REGISTERED COMPANY NUMBER.. 02233308 (England and Wales) REGISTERED CHARITY NUMBEIL. 701309 Reportofthe Tn¢00S tnd Fintnelal Statsmgnts for the Year Endgd 31st Atfjust 2025 The Elgar School Of Muslc Limit•d Thg lithards SaY P8rtn8r5kMp Thomeloè Hottse 25 Barboume Road Worcester Worcestsrshir8 WR1 IRU
T Elgw School Of Music Limitsd Contpnts of the FinawKial StateTnents tor the Year Ended 31st Augu$t2025 R•f•r•nee and Administrativ• Dgtails Report of tho Trust 2 to 3 Ind•ndent Examln•fs R•port ststemenl of Fln8n¢lal Adlvities Balanc• Sheet Notes to the Financial Staterngnts 7 to 14 Detalled SLitement of Flnanclal Actlvltles 15 to 16
The Elgar School Ot Mu¥ie Limlted RBf•rence and Admlnlstrative Detsil forthe Year Endgd 31st August 2025 TRUSTEES P Shegran Ichal) S l Humes N P Sandy Iresign•J 1.1.281 I Venables K thxon J Everard (appointed 24.4.261 A Walker lapFK)inted 24.4.261 A Willètts lappolnted 24.4.28} D Best18ppointed 24.4.261 REGISTERED OFFICE 1&20 Dean5way Worcester WR12ES REGISTERED COMPANY NUMBER 02233308 IEnglaThJ and wa$) REGISTERED CHARITY NUMBER 701309 INDEPENDENT EXAMINER Th9 Fb'chards Sandy Partnershlp Thomeloe Hse 25 BartMJurne Road worStr wOrStershIre WR1 IRU KEY MANAGEMENT PERSONNEL K Fawc£tt Chief Extr Offir N T$uzaki Head ol Scho¥)I BANKERS HS8C 4-6 Broad Street Worcester WR12EJ CCLA Investrnenl Managamant Llmited One Angel Lane London EC4R 3AB Page 1
The El9ar School 01 Music Lirnited Roport oftho Trust•gS forthe Yr Ended 31st August 2025 The tntst88s who ar8 a150 diraclorg of tt)e chaThiy for Ihe purpose5 01 th8 Compani8s Ad 2(K)6, prasent the r8port smth the financial ststements of the charity for th8 y88r 8nded 31st August 2025. The trust8e5 have adopted the prov15ions of Ar)xJunting and Reporting by Charities.. Ststement of Recnrnrnended Practice apPIable to charits88 preparing their aco)unts in aOrdan wth the Financial Rewrtlng Standard applicable in the UK and Republic of Iland IFRS 1021 leffectNe 1 January 20191. OBJEGTIVES AND ACTIVITIES Obje¢tNtis and alms Th8 prinupal object OF the tharity was to promote and provide for the athIanment of musical eduration and of the arts 9enerally and in (x>nnecbon ther8with to (yJrKJuct ¢8ry on awuir9 and dgvelop in th8 United lfjtydorn a ardIng or iJ8y siknwl or schools. lleg8 or cdleg98 for the ftjrther ethcation ol children a1 or aduts and b supprrt any Charitsblg assooalion or bcKly and to sUbSrbe money for Charitab purpxes. The objecis were achiev¥J by the promsion ol music lessons and rnusical activthes. Public benefit Th9 trustees (x)nfirTh Ihat thgy have cornk111 vAth the duty in $tIOn 17151 of thg 2011 Ch11 AL to havg dug r9gard to guKlance on public benefit blIshed by the Charity CmISsion wh8n rewewiro th8 th8rity8 titiecti¥es and in plannlng fulure actsvities. ACHIEVEMENTS AND PERFORMANCE Chorltable actlvltles The school has wntinued to 1-1 lessons on all sots ol instruments and in all types of Sty to both thiklren and adults. It has b88n notieèabla sinca COVID Ihat the numb8rs of adults &sktn9 for lassons has inc$BaS and thè num of ChIren slightty18SS. The scool runs a varfoty ol In9trvmental groups.. stfino ord)estr8. b8r(4ue ènsemble, pzz band. ffute groL4P. loH( group, recorder wnsort, VK)I con50rt and 1nd band, alg with a commLtnty choir. The school has rwst8blish8d its Mini Musc Mak8rs group for pr&-schl children. The move ofthe wunty MUSK library into the 8¢hool has been coMetd. Tho