OoGuSign Envelop8 ID. 40A()￿￿4￿81414709-6A7l-Z8&AD2P2LTrTo6
Company Registration No.. 06226749 (England and Wales)
Registered Charity No- 1119372
UK MUSIC MASTERS LTD
(A COMPANY LIMITED BY GUARANTEE)
TRUSTEES, REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2021

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UK MUSIC MASTERS LTD.
(A COMPANY LIMITED BY GUARANTEE)
LEGAL AND ADMINISTRATIVE INFORMATION
Trustees
The trustees are also the statutory directors of the company for the purposes of company18w. The
trustees who served during the period were..
Simon Freakley - Chairman
V S H Robey OBE- Founder Director
A Carrington
J Nickson
P Keller
T Hull
P Thomas
E Vaizey
S Buntin9
J Joseph
M Kofokasumu - Treasurer
S Berryman (appointed 23.10.2020)
G Kanneh (appointed 22.03.2021)
S Mason (appointed 22.03.2021)
Key management
Roz De Vile -chief Executive Officer
Anne Flemin9 -Finance Director
Will H8rriss -Development Director
Dafydd Evans- Senior Le8rning Mana9er
Charity number
1119372
Company number
06226749
Re9lStered off ice
125 Kennington Road
London SE116SF
Auditor
Azets Audit Services
Greytown House
221-227 High Street
Orpington
Kent, BR6 ONZ
Bankers
CAF Bank
25 Kings Hill Avenue
Kings Hill
West Malling
Kent ME1

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UK MUSIC MASTERS LTD.
(A COMPANY LIMITED BY GUARANTEE)
CHAIRMAN'S REPORT
FOR THE YEAR ENDED 31 AUGUST 2021
As we emerge from this challenging pandemic period, it is with pride and admiration that I reflect
back on UK Music Masters Ltd (Music Masters.) year. Despite a difficult f inancial scenario and an
uncert8in landscape in which to deliver our work, the team has never been stronger and more
committed to its mission to give children, regardless of background or start in life. better chances
through access to an outstanding music education.
In September 2020, alongside a change of leadership 8s Roz De Vile stepped up as CEO, we
unveiled our rebrand and name chan9e to UK Music Masters Ltd. Dropping'London' from our name
refle¢ts our ambition to increase our impact across the UK. drawing from our experience and
learnings over 13 years of workin9 Wlth schools in underserved London Communities to reach many
more thousands of children who deserve the chance tothrive through an ex¢ellent music education.
Our five London partner schools remain a crucial and central part of our work. Despite 8 period of
school closure due to the impact of Covid-19, aeros$ 2020-21 we continued to teach 1.000 children
each week. ensuring consistency of learnin9 for our young musicians. While restrictions prevented
us f rom delivering all planned creative and performance opportunities we found new and innovative
ways to host performances and bring musical inspiration to our classrooms. supported by our
Ambassadors and Creative Partners. We also took the opportunity to learn from and promote the
voices of our young musicians whenever we could, reflected in this quote f rom 18-ye8r old Music
Masters 9raduate Emily in a discussion with peers around their own ambassadorial credentials:
'As an Ambassador now, I want to ensure th8t my professional career has a focus on
reaching Out through outreach pro9rammes as Music Masters gave to me. because
havin9 that experience f irst-hand has really made me want to give back and do the
same.,
At a lime when musicians, livelihoods were being decimated by the impact of Covid-19. we took
the decision to fully fund places for the second year of our PGCEI course in Group Instrument
Learnin9 and switch to an online appr08ch. By removing the financial and geo9raphicAI barriers to
accessing our course. we have been able to attract the most talented, committed teaching
musicians workin9 across the UK. individuals cap8ble of helping us drive a transformation of
national music teaching standards. All 22 student teachers not only passed with flying colours, but
brought richness to our COLtrse through their own diverse experiences of teaching in communities
around the UK.
Last year. we supported 60 music sector or9anis8tions to participate in our diversity and inclusion
audit tool I'M IN the Inclusive Music Index. Organisations represented the breadth of the music
seetor, including orchestras, choirs, Music Education Hubs, record labels. venues, festivals,
charities, publishers, schools, artist management agencies and more, serving a combined audience
of over 1 million people across the UK ond beyond.

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UK MUSIC MASTERS LTD.
(A COMPANY LIMITED BY GUARANTEE)
CHAIRMAN'S REPORT
FOR THE YEAR ENDED 31 AUGUST 2021 (continued)
Over the past 12 months we have witnessed more elearly than 8ver before the power music has to
comfort, connect and support. In unprecedented ¢ircumstances, Music Masters has further
enhanced its well-established reputation for expertlS8 in delivering excellent, impactful and
inclusive music education, provision of opportunity for youn9 people and its commitment to driving
systemic Change. In this time, I have never appreciated more the support of our committed and
resourceful teachers. loyal donors, creative and energetic office team, school leadership teams and
our excellent Board of Trustees. Finally, my sincere thanks 90 to Victoria Robey OBE. whose
extraordinary vision we feel we are now beginning to realise.
DÈcy5*Opéby'.
D3$22310A&F7 6
Simon Frea
Chairman
UK Music Masters Ltd.

Uocusigri Envelo￿ ID. 4DADE￿4￿644147o&SAI/.28EAD2F2D706
UK MUSIC MASTERS LTD.
(A COMPANY LIMITED BY GUARANTEE)
TRUSTEES, REPORT
FOR THE YEAR ENDED 31 AUGUST 2021
The trustees, who are also the directors for the purposes of company law, present their report and
the audited financial statements for the year ended 31 August 2021. The trustees have adopted the
provisions of the Statement of Recommended Practice ISORP) "Accounting and Reportin9 by
Charities" (FRS 1021 in preparing the annual report and financial statements of the charity.
The f inancial statements have been prepared in accordan¢e with the ac¢ountin9 policies set out in
notes to the accounts and comply with the eharity's governing document, the Charities Act 2011
and Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to
¢harities preparing their accounts in accordance with the Financial Reporting Standard applicable
in the UK and Republic of Ireland published on 16 July 2017 as amended by Bulletin 1.
Objectives and activities
Our objectives
To advance education for the public benefit through the promotion, support and encouragement of
the art of music in all its forms and in particular the promotion. encoura9ement and appreciation of
the violin. Secondly to promote any other charitable object for the public benef it.
In planning the activities of the charity, the trustees have given due regard to the Charity
Commission's guidance on public benefit and, in particular, the specific guidance for fee charging
charities. As mentioned above, the trustees believe that the activities of the charity in the year
conf irm its ability to provide current and on-90in9 benef il to the public.
Our activities
Our work is focussed on lon9-term interventions that create systemic change. Throu9h 811 that we
do, we aim to transform children's initial musical sparks into flames which burn brightly throu9hout
their lives, wherever they go, and whatever they do. We do this through:
Schools Programme Placin9 ourselves at the heart of state primary schools in underserved
communities to deliver inspiring instrumental and musicianship te8chin9. whilst listening to
and learning from the children, their families and school staff with whom we work to
understand the important and multi-faceted role that music can play to improve lives. This
is through our Schools Programme and, within it. our work with our Ambassadors and
Creative Partners.
Teacher Training Delivering and championing exceptional music teaching that reaches.
inspires and motivates children from any and every background. This is through our teacher
training focus which runs through our S¢hools Programme and our PGCEI in Group
Instrument Learning.
Diversity and Inclusion Challenging and supporting the music sector to understand and
address areas for improvement in becoming more diverse and inclusive, enabling talented,
diverse young musicians- just like those with whom we work every day- to pursue a future
with music in their lives. Inclusion is a driver for all our work, but we support sector
organisations through resources such as our Inclusive Music Index audit tool. I'M IN.
Music Masters S¢hools Programme
We believe that music belon9S to everyone in Society and that excellent music making should be at
the heart of our local communities. Since 2008, our Schools ProgrAmme has brought musicianship,
violin and cello teaching of the hi9hest quality into inner-London primary schools situated in areas

