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2022-08-31-accounts

Company registration number: 00751458 Charity registration number: 306231

Dorset Rural Music School Limited

known as

Dorset Rural Music School (A company limited by guarantee) Annual Report and Financial Statements for the Year Ended 31 August 2022

Harney & Co Limited Registered Auditor and Chartered Certified Accountant 21 Market Place Blandford Forum Dorset DT11 7AF

Doc ID: 58b192c5029457fef77a43d56f524a5ef21e4b65

Dorset Rural Music School Limited

known as Dorset Rural Music School

Contents

Reference and Administrative Details 1
Trustees' Report 2 to 6
Independent Examiner's Report 7
Statement of Financial Activities 8
Balance Sheet 9
Notes to the Financial Statements 10 to 22

Doc ID: 58b192c5029457fef77a43d56f524a5ef21e4b65

Dorset Rural Music School Limited known as Dorset Rural Music School Reference and Administrative Details Trustees Mrs J Newall, Chairman Mr J H C Privett, Treasurer Miss A Ecclestone Mr J Goodman Mr M W Warren Dr R C Hall E R Bray Miss L J Martin Senior Management / Leadership Ms E Marsden, Musical Director Team Charity Registration Number 306231 Company Registration Number 00751458 The charity is incorporated in England and Wales. Registered Office The Music School The Close Blandford Forum Dorset DT11 7HA Independent Examiner Harney & Co Limited Registered Auditor and Chartered Certified Accountant 21 Market Place Blandford Forum Dorset DT11 7AF

Page 1

Doc ID: 58b192c5029457fef77a43d56f524a5ef21e4b65

Dorset Rural Music School Limited

known as Dorset Rural Music School

Trustees' Report

The trustees, who are directors for the purposes of company law, present the annual report together with the financial statements of the charitable company for the year ended 31 August 2022.

Objectives and activities

Objects and aims

The purposes of the Charity are:

We aim to promote and encourage musical education and facilities for students of all ages and abilities at our own premises, in local schools, colleges and venues.

Objectives, strategies and activities

The strategies employed to achieve the charity's aims and objectives are to:

Fundraising disclosures

The School relies upon its income from tuition fees and other charges to cover its operating activities. In order to make this affordable and accessible to the community it has been the School's careful policy to reduce operating costs where at all possible.

Public benefit

In planning our activities for the year, the trustees endeavour to make accessible and encourage all within our community. We offer a standard package of lessons but these can be tailored to meet specific needs. Every student is offered a free half-hour 'taster' lesson.

The school has also diversified to provide musical appreciation classes, other sessions and concerts in several towns within Dorset as well as other musical events involving past and present students as well as others.

The trustees confirm that they have complied with the requirements of section 17 of the Charities Act 2011 to have due regard to the public benefit guidance published by the Charity Commission for England and Wales.

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Dorset Rural Music School Limited

known as Dorset Rural Music School

Trustees' Report

Achievements and performance

During the year the trustees have continued to provide musical education and there have been encouraging indications of a modest increase in demand from both schools, the young and adults. Other events undertaken have included music appreciation classes, concerts, singing and orchestral groups and other events with a view to raising funds and publicising the charity's activities. Additionally the Music School is a public examination centre for the Associated Board of the Royal Schools of Music (ABRSM), and also for Tinity College London (TCL).

A successful application resulted in a most welcome Dorset Business Resilience Grant which enabled the charity to employ the services of two experts in the field of business management and developmnet and communications. Among other befefits this has enabled the development of contacts with other organisations and individuals and publicising the charity's offered benefits. Efforts continue to generate other sources of income and the charity benefits from a number of regular donors and supporters.

Financial review

Financially the year has seen the beginning of a period of recovery from the enforced restrictions of the previous two years. A significant deficit was not unexpected and urgent steps as mentioned elsewhere are being taken to reverse this position for the future.