schod o)ntinues to be the masn centre Sn the area for ABFiSM and Trfnty music exarns - and ccrtinues to receiv9 lesson enqulries frcffi those that sitthem. FINANCIAL REVIEW The chadty made a net defirjt for the yearof£91912024.' ngtdefldt ofe1,8971. Unr85trict8d r858rvEs, 8xduding fixed assat4 h8hJ atth8 year ènd wa5 £54.89912024.. £54,593). Total reserves as at the year end was £70,g64 12024.. £71.8731, cA)mprksing unrestiicted reseNes of £69,169 12024.. £70.0781 and resth'ded r9s&rv¢s of£1,79512024.. £1.7951. Th8 Iwust8e5 consider an appropriate mlnimum level of free reserves Shou be $rA monlh$ of Ihe ¢h*ity supp)rt (Dsts whlch represents a figure of £30,94012024: 29.0241. At the year end the charlty held reserve to approxlnately 11 months12024.. 11 months) of t(lal support costs for thè year, atthough the charity has been making small defrits in the last few years. STRUCTURE, GOVERNANCE AND MANAGEMENT Govèming docum•nt The chatable rnpanY is contrOld by its Vem17q dooJm9nL thg Menx)rdndum & Artides of Associaiicn datgd 21 March 1988, as amended by sp8ual OlutiOn 27 February 1989, and conststrrtes a linited Company, limited by guarants8, as Ilefined by Companles Act 20. Non8 of th8 tru5t8e5 have any benekial interest in the company. All of the trustees are members of the ccynpany arKI guarantee to contribute £1 in the eveni of a winding up. Recrultrnent and appointmentof new trusiees Truslees are appointed. by the members in general meetirKJ. New tnths a provided with ccy8s of Ihe nTr)3t rTrt annual report and ants, a role descaiption of thg sponsibl11119S of a twstee, a ccpy of the Memorandum and Arb'cles of Association of Elgar Schx4 of Music Llmrted, copies of recent mlnutes of meetings and a copy of the ChaAty Comrnissin publTrtion, Tr85pDnsibilits85 of Charity Trustses.. New tru5t8es a150 have an induction s85son wilh the Chair. Page 2
Thg Elgar Sclbjol Of Muslc Llmited Report ofthe Tru5tee5 forthe Year Ended 31st Augugt 2025 STRUCTURE, GOVERNANCE AND MANAGEMENT Rlsk managernènt Thè sdKds management and govemlng body are continually montt()ring and assesslng potsntial rtsk. The main are8S of ftxus are Health and Safety and Child ProtectK)n. All policies are reviewed and updated wnualty and rnade avallable to all members of staff, Se arnoYed bjtors and users of the school. There hav8 bEen Th) ldentr to raFw)rt and the sthool rnntinues to 8nsuie safe and 81 prdctices. This report has be prepared in aco)rdance with thè speck21 provisK)n5 of Part 15 of the CompanYa5 Act 2(N)6 reLqting to srnall companlgs. Approved by order of Ihe board of truste88 on............... .. . and slgned on its t*haff by. P Sheeran- Trustee Page 3
Independent EnInerf5 Report to the Trustee5 of The Elgar School Ofmuslc Llmlted Independent examin8rfs r8PXtto the trustees of The Elgar School Of Musle Umlted (Yhe ¢ompanYI I reportto Ihe thlty trustees on my examinatK)n ol the accounts of the Company for the year ended 315t August 2025. RPOnsIbIlitieS and basis of rèport As the eharrtls trustees of the Company land 8150 its drectors for the purpose3 of c(xllpany lawl you are pOnSib lor th8 W8paTrtion olthe acwunts in acts)rdan with the reqiArwn•s ol the Companies Art 20Cfj Cth8 201% ACYI. Having sabsfied my58lf Ihat the accounts of the Company are not requir& to be audit under Part 16 01 the 2006 Act and are eligible for ind8pendent 8x2minatvJn, I report in resFect of my examination