REGISTERED CIO NUMBER.. CE019129 (England and Walès} REGISTERED CHARITY NUMBER: 1185720 REPORT OF THE TRUSTEES AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024 FOR THE BRITISH KODALY ACADEMY CIO LDP Luckmans 1110 Ellioll Court Coventry Business Park Herald Avenue Coventry Wesl Midlands CV5 6U8
THE BRITISH KODALY ACADEMY CIO CONTENTS OF THE FINANCIAL STATEMENTS for the year gndfjd 30 June 2024 Page Report of the Trustees Independent Examiner's Report ststement of Financial Activitie$ 10 Balance Sheet 11 Notes to the Flnanclal Statements 12 to 16
THE BRITISH KODALY ACADEMY CIO REPORT OF THE TRUSTEES for the year endod 30 June 2024 The trustees present their report with th8 financial statements of the charity for the year ended 30 June 2024. The irustees have adopted the provisions of Accounting 8nd Reporting by Charflies.. Slalemerbl of Recommended Practice applicable lo charilies preparing their accounts in accordanc8 with the Financial Reporting Standard applicable in th& UK 2nd Rèpublic of Ireland IFFiS 1021 leffeclive 1 January 20191. OBJECTIVES AND ACTIVITIES Objoclivès and alms The British Kodaiy Academy is a mLJSiC educational charity, registered Ljnder Charlly number 1185720 8s a charltsble Incorporated Organisation on 9 October 2019. Public beneflt When planning our activities for the year the trustees consider the Charity Commission's guidance on public benefit. 1. The BKA'S aims writh regard to the advancement of musical education in the UK are to give access to an intemalionally highly-regarded approach to music education, in which thé skills and concapts are taught in a structured and progressive way- thus helping to addsS the lack of structure and progression that has been highlighted as a widespread shortcoming in CYent British music gducation provision. The Kodaiy approach, whilst invaluabl@ for music teachers in their work and continued professional developm8nl, offers non-specialists an effective way of developing their own undersianding and their capacity lo teach others. Whilst relevant at all ages, il can be of particular value for Ihosts working with very young and primary age children. Generalisl class leaGhers have usually had very little input on musi¢ lea¢hing in thèir initial training and 8ra often réliant on books and CDS for leaching resources. BKA courses build an understanding of the developrnent of musiGal skills. 2. The BKA'S courses are open to anyone whether wanting to develop Ihelr musical skills and understanding for their own benefit or, as teachers, wanting to improve their teaching skills. We continue lo update our range of provlslon for training and professional development, and to seek opportunities to widen coverage by taking course bookings IhTough schools or music education groups as well as directly from individuals. Our accredited certificate course arrangements, previously organised in a year-long programme format, were re-launched in 2020 as a series of much shorter. self-stsnding modules, making participation opportunities more flexible 2nd financially more manageable for students. Eligibility includes people with little or no previou5 Kodaly training, whilst our Kodaly Cerlificate Foundation Course provides for those wlth no, or very little music Èxperience. For 'live Ir81nlng actlvilies, when possible, the BKA aims to include courses held in differenl parts of the country lo make access easier for people from widely different gèographical locations. Meanwhile accessibility has been markedly improved by the growth in online d&livery of our training, bringing it within reach of people unable to attend courses face-to-face. The majority of courses 8re open to all adults, except where previous èxperièn¢e or study on a previous course is required for entry to a higher level COLJfSe. 