REGISTERED CHARITY NUMBER: 1145472
Report of the Trustees and
Unaudited FinanGio1 Staternents for the Year Ended 31 Juty 2024
for
The Rhythm Studio Foundatlon CIO
Blac&wood Futther & Co.
Charlered Accountants
9 St George's Yard
Farnham
Sutrey
GU9 7LW

.. The Rhythm Studio Foundation CIO
Contents of the Financial Statements
for the Year Ended 31 July 2024
Page
Report of the Trustees
Independent Examineffs Report
Statement of FinancFal Activities
Balance Sheet
10
Notes to the Flnancial Statements
11 to 15
Detailed Statement of Financial Activities
16

The Rhythm Studio Foundation CIO
Report of the T￿￿teeS
for the Year Ended 31 Juty 2024
The charity is the Suc￿$S0r to The Rhythm Studio Foundation (registered charity number 1145472), which was
established by a declaration of trust dated 16 January 2012. wth subsequent amendments. h was registered as a
Charitable In￿rPOrated Organisation on 10 October 2023. On 10 January 2024 all the activities. assets and liabilities of
the incorporated charrly were transferred by deed to Ihis Charitable Incorporated Organis8ti0n.
OBJECTIVES AND ACTlVtTIES
Policies and objectives
The Rhythm Studio FoLFndalion {'RSF'? was founded in 2011 with the goal of Iransfomiing the lives of young people
through musi
'We believe young people deseNe the Chan￿ to transfomi or enrith the￿ lives through music, whatever their
background or their personal circurnstances.". Mission stslement
In association with The Rhylhm Studio Academy of Music ("RSAM￿, we work wilh schwls. hospitals and community
groups to provide opportunities to e¢oF￿rnica1IY underprivileged and soryally disadvantaged young people have
limited access lo music-making.
ACTIVITIES FOR ACHIEVING OBJECTIVES
School workshops
We deliver pop and rock music workshops that allow local primary school children to experience the excitement of
ollaborative music-making. The worf(shops include Creative music technology sessions using computers and tablets.
and pop thoir and rock band sessions culminating in a live performan￿ at the end of term. SecoTrJary school sessions
ftjcus on creative music technology using Logic Pro X soflware.
Hospital workshops
We carry out a program of weekty inspirdtional music workshops on the paedialric wards of local hospitals at Sl Mary's,
Paddington with the Imperial Health Charity and Chelsea & Weslminster Hospital with the CW Plus Charity. We also
have a Young Patienls Programme providing on&t04Jne music lessons via Zoom. This scheme is open to young
people, aged 8-18 who have medical conditions that mean they need to shield al home, have limited access to activities
due to medical issues or whose well-being or mental-heaFth would improve by having music lessons.
Provision of Scholarships and Bursaries
The RSF Scholarship is an annual award aimed at talented and passionate 11 tr) 18 year-old musicians in need of
financial support to help reaGh their full potential. We fund weekly lessons on drums. guitar. boss, piartro, vocals or music
techllology. st￿dents also experien￿ rAawng in bands. performiThJ live and recording as well as menloriro from music
industry piofessionals.
Page 1

