2021-12-31-accounts - The Royal School Of Church Music

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								Total	Total
					Unrestricted	Restricted	Endowment	Funds	Funds
					Funds	Funds	Funds	2021	2020
					E	E	E	E	E
Income and Endowments			from:
Donations and legacies				2a	218,869	67,500		286,369	262,609
Income from charitable		activities:
Membership Income					513,583			513,583	539,221
Education &Outreach					15,643			15,643	15,449
Publication sales	&royalties				208,283			208,283	203,662
Area committees					9,459			9,459	22,255
Investment Income				2b	7,200	23,483		30,683	29,005
Other Income				2c	28,897			28,897	27,455
Total Income					1,001,934	90,983		1,092,917	1,099,656
Expenditure on:
Raising funds				3	129,677			129,677	105,280
Charitable activities
Membership services					259,055			259,055	259,932
Education &Outreach					232,262	61,500		293,762	314,559
Publications					228,639			228,639	335,347
Area committees					280,184			280,184	267,609
Total expenditure					1,129,817	61,500		1,191,317	1,282,727
Net income/(expenditure)					(127,883)	29,483		(98,400)	(183,071)
Transfers between	funds				2,516	(2,516)
Net Gains/(losses) on investments				10	25,983	35,693	51,518	113,194	11,508
Net movement in	funds				(99,384)	62,660	51,518	14,794	(171,563)
Reconciliation offunds:
Total funds brought	forward			15	423,354	438,177	424,718	1,286,249	1,457,812
Total funds carried	forward			15	323,970	500,837	476,236	1,301,043	1,286,249

			Notes	2021	2020
				f	f
Fixed Assets
Intangible assets			8	34,053	61,923
Tangible assets			9	28,284	17,516
Investments			10	933,187	973,218
Total fixed assets				995,524	1,052,657
Current Assets
Stock			11	152,921	138,936
Debtors			12	98,455	106,559
Areas' cash at bank	and	in hand		19,782	97,062
Cash at bank and in	hand			164,114	104,315
Total current assets				435,272	446,872
Liabilities
Creditors: Amounts	falling due within one year		13	129,753	213,280
Net current assets				305,519	233,592
Total net assets				1,301,043	1,286,249
The funds ofthe charity:
Endowment funds			15,16	476,236	424,718
Restricted Funds			15,17	500,837	438,177
Unrestricted Funds			15,18	323,970	423,354
Total Charity Funds				1,301,043	1,286,249

							Notes	Notes	2021	2020
									f	f
Cash flows from operating activities
Cash generated from operations								CF1	(137,425)	63,121
Net cash provided	by (used in)	operating				activities			(137,425)	63,121
Cash flows from investing activities:
Purchase of intangible fixed assets									(2,327)	(18,431)
Purchase of tangible	fixed assets								(21,123)	(11,343)
Purchase of fixed asset investments									(234,722)	(241,388)
Sale of fixed asset investments									377,385	58,388
Cash withdrawn from investment		portfolio							(946)	(6,982)
Interest received									(352)	(354)
Investment dividends	received								2,030	(4,157)
Net cash provided	by (used in)	investing			activities				119,945	(224,267)
Change in cash and	cash equivalents		in	the reporting			period		(17,480)	(161,146)
Cash and cash equivalents at the beginning						ofthe reporting
period									201,377	362,523
Cash and cash equivalents at the end			ofthe reporting				period	CF2	183,897	201,377
CF1.Reconciliation	of Net Income to		Net		Cash Flow from Operating			Activities
									2021	2020
									f	f.
Net movement in funds for the reporting				period
(as per the statement	offinancial	activities)							14,794	(171,563)
Depreciation and amortisation charges									40,553	44,728
Gain on investments									(101,686)	106,941
interest received									(1,678)	4,511
Decrease in debtors									8,104	(2,427)
Increase / (Decrease)	in creditors								(83,527)	54,923
(Increase) / Decrease	in stocks								(13,985)
Net cash provided	by (used in)	operating			activities				(137,425)	37,113
CF2.Analysis of cash and cash equivalents									2021	2020
										f
Cash in hand									183,896	201,377
Total cash and cash	equivalents								183,896	201,377

mic life of each asset, which is considered	to be:
Major software packages	4 years
Other computer hardware 8software	3 years
Other furniture, plant Btequipment	5 years
Copyrights 8publication rights	3-5 years
Website Btwebshop	3-5 years


