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2022-08-31-accounts
|
Page |
| Reference and Administrative Details of the Charity, its Trustees and Advisers |
1−2 |
| Trustees' Report |
3−16 |
| Trustees' Responsibilities Statement |
17 |
| Independent Auditor's Report on the Financial Statements |
18−21 |
| Consolidated Statement of Financial Activities |
22 |
| Consolidated Balance Sheet |
23 −24 |
| Charity Balance Sheet |
25 −26 |
| Consolidated Statement of Cash Flows |
27 |
| Notes to the Financial Statements |
28 −55 |
| Trustees |
Mrs Joan Kirkbride, Chairmani |
|
Dr Jamie Clarke |
|
CIIr Alison Eastwood (appointed 23 September 2021) |
|
Mrs Georgina Fordham (resigned 22 September 2022) |
|
Mr Clive Greshami |
|
Mr Roger Griffiths (resigned 1 September 2022) |
|
CM−Dudley Hughes |
|
Mr lain Massey |
|
Mrs Renuka Popat |
|
Mr Trevor Shipmani |
|
Mrs Morcea Walker (resigned 1 August 2022) |
|
Northamptonshire County Council (resigned 23 September 2021) |
|
Mr George Bruce (appointed 22 September 2022) |
|
1 Members of the Finance Committee |
| Company registered |
|
| number |
07738151 |
| Charity registered |
|
| number |
1145643 |
| Registered office |
125−129 Kettering Road |
|
Northampton |
|
Northamptonshire |
|
NN1 4AZ |
| Senior management team |
Peter Smalley, Chief Executive |
|
Rachel Coles |
|
Anna Denny |
|
Chris Hiscock (until 31 August 2022) |
|
Andy Kirkwood (until 31 August 2022) |
|
Mark Malitskie (until 17 June 2022) |
|
Richard Roper (until 31 August 2022) |
|
Nigel Corbett (from 6 June 2022) |
|
lain McKnight (from 1 September 2022) |
|
Liza Field (from 1 September 2022) |
| Company secretary |
Nigel Corbett |
| Chief executive officer |
Peter Smalley |
| Independent auditor |
MHA Macintyre Hudson |
|
Chartered Accountants |
|
Peterbridge House |
|
The Lakes |
|
Northampton |
|
NN4 7HB |
|
|
Restricted |
Unrestricted |
Total |
Total |
|
|
funds |
funds |
funds |
funds |
|
|
2022 |
2022 |
2022 |
2021 |
|
Note |
£ |
£ |
£ |
£ |
| Income from: |
|
|
|
|
|
| Donations and legacies |
3 |
− |
36,621 |
36,621 |
24,910 |
| Charitable activities |
4 |
1,370,380 |
3,126,301 |
4,496,681 |
4,492,269 |
| Other trading activities |
5 |
|
82,987 |
82,987 |
44,964 |
| Investments |
|
− |
2,830 |
2,830 |
1,288 |
| Total income |
|
1,370,380 |
3,248,739 |
4,619,119 |
4,563,431 |
| Expenditure on: |
|
|
|
|
|
| Raising funds |
|
350 |
61,000 |
61,350 |
28,340 |
| Charitable activities |
|
1,510,275 |
3,494,898 |
5,005,173 |
4,251,812 |
| Total expenditure |
|
1,510,625 |
3,555,898 |
5,066,523 |
4,280,152 |
| Net (expenditure)/income |
|
(140,245) |
(307,159) |
(447,404) |
283,279 |
| Transfers between funds |
15 |
41,302 |
(41,302) |
|
|
| Net movement in funds before other |
|
|
|
|
|
| recognised gains |
|
(98,943) |
(348,461) |
(447,404) |
283,279 |
| Other recognised gains: |
|
|
|
|
|
| Actuarial gains on defined benefit |
|
|
|
|
|
| pension schemes |
21 |
43,000 |
|
43,000 |
37,000 |
| Net movement in funds |
|
(55,943) |
(348,461) |
(404,404) |
320,279 |
| Reconciliation of funds: |
|
|
|
|
|
| Total funds brought forward |
|
648,166 |
1,505,647 |
2,153,813 |
1,833,534 |
| Net movement in funds |
|
(55,943) |
(348,461) |
(404,404) |
320,279 |