3. The 8KA Is addressing a need for musical and pedagogical development, alongside active musi¢ making recognising music's kèy importance in enriching th8 curriculum and in ils wider benefits to overall wellbeing in childhood and later life as allestod by tea¢htsrs and others, and supported by various recent reports. While BKA courses have to be sell-financing in most cases, profit is not a motive, most adminislralive work being done by volunteers who only receive expenses, or a small honorarium in some cases. Profits are sought from other aclivities, such as sales of books and other resources, lo help build a reserve lo be used for development, tutor training and additional help for students. Income from membership subscriptions and donations is used lo meet Gov&man¢e 8nd other Cora expènses. Efforts are made to keep fees lo students as low as possible, and conGessionary price options are usually provided for Ihe main courses, helping lo make them accessible to those on low illcomes. Hardship funding is available to fLJrther benefit those in difficult circumstances. For the BKA'S Summer School usually held annually in August, assistance is also given through the Ce¢ilia Vajda Memorial Scholarship, financed by dedicated donatlons and fund-ralsing, wllh awards made to one or more students in the form of full funding of tuition fees. Grantmaking The BKA is not a grant making charity. Page 1
THE BRITISH KODALY ACADEMY CIO REPORT OF THE TRUSTEES for the year ended 30 June 2024 ACHIEVEMENT AND PERFORMANCE 1.Introductlon 11 is always a grEal pleasure lo prepare our annual report on behalf of the Trustees ané il is always useful lo look b8¢k each yèar to take stock of progress, to reflecl on BKA purposes and how the BKA is responding to the musiG education scene in the UK. Our 2023-24 financial year opened with the second 'in-person' Summer School since tha ènd of the pandèmic. Some 'live' events look place over the year, online classes Gontinued, though fewer in number, and Zoom retaingd ils place for most of our administrative meetings. The Trustees believe that. during 2023-24, the BKA continued to fulfil its mission to disseminate Kodaiis principles and practices and lo promote knowledge and understandlng of his philosophy to many people. They want lo report on Ihe variety of ways in which the BKA continued over tho yéar lo make 8 contribution to music education in the UK and beyond, to support those delivering musiG lessons and lo uphold the cornrllitTllent lo indivlduals looking to develop their own musical skills. 2. BKA Summer School August 2023 The 39th Summer School took place at the University of Re8dlng where w6 enjoyed th6 facilities of Ih muslc dopartment of the Institute of Education. Our link with Rebecca Berkl&y thetB was appreciated, and we welcomed Judy Hildesl@y as our Administrator, to whom we extend huge thanks. We expross gratitude lo our other helpers and lo all members ol our tutor leam. Among these we gladly welcomed Arpad Toth from Hungary, Dr. James Cuskelly from Australia, and Allan HLJbert-Wright from France. It was also a joy to see the relum of Orsolya Szabo Ipianol and Eleanor Meynell (singi}. The Trustees were pleased to award five Cecilia Vajda Memori81 Scholarships ICVMS) which paid Ihe 2023 Summer School luilion fees for five enlhusiaslic people selectecl by the CVMS Panel, lo whom we are vary grateful. The utmost care and appreciation go into the consideration of every applicalior) and the standard of applications was impressively high. The 2023 CVMS Awards were particularly significant as it was the year in which we celebrated the centenary of Cecilia Vajda's birth. The Summer School choir, directed by Esther Hargillai, rehearsed and performod one of Cecllia's f8vourfte Kodaly pieces.. Szépszavu Muzsal (Rectius Vivesl - Horalii Caffllen11.10. 3. BKA Members, Dayi October 2023 Our stimulating day at Victoria Hall in Sheffield in October 2023 openéd and closed with dalightful singing togèther led by Chris Andrews,. Carole Wileman shared her experience of starting her Kodaiy joumey and how she SL¢rvived Ofsted visits,. Rachel Chambers and Dominic Harlan told how they had gone from zero to full speecl ahead on Ihalr Kodaiy journ6y, which started during lockdown- Margaret Oliver offered her presentation about how the BKA came into being- first given at the International Kodaly Symposium in Los Angalès (July 20231. It was good lo be together with conversation and song a most worthwhile way to reinforce cohesion and Kodaiy-inspired sharing amongst members and their friends. 