West Norfolk Music Centre
Chair’s Report for year ending August 31st 2021
Along with other similar charities and clubs, the period September 2020 to August 2021 has been dominated by the pandemic. West Norfolk Music Centre (MC) has worked hard to stay open when restrictions allowed, by using temporary premises. Although the number of members attending was well down on pre- pandemic levels, the club remained viable with a number of members enjoying music tuition on their chosen instruments as well as playing in bands and orchestras.
Although MC’s operating costs far exceeded operating income as a result of falling attendance numbers caused by the pandemic, MC remained healthily viable from a financial standpoint as a result of having adequate cash reserves which could be drawn on as required.
MC remains grateful for the support it receives from The Norfolk MUsic Hub. Without this the operational costs would rise significantly.
A number of music exams were taken by members and overall the results were pleasingly positive given the pandemic affect.
Most music teachers and staff employed by MC have remained in place during the pandemic and no serious problems in covering MC’s declared provision to the community were experienced.
The profile of membership has moved away from school age members to a more adult age group profile over the past 20 years or so and a priority for the year ending August 31st 2022 will be to take significant action to address this problem. MC remains proud of the fact that it has a membership profile covering all age groups but when that profile starts to becomes adult dominated, the long term future of The Centre is more likely to be threatened.
Nevertheless, a healthy and successful 2021/ 22 is anticipated in all respects.
D. E. Stringer Chair of Trustees
June 10th 2022
Cbarity No - 291104 WLST NORFOLK MUSIC cElRE TRUSTEES REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGU 2021 mAPu&SlTH & LEMMON LLP CHARTERED ACCOUNTANTS KING'S LYNN
WEST NORFOLK MUSIC CEiYfRE Charity No- 291104 REPORT AND FINANCIAL ATEmENrS FOR THE YEAR ENDED 31 AUGusf 2021 Contents P#ge Le8al and thiThistr4tiv¢ infornution Accountants report Statem¢nt of financi activiiies B4lan¢¢ sheet Not¢5 to the accounts &7
WEST NORFOLK MUSIC CENTrE Ch#rity No- 291104 LEGAL AND ADMINisfRATIVE INFORMATION R¢gistered Offic¢ of Charity 3 The Howards Ni)rth Wootton Norfolk PE30 3RS Reglstertd Charlty NuJryb¢r 291104 Charlty Prinelpal Office 3 The Howards North Wootion Kings L Norfolk PE30 3RS Indep¢ndtnt Ex•JDiner Mw.Smith & LmOn LLP 48 King Stre¢t King's Lyt Norfolk PE30 IHE Trus¢ees Mr Derek Stringer Mr Toby Win¢eringham Mrs saratk.jane Napper Mr Paul Denni5 Mrs Beatrice Bray Mr Conrad M¢¢han Mts Sarah-Jan¢ Dix Ms Kirn Keths Mr William Vys¢
WEST P40RFOLK MUSIC CENTRE TRUSTEES REPORT FOR THE YEAR T031 AUGUST 2021 Chirity No- 291104 The tntee$ present their report along with the fuwKial stste[llet of the chlty for the yearended 31 Augyst 2021. Statement of trtte,9 resp&nslbliltles Charity law rcquires the trStee$ to prepare accourtts Bive a tru¢ and fair view of the State of Affairs of the charity and of its income al expendiDJre for the finknciol y¢ar. In g). the tTPJ5tees 4r¢ r¢quired to: select suitable aceowiting polici and then apply them eonsistently, make judgements and estimate5 that are reasonable and pNdettt.' $tste whether applicable accounting standards and Statements of reconunended financial s¢at¢ments; and prepare ihe financial statements on the going ¢oncern basis unless it IS itwjpropriate