Annual Report September 2022 – August 2023
The Trustees are pleased to report that South East Derbyshire Music Centre has experienced a good year, although recruitment of new members remains an ongoing challenge. We continue to offer a variety of ensembles running under the same roof, inspired by our dedicated team of staff.
A busy year for the Music Centre started with “open days’. For the guitars a “come and jam” and then a general open day targeted at getting more junior players to join. This was reasonably successful and junior string numbers were bolstered. Christmas saw a premier performance of Chris Knapp’s composition “the moon” for joint senior band and orchestra which was a great success in December.
In the winter term we also combined Big Band and Brass Band to create our “Street Band”. This new and different style of ensemble is a popular choice for teenage players and has been nurtured by our dedicated member of staff. In January we also recruited a new member of staff to direct Junior Winds and support with the full Junior orchestra, ensuring that the junior end of SEDMC is now very secure in their capable hands.
The Senior Wind players had a very successful Spring term, receiving a gold award at Northampton in the NCBF regional festival and then going on to receive another gold in the Final at RNCM in April 2023. This was a day to be remembered with the opportunity to work with RNCM tutors and hear the RAF band play some astoundingly difficult wind band repertoire.
As part of our drive to be seen and heard in the community the Director of Music did a radio interview for Erewash Sound - resulting in an audio clip and written article promoting the centre and our upcoming spring concerts.
The end of the summer term saw a team of y13 and y11 (post exams) go out into primary schools to give mini concert / workshops to promote SEDMC and inspire young children to either take up a musical instrument or come with their instrument to Centre on Saturdays. They were well received at each school and a credit to the musical excellence we are proud of at SEDMC.
The end of a busy year was marked with the summer concerts, which were quite poignant this time as we said goodbye to our strings tutor who has been with us for over 20yrs. As with every summer concert we then said farewell to our many loyal y13 players with the traditional red rose.
Despite the challenges around member recruitment, our financial situation remains secure. Please see attached accounts.
-sED.Mc South East Derbyshire Music Centre Annual Finance Report Registered charity, number 1180960 For the period ended 31 August 2023 Prepared by Steven Hardy Prepared on 24 June 2024 This financial statement has been prepared to comply with cash accounting rnethod.
Table of Contents Treasurer's report . Independent examiner's report SEDMC Finance Statement........................... Bank balances Notes to the accounts Glossary of tems .
Treasurer's re The principal funding sources for the charity have remained to be from membership subscriptions and theArts Council England grant administered by the Derby and Derbyshire Music Partnership. This year has seen an increase in total funds held. Total income this yèar was £61.4k and total expenses was £53.1k. The financial statement for year-end August 2023 therefore displays a surplus of £4,756.85 Whilst the pandemic saw a generally downward correction in membership and finances, the year 2022-23 saw continued improvements in Concert income {£8,119, up from £7,357} and Tuck Shop sales1£1,625, up from £741). Membership fees income from both the main centre and satellite clubs saw a modest increase (£16,429, up from £15,786}. demonstrating a stable membership base. Gift aid applicable to fees income from 2021-22 was received during 2022-23 as expected. Expenditure, excluding tour payments, was lower than the previous period (£43,813, down from £46,872). in part due to some rental costs deferred until 2023-24. Whilst pay costs were slightly down on the previous period, these are offset by an equivalent increase in non-pay costs. The Trust accounts closed with a cash reseyve of £34,773.81 (of which £6,163.42 is restricted for the 2024 tour). These are in line with the amount identified in the Trust's Reserves Policy, which is that reserves should equal two tem)s worth of essential operating costs li.e. salaries and rental). For 2022-23, this equated to approximately £29,500 and this is expected to increase in the short- to medium-term with inflationary pressures on costs. It is the Trustees view that they will continue to seek to maintain finances in 2023-24 and withstand inflationary pressures on costs. There will be a continued focus on sustained growth of fee-paying members and control of costs to provide for stable finances in the medium-term and increasing reserves in line with Policy, with expected increases in Costs. The Trust's independently verified accounts are attached to this Report.
CHARITY COMMISSION FOR ENGLAND AND WALES Independent examiner's report on the accounts Section A Independent Examinef s Report Report to the trustees South East Derbyshire Music Centre Trust On accounts forthe year ended 31 August 2023 Charity no (if any) 1180960 Set out on pages 6t09 I report to the trustees on my examination of the accounts of the above charity I'the Trust") foi the year ended 31108 12023. Responsibilities and basis of report As the charity's trustees, you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 20111"the Act"). I report in respect of my examination of the Trust's accounts carried out under sectr.on 145 of the 2011 Act and in carrying out my examination, I have followed all the applicable Directions given by the Charity Commission under section 14515llbl of the Act.
