ANNUAL REPORT 2022 Registered Charity No 1178401 ## REPORT OF THE TRUSTEES FOR 2022 On behalf of the trustees of The Otakar Kraus Music Trust, it gives me great pleasure to provide you with an update of the activities and well-being of OKMT during 2022. I am pleased to report that OKMT had a splendid year and remains in good shape and continues to deliver our services locally to those in need in the greater Richmond Borough and surrounding areas. OKMT delivers music therapy to people with disabilities or long-term illness, and to vulnerable and isolated people, whether due to the Covid pandemic, the cost-of-living crisis or any other reason. Led by our Director, Clare Lawrence, we have increased the number of people we serve, especially within the Borough of Richmond, by developing new projects in partnership with local organisations. During the year, we provided 3,400 music sessions for 450 people of all ages, a 45% increase over 2021. New projects included: music therapy groups at all six Children’s Centres in Richmond for toddlers with communication delays, and their parents; two groups with The Wild Mind Project of outdoor music therapy for young people with mental health problems; and music therapy groups for adults with Friends of OKMT learning disabilities at Richmond and Hillcroft Adult Community 𝄢 Lord Lee of Trafford College. Our work with children and young people with Ambassador for Friends of OKMT additional needs remains ever strong through OK Music School, OK Youth Choir, Music Club and OK Ukulele group, 𝄢 Dr Margaret Lobo Patron as does our work for people with mental health problems, 𝄢 Councillor Nancy Baldwin Patron neurological conditions and for elderly people with dementia. 𝄢 Sir John Tomlinson Patron With our focus on the vulnerable and those in need, we 𝄢 Ronald Miao Chairr 𝄢 Paul Jarman increased our subsidies for 1 to 1 music therapy to help those 𝄢 Jill Clark Trustee 𝄢 Hilary Emmett on low income or benefits. **----- Start of picture text -----**
|||||| |---|---|---|---|---| |Friends of OKMT| |𝄢|Lord Lee of Trafford| |Ambassador for Friends of OKMT| |𝄢|Dr Margaret Lobo|Patron| |𝄢|Councillor Nancy Baldwin|Patron| |𝄢|Sir John Tomlinson|Patron| |𝄢|Ronald Miao|Chairr|𝄢|Paul Jarman| |𝄢|Jill Clark|Trustee|𝄢|Hilary Emmett| |𝄢|Hannah Parker|𝄢|Elizabeth Shalliker| |𝄢|Eva Peters|𝄢|Hugh Rogers| |𝄢|Valerie Roy|𝄢|Joe Pillman| |𝄢|Grenville Corke|𝄢|Kathryn Howells| |𝄢|Remo Grasso|𝄢|Cheryl Valland| |𝄢|John Grosse|𝄢|James Halstead| |𝄢|Rob Wood|𝄢|Cherry Wood| |𝄢|Alan & Lisette Simcock|𝄢|James Maun| **----- End of picture text -----**
In March 2023, we were very proud to win highly commended in the Best Charity category at the 2022 Richmond Business Awards. Highlights of the year include our concerts. Thank you to St Paul’s Boys School for providing their beautiful auditorium for our summer concert, and to St Mary’s Church, Twickenham for hosting our Christmas concert. We are proud of our children and young people who all performed spectacularly in the heart-warming concerts. Our success in 2022 is in large part due to the support our Director receives from our Operations Coordinator, a role put in place in 2021 and having an impact in our ability to deliver services across the borough. We welcomed our new Operations Co-ordinator, Hana Wilford, in September 2022, and wish her predecessor, Isabel Fitzsimmons, well as she studies to become a music therapist. Fundraiser, Valerie Roy. Our balance sheet remains robust, and OKMT remains in good shape financially. We were able to raise £296,876 during the year to support our activities. Thank you to our management and staff for all their hard work, keeping everything running smoothly. On behalf of the Trustees, I would like to thank all our Funders, our donors, therapists, volunteers and clients for their support, hard work and enthusiasm during the year, and for the positive energy which helped us make 2022 another successful and special year for all of our clients. A special thank you to Lord Lee for choosing OKMT as the beneficiary of his 80th Birthday celebration and to all the Friends of OKMT who supported us through the year with their regular contributions to OKMT. I regret to report that our hoped-for joint project with several other local charities to develop a community hub has unfortunately come to an end. As always, finding a viable dedicated space for OKMT still remains a top priority for the Board. We are ever grateful for the support provided on a weekly basis by Hanworth Methodist Church, United Reformed Church and Newland House School. Without their assistance with providing us a space, delivering our programs would be challenging. As always, OKMT is fiscally prudently managed. Our 2022 projects were fully funded thanks in large part to the dedication of our Ron Miao, Chair 2 ## The Otakar Kraus Music Trust The Otakar Kraus Music Trust (OKMT) was founded in 1991 by Dr Margaret Lobo. Its aim is to provide subsidised music therapy for people of all ages who have physical, psychological, behavioural or emotional difficulties, to improve their mental wellbeing and quality of life through creative and participatory music making, enabling them to reach their potential. OKMT is based in the London Borough of Richmond upon Thames and is an independent, registered charity, No. 1178401, governed by a Constitution, and managed by a Board of Trustees, who are elected and meet quarterly. The Trustees have developed services for the public benefit as per the guidance of the Charity Commission. Music therapy is an NHS recognised psychological therapy, regulated by the Health Care Professions Council (HCPC), based on the understanding that the ability to respond to music is unimpaired by disability, injury or illness. Music therapy helps people with learning or physical disabilities, autism, mental health problems and neurological conditions such as stroke and dementia. It can help to improve speech and communication, confidence, emotional well-being, social skills, cognitive skills, and motor skills. All music therapists of the Trust hold a master’s degree in music therapy and are members of the BAMT (British Association for Music Therapy) and HCPC. The Trust provides bursaries for its clients who cannot afford its services. It receives no state funding and relies on organisations which provide charitable funding and donations. **----- Start of picture text -----**
Impact of OKMT in 2022
%
3,400 450 45
music sessions people helped increase on
2021
NEW
EARLY YEARS MUSIC CLUB OK MUSIC SCHOOL
32 children aged 1-4 attended 100 children attended 90 children & young people
attended
100% showed improved 70% showed improved 100% said OK Music School
listening skills communication skills made them feel happy
‘ The sessions have given ‘ Music Club has improved ‘ My piano lessons make me
him more confidence ’ his social skills ’ feel calmer and less anxious ’
OK YOUTH CHOIR UKULELE LESSONS CLUB OK
26 children and young people 13 children with disabilities had 16 adults with learning disabilities
attended online ukulele lessons took part
94% said they made friends ‘ Playing ukulele has made ‘ I loved playing musical games
‘ I love singing with my me more confident and getting to know people.
friends ’ musically and socially ’ It made me feel creative ’
NEW
NEUROLOGICAL OUTDOOR MENTAL OK MUSIC
MUSIC THERAPY HEALTH GROUP HARMONY
25 people with neurological 12 young people attended 31 elderly people took part
conditions attended
80% had improved breath flow 87% said they bonded with others Clients said they were able to share
something positive
‘ I look forward to being ‘ Listening to music made ‘ It helps me feel on top of
with others ’ me feel relaxed ’ the world ’
We also provided 1-1 music therapy for 60 children and adults, Drumming Workshops for 80
people and music therapy groups for 12 Young Carers
