RKGJSTERED COMPANY NUMBER: 08524556 (En￿Artd and Wales) REGISTERED CHARITY NUMBKR: 1152703 REPORT OF THE TR FIN IAL STATEMENTS FOR THE YEAREfiDED 31 AUGUST 2023 FOR TSU EX ChariotHou5¢Liinitsd Chartcrcd Accoulltants and Statutory Auditor 44 Grond Parnde Brighton BN2 9QA SEXM IC TRUST 'rp. FTTIFF IAL STATE Page Report of the Truste I to 7 Report of the IDdependelltAuditor5 8 to 11 St#tememt ofFinanefial Aetlvities 12 Bxlinte Sheet 13 C4$h Flow Sta¢¢m¢nt 14 Notesto the Cash Mow St8tement 15 Notes to the Finan¢lAI Statements 16 tr) 26 ICTR FOK THK NDED J AUGUST 2025 The trustees who aw also directors of the charity for the puryoses of the Companies Act 2006, present their report with the financial statements of the char￿ty for th¢ year ended 31 August 2023. The truskes have adopted the provisions of Ac£ounting and Reporting by Charities.. St&t¢ment of Ruommended pra￿lce applicable to charitie5 prcparing their accounts in acwrdan¢¢ wilh th¢ finanGiai Keporting Standard appiKable ITr the UK and Republic of Ireland (FRS 102) (effectiY¢ l January 2019). OBJEcrtVFS AND AcfiviTtES Objectives ind Airns In accordance with its Articles of A5SOCiation, West Sussex Music Trust exists to: Idv4nc¢ ¢ducation for th¢ publi¢ b¢L¢fit phrtleulaAy* but llot exduslvely* In relAtlon to the musl4 Arts and performing Arts: dyinee the irts And e￿I￿re for tk¢ benefit of the public p%rticulRrty, but not exelusively, by promoting •nd rAeilitAting Hcee55 to performhNces of miisic other Thrt forrns. provldt for the re¢YeAtlon of Children, young p¢opie and wdults for the benefit of the p￿￿11¢ by providing equipment, fAcilltles servltes to them in the inte￿t of 50CiRI welfAre wlth the obiett of Improving their conditsoll5 of life. - %dvan£e the heHlth wdlbeingof childreM7 yO￿ng ptople #Ad idulL4 for the benefxtofthe publt£' - promot¢ 50ciAI inclusion for the publie benefit by gssistillg thos¢ people who AT¢ sociwjty ¢xclud¢d from society, or parts ofso¢i¢ty. The Trust provides music educalion io children and young ￿pIe and sUpp￿S 283 sc]M)ols ihrough all offtr of whole-¢lass first aecess programm￿, ensemble opportunities, instrumentai vocal tuition, singing pTh)j¢cts, CPD for teach￿, instrnm￿t loan and large-scal¢ inclusive music events. Addition&lly. the Tyust provides a comprehensive range of ensejnble. tyition and support a(*iviti¢s at its Siturday evening music ¢¢Trty￿. The Trust cxtelld5 its rcach by leading the West Sussex Music Education Hub. working strategically with Hub par(ners to raise participation ond improve ￿￿e$S to high4wality inclusive mu6iC•makin& especially to disadvdntsgcd hardcr tD rearli young people. I'he work of the Hub is sup￿rt￿ by thr Drpartmellt for Lducation's nat￿)ng1 musi¢ ￿￿C￿tIon hub 8rantwhich i$ mana8ed by th¢ Tn]$l. Public benefit The Irust¢es hav¢ paid due regwrd to guidanv issued by th¢ Charity Commission in d¢¢iding what aGtivitie5 th6 Tr￿ should ujidertake. Bur54ries And Grants Thw¢ is a ¢h&rge for som¢ of the seNi¢¢s provided by the Trnst but ther¢ is & bursary thrtd for paTentslcarcr5 in receipt of certain state benefits. The bursary fund uses the DfC'5 national hub grant to provide up w IOW/fj subsidy for gr0￿p lessotL%, instrument hir¢ and music centre membership for pupils that receive bert¢fits-relat¢d FIC6 SGhool Mea15 or are ilthn in Care. Families in fin&n¢ial need that th not med the IOOOkn subsidy criteria mE4y qualify for a 50Yo subsidy for fatnilies in rettipt of other benefts. Students are a180 signpos*d to extern￿ gjmnts and funds designed to help ¢hildTh acccs5 tuit￿￿. SGhools are encourasd to Use their Pupil Premiuin funding to support pupils, music ducotion outside the classroom. The Thstactivcly cncour%cs fftrnilics to conslder paying ￿￿thlY to spread ih¢ fiDanGial pr¢5surc. Page I us TRUS TERE 55 RKPOR F THE TRUSI FOR THE YEAR EIYDgD 31 21123 srRATEGIC REPORT Aehlevem¢nt wnd perfoTJnAnce Chgrilfible setivitie5 During the yeir 202>23 the Trust impl¢tn¥n¢¢d new strdtegi65 to kickstart incJras¢d oc¢&ss to thildr￿ atld young peopl¢ ith musical ilftivi ties and thrther d¢v¢lW existing pro8ramm¢s of activity.. TOMOM)￿S Orthestra Progrdillm¢ (TOP). In January our innovative three-temi music centre progrdmme of fre group lessolls and free lnstn]mL￿t hire, with ensemble memixrship, for beginners started its seo)tMI whort of 107 TOP23 rncmbcrs at Chichcster. Hornham. and Worthing mwic ctntM. The 43 TOP22 graduaw who started th¢ pr¢viou& year pmgr¢ss¢d onlo regularmusic ccntre ensembles and into small group or individval1¢5wns. 2. New music centK initiativ¢s such as TOP, Dtum Lab and Young Voices as well &8 focu5d promotion. have hdped raise the numb¢rof mu51¢ ¢¢nthr mEmber5 by W/0 fnxn th¢ previous year. 69 students frotn W&st Sussex Youth 0￿hestra and Wost Sus5¢x YDUth Wind Orchestrn ¢mbarked on our fiyst overseas Cultural tour si￿￿ 2018. 4. A free terjn of wholtrclass insttumental leaming {WCET) for all Year 4 pupils in Bognor Regis and LittIehampton pritDary schrjols - areL8 of lower cngaganent from SCh￿IS - resulted ill 15 out of 19 new schools taking up th¢ offw as wcll ￿ 20 (yjl of 24 sthools in Crawl¢y which was piloted th¢ y¢&r b¢for¢. Across the whol¢ county WCET ¢ngAgrmen¢ matched p￿pand¢M1¢ levels of cngagement, wth 106 schools hosting 284 progrdmme5. atwj prEViO￿ pupil tlumbers werc ¢xceeded with 7,521 a￿￿Sing t1￿¢ free lessons. SuG(z$s￿l applications to the County Council's Holiday Activities and Food {EIAF) funding EnablEd thc implementation of a prtsgrnmme of free music holiday activities in Hognor Regis, C.rawley. smd Littlchampton for students in ￿teIpt of bmefit-related free SGhcol m¢als. 225 holidw activsty plac￿ wcr¢ filled during December, April. Jnd Augu5L Thc 5uc¢ess of these courses ettabled fjjrther fvnds to be secured for 2023-24. tnshiwne4)tsl afid vo¢al tuition pupil numbers have increased by IWA from th¢ pmious year throuth improved recrniknent ptt)gratDmes incteased ctYLciency of scheduling. 