R•gistsred numbw. 04242595 Charity number: 10891>)3 THE ASSOCIATION FOR MUSIC IN INTERNATIONAL SCHOOLS {A company limited by guarantee) UNAUDITED EXECUTIVE COUNCIL MEMBERS. REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2023
THE ASSOCIATION FOR MUSIC IN INTERNATIONAL SCHOOLS {A company limited by guar4nts•) CONTENTS Pa9e Reference and administrative details ol th* Company. tts Executlv• Council members and advisern Executive Council MeMrn. report 2-11 Indopondent examinerfs report 12-13 Statoment of financial activities 14 Balance sheot 15-16 Statomont of cash flows 17 Note5 to the financlal $tstements 18-30
THE ASSOCIATION FOR MUSIC IN IpifERNATIONAL SCHOOLS IA company limlted by guarantee) REFERENCE AND ADMINISTRATNE DETAILS OF THE COMPANY, ITS EXECUTIVE COUNCIL MEMBERS AND ADVISERS FOR THE YEAR ENDED 30 JUNE 2023 Executive Council members R Bassett (resigned 31 Juty 20221 M Brink BTodie-Ideker (resigned 31 July 2022} C Bulteel (resigned 10 May 20231 D Cruz lapttbinted 1 Juty 2023) C Gifford R Kam (resigned 30 June 20231 H Lacerda J Lcxli (rgned 12 Augusl 2022) J Londgreri J Robertson lapp)inted 1 Jvly 2023) L Ross (resigned 31 July 20221 C Stcd£hapin C Ward laptointed 1 July 2023) B While Company registered number 04242595 Charity registered number 1089003 Registergd office Church Fami House North Lopham Diss Norfolk IP22 2LP Company Socrelary K Montgunery Accountsnts Larking GOn LLP Chartered Accountants Faiers House Gilray Road Diss IP22 4WR Solicitors Ashtons Legal Trafalgar House Mendian Way Norwch Norfolk NR7 OTA Exe¢utive Director K Montgomery Page 1
THE ASSOCIATION FOR MUSIC IN INTERNATIONAL SCHOOLS (A wmpany limlted by guarante8) EXECUTIVE COUNCIL MEMBERS. REPORT FOR THE YEAR ENDED 30 JUNE 2023 The Executive Counul members present their annual report together with the financial statements of the Company for the year 1 July 2022 to 30 June 2023. The Annual report serves the purwses of both a Executive Council members. report and a directors, report urKler company law. The Executive Council memljeis confirm that the Annual reKK)rt aThJ financial ststements of the charitable company comply with the current slalutory requirements, the qUirementS of the charitable company's govemiro document and the provisions of the Slalement of Recommended Practi (SORPI applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicaNe in the UK and Republic of Ireland IFRS1021 leffedive 1 January 20191. sin the Company qualifies a5 ynall under tiOn 382 of the Ccffipanies Act 2C(J6, the Strategic rert required of medium and large companies urn*r the Companies Act 20(E (Strategic Report and Directors. Report) Regulations 2013 has been omitted. Objectives and activities a. Policies and objectives The principal activities of the company are the promob'on of excellence al all levels of muscal education. The Association for Music in Intemational SchLK)15 is an inlemab"onal, non-profit, non-sectarian, politically neutral organisalion dedicated to the promotion of exCellere al all levels of musi(al educ2ts"on. The objectives a as follows'.- To advan the education of schcol pupils and teachers throughout the wodd by developing their understanding. knowledge and appreciation of musi¢. To advance the education of young people and teachers in gk)bal issues and cultural diveryty through the performance and study of music. To promote high standard5 of musiGal perf0mlae in school pupils of all ages and abilities throughout the wortd. To promote furtherance of educationally valuaNe music rep&loire. The aims are as follows'.- To fa¢i1ilale communication among music le&hers and other teachers of fine arts. To provide and support professional development through practical teacher workshops. To provide and support appropriate student workshops. To provide and support non-competitive mug¢ festivals for students. To encourage and assist schwls to bring appropriate muscal perforniances of high quality to their student F)opulalions. There have been no changes in objectives since the last annual repy)rt. In setting objeth.ves aTKI planning for 8clivilies. the Exe¢)Jtive Counryl members have given due consideration lo general guidance published by Ihe Charity commison rdsling to public benefit, induding the guidance 'Public benefit." running a charity IPB2}'_ In planning activities, the Executive Council have given Cafeful consideration lo the Charity Commission's guidance on public benefit The charity is committed to enabliThJ as many students as posgble lo benefit through participation in The Association for Mugc in International Schwls festivals and workshcps. Page 2
THE ASSOCIATION FOR MUSIC IN INTERNATIONAL SCHOOLS (A Company limitod by guarantw) EXECUTNE COUNCIL MEMBERS. REPORT (CONTINUED) FOR THE YEAR ENDED 30JUNE 2023 ObjYeS and activitie8 (Continued) b. Strategle8 for achieving objective8 Objective.. Advance Educat in MUSK undetstalng, Knowledge. andAppreciatn Strategies Professional Devel menl". Cdlatnrate with music edwlors to enhance and develop various international music curriculum that incorpoiates diverse muwcal traditions. theory. and history. ensuring broad understanding of musc. Professional Consultin Resources". Develowenl and maintenance of a strong relationship with music education conwlling profe&4onals with a variety of expertise. This is meanl to facilitate connedions betsveen international schools and the lalesl educational trends and techniques lo make them more accessible to schxsls worfdwide and enhance respective sch(M)I music education programs. Music O rtunilies for Students-. Provide various live arNJ virtual opportunities for students to create, perform, shale, and apprwate musc. Objective." Education on Global Issues and Cultural Diversity Thrwgh Mus Strategies 1nlernab.onal Music Festivals.. Provide intemational muwc festivals in regions around the world lo encourage a culturally diverse group of participating students and teachers to explore global issues and cultural diversty through music composition. perfomiarKe, and study. Music Literature". Enre sponsored inlemalional mugc feslivals delIrelY incorrate musi¢ from different cultures, including educational content on the cultural context and Significan of each piece. Culturall Divers linicians". Provide high quality professional ¢xJnductors and music educators from around the world to work with the students and texhers lo shwe their musical expertise in the context of their own cultural experiences. Objective.. Promote Hwh Stand8rits of Mus81 Perfomyan Strategies Music Worksh Provide workshops for students of all abilitie& focwng on perfomiance skills. stage presen, and musical inlerwetation. Performance O ortunilies.. Create opportuntties for students to perfomi in loca, regional. and inlemalional settings, lo bioaden their exposuie and experience. Perform3n¢e Feedback O rtunities.. Provide a means for students lo perfom virtually for and receive feedback from professonal mu&c educators to provide additional petspeclive beyond a student's normal mus¢c studying routine. Objo¢tiv8.' Promote Furtherne olEducationally Valuable MUSIC RertoN Strategies ertoire Develo ment". CCA1atrTale wth com[er$ and edwtors to create and promote new, educationally valuable musc repertoires that reflect cultural dNersty and contemporary issues. Stud Com its.on Encoura ment". Support and encourage student compositions by providing opp)rtunities for Sludenls to submit CoMptIonS for feedba(* and suggestions by a professional panel of compK)sers. stLJdenl Com silion Ex sure: When feasible organise a means for student compositions lo be performed publicly. Page 3
