Charity registsation number 1165778 (England and Wales) Cotnpan). registraiion number 09947772 HOUNSLOW MUSIC SERVICE Annual report and financial statements For the )"ear ended 31 March 2025
HOUNSLOW MUSIC SERVICE LEGAL AIYD ADMINISTRATIVE INFORMATION Board Of Truslee5 OMBanv C W, Hill C P Saliers Dr P K Basra T G F S)'Ivesitt D F S Rogers D B Me)er S Chaudharj. (Apw)inied 26 September 20241 Charitv number 1165778 Company number 09947772 Principal address 64A Pears Road Hounslom. London T,3 ISR Rtgi5tered offi¢¢ (AA Pears Road Hounslow London TW3 ISR Auditor 'SM Advisors Limited Connect House lJ3-137 Alexandrd Road London SW19 7JY Bankers Barclajs Bank plc
HOUNSLOW MUSIC SERVICE CONTENTS Page Trustees, report Staiemeni of TnJ5tees' responsibilities Independent audito¢s rert Staiement o( fancIal activities Balance sheet 12 Siatemeni of cash flom's 13 Nole5 to the accounts 14-27
HOUNSLOW MUSIC SERVICE TRUSTEES, REPORT (INCLUDING DIREcfoRS' REPORT) Forthe vearended 31 mAh 202$ The trustees. ii'ho are also the dirertOTS of the chority lor the 1[pose5 of the Companies Act 2006, present their rew)rt iiiih the financial 5taiemenls of the charit). for the )'¢ar ended 31 March 2025 The truslees have adopted the proiisions of Accounling and RetM)rting b). Charities. Siaiemeni of Recommended Praclice applicable to charities prcparino their accounts in accordance iviih the Financial R¢poning Swidard aN)liobk in the UK and Republic of Ireland IFRS 102) (effecii%'e l Januar). 2015). The accounts have been prepared in accordance Ihe accouniing wlicies set oul in note 2 to ihe accounts and ¢ompl}' M'iih the chatÈtable cotnpan)'5 Tnetnordndum and articles. Ehe Companie5 Act 2006 and -A¢counting and Reponing bi. Charities." Statement of Recornmended Practice applicable to clLin"ties preparing iheir accounts in accordance iviih iht Financial Reportin(p Standard applicable in the UK and Replblic ol brland IFRS 102)" (as amended for accounlin - petiods cornmencinu fron] l JaThuar)' 2016}. Our Purpose and Activities The compan) s charitable objects are se¢ out in its Memordndum and ArticlcsofAssociation. The principal objeciiv¢ of the compan). is lo provide the highesi qualiry musical opportunities for chiklren. s'oung pei>ple and oihers in and around the London Borough of Hounsloiv. Our mission is to encoura¥e panicipalion: enjoj'meni and achievement by providing the highest quality. learning opportunities in music and ihe perfomiing ans. HOUNSLOW MUSIC SERVICE {HMS}ACHIEVEMENTS 2024r25 The Year in Numbers Hollnsloiv schools where HMS delivered th¢ Naiional Plan for Music Educaln Priiiiar). Schools IOOO/• Secondary SLhools SpeLial SLhools Schools ,here HMS supported singing Number of pupils in Firsl Access Number of pupils continuing Toial Pllpils talight iieekl!. by HMS PME l(K)Y iiNr/• 4.860 .672 6.534 First Acce55 to music Although the ne. NPME no loneer has core and eXtelon roles. HMS continues to delivei y'hole class instrumental piogrammes in schools. Most schools M"ho had had ivoo(hi"rn(L bras5 or Strin(i ill$trucntal pro£rarnmes pre-pandemic have rerned io ihese. Hoii'e%'er. the declininu school population- cotning aftei alrnost a decade of increased numbcr5 in schools- is creaiing significant budget pressures for schools. Whilst tnost 5chooJs have chosen to continue ivith iiliole c[S programmes. il'e are aii.are schools. abilit). to pa>. for this prJa[nIne is at risk_ The TunelN programme a$ del'ised in response to primar%. 5chi)015 asking u5 to deliver the music c1¢U1VM either alongside or instead ol'their Class ¢eachers and continues io be Yer). popular. Children learn io pla}. insiruments as part of ihis programme, bill the instnimenis are less complei. and the focus is the dei'elopmeni of musical skills rather ihan technical sk'ills. These miiSi¢1£15kills Crea a foundation on ii.hich children can wogress to leaming a niore complex musiLal instrument ivhen the!" leel read}. This is a grO1h area for us althouoh ensuring li'e have ihe riohi ieaLhers io do this i¥ork is not ea5I'. Man!. teachers jusl 'anl lo teach 1=1 les50n5 ond are less interested in M'hole class teaching because it 15 a lot harder. Contlllllation bei'ond first a¢ce55 Ilntil ?O?O, cotilinuation li.as an identified sirengih of HMS 1th numkrs tInUIng beyond first access 5ignifLcantly above national ai'eTages. This dropped signifi¢anili' across 2021:'?2. The lack of in person leacliing. perforn)ances iihin schools and eiira prtsjecis.%eiereli' affected uptake. Although ihe number of children i1.lling to continue has risen, Ihe cosi-of-livin¥ crisis and ihe squeeze on school funding has a(fecied uptake. The number of children ii'ho vant ro Coniinue is ti5inu. but their abilin. to pay is a barrier. This is a Ke>. ara where more fidIng is needed to support hatd pressed fatnilies.
HOUNSLOW MUSIC SERVICE
TRUSTEES, REPORT (CONTINUED)(Ii¥CLUDING DIRECTORS. REPORT)
For the vear ended 31 March 2024
Musit CeDtres, S¢hools and Afadeffly
Saturda}, Music Academi, numbers have stabilised durin 20?4125. i¥iih severnl The. teachers joining enabling us to
respond to ivaiting lists. Recruiting and retaining iea¢hers coniinues io be a Challenge. A few secondar%' scliools are
ow running complllsory. Sanbnla}' progra¥nme5 for GCSE pupils. so we losesome pupils through this.
Ensemble membership is again under pressure due to exiended school hours_ rhe nurnberof Children continuing wilh
insirumenlal tllltion after ivhole class programmes has a direct impact on ensemble membership, so there is a new
straie¥J io encuurage mole children to ¢oniinue io pla!. be)'ond first access. The challenge ofen¢oura¥ing more
Lhildren lo join ensetnble5 is noiv ciM)mon acn)ss man!. par15 of London. Tr impact ofschools extendin¥ the school
da}. and more children having tutoring io prepare for applications to grammaT schools, cannot be oversthied.