| Total funds carried forward |
|
592,223 |
1,157,186 |
1,749,409 |
2,153,813 |
|
|
|
2022 |
|
2021 |
|
Note |
|
£ |
|
£ |
| Fixed assets |
|
|
|
|
|
| Tangible assets |
12 |
|
468,608 |
|
490,442 |
|
|
|
468,608 |
|
490,442 |
| Current assets |
|
|
|
|
|
| Debtors |
13 |
261,171 |
|
484,654 |
|
| Cash at bank and in hand |
|
1,532,881 |
|
1,953,029 |
|
|
|
1,794,052 |
|
2,437,683 |
|
| Creditors: amounts falling due within one |
|
|
|
|
|
| year |
14 |
(513,251) |
|
(774,312) |
|
| Net current assets |
|
|
1,280,801 |
|
1,663,371 |
| Total assets less current liabilities |
|
|
1,749,409 |
|
2,153,813 |
| Total net assets |
|
|
1,749,409 |
|
2,153,813 |
| Charity funds |
|
|
|
|
|
| Restricted funds: |
|
|
|
|
|
| Restricted funds |
15 |
123,615 |
|
157,724 |
|
| Restricted fixed assets |
15 |
468,608 |
|
490,442 |
|
| Total restricted funds |
15 |
|
592,223 |
|
648,166 |
| Unrestricted funds |
15 |
|
1,157,186 |
|
1,505,647 |
| Total funds |
|
|
1,749,409 |
|
2,153,813 |
|
|
|
2022 |
|
2021 |
|
Note |
|
|
|
|
| Fixed assets |
|
|
|
|
|
| Tangible assets |
12 |
|
468,608 |
|
490,442 |
|
|
|
468,608 |
|
490,442 |
| Current assets |
|
|
|
|
|
| Debtors |
13 |
271,829 |
|
517,917 |
|
| Cash at bank and in hand |
|
1,507,340 |
|
1,894,451 |
|
|
|
1,779,169 |
|
2,412,368 |
|
| Creditors: amounts falling due within one |
|
|
|
|
|
| year |
14 |
(512,501) |
|
(773,562) |
|
| Net current assets |
|
|
1,266,668 |
|
1,638,806 |
| Total net assets |
|
|
1,735,276 |
|
2,129,248 |
| Charity funds |
|
|
|
|
|
| Restricted funds: |
|
|
|
|
|
| Restricted funds |
15 |
123,615 |
|
157,724 |
|
| Restricted fixed assets |
15 |
468,608 |
|
490,442 |
|
| Total restricted funds |
15 |
|
592,223 |
|
648,166 |
| Unrestricted funds |
15 |
1,266,668 |
|
1,481,082 |
|
| Total unrestricted funds |
15 |
|
1,143,053 |
|
1,481,082 |
| Total funds |
|
|
1,735,276 |
|
2,129,248 |
|
|
2022 |
2021 |
|
Note |
£ |
£ |
| Cash flows from operating activities |
|
|
|
| Net cash used in operating activities |
18 |
(422,978) |
425,854 |
| Cash flows from investing activities |
|
|
|
| Dividends, interests and rents from investments |
|
2,830 |
1,288 |
| Net cash provided by investing activities |
|
2,830 |
1,288 |
| Cash flows from financing activities |
|
|
|
| Change in cash and cash equivalents in the year |
|
(420,148) |
427,142 |
| Cash and cash equivalents at the beginning of the year |
|
1,953,029 |
1,525,887 |
| Cash and cash equivalents at the end of the year |
19 |
1,532,881 |
1,953,029 |
Freehold property
Property improvements
Fixture and fittings
Music equipment
Computer equipment |
−50 years
−20 years
−5 years
−4 to 10 years
−3 years |
|
|
|
Unrestricted |
Total |
Total |
|
funds |
funds |
funds |
|
2022 |
2022 |
2021 |
|
£ |
£ |
£ |
| Donations |
36,621 |
36,621 |
24,910 |
| Income from donations and legacies −prior year |
|
|
|
|
Unrestricted |
Total |
Total |
|
funds |
funds |
funds |
|
2021 |
2021 |
2020 |
|
£ |
£ |
£ |
| Gifts and donations |
24,910 |
24,910 |
27,939 |
|
**Restricted ** |
Unrestricted |
Total |
Total |
|
funds |
funds |
funds |
funds |
|
2022 |
2022 |
2022 |
2021 |
|
£ |
£ |
£ |
£ |
| Music tuition |
|
2,926,537 |
2,926,537 |
2,013,228 |
| Grant income from Arts Council |
1,149,686 |
