2021-07-31-accounts - Buckinghamshire Music Trust

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Trustees		D C Mansfield
		L Presencer
		J M Atkin
		P Downton		(Appointed	26 November 2021)
		SJ Imbriano		(Appointed	26 November 2021)
Charity number		1177780
Company	number	11198293
Registered	office	Aylesbury Music	Centre
		Walton Road
		Aylesbury
		8uckinghamshire
		HP21 7ST
Auditor		Whitley Stimpson	Limited
		29-31 Castle Street
		High Wycombe
		Buckinghamshire
		HP13 6RU
Accountants		Amersham Accountancy
		3A Station Road
		Amersham
		Buckinghamshire
		HP7 OBQ

			Page
Trustees	report		1-5
Statement	ofTrustees	responsibilities
Independent auditor's		report	7-9
Statement	offinancial	activities	10
Balance sheet			11-12
Statement	of cash flows		13
Notes to the financial		statements	14-23
Statement	offinancial	activities	24-25

In March 2020, the Covid-19 pandemic changed the landscape completely. BMT responded by developing an	In March 2020, the Covid-19 pandemic changed the landscape completely. BMT responded by developing an	In March 2020, the Covid-19 pandemic changed the landscape completely. BMT responded by developing an
online action plan to keep		as much delivery going as possible, beginning Zoom teaching the first week of lockdown,
having put new protocols		in place, training teachers and provided new digital resources for both teachers and
students. The approach	below summarises the measures taken across the full and partial lockdowns during the
period ofthe pandemic.
Action		Notes
Central Resource Bank		Sharepoint area 'Central resources' being created for all teachers to be able to upload sheet music and audio files for backing tracks and accompaniments so that everyone has access to them to use for teaching etc.
		All students who had ABRSM and Trinity exams cancelled were offered the opportunity
BMT online		to do online and face-to-face exams internally with BMT and receive a BMT certificate.
examinations		These were highly popular and allowed continued progress for students not having to
		stick at a level and wait for the national exam boards to resume activity
Music centre ensembles and cholrs		A blended approach in response to different scenarios. All activities were maintained through lockdowns using a mixture of Zoom and Youtube. Teachers and ensemble leaders developed new ways of working and rehearsing to ensure players and singers remained engaged and supported
YouTube playllsts		Various content to provide different groups with access to musical learning remotely in place ofactivities or which support IVteaching and other activities.
~ 'How to'		Support for home learning with practical advice to replace the physical presence ofa
videos		teacher and to be able to use digital tools effectively

		Unrestricted	Restricted	Total	Unrestricted	Restricted	Total
		funds	funds		funds	funds
		2021	2021		2020	2020	2020
	Notes		R			R
Income from:
Donations and legacies	2	997,741	72,000	1,069,741	849,725	67,514	917,239
Charitable activities	3	1,054,295		1,054,295	1,166,281	4,000	1,170,281
Total income		2,052,036	72,000	2,124,036	2,016,006	71,514	2,087,520
Ex enditure on:
Charitable activities	4	2,061,622	64,508	2,126,130	2,002,629	42,328	2,044,957
Other	8	7,161		7,161	1,657		1,657
Total resources expended		2,068,783	64,508	2,133,291	2,004,286	42,328	2,046,614
Net (outgoing)/incoming
resources before transfers		(16,747)	7,492	(9,255)	11,720	29,186	40,906
Gross transfers
between funds		17,514	(17,514)
Net income/(expenditure)	for
the year/
Net movement in funds		767	(10,022)	(9,255)	11,720	29,186	40,906
Fund balances at 31 July	2020
		(160,849)	29,186	(131,663)	(172,569)		(172,569)
Fund balances at 30July
2021		(160,082)	19,164	(140,918)	(160,849)	29,186	(131,663)

			2021		2020
		Notes			R
Fixed assets
Tangible assets				3,806
Current assets
Debtors		10	245,323		72,699
Cash at bank and in	hand		6,165		53,332
			251,488		126,031
Creditors: amounts	falling due within
one year		12	(357,787)		(207,381)
Net current liabilities				(106,299)		(81,350)
Total assets less current liabilities				(102,493)		(81,350)
Creditors. amounts	falling due after
more than one year		13		(38,425)		(50,313)
Net liabilities				(140,918)		(131,663)
Income funds
Restricted funds				19,164		29,186
Unrestricted funds				(160,082)		(160,849)
				(140,918)		(131,663)

					2021		2020
				Notes	R
Cash flows from operating			activities
Cash (absorbed by)/generated			from	19
operations						(39,930)		25,773
Investing activities
Purchase oftangible fixed	assets				(5,349)
Net cash used in investing			activities			(5,349)
Financing activities
Repayment of bank loans					(1,888)		50,313
Net cash (used in)/generated			from
financing activities						(1,888)		50,313
Net (decrease)/increase	in	cash and		cash
equivalents						(47,167)		76,086
Cash and cash equivalents		at beginning		ofyear		53,332		(22,754)
Cash and cash equivalents			at end of	year		6,165		53,332

