2022-09-30-accounts

			Page
Legal and administrative		information
Report ofthe	Chief Executive Officer
Report ofthe	Trustees		3-7
Independent	Auditor's	Report	8-10
Consolidated	Statement	of Financial Activities
Consolidated	and Trust	Balance Sheet	12
Consolidated	Cash Flow Statement		13
Notes to the	Financial Statements		14-27

Charity name:	Charity name:		Pro Corda Trust
Registered	Charity number:		1116213
Registered	Company	number:	05829570
Registered	Office:		Leiston Abbey
			Theberton
			Leiston
			Suffolk
			IP164TD
Telephone:			01728831354
Email:			mail rocorda. com
Website:			www. rocorda. com
Co-Founders:			Miss P Spofforth,	MBE (deceased)
			Miss BG Hewlins,	MBE (deceased)
Trustees:			John Ette (Chair -	resigned		9July 2022)
			Graham Bowler (Chair —appointed 9July 2022)
			Ina Budh —Raja (Honorary			Secretary - resigned	7 July 2022)
			David Ballance (Honorary Secretary —appointed				20August 2022)
			Angela Au (resigned		7 July 2022)
			Keith Daley (appointed 25			May 2022)
			Jane Fenoulhet
			James Shirras
			Priscilla Turner (appointed			25 May 2022)
Chief Executive Officer:			Andrew Quartermain
Auditors:			Ensors Accountants		LLP
			Connexions
			159Princes Street
			Ipswich
			IP1 1QJ
Bankers:			Royal Bank ofScotland
			Drummond House	(AB) Branch
			Drummond House
			1 Redheughs Avenue
			Edinburgh
			EH12 9JN
Solicitors:			Marshalls
			102 High Street
			Godalming
			Surrey
			GU21 1NL

n the year, Pro Corda had 973	stu	dents (2021:457	) attending cou	rses, anal
			2022	2021
At Leiston Abbey, Suffolk:
Adult Piano (October)			7
Combined Autumn Courses				27
Pro Corda Viola (October)			1
Pro Corda Piano Plus (October)			9	8
Pro Corda Cello Plus Course	(October)		14	12
Young carers (Autumn)			3
Piano Sanctuary (November)			4	3
Combined Course (January)			26	16
Young Carers (January)			3
Piano Sanctuary (January)			4
Pro Corda Violin (February)			19
Piano Sanctuary (March)			5
Primary 1 (April)			27	24
Aide Valley Pro Corda Academy		Pilot (March-	50
July)
Young carers (April)			3
Piano Sanctuary (April)			5
Saxmundham Free School (April)			35
Sunnydown School (May)			19
Castle East School (May)			70
Garston School (May)			22
Junior 1 (May)			29	14
Piano Sanctuary (May)			5	4
YSE Preparatory (May)			4	8
Preparatory (May)			43	26
Adult Piano / Piano Sanctuary	(June)		5	6
Kingswode School (June)			22
Brentwood School (June)			60
StAlbans School (June)			25
St Nicholas School (June)			27
Sunnydown School (June)			12
Music Makers (June)			12
Piano Sanctuary (July)			6	8
Primary 2 (July)			41	24
Beech House (SEN)				4
Young Carers (July)			3

OR THE YEAR ENDED	30SEPTEMBE	R2022
Junior 2 (July / August)		38	40
Intermediate 2 (August)		28	32
Senior 2 (August)		33	41
Pro Corda Plus Violin (August)		36	33
Adult Piano / Piano Sanctuary	(September)	7	7
Activities Unlimited		77	51
At Sedburgh School, North Yorkshire:
Pro Corda North (August)		24	30
At Wells Cathedral School, Somerset:
Pro Corda West (August)		30
In London:
Y.S.E		80	33
Total		973	457

