ANDERSONSTOWN TRADITIONAL & CONTEMPORARY MUSIC SCHOOL FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2023 ( A COMPANY LIMITED BY GUARANTEE AND NOT HAVING A SHARE CAPJTAL) COMPANY REGISTRATION NUMBER NI 036660 CHARITY REGISTRATION NUMBER NIC 103431 O'HARA SHEARER CHARTERED ACCOUNTANTS AND STATUTORY AUDoRs 547 FALLS ROAD BELFAST BTII 9AB
ANDERSONSTOWN TRADITIONAL & CONTENIPORARY MUSIC SCHOOL FINANCIAL STATEIVIENTS FOR THE YEAR ENDED 31ST MARCH 2023 CONTENrs Page Members and Professional Advisors Trustees Annual Report (including the Ststement of Directors Responsibilities in respect of financial statements) Report of the Independent Auditors to the Members, 10-12 Accounting Policies 13-15 Statement of Financial Activities (incorporating the income and expenditure accoun 16 Balance Sheet 17 Statement of Cash Flows 18 Notes to the Financial Statements 19-24
ANDERSONSTOWN T114DITIONAL & CONTEMPORARY sIc SCHOOL REPORT OF THE DtRECTORS AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2023 OFFICERS AND OTHER INFORMATION Directors O Benson {Chair) V QutDn (Treasurer) P Tohill G Rajasingh Joseph (Appointed 1110212023) N O'Donnell (Appointed 1110212023) Dr D Rogers (Appointed 1110212023) Registered Office Westcourt Centre 8-30 Barrack Street Belfast BT12 4AH Auditor5 O'Hara Shearer Chartered Accountants & Statutory Auditors 547 Falls Road BelfasL BTI19AB Bankers Bank of Ireland 202 Andersonstown Road BelfasL BTI19EB Company Registration Number N1036660 Charity Registration Number XR 33007 Charity Commission for Northern Ireland Registration Number NIC 103431 Registered Charity Name AndersonstoN¥n Trdditional & Contemporary Music School Page I
ANDERSONSTOWN TRADITIONAL & CONfEMPORARY MUSIC SCHOOL REPORT OF THE TRUSTEES AND FtqANCXAL STATEIIffiNrs FOR THE YEAR ENDED 31ST MARCH 2023 Trustees, Annual Report The Trustees, who are also directors for the purposes of company law, have pleasure in presenting their aDnual report together with the fanCIaL statements of the charity for the year ended 31 March 2023 which are also prepared to meet the requirements for a directors, report and accounts for Companies Act 2006 purposes. The Trustees confm that the financial statements comply with the requirements of the Charities Act (Northern Ireland) 2008 and Accounting and Reporting by Charities: Statement of Recommended Practice which applies to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective l January 2015). Reference & Administrative Details Reference and administratÉve details are shown in the schedule of members and professional advisers on page l of the fanCIal statements. Directors and Trustees The directors of the charitable company are its trustees for the PUTpose of charity law. The Directors and trustees who served the charity during the period were &s follows: Olive Benson (Chairperson) V Quinn (Treasurer) Pearse Tohill Goldston Rajasingh Joseph - appointed 1110212023 Niamh O'Donnell - appointed 1110212023 Dr Dave Rogers - appointed 1110212023 Structure, Governance & Managemellt Governing Document The charity is controlled by its governing document, a Memorandum and Articles of Association, which was last amended at an EGM in October 2009, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006. Each member has agreed to contribute £ l in the event of a compulsory winding up. It is registered as a charity with the Charities Commission (NI). Appointment of Trustees The Board of Trustees is responsible for the overall governance of the charity. Trustees are elected at the Annual General Meeting by the members present and the total number of Trustees shall not be less than 3. Trustees shall hold office until the next AJLnual General Meeting following histher appointment. A retiring Trustee shall be eligible for re-election. The Trustees shall have the power at any time and from time to time to appoint any person to be a Trustee, either to fill a casual vacancy or as an addition to the existing Trustees. Any Trustee so appointed shall hold office ltil the next following Annual General Meeting and shall then be eligible for election. During the year, 3 new Trustees were, appointed at our AGM in Feb 23. With assistance and support from Arts & Business and Boards123, the Trustees continue to address Succession planning & Trustee ReCruiten( particularly in are&s where the Cuent Trustees feel the need
for particular skills that will enhance the future development of the school. This process is ongoing. Trustee Induction and Training New Trustees undergo an induction to brief them on their legal obligations under charity and company law, the Charities Comjnission guidance on public benefit, content of the Memorandum and Articles of Association, the board of trustees and decision-making processes, policies and procedures. the business plan and recent fu1claI perfonllanee of the Chlty. Trustees are encouraged to attend appropriate external training events where these will facilitate the undertaking of their role. Trnstee Induction & training is part of our ongoing Succession planning & Trustee recruitment review. Organisation The Board of Trustees meet monthly and delegates certain responsibilities to the School Manager. The School Manager is responsible for the day-to-day management of the affairs of the charity and for implementing the policies and operational plans as agreed by the Board of Trustees. Between meetings of the Board of Trustees, the School Manager reports to the Chairperson. The School Manager is assisted by a full time Programme Co-ordinator and a part titne Administrator. Related parties None of the Trustees receive remuneration or other benefit for their work as trustees with the Charity. Any connection between a trustee or senior manager of the charity to related parties must be disclosed to the full Board of Trustees in the same way as any other contractual relationship with a third party. There were no such disclosures in the current year. Risk Management The Trustees have a risk management strategy which comprises: An annual review of the risks the charity may face. The establishment of systems and procedures to mitigate those risks identified. and The implementation of procedures designed to minimise any potential impact on the charity should those risks materialise. In providing access and opportunities to people and children, the Charity recognises that there are potential risks to children and vulnerable adults. A key element in the management of this risk is the establishment and implementation of a robust chart of policies and procedures including Privacy Policy, Access NI Disclosure Check, Child Protection Policy and the renewal and training of staff and tutors in these are& Online Protocols introduced in 20121 where reviewed and maintained throughout the year.. The Trustees are satisfied that the necessary policies and procedures are in place to safeguard staff and participants, and ensure that the benefits provided outweigh any potential harn]. The second main area of Risk Management has focused on the fanCIal stability of the Charity and has resulted in the Trustees investing in scenatio plaTing in the event of possible fiture funding reductions. A key element in the management of f1claI risk is via the reserves policy and the CEwity's ability to increase unrestricted reserves. To this end, as part of the ChaTity's Strategic Plan for the period 2021- 2026, we will seek to secure at least three year grant fLmding from alternative funders in order to give us the resources to return to pre Covid- 19 levels of activity and to establish and deliver new comrnerciaVsales/marketing oppOrtutieS and build and blend on activities and styles of detivery.
