**REGISTERED CHARITY NUMBER: 1176649**
## **Report of the Trustees and**
**Unaudited Financial Statements for the Year Ended 31 August 2022**
**for**
**Greenwich Music School Trading as Greenwich Music School**
Finsbury Robinson Limited 237 Westcombe Hill Blackheath London SE3 7DW
**Greenwich Music School Trading as Greenwich Music School**
**Contents of the Financial Statements for the Year Ended 31 August 2022**
||**Page**|
|---|---|
|**Report of the Trustees**|1 to 5|
|**Independent Examiner's Report**|6|
|**Statement of Financial Activities**|7|
|**Balance Sheet**|8 to 9|
|**Notes to the Financial Statements**|10 to 18|
|**Detailed Statement of Financial Activities**|19 to 20|
**Greenwich Music School Trading as Greenwich Music School**
**Report of the Trustees for the Year Ended 31 August 2022**
Our mission is to enable creative, artistic and personal growth through music education, for the people of Greenwich and surrounding areas by delivering and developing high quality music education for all.
We address the lack of sustained, holistic music education provision which offers opportunities to progress and fulfil potential.
We work with all ages, from babies to adults, welcoming all members of the general public. Our Bursary Fund supports beneficiaries suffering financial hardship which would otherwise severely limit their access to music education.
Each year GMS benefits over 2200 people of all ages living in and around Greenwich. We have a staff team of one full-time plus three part-time, plus thirty-two professional self-employed music teachers working between 1-3 days per week.
Our programme is carefully designed to provide access, quality and progression, and to address the wide variety of needs at many levels of age and ability. We provide:
o Instrument / singing lessons, for beginners to advanced level
o Early years music making for ages 0-5 and parents/carers
o Courses to make music together and learn about music, including bands, choir and music writing classes
o Workforce development through professional training & CPD for teachers, GMS teacher network, teacher training
o London Conducting Academy, nurturing early career professionals in one of Europe's leading conductor courses
## **Future plans**
During the next year we plan to consolidate and grow our activity using the significantly increased capacity of our new premises at The Stables, reaching out to new areas and building partnerships to serve more communities in Greenwich and South-East London.
We will continue to build our relationships and partnerships with other organisations, particularly in the local area, working to strengthen connections with diverse communities, support and improve music education in existing settings and networks, and to leverage support and funding to further our work and vision.
During a period that looks set to continue turbulent and challenging financially, both for households and organisations, Greenwich Music School will continue to enhance its resilience, responsibly investing in our growth and remaining efficient and agile to face each challenge.
Review of the year
The Stables, Charlton
Page 1
**Greenwich Music School Trading as Greenwich Music School**
**Report of the Trustees for the Year Ended 31 August 2022**
Greenwich Music School continued to flourish in this fifth year since our foundation, building an ever-growing musical community which began to outgrow our premises. With venue space for one-to-one lessons full and new enquiries continuing to arrive daily, we developed an expansion plan to invest in additional premises so that we can grow our programme of activity.
A beautiful space at The Stables, Charlton House became available, and we worked to set up a new teaching centre at this location. This set-up work is ongoing, and includes refurbishment works to improve accessibility, education capabilities and efficiency. The building is historic and Grade 1 listed, so particular care is needed with any changes.
An expansion allows us to consolidate for the first time group teaching, one-to-one lessons and a small office in one contained venue. More opportunities will be created for learners to feel greater belonging to our artistic community, for teachers to share ideas and best practice, and for executive, office and teaching teams to keep more in touch and build the organisational culture and quality standards.
The investment in premises increases our fixed room capacity by around 100%, allowing us to serve a significantly larger community from across Greenwich, South East London and beyond.
## **Access and community**
During the year we supported over 60 students and families through our Bursary Fund, including 51 young people who received ongoing long term support towards lesson fees having demonstrated consistently good engagement, effort and attendance, as well as ongoing financial need. We developed our marketing and organisational relationships to reach ever more of those facing barriers to accessing high quality music education.
We worked with Young Greenwich, the youth service delivered by Charlton Athletic Community Trust (CACT) on behalf of the Royal Borough of Greenwich, to run creative band, song-writing and guitar workshops at Valley Central Youth Club, The Valley football stadium as part of the borough youth service Young Greenwich holiday programme "Futureversity Summer 2022". There was no charge to attend the sessions, which were for young people who live, work or study in Greenwich.
