## The UK Association for Music Education – Music Mark 

## UNAUDITED 

ANNUAL REPORT AND FINANCIAL STATEMENTS 

for the year ended 

31 March 2022 

Company Registration No 6134823 Charity Registration No 1118542 



## The UK Association for Music Education – Music Mark 

## REFERENCE AND ADMINISTRATIVE INFORMATION 


**----- Start of picture text -----**<br>
The UK Association for Music Education – Music<br>Company Name Mark<br>Registered Company Number 6134823<br>Registered Charity Number 1118542<br>Registered Office  Southgate Chambers<br>37-39 Southgate Street<br>Winchester<br>SO23 9EH<br>Board of Trustees  James Dickinson (Chair)<br>Yogesh Dattani<br>Martin Fautley<br>Jan Ford<br>David Little<br>Peter Smalley<br>Kerry Watson - Resigned April 2021<br>Peter Bolton  (Treasurer)<br>Jennifer Gilbert<br>Emma Calvert  - Elected November 2021<br>Thom Meredith - Elected November 2021<br>Patron  Charles Hazelwood<br>Company Secretary and Chief Executive Bridget Whyte<br>Independent Examiner James Cross<br>For and on behalf of<br>Moore Kingston Smith LLP<br>9 Appold Street<br>London<br>EC2A 2AP<br>Bankers CAF Bank Limited<br>25 Kings Hill Avenue, Kings Hill,<br>West Malling,<br>Kent  ME19 4JQ<br>Solicitors Bates Wells & Braithwaite LLP<br>2-6 Cannon Street,<br>London  EC4M 6YH<br>**----- End of picture text -----**<br>


_Page 2_ 



## The UK Association for Music Education – Music Mark 

TRUSTEES’ REPORT 

For the year ended 31 March 2022 

## **TRUSTEES’ ANNUAL REPORT** 

The Trustees (who are also directors for the purposes of company law) present their report and the financial statements of the UK Association for Music Education – Music Mark (the “Charity” or “Music Mark”) for the year ended 31 March 2022. The Trustees have adopted the provisions of the Statement of Recommended Practice (SORP) “Accounting and Reporting by Charities”, to be compliant with Financial Reporting Standard (FRS) 102. 

Reference and administrative information set out on page 2 forms part of this report. The financial statements have been prepared in accordance with the accounting policies set out on pages 14 and 15 and comply with the applicable law, the Memorandum and Articles of Association and the requirements of the Charities SORP (FRS 102). 

## **OBJECTIVES AND ACTIVITIES** 

## **Charitable Objects** 

As stated in its Memorandum of Articles and Association, Music Mark’s charitable objects are to advance the education of the public in the art of music. 

Music Mark is a membership organisation for local authority and independent Music Services, for other music education organisations, their teaching and support teams, their partners and their schools. We advocate on behalf of those members meaning that we ‘speak and act in support of music as a subject, and we promote best practice’. We strive to ensure that all stakeholders understand the value and life-changing potential of music for all children and young people. 

Music Mark is also a subject association. Subject associations speak for their subject communities; they are able to undertake research into their members’ concerns and to reflect these back to policy makers. A subject association is never only one lone voice but instead is the collective voice of their subject community; working to ensure the highest quality of teaching. 

## **Principal Activities** 

Music Mark’s vision is: 

**Accessible and excellent musical learning and engagement in and out of school, for all children and young people, which inspires and enriches their lives** 

It meets its charitable objects in pursuit of its vision through its mission: 

**Supporting, connecting and influencing in pursuit of a high quality, equitable, diverse, inclusive music education for all children and young people** 

_Page 3_ 



## The UK Association for Music Education – Music Mark 

## TRUSTEES’ REPORT 

For the year ended 31 March 2022 

Our strategy for delivering our mission over the coming years to achieve our vision has been divided into 9 key areas: 

|**Membership**|Providing opportunities for professional debate, sharing good practice, innovation and CPD<br>through communication and accessible local, regional and national events|
|---|---|
|**Equity Diversity and**|Embedding EDI as a ‘Golden-Thread’ in all our work, and supporting the membership to do|
|**Inclusion (EDI)**|likewise|
|**UK**|A strong and diverse network across the UK through membership and partnership with<br>individuals and organisations, supporting quality of both provision and outcomes|
|**Schools**|A stronger relationship with schools through membership and as a Music Subject Association|
|**Professional**|An inclusive, needs driven, programme of training, resources and events for all those involved in|
|**Development**|children and young people’s music education in the UK|
|**Influencing &**|The voice for Music Education at a national level. Advising and influencing governments and|
|**Informing Policy**|NGOs across the UK. Representing the diversity of the sector on the international stage|
|**Governance &**|Clarity of accountability management, purpose and reporting of the work of Music Mark,|
|**Management**|including as a limited company and charity ensuring EDI is at the heart of its governance|
|**Financial Resilience**|Diversified income streams including capitalising on Music Mark’s charitable status to maintain<br>the organisation’s role supporting the UK Music Education sector|
|**Music Education in**|Support the ambition of the National Plans for Music Education in England and Wales by|
|**England & Wales**|working in close partnership with the DfE, ACE, Welsh Government and WLGA|



## **Public Benefit** 

The Trustees have referred to the guidance offered by the Charity Commission in reviewing aims and objectives and in planning activities. In particular, the Trustees consider how planned activities will contribute to the aims and objectives and they ensure that these activities are carried out for the public benefit by delivering services that are valued by members and enable those with responsibility in the sector to develop and adopt best practice. 

## **ACHIEVEMENTS AND PERFORMANCE** 

The ongoing COVID-19 Pandemic has continued to demonstrate the value of Music Mark to its membership with ongoing high engagement through events and training, most of which is now established as online provision. 

The 2021 Annual Conference however was run as a ‘hybrid’ event with both face-to-face attendance and the ability to join online for some sessions which were broadcast live and recorded for future viewing. Whilst the costs to provide both online and in person access was high, attendance also increased. More importantly it was a successful conference based on the feedback from both delegates and the industry partners who exhibited and sponsored the event. The learning from this conference will help inform ongoing conferences and our wider provision of events for our membership and the sector. 

