Charity registration number: 101695 ## Ulster College of Music TRUSTEES’ ANNUAL REPORT 2025 AND FINANCIAL STATEMENTS FOR YEAR ENDED 31 DECEMBER 2024 ## **Ulster College of Music** ## **Contents** |Members of the Management Committee and Professional Advisers|1| |---|---| |Trustees Annual Report|2 to 6| |Donations|3| |Exam Results|4| |Student numbers|5| |Tutors and Administrators, Founding Principles, Maintnenace|6| |Signature|7| |Independent Examiner's Report|8| |Statement of Financial Activities|9| |Balance Sheet|10| |Notes to the Financial Statements
11 to 18|| ## **Ulster College of Music** ## **Members of the Management Committee and Professional Advisers** **Registered charity name** Ulster College of Music ## **Charity Registration Number** 101695 ## **Principal Office** 13 Windsor Avenue Belfast County Antrim BT9 6EE ## **The Trustees** Ms Angela Alonso Dr Norman Cairns Mr Ashley Fulton Mrs Astrid King David Preston (resigned 19/03/2024) Mr Kevin McEnoy Mr Conor Maxwell Mr David Rutherford Ms Nicola Wilson Ms Kate Coyle, (appointed 19/03/2024) Sean Walsh (appointed 13/08/2024) ## **Independent Examiner** RBCA Limited Chartered Accountants Linenhall Exchange 26 Linenhall Street Belfast BT2 8BG Page 1 ## **Ulster College of Music** ## **Trustees Annual Report 2025 and Financial Statements year ended 31 December 2024** The trustees present the annual report together with the financial statements of the charity for the year ended 31 December 2024 ## **Reference and Administrative Details** Reference and administrative details are shown in the schedule of members of the management committee and professional advisers on page 1 of the financial statements. ## AGM 2024 The AGM was held on 19th March 2024. The committee elected at the AGM were: Ms Angela Alonso Mr Ashley Fulton Mr Conor Maxwell Dr Norman Cairns Mrs Astrid King Mr David Rutherford Ms Kate Coyle Mr Kevin McEnoy Ms Nicola Wilson ## **Structure, governance and management** The college is a registered charity and legally constituted as a Trust. The college is managed on a day to day basis by an administrator, an assistant administrator and a bookkeeper, who are in turn responsible to The Management Committee. This committee is made up of tutors, parents and students of the college. ## **Public benefit** Ulster College of Music meets the Public Benefit as follows: ## Advancement of education The college's objectives are to promote the advancement of education through the promotion, development, maintenance and study, teaching and practice of music and dramatic art in Northern Ireland. ## Advancement of the Arts and Culture The Ulster College of Music meets this purpose by engaging students in musical activities and performing concerts to the public. It is well established that students of the arts - of all ages - learn to think creatively and to solve problems. Musical training helps develop brain areas involved in language and reasoning. Playing an instrument requires students to work with others, developing valuable team skills which can be carried over into all aspects of their lives. Since learning an instrument takes time and effort, our students learn patience and perseverance. Feedback from students and their parents tells us that playing music leads to higher concentration levels, improved coordination, reduced stress levels and better social and listening skills. Musical performance is an important tool that leads to improved self-expression which, once again, transfers into all aspects of life. The College Trustees and Tutors believe that playing an instrument, singing or acting promotes confidence, self-esteem, improved mental health and leads to greater contentment. Page 2 ## **Ulster College of Music** ## **Trustees Annual Report 2025 and Financial Statements year ended 31 December 2024 (continued)** ## **Donations** We received another generous donation of £2,500 from Alastair Nelson. We have spent this on a new professional lever harp and a harp trolley. Stefanie Bell included a legacy in her will to award the Derek Fleetwood Bell scholarship annually to a deserving student at the Ulster College of Music. We are very grateful to Stefanie Bell for her generosity and for the opportunities this will provide to future musicians. The National Lottery Fund awarded us a grant of £4,282 in October 2024 to run the Community Keyboard classes for two more years. We are very grateful for this funding. Mary Higgins donated