REGISTERED COMPANY NUMBER: 02233308 (England and Wales)
REGISTERED CHARttY NUMBER: 701309
Report of the Trustees and
Financial Statem8nts for the Year Ended 31st August 2024
The Elgar School Of Music Limited
Th8 Richards Sandy Partnership
ThOme1￿ House
25 Barbourne Road
Worwter
WOr￿tershIre
WR11RU

The Elgar School Of Music Limited
Contents of the Financial Statements
for the Year Ended 31st August 2024
Page
Reference and Admlnlstratlve Details
Raport of the Trustses
2 to 3
Independent Examinevs Report
Statement of Financial Acllvltles
Balance Sheet
Notes lo the Flnanclal Statements
7 to 15

The Elgar School Of Music Limited
Reference and Administratlve Detslls
for Ihe Year Ended 31st August 2024
TRUSTEES
P Sheeran {Chair)
S l Humes
N P Sandy
I Venables
K Dixon
REGISTERED OFFICE
16-20 Deansway
Worcester
WR12ES
REGISTERED COMPANY NUMBER 02233308 {England and Wales)
REGISTERED CHARITY NUMBER
701309
INDEPENDENT EXAMINER
Th8 Rithards Sandy Partnership
Thorneloe House
25 Barboume Road
Worcester
Worcestershire
WR1 1RU
KEY MANAGEMENT PERSONNEL K Fawcett
Chief Executlve Officer
N Tsuzaki
Head ot School
BANKERS
HSBC
44 Broad Street
Worcester
WR12EJ
CCLA Investment Management Limited
One Angel Lane
London
EC4R 3AB
Page 1

The Elgar School Of Music Limited (Registered number: 022333081
Report of the Trustees
for the Year Endod 31st August 2024
The trustees who are also directors of the charty for the purposes of the Companies Act 2006, present their report with
the financial statements of the charity for the year ended 31st August 2024. The trustees have adopted the provisions of
Accounting and Reporb'ng by Charities.. Ststement of Recommended Practic8 applicable to charities preparing their
accounts in accordan￿ with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 102)
(effective 1 January 20191.
OBJECTIVES AND ACTIVITIES
Objectives and aims
The principal object of the company in the period under review was that of a registered charity engaged in the promotion
and provision of music education. and in nurturing a comprehensively inclusive community through live music
opportunities. The objects were achieved by the provision of music lessons and musical activities.
Public benefit
The trustees confim that they have complied with the duty in Section 17(5) of the 2011 Charities Act to have due regard
to guidan(* on public benefit published by the Charity Commission when reviewing the charity's objectives and in
planning future activities.
ACHIEVEMENT AND PERFORMANCE
Charitable activities
The number of enquiries for music lessons and group sessions has Continued lo increase post-pandomic. The
Community Choir is flourishing again under RebecGg Atherton. with numbers starting to recover following 8 big dip
during and following the COVID epidemic.
A new group for pre-school children was established during 2023-24, incorporating Music Makers for toddlers and Tiny
Tunes for babies. The s¢hool is working on becoming more of a Community Arts C8ntr8, With the University of Ihe 3rd
Age IU3A) starting music well-being sessions and the school encouraging extemal hire from individuals and groups.
Six new teachers joined th8 school during the year to provide lessons in violin, singing, plano, recorder and woodwind.
The school has been responsible for the county music library for the last few years and we hav8 comp18ted its move into
the sch¢)ol from Malvem Gate, with a small ovethow c#Jrrently housed in Huntingdon Hall courtesy of Worcester
Theatres. The library is already proving lo be of great benefft in lemis both of income for the school and resources for
the teachers and pupils within it.
The schtJ)I continues lo ba tha Worcestgr c&ntre for both A8RSM and Trinity Mu$1¢ exams., apart from th8 income from
thase we also benefft from enquiries about lessons from those sitting exams I carers and parents.
We have stsrted approaching other arts organisations based in Worcester to establish a Closer and more tangible
wod(ing relationship, one that can be evidenced when applying for Arts Council. Lottery and Trust funding in futura. The
first of Ihese was the English Symphony Orchestra. and their chair and CEO havo approved it in principle.
FINANCIAL REVIEW
The nel result for the yèar was a deficit of £1,897 {2023- £8,803). This comprised of a deficit on unrestricted funds of
£1,897 {2023.. £7,779) and a deficit on restricted funds of £nil 12023.. £1,024). Unrestricted ￿serVeS, excluding ffixed
assets, held at 31 August 2024 were £54,59312023.' £54.7691.
Total reserves as at 31 August 2024 were £71.87312023= £73.770). Ix)mpri5ing unrestricted resetves of £70.078 {2023-
£71.9751 and restricted reserves of £1.79512023= £1,795}-
Whilst the trustees consider an appropriate minimum level of free reserves should be four months of the charity supwrt
costs which represents a figure of £19.500. we have now ex￿eded our further aim to covor six months support cost
expenditure (£29.5001.
STRUCTURE. GOVERNANCE AND MANAGEMENT
Governing document
The charitable company is controlled by tts goveming documont. the Memorandum & Articlgs of Association dated 21
March 1988. as amended by special resolution 27 February 1989, and constitutes a limited company. limited by
guarantee. as defined by th8 Companies Act 2006.
None of the trustees have any beneficial int8rest in the company. All of the trustees are members of the company and
guarantee to ￿nt￿bUte £1 in the event of a winding up.
Page 2