Policy on reserves

The School retains modest reserves in order to cover the costs of any unplanned expenditure. The reserves are invested in COIF Charities Investment Funds with a total market value as at the balance sheet date of £22,743 (2021 £23,838). The school has unrestricted access to these funds and the annual income thereon is utilised for its charitable purposes.

Funds in deficit

The School had no reserves in deficit.

Plans for future periods

Aims and key objectives for future periods

The trustees propose to further publicise the charity's activiites with a view to continuing to increase its local presence as a provider of musical education for all ages, including not only teaching but, in other activities such as musical appreciation classes, concerts and other fund rasing events, singing and orchestral groups. As a public examination centre there is potential for an increase in the number of exam days which could provide a useful source of additional income.

Structure, governance and management

Nature of governing document

Dorset Rural Music School is a company limited by guarantee governed by its Memorandum and Articles of Association dated 26th February 1963. It is registered as a charity with the Charity Commission.

Page 3

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Dorset Rural Music School Limited

known as Dorset Rural Music School

Trustees' Report

Recruitment and appointment of trustees

It is a requirement that the Board of Governors shall have full discretion as to the admission of any person wishing to become a trustee on the Board upon written request.

Induction and training of trustees

The existing Trustees ensure that new members are given sufficient training and gain enough knowledge to understand the nature of the charity to fully comply with its aims and objectives.

Arrangements for setting key management personnel remuneration

The key management to Dorset Rural Music School, other than the Trustees, are its Musical Director and Administrative Clerk, and their rates of pay are reviewed by the Trustees, whom themselves receive no remuneration.

Organisational structure

The Board of Governors, administers the charity and have appointed the Musical Director to be responsible for the day to day activities of the Charity and for managing the other staff. The Musical Director is also responsible for reporting to a smaller group of Trustees, a sub committee, primarily dealing with the financial affairs of the Charity, who meet on a regular basis.

Major risks and management of those risks

The main concern of the Charity is the noted diminution in demand for musical education particularly among the younger generation which seems to be part of a national pattern.

In order to counteract this trend the Charity continues to review ways in which its activities can be diversified to encourage a wider interest in the practice of music.

Financial instruments

Objectives and policies

The charity's activities expose it to a number of financial risks including credit risk, cash flow risk and liquidity risk.

Cash flow risk

Interest bearing assets and liabilities are held at fixed rate to ensure certainty of cash flows.

Page 4

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Dorset Rural Music School Limited

known as Dorset Rural Music School

Trustees' Report

Credit risk

The charity’s principal financial assets are bank balances and cash, trade and other receivables, and investments. The charity’s credit risk is primarily attributable to its trade receivables. The amounts presented in the balance sheet are net of allowances for doubtful receivables. An allowance for impairment is made where there is an identified loss event which, based on previous experience, is evidence of a reduction in the recoverability of the cash flows.

The credit risk on liquid funds and derivative financial instruments is limited because the counterparties are banks with high credit-ratings assigned by international credit-rating agencies. The charity has no significant concentration of credit risk, with exposure spread over a large number of counterparties and customers.

Liquidity risk

In order to maintain liquidity to ensure that sufficient funds are available for ongoing operations and future developments, the charity uses a mixture of long-term and short-term debt finance. Further details regarding liquidity risk can be found in the Statement of accounting policies in the financial statements.

Funds held as custodian trustee on behalf of others

The Charity administers a COIF Charities Investment Fund - Income Units at a market value of £2,771 (2021 £2,905) at the balance sheet date.

This fund is known as 'The Fanny Kindersley Trust' and upon her death Fanny Kindersley, who formed the Dorset Choral Association, left a legacy in order that a memorial trust could be formed and adminstered by the Dorset Choral Association. The income from that trust fund was to be accumulated and awarded in every third year to a promising musician resident in the County of Dorset for the purpose of assisting in his or her musical education or advancement. Since the demise of the Dorset Choral Association in 1976 the administration of this fund has passed to the Dorset Rural Music School.

