World Heart Beat Music Academy Annual Report 2022 

World Heart Beat Music Academy Limited **[.]** Company Limited by Guarantee Annual Report & Financial Statements – 31 August 2022 

Charity number: 1139579 **[.]** Company number: 06984769 



World Heart Beat | Trustees Annual Report 


## Annual Report 

CEO’s Statement .....................................1 Trustees Annual Report ............................4 Independent Auditor’s Report .............. 31 Statement of Financial Activities .............. 34 Statement of Financial Position ................ 35 Statement of Cash Flows ........................ 37 Notes to the Financial Statements ............ 38 

The trustees, who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 August 2022. 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 2015) 

McKELVIE & CO LLP Chartered accountant 82 Wandsworth Bridge Road London SW6 2TF UK 

COMPANY REGISTRATION NUMBER: 06984769 CHARITY REGISTRATION NUMBER: 1139579 

WHB ANNUAL REPORT & FINANCIAL STATEMENTS 2022 

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World Heart Beat | Trustees Annual Report 

## Chief Executive Officer’s Statement 

_‘No problem can be solved without a creative solution’_ 


I believe wholeheartedly that World Heart Beat has achieved the unimaginable and has become absolutely special and unique, as we strive to become the United Nations of music. 

Our rich diversity and inclusion of young people has created a uniqueness amongst the musical community. Not only do we believe this, but our supporters do too. Patron and legendary jazz musician, Julian Joseph OBE, says: 

_‘World Heart Beat is a place of excellence and joy that embraces a myriad of musical cultures’._ 

Furthermore, our young students tell us frequently how happy they are. As one student says: 

_“World Heart Beat is like a second home to me, it’s my happy place where I feel most comfortable. I wasn’t very confident before but now I love it and I feel like I am developing so much and getting over my fears. World Heart Beat is my lifeline”._ 

This affirmation is echoed all the way through to the community that we serve, Cllr Malcolm Grimston saying: 

_“World Heart Beat is the most remarkable community initiative I have ever seen in my 28 years on the Council, a true jewel in the crown of Wandsworth’s wider offer, bringing opportunity into the lives of children who would otherwise not be able to access the joys of (in this case) active music making”._ 

We teach classical, jazz, Celtic, Asian, all the way through to having young people participate in our Samba and Latin bands through to our New Orleans second line band. 

I stand by these words. World Heart Beat is one of the most remarkable organisations that helps young people to aspire. Our programmes are engaging and relevant; they have a strong focus around quality. 

We believe all children possess sparkles of joy, and that it is our job to add fuel to that. We find that once that _sparkle of joy_ is switched on, there’s no stopping them – which is why young people at World Heart Beat often end up immersing themselves in hours of training and performance, wanting to participate in our community outreach programmes so that they can pass that special joy on to others. 

World Heart Beat is about giving opportunity. Where else do you have 8-year-old disadvantaged child learning on Lang Lang’s piano? Thanks to our wonderful Steinway partnership this is a reality! World Heart Beat is about true levelling up – it’s not something we take lightly. 

World Heart Beat is also about innovation. 

We are not afraid to blueprint ideas and we’re at the forefront of taking those calculated risks. As a result we are installing the UK’s first fully comprehensive d&b soundscape system into our new venue. 

This significant move will enable artists to use the sound system as a factor in their creative process, working with ambience and placement. No other venue can currently offer this. 

Our excellence in teaching and supporting young people with our unique student-centric approach has resulted in student longevity. Our young 

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World Heart Beat | Trustees Annual Report 

people remain with us on average over 7 years, often longer than at school. It is this that excites me, our ability to be able to assess deep data and evaluate the real impact that music has on young lives. 

Many of our young people come with very little. They may have broken families, difficulties in learning or other issues that we hear about, but year in year out, children and young people who engage at World Heart Beat continuously do exceptionally well, whether securing a scholarship at a conservatoire or going to Los Angeles on tour. 

Of course it all takes time and effort, but with the wonderful staff at World Heart Beat – who give continuously – the sheer generosity of our donors, the trusts and foundations who ‘get it’, and our extremely active Patrons and Board, it is achievable. 

Ultimately, it is the young people themselves, who have confidence in our abilities to transform their lives who, at the end of the day, are the real heroes of the World Heart Beat Story. 


James Gero 

Chief Executive Officer 03 August 2023 

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World Heart Beat | Trustees Annual Report 

## Reference and administrative details 

Registered charity name: World Heart Beat Music Academy Limited 

Charity registration number: 1139579 Company registration number: 06984769 

Principal office and registered office: 

45 Gartmoor Gardens, London, SW19 6NX 

The trustees: 

Mrs R van Walsum Mr J Joseph Mrs C Oulton Mr N Bush Mr Z M Quinn Ms J A Sutcliffe Mr K Boateng 

Company secretary: 

Ms Sahana Gero MBE 

## **Auditor:** 

McKelvie & Co LLP Chartered Accountants & Statutory Auditor 

82 Wandsworth Bridge Road, London, UK, SW6 2TF 

Honorary Patrons: Julian Joseph OBE Boris Purushottama Grebenshikov Rezwana Choudhury Bannya 

Key management personnel: 

Ms Sahana Gero MBE (Artistic Director) James Gero (Chief Executive Officer) 

## Trustees’ Responsibilities Statement 

The trustees, who are also directors for the purposes of company law, are responsible for preparing the trustees’ report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). Company law requires the charity trustees to prepare financial statements for each year which give a true and fair view of the state of affairs of the charitable company and the incoming resources and application of resources, including the income and expenditure, for that period. In preparing these financial statements, the trustees are required to: 

- �� select suitable accounting policies and then apply them consistently; 

- �� observe the methods and principles in the applicable Charities SORP; 

- �� make judgments and accounting 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 business. 

The  trustees  are  responsible  for  keeping adequate  accounting  records  that  are  sufficient to  show  and explain  the  charity’s  transactions and  disclose  with  reasonable  accuracy  at any  time  the  financial position  of  the  charity and  enable  them  to  ensure  that  the  financial statements  comply  with  the Companies Act  2006. They  are  also  responsible  for safeguarding  the  assets  of  the  charity  and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. 

The trustees confirm that so far as they are aware, there is no relevant audit information (as defined by section 418(3) of the Companies Act 2006) of which the charitable company’s auditors are unaware. They have taken all the steps that they ought to have taken as trustees in order to make themselves aware of any relevant audit information and to establish that the charitable company's auditors are aware of that information. 

Auditor 

McKelvie & Co LLP have continued as auditors during this year. 

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World Heart Beat | Trustees Annual Report 

## Our Vision 

We envision a world where non-selective, richly diverse music programmes are accessible to everyone. We know that music education can be a powerful tool for positive change for young people, their families and their communities. We want all young people, including those who have struggled within formal education, to have equal access to these transformative benefits. 

Our values are to nurture a powerful commitment to musical excellence; a warm embrace of people, cultures and world music; and a non-exclusive, non-elitist philosophy with no financial barriers. 

World Heart Beat’s mission to address the lack of affordable music tuition available to disadvantaged young people and to open up pathways into the music and wider creative industries, has seen our charity lauded for its youth-led approach and exceptional track record in making music education truly inclusive. 

Founded in 2009, we currently support over 360 students aged 5-25 on a weekly basis, providing 9,000+ hours of music tuition each year across 21 instruments and 13 genres. We also work in collaboration with grassroots community partners to inspire a further 2,000 children and young people via outreach and participation activities. We nurture personal and social skills 

that go beyond education attainment: growing confidence through high-quality teaching, encouraging collaboration through performance and developing leadership skills through volunteering and peer mentoring. 

Our programmes address the underrepresentation of Black and ethnically diverse,  working-class and disabled artists within the music and wider creative sector and provide pathways into sustainable music careers. The diversity of our programme has been designed to synergise with  traditional classical Western music genres within teaching. 

The array of music genres taught at World Heart Beat are representative of the diversity of South West London and London as a whole. Reflecting this focus: 70% of our students identify as global majority, and 50% come from low-income households. By partnering with local grassroots groups and youth centres, we are able to reach young people facing significant hardship, including young people from refugee and recent migrant groups and those who have struggled within mainstream education and training. 

By engaging past alumni and involving a wide spectrum of talented  musicians as teachers and mentors, we encourage young people to see a career in music and the creative industries as open to them. 


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## A Local Enterprise with Global Reach 

With the launch of our new academy in the prestigious Embassy Gardens development in Nine Elms, in January 2023, World Heart Beat’s (WHB) activities will be expanded across two locations at either end of  Wandsworth – World Heart Beat Kimber Road and World Heart Beat Embassy Gardens. 

This will offer greater depth to our programmes, with Kimber Road being a wholly educational facility and Embassy Gardens offering performance, recording/broadcasting facilities, talent and career development as well as music education. This will enable us to develop our global reach and place World Heart Beat firmly on the map as a centre of musical excellence. 

To create a successful cultural sector that represents Britain’s diverse communities and responds to new digital means of production, it is essential to provide inclusive and meaningful pathways into the music and creative industries for marginalised young people who face socioeconomic barriers to participation and career development. 

This will be at the heart of our new academy in Nine Elms, which is well underway in the construction phase. It will incorporate stateof-the-art infrastructure to create a venue that reflects the future of music education, with facilities that our students can draw on, centred on digital production and live performances. 


## Progress to date 

We are excited to be preparing for the launch of WHB Embassy Gardens in November 2022 with classes beginning in the new term of January 2023. 

The opening of a second premises is a landmark shift in the scope and reach of WHB. World Heart Beat Embassy Gardens’ auditorium will be the first in the UK to install the revolutionary 360-degree d&b immersive Soundscape system – ensuring every member of the audience will experience the same exceptional quality of sound, regardless of their position in the hall. It will enable us to stage a regular programme of global music concerts featuring world class, headline and emerging artists. The new 120seat/200 standing and 546 capacity venue will provide a distinct proposition in the arts ecology of London: an intimate yet world-class space, attracting top professional performers and providing a warm audience experience. 

WHB Embassy Gardens will also provide recording studios, a media broadcast room and teaching spaces using the latest technologies and enabling WHB to benefit thousands of young south Londoners annually by 2024/25. It will equip them with the skills, confidence and career development they need to progress as the musicians and industry professionals of the future. 

## Background to Music Education in the UK 

In August 2021, the Department for Education published a report on its call for evidence -seeking views on music education to inform proposals for a refreshed National Plan for Music Education. (DFE Call for Evidence Report). 

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World Heart Beat | Trustees Annual Report 

Views were sought from young people, parents and carers, teachers and those working in the music industry and from music education hubs. Responses highlighted the importance of music education and cited the numerous benefits of studying music such as improvements to pupils’ wellbeing and confidence and the positive impact it has on wider studies, including improving literacy, language and communication skills. Only half of respondents said that music education was being delivered in line with the government’s first National Plan published in 2011, highlighting how much progress there is still to be made. 


Respondents emphasised the need to make sure that music opportunities are inclusive and accessible to all children, in particular to pupils with SEND and pupils from disadvantaged backgrounds. When asked about underrepresented groups in music education, over two thirds of respondents cited those with disabilities, over half cited race and more than a third emphasised the importance of music in early years. 

The evidence gathered stressed the importance of making sure that opportunities are available throughout all stages of children’s education and that there are clear routes to progression. Many young people said that they valued music for the enjoyment of the subject itself and around half said they studied it due to a desire to pursue a career but had been deterred from taking up musical activities due to the cost; many said they had wanted to study a music qualification but this was not available as an option at their school, or that they felt pressured to choose other subjects. 

The consultation responses have shaped the Government’s new National Plan for Music Education (NPME) ‘The Power of Music to Change Lives’ published in June 2022. 

The plan sets out three main goals, which are that: 

- �� All children and young people receive a highquality music education in the early years and in schools 

- �� All music educators to work in partnership with children and young people’s needs and interests at their heart 

- �� All children and young people with musical interests and talents to have the opportunity to progress their interests and potential, including professionally 

These goals are at the heart of WHB‘s ethos in providing equality of access to music learning and development for children from low-income households, or who face additional challenges. 

The NPME also acknowledges the significance of technological advancements in providing children with new opportunities to learn, create and explore music. 