to presume that the ¢harity will ¢onlinu¢ in operation. The trwtees ar¢ respottsible for maintaining proper accounrin8 records which dis¢lose with reasottable ¢uracy at any tim¢ the financial position of the charity and whi¢h enable them to ensure that the accounts comply with the CIHrities Act 2011. Th¢y are also responsible for safe8uardirt8 the assets of the charity and h¢ry¢¢ for 18king rea50nabl¢ steps for the prevetttion #nd det¢dion of fraud and other irTegulariti¢y. Le¥#1 stitus & 01$#t10 The charity was found¢d on 6th March 1985. The Governin8 Instrum¢nts wider wluch the ¢haTity operate5 1$ the deed dated 24th September 1980 as Amended by Supplemen deed 26th Jartuary 1985 and scheme dated 4th October 1988. as Amended on 10th June 1997 as amended on 17th June 2019 and 3 1st July 2019. Th¢ ¥rwiisation is a r¢8ist¢red ¢haritv (Chariry Number 2911041. Other administr]Ve detwls are as Sho ort p4¢ 1. Structure• governgnce #Ad miJgtthettt The trustees are reSpOlbIt for th¢ govanCe of the cknriry enstsr¢ that it pursyes th¢ obj¢¢ts (or whith it wjs founded. New trustees. bein8 9]Ir1ed by experi¢n¢¢, 4re appointed by recommendation of the ¢umt trusi¢u, or by propo1 of a ¢urren¢ truste¢ entitled to vok ai a meeting of th¢ charity. ObJ¢ctlvu ind ictlvltks of ihe chirlty for the pubjlt b¢utfj¢ The Trustees have had re8ard w the Charity Commission's 8uidarKe ort publi¢ b¢nefLt and h4v¢ sought to ensure that all activities undertaken have been An lin¢ with the charity's obje¢tiveJ. The mwn objective5 of the charity are.. To advance the educAtion of th¢ publi¢ in the arts and sciences in partieulorth¢ 4rt Ind s¢i¢tt¢e of music by the provision of ltin. Achlevements and Perfonnante The charity has continued to irnplemerf its wjlicy of ¢on¢inued tuitiOD of music b) ail 98e 8fOUPJ. FID•ntll Revlew, Invu¢ment Polley Ind Reserv The atta¢h¢d documents demonstrate in finala1 ternts the activitie5 of the charity for the pastyear. As can be svn the ¢harity a d¢fi¢it on unwremctrd funds in the ¢urr¢nt yearof £6J49 compared b) £34,232 surplus in the pnoryw. AuMUlated unrestricted fut carried forward ar¢ £426,453 (2020- £432,802), this level of fiumls is seert as satisfa¢tory in order for the charity to cotttinue meeting its objertiyu. OTr behalf of the Trustoes 162 Tpr troihJ7J Q i A]
WEST NORFOLK MUSIC CENTrE Charity No- 291104 INDEPENDENT EXAMINER'S REPORTTO THE TRUSTEES OF WLST NORFOLK MUSIC CENTRE I report on the accounts of the Trusi for the period ended 31 Au8USt 2021, whtch are sd out ort page5 5109. Respeetlve rtJponsibilitiu of trtte9 and indeptndent eMmiDtr The Iste¢S ore reSPolb1¢ for the preparatton of the a¢¢ounts. The eharity¥ tnteeS cortsider that an audit 1$ not required for this year under section 144(2) of the Tharities Ad 2011 (the 2011 A¢¢), and that an indepe[ent examin£tion is neth Having satisfied myself that th¢ Charity is ]t subject to audit under MpaThY law and is ¢ligible for Independent examination, it is my responsibility to.. - ex11¢ the a¢counts under seaion 145 the 2011 Aet. - kn follow the procedures laid down in the General Dir¢ctiOn5 given by the Ch¥ity Conmiis5ion under sethiork 145 {5Xb) of the 2011 ACL and - to State whether parti¢ular matters hav¢ come to my attention BASIS of Independent examIneI report My examination was carried out in a¢cordance with the Genenl Dirertions given by the Ch¥rity Commission. A ¢xarnination includes a Teview of the accountin8 rerdS k¢N by the eharity a comparison of th¢ a¢counts presented wth those records. It aljo includes eonsidernion of unusual items or diK105ures in the accounts. and the seeking of explanations fmm you a5 Inte¢S con¢¢rnin8 any such matters. The procedures undertaken do not pn)vid¢ Jll the evidertce that would be rtquired in an audit and, consequently, no opinion is 8iven to wh¢ther the accounts pre$¢nt a Inje and fair view and the report is limited to those matters set out in th¢ statement below. Independent ¢¥iJDlnerJ statemént In connection with my examination. nts matter eoTne to my attefttion.. 