**REGISTERED CHARITY NUMBER: 1179203**
**Report of the Trustees and**
**Unaudited Financial Statements for the Year Ended 31 March 2025 for Swindon Music Service**
Monahans Chartered Accountants Hermes House Fire Fly Avenue Swindon Wiltshire SN2 2GA
**Swindon Music Service**
|**Contents of the Financial Statements**||||
|---|---|---|---|
|**for the Year Ended 31 March 2025**||||
|||**Page**||
|**Report of the Trustees**|1|to|4|
|**Independent Examiner's Report**||5||
|**Statement of Financial Activities**||6||
|**Balance Sheet**||7||
|**Cash Flow Statement**||8||
|**Notes to the Cash Flow Statement**||9||
|**Notes to the Financial Statements**|10|to|17|
**Swindon Music Service**
## **Report of the Trustees for the Year Ended 31 March 2025**
The trustees present their report with the financial statements of the charity for the year ended 31 March 2025. The trustees have adopted the provisions of 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 1 January 2019).
## **OBJECTIVES AND ACTIVITIES**
## **Objectives and aims**
The objects of the charity are for the public benefit: to advance education particularly (but not exclusively) in relation to music; to advance the arts and culture, particularly (but not exclusively), by promoting and facilitating access to, performances of, and participation in performances of, music; to provide for the recreation of members of the public by providing equipment, facilities and services to them in the interests of social welfare with the object of improving their conditions of life. Nothing in this constitution shall authorise an application of the property of the charity for purposes which are not charitable in accordance with section 7 of the charities and trustee investment (Scotland) act 2005 and section 2 of the charities act (Northern Ireland) 2008.
The Charity aims to create opportunities which will deepen the interests and skills of children and young people from 0 to 18, and families and people of all ages in the community through providing a range of musical and social experiences. Music programmes in local schools will be delivered, supported and facilitated.
## **Public benefit**
The trustees confirm that they have complied with the requirements of section 17 of the Charities Act 2011 to have due regard to the public benefit guidance published by the Charity Commission for England and Wales.
## **ACHIEVEMENTS AND PERFORMANCE**
This year the charity has become a member of a successful consortium bid to the Arts Council England/DfE to become the strategic lead, along with Gloucestershire Music - a department within Gloucestershire County council and The Music Works. The consortium leads the music hub for the geography of Gloucestershire, Swindon and Wiltshire through a collective called GSW Music Hub. The GSW Music Hub has a number of associate delivery partners, along with the three consortium members that it commissions to undertake various projects in school and the local communities.
## **SCHOOLS**
- Whole Class Ensemble Tuition (WCET): - SMS continues to successfully deliver this program to most primary schools. Our annual Needs Analysis confirms this as the most valued aspect of our services. We also offer schools in Wiltshire a portal where they apply for funding to support WCET, schools and then they pay the Associate tutors direct themselves
- Progression Support: We've continued to expanded access to music education through our generous subsidies policy, offering 50-60% cost reductions for children from less privileged backgrounds. Fifty percent (50%) for schools' subsidies where pupils could access instrumental and vocal tuition with the hope that schools would supplement this with some funds from pupil premium. Sixty percent (60%) offered for instrumental and vocal tuition for out-of-school music lessons. This year, schools in Wiltshire can also apply for financial bursaries to help fund instrumental & vocal tuition during the school time.
- Singing Strategy: Our popular school festivals at the Wyvern Theatre have fully rebounded, with schools enthusiastically participating once again. We delivered 5 concerts for KS 1 & 2 children. JTP (one of our delivery partners also delivered a full day's vocal workshop for KS 3 & 4 young people.
- GCSE Music Enhancement: Once again we successfully held a live performance workshop, partnering with the prestigious Bournemouth Symphony Orchestra to support KS3-4 progression. This year saw 7 schools attend with 157 students in attendance.
- Live Music Opportunities: Face-to-face Roadshows are delivered to schools, weekly groups and ensembles also continue to flourish seeing vibrant termly concerts at the Platform.
- There are 14 schools' music clusters in Wiltshire that are coordinated by the Charity through 5 self-employed consultants.
