Metronome Steel Orchestra charlty Number 12092 Annual Report #nd A[￿unts l Aprtl 2024 to 31 Marth 2￿25 MEANWHILE GARDENS 156-158 KENSALROAD LONDON WIO 58N Phone: 0203 478846g Emill: Info metrorfomel.o Webslte: htt S.. metronomes.o Trustees: Eversley Mills In8rfd Greenldge Heather Joseph oblert1￿5 The objectives of the charity are to advance educatfon of the publK In the appreclatfon of Steei Pan Ofthe5tral Musk and Steel Pan Coml)o Mus& In particular but not exduswely by: l. Providln8 teachlngworkshops, demonstratfons and presentatSons of pubNc performances bysteel Pan Orchestfas and Steel Combos: 2. Commlssioning new Steel Pan Instruments and Musical Work5 Indudln8 Steel Pans: 3. Creatlng a Steel Pan Arthfve and other re50urce5 relatlng to the hlstory of Steel Pdn Muslc. Actlvltles and Athlevements Durln8 theyear we ran 41 workshops and rehearsals for young people teachln8 them how to perform as Steel Pan Musidans. These workshops were led by trustee5. We held ten performances induding for a variety of organ￿ationS indudlng a Moroccan charlty. Women's charity. the Eastbourne CarnNal and Marylebone Community show. We also had a large float atthe Notttng Hill Camlval on both days. There were 24 musicians on the float and volunteers helped wrth the 53fety around the float. Soca music was perfornied. In May, June and Juty we held barbeques forvolunteers and musklans. The charfty en8ble5 young people to galn Confiden￿ and self-esteem though performing in publlc. Thls Includes the performan￿ at Nottlng Hill CamNal whlch ts attended by over I mlllion peopleovertwo days Indudlng the August bank holiday. Pagelof9 Out work show cases aspects of Caribbean ojlture. It helps to Increasethe status of the Caribbean Communltles In London. It also helps young people to galn dlsclpllne In thelr INes, and conftdence. and self-esteem. Th15 contrfbute5 to thelr bdng more employable, and a5pirlng In terms of 8alnlng professlonal and trade quallflcatSons. It helps them to lead happier constructive Ilves, become ro%ponslble adults and good parents. We are plannln8 to create an Arthfve of Steel Pan Muslc and tradltlons. Thls will Include a study centre whlch Is 8olng to Involve the renOVa￿on of our current bulldlng whl¢h is leased from RBKC. the local authorlty. Flnanclal Revlew: ThI515 thefirst finandal yearfor the Charlty. We had an Income of £60,222 and wienditure of £12,431 resultln8 In a surplus £47,791. Due to the small sSLe of the tharlty and Its rellano on volunteers for management of the charty, we alm to keep one year'5 revenue cost a5 a reserve. For the year 24-25 thls wès 12,431. We have allocated £12,431 for in the accounts toward5 estab[￿hlng thls reserve. This level of reserves reduces the risk of: some fundingapplications not being Successful. the possibllity some bids ml8ht not be completed Sn any year. and the Importance of provldlng a conslstent servlce for the young people who useour service and ream to be musicais and perform in publiL The Trustees have place £16,291 into a designated unre5trirted fund for the purchase of musical Instnjments and Improvements to the buildingwhlth they kase for the focal authorty R8K Investment of funds. We are rnaklng arrangements for èn interest-bearing account forfunds that are not 8olng to be spent In the next two quarters. Strurture, Govemance, and MaDa8ement The charRy Ss a Charr(able IncorporatedOr8anlsatlon uslng Charlty Commisslon model rules. It Ss run by a volunteer board of Trustees who oversee the work of volunteers who provlde the service. The board atso manages persons who are hired fortheir professional expertise Indudin8 the Independent Examiner of the Accounts. and the Steel Pan Tuner. The latter ts a parkncular skill involvirt8 tuning instruments which have been formed out of steel oil drums into Instruments that are fulfy tuned for a public contert. Publ1¢ Benefft: TheTrustees have