REGISTERED COMPANY NUMBER: 01945055 (England and Wales) REGISTERED CHARITY NUMBER: 293698
REPORT OF THE TRUSTEES AND
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021
FOR
EPTA - EUROPEAN PIANO TEACHERS ASSOCIATION (UK) LIMITED
Moss & Williamson Limited Booth Street Chambers Booth Street Ashton-under-Lyne Lancashire OL6 7LQ
EPTA - EUROPEAN PIANO TEACHERS ASSOCIATION (UK) LIMITED
CONTENTS OF THE FINANCIAL STATEMENTS for the Year Ended 31 March 2021
| Page | |||
|---|---|---|---|
| Chair's Report | 1 | ||
| Report of the Trustees | 2 | to | 5 |
| Independent Examiner's Report | 6 | ||
| Statement of Financial Activities | 7 | ||
| Balance Sheet | 8 | ||
| Notes to the Financial Statements | 9 | to | 14 |
EPTA - EUROPEAN PIANO TEACHERS ASSOCIATION (UK) LIMITED
CHAIR'S REPORT for the Year Ended 31 March 2021
It has been a difficult and challenging year for most charities but particularly so for EPTA UK: yet there has been much to be proud of in the way the charity has supported its membership and navigated its way through the pandemic. The financial position of the charity remained secure as at 31st March 2021. Membership numbers remained stable at 1422 (versus 1418 for 2019/20) and for yet another year subscription rates to members were unchanged.
The year has been a very proactive and busy one. In addition to the benefits provided centrally by EPTA UK the charity has also provided the following busy program of national events -
Tanner on Tour - a magnificent achievement of master classes and talks on various aspects of piano teaching delivered in all the regions by Mark Tanner, our previous chair
Springboard - a 30-day programme of daily events including presentations from members on aspects of teaching
National Performance Program
Sunday webinars - which have proved very popular.
Taking a stand at Expo
One of the unique and special features of EPTA UK is its network of regions and the amazing work done by the regional organisers. They have provided a much-needed opportunity for members to meet online and stay connected during these difficult times.
Looking forward, the position is positive. The trustees are working on a three-year strategic plan that will set out what the charity is about and how it can offer even more to its members. There are approximately 30,000 piano teachers in the UK and currently only 5% are members of EPTA so the trustees will implement new marketing strategy in order to attract new members.
..............................................................
P Lipman - Chair
Dated: 16 November 2021
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EPTA - EUROPEAN PIANO TEACHERS ASSOCIATION (UK) LIMITED (REGISTERED NUMBER: 01945055)
REPORT OF THE TRUSTEES for the Year Ended 31 March 2021
INTRODUCTION
The trustees present their annual report for the year ended 31 March 2021.
The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's governing document, the Companies Act 2006 and "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)" (as amended for accounting periods commencing from 1 January 2016).
The board of trustees is satisfied with the performance of the charity during the year and the position at 31 March 2021and consider that the charity is in a strong position to continue its activities during the coming year, and that the charity's assets are adequate to fulfil its obligations.
OBJECTIVES AND ACTIVITIES
Summary of main activities of the charity in relation to its objects
- The objects of the charity are:
-The promotion by all means lawfully charitable of the highest artistic and technical standards in the teaching of the piano for the benefit of the public, in particular by sponsoring research and study in all aspects of piano playing and the teaching and training of piano teachers, provided that all useful results of such research shall be published.
-The promotion of the study of the piano as an instrument at all levels of education.
-The furthering of musical education generally to ensure the establishment and maintenance of the highest standards of piano teaching.
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The charity has the general aim of increasing the membership in order to disseminate the principle of good practice in the profession. All events are open to member participants and non-member participants with the exception of the competitions.
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The main objectives of the year continued to be encouragement of all piano teachers to engage with professional development by recruiting new members and retaining existing members.
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The strategy employed to achieve these aims has been to organise events and activities, publicising them in national and regional events and the relevant periodicals. The trustees acknowledge that much of the charity's success in these areas is due to its reputation being passed on by word of mouth among the piano playing community.
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There are also a range of membership entitlements, chosen by the trustees, to reflect the aims of the charity and the needs of professional piano teachers and their pupils. There is a category for non-professional members with a reduced package of entitlements.
FINANCIAL REVIEW
Policies on reserves
It is the policy of the charity that unrestricted funds which have not been designated for a specific use should be maintained at a level equivalent to between three and six month's expenditure. The trustees consider that the reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the charity's current activities while consideration is given to ways in which additional funds may be raised. This level of reserves is maintained throughout the year.
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EPTA - EUROPEAN PIANO TEACHERS ASSOCIATION (UK) LIMITED (REGISTERED NUMBER: 01945055)
REPORT OF THE TRUSTEES for the Year Ended 31 March 2021
FINANCIAL REVIEW
Transactions and financial position
The financial statements comply with the Charities Act 2011, the Companies Act 2006, the Memorandum and Articles of Association, and Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard for Smaller Entities.
