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||||Page|
|---|---|---|---|
|Company<br>information||||
|Report ofthe|Directors||2 —14|
|Independent|Auditors'|Report|15—20|
|Statement of|Financial|Activities|21|
|Statement of|Financial|Position|22|
|Statement of|Cash Flows||23|
|Notes tothe|Financial|Statements|24-46|





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|Directora|||Dr H Dodman|
|---|---|---|---|
||||Mrs SGriffin|
||||Ms J Harnden|
||||Cllr J Hum phreys|
||||Mrs A Letch|
||||Lady C Panufnik|
||||Mr A Price|
||||Ms E Rawley|
||||Mr P Wlllan|
|Secretary|||Miss C Peirson|
|Company|Number||04218180|
|Registered|Charity|Number|1090623|
|Registered|Office||7 Briar Road|
||||Twickenham|
||||Middlesex|
||||TW2 6RB|
|Auditors|||Cooper Parry|
||||250 Fowler Avenue|
||||Famborough|
||||Hampshire|
||||GU14 7JP|





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||||Unrestricted|Restricted|Total|Total|
|---|---|---|---|---|---|---|
|||Notes|Funds|Funds|Funds|Funds|
||||2023 (F)|2023(f)|2023 (E)|2022 (f)|
|Income from:|||||||
|Income from grants|and||352,538|52,800|405,338|430,663|
|donations|||||||
|Income from investments|||714|8|722|22|
|Income from charitable|||1,245,709||1,245,709|1,068,826|
|activities|||||||
|Other incoming<br>resources|||||38|8 164|
|Total Income|||1,598,999|52,808|1,651,807|1,507,675|
|Expenditure<br>on:|||||||
|Raising funds|||80,622||80,622|75,608|
|Charitable<br>activities|||1,458,904|54,381|1,513,285|1,327,506|
|Governance<br>costs|||35,768||35,768|33,153|
|Total expenditure|||1,575,294|54,381|1,629,675|1,436,267|
|Net income/(expenditure)|||23,705|(1,573)|22,132|71,408|
|Other recognised|||||||
|gains/(losses)|||||||
|Gain on defined beneht||16|865,000||865,000|189,000|
|pension schemes|||||||
|Net movement<br>in funds|||888,705|(1,573)|887,132|260,408|
|Reconciliation offunds|||||||
|Total funds brought|forward|16|(242,580)|6,095|(236,485)|(496,893)|
|Total funds carried|forward|16|646,125|4,522|650,647|(236,485)|





## 

||||2023|2023|2022|2022|
|---|---|---|---|---|---|---|
||||f|f|f|f|
|||Notes|||||
|Fixed Assets|||||||
|Tangible assets||10||3,383||7,252|
|Current Assets|||||||
|Debtors|||327,222||295,000||
|Cash at bank and in|hand||515,999||490,563||
||||843,221||785,563||
|Creditors: amounts|falling||||||
|due within one year||12|(354,957)||(363,300)||
|Net Current Assets||||488,264||422,263|
|Total assets less current|||||||
|liabilities excluding|pension|||491,647||429,515|
|liability|||||||
|Defined benefit pension|||||||
|scheme asset/(liability)||14||159,000||(666,000)|
|Net assets/(liabilities)||||650,647||(236,485)|
|The funds ofthe charity:|||||||
|Restricted funds||16||4,522||6,095|
|Unrestricted<br>funds||16||646,125||(242,580)|
|Total funds||16||650,647||(236,485)|





## 

|||||2023|2022|
|---|---|---|---|---|---|
||||Notes|||
|Cash flow from operating|activities||21|24,714|252,568|
|Net cash flow from operating||activities||24,714|252,568|
|Cash flow froin investing|activities|||||
|Payments<br>to acquire tangible||fixed assets|||(7,750)|
|Interest received||||722|22|
|Net cash flow from investing||activities||722|(7,728)|
|Cash flow from financing|activities|||||
|Net increase<br>in cash and|cash|equivalents||||
|||||25,436|244,840|
|Cash and cash equivalents|at|1April 2022||490,563|245,723|
|Cash and cash equivalents|at|31March 2023||515,999|490,563|
|Cash and cash equivalents|conaist of:|||||
|Cash at bank and in hand||||515,999|490,563|
|Cash and cash equivalents|at|31March 2023||515,999|490,563|





