REGISTERED CHARITY NUMBER: 1120716 REPORT OF THE TRUSTEES AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 FOR BLACKPOOL MUSIC SCHOOL Rushtons Chartered Accountants Avroe House Avroe Crescent Blackpool Business Park Blackpool Lancashire FY4 2DP
BLACKPOOL MUSIC SCHOOL CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Page Report of the Trustees Independent Examinerfs Report Statement of Financial Activities Balance Sheet Notes to the Flnancial Statements 7 to 11 Detailed Statomant of Financial Activities 12 to 13
BLACKPOOL MUSIC SCHOOL REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024 The trustees present their report with the financial ststements of the charity for the year ended 31 March 2024. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019). OBJECTIVES AND ACTIVITIES Objectives and aims To advance the musical education of the public at large. Serving all the community of all ages and abilities. BMS provides lessons, group classes. project work and student perfomiances. ACHIEVEMENT AND PERFORMANCE Charitable activities The charity believes that it has fulfilled its objectives, with the support of grants received. It hopes that the current year provides the services to even a greater number of individuals. The charty has completed an inventory of purchased and donated instruments and music equipment, this has not b8en included in the accounts. but the value of these items is £42,256. We benefited students leaming from donations given by Beaver Brooks Charitable trust who are offering ongoing support. We have increased our student numbers and have increased the number of graded exams taken. We have retained a grant writer for the time being but as the manager increases her knowledge of grant applications this will reducel stop. Projects currently running. -RSL Guitar group originally started from a grant given by the poli commissioner but has continued. Group guitar for children or adult with the intention of achieving grading. -Rock Star Project - for advanced teenage students. We now have 4 bands and also 1 adult guitarl drum band that will participate in live events. -Helping the Community With Music A project funded by the National Lottery, which provides cooked meals and entertainment once a week for people in the community looking to socialize and enjoy music with other people. This includes some people with carers that benefit from enjoying music wilhout judgment. We have increased promoting the school through social media, which includes our website, Facebook, Instagram and You tube. Plus, additional advertising for any new projects. FINANCIAL REVIEW ReseNes policy The trustees aim to keep the reserves of the charity sufficient to cover six months of resource. The charity currently operates with minimal reserves, with no specific inv8Stments other than bank accounts. The trustees will try to increase the level of reserves. It will also, through advertising, social media, increase students into the school. The charity nomally has an annual Variety Show fund raiser in winter temi. Page 1
BLACKPOOL MUSIC SCHOOL REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024 FUTURE PLANS We will be revisiting the Breathe Easy project as the Covid pandemic meant We were unable to complete the project fiJlly. The aim is to encourage those with breathing issues (COPD, Asthma etc). to use the aerophone go instruments. leaming saxophone but helping control breathing therefore making their condition improve. We need a nursel doctor to monitor improvements in breathing and lung capacity that the students make. We will continue with Helping the Community with Music by applying for another grant as this has proved a very popular project and is full each week. Local entertainers and the community benefit from this. We will be looking into providing schools with music daysl lesson oplions lo ensure awareness in the charity and music lesson options are maintained. Due to the increase of sludents. we are looking to soundproof an additional 2 rooms so we can take on additional bjtors and students as we are almost full but are still getting a large amount of enquiries. Finally, the main project we would like to start is a music career plan. The project would be to show and teach students how to perform live, how to book gigs. how to set up the sound system, insurance you need, how to secure payments from gigs, taking grading to get to tutor level, possible options of working in the music sector. We will have workshopsl specialist tslks on specific subjects. The purpose is to ensure that Ihose wanting music as a career know how to make a living from it increasing the likelihood of those that may have limited qualifications leaving school can still earn a comfortable salary in an area they enjoy. We will write up the project in detail and apply for a grant. STRUCTURE. GOVERNANCE AND MANAGEMENT Governlng document Blackpool Music School was constituted by a Dedaration of Trust dated 11th July 2007. REFERENCE AND ADMINISTRATIVE DETAILS Registered Charlty numbar 1120716 Principal address 420 WaterkK) Road Blackpool Lancashi FY4 4BL Trustees JTShaw B Clemson J Herkowyi E Chrisliano PGSmith R Ramsey N Breakell J Mcalpine H Griffiths {appointed 24.10.23) K Cruden (appointed 24.10.23) N P Whiteside (appointed 21.10.23) Page 2