**----- End of picture text -----**
3 ## Music Therapy Music therapy is a highly effective way to reach people of all ages who struggle to communicate, enhancing their social interaction and emotional well-being. In 2022 OKMT provided 890 one-to-one, or small group music therapy sessions for 60 people at our premises, in care and residential homes and in The Russell and Pield Heath Schools. Early Years Music Therapy Following a pilot project in Spring 2022, we were able to run small group music therapy sessions at all six Richmond Children’s Centres in partnership with **Achieving for Children** for 32 children aged 1-4 who have language or communication delays and social difficulties, perhaps caused by the Covid restrictions. The therapists use guitar, keyboard, percussion instruments and familiar songs to help the children develop confidence, communication and social interaction and focus and to help promote parent/carer-child interaction. Thank you to Partners for Health and Youth Music for funding this project. _**Our daughter is definitely starting to talk better and has really engaged with the group**_ ## OK Music Club During 2022, 100 children with additional needs and their siblings attended Music Club run by our Music School Director, Edison Carolino, at **Skylarks Charity** . Small groups attended in three sessions with ages ranging from a few months to teenagers. Most mainstream music activities do not meet their needs, but at Music Club, funded by BBC Children in Need, the music therapist adapts to each individual, and playing percussion together and giving each child a chance to improvise on the keyboard with him, encourages them to listen, communicate, and interact more confidently with others. Edison also runs Drumming Workshops at Music Club which everyone loves. ## _**Music Club is tailored to his needs and helps with group participation and communication**_ ## OK Music School 76 children and young people with disabilities are currently attending OK Music School in 2022, being taught by qualified music therapists to play a musical instrument or sing and perform in public. Pupils make friends, gain confidence and self-esteem, and feel proud performing in our concerts, which bring joy to the community. We held two wonderful concerts featuring OK Music School pupils and Band, the OK Youth Choir and the Ukulele Group, a summer one at St Paul’s School in Barnes and our Christmas concert at St Mary’s Church, Twickenham, where we were honoured to be joined by the Mayor of Richmond upon Thames and other dignitaries. During 2022, three pupils passed Music Teaching Board (MTB) exams. We would like to thank all the funders of OK Music School for their support. _**Music makes me happy, and I look forward to coming to music lessons and seeing my friends**_ 4 ## OK Youth Choir The OK Youth Choir for children and young people with additional needs and their siblings met weekly with 26 attendees. They performed in our summer and Christmas concerts, using Makaton signing also. The choir gives the young people the opportunity to make friends and gain confidence from performing together at our concerts. Many thanks to Heathrow Community Trust for funding the Choir. ## OK Ukulele Group 13 children and young people with additional needs and their siblings took part in online ukulele lessons with Tara Maysey of the **Ukulele Project** . The group performed in our summer and Christmas concerts increasing confidence and pride. Six pupils are preparing for Grade 1 ukulele exam and an ensemble performance exam. Thank you to Kew Village Market for funding this project. Sarah Olney MP presented the cheque to Tara Maysey and Clare Lawrence, Director of OKMT. Philip Wells Interactive ## Poetry Sessions We held Interactive Poetry Sessions for children and young people with disabilities. The sessions enabled them to have fun, and boosted their confidence whilst interacting with one another making creative poems. ## Young Carers Group We ran group music therapy sessions for 12 young carers in partnership with **Richmond Carers Centre** , giving them a chance to have fun with others and share their feelings and worries. Funded from money raised as one of the chosen charities of the former Mayor of LBRuT, and now Patron of OKMT, Cllr Nancy Baldwin. ## Outdoor Music Therapy for Mental Health We ran two 5-week courses with the **Wild Mind Project** with outdoor art and nature activities and music therapy, for young people with mental health issues and for young people from the LGBTQ+ community, helping them express themselves and reduce stress and anxiety. Thank you to Hampton Fund for funding these groups. _**I feel less judged and as though my differences are put aside**_ ## Club OK With a grant from The Normansfield & Richmond Foundation, we ran two 12-week courses for 16 adults with learning disabilities at **Richmond and Hillcroft Adult Community College** . Music therapy and art helped them express themselves and bond with others. Neurological Music Therapy Group We ran three groups for 25 people with neurological conditions in partnership with **Integrated Neurological Services** , one online, one face-to-face and one combined with a speech and language specialist, to help improve voice production and verbal communication. ## OK Music Harmony for Elderly People We returned to in person weekly music therapy groups for elderly people at **Homelink Day Respite Centre** , helping them share memories evoked by the music. We also ran a monthly client/carer group which helped improve interaction and mental well-being. Many thanks to Hampton Fund for funding this project. _**What’s the point of being alive if there’s no music?**_ 5 ## SUMMARY FINANCIAL REVIEW 2022 THE ANNUAL STATUTORY ACCOUNTS CONTAIN THE FULL TRUSTEE REPORT AND FINANCIAL REVIEW FOR YEAR ENDING 31[ST] DECEMBER 2022 THE FULL 2022 INDEPENDENTLY EXAMINED ACCOUNTS FOR OKMT ARE FILED WITH THE CHARITY COMMISSION AND ARE ON DISPLAY VIA OUR WEBSITE Key highlights saw OKMT finish the year in good shape after delivering a record 3,400 music sessions for 450 people across all ages. A range of new projects, covering music therapy sessions for both children and adults were commissioned across the Borough of Richmond. Our financial aim in 2022 was again to maximise as much support as possible to our clients whilst striving to contain costs and overheads to breakeven levels. Community fundraising +£4k and Music Therapy contributions +£17k, together with key funder support raising Grant income by + £14k, helped us achieve our aims. Our increased total revenues, for fees and grants, helped cover the increasing activity £38k, including the full year addition of our new Operations Co-ordinator role. Our overall expenditure shows 93.2% of our costs spent on direct and attributable support of our Charitable aims with just 6.8% spent on Fundraising activity. ## **Future Plans** Reserves at the end of Financial Year 2022 remain in a positive state with free reserves covering four months of full normal current operations. The strategic plan for 2023/24 in terms of charitable activities is supported by a continuous planned programme of grant and restricted funding applications. The Trustees have recognised the financial requirements of sourcing a new studio and retained a £25,000 Designated Fund to support this key purpose. However, we are conscious that against the background of post C19 and the very difficult current cost of living economic conditions, OKMT will need to work really hard to achieve future success and our strategic aims. As a key part of this, we will continue to target and raise more core support funding to help expand our future activities. ||**OKMT**|**STATEMENT OF FINANCIAL ACTIVITIES – 2022**||| |---|---|---|---|---| ||**INCOMING RESOURCES**
**Income – How OKMT raises funds**|**£ £ £ £**
**Unrestricted**
**Restricted**
**Full Year**
**Full Year**
**funds**
**income funds**
**Total funds 2022**
**Total funds 2021**||| ||Donations,CommunityFundraisingand Legacies|36,472 –36,47232,696||| ||Gift Aid
Grants – Net Received
Charitable activities – Music TherapyFee Contributions
Investments
_Total Income_
|1,133– 1,1331,273
788 168,053168,841 155,000
89,931 – 89,931 72,425
499–499 41
**128,823** **168,053** **296,876** **261,435**||| ||**RESOURCES EXPENDED**|||| ||**Expenditure – How OKMT spends funds raised**|||| ||**Fundraising:**|||| ||RaisingFunds – AgencyFundraiser Commission|3,556 –3,5563,025||| ||RaisingFunds – OKMT Fundraising& Marketing|15,2171,300 16,51714,010||| ||**_Total Expenditure on Raising Funds_**|**18,773 1,300 20,073 17,035**||| ||**Direct Charitable Activities:**
Professional Music Therapist Fees and Expenses|60,464104,945165,409147,195||| ||Trainingand Workshops
Musical Equipment
Premises Hire – OKMT Outreach Projects – URC/HH
Main Music Studio Costs – HWMC
BursaryFees and Provisions
Just GivingFee
Events,Printingand Reproduction
Studio Maintenance – HWMC|385 3,215 3,600 1,882
2251,1031,328 1,353
1,737 3,000 4,737 4,994
924 4,2505,174 3,978
2,640 250 2,8903,146
396 – 396 312
5,142 –5,1424,230
527 – 527 2,043||| ||Covid-19 Response – PPE, Equipment and Zoom Costs
**_Total Expenditure on Charitable Activities_**
**Supporting Charitable Activities:**|216 184 400 885
72,656 116,947 189,603 170,018||| ||OKMT Director|6,753 31,38238,135 37,054||| ||Operations Co-ordinator
Administration
Office Expenses and Equipment
Accounting– Outsourced Bureau, Payroll and Review
Insurances
Other Expenses includingWebsite
Bank Charges
BAMT and Other MembershipFees
OKMT – StrategyAwayDay
HR Advertisingand Interview Costs
Depreciation – Tangible assets|2,29513,000 15,295 4,865
12,3415,08317,42415,625
2,029– 2,0291,242
7,630 –7,6307,245
864– 864854
2,065 341 2,406 1,771
276 – 276336
371 –371377
947–947–
– – –431
1,024– 1,024 700||| ||**_Total Expenditure on Supporting Charitable Activities_**
_Total Expenditure_
Net Income for the Year|**36,595 49,806 86,401 70,500**
128,024 168,053 296,077 257,553
799 – 799 3,882||| 6 ||||**OKMT**||||||||**BALANCE SHEET AS AT 31st DECEMBER 2022**|**BALANCE SHEET AS AT 31st DECEMBER 2022**|||||| |---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---| |||||||||**Unrestricted Restricted Full Year**|||||**Full Year**||||| ||||**FIXED ASSETS**
Tangible Fixed Assets
**CURRENT ASSETS**|||||**funds**
**£**
9,913
||

