Charity number: 1172363 RESTORE THE MUSIC UK TRUSTEES, REPORT . INDEPENDENT EXAMINER'S REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 RESTORE THE MUSIC UK CONTENTS Page Reference and administrative details of the Clwlty, its Tru5t••s and adviserts Tru5te8s' report Truslee$' responsibilities stst¢m¢nt Independont ex•mlne¢s report Sl•toffl8nt of fm•n¢i•l a¢tivitles 10-11 12 Balance sheet 13 Statomfjnt of cash flows 14 Notes to the financSal statements 15-31 RESTORE THE MUSIC UK REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 PAARCH 2024 Trustees IAS D M Garmlola Mr G M &"nger Ms S J Rajani Charlty rryls¢er•d nUM￿r 1172363 Principal *)ffi¢e Park House 116 pa￿ Street London W1K6AF Chiel executive officer Polty M Independent Examiner Cr￿e U.K LLP Chartered Ae¢(yMtants Fourth Floor St j￿e$ House St James Square Chelleth*n GL50 3PR Bankers Nawest &*iss Cottage FirKhley Road Londorb NW3 5JN Pag8 1 RESTORE THE MUSIC UK TRUSTEES. REPORT FOR THE YEAR ENOED 31 MARCH 2024 The Trustees wesenl their rep￿( and fin￿1￿ statements year ended 31 M¥ch 2024. The &COLmts hava baen prepared in &cord¥tt with the accounting polKies set out in note 1 to the accounts and compty with the charws govern1￿ drxument charrt￿ Act 2011 and "Accounting and Rgwrting by Charities.. Statement of ReC￿￿rnended Prxtice applicable to charlies prepariNJ their accounts in accordance wilh the Financial Reporting Standard in the UK and Republ￿ of Ireland IFRS 102).. Structure, govemance and management Restore the Music UK fRTM Ulel is a Charita1￿ irwporated ¢)rg?nlsoti￿ *)d was entered on the Register of Charities on 31 March 2017 hobjs Charity nUMt￿ 1172363. The Conslrtution was effective from that date. 11 is exempl frcth taxation. The Tru$tees who during the sear aThJ up to dae of $*Jnature of the finan¢ial stslemenls were". Ms D M Gandola Mr GM Singer Ms SJ Rajar¥ Trustees are 4pointed thr￿Jh a process of reCcfflmeThJat￿Jn and inlw*H. In good time before a Trustee is due lo step down suggesb.ons for a replacement &e made arKI possible candbjaes ar& approached. Shortli$led candidates are then inteNievmd by a trustee and the CEO, th) mae a ￿0Mmendation lo the other Trustees. The ¢)vernding aim is to ensure that trustees have a skilbd well silted to the dNerse activilies covered by our grant givir¥J. Inductlon and Tralnlng of Trust•es Pollcy 1. RTM reeognises that an inductK)n prtsaramme 15 vilal to ￿5￿re that new Trustees thrKC￿9hIY underSt￿d the work of the organisation. the demarKls. and requirements of role have accepted. 2. All new Trustees will receive knks lo key documents. or athse(I where they b8 found. relating to the Ch8rty wth an explanat￿ crf their purpose aThJ effect. wth this informalion a new Trustee wll be able to make effective contributions as qu￿lY as wssible. 11 is the perSrykl respon￿bIlIty of Trustees to ensure they are infom*d of the pOI￿leS and key documents of the Charity. 3. Each n8w Twstee will have a be$r￿(e Ind￿ pl￿1*d xcor¢*'ng lo thgir individual needs and requirements. In every case however. links to certain d￿urnents WAI be or thsed lo where tlw ¢ be found. These are lisled beh)w_ 4. At the earlie$l opportunity folthmng receipt of the above ¢*Jcum8nls. the Chaw or a delegated Trustee arranges to me81 V*ith the new trustee to discuss the current w(Mk Pri￿rtieS of the Trust. answer any questions about roles and respon%bditss, and confirm tnie scale5 re*nl to the new Trusleg's skill set. S. The Chair or delegated Trustee also re¥￿¥$ the $kM$ a￿j11 the new trustee and together they d8vise a m¢ye detsiled bespoke proar8mme of mentoriNJ and trainirg. (￿CIL￿lIng the Trt￿ts ccthpuleT systems. processes, prc¢edures) to be Ur￿rtakeTh over the fIythc￿nlThj Tralnlng Commitment lor Trustees Every trustee completes a skils aLAIit every year is 5￿Ported to undert*9 trainmg to meet any emergiNJ trainirKJ needs. In addrtion, the Trust supports trairurMJ lo meet Ihe need cl the Organisatic￿ as il ¢xcurs al other limes of th& year. Key &)cuments.' . The Charitys goveming th¢wnents. . Latest annual report and ￿coUrt¥. . Minutes of last two meetings. . Charity Commission Guidarte'The Essential Trustee. wthat you need to kTh)w {CC3). . Copie$ of RTIA pOI￿leS. • Examples of any fcKmal administratibt d￿Uments relatiNJ to Charity and the Trustees. . A copy of the Skims Audit for cunpletion and retum. . A copy of the Register of Inleresls for ccXnpletic￿ return. . Document confimin9 th81 slhe is suitst4e for beirwJ a Twstee. r￿uIr￿￿ synalure and a retum date. Page 2 RESTORE THE MUSIC UK TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 The CEO, Polty Moore. has hands ￿ day-tw responsibilty for all wects of the Charitys gr(rMh. perfornance, Strategy and delNery. Thi5 incknles. but not limited lo, presgnfing lo Trustees. fi'nan¢ial overview. marketing and brand awareneu ¢)PP)rtunths, mw dcthjr relations. management of digital platl¢ym$ and all communicatKM and fundraising ¢￿paIgn5. The CEO is r8sponsibl8 for the management of the grant programm8 - InchJd￿g relaionships with w. present a)d future grantee5. ￿ I￿*￿Ing prcgramme fcrfecasts on a roNing 3 ye¥ vvw. Additionalty, all events. from conceptval stage to F￿t418￿very. are deswJned. managed and delNered by Pol Moore. These include the Steinway Masterckns. Battle of Ihe Bands. fikn produdion on location. Texhers, Celebration Dinner aThJ all fundTaisirvJ events inchjding the annual Gab Fundraiser. Trustees a￿ also wularty updated on ai aspects of Ihe ch¥iVs Pr￿J[esS through emails Trustee approval is aw sought for ￿ expenditure over £3.