BLACKPOOL MUSIC SCHOOL REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024 REFERENCE AND ADMINISTRATIVE DETAILS Independent Examiner Rushtons Chartered Accountants Avroe House Avroe Crescent Blackpool Business Park Blackpool Lancashire FY4 2DP Approved by order of the board of trustees on behalf by: and signed on its aw - Trustee Page 3
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF BLACKPOOL MUSIC SCHOOL Independent examinerfs report to the trustees of Blackpool Muslc School I report to the charity trustees on my examination of the accounts of Blackpool Music School (the Trusl) for the year ended 31 March 2024. Responsibilities and basls of report As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 {'the Act,). I report in respect of my examination of the Trust's accounts carried out under Section 145 of the Act and in carrying out my examination I have followed all applicable Directions given by the Charity Commission under Section 145(5)(b) of the Ad. Independent examiner's statement I have completed my examination. I confim that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect: accounting records were not kept in respect of the Trust as required by Section 130 of the the accounts do not accord with those records. or the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities {Accounts and Reports) Regulations 2008 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. I have no concems and have come across no other matters in connection with the examination to which attention should be drawn in Ihis report in order to enable a proper understanding of the accounts to be reached. C Calvert Rushtons Chartered Accountants Avroe House Avroe Crescent Blackpool Business Park Blackpool Lancashire FY4 2DP Date: . Page 4
BLACKPOOL MUSIC SCHOOL STATEMENT OF FINANCIAL ACTivrriES FOR THE YEAR ENDED 31 MARCH 2024 2024 Total funds 2023 Total funds Unrestricted Restricted funds funds Notes INCOME AND ENDOWMENTS FROM Donations and legacies 5.092 10,000 15.092 18,407 other trading activities 55,403 55.403 44.940 Total 60,495 10,000 70,495 63,347 EXPENDITURE ON Raising funds 64,382 7,159 71,541 68,523 Other 7.596 7,596 Totsl 71,978 7,159 79,137 70,569 NET INCOMEI(EXPENDITURE} (11,483) 2.841 (8,642) {7,222) RECONCILIATION OF FUNDS Total funds brought forward 28,897 28,897 36,119 TOTAL FUNDS CARRIED FORWARD 17.414 2,841 20.255 28,897 The notes form part of these financial statements Page 5
BLACKPOOL MUSIC SCHOOL BALANCE SHEET 31 MARCH 2024 2024 Total funds 2023 Total funds Unrestricted Restricted funds funds Notes FIXED ASSETS Tangible assets 9,247 9,247 12,329 CURRENT ASSETS Debtors Cash at bank and in hand 8,910 90 887 2,633 9,797 2,723 11,161 6,015 9,000 3,520 12.520 17,176 CREDITORS Amounts falling due within one year (833) {679) (1,512) (608) NET CURRENT ASSETS 8,167 2,841 11,008 16,568 TOTAL ASSETS LESS CURRENT LIABILITIES 17,414 2,841 20,255 28,897 NET ASSETS 17,414 2,841 20.255 28,897 FUNDS Unrestricted funds Restricted funds 10 17,414 2,841 28.897 TOTAL FUNDS 20,255 28,897 ts were approved by the Board of Trustees and authorised for issue on . and were signed on its behalf by: aw- Trustee B Clemson - Trustee The notes form part of these financial statements Page 6
BLACKPOOL MUSIC SCHOOL NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 ACCOUNTING POLICIES Basls of preparing the flnancial statements The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charilies SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)., Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland, and the Charities Act 2011, The financial statements have been prepared under the historical cosl convention. All monetary values in the accounts are presented in Sterling and all amounts are rounded to the nearest pound. Income All income is recognised in the Statement of Financial Activities On the charity has entitlement to the funds, it is probable that the income will be reiVed and the amount can be measured reliably. Expenditure Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation comrnitting the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and Éhe amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related lo the category. Where costs cannot be directly attributed to particular headings they have been allocaled to activities on a basis consistent with the use of resources. Tangible flxed assets Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life. Plant and machinery 25Yo on reducing balance Taxation The charity is exempt from tax on its charitable activities. Fund accounting Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees. Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds ar8 raised for particular restricted purposes. Page 7 continued...