|**income funds Total 2022**
**£ £**
– 9,913|

|**Total 2021**
**£**
9,619||||| ||||Debtors
Cash at Bank and in hand

**CREDITORS**|**_Total current_**|||**_assets_**|18,070
156,285
**174,355**||

|– 18,070
79,136 235,421
**79,136 253,491**|

|15,603
260,643
**276,246 **||||| ||||Creditors: amounts fallingdue within oneyear|||||14,206|||– 14,206||20,304||||| ||||Deferred Income – Restrictedgrants received for 2023|||||43,625|||–43,625||82,367||||| ||||
|**_Total current liabilities_**
**_Net current assets_**||||**57,831**
**116,524**||
|**–57,831**
**79,136 195,660**|
|**102,671**
**173,575**||||| ||||TOTAL NET ASSETS
**FUNDS OF THE CHARITY**|||||126,437
|||79,136 205,573||183,194||||| ||||Unrestricted funds
Designated funds
Restricted income funds– inc. £4,368 MHPC||Comm’||Project|101,437
25,000
–||

|– 101,437
– 25,000
79,13679,136|

|100,638
25,000
57,556||||| ||||TOTAL FUNDS
|||||126,437|||79,136 205,573||183,194||||| ||||**OKMT – Net Grants Received**|||
|**2022**
**New**|**2022**||||**2022**
**New**|**2022**||||| ||||**Grants Received inprioryears – B/fwd to 2022**
ArtSocial Foundation|||**Full Grant**
**£**
||**Net Spend**
**£**
1,490
**Grants Received in full 2022**
ArtSocial Foundation||||**Full Grant**
**£**
17,650|**Net Spend**
**£**
16,160||||| ||||BBC Children in Need
Hampton Fund|||
|
|850
1,580||
|Arts SocietyKingston
BBC Children in Need|2,252
10,000|60
9,485||||| ||||Hampton Fund - Homelink Group
Jack PetcheyFoundation
John Horniman’s Children’s Trust
National Lottery– Awards For All|||


|


|6,245
865
1,315
2,500|||Camelia Botnar Foundation
CityBridge Trust
Garfield Weston Foundation
Hampton Fund – Music School|10,000
31,500
10,000
15,000|0
30,750
3,739
13,865||||| ||||Postcode SocietyTrust
The BailyThomas Charitable Fund
The Hodge Foundation
The Radcliffe Trust
Other Grants|||



