Registered number: 1673689 Charity number: 284555 THE BERKSHIRE YOUNG MUSICIANS TRUST (OPERATING AS BERKSHIRE MUSIC TRUST) (A company Ilmlted by guarantee) TRUSTEES. REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025
THE BERKSHIRE YOUNG MUSICIANS TRLKST (OPERATING AS BERKSHIRE MUSIC TRusn {A e(Mry)any limited by guwantee) C¢TENTs Reference and administrative details of the company. its Tfustees and advisers Trustees. report 2-12 Independent auditors. report on the finaneial sL*ements 13- 16 Statement of financial actNlties 17 Balance sheet 18- 19 Statement of cash flowg Notes to the financial statements 21-51
THE BERKSHIRE YOUNG MUSICIANS TRLKST (OPERATING AS BERKSHIRE MUSIC TRusn {A e(Mry)any limited by guwantee) REFERENCE AND ADMINISTRATIVE DEfAILS OF THE COMPANY, rrs TRUSTEES AND ADVISERS FOR THE YEAR DED 31 AUGUST 2025 Trnstees J Carroll, Chaimi R Belshw A Butler D Harris K Hatton Ires(qrd 31 October 20251 A Jackson R Millar S Williams IreswJned XJ Septemiw 2025) O Picken (appnted 18 March 20251 H Yjr¥j lappointed 1 JU 20251 Dr T Blanusa lapwnted 1 July 20251 K Austen lapwnled 1 Juty 20251 The trLLStees retiriry by rclatim wrtb'ry I115&e$ fc¥w for reelection are A Jackson, D Hris and A Butler. Company registered number 1673689 Charity registefed nwnber 284555 Registered office Stoneham C¢x¥t. I Cocw Hill, Rea(rvJ, 8erkshe. RG30 4EZ Chief executive offiter D Wren Independent auditors James Coyr KreS ALhJit, . Road. Readirvj. Berkshire. RG11AX Bankers Barday5 Bank Plc, Bus5 Centre. PO Box 6193. Baswe. Hampth"re. RG21 3RX Solicitors Fidd Ser Parkes Solrts. The Okl Corus CwL 1 Lth)n Streec PO Box 174, R1rJ, Be$hile, RG14QW
THE BERKSHIRE YOUNG MUSICIANS TRLKST (OPERATING AS BERKSHIRE MUSIC TRusn {A e(Mry)any limited by guwantee) TRUSTEES. REpoirr FOR THE YEAR DED 31 AUGUST 2025 The trustees. are all dKeetcs of the c(XnP¥by. wesent the reFQrt tC#Jether the audited financial statements for the year ended 31 ALWSI 2025. The Iruslees confimi that the accounts comply Mqlh the Ccfflpanies Act 20C6 and the charrb.es Ad 2022, have been prepared in accordance wth the revised Statement of RelMMended Practice 'AfX¢nting and Rep(Mting by Charibes, IFRS 10212019 and CoMY vth the jmpanls memearum AJ1ides of Associabcffi. is Ihe ccrfnps govemirJ thtument. The Berkshire Young elan$ Trust I'Berkshire Trt,) is a Registered Charitable C(4npany limited by guarantee aTrJ ir(waled as a crxnpany registered under the name the Befkshire yng MUslanS Trust. On 25 August 1982 the Tnjsl was establi%hed under a Memandum of AsKtiation thich established the objects and POVrfEfS of the charrlatAe oJnpany under ts AJbdes ofAssory"atKfft. Executive Summary Berkshire Music Tr1 has ¢tinld to delwer hyh qudty Music cPFthUneS for pecple in the 202 2025 academic year, none of w)uld have been rossit4e wih(yJt thè hard work and dedication of our staff - the teaching staff who ccnts"Thd to provide ensemtles aNJ s¢lKoI activths through a variety of fomiats as well as ts cperatW teams, hard to keep the service ruMirKJ in the backgrowrtl and support our customers and wpils. Berkshire Musie Trust is dedicated to transfcmir#j lives through the F¢)wer of MU¢. We provide higqUalIty, indUVe Mu¢ and pwtscipats OFpyttiTrtses to FeorAe of 1 w acoss Bershire. Our mission is to ensure that eVeryone-regard$ crf background. abilty, or eirtumstance-ean experients the joy, creatiwty, arKI lrfelong benefits of mu5iC-making. We work and a range of professicfflal and vduntary se¢lor partnerj to provide Inrtyative rarYJe ol ¢refve qpornmths for wr st)ents. Crb behaw of Ajts cne11 Eryland IACE). Bthshire Music Tntst le$ the Bthshire Ethjcalion Hub and is responsi1e the delivery ofthe Nati(1 Plan fcy Music Edwliw INPMEI across Berkshire. r objectives are ddwered Ihrwjh 1ndMdU arKI grP tuiticffi in w)e ar a variety of instruments in schts)Is arKI in five large music centres in Bracknell, Readir¥J, West Bthshire, Wc&ingham Windsor as well as one smaller satellrte centre in Caver$h. Turt is SUFplemenled by a wde rarge of ensembles and other eXtensiC actiwties at all thls. SeNces ae contrxled direclly to parents aTrJ carers of stLvJents and to schods.IDIEI.
THE BERKSHIRE YOUNG MUSICIANS TRLKST (OPERATING AS BERKSHIRE MUSIC TRusn {A e(Mry)any limited by guwantee) TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025 Public Belfft The trustees revw Berkshire MUS Trust's Putlr Benefit ccrfnmitments annually. The semces provided: music educab.on and prcffi0tic of the arts. are t)th defined wthin the Charths Act 2Crf)6 as charitable actiwtses. The Tfust has comprehensive lils¢Minaw Oicles that are regularfy reviewed to ensure complkqnce. These F(Aiues cover al discriminatic indvjing financhal hardship for several restricted funds hav• bèon crèatad to aswst sludonts from th backgrwrKk. Provisbon of financial assistan is not limrted to sdentS of families quafy for a5SiStance frcffl 'P"1 Premium.. The trustees reccgnise that sludents frryn families vthose income a lrtde )ve the levd to qualfy 'Pupil Premium, but contend wth the high &)st of livirKJ in Bthshire. may dso require suppNt and these apicationS are ked upon favourably. We operate a bLfWy fLXKI to assist kIr a1 Feople in this Catewy. Our Msion.. Our viSn is to enhance * enrich the lives crf d¥lthen. pecple adults through the unrivalled range of MuSal cpportunths we offer. MISSI Statement: We work cdlaboratively to nspire arJ develop musicians cugh ueab've, enjoyalle enriching learning experiences. We seek to emp)wer cw cc¥nmwty k) achieve its Fthntial. explt¥e their own creative pathways ard enjoy music in all its fomis. Ccye Values.. Inclusivity. tdve rnuS strd be accessble to al Respect. we respect others. wews and Iwd expwierKes Transparency- we are open h)nesl Innovation- we ContinU$1Y evc4ve adapt to dwoiTrJ needs Responsibility- we take re$$1b1lty our mBsvJn Partnership. we emtxace PartrshiP tral ic Pillars 202>20 EVERYBODY A MUSICIAN backgTowKI or c4rcumslance CONTINUOUS LEARNING_ to develop grtyv as a reflective le*nry ¢xganisation EMBRACING INNOVATION~to utilise lechr¥)kw to enhance Serns and dTversfy opportUnitS GROWTH & SUSTAINABILITY- to devdop Ihe organisatK)n's resilience and make it future woof Deliveri the Natal Aan Mu5 As ad organisatson for the Berkshire Music Ettiac Hth. we I))ntin to fully implement the NPME. In the quarterly feedback from Cour1 N%E retad a 'MIr risk. ra"r¥J regardir¥J our DfE fijnding applicab"on. Summa of 202425 Years r Earfy Years w¢ C?)ntin across the Courty with sesSim5 in Tllus centres. particulady remaining popular in Reajing. and providing an excelnI woJres0n into instrumental arKI vocal music makirrfJ for young people. The Berkshire Mle Trust W Years IBEYMNI has continued vthh a 5trcg meMr$hIp which IdeS triamual e-trAJllelins. access to the BEYMN Face ptye to share Kleas and resowces and regular CPD Sess5. First Access
THE BERKSHIRE YOUNG MUSICIANS TRLKST (OPERATING AS BERKSHIRE MUSIC TRusn {A e(Mry)any limited by guwantee) TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025 First ACC 1g)vemment f¥Jed vhKle dass instnrntal Fwrammel (tinl to be well recetved in schools. 125 schcols SHed w which was an increase CO from the previ5 year. We reached a total of 6330 students and had 17 sclvjols taking up the full three-year offer. We conb.nued ow large-group CcntinUatic session valh 95 St parti¢ipats'ng, iwease crf 58% from the prevN)us year. We ContinLd to prwde a rarvJe of to chikjren hvJrrfJ pecple indudiry instrumental and vocal lessons. Our stLKlent rMer$ reMaIr static this year desprte strategic c(PtunitieS student5 10 ty instrumerbts out. Wth no irreaSe in vitthdrawal data. rt is dear Ihat the wcwirg eccmmic Climate is clearfy impact¥ig families affdIng athiks for their thiben. The majlty of teadws observed as pa w Teathvvj & LeIry Pdicy. We supplemented our weekly FIOVISh a variety of hc4iday CQLrses as well as rnus thew less(y)s Grade 5 and Grades M. TeachirKJ staff were sent lo scthgs in wr annual 'Listen-up week,, visrfing 42 sdKols across the CJJnty to enable chikdren and yrj pecple lo exer1en live mug¢ as 11 as to F9te leamiThJ an instrument. Each event was fdlowEd by a hands ty-rt of instrumerrts ¥%e had over 4 stLthnts swTrup for a free lasler lesson as a resuh of this actiwty. We expanded ow adult Fyovision, starb"rvJ a new mixed ensefflb in Windsor that mirrors OLf existirKJ model for adults in Reading and West Berkshire. Ensembles & Events Ow fomied Clty Wind Oretra was laurthed li October haw temi resulti in a fantastic concert held Jointy wth Berkshire Youlh Symphryhy ¢>ctrEstra at Tr ¢>eal Hll in Readiry. Wth 100 students in BYSO and 40 in BYWO. Ihis was a he 5CesS. As part of our continued cclnmilmenl to prgJre5sw routes, sse intrtsjuced a County TrainiThJ Orchestra that wll feed into wr C(wnty Synthny Orthestra. This laChed well wth over 40 thilthen parbcipating in the launch We continue to prowde alonal OPFQrtunthes for cu ensemtle students S¢h cur Senior Reading Concert Bar gaining a Plalinum Wdrd at the Natic4MI CCcert Band Festival as wdl as 129 music centre sludents going lo Paris to take part in c(YrtS as wdl as xThe ghl-ng. In athditicfi. 48 students aged 7-11 went away on our annual residentsl kend. We held our annual comFetrthM, thi5 yourg FercussKn. guilar and brass to be named Berkshire Young Musician of the year, in partnership wth the w11St¥ Feslival. We held corrtS in wDrKlerful venues toth in Berkshire and ¢xtside d Berkshire. frcffl The Hexw to Dwai Abbey. We also worked wth yofessional artists suth as ts Royal PhilhamKsni¢ Orthestra. ere a number of our junior ReadirKJ instrumentalists got to FrfcYm os of the RPO'S N$Y Kids Concert al The Hexagon Theatre. Instrument Hire Scheme We continued to nm a $SsIu1 instrument hire thme hdpEd chiklren yrj people acces5 a range of instruments. We hired sJJt over lo nstwments across the year, wth a further 3288 teiry hired wt to schojs fcf our Whole Class Ensemble Tuiticm (W-) wcgamme. We offered conb.nued Prcrfessional Devekwent ICPD} for sclKx4s, having devek4)ed a new prcgramme of going into s¢S durirKJ their staff meetings so as lo ma(e it rnce fea5t•le for schcds to participate but aso to reach mcKe staff invofved in deliverirvJ music especialty at school. This programme has been realty effeth.ve wrth excdlent feedback from parbu"wts. ToF4cs covered induded.. GettiThJ started with Gara9eBa1, al's on ur instrument trdly. de-myst1'ng music rN)tstion, iyush up the Basics - develc4)irKJ key skills in
THE BERKSHIRE YOUNG MUSICIANS TRLKST (OPERATING AS BERKSHIRE MUSIC TRusn {A e(Mry)any limited by guwantee) TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025 beat, rhwhm and pitth. find Vol - mId 7th SI1. let's ueate . teaching cclnpositicn in the Nalicnal Cun111uM kn mus. Schod rws1etterS go a term to ccrfnmunicate ow offer to ScIS deaty. to sigwt to national develcfments and to hdp open up imixknt 0)ntic5. Sc1¥ Develow)enl Managers continue to build relationships with sch(5 aThl si4wI Ihem lo devdop their SdKd Mu&c Educat Plans. We hekl our first S¢hoYs Cfeltt at Wdlirtyi Cdlege- this 4vas a successfvjl day cf)en to sthwls alxoss the of Berkshire. We had c.1C(J staff atteTrJiThJ arKI reVed highly po$ve feedback rale5 on all sessions. It was a great Op[tUnIty for teachers lo come Icgether aTrJ nefvth. as well as leam new things frcffl a rar of wthsws t#)th primary, and spec1 schcds. We also engaged wr industy partr5 tho had trade staThts on site and shcmtased ow music aNI Instrnent rescuces. Stra We continued to support singir¥J in scIS thrOh wr SngiTr4 Devebwent CocYdinatOTS wcxk across the Ccwnty with all supwts'rvj their iThJivKlual needs. This is a teskX)ke SL4)W)rt functK)n offered to every Sd01 and can range frc4n SUPFrty1 wnnirg Cirs. sigrwstir¥J to resources. offering CPD training to norwkilists as well as siryng assemtty adviee KI Kkas. Our JLr4or Music Festival I))ntinl to te a hjh&JhI cl each lem) the gr that saw in 2&24 ethtinued in 24-25 with a tota of g perfartt$ across ts year. The theme Ihis year was 'A night at the movies, featuriry p)wlar TV aNJ film MUS as wdl as songs frcth The Wic Flute. In totsl 121 schods lts)k part lan i.r•.. fif 7% nn th•. pr•vKMJS y•ar} ine.lithjiThJ staff acCesr singing delNery CPD with our sirIng develeynenl coordir. A totsl of 3440 stuts perfcthied across the year at The Hexwn Theatre which was an inc¥ease of 14%. We also eontinued our fantsstic SirKJirvJ Cafes deswd to $4)port osdw and those liviry with Parkin,5 OT demtr.a thrcwgh PQWEr of Mus. These sessions are hekl in t41mmunty venuès and eare homes across Berkshire, offering a wdc¢JnirKJ Iwapeulic enwronment. Each Se$C includes stfuctured musical aCtNItJ1ng. ¥bd mcwement4dlMd by tirn fu tea, c¢ffee, aThl conversation.
