Yorkshire College of Music and Drama
Charity number 529220
Annual Report and Financial Statements
for the year ended 31 July 2020
Yorkshire College of Music and Drama
Annual Report and Financial Statements for the year ended 31 July 2020
| Contents | Page |
|---|---|
| Trustees' report | 2 to 3 |
| Examiner's report | 4 |
| Statement of financial activities | 5 |
| Balance sheet | 6 |
| Notes to the accounts | 7 to 12 |
Prepared by West Yorkshire Community Accounting Service
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Yorkshire College of Music and Drama
Trustees' report for the year ended 31 July 2020
Reference and administrative details of the charity, its trustees and advisors
The trustees during the financial year and up to and including the date the report was approved were: Name Position Dates David Hughes John Varley Lee Wallace Nicholas Wayne Charity number 529220 Registered in England and Wales Registered and principal address Bankers St Mark's House Barclays Bank plc 1 St Mark's Avenue Leeds LS2 9BN
Independent examiner Simon Bostrom FCIE West Yorkshire Community Accounting Service Stringer House 34 Lupton Street Leeds LS10 2QW
Structure, governance and management
The charity is governed by a trust deed dated 14 October 1968.
Method of recruitment and appointment of trustees
The charity is in the form of a trust. New trustees may join at the invitiation of the existing trustees.
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Yorkshire College of Music and Drama
Trustees' report (continued) for the year ended 31 July 2020
Objectives and activities
The charity's objects
To promote the study of music, drama and the arts in and around the city of Leeds and in particular to continue to extend and develop the work hitherto carried on by the college.
The charity's main activities
The charitable aims of the Yorkshire College of Music & Drama include working in the community to bring music, and the love of playing and singing, to disadvantaged groups who would not normally be able to access music – lessons, participation and appreciation.
We work with schools which haven’t the budget or staff to provide music lessons for their pupils. We aim to engage with a wide range of groups such as the elderly, the young, people with physical or learning difficulties and groups of socially or physically excluded people so they can enjoy the pleasure of music by simply listening or, hopefully joining in.
Public benefit statement
In setting our objectives and planning our activities our Trustees have given serious consideration to the Charity Commission’s general guidance on public benefit and in particular the advancement of education, the arts, culture, heritage and science.
Achievements and performance
The Charity has provided subsidised access to music – tuition, appreciation and participation – to those who would not normally have such access for reasons of economic, cultural, physical or mental disadvantages.
Financial review
The net expenditure for the year was £95,098.
Reserves policy
The charity's free reserves, excluding fixed assets, at the year end were £6,211. The trustees have not adopted a formal reserves policy.
Signed on behalf of the board of trustees:
Signed………David Hughes…………………. (Trustee)
Date…………12/03/2021……………………….
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Yorkshire College of Music and Drama
Independent examiner's report to the trustees of Yorkshire College of Music and Drama
I report to the charity trustees on my examination of the accounts of the charity for the year ended 31 July 2020, which are set out on pages 5 to 12.
Responsibilities and basis of report
As the charity trustees you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act').
I report in respect of my examination of the charity's accounts as carried out under section 145 of the 2011 Act. In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
Independent examiner's statement
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
-
1 accounting records were not kept in respect of the charity as required by section 130 of the Charities Act; 2 the accounts do not accord with those records; or
-
3 the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 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.
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.
Signed: …………Simon Bostrom…………
Relevant professional qualification or body: FCIE
Date: ……12/03/2021……..
West Yorkshire Community Accounting Service
Stringer House 34 Lupton Street Leeds LS10 2QW
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Yorkshire College of Music and Drama
Statement of Financial Activities
(including summary income and expenditure account) for the year ended 31 July 2020
| Notes 2020 Unrestricted funds £ Income from: Grants and donations (2) 10,000 Tuition fees 63,677 Room hire 16,994 Other income 7,589 Total income 98,260 Expenditure on: Salaries, NI and pensions (3) 23,584 Tutors' fees 67,552 Other tuition costs 1,676 Marketing and public relations 12,055 Property lease charges 42,500 Rates 4,624 Utilities and water 5,609 Cleaning and refuse 2,873 Repairs and maintenance 7,229 Health and safety 352 IT maintenance and software 319 Printing, postage and stationery 912 Telephone and internet 2,778 Equipment lease costs 6,139 Insurance 3,485 Food and refreshments 584 Investment management fees 4,102 Bank charges 994 Accountancy and independent examination 1,020 Depreciation 796 Sundry expenses 5,323 Total expenditure 194,506 Net gains/(losses) on investments 1,148 Net income / (expenditure) (95,098) Fund balances brought forward 495,031 Fund balances carried forward (4) 399,933 |
2020 Restricted funds £ - - - - - - - - - - - - - - - - - - - - - - - - - - - - - 4,193 4,193 |
2020 Total funds £ 10,000 63,677 16,994 7,589 98,260 23,584 67,552 1,676 12,055 42,500 4,624 5,609 2,873 7,229 352 319 912 2,778 6,139 3,485 584 4,102 994 1,020 796 5,323 194,506 1,148 (95,098) 499,224 404,126 |
2019 Total funds £ - 89,585 24,625 7,973 122,183 23,005 73,554 3,248 45,072 42,762 4,321 5,172 3,769 3,551 332 804 592 3,529 3,599 3,066 - 4,818 1,004 1,200 937 1,986 226,321 14,377 (89,761) 588,985 499,224 |
|---|---|---|---|
All incoming resources and resources expended derive from continuing activities.
