|||Page|| |---|---|---|---| |Reference and Administrative
Details|||| |Report ofthe Trustees|2|to|6| |Report ofthe Independent
Auditors|7|to|9| |Statement ofFinancial Activities||10|| |Balance Sheet|||| |Cash Flow Statement||12|| |Notes to the Cash Flow Statement||13|| |Notes to the Financial Statements|14|to|26| |Detailed Statement ofFinancial Activities|27|to|28| ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ||||||2021|2020| |---|---|---|---|---|---|---| ||||Unrestricted|Restricted|Total|Total| ||||funds|funds|funds|funds| |||Notes|6|5|2|| |INCOME AND ENDOWMENTS|FROM|||||| |Donations and legacies|||151,075|1,094,710|1,245,785|1,207,923| |Charitable
activities||||||| |Music Education|||295,785|5,349|301,134|904,964| |Arts Development|||10,840|23,203|34,043|37,348| |Other income|||236,638||236,638|| |Total|||694,338|1,123,262|1,817,600|2,150,235| |EXPENDITURE ON||||||| |Charitable
activities||||||| |Music Education
Arts Development|||658,593
121,783|805,114
86,'175|1,463,707
187,938|1,646,299
174,239| |Festivals|||8,195|282,374|290,569|212,877| |Total|||788,551|1,153,663|1,942,214|2,033,415| |NET INCOME/(EXPENDITURE)|||(94,213)|(30,401)|(124,614)|116,820| |Transfers between funds||19|~3941|~3,941)||| |Net movement
in funds|||(90,272)|(34342)|(124,614)|116,820| |RECONCILIATION
OF FUNDS||||||| |Total funds brought forward|||1,201,391|105,939|1,307,330|1,190,510| |TOTAL FUNDS CARRIED FORWARD|||1,111,119|71597|1,182,716|1,307,330| ## |||31st|
INarch 2021|||| |---|---|---|---|---|---|---| ||||||2021|2020| ||||Unrestricted|Restricted|Total|Total| ||||funds|funds|funds|funds| |||Notes|6|6|6|| |FIXEDASSETS||||||| |Tangible assets||13|492,005|6,950|498,955|528,263| |CURRENT ASSETS||||||| |Debtors: amounts|falling due within one year|14|158,396|24,346|182,742|298,917| |Cash at bank and|in hand||891,367|50,156|941,523|984,730| ||||1,049,763|74,502|1,124,265|1,283,647| |CREDITORS||||||| |Amounts
falling due within one year||15|(154,461)|(9,854)|(164,315)|(261,722)| |NET CURRENT ASSETS|||~895302|~64648||1,021,925| |TOTAL ASSETS|LESSCURRENT LIABILITIES||1,387,307|71,598|1,458,905|1,550,188| |CREDITORS||||||| |Amounts
falling due after more than one year||15|(276,189)||(276,189)|(242,858)| |NET ASSETS|||1,111,118|71,598|1,182,716|1,307,330| |FUNDS||19||||| |Unrestricted
funds
Restricted funds|||||1,111,118
~71598|1,201,391
105,939| |TOTAL FUNDS|||||1,182,716|1,307,330| ## ## ||||Cash Flow
for the Year Ended|Statement
31stMarch 2021|| |---|---|---|---|---|---| |||||2021|2020| ||||Notes|6|6| |Cash flows from operating||activities|||| |Cash generated
from operations
Interest
paid||||4,245
~6,334|59,029
~17,071)| |Net cash (used in)/provided||by operating|activities|~2,129)|51,958| |Cash flows from investing||activities|||| |Purchase oftangible
fixed assets||||(17,266)|(40,205)| |Sale oftangible
fixed assets|||||240| |Net cash used in investing|activities|||~17266)|~39,965)| |Cash flows from financing
WCC loan repayments||activities||23,812|~57142)| |Net cash used in financing|activities|||~23,812)|~57,142)| |Change