Music Mark continues to work closely with Arts Council England (ACE) to support the Music Education Hubs across England and in 2021/22 a programme of training, events and other support was implemented following the confirmation of the significant increase in grant funding in March 2021. This funding enabled Music Mark to increase staffing and to engage a number of consultants to support not only leaders within Music Education Hubs but also their staff and teaching teams. Support included a new campaign launched in the summer for 2021 – Get Playing – which aimed to help raise the profile of musical learning to parents through a set of 10 statements about the benefits of music. 

Music Mark’s role as an influencer of policy and practice continued in 2021/22 with the appointment of the CEO, Bridget Whyte, to an ‘Expert Panel’ supporting the Department for Education in the development of a new National Plan for Music Education for England which was published on 25th June 2022. 

Engagement with Music Education Organisations in Wales had been increasing slowly but in the spring of 2021, assisted by increased funding from the Welsh Government for music education, Music Mark welcomed all but one of the Music Services in Wales into the membership. The CEO, Bridget Whyte, also worked closely with the Welsh Government on the development of a National Plan for Music Education for Wales which was published in May 2022. 

_Page 4_ 



## The UK Association for Music Education – Music Mark 

TRUSTEES’ REPORT For the year ended 31 March 2022 

In April 2021 Rachel Shirley, who had previously been engaged on a temporary freelance basis, was given a one-year fixed term part-time contract based on the increased activity being developed through the ACE funding. Fi Simpson, the Comms and Marketing Manager returned from maternity leave in late June and in October 2021 the Membership and Events Manager, Rosie Lowe, went on maternity leave. Rachel agreed to act up to cover some of her role with a new member of the team joining – Matthew Crisp – as a part-time fixed term Admin Assistant. Gary Griffiths continued to work with Music Mark as a consultant providing invaluable COVID-19 support to the Membership, and targeted support was also provided by other consultants including Sam Stimpson and Carmel Cardona. 

At the 2021 Annual Conference Music Mark launched ‘Talk into Action’ a campaign aimed at encouraging the music education sector to move from talking about Equity, Diversity and Inclusion to taking action. It focusses on four areas of development – Governance, Workforce, Participants and Programmes/Resources. Music Mark itself is looking at how to act to increase ED&I across these four areas and is providing training and resources to support others to also do so. 

In the Autumn of 2021 Arts Council England released information about their three-year funding programme – Investment Principles Support Organisations – a fund which will provide organistions who support sectors of the Arts with core funding over a three-year period. Music Mark began work on preparing a bid to this fund ready for submission in May 2022. The outcome of applications will be published in October 2022 and grants will commence in April 2023 running to March 2026. 

## **Going concern** 

The financial statements have been prepared under the going concern basis. The trustees have reviewed the financial outlook for the next 12 months. The charity has healthy reserves and stable membership income and thus the trustees consider that the charity is a going concern 

## **FINANCIAL REVIEW** 

Music Mark recorded a deficit of income over expenditure for the year totalling £170,598 compared to a surplus of £342,879 for 2020/21. This is because grants accounted for in the previous year have been released for use as planned for projects in the year reported here. Therefore in summary, the expenditure this year is in excess of the income as the income was shown prior to the start of this year. 

Unrestricted income increased this year by £64,836 to £325,575 compared to last year. This increase was due to significantly higher memberships and advertising income. 

Expenditure of £190,752 against restricted funds represents ACE grant money used to towards a Workforce Development Programme, an Innovating Hubs for the Future Programme and an Innovation Fund which is providing funding for Music Education Hub partnership projects. 

Expenditure from unrestricted funding increased by £84,207 to £305,421. This increase was primarily due to the rise in membership support, training and education events running with an increase in the hire of consultancy for support, running events and training. In addition, the annual conference took place as a hybrid virtual and live event which meant that venue hire and associated costs were increased. 

Unrestricted reserves increased from £181,010 to £201,164. Restricted funds carried forward of £122,215 represent unspent ACE funds remaining from the North West members’ conferences 2017-2019 of £9,330, South Yorkshire Conference £250, with the remainder being ACE grants for future planned support projects. 

Cash balances increased by £10,012 to £316,407, significantly helped by a number of Music Services applying for memberships in advance of the new year. In addition to good credit control processes. 

_Page 5_ 



## The UK Association for Music Education – Music Mark 

## TRUSTEES’ REPORT 

For the year ended 31 March 2022 

## **Reserves Policy** 

Through careful management of income and expenditure, Music Mark has built up reserves over the past years for general contingency requirements. 

The Trustees have reviewed the level of free reserves (those not tied up in fixed assets, designated for a specific purpose or restricted) and consider that a level free reserves equivalent to six months’ management and administration costs to be sufficient to ensure that the Charity could continue to meet the needs of beneficiaries and stakeholders in the event of unexpected, substantial adverse financial circumstances. 

Unrestricted reserves standing at £201,164 represent a little more than 10 months of 2022/23 budgeted management and administration expenditure, excluding costs of delivering conferences, training and other events. This level is therefore in line with the policy. 

## **Investment Policy** 

The aim of the Investment Policy is to protect the capital value of funds held and, ideally, allow them to be inflation proofed over the long-term. Given the value of funds held and the need to meet short and medium-term requirements, in an environment of low risk-free investment returns, funds are held in an interest-bearing bank deposit account. All income from investments is used for furthering the charitable objectives. 

## **STRUCTURE, GOVERNANCE AND MANAGEMENT** 

## **Constitution of the Charity and the nature of the Governing Document** 

The Charity is a company limited by guarantee (registered number 6134823) and is governed by its Memorandum and Articles of Association (Adopted 18 May 2007, revised 7 February 2013 and 4 November 2021). The revisions made in 2021 were carried out in consultation with Music Mark’s Lawyers – Bates Wells – and presented to the Membership at the AGM for adoption. The review was carried out to ensure that the documents reflected the current work of Music Mark, updates in working practices, particularly arising from the COVID pandemic, and to ensure that they reflrect current company and charity law. The Membership were provided with information of the key changes made and a special resolution was voted on at the AGM. 

The Charity is registered with the Charity Commission (registered number 1118542) and does not have share capital, cannot pay dividends and must utilize all its funds to further its stated charitable objectives. 