4. Spring Weekend, April 2024 Having dipped our toes In the w8t&r by holding an Aprll Taster Day in 2023, we ventured further in April 2024 by holding a Spring Weekend al Fulham Girls, School, an excellent v&nue. The BKA Education Planning Board designed an excellent programme which was fully appreciated by all attondees. Appli¢ations were not as high in number a5 hoped for - a waming sign that all was not as it had been pre-pandemic, and that thè cost of living was still a real ¢oncem. S. Muslelanship classes Musicianship is al Ihe heart of the Kodaiy philosophy and is ahvays such a fo¢al part of th& Summer School. As well as proving helpful for individuals who are looking lo develop their own musical skills, musicianship is an integral part of the requirements of the Kodaiy Certificate Course. During the 2023 24 year we continuad to offer Onlin8 Musicianship classes, although numbers were Iow8r as people became more Involved in active live5 again. It ¢ertainly made sense lo share classes with the National Youth Choir of Scotland {NYCoS), r8ther than both organisations run all levels. For the Summer term 012024. we decided on a complete break frorn online classes. Page 2
THE BRITISH KODALY ACADEMY CIO REPORT OF THE TRUSTEES for tho yoar èndèd 30 June 2024 6. Brltl$h Kodaly Certificate. We ar6 6nom)ously pleased to have been able lo support so many teachers with their CPD. The courses ave enabled many to develop Kodaly-based programmes in their schools and sb'mulate children's musical journeys. During the course of the year, the thinking of the Education Planning Board moved increasingly towards the value of in-person sessions and their benefit both for students in practising I demonstralillg material, and for tutors in assessing their t6aching techniquas. Preparations were made for the Summer School of August 2024, Iln the next flnancial yearl to offer three hAethodology modules of tho Gertificate Course.. Early Years lev812., Primary level 3.. Secondary level 3. with the aim of eompletion within the Summer School timetable. 7. Membèrs Our gteful thanks go to the BKA'S Membership Secretary, Sally Edwards, who is also one of the Truslees. As well as all the 8dmlnlstr8tion connected with her membershlp role, she makes a hugely valuable conlrsbulion more widely behind the Sne$. Membership numbers are not stati¢, as people can join through the website at any time of the year, and many appreciate the facility to pay quart8rly rather than annually. Membership numbers and new ways to attract rnembers are under review. As well as a BKA Members. Fabook page la closed group of some 112 members) and an open British Kodaiy Academy page {a public group revised as 'Discussion Croup with some 566 members), we now have a Ihlrd Facebook group page - crealeé as a plalfomi for advertising and selling books which frees up the "open" page for discussion We continue both our X Iformerly Twillerl and Inslagram accounts very graleful thanks are extended to the BKA members who look after these lines of communication. Wé recognisÉ th8t BKA members, wherever they live, are all creatin9 awareness of the Kthaly approach in their particular sphere of work and activity. You are all much appreciated, even if not singled out by name. Your membership reflects the value placed on this 8ppro8ch and affirms bolief in the Kodaly philosophy. 8. Wabsita Huge apprecielion is due lo Emma Ede for sharing her technology skills with us 2nd giving so much of her time lo looking after our website, to co-ordinating our s181 media platforms and mainlaininy our corporale image. We have a huge general e-mailing list. and of COUTse Some mail chimps are designed specifically for our members all set up by Emma whose work behind the scenes has included her beautiful Summer School photographs and blogs. We are grateful that Emma contributes so much for the BKA amidst all the demands of her leaching job. As the BKA worf(load IncaSe8. the Trustees have been actively working on ways to move from an èntirely volunteer org2nisalion to one where a paid adminislralor could be employed. and how this could be sustained. 