THE ASSOCIATION FOR MUSIC IN INTERNATIONAL SCHOOLS IA company limited by guarnnteel EXECUTIVE COUNCIL MEMBERS. REPORT (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2023 Objectives and activities (continued c. Actlvlties undertaken to achlevo objgctives AMIS strives to achieve its c¥'ective by uwng various initiatives. By or9anizing virtual workshops for leachers. AMIS equips mUC educators Trmth contemporary methodologies, technology integration skills, and strategies for leaching multicultural muyc. The organrzalion also faalitates an annual conference, providing a platform for international musc educators lo netsvork. exd)ange best practices. and parbcipate in workshops. For students, AMIS hosts music festivals in Aga, Africa, Europe, The Middle East, Latin America, offering students from international schools the opty)rtunity to engage in high-quality mugc instruction, perfOrnan, and experiences under the guidance of Professional educators and musiaan5. Acklilionally. AMIS extends its reach through an online Solo & Ensemble Festival, where students have their perforManS adjudicated by experts worfdwde. and an annual Young Composers Conlesl that enCoue$ butling mUClanS to submit original comrx)Sitions for prOfeonal feedback and thi. AMIS exposes students lo a wide array of culturally diverse musical experien. Students engage with high quality conduclors and composers from different countries and backgiounds to explore different typès of musical styles and philosophies. AMIS brings together young musiaans from numerous countries and nationalities, offering them unique opportunities tr) perfom) in tjiverse IationS worfthide and immerse themselves in the loKal Cultu of Ihe host (>)unlries. Through these experiences, AMIS not only enhan students, Musi1 skills but also encourages the fomalion of lasting friendships and promotes international understanding by facilitating these rich cJJllural exchanges and luCatiOnal opportunities. d. Voluntgers AMIS recognises and would like to thank all volunteers for their contribub.on in enablir¥J the charity to run so many events throughout the world. including our host teachers, host schools and communities for volunteering their time and facilities to host AMIS events. AMIS esi>eaally wan15 to recognize the hundreds of music educalois globally who volunteered their lime to listen to the thousands of auditions as well as give feedback to students in our virtual fests'vals. WilhoLSt this contnbutson AMIS y*1 nol be able to function in the manner il does. Page 4
THE ASSOCIATION FOR MUSIC IN INTERNATIONAL SCHOOLS (A Company limiled by guarantee) EXECUTIVE COUNCIL MEMBERS. REPORT (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2023 Achievements and perfomiance a. Key rforn1ance indicators Dtjring the 2022-2023 Sean, AMIS oryanized 13 live mUC festival events in 12 countries. engaging over 1,000 students from 100 partlClP81ing schools representing 50 c*)untries woilthMde. These fe51ivals, which spanned conlinenls including Asia, Africa. EuroFe, and Latin ATheri. ratered lo a wde age range, from elementary students through lo high schwl students, illustrating the association's inclusive approach to music educ2tion. The audition system employed by AMIS for these events engagj over 150 music educalots from member schools around the globe vkno volunteered to serve as adjudicators for auditions. In addition to the live festivals, AMIS hosted 4 virbjal events. These events, designed to reach 8 broader audien, included a global solo & ensemble festival. a large group leslival. a young composers contest, and workshop for students and teachers of IB Music. Participation in these events involved over 1,500 students worldwide. underscoring the association's adaptabilty and the global appeal of ils programs. Much like in the audition system for the festivals. 150 Mu¢ educators from around the worfd volunteered to be adjudicators or cliniaans for these events. Moreover, AMIS'S commitment to profewonal development and nets¥orking within the music education community was highlighted by its annual conference held in The Hague. This event attracted 150 music teachers from around the world, farilitating exchange of krbovle(kJe, leaching methfyjologies. and the latest trends in muwc education. The susS of these activities has informed the charity's plan for expansion and growth going fofward and reflects the membership's Confiden in the charty's ability lo meet ils objectives and serve ils membership. b. Review ol activities The 2022-2023 season vras the secKJnd year of tsansilion post-pandemic. COVID issues have abated for most regions of the world, but some areas a slill working Icp•Mrds MO tN)m)al partiupalion abilities, Asia in particular. The as8ocialion carefully planned a combination of online events along wth regional live events in way that would continue to seTve member schwls no matter thwr t)rcumstan$. The resL¢It was an increage in the number of live events albeit fe%%ef than would be done in more nomal circumstances. Continuing to build on the success of the online offerings from pVIouS yeaT5. AMIS was able lo once again offer global virtual solo & ensemble festival whh had over 1000 student partIPant$ globally. Once again. a virtual workshop for teachers and students of IB music was offer&J and we11 attended. AMIS was able to go back to a face-to-fa Music Educators. conferen in The Netherlands in tandem with our first Elementary Choir Festival. All scheduled live events duriw the yeaf weie realised wthoul any canlIatIOnS or disruptions lingering from the waning pandemic. Executive Director Sgarch Keith Montyomery, the associab'on's current Execub"ve Director wll be retiring in Juty of 2024. An exhaustive search was initiated and completed during the 2022-2023 season lo lind a suitable replacement as well as to add a much-needed assislanl director. Near the end of the season, AMIS announced the hiring of Megan Highfill as the new incoming Executive Direclor and Cin(ty Bulleel as a new Asgstanl Director. Membership AMIS closed the year wth 110 schc(Jl members. AMIS hay 9 individual members and 11 passport members. Page 5