Page 1
**Swindon Music Service**
## **Report of the Trustees for the Year Ended 31 March 2025**
## **COMMUNITY**
- Thriving Ensembles: Swindon Young Musicians has had yet another successful year playing at local events. Since January 2025, we had other music centre's being supported by the Charity such as: Salisbury Area Young Musicians, Wiltshire Young Musicians and a regional youth orchestra and Jazz collective.
- Regional Leadership: We successfully hosted a Music for Youth regional festival, cementing our position as a key southwest centre. This year, once again, saw the Youth Wind Band perform at the National Festival held at Birmingham Symphony Hall organised by Music for Youth.
- Effective Communication: We've maintained strong connections with schools, the community in Swindon, further developed effective communications with Wiltshire schools and local communities
This year demonstrates SMS's resilience, adaptability, and unwavering commitment to providing high-quality, accessible music education to all in our community, as well as taking on the strategic lead for Wiltshire.
## **Swindon Music Service: A Year of Growth and Success**
## **FINANCIAL REVIEW**
## **Financial position and principal funding sources**
The charity has managed to achieve at total of £350,190 reserves to date. Free reserves (excluding fixed assets) of £345,460 have been achieved compared to the fifth-year target of £200k. It has also continued to secure the Department for Education (DfE) grant for music hubs administered through the Arts Council England (ACE).
## **Reserves policy**
The Operating Reserve Fund is defined as the designated fund set aside by action of the trustee board. The minimum amount to be designated as operating reserves will be established as an amount sufficient to maintain ongoing operations and programs for a set period, measured in months. The operating reserve serves a dynamic role and will be reviewed and adjusted in response to internal and external changes. At a board meeting (held on 22nd March 2022), the Board of trustees agreed to adjust the projection to achieve the overall reserve fund to be achieved over an 8-year period as a result of succession planning coming out of the pandemic. During the next year, the board of trustees will review the level of reserves needed due to the extra responsibility the charity has within the consortium partnership. This is because Swindon Music Service is now the strategic lead and musical activities coordinator for Swindon and Wiltshire.
- End of year four £139,612 2022/23 - End of year five £160,000 2023/24
- End of year six £180,000 2024/25
- End of year seven £200,000 2025/26
- End of year eight £220,000 2026/27
The target minimum Operating Reserve Fund is equal to 6-months of average recurring operating costs. The actual calculation of average recurring operating costs is set out in the yearly budget monitoring process. The target of £220k is spread over 8-year period.
On 31 March 2025, the charity held total funds of £350,190 of which £4,730 are held as tangible fixed assets, leaving £345,460 as free reserves. This is above the target of £200k (See statement above about a review needed).
## **Principal risks and uncertainties**
The charity continues to be reliant on the DfE grant to enable it to continue to offer the broad array of musical opportunities to the children and young people of Swindon and Wiltshire. Therefore the reserves fund needs to reflect the high risk being reliant on the DfE grant
## **FUTURE PLANS**
Our future plans are to manage the partnerships arrangements and embed a formal commissioning process ensuring the process is open, transparent and fair within the partnership framework/matrix.
Through the Consortium Executive Team, we will continue to develop the hub's inclusion strategy and to offer grants to local delivery partners to support this strategy - to include opportunities for pupils from financially deprived families to access musical opportunities.
For SMS to develop, it will continue to look for ways in which it can diversify within the scope of its constitution to gain further income.
Page 2
**Swindon Music Service**
## **Report of the Trustees for the Year Ended 31 March 2025**
## **STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document**
The Charity is a Charitable Incorporated Organisation. The governing document is an agreed constitution set out by SMS's lawyers and agreed with the charities commission.
## **Recruitment and appointment of new trustees**
Recruitment:
New trustees are appointed by the current board of trustees. A Job Specification for potential trustees is available.
Appointment:
The selection and appointment is based on achieving a diverse set of skills across the board of trustees. All trustees must agree the appointment of a new trustee and approval is included in the board's minutes.