Technology is now an integral part of WHB’s offer - opening the door to a range of new and exciting creative careers young people can pursue, and not just in the music industry. The film, television and gaming industries, for example, are increasingly seeing the value of employing those with music technology skills. 

_“Music is a cornerstone of the broad and balanced education that every child should receive. It touches hearts and minds, it celebrates and challenges, and it connects us and moves us…Government believes that all children, regardless of background, should have access to a high-quality music education, should understand their options, and be supported to make progress. This refreshed NPME will help us to ensure that ambition is realised. Everyone has a part to play.”_ 

As one of the most prominent music charities in the country for providing grassroots, nonselective, richly diverse, music education programmes for children from a vast array of backgrounds, WHB is certainly playing its part in realising this ambition. 

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World Heart Beat | Trustees Annual Report 

## Background to the Music Industry in the UK 

British music makes a significant contribution to the UK economy but, like other industries, was severely impacted by the Covid-19 pandemic as studios and venues were forced to close, and musicians and crew were unable to work. During 2021 the music industry worked hard to recover. Data collated from across the music industry for UK Music’s annual report in 2021 show that the UK music industry’s contribution to UK economy in 2021 was £4 billion. 

This is up 26% on the £3.1 billion figure for 2020, but still down 31% on the pre-Covid all-time high of £5.8 billion in 2019. 

The report also found that employment in the music industry rose to 145,000 jobs in 2021 – a 14% increase on the 128,000 jobs in 2020, but again still down 26% on the pre-Covid record of 197,000 jobs in 2019. Exports in the sector rose in 2021 to £2.5bn – up 10% on the £2.3bn in 2020, but down 15% on the £2.9bn in 2019. 

Whilst there has been progress, the music industry is still a long way from reflecting the UK’s diversity (UK Music, Diversity Report 2020). Research shows that two thirds of young people with plans to begin music careers are forced to forgo their aspirations and take jobs in other sectors due to a range of structural barriers including race, gender and class. This is also reflected across the cultural sector, where only 12% of the workforce are people of colour. 


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World Heart Beat’s open-door approach and inclusive ethos will help to address systemic inequalities across the creative and digital industries - supporting young people whatever their background, to aspire to build and work in the music industries of the future. 

Our programmes will develop the next generation of talent – providing a pipeline of accomplished and dedicated musicians and industry specialists to become the highly skilled professionals essential to sustaining the UK’s vibrant and diverse music landscape, as well as ensuring its position as a global force in music and its production. 

_“At a time when it’s never been more important to grow our economy, music can play a vital role in boosting our economy and exports potential, as well as enriching our culture and society. Our music industry, which contributed £5.8 billion to the UK economy pre-pandemic, relies on the talent pipeline of outstanding students produced by our schools, colleges and universities._ 

_We should invest in them, cherish them and support them in every way we can to produce the highly accomplished professionals of the future and help them enjoy the brilliant range of careers the UK music industry has to offer.”_ 

Jamie Njoku-Goodwin, UK Music Chief Executive 


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World Heart Beat | Trustees Annual Report 

## Objectives and Aims 

World Heart Beat Music Academy aims to establish a world class, non-profit music school providing an opportunity for children and young people who have the passion, but may not have the means, to learn a musical instrument alongside other young people within a structured programme under the guidance of committed and inspirational professional musicians. 

World Heart Beat Music Academy creates an environment where music is the universal form of communication and bridges cultural, political, economic and linguistic barriers. Our mission is to provide children and young people with opportunities to move from grass roots music education towards a successful, sustainable career. 

We strive to create an inspiring place where children of all backgrounds feel welcome. It is a place to go after school, at weekends and during the holidays for lessons, workshops, practice facilities, and to play together in a range of bands and ensembles. 


## Objective 1 

To expand our programmes and facilities and move into our second premises – designed to the highest technical specifications and fit for purpose: 

In 2018, World Heart Beat was awarded a building in Embassy Gardens, having been selected from a competitive field of applicants to become a Cultural Anchor in the Nine Elms development, on the South Bank of London. Nine Elms is one of Europe’s most prominent developments, the second largest after Battersea Power Station, which is located adjacently. The new development will bring two new underground stations, 20,000 new homes and millions of visitors to the area. 

WHB’s inclusive global music programmes now outstrip the facilities & resources available at our Kimber Road Music Academy. With an urgent need for more youth-friendly music spaces that address the increasing lack of music education for young people unable to afford it, WHB’s successful capital campaign has raised £3.4m to date to fully fit out, acoustically treat and sound proof the new premises which will comprise: 

- �� Three new digital teaching spaces including full media, production and broadcast suite 

- �� Flexible 200 standing/120 seated capacity auditorium with state-of-the-art acoustics 

- �� Industry-standard recording studio with a partnership with Solid State Logic (SSL) 

- �� Cutting edge RedNet Audio Distribution System, installed throughout the building and paired with fixed 4kPTZ video cameras, enabling classes and gigs to be recorded and broadcast seamlessly in high fidelity 

- �� 70km of wiring infrastructure providing the latest Cat 6A cable, fibre optics and analogue capabilities 

- �� The first cutting edge audio d&b Soundscape object based reverberation enhancement system with a training partnership for a minimum 3 years in audio 

- �� Robe lights and lighting rig supplied by White Light with a 3-year minimum training programme, including mentoring and work experience which supports our EMERGE industry training programme 

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World Heart Beat | Trustees Annual Report 

Our expansion into Nine Elms will allow us to generate more self-sustaining and earned income streams, which will fund our charitable activities including the provision of bursary support for circa 50% of our student body who are disadvantaged and secure World Heart Beat’s long-term existence and resilience. 

We will increase our student population to 700 by 2025, generating more income from paying students able to afford fees (maximum 50% of students), the introduction of new specialist/ vocational courses in sound engineering/ production, music management and music journalism, ticket income from our performance programme, launch of a new publishing and record label arm and revenue generated from hire of recording studios, digital learning lab, auditorium and café. 

WHB Embassy Gardens will serve as a beacon for social inclusion in a rapidly changing neighbourhood, where there are limited music venues, cultural and youth infrastructure targeted towards lower income households. It will stand as a blueprint for the future of music teaching, education and performance, with facilities, available to local children, young people and emerging talent, centred on digital production and performance and broadcast technology, enabling us to extend our teaching nationally. 

It will be home to an inclusive concert and events programme showcasing emerging local talent alongside headline artists and feature global music genres that have resonance and relevance to South London’s diverse communities. 




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World Heart Beat | Trustees Annual Report 

## Objective 2 

To prioritise children and young people from socio-economically disadvantaged and challenging backgrounds and to release talent: 

We prioritise children and young people from socio-economically, disadvantaged and challenging backgrounds including recent migrants, refugees and those classified as NEET (not in education, employment or training). Our focus on reducing inequalities is reflected in student demographics, with 70% of our students coming from Black, Asian or Ethnic Diverse backgrounds, 70% from low-income households; 8% disabled and 15%  defined as ‘atrisk’ – for example, those from disadvantageous backgrounds and/or at risk of exclusion. 

We will continue with our mission through: 

- �� Offering a non-elitist admissions philosophy with no financial barriers, catering for students from diverse backgrounds 

- �� Releasing talent and transforming young lives by supporting young people to be ambitious, fulfil their musical aspirations and equip them for a sustainable career in the music and creative sectors 

- �� Enabling world-class musicians to pass their art and skills on to the next generation and draw out their talents 

- �� Practicing an enduring commitment to musical excellence and diversity 

- �� Providing a dedicated space in which professional musicians can expand their teaching, through workshops, band practice and by providing individual instrumental support for pupils 

- �� Creating an environment to provide specialised training specific to gaining employment within the creative industry including expert training in radio production, sound engineering, composition, band leadership and promotion 

- �� Nurturing and showcasing musical talent by participants who are at the very beginning of their music practice; cultivating and developing the skills and aspirations of intermediate and advanced students on the cusp of entering a professional musical career through our core programmes: Music Leaders, Musical Communities and EMERGE 


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World Heart Beat | Trustees Annual Report 

## Objective 3 

Develop and strengthen participant pathways to increase opportunities for children and young people to access music and creative activities: 

We will continue to develop our programmes to nurture young people’s talent and ambition, building partnership with key stakeholders and aligning activities around common goals and vision. Our core creative programmes are designed to provide pathways for young people at key transitional periods to access affordable music education. 

## Musical Communities 

Musical Communities provides children and young people (aged 5+) with a fun as well as practical introduction to music learning. 

Beginner students are encouraged to explore a range of music and instruments to introduce them to the joy of music-making and sound and are supported to develop their musical skills through class tuition and ensemble playing. A key part of the programme involves community outreach activities inviting participants, their families and local communities to share songs, folktales and stories reflecting diverse cultural traditions. 

During 2022, WHB piloted the Planet Harmony project, which explored themes relating to social, racial and climate justice through weekly music tuition and creative workshops in school settings. Children and young people were introduced to the joy of music and shared this with families and communities through open performances and parades. Planet Harmony also strengthened partnerships with local schools, and will remain a priority project under the Musical Communities programme banner for 2022/23. 

## Music Education Provided by World Heart Beat 

WHB teaches 21 instruments and 13 musical genres including Jazz, Gospel, Celtic, Latin, Reggae, Indian music and Western Classical. 


World Heart Beat Music Academy currently offers the following ensemble sessions: 

- �� 51st State Band (American-style concert band) 

- �� Asian School 

- �� 

- �� Gypsy violin 

- �� Jazz School 

- �� New Orleans second line 

- �� Jazz Improvising Vocal Choir 

- �� Vocal School 

- �� Latin American Rhythm 

And individual/group tuition for the following instruments: 

- �� Strings 

- �� Woodwind 

- �� Brass 

- �� Piano/keyboard 

- �� Drums 

- �� Guitar/bass guitar 

- �� Composition/song writing 

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World Heart Beat | Trustees Annual Report 

## Music Leaders 

Our Music Leaders programme engages 50 advanced students aged 15-25 and supports them with personal and skills development to become Music Leaders of the future. 

They benefit from masterclasses, one-toone mentoring, networking, professional development and work experience opportunities, enabling them to hone their musical abilities, gain leadership skills, and receive tailored support to help them achieve their individual goals and aspirations. Participants in Music Leaders are selected from diverse backgrounds and priority is given to students from disadvantaged and lowincome backgrounds. 

Having successfully piloted the programme over 2 years we are now gathering outcomes and evidence to make the case for this programme to be formally recognised by Ofqual, with the aim to launch a future ‘Music Leaders Apprenticeship programme’. Students completing the programme gain the leadership, performance and wider skills needed to pursue a viable career in the music and creative industries. We will continue to strengthen this programme in 2022/23, expanding the mentoring offer. 

## EMERGE 

EMERGE is a new industry training and talent development programme aimed at encouraging and supporting young people from diverse backgrounds to build sustainable careers within the music and creative industries. 

These 8-week training programmes are open to 16-25 year olds living, working or studying in South London and offers practical workshops, advice, mentoring and paid work experience within the industry. 

The programme builds on the success of the Music Leader programme and works with key stakeholders, and industry leads to build the opportunities and networks to support more diverse young people to enter the industry. With at least 70% of participants from Global majority backgrounds, 50% female, and 50% from lowincome backgrounds, EMERGE represents our strong commitment to addressing the systemic barriers young people, particularly those from diverse and disadvantaged backgrounds, face. EMERGE has been co-designed and co-delivered by young emerging artists, working alongside industry professionals and engaging community partners and creative and cultural networks across South London. 

The pilot launched in January 2022, and since has supported over 129 young people to develop their skills, confidence and networks. The programme will be based at WHB Embassy Gardens, using its state-of-the-art facilities and technology to upskill participants and ensure young people, regardless of their background, gain the skills needed to succeed within the industry today. 

