Report of the Trustees &
Financial Statements
Year ended 31 August 2023
Registered Charity Number: 1158146
CONTENTS
| Report of the Trustees Certificate of the Independent Examiner Financial Statements & Notes |
Page 2 6 8 |
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Page 1
www.chilternmusicacademy.org Registered charity number:1158146
Report of the Trustees Year Ended 31 August 2023
REPORT OF THE TRUSTEES
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Year ended 31 August 2023
Charity Number 1158146
Address The Royal Grammar School
Amersham Road
High Wycombe
Bucks. HP13 6QT
Trustees Mrs Julia Bentley-Dawkes (appointed 24 January 2023)
Mr Andrew Connolly (appointed 15 March 2022)
Mr Amir Jafri (appointed 24 January 2023)
Mrs Alex King
Mr Sam Laughton
Mr Ian Moore (resigned 24 January 2023)
Mrs Hilary Nohavicka
Ms Joanna Smart (appointed 24 January 2023)
Ms Anne-Marie Southall
Mr Philip Wayne (resigned 14 September 2023)
Governing 6 [th] July 2014: The Chiltern Music Academy (CMA) is a Charitable Incorporated
Document Organisation whose only voting members are its charity trustees.
Trustee Original trustees were appointed by the parent body to serve for two, three or
appointments four years. Subsequently they have been appointed by the existing trustees
with an expected term of office of three years. Trustees can be re-elected at
the end of their term.
The Chair is elected by the trustees.
Reserves The Trustees aim to hold sufficient funds to cover one term’s outgoings. Funds
are slightly higher than usual this year as a result of the COVID pandemic as
funds held for recovery or projects that needed to be put on hold have not yet
all been used. It is expected that these excess funds will be used over the next
couple of years.
Designated funds are held to cover one term’s outgoings and funds are also
currently being held in preparation for increased costs (staffing and 10 [th]
anniversary) in 2023-24.
Restricted funds include grants or donations for specified purposes – for
example grants for orchestral development, for community projects such as
Sing & String, and to encourage the uptake of rarer instruments.
Funds held as a There are no funds held as a custodial trustee.
custodial trustee
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| Registered charity number:1158146 |
Report of the Trustees Year Ended 31 August 2023
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Investments Investments are limited to funds held in the bank and the interest this can
accrue.
Principal funding Membership is our principal funding source, supported by donations and
sources successful grant applications in support of our activities.
Public benefit The trustees of CMA confirm that we have complied with our duty to have due
regard to the guidance on public benefit in exercising our powers and duties as
published by the Charity Commission.
Day to day Management of activities in 2022-23 was delegated to the Principal.
management
Other relevant Metro Bank, High Wycombe
organisations CAF Bank
Co-operative Bank
Independent Examiner – Katharine Parkin
Organisational Trustees make decisions regarding any financial expenditure in excess of £1000.
structure Expenditure below this is delegated to the Principal and Business Manager.
The Principal delegates duties to ensemble leaders who work on a freelance
basis. Some leadership work, particularly in the development of new
opportunities and concert organisation, is delegated to ensemble leaders.
CMA is not affiliated under an umbrella group.
CMA has no subsidiaries. It collaborates with other charitable music
organisations such as Garsington Opera and Music for Youth.
Policies and CMA has a Bursary Policy, a Child Protection Policy, an Equality and Diversity
procedures Policy and a Health and Safety Policy, all published on the website.
CMA trustees hold enhanced DBS certificates.
Multiple trustees are trained in Child Protection, Safer recruitment and
Prevent. The Child Protection Policy is circulated to all staff every September.
CMA receive regular safeguarding updates through various trustees.
There are no policies in place for the induction and training of trustees. Some
trustees are trustees or governors of other organisations and have received
training through them.
Risks The Trustees review all major risks to which the charity is exposed. These are
reviewed in Trustee meetings, held at least termly, and systems and
procedures are in place to manage those risks
Objects of the To advance the musical education of children and young people, including but
charity not limited to the provision of orchestras, choirs and other ensembles so that
they can rehearse and perform to the public; and to advance, improve and
maintain public education in, and appreciation of, music through the
presentation of public concerts or in other ways as decided by the trustees.
The Trustees have paid due regard to the Charity Commission’s guidance when
considering CMA’s activities.
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www.chilternmusicacademy.org Registered charity number:1158146
Report of the Trustees Year Ended 31 August 2023
| Objectives and activities |
CMA sets out to give all students, irrespective of their background, the opportunity to play and perform with passion. Our objective is to ensure the highest quality of music experience delivered in a positive and supportive atmosphere. CMA was set up to provide music ensemble, orchestral and choral opportunities. All students have the chance to play their chosen instruments with others and therefore extend their playing experiences and stretch their abilities so that they can fulfil their potential. Instruments are loaned to students where required, and at a subsidised rate to support families as appropriate. |
|---|---|
| Specific objectives for the year ending August 2023 |
Continue to rebuild the student numbers, including looking at expanding provision to younger age groups. Increase performance opportunities to a more normal level following Covid restrictions. To look to enter national festivals where appropriate to provide excellent musical opportunities and to restart European tours for our most senior groups. Increase musical opportunities for children of low income families. |
| Review of charitable activities undertaken and achievements for the year ending August 2023 |
CMA continues to provide outreach musical experiences to children in High Wycombe. A programme of 21 primary school singing-assemblies were delivered to encourage children to aspire to make music. 75 KS1 children attended a Coronation party. These activities also increased awareness of CMA and hence recruitment at the younger ages. Musical opportunities for children in their pre-school year were trialled. Concert Band achieved Platinum awards at both the Regional and National level of the National Concert Band Festival. Symphony Orchestra were invited to play in the Music For Youth festival in Birmingham and subsequently in the Music For Youth Proms in the Royal Albert Hall. Our Senior groups undertook a very successful and enjoyable tour to Catalonia in July. 30 children started their instrumental journey on our Find Your Forte program designed to take the financial risk out of starting an instrument. 180 year 2 and 3 children participated in Sing & String, a school based project opening musical opportunities to those who may not ordinarily have the chance. |
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www.chilternmusicacademy.org Registered charity number:1158146
Report of the Trustees Year Ended 31 August 2023
| Financial Review |
Membership continued to grow and generous donations have helped us to continue offering our full program. Whilst our costs have increased with appointment of a Principal (who took post from September 2022) and an administrator, this was planned and funds had previously been set aside to cover these expected additional costs. At the end of the year, 31 August 2023, the funds carried forward were £167,599 of which £28,346 were general unrestricted and £92,000 are designated for future costs and reserves, the remainder are restricted. |
|---|---|
| Volunteers | Parents, friends and relatives of CMA members raise money through the operation of a social venue for other parents to have a coffee and a chat, they raise money during concerts by selling tickets and providing interval snacks. Volunteers also provide invaluable support for the musical activities and the administration and leadership of CMA. The Trustees are as ever, extremely grateful to all volunteers who help run CMA. |
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www.chilternmusicacademy.org Registered charity number:1158146