¢￿. The aim of the Charty is to keep all admnislrtht Costs as as t￿￿*)1? and ensure that any expenditure is at all times valAI. n8cessary and valL* a focus on the CC￿ ￿lson d'etre of the programme. ObJ¢ctSves and actlvlfjes Under Ihe Constilutim, Ihe Trustees are eMp￿red to use all or any of capital for the provision of fin￿Cial assistance to stste prinary and Second￿ schools wi the UK in sole regard of Irelbuilding their music departments. Opera￿n8 of the Chwity are govwn•J by the Tn￿. The S￿r￿ary of the Trust is Polly Pknie. The Trustées have paid due rega￿ to gullarte iss￿1 by the Clwity c(xnmW￿n in deciding vthat actwities tho trust strK)uld undertake. RTM is a Dverhe•thigh inwxt charity that is changing the shape of music provi8ion in stale schools. specffically those in areas d high soci04concATric deprivation. Th8 foundir¥J vision of the Charity is to deliver transformati￿ opportunities muttple p*hways lo all ￿￿n9 people and with il the benefts of social ￿hes1On and mci)ility that a levelling up in MUS￿ educatw can delNer. The RTM C4ital Grant Prc4Jramme has funding footy>rint of £2.6 across LontS)n. M￿hester. Ne4vcastle and Birrningham and a total reach of over 110.000 yourwJ people. Public benefit The purpose of RTM is raisirrfJ nb)ney to rebuikl school MUSK departments in h9avily deprived areas & make fflus￿ ac¢es$tJle & available lo all Y￿19 people thr(MwJhcMJI their educ8tM)n. The RTM Capital Gwl Programme addr8SSOS tha hole created by austerity & fundir@ cuts in stale education. reestsblishing music as a core subj'ect priorty in all schcds and h*'ng to fxbwe ￿he$1)n a¥J mobi&"ty. RTM funding is delNered directly to stste schLK4s vkA the scly￿1 Grant Progrwnme. This programme allocates Capital Grant Avrdrd$ ￿ £10,Oc￿l to £20.000 to 5chooLs of above avwage F￿ School Meals and Pupil Premium. Thg RTM vision is to enatrk a￿$$ lo MUS￿ for all students - a ￿tal resource as both a universal language but also the gateway lo new opportunities. unlccking hKlden ta￿ts ￿ the buildng of euhural caprtal. Students are encouraged to lake iistnjments home and to suppJ1 they pews in ensembles both in and ijut of the classroom. Impact ranges from developing confNJence. asriration. arKI positNe att4Lth to a greatw understanding & acceptarKe of diversty vAthin our globa ¢unU￿. RTM works wrth ktal p￿trterS to identrfy $d￿lS best pkced to optlnise the funding and delNer maximum impact. These include Prem￿[ League football ¢￿b$ sueh as Arsenal FC and Ne•vcaslle FC. Page 3 RESTORE THE MUSIC UK TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 PIARCH 2024 A school's eligibility is inilialty delermined by whether il has aLbJve average (and rf so how much above) numbers of studen15 on Free School Meds and % Pupil PremKrn but *ryll also Iwk at kvels of mc&ility and English as an Addilb)nal Language. In tl* grant ¥Jpliealion. schc4)Is are required to demonstrate a dear and sustainable strategy for d￿'vering mustc provision of M￿muM b8nefrt to the students over a 3 year per￿. Grant awards arg maximum £10.000 for primary schoJls and £20,c￿ for seC￿Jane5 and applicalKJns must include an ilemised breakdown of proposed expendrture. This progr*nme is vital in areas Whe￿ the cost of access to a MUS￿ eduealion are prohibitively hb3h for most parants the b8nefrts of music are therefore not available or offered lo most students. BeceffliNJ a 9ranlee ena￿ a school lo bulky up the cultural capital of their studen15 as well a$ offering a hugety valuable resource for mental V￿*)eing - a need mcye dgsperale than ever foll¢)V*ing the pandem￿. Grant applr*ions are approved by the RTM Board of Twstees and Grantees are eX￿ted to p&tie4p*e in RTM events and sh(pKase ther stLKlents and ne* Ixikties. Every RTM Grantee ￿hr￿lI i¥ b3alty ot4iged to subm* an annual PrCrfd￿S$ report which detalls all aspects of the impact of the funding. Typi¢alty this inclu¢Je detai15 of musi¢4 wfornan￿. quanlitatNe data on students participating in ensemble groups. uptake (rf instru1￿n￿ leaming & ex￿ board iesulls. Success is measured not on grade resutts alone t￿t also by the inws&l particWK)n Yi the musbc offering e.g. through recording sludenl numbers chcosing mu* GCSEIBTEC A Level alongside acadamic subjects. Also increased attendance in extrxurricukr musi¢ departmert dubs eg. orcP**ra, S￿)ba b8nd, Street Choy. RKords of acl¥evements also be anecd￿ I a¥ wdl as qUanL￿l¥e- where. for ex￿pie, learning lo play the drums has clearty played a trwsform*Ksnal role in a chil¢fs abilty to engage w￿h school lrfe. or for child with scarce English vocabulary the option to fuKJ vixe through pl￿￿ an instrument can be pricele5$. All of this data and leedbxk LS rewewed aknngside the oryinal grant aFvI￿l10n to enswe adherence to approved vision and strategy and a c(mm5tmgnt to wsla'nable music prwsi¢)n. Going foThrnrds ￿ hop8 to track the wider impact of improved music W￿ls1On in the attainment of young people in areas of high deprivation. This will be done by monrtorir¥J a range of statistics including. but not limited to whole school attendance rnles. exdusK)n rates and ex￿ results. The Chantys incc*n8 is d•￿ted aknM>st entirdy to sthool gmts. The Ch￿5 offer is publicised widety thr￿ social rwjia, th9 Chartys website. ￿lat￿n$ wilh local MPS. mu¥1¢ industry part￿1pants and by of mouth. App1K*1￿$ are m￿e fr￿n al over the UK but the fundiNJ progranme Is currenty restricted to schools in London, Manchesler. Newcastle and Birmingham. Appkants are required lo say what benefit a grant wll bring lo their school and its students as well as to precisety Ihe puthing strategy wrth xcornpanying description of intended outccrfnes. The trustees have given due ccrflsideral1￿ to th8 Charty CommissK>n's pul￿￿$hed gu￿￿Ce on the Public Benefrt requiremenl under the Charthes Act 2011. Grant maklng pollcy RTM is committed lo delivering the founding vision of the Charty by 8n*lww access to rnus￿ provision for every child. The poI￿Y cl the Schc*)l Music Grant Progranme to invesl in schools w￿? clearly demonstrate a determinth.on to deh'ver this Vision and supph)rt the need for MUS￿ lo te m•J8 freely availabl8 within the schc(Jl environment. The procethre for making grant a•Rrds through a robust application process wrth all recLNnmerM4ed Sthmi￿10nS presented by the CEO to the Board OlTn￿1ees. There 15 a fonnal furbJwwJ agreeM￿t in pl¥e for 8112Fproved fft ￿ardS and RTM demands integrity and transparency from all recipients ol rts grants. It 15 v*al that all activities funded by RTM are carriod out lo the highest and most 8th￿1 standards and relknt the priwlles of diversty. equalty and inchJ5ion fundamenlal to the demographic which RTM aims to $upporL The Fundir¥J Round process tskes p￿e a )Ear arKJ aims to alkncate all charty income OLrtside of operating costs and the reserve p)t (see belwl so ￿ irtcrfne i% e*r*d foThArd in to the next financial year. P4e4 RESTORE THE MUSIC UK TRUSTEES. REPORT {CONTINUEDI FOR THE YEAR ENDED 31 MARCH 2024 Achievements and perlorniance The overall policy of the Charity is to fvNI Provisi￿ of Mus￿1 instnjments and tuition for every ¢hikl in state primary and seccffldary education. Grant awards were made to 40 schools for the year ended 31 March 2024. Of these. 