THE BERKSHIRE YOUNG MUSICIANS TRLKST (OPERATING AS BERKSHIRE MUSIC TRusn {A e(Mry)any limited by guwantee) TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025 Partnershi We continue to have a skng fooJs partnerships as demonstrated by our SenK Leader rde (Partnerships, Progress & Developmenll as WEII as Mhjde Ler rc4e of Partnerships & Inclusicn Devdopment Manager. Both parties have thed on mwntaining current partiws as wdl as seeking OLrt new parthers where the need arises. We have thed cktsely wth ReadiFrf)p. CUUre Mx and the Road( Academy Foundatic) again this y•ar wl)o • tr k•y 'ith are to share a vision of support for children and yDLr#J people ayoss Bthshire. We have 1st1ed dosety OLX nehrtr. Slcrtoh Music Service. over the past year as the initial, Iransilic year of the new mus Hub Irbve5tment Fkn9rme for fu1rvj frcTh the Department Educat"on frcffl September 2024. This partnership enabled mcrfe cc41aitiative th almost straht-awaY tt)e benefft of children and sng people across Bthshire will to have a posthe Unpt C the ¢¥QunitIeS we can provide. We tin(d to run Trinrty arKI ABRSM ex seysicns our sttKJents a there is a decline in numters as can be seen in the trend &ross the last 3 years. Our numbers decreased to 431 frcffn 488 exam entries in 202&2024. or these 27% passed. 46% gained a merrt 21% gained a distsnctw. 5.3% of the lotsl number of entries were Grade 8, this is decrease of 7 entrs o)mpwed to la$1 year. 44% of the Grade 8 entr5 ad)ieved a distsncticn, 390A achieved a mertt 1Pk passed. of the total number of entriès were for ARSMIAdvanced CerlifiealelDplema V, this was an wease of 3 entr (x)mpared to last year. 60% of the AFISWCertificate entries achwed a dIstitiC. We also SUFWt students lo ex•ns with the Teactrts Bo¥d Trinty Rock and Pw Exams dependiTrJ on thit is wroprwte fLY each $twJent We we unk to c(Al data Te5Utts. Fundi We successfulty for f1r0 fuThJirwJ thxiThJ ihe £43,087 from Greenham Common Tntst for a v4W crf wcyects to imwoves access to music children in West Berkshire £1350 from Bthshire Commthty FCMJndatiC SiTrJirvJ aifes Equality. DNerW & IndusK We remain ambrtiw5 in our inlenliws to weckth Iwriers fty thikjren young pecf)le in acceswng music OpPne$. We expthd OUT irluSic wojecls Ih's vath increased &liwty in SEND settings across the cnty as well as a rw project working stts over 16 MIng disabilrts are gaining skills for employTnent arKI independence in partnership Berkshire Cdlege of Agn11yre. In additicn. we wefe aNe lo build an inclusive Instr)ent litxary due to the Capital Gr1 received through the DfE. We were only the secoNJ Music in the UK lo have deve1cd Or of these and rt ha5 been trumFeted as a great exarne of gocd praclice. The SwrKl8ewn 6 has been our most Plar item so far arKI we have conb.nued to add instruments to the library to ensure we are meeling the need frryn SC)?15. We successfvlty develcped a F(tsthve relab(fftsl¥p 'Mth toth Bracknell Fest and Maidenhead Virtual Schools last year arbj have delNered three small musK prcgrammes for care exFenenced yourYJ people arKI have started a handful of leamers wt to erw ¥Mth to instrLmental teaching through the virtual sChS kyogramme. We continue to SUPFNt SEND St K1 fanilEs low rwne with our rarye of Ixwries and remissicns to ensure fin is not a barrier to engagry th mus.
THE BERKSHIRE YOUNG MUSICIANS TRLKST (OPERATING AS BERKSHIRE MUSIC TRusn {A e(Mry)any limited by guwantee) TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025 We continue to C¥Jer cur enwrcnmental impxt aThJ slaff m1$ Ixmpleted cth literacy trainiThJ thin the year. We worked th P05ftNe Planet to start meagjriry our Cart>on Fwlprint as a result of this trainiry so that we can really measure the improvements we are makiry. As part of our effts for sustslna1ty, our Resour Team supported a tharty that was Its1ng for brass instrumwts to Sond to tho Red Earth Charity in Uganda. We (l3ted over 150 instrumersts that were due to be recyded which enabled the fcmat of the MATIC Brass BaTrJ in Eastem Uganda. The band "r together tslented youry musicians from very FQY njral Wgrounds. offerirKJ them purp)se. ccnfKlence. and the joy of music. Money that they trom musical p&fa. arKI otrr event> is fiJrlng the children's school fees and vocalional traiNng. We prcrtjuced an Environmentsl Intenticfi Ran vthich builds e¢b vthat we have alrea0¥ achieved in this area, and sets out Jr intentions for the fulure in mair¥J our5efves more envircfimentdly sustainable. As part of this we have intrc#Juced an EV car scheme and orle to scPme to enwage telter rgY usage by staff but also lo enhance beneffts offered lo staff. Finanal review The finanual resuhs are set uJt in the Statement of FrwKial Athrbes demonstrate a surplus for the year of £716k12024. surplus of £100kl. In order to comply with attnti st¥thrds and, in particul¥ FRS 102 Post.Emplwent Beneffts, Tesources expensed indude a charge of £3k 12024.. credrt cl £69kl for penSIc costs rel'ng to tr Defined Benefft P•.n4iM .8rth•m•. fN admini8trativ•. staff Ttr4' ae£cthlirwJ standard requires that the pensions liabilty is reeognised as the benefrts are eamed, Mt vAn ty ¥e due to be pahj. aKI ace4)rdingly an estimate of the liabl1.eS arUed fcff the enj is provth by stheme's actuary Ifor fvll detsils see Th)te 261. This adjustsmenl is calculated al the year•end and is not rTr)nitored tgh(Art year when reviewirvj cperaling financts of the Company. The total value of the $the Ik1ts'1ty as of 31 August 2025 is £nil12024'. £340kl as shwi in the bal For operatsonal wrFoses, the trustees use the"Cr11rj sU5 I Idefiutl. of the Unrestr funds as a more meaningfvl perfomance measure. LnrestrKted c¢erth'ng surF4us for the peritrj was £113k12024.. £77kl as 2025 2024 UNeJtd(ted Re5trtcd lrtome 3.161 1.453 3.319 1.149 Expendlture 13.3481 11.217) 11.242 11.244 Operatihl surplusl Ideficiti 113 236 FRS 102 adjustment Unre¥lise¢ investmeni 8ain I Ilossl 343 1691 24 Net Sncome Ilexpendltur?I 136 oFraliCal resurts demonstrate that the ctiTtsd to be one of challenge Operatal. h¢)wever we Successful cLaimed and received Orclstra Tax prev•)us which resulted in additsonal ir)me of £122k. this had not been FVided for in the 202>24 fin¥la1 sl*mpJts. 11 has been to raise a(kJilK4)al in¢)e from 5thIrj r¢xrfns at StCthan C(yJt of £20k (£2024 £22kl. a5 well a5 &vning interest inco¥ne of £21k12024 £1) rme from WluS)n prqects of £25k {2024 £nil}.
THE BERKSHIRE YOUNG MUSICIANS TRLKST (OPERATING AS BERKSHIRE MUSIC TRusn {A e(Mry)any limited by guwantee) TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025 Sbjdent numbers decreased thrChOut the y by . The cosl-of.Irwng crisis ccrtinues to affect many families and music leSSS we aw an early VlIM of any dOturn. As a resul( our fees from Sessons and en$eme$ indLKlirKJ aid de(eased by YA sear-CTryEar to £2.754k (2024: £2.812(). I)h some savirvJs have been m rnng fX6ts. overhe•Js ly unaffert, vith Music Centre premises Costs rlni[¥j paAe the ¢Mtraclual tenns. Inccffle Overall total irKc¥ne increased year on star to £4.914k (2024: £4.56Tr1. Fees from Pa Scho $Son5 ertsembles shtrId a decrease of 2% to £2,754k 12024: £2.812kl. Govenwnent fundirKJ was reF4Jted at £1.157k.I2024 £1.234kl. These are reslricted fiJrKls wovided SFecfficalty to suppjl ddivery of the NatiCal Plab for MUSK E¢knati tFwh first access projrammes and MUS hub actimtses logeuw funding ftom the Department of Educati to suprpjt thè Teachers. Pension Sctrme. We dso received additla1 restrthd govemment funding of £262k to yKthase musul instruments ltrh a capital grant. The instrunents will be I*e¢ted over 5 years. Other irKcffie rwsed Ihrcwh music related activibes suth as examon5. concerts. instrument hire was irrtreased lo £515k12024". £450kl. Grft Aid income and OICStra Tax rKcme for >ears Ythich was rM)t Previo promded fc amounted to £141k.
THE BERKSHIRE YOUNG MUSICIANS TRLKST (OPERATING AS BERKSHIRE MUSIC TRusn {A e(Mry)any limited by guwantee) TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025 Total expendiiure sPtrMd an irK¥ease to £4.skI2024: £4.386k): Contracted staff costs were kh%er at £3. {2024.. £3,087kl, desprte a pay increase and the rise in Employer National InsLrance. This was a5 a iesult cl S¥h1 recfurtmenl to SelfmoYed teachers t¥117 witl) lo a dgfirxl (x¥)tslbUt Scheme for employee5 in May 2025. Fees paid to sdf0MoYed staff %%ere inefeased to £458k 12024. 375kl thje to highèr rates paid and replacirKJ most teachets that left thrirKJ the ye self-emplosed leadlers. Event costs were increased to £303k12024'. £2Slkl in line th an increase in and tour inecthe. jvemance costs were increased lo £105k12024". £57kl due lo an incr& in use of legal thiee in relation to the new pension scheme. a<kJiticl art fees rUled for Ajts CouneAI FundirKJ and prepanrYJ the s)missIOnS fu I¢$tra Tax. Cashfiow There was a r£t inllowol cash drj the pr Yth cash balms of £1,5012022: £1,Thl at year-end. The total value of restrted fvnd$ hehl at ts Ye vas £281k12024'. £46kl. The increase was primarity due to a caprtal grant frcffi Arts Cnl Eroland to specfficaty used lo wrehase Mus1 instruments. vthich wll be depreaaled over 5 ar$. Income fundirKJ from Arts Cun¢il EnglarKI was used lo diredy slppgrt our activitses as leader of the Berkshire Music Hub. vAth no anCe carried fwd. Other restricted funds relate to donatlons specmCal provlded ty Klivkluals (ff ganISat5 to prOe flnanclal suppcfft for students In the The trLL4tees have a risk Ment $treqy comrises an nUal review of the risks Berkshire Mus Trust may fxe aTra establishes s5 aTrd w&xdure5 to mthgate risks KIentIfd. The trustees ¢M$er the mw risk$ 8thshire Music Trust ¥e'. Arts thnc41 England fXIng C£tinLs to be conffimd on a one-y eyrle. currenty confimed until August 2026. givirvj limrted fcnvard certainty cffl Ihis p"c of ourfurKIiry. Uncertainty created by Fersislent naticffld e0)nn InSts'lty arKI 5truthral heathwnds, music lessons being an earfy vKlim of Jrn in the ec(mmy. Rises in infiation aThJ inceased IMTrJ costs affecliro ability to pty staff adequately and liMrj ow fees increasing rate. ese The trustees have reviewed their reserves duriTrJ the . It was agreed lo maintain the existing threshold of reserves (three b'mes avwage le¢lar monthly exFerKliturel as being adequate ajainst costs arKI that the furK15 inveskd Y1h IFSL arKI Flagst te divested as a last res. The level of exFend*e reserves as of 31 At 2025 vrds the unrestricted of £2,867k less fixed assets £1.695k. a total of £1.172k {2024: £1.192kl. vknich equals cu 1Jgel reserve of £1.2 Milln. appyoximalely 3 months, experKlrture.
