OpenCharities

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

2020-08-31-accounts

Page
Reference and administrative details ofthe Charity, its Trustees and advisers 1-2
Trustees'
report		 3-21
Independent auditor's report on the financial statements 22 -24
Consolidated statement offinancial activities 25
Consolidated balance sheet 26-27
Charity balance sheet 28-29
Consolidated statement ofcash flows 30
Notes to the financial statements 31-57

Trustees Mrs Joan Kirkbride, Mrs Joan Kirkbride, Chairman' Chairman'
Dr Jamie Clarke
Mr Clive Gresham (reappointed 23 January 2020)i
Mrs Georgina
Fordham
Mr Roger Griffiths (reappointed 19September 2019)
Cllr Dudley Hughes (reappointed 7 July 2020)2
Mr lain Massey (reappointed 7 July 2020)
Mrs Renuka Popat (reappointed 7 July 2020)
Mr Trevor Shipman (reappointed 23 January 2020)1
Mrs Morcea Walker
Northamptonshire County Council, non-Trustee Director
" Members ofthe Finance Group
~ Local Authority Nominated Trustee
Company registered
number 07738151
Charity registered
number 1145643
Registered office 125-129Kettering Road
Noithampton
Northamptonshire
NN1 4AZ
Senior management teamPeter
Smalley,
Chief Executive
Rachel Coles
Anna Denny
Chris Hiscock
Andy Kirkwood
Mark Malitskie
Richard Roper
Company secretary Mark Malitskie
Chief executive officer Peter Smalley
Independent auditor MHA Maclntyre
Hudson
Chartered
Accountants
Peterbridge
House
The Lakes
Northampton
NN4 7HB
Bankers Lloyds Bank PLC
2 George Row
Northampton
NN1 1DJ

Restricted Unrestricted Total Total
funds funds funds funds
2020 2020 2020 2019
Note F
Income from:
Donations
and legacies		 27,939 27,939 48,164
Charitable
activities		 2,076,712 2,480,784 4,557,496 4,993,445
Other trading
activities		 75,470 75,470 143,196
Investments 1,000 4,870 5,870 11,503
Total income 2,077,712 2,589,063 4,666,775 5,196,308
Expenditure
on:
Raising funds 50,754 50,754 72,822
Charitable
activities		 2,115„539 2,586,814 4,702,353 5,123,600
Total expenditure 2,115,539 2,637,568 4,753,107 5,196,422
Net movement
in funds before other
recognised
gains		 (37,827) (48,505) (86,332) (114)
Other recognised gains:
Actuarial
gains on defined		 benefit
pension schemes 21 31,000 31,000 12,000
Net movement
in funds		 (37,827) (17,505) (55,332) 11,886
Reconciliation
offunds:
Total funds brought forward 702,652 1,186,214 1,888,866 1,876,980
Net movement
in funds		 (37,827) (17,505) (55,332) 11,886
Total funds carried forward 664,825 1,168,709 1,833,534 1,888,866

2020 2019
E
Cash flows from operating activities
Net cash used
in operating		 activities (152,948) 178,650
Cash flows from investing activities
Dividends,
interests and rents from investments		 4,870 6,503
Net cash provided
by investing
activities		 4,870 6,503
Cash flows from financing activities
Change
in cash and cash		 equivalents in the year (148,078) 185,153
Cash and cash equivalents at the beginning ofthe year 1,673,965 1,488,812
Cash and cash equivalents at the end of the year 1,525,887 1,673,965

Freehold
property		 - 50years
Property
improvements		 - 20years
Fixture and fittings - 5years
Music equipment -4 to 10years
Computer
equipment		 - 3years

Unrestricted Total Total
funds funds funds
2020f 2020 2019
Gifts and donations 27,939 27,939 48,164
Total 2019 48,164 48,164
Unrestricted Total Total
funds funds funds
2019f 2019f 2018
F
Gifts and donations 48,164 48,164 33,857
Total 2019 33,857 33,857

