## **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 re￿iVed 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