7. Our Compreh￿5}Ve CPD progmnme for ￿ho￿l-based and vi%stjll8 music teth during tht y¢ar culMi￿ated in Iwo music educatioD wtsferences.. the Sussex Secondary Music Conftt¢nc4 which was i)r8anised in collaboration with Creale Music and University of S￿$￿A in Jun¢ th¢ West Sussex Music Eduration Confer*Jce in July. 8. Th¢ Trust financially supported 10 Big Sing massd choir events dvrithg th¢ ye4r whieh wwe organised by s¢hool localiti&%. 59 SGhools and 1997 pupils ben¢fJtted from participa￿ort in •Big Sin 9. The Youth Advisory Board was fornied for students aged bctwe¢n 14 - 18 years (up to 25 for SEND) to hay¢ their voice heard on strategic decision making around provision. 10. During the year the 643 studettts received fIt￿ne1a1 support in order to ac(w musi¢ lessons or attend music centr& In November 2022, the West Sussex Music offic¢ r¢loGatd to a Comm￿181 premis￿ in HoTsham following & yearfs temw>rdry stay at th¢ insttument storage fa¢ility at Pctworth. This move b*k to Horsham has enabled the support functions to reconvcne following a year of remote working. During th¢ autumn of 2022 ati agreement with St. Joseph's CE Junior8¢hcK>l inchichester was agreed to providc a n¢w v¢Due forour Chi¢h¢st¢rMusi¢ C¢ntr¢. Page 2 wEsr x[￿uSICT REPO FOR THE Y THE TRUST DED JI AUGUS STRATEGIC REPORT review Flnanclal position The Trust bAS ttvo main Sources of incom4 trdikd income tlwough the provision of musi¢ iuition direct to fatnilies and schooL8 and the Department for Education (DtB) national music eduGatitsA hub grdnL administered by Arts Council England. During the year ending 31 August 2023, total incomc w&$ £1,793,121. Totsl expenditure was £1,863,474 gencrating an ov¢rdll defJ¢it of £70,353 after acc4)unting for d¢pre¢iotion of£62,296 and an i￿pain￿e￿t provisLDn of £21,000. At 31 August 21)23 th¢ net b￿k valu6 Df fix¢d assets wL8 £421.388 of which £398.904 the insttument assets. The 055ets w￿¢ used exclusively for providin8 tuitiott and asgociatsd supprt seryic¢s to pupils and schwls in W¢si Su55¢X. The balance of unrestrithd fiJtLds at the year end is £989292 R¢striGted fund5 Jm0unt to £4.199 at the year end and a more d¢tailcd analysis of tht5c thnds are provided in note 17. rdateto fiJnds rec¢ived for specifi¢ puT￿5¢S thatcannot beusd forthe general objects of the Charity. R￿ryeS poliry The process of holding reserves is Cssential part of good financial manaBemcnt pwti¢¢. Th]st¢¢5 ar¢ however. required to justify their legal wr to hold resenres. The Trustees of Wesl Sussex Music Tn]st hav¢ detemiined thai there is a need to secure the organi5alion's viability beyond the immediate future irl order to provide reliable ￿￿1¢ Se￿iCe$ and funding over the longer temi atMI to b¢ abk to absorb downtu[￿$ in income. A fomiula to d¢t¢rniine tbe level of reserves includes.. - wsts ofstsff redundanci& - corblractual rtlationships e.g. l¢as¢s - working requirements any nuL8tandin8 net liabilitics - financing planned investhienrs The level of r¢5crv6s rtquired is reviewed bi-annually or as ne¢￿s￿ry to tske itrto acwunt the aixjve formula. R¢sw>nsibility for wpproving th¢ annual &%sessm¢ni IiE5 with IhE Trustffs. Th¢ Chief Ex¢¢ulive and Head of FIt￿￿e 5￿Uld repDrt to th¢ Ttwslees every year and make siich recommendations foradjustin8the reserves as appropriate. To establish th¢ v8lu¢ of resejves avadable to Trustees knDwn as "free rtscrvts" onie5 hrld for S￿￿]riG pur￿￿%¢5 including restricted fund5 and dtsigttaied hy the Trustee8 for parti￿[ar projects and any monics not availablc for oth¢r us¢s mu5¢ first b¢ deduc4ed. The ￿lleY of the Trust is to kecp all operating free resetve with a minimum balance to reflect the aiK)ve fonnula after dductions. At this balanc4 trustees are confident that they have SCO￿ ￿ tak¢ action to mitigate ¢m¢rging risks and invest in sustainable income g¢n¢ralion. This is suprKJrted throu8h full cost rccovery budg¢ting. A¢¢ura* forecasti￿. and careful treasury martagemellt. Any remaining free reseryes t￿t reqUi￿d under the re5erve5 policy art availablE to dEVElop th¢ work of the tharity, to Tnect its ¢hAritoble objectives. DuigD4t¢d Funds T(Mal reserves includes a number of designated fiiniLs with transfers bcithg ]nade in the year to prnvide for the relocation of the charity and kK>tgntial purchas¢ of A buildingwhith would b￿0m¢ the West Sussex Musicheadquarters. Thc trh]stc￿ also decxded to sct &8ide the iTK8truthtnt &%scts in to a 56parats dcsi8natcd fvnd to enable the xcoutts to present a more transparent view of the operational acUviti¢s of the TrusL Dep￿latIOn charges and ony impairment PrnVj510ll5 ar¢ now charg¢d directly ￿ this fund. Page 3 TR REGlSf RED BER: 0852455 REPORT OF THE TEL8 E YEAR ENDED JI srRATEGIC REPORT FinanciRI revlew Going ¢oncern The current liquidity thal th¢ Tr￿st has av8ilabl¢ to fulfil its obligations and to finance its vngoing operdtions prnvides the basis for the tivste¢8' ¢Ot)¢lusion that thFT¥ is not a material uncertainty that may cast signifi￿l do￿bt on th¢ eDtity's bility to continue ￿ a going cvncern. Prloclpal risiLq uncertairttiey The trustees have a risk managemenl strategy which comprist5 of a quarttrly r¢vi¢w Df the risks the tharity may face and r¢view of all Pr[￿dUral policies. The trust¢cs have &85&8sed thc major ri8ks to which the Trust is exposed and are satisfied th&t systcms are in place to mitigate exw)sureio the major risks. F￿thre plAng Th¢ intM)vations taken during 2022-23 to ki¢kstart new opp)rfunities for childr¢n ond young peopl¢ are being further cmbcddcd in our programme of Activity for 2023-24. Thi8 will inc4udeth¢ followiffig d¢velopm6nts'. We will ￿lYand the fjtt ITemi2Leam whole-clas5 iljstrumental lesson offer to more Year 4 ¢lwses in Areas of hiskoricAlly low sclM)ol ¢ngagtment. This will be oftered to 90 s¢hools a¢r0&8 1 I localiti¢s and tD all special 5th0015 across th¢ cowity. 2. ChiGh¢st¢r Music eentrc will re-osthblish its Sattlrday sessions ortd expand its activlties to young m￿l¢lanS aThJ a n¢w satcllitc music tentre will open atBogrtorR¢gis in the spring lerni. 3. We will open & new ¢x)Tht¢my)rary rnusic centre in Worthin8> throllgh our collaboration with Northbr￿k Coll¢g¢> offer mck band and music tKoduclion se55ions. 4. A new cohort of the Tornorrows 0￿h￿traP[0grarnme (TOP24) will b¢ recruited for a January Start. 