a piano as well as £300 for refurbishing it. We are very grateful to have this instrument for our new proposed teaching room next year. In October 2024 we received £50 gift aid from HMRC ## **Achievements and performance** The College provides music and drama lessons to people of all ages from all nationalities, social and religious backgrounds. We welcome students from all the equal opportunities groups based on race, gender, age, sexual orientation, gender reassignment, disability, religion or belief, pregnancy and marital status. We provide individual lessons, group tuition, children's classes and GCSE and A-level music. The Chamber Music Class is a truly inclusive group of musicians from primary school to pension age. Our Musical Fun Foundation Course starts with Mini Music for the youngest children and progresses to Musical Games for the school age children. Many adults enjoy taking up lessons for the first time to learn a new skill or take up an instrument once more which they had not played for a while. We conduct lessons at times that suit people's busy lives - including afternoons, evenings and weekends. Our Easter Recital on 16th March 2024 was very well attended and raised £21.97 towards expenses. The End of Year recital was held at St. Thomas Parish Church on 8th June 2024. Ticket sales raised £336. The costs of putting on the recital were £300.86 for piano tuning, accompanist’s fees and refreshments. The three Christmas recitals on 14th December 2024 were very well received. Donations: £2.62. Expenses for refreshments and accompanist’s fees £166.67 Our annual carol concert at the Kennedy Centre on 21[st] December 2024 was very enjoyable and raised £159.22. Thank you to the Chamber Music Group and their families who helped with the collection box and jingle bells for making it such a successful event. The Chamber Music Group performed in Glencraig Camphill Community on 23[rd] November 2024. Our soloists played very well and the audience enjoyed the concert. We received a donation of £300 to add to our refugee bursary fund. Page 3 ## **Ulster College of Music** ## **Trustees Annual Report 2025 and Financial Statements year ended 31 December 2024 (continued)** ## Exam results The College enters students for ABRSM examinations, GCSE, AS and A level examinations and festivals throughout the year. The theory students have been entering for online exams individually, and feedback has been good. Practical Exams Summary |**Board**|**Period**|**Total**
**number of**
**Candidates**
**(UCM &**
**other)**|**Results UCM**|**Results other**| |---|---|---|---|---| |ABRSM
Private
Visit
at UCM|March
2024|20|Pass 5
Merit 4
Distinction 11|| |ABRSM
Private
Visit
at UCM|June
2024|42|Fail 1
Pass 12
Merit 19
Distinction 3|Pass 3
Merit 4| |ABRSM
Private
Visit
at UCM|December
2024|35|Pass 2
Merit 17
Distinction 13|Distinction 3| ## **GCSE and A level results** |SUBJECT|NUMBER OF
CANDIDATES|A*|A|B|C*|C|D|E|U| |---|---|---|---|---|---|---|---|---|---| |GCSE|6|4|||2||||| |AS LEVEL|6||1|1||3|1||| |A2 LEVEL|5|||3|||1||1| Page 4 ## **Ulster College of Music** ## **Trustees Annual Report 2025 and Financial Statements year ended 31 December 2024 (continued)** **----- Start of picture text -----**
Student Numbers 2025
Lesson
Numbers
Date 02/03/ 14/03/ 07/02/ 25/03/ 10/02/ 24/02/ 26/02/ 202403/03/
2018 2019 2020 2021 2022 2023 2025
Piano 102 81 78 74 105 99 115 147
Voice 31 36 25 22 23 28 30 33
Woodwind 37 27 24 25 37 33 30 32
Brass 4 6 6 7 11 15 19 24
Guitar/Harp 29 36 32 28 40 40 49 46
Strings/Violi 74 64 56 48 48 52 71 59
n Viola
Cello/Bass 9 16 21 19 20 20 21 27
Individual 4 5 2 2 3 6 5 8
Theory
Drama 4 5 9 6 5 4 4 6
Musical 11 9 13 5 8 11 10 11
Games
Mini Music
Recorder 12 15 15 13 15 12 13 14
Suzuki 12 15 21 23 17 13 0 0
Violin
Group 14 15 26 21 10 11 12 15
Theory
GCSE/As/ 22 25 16 11 23 12 18 14
A level
Aural 1 0 1 1 0 0 0 1
Chamber 13 10 11 10 14 13 15 13
Music
Traditional 4 2 1 1 0 0 0 0
Percussion 0 0 0 0 0 0 0 1
Choir 11 0 0 8 12 10
Sound Art - - - - 6 0 0 0
Composition
Total 399 369 368 316 385 377 424 461
Number of 321 317 319 289 360 354 383 392
Students