Ex#mirt#tions
We ran tilo eKamination centres ill ?024n5. in Febwary haIlmi aJ)d in Juty. for th Trinity and The Associated
Board of ihe Rol'al SLhoo15 of Music IABRSMI examinaiions. A iothl of 154 pupils i
HOUNSLOW MUSIC SERVICE TRUSTEES, REPORT (CONTINUED)(ll¥CLUDING DIRECTORS, REPORT) Forthe Trear ended 31 hlareb 2025 Bur5#ries and scholarships The Saturda}" Music Academv flagship programme is ihe Special Award. M'here a SpOKe progrdmme of activities is creaied io piovide keen musician5 W'ith a holisiic music education. Young musicians ivho show. a irack record of ommitmenl and pro£res5 on an instrument are ¢ligible io appl%'. regardless of age. Cruciall). the progratnrne 15 heavil}, subsidised lo make it aflordable and ensure that finance is noi a batTier io prws in the borough. Pupils in receipi of the special Aw"ard sinu in a choir, attend theor)., have a lesson and are membffs of ensembles. The IIMS Subsidy is almosi £18,000 pei annum. London Music Fund (LMF) Loniinues io profv'ide funding for Scholars and awarthd scholarships ¢0 a neiv cohort in 2024. In HouThslOi, every. LMF scholar is joined bs. another child to share their lesson. and this is knoivn as our Shadow Scholar scheme. We have found thai children i%.ho Share Iheii lessons in ihe earl). stages of leorning are mor¢ likel}. lo rontiniie io plav iheir insirumenL particularly ifihe paired scholars JJY from the same school %hadoiv Scholars are chosen from those students ii'ho ho%'e finished a vear of Firsi Ac¢es&iTuneln i¥ithin iheir primary school and are keen to continue. Tliest children share an insuumental lesson ii'ith the LMF scholars and avail of the w'ider Special Aw'ard programm¢. HMS also tops up the LMF scholarship. The cosi 10 HMS of th¢s¢ two progrdmmes is just under £19.000 per ltiuM. HMS has also created a bursary ld to support these programmes and help rnany children as possible to reach their musiLal polenlial. Children froin these programmes have gone on io srudN' music al some of the country'5 niost PTe51igTlOUS instiiutions. including the Yehudi Menuhin and Purcell SCialiSt UsiC schools, London Conservaloires and ihe music depanments of the UniN'ersities of Oxford aDd Cambridge_ Piiblic benefit -I'he Trusiees confum thar, in detemiining rhe aclivities undenaken by HMS, they have had due regard to the public benefit requirement. and ihe guidance publtshed b!" the Charin. Cornmi55ion. We have rei'ieii'ed all OUT programme5 againsi the public benefii requiremenr and ¢onfimied thai all activiiies ive in%'esi in delii'er public benefiL in the forn) of ad%'anLing education and ihe ans or increasing access io music-maK'ing from under-represenied groups u'ithin the Borough of IIout]sloii'. Anv pri&'aie benefit- for example for indii'iduals benefiting from our bursan. scheme- is incidental io the i%"ider public benefit of remoN'ints bTlerS to accessing music All nJv projects and PTograThmes ivill be caretully re%'ieii"ed against Ihe public benefii requirement and guidance. The TNsieeg are satisfied that ihe public benetii requirement is met in respect ol'all Houn510ii' Music Service's activip.. SOUTHWEST LONDON MUSIC Effective from 2023124, the Music Hub Progrdmme leoaniSed io cteaie 43 structure5 in place of the 117 that previoiisly eyisted The DfE announced that the 7 Southiiesi London Nqusic Seriice5, comprising Croydon Music and Arts, Ilounsloii. Music Service. Kinv510n Music SeTr'ice. Metlon Music Fourthtion, Richmond Music TTU51, Sutton Music Trusi and Wandsm'orth Music. Ivould be required to repoti Iv ACE as a combined area. IIMS, iviih the Inusic 5er%'ices the oilier six Southiiest London local authorilies. fomied a n•1" r(mpanv, Souihii'est London Music, lo coordinate centralised reportlng io ACE and to distribiile funding in line li ith D.5 published forn)llla for fundilig al local aiithority level. All music ¢ducaiion activit). is delivered b) the individual rnu5ic services in each of the s¢ven local athorily. and all iraded income is on the ac£ouni of each ot8ani5ation.
HOUNSLOW MUSIC SERVICE TRUSTEES, REPORT ICONTINUED)(INCLUDING DIRECTORS, REPORT) Forthe Trear ended 31 Mar¢h 2024 Financial revie Taking Ilkto account incorne and expendiiure. the charity reali5ed an operdtional surplus of£s:919 for the )'ear. The n¢¢ movcnienl fLir the N'ear ivas an increase of £5,919 in total charil! s funds. Nde ihai the surplus excluding use of the Houn51ow Bursar). reserve was £13,014. Teaching iyiihin and outside sch(M)I has recovered well and inlee% tre pleased io g¢nerdte a surplus of £5,919. Durin¥ ihe priLTrr period. the Tnistets creaied a neil bursa fund to support llKJr¢ children and young people: for .h()ni linance ¥ould be a barrier, to continue ivith their music making. and this rplUS Ivill used io sUPPOrt this. Total fund balances as at 31 March 20?5 ivere £461.815, of which £75.9(K) related io the revaluation reserve, £2,905 io the Houiisloii Bursary reserve and ihe generdl unrestricied fimds stood ai £383,010. Total income for the year from grani monies and tuitio lee5 w'a5 £1,461,741 llJ£Te&<ing from £1.424.884 last year. Total expenditure ivas £1.455.822, increasing from £1,376,187 last }ear. of Mhich £22.578 (2024". £14,562) related io the governance of the charitable compan),. The first allarlOn of the Department for Education In5thllneni Grdnt w&% reccÈved in March 20?5. however there has been no expendirure againsi ihis during this fan(la] )'ear. resultin£ in a £reaiei deferred income balance relatii'e to Ilie prior year {Noi¢ 151. This allocaiion ii.ill be spent in 20?i'26 to tTrurchase instruments 10 SUPkM)rt schools to deliver Ihe music cu)Ticulum. In%'estment Policy During 2024.175 IIMS look advat]iave of the hith(p er interest rares a'allable in notice and no notice saTr'in05 accounts and opened imo neil busines5 5avin{Js accounts. We continue to monitor cashfloiTrs lo ensure that M"e are using our reserves H'here possible io generate additional revenue ihrough using bank accounts M'hich attract a better rate of inteTest. Teacher5, Pf nsioN Scherne (TPS) A5 a resuli ol" (he DIE annoutlcemenl that ihe). 'QUId no longer provide a grant kn Indq)endent Music Servic£s to upport the increased costs of the TPS from September 2014, FIMS lefi the sdjeme Jul!. ?024. In mid-3ugu51 DIE ihanued their position on no longer provkding a grani to independenl music scrvices,. hoiiever, for most services ihis %as loo late to re-enter the TPS. All staff were moi'ed io the NEST scheme Mthich is 8 deftned conlribuiion scheme rather than a defined benefit scheme. Risk nJgnagenJent Tlie Trustees have pr¢par¢d a Risk Register, ii'hich is reoularl). revieii'ed and substantially refined in 2023 to niak'e li a more effeciive document thai can inforni decision-maL'ing on a regular basis. The main risks ihat Tntstees have ideniified ore.. Govemmeni policy amd s¢rnieL)ic unc¢rtainry aboui future fimding f(ff music education delivery, including struiNral changes. Reduciion (in real or cash iern)sl of core grdni. The key rnitigations HMS h&s implemented io proteci ihe Organilon are= Retain membership of appropriate membetship bodies io SUPPOTt the case for public ndIng Eftecti%'e resen'es EX)lic}' inplace and reYie*'ed annualli.. Monitor and a55e5s perforniance and qualiti. of ser%'i¢e' id¢niifj' major dLpendencies- rel'ithi" TnaTK"et and sm'ice delivery- ensure regular coniaci iviih tunde¥s.' moniior public aM"ar¢ne55 and profilc of clwtty: diYer5ifi. irKome sources to reduce reliance on an), one source