WHB has made big strides in digital and production training, with investment in kit and the live streaming of concerts and production of high-quality music videos. Young people have not only performed but also undertaken a wide range of production roles and benefited from workshops and new courses in: 

- �� Music management 

- �� Music production and engineering 

- �� Radio production and presentation 

- �� Vlogging 

- �� Event management and presentation 

- �� Stage performance and movement 

- �� Filming 

- �� Becoming an independent artist 

World Heart Beat aims to increase opportunities for children and young people to participate and engage in music and creative opportunities. We will continue to build our core programmes, working in collaboration with stakeholders and partners to share and disseminate learning. The opening of WHB Embassy Gardens will enable us to develop and expand creative programmes, utilising industry standard technology to generate and produce new digital content achieving our aim to set up World Heart Beat Radio at Embassy Gardens. We will also develop new corporate partnerships and collaborative opportunities to increase learning and work experience opportunities for young people. 

## WHB Music Examination Board 

We will seek accreditation from Ofqual for a WHB exam syllabus, and online teaching research. We aim to share best practice with key influencers and policy makers to remove barriers to participation in high quality music education and careers. 

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World Heart Beat | Trustees Annual Report 

## Achievement and Performance 

89% of young people aged 15-25 years on our Music Leaders programme believe that coming to World Heart Beat has benefited them professionally. 

77% of WHB’s students taking Trinity/ABRSM exams receive a merit or distinction, and 70% of our advanced students now study at top music conservatoires, universities or have found professional employment as musicians or within the music industry. 

In the past year, students have been awarded scholarships to study music at Trinity Laban Conservatoire, Royal Northern College of Music, Royal Birmingham Conservatoire, Princeton and Juilliard in the US. 

## Jack Petchey Awards 

Twelve WHB students received Jack Petchey Awards for Outstanding Achievement, honouring the dedication and commitment of students who have gone above and beyond. Each recipient received a certificate and a small cash award to put towards equipment and instruments, workshops and masterclasses, or going to concerts and shows. 

## Arts Awards 

Twenty-one WHB students are working towards their Arts Awards, with five students achieving Bronze award, and five their Silver award. Arts Awards is a recognised qualification that values the creative skills, leadership and soft skills developed through participation in music and creative activities. 

## Ziggazah Youth Board 

Listening to young voices is key in developing our objectives and deepening our impact. 

Ziggazah is WHB’s Youth Board, giving our young people an active voice in generating ideas that promote the ethos and energy of WHB and that reflects a creative community open and welcoming to all backgrounds & cultures. The Youth Board meets quarterly to generate ideas, and a member of the group is invited to present their ideas to the Board of the Trustees at one of their quarterly trustee meetings. 


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World Heart Beat | Trustees Annual Report 

## Partnerships and Diversity of Income Generation 

World Heart Beat is pleased to have built on successful past collaborations in developing new partnerships with local, national and international high-profile businesses and organisations including Domino Recording Company, Hearst Corporation and ZEDRA. 

This has led to increased diversity of income supporting more student scholarships and talent development. We are immensely grateful to our partners and look forward to deepening our relationships with them, as well as cultivating new partnerships to continue to develop our programmes and diversify our offer. 

## Music Industry Partners 

We are delighted that over the course of the past 12 months, we have deepened our relationships with existing partners and initiated new partnerships with music industry specialists to develop a series of Music Industry Intensives as part of our EMERGE Programme. 

## Our EMERGE partners include: 

## Chocolate Films 

Based in Nine Elms, Chocolate Films is a leading video production agency who works with clients across the arts, heritage, corporate, medical, education, charity and public sectors. 

## d&b audiotechnik 

Leading German loudspeaker and amplifier manufacturer, founded in 1981. They specialise in developing equipment which integrates with the latest technology, and have fitted out prestigious venues such as the Royal Albert Hall. 

d&b audiotechnik have committed to a minimum of three years industry training and sound engineering which will be rolled into our EMERGE Programme. They will also provide Industry Intensive music mixing taster sessions and live sound engineering training. 

## Domino Recording Company 

Based in Wandsworth and founded as a British independent record label in 1993, Domino has grown to establish new wings of the label in the US, Germany and France as well as a publishing arm, working with an array of high profile artists. 


Our partnership with Domino is a cornerstone of our EMERGE Programme, providing music industry training covering a wide range of roles including A&R, Press, Social Media and Synchronisation, and offering paid apprenticeships for two young people selected from the cohort of students who are completing the programme. 

## Miloco 

Recording studio specialists, based in Southwark and managing 170 studios worldwide. Miloco have been involved in the original design element fit-out of our new studios at Embassy Gardens and are contributing to our Industry Intensives through providing practical sessions on studio recording and production at their studios. 

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World Heart Beat | Trustees Annual Report 

## White Light 

Based in Merton, White Light are the preeminent technical specialists for live music and theatre, providing lighting, audio, video and rigging to projects of all sizes across the UK, Europe and worldwide. 

White Light are providing comprehensive technical training, work experience, live opportunities, career workshops and paid apprenticeships for two young people as part of our industry training EMERGE Programme. 

## Corporate Partners 

## Big Yellow Storage 

Big Yellow have generously provided us with two storage units – at Nine Elms and in Wandsworth – which has given us essential storage space for our equipment. 

## EcoWorld Ballymore 

EcoWorld Ballymore and Wandsworth Council selected World Heart Beat from forty-two organisations to become a new cultural anchor for the Nine Elms Development area – with the award of a 50-year tenancy of 750m[2 ] of space on Eco-World Ballymore’s Embassy Gardens site on a lease of 50 years at a peppercorn rent of £1 annually – estimated to have a commercial value in excess of £10m. EcoWorld Ballymore have also generously contributed towards some of our outreach activity in Nine Elms. 

## Hearst Corporation 

Thanks to our dearly missed friend, patron and advisor, the late Terry Mansfield CBE, our introduction to the Hearst Corporation secured generous sponsorship of a Media Teaching Room at WHB Embassy Gardens Academy. This will be an essential component in unleashing the potential of young people through providing professional skills development, experience and learning that supports routes into future employment and career development. 

## Keystone Capital 

Keystone Capital is a wealth advisory boutique founded by Samik Mukherjee and David McLellan. Keystone provides professional and impartial advice on structuring and managing wealth to meet their clients’ specific objectives. This may be planning for retirement, protecting assets for future generations or simply trying to optimise returns on investments. World Heart Beat is Keystone’s charity partner for the next three years. 

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World Heart Beat | Trustees Annual Report 

## PPL 

PPL is the UK’s music licensing company for over 130,000 performers and recording rightsholders. PPL is World Heart Beat’s first ‘Young Artist Recording Sponsor’. The sponsorship will enable 6 diverse young musicians to record for the first time, free of charge. Normally cost-prohibitive, the recordings will give emerging musicians a foot up in their careers. 

The recordings, on World Heart Beat’s new record label, are being made at our new state-ofthe-art studios in London’s Nine Elms. 

## ZEDRA – Young Jazz Musicians Talent Programme 

ZEDRA, is an independent, global specialist in trust, corporate and fund services. It is sponsoring music scholarships for eight students selected for their music ability and commitment to learning. This initiative supports students from diverse social and cultural backgrounds in South West London, who otherwise would not have the means for additional non-school based musical education. Each benefits from a tailored programme, encompassing music lessons, masterclasses, music exam preparation, provision of their chosen instrument and access to further ranges of instruments. 

## Other Partners 

## Arts Council England 

World Heart Beat is pleased  to have remained as a National Portfolio Organisation for 2023-2026, securing an additional three years of funding from Arts Council England (ACE). 

NPO funding provides WHB with core costs to build its creative core programmes, enabling more young people from all backgrounds to develop their skills. We look forward to continuing our relationship with ACE. 

We believe World Heart Beat will play a vital role in delivering ACE’s _Let’s Create_ strategy by 2030. Furthermore, World Heart Beat, through its development of World Heart Beat Embassy Gardens has now ingrained itself as a significant organisation in London’s arts and cultural ecology. 

The opportunities to continue to form great partnerships with other educational, arts and cultural organisations are vast, synergising and leveraging the overall impact. 


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World Heart Beat | Trustees Annual Report 

## Friends of World Heart Beat Music Academy 

Our Friends of the Academy scheme was originally set up to support WHB to transform an abandoned top floor space, in an industrial building on Kimber Road, Southfields into a beautiful, soundproofed music academy – complete with performance space and teaching rooms. 

The development of our new Embassy Gardens facility will provide many exciting new opportunities for our Friends Scheme to expand and support WHB’s activities at different levels. Friends receive priority invitations to our concerts and other public events, newsletters highlighting World Heart Beat’s past and forthcoming activities and behind the scenes news. 

We would not be where we are now without the support of Friends to the academy and owe them immense gratitude for their ongoing commitment and belief in what we do. 

## The Jack Petchey Foundation 

The Jack Petchey Foundation has generously supported World Heart Beat in a myriad of ways including sponsoring Achievement Awards for “young people who have gone above and beyond to achieve – perhaps when others thought they might fail” 

JJJA and WHB are intertwined – our partnership provides shared enrichment and development opportunities for students at both academies, helping to create well-rounded and highly skilful musicians. 

World Heart Beat students follow specialist jazz programmes at JJJA, and JJJA students expand their experience in classical music, orchestra and band performances, as well as through mentoring WHB students. 

## Yokohama Calling 

Yokohama Calling is a not-for-profit organisation whose mission is to promote cross-cultural understanding through the universal power of music and arts and producing collaborative arts events, bringing together musicians from Japan, the United Kingdom and beyond. 

Our on-going partnership with Yokohama Calling has provided World Heart Beat with access to some of Japan’s most exciting talent who have given Masterclasses and workshops to our students. This has been facilitated by leading musician and producer Nick Cohen who is Head of Digital Delivery and Young Artists’ Development at World Heart Beat and also Creative Director of Yokohama Calling. 

The Foundation has also continued to fund internships at World Heart Beat and we were delighted to welcome Sarah Rimmer as our Events and Broadcast Intern from January 2022. 

As with everything World Heart Beat does, we try to focus on the end-to-end, transforming lives of young people. We are thrilled to have employed the first intern on a full-time basis, Jim Sorenson who is now assisting with the new studios, working daily on production, live shows recording and music editing. 

## Julian Joseph Jazz Academy 

The Julian Joseph Jazz Academy (JJJA) – under the artistic direction of internationally renowned jazz pianist, composer and World Heart Beat Patron Julian Joseph – offers talented young instrumentalists and vocalists an amazing opportunity to work with some of the world’s top jazz musicians, developing their creative talents and performance skills, through exploring the American roots of Jazz. 


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World Heart Beat | Trustees Annual Report 

## Timeline of events 

## 1 September 2021 – 31 August 2022 

## SEPTEMBER 2021 

## Leathersellers’ Company 

WHB was invited to perform an uplifting Latin set (with dancers) at this special event with music from Ava, Charles, Wilf Diamond, Ayo, Miranda and Menalik. Excellent feedback was received including... 

_‘What a triumph this performance was! I can’t thank you enough. Everyone thoroughly enjoyed it and they have been talking about it more than any other event we have arranged.’_ 

## OCTOBER 2021 

## Keystone Capital 

WHB musicians Nathan Dawkins (bass), Jacob Baima (keys) performed at the RAC Club, St. James’s as part of a private function organised by Keystone Capital, a wealth advisor boutique who have since taken WHB on as one of its designated charities. 

## Line of Light Festival 

WHB gig musicians performed to an audience of 70+ at New Union Square, Embassy Gardens, one of two festival hubs with other free family friendly community activities (including arts workshops and street theatre) at The Line of Light Festival, a weekend event to celebrate the communities living above the extension of the new Northern line and taking audiences across a 3.2km walking route between Battersea Power Station and the Oval. 

## NOVEMBER 2021 

## Lord Mayor’s Show 

11 musicians from WHB’s New Orleans Band performed on a horse-drawn bus at the Lord Mayor’s Show, an event which has taken place annually for over 800 years. 

Amongst the full-size model elephants, Japanese drummers, the tallest fire engine in Europe and of course, the Lord Mayor’s splendid State Coach, our musicians performed with gusto and energy to a live audience of over 500,000. WHB was featured in a segment as part of the BBC’s coverage programme. 

## EFG London Jazz Festival 

22 WHB jazz musicians performed with the Julian Joseph Jazz Academy (JJJA) as part of its ‘Together We Go Forward’ programme at the iconic London jazz venue, Club 606. 

Both academies work beautifully together in providing shared enrichment and creation of more well-rounded young musicians who benefit through learning, gaining experience and performance opportunities. The performance  of jazz standards featured some of London’s finest up and coming jazz musicians. 