## **Recruitment and Appointment of Trustees** 

The appointment of the Board of Trustees is governed by the Charity’s constitution. Elected trustees are drawn by nomination from the Membership, with a voting process for eligible Members where there are more candidates than available posts. Elected trustees generally serve for a term of three years ending on the third AGM following election. The Board also has the option to co-opt a further six trustees by skill set to complement the elected board. Co-opted trustees serve for terms of one year which can be renewed at the discretion of the board. 

_Page 6_ 



## The UK Association for Music Education – Music Mark TRUSTEES’ REPORT For the year ended 31 March 2022 

Those who served during the year were: 


**----- Start of picture text -----**<br>
|||||
|---|---|---|---|
|James Dickinson|(Chair)|Co-opted member|
|Peter Bolton|(Treasurer)|Elected Member, Treasuer from Novmeber 2021|
|Yogesh Dattani|Elected member (remaining on the Board for a 5|[th]|year as only two|
|Trustees were required to step down and to ensure Board stability|
|during the COVID-19 pandemic)|
|Martin Fautley|Co-opted member|
|Jan Ford|Elected Member appointed November 2021|
|Jennifer Gilbert|Elected Member|
|Maureen Hanke|Elected Member – stood down following three years of service at the|
|AGM November 2021|
|David Little|(Treasurer)|Co-opted member, Treasuer until Novmeber 2021|
|Peter Smalley|Elected member – stood for re-election following three years of service|
|and reappointed at the AGM in November 2021|
|Kerry Watson|Stood down in April 2021|
|Emma Calvert|Elected November 2021|
|Thom Meredith|Elected November 2021|

**----- End of picture text -----**<br>


## **Induction and Training of New Trustees** 

All new Trustees attend an induction Trustee Board Meeting where their roles are fully explained. They receive regular information about the work of the charity, where appropriate, signposted to relevant trustee training and, in the view of the Trustees, have enough knowledge of their specific field to understand the nature of the Charity and fully comply with the Charity’s current views of its progression. Trustees may claim for reasonable expenses (as determined by an agreed policy) incurred in undertaking the Charity’s business, but they receive no remuneration or other financial benefit. 

## **Organisational Structure and Management** 

According to the Charity’s constitution, the Board of Trustees must hold at least three meetings per year to take decisions about the strategic direction and running of the Charity, as guided by the Chief Executive. 

Strategic and operational delivery is undertaken by the Chief Executive. Additional, specialist support is brought in by way of a number of freelance contractors and suppliers (including conference management,  IT and finance). 

## **Equality of Opportunity** 

Music Mark is committed to a policy of equal opportunities for all employees and to ensuring within the framework of the law that its workplaces are free from unlawful or unfair discrimination. The principles of equality are embedded within the Music Mark ethos and are consistently adhered to in all activity including recruitment (Board and staff), planning and delivering events and services, marketing and communications and within programme development. 

_Page 7_ 



## The UK Association for Music Education – Music Mark 

## TRUSTEES’ REPORT 

For the year ended 31 March 2022 

## **Risk management** 

The Trustees and the Chief Executive pay due care and attention to risk management and it is a standing agenda item at all Board meeting. The Chief Executive, on behalf of the Trustees, maintains an ongoing Risk Register covering all areas of financial, regulatory, business, and operational risk. 

The Chief Executive is tasked to alert Trustees to new or increased risks identified in any category so that mitigating actions can be agreed and implemented as appropriate. Risk assessment of all new activities is fully undertaken by way of Trustee discussions and, where necessary, expert advice is sought and followed. 

The principal risks faced by the Charity, and the actions to mitigate these risks, are considered to be: 


**----- Start of picture text -----**<br>
Risk Mitigation<br>Continued review and development of Membership benefits alongside<br>Degree of dependence on Music Service and<br>messaging that membership is available to all those music education<br>lead organisation of Music Education Hub<br>working in the sector across the UK and the diversifying of income<br>(MEH) membership income.<br>streams to include grants, partnerships and sponsorship.<br>Understanding by the staff team as to what constitutes success for a<br>membership organisation. Clarity of commitment to purpose, analysis of<br>Membership dissatisfaction with support<br>feedback and to action. Regular regional and peer-group consultation<br>services provided.<br>and networking events for Members to ensure understanding of the<br>value of membership. An annual membership survey.<br>Review of remuneration packages, roles and responsibilities and staff<br>Loss of key staff.<br>development opportunities.<br>An annual skills audit is carried out and reviewed by the Trustees with<br>Elected trustee body lacking in all relevant<br>co-option of Trustees with desired knowledge areas or skill-sets to<br>skills.<br>supplement those of elected Trustees<br>Regular ongoing consultation with the Membership, and work with<br>Ongoing COVID-19 Impact – income lost (ie  partners such as ACE, to ensure that services provided meet the needs of<br>membership fees and/or event cancellation) the music education sector as it manages the ongoing impact of the<br>pandemic.<br>**----- End of picture text -----**<br>


## **Related Parties** 

None of the current Trustees have any beneficial interest in any contract with the Charity. Ten of the Trustees who served during the year were employed during the year by Music Services or Music Education Organisations that paid annual Membership fees. One of the Trustees is an individual Member of Music Mark. 

In carrying out its objectives the Charity works in partnership with other organisations. None of these organisations is a related party within the terms of the SORP. 

_Page 8_ 



## The UK Association for Music Education – Music Mark 

## TRUSTEES’ REPORT 

For the year ended 31 March 2022 

## **Funds held on behalf of others** 

In the ordinary course of business, Music Mark holds and administers funds, from time to time, on behalf groups of Music Education Organisation Members. Funds are held within Music Mark’s bank accounts but are accounted for separately (see Note 17). Disbursement of these funds is made on written agreement from the fund holder(s). 

## **PLANS FOR THE FUTURE** 

In 2022/23 Music Mark will continue its role as the provider of support for the organistions and individuals who work in Music Education across England, Wales, Northern Ireland and the Crown Dependencies as well as strengthening its links and partnerships in Scotland. With the publication of a National Plan in both England and Wales in the Spring/Summer of 2022, both of which Music Mark was involved in preparing, its role supporting the implementation of these will be a key strategic aim. 