THE ASSOCIATION FOR MUSIC IN INTERNATIONAL SCHOOLS (A company limited by guarnnt¢g} EXECUTIVE COUNCIL MEMBERS. REPORT (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2023 Achievements and perfom)ance {¢ontlnuedl Events The Association would like to thank the hosts for 811 the festivals heky during the 2022-2023 season. Virtual events Online WoTkshop foT Students and Teachers of IB Global Online solo & Ensemble Festsval Online Large Group Festival Young ComtKJsers Contest Live Festival Events African Middle School and Hh School Honor Ch¢ir- Intemalional Sch1 of Kenya Asian Middle Schwl Honor Band- American SchLK)l of Bombay Asian Middle Sch1 Honor Choir- International School of Bangkok European Elementary Honor Choir- The American Schcol of the Hague European High School Honor BarvJ- Zurich Inlemational School Eurowan High Schcd Honor Or¢heslra- American School of Madrly European Middle School Honor Band- Zurich International S¢ho European Middle School Honor Band Boys. Choir 8nd Girls. Choir- Intemalional School of Luxembourg European Middle School Honor Orchestra- American SchrKJl of Balana International Honot Jazz Festival and Workshop - Inlemalional School of Aberdeen International High School Honor Ch(4r- The AMerin International SchcM)l of Muscat Latin American Honor Festival- Quito Inleinational Music Educators. cOnferen- The American SchcL)l of the Ha9ue Financlal Aid Awards AMIS awards financial aid packages during Ihe year to some students enabling them to attend festivals they )uld not have otherwise been able lo attend given financial re51raints. These funds are donated for this project from the audien of concerts given at the end of an AMIS festival. Financial aid awards were given to six students this year. AMIS Scholarship Awards With the generous support of AMIS donors, young students *ere awarded schdarships lo continue their study of musc. These students were chosen among the top students from the AMIS Glob81 Online Solo & Ensemble Festival held in the Spring of 2023. c. Actlvlty Plannlng for 2023-2024 The AMIS administration and the AMIS Board of Trustees conbnues to follow a 5tralegic plan that involves adaptive configurations of events for the 202>2024 seagjn. Next season's planning reflects very positive growth and enthusiasm by the membership and will be the busest on record for the association. Three online events wll continue to be offered wth sixteen live events globally Asia and Europe will have added regional events, and the African and Latin American festivals are wcfjected to meet or exceed participation expectations. Page 6
THE ASSOCIATION FOR MUSIC IN INTERPiATIONAL SCHOOLS (A company limited by guar4nts•) EXECUTIVE COUNCIL MEMBERS. REPORT ICONTINUEDI FOR THE YEAR ENDED 30 JUNE 2023 Flnan¢lal review . Ros&Nos policy The purpose of the Operating Reserve Policy for The ASStIon for Muyc in Inlemalional Schcnls is to ensure the stability of the mission, prc¥Jrams, employment, and ongoing operations of the organall0n. The Operating Reserve is intended lo provide an intemal source of funds for situations such as a sudden increase in expenses. one-time unbudgeled expenses, unanticipated loss in funding, or uninsured losses. The Reserve may also be used for one-time, nonrecurring exrtnses that Nbill build long-lemi capacity, such as staff development, research and development. or investment in infrastrudure. Operating Reserves a not intended to repla a pemanenl loss of funds or eliminate an ongoing budget gap. 11 is the intention of The Assoaalion foT Music in Intemational Schools for Operating Reserves to be used and replenished within a reasonably short period of lime. The Operating Reserve Fund is defined as a dgnated fund sel de by the Executive Cwncil. The minimum amount lo be designated as Operating Reserve TrMII established in an amount sufficient lo maintain ongoing operations and programs for a set riod of time. measured in months. The Operating Reserve serves a dynamic role and will be reviewed and adjusted in response to intemal and exlemal changes. The tsrget mirbimum 0[rating Reserve Fund is equal to six months of average Support costs. The amount of the 0perats.ng Reserve Fund target minimum wll be calculated eath year after approval of the annual budget, repK)rted lo the Board of Trustees. and Includ in the regular financial reports. The Operating Reserve Fund 11 be recorded in the financial rordS as Couwl-Designaled Operating ReseNe. The Fund wll be funded and available in cash or (3sh equivalent furKls. 0rating Reserves will be commingled wlh the general cash accoun15 of the organizalion. The Operating Reserve Fund VMII be fuNJed with surplus unrestricted operating funds. The Executive Director and Chief Operaling Officer wl1 identify the need for access lo reserve funds. This slep requires analysis of the reason for the shortfall, the availability of any other sources of funds tefore using reserves. and evaluation of the lime peri¢xl that the funds wll be required arKJ replenished. Authority for use of the Operating Reserves is delegated to the Executive th'rector and the Chief Operating Officer in consullalion of the Presdenl of the Executive Counal. The use of Operating Reserves will be reported lo the Executive C(wncil al their next scheduled meeting )Mpanied by a description of the analysis and delerminalion of the use of funds and plans for replenishment lo resloie the Operating Reserve Fund lo the largel minimum amount. This Policy will be revieEd every year by the Chief Operat1ng Officer and Executive Director in consullalion wlh the President of the Execuiive Counal. Changes lo the Policy will be recommended to the Executive Council for approval_ In the reporting period. the Asw"alion for Music in Inlemalional Schools generated an orEraling surplus of £65,58612022." £98.0101 from a total income of £514.47612022". £309.0261 and expenditu of £448,89012022". £211.0161. The Asswation's total funds now stand at £347.261 12022. £281,675} of which £335,435 12022.. £272,077} is unrestricted and £11.82612022." £9.5981 is restricted as at 30 June 2023. The charity's largel operational reserve is £100.OLK) and operational reserves of belween £30,000 and £50,000 are required to invest in preparation for the next yearfs events. Al 30 June 2023, The Association for Music in International Schools had free reserves (which by definition are unrestiicted funds not invested in tangible fixed assets) of £331,1%12022 £264.692) Page 7
