Charity registration number 1172845
Company registration number 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 2023
EARLY MUSIC AS EDUCATION (A COMPANY LIMITED BY GUARANTEE) LEGAL AND ADMINISTRATIVE INFORMATION
Trustees Mrs A M Clearkin (Appointed 7 February 2023) Dr F G Cottrell-Boyce Mr M R Feeny Mrs M Mulvey-Fanneran Mrs P Nieddu Rev Dr C A Pailing Ms J Pickavance Dr A Sanna 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 - 4 |
| Statement of trustees' responsibilities | 5 |
| Independent examiner's report | 6 |
| Statement of financial activities | 7 |
| Balance sheet | 8 |
| Notes to the financial statements | 9 - 14 |
EARLY MUSIC AS EDUCATION (A COMPANY LIMITED BY GUARANTEE) TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) FOR THE YEAR ENDED 31 AUGUST 2023
The trustees present their annual report and financial statements for the year ended 31 August 2023.
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 charitable company'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 charitable company's objectives 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 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.
The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charitable company should undertake.
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 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
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.
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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 2023
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 and music tutors in the Liverpool City Region and Greater London with a view to enhancing their professional and personal development.
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select through local schools string players (violin, viola, cello and double bass) aged 8 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 recognised 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.
Achievements and performance
Academic Year 2022–2023
The implementation of EMAE’s mission was not hindered by any kind of external constraints and therefore, in the academic year 2022–2023, the Charity was able to operate in full accordance with the vision set by the Board of Trustees back in 2020.
The year started off with EMAE’s first Gala Dinner which took place on 15 October 2022 at Hope Street Hotel in Liverpool and featured as guest speaker the novelist and screenwriter Frank Cottrell-Boyce. The Liverpool String Academy continued to offer weekly sessions in Musicianship, String Playing and Ensemble Music across three levels of learning: Beginner, Intermediate and Advanced. The Beginner Musicianship programme was offered to c .140 students: c .60 students in Year 4, in partnership with St Margaret’s Church of England Primary School in Anfield; c .80 students in Year 5, in partnership with Liscard Primary School in Wallasey. Designed and supervised by the Director, the programme was taught by 3 tutors.
The Intermediate Musicianship and Ensemble Music programmes were offered independently to 11 lower secondary-school students and delivered in partnership with the Liverpool Parish Church. Designed and supervised by the Director, it was taught by 2 tutors. The Advanced Musicianship and Ensemble Music programmes were offered independently to 5 upper secondary-school students and delivered in partnership with the Liverpool Parish Church. Designed and supervised by the Director, it was taught by 2 tutors.
In addition, EMAE purchased a set of small violins and cellos with bows, cases and accessories, and launched a new Beginner String Playing programme which was offered to 12 violinists and 5 cellists from Liscard Primary School in Wallasey. Designed and supervised by the Director, the programme was taught by 2 tutors who gave weekly individual lessons in violin and cello at Liscard Primary School and at the church of St Elisabeth’s The New Martyr in Wallasey.
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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 2023
In the second part of the academic year, the same young instrumentalists were able to join forces with other violinists and cellists of similar age and level in a newly formed Ensemble Music programme delivered in partnership with St Mary’s Church Liscard. Designed and supervised by the Director, the programme was taught by 2 tutors. The smaller London String Academy also continued its provision of weekly sessions in Musicianship, String Playing and Ensemble Music across two levels of learning: Beginner and Intermediate. The programmes were offered independently to 15 primary- and secondary-school students, and delivered in partnership with Fora Space Ltd. Designed and supervised by the Director, the programmes were taught by 3 tutors.
EMAE’s flagship ensemble, the Early Music Youth Orchestra (EMYO) gave concerts in Liverpool at Our Lady and St Nicholas, the Language Lounge University of Liverpool, The Tung Auditorium (in partnership with the Scotch College Orchestra of Melbourne, Australia), St Vincent de Paul and St Patrick’s Church; in London at The Atrium Fora Spitalfields; in The Netherlands at St Cathrienkerk, s’-Hertogenbosch. Numerous students from both the Liverpool and the London String Academy took part in away-days at Fora Spitalfields in London and in the international music residency in Brabant, The Netherlands.
