Company registration number. 04871846 Chanty re$tratIor number.. 1100443 Musicworks (Chamber Courses) (A compaThy limited by guaTanieel Annua] Report and Financial Sratements for the Ycar Ended 31 Ociober 2024
Musicworks (Chamber Courses) Contents RefeTence and Athini5ts0tive Details 2to17 Trustees, Report Ststement of Financial Activities 18 19 Baianee Sheet Notes to the Financial Statcments 20to30 Ind¢pendent Examinels Reporf 31
Musicworks (Chamber Courses) Reference and Administrative Details Chalrm4n Lachlan Burn Secrelry Elspeth Margaret Ard¢D R¢%iJiertd Offlce 29 chUh Road Tottcmhoe DLrySTABLE Bedfordshire LL'.6 IRE Charity Re¥istratlon.¥llnther 1100443 Independent EiznlD¢r Anihony IVillIaT$ & Co L Treienson Huuse Church Road Pty)I REDRiJlH Corn'all TR15 3vr Pag¢ I
Musi¢works (Chamber Courses)
Truslees, Report
Report
The Ttustecs pre%nt Iheir reporT and the financial $thMentS of MusicIlto$ for the year ended 31 Oetober
2024. The report and financial statemenis Comply 7th applicable 5taturory requiremcnts, the Memorandum and
Articles of Assgciation and the r¢levant parts of A¢counting and Reporting by Ch8rities'. stsiemcnt of
Recommendcd Practice {FRS 102)_ sOnd Eth"tion Ociober ?019.
Objectives and activities
Objectives
Musicworks traÈns youn8 people. from early childh
Musi¢works (Chamber Courses) Trustees, Report SUMM Coursc5 Forry-nine sDJdent4143 in 20231 attended tbe N'o residential Sumrner Courses, .hICh were held ai Talbot Heath School in Bournemouth. Tlll's is still belom. the opnm21 number (561, because of the iniernipiion in Mu51cWorks aciivitlC5 during the receni pandemic which diswpi¢d rccrnLimcnl. Certait]ly re¢Nitment for ihe ve¥ covered by this ReporE i¥as far from norn1, with many peopl¢ shoThin8 SI of reluctaNc< ro commit amid general uncertainty. The first Course had 7 returnees out of 16, although ihe second sbow'ed a more nomJ81 pattern of 18 retwll¢es Out of a total of 3312023 - 14 r¢turnces out of a iothl of 21). Despite the difficuli circumstances, the courses were i'ery sucees$fiJl and included N'elve 51udenis (the 5'oungest bein8 13} who had prevIolY attend¢d Musi¢ll'orks Junior Courses. This continued an experiment Introduced in the PTevivus years and prov¢d io be ¢xtremel)' positive. with all rhe swdenis illtrgraiillg w¢ll. boih musicAIIy and otherwise, wtth older colleagues. Catherine Manson and Robert Max were jothed OD the ieachl'ng 5ff by Nlicha¢l Gurevi¢h (London Hayd Quartet), David Rabknovich (Amsi¢rd8m Baroque OrchesTr ajd A110 Enscmblcl. Danicl Cubeto (Quixote Quarteii and P¢dro Alcalde Iforn)¢r SIStant conducior io Claudio .Ihbadol. Study of chamber n)usic ii'ag thc main fows of ihe WUTse5. but in additiQD Student5 on the first course also studied musieal an31)'si% on the firsr with John CroLkoi (London H2ydn Quanei and Amsierdam BaTOqUC OrLhe5wal, building up ie¢hniques for studyiny scores and und¢rstsnding fomi and srncture. Together ihey crea1 lar¥e scale collages decunsiw¢iiiib and Te¢onslruciing Scores by Mozart, Haydn and Schoenbcrg. On the second cour5c. Chn5topher Sucklillg Ihcad of Hisiorical Perfomiance h¢ Guildkn]I Sch¢M)l of IM5)£ and Drdrn&) came ro work '11h the students on a i'arieiy of topics from the ps}'cholo8v of music IpTcdiction of pattern and differcnt compos¢rs' ways of subv¢nins expeciaiionl to Monleveidi, approached Ihrou8h lexi. sound and hamiony. Rcpertoirc for ihe courses included w'orks. by Webern Ihis Bagatclle$ op 91. Beethovcn's quet op 127. five of the six Mozart strin8 quiniets, piano guarlcis by MoLan, Di'otak, Schumann, Fauré and Turin3 8lon88idc a wide seleciion ofother works by Hay Bcdhoven. khllMan Mendelssohn and Tanryev. A concert was givcn ai the ertd of ¢acb course at nvo residential core homcs. ¢h being rcceiN'ed by both sidents and carc[5 with deep apprcciauon. Once the d8y's fomial tivitIeS W¢T¢ over. studenis i'oluniarily spent their frtt urne plaving mtsre music. For the first few evenings this involved d¢lvin8 IDIO MusicM'orks' music librarv and sighi-rcAdin8 whaievcr they found in¢er¢stin8. On¢ evening became a"Haydn Yi¥hi" 'ith ¢veryon¢ finding 3 8roup and a room in which lo read a Haydn quartet OT Plano irio. later in th¢ cek a series of¢once w'a5 improvised by gTOlJPS 'hO playcd io each oihcr for len8th)' concerts, some lastin8 five h¢)urs. On one occasion the "opiional si8n-up" Concert includcd 22 groups, muDy of whi¢h waaled to play ¢omple* works, M,hich would haie added up lo 36 liows of music had they done 50. These two very supportive audienc¢s - resident$ of care homes and fellow sNdents provide an important contexL enablin8 perfvrncrs and lisicners to understand the music played at a profound levcl. and to 8ain cxperience in sharin8 the ideas contained in the music. In addition to these conecns, ¥ concert was giirn It th¢ cnd of course for family aTMI fft.cnds of ihosc atiending the course. Page 3
MusicTs'orks (Chamber Courses) Trustees, Report Furth sttY Course Two group5 took p2rt in this course which look place at Barkham. a iesideniial ans enue on Exm¢y)r in Dei'on. Th¢ Telyn Quartct (all alumni of th¢ Summer CouTses} snknh"¢d M¢ndie5whn's Quartet op 44 DO 3 and Muzxrt's K575. A second group of alumni who came together for the tas7On of this COLwse - Iqaya de Souz4 Skye ¢l-Shirbiny, Hugo Nlax and Finn AndeN)n-Hendra - worked OJJ Beethoven op 59 no 2 and Ilaydn op 20 no 2. Cath¢riDe Manson worked 7th ¢ach group h1]e the other one rehearsed and at the end of each da). rhe groups played for va¢h other and discussed music21 iopiis whith had ¢om¢ up during rhe day. Tog¢ther thcy workcd on 8 8008le docutneni to ettcapskLlate some of the topics to serl'e as the basis for ongoing thoughts. Tom'ards the end of the week, the 8roup$ .¢1 to play a concert ai a nearby hospice w'hich was I'ery greatlv appreciaied. and on the final day they gave another rttiTal for intereSd local people and family n)embers who had tral'tlled from further aficld. Junior Courses Jwiior courses are non-rcsidenTial and usually tske place oi'er a weekend. There were S I SDJdents' on the Lcwes WLT5e. aged fvIHn 4 w 14. Music rart8ed from Curtain Raisers IDan¢el and Sunrise Sunsd, vi8 stritig quaneis by Abel. Arthur Trew and W¢sley to Gade's String Oci¢t and teacbcrs included flve fornier Musi¢WoTks studcnl5. On SamTday ¢v¢ning around 120 midents and their parents attended a concert ai We5t8a¢e Chapel, w'hcrc three T¢¢¢nt fornier Musicworks students joined Roben for a performance of Di'ol8k'$ C majtsr strin8 quart¢1. which they had 8150 introduced io th¢ students in a session ID the afiem(N)n. The Londort course w35 or8an15ed by Hannah SIoAne and Robert Nlax and &tt¢nd¢d by 31 SDJdenis. with 8 coaches and 2 belpcrs. Fil'e of the ¢oache% of the eight coachcs had attended ml¢'OrkS Summer Courses as students themselves, as well as both of th¢ h¢lpeTs. Aboui half of the Siuden15 had ott¢Dded a Junior Course before and new sNdents ume because theiT teacher (both privAte and at school) su88csied li io Ih¢m. Thc ag¢s of the swdenis ranBed from 7 to 14. For nwiy. it u?£ ihcir first cxpericnce of pl&ying chamber rnu%ie. As usual, each studenl received four 45 minute coaching sessions. and ev¢ry-onc played in nvo SL8ht reading S¢5$iOnS. Alongside .5 ourse, Catherine Manson workcd ro8cther with ihre¢ sludcnts who had prc1.i-th$Iy aiiendcd Junior courses on A sp1&1 proje¢¢. The Harri50tt Frank Foundaiion M7$ holdin8 a 8ala evening ai the Foundling Museum and askcd if Mi usi¢Works Tlli8ht be ablc to prcscnt a group to play at th¢ occasion. This 0UP workcd together at the sarne sch¢)ol. while ihe Junior Course was iaking pl8¢¢, on MoLart's "D1s50nancc" Quanel. They played the first mo%'¢m¢nt of Ihe piece for the Junior course students during the cOue and iniriatcd discussions bout the composition. Th¢ youn8cr srudents were excilcd to see peoplc onj!, a few year5 older than ihemselTre$ 18king part in this and it Was very h¢lpfiJl in thc prepardtson Cor ihe gala cott¢ert. Pa8e 4
