Charlty regIstra￿On number 1177780
Company roglstratlon number 11198293 IEngland and Walgs)
BUCKINGHAMSHIRE MUSIC TRUST
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 29 JULY 2023

BUCKINGHAMSHIRE MUSIC TRUST
LEGAL AND ADMINISTRATIVE INFORMATION
Tru8tè•s
D C Mansfièld
P Downlon
S J Imbriano
Charlty numb•r
1177780
Company number
11198293
Regl3tered office
Aylesbury MtÈslc Centre
Walton Road
Aylesbury
Bucklnghamshi
HP217ST
Independerlt accountants
Amersham Accountancy
3A Station Road
Amersham
HP7 3BQ

BUCKINGHAMSHIRE MUSIC TRUST
CONTENTS
Page
Trustees ￿port
Independent examiner's reporl
statement of financial activ6fjes
&lance sheet
Statement of cash fiows
Notes lo the finaneJal slalernen18
10-21

BUCKINGHAMSHIRE MUSIC TRUST
TRUSTEES REPORT {INCLUDING DIRECTORS. REPORT)
FOR THE PERIOD ENDED 29 JULY2023
The T¥ustees pre8enl Ihelr annual report and financial statements for thé Pertod ended 29 July 2023.
The financFal slalemen15 have been prepared in accordance with the accounting pollcles sel out in note 1 to thè
financial slalements and comply with the BMT'S Igovemirbg documentl. the CompaniesAcl 2006 and'Accounting and
Reporting by Charities.. Slatemonl of Recommenijed Pracllce applicable lo charitie8 prepadng Iheii accounts In
accordance wilh the Financial Reporting Standard applicab16 In the UK and Republic of Iieland {FRS 1021" lefleclive
1 JaEtuary 20191.
Oblgetlv&s And actlvitfjes
Buckinghamshlre Music Trust I'BMT'I is a Music servi￿ that Inspires exciting, meaningful and engaging muslcal
expÉri6ne6s for every child In the county. In the year 22123, BMT continued lo pursue its slalod mission:
Experiences and opportunities that inclL¢de all abilities, talents, genres 8nd forms of music. supporting all the
outstanding work that happens now and Ihat we will build in the futuré.
Experlences and opportunlt168 that take place in all types of School IbDlh in Ihe curriculum and beyondl, in
music centre8, in ￿mMunItY settings and in commercial sellings.
Pmmoting opportunities loi all students to access meaningful and hlgh qu8lily vocal and Instrurnenlal
experiences including opportunltlès to progress to the highe81 levds of excellence.
Promoting and 8UPW)rtin9 the itnportanEe of music in all children'8 lives as ￿methIng valuable. rewaiding and
fun.
ProvSding a wide rangts of performance oppodunities lo both celèbratè th6 achlevements of young muslcialls
and empower them l¢Tr be confident and skllled Individuals who can ¢xpr¢ss thelr creatSvity and work log8lh8r
for success.
Lèadlng a ¥adical development of muslc in schools and olher eduratlonal settlngs, working in partnership wlh
other organlsalion8, induding the Local Authority, lo realise an outstanding edLution for all studen18 In the
county.
Facllltating the Bucks Musi¢ Education Hub as an open, creative and positive network of partner8 who Share
a common vision and drfve wlth Imagination and high èxpeclations
BMT Is the lead organlsatlon foT the Buckinghamshlr• Muslc Education Hub.
Bulldlng network3, partnershlps and relallonshlps with 8nd b81ween muslc organisation8 and indlvlduals of
all types.
Worklng actively to OVErctsme bairier8 that prevonl muslcal opport¢tsnlly, providing solutions lo any f￿M of
exdusion whether through special needs, disability, abilty to pay, gender, geographical loeatlon. cultural
background or lack of Support.
Providing stspport, training ancl nglworking for all music wacli1ione￿ en9aged in activity with young people in
8uckinghamshire and beyond.
Promoting innovation and creallvity in muslc and across arts. culture and heritage.
An advocate for the importance of muslc for all young p80pIe.
The TTUStaes have paid due regard to guidance Issued by the Charity CommIs$l￿ In declding whataclivilies the BMT
should undertake.