9. Katalin Forrai Award In July 2023, the 6th Katalin Forrai Award was presented to Judith Johnson {Australia} Dominika Lenska (Polandl at the IKS Symposium in Los Angeles. The BKA'S congratulations are extended to them both. The Cc>mmiti@e of the International Katalin Forrai Award. chaired by BKA Honorary Life Member Mary Place. invited nominations for the 7th award, which wll be presented al Ihe 2025 Symposium in Hungary. 10. Edu¢atlon scene Th6 British Kodaly Academy is pleased to be linked lo the International Koda Society and to be its Affiliated National Institutional Member IANIMI for Ihe UK. At home, the BKA remgins a Corpc>r8t8 M8mbèr of both ISM and MEC, and we're grateful that these organisalions keep us informed on all current 18suos. They work tirelessly to keep in Ihe government's focus the importance of muslc edLJcation. 8s doas also Maklng Muslc which continues lo infomi and support our administration queries. We continued to have 2 presence at the anrbual Music and Drama EdLtcation Expo.. manning a sland for two days in February 2024, responding lo enquiries about our cour5e5 and Ihe Kodaly philosophy. We also had a stand at the Music Teachers, Association annual conference in May 2024, our second time at this event. We responded lo many enquiries, and enjoyed meeting student teachers of RebeGca Berkley who were there with their children lo present a demonstration of rnusicianship teachlng Page 3
THE BRITISH KODALY ACADEMY CIO REPORT OF THE TRUSTEES for thè year end8d 30 June 2024 The BKA'S Bookstore continued lo flourish, as lea¢hers and others searched for publications of quality 2nd value. 11 is alayS good to sea delagatès at the Summar School using the opportunity to browse in-person 11. TNstee matters The Trtjstees during 2023-24 focused on G0Veman & Strategy, with day-to day running delegated to the Operations Team, and detailed planning work to the Educatlonal Planning Board IEPBI. These 8Yrangemenls contlnue in place. After the AGMS in April 2023. wo werg dglighted lo wel¢ome Peryn GlementEvans lo assist with financial matters and begin work with John selling up a digital bookke8ping system. The Trustees continue lo search lor a Finance Lead Trustee., continue 10 8ss¢ss the success of our interactions thith our Stakeholders and how we can improve- have r8viowed the BKA Policies., have been exploring fundraising possibilities and ways lo develop our administration in response to increasing needs. Page 4
THE BRtTISH KODALY ACADEMY CIO REPORT OF THE TRUSTEES for the yèar endèd 30 June 2024 FINANCIAL REVIEW Financial positlon The accounts show a slight decline (some £1,600) in the level of BKA total funds between the beglnnlng and end of the financial year 2023-24. Amongst training and workshop activities during the year, planning of the Summer School posed challenges of higher costs and henGe higher allendan¢e charges, but the event held al Reading Univèrsity in August was well supported and totsl incomè camè out significantly higher than the expenditur&. However, the non-residential Spring Weekend at Fulham, though su¢cessful as a course and much appreciated by those who were there, did not attract enough bookings lo cover Its costs. Aside from those sel-pi8¢8 BKA training èvants, the short courses that were run in Musicianship, modules for various Certificate Course categories, and the Foundation Course, generated a surplus sorllewhal highèr than in the previous year, though 8t a lower l@vel of tot818Ctivity and student uptake as illustrated by turnover Ic £23,000 against £37,000 in 20221231. This Game mainly from online courses Iwhich were only offered during the autumn and, to a lesser extent, in the sprlng term - none in the summer lerml, but also in part from live classes for teachers, commissioned from the BKA under local Music Hub arrangamanls. Book sales turnover was slightly higher than in 2022-23 bL¢t the Bookstore operation's overall nel Contribution to BKA funds was lower Ic £600 compared to £3,000), after taking into account a reduction of some £2,000 in the stock valuation al June 2024 compared to June 2023. Membership subscripllon r6ceipts were very similar lo those in the previous year and, together with donations received and Gift Aid olaimable from HMRC, gavé 8 total of c £12,500. This represents the income available to sel against the BKA'S running exponses and was just