## **Charity Number: 1163682**
**The Leicester-Shire Music and Cultural Trust**
**Annual Report for the Year ended 5 April 2021**
**The Leicester-Shire Music and Cultural Trust** _Charity Number_ **1163682**
_Name by which the Charity is also known_ **LMCT**
## _**Trustees**_
**Dr Mike Griffiths Mr Mike Staunton Mr Phil Iley**
_Accountant Advice_ **John C Carr ACMA, CGMA**
_Bankers_ **HSBC 10 Market Place, Hinckley, Leicestershire, LE10 1NU**
_Investment Advice_ **BM Brooks Macdonald**
## **72, Webeck Street, London, W1G 0AY**
## **Introduction**
The period covered by this report corresponds almost exactly with the first 12 months of the global covid pandemic. In the UK, the first lockdown started in March 2020 and during much of this period, socialisation was not possible; schools were closed to all except vulnerable students and children of essential workers and communal music making was not allowed. The three trustees in post at the start of the year agreed that it would not be possible to meet easily or to carry out our objects in relation to music and a note on our website was posted indicating we would not be accepting applications for grants for the foreseeable future. The trustees were unable to meet in person, but kept in electronic contact.
## **Leicester-Shire Music and Cultural Trust and Coronavirus – website announcement**
As a small Charity, the Trustees regret to inform our friends and interested parents and musicians that we are unable to accept new enquiries about activities and grants at the present time.
There is **no intention that we shall stop our work in future** but with most educational and all concert related activities now going on virtually, the Trustees do not have appropriate capacity or expertise to support this work currently.
Should you need to get in touch or have suggestions about future work, please email leicsmct@gmail.com and we shall endeavour to get back to you and be of some help.
If you are interested in our work, particularly in supporting or joining our Trustees, please get in touch!
## **Structure, Governance & Management**
There have been no changes over the 2019-20 period, with the Chair continuing as a Member of the local Education Music Hub Executive. The trustees were able to keep a close eye on the musical landscape available for young people - sadly, very little was happening.
## **Governing Document**
The Charity is constituted as a Charitable Incorporated Organisation (CIO) and is governed under its Constitution, dated 22 September 2015.
## **Appointment of Trustees**
New Trustees are appointed by those already in situ. No new trustees were appointed during the year but a search was instigated in March 2021 with a view to recruiting more trustees as covid restrictions were beginning to ease.
## **Trustees**
The trustees received no remuneration or benefits for their contributions to the Trust.
## **Charitable Objects and Activities**
The Charity Aims to:
- Advance education in music and the arts. for the benefit of the public of Leicester City, Leicestershire and elsewhere
- Advance the arts particularly, but not wholly, by promoting and facilitating access to and performance of music and other art forms
- Help young people, especially but not exclusively, through leisure time activities, so as to develop their capabilities that they may grow to full maturity as individuals and members of society.
The Trust aims to achieve, primarily, by supporting children and young people in learning to play musical instruments and to sing and to take part in ensembles and concerts.
## **Achievements and Overview**
It is with great regret that the trustees report that there has been no funded activity during this 12 month period, with most schools being closed for in-person lessons during this time, and musical activity being severely limited.
## **Future Role of the Trust**
At the end of the year, the trustees met and it was agreed we needed to focus on young people from disadvantaged backgrounds to give them genuine opportunities in music. We are interested in funding a successor to the Awards for Young
Musicians/Endangered species and we await feedback from LeicesterShire Music about a double bass endangered species programme at New College, Leicester. We would be interested in working with LeicesterShire Music to engage with a fundraiser working on a ‘no grant no fee’ basis to help to fund this work.
## **Finance Issues**
Following the decision in 2019-20, to place more money into investments, it was agreed to invest a further £30,000 to gain more endowment income to fund future activity.
The Trustees appreciate the financial support and gifts from sponsors and donors, some of whom benefited from Local Authority sponsored tuition when they were taking music lessons as students in the past.
## **Risk Management**
LMCT continues to be a Charitable Incorporated Organisation, with Trustees who are volunteers with a passion for musical education. The Trustees have a risk management policy which:
- involves an open and receptive approach to solving risk problems
- gives clear policies, guidelines and support to volunteers
- identifies risks and monitors these closely when they arise
- makes conservative and prudent decisions when considering financial and other areas of risk
## **Public Benefit**
There have been no changes made to the Charity’s aims and objectives in its constitution and the Trustees confirm that they comply with guidance on public benefit published by the Charity Commission when planning and carrying out activities.
