**Charity number: 1172363** 

## **RESTORE THE MUSIC UK** 

## **TRUSTEES' REPORT , INDEPENDENT EXAMINER'S REPORT AND FINANCIAL STATEMENTS** 

**FOR THE YEAR ENDED 31 MARCH 2022** 



## **RESTORE THE MUSIC UK** 

## **CONTENTS** 

||Page|
|---|---|
|**Reference and administrative details of the Charity, its Trustees and advisers**|1|
|**Trustees' report**|2 - 6|
|**Trustees' responsibilities statement**|7|
|**Independent examiner's report**|8|
|**Statement of financial activities**|9|
|**Balance sheet**|10|
|**Statement of cash flows**|11|
|**Notes to the financial statements**|12 - 24|





## **RESTORE THE MUSIC UK** 

## **REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 MARCH 2022** 

|**Trustees**|Ms D M Gandola|
|---|---|
||Mr G M Singer|
||Ms S J Rajani|



**Charity registered number** 1172363 **Principal office** 6th Floor Park House 116 Park Street London W1K 6AF **Chief executive officer** Polly Moore **Independent Examiner** Crowe U.K. LLP Chartered Accountants Fourth Floor St James House St James Square Cheltenham GL50 3PR **Bankers** NatWest Swiss Cottage 106 Finchley Road London NW3 5JN 

Page 1 



**RESTORE THE MUSIC UK** 

## **TRUSTEES' REPORT FOR THE YEAR ENDED 31 MARCH 2022** 

The Trustees present their report and financial statements for the year ended 31 March 2022. 

The accounts have been prepared in accordance with the accounting policies set out in note 1 to the accounts and comply with the charity's governing document, the Charities Act 2011 and “Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).� 

## **Structure, governance and management** 

Restore the Music UK (�RTM UK�) is a charitable incorporated organisation and was entered on the Register of Charities on 31 March 2017 and holds Charity number 1172363. The Constitution was effective from that date. It is e�empt from ta�ation. 

The Trustees who served during the year and up to the date of signature of the financial statements were: Ms D M Gandola Mr GM Singer Ms SJ Rajani 

Trustees are appointed through a process of recommendation and interview. In good time before a Trustee is due to step down suggestions for a replacement are made and possible candidates are approached. Shortlisted candidates are then interviewed by a trustee and the C��, who make a recommendation to the other Trustees. The overriding aim is to ensure that trustees have a skillset well suited to the diverse activities covered by our grant giving. 

The Trustees are fully aware of their responsibilities under charity law as disclosed within the Charity Governance Code. The Charity Governance Code will be made available to new Trustees. 

The C��, Polly Moore, has hands on day-to-day responsibility for all aspects of the Charity's growth, performance, strategy and delivery. This includes, but is not limited to, presenting to Trustees, financial overview, marketing and brand awareness opportunities, major donor relations, management of digital platforms and all communication and fundraising campaigns.   The C�� is responsible for the management of the grant programme - including relationships with past, present and future grantees, and building programme forecasts on a rolling 3 year view. 

Additionally, all events, from conceptual stage to post-delivery, are designed, managed and delivered by Polly Moore. These include the Steinway Masterclass, �attle of the �ands, film production on location, Teachers' Celebration Dinner and all fundraising events including the annual Gala Fundraiser. 

Trustees are also regularly updated on all aspects of the charity�s progress through emails and Trustee approval is always sought by email for any e�penditure over �2,000. 

The aim of the Charity is to keep all administrative costs as low as possible and ensure that any e�penditure is at all times valid, necessary and value adding with a focus on the core raison d�etre of the programme. 

## **Objectives and activities** 

Under the Constitution, the Trustees are empowered to use all or any of the capital for the provision of  financial assistance to state primary and secondary schools in the UK in the sole regard of (re)building their music departments. 

�perations of the Charity are governed by the Trustees. The secretary of the Trust is Polly Moore. 

The Trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the trust should undertake. 

RTM UK is a low overhead and high impact charity that is changing the shape of music provision in state schools 

Page 2 



## **RESTORE THE MUSIC UK** 

## **TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022** 

and specifically those in areas of high socio-economic deprivation. The founding vision of the Charity is to deliver transformative opportunities and multiple pathways to all young people and with it the benefits of social cohesion and mobility that a levelling up in music education can deliver. The RTM UK Capital Grant Programme now has a funding footprint of �1.3 million across 26 London boroughs with the capacity to reach over 70,000 young people. 

## **Public benefit** 

The purpose of RTM UK is raising money to rebuild school music departments in heavily deprived areas � make music accessible � available to all young people throughout their education. The RTM UK Capital Grant Programme addresses the hole created by austerity � funding cuts in state education, reestablishing music as a core subject priority in all schools and helping to facilitate social cohesion and mobility. 

RTM UK funding is delivered directly to state schools via the School Grant Programme. This programme allocates Capital Grant Awards of �10,000 to �20,000 to schools of above average Free School Meals and Pupil Premium. The RTM vision is to enable access to music for all students - a vital resource as both a universal language but also the gateway to new opportunities, unlocking hidden talents and the building of cultural capital. Students are encouraged to take instruments home and to support their peers in ensembles both in and out of the classroom. Impact ranges from developing confidence, aspiration, and positive attitude to a greater understanding � acceptance of diversity within our global culture. 

RTM UK works with local music partners to identify schools best placed to optimise the funding and deliver ma�imum impact. 