THE ASSOCIATION FOR MUSIC IN INTERNATIONAL SCHOOLS (A company limited by guarantee) EXECUTIVE COUNCIL MEMBERS. REPORT (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2023 AMIS has seen a gnificant Ina in ils reserves. This is primarily because of income generated from the addition of more festivals and the indugon of more participants lo rn1 the needs of the membership. However, to effectively manage this growth and maintsin the high quality of its events. AMIS finds it necessary lo expand its YrkfOrce by hiring a new empbyee as an Asswate Director. This new hire wll begin late in the 2023-2024 fiscal year and the increase in reserves wll faulilale finanaal proviyons for Iraining and reloc3110n. When the Associate Director is on payroll these vtage costs wll affect the level of reserves going forward. This is a strategic move to ensure operational effiuency and sustainabiltty. Moreover, the organisation wll be in a transition phase with the retirement of ils current Executive Director al the end of the 202&2024 fiscal year. Funds from the reseryes will be allocated lo flitste a smooth transts'on lo a new leadership which will also include training and relocation costs_ Addits"onally, post-COVID, AMIS has needed lo adapt ils logistics for music events, moving awdy from the previously utilised home 5tsy5 for students. This shift lo using hotels more consistendy ne$SitateS a COnderable financkal outlay to sec#Jre hotel contracts for events, a move that is essenb.al lo uphold the safety for participants aTyJ tt)e viability of events. This change has moved the charity lo ensu its reserves can accommodate this logistic, as securing )le1 s$ in advance requires significant upfront investment. The Trustees evaluate Ihe rv&erve policy regulady and will make further adjustments as gr(wth and a larger w)rk force necessitates. b. Principal risks and uncertainties The major risk lo vhich the charity is eXpd is that. in the long lerni. rf the r1d silualion were such that intemalional schools around the world were no longer able lo provide students for The Association for Music in Inlemalional Schools festival and rkshOp parb"cipation. the chanty would then be al risk of no longer being able lo achieve ils objectives. The Executs"ve Council have assessed the major risks lo i•thich the (y)mpany is exposed. in particular those related lo the operations and finan of the company. and are satisfied that systems and procedures are in place lo mitigate our exposure to the major risk& c. Flnancial risk management objectives and poli¢i•s The primary financial risk management ot¥'ectives of AMIS inckjde ensuring sufficient liquidity to cover operational exKÈnses and unfores&n costs, managing currency risks due to international transactions, achieving budget stsbility for events and activities, diversifying revenue streams to reduce dependency on single sources, and ensuring long-term financial sustainability. To safeguard ils fInarla1 stability, AMIS implements p(AleS for regular monitoring and controlling of expenses related lo events and operational costs. The board of twstees regularfy reviews the financial health of the organizalion and reports infomialion to stskeholders {e.g. member hl$. sponsors) lo maintain transparency and trust. AMIS $vre$ comprehensive Insurance tx)licies lo cover risks associated wlh event can¢ellalions. liability claims. and other Wential financial losses related lo organizing events. Insurance policies are maintained and reviewed annually. AMIS. administsalion priotilises clear contract management with venues, vendors, and service providers, including clauses that protect AMIS from financial losses due lo CanlIatIonS or failures lo deliver rvices as agreed. Professonal a&8istance is employed lo secure and eonlractually riegoliale th hotel vender5 to mitigate risks. Member sch(KJls that are hosting events contribute additional assistan and expertise to further manage and conlrol financial considerabons and other potential liabilities. Page 8
THE ASSOCIATION FOR MUSIC IN INTERNATIONAL SCHOOLS IA Company limited by guarantee) EXECUTNE COUNCIL MEMBERS. REPORT {CONTINUED) FOR THE YEAR ENDED 30 JUNE 2023 d. Principal funding The operation81 funds generalwj lo suslain Ihe activib.es of the charity includes registration fees collected for the purpose of running vaTiOUS events LM)th live and online. yeady membership fees eollecled from school members as well a5 ifKlividual members. cotpxyale sponsors, and patron donations. While strong growth in event participation is gNing the charity a strong financial base. the board of trustees is looking to continue to improve ils donor base and explore grant OPFMNtunities and other Milar possibilities e¥>ecially in the context of the new incoming Executive Diieclor wlh Ihe goal of further diversifying ils revenue sIaM. Structure, govemanco and managernent Constitution The Association for mC in Intemational Schools is registered as a charitable company limited by guarantee. The charity and was founded in Oct(A)er 2(K)D and was incorporated on 28 June 2001. with company registration number 0424595. The organisabon registered wlh the Charity Commission on 23 October 2001, under charity number 1089003. b. Methods of appointment or ele¢tlon of Executive Council members The charity is governed by the Board of Trustees (the Executtve Council) which is elected from the membership. Each member of the Executive Council seNes a three year lem. and may stand for fe-eleclion. The memorandum and 8rticles of assLKiation require that there thall be not fewer than S nor more than 9 Trustees. Trustees are elected by the memtership by e*tronic ballot each spring. c. Organlsational structure and decision-making policies The day lo day adminislralion ol the charity is delegated to the Executive Director. The Executive Director reports to the Execubve Council annually. One of the Executive Directorfs principal jobs is to rarry out the rdicies delemined by the Executive CoutKil. Fees are delemined by the Executive Council at their annual planning meeling or al subsequent meetings. These meetings are generally held in conjundion wlh The Inlemalional Honor Band and Choir FestiV81 and al other festival sles as needed. The Executive Director does not seNe as a member of the Executive Council. The memorandum and articles of s18t10n of the CLNnpany enables the Exectjlive Council to apply or invest monies lo be Invested in propety or investments as the Executive Council in their absolute di5creb.on think fit. Page 9