		Unrestricted	Restricted	Total	Unrestricted	Restricted	Total
		funds	funds		funds	funds
		2021	2021	2021	2020	2020	2020
		R	R			R	R
Grants		997,741	72,000	1,069,741	849,725	67,514	917,239
Grants receivable for
core activities
Coronavirus	job retention
scheme grant		28,400		28,400	8,893		8,893
Other grants		""969,341		969,341	""840,832		840,832
Other			"72,000	72,000		"67,514	67,514
		997,741	72,000	1,069,741	849,725	67,514	917,239

		2021	2020
		R
Music tuition		985,060	1,056,995
Exam fees		28,652	10,818
Other income		40,583	102,468
		1,054,295	1,170,281
Analysis by	fund
Unrestricted	funds	1,054,295	1,166,281
Restricted funds			*4,000

				Unrestricted	Restricted	Total	Unrestricted	Restricted	Total
				Fund	Fund	2021	Fund	Fund	2020
				2021	2021		2020	2020
				R		R	R
Staff costs				1,276,943	27,883	1,304,826	1,315,673	28,083	1,343,756
Depreciation	and
impairment				1,543		1,543
Other operating		leases		48,715		48,715	36,967		36,967
Licensing and
subscriptions				4,020		4,020	885		885
Exam fees costs				22,529		22,529	5,576		5,576
Events and tours				83,751	36,625	120,376	30,103	11,832	41,935
Equipment expensed				100		100	2,000		2,000
Instruments	repair			3,128		3,128	5,861	820	6,681
Storage				7,659		7,659	7,185		7,185
DBSchecks				1,782		1,782	1,980		1,980
Sundry expenses				43		43	437		437
Training and	meeting		costs	1,234		1,234	5,314		5,314
Staff welfare				1,898		1,898
				1,453,345	64,508	1,517,853	1,411,981	40,735	1,452,716
Share ofsupport		costs (see
note 5)				598,752		598,752	577,955	1,413	579,368
Share ofgovernance			costs
(see note 5)				9,525		9,525	12,693	180	12,873
				2,061,622	64,508	2,126,130	2,002,629	42,328	2,044,957
Analysis by	fund
Unrestricted	funds			2,061,622		2,061,622	2,002,629		2,002,629
Restricted funds					64,508	64,508		42,328	42,328
				2,061,622	64,508	2,126,130	2,002,629	42,328	2,044,957

Support	cos	ts
			Support	Governance	2021	Support	Governance	2020
			costs	costs		costs	costs
				R	R		R
Staff costs			502,413		502,413	516,583		516,583
Rates and	water		4,685		4,685	2,929		2,929
Insurance			8,523		8,523	5,770		5,770
Light and	heat		6,307		6,307	9,154		9,154
Telephone			4,860		4,860	4,962		4,962
Postage and		stationery	1,229		1,229	1,188		1,188
Advertising						1,244		1,244
Motor expenses			19,261		19,261	497		497
Travelling						345		345
Premise expenses			4,901		4,901	4,526		4,526
Bank charges			1,591		1,591	3,089		3,089
Bank loan	interest		1,238		1,238	313		313
IT software			43,744		43,744	28,768		28,768
Audit fees				5,700	5,700		8,400	8,400
Legal and	professional					273		273
Accountancy		and legal
fees				3,825	3,825		4,200	4,200
			598,752	9,525	608,277	579,641	12,600	592,241
Analysed	between
Charitable	activities		598,752	9,525	608,277	579,641	12,600	592,241

Employment costs							2021	2020
							R
Wages and salaries							1,417,269	1,464,376
Social security costs							106,348	110,621
Other pension costs							283,622	285,342
							1,807,239	1,860,339
The number of employees	whose	annual	remuneration	was	more	than
F60,000 isas follows:
							2021	2020
							Number	Number

Other
		Unrestricted	Unrestricted
		funds	funds
		2021	2020
Other interest		2,104	1,657
Bad and doubtful	debts	5,057

Tangible	fixed assets
			Music Motor vehicles		Total
			instruments
Cost
Additions			1,799	3,550	5,349
At 30July	2021		1,799	3,550	5,349
Depreciation and impairment
Depreciation charged		in the year	360	1,183	1,543
At 30 July	2021		360	1,183	1,543
Carrying	amount
At 30July	2021		1,439	2,367	3,806

10	Debtors
						2021	2020
	Amounts falling due			within one year:			R
	Trade debtors					49,156	54,742
	Prepayments	and accrued income				196,167	17,957
						245,323	72,699
11	Loans and overdrafts
						2021	2020
						R
	Bank loans					48,425	50,313
	Payable within	one year				10,000
	Payable after one year					38,425	50,313
12	Creditors: amounts			falling due within one year
						2021	2020
					Notes
	Bank loans					10,000
	Other taxation	and social security				166,980	109,365
	Deferred income				14	28,320
	Trade creditors					23,798	12,429
	Pension payable					118,749	75,332
	Accruals and deferred			income		9,940	10,255
						357,787	207,381
13	Creditors: amounts		falling due after more than one year
						2021	2020
					Notes	R
	Bank loans					38,425	50,313
14	Deferred income
						2021	2020
						R
	Other deferred	income				28,320