Music Mark will continue to provide a valued programme of online training, support and events for its membership and the wider sector, subsidized by funding from Arts Council England. The Annual Conference, which will focus on Equity Diversity and Inclusion in line with the charity’s Talk into Action campaign, will be a series of events across the country and online to increase access to the networking and training provided by this sector event. Music Mark will also continue to facilitate peer-group meetings to enable members to connect at a regional and national level. 

## **Objectives for 2022/23** 

During the next year the key objective for Music Mark will be to support its membership to navigate change. In England and Wales that change is primarily due to the publication of two National Plans for Music Education which will have an impact on all those working in Music Education in each country. In Northern Ireland Music Mark will provide advice and guidance where needed to support the ongoing development of a single music service. And learning from all this country-wide change the Charity will continue to support, connect and influence on behalf of its full membership. 

The Board of Trustees and Chief Executive have agreed upon the following specific activities for the forthcoming year in line with the organisation’s charitable objectives: 


**----- Start of picture text -----**<br>
|||
|---|---|
||To ensure there continues to be many ways in which Music Mark is listening to the voice of the|
|membership to ensure that its work to support, connect and influence on their behalf continues|
|to be its primary purpose.|
||To provide professional development opportunities for the Membership and wider sector,|
|including regular webinars, training programmes, peer-to-peer networking and topic-based|
|meetings|
||To run Member/sector events such as Big Meets and Webinars, a Spring Summit (March 2023)|
|and the Annual Conference Series (November 2022)|
||To deliver a relevant Music Hub Support programme through ongoing grants received from|
|ACE|
||Continue to develop and promote resources and provide training for classroom teachers as a|
|Music Subject Association, and champion the work of schools in providing music education|
|through the Music Mark Schools programme|
||To consider its own role in, and promote the importance of, turning Talk into Action in|
|connection with Equity, Diversity and Inclusion across all protected characteristics to ensure it is|
|a golden thread across governance, workforce, participants and programming.|
||Be a key voice in the development of the English ‘Refreshed’ National Plan for Music|
|Education as it is developed and published and champion the need for realistic funding for|
|Music Education Hubs|

**----- End of picture text -----**<br>


_Page 9_ 



The UK Association for Music Education - Music Mark
TRUSTF.ES' REPORT
For the
ear ended 31 Mar¢h 2022
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Page I

## REPORT OF THE INDEPENDENT EXAMINER TO THE MEMBERS OF THE UK ASSOCIATION FOR MUSIC EDUCATION – MUSIC MARK 

## **Independent examiner's report to the trustees of Music Mark** 

I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 March 2022. 

## **Responsibilities and basis of report** 

As the charity’s trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 (‘the 2006 Act’). 

Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity’s accounts as carried out under section 145 of the Charities Act 2011 (‘the 2011 Act’). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5) (b) of the 2011 Act. 

## **Independent Examiner's Statement** 

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe: 

- 1 accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or 

- 2 the accounts do not accord with those records; or 

- 3 the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a ‘true and fair view which is not a matter considered as part of an independent examination; or 

- 4 the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities. 

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. 

## James Cross 

(FCA, ICAEW) 

## **For and on behalf of Moore Kingston Smith LLP** 

Chartered Accountants 

9 Appold Street London EC2A 2AP 

Date: 12 October 2022 

_Page 11_ 



## The UK Association for Music Education – Music Mark 

## STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING AN INCOME AND EXPENDITURE ACCOUNT) 

For the year ended 31 March 2022 

|_Note_<br>**Income from:**<br>Donations and legacies<br>Charitable activities<br>Other trading activities<br>Investments|**Total**<br>Total<br>Unrestricted<br>Restricted<br>**Funds**<br>Unrestricted<br>Restricted<br>Funds<br>Funds<br>Funds<br>**2022**<br>Funds<br>Funds<br>2021<br>£<br>£<br>£<br>£<br>£<br>£<br>2 -<br>-<br>-<br>15,376<br>380,353<br>395,729<br>3 270,712<br>-<br>270,712<br>217,880<br>-<br>217,880<br>4 54,810<br>-<br>54,810<br>27,359<br>-<br>27,359<br>5 53<br>-<br>53<br>124<br>-<br>124|
|---|---|
|**Total income**|325,575                  -      325,575         260,739       380,353     641,092|
|**Expenditure on:**<br>Raising funds<br>Charitable activities<br>Other|6 7,489<br>7,489             7,959<br>-         7,959<br>7 283,297       190,752      474,049         205,687         77,000     282,687<br>8 14,635<br>14,635             7,567<br>-         7,567|
|**Total expenditure**|305,421       190,752      496,173         221,213         77,000     298,213|
|**Net income/(expenditure)**|20,154 -    190,752 -   170,598           39,526       303,353     342,879|
|**Net movement in funds**|20,154 -    190,752 -   170,598           39,526       303,353     342,879|
|**Reconciliation of funds:**||
|Total funds brought<br>forward<br>Total funds carried<br>forward|181,010       312,967      493,977         141,484           9,614     151,098<br>201,164       122,215      323,379         181,010       312,967     493,977|



All activities derive from continuing operations. 

A Statement of Recognised Gains and Losses is not required as all gains and losses are included in the Statement of Financial Activities. 