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|sidual<br>value, over their expected use|ful<br>lives on the followin|g basis:||
|---|---|---|---|
|Musical Instruments|33M per annum|straight|line|
|Office equipment|33%per annum|straight|line|
|Fixtures, fittings &equipment|20%per annum|straight|line|



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||Income|||
|---|---|---|---|
||Income from grants and donations|2023<br>f|2022<br>f|
||Standards<br>Fund Grant/MEG|247,535|247,750|
||LBRUT Grant|48,000|48,000|
||Arts Council TPS Grant|55,887|55,887|
||Hampton<br>Fund|26,000|25,000|
||Richmond<br>Parish Lands Charity|25,000|26,000|
||Barnes Fund|1,800|1,200|
||The Arts Society Richmond||1,250|
||Peter Wilfan|350|350|
||Pg N Harvey Fund||15,000|
||LSVirgin Money||3,575|
||HRTTrust||5,349|
||Other donations|766|1,302|
|||405,338|430,663|
||Income from charitable<br>activities —Unrestricted|2023|2022|
|||f||
||Tuition fees|814,878|744,543|
||Activity fees from schools|26,179|19,105|
||Wider opportunities|24,725|15,300|
||Course fees|20,451|9,876|
||Concert income|47,138|1,775|
||Exam fees|3,153|469|
||Music therapy|309,185|277,758|
|||1,245,709|1,068,826|
|||2023|2022|
|3|Investment<br>income|f|f|
||Bank interest receivable|722|22|





## 

|4|Total expe|ndit|ure|||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
|||||||Activities||Support||Total|Total|
||||||undertaken|directlyf||costs<br>f||2023<br>f|2022<br>f|
||Raising funds||||||80,622|||80,622|75,608|
||Charitable|activities||||1,480,106||33,179|1,513,285||1,327,506|
||Governance||costs||||35,768|||35,768|33,153|
|||||||1,596,496||33,179|1,629,675||1,436,267|
|5|Allocation|of|support costs|||||||||
|||||||||Support||Total|Total|
|||||Basis|ofapportionment|||costs<br>f||2023<br>f|2022<br>f|
||Salaries|||Staff time||||28,414||28,414|26,819|
||ITcosts|||Software cost and||usage||1,880||1,880|887|
||Payroll costs|||Invoiced costs||||2,785||2,785|2,785|
||Bank charges|||Bank charges payable||||100||100|88|
|||||||||33,179||33,179|30,579|
|6|Allocation|of|governance||costs|||||||
|||||||||Activities||||
|||||||||undertaken||Total|Tota I|
|||||||||directly<br>f||2023<br>f|2022<br>f|
||Salaries|||||||19,868||19,868|18,753|
||Audit|||||||9,275||9,275|8,700|
||Auditor —fees for|||other|services|||6,625||6,625|5,700|
|||||||||35,768||35,768|33,153|
|7|Operating|surplus||(total|Incoming resources less|||total resources||expended)||
|||||||||||2023|2022|
|||||||||||f|f|
||Operating|surplus||is stated after charging:||||||||
||Depreciation||oftangible assets|||||||3,869|3,870|
||Operating|lease rentals|||—land and|buildings||||68,342|65,897|
||Auditors'|remuneration||||||||9,275|8,700|
||Auditor's|remuneration|||for non-audit||work|||6,625|5,700|
||Net movement<br>between the decrease||||||in defined benefit pension|||40,000|47,000|
||liability and||the gain on defined benefit pension|||||scheme||||





## 

|||Unrestricted|Restricted|Total|
|---|---|---|---|---|
|||Funds|Funds|Funds|
|||2022|2022|2022|
||||f|f|
|Income from:|||||
|Income from grants and|donations|351,637|79,026|430,663|
|Income from investments||21|1|22|
|Income from charitable|activities|1,068,826||1,068,826|
|Other income resources||8,164||8,164|
|Total income||1,428,648|79,027|1,507,675|
|Expenditure<br>on:|||||
|Raising funds||75,608||75,608|
|Charitable<br>activities||1,247,390|80,116|1,327,506|
|Governance<br>costs||33,153||33,153|
|Total expenditure||1,356,151|80,116|1,436,267|
|Net income/(expenditure)||72,497|(1,089)|71,408|
|Other recognised<br>gains|and losses||||
|(Loss)/ga in on defined benefit pension schemes||189,000||189,000|
|Net movement<br>in funds||261,497|(1,089)|260,408|
|Reconciliation offunds|||||
|Total funds brought forward||(504,077)|7,184|(496,893)|
|Tote Ifunds carried forward||(242,580)|6,095|(236,485)|