The capital is invested in a separate fund entitled 'The Fanny Kindersley Trust' and is not reflected on the Balance Sheet as part of the School's Funds. However, the Trustees who adminster this investment have voted the income thereon be donated to the Dorset Rural Music School in furtherance of its objectives.

Statement of trustees' responsibilities

The trustees (who are also the directors of Dorset Rural Music School Limited for the purposes of company law) are responsible for preparing the trustees' report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland".

Company law requires the trustees to prepare financial statements for each financial year. Under company law the trustees must not approve the financial statements unless they are satisfied that they 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 its income and expenditure, of the charitable company for that period. In preparing these financial statements, the trustees are required to:

Page 5

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Dorset Rural Music School Limited

known as Dorset Rural Music School

Trustees' Report

The trustees are responsible for keeping proper accounting records that can disclose with reasonable accuracy at any time the financial position of the charitable company and 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.

The trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company's website. Legislation governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

The annual report was approved by the trustees of the charity on 12 April 2023 and signed on its behalf by:

......................................... Mrs J Newall Trustee

Page 6

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Dorset Rural Music School Limited

known as Dorset Rural Music School

Independent Examiner's Report to the trustees of Dorset Rural Music School Limited ('the Company')

I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 August 2022.

Responsibilities and basis of report

As the charity’s trustees of Dorset Rural Music School Limited (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 Dorset Rural Music School Limited 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 the 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:

  1. accounting records were not kept in respect of Dorset Rural Music School Limited as required by section 386 of the 2006 Act; or

  2. the accounts do not accord with those records; or

  3. 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

  4. 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.

...................................... Mrs S A Harney Registered Auditor and Chartered Certified Accountant

21 Market Place Blandford Forum Dorset DT11 7AF

12 April 2023

Page 7

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Dorset Rural Music School Limited

known as Dorset Rural Music School

Statement of Financial Activities for the Year Ended 31 August 2022 (Including Income and Expenditure Account and Statement of Total Recognised Gains and Losses)

Note
Income and Endowments from:
Donations and legacies
3
Charitable activities
4
Other trading activities
5
Investment income
6
Other income
7
Total income
Expenditure on:
Raising funds
8
Charitable activities
9
Total expenditure
Gains/losses on investment
assets
Net (expenditure)/income
Net movement in funds
Reconciliation of funds
Total funds brought forward
Total funds carried forward
23		 Unrestricted
£
7,542
45,159
5,770
640
50
59,161
(4,450)
(75,482)
(79,932)
(1,095)
(21,866)
(21,866)
47,709
25,843		 Restricted
£
32,250
-
-
-
-
32,250
-
(23,311)
(23,311)
-
8,939
8,939
-
8,939		 2022
£
39,792
45,159
5,770
640
50
91,411
(4,450)
(98,793)
(103,243)
(1,095)
(12,927)
(12,927)
47,709
34,782		 2021
£
30,585
31,382
4,929
620
-
67,516
(4,675)
(58,254)
(62,929)
3,587
8,174
8,174
39,535
47,709

All of the charity's activities derive from continuing operations during the above two periods.

A summary of income, expediture and other recognised gains/losses is shown in note 23.

The notes on pages 10 to 22 form an integral part of these financial statements. Page 8

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Dorset Rural Music School Limited

known as Dorset Rural Music School

(Registration number: 00751458) Balance Sheet as at 31 August 2022

Note
Fixed assets
Tangible assets
17
Investments
18
Current assets
Stocks
19
Debtors
20
Cash at bank and in hand
21
Creditors: Amounts falling due within one year
22
Net current (liabilities)/assets
Net assets
Funds of the charity:
Restricted income funds
Restricted funds
Unrestricted income funds
Unrestricted funds
Total funds
23		 2022
£
13,183
22,743
35,926
6,345
7,181
5,280
18,806
(19,950)
(1,144)
34,782
8,939
25,843
34,782		 2021
£
13,011
23,838
36,849
6,454
2,826
16,822
26,102
(15,242)
10,860
47,709
-
47,709
47,709