Objectives and Activities The purposes of the Charity are: _ (a) advancement of the arts and culture, particularly but not exclusively the art of traditional and contemporary music" (b) advancement of education. (c) promotion of such other charitable purposes &s may from time to time be determined. The maill activities undertaken in relation to our purposes In planning the Charities programme of activities for the year, the Trustees have considered the Charity Commission's guidance on public benefit including fee charging. Affordability and access to the programme is important and in setting the level of class fees, the trustees give cefuL consideration to the accessibility of our activities for those on low incomes. The focus of the Charities proarnMe is to provide affordable and accessÉble opportLmities for those living within disadvantaged areas of Belfast to engage and participate in music activities. This is achieved through the provision of a rolling programme of Irish traditional and contemporary music cl&sses, workshops, perfonnances and examinations. Since the lifting of Covid restrictions, we recommenced face-to-face delivery of our activities and maintained a reduced level of online class services, via Zoom, for our beneficiaries. During the year, our programme of activities involved - l. Musical Instrument Classes: Pursuing the Charity's pury)ose of 'Advancement of the Arts & Culture,, we delivered a total of 840 music class activities during the year (averaging 28 classes per week). The majority of these were delivered face-to-face in disadvantaged areas of Belfast. 430 individuals engaged in our music classes and other activities, during the year. 2. Performances: We delivered 9 end of telln live perfonnance concerts. These were perforn]ed by the class participants, our main beneficiaries and we engaged in a further 76 perfomjances during community festivals and events. In total, approximately 240 participants took part in these perforniances and attracted in the region of 15,000 audience numbers overall, who witnessed the beneficiaries showcase their achievement's and talent. 3, Examinations: T1Ollgh the Charity's programme of activities, the 'Advancement of Education, was addressed via the provision of music classes, which are structured to follow the progressive syllabuses of a variety of examination boards. In this period, 18 of our pupils engaged in accredited examinations, via the LCM and RGT Boards (LCM for traditional Ènstruments and RGT for contemporary guitar). All passed, achieving marks between 83 to 98 equating to Merit and Distinction awards for those entered. 4. Workshops: The Charity's programme entailed the delivery of 18 music workshops, which were also delivered in various community venues and participants were provided with tin whistles and bOdIanS, giving them the opportunity to join in. These were designed to inspire young people's interest in Arts and Culture and to encourage participation. workshops were provided 'free of charge,. A total of153 individuals benefited from the workshops. Achievements and Performance The trustees meet monthly, face-to-face and also via Zoom whichever is most convenient. Monthly Board Meetings provide the fonmi for planning. timely monitoring, evaluation and budgetary control. Our manager provides a monthly project update to the management conjmittee and any vatiation from the proposed timetable is higblighted. The Board also
review how the delivery of our prograrnme is meeting our original targets and the needs of the beneficiaries we serve. Through the Charity's 'Monitoring and Evaluation Procedures., the TnLStees used infonnation from Registration Fornis, Attendance Records, Questionnaires and Activity Dat4 etc. which provided information that allowed the monitoring of class provision and project, progress, against the main targets on a terni by terni b&sis. Records of Examination Entrants. Grades and Pass Rates were updated and reported upon to inform the Evaluation Procedure. Participant and Audience numbers attending workshops and perforniance events were collected on a tern] by terni / event by event basis. Feedback from participants was reviewed through 'questionnaires, comment fornis, interviews, etc; in accordance with the Charity's procedures. Feedback was also sought from a wider beneficiary group, e.g.: parents, community workers and schools. this enabled the Trustees to identify the broader impact of the project on the community. During 221?3, we made good progress in re-establishing nonnal activities and hence, we increased the number of classes and activities that we delivered. We increased class provision by 12 % and participant I beneficiary numbers incre&sed by 242 %, based on last year, s (21122) figures. ThÉs increase is also reflected through workshops, perfonnances and examinations. We were successful in tern]s of activities achieving the desired outcomes for the benefits to participants. The trustees have continued to implement the Charities Strategic Plan 2021-2026. The table below sboivs the growth in activities from 21122 to those achieved in 22123. Actual Achievements for 202112022 750 Actual Achievements for 2022 12023 840 18 85 18 756 15,000 Music Classes Workshops Perfonnances Examination Entries Participants Audience 21 221 1,000 Recovering from the impact of Covid, we have been success1 in re-establishing activities and meeting the gap that Covid caused on the delivery of our programme. We positively responded through the delivery and continued development of our programme. the main benefits that derive from the Charity's work and impact directly on the beneficiaries, are: Increased Skills and Personal Development - children and young people living within disadvantaged areas, have access and opportunities to participate in affordable arts and cultural activities, where such facilities and resources would not be available. develop practical musical skills team-work, self-discipline, social skills, communication and respect are encouraged and enhanced encourages creativity, raises ambition, improves confidence and self-esteem our tutors are supportive. give pratse. reassure and encourage the children to progress at their own pace