2.	Incoming	resources		2021	2020
				E	E
a)	Donations	and	legacies
	Grants and	donations		131,840	144,154
	Affiliate fundraising			33,942	16,078
	Friends income			16,208	2,347
	Legacies			104,379	100,030
				286,369	262,609
b)	Investment	income
	Listed investments			30,683	28,653
	Interest on	cash deposits			352
				30,683	29,005
c)	Other incoming		resources
	Commission			444	1,759
	Sundry income			28,453	25,696
				28,897	27,455

				Direct	Support	Total	Total
				costs	Costs	2021	2020
				E	E	E	E
Costs of Generating		Funds
Fundraising				102,097	18,782	120,879	100,031
Investment	management			8,798		8,798	5,249
Expenditure	on Charitable		Activities
Membership				231,059	27,996	259,055	259,932
Education	and development			243,388	50,374	293,762	314,559
Publications				208,638	20,001	228,639	335,347
Area Committees				227,475	52,709	280,184	267,609
				1,021,455	169,862	1,191,317	1,282,727

fundraising	on the	basis ofstaff cost	s. They are ma	de up as foll	ows:
		Fundraising	Membership	Education	Publication	Areas	2021	2020
		E			E	E	E	E
Office costs		15,018	22,386	40,280	15,993	42,147	135,824	149,407
Professional	fees	926	1,380	2,484	986	2,599	8,375	5,092
Finance costs		188	280	504	200	527	1,699	606
Depreciation		1,022	1,524	2,742	1,089	2,869	9,246	9,257
Amortisation		347	517	930	369	973	3,136	5,306
Governance		1,281	1,909	3,434	1,364	3,594	11,582	10,627
		18,782	27,996	50,374	20,001	52,709	169,862	180,295

4.Governance Costs
				2021	2020
				f	f
Governance meetings	and expenses			3,017	3,063
Auditors fees - audit				4,934	4,734
Auditors fees - non-audit services				3,630	2,830
				11,581	10,627
5.Net income / (expenditure		for year)
				2021	2020
This is stated after charging:				f	f
Depreciation				10,355	8,911
Amortisation				30,197	35,817
Auditors remuneration	- audit			4,934	4,734
Auditors remuneration	- accountancy		services	3,630	2,830

						2021	2020
Total staff	emoluments	for the year	were as follows:			f	f
Gross salaries and wages						584,964	584,131
Social security						40,669	41,702
Employers	contributions	to defined	contribution	pension	schemes	27,631	28,757
						653,264	654,590


8.Intangible fixed assets			Copyrights 8t	Website 8t
			publication rights f	Webshop f	Total f
Cost
As at 1 January 2021			120,943	48,282	169,225
Additions			2,327		2,327
Disposals
As at 31 December 2021			123,270	48,282	171,552
Amortisation
As at 1 January 2021			84,230	23,072	107,302
Charge for the year			21,012	9,185	30,197
Elimination on disposal
As at 31 December 2021			105,242	32,257	137,499
Net Book Value
As at 31 December 2021			18,028	16,025	34,053
As at 31 December 2020			36,713	25,210	61,923
9.Tangible fixed assets
	Furniture	8t	Computer	Computer
	Fixtures		Software	Hardware	Total
			f	f	f
Cost
As at 1 January 2021	92,133		66,463	75,497	234,093
Additions		537	18,147	2,439	21,123
Disposals
As at 31 December 2021	92,670		84,610	77936	255,216
Depreciation
As at 1 January 2021	86,146		66,217	64,214	216,577
Charge for the year	2,412		2,464	5,479	10,355
Elimination on disposal
As at 31 December 2021	88,558		68,681	69,693	226,932
Net Book Value
As at 31 December 2021	4,112		15,929	8,243	28,284
As at 31 December 2020	5,987		246	11,283	17,516

