Docusign Envelope ID: 8F1B4499-9915-49D4-86FD-28212E9C58CE
CHARITY REGISTRATION NUMBER: 1203554
Thinking Music Unaudited Financial Statements 31 August 2024
Docusign Envelope ID: 8F1B4499-9915-49D4-86FD-28212E9C58CE
Thinking Music
Financial Statements
Period from 14 June 2023 to 31 August 2024
| Page | |
|---|---|
| Trustees' annual report | 1 |
| Independent examiner's report to the trustees | 3 |
| Statement of financial activities | 4 |
| Statement of financial position | 5 |
| Notes to the financial statements | 6 |
Docusign Envelope ID: 8F1B4499-9915-49D4-86FD-28212E9C58CE
Thinking Music
Trustees' Annual Report
Period from 14 June 2023 to 31 August 2024
The trustees present their report and the unaudited financial statements of the charity for the period ended 31 August 2024.
Reference and administrative details
Registered charity name Thinking Music Charity registration number 1203554 Principal office Woodborough Manor Woodborough Pewsey SN9 5PL United Kingdom
The trustees
Independent examiner
W J Ingram Hill (Appointed 14 June 2023) H Scott (Appointed 14 June 2023) The Ingram Hill Foundation (Appointed 14 June 2023) A Bailey (Appointed 14 June 2023) L Biglou OBE (Appointed 14 June 2023) Professor S Hibberd (Appointed 14 June 2023) N J Cadwallader FCCA
Structure, governance and management
The Charity is governed by a Constitution that was adopted on incorporation.
This states that there must be at least three trustees. The maximum number of trustees is six.
At the year end, there were six trustees in office. Five of these were appointed for a period of three years from incorporation. One (a charitable foundation) was appointed for a period of two years from incorporation.
The trustees have a range of relevant skills and experience. They include a professor of music, a lawyer and corporate finance specialist, a former director of the British Council for West Africa, a former senior industry executive and two prominent music educators.
The trustees meet quarterly, usually via video conference, to discuss, monitor and approve the affairs of the Charity.
The Charity has a Chair and a Vice-Chair who deal with day-to-day matters on behalf of the trustees as they arise. They work closely with the executive team, comprising the Charity's Director, Alice Poppleton, and its Producer, Frances Leith.
The Charity's Director and Producer ensure proper administration and record keeping for the Charity. They also oversee the day-to-day operations of the Charity, organising the hiring of venues and professionals and liaising with the schools and universities to implement the Charity's objectives.
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Docusign Envelope ID: 8F1B4499-9915-49D4-86FD-28212E9C58CE
Thinking Music
Trustees' Annual Report (continued)
Period from 14 June 2023 to 31 August 2024
Objectives and activities
The Charity exists to build sustainable music ecosystems to enrich the lives of children, particularly in rural areas where access to musical opportunities is often limited. It connects primary and higher education institutions to work together through music, linking these vibrant communities to form a longlasting relationship where the children, their teachers and the university student practitioners learn and grow together.
During the 2023-24 financial year, the Charity worked closely with student practitioners from Bristol University to deliver the project to three schools. The team worked directly with 67 students and six teachers. Through performance assemblies, it reached around 640 children in rural primary schools.
Achievements and performance
The success of the Charity was recognised at the Music and Drama Education Awards 2024, where the Charity was "Highly Commended" as "Excellent in Primary/Early Years". The judges stated that "this project was innovative in forging links between universities and schools - to their mutual benefit - and they were impressed with its unique approach, commitment and potential for growth".
The year culminated with the Charity's annual festival at the Victoria Rooms in the University of Bristol in which school children, students, teachers and professionals participated in a performance which show-cased their achievements and success throughout the academic year.
Financial review
The Charity was primarily funded through the financial year by The Ingram Hill Foundation. Bristol University supported with resources, including support with logistics and procuring DBS checks for student practitioners. A small amount of support was also provided by corporate and individual sponsors. Each year, schools are asked to make a modest, fixed, contribution to costs.