read and dtscussed thecharlty Commtsslon's gUIdan￿ on publk benefit. The act5vities and eypenditure of the charlty have been exclusively forthe benefit of the public and have stayed within the objectives of the tharity. Slgned on behalf of the Trustee5 9-8-26 Print Name [IrgllSLCY I LLS Page2of9 Independent Examlners Report Ironume Steel Orthestra For the y¢¥ ended 31th March 2025 I rtport on the aC£OUk)ts ot the tharlty. ¥41hhth are Set out on page5 4- 9. Respedlve responslbllh*eF oAtrusttts t7ndexumlner Tho Irustees ore responslble fort￿ prgparallon of the accounts. The In￿1888 consld8r that an audit is not required for thi8 year under sècllon 4312) of tho Charillgs Act 1993 {th8 1993 Act) and that an Independent examlnallon Is needed. ￿ charity's gross irthm8 Is less thgn £250,000. 1am allowed under Ch8rflles Act regulat10r￿ lo tsnd8rtske th18 8xamlnal¢on. Havlng satIsfI￿ my8eti that the charfly Is dlglbl8 for IndeporKl8nl examlnatlon, 51 Is my Tesponsibility to.. examlM the accounls und8r sectlon 43 of the 1993 Act., follow the procedures iald do￿ In the ge￿ra1 ¢Jlrection5 glven by th8 (￿Ortty Commissloners under section 43(7Xbl of 11)e 1993 Act.. . stste vh*ther pertIcu￿r mattws have com8 lo my attentlon. B#$l$ ol Ind•p•nd•nt •xamlnoe$ rgport My examlnallon was ¢aThied oui In accC￿anCe ￿th the 98naral d1rectl￿8 glven by the Charity Commisslon. An examinaticffl I￿l￿deS 8 r8view of the accouniing records kept by tho charity and a Comparis￿ of the OC¢OLsnts yesenled vAth thosg recortls. It also I￿1[￿jas ¢on$ldef81ion of any unusual Items ty thsclc6ures In the ¥¢¢ounts, and seeking explanations from yw as tn￿leeS conceming any such maller5. The F¥ocedures undgrtaken do rKst F￿vId0 all the evidencè thal %br4Jld be required in an audit and Consequently no opinion 18 ￿Ven as lo vthelher th8 acC￿nIS prgsent O'ln￿ and falr vlth or¥J Ihg report Is limlled to rnatle￿ sot In statement bel(yN. Trustses Report The Inlom181k•) In the Trusteos ieFA)t18 conslslent ￿th thè ￿AMt3 on pag88 4 to Independenl examlnerfs statsment. In connectSon Nmth my oxamlnation. no matter hos come to my 8ttentlon: 1. vhch gives me reasonat4e cwsg lo tdieve that In any matertal resFeCt the requ1￿mentS.. lo k¢ep woper ac¢wnling wcrfds. and lo p￿pare acC￿ntS ￿tch accord V￿th the accryJntlrMJ rwds and ¢￿[ty with the 8ccwnllivJ r8quirwiients, metlKxJs and prinC1F￿9$ of the Slalement of Recommended Prdctice: AcccMJnling and Rewting by Charflies havg nol 2. to vknSch, In my oplnlon. 8ltgntlon sI￿uld be dra￿ In order to enable a proper uTraerstsndlng of tho 8c¢ounts lo be ￿hed. Tom Frtth BSC 6 o￿l￿8t9n fi0￿. London WIO 5TN Pa8e3of9 MetroniKne Steel OTthestra statement of Financlal Artlvitles Forthe year ended 3tst March 2025 Incomlng resources Grant5 tlonatlons Performances Totsl Incomlng Resources 44,738 1,496 1.496 ,484 44738 60,222 Resources Expended General runnlng costs Camival Independent Examinatlon Depreclatlon Totsl Resources Expended 550 I,c81 431 icoi Net Inconie and expendlture 4053 44738 47,791 Fund brought forward Transfers between funds Funds carrled forward .44.738 47.791 47,791 Pa8e4of9 metrOr￿me5 Steel Orthestra Charfty Number 1209X Balance Sheet At31->25 Ntites Nxed A55et Current Assets Bank 417C CuThent Uabllltles {￿￿)1 Net CurrentAssets 41.153 Net Assets 47,791 Funds ofthe tharlty Unrestrlcted 12,431 Oesl8nated 35,360 Restrlrted Totsl Funds 47,791 Thls Is the ftr51 fln4n¢lal year of the charlty $0 there ts no prlor year. rrusteerf responslbllltles., The Tws¢ees acknowledge thdr rewn51bAllrfesfvrLwWnq thereqvtremEnts of theAct wlth fe5pert to ottounthg rK•rds ond thepwgmdon oJoccount& Approved by theTrustees Signed on behaw of theTrustees: Sl8ned Dated 918ft6 Prlnt Name L yazgLCf MILL? Page5of9 Metmorne Steel Or£hestra Notes ts> the For the Year Ended 31# M•th 2025 l. A((ountlng polldes The flnandal statements have been preparEd vnder the hlstorlral