## ||||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| ## ## ## ## ##