The Charity's funding was limited to a strict budget. A small contingency was included in that budget but it was not possible to build reserves in this financial year. Going forward, the Charity will be implementing a reserves policy which will come into effect in the 2024-25 financial year.
The trustees' annual report was approved on .............................. and signed on behalf of the board of 30/6/2025 trustees by:
W J Ingram Hill Trustee
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Docusign Envelope ID: 8F1B4499-9915-49D4-86FD-28212E9C58CE
Thinking Music
Independent Examiner's Report to the Trustees of Thinking Music
Period from 14 June 2023 to 31 August 2024
I report to the trustees on my examination of the financial statements of Thinking Music ('the charity') for the period ended 31 August 2024.
Responsibilities and basis of report
As the trustees of the charity you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 (‘the Act’).
I report in respect of my examination of the charity's financial statements 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
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:
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accounting records were not kept in respect of the charity as required by section 130 of the Act; or
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the financial statements do not accord with those records; or
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the financial statements 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.
N J Cadwallader FCCA Independent Examiner
David Cadwallader and Co Limited Chartered Certified Accountants Suite 3 Bignell Park Barns Chesterton Nr Bicester Oxon OX26 1TD
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Docusign Envelope ID: 8F1B4499-9915-49D4-86FD-28212E9C58CE
Thinking Music
Statement of Financial Activities
Period from 14 June 2023 to 31 August 2024
| Period from | 14 Jun 23 to | ||
|---|---|---|---|
| 31 Aug 24 | |||
| Unrestricted | |||
| funds | Total funds | ||
| Note | £ | £ | |
| Income and endowments | |||
| Donations and legacies | 4 | 42,589 | 42,589 |
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| Total income | 42,589 | 42,589 | |
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| Expenditure | |||
| Expenditure on charitable activities | 5,6 | 43,464 | 43,464 |
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| Total expenditure | 43,464 | 43,464 | |
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| Net expenditure and net movement in funds | (875) | (875) | |
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| Reconciliation of funds | |||
| Total funds brought forward | – | – | |
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| Total funds carried forward | (875) | (875) | |
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The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
The notes on pages 6 to 9 form part of these financial statements.
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Docusign Envelope ID: 8F1B4499-9915-49D4-86FD-28212E9C58CE
Thinking Music
Statement of Financial Position
31 August 2024
| 31 Aug 24 | ||
|---|---|---|
| Note | £ | |
| Creditors: amounts falling due within one year | 10 | 875 |
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| Net current liabilities | 875 | |
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| Total assets less current liabilities | (875) | |
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| Net liabilities | (875) | |
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| Funds of the charity | ||
| Unrestricted funds | (875) | |
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| Total charity funds | 11 | (875) |
These financial statements were approved by the board of trustees and authorised for issue on ........................, and are signed on behalf of the board by: 30/6/2025
W J Ingram Hill Trustee
The notes on pages 6 to 9 form part of these financial statements.
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Docusign Envelope ID: 8F1B4499-9915-49D4-86FD-28212E9C58CE
Thinking Music
Notes to the Financial Statements
Period from 14 June 2023 to 31 August 2024
1. General information
The charity is a public benefit entity and a registered charity in England and Wales and is unincorporated. The address of the principal office is Woodborough Manor, Woodborough, Pewsey, Wiltshire, SN9 5PL.
2. Statement of compliance
These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', the 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 (FRS 102) (Charities SORP (FRS 102)) and the Charities Act 2011.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through income or expenditure.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
There are no material uncertainties about the charity's ability to continue.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Fund accounting
Unrestricted funds are available for use at the discretion of the trustees to further any of the charity's purposes.
Designated funds are unrestricted funds earmarked by the trustees for particular future project or commitment.
Restricted funds are subjected to restrictions on their expenditure declared by the donor or through the terms of an appeal, and fall into one of two sub-classes: restricted income funds or endowment funds.
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Docusign Envelope ID: 8F1B4499-9915-49D4-86FD-28212E9C58CE
Thinking Music
Notes to the Financial Statements (continued)
Period from 14 June 2023 to 31 August 2024
3. Accounting policies (continued)
Incoming resources
All incoming resources are included in the statement of financial activities when entitlement has passed to the charity; it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income:
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income from donations or grants is recognised when there is evidence of entitlement to the gift, receipt is probable and its amount can be measured reliably.
