2022-07-31-accounts - Buckinghamshire Music Trust

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	Page
Trustees report	1-5
Statement ofTrusteesresponsibilities	b
lndependent auditor'sreport	7-9
Statement offinancialactivities	10
Balance sheet	11-12
Statementofcash flows	13
Notes to thefinancialstatements	14-23

		Unrestricted	Restricted	Total	Unrestricted	Restricted	Total
		funds	funds		funds	funds
	Notes	2022 I	2022 s	2022 €	2021 f	2021 €	2021t
lncome from:
Donationsandlegacies	2	825,652	15,000	840,652	997,741	72,O00	1,069,741
Charitable activities	3	1,363,444		1,363,444	1,054,295		1,054,295
Totalincome		2,189,096	15,000	2,204,096	2,052,036	72,000	2,124,036
Expenditureon:
Charitable activities	4	2,284,718	17,590	2,302,308	2,061,622	64,508	2,126,130
Other	8	6,928		6,928	7,161		7,161
Totalexpenditure		2,291,646	17,590	2,309,236	2,068,783	64,508	2,133,291
Grosstransfersbetween
funds					17,514	(17,514)
Netexpenditure for the Netmovementinfunds	year/	(102,550)	(2,590)(105,140)		767	(1O,O22)(9,255)
Fundbalances at 31 July	2021	(160,082)	19,164	(140,918)	(160,84e)	29,186	(131,663)
Fundbalancesat30July 2022		(262,632) 16,574		(246,058)(160,082) 19J64			(140,918)
		::::::

		2022		2021
	Notes	s	E		€
Fixedassets
Tangible assets	9		8,844		3,806
Current assets
Debtors	10	80,404		245,323
Cashaibankandin hand		81,226		6,165
		161,630		251,488
Creditors: amountsfallingduewithin
one year	12	(388,03e)		(357,787)
Net current liabilities			(226,4O9)		(106,299)
Totalassets less currentliabilities			(217,565)		(102,493)
Creditors: amountsfallingdueafter
morethanone year	13		(28,493)		(38,425)
Netliabilities			(110*)		(140,918)
lncome funds
Restrictedfunds			16,574		19,164
Unrestricted funds			(262,632)		(160,082)
			,1lry'		(140,918) :

		2022		2021
	Notes€€ft
Cashflows from operating activities Cashgeneratedfrom/(absorbedby) operations	19		92,636		(39,930)
lnvesting activities
Purchase of tangiblefixedassets		(7,643)		(5,349)
Netcash used in investing activities			(7,643)		(5,34e)
Financing activities
Repaymentofbank loans		(9,932)		(1,888)
Netcash used in financing activities			(e,e32)		(1,888)
Netincrease/(decrease) incash andcash
equivalents			75,061		(47,167)
Cashandcashequivalentsatbeginning ofyear			6,165		53,332
Cash andcash equivalentsat end ofyear			81.226		6,165

haritable activities
	2022 2021
	f I
Music tuition Examfees Otherincome	1,194,276985,060 38,32628,652 130,84240,583
	1,363,4441,054,295
Analysisbyfund
Unrestrictedfunds	1,363,4441,054,295
Restricted funds

Charitable activities
	UnrestrictedRestricted Fund Fund		TotalUnrestricted 2022 Fund		Restricted Fund		Total 2021
	2022	2022		2021	2021
	ff		€tf
Staff costs	1,439,437	15,9401,455,377		1,276,943	27,883	1,304,826
Depreciationand
impairment	2,605	-	2,605	1,543	-		1,543
Otheroperatingleases	71,071	-	71,071	48,715	-		48,715
Licensing andsubscriptions	6,401	-	6,401	4,O20	-		4,020
Examfeescosts Events and tours	23,538 108,254	- 1,650	23,538 109,904	22.529 83,751	- 36,625		22,529 120,376
Equipment expensed	(100)	_	(100)	100	-		100
lnstrumentsrepair	8,663	-	8,663	3,128	-		3,128
Storage	7,201	-	7,201	7,659	-		7,659
DBS checks Sundry expenses	2,428 442	- -	2,428 442	1,782 43	- -43		1,782
Trainingandmeeting costs	3,331	-	3,331	1,234	-		1,234
Staffwelfare	1,267	-	1,267	1,898	-		1,898
	1,674,53817,5901,692,128			1,453,345	64,508	1,517,853
Share of supportcosts(see note5)	597,207		597,207598,752				598,752
Share ofgovernancecosts (see note5)	12,973		12,973 9,525				9,525
	2,284,718 :	17,5902,302,308		2,061,622	64,508	2,126,130 :
Analysisbyfund
Unrestrictedfunds Restrictedfunds	2,284,718	-2,284,718 17,59017,590		2,061,622	64,508	2,061,622 64,508
	2,284,718	17,5902,302,308		2,061,622	64,508 :	2,126,130

