RE￿Trn COMPAMY NUMBER.. 02233308 (Enqland and Wo19•1
REGISTERED CHARITY NUMBER.. 70130
AJ Pe￿ & Co
WR5 3TB

**The Elgar School Of Music Limited** 

## **Contents of the Financial Statements for the Year Ended 31st August 2022** 

||**Page**|
|---|---|
|**Reference and Administrative Details**|1|
|**Report of the Trustees**|2 to  3|
|**Independent Examiner's Report**|4|
|**Statement of Financial Activities**|5|
|**Balance Sheet**|6|
|**Notes to the Financial Statements**|7 to  15|





forth• Yav End•d 31•1 Au9u•I 2022
Mr8SIHthv
P Sheew ((*alrfJ
N P Sandy
I V•natrA8¥
K Oix
COAIPANY 8ECRETARY
1&20 D••rwty
V¢R12ES
REGISTERED COI&•ANY NUIIBeR 02233XA IE**l arwj
INDEPEIIDEiif EXAIIWER
A J & Co U"mh¢d
Pote
WRS 3T3
HSBC
VIR12EJ

R•port oeth• Tru•t•
Ihe financ4al stst￿ts of tho chwly year 31stAU￿ 2022. The Iruth8s h8ve adLptsJ the of
Ac(x)untkng S￿1 Repwting ty Cha￿￿ of ReAxMnmend&J PrncltC8 appfithie to th8rili98 prgrArii¥J thelr
accjjunts %bith Rwtir¥ StsrKlwd •F4K¥bkn in th? R•pL*4k (rf Irelar•J {FRS 102}
leffe￿￿e 1 20191.
Oblectlv•s •nd alm•
Publlc b•n•fft
Th• trustoes Ix)nftmi trwt fA4th th• Sth 17(51 aftho 2011 (Xwlbe8 kt to havo Ygg¥d
plannhJ fijture ￿1￿88.
Th•nkfvlly. ts majrytty of lh& ffjstrldcrn lo bè kn F*• al thè COl*qD WKkn*120%>211
were grBdu81ty rern1y￿ ONI 14 IIKry WKI (rfwfrnwK>41 yaar lh8 sc1K￿ wa5 p5t4b￿rt opwab'rg os u8U81.
M￿1 IndivhdvJl I￿￿nI er• 1.1. and bw to •TW fr<m h6bwwtb>). Sr*m• t•adws a now
opornlknns ho¥* t•en apordbd txkY•'rvJ *lth lkn ￿ oxlra air rffr•81¥￿ to tho
Tho ono #Ma t￿1 Iw Th)t y•t rnsl•t•J 1$ (w t￿16 ww*4•. Is 8th In plan8 to rnstart thIB In Iho no#r
Ih•r• Illl• lo glven thw natLTh ofth• t￿Ik•
The 8chcd con1hj￿ b) njn the (￿jnty ML￿* I1￿. wvj Fknnwwj ID *td• 8wathaB of ￿ trom MI
Th? 8L*LNA CLNthuM kn be an (*rthi lor ￿ Trfnlty ABRSM mLa* try￿9 . •nd o>)tIrnM to roc•h
FINANCIAL REVIEW
Tho rwlt for tt* yoar • dafrtit d £4.41512Q21". WTkn £&5.7eoi. TN8 ￿r￿$bILl•d
funds of £1,491 12021: surFkn £64,045) o (Igffidt on r￿tr￿tsd fvrKh ot £5.￿ {2021.' £1,715I Unr•8tr1
r88orv88. ex¢Wkng l￿d 9$96ts hdd at 31 2022 £60,63612021: £58.0241
Tolal rn8ery68 eB at 31 PAtyu6t 2022 £82.573 {2W21'. £￿.868).
The twste85 consld8r that an approprfts nyn¥NJm lfftj crf frno re8•Wo8 SI￿x*1 bb fow Tr￿n￿5 cl the chth supw>rt
costs which roFY•8•nts a fyJuf• of £21.(￿￿. Vthlst the cwrenl rj re9WV88 sat￿fy thb& ￿lY. Ihe Im$tees are aware
that th& th8rty wa8 Mi rg(*rt crf assIts￿ th1• year kn order lo Co￿d. Th? tru$1￿ ar•
month$ to (￿¢ Oxpwx1￿I• {£32,OLKI) In tho Iwm.
8TRUCTUR& GOVERNANCE AND MA14AGEAEiir
Go¥•mlng docum•nt
The charilable gyDrAny its 9ry4eming tl* MwrKY8rthm & Aslld85 of Asg(M?atirm thtad 21
9￿8r￿10•, a8 thfinad by ts)pani•s Ad 2rTh.
gu￿￿￿# tOLYrftrf￿ £1 In thè 8¥0nt cla