|
1,149,686 |
1,119,008 |
| Courses |
|
660 |
660 |
1,870 |
| Tours |
|
96,629 |
96,629 |
|
| Examination fees |
|
61,773 |
61,773 |
19,581 |
| Gift aid income |
|
40,702 |
40,702 |
50,320 |
| Grant income from the Industrious Project |
68,980 |
|
68,980 |
94,921 |
| Grant income from the Gordon Robinson |
|
|
|
|
| Memorial Trust |
38,000 |
|
38,000 |
29,080 |
| Other grant income |
15,600 |
|
15,600 |
750,800 |
| Music production grant |
52,731 |
|
52,731 |
49,054 |
| Cultural Recovery Fund |
45,383 |
|
45,383 |
364,407 |
| Total 2022 |
1,370,380 |
3,126,301 |
4,496,681 |
4,492,269 |
| Total 2021 |
2,309,721 |
2,182,548 |
4,492,269 |
|
|
Restricted |
Unrestricted |
Total |
Total |
|
funds |
funds |
funds |
funds |
|
2021 |
2021 |
2021 |
2020 |
|
£ |
£ |
£ |
£ |
| Music tuition |
|
2,013,228 |
2,013,228 |
2,161,645 |
| Grant income from Arts Council |
1,119,008 |
|
1,119,008 |
1,117,987 |
| Cultural Recovery Fund |
266,858 |
97,549 |
364,407 |
|
| Courses |
|
1,870 |
1,870 |
71,410 |
| Tours |
|
|
|
26,531 |
| Examination fees |
|
19,581 |
19,581 |
50,607 |
| Gift aid income |
|
50,320 |
50,320 |
82,382 |
| Grant income from the Industrious Project |
94,921 |
|
94,921 |
57,609 |
| Grant income from the Gordon Robinson |
|
|
|
|
| Memorial Trust |
29,080 |
|
29,080 |
32,540 |
| Other grant income |
750,800 |
|
750,800 |
921,695 |
| Music production grant |
49,054 |
|
49,054 |
35,090 |
| Total 2021 |
2,309,721 |
2,182,548 |
4,492,269 |
4,557,496 |
| Total 2020 |
2,076,712 |
2,480,784 |
4,557,496 |
|
|
Unrestricted |
Total |
Total |
|
funds |
funds |
funds |
|
2022 |
2022 |
2021 |
|
£ |
£ |
£ |
| Concerts, coaches and CDs |
41,518 |
41,518 |
6,375 |
| Other project income |
2,026 |
2,026 |
4,467 |
| Conference |
6,253 |
6,253 |
|
| Miscellaneous income |
1,611 |
1,611 |
1,088 |
| Lettings income |
8,490 |
8,490 |
6,700 |
| Musical instrument repair |
5,244 |
5,244 |
3,984 |
| Software sales |
17,845 |
17,845 |
22,350 |
| Total 2022 |
82,987 |
82,987 |
44,964 |
| Total 2021 |
44,964 |
44,964 |
|
| Income from fundraising events −prior year |
|
|
|
|
Unrestricted |
Total |
Total |
|
funds |
funds |
funds |
|
2021 |
2021 |
2020 |
|
£ |
£ |
£ |
| Concerts, coaches and CDs |
6,375 |
6,375 |
28,682 |
| Other project income |
4,467 |
4,467 |
|
| Conference |
|
|
1,820 |
| Miscellaneous income |
1,088 |
1,088 |
1,298 |
| Lettings income |
6,700 |
6,700 |
12,325 |
| Musical instrument repair |
3,984 |
3,984 |
5,780 |
| Software sales |
22,350 |
22,350 |
25,565 |
| Total 2021 |
44,964 |
44,964 |
75,470 |
| Total 2020 |
75,470 |
75,470 |
|
|
2022 |
2021 |
| The Group recognises financial assistance from various funders as |
|
|
| follows: |
|
|
| BBC Children in Need |
|
9,840 |
| British and Foreign School Society |
|
12,740 |
| Constance Travis Charitable Trust |
50,000 |
50,000 |
| David Laing Family Fund −Northamptonshire Community Foundation |
100 |
|
| David Laing Foundation |
2,000 |
1,000 |
| D'Oyly Carte |
|
4,000 |
| Kettering and District Eisteddfod |
|
4,786 |
| Kettering Music Society |
13,800 |
|
| Local Giving |
3,874 |
4,038 |
| N. Clube |
|
1,000 |
| Other Donations |
11,351 |
6,663 |
| Sir Andrew Martin Trust |
|
1,000 |
| The Chartered Accountants Livery Charity |