THE BERKSHIRE YOUNG MUSICIANS TRLKST (OPERATING AS BERKSHIRE MUSIC TRusn {A e(Mry)any limited by guwantee) TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025 strudure, governance and management CeSttI The Berkshire Y(wrvJ MUSI$ Trust lowating * Berkshire Music TrusL fcimerfy Berkshire Maestros) is registered as a charitab CpanY limital by vrds set LP by a ManoranthTh of Associati(. Trustee Board The CoMpY is managed by a trustee b)ard. Thè board is U.MatY resporsible for the aclwities and perfornian of the CCpany. However. day to day man0Fml L8 delegated to the Chief EXu"Ve SUppted by a sen Le•Jership Team. The board seeks to have a of trlee$ Y1h releVt skills and exper. Buiklir¥J on the c(xnprehen$ive skills audit ¢dUcted in November 2023. the sthequent recruth)enl drive successfully attracted new Trustees, signfficantty enhancirKJ the Boards exFerti'se in tiCal ¥eas suth as trAtsirtss strategy, inusive marketing insights, riguous finanua ccffltrc4. cnXI Y¢)th VoKe •Jvc¢xy. JHJning perfecyy with Arts Cwncil England's Strategic pnorth"es. TIM'S woacbve apwoath enswes the Board maintsins a rcbust and dNerse skillset to govem effectively. This pr(ws wll be urthrtaken orvJoiry by Ihe t¥)ard as part of the anned trustee reuuitment tyde. In additKffi to the trustees there ¥e also representatives frcth the Local Authorilies.. Richard Davies IReadingl, Andrew Gray Iwokinghaml, Patric Smith18raekndl Fe$ll, Julian fisi Iwindxff & Maidenheadl, and fven Jeffties (Wesl Berkshirel. Three repwntsts.ves frcyn 8erkshire MUS Trust Staff Assocwts'on and the Chair of th•. R•.th8hI. Mii%ie. TnL%t Ytxrth JA1viry Flwd e also invited to attd Board meetings ItSe represenLth'ves th not have Iruslee powers). The Articles of A$StIon require that e¥h year third cl the t(rd retire and, rf eligtsle. seek re4leetion at the Annual General Meeting. New trustees apinted wthin the year are rewired to stand re-election al the Each trustee urthrtakes uC1)n trainir#J which of a efirJ by the Chief Execvtive and Chair of trustees on their roles and $rS1.1[11es. They are fwnished wth a range of informat lrterature for fvture reference. Emphasis is the legal $latus and respmsits'lrfs of a twstee. The full ard meets at least six times a Ye to oJ)sMler oNrall pthnatxe, fi]le direction aThJ strategy. Ccfflmittees ccfjnw51ThJ InBtees, the CEO and other aFpropnate Sen managers, support the board by considen.ng matters in greater depth and maintaining a doser lit the Ccffipanys executive management. These committees gerallY have knwxeculive. ro, ex(pt vA)ere financial arKI OFerational control prOce¢re$ require trustee levd auiyKrf. CLwrenty, there are three Commrttees exh chaired by a truslee vAth ottr men)ers dTavm from trustees, staff, exlemal exrtS as required. 11} Frbance and Investsnents Ccffimittee. has expanded its mit Operati(al and ycperty finance to stralegitalty manage KI cptimise the Tru5fs surF4us a5se15 through focJJsed investment approach, alryhle its core responsitx"Irb"es of mon"ng aTrJ rewewing operatnal and finanal Ferfonnance. ensLThg •pyriate financHI ccntrds. risk manaJement. Gvernance. and statutory audit.121 N¢Jminations cmittee. reskxYts*)le fu cxerrj the trustee aNyintment prLKess, induding skills audits and recnjthent lo maintsin a diverse and skilled Bo. {31 Remurrat10n Committee, which is tasked with recommending arKI overseeing remunerakn structures aThJ pTXb" tr) ensure Ihey we fair, CoMtitiVe, arKI alwed wth the organtsall.S values, strategy, twformance. Page 10
THE BERKSHIRE YOUNG MUSICIANS TRLKST (OPERATING AS BERKSHIRE MUSIC TRusn {A e(Mry)any limited by guwantee) TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025 Pay w11cy key marwent Fets Key m¥went are considered to be the Chief ExecutNe memters the SeTh"or Leadership Team ISLTI. Their salaries ¥e VId each year by the trustees and Y iryaease is usually at the same rate as other staff. Heahh & Safe and Child ProtectiL The hearth and safety of staff ¥¥J Stents together vAlh chikl wcrtection are wimary t4)nC to the trustees. I key staff undertake toth first fire marshd training and dl staff are rne aware of their Lywn duties arrtj reSponsilit$ for heath and safety issues. patIL¥ attention is to risks to staff students frc¥ prolonged exposure lo hgh vc4ume instrunents. Berkshire Music Trst rrent reryirerrents of the HrAne Office and Department of Educati IDfEI to arrange the registration arKI Enhanced DBS check$ fry all rw Staff. Al stsff are required to complete "Declarats. of Disqualrfi¢ats"" and undergo Prevent trn1r. We hold cffl and all wrsonnel. rit to work, medical disqualffickn'm checks in li ¥Mth OFSTED indudir¥J home address arKI Nl number- line with DIE Guidance - Keeyng Chil¢en Safe in EdKatrc. DBSS e regulty rfrClthed fLY all staff a regular cycle of safegu¥ding trainiry in Flace. Th•. tnistw.s ar•. alsts Ih•. dir•rtNs. rtf fv. cxjmpany the rwoses of COMpY lawl are responsible for preparing tr Iruslees, repJ1 and tr fina31 statements in &COrdar wilh tyable law United Kingdom ACunting StarxlaTd5 (United Kirdn Gffalty Acwled kcwntirvj Practice}. Ceffipany law rewires the trustees to wepare fmamal ststements for each ffinanck11 year. Under ccthpany law the trustees musl not approve fr financial ststements lesS they are salt5fied that they give a Irue and fair view of the stsle of affairs of cumpY aThd of tts irn re1¢e$ applicaliC of rescurces, including its incc4ne ar expendthre. fc that p. In prepanng trse financkal statements, the trustees are required to.. select surtable accountirvJ pdKies aFWy them eonsistentty observe the methods and prinuples of the Chanties SORP IFRS 1021 make judgements and accowb'rg estimates that ae a$ale pntht; ste whether aFplvble UK Accwntiry Stsndards IFRS 1021 have been frASmd, sU.e¢l to any malerHI departures disclosed and ex[Aai in Ihe financHI stalements.. prepare the finan¢pl statements a goiry cmm basis wdess it is inaFVtyiate lo presume that the nY will OtsnUe in Iw5intss. The trustees e re5FQrts$ ts keepirvJ adequate recuds that ¥e suffi(>ent lo show and explain the c¢mpanls transactions and disrbse reascnable acr#Jracy al Y time the financial position of the company and enable them to ensure that the financial statements ccffnply wth the Companies Act 2006. They are also resble for safeguarding the assets of ts o)mpany and hence fcff takiry asonae steps for the PreVentiC and detecti crf fraud and olher iThegularities. Discloswe of informatic(b to auditor Each of the per$C ¥tho e tntstees at the time thi% Tntstees. reF#J1 is apwoved has ccybfimied that.. so f¥ as that trustee is aware. thwe is rKJ relevwrt audit wrformalion of whth the companls auditor is unawdre., and that tsuslee has laken all the steps tt1 cwht to have been tak as a trLtstee in cr to be aware of any relevant audit 1nfcfftatlc a1 to establth that e4)mpanls ajditor i% ware of infomiatim. Page 11
v1181$3rèTl64xM)R. ZHWVCF#JGPTR 11 F¢b3J26 13a2321wr (urcOlO Irip 14153 THE BERKSHIRE YOUNG MUSICIANS TRLKST (OPERATING AS BERKSHIRE MUSIC TRUST) {A¢ompany linwted by guarantee) TRUSTEES. REPORT (CONTINUED) FOR THE YEAR &YDED 31 AUGUST 2025 Audrt Having been re-apwinted folknMNJ a c(xnwehensi¥e lender wocess ¢¢)ThJucted by the F&P Ccrtnmittee last cycle lat the dUs10n of their in fNe-yEar teThnl. Jar5 Kre5kn has continued lo serve a5 our Audrtors. Followry a rvJorous annual perfumance wew, ts Trustees are F4eased to confimi their continued engagement for the upcomiry ar, with Ihe nexi f(ffM terth Frfocess antipated in three years. twme. alwjning best pr&tice 9)vern¢e e$. Apwoved by order cl the members of the oftruslees •KI ther L%half ty. J Carroll Chairman of Trustees Date.. 11 February 2026 Page 12
THE BERKSHIRE YOUNG MUSICIANS TRLKST (OPERATING AS BERKSHIRE MUSIC TRusn {A e(Mry)any limited by guwantee) INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF THE BERKSHIRE YOUNG MUSICIANS TRUST (OPERATING AS BERKSHIRE MUSIC TRUSD Opinion We have audited the financial statements of The Bthshire yJThJ Musici5 Tru51 IcyeralirKJ a5 Berkshire Music Trusti (the 'charitable ccrfnpanll the year eThJed 31 Al1 2025 Nthich compnse the Statement of financial activibes, the Balance sheet. the Statement of cash flows and the rdated notes, including a summary of signrfi¢ant acKsunting p)licies. financial reFQrtI'ng framewxk that has been appl in thwr preparation is applicable and United Kingd) Ace4)untirKJ StarKlards. inclLhdiro FIrUal Reporting kndard 102 'The Financial Reting Standard apF4ice in the UK aKI RepuUi¢ of Irelth. {Unrted "ng Generally Acwted A¢untIng Practice). In our opinion the financial statements.. give a true ar fair of the state of charIte ccryanys affats as at 31 August 2025 and of rts ineoming resourts5 and app1KatI of reSr, induding ts incne arKI exFerKlilure for the year then Pract", and have been prepared in a¢ccdarKe vAth the reqUIrents of the CCInleS Act 2W6. Basis ftx opinion We CdYthd ow audil in a¢cixdan¢e ¥Mth Internaknl StaThJas on Auditing IUKI IISAS IUKII and applicable 18w. Uur respongibilibes Un¢Jer those stwK1ard$ are tunher des¢rlbed In the Audltors. re$pon$lblllVes for the audlt of the financial statements seetie of ¢JJr rewt. We are erdent of the tharrtable e4)mpany accordance th the ethical requirements that are relevant to wr art of the financial statements in the Unrted lfjngdom, induding the Fin1* Repth'rKJ Councifs Etr4¢al StaTrJard. aThJ have fulfilled our other ethical reSPs1.1es in ace4)rdance wth these requiremerts. We believe that the dit evKJence have obtained is Sufficient arKI aFprcpnate lo provhje a basts for i)ur cpriwjn. Conelusions relating to going toncern In audibrKJ finarKial ststements, wè have CCffldJed Ihat Ihe tru5tees' w of fv goir¥J concem ba$ of accounting in the preparab.on of the fiwcial sLitements is aFprcpriale. Based on the th we have perfed, we have bjentified any material unCethntS relatirg to events or tonditions that, irKIivKlually or cdlethety, may cast ffiCant th)ubl on the chwitable ccffipanls ability to continue as a gciry ¢crern ts a FWKXJ of at least months trcth en finanual statements are aUthSed for issue. Our rpOnsIbl1111 and r•sponwbili1i of th• tttee$ 1h respect to going c£mcem are desuibed in the relevanl seCtiC5 of this re Page 13