BUCKINGHAMSHIRE MUSIC TRUST
TRUSTEES REPORT (INCLUDING DIRECTORS. REPORTI (CONTINUED)
FOR THE PERIOD ENDED 29 JULY 2023
Slgnlficant Partner8hlplHub Actlvltles
Bucks Schools
Delivery of GCSE and A-18vel support In schools where recrulling music teachers Is proving a
challenge and increase In demand for support from secondary schools who have not previously
engaged with BMT.
Primary Music conferern￿ on June 28th al the WalersidÉ Thaatre second space. Well allended
with ex¢ellent fèedback on all session8
Florenc8 Nlghllngale HOsp￿e Charity
New parlnership now in place fo11ts￿ng success of previous events
Two weeks perye8r- (￿6 In HW at Swan and one In Aylesbury al W81erskle
Both will recruit Iwo chlld cas151100 each) and do a matinee and 8venlng show, increaslng
potential fundfaising revenue
BMT County level musiclans give￿ opportunlty lo play in pll band and gain invaluable expèrfance
YCBucksCEP- the Cultural Education PaTtnership
BMT conlinulng to lead on young creatlV8 consultation programme
Sleerlng group progresslng with establishment of CIO entity
Fundralsing in progress with some good successes
Network slren9lheniTrg overall arts landscape
CPD delivery
Dèputy Director dellverlng whole day primary muslc training for MK & N Bucks tralnees and
sessicns for Aslra Teachtng Schools Hub
Dlrector delivering menlorfng and support packages lor trainees In 3 secondary schools In
partnership with Aslia and Unlverslty ol Herts
NMO I InstruTnenlal
Relaunch of comblned programme of school Goncerts and follow-up instrumental vlslts leadlng to
uptske to lèssons in previously unengaged schools
School vislts and slreamed 'Meet Thè Orchestra, during summer term
All thesè successes are within a continued perfod of recovery whèr& financlal constraints were still 8vid8nt from
managing the company through the pandemic and whilst setvice levels have returned to levels eq(Eivalent to before
th81, the overall financial r8covery has still been in progress, The recovery plans outlined in the previous report have
all been effectivèly Implemented and a￿ beginning lo make a difference. However, the additlDnal accounling impact
of the change of funding cycle by Arts Council England, the resulting, necessary change of Involcing cycle by BMT to
manage rashfloweffectivelyand the longertemi impact of repayment Schemes and how they fall within the accounling
yeaf lead to the posltlon of the8e acLounls showlng a deficit of £526k.
BMT Continues lo mallage ils trading and Income and eXp¢ndilU￿ effectively across Ihe year, wè aré stlll wilhin the
period of recouping liabilltles, and Ihls is well-rnanagod whilsl preventing the accrual of slgnificanl reseNe. All oui
Il£*bllllles have been consolidated Into ￿0-year repayment programmes that have been achieved durlng 22123 and
wlll continue lo work through during 23124. The PAYE118bilily will be repaid by October 2024, LGPS by Juty 2025 and
TPS by September 2026. All these r8paym6nt plans are fully approvèd and in train. The projected defioil in (he
accounts tck date therefore show these liabilities reduang and are funded in year by the following rnea8Utes pul In
placè during 23124 and ale proving effecb"ve.
Some significant payments in this accounting year are not repeated in following yèars. such as the additional
post-pandemic touring costs of £38k.
Stèady In¢fease in prices slightly abov8 th6 rate of inflation that were not able to be Implemented
previously a￿ now in p18ce on an annual basis.
Conlinued increased dèmand for IV lessons and school ordèrs increasing margln on Income.
Increased nurnbei of BMT membef schools.
Increase in Music Cenlre memberships wilhoul Increased staff costs.
Increased dem&nd from schools for consullanry and tralning.
Increase in sponsorship and donations already secured.
The exl¢mal fundlng of one Senior post S8conded lo Cultural Education Partnershlp.

BUCKINGHAMSHIRE MUSIC TRUST
TRUSTEES REPORT (INCLUDING DIRECTORS. REPORTI (CONTINUED)
FOR THE PERIOD ENDED 29 JULY2023
These elements reprÈsÉnl an additional level of income Compared lo 22123 wth no addluonal costs in the
reglon of £260k.
The new Muslc Hub structure ar¢d successful bid by BMT to bè thè Hub Lead for a wlder aroa will bring ali
addition31 revenue ¢bf approximalety £45k in the yèar 24125 and beyond.
A Senlor Leadershlp re-8lruotuio has be￿ Implemented lo reduce Ihe costs by a furfher £38k per annum.
Afull revlèw of penslons and the Incroased gmployei conliibulions to examine other possible options is In
train to remove the ongoing high level of IlabS1ity of the current arrangements.
Additional short-lerm funding for Incrèased penslon costs of approximately £96k has been Secured from DfE
that will ensure that this liability does not increase during 24125.
The evidence at the tim@ ol willing this report is thal all these fa¢lors are accurate and support Ihe buslness plan for
Ihe next iwo years with the 8blllty to recover the existing Ilabililies without incuriing further obligalions. On Ihls basls
Ihe Trustees have a réasonable Èxpeclalion that the BMT has adequate ongolng resources lo continue In operallonal
existénee frirthe foreseeable luluro whilst nrellng all Its repAyments and so continue lo proceed with these acLEkunts
on the basis of a golng concern.
Achlevement8 and perforrnanc
Signifjtt8nt Aefvvilies and ac￿9￿￿8n1S 8g8insl ob]8ctives
Fundraising praclic8S
This has been a highly succe88fv1 yoar lor BMT as rebulldlng activity and Part￿[patIon followlng the impacts of the
CcTrvld-19 pandernic and its effeGI on activity levels bul has ¢onlinued to take tlme to recovertrom some of the fjnanaal
impact of this period. Thinos are very much mving in Ihe rightdir6clion. buttaking lime to do 60. wilhoul implementing
the type of piice rises that would go againsl our charitable mission of inclusion and equity of opportunity.
From Summer term 2022 to summer term 2023 the follo￿ng IncrÈasÈs in aclivlly were mglslered,.
InstruThE￿taI & vocal leaching increasèd by 18%
Muslc Centre membershlp increased by 22V.
County Groups memborship increased by 19010
Sch(K)I mgtnbership increased by 22%
Delivery of Who18 Class Praciical Musicianship (WCPMI increased by 16¥0
Ve also saw an Increase in all areas of the number Df performance opportunllles foryoung muslelans, both local and
counly-wide and across all genres.
Thè yèar saw a lull range of18rge events includlng..
The Ballle of the Bands Iinal at the Swan Old Town Hall In March ￿th a record numb8r of applicalions and
audi￿0￿8,
Our RAH Celebration Concert on Tuesday March 2023 was a huge 3ucce$s. Th¢ focus was tsn excellence
and diversity and so the music, oornposeis and Conductors We￿ selected ensuring to iepre5entthe broadest
possible range of musÉc, bul with the hlghesl Quality of aTrangemenl and performan￿ at every ability 18V61.
We inviled 2022 leavèrs to sharè the opportunity lo partioipate should they wish to. We were also be joined
by KS3 cholis Ilorn 17 secDnd(iry schools laboul 400 singersl and young musicians fiorn the SIou9h Youth
Orchestra. Awnersham Beginner Band and Mill End Voices as active partnets.
Th$ Bucks Young Musictan of the Year final took place at Aylesbury Music Centre1n late March and wa8
Ilvestreamed as well. Agaln we had a record enlry and the evantual wnner was Emma Harrington. a young
soprano who wlll be studying 81 Royal Academy ol Music next year.
All the County groLFPS C(outh Orchestra, Wind Ensemble, Jazz ColleCt￿e and Youlh Choirl, cornprislng 92
outstanding young mus￿lans, undertook a tour lo Genl in Belgium, with the highlight being a full afternoon
of music on a large stage In the cathedral squaiè £n Genl on the final Saturday afternoon of Ihe GentFesl
with audiences of about 100D and wide acclaim,

