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2021-03-31-accounts

Page
Report ofthe Trustees 1 io 6
Independent
Examiner's		 Report
Statement
of Financial		 Activities
Balance Sheet
Cash Flow Statement 10
Notes to the Cash Flow Statement
Notes to the Financial Statements 12 to 20

f or the Year E nded 31 March 2021
2021 2020
Unrestricted Restricted Total Total
Notes fund
f		 fund
f		 funds funds
INCOME AND ENDOWMENTS FROM
Donations
and legacies		 2 377,970 377,970 497,028
Chaditable
activities
Music Education 181,322 181,322 204,375
Other trading
activities		 51 26,142
Total 559,343 559,343 727,545
EXPENDITURE ON
Raising funds
Charitable
activities
Music Education		 5«,605 5«,605 542,570
Total 5«,671 5«,671 543,515
NET INCOME 47,672 47,672 184,030
RECONCILIATION
OF FUNDS
Total funds brought forward 184,030 184,030
TOTAL FUNDS CARRIED FORWARD 231,702 231,702 184,030

2021 2020
Unrestricted Restricted Total Total
Notes fund fund
6		 funds
6		 fundsf
FIXEDASSETS
Tangible assets 13 108,468 108,468 133,534
CURRENT ASSETS
Debtors 14 11,565 11,565 33,490
Cash at bank and in hand 170,724 170,724 115,835
182,289 182,289 149,325
CREDITORS
Amounts
falling due within one year		 15 (56,155) (56,155) (80,229)
NET CURRENT ASSETS 126,134 126,134 69,096
TOTAL ASSETSLESSCURRENT LIABILITIES 234,602 234,602 202,630
CREDITORS
Amounts
falling due after more than one year		 16 (2,900) (2,900) (18,600)
NET ASSETS 231,702 231,702 184,030
FUNDS 18
Unrestricted
funds		 231,702 184,030
TOTAL FUNDS 231,702 184,030
Swindon
Music
ervice
Cash Flow Statement
for the Year Ended $1 March 2021
2021 2020
Notes 6
Cash flows from operating
activities
Cash generated
from operations		 87,312 253,320
Interest paid (2,646) (2,646)
Net cash provided
by operating
activities		 84,666 250,674
Cash flows from investing activities
Purchase oftangible
fixed assets		 (14,077) (169,139)
Net cash used in investing activities (14,077) (169,139)
Cash flows from financing activities
New loans
in year
Loan repayments
in year		 (15,700) 50,000
(15,700)
Net cash (used in)/provided by financing activities (15,700) 34,300
Change
in cash and cash
the reporting
period		 equivalents in 54,889 115,835
Cash and cash equivalents at the
beginning
ofthe reporting		 period 115,835
Cash and cash equivalents at the end of
the reporting
period		 170,724 115,835

for for
the Year Ended 31March 2021
RECONCILIATION
OF		 NET INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES
2021 2020
Net income for the
Activities)		 reporting period {asper the Statement ofFinancial 47,672 184,030
Adjustments
for:
Depreciation
charges
interest
paid
Decrease/(increase)
(Decrease)fincrease		 in
in		 debtors
creditors		 39,143
2,646
21,925
(24,074)		 35,605
2,646
(33,490)
64,529
Net cash provided
by		 operations 87,312 253,320
ANALYSIS OF CHANGES
IN		 NET FUNDS
At 1.4.20 Cash flow
6		 At31.3.21
f
Net cash
Cash at bank and
in		 hand 115,835 54,889 170,724
115,835 54,889 170,724
Debt
Debts falling due within
Debts falling due after		 1 yeai
1 year		 (15,700)
(18,600)		 15,700 (15,700)
(2,900)
(34,300) 15,700 (18,600)
Total 81,535 70,589 152,124

Grants recei ved,
i		 ncluded
in the above, are as follows:
2021 2020f
Arts Council England 323,979 320,896
SBCCoronavirus Support Grants 42,772
366,751 320,896
OTHER TRADING ACTIVITIES
2021
2		 2020f
Fundraising events 249
Cafe income 51 2,548
Hire ofpremises 23,305
Hire ofinstruments 40
51 26,142

INCOME FROM CHARITA BLE ACTIVITIES
Activity 2021 2020f
Grants Music Education 70,385 7,800
Fees from Schools Music Education 103,430 167,567
Fees from Parents Music Education 7,507 29,008
181,322 204,375
Grants received, included in the above, are as follows:
2021 2020
Swindon
Borough		 Council 6,300 7,800
Coronavirus
Job		 Retention Scheme 64,085
70,385 7,800
RAISING FUNDS
Raising donations
and legacies		 2021
6		 2020f
Cafe costs 66 945
CHARITABLE ACTIVITIES COSTS
Direct Support
Costs (see costs (see
note 7) note 8) Totals
6
Music Education 489,146 22,459 511,605
DIRECT COSTS OF CHARITABLE ACTIVITIES
2021 2020
Staff costs 352,791 402,962
Insurance 16,007 20,403
Light and heat
Telephone		 8,420
1,952		 9,196
2,996
Postage and stationery
Advertising		 3,230
203		 3,232
1,223
Contributions
to Hub partnership		 and other sponsorship 6,800
Freelancers 2,322 4,376
Exam fees (163) 393
Instrument
repairs and consumables		 3,906 2,405
Sheet music 927
Licences 36,805 1,899
Activity weekend 3,538
Travel 1,525
Computer costs
Other costs		 8,512
9,218		 9,673
18,348
Depreciation 39,143 35,605
489,146 518,701