Finally, in May 2023 a team of researcher from Edge Hill University published the study Exploring the Impact of Music on the Psycho-Social Well-Being and Life Skills Development of Liverpool’s Children, Young People and their Local Communities – an independent report commissioned by EMAE’s Board of Trustees to evaluate the extramusical impact of the Charity’s music-education programmes and activities.
Financial review
The results for the year and the charity’s financial position at the end of the year are shown in the attached financial statements.
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.
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.
Reserves policy
It is the policy of the charitable company that unrestricted funds which have not been designated for a specific use should be maintained at a level equivalent to between three and six month’s expenditure. The trustees consider that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the charitable company’s current activities while consideration is given to ways in which additional funds may be raised. At the year end, charity funds do not meet this level and the trustees have plans to address this by focusing on income generation to increase the charity's income in the future.
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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 2023
Risk policy
The trustees have assessed the major risks to which the charitable company is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks.
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.
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:
Mark Rupert Feeny (appointed on 30/11/16) - Trustee and Chairman (Fundraising and PR) Alberto Sanna (appointed on 30/11/16) - Trustee and Director (Artistic and Education) Paola Nieddu (appointed on 30/11/16) - Trustee and Secretary Frank Cottrell-Boyce (appointed on 26/09/17) - Trustee (PR) Crispin Pailing (appointed on 25/07/18) - Trustee (Safeguarding and PR) Janet Pickavance (appointed on 07/11/18) - Trustee (Accounting and Fundraising) Michelle Mulvey-Fanneran (appointed on 10/01/22) - Trustee (Parent Liaison) Angela Clearkin (appointed on 07/02/23) - Trustee (PR)
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.
Small company provisions
This report has been prepared in accordance with the special provisions relating to small companies within Part 15 of the Companies Act 2006.
The trustees' report was approved by the Board of Trustees.
Mr M R Feeny Trustee
19 April 2024
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EARLY MUSIC AS EDUCATION (A COMPANY LIMITED BY GUARANTEE) STATEMENT OF TRUSTEES' RESPONSIBILITIES
FOR THE YEAR ENDED 31 AUGUST 2023
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 charitable company 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 charitable company 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 charitable company 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 charitable company 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 on my examination of the financial statements of Early Music as Education (the charitable company) for the year ended 31 August 2023.
This report is made solely to the charity’s trustees, as a body, in accordance with section 145 of the Charities Act 2011. My work has been undertaken so that I might state to the charity’s trustees those matters I am required to state to them in this report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the charity and the charity’s trustees as a body, for my work, for this report, or for the opinions I have formed.
Responsibilities and basis of report
As the trustees of the charitable company (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 charitable company 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 charitable company’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.
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 charitable company 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: 19 April 2024
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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 2023
| Unrestricted | Restricted | Restricted | **Total ** | Unrestricted | Unrestricted | Restricted | Total | ||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| funds | funds | funds | funds | ||||||||
| 2023 | 2023 | 2023 | 2022 | 2022 | 2022 | ||||||
| Notes | £ | £ | £ | £ | £ | £ | |||||
| Income from: | |||||||||||
| Donations and legacies | 3 | 122,908 | - | 122,908 | 139,113 | - | 139,113 | ||||
| Investments | 4 | 183 | - | 183 | - | - | - | ||||
| Total income | 123,091 | - | 123,091 | 139,113 | - | 139,113 | |||||
| Expenditure on: | |||||||||||
| Raising funds | 5 | 6,820 | - | 6,820 | - | - | - | ||||
| Charitable activities | 132,565 | - | 132,565 | 112,739 | - | 112,739 | |||||
| Total expenditure | 139,385 | - | 139,385 | 112,739 | - | 112,739 | |||||
| Net (outgoing)/incoming | |||||||||||
| resources before | transfers | (16,294) | - | (16,294) | 26,374 | - | 26,374 | ||||
| Gross transfers | between | ||||||||||
| funds | - | - | - | (600) | 600 | - | |||||
| Net (expenditure)/income for | |||||||||||
| the year/ | |||||||||||
| Net movement in | funds | (16,294) | - | (16,294) | 25,774 | 600 | 26,374 | ||||
| Fund balances at 1 September | |||||||||||
| 2022 | 30,277 | 39,305 | 69,582 | 4,503 | 38,705 | 43,208 | |||||
| Fund balances at 31 August | |||||||||||
| 2023 | 13,983 | 39,305 | 53,288 | 30,277 | 39,305 | 69,582 |
The statement of financial activities includes all gains and losses recognised in the year.