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World Heart Beat | Trustees Annual Report 

## DECEMBER 2021 

## Embassy Gardens Christmas Festivities 

WHB performed a series of Christmas carols with an afternoon performance featuring brass band players in the heart of bustling activity at Union Square, followed by an evening performance under the Christmas tree at the Embassy Gardens Marketing Suite. The event was truly uplifting with carol singing, a creative walking trail and a Christmas food market to help get local residents into the festive mood. 

## Samba Parade 

WHB musicians accompanied forty Year 5 students from Griffin School in a Latin parade through the local Patmore and Carey Gardens estates in Nine Elms. The parade culminated in the school playground to an audience of parents, teachers and other students. The parade was the end result of eight weekly Latin Samba drumming workshops led by Brazilian percussionist, Xande Oliveria as well as headdress-making sessions using recycled material from TARU Arts. This activity was also launched in honour of Mardi Gras (or Samba Tuesday) as part of The Nine Elms Sessions, celebrating the vibrant Latin communities living in and around ‘Little Portugal’ in South Lambeth. 

## China Tang at The Dorchester 

WHB’s Wilf Diamond’s Quartet and vocalist were invited to perform three sets at a new year’s performance at the exclusive China Tang restaurant to a crowd of 100+. 

## JANUARY 2022 

## Piano Showcase at Coach House Pianos 

Five talented WHB pianists took part in solo performances to over thirty invited guests at the stunning Coach House Pianos, Fulham. The event included a funding call for action, and introductory talk about our new development plans by Chief Executive Officer James Gero, alongside Q&As with Sahana as well as signifying the launch of WHBs new online Piano Department, led by Michael CsányiWills to highlight its aim of establishing an integral piano department, and encouraging grass root musicians on their journey through to music college. 

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## FEBRUARY 2022 

## The Nine Elms Sessions 

## MARCH 2022 

## Horn Masterclass at Classical Vauxhall 

WHB launched The Nine Elms Sessions, a series of six music videos celebrating the Nine Elms local community whilst reflecting on the area’s heritage, present identity and promising future, as well as the arrival of its new music academy and concert hall at Embassy Gardens. 

Kindly supported by Wandsworth Council and Developer EcoWorld Ballymore’s Embassy Gardens, the six music videos, featuring the next generation of musical talent from World Heart Beat, were released on designated dates over 

Starting with the academy’s version of ‘Fly Away’ by Lenny Kravitz, the video celebrates (what would be) Hilda Hewlett’s 158th birthday – the Vauxhall-born early aviator, aircraft manufacturer and flying instructor. The Samba Parade celebrates the vibrant Latin communities living in and around ‘Little Portugal’, in South Lambeth; Settlers highlights the importance of the River Thames and this section of London’s South Bank as a popular destination over the centuries for Irish settlers seeking long-term employment and seasonal work; The fourth session celebrates the UN’s International Day of Happiness (founded in 2012) filmed at Thessaly Road featuring the Happy Street railway bridge installation of brightly coloured panels designed by Yinka Ilori; The fifth session plays homage to rock band The Who, who in the early 1970’s converted the old church on Thessaly Road into Ramport Studios specifically to record its _Quadrophenia_ album and finally, the Nine Elms Sessions finishes with young Heart Beat talent performing Handel’s awe-inspiring ‘The Arrival of the Queen of Sheba’, to coincide with the Queen’s Jubilee Weekend (marking the 70th anniversary of the Queen’s ascension to the throne). 

Young WHB musician Luca Csyáni-Wills (8 years) was invited to take part in a French Horn Masterclass with Ben Goldscheider (accompanied by his pianist father, Michael Csányi-Wills) as part of the annual Classical Vauxhall online concert. Back for its third year, the concert brings outstanding new and established artists to Vauxhall. Presented by Fiachra Garvey, Artistic Director of Classical Vauxhall, the one-to-one French Horn masterclass provided an excellent opportunity for all to enjoy and learn from. 

## Terry Mansfield Memorial 

WHB musicians were invited to perform at the memorial service at Kensington Palace for our dear friends and avid WHB supporters, Terry and Helen Mansfield, who both passed away due to Covid. Terry was former President and Chief Exec of Natmags, now Hearst UK, and was hugely complimentary about our work supporting young people. He was a true inspiration to us, opening doors and as well as showing huge love, friendship and incredible support. Our musicians performed Bob Marley’s ‘Three Little Birds’ - a favourite song of Terry, Helen and their family - It was a beautiful event which we were hugely honoured to be a part of. 

## Planet Harmony 

Exploring themes relating to social, racial and climate justice through music, The project provides free brass and tabla tuition to pupils at Griffin Primary School and Harris Academy in Battersea, as well as hosting international Colombian musicians and educators, Mr. Klaje with a two-week residency including workshops in making musical instruments out of recycled 

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World Heart Beat | Trustees Annual Report 


materials. Winston Rollins, (Trombonist, Writer and Producer) has taught Trombone and Trumpet to twenty-two Year 4, 5 and 6 students at Griffin Primary School, and Alok Verma has taught twenty-six students from Year 9 and 10 at Harris Academy, both over a twelve-week period. The project culminated with a Planet Harmony showcase at Griffin Primary School’s ‘Forest in the City’ Garden in June, as part of the Wandsworth Arts Fringe Festival. 

## EMERGE 

World Heart Beat launched a free, action packed 2-day intensive course at South Thames College acting as a ‘taster’ introduction to its EMERGE 8-week training course in the summer. EMERGE is a industry training and talent development programme aimed at supporting young people (aged 16-25) looking to start a career in the music industry. Industry professionals including Jyoty, Anjelo Disons, Lex Amor, Shireen Valentina, Deanna Rodger, Shunaji, Domino, Reprazent Radio, Jelly Cleaver and Eno Efiek took part in panel discussions and workshops. 


## MAY 2022 

## Astor Hostel Gig 

A performance by Ava Joseph and the Soundcrew for our friend Alex Rivers, whose charity supports World Heart Beat. The live performance took place at the Astor Hostel Hyde Park to an audience of hostel guests and members of the public. 

## EMERGE Programme 

Pilot begins with a roadshow going to different schools and a series of taster sessions to recruit young people to join the EMERGE Programme, created to support young South London talent wanting to find ways in to the music industry 

## The Royal Academy of Dance Open Day 

WHB’s contemporary gig band were invited to perform at  the opening of The Royal Academy of Dance’s new venue in Battersea. Over 600 visitors enjoyed live music, free workshops, dance-inspired crafts, face painting and exploring RAD’s archives. 

## APRIL 2022 

## Together We Go Forward 

A live concert presented at the Bridge Academy in Hackney to celebrate International Jazz Day and featuring some of London’s most exciting young jazz musicians from WHB and the Julian Joseph Jazz Academy. 

## WHB Fundraising event 

Friends and supporters were invited to a hard hat tour at Embassy Gardens for a sneak preview and progress update followed by a drinks reception at neighbouring venue, TXF. The event included a screening of The Nine Elms Sessions, a series of six music videos funded by Wandsworth Council and Embassy Gardens, celebrating the Nine Elms local community whilst reflecting on the area’s heritage, present identity and promising future and a performance of Celtic music led by Ben Gunnery. 

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World Heart Beat | Trustees Annual Report 

## JUNE 2022 

## Queen’s Platinum Jubilee 

A wonderful way to celebrate the Queen’s seventy years as monarch;  World Heart Beat was invited by Enable and Wandsworth Council to provide live lunch time music entertainment for ’The Big Jubilee Lunch’ taking place simultaneously in five Wandsworth parks including Tooting Common, Wandsworth Common, Furzedown Recreation Ground, Coronation Gardens and Battersea Park. WHB provided jazz, contemporary gig band, Brazilian music by Anjelo, Ava and Aleh Soul, New Orleans marching band, traditional Asian music (led by Raj Heer and Alok Verma) as well as providing a workshop to make instruments out of recycled materials and a piano party, giving local musicians a chance to perform in front of their friends and family, over a picnic lunch. 

## Wandsworth Arts Fringe Festival 

Members of WHB’s New Orleans Band were invited to lead the opening procession of this year’s WAF Festival along Battersea Reach. The musicians performed alongside pop-up performances of dance, spoken word and other musical performances to a mixed audience of WAF artists, councilors, festival partners and supporters and the general public. Aside from the opening procession, we also held two Nine Elms Sessions screenings at local boutique Battersea cinema, Cinema in The Arches, an Open Day at Kimber Road and showcased Planet Harmony at Griffin School (see below). 


## Try an Instrument Open Day at WHB Kimber Road 

WHB held its biannual Open Day for prospective young musicians to try out an instrument of their choice and to find out more from our musicians and teachers on site. Over forty people attended and enjoyed trialing instruments; a useful way to help recruit more students to our academy. 

## Summer in Battersea Park (Live at the Bandstand) 

WHB took part in two free days of live music performances at Battersea Bandstand. Summer in Battersea Park is part of Love Parks Wandsworth, a campaign to encourage residents to enjoy their local green spaces and parks throughout the summer. Produced by Enable Leisure and Culture in collaboration with Wandsworth Council, our musicians included Anjelo, Ava Joseph, Scipio, Miranda, Nathan and Olah (caipira) as well as our New Orleans style marching band. 

## Music is in the Air 

As part of internationally celebrated Make Music Day, World Heart Beat launched a pop-up music space for playing and enjoying live music in Nine Elms over the summer. 

Located in Merchants Way, the colourful walking route which runs through New Covent Garden Market between Nine Elms Tube station and Ponton Road, our branded alcove featured a donated piano painted by local artist, Nunziatina Del Vecchio (and WHB cello teacher) available for members of the public to play, receive free piano lessons and other music learning opportunities. It also provided a jamming space for musicians, free of charge. 


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World Heart Beat | Trustees Annual Report 

We were delighted that Pianist and Composer Howard Blake (whose amazing work includes his soundtrack for Channel 4’s 1982 film, The Snowman) offered to ‘christen’ our piano to help kick-off the programme! 

## Saddler’s Hall (Fanmakers) 

Rebecca Wing’s Jazz band performed at Saddler’s Hall for The Worshipful Company of Fanmakers. 

## Summer Sounds at Civic Suite, Wandsworth 

Wandsworth Music in partnership with the Wandsworth Arts Fringe Festival (WAF) invited WHB’s celtic fiddlers to perform in a celtic performance led by Ben Gunnery, celebrating the wealth of musicians across the borough. 

## Last Mile Fundraising event 

WHB’s final fundraising event took place at Embassy Gardens prior to opening later in the year. Over thirty guests came to hear more about the venue, and to hear music performances from some of our top musicians. 

## JULY 2022 

## Happy Streets Festival 

This summer’s one day Happy Streets Festival was held around the Thessaly Road area (SW8) with a line-up of live music, theatre, craft and wellbeing activities and performances for all ages, including a recycled instrument making workshop in the Yvonne Carr Centre Garden. 

World Heart Beat’s Gig Band performed an eclectic programme spanning a whole host of contemporary popular music genres on St George’s school main stage. Our Second Line New Orleans Band Parade kept the 200+ audience on their toes. 

## EMERGE Summer Training 

Following the introduction of the taster session in March, WHB kicked off its free eight-week training course to help develop a sustainable career in music by offering training in production, working as an independent artist and producer, building community, and gaining insights into UK music roles, along with paid work experience, mentoring and apprenticeships. 


## AUGUST 2022 

## Music in the Air Performances 

Following the launch of our pop up music space, we hosted a variety of outdoor  performances in the alcove, including musicians Edith WeUtonga (multitalented bassist, singer and songwriter). Arnaldo Corgorno (WHB’s resident Venezuelan piano teacher) Gin Tzu Tsai (currently pursuing her Master of Music at the Royal College of Music under the artistic guidance of Nigel Clayton and Andrew Zolinsky) and a finale Piano Party with performances from some of our students and newcomers, hosted by WHB Music Leader, Chiara Calastri. 