The notes on pages 14 to 23 form part of these financial statements 

_Page 12_ 



The UK Association for Music Education- Music Mark
BALANCE SHEET as ai 31 March 2022
Total fund5
Total funds
31-Nlxr-22
31-Mar-21
N￿e
Current 1s8eis:
Debtors
15
196,336
349,446
Cash at bAnk aTwJ in hand
Jo
316.407
306,395
Total current asseL8
512,743
655,841
Creditors.. amoun¢s fallinB due wthin one year
17
(189.364)
{161.864)
Nei current assets
323,379
491.977
ToiAI nel a8seis
323.379
49.1.977
The funds of ihe thArlty:
Unresiricied funds
19
201.164
122,21S
Reslriclcd incom¢ funds
312,Y67
TotAI charltv funds
323.379
491,977
Foi. the year ended 3 1 March 2022 th¢ charity was eniitied ￿ exemp¢ion from audii utmler Seciion 477 ofthe
Companies A¢i 21M)6 r¥laiing to small Companies.
The members have noi required ihe comp#tty to Ob￿1n an audii of its a¢counts for the year in question in a￿OrdanCe
with section 476 of the Companies Aa 2(Xl6.
The directors acknowled8e their resporLsibility for ¢ornplyin8 Wlth the requirements of the Act with respect accoun¢ing
rccords and f(Trr the pr¢p8raiion of th¢ ￿￿OUnts.
The finAncial staiements have been prepared in aceordance with the provisions appliubl¢ to companies subject to (he
small conipanics. rc81rne.
The financial staiemertts were approved by the Tru5tee5 and auth0ri5ed for i&wc on 16th Scp(emb¢r 2022 and wcr¢
siglled on their behalfby..
JattLeS DickiThson
P¢i¢r Bolton
Trus*e and Honorary Treasurer
Chair
Registered Company Nutnber 6134823
Puge 13

## The UK Association for Music Education – Music Mark 

## NOTES TO THE FINANCIAL STATEMENTS 

For the year ended 31 March 2022 

## 1 ACCOUNTING POLICIES 

## 1.1 ACCOUNTING CONVENTIONS 

The financial statements have been prepared under the historical cost convention and in accordance with the Companies Act 2006 and, as a public benefit entity, also with the requirements of the Statement of Recommended Practice Accounting and Reporting by Charities under Financial Reporting Standard (FRS) 102. 

The financial statements are prepared in sterling, which is the functional currency of the Charity. 

Monetary amounts in these financial statements are rounded to the nearest pound. 

## 1.2 GOING CONCERN 

The financial statements have been prepared on a going concern basis. 

Having carried out regular review of services and provision together with appropriate risk analysis in light of the current pandemic relating to COVID-19 and adapted services and provision accordingly, including taking much of its provision online, the indication is that the charity will remain solvent.  Trustees remain satisfied that the charity has sufficient cash flow to meet its liabilities as they fall due for at least one year from the date of approval of the financial statements. 

## 1.3 ACCOUNTING ESTIMATES 

In the view of the Trustees in applying the accounting policies adopted, no judgements were required that have a significant effect on the amounts recognised in the financial statements, nor do any estimates or assumptions made carry a significant risk of material adjustment in the next financial year. 

## 1.4 TANGIBLE FIXED ASSETS AND DEPRECIATION 

Assets with a cost in excess of £500 that are intended to be of on-going use to Music Mark in carrying out its activities are capitalised as fixed assets. 

Depreciation is provided at rates calculated to write off the cost of fixed assets, less their residual value, over their expected useful lives on the following basis: 

Office Equipment - 3 years on a straight-line basis 

## 1.5 INCOME 

All incoming resources are included on the Statement of Financial Activities when the Charity is legally entitled to the income and the amount can be quantified with reasonable accuracy. 

Some Music Service and corporate members’ membership fees relate to the twelve months following joining Music Mark. These fees are credited to income pro rata in accordance with the financial year. 

Income received in advance of the period or the event to which it relates is shown as deferred income at the balance sheet date. 

## 1.6 EXPENDITURE 

All expenditure is accounted for on an accruals basis as the liability is incurred and has been classified under headings that aggregate all costs related to each activity. 

## 1.7 VALUE ADDED TAX 

The Charity is registered for Value Added Tax and charges and remits and recovers tax as appropriate on its income and expenditure. 

## 1.8 TAXATION 

The Charity is exempt from tax on income and gains falling within sections 472-489 of the Corporation Tax Act 2010 or section 252 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects. 

_Page 14_ 



The UK Association for Music Education – Music Mark NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 March 2022 

## 1.9 FUND ACCOUNTING 

Unrestricted funds can be used in accordance with the charitable objectives at the Trustees’ discretion. 

Restricted funds can only be used for prescribed purposes, within the objects of the Charity, when specified by the donor or when funds are raised for particular identified purposes. Further explanation of the nature of each fund is included in the notes to the financial statements. 

## 1.10 STAFF AND SUPPORT COSTS 

Staff costs are attributed to activities based on estimates of time spent by each member of staff on each activity. The costs of support activities, being General management and Governance as detailed in Notes 9a and 9b, are allocated to the expenditure headings that appear on the Statement of Financial Activities in proportion to the directly attributed staff costs, subject to any specific allowances specified in the terms of the use of restricted funds. 

## 1.11 FINANCIAL INSTRUMENTS 

The Charity has elected to apply the provisions of Section 11’Basic Financial instruments’ of FRS102 to all of its financial instruments. Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument. 

Basic financial assets, which include trade and other receivables and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. 

Basic financial liabilities, including trade and other payables that are classified as debt, are initially recognised at the transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. 

Trade payables are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities then, in which case, trade payables are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest rate method. 

## 1.12 CASH AND CASH EQUIVALENTS 

Cash and cash equivalents include cash at banks and in hand and short-term deposits with a maturity date of three months or less. 

## 2 INCOME - DONATIONS AND LEGACIES 

|Arts Council England (ACE)<br>Other<br>**Total donations and legacies**|**Total**<br>Total<br>Unrestricted<br>Restricted<br>**Funds**<br>Unrestricted<br>Restricted<br>Funds<br>Funds<br>Funds<br>**2022**<br>Funds<br>Funds<br>2021<br>£<br>£<br>£<br>£<br>£<br>£<br>-                   -                   -           15,274        380,353      395,627<br>-<br>-                   -                102<br>-             102<br>-                   -                   -           15,376        380,353      395,729|
|---|---|



