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 Sa￿Y 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 H￿se 25 BartMJurne Road wor￿St￿r wOr￿StershIre WR1 IRU KEY MANAGEMENT PERSONNEL K Fawc£tt Chief Ex￿tr￿ Offi￿r 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 Y￿r 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 apPI￿able to charits88 preparing their aco)unts in a￿Ordan￿ wth the Financial Rewrtlng Standard applicable in the UK and Republic of I￿land 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 athIan￿ment 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 a￿1 or aduts and b supprrt any Charitsblg assooalion or bcKly and to sUbSr￿be 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 cornk11￿1 vAth the duty in $￿tIOn 17151 of thg 2011 Ch￿11￿ AL* to havg dug r9gard to guKlance on public benefit ￿blIshed by the Charity C￿mISsion wh8n rewewiro th8 th8rity8 titiecti¥es and in plannlng fulure actsvities. ACHIEVEMENTS AND PERFORMANCE Chorltable actlvltles The school has wntinued to 1-1 lessons on all sots ol instruments and in all types of Sty￿ to both thiklren and adults. It has b88n notieèabla sinca COVID Ihat the numb8rs of adults &sktn9 for lassons has inc$BaS￿ and thè num of ChI￿ren slightty18SS. The sc*ool 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, al￿g with a commLtnty choir. The school has rwst8blish8d its Mini Musc Mak8rs group for pr&-sch￿l children. The move ofthe wunty MUSK library into the 8¢hool has been coM￿et￿d. 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 cha￿table ￿rnpanY is contrOl￿d 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 r￿Trt annual report and a￿nts, 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￿ arn￿oYed bjtors and users of the school. There hav8 bEen Th) l￿dentr￿ 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 E￿nInerf5 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 th￿lty trustees on my examinatK)n ol the accounts of the Company for the year ended 315t August 2025. R￿POnsIbIlitieS 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 Sgi*on 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¥epa￿d in aC£ord￿￿ *ith the metrKJds and principlgs of the St*8m8nt of Recornm8ndetJ Practic8 lor accounting arKI rew)rting by tharities lapplir*ble to charities preparing their accounts in aC￿rdanCe Nknith thè FnancHI Rep)rting Stsndard applicable in the UK and Republlc of Ireland IFRS 10211. I have no t￿nceM$ and have corne across no other r[￿tter5 tn ￿nnection wlh the examlnation to whlch attent￿n should ba drawn in this ￿port Sn order to enable a prop9r understanding ofthe awiunts to b8 r&ach￿. Meli&8a Jean GOd￿n ACA ACCA The AssociatK)n of charter￿ C8rtffied Accl￿ntants The Richards Sandy Partnerstwp Thornolc* House 25 Ba￿aurne Road Worcaster Worc8St8rshitg WR1 1RU Oats.. ..L7 ...05. . Page 4 Tha Elyar School Of Music Limknd staI•m￿tOf 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 &c￿VIlle$ charitab￿ aCtiV￿e$ 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 70￿78 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 N￿AsSET$ 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 unL*r Sectb)n 477 of the Companigs A(a 20[￿ thg yoar ènded 31st August 2￿25. 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 S￿￿0￿ 476 ofthe Companies Act 20(￿. trustees ackn￿edge thèir reswnsibilities fr)r ensuring that the charitable K¥npany k¢eps accfjunting T￿OrdS that ￿)MPlY with s￿l￿ns 386 and 387 of IhE mpaniesAd 2006 and P￿P￿ing 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 finan￿81 year and of its Surplus or defi￿1 for fIn￿CIal year in acc¢Kdan￿ with th8 qu*ements of SectKJns 394 and 395 aThJ ￿1¢h otherw￿9 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 Subl￿t 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 s￿ran- 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 tharita￿e company, whith is a publi benefit entity under FRS 102, have been p￿pared in ac£ordance with the Charities SORP IFRS 1021 kn(￿nting and Repo￿n9 by Charitsas.. Staternenl ol R8cOmFne￿ded Practic8 ap￿1¢able to ¢harities preparing their acixjunts in ac￿rdanc8 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 ar￿jnI can bo measured rdiably. Incomo from grants lincludlng govemtn8nt grant Incorn81 and donations. is ￿(￿J￿1¥ed in the pedcé in which the charty is entthd to receipt ar￿ the amoL5nt can be MeaSu￿d roliably. Irwme from charitsb$8 as￿V￿]ES for Sery1￿ provid8(l is recognlsgd kn line ￿lIh the prowsion Df thos& services. EXPENDITURE Liabllities ar8 recognised as expendfture as soon as there is a tegal or (w8tructivè obligatbn cx)rnmitting tho charity to that expenditure. 11 is probable that a trdnsfer of econorn￿ tsnefils wll be requiwd in setdem8nt and the amount of the obligation can b8 rnea5ured reliably. EXpe￿J￿ra is accounted for on an accrual$ 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 alk￿at￿ to aLtivthes on a basis consistent with the u88 of r850ur¢e$. TANGIBLE FIXED ASSErs Depreciatiw is provided at the following amual rdtes in <)rdw to wite off eath asset OV9¥ fts estifnatèd us8lul Muslcal instruments and other equipm￿t 10% on rgducing balance Assets w5ting ￿s$ 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 ￿n5￿n scheme are char￿ to the stat￿rr￿t ol Finandal ACt.V￿￿￿ in the period to whlch they rel8t8. Pag8 7 ¢On￿nUed... The Elgar School OF Music Limitsd Notes to the Hnandal Statements- Gontlnue(I for the Year Endod 31st August 2025 AcCou￿￿NG 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, Finan￿81 instrurnents are r9(x)gni8ed when the d)arity t*eomès 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 SInwtran￿1sIy. 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 eff￿tIVe interest mothod urtl8ss the arra￿dement 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 r￿gnised 8t tran￿*0￿ 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 nonst8g8 and StatI￿&ty Advertising Sundries CompLAer Repair5 aThJ ron&wals Cleaning Legal 8nd pr0fès￿onal 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 Inder￿￿￿ent 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