| PAGE | |||||||
|---|---|---|---|---|---|---|---|
| Trustees' | annual report |
(incorporating | the | director's | report) | ||
| Independent examiner's |
report to the | trustees | |||||
| Statement | offinancial | activities (including | income | and expenditure | account) | ||
| Statement | offinancial | position | 10 | ||||
| Statement | ofcash flows | ||||||
| Notes to | the financial statements | 12 |
| REFEREN | CE AND ADMINIS | CE AND ADMINIS | CE AND ADMINIS | TRATIVE DETAILS | TRATIVE DETAILS | TRATIVE DETAILS | ||
|---|---|---|---|---|---|---|---|---|
| Registered | charity name | Calderdale Music Trust Limited |
||||||
| Charity registration | number | 1154343 | ||||||
| Company | registration | number | 08597862 | |||||
| Principal | office and registered | Heath Training | And Development | Centre | ||||
| office | Free School Lane | |||||||
| Halifax | ||||||||
| West Yorkshire | ||||||||
| HX1 2PT | ||||||||
| THE TRUSTEES | CWightman | (Primary School |
||||||
| Headteacher) | ||||||||
| SWild (Leeds | Arts Form) | |||||||
| KRivett | (Retired 30 | April 2020) | ||||||
| P N Brennan | (Education | |||||||
| Consultant) | ||||||||
| T Gwynn (Eureka Manager) | (Retired 13 | March 2020) | ||||||
| P Reynoldson | (Rochdale Music | |||||||
| Service) | ||||||||
| SPJones | (Appointed | 20November 2019) | ||||||
| D JHeywood | (CMT Principal) | (Appointed | 9June 2020) | |||||
| RKelly | (Appointed | 20November 2019) | ||||||
| SRLone | (Appointed | 20November 2019) | ||||||
| A JSapey | ||||||||
| Independent | examiner | EA Short FCA | ||||||
| Equitable House |
||||||||
| 55Pelion Lane | ||||||||
| Halifax | ||||||||
| West Yorkshire | ||||||||
| Hxl 5SP | ||||||||
| Bank | Lloyds Bank | |||||||
| Commercial | Street | |||||||
| Halifax | ||||||||
| HX1 1BB | ||||||||
| Solicitor | Wilhinson Woodward |
|||||||
| 11Fountain | Street | |||||||
| Halifax | ||||||||
| HXI 1LU |
| YEARENDED 31JUL | Y 2020 | |||||
|---|---|---|---|---|---|---|
| 2020 | 2019 | |||||
| Unrestricted | Restricted | |||||
| funds | funds | Total funds | Total funds | |||
| Note | 5 | |||||
| Income and endowments | ||||||
| Donations and legacies |
5 | 9,332 | 348,339 | 357,671 | 339,133 | |
| Charitable activities |
6 | 228,655 | 228,655 | 375,317 | ||
| Total income | 237,987 | 348,339 | 586,326 | 714,450 | ||
| Expenditure | ||||||
| Expenditure on charitable |
activities | 7,8 | 225,099 | 370,876 | 595,975 | 632,970 |
| Total expenditure | 225,099 | 370,876 | 595,975 | 632,970 | ||
| Net (expenditure)/income | 12,888 | (22,537) | (9,649) | 81,480 | ||
| Transfers between funds |
(7,536) | 7,536 | ||||
| Net movement in funds |
5,352 | (15,001) | (9,649) | 81,480 | ||
| Reconciliation offunds |
||||||
| Total funds brought forward |
707,322 | 130,344 | 837,666 | 756,186 | ||
| Total funds carried forward | 712,674 | 115,343 | 828,017 | 837,666 |
| 31JULY 2020 | ||||||||
|---|---|---|---|---|---|---|---|---|
| 2020 | 2019 | |||||||
| Note | ||||||||
| FIXEDASSETS | ||||||||
| Tangible fixed assets | 14 | 152,787 | 168,901 | |||||
| CURRENT ASSETS | ||||||||
| Debtors | 15 | 18,152 | 36,883 | |||||
