Report of the Trustees |Cllr Chris Barnham|(appointed|27 September 2017)|| |---|---|---|---| |Lydia Brookes|(appointed|27September 2017)|| |Andrea
Spain|(appointed|27 September 2017, resigned 9 November|2020)| |Joan Ruddock|(appointed|20 March 2019)|| |Susie York-Skinner|(appointed|10December 2018)|| |Fiona Lambert|(appointed|10December 2018)|| |Conrad
Hall|(appointed|10December 2018,resigned 4 May 2020)|| |Collin Hills|(appointed|10December 2018,resigned 11October 2021)|| |Louise Alexander|(appointed|12 February 2020)|| |Robert Kigozi|(appointed|22 July 2021)|| |Audrey
Bleazard|(appointed|22 July 2021)|| |Chair|Dame Joan Ruddock from March 2019||| |Treasurer|Louise Alexander||| |Secretary|Catherine|Munday|| |Chief Executive|Charly Richardson||| ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ||||||||||||||LEWISHAM MUSIC- RISKREGISTER|LEWISHAM MUSIC- RISKREGISTER|LEWISHAM MUSIC- RISKREGISTER|LEWISHAM MUSIC- RISKREGISTER|LEWISHAM MUSIC- RISKREGISTER|LEWISHAM MUSIC- RISKREGISTER|(updated October 2021)|(updated October 2021)|(updated October 2021)|||||| |---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---| |||||||||||||POIUIUM|UKEUHOOO|OVERAll||||||AC HORS ly RISKOCCURS||AESPOHSBIUIV||||| |||||||||||||IMPACT|ll-5)|RISKSCORE||||||||||||| |||||||||||||(1.5)||/IMPACI||||||||||||| |||||||||||||||VtEUHOOO||||||||||||| |||||||||||||||) +IMPACI||||||||||||| |mgh co Hl eymmmmmou
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and legacies|||2|213,223|437,083|650,306|436,152| |Charitable
activities|||||||| |Education|||4|240,984||240,984|569,241| |Investment
income|||3|109||109|338| |Total||||454,316|437,083|891,399|1,005,731| |EXPENDITURE ON|||||||| |Raising funds|||5|26,959||26,959|18,986| |Charitable
activities|||||||| |Education||||226,431|426,850|653,281|835,647| |Arts and culture (performances)||||171,933||171,933|143,602| |Recreation ofsocial welfare||||75,484||75,484|53,159| |Total||||500,807|426,850|927,657|1,051,394| |NET INCOME/(EXPENDITURE)||||(46,491)|10,233|(36,258)|(45,663)| |Transfers between funds|||15|11,573|(11,573)||| |Other recognised gains/(losses)|||||||| |Actuarial
gains/(losses)||on defined benefit|||||| |schemes||||(61,000)||(61,000)|48,000| |Net movement
in funds||||(95,918)|(1,340)|(97,258)|2,337| |RECONCILIATION
OF FUNDS|||||||| |Total funds brought|forward|||388,523|21,590|410,113|407,776| |TOTAL FUNDS CARRIED||FORWARD||292,605|20,250|312,855|410,113| Statement of Financial Position |||||2021|2020| |---|---|---|---|---|---| |||Unrestricted|Restricted|Total|Total| |||funds|funds|funds|funds| ||Notes|E|E|E|E| |FIXED ASSETS|||||| |Tangible assets|11|267,893||267,893|308,246| |CURRENT ASSETS|||||| |Debtors|12|37,775||37,775|48,126| |Cash at bank||228,329|20,250|248,579|248,687| |||266,104|20,250|286,354|296,813| |CREDITORS|||||| |Amounts
falling due within one year|13|(85,392)||(85,392)|(112,946)| |NET CURRENT ASSETS||180,712|20,250|200,962|183,867| |TOTAL ASSETS LESSCURRENT LIABILITIES||448,605|20,250|468,855|492,113| |DEFINED BENEFIT PENSION SCHEME|14|(156,000)||(156,000)|(82,000)| |LIABILITY|||||| |NET ASSETS||292,605|20,250|312,855|410,113| |FUNDS|15||||| |Unrestricted