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legacy income is recognised when receipt is probable and entitlement is established.
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income from donated goods is measured at the fair value of the goods unless this is impractical to measure reliably, in which case the value is derived from the cost to the donor or the estimated resale value. Donated facilities and services are recognised in the accounts when received if the value can be reliably measured. No amounts are included for the contribution of general volunteers.
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income from contracts for the supply of services is recognised with the delivery of the contracted service. This is classified as unrestricted funds unless there is a contractual requirement for it to be spent on a particular purpose and returned if unspent, in which case it may be regarded as restricted.
Resources expended
Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings of the statement of financial activities to which it relates:
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expenditure on raising funds includes the costs of all fundraising activities, events, noncharitable trading activities, and the sale of donated goods.
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expenditure on charitable activities includes all costs incurred by a charity in undertaking activities that further its charitable aims for the benefit of its beneficiaries, including those support costs and costs relating to the governance of the charity apportioned to charitable activities.
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other expenditure includes all expenditure that is neither related to raising funds for the charity nor part of its expenditure on charitable activities.
All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs are apportioned between the activities they contribute to on a reasonable, justifiable and consistent basis.
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Docusign Envelope ID: 8F1B4499-9915-49D4-86FD-28212E9C58CE
Thinking Music
Notes to the Financial Statements (continued)
Period from 14 June 2023 to 31 August 2024
4. Donations and legacies
| Unrestricted | Total Funds | |
|---|---|---|
| Funds | 2024 | |
| £ | £ | |
| Donations | ||
| Donations | 33,489 | 33,489 |
| Support in Kind | 9,100 | 9,100 |
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| 42,589 | 42,589 | |
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5. Expenditure on charitable activities by fund type
| Unrestricted | Total Funds | |
|---|---|---|
| Funds | 2024 | |
| £ | £ | |
| Education/training | 42,963 | 42,963 |
| Support costs | 501 | 501 |
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| 43,464 | 43,464 | |
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6. Expenditure on charitable activities by activity type
| Activities | |||
|---|---|---|---|
| undertaken | Total funds | ||
| directly Support costs | 2024 | ||
| £ | £ | £ | |
| Education/training | 42,963 | – | 42,963 |
| Governance costs | – | 501 | 501 |
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| 42,963 | 501 | 43,464 | |
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7. Independent examination fees
| Period from | |
|---|---|
| 14 Jun 23 to | |
| 31 Aug 24 | |
| £ | |
| Fees payable to the independent examiner for: | |
| Independent examination of the financial statements | 500 |
|
8. Staff costs
The average head count of employees during the period was Nil.
No employee received employee benefits of more than £60,000 during the year (2023: Nil).
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Docusign Envelope ID: 8F1B4499-9915-49D4-86FD-28212E9C58CE
Thinking Music
Notes to the Financial Statements (continued)
Period from 14 June 2023 to 31 August 2024
9. Trustee remuneration and expenses
The Ingram Hill Foundation paid for expenses worth £33,566 on behalf of Thinking Music during the period which will not be sought.
W J Ingram Hill paid for expenses worth £298 on behalf of Thinking Music during the period which will not be sought.
10. Creditors: amounts falling due within one year
| 31 Aug 24 | |
|---|---|
| £ | |
| Trade creditors | 375 |
| Accruals and deferred income | 500 |
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| 875 | |
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11. Analysis of charitable funds
Unrestricted funds
| Unrestricted funds | |||||
|---|---|---|---|---|---|
| At | |||||
| At | 31 August 20 | ||||
| 14 June 2023 | Income | Expenditure | 24 | ||
| £ | £ | £ | £ | ||
| General funds | – | 42,589 | (43,464) | (875) | |
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| 12. | Analysis of net assets between | funds | |||
| Unrestricted | Total Funds | ||||
| Funds | 2024 | ||||
| £ | £ | ||||
| Creditors less than 1 year | (875) | (875) | |||
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