111 which gives me T¢nable cat to believe tha¢ in any material resp¢¢i the trte¢S ve ttot met the requirements to ensure th4¢'. al proper CoUnting records are k¢p¢ (in aceordart¢¢ with section 130 of the 2011 Act): and bl accounts ¥re prepared which agree with the accouniin8 rKords and comply with the counting requirements of th¢ 2011 Act.. or {21 to whi¢h, ITh my opinion, attenlion should be drmvn in order to enable a pmp¢r under5tandin8 of the attounts to be ttached. Date...L&..l.w..l.èK2£.... Mgpus4mltb & tAmmon LLP Chartered A¢countants 48 King Street Kings Lyt Norfolk PE30 IHE
WEST NORFOLK MUSIC CENTRE Charity No- 291104 STATEMENT OF FINANCIAL ArfiviTIES (INCLUDING INCOME AND EXPENDrruRE ACCOUNT) FOR THE YEAR ENDED 31 AUGUST 2021 No¢¢$ Restritted 2•21 Tot•1 10211 Tot•1 INCOMING RESOURCES Fees from students Surplus from open cvenin8s Surplus from fr¢shrnent ¢1 Donations Hire of instruTn¢nt$ ID¢fi¢irYSurplu$ on sa]¢5 of reeds Surplus froTn s¢ud¢nl'$ exams Mi¢hael Janson L¢g Other iD¢om¢ Tololth¢omln¥ 8,615 8.615 29.371 387 1,098 78 290 618 618 217 39.154 326 70,818 18,585 27.819 27.819 Sundry income Inieresi received 468 23 28.309 468 23 28.309 58 70,875 Erpenses Adjusrmeni to stock Tutorial and staff payments Rertt Inswance Repairs and renewals Postage, telephone and sl0¢ry Accountancy Sundry expenses 17.475 1.960 217 48 41 210 17.475 1.960 217 48 41 210 30.906 2.070 132 110 156 Oiher Costs D¢preciAtion 31 31 31 31 42 42 Total r0r¢ expended Net {dell¢itysurplui for th¢ year
WEST NORFOLK fvTUSIC cEllE Chairity No- 303959 BAIANCE SHEET AS AT 31 AUGusf 2021 Notu 2021 2020 Fixed Asjets 125 Current AJts Stocks Debtors Bk current awounts Investmet Holding Aeeount Cash in hand 826 713 24,798 445,704 10.371 30 481.730 71.437 361.134 30 433.314 Currettt Ll•bllltles Suttdry credilcrs and accruals 426 636 Net Current Ajsets 481,303 432.677 Tot•1 Ajjtts leu Current Ll•bllltles 481J97 432,802 FUNDS Ae¢umul#tloo of unmtrlrted fun 436,827 432.802 Revalu•tlon Ru¢rve 44,570 Tot*1 Charlty Fumth 481J97 432,802 The COUnts were Approved by the trusttts on.... .... ..... ................. and •re signed on their behalf by.. aA (CFL4tRMANI -, Ai É¥t
WEST NORFOLK MUSIC CENTRE Cbirity No- 291104 NOTLS TO THE FINANCIAL STATEMEM5 FOR THE YEAR TO 31 AUGUST 2021 l. Accounting policies The significant a¢counti118 w>li¢ies LLs¢d in the preparation of these stalements are'.- 1.1 Ba5iJ of i¢coun¢ing The financial statements preped in accordance with applithle accountin8 stsndards on the basi5 that the harity can coniirttse to operate &5 a going concern. The trustees believe this basis to be appropriate as the musi¢ eentre Iw 5uffi¢ient available to fJllanc¢ its operations for the hrese¢abl¢ fith¢. The music centre has prepared its rywla1 ststemettts in Aceordance with the requirements of the Charities A¢t 2011 and the statement of recommend¢d pr4cli¢e A¢countin8 attd Rep)rtin8 by Charities ISORP 20051 and applicable UK Accounting Standard. 