A school's eligibility is initially determined by the level of Free School Meals and Pupil Premium but will also look at levels of mobility and �nglish as an Additional Language. In the grant application, schools are required to demonstrate a clear and sustainable musical strategy for delivering ma�imum benefit to the students over a 3 year period. Grant awards are ma�imum �10,000 for primary schools and �20,000 for secondaries and applications must include an itemised breakdown of proposed e�penditure. This programme is vital in areas where the cost of access to a music education are prohibitively high for most parents and the benefits of music are therefore not available or offered to most students. �ecoming a grantee enables a school to build up the cultural capital of their students as well as offering a hugely valuable resource for mental wellbeing - a need more desperate than ever following the pandemic. Grant applications are approved by the RTM UK �oard of Trustees and Grantees are e�pected to participate in RTM UK events and showcase their students and new facilities. 

�very RTM UK Grantee school is legally obliged to submit an annual Progress report which details all aspects of the impact of the funding. Typically this will include details of musical performances, quantitative data on students participating in ensemble groups, uptake of instrumental learning � e�am board results. This is reviewed alongside the original grant application to ensure adherence to approved vision and strategy and a commitment to sustainable music provision. 

The Charity�s income is devoted almost entirely to scholarships and grants. 

The Charity�s offer is publicised widely through social media, the Charity�s website, relations with local MPs, music industry participants and by word of mouth. 

Applications are made from all over the UK but largely from London. Applicants are required to say what benefit a grant will bring to their school and its students as well as to lay out precisely the purchasing strategy with accompanying description of intended outcomes. 

The trustees have given due consideration to the Charity Commission�s published guidance on the Public �enefit requirement under the Charities Act 2011. 

## **Grant making policy** 

RTM UK is committed to delivering the founding vision of the Charity by enabling access to music provision for every child.  The policy of the School Music Grant Programme is to invest in schools who clearly demonstrate a 

Page 3 



## **RESTORE THE MUSIC UK** 

## **TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022** 

determination to deliver this vision and support the need for music to be made freely available within the school environment.  The procedure for making grant awards is through a robust application process with all recommended submissions presented by the C�� to the �oard of Trustees. 

There is a formal funding agreement in place for all approved grant awards and RTM UK demands integrity and transparency from all recipients of its grants.  It is vital that all activities funded by RTM UK are carried out to the highest and most ethical standards and reflect the principles of diversity, equality and inclusion fundamental to the demographic which RTM aims to support. 

This Funding Round process takes place twice a year and aims to allocate all charity income outside of operating costs and the reserve pot (see below) so no income is carried forward in to the ne�t financial year. 

## **Achievements and performance** 

The overall policy of the Charity is to fund the provision of musical instruments and tuition for every child in state primary and secondary education. 

Grant awards were made to 16 schools for the year ended 31 March 2022. Details are contained in Note 6 to the accounts. 

Grantees are encouraged to participate in various RTM UK events during the course of the year and in 2021�22 these included a (match) fundraising campaign �ig Give Christmas Challenge 2021 and the Gala Fundraiser Dinner held in �ctober 2021, attended by RTM UK Donors. 

In addition to the grant awards made, the Charity confounded all e�pectations by largely managing to uphold and deliver against all set objectives during a second unprecedented year beset by Covid related challenges and obstacles. 

- July 2021 Funding Round: Grant awards totalling �160,000 allocated to 9 primary and secondary schools across London (enabling access to music for over 8,500 young people by funding new resources for their school music departments) 

- September 2021: Steinway Sale: contribution of content for the purpose of creating an online advertorial to promote the sale and thank Steinway for selecting RTM UK as their beneficiary. 

- �ctober 2021: Gala Fundraiser Dinner for 170 guests 

- December 2021: participation in �ig Give Christmas Challenge, a major online fundraising campaign. Raised total of �64,743. (To be awarded in school grants in upcoming funding round in March 2022) 

- March 2022 Funding Round: Grant awards totalling �110,000 allocated to 7 primary � secondary schools across London, offering access to music for 6,500� students. 

## **Fundraising** 

RTM UK carries out a program of fundraising events over the course of the year in order to generate income for the RTM Capital Grant Programme. RTM UK does not employ e�ternal agencies to carry out professional fundraising on its behalf. 

Following the implementation of the General Data Protection Regulation (GDPR) 2018 and the UK GDPR (January 2021), RTM UK relies on consent for all its marketing activities.  In line with our Data Protection Policy, the charity does not sell and has not given data to third parties without e�press permission.  Access to the RTM UK database by staff and volunteers is strictly controlled with varying access levels only with the approval of the C��. 

Any complaints received during the year are recorded. There were no complaints received in the year. 

RTM UK�s income for the 12 months covered by this report was �536,764, appro�imately 40� higher than the previous year due to the staging of the Gala Fundraiser post-Covid in �ctober 2021 followed by the �ig Give Christmas Challenge in December 2021. 

In person fundraising events are a large source of income for the charity, in part because the donors relish the 

Page 4 



## **RESTORE THE MUSIC UK** 

## **TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022** 

opportunity to watch the grantee students perform which in turn inspires generous donations. 

The 2 main events are the Annual Gala Dinner and the �ig Give Christmas Challenge, both of which are raising donations from private individuals. 

Going forward the charity will be concerned to increase the proportion of core funding streams versus fundraising events in order to protect against pandemic type cancellation scenarios and the reliance on this income. 

