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2022-08-31-accounts

Charity Number: 1189066

RICHARD SHEPHARD MUSIC FOUNDATION

(Charitable Incorporated Organisation)

REPORT AND FINANCIAL STATEMENTS

for the period ended

31 August 2022

RICHARD SHEPHARD MUSIC FOUNDATION Charity Number: 1189066

REPORT AND FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 AUGUST 2022

CONTENTS Page
Chairman's Report 1 - 3
Trustees' Report 4 - 7
Independent Examiner's Report 8
Statement of Financial Activities 9
Balance Sheet 10
Notes to the Accounts 11 - 17

RICHARD SHEPHARD MUSIC FOUNDATION

CHAIRMAN’S REPORT FOR THE PERIOD ENDED 31 AUGUST 2022

Chairman’s Report for the period ended 31 August 2022

The Foundation was established to recognise and build upon the work of Dr Richard Shephard, a distinguished composer, conductor, teacher and administrator, who died in February 2021.

The Vision.

A world where all children and young people can experience and enjoy music and can develop their musical talent.

The Mission.

Richard’s ambition for the Foundation is its mission: -

To bring the experience and enjoyment of music to children and young people in Yorkshire and beyond, while working with academics to understand the benefits which music can bring to children’s learning, creativity and wellbeing.

It was in August 2021, after the Trustees had secured sufficient funding, that the work of the Charity really got underway. The Foundation’s Schools Programme was established and delivery partner Sing Education was contracted to provide music across all the Foundation’s partner schools. Schools contribute to the cost of providing the curricular element of the programme and a subsidy is provided by the Foundation. Alongside the Schools Programme, the Foundation started to introduce opportunities for children to take part in community music activities, supported by the Ryedale Festival, our partner for this.

What has been achieved over the last year?

By the end of September 2022, 12 partner schools had already signed up and about 2,500 children across the region were receiving weekly music sessions, singing assemblies and access to a music club or choir. The focus was on schools in disadvantaged or isolated areas to help address inequality in access to music.

120 children sang in York Minster as part of Make Music Day:

A headteacher from one of our partner schools, said:

“We had a fantastic time celebrating Make Music Day at York Minster. It was a wonderful opportunity for the children to come together with pupils from other schools to share their love of music. Being able to do this in such a beautiful setting made it even more special and memorable.”

Video here: https://www.youtube.com/watch?v=rFot79_NHI4

1

RICHARD SHEPHARD MUSIC FOUNDATION

CHAIRMAN’S REPORT FOR THE PERIOD ENDED 31 AUGUST 2022

Thirty children took part in a writing workshop to help create a piece that they then performed to a full house during the Ryedale Festival . Video here: https://youtu.be/Zgyva7Y6-t4

50 children attended two holiday clubs, with guest professional musicians arranged by the Ryedale Festival .

Roberts Balanas, Violinist, said:

“ It was fantastic to see the brilliant work the Foundation does and an absolute privilege to be a small part of it. The youngsters were so curious and keen to participate and sing along. It reminds me how crucial it is to have music education be accessible to kids at a young age.”

Four music specialists were recruited and trained by our delivery partner Sing Education , to work across the Foundation’s partner schools.

Music sessions are progressive, fun and inclusive, and all children get the opportunity to sing, play, create and perform. Lessons are singing-based and draw on the Kodály approach which is suitable for all ages and can be applied to many different types of music.

What difference has the Foundation made?

To monitor the success of the Foundation’s work and to help inform future development, leaders from our schools were asked about the effectiveness of the programme.

Some of the comments have been heartening: -

Feedback from children:

“I feel full of energy. When I go into music, I’m quite tired, but when I come out, I’m full of energy.” “I like that we get to sing a lot. It makes me feel better about myself.”

The Foundation’s full Impact Report for 2021/22 can be found at rsmf.org.uk or here – - https://www.rsmf.org.uk/our impact

2

RICHARD SHEPHARD MUSIC FOUNDATION

CHAIRMAN’S REPORT FOR THE PERIOD ENDED 31 AUGUST 2022

Looking Ahead

RSMF is but young and there are many challenges ahead, but in its first full year of operation, the Trustees feel that a solid start has been made and the foundation stones have been well laid. The National Plan for Music Education, published in June 2022, is a very encouraging development as it strongly advocates weekly music lessons in primary schools and serves to reinforce the Foundation’s efforts in the future.