funds||||199,081|172,422| |Designated
funds (instruments)||||249,524|298,101| |Pension
liability|16|||(156,000)|(82,000)| |Restricted
funds||||20,250|21,590| |TOTAL FUNDS||||312,855|410,113| Ild Sludio l Novelist Studio S i511oAOII Statement of Cash Flows ## ||||||2021|2020| |---|---|---|---|---|---|---| |||||Notes|f|f| |Cash|flows from operating activities|||||| ||Cash generated
from operations|||1|22,301|17,227| ||Net cash provided
by operating||activities||22,301|17,227| |Cash|flows from investing
activities|||||| ||Purchase oftangible
fixed|assets|||(22,518)|(11,111)| ||Interest received||||109|338| ||Net cash used
in investing|activities|||(22,409)|(10,773)| ||Change
in cash and cash equivalents|||in||| ||the reporting
period||||(108)|6,454| ||Cash and cash equivalents|at the||||| ||beginning
ofthe reporting|period|||248,687|242,233| ||Cash and cash equivalents|at the end||||| ||ofthe reporting
period||||248,579|248,687| Notes to the Statement of Cash Flows ## |IATION
OF NET IN
S|COME/(EXPENDI|TURE)
TO NET CASH FLOW FROM O|PERATING|| |---|---|---|---|---| ||||2021|2020| ||||f|f| |Net expenditure
for the reporting||period (as per the Statement of||| |Financial Activities)|||(36,258)|(45,663)| |Adjustments
for:||||| |Depreciation
charges/impairment|||62,871|76,718| |Loss on disposal of|fixed assets|||447| |Interest received|||(109)|(338)| |Decrease/(increase)|in debtors||10,351|(32,184)| |(Decrease)/increase|in creditors||(27,554)|15,247| |Difference between|pension charge and cash contributions||13,000|3,000| |Net cash provided|by operations||22,301|17,227| ## ||At 1/4/20|Cash flow|At 31/3/21| |---|---|---|---| ||f|f|f| |Net cash|||| |Cash at bank|248,687|(108)|248,579| ||248,687|(108)|248,579| |Total|248,687|(108)|248,579| Notes to the Financial Statements ## ## ## ## ## ## ## ## ## ## ## |2.|DONATIONS
AND LEGACIES|DONATIONS
AND LEGACIES|DONATIONS
AND LEGACIES||||||| |---|---|---|---|---|---|---|---|---|---| |||||||||2021|2020| |||||||||E|E| ||Donations|||||||26,645|26,644| ||Grants|||||||623,661|409,508| |||||||||650,306|436,152| ||Grants received, included||||in the|above, are|as follows:||| |||||||||2021|2020| |||||||||E|f| ||Arts Council||England|||||416,162|409,508| ||Government||grant|—Coronavirus||Job Retention Scheme||202,499|| ||Lewisham|Council||—COVID-19 small business|||grant|5,000|| |||||||||623,661|409,508| ## ## |||2021|2020| |---|---|---|---| |||f|f| ||Deposit account interest|109|338| |INCOME|FROM CHARITABLE ACTIVITIES||| |||2021|2020| |||f|f| ||Education|240,984|569,241| ## ## ## |2021|2020| |---|---| |f|f| |24,459|18,986| ||Activities||| |---|---|---|---| ||undertaken|Support|| ||directly
f|costs
f|Total
f| |Education|297,429|355,852|653,281| |Arts and culture (perforrnancesj|91,057|80,876|171,933| |Recreation of social welfare||~75484|75484| ||388486|512212|900698| ## ## ## |||||||Recreation||| |---|---|---|---|---|---|---|---|---| |||Raising|||Arts &culture|ofsocial||| |Support costs||funds
