2024-03-31-accounts

Musical Boroughs Trust

Registered Charity Number: 1183585

Musical Boroughs Trust Trustees’ Annual Report and Financial Statements For the year ended 31 March 2024

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Musical Boroughs Trust

Contents

Charity information...............................................................................................................................3 Report of the Trustees for the year ended 31 March 2024...................................................................4 Statement of Financial Activities for the year ended 31 March 2024....................................................8 Balance Sheet as at 31 March 2024.......................................................................................................9 Notes to the financial statements for the year ended 31 March 2024................................................10

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Musical Boroughs Trust

Charity information

Trustees Susan Whiddington CBE (Chair), appointed 21/09/2021 Ian Mclean Adams, appointed 24/05/2019 Eva Morrison, appointed 04/12/2019 Linlin Jin, appointed 04/12/2019 Timothy Garrard, appointed 05/02/2020 Catherine Marris, appointed 10/06/2020 Edward McGovern, appointed 10/06/2020 Milica Vukovic-Smart, appointed 18/01/2022 Socorro Torres-Duarte, appointed 23/02/2023 Caroline Hansen, appointed 29/09,2023, resigned 31/12/2024 Grace Lee, appointed 29/09/2023, resigned 26/11/2024 Jonathan Chambers, appointed 29/09/2023 Claire Goddard, appointed 05/02/2020, resigned 30/09/2023 Fatin Boumaaz, appointed 11/09/2019, resigned 30/09/2023 Stuart Whatmore, appointed 24/05/2019, resigned 30/09/2023

Registered charity number 1183585 Principal address Tri-borough Music Hub, Lyric, Hammersmith, Lyric Square, King Street, London, W6 0QL Bankers HSBC Bank Plc, 8 Canada Square, London, E14 5HQ

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Musical Boroughs Trust

Report of the Trustees for the year ended 31 March 2024

Introduction

The Trustees present their annual report together with the financial statements of the charity for the year ended 31 March 2024. The Charity is governed by the Constitution of a Charitable Incorporated Organisation whose only voting members are its charity trustees. The charity was registered with the Charities Commission on 24 May 2019 made pursuant to the Charities Act 2011 and the General Regulations.

The financial statements have been prepared in accordance with 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), the UK General Accepted Practice, and the Charities Act 2011 as detailed in the accounting policies.

Structure, Governance and Management

Musical Boroughs Trust (the “Charity”) was registered as a charitable incorporated organisation on 24 May 2019, number 1183585.

The working name was officially changed to Tri-borough Music Trust (TBMT) on 14 October 2022. Trustees are appointed by the Board of Trustees for their respective knowledge, skills and experience. The induction process for newly appointed Trustees comprises an initial meeting with the Trustee to brief them on their legal obligations under charity law, the decision-making processes of the charity and its policies and procedures. The Chair, and often the Head of the Tri-borough Music Hub, meet with new Trustees before the new Trustee’s first Board meeting to provide background and current information about the charity. Potential Trustees are also invited to attend a Board Meeting as an observer before they commit to becoming a Trustee.

The Board of Trustees meets quarterly to consider applications and deal with the governance of the charity.

Risk Management

The Trustees have examined the major strategic, business and operational risks which the charity faces. The Board of Trustees meets quarterly to ensure the risks are assessed constantly and all necessary actions are taken to lessen the risks.

Public Benefit

The Trustees have complied with the duty in Section 17(5) of the Charities Act 2011 to have due regard to guidance published by the Charity Commission in respect of public benefit when reviewing the Charity’s aims and objectives and planning future activities for the year.

Objectives and Activities

The primary objective is to promote for the public benefit the outstanding work of the Tri-borough Music Hub (TBMH) in three west London boroughs: Hammersmith and Fulham; the Royal Borough of Kensington and Chelsea; and the City of Westminster:

• (a) by providing information, advice, raising awareness and grants for the delivery of high-quality music education;

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Musical Boroughs Trust

• (b) by promoting collaborative working by supporting the provision of services, activities and facilities (that are not required to be provided by the local education authorities) for the highest quality learning opportunities in music and the arts; and

• (c) to advance such charitable purposes (according to the law of England and Wales) as the trustees see fit from time to time.

Achievements and Performance

Together, TBMT and TBMH have taken on responsibilities in coordinating the ways in which we support local music education to avoid a duplication of effort. Supported by its Trustees, who have a wide range of professional expertise, TBMT has begun a new phase of its existence by raising funds for activities to provide high-quality music making opportunities for approximately 20,000 children and young people each year. The three local authorities have generously supported the excellent work of the Tri-Borough Music Hub, but recent cuts to central Government grants have meant that we urgently need the help of parents, trusts, foundations, businesses and individual donors to sustain the hugely valued inclusive work which has been pioneered in our three boroughs by offering a wide range of musical opportunities to disadvantaged young people.

