| 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 |
| 2023 | 2022 | |||||||
|---|---|---|---|---|---|---|---|---|
| Unrestricted | Restricted | |||||||
| funds | funds | Total funds | Total funds | |||||
| Note | ||||||||
| Income and endowments | ||||||||
| Donations and legacies |
5 | 4,000 | 346,547 | 350,547 | 358,831 | |||
| Charitable activities |
6 | 419,091 | 419,091 | 285,491 | ||||
| Total income | 423,091 | 346,547 | 769,638 | 644,322 | ||||
| Expenditure | ||||||||
| Expenditure on charitable |
activities | 7,8 | 401,772 | 485,473 | SS7,245 | 695,209 | ||
| Total expenditure | 401,772 | 485,473 | 887,245 | 695,209 | ||||
| Net expenditure | 21,319 | (138,926) | (117,607) | (50,887) | ||||
| Transfers between | funds | (118,289) | 118,289 | |||||
| Net movement in |
funds | (96,970) | (20,637) | (117,607) | (50,887) | |||
| Reconciliation offunds |
||||||||
| Total funds brought | forward | 691,271 | 100,009 | 791,280 | 842,167 | |||
| Total funds carried | forward | 594,301 | 79,372 | 673,673 | 791,280 |
| 2023 | 2022 | |||||||
|---|---|---|---|---|---|---|---|---|
| Note | ||||||||
| FIXEDASSETS | ||||||||
| Tangible fixed assets | 14 | 461,971 | 357,249 | |||||
| CURRENT ASSETS | ||||||||
| Debtors | 15 | 34,105 | 19,904 | |||||
| Cash at bank and in hand | 222,041 | 467,653 | ||||||
| 256,146 | 487,557 | |||||||
| CREDITORS: amounts | falling due | |||||||
| within one year | 16 | 44,444 | 53,526 | |||||
| NET CURRENT ASSETS | 211,702 | 434,031 | ||||||
| TOTAL ASSETSLESS | CURRENT | |||||||
| LIABILITIES | 673,673 | 791,280 | ||||||
| NET ASSETS | 673,673 | 791,280 | ||||||
| FUNDS OF THE CHARITY | ||||||||
| Restricted funds | 79,372 | 100,009 | ||||||
| Unrespected funds |
594,301 | 691,271 | ||||||
| Total charity funds | 19 | 673,673 | 791,280 |
| 2023 | 2022 | ||
|---|---|---|---|
| CASH FLOWS FROM OPERATING | ACTIVITIES | ||
| Net expenditure | (117,607) | (50,887) | |
| Adj ssrnienrs jar: | |||
| Depreciation oftangible fixed assets |
91,926 | 58,540 | |
| Government grant income |
(9,037) | ||
| Accrued income | (2,622) | (164) | |
| Changes in: | |||
| Trade and other debtors | (14,201) | 1,293 | |
| Trade and other creditors | (6,460) | (19,496) | |
| Cash generated from operations |
(48,964) | (19,751) | |
| Net cash used in operating activities |
(48,964) | (19,751) | |
| CASH FLOWS FROM INVESTING | ACTIVITIES | ||
| Purchase oftangible assets | (196,648) | (232,633) | |
| Proceeds from sale oftangible assets | 3,579 | ||
| Net cash used in investing activities |
(196,648) | (229,054) | |
| CASH FLOWS FROM FINANCING | A.CTIVITIES | ||
| Government grant income |
9,037 | ||
| Net cash &om financing activities |
9,037 | ||
| NET DECREASE IN CASH AND CASH EQUIVALENTS | (245,612) | (239,768) | |
| CASH AND CASH EQUIVALENTS | AT BEGINNING OFYEAR | 467,653 | 707,421 |
| CASH AND CASH EQUIVALENTS | AT END OFYEAR | 222,041 | 467,653 |
| Depreciation is calculated so over the useful economic life |
as to write offthe cost orvalua ofthat asset as follows: |
|---|---|
| Lease hold building | 10years |
| Fixtures, fittings and | 25%reducing balance |
| equipment | |
| Musical instruments | 15years |
| Computer equipment |
25%straight line |
| DONATION | S AND LEGACIES |
|||
|---|---|---|---|---|
| Unrestricted | Restricted | Total Funds | ||
| Funds | Funds | 2023 | ||
| 5 | ||||
| GRANTS | ||||
| Grants receivable | 4,000 | 346,547 | 350,547 | |
| Government | grant income | |||
| 4,000 | 346,547 | 350,547 |
| Unrestricted | Restricted | Total Funds | |||
|---|---|---|---|---|---|
| Funds | Funds | 2022 | |||
| GRANTS | |||||
| Grants receivable | 349,794 | 349,794 | |||
| Government | grant income | 9,037 | 9,037 | ||
| 9,037 | 349,794 | 358,831 | |||
| CHAtuTABLE ACTIVITIES | |||||