CHARITY COMMISSION FOR ENGLAND ANO WALES Independent examiner's report on the accounts Section A Independent Examiner's Report Report to the trustees Chillem Music Academy On accounts for the year ènd8d 3110812023 Charlty no (If any) 1158146 l port to the trustees on my examination of the accounts of the above charity (Ihe Trust") for the year ended 3110812023. Responslbllltles and basls of report As the charitys trustees, you are responsible for the preparation of the accounts in accx)rdance with th8 r8quirements of Ihe Chartties Acl 2011 {'the Acl'l. I report in respect of my examination of the Trust's accounts carried out under section 145 of the 2011 Act and in carying out my examination, I have followed all the applicAble Directions given by the Charity Commission under section 14515llb) of the Acl. Independent charitys gross income exceeded £250,000 and l am qualified to examlnerfs statement urKJertake the examination by being a qualified member of The Inslitule of Chartered A¢¢ountanls of Scotland (ICAS). I have completed my examinalion. I confim that no material matters have come to my attention in connection with Ihe examination which gives me cause to believe that in. any material respect.. the accounting records We not kept in accordance with section 130 of the Chanties Act., or the accounts did not accord with the accounting records., or the accounts did not comply with the applicable requirements conceming the fom and Gontent of accounts sel out in Ihe Charities {Arxounts and Reports) Regulations 2008 other than any requirement that the accounts give a 'true and fairf view which is not a matter considered as part of an independent examination. I have no concems and have come across no other matters In connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. Slgned: Date: Namo: Katharine Parkln Rolevant profos8lonal qUalmtIon(s) or b¢xly (If any): Institute of Chartered Accountants of Scolland (ICAS) Oct 2018
Address: Ladymead Bass8tsbury Lane, High Wycomb8 HP11 1QU Section B Disclosure Only complete If the examiner needs to highlight material mallers of concern (see CC32. Independent examination of charity a¢unts.. directions and guidance for examiners). Glve here brlef detalls of any Items that the examlner wlshos to dlsclose. IER Oct 2018
Financial Statements Year Ended 31 August 2023
| FINANCIAL STATEMENTS & NOTES | FINANCIAL STATEMENTS & NOTES | FINANCIAL STATEMENTS & NOTES | |
|---|---|---|---|
| 1158146 Period start date 01/09/2022 To 31/08/2023 Chiltern Music Academy Annual accounts for the period |
|||
| Section A | Statement of financial activities | ||
| Recommended categories by activity Incoming resources (Note 3) Income and endowments from: Donations and legacies Charitable activities Other trading activities Investments Separate material item of income Other Resources expended (Note 6) Expenditure on: Raising funds Charitable activities Separate material item of expense Other Net gains/(losses) on investments Extraordinary items Other gains/(losses) Reconciliation of funds: Total Net movement in funds Total funds brought forward Total funds carried forward Total Net income/(expenditure) before investment gains/(losses) Net income/(expenditure) Transfers between funds Other recognised gains/(losses): Gains and losses on revaluation of fixed assets for the charity’s own use |
Unrestricted funds Designated Funds Restricted income funds Total funds £ £ £ £ 124,737 27,267 152,004 105,242 - 105,242 6,401 - 6,401 549 - 549 - - - - - - |
Prior year funds £ |
|
| 133,694 35,167 6,473 20 - - |
|||
| 236,929 27,267 264,196 |
175,354 | ||
| 11,587 - 11,587 156,157 28,571 23,709 208,436 - - - - - - |
|||
| 19,429 124,696 - - |
|||
| 167,744 28,571 23,709 220,023 |
144,125 | ||
| 69,185 (28,571) 3,558 44,172 |
31,228 | ||
| - - - |
- | ||
| 69,185 (28,571) 3,558 44,172 |
31,228 | ||
| - - - (60,221) 60,221 - - - - - - - - |
- - |
||
| - - |
|||
| 8,964 31,650 3,558 44,172 |
31,228 | ||
| 19,432 60,350 43,695 123,477 |
92,249 | ||
| 28,396 92,000 47,253 167,649 |
123,477 |
www.chilternmusicacademy.org Registered charity number:1158146
Financial Statements Year Ended 31 August 2023
Section B Balance sheet
| Fixed assets Intangible assets (Note 15) Tangible assets (Note 14) Heritage assets (Note 16) Investments (Note 17) Total fixed assets Current assets Stocks (Note 18) Debtors (Note 19) Investments (Note 17.4) Cash at bank and in hand (Note 24) Total current assets Creditors: amounts falling due within one year (Note 20) Net current assets/(liabilities) Total assets less current liabilities Creditors: amounts falling due after one year (Note 20) Provisions for liabilities Total net assets or liabilities Funds of the Charity Endowment funds (Note 27) Restricted income funds (Note 27) Designated Funds (Note 21) Unrestricted funds Revaluation reserve Total funds Signed by one or two trustees on behalf of all the trustees |
Unrestricted funds Designated Funds Restricted income funds Total this year Total last year £ £ £ £ £ - - - - - - - - - - - - - - - - |
|
|---|---|---|
| - - - - |
||
| - - - - 100 - 100 7,000 - - - - 35,392 92,000 47,252 174,644 130,063 |
||
| 35,492 92,000 47,252 174,744 137,063 |
||
| 7,096 - 7,096 13,587 |
||
| 28,396 92,000 47,252 167,648 123,476 |
||
| 28,396 92,000 47,252 167,648 123,476 |
||
| - - - - - - - - |
||
| 28,396 92,000 47,252 167,648 123,476 |
||
| - - - 47,252 47,252 43,695 92,000 92,000 60,350 28,396 28,396 19,431 - - |
||
| 28,396 92,000 47,252 167,648 123,476 |
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| Date of approval dd/mm/yyyy 25/06/2024 25/06/2024 Sam Laughton Alex King Print Name Signature |
www.chilternmusicacademy.org Registered charity number:1158146
Financial Statements Year Ended 31 August 2023
Section C Notes to the accounts
Note 1 Basis of preparation
This section should be completed by all charities .
1.1 Basis of accounting
These accounts have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant note(s) to these accounts.
The accounts have been prepared in accordance with:
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the Statement of Recommended Practice: Accounting and Reporting by Charities
• and with preparing their accounts in accordance with the Financial Reporting Standard
applicable in the UK and Republic of Ireland (FRS 102) issued on 16 July 2014
• and with the Financial Reporting Standard applicable in the United Kingdom and Republic of
Ireland (FRS 102)
• and with the Charities Act 2011.
The charity constitutes a public benefit entity as defined by
FRS 102.
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- -Tick as appropriate
1.2 Going concern
If there are material uncertainties related to events or conditions that cast significant doubt on the charity's ability to continue as a going concern, please provide the following details or state "Not applicable", if appropriate:
| Where accounts are not prepared on a going concern basis, please disclose this fact together with the basis on which the trustees prepared the accounts and the reason why the charity is not regarded as a going concern. Disclosure of any uncertainties that make the going concern assumption doubtful; An explanation as to those factors that support the conclusion that the charity is a going concern; |
The Trustees consider that the charity has sufficient resources to continue its' activites for the forseeable future. Not applicable Not applicable |
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1.3 Change of accounting policy
The accounts present a true and fair view and the accounting policies adopted are those outlined in notes 1 and 2.
| Yes No |
| * -Tick as appropriate |
|---|---|---|
Please disclose:
www.chilternmusicacademy.org Registered charity number:1158146
Financial Statements Year Ended 31 August 2023
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(i) the nature of the change in accounting policy; Not applicable
(ii) the reasons why applying the new accounting policy
provides more reliable and more relevant information; Not applicable
and
(iii) the amount of the adjustment for each line affected
in the current period, each prior period presented and
the aggregate amount of the adjustment relating to
periods before those presented, 3.44 FRS 102 SORP. Not applicable
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1.4 Changes to accounting estimates
No changes to accounting estimates have occurred in the reporting period (3.46 FRS 102 SORP).
| Yes No |
* -Tick as appropriate | |
|---|---|---|
| Please disclose: | ||
| (i) the nature of any changes; | Not Applicable | |
| (ii) the effect of the change on income and expense or assets and liabilities for the current period; and |
Not Applicable | |
| (iii) where practicable, the effect of the change in one or | ||
| more future periods. | ||
| Not Applicable |
1.5 Material prior year errors
No material prior year error have been identified in the reporting period (3.47 FRS 102 SORP).
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Yes
-Tick as appropriate
No
Please disclose:
(i) the nature of the prior period error; Not Applicable
(ii) for each prior period presented in the accounts, the
amount of the correction for each account line item
affected; and
Not Applicable
(iii) the amount of the correction at the beginning of the
earliest prior period presented in the accounts.
Not Applicable
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www.chilternmusicacademy.org Registered charity number:1158146
Financial Statements Year Ended 31 August 2023
Section C Notes to the accounts
Note 2 Accounting policies
Please complete this note when first reporting under FRS2102. Section 35 of FRS102, requires 3 reconciliations to be presented, if all are applicable.