## **Pay Policy** 

The key management personnel of the charity comprise the �oard of Trustees and the C�� and they are responsible for directing, controlling, running and operating the charity on a day-to-day basis. All Trustees give their time freely and no trustee remuneration was paid during the year. Details of Trustee e�penses and related party transactions are disclosed in notes 11 and 21. 

The remuneration of Senior Management (C��) is subject to review and approval by the �oard of Trustees. The package, which comprises a salary and small, capped bonus element based on meeting fundraising targets, is designed to ensure the selection and retention of high-quality leaders.  It also ensures that RTM donors, supporters, volunteers, beneficiaries and the public recogni�e the importance we place on accountability in all aspects of our work, including the determination of pay and benefits of the senior management. 

All employee salaries are reviewed annually, and affordability, economic trends and e�ternal pay movement is taken in to account. 

## Risk management 

The Trustees recognise that although the Charity generally operates in a low risk environment, it does face operational and financial risks. �very effort is made to put in place controls and procedures that are designed to mitigate identified risks. These address the following: 

- The sustainability of incoming funds and in particular unrestricted funds 

- The allocation of restricted funds 

- Financial controls and approval of e�penditure 

The cancellation or postponement of events and other fundraising partnerships is a key risk for the charity. In addition, particular attention was paid to the charity�s ability to reach its beneficiaries through a variety of virtual�online events and more attention paid to the donor facing comms strategy going forward � specifically with regard to updating on latest Charity initiatives and calls to action. 

Detailed financial forecasting and 3 year forward modeling takes place monthly but key assumptions are continually assessed and revised.  These financials come under monthly review by management and are presented to the Trustees bi-monthly for review, with a formal �nd �f �ear review on completion of the Independent ��aminer�s Report. 

The Charity�s bank accounts are all held with NatWest �ank and are managed by C��, Polly Moore. 

## **Financial review** 

Income for the year was a grant award totaling �200,000 ( _2021: £200,000_ ) from The Gordon and Jenny Singer Foundation (for the purpose of school grants and administrative costs of the charity) and �336,764 ( _2021: £119,071_ ) from various other donors. 

�270,000 ( _2021: £163,336_ ) was spent on grant awards to 16 London state schools. Support costs totalled �128,466 ( _2021: £118,549_ ) and costs incurred on raising funds totalled �92,499 ( _2021: £10,334_ ). Net income for the year was �45,799 ( _2021: £26,852_ ). 

## **Reserves policy** 

At the year end reserves of the Charity were �156,747 ( _2021: £110,948_ ). 

Page 5 



RESTORE THE IAUSIC UK
TRUSTEES. REPORT I¢ONTWUED}
FOR THE YEAR ENDED 31 MARCH 2022
In line wlh the intention stated in the 2021 Annual Report. the charity has m formalPy adopted 8 12 month
operational cost reseryes polKy. In addil#)n the charty aims lo maintain 8 flexible grant award reseNes policy of
up lo £75,000. Tolal reseNe (in liie with currenl cyerational c08t) to sL￿d at ￿ more than £200.000 aThl ￿1
Other funds to be allxaled via the RTM S¢horA Gwl Pr¢gramme by the end of each fin￿￿al year unles8
otherwise agreed ￿th the Board OfT￿￿.
Future do¥elownents
The Charity's objectNe ¢ontinues lo be to the prtr4isi￿ of music lo wery child in slate primary and
srfondary schools aGT¢)5S the UK.
The intent￿n is to gfu•V the current f￿￿1n1 in a Natimxk Expansion Pkn using partnership core funding to
deliver Ihe model in other principal t￿*5. From this point it is anlwaled that wional partr)erships and
fundrasing admties enable RTM to achieve greater coverage deliver its founding VISI￿ in greater scale
whilst adhering lo the founding ￿￿)n and kw-ovetheadlhv4h impact financial 1Th￿e1.
The Trustees thank and acknovAedye the genero¥ty d The Gordon 8nd Jenny Singer Foundatfr)n in the fom of
an anNal grant award and continue in their CoMmit￿Ent lo seeking aJd*K)nal funding from external parties in
order lo maintain and kTow the RTM UK Grwrt Pwogrr4rffle.
The ChaTty is benefftting from a full reopening of hospitalty venues and lifting of COVID re8tiiclions. enabling
lo focus once agan on an active fundraising progrme for dorw)rs aThJ various events for student partiGiP3tion
eg. Steinwèy Masterclass arKI Batle of th8 Bands. HrrNeYer, in the event that were lo be a resurgence af
the p￿deMiC and accompanying restrKtions. the chwty wa revert bad( to the virtual model and Sca￿ back on
any expenditure not strKtly necessary for Ihe purpose of defivering the charty objectives and the mana9ement
thereof.
RTM UK has full furKling in place f(Y the ah￿d wil alcMT for both the objgctNe of thg charrty {fundinp
the promsion of mvsK lo scho*going yNng pwle) as V+ell as ¢overmg the costs of delivering Ihe kyogramme.
Should a repeal of Covid s￿e shutdMI scenarto c¢¢ur. this will enable th8 Charity to maintain ts core objeGlive
and delivery at the same18vel as crisis ￿ of 201¥20.
Current forecasts denvJnstrate a r￿uM to prtrpartht incone gener*ion levols. Wjreover. were
lundrwsing during 2022r23 to d￿onStrate exponential gr￿￿h, the chwity v¢il accelerate nationwrde expansion
and grow the Sch￿1 Grant Programme in h.r￿ wrth the Founding Vision and Code of Govemance outh.ned above.
The Trustees are confident that the conlinggnw planriNJ ￿thin the organEatK)n will ensure that RTM
UK is in a position lo contsnue and thrive for fweeabk future arnj, therefoTe. the fmancial statement8 have
been prepared on this basis.
Acknowledgement
The Trustee8 wish to thank CEO. Poh¥ Moore, for (Mjtslanikng eXecJJtiC￿ delNery of aThs and purpose of
RTM UK and note the swrfl ffiancial tumaround fOlkn￿r￿ the pandemic wrth an increase in both revenue
grant awards. The Trustees recognise and a¢knv*ledge a ￿Markable job executed by Polty PAoDre with inlegrAy.
dete￿1[￿tiOn an umvaverin9 belief li the VAA)n cl RTM UIQ
Approved by order of Ihe men*ets ofthe board 0fTr￿ on
behalf by..
and stgned on their
MrG M Slnger
Chalr of Trustees
S) tr 2•q2
Page 6