## 

|ngible assets|||||
|---|---|---|---|---|
||||Fixtures,||
||Musical|Office|Fittings &||
||Instruments f|Equipment<br>f|equipment<br>f|Total f|
|Cost|||||
|At1April 2022|166,325|126,130|55,314|347,769|
|Additions|||||
|At 31March 2023|166,325|126,130|55,314|347,769|
|Depreciation|||||
|At1April 2022|160,957|125,969|53,591|340,517|
|Charge for the year|2,785|160|924|3,869|
|At 31March 2023|163,742|126,129|54,515|344,386|
|Net book value|||||
|At 31March 2023|2,583||799|3,383|
|At 31March 2022|5,368|161|1,723|7,252|



## 

|ebtors|||
|---|---|---|
||2023|2022|
||f|f|
|Trade debtors|310,018|278,222|
|Prepayments|17,204|16,788|
||327,222|295,000|





## 

|12|Creditors:|amounts<br>falling due within one year|||
|---|---|---|---|---|
||||2023|2022|
||||E|E|
||Trade creditors||||
||Other taxes gt social security costs||42,163|35,888|
||Accruais|and deferred<br>income|309,984|322,165|
||Other creditors||2,810|5,247|
||||354,957|363,300|
|13|Deferred|incnme|||
||||2023|2022|
||||E|E|
||Brought|forward at 1April 2022|307,765||
||Released|in respect of prior years|(307,765)||
||Deferred|in current year|293,514|307,765|
||Carried forward at31March 2023||293,514|307,765|
||Income in|support of2022/23 activities was the following:|||
||||2023|2022|
||||E|E|
||Tuition and course fees||293,514|307,765|
||Total||293,514|307,765|



## 

|14|Defined b|enefit|p|ension scheme asset/(liability)|||
|---|---|---|---|---|---|---|
||||||2023|2022|
||||||E|E|
||Pension|scheme||surplus/(deficit)|159,000|(666,000)|
|15|Retained|funds|||||
||||||2023|2022|
||||||E|E|
||Accumulated||deficit at 1April 2022||(236,485)|(496,893)|
||Retained|surplus||/ (deficit) for the year|887,132|260,408|
||Accumulated||deficit at 31March 2023||650,647|(236,485)|





## 

|6<br>Analysis ofcharitable<br>f|6<br>Analysis ofcharitable<br>f|6<br>Analysis ofcharitable<br>f|unds|||||||
|---|---|---|---|---|---|---|---|---|---|
|Analysis ofmovement|||in unrestricted|funds||||||
||||At 1April||||Gains|on|At 31March|
||||2022||Income|Expenditure|pension||2023|
||||f||f|f||f|f|
|General reserve 8||||||||||
|total unrestricted<br>funds|||(242,580)|1,598,999||(1,575,294)|865,000||646,125|
|Name of unrestricted|fund||Description,|nature and purpose ofthe fund||||||
|General fund|||The 'free reserves'||after allowing for all restricted||funds|||
|Analysis ofmovement|in restricted funds|||||||||
||||At 1April||||Gains|on|At 31March|
||||2022||Iricome|Expenditure|pension||2023|
||||f||f|f||f|f|
|Jane Wadeson<br>Memorial||fund|3,268||8||||3,276|
|Hampton<br>Fuel Allotment|||||25,000|(25,000)||||
|Richmond<br>Parish Lands|||||26,000|(26,000)||||
|Mandy Lee Scholarship||Fund|2,827|||(1,581)|||1,246|
|Barnes Workhouse|||||1,800|(1,800)||||
|Totalrestricted<br>funds|||6,095||52,808|(54,381)|||4,522|
|TotalFunds|||(236,485)|1,651,807||(1,629,675)|865,000||650,647|