f||Education
f|(performances)
f|welfare
f|2021
f|2020
f| ||||5%|66%|15%|14%||| |Governance|||637|8,407|1911|1,783|12,738|8,751| |Staff costs||19,903||262,717|59,709|55,728|398,057|226,262| |Finance|||156|2,064|469|438|3,128|2,272| |Human
Resources|||341|4,498|1,022|954|6,815|7,970| |Information||||||||| |technology|||339|4,469|1,016|948|6,771|7,854| |Premises||1,146||15,127|3,438|3,209|22,920|16,635| |General office|||770|10,164|2,310|2,156|15,400|8,460| |Travel|||49|644|146|137|976|3,240| |Equipment|hire and|||||||| |maintenance|||89|1,174|267|249|1,776|6,330| |Depreciation/impair||2,997||39,559|8,991|8,391|59,938|76,665| |ment||||||||| |Other professional||||||||| |fees|||540|7,132|1,621|1,513|10,806|15,271| |Other|||~8|~103|~23|~22|~156|| |||~26|5|~35852|80876|75484|~539 17|~37971| ## ## ## |STS|||| |---|---|---|---| |||2021|2020| |||E|f| |Wages|and salaries|602,984|654,405| |Social|security costs|36,531|39,955| |Other|pension costs|121,396|127,825| |||760,911|822,185| |2021|2020| |---|---| |61|69| ## |COMPARATIVES
FOR THE STATEMENT OF FINANCIAL ACI'IVITIES|COMPARATIVES
FOR THE STATEMENT OF FINANCIAL ACI'IVITIES|COMPARATIVES
FOR THE STATEMENT OF FINANCIAL ACI'IVITIES|||| |---|---|---|---|---|---| ||||Unrestricted|Restricted|Total| ||||funds|funds|funds| ||||f|F|E| |INCOME AND ENDOWMENTS||FROM|||| |Donations|and legacies||16,275|419,877|436,152| |Charitable|activities||||| |Education|||553,241|16,000|569,241| |Investment|income||338||338| |Total|||569,854|435,877|1,005,731| |EXPENDITURE ON|||||| |Raising funds|||18,986||18,986| |Charitable|activities||||| |Education|||406,343|429,304|835,647| |Arts and culture (performances)|||143,602||143,602| |Recreation|ofsocial welfare||53,159||53,159| |Total|||622,090|429,304|1,051,394| |NET INCOME/(EXPENDITURE)|||(52,236)|6,573|(45,663)| |||||Unrestricted|Restricted|Total| |---|---|---|---|---|---|---| |||||funds|funds|funds| |||||f|f|f| |||Other recognised|gains/(losses)|||| |||Actuarial
gains on|defined benefit|||| |||schemes||48,000||48,000| |||Net movement
in|funds|(4,236)|6,573|2,337| |||RECONCILIATION|OF FUNDS|||| |||Total funds brought forward||||| |||As previously
reported||519,759|15,017|534,776| |||Prior year adjustment||(127,000)||(127,000)| |||As restated||392,759|15,017|407,776| |||TOTAL FUNDS CARRIED FORWARD||388,523|21,590|410,113| |11.|TANGIBLE|FIXED ASSETS||||| |||Fixtures||| |---|---|---|---|---| ||Instruments|and|Computer|| |||fittings
f|equipment
f|Totals
f| |COST||||| |At 1April 2020|441,927|8,794|16,214|466,935| |Additions|8,131|150|14,237|22,518| |At 31March 2021|450,058|8,944|30,451|489,453| |DEPRECIATION||||| |At 1April 2020|143,826|1,998|12,865|158,689| |Charge for year|6,708|1,762|4,401|12,871| |Impairment|50,000|||50,000| |At 31March 2021|200,534|3,760|17,266|221,560| |NET BOOK VALUE||||| |At 31March 2021|249,524|5,184|13,185|267,893| |At 31March 2020|298,101|6,796|3,349|308,246| ## |NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31MARCH 2021|NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31MARCH 2021|NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31MARCH 2021|| |---|---|---|---| |DEBTORS:AMOUNTS
