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|---|---|---|---|---|---|---|
|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||||||
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|||||||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|
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|||||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|
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|||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|
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|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|
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|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|
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||||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|
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|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|
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|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|
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|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|
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|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|
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|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|
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|||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||
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|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|
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|||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|
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|||||||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|||||||