|
Registered number: 03779148
Charity number: 1079536
THE MUSIC CENTRE
(A company limited by guarantee)
UNAUDITED
TRUSTEE'S REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
|
|
THE MUSIC CENTRE
(A company limited by guarantee)
CONTENTS
|
|
|
Reference and administrative details of the company, its Trustees and advisers
|
|
|
|
|
Trustee's responsibilities statement
|
|
Statement of financial activities
|
|
|
|
|
Notes to the financial statements
|
|
|
|
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 2025
|
|
R A Frostick, Musical Director
|
Company registered number
|
|
Charity registered number
|
|
|
|
130 Culford Road
London
N1 4HU
|
|
|
THE MUSIC CENTRE
(A company limited by guarantee)
TRUSTEE'S REPORT
FOR THE YEAR ENDED 31 DECEMBER 2025
The Trustee presents the annual report together with the financial statements of the The Music Centre for the 1 January 2025 to 31December 2025. The Annual report serves the purposes of both a Trustees report and a directors' report under company law. The Trusteeconfirms 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 100 children and young people between the ages of 6 and 18, with a particular focus on singing. Across the two centres, in Islington and Southwark, there are 5 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, with provision made for families unable to pay the subscription. We also give regular performances and provide other musical enrichment activities.
d. Volunteers
Our parents volunteer regularly 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 and other former pupils come in to help at concerts and special rehearsals.
|
|
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
Canonbury Primary School is an ideal venue, well suited to the use of children and young people. The premises managers know us well and continue to do all they can to make sure we are safe and comfortable.
In January a large choir of pupils form both Centres rehearsed a song from Malawi for the charity Wateraid and were then filmed. The film was part of the charity’s main fundraising strategy for the year and was shown extensively on social media. It was very well received.
In June a senior choir from the Islington Centre sang at the funeral of well-known theatrep/r Anne Mayer. The young people’s performance was extremely moving and much appreciated by the Mayer family.
In September pupils from both Centres sang for the Thames Festival Kids Choir at The Scoop near Tower Bridge. An audience of 1,000 parents and members of the public gave the children a rousing ovation.
Our Summer and Christmas concerts at St Giles Cripplegate were each attended by audiences of over 500 and were very well received.
The Southwark Centre
The situation in Southwark is exactly the same as in Islington. We continue to use Charles Dickens Primary School. It was good to see Southwark pupils joining Islington singers for the Wateraid filming and the Thames Festival Kids Choir.
b. Fundraising activities and income generation
The financial situation at both centres is stable.
c. Organisational stability
Our staffing and provision are stable.
|
|
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 15 September 2026 and signed on their behalf by:
|
|
THE MUSIC CENTRE
(A company limited by guarantee)
STATEMENT OF TRUSTEE'S RESPONSIBILITIES
FOR THE YEAR ENDED 31 DECEMBER 2025
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 . 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 and signed on its behalf by:
|
|
THE MUSIC CENTRE
(A company limited by guarantee)
STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT)
FOR THE YEAR ENDED 31 DECEMBER 2025
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Music tuition fees and events income
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Tutors and music related costs
|
|
|
|
|
|
Support and governance costs
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total funds brought forward
|
|
|
|
|
|
|
|
|
|
|
|
|
Total funds carried forward
|
|
|
|
|
|
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.
|
|
|
THE MUSIC CENTRE
(A company limited by guarantee)
REGISTERED NUMBER: 03779148
BALANCE SHEET
AS AT 31 DECEMBER 2025
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Creditors: amounts falling due within one year
|
|
|
|
|
|
|
|
|
|
|
|
|
Total assets less current liabilities
|
|
|
|
|
|
Net assets excluding pension asset
|
|
|
|
|
|
|
|
|
|
|
|
|
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 Trustees acknowledge 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 15 September 2026 and signed on their behalf by:
|
|
|
The notes on pages 8 to 17 form part of these financial statements.
|
|
|
THE MUSIC CENTRE
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
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
|
|
|
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.
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.
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.
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.
|
|
THE MUSIC CENTRE
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
2.Accounting policies (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.
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.
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.
|
|
|
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.
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.
|
|
THE MUSIC CENTRE
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
2.Accounting policies (continued)
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.
|
|
THE MUSIC CENTRE
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
|
|
|
Income from donations and legacies
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Investment income - local cash
|
|
|
|
|
|
|
|
|
|
Investment income - local cash
|
|
|
|
|
THE MUSIC CENTRE
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
5.Staff costs (continued)
|
|
The average number of persons employed by the company during the year was as follows:
|
|
|
|
|
|
|
|
|
|
|
|
|
The average headcount expressed as full-time equivalents was 1:
|
|
|
|
|
|
No employee received remuneration amounting to more than £60,000 in either year.
|
|
|
|
Support and governance costs
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Trustee's remuneration and expenses
|
|
|
During the year, no Trustees received any remuneration or other benefits (2024 - £6,000).
|
|
|
During the year ended 31 December 2025, no Trustee expenses have been incurred (2024 - £NIL).
|
|
|
THE MUSIC CENTRE
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
|
|
|
|
Creditors: Amounts falling due within one year
|
|
|
|
|
|
|
|
|
|
|
|
|
THE MUSIC CENTRE
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
|
|
|
Statement of funds - current year
|
|
|
|
|
Balance at 1 January 2025
£
|
|
|
Balance at 31 December 2025
£
|
|
|
|
|
|
|
|
|
|
|
|
Statement of funds - prior year
|
|
|
|
|
Balance at
1 January 2024
£
|
|
|
Balance at
31 December 2024
£
|
|
|
|
|
|
|
|
|
|
|
THE MUSIC CENTRE
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
|
|
|
Summary of funds - current year
|
|
|
|
|
Balance at 1 January 2025
£
|
|
|
Balance at 31 December 2025
£
|
|
|
|
Summary of funds - prior year
|
|
|
|
|
Balance at
1 January 2024
£
|
|
|
Balance at
31 December 2024
£
|
|
|
|
Analysis of net assets between funds
|
|
|
|
Analysis of net assets between funds - current year
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Creditors due within one year
|
|
|
|
|
|
|
|
|
|
|
|
THE MUSIC CENTRE
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
11.Analysis of net assets between funds (continued)
|
|
|
Analysis of net assets between funds - prior year
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Creditors due within one year
|
|
|
|
|
|
|
|
|
|
|
|
Reconciliation of net movement in funds to net cash flow from operating activities
|
|
|
|
|
|
|
|
|
|
|
|
|
Net expenditure for the year (as per Statement of Financial Activities)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net cash used in operating activities
|
|
|
|
|
Analysis of cash and cash equivalents
|
|
|
|
|
|
|
|
|
|
|
|
|
THE MUSIC CENTRE
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
|
|
Analysis of changes in net debt
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|