In May we took part in a local community day organised by Charlton & Blackheath Amateur Horticultural Society in the grounds of Charlton House. We held mini-sessions to explore everyday music-making with the local community, including instrument-making and singing.
Mindful of our mission for the public benefit and amidst a challenging financial environment with increased cost of living and inflation at 8%, we took the decision to protect our community of learners and increase lesson fees by just 3%, challenging our organisation to be ever more efficient and prudent. We were delighted that several members of the community came forward to join our Amici friends scheme, supporting GMS through a monthly donation.
## **Saturday creative bands programme**
Page 2
**Greenwich Music School Trading as Greenwich Music School**
**Report of the Trustees for the Year Ended 31 August 2022**
Responding to input from young people, as well as parents and teachers, and following pilot courses in school holidays, we launched a Saturday rock, pop and songwriting programme which includes band classes, a songwriting workshop, music theory, and instrument lessons for young people - both beginners and more experienced players.
The programme takes place in the well-equipped music department of Thomas Tallis School, a large comprehensive school in Kidbrooke. The students gave their first performances at our Spring term concert at Mycenae House and were well received.
We will continue to evolve and reshape this programme in response to the needs of young people in different communities across the area, both those who have already joined, and those who are not yet part of it.
## **Awards and recognition**
We were thrilled to win the Tourism and Culture Award at the Best of Royal Greenwich Business Awards 2021, which took place on 22nd October at the InterContinental O2 hotel.
Royal Borough of Greenwich council received 235 applications for the 9 award categories. Judges were impressed by our inclusive, agile and resilient response to the pandemic and our award category was sponsored by Visit Greenwich and the O2. This award recognises our position as a leading cultural organisation in the area.
Greenwich Music School was shortlisted for the award for Excellence in Primary / Early Years at the prestigious Music & Drama Education Awards 2022, which took place at the Marriott Grosvenor Square, London, on March 23rd 2022. Our category was sponsored by Classic FM, along with headline sponsor Casio.
Our shortlisting was for our project 'Musical Beginnings' which developed a partnership and programme to increase music-making in the first year for babies. It is designed and directed by the Principal, Bethan Scolding and was funded by Youth Music.
## **Early Years music in the community**
The second phase was completed of our flagship early years music project, Music Beginnings, in partnership with Quaggy Development Trust (QDT) and funded by Youth Music to improve access and grow sustained music-making opportunities for the 0-5s in Greenwich.
We delivered: o 25 parent & baby sessions for 0-1 year olds o 200 songbooks and shakers with accompanying online videos o Ukulele tuition for 11 QDT staff o Music-leader mentoring at Quaggy nursery o Training in children's musical play (Jane Parker, TakeArt), for QDT and GMS teams o Embedded workforce development - skill sharing, journaling, team reflection
Page 3
**Greenwich Music School Trading as Greenwich Music School**
**Report of the Trustees for the Year Ended 31 August 2022**
Our partnership with QDT to deliver sessions through QDT children's centres helped us to reach families facing significant economic barriers to music education, with these centres each serving different areas of significant economic deprivation (according to the ONS Index of Multiple Deprivation).
Structured impact monitoring demonstrated that the project grew QDT staff skills to initiate musical interactions with babies and children; to scaffold and support babies' and children's musical play; and to spot opportunities to interact musically with babies and children.
By creating opportunities for parents/carers to learn about baby's musical development, and enjoy making music with their baby, the project grew parent/carer confidence to interact musically with their baby, and to explore music at home with their baby.
## **Workforce development**
Aware of a skills gap in the market, we set up an apprenticeship scheme for group music leaders. After an open recruitment process two apprentices were successful and joined us for a programme of hands-on training and learning during the summer term, led by our Principal. A realistic level of reimbursement ensured that financial background was not a barrier for this opportunity.
We continued to grow our Teacher Network, connecting teachers across South East London working in every music education context.
## **Fundraising**
In October we were delighted to receive a grant of £18,000 from Foyle Foundation, one of the UK's leading arts and education trusts. The grant was awarded towards core costs and to support and strengthen provision of music learning opportunities in deprived areas of Greenwich, Lewisham & South East London. GMS is sincerely grateful to Foyle Foundation for this support.
Following generous support from Orinoco Foundation for our Bursary Fund of $10,000 (USD) in each year 2020 and 2021, the foundation gave $20,000 this year. This significantly increases our ability to provide subsidised places and thus to increase access to high quality music education.