Restricted Unrestricted Total Total
funds funds funds funds
2020 2020 2020 2019
f f. E
Music tuition 2,161,645 2,161,645 3,328,711
Grant income from Arts Council 1,117,987 1,117,987 1,115,001
Courses 71,410 71,410 82,780
Tours 26,531 26,531 66,892
Examination fees 50,607 50,607 106,513
Gift aid income 82,382 82,382 126,795
Grant income from Youth Music 57,609 57,609 52,173
Grant income from the Gordon Robinson
Memorial Trust 32,540 32,540 103,540
Other grant income 891,095 30,600 921,695 11,040
Music production grant 35,090 35,090
Total 2020 2,076,712 2,480,784 4,557,496 4,993,445
Total 2019 1,218,541 3,774,904 4,993,445

Restricted Unrestricted Total Total
funds funds funds funds
2019 2019
f.		 2019f 2018
Music tuition 3,336,986 3,336,986 3,394,739
Grant income from Arts Council 1,115,001 1„115,001 1,107,572
Courses 81,545 81,545 90,318
Tours 70,892 70,892 82,545
Examination fees 106,513 106,513 110,320
Gift aid income 126,795 126,795 80,213
Grant income from Youth Music 52,173 52,173 120,892
Grant income from the Gordon Robinson
Memorial
Trust		 103,540 103,540 106,220
Total 2019 1,218,541 3,774,904 4,993,445 5,092,819
Total 2018 1,212,802 3,880,017 5,092,819
5. Income from other trading activities
Income from fundraising events
Unrestricted Total Total
funds funds funds
2020f 2020f 2019
Concerts, coaches and CDs 28,682 28,682 87,917
Conference 1,820 1,820 5,644
Miscellaneous income 1,298 1„298 1,369
Lettings income 12,325 12,325 14,615
Musical instrument repair 5,780 5,780 15,326
Software sales 25,565 25,565 18,325
Total 2020 75,470 75,470 143,196
Total 2019 143,196 143,196

Unrestricted Total Total
funds funds funds
2019 2019 2018
Concerts, coaches and CDs 87,917 87,917 88,668
Grants 73,389
Conference 5,644 5,644 7,724
Miscellaneous income 1,369 1,369 8,732
Lettings income 14,615 14,615 12,485
Musical instrument repair 15,326 15,326 2,637
Software sales 18,325 18,325 14,095
Total 2019 143,196 143,196 207,730
Total 2018 207,730 207,730

Grants
2020 2019
The Group recognises
financial		 assistance from various funders as
follows:
Anthony
Smith - Shoe		 Zone 1,000
Arts Council England, National Lottery Project Grant 14,540
Arts for Rutland 3,000
BBCChildren
in Need		 11,875 9,840
British and Foreign School Society 12,740
Constance
Travis Charitable		 Trust 50,000 3,000
David Laing Family Fund - Northamptonshire Community Foundation 2,900
David Laing Foundation 200 6,500
Kirby Laing Foundation 5,000
Debbie Smith 1,571 390
D'Oyly Carte 3,300
Friends of Northamptonshire Music and Performing Arts Trust 3,792 4,526
Gates Garden Centre 40
Kettering
and District Eisteddfod		 10,000
Local Giving 4,996 4,083
Northampton
Borough		 Council 25,000
Northamptonshire
County Council		 2,000
Orchestras
Live		 5,000
Other Donations 19,549 17,773
Rotary West 1,200
Sir Andrew
Martin Trust		 800
Spirit of2012 - Carers project 13,470
St Cecilia Singers 3,521
The Forman
Hardy Trust		 500
The Frederick and Phyllis Cann Trust 5,000 4,000
The Gordon Robinson Memorial Trust 31,340 103,540
The Helen Jean Cope Charity 500
The Maud Elkinton Charitable Trust 500
The P8C Hickinbotham Charitable Trust 1,000
The Rutland
Trust		 500
Virgin Money Giving 3,741 2,413
Youth Music 41,158 14,851
Accounting
adjustments		 8 deferrals (29,494)
206,238 214,917