Thè Elgar School Of Music Limited (Registernd numbor: 022333081
Report of the Trustees
for the Year Eftdèd 31s1 August 2024
STRUCTURE, GOVERNANCE AND MANAGEMENT
Recruitfflent and appointment of new tru5tee5
Trustees are appointed, by the members in general meeting. New trustees are provided with copies ol the most receTrt
annual report and accounts, a role description of the responsibilities of a trustee, a copy of th8 Memorandum and
Articles of Association of Elgar School of Music Limited. copies of re￿nt minutes of meetings and a copy of the Charity
Commission publication, 'Responsibilit18s of Charity Trustees". New trustees also have an induction session with the
Chair.
Risk management
The school's management and governing body are continually monitoring and assessing potential risk. The main areas
of focus are Health and Safety and Child Protection. All polictes a￿ ￿vieWed and updated annually and made available
to all members of staff, self employed tutors and users of the school. There have been no incidents to report and the
school continues to ensure safe and legal practi￿8.
This report has been p￿Pared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating
to small companies.
3r3 bec loJk
Approved by order of the board of tNslees on ............................................. and signed on its behalf by".
P Sheeran - Trustee
Page 3

Independent Examinerfs Report lo the Trustees of
The Elgar School Of Music Limiled
Independent examiner's report to the trustees of The Elgar School or Music Limited ('tha Company
l to the tharity thjstees on my examination ofthe accounts of the Company for thè year 8ndad 31st August 2024.
Responslbllltles and basis of report
As the charivs trustees of the Company (and also its direclots for the purposes of company lawl you are responsible
for the preparation of the accounts in accordance with the requirements of th8 Companies Act 2006 Ilhe 2006 Act,).
Having satisfied myself that the accounts of the Company are not required lo b8 audit8d under Part 16 of the 2006 Act
and are eligible for independent exarnination, I report in respect of my examination of your charity's a(xounts as carried
out under Section 145 of the charities Act 2011 I'lhe 2011 Act'l. In ¢arrying out my gxamination I have followed the
Directions given by the Charity Commission und8r Section 145{5) (bl of the 2011 Act.
Independent examinerfs statement
I have completed my examination. I confirm that no matters have o)me to my attention in connedton wth the
8xamination giving me cause to believe..
accounting records were not kept in respect of Ihe Company as r8quir8d by Secllon 386 of the 2006 Act., or
the accounts do not accord with thos& records., or
the accounts do not comply with th8 accounting requirements of Section 396 of the 2006 Act other than any
requirement that the accounts give a Irue and falr view which is not a matter considered as part of an
independent 8xamination', or
the accounts have not been p￿pa￿d in accordance with the methods and principles of the Statemant of
Recommended Practice for accounting and repo￿ng by charities (applicable to charitias preparing their
accounts in accordance with the Financial Reportlng Standard applicable in the UK and Republic of Ireland (FRS
102)).
I have no concerns and have come across no other matters in oonnedion with the examination to which attention should
be drawn in this report in order to enable a proper understanding of the a¢¢ounts lo be ￿8¢hed.
Melissa Jean Godwin ACA ACCA
The Assodatlon of Chartered Certified Accountants
The Richards Sandy Partn8rship
Thornelo8 HoLtSe
25 Bartr¥Jurne Road
Worcesler
W0￿8StershIre
WR1 1RU
Oate.. t4- IL-L4
Page 4