## **Organisational structure**
The Board of Trustees:
The board oversee the financial budgeting and the services offered by the charity put forward by the Senior Leadership team (SLT) of the charity. The Chief Executive of the charity, a member of the newly formed Consortium Executive Team for the new music hub and is an ex-officio trustee and the chair of the SLT. The Board of Trustees also have several sub-groups that work closer with the SLT:
- Internal Audit sub-group
- HR sub-group
- Finance/Fundraising sub-group
- Public relations/Comms sub-group
The Chief Executive has been delegated the responsibility for the day-to-day running of the charity in collaboration with the SLT.
The charity also has 28 music/instrumental tutors (working through a worker's agreement) that deliver musical services for the charity. These tutors and apprentices are managed by the SLT. In addition, the charity coordinates 135 Wiltshire Associate (self-employed) tutors/organisations and consultants.
## **Induction and training of new trustees**
New trustees receive access to induction materials on our centralised system (Governorhub). Training is offered when needed. There are also opportunities for trustees to attend national music education conferences and/or training. Local training is available through online resources.
## **Key management remuneration**
The senior leadership team were TUPE'd across from the local authority to the new charity where they have pay and conditions through the national HAY pay structure. When any pay increases are announced nationally, the board of trustees will have oversight and will need to agree any further pay awards.
## **Risk management**
The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error.
The trustees confirm that major risks have been reviewed and systems or procedures have been established to manage those risks.
## **REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number**
1179203
## **Principal address**
The Platform Faringdon Road Swindon Wiltshire SN1 5BJ
Page 3
**Swindon Music Service**
## **Report of the Trustees for the Year Ended 31 March 2025**
## **Trustees**
Major P Clark Ex Officio Trustee and CEO R Dolz (Chair) J Haydon (Deputy Chair) E Chan V Ho B Durston L Matthews Dr Anne Sophie Rouziere K Jack - appointed 10 September 2024 D Eaton - Resigned April 2025
## **Independent Examiner**
James Gare FCA DChA Monahans Chartered Accountants Hermes House Fire Fly Avenue Swindon Wiltshire SN2 2GA
## **Senior Management Team**
Major (retd) P Clark - CEO Deputy Head of Music Services - Mrs J Clark Operations Delivery Manager - vacancy
## **Solicitors**
Bates Wells Braithwaite 10 Queen Street Place London EC4R 1BE
## **Bankers**
Metro Bank 1-4 Regent Street Swindon SN1 1JQ
Approved by order of the board of trustees on ............................................. and signed on its behalf by: 08/09/2025
## R G Dolz
........................................................................ R G Dolz (Sep 8, 2025 16:39:22 GMT+1) R Dolz - Trustee
Page 4
## **Independent Examiner's Report to the Trustees of Swindon Music Service**
## **Independent examiner's report to the trustees of Swindon Music Service**
I report to the charity trustees on my examination of the accounts of Swindon Music Service (the Trust) for the year ended 31 March 2025.
## **Responsibilities and basis of report**
As the charity trustees of the Trust 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 Trust's accounts carried out under Section 145 of the Act and in carrying out my examination I have followed all applicable Directions given by the Charity Commission under Section 145(5)(b) of the Act.
## **Independent examiner's statement**
Since your charity's gross income exceeded £250,000 your examiner must be a member of a listed body. I can confirm that I am qualified to undertake the examination because I am a member of the Institute of Chartered Accountants in England and Wales, which is one of the listed bodies.
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 Trust as required by Section 130 of the Act; or 2. the accounts do not accord with those records; or
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.
James Gare FCA DChA
Monahans Chartered Accountants Hermes House Fire Fly Avenue Swindon Wiltshire SN2 2GA
Date: .............................................
