Caseware UK (AP4) 2023.0.135 2023.0.135 Caseware UK (AP4) 2023.0.135 2023.0.135 2023-12-31702267212380450040380470222955626584No description of principal activity2023-01-01false112023-12-31 3779148 2023-01-01 2023-12-31 3779148 2022-01-01 2022-12-31 3779148 2023-12-31 3779148 2022-12-31 3779148 2023-01-01 3779148 2022-01-01 3779148 c:CompanySecretary1 2023-01-01 2023-12-31 3779148 c:RegisteredOffice 2023-01-01 2023-12-31 3779148 d:CurrentFinancialInstruments 2023-12-31 3779148 d:CurrentFinancialInstruments 2022-12-31 3779148 c:FRS102 2023-01-01 2023-12-31 3779148 c:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 3779148 c:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 3779148 b:Trustee1 2023-01-01 2023-12-31 3779148 b:UnrestrictedFundsGeneral 2023-01-01 2023-12-31 3779148 b:UnrestrictedFundsGeneral 2022-01-01 2022-12-31 3779148 b:RestrictedIncomeFunds 2023-01-01 2023-12-31 3779148 b:RestrictedIncomeFunds 2022-01-01 2022-12-31 3779148 b:UnrestrictedFundsGeneral 2023-12-31 3779148 b:UnrestrictedFundsGeneral 2022-12-31 3779148 b:RestrictedIncomeFunds 2023-12-31 3779148 b:RestrictedIncomeFunds 2022-12-31 3779148 b:TotalUnrestrictedFunds 2023-12-31 3779148 b:TotalUnrestrictedFunds 2022-12-31 3779148 b:TotalRestrictedIncomeFunds 2023-12-31 3779148 b:TotalRestrictedIncomeFunds 2022-12-31 3779148 c:FullAccounts 2023-01-01 2023-12-31 iso4217:GBP xbrli:pure

Registered number: 3779148
Charity number: 1079536










THE MUSIC CENTRE
(A company limited by guarantee)







UNAUDITED

TRUSTEE'S REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

 
THE MUSIC CENTRE
 
(A company limited by guarantee)
 

CONTENTS



Page
Reference and administrative details of the company, its Trustees and advisers
1
Trustee's report
2 - 4
Trustee's responsibilities statement
5
Statement of financial activities
6
Balance sheet
7
Notes to the financial statements
8 - 17

 
THE MUSIC CENTRE
 
(A company limited by guarantee)
 

REFERENCE AND ADMINISTRATIVE DETAILS OF THE COMPANY, ITS TRUSTEES AND ADVISERS
FOR THE YEAR ENDED 31 DECEMBER 2023


Trustees
R A Frostick, Musical Director

Company registered number
3779148

Charity registered number
1079536

Registered office
130 Culford Road
London
N1 4HU

Company secretary
R A Frostick

Page 1

 
THE MUSIC CENTRE
 
(A company limited by guarantee)
 
  
TRUSTEE'S REPORT
FOR THE YEAR ENDED 31 DECEMBER 2023

The Trustee present their annual report together with the financial statements of the The Music Centre for the year 1 January 2023 to 31 December 2023The Annual report serves the purposes of both a Trustee' report and a directors' report under company law. The Trustee confirm that the Annual report and financial statements of the charitable company comply with the current statutory requirements, the requirements of the charitable company's governing document and the provisions of the Statement of Recommended Practice (SORP) applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) (effective 1 January 2019). 
 

Since the company qualifies as small under section 382 of the Companies Act 2006, the Strategic report required of medium and large companies under the Companies Act 2006 (Strategic Report and Directors' Report) Regulations 2013 has been omitted. 
 

Objectives and activities
 

a. Policies and objectives
 

The principal object of the company is to promote, maintain, improve and advance education by the provision of musical tuition, both choral and instrumental, to children and young persons of and under the age of twenty-one in and around the London Boroughs of Islington and Southwark. 
 