The Elgar School Of Musi¢ Llmlted
Statsmenl of Flnancial Activities
Ilncorporating an Income and Expenditure Account)
for the Year Ended 31st Augusl 2024
2024
Total
funds
2023
Totsl
funds
Unrestricted
funds
Restricted
funds
Notes
INCOME AND ENDOWMENTS FROM
Donations and lega￿eS
8,689
8.689
12,113
Charitable activities
Charitsble Activities
139,607
139.607
129.784
Investment income
1.020
1,020
655
Total
149,316
149,316
142,552
EXPENDITURE ON
Raising funds
216
216
216
Charitable activities
Charitable Actlvities
150.997
150,997
151.139
Total
151.213
151,213
151,355
NET INCOMEI{EXPENDITURE)
{1,897)
(1,897)
{8,8031
RECONCILIATION OF FUNDS
Totsl funds brought forward
71,975
1,795
73,770
82,573
TOTAL FUNDS CARRIED FORWARD
70,078
1.795
71,873
73,770
The notes farn part ofthese financial State￿Ents
Page 5

The Elgar S¢hool Of Music Limited (Registered number: 02233308)
Balance Sheet
31sl August 2024
2024
Total
funds
2023
Total
funds
Unrestricted
funds
Reslrict8d
funds
Notes
FIXED ASSErs
Tangible assets
15
15,485
15.485
17,206
CURRENT ASSETS
Debtors
Cash at bank and in hand
16
4250
56,622
4,250
58,417
7.645
53,177
1,795
60,872
1,795
62,667
60,822
CREDITORS
Amourrts falling due within one year
17
{6,279)
{6.279)
14.2581
NET CURRENT ASSETS
54593
1,795
56.388
56,564
TOTAL ASSETS LESS CURRENT LIABILITIES
70,078
1,795
71,873
73,770
NET ASSETS
70,078
1,795
71,873
73,770
FUNDS
Unrestiicted funds
Restricted fvnds
18
70,078
1,795
71,975
1,795
TOTAL FUNDS
71,873
73,770
The charitable company is entitled to exemptSon from audit under Sedion 477 of the Companies Act 20(￿ for the year
ended 31st August 2024.
The memkrs have not required th8 company to obtain an audit of its financial ststem8nts for the year ended
31st August 2024 in acLordance wrf(h Section 476 of the Companies Act 2006.
The trustees a¢knO￿edge their r8sponsibilities for
(al
ensuring that thg charitable company keeps accounting records that cx)mply wlih Sections 386 and 387 of the
Companies Act 2006 and
preparing financial stalam8nls which give a trua and fair view of the state ol affairs of the charitable company as
at the end of each financial year and of its surplus or deficit for each financial year in a¢xordance with the
requirements of Sections 394 and 395 and which otherwSse comply with the requirements of the Companies Act
2006 relatlng to financial ststements, so far as applicable to the charitable company.
(bl
These financial ststements have been prepared in accordance with the provisions applicable to charitable companies
subject lo the small companiès regime.
The financial statements were approved by the Board of Trustees and authoris8d for issue
. and were signed on its behalf by..
on
P Sheeran - Trustee
The notes fomi part of these financial stalements
Pag8 6