We were selected as one of three local causes for support through the Co-op Local Community Fund, with Co-op members country-wide able to choose GMS as their cause, to receive 2p for every pound spent on Co-op goods for one year from late October. Our community and wider supporters raised over £990 by the end of August, with at least as much again expected by the time our place finishes, in October 2022. The money raised goes to our Bursary Fund.
GMS were very pleased to be drawn in the August 2021 lottery draw at the Arnold Clark Community Fund, winning £1000 for our Bursary Fund.
Through supportive facilitation from Royal Borough Greenwich we were awarded government funding in the form of £10,000 through the Business Resilience Grant Scheme, and £2,667 through the Omicron Hospitality and Leisure Grant.
Page 4
**Greenwich Music School Trading as Greenwich Music School**
**Report of the Trustees for the Year Ended 31 August 2022**
To help foster ongoing support from those members of our community able to give monthly, we launched our 'Amici' friends scheme at the Autumn term student platform concerts in December. The scheme is designed with different tiers, each illustrated with examples of the type of activity it could support.
## **Strategic priorities**
The board and senior leadership worked on plans for our next steps to further access and diversity throughout our provision, with a review planned during late 2022 of our current approach and activity.
## **STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document**
The charity is controlled by its governing document, the Constitution of Greenwich School, and is a Charitable Incorporated Organisation ( Foundation structure) whose only voting member are its charity trustees.
## **REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number**
1176649
## **Principal address**
Vanbrugh Studio 137 Vanbrugh Hill Greenwich London SE10 9HP
## **Trustees**
L Beveridge R Hill S Stockley Y Zheng B Rous
## **Independent Examiner**
Finsbury Robinson Limited 237 Westcombe Hill Blackheath London SE3 7DW
Approved by order of the board of trustees on 1 March 2023 and signed on its behalf by:
Trustee
Page 5
Independent Examiner's Reportto the Twstees of
Greenwich Music School
Independent examlnerfs report to the trustees of Greenwich Muslc School
I report to the charlty trustees on my examination of the accounts of Greenwich Musie Sthool (the Trust
for the year ended 31 August 2022.
Responsibilities and basis of report
As the charity trustees of the Trust you are responsible for the preparatlon of the accounts In accordance
wlth the requlremenis of the Charltles Act 20111'the Act'l.
I report In respect of my examlnatlon of the Trust's accounts carrled out under sectlon 145 of the Act and
In carrylng out my examination I have followed all applicable Direction5 given by the Charity Commission
under sectlon 14515llbl of the Act.
Independent examlner's Statement
Since your charity's gross income exceeded £250,000 your examiner must be a member of a listèd body. I
can conflrm that l am quallfled to undertake the examlnatlon because l am a reglstered member of _ whlch
Is one of the Ilsted bodles.
I have completed my examlnation, I confirm that no material maiters have ¢ome to my attentlon In
connectlon wlth the examinatlon glving me cause to belleve that In any materlal respect..
accountlng records were not kept In respeci of the Trust as requlred by sectlon 130 of the Act,. or
the account5 do not accord wlth those records,. or
the accounts do not comply wlth the appllcable requlrements concernlng the form and content of
accounts set out In the Charitles (Account5 and Reports) Regulatlons 2008 other than any
requlrement that the accounts 8lve a true and falr vlew whlch Is not a matter consldered as part of
an independent examlnatlon.
I have no con¢erns and have come acr055 no other matters in connection with the examlnatlon to whlch
attentlon should be drawn In thls report In order to enable a proper understandln8 of the accounts to be
reached.