RESTORE THE MUSIC UK
8TATEMENT OF TRUSTEES. RESpON%￿u￿E3
FOR THE YEAR ENDED 31 MARCH 2022
The Trustee$ are responsible for preparing th8 Tntstees, report the finarKial statements in aGwrdan¢e with
applic*)le law and United Kirydom AcC￿jn￿n9 Standards (United KiwJom Generaly Accepted Accounting
Praclice).
The law appli¢otle to ¢haritte$ Mi Engl•KI & W*s wuires the Twstees lo prepare financial 8latem&nls for
eaGh fina￿la1 which give a twe WKI fair vw of the slate of afairs of the Charty aThJ of its In¢oming resources
and application of resources. includin9 ts incorne 8dKJ expendI￿rg. ft>r that period. In preparNI9 these finaneAal
statements. the Trustees are required lo:
select suitable xcounting policies and then appty them consistenuy..
obseNe the meth¢ds and winciple$ offv Chall￿$ SORP IFRS 102):
make judgements and accounting estimates th* are reasonable and pnKlent',
81ate whether applicable UK AC￿￿nting Standards {FRS 102) h*e been folh)wed, subject lo any m*erial
departures disdosed and explained in tt* Stste￿nIS.
prepare the finartial stat￿ents on the going co￿0rn basis w)185s il 15 inapproptiate to presume that the
Charity wll continue in
The Trusl¢es *• responsible for kwMn9 •J8quate ￿ordS that affj suffici8nt to $l¥Jw and explain
the Charit￿$ transacti¢Jns and disclosa wth reasonable at ￿Y twne the financial position of the Charity
and enabb them to ensu￿ that the finan¢i* coryty *ilh the Charities Act 2011. Ihg Charity
(Accounts and Reports) Regllat￿nS 2W8 and the provisK)rr8 of the Tnot deed. They are al￿ responsible for
safeguarding the assets of the Charity arKI heThx for takiTr3 reas¢)nable 8tèP5 forthe prgvenlron detection of
fraud and olher irregLlarities.
Approved by order ofthe members ofthe board of Twstees on
behalf by.
and $wJned on ils
Mr G M Slngor
Chalr of Truste
Pa9e 7

## **RESTORE THE MUSIC UK** 

## **INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 MARCH 2022** 

## **Independent examiner's report to the Trustees of Restore the Music UK ('the Charity')** 

I report to the Trustees on my e�amination of the accounts of the Charity for the year ended 31 March 2022 which are set out on pages 9 to 24. 

This report is made solely to the Charity�s Trustees, as a body, in accordance with section 154 of the Charities Act 2011. My independent e�aminer�s work has been undertaken so that I might state to the Charity�s Trustees those matters I am required to state to them in an independent e�aminer�s report and for no other purpose. To the fullest e�tent permitted by law, I do not accept or assume responsibility to anyone other than the Charity, the Charity�s members as a body and the Charity�s Trustees as a body for my independent e�aminer�s work, for this report, or for the opinions I have formed. 

## **Responsibilities and basis of report** 

As the Trustees of the Charity you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the 2011 Act'). 

I report in respect of my e�amination of the Charity's accounts carried out under section 145 of the 2011 Act and in carrying out my e�amination I have followed the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act. 

## **Independent examiner's statement** 

Since the Charity's gross income e�ceeded �250,000 your e�aminer must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the e�amination because I am a member of The Association of Chartered Certified Accountants, which is one of the listed bodies. I have completed my e�amination. I confirm that no matters have come to my attention in connection with the e�amination giving me cause to believe that in any material respect: 

1. accounting records were not kept in respect of the Charity as required by section 130 of the 2011 Act� or 

2. the accounts do not accord with those records� or 

3. the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a 'true and fair' view which is not a matter considered as part of an independent e�amination. 

I have no concerns and have come across no other matters in connection with the e�amination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. 