THE ASSOCIATION FOR MUSIC IN INTERNATIONAL SCHOOLS (A company limited by guarante•) EXEc1VE COUNCIL MEMBERS. REPORT ICONTINUED) FOR THE YEAR ENDED 30 JUNE 2023 Structure, governan and managemenl (continued) d. Policies adopted for the Induction and tralning of Exe¢utiv• Council Members Twstses are elected lo the board from the membership to a three-year temi. trustees may be elected to the board when existing trustees, tem)s of office expire or upon the resignation of a seNing Iruslee. At the end of their tem), trustees may sland down or run for re-election. An infornial annual review of individual Iruslee's work is carried out by the chair. This review provides a forum for truStS to discuss their work in an on and honest manner. New Trustees receive clarification and gUIdar of the roles and resFM)nsibililies of the board as individuals and colleclivety. This includes outlines of the job deption for the chair and vice-chair of the board as well as the decision-making process for the board. This management is overseen by the board chair with the partiupation of the existing trustees. A trustee handbook is being developed to cover these reSpOnbIlitIeS more fully and formally and to serve as a more comprehensive resiJuTce for and veteran trustees going forward. g. Pay pollcy for key managoment per6onnel A Remuneration Ctjmmittee, ccAnprising selected trustees and the financial officer, oversees the pay-setting process of key management rSonnel within AMIS. This cmIttee is tasked with making informed Tecommendalions to the board regarding the remuneratson of key management personnel. Salaries are benchmarked against similar pogty.ons within the charity sector, considering factors like the size of the organisalion, complexity. and location. AMIS may seek independent advice to validate pay scales, ensuring they are justifiable and aligned wth sector standards. The Remureration Committee reviews this policy and pay scales annually lo ensure they remain aw)ropriate. compeb"&ve. and reflective of the charity's financial health and strategic direction. Inforniation on fundraislng practice8 AMIS had 100 Patrons for the year that donated to the assouation's general fund and the scholarship fursd. Financial aid and further composition commiOn L)nations are collected anonyMouY after festival concerts when allowed by the hosb'ng school or venue. Fundraising for AMIS is the rewsibility of the Execulive Director. AMIS wbscribes to the Fundraising Regulalorfs Code of Fundraisng Practice. AMIS d($ not use profe&8ional fundraisers or invdve commercial participators. There have been no complainls about fundraiwng aclwity this year. All direct marketing 15 undertaken by the Development Officer lo ensure that it is not unreasonably intrusive or persislenl. Contact is made through direct marketing a maximum ol three limes a year bul usually annually. Any marketing material contsins clear instructions on a person can be removed from contad lists. Page 10
THE ASSOCIATION FOR MUSIC IN IPITERNATIONAL SCHOOLS {A cornpany 11m1t by guarnnt•• EXECUTIVE COUNCIL PAEMBERS. REPORT ICONTINUED FOR THE YEAR ENDED 30 JUIE 2023 Statwnent of Ex•cutlv• Coun¢ll m•mb•rn' rMponglbllltle• The ExecJJlive Cwncil members {who are also thè direclors of the Company for the purFoses of company law) are re5Fnsible fcK preparirwJ tl Ctyjnul memtrms. report and the fi'nancial stalemenls in accordance with aFpIir2e law and United ACntI2 Slat>tsrds (United kn"ng(trm Generally Accepted A¢countsng ple} Company law wuires the Exeortive c1 mbS to prwè financbal atements for financial year. Under ccmpany law. the Executive Cwnul memLws must not 8FoThe the fin$ slatemenls unless Ihey are satisfied that they a true aThJ fair view of the stale of affairs of the CnpanY and of ils ineoming resources and application of resources. Iluding rt$ inecrfne and exper"te. f that FerKJd. In preparing Iheae finanoal slalernenls. the Ex&xrtp4e Counul members are requirgj lo sew suitable ac£ounting wlicie5 arKI then appty them con9Stgnlly: ObSee the methcds and pnnciples of the charib.es SORP IFRS 102): make jLKJments and accountsng eth"males that are reaté pnJJenL slale whether a1¢e UK A£counbThJ StarKl8rts IFRS 102) have been fdICAd. subject lo material departures dix108ed and expL3ingJ in the fInar1 stalements". prepare the finanaal statements on png c4xKern bag'$ unkss il is inapwowate lo presume that CC#npY vill continue in IM"neS& The Ex1¥8 cn¢11 memter5 arn reSptIe for keepThJ adequate accountiThJ rordS that are sulficienl to show aTrJ ex 01n the c(mpan$ Iransxtirms and disclose yh reasonable * any lime the financial position ol the Company ar¥J enable them lo ensu Ihal the financial slalements eomply V•ith the Ci)mpanies Act 2006. TW are also respon$b for safeguarding the assets of the cCrfnp and for tsking reasonaNe steps for the weventson and detec of IraLM1 and other Irreguknlh?> Approved by (Kder of the membws of Ihe L¥)*d d Exeartrve Cl1¥1 ynberS and on their behalf by.. C Sto¢k£hapin ITrusl I Dale.. Page11
THE ASSOCIATION FOR MUSIC IN INTERNATIONAL SCHOOLS (A company limited by guarnntee) INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 30JUNE 2023 Independent examingrfs report to the Executive Council membern of The Associatlon for Music In Intsmational Schools ('tho Company.) I report to the charity Executive Counril members on my examinatK)n of the accounts of the Company for the year ended 30 June 2023. Rospon8ibilities and basis of report As the Executive Counal memters of the Company {and its directors for the purposes of company lawl you are responsble for the preparation of the accounts in ac(x)rdance with the requirements of the CpanIeS Act 2006 I'the 2006 Act.) Having satisfied myself that the accounts of the Company are not required lo be audited under Part 16 of the 2006 Act and are eligible for independent examination. I report in reycl of my examination of the Company's accounts carried out under section 145 of the Charities Act 2011 I'the 2011 Acr}. In carrying out my examination I have followed the Direclions given by the Charity Commission under section 14515)Ibl of the 2011 Act. Independent examinerfs $tat¢m8nt sin the Company's gross income exceeded £250.000 your examiner musl be a member of a body listed in section 145 of the 2011 Act. I confim that l am qualified to undertake the examination because l am a member of lenler body he1, which is one of the list tK)dies. I have completed my examination. I confimi that no matters have come to my