Darren Franks BA FCCA
Finsbury Robinson Limited
237 Westcombe Hill
Blackheath
London
SE3 7DW
l March 2023
Page 6
## **Greenwich Music School Trading as Greenwich Music School**
## **Statement of Financial Activities for the Year Ended 31 August 2022**
|Unrestricted
funds
Notes
£
**INCOME AND ENDOWMENTS FROM**
Donations and legacies
363,324
**EXPENDITURE ON**
Raising funds
2
12,315
**Charitable activities**
Tuition
354,767
Other
480
**Total**
367,562
**NET INCOME/(EXPENDITURE)**
(4,238)
**RECONCILIATION OF FUNDS**
**Total funds brought forward**
38,519
**TOTAL FUNDS CARRIED FORWARD**
34,281|Restricted
funds
£
18,934
-
20,911
-
20,911
(1,977)
11,125
9,148|31.8.22
Total
funds
£
382,258
12,315
375,678
480
388,473
(6,215)
49,644
43,429|31.8.21
Total
funds
£
305,312|
|---|---|---|---|
||||21,059
259,802
3,166|
||||284,027|
||||21,285
28,359|
||||49,644|
The notes form part of these financial statements
Page 7
## **Greenwich Music School Trading as Greenwich Music School**
## **Balance Sheet 31 August 2022**
|Unrestricted
funds
Notes
£
**FIXED ASSETS**
Tangible assets
5
50,205
**CURRENT ASSETS**
Debtors
6
19,648
Cash at bank and in hand
73,956
93,604
**CREDITORS**
Amounts falling due within one year
7
(46,583)
**NET CURRENT ASSETS**
47,021
**TOTAL ASSETS LESS CURRENT LIABILITIES**
97,226
**CREDITORS**
Amounts falling due after more than one
year
8
(62,945)
**NET ASSETS**
34,281|Restricted
funds
£
-
-
9,148
9,148
-
9,148
9,148
-
9,148|31.8.22
Total
funds
£
50,205
19,648
83,104
102,752
(46,583)
56,169
106,374
(62,945)
43,429|31.8.21
Total
funds
£
53,003
10,679
107,415
118,094
(27,954)
90,140
143,143
(93,499)
49,644|
|---|---|---|---|
The notes form part of these financial statements
continued...
Page 8
## **Greenwich Music School Trading as Greenwich Music School**
## **Balance Sheet - continued 31 August 2022**
|**FUNDS**
10
Unrestricted funds:
General fund
Restricted funds:
Bursary Fund
Youth Music Fund
Postlethwaite Fund
**TOTAL FUNDS**|34,281
7,773
-
1,375
9,148
43,429|38,519
4,639
5,111
1,375|
|---|---|---|
|||11,125|
||||
|||49,644|
The financial statements were approved by the Board of Trustees and authorised for issue on 1 March 2023 and were signed on its behalf by:
Trustee
The notes form part of these financial statements
Page 9
**Greenwich Music School Trading as Greenwich Music School**
**Notes to the Financial Statements for the Year Ended 31 August 2022**
## **1. ACCOUNTING POLICIES**
## **Basis of preparing the financial statements**
The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities Act 2011. The financial statements have been prepared under the historical cost convention.
## **Income**
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
## **Expenditure**
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost 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 resources.
Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure.
## **Tangible fixed assets**
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 10% on reducing balance Computer equipment - 33% on cost
## **Taxation**
The charity is exempt from tax on its charitable activities.
## **Fund accounting**
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
continued...
Page 10
**Greenwich Music School Trading as Greenwich Music School**
## **Notes to the Financial Statements - continued for the Year Ended 31 August 2022**
## **1. ACCOUNTING POLICIES - continued**
## **Hire purchase and leasing commitments**
Rentals paid under operating leases are charged to the Statement of Financial Activities on a straight line basis over the period of the lease.
## **Pension costs and other post-retirement benefits**
The charity operates a defined contribution pension scheme. Contributions payable to the charity's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.
## **2. RAISING FUNDS**
## **Raising donations and legacies**
|Support costs
**Investment management costs**
Property repairs
Interest payable and similar charges
Aggregate amounts|31.8.22
£
3,766
31.8.22
£
1,226
4,575
5,801
12,315|31.8.21
£
15,681|
|---|---|---|
|||31.8.21
£
273
5,105
5,378
21,059|
## **3. TRUSTEES' REMUNERATION AND BENEFITS**
There were no trustees' remuneration or other benefits for the year ended 31 August 2022 nor for the year ended 31 August 2021.
## **Trustees' expenses**
There were no trustees' expenses paid for the year ended 31 August 2022 nor for the year ended 31 August 2021.
continued...