BUCKINGHAMSHIRE MUSIC TRUST
TRUSTEES REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED)
FOR THE PERIOD SNDED 29 JUL Y 2023
Fsnanclal revlew
Res&Kvss poliGy
It Is Ihe policy of thg BMT that unreslridéd funds whlch have not been deslgnaled for 3 specifi¢ u$& should be
maintained al 8 level equlvalenl to two month'5 expendllure. The Tiustees consider that Te8erve5 at thls level wll
ensure that. in th8 event ol a significanl diop in fvndlng, they will be able to continue the BMTS cu￿ent aetlvities while
consideration is glven lo ways In which addltlonal funds may be ra180d. Th￿$ level ol reserves has yet to be reached
bul rneasures are In place lo work tewards this position across the next Iwo years..
structure, governance and manag&mènl
The BMT is a company Ilmlted by guarant08 and a nol-for-profil Charity.
The Trustees, who arè also the direclois for the purpose of company law. and who s&rvgd during the Period and up
to the date of sIgn81u￿ of Ihe financial 8tat6ments were..
D C Mansfield
L Presencer
JMAtki
P Downton
S J Imbriano
IResigned 31 ma￿ 20231
IRe8igned 27 Maich 20231
Recwitmènt 8nd &ppoinlmenl of Itusfeas
In acco¥dan¢e wlth our articles, roGlUitment to the board of tmstaes was approved by the exlstlng board wllh 8 vlew
to expanding th6 r8nge of skdls acioss the board to ensure strategic guidance and effectlve $￿Ul1nY of tho aolivlties
of the cornpany.
None of the Trustees has ally benefiEi¢il inleresl in the company. All of the T¥u51ee5 are members of the ¢ompany and
guarantee to conlrlbule £1 in the event of 3 wlndlng UP.
The wmpany's CUTrent pollcy ooncerning the payrtLEnt of trade creditors is to follow Ihe CBI'S Prompt Payers Codo
(copies are availab16 from the CBI, Centre Polnt, 103 New Oxford Slreel, London WC1A I DUI.
The companys currenl policy concemlng the payment of trade uedilor5 18 10-
sellle the temis of paymonl with suppllers when agr8elng the terms of each transacilon..
ensure that supplieis aTe made aware of th8 t￿mS of payment by incluslon of the relevant tsmis In contracts.. and
pay In accordance with the company's conlr8ctsEal and olhei legal obllgations.
During thls year of Iradlng BMT employ8d 8 senlor leadership team of 7 and central 8dmlnistration team of 6 and a
leachlng staff ofapproxlmaldy 85 wth a FTE of approximately 42.5.
The Trustees report w&s approved by the Board ofTrustees.
D C Mansfield
Dale.. .
2<