**----- End of picture text -----**
Page 5 ## **Ulster College of Music** ## **Trustees Annual Report 2025 and Financial Statements year ended 31 December 2024 (continued)** ## Tutors and Administrators We engage services of highly qualified and experienced tutors from all over the world and make this expertise available and affordable to as many people as possible. We are very pleased that the following tutors have joined us: Oksana Churikova started teaching piano in September 2024, Maebh Martin started teaching violin and viola in September 2024, Grainne Meyer started teaching harp in October 2024, Kristina Hedley joined as bassoon and clarinet tutor in January 2025 and Conor Masterson joined as violin tutor February 2025. We would like to thank the tutors who have left for their contribution to the College: Nathan Howe, clarinet, (left June 2024, Neil McErlean, violin, (left June 2024), Ruth Millar, harp, (left October 2024), David Preston, guitar (left December 2024) We would like to thank our administrators, Patricia Pepper and Emily Knowles and our bookkeeper, Paul Megarity for their wonderful work. They make the College a pleasant place to visit and work in, ensure excellent communication and keep on top of a very diverse range of duties. We are very fortunate to have an excellent cleaner, Monika Konik, who has been keeping the College beautifully clean for over a decade. ## Founding Principles The College's philosophy reflects that of its founder Daphne Bell MBE, Hon. FTCL LRAM LTCL - that music should be accessible to all and we work hard to achieve this. 4 bursaries are available to some families and students who may otherwise not be able to afford music lessons. One bursary is available for a refugee to allow them to restart their music education. We have been fortunate to get nearly continuous finding for the Community Keyboard Skills class for a few years. This allows free access to music to people from diverse backgrounds, including refugees. The wellbeing of children and young people is of the greatest importance to all the tutors and staff as well as the trustees of the College and our designated child protection officer arranges Access NI checks and child protection training for tutors and staff. Our designated officer is Miss Sheila Kerr. All our tutors have attended child protection and fire safety training courses and we have designated fire wardens on every floor of the building. ## Maintenance During the summer break and at other times volunteers helped with repairing window sills and surrounds, washing carpets, repairing toilets, cleaning PVC, replacing lights, decorating and carpeting Ulster Orchestra room after water damage as well as gardening and line painting in the car park.Thank you to all the volunteers for their time and hard work. J.B. McCoy Building and Decorating Service was engaged to fit boards to level the floor in Ulster Orchestra room, fix the front door and fire escape door and paint the outside window sills. The cost was £2,328. Page 6 ## **Ulster College of Music** ## **Trustees Annual Report 2025 and Financial Statements year ended 31 December 2024 (continued)** ## **Financial review** The College received a total income of £257,331 for the year 2024 from which there was a surplus of £31,007. Reserve as 31st December 2024 totalled £199,092. ## **Plans for future periods** The college will continue to focus on enhancing the range of music tuition to be offered to students. As the building is often fully booked we are planning to add an extra teaching room by converting the garage into a sound proof studio. Planning permission has been applied for. We have booked J.B. McCoy to replace the roof, including fascia and soffit boards and fit snow guards over the front door for safety during the summer of 2025. We may fit solar panels at the same time, providing planning permission is granted. ## **Statement of Trustees' Responsibilities** The trustees are responsible for preparing the trustees' report and the financial statements in accordance with the United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice) and applicable law and regulations. The law applicable to charities requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that period. In preparing these financial statements, the trustees are required to: - select suitable accounting policies and then apply them consistently; - observe the methods and principles in the Charities SORP; - make judgements and estimates that are reasonable and prudent; - state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; and - prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business. The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charities (Accounts and Reports) Regulations 2008, and the provisions of the constitution. The