CHANGING KEY DORSET TRUSTEES ANNUAL REPORT 1[st] January 2024 to 31[st] December 2024 Charity Registra�on Number 1197069 ## CHANGING KEY DORSET ANNUAL REPORT AND FINANCIAL STATEMENTS FOR 1[ST] JANUARY 2024 TO 31[ST] DECEMBER 2024 CHANGING KEY DORSET TRUSTEES ANNUAL REPORT 1[st] January 2024 to 31[st] December 2024 ## CHANGING KEY DORSET CONTENTS Reference and Administra�ve Details………………………………………………………………………………. 3 Trustees’ Annual Report……………………………………………………………………………………………………5 Statement of Financial Ac�vity…………………………………………………………………………………………8 Statement of Assets and Liabili�es……………………………………………………………………………………9 Notes to the Financial Statements……………………………………………………………………………………10 CHANGING KEY DORSET TRUSTEES ANNUAL REPORT 1[st] January 2024 to 31[st] December 2024 ## **REFERENCE AND ADMINISTRATIVE DETAILS** **----- Start of picture text -----**
Charity Name Changing Key Dorset. The charity is not known by any
other name.
Charity Registra�on Number 1197069
Period of Financial Year 1 [st] January 2024 to 31 [st] December 2024
Principal Address c/o Dorset Music Service
Unit 14, Uplands Industrial Park
Blandford Heights
Higher Sha�esbury Lane
Blandford Forum
Dorset
DT11 7UZ
Governing Document Cons�tu�on of Changing Key Dorset (22nd November
2021).
Objects of the Charity To advance educa�on par�cularly (but not exclusively) in
rela�on to music;
to advance the arts and culture, par�cularly (but not
exclusively), by promo�ng and facilita�ng access to
performances of music, par�cipa�on in musical
ac�vi�es and providing access to instruments, scores
and other means of performance and study for such
purposes;
and to provide for the recrea�on of children and young
people by providing equipment, facili�es and services to
them in the interests of social welfare in par�cular (but
not exclusively) through providing community music
programmes, with the object of improving their
condi�ons of life.
Bankers Lloyds Bank plc.
25 Gresham Street,
London EC2V 7HN
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CHANGING KEY DORSET TRUSTEES ANNUAL REPORT 1[st] January 2024 to 31[st] December 2024 ## **REFERENCE AND ADMINISTRATIVE DETAILS (cont’d)** **----- Start of picture text -----**
Solicitors to the Trust Bates Wells
10 Queen Street Place,
London, EC4R 1BE
Trustees
Peter Guntrip
Jay Buckle
Clair McColl (interim chair)
Sco� Welcomme
Nicky Footer
Sam Ryall
Susie Kibuga
(No exemp�ons from disclosure)
(No trustees are ac�ng as custodian trustees)
Other Trust Personnel Steve Spicer – Clerk
Independent Examiner n/a
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CHANGING KEY DORSET TRUSTEES ANNUAL REPORT 1[st] January 2024 to 31[st] December 2024 ## **Objec�ves and Ac�vi�es** ## **Changing Key Dorset Objects** - to advance educa�on par�cularly (but not exclusively) in rela�on to music; - to advance the arts and culture, par�cularly (but not exclusively), by promo�ng and facilita�ng access to performances of music, par�cipa�on in musical ac�vi�es and providing access to instruments, scores and other means of performance and study for such purposes; and - to provide for the recrea�on of children and young people by providing equipment, facili�es and services to them in the interests of social welfare in par�cular (but not exclusively) through providing community music programmes, with the object of improving their condi�ons of life. ## **Ac�vi�es** During the period of this report, the sole ac�vity of Changing Key Dorset (CKD) was grant-giving through the Richard Ely Bursary. ## **Structure, Governance and Management** Structure: Patrons (None currently) Chair of Trustees At least 3 in total Board of Trustees Administra�ve Support (Currently provided free of charge by Dorset Music Service) ## Governance and Management: as stated in the _Cons�tu�on of Changing Key Dorset_ (22[nd] November 2021). Any decision of the Trustees may be taken by means of a resolu�on passed by a 75% majority of those Members vo�ng at a general mee�ng. Trustees may make decisions by resolu�on in wri�ng agreed to by all of the Members of the CIO. All decisions are taken by the charity’s trustees. a Trustee by a decision of the Trustees. The Trustees will make available to each new Trustee, on or before his or her first appointment, a copy of the Cons�tu�on and any amendments made to it, and a copy of the CIO's latest trustees' annual report and statement of accounts. Dorset Music Service (DMS), currently provides administra�ve support in kind under the terms of the Memo of Understanding (MOU). A secretary may be appointed by the Trustees for such term, at