Page 5
**Swindon Music Service**
## **Statement of Financial Activities for the Year Ended 31 March 2025**
|Unrestricted
fund
Notes
£
**INCOME AND ENDOWMENTS FROM**
Donations and legacies
2
24,140
**Charitable activities**
4
Music Education
399,735
Other trading activities
3
5,770
**Total**
429,645
**EXPENDITURE ON**
Raising funds
5
2,739
**Charitable activities**
6
Music Education
258,476
**Total**
261,215
**NET INCOME/(EXPENDITURE)**
168,430
**RECONCILIATION OF FUNDS**
Total funds brought forward
181,760
**TOTAL FUNDS CARRIED FORWARD**
350,190|Restricted
funds
£
-
404,831
-
404,831
-
404,831
404,831
-
-
-|2025
Total
funds
£
24,140
804,566
5,770
834,476
2,739
663,307
666,046
168,430
181,760
350,190|2024
Total
funds
£
18,600
556,537
4,822
579,959
1,287
580,721
582,008
(2,049)
183,809
181,760|
|---|---|---|---|
The notes form part of these financial statements
Page 6
**Swindon Music Service**
## **Balance Sheet 31 March 2025**
|Unrestricted
fund
Notes
£
**FIXED ASSETS**
Tangible assets
13
4,730
**CURRENT ASSETS**
Debtors
14
190,841
Cash at bank and in hand
329,740
520,581
**CREDITORS**
Amounts falling due within one year
15
(175,121)
**NET CURRENT ASSETS**
345,460
**TOTAL ASSETS LESS CURRENT LIABILITIES**
350,190
**NET ASSETS**
350,190
**FUNDS**
17
Unrestricted funds
**TOTAL FUNDS**|Restricted
funds
£
-
-
-
-
-
-
-
-|2025
Total
funds
£
4,730
190,841
329,740
520,581
(175,121)
345,460
350,190
350,190
350,190
350,190|2024
Total
funds
£
8,262
17,221
217,975
235,196
(61,698)
173,498
181,760
181,760
181,760
181,760|
|---|---|---|---|
The financial statements were approved by the Board of Trustees and authorised for issue on ............................................. and were signed on its behalf by: 08/09/2025
## R G Dolz
R G Dolz (Sep 8, 2025 16:39:22 GMT+1)
.............................................
R Dolz - Trustee
The notes form part of these financial statements
Page 7
## **Swindon Music Service**
|**Cash Flow Statement**
**for the Year Ended 31 March 2025**
2025
Notes
£
**Cash flows from operating activities**
Cash generated from operations
1
112,081
Net cash provided by operating activities
112,081
**Cash flows from investing activities**
Purchase of tangible fixed assets
(316)
Net cash used in investing activities
(316)
**Change in cash and cash equivalents in**
**the reporting period**
111,765
**Cash and cash equivalents at the**
**beginning of the reporting period**
217,975
**Cash and cash equivalents at the end of**
**the reporting period**
329,740|2024
£
44,533
44,533
(47)
(47)
44,486
173,489
217,975|
|---|---|
The notes form part of these financial statements
Page 8
**Swindon Music Service**
## **Notes to the Cash Flow Statement for the Year Ended 31 March 2025**
## **1. RECONCILIATION OF NET INCOME/(EXPENDITURE) TO NET CASH FLOW FROM OPERATING ACTIVITIES**
|**ACTIVITIES**||||
|---|---|---|---|
|||2025|2024|
|||£|£|
|**Net income/(expenditure) for the reporting period (as per the**||||
|**Statement of Financial Activities)**||168,430|(2,049)|
|**Adjustments for:**||||
|Depreciation charges||3,848|35,982|
|(Increase)/decrease in debtors||(173,620)|14,104|
|Increase/(decrease) in creditors||113,423|(3,504)|
|**Net cash provided by operations**||112,081|44,533|
|**ANALYSIS OF CHANGES IN NET FUNDS**||||
|**Net cash**|At 1.4.24
£|Cash flow
£|At 31.3.25
£|
|Cash at bank and in hand|217,975|111,765|329,740|
||217,975|111,765|329,740|
|**Total**|217,975|111,765|329,740|
## **2. ANALYSIS OF CHANGES IN NET FUNDS**
The notes form part of these financial statements
Page 9
**Swindon Music Service**
## **Notes to the Financial Statements for the Year Ended 31 March 2025**
## **1. ACCOUNTING POLICIES**
## **Basis of preparing the financial statements**
The financial statements of the charity, which is a public benefit entity under FRS 102, 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 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities Act 2011. The financial statements have been prepared under the historical cost convention.
