Charity Registration No. 1172845
Company Registration No. 10503413 (England and Wales)
EARLY MUSIC AS EDUCATION
(A COMPANY LIMITED BY GUARANTEE)
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2020
EARLY MUSIC AS EDUCATION (A COMPANY LIMITED BY GUARANTEE) LEGAL AND ADMINISTRATIVE INFORMATION
Trustees Mr M R Feeny Dr A Sanna Mr F G Cottrell-Boyce Professor J A Smaczny Ms P Nieddu Rev Dr C A Pailing Ms J Pickavance Secretary Ms P Nieddu Charity number 1172845 Company number 10503413 Registered office c/o Brabners LLP Horton House Exchange Flags Liverpool L2 3YL Independent examiner DSG Castle Chambers 43 Castle Street Liverpool L2 9TL
EARLY MUSIC AS EDUCATION (A COMPANY LIMITED BY GUARANTEE) CONTENTS
| Page | |
|---|---|
| Trustees' report | 1 - 6 |
| Statement of trustees' responsibilities | 7 |
| Independent examiner's report | 8 |
| Statement of financial activities | 9 |
| Balance sheet | 10 |
| Notes to the financial statements | 11 - 14 |
EARLY MUSIC AS EDUCATION (A COMPANY LIMITED BY GUARANTEE) TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) FOR THE YEAR ENDED 31 AUGUST 2020
The trustees present their report and financial statements for the year ended 31 August 2020.
The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's Memorandum and Articles of Association , the Companies Act 2006 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) (effective 1 January 2019)".
Early Music as Education ('EMAE') is a private limited company and a registered charity based in Liverpool that promotes the cultural, social and economic value of early music through regular educational, recreational and scholarly activities. Our mission is to bring social, cultural and educational opportunities to young people across the socio-economic spectrum through Early Music (the interpretation of pre-19th century music according to historical performance practices) taught to a high standard.
Objectives and activities
The charity's objects are for the public benefit and are specifically restricted to the following:
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To advance the education of the public in general without prejudice to generality of the foregoing to promote research for the public benefit in all aspects of that subject and to publish the useful results. For the purposes of this article the term "early music" shall mean the interpretation of Western music from the earliest written record to the late nineteenth century according to historical performance practices and, when possible, on period or copies of period instruments.
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Such other exclusively charitable purposes as the trustees in their absolute discretion may determine from time to time.
The charity aims to identify and train young music students to a high level in "long" 18th century music.
The policies adopted in furtherance of these objects are the granting of scholarships and performing a number of productions in the UK and abroad and there has been no change in these during the year.
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EARLY MUSIC AS EDUCATION (A COMPANY LIMITED BY GUARANTEE) TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2020
Vision
Through a variety of programmes we promote:
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Opportunity We work with young people from a wide variety of social and educational backgrounds. By challenging perceived cultural barriers, we promote participation and confidence. We also provide the opportunity for recognition for those young people who do not thrive in the traditional routes in our region, i.e.. through sporting or mainstream cultural success.
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Excellence
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We focus on smaller groups of young people and drive them to a very high standard of musical performance comparable to that of the best youth orchestras in the world. Unlike other similar organisations, however, EMAE provides its students with tutorials, music scores, copies of historical instruments and a whole range of learning experiences at no cost.
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Personal Development and Cohesion
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We deliver wider personal development and growth alongside increased musical skills. We believe that social opportunity comes through work and recreation together. We bring together young people from different backgrounds in weekly groups, in intensive day programmes and in international ‘residences’. In addition, the particular skills used in Early Music performance develop non-verbal communication skills beyond those used in other styles of music.
EMAE’s Long Term Goals
In the long term, we aim to:
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help to fill a gap in the funding of music education. Many children do not currently have access to musical training of any kind. This gap is greatest at the lowest socio-economic level and many children from these groups may never have the opportunity to know whether they have musical aptitude.
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create a musical culture and ensembles of which Liverpool and the City Region can be proud.
EMAE’s Short Term Goals
In the short term, we aim to:
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support talented string players in the Liverpool City Region with a view to enhancing their musical and personal development.
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select through local schools string players (violin, viola, cello and double bass) aged 11 to 18 and give them specialist training in historical performance and chamber music through weekly coaching sessions, concert productions, intensive summer programmes, and international concert tours.
