2024-04-30-accounts - The Bedfordshire Music Trust

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The Bedfordshire Music Trust (Limited by Guarantee)

Report and Financial Statements

Year ended: 30 April 2024

Charity Number: 1104849 Company Number: 04195243

The Bedfordshire Music Trust (Company Number: 04195243)

Contents For the year ended 30 April 2024

	Page
Legal and Administrative Information	1
Report of the Trustees	2-4
Statement of Financial Activities	5
Balance Sheet	6
Notes	7-9
Independent Examiner’s Report	10

The Bedfordshire Music Trust (Company Number: 04195243)

Legal and Administrative Information For the year ended 30 April 2024

The Trustees present their report and financial statements for the year ended 30 April 2024.

Reference and Administrative Information

Charity Name: The Bedfordshire Music Trust Charity registration number: 1104849 Company registration number: 04195243 Registered Office and The White House operational address: Odell Road Sharnbrook Bedford MK44 1JL

Trustees

Mrs C Astridge (Resigned 4 July 2023) Mrs J Brown Mr B J Greenwood Mrs M A Russell Mr J P Sheehan Treasurer and Chair Mrs J Smith Mr J C Waters Mr N Wood

Secretary

Mr B J Greenwood

Bankers

CAF Bank Limited, 25 Kings Hill Avenue, Kings Hill, West Malling, Kent, ME19 4JQ Clydesdale Bank PLC , 154 -158 Kensington High Steet, London, W8 7RL.

The Bedfordshire Music Trust (Company Number: 04195243)

Report of the Management Committee For the year ended 30 April 2024

Structure, Governance and Management

Governing Document

The organisation is a charitable company limited by guarantee, incorporated on 5 April 2001 and registered as a charity on 12 July 2004. The company was formed under a Memorandum of Association, which established the objects and powers of the charitable company and is governed under its Articles of Association. In the event of the company being wound up members are required to contribute an amount not exceeding £10.

Recruitment and Appointment of Trustees

The directors of the company are also charity trustees for the purposes of charity law and under the company’s Articles of Association are known as Trustees. Under the requirements of the Memorandum and Articles of Association the retirement of one third of the Trustees is required and the retirees may apply for re-election at the Annual General Meeting.

Risk Management

During the year under review, the charity’s activities completed recovery from the restrictions of the Coronavirus pandemic in the UK. A full return to operational methods that had been the norm pre-pandemic returned the charity to a risk position similar to that faced in 2019 and earlier years. Levels of risk are noted in the Achievements and Performance section below. The Trustees have sought to put in place operational procedures to ensure that the trust meets its statutory duties to all music course attendees and the staff who tutor them, making the rehearsal and concert venues safe and secure environments for all concerned. This includes putting in place relevant insurance policies and taking professional advice to develop and implement robust systems of checking and supervision over such matters as safeguarding young people. It is our priority to ensure courses are able to go ahead safely and securely.

Organisational Structure

The Trustees met bi-monthly and responsibility for different roles was assigned to individual Trustees and these Trustees communicate regularly to ensure the trust continues to operate smoothly. With the increased number of courses, the assignment of duties between the music-manager and the Trustees needs to be carefully monitored to ensure resources are adequately marshalled. For music projects, individual project managers are appointed, reducing the trust’s ongoing administrative commitment, but enabling resource to be provided at the appropriate time cost-effectively.

Trustee recruitment remains a priority and engagement with individuals with the appropriate skillsets to carry out the role of trustee is one of the main themes for 2025.

Christiane Astridge stood down as a Trustee on 4 July 2023, as she felt conflicted in the role of Trustee, parent to students benefitting from the trust’s operations and being an active member of the Bedfordshire Youth Opera (“BYO”) production team. The Trustees would like to thank her for her valuable input into the operation of the trust and the useful liaison she provided with the BYO team.