5. Or¢h¢strDs In¢.. our ￿C￿31b[e ensemble, will start ttvice4emily rehearsals al one of our muss¢ ¢￿tr¢s. building on tbewerkly s¢55ions happrning iE] sp￿la1 5rhouls. 6. A new atsd cornprehensive schools singing strategy will ¢nabl¢ all schools from Key Stage I to Key Stag¢ 3 ￿ a￿esS a ￿￿ed singing event for their 5thdeThts. New parttL¢f5hips with intemationally known org8ni8Otions'. Olyndeboum4 London Philh8rmonic Orch¢stra, and The Benedetti Foundation will result in new creativ¢ prole¢ts for ¢hildren and young people aThJ for schools Changes in the govemmenvs ￿t￿re fvndiTrE for musiG hubs will mean that from I S¢pt¢mber 2D24, the number of music hubs a¢ros$ England will reduce r￿M 118 to 43. Arts Council Englalld (ACB) has initiated 4 llew ￿M￿lI1ve pro￿55, inviting organisations to apply for therol¢ of b¢iDg a music hub le4d or8anisation from Swtember 2024 onw¥ds. LncBlly, thc Dcpartment for FAlucatioTh (DfE) h&8 decided to fund a Single Su5scx Mu51¢ Hub, consolidating th¢ existin8 o musi¢ education hubs led by West Su&sex MUS￿ {WSM) and Create Musi¢ (CM). 130th WSM and (M have etijoyed a strong collaEorative psrtnership ovtt many years, and we will submit a joint bid, as a consortium, to lead the Sussex Music Hub. West Sussex Music Tjvst and Brighton Dome & Festival Ltd (on behalf of Cre4tr Music) will enter into a fornRI ca)n50rtium agreement to lead the Suss¢x Music Hub. WSM and CM will continu¢ to operate as Indep￿dellt organisations wilh their own ￿￿￿￿eJ￿¢nt and gDv¢ThatKc board5 dtwj deliver work under the￿ own na[Tr￿ in their I￿al areL8 but there will be a single Hiib Board for Sussex that will agrcc the hub's strategic approach to siipporting the National Plan formusic Education use ofth¢ music hub grantacross Sussex. Page 4 Sic TRUS ERKD N 45 REPO HE TRUST R THE YEAR E DED I AUGUST STRucfuRE, GOVERNANCE AND MANAGEMEKr Govemfing documettt West Sussex Mu$1¢ TruBt (trading as "West Sussex Music") is a ¢omp¥my Ilm1￿ by guarantr£ with clwitablc stabJ$', it inCor￿￿rated on 10 May 2013 and r¢gi$ter¢d with the Charity Cotnmission on 3 July 2013. For over 60 years W¢st Sussex Music (originally known as Sussex Musi¢ Support Servire" and latet &8 'Wcst Sussex Music Sejvicc"), w&$ a department within W¢st Sussex County CounGil. Ot) l Novembcr 2013, with the fvll support of West Suswx County Council, tDU5iC seryicts transf£￿ed out of I￿al aUtI￿rIty wntwl to the Trust. All teaching staff and mayrs IiJPE trfinsfcrred to West Sussex Music and ownership of the instrutyjcnt sloGk transf¢rr¢d to the Trust. The trnstees. who also the director5 for the purtx)se of company law, who s¢rv¢d during the yearwer¢'. - Mrs EM Evans (Chair) - Mrs C E Gold¢n Dr C Guillaumier - Mr TM Ri¢hes {retired 21.04.23) - Dr D Skipp (appointd 13.01.23) - Mts G Stainer R¢truitment of Thi$t¢¢ $ The Board of Truslees is responsible for apw)inting trust¢e5, UP to a maximum of nine. New trus¢¢es we recnblted by recommendation and by utilising the knowled￿ of existing trustees who havB a wide n¥twork of contacts in thc voluntary and I￿SInesS wmmuniti¢5 of West Su55ex. Potvthli&l trustees meet with the Chief ExcGutive, and at least on¢ other trusiv¢, to find out more abO￿t the r¢sponsibilities of Yol¢. If both side5 feel they wish to pro￿d, the PDt¢ntial trustee i5 inYit&l to attend a tNstees' meeting as an obseNer. FollowfftDg that meeting a decision is mad¢ wh¢th¢r to invite the individu81 to become atrustee. Induttlon ofTrustee5 All ncw trnstccs join an Induction programme designed to familiarise them with the strat¢gyi manAg¢ment and day-to-day adivities of Wesl Suss¢x Music. Term of oifice The t¢rni of offiee for all tru5tE&4 shall b¢ no more than thrtt ycar5. Retirement tak6s efftct 8t the ¢onclusion of the ¢Bling n¢aresl to the trustee's elccljon anniversary. A trustee shall ix eligible for re-election by the trus¢e¢8, for up to one further lenn of up to three years. After o tm5tee has l¢ft th¢ &)ard, they shall be eligibl¢ for eleclion only after three y¢Ars hav¢ elaps¢d since they Stepped th)wn as tru5te¢. At th¢ trusi¢¢s' meetingon 13 January 2023 the followin8 trnstee retired following theirfirst t¢rm of office.. - Margaret Evang At th¢ twust¢¢s m¢¢ting on 13 J&nuary 2023 the following trustee re-¢l¢cttd for a Second of office: - Margaret Evaus Atthe tmsteds meeting on 21 Aplll 2023 the followinglrustee retired following their 5ecotMI terni of offjce Tim Riches Following this final t¢rni of offi￿, the trustees voted to eA)-OPt rim Riches for a 12 month p¢riod as a non votinE member of the board and flnance committee. The trust¢¢s are rwponsible for adopting the bu5ine55 plan and annual budget, ¢nsuring that the Chsritsble objects are m¢t and thal the business is compliatiÉ. None of the tr￿Itts h&8 any beneficial iMter&%t in the company. All of the trustees 8re members of th6 company and guaranteeto o)ntrAbuie £1 in the eventof a winding up. Pag¢ 5 SEXM BER: 085 RTOFTHET FOR THE YEAR ETrIDED 31 AUGU The management and governance gtrueture of the Ttusl consists of the Board of Trustees and th¢ Senior Lud¢rship TeDm. The Board of Ttustees meet duriDg the year on a quarterly bpsis. The Chief Bx¢¢utivo and He4d of Financ¢ also attend by invitation. The Senior Le8d¢rship Teatt) consists OP - James UnknV0￿ [Chief Bxeeutivel - t£e Hume tHead of Finwc¢l from 2 May 2D23 - IK>uise Pickett Illead of OperatL0115] - Alison Suttoo [As5iStautHeadl - Paul Smyth IAssi$tant Headl- since 01.Q9.22 The senior leadership team runs the Trn5¢ implementing th¢ poli¢ies set by th¢ Board of Truthes and r¢porting back to th￿￿. Budg¢t responsibility has b¢en deleg&ted by tru5tr¢5 to ihe senior leadership team. Thc Senior Icader5hip team is suPport￿j by the bUsjTiE￿ lllal]agBInent team with r¢S￿nSibIlitieS fi)r SP￿l￿G ams of coff d¢liv¢ry. Pay benefits The Remuneraiion Committee exists lo 4dvis¢ the Board to whith 15 is a¢cowitabl¢. Its purpose i5 kn revlew r¢muneration PrnGtiGe within th¢ Twst to staff wcll rnotivthd at appropriots cost and gwd pra¢li¢e is tmployed. The Board h&8 ultimate power to decide at￿￿al salary remuneration for th¢ Chief