2.1 RECONCILIATION WITH PREVIOUS GENERALLY ACCEPTED ACCOUNTING PRACTICE
Please provide a description of the nature of each change in accounting policy
Reconcilation of funds per previous GAAP to funds determined under FRS 102
Start of End of period period £ £
Fund balances as previously stated Adjustments:
Fund balance as restated
Reconcilation of net income/(net expenditure) per previous GAAP to net income/(net expenditure) under FRS 102
End of £ Net income/(expenditure) as previously stated Adjustments:
Previous period net income/(expenditure) as restated
www.chilternmusicacademy.org Registered charity number:1158146
Financial Statements Year Ended 31 August 2023
Section C Notes to the accounts (cont)
Note 2 Accounting policies 2.2 INCOME
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This standard list of accounting policies has been applied by the charity except for those ticked "No" or "N/a". Where a
different or additional policy has been adopted then this is detailed in the box below.
Recognition of income These are included in the Statement of Financial Activities (SoFA) when:
the charity becomes entitled to the resources;
· it is more likely than not that the trustees will receive the resources; and Yes No N/a
the monetary value can be measured with sufficient reliability.
Yes No N/a
There has been no offsetting of assets and liabilities, or income and expenses, unless required
Offsetting or permitted by the FRS 102 SORP or FRS 102.
Yes No N/a
Grants and donations are only included in the SoFA when the general income
Grants and donations recognition criteria are met (5.10 to 5.12 FRS102 SORP).
Yes No N/a
In the case of performance related grants, income must only be recognised to the extent
that the charity has provided the specified goods or services as entitlement to the grant
only occurs when the performance related conditions are met (5.16 FRS 102 SORP).
Legacies Legacies are included in the SOFA when receipt is probable, that is, when there has Yes No N/a
been grant of probate, the executors have established that there are sufficient assets in
the estate and any conditions attached to the legacy are either within the control of the
charity or have been met.
Yes No N/a
Government grants The charity has received government grants in the reporting period
Gift Aid receivable is included in income when there is a valid declaration from the
Tax reclaims on donor. Any Gift Aid amount recovered on a donation is considered to be part of that gift Yes No N/a
donations and gifts and is treated as an addition to the same fund as the initial donation unless the donor or
the terms of the appeal have specified otherwise.
Yes No N/a
Contractual income and This is only included in the SoFA once the charity has provided the related goods or
performance related services or met the performance related conditions.
grants
Yes No N/a
Donated goods are measured at fair value (the amount for which the asset could be
Donated goods
exchanged) unless impractical to do so.
The cost of any stock of goods donated for distribution to beneficiaries is deemed to be
Yes No N/a
the fair value of those gifts at the time of their receipt and they are recognised on
receipt. In the reporting period in which the stocks are distributed, they are recognised
as an expense at the carrying amount of the stocks at distribution.
Donated goods for resale are measured at fair value on initial recognition, which is the
expected proceeds from sale less the expected costs of sale, and recognised in 'Income
Yes No N/a
from other trading activities' with the corresponding stock recognised in the balance
sheet. On its sale the value of stock is charged against 'Income from other trading
activities' and the proceeds from sale are also recognised as 'Income from other trading
activities'.
Yes No N/a
Goods donated for on-going use by the charity are recognised as tangible fixed assets
and included in the SoFA as incoming resources when receivable.
Yes No N/a
Gifts in kind for use by the charity are included in the SoFA as income from donations
when receivable.
Yes No N/a
Donated services and Donated services and facilities are included in the SOFA when received at the value of
facilities the gift to the charity provided the value of the gift can be measured reliably.
Donated services and facilities that are consumed immediately are recognised as Yes No N/a
income with an equivalent amount recognised as an expense under the appropriate
heading in the SOFA.
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www.chilternmusicacademy.org Registered charity number:1158146
Financial Statements Year Ended 31 August 2023
| 2.4 ASSETS Intangible fixed assets Grants with performance conditions Where the charity gives a grant with conditions for its payment being a specific level of service or output to be provided, such grants are only recognised in the SoFA once the recipient of the grant has provided the specified service or output. Grants payable without performance conditions Where there are no conditions attaching to the grant that enables the donor charity to realistically avoid the commitment, a liability for the full funding obligation must be recognised. Settlement of insurance claims Insurance claims are only included in the SoFA when the general income recognition criteria are met (5.10 to 5.12 FRS102 SORP) and are included as an item of other income in the SoFA. They are valued at cost. Support costs The charity has incurred expenditure on support costs. Volunteer help These are capitalised if they can be used for more than one year, and cost at least The value of any voluntary help received is not included in the accounts but is described in the trustees’ annual report. Redundancy cost The charity made no redundancy payments during the reporting period. Deferred income No material item of deferred income has been included in the accounts. The charity has intangible fixed assets, that is, non-monetary assets that do not have physical substance but are identifiable and are controlled by the charity through custody or legal rights. The amortisation rates and methods used are disclosed in note 9.5 They are valued at cost. This includes any realised or unrealised gains or losses on the sale of investments and any gain or loss resulting from revaluing investments to market value at the end of the year. Income from interest, royalties and dividends This is included in the accounts when receipt is probable and the amount receivable can be measured reliably. Income from membership subscriptions Membership subscriptions received in the nature of a gift are recognised in Donations and Legacies. Membership subscriptions which gives a member the right to buy services or other benefits are recognised as income earned from the provision of goods and services as income from charitable activities. 2.3 EXPENDITURE AND LIABILITIES Liability recognition Liabilities are recognised where it is more likely than not that there is a legal or constructive obligation committing the charity to pay out resources and the amount of the obligation can be measured with reasonable certainty. Investment gains and losses The charity accounts for basic financial instruments on initial recognition as per paragraph 10.7 FRS102 SORP. Subsequent measurement is as per paragraphs 11.17 to 11.19, FRS102 SORP. Tangible fixed assets for use by charity The depreciation rates and methods used are disclosed in note 9.2. Governance and support costs Support costs have been allocated between governance costs and other support. Governance costs comprise all costs involving public accountability of the charity and its compliance with regulation and good practice. Creditors The charity has creditors which are measured at settlement amounts less any trade discounts Provisions for liabilities A liability is measured on recognition at its historical cost and then subsequently measured at the best estimate of the amount required to settle the obligation at the reporting date Basic financial instruments Support costs include central functions and have been allocated to activity cost categories on a basis consistent with the use of resources, eg allocating property costs by floor areas, or per capita, staff costs by the time spent and other costs by their usage. |
Yes No N/a Yes No N/a Yes No N/a Yes No N/a Yes No N/a Yes No N/a Yes No N/a Yes No N/a Yes No N/a Yes No N/a Yes No N/a Yes No N/a Yes No N/a Yes No N/a Yes No N/a Yes No N/a Yes No N/a £750 Yes No N/a Yes No N/a Yes No N/a |
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www.chilternmusicacademy.org Registered charity number:1158146
Financial Statements Year Ended 31 August 2023
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Heritage assets The charity has heritage assets, that is, non-monetary assets with historic, artistic, Yes No N/a
scientific, technological, geophysical or environmental qualities that are held and
maintained principally for their contribution to knowledge and culture. The depreciation
rates and methods used as disclosed in note 9.6.1.4.
Yes No N/a
They are valued at cost.
Investments Fixed asset investments in quoted shares, traded bonds and similar investments are
valued at initially at cost and subsequently at fair value (their market value) at the year Yes No N/a
end. The same treatment is applied to unlisted investments unless fair value cannot be
measured reliably in which case it is measured at cost less impairment.
Yes No N/a
Investments held for resale or pending their sale and cash and cash equivalents with a
maturity date of less than 1 year are treated as current asset investments
Yes No N/a
Stocks and work in Stocks held for sale as part of non-charitable trade are measured at the lower or cost or net
progress realisable value.
