2022-03-31-accounts

		Page
Reference and Administrative Details
Report ofthe Trustees	2	to	7
Report ofthe Independent Auditors	8	to	10
Statement ofFinancial Activities
Balance Sheet		12
Cash Flow Statement		13
Notes to the Cash Flow Statement
Notes tothe Financial Statements	15	to	29
Detailed Statement ofFinancial Activities	30	to	31

		fo	r the Year E	nded 31stMarch	2022
						2022	2021
				Unrestricted	Restricted	Total	Total
			Notes	funds f	funds 2	funds 6	funds 2
INCOME AND ENDOWMENTS		FROM
Donations and legades			4	116,743	1,678,150	1,794,893	1,245,785
Charitable activities
Music Education				688,745	44,150	732,895	301,134
Arts Development				6,850	1,000	7,850	34,043
Festivals					18,712	18,712
Other income				24,747		24,747	236,638
Total				837,085	1,742,012	2,579,097	1,817,600
EXPENDITURE ON
Charitable activities
Music Education				771,979	915,191	1,687,170	1,463,857
Arts Development				116,828	18,528	135,356	187.938
Fesbvals					768,112	768,112	290,419
Total				888,807	1,701,831	2,590,638	1,942,214
NET INCOMEI(EXPENDITURE)				(51,722)	40,181	(11,541)	(124,614)
Transfers between	funds		20	(4,941)	4,941
Net movement in funds				(56,663)	45,122	(11,541)	(124,614)
RECONCILIATION	OF FUNDS
Total funds brought	forward			1,111,118	71,598	1,182,7'I6	1,307,330
TOTAL FUNDS CARRIED FORWARD				1 054r455	116,720	1;171,175	1,182716

		Severn Arts	Severn Arts
		Balance Sheet
		31st	March 2022
					2022	2021
			Unrestricted	Restricted	Total	Total
		Notes	funds 6	funds f	funds 6	fundsf
FIXEDASSETS
Tangible assets			458,874	5,630	464,504	498,955
CURRENT ASSETS
Debtors: amounts	falling due within one year	15	288,800	9,274	298,074	182,742
Cash at bank and	in hand		846,355	133,559	979,914	941,523
			1,135,155	142,833	1,277,988	1,124,265
CREDITORS
Amounts falling due within one year		16	(263,385)	(31,743)	(295,128)	(164,315)
NET CURRENT ASSETS			871,770	111,090	982,860	959,950
TOTAL ASSETS	LESSCURRENT LIABILITIES		1,330,644	116,720	1,447,364	1,458,905
CREDITORS
Amounts falling due after more than one year		17	(276,189)		(276,189)	(276,189)
NET ASSETS			1,054,455	116,720	1,171,175	1,182,716
FUNDS		20
Unrestricted funds					1,054,455	1,111,118
Restricted funds					116,720	71,598
TOTAL FUNDS					1,171,175	1,182,716

			Sevem Arts
			Cash Flow Statement
			for the Year Ended 31stMarch	2022
			Notes	2022 5	2021f
Cash flows from operating		activities
Cash generated from operations			1	40,623	4,245
interest paid					(6,374)
Net cash provided by/(used		in) operating	activities	40,623	(2.129)
Cash flows from investing		activities
Purchase oftangible fixed assets				(2,232)	(17,266)
Net cash used in investing	acfivities			(2,232)	(17.266)
Cash flows from financing		activities
WCC loan repayments					(23.512)
Net cash provided by/(used		in) tinanclng	activities		(23,812)
Change in cash snd cash		equivalents	in
the reporting period				38,391	(43,207)
Cash and cash equivalents		at the
beginning ofthe reporting		period		941,523	984,730
Cash and cash equivalents		at the end	of
the reporting period				970,914	941.523

			forthe Year Ended	forthe Year Ended	forthe Year Ended	forthe Year Ended	forthe Year Ended	31stMarch 2	022	022	022
	RECONCILIATION		OF NET EXPENDITURE TO NET					CASH FLOW	FROM OPERATING ACTIVITIES
										2022	2021
										8	2
	Net expenditure for			the reporting			period (as per the	Statement of
	Financial Activities)									(11,541)	(124,614)
	Adjustments	for:
	Depreciation	charges									46,574
	Interest paid										6,374
	gncrease)/decrease			in debtom						(115,332)	116,'l75
	Increase/(decrease)			in creditors						130,813	(40,264)
	Net cash provided		by operations							40,623	4,245
2.	ANALYSIS OF CHANGES					IN NET	FUNDS
								At 1.4.21 f		Cash flow f	At31,3.22 2
	Net cash
	Cash at bank	and in	hand						941,523	3&Q91	979,914
									941,523	38&391	979&914
	Debt
	Debts failing	due after			1 year			(276&169)			(276,189)
								(276,1&9)			(276,189)
	Total								665,334	38.391	703,725