For the financial year ending 31 August 2022 the charity was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements on pages 8 to 22 were approved by the trustees, and authorised for issue on 12 April 2023 and signed on their behalf by:

......................................... Mr J H C Privett Trustee

The notes on pages 10 to 22 form an integral part of these financial statements. Page 9

Doc ID: 58b192c5029457fef77a43d56f524a5ef21e4b65

Dorset Rural Music School Limited

known as Dorset Rural Music School

Notes to the Financial Statements for the Year Ended 31 August 2022

1 Charity status

The charity is limited by guarantee, incorporated in England and Wales, and consequently does not have share capital. Each of the trustees is liable to contribute an amount not exceeding £1 towards the assets of the charity in the event of liquidation.

2 Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

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 (FRS 102)) (issued in October 2019) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.

Basis of preparation

Dorset Rural Music School Limited meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy notes.

Going concern

The trustees consider that there are no material uncertainties about the charity's ability to continue as a going concern nor any significant areas of uncertainty that affect the carrying value of assets held by the charity.

Exemption from preparing a cash flow statement

The charity opted to early adopt Bulletin 1 published on 2 February 2016 and have therefore not included a cash flow statement in these financial statements.

Income and endowments

All income is recognised once the charity has entitlement to the income, it is probable that the income will be received and the amount of the income receivable can be measured reliably.

Donations and legacies

Donations are recognised when the charity has been notified in writing of both the amount and settlement date. In the event that a donation is subject to conditions that require a level of performance by the charity before the charity is entitled to the funds, the income is deferred and not recognised until either those conditions are fully met, or the fulfilment of those conditions is wholly within the control of the charity and it is probable that these conditions will be fulfilled in the reporting period.

Page 10

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Dorset Rural Music School Limited

known as Dorset Rural Music School

Notes to the Financial Statements for the Year Ended 31 August 2022

Grants receivable

Grants are recognised when the charity has an entitlement to the funds and any conditions linked to the grants have been met. Where performance conditions are attached to the grant and are yet to be met, the income is recognised as a liability and included on the balance sheet as deferred income to be released.

Expenditure

All expenditure is recognised once there is a legal or constructive obligation to that expenditure, it is probable settlement is required and the amount can be measured reliably. All costs are allocated to the applicable expenditure heading that aggregate similar costs to that category. Where costs cannot be directly attributed to particular headings they have been allocated on a basis consistent with the use of resources, with central staff costs allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use. Other support costs are allocated based on the spread of staff costs.

All resources expended are inclusive of irrecoverable VAT.

Raising funds

These are costs incurred in attracting voluntary income, the management of investments and those incurred in trading activities that raise funds.

Charitable activities

Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.

Support costs

Support costs include central functions and have been allocated to activity cost categories on a basis consistent with the use of resources, for example, allocating property costs by floor areas, or per capita, staff costs by the time spent and other costs by their usage.

Governance costs

These include the costs attributable to the charity’s compliance with constitutional and statutory requirements, including audit, strategic management and trustees meetings and reimbursed expenses.

Government grants

Government grants are recognised based on the accrual model and are measured at the fair value of the asset received or receivable. Grants are classified as relating either to revenue or to assets. Grants relating to revenue are recognised in income over the period in which the related costs are recognised. Grants relating to assets are recognised over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income.

Irrecoverable VAT

Irrecoverable VAT is charged against the category of resources expended for which it was incurred.

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Dorset Rural Music School Limited

known as Dorset Rural Music School

Notes to the Financial Statements for the Year Ended 31 August 2022

Taxation

The charity is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes.

Tangible fixed assets

Individual fixed assets are initially recorded at cost, and thereafter cost less any subsequent depreciation and/or impairment.