Musicw'orks (Chamber Courses) Trustees, Report Musicworks Sundays This series of eight one.day events %'hi¢h takes plate at Kings Place in London is fully funded by a donation from the Alben and Eugenie Frost Music Tn]st. Lp ¢0 four 8TOUPS can ai*nd each of th¢s¢ ¢i'¢nts 'here ihe receive coachin8 throughout the day from a tcam of hi8hlv Tespecied Chambct mu$ic e¢lalISLS and have the ch&n¢e 10 perforni for each oth¢r at th¢ end of the day. This provides an important OPPOTrunity for sNdents who have Tllet at thc sl[ller Courses io conttnue playing together and dei'cloping th¢ir knoM'led8e, experience and understanding of music. It has also 52rved a5 an opporruniT)' for fornier students 10 bnng ihe ¢nsembl¢s ih¢y have formed in tertiary education sellings io work on mwsi¢ together in a differeni context. Ib) Operational Actiiities- Fundriisitsg A concert was held in London on 26 Noi'embu 2023. Three groups . resurrecied from the Summ¢r colse5, perfornied works bj. Haydt), Dvolak and MeDdelssohn to an audience includiD8 pairons and guesis and an amount of ju5r over £30,(K)O was ra15ed 10 fund Musi¢lVorks actii'ities in the comin8 year and io Supplemeni the Company's strategi¢ r¢s¢Tr¢s, which had been si8nifLcanily depl by the disTUPtion$ uu5cd by Ihc recent p&ndemic. MArketlnE fundrAlslni The followin8 discussion of markeun8 and fimthi$ing relaies to the activilies that Musicll ork8 undcnakcs on regular basis. It d0¢5 not. therefore, take ac¢ount of the bequest Teceived in 2018 &5 the purpose of this section ig 10 8ive a view of thc fvndjrtg of Musicll'grk5' norn1 tIvI1]es, which M'ill not be nded by that bequcsi. lal Markeiing On Ksurnption of its acti%'ities followin8 th¢ di$Npuon ¢aus¢d by Ihc Covid pandemic and ihe conscqucnt Icgal restriLiiuns on gatherings Musi¢Works ha5 had to rebuild ils T¢Lwiunent aciii'ili¢s. In nornial limLs IhL Company actively markeis its courses using a variery of means. Infomiaiion and an applicaiion lomi arc avoilable on the website. The inTenie¢ has increoseil as a point of firsi conthci and ihe 'ebsI[e has been upd&ted regularly io ensur¢ the inforrnation which ir ¢oniains is CUTr¢ni. In¥tagrdm is also an in¢rcasingly important meihod for reaching porenuul app11¢An for Summer Courscs. The JUDIOT Course5 are also beginnin¥ 10 provide Tecn]its to the Surnmer Courses. Over thc years immediaiely prtteding the onsct of the pandemic MusLcWorks n¢filed Significantly froTn .ord of rnouih" marketin8 as those wlbo had aii¢nd¢d course5 thlkcd 10 their conta¢i$ and recommtndcd ihc courses io them. Howrver. the disrupiion caused b}, the pandemic and lockdo8 had. to an exien¢. broken thai ¢hgin, but there are signs thai the resumption of ¢OUT5es during the cutT¢ni ond pr¢>ious ycars havc hclped ¢0 re4stabli$h the ¢hain of conlacts. Pa8c 5
Muslcworks (Chlmber Courses) Trustees, Report Ib) Fundraising Tbe raisin8 of fimds is ver>. importani to Must¢Works. As coutse fee5 do not come near to covering The costs of nmning the courses. the Cotjjpany twrnully has a substhniial operating l¢)ss. The main reasons fvT this deficit are: . The faet that the Company ain ¢0 take styJdeT based on rnerii and their abiliry. io benefit from the cour5e5. rath¢T than on their ability io pay the full fees. . Perceived compebtion from other music courses lespeeially orchestral cours¢51 which constyains the ability io raise pric¢s. The fir51 factor is eThtir¢ly ¢onsi$i¢n¢ wi¢h MusicWork.%' .4iatU5 as a charity havin8 tt4'0 di51inci purposes to achieve the objectives set out above and w'here possible to benefit those from less affluent backgrounds. This is important. bccausc it crcare5 a tension with the s¢c¢)nd factor. Ei¢n if compciition M'¢r¢ noi a traInI, there is level beyond which Musi¢Wo2s would not wish io raisc lis fc¢s. for fear of losing srudettts who would not apply if thev ihougiil th¢ f¢¢s WCT¢ beyond their r¢a¢h. Given these coostyaints. COSTS inevithbly exceed QP¢Taiing revenues. Musicworks tri¢5 to fill the gap in several y5. The fiN rtlies on self-help.. when not prevented from doing so by events such as the pandernic, ,1cWOrkS Organises fundraising ei'enis. swh as COD¢¢ns. These concerts resumed itt 2023. The balance of the deficit has to be funded by donaiions. Charitable trusts fonn an irnporrani pan of this funding. However. much of the filnding from ihis souwe 1$ derived from tsusis ihai will only commi¢ for a sin8le )'eAr, and some of these tNsts do not welcome fih¢r ipplicatlons Lll subsequeni ytars. This led Mu%icWorks ro set up a Patrort Scheme to atuaet individual donors who are prcpartd to eommit ov¢r longer ri9. usually of three yeaTS. P4uons are people who shaTe .1¢WOrkS. vision. 'hO know and like the y it operaies and who, on the basi$ of this personal Lnvulv¢min¢. are prcparcd to hrlp ihL Ltxdrily by commi¢lin8 a 8lVCrt amount of money. or an equivalent donation in kind (for cxamplc the contribution of a piano for the ¢ourses, a venue or food or wine for fithdrai$inB ek'ents or ihe donation of music for Ihe library) over period of several years. This sharcd ini'olvcmcDt of thc Patro% proiidcs a relai>%ely siablc $uurcc of fid5 which supplcmcnts the fidIng obtained from chan'table trusls. A list of the ¢u¢nI Pairons is sei out ai the end of this Repon. Maintainin8 the balance of incornc aDd expendilure is [t an ca5y proie5s. Expcnditure tends io be 0[C pr¢dictablc than in¢om¢, whi¢h varics as donors ar¢ rrKTrr¢. or lcss. iTh¢lincd io providc fiLnd5. This is compli¢aicd by Ihe faci that donors do noi always time their 8ivin8 to coincide K'ith the linancial year, $0 Iha¢ a regular dnnor may rnakc two annual donaLions thBi f811 within a sin8lc ycar. thus boosting incoTllC for that ycAr. bui rcducing it for thc n¢xl. Partly as a result of this Inevithble liming mismaich of fijndins and expenditure. Musiclvorks. accounis 50metirne5 show a profit and someiimc5 a 105s. Howtier. the trettd vi'er ¢he five years imm¢diately preceding th¢ pand¢mi¢ had b¢en towards a neuiral posilion. Incvitably. Ihc ad>crse flnancial effects of thc pandcmic hive had a $i8nifi¢ani effect on the op¢raiion$ and fLnan¢es of Musicworks. as noicd in thi5 Rcpon and thc accompanyin8 financ2al stsicment5. although the effeci is le55ening as time elapses memory of th¢ pandemic fades. The Trustccs monitor this 5Ltuation and ende&&oux its ¢n$ur¢ thai in¢om¢ and ¢xpenth"tur¢ become a8ain tnore closely ali8ncd over future firwicial periods. Pa8e 6