The Statement of Financial Activities shows net outgoing resources for the year of £2,195 (2020 - £3,912 ).
The total reserves at the year-end stand at £51,598 (2020: £53,793).
The great majority of expenditure is spent on charitable activities, either directly on piano teaching support and improvement or associated support costs.
Share Capital
The charity is a company limited by guarantee and therefore has no share capital,
STRUCTURE, GOVERNANCE AND MANAGEMENT
Nature of the governing document and constitution of the Charity
The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.
EPTA UK is registered as a charity in England and Wales (No. 293698) and a company limited by member guarantee and governed by it's Memorandum and Articles dated 5 September 1985 as amended by special resolutions on 28 August 1997 and 4 August 1999 and special resolution of 2 June 2008.
The methods adopted for the recruitment and appointment of new trustees
The trustees acknowledge that:
effective trustee recruitment and induction is one of the underpinning principles of the Code of Governance for the Voluntary and Community Sector: and
ideally the need to recruit people with varied life experiences and perspectives who represent the stakeholders with whom the charity works, and/or with an understanding of governance and the ability to think strategically.
EPTA UK trustees are drawn from the membership and all members are circulated prior to the AGM with the necessary information for nomination and election of trustees according to the rules in the governing document. The trustees have drawn up a separate trustee recruitment and induction policy which is critically reviewed every five years.
Relationships between the charity and related parties
The charity is a membership association with over 1000 members. This figure varies from year to year. There are several categories of membership, each with it's own entitlements and benefits. A membership subscription fee is payable annually according to the category of membership.
Volunteer members are appointed as regional organisers to organise events in their locality. Members and non-members can attend. Each region is largely autonomous and is encouraged to form a committee of not less than three with a treasurer to manage it's own bank account. Regions submit a summary of their financial activity each year and their assets are included in the company's annual financial report. Each region also submits a report on it's events to the management committee. Regions are eligible for small grants from the main account to assist in running events.
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EPTA - EUROPEAN PIANO TEACHERS ASSOCIATION (UK) LIMITED (REGISTERED NUMBER: 01945055)
REPORT OF THE TRUSTEES for the Year Ended 31 March 2021
STRUCTURE, GOVERNANCE AND MANAGEMENT Risk management The major risks to which the charity is exposed and reviews and systems to mitigate risks
The trustees have assessed the major risks to which the charity is exposed, and are satisfied that systems are in place to mitigate the major risks.
The policy for risk management is critically reviewed every three years or whenever significant increases or decreases in risk are discerned.
REFERENCE AND ADMINISTRATIVE DETAILS
Registered Company number
01945055 (England and Wales)
Registered Charity number
293698
Registered office
32 Booth Steet Ashton-Under-Lyne Lancashire OL6 7LQ
Trustees
N Lasserson M A C Mclachlan (resigned 31.1.21) M P Tanner (resigned 17.5.21) K Marshall (resigned 14.2.21) A Wakefield Taylor (resigned 17.5.21) K L Page (resigned 31.1.21) S J Craxton A Williams A J Fogg (appointed 4.6.21) T K Girton (appointed 31.1.21) A Higgins (appointed 13.9.21) P M Lipman (appointed 9.6.21) M A Shah (appointed 31.1.21) A Shorr (appointed 11.10.21)
Independent Examiner
Moss & Williamson Limited Booth Street Chambers Booth Street Ashton-under-Lyne Lancashire OL6 7LQ
STATEMENT OF TRUSTEES' RESPONSIBILITIES
The trustees (who are also the directors of EPTA - European Piano Teachers Association (UK) Limited for the purposes of company law) are responsible for preparing the Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
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EPTA - EUROPEAN PIANO TEACHERS ASSOCIATION (UK) LIMITED (REGISTERED NUMBER: 01945055)
REPORT OF THE TRUSTEES for the Year Ended 31 March 2021
STATEMENT OF TRUSTEES' RESPONSIBILITIES - continued
Company law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing those financial statements, the trustees are required to
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select suitable accounting policies and then apply them consistently;
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observe the methods and principles in the Charity SORP;
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make judgements and estimates that are reasonable and prudent;
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business.
The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Approved by order of the board of trustees on 16 November 2021 and signed on its behalf by:
P M Lipman - Trustee
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INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF EPTA - EUROPEAN PIANO TEACHERS ASSOCIATION (UK) LIMITED
Independent examiner's report to the trustees of EPTA - European Piano Teachers Association (UK) Limited ('the Company')
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 March 2021.
Responsibilities and basis of report
As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').
Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5) (b) of the 2011 Act.