Depreciation and amortisation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class Depreciation method and rate
Land and buildings 0%
Music for library 0%
Musical instruments 10% reducing balance
Fixtures and fittings 10% reducing balance
Office equipment 10% reducing balance

Fixed asset investments

Fixed asset investments, other than programme related investments, are included at market value at the balance sheet date. Realised gains and losses on investments are calculated as the difference between sales proceeds and their market value at the start of the year, or their subsequent cost, and are charged or credited to the Statement of Financial Activities in the period of disposal.

Unrealised gains and losses represent the movement in market values during the year and are credited or charged to the Statement of Financial Activities based on the market value at the year end.

Stock

Stock is valued at the lower of cost and estimated selling price less costs to complete and sell, after due regard for obsolete and slow moving stocks. Cost is determined using the first-in, first-out (FIFO).

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the charity will not be able to collect all amounts due according to the original terms of the receivables.

Page 12

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Dorset Rural Music School Limited

known as Dorset Rural Music School

Notes to the Financial Statements for the Year Ended 31 August 2022

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the charity does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Fund structure

Unrestricted income funds are general funds that are available for use at the trustees discretion in furtherance of the objectives of the charity.

Restricted income funds are those donated for use in a particular area or for specific purposes, the use of which is restricted to that area or purpose.

Financial instruments

Classification

Financial assets and financial liabilities are recognised when the charity becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the charity after deducting all of its liabilities.

Recognition and measurement

All financial assets and liabilities are initially measured at transaction price (including transaction costs).

Financial assets and liabilities are only offset in the statement of financial position when, and only when there exists a legally enforceable right to set off the recognised amounts and the charity intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Financial assets are derecognised when and only when a) the contractual rights to the cash flows from the financial asset expire or are settled, b) the charity transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or c) the charity, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Financial liabilities are derecognised only when the obligation specified in the contract is discharged, cancelled or expires.

Page 13

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Dorset Rural Music School Limited

known as Dorset Rural Music School

Notes to the Financial Statements for the Year Ended 31 August 2022

Investments

Investments in non-convertible preference shares and non-puttable ordinary or preference shares (where shares are publicly traded or their fair value is reliably measurable) are measured at fair value through profit or loss. Where fair value cannot be measured reliably, investments are measured at cost less impairment.

Fair value measurement

The best evidence of fair value is a quoted price for an identical asset in an active market. When quoted prices are unavailable, the price of a recent transaction for an identical asset provides evidence of fair value as long as there has not been a significant change in economic circumstances or a significant lapse of time since the transaction took place. If the market is not active and recent transactions of an identical asset on their own are not a good estimate of fair value, the fair value is estimated by using a valuation technique.

3 Income from donations and legacies

Donations and legacies;
Donations from individuals
Gift aid reclaimed
Grants, including capital grants;
Government grants
Grants from other charities
Donations from community groups
Regular giving and capital donations
Total for 2022
Total for 2021		 Unrestricted
funds
General
£
1,732
769
2,667
-
78
2,296
7,542
30,585		 Restricted
funds
£
-
-
29,500
2,750
-
-
32,250
-		 Total
funds
£
1,732
769
32,167
2,750
78
2,296
39,792
30,585

4 Income from charitable activities

The study and practice of music
Total for 2022
Total for 2021		 Unrestricted
funds
General
£
45,159
45,159
31,382		 Total
funds
£
45,159
45,159
31,382

Page 14

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Dorset Rural Music School Limited

known as Dorset Rural Music School

Notes to the Financial Statements for the Year Ended 31 August 2022

5 Income from other trading activities

Trading income;
Sales of goods and services
Events income;
Other events income
Total for 2022
Total for 2021		 Unrestricted
funds
General
£
5,518
252
5,770
4,929		 Total
funds
£
5,518
252
5,770
4,929

6 Investment income

Other income from fixed asset investments
Total for 2022
Total for 2021		 Unrestricted
funds
General
£
640
640
620		 Total
funds
£
640
640
620

7 Other income

Fees and supplies
Total for 2022		 Unrestricted
funds
General
£
50
50		 Total
funds
£
50
50