ACCOUNTING POLICIES -	ACCOUNTING POLICIES -	ACCOUNTING POLICIES -	ACCOUNTING POLICIES -	ACCOUNTING POLICIES -	ACCOUNTING POLICIES -	continued
TANGIBLE FIXEDASSETS
Tangible fixed assets			are		initially recognised at cost. ARer recognition. under				the cost model, tangible			fixed
assets ere reassured		at cost less accumulated depreciafion and any accumulated							impairment	losses.	Afi costs
incurred to bring a tangible					asset into its Intended working condition should be induded in the					measurement of
cost.
A review for impairment			of		fixed assets is carried out if		events or changes in circumstances			indicate	that the
canying value of any		fixed			asset may not be recoverable.		Shortfalls between the		carrying value	of fixed		assets
and their recoverable			amounts are recognised as impainnents. Impairment						losses are recognised			in the
Statement offinancial	activities.
Tangible fixed assets	costing					5500or more are capitalised.
Depreciation is provided				at		rates calculated to write off	the cost of fixed assets,		less their estimated		residual
value, over their expected				useful lives on fhe following bases:
Motor vehicles Fixtures &fiMngs						-5yearn straight line -10years straight line
Office equipment						-5years straight line
Computer equipment						-5years straight line
Instruments:
Low value/	low			life		Over 4 years. This applies	to instruments such	as recordem,		fifes, doods,
expectancy:						ukuleles and other similar low value items.
Brass:						Instruments have a longer	life in schools. Assuming		50% at 10years down			to
						20'%%d at 20years.
- Woodwind:						Instruments have a longer	fife in schools. Assuming		50/ at 10 years down			to
						20%at20years.
Upper strings:						Instruments have a longer	fifie in schools, however		are of much	tower	initial
						value than brass/ woodwind which makes them			less saleable	over	time.
Lower Strings:						Assume 30%at year 10and 0'%%d at yearn. Instruments have a longer liTe in schools. Assuming			50% at 10years, down			to
						20%at20years.
Tuned Percussion						Indudes some higher value	instruments which are		not hired out	and so	waar
						and tear is less (tend to be	used centraliy). E.g. Timpani, Marimba,			Xylophone,
						Vibraphone, Keyboard instruments. Assumed slower depredation - 60%						of
						original value at year 10and	30'/s at year 20.
Untuned Percussion						Indudes lower cost instruments such as cymbals,			drums, djembes. Usually
						higher wear and tear for small percussion. Some. such as djembs				are hired		to
						schools in sets and are often	not repairable. Assumed		20%value atyear 10.
- High Value:						Includes Instruments rarely	hired out, used centrally		only or if exceptional		value
						(eg. Harp, Contrabassoon	etc). Instruments are		kept in excefient serviced
						condiTion and still retain considerable value sRer 20years (assumed				5P%%d).
Miscellaneous:						This assumed straight line depreciation to 10% after 10years and covers					non
						standard items eg Drum Kit,	Early Years percussion,	Sarnba, Folk.

			fo	r the Year E	nde	d 31stMarc	h 2022
CHARITABLE ACTMTIES			COSTS
							Direct	Support
							Costs (see	costs (see
							note 7) f	nots 8) f	Totalsf
Music Education							1,273,069	414,101	1,$87,170
Arts Development							124,043	11313	135,356
Fes0vals							725,935	42,177	768,112
							2,123,047	467,591	2,590,638
DIRECT COSTS	OF CHARITABLE			ACTIVITIES
								2022	2021
Staff costs								1,334,217	1,422,836
Instrument consumables								745	141
Workshop expenditure								216	103
External funding	and bursary							19,693	27,143
Project costs								751,$51	193,956
Subconlraded staff cos(s								16,525	13,738
								2,123,047 Governance	1,657,917
SVPPORT COSTS
							Human
			Management f			Finance f	resources f	costs f	Totals f
Music Educsfion			368,333			1,641	39,951	4,176	414,101
Arts Development				10,571			403	339	11&313
Festivals				39,506			1,396	1,175	42,177
			418,510		-	't,641	41,750	5,690	467,591
Support costs, included		in the	above,	are asfollows:
								2022	2D21
				Music		Arts		Total	Total
			Education		Development		Festivals f	activities f	activiTies f
Rates and water				2.367		192	666	3,225	3,838
Insurance				10&876		884	3,060	14,820	0,410
Light and heat				5,280		429	1,486	7,195	6,74'I
Telephone				6,108		496	2,042	8,646	7,929
Advertising				18,980			4,520	23,500	15,282
Sundries				2r453				2,453	11,D94
Service Charges				10,233		832	2,879	13,944	13,945
Rent				29,377		2,391	8,266	40,034	43,236
Travel Expenses				55,365		630	364	56,359	13,424
ITExpenses				46,124		1&187	4,108	51,419	54,518
Legal, HR and Professional				21,384		1,738	6,017	29,'l39	3,430
Accountancy and	Payrol!			15,'l19		1,229	4,254	20,602	14,026
Conference Costs				167				167	370
Subscriptions				5,363				5,363	54'19
Board Costs				1,916				1,916	834
Premises Costs				6,353		516	1,788	8,657	5463
CPD Costs				4,985				4,985	8,581
Venue Hire				10,296				10,296	22
Safeguarding Costs Consultancy Fees				2,893 75,455				2,895 75~5	1,300
Canied forward			331,094			10,526	39,450	381,070	218,870