HOUNSLOW MUSIC SERVICE TRUSTEES, REPORT (CONTINUED)(INCLUDING DIRECTORS. REPORT) For the Tr'earellded 31 Mareh 2025 Going concern a55e55tDent The Trustees are saiislied thai the financial 51atements of Hounsloiv Nqusic Sffvice should be prepared on a going concern basis. Once atsain HMS generated a Surplus during ihe l'ear ended 31 March 2025. niaintaining reserves at over £4UOk' ai the balan¢e sheei dale. Thc level of r¢s¢rves and cashflows shId ¢oThtinu¢ to be maintained in the coming veaTS. Governance Hounslow Music S¢rvi¢e is a charitable compan). limited b). guarantee, incorpornted on 12 Januan. 2016 and resi5tered as a charit). on ?6 Februari. 2016. The compani, li.as established under a Memi)rnndum of Associaiion, which e5(£ibli5hed the objecls and poi%eTS of the charithble compan¥ atkd is govemed under its Arnicles of Associaiion. N(Ine ol'the Inistees have an%. ben¢fi¢ial inieresi in ihe company. All of the ttusitts are members of the companv and Uartlet to contribute £ l in the event of a M'inding up. The ¢rusiees, M,ho are also directors for the purw)se of compan!. la., and M'ho servd during the s'ear and up lo the dat¢ of signature of the fancial statefflents iv£re.' Oonagh Batrv Prabhjot Basra Clirisiopher Hill Daniel Me}"ei David Roi%eis Clare Salters Thomas Sylvester Samia Chaudhary Lils. Bath Charles Holderne55 Steven Shotton (appointed 26 September 2024) (resioned 26 September 2024) (resigned ?7 Januar4. ?0251 {resigned 27 JanuaTI- 2025} TTliStee iDdu¢lion and training Neil. ttU5tee indu¢¢ion includes briefing ihem on their legal obligaiions undertharity and compan}, law. Ihe content of the Menigrandum and Articles of Associaiion. Ihe commiiiee and decision-making processes and recent financial performance of ihe charii).. Durin¥ the induciion process. thei. meet kei. emplo)-ce5 and ihe otheT truslec5. Nem. trustees are also given releyant d(KutnentaiÉon including receni important diKILmeniatiotL on music education, Inanagement financial reEx)rt5, tneetinu Tninuies and copies olthe charity'5 annual Report5 and financial stal¢m¢nt5. OrgaDi%ation ThL Bi)ard vl'Trustees mee15 quarterl). lo manage the affairs of the charit).. The Board consisted of ten dir¢ctors, from a varieii, ol-profe5sional backgrounds. Mho are rcspollsible for the overall slrtegic direction and policN of ihe charity. The Chiel'Executive, manages ihe daN._1(da%. operations of the charitN'. and as delegated authority., Ivithin temis of dele¥aiion approved b}. the trustee bod)., for operational matiets ancluding fllwice, employment a]id artisiic relaied activity. The FinanLe Risk and Audit Committee {FRAC} also meets quanerl). to scruiinise finance and risk and io consider the lindings of our a[Ual audit. The Chair of the FRAC provade5 a rert at BoaTd tDe¢tings about their discussions. Health and safet!., Child proic¢iion and safeguarding The hcalih and salery. of siaft'and swdents iogeiher ii'ith child protectton are wimarv Concerns to Ihe TnJsiee5. Mus1¢ Centre nianagers and oiher kei. staff undenake both first aid and fire marshal tralliing and all siaff are madc am'are of their oivn duiies and responsibilities for health and saf¢tS- issues. Hounsloiv Music Serlice adopts the current Clll"Id Proteciion requirements as sel out by the Home Office. Plior to the commenceTnent af M ork enhanced DBS checks tak.e place for all S[r iotsether ii'ith al lea51 sarisfaclorn, releTence5 and interviem", in line ii'ith Safer Recruitmeni guidelines in Keepinp Children Safe in Educaiitsn {KCSIE). All staff are on Ihe DBS updaie ser%'ice meaning the)" are checked ei'er). yeat.
HOUNSLOW MUSIC SERVICE TRUSTEES, REPORT (CONTINUED)(INCLUDING DIRECTORS. REPORT) For the TreareDded 31 March 2024 10 L*ce¥tht 2Q25 The Trustees. report w'as approved b}. the Board Of TneS on ......................... and signed its behalf by.. 6A..fSA Clare Paddi Salters Chair of Twstees
HOUNSLOW MUSIC SERVICE STATEMENT OF TRUSTEES. RESPON¥ilBILITIES For ihe year ended 31 Mgr¢h 2024 The irusiees Iivho are also directors ofHoun51oM Music Service for the Purp¢5 ofcompany lam.) are r¢sponsible for preparing the Repon of the Trustees and Ihe financial slatements in accordantt uith applicable law and United Kingdom AcLounling Standards (United Kingdom Generalls A¢cepied Accounling Practice). C.ompanJ' Law requires the truslees to prepare financial siaiemenis lor each fmancÈal year which ?Ève a true and fair view of the Stale of affaiTS of the charitable compan) and of the incoming resources and application of iesource5, Lncluding ilie inctsme and expenditure, of the charity for period. In pr¢panng those fttwicial statements, the intstees are required to Select suitable accounting policie5 and then appl%. them consisientl),; Observe the meih(Kls and principles in the Chatin. SORP. Make jud¥ements and esiimaies that are reasonable and pn]dent' Prepare the fmancial siaiements on the goin£ concern b&si5 unless it 15 lliappropria io presume ihai the charithble compaJ)y ii'ill continue in business. The trustees are responsible for k'eeping piopei accountin? recvrds m.hich disclose Miih reasoDable a¢curac%' ai ani. litne the financial posiiion of ihe chariiable compan!. and to enable them to ensure Iha the financial siaiemenis comply li ith th¢ Companies Act 21)06. The). are also responsible for saleguarding the assds of the charitable companj. and hence for taking reasonable steps for the preveniion alld deieciion of frdud and other itteguian"iies. In so far as the tNstees are aivare". There is no relevani audii infonnaiion of w'hich ihe charithble CoMpY'S auditors are un8ivare= and The irnsiees have uken all sieps thai ihe%' ou?hi io hai'e thk'en to mal'e themselves aw'are of an%. relevani audit infomiation and io establh that the audliors are aare of that infornlat.