_Page 15_ 



## The UK Association for Music Education – Music Mark 

## NOTES TO THE FINANCIAL STATEMENTS 

For the year ended 31 March 2022 

|3<br>**Total**<br>Total<br>Unrestricted<br>Restricted<br>**Funds**<br>Unrestricted<br>Restricted<br>Funds<br>Funds<br>Funds<br>**2022**<br>Funds<br>Funds<br>2021<br>Membership services:<br>£<br>£<br>£<br>£<br>£<br>£<br>Membership subscriptions<br>141,062<br>-<br>141,062           44,570<br>-        44,570<br>Annual conference fees<br>105,855<br>-<br>105,855         144,975<br>-      144,975<br>Other conference fees<br>-<br>-<br>-                     -                    -                  -<br>Education services:<br>Training course fees<br>17,745<br>-<br>17,745           21,805<br>-        21,805<br>Services<br>6,050<br>-<br>6,050             6,530<br>-          6,530<br>INCOME - CHARITABLE ACTIVITIES|
|---|
|**Total charitable activities**<br>270,712<br>- 270,712         217,880                    -      217,880|
|4<br>**Total**<br>Total<br>Unrestricted<br>Restricted<br>**Funds**<br>Unrestricted<br>Restricted<br>Funds<br>Funds<br>Funds<br>**2022**<br>Funds<br>Funds<br>2021<br>£<br>£<br>£<br>£<br>£<br>£<br>Advertising<br>38,810<br>-         38,810             7,200<br>-          7,200<br>Sponsorship<br>11,000<br>-         11,000           15,159<br>-        15,159<br>Services<br>5,000<br>-           5,000             5,000<br>-          5,000<br>INCOME - OTHER TRADING ACTIVITIES|
|**Total other trading activities**<br>54,810<br>-         54,810           27,359<br>-        27,359<br>5<br>INCOME – INVESTMENTS<br>**Total**<br>Total<br>Unrestricted<br>Restricted<br>**Funds**<br>Unrestricted<br>Restricted<br>Funds<br>Funds<br>Funds<br>**2022**<br>Funds<br>Funds<br>2021<br>£<br>£<br>£<br>£<br>£<br>£<br>Bank interest<br>53<br>-<br>53<br>124<br>-<br>124<br>Sponsorship includes income is received for promotional services provided for the Associated Board of the Royal Schools of<br>Music (ABRSM).|
|**Total investment income**<br>53<br>-<br>53<br>124<br>-<br>124|



_Page 16_ 



## The UK Association for Music Education – Music Mark 

## NOTES TO THE FINANCIAL STATEMENTS 

For the year ended 31 March 2022 

## 6 EXPENDITURE - RAISING FUNDS 

|Staff costs (direct)<br>Support and indirect staff costs<br>**Total Raising funds**|**Total**<br>Total<br>Unrestricted<br>Restricted<br>**Funds**<br>Unrestricted<br>Restricted<br>Funds<br>Funds<br>Funds<br>**2022**<br>Funds<br>Funds<br>2021<br>**£**<br>**£**<br>**£**<br>**£**<br>**£**<br>**£**<br>3,718<br>-<br>3,718             3,665<br>-          3,665<br>3,771<br>-<br>3,771             4,293<br>-          4,293<br>7,489<br>-           7,489             7,958<br>-          7,958|
|---|---|



Costs of raising funds represents staff time, associated support costs for identifying and applying for grant income and developing other income streams. 

## 7 EXPENDITURE - CHARITABLE ACTIVITIES 

|Membership support:<br>Freelance and consultants<br>Technical support and other<br>Staff costs (direct)<br>Support and indirect staff costs<br>Annual and other conferences:<br>Hotel and venue hire<br>Technical support and other<br>Freelance and consultants<br>Staff costs (direct)<br>Support and indirect staff costs<br>Training and education:<br>Venue hire<br>Freelance and consultants<br>Technical support and other<br>Staff costs (direct)<br>Support and indirect staff costs<br>**Total Charitable activities**|**Total**<br>Total<br>Unrestricted<br>Restricted<br>**Funds**<br>Unrestricted<br>Restricted<br>Funds<br>Funds<br>Funds<br>**2022**<br>Funds<br>Funds<br>2021<br>£<br>£<br>£<br>£<br>£<br>£<br>1,009         75,830         76,839             7,833<br>-          7,833<br>890         65,085         65,975             3,948          44,117        48,065<br>25,305         49,837         75,142           35,835          32,883        68,718<br>46,752<br>-         46,752           55,003<br>-        55,003<br>56,556<br>-         56,556                     -                    -                  -<br>41,256<br>-         41,256           27,079                    -        27,079<br>11,137<br>-         11,137             8,250                    -          8,250<br>10,387<br>-         10,387             7,916                    -          7,916<br>10,537<br>-         10,537             9,273<br>-          9,273<br>-<br>-<br>-                     -                    -                  -<br>3,633<br>-           3,633             1,169                    -          1,169<br>544<br>-              544             2,428                    -          2,428<br>37,376<br>-         37,376           21,623<br>-        21,623<br>37,915<br>-         37,915           25,330<br>-        25,330<br>283,297       190,752       474,049         205,687          77,000      282,687|
|---|---|