TBMT's role is to raise funds to help fund music programmes across our boroughs. We aim to achieve this through grant applications to charitable trusts and foundations, such as the John Lyon’s Charity, and through the generosity of our donor community and corporate supporters. However, more support is urgently needed. We are raising funds for:

• Bursaries and music scholarships to cover the costs of music lessons for highly talented children/young people living below the poverty line.

• Inclusive music programmes that fully reflect the diversity of our three boroughs.

• Musical instruments of all types to support young musicians.

• Running costs of TBMH’s Saturday music school, weekday youth ensembles and choirs (covering multiple genres), and holiday courses, which build confidence, develop skills and consolidate learning.

• Special projects for children with additional needs, such as Musical Senses, specifically created for young people who are blind, partially sighted, Deaf or hard of hearing.

• Salaries of specialist music staff who work with disadvantaged children and enable them to access new opportunities and develop life chances they wouldn’t otherwise have.

• Performance events that inspire children and encourage them to aim really high, as ~~such1~~

• ~~wWe~~ want every child in our area to be able to access and enjoy music making - because we

• know it’s more than music. Music helps the educational development and wellbeing of children and young people. Through music, the foundations of learning are strengthened, helping to build confidence, teamwork and sociability as well as academic achievement and creativity. In this way, aspirations are raised, and children's life chances are improved.

We believe that music is an essential part of the school curriculum, and we strive to ensure it reaches and engages all children equally, regardless of challenging circumstances. In our area, where almost half of children live in poverty, we help enable access for all by funding a broad range of inclusive music programmes delivered by the TBMH.

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Musical Boroughs Trust

This Financial Year was very successful in helping the charity achieve its objectives of serving more young people to participate in musical activities. Highlights include:

• Music Makes You Songwriting Project (2024): Five schools participated in this project, cocreating original songs with a musician based on the school's and students' needs. Pupil’s voice was central to the planning and delivery, ensuring ownership and engagement.

• Music Makes Me Concert: Held on 27[th] June 2023 at the Royal Albert Hall, this major musical event involved over 1,100 children and young people from the three boroughs singing in the chorus and playing in the orchestra. A specially commissioned musical piece was performed which followed the adventures of a neuro-diverse young women who finds herself through music. This event was a huge triumph of planning and participation, involving a number of other prestigious organisations, including the Royal College of Music and the Royal Albert Hal. The Royal Albert Hall’s auditorium was complexly full, with an audience comprised of families, friends, funders and supporters.

• Makaton Pilot Project: This pilot launched with five SEND schools and aimed to develop communication, social, and emotional regulation skills through collaborative music-making and signing. The Hub hopes to expand this project into a wider Makaton choir.

• Musical Senses: This programme catered to young musicians who are blind/visually impaired or Deaf/hard of hearing. It provided workshops led by professionals with similar disabilities, fostering inspiration and demonstrating achievable musical pathways. The programme has expanded in 2024 with a three-day programme for older students.

• Inclusive Delivery and Resources: Delivery of events such as the Hub's Christmas Festival has been enhanced with visual resources and signing. Additionally, multiple entry points were created, such as video submissions, allowing participation for those with challenges performing live.

• CPD for Educators and Partners: The Hub offered numerous CPD events, including "Inclusive Practice in the Classroom" for school tutors and "Building Musical Pathways for All" for a wider audience. These sessions provided educators with practical strategies and resources for engaging students with SEND in music education.

• Partnerships: The Hub fostered collaborations with organisations like Live Music Now and In-deep Therapy, facilitating targeted SEND projects within schools.

• Trustees: Attended a range of musical events including Christmas concerts, jazz festivals, etc.

• Donors : We have increased our fundraising initiatives with corporates and private donors. We wish to thank the many trusts, foundations and individual donors who supported us this past year.

~~ Our trustees are: Susan Whiddington CBE, Chair Milica Vukovic-Smart, Deputy Chair Ian Adams Jonathan Chambers Tim Garrard Caroline Hansen Grace Lee~~ Catherine Marris ~~Edward McGovern~~

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Musical Boroughs Trust

~~Eva Morrison~~

~~ Socorro Torres-Duarte~~

Financial Review

The total income for the year was £53,392 (2023: £79,182) with unrestricted income of £4,225 (2023: £906) and restricted income of £49,167 (2023: £78,276).

The total grant made out of the restricted income was £86,460 (2023: £18,400). The expenses were £187 on unrestricted activities (2023: £455) and £nil (2023: £nil) on restricted activities to promote the Charity.

The Charity has total funds of £54,412 (2023: £87,667), with unrestricted funds of £13,235 (2023: £9,197) and restricted funds of £41,177 (2023: £78,470) at the year end.