1.2 Incoming resourees All irtcomin8 r¢sources are included in th¢ SOFA when the chariry is legally ¢ntiti¢d to th¢ irKom¢ And the amouttt can be quarttified with I¢0able accuracy. The following $ifiC policies are applied to partieular categories of income.. Incoming Resources compris¢s Principally of tpjition iticome event income. Dtrnitlotti gr•nts Income from donations and are io¢lud¢d in incomin8 resources th¢ll th¢s¢ are receivable. Interut rttdvble Interest is included wh¢n r¢¢eivable by the chariry. 1.3 Rtsourttj ¢xp¢nd¢d Expendi¢ur¢ is r¢¢ognised ett a liability is incurred. ContracwAI arrangements and perfornwice related grant5 are re¢ognised as 8ood5 or s¢rvi¢es are supplied. Other gran¢ payments are re¢o8ni5ed when 4 ¢onstru¢¢ive obli8aiion arises lh results the paymerf b¢in8 unavoidable. Costs of generatin8 fiJnd$ are costs incurred in tradirt8 a¢tivi¢ies that rnise fiu)ds. Govemartce Costs include those incurred in th¢ governance of the Charity and its assets and are primarily asso¢iat¢d with the constiftrtional •TKI statutory requirements. 1.4 Futtth S*TUCture Gen¢r31 funds ar¢ unrestricied futtds whi¢h are available for use at th¢ dI5¢110n of the intstees in fvrtherance of th¢ &enerai obj¢¢tives of the chwity and which have not b¢¢n designated forother purp)ses. D¢si8nated funds Comprise wwejtricted funds that have been s¢t ld¢ by the trjsiees for particular purposes. Th¢ aim and us¢ of ¢h d¢signated fund hs set out in the notes to the statements. Restrirfed thrtdg are funds which are to be used irt I0[dance with specifie restric¢ions imposed by donors or thich have been rnis¢d by the charity for particular purposes. The cost of raising administeriTh8 such fimd$ ¥¢ 08ainsi ihe $pecifLC fund. The aim and use of each restricted futtd is set out in the t¢S of the financial stai¢ments.
WEST NORFOLK MUSIC CENTRE Charity No- 291104 NOTES TO THE FtNANCLiL STATEfvtENTS FOR THE TO JI AUGUST2021 2. Ntt Eip¢nditutt fot the yur This 1$ Sthled alierthing.. 2121 1020 Ant¢Y aod iY¢&keepiD8 210 156 3. FlJ¢d Ajxts Totsl Cost At I Septanber 2020 Additions irt the year At 31 AU51 2021 12J73 11573 12.573 12.573 Dtpre¢i•¢io At I Septtmber 2020 Ch8r8e ftt th¢year At 31 Auwsi 2021 12.448 12,406 42 12.44R 12,479 Net Book Vmlut At 31 Augu312021 125 Al I Septemb¢r 2020 167 4. Cr¢dltorJ 2021 2021 Tnde credito 276 150 150 J. Mov¢mtllt kn fuo Inll SCember Resollr¢u (Woul8 2020 lirt¢. Tr¥ferI At31 2021 RÈrkf¢o f•uth: restri¢¢ed fu [IAr¢strkttd fund 431802 124.285) 436.827 fiJL¥Js 431802 28.309 24285 436.817
WEST NORFOLK MUSIC CENTRE CharityNo- 291104 r40TES TO THE FINANCIAL STATEMENTS FOR THE YEAR TO 31 AUGusf 2021 6. ReYAIuAtion ReJtrve 2021 B¥lon¢e brought fon¥ard In¢r¢os¢ in investment assets 44.570 Batsnce earrled torwird 44370
Cbarity No - 291104 WLST NORFOLK MUSIC cElRE TRUSTEES REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGU 2021 mAPu&SlTH & LEMMON LLP CHARTERED ACCOUNTANTS KING'S LYNN
WEST NORFOLK MUSIC CEiYfRE Charity No- 291104 REPORT AND FINANCIAL ATEmENrS FOR THE YEAR ENDED 31 AUGusf 2021 Contents P#ge Le8al and thiThistr4tiv¢ infornution Accountants report Statem¢nt of financi activiiies B4lan¢¢ sheet Not¢5 to the accounts &7
WEST NORFOLK MUSIC CENTrE Ch#rity No- 291104 LEGAL AND ADMINisfRATIVE INFORMATION R¢gistered Offic¢ of Charity 3 The Howards Ni)rth Wootton Norfolk PE30 3RS Reglstertd Charlty NuJryb¢r 291104 Charlty Prinelpal Office 3 The Howards North Wootion Kings L Norfolk PE30 3RS Indep¢ndtnt Ex•JDiner Mw.Smith & LmOn LLP 48 King Stre¢t King's Lyt Norfolk PE30 IHE Trus¢ees Mr Derek Stringer Mr Toby Win¢eringham Mrs saratk.jane Napper Mr Paul Denni5 Mrs Beatrice Bray Mr Conrad M¢¢han Mts Sarah-Jan¢ Dix Ms Kirn Keths Mr William Vys¢
