Calderdale Music CALDERDALE MUSIC LIMITED ACCOUNTS 31 AUGUST 2024 Company Registration Number 08597862 Charity Number 1154343 STREETS SPENSER WILSON CHARTERED ACCOUNTANTS
CALDERDALE MUSIC LIMITED COMPANY LIIVllTED BY GUARAwfEE FINANCIAL STATEMENTS PE4 RIOD FROM I APRIL 2023 TO 31 AUGUST 2024 PAGE Trustees, annual report (incorporating the dircctovs report) ljidependent examiner's report to the trustees Statement of financial activilies (including income ]d expenditure account) Statement of fjnancial position 10 Statemeiit of cash flows 11 Notes to the financial statements 12
CALDERDALE MUSIC LITED COMPANY LIMITED BY GUARANfEE TRUSTEES, ANNUAL REPORT UNCOIIPORATING THK DIRECTOR'S REPORT) PERIOD FROM I APIUL 2023 TO 31 AUGUST 2024 The trustees, who are also tlie directors foi the purSeS of company law, preserlt their report and the uiialidited financial statements of the cllarity for the period ended 31 August 2024. REFERENCE AND ADMDIISTRATIVE DETAILS Registered charity name Calderdale Music Limited Charity registi?tion number 1154343 Compally registration llumber 08597862 Prineipal offlce and registered The Old Courthouse office Blackwall Halifax West Yorkshire HXI 2DL The trustees C Wightman S Wild J Brook P ReI01dsOn D J Heywood A J Sapey (Served from 26 Sept¢mber 2023 to 3 January 2024) J claOn K Rezina M Sharp S R Montgomery (Appointed 19 Noveniber 2023) Key Management Personnel D Heywood J Brook Independent examiner EAShort Equitable House 55 Pellon Lane Halifax West Yorkshire HXI 5SP Bank Lloyds Bank Pl Commercial Street Halifax HXI IBB
CALDERDALE MUSIC LI1llTED COMPANY LIMITED BY GUARANTEE TRUSTEES, ANNUAL REPORT {INCOIVORATJNG THK DIRECTOR'S REPORT) (eoiiliniied) PERIOD FROM I APRIL 2023 TO 31 AUGUST 2024 STRUCTURE, GOVERNANCE AND K4NAGEMENT The organisation is a cliaritable coJrApany limited by guarantee, incorporated 011 4 July 2013 and registered as a charity on 25 October 2013. The Company was established under a Meinorandum of Association whiGli established the object5 and powers of the charitable company and is governed under the Articles of Association. In the event of tlie company being ivound up members are required to contribute an amount not exceeding £ l. The Board of Trustees are responsible for the overall strategv of the company. The Board meets tennly and is chaired Peter Reynoldson. The Calderdale Music Ltd Principal is responsible for the day to day management. Calderdale Music Ltd is committed to ensuring that we pay our staff and sejf-einployed tutols fairly and in a way wliich ensures we attract and retain the right skills to have the greatest impact in delivering oiit Cliaritable objectives. The appropriateness of staff remuneration is reviewed annually, including referencc to comparisons with similar organisations ensuring Calderdale Music reEnains sensitive to the broader issues e.g. pay and employment conditions elsewhere. Recruitment and appointment of trustees All the Company Directors are also Trustees of the Charity. The Principal of the Calderdale is also a Company Director and Charity Trustee. The trLlStees may appoint one or more su&comJnittees to carry out any duty which in the opinioii of the truste¢s would be mor¢ conveniently undertaken by a sub- committee, who would then in turn report to the trustees. Trustees are r¢cruited by the Board to alivays ensure that the Board has expertise across all areas of die interest of Calderdale Music Ltd. A skills audit will be completed when necessary to highlight the areas of expertise that Inay need strengthciiing. The r¢commcnded PTOC¢SS¢S from the Arts Council will be followed. The development of the Board is crucial to Calderdale Music Ltd's future sustainability and essential for ensuring it is fit for purpose. The Board is also sourcing expertise. Trustee induction and training On appointment a truste¢ is given an infomiation pack that includes the Memorandum aiid Articles of Association and the latest accounts. Training needs are assessed and met as required. At the fiist trustees eeting after the Annual General Meeting: all truslees are reminded of their responsibilities and new ttee5 provided with a copy of CC3: Responsibilit1¢5 of th¢ Charity Trustees. The trustees discuss and update the companys future plans and objectives document. Risk management The Management Cotnmittee has conducted a review of the major risks to which the charity is exposed, a risk register is maintained identifying financial. regulatory, business and operational risks and where appropriate. systems or procedures have been established to mitigate the risks the charity faces and additional policies put in plac¢ where rcquired. Inteimal risks are minimised by th¢ implementation of procedures for authorisation of all transactions and projects.