The financial statements have been prepared to give a ‘true and fair view’ and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a ‘true and fair view’. This departure has involved following the 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 (FRS102) issued on 16 July 2014 rather than the Accounting and Reporting by Charities Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn.
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 prepared in sterling which is the functional currency of the charity and rounded to the nearest pound.
The trustees consider that there are no material uncertainties about the Charity’s ability to continue as a going concern.
## **Legal status of the charity and General Information**
The charity is a charitable incorporated organisation (CIO). The registered office address can be found in the Trustees' Report.
## **Critical accounting judgements and key sources of estimation uncertainty**
Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
## Critical accounting estimates and assumptions
The charity makes estimates and assumptions concerning the future. The resulting accounting estimates and assumptions will, by definition, seldom equal the related actual results. There are no critical accounting estimates or assumptions.
## Critical areas of judgement
There are no critical areas of judgement.
## **Income**
Income is recognised when the charity has entitlement to the funds, any performance conditions attached to the item(s) of income have been met, it is probable that the income will be received and the amount can be measured reliably.
For legacies, entitlement is taken as the earlier of the date on which either: the charity is aware that probate has been granted, the estate has been finalised and notification has been made by the executor(s) to the Trust that a distribution will be made, or when a distribution is received from the estate. Receipt of a legacy, in whole or in part, is only considered probable when the amount can be measured reliably and the charity has been notified of the executor’s intention to make a distribution. Where legacies have been notified to the charity, or the charity is aware of the granting of probate, and the criteria for income recognition have not been met, then the legacy is a treated as a contingent asset and disclosed if material.
Income from government and other grants, whether ‘capital’ grants or ‘revenue’ grants, is recognised when the charity has entitlement to the funds, any performance conditions attached to the grants have been met, it is probable that the income will be received and the amount can be measured reliably and is not deferred.
Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the Bank.
Trading income is included in incoming resources in the SOFA and trading costs are included in resources expended. Income represents commissions receivable, excluding value added tax.
Page 10
continued...
**Swindon Music Service**
## **Notes to the Financial Statements - continued for the Year Ended 31 March 2025**
## **1. ACCOUNTING POLICIES - continued**
## **Expenditure**
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:
- Costs of raising funds includes of insert details;
- Expenditure on charitable activities includes insert details; and
- Other expenditure represents those items not falling into the categories above.
Irrecoverable VAT is charged as an expense against the activity for which expenditure arose.
## **Tangible fixed assets**
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Music equipment - 20% on straight line basis Fixtures and fittings - 25% on straight line basis Computer equipment - 33% on straight line basis
Fixed assets costing in excess of £500 are capitalised.
## **Taxation**
The charity is exempt from tax on its charitable activities.
## **Fund accounting**
Unrestricted funds are donations and other income received or generated for the objects of the charity without further specified purpose and are available as general funds.
Designated funds are unrestricted funds earmarked by the Trustees for particular purposes.
Restricted funds are to be used for specified purposes as laid down by the donor which have been raised by the charity for specific purposes. Expenditure which meets these criteria is identified to the fund.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
## **Pension costs and other post-retirement benefits**
Retirement benefits to employees of the Charity are provided by the Local Government Pension Scheme ('LGPS'), a defined benefit scheme, and NEST, a defined contribution scheme.
## **Defined benefit scheme**
Under the transfer agreement from the local authority, the charity's deficit at each actuarial valuation of the Fund is capped at £45,000. The employer's contributions made to the scheme plus the payments made to the local authority as part of the Pension Escrow are charged to the Statement of Financial Activities as incurred.
## **Defined contribution scheme**
The assets of the scheme are held separately from those of the charity in an independently administered fund, NEST. The costs of the defined contribution arrangements are charged as incurred.
## **Donated goods, services and facilities**
Donated goods, services and facilities are recognised as income when the charity has control over the item, any conditions associated with the donated item have been met, the receipt of economic benefit from the use by the charity of the item is probable and that economic benefit can be measured reliably. In accordance with the Charities SORP (FRS 102), general volunteer time is not recognised and refer to the trustees’ annual report for more information about their contribution.