Signed: Dated:  1 June 2022 Guy �iggin FCCA **Crowe U.K. LLP** Chartered Accountants Fourth Floor St James House St James Square Cheltenham GL50 3PR 

Page 8 



## **RESTORE THE MUSIC UK** 

## **STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2022** 

|**Note**<br>**Income from:**<br>Donations<br>4<br>�ther trading activities:<br>_._ Gala Fundraiser �vent<br>**Total income**<br>**Expenditure on:**<br>Raising funds<br>5<br>Charitable activities<br>7,8<br>**Total expenditure**<br>**Net movement in funds**<br>**Reconciliation of funds:**<br>Total funds brought forward<br>15<br>Net movement in funds<br>15<br>**Total funds carried forward**<br>15|**Unrestricted**<br>**funds**<br>**2022**<br>**£**<br>**277,724**<br>**2��,040**<br>**�36,764**<br>**�2,4��**<br>**3��,466**<br>**4�0,�6�**<br>**4�,7��**<br>**110,�4�**<br>**4�,7��**<br>**1�6,747**|**Total**<br>**funds**<br>**2022**<br>**£**<br>**277,724**<br>**2��,040**<br>**�36,764**<br>**�2,4��**<br>**3��,466**<br>**4�0,�6�**<br>**4�,7��**<br>**110,�4�**<br>**4�,7��**<br>**1�6,747**|_Total_<br>_funds_<br>_2021_<br>_£_<br>_319,071_<br>_-_<br>_319,071_|
|---|---|---|---|
||||_10,334_<br>_281,885_<br>_292,219_|
||||_26,852_|
||||_84,096_<br>_26,852_<br>_110,948_|



The notes on pages 12 to 24 form part of these financial statements. 

Page 9 



RESTORE THE IWSIC UK
AS AT 31 IAARCH 2022
2022
2021
Flxed assots
Twg*ile a￿ets
12
1270
2.t63
1270
2,163
Curront ass•t8
Oebtors
Cash at bank ¥nd in ￿nd
13
18
23,317
141,657
11.888
104613
164.974
117,9)1
Credttors.. wnourts 1811iTrJ due wthin
14
,49n
(8. 716)
Net curront assets
15S,477
108. 785
Tol•[ not a$8¢ts
156.747
110.948
Char6ty funds
Unreslri¢ted fund$
15
156,747
110.948
T4)tal funds
166,747
110,948
The fmancial statemeth V+pre 4Jpro%*d wlt¥Xoed for Is$￿ ty tho TNstaes on
and signed ¢)n their behalf by.
MrGMSlng
Chalr of Tru$le¢s
Ir
The Th)ks on pw 12 to 24 form ofthese ffin8￿￿ st*e￿nI#.
Page 10

## **RESTORE THE MUSIC UK** 

## **STATEMENT OF CASH FLO�S FOR THE YEAR ENDED 31 MARCH 2022** 

|**Cash flows from operating activities**<br>Net cash used in operating activities<br>**Cash flows from investing activities**<br>Purchase of tangible fi�ed assets<br>**Net cash provided by�(used in) investing activities**<br>**Cash flows from financing activities**<br>New finance leases<br>Repayments of finance leases<br>**Net cash (used in)�provided by financing activities**<br>**Change in cash and cash e�uivalents in the year**<br>Cash and cash equivalents at the beginning of the year<br>**Cash and cash e�uivalents at the end of the year**|**2022**<br>**£**<br>**36,443**<br>**�**<br>**�**<br>**�**<br>**(3��)**<br>**(3��)**<br>**36,044**<br>**10�,613**<br>**141,6�7**|_2021_<br>_£_<br>_9,876_<br>_(2,752)_<br>**(2,7�2)**<br>_799_<br>_(67)_<br>**732**<br>**7,��6**<br>_97,757_<br>_105,613_|
|---|---|---|



The notes on pages 12 to 24 form part of these financial statements 

Page 11 



## **RESTORE THE MUSIC UK** 

## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022** 

## **1. General information** 

Restore the Music UK is a Charitable Incorporated �rganisation registered in �ngland and Wales (Charity number: 1172363 and Company number: C�009796). The address of its registered office is 6th Floor, Park House, 116 Park Street, London, W1K 6AF. 

## **2. Accounting policies** 

## **2.1 Basis of preparation of financial statements** 

The financial statements have been prepared in accordance with the Charities S�RP (FRS 102) - Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011. 

Restore the Music UK meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy. 

## **2.2 Going concern** 

The Trustees and management have been monitoring the potential impact of Covid-19 on its activities. The Trustees believe that the Charity�s financial resources are sufficient to ensure the ability of the Charity to continue as a going concern for the foreseeable future and that there are no material uncertainties about the Charity's ability to continue, being at least twelve months from the date of approval of these financial statements and therefore have prepared the financial statements on a going concern basis. 

The Charity has full funding in place for the year ahead which will allow for both the objective of the Charity (funding the provision of music to school-going young people) as well as covering the costs of delivering the programme. Should a repeat of the Covid style shutdown scenario occur, this will enable the charity to maintain its core objective and delivery at the same level as the crisis year of 2019�20. 

## **2.3 Income** 

All income is recognised once the Charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably. 

Legacies are recognised on receipt or otherwise if the Charity has been notified of an impending distribution, the amount is known, and receipt is e�pected. If the amount is not known, the legacy is treated as a contingent asset. 

Grants are included in the Statement of financial activities on a receivable basis. The balance of income received for specific purposes but not e�pended during the period is shown in the relevant funds on the �alance sheet. Where income is received in advance of entitlement of receipt, its recognition is deferred and included in creditors as deferred income. Where entitlement occurs before income is received, the income is accrued. 