trustees are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. ## 02 Apr 2025 Approved by the trustees of the charity on .................... and signed on its behalf by: ......................................... Mrs Astrid King Trustee Page 7 ## **Ulster College of Music** ## **Independent Examiner's Report to the trustees of Ulster College of Music** I report to the trustees on my examination of the accounts of Ulster College of Music for the year ended 31 December 2024. ## **Responsibilities and basis of report** As the charity’s trustees of Ulster College of Music you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act (Northern Ireland) 2008 (‘the Act’). Having satisfied myself that the charity is not subject to audit under company law, and is eligible for independent examination, it is my responsibility to: - examine the accounts under section 65 of the Charities Act (Northern Ireland) 2008; - follow the procedures laid down in the general Directions given by the Charity Commission for Northern Ireland under section 65(9)(b) of the Charities Act; and - state whether particular matters have come to my attention. ## **Basis of independent examiner’s report** My examination was carried out in accordance with the general directions given by the Charity Commission for Northern Ireland under section 65(9)(b) of the Charities Act. The examination included a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts and seeking explanations from you as charity trustees concerning any such matters. My role is to state whether any material matters have come to my attention giving me cause to believe: 1. That accounting records were not kept in accordance with section 386 of the Companies Act 2006; 2. That the accounts do not accord with those accounting records; 3. That the accounts do not comply with the accounting requirements of section 396 of the Companies Act 2006 and with the methods and principles of the Charities Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland; and 4. That there is further information needed for a proper understanding of the accounts to be reached. ## **Independent examiner’s statement** I have completed my examination and have no concerns in respect of the matters (1) to (4) listed above and, in connection with following the Directions of the Charity Commission for Northern Ireland, I have found no matters that require drawing to your attention. ## Brian Stewart ...................................... Brian Stewart Independent Examiner RBCA Chartered Accountants Linenhall Exchange 26 Linenhall Street Belfast BT2 8BG ## 03 Apr 2025 Date:............................. Page 8 ## **Ulster College of Music** ## **Statement of Financial Activities for the Year Ended 31 December 2024** |**Note**
**Unrestricted**
**funds**
**£**
**Restricted**
**funds**
**£**
**Total**
**2024**
**£**
**Total**
**2023**
**£**|**Note**
**Unrestricted**
**funds**
**£**
**Restricted**
**funds**
**£**
**Total**
**2024**
**£**
**Total**
**2023**
**£**| |---|---| |**Income and Endowments from:**|| |Donations and legacies|3,233
4,582
7,815
6,322| |Other trading activities|248,650
-
248,650
231,478| |Investment income
4|866
-
866
570| |Total income|252,749
4,582
257,331
238,370| |**Expenditure on:**|| |Charitable activities|(223,132)
(3,192)
(226,324)
(222,859)| |Total expenditure|(223,132)
(3,192)
(226,324)
(222,859)| |Net income|29,617
1,390
31,007
15,511| |Net movement in funds|29,617
1,390
31,007
15,511| |**Reconciliation of funds**|| |Total funds brought forward|161,685
6,400
168,085
152,574| |Total funds carried forward
14|191,302
7,790
199,092
168,085| All of the charity's activities derive from continuing operations during the above two periods. The funds breakdown for 2024 is shown in note 14. The notes on pages 11 to 18 form an integral part of these financial statements. Page 9 ## **Ulster College of Music** ## **(Registration number: 101695) Balance Sheet as at 31 December 2024** |**Note**|**2024**
**2023**| |---|---| ||**£**
**£**| |**Fixed assets**|| |Tangible assets
9|68,711
69,654| |**Current assets**|| |Debtors
10|2,452
(12,892)| |Cash at bank and in hand
11|162,744
127,150| ||165,196
114,258| |**Creditors: Amounts falling due within oneyear**
12|(34,815)
(15,827)| |**Net current**assets|130,381
98,431| |**Net**assets|199,092
168,085| |**Funds of the charity:**|| |**Restricted income funds**|| |Restricted funds|7,790
6,400| |**Unrestricted income funds**|| |Unrestricted funds|191,302