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Dorset Rural Music School Limited

known as Dorset Rural Music School

Notes to the Financial Statements for the Year Ended 31 August 2022

8 Expenditure on raising funds

a) Costs of trading activities

Note
Costs of goods sold
Events and conferences
Total for 2022
Total for 2021		 Unrestricted
funds
General
£
4,425
25
4,450
4,675		 Total
funds
£
4,425
25
4,450
4,675

9 Expenditure on charitable activities

Note
The study and practice of music
Depreciation, amortisation and other
similar costs
Staff costs
Allocated support costs
10
Governance costs
10
Total for 2022
Total for 2021		 Unrestricted
funds
General
£
37,877
719
28,901
3,952
4,033
75,482
58,254		 Restricted
funds
£
-
-
-
23,311
-
23,311
-		 Total
funds
£
37,877
719
28,901
27,263
4,033
98,793
58,254

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Dorset Rural Music School Limited

known as Dorset Rural Music School

Notes to the Financial Statements for the Year Ended 31 August 2022

10 Analysis of governance and support costs

Charitable activities expenditure

Staff welfare costs
Repairs and renewals
Telephone and internet
Computer software and maintenance costs
Printing, postage and stationery
Cleaning
Consultancy
Bank Charges
Staff welfare costs
Repairs and renewals
Telephone and internet
Computer software and maintenance costs
Printing, postage and stationery
Cleaning
Bank Charges		 Unrestricted
funds
General
£
14
89
2,051
423
225
945
-
205
3,952		 Restricted
funds
£
-
-
-
2,151
-
-
21,160
-
23,311
Unrestricted
funds
General
£
117
46
937
487
84
1,168
143
2,982		 Total
2022
£
14
89
2,051
2,574
225
945
21,160
205
27,263
Total
2021
£
117
46
937
487
84
1,168
143
2,982

Governance costs

Independent examiner fees
Examination of the financial statements
Other governance costs
Total for 2022
Total for 2021		 Unrestricted
funds
General
£
4,020
13
4,033
3,506		 Total
funds
£
4,020
13
4,033
3,506

Page 17

Doc ID: 58b192c5029457fef77a43d56f524a5ef21e4b65

Dorset Rural Music School Limited

known as Dorset Rural Music School

Notes to the Financial Statements for the Year Ended 31 August 2022

11 Government grants

The charity has been in receipt of two Dorset Council Grants during the year, a Hospitality Grant and a Business Recovery Grant. In 2021 the charity received the Government Job Retention Scheme Grant. The amount of grants recognised in the financial statements was £32,167 (2021 - £21,848).

12 Net incoming/outgoing resources

Net (outgoing)/incoming resources for the year include:

Depreciation of fixed assets 2022
£
719		 2021
£
700

13 Trustees remuneration and expenses

No trustees, nor any persons connected with them, have received any remuneration from the charity during the year.

No trustees have received any reimbursed expenses or any other benefits from the charity during the year.

14 Staff costs

The aggregate payroll costs were as follows:

Staff costs during the year were:
Wages and salaries		 2022
£
28,901		 2021
£
32,619

The monthly average number of persons (including senior management / leadership team) employed by the charity during the year expressed as full time equivalents was as follows:

Musical director
Office administrator
Music teachers		 2022
No
1
1
1
3		 2021
No
1
1
1
3

No employee received emoluments of more than £60,000 during the year.

Page 18

Doc ID: 58b192c5029457fef77a43d56f524a5ef21e4b65

Dorset Rural Music School Limited

known as Dorset Rural Music School

Notes to the Financial Statements for the Year Ended 31 August 2022

15 Independent examiner's remuneration

15 Independent examiner's remuneration
2022 2021
£ £
Examination of the financial statements 4,020 3,293

16 Taxation

The charity is a registered charity and is therefore exempt from taxation.