in cash and cash||equivalents|In||| |the reporting
period||||(43,207)|(45,149)| |Cash and cash equivalents||atthe|||| |beginning
ofthe reporting||period||984,730|1,029,879| |Cash and cash equivalents||atthe end|of||| |the reporting
period||||941,523|984730| ## ## ## ## ## ## ## |ACTIVITIES||||||||| |---|---|---|---|---|---|---|---|---| ||||||||2021|2020| ||||||||6|| |Net (expenditure)/income|||for the reporting|period|(as per the|||| |Statement ofFinancial Activities)|||||||(124,614)|116,820| |Adjustments|for:|||||||| |Depreciation|charges||||||46,574|44,842| |Loss on disposal offixed assets||||||||5,988| |Interest
paid|||||||6,374|17,071| |Decrease/(increase)
Decrease
in creditors||in debtors|||||116,175
~40,264|(112,303)
~3,389)| |Net cash provided||by operations|||||~4245|69,029| |ANALYSIS OF CHANGES|||IN NET FUNDS|||||| ||||||||Other|| ||||||||non-cash|| |||||At 1,4.20||Cash flow|changes|At 31.3.21| |||||||6|5|| |Net cash||||||||| |Cash at bank||||||||| |and in hand||||984,730||43207||~941 523| |||||984,730||43,207||941,523| |Debt||||||||| |Debts falling|due|||||||| |within
1 year|||||(57,143)|23,812|33,331|| |Debts falling|due|||||||| |after 1 year||||~242 858|||~33331|~276,189| |||||~300,001||23,812||{276,189)| |Total||||684,729||19,395||~665334| ## ## ## ## ## ## ## ## ## ## ## ## ## ## |DIRECT COST|S OF CHARITABLE ACTIVITIES||| |---|---|---|---| |||2021f|2020f| |Staff costs||1,422,836|1,423,461| |Subcontracted|staff costs|13,738|3,104| |Instrument
consumables||141|5,374| |Workshop
expenditure||103|3,170| |External funding|and bursary|27,143|25,641| |Project costs||193,956|165,138| |||1,657,917|1,625,888| ## |SUPPORT|COSTS|||||||| |---|---|---|---|---|---|---|---|---| ||||||||Governance|| |||||Management
f||Finance
f|costs|Totals
f| |Music Education||||221,695||1,328|6,306|229,329| |Arts Development
Festivals||||47,845
~2925|||106
~4092|47,951
7,017| |||||272,465||1,328|10,504|284,297| |Support costs, included||in the|above, are as|follows:||||| ||||||||2021|2020| ||||Music|Arts|||Total|Total| ||||Education|Development
f||Festive Is|activities
f|activities
f| |Rates and water|||2,582||152|1,104|3,838|2,822| |Insurance
Light and heat|||6,298
4,535||418
266|2,694
1,940|9,410
6,741|8,704
8,'766| |Telephone|||5,225||469|2,235|7,929|7,310| |Advertising|||11,127|2,579||1,576|15,282|36,019| |Sundries|||10,757|||337|11,094|5,692| |Service Charges|||9,381||551|4,013|13,945|9,914| |Rent|||28,806|2,108||12.322|43,236|43,137| |Travel Expenses|||13,424||||13,424|81,705| |ITExpenses|||49,788|2,022||2,708|54,518|51,222| |Legal, HR and Professional|||2,313||136|989|3,438|14,773| |Accountancy|and Payroll||9,429||555|4,042|14,026|5,310| |Recruitment|Costs|||||||4,427| |Conference|Costs||370||||370|2,124| |Subscriptions|||2,145|1,404||1,770|5,319|1,739| |Board Costs|||819|||15|834|1,148| |Premises Costs|||3,742||220|1,601|5,563|14,603| |CPD Costs|||8,530||51||8,581|6,709| |Venue