Unrestricted Total Total
funds funds funds
2020f 2020 2019
E
Concerts, coaches and CDs 23,217 23,217 40,106
Conference 2,117 2,117 4,582
Miscellaneous 25,420 25,420 16,300
Wage costs 11,834
50,754 50,754 72,822

Restricted Unrestricted Total Total
funds funds funds funds
2020 2020 2020 2019
E E
FRS 102 pension cost 32,000 32,000 17,000
Music centre expenditure 138,548 138,548 171,291
Recruitment
and		 other staff costs 22,415 22,415 30,902
Rates and water 6,950 6,950 6,676
Light and heat 15,928 15,928 18,513
Repairs and maintenance 40,391 40,391 121,734
Insurance 20,310 20,310 21,460
Cleaning 2,854 2,854 2,099
Legal and professional fees 46,049 46,049 36,322
Telephone 2,453 2,453 2,968
Postage and stationery 21,822 21,822 27,791
Licences and subscriptions 4,088 2,981 7,069 3,555
Bank charges 14,610 14,610 17,634
Sundry expenses 13,602 13,602 16,786
Marketing
and advertising		 costs 4,800 4,800 1,774
Youth Music activity 17,361 83,312 100,673 59,741
Gordon Robinson funded activity 32,540 32,540 103,540
Instrument
purchases		 20,479 20,479 26,614
Wages and salaries 1,697,552 1,751,357 3,448,909 3,655,935
National
insurance		 114,051 117,665 231,716 268,482
Pension cost 192,937 260,288 453,225 487,773
Depreciation 25,010 25,010 25,010
Total 2020 2,115,539 2,586,814 4,702,353 5,123,600
Total 2019 1,261,210 3,862,390 5,123,600

Restricted Unrestricted Total Total
funds funds funds funds
2019 2019 2019 2018
f E E
FRS 102pension cost 17,000 17,000 (3,000)
Music centre expenditure 2,215 169,076 171,291 215,976
Recruitment
and		 other staff costs 30,902 30,902 26,917
Rates and water 6,676 6,676 6,164
Light and heat 18,513 18,513 13,900
Repairs and maintenance 121,734 121,734 104,249
Insurance 21,460 21,460 20,945
Cleaning 2,099 2,099 1,849
Legal and professional fees 36,322 36,322 36,062
Telephone 2,968 2,968 (1,720)
Postage and stationery 27,791 27,791 21,472
Licences and subscriptions 3,555 3,555 3,417
Bank charges 17,634 17,634 16,841
Sundry expenses 16,786 16,786 5,927
Marketing
and advertising		 costs 1,774 1,774 1,916
Youth Music activity 59,741 59,741 111,679
Gordon Robinson funded activity 103,540 103,540 106,220
Instrument
purchases		 26,614 26,614 35,781
Wages and salaries 1,113,445 2,542,490 3,655,935 3,651,384
National
insurance		 268,482 268„482 255,330
Pension cost 487,773 487,773 567,507
Depreciation 25,010 25,010 29,717
Total 2019 1,261,210 3,862,390 5,123,600 5,228,533
Total 2018 1,293,508 3,935,025 5,228,533

Group Group Charity Charity
2020 2019 2020 2019
E F F
Wages and salaries 3,448,909 3,655,935 3,448,909 3,655,935
National insurance 231,716 268,482 231,716 268,482
Pension costs (Note 21) 485,225 504,773 485,225 504,773
4,165,850 4,429,190 4,165,&50 4,429,190
The average number ofcontracted persons employed by the Charity during the year was as follows:
Group Group
2020 2019
No. No.
Teachers 118 122
Administration 12 11
Support 3 3
133 136
Group Group
2020 2019
No. No.