|



|1,815
1,000
1,400
2,500
6,495||

|Hampton Fund – Core
Heathrow CommunityTrust
Jack PetcheyFoundation
Kew Village Market
MM UK|10,000
5,130
1,400
1,000
1,000|7,500
3,105
503
1,000
407||||| ||||**_RF - Subtotal per Statutory Acccounts - Note 10 _**|||||**28,055**|||Masonic Charitable Foundation
National Lottery– Awards For All|5,000
10,000|5,000
7,471||||| ||||OKMT
Sources of Income
2022|||Grants – Net
£168,841
57%||Received|||Normansfield and Richmond Foundation
Hospital Saturday Fund (Partners for Health)
LondonCatalyst(Partnersfor Health)
Richmond Parish Lands Charity
Stephen Clark Charitable Trust
The Edward GostlingFoundation
The Tregelles Trust
The Truemark Trust|8,000
1,500
1,500
25,000
1,000
5,000
3,000
6,000|6,505
1,500
1,500
25,000
0
2,568
2,700
0||||| ||||||||||||TommyHollis Children’s Fund
Youth Music
**_RF - Subtotalper Statutory Acccounts - Note 10_**
CityBridge Trust - UnRestricted|3,200
5,500
189,632
788|1,180
0
139,998
788||||| ||||||||||||**Total RF Net Utilised as Statutory Accounts 2022**||||||| ||||||||||||Grants Total – Net Receivedper 2022 Accounts||168,841||||| ||||||Gift Aid||||||||||||| ||||||and||||||||||||| |||||||Interest|||||||||||| |||||||£1,632|||||||||||| ||||||||1%||||||||||| Charitable activities – Donations, Music Therapy Fee Community Fundraising Contributions and Legacies £89,931 £36,472 30% 12% 7 ## Fundraising Events during 2022 Our **Quiz and Curry Night** in May was our first real-life indoor fundraising event for 2 years! A great evening with more fiendish questions from Chris Lawrence, and our compere Cllr Nancy Baldwin keeping us in order. A huge thank you to our former music therapist, Elliot Little, and Sebastian Alasino who cycled 100 miles in the **RideLondon-Essex 100** to raise funds for OKMT – a huge challenge which they both enjoyed. Many thanks also to Alexi and Navjote Chan who ran **the Big Half** Marathon in September, raising over £2,000 for OKMT. We are also very grateful to Chris Lawrence who walked 26.2 miles through the parks and riverside in Southwest London in the **Virtual Marathon** in October and raised over £1,000. Thank you to **St Paul’s School, Barnes** , who held a fundraising concert for us in June and provided their beautiful auditorium free of charge for our summer concert. We are so grateful to Lord Lee of Trafford, our Friends of OKMT Ambassador, who chose OKMT as the beneficiary for his **80th birthday lunch at Petersham Nurseries** . Our OK Music School band played some numbers for his guests who absolutely loved the performances. Many thanks to everyone who donated so generously, raising over £5,000, and to Gael and Francesco Boglione at Petersham Nurseries. We are also grateful to the Arts Society, Kingston who raised funds for music therapy and dance workshops; and for donations from Kew Village Market, the Twickenham Lodge Masons, St Francis Da Scala Catholic Church, Vocality Choir, and Rachel Logan’s singing pupils. Thank you very much to everyone who supported us in 2022, to our Friends of OKMT and to all our Funders, listed below, who have enabled us to make a difference to disadvantaged people through the power of music. OKMT Trustees serving during 2022 Ronald Miao Chair Raymond Collins Treasurer Jill Clark Laura Clayton Plail Kamna Muralidharan Peter Hadfield Edward Boamah Resigned ## Staff Clare Lawrence Director Valerie Roy Fundraising Manager Cheryl Valland Administrator Isabel Fitzsimmons Operations Co-ordinator Hana Wilford Operations Co-ordinator Mercedes Bianchin Music School Co-ordinator ## Therapists & Teachers Edison Carolino Music Director Carmem Coles Sophie Crawford Chrissy Fuller Elaine Ng Margaret Nicholson Tara Maysey Jack Hudson Jo Caleb Gary McNeillie Rachel Logan 2022 Funders & Supporters ArtSocial Foundation Arts Society Kingston BBC Children in Need Camelia Botnar Foundation City Bridge Trust The Edward Gostling Foundation The Garfield Weston Foundation Hampton Fund The Hodge Foundation John Horniman’s Children’s Trust The Tommy Hollis Children’s Fund Jack Petchey Foundation Heathrow Community Trust Hospital Saturday Fund London Catalyst Masonic Charitable Foundation National Lottery/Awards for All Normansfield and Richmond Foundation Postcode Society Trust Richmond Parish Lands Charity Stephen Clark Charitable Trust The Radcliffe Trust The Baily Thomas Charitable Fund The Truemark Trust The Otakar Kraus Music Trust 112 Broad Lane, Hampton, Middlesex TW12 3BW Telephone: 07435 062212 Email: info@okmtrust.org.uk Website: www.okmtrust.org.uk Registered Charity No 1178401 **` Charity No: 1178401** **THE OTAKAR KRAUS MUSIC TRUST REPORT AND FINANCIAL STATEMENTS YEAR ENDED 31 DECEMBER 2022** ## **TWP ACCOUNTING LLP** Chartered Accountants The Old Rectory Church Street Weybridge Surrey KT13 8DE **THE OTAKAR KRAUS MUSIC TRUST** ## **YEAR ENDED 31 DECEMBER 2022** |**CONTENTS**|| |---|---| ||Page| |Reference and administrative information|1| |Trustees Report|2 - 6| |Report of the independent examiner|7| |Statement of financial activities|8| |Balance sheet|9| |Notes forming part of the financial statements|10 - 17| **THE OTAKAR KRAUS MUSIC TRUST** **YEAR ENDED 31 DECEMBER 2022** ## **REFERENCE AND ADMINISTRATIVE INFORMATION** ## **Trustees - serving throughout the year:** Ronald Miao (Chairman) Raymond Collins (Treasurer) Jill Clark Laura Clayton Plail Kamna Muralidharan Peter Hadfield Edward Boamah (Resigned Oct 2022) ## **Staff** Director – Clare Lawrence Fundraising Manager – Valerie Roy Administrator – Cheryl Valland Operations Co-ordinator - Isabel Fitzsimmons – to September 2022 - Hana Wilford – from September 2022 OK Music School Co-ordinator – Mercedes Bianchin ## **Charity registered number** 1178401 ## **Company registration number** CE014110 ## **Registered Office** The Otakar Kraus Music Trust 112 Broad Lane Hampton Middlesex TW12 3BW ## **Independent examiners** TWP Accounting LLP The Old Rectory Church Street Weybridge Surrey KT13 8DE Page 1 ## **THE OTAKAR KRAUS MUSIC TRUST** ## **TRUSTEES REPORT – YEAR ENDED 31 DECEMBER 2022** The trustees present their annual report together with the financial statements of the charity for the year ended 31 December 2022 The trustees who served during the year are listed in page 1 under reference and administrative information. On behalf of the trustees of the The Otakar Kraus Music Trust, it gives me great pleasure to provide you with an update of the activities and well-being of OKMT during 2022. ## **Objectives and activities** ## a. Policies and objectives The aim of The Otakar Kraus Music is to provide subsidised music therapy for people of all ages who have physical, psychological, behavioural or emotional difficulties, in order to improve their mental wellbeing and quality of life through creative and participatory music making, enabling them to reach their potential. ## **Structure, governance and management** ## a. Constitution The Otakar Kraus Music Trust (OKMT) was founded in 1991 by Dr Margaret Lobo and is based in the London Borough of Richmond upon Thames and is an independent, registered charity. The original Trust (formed in 1991) was legally transformed into a CIO (new charity registration 1178401) on the 1[st ] May 2019. The CIO is governed by a Constitution, and managed by a Board of Trustees, who are elected by resolution of the Board and inducted by the Charity Director. The charity’s trustees have complied with the duty in section 17(5) of the 2011 Charities Act to have due regard to guidance published by the Charity Commission on public benefit. ## b. Methods of appointment or election of Trustees The management of the charity is the responsibility of the Trustees who are elected and co-opted under the terms of the constitution. ## c. Organisational structure and decision making policies: The board commenced 2022 with seven trustees but suffered the resignation of long-standing trustee Mr Edward Boamah for personal reasons in October 2022, therefore ending the year with six trustees. The Board continued to meet quarterly with our remaining trustees through 2022 and held a Strategy away update day in September 2022 to update and refresh our strategic plan. The Board will look to recruit an additional two to three trustees in 2022/2023 to expand the vitality and depth of knowledge of the Board. Board sub-committees meet monthly to discuss finance, organisational and operational matters. The Board carried out a major Strategy review of the charity in 2020 and continues to develop this strategic plan, expanding our services across the LBRuT, as we recover from