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Yorkshire College of Music and Drama
Balance sheet
| as at 31 July 2020 2020 Unrestricted £ Fixed assets Tangible assets (5) 4,511 Investments (6) 389,211 Total fixed assets 393,722 Current assets Debtors and prepayments (7) 1,382 Cash at bank 10,591 Total current assets 11,973 Current liabilities: amounts falling due within one year Creditors and accruals (8) 5,762 Total current liabilities 5,762 Net current assets / (liabilities) 6,211 Net assets 399,933 Funds Unrestricted funds 399,933 Restricted funds - Total funds 399,933 |
2020 Restricted £ - - - - 4,193 4,193 - - 4,193 4,193 - 4,193 4,193 |
2020 Total £ 4,511 389,211 393,722 1,382 14,784 16,166 5,762 5,762 10,404 404,126 399,933 4,193 404,126 |
2019 Total £ 5,307 476,165 481,472 14,253 7,217 21,470 3,718 3,718 17,752 499,224 495,031 4,193 499,224 |
|---|---|---|---|
The financial statements were approved by the board of trustees on
Date: ……………12/03/2021…………
Signed: ………David Hughes…………… (Trustee)
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Yorkshire College of Music and Drama
Notes to the accounts
for the year ended 31 July 2020
1 Accounting policies
Basis of accounting
These accounts have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant note(s) to these accounts. The financial statements have been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019) and with the Charities Act 2011.
The charity constitutes a public benefit entity as defined by FRS 102. There has been no change to the accounting policies since last year. No changes have been made to the accounts for previous years.
Going concern
The trustees are satisfied that there are no material uncertainties about the charity's ability to continue.
Incoming resources
All incoming resources are included in the Statement of Financial Activities (SOFA) when the charity becomes entitled to the resources, it is more likely than not that the trustees will receive the resources and the monetary value can be measured with sufficient reliability.
Grants and donations
Grants and donations are only included in the SOFA when the charity has unconditional entitlement to the resources.
Where grants are related to performance and specific deliverables, they are accounted for as the charity earns the right to consideration by its performance.
Investments
Investments are stated at market value at the balance sheet date. The SOFA includes the net gains and losses arising on revaluations and disposals throughout the year.
Expenditure and liabilities
Expenditure is recognised on an accrual basis as a liability is incurred. Liabilities are recognised where it is more likely than not that there is a legal or constructive obligation committing the charity to pay out the resources and the amount of the obligation can be measured with reasonable certainty.
Taxation
As a charity the organisation benefits from rates relief and is generally exempt from income tax and capital gains tax but not from VAT. Irrecoverable VAT is included in the cost of those items to which it relates.
Tangible fixed assets
Tangible fixed assets are capitalised and included at cost including any incidental expenses of acquisition. Gifted assets are shown at the value to the charity on receipt. Depreciation is provided on all tangible fixed assets at rates calculated to write off the cost on a reducing balance basis over their expected useful economic lives as follows: Project and office equipment: 15%
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Yorkshire College of Music and Drama
Notes to the accounts
for the year ended 31 July 2020
1 Accounting policies continued
Pensions
The charity operates a defined contribution scheme for the benefit of its employees. The costs of contributions are recognised in the year they are payable.
Fund accounting
Unrestricted funds are available for use at the discretion of the trustees in furtherance of the general objectives of the charity.
Restricted funds are subjected to restrictions on their expenditure imposed by the donor or through the terms of an appeal.
Further explanation of the nature and purpose of each fund is included in the notes to the accounts.
Leases
Rents under operating leases are charged on a straight line basis over the lease term or to an earlier date if the lease can be determined without financial penalty.
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Yorkshire College of Music and Drama
Notes to the accounts continued
for the year ended 31 July 2020
| 2 Grants and donations Leeds City Council Covid support grant 3 Staff costs and numbers Gross salaries Social security costs Pensions |
2020 Unrestricted funds £ 10,000 10,000 |
2020 Restricted funds £ - - |
2020 Total funds £ 10,000 10,000 2020 £ 23,047 - 537 23,584 |
2019 Total funds £ - - 2019 £ 22,604 - 401 23,005 |
|---|---|---|---|---|
| The average number employees during the year was 1, being an average of 1 full time equivalent | The average number employees during the year was 1, being an average of 1 full time equivalent | The average number employees during the year was 1, being an average of 1 full time equivalent | (2019: 1, 1 | |
|---|---|---|---|---|
| FTE). There were no employees with emoluments above £60,000. | ||||
| Defined contribution pension scheme | 2020 | 2019 | ||
| Costs of the scheme to the charity for the year | £ 537 |
£ 401 |
||
| Amount of any contributions outstanding at the year end | - | 104 | ||
| **4 ** | Restricted funds Balance b/f Incoming |
Outgoing Transfers |
Balance c/f | |
| £ Derek Blackwell bursary 4,043 - |
£ | £ £ - - |
£ 4,043 |
|
| W Robinson Memorial Fund 150 - |
- - |
150 | ||
| 4,193 - |
- - |
4,193 | ||
| Fund name Purpose of restriction |
Derek Blackwell bursary Funds to provide singing lessons for those who would be unable to attend the college.
W Robinson Memorial Fund Funds for the purpose of purchasing equipment for the drama department.
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Yorkshire College of Music and Drama
Notes to the accounts continued
for the year ended 31 July 2020
| 5 6 **7 ** |
Tangible assets Cost At 1 August 2019 Additions At 31 July 2020 Depreciation At 1 August 2019 Depn reversed re. disposals Charge for year At 31 July 2020 Net book value At 31 July 2020 At 31 July 2019 Fixed assets investments Carrying (market) value at beginning of year Add: additions to investments at cost Less: disposals at carrying value Investment management fees Add / (deduct): net gain / (loss) on revaluation Carrying (market) value at end of year Breakdown of investments agreeing with SOFA and Balance sheet Analysis of investments at market value Investments listed on a recognised stock exchange, funds or trusts Cash held as part of the investment portfolio Total Debtors and prepayments Debtors Prepayments |
£ 50,474 - 50,474 45,167 - 796 45,963 4,511 5,307 2020 £ 476,165 - (84,000) (4,102) 1,148 389,211 2020 £ 379,750 9,461 389,211 2020 £ 770 612 1,382 Equipment |
Total £ 50,474 - 50,474 45,167 - 796 45,963 4,511 5,307 2019 £ 540,606 - (74,000) (4,818) 14,377 476,165 2019 £ 469,381 6,784 476,165 2019 £ 3,807 10,446 14,253 |
|---|---|---|---|
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Yorkshire College of Music and Drama
Notes to the accounts continued
for the year ended 31 July 2020
| 8 Creditors and accruals Creditors Accruals |
2020 £ - 5,762 5,762 |
2019 £ 2,518 1,200 3,718 |
|---|---|---|
9 Related party transactions
Trustee expenses
No trustee received any expenses during this year or the previous year.
Trustee remuneration and benefits
No trustee received any remuneration or benefit during this or the previous year.
During the year 1 trustee, Nicholas Wayne was paid £10,055 in respect of the development and delivery of the Voices Yorkshire Project (2019: £26,525)
There were no other related party transactions.
| 10 Operating leases Within one year In the second to fifth years inclusive Over five years from the balance sheet date Expected future minimum lease payments over the remaining life of the lease, analysed into the period in which the commitment falls due: |
2020 £ 45,886 175,139 - 221,025 |
2019 £ 42,581 169,977 42,465 255,023 |
|---|---|---|
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Yorkshire College of Music and Drama
Statement of Financial Activities including comparatives for all funds (including summary income and expenditure account) for the year ended 31 July 2020
| 2020 2019 Unrestricted Unrestricted funds funds £ £ Income Grants and donations 10,000 - Tuition fees 63,677 89,585 Room hire 16,994 24,625 Other income 7,589 7,973 Total income 98,260 122,183 Expenditure Salaries, NI and pensions 23,584 23,005 Tutors' fees 67,552 73,554 Other tuition costs 1,676 3,248 Marketing and public relations 12,055 45,072 Property lease charges 42,500 42,762 Rates 4,624 4,321 Utilities and water 5,609 5,172 Cleaning and refuse 2,873 3,769 Repairs and maintenance 7,229 3,551 Health and safety 352 332 IT maintenance and software 319 804 Printing, postage and stationery 912 592 Telephone and internet 2,778 3,529 Equipment lease costs 6,139 3,599 Insurance 3,485 3,066 Food and refreshments 584 - Investment management fees 4,102 4,818 Bank charges 994 1,004 Independent examination 1,020 1,200 Depreciation 796 937 Sundry expenses 5,323 1,986 Total expenditure 194,506 226,321 Net gains/(losses) on investments 1,148 14,377 Net income / (expenditure) (95,098) (89,761) Fund balances brought forward 495,031 584,792 Fund balances carried forward 399,933 495,031 |
2020 Restricted funds £ - - - - - - - - - - - - - - - - - - - - - - - - - - - - - 4,193 4,193 |
2019 Restricted funds £ - - - - - - - - - - - - - - - - - - - - - - - - - - - - - 4,193 4,193 |
2020 Total funds £ 10,000 63,677 16,994 7,589 98,260 23,584 67,552 1,676 12,055 42,500 4,624 5,609 2,873 7,229 352 319 912 2,778 6,139 3,485 584 4,102 994 1,020 796 5,323 194,506 1,148 (95,098) 499,224 404,126 |
2019 Total funds £ - 89,585 24,625 7,973 122,183 23,005 73,554 3,248 45,072 42,762 4,321 5,172 3,769 3,551 332 804 592 3,529 3,599 3,066 - 4,818 1,004 1,200 937 1,986 226,321 14,377 (89,761) 588,985 499,224 |
|---|---|---|---|---|
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