such remunera�on and upon such condi�ons as they may think fit and may be removed by them. An MOU exists between DMS and CKD which formalises the rela�onship between the two organisa�ons. The purposes of the partnership between CKD and DMS are: - A collabora�on between CKD and DMS supports CKD to achieve its goals and op�mise the impact of the CIO’s work through ‘in-kind’ administra�on and communica�on support, and by connec�ng CKD with the key cultural, educa�on and community partners that will ensure the CIO’s funds can be targeted at the children and young people who need it most. ## CHANGING KEY DORSET TRUSTEES ANNUAL REPORT 1[st] January 2024 to 31[st] December 2024 - The Na�onal Plan for Music Educa�on (which guides the work of DMS) works to address inequity of access to a high-quality music educa�on offer for young people who face obstacles – this aligns with CKD priori�es. The principle aims of the partnership outlined in the MOU are: - To support CKD to achieve its organisa�onal goals by reaching young people and families most in need of support and to connect with key cultural, educa�on and community groups and enable young people to access addi�onal financial support. - To create collabora�ve sustainable working arrangements between the Partners to ensure the smooth opera�on of the Richard Ely Bursary (RE Bursary) grants and development of fundraising to support music and crea�ve projects that support the objec�ves of the Na�onal Plan for Music Educa�on for the dura�on of the Project. - The partnership with DMS provides CKD with: - Strong communica�on links with all Dorset schools and other music educa�on organisa�ons – including freelance music tutors, independent schools and SEND - se�ngs through both DMS locality networks and Dorset Council Children’s Services teams enabling connec�on with families and young people who face the biggest barriers to music-making. - Opportuni�es to work in partnership with the local music educa�on community (through DMS) on fundraising events and concerts to support the celebra�on of young people’s music-making and promote CKD/RE Bursary as the local charity to support to boost access to music-making opportuni�es. - Strong working rela�onships with educa�on professionals across Dorset Council to support best prac�ce in terms of inclusion, co-produc�on and community partnerships. - A strong partnership and communica�on links with BCP music hub SoundStorm and music educa�on ini�a�ves across the BCP area of Dorset - fundraising opportuni�es and connect with regional and na�onal networks of music educa�on partners to learn from best prac�ce and access a wider range of funding opportuni�es. As stated in the MOU, Trustees delegate the day-to-day administra�on of the charity to DMS. This ‘in-kind’ provision comprises: - Rou�ne admin support through the DMS Admin Co-ordinator (0.5-1 day per week) to: - Process grant applica�ons - - Prepare papers and manage the Trustee and Grant Commi�ee mee�ngs - Communicate with applicants and related third par�es - Co-ordinate CKD communica�ons - Addi�onal tasks as directed and budgeted for by the Trustees/Chair of the CKD Board such as: - Co-ordina�on of fundraising events, concerts or ac�vi�es when working in partnership with Dorset Music Service The CKD-DMS MOU is reviewed on an annual basis. ## CHANGING KEY DORSET TRUSTEES ANNUAL REPORT 1[st] January 2024 to 31[st] December 2024 ## **Grant-making Policy** Funding awards are nominally granted from _The Richard Ely Bursary_ of this report, all funds held by the charity were used to support the _Richard Ely Bursary_ so this dis�nc�on is in name only. In alloca�ng grants, the Trustees will not discriminate for or against any par�cular kind of music. Grants are considered on a quarterly cycle based around academic terms; the applica�ons received in each applica�on window are considered by the Trustees at their next ordinary mee�ng and determined in accordance with the Objects of the Charity and the resources available. It is the policy of the Trustees not to commit to any individual grant for a period of more than twelve months. Funding award beneficiaries may however apply for a renewal of support on the expiry of a current grant; any such applica�on will be considered on its own merits alongside other applica�ons, but the Trustees may take into account the fact that the applicant has previously received support. All applica�ons, whether for new or renewed grants, must be supported by an endorsement from an independent referee who has knowledge of the applicant and how funding could benefit them; this referee should be someone who will not benefit financially from any grant funding awarded. ## **Investments Selec�on Policy** The Trustees consider that currently there are inadequate funds for any type of long-term investment. Accordingly, all balances are invested in cash with Lloyds Bank Plc which gives instant access to funds when required via online banking. ## to have due regard to the public benefit guidance published by the Charity Commission for England and Wales. ## **Achievements and Performance** Bursary. 