attention in conn&tion ¥Mlh the examination giving me cause lo believe". accounting records V•Ere not kept in respect of the Company as required by section 386 of the 2006 Aet." or the accounts do not accord wth those records.. or the accounts do not comply wth Ihe accounting requirements of section 3 of the Act other than any requirement that the accounts give a 'true and fairf view which is not a matter considered a5 part of an independent examination., or the accounts have not ten prepared in aecordance with the methcKIs 8nd principles of the Statement of Recommended Practice for 8¢counting and Teporting by charities lapplicable lo charities preparing their accounts in accordance with the Financial Reporting Stsndard applicable in the UK and Republic of Ireland IFRS 10211 I have no COnmS and have cLe across no other matters in connection with the examination lo which attention should be drawn in this report in order lo enable a pyoper understanding of the accounts lo be reached. Page 12
THE ASSOCIATION FOR MUSIC IN INTERNATIONAL SCHOOLS IA company limited by guarnntge INDEPENDENT EXAMINER'S REPORT (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2023 This reFK)rt is made solely to the Company's Executive Counul members. as a bcKly, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2LK)8. My has been undertaken so that I might stale to the Company's Executive Co(Jnryl members those matters l am required to stale to them in an Independent examinerfs report and for no other purpose_ To the fullest exlenl p*m)itted by law. I do not accept or assume responsibility to anyone other than the Company and the Companls Executive Counctl members as a body. for my work orfor this rewl. 115 Signed.. Dated.. 13 March 2024 Christopher Yeales FCA DChA Larking Gowen LLP Chartered Accountants Diss P8ge 13
THE ASSOCIATION FOR MUSIC IN INTERNATIONAL SCHOOLS (A company limitod by guarantee) STATEMENT OF FINANCIAL ACTNITIES {INCORPORATING INCOME AND EXPENDITURE ACCOUNT} FOR THE YEAR ENDED 30 JUNE 2023 Unrestricted Restricted funds funds 2023 2023 Total funds 2023 Total funds 2022 Noto Income from: Donations and legacies Charitable adivities Investrnenls 12,700 496.537 624 4.615 17.315 496.537 624 20,084 288,923 19 Total Incomo 509.861 4.615 514,476 309,026 Exponditure on: Charitable activities 446.503 2.387 448.890 211,016 Total expenditure 446.503 448,890 211,016 Net movement in funds 63,358 2,228 6S,586 98.010 Reconclliation of funds: Total fuThls brought forward Nel movement in funds 272.077 63.3S8 9.598 2,228 281,675 65.586 183,665 98,010 Total funds carrled forward 335,435 11.826 347,261 281,6T5 The Slalement of financial activitie5 includes all gains and Ios8es recognised in the year. The notes on peS 18 10 30 fom) part of these financial statsments. Page 14
THE ASSOCIATION FOR MUSIC IN INTERNATIONAL SCHOOLS (A company Ilmltgd by guarantee) REGISTERED NUMBER: 04242595 BALANCE SHEET AS AT 30 JUNE 2023 2023 2022 Fixed assets Tangible assets 11 T,385 4.239 7,385 Current assets Deblors Cash at bank and in hand 12 62,675 368,795 40,083 31T.064 431,470 357.147 Creditors.. amounts falling due wlhin one year 13 {88.448} (82,857) Ngt currant assets 343,022 2T4,290 Total assetsloss Current liabilities 347.261 281.675 Total not a$sgts 347,261 281,675 Charity lund8 Restricted funds Unrestricted funds 14 11.826 335.435 9,598 272,077 14 Total funds 347.261 281,675 The Company was entitled to exemption from audit under section 4T1 ol the C(mpanies Act 20[. The members have not required the company lo obtain an audit for the year in question in accordance with section 476 of C(mpanies Act 20(. The Executive Council members ad{rethje Ihwr responsibilities for comptying Yiilh the requirements of the Act with respect lo accounting records and preparation of financial *atemenls. The finan¢tal slalemenls have been prepared in &xordance wth provisions applicable lo entities subject to the small eompanies regime. Page15
THE ASSOCIATION FOR MUSIC IN INTERNATIONAL SCHOOLS (A company limited by guarantee BALANCE SHEEr {coKriNUED) AS AT 30 JUNE 2023 The financial statements N%ere approved and aulhorised for issue by the Exewlive Counal members and gned on their behalf by" C Stock£hap ITruste ) Dale.. The notes on pages 18 to 30 fom part of th financial statements. Page 16
THE ASSOCIATION FOR MUSIC IN INTERNATIONAL SCHOOLS (A company Ilmlted by guarnntse) STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 30 JUNE 2023 2023 2022 Cash flows from oporating actlvlties Nel sh used in operating activities 53.501 115.631 Cash flows from investing activities Purchase of tangible fixed assets 11.7701 (3,212) Net cash used in Investing activities 11.7701 (3.2121 Change in cash and ¢a8h equlvalents In the year Cash and cash equivalents at the beginning of the year 51.731 112,419 317.064 204,645 Cash and ¢a$h oquivalents at the end of the year 368.795 317,064 The notes on p4es 18 10 30 fom) part of these finanual statements Paoe 17
THE ASSOCIATION FOR MUSIC IN INTERNATIONAL SCHOOLS (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2023 General inforniation The company is a company limited by guarantee and incorporated in England and Wales. registration number 04242595. The regislefed office is Church Farm House, North Lopham, Diss, Norfolk IP22 2LP. The members of the company are the Executive Ccrfjncil members named on page 1. In the event of the company being wound up. the liability in resFttt of the guarantee is limited lo £10 per member of the company. Accountlng pollcles 2.1 Basis of preparation of financlal sL*emonts The financial slalements have been prepared in accordance wth the Charities SORP IFRS 1021- Accounting and Reporting by Charities". Slalement of Reccmnmended Practice applicable to charities preparing their account5 in &COrdan with the Financial Reikning Standard applicable in the UK and Republic of Ireland IFRS 102) leffeclive 1 January 20191. the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 and the Companies Act 20. The financial 5tstemenls are presented in sleding which is the functional cufrency of the company atKI rounded to the nearest £. The Association for mUe in Intemalional SchcKJls meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially rec(xJnised at historical cost or transaction value unle&8 otherwise staled in the relevant accounting policy. 2.2 Income All income is recognised once the Company has entillemenl lo the income. il is probable that the income wll be recVed and the amount of inc(Kne rewvable can be measured reliably Income lax recoverable in relabon to investment income is recognised al the lime the investment income is Teceivable. 