Executive. Remuncration Committee is reswjnsible forre¢ommendiDg enha￿￿ed bcnefits, including p¢n$ions. REFERENCE AND ADMIf41STRATIVK DETAILS Registernl CompAny number 06524556 (England aTLd Wales) Regi$iered CTharlty numb 1152703 Reglstered offjte Herbert Shincr School South Grove Petworh GU28 OEB Trustees Ms E M Evan5 Dr C Guillaumi¢r T M RiGhe5 Irwigned 211412023) M5 G Staincr Ms C E Golden Dr D G Skipp (appointed 131112023) Comp4ny S￿retary J G Unikrwood Sertlor Ststutory Audltor Shona Wardrop C.A. Auditors ChariotHouse Limited Charte￿d Accountants and Statutory Auditor 44 Grand Parad¢ Brighton BN2 9QA Pwge 6 TRU REG MB REPOR OFT FOR THE YEA TRUS KNDED I AUGU 2023 REFEREf4CE AND ADMINISTRATIVE DETAIL8 J&mes Undwi¥ood Bankers Flagstone 1st Floor. aareville Houst 26-27 Oxendon Str¢¢t London SWIY4EL Virgin Mon¢y PIC 154-158 K¢nsingtDn Hi8h Str¢¢t KensiD¥lon London W8 7RL STATEMENT OFTRUSTEES, RESPONSIBILITIES The trustccs (who also the directhrs of West Sussex Music Trnst for th6 purposes of company law) arc responsible for preparing the Rcport of th¢ Trustees ar￿ the finanGial statements in aGCordan￿ with applicable law and Unsted Kingdom Accounting Stindard5 (United Kingdom Generalty A¢¢¢pt¢d Accoutjling Practic¢). Company liw rtquires thc trnstees to prq)we finatlrial stoternent5 for each finanoial ycar which giv¢ a true and fair vi of the stat¥ of affairs of the charitable company ond of thc incoming ￿ourCeS and application of r&4OUr￿S, including the in￿>M¢ and expenditure, of the ¢harithbl¢ ¢oJnpany for that period. In preparing those f[nanCi￿ slatem￿t4 the tn]8tees ar¢ required to stlectsuitable aecounting ￿lIcI¢S andthen appty thern consisi¢ntiy' obs¢rv¢ the methods and prin¢ipl¢s in the Chllrily SORP. make judgetnents and¢5timale5 that are re&qollable and pNd¢nl Prepa￿ the finan¢ial statEtnEnts OTh the going concern b&8is ullless it is In￿pprOpriate to presume that the tharitable company will contill￿ in busiThess. The tmst¢ts are r￿￿OnSIble for keepin8 proper a¢Wun￿rtg records which disclose with reason?blE #c￿llEGY at any time the fLnan¢io1 positioTh of the charitable company and to enable them to ¢nsur¢ that Ihe fitiancial statements eomply with the CottJpanic5 Act 2006. They are also responsible for safeguarding thE a55¢ts of ihe charitsble company and hencE for taking re&wnable steps lor the preve￿lOn and ddeclion of fraud and other irregularities. In 80 for &8the tnIst¢￿ &war¢'. th¢ff is no Tel￿￿1 audit infomation of whi¢h thecharitsbk coMpw)￿S auditors are unaw¥ and th6 Irustees hav¢ lèken &ll st¢P5 that th¢y nught to h&ve taken to Jnake thcm5¢1v¢s awor¢ of rE16vant audit infomiation and to ¢stsblish ihat the auditors are a￿￿¢ of that inforniation. AUDI'foRS The audi¢OTS. Chariot Hous¢ Limited. will be protKJ5ed forre-appointmcnt atthe forthcorning Annual General Mee¢ing. Report of the trust¢e dire¢tor& on........ Tating a slrategic report. apwoved by ordcr of th¢ of trustees. as the compwly . aTrJ signed on ¢he Ixwd's behalf by: Ms E MEvans- Trusic Pwge 7 F THE INDEPBNDEN USSLIX MUSIC MBERS OF OpinTOIi W¢ hav¢ audited th¢ fina[￿J41 $tatemettts of West Sussex Musi¢ Trnst (th¢ 'chgrhtsble company) for thc year 6]Mkd 31 August 21)23 which compris¢ the Statement of Financial Activities, t￿ Bala[￿£ Sheet, the C&sh Flow Statement and notes to the financial staternett￿ including a summary of significant accounting PK)li¢ies. The fmancial reportitjg framewoA( that ha8 been applied in their pr¢p&ration is applicabl¢ law and United Kingkn Accounting Stsndard5 (United Kingdoin Gen¢rwlly Awtwj AcwunlingPraclice). In our opinion the fiDanGial 5tstements'. 8ive a true and fair view of the state of the chaYii&ble company's affairs as at 31 August 2023 and of its incoming resources and application of resources, including its Dieomc and expenditure. forthe year then ¢nd¢d- hav¢ bEet) prop¢rly prepared ill ￿COrdanCe with United Kingdom Generally Accepted Accounting Prdcti¢e' and hav¢ be¢n prepared iTh accordance with the requirements of the Companies Act 2006. Basi5 fur oplnio We condiicted our audit in accordance with Int¢mational Stand&rd5 on Auditing (UK) asAs (UK)) applicable law. Our re5ponsibilili¢5 under tiM)5¢ Statmlards we fiuther de5Gribed in the Auditors, r￿ponsIbIlitieS for the audit of the fJDancial statem￿tS %e¢tion t)f our report. We are indcpendcnt of the charitablc company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UL including the FRC'S Etlucal Stsndard. and we have thlfilled our other ethical r￿￿1￿sIbilitIeS in accordancc witll thcs6 rquircrnfflt8. We b¢lieve that the audit evidence we have obtaimed is sufficient and appropriat¢ to provid¢ a basis forour opinion. CondusionJ r¢lating to gOI￿g eoneern In audiling the financial Statemen￿ we hav¢ condud¢d that the tn]stees' use of the going concern b￿LS of accounting in the preparntion of the financial StateMet￿ is appropriato. Based on the hav¢ p¢rfonn¢d. we have identified any material uncertainties relating to events or conditiojjs thhL individually or coll¢Gliv¢ly, may txst 5ignifirAllt d(rtJbt on th¢ rhoritabk compan￿5 ability to ri>ntinu¢ #5 & gDing c￿)cern for a period of at leasttwelve months from when the financial sthtements are authtsrised for issue. Our responsibilitics and th6 f￿￿T￿sibIlitIES of the t￿ttE5 with rc5PCCt to going conG6m arc des¢ribed in the ￿l6vant s¢¢li¢ns of this Other Thc tn]stee3 are responsible for the other infomiation. The other inforniation cornprises the information included in the Annual Rejmrt other ilmn ihe fJnJll¢ial s1fyt¢m￿ts and ourR¢portof th¢ Ind¢p¢Thdent Auditor5 tlweoD. Our opinion on th¢ financial statements does not Cover the other inforniation ond, txcept to the extent otherwige explicitly stated in our rwrt. we do llot express any forni of assurjnce con¢lu5ion thewn. In conn¢¢tion with our audit of th¢ fin8nci41 statements, owr r¢sponsibility is to read the other infOrn￿tiOtt atvj, in doing so. wnsid¢r whdher the gth¢r information is materiauy inwnsistenl with the fJTwici41 stol¢m¢nts OT our knowledg¢ obtained in the audit or othen¥ise appears to be materially misstated. If we