**Musical Boroughs Trust** 

**Registered Charity Number: 1183585** 

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

1 



## **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. 

1. 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<br>9,167|<br> -|53,392|906|7<br>8,276|<br>-|79,182|
||||**4**|||||||
|**Total income**||**4.225**|**9,167**|<br> **-**|**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**|<br> **-**|**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)**|<br>**-**|<br>**(33,255)**|451|59,876|-|<br>60,327|
|**_Reconciliation of funds:_**||||||||||
|Total funds brought forward||9,197|<br>78,470|-|87,667|<br>8,746|18,594|-|27,340|
||||**4**|||||||
|**_Total funds carried forward_**||**13,235**|**1,177**|<br> **-**|**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|-|<br>-|<br>**3,850**|1,044|-|<br>-|1,044|
|Cash at bank and in hand|7|1,408|49,154|<br> -|**50,562**|7,619|79,004|<br> -|86,623|
|**Total current assets**||**5,258**|**49,154**|<br> **-**|**54,412**|8,663|79,004|<br> -|87,667|
|**Current liabilities**||||||||||
|Amounts falling due within||||||||||
|one year||-|-|-|**-**|-|-|-|-|
|**Total current liabilities**||**-**|**-**|**-**|**-**|-|-|-|-|
|**Net current assets**||**5,258**|**49,154**|<br> **-**|**54,412**|8,663|79,004|<br> -|87,667|
|**Total assets less current**|||**49,15**||||79,|||
|**liabilities**||**5,258**|**4**|<br> **-**|**54,412**|8,663|004|<br> -|87,667|
|**Funds of the Charity**||||||||||
|Unrestricted funds|8|5,258|<br>49,154|-|**54,412**|8,663|79,004||87,667|
|**Total funds**||**5,258**|**49,154**|<br> **-**|**54,412**|8,663|79,004|<br> -|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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## **Musical Boroughs Trust** 

## 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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## **Musical Boroughs Trust** 

## **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|<br>4,225|<br>(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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