On receipt, donated goods, services and facilities are recognised on the basis of the value of the gift to the charity which is the amount the charity would have been willing to pay to obtain services or facilities of equivalent economic benefit on the open market; a corresponding amount is then recognised in expenditure in the period of receipt.
Goods donated for on-going use by a charity in carrying out its activities are recognised as tangible fixed assets with the corresponding gain recognised as income from donations within the SoFA. Donated vehicles, plant or furniture are recognised as tangible fixed assets when their fair value exceeds the threshold for capitalisation set by the charity’s accounting policy.
Page 11
continued...
**Swindon Music Service**
## **Notes to the Financial Statements - continued for the Year Ended 31 March 2025**
## **1. ACCOUNTING POLICIES - continued**
## **Financial instruments**
The charitable trust only holds basic financial instruments as defined in FRS 102. The financial assets and financial liabilities of the academy trust and their measurement basis are as follows:
Financial assets - trade and other debtors are basic financial instruments and are debt instruments measured at amortised cost. Prepayments are not financial instruments. Amounts due to the charity’s wholly owned subsidiary are held at face value less any impairment.
Cash at bank - is classified as a basic financial instrument and is measured at face value.
Financial liabilities - trade creditors, accruals and other creditors are financial instruments, and are measured at amortised cost. Taxation and social security are not included in the financial instruments disclosure definition. Deferred income is not deemed to be a financial liability, as the cash settlement has already taken place and there is an obligation to deliver services rather than cash or another financial instrument. Amounts due to charity’s wholly owned subsidiary are held at face value less any impairment.
## **Operating leases**
Rentals paid under operating leases are charged to the Statement of Financial Activities as incurred.
## **Redundancy / Termination payments**
Termination benefits are measured at the best estimate of the expenditure required to settle the obligation at the reporting date. If the expected settlement date of the termination payments is 12 months or more after making the provision and the effect would be material, the present value of the obligation is calculated using an appropriate discount rate.
## **2. DONATIONS AND LEGACIES**
|Donations
Membership income
**3.**
**OTHER TRADING ACTIVITIES**
Café and premises hire income
**4.**
**INCOME FROM CHARITABLE ACTIVITIES**
Activity
Grants
Music Education
Fees from Schools
Music Education
Fees from Parents
Music Education
Grants received, included in the above, are as follows:
Arts Council England
Gloucestershire County Council|2025
£
7,609
16,531
24,140
2025
£
5,770
2025
£
542,267
174,591
87,708
804,566
2025
£
137,436
404,831
542,267|2024
£
368
18,232
18,600
2024
£
4,822
2024
£
329,845
148,692
78,000
556,537
2024
£
329,845
-
329,845|
|---|---|---|
Page 12
continued...
**Swindon Music Service**
## **Notes to the Financial Statements - continued for the Year Ended 31 March 2025**
## **5. RAISING FUNDS**
## **Raising donations and legacies**
|2025
£
Café costs
2,739
**6.**
**CHARITABLE ACTIVITIES COSTS**
Direct
Support
Costs (see
costs (see
note 7)
note 8)
£
£
Music Education
634,420
28,887
**7.**
**DIRECT COSTS OF CHARITABLE ACTIVITIES**
2025
£
Staff costs
413,279
Rent
20,000
Insurance
23,970
Light and heat
14,298
Telephone
3,741
Postage and stationery
5,467
Advertising
2,060
Tuition bursaries and grants paid
53,991
Freelancers
18,015
Exam fees
1,043
Instrument repairs and consumables
5,338
Licences
13,958
Computer costs
11,406
Other costs
44,005
Depreciation
3,849
634,420
**8.**
**SUPPORT COSTS**
Governance
Management
costs
£
£
Music Education
23,507
5,380
Support costs, included in the above, are as follows:
2025
Music
Education
£
Legal, HR and consultancy
23,507
Accountancy and independent examination
5,380
28,887|2024
£
1,287
Totals
£
663,307
2024
£
403,123
20,000
19,921
10,233
1,726
2,825
614
7,122
4,757
947
2,996
14,652
7,537
33,943
35,982
566,378
Totals
£
28,887
2024
Total
activities
£
9,001
5,342
14,343|
|---|---|
Page 13
continued...