of your charlty's accounts as carded out under SectiM 145 of the Charth'es Art 2011 lkne 2011 Act'l. In eArySng out my examlnalon I have followed the Direcbons given by the Charity ComrThs&on under SectK)n 14951 Ibl of th8 2011 Act. Indgp•ndent examinerfs stat8m8nt I hayg Wtnpleted my exatninatiDn. l 0)nfi that no wotters hav8 0)rne lo my attention in connection wrth thg 8xarnination giving rne cause to believe.. accounti records were not kept Tn respeet the Company as requffed by Secthc) 386 of the 2006 Act.. or the acrnunls do not a(xrJrd wth those remrds,. or the acLounts do not mplY wth the a¢(x)unting requirements of Sgion 396 or th8 20[ Act olhei than any rwuiremènt that the aco)unts gNe a tnJ8 lair view whrh 18 not a matt8r o)n5ider8d 8s part of an ind8pendentexamination.' or the aecourtts have mt been p¥epad in aC£ord ith the metrKJds and principlgs of the St8m8nt of Recornm8ndetJ Practic8 lor accounting arKI rew)rting by tharities lapplirble to charities preparing their accounts in aCrdanCe Nknith thè FnancHI Rep)rting Stsndard applicable in the UK and Republlc of Ireland IFRS 10211. I have no tnceM$ and have corne across no other r[tter5 tn nnection wlh the examlnation to whlch attentn should ba drawn in this port Sn order to enable a prop9r understanding ofthe awiunts to b8 r&ach. Meli&8a Jean GOdn ACA ACCA The AssociatK)n of charter C8rtffied Acclntants The Richards Sandy Partnerstwp Thornolc* House 25 Baaurne Road Worcaster Worc8St8rshitg WR1 1RU Oats.. ..L7 ...05. . Page 4
Tha Elyar School Of Music Limknd staI•mtOf Finandal Adiviti88 Ilncorporating an Income and Expendtlure kc¢)untl for the Year Ended 31st August 2025 2025 Total fvnd5 2024 Total hjnds Unre$trict&l Re5tritsd lunds Notes INCOME AND ENDOIYMENTS FROM Oonatlons and legaues 5,880 8,689 CharStable actlvltigs Charitable activitie5 143,782 143.782 139,807 Investsllent in(x)me 1,020 Total 151,024 151,024 149.316 EXPENDITURE ON Rai$ing fut¥Js 216 Charitsble &cVIlle$ charitab aCtiVe$ 151.933 151,933 150,997 Total 151,933 151,933 151,213 NET INCOMEIIEXPENDITURE) (909) 19091 11,8971 RECONCIUATrON OF FUNDS Total funds broughi forward 7078 1,795 71,873 73,770 TOTAL FUNDS CARRIED FORWARD 69,169 1,795 70,964 71,873 The nots8 fomi partoflhese finandal statements Pag9 5
Th¥ ElgarS¢hool Of Music Lirnitod Balan¢e Sheet 31st AwJust 2025 2025 Total fvnd$ 2024 Totsl nds Unrestrictsd funds Restrictgd nds Notès FIXED SETs Tangibl8 a&8ets 15 14270 14,270 15,485 CURRENT ASSErs D8btor5 Cash at bank and in hand 16 40,067 68.104 40,067 69,899 4,250 58,417 1,795 108.171 1,795 109.966 62,667 CREDITORS ArncHJnts falling due withln one year 17 153,2721 153.2721 16.2791 NET CURRENT ASSETS 1.79S 56,388 TOTAL ASSETS LESS CURRENT LWLIT1&8 69.1fj9 1.795 71,873 NAsSET$ 69,169 1,795 71.873 FUNDS Unresknrted fvnds Reshictsd fund$ 18 69,189 1,795 70.078 1.795 TOTAL FUNDS 70.964 71,873 The charitable company to exemption from audit unLr Sectb)n 477 of the Companigs A(a 20[ thg yoar ènded 31st August 225. The members have not required tro c(Jmpany to obtaln an audit of its financial statements for th8 year ended 31stAugust 2025 in aCcy)[dan with S0 476 ofthe Companies Act 20(. trustees acknedge thèir reswnsibilities fr)r ensuring that the charitable K¥npany k¢eps accfjunting TOrdS that )MPlY with slns 386 and 387 of IhE mpaniesAd 2006 and PPing finandal stalerrents whith give a true and f8ir Mew of th8 5ta18 of affair5 01 the