161,685| |**Total funds**
14|199,092
168,085| The financial statements on pages 9 to 18 were approved by the trustees, and authorised for issue on 02 Apr 2025 .................... and signed on their behalf by: ......................................... Mrs Astrid King Trustee The notes on pages 11 to 18 form an integral part of these financial statements. Page 10 ## **Ulster College of Music** ## **Notes to the Financial Statements for the Year Ended 31 December 2024** ## **1 Accounting policies** ## **General information** The charity is a public benefit entity and a registered charity in Northern Ireland and is unincorporated. The address of the principal office is 13 Windsor Avenue, Belfast, County Antrim, BT9 6EE. ## **Statement of compliance** The financial statements have been prepared in accordance with the second edition of the Charities Statement of Recommended Practice issued in October 2019, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and the Charities Act 2011. ## **Basis of preparation** Ulster College of Music meets the definition of a public benefit entity under FRS 102. The accounts (financial statements) have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant note(s) to these accounts. ## **Going concern** The trustees consider that there are no material uncertainties about the charity's ability to continue as a going concern. ## **Fund accounting** Unrestricted funds are available for use at the discretion of the trustees to further any of the charity's purposes. Designated funds are unrestricted funds earmarked by the trustees for particular future project or commitment. Restricted funds are subjected to restrictions on their expenditure declared by the donor or through the terms of an appeal, and fall into one of two sub-classes: restricted income funds or endowment funds. Page 11 ## **Ulster College of Music** ## **Notes to the Financial Statements for the Year Ended 31 December 2024 (continued)** ## **Incoming resources** All incoming resources are included in the statement of financial activities when entitlement has passed to the charity; it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income: • income from donations or grants is recognised when there is evidence of entitlement to the gift, receipt is probable and its amount can be measured reliably. • legacy income is recognised when receipt is probable and entitlement is established. • income from donated goods is measured at the fair value of the goods unless this is impractical to measure reliably, in which case the value is derived from the cost to the donor or the estimated resale value. Donated facilities and services are recognised in the accounts when received if the value can be reliably measured. No amounts are included for the contribution of general volunteers. • income from contracts for the supply of services is recognised with the delivery of the contracted service. This is classified as unrestricted funds unless there is a contractual requirement for it to be spent on a particular purpose and returned if unspent, in which case it may be regarded as restricted. ## **Resources expended** Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings of the statement of financial activities to which it relates: • expenditure on raising funds includes the costs of all fundraising activities, events, non-charitable trading activities, and the sale of donated goods. • expenditure on charitable activities includes all costs incurred by a charity in undertaking activities that further its charitable aims for the benefit of its beneficiaries, including those support costs and costs relating to the governance of the charity apportioned to charitable activities. • other expenditure includes all expenditure that is neither related to raising funds for the charity nor part of its expenditure on charitable activities. All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs are apportioned between the activities they contribute to on a reasonable, justifiable and consistent basis. ## **Tangible fixed assets** All fixed assets are initially recorded at cost. Page 12 ## **Ulster College of Music** ## **Notes to the Financial Statements for the Year Ended 31 December 2024 (continued)** ## **Depreciation and amortisation** Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows: |the useful economic life of that asset as follows:|| |---|---| |**Asset class**|**Depreciation method and rate**| |Land and buildings|2% straight line| |Fixtures and fittings|25% reducing balance| ## **Trade debtors** Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business. Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the charity will not be able to collect all amounts due according to the original terms of the receivables. ## **Cash and cash equivalents** Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value. ## **Trade creditors** are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities. are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method. ## **Defined contribution plans** Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as an expense in the period in which it arises. Page 13 ## **Ulster College of Music** ## **Notes to the Financial Statements for the Year Ended 31 December 2024 (continued)** ## **2 Income from donations and legacies** |**2**
**Income from donations and legacies**|| |---|---| ||**Unrestricted**
**funds**
**Restricted**
**Total**| ||**General**
**funds**
**2024**| ||**£**
**£**
**£**| |Donations and legacies;|| |Donations|3,233
300
3,533| |Grants, including capital grants;|| |Grants|-
4,282
4,282| ||3,233
4,582
7,815| ||**Unrestricted**
**funds**
**Restricted**
**Total**| ||**General**
**funds**
**2023**| ||**£**
**£**
**£**| |Donations and legacies;|| |Donations|1,592
2,840
4,432| |Grants, including capital grants;|| |Grants|-
1,890
1,890| ||1,592
4,730
6,322| |**3**
**Income from other trading activities**|| ||**Unrestricted**
**funds**
**Total**
**Total**| ||**General**
**funds**
**2023**| ||**£**
**£**
**£**| ||| |Fees|233.573
233.573
214,151| |Exam entry fees|8,815
8,815
9,801| |Recital income|358
358
502| |Hire of rooms|4,518
4,518
5,929| |Instrument hire|1,386
1,386
1,094| ||248,650
248,650
231,478| |**4**
**Investment income**|| ||**Unrestricted**
**funds**
**Total**
**Total**| ||**General**
**2024**
**2023**| ||**£**
**£**
**£**| |Other investment income|866
866
570| Page 14 ## **Ulster College of Music** ## **Notes to the Financial Statements for the Year Ended 31 December 2024 (continued)** ## **5 Expenditure on charitable activities** |**5**
**Expenditure on charitable activities**|| |---|---| ||**Unrestricted**
**funds**
**Restricted**
**Total**| ||**General**
**funds**
**2024**| ||**£**
**£**
**£**| |Charitable activities|223,132
3,192
226,324| ||**Unrestricted**
**funds**
**Restricted**
**Total**| ||**General**
**funds**
**2023**| ||**£**
**£**
**£**| |Charitable activities|221,379
1,480
222,859| ## **6 Trustees remuneration and expenses** No trustees, nor any persons connected with them, have received any remuneration from the charity during the year. ## **7 Staff costs** The monthly average number of persons (including senior management / leadership team) employed by the charity during the year expressed as full time equivalents was as follows: ||**2024**
**2023**| |---|---| ||**No**
**No**| |Number of management staff|2
2| No employee received emoluments of more than £60,000 during the year Page 15 ## **Ulster College of Music** ## **Notes to the Financial Statements for the Year Ended 31 December 2024 (continued)** ## **8 Taxation** The Scheme is a registered pension scheme under Chapter 2 of Part 4 of the Finance Act 2004 and is therefore exempt from income tax and capital gains tax. ## **9 Tangible fixed assets** |**9**
**Tangible fixed assets**|**9**
**Tangible fixed assets**| |---|---| |**Land and**
**buildings**
**£**
**Furniture and**
**equipment**
**£**
**Total**
**£**|| |**Cost**|| |At 1 January 2024
171,169
42,591
213,760|| |Additions
-
4,304
4,304|| |At 31 December 2024
171,169
46,895
218,064|| |**Depreciation**|| |At 1 January 2024
106,971
37,134
144,105|| |Charge for theyear
3,424
1,824
5,248|| |At 31 December 2024
110,395
38,958
149,353|| |**Net book value**|| |At 31 December 2024
60,774
7,937
68,711|| |At 31 December 2023
64,198
5,457
69,655|| |**10**
**Debtors**|| ||**2024**
**2023**| ||**£**
**£**| |Trade debtors|623
(14,922)| |Prepayments|1,829
2,030| ||2,452
(12,892)| |**11**
**Cash and cash equivalents**|| ||**2024**
**2023**| ||**£**
**£**| |Cash on hand|282
257| |Cash at bank|162,462
126,893| ||162,744
127,150| Page 16 ## **Ulster College of Music** ## **Notes to the Financial Statements for the Year Ended 31 December 2024 (continued)** ## **12 Creditors: amounts falling due within one year** |**12**