cost conventlon and In accordaft￿ vhth the Statement ol Recommwded Pra(tke, Accountlng and Repordn8 by Charlde5 ISORP Z0051 ISSU￿ In Marth 2005. SORP120051 provlde5 a number ol concv4lon5 for smaller tharltles that are notsuble£t to a ststutory audlL Mthnome Sted Orthestra falls ￿thIn thls t>te80ry and ha5 ta>Én ad¥ants8t ol these conttsslons. Thé prlnclpal accOun￿n8 polltles adopthd In the prèparauon of the flnantlal ststements are as follo￿. lal DepY¢datSon of IIMd assets Depredatlon Is provlded at the follovlng annual Trts5 In to ￿11* off eJth asset over vseFul ILIe. Muslcal Instnjemwts: 14.25% of orlglnal c05t vthlch b 7 years, stralaht Ilne. Computer5 and elettronic equlpment 2596 of orI￿nal C￿ 5tralght Ilnw, all other flthre5 and fittln85: 20% of oilglnal cos( p* annu 5tr*8ht Ilne. Ibl Capltsl.Arnnts CaPIt￿ 8nnts In respea ofcaplt* ¢¥pwdlture •re L7•Jlwt ￿ tht ststement ol Flnandal Admdes ISOFAI vthen they art retelved. Lknspent nx)ney Is placed In a reserve. Ic) knntlnuedl For the Ye¥ Ended 3111 March 2025 Page6of9 Igl Fund 3rroundn8 Funds held by the tharlty am elther: unrestrlrted 8enual funds.. these funds *lbkh can be used In accordan￿ vAth the tharltable oblett5 at the dlsuthn ofthe trUStee5: deslgnaied funds., these funds sel aslde by the trustee5 OU¢ of ￿n￿tr1ded genernl funds fly spe(¥llc fijture purp05e5 or pmled$5 restrlcted fund5: these are funds whlth only be used for paT￿lar restrktsd purposes ￿thIn the obled5 bf the tharlty,. restrlclloh5 Br15e %then 5pedAed by the Ilonor or when funds are ralsed lor pardcuhv re5tr1tted PUrp05ts. Further explanatlon ol the nattire and purpose of eath lund Is Induded In the notes to thè xtounts 2. Corporadon tsx The or8anlsatlon Is a rtylstffed tharlty and ts thwefort ￿ from tsx on 115 Intome and 8alns to the e%￿t that Income and/or 8alns are applitable and applled to tharitsble purposes only. 3. Paymentsts Trust••s No payments h*re made to any Trustees durlnithe yur. 4. &Jnts. Performanc￿ iontr4rts & donat5ons 2024-5 Ilnrestrkted Restrlcted Tot•1 Donadons IA96 1.496 Ptrformantes 13.988 13.98B Raclal lusllce Fund Grant 44,738 44,738 Totals ISA84 44,738 60.222 M*ronom• Steel OrtheslrJ Notss to the accounts (ton￿nUedj For the year endèd 3111 March 2025 5. Debtors Page7of9 2025 6. Cr•dltors 2015 Independent EY41￿natIOn 550 550 Staff wsi$ 4nd numbe There were no employees durln8the year. Axed asgets Net Bookvalue rot At dats olreglstratlon Addltions Idlsposalsl Depreclition Carrled fon¥ard 7,719 6*38 Anaysts of net'assets by fund * 31-3-25 Unrestrkled fvnds Déslgnated funds Re5trlcitd funds Flxed assets Current assets 6.638 28.722 12.981 .550 Net Assets 12A31 35360 Page8of9 MEIMome 5trel OrthE5ITr Notes to the ac(ounts Iwndnuedl For the ye•r ended 3111 Mar(h 1025 io. Movem¢nis In fund5 Openl I￿n(8 Resour¢e5 Expended In(omkn8 Transfers Closln8 Unrestrlrted Fund5 DonaYon5 & Gfants IA96 IA96 9378 9378 Prlmary Purpose Tradln8 13.988 10,935 3IIS3 Total Unreslrlrted 15A84 12A31 9￿12 12A31 Deslgnated Funds 35a60 35360 Restrlrted Funds Raclal Justsce Fund 44.738 44.738 Tot¥ Restrkted 44.738 44.738 TOTAL 60222 47.791 ii. Des18nated funds The deslBnated fundls made up of £6,638 of fi￿1 musk31 Instrun￿ts after deP￿la￿on. Trustees have also platod £28,678 of un￿tr￿ted fuftds Into an unr*lcted de51gnated fund for the purthase of InStrUm￿ts and Inyrovthxents to the pth 12. Paymentslo Trustee No payments wwe made io anytrusteos lor by to the tharlty during the year. No payments rnzde to ony trustees other than refunds for good and suvlces purtha5ed bythem on behalf of the tharlty tor the tharilles.e￿￿$fve us& 13. Relai¢d party transa¢*lons There are no Kdated party rTrn5acdons. 14. dependent examlnatton and accountsnty $•r¥I￿5 Durlng the pthod, the cost ofthè ennlnatlop Wds £550. Flrst Hnandal year Th15 Is the first flnandal yew SIn￿ ￿l$tra￿On for the tharlty w there ts no PTlor year. Page9of9