67 applica�ons were received for grants commencing in 2024 with 47 of these approved. Richard Ely Bursary applica�ons approved and declined: **----- Start of picture text -----**
Applica�on Window Applica�ons Received Applica�ons Approved Applica�ons Declined
Spring Term 2024 19 14 5
Summer Term 2024 16 9 7
Autumn Term 2024 – Round 1 (July) 17 12 5
Autumn Term 2024 – Round 2 (Sept) 15 10 5
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Applica�ons were also received from a spread of loca�ons across the Dorset and Bournemouth, Christchurch and Poole areas covered by CKD. There was a high concentra�on from the Dorchester area: **----- Start of picture text -----**
Area Applica�ons Received Applica�ons Approved Applica�ons Declined
Dorchester 24 18 6
BCP (Bournemouth, Christchurch and Poole) 13 6 7
North Dorset 10 7 3
East Dorset 6 6 0
Purbeck 6 4 2
Weymouth 5 3 2
West Dorset 3 1 2
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## CHANGING KEY DORSET TRUSTEES ANNUAL REPORT 1[st] January 2024 to 31[st] December 2024 There was considerable diversity in the age and ability of bursary applicants. The highest number of applica�ons were received for students in the 11-15 years bracket; the ‘Beginner’ ability had the highest number of applica�ons closely followed by those working around Grade 1 to 3: **----- Start of picture text -----**
Age of applicants (in years) Applica�ons Received Applica�ons Approved Applica�ons Declined
0-5 0 0 0
6-10 16 13 3
11-15 28 17 11
16-21 19 14 5
22+ 1 0 1
Unknown 3 1 2
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Ability (actual and/or approximate) Applica�ons Received Applica�ons Approved Applica�ons Declined
Beginner 28 18 10
Grade 1 to 3 23 15 8
Grade 4 to 6 10 7 3
Grade 7 to 8 5 4 1
Above Grade 8 1 1 0
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There was also a range of challenges faced which were proving to be a barrier to accessing instrumental music provision for applicants, with ‘Financial’ being by far the most commonly iden�fied barrier: **----- Start of picture text -----**
Types of challenge iden�fied* Occurrence in applica�ons
Financial 58
Special Educa�onal Needs 10
Young Carer 6
Rural isola�on 4
Physical disability/disabili�es 1
Other health condi�on(s) - physical or mental 11
Other barrier(s) to accessing music 4
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*Applicants could iden�fy mul�ple barriers ‘Financial’ plus one other: **----- Start of picture text -----**
Number of challenges iden�fied per Occurrence in applica�ons
applica�on
1 challenge 43
2 challenges 21
3 challenges 3
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Changing Key Dorset keeps administra�ve expenditure to a minimum, with help-in-kind provided by Dorset Music Service (DMS). Therefore, the charity directs as much as possible into its core charitable purpose of suppor�ng young musicians. During 2024, two trustees who had been with CKD and its predecessor ( _The Richard Ely Trust for Young Musicians_ ) stepped down (Peter Guntrip and Jay Buckle), and three new trustees were appointed (Sco� Welcomme, Nicky Footer and Sam Ryall). Throughout this period Clair McColl held the role of Interim Chair of Trustees. While fundraising events will be an important component of income genera�on going forwards, there were not any CKD fundraising events in this period. ## CHANGING KEY DORSET TRUSTEES ANNUAL REPORT 1[st] January 2024 to 31[st] December 2024 ## **Plans for future periods** The future plan for CKD during the period of this report was for the charity to con�nue the grant-giving func�on inherited from the RETYM and also expand beyond this to secure funding for other specific music-making projects. ## **FINANCIAL REVIEW** From 01/01/2024 to 31/12/2024 total Income amounted to £5,504.83. This included £1,203.97 in dona�ons, £4,277.76 in Gi� Aid repayments from HMRC (for the period 2019/20 - 2022/23 inclusive) and a correc�on from Lloyds Bank for £23.10. Bank interest during the period amounted to £0.00. Total Expenditure