THE BERKSHIRE YOUNG MUSICIANS TRLKST (OPERATING AS BERKSHIRE MUSIC TRusn {A e(Mry)any limited by guwantee) INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF THE BERKSHIRE YOUNG MUSICIANS TRUST (OPERATING AS BERKSHIRE MUSIC TRUSTI ICONTINUEDI Other inf0m.0Tr The other infcffl)atien comwises the included in the Annual rewt other than the financral statement5 and wr Audrtors, reFrfXt therecffi. The trustees are responsible the other infonnab.on contained qthin Annual repc¥l. l)Jr CPIn on ts finla1 stslements does not cover the other infomialion and, except to the extent otheIse eX1¢Y stsled in reF&¥t. we () not expyess any fom of assurance conclush)n therec. Our iesponsibiltty ts lo read other infcffmatKn arKI, in doiThJ so, consider whether the other infom1alic is materially InCL51ent the financia slatemenls kTre&3e obtained in the cowse of the alit, otherwise appears to Ix malerilty misstated. If we identify such material Insisten¢$ or apparent material mi%ststements. v are requed to delemiir£ Nthether this gives rise lo a material misstatement in the financval statements themsdves. If. based on ts wyk we have PerrMed, we C(ClUde that there is a material misststement of tiys other infra. ¥e required to reFUt that fact. We have nothirwj to repyl n this regard. Opinion on other matters prescr•ed by the Companies kt 2006 In our oprion. based cn the wcrfk Lr•Jertaken in the ¢tyJrse of the autht.. the inftjmiatl given in ts TnL8tees' ReF#Yt tr frwKial year the financial statements are pryed is CL$45tent the financid staternents. the Trustees. Flewi has teen wepared in acwrdance IMth legal requrements. Matters on which we xe requirnd to rep(xt by exception In the Ih1 of our krvAedge understsThJing of Ch¥itae and its enwrcfflmenl c1)tair in the ¢wrse of the wdrt. we have not thntrfwl mrial rrisstalements in the Tntstees. RepcAt. We have nothirKJ lo reKX)rt in resFect of the follwfj mattws in relat to vh¥ch CLYnw¥es Act 2006 requires us to rewt to ypu rf, in cwr (pini. adequate acccAmtsrYJ reeuds have not been kepL rA retwns adequate KIit have t been received Irom branches not visrted by us." or the financial statements are not in agreement Mlh ts a¢i>)unting records and relwns,. c certain disclosures of tntstees. reMurratP s[rfd by law are 1 m; or we have not received all the infcthiaticfi and explanalicns we require fcf our aud¢ or the Intstees vffje rbjt entiUed to Prepare the fla1 sLements in acCOrdar with the small ccffipanies regime and take thantage of the small ¢les. exempts"CS in preparing the Trustees, Rewt and from the requirement to wepare a Strategic ReFrt Responsibilities of trustees As exrAarMd more fully in the Tnjslees. resFrfisibilitie5 ststernenL the tru5tee5 IvhD are also the directcfs of the charrtJle company ts the purposes of company lawl we resFX6it4e for the prewats" of the financial statements and bw.ng satisfied Ihat Ihey give a true and fair view. and such intemal C(tr as the trustees detemiine is necessary lo enat4e the prra1]On of financial 5Litements that e free from malersal misstslement, whether skn lo error. In prepariry the statem. the trustees ¥e resFKMSt)le assessing the chalitae oxmpaWs alxlty to )lInUe as a going c(¢M, disck)sing, as applthe. matter5 related to going Cc(rn and usrg the going concem basis of acwjntiry unless the trustees erther tend to IkWte the chan"lae company or to Cease Operati$. or have ro realistic alLtiVe but to do . Page 14
THE BERKSHIRE YOUNG MUSICIANS TRLKST (OPERATING AS BERKSHIRE MUSIC TRusn {A e(Mry)any limited by guwantee) INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF THE BERKSHIRE YOUNG MUSICIANS TRUST (OPERATING AS BERKSHIRE MUSIC TRUSTI ICONTINUEDI Auditors. responsibilities forthe audrt of the financial ststemenls We have been apFrf)inted as jdit secticm 145 of the Charilies Act 2011 rewt in act4)rdare vAlh the Act and relevant regulatKns made han9 effect thereLnder. r cJjectives are to ¢)btain reascvwtde as$wwe at(xrt vthether the finela1 statements as a le are free from material misstatemenL whether due lo fraLad cf err, to issue an AUdIt5. re1 that includes our opinion. ReasOnae assur is a hh levd of assurance, but is not a guarantee that an audrt conducted in accordance wth ISAS IUKI will aws detect a malerial misststement ¥then it exists. Misstatements can arise from fraud or error are ccnstyded materia rf. Individual c in the aggregate, they could reasonabty be expected lo infiuence the ecCrfKrfn deci5Kfis of users taken basB crf these fInaVal $tslements. Because of the inherent limitstions of an abjit. Ihere is a risk that we will not detect all irregularibes. including those leadir¥J lo a material misstatement in the ffinanc ststements LY Th>KPIl3nCe regu1alfv. This nsk increases the more that ComF41 wlh a law wulatKn ts removed frcm the events and transactions reflected in the financial stslements, as vall be less likely lo beCce aware of instances of non-cc¥nplrance. The risk is also greater regardiry Yregularrtie5 due lo fraud rather Ihan error, as fraKI invc4ves The spe¢ffi¢ wwedLre$ ts this er#Jagement Ihat we deygned KI pwfomied to detect material misstatements in resFCt of irregularities, indudirwj frd. were as fd10". Enquiry of manJJement. those charged govemance arcTr acbjal and potential litigation and claims: Enquiry of marwJement to idenlfy any instances of nOn)mplianCe wth laws regulalirms; Reviewirvj minutes of meelirKJ of those charged vAth 0)vemce.. Reviewing financial statement dis¢kUreS testirg to wting dOcthmentatic to assess compliance wlh aFpIKable laws and regulatts: Perfomiing audit wor over the risk of management override crf contrrjs, including testing of froumal entr5 and other èdjustrnents frA aFprowaterw, evaluating Ihe lyJsirs$ rationale crf Scant transactions ¢xJtsKle Th)mial Urse of bune$S and a¢nti estimates bias. A fuflher descripkn of cw responsibililies for the wjit of the finarrial statements is Ictated cn the Financial Rwrting Council's website at". .fre.01 .Ukja1tCryes sikn"lth'es. This de5P1 fm5 part crf our Audrte¢s' reF•Jt. Use of our rep¢)rt This rewt is made sddy to Ihe chwilable cc¥nps members. as a W, in acc&Ydance vth Chapter 3 of Part 16 of the Ccfflpanies Act 20C6. Our aLbJit wk has teen undertaken so that might state to the charitable companWs members those Matte are required to st to them in Auditwj. reFVrt and no other purpose. To fvllest extent F¢rtted by law. we (b not accept assume reS[sIbI1ty lo anY(e other than the charitable npanY ts merrt)ers. as a bth. for ow aAIit %th. kn this report. or for tr opiniMs we have fomied. Page 15
THE BERKSHIRE YOUNG MUSICIANS TRLKST (OPERATING AS BERKSHIRE MUSIC TRusn {A e(Mry)any limited by guwantee) INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF THE BERKSHIRE YOUNG MUSICIANS TRUST (OPERATING AS BERKSHIRE MUSIC TRUSTI ICONTINUEDI DaTren O'connor Bsc (Ho) ACA FCCA ISeni¢x sLthrtory audilor) for 8nd on beha of James Cowper l(reston Audit Forbury Road ReadirKJ Bethshire RG1 1AX Date.. 16 February 2026 Page 16
THE BERKSHIRE YOUNG MUSICIANS TRLKST (OPERATING AS BERKSHIRE MUSIC TRusn {A e(Mry)any limited by guwantee) STATEMENT OF FINANCIAL AcnwTIES IINCORPORAnNG INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR DED 31 AUGUST 2025 Restricted Unrestricted funds funds 2025 2025 Total funds 2025 Total funds 2024 Note Income from: ations grw chan"tae a"t$: Fees Govemment fundir Otr music related &tiMties Orchestra Lix rel Investments Other 1me 33,825 21.193 55,024 33,361 2.753.531 2.753.531 1.419.056 515.729 120.663 21,179 28.520 2.812,069 1.223,959 1.419.056 515.729 120,663 21.179 28.520 24 19,048 28,589 Total income 1.452.881 3,460.821 4.913.702 4,567,19J Expenditure on: Raising funds Charitalle athbes 55,418 3,292.473 55.418 4.509,631 55,925 4.429,493 1.217.158 Total expenditure 1.217,158 3,347,891 4,565,049 4.485.418 Net incorne before net gains on investments Net gains on investments Net movement in funds before other recognised gainsl{10sses) 235,723 112.930 23.969 348,653 23,969 81, 777 18,435 235,723 136,899 372.622 100,212 Other rxognised gainsl{lossts): Acluarial Ilossesygains defined er*fit Pens schemes 343.0 343.0 (69,CQO) Net movement in funds 235.723 479.899 715,622 31.212 Reconciliation of fund5: Total fijnds broLuht fcrfward Net movement in fuTrts 45.778 235,723 2.399.284 479.899 2,445,062 715,622 2,413.850 31.212 Total funds carried forward 281,YJ1 2.879,183 3,160,684 2.445,062 The Statement of Fin1 ACtsv1h all gairs arNJ l(6ses reCtl$ed in the ye¥. The notes page5 21 to 51 form pat of these finarrial statements. Page 17
THE BERKSHIRE YOUNG MUSICIANS TRLKST (OPERATING AS BERKSHIRE MUSIC TRusn IA company limited by guarantee) REGISTERED NUMBER: 1673689 BALANCE SHEEr AS AT 31 AUGUST 2025 2025 2024 Fixed assets Tangible a55ets Investrnents 14 15 1.695.184 f.546.9S4 100 1.695.284 1.547,054 Current assets Stoc*s Debtors Investments Cash at aTrJ in hwKI 16 17 18 12.5C 462,780 639,984 1.508.983 282,275 615,394 1,368,964 1624.247 2.266,633 Current liabilities Creditors.. amounts fallwwj vAlhin one year 19 11.146.711) (1,016,489) Net eurrent assets 1.477.536 I.2, 144 Creditors.. amunts falliNJ due after more than year Net assets excluding pensi¢)n asset I 112.136) (12,136) 3.160,684 2,785,062 lialty 28 (340,C(Q) Total net assets 3.160.684 2,445,062 Page 18
virls)raLYèTr&thTr Rd. zHvCGPTh 11 Feb 1352321wr (urcOlO Irip21I53 THE BERKSHIRE YOUNG MUSICIANS TRLKST (OPERATING AS BERKSHIRE MUSIC TRUST) IA company limited by guarantee) REGISTERED NUMBER: 1673689 BALANCE StrE (COtiriNUED) S AT 31 AUGUST 2025 2025 2024 Charity funds Restrthd lunds Unrestricted furKIs Unrestricted furKls exdLbJirvJ pension asset Pension reserve 21 281,S11 45, 778 21 21 2,879,183 2, 739,284 (340.OCQJ Total unrestrithd fuTrJs 21 2.879.183 2.399,284 Total funds 3.160.684 2,445,062 The trustees acknedge tsr re$rSit4.1es for o)mF4yry V1h the requ¥ements of the Act resFect to accounb.ng records and yeparalim of finan0 statements. The financial ststemenls have been wepaed in accrAdm 4Mth tr PYOViSiLrn appIable to entities Su.eCt to the small eompanies regime. The finanaal statements apwoved and thsed issue bythe trtee$ and signed C t'T behalf by. J Carroll chairm of Trustees Dale.. 11 February 2026 The notes on pages 21 to 51 fm wt of these fin1* statements. Page 19
THE BERKSHIRE YOUNG MUSICIANS TRLKST (OPERATING AS BERKSHIRE MUSIC TRusn {A e(Mry)any limited by guwantee) STATEMENT OF CASH FLOWS FOR THE YEAR DED 31 AUGUST 2025 2025 2024 Note Cash flows from owkn'ng activities 24 354,014 203,077 Cash flows from investing adivities Interest from investments Purchase of tsrKJible fixed assets 21.179 1230,583 19,048 (64, 105) Net cash used in investing actNities 1209,4ts11 145.0571 Cash flows from financing activities RepayTnents of hire wythase c¢ts 14.591 (9,182) Net cah used in financing activities 14.5911 19.1821 Change in cash and cash equNalents in the year Cash cash equwalents at the teginnirKJ of tr 140,019 1.368,964 148,838 1,220, 126 Cash and cash equivalents at the end of the year 25 1,508,983 7,368,964 The notes i)n pw 21 to 51 fcm ofthese finartial statements