R•wt orth• Tn￿t•
STRUCTURE. GOVERNANCE AIID MANAGEMENT
R￿rUmment and appoinimert of lThstees
Chalr.
oflocus arn Ho01th a￿1 Sal8ty and Chld PTOte(kn. Al t*)hieB are #nntwny made av￿￿1
Thi8 Wlort has b••n rK•p••d kn aLtonkn %4lh ts ￿￿1 ofPwt 15 (IV)• COMP￿088 2rxrf r•latJna lo
Is
And Ilj t￿h•ll by..

kn*end•nt EMamiW6 Report to thpTru6te•• ol
Th• EJW &hool Oll1* Lknll8d
lfithp•nd•nt •xafvthwfs1g￿1Oth• olTh• Bg4Y Srthool (XlthJ•S¢ Lknll•d nh• C¢>mpnfl
l sewrl chafty trts1088 my Èx¥n¥wbJn of the yoBr endod 31stAuuwl 2022.
Rg•POn8lbilrtw and t¥*i• of report
A8 cWty% ￿￿tee¥ of Ccffjpany dso dYe(th kn th8 p4upLqe$ ol c£¥npwwlwl a￿ rè¥rf)n6de feA
Hav￿9 S8118W mys•ll that th8 act￿ntS of ￿ Ccrfnp8ny are m]uir•l fr) Part 16 of th8 2006 A
Bntr are for Indwdent &¥8rrin8bon. I li r¢8pxt of Thy of xounl8 a6 camed
out undef Sect'on 14S ¢4 tho Qwritie$ Act 2011 fthe 2011 In £*r￿a out rny I h8¥8 ftslowed the
4ven by I1* Chwty co1￿1$*￿ unthr Sécl¢%) iwl Iblof ihe 2011 kt
knd•p•nd•nt #t•t•m
I h8ve corfiF4sted my ewknakn. I cordkn that no mthrg hava ITr c{mned￿ *lth
the •CCWnTS do ￿t acurtd t￿fj reKordB:
uiiwent Ihal thts gh* a fa* *tdch th Mt • mattor r4)r*haered as pwt d an
Indlprthil •￿I￿al￿,. or
the ¥AXJLmts havè wepThrEd In with tht rnethoth and sYkn*les of th8 siatement or
Recomm(￿d0d Pr4dco actourfng res￿￿¥ by to tlbtrths w•p4riThJ Iholr accwr
In ac¢(¥dwK* lh• Re￿1￿"￿ Stsrthrd 4Ff4k*4• In th• UK Rep￿* oflthd IFRS 1tr2)1.
I h•Y• no ¢￿(•rE<j 4Th) h•ve cun¥ BL￿5 rn Othor rnattern *lb) Ih¢ •xwni)•liJn b*t** ￿tt￿￿n shalld
b8 drnwn In tNs rfrr•Xt kn to ¥ wopgr urthsi*)Jr¥J ol Iho acc•￿ts to b• r•ad￿J.
Peach
A J Peach a Co
1D4 f3rn88hopwrA¥•r
Sl Peters
Woreè$lw
Worco8t4rshlr•
WRS 3TB

forth• Ymr End•d 31gt Auyot
2021
Totat
fund6
¥ reststsd
Totsl
fvnd•
INCOME AND ENDOWIIEM FR(XI
Donationi and 18gaca•s
18.2
94.507
Ch•rll•bl• •etl¥lU
IX,2311
90,221
18
Totsl
142
189731
Ral8lrKJ
218
Chvltsbh a¢tMtI•¥
Tot•1
NET INCOMEI(EXPENDifuAe)
12,04n
(4A151
65,7
18
14415)
RECONCILIATION OF FUNDS
78283
&725
.988
21.228
TOTAL FUN08 CARRIED FORWARD
79 754 ￿1• ￿$7¥