|
3,000 |
| The Frederick and Phyllis Cann Trust |
7,000 |
|
| The Gordon Robinson Memorial Trust |
44,500 |
29,080 |
| Twinning |
480 |
|
| Virgin Money Giving |
496 |
1,143 |
| Youth Music |
68,980 |
34,298 |
| Accounting adjustments & deferrals |
23,331 |
35,377 |
|
225,912 |
197,965 |
|
Restricted |
Unrestricted |
Total |
Total |
|
funds |
funds |
funds |
funds |
|
2022 |
2022 |
2022 |
2021 |
|
£ |
£ |
£ |
£ |
| Concerts, coaches and CDs |
350 |
31,280 |
31,630 |
382 |
| Conference |
|
2,881 |
2,881 |
250 |
| Miscellaneous |
|
26,839 |
26,839 |
27,708 |
|
350 |
61,000 |
61,350 |
28,340 |
| Total 2021 |
|
28,340 |
28,340 |
|
|
Restricted |
Unrestricted |
Total |
Total |
|
funds |
funds |
funds |
funds |
|
2022 |
2022 |
2022 |
2021 |
|
£ |
£ |
£ |
£ |
| FRS 102 pension cost |
44,000 |
|
44,000 |
37,000 |
| Music centre expenditure |
10,780 |
239,203 |
249,983 |
24,286 |
| Recruitment and other staff costs |
|
38,227 |
38,227 |
19,772 |
| Rates and water |
|
3,947 |
3,947 |
4,966 |
| Light and heat |
|
19,171 |
19,171 |
15,395 |
| Repairs and maintenance |
|
74,768 |
74,768 |
23,410 |
| Insurance |
|
23,112 |
23,112 |
22,296 |
| Cleaning |
|
2,465 |
2,465 |
2,861 |
| Legal and professional fees |
|
38,632 |
38,632 |
37,888 |
| Telephone |
|
4,235 |
4,235 |
4,133 |
| Postage and stationery |
|
18,316 |
18,316 |
14,963 |
| Licences and subscriptions |
|
5,803 |
5,803 |
3,943 |
| Bank and card charges |
|
18,067 |
18,067 |
11,272 |
| Equality, Diversity and Inclusion |
|
1,216 |
1,216 |
2,400 |
| Sundry expenses including bad debt |
|
|
|
|
| movements |
|
(13,907) |
(13,907) |
3,131 |
| Marketing and advertising costs |
|
1,956 |
1,956 |
|
| Youth Music activity |
66,208 |
|
66,208 |
79,243 |
| Music Production expenditure |
3,783 |
|
3,783 |
13,335 |
| Gordon Robinson funded activity |
38,000 |
|
38,000 |
29,080 |
| OHMI Project |
|
|
− |
5,000 |
| Cultural Recovery Fund |
46,873 |
|
46,873 |
205,707 |
| Instrument purchases |
|
7,570 |
7,570 |
6,676 |
| Wages and salaries |
1,278,797 |
2,241,018 |
3,519,815 |
3,067,731 |
| National insurance |
|
290,807 |
290,807 |
216,815 |
| Pension cost |
|
480,292 |
480,292 |
375,382 |
| Depreciation |
21,834 |
|
21,834 |
25,127 |
| Total 2022 |
1,510,275 |
3,494,898 |
5,005,173 |
4,251,812 |
| Total 2021 |
2,394,380 |
1,857,432 |
4,251,812 |
|
|
Restricted |
Unrestricted |
Total |
Total |
|
funds |
funds |
funds |
funds |
|
2021 |
2021 |
2021 |
2020 |
|
£ |
£ |
£ |
£ |
| FRS 102 pension cost |
37,000 |
|
37,000 |
32,000 |
| Music centre expenditure |
|
24,286 |
24,286 |
138,548 |
| Recruitment and other staff costs |
|
19,772 |
19,772 |
22,415 |
| Rates and water |
|
4,966 |
4,966 |
6,950 |
| Light and heat |
|
15,395 |
15,395 |
15,928 |
| Repairs and maintenance |
|
23,410 |
23,410 |
40,391 |
| Insurance |
|
22,296 |
22,296 |
20,310 |
| Cleaning |
|
2,861 |
2,861 |
2,854 |
| Legal and professional fees |
|
37,888 |
37,888 |
46,049 |
| Telephone |
|
4,133 |
4,133 |
2,453 |
| Postage and stationery |
|
14,963 |
14,963 |
21,822 |
| Licences and subscriptions |
|
3,943 |
3,943 |
7,069. |
| Bank and card charges |
|
11,272 |
11,272 |
14,610 |
| Sundry expenses |
|
3,131 |
3,131 |
13,602 |
| Equality, Diversity and Inclusion |
|