The Elgar S¢hool Of Music Limited
Notes to Ihe Financial Slatemonts
for tho Year Endod 31st August 2024
STATUTORY INFORMATION
The charity is a prlvate company limlted by guarantee, registered in England and Wales. The members of the
¢ompany are the trustees named in the Trustees, Report. In the event of the company being wound up, the
liability in raspect of the guarantee is limited to £1.
ACCOUNTING POLICIES
BASIS OF PREPARING THE FINANCIAL STATEMENTS
The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been
prepared in accordance wllh the Charities SORP (FRS 1021 'Accounllng and Reporting by Charities= Stalemenl
of Recommended Practice applicable to charities preparing their accounts in accordan￿ with the Financtal
Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 (effective 1 January 2019}',
Financial Reporting Standard 102 'The Financial Reporttng Standard applicable in the UK and Republic of
Ireland. and the Companies Act 2006. The financial stskmenls have bean prapared under the historical cost
o)nvenlion.
The accounts are prepared in slerfing, which Is Ihe fvnctional currency of the charity. Monetsry amounts in these
financial sta18manls ara rounded to the nearest £.
The charity is exempt from preparing a cashflow statement on the grourKls that it Is not a18rge charity.
INCOME
All income is recognised in the Statement of Financial Actiwties once the charity has entillgmenl to the funds, it
is probable that the income will be r8ceived and the amount can be measured raliably.
Income from grants (including gov8mment grant income) and donations, is recognised In the period in which the
(*arity Is entitled to recaipt and the amount can be measured reliably.
Income from tharitable activities for seNices provided is reco9nised in line wth the provision of those se￿iCe5.
EXPENDITURE
Liabilities are recognised as expendi￿re as soon as there Is a legal or constructive obligation committing the
charSty to that 8xpendilur8, it is probable that a transfer of economic b8nefrts will be required in settlement and
the amount of the obllgalion can be measurad rellably. Expenditure is accounted for on an 8c¢nJals basis and
has been classifiad under headings that aggregate all cost relaled to the category. Where costs cannot ba
directly attrfbuted to particular headings they have been allocAted to activities on a basis consistent with the use
of resources.
TANGIBLE FIXED ASSETS
Depreciation is provlded at the following annual rates In order io write off each asset over its estimated useful
life.
Musical Instruments, equipment
10% on reducing balance
Assets o)sting18ss than £100 are not capitslised.
TAXATION
The charity is exempt from corporation tsx on its charitable aCtiv￿e$.
FUND ACCOUNTING
Unrestricted funds can be used in accordance wilh the charftable objectives at the discrellon of the truste8S.
Restricted fund5 can only be used for particular restrfcted purposes within the objects of the charity. Rgstrictions
arise when specified by th8 donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fvnd is included in the notes to the financial statements.
LEASING COMMITMENTS
Rentals paid under operatSng leases are charged to the Statement of Financial Aclivitias on a straight line basis
over the pertod of the lease.
PENSION COSTS
The charitable company opeTales a defined contribulion ponslon scheme. Contributions payable lo the
charitable companls pension scheme are charged to the Stslement of Financial Activlties in the period to which
they relate.
Page 7
¢onUnued..

The Elgar School Of Musl¢ Limltsd
Nots$ to the Finan¢lal Statements - contlnued
for the Year Ended 31st August 2024
ACCOUNTING POLICIES - continued
FINANCIAL INSTRUMENTS
The charity has elected lo apply the provisions of Section 11. Basic Financial Instruments, and Section 12 '0ther
Financial Instruments Issues, of FRS 102 to all of its ffinancial instruments. Financi81 instruments are recognised
when the charity becomes paty lo contractual provisions of the instrument.
FinaneAal assets are offset, with the net amounts presented in the accounts where there is a legally Enforceable
right lo set off the recognised amounts and there is an intention lo settle on a net basis or to realise the asset
and settle the liability simultaneously.
Basic Financial Assets
Basic financial assets, which include trade and other receivables and cash and bank balances, are initially
measured al transaction pri￿ including transaction costs and are subsequenly carried at amortised cost using
the effective interest method unless the arrangement constitutes a financing transaction. where the transaction 15
measured at the present value of the future receipts discounted at a market rate of interest.
Baslc Flnanclal Llabllldes
Basic financial liabilities. including trade and other payables, are initially recognised at transactlon price unless
the arrangement constitutes a financing transaction, where the debt instrument is measured at the prasanl value
of future receipts, discounted at a market rate of interesl. Debt insttuments are subsequently ¢arried at
amortised cost, using the 8ffective interest rate method.
Trade payables are obligations to pay for go)ds or services that have been acquired in the ordinary course of
the operation5 from suppliers. Accounts payable are classified as current liabilities rf payment is due wtthin one
year or less. If not, they are presented as non-current liabilities. Trade payables are recryJnised initially at
transacfjon ￿St.
CRITICAL ACCOUNTING JUDGEMENTS AND KEY SOURCES OF ESTtMATION UNCERTAIN
Accounting eslimales and judgements are continually 8valLtated and are based on historical experience and
other factors. including eXp￿￿tionS of fvture events that are believed to be reasonable under the
circumstances.
The most critical accounting judgemenl Is in setting the depreciation rates for tangible fixed assets. Details for
these rates can be found in the accounting policies in note 2. The carrying value of tangible fixed assets can be
found in note 15.
DONATIONS AND LEGACIES
2024
2023
Donations
Grants
3.689
5.000
4.113
8,689
12.113
Grants received. induded in the atrK)ve, are as follow5:
2024
2023
Limoges Charitable Trust
The Roger & Douglas Tumer Charitable Trusl
5,000
5,0
3,000
5,000
8,000
Page 8
Gontinued...

