ULSTER COLLEGE OF MUSIC FINANCIAL ACCOUNTS YEAR ENDED 31 DECEMBER 2023
Johnston Graham Limited
Chartered Accountants 216/218 Holywood Road Belfast BT4 1PD
ULSTER COLLEGE OF MUSIC
PROFIT & LOSS ACCOUNT YEAR ENDED 31 DECEMBER 2023
| Note INCOME Fees Exam entry fees Instrument hire Hire of rooms Recital income Sundry income Donations Gift Aid Grants received Other investment income EXPENSES Examination fees paid Tutor fees Administration salaries Staff pensions Water rates Heat & light Insurance Building repairs Telephone Postage & stationery Advertising Computer expenses Professional fees Staff training Repairs & maintenance Bursary Bank charges Bad & doubtful debts Sundry expenses Depreciation NET INCOME RESOURCES FOR THE YEAR Total funds brought forward TOTAL FUNDS CARRIED FORWARD |
Unrestricted Restricted Total 214,151 214,151 9,801 9,801 1,094 1,094 5,929 5,929 502 502 - - 812 2,840 3,652 781 781 - 1,890 1,890 570 570 233,639 4,730 238,369 9,676 9,676 148,775 275 149,050 16,694 16,694 268 268 638 638 4,880 4,880 1,901 1,901 15,176 15,176 1,205 1,205 326 326 - - 482 482 12,100 12,100 - - 1,915 1,030 2,945 - 175 175 171 171 - - 1,534 1,534 5,242 5,242 221,378 1,480 222,858 12,261 3,250 15,511 149,424 3,150 152,574 161,685 6,400 168,085 2023 £ |
2022 £ Total 198,929 8,291 1,098 3,954 262 62 7,352 - 1,470 337 |
|---|---|---|
| 221,754 | ||
| 8,093 138,498 16,069 265 563 3,618 1,524 6,970 964 417 - 584 8,141 - 3,571 - 165 - 2,412 5,849 |
||
| 197,702 | ||
| 24,051 128,522 |
||
| 152,574 |
ULSTER COLLEGE OF MUSIC
BALANCE SHEET AS AT 31 DECEMBER 2023
| Note FIXED ASSETS 2 Tangible Assets CURRENT ASSETS Debtors & Prepayments 3 Cash at Bank CREDITORS: amounts falling due 4 within one year NET CURRENT ASSETS TOTAL NET ASSETS Represented By Restricted income funds Unrestricted income funds |
69,654 (12,892) 127,149 114,257 (15,827) 98,430 168,085 6,400 161,685 168,085 £ 2023 |
2022 £ 74,897 55 96,023 |
|---|---|---|
| 96,078 (18,401) |
||
| 77,677 | ||
| 152,574 | ||
| 3,150 149,424 |
||
| 152,574 |
ULSTER COLLEGE OF MUSIC
NOTES TO THE ACCOUNTS YEAR ENDED 31 DECEMBER 2023
1. ACCOUNTING POLICIES
- (a) Fixed assets are initially recorded at cost.
(b) Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows :
Land & Buildings - 2% Straight Line Other Plant & Machinery - 25% Reducing Balance
2. FIXED ASSETS
| FIXED ASSETS COST At 1 January 2023 Additions At 31 December 2023 DEPRECIATION At 1 January 2023 Charge for the year At 31 December 2023 NET BOOK VALUE At 31 December 2023 At 31 December 2022 |
Other Land & Plant & Buildings Machinery £ £ 171,169 42,590 - - 171,169 42,590 103,548 35,315 3,423 1,819 106,971 37,134 64,198 5,457 67,621 7,275 |
Total £ 213,759 - |
|---|---|---|
| 213,759 | ||
| 138,863 5,242 |
||
| 144,105 | ||
| 69,654 | ||
| 74,897 |
ULSTER COLLEGE OF MUSIC
NOTES TO THE ACCOUNTS YEAR ENDED 31 DECEMBER 2023
| 3. DEBTORS Trade Debtors Prepayments 4. CREDITORS :amounts falling due within one year Trade Creditors PAYE/NIC & Pension Payable Sundry Creditors & Accruals |
2023 £ (14,922) 2,029 (12,892) 322 1,053 14,452 15,827 |
2022 £ 0 55 |
|---|---|---|
| 55 | ||
| 4,438 655 13,308 |
||
| 18,401 |