In setting objectives and planning for activities, the Trustee have given due consideration to general guidance published by the Charity Commission relating to public benefit, including the guidance 'Public benefit: running a charity (PB2)'.
 

b. Strategies for achieving objectives
 

The charity’s main activities involve the provision of music tuition for 150 children and young people between the ages of 6 and 18, focusing particularly on singing, with additional rhythm and general improvisation workshops and some instrumental ensemble works. Across the two centres, in Islington and Southwark, there are 4 choirs every Saturday and Sunday between 9.00am and 5.30pm during term times - 60 sessions per year.  For additional music projects funding is raised according to need.  
                                                                                                                                                                            There is a programme of performances and massed rehearsals for these. Many hundreds of parents and other members of the public regularly attend these performances. There are large summer and Christmas concert and smaller-scale performances during the year. 
 

c. Activities undertaken to achieve objectives
 

Weekend tuition in the London boroughs of Islington and Southwark,regardless of pupils’ ability to pay. 
                                                                                                                                                                          Regular performances and other musical enrichment activities.
 

d. Volunteers
 

We have a new paid administrator – Irene Watling.  Our parents regularly volunteer at concerts and other special events.  We have a list of DBS checked adults who are drafted in to help us according to need.   A former pupil – now professional musician – Alex Pitts, gave us strong support throughout the year. 
 

Page 2

 
THE MUSIC CENTRE
 
(A company limited by guarantee)
 
Achievements and performance
 

a. Main achievements of the company
 

The day-to-day tuition at the two centres is at the heart of the charity’s work and is of a high quality. 
                                                                                                                                                                               The Islington Centre:

We are enjoying our new premises.  Nothing is too much trouble for our premises manager.
  
Professional harpist Xenia Horne visited us in January and gave two very good composing workshops at the Islington centre.  This was part of opera singer Joyce DiDonato’s ‘Eden’ project.

In March a group of 20 singers performed at an appeal concert for victims of the Turkish Earthquake.  Their singing was very well received and helped to raise a considerable sum for the Appeal.

In July singers from professional choir Tenebrae visited Islington and gave two excellent workshops with our younger and older choirs..

Our Summer and Christmas concerts at St Giles Cripplegate were each attended by audiences of over 500.  The standard of performance was extremely high.
                                                                                                                                                                      
The Southwark Centre:

 The situation in Southwark is exactly the same as in Islington.  We continue to use Charles Dickens Primary School.  
                                                                                                                                                                     
 

b. Fundraising activities and income generation
 

The financial situation at both centres is stable.  
 

c. Organisational stability 
 

Our staffing and provision are stable.
 

Page 3

 
THE MUSIC CENTRE
 
(A company limited by guarantee)
 
Financial review
 

a. Going concern
 

After making appropriate enquiries, the Trustee have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in the accounting policies.
 

b. Reserves policy
 

The financial situation at both centres is steady. .
 

Structure, governance and management
 

a. Constitution
 

The Music Centre is registered as a charitable company limited by guarantee and was set up by a Memorandum of Association.
 

b. Methods of appointment or election of Trustee
 

The management of the company is the responsibility of the Trustee who are elected and co-opted under the terms of the Memorandum of Association.
 

Members' liability
 

The Members of the company guarantee to contribute an amount not exceeding £1 to the assets of the company in the event of winding up.
 

 

Approved by order of the members of the board of Trustee on 30 September 2024 and signed on their behalf by:
 

R Frostick

Page 4

 
THE MUSIC CENTRE
 
(A company limited by guarantee)
 

STATEMENT OF TRUSTEE'S RESPONSIBILITIES
FOR THE YEAR ENDED 31 DECEMBER 2023

The Trustee (who are also the directors of the company for the purposes of company law) are responsible for preparing the Trustee's report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).


Company law requires the Trustee to prepare financial statements for each financial year. Under company law, the Trustee must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the Trustee are required to:

select suitable accounting policies and then apply them consistently;
observe the methods and principles of the Charities SORP (FRS 102);
make judgments and accounting estimates that are reasonable and prudent;
state whether applicable UK Accounting Standards (FRS 102) have been followed, subject to any material departures disclosed and explained in the financial statements;
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.


The Trustee 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.


Approved by order of the members of the board of Trustee on 30 September 2024 and signed on its behalf by:
R A Frostick

Page 5

 
THE MUSIC CENTRE
 
(A company limited by guarantee)

 
 
STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT)
FOR THE YEAR ENDED 31 DECEMBER 2023


Unrestricted funds
2023
Restricted funds
2023
Total
funds
2023
Total
funds
2022
Note
        £
        £
        £
        £

Income from:







Donations

3

850

86

936

1,412
 
Music tuition fees and events income


16,590

2,722

19,312

18,318
 
Investments

4

67

-

67

9
 
Total income
17,507
2,808
20,315
19,739
Expenditure on:







Tutors and music related costs


12,824

2,185

15,009

14,205
 
Support and governance costs


3,197

2,232

5,429

4,939
 
Trustee fees


-

-

-

1,000
 
Total expenditure
16,021
4,417
20,438
20,144

Net movement in funds
  
1,486
(1,609)
(123)
(405)

Reconciliation of funds:

  





Total funds brought forward

  

13,292

3,511

16,803

17,208
 
Net movement in funds

  

1,486

(1,609)

(123)

(405)
 
Total funds carried forward
  
14,778
1,902
16,680
16,803

The Statement of financial activities includes all gains and losses recognised in the year.