MusScworks (Chamber Courses) Trnstees, Report {¢) The Belinda SeYnr-N1chOlS Bequest In 2018. Musicworks receii'ed a b¢quesi amounTing 10 £79.7?8 from the estate of Belinda SeJinouT-Nichols. The Tntte5 and Memb¢rs of MusicWork5 decided thai both th¢ ¢apithl and the iniercsr of the bcque%i will bc used to purposes thai are wiihin ihe ¢barilabl¢ objecuves of Ihe CoTnpany but are addiiional to lis noTmal a¢[11¢s. The Tnte¢S and Klembers consider 3nttualls' ho. Ihe beque51 should be applied. pending 'hICh the furt(L% are invested on a pnmleni basis_ It i% ¢Krted that the filnd will be llY eXpeted within 7 10 1 O yedrs. Dunng th¢ period covered by this Reptsrt, £6.554 of the Bequest finan¢¢rt coaching s¢ssions and 3ccominodalion for the Tel) Quanci (all alumni of thc Summer CouT5es1 and a sccond group who came iogcthcT for the Further Swdy course. Flnanclal Revlew The operating and operall financial position of MusicWoTks is improving. with an o%'erall loss in 2023 of just over £ l O,O(K) turnin8 into a small profit of just und¢r £5,IKK) in 20?4. resultin8 in a small recovery of reserves that had be¢n depleied by the disruwion caused by thc pandemic. tnv¢5tTn¢ni and r¢8¢tv¢s poh¢y The objective of The Comp&n>' is to Tnaintain a reser%r equal to a prudent expeciation of any FM)ssibl¢ funding defieit {Ios5 b¢for¢ donations) ond 10 eliminaie any risk of a n¢¥aiike ¢a$h flow due to mismatch of iimin bctwcen expenditure and receipi of donation5 and othcr incorne. MusicM'ork5 receiN'ed a bequest of l43.65.1 during the year ended 31 Oetober 2008. which. combiThed '1th reiained 5urplus¢s in subscqucnr ycar3. coniinucq to meet this obj¢cti%'¢. Ai the year end the reserves. less the w)used portion of the Belinda Seymour-Nichols Bequesi, amounred 10 £48,886. The Company r¢uin5 0 5ignifi¢ani portion of lis reserves as cash '1th lis bankers. The amounr so rctained 1$ that which the Cornpany consider5 nrtCsry lo rnana8e cashflow IDec¢5sitsicd b> the faci that exptnditUTe precede5 income receipt. to a sisnificant ¢xi¢nt) and to h8vc imm¢diai¢ly avwlablc in cas¢ of an cmcrgency, raiher than bein¥ subje¢i to any short-iemi investt))eni risk hs a r¢suli of m8rkct volatility. Part of the Belittda Seour-NIcbOlS Bequest M7s retained for w in ihe short tenn and the JOrIty of lh¢ remainder was inve8ied during the Jeat preceding this Report in a fvnd. in th¢ hope thai ii will provide somL protection a8aLnst inflaiion. Part of thc Compart5 s funds that are not considered necessary for Tetcrttion in cash 5 the Teserve referred to aboN'e have also b¢¢n invesied in • Yparate inrerest-bean'n8 bank account which allows instani acce%8 without pcnaliics. R¢lat¢d Party TTansa¢tions There were rto related partv trnnsaetiottA durirt8 the period which thi5 Repon rel&trs other than those referred 10 ID ihc finan41 stsicmenis for that pcriixl. Expenditure Exp¢nth"tw¢ foT th¢ y¢w ha5 been excl1velY pIled towards the ¢)bj¢¢tjV¢s of the Company. Battking faciliiics The Compatty banks with CAF BanL a subsidiary of th¢ Ctwittes Aid Fvundaiion. and the Cuoperative Bank. Page 7
MusicorkS (Chamber Courses) Trustees, Report Events sllbsequent to the fMan¢1 year end 121 Plans for 2025 Musicworks is planning to hold swTr)mer couw and to Coniinue w'ith irs other nomial a¢¢iviiie$. Musicworks will conrinue its cfforts io attraa thc n¢SSary funding for thcsc &¢tiNili¢s. i]dIng through the holding of a fithat$lg ncert toward5 the end of 20?4 Ib) Long teml StrAte8y In the shorter renn the Company is siill fowssing on how to rttover from th¢ adverse effects of the pandemic. The SwDmer Courses had prior io the pandemic, b¢¢rt thlly sulTrscrib¢d for 2 number of vears. Wailing lists w¢r¢ becotnin8 lonser. However. the rcstriciions and unccrrainiies caused b). the pandemL¢ chanB¢d this siiuaiion, nukmg il mor¢ difficult 10 attr4Ct siudenis io ¢OUTS¢S. As mcnrioned above, however, Musicll'orks ]% H'orking io reverse this trettd. In the longer terni the Company ¢onstsntly CODsiders ho li ean enlarge Lis a¢tll'llLes. Over receni years the activities have devLIopid ¢onsiderablJ', with the development of Juniur Courses. the Summer Cuurses, Musicworks Sundays, the Further Swdy Cour5e5 artd thc recent introduction of (Kcasional dedicai¢d coachiing sessions by Musicworks Members. Continual expansion 1$, ho¢Ver. noi casy or d¢sirdbl¢. MusicWork5 is buil¢ on iiery specific foundations and underlyin8 concepis thai n¢¢d to bc pr¢8crved in Jny expansion. Thcsc eoncepL% have becn dcvclopcd by, and are to a very lar8e exieni embodied in. the exisiing members, 'hO are busj. professional musicians and cannot, Iherefore, lighily all1¢ signif1¢8nt gmounts of addiiionai time lo teach on fullhei courses. As explained in the Annex it is also nul pvssible 10 in¢reos¢ the numbers aii¢ndin8 the exisiing Luurses. b¢¢ause ihis would 5ignifieantly detfdct from their collegiate attnosphere. Any expansion Mill thercfore depcnd. 8nx)ng other things. on briD8in8 into the or8anisation other leaching staff who sharc the ethos artd .lUeS ofihe curreni Members. To fg¢1litate this process. the nuniber of Leaching glAff on each course has been increased ovcr %i'eral vcars in ihe hope thai new sthff M'ill develop an understanding gf Musicworks, ieachiti8 methods and ethos and tha¢ some of them M'ill. over time, w15h to become nre nn4n¢ni m¢mb¢rs of siaff, perhaps utlderfakins ihe 5upcfvLSiOll tsf additional cours¢s. where the Lurrenl mcmbers are unabl¢ to do so. This policy is illusiraied irt practi¢¢ by Hannah Sloan¢, a former MusicWoTk5 Student. who now runs one of the Junior Courses and is a T[Itt of Musicworks. lThe policy will be continu¢d. if possibl¢, in Ihc ncxt financial year. Artoiher con8traini on expansion is funding. Every addxtional swdem and e%'ery additional course will add io (he overall operatiOELal loss of ihe Company. giv¢n lis chariiablc nature and obj¢¢iives d¢s¢ribed earlier in thi5 Report. Despite this, the Company is act1.elY tonsiderirt8 futtue d¢velopment and h&% put in placc straiegies designcd to hieve expansion of lis &ciThities in d4W ¢OUTSe. Page 8
-Musicworks (Chamber Courses) Trustees, Report Structure, GoTrernAnee 4nd Management MicwOrkS is a chwitsble company limited by 8uaTaniee. Jt M75 incorporated ot) 19 AuBUSt 2(X)3. It5 objects and powers are sei out in its Memordndurn of A&sociaiion and it is goi'¢rn¢d in accordance 1th procedures sei out in its Anicle5 of Assoctation. The Tnjsiees are selected and appoin1 bv ihe Membcrs. On ¢l¢¢iion of a new Tnlee, one of th¢ ¢xi$ting Tru5tee5 or a.Mernber w'ill explain the objec15. straiegy. goi'crnance and <)PCTations of Nlusi¢Works and, dqKndiDg on the expenence of the new TnLStee. the duiies and responsibilities of the positiort. Mu5icWork5 is organiged so thai the TTUStCC5 m¢¢t regularly io manage ils affair*. 0cra11 responsibility for nnagement and direciion r¢st$ 14.ith the Tnlee$. How"ever. das. to day admini51ration is deleg)ted io the Chief Executive Oleer. who Jnay from lin time further delegate specific tasks to other mcmb¢r% of the Company. M¢mb¢rs of the Company are also aclively involved ID ie2ching durin¥ the courses run by MusicWork5. for which they reccive remuneration ai market rate$. Il'ith the excepiion of Ihe ChÈef Executive Officer, H,ho receives Temuneraiion ot markei raies, the TN%tee5 aThl Members thinisor ihe Company on a voluntary basis and are nor rcmunerated for iheir adrninL5trdriN'¢ dutics. Th¢ Compan). undmake5 comprehensive risk as5esstDeDts. paying particular attention to thc fact th&t those alleuding the majority of ihe courses are rnostl). under 18. As a resuli of those assessrnents. 