Independent examiner's statement I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination lother than that disclosed below I which gives me cause to believe that in, any material respert.. the accountinE records were not kept in accordance with section 130 of the Charities Act- or the accounts did not accord with the accounting records- or the accounts did 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 connectTon 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. Please delete the words in the brackets if they do not apply. Signed: Date: 24/0612024 Name: Charlotte Hallworth Relevant professional qualification{s} or body lif any}: Chartered Global Management Accountant ICGMAI
South East Derbyshire Music Centre Trust Financial Statement 1 September 2022 to 31 August 2023 Total Sep 2021 to Aug 2022 {PY} (£) Sep 2022 to Aug 2023 (£) INCOME Concerts income Donations and legacies Instrument Hire Interest Received Music Centre Fee Sales Satellite Clubs Tour income Tuck Shop Sales 7.357.20 17,145.38 12.50 13.57 15,297.00 29.00 489.20 23,183.27 741.08 8,118,85 26,260.75 45.00 138.21 15,885.00 1,043.50 544.00 9.695.00 1,625.41 61,355.72 64,268.20 Total Income COST OF SALES Cost of sales Reed Purchases Tuck Shop costs Total Cost of Sales TOTAL EXPENDITURE AdvertisinglPromotional Bank Charges Computer Costs Concert Expenses Instrument Insurance Instrument Purchases Miscellaneous Expenses Music Purchases OfficelGeneral Administrative Expenses Phone Costs Printing, Postage and Stationery Rent- All venues Salaries Tour Payments Training Total Expenditure NET OPERATING INCOMEI(EXPENDITURE) NET INCOMEI(EXPENDITURE) 1,010.00 15.19 2,234.95 2,250.14 62,018.06 2,475.88 3.485.88 57,869,84 124.48 7.07 577.18 383.12 646.80 240.16 1.270.25 523.10 76.49 69.46 84.24 6,970.00 32,583.84 9,300.00 257.00 53,112.99 4,756.85 316.34 838.92 894.80 725.44 30.99 532.53 300.68 26.88 51.52 71.79 9.976.50 33,103.96 29,614.64 76,486.99 (14,466.93) 4,756.85 (14.466.931
Bank balances Balance held at year-end 2023 2022 Cash Held PayPal Saving / Reserve account Current account Total 0.00 126.37 20.308.30 14,339.14 34,773.81 0.00 126.37 27,670.09 2,220.50 30,016.96 Current liabilities Tax&NI 0.00 0.00 Cash funds a split between Restricted Unrestricted Total 6,163.42 28,484.02 34,773.81 5.768.42 24,248.54 30 016.96 Cash movement over the financial ear Opening Bank Balances Income and Expenditure result Ipage 51 Closing Bank Balance 30,016.96 4,756.84 34,773.81 44,483.89 14,466.93 30,016.96
Notes to the accounts Donations Grants & Subsidies 2023 2022 Gift aid received Other income SLA Grant Received TOTAL 7,170.08 52.67 17,000.00 24,222,75 145.38 17,000.00 17 145.38 Assets for own use SEDMC own a variety of instruments which are used in the delivery of our music programme throughoLrt the year. These are insured to the value of £77k. Creditors None for the period Debtors None for Ihis period
Glossary of terms Recei t&Pa ment accounts Receipt and payment accounts contain a summary of money reiVed and spent during the period. Usually. this lists cash received and cash spent either as transactions through bank accounts or by cash in hand. Bank Funds Unrestricted funds can be used in accordance with the charitable Objectives at the discretion of the trustees. Designated funds are unrestricted funds eamarked by the trustees for a particular purpose. Restricted funds can only be used for particular purposes within the objects of the charity. Restrictions arise when specified by a donor or when funds are raised for specific purposes. Creditors These are amounts owed by the charity, but not paid during the accounting period. Debtors These are amounts owned to the charty. but not received in the accounting period. ments These are seNices that the charity has paid for in advance. but not used during the accounting period. Cash basis of accountin Cash Method SEDMC adopts this method of financial reporting for its annual accounts submission to the Charity Commission. It is a simple method of record keeping. No prepayments, Accrued income or expenses, no debtors or creditors in the balance sheet. The finance report is purely cash received and paid within the financial year. Notes to the accounts are for informational use and are not shown in the balance sheet of the Cash Method