Increased Educational and Employability Opportunities - participants gain accredited music examinations young people can demonstrate their ability to apply themselves to a specific discipline such as music and attaining an accredited qualification strengthens this - contributing to their educational and employment opportunities in their tllre a positive outcome of learning to play a musical instrument, 'in the future,, participants are able to demonstrate that they have ability, discipline, confidence and skills that will enhance opportunities when seeking employment or enty into university. some participants progress to more advanced levels of playing and move on to learn the skills of teaching and sharing their knowledge with others. Improved Relationships with Familyy Friends and Others- an outcome of the Charity's activities. evidenced on the experience of our tutors, is that young people and children participating showed positive changes relative to being disruptive, restless in class, mixing better. interactive, attention spans and more attentive. confinned by parents, others showed positive changes within and Outside of the home more engagernent, less introvert, better relationships. mixing with others. the CEwity's programme of activities also impacts positively on young people. especially those who demonstrate shyness" and as a result they are more confident to express themselves and show-off their abilities to others, both at a peer level, a family and wider public level. the Charity's prograrnme assisted older people to strengthen social networks, learn something new, build confidence, improve opportunitÉes to have fun, improve physical and mental well-being. Testimonials from beneficiaries: Rose (alias), is 10 years old with some learning difficulties and has been diagnosed with Asperger's syndrome. She has good language and cognitive skills but depends very much on routine. Rose commenced Irish traditional fiddle classes with Andersonstown Music School in January 2019, making good progress throughout the year and had entered for the beginner level of examinations via the London College of Music that should have been held in April 2020. The Covid-19 lockdown in March 2020, meant that Rose's classes and examination were immediately suspended and needless to say, her routines were disrupted significantly. By July 2020, music classes had reComMend using the Zoom meeting plafform and the LCM were planning to reinstate examinations in August. Rose couldn't wait to get back. .1 thought that it was all really amazing! Everything was really clear and I could hear the violin really clearlyl More people should do it!! _ Rose's words"
"Rose has had a wonderful term wrth her brilliant tutor Eileen. Zoom classes have been good fun and a great way to meet up with her friends again online while getting some focused practice in as well. Eileen has been brilliant, very encouraging and offering expert advice as well as Rose's examination when needed. Rose looks forward to this class every week. - Rose's fathe In August, Rose sat her exam and achieved a pass mark of 91 out of 100 which is a distinction and an amazing achievement in the circumstances. Rose said that she was over the moon. Rose has continued to attend classes and is currently entered for her Grade 1 examination in June this year. Rose's father said 'the only thing I'd say is that we are very keen to get Rose playing live with other musicians and enjoying the social side of this a bit more. Totally understandable that this was not feasible during lockdown and I think you made the right call in keeping people safe. But looking forward, now that she is getting back to face to face lessons and getting used to playing in front of people and with other instruments. Thanks for all your hard work, it has been a lifesaver over lockdown and delighted that classes are back to normal, well organised and professional. Financial Review The charity achieved a net income surplus of £19,182 from a total income of £135,792. (For 2022: Net income deficit was £6,420 from a total income of £84,495). Our principal annual funding source was from the ACNI, with additional longer temi fimding secured through the Arts & Business Blueprint progranune and ScreensNI. The financial year 22123 saw the School emerging fully from Covid restrictions and returning to face to face class provision and activities, whilst maintaining a reduced online class provision service. Earned Income increased by a very impressivel 200/0 from prior year 21122 reflecting the popularity and enthusiasm of pupils returning to face to face activities after lockdown. The support of our funders was essential to the maintenance and development of our programme of activities. Pricing Policy Our pricing policy reflects our strategy of enabling people in Belfast, especially children and young people living within disadvantaged areas, to have access and opportunities to participate in arts and cultural activities, at an affordable price offering value for money. Class Fees remain at £40 per terni for both 'face to face, and online classes. Attendance at concerts, workshops and perfonnances are generally for free. As part of the Charity's Strategic Plan for the period 2021- 2026, our pricing policy will be reviewed to investigate scaled pricing and other commercial metrics. Reserves Policy Unrestricted funds are needed to provide funds which can be applied to specific projects to enable these projects to be undertaken at short notice, to cover the running costs of the Charity for a limited period should there be a significant shortfall in projected income alld to allow for investment in ChanLre/Strategic Development initiatives. The amount of unrestricted ftmds held at 3 1st March 2023 was £35,736. (For 2022: £48,064).