WEST P40RFOLK MUSIC CENTRE TRUSTEES REPORT FOR THE YEAR T031 AUGUST 2021 Chirity No- 291104 The tntee$ present their report along with the fuwKial stste[llet of the chlty for the yearended 31 Augyst 2021. Statement of trtte,9 resp&nslbliltles Charity law rcquires the trStee$ to prepare accourtts Bive a tru¢ and fair view of the State of Affairs of the charity and of its income al expendiDJre for the finknciol y¢ar. In g). the tTPJ5tees 4r¢ r¢quired to: select suitable aceowiting polici and then apply them eonsistently, make judgements and estimate5 that are reasonable and pNdettt.' $tste whether applicable accounting standards and Statements of reconunended financial s¢at¢ments; and prepare ihe financial statements on the going ¢oncern basis unless it IS itwjpropriate to presume that the ¢harity will ¢onlinu¢ in operation. The trwtees ar¢ respottsible for maintaining proper accounrin8 records which dis¢lose with reasottable ¢uracy at any tim¢ the financial position of the charity and whi¢h enable them to ensure that the accounts comply with the CIHrities Act 2011. Th¢y are also responsible for safe8uardirt8 the assets of the charity and h¢ry¢¢ for 18king rea50nabl¢ steps for the prevetttion #nd det¢dion of fraud and other irTegulariti¢y. Le¥#1 stitus & 01$#t10 The charity was found¢d on 6th March 1985. The Governin8 Instrum¢nts wider wluch the ¢haTity operate5 1$ the deed dated 24th September 1980 as Amended by Supplemen deed 26th Jartuary 1985 and scheme dated 4th October 1988. as Amended on 10th June 1997 as amended on 17th June 2019 and 3 1st July 2019. Th¢ ¥rwiisation is a r¢8ist¢red ¢haritv (Chariry Number 2911041. Other administr]Ve detwls are as Sho ort p4¢ 1. Structure• governgnce #Ad miJgtthettt The trustees are reSpOlbIt for th¢ govanCe of the cknriry enstsr¢ that it pursyes th¢ obj¢¢ts (or whith it wjs founded. New trustees. bein8 9]Ir1ed by experi¢n¢¢, 4re appointed by recommendation of the ¢umt trusi¢u, or by propo1 of a ¢urren¢ truste¢ entitled to vok ai a meeting of th¢ charity. ObJ¢ctlvu ind ictlvltks of ihe chirlty for the pubjlt b¢utfj¢ The Trustees have had re8ard w the Charity Commission's 8uidarKe ort publi¢ b¢nefLt and h4v¢ sought to ensure that all activities undertaken have been An lin¢ with the charity's obje¢tiveJ. The mwn objective5 of the charity are.. To advance the educAtion of th¢ publi¢ in the arts and sciences in partieulorth¢ 4rt Ind s¢i¢tt¢e of music by the provision of ltin. Achlevements and Perfonnante The charity has continued to irnplemerf its wjlicy of ¢on¢inued tuitiOD of music b) ail 98e 8fOUPJ. FID•ntll Revlew, Invu¢ment Polley Ind Reserv The atta¢h¢d documents demonstrate in finala1 ternts the activitie5 of the charity for the pastyear. As can be svn the ¢harity a d¢fi¢it on unwremctrd funds in the ¢urr¢nt yearof £6J49 compared b) £34,232 surplus in the pnoryw. AuMUlated unrestricted fut carried forward ar¢ £426,453 (2020- £432,802), this level of fiumls is seert as satisfa¢tory in order for the charity to cotttinue meeting its objertiyu. OTr behalf of the Trustoes 162 Tpr troihJ7J Q i A]