CALDERDALE MUSIC LINllTED COMPANY LIMITED BY GUARANTE TRUSTEES, ANNUAL REPORT (INCORPORATING THE DIRECTOR'S REPORT) {eoiilriiue PKRIOD FROM I APRIL 2023 TO 31 AUGUST 2024 The Trustees have considered the risks fa¢ing Calderdale Music Ltd and believe the Inain risk is ensuring tliere is continuing fijnding froin the Arts CouT]cil. Plans are being made to I1Iitigate against any poteiitial reduction in funding from central oovernmenL The Trustees regard tlie health and safety of children as being of paramount importance and ensure staff are vetted by tlie Disclosure and Barring Servic¢. OBJECTIVES AND ACTIVITIES Calderdale Music Ltd aims to promote and support the highest quality music education for all. The company exists for the advancement of public educatton in all aspects of Inusic in the Borough of Calderdale. In prnctice Calderdale Music Ltd provides the delivery of the Local Authority's music service. Calderdale Music Ltd aims to provide a safe and cncouraging environment where young people are nurtured and tlieir achievements celebrated. Calderdale Music Education Hub funding is spent in accordance with Arts Council England guidelines and will support the following priorities from 'The Power of Music to Change Lives. A National Plan for Music Education., The 3 aims are to: support schools and other education settings to deliver high-quality music education, support young people to develop their interests and talent further, including into employment- support all children and young people to engage with a range of musical opportunities iii and out of school. The 5 Strategic Functions are: Partnerships Schools Progression and Musical Development liiclusion Sustsinability ACHIEVEMENTS AND PERFORMANCE Calderdale Music Ltd has continued to deliver efyectively towards the advancement of excelle music education for the children and young people in Calderdale throughout 2023124. Calderdale Music Ltd.'s k¢y objectives to provide excellent music and arts education for everyone in Calderdale, engage with and have an active partnership with 100 /0 of schools, academies and other education providers and institutions, be reco¢mised throughout the region for excellence in all areas of provision and to lead on national initiatives, partnerships and opportunitie5. Calderdale Music Ltd operates from its headquarters The Old Courthouse and comprises high quality accommodation including office areas, I: l and small group teaching areas, ensemble rooms, a Boai'd Room and perfortnance space. The coffee shop continued trading as Rhythm & Brews although this has now be¢n scaled back to a bean to cup coffee machine with seating. Calderdale Miisic Ltd.'s vision statement is 'to open life-long music and arts opportuiiitics to all, prov iding a cultural heart for Calderdale that unites, motivates and inspires people to live more creative lives.
CALDERDALE MUSIC LIMITED COMPANY LIMITED BY GUARANTEE TRUSTEI E4 S, ANIYUAL REPORT (INCORPORATING THE DIRECTOR'S REPORT) (eoiiliirued) PEIUOD FROM J APIUL 2023 TO 31 AUGUST 2024 Our Mission is 'to listeii to and collaborate with our schools. partners, wmmunities and individuals, so together we can offer the best in teaching and specialist miisic ]d arts education, along with access to a wide range of performance opportunities and facilities. By nurturing relationships and being ambitious we will keep raisiiig the bar. helping us to better reflect and respond to the changing needs of the oommunities we serve., Th¢ values at Cald¢rdal¢ Music Ltd are Honesty, Expertise, AchievemenL Reliability and Tog¢thei". Throughout 20?3/24, Calderdale Music Ltd delivered Whole Class Ensemble and School Curriculum Tuition in 50 schools. This equated to 116 separate classes of Whole Class Ensemble Tuition per weck, This coinpares to delivering Wliole Class Enseinble and School Curriculum Tuition to 40 schools in 2022123 and 132 separate classes. W¢ liave increased the number of schools that we are eiigaging with but due to financial constraints in schools, there is an overall reduction in tl)e number ofclasses that are being delivered per week. The number of pupils receiving I: l and small groiip tuition coiitiniied to improve tliroughout 2023124 with 624 ¥eceiving I: l and small groiip tuition. This is an increase from 602 in 2022123. Music Education Hubs throughout England continue to struggle with recruiting high-quality candidates and Caldei'dale Music Ltd continues to experience a hioher demand than our current staffing capacity will allow. Whilst a number of very high-quality candidates hai'e been appoiiited throughout tlie year, it will remain a piioi'ity to continiiously recruit and appoint Music Leaders to deliver Whole Class Ensemble and Curriculum Tuition, I: Ilsmall groups and ensembles. CPD and traiiiing events took place for Music Leaders botli in scliools and at Calderdale Music Ltd. Through our ongoing School Dvlusic Development Plans, school and Imusic Leader needs were identified and addressed through a number of CPD and training events. Ther¢ were also two CPD sessions delivered as part of School Centred Initial Teacher Training Programmes. TIOughoUt 2023124, a number of high profile perforniance events took place. These iiicliided tennly perfonnances for I: l and small groiip pupils, West Yorkshire wide wind and brass band rehearsals and perfonnances and music video productions. OUT 2nd Voices Together perfonnance took place at the Victoria Theatre and featUTed over 1200 pupils over 3 nights. Calderdale Music also piloted woik experience opportunities at The Piece Hall on as part of their festival series perforniances from June to August 2024. 2023-2024 also saw the announ¢¢ment of the Arts Council Music Hub Investment Programme. GILidaiTrce for Applicants was published in June 2023 with a deadline for applications in October 2023. Tlie 5 Local Authority areas within West Yorkshire applied as part of a newly formed consortium groiip to be¢om¢ the West Yorkshire Music Hub. To meet the Arts Council's requirements, Brddford Miisic and Arts Service was selected to be the Hub Lead Organisation with each LA Area given strategic oversight foi. one of the Arts Coiincil's Strategic Functions for Music Hubs. From September 2024, the West Yorkshire Music Hub was launc11e and Calderdale Music are the strategic lead for Inclusion.