HOUNSLOW MUSIC SERVICE INDEPENDENT AUDITOR'S REPORT TO THE BOARD OF TRIISTEES OF HOUNSLOW MUSIC SERVICE Opinion We have audited the financial statements of Hounsloiv Music Service {Ihe 'charitable conipan) j for Ihe )ear ended 31 March 20?5 M"hich comprise the 5taternent of financial acii%'ÈtleS, the balancc sheei. the slement of cash flOS and the note5 to the financial siaiement5. including a summary. of signiflcant accounting policies. The fiTrarkcial reporting fratneivork" that has been applied in their preparation is applicable lam. and United Kingdom Accounting Standards, including Financial Reponing Siandaid 10? The Fthaii¢'iul Repnrliiix.5iandurdapplicuhle ilie L'A and RL'iiuhlic nf Ireland(Uniled Kingdom Genernlly Accepted Accounting Praciice). In our opinion. thc fanCIal statements= give a ¢rue and (air view of th¢ stale of the charitsble compan) s affair5 as at 31 March 2025 and of its incoming res(Fiirces and application of resources. for the l'ear Ihen ended", have been properlN' prepared in accordance m.ith United Kingdom Gemlly Accepred Accounitng Prdctice.. and have been prepared in accordance with ihe requirements of the Companies Act 2006. B#5is for opinion We conducied i)Iir audit in accordance M'ith Internalional Siandards on Auditing (UK) IISAS (UK)) and applicable law. C)ur reswnsibiliries under those standards are further des¢ribed in ihe Audiiorfs responsibJ]i¢ies for the audii of the rinaJcial siaremenis seciion of our rert. 'e are independeni of ihe charitsbk cornpath). in accordance ivith the ethical requiremenis ihat are relevant to out audit of the financial sraiements in the UK. including the FRC'S Eihical 5iand8r and we have fulfilled our other cthtcal restM)nsibiliiies in accordance ii'ith ihese requirements. We lieVe that the audit ei'idence M'e have obiained is suffietent and appropriatt io proN'ide a basis f0r opinion. C.ot)clusions relxting lo going eoneern In auditing the linanLicl1 Slaiement5. Il'e hai'e concluded that the TTUStees' use of the going cotkcern basis of oUntIng in rhe preparaiion of ihe financial Statements is appropriaie. Based on the work we have perform¢d, w¢ have not identified an). material Ullcatstles relatllig to events or condiiions thai. individuall%' or colleciivel), ¥na>' cast significani doubl on ihe Chilable compans s abilit to continue as a 80in concern for a period of at l¢asl M'¢lv¢ monihs from Mhen the fancial Slatennts ate auihoris¢d for issue. Oiir responsibilities and the responsibilities of the Board Of Trusiees H'ith respect io going concern ore described in ihe relevant sections of ¢his r¢port. Other information The other iTrfonnaiion cornprise5 the inforn]atton included in the annual rep other than the financial siacements and our audiloes repon thereon. The Board Of Trustees are reskK)nsible for ihe oihei illfoTmation contained 'Ithin the annual report. Our opinion on the financial staiemenis does noi coi'er the oiher infO¥atiOn and. eicepi ro rhe e.xtent othcnvi5e expliciily stated in our rew)rt, ii"e do noi express ani, forni of assutance conclusion thereon. Our responsibility is to ad the other inforniaiion and in doing so. ¢onsider ii'hether ihe oiher lnfornjaii is maleriall!" inconsisieni ivith the financi21 statements Lir our knoii'ledge obtained in ihe course of the audii. or otheDvise appears io be maieriall!. misstated. If M'e ideniifv. such material inconsistencies or apparent maierial misststements. 'eare required io detem]iTEe ii"hether thi. gives rise io a maierial missiatemeni in the fmancial siaiemenis iheEnsel%'e5. If. based on the M'ork ii"e have perfornied, we conclude that thert 15 a material misstaiemeni of thi5 other infonnation. w.e are required io report that fact. We have nothing to rerA)rt in this regard. Opiniotts on other matters pres¢rib¢d bi. the Companie5 Act 21x16 In our opinion, based on the "ork undertak'cn in ihe course of our audit.. the infottnation given in the TSites, [trt for the fmancial l'ear for vhich ihe flnancial siaternents are prepared. .hich includes the director5. rewrt prepared foi the PUTposes of cotnpany laii. is consi51enl ivith ihe fin<incEal statements,. and the directors, report included w.ithin the Trustees. report has been prepatEd in accordance wilh applicable legal requirements.
HOUNSLOW MUSIC SERVICE Ir4DEPENDENT AUDITOR'S REPORT {CONTINUED) TO THF. IIOARD OF TRIISTEES OF HOUNSLOW MUSIC SERVIC.E Matters on which w¢ are required to report b)- exception In ihe li¥ht of the knowled(pe and undersianding of the charitable company a]¥J its envirotjment obtained in the course of the audit, M'e have not identified material misstatements in the directors. report included Mithin the Tnle¢s, report. We have nothing to report in respect of the follom.ing matter5 in relation io M'bich the Companies A¢(2006 requires u5 to report to vou if. in our opinion". adequate accounting records have not been kept, or returns adequate fwour audit have not been received from branches not i'isited by us: or the financial 5taiements are not in agreemenl with the accounting records and returns,. cenain disclosures of trLLStet5' rernunerdtion specified b!. laiv are Dot rnade: 01 'e Iiave noi received all Ihe infomiaiion and explanaiions Me re4uire (or wr audit. or the Board OITTusiees ivere not entiiled to prepare the financial starements in accordance iviih the small companies regime and ¢ake adTr'antage of the Small cofflpanie5' exernpttons in Prepari the Ttusiees, report and from the requiremeni io prepare a strategic report. Responsibilitie5 of Board Of Trustees As explained more lully in ihe siatemeni of Tnjsiees. reSnsIbilItIes, the Board Of Trugitts. 'hO aty also ihe directors of the choriiable compaftj for the puwe of compan!. laiv, are re5pon5ible for the weparaiion of the financial siaiemcjits and for being saiisfled that (hey xive a true and fail vitm", and for such intetnal conlToI as the Board Of Trusiees determine is necessary. to enable the preparation of financial 513tements thai are ftee from maierial misststemeni, w'hether due to fraud or error. In preparinu the linancial staiemtnts, Ihe Board OfTrusiees ate reswTrnsible fvr assessing tlie charitable compan}. s abilil!" lo Continue as a goin(p ¢on¢em. disclosing. as applicable. mailer5 relaied Iv going con¢ern and using ihe going concern ba515 of accouniing unless Ihe Board Of Trusiee5either innd io liquidaie ihe charitable compan). or to cease operations. or have no realistic aliemaiive bui io do so. Auditor's responsibilities for the audit of the fiDanrial statements We have been appoinied auditor under seciion 476 of ihe Companies Aci 2006 and section 144 of the Chariiies Act 201 l und report in accordance with thoseActs amd relevant te¥ulions made or baiTrng effeci thereunder. Our objeeiives are to obtain reasonable assurance about ivhether the fthancial StateenL$ as a whole ate free from maietial rni5Statetnent. Ivhether due to fraud or ettol. and io issue an audiiorfs rert that include5 1)ur opinion. Reasonable as5ufdnce is a hi£h level of &55urance but 15 not a guaTaniet thai an audit conducted in accordance iyith ISAS (UK) w'ill alivavs detect a material Tnis5taternent ivhen it eNists. NIis5talernents can arise from fraud or error and are cunsidered rnaterial it, indii'iduall). or in the a(P regate. the!. could re&wnably be expEcled to influence the economic decisions of users tak-en on ilie basis of these financial 5taten]ents. We ei'aluaied managemeni's inceDii&¢S and opportunities for fraudulent Tnanipulation of the financial statements (including the risk of override of ¢ontrols) and detemiined thai ihe principal risks ivere relaied to management bias in arc(Trunting estimates and wsting inappropriate journal entries to manipulate the fair value of the companj s assets. Our ¢ests included agreeing the financial stai¢m¢nt disc105ur¢s to underll'ing [rtIng documentation where relevant. revieii of Dir¢cl(iTs mee(in¥ minutes. enquiries M'ith ni8nag¢m¢Dt as to tlie risk's of nonomplianLe and anK' insianccs thereof, challenuillg as5UmPtions and judgments made b%. managem¢nt. aThd inI1"1n and iesling joumal entries, iii pafticiilai anj jOiiTnal eiiliies posted iviih unusual accouni combinaiions. Our audit prrtedure5 also r(used on laii"s and re¥ulalion5 that could give rise to a maierial missiaiemeni in the fmancial slm)ents, includin8, bui ntsi limited io, the Companie5 Act 2006. Oiir audit procedures ivere designed to respond to risks of material missiaiemeni in the finincial gtatetnents, recognising that the risk of noi deieciing a material Tllisstaletneni due 10 Iraud is hi¥her ihan the risk. of noi detecting one resuliing from eTror. as fraud mal. involve deliberate conceaiEnent bN.. foi e.Kample. foruen, rnisrepreseniaiiolls or through collusion. Thete ate itthereni limitations in the audit procedure5 perfornied atKI the funher removed non-compliat)c¢ M ith 131I's and regulaiions is from ihe ekents and transactions reflected in ihe fmancial statements. the less Itke li'e are to become am'ate of it.