The Rhythm Studio Foundation CIO
Report of the Trustees
for the Year Ended 31 July 2024
ACHIEVEMENT AND PERFORMANCE
Going concern
After making appropriate enquiries. the Iruslees have a reasonable expectation that the tharity has adequate resourees
to continue in operational existence for the foreseeable fulute. For this reason. they continue lo adopt the going COn￿M
basis in preparing the financial stalemenls. Further details regarding the adOpt￿)n of the going concem basis Can be
found in the Accounting Policies
Review of activltles
The Rhythrn Sludio Foundation {RSF) delivers music activtties from ils base at The Rhyihm Studio Academy of Music
(RSAMI at West London College as well as off-site at a neiwoth of local schools. community centres and h05pilals. RSF
works closely wth The Triborough Music Hub and its work is wedominantty focused in the tÉJroughs of Kensington &
Chelsea, Hammersmilh & Fulham and Westminster.
Schools
In 2023r24 over 5CQ thildren participated in the musrc workshop programme whiGh 15 Ihe second year that this number
has been achieved. We now have active partnerships with 8 schools in the Tri-borough area of Weslminsler,
Ken￿ngton & Chelsea and Hammersmith & Fulham. We worked with four local primary schools in the North Kensington
area - St Peters CE Primary School. Ark Alwood AGademy. Ath Brunel Academy and Sl Mary's RC Primary School. In
Hammersmith & Fulham. wilhin walking distance of The Rhythm Studio. our partner 5thools were - Avonrnore Primary
School, St Pauls CE Primary Schwl, Addison Primary School and Lamenier & Sacred Heart Catholic Primary School.
The Rhythm Studio FoundaticK)'s Primary Schools programme provided a unique music experience for children
delivered in a relevant, current and relatabie manner. Pupils leaml musical concepts and skills in fun. interactive and
accessible sessions wth plenly of Conf￿enCe&b9osIIng opportunities lo perform in front of peers on weekly basis. These
workshops allowed pupils to leam drums. guitsr. bass or vocals and come logether lo form bands, as well as crealing
music using Logic Pro. GarageBand on iPads or BandLab software. The programme continued lo be supported by John
Lyon's Charity, wlh workshops tsking pla￿ al RSAM'S music studios in Wesl Kensington as well as at sGhools'
premises.
One of the key features of the programme was the high staff lo pupil ratio where iPad ¢lasses of 15 had a lead and
assislant tutor, Bandlab classes of 30 had 2 lead tutor and 2 assistants and the Band sessior¢s al The Rhyihm Studio
had 3 lutors for up to 10 pupils. At the end of each programme, pupils were signposted to free or low-cost fnusic-making
opportunities that exist in the local area. including applwng for The Rhythm Studio Foundation's annual Scholarship
S¢heme.
A highlight of the year was when Ed Sheeran made a surprtse vtsit lo the studio and met Year 5 pupils from Addison
Primary School. listened to their Compositio￿ and vrdtched Ihem perform D￿amS by Fleetwood Mac.
Teachers have said:
'The performances were absolutety fantastic - il was wonderful to see the finished videos and band perforrnance and
see our stLFdents perforrn at a high level. This gave them a h)t of pride in their own abilities and il was also wonderful
they could share il with their families. l think it was also so good for their families and the school to See what young
people can achieve when given access to quality instruments and tU￿on.._ Year 5 teacher
"Il r88lly focuses on Ihe creative aspect of music, rather than theoretical or technical. which really emphasises the fun
de of music learning and creation.". Year S tearher
For most of them. ifs a completely new experience, and a lot of them were inspired to go on Garageband themselves al
home. This is especially important for the children at our ￿h0O1, who often come from quite difficult or deprive(I home
backgrounds." _ Year 5 teacher
.1 think the collaboration is brilliant and all the teachers at the RSF were great to woth wth. I learn every tirne I visit more
about music arKI encouraging children to have an inwt in sorne of the decTsK)rts made."
Year 6 teather
Page 2