FALLING DUE WITHIN ONE YEAR|||| |||2021|2020| |||f|f| |Trade debtors||10,002|12,236| |Prepayments|and accrued income|27,773|35,890| |||37,775|48,126| |CREDITORS: AMOUNTS|FALLING DUE WITHIN ONE YEAR||| |||2021|2020| |||f|f| |Trade creditors||12,904|18,000| |Taxation and|social security|9,062|10,115| |Other creditors||63,426|84,831| |||85,392|112,946| ## ## ## ||||||||2021|2020| |---|---|---|---|---|---|---|---|---| ||||||||f|f| |Defined benefit pension||||||||| |Liability (see|note|16)|||||156,000|82,000| |MOVEMENT
IN FUNDS||||||||| |||||||Net|Transfers|| |||||||movement|between|At| ||||||At 1/4/20|in funds|funds|31/3/21| ||||||f|f|f|f| |Unrestricted|funds|||||||| |General fund|||||172,422|15,086|11,573|199,081| |Pension reserve|||||(82,000)|(74,000)||(156,000)| |Designated
funds||—instruments|||298,101|(48,577)||249,524| ||||||388,523|(107,491)|11,573|292,605| |Restricted funds||||||||| |Frank Doran|Memorial||Fund||10,017|(5,000)||5,017| |London Music Fund (LMF)||||||2,371||2,371| |Lewisham
Young||Mayor's||Fund|11,573||(11,573)|| |Matthew
Nicholls||Fund||||9,052||9,052| |Ironmongers'|Company||Fund|||3,810||3,810| ||||||21,590|10,233|(11,573)|20,250| |TOTAL FUNDS|||||410,113|(97,258)||312,855| ## ||||||Incoming|Resources|Gains and|Movement| |---|---|---|---|---|---|---|---|---| ||||||resources|expended|losses|in funds| ||||||f|f|f|F| |Unrestricted
funds||||||||| |General fund|||||454,316|(439,230)||15,086| |Pension reserve||||||(13,000)|(61,000)|(74,000)| |Designated
funds - instruments||||||(48,577)||(48,577)| ||||||454,316|(500,807)|(61,000)|(107,491)| |Restricted funds||||||||| |Arts Council Music|Education|||Hub||||| |Grant|||||416,162|(416,162)||| |Frank Doran Memorial||Fund||||(5,000)||(5,000)| |London Music Fund (LMF)|||||7,111|(4,740)||2,371| |Matthew
Nicholls|Fund||||10,000|(948)||9,052| |Ironmongers'
Company||Fund|||3,810|||3,810| ||||||437,083|(426,850)||10,233| |TOTAL FUNDS|||||891,399|(927,657)|(61,000)|(97,258)| |Comparatives
for|movement|||in funds||||| |||||||Prior|Net|| |||||||year|movement|At| ||||||At 1/4/19
f|adjustment
f|in funds
f|31/3/20
f| |Unrestricted
funds||||||||| |General fund|||||149,357||23,065|172,422| |Pension reserve||||||(127,000)|45,000|(82,000)| |Designated
fund -|instruments||||370,402||(72,301|298,101| ||||||519,759|(127,000)|(4,236)|388,523| |Restricted funds||||||||| |Frank Doran Memorial||Fund|||15,017||(5,000)|10,017| |Lewisham
Young Mayor's|||Fund||||11,573|11,573| ||||||15,017||6,573|21,590| |TOTAL FUNDS|||||534,776|(127,000)|2,337|410,113| |||||||incoming||Resources|Gains and|Movement| |---|---|---|---|---|---|---|---|---|---|---| |||||||resources||expended
f|losses
f|in funds
f| |Unrestricted
funds||||||||||| |General
fund||||||569,854||(546,789)||(23,065)| |Pension reserve||||||||(3,000)|48,000|45,000| |Designated