Funding

Like so many charities, the Foundation is not supported by any endowment funding and must rely on the generous donations from individuals, trusts and corporations to sustain its operations. For this sustainability to continue, the Trustees aim to ensure that, at the beginning of each financial year (1[st] September) they have reserves to cover two years’ running costs. It is pleasing to be able to report that, while under serious financial constraints, all the Foundation’s partner schools have agreed to continue with the programme in the following year.

Thank you

The Foundation’s mission may be simple – bringing music to children , but the execution of it requires skill and hard work. The Trustees would like to thank all those who have supported it throughout the last year - a magnificent effort. Jonathan Shephard stepped down as a Trustee of the Foundation in September 2022 and the Trustees would wish to thank him for all his considerable help and support during the period in which it was being established. Special thanks must also go to Cathy Grant (general manager) and Caroline Needham (administrator), who have done so much to build the operation into what it is today, but without the generous funding, which has been achieved, there would be no Foundation, so to all who have contributed, heartfelt thanks are due.

Michael Benson MBE Chairman

3

RICHARD SHEPHARD MUSIC FOUNDATION

TRUSTEES’ ANNUAL REPORT FOR THE PERIOD ENDED 31 AUGUST 2022

The Trustees present their annual report together with the financial statements of the Charitable Incorporated Organistation (CIO) for the period from 1 April 2021 to 31 August 2022. The financial statements have been prepared in accordance with statutory requirements, the CIO’s governing document and the Statement of Recommended Practice: Accounting and Reporting by Charities (SORP FRS 102).

Reference and Administrative Details of the Charity, its Trustees and Advisers

Charity Name and Number

Richard Shephard Music Foundation: registered charity number 1189066 (Charitable Incorporated Organisation)

Correspondence Address

9 Minster Yard, YORK, YO1 7HH

Trustees

The Hon Michael Benson MBE (Chair) The Very Revd Dominic Barrington (appointed 1 January 2023) Phillip Breen Sir Ron Cooke Professor Lynne Dawson Richard Grosberg (appointed 1 January 2023) Jonathan Shephard (resigned 1 September 2022) Edward Young

Bankers: Lloyds Bank, 1 Legg Street, CHELMSFORD, Essex, CM1 1JS

Independent Examiner: Adrian Rodaway BA, BFP, FCA, DChA, HPH Chartered Accountants, 54 Bootham, YORK, YO30 7XZ

Structure, Governance and Management

Nature of governing document

Richard Shephard Music Foundation is a Charitable Incorporated Organisation (CIO) governed by a foundation model constitution. The Charity was registered on 15 April 2020.

Recruitment and appointment of trustees

The Foundation must have no fewer than three Trustees and no more than eleven Trustees. The Trustees are the Members of the Foundation. The composition and skill base of the Trustee body is reviewed at least annually, with the aim of ensuring the mix of skills and experience needed to run the Foundation effectively. Trustees are appointed by the Trustee body for a period of up to three years, and may be reappointed.

4

RICHARD SHEPHARD MUSIC FOUNDATION

TRUSTEES’ ANNUAL REPORT FOR THE PERIOD ENDED 31 AUGUST 2022

Objectives and Activities

The principal objects as stated in the governing document are to advance the musical education of children and young people in Yorkshire and such other areas as the trustees shall from time to time determine, by enhancing the knowledge, experience, enjoyment, understanding and performance of music, including through some or all of tuition, master-classes, events, concerts and the use of assistive technology.

The Trustees believe they 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 regard to public benefit.

Achievements and Performance

During 2021/22, a strategy was developed to define priorities for the year including:

Charitable Activity

Finance/Fundraising

5

RICHARD SHEPHARD MUSIC FOUNDATION

TRUSTEES’ ANNUAL REPORT FOR THE PERIOD ENDED 31 AUGUST 2022

Achievements and Performance (continued)

Marketing

The Foundation has developed a website and social media presence.

www.rsmf.org.uk

https://www.facebook.com/RichardShephardMusicFoundation/ https://www.instagram.com/richardshephardmusicfoundation/ https://www.linkedin.com/company/richard-shephard-music-foundation https://twitter.com/MusicShephard

Plans for Future Periods

During 2022/23, the Foundation hopes to increase its Schools Programme to reach 5,000 children.