BUCKINGHAMSHIRE MUSIC TRUST
INDEPENDENT EXAMINER'S REPORT
TO THE TRUSTEES OF BUCKINGHAMSHIRE PdlUSIC TRUST
Thls fomis the report lo the Trustees on examination of the financial Sialements of Bueklnghamshlre Music TTUSI (the
BMTI for Ihe Period ended 29 July 2023.
Re8ponslbllltie¥ and basls of roport
As the Trustees of the BMT land also ils directors for the purposes of company lawl you are responsible for the
preparatlon of the financial 8talemenls in accoidance with the requirements of the Cotnpanles Act 2006 Ilhe 2006
Acll.
Having been satisfied that thè f5naneial statements of the BMT are not required to be audlted under Part 18 of the
2006A¢l and are eligible for independent Examlnation, this report in respecl ol the exafflinalion of the BMT'S finandal
slalemonls has bBen cairied out under section 145 01 Ihe Charitses Act 2011 Ilhe 2011 Acll. In carrylng out the
ex8mlnatlon. all the applicable Directions gNen by the Charity Commi8slon under s¢¢tion 14515llbl of the 2011 Act
hav& b&en rlgorously followed.
Independent examlnor's statement
Slnce Ihg BMT's gIOS5 income excepded £250,0(Kl your exarnineT musl be a member of a body lisf8d In s6ctlon 145
of the 2011 Act and it is confiimed that these conditions have been satisfied
Upon completion of the examination. 1118 confiirned that no matters have come to attentlon In connèclion with the
examination givSng cause to bolieve that in any material respect=
accounlÉng iècocds were not kept in respect of Ihe BMT as required by section 386 of th8 2008 Act., or
the financial 8latem8nts do not aeeord with those records". or
the finanaal statements do nol ￿mplY WElh the 8CCOkJntlng requlr6mènls of sectitsn 396 of the 2006 Acl other
than any requirement that the accounts give a Iwe alld fair view which is not a matler consldeied as part of an
independenl examlnalion., or
the ftnancial statements have not been prepared in accordancewith the molhods and principles of Ihe Statement
of Recommended Practice lor accounting and reporting by charitie5 appllcable to charlties preparing their
accounts in accordance wilh the Financial Reporting Standard appllcable in the UK and Republicof Ireland IFRS
1021.
There are no concerns that have been come across, nts other matlers in connection w7lh the examination lo whl¢h
attention should be drawn in Ihls report In ordèr to enable a proper understallding of the finan￿81 s181emenls lo be
reached.
Daled..

BUCKINGHAMSHIRE MUSIC TRUST
STATEMENT OF FINANCIAL ACTIVITIES
INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE PERIOD ENDED 29 JUL Y 2023
Unrestrlcted Restrlcted
funds
fundB
2023
2023
Total Unrèstrlet&d Restrlcted
fund¥
funds
2022
2022
Totsl
2023
2022
Note8
Income from..
Donallons and legacles
Charitsble 8¢llvities
744.005
1,396,020
37.796
781,801
1,396,020
825.652
1,363.444
15,000
84O,6S2
1.363,444
Total Incom
2,140.025
37.796 2,177,821
2.189,096
15,000 2.204,OL
Expenditurè on:
Charltable activities
other expetKliture
2.401.759
6,539
49,077 2.450.836
6,539
2,284,718
6.928
17.5QO 2,302,308
6.928
Total •xp6ndlture
2,408,298
49,077 2,457,375
2.291.846
17,590 2,309.236
Net expgndlture and
rnovement In funds
1268,273)
111,2811 1279,5541
1102.5501
12.5901 (105,140)
Reconclllatlpn of fundts:
Fund balances al 31 Juty 2022
1262,632
16,574
1246.0581
1160,0821
19,164
1140,9181
Fund balances at 29 Juty
2023
1530,9051
5,293
1525,812)
1262.6321
16,574
1246,0581
Thè Statement of financial aclivities Includes all gain8 and losses recognlsed in the P8rlod. All Income and expenditure
¢rive from continuing actlvltles.

BUCKINGHAMSHIRE MUSIC TRUST
BALANCE SHEET
AS AT29 JULY2023
2023
2022
Nots8
Fixed as8etS
Tangible assets
11
7.906
8.844
Current assets
Debtors
Cash al bank and in hand
12
187.208
80,404
81.226
167.206
161,630
Cr•dltors: amounts falllng due withln
one year
14
1682.340)
1388.0391
Net current Ilabilltlo$
1515,1341
1228,4091
Total a88et8 less current Ilabllltles
1507,2281
1217,5651
Creditors-. amounts falllng due after
more than one year
IS
118,384}
128,4931
Net as8818 trxeludlng pension Ilablllty
1525.6121
(246,0581
Net Ilabilltle$
(525,6121
1246,0581
The funds of the BMT
Rèstricted income lunds
Unreslrict8d funds
18
5,293
1530,9051
18.574
1262,6321
1525.6121
1246,0581
The metnbers have not deposited nottce. pursuanl to Section 478 of the Companies Act 20(￿ requiring an audh ol
Ih8se financial ststements.
The trustees acknowledge their IEsponslbllilies for
8} ensuring that thè charitable company keeps accountiftg records that compty with Sections 386 and 387 of the
Companies Act 2006 and
bl preparing financial statements which glve a true and fair view of Ihg stale of affaifs of the charitable company as at
tho end of each flnancial year and of Ils surplu8 or def4ciI foi each financial year in aeeA>rdanee with the requlrements
ol Sgdions 394 and 395 and which othe￿iSe comply with the requirements of thts Gompanies Act 20[￿ relating lo
financÈal statements, so lar as appllcable lo the charitable catnpany.
The member8 havo not tequlred the Company to obtaln an audit of Its financial statemenls lor the Period in question
in accordance wlh sectlon 476.