Auditors A resolution to re-appoint the auditors, O'Hara Shearer, will be proposed at the Annual General Meeting. Small CompaDy Exemption This report has been prepared in accordance with the special provisions for small companies under Part 15 of the Companies Act 2006. Responsibklities of the Trustees The charity trustees (who are also the directors of Andersonstown Traditional & Contemporary Music School for the purposes of company law) are responsible for prepating the Trustees Report and the fll]ancial statements in accordance with applicable law and regulations. Company law requires the trustees to prepare fancIal ststements for each financial year. The Trustees present their report and the fmancial statements of the charity for the year ended 31 st March ?02). The Trustees confmn that they comply with the requirements of the Charities Act (Northern Ireland) 2008 and Accounting and Reporting by CEitieS. Statement of Recommended Practice which applies to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in UK and Republic of Ireland (FRS 102) (effective I st January 2015). Under company law the Trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the stste of affairs of the company and of the surplus or deficit of the company for that period. In preparing those 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 (FRS I O?). make judgements and estimates that are reasonable and prudent. prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business. The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. By order of the Trustees: Valerie Quinn (Tre&surer) Date: 2411 1202
ANDERSONSTOWN TRADrrioNAL & CONTEMPORARY MUSIC SCHOOL FINANCIAL sTATENTs FOR THE YEAR ENDED 31ST MARCH 2023 REPORT OF THE INDEPENDENT AUDITOR TO THE MEMBERS, Opinion We have audited the financial statements of Andersonstown Traditional & Contemporary Music School (the 'charity') for the year endea J l March 202i which comprise the Statement of Financial Activitie5, the Balance SheeL the Statement of Cash Flows and the notes to the financial statements, including a sumrnary of significant accounting policies. The financial reporting framework that h&s been applied in their prepardtion is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 Thefinancial Reporting Standard appllcable in the UK and Republic oflreland (United Kingdom Generally Accepted Accounting Practice). In our opinion, the financial statements: give a true and fair view of the state of the charitable companls affairs as at 31 March 202J and of its incoming resources and application of Tesources, including its income and expenditrjre for the year then ended. have been propeTly prepared in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective l Janauary 2015) - (Charities SORP (FRSI 02)), the Financial R¢porting Standard applicable in the UK and Republic of Ireland (FRS 102); have been prepared in accordance with the requirements of the Cornpanies Act 2006. Basis for opinion We conducted our audit in accordance with International Standards on Auditing (UK) (ISAS (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditorfs responsibilities for the audit of the accounts section of our report. We are independent of the chartty in accordance with the ethical requirements that are relevant to our audit of the accounts in the UK, including the FRC'S EthicaI Standar4 and we have fijlfilled our other ethical responsibilities in accordance with these requirernents. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. Conelusions relating to going eoneern We have nothing to report in respect of the following matters in relation to which the ISAS (UK) require us to report to you where: the tntees, use of the going concern basis of accounting in the preparation of the financial statements is not appropriate. or the trustees have not disclosed in the financial statements any identified material uncertaiThties that may cast significant doubt about the charity's ability to continue to adopt the going concern basis of accounting for a period of at least twelve months from the date when the financia] statements are authorised for issue. Other inforn]ation The other information comprises the inforn)ation included in the annual repo¢ other than the fmancial statements and our audilovs report thereon. The trustees are responsible for the other inforniation. Our opinion on the financial statements does not Cover the other information an(L except to the extent otherwise explicitly stated in our repo¢ we do not express any fonTt of assurance conclusion thereon. In connection with our audit of the fmanciaI statements, our responsibility is to read the other infonnation and, in doing so, consider whether the other inforniation is materiaIly inconsistent with the financial statements or our knowledge obtained in the audit or otheTWiS¢ appears to be materially misstateiL If we identify such mateTial inconsistencies or apparent material misstatements, we are required to deterniine wbether there is a material misstatement in the flnancial statements or a material misstatement of the other infonnation. If, based on the work we have perfornie4 we conclude that there is a material misstatement of this other inforn]ation, we are required to report that fact. We have nothing to report in thÉs regard. Page 10