Events in 2023, such as Make Music Day and the Ryedale Festival, will allow children further performance opportunities. A Ryedale Primary Choir will be introduced, in partnership with the Ryedale Festival, and a programme of music holiday clubs will continue.

A review of governance policies and procedures (undertaken during 2021/22) was an opportunity to reflect on the governance arrangements of the young organisation, ensure compliance in all compulsory areas, and map out a series of actions for the coming year, to make sure best practice is followed. During 2022/23 an induction programme will be introduced for new trustees and a series of policies will be put in place to reflect the growing organisation.

A session focussing on the Foundation’s strategy, to be held in early 2023, will look to inform a longer term (3 year) business plan, help to focus the charity’s resources and establish the future direction. It will include a longterm fundraising strategy and an assessment of opportunities and challenges.

A scheme to promote regular giving will be set up during 2022/23 and the Foundation participated in the Big Give Christmas campaign in December 2022.

Financial Review

Like many other charities, the Foundation is currently almost entirely dependent on donor income to allow it to operate. Since the charity was first established in 2020, some £500,000 has been raised from private donors and trusts, in memory of the late Dr Shephard.

The total funds held by the Charity at 31 August 2022 amounted to £301,841, all of which were unrestricted reserves. Free reserves, not tied up in fixed assets, amounted to £300,576.

The budget for the financial year to 31 August 2023 shows a surplus of £165,000 which would further increase the level of reserves. This will allow the Foundation to start planning activities for the next financial year ending 31 August 2024.

6

RICHARD SHEPHARD MUSIC FOUNDATION

TRUSTEES’ ANNUAL REPORT FOR THE PERIOD ENDED 31 AUGUST 2022

Financial Review (continued)

As the Schools Programme grows, the level of income from schools (who contribute towards the provision) will also start to grow.

Reserves policy

The Trustees believe that to expand its operations and ensure sustainability they should seek to ensure that at the start of each new financial year there are reserves available to allow it to operate for a further two years. Given the budgeted surplus of £165,000 for the year ending 31 August 2023, the Foundation’s reserves at the time of submitting these accounts totalling £301,841 are more than sufficient to operate on this basis.

Statement of Trustees’ Responsibilities

Charity law requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the charity’s financial activities during the year and of its financial position at the end of the year. In preparing the financial statements, the Trustees are required to:

The Trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy the financial position of the charity and which enable them to ensure that the financial statements comply with the Charities Act 2011. They are responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Signed on behalf of the Trustees on 8 February 2023.

The Hon Michael Benson MBE Chair

7

INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES OF

RICHARD SHEPHARD MUSIC FOUNDATION

I report to the trustees on my examination of the accounts of Richard Shephard Music Foundation for the period from 1 April 2021 to 31 August 2022.

This report is made solely to the Charity's Trustees, as a body, in accordance with Section 154 of the Charities Act 2011. My independent examination work has been undertaken so that I might state to the Charity's Trustees those matters I am required to state to them in an Independent Examiner's Report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the Charity and the Charity's Trustees as a body, for my independent examination work, for this report, or for the opinions I have formed.

Responsibilities and basis of report

As the charity trustees of the Charity you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the Act’).

I report in respect of my examination of the Charity’s accounts carried out under section 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 145(5)(b) of the Act.

Independent examiner’s statement

Since the Charity’s gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of the Institute of Chartered Accountants in England and Wales, which is one of the listed bodies.

I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

  1. accounting records were not kept in respect of the Charity as required by section 130 of the Act; or

  2. the accounts do not accord with those records; or

  3. the accounts do 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 connection 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.