2,400 |
2,400 |
|
| Marketing and advertising costs |
|
|
|
4,800 |
| Youth Music activity |
79,243 |
|
79,243 |
100,673 |
| Music Production expenditure |
13,335 |
|
13,335 |
|
| Gordon Robinson funded activity |
29,080 |
|
29,080 |
32,540 |
| Cultural Recovery fund |
205,707 |
|
205,707 |
|
| Instrument purchases |
348 |
6,328 |
6,676 |
20,479 |
| OHMI Project |
|
5,000 |
5,000 |
|
| Wages and salaries |
2,004,540 |
1,063,191 |
3,067,731 |
3,448,909 |
| National insurance |
|
216,815 |
216,815 |
231,716 |
| Pension cost |
|
375,382 |
375,382 |
453,225 |
| Depreciation |
25,127 |
|
25,127 |
25,010 |
| Total 2021 |
2,394,380 |
1,857,432 |
4,251,812 |
4,702,353 |
|
2022 |
2021 |
|
£ |
£ |
| Fees payable to the Charity's auditor for the audit of the Charity's annual |
|
|
| accounts |
12,500 |
12,000 |
|
Group |
Group |
Charity |
Charity |
|
2022 |
2021 |
2022 |
2021 |
|
£ |
£ |
£ |
£ |
| Wages and salaries |
3,519,815 |
3,067,731 |
3,519,815 |
3,067,731 |
| National insurance |
290,807 |
216,815 |
290,807 |
216,815 |
| Pension costs |
524,292 |
412,382 |
524,292 |
412,382 |
|
4,334,914 |
3,696,928 |
4,334,914 |
3,696,928 |
|
Group |
Group |
|
2022 |
2021 |
|
No. |
No. |
| Teachers |
110 |
110 |
| Administration |
13 |
12 |
| Support |
4 |
3 |
|
127 |
125 |
|
|
|
|
|
Group |
Group |
|
|
|
|
|
2022 |
2021 |
|
|
|
|
|
No. |
No. |
| In |
the |
band |
£60,001 |
−£70,000 |
3 |
2 |
| In |
the |
band |
£80,001 |
−£90,000 |
1 |
1 |
|
|
|
Fixtures |
|
|
|
|
Freehold |
Property |
and |
Music |
Computer |
|
|
**property ** |
improvements |
fittings |
**equipment ** |
equipment |
Total |
| Cost or valuation |
|
|
|
|
|
|
| At 1 September 2021 |
495,000 |
93,306 |
6,270 |
325,028 |
3,360 |
922,964 |
| At 31 August 2022 |
495,000 |
93,306 |
6,270 |
325,028 |
3,360 |
922,964 |
| Depreciation |
|
|
|
|
|
|
| At 1 September 2021 |
79,200 |
31,228 |
6,270 |
312,464 |
3,360 |
432,522 |
| Charge for the year |
9,900 |
4,666 |
|
7,268 |
|
21,834 |
| At 31 August 2022 |
89,100 |
35,894 |
6,270 |
319,732 |
3,360 |
454,356 |
| Net book value |
|
|
|
|
|
|
| At 31 August 2022 |
405,900 |
57,412 |
|
5,296 |
|
468,608 |
| At 31 August 2021 |
415,800 |
62,078 |
|
12,564 |
|
490,442 |
|
Group |
Group |
Charity |
Charity |
|
2022 |
2021 |
2022 |
2021 |
|
£ |
£ |
£ |
£ |
| Due within one year |
|
|
|
|
| Trade debtors |
59,979 |
42,648 |
59,979 |
42,648 |
| Amounts owed by group undertakings |
|
|
24,017 |
33,263 |
| Other debtors |
4,200 |
|
4,200 |
|
| Prepayments and accrued income |
196,992 |
442,006 |
183,633 |
442,006 |
|
261,171 |
484,654 |
271,829 |
517,917 |
|
Group |
Group |
Charity |
Charity |
|
2022 |
2021 |
2022 |
2021 |
|
£ |
£ |
£ |
£ |
| Trade creditors |
|
19,909 |
− |
19,909 |
| Other taxation and social security |
84,332 |
61,480 |
84,332 |
61,480 |
| Other creditors |
19,436 |
11,421 |
19,436 |
11,421 |
| Accruals and deferred income |
409,483 |
681,502 |
408,733 |
680,752 |
|
513,251 |
774,312 |
512,501 |
773,562 |
| Statement of funds −current year |
Statement of funds −current year |
|
|
|
|
|
|
Balance at 1 |
|
|
|
|
Balance at |
|
September |
|
|
Transfers |
Gains/ |
31 August |
|
2021 |
Income |
Expenditure |
in/out |
(Losses) |
2022 |
|
£ |
£ |
£ |
£ |
£ |
£ |
| Unrestricted |