sufficienl to cover the yearfs governance and administrative support Gosts. ReseNes pollcy The aim is to hold a reserve equivalent lo 3 months, budgeted expenditure plus an allowance for potential admln costs in the event ol winding-up ol the organisalion, and lo keep enough surpluses for immediate projects. Taking actu81 figures for 2023-24 as a main guide, the resorve required al the yearend would be approxim8t8ly £39,000. The actual position al Ihal date more than satisfied this.. thè to121 of unreslricted funds. excluding money tied in stocks, stood at around £103,000. Re$tri¢tgd fund The fund reserved for Cecilla Vajda Memoria5 Scholarship awards, standing al £1,816 wh8n thè year began, had £3,931 income during 2023124 from dedicatèd donations and fund-raising proceeds recoived expressty for the scholarship fund. Scholarships wgre awarded lo five selected applicants covering their tuition fees al the Summer School in August 2023, ulilising £2,445 from the fund. so that the Reslrided Fund balance cgrrièd fonN8rd at the year-&nd was £3,302. Scholarship awards from the fund for the next SLsmmer School IAugusl 20241 belong lor 8¢¢ounling ptjrposes in the next financial yèar, 2024-25. STRUCTURE. GOVERNANCE AND MANAGEMENT Govèmlng document The charity is controlled by its governing document, a deed of trust, and constitutes 8 charitable incorporated organisalion. limited by guaranl&e, as defined by the Charilies Act 2011. Page 5
THE BRITISH KODALY ACADEMY CIO REPORT OF THE TRUSTEES for the year ended 30 June 2024 STRUCTURE. GOVERNANCE AND MANAGEMENT Management and Governance Arrangewnents The Executive Committee is Composed of élècted membèrs, minimum of three and maximum of nine, who undertake to carry out all the running of the organisation on a voluntary basis, either by carrying out the work themselves, or by appointing others lo do it. Officers and Trltslees 8re 8ppointed al the AGM. If a new trustee is appointed after the AGM they musl resign or be confimied al the next AGM. A Thember of the éxècutivè committèè automatically bscomas a truste8. The BKA has no fixed premises bul organises courses and workshops in Kodaly Musicianship and Pedagogy in different ventjes in areas where a need is presonl and where a viable course can be run, usually with the help of a local representative who is a member of the BKA or In sympathy with ils alms. All courses are Intended to be self-financing. Risk Management The trustees have assessed the major risks to which the charity is expased in particular those relating to operations and finance of the Trust and are salisfied that systems are in place to mitigate their exposLJre to major risks. Statement of Trustèe$' ResponslbilltÉes Charity law requires the trustees to prepare firnancial slalemen15 for each financial year which show a true and fair view of the state of affairs of the charity and ils financial 8clivities for that period. In preparin9 those financial statements. the Iruslees are required to.. Selscl sull8ble accounfjng policles and then apply them consislenlly.. Make judgements and estimates that are reasonable and prudent- State whethèr applicable accounting standards and statements of recommended practice have been followed, subject to any deparlures disclosed and explained in the financial slaternenls.. and Preparing the financial statements on the going concem basis unléss it is inappropriate to presume that the charily will continue in operational existence. The trustees are responsible for keéping prop8r accounting records which disclose with reasonable accuraGy at any lime the financial position of the ¢harily and lo enable them to ensure thal the financial sialements comply wth the Charities Act 2011. They are alsts responsible for saf6guarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and oth8r irrègulariti8S. REFERENCE AND ADMINISTRATIVE DETAILS Registered CIO numbèr CE019129 (England and Wales) Reglster&d Charlty number 1185720 Reglstered office 58 Frankton Avenue Coventry Wesl Midlands CV3 5BB Page 6
