2023-03-31-accounts - Swindon Music Service

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			Page
Report ofthe Trustees		1	to	5
independent Examiner's	Report
Statement of Financial	Activities
Balance Sheet
Cash Flow Statement
Notes tothe Cash Flow	Statement		10
Notes tothe Financial Statements		11	to	19

				Swindon Music Service
				Cash Flow Statement
				forthe Year Ended 31 March	2023
					2023	2022
				Notes		F
Cash flows from	operating		activities
Cash generated from operations					3,572	30,322
Interest paid						301
Net cash provided	by operating activities				3,572	30,623
Cash flows from	investing		activities
Purchase oftangible fixed assets					(10,287)	(2,543)
Net cash used in	investing	activities			(10,287)	(2,543)
Cash flows from	financing		activities
Loan repayments	in year					(18,600)
Net cash provided	byi(used		in) financing	activities		(18,600)
Change in cash	and cash		equivalents	in
the reporting period					(6,715)	9,480
Cash and cash equivalents			at the
beginning ofthe	reporting		period		180,204	170,724
Cash and cash equivalents			at the end	of
the reporting period					173,489	180,204

	Notes to the Cash Flow Statement forthe Year Ended 31 March 2023	Notes to the Cash Flow Statement forthe Year Ended 31 March 2023	Notes to the Cash Flow Statement forthe Year Ended 31 March 2023
RECONCILIATION	OF NET EXPENDITURE TO NET CASH FLOW FROM			OPERATING ACTIVITIES
				2023	2022
Net expenditure for		the reporting	period (as per the Statement of
Financial Activities)				(27,305)	(20,588)
Adjustments for:
Depreciation charges				37,358	39,744
Interest paid					(301)
Decrease/(increase)		in debtors		2,459	(22,219)
(Decrease)/increase		in creditors		(8,940)	33,686
Net cash provided	by operations			3,572	30,322

ANALYSIS OF CHANGES IN NET FUNDS
	At 1.4.22	Cash flow	At 31.3.23
		P
Net cash
Cash at bank and in hand	180,204	(6,715)	173,489
	180,204	(6,715)	173,489
Total	180,204	(6,715)	173,489

INCOME F	R	OM CHARITABLE	ACTIVITIES
			Activity			2023 E	2022f
Grants			Music Education				9,459
Fees from Schools			Music Education			136,908	117,190
Fees from Parents			Music Education			45,954	37,081
Other income			Music Education				5,575
						182,862	169,305
Grants received, included in the			above, are as follows:
						2023	2022
Coronavirus		Job Retention Scheme					9,459
RAISING FUNDS
Raising donations and legacies
						2023 F	2022f
Cafe costs						1,598	1,903
CHARITABLE ACTIVITIES COSTS
					Direct	Support
					Costs (see	costs (see
					note 7) f	note 8) f	Totals F
Music Education					554,417	9,858	564,275
DIRECT COSTS OF CHARITABLE ACTIVITIES
						2023	2022
							E
Staffcosts						391,061	401,630
Rent						20,000	3.233
Insurance						19,753	26,367
Light and heat						7,708	10,658
Telephone						1,661	1,424
Postage and		stationery				2,427	2,741
Advertising						2,418	1,945
Contributions		to Hub partnership	and other sponsorship	and grants	paid	3,438	4,800
Freelancers						1,385	3,464
Exam fees						549	381
Instrument	repairs and consumables					3,104	1,398
Licences						15,271	4,134
Computer costs						7,605	15,666
Other costs						40,679	12,919
Depreciation						37,358	39,744
						554,417	530,504

SUPPORT C	TS
					Governance
				Management f	costs F	Totals F
Music Education				5,146	4,712	9,858
Support costs, included		in the	above, are as follows:
					2023	2022
					Music	Total
					Education	activities
						F
Legal, HR and consultancy					5,146	5,098
Interest payable Accountancy and	and similar charges independent examination				4,712	(301) 3,343
					9,858	8,140

STAFFCOSTS
			2023	2022
			F
Wages and salaries			346,955	342,379
Social security costs			19,450	19,068
Other pension costs			24,656	40,183
			391,061	401,630
The average monthiy	number ofemployees	during the year was as follows:
			2023	2022
Music teachers			27	26
CEO			1	1
			28	27

Notes to the Financial Statements -continued forthe Year Ended 31 March 2023	Notes to the Financial Statements -continued forthe Year Ended 31 March 2023	Notes to the Financial Statements -continued forthe Year Ended 31 March 2023	Notes to the Financial Statements -continued forthe Year Ended 31 March 2023
COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
			Unrestricted	Restricted	Total
			fund E	fund f	funds f
INCOME AND ENDOWMENTS		FROM
Donations and legacies			348,922		348,922
Charitable activities
Music Education			169,305		169,305
Other trading activities			1,732		1,732
Total			519,959		519,959
EXPENDITURE ON
Raising funds			1,903		1,903
Charitable activities
Music Education			538,644		538,644
Total			540,547		540,547
NET INCOMEl(EXPENDITURE}			(20,588)		(20,588)
RECONCILIATION OF FUNDS
Total funds brought forward			231,702		231,702
TOTAL FUNDS CARRIED FORWARD			211,114		211,114
GOVERNMENT GRANT INCOME
			2023		2022
			F		F
Arts Council England			328,586		327,031
Swindon Borough Council					4,000
HM Revenue &Customs					10,459
Education and skills funding	agency				1,000

TANGIBLE FIXEDASSE	TS
			Fixtures
		Music	and	Computer
		equipment f	fittings F	equipment f	Totals f
COST
At 1 April 2022		164,222	3,351	18,186	185,759
Additions		10,287			10,287
At 31 March 2023		174,509	3,351	18,186	196,046
DEPRECIATION
At 1 April 2022		96,481	1,675	16,335	114,491
Charge foryear		34,902	838	1,618	37,358
At 31 March 2023		131,383	2,513	17,953	151,849
NET BOOK VALUE
At 31 March 2023		43,126	838	233	44,197
At 31 March 2022		67,741	1,676	1,851	71,268
DEBTORS:AINOUNTS FALLING DUE WITHIN ONE YEAR
				2023 f	2022 F
Trade debtors				19,937	14,440
Accrued income					5,575
Prepayments				11,388	13,769
				31,325	33,784
CREDITORS: AINOUNTS	FALLING DUE	WITHIN ONE YEAR
				2023	2022 f
Trade creditors				1,065	22,807
Social security and other Other creditors	taxes			8,747 3,606	7,902 3,314
Accruals and deferred income				51,784	40,119
				65,202	74,142

Minimum lease payments under non-cancellable operatin	g leases fall due as follows:
	2023 F	2022 f
Within one year Between one and five years In more than five years	20,000 80,000 16,668	20,000 80,000 36,667
	116,668	136,667