The Elgar School Of Musi¢ Llmlled
Notes to Ihe Flnancial Statements - conllnued
for the Year Ended 31st August 2024
INVESTMENT INCOME
2024
2023
Bank interest
1,020
655
INCOME FROM CHARITABLE ACTIVITIES
2024
Charitsble
Activities
2023
Total
activities
Rggistration fe8S
Music lessons
Exam feés
Glasses and groups
Room hire
Sch￿1 concerts and talks
Music Library
Sundry income
760
107,997
5.683
17.398
4,623
725
95,919
6,753
15,749
5,675
1,016
3,086
861
2,799
342
139,607
129,784
RAISING FUNDS
RAISING DONATIONS AND LEGACIES
2024
2023
Fundraising eA)mmission
216
216
CHARITABLE ACTIVITIES COSTS
Direct
Costs (see
note 9)
Support
costs (see
note 10)
Totsls
Charitable Activities
92,949
58,048
150,997
DIRECT COSTS OF CHARITABLE ACTIVITIES
2024
2023
Music lessons
Exam fees
School Concert and talks
Classes and groups
Instrument repairs
Music Library
Sundry Expenses
Depreciation
Bad debts
Room hire
67,833
6N19
260
12,919
1,935
490
101
1,721
1,038
233
61,539
6.213
328
11,715
2,015
621
594
1,912
399
92,949
85.336
Page 9
continued...

The Elgar School Of Music Limited
Notes to the Financial Statements- conllnued
for the Year Ended 31st August 2024
10.
SUPPORT COSTS
Govarnance
costs
Management
Finance
Totals
Charitable Activities
54A13
1,067
2,568
58,048
Support costs, included in the above, are as follows:
2024
Charitable
Activities
2023
Total
activities
Wages
Pensions
Other operating leases
Rent
Rates and wat8r
Insurance
Ltght and heat
Telephone
Postage and stationery
Advertising
Sundries
Computer
Repairs and ren8wals
Cleaning
Legal and professional fees
Bank charges
Independent examiner
37.080
472
100
5,500
374
4.156
2.230
1.240
957
45,470
758
100
5.250
3,886
2,103
1.175
952
105
152
175
2.109
317
503
1,183
1,188
157
226
1,113
477
215
1,067
2,568
58,(148
65.803
11.
NET INCOMEIIEXPENDITURE)
Nel incomellexpenditurel is stated after chargingl{creditingl:
2024
2023
Depreaation - owned assets
Hire of plant and machinery
Other operating leases
Independent Examiner fee in respect of Independent Examination
Independent Examiner fee in respect of other accountancy ServI￿S
1,721
100
5.500
2.520
1.912
100
5,250
1.140
48
other operabng leases of £5,500 12023.. £5,250) relates to the premises rent paid lo Worcester Theatres in
respect of1 &20 Deansway, There is no formal rent agreemenL
12.
TRUSTEES. REMUNERATION AND BENEFrrs
There were no trustees, remuneralion or olher benefits for the year ended 31st August 2024 nor for the year
ended 31st August 2023.
Page 10
continued...

The Elgar School Of Music Limited
Notes to the Flnancial Slatements - continued
for the Year Ended 31st August 2024
12.
TRUSTEES, REMUNERATION AND BENEFITS - contlnued
TRUSTEES, EXPENSES
During the year ended 31 August 2024 there were no ttijstee expenses r&imbursed 12023.. one trustee was
reimbursed travel expenses of £2).
13.
STAFF COSTS
2024
2023
Wages and salaries
Other pension costs
37,080
472
45,470
758
37,552
46.228
The average monthly number of employees during the year was as follows..
2024
2023
Administration
No employees received emoluments in excess of£60.000.
Total remuneration paid to key management personnel during the year was £14,21012023'. £14,052).
14.
COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
Unrestricted
funds
Restricted
nds
Total
funds
INCOME AND ENDOWMENTS FROM
Donalions and legacies
12.063
12,113
Charftsble activities
Charitable Activities
129,784
129,784
Inyestrnent In￿Me
655
655
Total
142.502
50
142,552
EXPENDITIJRE ON
Raising funds
216
216
Charitable activities
Charitable Activities
150,065
1,074
151,139
Total
150,281
1,074
151.355
NET INCOMEI(EXPENDITURE
{7,779)
(1.024)
(8.8031
RECONCILIATION OF FUNDS
Total funds brought forward
79,754
2,819
82.573
TOTAL FUNDS CARRIED FORWARD
71,975
1,795
73.770
Page 11
(xjntinued...