Hire|||22||||22|21,118| |Safeguarding|Costs||1,105||195||1,300|5,796| |Postage and|Stationary||435||26|186|647|2,560| |Depreciation|oftangible|and||||||| |heritage assets|||46,574||||46,574|44,842| |Loss on sale|oftangible|||||||| |Axed assets||||||||5,988| |Interest payable and similar||||||||| |charges|||4,288||252|1,834|6,374|17,071| |Bank charges|||1,328||||1,328|| |Auditors'
remuneration|||6,306||106|4,092|10,504|4,030| ||||229,329|11,510||43,458|~284 297|~407 527| ## ## ## ## ## ||||||||2021|2020| |---|---|---|---|---|---|---|---|---| ||||||Unrestricted|Restricted|Totai|Total| ||||||funds|funds|funds|funds| ||||||E|6|6|| |Donations|||||1,799|3,540|5,339|2,435| |Grants|||||149,276|1,091,170|1,240,446|1,205,488| ||||||151,075|1,094,710|1,245,785|1,207,923| |Grants received,|included|||in the above, are as|follows:|||| ||||||||2021|2020| |||||||||2| |Music Education|Grant||||||736,780|738,225| |Worcestershire|County||Council Funding||||143,404|108,693| |Cultural
Development|||Fund Grants||||236,950|290,864| |Arts Council England|||||||56,242|32,808| |The National
Foundation||||for Youth Music|||24,915|| |West Merica Police|||||||20,000|20,000| |Without Walls Consortium
Other Grants||||Ltd|||4,150
~18005|14,898| ||||||||1,240,446|1,205,488| |INCONIE FROM|CHARITABLE ACTIVITIES|||||||| ||||||||2021|2020| ||||||Music|Arts|Total|Total| ||||||Education|Development|activities|activities| ||||||||8|| |Sundry parent income|||||210||210|27,852| |CPD income||||||||1,530| |Event income||||||||8,773| |Project income|||||5,139|34,043|39,182|35,641| |Resources|||||14,025||14,025|27,135| |Tuition|||||277,035||277,035|809,282| |Subscriptions|||||4,643||4,643|24,160| |Concerts|||||82||82|5,810| |Rent and workshop||income||||||2,129| ||||||301,134|34,043|335,177|942,312| |CHARITABLE ACTIVITIES COSTS||||||||| |||||||Direct|Support|| |||||||Costs (see|costs (see|| |||||||note 6)
F|note 7)
f|Totals
6| |Music Education||||||1,234,378|229,329|1,463,707| |Arts Development
Festivals||||||139,987
~283552|47,951
7,017|187,938
~290569| |||||||1,657,917|284,297|1,942,214| ## ## ## ## |COMPARATIVES FOR THE STATEMENT OF FINANCIAL|COMPARATIVES FOR THE STATEMENT OF FINANCIAL|COMPARATIVES FOR THE STATEMENT OF FINANCIAL|COMPARATIVES FOR THE STATEMENT OF FINANCIAL|COMPARATIVES FOR THE STATEMENT OF FINANCIAL|ACTIVITIES||| |---|---|---|---|---|---|---|---| ||||||Unrestricted|Restricted|Total| ||||||funds|funds|funds| ||||||6|6|8| |INCOME AND ENDOWMENTS|||FROM||||| |Donations and legacies|||||8,926|1,198,997|1,207,923| |Charitable
activities|||||||| |Music Education|||||904,964||904,964| |Arts Development|||||16,329|21,019|37,348| |Total|||||930,219|1,220,016|2,150,235| |EXPENDITURE ON|||||||| |Charitable