The Rhythm Studio Foundation CIO
Report of the Trustees
for the Year Ended 31 July 2024
Pupils have said:
"l enjoyed leaming and understanding new songs. singing them with my friends and also leaming how lo be in tem
and lo adapt certain techniques while singing with the band. It was a great experience and I would love to have a
chance lo do it againlry
Year 6 Pupil
"I had a fabulous time. Seeing as I love music it Wds one of the best experiences l ever had - highly recommend."
Year 6 pupil
"The best thir)g about working as a team ts getttng to know each other better aTMJ leaTning abLMJt the rnusiG my partner
likes. Sometimes we had lo deal wlh each otherfs preferences. We might nol have the sarre..
Year 5 pupil
"I really enjoyed working wth other students singing as a group. This task gained my confidence in singing in front
ol a crowd. The teachers were l¢)vely and gave great dIr￿110ns. I had so muth fun wth my friends and it was a blasl..
Year 6 pupil
Hospitals
During 2023124, RSF tulors made 84 visits to the paediatric wards al Chelsea &We51rninster Hospital in Fulham and St
Mary's Hospital in Paddinglon, interacting with over 600 patients end carers. We also continued our Young Patients
Programme, providing weekly, zoorn-based, one-lo-one music lessons for patients referred to us by the Imperial Health
Charity.
With our weekly ￿$it$ to Ih7spital paedFaliic wards. Iwo RSF tutors delivered bespoke, adaptable and interactive music
sessions for short and long-term patients featuring musical games, percussion. ukelele and singing. Each hospital
session typically lasted 2 hours and often provided necessary respite for families and carers from difficult and stressful
circumstances.
Our Young Patient5 Programme provided weekty one-t¢￿one instrument ￿s5OnS lo up to 8 8-18 year-olds referred lo
us from Imperial Health Charity as well as a yourvJ person referred to us from the Muscular Dystrophy charity. The
Muscle Help Foundalion.
We also continued our hospital outreach wot*. with regular lunchlime perfomiarKes at Chelsea & Westminster Hospit81
by The Rhyihm stud￿.$ 6th form students.
Our partners have said:
'The Rhythm Studio workshops are an essential part of our participation prcgramme. Bringing music to the most
seriously unwell children at St Mary's. RSF offers a pri￿lesS distraction for the young people, relatives and staff."
Kate Pleydell. Arts Engogemenl Curator, Impertal College Heallhtsre Charity
"CW+ values our partnership wlh The Rhythm StU(r￿ Foundation, which provides impactfvl music across Chelsea &
Westminster Hospital. The Rhythm Studio Foundation's skilled tutors deliver wonderful engaging sessions with young
patients directly on the hospital wards. Drawing on previous experiences from our long-slanding partnership, and a deep
understanding of the bosptial environment. the leam carefully craft Iheir music making sessions to meet the young
patients where they are at emotionally. or physically in their health joumey, for a truly meaningful connection. The tutors
are profe55ional and exceptional at creating natural and fun interactions for the young patients."
- Abigail Balkitis Arts Offitsr CW+
The shielding ses￿onS the Rhyihm Studio Foundation have wovided for the young people I have referred to Ihern,
have by far exceeded my expectations. At first. referrals were made as simply something lo do to past time however it
soon became clear that the Sessions offered so much more. The childrell and parents feedback enlhusiaslically how
much the young person had enjoyed the $ess￿n$ and how their general rnood and wellbeing had improved since
engaging with Ihe RSF team. They felt part of a passionate family vitth music at the centre of il all. The young children
learnt a new skills which brings a sense of achievement and pfide., something which is not easily achieved in their
worlds where they have limited access to group aclNilies or hobbies such as rnusic due to their chronic health condition
and the sanctiOll5 It brings. I cannot recornmend RSF enough Ihey are a wonderful organisation and have facilitated so
much positive change and creativity in our young people."
- Becky Aimstrong, dinical psychologist. Impwial College Healthcare
Page 3