**Swindon Music Service**
## **Notes to the Financial Statements - continued for the Year Ended 31 March 2025**
## **9. TRUSTEES' REMUNERATION AND BENEFITS**
The Ex Officio Trustee, P Clark, is employed by the Charity, as per the Charity's constitution, as Chief Executive Officer, and earned gross salary of £55,663 (2024: £55,592) and employers pension contribution of £6,736 (2024: £10,118).
There were no other trustees' remuneration or other benefits for the year ended 31 March 2025 nor the year ended 31 March 2024.
## **Trustees' expenses**
There were no trustees' expenses paid for the year ended 31 March 2025 nor for the year ended 31 March 2024.
## **10. STAFF COSTS**
|Wages and salaries
Social security costs
Other pension costs
The average monthly number of employees during the year was as follows:
Music teachers
CEO||2025
£
369,555
21,606
22,118
413,279
2025
31
1
32||2024
£
359,787
19,707
23,629
403,123
2024
27
1
28|
|---|---|---|---|---|
No employees received emoluments in excess of £60,000.
The key management personnel of the charity comprise the Trustees and the senior management personnel as listed on page 2. The total employee benefits of the key management personnel of the charity were £127,480 (2024 : £141,153).
## **11. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES**
|Unrestricted
fund
£
**INCOME AND ENDOWMENTS FROM**
Donations and legacies
18,600
**Charitable activities**
Music Education
556,537
Other trading activities
4,822
**Total**
579,959
**EXPENDITURE ON**
Raising funds
1,287
**Charitable activities**
Music Education
580,721
**Total**
582,008
**NET INCOME/(EXPENDITURE)**
(2,049)|Restricted
funds
£
-
-
-
-
-
-
-
-|Total
funds
£
18,600
556,537
4,822
579,959
1,287
580,721
582,008
(2,049)|
|---|---|---|
Page 14
continued...
**Swindon Music Service**
## **Notes to the Financial Statements - continued for the Year Ended 31 March 2025**
## **11. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued**
|**COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued**|**COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued**|||
|---|---|---|---|
|Unrestricted
fund
£
**RECONCILIATION OF FUNDS**
Total funds brought forward
183,809
**TOTAL FUNDS CARRIED FORWARD**
181,760
**GOVERNMENT GRANT INCOME**||Restricted
funds
£
-
-|Total
funds
£
183,809
181,760|
|Arts Council England
Gloucester County Council|2025
2024
£
£
137,436
329,845
404,831
-|||
## **12. GOVERNMENT GRANT INCOME**
There were no unfulfilled conditions or other contingencies attached to these grants. The charity has not directly benefited from any other forms of government assistance other than Swindon Borough Council have agreed to cap the charity's LGPS liability at £45,000 (see note 18).
## **13. TANGIBLE FIXED ASSETS**
|Music
equipment
£
**COST**
At 1 April 2024
174,556
Additions
44
At 31 March 2025
174,600
**DEPRECIATION**
At 1 April 2024
166,294
Charge for year
3,759
At 31 March 2025
170,053
**NET BOOK VALUE**
At 31 March 2025
4,547
At 31 March 2024
8,262
**DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
Trade debtors
Prepayments|Fixtures
and
fittings
£
3,351
272
3,623
3,351
89
3,440
183
-|Computer
equipment
£
18,186
-
18,186
18,186
-
18,186
-
-
2025
£
155,629
35,212
190,841|Totals
£
196,093
316
196,409
187,831
3,848
191,679
4,730
8,262
2024
£
15,033
2,188
17,221|
|---|---|---|---|
## **14. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
Page 15
continued...
**Swindon Music Service**
## **Notes to the Financial Statements - continued for the Year Ended 31 March 2025**
## **15. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
|Trade creditors
Social security and other taxes
Accruals and deferred income|2025
£
39,508
6,969
128,644
175,121|2024
£
886
8,163
52,649
61,698|
|---|---|---|
At the balance sheet date the charity was holding funds of £124,324 (2024: £48,821) received in advance for the April-July 2025 school term.