						Notes	Unrestricted Funds	Restricted Funds	Total Funds	Total Funds
							2022	2022	2022	2021
Income:
Donations and legacies							219,967	88,043	308,010	294,939
Income from charitable	activities:
Course fees							430,354	56,732	487,086	280,714
Income from other trading		activities:
Trading income							13,014		13,014	17,190
Lettings and related	income						3,250		3,250	6,500
Concert tickets and	other		income				11,376		11,376	5,470
Investment income
Total income							677,961	144,775	822,736	604,813
Expenditure:
Costs of raising funds:
Trading expenses							22,494		22,494	13,507
Fundraising costs							19,333		19,333	19,003
Expenditure on charitable		activities:
Bursaries and scholarships				granted				94,979	94,979	26,582
Music and pastoral	staff						193,220	10,389	203,609	145,836
Food, cooking and	cleaning						87,862		87,862	70,736
Administration costs							241,109		241,109	288,456
Establishment costs							89,580		89,580	57,705
Other course costs							33,715		33,715	22,018
Total expenditure							687,313	105,368	792,681	643,843
Net movement in funds		before			transfers		(9,352)	39,407	30,055	(39,030)
Transfer between funds						19
Net income and net movement					in funds		(9,352)	39,407	30,055	(39,030)
for the year
Total Funds brought forward			at	1	October		2,215,053	46,603	2,261,656	2,300,686
Total Funds carried forward September			at		30		2,205,761	86,010	2,291,711	2,261,656

						Group		Trust
						2022	2021	2022	2021
					Notes	f
Fixed assets
Tangible assets					11	2,440,382	2,446,013	2,437,588	2,442,726
Investments					12			100	100
						2,440,382	2,446,013	2,437,688	2,442,826
Current assets
Stocks						1,886	2,715	1,330	1,330
Debtors					13	35,772	62,066	35,769	61,695
Cash						9,908	7,106	2,927	6,186
						47,566	71,887	40,026	69,211
Creditors: Due		within one year			14	(196,237)	(256,244)	(191,542)	(265,400)
Net current (liabilities) I				assets		(148,671)	(184,357)	(151,516)	(196,189)
Total assets less			current	liabilities		2,291,711	2,261,656	2,286,172	2,246,637
Funds
General						74,702	35,295	74,702	35,295
Barn Fund						11,308	11,308	11,308	11,308
Restricted funds					19	86,010	46,603	86,010	46,603
General						1,213,711	1,213,583	1,213,711	1,213,583
Revaluation		reserve				870,512	870,512	870,512	870,512
Designated						115,939	115,939	115,939	115,939
Non-charitable			trading	funds		5,539	15,019
Unrestricted	funds				20	2,205,701	2,215,053	2,200,162	2,200,034
Total funds						2,291,711	2,261,656	2,286,172	2,246,637

OR THE YEAR ENDED 30	SEPTE	MBER2022
				2022	2021
			Notes
Cash generated from operating	activities		22	8,934	68,781
Cash flows from investing activities
Purchase oftangible fixed assets				(4,720)	(15,114)
Cash used in investing activities				(4,720)	(15,114)
Increase in cash and cash equivalents				4,214	53,667
Cash and cash equivalents at the	beginning	ofthe year		(23,289)	(76,956)
Total cash and cash equivalents	at the end ofthe year			(19,075)	(23,289)
Disclosed as:
Cash and Bank				9,908	7,106
Bank Overdrafts				(28,983)	(30,395)
Total cash and cash equivalents	at the end ofthe year			(19,075)	(23,289)

Course fees
The course fee	income comprised:
			2022	2021
				F
Gross fees			487,086	280,714
Less: bursaries,	scholarships,	grants and allowances	(94,979)	(26,582)
			392,107	254,132

	Subsidiary	Subsidiary		Trust	Trust
	2022		2021	2022	2021
Turnover and fee income Cost ofsales: subsidiary Gross profit: subsidiary	13,014 ~1,773 11,241	17,190 ~149 17,041		487,086	280,714
Administration: subsidiary	(20,721)	(13,358)
Other income				322,636	306,909
Operating profit/(loss)	(9,480)		3,683
Bank interest receivable
Gross incoming resources				809,722	587,623
Cost ofcharitable activities				(750,854)	(611,333)
Cost ofgenerating funds				(19,333)	(19,003)
Retained surplus I (deficitf	~9,480		3,683	39,535	~42,713
Details ofthe subsidiary's	balance sheet is given	in	note 12.
Investment income
				2022	2021f