5epgrai¢ Safeguarding ChadT¢n and Health and Safely poliLies hai e been developed an(1 ar¢ rcgularly reviewL,d by Mu$i¢Works and updated wheTe necessary. to cover poiential ar¢as of ¢onc¢rn. The Child Protecuun PoliLy, which is refv'iewed annually, wa5 WTitien following th¢ NSPCC guJdelit)es and after considerable 5rudy of Similar or8anisations' polici¢5. It aS rnieM'ed and approied by the Swrey Area Child Protection Committe¢ and has been s¢nl the Child Prorcciion Commiiiees in the art8 in which Musieworks holds Its Summcr Courscs. A copy of th¢ poli¢ie$ is displayed both on the websiie and also on the main noiice board ai ea¢h ¢ours¢ so is to accessible io $Ndenis and parents. Those aticnding th¢ ¢ourses lebe[S and domestic hclper5 are given copies of Ihc policies arml each m¢mb¢r (Jf staff a copy of the code of c(TrnduLt 5CCtion. Ln addition. Mu5iell orks obtains a Currcni cenifL¢aie Irom the DBS IDisclosure and Barring Service) for each teacher and helper, ensurtn8 thht none of them has a criminal record. Funding risks ore subjeci io rc8ular rcvicw und the Members and Trusiees mtti regularly to considcr ways to diversify and increasc fvndin8 Isce ".Iqarkehn8 and Fundrnisin8" alx)ve). Inlernal ¢onirol risks gr¢ minimi5ed by Ihe implernentaiion of procedure5 for auihoriwion of ail significani expendiwre and by ensuring that re$ponsibiliii¢s arc properly deleg81 Mu$icW'orks currenily m8iniain$ a minimum resernt fitnd ihat i¢ dcems 10 be sutTicient to mana8e cash flow flucDJations and to pm'ide it Ii'ith prndent proie£Tioll against curreni risks. Ai the end of the financial yegr. it had ¢ash rcserv¢s of £73.755. Pan of this is th¢ PTo¢c¢ds of thc Bclinda Scymour-Nichol¥ B¢'qu¥si, which will be used for purposes outside MusicWork$' norn1 operaiions. and pan represellis the reserv¢ referred io above and fund5 raised but not expended duTinB previou5 years due 10 the lockdow. Tbe remainder represents PTC-fllnding for thc following year's athl7¢$. It will nonDally therefore be expended in runnin8 MusiLWorks' aciLVLiies during the following year. The Trustees believe that this R¢ry)rt ond the policie5 adopted by ihe Company adequately identify (he operdiionai and busineqs risks faced by Cornpany and confirrn that they have es¢abli5hed 5y5tcms ro manag¢ $u¢h risks. The Trustee5 and Members ha&e consid¢r¢d and implemenied ihe requirements of the UK General Data Protection Resulalion I"GDPR") As IncoOr&i¢d Lnto the laws of the Lnitcd Kin8dotn. The Compony s Da18 Protcction Policy, which incoorat£s those requircmettis, Is published on the Company's website. Pa8e 9
Musicworks (Chamber Counes) Trustees, Report Reference and Administrative Information Charity Nam¢ Charity Registration Number Company Registration Number Registered Offi¢c and operational athtress Trustees 51clY0[k5 (Ch4rnber Courses) Limity 1100443 487 1846 29 Church Road. Toitemhoe, Bedfordshire, LL'6 IRE Lachlan Burn (Chairman) Elspeth Arden {S¢crrlaryl Simon Rowe Michael Spenccr Alex Tam1 Cuih¢Tin¢ MJn50n (Chief Exc11.e Officer) Ruben M¢LX Executive OffiecrsNcmbe Company Secretary El$pdh Ardcn Anihony Williams & Co Limited Chartered Accounrants, Tre%'enson House. Pool. Comw811 TR15 3PT CAF Bank. 25 Kin8'$ Hill, 11-.esi Malling. Keni, MEI 9 4JQ R¢portin¥ A¢¢ountant Bankers Page 10
Musicwork5 (Chamber Courses) Trustees, Report Responsibilities ofthe Directors Company law requitts the Directors (who are a150 the TnLStcesl to prepare financial 51atements for each financial year th1¢h give a trne and fair l'it of the slate of th¢ affairs of thc Company as ai the balance sheet dale and of ils incoming resources and application of resouTfC5. Including inwm¢ and expcnditure. for th2 r]Dancial year. In preparing thos¢ financial stsicments. the Dsr¢ciors should follou. besi prdclicc and.. . Select suitable a¢¢out)ting policies and then apply them consistently • Make Jud8emettts and estimates thai ar¢ reasonable and prudeni and Prcpar¢ the financial staieTneDts on the going nCern knis unless it is inappropriate io assumc that the Company will conlinue on thai ba51S. The D]r70T5 are responsible for rnaintaining proper accouniin8 records ivhich disclose with re&%onable 8¢curacy at any time the fanCial positiot) of thc Company and io ¢nable th¢m Cnsure that the finanLial statemcnts comply with thc Companies Aci 2006. The Dir¢¢10 are also icspvnsible for safe8uarding the assets of the Cornpany and hence for taking Teasonablc steps for the prcvcntion and d¢ieciion ol fraud and other irregularities. The Trustees, who are direcwrs for th¢ PUTP)se of company law and ¢nLSttts for the purpose ofchariry law. who served durin8 the year and up the date of th]"s report {excepl where iThdicaredl are set our above. In accordance with eOTDpany law. as the Compan$ direciors. w'e cerfify that.. . So f8T as we are aware, there is no releyant audii information of which the Companys auditors are unaivar¢ As the directors of the Compan}. we ha'C ¢akcn all the step5 that w¢ ought 10 have raken in order TO rnake ourselves aware of any relevant audii informaiion and w estsblisb thai the Company'5 auditor5 are aware of thai inforTnation. Independent Examiner$ Anthony Williams & Co Limited were Te-appoinied &8 the COMP9n$ indcpcndcni examiners during the ycar and have expresscd thciT WLllin8ness to continue in thai tapa¢iry'. This report has been prepared in aCCOTdane¢ with applicabl¢ siawiory r¢quir¢m¢nts, th¢ Nqemc)randum and Article5 of A&S(latiOn. the relevani parrs of 'A¢ting and Reponing by CharitiC5.' Sraiemeni of Recornmend¢d Pra¢ii¢¢ {FRS 1021- Sectsnd Edition Odobcr 2019. and in COrdanCe with the special provisions ofpdrt 15 olthc Companies Act 21M)6 relaiin8 10 small ¢nlili¢s. Approved by the Tntstees on . . IJ 202land $i8ned on their behalf by: I L.Lo_ IL Lachlan Burn Ichaimian) Page 11
Musicworks (Chamber Courses) TTh$tees' Report Patrons Elspcth Iachlan Burn The Dacia T&sker Memorial Fund Steven and Joan Fogel Margaret Grimsdell RaytN)nde Jay Oscar (in men[13M) and Margaret Lewisol Michael and li'cndy Max Michael and Seiko Mizuts-spettcer Sitllon Rowe and Krysia Ososrowicz NAI and Rebecca Sloane Alex Tamlyn Aidan Wood¢k (Honorary Patyon in memori8m) Page 12
Musicworks (Chamber Courses) Trustees, Report Annex What MuJlcWorkJ Do Musi¢Works trdirt% young people. rang from rhe e8rliesi age at which a child ean hold an instwment io early adultho. to play and apprcciaie chamber music. li short ¢OUt£es for ¢hildr¢n b¢tween the age5 of 8 at)d 14, longer, more int¢nsive. courses for 5tthis aged b¢nveen 14 and 18 al ¢OUTses for young adults setting up charaber group5. Younger children. below ihe ag¢ of 14, anend short non-resideniial weekend courses. Students aged be¢ween 14 and 18 attend residential wcek-lon8 courses during the summcr months. In addition, Mu5icMlorks run5 a series of $fty days (Musi¢Works Swidaysl. All of the ¢ows¢s are rpjn by the Members of .Mu5icWorks. who are professiot)al Chanther musicians. and. in the case of the London Junior Course. a Trnstee who also a fornier swdeni of Mu&)clVorks. How l¥lu¢workS Op¢r•les PartiCiP8nts in the COUT5e5 ate divided into small groups, many of whi¢h include a professional chamber musician coaching from within th¢ group. The Course environmeni is non-comp¢tirive as in a competitive enN'ir()nmeni the of music can beme a v¢hiLl¢ for the demon5rration of technical ¢xp¢nib¢ rather than an livity that fosi¢rs a deeper undersianding. Thi$ imponan¢ facior distinglli5hes IlusicWork8 from otlier similar courses. Ideas aboui forn)m8 an interprthiion ar¢ shared within the 8rtsup rniher than imposed by 8 ieg¢her. S¢udeni$ on lh¢ SummcT Courses also 5thy conwsition and closely relatrd topi¢s which assisis thcir understandin8 of thc music they play. On thes¢ courses. fvrnal 5DJd)' during thc da). is supplemented by iThtornul music making in the e%'ening% with $tudcn¢S (omung their imprompnL groups to play works Cho.¢) by them from Musicllork5' LXlcnsivL library of chamber music. The emphasis of the WUT5CS is on the process of discovery [8th ihart on prtsdu¢in8 a finishcd product. Nevertheless the summer courses involi'e p¢rfornYdn¢es for thrce extremely supportive audiences . firsi for ihe mu5i¢ions them$¢lves w'here everyoftc in the 4udi¢n¢c. includin8 ieachcrs. is also pcrforniin8. second for audiences of elderly people IJJ rIdentIal horrtes and third for parenis and friem¢ts at the end of the courses. Pag¢ 13