WEST NORFOLK MUSIC CENTrE Charity No- 291104 INDEPENDENT EXAMINER'S REPORTTO THE TRUSTEES OF WLST NORFOLK MUSIC CENTRE I report on the accounts of the Trusi for the period ended 31 Au8USt 2021, whtch are sd out ort page5 5109. Respeetlve rtJponsibilitiu of trtte9 and indeptndent eMmiDtr The Iste¢S ore reSPolb1¢ for the preparatton of the a¢¢ounts. The eharity¥ tnteeS cortsider that an audit 1$ not required for this year under section 144(2) of the Tharities Ad 2011 (the 2011 A¢¢), and that an indepe[ent examin£tion is neth Having satisfied myself that th¢ Charity is ]t subject to audit under MpaThY law and is ¢ligible for Independent examination, it is my responsibility to.. - ex11¢ the a¢counts under seaion 145 the 2011 Aet. - kn follow the procedures laid down in the General Dir¢ctiOn5 given by the Ch¥ity Conmiis5ion under sethiork 145 {5Xb) of the 2011 ACL and - to State whether parti¢ular matters hav¢ come to my attention BASIS of Independent examIneI report My examination was carried out in a¢cordance with the Genenl Dirertions given by the Ch¥rity Commission. A ¢xarnination includes a Teview of the accountin8 rerdS k¢N by the eharity a comparison of th¢ a¢counts presented wth those records. It aljo includes eonsidernion of unusual items or diK105ures in the accounts. and the seeking of explanations fmm you a5 Inte¢S con¢¢rnin8 any such matters. The procedures undertaken do not pn)vid¢ Jll the evidertce that would be rtquired in an audit and, consequently, no opinion is 8iven to wh¢ther the accounts pre$¢nt a Inje and fair view and the report is limited to those matters set out in th¢ statement below. Independent ¢¥iJDlnerJ statemént In connection with my examination. nts matter eoTne to my attefttion.. 111 which gives me T¢nable cat to believe tha¢ in any material resp¢¢i the trte¢S ve ttot met the requirements to ensure th4¢'. al proper CoUnting records are k¢p¢ (in aceordart¢¢ with section 130 of the 2011 Act): and bl accounts ¥re prepared which agree with the accouniin8 rKords and comply with the counting requirements of th¢ 2011 Act.. or {21 to whi¢h, ITh my opinion, attenlion should be drmvn in order to enable a pmp¢r under5tandin8 of the attounts to be ttached. Date...L&..l.w..l.èK2£.... Mgpus4mltb & tAmmon LLP Chartered A¢countants 48 King Street Kings Lyt Norfolk PE30 IHE
WEST NORFOLK MUSIC CENTRE Charity No- 291104 STATEMENT OF FINANCIAL ArfiviTIES (INCLUDING INCOME AND EXPENDrruRE ACCOUNT) FOR THE YEAR ENDED 31 AUGUST 2021 No¢¢$ Restritted 2•21 Tot•1 10211 Tot•1 INCOMING RESOURCES Fees from students Surplus from open cvenin8s Surplus from fr¢shrnent ¢1 Donations Hire of instruTn¢nt$ ID¢fi¢irYSurplu$ on sa]¢5 of reeds Surplus froTn s¢ud¢nl'$ exams Mi¢hael Janson L¢g Other iD¢om¢ Tololth¢omln¥ 8,615 8.615 29.371 387 1,098 78 290 618 618 217 39.154 326 70,818 18,585 27.819 27.819 Sundry income Inieresi received 468 23 28.309 468 23 28.309 58 70,875 Erpenses Adjusrmeni to stock Tutorial and staff payments Rertt Inswance Repairs and renewals Postage, telephone and sl0¢ry Accountancy Sundry expenses 17.475 1.960 217 48 41 210 17.475 1.960 217 48 41 210 30.906 2.070 132 110 156 Oiher Costs D¢preciAtion 31 31 31 31 42 42 Total r0r¢ expended Net {dell¢itysurplui for th¢ year
WEST NORFOLK fvTUSIC cEllE Chairity No- 303959 BAIANCE SHEET AS AT 31 AUGusf 2021 Notu 2021 2020 Fixed Asjets 125 Current AJts Stocks Debtors Bk current awounts Investmet Holding Aeeount Cash in hand 826 713 24,798 445,704 10.371 30 481.730 71.437 361.134 30 433.314 Currettt Ll•bllltles Suttdry credilcrs and accruals 426 636 Net Current Ajsets 481,303 432.677 Tot•1 Ajjtts leu Current Ll•bllltles 481J97 432,802 FUNDS Ae¢umul#tloo of unmtrlrted fun 436,827 432.802 Revalu•tlon Ru¢rve 44,570 Tot*1 Charlty Fumth 481J97 432,802 The COUnts were Approved by the trusttts on.... .... ..... ................. and •re signed on their behalf by.. aA (CFL4tRMANI -, Ai É¥t