ch8rita>18 comp8lly as at the ond ol each finan81 year and of its Surplus or defi1 for fInCIal year in acc¢Kdan with th8 quements of SectKJns 394 and 395 aThJ 1¢h otherw9 comply the requirgmgnts of tho Companies A¢t 2006 relating to finanoal statsrnerts, sts faras applicablè to tho Charitab o)mpany. lal Ibl These financial 5tatsrrents hav8 b88n prepwed in X(X)rdan wth Ihe provisions applicable to charitable (unpanies Sublt to tho sn7all o)mpanies regirne. Tha fina 'al statements were approved by the Board of Tru8te8s author188d fcf LSSU . .2G......... and were on ts behalf by.. on P sran- Twstee The notes forn7 partoltbese finanThal *atsments Pag8 8
The Elgar School 01 Muslc Limite(I Not85 to the Flnan¢i?I Stat8m8nts for the Y••r Ended 318t August 2025 STATUTORY INFORMATION Thg charity is a private company limrted by guarantee. registered in EngLqnd and Wales. Tho mernbgrs ol tha company are tho trustees named in tho Trustees, Report. In the event of the cornpany belng wound up. tha liablSty in wped of the guarantee is limit8d to £1. ACCOUNTING POLICIES BASIS OF PREPARING THE FINANCLAL STATEMENTS The finanoal statgmgnts of the tharitae company, whith is a publi benefit entity under FRS 102, have been ppared in ac£ordance with the Charities SORP IFRS 1021 kn(nting and Repon9 by Charitsas.. Staternenl ol R8cOmFneded Practic8 ap1¢able to ¢harities preparing their acixjunts in acrdanc8 With th@ Finandal Reporbng Stsndard appli¢ab19 in UK Republic of ItEL8nd IFRS 1021 lèffèctive 1 January 20191,, Financial R8porting Standard 102 'The FinancAal Reportsng Standard applicabl8 In the UK and Republic of IwL2nd' and thg Companies Act 2006. Th8 financol ststemants have been prepared er the historical co# convention. The aeeounts are propared in stedllyJ, whkh Is the functi(x)al currenGy ol the TTly. IAonetsry amounts in these financial 8tatern8nts are rouThJed to Ihe nearest £_ The charty is exemptfrom preparing a (*sMow staiemgrt on the gr(HJndg that Itls not a large tharity. INCOME l Inco is r$TriSed in th8 Statement of Financkql Activities On the d)8rity has entitlement to the fvKl$. it is probaNe Ihat the incx)rne will be re¢èived and the arjnI can bo measured rdiably. Incomo from grants lincludlng govemtn8nt grant Incorn81 and donations. is (J1¥ed in the pedcé in which the charty is entthd to receipt ar the amoL5nt can be MeaSud roliably. Irwme from charitsb$8 asV]ES for Sery1 provid8(l is recognlsgd kn line lIh the prowsion Df thos& services. EXPENDITURE Liabllities ar8 recognised as expendfture as soon as there is a tegal or (w8tructivè obligatbn cx)rnmitting tho charity to that expenditure. 11 is probable that a trdnsfer of econorn tsnefils wll be requiwd in setdem8nt and the amount of the obligation can b8 rnea5ured reliably. EXpeJra is accounted for on an accrual$ basis and has been da&sifi8d under headings that aggregate all 5t related to tre category. Where costs cannot be direclly attnbuted to particular headlngs they have been alkat to aLtivthes on a basis consistent with the u88 of r850ur¢e$. TANGIBLE FIXED ASSErs Depreciatiw is provided at the following amual rdtes in <)rdw to wite off eath asset OV9¥ fts estifnatèd us8lul Muslcal instruments and other equipmt 10% on rgducing balance Assets w5ting s$ than £100 8r& not capitalised. TAXATION The charlty is exernpt from cwrabcKI tax on ts chadtable actfvttses. FUND ACCOUNTING Unrestricted funds can be u58d in