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(A COMPANY LIMITED BY GUARANTEE)
TRUSTEES, REPORT
FOR THE YEAR ENDED 31 AUGUST 2021 (continued)
of fin8nci81 deprivation. We work Closely with schools and families to understand the challenges
faced within their communities and in education settings. Currenlly catering for hundreds of
children across five schools, we work with every child in the school during their first three years at
primary school, providing each one with their own instrument and up to three lessons a week in
small groups and ensembles. As the children grow, our programme grows and changes with them
in response to their potential. Over the years we have supported numerous children to gain music
scholarships to music-focussed state and private secondary schools, and through our Pathways
programme, which provides additional tuition ond opportunities to ambitious, promising children
from backgrounds underrepresented in classical musi¢
created a route through which a
professional career in the sector can be pursued.
We know that an excellent music education requires more than great music lessons, and we work
with our young people, teachers. sthools, creative partners and ambassadors to desi9n and deliver
wide r8nge of creative workshop, ensemble and performance events and opportunities across art
forms, genres and approaches. We actively commission new musical works from diverse
¢omposers to breathe new life into the learner repertoire. and are proud to have a strong collective
of musical ambassadors whose partnership and support of our work shone particularly brightly in
2020-21. We remain committed to supporting emerging artists to become better musicians through
providing opportunities to develop their artistry and reach new audiences through our school
communities. and are delighted that these emerging artists now include some of our own 9raduates
as they make their way into higher education to study music at eonservatoire level.
Teacher Training
Over the past 13 years, 8 hallmark of Music Masters, Schools Pro9ramme has been its high stand8rd
of teachin9, driven by our stron9 focus on teacher training and leadership development for the
teachers with whom we work. But bèyond our own Schools Programme we know that a Confidence
crisis exists within music teaching on a national scale due to a lack of training Opportunities for
music teachers, and the low value p18ced both on the music teaching profession and on music as a
subje¢t in schools. This has resulted in a severe patchiness of provision across the UK, with so many
children missing out on the chance to experience lif6-enhancing musical opportunity. In response
to this issue. in 2019 we 18unched our PGCEI (international PGCE) course in Group Instrument
Learning, through which we seek to f ind and train the most committed, promising and ambitious
teaching musicians across the UK those who can make i real difference to the music education
landscape. This course runs in partnership with Birmin9ham City University and is the first
postgraduate-level qualification in the UK designed for musicians teaching groups. which is the
most ¢ommonly-seen approach to instrumental teaching in state primary s¢hools.
Diversity & Inclusion
As part of our mission to keep children's musical flames alight, we address barriers to access and
opportunity that could dampen these musical flames. Barriers to music are present in so many forms
including (but not limited to) racial biases, physical disability and lack of financial means. Inclusion
is at the heart of Music Masters, work, guiding all that we are and do. and as such we work hard
with our teachers, partners and schools to ensure that our programmes are as accessible, relevant
and inspiring as possible. We want youn9 musician5 from all backgrounds
such as those our
charity works with every day - to inherit a stronger, more cre8tive musical future, and for those
who wish to pursue a career in music the opportunity to enter a sector th8t genuinely welcomes
and nurtures diverse talent. I'M IN
our Inclusive Music Index was created to support this and
launched in trial form in July 2020, with significant progress this year, as you'll read in the Strategic
Report section below.

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TRUSTEES, REPORT
FOR THE YEAR ENDED 31 AUGUST 2021 (continued)
Objectives for FY 2020-21
The main objectives of the ch8rity are summarised in our Strategic Plan: 'Excellence for Everyone,
(2018-2022}, and ¢ascade from the following aims:
1. Establishing our network of Partner Schools as the leading example of excellent.
sustainable, integrated music education for state maintained primary schools
2. Creating the UK'S f irst national teacher training programme for 9roup instrumental tuition
in primary schools
3. Building a cohort of leading artists as both advocates for music education and mentors for
student musicians
4. Advocating for practical, systemi¢ ¢hange within the industry for Diversity & Inclusion and
for music education
S. Establishing new, long-term, predictable income streams for Music Masters
We remain as committed as ever to a¢hievin9 our aims. In li9hi of the Covid-19 pandemic, we have
carefully reviewed our strategy and in some instances. our short-term objectives have changed, 8S
have the ways in which we achieve our strategic aims. To ensure we remained alert and agile to the
ongoin9 imp8Ct of the pandemic, our f ull administrative team met every six weeks throughout 2020-
21 to review and refine objectives, using a coachin9 approach to gently challenge. support and
motivate colle89ues to Consider the ongoing relevance of objectives and how realistic they were.
This undoubtedly resulted in hi9her levels of motivation and 8ccomplishment.
Strategic Report
Achievements and Performance
Partner Schools (strategic aim 1)
September 2020 be9an successfully with è return to on-site delivery in all five of our schools, thanks
to the support of our Partner Schools to ensure that teaching could be delivered safely and
effectively. Over the year, despite the ongoing impact of Covid-19 on schools. closures and
restrictions. our teachers delivered lessons to 1.000 children aeross our partner schools through a
regular weekly schedule, switchin9 to our online music school (developed in early 20201 durin9 the
period of school closure in spring 2021. and working to 8 hybrid approach of online and in-$chool
for key worker children and when bubbles of ¢hildren were at home self-isolating. However,
restrictions in schools did not allow us to run orchestras during the year as this would involve mixing
bubbles, and we look forward to a return to orchestral and ensemble playing in 2021-22.
In light of Covid-19 restrictions, we continued to adapt the delivery of creative projects in 2020-
2021. We launched a new Meet the Artists series in partnership with YCAT (the Young Classical
Artists Trust), bringing excellent musicians into our classrooms through Zoom, inspirin9 our
stijdents and challenging our artists on how to deliver in this way. We involved all 220 Year 4
students in clas5room-based and instrumental lesson workshops as part of a project with composer
and Musi¢ Masters Ambassadors Daniel Kidane. irb partnership with the British Film Institute,
resulting in a co-created musical work set to animated film, entitled At On¢e We Train, which was
premiered during our Christmas 2020 Bi9 Give online campaign event, A Chrislmas Journey.
While opportunities to perform to an audience were limited, we were delighted to bring our students
and schools together to record our Winter and Summer concerts, with around 750 partiCiP8nts

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TRUSTEES. REPORT
FOR THE YEAR ENDED 31 AUGUST 2021 (Continued)
garnering nearly 4,000 online views in tot81. In January, lockdown came into place and we resvmed
our live-streamed musical series Friday Live! {ori9inally18un¢hed in 2019-20} as a series of creative
online workshops run exclusively for our students and families via Zoom, led by our teaching team.
And when schools re-opened in spring after lockdown, we reverted to live delivery to run Creative
Composition Workshops for all 220 Year 3 students across our schools. These curriculum-inspired
workshops encouraged our students to get creative with music, both on and off their instruments.
and provide a bit of musical magic to the school environment.
In 2021-22. five talented instrumentalists joined our Pathways programme and together with the
rest of the Pathways ¢ohort from across our schools - joined Randall Goosby. our resident Robey
Artist (in partnership with the Young Classical Artists Trust) for a brand-new online initiative called
Randall Goosby's Studio Class, a 5-month long series of group and individual lessons. This
culminated in a fantastic studio recital at Wigmore Hall in May, in which all Pathways students
performed on stage, live-streamed to a remote audience of parents and families.
The Schools Programme teaching team's training and development in 2020-21 fo¢ussed in on three
core areas= Inclusive practices via Youth Voice, developing Diverse Repertoire in the classroom and
Parent Engagement. September 2020 kicked off with teacher training in Youth Voice where
teachers were able to workshop techniques to listen to and collaborate with their students, ideas,
puttin9 these directly into practice with the planning of Winter Concerts. Teachers also developed
parent engagement strategies in response to restrictions on parent attendan¢e at lessons, honing
effective communications with parents through emails, video tutorials and zoom meetings in face
of these challenges. We ran practical sessions on diversifying teachin9 repertoire and looking at the
impa¢t of Class and inequality in musie education. resulting in signif icant steps forward. As a full
administrative and teaching team we researched and compiled an online journal resource of black
Composers. and our KS2 Musicianship programme piloted an Iranian music project called the
Phoenix of Persia, developed in collaboration with City University for Year 4 and Year 6 children
and their class teachers. In addition, two of our string teachers collaborated with Klezmer specialist
Ilana Cravitz from January to develop new strin9 repertoire for Year S and Year 6 children.
The teaching team also benefitted through observations from ESTA (European String Teachers
Association) teaching mentor Helen Dromey.
National Teacher Training Programme (strategic aim 2)
2020-21 marked the second year of rLtnning our PGCEI course in partnership with Birmingham City
University. When the pandemic started, we took the decision to fully fund course places for 2020-
21 to ensure no barriers to access, particularly at a very challen9in9 time tor many music
professionals, livelihoods. From a shortlist of 40, we recruited a cohort of 22 teaching musicians
clearly dedicated to making a difference. from right across the UK including Scotland. Manchester
and Liverpool, in partnership with the Royal Liverpool Philharmonic's community music programme,
In Harmony Liverpool.
Having trialled an online approach to delivery for our first cohort. we took the decision to plan for a
fully-online year, with in-person observation and mentoring opportunities where possible. Despite
some early concern around how an online-only approach would impact on course outcomes, we
started and ended the year with all 22 sludents. Students from this year's cohort have recently taken
up °Musician in Residen¢e' and leadership roles in Gloucestershire and Scotland, respectively.
Across the year, lectures were delivered by Music Masters tutors on topics including Behaviour
Management, Motivation, Planning, Creativity and Language, and respected Birmin9ham City