## **Investment Policy**
Under the constitution, the Trustees have unrestricted powers of investment and are empowered to invest in a wide range of investments.
The Trustees consider that the funds they are using, invested through Brooks Macdonald, are medium to low risk and are soundly based in government securities and blue-chip stocks that will provide income and longer term capital growth. Thus the Charity’s funds are well protected and can grow for future benefits.
## **On behalf of the Trustees:**
## **Mike Griffiths, Chair**
## **Mike Staunton, Treasurer**
## **January 2022**
## **Income and Expenditure Account for The Leicester-Shire Music and Cultural Trust**
**----- Start of picture text -----**
For the year 06/04/2020 To 05/04/2021
Income and Expenditure
Unrestricted Funds Investments Restricted Funds Endowment Funds Total Funds Last Year
to the nearest £ to the nearest £ to the nearest £ to the nearest £ to the nearest £ to the nearest £
Income
Donations 2,302 0 2,302 10,202
Grants 0 0 0
Gift Aid 0 0 1,594
Subscription Fees 0 0 26,764
Bank Interest 0 0 0
Other Receipts 418 418 96,759
Investment Income 0 486 486 1,484
Sub total 2,719 486 0 0 3,205 136,802
Asset and Investment Sales 0 3,748 3,748 16,043
Loss on Disposal of Investments 0 0 0
Sub total 0 3,748 0 0 3,748 16,043
Total Receipts 2,719 4,234 0 0 6,954 152,845
Expenditure
Courses 0 0 0
Investments 0 0 0
Activities 0 0 1,000
Transport 0 0 11,290
Grant Payment (Pupil) 0 0 820
Conductors 0 0 17,785
Sectional Coaching 0 0 3,998
Teaching (Pool Tutors) 0 0 29,758
Tour 0 0 0
Venue Hire 0 0 8,075
Audition Expense 0 0 45
Concert Expenditure 0 0 0
Running Costs 1,326 1,326 2,766
Other 122 122 2,584
Investment Charges 461 461 2,979
Sub total 1,448 461 0 0 1,908 81,099
Asset and Investment Purchases
Investments Purchased 3,363 3,363 63,909
0 0
Sub total 0 3,363 0 0 3,363 63,909
Total payments 1,448 3,823 0 0 5,271 145,008
Cash Movement
Net of receipts/(payments) 1,272 411 0 0 1,682 7,837
Debtors 0 0 0 0 0
Creditors 0 0 0 0 0
A5 Transfers between funds 0 0 0 0
A6 Cash funds last year end 65,889 5,545 0 0 71,434 63,597
Cash funds this year end 67,161 5,956 0 0 73,116 71,434
Annual Profit and Loss Statement
Operational Investments Organizations
Gain or (Loss) on Investments
Opening Valuation Security and Cash 96,633
Investment made or withdrawn 0
Closing Valuation Security and Cash 110,954
Gain or (Loss) 1,682 14,321 16,004
Statement of assets and liabilities at the end of the period
Categories Details Unrestricted Funds Restricted Funds Endowment Funds
to nearest £ to nearest £ to nearest £
Cash Funds HSBC - 61813757 67,161 0 0
Brooks & Macdonald 6,876 0 0
Total Cash Funds 74,037 0 0
Other Monetary Assets Debtors 0 0 0
Investment Assets Investments 104,078 0 0
Liabilities Creditors 0 0 0
LMCT Total Assets at:- 5th April 2021 178,115 0 0
Signed by one or Two of the Trustees Signature Print Name Date of Signature
on behalf of all the Trustees M T Staunton
01/20/2022
M J Griffiths
01/20/2022
**----- End of picture text -----**
**----- Start of picture text -----**
£ £ £
06.04.20 - 05.04.21
Receipts Receipts Debtors Income
Unrestricted Donations 2,301.70 0.00 2,301.70
Restricted Donations - 0.00 -
Grants - 0.00 -
Gift Aid - 0.00 -
Subscription Fees - 0.00 -
Bank Interest - 0.00 -