CALDERDALE MUSIC LIMITED COMPANY LIMrfED BY GUARANTEE TRUSTKES, ANNUAL REPORT (INCORPORATING THE DJRKCTOR'S RLI PORT) Icoiifimiied) PERIOD FROM I APRIL 2023 TO 31 AUGUST 2024 FINANCIAL REVIEW During the period unrestricted expendÈture exceeded income by £287,522 (2023 £21,319 income exceeded expenditure). however, £53,400 has been transfetred to rests'icted funds which was iii deficit by £74,065. The total funds of the Cliarity have dccrcased from £673.673 to £365.486. Free reseives at 31 August 2024, after accounting for restricted funds and reserve5 represcnted by fixed assets wei'e £8,230 (2023 £211,702). The restri¢t¢d fixed asset fuiid represents musical iiistruinents, fixture and fittings and computcr equipment transfeTred to Calderdale Music Limited from Calderdale MBA in 2015, Icss depreciation charges. Reserves at the end of the year were £437,540 which are to be used to finance additional projects, trading in the ensuing year and a5 backup reserve. Principal funding sourcey Ttie main sources of funding are from Service IEvel Agreemeiits with the Arts Council and pupil tuition. Arts Council currently represents 40 % of total incorne. Pupils tuition accounts for 54% of the tot inconie and a further 6Q/o of total income is obtained from other income sources. Investment policy Aside from retaining a prudent amount in reserves each year most of the Cliaritys funds are to be spent in the short tem so there are few funds available for lonq tern] investinent. Having considered the optioiis available, the Calderdale mi1¢ Ltd Directors has decided to invest amount available in a short terni interest bearing account. Reserves policy The Directors have examined the charity's requirements for reserves in light of the Tnain risks to the organisation and have established a policy whereby the unrestricted funds not committed or invested in tangible fixed assets held by the charity should be in the region of between stx and nine moiiths expenditure, in view of current economic difficulties, which amounts to approximately £440,000. Unrestricted funds are £306,779 including fixed assets of £298,549 leaving free reserves of £8,230. Restricted fijnds amount to £58,707. which is in relation to restricted red assets. Reserves are lower than the current policy and the trustees are looking to increase reserves to the required level in the ensuin(s The Trustees are also conscious that they need to look to the long-temi future of Caldcrdale Music Ltd in tern]s of the provision of service and to cnable thein to respond to changes within the DtE.
CALDERDALE MUSIC LIMITED COMPANY LIMED BY GuAR}TEE TRUSTEES, AIYNUAL REPORT (INCORPORATING THE DIRECTOR'S REPORT) (e&ii14niied) PERIOD FROM I APRIL 2023 TO 31 AUCUST 2024 PLANS FOR FUTURE PERIODS Th¢i"e are a nuinber of plans in place in the coming year. To ensure tlie continued viability and success of Caldeidale Music, it is vital that the legal fraTnework and transition to becoilliiig a fonnal consortiiim mEmber of tlie West Yorkshire Music Hub takes place quickly and efficiently. This will eiisuiE that the grant funding can be disseminated to eacli consortium partner proinptly in line with tlie Arts Council Funding Agreeinents and Quarterly Submissions. Calderdale Music's 5 strategic objectives will be revisited to ensure clear priorities are set for tlie coming years. There will be a focus on staff recruilment, retention and staff development to ensiire Caldei'dale Music's woi'kforce are highly skilled. experienced and motxvated to deliver outstandirlg provision in all areas of our work. We will Continue to development our engagement with schools and ensure that there are appropriate opportunities for progression available to all students including I , l and small group provision. We will also introduce our new Music Technology Strategy into OUT provision which also includes new partnerships with The Piece Hall and Roland. TRUSTEES, RESPONSIBILITIES The trustees, who are also directors for the purposes of company law, are responsible for preparing the trustees, report and the funCIal statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). Company law requires the charity trustees to prepare financial statements for each year which give a triie and fair view of the state of affairs of the charitable company and the incoming resources and application of resources, including the income and expenditure, for that period. In preparing these financial statements, the trustees are required to: select suitable accounting policies and then apply them consistently. observe the methods and principles in the applicable Charities SORP: make judgments and accounting estimates that are reasonable and prudent; state whether applicable UK Accountino Standards have been followed, Subject to any material departL)Tes disclosed and explain¢d in the fanCIal statements. prepare the financial statements on the going concern basis unles5 It Is inappropriate to presuine that the charity will continue in business. The trustees are responsible for keeping adequat¢ accounting records that are su1Clent to show and explain the charity's transactions and disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with tlie Companies Act 2006. Tliey are also responsible for safeguarding the assets ofthe charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
CALDERDALE MUSIC LIMITED COIVLPANY LIMITED BY GUIXRAI¥4TEE TRUSTEESI ANNUAL REPORT (INCORPORATING THE DIRECTOR',$ REPOIIT) .(coMliiJiitdJ PEIRIOD FROM I APRIL 2023 TO 31 AUGUST 2024 Tlie tru8tees' annual Itport )d tlie strat¢8jo report were approv¢d on 29 Jaiiuary 2025 and signed on behalt" of tlie board of trustees by: D JHEYWOOD Tnistec