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provide students with tutorials, music scores, copies of historical bows, and a whole range of learning experiences at no cost.
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enhance students’ social skills in a ‘currency’ that is internationally recognized so that they may be confident to work within a mixed age group in an environment where effective co-operation is vital to a successful public performance.
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EARLY MUSIC AS EDUCATION (A COMPANY LIMITED BY GUARANTEE) TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2020
Achievements to date
In its first year (2016–17) EMAE ran a successful trial programme between March and June 2017 involving twelve students from three schools, working with four tutors. In July 2017 there was an inaugural concert hosted by the High Sheriff of Merseyside at the Capstone Theatre. In addition, the Director of EMAE and the first cohort of tutors (who have since gone on to pursue professional careers of postgraduate studies in music) performed and presented the initiative at King’s College, London, the University of Oxford, in San Ginesio (Italy), and in Nairobi (Kenya).
Academic Year 2017–2018 – The scheme expanded to include 7 secondary schools from across the City Region (Birkenhead School, King David High School, Liverpool College, Merchant Taylors’ Boys School, Merchant Taylors’ Girls School, Sacred Heart Catholic College and St Michael’s Church of England High School), with a total of 31 students (16 violins, 2 violas, 10 cellos and 3 double basses) coached by a second cohort of 4 tutors (Donatella Paiano, violin; Simone Laghi, violin and viola; Sergi Daniel Sanxis Silleras, viola; Elizabeth Elliott, cello). The newly established Early Music Youth Orchestra (EMYO), formed by the EMAE tutors and students under the Director’s leadership, gave concert recitals at St Anne’s College Oxford, the Liverpool Parish Church, the Liverpool Athenaeum and the Williamson Art Gallery in Birkenhead, beside performing at several school events. In addition, some 30 students and tutors went on an international residency in the Italian Marche, giving orchestral concerts in Tolentino and in San Ginesio, and attending masterclasses with members of the Early Music ensemble ‘Il Furibondo’. The Italian residency is documented in the video ‘The Making of a Little Orchestra’.
Academic Year 2018–2019 – The scheme further expanded to include 10 secondary schools from across the City Region (Birkenhead School, King David High School, Liverpool College, Merchant Taylors’ Boys School, Merchant Taylors’ Girls School, Sacred Heart Catholic College, St Edward’s College, St Michael’s Church of England High School, The Belvedere Academy and The Blue Coat School), with a total of 51 students (30 violins, 5 violas, 14 cellos and 2 double basses) coached by the tutors Donatella Paiano (violin and viola) and Elizabeth Elliott (cello). The groups varied widely in socio-economic background, technical and musical abilities; the string ensembles formed in each school featured in school concerts throughout the academic year and collaborated in some large-scale events across the City Region. The Early Music Youth Orchestra took up a residency at the Liverpool Parish Church, where 18 string players from 8 different schools were involved in an intensive and advanced programme of training which also included a short concert season. EMYO also participated in high-profile events in Liverpool, at the Hope Street Hotel and Queen Arcade in particular, and performed at the Royal Birmingham Conservatoire. In addition, the players went on an international residency in the Spanish region of Catalonia, giving concerts in Barcelona and in Banyeres del Penedes, and attending a masterclass with the Early Music violinist Manfredo Kraemer. The Spanish residency is documented in the video ‘Work in Progress’. Finally, the Director and the tutors went back to Nairobi (Kenya) to teach string technique and ensemble playing to 25 children from the slum neighbourhood of Korogocho enrolled in the ‘Ghetto Classics’ programme.
The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake.
At Early Music as Education (EMAE) we believe that, irrespective of age, background and training, the study of the music of European civilisations has the potential to transform individual lives through the acquisition of specialised knowledge and skills, and the development of cultural, social and economic relations.
‘Early music’ is a colloquial name for the musical cultures of the European peoples between the Commercial Revolution of the fifteenth century and the Industrial Revolution of the nineteenth century – before the largescale exploitation of natural resources through advanced technical means, the mass production and worldwide commercialisation of goods, the replacement of the master-pupil model of instruction with the class format.
In a less narrow sense, ‘early music’ is a way of interpreting European music from the earliest written record to the late nineteenth century according to historical performance practices and, when possible, on period or copies of period instruments. An early-music specialist is a musician, usually trained to conservatoire standards, whose interpretations of pre-1900 repertoires are informed by musicological findings about historical performance practices (so-called ‘historically informed performance’ or HIP).