29 grants we the full caprtal grants of £10,000 and £20.OC(l and then a further 2 words ￿ £2,000 awarded lo the 2 winn&rs of the RTM Battle of the Bands ¢ompetlKJn which locth Juty 2023. In •Jdrtion. an exceptional offering from a one- lime TeChn￿￿Y Fund enabled a further 10 9￿1 &vards of £11.(h)Q each. Detats are contained in Note 7 lo the ¥counts. Granlees are enC￿raged to participate in varwyjs RTM events during the course of the year and li 2023124 these included a {malchl fundraising eampaon ￿ Grve Christh)as Chaler¥Je and the Gala Fundraiser Dinner hdd in May 2023, attended ty RTM Dc¥￿5. In addition to the gwl awards m*. the Charty has m*Je svwificant partnerships resulting in maiN new funding acliwty and events for current grantees. The charty hell a one-time music lechnclryJy funding round on behalf of US (¥ganisatiLM Soundslart FourKlation. vras selected for financial support by the prokop￿ya Foundation and received ongoing support frcm the Story of Chn"$tmas Charty Gala Concert. The Steinway partnership continued apace enabling the delivery d the Sl&nway master¢lass to RTM schools. Music industry relat￿$ with RTM have continued to develco fvjurtsh. This ir￿lUded hosting a sch(K)l event on behalf of Warner Classies signed artist RIOPY as V•EII as delrvering oPFQrt￿ltles presented as a result of tha 3 year partnership wth the SONY Music UK &￿al JusiKe Fund vthich has enabled expansion oflhe G￿1 Programme in lo Birmingham, Manche$ler and Ntr•Thslle. All 3 ar&qs selected for their high levels of deprivation whilst so l>)asling rich se￿5 of cultural history the arts which wil further enable a broader offefmig ol value added (wportunilies to RTM Grantees e.g. must masterclasses. behind the scenes workshops and general access lo concerts. perf¢xm&)ces and meetings ￿1h wof0$$i￿* of and in music industry. May 2023.. 2 hour free masterdass hosknj by Ste1rv￿ *1isl and wformer at Stein￿aY London. attended by over 100 RTM studenls ￿ed from 7 to 18yTS. May 2023.. Annual Gaa Fundratser Dinner attended by 185 dontxs. The major annual fundraising event which fvnds the majonty of the Q2 2023 Funding Round and funts are raised through table sales. pledges aThJ live and silent auct￿￿ sales on n*Jht. Juty 2023: Battle of the Bands - Ihe RTM amual band CC￿petrt￿ for RTM $clkn)ols. Hosted by Skinners, Academy. Hacknw. £4.OLKI pnze in Ihe fomi d grnnt •4Ards fer up to 2 schcK4&12 awards of £2.oc￿ e￿h). Juty 2023 FurbJirwJ Round." G￿t awards tot*vJ £420.Th)O alkxated to 29 pnmary and secondary schry)Is across London, Manchester. Ne•Kastle arrtj 8imi¥*m {enablvig access to must for over 16.000 yosJrKJ people by fundiNJ new resources for th&r MUS￿ departments). October 2023.. Celebr*w)n Dinner hosted by RTM al RTM Hewjs of MUSK to thank the teaching staff for their impadful delrvery of music edwation wth RTM fundirKJ. December 2023.. pathipation ￿ B&3 Gpm Chri8tmas Chd*e. a major online fundraising campa*Jn. Raised total of £52,372. (To be awart1ed in sch￿1 grants wxcrfning tunding round in March 20231. This fvndraisirkg campaign is marwed through the onlme Big GNe F4*form over Ihe ￿urSe of 7 days and all funds are matched by RTM Ch￿p10n The Chitdh¢TrJ Trust varNJus pledges. The week is celebrated with a musical evening held at Steinway Hall Wigmore Street. Lond￿ featuring perfmnances by the students ffom the winning ensembles of Battle of the Bands {which takes pL¥e In earty j￿). Page 5 RESTORE THE MUSIC UK TRUSTEES. REPORT (CONTINUED} FOR THE YEAR ENDED 31 MARCH 2024 February 2024.. Collaboratwy) wih CASIO and Nath￿ Ake of m￿CheSter C&y F.C. to deliver free keyboards lo all RTM Manchester sehoc45. ActiTrRtion event hc*twJ by The East M￿Chester Academy featuring TEMAC music students ar¥J iTrperson attendarte by N*han. ca$￿ arnl RTM CEO Polty Slepan M￿re. Fgbfuary 2024.. SONYMUSK UK Be￿j th& Instrument inknatThE (a proyram whKh aims to piomotg music educatiorb career devel¢pmenl for young pw)le) - Activation Event hekl at Walker Riverside School, Newcastle. The e￿t compr*8d a personal appearance by Cele￿ated SONY arti$l DJ Sthak with live performance and inleraelive St￿Jent masterclass. the purpose of which to celebrate and exph)re a mus lechnc4ogy bundle funded by SONY in the fcrfm of a RTM grant award. The school selected was chosen due lo Ihwr rAJtslanding eNJagem8nt with RTM efforts lo champion MUS￿ edUcat￿n ￿thIn Walker and NeNb¢8St as a wha￿. The event itself was ol prmiolional value to Restore the MUSK wrfh regard to its contrbulion lo improving mU￿C provision in schools serying ¥eas of huh deprwation as well as ils collaborative approach lo delNering tan91t￿8 s¢*Jtions in uNlerser¥*J eunmunths. Mwch 2024 Funding R￿nd.. Grant tc4*YJ £180.(￿ a*xated to 11 prThary & secondary school$ across London. Manchester, Newcasts and BirMWvJh￿ offen'ry accrt$ to music for 8.OW+ students. Fundraising RTM carrw out a progrwn of fvndraising over the c￿lse of the year in ordar to 98nerate income for the RTM cap￿al Grant Programm&. RTM does not employ exlemal agencies lo carry out wofessKsnal fundraising ¢)n it8 behaw. FolowirwJ the irrplemerrtatKJn d the GeneA Data protect￿ Re9￿atIon {GDPRI 2018 and the UK GDPR January 2021). RTM reli8s cofksenl for all rts marketing &tivitss. In line wsth our Data Prole¢tv)n Pclicy, the charity does not sell and has not given dats to third parties ￿thout express pemIss￿n. Accass to the RTM datsbase by staff and volunteers is strKUy contrL*d varwng ¥¢es$ levels onty with the approval of the CEO. Any complaints rtteived duriThJ the year are rec￿. Trre no c￿npLaInts r￿eNed in year. RTM'S incom8 for the 12 months covered by thi5 report was £905,000, approximately 15% higher than the previous year. The grty•Ah in fundraising can be attrknuted to a number of factors but largety through ongDirMJ and new partnerships. such as SONYMusic UK a￿1 SOUNDStart Foundation Iwa Save the Music, US no profrt co1.cl as well as the various high profile activat￿ events with accompanying media coverage OLrtlined above. The tong term grty**h and sustslna￿"lity of RThl is dependenl a self-suslaining funding model in order lo be less exposed financidty to the erratic fundraiwng resuts of M￿v￿le physul events. A significant proportic￿ of the workiNJ hours of the CEO is deployed in this PLWPOSO. Notsvithstanthng the sentiment expressed above. Restore the Music ￿ntIl￿e$ to $t•3e one main Donor facing event on an annual basis. namety the -Gala Fundraiserf. This is a ticketed event held at a S star venue, attended by up to 200 of the top RTM donors. The [￿as1On 15 a Siwrf￿ant dale on the RTM calendar and 1$ designed to shcwcase the SC￿?1$. the do￿[3 assocthed brands and cc*npanies who are keen to support and champion investmenl in to MUS￿ margin8bsed ywng p8cpI8. In p8r50n fundrai$ing evènts aré a * s￿ree el irwne fcrf th8 charty, in part because the donors ￿liSh the opportunty to watch ￿ grantee stLKJents perfrym in turn uwires generous dOnat￿nS. Core cost of the event is approximatety on&third of revenue.. monEs we raised vo ttket sales, RTM Ishirts, raffle tickets (prize - the flwrs * Lw)ttle of thampagne on each tsble}, slenl and Live auction and pledges. All ￿emS which are aLKt*)ned off are gffted to ￿ charity by SLPPOrt&rs and donations are raised from priwate indiMdual5. The revenue Gala event accounts ts •proxThatety fv￿nty percent of total annual revenu8 and 1$ a vital part of the fundraising effort. The occasw also for unlwn*ed r￿lThg capacity and amplif￿ation of the voice and face of RTM- Ihe firture monetisation of is urv4uestionable but m)possible to fcrtcast. Page 6 RESTORE THE MUSIC UK TRUSTEES. REPORT {CONTINueD FOR THE YEAR ENDED 31 PIARCH 2024 Going foNMd the chanty wil continue to be c(￿Cer￿d to increasè the prc¢*(xtion of core funding streams versus fundraising events in order to protect aganst pandemic We cancelLglh)n $warios and the relkance on this income. Pay Pollcy The key management per$Mnel of the chanty cednprise the Bo*d of Trustees and th8 CEO and they are sponsible directing, controlh'ng. runnin9 arKI cpeiating the eharity on a day4W basis. All Trustees gNe their time freety no trustee remuneraticffi p&41 the ypar. Details of Trustee expenses and related pwty tranSxts"c￿S are disck15ed in rnl8$ 12 23. The remuneralh)n of Senior Management ICEOI is subject to revi&* and approval by the Board of Trustees. The package. which ccmprises a sdary and small. capped bjnus elemènt based on meeting fundr8iSiThJ tar9els, is designed lo ellsure the selectvJn and retent￿ of h￿h-qUaIlty leaders. 11 also ensures that RTM donor$, supwiers, volunteers. bene￿la￿ and the ￿)￿C reccrfjnrze the lnkxxtsnce we p*e on accountabilty in all aspects of our wcffk, inclLKling the determination of pay and benefrts of the senior management. All ￿pknYee saaries are reviv4Yèd annu*y. and aff￿dab1Ity, 8¢￿￿1¢ tren(ts and extemal pay mr)vement is L*en in lo *count. Rlsk managoment The Trustees rec(ywise that atthough the Charity g￿ralty operates in a risk environment. it does face operatK•nal and ￿anc￿e1 risks. Every effort is made to wt in plxe controls and prc¢edures that are de*gned to MIt￿ate identifEd risks. These *ldre5$ the fc47￿j'. The sustaina￿.1￿ of fvnds and in partKulw unrestrictsd fwKI$ The altocalion of restricted funds Financia control$ and ¥proval of eymliiure The cancellat#)n or postponement of events otlw fvndraisir¥J partner¥htps is a key risk for the charity. In Jdrtion, particular attefil￿ was paKI lo the charitys *Jilty lo reach its benefKraries through a Val￿tY of virtuavonline events *KI more attention paid lo the donor facing c￿nM3 strategy going foNMr(I specif￿allY with regard to updating on lal8sI Charity inibatNeS *KI cals to xtKJn. Detailed financial forecasting and 3 year forward modelry tskes place monthty but key assumption$ are conlinualy asses$ed arKI revised. These finan￿aL8 come WKJer monthty review by management and are presented to the Trusl88s bl4nC￿thty tor revi8W. a fomial Erwj Of Year review on completion of the Independent Examiner's Report. The Charity$ bank acec￿nts p*e al wilh ￿tWeSt Bank and we managed by CEO, Po*y Moore. Flnanclal review Ineome for the year was th)nalp)ns t￿ling £665.319 (2023." £%3.502) fr¢xn private individuals, FoLtndations arKI charitabl8 funds Ifor the purpose of schod grants and a¢kninislralive costs of the chartyl £239.73512023'. £224,803) from charitable athvthes. £599,210 12023.. £464,000} Wds spent on grant to 40 12023.. 34} stats and secondary schools across the UK. ￿pport costs lotslled £197.162 12023.. £175.448} a￿1 costs incumed on raising funds totslled £131.63912023'. £110,727}. Net los$ for the yw was £22.957 (2023. net irtome £38,130). Reserves policy Al the year end reser¥w ofthe Chwity V*we £171.920 12023: £194.877). In bne ￿th the intention slated in tho 2022r23 Annual Rewt. the charty ￿￿tinueS to maintain a 12 month ¢3perat￿nal cost reserves policy. Totsl reserve (in Ine wth current operational costl lo stand at no more than £200,000 and all other funds lo be allocakny via th8 RTM School Grant Prcgramme by the end of ea¢h financial year unles$ olhemse ￿re￿ with the Board of Trustees. Page 7 RESTORE THE IAUSIC UK TRUSTEES. REPORT (CONTINUED FOR THE YEAR ENDED 31 MARCH 2024 Futurn developments The Charty's obJectNe cmtinues to be to fvnd the provffjion of music to wery chld in stale pmiwy and secoThJary Sc￿018 across the UK. This objective wll be achieved via t￿￿ RTM Nationwide Expansion Pian using partnership core funding lo deliver the model in other principal clies. From Ihis poinl regional partnerships arKI fundraising acti￿tioS will enable RTM to achieve greater coverage and deliver it5 foundiivj NrysTron Wi greater scale vthilst ajhering to the founding on and l0w-overhealh￿h impxt modd. The Trustees thank and acknowledge the generosty of The Gordon and Jenny &"n98r Fijundation in the form of an annual grant award aThJ Contin￿ in their commitment to seeking addrtional funding extemal parties in order lo maintsin and gr(w the RTM Music Grwrt Prownme. The Charity runs an acti￿ fvrKITaising prOg￿rne for donors v¥i¢Jts evenl$ for student Part￿Ipation eg. steinway Masterclass and Batue of the Bands. the apPI￿a10n Pr(￿SS and hjrhjing model of the Grant PrL>aramme itself rwnains a virtua operation %￿l¢ti is fulty scalable and deliverable n *y location. RTM has full funding in pl&e for the year ahead ￿4¢h alkn¥ for both t1￿ obJ"ective of the chaTty If￿nd￿g the provision ot MUSK to scho)l%cMng Y￿n9 people) as *TII as covering the costs of delTveri1g the programme. The charity is fem lo have a sufficiently sized reserve sum and thus all other WK¢Jme lo be distslb￿ed via the School Grant Programme by end of rmanc￿l year. unforeseen restrths nofvthhstanding. It 1$ anticipated th* furKlraisin9 9rtr￿h wil eontinue in 2024r25 at a slohty slNer rate, in recogniknon of the mLttilude of global event$ and upheaval whith wil have lnwt8b￿ wnpaet on dC￿Or motwation. The charty will simpty continue lo owrate onty in line with its revenue for8casl and wil trim or grow the funding rounds accordingly. H(W•ever