Yes No N/a
Goods or services provided as part of a charitable activity are measured at net realisable value
based on the service potential provided by items of stock.
Yes No N/a
Work in progress is valued at cost less any foreseeable loss that is likely to occur on the
contract.
Debtors (including trade debtors and loans receivable) are measured on initial recognition at Yes No N/a
Debtors settlement amount after any trade discounts or amount advanced by the charity. Subsequently,
they are measured at the cash or other consideration expected to be received.
The charity has has investments which it holds for resale or pending their sale and cash and Yes No N/a
Current asset cash equivalents with a maturity date less than one year. These include cash on deposit and
investments cash equivalents with a maturity date of less than one year held for investment purposes rather
than to meet short term cash commitments as they fall due.
Yes No N/a
They are valued at fair value except where they qualify as basic financial instruments.
POLICIES ADOPTED
ADDITIONAL TO OR
DIFFERENT FROM
THOSE ABOVE
Donated goods held for resale are recognised at the time of sale
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www.chilternmusicacademy.org Registered charity number:1158146
Financial Statements Year Ended 31 August 2023
Section C Notes to the accounts (cont)
Note 3 Analysis of income
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Restricted
Unrestricted income
funds funds Total funds Prior year
Analysis £ £
Donations Donations and gifts 11,522 27,267 38,788 33,114
and legacies: Gift Aid 15,027 - 15,027 6,968
Legacies - - - -
General grants provided by
government/other charities - - -
Membership subscriptions and sponsorships
which are in substance donations 98,188 - 98,188 93,611
Donated goods, facilities and services - - - -
Other - - - -
Total 124,737 27,267 152,004 133,694
-
Charitable Concerts, Tours & Events
activities: 95,301 - 95,301 26,251
- - - -
- - - -
Other 9,941 - 9,941 8,916
Total 105,242 - 105,242 35,167
-
Other Tuck shop
trading 6,401 - 6,401 6,473
activities: - - - -
- - - -
Other - - - -
Total 6,401 - 6,401 6,473
-
Income from Interest income 549 - 549 20
investments: Dividend income - - - -
Rental and leasing income - - - -
Other - - - -
Total 549 - 549 20
-
Separate - - - -
material item - - - -
of income: - - - -
- - - -
Total - - - -
Other: Conversion of endowment funds into income - - - -
Gain on disposal of a tangible fixed asset
held for charity's own use - - - -
Gain on disposal of a programme related
investment - - - -
Royalties from the exploitation of intellectual
property rights - - - -
Other - - - -
Total - - - -
-
TOTAL INCOME 236,929 27,267 264,196 175,354
Other information:
All income in the prior year was unrestricted except for: (please £16,692 in respect of the Find Your Forte programme, Sing &
provide description and amounts) String and Junior Groups
Where any endowment fund is converted into income in the
reporting period, please give the reason for the conversion.
Within the income items above the following items are material:
(please disclose the nature, amount and any prior year
amounts)
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www.chilternmusicacademy.org Registered charity number:1158146
Financial Statements Year Ended 31 August 2023
Section C Notes to the accounts (cont)
Note 4 Analysis of receipts of government grants
| Government grant 1 Government grant 2 Government grant 3 Other Please provide details of any unfulfilled conditions and other contingencies attaching to grants that have been recognised in income. Please give details of other forms of government assistance from which the charity has directly benefited. |
This year Last year £ £ - - - - - - - - Total - - Description |
This year Last year £ £ - - - - - - - - Total - - Description |
|---|---|---|
www.chilternmusicacademy.org Registered charity number:1158146
Financial Statements Year Ended 31 August 2023
Section C Notes to the accounts (cont)
Note 5 Donated goods, facilities and services
| Use of property Other Seconded staff |
Donated goods are recognised at point of sale None There are a number of unpaid volunteers assisting with the tuck shop, ensembles and various administrative processes |
This year Last year £ £ - - - - - - |
|---|---|---|
| - - |
||
| Please provide details of the accounting policy for the recognition and valuation of donated goods, facilities and services. |
||
| Please provide details of any unfulfilled conditions and other contingencies attaching to resources from donated goods and services not recognised in income. Please give details of other forms of other donated goods and services not recognised in the accounts, eg contribution of unpaid volunteers. |
www.chilternmusicacademy.org Registered charity number:1158146
Financial Statements Year Ended 31 August 2023
Section C Notes to the accounts (cont)
Note 6 Analysis of expenditure
----- Start of picture text -----
Restricted
Unrestricted income
funds funds Total funds Prior year
Analysis £ £
Expenditure on Incurred seeking donations - - - -
raising funds: Incurred seeking legacies - - - -
Incurred seeking grants - -
Operating membership schemes and
social lotteries 8,456 8,456 15,722
Staging fundraising events - -
Fundraising agents - -
Operating charity shops - -
Operating a trading company
undertaking non-charitable trading - -
activity
Advertising, marketing, direct mail and publicity - - - -
Start up costs incurred in generating
new source of future income - - - -
Database development costs - - - -
Other trading activities 3,131 3,131 3,707
Investment management costs: - - - -
Portfolio management costs - - - -
Cost of obtaining investment advice - - - -
Investment administration costs - - - -
Intellectual property licencing costs - - - -
Rent collection, property repairs and
maintenance charges - - - -
- - - -
Total expenditure on raising funds 11,587 - - 11,587 19,429
Expenditure on Rental and Ensemble Leaders 48,360 22,823 71,183 68,804
charitable Concerts, Tours & Events 85,071 686 85,757 23,705
activities
Salaries 13,875 28,571 - 42,445 26,416
Other 8,851 200 9,051 5,771
Total expenditure on charitable
activities 156,157 28,571 23,709 208,436 124,696
Separate - - - -
material item of - - - -
expense
- - - -
- - - -
Total - - - -
Other -
- - - -
- - - -
- - - -
- - - -
- - - -
Total other expenditure - - - -
TOTAL EXPENDITURE 167,744 28,571 23,709 220,023 144,125
----- End of picture text -----
www.chilternmusicacademy.org Registered charity number:1158146
Financial Statements Year Ended 31 August 2023
Other information:
Analysis of expenditure on charitable activities
----- Start of picture text -----
Grant
Activity or funding Total this Total
Activities undertaken directly
programme of year prior year
activities
£ £ £ £
Activity 1
Activity 2
Other
Total
Prior year expenditure on charitable activities
can be analysed as follows:
Within the expenditure items above the
following items are material: (please disclose
the nature, amount and any prior year
amounts)
----- End of picture text -----
www.chilternmusicacademy.org Registered charity number:1158146
Financial Statements Year Ended 31 August 2023
Section C Notes to the accounts (cont)
Note 7 Extraordinary items
Please explain the nature of each extraordinary item occurring in the period.
| Extraordinary item 1 Extraordinary item 2 Extraordinary item 3 Extraordinary item 4 Total extrordinary items Description |
This year Last year £ £ - - - - - - - - - - |
|---|---|
| - - |
www.chilternmusicacademy.org Registered charity number:1158146
Financial Statements Year Ended 31 August 2023
Section C Notes to the accounts
Note 8 Funds received as agent
8.1 Please complete this note if the charity has agreed to administer the funds of another entity as its agent. Note: If a charity is acting as an agent, it should not recognise the income in the Statement of Financial Activities or the Balance Sheet.
----- Start of picture text -----
Amount received Amount paid out Balance held at period end
Description/name of party Related
party (Yes This year Last year This year Last year This year Last year
or No) £ £ £ £ £ £
- - - - - -
- - - - - -
- - - - - -
- - - - - -
- - - - - -
Total - - - - - -
----- End of picture text -----
8.2 Where a consortia or similar arrangement exists whereby 2 or more charities co-operate to achieve economies in the purchase of goods or services, please discose details of any balances outstanding between any participating members.
| Description/name | of | party | Balance held at period end | Balance held at period end | Balance held at period end | ||
|---|---|---|---|---|---|---|---|
| This year | Last year | ||||||
| £ | £ | ||||||
| - | - | ||||||
| - | - | ||||||
| - | - | ||||||
| - | - | ||||||
| - | - | ||||||
| Total | - | - |
www.chilternmusicacademy.org Registered charity number:1158146
Financial Statements Year Ended 31 August 2023
Section C Notes to the accounts
Note 9 Support Costs
Please complete this note if the charity has analysed its expenses using activity categories and has support costs.
