Charity Number: 1163682
The Leicester-Shire Music and Cultural Trust
Annual Report for the Year ended 5 April 2022
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 Ms Annabel Bannister Mrs Asha Bishop (Chandara)
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
This Report covers almost exactly the second 12 months of the global covid pandemic. In the UK, schools started to run more smoothly after shutdowns and music making and concert preparation gradually opened up again. The trustees continued to meet via zoom and set about looking for more colleagues to gain a greater understanding of needs.
Structure, Governance & Management
There have been no changes to the operation of LMCT over the 2021-22 period, with the Chair continuing as a Member of the local Education Music Hub Executive. The lead organization for the local music hub has been reorganized within Leicestershire County Council and is now known as LeicesterShire Music. LMCT keeps in close touch to understand the musical needs of young people.
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
Two new trustees have been recruited and appointed Mrs Asha Bishop is the Head of Music in a large Leicester City based Roman Catholic Secondary School and provides on the ground experience to the trustees. Ms Annabel Bishop has a broad understanding of the arts in our area and has particular interest in access and special needs
Trustees
The trustees received no remuneration or benefits for their contributions to the Trust.
Charitable Objects and Activities
The Charity Aims to:
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! Advance education in music and the arts. for the benefit of the public of Leicester City, Leicestershire and elsewhere
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! Advance the arts particularly, but not wholly, by promoting and facilitating access to and performance of music and other art forms
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! 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 progress, primarily, by supporting children and young people in learning to play musical instruments and to sing and to take part in ensembles and concerts. Given the large geographical area that LMCT hopes to support and limited funds, the trustees have discussed how they might focus efforts with maximum effect. See the section on our future role, below.
Achievements and Overview
Following discussions with LeicesterShire Music, LMCT has supported the start of a project at New College, Leicester – a school centred in an area of deprivation in the west of the city. 12 year 7 students have started to learn the double bass and have had the experience of playing in an ensemble and hearing live professional musicians for the first time. The trustees will be following this pilot activity closely, with a view to extendind this approach to other instruments and schools.
Future Role of the Trust
The trustees have agreed we needed to focus on young people from disadvantaged backgrounds to give them genuine opportunities in music and we are also interested in funding a successor to the Awards for Young Musicians. To this end our work is clarified by the following statement;
LMCT - What do we stand for?
We wish to….
Inspire every young person in Leicester(shire) to love, sing and play music
In particular, we wish to….
Use our funds and bid for further funds to
support early opportunities to play instruments, especially those learnt less frequently support talented young people to develop their playing further particularly supporting those young people from areas of deprivation
Finance Issues
Following the decision in 2020-2021 to make further investments, the agreed sum of £30,000 was invested early in the financial year in our Brooks MacDonald portfolio.
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. In particular, the Trustees appreciate the bequest of £5,000 following the death of a close supporter of Leicestershire music making.
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:
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! involves an open and receptive approach to solving risk problems
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! gives clear policies, guidelines and support to volunteers
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! identifies risks and monitors these closely when they arise
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! 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, despite the current global financial issues.
Accounts 2021-2022
The trustees have spent considerable time preparing the accounts for this period and have checked them for accuracy to the best of their ability, but following the appointment of a new bookkeeper, we are double checking again and will resubmit should any change be required.