HOUNSLOW MUSIC SERVICE INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE BOARD OF TRUSTEES OF HOUNSLOW MUSIC SERVICE The exieni to ivhich our procedures are capable of deieliing irregulariiies. includtng trauLi is detailed beloi%. A futther description ot our responsibiliiies is aaIlable ¢m ihe Financial Reporting co¢1] s w'ebsi1¢ at.. https.'IIMrn"Iv.frc.org.ukl audit0re$Wn$ibl11tie$_ This desCriln forms pon of our audiiorfs rewrt. Use of our report Thi5 report 15 made solel}. to the charitable compan} s members. as a body. ID accotdance ivith Chapter 3 of Part 16 of the Cotnpanies Arl ?006. Oui audit ivork" has been undertaken so ihai li'e might 51ai¢ to the chariiable conipany'5 Inembets those mailers ive are re4ULred io s¢aie io Ihem in an audiior s report and for no other purKKJse. To the fullest exleni pemiilled b). lai%". we dts noi accepl or assume responsibilih. to an)'one oiher than ihe charitable compan). and the charitable company's members as a both.. for our audit work, for this repo¢ rf for the opinions .¢ have forffled. Michael Spink ACA (S¢Dior Statutorv Auditor) ror And on behalf of WSM Advisors LIlled 19 December 2025 Chartered Accountants Statutori. Auditor Comeci House 133-137 Alexatkdra Road Wimbledo Lond SM'197JY 10-
HOUNSLOW MUSIC SERVICE STATEMENT OF FINANCIALACTIVITIF.S INCLUDING INCOME AND EXPENDITURE ACCOUNT For tbe )'ear eknded 31 March 2025 UDrtstritted Restrieted fund5 funds Total Total 2024 Note5 Inconie 2nd endowmeDts from: Donativns and leilacies Charitsblc activities ItLvesimenlS Other income 32,808 1.018,964 2,892 407.077 439,88.5 1,018.964 2,892 404,995 1,019,731 55 103 Total income 1.054,664 407,077 .461.741 1,424,884 Ex cnditure on: Charitable a¢tivities ,4i5.822 1.455,8?2 1.376,187 Net (expen5e)fincome resources before Iransfers (401.158 407.077 5,919 48,697 Gross transfers bets4.een funds 407,077 1407,077) Net inconje for the I'earl Net mu%"ement in lunds 5,919 5.919 48,697 Ari5Lng from Net incoming resources excluding ErtEf5ar)' reserve draivdow Biir.%ar)' reseTh'e drdivdown 13.014 17.095} 48,697 {7.09ii Fund balances l April 2024 455 896 455.896 407,199 Fulld balances at 31 Mareh 2025 461,815 461.815 455,896 The statement of financial activities includes all gains and losses recognised 7 the l'ear. All income and expendiwre d¢rii'e from coniinuing octiviti¢s. The statement of financial actÉvities also complies u'iih the requirements for income and expenditure account under the Companies A¢t ?1)06. 11
HOUNSLOW MUSIC SERVICE BALANCE SHEET As at 31 March 202£ 2025 2024 Notes Fixed assets Tan¥ible assets 12 123.249 142,099 Current a55ets Debiors Cash at bank and in hand 13 57,198 299.188 426.828 454.058 356.386 Creditors: atNOUDts falling due 'IthIn ne )'e&r 14 (115,492) {42,589) Net Current assets 338.566 313,797 Total assets less current liabilities 461.815 455.896 Income funds Unresiricied funds Designated tunds General unrestri¢i¢d funds 17 78,805 383.010 92.04) 363.851 461.815 455,896 Total cbariti. lund5 461,815 455,896 JB DEceRthr 2025 The accounts '¢re approved by the Board Of Tn1¢¢$ on C P Saliers Chair ofTrllstees Companv Registraiion No. 09947772 12-
HOUNSLOW MUSIC SERVICE STATEMENT OFCASH FLOWS For the l'ear ended 31 March 2025 2024 Notes Cash flo1Trs from operatlDg artivitie5 Cash generated frotn operations 23 124,748 18,581 Invesiing actii'ities Interest received 2,892 55 Net generated from in)'egtiDg actiiities Repaymeni Oft)yO11ngs 2,892 55 (40,4401 Net cash use(1 in financing actii'ities 140,440) Nel incre#5tlldtcrtastl IN casb and cash eqllti"aleTrts 127.640 121,804) Cash and cash equii'alent5 at beginning of vear ?99,188 320,992 C#sh and cash equivalents at end of vesr 426.8?8 299,188 13-
HOUNSLOW MUSIC SERVICE STATEMENT OF CASH FLOWS {CONTINUEDI For the yearended 31 March 2025 Critical accounting estimates and judgemen15 In the application of the charitable comFonv's accountin£ wTrlicies. theBoard Of Twsiees are required tLI make judpemen15. estimates and assumptions alM)ui ihe ¢atr)'ing amouni of a$5ets and liabiliiies that are noi readils. apparent from other sources. The estimai¢s and associaied assumptions are based oti historical experience and oiher faclors that are considered io be relevant. Acwal results ffla). differ frw these esiimaies. The estimate5 and underlying assumNions are revieii'ed on an on?oing basis. Revisions to accounring estimlltes are recognised in the period ij) ivhiLh the estimate is re.]Sed M'here the rei'tkton affe£ts onl¥. thai perio(l or in the period of the revision and future periods where the revision affec(s tM)th currthi &)d fiJDJre n(ls. Accounting policies Chariti information Hounsliiiv Milsic Service is a privaie compatk). limited b!. guoraniee inwryM)Ned in England and Il'ales. The regisiered office 15 64A Pears Roa¢ Hounslow. London. TW3 1 SR. The cornpatk}' is also a registered charity Mith regisiraiion number 1165778_ 2.1 Accounting coni'eDtion The accounts hai'e been prepared in accordance iviih rhe charithble cornpan)"'s n)emorandum and articles. the Companies Aci ?006 and-"Accounlino and Reporting bi. Chariiies". Stalerneiii of Reconimended Practice applicable to charities prepaTing their accounis in accordance itrith the Financial R¢poning Siandard applicable in the UK and Republic of Ireland (FRS 10?)" la5 amended for accounting periods commencing from l January 20161_ The chariiable company is a Public Benefii EniiiN' as deflned bi" FRS 102 The financial StateentS are prepared in 51erltng. Ivhich 15 the fitnctionai correncs, of the charitable ¢ornpan)'. Monetar). amounts in these fanCIal statements are rounded io the nearest £. The ftnancial siaiemenis have been prepared under the historical cosi convention. The principal accounting policies adopied are sei oui below. 