10.Fixed asse	ts inv	e	stme	nts
						2021	2020
						f
Market value at 1 January				2020		973,218	890,177
Additions at cost						223,214	122,939
Disposals at carrying			value			(377,385)	(58,388)
Increase/(decrease)		in cash				946	6,982
Net gain/(loss)	on revaluation					113,194	11,508
Market value at 31 December					2020	933,187	973,218
Investments at	market		value		comprised:
UK listed	investments					402,054	452,560
Overseas	listed		investments			510,266	500,738
Other investments
Cash on	deposit					20,867	19,920
						933,187	973,218
Historical cost	as at	31 December 2020
Listed investments						719,436	732,523
Cash with investments					manager	20,867	19,921
						740,303	752,444
11.Stock
						2021	2020
						f	f.
Goods for resale						152,921	138,936
						152,921	138,936
12.Debtors
						2021	2020
						f	f
Trade debtors						68,454	76,001
Other debtors						17,633	25,601
Prepayments and accrued				income		12,368	4,957
						98,455	106,559
13.Creditors	-amounts			falling due within one year
						2021	2020
						f	f
Trade creditors						21,847	34,016
Other creditors						33,541	107,284
Accruals						16,693	8,947
Deferred income						57,672	63,033
						129,753	213,280

			Friends	Membership	Courses	Other Income	Total
			E	E	E	E	E
Balance	Brought Forward		85	53,516	7,994	1,438	63,033
Amount	released to incoming	resource.	(85)	(53,516)	(7,994)	(1,438)	(63,033)
Amount	deferred in the year		0	51,050	5,463	1,159	57,672
Balance Carried Forward			0	51,050	5,463	1,159	57,672
15.Analysis of net assets between funds
				Endowment	Restricted	Unrestricted
Fund balances are represented		by:		Funds	Funds	Funds	Total
				E	E	E	E
Intangible	fixed assets					34,053	34,053
Tangible	fixed assets					28,284	28,284
Fixed asset investments				476,236	277,468	179,483	933,187
Net current assets					223,369	82,151	305,519
Tota I net	assets			476,236	500,837	323,970	1,301,043
Analysis	ofnet assets between funds - previous			year
				Endowment	Restricted	Unrestricted
Fund balances are represented		by:		Funds	Funds	Funds	Total
				f.	E	E	E
Intangible	fixed assets					61,923	61,923
Tangible	fixed assets					17,516	17,516
Fixed asset investments				424,718	278,969	269,531	973,218
Net current assets					159,208	74,384	233,592
Total net	assets			424,718	438,177	423,354	1,286,249

			Fund				Gains	Fund
			B/Fwd	Income	Expenditure	Transfers	8t Losses	C/Fwd
			f	f	f	f	f	f
Overseas development fund			33,010				4,004	37,014
(For overseas travel and development)
Hymns Ancient &Modern Lectureship		Fund	33,185				4,026	37,211
(To help pay for lecturers on RSCM courses)
Harold Smart Competition Fund			12,041				1,460	13,501
(To fund an annual competition for composers)
To provide grants to students attending		RSCM	courses:
Hubert Crook and other bursary funds			171,696				20,827	192,523
Wiles Family Bequest			94,768				11,495	106,263
The Minsall-Jones Bequest			61,553				7,466	69,019
Derek Marsden Fund for educational	bursaries		18,465				2,240	20,705
			424,718				51,518	476,236
Endowment Funds - Previous year
			Fund				Gains	Fund
			B/Fwd f	Income f	Expenditure f	Transfers f	8t Losses f	C/Fwd f
Overseas development fund			32,624				386	33,010
(For overseas travel and development)
Hymns Ancient BcModern Lectureship		Fund	32,797				388	33,185
(To help pay for lecturers on RSCM courses)
Harold Smart Competition Fund			11,900				141	12,041
(To fund an annual competition for composers)
To provide grants to students attending		RSCM	courses:
Hubert Crook and other bursary funds			169,690				2,006	171,696
Wiles Family Bequest			93,660				1,108	94,768
The Minsall-Jones Bequest			60,834				719	61,553
Derek Marsden Fund for educational	bursaries		18,249				216	18,465
			419,754				4,964	424,718