WEST NORFOLK MUSIC CENTRE Cbirity No- 291104 NOTLS TO THE FINANCIAL STATEMEM5 FOR THE YEAR TO 31 AUGUST 2021 l. Accounting policies The significant a¢counti118 w>li¢ies LLs¢d in the preparation of these stalements are'.- 1.1 Ba5iJ of i¢coun¢ing The financial statements preped in accordance with applithle accountin8 stsndards on the basi5 that the harity can coniirttse to operate &5 a going concern. The trustees believe this basis to be appropriate as the musi¢ eentre Iw 5uffi¢ient available to fJllanc¢ its operations for the hrese¢abl¢ fith¢. The music centre has prepared its rywla1 ststemettts in Aceordance with the requirements of the Charities A¢t 2011 and the statement of recommend¢d pr4cli¢e A¢countin8 attd Rep)rtin8 by Charities ISORP 20051 and applicable UK Accounting Standard. 1.2 Incoming resourees All irtcomin8 r¢sources are included in th¢ SOFA when the chariry is legally ¢ntiti¢d to th¢ irKom¢ And the amouttt can be quarttified with I¢0able accuracy. The following $ifiC policies are applied to partieular categories of income.. Incoming Resources compris¢s Principally of tpjition iticome event income. Dtrnitlotti gr•nts Income from donations and are io¢lud¢d in incomin8 resources th¢ll th¢s¢ are receivable. Interut rttdvble Interest is included wh¢n r¢¢eivable by the chariry. 1.3 Rtsourttj ¢xp¢nd¢d Expendi¢ur¢ is r¢¢ognised ett a liability is incurred. ContracwAI arrangements and perfornwice related grant5 are re¢ognised as 8ood5 or s¢rvi¢es are supplied. Other gran¢ payments are re¢o8ni5ed when 4 ¢onstru¢¢ive obli8aiion arises lh results the paymerf b¢in8 unavoidable. Costs of generatin8 fiJnd$ are costs incurred in tradirt8 a¢tivi¢ies that rnise fiu)ds. Govemartce Costs include those incurred in th¢ governance of the Charity and its assets and are primarily asso¢iat¢d with the constiftrtional •TKI statutory requirements. 1.4 Futtth S*TUCture Gen¢r31 funds ar¢ unrestricied futtds whi¢h are available for use at th¢ dI5¢110n of the intstees in fvrtherance of th¢ &enerai obj¢¢tives of the chwity and which have not b¢¢n designated forother purp)ses. D¢si8nated funds Comprise wwejtricted funds that have been s¢t ld¢ by the trjsiees for particular purposes. Th¢ aim and us¢ of ¢h d¢signated fund hs set out in the notes to the statements. Restrirfed thrtdg are funds which are to be used irt I0[dance with specifie restric¢ions imposed by donors or thich have been rnis¢d by the charity for particular purposes. The cost of raising administeriTh8 such fimd$ ¥¢ 08ainsi ihe $pecifLC fund. The aim and use of each restricted futtd is set out in the t¢S of the financial stai¢ments.
WEST NORFOLK MUSIC CENTRE Charity No- 291104 NOTES TO THE FtNANCLiL STATEfvtENTS FOR THE TO JI AUGUST2021 2. Ntt Eip¢nditutt fot the yur This 1$ Sthled alierthing.. 2121 1020 Ant¢Y aod iY¢&keepiD8 210 156 3. FlJ¢d Ajxts Totsl Cost At I Septanber 2020 Additions irt the year At 31 AU51 2021 12J73 11573 12.573 12.573 Dtpre¢i•¢io At I Septtmber 2020 Ch8r8e ftt th¢year At 31 Auwsi 2021 12.448 12,406 42 12.44R 12,479 Net Book Vmlut At 31 Augu312021 125 Al I Septemb¢r 2020 167 4. Cr¢dltorJ 2021 2021 Tnde credito 276 150 150 J. Mov¢mtllt kn fuo Inll SCember Resollr¢u (Woul8 2020 lirt¢. Tr¥ferI At31 2021 RÈrkf¢o f•uth: restri¢¢ed fu [IAr¢strkttd fund 431802 124.285) 436.827 fiJL¥Js 431802 28.309 24285 436.817
WEST NORFOLK MUSIC CENTRE CharityNo- 291104 r40TES TO THE FINANCIAL STATEMENTS FOR THE YEAR TO 31 AUGusf 2021 6. ReYAIuAtion ReJtrve 2021 B¥lon¢e brought fon¥ard In¢r¢os¢ in investment assets 44.570 Batsnce earrled torwird 44370