BUCKINGHAMSHIRE MUSIC TRUST
BALANCE SHEET (CONTINUED)
AS AT29 JULY2025
These financlal slalements have be8n pTepar6d In accoidance wlth the provislons applicable to companies subleclto
the small companies reglme.
The financlal statèments were approved by the Trustees on
D C Mansfi8ld
Company registration number 11198293 (England and Wales)

BUCKINGHAMSHIRE MUSIC TRUST
STATEMENT OF CASH FLOWS
FOR THE PERIOD ENDED 29 JULY 2023
2023
2022
Notas
Cash flows from operating activltlo$
Cash (absorbed byygenerated from
operations
24
175.8611
92,636
Investlng actlvlt188
PurGhase of tangible fixed assets
11,4231
{7.e431
Net cush used In Investlng actlvltleB
11.4231
17.6431
Flnancing actlvltle8
Repayment of bank loans
(10,1091
19.9321
Net cash used In financlnu activitles
110,1091
19.9321
Net Id•er8asèlllncrease In cash and cash
equlvalènts
187.3921
75,061
Cash and cash equNalents al beginning of Period
81.226
6,165
Cash and cash equlvalgnts at end of Perlod
18,1671
81,226
Relallng lo:
Cash at bank and in hand
Bank overdrafts in¢lyded in credllors payable
within one year
81,228
16.1671

BUCKINGHAMSHIRE MUSIC TRUST
NOTES TO THE FINANCIAL STATEMEl+lTS
FOR THE PERIOD ENDED 29 JULY 2023
Aecountlng pollcles
Charity informatlon
Buckinghamshiie Music Twsl Is a private cotnpany litnited by guaranlee lrtcorporated In England and Wales.
The regislered offke Is Aylesbury Muslc Centre, Walton Road, Aylesbury, Buckingharnshire, HP2178T.
1.1 Accountlng conventlon
The financlal statements hav6 been p￿pared in accordance with the Companies Act 2006, FRS 102 °The
Flnancial R8porting Slandaid applicable in the UK and RepubliL of IrelÉind" I'FRS 102) and the Charities SORP
"Accounting and Reporting by Charitie5'. Statement of Recommended Practice applicable to charities preparing
Ihelr accounts In accordan￿ wllh the Financial Reporting Stsndard applicable in the UK and R8publlc of Ireland
IFRS 1021" leffecbve 1 January 20191. The BMT is a Public Benefit Entity as defjned by FRS 102.
The financial stalemenls are prepared tn steillng, which Is Ih6tun¢tional ¢urroncy of the 8MT. Monetary amounts
in these finanrAal slalemenls are ioundod lo the nearest £.
The financial slalements have been prepared under the historlcal cost conventlon. modified to include certain
fjn8nclal instruments at fair value. The principal accounting policies adopted are set out below.
1.2 Golng concern
Al the lime of approving Ihe fln8nd81 statements, the Trustees have a reasonable expecialion thal the BMT has
adequate resource5 to conunue In operalional exlstence lorthe foreseeable futurp. Thus, the Trustees continue
lo adopt the golng coneem basis of accounting in preparing the financial sl8ternenl8.
This has been another ChaI￿nging year as BMT 18cov8rs from th8 Impact of Covid-19 pand6mlc and the bffecl
ihal had on both activity leve18 and èbillty to trade effectlvely. Although BMT has a negative Balan￿ Sheet,
£526k of this 18 on a iepaymèftt plan and cashflows have been reviewed lo ensu￿ thls can be mel. BMT has
been exligmely Suc￿5sful in term5 of recovering ils previous aclivily levels and this has now been combined
with Ihe abllity to restructure buslness plans and increase fees in most arèa, which was impossiblè at the start
of the 22123 year due to the end effects of the Covid-19 pandemic. Therefore al the titne of approvin9 the
financial stalemenls, the Trustees have a reasonable expectalion (hat the BMT ha5 adequate resources to
continue in operational oxislence foi the foreseeable fuluie whllst meèting all Ils repayment obllgatlons. Thus,
Ihe Iruslees continue lo adopt thè golng concern basis in preparing the financial slalemenls. See lull trustees
report for further details.
1.3 Charltable funds
Unrestrictèd funds ale available for use at the discretion ol the Trustee8 in fvrtherance gf their thaiilable
obiecllves.
Restr￿ted funds are Subject 10 5peelflc condltlons by 1Sonors or grantors as to how they may be used. The
PUIPOS85 and uses of Ihe restrtcted funds are sel out in the notes lo the linanclal slalotn8nts,
1.4 IE)come
All Income is recognised in the Slatemenl of Finanelal A¢tivllies once the Charity has entitlemenl to the funds,
It is probable that the incorne will be received and the atnount can be measured reliably. The following specific
policie¥ are applied to parlkular categorles of Income..
Donatlons- recognised al point of nolificalio
Gi£nts- recognlsed al point of received or r8C8ivabl
Traded income- recognised al point of invoice
10-