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University tutors Anthony Anderson, Louise Khalid and Gary Spruce on topics including Musical
Learning and Knowledge, Progression Development and Curriculum, and Teaching Standards.
Guest lecturers included Anna Bull and Helen Dromey on Class and Music Education. and Eleanor
Ryan and MahAliah Edwards on Race and Music Education and Diversifying Repertoire,
respectively. Steven Berryman (Director of Arts, Culture and Community for the Odyssey Trust for
Education) and Emily Crowhurst (Head of 4-18 Music and Performing Arts, School 211 delivered
lectures on Curriculum, including an oxploration of the new Model Music Curriculum, and Julie
Johnson hosted sessions on Safeguarding and Wellbeing. Practical sessions were delivered by
guest organisations includin9 Drake Music, Colourstrings U K, Awards for Young Musicians and
Benedetti Foundation, and the cohort enjoyed an online twilight Q&A with our Teacher Training
Ambassador. Nicola Benedetti.
We also created an Advisory Group for the course from experts across the UK, including for the
first time ever
our own Champions (9raduatesl who have extremely credible experience of how
teachin9 can impact young people's musical journeys.
Across our 2019-20 and 2020-21 cohorts, the estimated number of young people rea¢hed through
our student teachers is 1,800.
Testimonials
In December, the course received a highly positive appraisal from Birmingham City University.
includin9 the following quotations:
"Enga9ing and stimulating online sessions f8cilitated by enthusiastic tutors. Clear expectations set
from the programme and reinforced by tutors in relation to engagement, contribution and
professionalism. Tutors modelled good practice for online teaching with a range of resources and
activities used for teaching and the checking of learning through effective questioning techniques,
breakout room discussion, group feedback and mentimeter....As a whole all students commented
extremely positively on their experience so far, which included induction and teaching sessions with
one student statin9 that they've never received a better online learnin9 experience than what
they've experienced to date with Music Masters. The students really enjoyed the online teaching
sessions, whi¢h they felt were inter8Ctive and really supported their own practice throu9h
modellin9
Below are reflections from our 2020-21 student teacher evaluation-
'(The PGCEI) has made me realise that whilst l am teaching the violin, l am actually teaching the
much wider subject of music. I don't think I realised the role I played within that before and was
overly focussed on just learning how to play the instrument.
'Through this ¢ourse I've had the opportunity to deeply examine my valves as a teacher, gain
inspiration f rom other experienced teachers, as well as a better overview of the UK music education
sector. The course also hugely impacted my approach to planning and assessment of my students.,
'It's been wonderfully refreshin9 to come together as a cohort and share ideas during a time where
we might have otherwise felt isolated while teaching online. I feel I have been able to deliver more
creative experiences for my learners in online lessons as a result of my learnin9, research and
observations. Our students have faced many ¢hallenges and diff iculties this year. I feel that the

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TRUSTEES, REPORT
FOR THE YEAR ENDED 31 AUGUST 2021 lcontinued)
course has helped me sensitively address and adapt to the needs of my learners while working
online, but also upon resuming face to fa¢e lessons.
Artists as Advocates and Mentors (strate9ic aim 3)
This year saw us work closely with many of our artists and ambassadors. both within our Schools
Programme and PGCEI as already described, but also through a dedicated focus on the power of
artists as advocates and change-makers. This wa5 principally expressed through a livestream
fundraising event in March entitled Ambassadors for Change. In this event we heard our
ambassadors discussin9 the important role that music c8n play both in the lives of youn9 people
and more widely, and featured exclusive performances from our ambassadors including Harlem
Quartet, Benjamin Grosvenor and Hyeyoon Park, Sheku and Isata Kanneh-mason, Nicola Benedetti
and an arrangement 8nd performance of Donald Grant's Bha la eile ann (There was a different day)
by Tom Poster and Elena Urioste with fellow Music Masters ambassadors and students frorn our
Schools Programme.
Ambassadors for Change 98ve Music Masters its hi9hest-ever number of web visitors in a single
month since the website launched. with 15,000 unique page views on the event P89e, and an
increase in views across other pages of the website as new visitors explored the charity's work. The
event was also hu9ely imp8Ctful on our social media platforms. resultin9 in a large number of new
followers. More people viewed our tweets in March than in January, April and May combined.
Benjamin Grosvenor was interviewed on Times Radio about Ambassadors for Change. which was
81so featured on The Times website.
Advocating for Change (strategi¢ aim 41
In autumn 2020, with sponsorship from AlixPartners and support from Included, we launched a trial
version of our Inclusive Music Index, 'I'M IN,, a unique diversity and inclusion audit tool for the
music sector. Over 2020-21, we worked with over 60 organisations within the sector, including
orchestras, music hubs, and schools, publishers, festivals. charities, professional bodies and higher
education providers. including some of the UK'S most well-known classical music or9anisations,
impacting on a combined audien¢e of more than 1 million people. This proves the tool's wide appeal
in helping create positive change for the f uture.
In an evaluation Completed by 35 participating organisations, immediate outputs and outcomes
recorded included increased understanding of/confidence discussing D&1 (which presented
consistently as a serious barrier to D&1 progres51, whole-team unconscious bias training. changes
to recruitment processes, and commitments to diversify 9overnar)ce and audiences. Of the
evaluation respondents, 75% felt that I'M IN had raised new, previously undiscussed issues in
relation to D&1. Furthermore, many organisations felt that I'M IN had uniquely created a safe,
unpressured opportunity to come together for challenging but energising discussions as a wide,
organisationally representative group.
I'M IN is just one way we support the music sector throu9h our passion for inclusion. In our drive to
make change, we remain committed to challenging, conne¢ting and motivating our industry peers
in all that we do, in¢luding throu9h the powerful voi¢es of our students. graduates and
Ambassadors. More than ever before, 2020-21 showed us how essenti81 the voices of our own
participants were in advocating for chan9e. This is apparent in a video in which a group of

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FOR THE YEAR ENDED 31 AUGUST 2021 (continued)
Champions (our S¢hools Programme graduates) came together to talk about the power of music,
and their own self-assigned ambassadorial responsibilities. You can view this film, The Importance
of Ambassadors - Music Masters Champions in Discussion. and other5 illustratin9 our work on our
You Tube channel https.'/lwww.youtube.com/clmusicmastersl
Our Senior and Teaching team spoke on panels and symposia, and supported a range of
organisations includin9 exam boards. music education hubs and music services around the UK to
Consider new approaches to Issues around music education and diversity and inclusion. Music
Masters also appeared in the media several times across the year to advocate for this vital work,
ineludin9 interviews with Music Masters staff te8¢hers Rachel Cooper and Rosanne Jacobs on BBC
Radio 3 and BBC Radio London respectively to give tips to parents and carers about helping children
learn music at home, and CEO Roz De Vile appearing on BBC Radio 3's In Tune programme with
Sean Rafferty on how music could support youn9 people post-pandemic, a response which was
also featured in articles in Music Teacher Magazine and The Strad. In Av9USt, the latter publication
Iso featured Roz's response to the threats to A-Level Music take-up.
Establishing New, Long-term Income Streams (strategic aim S}
Aside f rom the financial challenges faced due to the pandemic. this is an aim that is continually
under review 8nd we continue to seek ways to diversify our fundraised income as well as developing
sustainable income streams f rom our charitable activity through contributions from our partner
schools and parents. We are always mindful when ¢onsidering these income streams not to create
financial barriers to participation from the under represented ¢ommunities we seek to serve.
From the outset of the pandemic, we pivoted to delivering our fundraising activity mostly through
online channels. We delivered an online Christmas event in December 2020,. a fundraiser
'Ambassadors for Change, in February 2021, and followed this with an online summer campaign
'Pathways: Empowering Potential,. This activity has enabled us to connect with new supporters
across the country, and test new ways of engaging with new donors. Alongside this. we are grateful
for the continued support of existing supporters, whose faith in our vision for the future and our
potential to bring about change in music education, is inspiring to us.
Financial Review
The results for the year are set out on page 20 of these f inancial statements. The deficit for the year
was £11,34512020: £96,273 surplus). as set out in the finan¢ial statements. This is comprised of a
surplus of £6.721 arising from unrestricted funding and a deficit of £18.060 from restricted fundin9
(2020.. surplus of £15,769 related to activity f unded by restricted ineomel. The balance of restricted
funds held, £11,842, will be utilised in the year to 31 August 2022. Total income was £1.078,729
(2020: £1.165,137) and total expenditure was £1,090.07412020: £1,068.864).
Ongoing COVID-19 restrictions during the year had an impact on both fundraising activity and
charitable activity particularly with respect to our Schools Pro9ramme where ensemble and other
group work was not possible as these would have involved mixing of year 9roup bubbles. However,
the majority of our planned activities did take plaee
in person when possible and online when
restrictions did not permit in person activity. No staff were furlou9hed during the pandemic.
io

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TRUSTEES, REPORT
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Reserves
Music Masters, reserves policy is as follows:
The policy of the trustees IS to maintain a level of reserves that will provide a stable base
f rom which to fund the charity's future activity whilst ensuring that excessive funds are not
accumulated.
Specifically, the trustees have set a target range for general reserves of £230.000 to
£250,00012020.' £230,000-£250,000), which the trustees estimate is sufficient to meet the
charity's legal commitments should it be required to shut down due to lack of available funds.
The r8nge is also reviewed in the context of the following year's running costs.
General reserves at 31 Au9USt 2021 totalled.. £245.560 (2020: £380,551). Having considered
the financial stability of the or9anisation, the trustees Consider the level of reserves to be
adequate.
Desi9n8ted Funds
The trustees reco9nise that the effectiveness of the Schools Pro9ramme is heavily reliant on
uninterrupted music tuition and therefore view it to be prudent to maintain a designated fund the
Learning Continuity Fund - to mitigate any f luctuations in funding. At 31 August 2021 the balance of
this f und was £119,05012020 £136,919) and it is expected that this f und will be spent in its entirety
in the year to 31 Au9USt 2022.
The trustees resolved to create a new designated fund - the Fixed Asset Fund - which represents
the value of reserves invested in both tan9ible and intangible fixed assets and programme related
investments (musical instruments}. These assets are required for the use of the Charity and its
beneficiaries and these reserves are therefore not 8vailable for other purposes. At 31, August 2021
the balance of this fund was £183,38312020- nil). which is made up of a transfer of funds of £159,581
and a gain on revaluation of £23,802.
Funds held as Custodian Trustee on behalf of others
There are no such funds held (2020.. nil).
Permanent endowment invested on a total return basis
There 8re no such investments12020: nil).
Plans for Future Periods
In the fourth and final year of its strategi¢ plan 'Excellence for Everyone, Music Masters intends to
continue to make progress against the aims outlined on page 6.
2021-22 also involves a period of piloling, marketing research and an impact analysis of our
pro9rammes, before bringing together stakeholders and beneficiaries from across our organisation
to build our new strategy. Our objectives for the year include..
Building our PGCEI course with a greater emphasis on coaching and leadership skills, and
opening up to a cohort of teachers of any instrument taught in a primary school context
around the UK. Both of these developments are designed to ensure teachers from across
UK communities can access the course, and have the leadership skills and drive to
transform standards of music education.
Creating partnerships with UK-wide organisations to widen our impact and use our
expertise to support where we are most needed. includin9 With the Royal Welsh College of
Music.
li

L)OGu5ign Envtrbpe ID. 40ADtrE4b-84414709.LIA71.211ÈAD2F2D70(5
UK MUSIC MASTERS LTD.
(A COMPANY LIMITED BY GUARANTEE)
TRUSTEES. REPORT
FOR THE YEAR ENDED 31 AUGUST 2021 (continued)
Growin9 our graduate network through developing our CPD and support offer.
Piloting in-course placements through new school and music hub / service partnerships
around the UK to increase on-the-ground learning for our student te8chers and understand
the impact of the course on placement hosts (schools / hubs / services) and on PGCEI
student pathways to impact on many more children around the UK.
Strengthening and growing our schools programme throu9h an increased focus on Youth
Voice, building and fosterin9 closer relationships with parents and carers f urther to work
on this during the pandemic, and bringing together our senior leadership teams in Partner
Schools to create an advocacy alliance to persuade and inspire schools across the UK to
value music.
Working closely with our ambassadors, including 8 new Robey Artist, Jordan Bak through
our creative partnership with the Y04Jng Classical Artist Trust.
Commissioning ten diverse composers as part of Many Voic8s.- Engemble -8 collection of
new music for learner and professional groups, to be co-created with children within our
partner schools. in partnership with NMC Recordin9S.
Launching our Inclusive Music Index diversity & inclusion tool I'M IN in its full form,
including in a free and paid-for version to support and challen9e music organisations to
drive systemic ch8nge.
STRUCTURE. GOVERNANCE AND MANAGEMENT
Structure
UK Music Masters Ltd 15 a company limited by guarantee not having a share capital which is
governed by its Memorandum and Articles of Association. It is a reglstered ¢ompany number
6226749 and is also a registered charity in England and Wales. number 1119372.
The charity was incorporated on 25 April 2007 as The London International Violin Competition. The
Members resolved by special resolution dated 15 January 2008 to change the name of the charity
to London Music Masters and this was effected on 21 January 2008. The Memorandum and Arti¢les
of Association were f urther amended by special resolution on 21 May 2012, prim8rily in order to
bring them up-to-date with current legislation and to raise the maximum number of trustees. The
Members resolved by special resolution dated 13 August 2020 to chan9e the name of the eharity to
UK Music Masters Ltd and this took effect from 1 September 2020.
Governance
The work of the organisation is overseen by the trustees who meet at regular intervals to provide
strategic direction and to monitor and review the work of UK Music Masters. Potential trustees are
considered by the Chairman and proposed to the other trustees before being elected by a simple
majority of all the directors entitled to attend and vote at any meeting of the trustees. New trustees
are given an induction by way of a on8-to-one meeting with the Chief Executive and members of
the senior leadership team accompanied by a pack of information. including the most recent set of
accounts. trustee meeting notes. development committee notes and other relevant supplementary
documents describing the charity's recent activities.
12

Docusign envelopE ID.. 40AoeE46.84414709-eA77.28EAD2P2L1106
UK MUSIC MASTERS LTD.
(A COMPANY LIMITED BY GUARANTEEI
TRUSTEES, REPORT
FOR THE YEAR ENDED 31 AUGUST 2021 l¢ontinued)
Fundraising
Music Masters generates income from fundraising to support its work. It broadly focuses on three
areas:
Individu81 giving.. this includes giving schemes that comply with Gift Aid regulations as set
out by HMRC.
Trusts and Foundations.. Music Masters makes a range of applications to trusts and
foundations in the UK and abroad. for both core lunrestrictedl and project {restricted)
fundin9.
Corporate sponsorship: Music Masters engages with a number of corporate partners, whose
funding supports a range of initiatives across the organisation.
The Trustees review f undraising activity at each Board meeting. Music Masters is registered with
the Fundraising Re9ul8tor, and is bound by the Code of Fundraisin9 Practice. The Code sets out the
key principles of behaviour expected of all charitable fundraising or98nisations in the UK. More
information about the re9ul8tor. and their role in monitoring fundraising standards, Can be found on
their website: www.fundraisin9regulator.org.uk.
The charity did nol receive any fundraising Complaints in the year.
Fundraising complaints should. in the first instance, be directed to the Chief Executive of Music
Masters, Roz De Vile, either by letter (Music Masters, 125 Kennin9ton Road. London SE116SF) or by
em8il (¢ontact@musiemasters.or9.ukl. All complaints will be acknowledged within five working
days, with a full reply within 21 days.
If this does not resolve the issue, then the Complaint can be escalated to the Fundr8ising Regulator
for further action. Music Masters is committed to ensuring that ils f undroising activities protect the
public, includin9 any vulnerable people it works with, from unreasonably intrusive fundraising
approaches. It will never apply undue pressure to donate. Where an individual has requested not to
receive fundraisin9 communications, this will be honoured, in line with the spirit of all relevant data
protection legislation.
Music Masters will also Comply with any requests from the Fundraising Preference Servi¢e for the
removal of data subjects from its database.
Management
The day-to-day management of the charity is delegated to the Chief Executive Off icer who is
supported by senior leaders on the staff team.
The trustees are responsible for making Strategic decisions relating to the scope and aims of the
charity's work. They are also responsible for agreeing the annual budget, which is then overseen by
the Chief Executive Officer with quarterly mana9ement accounts being presented to the Trustees.
Any material overspends must be authorised by the trustees.
The eharityalso has a Development Committee, which does not have delegated governance powers
but meets in an advisory cap8Clty to discuss and refine the ¢harity's fundraisin9 Strategy and
progress.
In 2018/19 an Advisory Council was established with the aim of further strengthening the charity's
network and providin9 additional perspectives to the management team. Additionally in 2019120 a
13

Oocusign &nvelope ID." 40A￿￿￿4(1-B44I-47o9-[1AlT-2￿EAo2￿2u7Ot>
UK MUSIC MASTERS LTD.
(A COMPANY LIMITED BY GUARANTEE)
TRUSTEES. REPORT
FOR THE YEAR ENDED 31 AUGUST 2021 l¢ontinued)
PGCEI specific Advisory Group and a Wales Advisory Group were established to support the
management team with further developing these areas of our work.
Pay policy for senior staff
Senior staff in the year comprised the Chief Executive Off icer. Development Director, Finance
Director and Senior Learning Manager.
The pay of senior staff is reviewed annually and normally increased in a¢¢ordance with inflation and
average earnings for the sector.
No trustee received remuneration in the year. Details of trustees, expenses and related party
transactions are disclosed in note 16 to the accounts.
Risk Management
The trustees recognise their responsibility for the mana9ement of the risks faced by the charity. A
risk register is updated quarterly and where there are material changes to perceived risks. reports
are presented to the board and discussed in order to ensure that the trustees are made aware of
any major risks the charity fa¢es and review the adequacy of controls. Together with the executive
the trsjstees consider risk in the following areas.. finance, human resource, reputation, legal,
Safeguarding. disaster planning and strategically significant projects. Trustees provide a critical
challenge to the Chief Executive Officer on all these areas of risk, advising on mitigation strategies
as appropriate.
The signif i¢ant new risk to the charity is the on90in9 impact of Covid-19 which will continue to
affect income (the short term effects on individual and institutional 9iving are still being understood,
but we anticipate a challen9ing f undraising landscape} and operations (our work is mainly based in
schools and public venues all of which remain at risk of short term closure in the event of further
restrictions). Fundraising and operational plans have been reviewed and adapted where possible.
The senior leadership team is extremely alert to this risk and is working closely with trustees to
mitigate the effects. In addition, we m8inlain our awareness of pre-existing and emerging risks by
maintaining a regular schedule of review for our risk registers at executive and trustee level.
Going Concern
The trustees recognise their responsibilities for assessing the charity's ability to continue as a going
concern and have reviewed budgets, future plans, contingency plans for providing seNices to
beneficiaries online in the event of Covid-19 restrictions imp8Cting planned delivery and taken into
consideration confirmed f uture funding. Contingency plans have also been drawn up in the event
of lower than expected income. The trustees have concluded that the charity is a goin9 con¢ern
and there are no material uncertainties relating to its 90ing coneern status.
14

Docusign ¥nvtrlop8 ID.. 40AOEE4e-84414ru9-BA77-28EA02F20706
UK MUSIC MASTERS LTD.
(A COMPANY LIMITED BY GUARANTEE)
STATEMENT OF TRUSTEES, RESPONSIBILITIES
The trustees (who are also directors of UK Music Masters Ltd forthe purposes of company lawl are
responsible for preparing the Trustees, Annual Report {including the Strategic Report) and the
*inancial statements in accordance with applicable law and United Kingdom Accounting Standards
(United Kin9dom Generally Accepted Accounting Practice).
Charity law requires the trustees to prepare financial statements for each financial year which give
a true and fair view of the state of affairs of the ¢haritable company and of the surplus or deficil of
the Charity for that period. In preparing those financial statements. the trustees are required to:
select suitable a¢¢ountin9 policies and then apply them consistenily.
observe the methods and principles in the Charities SORP,.
make judgments and estimates that are reasonable and prudent;
state whether applicable UK Accounting Standards have been followed, subject to any
material departures disclosed and explained in the financial statements-
prepare the financial statements on the going concern basis unless it is inappropriate to
presume that the charity will continue in operation.
The trustees are responsible for keeping proper accountin9 records, which disclose with reasonable
accuracy at any time the financial position of the charitable company and enable them to ensure
that the f inan¢ial statements comply with the Companies Act 2006. They are also responsible for
safeguarding the assets of the charitable company and hence for taking reasonable steps for the
prevention and detection of f raud and irregularities.
Statement as to Disclosure of Information to Auditors
So far as the trustees are aware, there is no relevant 8udit information of which the charitable
company's auditors are unaware, and each trustee has taken all the steps that he or she ought to
have taken as a trustee to make himself or herself aware of any relevant audit information and to
establish that the eharity's auditors are aware of that information.
y order of the trustees
DowSl9fiedby'
03ts223eDAEF746E
Simon Freakley
Chairman
Date 9 December 2021
15

Docusign knv8lop8 ID. 40AOEE4t>84414709.BA77.2¥kAt)2F2D706
UK MUSIC MASTERS LTD.
(A COMPANY LIMITED BY GUARANTEE)
INDEPENDENT AUDITORS, REPORT TO THE TRUSTEES
FOR THE YEAR ENDED 31 AUGUST 2021
Opinion
We have audited the financial statements of UK Music Masters Ltd (the 'ch8ritable company'l for
the year ended 31 Au9USt 2021 which comprise the Statement of Financial A¢tivities, the Balance
Sheet, the Cash Flow Statement and noted to the accounts. includin9 significant accounting
policies. The f inancial reporting f ramework that has been applied in their preparation is applicable
law and United Kingdom Accounting Standards, including FRS 102 The Financial Reporting
Standard appli¢able in the UK and Republic of Ireland (United Kingdom Generally Ae¢epted
Accounting Practice).
In our opinion the financial statements:
give a true and fair view of the state ol the charitable company's affairs as at 31 August
2021 and of its incoming resources and application of resources, for the year then ended.
have been properly prep8red in a¢cordance with United Kingdom Generally Accepted
Accountin9 Practice; and
have been prepared in accordance with the requirements of the Companies Act 2006.
B8sis for opinion
We Conducted our audit in accordance with International Standards on Auditing (UK) {ISAs {U Kl)
and applicable law. Our responsibilities under those standards are further described in the Auditor's
responsibilities for the audit of the f inaneial statements section of our report. We are independent
of the charitable company in accordance with the ethical requirements that are relevant to our audit
of the financial statements in the U K, including the FRC'S Ethical Standard. and we have fulfilled our
other ethical responsibilities in accordance with these requirements. We believe that the 8udit
evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
Conclusions relatin9 to 90ing Concern
In 8uditin9 the f inan¢ial statements, we have concluded that the trustees. use of the going concern
basis of accountin9 in the preparation of the f inancial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to
events or conditions that. individually or collectively, may cast Si9nificÈnt doubt on the charitable
comp8ny's ability to continue as a going concern for a period of at least twelve months f rorn when
the f inancial statements are authorised for issue.
Our responsibilities and the responsibilities of the trustees with respect to 90ing concern are
described in the relevant sections of this report.
Other information
The other information comprises the information included in the annual report other than the
f inancial statements and our auditor's report thereon. The trustees are responsible for the other
information contained within the annual report. Our opinion on the financial statement5 does not
cover the other information and, except to the extent otherwise explicitly stated in our report, we
do not express any form of assurance ¢onclusion thereon. Our responsibility is to read the other
information and. in doing $0, consider whether the other information is materially inconsistent with
the f inancial statements or our knowledge obtained in the course of the audit, or otherwise appears
to be materially misstated. If we identify such material inconsistencies or apparent material
misstatements. we are required to determine whether this gives rise to a material misstatement in
the financial statements themselves. If, based on the work we have performed. we conclude that
there is a material misstatement of this other information, we are required to report that fact.
16

Docusign EnvelOPP ID.. 40AOEE4b.84414rug.tIA71.2BeADZP2D706
UK MUSIC MASTERS LTD.
(A COMPANY LIMITED BY GUARANTEE)
INDEPENDENT AUDITORS, REPORT TO THE TRUSTEES
FOR THE YEAR ENDED 31 AUGUST 2021 (continued)
We have nothing to report in this regard.
Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit..
the information given in the trustees, report. which includes the direclors, report prepared
for the purposes of company18w, for the financial year for which the f inancial statements
are prepared is consistent with the financi81 statements. and
the directors, report included within the trustees, report has been prepared in accordance
with applicable legal requirements.
Matters on whi¢h we are required to report by exception
In the light of the knowledge and understanding of the charitable company and its environment
obtained in the course of the audit, we have not identified material misstatements in the directors.
report included within the trustees, report.
We have nothin9 to report in respect of the following matters in relation to which the Companies
Act 2006 requires us to report to you if, in our opinion-
adequate 8ccounting records have not been kept, or returns adequate for our audit have not
been received f rom branches not visited by us. or
the f inancial statements are not in agreement with the accounting records and returns. or
certain disclosures ol trustees, remuneration specified by law are not made; or
we have not received all the information and explanations we require for our audit. or
the trustees were not entitled to prepare the financi81 statements in a¢¢ordance with the
small companies regime and take adv8nta9e of the small companies, exemptions in
preparing the trustees, report 8nd from the requirement to prepare a strategic report.
Responsibilities of trustees
As explained more fully in the trustees, responsibilities statement. the trustees (who are also the
directors of the charitable company for the purposes of company lawl are responsible for the
preparation of the financial statements and for being satisfied that they give a true ond fair view,
and for such internal control as the trustees determine is necessary to enable the preparation of
f inan¢ial statements that are free from material misstatement, whether due to f raud or error.
In preparing the financial statements. the trustees are responsible for assessing the Charitable
company's ability to ¢ontinue as a 90in9 concern, disclosing, as applicable. matters related to going
concern and using the 90in9 concern basis of accountin9 unless the trustees either intend to
liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.
Auditor's responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a
whole are free f rom material misst8tement, whether due to fraud or error, and to issue an auditor's
report that includes our opinion. Reasonable assurance is a high level of assurance but is not a
guarantee that an audit conducted in accordance with ISAS (UK) will always detect a material
misstatement when it exists. Misstatements can arise f rom f raud or error and are considered
17