•lanct Sheet
31•t A￿9￿¢ 2f
2022
Tolal
2021
Totsl
FIXED ASSEf8
TangNa assets
15
19.118
17.748
CURRENT ASSETS
D8btors
C•th at b￿k and In Iw¥J
18
1,167
187
26,072
17.31•
78.352
CREDITOR3
v*l*an y•w
17
P.U4)
P.8641
17.110)
NET CUIIREKf ASSEr8
Th7S4
2.81•
073
FUNDS
Unts8trpX￿ lunds
18
.754
19
78.263
TOTAL FUNDS
Tho dwrllablo company 1$ ¢nttl•d to •xwnpkn from und8r S•kn 4TT of Ctynpnlo8 2006 ￿ tho >*#r
•r#l•d 31at A￿U￿t 2022.
3111 Auty￿ 2022 kn acconlm ￿ Sedkn1476 Ollts CthiynlB¥ Ad 2
181 •n$uTing Ihbt Ihe dwtlth conN)gry thot Seclkx* 388 and 387 Lrf tho
cOr￿Tr￿ Act *vJ
opawfjTrJ 8tat8rnonts and (tyk vkn of statg of •ffalr8 of tho charilablel company
#t the end ol eath y•w ArKI of ts gWpI￿ of defidi lor fKwKial yoar in 8eo)rd•rt• wkn th
•qulr8m8nts ol S•eti¢Th 394 Jnd 395 wvj th• ot tho Compqnkn Act
2￿6 rglaiing to statthnents. ￿ lar 98 appfrpi49 lo Ihg dwllth 0)rn￿.
Ibl
8Lrtiodto the Mrnaif r•fv.
The finand
.. WKI ￿T0 119r*J bth￿ty.
P sheernn. Trust0•

forth• Ywr End•d 31st 2022
STATufoRY INFORMATION
Tru8tses' RW. In the Lrf ths ￿. in of thè guarantso Iwnited
to £1.
ACCOUPMNG POLiaES
BASIS OF PREPARIIIG THE FINANC￿ STATEIAEKTS
The fin8ncaal ststem8nls ol th• charitsbl? cornpony, a put* t*n•ll FRS 102. he￿ been
prepar&J In ￿￿¢10￿* vhlh th8 Chath SORP IFRS 1021 'Actwty RerK>rts'ng lry Ch•llies.' Statement
Rewllrg standa￿ aFpl*aL4* UK 8rn1 Rewt* of Ireland (FRS 1021 leff*tiv• 1 J#nuary 2019y, Financlal
Rewjrtlng Slandard 102 SIV￿ard ap￿￿£*• in th• UK Republ￿ ol Ird•)d' and th
INCOME
UatANU•8 ¥rg rwowl as a8 won AS bj • obyoatknn c>JmmMllrv
horty k* that e¥wdittx•. It Is wrknat4e that a of b8nofi18 w￿1 b• rw4wred in
Ihe am0￿* of the rt41gakn be ralatAy. ExpwKlhuwp 18 a9X￿nIed Ic* on an acLrual8 ba￿* and
hal bt8n d8•8M•J urrtJ8r h8adlTry bw •wreW& al cThl r•lthl to lh8 c41wy. VlTr•ro c*Jsts cannot be
TANGIBLE FIXED ASSETS
PAUS￿￿1 In•trum¢nts.
10% on (•i*K4FYJ td8
TAXATION
FUND ACCOUPIT114G
R￿)￿15 puid (yr8l¥y1oa808 ￿ thaffjod Ststrnrt d FInar¥￿ ktr*lll88 on o straight 1>88
over Ihe pgrbj rAthe lease.
thay rela
Pop7
Conlknu￿...