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 2023
| 2023 | 2022 | ||||
|---|---|---|---|---|---|
| Notes | £ | £ | £ | £ | |
| Current assets | |||||
| Debtors | 11 | 10,000 | - | ||
| Cash at bank and in hand | 44,848 | 71,014 | |||
| 54,848 | 71,014 | ||||
| Creditors: amounts falling due within | |||||
| one year | 12 | (1,560) | (1,432) | ||
| Net current assets | 53,288 | 69,582 | |||
| Net assets | 53,288 | 69,582 | |||
| Income funds | |||||
| Restricted funds | 13 | 39,305 | 39,305 | ||
| Unrestricted funds | 13,983 | 30,277 | |||
| 53,288 | 69,582 |
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 2023.
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 19 April 2024
Mr M R Feeny
Trustee
Company registration number 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 2023
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 charitable company's [governing document], the Companies Act 2006, FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the Charities SORP "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 charitable company is a Public Benefit Entity as defined by FRS 102.
The charitable company has taken advantage of the provisions in the SORP for charities not to prepare a Statement of Cash Flows.
The financial statements are prepared in sterling, which is the functional currency of the charitable company. Monetary amounts 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 charitable company 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 or grantors 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 charitable company 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 charitable company 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 charitable company 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 2023
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.
1.7 Financial instruments
The charitable company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the charitable company's balance sheet when the charitable company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
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 payments 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 charitable company’s contractual obligations expire or are discharged or cancelled.
1.8 Employee benefits
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
Termination benefits are recognised immediately as an expense when the charitable company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
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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 2023
2 Critical accounting estimates and judgements
In the application of the charitable company’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 | Unrestricted | |
|---|---|---|
| funds | funds | |
| 2023 | 2022 | |
| £ | £ | |
| Donations and gifts | 122,908 | 139,113 |
4 Income from investments
| Unrestricted | Unrestricted | Unrestricted | Unrestricted | |||
|---|---|---|---|---|---|---|
| funds | funds | |||||
| 2023 | 2022 | |||||
| £ | £ | |||||
| Interest receivable | 183 | - | ||||
| Raising funds | ||||||
| Unrestricted | Total | Total | ||||
| funds | ||||||
| 2023 | 2023 | 2022 | ||||
| £ | £ | £ | ||||
| Fundraising and publicity | ||||||
| Staging fundraising events | 6,820 | 6,820 | - | |||
| 6,820 | 6,820 | - |
5 Raising funds
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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 2023
6 Expenditure on charitable activities
| Education | Education | Productions | Productions | Total | Education | Education | Education | Education | Productions | Productions | Total | ||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2023 | 2023 | 2023 | 2022 | 2022 | 2022 | ||||||||||
| £ | £ | £ | £ | £ | £ | ||||||||||
| Direct costs | |||||||||||||||
| Performance fees and | |||||||||||||||
| associated costs | - | 67,235 | 67,235 | - | 59,010 | 59,010 | |||||||||
| Residencies | 6,202 | - | 6,202 | 9,700 | - | 9,700 | |||||||||
| Consultancy | 45,600 | - | 45,600 | 42,500 | - | 42,500 | |||||||||
| Professional fees | 11,900 | - | 11,900 | - | - | - | |||||||||
| 63,702 | 67,235 | 130,937 | 52,200 | 59,010 | 111,210 | ||||||||||
| Share of support and governance costs (see note 7) | |||||||||||||||
| Support | - | 60 | 60 | - | 93 | 93 | |||||||||
| Governance | - | 1,568 | 1,568 | - | 1,436 | 1,436 | |||||||||
| 63,702 | 68,863 | 132,565 | 52,200 | 60,539 | 112,739 | ||||||||||
| Analysis by fund | |||||||||||||||
| Unrestricted funds | 63,702 | 68,863 | 132,565 | 52,200 | 60,539 | 112,739 | |||||||||
| Support costs | |||||||||||||||
| Support | Governance |
2023Support costs | Governance | 2022 | |||||||||||
| costs | costs | costs | |||||||||||||
| £ | £ | £ | £ | £ | £ | ||||||||||
| Bank charges | 60 | - | 60 | 93 | - | 93 | |||||||||
| Independent examiner's | |||||||||||||||
| fees | - | 1,568 | 1,568 | - | 1,436 | 1,436 | |||||||||
| 60 | 1,568 | 1,628 | 93 | 1,436 | 1,529 | ||||||||||
| Analysed between | |||||||||||||||
| Charitable activities | 60 | 1,568 | 1,628 | 93 | 1,436 | 1,529 |
7 Support costs
8 Trustees
None of the trustees (or any persons connected with them) received any remuneration or benefits from the charitable company during the year other than as noted in the related party note.