UoGuSun Enve￿p& ID.. 4QADE￿4￿.e4414Io9.BA7T.28￿Au2￿2￿705
UK MUSIC MASTERS LTD.
(A COMPANY LIMITED BY GUARANTEE)
INDEPENDENT AUDITORS, REPORT TO THE TRUSTEES
FOR THE YEAR ENDED 31 AUGUST 2021 (continued)
material if, individltally or in the aggregate, they could reasonably be expected to influenea the
economic decisions of users taken on the basis of these financial statements.
A further description of our responsibilities for the audit of the financial statements is located on the
Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description
forms part of our auditor's report.
Exlent to which the audit was Considered capable of detecting irregularities. including f r8ud
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We
design procedures in line with our responsibilities, outlined above and on the Financial Reportin9
Council's website. to detect material misstatements in respect of irregularities, in¢luding fraud.
We obtain and update our understanding of the entity, its activities, its control environmenl, and
likely future developments, including in relation to the legal and regulatory f ramework applicable
and how the entity is complying Wlth that framework. Based on this understanding, we identify and
assess the risks of material misstatement of the financial statements, whether due to f raud or error.
design and perform audit procedures responsive to those risks. and obtain audit evidence that is
sufficienl and appropriate to provide a basis for our opinion. This includes consideration of the risk
of acts by the entity ihat were contrary to applicable laws and regulations. includin9 f raud.
In response to the risk of irregularities and non-compliance with laws and regulations, including
fraud, we designed procedures which included:
Enquiry of man8gement and those char9ed with governance around actual and potential
litigation and claims as well as actual, suspected and alleged fraud.
Reviewing minutes of meetin9s of those ch8rged with governance.
Assessing the extent of compliance with the laws and regulations considered lo have a direct
materi81 effect on the financial statements or the operations of the ch8rit8ble comp8ny
through enquiry 8nd inspection.
Reviewing financial statement disclosures and testing to supporting documentation to
assess compliance with applicable laws 8nd regulations.
Performing audit work over the risk of management bias and override of controls, including
testing of journal entries and other adjustments for appropriateness, evaluating the business
rationale of significant transactions outside the normal course of business and reviewin9
accounting estimates for indicators of potential bias.
Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities,
includin9 those leading to a material misstatement in the financial statements or non-compliance
with regulation. This risk increases the more that ¢ompliance with a law or re9ulation is removed
f rom the events and transactions reflected in the f inancial statements. as we will be less likely to
become aware of instances of non-compliance. The risk of not detectin9 a material misstatement
resulting from fraud is hi9her than for one resulting from error, as fraud may involve collusion,
forgery, intentional omissions, misrepresentations, or the override of internal control.
18

DocuSi9n Env8lope10.' 40AL)&&4￿34474705-BA7T.28EA02￿2OTl
UK MUSIC MASTERS LTD.
(A COMPANY LIMITED BY GUARANTEEI
INDEPENDENT AUDITORS, REPORT TO THE TRUSTEES
FOR THE YEAR ENDED 31 AUGUST 2021 Icontinuedl
Use of our report
This report is made solely to the charitable company's members. as 8 body. in accordance with
Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we
might state to the charitable ¢ompany's members those matters we are required to state to them in
an auditor's report and for no other purpose. To the f ullest extent permitted by law, we do not
accept or assume responsibility to anyone other than the charitable company and the charitable
¢ompany's members as a body> for our audit work, for this report, or for the opinions we have
formed.
Michelle Wilkes (Senior Statutory Auditor}
For and on behalf of Azets Audit Servi¢es
Statutory Auditor
Greytown House
221-227 High Street
Orpington
Kent
BR6 ONZ
Date:
21 December 2021
19

Docusign Envek>pè Iu.. 40ADEE46-¥441-4lU9-ESA7f-28￿A02F2D7Ot>
UK MUSIC MASTERS LTD
(A COMPANY LIMITED BY GUARANTEE)
STATEMENT OF FINANCIAL ACTIVITIES lincluding Income and Expenditure Account)
FOR THE YEAR ENDED 31 AUGUST 2021
Unrestricted
funds
Restricted
funds
Total
2021
Total
2020
Notes
In¢ome and
endowments from:
Donations and le9acies
Charitable a¢tivities
640,110
235,504
203.000
843,110
235.504
934.638
229,951
Investments
115
115
548
Total income and
endowments
875.729
203,000
1,078.729
1,165,137
Expenditure on:
Raisin9 funds
Charitable a¢tivities
231,177
637.831
231,177
858,897
236,469
832.395
221,066
Total expenditure
Net
Incomel(Expenditure)
869.008
221,066
1,090.074
1,068.864
6,721
(18.066)
(11.345)
96,273
Gain on revaluation of
Pro9ramme Related
Investments
23,802
23,802
Net movement in funds
Total funds brought
forward 1 September
2020
30,523
(18.066)
12,457
96,273
517,470
29,908
547,378
451,105
Total funds carried
forward 31 August 2021
547.993
11,842
559,835
547,378
The statement of financial activities includes a1198ins and losses reco9nised in the year.
All income and expenditure derive f rom continuing activities.
20

L)ocuSign Envelope ID.. 40ADEE4¥.84414709_IIA T7_2tj￿AD2F2￿7fj6
UK MUSIC MASTERS LTD.
IA COMPANY LIMITED BY GUARANTEE)
STATEMENT OF FINANCIAL ACTIVITIES lincluding Income and Expenditure Account)
FOR THE YEAR ENDED 31 AUGUST 2021 (¢ontinued)
Comparative Information for the Statement of Financial Activities for year ended 31 August 2020
Notes
Unrestricted
funds
Restricted
funds
Total
2020
Income and endowments
from:
Donations and legacies
Charitable activities
595,183
229,951
339,455
934,638
229,951
Investments
548
548
Total income and
endowments
825,682
339,455
1,165,137
Expenditure on:
Raising f unds
Charitable activities
236.469
508,279
236.469
832,395
323,686
Total expenditure
745,178
323,686
1,068,864
Net movement in funds
Total funds brought
forward 1 September 2019
80.504
15,769
96.273
436.966
14.139
451,105
Total f unds carried
forward 31 August 2020
517,470
29,908
547,378
21

Uocusign envelope ID.. 40ADEE46.844147D9_BA77_28EAD2P2U106
UK MUSIC MASTERS LTD.
(A COMPANY LIMITED BY GUARANTEE)
BALANCE SHEET
AS AT 31 AUGUST 2021
2021
2020
Notes
Fixed assets
Social investm@nts
Tangible assets
Intangible assets
177,923
3,771
1,689
183.383
130,550
4,893
2,956
138,399
Current assets
Debtors
Cash at bank and in hand
82,670
528,811
61,946
510,998
611,481
S72.944
Creditors-
Amounts falling due within
one ye8r
10
235.029
163.965
Net current assets
376,452
408,979
Total assels
559,835
547,378
Income funds
General unrestricted funds
12
245,560
380,551
Designated f unds
Restri¢ted funds
12
302,433
136,919
13
11,842
29.908
14
559,835
547,378
The notes on pages 24 to 34 form part of these financial statements.
The financial statements were approved by the trustees on 9 December 2021 and signed on their
behalf
by.
FYuL(4
8F7
Imon Preatley
Chairman
Company number 6226749 IEngland and Wales)
22