## Tideway – Ebb & Flow 

This music project was kindly funded by the Tideway 2021/22 Community Grant Fund for Wandsworth. The Ebb and Flow project helped connect our musicians with the local Nine Elms community to celebrate the Thames and the local area through music. The project provided creative opportunities for young people by developing their communications, songwriting and performance skills. The group participated in a range of activities inspired by the river, as well as gaining experience in event and project management, filming, recording river soundscapes, producing, interviewing workers and residents, songwriting, engagement workshops and performances for local audiences. Songwriting sessions were hosted by Portugalbased Tammy Weiss at Battersea Barge, Natalie Oliveri for Fairbeats! Love to Learn programme (working with local refugee children) at the Katherine Low Settlement and WHB’s Ava Joseph and Sian Kelly.The project has produced four new songs including ‘River’, ‘Step Inside’, ‘Tread Lightly’ and ‘Go with the Flow’, and was launched at the Thames Festival. 

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World Heart Beat | Trustees Annual Report 

## Theory of Change Model 

As World Heart Beat grows, a new model is required to ensure all current and future activities continue to meet the organisations objectives and values. 

A Theory of Change approach was chosen by trustees to refine the organisation’s core beliefs, areas of activity and outcomes. 

This is being developed around 7 core beliefs: 

- �� Every young person who comes to World Heart Beat is a musician 

- �� Generosity is the lifeblood of World Heart Beat, we go above and beyond 

- �� Young people should be treated as creatives and equals with immense potential 

- �� Young people should have access to all genres of music, taught by professional musicians 

- �� A bespoke, flexible and proactive approach best meets the needs of young people 

- �� Young people should be inspired to achieve beyond their expectations 

- �� Musicians’ and artists’ careers work differently, our programme must be built around their needs 

These beliefs inform World Heart Beat’s methodology in providing: 

- �� Musical Training 

- �� Technical Instruction 

- �� Industry Connections 

- �� Bespoke Support 

- �� Entrepreneurial Coaching 

- �� Creativity and Joy 

Enabling us to deliver social, personal and professional outcomes, which cultivate: 

- �� Leadership – Young people learn how to lead and manage others, take responsibility, develop social skills and work collaboratively 

- �� Community Building and Enrichment – Young people at the heart of a creative community 

hub which provides local residents and visitors from all backgrounds with high-quality music, outreach and social events 

- �� Discipline and Confidence – Supporting the autonomy of young people in taking responsibility for their learning and progressive self-improvement 

- �� Ambition – Encouraging young people to think big, raising their aspirations for what they can achieve in their lives and their futures 

- �� A Creative Mindset – Young people learn to think independently and creatively in finding solutions to problems and challenges they encounter 

- �� Performance Skills – Confidence building through coaching and performance opportunities that equip young people to perform with confidence and flair 

- �� Creative Careers – Providing support and opportunity for young people to find routes into employment in a variety of music and wider creative roles 

World Heart Beat’s Theory of Change activity was led by Dr Meg Peterson, supported by our Director of Philanthropy and Commercial, in consultation with WHB staff, stakeholders and youth. A full report detailing the Theory of Change process and initial evaluation findings has been drafted. 

The qualitative and quantitative evidence clearly demonstrates positive progress against social, personal and professional outcomes. The combination of ongoing support and encouragement from staff, including mentoring, alongside music and creative teaching is crucial to success. The opportunity to participate in a range of classes, ensembles and creative activities supports participation and growth across key impact areas. 

The Theory of Change evaluation has highlighted both significant areas of success and areas for development. This approach will be used as a basis to inform the organisations wider evaluation methodology and framework and in planning of future projects and activities. 

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World Heart Beat | Trustees Annual Report 

## Organisational Structure & Governance 

WHB is a registered charity controlled by its governing document, deed of trust and constitution as a company limited by guarantee, as defined by the Companies Act 2006. Our organisational and reporting structure is as follows: 

World Heart Beat has a growing team that will develop in line with the organisational structural table below. Our Board of Trustees oversees the organisation and provides governance. They direct the affairs of the charity, ensuring it is solvent, well-run and delivers our charitable objects. We have also established an advisory Change Board made up of external ‘critical friends’ from Wandsworth Council, property developers EcoWorld Ballymore and local business leaders to oversee the Embassy Gardens capital project and campaign. 

Quarterly reports are prepared for the Board of Trustees by our senior management team to update on progress towards our objectives, financial position, planned activities and risk management. 


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James Gero<br>Sahana Gero<br>OFQUAL<br>Artistic  Chief  Responsibility<br>Director Executive  Officer<br>Officer<br>Marketing &  Admin &<br>Faculty<br>Fundraising Finance<br>Teachers Head of Philanthropy  Admin/Office<br>& Partnerships Manager<br>Creative Learning &  Grant Application<br>Participation Manager Writers Finance Manager<br>Producer:<br>Marketing Manager Book-keeper<br>Events & Community<br>Creative Assistant<br>**----- End of picture text -----**<br>


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World Heart Beat | Trustees Annual Report 

## Financial Review 

World Heart Beat Music Academy works alongside but is independent of the educational establishment; the funding being through Trusts, Foundations, friends, corporates and the Arts Council. 

Additional income is generated in the form of low cost tuition fees and our own concerts and events. 

## Financial Summary 

## Income 

A successful 2021-2022 saw an increase in donations, both in charitable activities and donations and legacies from £871,868 to £3,084,334. Total income from all sources reached £3,092,843. During the year the Charity paid grants of £2,576,500 to its wholly owned subsidiary World Heart Beat CIC to fund the new World Heart Beat building where World Heart Beat CIC has an asset lock on the new facility. 

Of the charitable activities, music tuition provided £132,492 up from £93,487 the previous year. Bursaries continued to grow too in line with this growth. Concert revenue increased 109.8% from 2021. 

## Expenditure 

The cost of raising the funds increased by 68.3% due to the increased in complexity of submitting applications. As we increase our work, teaching, community and outreach programmes, our requirement to build in house resources meant that our expenditure on charitable activities increased from £488,044 to £675,436. Our total expenditure on raising donations and charitable activities increased from £569,348 in year ending 2021 to £748,988. 

Expenditure on charitable activities - Music tuition increased from £197,432 to £226,183 and support costs increased £109,374. 

The overall expenditure increased including examination costs for the young people up 46.68% to £17,275. 

The overall cash at the beginning of the year was £638,108 which was reduced by £265,550 as expenditure increased. Our cash or cash equivalents reduced to £372,558. 

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World Heart Beat | Trustees Annual Report 

## Instrument/asset donation 

All donations of instruments and assets are recorded carefully and efficiently as they come in, with each item being labelled with a unique reference, the value recorded, and assigned to a category. 

The accounting system holds the full asset register and is used to calculate value monthly. 

## Fixed Assets 

Our tangible fixed assets increased from £364,270 to £2,842,012 primarily as a result of the construction of our new site at Embassy Gardens. 

## Funding Goals for 2022 - 2026 

## Goal 1 – Continuous 

To continue to deliver our programmes and secure renewed Arts Council England National Portfolio Organisation funding. 

## Goal 2 – Continuous 

To secure funding to support bursaries for children from low-income families (50% of our students), to participate in one or more of our core programmes. 

## Goal 3 – Specific 2020-2022 

Successfully raised £3.46m to develop and complete World Heart Beat Embassy Gardens 

## Goal 4 – Continuous 

## Reserves Policy 

World Heart Beat Reserves Policy is as follows: 

The policy of the trustees is to maintain a level of reserves that will provide a stable base from which to fund the charities future activity whilst ensuring that excessive funds are not accumulated. 

The trustees have set a target range of general reserves of £180,000 which the trustees estimate is sufficient to meet the charities legal commitments should it be required to shut down due to a lack of available funds as well as to cover three months of future operating costs. 

The reserves target is reviewed and updated on an annual basis. 

General reserves at 31st August 2022 totalled £282,494 (2021: £313,771). 

To develop and launch a number of initiatives to make World Heart Beat more financially robust. Building a multi-faceted social enterprise including the development of a World Heart Beat syllabus, broadcasting of live performances, short courses and publishing. 

We would like to thank all those that have participated in making World Heart Beat a truly magnificent creative educational organisation. We welcome and value our partnerships and will strive to leverage and maximise where possible. 

Approved by order of the board of trustees and signed on its behalf by: 


..................................................................... 

Mrs Rachel van Walsum – Chair of Trustees 

..................................................................... Ms Sahana Gero, MBE – Charity Secretary Date: 03 August 2023 

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World Heart Beat | Trustees Annual Report 

## Thank You So Much 

We want to thank the many people and organisations who make donations to support our activities. Every amount received, no matter how large or small, is vital to our work and immensely appreciated. Amongst others, World Heart Beat would like to thank: 

## September 2021 to August 2022 (Grants, donations and project activity) 

## Our Capital Supporters 

With our grateful support for funding towards our Embassy Gardens Venue: 

- �� Arts Council England 

- �� Backstage Trust 

- �� Bart & Magali Deconnick 

- �� Bernard Sunley Foundation 

- �� Big Issue Invest 

- �� Bokor-Ingram Family 

   - �� The Story of Christmas 

   - �� Sutcliffe Family 

   - �� Tabor Foundation 

   - �� Taylor Family Foundation 

   - �� U&I Group 

   - �� Worshipful Company of Insurers 

   - �� Worshipful Company of Management Consultants 

   - �� ZEDRA 

- �� 

- �� Clothworkers’ Company 

- �� Cockayne – Grants for the Arts 

- �� Coln Trust 

- �� Domino Recording Company 

- �� EcoWorld Ballymore 

- �� Foyle Foundation 

- �� 

- �� Hearst 

- �� Knight Frank 

- �� Levelling Up Fund 

- �� Linbury Trust 

- �� London Borough of Wandsworth 

- �� London Community Foundation 

- �� MacTaggart Third Fund 

## And our appreciation for support in kind to: 

   - �� Bolon 

   - �� Domus Tiles 

   - �� Solid State Logic 

   - �� Focusrite 

   - �� AVID 

   - �� d&b audiotechnik 

   - �� Osborne & Little 

   - �� Period Mirrors 

   - �� Race Furniture 

   - �� Sound Space Vision 

   - �� White Light 

   - �� A special thanks to MDA and Clyde & Co for their unwavering support. 

- �� Terry Mansfield 

- �� Jim Mellon 

- �� Nick and Lucy Thomlinson 

## Also to: 

Our seat namers, private donors and all of those who wish to remain anonymous. 

- �� PF Charitable Trust 

- �� Philip Marsden Family Trust 

- �� Rivers Foundation 

- �� Dasha Shenkman 

- �� Social Investment for Business 

Page 29 

WHB ANNUAL REPORT & FINANCIAL STATEMENTS 2022 



World Heart Beat | Trustees Annual Report 

## Our Charity Supporters 

We would like to warmly acknowledge those who have supported our work: 

- �� Arts Council England 

- �� The Austin & Hope Pilkington Trust 

- �� The Radcliffe Trust 

- �� Battersea Power Station Foundation 

- �� Big Issue Social Enterprise Support Fund 

- �� D’Oyly Carte Charitable Trust 

- �� Greater London Authority (GLA) New Deal for Young People 

- �� The Helen Hamlyn Trust 

- �� Keystone Capital 

- �� The Worshipful Company of Builders Merchants 

- �� The Worshipful Company of Dyers 

- �� The Worshipful Company of Fan Makers 

- �� The Clothworks Foundation 

- �� London Community Energy Fund 

- �� Wavendon Foundation 

- �� Thomas’ Schools Foundation 

- �� The Thistle Trust 

## Also to: 

Our private donors and all of those who wish to remain anonymous 

- �� Jack Petchey Foundation 

- �� John Thaw Foundation 

- �� Makers of Playing Cards Charity (The Cutler Trust) 

- �� MacTaggart Third Fund 

And our appreciation for support in kind to: 

   - �� Baskerville Design 

   - �� The Big Yellow Self Storage Company 

   - �� Phil Conrad Photography 

- �� The Nugee Foundation 

- �� PPL 

_Note: funding and supporters, as at 31 August 2022._ 

- �� The PTL Foundation 

- �� Scrutton Estates Ltd 

- �� SIB -Reach Fund 

- �� Sir Walter St Johns Educational Charity 

- �� STRIDE 

- �� Surrey Square Charitable Trust 

- �� Trinity Buoy Wharf Trust 

- �� Tideway Community Fund 

- �� US Embassy London 

- �� Wandsworth Grant Fund 

- �� Wandsworth Youth Opportunity Fund 

- �� William Allen Young Charitable Trust 

Page 30 

WHB ANNUAL REPORT & FINANCIAL STATEMENTS 2022 



World Heart Beat | Trustees Annual Report 

## Independent Auditor’s Report Year Ended 31 August 2022 

## Opinion 

We have audited the financial statements of World Heart Beat Music Academy Limited (‘the Parent Charitable Company’) and its subsidiary or the year ended 31 August 2022 which comprise the consolidated statement of financial activities (including income and expenditure account), group statement of financial position, consolidated statement of cash flows and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice). 