The Rhythm Studio Foundation CIO
Report of the Trustees
for the Year Ended 31 July 2024
Scholarships
An RSF Scholarship worth over £1.000 enables students to receive weekly one-to-one lessons on their chosen
instrument or participate in a band class. It is awarded on a means*tesled basis. contributing either 50% - 100.10 of fees.
In 2023124, 20 out of 21 RSF Scholarship awards were 100% funded. wilh only 1 al 50% (compared lo a higher
proportion of 50 /a awards in the prewous year). This reflected the increasing impact of the CDsI-of4iving crisis on the
applicants. financial situations.
In teThns ol highlights, scholarship holder Sonny played wrylh his baThJ at the Royal Albert Hall in the Future Makers final,
Anais recorded al the legendary Abbey Road Studios. Aarion and Andreza performed with the RSF All Stars at Bright
Futures and Elena won the Oulslanding Vocalist award al the Triborough-wide Future Sounds competition. Recent
scholarship alumnae took up places at Leeds Consewvatoiie. Trinity Laban and Goldsmiths, a Scholarship lo Columbia
University {New York) and performed in West End prodUct￿rts of Jesus Chrrsl Superslar and The Lion. The Witch and
The Wardrobe.
Fundraising activities
In partnership wth ICKAI charity West London Welmme, RSF continued to provide music scholarships for you
refugees lo have weekly. on&tO-one music lessons. We also organised numerous perforTnaTice opportunities for our
scholarship students al Queens Park Day, Hanwell Hootie, Tavisloc& Festival and The Great Exhibition Road Feslival,
as well as regular lunchtime gigs at Fulham Good Neighl￿rS and Chelsea & Weslminster Hospitsl.
'The Rhythm Studio Foundation have delivered high-quality perf0mlan￿S through the CW+ Lunchtime Concert series.
The wonderful performances by lalenled sluderrts are often the highligm of our staff and patient's dayl They are always
positively received by the audience as they offer an important, positive distraction from the preSsU￿S of the hospital
environment.
- Abigail Balkilis. Arts Officer. CW+
Page 4

The Rhythm Studio FouTKlation CIO
Report of the Trustees
for the Year Ended 31 July 2024
FINANCIAL RFrfIEW
Investment policy and perfomiance
The Foundation currenlly holds no investments.
Reserves pollcy
The Foundation's Reserves policy is lo maintain 9 months of core fixed costs {i.e salary and administration). Projects will
not be undertaken if they cannot be wmfortably funded.
Surplus
The Foundation reported an actsjmulated surplus of £77,821 for the year 2023124 (2022123.. £120,184). Our income al
£61.498 was also signifi￿n1[Y lower than £95,888 in the previous period in part because we received several
unexpected large donations from private ttusls in 2022123. We made a deliberate decision lo reduce our surplus lo a
more appyopriale level and therefore exparKled our project delnrery over 2023r24 xross all areas.
As a result, our expendilure rose sharply to £103,861 12022r23.' £71.636) mainly due to increased school workshop
delivery, an increase in the number of 100% 5Gholarships and bootcarnp places, more hospital vtsils and increased
staffing lo indude a part-lime administrative assistant {£9.4421 as well a5 a freelan￿ music lead {£2.592}-
PRINCIPAL FUNDING
Fundraising
RSF focused on community fundraisirwJ over Ihe period. ￿￿th fewer applications lo Trusts and Foundations.
Funds and Trusts
We received funding from: The Ofenheim Trust {£7,C*XI), The Nathan M Ohrbath Fund (£4,304) and The Worshipful
Company of Glovers {£2.500).
Individual Giving
Our Friends Stheme (£3,180) and Gift (£902) raised funds from indmduals and families whilst record label XL
Recordings continued lo support The Rhythm Studio Foundalion's Scholarship scherne1£850).
RSF Fundraising Activities
We had an aclive year of ct)mmunity-based fundraising . In October 2023. an RSF team took part in the Royal Parks
Half Marathon. wilh 10 runners completing the course and raising £10.000 for the Charity. The famous RSF Fundraising
Pub Quiz at The Troubadour was a sell-out once again and finally. the RSF Bright Fubjres 2024 fundraising concert,
where young musicians perfomied with RSF Patrons, songwriter Guy Chambers and designer Tom Dixon OBE. as well
as guest performeT5 including Ni(* Lowe and Hollie Cooke. successfully raised mre than £25,000.
Fees
RSF has extended the offer ol reduced or free programmes to sth¢)ols, ackrKiwledging the financial constraints facing
Schools and the light budgets for extra-curricular activities. Whilst receiving £902 in fees. we do not expect them lo
make a material contribution in the lorseeable future.
Page 5