Objectives and Activities

The object of the charity is to advance the education, appreciation, enjoyment and participation in music and the performing arts for school children and people of all ages within the county of Bedfordshire. This geographical limitation does not adequately describe the area within which the trust operates and with the formation of Music Education Hubs a number of years ago, the trust has found itself more closely with young people, not only in Bedfordshire, but from the surrounding area, particularly Milton Keynes. A proposal to extend the area covered by the trust’s objects to the local authority areas of Bedford Borough, Central Bedfordshire, Luton and Milton Keynes will be put forward at the next meeting of Trustees.

The Bedfordshire Music Trust (Company Number: 04195243)

Report of the Management Committee For the year ended 30 April 2024

Achievements and Performance

During the year the charity’s activities were focused on continuing to adapt our course offerings to meet the requirements of the current educational and social environment, as a full programme of face-to-face courses was offered. The Trustees consider course offerings to ensure they meet the needs of today’s young people.

We continued to work closely with the 4 Music Education Hubs that cover our principal geographical area and have been instrumental in helping these 4 Hubs work more closely together. Following a review of music education provision, the four local music education hubs, each covering a local authority area, successfully bid for a combined music hub covering the four local government areas under name of the BLMK Hub, which commenced operation in September 2024.

BYO staged a full production of Massenet’s Cendrillon in 2023. Student numbers were maintained from the previous year, but audience numbers were lower than for the previous year’s more well-known work. The work itself demonstrated the flair of the BYO creative team, with innovative stagings and scoring of the music. Rarely before has a change in scenery elicited spontaneous applause from the audience! In 2024 the company returned to more familiar territory, with two shorter works – Purcell’s Dido and Aeneas and Weill’s Down in the Valley.

The charity continues to host the Michael Templeman Memorial Fund which aims to enhance the playing opportunities for young string players by acquiring string instruments and make them available on loan to young students who might otherwise find it hard to buy a suitable instrument and by supporting other activities, such as master classes for string players.

In carrying out these activities we have complied with the guidance issued by the Charity Commission with regard to fulfilling the charity’s public benefit duties.

Financial Review

Attendance at youth music courses has returned to the levels being achieved immediately before the pandemic. Consequently, levels of income and related costs have increased. The trust’s offerings breakdown into two distinct categories, with some courses being self-funded, often helped by third-party donations and grants, and those courses operated in partnership with the local music hubs, largely financed by those hubs. In terms of financial risk, the BYO productions have the ability to generate most income, alongside incurring highest costs. In particular, the BYO production of Sweeney Todd was successful financially, allowing a dedicated reserve to be laid down that has benefitted both the 2023 and 2024 productions.

Investment Policy

Under the Memorandum and Articles of Association, the trust has the power to make any investment which the Trustees see fit.

Reserves Policy

It is the policy of the charity to maintain unrestricted funds, which are the free reserves of the charity, at a level which would be sufficient to cover annual management and administration costs and to respond to emergency applications for grants which may arise.

Plans for Future Periods

To fit in with the time demands on young people our courses, with the exception of BYO, are offered principally at half-terms and on some weekends. Our provision for higher-end players and singers is now focussed on the 4 Hubs Orchestra, now the BLMK Orchestra, chamber courses and on the BYO. For younger players we have continued our Orchestral Jamboree course and it is expected that this, alongside other activities for intermediate students, will continue across 2025.

Our website and social media presence are proving to be effective means of communication and the website continues to be a convenient means for securing course bookings.

We will continue to seek new partnerships and develop our role in setting the strategy for music in the County by continuing our partnerships with the BLMK Music Hub and participating in the Hub’s Oversight Board.

The Bedfordshire Music Trust (Company Number: 04195243)

Report of the Management Committee For the year ended 30 April 2024

Responsibilities of the Trustees

Company law requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the state of the affairs of the charitable company as at the balance sheet date and of its incoming resources and application of resources, including income and expenditure, for the financial year. In preparing those financial statements, the Trustees should follow best practice and:

select suitable accounting policies and then apply them consistently;
make judgements and estimates that are reasonable and prudent; and
prepare the financial statements on the going concern basis unless it is inappropriate to assume that the company will continue on that basis.

