## **STEEL PAN TRUST**
FINANCIAL STATEMENT
_1[st] August 2020 – 31[st] July 2021_
## **Index Contents Page**
Audit Report....................................................................................................................3 Statement by Director....................................................................................................4 Profit and Loss Statement...............................................................................................6 Balance Sheet.................................................................................................................7 Notes to the Financial Statements.............................................................................8-10
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**Audit Report**
To the trustees of
Steel Pan Trust
## **Scope of Audit**
We have audited the attached special purpose financial report of Steel Pan Trust for the year ended 31[st] July 2021 as set out on pages 6 to 8.
The Trustees is responsible for the preparation and presentation of the financial report and the information it contains and has determined that the accounting policies used and described in note 1 to the financial statements which form part of the financial report are appropriate to meet the requirements of the _Charities Commission_ and are appropriate to meet the needs of the members.
## **Audit Opinion**
## A. Audit Opinion (unqualified)
In our opinion the financial report presents fairly the financial position of the Steel Pan Trust and the results of its operations in accordance with the Charities Commission Standards.
Signed
Dated 27/01/22
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## **STEEL PAN TRUST Statement by the Director Shareen Gray BA (Hons)**
August 2020 – July 2021 has been very unpredictable but also very innovative at Steel Pan Trust. With funding from the London Community Response Fund and Reaching Communities we were able to provide robust online services that have proven to be a success. We were also able to give many musicians the opportunity to do online performances and we had an audience of over 1,000 people for each online concert. This has naturally opened Steel Pan Trust up to the idea of incorporating more online work and utilising our social media platforms that grew substantially during this time. We have a monetised YouTube account that is providing the charity with small but consistent monthly income with the opportunity for growth.
Our services during this time included online classes for Camden residence, beginner classes for Londoners and master classes offered globally. The latter was a valid experience as we met more than 50 steel pan musicians from across the globe and created some very diverse networks. Our online performances include 35 musicians and our tutors completed more than 200 hours of online tuition. We are very pleased to have been able to offer artist these services when arts activities were extremely restrictive during lockdown.
Our conventional events Classorama (annual school steelband festival) and Pan Clash (young people soloist competition) had to be postponed during the pandemic. We used this time to collect data and learn from schools, pupils and young people how we can make these events better for 2022. This feedback has created an evaluation report that we believe is going to improve these events to make them far more inclusive, enjoyable and credible.
We have also had the opportunity to work with international steel pan tutors which was a phenomenal experience adding to the quality of services that we deliver as well as expanding our networks. This included Sean Thomas and Andre White from America and Trinidad and Tobago.
Our trustees also took the time to redefine Steel Pan Trust’ mission, vision and values. We aim to maintain the rich culture and heritage of the Caribbean. We do this by providing inclusive music workshops, public performances and educational projects. We will expose steel pan to a wider audience and further its inclusion in the commercial music arena. Our vision is bringing steel pan music into mainstream education, reaching communities and strengthening its unique sound within the commercial music industry. Our values are fun, learning, inclusivity, innovation and collaboration.
For 2022 we will be focusing on delivering well-being projects to people of all ages and abilities. This is because we believe during current times this would be the best value our charity can bring to communities. We also hope to develop some long-term projects with Ealing Music Service. As our Greenford steel pan classes could no longer continue, we used the remainder of our John Lyon’s Charity grant to deliver sessions at Grange Primary School in Ealing for their year 4’s during the summer term 2021. We delivered weekly sessions for 45 pupils over 13 weeks and it went incredibly well. As the pupils had not long returned from lockdown they found this activity very enjoyable and it was a great way to bring joy to this school. We hope to run similar projects with
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Ealing schools and more specifically where there is restrictive access to learning and playing music.
We confirm as follows:
(a) The name of each trustee during the relevant financial year were: Shareen Gray BA (Hons), Cheryl Augiste, Kevin Joseph and Edivaldo Reis.
The principal activities of the charity during the relevant financial: Online steel pan tuition, workshops and performances.
## **FINANCIAL REVIEW**
## Financial Position
The Trustees reviewed the accounts and declared the charity to be in healthy financial position.
The principal funding sources came from grants and our fundraising activities.
## Reserves Policy
We do not have a reverse policy for this financial year. We will have a reserves policy for our upcoming financial year.
## **PUBLIC BENEFIT REPORTING**
The trustees confirm that they have paid due regard to the Charity Commissioners’ guidance on public benefit in deciding what activities the charity should undertake.
Signed, on behalf of the trustees
Signed at 354 Oldfield Lane North Greenford Middx UB6 8PT
On 27/01/2021 Trustee Trustee
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## **Steel Pan Trust**
## **Profit and Loss Statement**
## **For the year 31[st] July 2021**
|**Notes**|**31st July**
**2021**
**£**
**31st July**
**2020**
**£**|
|---|---|
|**Income**
Income resources from generated funds (2)||
|**Total Income**|**29,153.75**
**67,925.09**|
|**Expenditure**
Resources expenditure from charitable activities (3)||
||**16,791.17**
**19,069.38**|
|**Funds brought forward**|**61,610.23**
**49,362.33**|
|**Surplus/(Loss) For The Year**|**12,363.00**
**48,855.71**|
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## **STEEL PAN TRUST**
## **Balance Sheet**
## **For the year ended 31[st] July 2020**
|**Notes**|**31st July**
**2021**
**£**
**31st July**
**2020**
**£**|
|---|---|
|**Current Assets**
Tangible fxed Assets
Cash|61,610.23
49,549.43|
|**Non Current Assets**
Land (if prescribed property show at nil value)
Plant and equipment|0.00|
|**Total Assets**|61,610.23
49,549.43|
|**Current Liabilities**
Creditors|0.00
0.00|
|**Non Current Liabilities**
Loans|0.00
0.00|
|**Net Assets**||
|**Members Funds**
General
Unrestricted Restricted|61,610.23
5,000
49,549.43
5,000|
|||
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## **Steel Pan Trust**
## **Notes to the Financial Statements**
## **For the year ended 31[st] July 2021**
## **1. Summary of Accounting Policies**
The accounting policies adopted are in order to assist in a general understanding of the financial statements. These policies have been consistently applied except as otherwise indicated.
## **2. Income resources from generated funds (1[st] August 2020 – 31[st] July 2021)**
|**Incoming**|**Costs £**|
|---|---|
|Camden Giving|£28,490.50|
|Workshops|661.49|
|Google|1.76|
|**Total**|**29,153.75**|
## **3. Expenditure (1[st] August 2020 – 31[st] July 2021)**
|**Items**|**Costs £**|
|---|---|
|Administration|3,686.57|
|Charitable activities|15,141.30|
|Banking fees|90.00|
|**Total**|**16,791.17**|
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