**Creditors: amounts falling due within one year**||| |---|---|---| ||**2024**|**2023**| ||**£**|**£**| |Trade creditors|816|322| |Other taxation and social security|1,185|913| |Other creditors|105|2,450| |Accruals|32,709|12,142| ||34,815|15,827| ## **13 Pension and other schemes** ## **Defined contribution pension scheme** The charity operates a defined contribution pension scheme. The pension cost charge for the year represents contributions payable by the charity to the scheme and amounted to £274 (2023: £268). ## **14 Analysis of Funds** ||**Balance at 1**
**Incoming**
**Resources**
**Balance at 31**| |---|---| ||**January 2024**

**resources**
**expended**
**December 2024**| ||
**£**
**£**

**£**
**£**| |**Unrestricted funds**|| |General|161,685
252,749
(223,132)
191,302| |**Restricted funds**|| |Grant|6,400
4,582
(3,192)
7,790| |**Total funds**|168,085
257,331
(226,324)
199,092| ||**Balance at 1**
**Incoming**
**Resources**
**Balance at 31**| ||**January 2023**

**resources**
**expended**
**December 2023**| ||
**£**
**£**

**£**
**£**| |**Unrestricted funds**|| |**_General_**|| |General|149,424
233,640
(221,379)
161,685| |**Restricted**|| |Grant|3,150
4,730
(1,480)
6,400| |**Total funds**|152,574
238,370
(222,859)
168,085| Page 17 ## **Ulster College of Music** ## **Notes to the Financial Statements for the Year Ended 31 December 2024 (continued)** |**15**
**Analysis of net assets between funds**|| |---|---| ||**Unrestricted**
**funds**
**Restricted**
**Total funds at**
**31 December**| ||**General**
**funds**
**2024**| ||**£**
**£**
**£**| |Tangible fixed assets|68,711
-
68,711| |Current assets|157,406
7,790
165,196| |Current liabilities|(34,815)
-
(34,815)| |Total net assets|191,302
7,790
199,092| ||**Unrestricted**
**funds**
**Restricted**
**Total funds at**
**31 December**| ||**General**
**funds**
**2023**| ||**£**
**£**
**£**| |Tangible fixed assets|69,655
-
69,655| |Current assets|107,858
6,400
114,258| |Current liabilities|(15,827)
-
(15,827)| |Total net assets|161,686
6,400
168,086| Page 18 ## **Issuer** RBCA Ltd **Document generated** Wed, 2nd Apr 2025 16:30:29 BST **Document fingerprint** 511a4213a23cd84ca85374f3d08a53de ## **Parties involved with this document** ## **Document processed** ## **Party + Fingerprint** Wed, 2nd Apr 2025 21:48:21 BST Thu, 3rd Apr 2025 15:48:01 BST Thu, 3rd Apr 2025 15:49:28 BST Astrid King - Signer (a50c921ca9319338b3c0cd4c56a43c19) Brian Stewart - Signer (283feff128c891c388eab3f0397f0674) RBCA Limited - Signer (bf7235972d02619724b6dc3494d03744) ## **Audit history log** ## **Date** ## **Action** Wed, 2nd Apr 2025 16:30:29 BST Wed, 2nd Apr 2025 16:30:30 BST Wed, 2nd Apr 2025 16:30:30 BST Wed, 2nd Apr 2025 16:30:30 BST Wed, 2nd Apr 2025 16:33:59 BST Wed, 2nd Apr 2025 16:33:59 BST Wed, 2nd Apr 2025 20:07:21 BST Wed, 2nd Apr 2025 21:43:36 BST Wed, 2nd Apr 2025 21:48:21 BST Wed, 2nd Apr 2025 21:48:21 BST Wed, 2nd Apr 2025 21:48:22 BST Wed, 2nd Apr 2025 22:08:16 BST Wed, 2nd Apr 2025 22:08:16 BST Thu, 3rd Apr 2025 15:46:28 BST Thu, 3rd Apr 2025 15:46:41 BST Thu, 3rd Apr 2025 15:48:01 BST Envelope generated by Odhran McDonald (188.66.74.80) Document generated with fingerprint 511a4213a23cd84ca85374f3d08a53de (188.66.74.80) Document generated with fingerprint 0de6123fc551daa53ef258303bf934c1 (188.66.74.80) Document generated with fingerprint 6ef05c749e967bf2d9b777e1e6fcf9a1 (188.66.74.80) Sent the envelope to Astrid King (astridking2004@yahoo.co.uk) for signing (188.66.74.80) Document emailed to astridking2004@yahoo.co.uk (18.175.129.191) Astrid King opened the document email. (87.248.114.212) Astrid King viewed the envelope (81.133.199.208) Astrid King signed the envelope (81.133.199.208) Sent the envelope to Brian Stewart (brian.stewart@rbca.co) for signing (81.133.199.208) Document emailed to brian.stewart@rbca.co (18.134.13.134) Brian Stewart opened the document email. (81.104.236.75) Brian Stewart opened the document email. (81.104.236.75) Brian Stewart viewed the envelope (81.104.236.75) Brian Stewart viewed the envelope (40.69.74.135) Brian Stewart signed the envelope (81.104.236.75) Sent the envelope to RBCA Limited (jane.gill@rbca.co) for signing Thu, 3rd Apr 2025 15:48:01 BST (81.104.236.75) Thu, 3rd Apr 2025 15:48:01 BST Thu, 3rd Apr 2025 15:49:14 BST Thu, 3rd Apr 2025 15:49:28 BST Thu, 3rd Apr 2025 15:49:28 BST Document emailed to jane.gill@rbca.co (18.170.112.248) RBCA Limited viewed the envelope (188.66.74.80) RBCA Limited signed the envelope (188.66.74.80) This envelope has been signed by all parties (188.66.74.80)