## 

|16<br>Analysis|ofcharitable|ofcharitable|ofcharitable|ofcharitable|funds||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
|Analysis|ofmovement||||in unrestricted<br>funds||||||||
|||||||At1April||||Gains|on|At 31March|
|||||||2021||Income|Expenditure|pension||2022|
|||||||f||f|f||f|f|
|Generalreserve||&|||||||||||
|total unrestricted||funds||||(504,077)|1,428,648||(1,356,151)|189,000||242,580)|
|Name of unrestricted|||fund||Description,||nature and purpose ofthe fund||||||
|General fund|||||The 'free reserves'|||after allowing for all restricted||funds|||
|Analysis ofmovement|||in restricted|||funds|||||||
|||||||At 1April||||Gains|on|At 31March|
|||||||2021||Income|Expenditure|pension||2022|
|||||||f|||f||f|f|
|lane Wadeson|Memorial|||fund||3,267||1||||3,278|
|Hampton<br>Fuel Allotment||||||||25,000|(25,000)||||
|Richmond<br>Parish||Lands||||||26,000|(26,000)||||
|Mandy Lee Scholarship||||Fund||3,917|||(1,090)|||2,827|
|Barnes Workhouse||||||||1,200|(1,200)||||
|The Arts Society||Richmond||||||1,250|(1,250)||||
|P&N Harvey<br>Fund||||||||15,000|(15,000)||||
|LSVirgin Money||||||||3,575|(3,575)||||
|HRTTrust||||||||5,349|(5,349)||||
|ConnorG||||||||308|(308)||||
|Peter Willan||||||||350|(350)||||
|Get Lucky Local||||||||40|(40)||||
|SW Road||||||||359|(359)||||
|Other||||||||595|(595)||||
|Total restricted||funds||||7,184||79,027|(80,116)|||6,095|
|Total Funds||||||(496,893)|1,507,675||(1,436,267)|189,000||(236,485)|





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|alysis ofgroup net|assets be|tween funds||||
|---|---|---|---|---|---|
||||Unrestricted|Restricted|Total|
||||Funds|Funds|Funds|
||||2023|2023|2023|
||||f|E|E|
|Fixed assets|||3,383||3,383|
|Current Assets||||||
|Debtors|||327,222||327,222|
|Cash at Bank and in hand|||511,477|4,522|515,999|
|Liabilities||||||
|Amounts<br>due within|one year||(354,957)||(354,957)|
|Net assets excluding|pension|liability|487,125|4,522|491,647|
|Pension asset|||159,000||159,000|
|Net assets including|pension|liability|646,125|4,522|650,647|
|alysis ofgroup net|assets between funds|||||
||||Unrestricted|Restricted|Total|
||||Funds|Funds|Funds|
||||2022|2022|2022|
||||f|E|E|
|Fixed assets|||7,252||7,252|
|Current Assets||||||
|Debtors|||295,000||295,00|
|Cash at Bank and|in hand||484,468|6,095|490,563|
|Liabilities||||||
|Amounts<br>due within|one year||(363,300)||(363,300)|
|Net assets excluding|pension|liability|423,420|6,095|429,515|
|Pension liability|||(666,000)||(666,000)|
|Net assets Including|pension|liability|(242,580)|6,095|(236,485)|



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|The total cost recognised|in the period was as follows:||2023|2022|
|---|---|---|---|---|
||||f'000|f'000|
|Current service cost|||55|73|
|Netinterest||||16|
|Administration<br>expenses|||||
|Recognised<br>in net (income)/expenditure|||73|90|
|Amounts<br>recognised<br>in the balance sheet were as||2023|2022|2021|
|follows:||f'000|f'000|f'000|
|Present value offunded|obligations|(1,854)|(2,788)|(2,832)|
|Fair value offund assets|(bid value)|2,013|2,122|2,024|
|(Deficit)/surplus||159|(666)|(808)|





