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
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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:
- to provide an organisation for the teaching of music;
- to provide a music centre for students of all ages living in the villages and towns of Dorset, and
- to promote the study and practice of music, especially in its social and co-operative forms among such students.
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:
- offer tuition in all standard instruments, singing and in the theory of music;
- to teach students at all levels and of all ages;
- to teach a wide variety of musical styles;
- to prepare candidates for exams or play for pleasure;
- to offer the use of a music library and shop, and
- to offer a range of musical instuments for short or long-term hire.
## _**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.
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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.
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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:
- select suitable accounting policies and apply them consistently;
- observe the methods and principles in the Charities SORP;
- make judgements and estimates that are reasonable and prudent;
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## **Dorset Rural Music School Limited**
## **known as Dorset Rural Music School**
## **Trustees' Report**
- state whether applicable accounting standards, comprising FRS 102 have been followed, subject to any material departures disclosed and explained in the financial statements; and
- 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 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
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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
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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 members have not required the charity to obtain an audit of its accounts for the year in question in accordance with section 476; and
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
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
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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**
## **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.
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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.
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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.
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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|
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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|
Page 15
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**
## **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|
Page 16
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**
## **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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