THE BERKSHIRE YOUNG MUSICIANS TRLKST (OPERATING AS BERKSHIRE MUSIC TRusn {A e(Mry)any limited by guwantee) NOTES TO THE FINNCIAL STATEMENTS FOR THE YEAR DED 31 AUGUST 2025 General infommtion The Be$hIre Young Musiuar6 Trt 1$ an inccwjrated clwty limited by guartee. 11 is registered in England and Wales wth charity registered 284555 cc4npany numter 1673689. The principal addres5 of the Charity ts 100 Cockney Hill. Stcneham crt, ReaJirvJ. Berkshire. RGJ) 4EZ. Accounting policies 2.1 Basis of prewation of financial ststements The finarKo1 statements have been p in valh tr Chariknes SORP IFRS 1021 . AcecJntiThJ and ReportirYJ by Chaities." Statement of Recommended Price apFAicable to charities prepariry tsir accounts in accordan the Fin1 Rem'w Standard applubse in the UK and RepublK of Ireland IFRS 1021 leffectwe 1 January 20191, the Financial RepOThg Slarthrd applKable in the UK and ReplIC of Irel IFRS 1021 aThJ the ¢(PanIeS Ad 2006. The Bwkshire Young Mvsicians Trust {cper1rJ as BeshIre thjsic Trusll meets the definibon of b1 benefft enty under FRS 102. Assets arKI liats.lths are inrtialty recoJnised * historical cost or trw$8cti value wdess ot1e Ststed in the 1devt acMuntiryJ policy. 2.2 Going concern As at 31 AU$l 2025 Ihe balance shm net assets of £3.180.284. c(ped to £2,445,062 at 31 Awsl 2024. Thc irtt¢as¢ in sets relltr thg wrront ygar oporating St[. T&%ing this into account and together ¥Mih a Str nel current asset p)srticn. the Tntstees have rOnable expectati that the ecfflpany has adequate rescrfjrces to continue in operatienal existence the feSee0b1e lulure. Actt¥dingly, the Trustees ecfjtinue to a(kJpt the going contsm ba5 in pty¥vJ the fin1 statements. 2.3 In¢ome Fees Fee$ represent amwnts Charged lessorts and ensembles and are attounted for on an accruals ba$. Assistance wth gross fees and fee remissts L¥ included in expenditure as Charitable Voluntary incorne Voluntary income (tfflprises lege$ and other dcffjations vthich e made aVailae for the general purposes cl the company. Tlw are re¢owised ¥then the amounts are receNed unless there is suffiuent evidence to FIOVKle the necewry ¢einty that the legacy or ¢S)nation will be rtteNed and that the value of the inc¢Jming rescAJrees can be measwed w1h sufficient reliabilty. Donations and grants Government funding Panents rewved under Arts c1 Engla1 arnl any of the Unitary Aulhoribes of Berkshire to subsKlise the kYOViSKm of M1¢ tu111 seN(s are rec(>Jnised in the Stslement of Finarrial Activities in the to thid) fv ap. Events, course¥ concerts and tours Ire from events, cr$e$, concerts and t(¥J rewe5ents monie5 charged for tours, receipts frcfn ¢erfrts and other furKlraisng. These mcfiies are acCcted an accruals basis and matched Page 21
THE BERKSHIRE YOUNG MUSICIANS TRLKST (OPERATING AS BERKSHIRE MUSIC TRusn {A e(Mry)any limited by guwantee) NOTES TO THE FINNCIAL STATEMENTS FOR THE YEAR DED 31 AUGUST 2025 Accounting polities leontinued) 2.4 Expenditure Expencknxe is rec(ised once there 15 a legal cf cJligth"on to transfer eccmmic benefrt to a third paty. rt is wobable that a trsfer of eccmmic benefits will be required in setllement aThJ the wnwit of the rtslwjabon be measured rdiy. Expenditure i8 classffied by activty. The costs of each &bvrty &e made up of the total of direct costs and shared costs, indudiry SUpt costs involved in undertairy each ath"vty. "rect costs attributable to a sir4Jle activty are allc¢ated directy lo that xtivty. Shared costs 1¢h conlribute to more than one activty and SUFpJ1 costs ¥thith are not altribut&•le lo a single activty are aprticEd behveen those actiVeS on a baS cClstent wrth the use of resourc. Central staff costs are 4lo¢ed on the ba$ of time spenl, depreciati ch¥ges dk¢ated the of assefs use. Expen¢alure r•sing fund5 all expendilwe inwred by the ccmpany to raise fLn(ts ft>r ts charrtable purposes indth of all fwpjraising actNitres events aThJ rKrrfharitable trèJing. Expen¢thture cn charilae actiwiies is iwrred on th"redly uThJwtakirvJ Ihe acbvibes fvrther the c(¥npanys obiects"ves, as as any associated SLVWt costs. Supwt administrat1 ts)sts e ¥4rt wxoss actsvitM l)a5is Lrf estimated spent. 2.5 Interest receivable Interest ¢4) I}d9 held dep)srt is Iru(lea vthen and the amount can te measured by the Cur. this is rallY LWI notsficaticn cl the intwest paKI (Y paydble by the institLrtth with whom the knds are deFOS"ted. 2.6 Taxation The company 15 considered to pass the $ts set in Par4raph 1 Schedule 6 of the Finance Act 2010 ] therefore it meets the definrticffi of a chane crynpany UK Wat1 tax purpos. Aceefdingty, the ecffipany is potenldty exempt frcfft taxaticffl in respect of income or capital gains received wqlhin categories ered by Chapter 3 Part 11 of the Cwatien Tax Act 2010 or Section 256 of the Taxalion of Chargeae GaIr fv£t 1992. to the extent that suth inc<>me or gains are aPpld exduswely to charrte wrFose5. 2.7 Tangible fixed assets and Ikpreciation Assets that irKINidualty cost less than £5C¥) are Th)t capitalised. The cost is WTitten off lo the Stslemenl of Financkgl A(vilies in full when purtha5ed. Assets that have been ated are capitalised at their full mthet valuE at the b.me of O)nathJn and dePreated. The value of the ¢sanat is treated as ineome in the Statem1 of F¥Wal Actsviks as a restrictgj fund. TgIe fixed assets are initi'alty recc#3nised at cost. After reccJnrfion, under the cost modd. tangible fixed assets are measured at cost less xcumulated deyecikn.on and any xcumulated impaimient losses. AJI costs incurred b bn.ry a tangitle ed asset into ts intended w)rking ¢(ltiOn shId be induded in the meaSuremt d (xjst
THE BERKSHIRE YOUNG MUSICIANS TRLKST (OPERATING AS BERKSHIRE MUSIC TRusn {A e(Mry)any limited by guwantee) NOTES TO THE FINNCIAL STATEMENTS FOR THE YEAR DED 31 AUGUST 2025 Accounting polities leontinued) 2.7 Tangible fixed assets and thpreciation (eontinued) [jewlatiOn is chty so as to kte the cost of taryle red assets less their residua value over tsir ests'mated useful Iwes. l1vj the StraVJht4r methc•J. Oepreciati¢)n is wovided on the fc4knAtvJ bases: . At and 5% of eost - At of eost . At of cost - At 33% of cost - At 20% of e4JSt Motor vehicles Fixtures and filtir Ccthixrter equipment Cther fLxed assets 2.8 Investments Investrnents are stated at the market v&e iTrJKaled by ts Rewt of the Investment Managers to the trustees at ts Balance Sheet date. Any resuw urwlsed gain or k)ss 1$ tsken to the ststemenl of Fi)ancial ACts'Wt. The Berkshire YourvJ 51Clan$ Tnt has a fiAIy Sthidi cdled Maestros Enterpnses 'mited, c¢Jnpany number 11609495. GrJJp accounts have not been prepared as the sthidiary is r1 material to the groLP. The re5uMs of the SubsvJi are discknsed in Th)te 33. Inveslments in subgdiaries xe valued at cost Itss for impaim)ent. 2.9 Stocks Stetks are valued al the l¢)wer cl eost nel realisaè4e value after makirKJ ¢hJe albwance for cknx)lele arKI slcw-movir¥J stctks. Cost all de¢t costs and ¥b apYOpr privjrt1c of fixed and variae overheads. 2.10 DebtQfS Trade and other debtcts are reecgiised at settknienl olt after any trade discc4mt offw&J. Tnents are v4ued at am01 wepaid net of any tr&Je discnIS due. 2.11 Cash at bank and in hand Cash at bark hand Irude5 ch ¥¥J shc4t.tem hthly IKiiid irjvestrrts Vlh a short malurty of three months LY less trn date of ac¢YSrf or cpening of the deposit or similar 2.12 Liabilities and provisions Liabilrb"es are recwised when there ()lW at the balance sheel d as a result crf a past evenL it is prc4))le thal a transfer of eccfiomic iefft will be required in setuemenl, and the amount of the setdement can be estimated relia. ale5 we recoJnised al the amount that the ccrfnpany anliapates rt wll pay lo setue the debt (* it has red as advanc payTnents for the goods or serwces rt musl WOVKIe. 2.13 Financial instmments The cnpanY onty has financiJ assets financial liabile$ of a kind that qualfy as basK financial instnjments. Bas fnan(aal inslTuments are inrfialty recI)gni at transacti value and $thSequty measwed at their setuement value.
THE BERKSHIRE YOUNG MUSICIANS TRLKST (OPERATING AS BERKSHIRE MUSIC TRusn {A e(Mry)any limited by guwantee) NOTES TO THE FINNCIAL STATEMENTS FOR THE YEAR DED 31 AUGUST 2025 Accounting polities leontinued) 2.14 Finance leases and hire purchase A%sets obtained urthr lure pwdHse Contra a1 finaKe SeS are caFXtalised as tangit4e fixed assets. Assets acquired by finance lease are depreciated over the shorter of the lease term and their useful INes. Assets acquired by hire purchase are depreciated over their useful INes. Finance leases are those where substsntltY all of the beneffts arKI risks of owrrship are assumed by the ccrfnpany. olgab"Cfis under such agreaments are induded m credrtors, net of the finance charge Ited to futtjre Fericth. The fine dement of the rentsl payment is charged lo the Statement of financial aCtsVeS so as to a eonstsnt pericrtlic rate of tharge on the net oblwjation oulstandirKJ in each pwDJ. 2.15 Operating leases Renlals paKI under OFwabry leases are ch¥ged to Ihe Statement of financHI actimtses on a Straht line basts over the lease tem). 2.16 Pensions Teaching staff emrAoyed by The Bthshire Young mus1an$ TnBI are digible membership of the Teachers. Pension Scheme. whh is a natal. ststutw, conth'buw, unfunded defined nefft scheme administered by the Teaclws PensIC Awey, an executive agency of thè Department for EduCatiC. Pension costs are assessed in acccdance Mqth the of the Govemment Actuary. AJ this is a mutts'-employer s¢heme w+Kse assets ond 118bill9 are not separately hlenfjflable, under Finanaal Rewliro Standard 102 'Posl4mkgownent Benefits" r( is treated as a defined ccfilribution sdme hilh a charge to the &C¥)unts fcf Ihe t.tr.cS PaKI and rdevanl discbsures about the scheme as a vthole provided n note 28. Thè Bak$'re Ycmjng Musicians Trust has a funded defined benefft sd)eme ftx members of staff we Th)t elvJiWe to jcin bhe Texhers. Penstin Scheme. The assets of this scheme are admnislered by the Row cCty of PerkshiTe pens S¢1e. This is also a mulli-employer sd*me, but the assets and IkitM"1.ts relatirvj to The Berkshire Young MusKians Trust are separately identsfwlle arKI are accounted as 1rj lo The Bthshire YouTrJ Musicians Trust. The financial statements tske accOt of the nUal vuali0n of the thfined benefft scheme undertaken by the Fen5iC(b furKfs actuar. Actuarial gains and losses lSIr0 frcffi Lpjatiry the latest actuarial valuation to refflect condthons at the balance sheet date e recDJni5ed in Ihe gains l¢)sses seclion crf the Statement of Financral iviti"es. Mrye details We in rKle 28. Page 24
THE BERKSHIRE YOUNG MUSICIANS TRLKST (OPERATING AS BERKSHIRE MUSIC TRusn {A e(Mry)any limited by guwantee) NOTES TO THE FINNCIAL STATEMENTS FOR THE YEAR DED 31 AUGUST 2025 Accounting polities leontinued) 2.17 Fund accounting Unre51ricted furKls are availab for at the diScretiC of the trustees in flheran of the general DeSnated funds c¢)mryise unrestricaed thmd5 that have been set aside by the trustees for parts'cular purposes. The aim use oflhe Iksyd is set cmrt in note 21 to the financial statements. Restn'cted funds are te furJs vthere have been reeaved for a srttific purpose and are matched awnst the experKliture as wKured.