BUCKINGHAMSHIRE MUSIC TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 29 JULY 2023
Accountlng pollcle8
IContlnu&rll
1.S Expendhtuye
Expendilure is recognlsed once there is a legal orr￿n$trUctivè obligation to transfèr economlc benefit lo a Ihird
party, il is probable that a transfer of e¢onomie benefits wlll be reqUI￿d In settlemenl. and Ihe amount of the
obligation can be measured reliably.
Expendlturè Is accounted for on an accruals basis and is ctassified by acllvlty. The costs of each activity are
made ¢AP of the total of direct costs and shared costs, including support costs invofved ID undertaklng each
activity. Dlrect costs attributable to a single activily are allo¢aled dir8clly lo Ihal aclwlty. Sharod costs whlch
contribute lo more than one activity and support costs whieh ara not attrlbutabl& to a single activity are
apportioned behyeen those activities on a basis oonsisleTrt with the use of iesources. Central staff costs are
albcaled on the basis of lime spent, and depreCIa￿On charges are allocated on Ihe portion ol the asset's use.
1.6 Tanglble flxed a55ets
Tangible fixed asse18 a￿ inillally measured al cost and subsequently measured al cost or valuation, nel ol
depTv¢ialion and any impairment Eosses.
Depreciation is recognised so as lo wdtè ofl thè cost or valu8tlon of assets less their residual values over iheir
useful live8 on the follownu b¥se$'.
Music inslr(¢rnenls
Motor vehleles
20% on reducing balance
33.33°/o on reducing balanco
Tho g8in or1955 arising on the disposal of an asset is delermined as the diffeience belween thÈ sale proc88ds
and the cairylng value ol the asset, and is recognised in the 8tatemenl ol fin3ndal o¢tivAi¢s,
1.7 Impalrment of fixed aBSèts
Al each reportlng end dale, the BMT reviews th8 carylng amounts of Its tanglble assets to determine whelhei
there is any indication that those 88S8t8 havo suff6rad an Impalmient knss. If any such indication exisis, the
recoveiable amount of (he asset is estimated order to determlne the extent ol Ihe impairment loss lif any}.
1.8 Cash and cash equlvalents
Cash and cash equlvalents include cash In hand, deposits held al call with banks, other 8hort-18rm liquid
invoslments with orEginal tTraluritles of th¥ee months or less. and bank oveidrafts. Bank overdr8ft8 arè shov4n
wilhln bofiowlngs In currenl liabilitie8,
1.9 Fltlanclal Instruments
The BfvIT has elected to appty the provisions of Sedion 11 'Basi¢ Financial Inslrumenls, and Sedion 12 '01hei
Fin8n¢ial Instrumenls Issues, of FRS 102 to all ol ils financial insliuments.
Flnancial instruments are recognised In the Bmfs balan¢e sheel when the BMT becomes party lo the
contractual wovision8 of the inslrurnenl.
Financial asse15 and Ilablliles are offset, with the nel amounts presented in the financial slatemenls, whon there
is a legally enforceable right lo Set off tho fe¢ognlsed amounts and there is an Intentlon to sellle on a net basis
or to realise the assel and sellle the liabilty simullaneousty.
8aslc flnanclal assets
Baslc Iinand81 assets, which include deblor8 and cash and bank balan¢e8, are Initially measured at transacllon
price Ineludlng tr8nsaetlon cosls and are subsequenlty carried al amortisgd w5t using the effective tnlere51
method unless the arrangement wnslilules a finan￿rng Iransaclion, where Ihe transactlon Is measured at (he
p￿sent value of the future rec8ipls discotsnled al a mark8t 1818 of intorest. Financsal assets classlfied as
recewable within on8 year are not amortised.

BUCKINGHAMSHIRE MUSIC TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 29 JULY 2023
Accountlng pollcles
Icontlnuedl
asic financlal Ilabllltle$
Basle finanaal liabilities, including creditors and bank loans are initially ¥ecognised al transaetlon price unless
the arrangement conslilutes a financi(tg transaction, where the debt instrument is measured at the present value
of the fulure payments discounted at a markel rate ol interest. Financial liabilities Glassifieil as payable wilhin
one year are not amortlS6d.
Dobl Inslrumenls a￿ subsequently carried 81 amortlsed cost, using the effeclive intere81 iale method.
Trade creditors are obligations lo pay for goods or seNices that have been acquired In the ordinary course ol
operations from supplie18. Amoun15 payab￿ are classified as current liabilÈlies if payment is due within one year
or less. If not, they are presented as non-currenl liabilities. Tradg credil01s are recognised Inillally allransaclion
pr1￿ and subsequently me8surèd at amortised cost using the effective inleiesl tnelh(yJ.
Dorecognition of flnanelol Ilabllltles
Flnanelal liabilities are derecognlsod when the BMT'S contractual obligations èxplrè or are dlscharged or
cancelled.
1.10 Employee benèfits
The cosl of any ¢Jnused holiday enlillÈmènl Is recognised in the period in which the Employee's ser￿ceS are
received.
Termination benefits ale recognised (mmediately as an expènsè when the BMT is demonstrably commilted lo
terminate the 8mploymènt of an employee OT to PTovid¢ lerfflination benefils.
1.11 Rettrem•nt b&nellts
Paymen18 lo Ilefinod contfibut(on retlremenl ben9fil schern8s ar8 tharged as an expen8e as they fall due.
Donallon¥ arEd legacies
Unre8trf¢tod Restrlcted
funds
funds
Total Unrestricted Rgstrleted
funds
fund
Total
2023
2023
2023
2022
2022
2022
Grants
744,005
37.796
781,801
825,852
15,0(K)
840,652
Grants recelvable for
core actlvlties
Other
744,005
37,796
781.801
AA825,652
15.0
840,652
744,005
37,79S
781,801
825.652
15.000
840,652
12

BUCKINGHAMSHIRE MUSIC TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 29 JULY2023
Donatlons and l&gaeles
Icontinuedl
The ACE funding to BMT Is to support our role as the core organlsailon of the Bucks Musfic Education Hub
and lo support thé reallsallon of the core and exlett5bn roles within the National Plan for Mlls￿. As this
de8criptlon encompasses virtually all of BMTS 8cllvities, including the devglopmenl of partnership work,
therefore il Is treated as an unrestricted grant that supports the mission and aims of the organisalion. A
ignificant amunt of this grant is used to support specific ￿tIvItieS in thè core roles, such as Wholo Class
Pr2ctfjcal Musicianship deliveT¢d al a highly subsldised rale lo Èchools.
Income from charltable actlvltles
Unrestrlcted
funds
2023
Unrèstrictèd
funds
2022
Muslc tultlon
Exam fees
Other income
1.148,197
38.132
211,691
1.194,276
38,326
130,842
1.39S.020
1,363,444
13