accordanc8 wdh the eharitable objectives otthe dtscretion of th8 tru8t688. Rèstricbd funds r2n only be used for particular restsicted wrpDSeS within the objerts of th8 charity. Restriction5 arise when specifigd bythe donoror when fund5 ar8 raised partKular restricted purrM)S8S. Further 8xplanatk)n ol Ihe naturB and purwjse of 8&h fu is ClUded in Ihe notes to the finan¢i81 stataments. LEASING COMMrrMENTS R8ntals paid under operating leases are Charg to Statsrn8nt of Financia ActivitP5 on a stranqht line basis overtha pèdod of the lease. PENSION COSTS The charitable wmpany opgrats$ a defined contribution p8nsion scheme. Contributions payable to the harItab companls n5n scheme are char to the statrrt ol Finandal ACt.V in the period to whlch they rel8t8. Pag8 7 ¢OnnUed...
The Elgar School OF Music Limitsd Notes to the Hnandal Statements- Gontlnue(I for the Year Endod 31st August 2025 AcCouNG POLICIES- eortlnued FINANCIAL INSTRUMENTS The tharty has elecbj to apply the provislon$ of Secbon 11, Basic Finanual In5tnxnents' and SectKJn 12 '0th8r FinanLial Instruwnents Issues, of FRS 102 to all of its financial instwments, Finan81 instrurnents are r9(x)gni8ed when the d)arity teomès party to cA)ntracbJ2J wowsions ofthe instrurn. Finanrial assets are offse¢ wth the r£t amounts presented in the accounts where the is a legaly Enforceable rfght to set olf the recogn5S amounts and ther8 an intention to 58tt18 on a net bass OK to r8alise the asset and settle the liability SInwtran1sIy. Baslc Financial Assets Basic finanaal ass8ts, which dude trade and other 1Vable$ and cash and bank balances. initi81ty rnea5ur8d at transaction pdce induding transaction costs an(J are subsoquenuy carried at arnortkqed cost u&ng the efftIVe interest mothod urtl8ss the arradement wnstitutes a finandng transaction, Whe Ihe transaction is measured at the present valu8 of the hjture rec8iPts discounted at a fflarket rate of interest. Ba$k Financia5 Liabilities Baslc ffinancial liabl1t$, Indudlng trade and other payabl8s, are inltlally rgnised 8t tran0 pr wl858 th8 arrdngern8nt constitutes a fn)ancing transacthon. where the debt instnjment is measured at the present val of future re¢8ipts, dis¢x)unt8d at a market rale of interest. Debt Instwrnents are sub8gquentty at arnorti8ed w5t. using the 8ffective INte$t rate method. Trade payables are obhgations to P8y tr g(Kxls s8Ntc8s th8t havè baan acqutrad In tha ordinary o)urse of thè operations from suppliers. Accnunts payabkg ar8 cl8&%ffi8d 8s current liabilities if payment is due within one year or loss. If noL they are presented as non<urrent liablllties. Tradg payablas arg rocognisad initlally at transadlon cost. CRITICAL ACCOUNnNG JUDGEMENTS AND KEY SOURCES OF ESTIMATION UNCERTAINIY unting lMateS and IAgements arè o)ntinually evaluated and are basgd on hiskn¢xl eXp9ri9n and other frdctors. includiw axEtI)nS ol future events that are believed to be reasonawe urKYer Ihe circJJmstsnc8S. The most crib(31 ac(x)untirwJ judgern8nt rs in 58tting lh8 depr8Clati rate5 for tsngible fixed assets. Detsil$ for Ihese rat8s can be tr)und in th8 arjnng in note 2. The carying value ol tangIb fixed assets can be found in note 15. OONATIONS AND LEGACIES 2025 2024 Don8tlons Grants 3,689 5.000 3,1)00 3080 8,68 Gr8nts rece. Inell In thg obove. aro as fdlow& 2025 2024 rncoes Charitablè Trust The Roger & DcMJglas Tumer Charitable Tru3t 3.Qlh) 3.QlJO 5.oc Pagg 8 continuod...