ANDERSONSTOWN TK4DrrtOYAL & COPItEMPOtL4RY fvtUSIC SCHOOL FINANCIAL STATEMEpirs FOR THE YEAR ENDED 31ST MARCH 2023 REPORT OF THE INDEPENDENf AUDITOR TO THE MEMBERS, Matters on wbich we are required to report by exeeptio tn the light of the knowlcdge and understanding of the Tnjstees and its environment obtained in the course of the audi( we have not identified material tnisstaternents in the TnJstee5' ReporL We have nothing to rep)rt in respect of the following matters in rclation to which the Companies Act 2006 requires us to report to you if. in our opinion. sufficient accounting records have not ken kepL or the financial statements are not in agreement with the accounting records. or certain disclosures of tnjstees, remunerdtion Splfied by law are not made" or we have not received all the infornialion and explanations we require for our audiL Responsibilities of trnstees As explained more in the Statement of Trustee5' Responsibilities, the trustees, who are also the directors of the charity for the purpose of company law, are resFK)nsible for the preparation of the financial statements and for being satisfied that they give a true and fair View, and for such internal control as the direclors deterniine is necessary to enable the preparation of finan¢ial slatements that are free from material misstst¢m¢nL whether due lo fraud or error. In preparing the financia] statements. the trustee$ are responsible for assessing the charitys ability to continue as a going concern, disclosing. as applicable. maners related to going concern and using the going concern basis of accounting unless the trustees either intend io liquidate the cornpany or to cease operations. or have no realistic alternativ¢ but lo do so. Auditor's responsibilities for tht audit of the financial statements Our objectives are to obtain reasonable assurdnce atKUt whether the financial statements as a whole are free from material misstatement, whether due to fraud or error. and to issue an audiiols rep)rt that includes our opinion. Reasonable &ssurdn¢c is a high level of assurance, but 13 not a guarantee that an audii CondUcd in aecordancc with ISAS (UK) will always detect a material misstatement when it exist5. Misstatements Can arise from frdud or error and arc ¢onsidered Materi if, individually or in the aggregate, they could re&sonably be expected to influence the economic decisions of users taken on the b&%is of these financial statements. ItTegularilies. including frau(l are instsnces of nonrfomplian¢¢ with laws and regulations. We d¢si8n procedures in line with our responsibilities, outlined aExive, io dete rnaterial misslatements in respect of iTregulariti¢s. including frau¢L The extent to whi¢h our procedures are capable of detecting irregularitie5. including frau4 is detailed below. Explanation as to what extent the udit was considered capable of detecting irrtgmlarities, including fraud The objectives of our audil in re5P¢¢t of fraud. are to identify and &%sess the risks of material misstatement of the financia] 5taiements due to fraud. to obtain sufficient appropriate audit evidence reg&ding the assessed risks of material misstatement due to fraud, through designing and implementtng appropriate re$ry)8eS to those assessed risks. and to reswnd appropriately to instances of fraud or suspected fraud identified during the audiL However. the primary responsibility for the prevention and detection of frdud rests with both management and those charged with governance of the Charity. Our approach wa5 as follows: We obtained an understanding of the legal and regulatory requirements applicable to the charity and considered that the m05t significant are the Companies Act 2006 and the Financial Rq)orting stsdard applicable in the UK and Republi¢ of Ireland (FRS 102) (effective l Janaury 2015) - (Charities SORP (FRS 102). Enquiry of managemenl those charged with governance and the entity's soliciiors around actual and tK)tential litigation and claims. Enquiry of entity staff in c()mpliance functions to identify any instances of any non-compliance with laws and regulations. Reviewing financial statetnent disclosures and testing to SUprting documentatton to &ssess compliance with applicable laws and regulations. Page 11
ANDERSONSTOWN TR4DITIONAL & cowfEMPOIL4RY MUSIC SCHOOL FtNANCIAL STATEMENTS FOR THE ITAR ENDED 31ST MARCH 2023 REPORT OF THE INDEPENDENT AUDITOR TO THE MEMBERS. Auditing the risk of management oveIde of controls, including through testing journa] entries and other adjustments for appropriateness. and evaluating the blnesS fdtiona]e of significant tr8nsadions outside the norniat course of business. As part of an audit in accordance with ISAS (UK) we exercise professional judgement and maintain professional sceptieism throughout the audiL We also: Identify and ass¢ss th¢ risks of material m?sststement of the financia] statements. whether due to fraud or error. design and perforni audit procedures responsive tt) those risks, and obtain audit evidence that is suffi¢ient and appropriale to provide a basis for our opinion. The risk of not detecting & material misstatement resulting from fraud is higher than for one resulting from error, a5 fraud may involve collusiot4 forgery. intentional omissions, misrepresentations. or the override of internai control. Obiain an understanding of inten1 control relevant to the audit in order to design audit procedures that are appropriate in the circumstances. but not for the PUTP)ses of ekpressing an opinion on the effectiveness of the company's internal ntrOl. Eva]uate the appropriateness of a¢countin8 p)licies used and the reasonableness of accounting estimates and related disclosures made by the director5. Conclude on the appropriateness of the directors, use of the going Concern basis of accounting anl b&scd on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may c&5t significani doubt on the ¢harity's ability lo continue as a going