	Fund				Gains	Fund
	B/Fwd	Income	Expenditure	Transfers	S.Losses	C/Fwd
	E	E	E	f.	E
Overseas Development Fund Income	4,720	1,181			384	6,285
Hymns A Bt M Lectureship Fund Income	10,658	1,318			867	12,843
Harold Smart Fund Income	7,234	551			589	8,374
Hubert Crook and other Bursary Funds	47,900	6,658			3,897	58,455
Wiles Family Bequest income fund	24,121	3,624			1,962	29,707
The Minsall-Jones Income Fund	12,614	2,287			1,026	15,927
Derek Marsden Fund for Education	3,783	686			307	4,776
Regional development in specific areas	1,121	25			92	1,238
Bursaries for Cathedral Courses	19,737	432			1,606	21,775
Bursaries for RSCM study programmes	6,807	149			554	7,510
Liz (k Terry Bramall Trust		60,000	(60,000)
The Norman Kirkham Fund for organ scholarships	2,240	49			182	2,471
RSCM Voices general bursaries fund	1,079	24			88	1,191
John Piling Trust Fund - RSCM Voices	2,332			(2,332)
K Guppy Fund for training/support of boy choristers	50,864	1,114			4,138	56,116
Parish Organ Scholarships Project	5,240	115			426	5,781
Post-Ordination clergy training project	7,697	169			626	8,492
The Headley Trust bursaries grant for young people	103	1		(103)	4	5
PA Mason Memorial Fund for courses	33,437	733			2,720	36,890
MB MacAuley Fund for choir training	140,957	3,088			11,469	155,514
DF Todd Fund	36,696	804			2,986	40,486
Cathedral Courses Income Fund	3,144	69			255	3,468
The Patrons' Fund 2017	81			(81)
Ouseley Trust	2,147	47			175	2,369
Area funds	10,783	236			877	11,896
Pipeline Organ Scholarship	198	4			16	218
The Praxis Grant for Education		1,500	(1,500)
Oglethorpe Fund for bursaries for young choristers	2,484	54			202	2,740
J Thiseltori fund for Chorister Training		2,022			82	2,104
David Wlllcocks Music Trust Grant		1,516			61	1,577
The Williams Church Music Trust Grant		2,527			102	2,629
	438,177	90,983	(61,500)	(2,516)	35,693	500,837