The Rhythm Studio Foundation CIO
Report of the Trustees
for the Year Ended 31 July 2024
FUTURE FUNDING AND DEVELOPMENTS
Future Funding
Along with diversifying our income sources. we plan to twild up (Mjr community fundraising capacity. sustain our support
from Trusts and Foundations. boost the Friends Scheme and expand the number of corporate supporters.
FUTURE DEVELOPMENTS
Schools programme
We currently work vith eight local schools Y￿th Year 4. 5 and Year 6 pupils and that brings us close to capacity al the
studio. We our planning to increase the number of our creative music lechnology workshops which can be carried oul
at individual schools. premises and therefore we hope lo reath more young people in the future. including those with
SEND requirements. We plan to increase our work with secondary schools in the local area, focusing on music
production.
Hospitsls
We plan lo increase our programme of events targeled at oulpalients both at the hospilals and at The Rhythm Studio
itself.
Scholarships
We aim to continue to fund 20-25 music tuition scl)olarships.
STRUCTURE, GOVERNANCE AND MANAGEMEI
Constitution
The charity is controlled by ils governing document. and constilules a Charitable Incorporated Organisation ICIO). This
is a change from its previous status as a limtted ¢ompany, lirnited by guarantee. as defined by the Companies Act 2006.
Method of appointment or election of Trustees
The management of the charity is the responsibility of the Trustees whose terms, dulles and responsibilities are sel out
in its, goveming dOr￿ment as presuibed under the regulations in the Charilies Act 2011.
Organisation and decision-making
The charity 1$ run by a board of trustees. It employs a part-time Head of Operations & Fundraising arKi a part-time
Adminislralive Assistant
REFERENCE AND ADMINISTRAThIE DETAILS
Registered Charity number
1145472
Principal address
West London College
Gliddon Road
London
W14 9BL
Trustees
C N C Hodges
Mrs C CaTry
O Fetiveau
S T Jenkins
Ms C A Bishop
J Kandunias
F G Martin
A Lozano Nodar (appointed 19.9.23)
E O Papot {appointed 9.7.24)
Page6

The Rhythm Studio Foundation CIO
Report of the Tntstees
for the Year Ended 31 July 2024
REFERENCE AND ADMINISTrATIVE DETAILS
Independent Examiner
l R Fulcher FCA
Blackwood Fulcher & Co.
Chartered Accountants
9 Sl George's Yard
Famham
Surrey
GU9 7LW
FUNDS HELD AS CUSTODIAN FOR OTHERS
The Foundation does Mt hold any fijnds as C￿StodIan for others.
Approved by order of the board oftrustees on 18 December 2024 and signed on its behalf ty.
C N C Hodges- Trustee
Page 7