Cash donations are recognised on receipt. �ther donations are recognised once the Charity has been notified of the donation, unless performance conditions require deferral of the amount. Income ta� recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation. 

Page 12 



## **RESTORE THE MUSIC UK** 

## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022** 

## **2. Accounting policies (continued)** 

## **2.3 Income (continued)** 

## **2.4 Expenditure** 

��penditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. ��penditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. 

��penditure on raising funds includes all e�penditure incurred by the Charity to raise funds for its charitable purposes and includes costs of all fundraising activities events. 

��penditure on charitable activities is incurred on directly undertaking the activities which further the Charity's objectives, as well as any associated support costs. 

Grants payable are debited to the Statement of Financial Activities when an undertaking to pay the grant during the financial year has been entered into. 

All e�penditure is inclusive of irrecoverable �AT. 

## **2.� Tangible fixed assets and depreciation** 

Tangible fi�ed assets costing �100 or more are capitalised and recognised when future economic benefits are probable and the cost or value of the asset can be measured reliably. 

At each reporting date the Charity assesses whether there is any indication of impairment. If such indication e�ists, the recoverable amount of the asset is determined to be the higher of its fair value less costs to sell and its value in use. An impairment loss is recognised where the carrying amount e�ceeds the recoverable amount. 

Depreciation is charged so as to allocate the cost of tangible fi�ed assets less their residual value over their estimated useful lives, using the straight-line method. 

Depreciation is provided on the following basis: 

Computer equipment - 33� 

## **2.6 Debtors** 

Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid. 

## **2.7 Cash at bank and in hand** 

Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account. 

Page 13 



**RESTORE THE MUSIC UK** 

## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022** 

## **2. Accounting policies (continued)** 

## **2.� Liabilities and provisions** 

Liabilities are recognised when there is an obligation at the �alance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably. 

Liabilities are recognised at the amount that the Charity anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide. 

## **2.� Financial instruments** 

The Charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. �asic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value. 

## **2.10 Finance leases and hire purchase** 

Assets obtained under hire purchase contracts and finance leases are capitalised as tangible fi�ed assets. Assets acquired by finance lease are depreciated over the shorter of the lease term and their useful lives. Assets acquired by hire purchase are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the Charity. �bligations under such agreements are included in creditors, net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the Statement of financial activities so as to produce a constant periodic rate of charge on the net obligation outstanding in each period. 

## **2.11 Pensions** 

The Charity operates a defined contribution pension scheme and the pension charge represents the amounts payable by the Charity to the fund in respect of the year. 

## **2.12 Fund accounting** 

General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Charity and which have not been designated for other purposes. 

## **3. Critical accounting estimates and areas of judgement** 

�stimates and judgements are continually evaluated and are based on historical e�perience and other factors, including e�pectations of future events that are believed to be reasonable under the circumstances. 

Critical accounting estimates and assumptions: 

Recognition of income from grants requires judgement. See note 2.3 for the accounting policy for grant income. 

Depreciation is estimated at the rates detailed in note 2.5, the carrying amount of assets is detailed in note 12. 

Page 14 



## **RESTORE THE MUSIC UK** 

## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022** 

## **4. Income from donations and legacies** 

|**Unrestricted**<br>**funds**<br>**2022**<br>**£**<br>**Grants and donations**<br>The Gordon � Jenny Singer Foundation<br>185,000<br>�ther donors<br>27,981<br>The �ig Give<br>64,743<br>**Total 2022**<br>277,724<br>_Total 2021_<br>_319,071_|**Total**<br>**funds**<br>**2022**<br>**£**<br>**1��,000**<br>**27,��1**<br>**64,743**<br>**277,724**<br>_319,071_|_Total_<br>_funds_<br>_2021_<br>_£_<br>_185,000_<br>_67,891_<br>_66,180_<br>_319,071_|
|---|---|---|
||||



## **�. Expenditure on raising funds** 

## **Costs of raising voluntary income** 

|**Unrestricted**<br>**funds**<br>**2022**<br>**£**<br>�vents costs<br>85,456<br>Film production<br>-<br>Social media costs<br>7,043<br>92,499<br>_Total 2021_<br>_10,334_|**Total**<br>**funds**<br>**2022**<br>**£**<br>**��,4�6**<br>**�**<br>**7,043**<br>**�2,4��**<br>_10,334_|_Total_<br>_funds_<br>_2021_<br>_£_<br>_5,944_<br>_840_<br>_3,550_<br>_10,334_|
|---|---|---|
||||



Page 15 



## **RESTORE THE MUSIC UK** 

## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022** 

## **6. Analysis of grants** 

|**Grants to**<br>**Institutions**<br>**2022**<br>**£**<br>Grants<br>270,000<br>The Charity has made the following material grants to institutions during the year:<br>**Name of institution**<br>�ak Wood School<br>Walthamstow Academy<br>Paddington Academy<br>Grafton Primary School<br>Grasmere Primary<br>Capital City Academy<br>�asis Academy �nfield<br>Gladesmore Community School<br>St Anne's Catholic High School for Girls<br>Robert Clack School<br>Ark Acton Academy<br>North Harringay Primary School<br>The Forest Academy<br>St Mary's N8 Primary School<br>Duke's Aldridge Academy<br>St George's C of � Primary School|**Total**<br>**funds**<br>**2022**<br>**£**<br>**270,000**|
|---|---|
||**2022**<br>**£**<br>**20,000**<br>**20,000**<br>**20,000**<br>**10,000**<br>**10,000**<br>**20,000**<br>**20,000**<br>**20,000**<br>**20,000**<br>**20,000**<br>**20,000**<br>**10,000**<br>**20,000**<br>**10,000**<br>**20,000**<br>**10,000**|
||**270,000**|