The notes on pages 8 to 17 form part of these financial statements.

Page 6

 
THE MUSIC CENTRE
 
(A company limited by guarantee)
REGISTERED NUMBER: 3779148

 
 
BALANCE SHEET
AS AT 31 DECEMBER 2023


2023
2022
Note
£
£

Current assets
  

Debtors
 8 
400
2,224

Cash at bank and in hand
  
21,631
30,529

Creditors: amounts falling due within one year
 9 
(5,351)
(15,950)

Net current assets 
  
 
 
16,680
 
 
16,803

Total net assets 
  
16,680
16,803


Charity funds
  

Restricted funds
 10 
1,902
3,511

Unrestricted funds
 10 
14,778
13,292

Total funds
  
16,680
16,803

The company was entitled to exemption from audit under section 477 of the Companies Act 2006.

The members have not required the company to obtain an audit for the year in question in accordance with section 476 of Companies Act 2006.

The Trustee acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to entities subject to the small companies regime.

The financial statements were approved and authorised for issue by the Trustee on 30 September 2024 and signed on their behalf by:

R Frostick

The notes on pages 8 to 17 form part of these financial statements.

Page 7

 
THE MUSIC CENTRE

(A company limited by guarantee)
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.


General information

The Music Centre is a private company limited by guarantee  and domiciled in England and Wales.The registered office is at 130 Culford Road, London N1 4HU.


2.Accounting policies

  
2.1

Basis of preparation of financial statements

The financial statements have been prepared in accordance with the Charities SORP (FRS 102) - Accounting and Reporting by 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 (FRS 102) (effective 1 January 2015), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.

The Music Centre meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.

  
2.2

Going concern

The trustee has considered the financial resources available along with the future plans for the Company when considering the going concern of the Company. After making enquiries, the trustee has a reasonable expectation that the Company will have access to adequate resources to continue in operational existence for the foreseeable future given the cash balance and net assets. Accordingly, he continues to adopt the going concern basis in the preparation of the financial statements.

  
2.3

Income

All income is recognised once the company has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.

Income tax recoverable in relation to investment income is recognised at the time the investment income is receivable.

  
2.4

Expenditure

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use.

Expenditure on raising funds includes all expenditure incurred by the company to raise funds for its charitable purposes and includes costs of all fundraising activities events and non-charitable trading.

Page 8

 
THE MUSIC CENTRE

(A company limited by guarantee)
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

2.4

Expenditure (continued)

Expenditure on charitable activities is incurred on directly undertaking the activities which further the company's objectives, as well as any associated support costs.

Grants payable are charged in the year when the offer is made except in those cases where the offer is conditional, such grants being recognised as expenditure when the conditions attaching are fulfilled. Grants offered subject to conditions which have not been met at the year end are noted as a commitment, but not accrued as expenditure.

All expenditure is inclusive of irrecoverable VAT.

  
2.5

Interest receivable

Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the company; this is normally upon notification of the interest paid or payable by the institution with whom the funds are deposited.

  
2.6

Debtors

Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

  
2.7

Cash at bank and in hand

Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.


2.8

Liabilities and provisions

Liabilities are recognised when there is an obligation at the Balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably.

Liabilities are recognised at the amount that the company anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.

Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised in the Statement of financial activities as a finance cost.

  
2.9

Financial instruments

The company 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.

Page 9

 
THE MUSIC CENTRE

(A company limited by guarantee)
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

  
2.10

Fund accounting

General funds are unrestricted funds which are available for use at the discretion of the Trustee in furtherance of the general objectives of the company and which have not been designated for other purposes.

Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the company for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.

Investment income, gains and losses are allocated to the appropriate fund.

Page 10

 
THE MUSIC CENTRE

(A company limited by guarantee)
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

3.

Income from donations and legacies




Unrestricted funds
2023
Restricted funds
2023
Total
funds
2023
        £
        £
        £
 



Donations

850

86

936





Unrestricted funds
2022
Restricted funds
2022
Total
funds
2022
        £
        £
        £



Donations

1,321

91

1,412



4.

Investment income



Unrestricted funds
2023
Total
funds
2023
        £
        £



Investment income - local cash

67

67




Unrestricted funds
2022
Total
funds
2022
        £
        £



Investment income - local cash

9

9



5.