CALDERDALK MUSIC LIMITED COMPANY LIMITED BY GUARANTEE li INDEPENDENT EXAlI[NER's REPORT TO TRUSTEES ofi CALDERDALE MUSIC LIMITED f¢onliiiiiedJ PERIOD FROM I APRIL 2023 TO 31 AUGUST 2024 I reportto the trustees on my examination of tlie fintuicial statements ofcaldcrdalc Music Limit¢d ('tlie charity) for the period ended 31 Au.tW5t 2024. RESPQNSIBILtTIES AND BASIS OFREPORT As the trust¢es of the cornpany (and a150 vts directors for the purpos&s of con]pany law) you are responsible for the preparation of the fjnancial statements in accoi"dance with the requirements. of the Companies Act 2006 ('£h¢ 2006 Act.). Having sRt15fied myself that the accounts of the company are not require'd io be audited under Part 16 of the 200.6 Act and are eligible for independent examination, I report in r¢spect of my exainination of the charity's accouTrts as Carried out under section l45 of tlie Charities Act 2011 ftbe 201 l Act,). In carrying out my eXainatiOn I have foll.o¥ved the Direction5 given by tlie Charity Commissioli under 5CCtioh L45(5){b) of the 201 l Act. INDEPENDEI NT EXAMINER'S sfATEMLNT Since the charity's g¢055 income txceeded £250.000 your arnIner MDSI be a member of a body listed in section l45 of the 201 l Act. I confjrni that l am qualificd to undcrtake the cxaniination because I am Inember ofthe knstitute of Charted Accountants in England and Wales (ICAEW), whicli is one of ttie Eisted bodies. I have ¢Dinpleted my exwnination. I confiThri that no matters.have come to my attention in connection Willi th¢ examination 8iving me cause to beli¢ve; accounting tecord5 were not kept in respwt of the chanfy as required by section 386 OF tli¢ 2006 Actr, or the fmancial statenients do not accord with thoserccords" or the financial statements do not comply with the accoutiting requirements of sectioii 396 of tlie 2006 Act other tl)an any requirement that the accounts giv¢ a 'true and fail vidw i¥hi¢h (s llot a matter COnsid¢red as part of an independent &vminatioii- or the financial statements have not been prepared in accordance with the mcthods ai)d principles of the Stateineiit of Recommended Practi¢e for aGcouiiting and reporting by .chariti¢s applicabl¢ to cliaiiti¢s preparing dieir accounts in ac£ordance with thc financial Reporting Standard applicable in-the UK and Republic of Ireland (FRS 102). I have llo'conGerns" and have come across no other matters ill Go)mec.tion with the examination to whicli attcntioii sliould be drawn ITJ ihis.report in order to enable a PToper understanding of th¢ accounts to bc rcached. E A SHORT Independent Examiner Equitable House 55 Pcllon IAn¢ Flalifax West Yorkshire HXI 5SP 29 Sanuary 2025
CALDERDALE MUSIC LIMITED COMPANY LIMITED BY GUARAIYTEE STATEMENT OF FINANCIAL ACTIVITIES (INCLUDIJNG INCOME AND EXPEINDITURE ACCOUNT) PERIOD FROM I APRIL 2023 TO 31 AUGUST 2024 Year to 31 Mar23 Period from l Apr 23 to 31 Aug 24 Unrestrlcted Restricted funds funds Total funds Total fuIids Note Income and endowments Doiiations and legacies Charitable activities Otliei. income 488.492 488,492 632,125 936 350,547 419,091 632,125 (713) 1.649 Total illcome 631,412 490,141 1,121553 769,638 s xpenditure Expenditure on charitable activities Total expenditure 865,5J4 564,206 1,429,740 887,245 865,534 564.206 1,429,740 887,245 Net expenditure (234,122) (74,065) (308,187) (117,607) Transfers between funds {53,400) 53,400 Net movement in funds (287,522) (20,665) (308,187) (117,607) Reconciliation of funds Total funds brought forward Total funds earned forward 594,30I 79,372 673,673 791,280 306.779 58,707 36S,486 673,673 The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities. The notes on pages 12 to 2S forjn part of tbe5e financial statements.
CALDERDALE IVIUSIC LIMtTED COMPANY LIMITED BY GUARAiYrEE STATEMENT OF FINANCIAL POSITION i(wthutdJ 31 AUGUST 2024 31 Aug 24 31.Mar23 Noto FIXEI D ASSETS Tangible fixed assels 15 357,256. 461.971 CURRENT ASSETS Debtors Cash at bank and in hand 16 91,704 154,037 292,041 245,741 CREDITORS: amounts f211ing due Within one year NET CUIIRENT ASSETS 17 237,511 44,444 8230 211,702 TOTALASSETS LESS CURRENT LLIBILrrIES 365,486 673,673 673,673 NET ASSETS 365,486 FUNDS OF THE CHARITY Resli'icl¢d funds. U¢stricted funds 58,707 306,779 79,372 594,301 673,673 Total eharity funds 20 365,486 For thc pctiod ending 31 August 2024 the charity ivas ents.tled to exemptton from audit under section 477 of the Companies Act 2006 ielaiing to &nall coinpanies. Directot's, responsibilities: Tli¢ Inemb¢rs have noL irquired tlie company lo obtain an audit of its FU]ela1 statcin¢nts for the period in question in aCCoance with sèction 476. Tlio ditE¢tors acknowledge their responsibilities for complying with the requircincllts of tli¢ Act with respectto accounling records aiid tlie preparation of fjnancial statements. Tliese financial s(at¢rn¢nts liave been prepared in accordance witb th¢ .provisions applicable to companies subject to the small coinpanie5' regiine. These f(nancial stat¢ments wer¢ approved by tlie board oftnJst¢es and auth0ri5¢d for issuc on29 January 2025: wid are signed on behalf of the boacd by. D J HEYWOOD Trustee The notes on pages 12 to 25 form part of these financial statements. 10
CALDERDALE MUSIC LIMITED COMPANY LIMITED BY GUARANTKE STATEMENT OF CASH FLOWS PERIOD FROM I APRIL 2023 TO 31 AUGUST 2024 31 Aug 24 31 Mar23 CASH FLOWS FROM OPERATING ACTIVITIES Nct expenditure {308,187) (117,607) Adjuslmenlsfor.. Depreciation of tangible fixed assets Accrued expenses/(income) 154,826 491 91,926 (2,622) Changes iii." Trade and other debtors Trade and other creditors {57A99) 192,576 (14,201) (6,460) (48.964) (48,964) Cash generated from operations Net cash used in operating activities (17,893) (17,893) CASH FLOWS FROM ]NVESTING ACTAvrrIES Purchase of tangible assets Proceeds from sale of tangible assets Net cash used in investing activities (59,770) (196,648) 9,659 (50,111) (196,648) NET DECREASE IN CASH AND CASH EQUIVALENTS CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD CASH AIYD CASH EQUIVALENTS AT END OF PERIOD (68,004) (245,612) 222,041 467,653 li4,037 222,041 The notes OD pages 12 to 25 form part of these financial statements. 11