None of the trustees were reimbursed expenses (2022 - none).
9 Employees
There were no employees in the year (2022: none).
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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 2023
10 Taxation
The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.
11 Debtors
| Debtors | |||
|---|---|---|---|
| 2023 | 2022 | ||
| Amounts falling due within one year: | £ | £ | |
| Other debtors | 10,000 | - | |
| Creditors: amounts falling due within one year | |||
| 2023 | 2022 | ||
| £ | £ | ||
| Accruals and deferred income | 1,560 | 1,432 |
12 Creditors: amounts falling due within one year
13 Restricted funds
The restricted funds of the charity comprise the unexpended balances of donations and grants held on trust subject to specific conditions by donors as to how they may be used.
| Movement | |||||
|---|---|---|---|---|---|
| in funds | |||||
| Balance at | Transfers | Balance at | Incoming | Balance at |
|
| 1 September | 1 September | resources |
31 August | ||
| 2021 | 2022 | 2023 | |||
| £ | £ | £ | £ | £ | |
| Valentina Sanna | 38,705 | - | 38,705 | - | 38,705 |
| International Outreach | - | 600 | 600 | - | 600 |
| 38,705 | 600 | 39,305 | - | 39,305 |
The restricted funds were donated to the charity in memory of Valentina Sanna and their use for charitable purposes will be determined by Alberto and Paola Sanna who are both Trustees of the charity.
14 Unrestricted funds
The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.
| At 1 | Incoming | Resources | Transfers At 31 August | Transfers At 31 August | |
|---|---|---|---|---|---|
| September | resources | expended | 2023 | ||
| 2022 | |||||
| £ | £ | £ | £ | £ | |
| General funds | 30,277 | 123,091 | (139,385) | - | 13,983 |
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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 2023
| 14 | Unrestricted funds | (Continued) | (Continued) | |||||||
|---|---|---|---|---|---|---|---|---|---|---|
| Previous year: | At 1 | Incoming |
Resources |
**Transfers ** |
At 31 August | |||||
| September | resources |
expended | 2022 | |||||||
| 2021 | ||||||||||
| £ | £ | £ | £ | £ | ||||||
| General funds | 4,503 | 139,113 | (112,739) | (600) | 30,277 | |||||
| 15 | Analysis of net assets between funds | |||||||||
| Unrestricted | Restricted | Total | ||||||||
| funds | funds | |||||||||
| 2023 | 2023 | 2023 | ||||||||
| £ | £ | £ | ||||||||
| At 31 August 2023: | ||||||||||
| Current assets/(liabilities) | 13,983 | 39,305 | 53,288 | |||||||
| 13,983 | 39,305 | 53,288 | ||||||||
| Unrestricted | Restricted | Total | ||||||||
| funds | funds | |||||||||
| 2022 | 2022 | 2022 | ||||||||
| £ | £ | £ | ||||||||
| At 31 August 2022: | ||||||||||
| Current assets/(liabilities) | 30,277 | 39,305 | 69,582 | |||||||
| 30,277 | 39,305 | 69,582 |
16 Related party transactions
During the year, payments of £15,000 (2022: £15,000) were made to Dr A Sanna, a trustee of the charity, in his capacity as musical director and payments of £30,600 (2022: £27,500) were for professional services. No amounts were outstanding at the balance sheet date.
- 14 -