Page 16 



## **RESTORE THE MUSIC UK** 

## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022** 

## **7. Analysis of expenditure on charitable activities** 

## **Summary by fund type** 

|**Unrestricted**<br>**funds**<br>**2022**<br>**£**<br>Charitable activities<br>398,466<br>_Total 2021_<br>_281,885_|**Total**<br>**funds**<br>**2022**<br>**£**<br>**3��,466**<br>_281,885_|_Total_<br>_funds_<br>_2021_<br>_£_<br>_281,885_|
|---|---|---|
||||



## **�. Analysis of expenditure by activities** 

|Charitable activities<br>_Total 2021_|**Grant**<br>**funding of**<br>**activities**<br>**2022**<br>**£**<br>270,000<br>_163,336_|**Support**<br>**costs**<br>**2022**<br>**£**<br>128,466<br>_118,549_|**Total**<br>**funds**<br>**2022**<br>**£**<br>**3��,466**<br>_281,885_|_Total_<br>_funds_<br>_2021_<br>_£_<br>_281,885_|
|---|---|---|---|---|
||||||



Page 17 



**RESTORE THE MUSIC UK** 

## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022** 

## **�. Analysis of expenditure by activities (continued)** 

## **Analysis of support costs** 

|Staff costs<br>Depreciation<br>Professional fees<br>Rent of office space<br>Website and IT cost<br>Travel and subsistence<br>�ank charges<br>�ffice costs<br>Insurance<br>Accountancy and Independent ��aminer's fees<br>�ther governance costs<br>Advertising and Marketing<br>**�.**<br>**Independent examiner's remuneration**<br>Fees payable to the Charity's independent e�aminer for the independent<br>e�amination of the Charity's annual accounts<br>Fees payable to the Charity's independent e�aminer in respect of:<br>Preparation of financial statements<br>�ookkeeping and payroll<br>Fees paid to previous e�aminer|**Total**<br>**funds**<br>**2022**<br>**£**<br>**10�,�72**<br>**��3**<br>**�**<br>**�,400**<br>**2,4�6**<br>**1�0**<br>**4**<br>**11**<br>**7�7**<br>**12,64�**<br>**�**<br>**4��**<br>**12�,466**<br>**2022**<br>**£**<br>**2,100**<br>**1,�40**<br>**6,000**<br>**�**|_Total_<br>_funds_<br>_2021_<br>_£_<br>_90,521_<br>_1,118_<br>_1,050_<br>_5,400_<br>_7,461_<br>_1,576_<br>_326_<br>_662_<br>_313_<br>_9,996_<br>_126_<br>_-_<br>_118,549_|
|---|---|---|
|||_2021_<br>_£_<br>_2,000_<br>_1,750_<br>_3,300_<br>_1,280_|



Page 18 



**RESTORE THE MUSIC UK** 

## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022** 

## **10. Staff costs** 

|Wages and salaries<br>Social security costs<br>Contribution to defined contribution pension schemes|**2022**<br>**£**<br>**�6,277**<br>**�,066**<br>**1,22�**<br>**10�,�72**|_2021_<br>_£_<br>_83,049_<br>_6,249_<br>_1,223_|
|---|---|---|
|||_90,521_|



The average number of persons employed by the Charity during the year was as follows: 

||**2022**|_2021_|
|---|---|---|
||**No.**|_No._|
|Administration|**1**|_1_|



The number of employees whose employee benefits (e�cluding employer pension costs) e�ceeded �60,000 was: 

|||**2022**|_2021_|
|---|---|---|---|
|||**No.**|_No._|
|In the band �80,001|- �90,000|**�**|_1_|
|In the band �90,001|- �100,000|**1**|_-_|



Remuneration of key management personnel, defined as the C�� was �105,572 _(2021 - £90,521)._ 

## **11. Trustees' remuneration and expenses** 

During the year, no Trustees received any remuneration or other benefits _(2021 - £N��)_ . 

During the year ended 31 March 2022, no Trustee e�penses have been incurred _(2021 - £N��)_ . 

Page 19 



## **RESTORE THE MUSIC UK** 

## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022** 

## **12. Tangible fixed assets** 

|**Cost**<br>At 1 April 2021<br>At 31 March 2022<br>**Depreciation**<br>At 1 April 2021<br>Charge for the year<br>At 31 March 2022<br>**Net book value**<br>At 31 March 2022<br>_�t 31 �a��� 2021_|**Computer**<br>**e�uipment**<br>**£**<br>**2,677**|
|---|---|
||**2,677**|
||**�14**<br>**��3**|
||**1,407**|
||**1,270**|
||_2,163_|



|**13.**<br>**Debtors**<br>Prepayments<br>Gift aid recoverable|**2022**<br>**£**<br>**20,�17**<br>**2,�00**<br>**23,317**|_2021_<br>_£_<br>_11,888_<br>_-_|
|---|---|---|
|||_11,888_|