SUPPORT COSTS - continued
				2022	2021
	Music	Arts		Total	Total
	Education 2	Development 2	Festivals 5	activities 6	activities 2
Brought forward	331,094	10,526	39,450	381,070	218,870
Postage and Stafionary	556	45	156	757	647
Doprociatlon oftanglblo and
heritage assets	36,683			36,683	46,574
Interest payable and similar
charges					6,374
Bank charges	1,641			1,641	1,328
Redundancy	39,951	403	1496	41,750
Auditors'remuneration	4,176	339	1,175	5,690	10,504
	414,101	11 3'f3	42,177	467,591	284,297

management personnel totalled f224941 for4 employees (2021:f233170for4 em	management personnel totalled f224941 for4 employees (2021:f233170for4 em	management personnel totalled f224941 for4 employees (2021:f233170for4 em	ployees).
COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
		Unrestricted	Restricted	Total
		funds 6	fundsf	funds
INCOME AND ENDOWMENTS	FROM
Donations andlegacies		151.075	1,094.710	1,245,785
Chadtable activities
Music Education		295,785	5,349	301,134
Ans Development		10,840	23.203	34,043
Other income		236,638		236,638
Total		694,338	1,123,262	1,817.600
EXPENDITURE ON
Charitable activities
Music Education		658,593	805,264	1,463,857
Aria Development		121,763	66,175	187.938
Fesiivals		8,195	282,224	290,419
Total		788,551	1,153,653	1.942,214
NET INCOME/(EXPENDITURE)		(94,213)	(30,401)	(124,614)
Transfers between funds		3,941	(3,941)
Net movement in funds		(90,272)	(34,342)	(124,614)
RECONCILIATION OF FUNDS
Total funds brought forward		1,201,391	105,939	1.307,330
TOTAL FUNDS CARRIED FORWARD		1,111,119	71,597	1,182,716

						Fixtures
						and	Motor	Computer
					Instruments E	fittings 5	vehicles 5	equipment f	Totals 8
COST
At 1stApril 2021					502,384	76,378	10,100	42,313	631,175
Additions						143		2,089	2232
At 31st March	2022				502,384	76,521	10,100	44r402	633807
DEPRECIATION
At 1stApril 2021					92,938	21,887	2,520	14,875	132,220
Charge foryear					18,129	7,652	2,020	8,882	36,683
At 31st March	2022				111,067	29,539	4,540	23,757	168,903
NET BOOK VALUE
At 31st March	2022				39'f,317	46,982	5,560	20,645	464,504
At 31st March	2021				409,446	54,491	7,580	27,438	498,955
DEBTORS:AMOUNTS			FALLING		DUE WITHIN ONE YEAR
								2022	2021
									f
Trade debtors								81,863	14,768
Prepayments	and scorned			income				236,211	167,974
								298.074	182.742
CREDITORS:	AMOUNTS			FALLING DUE WITHIN		ONE YEAR
								2022	2021
								6	6
Trade creditors								104,526	22,791
Social security	and other			taxes				21,498	18,210
Other creditors								33,507	22,439
Accruals and deferred		income						135,597	100,866
								295,128	154,315

CRED	ITOR	S: A	MOU	NTS FALLING DUEAFTER MOR	E THAN ONE YEAR
					2022	2021
					6	5
Other	loans	(see	note	18)	276,189	276,189