Independgnt Examinefs Report to the Trustees of
The Rhythm Studio Foundation CIO
I report on the accounts of the charity for the year ended 31 Juty 2024. which are sel out on pages 7 to 14.
Respectlve responsibilities of trustee5 and examiner
The charitls tsuslees are responsible for the preparation of the accounts. The thartty's trustees consider that an audit is
not Tequired for this year under section 144{2) of the Charities Act 2011 {Ihe 2011 Acl) and that an independent
exarninalion is needed. l am qualFfied to undertake the examination being a qualified member of the ICA£W.
It is my responsibility lo.-
exarnine the accounts under section 145 of the 2011
{li) lo follow the procedures laid down in the general Directions given by the Charity Commission under section
145151{b) of the 2011 Acl: and
(iii) lo slate whelher part[￿lar maiters have come to My attentic￿.
Basi$ of independent examinefs report
My examination was carried out in accordance WFth the general Directions given by the Charity Comffli5sion. An
examination includes a review ol the accounting records kept by the charily and a wmparison of the a￿ount$
presented wth those records. It also includes consideration of any unusual items or disclosures in the accounts. and
seeking explanations from you as trustees conceming any such matters. The piocedures undertaken do not provide all
the eviden￿ that would be required in an audit and consequently no opinion is gNen as to whether the accounts
present a 'true and fair vieW and the rewi is fimiled to those matters set out in the statement below.
Independent examinevs statement
In connection with my examination, no matter has come to rny attenlion..
(a) which gives me reasonable cause to believe that in any material respect the requirements:
lo keep accounting records in accordance wtt) section 130 of the 2011 Act; and
to prepare accounls which accord with the accounting records and comply with the accounting
requirements of the 2011 Act:
have not been mel., or
(bl lo which. in my opinign, attention should be dravm in order lo enable a proper understanding of the arwunls
to be reached.
J 4JtA)
l R Futcher FCA
81ackwood Fulcher & Co.
Chartered Accountants
9 St George's Yard
Famham
Surrey
GU9 7LW
18 December2024
Page 8

The Rhythm Studio FourHlation CIO
ststement of Financial AGtivities
for the Year Ended 31 July 2024
31.7.24
Total
funds
31.7.23
Total
funds
Unrestricted
fund
Reslricled
fund
Notes
INCOME AND ENDOWMENTS FROM
Donations and legacies
54.355
4,840
59.195
Investment income
2.303
2.303
944
Total
56.658
4.840
61,498
95,888
EXPENDITURE ON
Raising funds
74,747
28,742
103.489
71,342
Other
372
372
Total
75.119
28.742
103,861
71,636
NET INCoMEI{EXPEND￿URE>
(18,461)
123,902)
{42,363)
24,252
RECONCILIATION OF FUNDS
Total funds brought forward
87.138
33.046
120,184
95,932
TOTAL FUNDS CARRIED FORWARD
68,677
9,144
77,821
120,184
The notes fomi part of these financtal statements
Page 9

The Rhythm Skndio Foundation CIO
Balance Sheet
31 July 2024
31.7.24
Total
funds
31.7.23
Total
funds
Unrestricted
fund
Restricted
fund
Notes
FIXED ASSETS
Tangible assets
446
416
CURRENT ASSETS
Debtors
Cash at bank
400
120.560
71,224
9.144
80.368
71.224
9.144
80,368
120.960
CREDITORS
Amounts falling due wthin one year
{2.993)
{2,993>
(1,1921
NET CURRENT ASSETS
68.231
9.144
77.375
119,768
TOTAL ASSETS LESS CURRENT LIABIUTIES
68,677
9.144
77.821
120,184
NET ASSETS
9.144
77,821
120,184
FUNDS
Unrestricted funds
Restricted funds
68.677
9,144
87.138
33,046
TOTAL FUNDS
77,821
120.184
The financial statements were approved by the Board of Trustees and aulhorised for issue on 18 December 2024 and
were signed on tts behalf by.
C N C Hodges - Trustee
The notes fonn part ofthese finanaal ststements
Page 10