the charity natur• ho￿ that naI￿de expansion will Cont￿Ue and enable gro%th of the Sche￿1 Grant Programme in line with the F￿r*jIr￿J Ctrde of Govern￿ce OLrtlined alw. The Trustees are ccrfident that the on-9Jing pknnirKJ 7Mthin the ￿gani￿lI10￿ wll ensure thal RTM is in a positi.on to continue and thri4e for the foresee*ie future aNJ. thwdore. th& financial ststements have been prepared on this ba"$. Acknowledgement The Twslees wish to th￿k CEO. Polly Moore, for Outst￿dIng exe¢ution and delivery of the aims and purpose of RTM and note the SI￿￿￿¢an1 uplick in fun(kn"siThJ and gru*Ah of the charty and tts nat￿1[￿1de footprint. The Trustees recognise and ackn(Mfledge a remarkatAe jc*J executed by Polty Mo)re with integrty, determination arKI an urwmvering beliel in the vision ol RTM. Ap the members of the t4)*d ￿Tr￿lee$ Si￿ed on their behdr ty. Mr G M Slnger Chaii of Trustees Date.. I g/ii120 Page 8 RESTORE THE MUSIC UK STATEMENT OF TRUSTEES. RESPONSIBILThIES FOR THE YEAR ENDED 31 IAARCH 2024 The Trustees are responsknle for prep*r¥J the Trustees, rewl the financial statements in accordance with appI￿able law and Unitgd Kingdcth AcccHJntiry st￿ards {United Kingdom GeThera1￿ Aceepled Accounting Pr&tice). The law ap[l￿￿1e lo d￿r￿e$ in & Wales requires t￿ Trustees to prepare financial 5ts1ements lor each financial which gNe a true and h.r viw (rf th8 stste of affairs of th8 Charty and of its inccthing resources and applKation of res¢)urees. includiNJ ils incLyne and expendilurq lor that per¢od. In prep￿n9 these ffiTh8n¢￿1 statements. the Trustees ¥e required to.. select surtatrAe xcounting policies arKI then ath Ihw) conststenty. observe the methc*Js and pl1￿1p￿S cl the Charities SORP IFRS 1021: make judgements and a¢¢ounting estwnates that are rea5(￿able arKI pwdentr state whether applKable UK Accounting StarKlwds (FRS 102) have been foll)wed. S￿)Iec¢ to any material departures discb)5ed and explained in the financial statements" preparg the Imancial statwnenls on the goirg concem basLS unless it is inappropriate lo presume Ihal th& Charity wil continue in business. The Twslees are reswnsible fcff keeping *u*e accounlKy records that are $uffi¢ienl to $h¢)w and explain the Chartvs transactpjns and disclose with reaSOna￿e xcuracy at any time the financial position of the Charity and enable them to ensure that the f￿n¢la1 sL*ements compty with the Charities Act 2011, the Charty (Accounts and Reports) R4ulations 2008 ￿ the provisions of the Trust deed. They are also responsible foi safeguarding the assets of the ch￿'ty WKI her￿e reascrf* $tep$ for the preventim and detection of fraud and other ￿egUl￿111es. Approved by orde membern of the board of Tntstees ￿ s￿)￿d on ils behaw by.. Inger Ch r of Trustees Dale.. ISlii12021+ Page 9 RESTORE THE MUSIC UK INDEPENOENf EXAMINER'S REPORT FOR THE YEAR ENDED 31 MARCH 2024 Independent examinges r•port to the Tru5tws of Restore th• Muslc UK1lhe Charity'l I report lo the charity Trustees on my examinat￿ of the xcourts of the Chwity for the ended 31 March 2024. R•¥pon$ibiliti6s •nd basis of report As the Trustees of the Ch￿ty you are resw)nwbb the preparation of the ￿Ouftts in accordance with the requi￿rn￿ts of Charities Act 2011 (1he 2011 Arf). I report in respect of my examinalpjn of the CheJitys acccwnts carried out under section 145 of the 2011 Act and in ¢arrying wt my examination I haNe the appl￿b￿ DireclKfis given by Ihe Charity Commission undei Secti￿ 145(5)(bl of the 2011 ACL Indepmdent •X4vnlnerfs statsmenl Since the Chariils gross inccffle exceeded £250,c￿ your examiner must be a membef of a body listed in section 145 01 the 2011 Act. I ccfflfinn th* l am quth lo wd&take the exanmiation because I pAn a membei of The Institute of Chartered Account*ts Eruknj arKI Wales. which is on@ of th8 li5tad bodies. Yow attentiM is drawn to the fact that the Clwity has prepared the accounts in accordance %%ryth AC￿un￿.￿9 and Reporting by Chari￿.. SL*ement of Reccthmended Pracknce appl￿ to charities prep￿ng their accounts in accordance ¥￿th the Financial Repth'ng StaThJard app1Kab￿ in the UK and Rewblic of Ireland {FRS 1021 in prefe￿nce lo the Accounting and Rep)rting by Ch*ks". Statement of Reccffiw￿nded Practice ISSL￿1 on 1 April 2005 which is referred to in the extanl regu￿￿)n$ bul has been Wlthth￿. l undeT5tand that this has been ¢J)ne in order for the accomjnts to provide a true and fair vw in accordance wrth the Gener￿ty Accepted A¢¢ounling PrxtKe effecti￿ fty reportiNJ peiiods beginning on or after 1 January 2015. I have completgj my exwninaticffl. I confinn that no matters have clme to my altention in connection wilh Ihe examinatK)n giving me cause lo believe thal in any m*eTiJ respect.. accounting records were kept in res￿1 of Ch*ity as required by section 130 of the 2011 Act: or thg accounts do r¥Jt x¢ord ￿ tltr)se or the accounts do not comply with the appkable requirements conceming the form and content of accounts Sel out in the Charrties (Accoun15 arKI Reports) Regulalbons 2008 other than any requirement that the a¢¢wnts g￿t a Ime faif VEW whth Is a matter eonshfjered as part of an independent examination. I have no concems and have come xross no ther matters in C￿naCtM￿ with th8 e￿WnIna11on to vthich attention shc¥Jd be dra471 in this rerAxI in order to ena￿ a proper Unde￿ndIng of the ac¢ounts lo be reached. Page 10 RESTORE THE MUSIC UK INDEPENDENT EXAMINER'S REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 This report is made sc4ely to the C￿1￿$ Trustees. as a boty. in 8xcordance wth Part 4 of the Charities (Accounts aThJ Reports) RegulalTons 2008. My has been wdertaken $0 th* I mght sLqte to the CharilVs Trustees those matters I ￿ required to slate lo th￿ in an Irdependent examinerfs report and for no other purpose. To the full8sl extent permrtted bylaw, l <10 not ¥cept or assume responsibthty lo anyone other than the Charity and the Charws Trustees as a b&Jy, for my work or for this rep)rt. Signed.. Dat&l' 19 November 2024 Guy 8iggin ACA Cft7•ve U.K. LLP Chartered Aecounta Fourth Floor Sl Jame$ House Si James Square CN8ttenham GL50 3PR Page 11 RESTORE THE MUSIC UK STATEPIENT OF FINANCIAL ACTi￿nE5 FOR THE YEAR ENDED 31 MARCH 2024 Totsl fund$ 2024 Total fimds 2023 funds 2024 Note Incom• from". Donats'ons Charitable aGtNth'es 665,319 239.736 665,319 239,735 563.502 224.803 Total Income 90S,OS4 905.054 788,305 Exp•ndAturn on: Raising funds Ch8rit*Jle acbwbes 131,639 796,372 131.6YJ 796.372 110.727 639.448 Totsl exp•ndituM 928.011 928,011 750, 175 N•t MoV￿n•￿t In lund5 122.957 122,9571 38, 130 Roconclllatlon of funds: Total funds brouglrt fowdrd Net movement in fLX)ds 17 194.8TI 122,957 194.877 (22.9571 156.747 38, 130 17 Total funds cath•d forniard 171.920 171.920 194,877 The notes on pages 15 to 31 form part ofthese finar￿￿ statements. Page 12 RESTORE THE MUSIC UK BALANCE SHEET AS AT 31 MARCH 2024 2024 2023 Fixed assets Tangible assets urrent assets 13 1. 