| Pages | ||
|---|---|---|
| Trustees' Annual Report |
2to 4 | |
| Independent Examiner's Report |
||
| Statement of Financial Activities | ||
| Summary Income and Expenditure |
Account | |
| Balance Sheet | ||
| Notes tothe Accounts | 9to 17 | |
| Detailed Statement of Financial Activities | 18to 19 |
| for the year | ended 31March | 2023 | |||||
|---|---|---|---|---|---|---|---|
| Unrestricted | Restricted | ||||||
| funds | funds | Total funds | Total funds | ||||
| 2023 | 2023 | 2023 | 2022 | ||||
| Notes | E | f | |||||
| Income and | endowments | ||||||
| from: | |||||||
| Donations | and legacies | 189,958 | 189,958 | ||||
| Charitable | activities | 14,904 | 14,904 | 28,216 | |||
| Investments | 1,942 | 1,942 | 3,556 | ||||
| Other | 29,726 | ||||||
| Total | 206,804 | 206,804 | 61,498 | ||||
| Expenditure | on: | ||||||
| Charitable | activities | 30,429 | 30,429 | 8,740 | |||
| Other | 233,002 | 875 | 233,877 | 221,940 | |||
| Total | 263,431 | 875 | 264,306 | 230,680 | |||
| Net gains on | investments | ||||||
| Net expenditure | 10 | (56,627) | (875) | (57,502) | (169,182) | ||
| Transfers between funds |
|||||||
| Net expenditure before other |
|||||||
| gains/(losses) | (56,627) | (875) | (57,502) | (169,182) | |||
| Other gains and losses | |||||||
| Net movement in funds |
(56,627) | (875) | (57,502) | (169,182) | |||
| Reconciliation | offunds: | ||||||
| Total funds brought forward | 1,754,885 | 16,129 | 1,771,014 | 1,940,196 | |||
| Total funds carded forward | 1,698,258 | 15,254 | 1,713,512 | 1,771,014 |
| 2023 | 2022 | |||
|---|---|---|---|---|
| E | f | |||
| Income | 204,862 | 57,942 | ||
| Interest and | investment income |
1,942 | 3,556 | |
| Gross income for | the year | 206,804 | 61,498 | |
| Expenditure | 251,623 | 193,583 | ||
| Depreciation | and | charges for | ||
| impairment | offixed assets | 12,683 | 37,097 | |
| Total expenditure | forthe year | 264,306 | 230,680 | |
| Net expenditure | before tax forthe year | (57,502) | (169,182) | |
| Net expenditure | forthe year | (57,502) | (169,182) |
| Fund accoun | Fund accoun | ting | ting | |||||
|---|---|---|---|---|---|---|---|---|
| Unrestricted | funds | These are available for use at the discretion ofthe trustees | in furtherance | of | ||||
| the general objects ofthe charity. | ||||||||
| These are unrestricted funds earmarked by the trustees |
for particular | |||||||
| Designated | funds | purposes. | ||||||
| Revaluation | funds | These are unrestricted funds which include a revaluation |
reserve representing | |||||
| the restatement ofinvestment assets at their market values. |
||||||||
| Restricted | funds | These are available for use subject to restrictions imposed |
by the donor | or | ||||
| through terms ofan appeal. | ||||||||
| Income | ||||||||
| Recognition | of | Income is included in the Statement of Financial Activities |
(SoFA) when the | |||||
| income | charity becomes entitled to, and virtually certain to receive, the income |
and | ||||||
| the amount ofthe income can be measured with sufficient |
reliability. | |||||||
| Income with | related | Where income has related expenditure the income and |
related expenditure | is | ||||
| expenditure | reported gross in the SoFA, | |||||||
| Donations | and | Voluntary income received by way of grants, donations |
and gifts is included | in | ||||