CALDERDALE MUSIC LIMITED COIVIPANY LIMED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS PERIOD FROM I IIPRIL 2023 TO 31 AUGUST 2024 GENERAL INFORMATION Tlie charity is a public benefit entity and a private company limited by guarantee, i'egistered in England and Wales and a registered charity ID England and Wales. The address of t]]¢ registered office is The Old Courthouse, Blackwall. Halifax, West Yorkshire, HXI 2DL. STATEMENT OF COMPLIANCE These financial statements have been prepared in compliance witli FRS 102. 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland,. the Statenient of Recoinmended Practice applicable to charities preparing their accounts in accordance witli the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (cli.1t1¢S SORP (FRS 102)) and the Companies Act 2006. ACCOUNTING POLICIES Basis of preparation The financial statements have been prepared on the historical cost basis. as modified by tlie revaluation of certain financial assets and liabilities measured at fair value through income or expenditure. Going concern From the review of forecasts and projections, the Trustees have a reasonable expectation that the Charity has adequatc resoiirces to confine in operational existence for the forese¢able future. The Trustees has therefore continued to adopt the going concern basis in preparing the financial statements, Judgements and key sources of estimation uncertainty The preparation of tlie financial statements requires management to make judgements, estimates and assumptioiis that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstsnces. Th¢re are not considered to be any judgments or accounting estimates or assumptions that have a significant impact on the financial statements. Fund accounting General funds are unrestricted Funds which are available for use at the discretion of the Directors in fiirtherance of the generdl objective5 of the company and which have not been designated lor other purposes. Restricted funds are funds which are to be used in accordance wtÈh specific restrictions itnposed by donors or which have been raised by the charity for a particular purpose. 12
CALDERDALE MUSIC LIMITED COMPANY LI1llTED BY GUARèlNTEK NOTES TO THE FINANCIAL STATEMENTS (coniiiillerf) PLRIOD FROM I IlPRIL 2023 TO 31 AUGUST 2024 ACCOUNTING POLICIES (eohilntsett) Incoming resources All incoming resources are incliided in tl)e statement of financial activities when entitlement has passed to the charity. it is probable that the econoinic benefits associated with the transaction ivtll flow to the charity and tlie amount can be reliably measured. Tlie following specific polici¢s are applied to particular categories of income: income from donations or grants is recognised when there is evidence of entitlement to the gift, receipt is probable and its amount can be measured reliably. l¢gacy income is recognised when receipt is probable and entitlement is established. income from donated goods is measured at the fair value of the goods unless tliis is impractical to measure reliably, in iyhich case the value is derived from the cost to the donoi. or the estitnated resale value. Donated facilities and scrvic¢s are recognised in the accounts when received if the value can be reliably measured. No amounts are included foi" the contribution of general volunteers. income froin contracts for the supply of services is recognis¢d Nvith the delivery of the contracted service. This is classified as unrestricled funds unless there is a contractual requirement for it to be spent oil a particular purpose and returned if unspenL in which case it may be regarded as restricted. Resources expended Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be full), recovered, and is classified under headings of the statement of financial activities to wl)ich it relates: expenditure on raising funds includes the costs of all fundraising activities, events, lion- charitsble trading activities, and the sale of donated goods. expenditure on charitable activiti¢5 includes all costs incurred by a charity in undertaking activiti¢s that further its charitable aims for the benefit of its beneficiaries, iiicluding those support costs and costs relating to the governance of the charity apportioned to charitable activities. other expenditure includes all expenditure that is neither related to raising fund5 for the charity nor part of its expendiwre on charitable activities. All costs are allocated to expenditure categories reflecting tlie use of the resource. Diirct costs attribiitable to a single activity are allocated directly to that actiN'ity. Shared costs ar¢ apportioned between the activities they contribute to on a reasonable. justifiable and consistent basis. 13