| Cash at bank and in hand | 751,611 | 714,439 | ||||||
| 769,763 | 751,322 | |||||||
| CREDITORS: amounts | falling due | |||||||
| within one year | 16 | 94,533 | 82,557 | |||||
| NET CURRENT ASSETS | 675,230 | 668,765 | ||||||
| TOTAL ASSETSLESS | CURRENT | |||||||
| LIABILITIES | 828,017 | 837,666 | ||||||
| NET ASSETS | 828,017 | 837,666 | ||||||
| FUNDS OFTHE CHARITY | ||||||||
| Restricted funds | 115,343 | 130,344 | ||||||
| Unrestricted funds |
712,674 | 707,322 | ||||||
| Total charity funds | 20 | 828,017 | 837,666 |
| 2020 | 2019 | |
|---|---|---|
| CASH FLOWS FROM OPERATING ACTIVITIES | ||
| Net (expenditure)/income | (9,649) | 81,480 |
| Adjustments for: | ||
| Depreciation oftangible fixed assets | 19,702 | l9,676 |
| Government grant income |
(9,332) | |
| Accrued expenses/(income) | 11,378 | (2,535) |
| Changesin: | ||
| Trade and other debtors | 3,147 | (2,242) |
| Trade and other creditors | 16,182 | 12,620 |
| Cash generated from operations |
31,428 | 108,999 |
| Net cash from operating activities |
31,428 | 108,999 |
| CASH FLOWS FROM INVESTING ACTIVITIES | ||
| Purchase oftangible assets |
(3,588) | (14,388) |
| Net cash used in investing activities |
(3,588) | (14,388) |
| CASH FLOWS FROM FINANCING ACTIVITIES | ||
| Government grant income |
9,332 | |
| Net cash from financing activities |
9,332 | |
| NET INCREASE IN CASH AND CASH EQUIVALENTS | 37,172 | 94,611 |
| CASH AND CASH EQUIVALENTS AT BEGINNING OFYEAR | 714,439 | 619,828 |
| CASH AND CASH EQUIVALENTS AT END OFYEAR | 751,611 | 714,439 |
| DONATION | S AND LEGACIES |
|||
|---|---|---|---|---|
| Unrestricted | Restricted | Total Funds | ||
| Funds | Funds | 2020 | ||
| GRANTS | ||||
| Grants receivable | 348,339 | 348,339 | ||
| Government | grant income | 9,332 | 9,332 | |
| 9,332 | 348,339 | 357,671 |
| Unrestricted | Restricted | Total Funds | ||
|---|---|---|---|---|
| Funds | Funds | 2019 | ||
| GRANTS | ||||
| Grants receivable | 339,133 | 339,133 | ||
| Government | grant income | |||
| 339,133 | 339,133 |
| CHARITABLE ACTIVITIES | ||||
|---|---|---|---|---|
| Unrestricted | Total Funds | Unrestricted | Total Funds | |
| Funds | 2020 | Funds | 2019 | |
| School teaching income | 92,387 | 92,387 | 136,717 | 136,717 |
| Pupil Tuition | 125,738 | 125,738 | 210,764 | 210,764 |
| Concerts | 74 | 74 | 3,444 | 3444 |
| Other income | 455 | 455 | 3,483 | 3,483 |
| Rock School dr. Virtual School | 5,750 | 5,750 | 11,317 | 11,317 |
| Room hire | 4,251 | 4,251 | 9,592 | 9,592 |
| 228,655 | 228,655 | 375,317 | 375,317 |
| EXPENDITURE ON CHARITABL | E ACTIVITIES BYFUND TY | PE | |
|---|---|---|---|
| Unrestricted | Restricted | Total Funds | |
| Funds | Funds | 2020 | |
| Teaching for pupils | 49,255 | 121,409 | 170,664 |
| Music centres | 7,036 | 17,344 | 24,380 |
| Teaching for schools | 60,985 | 150,317 | 211,302 |
| Support costs | 107,823 | 81,806 | 189,629 |
| 225,099 | 370,876 | 595,975 | |
| Unrestricted | Restricted | Total Funds | |
| Funds | Funds | 2019 | |
| 8 | |||
| Teaching for pupils | 43,459 | 200,745 | 244,204 |
| Music centres | 13,969 | 64,524 | 78,493 |
| Teaching for schools | 20,177 | 93,202 | 113,379 |
