## THE LEICESTER-SHIRE MUSIC ## AND CULTURAL TRUST _Charity Number_ **1163682** Annual Report for the Year ended 5 April 2023 ## The Leicester-Shire Music and Cultural Trust ## Annual Report for the Year ended 5 April 2023 **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)** ## **Introduction** **Bankers: HSBC** ## **10 Market Place, Hinckley, Leicestershire, LE10 1NU** ## **Investments: BM Brooks Macdonald 72, Webeck Street, London, W1G 0AY** This Report covers the period following on from two years after the global covid pandemic. In the UK, schools ran more smoothly after shutdowns and music making and concert preparation has fully opened up. Music in schools was, however, in a difficult situation, with funding stagnant and few funds available for instrumental lessons for young people whose parents are unable to afford them. The trustees feel strongly that music and the arts have suffered as emphasis has been on a more functional curriculum. The trustees started to meet in person as well as via zoom and have continued to seek a way forward to use limited funds effectively. ## **Structure, Governance & Management** There have been no changes to the operation of LMCT over the 2022-23 period, with the Chair continuing as a Member of the local Education Music Hub Executive. The lead or- ganisation 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. No changes have been made in governance during the year ## **Trustees** Trustees have pooled their experiences and concerns and have been actively looking at recruiting more expertise. 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 puts its aims into action, 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 continue to discuss how they might focus efforts with maximum effect. See the section on our future role, below. ## **Achievements and Progress** The Trust has overseen a trial scheme of double bass tuition in a Leicester City School during the year in the hopes of expanding this to other schools and instruments. The trustees were keen to oversee tuition on instruments that are less frequently taught (so called endangered species) and give opportunities to students whose parents could not afford tuition. Initially, this trial worked well, with students well engaged, good attendance at lessons and students performing in concerts. However, following changes in staffing at the school, progress dropped back significantly and the trustees decided to withdraw fur- ther funding. Having learnt from this, the trustees have developed a series of criteria to test out whether future projects should be funded… LMCT will undertake to… - Provide and pay a project manager to liaise with the school/Head of Music and support the project, including assist the Head of Music/Arts with selecting students. - Provide and pay a suitably qualified DBS checked instrumental teacher - Support an appropriate evaluation of the project to ensure good standards and with a view to writing a case study, that might be used to support grant applications to run further similar courses and progression courses. The School will undertake to…. - Ensure the commitment of the Headteacher and particularly the Head of Music/ Arts to the project - Work with the Project Manager to select students, engage with parents and enlist the support of parents, to include on-going comms with home - Encourage the students in their project - Provide a safe place of storage for instruments - Provide a suitable room for the instrumental lessons, subsequent rehearsals etc. - Enable students parallel opportunities to listen to or participate in music, - Share in the evaluation of the project feeding into case studies, taking videos and allowing pupil voice. During 2023-24, it is intended to commission future projects using these criteria. ## **The 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. To this end the trustees have re-endorsed the following position statement, which it is hoped will also support future fundraising…. ## **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**_ ## **Financial Issues** No further investments have been made, the trustees believing that there are sufficient operational sums in the current account to finance an experimental level of activity over the next few years. It is also anticipated that investments will start to make a helpful return to finance more activity in future years. 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. It is hoped that the Trust might form some form of partnership with Leicestershire Music in the next few years so that a fundraising scheme can be developed through alumni of the Leicestershire Schools Symphony Orchestra. ## **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 and identifies risks, monitoring these closely when they arise - makes conservative and prudent decisions when considering financial and other areas of risk ## **Public Beneft** 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 in the medium to long term. Thus the Charity’s funds are well protected and can grow for future benefits, despite the continuing current global financial issues. ## **Accounts 2022-2023** The trustees have spent considerable time preparing the accounts for this period and have checked them for accuracy to the best of their ability. The trustees are confident that the Trust’s new book keeper has income and expenditure under full control. **On behalf of the Trustees:** **Mike Griffiths, Chair** **Mike Staunton, Treasurer** **January 2024** **For the year 06/04/2022 To 05/04/2023** ## **Income and Expenditure Account for The Leicester-Shire Music and Cultural Trust** |Income and Expenditure||||||| |---|---|---|---|---|---|---| |**Income**|**Unrestricted Funds**
**to the nearest £**|**Investments cash**
**holdings to the**
**nearest £**|**Restricted Funds to**
**the nearest £**|**Endowment Funds**
**to the nearest £**|**Total Funds to the**
**nearest £**
2,172
2,657
**4,829**
57,850
**57,850**
**62,679**
2,065
3,003
2,018
**7,086**
55,513
**55,513**
**62,599**
**80**
49,827
**49,907**|**Last Year to the**
**nearest £**| |Donations|2,172||||2,172|7,058| |Grants||||||| |Gift Aid||||||408| |Subscription Fees||||||| |Bank Interest||||||| |Other Receipts||||||1,258| |Investment Income(dividends etc.)||2,657|||2,657|2,479| |**Sub total**
**Asset and Investment Sales**|**2,172**|**2,657**|**0**|**0**|**4,829**|**11,202**| |||||||| |Investments Sold||57,850|||57,850|37,588| |Loss on Disposal of Investments||||||| |**Sub total**
**Total Receipts**
**Expenditure**|**0**|**57,850**|**0**|**0**|**57,850**|**37,588**| |||||||| ||**2,172**|**60,507**|**0**|**0**|**62,679**|**48,790**| |||||||| |Courses||||||| |Investments||||||| |Activities||||||| |Transport||||||| |Grant Payment(Pupil)||||||| |Conductors||||||| |Sectional Coaching||||||| |Teaching|2,065||||2,065|2,340| |Tour||||||| |Venue Hire||||||| |Audition Expense||||||| |Concert Expenditure||||||| |RunningCosts|3,003||||3,003|1,242| |Other||||||| |Investment Charges||2,018|||2,018|3,250| |||||||| |**Sub total**
**Asset and Investment Purchases**|**5,068**|**2,018**|**0**|**0**|**7,086**|**6,831**| |||||||| |Investments Purchased||55,513|||55,513|66,169| |||||||| |**Sub total**
**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**|**0**|**55,513**|**0**|**0**|**55,513**|**66,169**| |||||||| ||**5,068**|**57,531**|**0**|**0**|**62,599**|**73,000**| |||||||| ||**-2,896**|**2,976**|**0**|**0**|**80**|**-24,210**| |||||||| |||-1||||| ||**42,303**|**7,524**|||49,827|**73,116**| ||**39,407**|**10,499**|**0**|**0**|**49,907**|**48,906**| |||||||| |**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**
141,399
0
133,975
**-7,424**|||**Organizations**
**-10,320**|| ||**-2,896**|**-7,424**|||**-10,320**|| |||||||| |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 £**
0
0
**0**
**0**
**0**
**0**
**0**
Date of Signature|**Endowment Funds**
**to nearest £**| ||**HSBC - 61813757**|||39,407|0|0| ||**Brooks & Macdonald**|||10,499|0|0| ||||**Total Cash Funds**|**49,905**|**0**|**0**| |||||||| ||**Debtors**|||**0**|**0**|**0**| |||||||| ||**Investments**|||**123,476**|**0**|**0**| |||||||| ||**Creditors**|||**0**|**0**|**0**| ||**03/04/2023**
Signature||Print Name|||| |||||**173,382**|**0**|**0**| |||||||| ||||M T Staunton|||| |||||||| ||||M J Griffiths|||| ||||||||