Independent examiner's statement
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:
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accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or
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the accounts do not accord with those records; or
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the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination; or
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the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)).
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
David Evans FCA Moss & Williamson Limited Booth Street Chambers Booth Street Ashton-under-Lyne Lancashire OL6 7LQ
16 November 2021
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EPTA - EUROPEAN PIANO TEACHERS ASSOCIATION (UK) LIMITED
STATEMENT OF FINANCIAL ACTIVITIES for the Year Ended 31 March 2021
| 2021 Unrestricted fund Notes £ INCOME AND ENDOWMENTS FROM Donations and legacies 20 Charitable activities Members subscriptions 82,093 Competitions 360 Magazine sales 172 Book sales 5,142 Regional offices 212 Other event fees - Education fees 508 Advertising income 1,439 Investment income 2 23 Total 89,969 EXPENDITURE ON Charitable activities 3 Support costs 52,738 Costs of charitable activities 40,926 Governance costs 2,890 Total 96,554 NET INCOME/(EXPENDITURE) (6,585) RECONCILIATION OF FUNDS Total funds brought forward 53,793 TOTAL FUNDS CARRIED FORWARD 47,208 |
2020 Total funds £ 225 87,535 3,262 1,779 7,107 1,837 83 39,473 - 67 141,368 41,461 97,291 6,528 145,280 (3,912) 57,705 53,793 |
|---|---|
The notes form part of these financial statements
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EPTA - EUROPEAN PIANO TEACHERS ASSOCIATION (UK) LIMITED (REGISTERED NUMBER: 01945055)
BALANCE SHEET 31 March 2021
| 2021 Unrestricted fund Notes £ CURRENT ASSETS Stocks 7 2,172 Prepayments and accrued income 3,134 Cash at bank 8 80,225 85,531 CREDITORS Amounts falling due within one year 9 (38,323) NET CURRENT ASSETS 47,208 TOTAL ASSETS LESS CURRENT LIABILITIES 47,208 NET ASSETS 47,208 FUNDS 10 Unrestricted funds 47,208 TOTAL FUNDS 47,208 |
2020 Total funds £ 2,255 9,884 68,522 80,661 (26,868) 53,793 53,793 53,793 53,793 53,793 |
|---|---|
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2021.
The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2021 in accordance with Section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for
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(a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
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(b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.
These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.
The financial statements were approved by the Board of Trustees and authorised for issue on 16 November 2021 and were signed on its behalf by:
P M Lipman - Trustee
The notes form part of these financial statements
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EPTA - EUROPEAN PIANO TEACHERS ASSOCIATION (UK) LIMITED
NOTES TO THE FINANCIAL STATEMENTS for the Year Ended 31 March 2021
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) (effective 1 January) 2015) - (Charities SORP (FRS102), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.
Income
Income is recognised when the charity has entitlement to the funds, any performance conditions attached to the items have been met, it is probable that the income will be received and the amount can be measured reliably.
Income from grants, whether capital or revenue in nature is recognised when the charity has entitlement to the funds, any performance conditions attached to the grants have been met, it is probable that the income will be received and the amount can be measured reliably. Grant income will be deferred if received in advance of meeting performance conditions or if the donor specifically states that the income must be spent in a future accounting period.
Income relating to events is recognised in the period in which the event occurs.
Donations comprise gifts that will not provide any return to the donor other than the knowledge that someone will benefit from the donation. Income from donations include gifts that must be spent on some particular area of work (i.e. restricted income funds).
Income from book sales is made up of the sales commission and is recognised in the period in which it has been earned.
Deferred income consists of cash received by the charity, where the income recognition criteria has not been met because entitlement to the income does not exist at the balance sheet date. Deferred income is not recognised in the SOFA until the charity is entitled to the income. Instead, deferred income is disclosed as a liability in the balance sheet.
Expenditure
Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably. Expenditure is classified under the following activity headings:
Charitable Activities Governance Costs Support Costs
Grants and donations payable are taken into account at the earlier of when they are paid or become legally enforceable.
Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.
Taxation
The charity is exempt from corporation tax on its charitable activities.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
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EPTA - EUROPEAN PIANO TEACHERS ASSOCIATION (UK) LIMITED
NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 31 March 2021
1. ACCOUNTING POLICIES - continued
Fund accounting
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
2. INVESTMENT INCOME
| INVESTMENT INCOME | ||
|---|---|---|
| 2021 | 2020 | |
| £ | £ | |
| Bank interest | 23 | 67 |
3. CHARITABLE ACTIVITIES COSTS
| CHARITABLE ACTIVITIES COSTS | ||
|---|---|---|
| Support costs Costs of charitable activities Governance costs GRANTS PAYABLE Costs of charitable activities |
Grant funding of activities Support Direct (see note costs (see Costs 4) note 5) £ £ £ - - 52,738 39,926 1,000 - - - 2,890 39,926 1,000 55,628 2021 £ 1,000 |
Totals £ 52,738 40,926 2,890 |
| 96,554 | ||
| 2020 £ 1,718 |
4. GRANTS PAYABLE
Grants paid to pianists from Unrestricted Funds in the year were to 2 (2020: 4 ) individuals.