The Trustees are responsible for maintaining proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and to enable them to ensure that the financial statements comply with the Companies Act 2006. The Management Committee is also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Trustees

The Trustees, who are directors for the purpose of company law and Trustees for the purpose of charity law, who served during the year and up to the date of this report, are set out on page 1.

This report has been prepared in accordance with the Charities SORP (FRS102) and in accordance with the special provisions of Part VII of the Companies Act 2006 relating to small entities.

Approved by the Trustees on 24 January 2025 and signed on their behalf by:

J P Sheehan

Chair and Treasurer

The Bedfordshire Music Trust (Company Number: 04195243)

Statement of Financial Activities

(Incorporating an Income and Expenditure Account and Statement of Total Recognised Gains and Losses) For the year ended 30 April 2024

*Note* Incoming resources Incoming resources from generated funds: Charitable activities Music courses Student fees Ticket and programme sales Voluntary income: Donations and fundraising Activities for generating funds: Bank interest receivable Total incoming resources Resources expended Charitable activities Music courses Governance costs Total resources expended 2 Net movement in funds 7 Total funds brought forward Transfers Total funds carried forward	Unrestricted Fund £ 2,995 1,503 10,668 458 15,624 (11,483) - (11,483) 4,141 14,229 - 18,370	Restricted Funds £ 8,090 9,884 4,182 - 22,156 (24,905) - (24,905) (2,749) 18,173 - 15,424	Total 2024 £ 11,085 11,387 14,850 458 37,780 (36,388) - (36,388) 1,392 32,402 - 33,794	Total 2023 £ 8,300 14,612 23,672 227 46,811 (43,338) - (43,338) 3,473 28,929 - 32,402

The statement of financial activities includes all gains and losses in the year. All incoming resources and resources expended derive from continuing activities.

The Bedfordshire Music Trust (Company Number: 04195243)

Balance sheet

For the year ended 30 April 2024

*Note* Fixed Assets Tangible Fixed Assets Current Assets Debtors Cash at bank and in hand Creditors: amounts falling due within one year 5 Net Current Assets Net Assets Unrestricted funds General funds 7 Restricted funds 7	£ 4,432 31,719 36,151 2,466	2024 £ 109 33,685 33,794 18,370 15,424 33,794	£ 5,825 29,500 35,325 3,086	2023 £ 163 32,239
				32,402
				14,229 18,173
				32,402

For the financial year ended 30 April 2024, the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476. The Trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

Theses accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies’ regime.

These financial statements were approved by the Trustees on 24 January 2025 and were signed on their behalf by:

J P Sheehan Chair and Treasurer

The Bedfordshire Music Trust (Company Number: 04195243) Notes on the Accounts For the year ended 30 April 2024

1. Accounting policies

The principal accounting policies are summarised below. The accounting policies have been applied consistently throughout the year and in the preceding year.

(a) Basis of accounting

The financial statements have been prepared under the historical cost convention and in accordance with the Companies Act 2006 and the Charities SORP (FRS102).

(b) Fund accounting

Unrestricted funds are available for use at the discretion of the Trustees in furtherance of the general objectives of the charity.
Restricted funds are subjected to restrictions on their expenditure imposed by the donor or through the terms of an appeal.

(c) Incoming resources

All incoming resources are included in the Statement of Financial Activities when the charity is entitled to the income and the amount can be quantified with reasonable accuracy, except as follows:

When donors specify that donations given to the charity must be used in future accounting periods, the income is deferred until those periods.
When donors impose conditions which have to be fulfilled before the charity becomes entitled to use such income, the income is deferred and not included in the incoming resources until the pre-conditions for use have been met.

(d) Resources expended

Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered and is reported as part of the expenditure to which it relates:

Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries.
Governance costs include those costs associated with meeting the constitutional and statutory requirements of the charity and include costs linked to the strategic management of the charity.
All costs are allocated between the expenditure categories of the Statement of Financial Activities on a basis designed to reflect the use of the resource.