CALDERDALE MUSIC LIMITED COIIqPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS (c•niiillied) PERIOD FROM I APRIL 2023 TO 31 AUGUST 2024 ACCOUNTING POLICIES (eoiiiiAiued) Operating leas&8 Lease payments are recognised as an expens¢ ov¢i' the lease terni on a straight-line basis. Tlie aggregate benefit of lease incentives is recognised as a irduction to expeiise over tbe lease term, on a straight-lin¢ basis. Depreciation Deprcciation is calculated so as to write off tlie cost or valuation of an asse¢ less its residual valiie, over the useful economic life of that asset as follows: Leas¢ liold building Fixtures, fittAngs and eqiiipment Musical instru]nents Computer equipment l O years 25/0 reducing balance 15 ycars 25 % straight line Impairment of red assets A Teview for indicatots of impairn]ent is carried out at ¢ach r¢portiiig date, with the recoverable amoiint being estimated where such indicators exist. Where the ¢arying value exceeds the recoverable amoiin¢ the asset is impaired accordingly. Prior impaimients are also reviewed for possible reversal at each reporting date. Taxation As a registered charity, the cotnpany benefits from rates relief and is general ly exempt from income tax and capital gains ta but not from VAT. Irrecoverable VAT is included in tlie Cost of those items to which it relaies. Financial instruments The company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method. 14
CALDERDALE MUSIC LIMITED COMPANY LIMITED BY GUARAwfEE NOTFS TO THE FINIINCIAL STATEMENTS (c(•iulnMerfJ PEIUOD FROM I APRIL 2023 TO 31 AUGUST 2024 ACCOUNTING POLICIES f¢onfiJined) Defined contribution plaDS Retirement benefits to directors of the Calderdale Music Ltd are Provided by the Teachers, Pellsion Scheme (TPS). The TPS Is an unfLmded scl)em¢ and contributions are calculated so as to spread the cost of pensions over employees, working lives with the Charity in sucli a way that the pension cost 15 a substantially level percentagc of current and future pensionable payroll. The contribiitions are detemiined by tlie Government Actuary on the basis of quadrennial valuations using a prospective benefit method. Tlie TPS is a multi-employer sclieme and the Cliarity is unable to identify its sliare of the underlying assets and liabilities of the scheme on a consistent and reasonable basis. The TPS is therefore treated as a defined contribution scheme and the contributions recognised as they are paid each year. LIMITED BY GUARANTEE The company does not have a share capital being a company limited by guarantee. Individual trustee's liability is limited to a maximum of £1. DONATIONS AND LEGACIES Urwestricted Funds Restricted Total Funds Funds 2024 GRANTS Grants receivable 488,492 488,492 Unrestricted Funds Restricted Total Funds Funds 2023 GRèlNTS Grants receivable 4,000 346,547 350,547 15
CALDERDALE IVtUSlC LIIWllTED COIIqPANY LIMITED BY GUARANTEIE NOTES TO THE FINANCIAL STATEMENTS (coitiiniied) PERIOD FROM I APRJL 2023 TO 31 AUGUST 2024 CHARITABLE ACTIVITIES Unrestrictcd Total IPuDds Uni"estricted Total Fiiiids Funds 2024 Funds 2023 School teaching incoine Pupil Tuition Event in¢oine Othcr income Rock School & Virtual School Room hire 220,717 337,072 20.953 4.183 3.302 45.898 220,717 337,072 20.953 4.183 3J02 45.898 177.713 216,270 1.417 3,349 4,033 16,309 177,713 216,270 1.417 3,349 4,033 16,309 632.E25 632,125 419,091 419,091 OTHER llqCOME Unrestricted Funds Restricted Totsl Funds Funds 2024 Gain on disposal of tangible fixed assets held for charity's owii iise (713) 1,649 936 Unrestricted Funds Restricted Total Funds Funds 2023 Gain on disposal of tangible fLxed assets held for charity's own use 16
CALDERDALE MUSIC LIMITED COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS (co ftlijuie PERtOD FROM I APRIL 2023 TO 31 AUGUST 2024 EXPENDITURE ON CHARtrABLE ACTIvfrIES BY FUND TYPE Unrestricted Fuiids Restricted Total Funds Funds 2024 Piipil tuition Music centres School teacliing Support costs 236.370 52,128 262,733 314.303 146,849 32,387 163.229 221,741 383,219 84,515 425,962 536,044 865,534 564,206 1,429.740 Unrestricted Funds Restricted Tots] Funds Fiinds 2023 Pupil tuilion Music centres Scliool teaching Support costs 58,344 6,733 47,125 289,570 210,232 24,258 169.801 81.182 268,576 30,991 216,926 370,752 887,245 401,772 485,473 EXPENDITURE ON CIIARrrABLE ACTIVITIES BY AcfivITY TYPE Activities undertaken directly Support costs Total funds 2024 Total fund 2023 Pupil tuition Music centres School teaching Governance costs 383,219 84,515 425,962 217,685 51.076 257.440 9.844 600,904 135,591 683,402 9,844 1,429,740 457,621 52,803 369,615 7,206 887.245 893,696 536.044 10. ANALYSIS OF SUPPORT COSTS Siipport costs attributable to more than one activity are allocated in proportion to staff time spent on the activities. The proportions aTe 480/0 teaching for schools (2023 420/0), 9D/o music centrc (2023 - 60/0) and 43Q/o pupils (2023 - 520/0). 17
CALDERDALE MUSIC LIMITED COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEIVIENTS c PERIOD FROM I APRIL 2023 TO 31 AUGUST 2024 10. ANALYSIS OF SUPPORT COSTS (c*Niliniie41 Music centies Scliool teacl]ing Total 2024 Total 2023 Pupil tuition Staff costs Premises Cominiiiiications and IT Depreciation Human resources Finance costs Goveii)ance costs Insurance Travelling Bad debts Postage and stationery Adveitising Computer and software Miscellaneous expenses Training costs Subscriptions R¢pairs and renewals 55.575 68,115 989 66.390 3,881 772 4,221 8,559 2.347 12.261 15,021 218 14.642 856 170 931 1.887 517 23 245 54 734 242 271 2,213 335 61,771 75,717 1.098 73,794 4.311 857 4.692 9,514 2,609 129,607 158.853 2J05 154,826 9,048 1,799 9,844 19,960 5,473 243 2,589 568 7,765 3a)5 2,870 23J97 3,542 536,044 110,345 89,457 2,110 91,927 2,153 1,629 7,205 10,751 4,968 1,233 271 3,701 2.017 1,368 11,151 1.688 1,610 5,750 12,498 1,481 (494) 12,246 17,115 370,751 243 3,330 1.096 1,231 10,033 1,519 229,516 50,620 255,908 11. NET EXPENDITURE Net expenditure is stated after chargingJ(crcditing): 31Aug24 31 Mar23 Depreciation of tangible fi.xed assets Gains on disposal of tangible fixed assets Operating lease rentals Is426 (936) 3,895 91,926 12. INDEPENDENT EXAMINATION FEES Period from IApr23to Year to 31Aug24 31 Mar23 Fees payable to the independent examiner for. Independent examination of the financial statements Other financial services 4235 3,810 3,300 2,546 8,045 5,846 18