lor th• Ywr Endgd 31•t Augu￿ 2022
AccouimNG P¢XICIES. conlknu
DONATEO GOOD8 AND SER￿E3
the char*y.
FINANCIAL1148TRUMENTS
Flnandl Instrurnefbts l¥su8￿ ot FRS 102 to al cl its instn￿. Fh*rK481 ln6lrnme￿ m rno)gn*J
Financlal assets arn rAfBet, wilh lh8 not wnryJnlS Fre8•r1￿ in th& ato)unts wt¢re thern 18 a I￿ty Entrceat48
rlght to sot off the recogn658d 8rxl th8Te ￿ an to se100 on a net bBBts or to rv8lls8 tho 85set 8ThJ
al￿¢ Fln•n¢ld Au•ts
me88ured et trtnsadK)n Ind￿￿n9 tra￿￿ (yJ81s wb8wnty c¥1￿0 8t cost Uglng
8a•J¢ FIMrtW Uabllltl••
B88k flnandal IkgtAlllle8, trwje wxl payJW¢yJ. 8rt rwnl*d at trsn8aclycffi pth urfe
th• 8rr8ngwf￿t rJ)n8titut•8 a ISnar*￿& tran8adon. vAwro d•bt In81nJrn•nt & m￿S￿Od al th? pr•aMt v4u•
0)8rnllon8 from 8upF4in. Acc¢4Jn18 pay&4e wo daB8rW 88 liatsl#ie8 M pa￿1 IB wAthln y
1•08. ff not. tlw 8r• pr•gèntsd #s jK7fv￿rr•nl lablJM*& TrAd• p8yat4•8 4r• rnrtsaDMod inrbally at trenjac
co
Th8 m(*t r*Nl¢aL ac£¢xmtirv4 Th￿QoM$￿t lh* dow•d￿ rnt¢s for tsng1149 thad 8668ts. D*M8 fLY
thue ralm bo fouThl In ts accounllry pclde8 In TrJl¥ l value of t•wibbè as8•18 can
In rKA• 14.
fwst4m8rn dwln9 the eurrnnt flrWm)￿ >wr. Ttr￿ vth• •c<¥uwJ kn¢frfn• b•found In note 15.
D¢)NATION8 AND LE¢)AC*S
2021
Donatlcm
Grnnts
4049
9,7
83.017
OONATED SERVICES AIID FAwfiES
The Serv￿￿8 and fwilibej d £1.785 {2021: £1.7(Xl) r8latss kn th• irKknpeThJert examI￿￿on

for Il* YwEn(l•d 31•t AUW 2022
14.874
5.000
63.143
10.oc
Umcge8 CharttaL48 TnJBt
Worcoster (Jty Courna
4000
IP4VESTMENT IPKOME
a• r•Jt8tod
18
CNgrftgt4•
R•ol8trakn f
MUS￿ le880n6
Exam f•08
91.725
3.790
84.333
3.604
23
1.en
4191
caaws wp8
Rotyn trare
18.747
7,31
855
Mu8k Ub
Sundry In¢(¥T*
J02
241
HAl¥r￿LE ACIMnES COST8
Costs Is
noto 81
¢>)sts (Bae
r￿? g)

for th• Y•*r End•d 31•tA• 2022
2021
as [￿lated
Music lessc
50,709
4.111
3.144
S¢hod r￿C￿rt tslk¥
Classos and gro
InStrwn￿l r￿￿or$
MUS￿ Litrary
Sundry Exp
DepredatK
Bad d8bts
Rol￿
12.121
5,815
20
1.973
1125
TotslB
10.
NEf IN¢OIAWIEXPEIIDITUREI
&125
3.750
l•)0
1.905
36
1.973
S.WO
3,706
Hlrè ol plant 8A¥J m8ch*
Independont Ewiner fee If*J8wdent ExAmtnal
72
f1.
•Nlgd 31st +ItyJ￿1 2021.
TR118TEW EXPEMSE8
31st Aw8t 2021.
12. 8TAFF cosr8
21rk1
38,071
438
Other per￿knn L¥>Ets
2021
mbnlstrat
P•go 10
(￿tin￿ld...

forth• Y•ar End•d 31*t AwJu•t 21122
11 sfAFF cosrs. coTrtlnu•d
Total
a8 r•stat•d
OIAE AND EMD(Y•IMEPn FRO
89,107
94.￿7
85221
95.221
Investmnt Incom
Total
B￿Skn9 funds
216
216
Ch•rlt•bl• •¢tlvlll••
C￿rttat￿•
123 755
Total
123 971
MEf INCQIIE
Trn￿•f￿ l¥•tw••n ￿thd•
65.780
1.71S
65,760
AECONCILIAYK￿ OF FUP•)S
14.218
7.010
21,228
TOTAL FUNDS CARRED FORWARD
P*Je11
conlonued...