_Page 17_ 



## The UK Association for Music Education – Music Mark 

## NOTES TO THE FINANCIAL STATEMENTS 

## For the year ended 31 March 2022 

|8<br>OTHER EXPENDITURE<br>Other trading activities:<br>Technical support and other<br>Staff costs (direct)<br>Support and indirect staff costs|**Total**<br>Total<br>Unrestricted<br>Restricted<br>**Funds**<br>Unrestricted<br>Restricted<br>Funds<br>Funds<br>Funds<br>**2022**<br>Funds<br>Funds<br>2021<br>£<br>£<br>£<br>£<br>£<br>£<br>3,487<br>-           3,487             1,281                    -          1,281<br>5,534<br>-           5,534             2,895<br>-          2,895<br>5,614<br>-           5,614             3,392<br>-          3,392|
|---|---|
|**Total**|14,635<br>-<br>14,635             7,568<br>-          7,568|
|9a<br>**Total**<br>Total<br>Unrestricted<br>Restricted<br>**Funds**<br>Unrestricted<br>Restricted<br>Funds<br>Funds<br>Funds<br>**2022**<br>Funds<br>Funds<br>2021<br>General management:<br>£<br>£<br>£<br>£<br>£<br>£<br>IT & general office costs<br>6,684<br>-           6,684             9,065<br>-          9,065<br>Office rent<br>1,145<br>-           1,145           10,431<br>-        10,431<br>Insurance<br>974<br>-              974                728<br>-             728<br>Consultancy & support fees<br>4,028<br>-           4,028           10,584<br>-        10,584<br>Travel and subsistence<br>4,591<br>-           4,591             1,788<br>-          1,788<br>Printing and advertising<br>171<br>-              171                893<br>-             893<br>Accountancy services<br>18,916<br>-         18,916             7,750<br>-          7,750<br>Staff costs<br>23,059<br>-         23,059           28,953<br>-        28,953<br>Staff training<br>2,536<br>-           2,536                572<br>-             572<br>Bad debts & miscellaneous<br>300<br>-              300                457<br>-             457<br>SUPPORT COSTS – General management||
|Total General management|62,404<br>-<br>62,404           71,221                    -        71,221|
|9b<br>SUPPORT COSTS – Governance<br>Governance:<br>Staff costs<br>Accounts preparation<br>Independent examination<br>Travel and meeting costs<br>Strategic development|**Total**<br>Total<br>Unrestricted<br>Restricted<br>**Funds**<br>Unrestricted<br>Restricted<br>Funds<br>Funds<br>Funds<br>**2022**<br>Funds<br>Funds<br>2021<br>£<br>£<br>£<br>£<br>£<br>£<br>11,154<br>- 11,154           10,995<br>-<br>10,995<br>3,084<br>- 3,084             3,084<br>-<br>3,084<br>3,975<br>- 3,975             4,025<br>-<br>4,025<br>1,419<br>- 1,419                     -<br>-<br>-<br>22,554<br>- 22,554             7,966<br>-<br>7,966|
|Total Governance costs|42,186<br>-         42,186           26,070<br>-        26,070|
|||
|**Total support costs**|104,590<br>-       104,590           97,291<br>-        97,291|



Governance costs include staff costs for supporting the Trustee meetings for the strategic planning for the charity, the preparation of statutory accounts and independent examination fees. 

_Page 18_ 



## The UK Association for Music Education – Music Mark 

## NOTES TO THE FINANCIAL STATEMENTS 

For the year ended 31 March 2022 

## 10 ALLOCATION OF SUPPORT COSTS 

|Raising funds<br>Charitable activities:<br>Membership support<br>Annual and other conferences<br>Education services<br>Other expenditure<br>**Total allocated support costs**|**Total**<br>Total<br>Unrestricted<br>Restricted<br>**Funds**<br>Unrestricted<br>Restricted<br>Funds<br>Funds<br>Funds<br>**2022**<br>Funds<br>Funds<br>2021<br>£<br>£<br>£<br>£<br>£<br>£<br>3,772<br>- 3,772             4,293<br>-          4,293<br>46,752<br>- 46,752           55,003<br>-        55,003<br>10,537<br>- 10,537             9,273                    -          9,273<br>37,915<br>- 37,915           25,330<br>-        25,330<br>5,614<br>-           5,614             3,392<br>-          3,392<br>104,590<br>- 104,590           97,291                    -        97,291|
|---|---|



Support costs are allocated to other activities in proportion to direct staff costs incurred by those activities. 

## 11 EMPLOYEES 

|Chief Executive<br>Office and administrative support<br>The average number of employees during the year was:|1<br>1<br>5<br>3<br>No**.**<br>Year ended 31-Mar<br>2021<br>No.<br>**Year ended 31-Mar**<br>**2022**|
|---|---|
||6<br>4|
|The average number of full-time equivalent employees during the year|6<br>4|
|12a STAFF COSTS<br>Wages and salaries<br>National insurance<br>Pension contributions<br>Staff costs for the above employees:|159,574<br>137,421<br>3,232<br>4,231<br>3,564<br>3,113<br>£<br>£<br>**2022**<br>2021<br>**Year ended 31-Mar**<br>Year ended 31-Mar|
||166,370<br>144,765|
|Pension contributions relate to payments made for members of staff in the NEST auto-enrolment scheme.<br>The number of higher paid employees was as follows:<br>Total emoluments (salary)<br>£60,000 to £69,999<br>1<br>1<br>**Year ended 31-Mar**<br>Year ended 31-Mar<br>**2022**<br>2021<br>No**.**<br>No.||



The Trustees consider that the Chief Executive represents the key management personnel for the Charity. The total remuneration (salary, Employer’s National insurance costs and pension contributions) for the Chief Executive for the year was £74,357  (2021 - £73,301). 

_Page 19_ 



## The UK Association for Music Education – Music Mark 

## NOTES TO THE FINANCIAL STATEMENTS 

For the year ended 31 March 2022 

## 12b ALLOCATION OF STAFF COSTS BY ACTIVITY 

|Activities:<br>Raising funds<br>Membership support<br>Annual and other conferences<br>Education services<br>Other trading activities<br>Support costs:<br>General management<br>Governance<br>**Total staff costs**|**Total**<br>Total<br>Unrestricted<br>Restricted<br>**Funds**<br>Unrestricted<br>Restricted<br>Funds<br>Funds<br>Funds<br>**2022**<br>Funds<br>Funds<br>2021<br>£<br>£<br>£<br>£<br>£<br>£<br>3,718<br>- 3,718             3,665<br>-          3,665<br>25,305         49,837         75,142           35,835          32,883        68,718<br>10,387<br>- 10,387             7,916                    -          7,916<br>37,376<br>- 37,376           21,623<br>-        21,623<br>5,534<br>- 5,534             2,895<br>-          2,895<br>23,059<br>- 23,059           28,953<br>-        28,953<br>11,154<br>- 11,154           10,995<br>-        10,995<br>116,533         49,837       166,370         111,882          32,883      144,765|
|---|---|



Staff costs have been allocated to activities, including to support costs, based on the estimated time spent. 