| legacies | the the SoFA when receivable and only when the Charity has unconditional |
|||||||
| entitlement tothe income. |
||||||||
| Tax reclaims | on | Income from tax reclaims is included in the SoFA at the |
same time asthe | |||||
| donations | and | gifts | gift/donation to which it relates. |
|||||
| Donated services | These are only included in income (with an equivalent amount in expenditure) |
|||||||
| and facilities | where the benefit tothe Charity is reasonably quantifiable, |
measurable | and | |||||
| material. | ||||||||
| Volunteer | help | The value of any volunteer help received is not included |
in | the accounts. | ||||
| Investment | income | This is included in the accounts when receivable. |
||||||
| Gains/(losses) | on | This includes any gain or loss resulting from revaluing investments to market |
||||||
| revaluation | of | fixed | value at the end ofthe year. | |||||
| assets | ||||||||
| Gains/(losses) | on | This includes any gain or loss on the sale of investments. |
||||||
| investment | assets |
| Unrestricted | Restricted | ||||||
|---|---|---|---|---|---|---|---|
| funds | funds | Total funds | |||||
| 2022 | 2022 | 2022 | |||||
| f | f | ||||||
| Income and | endowments | from: | |||||
| Charitable | activities | 28,216 | 28,216 | ||||
| Investments | 3,556 | 3,556 | |||||
| Other | 29,726 | 29,726 | |||||
| To~a( | 61,498 | 61,498 | |||||
| Expenditure | on: | ||||||
| Charitable | activities | 8,740 | 8,740 | ||||
| Other | 221,035 | 905 | 221,940 | ||||
| Total | 229,775 | 905 | 230,680 | ||||
| Net income | (168,277) | (905) | (169,182) | ||||
| Net income before | other | ||||||
| gains/(losses) | (168,277) | (905) | (169,182) | ||||
| Other gains and losses: | |||||||
| Net movement | in funds | (168,277) | (905) | (169,182) | |||
| Reconciliation | offunds: | ||||||
| Total funds brought | forward | 1,923,162 | 17,034 | 1,940,196 | |||
| Total funds carried | forward | 1,754,885 | 16,129 | 1,771,014 |
| income from d | onations a |
nd | legacies | ||||
|---|---|---|---|---|---|---|---|
| Unrestricted | Total | Total | |||||
| 2023 | 2022 | ||||||
| E | E | ||||||
| Grants received | 189,958 | 189,958 | |||||
| 189,958 | 189,958 | ||||||
| Donated goods, facilities | and services received | Total | Total | ||||
| 2023 | 2022 | ||||||
| E | E | ||||||
| Grants received | 189,958 | ||||||
| 189,998 | |||||||
| 5 | Income from | charitable | activities | ||||
| Unrestricted | Total | Total | |||||
| 2023 | 2022 | ||||||
| E | |||||||
| Advancement | ofeducation | 14,904 | 14,904 | 28,216 | |||
| 14,904 | 14,904 | 28,216 | |||||
| 6 | Income from | investments | |||||
| Unrestricted | Total | Total | |||||
| 2023 | 2022 | ||||||
| Deposit account interest | 1,942 1,942 |
1,942 '1,942 |
3,556 3,556 |
||||
| 7 | Other income | ||||||
| Total | Total | ||||||
| 2023 | 2022 | ||||||
| E | E | ||||||
| Covid grants | received | 29,726 29,726 |
|||||
| 8 | Expenditure | on charitable | activities | Unrestricted | Total | Total | |
| 2023 | 2022 | ||||||
| Expenditure | on charitable | ||||||
| activities | |||||||
| Advancement | ofeducation | 30,429 | 30,429 | 8,740 | |||
| Governance | costs | ||||||
| 30,429 | 30,429 | 8,740 |
| 9 | Other expenditure | |||||||
|---|---|---|---|---|---|---|---|---|
| Unrestricted | Restricted | Total | Total | |||||
| 2023 | 2022 | |||||||
| Advertising and website |