CALDERDALE MUSIC LIMITED COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMLNfs f coiifiniie PERIOD FROM I APRIL 2023 TO 31 AUGUST 2024 13. STAFF COSTS Tlie total staff costs and employee benefits for the reporting period are allalysed as follows: Period from IApr23to Year to 31Aug24 31Mar23 Wages and salaries Social security costs Employei. contributions to pension plans Bought io tutors 878,397 62,261 69,569 500 526,203 40,880 53,194 4.236 1,010,727 624,513 The averdge head count of employees during the period was 29 (2023: 26)- The average numbei. of fvll-time equivalent employees during the period is analysed as follows: 31Aug24 31 Mar23 Management and administration mi1C leaders 13 18 19 23 The number of employees whos¢ remuneration for the year fell within the following bands, were: Period from IApr23to Year to 31 Aug 24 31 Mai. 23 £60,OOOto £69,999 £90,000 to £99,999 £I10,OOOto £119,999 Key Management Personnel The key tnanagetnent personnel of the Charity comprise the trustees and the senior management team as listed on page l. The total amount of employee bencfits (including employer pension contribiitions) received by key management personnel for their services to the Charity during the 17-month period was £204284 (2023 - year £112,585). 19
CALDERDALE MUSIC LIMITED COMPANY LIMITED BY GUARANTII NOTES TO THE FINANCIAL STATEMENTS (conl iniiedj PERIOD FROM I APRIL 2023 TO 31 AUGUST 2024 14. TRUSTEE REMUNERATJON AND EXPENSES Under tlie provisions of tlie Governing documen( Mr D Heywood (trustee) is empjoyed by the charity to teacli miisic to YO]g persons in accordance with the objectives of th¢ Charity and has been paid a salary of and £88,512 (2023 - £55,294) for a 17 month period respectively, in respect of thosc services. Mrs Brook is employed as a Business and Enterprise Manager and wa5 paid £75,983 for a 17- month period (2023 - £43,379). Pension contribiitioiis for the 17-month period were also paid of £22,263, (2023 - £13,094) for Mi Heywood and £17.526 (2023 - £817) for Mrs Brook. These trustees 01)ly receive Temiineration in respect of services they provide iindertaking the roles of teaching aiid business management, not in respect of tlieir services as a trustee. Other trustees did not receive any payments from Calderdale Music Ltd in respect of their role as trustees. No expenses were paid to the trustees during the p¢riod. (Year ended 31 March 2023: £Nil). 15. TANGIBLE FIXED ASSETS Short leasehold improveinent Fixtures and Musical fittings instruments Computers Total Cost At l April 2023 Additions Disposals At 31 August 2024 Depreciation At l April 20?3 Charge for the period Disp05als At 31 Au¢7USt 2024 78.720 326,140 46,511 (3.481) 369,170 265,572 11,502 (12,077) 264,997 83,902 1,757 754J34 59,770 (15,558) 798,546 78,720 8),659 15.744 11,153 109,087 85.489 (870) 193,706 122,239 30,428 (5,029) 147,638 45,293 27,756 292J63 154,826 (5,899) 441,290 26,897 73,049 Carrjing amount At 31 August 2024 At 31 March 2023 51.823 175,464 117,359 12,610 38.609 357,256 461,971 62,976 217,053 143,333 20
CALDERDALE MUSIC LIMITED COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS( PERIOD FROM I APRIL 2023 TO 31 AUGUST 2024 15. TANGIBLE FIXED ASSETS fcoitslnuedj Capital commitments 31 Aug 24 31 Mar23 Contracted for but not provided for in the financial statements 28.577 16. DEBTORS 31Aug24 31 Mar23 Trade debtors Prepayments and accrued income Other debtors 67,749 23,955 4,534 27,600 1,971 91,704 34,105 17. CREDITORS: amounts falling due within one year 31Aug24 31 Mar23 Trade creditors Accruals and deferred income Social security and other taxes Other creditors 33,581 201,909 36,295 4,693 21 3,454 237511 18. DEFERRED INCOME 31 Aug 24 31 Mar23 Amount deferred in period 196,725 Deferred incorne includes £29,402 pupiR tuition fees for 2025126 (2024 - £29,402 for a 17 month period) scliool tuition £166,513 for ?025126 {2024- £166.513 for a 17 Inonth period), £2,352 (2024 £81 O for a 17 month period) for room hire received in advance and £8 l O (2024 - £nil for a 17 month period) of Tental incotne received in advance. 21
CALDERDALE MUSIC LIMITED COIITrANY LIMITED BY GUARANfE NOTES TO THE FINANCIAL STATE1[ENTs (confiiiued) PERIOD FROM I IIPRIL 2023 TO 31 AUGUST 2024 19. PENSIONS AfqD OTHER POST RETIREMENT BENEFITS Tlie Calderdale Muslc Ltd Principal belongs to the Teachers, Pension Scheme, England and Wales (TPS) wliicli is a multi-einployer defined-benefit scheme. The pension costs are assessed in accordance with the advice of indendent qualified actuaries. The outstanding contributions of £31(2021: £17). Teachers, Pension Scheme The Teachers, Pension Scheme (TPS or scheme) is a statutory, unfunded, defined benefit occupational sch¢me. governed by the Teachers, Pensions Regulations 2010 (as amended), and the Teachers, Pension Scheme Regulations 2014 (as amended). These regulations appl), to teachers in scliools and oth¢r educational estsblishments, including academies, in En(Fland and Wales that are maintained by local authorities. In addition, teachers in many independent and voluntary- aided scliools and teachers and lecturers in some establishments of further and higher edii¢ation may be eligible for membership. Membership is automatic for full-time teachers and lecturers and, from l January 2007, automatic too for teachers and lecturers in part-time employment following appointment or a change of contract. Teachers and lecturers are able to opt out of the TPS. The