concern. If we conclude that a rnaterial uncertainty exists, we are requir¢d to draw attention in our auditols report to the related disclosur¢s in the financial statements or, if such disclosures a inadequate, to modify our opinion. OLtr conelllsions arc based on the audit eviden¢¢ obtained up to our auditols r¢ForL However. events or conditions may use the charity to Ce to continue as a going concern. Evaluate the overall presentation, Structure and ¢ontent of the financia] statements, including th¢ disclosures. and whether the financial statements represent the underlying tranwtions and events in a manner that achicves fair presentation. A further description of our responsibilities for the audit of the financial statements is located on the Financial ReN)rting Council's website at: http'.l/Www.frc.org.uklauditor5resnSlbll1tics. This description fonn5 Part of our auditofs rep) We communicate with those charged with governance regardin& among other matt¢r5. the pIared scope and timing of the audit and significant findings. including any significant deficiencies in internal control that we identify during our audit. Use of our report This report is made solely to the chariiable companys mbs, as a ty. in accordance with Chapter 3 of Part 16 of the Companies Act 2006 and regulaiions made under that Ad. Our audit work has ken undertaken so that we might state to the Charitable company's members those matters we are requId to state to them in an auditors, report and for no other purpose. To th¢ fullest extent pennitted by law. we do not accept or assume r¢snsibIlity to anyone other than th¢ ¢haritsble company and its members as a body, r our audit worL for this reporL or for the opinion8 we have fornied. LAWRED4CE SHEARER .C.A., Senior Stathtory Auditor FOR AND ON BEFL4LF OF O'HARA SHEAREIL Stathtory Auditor O'HARA SHEARER CHARTERED ACCOUNTAf4TS AND STATufoRY AUDITORS 547 Falls Road Belfast BTI19AB Dated: 24th November 2023 Page 12
ANDERSONSTOWN TRADITIONAL & CONTEMPORARY MUSIC SCHOOL FtNANCIAL STATEMENTS FOR THE YEAR EIYDED 31ST NL4RCH 2023 STATEMENT OF ACCOUNTtNG POLICIES Accounting Convention and Basis of Accountillg The financial statements have been prepared under the historical cost convention. The financial statements have been prepared in accordance with Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard which applies in the UK and Republic of Ireland (FRS 102) (effective l January 2015) - (Charities SORP ffRS 102)}, the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006. Going Concern At the time of approving the financial statements, the trustees, have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees, continue to adopt the going concern basis of accounting in preparing the financial statements. Income Recognition Income is recognised when the Charity has entitlement to the funds, any perfonnance conditions attached to the item(s) of income have been mel it is probable that the income will be received and the amount can be measured reliably. Interest Receivable Interest on funds held is included when CeiVable and the amount can be measured reliably; this is nonnally upon notification of the interest paid or payable by the Bank. Resources Expended All expenditure is accounted for on an accruals basis and is classified under headings that aggregate all costs related to the category. Fundraising costs include the costs of advertising, producing publications, printing and mailing fiEndraising material, and staff costs in these areas. Costs of charitsble activities include direct expenditure incurred through operational activities. Governance costs represent the costs associated with the governance arrangements of the charity which relate to the general running of the charity as opposed to those costs associated with fundraising or charitable activity. Fixed Assets All tangible fixed assets are recorded at cost. Page 13
ANDERSONSTOWN TRADITIONAL & coNfEIWORARY fvtUSIC SCHOOL FINANCIAL STATEMENrs FOR THE YEAR ENDED 31ST MARCH 2023 STATEMENT OF ACcourING POLICIES Conlinued Depreciation Depreciation is calculated to write off the cost of fed assets over their estimated useful lives at the following rates: Office equipment 33.33 % straight llne Repairs and Renewals All repairs and renewals are written off as incurred Pension Costs The charity does currently operate a defined contribution pension scheme. Debtors and Prepayments Trade debtors and other debtors are recognised at the settlement amount due after any discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due. Creditors and Provisions Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are norn)ally recognised at their settlement amount after allowing for any trade discounts due. Financial Instruments The Charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method. Foreign Currencies Monetary assets and liabilities in foreign cUncle$ are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in forei currencies are translated into sterling at the rate of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the net movement in funds. Page 14