Reserves Policy

The Charity currently has no reserves as we do not have any paid employees, nor do we rent office space, and our administrative outgoings are very limited. In the future, the Charity may retain a small proportion of funds to cover agreed or committed expenditure and reserves to mitigate any identified financial risks.

Plans for Future Periods

TBMT will continue seeking new funding to support increased capacity for local music making so that its activities may benefit even more local young people, as consistent with its business plan, and to this end will ensure that income targets include a proportion of unrestricted funds. Our goal for the next year is to raise funds to employ a part-time fundraiser who can support the Trust’s fundraising activities.

As of 1st September 2024, the new Music Hub geographies came into effect that saw 117 music hubs in England reduced to just 43. The new reality came about following a change of policy by Arts Council England (ACE) and Department for Education (DfE), which now sees music hubs operate across larger geographic areas. RBKC has been appointed as the Hub Lead Organisation (HLO) by ACE/DfE as part of a consortium agreement across seven Local Authorities: Brent, Ealing, Hammersmith and Fulham, Harrow, Hillingdon, Kensington and Chelsea, and Westminster. This covers five existing Music Services/Hubs: Brent, Ealing, Harrow, Hillingdon, Tri-borough. At present there is no change to fundraising of the Triborough Music Trust beyond the TBMH area.

The Tri-borough Music Trust endeavours to open the doors to future collaborations and connections for extending the scope and impact of TBMH’s work. Additionally, a long-term goal for the TBMT is that by securing access to new sources of funding for TBMH, moving forward, the Hub can devote more of its income to partnership working.

Approval

This report was approved by the Board of Trustees and signed on its behalf on [XX] January 2025 by:

Susan Whiddington

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Musical Boroughs Trust Susan Whiddington CBE

Musical Boroughs Trust

Statement of Financial Activities for the year ended 31 March 2024

					Total funds
			Restricted		for the year		Restricted		Total funds
		Unrestricted	income	Endowment	ended	Unrestricted	income	Endowment	for the year ended
	Note	funds	funds	funds	31 March 2024	funds	funds	funds	31 March 2023
		£	£	£	£	£	£	£	£
Incoming resources
Income and endowments
from:
Donations and legacies	3	4,225	4 9,167	-	53,392	906	7 8,276	-	79,182
			4
Total income		4.225	9,167	-	53,392	906	78,276	-	79,182
Resources expended
Expenditure on:
Charitable activities	4	-	86,460	-	86,460	-	18,400	-	18,400
Raising funds		187	-	-	187	455	-	-	455
			8
Total expenditure		187	6,460	-	86,647	455	18,400	-	18,855
			(37,293
Net income/(expenditure)		4,038	)	-	(33,255)	451	59,876	-	60,327
			(3
Net movement in funds		4,038	7,293)	-	(33,255)	451	59,876	-	60,327
Reconciliation of funds:
Total funds brought forward		9,197	78,470	-	87,667	8,746	18,594	-	27,340
			4
Total funds carried forward		13,235	1,177	-	54,412	9,197	78,470	-	87,667

The notes on page 9 to 13 form part of these financial statements.

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Musical Boroughs Trust

Balance Sheet as at 31 March 2024

							Restricted
		Unrestricted	Restricted	Endowment		Unrestricted	income	Endowment	31 March
	Note	funds	income funds	funds	31 March 2024	funds	funds	funds	2023
		£	£	£	£	£	£	£	£
Fixed assets
Tangible assets		-	-	-	-	-	-	-	-
Total fixed assets		-	-	-	-	-	-	-	-
Current assets
Debtors	6	3,850	-	-	3,850	1,044	-	-	1,044
Cash at bank and in hand	7	1,408	49,154	-	50,562	7,619	79,004	-	86,623
Total current assets		5,258	49,154	-	54,412	8,663	79,004	-	87,667
Current liabilities
Amounts falling due within
one year		-	-	-	-	-	-	-	-
Total current liabilities		-	-	-	-	-	-	-	-
Net current assets		5,258	49,154	-	54,412	8,663	79,004	-	87,667
Total assets less current			49,15				79,
liabilities		5,258	4	-	54,412	8,663	004	-	87,667
Funds of the Charity
Unrestricted funds	8	5,258	49,154	-	54,412	8,663	79,004		87,667
Total funds		5,258	49,154	-	54,412	8,663	79,004	-	87,667

The notes on page 9 to 13 form part of these financial statements.

The financial statements were approved by the Trustees on [XX] January 2025 and were signed on its behalf by:

Susan Whiddington

---

Susan Whiddington CBE

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Musical Boroughs Trust

Notes to the financial statements for the year ended 31 March 2024

1. Basis of preparation

1.1 CIO information

Musical Boroughs Trust was registered as a charitable incorporated organisation on 24 May 2019 and is governed by a constitution dated 24 May 2019 and registered with the Charity Commission under charity number 1183585. The Charity’s principal office address is Triborough Music Hub, Lyric, Hammersmith, Lyric Square, King Street, London, W6 0QL.