2.2 Going concern Ai the time of approving the fllthllciai Statements. the m]siees have untkrtaken an assessmeni of the adequacy of the resources available io the chariN". The trustees hai'e a reasonable eipecta¢ion ihe charity" ha5 adequate resources to coniinue in opeiational e.xistence for the foreseeable fuiure and accordingl). continue to adopt the going concem basis of accounting in preparing the financial sraiements. 2.3 Chgritable funds Unrestricted fun(ts are available for al the discretion of the Board Of Trustees in furtherance of iheii charilable objecrives. Restricted funds are subject to specific conditions bi. donors or grantOf5 as to how. the). maj. be used. The purposes and tt5e5 of the r¢stricied fimd5 are set oui in the noies to the flnancial Mairn)ents. Endoii'meni funds are subject io specific coTrdilio b). donor5 ihat the capitsl musi be maintained bv the charitable company. 2.4 Incoming re50urces InLome is iecogni5ed w'hen ihe charitable compan!. LS legally entiiled to li after any Frforniance Condilions have been met, the amounts can be measured reliabli., and it 15 probabl¢ thai income will te received. Grants receivable and local authorit). fees are crediled to the siatemeni of financial aciitrities in the period io which Ihe}' relare. A liabiliTh' for ani" repavm¢ni is recognised iihen ihere is UeMaiy. 14-
HOUNSLOW MUSIC SERVICE NOTES TO THE FINANCIAL STATEMENTS For ihe Trearended 31 Mareh 202$ Accounting policies (Continued} Cash donations are recognis¢d on receipt. Other donations are re¢ogniscd once the charitable company has been notified of the donation, unless performance ¢ondiiions require d¢f¢rrdlof ihe amount. Inconie Lqx rttoverable in relation to donations received und¢r Gift Aid or de¢(ts olcovenani is rewgnised at the time of th¢ donation. Legacies are recognised on rff¢ipt or oth¢nvise if the charitable compaDy bas bttn notified of an impending distribution, the amount 15 kno11, and receipt 15 eXcted. If ihe arnouErt is not the legacy i5 treated as contin¥enl a55et. Incoming resource5 represent tuition fees and income frotn concerts, Ir$. hire of instrllmenis, subscriptions, trdinii)g and other services rendered durinu the N'ear. DonatiOEJ5 and other inc(xne are included in the 1.car in which they are receÈved. 2.5 ReSOllTces eipended Expendiiure 15 recognised once there is a legal or constyuciive obligaiiu) lo trdn5fer economic benefit to a third part!., li is probable (hai a iransler of economic benefits M'ill be required in settlettlent, and the amount of ihe obligation can be measured reliabl!.. Expenditure is classifled by activiTh'. The costs of each aciiviTh' are madc up ofthe total of direct costs and shared cosis, incliiding support COSIS involved in undertak'ing each aciiviiN'_ Direct costs attributable to a Single aclivil). are alltscaied direi¢l>' io ¢hai aciiwiiy. Shared COSLS iihich coniribuie io more than ¢ aciivilv and 5UPPOti Los15 14hiLh are not aiiribuiable io a single activiTh' are appornioned beNe¢n those adiTr*ilies on a basis con5isienl Illth the use of resuurLes. Ceniral siaff costs are allocaied on the basis ofiime speni. aThl thpreciation charges are allocaied on the portion of the asset's use. Resour¢es expended are recognised in the year in H.hich the>. are incurred. Ke50urces expended include attributable Value Added T&x which cannot be recovered. Expenditur¢ for tharitable purposes Direct charitable expendire tncludes all exndItUre ditecil). rtlaied io ihe d)je¢iives ofihe charitable compan). and comprises ihe cosis of prL)i'idtng instrlltnental tuiiion. tollcert perfthmances. tours. and edu¢aiion and communiij projects undenak-en bi. the charitable compan%. and is accowhted for iihen pasable. Certain other cosis, i'hich are auributhble io more than one actiViN. are apportioned across cost categories on the basis of an esiima of Ihe proportion of time speni bj. staff on those activities. Goi'erNance costs Governance cosis represent expendiiure incuTred in the mana£ement of the charitable compaThy'5 assets, organisational adtninistralion and compliance M'ith ¢onsiithiionai and 5tatuiory requiren]ents. 2.6 Tangible filed assets Tangible fixed assets are iiiiiiall!. m¢asured at cost and subsequentl). measured at cost or valuaiion. nei of depreliation and any impainn¢nt losses. Depreciation is recognised so io i%riie off ihe c¢N or valuation of &%sets less their residual values over their us¢tul likes on thc follo"Ing base5". Musical insrnmenis OaCe equipnient Oi'er 5-50 lears on a straiLyhi line basis per annum Oi'¢r 3 )"¢5 on a SlShI litle basis rKr annum The gain or Ios5 arising on the di$)5a1 of an assei is deiermined as ihe diffeience beh4"e£n the sale proceeds and th¢ carry'ing value of ihe asset. and is recognised in the sÈateFTreni of fuwicial actlVlLie5. 15-
HOUIYSLOW MUSIC SERVICE E¥OTES TO THE FINANCIAL STATEMENTS (CONTINUED) Forthe vear ended 31 Marcb 2025 AeetsulltiDg policit5 (Continued) 2.7 1mp#irmeDt of fiied assets Ai each reporting end dai¢. the charitable cotnpany reVIe'S the carying an(S of its tan8tble assets lo detemline hether there 15 an!. indicaiion thai those assets have suffered an iM}entIo55. If an}. Such indi¢aiion exisis. the recoverable amounl of the assel is esiimoied in older lo detern]ine ihe ten( of the itnpaimJeni10ss (ifan).). 2.8 Cash and cash tquiv#ltThts Catsh and Lash equivalenls include fdsh in Iwi(L deposits held at call with bajjks. other shon4emi liquid investments i¥ iih ori¥inal maiurilies of three months or les& and bank overdrafts. Bank overdrafts are sho%'n wiihin rrovIn¥S in cutrent liabilities. 