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EARLY MUSIC AS EDUCATION (A COMPANY LIMITED BY GUARANTEE) TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2020
Achievements and performance
Financial review
Financial support to run these programmes has come through charitable grants and individual donation. Core funding is already in place to support all our programmes through to the end the year.
In supporting the work of EMAE, we are looking for three types of funding:
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Core Funding. This is primarily for paying and retaining music tutors of the highest standard, as well as covering the cost of rehearsal spaces, administration and advertising. Core funding also provides music and equipment for each generation in the programmes.
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Project Funding. Some of our programmes are targeted within particular demographics and need specific funding at a higher level. For example, in areas of significant deprivation more intensive tuition is required, including considerations of location of the work (where travel to a central point is less plausible).
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Individual sponsorship. We invite donors to sponsor individuals in participation in residencies and tours. Travel and accommodation costs are beyond the reach of some families.
The Trustees have assessed the major risks to which the charity is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks.
Evaluation
The work undertaken by the Director and the tutors is evaluated regularly and in several different ways.
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Trustee evaluation at board meetings and after each public event.
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Weekly review with the Directors of Music of participating schools, with a particular focus on progress and welfare issues for individual students.
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The professional musicians engaged as tutors report to and are assessed by the Director.
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Student evaluation: they make the ultimate assessment of the impact of the training on their personal development.
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EARLY MUSIC AS EDUCATION (A COMPANY LIMITED BY GUARANTEE) TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2020
The Future: Programmes and D evelopment
1. EMAE Orchestra
Established in 2016, our Director and supporting tutors lead a chamber orchestra with an emphasis on highlevel performance. Members of the orchestra have performed at King’s College London, the University of Oxford, in San Ginesio (Italy) and in Nairobi (Kenya). The orchestra has performed at a number of venues across the North West, including the Liverpool Athenaeum, the Capstone Theatre, and the Williamson Art Gallery. The orchestra meets weekly at Liverpool Parish Church, where it also performs regular concerts. The orchestra now draws its members from those who have worked in other EMAE programmes.
2. Secondary-School Programme
Since 2017 we have been working in ten schools from all across Merseyside and the Wirral, and over forty students coached by a second cohort of four tutors. String players (violin, viola, cello and double-bass) range from Year 6 to Year 13 and include both maintained and independent schools. The groups vary widely in terms of technical and musical abilities as well as social and economic profiles. The individual string ensembles formed in each school are featured in school concerts throughout the year
3. Primary-School (‘Academy’) Programme
From September 2019 EMAE will expand its music provision as to include some primary schools located in the economically deprived areas of Liverpool City Region. We have designed an innovative music curriculum for children aged 8 to 10 with no previous musical knowledge, encompassing general musicianship, individual tuition in violin, viola and cello, and ensemble music-making. We hope to extend this programme more widely.
4. Future
After we have completed the 2016–20 cycle, we plan a more ambitious programme for 2020–25 extending our scope in two main directions: i) locally, through the Liverpool String Academy (LSA); ii) nationally, through the Early Music Youth Orchestra (EMYO). The LSA will subsume the string-training and musicianship programmes previously delivered in the primary and secondary schools; it will comprise three progressive levels – Junior (Years 4–6), Intermediate (Years 7–9) and Senior (Years 10–13) – and will especially cater to young members of under-represented communities. The EMYO will be made of the best students of the LSA and, subject to audition, of other British string players of similar age and ability; it too will comprise three distinct ensembles, the Junior (Years 4–6), the Intermediate (Years 7–9) and the Senior (Years 10–13).
Structure, governance and management
The charity is a company limited by guarantee governed by its Articles and Memorandum of Association dated 30 November 2016 and registered with the Charity Commission on 3 May 2017.
The trustees, who are also the directors for the purpose of company law, and who served during the year and up to the date of signature of the financial statements were:
Mr M R Feeny
Dr A Sanna Mr F G Cottrell-Boyce Professor J A Smaczny Ms P Nieddu Rev Dr C A Pailing Ms J Pickavance
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EARLY MUSIC AS EDUCATION (A COMPANY LIMITED BY GUARANTEE) TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2020
Music Specialists, Trustees and Supporters
The Director of EMAE is Dr Alberto Sanna, a renowned violinist, musicologist and educator who, for over two decades, has enjoyed an international career in the field of Early Music. Dr Sanna is assisted by instrumental tutors who are professionally active as teachers and performers in their own right.