||||||||
| costs | 32,295 | 32,295 | 22,361 | |||||
| Employee costs | 151,752 | 151,752 | 123,692 | |||||
| Motor and travel costs | 270 | |||||||
| Premises costs | 25,964 | 25,964 | 28,821 | |||||
| Amortisation, depreciation, |
||||||||
| impairment, profit/loss |
on | 11,808 | 875 | 12,683 | 37,097 | |||
| disposal offixed assets | ||||||||
| General administrative | costs | 9,676 | 9,676 | 8,316 | ||||
| Legal and professional | costs | 1,507 | 1,507 | 1,383 | ||||
| 233,002 | 875 | 233,877 | 221,940 | |||||
| 10 | hlet expenditure before |
transfers | ||||||
| 2023 | 2022 | |||||||
| This is stated after charging: | E | E | ||||||
| Depreciation ofowned |
fixed assets | 12,683 | 38,090 | |||||
| Independent Examiner's |
fee | 1,507 | 1,383 | |||||
| 11 | Staffcosts | |||||||
| 2023 | 2022 | |||||||
| Salaries and wages | 135,974 | 111,785 | ||||||
| Social security costs | 15,778 | 11,771 | ||||||
| 151,752 | 125,556 | |||||||
| No employee received emoluments |
in excess ofE60,000. | |||||||
| The average monthly number offull |
time equivalent | employees | during the | year was as follows: | ||||
| 2023 | 2022 | |||||||
| Number | Number | |||||||
| Employees | 3 | 3 |
| Land and | Studio | Fixtures & | Total | |||
|---|---|---|---|---|---|---|
| buildings | equipment | Fittings | ||||
| f | f | |||||
| Cost or revaluation | ||||||
| At 1April 2022 | 1,334,245 | 283,501 | 13,023 | 1,630,769 | ||
| Additions | 4,165 | 4,165 | ||||
| At 31March | 2023 | 1,334,245 | 287,666 | 13,023 | 1,634,934 | |
| Depreciation | and | |||||
| impairment At 1April 2022 |
90,900 | 272,288 | 12,118 | 375,306 | ||
| Depreciation | charge for the | 10,674 | 1,918 | 91 | 12,683 | |
| year At 31March |
2023 | 101,574 | 274,206 | 12,209 | 387,989 | |
| Net book values | ||||||
| At 31March | 2023 | 1,232, 671 | 13466 | 314 | 1,246,943 | |
| At 31March | 2022 | 1,243,345 | 11,213 | 905 | 1,255,463 | |
| 13 | Debtors | |||||
| 2023 | 2022 | |||||
| E | E | |||||
| Prepayments | and accrued income | 97,308 97,308 |
915 913 |
|||
| 14 | Creditors: | |||||
| amounts falling due within one year |
||||||
| 2023 | 2022 | |||||
| f | ||||||
| Other taxes | and social security | 3,663 | 3,808 | |||
| Accruals | 2,367 | 4,131 | ||||
| 6,030 | 7,939 |
| Movement | in funds | ||||
|---|---|---|---|---|---|
| Incoming | |||||
| resources | At 31 | ||||
| Resources | |||||
| At 1April | (including other |
expended | March 2023 |
||
| 2022 | gains/lasses) | ||||
| E | E | ||||
| Restricted funds: | |||||
| Restricted income funds; | |||||
| Equipment | 16,129 | (875) | 15,254 | ||
| Total | 16,129 | (875) | 15,254 | ||
| Unrestricted | funds: | ||||
| General funds | 334,183 | 206,804 | (263,431) | 277,556 | |
| Designated | funds: | ||||
| Contingency | fund | 100,000 | 100,000 | ||
| Capital asset | fund | 1,320,702 | 1,320,702 | ||
| Total | 1,420,702 | 1,420,702 | |||
| Totalfunds | 1,771,014 | 206,804 | (264,306) | 1,713,512 |
| 16 | Analysis ofne | t assets between funds |
|||
|---|---|---|---|---|---|
| Unrestricted | Restricted | ||||
| Total | |||||
| funds | funds | ||||
| E | E | E | |||
| Fixed assets | 1,239,069 | 7,876 | 1,246,945 | ||
| Net current assets | 466,567 | 466,567 | |||
| 1,705,636 | 7,876 | 1,713,512 | |||
| 17 | Recanciliation | ofnet debt | |||
| At 31 | |||||
| At 1April | March | ||||
| 2022 | Cash flows | 2023 | |||