----- Start of picture text -----
Charitable Basis of
Raising funds Activities Activity 2 Activity 3 Grand total allocation
Support cost (Describe
(examples) £ £ £ £ £ method)
Support Staff Costs 12,140 39,918 - 52,058 Time spent
-
12,140 39,918 52,058
Total
----- End of picture text -----
Please provide details of the accounting policy adopted for the apportionment of costs between activities and any estimation techniques used to calculate their apportionment.
www.chilternmusicacademy.org Registered charity number:1158146
Financial Statements Year Ended 31 August 2023
Section C Notes to the accounts
Note 10 Details of certain items of expenditure
10.1 Fees for examination of the accounts
Please provide details of the amount paid for any statutory external scrutiny of accounts and other services provided by your independent examiner. If nothing was paid please enter '0' in the appropriate box(es).
| Other fees (for example: financial advice, consultancy, accountancy services) paid to the independent examiner Independent examiner’s fees Assurance services other than audit or independent examination Tax advisory fees |
This year Last year £ £ None None None None None None None None |
|---|---|
www.chilternmusicacademy.org Registered charity number:1158146
Financial Statements Year Ended 31 August 2023
Section C Notes to the accounts (cont)
Note 11 Paid employees Please complete this note if the charity has any employees.
11.1 Staff Costs
| 11.1 Staff Costs | |||||||
|---|---|---|---|---|---|---|---|
| This year | Last year | ||||||
| £ | £ | ||||||
| Salaries and wages | 27,621 | 1,383 | |||||
| Social security costs | - | - | |||||
| Pension costs (defined contribution scheme) | 949 | - | |||||
| Other employee benefits | - | - | |||||
| Total staff costs | 28,571 | 1,383 | |||||
| Please provide details of expenditure on staff working for the | Not Applicable | ||||||
| charity whose contracts are with and are paid by a related party |
Please give details of the number of employees whose total employee benefits (excluding employer pension costs) fell within each band of £10,000 from £60,000 upwards. If there are no such transactions, please enter 'true' in the box provided.
| No employees received employee benefits (excluding employer | No employees received employee benefits (excluding employer | ||
|---|---|---|---|
| pension costs) for the reporting period of more than £60,000 | TRUE | ||
| Band | Number of employees | ||
| £60,000 to £69,999 | |||
| £70,000 to £79,999 | |||
| £80,000 to £89,999 | |||
| £90,000 to £99,999 | |||
| £100,000 to £109,999 | |||
| Please provide the total amount paid to | |||
| key management personnel (includes | |||
| trustees and senior management) for | |||
| their services to the charity |
| 11.2 Average head count in the year The parts of the charity in which the employees work |
This year Last year Number Number Fundraising - - Charitable Activities 1 - Governance - - Other - - Total1 - |
This year Last year Number Number - - 1 - - - - - |
|---|---|---|
www.chilternmusicacademy.org Registered charity number:1158146
Financial Statements Year Ended 31 August 2023
11.3 Ex-gratia payments to employees and others (excluding trustees)
Please complete if an ex-gratia payment is made.
Please explain the nature of the None t Please state the legal authority or reason for making the payment
Please state the amount of the payment (or value of any waiver of a right to an asset)
11.4 Redundancy payments
Please complete if any redundancy or termination payment is made in the period.
Total amount of payment
The nature of the payment (cash, asset etc.) The extent of redundancy funding at the balance sheet date
Please state the accounting policy for any redundancy or termination payments
www.chilternmusicacademy.org Registered charity number:1158146
Financial Statements Year Ended 31 August 2023
Section C Notes to the accounts (cont)
Note 12 Defined contribution pension scheme or defined benefit scheme accounted for as a defined contribution scheme.
12.1 Please complete this note if a defined contribution pension scheme is operated.
Amount of contributions recognised in 950.00 the SOFA as an expense Please explain the basis for allocating All from charitable activites designated funds the liability and expense of defined contribution pension scheme between activities and between restricted and unrestricted funds.
12.2 Please complete this section where the charity participates in a defined benefit pension plan but is unable to ascertain its share of the underlying assets and liabilities.
Please confirm that altough the scheme is accounted for as a defined contribution plan, it is a defined benefit plan.
Please provide such information as is available about the plan's surplus or deficit and the implications, if any, for the reporting charity
12.3 Please complete this section where the charity participates in a multi-employer defined benefit pension plan that is accounted for as a defined contribution plan.
Describe the extent to which the charity can be liable to the plan for other entities' obligations under the terms and conditions of the multiemployer plan
www.chilternmusicacademy.org Registered charity number:1158146
Financial Statements Year Ended 31 August 2023
Section C Notes to the accounts (cont)
Note 13 Grantmaking
Please complete this note if the charity made any grants or donations which in aggregate form a material part of the charitable activities undertaken.
13.1 Analysis of grants paid (included in cost of charitable activities)
----- Start of picture text -----
Grants to Grants to
Analysis institutions individuals Support costs Total
Activity or project 1 £ £
Activity or project 2 - -
Activity or project 3 - -
Activity or project 4 - [ - ]
Total - - - -
----- End of picture text -----
Please enter “Nil” if the charity does not identify and/or allocate support costs.
13.2 Grants made to institutions
| Yes No TOTAL GRANTS PAID Other unanalysed grants Total grants to institutions in reporting period Purpose Names of institution My charity has made grants to particular institutions that are material in the context of its grantmaking. Details of the institution supported, purpose of the grant and total paid to each institution is available on the charity's web site. |
Please provide details of charity's URL. Provide details below Total amount of grants paid £ - - - - - - - - - - |
|---|---|
| - | |
| - - |
www.chilternmusicacademy.org Registered charity number:1158146
Financial Statements Year Ended 31 August 2023
Section C Notes to the accounts (cont)
Note 14 Tangible fixed assets Please complete this note if the charity has any tangible fixed assets
14.1 Cost or valuation
----- Start of picture text -----
Freehold land Other land & Plant, Fixtures, Total
& buildings buildings machinery fittings and
and motor equipment
vehicles
£ £ £ £ £
At the beginning of - - -
32,349 32,349
the year
Additions - - - - -
Revaluations - - - - -
Disposals - - - - -
Transfers * - - - - -
At end of the year - - -
32,349 32,349
14.2 Depreciation and impairments
Basis SL SL SL SL Straight Line
("SL") or
Reducing
Balance
("RB")
Rate 20%
At beginning of the - - -
32,349 32,349
year
Disposals - - - - -
Depreciation - - - - -
Impairment - - - - -
Transfers - - - - -
At end of the year - - -
32,349 32,349
14.3 Net book value
Net book value at the
beginning of the year - - - - -
Net book value at the
end of the year - - - - -
14.4 Impairment
Not applicable
Please provide a description of the events and
circumstances that led to the recognition or
reversal of an impairment loss.
----- End of picture text -----*
www.chilternmusicacademy.org Registered charity number:1158146
Financial Statements Year Ended 31 August 2023
14.5 Revaluation
If an accounting policy of revaluation is adopted, please provide:
the effective date of the revaluation
Not applicable
the name of independent valuer, if applicable
the methods applied and significant assumptions
the carrying amount that would have been recognised had the assets been carried under the cost model.
14.6 Other disclosures
(i) Please state the amount of borrowing costs, if any, capitalised in the construction of tangible fixed assets and the capitalisation rate used.
(i) Please state the amount of borrowing costs, None if any, capitalised in the construction of tangible fixed assets and the capitalisation rate used. (ii) Please provide the amount of contractual None commitments for the acquisition of tangible fixed assets. (iii) Details of the existence and carrying None amounts of property, plant and equipment to which the charity has restricted title or that are pledged as security for liabilities.