THE BRITISH KODALY ACADEMY CIO REPORT OF THE TRUSTEES for the year ended 30 June 2024 Trustees Oliver J Oliver D Gr8énhalgh S M Edwards Patrons t4Ame Sarolla Kodaiy George Gaird Bob Chllcoll Dr Douglas Coombes Ivan Fischèr Gilbert de Greeve David Hill Dr Laszlo Nort)ert Nem8S Honorary Presldent Gillian Earl GRSM LRAM Ad Dip BKA CKME Independent Examln6r LDP Luckmans 1110 Elliott Court Coventry BusingS8 Park Herald Avenue Coventry West Midlands CV5 6UB Appreciation and Concluslon None of the activities reptsrted here would have been possible without the teamwork and shared vision of the EPB, Operations Téam and Trustees, whilst both our online and in-pgrson classes have continued to be apprèciated thanks to the expertise, Imthglnallon 8nd dadlcation of our increasino number of tutors. Heartfelt thanks go to everyone. even rf not méntioned by name Individually. We are privileged that Lucinda Geoghegan leads our education programrne - her vast professional experi8nce keeping us focused on the heart and essen¢e of the Kodaiy approach. Financial stability is Gruejal, and enormous thanks go to John Oliver for his caroful and thorough work a5 Treasurer. We believe our report depicts a strong organisation. actively furthering our Objectiv with the ovents we have ofF6red, developing thè range and scale of what WE do, and extendlng our outreach. However. it remains true lo say that more volunteers are needed, in combination Iw6 hope) with some paid administrativé support. Plang for 2024 - 25 include further In-person courses. with a n9w venue for the Summer School, in-person Foundation Courses-, the conbnualion of the GVMS and, of course, the inolu2ion of another Members, Day. W8 look fOard lo conlintJing to disseminate Kodaly's principles and pracllcos, and to pmmote know5édg& and understanding of his philosophy to as many individual teachers and organlsstions as we can, at a time when the place of craative subjects remains such a vital and pressing issue in our education scene. Margaret Qliver, Chair of Trustees January 2025 Ae 11....Fek*&Fy 2025',and signéd on Its behalF by. Approved by order orthe board of trustees on P8ge 7
THE BRITISH KODALY ACADEiVIY CIO REPORT OF THETRUSTEES for the year ended 30 June 2024 Trustee Pag8 8
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE BRITISH KODALY ACADEIVIY CIO Independent examlner's report to thé trustées of The British Kodaly Academy CIO (Ihe CIO'I I report lo the ¢harily trustee8 on my 8xaminalion of the accounts of the CIO for the year ended 30 June 2024. Responsibililies and basis of r8POrt As the Gharily's Iruslees ol the CIO you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 I'lhe 2011 Act.) Having satisfi'ed my8elf that the acGounts of the CIO are not required to be audited under the 2011 Act and ar8 eligible for ind$p&ndont oxaminalion, I report in respect of my examination of your charity's accounts as carriéd out under Seolion 145 of the Charities AGI 2011 1'th• 2011 Act'l. In carrying out my examir)ation I have followed the Directions given by the Charity Commission under Soction 145151 Ibl of the 2011 AGI. IndÈpèrÈdÉnt èxamlnèr's statement I have completed my examination. I confirm that no matters have cotne to my attention in connection with the examlnalion giving me cause to believe.. ac¢ounling records were not kept in respect of the CIO as required by SeGtion 130 of the 2011 Act. or the accounts do not accord with thos8 records., or th¢ aGcounls do not Gomply with the applicable requirements concèrning th6 fom) and content of aceounls set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the awounts give a true and fair view which is not a matter considerèd as part of an independent examlnation., or the accounts have not been prepared in accordance with the méthods and principles of the Statement of Rècomm&nded Practice for accounting and reporting by charities (applicable to charities preparing their accounts in acGoidanGe with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021). I have no concerns and have come across no other matters in connection with the examln8tlon lo whlch attention should be drawn In Ihls report In order to enable a proper understanding of the accounts to be reached. D Spafford FCCA FCA LDP Luckmans 1110 Elliott Court Coventry Business Park Herald Avonue Coventry West Midlands CVS 6UB Date.. . ISTr IPAI &k2025. Paga g