On behalf of the Trustees:
Mike Griffiths, Chair
Mike Staunton, Treasurer
January 2023
Income and Expenditure Account for The Leicester-Shire Music and Cultural Trust
| For the year | 06/04/2021 | To | 05/04/2022 | |||
|---|---|---|---|---|---|---|
| Income and Expenditure | ||||||
| Income | Unrestricted Funds to the nearest £ |
Investments to the nearest £ |
Restricted Funds to the nearest £ |
Endowment Funds to the nearest £ |
Total Funds to the nearest £ |
Last Year to the nearest £ |
| Donations | 7,058 | 0 | 7,058 | 2,302 | ||
| Grants | 0 | 0 | 0 | |||
| Gift Aid | 408 | 408 | 0 | |||
| Subscription Fees | 0 | 0 | 0 | |||
| Bank Interest | 0 | 0 | 0 | |||
| Other Receipts | 1,258 | 1,258 | 418 | |||
| Investment Income | 0 | 2,479 | 2,479 | 486 | ||
| Sub total | 8,723 | 2,479 | 0 | 0 | 11,202 | 3,205 |
| Asset and Investment Sales | 0 | 37,588 | 37,588 | 3,748 | ||
| Loss on Disposal of Investments | 0 | 0 | 0 | |||
| Sub total | 0 | 37,588 | 0 | 0 | 37,588 | 3,748 |
| Total Receipts Expenditure |
||||||
| 8,723 | 40,067 | 0 | 0 | 48,790 | 6,954 | |
| Courses | 0 | 0 | 0 | |||
| Investments | 0 | 0 | 0 | |||
| Activities | 0 | 0 | 0 | |||
| Transport | 0 | 0 | 0 | |||
| Grant Payment(Pupil) | 0 | 0 | 0 | |||
| Conductors | 0 | 0 | 0 | |||
| Sectional Coaching | 0 | 0 | 0 | |||
| Teaching | 2,340 | 2,340 | 0 | |||
| Tour | 0 | 0 | 0 | |||
| Venue Hire | 0 | 0 | 0 | |||
| Audition Expense | 0 | 0 | 0 | |||
| Concert Expenditure | 0 | 0 | 0 | |||
| RunningCosts | 1,242 | 1,242 | 1,326 | |||
| Other | 0 | 0 | 122 | |||
| Investment Charges | 3,250 | 3,250 | 461 | |||
| Sub total | 3,582 | 3,250 | 0 | 0 | 6,831 | 1,908 |
| Asset and Investment Purchases | ||||||
| Investments Purchased | 66,169 | 66,169 | 3,363 | |||
| 0 | 0 | |||||
| Sub total | 0 | 66,169 | 0 | 0 | 66,169 | 3,363 |
| Total payments Cash Movement Net of receipts/(payments) Debtors Creditors A5 Transfers between funds A6 Cash funds last year end Cash funds this year end |
||||||
| 3,582 | 69,419 | 0 | 0 | 73,000 | 5,271 | |
| 5,142 | -29,352 | 0 | 0 | -24,210 | 1,682 | |
| 0 0 |
0 0 |
0 0 |
0 0 |
0 0 |
||
| -30,000 | 30,000 | 0 | 0 | 0 | 0 | |
| 67,161 | 5,956 | 0 | 0 | 73,116 | 71,434 | |
| 42,303 | 6,604 | 0 | 0 | 48,906 | 73,116 | |
| Gain or (Loss) on Investments Opening Valuation Security and Cash Investment made or withdrawn Closing Valuation Security and Cash Gain or(Loss) |
Operational | Annual Profit and Loss Statement Investments 110,954 30,000 148,923 37,969 |
Organizations | |||
| -24,210 | 37,969 | 13,759 | ||||
| Statement of assets and liabilities at the end of the period | ||||||
| Categories Cash Funds Other Monetary Assets Investment Assets Liabilities LMCT Total Assets at:- Signed by one or Two of the Trustees on behalf of all the Trustees |
Details | Unrestricted Funds to nearest £ |
Restricted Funds to nearest £ |
Endowment Funds to nearest £ |
||
| HSBC - 61813757 | 42,303 | 0 | 0 | |||
| Brooks & Macdonald | 7,524 | 0 | 0 | |||
| Total Cash Funds | 49,827 | 0 | 0 | |||
| Debtors | 0 | 0 | 0 | |||
| Investments | 141,399 | 0 | 0 | |||
| Creditors | 0 | 0 | 0 | |||
| 5th April 2022 Signature |
Print Name | |||||
| 191,226 | 0 | 0 | ||||
| Date of Signature | ||||||
| M T Staunton | ||||||
| M J Griffiths | ||||||
1A Station Road Kirby Muxloe Leicester LE9 2EL 0116 2394809 07889 186626 griffkirby@icloud.com
5 February 2023
The Charity Commission
Personal Report to the Trustees of The Leicester-Shire Music and Cultural Trust
I report to the charity trustees on my examination of the income and expenditure accounts of the charity for the year ended 5[th] April 2020.
Responsibilities and repot basis
As the charity’s trustees you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the Act’).
My examination of the charity’s accounts carried out under section 145 of the Act and in carrying out my examination I have followed all the applicable directions given by the Charity Commission under section 145(5)(b) of the Act.
I report that as Chair of the Trustees I am happy with the overall condition of receipts and payments during 2021-22. However, we have changed bookkeepers and the information passed on by our previous examiner appears to have been faulty.
I have only understood this recently. Unfortunately, I have been caught up with a sudden unexpected family bereavement since the 3 January and have been unable to sort this out. I will be back in touch with the commission as soon as possible - I anticipate 10 days.