			2022	2021
			6
Amounts Amounts Amounts	faliing fsliing falling	due within one your between one and five years due in more than five years	228,571 47,618	228,571 47,818
			276,189	278,189

Minimum lease payments under non-canceliable operating	leases fali due as follows:
	2022	2021
	6	8
Within one year Between one and five years	29&333	32,000 29,333
	29,333	61,333

MOVEMENT IN F		UN	DS
					Net	Tmnsfers
					movement	between	At
				At1.4.21	in funds	funds	31.3.22
					8
Unrestiicted funds
General fund				325,432	(30,244)	(4,941)	290,247
Designated Funds				300,000			300,000
Assets transferred		from Worcestershire
County Council				448,165	(24,377)		423,788
WCC Arts Connect				37,521	2,8$9		40,420
Restricted funds				1,111,118	(51,722)	(4,941)	1,054,455
Cultural Development			Fund	7&063	162		7,225
BBCChildren In Need					925	(906)	19
Bursary Fund				3,345	3J)86	5,000	11,831
Changing Tracks Nature Group					1,500		1,500
The Children's Society					892		892
COMP Enhanced	Youth Support				1&0'I9		1,019
Cultural Educational		Programme		5,270	1,000		6,270
Furthering Talent				7,724	15,329		23,053
Holiday Activities &		Food Programme			6,070		6,070
InspiYing Future Through The Arts				10,632	(9.028)		1,604
Jubilee Funding					8,947		6,$47
Kickstart					1,991	(1,183)	808
Music BoxFund				11,843	2&131		13,974
Music Mark Mnovation			Fund		10,800		10,800
Soundabout Choir					(2,030)	2,030
Sundry Restricted	Donations			265			265
Youth Music				25,456	(1,013)		24,443
				71,598	40,181	4g41	116,720
TOTAL FUNDS				1,182,716	(11,541)		1,171,175

MOVEMENT IN	FUNDS - contin	FUNDS - contin	ued
Net movsrnenl in	funds, induded		in the above are as follows:
				Incoming	Resources	Movement
				resources	expended	in funds
				6
Unrestricted funds
General fund				717,358	(747,602)	(30~)
Assets transferred	from Worcestershire
County Council					(24,377)	(24,377)
WCC Arts Connect				119,727	(116,828)	2,899
				837,085	(888,807)	(51,722)
Restricted funds
Music Education Grant				738,857	(738,857)
Cultural Development		Fund		768874	(768,112)	162
Arts Coundl TPS	Grant			56,243	(56,243)
BBCChildren In Need				18,348	(17,423)	925
Bursary Fund				3,486		3,486
Changing Tracks	Nuture Group			1,500		1,500
The Children's Society				3,700	(2,808)	8$2
COMP Enhanced	Youth Support			4',rrg	(3,751 )	1,01$
Cultural Educational Programme				1,000		1,000
Furthering Talent				32,300	(16,971)	15,329
Holiday Activities	&Food Programme			27,367	(21,297)	6,070
Inspiring Future Through The Puts				9,500	(18,528)	(9,028)
Jubilee Funding				12,750	(5,803)	6,947
Kickstart				6,309	(4,318)	1,991
Music BoxFund				23426	(21,095)	2.131
Music Mark Innovation		Fund		12,600	(1,800)	10,800
Soundabout Choir					(2,030)	(2,030)
Youth Music				21,782	(22,795)	(1,013)
				1,742,012	(1,701,831 )	40,181
TOTAL FUNDS				2,579,097	(2,590,638)	(11,541)

Compsratives f	or	mo	ve	m	ent in funds
							Net	Transfers
							movement	between	At
						At 1.4.20 f.	in funds	fundsf	31.3.21 f.
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 Aria Connect							37,521		37,521
						1,201,391	(94,214)	3,94'I	1,111,118
Restricted funds
Music Education	Grant						2,885	(2,885)
Cultural Development			Fund			79,718	(73,517)	862	7,063
Bursary Fund						2,098	3,485	(2,238)	3,345
Cultural Educahonal		Programme				3,628	1,642		5,270
Furthering Talent							7,724		7,724
Inspiring Future Through				The Arts		468	10,164		10,632
Music BoxFund						17,391	(5,548)		11,843
Sundry Restricted	Donations						265		265
Woroestershire Ans		Partnership				636	(956)	320
Worcestershire Children's					First	2,000	(2,000)
Youth Music							25,456		25,456
						105.939	(30,400)	(3,941)	71,598
TOTAL FUNDS						1,307,330	(124,614)		1,182,7'I6
Comparative 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 transfened	from		Worcestershire
County Council								(37,925)	(37,925)
WCC Arts Connect							159,256	(121,735)	37,521
							694,338	(788,552)	(94,214)
Restricted funds
Music Education Grant							736,781	(733,896)	2,885
Cultural Development		Fund					261,332	(334,849)	(73,517)
Arts Council TPS	Grant						56,242	(56.242)
Bursary Fund							3,485		3,485
Cultural Educafionsi		Programme					4,000	(2,358)	1,642
Furlheding Talent							13,920	(6,196)	7,724
Inspiring Future Through				The Arts			20,467	(10,303)	10,164
Music BoxFund							199	(5.747)	(5,548)
Sundry Restricted	Donabons						265		265
Worcestershire Arts		Partnership					(10)	(946)	(956)
Worcestershire Children's				First				(2,000)	(2,000)
Youth Music							26,581	(1,125)	25,456
							1,123,262	(1,153,662)	(30,400)
TOTALFUNDS							1.817.600	(1,942,214)	(124,614)