THE BRITISH KODALY ACADEMY CIO STATEMENT OF FINANCIAL ACTIVITIES for the year ended 30 Junè 2024 2024 Total funds 2023 Total fvnds Unrestricted fund Restricted fund Notes INCOME AND ENDOWMENTS FROM Donations and legacies 8,527 3,931 12.458 129.372 Charitable activltles General 95,452 95,452 101.651 Other Iradlng activities 16.027 16,027 15,198 Total 120,008 3,931 123 937 246,221 EXPENDITURE ON Raising funds 17,049 17,04S 13,377 Charitablè 8cliviti&s General 106.070 2,445 108 515 114,169 Total 123,119 2,445 125,564 27,546 NET INCOMEIIEXPENDITUREI 13,113 1,486 11,6271 118,675 RECONCILIATION OF FUNDS Total funds brought forward 116,859 1,816 118,675 TOTAL FUNDS CARRIED FORWARD 113,746 3,302 117,048 118,675 The notes form part of the financial statements Page la
THE BRITISH KODALY ACADENY CIO BALANCE SHEET 30 June 2024 2024 2023 Totsl funds Unreslricled fund Restricted fund fund5 Notes CURRENT ASSETS Stocks Debtors Cash al bank 10,221 17,299 115,441 10,321 17,299 118,743 12,486 16,279 137,165 3.302 143,061 3,302 146,863 165,930 CREDITORS Amounts falling due within one year 129,3151 129,3151 147.255) NET CURRENT ASSETS 113,746 3.302 117,048 118,675 TOTAL ASSETS LESS CURRENT LIABILITIES 113,746 3,302 117,048 118,675 NET ASSETS 113,746 3,302 117,048 138,675 FUNDS Unrestricted funds Restrieted funds 113,746 3,302 116,859 1,816 TOTAL FUNDS 117,048 118,675 The charilahle incorpomted organisalion is entitled to exemption from audit undor the Charities Act 2011 for th& year ended 30 June 2024. These financial statements have been prepad in accordance wllh the provisions applicahle to charitable incorporated organisalions. The financial statements were approved by the Board of Tru51ees and aulhorised for issue on .A.'l.....Fe• 2025 and were signed on its behalf by.. M Oliver- Trustee - l The notes form part of these financial stat8m¢nls Page11
THE BRITISH KODALY ACADEMY CIO NOTES TO THE FINANCIAL STATEMENTS for the year ended 30 June 2024 ACCOUNTING POLICIES Basis of preparing the finanGial statement5 Tho finanGial statements of tha charitable incorporated organisalion, which Is a public banefit entity under FRS 102, have been prepared in aocordance with the Charities SORP IFRS 1021 'Accounling and Reporting by Charities.. Stslement of Recommended Practice applicable lo charities preparing their accounts in 8ccordan¢e with the Financial Reporting Standard applicable in ttrie UK and Republic of Ireland IFRS 1021 lèffectiva 1 January 2019),, Financ(al R@porting Standard 102 'Th6 Financlal Réporting Standard applicable in the UK and RepLiblic of Ireland, and the Claritles Act 2011. The financial slalements have been pr¶d under the historical cost conv8ntlon. Income All income is recognised in the Statement of Financial Activities once the charity has entitlement lo the funds, it is probabl& that the income will be received and the amount can be measured reliably. Expenditur• Liabilities arÈ rÈcognised as expenditure as soon as Ihare Is a legal or constructive obligation committiyg the Ghartly to that expenditure, It Is probable that a transfer of economic benefits wlll bo required in selllem8nt and the amount of the obllgation can F)e measured reliably. Expenditure is accounted for on an acewals basis and has been olassified undèr headings Éhat aggregate all cost related to ths category. Where Gosts.cannot be directly attributed to parttcular headings they have been alloGal$d to activities on a bagis consistent with the use of resources. stoeks stocks are valued at the lower of cost and nel realisable value, after making due allowance for obsolet6 and slow movlng items. Taxatlon The charily ls exempt from corporation tax on ils charitable activities. Fund accountlng Unrestricted funds can be used in accordance with the charitable objectives at thé discretion of the trustèes. R6slricled funds can only be used for particular restricted PLtrposes Mqthln the obloGls of the charity. Restrictions arise whan specified by the donor or when funds are raised for particu12r restricted purposÈg. Further explanatlon of the nature and purposg of aach fund is inGluded in the notes to the financial statements. OTHER TRADING ACTIVITIES 2024 2023 Sale of music bocbks & vsdeos 16.027 15,198 Page 12 continued.