* The "transfers" row is for movements between fixed asset categories.
- ** Please indicate the method of depreciation by deleting the method not applicable (SL = straight
www.chilternmusicacademy.org Registered charity number:1158146
Financial Statements Year Ended 31 August 2023
Section C Notes to the accounts
Note 15 Intangible assets Please complete this note if the charity has any intangible assets
15.1 Cost or valuation
| Research & development £ |
Research & development £ |
Patents and trademarks £ |
Other £ |
Other £ |
Total £ |
Total £ |
||||
|---|---|---|---|---|---|---|---|---|---|---|
| At beginning of | the | - | - | - | - | |||||
| year | ||||||||||
| Additions | - | - | - | - | ||||||
| Disposals | - | - | - | - | ||||||
| Revaluations | - | - | - | - | ||||||
| Transfers * | - | - | - | - | ||||||
| At end of the year | - | - | - | - | ||||||
| 15.2 Amortisation and | impairments | |||||||||
| **Basis | SL or RB | SL or RB | SL or RB | SL or RB | Straight Line ("SL") or Reducing Balance ("RB") |
|||||
| ** Rate | ||||||||||
| At beginning of | the | - | - | - | - | |||||
| year | ||||||||||
| Disposals | - | - | - | - | ||||||
| Amortisation | - | - | - | - | ||||||
| Impairment | - | - | - | - | ||||||
| Transfers* | - | - | - | - | ||||||
| At end of year | - | - | - | - | ||||||
| 15.3 Net book | value | |||||||||
| Nat book value | at the | - | - | - | - | |||||
| beginning of the year | ||||||||||
| Net book value | at the | - | - | - | - | |||||
| end of the year |
www.chilternmusicacademy.org Registered charity number:1158146
Financial Statements Year Ended 31 August 2023
15.4 Accounting policy
Please disclose the accounting policy for intangible fixed assets including:
Reasons for choosing amortisation rates Policies for the recognition of any capital development
15.5 Impairment
Please provide a description of the events and circumstances that led to the recognition or reversal of an impairment loss.
15.6 Revaluation
If an accounting policy of revaluation is adopted, please provide:
the effective date of the revaluation
the name of independent valuer, if applicable
the methods applied
the carrying amount that would have been recognised had the assets been carried under the cost model.
15.7 Other disclosures (i) If your intangible asset was acquired by way of grant, provide value on initial recognition and carrying amount of the asset.
(ii) Details of the carrying amounts of any intangible assets to which the charity has restricted title or that are pledged as security for liabilities.
(iii) Please provide the amount of contractual commitments for the acquisition of intangible assets. (iv) State the amount of research and development expenditure recognised as expenditure in the year.
(vi) Please detail the headings in the SOFA in which a charge for amortisation of intangible assets is included. (vii) For any material intangible assets, please provide a description, its carrying amount and any remaining amortisation period.
* The "transfers" row is for movements between fixed asset categories.
** Please indicate the method of depreciation by deleting the method not applicable (SL = straight line; RB = reducing balance). Also please indicate the rate of depreciation: for straight line, what is the anticipated life of the asset (in years); for reducing balance, what is the percentage annual d d ti
www.chilternmusicacademy.org Registered charity number:1158146
Financial Statements Year Ended 31 August 2023
Section C Notes to the accounts (cont)
Note 16 Heritage assets Please complete this note if the charity has heritage assets
16.1 General disclosures for all charities holding heritage assets
(i) Explain the nature and scale of heritage assets held. (ii) Explain the policy for the acquisition, preservation, management and disposal of heritage assets.
| At beginning of the year Additions Disposals Revaluations Transfers At end of the year Basis* Rate At beginning of the year Disposals Depreciation Impairment Transfers At end of year Nat book value at the beginning of the year Net book value at the end of the year 16.5 Impairment Please provide a description of the ev that led to the recognition or reversal 16.3 Depreciation and impairments 16.4 Net book value 16.2 Cost or valuation* |
Heritage asset 1 Heritage asset 2 £ £ - - - - - - - - - - |
Heritage asset 3 Heritage asset 4 Total £ £ £ - - - - - - - - - - - - - - - - - - Straight Line ("SL") or Reducing Balance - - - - - - - - - - - - - - - - - - - - - - - - |
|---|---|---|
| - - | ||
- - - - - - - - - - |
||
| - - | ||
| - - - - |
||
| ents and circumstances of an impairment loss. |
16.6 Revaluation If an accounting policy of revaluation is adopted, please provide: the effective date of the revaluation the name of independent valuer, if applicable qualifications of independent valuer the methods applied and significant assumptions any significant limitations on the valuation
www.chilternmusicacademy.org Registered charity number:1158146
Financial Statements Year Ended 31 August 2023
16.7 Analysis of heritage assets by class or group distinguishing those at cost and those at valuation
| Carrying amount at the beginning of the period Additions Disposals Depreciation/impairment Revaluation Carrying amount at the end of period |
At valuation Group A At cost Group B Total £ £ £ - - - - - - - - - - - - - - - |
|---|---|
| - - - |
16.8 Heritage assets (where heritage assets are not recoignised on the balance sheet)
(i) Explain the reason why heritage assets have not been recognised on the balance sheet. (ii) Describe the significance and nature of heritage assets.
(iii) Disclose information that is helpful in assessing the value of heritage assets. (iv) Explain the reason why it is not practicable to obtain a valuation of heritage assets.
16.9 Five year summary of heritage assets transactions
| 2015 2014 2013 2012 2011 £ £ £ £ £ |
|
|---|---|
| Purchases Group A Group B Group C Other Donations Group A Group B Group C Other Total additions Charge for impairment Group A Group B Group C Other Total charge for impairment Disposals Group A - carrying amount Group B - carrying amount Group C Other Total disposals |
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - |
www.chilternmusicacademy.org Registered charity number:1158146
Financial Statements Year Ended 31 August 2023
Section C Notes to the accounts (cont)
Note 17 Investment assets
Please complete this note if the charity has any investment assets.
17.1 Fixed assets investments (please provide for each class of investment)
| Carrying (fair) value at beginning of period Add:additions to investments during period Less:disposals at carrying value Less: impairments Add: Reversal of impairments Add/(deduct):transfer in/(out) in the period Add/(deduct):*net gain/(loss) on revaluation Carrying (fair) value at end of year |
Cash & cash equivalents Listed investments Investment properties Social investments Other Total - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - |
|---|---|
| - - - - - - |
*Please specify additions resulting from acquisitions through business combinations, if any.
Please note that Fair Value in this context is the amount for which an asset could be exchanged between knowlegable and willing parties in an arm's length transaction. For traded securities, the fair value is the value of the security quoted on the London Stock Exchange Daily Official List or equivalent. For other assets where there is no market price on a traded market, it is the trustees' or valuers' best estimate of fair value.