The Rhythm Studlo Foundatlon CIO
Note5 to the Financial Staternents
for the Year Ended 31 July 2024
ACCOUNTING POLICIES
Basis of preparing the financial slatements
The Rhythm Studio Foundation CIO is a tharilable In￿rpOrated organisation registered with the Charity
Commission in England & Wales. The office add￿$S is West London College. 9 Gliddon Road. London, W14
98L.
The accounts have been prepared in accordan￿ wth applicable accounting standards. the Statement of
Recommended Pracfice. 'Accounting and Reporting by Charities. (The Charities SORP FRS 102), effective 1
January 2019 and the Charities Acl 2011.
Incorne
All income is recognised in the Statement ol Financial Activities once the charity has entitlement to the funds, il
is probable thai Ihe income will be re￿iVed and the amunl can be measured reliably.
Expenditure
Liabilities are recognised as expenditure as soon as Ihere is a legal or constwclive oblrgation wmmltting the
charity lo that expenditure. il is probable that a transfer of economic be￿fitS will be required in settlement and
the amount of Ihe obligation can be measured reliably. Expenditure is accounted for on an accruals basis and
has been classified under headings Ihal aggregate all cost related to Ihe category. Where costs cannot be
directly attributed to particular headings they have been allocated lo activitie5 on a b8Sts consislenl with the use
of resources.
Tangible fixed assets
Depreciation is provided al the following annual rates in order to ￿lIe off each asset over its estimated usefvl
Computer equipment
33% on cost
Taxatlon
The chartty is exempl from tax on its charFtabie adivities.
Fund accounting
Unreslricled funds can be used in accordance wilh the tharilable objeclNes at the diserelion of the trustees.
Reslricled funds can only be used for particular restricted purposes within the objects of the charity. Restrictions
arise when speciffed by the donor or when funds are raised for particular reslricled purposes.
Further explanation of the nature and purpose of e2¢h fund is induded in the notes to the financial statements.
Pension costs and other post-retirement benefits
The charity operates a defined contribution pension stheme. Conlributions payable lo the charivs pension
scherlle are charged lo the Slalement of Financial Activitie5 in the period lo which they relate.
INVESTMENT INCOME
31.7.24
31.7.23
Bank interest
2,303
944
TRUSTEES. REMUNERATION AND BENEFrrs
There weie no trustees, remuneration or olher beneffts for Ihe year ended 31 July 2024 nor for the year ended
31 Juty 2023.
Page11
continued...

The Rhythm Sttjdlo Foundation CIO
Notes to the Financial Statements - continued
for the Year Ended 31 July 2024
TRUSTEES. REMUNERATION AND BENEFrrs- continued
Trustees. expenses
There were no trustee's expenses patd for the year ended 31 Juty 2024 nor for the year ended 31 July 2023.
STAFF COSTS
The average monthly number ofemployees during the year was as fDIIows.'
Support
31.7.24
31.7.23
No employees received ernoluments in excess of £60.CKX).
COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
Unrestricted
Restricted
fund
Tofal
funds
INCOME AND ENDOWMENTS FROM
Dtsnalions and legacies
72,673
22.271
94.944
Investment income
9H
Total
73.617
22,271
95,888
EXPENDITURE ON
Raising funds
66.980
4.362
71,342
Other
294
Total
67.274
4,362
71.636
NET INCOME
6,343
17.909
24,252
RECONCILIATION OF FUNDS
Total funds brought forward
80,795
15.137
95,932
TOTAL FUNDS CARRIED FORWARD
87.138
33.046
120.184
Page 12
continued...

The Rhythm Studio Foundatlon CIO
Notes to the Financial Statements - continued
for the Year Ended 31 July 2024
TANGIBLE FIXED ASSETS
Computer
equipment
COST
At 1 August 2023
Additions
1,824
402
At 31 July 2024
2.226
DEPRECIATION
At 1 August 2023
Charge for year
1,408
372
At 31 July 2024
1,780
NET BOOK VALUE
At 31 July 2024
446
At 31 July 2023
416
DEBTORS: AMOUNTS FALLING DUE YIITHIN ONE YEAR
31.7.24
31.7.23
Trade debtors
400
CREDITORS: AMOUNTS FALLING DUE VThIN ONE YEAR
31.7.24
31.7.23
Trade creditors
Taxation and social security
Other creditors
144
284
2,565
79
241
872
2,993
1,192
MOVEMENT IN FUNDS
Nel
movement
in funds
Al
31.7.24
At 1.823
Unrestrrcted funds
General fund
87.138
(18.461>
68.677
Restricted funds
Restricted
33.046
(23.902)
9.144
TOTAL FUNDS
120.184
(42.363)
77.821
Net movement in funds, included in the above are as follows:
Incoming
resources
Resources
expended
Movement
in funds
Unrestricted funds
General fund
56.658
175.119)
{18.461)
Restricted funds
Restricted
4.840
(28.7421
123.902)
TOTAL FUNOS
61.498
{103,861)
(42.363)
Page 13
continued...