amounted to £11,872.80. which included £11,504.19 in grant award payments, plus a payment of £368.61 for insurance. Funds carried forward into January 2025 amounted to £81,185.59. ## **Reserves Policy** this figure might be amended at any �me by specific resolu�on. ## **Structure, Governance and Management** The governing document of the charity is the Cons�tu�on of Changing Key Dorset, dated 22[nd] November 2021. One Trustee is ex officio, and new trustees are appointed by reason of residence, occupa�on, employment or special knowledge at the AGM or other Trustee mee�ng. ## **Review of Major Risks** During the period of this report, short-term and long-term risks were considered low. In addi�on, the Trust holds a Public Liability Policy, with cover of up to £2m for up to 15 events a year, as well as Employers, Professional and Management liability insurance. No claim has yet been made against this policy. ## **Statement of Trustees' Responsibili�es** United Kingdom Accoun�ng Standards (United Kingdom Generally Accepted Accoun�ng Prac�ce) and applicable law and regula�ons. give a true and fair view of the state of affairs of the Trust and of the incoming resources and applica�on of resources of the Trust for that period. In preparing the financial statements, Trustees are required to: - select suitable accoun�ng policies and then apply them consistently; - observe the methods and principles in the Chari�es SORP 2015 (FRS 102) - make judgments and es�mates that are reasonable and prudent; - state whether applicable accoun�ng standards and statements of recommended prac�ce have been followed, subject to any departure disclosed and explained in the financial statements; and - will con�nue in opera�on. The Trustees are responsible for keeping proper accoun�ng records that disclose with reasonable accuracy at any �me the financial posi�on of the charity and enable them to ensure that the financial statements comply with the Chari�es Act 2011, the applicable Chari�es (Accounts and Reports) Regula�ons, and the provisions of the trust deed. The Trustees are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the preven�on and detec�on of fraud and other irregulari�es. Approved informally by the Trustees October 2025, formally on 4[th] April 2026 and signed on their behalf by: _lair McColl_ ……………. Ac�ng Treasurer ## CHANGING KEY DORSET ## TRUSTEES ANNUAL REPORT 1[st] January 2024 to 31[st] December 2024 ## **STATEMENT OF FINANCIAL ACTIVITY** **----- Start of picture text -----**
Unrestricted Designated Total Funds
Funds Funds 2024
Note £ £ £
Income and endowments
Dona�ons and Legacies (incl. 2 £5,481.73 £0.00 £5,481.73
Gi� Aid repayments from
HMRC)
Charitable Ac�vi�es 3 £0.00 £0.00 £0.00
Bank Correc�on 2 £23.10 £0.00 £23.10
Investments 4 £0.00 £0.00 £0.00
Total Income and £5,504.83 £0.00 £5,504.83
endowments
Expenditure
Insurance fees 13 £368.61 £0.00 £368.61
Raising Funds 7 £0.00 £0.00 £0.00
Charitable Ac�vi�es (incl. 8 £11,504.19 £0.00 £11,504.19
Grants)
Total Expenditure £11,872.80 £0.00 £11,872.80
Net Income / (Expenditure) -£6,367.97 £0.00 -£6,367.97
before transfers
Gains/Losses on Revalua�on 1 £0.00 £0.00 £0.00
of Fixed Assets
Net Movement of Funds -£6,367.97 £0.00 -£6,367.97
Reconcilia�on of Funds
Total Funds brought forward £87,553.56 £0.00 £87,553.56
Total Funds carried forward £81,185.59 £0.00 £81,185.59
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All income and expenditure derive from con�nuing ac�vi�es. The charity has no recognised gains or losses for the year other than the results shown above. There are no endowment funds. CHANGING KEY DORSET TRUSTEES ANNUAL REPORT 1[st] January 2024 to 31[st] December 2024 ## **BALANCE SHEET AS AT 31[ST ] DECEMBER 2024** **----- Start of picture text -----**
2024 2023
Note £ £ £ £
Tangible Fixed Assets
None 1 £0.00 £0.00
Current Assets
Debtors 9 £84.15 £147.50
Cash at Bank 10 £81,185.59 £87,553.56
£81,269.74 £87,701.06
Current Liabili�es
Creditors 11 £10,995.08 £7,625.54
Net current assets £70,274.66 £80,075.52
Net assets £70,274.66 £80,075.52
Funds of the Charity
(adjusted for debtors and
creditors)
Restricted Funds £0.00 £0.00
Unrestricted Funds £70,274.66 £80,075.52
Total Charity Funds £70,274.66 £80,075.52