| Support costs | 127,634 | 69,260 | 196,894 |
| 205,239 | 427,731 | 632,970 |
| EXPENDIT | URE ON CHARI | TABLE ACTIVITIE | S BYACTIVI | TY TYPE | ||
|---|---|---|---|---|---|---|
| Activities | ||||||
| undertaken | Total funds | Total fund | ||||
| directly | Support costs | 2020 | 2019 | |||
| Teaching for | pupils | 170,665 | 77,453 | 248,118 | 349,859 | |
| Music centres | 24,380 | 11,066 | 35,446 | 112,456 | ' | |
| Teaching for | schools | 211,300 | 95,893 | 307,193 | 162,433 | |
| Governance | costs | 5,219 | 5,219 | 8,222 | ||
| 406,345 | 189,631 | 595,976 | 632,970 |
| on the activities. | The prop | ortions are 52 |
ortions are 52 |
%parents, 6% | music centre a | nd 42% schools | . |
|---|---|---|---|---|---|---|---|
| Teaching for | Music | Teaching for | |||||
| pupils | centres | schools | Total 2020 | Total 2019 | |||
| 5 | |||||||
| Staff costs | 32,200 | 4,600 | 39,867 | 76,667 | 53,695 | ||
| Premises | 15,049 | 2,150 | 18,632 | 35,831 | 34,038 | ||
| Communications | and IT | 1,796 | 257 | 2,223 | 4,276 | 3,080 | |
| General office | 8,275 | 1,182 | 10,245 | 19,702 | 19,677 | ||
| Human resources |
2,546 | 364 | 3,152 | 6,062 | 17,855 | ||
| Finance costs | 764 | 109 | 945 | 1,818 | 2,739 | ||
| Governance costs |
2,191 | 313 | 2,713 | 5,217 | 8,219 | ||
| Insurance | 2,401 | 343 | 2,972 | 5,716 | 5,231 | ||
| Travelling | 1,215 | 174 | 1,504 | 2,893 | 4,478 | ||
| Postage and stationery | 871 | 124 | 1,079 | 2,074 | 1,676 | ||
| Advertising | 2,120 | 303 | 2,625 | 5,048 | 16,154 | ||
| Computer and |
software | 5,994 | 856 | 7,421 | 14,271 | 12,105 | |
| Miscellaneous | expenses | 430 | 65 | 534 | 1,029 | 6,224 | |
| Training costs | 908 | 130 | 1,125 | 2,163 | 3,649 | ||
| Subscriptions | 2,769 | 396 | 3,430 | 6,595 | 7,022 | ||
| Repairs and renewals | 113 | 16 | 140 | 269 | 1,050 | ||
| 79,642 | 11,382 | 98,607 | 189,631 | 196,892 | |||
| NET (EXPENDITURE)/INCOME | |||||||
| Net (expenditure)/income | is | stated after | charging/(crediting): | ||||
| 2020 | 2019 | ||||||
| 5 | |||||||
| Depreciation oftangible | fixed assets | 19,702 | 19,676 |
| 2020 | 2019 | ||||||
|---|---|---|---|---|---|---|---|
| 5 | |||||||
| Fees payable | to | the independent | examiner | for: | |||
| Independent | examination | ofthe | financial | statements | 2,950 | 2,340 | |
| Other financial | services | 2,267 | 2,608 | ||||
| 5,217 | 4,948 |
| STAFF COSTS | ||||
|---|---|---|---|---|
| The total staff costs and | employee | benefits for the reporting period are analysed as |
follows: | |
| 2020 | 2019 | |||
| g | ||||
| Wages and salaries | 210,724 | 159,455 | ||
| Social security costs | 17,438 | 11,420 | ||
| Employer contributions |
to pension | plans | 22,391 | 17,460 |
| Bought in tutors | 184,885 | 253,384 | ||
| Ex gratia payments | 35,000 | |||
| 470,438 | 441,719 |
| time equivalent | employees during the year is analysed |
as follows: | |
|---|---|---|---|
| 2020 | 2019 | ||
| No. | No. | ||
| Management | and administration | 4 | 4 |
| Music leaders | 4 | 2 |
| Fixtures | Musical | ||||
|---|---|---|---|---|---|
| & fittings | instruments | Computers | Total | ||
| Cost | |||||