l¥lusicTh'orks {ChY4mber Courses) Trustees, Report Why Do It: Musicworks IS Lmportant for a number of r¢a50ns. FirsL li brings talented young people into direct Contact 5ignificartt music. Music is a language and its function is io ¢om]nunic#ie ai the point where uther languages stop. It gives those who parti¢ipai¢ in ils creation a @0( depth of under51anding of whal it means io be bU[nl, through the comrnunicatiots of the composer's experiences. emoiioDs and ideas. Bv enablJn8 yoijn8 musicians to experience chamber music throu8b performing it. Musieworks enbaDces their edu¢81ion in a fundamental ?Y. Second, involvement in playitt8 chamber mu5i¢ ieachcs imwrtant skills including team-working. consideratJotL of aliematiie points of view and the Imp)rtance of negotiation and compTomi5e. In small groups each player is an important and equal pan of a team. responsible to the other players in a way thai build5 mutual support and confid¢n¢¢. Studen15 gain an unijerswiding of conflic¢ and ho Lonflicl can be resolv¢d. Great music often cmEx)dies signifjcant conflicts. expressed in harnionic and tbemaiic t¢rn. thai are in most cas¢$ resolved. Living through This expenence by playing and listenmg io music leache% imponant l¢sson5 about contlict resolutio a5 does the priKess of d¢¢iding w'hich of thc many p)ssibl¢ intcrprctations should be adopted. This inevilably produ¢¢s diffcrcnt l'icws and while irL¢orw>rdtin% someone clse s conrrBry idea may initially seem likc a eompTomi$c, the presS of rkirtg rogethcr w'hilc bcing opcn io new, ideas rather than resSStirtg them allows th¢ wjiential for enomious de%'eloprnent, both musically and personalls,. for all coJ)cerned. Onc¢ these lessons are learncd in the context of plaviD8 chamber music. they can b¢ applied anywhere. The Sunmier Courses include a wider range of aBe and abiliiy than many oiher Similar courses, thereby bringing youn8er or less experi¢n¢ed players into conthth with thosc furthcr along lh¢ same puth And generating dn environment in which the older players fccl the) can contriburc SOmhl ihai bcnefiis lh¢ youn¥er OllLS. In most contcxis, an age diff¢rcnce of only & f¢w years can creaie a significani gap bciweeii youn8 peoplc. Paniciparion in Musi¢Works ¢ourses leaches children thai in the coniexi of engaging great music. age is irrelevant and profound insighis are just 85 likely 10 come from th¢ youngesi in th¢ gTOUP as from the ulde%l. This w'illingness 10 Sce people as they ar¢ and noi as dcflned by Ih¢ir ag¢ transfers iiself io other coniextg. The diversity of age. rdcial. cuinwal 8nd social backgrounds amon8 the smdcnts and Ica¢her8 working closcly 108cther also helps to rei'cal the undersw)din8 that .4uperfL¢ial differcnce$ beNre¢n people merel}. disguise fundamental similarities. The size L)f each of the re5idcwial courscs is deliberalY re$trici¢d, enablin8 rveryon¢ to get ta know each oiher well and to feel inc14Jded. Third, Mu5i¢WoTks has an indirttt objeet - the promotion of ehamber music in tht Wlder community. Many youn8 Ople learn ro play an instrJmeDi well bui slop pla}'ing regularly hCll Ihey rcach adulthood. One rcdson for this 15 lack of opportuni¢y, bause playitt8 an Inswmcnl loihLY than a k¢yboard instrumcnil AIoD¢ Can l)e a r¢latively unrethardin8 expericnce. Chamb¢r music 8roup5 are usily fomicd - one onlv needs io find a few like.rninded collcaBues, fri¢nds or nci8hbour%. Studcnts who dc%'elop a pas&ion foi Chamber music are muLh ]Mrc likely 10 continuc playing throyghoui Ihcir aduli lif¢. By doin8 SO, porticularly when they play for othcTS, they gile Chamber music playing a positive role in socicry. li is this idea th?I has led to the introduction thf tl)e course for older students who havt fornied iheir quartets. This is a naiural pro8re%sion for Musicll'oTks. which now pro%'idc5 trainll io Chamber Musici from thc youngesi c'Id whts can play an irtsttument io youn8 adul¢s who are ftirming Chamber groups, either processiottal or arnOr. to k¢ chamber music into the wider world. The main obj¢ctivc of Musi¢Works t$ tb]ing th¢ creation of th¢s¢ direct artd indirect bencfJt5. In a¢hievin8 jts objeciivcs. the Company aitTL8 io promoie exccllencc and enrhusiasm for chambcr music and to do so M'ithout regard io the ability of the indiTr'ithial to pay the nornil fee* for the COUTse. The idcal 15 th8t t&leni. willin8ness to Icun and puential should be the dderniining fa¢wrs thai enabl¢ students io parti¢xpatc in the ¢ours¢s. Page 14
Musicworks (Chamber Courses) Trnstees, Report The Further Study Quanct Course is held frouh time to lime. WI neoj arises and funding is available. It 1$ primarily for fornier ML)sicThorks Students are too old io au¢nd tht oiher courne% and, hairing forTned iheir owi groups, require funher coaching in perfomiing chamber music (although groups wilh no former association with Musicworks may also be invited on occasionl. MusicWork5 decidd to introduce tbis ¢lerDent into its regular tivitIeS for severdl important reasons. F2r5t. it is a nattlral extrnsion of its acriviiies. Students who are older than 18 Cannot attend ihe other courses but may still need help ès Ihey forni cbambcT music groups. It IS appropriate that.Mu5icWorks should ¢oniinue the work it has started and help such groups in their fomJaTion sia8es. Second. it is perhap$ tbe final step towards the a¢hie&ement of one of Musiclvorks. main objecrives - to proNK)te chamber music both for those who perforni it and for those irt Ihc wider communiry. A5SiSting new chamber music groups. who will go on io perform in public al an iniernaiional, national andior local level, completes the musical mission thai begins. for Mu8i¢Works. with children ofpriniary school age. Third, due to scheduling conflicts ond a rAnge of diiftteni prioritie$, music colleges find it difficuli w provide the intensiv¢ experience nece&%ory develop chamber music playing ai o higli Icvel. SDJdenL* who 7$h to develop their qkills chArnr musicians mu51 therefore look for additional suppon from those who are already esiablish¢d in ihe ch}Lmr music worl(L such as ihe musician% are a¢tii'ely inN'olved M'ith MusliWoS. The offlelAI obJe¢¢lves of Musl¢Works These a¢iivitie5 are ¢he pradical impl¢Tllentation of the CompoDy's objectiv¢s. as sei out in its Memorandum of Assoclalion, which aTe'. l. to educat¢ the public in the aff of rn1¢. 2. to advance ihe educaiion of the public in Ihe art of chamber M1¢ and ensemble playin8 and the 8Crternl ¢uliiidiioTr of chamber rn51¢ and ¢1mb]e pia}'in8 as an art. 3. to irain children and youn8 people in the art of playing ¢lwllbeT music and ¢nble playing. 4. to promote high standatds of training for teachers of music with particular referen¢e to chamber music and ensemble playill8. Pag¢ 15