activities|||||||| |Music Education|||||514,180|1,132,119|1,646,299| |Arts Development|||||163,186|11,053|174,239| |Festivals|||||202,794|10,083|212,877| |Total|||||880,160|1,153,255|2,033,415| |NET INCOME|||||50,059|66,761|116,820| |RECONCILIATION|OF FUNDS||||||| |Total funds brought||forward|||1,151,332|39,178|1,190,510| |TOTAL FUNDS CARRIED FORWARD|||||1,201,391|105,939|1,307,330| |TANGIBLE FIXEDASSETS|||||||| |||||Fixtures|||| |||||and|Motor|Computer|| ||||Instruments|fittings|vehicles|equipment|Totals| ||||8|8|6|8|6| |COST|||||||| |At 1st April 2020|||499,499|71,719|3,500|39,191|613,909| |Additions|||2,885|4,659|6,600|3,122|17,266| |At 31st March 2021|||502,384|76,378|10,100|42,313|631,175| |DEPRECIATION|||||||| |At 1stApril 2020
Charge for year|||64,384
28,554|13,801
~8086|1,050
~1470|6,411
~8464|85,645
46,574| |At 31st March 2021|||92,938|21,887|2,520|14,875|132,220| |NET BOOK VALUE|||||||| |At 31stMarch 2021|||409,446|54,491|7,580|27,438|498,955| |At 31stMarch 2020|||435,115|57,918|2,450|32,780|528,263| ## ## ## ## ## ## ## ## |One tru|stee was reim|bursed
travel expense|s off654 in the year (2020:one trus|tee f1,088).|| |---|---|---|---|---|---| |STAFF|COSTS||||| |||||2021|2020| |||||8|2| |Wages|and salaries|||1,142,918|1,130,485| |Social security costs||||78,562|74,852| |Other pension costs||||201,356|218,124| |||||1,422,836|1,423,461| |The average
monthly||number ofemployees|during the year was as follows:||| |||||2021|2020| |Average|numberofe|mployees||84|81| ## ## |MOVEMENT
IN|FU|NDS|||||| |---|---|---|---|---|---|---|---| ||||||Net|Transfers|| ||||||movement|between|At| |||||At 1.4.20|in funds
f|funds|31.3.21
2| |Unrestricted
funds|||||||| |General
fund||||436,932|(93,810)|(17,690)|325,432| |Designated
Funds||||300,000|||300,000| |Assets transferred|from Worcestershire||||||| |County Council||||464,459|(37,925)|21,631|448,165| |WCC Arts Connect|||||||| ||||||37,521||37,521| |||||1,201,391|(94,214)|3,941|1,111,118| |Restricted funds|||||||| |Music Education|Grant||||2,885|(2,885)|| |Inspiring
Future Through|||The Arts|468|10,164||10,632| |Worcestershire
Arts||Partnership||636|(956)|320|| |Cultural
Educational||Programme||3,628|1,642||5,270| |Bursary Fund||||2,098|3,485|(2,238)|3,345| |Cultural
Development||Fund||79,718|(73,517)|862|7,063| |Space Hive||||17,391|(5,548)||11,843| |Worcestershire
Children's|||Fimt|2,000|(2,000)||| |Furthering
Talent|||||7,724||7,724| |Youth Music|||||25,456||25,456| |Sundry
Restricted|Donations||||265||265| |||||105,939|(30,400)|~3,941)|71,598| |TOTAL FUNDS||||1,307,330|~124,614)||1,182,716| |Net movement
in|funds,||included|in the above are as follows:|||| ||||||Incoming|Resources|Movement| ||||||resources|expended|in funds
f| |Unrestricted
funds|||||||| |General
fund|||||535,082|(628,892)|(93,810)| |Assets transferred|from Worcestershire||||||| |County Council||||||(37,925)|(37,925)| |WCC Arts Connect|||||||| ||||||159,256|~121735|~37521| ||||||694,338|(788,552)|(94,214)| |Restricted funds|||||||| |Music Education|Grant||||736,781|(733,896)|2,885| |Inspiring
Future Through|||The Arts||20,467|(10,303)|10,164| |Worcestershire
Arts||Partnership|||(10)|(946)|(956)| |Cultural
Educational
Bursary Fund||Programme|||4,000
3,485|(2,358)|1,642
3,485| |Cultural
Development||Fund|||261,332|(334,849)|('73,517)| |Space Hive|||||199|(5,747)|(5,548)| |Arts Council TPS|Grant||||56,242|(56,242)|| |Worcestershire