| At 1 August 2019 | 58,970 | 214,763 | 7,120 | 280,853 | |
| Additions | 3,588 | 3,588 | |||
| At31July | 2020 | 58,970 | 218,351 | 7,120 | 284,441 |
| Depreciation | |||||
| At 1 August 2019 | 44,102 | 64,776 | 3,074 | 111,952 | |
| Charge for | the year | 3,737 | 14,484 | 1,481 | 19,702 |
| At 31July | 2020 | 47,839 | 79,260 | 4,555 | 131,654 |
| Carrying | amount | ||||
| At 31July | 2020 | 11,131 | 139,091 | 2,565 | 152,787 |
| At 31July | 2019 | 14,868 | 149,987 | 4,046 | 168,901 |
| DEBTORS | ||||
|---|---|---|---|---|
| 2020 | 2019 | |||
| Trade debtors | 7,957 | 11,221 | ||
| Prepayments and |
accrued | income | 10,195 | 23,236 |
| Directors loan account | 2,426 | |||
| 18,152 | 36,883 | |||
| CREDITORS: amounts | falling due &vithin one year | |||
| 2020 | 2019 | |||
| K | ||||
| Trade creditors | 3,411 | 9,752 | ||
| Accruals and deferred income |
63,719 | 66,430 | ||
| Social security and other |
taxes | 2,281 | 3,996 | |
| Other creditors | 25,122 | 2,379 | ||
| 94,533 | 82,557 | |||
| DEFERRED INCOME | ||||
| 2020 | 2019 | |||
| At 1 August 2019 | 55,669 | 55,669 | ||
| Amount released | to income | (55,669) | (55,669) | |
| Amount deferred |
in year | 57,164 | 55,669 | |
| At 31July 2020 | 57,164 | 55,669 |
| Recognised | in income from donations and legacies: |
|
|---|---|---|
| Coronavirus | Job Retention Scheme Grant | 9,332 |
| Unrestri | cted funds |
|||||
|---|---|---|---|---|---|---|
| A[ | At | |||||
| 1 Aug 2019 | Income | Expenditure | Transfers | 31July 2020 | ||
| 5 | ||||||
| General | funds | 707,322 | 237,987 | (225,099) | (7,536) | 712,674 |
| At | A[ | |||||
| 1 Aug 2018 | Income | Expenditure | Transfers | 31July 2019 | ||
| General | funds | 547,159 | 375,317 | (205,239) | (9,915) | 707,322 |
| Restricted funds | ||||||
| At | At | |||||
| 1 Aug 2019 | Income | Expenditure | Transfers | 31July 2020 | ||
| Fixed asset fund | 130,344 | (15,001) | 115,343 | |||
| Arts Council England | 348,339 | (355,875) | 7,536 | |||
| 130,344 | 348,339 | (370,876) | 7,536 | 115,343 | ||
| At | At | |||||
| 1 Aug 2018 | Income | Expenditure | Transfers | 31July 2019 | ||
| Fixed asset fund | 146,438 | (16,094) | 130,344 | |||
| Arts Council England | 62,589 | 339,133 | (411,637) | 9,915 | ||
| 209,027 | 339,133 | (427,731) | 9,915 | 130,344 |
| 21. | ANALYSIS OFN | ET ASSETSBETWEEN FUN | DS | ||
|---|---|---|---|---|---|
| Unrestricted | Restricted | Total Funds | |||
| Funds | Funds | 2020 | |||
| Tangible fixed assets | 37,444 | 115,343 | 152,787 | ||
| Current assets | 769,763 | 769,763 | |||
| Creditors less than |
1 year | (94,533) | (94,533) | ||
| Net assets | 712,674 | 115,343 | 828,017 | ||
| Unrestricted | Restricted | Total Funds | |||
| Funds | Funds | 2019 | |||
| Tangible fixed assets | 38,557 | 130,344 | 168,901 | ||
| Current assets | 751,322 | 751,322 | |||
| Creditors less than | 1 year | (82,557) | (82,557) | ||
| Net assets | 707,322 | 130,344 | 837,666 | ||
| 22. | ANALYSIS OF CHANGES IN NET DEBT | ||||
| At | At | ||||
| 1 Aug 2019 | Cash flows | 31Jul 2020 | |||
| f. | |||||
| Cash at bank and | in hand | 714,439 | 37,172 | 751,611 | |
| 23. | RELATED PARTIES |