2.3 Expenditurg Expenditure is recognised once the is 8 legal or (x)nstrv(aive ct)ligation to transfer e(x)nomic benefit lo a third party, il is probable that a transfer of eeonomic benefits wll be Tequired in settlement and the amounl of the obligalion can be measured reliably. Expendituie 15 ¢lassified by activity. The cos15 of each &livity are made up of the total of direct costs and shared costs, including stjpport costs involved in undertaking each activity. Direct costs attributable lo a single activity are allocated directly to that acb"vity. Shared costs which contribute lo more than one activity and supwrt costs which are not attributable to a single activity are apportioned between those adivities on a basis o)nsistenl with the use of resources. Central staff costs are allocated on the basis of lime spent. and depreciation charges allocated on the portion of the asset's use. Expenditure on CharItae activities is incurred on direcuy UTKlertaking the activities which further the Company's objectives, as well as any a&8oci?ted support costs. l expenditure is inclu&ve of irrecoverable VAT. Page 18
THE ASSOCIATION FOR MUSIC IN INTERNATIONAL SCHOOLS (A company limited by guaTant•¢) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2023 Accounting poll¢ies IntinU) 2.4 Inter08t recolvablo Interest on funds held on depost is indLKled when e1V8b1e and the amount can be measLId reliably by the Company.. this is nomially uwn notsficth.on of the interest paid or payable by the institution wth whom the fu1$ are (kpog'le(l. 2.5 Foreign currencies Monetary assets and liabilities denominated in foreign CurreieS are 1[anated into sterling at rates of exchange ruling at the reporting dale. Transactions in foreign cJJrrencies are translated into sterliThJ al the rate ruling on the date of the Iransaclion. Exchange gains and losses are recconised in the Ststemenl of financial activities. 2.6 Tangible fixed assets and depreciation Tangible fixed assets are initially [nised at cost. After recognition, under the cost model, tsngible fixed assets are measured al cost less accumulated deplatIOn and any accumulated impairment losses. All costs incurred to bring a tan9ble fixed asset into ils intended working condition shcHJld be included in the Measurent of cost. Depreci8tion is charged w as lo alloce the cost of tangib red assets less their residual value over their estimated useful lives. on a reducing balance bass. Depreciation is provided on the followng ba"S.. Computer equipment - 20% reducing balance 2.7 Debtors Trade and other debtors are recognised al the settlement amount after any Ir discount offered. Pfepayments are valued al the amounl prepaid rbet of any trade discounts due. 2.8 Cash at bank and in hand Cash at bank and in hand includes cash and short-temi highly liquid investments wlh a short maturity of thr months or less from the date of acqui&lion or opening of the depo&l or &milar account. 2.9 Liabilities and provisions Liabilities are recL¥Jnised when there is an obligation at the Balance sheet date as a result of a past event, il Is probable that a IransfeF of economic benefit wll required in sduement. and the amount of the settlement can be estimated reliably. Liabilities are recognised al the amount that the C(xnpany anticipates it wll pay to settle the debt or the amount it has received as advanced payments for the gc(wJs or serviTrs il musl provide. Page 19
THE ASSOCIATION FOR MUSIC IN INTERNATIONAL SCHOOLS {A ¢ompany limit8d by guarnntee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2023 A¢¢ounting policies {continued) 2.10 Flnan¢lal in$trumgnts The Company onty has financial assets and finanaal liabilities of a kind that qualify as basic financial instruments. Ba&c financial instruments are inrtially recognised al Iran5aclion value and subsequently measured al their sethement value wth the exception of bank loans which are subsequently measured al amortised cost LIn9 the effec've inleresl method. 2.11 Pensions The Company operates a defined contribution pension heme and the pension charge represents the amounts payable by the Company to the fund in respect of the year. 2.12 Fund accounting General funds are unreslricled funds which are aVailae for use al the discretion of the Executive Courril members in furtherance of the general ot4"ectives of the Ccynpany and which have not been designated for other PUTpose& Restricted funds are furKls which are lo be used in aCcOrdae with specific restrictions imposed by donors or which have been raised by the Company for particular purposes. The costs of raising and administering such funds are charged against the wfic fund. The aim and use of each reslricled fund is sel out in Ihe notes lo the financial statements. Investment incame, gains and losses are allocated to the apwopriale fund. Critical accounting estirnates and areas of Judgment Estimates and judgments are continually evaluated and are based on historical eX[trien and other factors. including expectations of fuiure events that are believed to be reasonable under the circumstances. Critical accounting estimates and assumption& The Company makes eslimales and a&sumptions conMIng the future. The resultin9 accounting estimates and assumptions wll, by definibon, seldom equal the related actual result5. No estr'mates or assumptions that have a significant risk of causing a material adjustment to the carying amounts of assets and liaij'lilies within the next final yeai have been Identified. Page 20
THE ASSOCIATION FOR MUSIC IN INTERNATIONAL SCHOOLS IA ¢ompany limlt•d by guardntee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2023 Income from donation$ and legacies Unrestricted Rostricted funds funds 2023 2023 Total funds 2023 Total funds 2022 Collections and donalions 12.700 4.615 17.315 20,084 Total 2022 16.857 3.233 20,084 Income from ¢haritable activities Unre8tri¢t•d funds 2023 Total funds 2023 Total funds 2022 Income from festivals, workshtws and conferenixs Membership fees 438.003 58,534 438.003 58,534 235, 784 53, 139 496,537 496,537 288,923 Invgstmont incomo Unrestricted funds 2023 Total funds 2023 Total funds 2022 Investment income 624 624 19 Page 21
THE ASSOCIATION FOR MUSIC IN INTERNATIONAL SCHOOLS (A company limit by guarnntee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2023 Analysis of expenditure by activities Activities undertaken directty 2023 Support costs 2023 Total funds 2023 Total funds 2022 Charitable activities 217.972 230.918 448,890 211,016 Total 2022 41.405 169.611 211,016 Analysis of dire¢t costs Totsl funds 2023 Total funds 2022 Festival expenses Music 212,260 5,712 40,683 722 217,972 41,405 Page 22