17.2 Please provide a breakdown of investments shown above agreeing with the balance sheet row B04 differentiating between those held at fair value and those held at cost less impairment.
| Analysis of investments Cash or cash equivalents Investment properties Other investments Total Social investments Grand total (Fair value at year end+Cost less impairment) Listed investments |
- - - - - - Cost less impairment - - Fair value at year end £ - £ - |
|---|---|
| - - |
17.3 If your charity holds investment properties, please complete the following note:
(i) Explain the methods and significant Not applicable assumptions in determining the fair value of investment property held by the charity (ii) Name or independent valuer, if applicable, Not applicable and relevant qualifications (iii) Provide details of any restrictions on the Not applicable ability to realise investment property or on the remittance of income or disposal proceeds (iv) Explain any contractual obligations for the Not applicable purchase, construction or development of investment property or for repairs, maintenance or enhancements
www.chilternmusicacademy.org Registered charity number:1158146
Financial Statements Year Ended 31 August 2023
17.4 Please provide a breakdown of current asset investments, if applicable, agreeing with the balance sheet.
| Analysis of current asset investments Cash or cash equivalents Investment properties Amount of concessionary loans received (Multiple loans received may be disclosed in aggregate provided that such aggregation does not obsure significant information). For all investments measured at fair value, the basis for determining the value, including any assumptions applied when using a valuation technique. 17.7 Additional information Please provide information about the significance of investments to the charity's financial position or performance eg. terms and conditions of loans or the use of hedging to manage financial risk. Amounts receivable after more than 1 year Amounts payable after more than 1 year Amounts receivable within 1 year Where a charity has provided financial assets as a form of security, the carrying amount of the financial asset pledged as security and the terms and conditions relating to its pledge. Terms and conditions eg interest rate, security provided Value of any concessionary loans which have been committed but not taken up at the reporting date Amounts payable within 1 year Social investments 17.5 Guarantees Listed investments Please provide details and amount of any guarantee made to or on behalf of a third party Name of the entity or entities benefitting from those guarantees Please explain how the guarantee furthers the charity's aims 17.6 Concessionary loans Amount of concessionary loans made (Multiple loans made may be disclosed in aggregate provided that such aggregation does not obsure significant information ). Other investments Total |
- Description None Not applicable Total - None None Las Description None £ - This year None None Not applicable Not applicable - - - Total |
- Las £ - This year - - - |
This year £ Last year £ This year £ Last year £ t year £ - - - - - - |
|---|---|---|---|
| - |
www.chilternmusicacademy.org Registered charity number:1158146
Financial Statements Year Ended 31 August 2023
Section C Notes to the accounts (cont)
Note 18 Stocks
Please complete this note if the charity holds any stock items
18.1 Please state the carrying amount of stock and work in progress analysed between activities.
| Charitable activities: Opening Added in period Expensed in period Impaired Closing Other trading activities: Opening Added in period Expensed in period Impaired Closing Other: Opening Added in period Expensed in period Impaired Closing Total this year Total previous year |
For distribution For resale £ £ - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - Stock |
For distribution For resale £ £ - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - Stock |
For distribution For resale £ £ £ - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - Work in progress Donated goods |
|---|---|---|---|
| - | - | - - - |
|
| - | - | - - - |
18.2 Please specify the carrying amount of any stocks pledged as security for liabilities
None
www.chilternmusicacademy.org Registered charity number:1158146
Financial Statements Year Ended 31 August 2023
Section C Notes to the accounts (cont)
Note 19 Debtors and prepayments
Please complete this note if the charity has any debtors or prepayments.
| Please complete this note if the charity has any debtors or prepayments. Note 19 Debtors and prepayments |
|
|---|---|
| 19.1 Analysis of debtors Trade debtors Prepayments and accrued income Other debtors Total |
This year Last year £ £ 100 - - 7,000 - |
| 100 7,000 |
Please complete 19.2 where a material debtor is recoverable more than a year after the reporting date.
19.2 Analysis of debtors recoverable in more than 1 year (included in debtors above)
| Trade debtors Prepayments and accrued income Other debtors Total |
This year Last year £ £ - - - - - - - - |
|---|---|
| - - |
www.chilternmusicacademy.org Registered charity number:1158146
Financial Statements Year Ended 31 August 2023
Section C Notes to the accounts (cont)
Note 20 Creditors and accruals
Please complete this note if the charity has any creditors or accruals.
20.1 Analysis of creditors
| Accruals for grants payable Bank loans and overdrafts Trade creditors Payments received on account for contracts or performance-related grants Accruals and deferred income Taxation and social security Other creditors Total |
This year Last year This year Last year £ £ £ £ - - - - - - - - 4,537 3,256 - - - - - - 2,559 10,331 - - - - - - - - - - Amounts falling due within one year Amounts falling due after more than one year |
|---|---|
| 7,096 13,587 - - |
20.2 Deferred income
Please complete this note if the charity has deferred income.
Please explain the reasons why income is deferred.
The deferred income is in respect of fees paid in advance of the year end for the Autumn 2023 term
| Movement in deferred income account Balance at the start of the reporting period Amounts added in current period Amounts released to income from previous periods Balance at the end of the reporting period |
This year Last year £ £ 10,331 - 2,559 10,331 (10,331) - |
|---|---|
| 2,559 10,331 |
www.chilternmusicacademy.org Registered charity number:1158146
Financial Statements Year Ended 31 August 2023
Section C Notes to the accounts (cont)
Note 21 Provisions for liabilities and charges
Please complete this note if you have included in charity expenditure any provisions. A provision is made when the charity has a liability of uncertain timing or amount.
21.1 Please provide:
- a brief description of any obligations on the balance sheet and the expected amount and timing of resulting payments; - an indication of the uncertainties about the amount or timing of those outflows; and - the amount of any expected reimbursement, stating the amount of any asset that has been recognised for that expected reimbursement.
21.2 Movements in recognised provisions and funding commitment during the period
----- Start of picture text -----
This year Last year
£ £
Balance at the start of the reporting period 60,350 -
Amounts added in current period 60,221 60,350
Amounts charged against the provision in the current period (28,571) -
Unused amounts reversed during the period - -
Balance at the end of the reporting period 92,000 60,350
----- End of picture text -----
21.3 For any funding commitment that is not recognised as a liability or provision, provide details of commitment made, the time frame of that commitment, any performance-related conditions and details of how the commitment will be funded (with contracts for capital expenditure separately identified).
21.4 Where unrestricted funds have been designated to a fund commitment, please disclose the nature of any amounts designated and the likely timing of that expenditure.
The designated funds are held in respect of the Trustees reserve policy of holding 1 terms necessary outgoings as reserves. Additionally the Trustees recognised that 2023-24 would see a significant increase due to expected increase in staff costs and costs of 10 year celebrations
www.chilternmusicacademy.org Registered charity number:1158146
Financial Statements Year Ended 31 August 2023
Section C Notes to the accounts (cont)
Note 22 Other disclosures for debtors, creditors and other basic financial instruments
22.1 Please provide information about the significance of financial instruments (eg. debtors, creditors, investments etc) to the charity's financial position or performance, for example, the terms and conditions of loans or the use of hedging to manage financial risk. 22.2 If the charity has provided financial assets as a form of security, the carrying amount of the financial assets pledged as security and the terms and conitions related to its pledge should be given here.
www.chilternmusicacademy.org Registered charity number:1158146
Financial Statements Year Ended 31 August 2023
Section C Notes to the accounts (cont)
Note 23 Contingent liabilities and contingent assets
23.1 Contingent liabilities
Where the charity has contingent liabililities, please complete the following section unless the possibility of their existence is remote.
----- Start of picture text -----
Description of item including its legal nature. Please Estimate of financial effect
describe any security provided in connection to the
liability.
----- End of picture text -----
23.2 Contingent assets
Where the charity has contingent assets, please complete the following section when their existence is probable
Description of item Estimate of financial effect
23.4 Other disclosures for contingent assets and/or liabilities Please provide the following information where practicable:
Explain any uncertainties relating to the amount or timing of settlement; and the possibilty of any reimbursement Where it is not practical to make one or more of these disclosures, please state this fact
www.chilternmusicacademy.org Registered charity number:1158146
Financial Statements Year Ended 31 August 2023
Section C Notes to the accounts (cont)
Note 24 Cash at bank and in hand
| Note 24 Cash at bank and in hand | |
|---|---|
| Other Cash at bank and on hand Total Short term cash investments (less than 3 months maturity date) Short term deposits |
This year Last year £ £ - - - - 174,644 130,063 - - |
| 174,644 130,063 |
www.chilternmusicacademy.org Registered charity number:1158146
Financial Statements Year Ended 31 August 2023
Section C Notes to the accounts (cont)
Note 25 Fair value of assets and liabilities
25.1 Please provide details of the charity's exposure to credit risk (the risk of incurring a loss due to a debtor not paying what is owed) , liquidity risk (the risk of not being able to meet short term financial demands) and market risk (the risk that the value of an investment will fall due to changes in the market) arising from financial instruments to which the charity is exposed at the end of the reporting period and explain how the charity manages those risks.