the pandemic and resulting economic consequences, exacerbated by the conflict in Ukraine. We strive to reach more vulnerable people and aim to meet growing needs within the community. This involves building on our core activities and adding new activities in the mental health and wellbeing areas so that OKMT can further support our clients across the borough. To strengthen our ability to meet these needs, we have developed the role of Operations Co-Ordinator, (Isabel Fitzsimmons to September 2022 and Hana Wilford from September 2022) to offer support to our Director, Clare Lawrence, in running our existing projects and in preparing the launch of new programmes in 2022. Obviously, the continued effects of the Covid 19 Pandemic means that the Strategic rollout will be adapted during 2022 and looking further ahead also into 2023. The Board have examined where there may be risks which the charity could face and confirm that systems have been established to enable steps to be taken to lessen these risks. OKMT maintains a full range of governance policies including Safeguarding and Privacy policies which are published on our website. Page 2 ## **THE OTAKAR KRAUS MUSIC TRUST** ## **TRUSTEES REPORT – (Continued) YEAR ENDED 31 DECEMBER 2022** ## **Achievements and performance** - a. Main achievements of the charity I am pleased to report that OKMT had a splendid year in 2022 and remains in good shape and continues to deliver our services locally to those in need in the greater Richmond Borough and surrounding areas. OKMT delivers music therapy to people with disabilities or long-term illness, and to vulnerable and isolated people, whether due to the Covid pandemic, the cost-of-living crisis or any other reason. Led by our Director, Clare Lawrence, we have increased the number of people we serve, especially within the Borough of Richmond, by developing new projects in partnership with local organisations. During the year, we provided 3,400 music sessions for 450 people of all ages, a 45% increase over 2021. New projects included: music therapy groups at all 6 Children’s Centres in Richmond for toddlers with communication delays, and their parents; we ran 2 groups at The Wild Mind Project, outdoor music therapy for young people with mental health problems; and we ran music therapy groups for adults with learning disabilities at Richmond and Hillcroft Adult Community College. Our work with children and young people with additional needs remains ever strong through OK Music School, OK Youth Choir, Music Club and OK Ukulele group, as does our work for people with mental health problems, neurological conditions and for elderly people with dementia. With our focus on the vulnerable and those in need, we increased our subsidies for 1 to 1 music therapy to help those on low income or benefits. In February 2023, for the second year in a row, we were very proud to win highly commended in the Best Charity category at the 2022 Richmond Business Awards. Highlights of the year include our concerts. We are proud of our children and young people who had the opportunity to perform in our Summer Concert, which was held at St Paul’s Boys School for the first time, and our annual Christmas Concert which was held at St Mary’s Church., Twickenham, also for the first time. They all performed spectacularly and watching them was heart-warming and a genuine highpoint to end the year! Our success in 2022 is in large part due to the support our Director receives from our Operations Coordinator, a role put in place in 2021 and having an impact in our ability to deliver services across the borough. We welcomed our new Operations Co-ordinator, Hana Wilford, in September 2022, and wish her predecessor, Isabel Fitzsimmons, well as she studies to become a music therapist. I regret to report that our hoped-for joint project with several other local charities to develop a community hub has unfortunately come to an end. As always, finding a viable dedicated space for OKMT still remains a top priority for the Board. We are ever grateful for the support provided on a weekly basis by Hanworth Methodist Church, United Reformed Church and Newland House School. Without their assistance with providing us a space, delivering our programmes would be challenging. A full list of our achievements and client activities during 2022 are published in our summary Annual and Impact Reports. We look forward to 2023 with confidence and hope that OKMT will continue to support our clients across all age ranges during the post covid recovery period and the challenges of the cost-of-living crisis ahead. Page 3 ## **THE OTAKAR KRAUS MUSIC TRUST** ## **TRUSTEES REPORT – (Continued) YEAR ENDED 31 DECEMBER 2022 Achievements and performance** - a. Main achievements of the charity – continued **Music Therapy** is the clinical and evidence-based use of music interventions to accomplish individualised goals within a therapeutic relationship. It is particularly effective for those who find it difficult to communicate verbally because it does not rely on an ability to speak in order to be accessible. The table below summarises the key benefits of our sessions for our clients in 2022. Page 4 **THE OTAKAR KRAUS MUSIC TRUST** ## **TRUSTEES REPORT (Continued) – YEAR ENDED 31 DECEMBER 2022** ## **Financial review** OKMT continues to be in positive shape financially at 31[st] December 2022, thanks to all the hard work of the management and fundraising team, our music therapists, volunteers and our Trustee Board who have collectively risen to the challenge of the recovery from the Covid pandemic in supporting our clients. Our overall financial aim this year was to continue to maximise as much as possible the support to our clients whilst striving to contain costs and overheads to breakeven levels, which we have achieved. OKMT has traditionally derived over 50% of our income from grants and to this extent we are not exposed as much as some charities to the downturn in community and individual funding caused by the pandemic and growing cost of living crisis. We have recovered many of our one-to-one sessions where vulnerable clients can take up face to face sessions, helping us to lift our fee contributions back closer to pre-pandemic levels. As always, OKMT is fiscally prudently managed. Our 2022 projects were fully funded thanks in large part to the dedication of our Fundraiser, Valerie Roy, who has again managed to increase the level of grant funding by a further £14k to £169k, equating to 57% of current year total income. Our Balance Sheet remains robust, and therefore I am pleased to report that OKMT is financially secure for the challenges ahead. A big thank you to our management team led by Clare Lawrence, who so diligently matches our available resources to the maximum need and to her team (Cheryl Valland, Isabel Fitzsimmons- to Sept 2022 / Hana Wilford - from Sept 2022 and Mercedes Bianchin), whose efforts and hard work keep everything running smoothly. In total, OKMT reported income of £296,876 against overall costs of £296,077 giving a small operating surplus of £799 for the financial year, down £3k on 2021, but in line with our strategic breakeven objectives for 2022. The movement is explained by by our increased total revenues of £35k, up due to recovering Community fundraising +£4k, Music Therapy fee contributions +£17k added to the grants increase of +£14k, combining to offset the total uplift in 2022 costs of £38k. These increased costs were mainly due to additional 2022 activities taking place versus the lower 2021 Covid19 affected levels. The recovering activity and increased client sessions thus saw our Music Therapist costs increase by +£18k and rental costs +£1k to reach more normal operating spend levels. These increases, together with the full year cost of the Operations Coordinator +£10k, holding both Summer and Christmas Music School concerts together with increased event, marketing and operating costs (a net £9k) accounted for the total cost uplift. The main areas of revenue and expenditures are reported in the Statement of Financial Activities and a list of principal grant funders, to whom we are so grateful, are set out in note 10 to the accounts. Formally, we note that OKMT receives no state funding and relies on organisations which provide charitable funding and donations. Fundraising and community events are held throughout the year. As reported in 2021, OKMT and our partner Skylarks Charity really appreciated the kind support of Hampton Fund and The Dolan Charitable Trust in supporting the