Support costs
		SupportGovernance costs costs €€		t	SupportGovernance COSTS COSTS st		2021 s
Staff costs		462,065		462,065	502,413	-	502,413
Rates andwater		4,065		4,065	4,685	-	4,685
lnsurance		9,482		9,482	8,523	-	8,523
Lightandheat		9,187		9,187	6,307	-	6,307
Telephone		4,559		4,559	4,860	-	4,860
Postageandstationery		11,639		1'1,639	1,229	-	1,229
Motor expenses		41,401		41,401	19,261	-	19,261
Premise expenses		9,063		9,063	4,901	-	4,901
Bank charges		2,094		2,094	3,089	-	3,089
Bankloaninterest		1,170		1,170	313	-	313
lT software		42,482		42,482	28,768	-	28,768
Auditfees			8,760	8,760		5,700	5,700
Accountancy andlegal
fees			4,213	4,213		3,825	3,825
		597,207	12,973	610,180	579,641	12,600	608,277
Analysedbetween Charitableactivities		597,207	12,973	610,180	579,641	'12,600	608,277
	:

	Employees			(Continued)
	Thenumber of employeeswhoseannual remunerationwasmore thanf60,000
	is as fofiows:
			2022	2021
			Number	Number
	t90,001tof100,000		1	1
	Other
			Unrestricted	Unrestricted
			funds	funds
			2022	2021
	Other interest		6,928	2,104
	Bad anddoubtfuldebts		:	-lY
	Tangiblefixed assets
		Music	Motor vehicles	Total
		instruments
		t	f	t
	Cost
	At 31July 2021	1,799	3,550	5,349
	Additions	7,643		7,643
	Al30July 2022	9.442	3,550	12,992
	Depreciation and impairment
	At31 July2021	360	1,183	1,543
	Depreciationchargedin theyear	1,816	789	2,605
	At30July 2022	2,176	1,972	4,148
	Carrying amount
	At3OJuly2022	7,266 :	1,578	8,844 :
	At30 July2021	1,439	-,',*	3,806 :
10	Debtors
			2022	2021
	Amountsfallingduewithinone year:		f	c
	Trade debtors		64,862	49,156
	Other debtors		6,000
	Prepayments andaccruedincome		9,542	196,'167
			80,404	245,323
			:	:

11	Loansandoverdrafts
			2022t	2021 e
	Bank loans		,t,o,.	:,*:
	Payablewithinoneyear		10,000	10,000
	Payable after oneyear		28,493	38,425
12	Creditors: amountsfallingduewithinone year
			2022	2021
		Notes	f	t
	Bank loans	11	10,000	10,000
	Othertaxationandsocialsecurity		217,O88	166,980
	Deferred income	't4		28,320
	Trade creditors		51,878	23,798
	Pensionpayable		99,005	118,749
	Accrualsanddeferredincome		10,068	9,940
			388,039	357,787
13	Creditors: amountsfallingdueaftermorethanoneyear
			2022	2021
		Notes	f	f
	Bank loans	11	28,493	38,425
			:	:
14	Deferredincome
			2022	2021
			s	€
	Otherdeferredincome			28,320
				:
	Deferred income is includedinthefinancialstatements as follows:
			2022	2021
			t	f
	Deferredincome is included within:
	Current liabilities			28,320
			:	:
	Movementsintheyear:

Deferredincome		(Continued)
Deferred incomeat31July2021	28.320
Recognisedintheyear		28.320
Releasedfromprevious periods	(28,32O)
Deferredincome at3OJuly2022		28,320

	Unrestricted	Restricted	TotalUnrestrictedRestricted	TotalUnrestrictedRestricted	TotalUnrestrictedRestricted	Total
	funds	funds		funds	funds
	2022	2022	2022	2021	2021	2021
	E	€	€€f			€
Fund balances at 30
July 2022 are
representedby:
Tangible assets	9,330		9,330	3,806		3,806
Current assets/(liabi lities)	(242,983)	16,574	(226,409)	(125,463)	19,164	(106,299)
Longtermliabilities	(28,493)		(28,493)	(38,425)		(38,425)
	(262,146)	16,574	(245,572)	(160,082)19,164		(140,918)
		:	:::

	2022	2021
	f	f
Withinoneyear	t:,'*	t:f:

Related partytransactions	Related partytransactions	Related partytransactions
The following Trusteesentered intorelatedpartytransactionswithBMT duringtheperiod/year:
	30"7.22 t	30.7.21 t
D Mansfield	300	840
JAtkins	------:- 300	1,080 1.920

Cash generatedfrom operations		2022 f	2021 f
Deficit for theyear		(104,654)	(e,255)
Adjustmentsfor:
Depreciationandimpairment of tangiblefixedassets		?,727	1,543
Movementsinworkingcapital:
Decrease/(increase) in debtors		164,919	(172,624)
lncreasein creditors		58,572	112,086
(Decrease)/increasein deferred income		(28,32O)	28,320
Cash generatedfrom/(absorbedby)operations		93,244	il'')
Analysis of changesinnetfunds/(debt)
	Al31July2021t	Cashflows f	At30July2022t
Cashatbankandin hand	6,165	75,061	81,226
Loansfallingduewithinoneyear	(10,000)		(10,000)
Loansfallingdueaftermorethanoneyear	(38,425)	9,932	(28,4e3)
	(42,260)	84,993	42,733
		:	: