| Page | ||||
|---|---|---|---|---|
| Reference | and administrative | details | ||
| Trustees' | report | 2-14 | ||
| Trustees' | responsibilities statement |
15 | ||
| Independent auditor's |
report | 16-19 | ||
| Statement | offinancial | activities | 20 | |
| Balance sheet | 21 | |||
| Statement | ofcash flows | 22 | ||
| Notes to the financial | statements | 23-41 |
| Unrestricted | Restricted | Total | Total | ||||
|---|---|---|---|---|---|---|---|
| funds | funds | funds | funds | ||||
| 2023 | 2023 | 2023 | 2022 | ||||
| Note | F | F | F | ||||
| Income from: | |||||||
| Donations and legacies |
258,934 | 304,612 | 563,546 | 518,550 | |||
| Charitable activities |
958,470 | 958,470 | 871,418 | ||||
| Investments | 5,338 | 5,338 | 318 | ||||
| Total income | 1,222,742 | 304,612 | 1,527,354 | 1,390,286 | |||
| Expenditure on: |
|||||||
| Raising funds | 5 | 115,108 | 115,108 | 94,727 | |||
| Charitable activities |
6 | 1,269,105 | 304,612 | 1,573,717 | 1,353,195 | ||
| Total expenditure | 1,384,213 | 304,612 | 1,688,825 | 1,447,922 | |||
| Net expenditure | before net | ||||||
| gains/(losses) | on investments | (161,471) | (161,471) | (57,636) | |||
| Net gains/(losses) | on investments | 16,941 | 16,941 | (12,556) | |||
| Net movement in |
funds | (144,530) | (144,530) | (70,192) | |||
| Reconciliation of |
funds: | ||||||
| Total funds brought | forward | 575,685 | 106,749 | 682,434 | 752,626 | ||
| Net movement in |
funds | (144,530) | (144,530) | (70,192) | |||
| Total funds carried forward | 431,155 | 106,749 | 537,904 | 682,434 |
| 2023 | 2022 | |||||
|---|---|---|---|---|---|---|
| Note | f. | |||||
| Fixed assets | ||||||
| Intangible assets | 9 | 15,836 | ||||
| Tangible assets | 10 | 883 | ||||
| Investments | 11 | 406,027 | 389,086 | |||
| 406,027 | 405,805 | |||||
| Current assets | ||||||
| Debtors | 12 | 65,812 | 48,938 | |||
| Cash at bank and | in hand | 274,975 | 379,080 | |||
| 340,787 | 428,018 | |||||
| Creditors: amounts | falling due within one | |||||
| year | 13 | (208,910) | (151,389) | |||
| Net current assets | 131,877 | 276,629 | ||||
| Total net assets | 537,904 | 682,434 | ||||
| Charity funds | ||||||
| Restricted funds | 14 | 106,749 | 106,749 | |||
| Unrestricted funds |
14 | 431,155 | 575,685 | |||
| Total funds | 537,904 | 682,434 |
| 2023 | 2022 | ||||||
|---|---|---|---|---|---|---|---|
| Note | f. | ||||||
| Cash flows from operating | activities | ||||||
| Net cash used in operating | activities | 16 | (109,443) | (98,691) | |||
| Cash flows from investing | activities | ||||||
| Purchase ofinvestments | (150,000) | ||||||
| Dividends, interests and rents from investments |
5,338 | ||||||
| Net cash provided by/(used |
in) investing | activities | 5,338 | (150,000) | |||
| Change in cash and cash |
equivalents in |
the year | (104,105) | (248,691) | |||
| Cash and cash equivalents | at the beginning | ofthe year | 379,080 | 627,771 | |||
| Cash and cash equivalents | at the end of | the year | 17 | 274,975 | 379,080 | ||
| The notes on pages 23to41 | form part of these financial | statements |
| Unrestricted | Restricted | Total | ||
|---|---|---|---|---|
| funds | funds | funds | ||
| 2023f | 2023 F |
2023 f. |
||
| Donations | 120,836 | 27,964 | 148,800 | |
| Grants | 118,000 | 276,648 | 394,648 | |
| Membership | fees | 20,098 | 20,098 | |
| 258,934 | 304,612 | 563,546 |
| Unrestricted | Restricted | Total | ||
|---|---|---|---|---|
| funds | funds | funds | ||
| 2022 | 2022 | 2022 | ||
| Donations | 101,667 | 31,351 | 133,018 | |
| Grants | 97,125 | 265,165 | 362,290 | |
| Membership | fees | 23,242 | 23,242 | |