identify such mat¢rial i￿V￿$￿St￿nG1￿s or apparctht Materi￿ ￿￿5statements, w¢ are required to d¢terniille whethcr this givcs rise to a material ms&%tatement in the fiDaD¢ial stst¢m¢nts themselves. If. based on th¢ WOTk we hav¢ perfomied, we conclude that there is a material misslat¢m¢nt of this other infom)ation, w¢ are r¢quir¢d to retx)rt that fa¢L We have Mthing to rq)ort in this rEgard.' Oplnion$ Ot￿r m4ttcrs prestribed by the CompAThits Aet 2006 Ill our opinion, b￿d on thework undertaken ill the courseofthe audit: the informjtion giv¢n in th¢ Report of th¢ Trnstees for th¢ fir￿￿]dI ye•x ￿r which the financial State￿entS sre pr¢pHred LS COll5i5tent with the flljancial statement5- and Ihc Report of the Tnjstees has bcen prepared in acwrdan¢¢ with applicabl¢ Iwl rqui￿C￿ts. Page B REPORT OF THE INDEPENDENT AUD TO THE MEMBBRS OF M8¢ters on which w¢ are r¢quir¢d to r¢port by exeeplion ln the light of the knowledgE and und¢r5taTLding of th¢ Ghariiable r￿panY and Its envSronmtnt obtalne41 in the course of the audii. we have not identsfJ¢d mat¢rial misstalements in iheReport of the Trustees. We have nothing ¢0 repon in respect of the following matters where the Companies Act 2006 require5 US to report to you if, in our opinion= adcquate accounting T¢￿rdS have not been kept or nturns adcquate for our alldit h4V¢ ilot b￿n r￿CIV¢d from bran¢hes not visited by us. or fhe financial statcmtnts arc notin agrecmcnt with the accounting records and re¢urns' or certain disclosures of trustees, r¢muneJ3tioll specified by Ipdw are not made. we have not r¢c¢ived a]1 tho ihforni&tion ?nd ¢xplan8lionsw¢ r¢qulr¢ for ow audit. RespDnsibUllks of trus(ee5 As explained more fully in thc Statement of Trustecs, Responsibilities, the truste&s (who are also the direclors of the ch4ritabl¢ company for the pu￿03¢$ of Company 1¥4W) ar¢ twwnsibl¢ for th6 pr¢parntion of thG fJnhThcial 5t&tcm¢nts and for bBing satisfied that th6y giv¢ a truc and fair vicw, 5UGh internal coJJlrol 45 the truste¢s det¢rnitne 1$ ￿￿eSsary to enablc thc prcparation of financi￿ statcmcnts that are free from material misstatement, wh¢ihEtr du¢ to fraud or eJTOr. Ill preparing the fjnancial statements, the trustees are responsible for assessing the charitable cOMpa￿Y'S ability to ontinu¢ &% a going coll￿M, dis¢losingi ss applicable, rnatters related Éo goin8 concern and using the going con¢¢rn basis of accountill8 unl¢ss the tNste¢s ¢ither intend to liquidfyt¢ th¢ ¢hwitable ¢ompany OT to opcRtiOll5. or havc no rrali5tiG alt¢Tn&ti￿ but to do so. Page 9 WEST SIJ X MUSICTRU Ourrespomibilities for the audit of the finanelal 8tst¥m¢nts Our obje¢trves ar¢ to obtaln Teasonabl¢ a￿urance abou¢ whether the finan¢ial stalements whole aro free from m&t¢rial misstatement. whether due to fraud or error. a￿d to issue a RerN)rt of the Independent Auditors that ￿el￿deS our opiniort. Retwnable assura￿e is a high level of ossurdnce, but is not a guaranttt that an alldit conducted in accordance with ISAS IUK) will ftlwoys delect a material misstatement when At exists. Misstotements can arise from fraud or error and are CDll5ider¢d inateridl if, individually or in IIK aggregats. they Could r¢asonably bc EXPCGttd to influrnG¢ thE economic d￿]sionS of taken on the basis 0fth￿C financial ststements. The extent to which our pro¢edur¢s ar¢ capable of detecting irr¢gulari¢ies. includingfraud is detailed below: Based on our und¢rstanding of the ¢harity and its 4¢tivities, and thn)ugh dis¢ussion with the trustees oThJ manag¢m¢nL we identified the principal risks of material misstatement knth at the financi41 stat¢mellt leY¢l and at the wertion lev¢l. We considcred these risks in the li8ht of various factors including th¢ level of complexity, subjrctivity) UllL#rtdinty, potential managem¢nl bias, fixud, materiality Thnd any other relevaM fadojs. W¢ ¢onside]td the extent to which these would have a material itnyact ￿ the finanGial 5tatemetts wid d￿1￿1¢1 our auditwork acwdingjy. In identifying gnd AssesBimg risks of mattrsal mlsstst•ment In respeet of irreg￿]￿rit￿. SDcJuding frnud aNd non40mpIIAnee wlth laws hnd regui#tions• our procedurts included the following: W¢ obtsin¢d an ￿derstAnding of th¢ legal and r¢8uIAtory hm¢wot* that thr chartty OPEratcs in, fa￿Sillg on those laws aTJd TegulatioD8 th4t had a n￿terial effeot on the finan¢ial statements or that h&d a fundamental effect on the operalions of th¥ ¢harily fium uur profr5sional dnd s¢rtor exF¢rience. We performed analyticai procedures to identify any unusual or ulltxpeoted relationshLPB that m&y indicate risks of rnthrial m155ta1et￿nt due to fra￿1, and rcviewed significant or unusual transadioD5 to identify their UDd¢riyitig supporting rntion&le We InSp￿d ihe minutes of rne¢tings of those char8ed wlth 8ovemanc4 and mad¢ dir¢¢t ¢nquiri¢s of monag¢ment and the tThrd of tru5tces cA)llcerning the charity's ￿[]¢￿08 and pm¢edur&s relating to.. Identifying) ¢valuating, and complying with laws and reglllations artd wh¢th¢r th¢y w¢r¢ awor¢ of any Instsn￿$ of Thon.complianc4 Det￿ling and respoThling to the risks of fraud and whether they thave knowkdgc of any actslll. suspecl¢d, or a]l¢ged fraud Th¢ internal controls established to mitigate riskg related to fraud or I￿n-coMpli￿nceWIth laws and te8ulatioJL8. In addressing the risk of fraud through management override of controls. wc tCStcd thc apprnpri&ter￿ of jthurnal ¢ntri¢s and other adjustments, assessed whether the judgen)ents made in making a(Younting estimates were indicative of a potential bias and iest¢d 3l8nifi￿￿I tmsartions that w¢r¢ unusual orthose outsidethc nornial course of busffiness. We also.. * discussed and reviewed the charitys busin￿ model and fonv8rd planning to &Sts5 goin8 ￿nCern commurticated applicable Iw¥s 8nd regulations throughout the audit t￿M and remained alert to any indications of non-¢omplign¢e throughout ihe audit. reviewed the fsnancial statemettt disclosures QDd t¢st¢d th¢s¢ to 5UPPOrtillg d(Kumcntation to assess complian¢e wlth wlicable laws and rEgulal)(Itl5. * Carried (xJtsub5tantive testing on in¢ome expendilure * R¢-perfonned r¢con¢ilialions of ¢ontrol aceounts, and