169 Debtors Cash at bank and in hand 14 23.155 197.163 10,331 200,045 Current liabiliti 220,318 210,376 Cieditofs.. arn￿nts faling due ￿1n year 15 {48.882) (16,668) Net currnnt assets 171.436 193, 708 Total n•t •$s•ts 171920 194.877 Charity fund8 Unre$lrided funds 17 171920 194,877 Total funds 171.920 194,877 The financial were appro¥vJ ￿ aulh￿￿ for issue by the Trustees ar)d signed on their beh*f by.. MrGMSin Chair of Trustees Date. Islii12-IIk The notes on pages 15 to 31 fom part ofthese fmwKral ststements. Pa98 13 RESTORE THE MUSIC UK STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2024 2024 2023 Cash flows from opernting actlvltles Net cash used in operating activits 19 {2.5631 59,160 Cash flows from investlng actlviljes Purchase of ta￿lble fixed assets {918) sh providèd byllused Inl Investlng •cthit*s 1918) Cash IIow8 from financlng acllvltigs New finance leases Repayments of fnance leases 638 (492) 1319) Not cash {us•d InyprovldBd by fi￿nCing a¢tivits {319) Changè In cash and cash equlvalènts In tho year Cash and cash equivalents * the beginn#￿ of the )w (2.882) 58.388 141.657 Cash and cash •quhal•nts at the end of the year 20 197.163 200.045 The notes on pages 15 10 31 fonn p*t of these fThmal 5L*ments Page 14 RESTORE THE MUSIC UK NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 General infonnati¢)n R￿lore the Music UK is a Charitable Incupor*ed Organi$ation registered in EngL2nd arKI Wales {Charty number. 1172363 Company number. CECrf)9796). The •Jdress of rts registergj office is 6th FI￿r. Park H￿Se, 116 Pwk Street. London. W1K &AF. Accountlng polkte¥ 2.1 Basls of preparatlon of finan¢i•l The financial slatements have been preparthl in accrtsKe the Chanlies SORP (FRS 102} - Accounting and Reporting by Charrties". Ststement of Recunmended Pr￿tiCe applicab￿ lo charthes p￿pering Ihgir accounts n xcordarKe wlh the FinaKial Rewrting stand￿ q)plicable #i the UK and Republic of Ireland {FRS 102) leffecti¥e 1 January 2019}, the Financial Reporting Standard applKable in the UK and Re￿bI￿ d Irel¥KI (FRS 1021 and the Charities A¢t 2011. Restore the Musr UK meets dermiti￿ of a publ￿ benefrt entty under FRS 102. As58ls and liabilities are initially rwnised at hist(YK4 cost or transxtion value unless othe￿iSe slated in the relevant accounting p)I￿y. 12 Golng concem The Trust88s believe that the Charitys finartkql resources are sufficient lo ensure the abilty of the Charty to continue a$ a gowig ¢on¢ern for the foreseeable future and th* there are no material uncerteinties about the Chartys thlty to cortinue. being at ￿a$1 twelve months from the d8te of approva of these fThnckql S￿1￿)ents and thpJefore have prepared the financial 8tatwnents on a going concem basis. The Charity has full fvnding in p*e ts Ihe yaar ahead vknith wll alk)w for both Ihe oty'ective of the Charrty Ifundiig the provision of MUSK to schc(￿oIng young people) a$ well as covering the costs of de￿VerIng the proJramme. The charity ts fe* lo have a suffKientty sized te$erve sum and thu$ all other inwme to be dislribLrted via the SchcK4 Grant Prtsjramme by end of financial year. unforeseen roStrictK)ns notsydhstandry. Page 15 RESTORE THE MUSIC UK NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Accounting pollcles (continued} 2.3 Incom• Al inccme r6 recognised the Ch¥ity has entitlgrnenl to the incL*ng. it is probable that the inccthe be received and the amount of inccffie receivable can be measured reliabty. Legacies are reccgnise(l on rec* or ot1￿lse rf the CW has been notsfied of an impending distribution, the amount is knMI. and rttety)t is expethd. If the ts t￿)1 known, the legacy is t￿￿ed a$ a Contingent asseL Grants are *iclLKled in Ihe SlatemeN cl financial activrties on a receivable basis. The balance of income recewed for specific purposes but rnt expended duritYJ the peric*J is shown in the ielevanl funds on th8 Ba1￿ce sheet Where InCc￿ is received in advance of enlitlemenl of receipt, its recc#Jnilion is deferred and W￿uded in ued*(¥s as deferred income. Where enlrtlemenl occurs before irLome is received, the i￿ome is 8¢¢n￿d. Cash donations are r8ccgnised on receipL Other donathm are r8COgnised orKe the Charity has been notffied of the donati￿. unless perf(Kmance ccv)ditbons require deferral of the amount. Income tax recoverable in relation to don*ions recewl under Grfl Apj or deeds of covonanl is recognisgd at the time of the donat￿71￿ On Te¢rf*t. don*ed professorw and f&ilrt* we re¢¢43nised on the basis of the Val￿ of the gift to the Charty ￿lch is the amount it ¥K￿ld have bean wilkwJ to pay lo obtain services or faci￿1￿8 of equivalent economic be￿rt on ts open market; a corresponding amount is then reccgnised in expenditure in the pericxl of r￿￿ 14 Expendlture Expenditure is reccgnised ortt Ihere is a crf COnstnKti￿ obligation lo twsfer economic benerrt to a third paty. it is probable that a transfer of ￿n(M￿le be￿frt$ be required in settlement and the amount of the obligation can be measured reliaNy. Expenditure is cla5$rfied by actiwty. The costs of each activity are made up of the total of direct costs and sharwj costs. inclLMling support costs invcAved in undertaking ea¢h acliwty. Drect costs atrthJtab￿ to a single activty are alktaled direcdy that thty. sh￿ Costs contrib￿8 to more than one actiwty and support costs which ar8 not attributable lo a single activity are be￿en those actNilies on a basis consistent with Expenditure on raising fuThJs ncludes all expenditure ir￿Urred by th8 Charity to raise funds for ils ¢haritsble wrposes and inclths costs ￿ all fundraFsing actwities events. Expendiiure on charita*le xlivit*s i% incurred on dirtttty urwjertaking the activlies %thich further the Charivs objectives. as wel as any assock*ed SLPPOrt costs. Grants pay8ble gre debited to Ihe Statem** of Financi￿ Activit￿$ wthen an undertakiry lo pay the grant during the financial year has been entered into. All expervjiture is irKknsi¥e of irre¢o¥erable VAT. Page 16 RESTORE THE MUSIC UK NOTES TO ThE RNANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Accounllng policies Icontinuod 2.5 Tanglble flx•d assets and deprnckitlon Tangible fryed assets costirwJ £11XI or nKffe we Capi1￿￿j recognised Tr*hen future ecor￿M benefits are probable the c(*t of the assel can be measured relHbly. Al e￿fv rew)rt¥vJ date the Ch¥ity assesses there is any widKation of wnpaimient. If 8uch iTrJic8lion exists. the recoverable ar*0￿1 of the asset ¢￿terMined to be the higher of ils fair value less eosts to sell and ils vahje in use. An ihparment los$ ￿¢0yrtised where the ¢arying amount 8xceeds the recOVera￿e amount. DepreciatIc￿ is charged so as to the cost of t￿Ible fixed assgts less their resKlual V￿￿8 over their estin*ed useful INes, usry the slWht4i￿ mdhod. Depr￿1¥11￿ is prowjed follohiThJ basis: 33% 16 Finan¢o1 instruments The Chaity On￿ has fInar￿￿] assets aThl financ￿1 li*ilities of a kind that qualify as basic fina￿lar instwments. Basic financial irbstrurnents are ￿llIa[￿ recogni5ed at transaction value and subsequentiy measure(l at thtyr value. tkbloys Trade and dher dettrs recognised al the setllement rnnt after any trade discoLmt offered. Prepayments 84e valwl at the amount wep￿. Cash •t b•nk and in hwd Cash ot bank i) hend cash arKI Sh￿￿eM7 h*3hly Iquid investrnents with a short malurty of three months or less from the date of acquisilion or c4)enirKJ of the deposit or siThlar account. Uabllltlw and provisloThs Liabilities we recwised when there i8 an Cknffiga1￿ at the Balance sheet date a5 a result of a past event. it is probable that a transfer of ecorthitc will be requir&4 in settl4nent. and the amount of the settlement can be eslimated reli**ty. Liabilities are recc#3nised at the ￿￿o￿nI thèt the Charity an¢￿iPate5 it wl pay to settle the debt or th& amount it has received as advanced pa￿nentS the goods ￿ $eNice$ it mu$l provide. 2.7 Flnance leases and hlre puvchase A$sels obtained under hire purchase witrxts ￿ fman¢g leases are capitalised as tangible fixed asset5. Assets acquired by fwwice lease are deprecialed over Ihe shorter of the lease lemi ond their useful Iwes. Assets acquired by hire purchase are depreciated over their useful INes. Finance leases are those where substanlially 811 of the benefrts and risks of ￿￿ership are assumed by the Charity. Obligations under SLKh agreements are incbjded in creditors, net of the finance charge allocated to fvture periods. finance *ment of the rentsl payment is charged to the Statement of financial act￿lI1eS so as to prc*Juce a constsnt rate of charge on the net oblKJalion oulstanding in each Page 17 RESTORE THE MUSIC UK NOTES TO THE FINANCIAL STATEMEpirs FOR TrIE YEAR ENDED 31 MARCH 2024 ACCOUn￿ng polici•s (¢ontinu¢d) 2.8 Penslons Thè Charity c4)èrates a defwlthg eontrbut#)n pensK)n scheme and the pensi￿ charge represents the nounts payable by the Chanty to ￿ fvThJ in respe¢t ofthe Jear. 2.9 Fund accounting General funds unreStr￿ted fwds vhsKh are awlabie lor use a th9 discrgtion of the Trustees in fvrtherance of the general objectives cl the Charity and which have not been deS￿nated for other purposes. Crftlcal accountlng Ostknat￿ and arnas of Judgement Eslwnates and jLbJgemenl$ we Cwtinuaty evaluated and are based on hi$loftal experien¢e and other factors, inC￿ding expectations of fvture events that are believed to be reasonable under the circumstances. The Charity m*e$ estwnates assumpt￿$ concemiry ￿ future. The ￿￿ting a¢counling e$timate$ aThJ assumptions wil, by drfinition, seldom eqLtal the related actual resutts. The estimates and assumplions that have a significant mk of causiwJ a malerial al'uStff￿nt to the Carr￿ng amounls of assets aThJ li*ilities **hin the nexl fmncial year are i*scussed bekx. Criti¢81 accounting estimates and asswffi.. Recogniticm of i￿X￿e from grnnts requires judg&))enL See n¢Ae 23 for the xcounling policy grant wicome. Deprgci*on is estim*ed at the rates dgtwled in ￿ 2.5, the wrwng amwnt of assets is detailed in note 12. Page 18 RESTORE THE MUSIC UK NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 In¢¢me from donatiorn and lega¢ie8 Unrestrlcted fund$ 2024 Total funds 2024 Total funds 2tr23 Grants and donatlons The Gordon & Jenny &nger Foufvdalion Propokenya other don¢ys The Give SONY MUSIC UK Story of Chr*tmas Save The Music 185.0 70.O¢XI 54,473 52,372 133,474 60,0 110.OCh) 185.000 70,000 54.473 $2,372 133,474 60.000 110.01)0 18&000 64. 155 67,227 127, 120 70,OC Total 2024 665,319 665,319 563,502 Tolal 2023 563,502 563.502 Income from charltable activlties Unrestrkt•d nds Total funds 2024 Tot81 funds 2023 G￿a Ir￿{￿ne 239,735 239.73S 224,803 Tot812023 224.803 224.803 Page 19 RESTORE THE MUSIC UK NOTES TO THE HNANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Expenditure on raising funds Casts of ralslng voluntsry Income Unregtrlcted funds 2024 Totsl funds 2024 Tolal funds 123 Events costs Social medH costs 119.348 12.291 119.348 12.291 94.067 16.660 131.639 131.639 11Q727 Total 2023 110. 727 110. 727 Page 20 RESTORE THE MUSIC UK NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 IAARCH 2024 Analysls of grants Grants to Instltutions Total fvnds Tol81 fuNts 2023 Grants 599.210 599.210 464,OLX) Total 2023 464,OLk) 464.IXQ I grants mad9 in ￿ yaar to nstiiutirms. The Charity has rnade the fdkM'rKJ m*ero1 granis to in$tknl*)ns during the ye¥.. 2024 Name of Instftutlon Alb￿n Primary Schc¥J Si Mays Lewisham CE Prvnwy Sthc Gladslone Path Primwy Sc Cardinal Pole cathol￿ Scho 8obJerAeadeffly Lilran Baylis Techr￿k1gY Sch￿1 Abraham Moss Community Schcd Harri$ s¢1￿¢¢ A&•Jemy Chobham Academy Benfield School Dukeygate Academy Our Latys RC HNJh Sthool Ttr*)mas Wall1￿ PrimaryAc•Jemy LordswoJd Bols School St Benedicts Primary School Sallord CityAcademy Lea Forest Primary Howead Sd)ool Ark Ackn A¢•Jemy Walker Riverside Sch¢x4 Oasis Academy Shirfey P Easdea Communty Sctr Oak Woc¥J Scho 10.000 1Q.000 10,000 20,000 20.000 20.000 20.000 20.000 10.000 10,OIX) 20.000 10.000 20,000 10.000 11.000 11.000 11.000 11,000 Harris Academy Claphw) Harris Academy St John's Wood 20.000 Page 21 RESTORE THE MUSIC UK NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Skinners, Academy East Manchester Ac&kny Ark WaI4•￿rth School 21 Arf( Globe Primary Harris Primary Academy Crysta Pa*e Tl* Cty Ac•Jemy Harris Ac&Jemy Purely Bobby Nknre Academy Walker RiversKle Ark Tindal Pr￿￿ Academy Kings Academy Hebburn Schcol lI.