| 222,034 | 296,516 | 518,550 |
| Unrestricted | Total | |||
|---|---|---|---|---|
| funds | funds | |||
| 2023 | 2023 | |||
| Course fees | 851,070 | 851,070 | ||
| Audition fees | 9,846 | 9,846 | ||
| Sales of merchandise | 1,853 | 1,853 | ||
| Concert and performing | fees | 34,726 | 34,726 | |
| Ticket sales and contributions | -concerts | 46,415 | 46,415 | |
| Other income | 14,560 | 14,560 | ||
| Total 2023 | 958,470 | 958,470 |
| Unrestricted | Total | |||
|---|---|---|---|---|
| funds | funds | |||
| 2022 | 2022 | |||
| E | ||||
| Course fees | 776,724 | 776,724 | ||
| Audition fees | 10,980 | 10,980 | ||
| Sales ofmerchandise | 5,471 | 5,471 | ||
| Concert and performing | fees | 42,619 | 42,619 | |
| Ticket sales and contributions | -concerts | 17,146 | 17,146 | |
| Other income | 18,478 | 18,478 | ||
| Total 2022 | 871,418 | 871,418 |
| Unrestricted | Total | |||
|---|---|---|---|---|
| funds | funds | |||
| 2023 | 2023 | |||
| f. | f. | |||
| Fundraising | -other costs | 25,091 | 25,091 | |
| Wages | and | salaries | 78,707 | 78,707 |
| National | Insurance | 9,260 | 9,260 | |
| Pension | costs | 2,050 | 2,050 | |
| 115,108 | 115,108 | |||
| Unrestricted | Total | |||
| funds | funds | |||
| 2022 | 2022 | |||
| Fundraising | -other costs | 10,081 | 10,081 | |
| Wages | and | salaries | 73,650 | 73,650 |
| National | insurance | 8,946 | 8,946 | |
| Pension | costs | 2,050 | 2,050 | |
| 94,727 | 94,727 |
| Direct | Support | Total |
|---|---|---|
| costs | costs | funds |
| 2023 | 2023 | 2023 |
| E | f. | |
| 1,423,362 | 150,355 | 1,573,717 |
| Direct | Support | Total |
|---|---|---|
| costs | costs | funds |
| 2022 | 2022 | 2022 |
| 1,204,269 | 148,926 | 1,353,195 |
| Charitable | Total | |||||
|---|---|---|---|---|---|---|
| activities | funds | |||||
| 2023 | 2023 | |||||
| Staff costs | 361,701 | 361,701 | ||||
| Courses accomodation, | music | 888,022 | 888,022 | |||
| Insurance | 6,094 | 6,094 | ||||
| Travelling | expenses | 42,554 | 42,554 | |||
| Advertising, | website, | promotion | and printing | 35,432 | 35,432 | |
| I egal and | professional | 3,000 | 3,000 | |||
| Consulting | and training | 17,660 | 17,660 | |||
| Office costs | 55,206 | 55,206 | ||||
| Bank charges | 13,693 | 13,693 | ||||
| 1,423,362 | 1,423,362 | |||||
| Charitable | Total | |||||
| activities | funds | |||||
| 2022 | 2022 | |||||
| Staff costs | 267,377 | 267,377 | ||||
| Courses accomodation, | music | 781,068 | 781,068 | |||
| Insurance | 8,982 | 8,982 | ||||
| Travelling | expenses | 28,142 | 28,142 | |||
| Advertising, | website, | promotion | and printing | 26,519 | 26,519 | |
| Consulting | and training | 16,847 | 16,847 | |||
| Office costs | 62,902 | 62,902 | ||||
| Bank charges | 12,432 | 12,432 | ||||
| 1,204,269 | 1,204,269 |
| Charitable | Total | |||
|---|---|---|---|---|
| activities | funds | |||
| 2023 | 2023 | |||
| f. | ||||
| Staff costs | 97,719 | 97,719 | ||
| Legal and professional | fees | 13,791 | 13,791 | |
| Rent and rates | 21,791 | 21,791 | ||
| Governance | costs | 335 | 335 | |
| Amortisation | &depreciation | 16,719 | 16,719 | |
| 150,355 | 150,355 |
| Charitable | Total | |||||
|---|---|---|---|---|---|---|
| activities | funds | |||||
| 2022 | 2022f | |||||
| Staff costs | 94,203 | 94,203 | ||||
| Legal and professional | fees | 11,402 | 11,402 | |||
| Rent and rates | 23,712 | 23,712 | ||||
| Amortisation | &depreciation | 19,609 | 19,609 | |||
| 148,926 | 148,926 | |||||
| Auditor's remuneration |
||||||
| 2023f | 2022 | |||||
| Fees payable | to the company's | auditor | for the audit ofthe company's | |||
| annual accounts | 9,220 | 7,750 | ||||