r¢calculatEd Ktems swhas depreciation BeGau5e of the inh6rent limitstions of audiL there is a risk that we will not d¢tect all irr¢gulerities, including tIL05¢ leading to a mat¢riol misslat¢m¢nt in th¢ financial statcjnents or non-compliance wilh regulatiott. Page 10 RT QFTHF. DEPE DENT SUSSEX MUSIC TRUST THE MBERS OF This risk inrreas65 the mor¢ that wnplian¢¢ with • law or r¢gVI￿1vts rethoved from the events and transactions r¢fie¢t¢d tn lh¢ finJn¢ig1 statements, as we will be kss lik¢ly to become awar¢ of instances of tM)n-compliancc. Thr risk is alsD greater regording irregularities OCCU￿j￿8 due to fraud rathcr than error, as fraud involves inientional ¢oncealmenL forgery* collusion, omission or misr¢pres¢ntstion A further de5cri&rtion of our re5poDsibilili¢s for the audit of the flnancial statements is located on the Financial Reporting CounGil'5 website at Www.frC￿rg.UklQuditOrsreSponSJbiIitlc& This dG8cription fornis part of our Rep)rt of the lttdepettdent Audityrs. Use of our report This rcport 15 madr so161y to the charitsble company's membeTS. OS a body, in wcwrdan¢¢ wlth ChaO¢r 3 of Part 16 of th¢ Compani¢s Act 2[￿6. Ollr audit Work bEen und¢rtak¥n so that we mighi slai¢ to (hc charitabl¢ company's me[n￿￿ ihose matlrrs we are required to state to them in an ￿dItOrS, report and for no other pUt￿se. To the thllc3t extent p¢rmitted by law, wc do not accept or assume responsibility trj anyon¢ other than the charitabl¢ wnpany and the ¢harilabl¢ ¢ompanls members 48 a body, for our audi¢ worK for this report, orfor the opinion5 ￿ havr fomJ¢d. - KSknp Shona Wardrop C.A. (S¢nior Statutory Audib)r) for and on behalf of Chariot Hou5¢ Limited Charteffd Awountsnts and Statutory AuditDr 44 Grand Parade Brighton BN2 9QA Pagell TR NCI RPO TING AN COME HE YEAR ENDED I AUGU D￿XP 2023 DITUR FOR 2023 Total fwids 2022 T(rtal fi]nds Unr¢stiicted funds JnstrumeJJt fjJnd R¢stricted nd5 Notes INCOME AND ENDOWMENTS FROM Donatlons and legacies 1,083,935 1.083.935 1.143J86 Ch8ritable fi¢tivili Clwitable A¢tivitie5 705,240 705240 473,089 Inveslmcnt income Othcr income 3.721 225 3,721 225 1.160 loo Total 1,793,121 1.793.121 1,617,735 EXPENDTfuRE ON ChArltAbk ietivldes Charitable Activities 1.780,135 74,674 8,665 1,863,474 1,524,710 PIET INCOIVIEJ(EXPENDITURE) Trfiwfers between funds 12,986 {473,578) 174,674) 473,57 (8,665) {70,353) 93.025 17 Net mowement in funds (460,592) 398,904 (8,66S) (70.353) 93,025 RECONCILIATION OF FUNDS Tota] fi]nds brought forward 1.050,980 12,864 1.063.844 970,819 TOTAL FUNDS CARRIBD FORWARD 590.388 398.904 4,199 993.491 1,063,844 The fom) part of these financial statements Page 12 ICTR GIST BALANC 31A 2023 2023 Totsl fund5 Unrestricted funds Insknent fund Restricted funth funds Notes FIXED ASSETS Tqngibl¢ a55ets 14 22.484 398.904 421 J88 494.998 CURRENT ￿￿ETs D¢btors CB5h ai bank 15 49,044 578,511 49.044 581710 44.274 722,498 4.199 627.555 4.199 631.754 766,772 CREDITORS Amounts fa]ling dur within one 16 {59.651) {59.651) (197,g26} NET CURREIYT ASSETS 567,904 4,199 571103 568,846 TOTAL ASSETS LESS CURRKNT LIABILITIES 590,388 398,904 4,199 993.491 1,063.844 NET ASSETS 590,388 398.904 4.199 993.491 1,063.844 17 Unrestricted fu￿lS Restricted fi]nds 989,292 4,199 1,050,980 12,864 TOTAL FUNDS 993.491 1.063.844 The fi ia 51alcments were appTov¢d by the Board of Trustees ond authortscd for sSSU . and wore sigrted on its bchAlf by.. E MEvans. Tru5tce The not¢$ fvrm partof thes¢ finan¢ial $t#¢¢men1s P￿¢ 13 EYE 2023 2022 Notes CAgh flows from operAdng aetlvlrfes Cash genernted from operations (154.823) 245.112 Net cash (used inyprovided by operating activities (154,823) 245.112 Cash llows from inveslinR Activlties Purchase of tangible tixed assets Sale of tangible fixed assets ImpaiJyn¢ntof kntLgTbl¢ fjxed a55ets Intcrcst rcccivcd (12,725) 3,039 21.000 3,721 (11,713) 2,950 ,160 Net¢ash provid¢d byl(used in) investing activities 15.035 (7.603} ange in cash aDd tash equivAlents in the Y¢porting per*xl Cgsh e8sh equival¢nts al the beginAing of the reporting perlod (139,788) 237,509 722.498 484.989 Cash and ￿s￿ equivalents wt th¢ ¢nd of the reportlDg perh)d 582,710 722,498 The not￿ form port of th¢5¢ fin8n¢i&l stat¢m¢nts P8g¢ 14 TR NOTES TO I'HE CASII FLO STATEIIIENT RECONCILIATION OF NET (EXPENDITUREYINCOME TO NET CASH FU)W FROM OPERATING ACTIVITIES 2023 Net (expenditureyincome for the reporting period (as per tho Statement ofNoxntlAI Aetivities) Adjustm¢nts for: DepTe¢iation Ghar Int¢r¢st rewived in d¢btots (DeGrCaseYir￿rea5e in cjrditors (70.353) 93.025 62,296 (3,721 } (4,770) (138,275) 60,197 (1,160) (16,443) 109,493 Net ￿$b (used inyprovided by operations (154,823) 245,112 ANALYSIS OF CHAIYGES IN ]yrr FUNDS At 119122 C&th flow At 3118123 N¢t ¢j￿h Cash at bank 722.498 (139,788) 582,710 722,498 (139.788) 582,710 TotAI 722,498 {139,788) 582.710 The note5 fomi part of th¢se rjJ￿nClal statemcnts Page 15 WEST S THEFIN DED TATE ENT OR TH ACCOUNTING POLICIES Aeeountlng eonventlon The financial statements of the cliaritable company. which is a public beneflt entity under FRS 101 have been prepa￿ in accordance with the Charities SORP IFRS 102) 'Accouthting at￿ Reporting by Charities.. Statement of Reeommettded Practice applicable to cbarities preparI￿g their accounts in accordance with the Fingfflci&I Reporting Standard applicable in the UK and R¢publi¢ of IrelaThl (FRS 102) (effective l January 2019).. Financial Rwrting Stwidard 102 The Financial Reporting Standard applicable in the UK and RepubliG of Ireland, aTwJ the Companic5 Act 2￿6. The finanGial statem¢nts havE bEEn PN)ard und¢r th¢ hi5toricAI Cost conv¢ntion. The flnancial statements are prepared in 5tcrlill8. which is the functional cutTency of the trusL Moiictary amounts in these fiJwJ¢ial ststements or¢ munded ty the nearest £1. Th¢ charity is 2 publi¢ b￿cfl1 entity as defined by EIRSIO2. Going CoDc¢rn Th¢ fLnan¢iil statemEnts havc bcen on & going concern b￿I8. The trustees have considered all relevat inf0M￿tiOn , including the annual budg¢t, for¢¢ast¢ future Cash flows and the impa¢l of subsequEnt evtnts in muking thEir a55e55mTation Tjx Ad 2010 or SeGtiDn 256 