			Ssvern Arts	Ssvern Arts
			Detailed Statement of Financial Activities
			for the Year Ended 31stMarch 2022
					2022	2021
			Unrestricted	Restricted	Total	Total
			funds	funds 8	fundsf	funds 5
INCOME AND ENDOWMENTS
Donations and		legacies
Donations			835	16,712	17,547	6,339
Grants			115,908	1,66'l,438	1,777,346	1,240,446
			116,743	1,678,150	1,794,893	1,245,785
Charitable activities
Sundry parent	income					210
CPD income			2,055		2,055
Project income			6,850	63,862	70,712	39,182
Resources			24,635		24,635	14,025
Tuition			636,648		636,648	277,035
Subscnptions			23,753		23,753	4,643
Concsrls			1,654		1.654	82
			695,595	63,862	759,457	335,'I77
Otherincome
Government Grants - CJRS			24,747		34,747	236,638
Total incoming		resources	837,085	1,742,012	2,579,097	1,817,600
EXPENDITURE
Charitable activities
Wages			474,293	599,912	1,074,205	1,142,918
Socialsecurity			34,800	41,861	76,661	78,562
Pensions			39.115	144,236	183,351	201,356
Instrument consumables			367	378	745	141
Workshop expenditure			108	108	216	103
External funding		and bursary	14,780	4,913	19,693	27,143
Project costs			37,685	713,966	751,651	193,956
Subcontracted	stalf costs		16,125	400	16,525	13,738
			617,273	1,505,774	2,123,047	1,657,917
Stlpporf costs
Management
Rates and water			1,124	2,101	3,225	3,838
Insurance			5,165	9,655	14,820	9,410
Light and heat			2,507	4,688	7,195	6,741
Telephone			2,756	5,890	8,646	7,929
Adverfising			8,778	14,722	23,500	15,282
Sundnes			1&321	1&132	2&453	11,094
Service Charges			4,860	9,084	13,944	13,945
Rent			13,952	26,082	40,034	43,236
Travel Expenses			31,105	25,254	56,359	13,424
ITExpenses			33,194	18,225	51A19	54.518
Legal, HR and	Professional		10,155	18,984	29,139	3,438
Accountancy and Payroll			7,180	13,422	20,602	14,026
Conference Costs			92	75	167	370
Carried fonvard			122,189	149,314	271,503	197,251

Severn Arts	Severn Arts	Severn Arts
Detailed Statement of Financial Activities
for the Year Ended 31stMarch 2022
			2022	2021
	Unrestrtcted	Restricted	Total	Total
	funds f	funds f	fundsf	fundsf
Management Brought foward Subscriptions Board Costs Premises Costs CPD Cosh Venue Hire Safeguarding Costs Consultancy Fees Postage and Shtionary Depreciarion oftangible and heritage assets Interest payable	122,189 2,977 1,063 3,016 2,737 5,714 1,608 75,455 264 35,363	149,314 2,386 853 5,641 2,248 4&582 1,287 493 1,320	271,503 5,363 1,916 8,657 4,985 10,296 2,895 75,455 757 36,683	197,251 5,319 834 5,563 8,581 22 1,300 647 46.574 6,374
	250,386	168,124	418,510	272,465
Finance Bank charges	1,641		1,641	1,328
Human resources Redundancy	21,774	19,976	41,750
Governance costs Auditors' remuneration	1,983	3,707	5,690	10,504
Total resources expended	893,057	1,697,581	2,590,638	1,942,214
Net expenditure	(55,9721	44,431	(11,541 )	(124,614)