THE BERKSHIRE YOUNG MUSICIANS TRLKST (OPERATING AS BERKSHIRE MUSIC TRusn {A e(Mry)any limited by guwantee) NOTES TO THE FINNCIAL STATEMENTS FOR THE YEAR DED 31 AUGUST 2025 Critical aecountirrfj estimates and ¥eas of11gement Estimates and jLbJgements are o)ntinualty evaualed are based on historical experience arnl other factS, inc1J1rj eXKlatscth of future events that are believ&J to be reasonable under the CircnstanCes. Critical a¢c¥Junting estimates and assumptions.. The C(panY makes eslimates assuMFlkS concemiry the fuiwe. The resultirg acLounting eslimales and assumpt.ons wll, by definth"on. seld(m equal the rdaled aal results. The estimates and a5$1P1S that have a S¢ant nsk of ¢ausiwJ a materia adjusknwbt to the Carrng amow)ts of assets Wbd liabile$ vthin the next finanaal star are discussed bel. Crib'cal areas ofjthJement'. Tangible fixed assets Tangible fixed assets are depre¢ted over th useful INes tsking lito nI residual vaues. ere apprq)nate. The actual lives cl the assets and resKlual values are assessed annualty and may vary depending a number of factos. ResKlual value assessments consKler issves such as tt)e meaning lrfe oftr asset ard Fwqeded disFwI Val5. Bad debts Using infcimation aVailae at hle balance date, the ceffly makes a judgement based on experience regardirvj the level of rrf0vis rewired to anI potentsalty uncollethble debtors. Pensions The yesent value of t Lttal Govemmeni Pensim Scheme defined benefft IHbilty deFends on number of facltys that are delemiined on actuarial basis using a variety of assumptions. The aSsLMplfv used in detenniThrrfJ the net o)sl linc(e) pensw)ns indLJe the carrying amount of the pensk)n Iklbility. Furtrmce a rdl fcThd apFYoach wojecls results frcln the latest full actuarial valuakn perfomied al 31 Marth 2022 has LEen used ty the actuary in valuirKJ the Fensions liabilty at 31 August 2025. Any drfferences kets%een the tuwes derNed frC the roll fwwd aFproath a fvll actuanal valuatie¢b %Uld impact cfi the tl¥j (Ant of the pens IlIty. Where an actuarial valLti of the LGPS at the balartt sheet date that the pension scheme is in nel asset p)$¢, the Tntstees make an a$Sment crf whether it is likely Ihat the Academy will be able lo recover shwe of the net assets n the scheme vthether by reducticns in ccrfirmed future contributicn levels by refLnds of ats frrmn thè plan. Where rt Is effisidered virlualfy certain that the Academy wll be able to aliSe its share of assets in the scheme, the Academys shwe of those nel assets is recojnised as asset on the bale sheeL Where )ilty of Ihe Academy lo recover its Sh crf plan asset will IlY be o)nfinred by mce future events this is regarded as a Ccnb'twt asset.. in these circumstan$ no asset is reccgnised and the LGPS 15 induded in the Balance sheet at £zero, any cCreSEdir1j re(hjcti in the ¢al¢ulated value of the asset passing through 'Actuarial gainslllossesl on defined benefft pens thmes. Mqthin the staleMt of Financial A¢tivits'e5. The existence and nlt of a conlirwil asset is in¢led wilhin the Notes to the accounts.
THE BERKSHIRE YOUNG MUSICIANS TRLKST (OPERATING AS BERKSHIRE MUSIC TRusn {A e(Mry)any limited by guwantee) NOTES TO THE FINNCIAL STATEMENTS FOR THE YEAR DED 31 AUGUST 2025 Income from donations and grdnts Restricted Unrestricted funds funds 2025 2025 Total funds 2025 Total lund5 2024 21.199 21.199 33,825 33,361 Grants 33,825 33.825 21.193 55.024 33,361 Total 2024 24,617 8.744 33,361 Investment income Unrestricted funds 2025 Totsl funds 2025 Total fvnds 2024 Bar interest received 21.179 21,179 19,048 T(al 2024 19,048 19.048 Income from ch*it•ble activities Restricted Unrtstricted funds fun(ts 2025 2025 Total funds 2025 Total fvnds 2024 Fees (see rv)le 71 (ksvemmenl fundiThJ lbe1 MUSK related tilIeS (see note 81 Cfchestra lax relf 2.753.531 1753.531 1.419,0&fj 515.729 120.663 2,812,069 1,223,959 450, 145 24 1.419.056 515,729 120,e63 1.419.056 3,389,923 4.808,979 4,486, 197 Total 2024 1,223.959 3,262,238 4,486, 197 Page 27
THE BERKSHIRE YOUNG MUSICIANS TRLKST (OPERATING AS BERKSHIRE MUSIC TRusn {A e(Mry)any limited by guwantee) NOTES TO THE FINNCIAL STATEMENTS FOR THE YEAR DED 31 AUGUST 2025 Fees 2025 2024 Le5xS and ensembles 2.677,891 75.637 2.779,917 32,752 2.753,531 2.812,069 Other Music related inc4yne 2025 2024 Examywtim lees In$trLvnwrt incc¥ne TOUTS Ccncerts Cwrses and vAxksP Ineluglon proJ•ets 39,754 137,283 141,592 161,752 10,203 25,145 43,497 130,555 99,349 159.533 17,211 515,729 450,745 Analysis of charitable expendrture by activkies Activtties ant undertaken funding ol Support directty activities Costs 2025 2025 Total funds 2025 Total funds 2024 2025 M*etirwJ costs Charrtable finalcia SUFI)Crft Teaching costs Music related costs Events, courses. concerts and tour5 Pensi adjustment Govemance costs 21.5LK) 21.5 167.007 3.549.255 428.963 33,363 173,299 3.593,404 468,021 167.(M)7 2.620.842 428.963 928,413 235.178 235,178 201,916 f69,OCQ) 28,490 104,728 104.728 3.306.483 167,7 1.036,141 4.509.631 4.429,493 Total 2024 3,560,341 4,954 864, 198 4,429,493
THE BERKSHIRE YOUNG MUSICIANS TRLKST (OPERATING AS BERKSHIRE MUSIC TRusn {A e(Mry)any limited by guwantee) NOTES TO THE FINNCIAL STATEMENTS FOR THE YEAR DED 31 AUGUST 2025 Analysis of Supp costs 2025 2024 549,013 70.133 550, 156 57, 786 3,540 120,223 3,299 21,278 23,276 Depreciab"on Travel costs IT costs Post&Je Tdecommunieations Staff training Recruthent 86,512 1,084 14,410 12,1S% 4,850 L 11 Inswance Bad debts Bank charges Repairs maintenarKe Premises rx)sts Legal and Ffofession ALJitorfs remuneratKYb Pensieffj adjustment 33,184 13401 28,353 41,703 117.319 41,606 29,938 28,276 9,413 24.162 38,647 64,498 7,886 (69,CQO) 1,036,141 910,648 Fwt aThl •JmYiislTalicn cy)sts are Wit Ltseen teachirg o)5ts and musie related eosts in the ratK> of 88% and 12% resFrttively. The total alIC¢at is.. teathry costs £882,60212024'. £837,0191 aTrJ music related costs £120.35512024: £114.1391. 10. Governance costs 2025 2024 AJit0S remunerat Other profesSCfi costs 29,938 41,K 7,886 71,544 28,490
THE BERKSHIRE YOUNG MUSICIANS TRLKST (OPERATING AS BERKSHIRE MUSIC TRusn {A e(Mry)any limited by guwantee) NOTES TO THE FINNCIAL STATEMENTS FOR THE YEAR DED 31 AUGUST 2025 11. Unrealised gainlllossl on investment 2025 2024 Gainsllbsses) on investm1 assets 23,969 18,435 For the yew endirwj 31 Ajust 2025 the inve5trnen¢ ii LF Ruffer resumed in a reJised gain of £23,969 12024.. £18,435). The ftmd was dI$ted in July 2025 the preedS invested in IFSL and Ragslone. 12. Net Incomel{expenditure) This is stated after thwgiffj.. 2025 2024 Dewecialion 0ftwie fixed assets Alit01S remuneratKfb 70.133 29.938 68,278 DLmg t r, rK tteS r¢¢eNed any rwnwwation12024 . £NILI. DLfiThJ the year. no trustees reNed any benefits in kind I24- £NILI. DL¥irvJ the year, trStee$ receNe(l arry reintsTremwt of exFerws12024 . £NILI.
THE BERKSHIRE YOUNG MUSICIANS TRLKST (OPERATING AS BERKSHIRE MUSIC TRusn {A e(Mry)any limited by guwantee) NOTES TO THE FINNCIAL STATEMENTS FOR THE YEAR DED 31 AUGUST 2025 13. Staff costs 2025 2024 Wages and salaries Naiional Ir6urance cos 2.317,149 237,448 513,929 2.309,887 202,536 574,931 3,068,526 3,087,354 The average number crf emthed by ts ccrfnpany thwirvj yew wa5 a5 2025 No. 2024 No. Full time management and almirlstratc Part time manwent and th#itslralion Full time teachers Part b.me teacr5 21 14 21 22 47 18 101 104 number of emknes emkne bel lexdtyj'ng emther pensicn costs) exceeded t60.( was.. 2025 2024 No. In band £80.(YJ1- £70.LKM) DwiThJ the rernWatic pavj to key MweM perSn. rbchAirJ natffial insurance contribulicfis. trtaI £78.403 12024: £145.1431. Page 31
THE BERKSHIRE YOUNG MUSICIANS TRLKST (OPERATING AS BERKSHIRE MUSIC TRusn {A e(Mry)any limited by guwantee) NOTES TO THE FINNCIAL STATEMENTS FOR THE YEAR DED 31 AUGUST 2025 14. Tangible red assets Fixtures Motor and vehicles fittings Computer and office Musical equipment instruments Land and buildings Total Cost or valuation At 1 September 2024 Addilic 1,754.727 40.917 140, 1.512 265,677 20,556 505,265 208,515 2,706,678 230,583 At 31 August 2025 1.754.727 40,917 141.604 286,233 713.780 2,937.261 Depreciation At 1 September 2024 Charge f(Y the 291.077 34,277 I6, 107.285 8.184 14,044 244,020 14,702 500.976 11.146 1.159,724 82.353 At 31 AU$l 2025 325,354 24.550 121,329 2S8,722 512,122 1,242,077 Net book value At 31 AU$l 2025 1.429,373 16.367 20.275 27,511 201.658 1.695.184 At 31 August 2024 1,463,6 24,551 32,807 21,657 4,289 1,546,954 Page 32
THE BERKSHIRE YOUNG MUSICIANS TRLKST (OPERATING AS BERKSHIRE MUSIC TRusn {A e(Mry)any limited by guwantee) NOTES TO THE FINNCIAL STATEMENTS FOR THE YEAR DED 31 AUGUST 2025 14. Tangible red assets {continued) Included in buikJirvJs is freemd at vauatKm of £346.747 12024: £346,747) is not depreciated. The freeId wcyety was revaId 31 W 2014 by Thameshle Sverj Ltd. Chartered sJrve on a full vacant Fossessicfi basis. The cc*npany has the transItal of thè Charthes SORP IFRS 102) and the valuat of freeId prcperty has not been updated sirtt the last valuatKn in 2014. If the land and tAik4ings not been reVad they vK#Jld have been indthjed al following values.. 2025 2024 1,246,680 1,246,680 1620,3861 (588,017) Accumulated Dewwabc Net book value 626,294 658,663 15. Fixed asset investments Investments in subsidiary companies Cost or valuati At 1 Sepknber 2024 100 At 31 Ajust 2025 100 Net book value At 31 August 2025 100 At 31 August 2024 100 See note 31 fcf fwlher infomiation.
THE BERKSHIRE YOUNG MUSICIANS TRLKST (OPERATING AS BERKSHIRE MUSIC TRusn {A e(Mry)any limited by guwantee) NOTES TO THE FINNCIAL STATEMENTS FOR THE YEAR DED 31 AUGUST 2025 16. Stocks 2025 2024 Finished gx#Js and resae 12.5C 17. Debtors 2025 2024 Due within one year mounts due in relab'on lo tuiticffi fees moJnts owed by grP urbjertakir Other debtors 202,482 11.193 187.870 61,255 170.341 ii,t93 70, 728 30,013 462,780 282,275 18. Current asset investments 2025 2024 Inve5trnent fvnd services limited Cash investments- Flagst( LF Ruffer 1 retwn fimd 189.984 615,394 639,984 615,394
THE BERKSHIRE YOUNG MUSICIANS TRLKST (OPERATING AS BERKSHIRE MUSIC TRusn {A e(Mry)any limited by guwantee) NOTES TO THE FINNCIAL STATEMENTS FOR THE YEAR DED 31 AUGUST 2025 19. Creditors: thounts falling due within one year 2025 2024 TT,193 ,083 4,591 6,419 41,OTO 4,591 100 964,309 Ollw iaxaiion %al secuity I)IatiC5 Lmder hire wychase contracts Attruas and deferred income ,270 1.146,711 1.016,489 2025 2024 Deferred income Deferred irwme at 1 September 2024 Resources deferred during the ye ounts rdeased from yevK)us 9)4,539 761,315 936,080 904,539 I,539> (761,315) Orr incom• at 31 August 2025 936.080 904,539 The Companls c4ilpJatk wder hve wrde ttrftracts ¥e by the assets acquired urthr these agreements. These assets serve as cc4Laleral fcff the cxrtslandiTrJ hire purchase liabilities. 20. Creditors: Amounts falling due aftew More than one year 2025 2024 12,136 12, 136 The Companys obligatKXlS under hwe e4)ntracts e se¢Jxed by Ihe assets acquired urtrjer these agreements. These assets serve as cc4bleral for the ¢yJtstarKlir#J hire purchase liabilrties.