Restricted Funds - previous yea	r
				Fund				Gains	Fund
				B/Fwd	Income	Expenditure	Transfers	&Losses	C/Fwd
				E		E	E	E
Overseas Development Fund Income				3,661	1,031			28	4,720
Hymns A Bt M Lectureship Fund Income				9,440	1,146			72	10,658
Harold Smart Fund Income				6,705	478			51	7,234
Hubert Crook and other Bursary Funds				41,788	5,792			320	47,900
Wiles Family Bequest income fund				20,807	3,155			159	24,121
The Minsall-Jones Income Fund				10,541	1,992			81	12,614
Derek Marsden Fund for Education				3,162	597			24	3,783
Regional development in specific areas				1,091	21			9	1,121
Bursaries for Cathedral Courses				19,223	367			147	19,737
Bursaries for RSCM study programmes				6,630	126			51	6,807
Liz BtTerry Bramall Trust					60,000	(60,000)
The Norman Kirkham Fund for organ		scholarships		2,181	42			17	2,240
RSCM Voices general bursaries fund				1,051	20			8	1,079
John Piling Trust Fund - RSCM Voices				2,271	43			18	2,332
KGuppy Fund for training/support of boy		choristers		49,537	945			382	50,864
KGuppy Income Fund for training of boy		choristers
Parish Organ Scholarships Project				5,104	97			39	5,240
Post-Ordination clergy training project				7,496	143			58	7,697
The Headley Trust bursaries grant for young			people	100	2			1	103
PA Mason Memorial Fund for courses				32,567	621			249	33,437
PA Mason Memorial Income Fund
MB MacAuley Fund for choir training				137,289	2,619			1,049	140,957
DF Todd Fund				35,741	682			273	36,696
Cathedral Courses Income Fund				3,063	58			23	3,144
The Patrons' Fund 2017				79	2				81
Ouseley Trust				2,091	40			16	2,147
Area funds				10,503	200			80	10,783
To support the Cathedral Organists	Association
Pipeline Organ Scholarship				2,038	571			9	2618
The Praxis Grant for Education					6,000	(6,000)
Ogiethorpe Fund for bursaries for young		choristers			628		1,846	10	2,484
				414,159	87,418	(66,000)	1,846	3,174	440,597

				Fund				Gains	Gains	Fund
				B/Fwd	Income	Expenditure	Transfers	Bt Losses		C/Fwd
				E	E	E	E		E	E
Designated		funds:
Fixed	assets			17,516		(10,365)	21,123			28,274
Area	development			8,934						8,934
Fair value		reserve		92,780					25,983	118,763
Cathedral		Organists	Association	10,345	6,230	(1,603)	(3,000)			11,972
General	fund			293,779	995,704	(1,117,849)	(15,607)			156,027
				423,354	1,001,934	(1,129,817)	2,516		25,983	323,970
Unrestricted		Funds -	previous year
				Fund				Gains		Fund
				B/Fwd	Income	Expenditure	Transfers	Bt	Losses	C/Fwd
				E	E	E			E
Designated		funds:
Fixed	assets			15,084	11,343	(8,911)				17,516
Area	development			8,934						8,934
Areas	funds			199,064	18,004	(25,435)	(191,633)
Fair value		reserve		89,410					3,370	92,780
Cathedral		Organists	Association	9,803	3,705	(3,163)				10,345
General	fund			301,604	979,186	(1,176,798)	189,787		—	293,779
				623,899	1,012,238	(1,214,307)	(1,846)		3,370	423,354

		Land and	buildings
		2021	2020
		f	f
Due	within one year	42,415	23,958
Due	between one and five years	32,666	19,708
Due	in more than five years
		75,081	43,666

21.Comparative Statemen	t of Financial A	ctivities
					Total
		Unrestricted	Restricted	Endowment	Funds
		Funds	Funds	Funds	2020
		E	E	E	E
Income and Endowments	from:
Donations and legacies		196,004	66,605		262,609
Income from charitable activities:
Membership Income		539,221			539,221
Education &Outreach		14,899	550		15,449
Publication sales & royalties		203,662			203,662
Area committees		22,255			22,255
Other incoming resources		8,742	20,263		29,005
Investments		27,455			27,455
Total Income		1,012,238	87,418		1,099,656
Expenditure on:
Raising funds		105,280			105,280
Charitable activities
Membership Income		259,932			259,932
Education &Outreach		246,139	68,420		314,559
Publication sales &royalties		335,347			335,347
Area committees		267,609			267,609
Total expenditure		1,214,307	68,420		1,282,727
Net income/(expenditure)		(202,069)	18,998		(183,071)
Transfers between funds		(1,846)	1,846
Net Gains/(losses) on investments		3,370	3,174	4,964	11,508
Net movement in funds		(200,545)	24,018	4,964	(171,563)
Reconciliation offunds:
Total funds brought forward		623,899	414,159	419,754	1,457,812
Total funds carried forward		423,354	438,177	424,718	1,286,249