Analysis ofe	xpenditure	on		charitable	activities
					Music Courses	Barn Costs	Depreciation and loss on disposal	Total
Bursaries and scholarships			granted		94,979			94,979
Music and pastoral staff					203,609			203,609
Food, cooking and cleaning					87,862			87,862
Governance	8 support costs				231,466		9,643	241,109
Establishment	costs				89,580			89,580
Other course	costs				33,715			33,715
					741,211		9,643	750,854
Analysis ofgovernance		and		support	costs
						General support	Governance Function	Total
Staff costs						104,946		104,946
Travel and subsistence						27,565		27,565
Office costs						29,342		29,342
Audit costs							7,140	7,140
Other legal and professional				costs		19,350		19,350
Advertising						9,408		9,408
Insurance						19,226		19,226
Depreciation	and loss on	disposal				9,643		9,643
Other costs						14,489		14,489
						233,969	7,140	241,109

					2022	2021f
Fees	payable to the group's	auditor	for:
	The audit ofthe consolidated financial statements		and subsidiary	company	7,140	8,845
	Accountancy services				14,681	12,547

Analysis	ofstaff c	osts and trustee remuneration	and expenses
			2022	2021
				F
Wages and	salaries		224,468	215,818
Employers	National	Insurance	20,314	15,926
Employers	pension	contributions	4,806	3,826
			249,588	235,570

11.Tangible fixed	assets
					Subsidiary
	Freehold	Musical	Furniture &		furniture &	Group
	buildings	instruments	equipment	Trust total	equipment	total
Cost or Valuation
1 October 2021	2,479,734	65,737	43,361	2,588,832	69,651	2,658,483
Additions	4,720			4 720		4 720
Disposals			(26484)	(26,484)		(26,484)
30 September 2022	2,484,454	65,737	16,877	2,567,068	69,651	2,636,719
Depreciation
1 October 2021	79,975	29,535	36,596	146,106	66,364	212,470
Charge for the year	7,689	109	1,352	9,150	493	9,643
On disposals			(25,776)	(25,776)		(25,776)
30 September 2022	87,664	29,644	12,172	129,480	66,857	196,337
Net book values
30 September 2022	2,396,790	36,093	4,705	2,437,588	2,794	2,440,382
30 September 2021	2,399,759	36,202	6,765	2,442,726	3,287	2,446,013

estments
		Group		Trust
		2022	2021f	2022	2021
Fixed asset	investments
Investment	in subsidiary			100	100

12.Investm	ents	(continued)
				2022	2021
The assets and liabilities ofthe subsidiary			were:
Tangible fixed	assets			2,794	3,287
Current assets				22,458	26,838
				25,252	30,125
Creditors: amounts		falling due within one	year	(19,713)	(15,106)
				5,539	15,019
Represented	by:
Share capital				100	100
Profit and loss account				5,439	14,919
				5,539	15,019

Details ofthe subsidiary's profit and l 13.Debtors	oss account are giv	en in note 4	.
	Group		Trust
	2022	2021	2022	2021
Trade debtors	34,874	60,875	34,874	60,507
Prepayments	895	1,188	895	1,188
Corporation Tax Recoverable	3	3
	35,772	62,066	35,769	61,695
14. Creditors: Due within one year
	Group		Trust
	2022	2021	2022	2021f
Bank overdrafts	28,983	30,395	28,983	30,395
Trade creditors	47,469	51,666	45,794	47,806
Advance course fees	74,340	75,477	74,340	75,477
Taxation and social security	4,409	6,148	4,409	6,148
Amounts owed to subsidiary			14,917	24,163
Other creditors and accruals	41,036	92,558	23,099	81,411
	196,237	256,244	191,542	265,400

			Balance at	Released to	Deposits	Balance at 30
			1 Oct 2021	income	received	Sept 2022
Advance	course	fees	75,477	75,477	74,340	74,340

		Group		Trust
		2022	2021	2022	2021
Due within one year		4,683	5,825	4,683	5,825
Due between	1 and 5years	11,950	14,724	11,950	14,724
Due after 5years			1,296		1,296
Total		16,633	21,845	16,633	21,845

1	7. Financial instrument
				Group		Trust
				2022	2021	2022	2021
Car	in amount offinancial		assets
Debt	instruments measured amortised cost		at	34,874	60,875	34,874	60,507
Equity instruments measured cost less impairment			at			100	100
Carr	in amount offinancial	liabilities
Measured at amortised cost				88,505	144,224	83,810	153,380