The Trustees of EMAE are drawn from a variety of backgrounds and have been chosen to bring expertise in a number of fields, as well as connections across the City Region. Our work has been supported by the Lord Lieutenant of Merseyside and by successive High Sheriffs of Merseyside, as well as leaders in the professional and commercial district of Liverpool.
Our Trustees are:
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Mr Mark Feeny (Chairman) – Solicitor in Liverpool and partner at Brabners LLP; expert on tax planning, trusts and wills, and estates.
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Dr Frank Cottrell-Boyce – Internationally renowned, Liverpool-based screenwriter and novelist; cocreator of the 2012 Summer Olympics opening ceremony.
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Mrs Paola Nieddu – Director of Events at Fora Space, London; formerly Event Manager and Administrator of the Cornerstone Arts Festival in Liverpool.
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Revd Canon Dr Crispin Pailing – Rector of Liverpool and key figure in the civic life of the city; involved across the charitable and voluntary sector of Merseyside.
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Ms Janet Pickavance – Formerly Chief Executive Officer at Brabners LLP; expert in financial management and business planning.
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Professor Jan Smaczny – Musicologist; Emeritus Professor at Queens University Belfast; leading authority on nineteenth-century music, especially Dvorak.
The Charity is run by the board of Directors. The Directors meet on a regular basis to agree policy, review finances and monitor the content and delivery of the educational programme.
The Board of Directors keeps under review the composition of the Board and skills required by the Charity to perform effectively and deliver its charitable objectives.
The trustees' r eport was approved by the Board of Trustees.
Mr M R Feeny Trustee Dated: 23 August 2021
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EARLY MUSIC AS EDUCATION (A COMPANY LIMITED BY GUARANTEE) STATEMENT OF TRUSTEES' RESPONSIBILITIES
FOR THE YEAR ENDED 31 AUGUST 2020
The trustees, who are also the directors of Early Music as Education for the purpose of company law, are responsible for preparing the Trustees' Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Company Law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that year.
In preparing these financial statements, the trustees are required to:
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select suitable accounting policies and then apply them consistently;
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observe the methods and principles in the Charities SORP;
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make judgements and estimates that are reasonable and prudent;
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state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.
The trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
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EARLY MUSIC AS EDUCATION (A COMPANY LIMITED BY GUARANTEE) INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF EARLY MUSIC AS EDUCATION
I report to the trustees (who are also Directors for the purpose of company law) on my examination of the financial statements of Early Music as Education (the charity) for the year ended 31 August 2020 which comprise the Statement of Financial Activities, the Balance Sheet and related notes .
Responsibilities and basis of report
As the trustees of the charity (and also its directors for the purposes of company law) you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006 (the 2006 Act).
Having satisfied myself that the financial statements of the charity are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of the charity’s financial statements carried out under section 145 of the Charities Act 2011 (the 2011 Act) . In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
An independent examination does not involve gathering all the evidence that would be required in an audit and consequently does not cover all the matters that an auditor considers in giving their opinion on the financial statements. The planning and conduct of an audit goes beyond the limited assurance that an independent examination can provide. Consequently I express no opinion as to whether the financial statements present a "true and fair" view and my report is limited to those specific matters set out in the independent examiner's statement.
Independent examiner's statement
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
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1 accounting records were not kept in respect of the charity as required by section 386 of the 2006 Act; or
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2 the financial statements do not accord with those records; or
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3 the financial statements do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination; or
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4 the financial statements have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the financial statements to be reached.
Jean Ellis BA FCA CTA DSG
Castle Chambers 43 Castle Street Liverpool L2 9TL
Dated: 23 August 2021
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EARLY MUSIC AS EDUCATION (A COMPANY LIMITED BY GUARANTEE) STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 AUGUST 2020
| Unrestricted Restricted funds funds 2020 2020 Notes £ £ Income from: Donations and legacies 3 121,426 7,000 Charitable activities 4 - - Total income 121,426 7,000 Expenditure on: Raising funds 5 87 - Charitable activities 6 48,295 7,000 Total resources expended 48,382 7,000 Net income/(expenditure) for the year/ Net movement in funds 73,044 - Fund balances at 1 September 2019 25,703 - Fund balances at 31 August 2020 98,747 - |
TotalUnrestricted funds 2020 2019 £ £ 128,426 59,272 - 439 128,426 59,711 87 1,733 55,295 73,103 55,382 74,836 73,044 (15,125) 25,703 40,828 98,747 25,703 |
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The statement of financial activities includes all gains and losses recognised in the year.