funds - instruments||||||||(72,301)||(72,301)| |||||||569,854||(622,090)|48,000|(4,236)| |Restricted funds||||||||||| |Arts Council Music|Education|||Hub||||||| |Grant||||||409,508||(409,508)||| |Frank Doran Memorial||Fund||||||(5,000)||(5,000)| |London Music Fund (LMF)||||||9,026||(9,026)||| |Lewisham
Young Mayor's|||Fund|||16,000||(4,427)||11,573| |Garden Memorial|Fund|||||1,343||(1,343)||| |||||||435,877||(429,304)||6,573| |TOTAL FUNDS||||||1,005,731||(1,051,394)|48,000|2,337| |2months
and prior|year|12 months|||combined|position|is|as follows:||| |||||||||Net|Transfers|| |||||||||movement|between|At| |||||||At 1/4/19||in funds|funds|31/3/21| |||||||f||f|f|f| |Unrestricted
funds||||||||||| |General fund||||||149,357||38,151|11,573|199,081| |Pension reserve||||||(127,000)||(29,000)||(156,000)| |Designated
fund -|instruments|||||370,402||(120,878)||249,524| |||||||392,759||(111,727)|11,573|292,605| |Restricted funds||||||||||| |Frank Doran Memorial||Fund||||15,017||(10,000)||5,017| |London Music Fund (LMF)||||||||2,371||2,371| |Lewisham
Young Mayor's|||Fund|||||11,573|(11,573)|| |Matthew
Nicholls|Fund|||||||9,052||9,052| |Ironmongers'
Company||Fund||||||3,810||3,810| |||||||15,017||16,806|(11,573)|20,250| |TOTAL FUNDS||||||407,776||(94,921)||312,855| ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## |||||2021|2020| |---|---|---|---|---|---| |||||f000|EOOD| |Current service cost|||||33| |Past service cost|||||| |Plan introductions,|changes, curtailments||and settlements||(33)| |Net interest income|/ expense|||(2)|(3)| |Recognised
in profit|or loss|||(13)|(3)| |Recognised
in other|comprehensive|income|||(48)| |Total cost recognised|||||(45)| |||||2021|2020| |---|---|---|---|---|---| |||||f000|EOOD| ||||Opening
defined benefit obligation|924|967| ||||Current service costs|11|33| ||||Past service costs||| ||||Interest expense|21|23| ||||Actuarial
(gains) / losses|208|(81)| ||||Contributions
by scheme participants|1|5| ||||Benefits paid|(33)|(23)| ||||(Gains) / losses on curtailment||| ||||Closing defined benefit obligation|1.132|924| |Changes|in|the|fair value ofthe pension
plan assets were as follows:||| |||||2021|2020| |||||EOOO|f000| ||||Opening
plan assets|842|840| ||||Interest income|19|20| ||||Actual return on plan assets (excluding interest income)|134|(33)| ||||Assets distributed
on settlement||| ||||Contributions
by employer|13|33| ||||Contributions
by scheme participants|1|5| ||||Benefits paid|(33)|23| ||||Closing plan assets|976|842| ||||2021|2020| |---|---|---|---|---| ||||9o|9o| |Equity instruments|||62|65| |Debt instruments|(bonds)||24|25| |Property|||7|8| |Cash|||7|2| ||||100|100| |tuarial
assumptions|used|were as follows:||| ||||2021|2020| |Discount rate|||2.09o|2.3%| |Expected rates ofsalary increases|||3.55%|2.69o| |Expected rates ofpension||increases|2.85%|1.9%| |Change
in assumptions|Change
in assumptions|at31March 2021:|Approximate%|increase to|Approximate|monetary|amount| |---|---|---|---|---|---|---|---| ||||Defined Benefit|Obligation|E000||| |0.5%decrease|in Real|Discount Rate|99o||101||| |0.5%increase|in the Salary Increase rate||0%||||| |0.5%increase|in the Pension Increase Rate||8%||94||| |(CPI)|||||||| ## ## ##