## **NWMTC Trustees Report y/e December 2023** NWMTC experienced slow growth in the first half of the year, possibly because of the continuing energy crisis putting pressure on family income. The new centre at Bangor was a welcome and promising addition to the centres (a rare opportunity not to be missed), but the conversion and work at the site, cost somewhat more than anticipated. There was also a big change halfway through the year as to how the charity gains income by way of subscriptions and expected instrument loan donations. This new system of converting to direct debit was carefully worked out to give more financial stability for the charity year-round, whilst being fair to the members by having the quarterly subscriptions payable in monthly instalments. However, as with most admin changes, it was too drastic for some, and they left. This resulted in a brief dip and a plateauing of the student base. To assist with a drop in finances, founders B and T Newton offered an interest-free personal loan to the charity in order to pay its expenses short term. The loan itself was not fully reimbursed by the end of the year, hence showing negative revenue in the accounts (Before the AGM in April 2024 all was repaid). The Trustees are very positive about the new system, particularly from autumn 2023, when the total disbursements received showed that the average income per head of those receiving lessons, exceeded the average from the previous year. Furthermore, the instrument loan scheme continues in popularity, gaining more new beginners in 2023 who are able to start lessons without having to first buy an instrument. The two new saxophone and cello tutors have played their part in this, and in turn the Gift Aid donations have increased . Owing to sickness and moving out of the area, NWMTC has seen several established tutors and an administrator leave their posts in 2023 and recruitment of new personnel is ongoing as we continue to grow with now seven tuition centres operational throughout North Wales and the Borders. As we look ahead for 2024, the charity wants to increase its standing in the community by offering more concerts and possibly other fundraising events. There is a strong feeling of optimism, in spite of ever-increasing costs, but with good management and engaging the best tutors in the locality, we will all triumph and be proud to serve NWMTC and its finest aims for the community we serve. B. Newton (Treasurer) 25/05/24 NORThWALE5f4usi¢wmoNCEPllRES InEomo Subscrfplons ftNd Exam RLYJM Hlre DDnaiions Eyam Fees In FunOralSlngiiThazonSmleiEWuTrJial￿[4I InstrumenrLoan ￿nal￿5 I7127&￿ £ 3127282 i￿23 É 22ts.IKJ È 107.76 19813) 107 T•tsis 219M71fft £ 180.16121 Rent 31A44.95 £ 26JK59 W318r Cleaners Ca￿EleCt￿¢￿ Teiethone .05 £ Z470.79 £ 6,311￿ £ 810J3 £ 249A6 8.079.16 513A2 779. Insurance5 Tro¥elEwen$8S VenueHire Malntenance Officesuppues Posta8e Refunds 1.030a2 3255.1rf) £ &J.(KJ E .762Ji £ 432S4 9.01525 EQi.58 2410.39 44& 76LOO E 68￿ £ 519th £ li6￿￿) £ 7,W27.3B £ Bank Charges PaypalFees Exam Feesout Studio Equipment 100 Club NerCEOWages PAYE minWage5 Fiona MeSsenger-Acc￿nts kcess Pay&Jfte Dlrect DetsiC0Uect￿ T￿or5 Website XI.0￿14 33.7￿CO £ 8270.C6 £ 1&74462 £ 627.W £ i.0￿.11 £ 114617AB £ 317552 7.287A8 I4￿A? 91.$2137 Totsls &Irp￿s￿0￿Cft 942.th) £ 35.07028 219.871.62 g 226,W27.41 4S,SS6.20 180.16L21 Openln88alance JIMuslDeNcrt 21793 E 35.070ae -E 76,(￿18 45.￿.20 .217.93 C1051ngBa￿nce31D8eemberBOnk￿ol1nt cl051ng8a￿nce3ID2CeMtser. P3ypat NeffionLoan Ne￿0￿ Loan pak1 b Less non presente¢ che4ffts .￿79 115.14 A8 É 20.(V).￿J E lo.l￿.00 150.TrJ 4.&5145 È )217S3 2023Notpres• ).tX) l+JtkYe5ented i £ 2022NotrXes•￿ed .￿ btyred anddmated bxk ¥11123 NORThWALE5f4usi¢wmoNCEPllRES InEomo Subscrfplons ftNd Exam RLYJM Hlre DDnaiions Eyam Fees In FunOralSlngiiThazonSmleiEWuTrJial￿[4I InstrumenrLoan ￿nal￿5 I7127&￿ £ 3127282 i￿23 É 22ts.IKJ È 107.76 19813) 107 T•tsis 219M71fft £ 180.16121 Rent 31A44.95 £ 26JK59 W318r Cleaners Ca￿EleCt￿¢￿ Teiethone .05 £ Z470.79 £ 6,311￿ £ 810J3 £ 249A6 8.079.16 513A2 779. Insurance5 Tro¥elEwen$8S VenueHire Malntenance Officesuppues Posta8e Refunds 1.030a2 3255.1rf) £ &J.(KJ E .762Ji £ 432S4 9.01525 EQi.58 2410.39 44& 76LOO E 68￿ £ 519th £ li6￿￿) £ 7,W27.3B £ Bank Charges PaypalFees Exam Feesout Studio Equipment 100 Club NerCEOWages PAYE minWage5 Fiona MeSsenger-Acc￿nts kcess Pay&Jfte Dlrect DetsiC0Uect￿ T￿or5 Website XI.0￿14 33.7￿CO £ 8270.C6 £ 1&74462 £ 627.W £ i.0￿.11 £ 114617AB £ 317552 7.287A8 I4￿A? 91.$2137 Totsls &Irp￿s￿0￿Cft 942.th) £ 35.07028 219.871.62 g 226,W27.41 4S,SS6.20 180.16L21 Openln88alance JIMuslDeNcrt 21793 E 35.070ae -E 76,(￿18 45.￿.20 .217.93 C1051ngBa￿nce31D8eemberBOnk￿ol1nt cl051ng8a￿nce3ID2CeMtser. P3ypat NeffionLoan Ne￿0￿ Loan pak1 b Less non presente¢ che4ffts .￿79 115.14 A8 É 20.(V).￿J E lo.l￿.00 150.TrJ 4.&5145 È )217S3 2023Notpres• ).tX) l+JtkYe5ented i £ 2022NotrXes•￿ed .￿ btyred anddmated bxk ¥11123