Staff costs


2023
2022
£
£


Wages and salaries
2,262
2,230

Page 11

 
THE MUSIC CENTRE

(A company limited by guarantee)
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

5.Staff costs (continued)

The average number of persons employed by the company during the year was as follows:


2023
2022

No.
No.


Support staff
1
1

The average headcount expressed as full-time equivalents was 1:





No employee received remuneration amounting to more than £60,000 in either year.





6.

Support and governance costs




Unrestricted funds
2023
Restricted funds
2023
Total
funds
2023
        £
        £
        £

Salaries

1,062

1,200

2,262

Insurance

562

-

562

Sundry expenses

535

-

535

Accountancy

960

960

1,920

Bank charges

78

72

150

Total 2023


3,197
2,232
5,429



7.


Trustee's remuneration and expenses

During the year, no Trustees received any remuneration or other benefits (2022 - £1,000).

During the year ended 31 December 2023, no Trustee expenses have been incurred (2022 - £NIL).

Page 12

 
THE MUSIC CENTRE

(A company limited by guarantee)
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

8.



Debtors


2023
2022
£
£


Due within one year

Trade debtors
400
2,224

400
2,224


9.



Creditors: Amounts falling due within one year


2023
2022
£
£


Trade creditors
3,431
12,330

Accruals
1,920
3,620

5,351
15,950

Page 13

 
THE MUSIC CENTRE

(A company limited by guarantee)
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

10.

Statement of funds


Statement of funds - current year

Balance at 1 January 2023
£
Income
£
Expenditure
£
Balance at 31 December 2023
£

Unrestricted funds





General Funds 1

13,292

17,507

(16,021)

14,778
 

Restricted funds






Restricted Fund 1

3,511

2,808

(4,417)

1,902
 

Total of funds


16,803
20,315
(20,438)
16,680



Statement of funds - prior year

Balance at
1 January 2022
£
Income
£
Expenditure
£
Balance at
31 December 2022
£

Unrestricted funds





General Funds 1

15,170

15,427

(17,305)

13,292
 


Restricted funds






Restricted Fund 1

2,038

4,312

(2,839)

3,511
 


Total of all funds


17,208
19,739
(20,144)
16,803

Page 14

 
THE MUSIC CENTRE

(A company limited by guarantee)
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

11.

Summary of funds


Summary of funds - current year

Balance at 1 January 2023
£
 
Income
£
 
Expenditure
£
 
Balance at 31 December 2023
£
 
General funds

13,292

17,507

(16,021)

14,778
 
Restricted funds

3,511

2,808

(4,417)

1,902
 


16,803
20,315
(20,438)
16,680


Summary of funds - prior year

Balance at
1 January 2022
£
 
Income
£
 
Expenditure
£
 
Balance at
31 December 2022
£
 
General funds

15,170

15,427

(17,305)

13,292
 
Restricted funds

2,038

4,312

(2,839)

3,511
 


17,208
19,739
(20,144)
16,803


12.

Analysis of net assets between funds

Analysis of net assets between funds - current year

Unrestricted funds
2023
Restricted funds
2023
Total
funds
2023
        £
        £
        £



Current assets

14,681

7,350

22,031

Creditors due within one year

97

(5,448)

(5,351)

Total 


14,778
1,902
16,680


Page 15

 
THE MUSIC CENTRE

(A company limited by guarantee)
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

12.Analysis of net assets between funds (continued)


Analysis of net assets between funds - prior year

Unrestricted funds
2022
Restricted funds
2022
Total
funds
2022
        £
        £
        £



Current assets

22,780

9,973

32,753

Creditors due within one year

(9,488)

(6,462)

(15,950)

Total 

13,292
3,511
16,803


13.



Reconciliation of net movement in funds to net cash flow from operating activities


2023
2022
£
£

Net expenditure for the year (as per Statement of Financial Activities)



(123)

(405)

Adjustments for:

Decrease/(increase) in debtors
1,824
(2,224)

Increase/(decrease) in creditors
(10,599)
5,345

Net cash provided by/(used in) operating activities
(8,898)
2,716



14.



Analysis of cash and cash equivalents


2023
2022
£
£

Cash in hand
21,631
30,529

Page 16

 
THE MUSIC CENTRE

(A company limited by guarantee)
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

15.



Analysis of changes in net debt





At 1 January 2023
Cash flows
At 31 December 2023
£
£

£

Cash at bank and in hand

30,529

(8,898)

21,631


30,529
(8,898)
21,631

Page 17