BLACKPOOL MUSIC SCHOOL NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 MARCH 2024 OTHER TRADING ACTNrriES 2024 2023 Fundraising events Student fees 456 54,947 290 44,650 55,403 44.940 RAISING FUNDS Raising donatlons and legacles 2024 2023 Support costs 25,529 24,431 TRUSTEES. REMUNERATION AND BENEFITS There were no trustees, remuneration or other benefits for the year ended 31 March 2024 nor for the year ended 31 March 2023. Trustees. expenses There were no trustees, expenses paid for the year ended 31 March 2024 nor for the year ended 31 March 2023. COMPARATWES FOR THE STATEMENT OF FINANCIAL ACTIVITIES Unrestricted Restricted funds funds Tolal funds INCOME AND ENDOWMENTS FROM Donations and legacies 18.407 18,407 Other trading activities 44,940 44,940 Total 63,347 63,347 EXPENDITURE ON Raising funds 66,393 2,130 68,523 Other 1,397 649 2,046 Total 67.790 2,779 70,569 NET INCOMEI{EXPENDITURE) Transfers between funds (4.443) (147) {2,779) 147 (7,222) Net movement in funds (4,590} {2,632) (7,222) Page 8 continued...
BLACKPOOL MUSIC SCHOOL NOTES TO THE FINANCIAL STATEMENTS- contlnued FOR THE YEAR ENDED 31 MARCH 2024 COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued Unrestricted Restricted funds funds Total funds RECONCILIATION OF FUNDS Total funds brought foNiard 33,487 2.632 36,119 TOTAL FUNDS CARRIED FORWARD 28.897 28.897 TANGIBLE FIXED ASSETS Plant and machinery COST At 1 April 2023 and 31 March 2024 17,971 DEPRECIATION At 1 April 2023 Charge for year 5.642 3.082 Al 31 March 2024 8,724 NET BOOK VALUE At 31 March 2024 9,247 At 31 March 2023 12,329 DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2024 2023 Other debtors 9,797 11,161 Page 9 continued...
BLACKPOOL MUSIC SCHOOL NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024 CREDrroRS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2024 2023 Bank loans and overdrafts (see note 9> Other creditors 90 518 1,422 1,512 608 LOANS An analysis of the maturity of loans is given below: 2024 2023 Amounts falling due within one year on demand: Bank overdrafts 10. MOVEMENT IN FUNDS Net movement in funds At 31.3.24 At 1.4.23 Unrestrlctsd funds General fund 2&897 (11,483) 17,414 Restrlcted funds Lottery 2,841 2,841 TOTAL FUNDS 28.897 {8,642) 20,255 Net movement in funds, included in the above are as follows: Incorning resources Resources Movement expended in funds Unrestricted funds General fund 60,495 (71,978) (11,483) Restricted funds Lottery 10,000 (7,159) 2,841 TOTAL FUNDS 70,495 (79,137) (8,642) Pag8 10 continued...
BLACKPOOL MUSIC SCHOOL NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 MARCH 2024 10. MOVEMENT IN FUNDS - continued Comparatives for movement in funds Net movement in funds Transfers between nds At 31.3.23 At 1.4.22 Unrestricted funds General fund 33,487 {4,443) (147) 28,897 Restricted funds Vera Wolstencroft Fund 2.632 (2.779) 147 TOTAL FUNDS 36,119 (7,222) 28.897 Comparative net movement in funds, induded in the above are as follows: Incoming ReSoUrS Movement resources expended in funds Unrestricted funds General fund 63,347 (67,790) (4.443) Restricted funds Vera Wolstencroft Fund (2.779) (2,779) TOTAL FUNDS 63,347 (70,569) {7,222) 11. RELATED PARTY DISCLOSURES Other debtors includes money owed from Blackpool Music Academy CIC, of which the Twstees are Directors, totalling £9.797 (2023: £11,161). Page11
BLACKPOOL MUSIC SCHOOL DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2024 2024 2023 INCOME AND ENDOWMENTS Donations and legacies Donations Grants 4,092 11,000 5,120 13,287 15,092 18,407 Other trading activities Fundraising events Sludent fees 456 54,947 290 44.650 55.403 44,940 Total incoming resources 70,495 63,347 EXPENDITURE Other trading activities Tutor fees and exams Instrument Repairs Entertainment for all Project Expenses Bank interest 38,379 2,974 36,921 897 2,130 4,158 (14) 4,749 {90) 46,012 44,092 Supportcosts Finance Bank charges 309 125 Administrative expenses Rent Support Costs Travel and subsistence General expenses Advertising Plant and machinery 10,300 14,920 366 2,797 144 3,082 11,200 11,248 1,000 1,220 964 31,609 25.632 Governance costs Accountancy and legal fees 1,207 720 This page does not form part of the statutory financial statements Page 12
BLACKPOOL MUSIC SCHOOL DETAILED STATEMENT OF FINANCIAL ACTivrriES FOR THE YEAR ENDED 31 MARCH 2024 2024 2023 Total resources expended 79,137 70.569 Net expenditure (8,642) (7,222) This page dS nol fonn part of the statutory financial statements Page 13