teachers, pension budgeting and valuation aeeount Although members may be employed by various bodie% tlieir retirement and other pension benefits are set out in regulations made under the Superannuation Act (1972) and Public Service Pensions Act (2013) and are paid by public funds provided by Parliament. The TPS is an unfunded scheme and members contribute on a 'pay as you go 'basis - contributions from members, along withthose Inade by employers, arc credited to the Exchequer under arrangements govemed by the above Acts. The T¢acliers' Pensions Regulations 2010 require an annual accounL the Teachers, Pension Budgeting and Valuation AccounL to be kept of receipts and expenditure (including the cost of pension increases). From l April 2001: the Account has been credited with a real rate of return, which is equivalent to assuming thatthe balance in the Account is invested in notional investments that produce that real rate of return. Valuation of the teacben, pension scheme As a result of the latest scheme valuation employer contributions were increased in September 2019 from a rate of 16.40/ts to 23.6%. Employers also pay a cliarge equivalent to 0.08/0 of pensionable salary Costs to cover administration expenses. The next valuation is expected to take effect in 2023. A copy of the latest valuation report &gn be found by following this link to the Teachers, Pension Scheme website the Teachers, Pension Scheme website The pension c05t paid to TPS in the 17-month period amounted to £39,363 (2023 - £13,095). 22
CALDERDALE MUSIC LIMITED COMPANY LIMITED BY GUARAiYrEE NOTES TO THE FINANCIAL STATEMENTS (eoiiilAued) PERIOD FROM I APRIL 2023 TO 31 AUGUST 2024 Scheme cliaiiges In December 2018. the Court of Appeal held that transitional protection provisions contained in the reformed judicial aiid firefighter pension schemes introduced as part of public service pension reforms in 2015, gave rise to direct age discrimination and were ttlerefore unlawful. Tlie Supreme Court, in a decision made in June 2019, rejected the GO"ernment'S application foi. pennission to appeal the Court of Appeal's ruling and subsequently refeed tlie case to an Employment Tribunal to determine a remedy which will need to be offered to tliose inembers of tlie two scliemes who were siibject of the age discrimination. Since then, claims have also been lod(Fed against the main public servite schemes including the TPS. Th¢ Departsnent has conceded those ID line i¥ith the Test of the goveimment. In July 2020 HM Treasury laiinched a 12-week public consuhation which will provide evidence to support the delivery of an appropriate remedy for the affected schemes, including TPS. A final remedy will be deterniined once the results of th¢ ci)nsultation are establislied. In December 2019. a fiirtlier legal challenge was made against the TPS Telatiiig to an identified equalities issue whereby male survivors ofoppositersex marriages and civil partnerships are treated less favoiirably than survivors in same-sex marriages and civil partnerships. The Secretaty of State for Education agreed not to defend the case. In June 2020, the Employment Tribunal recorded its findings in respect of the claimant. DtE is curreiitly working to establish what clianges are necessary to address this discrimination. Any impact of these events will be taken into account when the next sclieme valiiation L5 implemented. This is scheduled to be implemented in April 2023, based on April 2020 data. 20. ANALYSIS OF CHARrrABLE FUNDS Unrestricted funds l Aprij 2023 Income Expenditure Transfers 31 Aug 2024 General fiinds 594,30 I 631.412 (865,534) (53,400) 306,779 l April 2022 Income Expenditure Transfers 31 Mar 2023 General fimds 691,271 423,091 (401,772) (118,289) 594,301 23
CALDERDALE MUSIC LIMITED COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS (c•ii(i iuied) PERIOD FROM I APRIL 2023 TO 31 AUGUST 2024 20. ANALYSIS OF CHARITABLE FUM)S (coitsliime Restricted funds l April 2023 Income Expendilure Transfers 31 Aug 2024 Fixed asset fund Arts Council England 79,372 1,649 488.492 (17,821) (546,385) (564.206) (4,493) 57,893 58,707 79.372 490.141 53,400 58,707 April 2022 Income Expenditure Transfers 31 Mar 2023 Fixed asset fund Arts Couiicil England 92,801 7,208 100,009 (13.429) (472,044) (485,473) 79,372 346,547 118,289 346.547 118,289 79,372 The Restricted fixed asset fund represents musical instruments and fixtures and fittings transferred to Calderdale Music Ltd from Calderdal¢ MBC in 2015, less depreciation 011.ges. Arts Council England is a grant towards the costs of extending the delivery of Music education hub activity.
CALDERDALE MUSIC LIMtTED COMPANY LIIVllTED BY GUARA]YTEE DETAILED STATEMENT OF FINANCIAL ACTIVITIES 1¢gnfviJiied) PERIOD FROM I APRIL 2023 TO 31 AUGUST 2024 21. ANALYSIS OF NET ASSETS BETWEEN FUNDS Unrestricted Funds Restricted Total Funds Fiinds 2024 Tanoible red assets Current assets CreditOTS less tlian l year Net assets 298,549 245,741 (237,511) 306.779 58,707 357256 245,741 (237,511) 365,486 58,707 Unrestricted Funds Restricted Totsl Funds Funds 2023 Tangible fix¢d assets Current assets Cirditors less thali l year Net assets 382.599 256.146 (44,444) 594,301 79,372 461,971 256,146 (44,444) 673,673 79,372 22. ANALYSIS OF CHANGES IN NET DEBT l Apr 2023 Cash flows 31 Aug 2024 Cash at bank and in hand 222,041 {68,004) 154,037 23. OPERATING LEASE COMMITMEiYrs The total future minimutn lease payments under non-cancellable operating leases are as follows.. 31Aug24 31 Mar23 Not later than l year Lat¢r than l year and not later than 5 years 66,500 134.997 60,012 174,000 201,497 234,012 24. RELATED PARTIES There wer¢ no related party transactions during this Y[. 25