Page 11
## **Greenwich Music School Trading as Greenwich Music School**
## **Notes to the Financial Statements - continued for the Year Ended 31 August 2022**
|**4.**
**COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES**
Unrestricted
funds
£
**INCOME AND ENDOWMENTS FROM**
Donations and legacies
239,382
**EXPENDITURE ON**
Raising funds
21,059
**Charitable activities**
Tuition
187,225
Other
3,166
**Total**
211,450
**NET INCOME/(EXPENDITURE)**
27,932
**RECONCILIATION OF FUNDS**
**Total funds brought forward**
10,587
**TOTAL FUNDS CARRIED FORWARD**
38,519|Restricted
funds
£
65,930
-
72,577
-
72,577
(6,647)
17,772
11,125|Total
funds
£
305,312|
|---|---|---|
|||21,059
259,802
3,166|
|||284,027|
|||21,285
28,359|
|||49,644|
continued...
Page 12
## **Greenwich Music School Trading as Greenwich Music School**
## **Notes to the Financial Statements - continued for the Year Ended 31 August 2022**
## **5. TANGIBLE FIXED ASSETS**
|**COST**
At 1 September 2021
Additions
At 31 August 2022
**DEPRECIATION**
At 1 September 2021
Charge for year
At 31 August 2022
**NET BOOK VALUE**
At 31 August 2022
At 31 August 2021
**6.**
**DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
Trade debtors
Other debtors|Fixtures
and
Computer
fittings
equipment
£
£
49,946
31,230
-
16,807
49,946
48,037
9,383
18,790
4,056
15,549
13,439
34,339
36,507
13,698
40,563
12,440
31.8.22
£
17,830
1,818
19,648|Totals
£
81,176
16,807|
|---|---|---|
|||97,983|
|||28,173
19,605|
|||47,778|
|||50,205|
|||53,003|
|||31.8.21
£
1,123
9,556|
|||10,679|
continued...
Page 13
## **Greenwich Music School Trading as Greenwich Music School**
## **Notes to the Financial Statements - continued for the Year Ended 31 August 2022**
|**7.**
**CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
Bank loans and overdrafts (see note 9)
Trade creditors
Taxation and social security
Other creditors
**8.**
**CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR**
Bank loans (see note 9)
**9.**
**LOANS**
An analysis of the maturity of loans is given below:
Amounts falling due within one year on demand:
Bank loans
Amounts falling between one and two years:
Bank loans - 1-2 years
Amounts falling due between two and five years:
Bank loans - 2-5 years|31.8.22
£
30,554
10,924
1,744
3,361
46,583
31.8.22
£
62,945
31.8.22
£
30,554
48,139
14,806|31.8.21
£
25,113
300
866
1,675|
|---|---|---|
|||27,954|
|||31.8.21
£
93,499|
|||31.8.21
£
25,113|
|||30,554|
|||62,945|
continued...
Page 14
## **Greenwich Music School Trading as Greenwich Music School**
## **Notes to the Financial Statements - continued for the Year Ended 31 August 2022**
## **10. MOVEMENT IN FUNDS**
|**Unrestricted funds**
General fund
**Restricted funds**
Bursary Fund
Youth Music Fund
Postlethwaite Fund
**TOTAL FUNDS**|Net
movement
At 1.9.21
in funds
£
£
38,519
(4,238)
4,639
3,134
5,111
(5,111)
1,375
-
11,125
(1,977)
49,644
(6,215)|At
31.8.22
£
34,281
7,773
-
1,375|
|---|---|---|
|||9,148|
|||43,429|
Net movement in funds, included in the above are as follows:
|**Unrestricted funds**
General fund
The Foyle Foundation
**Restricted funds**
Bursary Fund
Youth Music Fund
**TOTAL FUNDS**|Incoming
resources
£
345,324
18,000
363,324
17,963
971
18,934
382,258|Resources
Movement
expended
in funds
£
£
(349,562)
(4,238)
(18,000)
-
(367,562)
(4,238)
(14,829)
3,134
(6,082)
(5,111)
(20,911)
(1,977)
(388,473)
(6,215)|
|---|---|---|
continued...