• 1.2 Accounting convention

The accounts (financial statements) have been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) issued on 16 July 2014 (“Charities SORP (FRS102)”), the UK General Accepted Practice and the Charities Act 2011.

The financial statements have been prepared to give a ‘true and fair’ view and have not departed from the Charities (Accounts and Reports) Regulations 2008.

Musical Boroughs Trust meets the definition of a public benefit entity under FRS 102.

• 1.3 Going concern

The Trustees have at the time of approving the financial statements a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus, they adopt the going concern basis of accounting in preparing the financial statements.

2. Accounting policies

• a. Recognition of income

Income is recognised in the Statement of Financial Activities (SoFA) when:

• the charity becomes entitled to the resources;

• it is more likely than not that the trustees will receive the resources; and

• the monetary value can be measured with sufficient reliability.

b. Grants and donations

Grants and donations are only included in the SoFA when the general income recognition criteria are met (5.10 to 5.12 FRS102 SORP).

• c. Donated services and facilities

Donated services and facilities are included in the SoFA when received at the value of the gift to the charity provided the value of the gift can be measured reliably.

d. Expenditure

Expenditure (excluding grants) is included in the SoFA on an accrual basis.

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e. Liability recognition

Liabilities are recognised where it is more likely than not that there is a legal or constructive obligation committing the charity to pay out resources and the amount of the obligation can be measured with reasonable certainty.

f. Creditors

Creditors are recognised where the Charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors, loans and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.

Financial liabilities are derecognised when, and only when, obligations are discharged, cancelled or they expire.

• g. Provision for liabilities

A liability is measured on recognition at its historical cost and then subsequently measured at the best estimate of the amount required to settle the obligation at the reporting date.

• h. Basic financial instruments

The charity accounts for basic financial instruments on initial recognition as per paragraph 11.7 FRS102 SORP. Subsequent measurement is as per paragraphs 11.17 to 11.19, FRS102 SORP.

i. Tangible fixed assets

They are valued at historical costs. The depreciation policies are disclosed in note 6.

j. Debtors

Debtors are measured on initial recognition at settlement amount after any trade discounts or amount advanced by the charity. Subsequently, they are measured at the cash or other consideration expected to be received.

• k. Fund accounting

All funds received in the year are unrestricted in their application, the Trustees having full discretion over their use.

• l. Critical accounting estimates and judgements

The Trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis.

The Trustees have judged that there are no estimates or assumptions which have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities.

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Musical Boroughs Trust

3. Analysis of income

					Total income	Total income
					for the year	for the year
					ended	ended
					31 March 2024	31 March 2023
	Donations				£	£
	Restricted				4,225	906
	Unrestricted				49,167	78,276
	Total Income				53,392	79,182
	Charitable activities
						Total grant
			Total grant			made
			made for the			for the year
			year ended			ended
	Charitable activities	Grant made	31 March	2024	Grant made	31 March 2023
		£		£	£	£
	Restricted	86,460	86,460		18,400	18,400
	Unrestricted	-		-	-	-
	Total charitable activities	86,460	86,460		18,400	18,400

4. Charitable activities

Charitable expenditure represents grants made to the Tri-borough Music Hub for use specifically towards delivery of its Musical Senses project in order to support local young people with vision and hearing impairments access music education activities.

5. Employees

The Charity has not employed any staff for the year (2023: nil).

6. Debtors and prepayments

Debtors and prepayments
	31	March	31	March
		2024		2023
		£		£
Other debtors–unrestricted		3,850		1,044
Total		3,850		1,044

7. Cash at bank and in hand

Cash at bank and in hand
	31	March	31 March
		2023		2023
		£		£
Cash at bank – restricted		49,154		79,004
Cash at bank – unrestricted		1,407		7,619
Cash in hand		1		1
Total		50,562		86,623

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8. Charity funds

	Fund					Fund
	balances					balances
	brought					carried
	forward					forward
	At				Gains	At
	31 March				and	31 March
	2023	Income	Expenditure	Transfers	losses	2024
Funds	£	£	£	£	£	£
Restricted	78,470	49,167	(86,460)	-	-	41,177
Unrestricted	9,197	4,225	(187)	-	-	13,235
Total Funds	87,667	53,392	(86,647)	-	-	54,412

9. Transactions with trustees and related parties

The Trustees received no remuneration or benefits from the Charity during the year and have not incurred any expenses.

There have been no related party transactions during the year.

10. Post balance sheet event

There are no post balance sheet events that require disclosure.

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