| Unrestricted | Total Funds | Um estricted | Total Funds | ||
| Funds | 2023 | Funds | 2022 | ||
| School teaching income | 177,713 | 177,713 | 103,481 | 103,481 | |
| Pupil Tuition | 216,270 | 216,270 | 158,319 | 158,319 | |
| Other income | 4,766 | 4,766 | 12,358 | 12,358 | |
| Rock School | &Virtual School | 4,033 | 4,033 | 4,540 | 4,540 |
| Room hire | 16,309 | 16,309 | 6,793 | 6,793 | |
| 419,091 | 419,091 | 285,491 | 285,491 |
| EXPENDITURE ON CHARITAB | LE ACTIVITIES BYFUND TY | PE | |
|---|---|---|---|
| Unrestricted | Restricted | Total Funds | |
| Funds | Funds | 2023 | |
| Pupil tuition | 58,344 | 210,232 | 268,576 |
| Music centres | 6,733 | 24,258 | 30,991 |
| School teaching | 47,125 | 169,801 | 216,926 |
| Suppott costs | 289,570 | 81,182 | 370,752 |
| 401,772 | 485,473 | 887,245 | |
| Unrestricted | Restricted | Total Funds | |
| Funds | Funds | 2022 | |
| Pupil tuition | 22,074 | 110,036 | 132,110 |
| Music centres | 5,455 | 22,572 | 28,027 |
| School teaching | 36,139 | 149,536 | 185,675 |
| Supportcosts | 270,356 | 79,041 | 349,397 |
| 334,024 | 361,185 | 695,209 |
| EXPENDIT | URE ON CHAR | ITABLE ACTIVITIE | S BYACTIVI | TY TYPE | |
|---|---|---|---|---|---|
| Activities | |||||
| undertaken | Total funds | Total fund | |||
| directly | Support costs | 2023 | 2022 | ||
| Pupil tuition | 268,576 | 189,045 | 457,621 | 266,267 | |
| Music centres | 30,991 | 21,812 | 52,803 | 55,476 | |
| School teaching | 216,926 | 152,689 | 369,615 | 367,109 | |
| Governance | costs | 7,206 | 7,206 | 6,35? | |
| 516,493 | 370,752 | 887,245 | 695,209 |
| on the activities | . The prop | ortions are 42% t |
eaching for sc | hools, 6%m | usic centre and | 52%pupils. |
|---|---|---|---|---|---|---|
| Music | School | |||||
| Pupil tuition f |
centres | teaching | Total 2023 | Total 2022 8 |
||
| Staff costs | 57,379 | 6,621 | 46,345 | 110,345 | 130,489 | |
| Premises | 46,518 | 5,367 | 37,572 | 89,457 | 42,091 | |
| Communications | and IT | 1,097 | 127 | 886 | 2,110 | 2,587 |
| General office | 47,802 | 5,516 | 38,609 | 91,927 | 58,540 | |
| Human resources | 1,120 | 129 | 904 | 2,153 | 49,055 | |
| Finance costs | 847 | 98 | 684 | 1,629 | 2,496 | |
| Governance costs |
3,747 | 432 | 3,026 | 7&205 | 17,857 | |
| Insurance | 5,591 | 645 | 4,515 | 10,751 | 7,459 | |
| Travelling | 2,583 | 298 | 2,087 | 4,968 | 3,332 | |
| Postage and stationery | 837 | 97 | 676 | 1,610 | 1,412 | |
| Advertising | 2,990 | 345 | 2,415 | 5,750 | 227 | |
| Computer and software |
6,499 | 750 | 5,249 | 12,498 | 7,002 | |
| Miscellaneous | expenses | 770 | 89 | 622 | 1,481 | 7,605 |
| Training costs | (257) | (30) | (207) | (494) | 2,847 | |
| Subscriptions | 6,368 | 735 | 5,143 | 12,246 | 11,839 | |
| Repairs and renewals | 8,900 | 1,027 | 7,189 | 17,116 | 4,560 | |
| 192,791 | 22,246 | 155,715 | 370,752 | 349,398 |
| 10. | NKT EXPEND | NKT EXPEND | IT | URE | |||
|---|---|---|---|---|---|---|---|
| Net expenditure | is | stated | atter charging/(crediting): | ||||
| 2023 | 2022 | ||||||
| f | |||||||
| Depreciation | oftangible | fixed assets | 91,926 | 58,540 | |||
| 11. | INDEPENDENT | EXAMINATION FEES | |||||
| 2023 | 2022 | ||||||
| Fees payable | to | the | independent examiner for: |
||||
| Independent | examination | ofthe financial statements | 3,300 | 3,100 | |||
| Other financial | services | 2,546 | 3,258 | ||||
| 5,846 | 6,358 |
| STAFF COSTS | ||||
|---|---|---|---|---|
| The total staff costs and | employee | benefits for the reporting | period are analysed as |
foBows: |
| 2023 | 2022 | |||
| Wages and salaries | 526,203 | 418,160 | ||
| Social security costs | 40,880 | 36,157 | ||
| Employer contributions |
topension | plans | 53&194 | 30,015 |
| Other employee benefits |
4,236 | 4,776 | ||
| 624,513 | 489,108 |