Docusign Envèlope ID. 4oADEk46-8441470￿ESA77-21I￿02F2DI
UK MUSIC MASTERS LTD.
(A COMPANY LIMITED BY GUARANTEE)
STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 AUGUST 2021
2021
2020
Note
Cash flow f rom operatin9 activities
17
39,766
123.035)
Cash flow f rom investing activities
Payments to acquire tangible f ixed assets
Payments to acquire social investments
Interest received
11,5361
120,532)
115
(5,139)
(20,242)
548
Net cash flow from investing activities
{21.953)
(24,833)
Net increase in cash and c8sh equivalents
17,813
147,868)
Cash and cash equivalents at 1 September
510.998
558,866
Cash and cash equivalent5 at 31 August
528,811
510.998
Cash and cash equiv81ents consist of:
Cash at bank and in hand
Short term deposits
145,730
383,081
203,019
307.979
Cash and cash equivalents at 31 August
528,811
510,998
23

ocuSign enveioptr ID. 40A￿￿￿4￿-84414709-8A7l-28￿ADZF2D7o6
UK MUSIC MASTERS LTD.
(A COMPANY LIMITED BY GUARANTEE}
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2021
Accounting policies
Basis of preparation
UK Music Masters Ltd is a company limited by guarantee in the United Kingdom. In the
evenl of the charitable company being wound up, the liability in respect to the guarantee is
limited to £1 per member of the charitable company. The address of the reglstered offi¢e is
given in the charity information on page 1 of these f inancial statements. The nature of the
charitable company's operations and principal activities are set out on pages 4 and S.
The charity constitutes a pvblic benefit as defined by FRS 102. The financial statements have
been prepared in accordance with Ac¢ountirig and Reporting by Charities: Statement of
Recommended Practice applicable to charities preparing their account in accordance with
Financial Reportin9 Standard applicable in the UK and Republic of Ireland (FRS 102), the
Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland IFRS
102), the Charities Act 2011, the Companies A¢t 2006 and UK Generally Accepted Practice.
The f inancial statements are prepared on a goin9 concern basis under the histofical cost
convention, modified to include certain items at fair value. The financial statements are
prepared in sterling which is the functional Currency of the charity.
The si9nificant a¢¢ounting policies applied in the preparation of these financial statements
are set out below. These policies have been consistently applied to all years presented
unless otherwise stated.
Funds accountin9
Unrestricted general funds
these 8re funds which can be used in accordanee with the
charitable objects at the discretion of the trustees.
Restricted funds - these represent the balance of funds donated for specific purposes which
remain unspent at the balance sheet date.
Designated funds
these are unrestricted funds which have been set aside by the Trustees
for future purposes.
Incorne recognition
All income is included in the Statement of Financial Activities (SOFA} when the charity is
legally entitled to the income after any performance conditions have been met, the amount
can be measured reliably and it is probable that the income will bo received.
Voluntary income including donations and gifts is included in full in the SOFA when
receivable. Income from charitable activities is matched to the timing of the activities.
Investment income 15 recognised usin9 the effective interest method.
Expenditure Recognition
All expenditure is accounted for on an accruals basis and has been ¢lassified under headings
that aggregate all costs related to the Category. Expenditure is reco9nised where there is a
legal or constructive obligation to make payments to third parties, it is probable that the
settlement will be required and the amount of the obligation can be measured reliably. It is
C8tegorised under the following headings:
Costs of raisin9 f unds are those costs incurred in attracting voluntary income.
Charitable expenditure comprises those ¢osts incurred by the charity in the
24

Docusign Envelope ID.. 40ADEE46-8441-4709-BA77-28EAD2F20706
UK MUSIC MASTERS LTD.
(A COMPANY LIMITED BY GUARANTEE)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2021 (continued)
delivery of its activities and services for its beneficiaries. It inclvdes both costs
allocated directly to such activities and those costs of an indirect nature necessary
to support them.
Programme related investments
Programme related investments are soci81 investments made directly in pursuit of the
charity's charitable purposes. Musical instruments held as part of Music Masters Learnin9
and loaned to pupils are held at the lower of replacement C05t or the charity's own valuation.
Their condition is assessed annually and full provision is made for any repairs or maintenance
required.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost less depreciation. The cost of minor addilions below
£500 is not capitalised. Depreciation is provided at rates calculated to write off the cost less
estimated residual value of each 8sset over its expected useful life. as follows:
Compuler equipment
Fixtures. fittings & equipment
33Yo Straight line
33% strai9ht line
Intangible f ixed assets
Intan9ible fixed assets represent costs for the development database. Amortisation is
provided at rates calculated to write off the cost less estimated residual value over their
expected useful lives, as follows:
Databases
20% straight line
Debtors and creditors receivable / payable within one year
Debtors and creditors with no stated interest rate and receiv8ble or payable within one year
are recorded at transaction price. Any losses arising from impairment are recognised in
expenditure.
Taxation
The charity is an exempt charity within the meaning of schedule 3 of the Charities Act 2011
and is therefore considered to pass the tests set out in Paragraph 1 Schedule 6 Finance Act
2010 and therefore it meets the def inition of a ¢haritable company for UK corporation tax
services.
1.10
Accumulated funds
Unrestricted funds are donations and other incomin9 resources receivable tor the objects of
the charity without further specific use and are available as general funds.
Restricted funds are subject to specific conditions by donors as to how they may be used.
Expenditure which meets these criteria is charged to the relevant fund.
1.11
Going concern
The trustees have considered the continuing impact of the COVID-19 virus on the future
Vlability of the charitable comp8ny* the level of funds held and the expected level of in¢ome
and expenditure for 12 months from authorisation of these financial statements. The
budgeted income and expenditure is suff i¢ient with the level of resources for th8 charitable
company to be able to continue as a going concern.
25

i)acuSign ￿nvelOpe 11).. 40ADEE4￿￿44l4709.6ATl.28EAu2￿2D706
UK MUSIC MASTERS LTD.
(A COMPANY LIMITED BY GUARANTEE)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2021 (¢ontinued}
At the time of approvin9 the f inancial statements the trustees have a reasonable expectation
that the charitable company has adequate resources lo continue in operational existence for
the foreseeable future. Thus, the trustees ¢ontinue to adopt the goin9 concern basis of
accounting in preparing the financial statements.
1.12
Judgements and key sour¢es of estimation uncertainty
Accounting estimates and judgements are continually evaluated and are based on historical
experience and other factors, including expectations of future events thal are believed to be
reasonable under the circumstances.
The following judgements (apart f rom those involving estimates) have been made in the
process of applyin9 the above accounting policies that have had the most significant effect
on amounts recognised in the f inan¢ial statements:
Bad debt provision
bad debts are provided for specific debts when required and an
estimate of unrecoverable debts may be made if deemed necessary
Social investments
valuation.
social investments are included at the lower of replacement ¢ost or
There are no other key assumptions concerning the future and other key sources of
estimation uncertainty at the reporting date that have a significant risk of causin9 8 material
adjustment to the carryin9 amounts of assets and liabilities within the next financial year.
Voluntary income
Unrestricted
Funds
Restricted
Funds
Total
2021
Total
2020
Donations and legacies
Gift aid recoverable
611,639
28,471
190,500
12,500
802,139
40.971
887,879
46,759
640,110
203.000
843,110
934.638
Income from Charitable activities
Schools Programme
235,504
235,504
229.951
26

t)ocuSign ￿nvelOpe ID.. 40ADEÈ46.84414705_8A77.211￿AD2F2D10fj
UK MUSIC MASTERS LTD.
(A COMPANY LIMITED BY GUARANTEE)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2021 (continued)
Expenditure
Direct
Costs
Support
Costs
Total
2021
Total
2020
Charitable expenditure
Raising funds
Charitable activities
184,361
706.746
891,107
46,816
152,151
198,967
231.177
858,897
1,090,074
236.469
832,395
1,068,864
Direct Costs - Raising Funds
Advertisin9 & marketing
Event expenses
Fundraising expenses
Fundraising expenses
10.646
9,656
5,942
158,117
14.111
25,947
7,799
148,784
staff costs
184,361
196,641
Direct Costs
Project costs
Staff costs
Charitable Activities
393,926
312.820
381,612
291,472
706.746
673,084
Support Costs
Staff costs
Rent and rates
Trainin9
Off ice costs
Insurance
IT support
Equipment maintenan¢e
Accountancy and payroll services
Travel expenses
Bank charges
Depreciation
Amortisation
Loss on sale of social investments
Governance Costs -Legal fees
Governance costs - Auditors, fee
Governance costs - other
144,118
17,340
2,466
9.825
3,054
2,154
1,940
600
293
253
2,658
1.267
1,492
4,647
6.260
600
198,967
137,408
21,346
968
17.488
2,784
3,507
2,017
360
1,120
205
1,829
1,266
767
559
6.120
1,395
199,139
27