THE BRITISH KODALY ACADEMY CIO NOTES TO THE FINANCIAL STATEMENTS . continued for the year onded 30 June 2024 NET INCOMEIIEXPENDITUREI Net incomellexpenditurel is stated after ¢h8rgingl(creditingl'. 2024 2023 Independent examiners fees 1,952 TRUSTEES. REMUNERATION AND BENEFITS There were no lyuslees, remuneration or other benefits for the year ended 30 June 2024 nor for the year ended 30 June 2023. Trustaes. gxpfynsgs 2024 2023 Truslees. expenses 2,684 703 DLJring thè y6ar, the CIO paid Trust8Ès expènsès of £nil {2023..£223} COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES Unreslrictsd fund Restricted fund Total funds INCOME AND ENDOWMENTS FROM Donations and legacies 125,600 3,772 129,372 Charltablè activities Goneral 101,651 101,651 Other trading activib'es 15,198 15,198 Total 242,449 3,772 246,221 EXPENDITURE ON Raising funds 13,377 13,277 Charltablo activlties General 112,213 1,956 114,169 Total 125,590 1,956 127,546 NET INCOME 116,859 1,816 118,675 TOTAL FUNDS CARRIED FORWARD 116,859 1,816 118,675 Page 13 continu8d...
THE BRITISH KODALY ACADEMY CIO NOTES TO THE FINANCIAL STATEMENTS . continued for the year ended 30 June 2024 STOCKS 2024 2023 Stocks 1 Ql,321 12,486 DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2024 2023 Other debtor5 Prepayments 1,753 15,546 1,000 15,279 17,299 16,279 CREDITORS: AMOUNTS FALLING DUE WTHIN ONE YEAR 2024 2Q23 Accruals and deferred income 47.255 MOVEMENT IN FUNDS Net movement in funds At 30.6.24 At 1.7.23 Unrestricted funds General fund 116,859 13.1131 113,746 Rastrictad funds CVMS 1,816 1,486 3.302 TOTAL FUNDS 118,675 1,6271 117,048 Net movement in funds, inGluded in the above are as follows.. Incoming resources Resources expended Movement in funds Unrestricted funds General fund 120,006 1123,1191 13,1131 Restrictad funds CVMS 3,931 12,4451 1.486 TOTAL FUNDS 123,937 125,5641 1,627} Page 14 continued...
THE BRITISH KODALY ACADEMY CIO NOTES TO THE FINANCIAL STATEMENTS- continuod for the year ended 30 June 2024 MOVEMENT IN FUNDS - continued Comparafjves for movement In funds Nel movement in funds Al 30.6.23 At 1.7.22 Unreslricted funds General fund 116,859 116,859 Restricted funds CVMS 1,816 1,816 TOTAL FUNDS 118,675 118,675 Comparative nel movement in funds, included in the above are as follows.. Incomlng resources Resources expended Movement in funds Unrestricted fund5 General fun 242,449 {125,5901 118,859 Restricted funds CVMS 3,772 11,9561 1,816 TOTAL FUNDS 248.221 127,546) 118.675 A current year 12 months and prior year 12 months combln6d positlon is as follows.. Nel movement in funds Al 30.6.24 At 1.7.22 Unrestri¢ted funds General fund 113.746 113.746 Restricted funds CVMS 3,302 3,302 TOTAL FUNDS 117,048 117,048 Page1S conlinud...
THE BRITISH KODALY ACADEMY CIO NOTES TO THE FINANCIAL STATEMENTS - continued for the year ended 30 June 2024 MOVEMENT IN FUNDS- contlnued A current year 12 months and prior year 12 month5 CObIned nel movement in funds, included in the above are as follows.. Incomlng resources Resources expended Movement in funds Unrestrlcted funds General fund 362,455 1248,7091 113,746 Restricted funds CVMS 7.703 14.4011 3.302 TOTAL FUNDS 370,158 253,1101 117.048 The G&neral fund reprosenls the free reserves of the charity Ihat are not designated or restricted for particular purposes The Cecilia Vajda Memorial Scholarship ICVMSI reslricled thnds reprèsents donations received to provide scholarships which pay for the tuition fees on specific Kodaly courses following an annual application and selection process. RELATED PARTY DISCLOSURES There were no related party transactions for the year gnded 30 June 2024. Page 16