Fixtures
Freehold Property and Music Computer
property
f		 improvements
E		 fittings
F		 equipment
f		 equipment
f.		 Total
Cost or valuation
At 1 September 2019 495,000 93,306 6,270 325,028 3,360 922,964
At 31 August 2020 495,000 93,306 6,270 325,028 3,360 922,964
Depreciation
At 1 September 2019 59,400 21,897 6,270 291,458 3,360 382,385
Charge for the year 9,900 4,665 - 10,445 25,010
At 31 August 2020 69,300 26,562 6,270 301„903 3,360 407,395
Net book value
At 31 August 2020 425,700 66,744 23,125 515,569
At 31 August 2019 435,600 71,409 33,570 540,579

Group Group Charity Charity
2020f 2019
f.		 2020
f		 2019
Due within one year
Trade debtors 14,404 11,917 14,404 11,917
Amounts
owed by group undertakings		 10,024
Prepayments and accrued income 373,439 193,626 360,449 193,626
387,843 205,543 374,853 215,567

Group Group Charity Charity
2020 2019 2020 2019
F F E
Trade creditors 4,113 4,113
Other taxation and social security 50,503 88,381 50,503 88,381
Other creditors 80,471 6,972 80,471 6,972
Accruals and deferred income 464,791 431,755 464,041 415,369
595,765 531,221 595,015 514,835

Statement offunds - current year
Balance at 1 Balance at
September Gains/ 31August
2019f Income
f		 Expenditure (Losses) 2020f
Unrestricted
funds
Designated
funds
Instrument
purchase		 76,413 5,780 (10,236) 71,957
Building
maintenance		 446,538 (625) 445,913
522,951 5,780 (10,861) 517,870
General funds
General
fund		 663,263 2,583,283 (2,626,707) 619,839
Total Unrestricted funds 1,186,214 2,589,063 (2,637,568) 1„137,709
Restricted funds
Fee remission
fund		 113,501 (8,336) 105,165
Arts Council and other grants 48,572 1,153,077 (1,126,558) 75,091
The Gordon Robinson
Memorial
Trust		 32,540 (32,540)
Government
Furlough		 grants 891,095 (891,095)
Pension reserve 1,000 (32,000) 31,000
162,073 2,077,712 (2,090,529) 31,000 180,256
Restricted fixed assets
Buildings
and
Assets		 540,579 (25,010) 515,569
Total Restricted funds 702,652 2,077,712 (2,115,539) 31,000 695,825
Total offunds 1,888,866 4,666,775 (4,753,107) 31,000 1,833„534

Statement offunds - prior year
Balance at Balance at
1 September Transfers Gains/ 31 August
2018 Income Expenditure in/out (Losses) 2019
E E
Unrestricted
funds
Designated
funds
Instrument
purchase		 70,194 6,219 76,413
Building maintenance 446,538 446,538
516,732 6,219 522,951
General funds
General
fund		 631,927 3,972,767 (3,935,212) (6,219) 663,263
Total Unrestricted
funds 1,148,659 3,972,767 (3,935,212) 1,186,214
Restricted funds
Fee remission
fund		 113,501 113,501
Arts Council and
other grants 49,231 1,115,001 (1,115,660) 48,572
The Gordon
Robinson
Memorial
Trust		 103,540 (103,540)
Pension reserve 5,000 (17,000) 12,000
162,732 1,223,541 (1,236,200) 12,000 162,073
Restricted fixed
assets
Buildings
and
Assets 565,589 (25,010) 540,579
Total Restricted
funds 728,321 1,223,541 (1,261,210) 12,000 702,652
Total offunds 1,876,980 5,196,308 (5,196,422) 12,000 1,888,866

Summary offunds - curre nt year
Balance at 1 Balance at
September Gains/ 31August
2019 Income
F		 Expenditure
E		 (Losses) 2020f
Designated funds 522,951 5,780 (10,861) 517,870
General funds 663,263 2,583,283 (2,626,707) 619,839
Restricted funds 162,073 2,077,712 (2,090,529) 31,000 180,256
Restricted fixed assets 540,579 (25,010) 515,569
1,888,866 4,666,775 (4,753,107) 31,000 1,833,534
Summary offunds - p rior year
Balance at Balance at
1 September Transfers Gains/ 31 August
2018 Income Expenditure in/out (Losses) 2019
E E F F
Designated funds 516,732 6,219 522,951
General funds 631,927 3,972,767 (3,935,212) (6,219) 663,263
Restricted funds 162,732 1,223,541 (1,236,200) 12,000 162,073
Restricted fixed
assets 565,589 (25,010) 540,579
1,876,980 5,196,308 (5,196,422) 12,000 1,888,866