planning application for the joint community project at Marble Hill. The project was still awaiting planning permission throughout the course of 2022. Reference notes to the Accounts - 9 Designated Funds & 10 Grants for a post balance sheet update on this project. On behalf of the Trustees, I would like to thank all our Funders for their flexibility with their Grants, our donors, staff, therapists, volunteers and clients for their support, hard work and enthusiasm in a continued challenging year, and for the positive energy which helped us make 2022 another successful and special year for all of our clients. A special thanks to the Friends of OKMT who supported us through the year with their regular contributions to OKMT. ## a. Going concern The trustees are confident that the trust has adequate resources to continue in operational existence for the foreseeable future and meet its financial obligations. Therefore, they adopt the going concern basis of accounting in preparing these financial statements. ## b. Reserves policy Best practice holds that reserves equal a minimum of three months of an organisation’s running costs. The Trustees note that our total general reserve (unrestricted funds) amounts to £101,437, with net free reserves of £91,524 (see note 12 - Net Current assets for detailed breakout), held at the end of the period. These are deemed sufficient to meet the demands of the organisation’s future running costs as at the end of the financial year. Net free cash reserves cover four months of full operating costs at current operating levels. OKMT will endeavour to build up to six months cover in future, but realistically, the recovery from the pandemic and the difficult ‘cost of living’ economic conditions may slow this aim down for the next few years, as we seek to maximise our client services through this time. OKMT’s Trustee Board has identified the clear need to secure premises in the borough and as such holds a Designated Premises fund now totalling £25,000, as a reserve to help secure a future premise. Page 5 **THE OTAKAR KRAUS MUSIC TRUST** ## **TRUSTEES REPORT (Continued) – YEAR ENDED 31 DECEMBER 2022** ## **Post Balance Sheet Events** Both the UK and worldwide economy continue to face uncertainty even in the recovery period post the Coronavirus (Covid-19) pandemic and the subsequent inflationary effects on disrupted supply chains. This has been made worse by the continued economic effects of the conflict in Ukraine and its steep effect on energy costs which has driven the inflationary spiral witnessed in the UK during 2022 and into 2023. The final outcome of these circumstances in terms of economic repercussions and future financial implications on both the World and UK economies cannot be fully determined at the balance sheet date. Ultimately, future trading success of OKMT and the charity sector in general, is tied to and dependent upon the overall state of the economy and the consequent effects of the growing inflation led cost of living position here in the UK. The Trustees note that OKMT has adequate resources and reserves to continue and therefore adopts the going concern basis in preparing the annual report and financial statements for 2022 year end. ## **Risk management** The Trustees have a duty to identify and review the risks to which the charity is exposed and to ensure proper controls are in place to provide reasonable assurance against fraud and error. Risks and their management are formally reviewed every year **.** ## **Statement of Trustees' responsibilities** The trustees are responsible for preparing the Trustees’ Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). The law applicable to charities in England and Wales, the Charities Act 2011, Charity (Accounts and Reports) Regulations 2008 and the provisions of the Constitution require the Trustees to prepare financial statements for each financial year which give a true and fair view of the state of the affairs of the charity and of the incoming resources and application of resources, including the income and expenditure, of the charity for that year. In preparing those financial statements, the Trustees are required to: - select suitable accounting policies and then apply them consistently; - observe the methods and principles in the Charities SORP 2019 (FRS 102); - make judgements and estimates that are reasonable and prudent; - state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; - prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation. The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charities (Accounts and Reports) Regulations 2008 and the provisions of the Constitution. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. The trustees are responsible for the maintenance and integrity of the charity and financial information included on the charity’s website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions. Approved by order of the members of the board of Trustees on 10/09/23 and signed on their behalf by: **………………………** R Miao **Chairman** Page 6 **THE OTAKAR KRAUS MUSIC TRUST** ## **YEAR ENDED 31 DECEMBER 2022** ## **Independent Examiner's Report to the Trustees of The Otakar Kraus Music Trust** I report to the charity trustees on my examination of the accounts of the charity for the year ended 31 December 2022, which are set out on pages 8 to 16. ## **Responsibilities and basis of report** As the charity’s trustees you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the Act’). I report in respect of my examination of the charity’s accounts carried out under section 145 of the Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act. ## **Independent examiner's statement** I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect: 1. accounting records were not kept in respect of the charity as required by section 130 of the Act; 2. the accounts do not accord with those records; 3. the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 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. 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 accounts to be reached. This report is made solely to the charity's Trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. 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 an Independent Examiner's 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 or for this report. Signed: Dated: 20/09/23 Paul Hawksley FCA MAAT CTA ## **TWP Accounting LLP** Chartered Accountants The Old Rectory Church Street Weybridge Surrey KT13 8DE Page 7 **THE OTAKAR KRAUS MUSIC TRUST** ## **YEAR ENDED 31 DECEMBER 2022** ## **STATEMENT OF FINANCIAL ACTIVITIES** |**Note**
**Incoming resources**
Donations, community fundraising and legacies
Gift Aid
Grants – Net Utilised
**10**
Charitable activities – Music Therapy Contributions
**2**
Investments
**Total incoming resources**
**Resources expended**
Raising funds - Agency fundraiser commission
3
Raising funds - OKMT fundraising & marketing
3
Charitable activities
**3**
**Total resources expended**
**Net incoming resources / (resources expended)**
**before other gains (Net Income for the period)**
**Net incoming resources**
**Reconciliation of funds**
Fund balance brought
forward 1 January 2022
Funds - aggregate net year on year movements for
the period
10/11
Fund balance carried
forward 31 December 2022|**Unrestricted**
**funds**
**Restricted**
**funds**
**Designated**
**funds**
**2022**
**Full Year**
**Total**
**2021**
**Full Year**
**Total**
**£**
**£**
**£**
**£**
**£**
36,472
-
-
36,472
32,696
1,133
-
-
1,133
1,273
788
168,053
-
168,841
155,000
89,931
-
-
89,931
72,425
499
-
-
499
41| |---|---| ||128,823
168,053
-
296,876
261,435| ||(3,556)
-
-
(3,556)
(3,025)
(15,217)
(1,300)
-
(16,517)
(14,010)
(109,251)
(166,753)
-
(276,004)
(240,518)| ||(128,024)
(168,053)
-
(296,077)
(257,553)| ||799
-
-
799
3,882| ||799
-
-
799
3,882
100,638
57,556
25,000
183,194
194,643
21,580
21,580 (15,331)| ||101,437
79,136
25,000
205,573
183,194| The Statement of Financial Activities includes all gains and losses recognised in the period. The notes on pages 9 to 16 form part of these financial statements. Page 8 **THE OTAKAR KRAUS MUSIC TRUST** ## **CHARITY NUMBER 1178401** ## **BALANCE SHEET AS AT 31 DECEMBER 2022** |Note
**Fixed Assets**
Tangible Fixed Assets
13
**Current assets**
Cash at bank and in hand
Debtors
5
**Creditors: amounts falling due within one year**
6
**Net current assets**
**Net assets**
12
**Charity funds**
Unrestricted funds
Designated funds
9
Restricted funds
10
**Total funds**
8|**£**
235,421
18,070
(57,831)|**2022**
**£**
9,913