Adrian Rodaway BA, BFP, FCA, DChA HPH, Chartered Accountants 54 Bootham YORK YO30 7XZ

8 February 2023

8

RICHARD SHEPHARD MUSIC FOUNDATION

STATEMENT OF FINANCIAL ACTIVITIES FOR THE PERIOD ENDED 31 AUGUST 2022

Notes
Income and endownments from
Donations and legacies
2
Charitable activities
3
Other income
Total
Expenditure on:
Charitable activities
4
Raising funds
5
Total
Net income
6
Transfers between funds
Net movement in funds
Total funds brought forward at 1 April
2021
Total funds carried forward at 31
August 2022		 Unrestricted
Funds
£
437,089
35,707
1,583
474,379
196,042
19,121
215,163
259,216
-
259,216
42,625
301,841
£		 Restricted
Funds
£
2,000
-
-
2,000
2,000
-
2,000
-
-
-
-
-
£		 Total
1 April 2021
to 31 August
2022
£
439,089
35,707
1,583
476,379
198,042
19,121
217,163
259,216
-
259,216
42,625
301,841
£		 Total
15 April 2020
to 31 March
2021
43,875
-
-
43,875
1,250
-
1,250
42,625
-
42,625
-
42,625
£

All amounts stated for the 2021 period relate to unrestricted funds.

The notes on pages 11 to 17 form part of these accounts.

9

RICHARD SHEPHARD MUSIC FOUNDATION

BALANCE SHEET AT 31 AUGUST 2022 Charity Number: 1189066

Notes
Fixed assets:
Tangible assets
8
Current assets:
Cash at bank and in hand
Debtors
9
Investments
10
Total current assets
Liabilities:
11
Net current assets
Total assets less current liabilities
The funds of the charity:
Unrestricted funds
12
Restricted funds
13
Total charity funds
Creditors: amounts falling due within one year		 Total
31 August
2022
£
1,265
287,010
15,198
2,350
304,558
3,982
300,576
301,841
£
301,841
-
301,841
£		 Total
31 March
2021
-
35,100
8,775
-
43,875
1,250
42,625
42,625
£
42,625
-
42,625
£

Approved by the Trustees on 8 February 2023 and signed on their behalf by:

Sir Ron Cooke Trustee

The notes on pages 11 to 17 form part of these accounts.

10

RICHARD SHEPHARD MUSIC FOUNDATION

NOTES TO THE ACCOUNTS

FOR THE PERIOD ENDED 31 AUGUST 2022

1. ACCOUNTING POLICIES

a) Basis of preparation

The Accounts 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 or Ireland (FRS 102) (effective 1 January 2019) - (Charites SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102).

Richard Shephard Music Foundation meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy note(s).

The principal address of the Charity is: 9 Minster Yard, YORK, YO1 7HH

The period of account is from 1 April 2021 to 31 August 2022. The year end was changed to 31 August to align with the school terms. The comparative amounts are for the short period from 15 April 2020 to 31 March 2021 and are, therefore, not entirely comparable.

b) Preparation of accounts on a going concern basis

The Trustees have a reasonable expectation that the Charity has sufficient resources to be able to continue in existence for the foreseeable future. They believe that the going concern basis is appropriate in the preparing the financial statements.

c) Funds structure

Unrestricted funds are funds which can be used in accordance with the charitable objects at the discretion of the Trustees. Restricted funds represent funds received for purposes restricted by the wishes of the donor.

d) Income

Income is recognised when the Charity has entitlement to the funds, any performance conditions attached to the item(s) of income have been met, it is probable that the income will be received and the amount can be reliably measured.

e) Expenditure

Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably. Expenditure is classified under the following activity headings:

Expenditure on charitable activities relates to activities undertaken to further the purposes of the charity and includes their associated support costs.

Support costs include central functions and governance costs, and have been allocated to activities on a basis consistent with the use of those resources, e.g. allocation of staff costs by time spent and other costs by their usage. Governance costs include those incurred in the governance of the charitable company and its assets and primarily associated with constitutional and statutory requirements.

Expenditure on raising funds relates to activities undertaken to raise funds for the charity.

f) Taxation

As a registered charity, the Charity is exempt from the payment of Corporation tax in respect of its charitable activities.

11

RICHARD SHEPHARD MUSIC FOUNDATION

NOTES TO THE ACCOUNTS - CONTINUED FOR THE PERIOD ENDED 31 AUGUST 2022

1. ACCOUNTING POLICIES (continued)

g) Debtors

Trade and other debtors are recognised at the settlement amount due after any trade discount offered.

h) Current asset investments

Amounts held in current asset investments relate to pictures held for resale. These are valued at their probate value.

i) Creditors and provisions

j) Cash at bank and in hand

k) Fixed assets

Tangible fixed assets are depreciated over their expected useful lives at the following annual rates: Computer equipment over 3 years

l) Pension scheme

The charity pays defined contributions into personal pension plans for its employees. Pension costs are charged to the Statement of Financial Activities (SOFA) and represent the contributions payable by the charity in the period.