| Fees payable | to the company's | auditor | in respect of: | |||
| Other services | 1,000 | 1,000 |
| Staff costs | ||
|---|---|---|
| 2023f | 2022f | |
| Wages and salaries | 491,307 | 403,348 |
| Social security costs | 46,232 | 26,966 |
| Other pension costs | 11,898 | 15,912 |
| 549,437 | 446,226 |
| 2023 | 2022 | ||||
|---|---|---|---|---|---|
| No. | No. | ||||
| Average no. ofemployees | 16 | 13 | |||
| The average headcount | expressed as full-time | equivalents | was: | ||
| 2023 | 2022 | ||||
| No. | No. | ||||
| Staff | 12 | 10 |
| Intangible assets | |
|---|---|
| Software | |
| E | |
| Cost | |
| At 1 October 2022 | 92,496 |
| At 30September 2023 | 92,496 |
| Amortisation | |
| At 1 October 2022 | 76,660 |
| Charge for the year | 15,836 |
| At 30September 2023 | 92,496 |
| Net book value | |
| At 30September 2023 | |
| At 30September 2022 | 15,836 |
| Office | ||
|---|---|---|
| equipmentf | ||
| Cost | ||
| At 1 October 2022 | 15,119 | |
| At 30September 2023 | 15,119 | |
| Depreciation | ||
| At 1 October 2022 | 14,236 | |
| Charge for the year | 883 | |
| At 30September 2023 | 15,119 | |
| Net book value | ||
| At 30September 2023 | ||
| At 30September 2022 | 883 | |
| 11. | Fixed asset investments | |
| Unlisted | ||
| investments | ||
| f. | ||
| Cost or valuation | ||
| At 1 October 2022 | 389,086 | |
| Revaluations | 16,941 | |
| At 30September 2023 | 406,027 | |
| Net book value | ||
| At 30September 2023 | 406,027 | |
| At 30September 2022 | 389,086 |
| 2023 E |
2022f | ||||||
|---|---|---|---|---|---|---|---|
| Trade debtors | 15,477 | 7,842 | |||||
| Other debtors | 1,920 | 1,920 | |||||
| Prepayments | and accrued income | 48,415 | 39,176 | ||||
| 65,812 | 48,938 | ||||||
| Creditors: amounts | falling due | within one year | |||||
| 2023 | 2022 | ||||||
| E | |||||||
| Trade creditors | 63,216 | 9,741 | |||||
| Other creditors | 30,694 | 22,418 | |||||
| Accruals and deferred | income | 115,000 | 119,230 | ||||
| 208,910 | 151,389 | ||||||
| 2023f | 2022 f. |
||||||
| Deferred income at | 1 | October 2022 | 86,746 | 125,459 | |||
| Resources deferred | during the year | 98,383 | 44,371 | ||||
| Amounts released |
from previous | periods | (86,746) | (83,084) | |||
| 98,383 | 86,746 |
| Statement offunds | - current | year | ||||
|---|---|---|---|---|---|---|
| Balance at | ||||||
| Balance at 1 | 30 | |||||
| October | Gains/ | September | ||||
| 2022 | Income | Expenditure | (Losses) | 2023 | ||
| F | f. | |||||
| Unrestricted funds |
||||||
| Designated funds |
||||||
| General contingency | 8 budget | 410,000 | 410,000 | |||
| CRM / API project | 15,836 | (15,836) | ||||
| Access and inclusion | initiative | 30,000 | (23,000) | 7,000 | ||
| 40th Anniversary initiative |
40,000 | (40,000) | ||||
| Organisational development initiative |
42,857 | (28,702) | 14,155 | |||
| Brand review initiative | 4,400 | (4,400) | ||||
| 543,093 | (111,938) | 431,155 | ||||
| General funds | ||||||
| General Funds | 32,592 | 1,222,742 | (1,272,275) | 16,941 | ||
| Total Unrestricted | funds | 575,685 | 1,222,742 | (1,384,213) | 16,941 | 431,155 |
| Restricted funds | |||||||
|---|---|---|---|---|---|---|---|
| Founder's Scholarship |
Fund | 106,749 | 106,749 | ||||
| Arts Council England | 108,020 | (108,020) | |||||
| Gillian Dickinson | Trust | 9,375 | (9,375) | ||||
| The Leverhulme | Foundation | 63,800 | (63,800) | ||||
| Emeley Foundation | 3,500 | (3,500) | |||||
| Offenheim | 13,000 | (13,000) | |||||
| Other small grants and | |||||||
| donations | 106,917 | (106,917) | |||||
| 106,749 | 304,612 | (304,612) | 106,749 | ||||