Other Receipts 417.75 0.00 417.75
0.00 -
Total Receipts 2,719.45 - 2,719.45 0.00
Payments Payments Creditors Expenditure
Courses - 0.00 -
Investments - 0.00 -
Activities - 0.00 -
Transport - 0.00 -
Grant Payment (Pupil) - 0.00 -
Conductors - 0.00 -
Sectional Coaching - 0.00 -
Teaching (Pool Tutors) - 0.00 -
Tour - 0.00 -
Venue Hire - 0.00 -
Audition Expense - 0.00 -
Concert Expenditure - 0.00 -
Running Costs 1,325.60 0.00 1,325.60
Other 122.29 0.00 122.29
Total Payments 1,447.89 - 1,447.89 0.00
Transfer to Investmente - 0.00 -
Transfer from Investment
Total Outgoings 1,447.89 - 1,447.89
Net (Receipts)/Payments 1,271.56 0.00 1,271.56
Bank at start of period 65,889.36
Account balance at the end of the period 67,160.92
Debtors and Creditors 0.00
Bank Account balance as at 67,160.92
Difference 0.00
**----- End of picture text -----**
## Investment with Brooks Macdonald
|Investme|nt with Broo|ks Macdon|ald|06/04/20|to|05/04/21|||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
|Period|Portfolio|Investment|Stocks|Stocks|Stocks|Income|Income|Cash|Fees|Proft|T&D Cash|Check Cash|
|||made or|Purchased|Sold|Valuation|Dividend|Equalisation|balance||(Loss)|Movement||
|||(Withdrawn)|||||||||||
|O/B|0041167||||45370.09|||3418.33|||||
||0041168||||44477.33|||2126.53|||||
|Brooks MacDonald OB Variation They|||||||||||||
||0041167||||476.91|||(19.33)|||||
||0041168||||799.67|||(16.53)|||||
||||||91124.00|0.00||5509.00|||0.00||
|1st Qtr|0041167||10328.65|
10581.55|48899.59|235.22|57.66|3742.90|202.00|3854.07|
108.56||
||0041168||10206.84|
11058.09|49060.23|172.43|71.12|3010.77|194.50|5467.14|
727.87||
||||20535.49|
21639.64|97959.82|407.65|128.78|6753.67|396.50|8080.49|
836.43|(0.59)|
|2nd Qtr|0041167||2655.87|
2741.50|48939.86|233.41|13.10|3859.11|215.93|156.48|
(117.20)||
||0041168||3415.40|
3811.04|49335.58|212.09|14.26|3419.14|213.62|683.72|
196.28||
||||6071.27|
6552.54|98275.44|445.50|27.36|7278.25|429.55|840.20|
79.08|0.00|
|3rd Qtr|0041167||5598.75|
5396.25|51250.57|271.33|29.75|3738.70|218.99|2190.30|
(391.74)||
||0041168||4056.98|
3324.08|53317.41|227.38|31.73|2726.54|218.81|3289.23|
(919.98)||
||||9655.73|
8720.33|104567.98|498.71|61.48|6465.24|437.80|5479.53|
(1311.72)|0.00|
|4th Qtr|0041167||1148.93|
1365.21|50673.12|251.89|0.69|3979.49|228.07|5864.19|
(11.10)||
|+ ann Return0041168|||2214.03|
2383.09|53405.22|231.84|1.44|2896.43|232.45|9697.79|
(61.95)||
|||0.00|3362.96|
3748.30|104078.34|483.73|2.13|6875.92|460.52|15561.98|
(73.05)|(956.24)|
|Dividens in|Tax return not Qtr reports||385.34|||485.86||||14321.26|
Proft (loss)||
||0041167||||||||||||
||0041168||||||||||||
## **Receipts**
**----- Start of picture text -----**
Date Payer Reference
06/04/20 Wilson R
15/04/20 John Ayre
15/04/20 Bradley DP
16/04/20 Smith DP
27/04/20 Samson LB
01/05/20 Mark Stoppford Mill
01/05/20 Barker L
01/05/20 Fairhead R
15/05/20 John Ayre
15/05/20 Bradley DP
15/05/20 Smith DP
21/05/20 Amazone Europe Core
26/05/20 Samson LB
01/06/20 Mark Stoppford Mill
01/06/20 Barker L
01/06/20 Fairhead R
15/06/20 John Ayre
15/06/20 Bradley DP
16/06/20 Smith DP
25/06/20 Samson LB
30/06/20 Parent Pay
01/07/20 Mark Stoppford Mill
01/07/20 Barker L
01/07/20 Fairhead R
15/07/20 John Ayre
15/07/20 Bradley DP
16/07/20 Smith DP
27/07/20 Samson LB
03/08/20 Mark Stoppford Mill
03/08/20 Barker L