ANDERSONSTOWN TIL4DrfIoNAL & CONTEMPOIL4RY MUSIC SCHOOL FINANCIAL STA TEMENrs FOR THE YEAR ENDED 31ST MARCH 2023 STATEMENT OF AccouNfING POLICIES Continued Fund Aecounting Unrestricted funds are general funds that are available for use at the Trustees, discretion in furtherance of the objectives of the charity. Designated funds are unrestricted funds set aside by the trustees out of unrestrÉcted funds for specific future purposes. Restricted funds are those given for use in a particular area or for specifjc PUTposes, the use of which is restricted to that area or purpose. The income received from funders depends on the charity meettng detailed criteria on expenses plans. Grants given under such conditions are also given subject to them being obtained for in connection with the furtherance of the Charity's aims and objectives. Such income can be repayable to the funder if such expenses plans and criteria are not met. Such income is only defeed when the donor specifies that the gTanVdonation must only be used in future accounting periods, or the donor has imposed conditions which must be met before the charity has unconditional entitlement. Income from charitable activities includes income received under Contract or where entitlement to grant funding is subject to specific perfonnance conditions is recognised as earned as the lated goodslservices are PTovided. Grant income included in this category provides fijnding to support perfonnance activities and is recognised where there is entitlemenL certainty of receipt and the amount can be measured with sufficient reliability. Income is deferred when: feeslperformance related grants are received in advance of the perfornian¢e/event to which they relate. Reserves Policy Unrestricted funds are needed to provide funds which can be applied to specific projects to enable these projects to be undertaken at short notice, to cover the running costs of the Charity for a limited period should there be a significant shortfall in projected income, and to allow for invesknent in Change/Strategic Development initiatives. This policy is currently under review. Page 15
ANDERSONSTOWN TRADMONAL & coTrifEMP0114RY MUSIC SCHOOL STATEMENT OF FINANCL4L AcrivrrIES the income and ex FOR THE YEAR EYDED 31ST K4RCH 2023 inco oratin enditsre account Unrestricted Restrieted EndowRmeDt TOTAL TOTAL Funds Funds Funds 2023 2022 NOTES INCOME AND ETrtDOWTr4MENfs FROM: Donations and legacies Income fro investments tncome from charitable a¢tivitie5 tncome from other trading activities 1.045 1.045 11,192 29.547 105.2(M) 134.747 73,303 TOTAL INCOME AND ENDOWNMENTS 30J92 105,200 135,792 84,49S EXPENDITURE ON: Expendifvre on raising funds Expenditure on charitable A¢tivities Other expendibjre Net gaittsl(1055es) on investments 42.920 73,690 116.610 90,915 TOTAL RESOURCES EXPENDED 42.920 73.690 116.610 90,915 NET INC0}(ExPENDITifftEI {12J28) 31JlO 19,182 {6,4201 Transfers between funds NET MOVEMENT IN FUNDS {12J28} 31JlO 19,182 (6,4201 RECONCILIATION OF FUNDS TOTAL FUNDS BROUGHT FORWARD 48,064 48,064 54,484 TOTAL FUNDS CARRIED FORWARD 35.736 31JlO 67.246 48,064 The St#t¢rnent of Financial Activiti includes all giifts #nd lo$$es in the yer and therefore a Statement of Total Recognised Cains and Losses has not been prepxr¢d All of the abovt lmounts relate to eontinuing ctivities The #t¢¢PYl% policies the 4otes forni part oftkest finalletl Jtst¢ments Page 16
ANDERSONSTOWN TRADITIONAL & coNfEMPOIL4RY MUSIC SCHOOL BALANCE SHEET AS AT 31ST MARCH 2023 2023 2022 NOTES FD ASSETS Tangible assets 3,310 CURRENT ASSETS Debtors and prepayments Cash at bank Cash on deposit Cash in hand 10 10,090 63,221 10,104 40,884 70 73,381 70 51,058 Creditors: amounts falling due within one year (6.136) (6,304) NET CURRENT ASSETSIILIABILITIES) 67,245 44.754 TOTAL ASSETS LESS CURRENT ASSETS/( LIABILITIES ) 67,246 48,064 Creditors: amounts falling due after more than one year NET ASSETS/(LIABILITIES) 67,246 48,064 FUNDS: ENDOWNMENT FUNDS UNRESTRICTED INCOME FUNDS 12114 35,736 48,064 RESTIUCTED INCOME FUNDS 12115 31,510 67,246 48,064 These financial ststements were approved by the Trustees on 24th November 2023 and are signed on their be If by: VALERIE QUINN TREASURER DATE 24th November 2023 The accompanying accounting policies and notes form part of these financial statements Page 17
ANDERSONSTOWN TRADrrioNAL & CONTEMPORARY MUSIC SCHOOL STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31ST IWCH 2023 2023 2022 NOTES CASHFLOWS FROM OPEII4TING ACTIVITIES C&8h generated from operations 13 22,337 (8,054) Net cash inflow/(oufflow) from operating activities 22,337 (8,054) Investing activities Investment income Purchase of tangible fed assets Acquisition of investments Disposal of investments Disposal of tangible fixed assets Net cash from investing activities Increase/(deerease) in cash and cash equivalents in the year 22,337 (8,054) Cash and c2sb equiv21ents at the beginning of the year 40,954 49,008 Cash and cash equivalents at the end of the year 63,291 40,954 Relating to: Cash at bank and ID hand 63,291 40,954 The accompanying accounting policies Ind notes forni part of these fingTrcial statements Page 18
ANDERSONSTOWN TRADITIONAL AND CONTEMPORARY MUSIC SCHOOL NOTES TO THE FINANCIAL STATEMENTS FOR TE YEAR ENDED 31ST CH 2023 I. DONATIONS AND LEGACIES Unrestricted Restricted Funds Funds Unrestricted Restricted Funds Fund$ 2023 2022 Donations General grant5 provided by governrnentlother chariti¢s Legacies 1.045 1,045 1.277 1.277 9,915 9,915 1.045 1,045 1,277 9.915 11,192 2. INCOME FROM INVESTMENTS Unrestricted Restricted Funds Funds Unrestricted Restricted Funds Funds 2023 2022 Income from UK listed invcstments Income from cash 3. INCOME FROM CK41UTABLE ACTIVITIES Unrestricted Restrieted Funds Fllnds Unrestricted Restricted Funds Funds 2023 2022 Arts Coun¢il of Northern Ireland BBC Children in Need Belfast City Council Arts and Business- Blueprint Programme Arts and Business- Matching InvestmeniProgramme Screen Nl Class fees Service Provision Examination fees 49,791 2.500 49,791 2,500 40,790 10,000 10,000 40.790 10,000 io,ooo 27.000 3,990 21.919 27,000 3,990 21,919 14,532 14,435 580 14.532 14,435 580 11.684 11.684 829 829 29.547 105,200 134.747 12,513 60,790 73,303 4. INCOME FROM OTHER TIL4Dif4G ACTlVtTIES UTrrestricted Restricted Funds Funds Unrestricted Restricted Funds Funds 2023 2022 Fundraising Page 19