In our opinion the financial statements: 

- �� give a true and fair view of the state of the Group’s and of the Parent Charitable Company’s affairs as at 31 August 2022 and of its incoming resources and application of resources, including its income and expenditure, for the year then ended; 

- �� have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; 

- �� have been prepared in accordance with the requirements of the Charities Act 2011. 

## Basis for opinion 

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our 

other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. 

## Conclusions relating to going concern 

In auditing the financial statements, we have concluded that the trustees’ use of the going concern basis of accounting in the preparation of the financial 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 significant doubt on the group and the Parent Charitable Company’s ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue. 

Our responsibilities and the responsibilities of the trustees with respect to going 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 financial statements and our auditor’s report thereon. The trustees are responsible for the other information. Our opinion on the financial statements 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 conclusion thereon. 

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in 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 there is a material misstatement in the financial statements or a material misstatement of the other information. 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. 

We have nothing to report in this regard. 

Page 31 

WHB ANNUAL REPORT & FINANCIAL STATEMENTS 2022 



World Heart Beat | Trustees Annual Report 

## Matters on which we are required to report by exception 

In the light of the knowledge and understanding of the charity and its environment obtained in the course of the audit, we have not identified material misstatements in the trustees’ report. 

We have nothing to report in respect of the following matters in relation to which the Charities Act 2011 requires us to report to you if, in our opinion: 

- �� the information given in the trustees’ report is inconsistent in any material respect with the financial statements; or 

- �� adequate accounting records have not been kept; or 

- �� the financial statements are not in agreement with the accounting records and returns; or 

- �� we have not received all the information and explanations we require for our audit 

- �� the Parent Charitable Company financial statements are not in agreement with the accounting records and returns 

## Responsibilities of trustees 

As explained more fully in the Statement of Trustees’ responsibilities, the Trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the Trustees determines is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the Trustees are responsible for assessing the Group’s and the Parent Charitable Company’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the Trustees either intend to liquidate the Group or the Parent 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 from material misstatement, 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 from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of 

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below: 

As part of an audit in accordance with ISAs (UK), we exercise professional judgment and maintain professional scepticism throughout the audit. We also: 

- �� Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control. 

- �� Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the internal control. 

- �� Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the trustees. 

- �� Conclude on the appropriateness of the trustees’ use of the going concern basis of 

Page 32 

WHB ANNUAL REPORT & FINANCIAL STATEMENTS 2022 



World Heart Beat | Trustees Annual Report 

accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the charity’s ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor’s report to the related disclosures in the financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor’s report. However, future events or conditions may cause the charity to cease to continue as a going concern. 

- �� Evaluate the overall presentation, structure and content of the financial statements, including the disclosures, and whether the financial statements represent the underlying transactions and events in a manner that achieves fair presentation. 

We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit. 

## Use of our report 

This report is made solely to the charity’s members, as a 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 charity’s members those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity and the charity’s members as a body, for our audit work, for this report, or for the opinions we have formed. 


Allan W McKelvie, F.C.A (Senior Statutory Auditor) 

For and on behalf of McKelvie & Co LLP Chartered accountants & statutory auditor 82 Wandsworth Bridge Road London UK SW6 2TF 

Date: 03 August 2023 

Page 33 

WHB ANNUAL REPORT & FINANCIAL STATEMENTS 2022 



## World Heart Beat Music Academy Limited 

Company Limited by Guarantee 

## Consolidated Statement of Financial Activities 

(Including income and expenditure account) 

Year ended 31 August 2022 

|||||**2022**|||2021|
|---|---|---|---|---|---|---|---|
|||Unrestricted||Restricted||||
||||funds|funds|**Total funds**||Total funds|
|||**Note**|**£**|**£**||**£**|£|
|**Income and endowments**||||||||
|Donations and legacies||**5**|326,901|2,601,042||**2,927,943**|766,769|
|Charitable activities||**6**|156,391|–||**156,391**|105,099|
|Other trading activities||**7**|–|–||**–**|630|
|Investment|income|**8**|1,466|–||**1,466**|419|
|Other income||**9**|7,043|–||**7,043**|37,467|
||||─────────|────────────|────────────||─────────|
|**Total income**|||491,801|2,601,042||**3,092,843**|910,384|
||||═════════|════════════|════════════||═════════|
|**Expenditure**||||||||
|Expenditure on raising funds:||||||||
||Costs of raising|||||||
||donations and legacies|<br>**10**|(109,552)||–|**(109,552)**|(65,058)|
|Expenditure on||||||||
|charitable activities<br>||**11,12**|(413,526)<br>(261,910)|||<br>**(675,436)**|(488,044)|
|Other expenditure||**14**||–|–|**–**|(16,246)|
||||─────────<br>─────────|||─────────|─────────|
|**Total expenditure**|||(523,078)<br>(261,910)|||<br>**(784,988)**|(569,348)|
||||═════════<br>═════════|||═════════|═════════|
||||─────────|────────────|────────────||─────────|
|**Net income and net movement in**||**funds**|(31,277)|2,339,132||**2,307,855**|341,036|
||||═════════|════════════|════════════||═════════|
|**Reconciliation of funds**||||||||
|Total funds|brought forward||313,771|619,186||**932,957**|591,921|
||||─────────|────────────|────────────||─────────|
|**Total funds carried forward**|||282,494|2,958,318||**3,240,812**|932,957|
||||═════════|════════════|════════════||═════════|



The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities. 

34 



World Heart Beat Music Academy Limited Company Limited by Guarantee 

## Charity & Group Statement of Financial Position 

## 31 August 2022 

|||Group|Group|Charity|Charity|
|---|---|---|---|---|---|
|||2022|2021|2022|<br>2021|
||**Note**|**£**|**£**|**£**|**£**|
|**Fixed assets**||||||
|Intangible assets|**19**|**5,722**|**7,631**|**5,722**|**7,631**|
|Tangible fixed assets||||||
||**20**|**2,842,012**|**364,270**|**80,753**|**56,962**|
|Investments|**21**|**-**|-|**100**|**100**|
|||────────|────────|<br>──────── ───────||
|||**2,847,734**|**371,901**|**86,575**|**64,693**|
|**Current Assets**|**22**|**307,506**|**39,564**|**83,520**|**27,640**|
|Debtors||**372,558**|**638,108**|**346,904**|**636,376**|
|Cash at bank and in hand||||||
|||─────────|─────────|───────── ───────||
|||**680,064**|**677,672**|**430,424**|**664,016**|
|**Creditors: amounts falling due**||||||
|**within one year**||||||
||**23**|**(278,281)**|**(71,976)**|**(98,431)**|**(64,630)**|
|||─────────|─────────|───────── ───────||
|**Net current assets**||**401,783**|**605,696**|**331,993**|**599,386**|
|||─────────|─────────|───────── ───────||
|**Total assets less current liabilities**||**3,249,517**|**977,597**|**418,568**|**664,079**|
|**Creditors: amounts falling due**||||||
|**after more than one year**||||||
||**24**|**(8,705)**|**(44,640)**|**(8,705)**|**(44,640)**|
|||─────────|─────────|─────────|──────|
|**Net assets**||**3,240,812**|**932,957**|**409,863**|**619,439**|
|||═════════|═════════|═════════|══════|
|**Funds of the charity**||||||
|**Restricted funds**||**2,958,318**|**619,186**|**135,431**|**305,668**|
|**Unrestricted funds**||**282,494**|**313,771**|**274,432**|**313,771**|
|||─────────|─────────|───────── ────────||
|**Total charity funds**||**3,240,812**|**932,957**|**409,863**|**619,439**|
|||═════════|═════════|═════════|═════════|



35 



World Heart Beat Music Academy Limited 

Company Limited by Guarantee 

## Charity & Group Statement of Financial Position (continued) 

## 31 August 2022 

These financial statements were approved by the board of trustees and authorised for issue on 03 /0 8 /2023 and are signed on behalf of the board by: 


Mrs R van Walsum Trustee 

36 



## World Heart Beat Music Academy Limited 

Company Limited by Guarantee 

## Consolidated Statement of Cash Flows 

|Year ended 31 August 2022|**2022**|2021|
|---|---|---|
||**£**|£|
|**Cash flows from operating activities**|**2,307,855**|341,036|
|Net income|||
|_Adjustments for:_|**18,928**|8,748|
|Depreciation of tangible fixed assets|**1,909**|7,629|
|Amortisation of intangible assets|**(1,466)**|(419)|
|Dividends, interest and rents from investments|**7,999**|2,956|
|Interest payable and similar charges|**–**|16,246|
|Loss on disposal of tangible fixed assets|||
|_Changes in:_|**(267,942)**|(12,055)|
|Trade and other debtors|**206,305**|(20,792)|
|Trade and other creditors|────────────|─────────|
||**2,273,588**|343,349|
|Cash generated from operations|**(7,999)**|(2,956)|
|Interest paid|────────────|─────────|
||**2,265,589**|340,393|
|Net cash from operating activities|════════════|═════════|
|**Cash flows from investing activities**<br>Dividends, interest and rents from investments|**1,466**<br>**(2,496,670)**|419<br>(237,964)|
|Purchase of tangible assets|**–**|6,616|
|Proceeds from sale of tangible assets|────────────|─────────|
||**(2,495,204)**|(230,929)|
|Net cash used in investing activities|════════════|═════════|
|**Cash flows from financing activities**|**(35,935)**|(11,175)|
|Proceeds from borrowings|────────────|─────────|
||**(35,935)**|(11,175)|
|Net cash used in financing activities|════════════|═════════|
||**(265,550)**|98,289|
|**Net (decrease)/increase in cash and cash equivalents**|**638,108**|539,819|
|**Cash and cash equivalents at beginning of year**|─────────|─────────|
||**372,558**|638,108|
|**Cash and cash equivalents at end of year**|═════════|═════════|



37 



World Heart Beat Music Academy Limited Company Limited by Guarantee 

## Notes to the Financial Statements 

## Year ended 31 August 2022 

## **1. General information** 

The charity is a public benefit entity and a private company limited by guarantee, registered in England and Wales and a registered charity in England and Wales. The address of the registered office is 45 Gartmoor Gardens, London, SW19 6NX. 

## **2. Statement of compliance** 

These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', the 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) (Charities SORP (FRS 102)) and the Companies Act 2006. 

## **3. Accounting policies** 

## **Basis of preparation** 

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through income or expenditure. 

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

## **Going concern** 

There are no material uncertainties about the charity's ability to continue. The financial statements have been prepared on the going concern basis. The trustees have assessed group's ability to continue as a going concern for twelve months after the signing of the 2021/22 accounts. 

## **Judgements and key sources of estimation uncertainty** 

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. 

## **Fund accounting** 

Unrestricted funds are available for use at the discretion of the trustees to further any of the charity's purposes. 

Designated funds are unrestricted funds earmarked by the trustees for particular future project or commitment. 

Restricted funds are subjected to restrictions on their expenditure declared by the donor or through the terms of an appeal, and fall into one of two sub-classes: restricted income funds or endowment funds. 

38 



World Heart Beat Music Academy Limited Company Limited by Guarantee 

## Notes to the Financial Statements (continued) 

## Year ended 31 August 2022 

**3. Accounting policies** _**(continued)**_ 

## **Incoming resources** 

All incoming resources are included in the statement of financial activities when entitlement has passed to the charity; it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income: 

- income from donations or grants is recognised when there is evidence of entitlement to the gift, receipt is probable and its amount can be measured reliably. 

- legacy income is recognised when receipt is probable and entitlement is established. 