| Total offunds | 682,434 | 1,527,354 | (1,688,825) | 16,941 | 537,904 |
| 14. | Statement offunds | Statement offunds | (continued) | |||||
|---|---|---|---|---|---|---|---|---|
| Statement offunds | - prior year | |||||||
| Balance at | ||||||||
| Balance at | 30 | |||||||
| 1 October | Transfers | Gains/ | September | |||||
| 2021 | Income | Expenditure | in/out | (Losses) | 2022 | |||
| f. | ||||||||
| Unrestricted | ||||||||
| funds | ||||||||
| Designated | ||||||||
| funds | ||||||||
| General | ||||||||
| contingency | & | |||||||
| budget | 410,000 | 410,000 | ||||||
| CRM /API | ||||||||
| project | 34,329 | (18,493) | 15,836 | |||||
| Access and | ||||||||
| inclusion | ||||||||
| initiative | 30,000 | 30,000 | ||||||
| 40th Anniversary | ||||||||
| initiative | 40,000 | 40,000 | ||||||
| Organisation | al | |||||||
| development | ||||||||
| initiative | 70,000 | (27,143) | 42,857 | |||||
| Brand review | ||||||||
| initiative | 20,000 | (15,600) | 4,400 | |||||
| 604,329 | (18,493) | (42,743) | 543,093 | |||||
| General funds | ||||||||
| General funds | 41,548 | 1,093,769 | (1,132,912) | 42,743 | (12,556) | 32,592 | ||
| Total | ||||||||
| Unrestricted | ||||||||
| funds | 645,877 | 1,093,769 | (1,151,405) | (12,556) | 575,685 |
| Restricted funds |
|||||
|---|---|---|---|---|---|
| Founder's | |||||
| Scholarship | |||||
| Fund | 106,749 | 106,749 | |||
| Arts Council | |||||
| England | 122,158 | (122,158) | |||
| Gillian Dickinson | |||||
| Trust | 1,964 | (1,964) | |||
| The I everhulme |
|||||
| Foundation | 36,040 | (36,040) | |||
| Garfield Weston | |||||
| Foundation | 25,000 | (25,000) | |||
| PRS Foundation | 14,000 | (14,000) | |||
| Other small | |||||
| grants and | |||||
| donations | 97,354 | (97,354) | |||
| 106,749 | 296,516 | (296,516) | 106,749 | ||
| Total offunds | 752,626 | 1,390,285 | (1,447,921) | (12,556) | 682,434 |
| Analysis ofnet assets between funds - curr | ent year | ||
|---|---|---|---|
| Unrestricted | Restricted | Total | |
| funds | funds | funds | |
| 2023 | 2023 | 2023 | |
| Fixed asset investments | 299,278 | 106,749 | 406,027 |
| Current assets | 410,219 | (69,432) | 340,787 |
| Creditors due within one year | (278,342) | 69,432 | (208,910) |
| Total | 431,155 | 106,749 | 537,904 |
| Analysis | ofnet assets between funds - prio | r year | ||
|---|---|---|---|---|
| Unrestricted | Restricted | Total | ||
| funds | funds | funds | ||
| 2022 | 2022 | 2022 | ||
| f. | ||||
| Tangible | fixed assets | 883 | 883 | |
| Intangible | fixed assets | 15,836 | 15,836 | |
| Fixed asset investments | 282,337 | 106,749 | 389,086 | |
| Current assets | 380,518 | 47,500 | 428,018 | |
| Creditors | due within one year | (103,889) | (47,500) | (151,389) |
| 575,685 | 106,749 | 682,434 |
| Reconciliatio | n of ne |
t movement in funds to net cash flow f |
rom operating | activities | ||
|---|---|---|---|---|---|---|
| 2023 | 2022 | |||||
| F | ||||||
| Net income/(expenditure) for the year (as per the Statement |
of Financial | |||||
| Activities) | ||||||
| (144,530) | (70,192) | |||||
| Adjustments | for: | |||||
| Depreciation | charges | 883 | 1,116 | |||
| Amortisation | charges | 15,836 | 18,493 | |||
| Gains/(losses) | on investments | (16,941) | 12,556 | |||
| Dividends, interests |
and rents from investments | (5,338) | ||||
| Decrease/(increase) | in debtors | (16,874) | 30,588 | |||
| (Decrease) / | increase | in creditors | 57,521 | (91,252) | ||
| Net cash used in operating activities |
(109,443) | (98,691) | ||||
| Analysis of | cash and cash equivalents | |||||
| 2023 | 2022 | |||||
| f | f. | |||||
| Cash in hand | 274,975 | 379,080 |