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Approved by the Trustees at the Trustees Mee�ng on 01/04/2025 and signed on behalf of the Charity by: ## Clair McColl Chair of Trustees CHANGING KEY DORSET ## **NOTES TO THE FINANCIAL STATEMENTS FOR 1[ST] JANUARY 2024 TO 31[ST] DECEMBER 2024** ## **1. Accoun�ng policies** ## **Basis of Prepara�on** Statement of Recommended Prac�ce applicable to chari�es preparing their accounts in accordance with the Financial Repor�ng Standard applicable in the UK and Republic of Ireland (FRS 102) (effec�ve 1 January 2019) - (Chari�es SORP (FRS102) (second edi�on – October 2019), the Financial Repor�ng Standard applicable in the UK and Republic of Ireland (FRS 102) and the Chari�es Act 2011 and 2022. CKD is a Charitable Incorporated Organisa�on established under Cons�tu�on in 2022 and is registered as a charity in England and Wales. at historical cost or transac�on value unless otherwise stated in the relevant accoun�ng policy note. The accounts are presented in £ sterling. CHANGING KEY DORSET TRUSTEES ANNUAL REPORT 1[st] January 2024 to 31[st] December 2024 ## **Going Concern** The Trustees consider that there are no material uncertain�es about the charity's ability to con�nue as a going concern. ## **Exemp�on from Preparing a Cash Flow Statement** ## **Fund Accoun�ng Policy** Unrestricted income funds are general funds that are available for use at the Trustees' discre�on in furtherance of the objec�ves of the charity. to that area or purpose. There are currently no restricted funds. ## **Income and Endowments** Income is recognised where there is en�tlement, certainty of receipt and the amount can be measured with sufficient reliability. ## **Expenditure** Liabili�es are recognised as soon as there is a legal or construc�ve obliga�on commi�ng the charity to the expenditure. All expenditure is accounted for on a payments basis and has been classified under headings that aggregate all costs related to this category. Expenditure on Raising Funds includes all costs associated with fund raising. Expenditure on Charitable Ac�vi�es comprises those costs incurred by the charity in the delivery of its ac�vi�es and services for its beneficiaries. It includes both costs that can be allocated directly to such ac�vi�es and those costs of an indirect nature necessary to support them e.g. insurance. In accordance with FRS102 (October 2019), this heading also includes Governance Costs, including the costs of insurance, bank charges and legal advice to Trustees on governance or cons�tu�onal ma�ers. ## **Taxa�on** As a registered charity, the Trust is generally exempt from income tax and capital gains tax, but not from value added tax (VAT). Irrecoverable VAT is included in the cost of the item to which it relates. ## **1. Tangible Fixed Assets** ## **2. Dona�ons, Legacies and Bank Transfers** Total dona�ons (including HMRC Gi� Aid repayments) received between 01/01/2024 and 31/12/2024 amounted to £5,481.73. A correc�on from Lloyds Bank for £23.10 was received for bank charges which were incorrectly taken in 2022 and 2023. ## **3. Income from Charitable Ac�vi�es** There was no income from Charitable Ac�vi�es between 01/01/2024 and 31/12/2024. ## **4. Investment Income** No investment income was received in between 01/01/2024 and 31/12/2024. ## **5. Donated Goods, Facili�es or Services** CKD received administra�ve support ‘in-kind’ from DMS throughout the period of this report as per the partnership formalised through the CKD-DMS MOU. ## **6. Trustees' Remunera�on and Expenses** ## CHANGING KEY DORSET TRUSTEES ANNUAL REPORT 1[st] January 2024 to 31[st] December 2024 No trustees received any remunera�on or were reimbursed any expenses between 01/01/2024 and 31/12/2024. ## **7. Expenditure on Raising Funds** There was no expenditure on raising funds between 01/01/2024 and 31/12/2024. ## **8. Expenditure on Charitable Ac�vi�es** Total expenditure on charitable ac�vi�es amounted to £11,504.19 between 01/01/2024 and 31/12/2024. ## **9. Debtors** HMRC: Unclaimed Gi� Aid on dona�ons. Dona�ons where Gi� Aid could be applied totalled £336.61 so CKD is en�tled to claim £84.15 in Gi� Aid from HMRC. ## **10. Cash at Bank** |**10. Cash at Bank**|| |---|---| |Lloyds Bank Current Account|£81,185.59| |**Total Cash at Bank at 31st December 2024**|**£81,185.59**| |Total Cash at Bank at 31stDecember 2023|£87,553.56| ## **11. Creditors** Liabili�es at 31/12/2024 amounted to £10,995.08 which was the amount of funds allocated for grants awarded but s�ll to be paid. A full list of grants awarded and payments made is held by the Trustees. ## **12. Related Par�es** ## **Controlling En�ty** The charity is controlled by the Trustees. There were no related party transac�ons between 01/01/2024 and 31/12/2024. ## **13. Insurance fees** £368.61 was paid to P J Aiken Insurance Services (A-One Insurance Group) on 14/02/2024 for Commercial Liability Insurance.