2. DONATIONS AND LEGACIES

Donations and grants
Gift Aid
Legacies		 Unrestricted
Funds
£
332,678
21,912
82,499
437,089
£		 Restricted
Funds
£
2,000
-
-		 Total
1 April 2021
to 31 August
2022
£
334,678
21,912
82,499
439,089
£		 Total
15 April 2020
to 31 March
2021
£
43,875
-
-
2,000
£		 43,875
£

In 2021, no amounts related to restricted funds.

3. CHARITABLE ACTIVITIES

Total Total
1 April 2021 15 April 2020
Unrestricted Restricted to 31 August to 31 March
Funds Funds 2022 2021
School fees £ 35,707
 £ -
 £ 35,707
 £ -

In 2021, no amounts related to restricted funds.

12

RICHARD SHEPHARD MUSIC FOUNDATION

NOTES TO THE ACCOUNTS - CONTINUED FOR THE PERIOD ENDED 31 AUGUST 2022

4. ANALYSIS OF EXPENDITURE ON CHARITABLE ACTIVITIES

Costs directly allocated to activities:
Cost of events
Freelance costs
Subsidies to schools
Teaching fees
Wages and salaries
Support costs:
Wages and salaries
Payroll costs
Interest payable
Staff training
Statutory accounts and Independent
Examination fees
Sundry expenses
Telephone and internet
Travel and subsistence
Total expenditure on charitable activities
Miscellaneous equipment
Photography
Printing, postage and stationery
Recruitment
Rent and service charges
Subscriptions
Legal costs
Bank charges
Depreciation
Hospitality and entertainment
Insurance
IT software and consumables
Accountancy and payroll fees
Advertising, marketing and branding		 Unrestricted
Funds
£
3,468
203
11,723
89,983
32,415
4,152
8,455
8
633
279
1,783
2
2,590
3,140
384
1,860
683
1,357
600
11,310

212
358
2,600
110
409
1,415
15,910		 Restricted
Funds
£
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
2,000		 Total
1 April 2021
to 31 August
2022
£
3,468
203
11,723
89,983
32,415
4,152
8,455
8
633
279
1,783
2
2,590
3,140
384
1,860
683
1,357
600
11,310
212
358
2,600
110
409
1,415
17,910		 Total
15 April 2020
to 31 March
2021
£
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
1,250
-
-
-
-
196,042
£		 2,000
£		 198,042
£		 1,250
£

In 2021, no amounts related to restricted funds.

13

RICHARD SHEPHARD MUSIC FOUNDATION

NOTES TO THE ACCOUNTS - CONTINUED FOR THE PERIOD ENDED 31 AUGUST 2022

5. ANALYSIS OF EXPENDITURE ON RAISING FUNDS

Wages and salaries
Banking fees
Fundraising costs		 Unrestricted
Funds
£
17,909
167
1,045
19,121
£		 Restricted
Funds
£
-
-
-
-
£		 Total
1 April 2021
to 31 August
2022
£
17,909
167
1,045
19,121
£		 Total
15 April 2020
to 31 March
2021
£
-
-
-
-
£

In 2021, no amounts related to restricted funds.

6. NET INCOME/EXPENDITURE FOR THE YEAR The surplus for the year is stated after charging:

The surplus for the year is stated after charging:
Depreciation
Independent Examiner's remuneration
Other fees paid to Examiner
Gross salaries and wages
Employer's pension contributions
STAFF COSTS AND TRUSTEES' REMUNERATION		 Total
1 April 2021
to 31 August
2022
£
633
2,600
4,152
Total
1 April 2021
to 31 August
2022
£
64,033
2,201
66,234
£		 Total
15 April 2020
to 31 March
2021
£
-
1,250
-
Total
15 April 2020
to 31 March
2021
£
-
-
-
£

7. STAFF COSTS AND TRUSTEES' REMUNERATION

The average number of employees in the year was 2 (2021 - 0) . There were no employees with emoluments above £60,000 in the year (2021 - none).