- income from donated goods is measured at the fair value of the goods unless this is impractical to measure reliably, in which case the value is derived from the cost to the donor or the estimated resale value. Donated facilities and services are recognised in the accounts when received if the value can be reliably measured. No amounts are included for the contribution of general volunteers. 

- income from contracts for the supply of services is recognised with the delivery of the contracted service. This is classified as unrestricted funds unless there is a contractual requirement for it to be spent on a particular purpose and returned if unspent, in which case it may be regarded as restricted. 

## **Resources expended** 

Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings of the statement of financial activities to which it relates: 

- expenditure on raising funds includes the costs of all fundraising activities, events, non-charitable trading activities, and the sale of donated goods. 

- expenditure on charitable activities includes all costs incurred by a charity in undertaking activities that further its charitable aims for the benefit of its beneficiaries, including those support costs and costs relating to the governance of the charity apportioned to charitable activities. 

- other expenditure includes all expenditure that is neither related to raising funds for the charity nor part of its expenditure on charitable activities. 

All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs are apportioned between the activities they contribute to on a reasonable, justifiable and consistent basis. 

## **Intangible assets** 

Intangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated amortisation and impairment losses.  Any intangible assets carried at revalued amounts, are recorded at the fair value at the date of revaluation, as determined by reference to an active market, less any subsequent accumulated amortisation and subsequent accumulated impairment losses. 

39 



World Heart Beat Music Academy Limited Company Limited by Guarantee 

## Notes to the Financial Statements (continued) 

## Year ended 31 August 2022 

## **3. Accounting policies** _**(continued)**_ 

## **Intangible assets** _**(continued)**_ 

Intangible assets acquired as part of a business combination are only recognised separately from goodwill when they arise from contractual or other legal rights, are separable, the expected future economic benefits are probable and the cost or value can be measured reliably. 

## **Amortisation** 

Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows: 

Website development - 25% straight line on cost 

If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates. 

## **Tangible assets** 

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. 

An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other recognised gains and losses, unless it reverses a charge for impairment that has previously been recognised as expenditure within the statement of financial activities.  A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other recognised gains and losses, except to which it offsets any previous revaluation gain, in which case the loss is shown within other recognised gains and losses on the statement of financial activities. 

## **Depreciation** 

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows: 

Short leasehold property - written off over the term of the lease Musical instruments - 10% reducing balance - Fixtures and fittings 20% reducing balance - Equipment 20% reducing balance 

## **Investments** 

Unlisted equity investments are initially recorded at cost, and subsequently measured at fair value. If fair value cannot be reliably measured, assets are measured at cost less impairment. 

Listed investments are measured at fair value with changes in fair value being recognised in income or expenditure. 

40 



World Heart Beat Music Academy Limited Company Limited by Guarantee 

## Notes to the Financial Statements (continued) 

## Year ended 31 August 2022 

**3. Accounting policies** _**(continued)**_ 

## **Impairment of fixed assets** 

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. 

For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. 

For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the charity are assigned to those units. 

## **Financial instruments** 

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. 

Basic financial instruments are initially recognised at the amount receivable or paable including any related transaction costs, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. 

Current assets and current liabilities are subsequently measured at the cash or other consideration expected to be paid or received and not discounted. 

## **Defined contribution plans** 

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. 

When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as an expense in the period in which it arises. 

## **Group accounts** 

Group accounts have been prepared for World Heart Beat Music Academy limited, and its wholly owned subsidiary company, World Heart Beat CIC, in accordance with the requirements of FRS102. The accounts have been consolidated on a line by line basis to include the results of World Heart Beat CIC. The results of World Heart Beat CIC are shown in note 29. In accordance with section 408 of the Companies Act 2006, no individual statement of financial activities has been prepared for the parent company, World Heart Beat Music Academy Limited. 

41 



World Heart Beat Music Academy Limited 

Company Limited by Guarantee 

## Notes to the Financial Statements (continued) 

## Year ended 31 August 2022 

## **4. Limited by guarantee** 

Every member of the company undertakes to contribute such amount as may be required (not exceeding £1) to the company's assets if it should be wound up while he or she is a member for payment of the charity's debts and liabilities contracted before he or she ceases to be a member and of the costs, charges and expenses of winding up and for the adjustment of the rights of the contributories among themselves 

## **5. Donations and legacies** 

||Unrestricted<br>Restricted|Unrestricted<br>Restricted|**Total Funds**|**Total Funds**|
|---|---|---|---|---|
||Funds<br>Funds|||**2022**|
||£|£||**£**|
|**Donations**|||||
|Donations|67,536|2,298,634||**2,366,170**|
|Gift aid|65,854|–||**65,854**|
|**Grants**|||||
|Grants|165,511|302,408||**467,919**|
|**Sponsorship**|||||
|Corporate sponsorship|28,000|–||**28,000**|
||─────────<br>────────────||<br>────────────||
||326,901|2,601,042||**2,927,943**|
||═════════<br>════════════||<br>════════════||
||Unrestricted<br>Restricted||Total Funds||
||Funds|Funds||2021|
||£|£||£|
|**Donations**|||||
|Donations|38,806|252,400||291,206|
|Gift aid|||||
||–||–|–|
|**Grants**|||||
|Grants|302,776|<br>172,787||475,563|
|**Sponsorship**|||||
|Corporate sponsorship|–||–|–|
||─────────|─────────||─────────|
||341,582|<br>425,187||<br>766,769|
||═════════|═════════||═════════|



42 



World Heart Beat Music Academy Limited 

Company Limited by Guarantee 

## Notes to the Financial Statements (continued) 

## Year ended 31 August 2022 

## **6. Charitable activities** 

|||**Total**||Total|
|---|---|---|---|---|
||Unrestricted|**Funds**|Unrestricted|Funds|
||Funds|**2022**|Funds|2021|
||£|**£**|£|£|
|Music Tuition|132,492|**132,492**|93,487|93,487|
|Music Examinations|5,369|**5,369**|2,780|2,780|
|Concert revenue|18,530|**18,530**|8,832|8,832|
||─────────|─────────|─────────|─────────|
||156,391|**156,391**|105,099|105,099|
||═════════|═════════|═════════|═════════|



## **7. Other trading activities** 

|||**Total**|||
|---|---|---|---|---|
||Restricted|**Funds**|Restricted|Total Funds|
||Funds|**2022**|Funds|2021|
||£|**£**|£|£|
|Non-charitable trading|–|**–**|630|<br>630|



## **8. Investment income** 

**Total** Unrestricte **Funds** Unrestricte Total Funds d Funds **2022** d Funds 2021 £ **£** £ £ Deposit account interest 1,466 **1,466** 419 419 ═══════ ═══════ ════ ════ **Other income Total** Unrestricte **Funds** Unrestricte Total Funds d Funds **2022** d Funds 2021 £ **£** £ £ Other income 7,043 **7,043** 37,467 37,467 

## **9. Other income** 

43 



World Heart Beat Music Academy Limited 

Company Limited by Guarantee 

## Notes to the Financial Statements (continued) 

## Year ended 31 August 2022 

## **10. Costs of raising donations and legacies** 

|||||**Total**|
|---|---|---|---|---|
|||Unrestricte|Restricted|**Funds**|
|||d Funds|Funds|**2022**|
|||£|£|**£**|
||Costs of raising donations and legacies - Donations|109,552|–|**109,552**|
|||═════════|════|═════════|
|||Unrestricte|Restricted|Total Funds|
|||d Funds|Funds|2021|
|||£|£|£|
||Costs of raising donations and legacies - Donations|51,858|13,200|<br>65,058|
|||════════|════════|════════|
|**11.**|**Expenditure on charitable activities by fund type**||||
|||||**Total**|
|||Unrestricte|Restricted|**Funds**|
|||d Funds|Funds|**2022**|
|||£|£|**£**|
||Music tuition|29,657|196,526|<br>**226,183**|
||Music examination|4,386|–|**4,386**|
||Events and concerts|13,999|–|**13,999**|
||Support costs|365,484|65,384|<br>**430,868**|
|||─────────|─────────|─────────|
|||413,526|261,910|<br>**675,436**|
|||═════════|═════════|═════════|
|||Unrestricte|Restricted|Total Funds|
|||d Funds|Funds|2021|
|||£|£|£|
||Music tuition|28,683|168,749|<br>197,432|
||Music examination|2,488|–|2,488|
||Events and concerts|4,401|–|4,401|
||Support costs|201,540|82,183|<br>283,723|
|||─────────|─────────|─────────|
|||237,112|250,932|<br>488,044|



44 



World Heart Beat Music Academy Limited Company Limited by Guarantee 

## Notes to the Financial Statements (continued) 

Year ended 31 August 2022 

## **12. Expenditure on charitable activities by activity type** 

||Activities||||
|---|---|---|---|---|
||undertaken||**Total funds**|Total fund 20|
||directly|Support costs|**2022**|21|
||£|£|**£**|£|
|Music tuition|226,183|330,073|**556,256**|418,131|
|Music|||||
|examination|4,386|20,626|**25,012**|16,588|
|Events and|||||
|concerts|13,999|60,969|**74,968**|45,325|
|Governance|||||
|costs|–|19,200|**19,200**|8,000|
||─────────|─────────|─────────|─────────|
||244,568|430,868|**675,436**|488,044|
||═════════|═════════|═════════|═════════|



## **13. Analysis of support costs** 

|||Music||||
|---|---|---|---|---|---|
||Music|examin|Events and|||
||tuition|ation|concerts|**Total 2022**|Total 2021|
||£|£|£|**£**|£|
|Staff costs|191,727|11,982|<br>35,951|**239,660**|131,389|
|Premises|14,543|908|<br>2,727|**18,178**|16,254|
|Communications||||||
|and IT|4,550|285|<br>853|**5,688**|5,879|
|General office|9,122|570|<br>1,711|**11,403**|15,108|
|Finance costs|7,738|483|<br>1,451|**9,672**|4,190|
|Governance||||||
|costs|15,360|960|<br>2,880|**19,200**|8,000|
|Depreciation|16,671|1,041|<br>3,125|**20,837**|13,986|
|Advertising|11,136|696|<br>1,166|**12,998**|8,990|
|Travelling|8,723|545|<br>1,636|**10,904**|5,304|
|Miscellaneous||||||
|expenses|14,908|932|<br>2,794|**18,634**|16,879|
|Repairs and||||||
|renewals|7,951|497|<br>1,491|**9,939**|13,008|
|Professional||||||
|fees|43,004|2,687|<br>8,064|**53,755**|44,736|
||─────────|────────|────────|─────────|─────────|
||345,433|21,586|<br>63,849|**430,868**|283,723|
||═════════|════════|════════|═════════|═════════|



Support costs attributable to more than one activity are allocated in proportion to staff time spent on the activities. The proportions are 80% Music tuition, 5% Music examination and 15% Events & concerts. 