of the Taxation of Cha￿¢able Gaills Act 1992, to the ¢xtrnt th* swh income or gains ajr applied exclusively to charitable ￿TpoSeS. Fund fiCCOUDting Unrestricted ￿ndS can b¢ used accordance with th6 tharitablBobj¢div65 at th¢ dis¢r¢tion of the tn]st¢¢s. Restri¢tcd furtds only bt used for particular restrided pur]xbs&s within the objects of the Gharity. Re5tri¢tions arise when spe¢ifi¢d by the donoror when futKls are raised for particular ￿striCt￿ p￿ry￿s. D¢signot¢d funds ar¢ set asid¢ for a $pe¢ific purpD5e as asr¢Ed by the knard and fund5 ¢aTh be undesignated at Iheir wue5t. Further explajmtion of the nature and putpos¢ of each fjjnd is included in the JK>tBS to thEfJnanGial statemEnts. Pon&lon costs *Thd oth¢r post-retirememt benefits Retiremertt bethefits to employees of th¢ trust are provided by the Govcmmcnt Pension SGhemc (IGPS which is a defined beD¢fi¢ sch¢m¢ a￿1 855cts arc held separatsly from those of th¢ trust. Th¢ LGPS is a funded defined benefrt s¢b¢m¢, tU)WEVEr it W45 a8r¢Ed on transfer that this is to be deali with on pass through basi& tlleatiing that County Council undenvrite any ￿￿510￿ liabilitieg ènd tt*refore this hLg been account￿ for as a dcfincd contribution scheme. The trust also Operat￿ a Pwple's P¢n5ion scheme which is a d¢fin¢d contribution pension sch¢me. Contributions e ¢ha￿ed in the &¢¢ounts as they b¢¢ome payabl¢ in accordance with the rules of thescheme. Pdg¢ 17 continued... TOT Fl IAL FOR THE YEAR ENDED 31 AUCUST 20Z3 AccouiYfiNG POLICIES- tontixued Caah and cAsb 4wivhlents Cash and equivalents include cash hand, short tenn liquid ithvubnents with a maturity of tlwee months or l¢&s fnm th¢ date of a¢quisi¢ion or O￿ni￿g of ih¢ d¢posit or similar accounts. Bank overdrafts are shown witbi IK)rrowings and ¢utTent liabilities. FlnaMcl%l instRvmeThts The trust only financial ￿et8 a￿1 liabiliti¢s of a kind that qualify a5 b&sic flnancial instnLCtions in line with S¢¢tion I I 'Basi¢ FID￿claI Instrum¢nts" and S¢ctton 12 "Other Financial jnstwm￿l Issues" Basic finAncial instNmcnts are iTLitially rero8niscd at transaGtionvalue and subsequently measured at their settlementvalue. Trade and other debtors are reeosnised at the settlement Jmount du¢ after any trade discount offcred. Prepayments are vJlu¢d at the Amount prepaid neiof any discounts due. cr￿j￿r8 and provisions 4rg T￿08n1s￿ whor the charity present obligation resulting a p&%t ¢v¢nt that will probubly K5uIt in thE tran5f¢r of fund5 to a third party and th¢ arnouDt due to 8¢tt1e th¢ obligalion can b¢ measured or estimatd reliably. Creditors and provisians are nornially recognised at ih¥ir ￿￿1¢￿¢￿( atThuunt after allowing for any trad¢ discounts d￿. CRITICAL AccouNfING JUDCEMENTS AND KEY SOURCES OF LgTIMATION UNCERTAINTY In the appli¢ation of th¢ tyys¢s wccounting ￿11¢1¢$ the tnthes are required to make jUdg￿n¢￿ts. estimated, and &ssumpiions about th¢ ¢arrying amount of assets and liAbilitie5 that aTE not readily apparent from othcr .8our¢¢s. The estimates aNI a$soci&ted &ssiimptions are based on historical eX￿lence and other factors that are nsider¢d to be r¢levant. A¢ttJal results may diff¢r fm th¢5e c5timat¢s. Thc &8timates and underlying assumptions are reviewed on an ongoing basis. Revisiots kn a¢c(Mmting estimat¢s are r¢¢ognis¢d in the iij which the c5timat¢ is rcvised where the r¢visivn affKts only tha¢ p¢riod, or in the period ofthe revisM)n and fiJ¢ur¢ p¢riods where the revision F4ffects both currettt and future pcriods. DONATIONS AND LEGACIES 2023 DortatiOll8 Grants ,169 1,075,766 7,318 1,136,068 1.083,935 1,143,386 Grants re￿Ived. included in the above, as follow5.' 2023 2022 Arts cl￿nCil England Arts Council England Cultur¢R¢wY¢ry Fund HertfordshireMu5i¢ Service West Suss¢x County Council 1,059,948 967,732 160,753 1,500 6,083 15.818 1,075,766 1.136,068 Pag618 continued... HE FOR THE YEAR EI NDED AL STATEMENTS_ t GUST 2023 INVLrnNT INCOMB 2023 2022 Dysit a￿Unt interest 3.721 1.160 INCOME FROM CHARITABLE ACTIVITIES 2023 Charitable Activities 2022 Toknl acliviti Musi¢ education 705,240 473,089 CHAIUTABL& AcfIvITIES COSTS Grant funding of activities (see note Direct Costs Ise¢ te7) Support costs (see no* 91 8) Totals Charitable Adivilies 794.855 132,685 935,934 1,863,474 DIREcf CO￿ OF CHARITABLE AcfIviTIES 2023 2022 Staff costs Lvent Losts Instn]ment CThgts Musi¢ Purchase Professional Fees.. Music Rooin Hi Saf¢guariling &Risk Assessment Teaching R¢sourc¢s Holiday Activiti Depreciation ImpaimKnt IDSSC5 497,679 58,753 33564 616,273 8J77 65.199 4.762 87,907 32,983 6,893 414 86,905 31.078 931 8,065 2,006 53,674 21.000 53.590 794,855 876.398 Page 19 continu¢d... EST SUSSEX MUSI THE FINAN IAL EAR ENDED 31 A MKNTS- to FOR'r GRAIYTS PAYABLE 2023 2022 Charitable Activities 132,685 47,233 SUPPORT COSTS Other costs 21)23 Al]otAtffioD ofeosts Staff costs Deprecialion Total Costs Music Education Activitie5 undertaken dir￿tlY Supportcosts (excluding gOV￿naNce) 687,439 528,504 74.674 349.560 .623 141293 1,111,673 679,421 Total (3ovemance Costs 1215.943 53.769 83298 491,854 18.610 1.791,094 71380 Toknl resoMree5 expended ,269,712 83298 510,464 1.863,474 Other direGt Costs snclude5 the grants awarded of £132.685. Other govern4nc¢ ¢osts are made as follows. Senior Management time allocated Audit and accountancy fee5 Bw]k Gharges a]id ptY)cessing Recruitment Costs 53.769 7,379 4.800 6,432 71380 NET INCOMEI(EXPENDITURE) Net income1(ex￿lditurc) is statcd after chargingl(rrdiling)'. 2023 2022 Depr￿latt0￿- owned assets Auditors reJnDneration- audit fees Auditors r¢muneration- non auditfe¢8 62,296 6,500 1500 60.197 6,500 2.500 P8E¢ 20 continued... TR THE FINAN AREN ED 31 AUGUST 2023 TRUSTEES, REMiINERATIOP4 AND BEf4EFITS There w¢tt no trustees, remunerntioTh or other bcnefits for the year ejjded 31 August 2023 nor for the year end 31 August2022. Tn￿tte$, expenses There were no tswtees, exp¢nses paid for th¢ year ¢ndEd 31 August 2023 nor for the yw ended 31 AllBusI 2022. 