The Rhythm Studio Foundation CIO
otes to the Financial Ststements- continued
for the Year Ended 31 July 2024
MOVEMENT IN FUNDS- Gontinued
Comparatives for movement in lunds
Net
movemer¢l
in funds
At
31.7.23
At 1.8.22
Unrestricted funds
General fund
80.795
6,343
87,138
Restrlcted fund5
Restricted
15,137
17,909
33,046
TOTAL FUNDS
95.932
24.252
120,184
Comparative nel movement in funds. itKluded in the above are as follows:
Incoming
sources
Resources
expended
Movement
in funds
Unrestricted funds
General fund
73,617
167,274)
6,343
Restricted funds
Restricted
22.271
(4.362}
17,909
TOTAL FUNDS
95.888
{71.636)
24.252
A current year 12 months and prior year 12 months combined positron is as follows:
Net
movement
in funds
At
31.7.24
At 1.8.22
Unrestricted funds
General fund
80.795
(12.118)
68,677
Restricted funds
Reslrided
15.137
15,993}
9.144
TOTAL FUNDS
95,932
(18,111)
77,821
A current year 12 months arKJ prior year 12 months combined net movernenl in funds, included in the above are
as follows=
Incoming
resources
Resources
expended
Movement
in funds
Unrestrlcted fund5
General fund
130.275
(142.3931
112,118)
Restricted funds
Restsicted
27,111
(33,104)
15,9931
TOTAL FUNDS
157.386
(175.497)
{18.111)
Page 14
conbnued...

The Rhythm Studio Foundation CIO
Notes to the Financial Statements - contlnued
for the Year Ended 31 July 2024
10.
RELATED PARTY DISCLOSURES
As note(l in the Report of the Trustees. Christopher Hodges is a Trustee of The Rhythm Studio FoundatlDn.
Christopher Hodge5 is also the sole director of The Rhythm Studio Lirnited. During the period the Foundation
paid the Company leaching fees tolalling £20.559 (2022123 of £16.49n. All fee5 charged by the Company to the
Foundation are priced al or below the cost of providing the leaching.
The trustees acknowledge the potential confiict of interest and have re¥￿d fhe relationship be￿en the two
entities.
In accordance with the guidelines of the Charities Commission for England and Wales the￿ is nolhing
preventing the Foundation frorn engaging the services of any other independent Ihird party. should it believe Ihat
the third paty provides a better altemative in fulfilling the charitable objecttves of The Rhythm Studio
Foundation.
Page 15

The Rhythm Studio Foundation CIO
Detailed Statement of Financial Activities
for the Year Ended 31 Juty 2024
31.7.24
31.7.23
INCOME AND ENDOWMENTS
Donations and legacies
Donations
Gift aid
58.293
902
93,918
1,026
59.195
94.944
Investment income
Bank interest
2,303
944
Total incoming resource$
61.498
95,888
EXPENDITURE
Raising donations and legacies
Event fees
Teaching fees
8.409
58.166
1,929
43,217
66,575
45.146
Other
Computer equipment
372
294
Support costs
Management
Wages
Pensions
Insurance
Postage and stationery
Advertising
Sundries
Accountancy
Travel
32,314
595
403
513
113
383
2.336
197
21,574
425
362
319
227
514
2.160
549
36.854
26,130
Finance
Bank charges
66
Total resources experKled
103,861
71.636
Net lexpenditureifincome
{42.363}
24,252
This page does not fomi part ofthe statutory financial ststements
Page 16