45 



## World Heart Beat Music Academy Limited 

Company Limited by Guarantee 

## Notes to the Financial Statements (continued) 

Year ended 31 August 2022 

## **14. Other expenditure** 

|||||Unrestri|Total|
|---|---|---|---|---|---|
|||Unrestricted|<br>**Total Funds**|<br>cted|Funds|
|||Funds|<br>**2022**|Funds|2021|
|||£|**£**|£|£|
||Loss on disposal of tangible fixed|||||
||assets held for charity's own use|–|<br>**–**|16,246|16,246|
|||════|<br>════|<br>════════|════════|
|**15.**|**Net income**|||||
|Net income is stated after charging/(crediting):||||||
|||||**2022**|2021|
|||||**£**|£|
||Amortisation of intangible assets|||**1,909**|7,629|
||Depreciation of tangible fixed assets|||**18,928**|8,748|
||Loss on disposal of tangible fixed assets|||**–**|16,246|
|||||════════|════════|
|**16.**|**Independent examination/auditor fees**|||||
|||||**2022**|2021|
|||||**£**|£|
|Fees|payable to the independent examiner/auditor for:|||||
||Audit of the financial statement – subsidiary|||**3,200**|**–**|
||Audit of the financial statement - charity|||**16,000**|**–**|
||Independent examination of the financial|statements - charity||**–**|4,800|
|||||════|═══════|
|**17.**|**Staff costs**|||||
|The total staff costs and employee benefits for||the reporting|period are analysed as follows:|||
|||||**2022**|2021|
|||||**£**|£|
||Wages and salaries|||**331,147**|199,560|
||Social security costs|||**30,976**|16,091|
||Employer contributions to pension plans|||**9,315**|4,300|
|||||─────────|─────────|
|||||**371,438**|219,951|
|||||═════════|═════════|



46 



World Heart Beat Music Academy Limited 

Company Limited by Guarantee 

## Notes to the Financial Statements (continued) 

Year ended 31 August 2022 

The average head count of employees during the year was 10 (2021: 6). The average number of full-time equivalent employees during the year is analysed as follows: 

||**2022**|2021||
|---|---|---|---|
||**No**|||
||**.**|No.||
|Chief Executive|**1**||1|
|Artistic Director|**1**||1|
|Administration and Support|**8**||4|
||────|────||
||**10**||6|
||════|════||



The number of employees whose remuneration for the year was over £60,000 were: 

|2022|2021|
|---|---|
|No.|No.|
|2|-|



_____ _____ 

47 



World Heart Beat Music Academy Limited 

Company Limited by Guarantee 

## Notes to the Financial Statements (continued) 

## Year ended 31 August 2022 

## **18. Trustee remuneration and expenses** 

No remuneration or other benefits from employment with the charity or a related entity were received by the trustees for the year ended 31 August 2022 (2021: nil) 

No trustee expenses have been incurred for the year ended 31 August 2019 (2018: nil) 

## **19. Intangible assets** 

||**Website**|
|---|---|
||**develop**|
||**ment**|
||**£**|
|**Cost**||
|**At 1 September 2021 and 31 August 2022**|**22,890**|
||════════|
|**Amortisation**||
|At 1 September 2021|**15,259**|
|Charge for the year|**1,909**|
||────────|
|**At 31 August 2022**|**17,168**|
||════════|
|**Carrying amount**||
|**At 31 August 2022**|**5,722**|
||════════|
|At 31 August 2021|7,631|
||════════|



48 



World Heart Beat Music Academy Limited 

Company Limited by Guarantee 

## Notes to the Financial Statements (continued) 

## Year ended 31 August 2022 

## **20. Tangible fixed assets** 

||Land and|Musical|Fixtures|||
|---|---|---|---|---|---|
||buildings|instruments|and fittings|Equipment|**Total**|
||£|£|£|£|**£**|
|**Cost**||||||
|At 1 September 2021|305,299|<br>51,606|28,776|48,106|**433,787**|
|Additions|2,417,114|<br>18,031|8,547|52,978|**2,496,670**|
||────────────|────────|────────|─────────|────────────|
|**At 31 August 2022**|2,722,413|<br>69,637|37,323|101,084|**2,930,457**|
||════════════|════════|════════|═════════|════════════|
|**Depreciation**||||||
|At 1 September 2021|22,056|<br>10,480|17,211|19,770|**69,517**|
|Charge for the year|–|5,916|2,620|10,392|**18,928**|
||────────────|────────|────────|─────────|────────────|
|**At 31 August 2022**|22,056|<br>16,396|19,831|30,162|**88,445**|
||════════════|════════|════════|═════════|════════════|
|**Carrying amount**||||||
|**At 31 August 2022**|2,700,357|<br>53,241|17,492|70,922|**2,842,012**|
||════════════|════════|════════|═════════|════════════|
|At 31 August 2021|283,243|<br>41,126|11,565|28,336|364,270|
||════════════|════════|════════|═════════|════════════|



## **Land and building is under construction** 

## **Tangible fixed assets Charity** 

||Land and<br>buildings|Musical<br>instruments|Fixtures<br>and<br>fittings|Equipment|**Total**|
|---|---|---|---|---|---|
||£|£|£|£|**£**|
|**Cost**||||||
|At 1 September 2021|22,057|51,606|28,776|18,976|**121,415**|
|Additions|–|18,031|222|18332|**36,585**|
|Disposals|–|–|–|–|–|
||────────|─────────|────────|────────|─────────|
|**At 31 August 2022**|22,057|69,637|28,998|37,308|158,000|
||════════|═════════|════════|════════|═════════|
|**Depreciation**||||||
|At 1 September 2021|22,056|10,480|17,211|14,706|**64,453**|
|Charge for the year|–|5,916|2,358|4520|**12,794**|



49 



Company Limited by Guarantee 

## World Heart Beat Music Academy Limited 

## Notes to the Financial Statements (continued) 

Year ended 31 August 2022 

||–|–|–|–|–|
|---|---|---|---|---|---|
|Disposals||||||
||────────|─────────|────────|────────|─────────|
|**At 31 August 2022**|22,056|16,396|19,569|19,226|**77,247**|
||════════|═════════|════════|════════|═════════|
|**Carrying amount**||||||
|**At 31 August 2021**|1|41,126|11,565|4,270|**56,962**|
||════════|═════════|════════|════════|═════════|
|At 31 August 2022|1|53,241|9,429|18,082|**80,753**|
||════════|═════════|════════|════════|═════════|



## **21. Investments in Subsidiaries** 

## **Charity** 

||**Total**|
|---|---|
||**£**|
|**Carrying amount**||
|**At 31 August 2022**|**100**|
||════|
|At 31 August 2021|100|
||════|



The following was a subsidiary undertaking at the year end: 

|Country of Incorporation|Holding|Proportion held||
|---|---|---|---|
|World Heart Beat CIC|UK|Shares|100%|
|Company no. 11221741||||



Registered office: 82 Wandsworth Bridge Road London SW6 2TF 

50 



World Heart Beat Music Academy Limited 

Company Limited by Guarantee 

## Notes to the Financial Statements (continued) 

## Year ended 31 August 2022 

## **22. Debtors** 

|**22.**<br>**Debtors**|||||
|---|---|---|---|---|
|||**Group**||**Charity**|
||**2022**|**2021**|**2022**|**2021**|
||**£**|**£**|**£**|**£**|
|Trade debtors|**69,782**|**25,515**|**69,782**|**25,515**|
|Amount owed to group undertakings|**-**|**-**|**12,829**|**2,026**|
|Other Debtors|**237,724**|**14,049**|**909**|**99**|
||────────|────────|────────|────────|
||**307,506**|**39,564**|**83,520**|**27,640**|
||════════|════════|════════|════════|



## **23. Creditors: amounts falling due within one year** 

|**23.**<br>**Creditors: amounts falling due within one year**|||||
|---|---|---|---|---|
|||**Group**||**Charity**|
||**2022**|**2021**|**2022**|**2021**|
||**£**|**£**|**£**|**£**|
|Bank loans and overdrafts|**39,942**|**39,942**|**39,942**|**39,942**|
|Trade creditors|**189,048**|**13,665**|**12,398**|**12,039**|
|Accruals and deferred income|**15,300**|**10,045**|**12,100**|**4,325**|
|Amount owed to group undertakings|||||
|Social security and other taxes|**29,671**|**6,572**|**29,671**|**8,324**|
|Other creditors|**4,320**|**1,752**|**4,320**|**-**|
||────────|────────|────────|────────|
||**278,281**|**71,976**|**98,431**|**64,630**|
||════════|════════|════════|════════|
|**24. Creditors: amounts falling due after more than**|||||
|**one year**|||||
|||**Group**||**Charity**|
||**2022**|**2021**|**2022**|**2021**|
||**£**|**£**|**£**|**£**|
|Bank loans|**8,705**|**44,640**|**8,705**|**44,640**|
||════════|════════|════════|════════|



## **25. Pensions and other post-retirement benefits** 

## **Defined contribution plans** 

The amount recognised in income or expenditure as an expense in relation to defined contribution plans was £9,315 (2021: £4,300). 

51 



World Heart Beat Music Academy Limited 

Company Limited by Guarantee 

## Notes to the Financial Statements (continued) 

## Year ended 31 August 2022 

## **26. Analysis of charitable funds** 

## **Unrestricted funds** 

|**Unrestricted funds**|||||
|---|---|---|---|---|
|||||**At**|
||At 1 Sep|||**31 August**|
||2021|Income|Expenditure|**2022**|
||£|£|£|**£**|
|General funds|313,771|<br>491,801|(523,078)|**282,494**|
||═════════|═════════|═════════|═════════|
|||||At|
||At 1 Sep|||31 August|
||2020|Income|Expenditure|2021|
||£|£|£|£|
|General funds|134,420|<br>484,567|(305,216)|313,771|
||═════════|═════════|═════════|═════════|
|**Restricted funds**|||||
|||||**At**|
||At 1 Sep|||**31 August**|
||2021|Income|Expenditure|**2022**|
||£|£|£|**£**|
|Restricted funds|619,186|2,601,042|(261,910)|**2,958,318**|
||─────────|────────────|─────────|────────────|
||619,186|<br>2,601,042|(261,910)|**2,958,318**|
||═════════|════════════|═════════|════════════|
||At|||At|
||1 Sep|||31 August|
||2020|Income|Expenditure|2021|
||£|£|£|£|
|Restricted funds|388,834|425,817|(194,185)|<br>619,186|
||─────────|─────────|─────────|─────────|
||457,501|<br>425,817|(264,132)|<br>619,186|
||═════════|═════════|═════════|═════════|



52 



World Heart Beat Music Academy Limited 

Company Limited by Guarantee 

## Notes to the Financial Statements (continued) 

## Year ended 31 August 2022 

## **27. Analysis of net assets between funds** 

||||**Total**|
|---|---|---|---|
||Unrestricted|Restricted|**Funds**|
||Funds|Funds|**2022**|
||£|£|**£**|
|Intangible assets|5,722|–|**5,722**|
|Tangible fixed assets|88,815|2,753,197|**2,842,012**|
|Current assets|246,446|433,618|**680,064**|
|Creditors less than 1 year|(58,489)|(219,792)|**(278,281)**|
|Creditors greater than 1 year|–|(8,705)|**(8,705)**|
||─────────|────────────|────────────|
|**Net assets**|282,494|2,958,318|**3,240,812**|
||═════════|════════════|════════════|
||||Total|
||Unrestricted|Restricted|Funds|
||Funds|Funds|2021|
||£|£|£|
|Intangible assets|7,631|–|7,631|
|Tangible fixed assets|56,962|307,308|<br>364,270|
|Investments||||
||–|–|–|
|Current assets|273,766|403,806|<br>677,572|
|Creditors less than 1 year|(24,588)|<br>(47,288)|<br>(71,876)|
|Creditors greater than 1 year|–|(44,640)|<br>(44,640)|
||─────────|─────────|─────────|
|**Net assets**|313,771|619,186|<br>932,957|
||═════════|═════════|═════════|



## **28. Analysis of changes in net debt** 

||||**At**|
|---|---|---|---|
||At||**31 Aug**|
||1 Sep 2022|Cash flows|**2022**|
||£|£|**£**|
|Cash at bank and in hand|638,108|(265,550)|**372,558**|
|Debt due within one year|(39,942)|–|**(39,942)**|
|Debt due after one year|(44,640)|35,935|**(8,705)**|
||─────────|─────────|─────────|
||553,526|(229,615)|**323,911**|
||═════════|═════════|═════════|



53 



World Heart Beat Music Academy Limited Company Limited by Guarantee 

## Notes to the Financial Statements (continued) 

## Year ended 31 August 2022 

## **29. Related parties** 

During the year the Charity paid Grants of £2,576,500 to its wholly owned subsidiary World Heart Beat CIC registered in England and Wales registration number 11221741. The Grant has been made to fund the new World Heart Beat building where World Heart Beat CIC has an asset lock on the new facility and also to fund the initial set up and running costs of the World Heart Beat CIC. The World Heat Beat CIC is the social enterprise for World Heart Beat Music Academy Ltd with the purpose of ensuring future sustainability to the charity. 

## **World Heart Beat CIC** 

Income statement 

||2022|2021|
|---|---|---|
||£|£|
|Administrative expenses|(59,068)|(69,297)|
|Grant from holding company and other income|2,576,500.|294,630|
||-------------|-------------|
|Profit for the financial|2,517,432|225,333|



As of 31 August 2022 World Heart Beat CIC had a total assets of £3,023,729 (2021 £322,990) and total liabilities of £192,679 ( 2021 £9,372). 

54