17 Tangible fixed assets

Cost
At 1 September 2021
Additions
At 31 August 2022
Depreciation
At 1 September 2021
Charge for the year
At 31 August 2022
Net book value
At 31 August 2022
At 31 August 2021		 Land and
buildings
£
5,563
-
5,563
-
-
-
5,563
5,563		 Instruments
and equipment
£
34,461
891
35,352
27,013
719
27,732
7,620
7,448		 Total
£
40,024
891
40,915
27,013
719
27,732
13,183
13,011

18 Fixed asset investments

18 Fixed asset investments
2022 2021
£ £
Unlisted investments 22,743 23,838

Page 19

Doc ID: 58b192c5029457fef77a43d56f524a5ef21e4b65

Dorset Rural Music School Limited

known as Dorset Rural Music School

Notes to the Financial Statements for the Year Ended 31 August 2022

Cost or Valuation
At 1 September 2021
Revaluation
At 31 August 2022
Net book value
At 31 August 2022
At 31 August 2021
19 Stock
Stocks
20 Debtors
Trade debtors
Prepayments
Other debtors
21 Cash and cash equivalents
Cash on hand
Cash at bank		 2022
£
6,345
2022
£
2,194
1,167
3,820
7,181
2022
£
2
5,278
5,280		 Total
£
23,838
(1,095)
22,743
22,743
23,838
2021
£
6,454
2021
£
1,153
805
868
2,826
2021
£
12
16,810
16,822

Page 20

Doc ID: 58b192c5029457fef77a43d56f524a5ef21e4b65

Dorset Rural Music School Limited

known as Dorset Rural Music School

Notes to the Financial Statements for the Year Ended 31 August 2022

22 Creditors: amounts falling due within one year

Trade creditors
Other loans
Trustees current accounts
Other creditors
Accruals		 2022
£
7
12,000
242
3,661
4,040
19,950		 2021
£
-
12,000
242
-
3,000
15,242

Other loans

Other loans comprise an interest free loan amounting to £12,000 from Dr R Hall to the School in furtherance of its charitable activities. The loan is repayable on demand. Dr R Hall was employed as Musical Director until his retirement from this position in December 2021 when he was appointed a Trustee of the Charity.

23 Funds

Unrestricted funds
General
General Funds
Restricted funds
Business Resilience Fund
D'Oyly Carte Fund
Total funds
Unrestricted funds
General		 Balance at 1
September
2021
£
47,709
-
-
-
47,709
Balance at 1
September
2020
£
39,535		 Incoming
resources
£
59,161
29,500
2,750
32,250
91,411
Incoming
resources
£
67,516		 Resources
expended
£
(79,932)
(23,311)
-
(23,311)
(103,243)
Resources
expended
£
(62,929)		 Other
recognised
gains/(losses)
£
(1,095)
-
-
-
(1,095)
Other
recognised
gains/(losses)
£
3,587		 Balance at
31 August
2022
£
25,843
6,189
2,750
8,939
34,782
Balance at
31 August
2021
£
47,709

The general fund of the charity includes the sum of £9,196 (2021 £10,291) in respect of the revaluation of investments.

Page 21

Doc ID: 58b192c5029457fef77a43d56f524a5ef21e4b65

Dorset Rural Music School Limited

known as Dorset Rural Music School

Notes to the Financial Statements for the Year Ended 31 August 2022

The specific purposes for which the funds are to be applied are as follows:

Restricted Funds

The Business Resilience Fund received from Dorset Council has enabled the charity to actively seek professional advice and implement new strategies to promote and move the school forward in our ever changing society.

The D'Oyly Carte Fund has been provided to enable the charity to deliver a Rural Village Schools Choir Project to be delivered in the Autumn of 2023.

24 Related party transactions

During the year the charity made the following related party transactions:

Mrs J Newall (A trustee of the charity) At the balance sheet date the amount due to Mrs J Newall was £242 (2021 - £242).

Page 22

Doc ID: 58b192c5029457fef77a43d56f524a5ef21e4b65

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