THE BERKSHIRE YOUNG MUSICIANS TRLKST (OPERATING AS BERKSHIRE MUSIC TRusn {A e(Mry)any limited by guwantee) NOTES TO THE FINNCIAL STATEMENTS FOR THE YEAR DED 31 AUGUST 2025 21. Statement of fvnds statement of funds- current y Balance at 1 September 2024 Balance at Gainsl 31 August (Losseg) 2025 Transfers inlout In¢ome Expendire Unrestricted fund5 Dèsignated ld5 Building maintenance IT devdopment fwd Tour funds BMT Burwy 36.482 {9.180} 45.OC#J 72.302 54,000 20,092 10.500 18,181 10.500 {3.089} Yogramme 3,000 122,163 {12,269} 159.894 General funds Generd Fund5 - all funds Pensicfb 2.617.121 3.480.821 13.332.622> 150.LU)I 23.969 2,719,289 1340,0001 {3,) 343,C 2.277.121 3,480.821 13.335.622} 150.¢YJOI 386,969 2,719,289 Total Unrestricted fund5 2,399.284 3.4eii.821 13.347.891} 366.969 2,879,183
THE BERKSHIRE YOUNG MUSICIANS TRLKST (OPERATING AS BERKSHIRE MUSIC TRusn {A e(Mry)any limited by guwantee) NOTES TO THE FINNCIAL STATEMENTS FOR THE YEAR DED 31 AUGUST 2025 21. Statement of funds {continued) 8alan¢e at 1 September 2024 Balance at Gainsl 31 August (Losses) 2025 Transfers inlout Income ExpdItre Restricted lunds Riryfenced S50T a chikl UA disthant*Je d funds eenham Trust Counal England- Caprtal Instruments Grant Tcèy Fund Art) Gne41 England- TPS 11,866 5.926 {11.866} {1.570} 4.356 16,331 {2.698} 18.633 27.672 122.1721 5,9)0 261,576 1.153 {20.128} {1.244} 241.448 9.346 9.437 110,759 (110,759} s CLwncil England- ACE FuThJir4 Bwr Scmarship 1.046.721 11.046.721} 1.218 1,218 8erkyPhilip Trust Bursary 1,CKIO 45.778 1.452.881 11.217,1S8} 281,501 Total of funds 2,445,062 4,913,702 14.565.049} 366,969 3,160,684 Page 37
THE BERKSHIRE YOUNG MUSICIANS TRLKST (OPERATING AS BERKSHIRE MUSIC TRusn {A e(Mry)any limited by guwantee) NOTES TO THE FINNCIAL STATEMENTS FOR THE YEAR DED 31 AUGUST 2025 21. Statement of fvnds {continued) Restricted funds SpOnra Child The fund used to $LPWt thiklren v4lh dIffie$ highly tslented d)ildren cannot afftyd lo have indMJual tuitscn which is necessary for their tslent levels. Incc#ne from this acccJnl relates to th)nalicfis recaved. ExFerKlriure V1h1n the year relates to the fijnding towards deemed disadvantaged chiklren. TrSferS iTrto this fvnd we mth from gewal reserves. subject to availabilty of Iwds musl be 4wroved by ustees. UA disathiantaged fund Me¢y is wovided by the UAS f chiklren wlKs are disadvantaged and unatAe lo have music lessons. In order to obtain this specrfK fi1ng they mu51 SLKces$fvlty fill in a daim f¢ym in ¢xder lo prove their needs. The council is Th)knfied vthen the 1Ce is expensed. Each Ial Jjthorty has a seperale fund cfi thes Spreads1 arKI incclne experre 15 411¢ed against eath C1. Arts Ct)uncil England IACEI Funding eerkshire Music Trust is n rtteipt of ftmdiry to 31 Awl 2025 dk¢ated by Central Govemment wa s Council England to suFpyt the Befkshire Music trknb delNer the Nationd Music Pl. Bethshire Music TnJst is leader of the Berkshire MUS Fljb. Greenham Tnt Matched ldI frcn Greenham Crynrn Tntsl. The Greenhn cmoTh trust have traditicallY fvnded 'mthle irthme. wpils are not eligible Fwil premium. This is not means testing therefore the chanty rdies on trust then allxab'rKJ tr4$ grant. Each puyl is given £80 per temi towards music itK)n and 8MT offer £10 per temi under the 8M Bursary. Greenham also eed to further support prc¥ects such as a Rc¢k B Project srurrfj carers. In 2025 we have hcwever aeed furKling of up to £50k up to April 2026 to be spt on trAwsaries and also olher &Yqects - g) f¥ this year we have reIved £23,238 of this £&. Donated instruments Represents inslNments the c¥mwy by frrth other ttwsaticyts. Cnl Engl (TPSI furyl Berkshire MUS Trust is in receipt of fwKlirKJ lo 31 Awt 2025 alk)cated ty Central Gobtrrnent s cnCil England to swrt the costs in relation to pensw Scheme.. Foyle Foundation We apFAied a grant to cover the cost fA digilat equiFrfnenl requirgj lo suppNt online lessons; wetcams. laptops, MKTCFkn etc. We also were able to purchase iPads lo enable music txoiects in altemative provi8KmS thkS to this art Rock Band Project As part of ow new Strate1. v stated a rock barwj project with carers in West 8erk5hire. This has not cty gNen these Fryle a new fun ath.vty to ty trrt also brought them tc¥Jelher in a safe space to escape frcffl their ng res>11es for a short length of time. The prr4ect were awarded by finCial SUPFKYI frn The Miss LwerK* TntsL Englefield Charitable Trust and Greenhan TnJsL
THE BERKSHIRE YOUNG MUSICIANS TRLKST (OPERATING AS BERKSHIRE MUSIC TRusn {A e(Mry)any limited by guwantee) NOTES TO THE FINNCIAL STATEMENTS FOR THE YEAR DED 31 AUGUST 2025 21. Statement of fvnds {continued) The Toby Fund We contin1 to fundrase the Toby FuTrJ fcf the repair arKI maintenance of bassoorts which was setLP in memory of bass1St Tcty Dame5 died in 2013. The [d can also be used the development of hVLmg bas9xl$ts learning tl¥ough us at the Tnjst's discretiw. BMT Scholarship BMT Scholarship prowdes (w¥limth f stLhYents face bJYiws to pr¢)yession in trÈir chosen musKal field. Schdar5hips will be awarded up to £1 per skndenl to be used towards the cost of music lessons. enserne xb.wty or reshdentsal tn.ps and t1$. This $clarshiP is spe¢fficty famlies that are not digible f(Y any other finarKia sw)p)rt from BerksP4re Music Twsl IBMTI. East 8erkslPrin¢e Philip Trust 8ursary East 8ert(slPrin¢e Philip Tnjst Bursary is a fuThJing speuficafiy to SLPF<Jrt students in Windsor sit just above the FSM ¢rrten"a arKI for music lesxn$ Wld be (Art of reach fina1ly. Designated funds BMT Bursary Fund Aft•r rdxanding ¢Jur Irado namo to Bwk$hirg Trusl (BMTI. set asle som• general dcnations for supporting less thanwed chiklren to conUe MUS actiVe$. Endangered PrOgrae Fund We sel aside a deSnated fr%Jn eral fundrai%r#J efftxls to $LWl less athantaged chiljren to conb.nue endarrfJered instrument nIrj acti¥Aties.
THE BERKSHIRE YOUNG MUSICIANS TRLKST (OPERATING AS BERKSHIRE MUSIC TRusn {A e(Mry)any limited by guwantee) NOTES TO THE FINNCIAL STATEMENTS FOR THE YEAR DED 31 AUGUST 2025 21. Statement of funds {continued) Statement of fvnds- prior year Balance at I September 2023 Balanc8 at 31 August 2024 Transfers Gwn (Losses) Unrestricted ld9 Designated funds 8uikling maintenance IT devdopment fwd T1 fund> BMT Burwy (23.) 36.482 74,( 21,131 io,x (20.CW) (2,950) 18, 787 10, ogramme 168.613 (46.4? 122,163 General funds General Fund5 all funds 2,544,822 3.318.619 {3,263,732) (1,023) 18,435 2,617, 121 (340.CW) (69,CQO) (340,GQO) 2,204,822 3.318,619 (3, 194, 732) (1.023) (,565} 2,277, 121 Total UnrestTiCted 2,373,435 3.318,619 (3,241, 182) (1.023) (,565) 2,399,284
THE BERKSHIRE YOUNG MUSICIANS TRLKST (OPERATING AS BERKSHIRE MUSIC TRusn {A e(Mry)any limited by guwantee) NOTES TO THE FINNCIAL STATEMENTS FOR THE YEAR DED 31 AUGUST 2025 21. Statement of funds {continued) Balance at I September 2023 Balance at 31 August 2024 Transfers Gain in/t (Losses) Restricted fundy ACE fiffiling Swsor a chikl UA 1.031, f 51 (1.031.151) (1,490) 6.416 5,926 disadvanty. d funds (>eenham Trust 16,548 (217) 16.331 2,670 (2,670) instrwnenls Rcck band oiect Covi¢>19 hardship Re5tncted . UA Disadvantage dFund- 8racknell F(¥est The Toby Fund s CcAJncil England- ACE FuThJi BMT Scmarship (7.539) 5,289 (5,289) 577 (577) 192,Kt8 3,8T3 (192,&)8) (1.740) 7,304 9,437 2031 9,535 1723) 1,023 11,866 (32) 1.218 BerkslPhilip Twst 40,415 1,248.576 (1.244,236) 1.023 45.778 Page 41
THE BERKSHIRE YOUNG MUSICIANS TRLKST (OPERATING AS BERKSHIRE MUSIC TRusn {A e(Mry)any limited by guwantee) NOTES TO THE FINNCIAL STATEMENTS FOR THE YEAR DED 31 AUGUST 2025 21. Statement of funds {continued) Total of lunds 2,413.8 4,567, 195 (4,485,418) f50,565) 2,445,062 Page 42
THE BERKSHIRE YOUNG MUSICIANS TRLKST (OPERATING AS BERKSHIRE MUSIC TRusn {A e(Mry)any limited by guwantee) NOTES TO THE FINNCIAL STATEMENTS FOR THE YEAR DED 31 AUGUST 2025 Summary of funds Summary of funds- current year Balance at 1 September 2024 Balance at Gainsl 31 August (Losseg) 2025 Transfers inlout In¢ome Expendire Designated funds Genera furKIs Resthcted funds 122.163 2,277.121 {12.2691 3.4&).821 13.335,622} 159,894 2,719,289 I50,(Ml 386,*9 45.778 1,452.881 11.217.158} 281.501 2,445,062 4,913,702 14,565.049} 366,969 3,160,684 Sumrnary of funds- prior ye Balance at I Sgptember 2023 8818nc8 at 31 August 2024 Transfers in/out Gwnsl (Losses) Designated fijnds Ggnerd furK Restricted funds 168,613 2,204,822 (46.4} 3.318,619 {3. 194.732) 122.163 (50.565) 2,277,121 (1,023) 40,415 1.248.576 (1.244.236) 1,023 45.778 2,473,8? 4,567, 195 (4,485,418) f50,565) 2,445,062 23. Analysis of net assets between fvnds Analysis of net assets between fund5. cunent y Restrrcted Unrestricted funds funds 2025 2025 Total funds 2025 Tangle fixed assets Fixgj assd investments 1.695.184 1CQ 1.438,980 {1.438.9801 2.624.247 2.624.247 10.768 11.146,7111 112.1361 112.1361 1.695.184 1C Cwrent assets Credit5 the wthin crfle year Creditors the in mCe than le {1.157,4791 Total 281,501 2,879,183 3,160,684
THE BERKSHIRE YOUNG MUSICIANS TRLKST (OPERATING AS BERKSHIRE MUSIC TRusn {A e(Mry)any limited by guwantee) NOTES TO THE FINNCIAL STATEMENTS FOR THE YEAR DED 31 AUGUST 2025 23. Analysis of net awts between funds (tontinuedl Analysis of net ats between fvnds. prior y Restncted Unresfncted fvnds 2024 Total funds 2024 2024 Tangle fixed assets Fixed asset investments CL1rt assets Creditors Ikn thIn one yEar Creditors the in more than y ProwsIcS Ikakn'lities aThJ charges 1.546,954 1.546,954 lthj 2.220.855 2.266.633 (1,016,489) (1,016,489) (12, 136) f12, 136) (340,CW) (340,oc(I) 45.778 Total 45,778 2,399,284 2,445,062 24. Reconciliation of net movemenl in funds to net cash flow from operating activities 2025 2024 Net incune fcf tr las per Statement d FinwKia ActsvIt) 372,622 100,212 Adjustments for: Depreciation charges RealisedluNealised gains cffi ¥Neslments Interest from investments Decreasellinceasel in stocs Decreasellincreasel in debtors Increase credrtors FRS 102 perts1( adIent 82,353 123,9691 121,1791 112,9JOI 1180,5051 134,192 68,278 (18,435) (19,048) 109,880 31, 190 (69,CQO) Net cash provi(led by ¢)perating aclivitses 354,014 203,077 25. Anaty5is of cash and cash equivalents 2025 2024 Cash in harKI 1.508,983 1,368,964 Tcal cash and cash equivalents 1.508,983 1,368,964
THE BERKSHIRE YOUNG MUSICIANS TRLKST (OPERATING AS BERKSHIRE MUSIC TRusn {A e(Mry)any limited by guwantee) NOTES TO THE FINNCIAL STATEMENTS FOR THE YEAR DED 31 AUGUST 2025 26. Analysis of dnge$ in net <kbt A11 September At31 2024 Cash flows August 2025 Cash at bank haTrl FinwKe lea5 Kl investsnents 1,368.964 116.7271 615.394 140,019 1,508,983 116.7271 639.984 24.590 1.967.631 184.609 2,132.240 27. Capital commitments 2025 2024 Contracted for bui not provided in these financial statements SOfe imklementation 18, 776 Cm 5th June 2024, the cCmpY entered into an agreement to engtye wth a sefwce for sofvare ImementatiC<th for a c¢$•eratiOn of £28.318 (VAT *u$e). As of the year ended 31 Awust 2025. the amount has rv)w been paid in full.