				Fixed	Net current	Fund
				assets	assets I	balances
					(liabilities)
Restricted	funds:
General					74,702	74,702
Barn LEADER		Project			11,308	11,308
					86,010	86,010
Unrestricted	funds:
General fund				1,567,076	(353,365)	1,213,711
Revaluation	fund			870,512		870,512
Designated	fund (Abbey House Fund)				115,939	115,939
Non-charitable		trading	funds	2,794	2,745	5,539
Group				2,440,382	(148,671)	2,291,711
Analysis		ofgroup funds at 30September 2021
				Fixed	Net current	Fund
				assets	assets I	balances
					(liabilities)
Restricted	funds:
General					35,295	35,295
Barn LEADER		Project			11,308	11,308
					46,603	46,603
Unrestricted	funds:
General fund				1,572,214	(358,631)	1,213,583
Revaluation	fund			870,512		870,512
Designated	fund (Abbey House Fund)				115,939	115,939
Non-charitable		trading	funds	3,287	11,732	15,019
Group				2,446,013	(184,357)	2,261,656

19.Restricted	funds: moveme	nt in the year
	Balance at	Income	Expended	Transfers	Balance at 30
	1 Oct 2021				Sept 2022
Bursary	15,300	134,775	94,979		55,096
Piano	2,349				2,349
Chamber	12,991	10,000	10,389		12,602
Competition
Barn LEADER	11,308				11,308
Project
NYMO	4,655				4,655
	46,603	144,775	105,368		86,010
	Balance at	Income	Expended	Transfers	Balance at 30
	1 Oct 2020				Sept 2021
Bursary	9,869	32,013	26,582		15,300
Piano	2,349				2,349
Chamber	11,725	10,000	8,734		12,991
Competition
Barn LEADER	11,308				11,308
Project
NYMO	4,655				4,655
	39,906	42,013	35,316		46,603

			Balance at 1				Balance at 30
			Oct 2021	Income	Expended	Transfer	Sept 2022
			f.		F		F
General reserve			1,213,583	664,947	664,819		1,213,711
Revaluation	reserve		870,512				870,512
Designated	fund
(Abbey House		Fund)	115,939				115,939
Trust			2,200,034	664,947	664,819		2,200,162
Non-charitable		trading
funds			15,019	13,014	22,494		5,539
			2,215,053	677,961	687,313		2,205,701
			Balance at 1
			Oct 2020				Balance at 30
				Income	Expended	Transfer	Sept 2021
General reserve			1,263,400	545,203	595,020		1,213,583
Revaluation	reserve		870,512				870,512
Designated	fund
(Abbey	House
Fund)			115,532	407			115,939
Trust			2,249,444	545,610	595,020		2,200,034
Non-charitable		trading
funds			11,336	17,190	13,507		15,019
			2,260,780	562,800	608,527		2,215,053

	Bursaries	Music and	Administra-	Establish-	Fundraising	Total
	granted	pastoral	tion	ment	costs
		staff
Bursary	94,979					94,979
Chamber
competition		10,389				10,389
Group and Trust	94,979	10,389				105,368

					2022		2021
Net income					30,055		(39,030)
Disposal	of	Fixed assets		709
Depreciation		charges	added back	9,643		10,060
Decrease	in	stocks		829		(678)
Decrease	in	debtors		26,294		43,473
Decrease	in	creditors		58,596		54,956
					(21,121)		107,811
Net cash activities	generated		by operating		8,934		68,781

					Unrestricted	Restricted	Total
					Funds	Funds	Funds
					2021	2021	2021
					f	f	F
Income:
Donations and legacies					252,926	42 013	294,939
Income from charitable	activities:
Course fees					280,714		280,714
Income from other trading		activities:
Trading income					17,190		17,190
Lettings and related	income				6,500		6,500
Concert tickets and	other income				5,470		5,470
Investment income
Total income					562,800	42,013	604,813
Expenditure:
Costs of raising funds:
Trading expenses					13,507		13,507
Fundraising costs					19,003		19,003
Expenditure on charitable		activities:
Bursaries and scholarships			granted			26,582	26,582
Music and pastoral staff					137,102	8,734	145,836
Food, cooking and cleaning					70,736		70,736
Administration costs					288,456		288,456
Establishment costs					57,705		57,705
Other course costs					22,018		22,018
Total expenditure					608,527	35,316	643,843
Net movement in funds		before		transfers	(45,727)	6,697	(39,030)
Transfer between funds
Net income and net movement year				in funds for the	(45,727)	6,697	(39,030)
Total Funds brought forward at 1				October	2,260,780	39,906	2,300,686
Total Funds carried forward			at	30September	2,215,053	46,603	2,261,656