BUCKINGHAMSHIRE MUSIC TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 29 JULY 2023
Exp&ndlture on charllable actlvltles
Unrestrlcted Restricted
Fund
Fund
2023
2023
Total
Headlng
#a¢982
2022
Headlng
#ac983
2022
Total
2Q23
2022
Dirèet costs
$18ff costs
Depreciation 8nd
Impairment
Other operatlng leases
Licensing and
subscrlplions
Exam fees costs
Events and tours
Equlpmenl expÉnsed
In8lruTnents repa1¥
storage
DBS checks
Sundry expènsas
Trainillg and meetsng
costs
Staff WElfare
1,510.413
34,677
1,545,090
1,439,437
15,940 1.455.377
2,381
74,657
2,361
74,657
2.805
71.071
2,605
71.071
3,845
22,035
122,505
3,845
22,035
128,905
6.401
23,538
108,254
11001
8,663
7,201
2,428
442
6,401
23.538
109.904
iiooi
8.663
7,201
2,428
442
6,400
1,650
8,680
6,825
2.102
2.191
8,680
6.825
2,102
2,191
5,227
3,126
5.227
3,126
3,331
1,267
3,331
f,267
1.763.967
41,077 1,805,044
1,674,538
17,590 1,692,126
Share of support and governance costs (see note 5
Support
629.173
8,0(K)
Governance
8,619
637.173
8,61g
597,207
12,973
597,207
12,973
2,401,759
49.077 2,450,836
2.284,718
17,590 2,302,308
Analysls by fund
Unrestricted funds
Re81lloted funds
2,401,759
2,401,759
49,077
2,284,718
2,284,718
17.590
49,077
17,590
2,401,759
49,077 2.45D.836
2.284,718
17,590 2,302,308
14-

BUCKINGHAMSHIRE MUSIC TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 29 JULY2023
Support costs
Support Governance
costs
costs
2023
Support Gov*rnanc6
costs
2022
Staff costs
Rates and water
Insurance
Light and heat
Telephonè
Postage and stationery
Motor expense5
Premise expenses
Bank charges
Bank loan interest
IT 8tsftware
484,849
4.138
12,046
8,556
4.716
8,996
46,216
9,665
2,155
736
49,101
484.849
4,138
12,046
8,556
4,71 S
6.996
46,216
9,fj65
2,155
736
49,101
3,810
462.065
4,065
9,482
9,187
4,559
11,639
41,401
9,063
3.089
313
28.768
462,(￿5
4,(￿5
9,482
9,187
4,559
11,639
41,401
3,089
313
28,768
8,780
Audit fees
Accountancy and legal
fre8
3,810
8,760
4,809
4,809
4,213
4,213
629.174
8,619
837,793
579.641
12,600
610,180
Analysed between
Charitable aclivilies
637.173
8,619
645,792
579,641
12.600
610.180
Governance costs Includas payments to the audllors of £3,81012022- £8,760) for au¢JK fees.
Net movement In funds
2023
2022
The nel movèmènt In funds is slated after ¢harglnallcredillng)'.
fee5 payable lo the Auditors
Depreoalion of owned tangible fixed assets
3,810
2,381
8,780
2,605
Trusts98
None of the Trustees lor any persons connected with them) r8C61ved any remune¥atson or beneflls from the
BMT during the Period.
Employogs
The average monthly number ofemployees during the P8riod was..
2023
Number
2022
Number
Stsff
101
93
15

BUCKINGHAMSHIRE MUSIC TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 29 JUL Y 2023
Employegs
IConllnu8dl
Employmant costs
2023
2022
Wagos and salaries
Soclal security costs
Other penslon costs
1,582,241
120,419
327,279
1,497.031
116,659
303,752
2,029,939
1,917,442
The number of employees whose annual remuneration was more Ihan £60,000
Is as folknws..
2023
Numbor
2022
Number
£90,LlOi to £100,000
Other
Unre$trlet•d Unrestrlcted
funds
funds
2023
2022
Other Inte￿$t
Sad and doubllul debts
e.928
6,539
10 Taxatlon
The charity is ex8mpt from taxa(lon on its activities because all ils income Is applled for charitable purposès.
16

BUCKINGHAMSHIRE MUSIC TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 29 JUL Y2023
11 Tang5ble flxed assets
Muslc
Instrumwts
Motor
v•hl¢l85
Total
Cost
At 31 Juty 2022
Additions
9.442
1.423
3.550
12,992
1,423
At 29 July 2023
10.865
3,550
14.415
Depreciatlon and Impalmient
Al 31 July 2022
Depreaatlon charged in the Period
2,17e
1.835
1,972
526
4.148
2.361
At 29 July 2023
4,011
2.498
6.509
Carrylng amount
At 29 July 2023
6.854
1,052
7.9(
At 30 Juty 2022
7.266
1,578
8,844
12 Debtor#
2023
2022
Amounts lalllng due wlthln one year:
Trade debtors
Other deblots
Prepayments and accrued incom
150,331
6,(￿0
10,875
64,862
6,000
9,542
167,206
80,404
13 Loans and overdrafts
2023
2022
Bank overdrafts
Bank loans
6,167
28,384
38,493
34.551
38.493
Payable within one year
Pay8ble after one year
16,167
18.384
1 Cl,000
28,493
17