THE BERKSHIRE YOUNG MUSICIANS TRLKST (OPERATING AS BERKSHIRE MUSIC TRusn {A e(Mry)any limited by guwantee) NOTES TO THE FINNCIAL STATEMENTS FOR THE YEAR DED 31 AUGUST 2025 28. Pension commilments In May 2025, employees moved to a defi cOntritrti scheme wth Royal Londcn, prior lo May 2025 the cclnpanls emoYeeS belryd to tr/0 wincapal pension schemes.. the Teachers. Pension Scheme England and Wale5 ITPSI acadern related staffr, and the Loca Govemment PensKJn Scheme ILGPSI fu nc-teachlry staff, thIch is manw by TIE Royal Cwnty of Bth$h1 Pensi Scheme. Both are m-emploYer defined benefft sthemes. The latest acbJial valuation of the TPS related to the ended 31 Marth 2020 and of the LGPS 31 ¥¢h 2022. Teaehers. Pension Scheme Tea¢tr. PeTrSM Setme (Trs) is a slatutw. ojntrtiukny. berth scheme. govemed by the Teachers. Pens)n Scheme Regulati¢S 2014. MembshiP is aJiomab"c for frjlktime teachers in academw. AJI teac have the opkn to op¥wt of ts TPS fdlwng enrolment. The TPS is an unfunded scheme to vhmch trnth the member employer makes contributions. as a PeTntsge of salary - t1 cmtn"l)ub"¢)ns are credited to the Exchequer. Retirement and other pens beneffts ¥e Pa by wblK fwKls by Parfk¥nent. The Trust have been informed that Y are rn er e1ible lo offer the Teaclw's Pens)n Scheme to their leaching staff and sIre Ihe end ha¥ mved the relevant staff to a drflerenl provh*r so M staff remain in the TPS scheme. The Tnjst we admrtted lo the TPS as a grant-maintained body and as their nding from goVerrOnI rv) bnger fily t1 txists of emthing teadws, Ilwy we no k4)ger able to be a participating employer in the Teachers Pengcn Scheme.
THE BERKSHIRE YOUNG MUSICIANS TRLKST (OPERATING AS BERKSHIRE MUSIC TRusn {A e(Mry)any limited by guwantee) NOTES TO THE FINNCIAL STATEMENTS FOR THE YEAR DED 31 AUGUST 2025 28. Pension commitments (continued) Valuation of the Teachers. Pension Scheme The Govemment Actuary. usry rrnal ccThJucts a fomial actuarial review of the TPS in accordarKe wth the publ SerVe Pensk)ns IValuth"ons and EmWer Cost Capl Directions 2014 published by HM Trry every 4 yws. The aim of the review is to ensure scheme costs are recognised and manapj ar4wcpriatdy arKI trÈ retsiew sreufs the level of future ¢trIbutiOns. Actuaria scheme valuabons are deFeTrlent cn asswnptis at(MJt the value of fuiure costs, deTr of beneffts and many other fact. The lalest afAuarial valUatiC of Ihe TPS was carrd out as at 31 M 2020. The ValUatic rewt was wbli5hed by trhe Department for EdUCalK on 27 Octobef 2023. vthh the SCAPE rate. sel by HMT, aFplwng a notonal ¥weslment relum based cn 1.7% above the rate of CPI. The key dements of the Valuat wtccme are". Employer ccrfrtribulion rates sel at 28.68% d penSie pay lilKIaIry a 0.08% admviistration levyl This is an inttease of 5% in emrloyer cortritrthons and cost result is sh th no change in member beneffts is rethd. total scheme liabilth'es (pens cuffenty in payTnent WKI the estwnated cost of ftrtLKe benefftsl for seNce lo the effecttve dale of £262.OCiI mi11k * nolional assets lesb"maled frjture conlribub'ons together the rntional invesknents at vluath del of £222.200 million, giwr n01K31 past seNce deficit of £39,800 mil•)n. The resLfft of this Valuati will be imp1wntted from 1 AK4iI 2024.The next Valuat res ts to be ImeMented from I W 2028. The emF40serfs penshjn costs p to TPS the y¥ar Ounted lo £37[2024.. £353kl A ¢XPy of the valuaticfj rewt suppjting docwnentatiM is cffi the Teachers, Pensths bsite. Urtrjer the definiticfis set CArt in FRS 102, the Trs is an unfvnded muth-empw pensicffl scheme. The company has aceounted fe( rts ttntn"buticns to the scheme as rf it were a defined ccffitributic scheme. Local Govemrnent Pension Scheme LGPS is a furthj defrnd benefft Peth sdme. wilh the assets held in separate trustee administered furJ5. The Icrtal c<Jntn"bution made for year ended 31 August 2025 was £174k12024'. £ 260kl, of thich wnployerf$ ¢In1¢S totslkd £133k 12024.. £211kl aTrJ employees. cA)nlributions tOtald £41k 12024: £49kl. The agreed ccrknbutNJn rates for future e 16.5 per cent for the company aTrJ 5.&12.5 per cent for emrAo)Ee5. Where the ability of the Chwity to recover its share of any an asset will Mly k ccfflfirmed by Me or more futtxe events this is regarded as a Contingent asset". in these cwjmstances no asset 15 recc¥Jnised and the LGPS is induded in the Balance sheet at £zero. any CreSPorKIln9 reduCb.c in the calcyjlated value of the asset passing tgh 'Actuarial gainslllossesl on defined benefft pensic $dne$, wthin the Statement crf Finan(ia A£lNibes. The c(¥btsrvJenl a$5et that is not recc•Jnised totals £452k. Page 47
THE BERKSHIRE YOUNG MUSICIANS TRLKST (OPERATING AS BERKSHIRE MUSIC TRusn {A e(Mry)any limited by guwantee) NOTES TO THE FINNCIAL STATEMENTS FOR THE YEAR DED 31 AUGUST 2025 28. Pension commitments Iconlinued) At 31 At 31 Augusl ust 2025 2024 Disccunt rate Future salary iweases Fubjre pefis weases Inflation CPI 5.05 At 31 At 31 Aust August 2025 2024 Years Years Mcllalty rates lin prsl - for a male aged 65 Tr)w . at 65 fcy a me aged 45 nLW - for a female 4ed 65 now . at 65 for a female aged 45 nc 21.8 24.1 23.4 25.8 20.7 23.6 22.0 25.0 The ¢¢mpanl$ $h¥e Of1 assets sch* 5.. At 31 At31 AusI August 2025 2024 Eque$ 2,448,or)J 2,297,L 473,t)Xl 295.LNJO 271.Ci)O 102,CQO 73,CQO 409,C#XI 395,CQO 1150.OLKII (165,C(Q) Cash arKI other Imiiud •ts Infrastructure Longevity insurarKe Total fair value of assets 3,603,OOJ 3,344,LIx• The aclual rdum on scheme assets was £2UO(KI (2024. £209.). The arnnts recowised in the Statemerrt cl Financ ActMIS we as fh)Vts..
THE BERKSHIRE YOUNG MUSICIANS TRLKST (OPERATING AS BERKSHIRE MUSIC TRusn {A e(Mry)any limited by guwantee) NOTES TO THE FINNCIAL STATEMENTS FOR THE YEAR DED 31 AUGUST 2025 28. Pension commitments Iconlinued) Movements in Ihe yesenl vue crf defined benefft c4)IbJaiKffl were as folkws.. 2025 2024 0ing defined neffit CLrrent semce cost Interest cost Charrfje in finla1 assumptior Change in demc•Jraphic assumptions Experience lossl{gainl on defined benefft ot41ts Benefrts paid Past service costs 3,684,CDJ 3,369,Cth? 119,CQO 75,CQO 184,C#JO 177,CQO 1870,OC#Jl 141,C(Q (8,LXX•) 31,0 (18.CQO) 1134,OWI (151,CQO) 41,OOJ 49,CQO Closing defined benefit obligati¢)n 3,151.OQJ 3.684.LThX• Movements in tr lar value of the e4Jmpanls shwe of assets were as folkm: 2025 2024 Cwing far vlue of sctrthie assets Interest inttthe Retum on assets less interest Administrative expenses CltributI¢$ by employer Employee ccntritrAticf Benefrts pahl A8set ceih'ng Jjustment 3.344,OLKI 3,029,CQO 170,C#XJ 163,LX 52,OCKJ 46,tX 13,OOJI (3,LXKI) 133,(NJO 211,Ln? 41,OQJ 49,LTh 1134,OOJI (151,LTr)O) 1452,OQJl Closing fair value of scheme assets 3.151,OC#J 3,344,tX 29. Operating lease eommitments At 31 AwJust 2025 ts cOmY W nmI[rffts tt) make fuiwe minimum lease Panents under cancella)le twatiTrJ leases as fc4bM: 2025 2024 Not later Ihan 1 year Laler than 1 year arkd rn)t later lh 5 years 99.536 1ChS.378 71,106 104,060 205,914 175, 166
THE BERKSHIRE YOUNG MUSICIANS TRLKST (OPERATING AS BERKSHIRE MUSIC TRusn {A e(Mry)any limited by guwantee) NOTES TO THE FINNCIAL STATEMENTS FOR THE YEAR DED 31 AUGUST 2025 30. Indemnity inswance Funds of the ccynwy amounting lo £1.26012024: £1.3491 have Ixen used in the purchase of insurance to wotect the ccmpany fr(4n bss arising of wlecl LY defauNs of its directors or officers and to indemnfy its dIrectS offic5 aJansl the c(xWueeS of neglect or defau cffl their part. 31. Related party transadiens Dwiw the year, 12 Tntslees {2024'. 5 Trustees) paid £9,636 {2024". £9.6361 to ts company music lessons. ensemble and other related actiwiies. These are all invoiced at ncrfmal fee tariff rates and m an .5 leryth baw5. 32. Guarantees The liabilty of the o)mpany is limited by guamtee. In the event of the ecrtnpY being wound up, each member {u memt*ts VA have eeased to rrtmters less than e yearl, undertakes to contribLrte to assets of the ¢c¥nY such as may be required, Tr)t exceediw £1.
THE BERKSHIRE YOUNG MUSICIANS TRLKST (OPERATING AS BERKSHIRE MUSIC TRusn {A e(Mry)any limited by guwantee) NOTES TO THE FINNCIAL STATEMENTS FOR THE YEAR DED 31 AUGUST 2025 33. Principal subsitharies Name Company Registered office or nunknr pnncipal place of business Principal xtivity Class of shares Maestros Enterwtses MIted 11609495 st{xhn Ccth C(they Sales d soffvmre Ordinary Hill. TilehursL ReadiTrJ. unrtl RG30 4EX Holding Included in consolidation 100% No financial resuhs of the sthidlfor the were.. Name Net Maestros Enlwses Limited 19431 Page 51