## 13 NET INCOME 

|NET INCOME|||
|---|---|---|
|Independent examiner’s fee: - current year<br>Independent examiner’s fee: - prior year<br>Net income is stated after charging:|4,350<br>(375)<br>**Year ended 31-Mar**<br>**2022**<br>£|4,025<br>(500)<br>Year ended 31-Mar<br>2021<br>£|
|DEBTORS<br>Trade debtors<br>62,577<br>Other debtors:<br>Undeposited funds<br>2,940<br>Prepayments<br>19,260<br>Accrued income<br>111,559<br>£<br>TRUSTEES’ REMUNERATION AND EXPENSES<br>During the year £359 was paid to 4 Trustees in reimbursement of trevelling and out of pocket<br>payments were made to Trustees).<br>**Year ended 31-Mar**<br>**2022**||26,282<br>-<br>5,874<br>317,290<br>£<br>expenses. (2021 - no<br>Year ended 31-Mar<br>2021|
||196,336|349,446|



- 14 TRUSTEES’ REMUNERATION AND EXPENSES 

## 15 DEBTORS 

_Page 20_ 



## The UK Association for Music Education – Music Mark 

## NOTES TO THE FINANCIAL STATEMENTS 

For the year ended 31 March 2022 

|16<br>Bank – current accounts<br>Bank – deposit accounts<br>17<br>CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR<br>Note<br>Other taxes and social security costs<br>Other creditors (see below)<br>Accruals & deferred income<br>18<br>Trade creditors<br>**Other Creditors breakdown**<br>North west<br>West Midlands<br>Eastern<br>North East<br>PMLL liabilities for licence invoices raised<br>Monies held for regional groups of music service members<br>**Year**<br>**Year**<br>CASH AT BANK AND AT HAND|440<br>1,647<br>315,967<br>304,748<br>316,407<br>306,395<br>18,914<br>13,920<br>58,357<br>38,377<br>87,462<br>89,579<br>24,631<br>19,988<br>189,364<br>161,864<br>1,533<br>1,557<br>32,152<br>24,694<br>6,000<br>6,000<br>1,072<br>1,426<br>40,757<br>33,677<br>17,600<br>4700<br>58,357<br>38,377<br>**ended 31-Mar**<br>Year ended 31-Mar<br>**2022**<br>2021<br>£<br>£<br>**ended 31-Mar**<br>Year ended 31-Mar<br>**2022**<br>2021<br>£<br>£|
|---|---|



_Page 21_ 



## The UK Association for Music Education – Music Mark 

## NOTES TO THE FINANCIAL STATEMENTS 

For the year ended 31 March 2022 

## 18 ACCRUALS AND DEFERRED INCOME 

|Trade accruals<br>Trade creditors|11,794<br>24,631<br>**Year ended 31-Mar**<br>**2022**<br>£|11,794<br>24,631<br>**Year ended 31-Mar**<br>**2022**<br>£|17,204<br>19,988<br>Year ended 31-Mar<br>2021<br>£|17,204<br>19,988<br>Year ended 31-Mar<br>2021<br>£|
|---|---|---|---|---|
|Total Accruals and creditors||36,425||37,192|
|Deferred income:<br>Annual subscriptions<br>Training fees<br>Sponsorship and other funding<br>Services||59,998<br>3,670<br>7,000<br>5,000||62,825<br>4,550<br>5,000<br>-|
|Total Deferred income||75,668||72,375|
|Totals||112,093||109,567|
|Deferred Income<br>Deferred income at 1 April 2021<br>Income deferred in the year<br>Amounts released from previous years|||72,375<br>75,668<br>(72,375)<br>**Year ended 31-Mar**<br>**2022**<br>£||
|Deferred income at 31 March 2022||||75,668|
|**Total**<br>Unrestricted<br>Restricted<br>**Funds**<br>Funds<br>Funds<br>**2022**<br>£<br>£<br>£<br>Current assets<br>390,528       122,215       512,743<br>Current liabilities<br>(189,364) -<br>(189,364)<br>ANALYSIS OF NET ASSETS BETWEEN FUNDS||Unrestricted<br>Funds<br>£<br>342,874<br>(161,864)|Restricted<br>Funds<br>£<br>312,967<br>-|Total<br>Funds<br>2021<br>£<br>655,841<br>(161,864)|
|Total funds|201,164       122,215       323,379|181,010|312,967|493,977|



- 19 ANALYSIS OF NET ASSETS BETWEEN FUNDS 

_Page 22_ 



## The UK Association for Music Education – Music Mark 

## NOTES TO THE FINANCIAL STATEMENTS 

For the year ended 31 March 2022 

|20<br>Unrestricted funds:<br>General fund<br>Restricted income funds:<br>Arts Council England<br>North West Conference<br>South Yorks. Conference<br>Total Restricted Funds<br>Total Funds<br>20<br>Unrestricted funds:<br>General fund<br>Restricted income funds:<br>Arts Council England LDP<br>North West Conference<br>South Yorks. Conference<br>Total Restricted Funds<br>Total Funds<br>MOVEMENT IN FUNDS<br>MOVEMENTS IN FUNDS (continued)|At 1st April<br>2021<br>Income<br>Expenditure<br>Transfer<br>between<br>funds<br>**At 31st**<br>**March 2022**<br>£<br>£<br>£<br>£<br>£<br>181,010       325,575<br>(305,421)<br>-<br>201,164<br>303,353                   -<br>(190,718)<br>-      112,635<br>9,364<br>-<br>(34)<br>-          9,330<br>250<br>-<br>-<br>-             250<br>312,967                   -<br>(190,752)<br>-<br>122,215<br>493,977<br>325,575<br>(496,173)<br>-<br>323,379<br>At 1st April<br>2020<br>Income<br>Expenditure<br>Transfer<br>between<br>funds<br>At 31st<br>March 2021<br>£<br>£<br>£<br>£<br>£<br>141,484       260,739<br>(221,213)<br>-      181,010<br>-       380,353<br>(77,000)<br>-      303,353<br>9,364                   -                     -<br>-          9,364<br>250                   -                     -<br>-             250<br>9,614       380,353<br>(77,000)<br>-      312,967<br>151,098       641,092<br>(298,213)<br>-      493,977|
|---|---|



## RELATED PARTY 

## 21 TRANSACTIONS 

Ten trustees who served during the year; James Dickinson, Yogesh Dattani, Jan Ford, David Little, Peter Smalley, Kerry Watson, Peter Bolton, Jennifer Gilbert, Emma Calvert and Thom Meredith were employed during the year by Music Education Organisations that paid membership fees, and for conference and training attendance. Martin Fautley was individual paid-up member of Music Mark during the year. These fees were at standard, advertised ‘arms-length’ rates. Maureen Hanke was awarded honorary membership on retiring as a Trustee. 

_Page 23_