||||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|
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||f|orthe Year E|nded 31 March|2023|||
|---|---|---|---|---|---|---|
||||||2023|2022|
||||Unrestricted|Restricted|Total|Total|
|||Notes|fund|fundf|funds
f|fundsf|
|INCOME AND ENDOWMENTS|FROM||||||
|Donations
and legacies|||350,637||350,637|348,922|
|Charitable
activities|||||||
|Music Education|||182,862||182,862|169,305|
|Other trading
activities|||5,069||5,069|1,732|
|Total|||538,568||538,568|519,959|
|EXPENDITURE ON|||||||
|Raising funds|||1,598||1,598|1,903|
|Charitable
activities|||||||
|Music Education|||564,275||564,275|538,644|
|Total|||565,873||565,873|540,547|
|NET INCOME/(EXPENDITURE)|||(27,305)||(27,305)|(20,588)|
|RECONCILIATION
OF FUNDS|||||||
|Total funds brought forward|||211,114||211,114|231,702|
|TOTAL FUNDS CARRIED FORWARD|||183,809||183,809|211,114|
##
||||||2023|2022|
|---|---|---|---|---|---|---|
||||Unrestricted|Restricted|Total|Total|
|||Notes|fund|fund|funds|fundsf|
|FIXEDASSETS|||||||
|Tangible|assets|13|44,197||44,197|71,268|
|CURRENT ASSETS|||||||
|Debtors||14|31,325||31,325|33,784|
|Cash at|bank and in hand||173,489||173,489|180,204|
||||204,814||204,814|213,988|
|CREDITORS|||||||
|Amounts|falling due within one year|15|(65,202)||(65,202)|(74,142)|
|NET CURRENT ASSETS|||139,612||139,612|139,846|
|TOTAL|ASSETSLESSCURRENT|LIABILITIES|183,809||183,809|211,114|
|NET ASSETS|||183,809||183,809|211,114|
|FUNDS||17|||||
|Unrestricted
funds|||||183,809|211,114|
|TOTAL|FUNDS||||183,809|211~114|
##
|||||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|
##
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||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|
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|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|
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|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|
##
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|SUPPORT C|OS|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|
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|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|
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|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|
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|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|
##
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|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|
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|MOVEMENT|IN FUNDS|||||||
|---|---|---|---|---|---|---|---|
|||||||Net||
|||||||movement|At|
||||||At 1.4.22
f|in funds
f|31.3.23
f|
|Unrestricted|funds|||||||
|General fund|||||211,114|(27,305)|183,809|
|TOTAL FUNDS|||||211,114|(27,305)|183,809|
|Net movement|in funds, included|||in the above|are as follows:|||
||||||Incoming|Resources|Movement|
||||||resources
f|expended
f|in funds
f|
|Unrestricted|funds|||||||
|General fund|||||538,568|(565,873)|(27,305)|
|TOTAL FUNDS|||||538,568|(565,873)|(27,305)|
|Comparatives|for movement||in|funds||||
|||||||Net||
|||||||movement|At|
||||||At 1.4.21
f|in funds
f|31.3.22
f|
|Unrestricted|funds|||||||
|General fund|||||231,702|(20,588)|211,114|
|TOTAL FUNDS|||||231,702|(20,588)|211,114|
|Comparative|net movement|in|funds, included||in the above are as follows:|||
||||||Incoming|Resources|Movement|
||||||resources
f|expended
f|in funds
f|
|Unrestricted|funds|||||||
|General fund|||||519,959|(540,547)|(20,588)|
|TOTAL FUNDS|||||519,959|(540,547)|(20,588)|
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