195,660|**£**
260,643
15,603
(102,671)|**2021**
**£**
9,619



173,575| |---|---|---|---|---| |||||| |||205,573||183**,194**| |||101,437
25,000
79,136||100,638
25,000
57,556| |||205,573||183,194| The financial statements were approved by the trustees and authorised for issue on 10/09/23 and signed on their behalf by: ## ……………………. R Miao **Chairman** ## ……………………. ## R L Collins ACMA CGMA **Treasurer** The notes on pages 10 to 16 form part of these financial statements. Page 9 **THE OTAKAR KRAUS MUSIC TRUST** **YEAR ENDED 31 DECEMBER 2022** ## **NOTES FORMING PART OF THE FINANCIAL STATEMENTS** ## **1 Accounting Policies** The Charity’s name is The Otakar Kraus Music Trust and the address of the registered office is given in the charity information on page 1 of these financial statements. The nature of the charity’s operations and principal activities is the provision of Music Therapy. In the event of the charity being wound up, the members of the charity have no liability to contribute to its assets and no personal responsibility for settling its debts and liabilities. The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated. ## **1.1 Basis of preparation of financial statements** The charity constitutes a public benefit entity as defined by FRS102. The financial statements 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 October 2019), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011. The financial statements are prepared on a going concern basis under the historical cost convention, modified to include certain items at fair value. The financial statements are presented in sterling which is the functional currency of the charity and rounded to the nearest £. ## **1.2 Going concern** The trustees are confident that the trust has adequate resources to continue in operational existence for the foreseeable future and meet its financial obligations. Therefore, they adopt the going concern basis of accounting in preparing these financial statements. ## **1.3 Funds** Unrestricted funds are available for use at the discretion of the trustees in furtherance of the general objectives of the charity and which have not been designated for other purposes. Designated funds comprise unrestricted funds that have been set aside by the trustees for particular purposes. The aim and use of the designated fund is set out in note 9 of the financial statements. Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the charity for particular purposes. The cost of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements. ## **1.4 Revenue Recognition** All incoming resources are included in the Statement of Financial Activities (SoFA) when the charity is legally entitled to the income after any performance conditions have been met, the amount can be measured reliably, and it is probable that the income will be received. For donations to be recognised the charity will have been notified of the amounts and the settlement date in writing. If there are conditions attached to the donation and this requires a level of performance before entitlement can be obtained, then income is deferred until those conditions are fully met or the fulfilment of those conditions is within the control of the charity and it is probable that they will be fulfilled. No amount is included in the financial statements for volunteer time in line with the SORP (FRS 102). Where practicable, gifts in kind donated for distribution to the beneficiaries of the charity are included in stock and donations in the financial statements upon receipt. If it is impracticable to assess the fair value at receipt or if the costs to undertake such a valuation outweigh any benefits, then the fair value is recognised as a component of donations when it is distributed, and an equivalent amount recognised as charitable expenditure **.** Income from trading activities includes income earned from fundraising events and trading activities to raise funds for the charity. Income is received in exchange for supplying goods and services in order to raise funds and is recognised when entitlement has occurred. Income from government and other grants are recognised at fair value when the charity has entitlement after any performance conditions have been met, it is probable that the income will be received and the amount can be measured reliably. If entitlement is not met, then these amounts are deferred. Page 10 **THE OTAKAR KRAUS MUSIC TRUST** **YEAR ENDED 31 DECEMBER 2022** ## **NOTES FORMING PART OF THE FINANCIAL STATEMENTS – continued** ## **1.5 Expenditure Recognition** All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category. Expenditure is recognised where there is a legal or constructive obligation to make payments to third parties, it is probable that the settlement will be required, and the amount of the obligation can be measured reliably. It is categorised under the following headings: - Cost of Fundraising. - Expenditure on charitable activities: and - Other expenditure represents those items not falling into the categories above. The analysis of these costs is included in note 3. Irrecoverable VAT is charged as an expense against the activity for which expenditure arose. ## **1.6 Support costs allocation** Support costs are those that assist the work of the charity but do not directly represent charitable activities and include office costs, governance costs, administrative payroll costs. They are incurred directly in support of expenditure on the objects of the charity. Fund-raising costs are those incurred in seeking voluntary contributions and do not include the costs of disseminating information in support of the charitable activities. The analysis of these costs is included in note 3. ## **1.7 Tangible Fixed Assets** A new fixed assets policy was implemented in 2019 which involves all capital equipment either purchased or freely donated to the Trust, with capital values exceeding £500. Therefore, tangible fixed assets of more than £500 are capitalised and recognised when future economic benefit are probable, and the cost or value of the asset can be measured reliably. Tangible fixed assets are initially recognised at cost. After recognition, under the cost model, tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. All costs incurred to bring a tangible fixed asset into its intended working condition should be included in the measurement of cost. The Trustee Board has approved a new policy for the capitalisation of key Trust assets, together with an associated depreciation policy. Depreciation is charged so as to allocate the cost of tangible fixed assets less their residual value over their estimated useful lives. Depreciation is provided on the following bases: Specific musical instruments – Grand Piano - 50 years Musical instruments & electronic equipment - 10 years Computer Equipment & Laptops - 5 years ## **1.8 Debtors** Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due. ## **1.9 Taxation** The charity is exempt from tax on its charitable activities. ## **2 Charitable Activities – Incoming Resources** The activity for the year was the provision of music therapy by The Otakar Kraus Music Trust. ||**Full Year**|**Full Year**| |---|---|---| ||**2022**|**2021**| ||**£**|**£**| |Fee Contributions invoiced towards subsidised Music Therapy Services.|89,931|72,475| Page 11 **THE OTAKAR KRAUS MUSIC TRUST** ## **YEAR ENDED 31 DECEMBER 2022** ## **NOTES FORMING PART OF THE FINANCIAL STATEMENTS – continued** |**3**
**Total Resources Expended**
The only activity for the year was music therapy for
The Otakar Kraus Music Trust.
**Fundraising:**
Agency Fundraising Commission
OKMT Marketing
OKMT Fundraising
_£1,300 (2021 - £3,539) of the above costs were attributable to_
_restricted funds._
_£18,773 (2021 - £13,496) of the above costs were attributable_
_to unrestricted funds._
**Direct Charitable Activities:**
Professional Music Therapist fees & Exps.
Workshops, Exam & Study Fees.
Training & Courses
Musical Equipment & Tablets
Premises Hire - New Main Studio
Premises Hire – Outreach projects
New Premises Community Project (MHPC)
Bursary fees and provisions
Just / Local / Giving affiliation fees
Event, printing & reproduction
Studio Maintenance & Refurbishment
Covid 19 Response – PPE, Equipment & Zoom costs
_£116,947 (2021 - £109,943) of the above costs were_
_attributable to restricted funds._
_£72,656 (2021 – £60,075) of the above costs were_
_attributable to unrestricted funds_
**Support & Governance costs:**
OKMT Trust Director
OKMT Ops Co-ordinator
Administration
Office expenses & equipment
Accounting, Review & Payroll - Cloud Bureau
Insurances
Other Expenses inc Website
BAMT & other membership fees
Bank Charges & commissions
OKMT – Strategy Away day
Recruitment advertising & costs
Depreciation – Tangible Assets
_£49,806 (2021 - £41,518) of the above costs were attributable_
_to restricted funds._
_£36,595 (2021 - £28,982) of the above costs_
_were attributable to unrestricted funds_.
_The independent examination, review, certification and professional advice_
_£2,100 (2021 - £1,850) are included within support costs_
**Total Cost of Total Charitable Activities**
**Total Expenditure**|**Full**
**Year**
**2022**
**£**
(3,556)
(787)
(15,730)
(20,073)
(165,409)
(2,645)
(955)
(1,328)
(5,174)
(4,737)
(0)
(2,890)
(396)
(5,142)
(527)
(400)
(189,603)
(38,135)
(15,295)

(17,424)
(2,029)
(7,630)
(864)
(2,406)
(371)
(276)
(947)
(0)
(1,024)
(86,401)
(276,004)
(296,077)|**Full**
**Year**
**2021**
**£**
(3,025)
(382)
(13,628)| |---|---|---| |||(17,035)| |||(147,195)
(919)
(963)
(1,353)
(3,978)
(4,994)
(0)
(3,146)
(312)
(4,230)
(2,043)
(885)| |||(170,018)| |||(37,054)
(4,865)
(15,625)
(1,242)
(7,245)
(854)
(1,771)
(377)
(336)
(0)
(431)
(700)| |||(70,500)| |||| |||(240,518)| |||(257,553)| Page 12 **THE OTAKAR KRAUS MUSIC TRUST** ## **YEAR ENDED 31 DECEMBER 2022** ## **NOTES FORMING PART OF THE FINANCIAL STATEMENTS – continued** ## **4 Employees** OKMT has one full time employee (our Director) and one part time employee throughout 2022. No employee was paid more than £60,000 per annum. Neither of the employees are Trustees. The employees received remuneration and expenses during the year of £53,430 (Salaries - £42,705; Social security costs - £8,215; Pension - £2,510). Year 2021 - £41,919 (Salaries - £28,430; Social security costs - £7,940; Pension - £5,549. OKMT pays Pension contributions in line with auto-enrolment direct to a named Pension scheme. |**5**
**Debtors**