Children's|||First|||(2,000)|(2,000)| |Furthering
Talent|||||13,920|(6,196)|7,724| |Youth Music|||||26,581|(1,125)|25,456| |Sundry Restricted|Donations||||265||265| ||||||~1123262|1153662|30,400| |TOTALFUNDS|||||1,817,600|J1,942,214)|124,614| ## ## ## ## |DEBTORS:AMOUNT|S
F|ALLING DUE WITHIN ONE YEAR||| |---|---|---|---|---| ||||2021|2020| ||||6|8| |Trade debtors|||14,768|48,614| |Prepayments
and accrued||income|167,974|250,303| ||||~182742|298,917| |CREDITORS: ANIOUNTS||FALLING DUE WITHIN ONE YEAR||| ||||2021
8|2020
f| |Other loans (see note|17)|||57,143| |Trade creditors|||22,791|8,245| |Social security and other taxes|||18,219|21,770| |Other creditors|||22,439|25,018| |Accruals and deferred|income||100,866|149,546| ||||164,315|261,722| ## ## ## |2021|2020| |---|---| |8|5| |276,189|242,858| ## ## |instalment|s,
is|as follows:|||| |---|---|---|---|---|---| |||||2021
6|2020f| |Amounts|falling|due within|one year||57,143| |Amounts
Amounts|falling
falling|between
one and five years
due in more than five yearn||228,571
~47618|228,572
14,286| |||||276,189|300,001| ## ## ## ## ## ## ## ## ## ## ## ## |Comparatives
for m|o|ve|m|ent
in fun|ds||||| |---|---|---|---|---|---|---|---|---|---| ||||||||Net|Transfers|| ||||||||movement|between|At| |||||||At 1.4.19|in funds
f|funds
f|31.3.20
F| |Unrestricted
funds|||||||||| |General fund||||||353,727|83,205||436,932| |Designated
Funds||||||300,000|||300,000| |Assets transferred
from Worcestershire
County Council||||||497,605|~33,146)||464,459| |||||||1,151,332|50,059||1,201,391| |Restricted funds|||||||||| |The Sheila Trust Fund||||||282|(282)||| |Inspiring
Future Through|||The Arts|||726|(258)||468| |Jump Start
Worcestershire
Arts|Partnership|||||1,929
2,544|(2,373)
(1,908)|444|636| |Cultural
Educational|Programme|||||5,000|(1,372)||3,628| |Arts Services - Voices||and||Vision||28,597|(28,153)|(444)|| |Bursary
Fund||||||100|1,998||2,098| |Cultural
Development||Fund|||||79,718||79,718| |Space Hive|||||||17,391||17,391| |Worcestershire
Children's||||First|||2,000||2,000| |||||||39,178|66,761||105,939| |TOTAL FUNDS||||||1,190,510|116,820||1,307,330| |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|||||||930,219|(847,014)|83,205| |Assets transferred
from Worcestershire
County Council||||||||~33,146)|~33,146)| ||||||||930,219|(880,160)|50,059| |Restricted funds|||||||||| |Music Education Grant|||||||738,225|(738,225)|| |The Sheila Trust Fund||||||||(282)|(282)| |Inspidng
Future Through|||The Arts||||20,450|(20,708)|(258)| |Jump Start|||||||2,367|(4,740)|(2,373)| |Worcestershire
Arts|Partnership||||||250|(2,158)|(1,908)| |Cultural
Educational|Programme||||||6,000|(7,372)|(1,372)| |Arts Services - Voices||and||Vision|||108,693|(136,846)|(28,153)| |Bursary
Fund|||||||1,998||1,998| |Cultural
Development||Fund|||||288,864|(209,146)|79,718| |Space Hive|||||||17,391||17,391| |Arts Council TPS Grant|||||||32,808|(32,808)|| |Malvern
Civic Society|||||||200|(200)|| |Income for Trips|||||||20|(20)|| |Ensemble
Funding
Worcestershire