There is not considered to be any material credit risk arising from non payment by debtors. Currently cash at bank is at a level that is mainly covered by the Financial Services Deposit protection scheme, Cash is maintained at a sufficient level to ensure that any liquidity risk is minimised.
25.2 Please give details of the amount of change in the fair value of basic financial instruments (debtors, creditors, investments (see section 11, FRS 102 SORP)) measured at fair value through the SoFA that is attributable to changes in credit risk.
None
www.chilternmusicacademy.org Registered charity number:1158146
Financial Statements Year Ended 31 August 2023
Section C Notes to the accounts (cont)
Note 26 Events after the end of the reporting period
Please complete this note events (not requiring adjustment to the accounts) have occurred after the end of the reporting period but before the accounts are authorised which relate to conditions that arose after the end of the reporting period.
Please provide details of the nature of the event
Provide an estimate of the financial effect of the event or a statement that such an estimate cannot be made
www.chilternmusicacademy.org Registered charity number:1158146
Financial Statements Year Ended 31 August 2023
Section C Notes to the accounts (cont)
Note 27 Charity funds
27.1 Details of material funds held and movements during the CURRENT reporting period
Please give details of the movements of material individual funds in the reporting period together with a balancing figure for 'Other funds'. The 'Total funds' figure below should reconcile to 'Total funds' in the blanace sheet.
* Key: PE - permanent endowment funds; EE - expendible endowment funds; R - restricted income funds, including special trusts, of the charity; and U - unrestricted funds
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Fund Fund
balances balances
Type PE, EE R or UR * Purpose and Restrictions brought Gains and carried
forward Income Expenditure Transfers losses forward
Fund names £ £ £ £ £ £
8,528 1,005 (5,166) 4,368
Sing & String R Sing & String pilot programme
Support of Junior programme & senior
Specific Areas ie Junior/Senior R activities 16,952 1,000 (2,579) 15,373
Instrument Funds R Funds towards purchase of instruments 1,180 1,000 2,180
Funding towards Outreach projects such as 1,500 700 (1,200) - - 1,000
Outreach R Springers Parties and Big Noise
Bursaries R Bursaries (including Trevor Steventon Memorial Fund) 3,562 (886) - - 2,676
Orchestral Programme R Funding for orchestral programme 5,534 10,000 (3,879) - - 11,656
SCOPS Art Trust - FYF R To fund FYF programme 10,000 10,000 (10,000) 10,000
Designated UR 60,350 (28,571) 60,221 92,000
General UR 19,432 236,929 (167,744) (60,221) 28,396
Other funds N/a - -
Total Funds 123,477 264,196 (220,023) - - 167,649
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www.chilternmusicacademy.org Registered charity number:1158146
Financial Statements Year Ended 31 August 2023
Section C Notes to the accounts (cont)
Note 27 Charity funds (cont)
27.2 Details of material funds held and movements during the PREVIOUS reporting period
Please give details of the movements of material individual funds in the reporting period together with a balancing figure for 'Other funds'. The 'Total funds' figure below should reconcile to 'Total funds' in the blanace sheet.
* Key: PE - permanent endowment funds; EE - expendible endowment funds; R - restricted income funds, including special trusts, of the charity; and U - unrestricted funds
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Fund Fund
balances balances
Type PE, EE R or UR * Purpose and Restrictions brought Gains and carried
forward Income Expenditure Transfers losses forward
Fund names £ £ £ £ £ £
Sing & String R Sing & String pilot programme 6,080 4,692 (2,244) - - 8,528
Support of Junior programme & senior
Specific Areas ie Junior/Senior R activities 15,456 2,000 (504) - - 16,952
Harp Funding R Funds towards purchase of harps 1,180 - - - - 1,180
Funding towards Big Noise 2020,
Big Noise R ostponed until 2023 1,000 - - - - 1,000
Funding towards KS1 event - postponed
Key Stage 1 Party R until 2023 500 - - - - 500
Orchestral Programme R Funding for orchestral programme 10,000 - (4,466) - - 5,534
Bursary R Funding for bursaries for those in need 370 - (370) - - -
String Orchestra R To fund String Orchestra for 1 year 1,000 - (1,000) - - -
SCOPS Art Trust - FYF R To fund FYF programme 10,000 10,000 (10,000) - - 10,000
Cello Replacement R To replace broken cello 300 - (300) - - -
Designated UR - - - 60,350 - 60,350
General UR 46,362 158,662 (125,242) (60,350) - 19,432
Other funds N/a N/a - - - - - -
Total Funds 92,248 175,354 (144,125) - - 123,477
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www.chilternmusicacademy.org Registered charity number:1158146
Financial Statements Year Ended 31 August 2023
Section C Notes to the accounts (cont)
Note 27 Charity funds (cont)
27.3 Transfers between funds
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Reason for transfer and where endowment is converted to Amount
income, legal power for its conversion
Between unrestricted and
restricted funds
Between endowment and
restricted funds
Between endowment and
unrestricted funds
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27.4 Designated funds
Planned use Purpose of the designation Amount
www.chilternmusicacademy.org Registered charity number:1158146
Financial Statements Year Ended 31 August 2023
Section C Notes to the accounts (cont)
Note 28 Transactions with trustees and related parties
If the charity has any transactions with related parties (other than the trustee expenses explained in guidance notes) details of such transactions should be provided in this note. If there are no transactions to report, please enter “True” in the box or "False" if there are transactions to report.
28.1 Trustee remuneration and benefits
None of the trustees have been paid any remuneration or received any other benefits from an employment with their charity or a related entity (True or False)
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TRUE
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In the period the charity has paid trustees remuneration and benefits. Please give the amount of, and legal authority for, any remuneration or other benefits paid to a trustee by the charity or any institution or company connected with it.
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Amounts paid or benefit value
This year Last year
Legal authority (eg Remuneration Pension Redundancy Other TOTAL
Name of trustee order, governing contribution (including
document) loss of
office)/ex
gratia
£ £ £ £
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Please give details of why remuneration or other employment benefits were paid.
Where an ex gratia payment has been made to a trustee, provide an explanation of the nature of the payment.
28.2 Trustees' expenses
If the charity has paid trustees expenses for fulfilling their duties, details of such transactions should be provided in this note. If there are no transactions to report, please enter “True” in the box below. If there are transactions to report, please enter "False".
| Accommodation Other (please specify): Travel £ This year TOTAL No trustee expenses have been incurred (True or False) Type of expenses reimbursed Subsistence |
Last year TRUE £ |
|---|---|
Please provide the number of trustees reimbursed for expenses or who had expenses paid by the charity
www.chilternmusicacademy.org Registered charity number:1158146
Financial Statements Year Ended 31 August 2023
28.3 Transaction(s) with related parties
Please give details of any transaction undertaken by (or on behalf of) the charity in which a related party has a material interest, including where funds have been held as agent for related parties. If there are no such transactions, please enter 'true' in the box provided.
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There have been no related party transactions in the reporting period (True or False) FALSE
Amounts
written off
Name of the trustee Relationship Description of the Balance at Provision for bad
Amount during
or related party to charity transaction(s) period end debts at period end
reporting
period
£ £ £ £
Leading groups and
Wife of a
Kate Cockburn running CMA Sing & 4,076
Trustee
String programme
Leading groups and
Alex King Trustee 8,821
development manager
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In relation to the transactions above, please provide the terms and conditions, including any security and the nature of any payment (consideration) to be provided in settlement.
For any related party, please provide details of any guarantees given or received.
www.chilternmusicacademy.org Registered charity number:1158146
Financial Statements Year Ended 31 August 2023
Section C Notes to the accounts (cont)
Note 29 Additional Disclosures
The following are significant matters which are not covered in other notes and need to be included to provide a proper understanding of the accounts. If there is insufficient room here, please add a separate sheet.
www.chilternmusicacademy.org Registered charity number:1158146