## 

|Changes<br>in the present v|al|ue o|fthe defi|ne|d benefit obliga|tions<br>were as|follows:||
|---|---|---|---|---|---|---|---|---|
||||||||2023|2022|
||||||||f'000|E'000|
|Opening<br>defined benefit||obligation|||||2,788|2,832|
|Current service cost|||||||55|73|
|Interest expense|||||||72|56|
|Change<br>in financial<br>assumptions|||||||(1,041)|(132)|
|Change<br>in demographic||assumptions|||||(117)||
|Contributions<br>by scheme||participants|||||9|12|
|Estimated<br>benefits paid||net|oftransfers||in||(61)|(59)|
|Experience<br>loss/(gain)|on defined benefit obligation||||||149|6|
|Past service costs, including|||curtailments||||||
|Closing defined benefit|obligation||||||1,854|2,788|
|Changes<br>in the fair value|ofthe pension|||plan assets were||as follows;|||
||||||||2023|2022|
||||||||E'000|E'000|
|Opening<br>fair value offund assets|||||||2,122|2,024|
|Interest income|||||||55|40|
|Actual return<br>on plan assets|||(excluding||Interest income)||(137)|63|
|Other actuarial<br>(losses)/gains|||||||P)||
|Administration<br>expenses|||||||(1)|(1)|
|Contributions<br>by employer<br>including||||unfunded|||33|43|
|Contributions<br>by fund|participants||||||9|12|
|Estimated<br>benefits paid||plus|unfunded||net oftransfers|in|(61)|(59)|
|Closing fair value offund|||||||2,013|2,122|
|The contribution<br>ofeach|major class of|||assets to the fair value ofthe total plan was:|||||
||||||||2023|2022|
||||||||E'000|f'000|
|Equities|||||||1,137|1,269|
|6l its||||||||28|
|Bonds|||||||323|294|
|Property|||||||265|256|
|Cash|||||||79|31|
|Multi-asset<br>fund|||||||209|244|
||||||||2,013|2,122|





## 

## 

|The return|on plan assets was as follows:|on plan assets was as follows:|on plan assets was as follows:||||||
|---|---|---|---|---|---|---|---|---|
||||||||2023|2022|
||||||||E'000|E'000|
|Interest income|||||||55|40|
|Actual return on plan||assets (excluding||interest income)|||(137)|63|
|Total return on plan||assets|||||(82)|103|
|The principal<br>actuarial||assumptions|used|were as follows:|||||
|||||||2023|2022|2021|
|Discount|rate|||||4.8%|2.6%o|2.0%o|
|Expected|rates ofsalary increases|||||3.39o|3.55%|3.29o|
|Expected|rates ofpension increases|||||295'|3,2%|2.89o|
|Expected|rate ofincrease —RPI|||||3 390|3.559o|3,2%|
|Expected|rate ofincrease - CPI|||||2.959o|3.29o|2,8%o|
|The morality assumptions<br>used for longevity|||||(in years) on|retirement|at age 65are:||
|||||||2023|2022|2021|
|Retiring atthe balance sheet date|||||||||
|- Males||||||21.1|21,6|21.6|
|-Females||||||23.5|24.3|24.3|
|Retiring<br>in 20years|||||||||
|—Males||||||22.3|23.0|22.9|
|-Females||||||25.0|25.8|25.7|





## 

## 

||||2023|2022|
|---|---|---|---|---|
||||Number|Number|
|Raising funds|||1||
|Charitable|activities||114|98|
|Governance||||6|
||||121|105|
||||2023|2022|
||||E|E|
|Employment||costs|||
|Wages and|salaries||1,077,863|972,926|
|Sacia I security||costs|61,756|51,715|
|Total pension||costs|217,123|191,241|
||||1,356,742|1,215,882|



## 

|2023|2022|
|---|---|
|E|f|



|Remuneration||||||
|---|---|---|---|---|---|
|Company<br>pension|contributions|to|defined|benefit|schemes|





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|Plant and machinery|||
|---|---|---|
||2023|2022|
||E|E|
|Due within one year||240|
|Within two to five years|||
|Over five years|||
|||240|
|Land and Buildings|||
||2023|2022|
||E|E|
|Due within one year|55,200|55,200|
|Within two to five years|151,800|207,000|
|Over five years|||
||207,000|262,200|





## 

## 

||||2023|2022|
|---|---|---|---|---|
||||f|f|
|Net movement<br>in funds|||887,132|260,408|
|Interest receivable|||(722)|(22)|
|Depreciation<br>and impairment||oftangible fixed assets|3,869|3,870|
|Movement<br>on defined|benefit|pension schemes|(825,000)|(142,000)|
|(Increase)/decrease<br>in|debtors||(32,222)|(199,679)|
|Increase/(decrease)in|creditors||(8,343)|329,991|
|Net cash flow from operating||activities|24,714|252,568|



## 

|||At 01/04/22|Cash flow|At 31/03/23|
|---|---|---|---|---|
|||f|f|f|
|Net|Cash||||
|Cash|at bank and in hand|490,563|25,436|515,999|