THE ASSOCIATION FOR MUSIC IN INTERNATIONAL SCHOOLS (A mPanY limited by guarantse NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2023 Analy818 of expendlture by actlvltles (continued) Analysis of support costs Total funds 2023 Tot&1 furKIs 2022 Staff costs offi rent Office and meeb'ng expenses Insurance Postage and cnurier expenses Programmes 156,897 121,216 5.592 3,881 2.275 2.157 73 2,690 566 266 k ij Sundry expenses IT and website costs Exchange rale drfference Bank charges and commisgon Depreciation- Fixture5 and fittings Depreciation - Computer equipment Bad debts Health and accident inwJr8n Accountancy and independent examination Loss on disposal of fixed a&8es 3,834 34.970 {1.2931 5,413 103 29,625 (1, 134) 4.013 63 1, 786 1.012 4.835 5.041 3,850 3, 151 230.918 169.611 Independent examinerfs remunerntion The independent examinerfs remuneration amounts lo an independent examiner fee of £2.490 12022 - £2,265). Page 23
THE ASSOCIATION FOR MUSIC IN INTERNATIONAL SCHOOLS (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2023 Staff costs 2023 2022 Wages and s3laries Social security costs Other pension costs 141.984 12.675 110, f 56 9.405 1,655 156.897 121,216 The aver4e numbef of persons employed by the Company tlurirvJ the year was as follows.. 2023 No. 2022 No. Employees The number of employees whose employee benefits lexduding employer penston costs) exceeded £60,000 was. 2023 2022 No. In the band £60.001 - £70.000 In the band £70,001 - £80,000 Total key man*Jement personnel remuneration during the period was £141.98412022.. £122.7351. 10. Executive Council m•mbgrs' remuneration and expenses During the year, no Executive Council members received any remuneration or other benefits (2022 - £NIL) During the year ended 30 June 2023, travel expenses totalliry £556 were reimbursed or paid directly lo 1 Executive Council member12022 - £Nil to no Executive CouncAI members). Page 24
THE ASSOCIATION FOR MUSIC IN IKfERNATIONAL SCHOOLS (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 20fJ Tangible fixed assets Computer equlpment Cost or valuation At 1 Juty 2022 Additions Disposals 27,932 1,770 {18,4001 AI 30 June 2023 11,302 Depreciation Al 1 Juty 2022 Charge for the year On disposals 20.547 1,062 (14,6461 At 30 June 2023 7,063 Not book value AI 30 June 2023 4.239 AI 30 June 2022 7,385 12. D9btors 2023 2022 Due within ono year Trade debtors Prepayments and accrued income 22,203 40.472 26,461 13,622 62,675 40,083 Page 25
THE ASSOCIATION FOR MUSIC IN INTERNATIONAL SCHOOLS IA company limited by guarants•l NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30JUNE 2023 13. Creditors.. Amounts falling due within one year 2023 2022 Other taxation and sccial security Other creditors Accruals and deferred income 4,834 13,007 70,607 2,488 14,885 65,484 88.448 82.857 2023 2022 Deferred income al 1 July 2022 Resources deferred during the year Amounts relea4 from previous periods 45,170 66.727 (4S,170) 38,575 45,170 f38,5T5) 66,727 45,170 Defeired income relates lo membership fees paid in advance for the period from 1 July 2023 10 30 June 2024 {2022. 1 Juty 2022 to 30 June 2023). Page 26
THE ASSOCIATION FOR MUSIC IN INTERNATIONAL SCHOOLS IA company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2023 14. Statement of funds Statement of funds - current year Balan¢0 at 30 June 2023 Balance at 1 July 2022 Income Expenditur• Unrestricted funds General Funds 272.077 509.861 {446,503) 335,435 Restricted funds Finanaal M"d and cOmption Scholarship Fund 9,169 429 3,740 875 11,966) 1421) 10,943 883 9,598 4.615 {2.3871 11,826 Total of funds 281,675 514,476 448,890} 347.261 The funds held in the Finanoal Aid and commion Fund are for the purpose of assisting students who might not olherwse able to attend a festival tYSe of Finani?al difficulties and for the purpose of commissioning a music21 composib.on for a festival ensemble. The funds held in the Scholarship Fund are for Ihe purtM)se of sur4)orting students in continuing their study of music. Page 27
THE ASSOCIATION FOR MUSIC IN INTERNATIONAL SCtrk)OLS IA company limited by guarant) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2023 14. Statement of funds {¢ontinued) Statement of funds- prior year Balance al 30 June 2022 Balance al 1 July 2021 Income Expenditure Unr¢$tri¢ted funds General Funds 176.571 305. T93 (210,287) 272,077 Restricted funds Financial Aid and Compostbon Scholarship Fund 7,094 2.375 (3) (429) 9, 169 429 3.233 (729) 9,598 Total of fund8 183,665 309,tY26 (211,016) 281,675 Page 28
THE ASSOCIATION FOR MUSIC IN INTERNATIONAL SCHOOLS IA mPanY 11m1t by guarantee) NOTES TO THE FINANCIAL STATEmETrS FOR THE YEAR ENDED 30 JUNE 2023 15. Analysls of net assets beknn funds Anatysis of net as8ets between fund8- ¢urrent year Unrestricted Rostricted fund5 funds 2023 2023 Total funds 2023 Tangible fixed awts Current assets Creditors due within one year 4.239 419,644 {88,4481 4,239 431,470 <88,4481 11.826 Total 335.435 11.826 347,261 Analysis of net assets between funds - prior year unstriCted funds 2022 Resliicted funds 2022 Tolal funds 2022 Tangible fixed assets Current assets Creditors due wlhin one year 7.385 347,549 (82.857) 7,385 357, 147 (82.857) 9,598 Total 272,077 9,598 281, 675 16. Reconciliation of ngl movemont in funds to net cash flow from operating a¢tivitios 2023 2022 Nel income for the yeai (as per Ststement of Financial Activibesl 65,586 98,010 Adjustrnents for: Depreciation charges Loss on the disposal of fixed ats Increase in debtors 1,062 3,854 123,072) 6.071 1,849 (t5,227) 30.999 Increase in creditors Ngt cash provided by operating activities 53,501 115,631 Page 29
THE ASSOCIATION FOR MUSIC IN INTERNATIONAL SCHOOLS (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2023 17. Anatysis of cash and cash equivalgnts 2023 2022 Cash in hand 368.795 317,064 Total cash and cash equlvalents 368,795 317,064 18. Analysis of changes in net debt At 1 July 2022 Cash flows At 30 June 2023 Cash at bank and in hand 317,064 51.731 368,795 317,064 51,731 368.795 19. Pension commltments The company operates a defined contribution pension scherne. The assets of the scheme are held separately from those of the company in an independenlly alministered fund. The pension cost charge represents contributions payable by the company lo the fund and amounted to £2,23812022 - £1,655). Conlribtrtions of £Nil12022." £Nill yre payable lo the fund al the balance sheet date and are included in creditors 20. Related party transactions The Company has not entered into any lated paty transaction during the year, noT are there any oulslanding balan owng betsveen related parties and the Company at 30 June 2023. Page 30