BUCKINGHAMSHIRE MUSIC TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 29 JULY2023
14 Cr•dltors'. amounts falllng due wtthln ono year
2023
2022
Notes
Bank loans and o¥erdrafts
other taxatlon and social secuTIty
Deferred income
Trade Greditorg
Pension payable
Accruals and deferred income
13
16,167
181,702
62,1B1
58,127
339,352
4.811
10,000
217,088
16
51,876
99,005
10,068
682,340
388,039
15 Credltors= amounts lalllng due after more than one year
2023
2022
Bank loans
13
18,384
28,493
16 Dèfèmd Income
2023
2022
Other deferred incorne
82,181
Dtrlerred in¢ome Is Induded In the financial 8laternenl8 85 follows..
2023
2022
Deferred income is Included within..
C￿rrernI liabilities
82,181
Movetnen15 in Ihe Perlod-.
Deferred income al 31 July 2022
Released from previous period5
Resourcès dèfèrred In the Period
28,320
128.3201
82,181
Deferred Income at 29 July 2023
82,181
17 Retirement beneflt 8chem84
2023
2022
Definèd eontrlbutlon schemes
Charge to profit or IDSS in respecl of defined contrlbutlon schemes
327,279
303,752
18

BUCKINGHAMSHIRE MUSIC TRUST
NOTES TO THE FINANCIAL STATEMENTS {CONTINUEDI
FOR THE PERIOD ENDED 29 JULY 2023
17 Retlrement beneflt schemes
Icontlnuedl
The BMT operates a defined conliibulion pension 8¢heme foF all qualifying employèes. Tha assets of t
scheme aré held sèparatèly from those of tha BMT In an Independently administered fund.
18 Re¥lrl¢tsd fund5
The r6strlcted funds of the char¢ty comprise the unexpended balances ol donations and grants held on tru81
subject to Specif￿ cond¢tions by donors as to how they may be used.
At 31 July
2022
Incomlng
ource¥
Resources
èxpgndgd
At 29 July
2023
18,574
37.796
{49.0771
5,293
Prevlous ygar-
At 31 July
2021
Incomlng
resources
Resources
expended
At 30 July
2022
19.164
15.000
117.5901
18,574
19 Unre¥triGtgd fund
The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are nol
subj'ecl to specific conditions by donors and gianloTS as lo how they may be used. These Includè dèslgnatèd
funds which have been set asidè out of unrèstrlclèd funds by the trL¢Stees lor speclfic purposes.
At 31 July
2022
Incomlng
resoL*rces
Resources
expended
At 29 July
2023
General funds
1262,6321
2,140,025
12.408,2981
1530,9051
Previous year..
At 31 July
2021
Incomlng
re8oiirces
Resource5
expènded
At 30 July
2022
Gener81 funds
1160,0821
2.189.096
12,291,646)
(262.6321
19-

BUCKINGHAMSHIRE IIfiUSIC TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 29 JULY 2023
20 Analysls of net assets between funds
Unrestrlcted Restrlcted
funds
funds
2023
2023
Total Unrestricted R￿trICted
fund¥
fLEndB
2022
2022
Total
2023
2022
Fund balances al 29
July 2023 are
represented by..
Tangible assets
Current 8s501sllliabllillesl
Long lerm liabilities
7,g06
(515.1351
118.3841
8,844
1515,1351 1242,9831
118,3841
128.4931
8,844
1226,4091
{28,4931
16,574
1525.6131
{525,6131 {282,6321
16,574
1246,0581
21 Operallng lease conitnilments
Le88È8
Al the reporting end date the BMT had outstanding commitments for fvlure mlnimt6m leaso payments UJMler
non-¢ancellable operating leases, which fall due as follows..
2023
2022
Vmlhin one year
10,000
10,00
22 Capltal commltments
Amounts conlrarA8d for bul not provSded In the financial slalemenls..
Thertr wer8 no capll81 ¢ommitments outstandlng as al 30 July 202312022- non81.
23 Related party transactlons
There were no disclosable related party Iransadions during the Perlod12022- none).
24 Cash generated from operation8
2023
2022
D6fldt for the Period
(279,5541
1105,1401
Adjuslmenls fo¥..
Deprecialion and Impalrmenl ol tangible fixed assets
2.361
2,605
Movements in wot*ing capital..
Ilncreaselldecrease In debtors
Increa8e in creditors
Increaselldecreasel in deterred income
186,802}
205,953
82.181
164,919
58,572
128,3201
Cash labsorbed byllgenerated from op6ratlons
175,8611
92.636
-20-

BUCKINGHAMSHIRE MUSIC TRUST
NOTES TO THE FINANCIAL STATEMENTS ICONTINUED)
FOR THE PERIOD ENDED 29 JUL Y 2023
25 Analysls of changes In net debt
At 31 July 2022
Cash IIow8 At 29 July 20rJ
Cash at bank and in hand
Bank overdrafts
81,226
{81,2261
16.167)
18,1871
81.226
187,3931
16.1671
Loans falling due within one year
Loans falllng due after more than one year
110,0001
128,4931
110,0001
118.3841
10.109
42.733
177,2841
134,5511
21