Children's||||First|||750
~2000|(750)|2,000| ||||||||~1220,016|~1,153,255)|66,761| ## ## ## ## ## ## ## ## ## |||||||2021|2020| |---|---|---|---|---|---|---|---| |||||Unrestricted|Restricted|Total|Total| |||||funds
f|funds
5|funds|funds
E| |INCOME AND|ENDOWMENTS||||||| |Donations
and||legacies|||||| |Donations||||1,799|3,540|5,339|2,435| |Grants||||149,276|1,091,170|1,240,446|1,205,488| |||||151,075|1,094,710|1,245,785|1,207,923| |Charitable
activities|||||||| |Sundry parent|income||||210|210|27,852| |CPDincome|||||||1,530| |Event income|||||||8,773| |Project income||||10,840|28,342|39,182|35,641| |Resources||||14,025||14,025|27,135| |Tuition||||277,035||277,035|809,282| |Subscriptions||||4,643||4,643|24,160| |Concerts||||82||82|5,810| |Rent and workshop|||income||||2,129| |||||306,625|28,552|335,177|942,312| |Other income|||||||| |Government
Grants|||- CJRS|236,638||236,638|| |Total incoming||resources||694,338|1,123,262|1,817,600|2,150,235| |EXPENDITURE|||||||| |Charitable
activities|||||||| |Wages||||482,159|660,759|1,142,918|1,130,485| |Social security||||21,644|56,918|78,562|74,852| |Pensions||||22,254|179,102|201,356|218,124| |Subcontracted|staff costs|||13,738||13,738|3,104| |Instrument
consumables|||||141|141|5,374| |Workshop
expenditure||||103||103|3,170| |External
funding
Project costs||and|bursary|19,903
~49 147|7,240
~144809|27,143
~193956|25,541
165,138| |||||608,948|1,048,969|1,657,917|1,625,888| |Supportcosts|||||||| |Management|||||||| |Rates and water||||2,734|1,104|3.838|2,822| |Insurance||||5,597|3,813|9,410|8,704| |Light and heat||||4,801|1,940|6,741|8,766| |Telephone||||4,704|3,225|7,929|7,310| |Advertising||||11,405|3,877|15,282|36,019| |Sundries||||4,581|6,513|11,094|5,692| |Service Charges||||9,932|4,013|13,945|9,914| |Rent||||18,829|24,407|43,236|43,137| |Travel Expenses||||3,554|9,870|13,424|81,705| |IT Expenses||||32.321|22,197|54,518|51,222| |Legal, HR and||Professional||865|2,573|3,438|14,773| |Carried forward||||99,323|83,532|182,855|270,064| ## ||||||2021|2020| |---|---|---|---|---|---|---| ||||Unrestricted|Restricted|Total|Total| ||||funds|funds
f|funds|fundsf| |Management||||||| |Brought forward
Accountancy
and Payroll|||99,323
7,222|83,532
6,804|182,855
14,026|270,064
5,310| |Recruitment|Costs|||||4,427| |Conference|Costs||370||370|2,124| |Subscriptions|||3,549|1,770|5,319|1,739| |Board Costs|||819|15|834|1,146| |Premises Costs|||3,962|1,601|5,563|14,603| |CPD Costs|||1,222|7,359|8,581|6,709| |Venue
Hire|||22||22|21,118| |Safeguarding||Costs|1,300||1,300|5,796| |Postage and||Stationary|411|236|647|2,560| |Depreciation||oftangible and heritage assets|45,804|770|46,574|44,842| |Loss on sale oftangible fixed assets
Interest payable|||4,540|1,834|~6374|5,988
17,071| ||||168,544|103,921|272,465|403,497| |Finance||||||| |Bank charges|||1,328||1,328|| |Governance||costs||||| |Auditors'
remuneration|||9,732|772|10,504|4,030| |Total resources||expended|788,552|1,153,662|1,942,214|2,033,415| |Net income/(expenditure)|||~04244|~20.400)|~42 .6
)|116020|