2.9 Financial instruments The charitable companv has elected io applv the prOlSionS of Section I I 'Bastc Ftnancial Instnmients, and Section 12 -other Fingncial Insiruments 15sue5' of FRS 102 to all of its financial insmments. Financial insrnments are reCOlsed in the ¢h3ritable compani s balance sheet Mthen the charitable compans. becomes pam. io ihe conirnciual provisions of the instrumeni_ Financial assets and liabilities are offki. M'ith ihe net amounts presented in the financial statements, when there is a legall}. enforceable right to sei off the recOtsed amounts and there is an intention to settle on a net basis or to realise ihe assei and settle the liabiliw simultaneous1}'. Bo51L'fiiiancitTI Sets Basic financial a5set5. Ivhich tnclude debtors and cash and bank balances. are inÉiiallN' measured at tian5aclion price including tran5acLion costs and are sub5equ¢ntl)' carried ai amortised cosi using the effective interest tneihod unless the arrangenient constitutes a financing tran%aciion. m.here the tsansaciion is measured ai the piesenl value of the tuture receipts discounted ai a tnarkd rate of inieresi. Financial assds classified as receivable within one }e2r are not amortised. BusiLfiiiHni'i&l liubiliiies Basic liiiancial liabilities, including credilors and bank loans ate Énilial]Y recosni5ed al transaction price unless the arrangemeni con51ituies a financing iransaciion. where the debi ill5ttumenl Is measured at th¢ present value of ihe future pavmenis discounied ai a markei Ne of inreSt. Financial liabilitie5 classified as payable within one year are no¢ amortised. Trade creditors are obligations io pai. for g(K)ds or services that have Ixen acquired in the ordinar), course of operaiion5 from supplievi. Amounts pal'able are classified a5 Cutrellt liabilities tf paj'menl is due ilihin one year or less. If not, the% are presented as non-curreni liabilities. Trdde creditors are recognised initially ai iransaction price and SLibseqiienilJ" measured ai amofti%ed cosi Ing ihe effeciive inieiesl rnetlKd. 2.10 Emploi'ee benefit5 The c05t of an) unused holiday eniitlemeni is recognised in the IriOd in M'hich the emplo}'tt's service5 are receii"ed. Temiination benefits are recognised immediatel). as an eXn$¢ ii'hen th ¢haritable compaT]}' is demonsrrably committed to ierniinaie the emplo}Inent of an emplos'¢e or to provide minaiion benefits. 16-
HOUNSLOW MUSIC SERVICE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) Fortbe vear ended 31 March 2024 AecountiNg policies (Continued) 2.11 RetireThent benefits Pa)men15 to defined contributiijn retiruneni benefii schemes are charg as an expense as ihey fall due. HMS contriljuted io TPS until Aug1 2024. All sthff are now on a defir*d coThtribution scheme. apart from one .ho remains ort the Local GoYern¥neni Pension Scheme. Pension cosis Charged in the Statement olFinancial Activities repre5enl the COnlbUl]0S payable by the chari¢abl¢ Company in the year. 2.12 Ikases Retitals pa)'able under operating leases. including ans, lease inceniii'es received, are charged as an expense on a straight line basis over the ienn of the relei'ani lease. The lease for 64A Pears Road ivas agreed ai an annual renial expense that below" jnarket-raie. This 'non- exchange iransacrion satisfies a donation amouniing io difference beiii'een the amounts paid and the expected market rent. An independent market valuation established the propens's annual rentsl luc lo £35,0(KJ based on prevailing market rdtes. Don2tions and legacie5 Unreslricted Rtstricted lund5 fund5 Total 2025 Total 2024 Donation5 alhd gifts Grani receivable for core activiiies 32.808 32.808 407.077 798 4n4,197 407.077 32.808 407.077 439.885 404.995 Donation5 and gifts Non eKchaniTe donaiion- ren1 income Generdl donations 31,970 838 31,970 838 798 32.808 798 Cwran15 receii.uble for core #<tivities Departmeni of Education- Nlusic Education Grdnl Mayows Music Fund 391,847 15.230 391,217 12,980 15.230 407,077 407.077 404,197 17-
HOUNSLOW MUSIC SERVICE NOTES TO THE FINANCIALSTATEMENTS (CONTINUED) For the vearended 31 Mareb 2025 Income from inv¢stmeDIs Unrestricted UnStrICted funds funds 2024 Interesi receivable 2.892 55 Charitable actil'ities rental Income Total Total ?024 Income Income from: Music education 719208 299.756 1,018.964 1,019.731 Anali'sis bi. fund For the l'ear ended 31 March 2025 Uniestticied funds 719.208 299.756 1,018,961 For the l'ear ended 31 March 2024 Unrestricied fu]ids 702.967 316.761 1,019,731 Other incollle Total Vnrestricte(I funds 2024 (hher income 103 18-
HOUNSLOW MUSIC SERVICE NOTES TOTHE FINANCIALSTATEMENTS (CONTINUED) For the I'earellded 31 Marrh 202q Charitable actiYitie5 2025 2024 Eip¢nditure on: Staft costs Depiecialion and impairmenl Direci cos 963,677 18,849 93,377 87,406 1,083,337 1.071,234 Shore of support costs (see note 8) Shale of govetnance costs (see note 8} 349,908 22,577 290,391 14.562 1,455.822 1,376,187 Anal}'sis by fund Unttstricted fi]nd5 1.455.822 l.i76.187 1.455.822 1,376.187 19-
HOUNSLOW MUSIC SERVICE NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) For the vegrended 31 Mar¢h 2024 Support C05t5 allo¢oted to actii'ities Support Costs Governance Costs 2025 2024 Staff costs Telephone & Iniernet Bank fees Cleaning and refiL5e collection Consiiliing General expenses IT cosis 185.903 1.820 4.135 16.137 7,991 15.866 49.651 14.654 ?,414 i5.0(NJ 185,903 1.820 4.135 16.137 7,991 15.866 49,651 14,654 2,414 35,0 175,801 4,034 3.483 12,699 12.309 41,269 18.813 Printing. postage & Stationery Rent Interest paid Avdit fees Insurance Tnvel Pavroll admin Rate5 AdN'ertisin¥ & Matketing 3.000 44 14.562 3,088 2,51H 22,578 22,578 4,321 2,012 2,528 6.934 541 4.321 2,012 1.528 6.934 541 6,502 204 372.485 304.953 Anal)'sed between: Charitablc actii'itÈes 349.907 22578 372.485 304.953 These c()sls are ivholl). aiiributable io charitable activiiies and are allad based on (he ttu%tees' estimate of the appropriaie prowjrtion atiribuiable io each activity. Board Of Trustees During the J'ear. a negligible sum of £451 M-as recharged for legitimate Slee expenses. These N'ere incurred for rhe purposes ol-suppljing b(Mrd meeiinu refrcshfflent5 and sorne travel co*s.