The Elgar School Of Music Limited
Notes to the Financial Statements- contlnuod
for tho Year Endod 31st August 2024
15.
TANGIBLE FIXED ASSETS
Musical
instruments.
equipment
COST
At 1st September 2023 and
31st August 2024
69.096
DEPRECIATION
At 1 st Saplemb&r 2023
Charge for year
51,890
1,721
At 31st August 2024
53.611
NET BOOK VALUE
At 31st Augusl 2024
15A85
Al 31st August 2023
17,206
DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024
2023
Trade debto
Social security
Prepayments and accrued income
1,380
1,352
2,585
3,708
2.870
4250
7.645
17.
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024
2023
Trade creditors
Pensions
Other creditors
Deferred income
A¢crued expenses
473
437
108
1.238
256
2,219
1,929
239
3.638
6,279
4,258
Deferred income relates to music lesson fees collected in the year where the relating lessons were provided
after the year end. Last years deferred income provision has been fully released into income in the current year.
Page 12
continued...

The Elgar School Of Music Limited
Notes to the Financial Statements- continued
for the Year Ended 31$t August 2024
18.
MOVEMENT IN FUNDS
Net
movement
in funds
Transfers
be￿een
funds
At
31.8.24
At 1.9.23
Unrostrlcted funds
Gener21 fund
BU￿ary Fund
71,975
(1,897)
1500)
500
69.578
500
71,975
(1,8971
70,078
Restricted funds
Scholarship ￿rKI
P Harding Memorial fvnd
Instrument fund
Dementia (x)n￿rt fund
363
800
607
25
363
800
607
25
1,795
1.795
TOTAL FUNDS
73,770
(1.897>
71,873
Net movement in funds, included in the above are as follows..
Incoming
resources
Resources
expended
Movement
in fvnds
Unrestricted funds
General fund
149,316
(151.213)
11,897)
TOTAL FUNDS
149.316
1151,213)
{1,897)
Comparatives for movement in funds
Net
movement
in funds
At
31.8.23
At 1.9.22
Unrestricted funds
General fund
79.754
(7,779)
71,975
Restricted funds
S¢holarship fund
P Harding Men￿rIal fund
Instrument fund
Dementia concart fund
Equipment and miscellaneous repair ftjnd
Worcester Community Foundation deaning
and covid fund
313
363
800
607
25
607
100
(75)
185)
914
(914)
2,819
{1.024)
1,795
TOTAL FUNDS
82,573
{8.803)
73,770
Page 13
conlinued.-.

The Elgar School Of Music Limited
Notes to the Financial Ststemenl$ . conlinued
for thg Year Ended 31st August 2024
18.
MOVEMENT IN FUNDS - continued
Comparative net movement in funds, included in the above are as follows:
Incoming
resources
Resources
expended
Movement
in funds
Unrestrlcted funds
General fund
142,502
(150,281)
(7,7791
Restricted funds
Scholarship fund
Dementia COn￿rt fund
Equipment and miscellaneous repair fund
Worcester Communtty Foundation cleaning
and (x)vid fund
50
175)
1851
{751
(851
19141
(914)
{1.074)
(1.024)
TOTAL FUNDS
142.552
(151,355)
18,8031
PURPOSE OF FUNDS
UNRESTRICTED FUNDS
General Fund
The unrestricted general fund can be used for any charitable purpose wthin the charitys objects and approved
by the Trustees.
Bursary Fund
This fund has been created using donalions collecled from the funeral of Stephen Halstead in Aug-23 and will be
spent on awarding bu￿rieS.
RESTRICTED FUNDS
Scholarship Fund
This fund is restricted for the pufjyJse of providing schOla￿hlpS for string and brass pupils.
P Hardlng Memorial Fund
This fund was created in thè memory of P Harding for thg purpose of awarding an annual bursary.
Instrumont Fund
This fund is reslricted for the purpose of purchasing new musical instruments and equipment.
Dernentia Concert Fund
This fund is restricted for the purpose of holding ￿ncert$ for dementia patients.
Equipment and Miscellaneous Repair Fund
This fund ts comprised of donations re￿iVed for specific general purchases.
Worcester Community Foundation Cleaning and Covid Fund
This fund is restricted for the purpose of covering cleaning costs and covid-relatad activities.
TRANSFERS BETWEEN FUNDS
During the year £500 was transferred from the General Fund lo the Designated Bursary Fund. being a new
designated fund created using donations collected from a funeral in Aug-23.
Page 14
continued...

The Elgar School Of Music Limited
Notss to tha Flnan¢ial Ststements - continued
for the Year Ended 31st Augusl 2024
19.
RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31st August 2024.
Page 15