The E5gar School Of Music Umlted Not•s to the Financi#l StateMents-ntInu•d for tho Year Endgd 31stAugus12025 INVESThIENT INCOME 2025 2024 Bank interest 1.362 1,020 INCOME FROM CHARITABLE ACTIVITIES 2025 Ch8ritatrAè adv.8$ 2024 Total actiwtEs Rryistration fees Mu5i¢19ssong Exam fe85 Accompanist char CL95ses and grcups R(x)m hir8 sth0 concerts and lalks Music Library Sundry ino)m8 1.349 111,031 4.124 172 19A39 3.963 10 3.184 760 107,997 5,683 17.398 4,623 143,782 139,607 RAISING FUNDS RAISING DONATIONS AND LEGACIES 2025 2024 FundsIng oXnmlssn 216 CHARITABLE ACTwinES COSTS Dire Costs (see rK)t8 91 Support Jsts (see note 101 Totals Chaiitable adNrtie 90,054 61.879 151.933 DIRECT COSTS OF CHARITABLE ACTIVITIES 2025 2024 Music lessoD$ Exam fees Schwl corKert and talks Class85 atvj groups Instrument repalrs Music tibrary Sundry ExperL8es Depreciation Bad debts RM hiro 70,163 4101 67,833 6,419 10,265 2,705 12,919 1.935 59 1.587 1.010 126 101 1,721 233 90.054 92,949 Pagg 9 eonlinued...
The Elgar School Of Musi¢ Lirnitsd NO to th8 Financial Statements-contlnued forthg Year Ended 31st Augu¥t 2025 10. SUPPORT COSTS x)vèmance costs Management Financg Totals Charltablè athtl8S 59.085 1.096 1,698 61079 SuptM)rt rxsts. included in Ihe above, are as folk) 2025 Charltable acbMtie5 2024 Total wties Wages P8nsion5 Other opwatlng leases R9nt Rates and water Insuran¢9 Light and heat Telephone Postage and statnY AdvErtising Sundrles Computer Rep8irs and ran&wals Cleaning Legal and professonal f8eS Bank tharges Independent exafflingr 38,311 954 47 37,080 472 100 5.500 374 4,156 2,230 1.240 957 116 IS7 226 1,113 477 215 1,067 2.568 608 4,718 3,057 1,246 1,08S 357 667 1,114 1,276 145 1,096 1.698 61,879 58.048 NET INCOMEIIEXPENDrruREI N8t incomellexpenditurel is stated after ¢harglngl{credibngl.' 202S 2024 D8pr8ciation. owned assets Hirè of plant and machinery Other operadng leaseg Independ8nt Exarnin8rf88 in re5PEd of ITependent Examlnation Independ8nt Examinerfee in respect of other a(xountanGy soTrices 1.587 47 5.5110 1.650 1,721 100 2,520 ()her oper8lTng lsa5es r81ates to thè promises rent paid to Worcester Theatres in reSpt Lrf 1&20 08anwRy. for thich Ihgro is no fowrnal tst agreement. 12. TRUSTEES. REMUNERATION AND BENEFITS Therè war& no trustees, remuneration or Other benefits for the year ended 315t August 2025 nor for tt)e year end8d 31stAugust 2024. TRUSTEES, EXPENSES Ther8 were no trnLstaèg' axpens6s pakJ for the year ended 31 August 2025 nor for thè y&8r èrtded 31stAugust 2024. Pagg 10 Ilinued..
The Elgar School Of Music Limlted Notes to th• Financial Statemeb)ts. continued for the Yèar Ended 31st August 2025 13. STAFF COSTS 2025 2024 Wagès and salari93 Other pen&on (x)sts 38.311 954 37,080 472 39365 37,552 Thg avwage MCthlY number ol $moyeeS dltring y8ar was as follows.. 2025 2024 Aiiministrabon No employee5 r8celv8d eftN)luments in eX$S of£60.rA)o. Total rèmuneral¥)n pad to key management personnel during the yggr wa5 £14,59912024.. t14.2101. COMPARATIVES FIJi THE STATEMENT OF FINANcL ACTMTIES Unr8Strict&J hjnds 14. Restrict8d Total INCOME AND ENDOWMENTS FROM nations and legaci8S 8.689 8.689 Ch8rltsblg a¢Uvilltys Charitzble activitles 139.607 139.807 Investment in¢orne 1,020 1.020 Totsl 149,316 149.316 EXPENDITURE ON Raising fvnds 216 216 Charitable adivitios Charitable 150.997 150,997 Total 151,213 151213 NET INCOMEIIEXPENDITUREI 11.8971 {1,8971 RECONCILIATION OF FUNDS Total funds brought fOard 71.975 1.795 73,770 TOTAL FUNDS CARRIED FORWARD 70,078 1.795 71,873 Page 11 tinued...
The Elgar School Of Music Limited Note$ to th8 Financial Ststéments- ¢ontlnued for the Year Ended 31st August 2025 15. TANGIBLE FIXED ASSETS Muslcal instruments arml other equipmgnt COST At 1st Septernber 2024 Addikn'ons 69,096 372 At 31st August 2025 69A68 DEPRECIATION At 1st September 2024 ChaffJe for year 53.611 1,587 At 31st August 2025 SS.198 BOOK VALUE At 31st August 2025 14,270 At 315t August 2024 15.485 16. DEBTORS.. AMOUNTS FALUNG DUE WITHIN ONE YEAR 202S 2024 Trad8 dobtors Prop8yments * ac&0d 39.237 830 1,380 2,870 40,067 4,250 17. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2025 2024 Tr8de credito &val se(yJrity and othgrtaxas Pensions 0thgrc¥gditors Deferred income A¢¢N8d oxpgnsgs 724 473 196 239 1.929 3.638 47,906 S3,272 6.279 Deferred income relates to music tesson fees invoicad In tha year where the relating lessons are to be provided 8fterthe year eTh1. Last yea¢s deferred income provL8bn has been fvlly released into in(x)me in the currgnt year. Page 12 ¢tInUed...
Elgar School Of Music Limlt•d Notos tothe Flnaneial Stat•ments •continued for the Year Ended 31$t August 2025 18. MOVEMENT IN FUNDS Nèt ovemgnt in *Jnd$ At 31.8.25 At 1.9.24 unrestrict lunds General fund Bursary Fund 69,578 500 091 500 70,078 19091 69,169 R•strlct¢d fvnds Scholatship fund P Harding Memorial fund Instrument fund Dernonfja con¢8rt fvnd 363 800 607 2$ 363 800 607 25 1.795 1,795 TOTAL FUNDS 71,873 19091 70,964 Net mDvement In fiJnds, irKluded in the above are 88 folkms.. Incoming r980urces Resourcag expended Movem& in funds Unreslricted funds Gan8ral fijnd 151.024 {151.9331 190BI TOTAL FUNDS 151,024 1151.9331 Comparatives for movement in fund5 Net movem8nt In fvnd$ Transfers between funds At 31.8.24 At 1.9.23 Unrestricted funds G8neral fvnd Bursary Fund 71.975 11.8971 15001 69,578 500 71,g75 11,8971 70.078 Re5trict¢d fund$ SChohlp fund P Harding Memorial furM£ In8trutNentfund Dementia cOnrt fund 363 800 607 25 25 1.795 1,795 TOTAL FUND5 73.770 11,8971 71,873 Page 13 continusd...