Analysis ofnet assets	between funds
	Unrestricted	Restricted	Total	Unrestricted	Restricted	Total
	funds	funds		funds	funds
	2021	2021	2021	2020	2020	2020
			R	R
Fund balances at 30
July 2021 are
represented by:
Tangible assets	3,806		3,806
Current assets/(liabilities)
	(125,463)	19,164	(106,299)	(110,536)	29,186	(81,350)
Long term liabilities	(38,425)		(38,425)	(50,313)		(50,313)
	(160,082)	19,164	(140,918)	(160,849)	29,186	(131,663)

2021	2020
	R
10,833

The following Trustees entered	with BMT during the	period/year:
	2021	2020
D Mansfield	840	21,533
JAtkin	1,080
	1,920	21,533

19	Cash generated	from	operations	operations	operations		2021	2020
							R
	(Deficit)/surpus for the		year				(9,255)	40,906
	Adjustments for:
	Depreciation and	impairment		oftangible fixed assets			1,543
	Movements in working		capital:
	(Increase) in debtors						(172,624)	(27,548)
	Increase in creditors						112,086	47,350
	Increase/(decrease) in		deferred income				28,320	(34,935)
	Cash (absorbed	by)/generated			from operations		(39,930)	25,773
20	Analysis ofchanges		in net	debt
						At 31July 2020	Cash flows	At 30July 2021
						R		R
	Cash at bank and	in hand				53,332	(47,167)	6,165
	Loans falling due	within	one	year			(10,000)	(10,000)
	Loans falling due	after	more	than	one year	(50,313)	11,888	(38,425)
						3,019	(45,279)	(42,260)

				Unrestricted	Restricted	Total Unrestricted	Total Unrestricted	Restricted	Total
				funds	funds		funds	funds
				2021	2021	2021	2020	2020	2020
				R			R	R	R
INCOME
Donation and legacies
Grants				997,741	72,000	1,069,741	849,725	67,514	917,239
Charitable	activities
Music tuition				985,060		985p6p	1,056,995		1,056,995
Exam fees				28,652		28,652	10,818		10,818
Other income				40,583		40,583	98,468	4,000	102,468
				1,054,295		1,054,295	1 166281	4,000	1,170,281
Total incoming		resources		2,052,036	72,QQP	2,124,036	2,016,006	71,514	2,087,520
EXPENDITURE
Charitable activities
Staff costs				1,276,943	27,883	1,304,826	1,315,673	28,083	1,343,756
Depreciation	and
impairment				1,543		1,543
Other operating		leases		48,715		48,715	36,967		36,967
Licensing and
subscriptions				4,020		4,020	885		885
Exam fees costs				22,529		22,529	5,576		5,576
Events and	tours			83,751	36,625	120,376	30,104	11,831	41,935
Equipment expensed				100		100	2,000		2,000
Instruments	repair			3,128		3,128	5,861	820	6,681
Storage				7,659		7,659	7,185		7,185
DBSchecks				1,782		1,782	1,980		1,980
Sundry expenses				43		43	437		437
Training and	meeting costs			1,234		1,234	5,314		5,314
Staff welfare				1,898		1,898
				1,453,345	64,508	1,517,853	1,411,982	40,734	1,452,716
Other
Other interest				2,104		2,104	1,657		1,657
Bad and doubtful			debt	5,057		5,057
				7,161		7,161	1,657		1,657

Supportcosts
Management
Staff costs	502,413		502,413	515,858	725	516,583
Rates and water	4,685		4,685	2,929		2,929
Insurance	8,523		8,523	5,770		5,770
Light and heat	6,307		6,307	9,154		9,154
Telephone	4,860		4,860	4,962		4,962
Postage and stationery	1,229		1,229	996	192	1,188
Advertising				1,244		1,244
Motor expenses	19,261		19,261		497	497
Travelling				345		345
Premise expenses	4,901		4,901	4,526		4,526
	552,179		552,179	545,784	1,414	547,198
Finance
Bank charges	1,591		1,591	3,089
Bank loan interest	1,238		1,238	313
	2,829		2,829	3,402		3,402
Information technology
ITsoftware	43,744		43,744	28,768		28,768
Human resources
Legal and professional				93	180	273
Governance costs
Audit fees	5,700		5,700	8,400		8,400
Accountancy and legal
fees	3,825		3,825	4,200		4,200
	9,525		9,525	12,600		12,600
Total resources expended	2 068,783	64,508	2,126,130	2,004,286	42,328	2,046,614
Net income/(expenditure)	(16,747)	7,492	(9,255)	11,720	29,186	40,906