5. SUPPORT COSTS
| Governance Management costs £ £ Support costs 52,738 - Governance costs - 2,890 52,738 2,890 |
Totals £ 52,738 2,890 |
|---|---|
| 55,628 |
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EPTA - EUROPEAN PIANO TEACHERS ASSOCIATION (UK) LIMITED
NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 31 March 2021
5. SUPPORT COSTS - continued
Support costs are the cost of administrative support associated overheads for all the activities of the charity. There are no employees as administrative support is provided on a self-employed or sub contracted basis.
Support costs, included in the above, are as follows:
| Administrative Support Printing, stationery, postage & telephone Website development Insurance Bank charges Trustees' remuneration etc Travel and meeting costs Independent Examiner's fee |
2021 Support Governance Total costs costs activities £ £ £ 45,867 - 45,867 3,761 - 3,761 2,042 - 2,042 463 - 463 605 - 605 - - - - 500 500 - 2,390 2,390 52,738 2,890 55,628 |
2020 Total activities £ 32,899 5,803 1,009 582 1,168 3,729 609 2,190 |
|---|---|---|
| 47,989 |
6. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 March 2021 nor for the year ended 31 March 2020.
Trustees' expenses
| Trustees' expenses | |||
|---|---|---|---|
| 2021 | 2020 | ||
| £ | £ | ||
| Trustees' expenses | - | 3,729 |
The nature of the expenses was reimbursement of travel and meeting costs. The number of trustees to whom expenses payments were made was nil (2020: 11).
7. STOCKS
| STOCKS | ||
|---|---|---|
| 2021 | 2020 | |
| £ | £ | |
| Stocks | 2,172 | 2,255 |
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EPTA - EUROPEAN PIANO TEACHERS ASSOCIATION (UK) LIMITED
NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 31 March 2021
8. CASH AT BANK
| CASH AT BANK | ||
|---|---|---|
| Bank accounts Regional Office Bank accounts Total |
2021 Total funds £ 72,331 7,894 80,225 |
2020 Total funds £ 51,545 16,977 |
| 68,522 |
The Regional Offices' bank accounts are under the control of the Regional Organisers only (and not the Trustees). For this reason, Regional Offices' aggregate bank balances are shown separately in the Balance Sheet.
9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
| CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | ||
|---|---|---|
| Accrued expenses Membership subscriptions paid in advance |
2021 £ 6,620 31,703 38,323 |
2020 £ 2,000 24,868 |
| 26,868 |
10. MOVEMENT IN FUNDS
| MOVEMENT IN FUNDS | |||
|---|---|---|---|
| Net | |||
| movement | At | ||
| At 1.4.20 | in funds | 31.3.21 | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 53,793 | (6,585) | 47,208 |
| TOTAL FUNDS | 53,793 | (6,585) | 47,208 |
| Net movement in funds, included in the above are as follows: | |||
| Incoming | Resources | Movement | |
| resources | expended | in funds | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 89,969 | (96,554) | (6,585) |
| TOTAL FUNDS | 89,969 | (96,554) | (6,585) |
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EPTA - EUROPEAN PIANO TEACHERS ASSOCIATION (UK) LIMITED
NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 31 March 2021
10. MOVEMENT IN FUNDS - continued
Comparatives for movement in funds
| At 1.4.19 £ Unrestricted funds General fund 57,705 TOTAL FUNDS 57,705 Comparative net movement in funds, included in the above are as follows: Incoming resources £ Unrestricted funds General fund 141,368 TOTAL FUNDS 141,368 |
Net movement At in funds 31.3.20 £ £ (3,912) 53,793 (3,912) 53,793 Resources Movement expended in funds £ £ (145,280) (3,912) (145,280) (3,912) |
|---|---|
A current year 12 months and prior year 12 months combined position is as follows:
| Unrestricted funds General fund TOTAL FUNDS |
Net movement At 1.4.19 in funds £ £ 57,705 (10,497) 57,705 (10,497) |
At 31.3.21 £ 47,208 |
|---|---|---|
| 47,208 |
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
| Incoming | Resources | Movement | |
|---|---|---|---|
| resources | expended | in funds | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 231,337 | (241,834) | (10,497) |
| TOTAL FUNDS | 231,337 | (241,834) | (10,497) |
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EPTA - EUROPEAN PIANO TEACHERS ASSOCIATION (UK) LIMITED
NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 31 March 2021
11. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31 March 2021.
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