Page 20 



## **RESTORE THE MUSIC UK** 

## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022** 

## **14. Creditors: Amounts falling due within one year** 

|�ther ta�ation and social security<br>�bligations under finance lease and hire purchase contracts<br>�ther creditors<br>Accruals|**2022**<br>**£**<br>**2,1��**<br>**333**<br>**2�7**<br>**6,70�**<br>**�,4�7**|_2021_<br>_£_<br>_1,278_<br>_732_<br>_226_<br>_6,480_|
|---|---|---|
|||_8,716_|



## **1�. Statement of funds** 

## **Statement of funds � current year** 

|||||**Balance at**|
|---|---|---|---|---|
||**Balance at 1**|||**31 March**|
||**April 2021**|**Income**|**Expenditure**|**2022**|
||**£**|**£**|**£**|**£**|
|**Unrestricted funds**|||||
|General Funds|**110,�4�**|**�36,764**|**(4�0,�6�)**|**1�6,747**|



Page 21 



## **RESTORE THE MUSIC UK** 

## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022** 

## **1�. Statement of funds (continued)** 

## **Statement of funds � prior year** 

|**Unrestricted funds**<br>General Funds<br>The Gordon � Jenny Singer<br>Foundation<br>**Restricted funds**<br>�ig Give<br>**Total of funds**|_�alan�� at_<br>_1 ����l 2020_<br>_£_<br>_13,596_<br>_-_<br>13,596<br>_70,500_<br>_84,096_|_�n�o��_<br>_£_<br>_119,071_<br>_200,000_<br>319,071<br>_-_<br>_319,071_|_����nd�tu��_<br>_£_<br>_(122,719)_<br>_(169,500)_<br>(292,219)<br>_-_<br>_(292,219)_|_T�ansf��s_<br>_�n�out_<br>_£_<br>_70,500_<br>_-_<br>_70,500_<br>_(70,500)_<br>_-_|_�alan�� at_<br>_31 �a���_<br>_2021_<br>_£_<br>_80,448_<br>_30,500_<br>_110,948_|
|---|---|---|---|---|---|
||||||_-_|
||||||_110,948_|



## **Fund transfers** 

A transfer has been made from the restricted to unrestricted fund to represent funds from the �ig Give which became unrestricted as a result of Covid-19. 

## **16. Analysis of net assets between funds** 

## **Analysis of net assets between funds � current year** 

|**Unrestricted**<br>**funds**<br>**2022**<br>**£**<br>Tangible fi�ed assets<br>1,270<br>Current assets<br>164,974<br>Creditors due within one year<br>(9,497)<br>**Total**<br>156,747|**Total**<br>**funds**<br>**2022**<br>**£**<br>**1,270**<br>**164,�74**<br>**(�,4�7)**<br>**1�6,747**|
|---|---|



Page 22 



## **RESTORE THE MUSIC UK** 

## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022** 

## **16. Analysis of net assets between funds (continued)** 

## **Analysis of net assets between funds � prior year** 

|Tangible fi�ed assets<br>Current assets<br>Creditors due within one year<br>**Total**|_�n��st���t�d_<br>_funds_<br>_2021_<br>_£_<br>2,163<br>117,501<br>(8,716)<br>110,948|_Total_<br>_funds_<br>_2021_<br>_£_<br>_2,163_<br>_117,501_<br>_(8,716)_<br>_110,948_|
|---|---|---|



## **17. Reconciliation of net movement in funds to net cash flow from operating activities** 

|Net income for the year (as per Statement of Financial Activities)<br>**Adjustments for:**<br>Depreciation charges<br>Increase in debtors<br>Increase�(decrease) in creditors<br>Loss on disposal of fi�ed assets<br>**Net cash provided by operating activities**|**2022**<br>**£**<br>**4�,7��**<br>**��3**<br>**(11,42�)**<br>**1,1�0**<br>**�**<br>**36,443**|_2021_<br>_£_<br>_26,852_<br>_1,117_<br>_(4,058)_<br>_(14,111)_<br>_76_|
|---|---|---|
|||_9,876_|



## **1�. Analysis of cash and cash e�uivalents** 

|Cash in hand<br>**Total cash and cash e�uivalents**|**2022**<br>**£**<br>**141,6�7**<br>**141,6�7**|_2021_<br>_£_<br>_105,613_|
|---|---|---|
|||_105,613_|



Page 23 



## **RESTORE THE MUSIC UK** 

## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022** 

## **1�. Analysis of changes in net debt** 

|Cash at bank and in hand<br>Finance leases|**At 1 April**<br>**2021**<br>**£**<br>**10�,613**<br>**(732)**<br>**104,��1**|**Cash flows**<br>**At 31 March**<br>**2022**<br>**£**<br>**£**<br>**36,044**<br>**141,6�7**<br>**3��**<br>**(333)**<br>**36,443**<br>**141,324**|
|---|---|---|



## **20. Pension commitments** 

The Charity operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the Charity in an independently administered fund. The pension cost charge represents contributions payable by the Charity to the fund and amounted to �1,229 _(2021: £1,223)_ . At the year end contributions payable amounted to �257 _(2021: £226)_ and are included in other creditors. 

## **21. Related party transactions** 

During the year a grant of �200,000 _(2021: £200,000)_ was received from the Gordon and Jenny Singer Foundation, of which the Trustee Gordon Singer is President. The grant is unrestricted. In the prior year Gordon Singer donated �10,000 in advance of the 2021 Gala Dinner which was agreed as a general donation regardless of the event taking place. 

Page 24