No remuneration, benefits or expenses were received by any of the Trustees who held posts during the year in respect of their services to the Charity.

The key management personnel of the Charity comprise the Trustees and the General Manager. The total employee benefits of the key management personnel were £42,343 (2021 - £nil).

7. RELATED PARTY TRANSACTIONS

Donations received from related parties in the year totalled £32,025 (2021 - £35,100). Legacy income received from related parties in the year totalled £82,499 (2021 - £nil). There were no other related party transactions.

14

RICHARD SHEPHARD MUSIC FOUNDATION

NOTES TO THE ACCOUNTS - CONTINUED FOR THE PERIOD ENDED 31 AUGUST 2022

8. FIXED ASSETS

Cost:
At 1 April 2021
Additions
At 31 August 2022
Depreciation:
At 1 April 2021
Charge for the year
At 31 August 2022
Net book values
At 31 August 2022
31 March 2021
All fixed assets relate to unrestricted funds.		 Computer
equipment
£
-
1,898
1,898
-
633
633
1,265
£
-
£		 Total
£
-
1,898
1,898
-
633
633
1,265
£
-
£

9. DEBTORS

DEBTORS
Prepayments
Accrued income
VAT
Gift Aid recoverable		 Unrestricted
Funds
£
1,756
2,000
5,442
6,000
15,198
£		 Restricted
Funds
£
-
-
-
-
-
£		 Total
1 April 2021
to 31 August
2022
£
1,756
2,000
5,442
6,000
15,198
£		 Total
15 April 2020
to 31 March
2021
£
-
-
-
8,775
8,775
£

In 2021, no amounts related to restricted funds.

10. INVESTMENTS

INVESTMENTS
Total Total
1 April 2021 15 April 2020
Unrestricted Restricted to 31 August to 31 March
Funds Funds 2022 2021
Pictures held for resale £ 2,350
 £ -
 £ 2,350
 £ -

15

RICHARD SHEPHARD MUSIC FOUNDATION

NOTES TO THE ACCOUNTS - CONTINUED FOR THE PERIOD ENDED 31 AUGUST 2022

11. CREDITORS: amounts falling due within one year

Unrestricted
Funds
£
Accruals and deferred income
3,136
308
538
3,982
£
12. UNRESTRICTED FUNDS
Current period
Balance b/f
01/04/2021
General
42,625
£
Comparative period
General
13. RESTRICTED FUNDS
Current period
Balance b/f
01/04/2021
-
£
There were no restricted funds in 2021.
Lord Leverhulme Charitable Trust
Trade creditors
Other creditors
In 2021, no amounts related to restricted funds.		 Restricted
Funds
£
-
-
-
-
£
Incoming
Resources
474,379
£
Incoming
Resources
43,875
£
Incoming
Resources
2,000
£		 Total
1 April 2021
to 31 August
2022
£
3,136
308
538
3,982
£
Resources
Expended
(215,163)
£
Resources
Expended
(1,250)
£
Resources
Expended
(2,000)
£		 Total
15 April 2020
to 31 March
2021
£
1,250
-
-
1,250
£
Balance c/f
31/08/2022
301,841
£
Balance c/f
31/03/2021
42,625
£
Balance c/f
31/08/2022
-
£

12. UNRESTRICTED FUNDS Current period

Lord Leverhulme Charitable Trust - Funding towards making the Richard Shephard Music Foundation nationwide.

16

RICHARD SHEPHARD MUSIC FOUNDATION

NOTES TO THE ACCOUNTS - CONTINUED FOR THE PERIOD ENDED 31 AUGUST 2022

14. ANALYSIS OF NET ASSETS BETWEEN FUNDS

Current period
Unrestricted Funds
Restricted funds
Comparative period
Unrestricted Funds
Restricted funds		 Fixed
Assets
£
1,265
-
1,265
£
Fixed
Assets
£
-
-
-
£		 Current
assets
£
304,558
-
304,558
£
Current
assets
£
43,875
-
43,875
£		 Current
liabilities
£
(3,982)
-
(3,982)
£
Current
liabilities
£
(1,250)
-
(1,250)
£		 Total
£
301,841
-
301,841
£
Total
£
42,625
-
42,625
£

17