03/08/20 Fairhead R
17/08/20 John Ayre
17/08/20 Bradley DP
17/08/20 Smith DP
25/08/20 Samson LB
01/09/20 Mark Stoppford Mill
01/09/20 Barker L
01/09/20 Fairhead R
15/09/20 John Ayre
15/09/20 Bradley DP
16/09/20 Smith DP
25/09/20 Samson LB
25/09/20 Mark Stoppford Mill
**----- End of picture text -----**
25/09/20 Barker L 25/09/20 Fairhead R 15/10/20 John Ayre 15/10/20 Bradley DP 16/10/20 Smith DP 26/10/20 Samson LB 02/11/20 Mark Stoppford Mill 02/11/20 Barker L 02/11/20 Fairhead R 16/11/20 John Ayre 16/11/20 Bradley DP 16/11/20 Smith DP 18/11/20 Cash paid in 25/11/20 Samson LB 01/12/20 Parentpay 01/12/20 Mark Stoppford Mill 01/12/20 Barker L 01/12/20 Fairhead R 15/12/20 John Ayre 15/12/20 Bradley DP 16/12/20 Smith DP 29/12/20 Samson LB 01/01/21 Mark Stoppford Mill 01/01/21 Barker L 01/01/21 Fairhead R 15/01/21 John Ayre 15/01/21 Bradley DP 18/01/21 Smith DP 25/01/21 Samson LB 26/01/21 Cherry Br&CA 01/02/21 Millington M 01/02/21 Fairhead R 01/02/21 Baker L 11/02/21 Amazon Europe Core 15/02/21 John Ayre 15/02/21 Bradley DP 16/02/21 Smith DP 25/02/21 Samson LB 01/03/21 Millington M 01/03/21 Baker L 01/03/21 Fairhead R 15/03/21 John Ayre 15/03/21 Bradley DP 16/03/21 Smith DP 25/03/21 Samson LB 01/04/21 Baker L 01/04/21 Millington M 01/04/21 Fairhead R
**----- Start of picture text -----**
Additional Details Type of Income Amount
2719.45
Unrestricted Donations 50.00
Unrestricted Donations 10.00
Unrestricted Donations 20.00
Unrestricted Donations 50.00
Unrestricted Donations 10.00
Unrestricted Donations 10.00
Unrestricted Donations 20.00
Unrestricted Donations 50.00
Unrestricted Donations 10.00
Unrestricted Donations 20.00
Unrestricted Donations 50.00
Unrestricted Donations 5.00
Unrestricted Donations 10.00
Unrestricted Donations 10.00
Unrestricted Donations 20.00
Unrestricted Donations 50.00
Unrestricted Donations 10.00
Unrestricted Donations 20.00
Unrestricted Donations 50.00
Unrestricted Donations 10.00
Unrestricted Donations 100.00
Unrestricted Donations 10.00
Unrestricted Donations 20.00
Unrestricted Donations 50.00
Unrestricted Donations 10.00
Unrestricted Donations 20.00
Unrestricted Donations 50.00
Unrestricted Donations 10.00
Unrestricted Donations 10.00
Unrestricted Donations 20.00
Unrestricted Donations 50.00
Unrestricted Donations 10.00
Unrestricted Donations 20.00
Unrestricted Donations 50.00
Unrestricted Donations 10.00
Unrestricted Donations 10.00
Unrestricted Donations 20.00
Unrestricted Donations 50.00
Unrestricted Donations 10.00
Unrestricted Donations 20.00
Unrestricted Donations 50.00
Unrestricted Donations 10.00
Unrestricted Donations 10.00
**----- End of picture text -----**
**----- Start of picture text -----**
Unrestricted Donations 20.00
Unrestricted Donations 50.00
Unrestricted Donations 10.00
Unrestricted Donations 20.00
Unrestricted Donations 50.00
Unrestricted Donations 10.00
Unrestricted Donations 10.00
Unrestricted Donations 20.00
Unrestricted Donations 50.00
Unrestricted Donations 10.00
Unrestricted Donations 50.00
Unrestricted Donations 20.00
Tuck Shop Other Receipts 417.75
Unrestricted Donations 10.00
Unrestricted Donations 50.00
Unrestricted Donations 10.00
Unrestricted Donations 20.00
Unrestricted Donations 50.00
Unrestricted Donations 10.00
Unrestricted Donations 20.00
Unrestricted Donations 50.00
Unrestricted Donations 10.00