12. STAFF cosrs 2023 2022 Wages and $41ari Social s¢curity costs Oth# pension costs 1.113.917 78,138 77.658 913,935 63.968 65,716 1,269,713 1,043,619 The ayuagen￿nthjY numberof employees during the year was as follows: 2023 2022 19 45 Cenlral (in¢lL￿1￿% adminlgttydti(m) Delivery staff 41 63 64 The Dumbttof employees whose employ¢¢ benefits {¢x¢luding ¢mploy¢r peJ]sion Costs) exceeded £60.000 W￿.. 2023 2022 £60,001- £70.000 £70.001 £80,000 £80,001- £90.000 The total remurleratton paid to Key ManaBementPeysomiel durlngiheyear was £280,905 {2022. £232,157). 13. COMPARATIVES FOR THB STATEMENT OF FINANCIALAcfiviTIES Unr¢5tri¢ted fvnds l]]strumcnl Restri¢teil ful￿8 fund nds INCOME AND ENDOWMENTS FROM Donatlons and legaci 1.143.135 251 1,143.386 Charltable ielfvities Charit8blc Activitie5 473.089 473.089 Jnyestment income her inwn 1,160 100 1.160 loo TotAI 1.617,484 251 1,617,735 Page 21 continued... TR NOTES 13. COMPARATIVES FOR THE STATEMENT OF FIJYAiYCIAL ACTIVlTILS- ¢oDtiiiu¢d UrJre5tricted Instrujnent Restrithd funds fund fi]nds Total funds EXPENDrruRE ON Chorlt#bk i¢dvltl¢s ChaTitablE Activities 1,504.608 20.102 1.524.710 NET INCOMFJ(EXPENDfTURE} 112,876 (19,g51) 93,025 RECONCILIATION OF FUNDS Tot&1 fimds brought fonvard 938.104 32.715 970.819 TOTAL FUNDS CARRIED FORWARD 1.050,980 12,864 1,063,844 14. TANGIBLE FIXED ASSETS Improvements Fixtur¢s Computer equipment propcrty Instn]m¢nts fitbngs Totals COST At I September 2022 Additions DisposNIs Imp8irnients 15.705 1.073.490 11.380 9,232 91,721 3,493 1.191296 11725 (7,599) {21.000) (7,599) 121,000) Al 31 Augu$t2023 15.705 1.044.891 20,612 95214 1,176,422 DEPRECIATION At I September 2022 Charg¢ for year Eliminated on diswjsal 15.705 596.873 53,674 (4,560) 9,816 3,037 74,1 5,585 697,298 62,296 (4,560) At 31 Au8USt 2023 15.705 645.987 12,853 80.489 755.034 NET BOOKVALUE At 31 August 2023 398.904 7,759 14,725 421.388 At31 Au8USt2022 476.617 1.564 16,817 494,998 Page 22 continued... EX MUSI TR OT.ES TO THE FI STATEM FOR THE YEAR ENDED 31 AUGUST 2023 15. DEBTORS: AMOUNfs FALLING DiJE WITHIN ONE YEAR 2023 2022 Trade debtors Provisillll For B*J Debt Olherdebtors Prepayments and accnjed income 18,677 (5,630) 5,875 30,122 46,516 {23,393) 435 20,716 49,044 44.274 CREDITORS: Amouiyfs FALLING DUIL WITHIN ONK YEAR 2023 2022 Trade cmlitors Social 5ccurity and othertaxe Other credito AGrrua15 and deferred inc¢)me 17.631 23,039 9.561 9,420 28.071 17.068 6,8Y2 145,895 59.651 197,926 17. MOVEMENT IN FUNDS Net movement in fi]nds Transftrs betwccn At 3118123 At 119122 U*re5trlcted fullds Gcncral fi]nd Futllre BuildingFund D¢5ignated InstrumeTht fuThJ 850,980 200.UOO 12,986 {506.854) 33,276 473.578 357,112 233,276 398,904 (74.674) 1.050.980 (61.688) 989.292 Restricted funds Music Centr&s WestDene Fund Warthing Lions Tour Mu51¢ for All 7,852 2,750 430 1,832 (6,833) 1,019 2.750 430 (1.832) 12,864 (8.665) 4.199 TOTAL FUNDS 1,063,844 (70,353) 993.491 Pag¢ 23 Conlinued... WEST EXM RUST i. FINAN AR KNDED 31 AUG 2•23 17. MOVEMENf IN FUIYDS- contlnuÈd movemenl in fimds included in the al￿ are as follows: IDcoming R￿urCeS exp¢nded Mov¢ment in funds Unr¢s¢rlcted fund5 General fund Desiydt¢d Inst￿m¢nt fund 1,793,121 (1.780.135) (74.674) 12.986 (74.674) 1.793,121 (1,854,809) Restrlctrd funds Music Centres Music for All (61.688) (6.833) (1.832) (6,833) (1.832) (8.665) (8.665) TOTAL FUNDS 1.793.121 (1.863,474) (70.353) Cfjmp8rgtiv¢s for moyement tn funds Nel mov¢m¢nt in funds TranSf￿S betweeD funds At 3118122 At 119121 Uni'tstwltted funds Generdl fund Futurc Building Fund 938.104 112.876 (200,000} 200,000 850,980 200,000 938.104 112,876 Re5trfctsd Music Centrcs Ho￿haM Council Instrum￿¢ Fund Accessibl¢ Orth¢stra WestDeneFuDd Worthing Lion5 Tour Music forAiI 1,050.980 13,954 507 384 11,829 2,75Q 1.000 2.291 (6.102) 1507) (384) 111,829) 7,852 2.750 430 1,832 {570) (459) 31715 (19,851) 12,864 TOTAL FUNDS 970.819 93,025 1.063.844 Page 24 c4mt1nu￿... WEST TR THE FINA riOR THE YEARE DED 31 AUC ued 23 17, MOVEMENT Ir4 FUNDS- eontlnutd Comparative net moverneni in fvnds, included in th¢ at*)v¢ areAS follows: 1￿cOMing resollrces Resour¢es Movement exp¢nded In funds Unrestrftted funds Generni fund 1.617,484 (I 504.608) 111876 Restrlded funds Musi¢ Centr¢b' Horsham Council Instwm¢Dt Fund Accessible Orchestra WorthingLions Tcmjr Music for All (6.102) (507) {384) (12.079) (570) {460) (1102) (507) (384) {11,829) (570) (459) 250 251 (20,102) (19,851) TOTAL FUNDS ,617,735 (1,524,710) 93,025 The purpos¢s of th¢ r￿triCted fi]nds are 8s follows: The Music C¢ntres' Inco]ne is T¢slricted for the purwse of wisting five Musl¢ C¢ntres, being Worthin& Horsham. Haywards Heath, Chichc5t6r and Crdwley. Th¢Horsham Council grant is restri¢ted forih¢ purp)s¢ ofthe Horsham Y¢arof Culture. The In51rum¢nt fvnd is r¢slri¢ted to eithcr t}￿ purchase of new instruments or the [6ft￿ishment of ¢￿StAD8 in$tttmi¢tts from the disposd pr(*eeds of existing instrum¢nts. ThE Acc<55ibk Or¢h¢stra Fund is ￿tricted to the teathing and providing of orch¢stw for ajl childtEll. The Wesl D¢n¢ Fund is restrioted eorthe'crawley Sitigs. event. Th¢ WorthingLions Tour donatiort15 r¢5trid¢d for usc on th¢ Mvsic C¢ntres Tour. The Mu5ir for All income is r¢stri¢t¢d to grants for specifi¢ pupils to parti¢ipat¢ in mu5iG le550ns. i& EMPLOYEE BENEFIT OBLIGATIONS Loc41 GovernmentPension Sckeme The LGPS is & funded defined ben¢fit scheme. it wts agreed on transfer that this is to Lx dealt with a pass through, basis. meaftittg thai Cwnty CffjullGiI underwri1¢ any pension liabilities and therefo￿ this has be¢ll a¢¢ouTrted for as a d¢fiT¢d contribution SC￿Me. Th¢ agreed employer Contribution rate was 22.7% to Ma￿h 2022 and 21.ph of ￿￿IOnable pay ther¢aftet. Th¢ total ¢mploy¢r contributions made for thc year ¢nd¢d 31 Au8USt 2023 wa5 £24.449 (2022.. £27,904). Oth¢r p￿S￿ort schemes The trust op¢rates a definitc contributiott p¢nsion schem¢ for 011 qudifying employe¢s. The assets of th¢ s¢h¢m¢ or¢ h¢ld sepaTately from thos¢ of the trust in an indeE￿o￿tlY wlministsr¢d hjnd. The charge for the year for ¢mployer5 mntributlOll5 wa5 £53309 (2022: £37.812). Page 25 ¢ontinued... EST usr TES TO THE FIIYA VOR THE YEAR ENDED 31 A bTAT GUSJ, 202 ued 19. RELATED PARTY DiSCUISURES There were no reiakd party trfynsa¢tions for theyear ended 31 Au8USt 2023. Page 26