MusicorkS (Chamber Courses) Truslees, Report Muslcworks summer 2024- A fem, eomments from parents and students Thank j'ou so much. Iour daughteTI had a wondcrful time and her enihusiasm for the musÈ¢ she played, as w¢ll /0. ADd we wllv enjofved the whole ¢on¢¢rt. Hcanfelt as for mussc sn general, has increased b) aboui 500¢ 1 thanks for evcrything. I just Walld to drop you a message io thank you and your fantasiic team for th¢ ama2ing experienLe of rhe Sutnmer Course. Iour dau8hier] had a 'OnderfUl tim¢ there and sh¢ told me ho*. inspiring And enriching the whole week has beerl for her. ADd I would atso like io personally thaDk you for your care and lo%'e for her. With gratitude. The concert wis amhzimg. Iour dauEhierl had the lime of her life lasi week and is still buzzingl Thank you so much for all your hatd WOTk and enthSIasM io Djake the week so 5pcciai. Thank you so much for an absolutelv incredible 'eck. Don't know hat I'd do w'iihoui my yearly dose of Musi¢Worksl Feels like I manage io thscoi'er more music 'thIn one eek ai MW than I do the eniire rest of the year. Truly ¢h¢ most rnagical wrek and l arn so graiefvl io all of >ou for ¢akn"ng the time io Coac'Or¥anIsc1plaYlrcad with us. I will rteker forgct the pcrfornidnces lor mdybe a b¢it¢r word ihan ih81.. 'Il of (our cntire w'orksl in th¢ final house concerf- it special. I'll be clurching on in that mcmory... Thanks again for such an amazing music Works course. lour dau8htLYI had a w'onderfijl timc and has 5p¢nt the 1&51 we¢k sighing and fussin¥ about bein8 back ai School when she would raiher be playing chamkr music. l am wrting to share my expeTiert¢e ai Mu5ieWorks. a week that I forevu cherish as one of the rnosi enri¢hin8 and transfornjative pcriods of musi¢-making in my lifc...I had the opportuniiy tv fully iii)mLrse myself in thamber M]C, di0VCrift8. and perfonnin8 pieces alon8$id¢ talenied mu8icians. This cxpericnce d¢epened my undersianding of collaboNion, musical inierpre¢aiion, and ihe an of bringing no(es on & page to lif¢. One of th¢ most rewarding a5pcciS of the '¢¢k M'as ihc collaboratii'c armosph¢Te. The chambcr music sening Wdturally enc¢)urd8CS a Sense of ini¢rd¢p¢ndence. and I found myself Icarning as much from my fcllow musician5 8s I did from the music itself. We cn8aged in opcn dialogue. exchanging ideas on phrasin8, dynan)ic4, and tempo. It wa% fascjftating io witness hm4' differeni interelationS of ihe same psage could e%'oke entirely differeni emotions. By tO8Cther, we 8radually dei'clopcd shared &i¥ions of Ihc pic¢¢$. Throughout ihc week, we were also foffunate to havc a¢¢¢iS ex¢¢piional 08¢hing. The coaihc5 at MusicWoTk8 we incredibly 8enerous with thcir umc and cxpcrtise. o(Tenng us invaluabl¢ feedback thai pushcd us io think moT¢ deeply about the musi¢. Their insigh15 Thot only helped us refu)¢ our technique bui also ¢n¢oura8ed us to focus on the emotional irtteni behind the notes. Page 16
lusicworks (Chamber Courses) Trustee5' Report TrnsteeJ #rtd offl¢ers The 1rn51ee5 and officers serving durin8 the ycar and since the ycar ¢nd were as follo5.. Trustees.. Alexander Tll]v Simon David Rowe Elspeth Margaret Arden Mi¢ha¢l James Spcn¢er Hannah Mary Acheson Sloane Chairnian.. Laclll&n Burn Secretary.. Elspeth Margaret Arden Statement of truitees, responsibilltl¢s The trustees Iwho are also ihe direcroTS of m81¢workS (Chamber Courses) for the purposes of compally law) are rcsrx)nsibl¢ for preEwin8 the trusiccs, report and the financial stsiemen15 in ac¢ordall¥e with applicabl¢ law and United Kingdom A¢¢ounting Sthndards {Unii¢d Kingdum G¢n¢rdlly Acccpied A¢¢ouniin¥ Praciice}, in¢ludin8 FRS 102 The FiDan¢i81 Reporting Siatmlard applicable in the LK and Republi¢ of Ireland" Ctsmpany law requires thc irusie¢s ¢0 prepar¢ financial SleMentS for cach financiai year. LndeT CoMpY law the trustee% must noi approv¢ the fLllAncial siat¢ments unless thes. arc $81i5fied iha¢ they 8ive a rne and tair view of the Ithte of affairs of ihe chariiable company and of the in¢oming resources and application of resources. including its income and expendiDJre. of thc charitable ¢OmPAny for that period. In praring rhcse finAn¢ial 51Utemcnis, the trusices are requir¢d io= 5elcct $uitabl¢ CoUntIng policies and apply them e4msistenily: observe the methods and prmciples in the Charities SORP: make judgements and ¢stimate5 that tre rcasonablc prudcnt: st8te whcther applicable o¢¢ounlin¥ standards. comprisin8 FRS 10? hav¢ been follow¢d, 5ubjcct to any maierial dartUreS disclosed and explained in the finaneial SleMen(s, and prepare the fllwKial sutemen15 ott Ihe going concern basis unless li is inappropriale to PTcsume thht the chari¢ablc company will ¢oniinue in business. The mLsie¢s arc responsible for kcepirts proper a¢eouniin8 re¢ords ihai can disclo* '1th rea5ott8ble accuracy 8t any lime the financial position orth¢ ¢hari¢ablc company and cnable them to cnsurc thai thc finun¢ial stalcm¢nls ¢omply u'ith the Companie5 Aci 21M)6 Thc>' arc also t¢wnsible for sAfcguarding ihe asscts of the charitable company and hettce for tskn'n8 reasonable sieps for the prei"eniion 3Dd derection of fraud and o¢her irregularitie5. Thc trustecs responsible for the mainlcnance and inic8riN of the ¢orporate and tinan¢ial infomlaiion included on the chariiable compartv's websiie. Le8islatiort governin8 the pr¢p8T8tion ind dissemin81ion of r]nancial stsiemem5 may ditTer frotn I¢B15]atson ID other jurisdiciiott5. Pagc 17
Musicmorks (Chamber Courses) Statement of Financial ActiTritie$ for the Year Ended 31 October 2024 ncluding Income and Expendltllre Account and Siatement of Tot21 Recognised Gains and L055es) LDresiricied Restrict¢d funds Toial 2024 Total 2023 Incorne And EDdowment5 frnm: Donarions and legacies Activitie5 10 further the charity's objects Investment income 54.oryo 11,530 65,600 40.858 51.704 2,285 51,704 2,285 52,885 653 Total Inwme 108.059 11.530 119,589 94,396 ExpeDdlture on: Charitsble activities 1110,133 (4.660) 1114,793) 1101,2471 Total Expenditte GAinsllosses on investment a$¥¢ts (110.133) 14.6601 114.793) 1101,2471 1155 {155) 13.2441 Net lexpenditur¢l,' income Transfers beN'een funds 6,870 8,620 4,641 110,0951 Other recognlJ¢d gAln5 And losses N¢r movclnertl in funds 6.391 (1.750) 4.641 110,0951 Re¢on¢iliatlon of funds Toial brought fornird Totsl fimds ¢Arricd forward 117.617 1,750 119,367 129,461 14 124.008 119,166 All of the chariry's activities dttii'e frorn coThtinuinB opcr41ions dufing ihe above N'o peri¢)ds. Transfcrs be¢wcen Trds are rcsthlled doThalions h1¢h hai'e been used tQ CON'LY admission for students. The funds breakdown for 2023 is sho*Tr in note 14. The notes on paBes 20 10 30 fonn an integral part of these fmancial StstcinL1$. Pa8e 18
.Mu$icworks {ChAmber Courses) (Registration number: 04871846) Balance Sheet as at 31 October 2024 21b24 2023 ote Ftxed #$sets Tangiblc assets InN'estments 47.948 37.134 47,948 37,134 Current sseti D¢btors COpera1]Ve bank account CAF bank accoutht CAF Gold account 10 5.405 7,136 18.272 48.347 63.751 17,6S7 2,634 79,160 85.186 Credlttsrs: Amount$ fsJlln% due wlihln ytr Net eurrent 151et$ 12 13.1001 12.9541 76,060 82.232 Net Asseis 124.008 119,366 Fundi of Ihe ch#rity: Restrleted 1,750 Unre$irlcted lttcomt fundi Unrestricted 124.008 17.616 Total 14 1?4,008 19.166 FOT the fjnancial year endittB 31 Octobcr 2024 the charity was entitl to exemption fTom audit under sccrion 477 of the Companies Aa 2006 rel1n8 to small companie5. Directors, responsibilili¢5'. The metnbers have noi T¢qUiTed th¢ charity to obtain an audti of its accounts for thc ycar in question in Ic¢ordan¢¢ wilh 3U0n 476; and The director5 acknowledge their r¢sponsibiliii¢s for complying with the requirements of the Aci with r¢spect to accoLLntin8 r¢¢or(ts and tbc preparation of accounts. The financi staiements ott pa8e5 18 10 30 were approved by the mLS1¢¢5, and authorised for issue on . and sÈsThed on th¢ir behalf by". La¢hlan Byrn ChairnJan Elsp¢th Margard Arden C¢)mpany S¢¢r¢tary and Tnte¢ Thc nolcs on pa¥es 20 10 30 ftirni an illte pon of these financial stsiem¢nts. Page 19