ANDERSONSTOWN TRADITIONAL AND copifEMPORARY hfUSIC SCHOOL NOTES TO THE FINANCIAL STATEMETrrrs FOR THE YEAR ENDED 31ST MARCH 2023 S. EXTENDITURE ON IL41SING FUNDS UnrestTiCted Restricted Funds Funds Unrestricted Restricted Funds Funds 2023 2022 Promotional and ndraIsIng costs 6. LKPENDITURE ON CHAIUTABLE AcfivITIES Unrrftrieted Restricted Funds Funds Unrestricted Restricted Fllnds Funds 2023 2022 Wages and salarics (See Note 8) Travel costs Artisti¢ ¢osts Venue hire Examination fees Membership fecs Workshop and cl&8s materials Postage, printing and stationery Recruitment costs Sundry expenses Maintenance of equipment 11.495 86 8.243 3.700 580 931 47.717 59.212 86 26,880 3.700 580 931 8,414 39.905 48,319 18,637 175 20.800 20,975 829 684 230 1,374 38 829 684 230 1.374 38 815 815 121 1.138 121 1.138 290 290 27.109 66J54 93,463 11,744 60,995 72,739 Support Costs and Governance costs Management training Telephone and intemet Repairs and maintenance COVID-19 Storage costs Light and heat Rent and services Insurance Audit fees Legal and other professional fecs Annual return fee Bank interest and charges Webslte sUPPOrt and IT support Depreciation (Nole 9) 476 1,691 750 1,226 1.691 36 1.771 36 1.771 864 864 3,663 4.596 969 I,5) 2,923 13 181 2.212 3,309 864 864 2,773 4,596 909 1,500 3,663 2.773 4,596 969 1,51KI 4,596 909 1,096 404 2,923 13 13 160 13 160 2,245 3,309 2.212 3.309 2,245 3,309 15,811 7J36 23.147 8,466 9,710 18,176 TOTAL EXTENDITURE ON CEL4RtTABLE ACTtVITIES 42,920 73,690 116,610 20,210 70,705 90,915 Page 20
ANDERSONSTOWN TII4DITIONAL & CONTEMPOIURY MUSIC SCHOOL NOTES TO THE FINANCIAL STATEMENrs FOR THE YEAR ENDED 31ST MARCH 2023 7. NET {OUTGOING)I INCOMING RESOURCES FOR THE YEAR This is stated after chargingl(crediting) 2023 2022 Auditors remuneration Depreciation 1,500 3,309 1,500 3,309 8. SALARY COSTS AND EMOLUMENTS 2023 2022 Total staff costs were as follows: Wages and salaries - key management personnel Wages and salaries - other staff Employer social security costs - key management personnel Employer social security costs - other staff Employer pension costs - key management personnel Employer pension costs - other staff Employer social security Costs - Ststutory Maternity Pay Recoverable Employer social security costs - Employment Allowance 26,727 30,758 2,653 1,671 802 923 26,727 20,196 2,468 1,054 802 594 4,322) 3,522 59,212 48,319 The average monthly number of employees during the year was as follows: 2023 Number 2022 Number No employees had emoluments in excess of £60,000 (2022: £Nil) Trustees, remuneration and benefits There no trustees, remuneration or other benefIts for the year ended 31 st March 2023. (2022: £Nil) Trustees, Expenses There were no trustees, expenses paid for the year ended 31 st March 2023. (2022: £Nil) Page 21
IINDERSONSTOWN TRADITIONAL & CONfEMPOIL4RY tUSIC SCHOOL NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2023 9. TANGIBLE FIXED ASSETS Office Equipment Total COST As at 1st April 2022 20,381 20,381 Additions Disposals As at 31st March 2023 20,381 20,381 DEPRICIATION As at 1st April 2022 17,071 17,071 Charge for year Eliminated on disposal 3,309 3,309 As at 3 1st March 2023 20,380 20,380 Net book value 2023 Net book value 2022 3,310 3,310 Page 22
ANDERSONSTOWN TIL4DITIONAL & coNfEMPORARY MUSIC SCHOOL NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST RCH 2023 10. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2023 2022 Debtors Prepayments Refundable deposits 8,260 580 1,250 8,270 584 1,250 10,090 10,104 11. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2023 2022 Social security Costs and other taxes Accrued expenses Deferred income 755 5,381 654 3,150 2,500 6,136 6,304 12. MOVEMENT IN FUNDS Opening Net Movement Balance in Funds 2023 2022 Overall funds 48,064 19,182 67,246 48,064 48,064 19,182 67,246 48,064 13. RECONCILIATION OF OPEII4TING PROFfr TO NET CASH FLOW FROM OPERATING AcTITIEs FROM OPERATING ACTIVITIES 2023 2022 Operating Surplus/(Deficit) for the year Depreciation Movement in debtors Movement in creditors Gain on investments rofit)Loss on disposal of Fixed Assets Investment income 19,182 (6,420) 3,309 3,309 14 (4,699) (168) (244) Net cash inflowl(oufflow) from operdting activities 22?37 (8,054) Page 23
ANDERSONSTOWN TRADITIONAL & CONTEMPORARY MUSIC SCHOOL NOTES TO THE FINANCIAL STATEMENrs FOR THE YEAR ENDED 31ST MARCH 2023 14. UNRESTRICTED INCOME FUNDS 2023 2022 Balance at 1st April 2022 48,064 54,484 Incoming resources for the year Resources expended for the year Transfers between funds 30,592 13.790 (42.920) (20,210) Balance at 3 1st March 2023 35,736 48,064 15. RESTRICTED INCOME FUNDS 2023 2022 Balance at 1st April 2022 Incoming resources for the year Resources expended for the year Transfers between funds 105,200 70,705 (73,690) (70,705) Balance at 3 1st March 2023 31,510 16. LEGAL STATUS Andersonstown Traditional and Contemporary Music School is a Company Limited by Guarantee. Each member has agreed to contribute £1 in the event of a compulsory winding up. Andersonstown Traditional and Contemporary Music School is registered with The Charity Commission for Northern Ireland Charity Number 103431. Date of registration 17th September 2015. Andersonstown Traditional and Contemporary Music School is a recognised Charity within the definition of Section 360(3) Income and Corporation Taxes Act 1970 by the CommissÉoners of the Inland Revenue. Page 24