(e) Tangible fixed assets

During the year the trust incurred expenditure on equipment, its website and on musical instruments used for the purpose of the trust’s activities. Depreciation is charged to write down the cost of the assets over their expected useful lives, except in the year of acquisition. The rate used is 20% per annum.

2. Total Resources Expended

Costs directly allocated to activities Music Courses Support for youth music projects Total resources expended	Charitable Activities £ 36,388 - 36,388	Governance £ - - -	2024 Total £ 36,388 - 36,388	2023 Total £ 43,338 -
				43,338

The Bedfordshire Music Trust (Company Number: 04195243) Notes on the Accounts For the year ended 30 April 2024

3. Trustee Remuneration

The Trustees did not receive any remuneration for their services as Trustees during the year. There has been no reimbursement of expenses incurred nor has the charity paid any indemnity insurance in the year.

4. Taxation

As a charity, The Bedfordshire Music Trust is exempt from tax on income and gains falling within Part 11 of the Corporation Tax Act 2010 or s256 of the Taxation of Chargeable Gains Act 1992, to the extent that these are applied to its charitable objects. No tax charges have arisen in the Trust.

5. Fixed Assets

Cost As at 1 May 2023 Additions/Disposals As at 30 April 2024 Depreciation As at 1 May 2023 Charge for year As at 30 April 2024 Net Book Value At 30 April 2023 At 30 April 2024 Debtors Music course fees Prepayments Gift Aid claim Total 7. Creditors: amounts falling due within one year Accruals Expenses related to holiday music courses Income received in advance Total		Equipment Website Musical Instruments £ £ £ 522 750 496 - - -	Equipment Website Musical Instruments £ £ £ 522 750 496 - - -
		522	750 496
		359 54	750 496 - -
		413	750 496
		£163	£- £-
		£109	£- £-
		2024 £ 2,377 451 1,604 4,432 2024 £ 1,491 975 2,466	2023 £ 4,291 394 1,140 5,825 2023 £ 46 3,040 3,086

6. Debtors

The Bedfordshire Music Trust (Company Number: 04195243) Notes on the Accounts For the year ended 30 April 2024

8. Analysis of Net Assets Between Funds

Fixed assets Current assets Current liabilities	General Funds £ 13 19,848 (1,491) 18,370	Restricted Funds £ 96 16,303 (975) 15,424	Total Funds £ 109 36,151 (2,466)
			33,794

9. Movement in Funds

Restricted funds: Michael Templeman Memorial Fund Beds Youth Opera Total restricted funds Unrestricted funds: General funds Total unrestricted funds Total funds	At 1 May 2023 £ 9,525 8,648 18,173 14,229 14,229 32,402	Incoming Resources £ - 22,156 22,156 15,624 15,624 37,780	Outgoing Resources £ - (24,905) (24,905) (11,483) (11,483) (36,388)	Transfers £ - - - - - -	At 30 April 2024 £ 9,525 5,899
					15,424
					18,370
					18,370
					33,794

The Bedfordshire Music Trust (Company Number: 04195243) Independent Examiner’s Report For the year ended 30 April 2024

Respective responsibilities of trustees and examiner

The charity's trustees are responsible for the preparation of the accounts. The charity’s trustees consider that an audit is not required for this year under section 144 of the Charities Act 2011 (the Charities Act) and that an independent examination is needed.

It is my responsibility to:

examine the accounts under section 145 of the Charities Act;
to follow the procedures laid down in the general Directions given by the Charity Commission (under section 145(5)(b) of the Charities Act; and
to state whether particular matters have come to my attention.

Basis of independent examiner’s statement

My examination was carried out in accordance with general directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from the trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts present a ‘true and fair’ view and the report is limited to those matters set out in the statement below.

Independent examiner's statement

In connection with my examination, no matter has come to my attention:

which gives me reasonable cause to believe that in, any material respect, the requirements:
to keep accounting records in accordance with section 130 of the Charities Act; and
to prepare accounts which accord with the accounting records and comply with the accounting requirements of the Charities Act.

have not been met; or

to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.

MD Langley

42 Lucas Gardens Luton Beds LU3 4BG

24 January 2025