SUPPORT COSTS
Governance
Management
6		 Finance
f		 costs Totals
Music Education 14,937 2,646 4,876 22,459
Support costs, included in the above, are as follows: 2021 2020
Music Total
Education activities
6 6
Legal, HR and consultancy
Interest payable and similar charges
Legal fees -sst up
Accountancy
snd independent
examination		 14,937
2,646
4,876		 5,918
2,646
11,836
3,469
22,459 23,869

STAFF COSTS
2021 2020f
Wages and salaries
Social security costs		 295,816
14,902		 334,714
20,406
Other pension costs 42,073 47,842
352,791 402,962
The average
monthly		 number ofemployees during the year was as follows:
2021 2020
Music teachers 24 24
CEO 1 1
25 25

Notes to the Financial Statements
-continued
for the Year Ended 31 Nlarch 2021		 Notes to the Financial Statements
-continued
for the Year Ended 31 Nlarch 2021
COMPARATIVES
FOR THE STATEMENT OF FINANCIAL ACTIVITIES
Unrestricted Restricted Total
fund fund funds
6
INCOME AND ENDOWMEN fS FROM
Donations
and legacies		 497,028 497,028
Charitable
activities
Music Education 196,575 7,800 204,375
Other trading
activities		 26,142 26,142
Total 719,745 7,800 727,545
EXPENDITURE ON
Raising funds 945 945
Charitable
activities
Music Education 534,770 7,800 542,570
Total 535,715 7,800 543,515
NET INCOME 184,030 184,030
TOTAL FUNDS CARRIED FORWARD 184,030 184,030
GOVERNIIIIENT
GRANT INCOME
2021 2020
8
Arts Council England 323,979 320,896
Swindon
Borough Council		 42,772 7,800
HM Revenue 8 Customs 64,085

for the Y ear En ded 31March 2021
13. TANGIBLE FIXEDASSETS
Fixtures
Music and Computer
equipment
8		 fittings
f		 equipment Totals
2
COST
At 1 April 2020 155,806 13,333 169,139
Additions 6,572 3,351 4,154 14,077
At 31 March 2021 162,378 3,351 17,487 183,216
DEPRECIATION
At 1 April 2020 31,161 4,444 35,605
Charge for year 32,476 838 5,829 39,143
At 31 March 2021 63,637 838 10,273 74,748
NET BOOK VALUE
At 31 March 2021 98,741 2,513 7,214 108,468
At 31 March 2020 124,645 8,889 133,534
14. DEBTORS:AMOUNTS FALLING DUE WITHIN ONE YEAR
2021 2020
f
Trade debtors 6,740 26,201
Prepayments 4,825 7,289
11,565 33,490
15. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2021 2020
8 6
Other loans (see note 17) 15,700 15,700
Trade creditors 2,694 9,082
Social security and other taxes 5,128 8,473
Accruals and deferred income 32,633 46,974
56,155 80,229
At the balance sheet date the charity was holding funds off29,483 (2020:F43,974) received in advance for the
April-July 2021 school term.
16. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2021 2020
f
Other loans (see note 17) 2,900 18,600
17. LOANS
An analysis ofthe maturity of loans is given below:
2021 2020
2 f
Amounts
falling due within		 one year on demand.
Other loans 15,700 15,700
Amounts
falling between		 one and two years:
Other loans -1-2 years 2,900 15,700
Amounts
falling due between		 two end five years:
Other loans -2-5 years 2,900
Pag e 18 continued. ..

MOVEMENT IN FUNDS
Net
movement At
Ai 1.4.20
f		 in funds
f		 31.3.21
f
Unrestricted funds
General fund 184,030 47,672 231,702
TOTAL FUNDS 184,030 47,672 231,702
Net movement in funds, included in the above are as follows:
Incoming Resources Movement
resources
f.		 expended in funds
f
Unrestricted funds
General fund 559,343 (511,671) 47,672
TOTAL FUNDS 559,343 (511,671) 47,672
Comparatlves for movement in funds
Net
movement At
in funds 31.3.20
f
Unrestricted funds
General fund 184,030 184,030
TOTAL FUNDS 184,030 184,030
Comparative net movement in funds, included in the above are as follows
Incoming Resources Movement
resources expended
f		 in funds
f
Unrestricted funds
General fund 719,745 (535,715) 184,030
Restricted funds
Early Years Music Intervention Project 7,800 (7,800)
TOTAL FUNDS 727,545 (543,515) 184,030