|
|
|
|
|
|
| funds |
|
|
|
|
|
|
| Designated |
|
|
|
|
|
|
| funds |
|
|
|
|
|
|
| Instrument |
|
|
|
|
|
|
| purchase |
74,909 |
5,244 |
(3,678) |
|
le |
76,475 |
| Building |
|
|
|
|
|
|
| maintenance |
445,289 |
|
(507) |
|
|
444,782 |
| Re−stimulation |
|
|
|
|
|
|
| fund |
260,000 |
|
|
(170,003) |
|
89,997 |
|
780,198 |
5,244 |
(4,185) |
(170,003) |
|
611,254 |
| General funds |
|
|
|
|
|
|
| General fund |
725,449 |
3,243,495 |
(3,551,713) |
128,701 |
|
545,932 |
| Total |
|
|
|
|
|
|
| Unrestricted |
|
|
|
|
|
|
| funds |
1,505,647 |
3,248,739 |
(3,555,898) |
(41,302) |
|
1,157,186 |
|
Balance at 1 |
|
|
|
|
Balance at |
|
September |
|
|
Transfers |
Gains/ |
31 August |
|
2021 |
Income |
Expenditure |
in/out |
(Losses) |
2022 |
|
£ |
£ |
£ |
£ |
£ |
£ |
| Restricted funds |
|
|
|
|
|
|
| Fee remission |
|
|
|
|
|
|
| fund |
105,165 |
|
|
|
− |
105,165 |
| Arts Council and |
|
|
|
|
|
|
| other grants |
36,881 |
1,263,400 |
(1,341,583) |
41,302 |
|
|
| The Gordon |
|
|
|
|
|
|
| Robinson |
|
|
|
|
|
|
| Memorial Trust |
|
38,000 |
(38,000) |
|
|
|
| Industrious |
|
|
|
|
|
|
| project |
15,678 |
68,980 |
(66,208) |
|
|
18,450 |
| Pension reserve |
|
|
(43,000) |
|
43,000 |
|
|
157,724 |
1,370,380 |
(1,488,791) |
41,302 |
43,000 |
123,615 |
| Restricted fixed |
|
|
|
|
|
|
| assets |
|
|
|
|
|
|
| Buildings and |
|
|
|
|
|
|
| assets |
490,442 |
|
(21,834) |
|
|
468,608 |
| Total Restricted |
|
|
|
|
|
|
| funds |
648,166 |
1,370,380 |
(1,510,625) |
41,302 |
43,000 |
592,223 |
| Total of funds |
2,153,813 |
4,619,119 |
(5,066,523) |
|
43,000 |
1,749,409 |
| Statement of fu |
nds −prior year |
|
|
|
|
|
|
|
Balance at |
|
|
|
|
Balance |
at |
|
1 September |
|
|
Transfers |
Gains/ |
31 August |
|
|
2020 |
Income |
Expenditure |
in/out |
(Losses) |
2021 |
|
|
£ |
£ |
£ |
£ |
£ |
|
£ |
| Unrestricted |
|
|
|
|
|
|
|
| funds |
|
|
|
|
|
|
|
| Designated |
|
|
|
|
|
|
|
| funds |
|
|
|
|
|
|
|
| Instrument |
|
|
|
|
|
|
|
| purchase |
71,957 |
3,984 |
(1,032) |
|
|
74,909 |
|
| Building |
|
|
|
|
|
|
|
| maintenance |
445,913 |
|
(624) |
|
|
445,289 |
|
| Re−stimulation |
|
|
|
|
|
|
|
| fund |
|
|
|
260,000 |
|
260,000 |
|
|
517,870 |
3,984 |
(1,656) |
260,000 |
|
780,198 |
|
| General funds |
|
|
|
|
|
|
|
| General fund |
619,839 |
2,249,726 |
(1,884,116) |
(260,000) |
|
725,449 |
|
| Total |
|
|
|
|
|
|
|
| Unrestricted |
|
|
|
|
|
|
|
| funds |
1,137,709 |
2,253,710 |
(1,885,772) |
|
|
1,505,647 |
|
|
Balance at |
|
|
|
|
Balance at |
|
1 September |
|
|
Transfers |
Gains/ |
31 August |
|
2020 |
Income |
Expenditure |
in/out |
(Losses) |
2021 |
|
£ |
£ |
£ |
£ |
£ |
£ |
| Restricted |
|
|
|
|
|
|
| funds |
|
|
|
|
|
|
| Fee remission |
|
|
|
|
|
|
| fund |
105,165 |
|
|
|
|
105,165 |
| Arts Council and |
|
|
|
|
|
|
| other grants |
75,091 |
1,434,920 |
(1,473,130) |
|
|
36,881 |
| The Gordon |
|
|
|
|
|
|
| Robinson |
|
|
|
|
|
|
| Memorial Trust |
|
29,080 |
(29,080) |
|
|
|
| Industrious |
|
|
|
|
|
|
| project |
|
94,921 |
(79,243) |
|
|
15,678 |
| Government |
|
|
|
|
|
|
| Furlough grants |
|
750,800 |
(750,800) |
|
|
|
| Pension reserve |
|
|
(37,000) |
|
37,000 |
|
|
180,256 |
2,309,721 |
(2,369,253) |
|
37,000 |
157,724 |
|
Balance at |
|
|
|
|