Trade Debtors
Prepayments
**6 Creditors: Amounts falling due within one year**

Other Taxation and Social security
Accruals and Deferred income (see note 11)
_(Deferred Income included in creditors – 2022 £43,625 / 2021 £82,367)_|**2022**
**£**
16,268
1,802
18,070
**2022**
**£**
864
56,967
57,831|**2021**
**£**
14,205
1,398| |---|---|---| |||15,603| |||**2021**
**£**
1,386
101,285| |||102,671| ## **7 Related Party Transactions** The Trustees neither received nor waived any remuneration or expenses during the year. ## **8 Statement of Funds** |General Reserves
Restricted Funds
Designated Fund
**TOTAL FUNDS**|**As at**
**Transfers/**
**As at**
**1 January**
**Income**
**Net**
**movement**
**Total Net**
**Expenses**
**31 December**
**2022**
**2022**
**2022**
**2022**
**2022**
**£**
**£**
**£**
**£**
100,638
128,823
(128,024)
101,437
57,556
168,053
21,580 (168,053)
79,136
25,000
-
-
25,000| |---|---| ||183,194
296,876
21,580
(296,077)
205,573| ## **9 Designated Fund – Premise & MHPC project** The Trustees have retained the designated fund towards the provision of costs associated with locating, sourcing and fitting out new premises. The current fund total is £25,000 and this forms the basis for supporting our continuing search for a new home. OKMT had during 2022 continued to be proactive in supporting a partnership community development project, within the Richmond Borough, with other local charities and funding stakeholders. The Marble Hill Community Project had the potential to fulfil our requirement for a new permanent home, while sharing the facility with other local charities in a community hub. It was hoped the project would receive planning permission from the local council in 2022 or early 2023, but a final decision will be made on the project in 2023. OKMT retains a small project fund, within our Restricted Funds total, to help facilitate planning. If the project does not proceed to planning, OKMT will close and distribute the remaining fund to the contributing project stakeholders. (Post the Balance Sheet date, it has been decided to close the project, and the fund will be distributed by the end of 2023.) Page 14 ## **THE OTAKAR KRAUS MUSIC TRUST** ## **YEAR ENDED 31 DECEMBER 2022** ## **NOTES FORMING PART OF THE FINANCIAL STATEMENTS – continued** |**10**
**Restricted Funds - Reconciliations**
**OKMT**
**_Restricted Funds - Balance Sheet Cash Received / Income & Cost Utilisation_**
**Grants Received Prior Years– **Agreed Balances B/fwd to 2022
The Mayors Fund – (LBRuT) Wellbeing
The Walter Lobo Bursary Fund
Other small Grants pre-2021
ArtSocial Foundation
BBC Children in Need
Hampton Fund
Hampton Fund – for Homelink Group
Jack Petchey Foundation
John Horniman’s Children’s Trust
MM - Big Half
National Lottery – Awards For All
Postcode Society Trust
Stephen Clark Charitable Trust
The Baily Thomas Charitable Fund
The Hodge Foundation
The Radcliffe Trust
Net Grants brought forward from prior years &_Balance c/fwd to 2023_
**Grants Received 2022 Projects**
_Grants – prepaid 2021 – Deferred to 2022 - £82,367_
ArtSocial Foundation
Arts Society Kingston
BBC Children in Need
Camelia Botnar Foundation
Masonic Charitable Foundation
Normansfield and Richmond Foundation
Richmond Parish Lands Charity
The Edward Gostling Foundation
The Tregelles Trust
_Grants – Received in 2022 - £107,265_
ArtSocial Foundation
Arts Society Kingston
City Bridge Trust
Garfield Weston Foundation
Hampton Fund – Music School
Hampton Fund – Core
Heathrow Community Trust
Jack Petchey Foundation
Kew Village Market
MM UK
National Lottery – Awards For All
The Hospital Saturday Fund (Partners for Health)
London Catalyst (Partners for Health)
Stephen Clark Charitable Trust
Youth Music
The Truemark Trust
Tommy Hollis Children’s Fund
**Grants– 2022 Projects-Total Received to 31 December 2022 & c/fwd to 2023**
**OKMT Total Grants as at 31 December 2022– **Balance c/fwd to 2023
**Joint Community Project– MHPC stakeholders funds– b/fwd**
**Restricted Fund Grants– at close 31 December 2022– C/fwd to 2023**
_Note–Balance Sheet b/fwd -1 Jan 2022 £57,556/ Aggregate Net Movement 2022_
_£21,580_|**2022**
**2022**
**£**
**£**
**Cash Grants**
**Received**
**Utilised/**
**Income**
17,754
(681)
5,767
(267)
5,547
(5,547)
1,490
(1,490)
850
(850)
1,580
(1,580)
7,320
(6,245)
865
(865)
1,315
(1,315)
986
0
2,500
(2,500)
1,815
(1,815)
500
0
1,000
(1,000)
1,400
(1,400)
2,500
(2,500)|**2022**
**£**

**Balance YE**
**31122022**
17,073

5,500

0

0

0

0

1,075

0

0
986

0
0
500

0

0
0| |---|---|---| ||53,189
(28,055)|25,134| ||15,000
(15,000)
1,367
(60)
10,000
(9,485)
10,000
0
5,000
(5,000)
8,000
(6,505)
25,000
(25,000)
5,000
(2,568)
3,000
(2,700)
2,650
(1,160)
885
0
31,500
(30,750)
10,000
(3,739)
15,000
(13,865)
10,000
(7,500)
5,130
(3,105)
1,400
(503)
1,000
(1,000)
1,000
(407)
10,000
(7,471)
1,500
(1,500)
1,500
(1,500)
1,000
0
5,500
0
6,000
0
3,200
(1,180)|0
1,307
515
10,000
0
1,495

0
2,432
300
1,490
885
750

6,261

1,135
2,500
2,025
897
0
593
2,529
0
0
1,000
5,500
6,000
2,020| ||189,632
(139,998)|
49,634| ||242,821
(168,053)|74,768
4,368| ||4,368
0|| |||**79,136**| |||| Page 15 **THE OTAKAR KRAUS MUSIC TRUST** ## **YEAR ENDED 31 DECEMBER 2022** ## **NOTES FORMING PART OF THE FINANCIAL STATEMENTS – continued** ## **11 Funds** ## **Unrestricted Funds: Purposes of unrestricted funds** General unrestricted funds may be used to meet any of the the Charities objectives, as determined by the Trustees. The Designated fund has been set up to support the Charity with its objectives of finding new premises. ## **Restricted Funds: Purpose of Restricted Funds** Individual donors have stipulated that their funds must be used for specific purposes by the charity. OKMT recognises fully trust law restrictions and only draws income from Restricted Funds reserves on a revenue recognition activity based utilisation, matched to specific OKMT projects, ( _Reference Note 1.4_ ). We retain running balances on all individual funds in our Balance sheet. These are backed by cash reserves matching these Restricted Funds reserves at all times. The individual reserves are returnable to donors / grant bodies if required. OKMT agrees all financial year roll over funding with the individual donor / grant organisations. ## **12 Deferred Income** |
|**Grants Received in Quarter 4 2022– for specific 2023 Projects**
Included in Current Liabilities at 31 December 2022:
_(Will be activated as Restricted Funds on 1st January 2023)_
ArtSocial Foundation
BBC Children in Need – Additional Core Support
Richmond Parish Lands Charity
The Barnes Fund
**Total – Prepaid in 2022 – carried forward to 2023 Projects**|**£**
14,225
500
27,500
1,400| |---|---|---| |||43,625| The Deferred Income relates to Grants received in advance by OKMT for 2023 (Restricted Fund) projects. The funders paid funds over in advance to OKMT in late 2022. These are technically a current liability under the terms of the grants offered at the Balance Sheet date and will be transferred to Restricted Funds on 1[st] January 2023. The deferred income is included within accruals and deferred income under creditors at the balance sheet date. ## **13 Analysis of Net Assets between funds** |**Tangible Fixed Assets**
**Current Assets:**
Cash at Bank:
Debtors:
**Current Liabilities:**
**Net Current Assets**
**TOTAL FUNDS**|**Total**
**General**
**Restricted**
**Designated**
**December**
**2022**
**£**
**£**
**£**
**£**
9,913 -
-
9,913
131,285 79,136 25,000
235,421
18,070 -
-
18,070
(57,831)-
-
(57,831)| |---|---| ||91,524
79,136
25,000
195,660| ||| ||101,437 79,136 25,000
205,573| Page 16 **THE OTAKAR KRAUS MUSIC TRUST** ## **YEAR ENDED 31 DECEMBER 2022** **NOTES FORMING PART OF THE FINANCIAL STATEMENTS – continued** ## **14 Tangible Fixed Assets** |**Tangible Fixed Assets**
Cost or Valuation
Brought Forward at 1 January 2022
Additions
At 31 December 2022
Depreciation
Brought Forward at 1 January 2022
Charge for the year
At 31 December 2022
Net Book Values
Brought Forward at 1 January 2022
At 31 December 2022|**Grand**
**Piano**
**Electronic**
**Keyboard &**
**Xylophones**
**Electronic**
**Stage, Sound**
**& Musical Kit**
**Computer**
**Equipment**
**& Laptops**
**Total**
**£**
**£**
**£**
**£**
**£**

7,500
3,265
1,607
946
13,318| |---|---| ||-
-
-
1,318
1,318| ||7,500
3,265
1,607
2,264
14,636| ||
1,063
1,686
887
63
3,699
150
326
161
387
1,024| ||1,213
2,012
1,048
450
4,723| ||
6,437
1,579
720
883
9,619| ||6,287
1,253
559
1,814
9,913| ## **15 Defined Contribution Pension Plans** The charity operates a defined contribution pension plan for its employees/. The amount recognised as an expense in the period was £2,510 (2021 - £5,549) The defined contribution liability is allocated to unrestricted funds. ## **16 Controlling Parties** The charity was under the control of the Trustees during the period. Page 17