Musicm'orks (Chamber Courses) LNotes to the Finydn¢i Statement$ for the Year Ended 31 October 2024 l A¢¢owntlng pollcies Summry of sigDific411t etouthtin% polkÉe$ and key c£oyntlng esiimates The principal accounllng policies applied in the PTepard(ion of these financial statemenis are set out bcloM'. These p)li¢ies h&t beerL consisteDily appbed to all th¢ years prescnted. unlcss oth¢rwis¢ stated. Siitement of compllance The financial stat¢menis have been prcpared in occordance F?th Accounting and Reporting by Churiri¢s.' Staterneni of Recommended Prarticc lapplicable io charitics preparing thcir accounts in accordanc¢ with Ihe Finan¢ial ReponiHg Slandard applicable in the LK and Republic of Irelartd IFRS 102}1 {i%sued in October 20191 ICharilie5 SORP IFRS 1021). the Financial Reportin8 Standard applicable in thc UK and Republic of Ircland IFRS 102) and the Companies Aci 2(K)6. BslJ of prep#r#tlon Musicworks (Chamber Courses) meets the definition of a public benefit enttty under FRS 102. Assets and liabilities are initially r¢cognised at histori¢41 ¢o$i or tr8nshctiort i'aiue un1¢$5 othcrnise $tcd in rhe relci'ant a¥¢ouniing p)LL¢y notes. Gokng concern The trustees consider that there are no matcriaS un¢enainiies aboui the charity's ability io ¢oniinue as a 80in8 concern nor any signifjcanl 8reas of uncenainiy thai affttt the calDS value of asse¢s held by the charity. Income nd endowmeots Voluntary income in¢ludin8 donatioLs, gifts. leg¥cies 8nd granis thJi proi'ide core fufyjing or ar¢ of a general notUTe is rOnIsed when it is probabl¢ that the income will be received and the amouni can bc mcasured with sufficient relÈability. F¢¢ Iome is reco8nised when thc cbsrity hjs titlement io ihe incorne. leg4ci¢i DonatLOrts are rcco8nised when thc ¢harily ha5 bccD DOtifL¢d in *Tiiing of boih the amount and seiilemcnl daic. In the ev¢ni thai a donation is suhjeet 10 conditions thai require a Iciel of perfomiance by thc Chariry before th¢ charity is eniiiled to the funds. Ihe income is deferred and noi reco8nised until either those condirions are fully met, or tlke fi]IfJlmcnr of those Conditions is 'hOllY withiti the CODTrol of the chsriry and it is probable ihAi these conditiUJLS will be fulfill<d in the reporting periud. Expendliurt All expendirurc is rcco8nised onec th¢r¢ 15 ¥ legal OT ¢onstNcrii'e obligallon to tho¢ expendiftire, Ll 1$ Probable $ettlemenl is r¢quir¢d and the amouni Can be me&4ured reliably. All ctssts are allocated to the 8ppli¢8ble ¢xp¢nditure heading thai aBgreg8tr similar costs 10 thai caicgory. Where cosis c8nnot b¢ dire¢tly artribuicd io parti¢ular heo(tings thcy hav¢ becrb allated on a bast5 ColSitl with the of resources. wilh ¢¢nlral $iaff Costs allocated on the basis of iirnc spcnt. and depreciarion charges allocated on the ponion of the asset's use. Other swort costs 8re allocated bLsed on the spread of staff costs. Pase 20
Muslcworks {Chamber Courses) Notes to the Financial Statements for the Year Ended 31 October 2024 Choriloble 4¢1iwlde5 ChariLqble expendittwe comprise5 those costs inaured b}. the charit). in the deliverv of its activiiies and serniccs for its beneficiaries. It in¢lud¢s both ¢05ts thai can be alioeated directly lo such aciivities and those costs of an indiTect natur¢ n¢cessary support thern. Support ¢ost$ Support eosis include central fi]ncuons and have been allocated to aaiiiiy cost categories tsn a ba51$ ¢onqistcnt wilh the use of re50urce5. foT example. stsff costs by the lime speot and other cosrs by th¢ir u$88e. Governan¢e Costs These include the costs attributable to th¢ chariry's ¢ompliancc consiinEriond and stsiutory requiremenls. including audil. stralegic mana8emeni and truste¢s mcetiD8s and r¢imbursed expense$. TiAtlon The charity IB ¢OD5id¢rcd 10 pass the tests sei oiii in Paragraph I Schedule 6 of the Finawe Act 2010 and ther¢fore li meets the defjnition of ? charithble comphny for LK corporation rax purposes. Ac¢ordin8ly, rhe clwity IS Fx>lentially cx¢mpi from laxation in re5ct of in¢om¢ or capital gain% received within ¢aiegori¢s cov¢resJ by Chapier 3 Part I l of th¢ Corporation Tax Aci 2010 or Seclion ?56 of th¢ Taxolion of Chargeable Gain5 Act 1992. to the cxient tha¢ such it)¢ome or gains are applied exclusively to chaniable purrK>scs. Depr¢¢litlon •nd an1$AllOn Depr¢¢iaiion is provided on tangible fixed as5¢ts so as to off the cost or valuation. less any estimiied residual value. over their eX¢t¢d us¢fvl cconomic life as follows.. Ajset clss Cornpuier equipm¢nt Depreclatlon meihod and rate 3 years Str8ighi linc Flxed #siet Inveitrnents Fixed asset investments. oth¢r than prograrnme relatcd investments. are includcd at market value Bt th¢ balance shcei date. Realis gains and10sses on ini'cs¢ments are calculAlcd a5 thc diffcrence between salcs proceeds and their markei value at the stall of thc year. or their subsequcni ¢OSL and are Charged or credited to the Siat¢m¢ni of Financial ActlVLtie5 in the period of disposal. Lnreali%ed gains and los1 represent the rnvemcni in market values during the ycar and are crediicd or charBed to the Statement of Financial ActitieS bosed on the market value at the year end. Trade debtors Trad¢ debtors are amounts due from CusmeT$ for r¢trlse sold or seNices perfomed in the ordinary course of business. Trade debtor5 are reco8ni5¢d initiolly ai the transaction pri¢¢. They ore subsequcnil}' m¢asur¢d at amortised cosi ustn8 the etTxtiv¢ interesl meihod, less pro.1$10 for impafftn¢nt. A proiY5ion for thc imp#irm¢nt of trade debtors 1$ esiablished when there is obJe¢iive evidence thai Ihe ¢hoTiiy will noi be able to ¢oll¢ci all amounts due a¢cordmg io the 0ri8inal tem)$ of the rec¢ii'abl¢s. Pa8e21
Musicm'orks (Chamber Courses) Notes to tbe Financlal Statements for the Year Ended 31 October 2024 Cash and ta$h equivaleDIS Cash and cash equii'alents comprise cash on hand and ca]1 deposiis, and other shorr-term highly liquid investments ihal are re2dily converLible to a kJ)own aTllount of c&sh and are subjc¢i to an insignificant risk of change in value. Borrowlng$ Th¢ ¢han'ty no borrowTrgs. Forelgn ezchonge TT8nsactions in forei8n currcncies are recorded ai Ihe rdie of exchange ar the dale of the transaction. Mottetary assets and liabilities d¢nominai¢d in foL8n curr¢nci¢s ai the balaThce sheffl dai¢ are r¢sx)rted ai the Tales of exehan8e prevailing ai dale. Th¢ results of over5fdS op¢rati¢)ns are trnnslated 91 the ai-eragc iatts of exchang¢ during ihe period and their balance 5heeL%' at the rates njling ai the balance sheei daic. ExLhange diff¢r¢nces arising ¢)n translati¢)n of the openin8 nei assets and result5 of overseas operations are reponed in other Comprchensl2 income and a¢¢umu]ated in equity 1allribud to non4ontrollin8 int¢$ts as appropnaiel. Oihcr cx¢hange diff¢r¢nccs are reco8nised in th¢ StatemeDi of Financial Adivili¢5 in Ihe Peri in which Ihey arise excepi for.. l) ¢xchan8e differenc¢$ on raractIonS cniered ittio to h¢dge certain foreign currthcy risk51stt abovc); 21 ex¢han8¢ differettce5 arising on gains or losses on non-n¢Y i*ms which are retogni$¢d in othcr comprehensive ineom¢.' and 31 irt the case of th¢ consolidated financial 51atcm¢nts, exchange difference$ on monctary items rcceivable from or payable io a foreign opeTation for M'hich settlement 15 neither planned nor likely 10 occur (therefore forniing part of thc net l[LeStInent in the f¢)re1 operntionl, w'hich are rognISed itt othcr comprehensivc income and reponed utmler equity. Fund $tru¢iuTe Unre%trieted income fimds are 8eneral funds that are availabl¢ for use ai the tnjsiees, discretion in furtiwance of the obje¢iiv¢s of the ¢hAn'ty. Designated funds arc resiTicied fimds set iside (or specific purposes at the discreuon of the trusiceg. Restricicd income fimds ar¢ thos¢ donaied for use in a particular arca or for specific purposcs, the use of which 18 restrieted to that ar¢a OT PUIPOSe. Page 22