HOUNSLOW MUSIC SERVICE NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) For the Tr'earended 31 March 2025 10 Employ¢¢s Number of ernploye¢s The averdg¢ monihlv number of employee5 during the )¢ar was.. 2025 Number 2024 Number Teaching staff Managemeni & Adminisiraiion 57 62 69 Employment Costs 2025 2024 Wages and sfjlaTies Social security costs Oiher pension costs 986,145 i7.036 13,833 942.435 59,(W6 137,947 ,157,014 1.139,478 The number of emplo}'ees whose almual remunerdtion £60,0(Xl more wer¢.. 2025 NumbeT 20?4 Number £60,001 to £70.000 11 Taxation The charitable compan}. is exempt from corpoNion rax on its charitable ac4iviiies. 21
HOUIYSLOW MUSIC SERVICE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) For the l'ear ended 31 Mareb 2025 12 Tangible fixed a55ets Musical i¢IMEnts Total equipment Cost Ai l April 2024 323,589 34.483 358,072 Ai 31 March 2025 323.589 34,483 358,072 DepreciatlOD and impi)irmtllt At l April 2024 Depreciation charged in the year 18i.722 16.146 30.251 2.704 215973 18,850 Al 31 March 2025 201.868 32.955 234.8?3 Carrying amount At 31 March 2025 121.721 ,528 12J,249 Ai 31 March 2024 137.867 4,232 142,099 IJ Debtors 2025 2024 Amounts falling due witbiD one Year: Trade debtors Other debtors Prepaents and accrued in¢onJe 16,842 1,000 9,388 49,703 7.495 27.230 57,198 14 Creditors: amount5 f211ing due .111 one )'e*r 2024 Notes Deferred income Trade crediiors Other creditors Accruals 15 58,421 599 36.285 20.187 10.790 1.369 15.984 14.446 115.492 42,489
HOUNSLOW MUSIC SERVICE NOTES TO THE FINANCIAL STATEMENTS {CONTINUED} For the Tr'ear ended 31 March 2025 IS Deferred income 2025 2024 Arising from governmeni granis Arisin¥ from IOUF income in advance 45.431 12.990 10,790 58.421 10,790 Deferred income is included in the fmancial statements as follows= 2025 2024 Cu)Teni liabiliiies 58.421 10,7 16 Reslrieted lunds The ¥estri¢ied furtds of the chariN' comprise ihe unexpended balances of doA*ions and Mrants held on Irust subject to specific conditions bv donors as io hom. tbe}' ma!. be used. Moi'¢m¢n¢ in fund5 INroming Rtsources resources expended Balance at I April 2024 Transfers Balance at 31 March 2028 Grdnt 407.077 (407.077) The transfer represented the costs incurred for the core activities relating d11). io the grant monies received. 17 Designated fuDd5 The unrestrÉcted funds of the charilj. Comprise the unexpended balancesof donations and granls ii.hich are not Subject to specific conditions b!. donors aEJd gtaniors as io hoM' Ihe!" ma). used These include designated funds Ivhich have been set aside out of U[estric1td IuEJds by the tyusiees foi specific purpos. Moi"tmtnt fund5 licoming Resour¢es resoMr¢es txpendtd Balance at I April 2024 B91anc¢ at 31 Mareh 2025 Revaluation of Musical Instruments Hollnsl0. Bursary Reserve 92.045 10,000 (16,1451 (7,0951 75.90 2,90.) 102,045 (23,2401 78,805 The Mources expend¢d represent the deprttiaiion cosi for the musical ilstruments.
HOUNSLOW MUSIC SERVICE NOTES TO THE FINANCIAL STATEMENTS {CONTINUED} For the vear ended 31 2025 18 Analysi5 of Det assets betwten fund5 UDrestri£ted Restritted Total Fund balanc¢s at 31 March 2025 are represented by.. TanLJible assets Current &55els'{liabilities) 123 •49 338.566 123,?49 338.566 461,815 461,815 19 Operating lease commitments Lessee The operating lease rewe5er]t5 the Ivdse of part of the ground floor aTrJ au of the f51 floor of 64 Pears Road. The inception of the lease il'as on 4th JanuaTh' 2017. The lease is negoiialed at a rent of £3,0(K> per annum over 20 years and rentals are fixed for 5 leat5. The rent M ill be revieived UpiardS everN' 5 l.ears b!. beii%'een 2 and 40/0, M'hichever is Llo%er io ihe leiel of inflation, for the entire 20 )ear lease. There is no staled comn]ilmenl tKriod in the lease coniraci. 20 Related party transactions Remuneration of ke!. management per50DNel The remilneration olkev management IrsOnnel Mas as follows.. 2024 Aggregate compensation 66.791 63.065 -24-
HOUNSLOW MUSIC SERVICE NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) For tbe )'earended 31 Marcb 2025 21 PeDsion $¢hemes Teachers Pension Scheme The LhaTit)" participated in the Teachers, Pension Scheme (the "TPS"), IOT Its teaching staff. The pension charge for the }'ear Èncludes contributions pa)'abl¢ io ihe TPS 01£88.048. The TPS 15 an unfundtd multi-etnplo!'¢r deftned tfIts pen5kon Scheme govemed b}. the Teachers, Pensions Regulaiions 2014. Members Coniribuie on a "pa). as l'ou go" basis wtth contribuiion5 from metnber5 and die emplo}'er being crediied 10 the Exchequer. Retiremeni and other pension t¢nefits are paid b}. public fimds provided b}. Parliament. The emplo)'er contribuiion rnie is set folloiving schem¢ valuaiions undertak-en b!" the Government Actuary's Department. The laiest actuarial valuaiion of the TPS prepared &% at 31 March 2020, and the valuation Teport. .hich li'as published in October 2023. The emplol'ers contribution rate increased to 28.6ty/0. Emplo}"eT5 are also requirLd ro pa). a scheme adminisiraiion lewTr" of 0.0,0 gii.ing a total eniplo5.er contribution rate of 28.680, This valuation ii'ill also deiemiine the openin(p balance of the c05t cap fi and provide an anal5'5ls of the c05t cap as required bj. Ihe Public Service Pensions Act 2013. tAbcal Cvovernment Pension Scheme The LGPS is a funded defined benefii scheme and took on b). the charitable cotnpani. as paTI of the transfer. The LOPS is ¢l()sed 10 the chariiable compan}. so no new member5 can be adtnttied from ihe point of externali5alion. BJ. March 20?5 jwsi one member of remains. Thr scheme w.ould conlinue until the last member leave5 the charitable company. The totsl coniribuiion made in the )'ear £15,625. Defined Contribution Scheme The Lliariiable company operates a defined contributÉon pen5É0n 5chellie for all qualify'ing eniplo)'ees. A total of £10,160 lias Lhai¥ed Èo piufii or loss in iespeci of dered contribution scbeEnes. The assets of the schenie are held separaiely from those of ihe charithble company in an independently administered fid. 22 Compan). limited bv guaraniee The liabili of ihe members is limited. Evers. member undertakes to contribute an amount nor exc¢¢ding £1 to the assets of the compan).. in the evenl of the compan%. being y.ound up iihi1s1 the!. are a memb¢r, or M'iihiti oiie N'ear afier cea5inu lo be a member, for the payThent of the debts and liabililics ofthe company wntracted before c¢asing to be a member. -25-
HOUNSLOW MUSIC SERVICE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) For the Trearended 31 Marrh 2024 23 Cash generated from operatlollS 2025 2024 Surplus for the year 5.919 48,697 Adjuslment5 for-. Investment income recognised in 51atement of fmancial artivities Depreciation and impairn)enl of (an8ible fixcd assets Loan intere51 prol'tsion Movement in designated restricted fim(Ls {2,892) 18,849 {55} 20,151 440 Mov¢m¢nts in working ¢apiial= Decrease.'{in¢rease) in debtOf5 IncTease/ldecrease} in crediwrs Incre&se in defetred iThcome 29,969 25.272 47,631 (25,928) (26.361 } 1,636 C25h generated from operations 124,748 18,580 -26-
HOUNSLOW MUSIC SERVICE NOTF.S TO THE FINANCIAL STATEMENTS {cowfiNUED) For tbe )'earended 31 March 2025 24 Analvsis of c8sh and cash ¢quii"*lethts 2024 Cash in hand 426.828 299,188 25 ADal)'515 of changes in net funds ThL ¥harhthble comipan). had no laterIal delx during th¢ year_ -27-