Restricted Restricted Unrestricted Total
funds fixed assets funds funds
2020
f		 2020
f		 2020
f		 2020f
Tangible fixed assets 515,569 515,569
Current assets 775,931 1,137,799 1,913,730
Creditors due within one year (595,675) (90) (595,765)
Total 180,256 515,569 1,137,709 1,833,534

Analysis ofn et assets between
funds		 - prior period
Restricted Restricted Unrestricted Total
funds fixed assets funds funds
2019 2019 2019 2019
E f. E F
Tangible fixed assets 540,579 540,579
Current assets 162,073 1,717,435 1,879,508
Creditors due within one year (531,221) (531,221)
Total 162,073 540,579 1,186,214 1,888,866

Group Group
2020 2019
E
Net expenditure
for		 the period (as per Statement of Financial Activities) (86,332) (114)
Adjustments
for:
Depreciation
charges		 25,010 25,010
Dividends,
interests		 and rents from investments (4,870) (6,503)
Decrease/(increase) in debtors (182,300) 75,225
Increase
in creditors		 64,544 73,032
Defined benefit pension scheme cost less contributions payable 31,000 12,000
Net cash provided by/(used in) operating activities (152,948) 178,650

Group Group
2020 2019
F
Cash in hand 1,525,887 1,673,965
Total cash and cash equivalents 1,525,887 1,673,965

At 31 At 31 August
August 2020 2019
Years Years
Mortality rates (in years)
-for a male aged 65 now 21.5 21.2
-at 65 for a male aged 45 now 22.3 22.3
-for a female aged 65 now 23.7 23.3
-at 65 for a female aged 45 now 25.1 24.7

At 31 At 31 August
August 2020
f		 2019
f
Discount rate +0.5% 110,000 133,000
Discount rate -0.5% (110,000) (133,000)
Mortality assumption - 1 year increase 40,000 40,000
Mortality assumption - 1 year decrease (40,000) (40,000)
CPI rate +0.5% 99,000 109,000
CPI rate -0.5% (99,000) (109,000)
The Group's share of the assets in the scheme was:
At 31 At 31 August
August 2020
f		 2019
f
Equities 940,000 1,006,000
Corporate bonds 216,000 237,000
Property 164,000 126,000
Cash and other liquid assets 41,000 28,000
Total fair value ofassets 1,363,000 1,397,000

2020f 2019
F
Current service cost (39,000) (15,000)
Past service cost (5,000)
Interest income 25,000 37,000
Interest cost (24,000) (32,000)
Total amount recognised in the Consolidated statement offinancial
activities (38,000) (15,000)
Moveme nts
in the present value ofthe defined
benefit obligation
 were as follows:
2020f
Opening defined
benefit obligation		 1,397,000
Interest cost 24,000
Contributions
by scheme participants		 5,000
Actuarial (gains)/losses (70,000)
Benefits paid (32,000)
Past service costs
Current service cost 39,000
Closing defined
benefit obligation		 1,363,000
2020f
Opening fair value ofscheme assets 1,397,000
Expected return
on assets		 25,000
Actuarial (losses)/gains (39,000)
Contributions by employer 7,000
Contributions by scheme participants 5,000
Benefits paid (32,000)
Closing fair value ofscheme assets 1,363,000

under non -can cellable
operating
leases as follow		 s:
Group Group Charity Charity
2020 2019 2020 2019
E E E
Not later than 1 year 1,200 1,200 1,200 1,200
Later than 1 year and not later than 5years 3,300 4,500 3,300 4,500
4,500 5,700 4,500 5,700