## 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|
|---|---|
Page 1
www.chilternmusicacademy.org Registered charity number:1158146
Report of the Trustees Year Ended 31 August 2023
## REPORT OF THE TRUSTEES
**----- Start of picture text -----**
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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|Page|2|www.chilternmusicacademy.org|
|---|---|---|
|||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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Page 3
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.|
Page 4
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.|
Page 5
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|
|||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_**|
|---|---|
## **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).
**----- Start of picture text -----**
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
|
|---|---|
www.chilternmusicacademy.org Registered charity number:1158146
Financial Statements Year Ended 31 August 2023
**----- Start of picture text -----**
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
**----- 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 3 Analysis of income**
**----- Start of picture text -----**
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)
**----- 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 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**
-
-
**Total**1 -|**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**_
**----- Start of picture text -----**
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
**----- 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 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**_
**----- Start of picture text -----**
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
**----- 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 27 Charity funds (cont)**
## **27.3 Transfers between funds**
**----- Start of picture text -----**
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
**----- End of picture text -----**
## **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)**
**----- Start of picture text -----**
TRUE
**----- End of picture text -----**
_**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.**_
**----- Start of picture text -----**
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
£ £ £ £
**----- End of picture text -----**
_**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.**_
**----- Start of picture text -----**
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
**----- End of picture text -----**
_**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