Y••r End•d 31•tAw*t 2022
15. TANG18LE FIXED AS￿s
Musul
knstnfftiont
equipmemt
Al 1st S•ptwnbor2021
Ai 318tW2022
DEPRECIATION
At 1st S9Pt9mber 2021
47.803
At 318tAW 2022
NEf BOOK VALUE
Ai 318t August 2022
Al31st￿￿912￿2l
10. DE8TOR8: APIOUNTS FALL14G DUE Iimiw IYIE YEAR
2022
2021
Tradtr debtorn
Cth8r d•biors
472•
8.4W)
10
17. CftEDifoR8: AM(YJNT8 FAWNG DUE IIITHM OME YEAR
2022
1,649
197
1,774
Other cr￿1￿01￿
1.5&1
Deferrgd relateB to fe86 T￿e￿j in tho accountw¥ year lor hthj after 318t
•nd i• not r•c44ri#•d in thy4 F*KJd.
12
conlknued...

fof th• Ymr End•d 31*1 Awt 2tyI2
At 1.921
in funds
31.8.22
11047)
3.530
79.7J4
SdK4arnhlp fijnd
P H1￿Irrfj Mem￿1
trumenl fv￿J
313
313
1488)
Dem8nt4a coTh7rt furKI
Equ¥Jmgnt and mk8¢dlaDwJu8
100
100
And lund
914
TOTAL FUMDS
Int￿11
In ftTh18
Unr••trl¢t•d fvnd•
Grffjor81 fiJThJ
142.411
{144.Y51
1104n
Worcester c￿￿MY￿ FwKlalcn
and cO￿d lund
12.368)
TOTAL FUNDS
142
1$
Trnnsf•rn
At 1.920
31.8.21
Ilnr••trlct•d
G￿vr￿ fiJnd
14218
78,263
{w)
S￿￿tarsh￿l
P Harding m￿On￿ fw
Instrument I￿j
R8futhL8hment fvnd
Music Makirg fuTrJ
313
313
8C
t.09S
3.050
1.120
125>
(4501
(1.17TI
1(Kl
Equiw•nt and ffli5cellanwus rwlr fuThJ
85
and cO￿d fijnd
2,892
8.725
TOTAL FUND8
21
Pap 13
conUN•J...

for th• Ymr End•d 3151 Au￿1 2022
18. AIOVEMEiif IN FUMDS. cwdknu•d
eXpW￿ed In funds
Genfrrd
184.331
1121.463>
R••trl¢t•d fvnd•
Spécial E<kK#OcA)al N•eds fuThJ
In?￿l￿onI fur*l
Equ￿n￿l and n￿c￿￿n￿u$ 1yrfu￿1
14501
(251
1315)
149Jl
125}
arml covij
TOTAL FUNDS
123 9711
PURP08E OF FUla>S
UNRESTRICTED FUND
by th• TnAt••
RESTRICTED FUNDS
Sp•clal Educallon•l N••d• Fund
8cholar•hlp Fund
Thls fund Is rnslrfcted for th• rj ft* 8trln9 brn88
P H*rdlng IA•morfd F¢wxl
Th18 fuThJ w98 U•At•d In tho rrf P Il* purp(w an ￿18¥y.
R•furblshm•nt FWMI
Mu•lc M•klng Fund
D•m•nth Cone•rt Fund
Equl>nwrt •nd lffj•c•ll•n•ou• R•p•tr FIN
WorE•¥t•r Communlty F*)und*lon Cleanlw and Co¥ld Fund
During the year £3,050 vra5 Iran￿￿T￿y frr*n Ihe reslJkW RthMt*51Thent Fund the GBn•ral Fvnd and £488
was IMsf8rrod frcth r•strlcl•d Ir￿trUment Ffftl General Furnl, rWreS￿ the v4lu& ol cW81
Page 14
c￿￿"rIU￿...

forlh• Y••r End•d 31st Augu•t 2W22
18 also a Director. No foe was Ihis arKI lheref￿ a d￿at￿l servM* of £1,78512021'. £1.7001.
Pagè 15