Balance at |
|
1 September |
|
|
Transfers |
Gains/ |
31 August |
|
2020 |
Income |
Expenditure |
in/out |
(Losses) |
2021 |
|
£ |
£ |
£ |
£ |
£ |
£ |
| Restricted |
|
|
|
|
|
|
| fixed assets |
|
|
|
|
|
|
| Buildings and |
|
|
|
|
|
|
| assets |
515,569 |
|
(25,127) |
|
|
490,442 |
| Total |
|
|
|
|
|
|
| Restricted |
|
|
|
|
|
|
| funds |
695,825 |
2,309,721 |
(2,394,380) |
|
37,000 |
648,166 |
| Total of funds |
1,833,534 |
4,563,431 |
(4,280,152) |
|
37,000 |
2,153,813 |
| **Summary of funds ** |
−current year |
−current year |
|
|
|
|
|
|
Balance at 1 |
|
|
|
|
|
Balance at |
|
|
September |
|
|
Transfers |
Gains/ |
31 August |
|
|
2021 |
Income |
Expenditure |
in/out |
(Losses) |
2022 |
|
|
£ |
£ |
£ |
£ |
£ |
£ |
| Designated funds |
|
780,198 |
5,244 |
(4,185) |
(170,003) |
|
611,254 |
| General funds |
|
725,449 |
3,243,495 |
(3,551,713) |
128,701 |
|
545,932 |
| Restricted funds |
|
157,724 |
1,370,380 |
(1,488,791) |
41,302 |
43,000 |
123,615 |
| Restricted |
|
|
|
|
|
|
|
| fixed assets |
|
490,442 |
− |
(21,834) |
|
|
468,608 |
|
|
2,153,813 |
4,619,119 |
(5,066,523) |
|
43,000 |
1,749,409 |
| **Summary of funds ** |
−prior year |
|
|
|
|
|
|
|
|
Balance at |
|
|
|
|
Balance at |
|
1 September |
|
|
|
Transfers |
Gains/ |
31 August |
|
|
2020 |
Income |
Expenditure |
in/out |
(Losses) |
2021 |
|
|
£ |
£ |
£ |
£ |
£ |
£ |
| Designated funds |
|
517,870 |
3,984 |
(1,656) |
260,000 |
|
780,198 |
| General funds |
|
619,839 |
2,249,726 |
(1,884,116) |
(260,000) |
|
725,449 |
| Restricted funds |
|
180,256 |
2,309,721 |
(2,369,253) |
|
37,000 |
157,724 |
| Restricted |
|
|
|
|
|
|
|
| fixed assets |
|
515,569 |
|
(25,127) |
|
|
490,442 |
|
|
1,833,534 |
4,563,431 |
(4,280,152) |
|
37,000 |
2,153,813 |
| Analysis of net assets between funds |
−current year |
|
|
|
|
Restricted |
Restricted |
Unrestricted |
Total |
|
funds |
fixed assets |
funds |
funds |
|
2022 |
2022 |
2022 |
2022 |
|
£ |
£ |
£ |
£ |
| Tangible fixed assets |
|
468,608 |
|
468,608 |
| Current assets |
651,726 |
|
1,142,326 |
1,794,052 |
| Creditors due within one year |
(528,111) |
|
14,860 |
(513,251) |
| Total |
123,615 |
468,608 |
1,157,186 |
1,749,409 |
| Analysis of net assets between funds |
−prior year |
|
|
|
|
Restricted |
Restricted |
Unrestricted |
Total |
|
funds |
fixed assets |
funds |
funds |
|
2021 |
2021 |
2021 |
2021 |
|
£ |
£ |
£ |
£ |
| Tangible fixed assets |
|
490,442 |
|
490,442 |
| Current assets |
932,036 |
|
1,505,647 |
2,437,683 |
| Creditors due within one year |
(774,312) |
|
|
(774,312) |
| Total |
157,724 |
490,442 |
1,505,647 |
2,153,813 |
|
|
|
|
|
|
Group |
Group |
|
|
|
|
|
|
2022 |
2021 |
|
|
|
|
|
|
£ |
£ |
Net
income/expenditure
for the |
year |
(as |
per |
Statement |
of Financial |
|
|
| Activities) |
|
|
|
|
|
(447,404) |
283,279 |
| Adjustments for: |
|
|
|
|
|
|
|
| Depreciation charges |
|
|
|
|
|
21,834 |
25,127 |
| Dividends, interests and rents from |
investments |
|
|
|
|
(2,830) |
(1,288) |
| Decrease/(increase) in debtors |
|
|
|
|
|
208,623 |
(96,811) |
| Increase/(decrease) in creditors |
|
|
|
|
|
(246,201) |
178,547 |
| Defined benefit pension scheme cost less |
|
contributions payable |
|
|
|
43,000 |
37,000 |
| Net cash provided by/(used in) operating activities |