The Elgar School Of Music Lirnited Notss totht Flnanclal Statem•nts- contfjnued for the Year Ended 315t Augus¢ 2025 MOVEMENT IN FUNDS-contiued ComparatNe tMoveMent in funds, included in tho atxwe are as knlk)ws: Incoming Resources Movement 8XFènd8d in funds Unr•strf¢t•d funds Gengral fvnd 149,316 1151,2131 11,897 TOTAL FUNDS 149,316 1151,213) 11,8971 PURPOSE OF FUNDS UNRESTRICTED FUNDS General Fund The unreS1ctod gene¢al fund can be used for any tharitat4e purpose within the ¢hariWs objth and 8pproved by Ihg Tntst885. Bursary Fd This fu1 has been created using donat)n8 collted from lh8 fiJner81 d steph HaL8te8d in Aug-23 and wll be spent on awarding bursaries. RESTRICTED FUNDS Scholarshlp Fund This fvnd is restricted frJrthe purpose ol provkjing schokrslips forstring and brass pupils. P Harding MErnorfal Fund Thls fund was cr8at8d in th8 mernory of P Harding fortha purp ofawarding an amual bursary. Instrumènt Fund This fund B tric1j forthe purKX)89 ol pwchasing n9w fflusl instrum9nts and equiprnenL Demgntla Concert Fund Thls fund b tricted forthe pJp)8e of h(Ading for dementia patients. Equlwient MISlIaneouS Rep31r Fund This fund 15 comprised of donations received for speofic g)eral purthases. Worc85t8r Comrnunity Foundation Cleaning and Covid Fund This fund ts trIcted for the purp)se of covering Cleani (x)5ts and iJ)vld-rdatgd a¢bviti&s. RELATED PARTY Dk8CLOSVRES There We rdated party tr8ns8di$ fortho ygar Sn 31stAugust 2025. Page 14
Th• Elgar Sth)ol Of Mus LknFted Dotsded Statemenlof Flnancial A¢tivili8S for tho Endod 31st August 202S 2025 2024 INCOME AND ENDOWMENTS Don?tion$ and legacies Donations Grants 2.880 3.000 3,689 5.000 5,880 8,669 Investment Inm¢ Bank interest 1.020 Charltable aclivrts Registration fees Music lessons Exam fees Awmpan& charges Classes and group5 Room hlre School cowArfs and talks Music Library Sundry Inc9 1,349 111,031 4.124 172 19.439 760 107,997 5.683 17,398 4,623 10 3.184 2.799 342 143.782 139,607 Total Incomlng resources 151,024 149,316 EXPENDITURE Ralsln9 donalitins and legac188 Fundraising IMIssn 216 Charltsblg acti¥6tles Music lessons Exam fees School cortort and tkS Clavd85 and groups Instrument rèpatrs Musi¢ Library Sundry Expenses Doprooation Bad debts Room hirp 70.163 4,101 67033 6.419 260 12,919 1,935 490 101 1,721 1.038 233 10.265 2.705 1.$87 1,010 126 92.949 Support costs Management Wages penOn$ other operating leases Rent 38.311 954 47 s.soo 37.080 472 100 5,500 374 4,156 2230 1,240 51,152 Insurance Light and he T81ephone Carfed foard 4,718 3,057 54A41 This doas Th)t hmi partol lh8 stalut(ry financa81 statèments Page15
The Elgar School OIMu8ic Limitqd Oelaibd Ststsm•nt ol Flnanclal Actlvotks for the Y•ar End 31st August 2025 2025 2024 Management Brr)ught ILard Pc>st8g8 and StatI&ty Advertising Sundries CompLAer Repair5 aThJ ron&wals Cleaning Legal 8nd pr0fèsonal foes 54.441 1,085 51.152 957 116 157 357 1.114 1.276 145 1,113 477 215 59,085 54,413 Flnanc• Bank charges 1.096 1.06T GoveMon ¢tssts Inderent gxarninar 2.568 Total resourc4s expended 151,933 151,213 N•t •xponditurn 19091 11.8971 This page dces nc*fomi partol the statutory finanLaal 8ts14nents Pagg 16