## **16. LEASING AGREEMENTS**
Minimum lease payments under non-cancellable operating leases fall due as follows:
|Within one year
Between one and five years
**MOVEMENT IN FUNDS**
**Unrestricted funds**
General fund
**TOTAL FUNDS**
Net movement in funds, included in the above are as follows:
**Unrestricted funds**
General fund
**Restricted funds**
Music education services
**TOTAL FUNDS**
**Comparatives for movement in funds**
**Unrestricted funds**
General fund
**TOTAL FUNDS**|At 1.4.24
£
181,760
181,760
Incoming
resources
£
429,645
404,831
834,476
At 1.4.23
£
183,809
183,809|2025
2024
£
£
20,000
20,000
56,667
76,667
76,667
96,667
Net
movement
At
in funds
31.3.25
£
£
168,430
350,190
168,430
350,190
Resources
Movement
expended
in funds
£
£
(261,215)
168,430
(404,831)
-
(666,046)
168,430
Net
movement
At
in funds
31.3.24
£
£
(2,049)
181,760
(2,049)
181,760|
|---|---|---|
## **17. MOVEMENT IN FUNDS**
Page 16
continued...
**Swindon Music Service**
## **Notes to the Financial Statements - continued for the Year Ended 31 March 2025**
## **17. MOVEMENT IN FUNDS - continued**
Comparative net movement in funds, included in the above are as follows:
|**Unrestricted funds**
General fund
**TOTAL FUNDS**|Incoming
resources
£
579,959
579,959|Resources
Movement
expended
in funds
£
£
(582,008)
(2,049)
(582,008)
(2,049)|
|---|---|---|
Music education services - funding from Gloucestershire County Council as part of the Arts Council England funding for the delivery of music education services in the Swindon, Wiltshire and Gloucestershire area.
## **18. EMPLOYEE BENEFIT OBLIGATIONS**
The pension cost charge representing contributions payable by the charity to NEST amounted to £4,737 (2024: £3,763). At 31 March 2025, contributions of £Nil (2024: £NIL) were payable.
The pension cost charge representing contributions payable by the charity to the LGPS amounted to £17,382 (2024: £19,866). At 31 March 2025, contributions of £Nil (2024: £NIL) were payable.
## **Pension Escrow**
The transfer agreement with Swindon Borough Council (SBC) included an escrow that caps the charity's liability to exit the LGPS scheme at £45,000. If the liability to exit the scheme is lower than £45k then the charity will receive the remainder.
In previous years, the Charity paid the sum of £45,000 over to SBC over a three year period commencing 1 April 2019 in quarterly instalments. The payments were recognised as an expense in the statement of financial activities upon payment.
## **19. RELATED PARTY DISCLOSURES**
The spouse of Ex Officio Trustee and Chief Executive Officer P Clark, is employed by the charity as singing champion/early years manager and was paid gross salary of £43,106 (2024: £44,406) and employers pension contributions of £10,645 (2024: £8,082).
Page 17
## sms for signing[40]
Final Audit Report
2025-09-08
Created: 2025-09-08 By: Peter Clark (pclark@smscio.co.uk) Status: Signed Transaction ID: CBJCHBCAABAAj127kCAJSsdp-cAyjDWMi15DWtnVtr7g
## "sms for signing[40]" History
Document created by Peter Clark (pclark@smscio.co.uk)
2025-09-08 - 13:53:30 GMT- IP address: 51.219.164.62
## Document emailed to r.dolz@btinternet.com for signature
2025-09-08 - 13:55:54 GMT
## Email viewed by r.dolz@btinternet.com
2025-09-08 - 15:37:10 GMT- IP address: 5.81.86.233
- Signer r.dolz@btinternet.com entered name at signing as R G Dolz
2025-09-08 - 15:39:20 GMT- IP address: 5.81.86.233
## Document e-signed by R G Dolz (r.dolz@btinternet.com)
Signature Date: 2025-09-08 - 15:39:22 GMT - Time Source: server- IP address: 5.81.86.233
## Agreement completed.
2025-09-08 - 15:39:22 GMT