|
|
|
|
|
(422,978) |
425,854 |
| Group |
Group |
| 2022 |
2021 |
| £ |
£ |
| 1,532,881 |
1,953,029 |
|
|
|
|
|
|
At 1 |
|
|
|
|
|
|
|
|
September |
|
At 31 |
|
|
|
|
|
|
2021 |
**Cash flows ** |
August 2022 |
|
|
|
|
|
|
£ |
£ |
E |
| Cash |
at |
bank |
and |
in |
hand |
1,953,029 |
(420,148) |
1,532,881 |
|
|
|
|
|
|
1,953,029 |
(420,148) |
1,532,881 |
| Principal actuarial assumptions at the Balance Shee |
t date (expressed as weighted average |
s): |
|
At 31 |
At 31 August |
|
August 2022 |
2021 |
| Discount rate |
4.25 |
1.65 |
| Expected return on assets |
4.25 |
1.65 |
| Future salary increases |
3.55 |
3.40 |
| Future pension increases |
3.05 |
2.90 |
|
At 31 |
At 31 August |
|
August 2022 |
2021 |
|
Years |
Years |
| Mortality rates (in years) |
|
|
| −for a male aged 65 now |
21.7 |
21.7 |
| −at 65 for a male aged 45 now |
22.8 |
22.8 |
| −for a female aged 65 now |
24.1 |
24.1 |
| −at 65 for a female aged 45 now |
25.8 |
25.8 |
|
At 31 At 31 August |
At 31 At 31 August |
|
August 2022 |
2021 |
|
£ |
£ |
| Discount rate +0.1% (2020: +0.5%) |
17,000 |
24,000 |
| Discount rate −0.1% (2020: −0.5%) |
(17,000) |
(24,000) |
| Mortality assumption −1 year increase |
42,000 |
45,000 |
| Mortality assumption −1 year decrease |
(42,000) |
(45,000) |
| CPI rate +0.1% (2020: +0.5%) |
16,000 |
22,000 |
| CPI rate −0.1% (2020: −0.5%) |
(16,000) |
(22,000) |
| Salary rate +0.5% |
1,000 |
|
| The Group's share of the assets in the scheme was: |
|
|
|
At 31 At 31 August |
|
|
August 2022 |
2021 |
|
£ |
£ |
| Equities |
1,055,000 |
1,068,000 |
| Corporate bonds |
319,000 |
319,000 |
| Property |
191,000 |
191,000 |
| Cash and other liquid assets |
− |
16,000 |
| Total fair value of assets |
1,565,000 |
1,594,000 |
| The amounts recognised in |
the Consolidated Statement of F |
ina |
ncial Activities |
are as follows: |
|
|
|
|
|
2022 |
2021 |
|
|
|
|
£ |
£ |
| Current service cost |
|
|
|
(44,000) |
(34,000) |
| Interest income |
|
|
|
26,000 |
23,000 |
| Interestcost |
|
|
|
(25,000) |
(23,000) |
Total
amount recognised |
in the Consolidated Statement |
of |
Financial |
|
|
| Activities |
|
|
|
(43,000) |
(34,000) |
|
2022 |
|
£ |
| Opening defined benefit obligation |
1,497,000 |
| Interestcost |
25,000 |
| Contributions by scheme participants |
5,000 |
| Actuarial (gains)/losses |
(172,000) |
| Benefits paid |
(29,000) |
| Current service cost |
44,000 |
| Changes in financial assumptions |
(315,000) |
| Closing defined benefit obligation |
1,055,000 |
| Movements in the fair value of the Group's share of scheme assets |
were as follows: |
|
2022 |
|
£ |
| Opening fair value of scheme assets |
1,594,000 |
| Expected return on assets |
26,000 |
| Actuarial (losses)/gains |
(129,000) |
| Contributions by employer |
|
| Contributions by scheme participants |
5,000 |
| Benefits paid |
(29,000) |
| Closing fair value of scheme assets |
1,467,000 |
| under non−cancellable operating leases as follow |
s: |
|
|
|
|
Group |
Group |
Charity |
Charity |
|
2022 |
2021 |
2022 |
2021 |
|
£ |
£ |
£ |
£ |
| Not later than 1 year |
1,200 |
1,200 |
1,200 |
1,200 |
| Later than 1 year and not later than 5 years |
900 |
2,100 |
900 |
2,100 |
|
2,100 |
3,300 |
2,100 |
3,300 |