| full-time equiv |
alent employees during the year is ana |
lysed as follows: |
|
|---|---|---|---|
| 2023 | 2022 | ||
| No. | No. | ||
| Management | and administration | 5 | 6 |
| Music leaders | 18 | 10 | |
| 23 | 16 |
| Short | ||||||
|---|---|---|---|---|---|---|
| leasehold | ||||||
| improvement | Fixtures and | Musical | ||||
| s | fittings | instruments f |
Computers | Total g |
||
| Cost | ||||||
| At 1April 2022 | 78,720 | 131,198 | 263,866 | 83,902 | 557,686 | |
| Additions | 194,942 | 1,706 | 196~648 | |||
| At 31March 2023 | 78,720 | 326,140 | 265,572 | 83,902 | 754,334 | |
| Depreciation | ||||||
| At 1April 2022 | 7,872 | 62,698 | 104,650 | 25,217 | 200,437 | |
| Charge for the year | 7,872 | 46,389 | 17,589 | 20,076 | 91,926 | |
| At 31March 2023 | 15,744 | 109,087 | 122,239 | 45,293 | 292,363 | |
| Carrying amount |
||||||
| At 31March 2023 | 62,976 | 217,053 | 143,333 | 38,609 | 461,971 | |
| At 31March 2022 | 70,848 | 68,500 | 159,216 | 58,685 | 357,249 | |
| Capital commitments | ||||||
| 2023 | 2022 | |||||
| Contracted for but not |
provided | for in the financial statements |
28,577 |
| DEBTORS | |||||
|---|---|---|---|---|---|
| 2023 | 2022 | ||||
| Trade debtors | 4,534 | 5,151 | |||
| Prepayments | and accrued | income | 27,600 | 14,753 | |
| Other debtors | 1,971 | ||||
| 34,105 | 19,904 | ||||
| CREDITOR | S: amounts | falling due within | one year | ||
| 2023 | 2022 | ||||
| Trade creditors | 36,295 | 45,524 | |||
| Acctxtals and | defened income | 4,693 | 7„315 | ||
| Social security and other | taxes | 2 | |||
| Other creditors | 3,454 | 687 | |||
| 44,444 | 53,526 |
| I April 2022 | I April 2022 | Income | Expenditure | Transfers | 31Mar 2023 | 31Mar 2023 | ||
|---|---|---|---|---|---|---|---|---|
| General funds | 691,271 | 423,091 | (401,772) | (118,289) | 594,301 | |||
| I April 2021 | Income | Expenditure | Transfers | 31Mar 2022 | ||||
| General funds | 730,767 | 294,528 | (334,024) | 691,271 | ||||
| Restricted | funds | |||||||
| I | April 2022 | Income | Expenditure | Transfers | 31Mar 2023 | |||
| 5 | ||||||||
| Fixed asset | fund | 92,801 | (13,429) | 79,372 | ||||
| Arts Council England | 7,208 | 346,547 | (472,044) | 118,289 | ||||
| 100,009 | 346,547 | (485,473) | 118,289 | 79,372 | ||||
| I | April 2021 | Income | Expenditure | Transfers | 31 Mar 2022 | |||
| Fixed asset | fund | 105,889 | (13,088) | 92,801 | ||||
| Arts Council England | 5,511 | 349,794 | (348,097) | 7,208 | ||||
| 111,400 | 349,794 | (361,185) | — | 100,009 |
| 2023 | 2022 | ||||||
|---|---|---|---|---|---|---|---|
| 20. | ANALYSIS OF NKT ASSETSBETWEEN FUNDS | ||||||
| Unrestricted | Restricted | Total Funds | |||||
| Funds | Funds | 2023 | |||||
| 6 | |||||||
| Tangible fixed | assets | 382,599 | 79,372 | 461,971 | |||
| Current assets | 256,146 | 256&146 | |||||
| Creditors less | than | 1 year | (44,444) | (44,444) | |||
| Net assets | 594,301 | 79,372 | 673,673 | ||||
| Unrestricted | Restricted | Total Funds | |||||
| Funds | Funds | 2022 | |||||
| Tangible fixed | assets | 264,448 | 92,801 | 357,249 | |||
| Cunent assets | 480,349 | 7,208 | 487,557 | ||||
| Creditors less | than | 1 year | (53,526) | (53,526) | |||
| Net assets | 691,271 | 100&009 | 791,280 | ||||
| 21. | ANALYSIS OF CHANGES IN NET DEBT | ||||||
| At | At | ||||||
| 1 Apr 2022 | Cash flows | 31Mar 2023 | |||||
| Cash at bank and in | hand | 467,653 | (245,612) | 222,041 | |||
| 22. | OPERA.TING LEASE COMMITMKNTS | ||||||
| The total future | minimum | lease payments | under non-cancellable operating leases are as follows: |
||||
| 2023 | 2022 | ||||||
| Not later than | 1 year | 60,012 | 29,250 | ||||
| Later than I year and not | later than 5 years | 174,000 | 234,000 | ||||
| 234,012 | 263,250 | ||||||
| 23. | RELATED PARTIES |