Musicwork5 (Chamber Courses) Notes to the Financial Statement5 for the Year Ended 31 October 2024 FlnAtheial instruments C&Tssifi¢4tson Financial ass¢ts and financial liobilitics arc rccogDised when the charity becomes 3 party to the contra¢iual Provisions of the iD51n]meni. Financial liabiliiies are clal[led aordIng io the sub5tan¢e of the confra¢DJ81 orran8ements eniered into. Recognlon dndmeasuremeni All financial ets and liabiliiies are inirially m¢aSUTed ai Transaction pric¢ lin¢luding trat)sa¢tion c0515), exc¢pi for those financial assds classified &s at fair i'alue tllrough profit or loss, hICh are initially mcasured al fair value I1¢ is normally the trallsaction price excluding transaciiot) cosisl. unless rhe amng¢ment constitutes a finan¢ithg transaction. If an arrarlgetneni con51iDJies a financing trdnsacrion. th¢ financial asset or finan¢ial liability 15 measured ai the pre5cnt value of the payments discouDr¢d 81 a market Ne of interest for 5irnilar debi insttumenl. Financial a55¢ts and liabiliftes are off5¢t in the sthiement of financial position when. and only when ihere exists a legolly ¢nfor¢eable right to set off Ihe recognised amounts and the chan'ty intends eirhcr io settle on a nct ba%is, or to rvdlise th¢ asset and settle the liabiliry simuitsnetytsly. Financial assets are derecoBni5¢d whetL a} the contractual rights io the cash flows from the finaneial asset expire or arc settled. bl thc charity transfer5 10 anothcr party subsrantially all of thc risk5 and r¢'4rd5 of owiership or the financial assei, or cl the chariry. d¢spite hailng retained som¢. bui noi all. SilfIcant Tisks and rewards uf OWnhlp, has trhnsferr¢d ¢ontrol of the fiss to another parry. Firvdncial liabilities are dtteco8nised only when the obligation S¢ified in th¢ contraci is dischargcd, caneelled or expires. Page 23
i U5icworks (Cbamber Courses) Notes to the Finaoclal St4tements for the Year Ended 31 October 2024 2 Intome from donAtlons leglcles Unrutrlcted fuDds D£gnated ner Rtstrltted funds Total fuDds Donath'ons and It8acics.' Donations from ¢ompanies. tru515 aud similar proceeds DonatiVll5 frotn inth'viduals 20,863 11.530 32.393 33,207 33207 Total for 2024 33,207 65.600 Total for 2023 21.253 4.650 14.955 40.85M 3 Income from Acdvltl¢s lo fvrthtr the chrlt> s obJ¢¢ts Lttrestrided funrts Toiil 2024 Total 2023 Course fe¢$ 51.704 51.704 -52.885 4 Investment l¢ome Total 1024 TOIBI 2023 G¢ntrAI Income from dividends; Dividends receivable from other lis¢ed investmcnts Inicrcsi receiNablc and similar income.. Inlcresl receivable on bartk dcposi 1.529 1,529 378 756 756 275 2.285 653 Page 24
Mu$icworks (Chamber Cour5e5) Notes to the FiDanciAI Statements for tbe Year Ended 31 October 2024 5 ExpeDdltur¢ on charitable actlvltles Totsl 2024 TotAI 2023 ¥ot¢ Musitworks op¢ration ¢Mts Musicians, fees Travelling And tran5FQrt Musiciw)s' fees r¢3trici¢d 38.638 3.264 4.660 36.396 4,288 3,900 46,562 44,584 Cost of runnlng courses A¢commodaiion and food Insuran¢e Domestics, feeb Course expenditure 42.415 557 6,140 548 32.350 518 5.241 6%8 49.660 38,797 Govtrnartte toJtJ T¢l¢phone Adminisiration fee5 Web5iLe updaic and mainienance Prinun8, POSla8e and $tionery 377 12.400 300 479 650 12.550 300 246 13.756 13.746 Legal And proftsslonAI ftei Accountancy fces 3.136 2,935 Other Sundry ¢xp¢ases IlJbli¢iry and advertisin8 926 654 577 525 1.580 1.102 Fltsinee eh#r8es Bank ¢h8r8es 99 TDtg1 114.793 101.247 Pag¢ 25
Musicworks (Chamber Courses) Notes to the Financial Stydtements for ihe Year EDded 31 October 2024 6 Tru$te¢s r¢muneradoll #ttd tiptnses During the year tht ¢lwi"ty made the following transactions with tru5tc¢s.' Hnthah MAry A¢hesoD Slone Hannah Mary Acbeson Sloane received r¢mun¢rauon of £1.900 (2023.. £1.4801 aDd £125 12023.. £239) 01 ¢xpenses W¢Te reimbursed to HanDalL Mary Acheson Sloane durin8 the year. Page 26
lusicivorks (Chamber Courses) otes to the FinAnciAI Statements for tbe Year Ended 31 Oclober 2024 7 T#xati•n The chariry Is a regiswred cljarity aDd is therefore exCp1 from thAlo[L 8 Tangible fixed sets Furniture equipment Totwl Cost At l November 2023 879 879 At 31 O¢tober 2024 879 879 Depre¢l#ilott At l November 2023 879 879 At 31 October 2024 879 879 Ytt book wlle At 31 October 2024 At 31 Ociolxr 2023 9 Flxed •$se¢ IDI'tJtmenii 2024 2023 Other irti'estments 47,948 37.134 Page 21
lusieworks (Chamber Courses) otes to the FID2n¢ial Statements for tbe Year Ended 31 October 2024 Other Investments LSsied Toill Co$t or yull0 At l November &023 Revaluation Additions 37.134 (155) 10.969 37.134 10,969 Ai 31 O¢¢ober 2024 47.948 47,948 Net book value At 31 O¢iober 2024 47,948 47,948 At 31 October 2023 i7.134 37,134 10 Debton 2024 2023 Gift Aid Owed by sNden¢s 824 320 5,405 5,405 1.144 11 C$h cash equivalents 2024 2023 C&8h at bank 73.755 84,042 Pagc 28
Musicwork5 (Chamber Courses) Notes to the Financial Statements for the l'ear Ended 31 October 2024 12 Creditorj: 8moutsts flling du¢ Tlthln tsne year 2024 2023 Accnial$ 3,1(M) 2,954 Accrua15- Aceountsrtey A¢¢n5 - TelephoD¢ 3.050 50 2,900 53 13 Charlty st8tus The eharity is limited by Share capital. iWoOrated in . The addre of its r¢8i5tered otTi¢e is.. 29 Church Road Totiernhoe DLWSTABLE B¢dfordshir¢ LU6 IRE Pasc 29
i Usicworks (Chamber Collrses) otes to the Financial Statements for the l.ear Ended 31 Ociober 2024 14 FuDd5 Balnee •t I overnber Incoming resourc Re50urc¢& txpended Balance at 31 October 2024 2023 Unrutrifted 117,617 116.679 (110.2881 124.008 Regtrlcted 1,750 1.530 113.2801 Totsl fllnds 119.367 128.209 123.568 124,008 The specifi¢ Purposes for which th¢ funds aT¢ to bc appli¢d are 85 follows.. Restrictcd fidS are used w preseni the serics of MLLsicWorks Sundays and support bursttries donated (o individual 51udents. 15 An•lyJli ol net funds At l Noi'ember FlnnLlng tash At 31 October 2023 llows 2024 Cash at bank and in hand Debt due '1th1n on¢ year 84.04? {10.2861 4.261 73,756 5,405 Net debt 85.186 16.02<1 79.161 Pagc 30
Musicworks (Chamber Course$) Ind¢p¢ndent Examiner's Report to the Irustees of Nlysi¢works (Chamber Courses) ('the Companv,) I rwrt to the charity trust¢¢s on my examination of th¢ accouDts of the Company for the year ended 31 (ktober 2024. Responslbllldei #nd basis of report As the ttwiees of Nlusicworks {ChauLber Course5} lalld also its direciors foT the Pu05¢S of ¢ornpany law} you are responsible for the prepardiion ol the accounts in a¢¢ordat)¢e with the requirements of the Cumplliiies Act 20061.the 2006 Aci'l. Havin8 Sat15fied myself that th¢ 8¢u1$ of Musicworks {Chamb¢r Courses) arc noi required to be auditcd und¢r Pan 16 of the 2006 Act and are eligible for independcni examinaiion, I repon in respect of my ¢xaminaiion of your charity's accounts as eaTTied out under 5eetion 145 of the Charities Act 2011 I'the 2011 Aci'l. In Carrying out my examiDaiion I hwve followed the Direcllons giien by the ChaTiry Commission under section 14515llbl of the 2011 AL'1. Independent ex8mlner'$ 5tatf m¢nt I hai'e compleied my examination. I confirth thai no mltters h&%e come to my Attention irt COTmection the cmminatxon 8iving me cause to believe.. accouniing records were kepi Ln Jrspeci of Musicworks (Chamber Courses) as required by section 386 of the 2006 Act,. or 2. the accounis do not ac¢ord with those records; or 3. the accounr5 do not Comply M'iih th¢ ac¢ountin8 f¢quLrcm¢nts of sc¢tion 396 of the 2(K)6 Act oihcr than any requirement thai ihe accounts gi¢ a 'ttiw and fair iiew which is not a maner considered as part of an indcpelldeni examintuon: or 4. the accourt¢s have noi been prepartd in accordance with the methods and principles of the Siaiemeni of Recommcnded Practice for Accounting and reportin8 by Ch'11t5 lappljublc to chaTities pr¢parin¥ their accounts in aecordanee with the Financial Rcponin8 Standard applicable in the UK and Republic of Ireland IFRS 102)]. I have no concem5 and ha%'e come across no oiher mailers in ¢onnerfion 7th the ex8rninarion io which att¢ntion sho Id be drawn in thi5 report in order EO ¢nabl¢ a proper undcrstaTrJiD8 of thc a¢£ounts io be reached. K¢iron Siephcns ACA FCCA ICAEW Treven50n House Chureh Road Pool REDRUTH Cornwall TR15 3PT Date.. Pgge31