| E | E | E | |||
| Cash and cash | equivalents | 522,575 | (147,286) | 375,289 | |
| 522,575 | (147,286) | 375,289 | |||
| Net debt | 522,575 | (147,286) | 375,289 |
| Unrestricte | ||||||
|---|---|---|---|---|---|---|
| d funds | Total funds | Total funds | ||||
| 2023 | 2023 | 2023 | 2022 | |||
| E | E | E | ||||
| Income and endowments | from: | |||||
| Donations and legacies |
||||||
| Grants received | 189,958 | 289,958 | ||||
| 189,958 | 189,958 | |||||
| Charitable activities |
||||||
| Advancement ofeducation |
14,904 | 14,904 | 28,216 | |||
| 14,904 | 14,904 | 28,216 | ||||
| Investments | ||||||
| Deposit account interest | 1,942 | 1,942 | 3,556 | |||
| 1,942 | 1,942 | 3,556 | ||||
| Other | ||||||
| Covid grants received | 29,726 | |||||
| 29,726 | ||||||
| Totalincome and endowments |
206,804 | 206,804 | 61,498 | |||
| Expenditure on: | ||||||
| Charitable activities |
||||||
| Advancement ofeducation |
30,429 | 30,429 | 8,740 | |||
| 30,429 | 30,429 | 8,740 | ||||
| Total ofexpenditure | on charitable | |||||
| activities | 30,429 | 30,429 | 8,740 | |||
| Other expenditure | ||||||
| Advertising and website costs |
32,295 | 32,295 | 22,361 | |||
| Employee costs | 32,295 | 32,295 | 22,361 | |||
| Salaries/wages Employer's NIC Staff entertainment |
135,974 15,778 |
135,974 15,778 |
111,785 11,771 |
|||
| 136 | ||||||
| Travel and subsistence | 151,752 | 151,752 | 123,692 | |||
| 270 | ||||||
| Premises costs | 270 | |||||
| Rent Rates Light, heat and power Premises cleaning Premises insurances Premises repairs and |
3,511 3,424 2,919 4,854 2,600 |
3,511 3,424 2,919 4,854 2,600 |
2,210 13,669 1,012 2,035 2,482 |
|||
| maintenance | 8,656 | 8,656 | 8,413 | |||
| 25,964 | 25,964 | 28,821 |
| lington Music Workshop Ltd etailed Statement ofFinancial |
Activities | ||||
|---|---|---|---|---|---|
| General administrative costs, |
|||||
| including depreciation and |
|||||
| amortisation | |||||
| Depreciation of land and | 10,674 | 10,674 | 10,674 | ||
| buildings | |||||
| Depreciation ofStudio |
1,043 | 875 | 1,918 | 27,315 | |
| equipment | |||||
| Depreciation of Fixtures (k |
91 | 91 | 101 | ||
| Fittings | |||||
| Loss on disposal oftangible | fixed | (993) | |||
| assets Bank charges |
24 | 24 | 24 | ||
| Equipment repairs and |
1,500 | 1,500 | 1,648 | ||
| maintenance General insurances |
2,872 | 2,872 | 2,538 | ||
| Software, ITsupport and related |
79 | 79 | 98 | ||
| costs Stationery and printing Subscriptions Sundry expenses Telephone, fax and broadband |
1,525 647 236 2,793 21,484 |
875 | 1,525 647 236 2,793 22,359 |
549 488 280 2,691 45,413 |
|
| Legal and professional costs |
|||||
| Audit/Independent examination |
1,507 | 1,507 | 1,383 | ||
| fees | 1,507 | 1,507 | 1,383 | ||
| Total of expenditure ofother |
costs | 233,002 | 875 | 233,877 | 221,940 |
| Tota Iexpenditure | 263,431 | 875 | 264,306 | 230,680 | |
| Net gains on investments | |||||
| (56627) | (875) | (57,502) | (169,182) | ||
| Net expenditure | |||||
| Net expenditure before other |
(56,627) | (875) | (57,502) | (169,182) | |
| gains/(losses) | |||||
| Other Gains | |||||
| Net movement in funds |
(56,627) | (875) | (57,502) | (169,182) | |
| Reconciliation offunds: |
|||||
| Total funds brought forward | 1,754,885 | 16,129 | 1,771,014 | 1,940,196 | |
| Total funds carried forward | 1,698,258 | 15,254 | 1,713,512 | 1,771,014 |