2023-08-31-accounts - The Elgar School Of Music Limited

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Contents ofthe Financial Statements
for the Year Ended 31stAugust 2023
		Page
Refemnce and Administrative Detags
Report ofthe Trustees	2	to	3
independent Examiner's Report
Statement ofFinancial Activities
Balance Sheet
Notes to the Financial Statements	7	to	14
Detailed Statement ofFinancial Activities	15	to	16

4.	DONATIONS AND LEGA	DONATIONS AND LEGA	DONATIONS AND LEGA	CIES- contin	ued
	Grants received, included			in the above,	are as follows:
						2023f	2022f
	HMRC - Coronavirus		Job	Retention Scheme			386
	Limoges Charitable	Trust				5,000	5,000
	The Roger 8 Douglas Tumor Charitable Worcester City Council				Trust	3,000	4,000
						8,000
5.	INVESTMENT INCOME
						2023 f	2022 f
	Bank interest					655	18
6.	INCOINE FROM CHARITABLE ACTIVITIES
						2023	2022
						Charitable	Total
						Activities f	activities f
	Registration fees					726	620
	Music lessons Exam fees Classes and groups					06,010 6,753 15,740	01,725 3,700 18,747
	Room hire School concerts and	talks				6,675 1,016	7,310 855
	Music Library Sundry income					3.086 861	2,042 24'I
						120,784	~125230
7.	OTHER INCOME
						2023	2022f
	Bank compensation						50
8.	RAISING FUNDS
	RAISING DONATIONS		AND LEGACIES
						2023f	2022
	Fundraising commission					216	205

for the Year Ende	for the Year Ende	d 31s	tAugust	2023
CHARITABLE ACTIVITIES COSTS
				Direct	Support
				Costs (see	costs (see
				note 10)	note 11)	Totals
				6	5	E
Charitable Activities				~85$$6	65,803	15«S9
DIRECT COSTSOF CHARITABLE ACTIVITIES
					2023 6	2022f
Music lessons					61,539	63,050
Exam fees					6,21$	3,144
School concert and talks					328	210
Classes and groups					11,716	12,121
Instrument repairs					2,015	1,885
Music Library					621	58
Sundry Expenses					594	340
Depreciation					1,912	2,125
Bad debts						238
Room hire					S99	855
					85,$36	83,506
SUPPORT COSTS
					Governance
	Management			Finance	costs	Totals
		6			2
Charitable Activities		63,432		~118$	~1188	66,803
NET INCOME/(EXPENDITURE)
Net income/(expenditure)	is stated after charging/(crediting):
					2023	2022
					5	8
Depreciation - owned assets					1,912	2,125
Hire ofplant and machinery					5,250	3,750
Other operating leases					100	100
Independent Examiner fee in respect of Independent		Examination			1,140	1,905
Independent Examiner fee in respect ofother accountancy			services		48	35

STAFF COSTS
					2023	2022
					5
Wages and sslaries					45,470	40,772
Other pension costs					758	508
					~45 228	41,280
The average monthly	number	ofemployees		during the year was as follows:
					2023	2022
Administration					5	5
No employees received emoluments			in excess of560,000.
COMPARATIVES FOR THE STATEMENT				OF FINANCIAL ACTIVITIES
				Unrestricted	Restricted	Total
				fund	funds	funds
					9	6
INCOME AND ENDOWMENTS		FROM
Donations and legacies				16,200		16,200
Charitable activities
Charitable Activities				126,230		126,230
Investment income				18		18
Other income				50		50
Total				142,498		142498
EXPENDITURE ON
Raising funds				205		205
Charitable activities
Charitable Activities				144,340	2,368	146,708
Total				~144545	2 368	146,913
NET INCOME/(EXPENDITURE) Transfers between funds				(2,047) 3,538	(2,368) ~3538	(4,415)
Net movement in funds				1,491	(5,906)	(4,415)
RECONCILIATION OF FUNDS
Total funds brought forward				78,263	8,725	86,988
TOTAL FUNDS CARRIED FORWARD				79,754	2819	82,573

TANGIBLE FIXEDASSE	TS
			Musical
			instruments,
			equipment
			6
COST
At 1st September 2022 and
31stAugust 2023			~69096
DEPRECIATION
At 1stSeptember 2022			49,978
Charge foryear			1,912
At 31stAugust 2023			~51 890
NET BOOK VALUE
At 31stAugust 2023			~17 206
At 31stAugust 2022			19118
DEBTORS:AMOUNTS FALLING DUE WITHIN ONE YEAR
		202$ 6	2022 f
Trade debtors		1,352	5,729
Social security		2,585
Prepeyments and accrued	income	~3708	2,438
			8,167
CREDITORS: AMOUNTS	FALLING DUE WITHIN ONE YEAR
		2023	2022
		6	6
Trade creditors		437	400
Pensions		108
Other creditors		1,238	1,559
Deferred income		256	488
Accrued expenses		2,219	1416
		~4258	3,863

MOVEMENT IN FU	N	DS
							Net
							movement	At
						At 1.9.22 5	in funds 2	31.8.23 f
Unmstdctsd funds
General fund						79,754	(7,779)	71,976
Restricted funds
Scholarship fund						313	50	363
P Harding Memorial	fund					800		800
Instrument fund						607		607
Dementia concert fund						100	(75)	25
Equipment and miscellaneous repair fund Worcester Community Foundation cleaning						85	(85)
and covid fund						914	~914)
						2,819	~1,024	1,795
TOTAL FUNDS						82,573	~8,803)	~73770
Net movement in funds, induded				in the above are as follows:
						Incoming	Resources	Movement
						rssour'ces	expended	in funds
						5	8
Unrestricted funds
General fund						142,502	(150,281)	(7,779)
Restricted funds
Scholarship fund								50
Dementia concert fund Equiprnsnt and miscellaneous repair fund Worcester Community Foundation cleaning and covid fund							(75) (86) ~914)	(75) (85) ~914)
							~1,074)	~1,024)
TOTAL FUNDS						142,552	~151366)	~8,803)
Comparatlves formovement			in	funds
						Net	Transfers
						movement	between	At
					At 1.9.21	in funds	funds	31.8.22
					5
Unrestricted funds
General fund					78,263	(2,047)	3,538	79,754
Restricted funds
Scholarship fund					313			313
P Harding Memorial	fund				800			800
Instrument fund					1,095		(488)	607
Refurbishment fund Dementia concert fund					3,050 100		(3,050)	100
Equipment and rnisceganeous			repair fund		85			85
Worcester Community		Foundation		deaning
and covid fund					~3282	~2358)		914
					~8725	~2,358	~3538	~2819
TOTAL FUNDS					86,988	~4415)		~82 573