All income and expenditure derive from continuing activities.
The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006.
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EARLY MUSIC AS EDUCATION (A COMPANY LIMITED BY GUARANTEE) BALANCE SHEET
AS AT 31 AUGUST 2020
| Notes Current assets Cash at bank and in hand Creditors: amounts falling due within one year 10 Net current assets Income funds Unrestricted funds |
2020 £ 99,797 (1,050) |
£ 98,747 98,747 98,747 |
2019 £ 26,692 (989) |
£ 25,703 25,703 25,703 |
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The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 31 August 2020.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the Trustees on 23 August 2021
Mr M R Feeny
Trustee
Company Registration No. 10503413
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EARLY MUSIC AS EDUCATION (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2020
1 Accounting policies
Charity information
Early Music as Education is a private company limited by guarantee incorporated in England and Wales. The registered office is c/o Brabners LLP, Horton House, Exchange Flags, Liverpool, L2 3YL.
1.1 Accounting convention
The financial statements have been prepared in accordance with the charity's [governing document], the Companies Act 2006 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) (effective 1 January 2019)". The charity is a Public Benefit Entity as defined by FRS 102.
The charity has taken advantage of the provisions in the SORP for charities applying FRS 102 Update Bulletin 1 not to prepare a Statement of Cash Flows.
The financial statements are prepared in sterling , which is the functional currency of the charity. Monetary a mounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2 Going concern
At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.
1.3 Charitable funds
Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.
Restricted funds are subject to specific conditions by donors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.
1.4 Income
Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.
Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.
Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.
1.5 Expenditure
Expenditure is accounted for on an accrual basis and has been classified under headings that aggregate all costs related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of the resources.
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EARLY MUSIC AS EDUCATION (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2020
1 Accounting policies
(Continued)
1.6 Cash and cash equivalents
Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
Basic financial liabilities
Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future p aymen ts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
Derecognition of financial liabilities
Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.
2 Critical accounting estimates and judgements
In the application of the charity’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
3 Donations and legacies
| Unrestricted | Restricted | Total | Unrestricted | |
|---|---|---|---|---|
| funds | funds | funds | ||
| 2020 | 2020 | 2020 | 2019 | |
| £ | £ | £ | £ | |
| Donations and gifts | 121,426 | 7,000 | 128,426 | 59,272 |
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EARLY MUSIC AS EDUCATION (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2020
4 Charitable activities
| 5 6 |
Income from ticket sales Income from ticket sales 2020 2019 £ £ Sales from charitable activities - 439 Raising funds UnrestrictedUnrestricted funds funds 2020 2019 £ £ Fundraising and publicity Advertising 87 1,733 87 1,733 Grants payable Education Education 2020 2019 £ £ Grants to individuals 27,194 10,000 27,194 10,000 |
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EARLY MUSIC AS EDUCATION (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2020
7 Support costs
| Support costs Governance costs £ £ Travel - - Bank charges 65 - Independent examiner's fees - 1,050 65 1,050 Analysed between Charitable activities 65 1,050 |
2020 Support costs Governance costs £ £ £ - 94 - 65 80 - 1,050 - 1,255 1,115 174 1,255 1,115 174 1,255 |
2019 £ 94 80 1,255 1,429 1,429 |
|---|---|---|
8 Trustees
None of the trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year other than as noted in note 11 .
9 Employees
The average monthly number of employees during the year was:
| 2020 | 2019 | ||
|---|---|---|---|
| Number | Number | ||
| Total | - | - | |
| 10 | Creditors: amounts falling due within one year | ||
| 2020 | 2019 | ||
| £ | £ | ||
| Accruals and deferred income | 1,050 | 989 |
11 Related party transactions
During the year, a payment of £10,000 (2019: £10,000) has been made to A Sanna, a trustee of the charity, in his capacity as musical director. No amounts were outstanding at the balance sheet date.
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