Docusign envelope10.' 40AOE&4b_84414709.6A77.28EAL)2F2￿706
UK MUSIC MASTERS LTD.
IA COMPANY LIMITED BY GUARANTEE)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2021 Icontinued)
Employees
Number of employees
The average monthly head count of employees lexcludin9 trustees) durin9 the year was 13.1
(2020: 12.3) and the average monthly number of full-time equivalent employees (including
part-time staff) during the year were as follows..
2021
Number
2020
Number
Music Masters Learnin9
Development
Governance and administration
13
13
Total
2021
Total
2020
Staff costs
Wages and salarie$
Tax and social security costs
Pension contributions
543,196
38,959
21,170
500,37S
49,387
19,570
603.325
569.332
Other staff costs
11.730
8,332
Total staff costs
615,055
577.664
No employees were paid more than £60,000 in the year12020.- none).
None of the trustees lor any persons connected with them) received any remuneration or
expenses durin9 the year12020.' none). Pension costs are allocated to activities in proportion
to the related staffing costs incurred.
The Charity trustees were not paid nor did they receive any other benefits from employment
with the charity in the year (2020- none).
The total remuneration paid to key management, including employers, nation81 insurance
and pension eontributions was £203.093 (2020.. £197.5791. The charity considers its key
management personnel to comprise those individuals listed on pa9e 1.
28

Docusign &nvèiope 10.. 4oAD￿E4b-{j44147o9IIA77-28￿AO2￿2D7ob
UK MUSIC MASTERS LTD.
(A COMPANY LIMITED BY GUARANTEEI
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2021 (continued)
Social Investments
The charity loans instruments to pupils as part of Music Masters Learning activities.
Total
2021
Total
2020
Value brought forward at 1 September 2020
Additions in the year at cost
Disposals in the year at cost
Revaluation
Provision for Impairment
Value carried forw8rd Èt 31 August 2021
130,550
20,532
(2.001)
23,802
5,040
177,923
116,325
20,242
{977)
(5.040)
130,550
Tangible Fixed Assets
Fixtures.
Fittings &
Equipment
Computer
Equipment
Total
Cost
As 8t 1 September 2020
Additions
At 31 Aljgust 2021
4.393
15,018
1,536
16,554
19.411
1,536
4.393
Depreciation
As at 1 September 2020
Ch8rge for year
At 31 August 2021
3,420
398
3,818
11,098
2,260
13.358
14.518
2,658
17,176
Net book value
At 31 August 2021
575
3,196
3,771
At 31 August 2020
973
3,920
4,893
29

L)ocu51gn ￿nVelope ID. 40AUEE46-84414709-8A 77-28EAD2F20706
UK MUSIC MASTERS LTD.
(A COMPANY LIMITED BY GUARANTEE)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2021 (continued)
Intangible Fixed Assets
Development
database
Cost
As at 1 September 2020
At 31 August 2021
6,334
6.334
Amortisation
As at 1 September 2020
Charge for year
At 31 Au9USt 2021
3,378
1.267
4,64S
Net book value
At 31 August 2021
1,689
At 31 August 2020
2,956
Debtors
2021
2020
Trade debtors
Other debtors
Prepayments
A¢¢rued income
26,705
58
6.786
49,121
36.948
6,344
18,654
82,670
61,946
io
Creditors
2021
2020
Amounts falling due within one year:
Trade creditors
Other creditors
Accruals
Deferred income (note 11)
9.540
18,235
59,754
147.500
28,302
55,547
50,116
30.000
235,029
163,965
30

Docusign Envelope ID.. 40ADEE4&114414TD9-BA77-28EAD2F2D706
UK MUSIC MASTERS LTD.
(A COMPANY LIMITED BY GUARANTEE)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2021 (continued)
li
Deferred Income
2021
2020
Deferred income at 1 September
Released from previous years
Amounts deferred in the year
30,000
230,000
(30,000) 1230,000)
147,500
30,000
30,000
147.500
12
Unrestricted Funds
At1
September
2020
Income Expenditure
Transfers &
Revaluations
At31
August
2021
General Fund
380.551 875,729
869,008
(141,712) 245,560
Designated
-Learning
-Fixed Asset
136.919
117,8691 119,050
183,383 183.383
517,470 875,729
869,008
23,802 547.993
The desi9nated funds are described in further detail on page 11.
13
Restricted Funds
At1
September
2020
Income Expenditure Transfers
At31
August
2021
Fund:
Learning
11.960
53,000
64,960
PGCEI
17.948
150,000
156,106
11,842
29,908 203.000
221,066
11,842
Music Masters Learning
This comprises restrictions to teaching activities in our partner s¢hools' learning
performances and tutor training. Incomin9 resources to the f und came f rom the following
donors:
31

Dotsusign Envelts￿ ID.. 40ADEÈ4b-6441-4709-IIA71-28eADZFZD7Vti
UK MUSIC MASTERS LTD.
{A COMPANY LIMITED BY GUARANTEE)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST2021 Icontinued)
Bi9 Give, Buffini Chao Foundation, the Nugee Foundation and the Ashley Family
Foundation
Team Teach: PGCEI
This includes f unding towards the cost of running and developing the PGCEI qualification
for teachers. Incoming resources to this f und Came f rom the following donor5'.
Karlsson Jatlvo Charitable Foundation- The Rachel Baker Memorial Charity and a major
donor who wishes to remain anonymous.
Restricted Funds comparative information
At1
September
2019
Income Expenditure Transfers
At31
August
2020
Fund:
Learning
PGCEI
6.347
119,455
113.842
11,960
7,792 220,000
209,844
17.948
14,139 339,455
323.686
29,908
Music Masters Learning
This comprises restrictions to teaching activities in our p8rtner schools- learnin9
performances,. tutor training; evaluation 8nd feasibility work on the development of new
income streams from expanding our existing activities. Incomin9 resources to the fund came
from the following donors:
Bi9 Give. Buffini Chao Foundation- Hyde Park Estates Charity. The Mercers, Company.
Segelman Trust 8nd John Thaw Foundation.
PGCEI
This includes f unding towards the cost of establishing. validating and launching the PGCEI
qualif ication for teachers. Incoming resources to this fund came f rom the following donors..
Emmanuel Kaye Foundation. Karlsson Jativa Charitable Foundation. The Rachel Baker
Memorial Charity and The Linbury Trust as well as a major donor who wishes to rem8in
anonymous.
32

Oocusign knv8lop8 Iu." 40A￿￿￿4￿e44l47Oy￿A T7-28EAU2F20706
UK MUSIC MASTERS LTD.
(A COMPANY LIMITED BY GUARANTEE)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2021 (continued)
14
Analysis of net assets by funds
Unrestricted
Funds
Designated
Funds
Restricted
Funds
Total 2021
Fund balances at 31 Au9USt
2021 are represented by-
Social investments
Tangible fixed assets
Intan9ible fixed assets
Current assets
Creditors
177.923
3,771
1.689
119,050
177,923
3.7n
1,689
42,947
611,481
131,105) (235.029)
11.842
559.835
449,484
(203,9241
245,560
302,433
Analysis of net assets by funds ¢omparative information
Unrestricted
Funds
Designated
Funds
Restricted
Funds
Total
2020
Fund balances at 31 August
2020 are represented by:
Social investments
Tangible fixed assets
Intangible fixed assets
Current assets
Creditors
130,550
4,893
2.956
374,689
(132,537)
380,551
130.550
4,893
2,956
61,336
572,944
131,428) 1163,965)
29,908
547,378
136,919
136,919
15
Operatin9 leases
At 31 Au9USt 2021. the charity had 8nnual commitments under non-¢ancellable leases as
follows=
2021
2020
Land and Buildings:
Not later than one year
Later than 1 year and not18ter than five
years
20,000
21,666
20,000
41,666
41,666
61,666
33

Docusign ￿n¥*￿Trpe ID." 4OADEe46-84414709-BA77-28EAL)2P2D706
UK MUSIC MASTERS LTD.
(A COMPANY LIMITED BY GUARANTEE)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2021 Icontinuedl
16
Related party transactions
During the year ended 31 August 2021 the charity received £282.712 (2020.. £338.725) in donations
and incurred £nil (2020.. £nil) in costs reimbursed to trustees, close members of 8 trustee's family or
organisations controlled by trustees.
No trustee expenses were reimbursed during the year12020: £nil). No charity trustee received
payments for professional or other services supplied to the ¢harity12020: nil).
17
Reconciliation of net income to net cash flow from operating activities
2021
2020
Net income/{expenditure) for the year
Interest receivable
Depreciation and impairment of tangible fixed assets
Amortisation and impairment of intan9ible fixed assets
Impairments on social investments
Cost of investments disposed of in year
(Increase)/decrèase in debtors
Increase/ (decrease) in creditors
{11.345}
(1151
2,658
1,267
15.040)
2,001
(20,724)
71,064
96,273
15481
1,829
1,266
5.040
977
113.912)
(113,960)
Net cash flow from operating activities
39,766
123,035}
34