Page 15
**Greenwich Music School Trading as Greenwich Music School**
## **Notes to the Financial Statements - continued for the Year Ended 31 August 2022**
## **10. MOVEMENT IN FUNDS - continued**
## **Comparatives for movement in funds**
|At 1.9.20
£
**Unrestricted funds**
General fund
10,587
**Restricted funds**
Bursary Fund
-
Youth Music Fund
8,736
Postlethwaite Fund
1,375
Restricted
7,661
17,772
**TOTAL FUNDS**
28,359
Comparative net movement in funds, included in the above are as follows:
Incoming
resources
£
**Unrestricted funds**
General fund
239,382
**Restricted funds**
The Social Enterprise Support Fund
(UnLtd)
39,245
Bursary Fund
15,685
Youth Music Fund
-
Restricted
11,000
65,930
**TOTAL FUNDS**
305,312|Net
movement
At
in funds
31.8.21
£
£
27,932
38,519
4,639
4,639
(3,625)
5,111
-
1,375
(7,661)
-
(6,647)
11,125
21,285
49,644
Resources
Movement
expended
in funds
£
£
(211,450)
27,932
(39,245)
-
(11,046)
4,639
(3,625)
(3,625)
(18,661)
(7,661)
(72,577)
(6,647)
(284,027)
21,285|
|---|---|
continued...
Page 16
**Greenwich Music School Trading as Greenwich Music School**
## **Notes to the Financial Statements - continued for the Year Ended 31 August 2022**
## **10. MOVEMENT IN FUNDS - continued**
A current year 12 months and prior year 12 months combined position is as follows:
|**Unrestricted funds**
General fund
**Restricted funds**
Bursary Fund
Youth Music Fund
Postlethwaite Fund
Restricted
**TOTAL FUNDS**|Net
movement
At 1.9.20
in funds
£
£
10,587
23,694
-
7,773
8,736
(8,736)
1,375
-
7,661
(7,661)
17,772
(8,624)
28,359
15,070|At
31.8.22
£
34,281
7,773
-
1,375
-|
|---|---|---|
|||9,148|
|||43,429|
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
|**Unrestricted funds**
General fund
The Foyle Foundation
**Restricted funds**
The Social Enterprise Support Fund
(UnLtd)
Bursary Fund
Youth Music Fund
Restricted
**TOTAL FUNDS**|Incoming
resources
£
584,706
18,000
602,706
39,245
33,648
971
11,000
84,864
687,570|Resources
Movement
expended
in funds
£
£
(561,012)
23,694
(18,000)
-
(579,012)
23,694
(39,245)
-
(25,875)
7,773
(9,707)
(8,736)
(18,661)
(7,661)
(93,488)
(8,624)
(672,500)
15,070|
|---|---|---|
continued...
Page 17
**Greenwich Music School Trading as Greenwich Music School**
## **Notes to the Financial Statements - continued for the Year Ended 31 August 2022**
## **11. RELATED PARTY DISCLOSURES**
There were no related party transactions for the year ended 31 August 2022.
Page 18
## **Greenwich Music School Trading as Greenwich Music School**
## **Detailed Statement of Financial Activities for the Year Ended 31 August 2022**
|**INCOME AND ENDOWMENTS**
**Donations and legacies**
Donations
Grants
Tuition Fees
Bank Interest
**Total incoming resources**
**EXPENDITURE**
**Other trading activities**
Purchases
**Investment management costs**
Property repairs
Bank loan interest
Interest Paid
**Charitable activities**
Wages
Sub Contractors
Pensions
Room Hire
Light and heat
Depreciation of tangible fixed assets
Grants to individuals
**Other**
Staff Training|31.8.22
£
-
49,601
332,650
7
382,258
382,258
933
1,226
-
4,575
5,801
44,602
216,044
1,085
52,951
3,469
19,605
14,829
352,585
480|31.8.21
£
3,000
62,930
239,382
-|
|---|---|---|
|||305,312|
|||305,312
-
273
5,105
-|
|||5,378
44,906
146,941
798
24,453
2,656
14,573
11,046|
|||245,373
1,546|
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Page 19
## **Greenwich Music School Trading as Greenwich Music School**
## **Detailed Statement of Financial Activities for the Year Ended 31 August 2022**
|**Support costs**
**Management**
Advertising
**Finance**
Other operating leases
Bank charges
**Other**
Insurance
Telephone
Postage and stationery
Sundries
Cleaning
Computer Costs
**Other 2**
Travelling
**Governance costs**
Accountancy and legal fees
Total resources expended
**Net (expenditure)/income**|31.8.22
£
3,766
735
99
834
1,376
1,326
1,168
1,119
3,505
9,080
17,574
320
6,180
388,473
(6,215)|31.8.21
£
15,591
780
3,142|
|---|---|---|
|||3,922
923
887
246
620
3,440
4,278|
|||10,394
203
1,620|
|||284,027|
|||21,285|
This page does not form part of the statutory financial statements
Page 20