Unrestricted Donations 10.00
Unrestricted Donations 20.00
Unrestricted Donations 50.00
Unrestricted Donations 10.00
Unrestricted Donations 20.00
Unrestricted Donations 50.00
Unrestricted Donations 10.00
Unrestricted Donations 50.00
Unrestricted Donations 10.00
Unrestricted Donations 50.00
Unrestricted Donations 20.00
Unrestricted Donations 6.70
Unrestricted Donations 10.00
Unrestricted Donations 20.00
Unrestricted Donations 50.00
Unrestricted Donations 10.00
Unrestricted Donations 10.00
Unrestricted Donations 20.00
Unrestricted Donations 50.00
Unrestricted Donations 10.00
Unrestricted Donations 20.00
Unrestricted Donations 50.00
Unrestricted Donations 10.00
Unrestricted Donations 20.00
Unrestricted Donations 10.00
Unrestricted Donations 50.00
**----- End of picture text -----**
-1.53
-0.76
||**2719.45**|**0.00**|
|---|---|---|
|Unrestricted Donations|2301.70||
|Restricted Donations|0.00||
|Grants|0.00||
|Gift Aid|0.00||
|Subscription Fees|0.00||
|Bank Interest|0.00||
|Other Receipts|417.75||
Debtors
Date
Payer Reference
dditional Details
pe of Income
**----- Start of picture text -----**
Amount
0
**----- End of picture text -----**
||**0.00**|
|---|---|
|Unrestricted Donations|0.00|
|Restricted Donations|0.00|
|Grants|0.00|
|Bank Interest|0.00|
|Gift Aid|0.00|
|Subscription Fees|0.00|
|Bank Interest|0.00|
|Other Receipts|0.00|
0.00
## **Paymennts**
**----- Start of picture text -----**
Date Supplier Name Expenditure Reference Additional Details Type of Expenditure Amount
£1,447.89 1447.89 £0.00
01/05/20 LCC Customer ACS LCC CustomER ACS PO Box Running Costs £25.00 Courses 0.00
20/06/20 Parent Pay Parent Pay charges Other £1.53 Stationery 0.00
01/07/20 LCC Customer ACS LCC CustomER ACS PO Box Running Costs £50.00 Activities 0.00
03/08/20 LCC Customer ACS LCC CustomER ACS PO Box Running Costs £25.00 Running Costs 1325.60
01/10/20 LCC Customer ACS LCC CustomER ACS PO Box Running Costs £50.00 Investment 0.00
02/11/20 LCC Customer ACS LCC CustomER ACS PO Box Running Costs £25.00 Other 122.29
15/11/20 EASTLAKE INSURANCE LEIC47CL02 Insurance 19/20 Running Costs £539.60 Travel 0.00
01/12/20 LCC Customer ACS LCC CustomER ACS PO Box Running Costs £25.00 Grant Payment (Pupil) 0.00
01/12/20 Parent Pay Parent Pay charges Other £0.76 Conductors 0.00
04/01/21 LCC Customer ACS LCC CustomER ACS PO Box Running Costs £25.00 Sectional Coaching 0.00
05/02/21 LCC Customer ACS LCC CustomER ACS PO Box Running Costs £25.00 Teaching 0.00
22/01/21 Parent Pay Account199901 Fee Other £120.00 Tour 0.00
16/02/21 Cuttlefish Multimedia Ltd Web Site Running Costs £432.00 Concert Expenditure 0.00
16/02/21 Cuttlefish Multimedia Ltd Web Site Running Costs £54.00 Venue Hire 0.00
01/03/21 LCC Customer ACS LCC CustomER ACS PO Box Running Costs £25.00 Audition Expenses 0.00
01/04/21 LCC Customer ACS LCC CustomER ACS PO Box Running Costs £25.00
**----- End of picture text -----**
Creditors
Date
Supplier Name
Expenditure Reference
dditional Details
pe of Expenditure
mount
0.00
||**0.00**|
|---|---|
|Courses|0.00|
|Stationery|0.00|
|Activities|0.00|
|Running Costs|0.00|
|Investment|0.00|
|Other|0.00|
|Travel|0.00|
|Grant Payment (Pupil)|0.00|
|Conductors|0.00|
|Sectional Coaching|0.00|
|Teaching|0.00|
|Tour|0.00|
|Concert Expenditure|0.00|
|Venue Hire|0.00|
|Audition Expenses|0.00|
£0.00