￿J0 11.LlX) 11,000 10,000 10.000 20.000 20.000 20,000 15,210 10,IXIO 20.000 20.000 20.000 10.000 2.1)00 2.000 Broadoak School Walling Park Primary Harris Academy GreenvAch Haffi$ Cty A¢•J*ny Crystsl P*e 599,210 Pag8 22 RESTORE THE MUSIC UK NOTES TO THE ANANCIAL STATEIAENTS FOR THE YEAR ENDED 31 MARCH 2024 2023 Name of Institution HarrisAcadomy Tottenham Ath Wawh Academy Harris Cty Ac*lemy Crystal Palace Borough Academy Hurlingham Academy Elms Acwjw LaYc￿k Prnnary School TOl￿ate Primary School Cleves prIn￿ Schc Harris Primary Academy Cro￿1 Nelson Primary School Harris Garrard Primary A¢a1￿Y Ea$Uea Communty Sch¢￿1 Haggerslon Sch¢> Hallsville Primary Sclmiol Oaklands sch￿ 10,OCQ 10.OCQ 10,0 10,000 10,0th9 10,000 20,OLI) 20,OCQ 10.OCQ 20,¢XQ 20,LXQ 10.OCQ 10,OLKI 20,OCQ 10.OCQ 20.000 10.000 20,000 10,000 20,000 20,000 10.000 10,000 10.000 Harris Ac&Yemy Clapham a￿lfI*Ver Primary Sclwl Dra￿￿ Park Prwnary School Cty Of London Academy Southw•k S¢dt Wilkie Prwnary S¢ho Bexon High Sch￿1 John ScLtrr Primary Scho)I East m￿CheSter Acadwny Marlborough Road Primary Academy Ark Victoria Acad*my Walker fv'verside second￿ Scho English Martyrs. PrThary Sthool Hilstr)ne Primary School Star Primary sc￿￿￿>1 Oasis Academy Shirfey Park Harris Academy Gr8erMith Skinners, Academy Hackney New Prmary 464.LX Page 23 RESTORE THE IALISIC UK NOTES TO THE FINANCIAL STATEMEMTS FOR THE YEAR ENDED 31 MARCH 2024 Anatysis of expendlture on charitabl• a¢liviti•s Summary by fvnd typ¢ Vnr¢stricted funds 2024 Total 2024 Toial 2023 Charitable aCtiv￿e$ 796,372 796.372 639,448 Total 2023 639.448 639.448 Analysis of expendlture by actl¥ftles Grant funding si8tence B￿k charges Office costs Insurance Ac¢ountan¢y and Independent EXamW￿$ fees AdveiknsiNJ axl Marketing Subscriptions 156.058 143,489 1,019 175 5.400 6,140 2, 745 110 11N68 1.911 135 il 219 731 767 14,387 1.299 14,381 4.556 576 197.162 IT5,448 10. Independent examlnerfs remuneratlon 2024 2023 Fees payatde to the Charitys rtlepetht examiner the Ir￿rth￿ examinat*)n Of￿ ch￿ty5 anwal xcounts Fees payable to the Chaws independent ex￿Iner in resp￿￿ of: p￿parth"oft of financk41 statem￿ts B(x*keeping and payTr 3.180 2772 2.$49 8.652 2,436 Page 25 RESTORE THE IAUSIC UK MOTES TO THE FINANCIAL STATEMEMTS FOR THE YEAR ENDED 31 IAARCH 2024 11. Siaff costs 2024 2023 Waggs and sal¥i&s Social security costs contributi￿ lo defined contritmjthx) pension schen 142.144 12,593 1.321 133.309 8.859 1,321 156.058 143,489 The average number of by the Charity during thg year was as folkxs.. 2024 No. 2023 No. Adminislration The number of ￿￿p￿yeeS empbJEe benefits (excludwig employer pension ¢osts) exceeded £60,OW was: 2024 2023 No. In the band £110.001- £120.(KX> Remuneral¥)n of key Manag￿ PeN￿ne1. defty￿d as CEO vras £115,258 (2023. £111.042). 12. Trusteos. r•munerallon and •xp•ns•s During the year. Trustees recerrtd ary remuneratN)n orcAher beneffts (2023. £NIL). DuriTrJ the year ended 31 M￿ch 2024. Tr) Tnjstee eypews been incurred (2023. £NIL). Page 26 RESTORE THE MUSIC UK NOTES TO THE FINANCIAL sTATEMEP￿s FOR THE YEAR ENDED 31 MARCH 2024 13. Tangible fixed assets Computer equlpment At 1 April 2023 3.595 At 31 March 2024 3,595 DeprKlatlon Al 1 April 2023 Charge for the year 2.426 685 At 31 March 2024 3.111 Met book value Al 31 March 2024 Al 31 2ff23 t, 169 14. D•btorn 2024 2023 P￿Pay￿a￿S and accrued Ir￿￿e 23.155 10,331 Page 27 RESTORE THE MUSIC UK NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 IIIARCH 2024 1& Creditorn: Amounts falllng due wlthln one year 2024 2023 her taxation S￿la1 security Obligations under finance lease and hire purchase cryrtrxts Other creditors 2, 198 479 401 8.590 160 406 7.817 Deferred income 48.882 16,668 16. A¢crnals and deferred income 2024 2023 Deferr•J irKome a 1 Apr4 2023 Rgsources deferred during the ye¥ 6S.493 (29.993) Del•rrnd Income •t 31 March 2024 40.$00 Page 28 RESTORE THE AIUSIC UK IKITES TO ThE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 17. Statement of funds Statement of fvrbds- ¢uvrenty¢ar Balanco at 31 March 2024 Balance at 1 Awil 2023 Incomo Eyndlturo Unrestricted funds General Flmds 1948TI 905.054 {928.0111 171,920 Slatemenl of funds- prlor year Balancg al 31 IAa 2023 Balance al l Apiil 2022 1￿C￿e Expenditur8 Unrnstrlct•d funds Géneral FLYKIS 156,747 788.305 (750. 175) 194,877 18. An4fysls of n•t as¥•ts bolwfjon funds Anatysls of net assets belween funds-current perlod Unre5tr1cted funds 2024 Total funds 2024 TarKJible fixed assets CUT￿nt assets Credit(Ys due wlhin one year 220,318 (48,8821 220.318 (48,8821 Total 171,920 171.920 Page 29 RESTORE THE MUSIC UK MOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 18. Anatysis of net assets b•tw¢en funds {contlnued> Anafysls of net assets belw¢en funds. wior perit Unr8slrict8d funds 2023 Totsl lunds 2023 Tangible ffix￿ assets Current assets Credit￿3 due within ore pr 1, 169 210,376 (16,668) 1. 169 210,376 (16,668) 194,877 194,877 19. R•conclllatlon of net movement In funds to cash flow frixn opwatlng activities 2024 2023 Net I￿om￿exp8ndItVr? the perK¥J (as per St*wnent of Finan¢ial ActNitiesl (22,9S7) 38,130 Adjustments for: Depreciati¢)n charges Decreasel{increasel in deb Increase in creditors 685 (12.824) 32,533 1.019 12.986 7.025 Ne¢ ¢•sh provid¢d byl(wd in) op¢rnting actrvits 12.$63) 59,160 20. Analysls of cash and Gash equivthits 2024 2023 Cash in haThJ 197,163 200.045 Page 30 RESTORE THE MUSIC UK NOTES TO THE FINAPICIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 21. Anatysls of changes In net debt At 1 April 2023 Cash IIow5 At 31 March 2024 Cash at bank and in harKI Finance lthqses 200.045 12.882} 319 197,163 199.566 12.563} 197,003 22. Ponslon commltments The Charity operates a drfined Cry￿r￿Ut•Jn pension scheme. The a55ets of the scheme are held separately from those of the Charty in an ￿(￿rNIent￿Y a(kninistered fund. The pension cost charge represents contrt>utions payabl8 by the Charty to the fund and amounted to £1,321 (2023.. £1.321J. At the year end contrtJulK)ns payth anounted to £405 (2023.. £401) are incbAed in other creditors. 23. Rolatod party transactlons During the year a grwrt of £200.Crf)0 (2023: £2￿.£kKI the purthase of tabks al the Gala fundraising dinner £20.000 12023: 1 table for £10.(KIOI ￿tre received frcth the Gordon and Jenny Singer Foundation, of which the Trustee Gordon &"nger is President The grant is unrestricted and £15,1)00 ol the grant was paid direcuy lo Big Give in 2024 and 2¢y23. Donations fr¢)m Trustees and connected patss totsthng £9.788 {2023.. £19.350) were recerled during the ffiw¢ial year. Page 31