Finance Score: 5

Governance Score: 3

Support Score: 8

Low unrestricted reserves: -2
Strong growth: +2
Future income +5

Good trustee age range: +3

Overall weighted support: +8

Overall GiG Score: 16

SHEFFIELD MUSIC ACADEMY

Sheffield Music Academy exists to inspire excellence and provide a comprehensive, stimulating programme of learning to musicians aged 4-19 with outstanding ability, dedication and potential across South Yorkshire and beyond. A thriving and vibrant music school; students have the opportunity to develop their talent and grow in self-confidence through over 40 public performances a year.

Analysis by Giving is Great

Positives:

There has been strong growth in spending over the last 5 years
A significant proportion of recent income was derived from major grant makers including the Government and there are significant future grants due to be received
The Board appears to be well diversified in terms of age

Financial issues to consider:

Unrestricted reserves appear to be dangerously low at the latest year end

Financial Data ?

Income & Spending ?

Sources of Income ?

Y/E		Income £k	Spending £k	Surplus/ Deficit £k	Fundraising Cost £k	Total Funds £k	Unrestricted Funds £k	Mths Rsrvs	Staff	Volun- teers
31/07/23		£791	£773	£18	£0	£166	£163	2.5	41	6
31/07/22		£495	£559	£-64	n/a	n/a	n/a	n/a	n/a	n/a
31/07/21		£445	£454	£-8	n/a	n/a	n/a	n/a	n/a	n/a
31/07/20		£471	£448	£23	n/a	n/a	n/a	n/a	n/a	n/a
31/07/19		£378	£388	£-10	n/a	n/a	n/a	n/a	n/a	n/a
31/07/18		£334	£322	£12	n/a	n/a	n/a	n/a	n/a	n/a
31/07/17		£311	£296	£15	n/a	n/a	n/a	n/a	n/a	n/a
31/07/16		£268	£267	£1	n/a	n/a	n/a	n/a	n/a	n/a
31/07/15		£390	£270	£120	n/a	n/a	n/a	n/a	n/a	n/a
31/07/14?		£265	£361	£-96	n/a	n/a	n/a	n/a	n/a	n/a
30/06/13		£297	£333	£-36	n/a	n/a	n/a	n/a	n/a	n/a
30/06/12	*	£290	£278	£12	n/a	n/a	n/a	n/a	n/a	n/a

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Financial Ratios

Fundraising Costs/Relevant Income: 0%
Fundraising Costs/Total Spending: 0%
Highest pay band: Less than £60,000
Liabilities/Assets: 54%
Liabilities/Income: 25%
Unrestricted Funds/Total Funds: 98%
Reserves/Spending: 2.5 months
Net Current Assets/Spending: 3 months
Quick Ratio: 2

Asset Split ?

Balance Sheet History

Established: 13 years

www.sheffieldmusicacademy.org

jess@sheffieldmusicacademy.co.uk

01142582804

Charity Commission for England and Wales

Tweets

Listed activities

Arts/Culture/Heritage/Science
Education/Training
Recreation

GiG Classification

Performing and visual arts

How it operates

Makes grants to individuals
Provides human resources
Provides services

Where it operates

Barnsley, Derbyshire, Doncaster, East Riding Of Yorkshire, Nottinghamshire, Rotherham, Sheffield City,

Who it helps

Children/Young People

Who supports them? ?

Donations from Grant Makers ?

We have details on the following donations. Multi-year donations are allocated to the years for which they are earmarked.

Major supporters in last 5 years

National Lottery Heritage Fund	£251,399
Wolfson Foundation	£200,000
The Postlethwaite Music Foundation	£2,000

Specific Donations

Amount	When Months	To be used for
Wolfson Foundation - Grant to Sheffield Music Academy
£200,000	06/12/2023	Restoration of Canada House to create a music education and performance venue (Harmony Works)
National Lottery Heritage Fund - Grant to Sheffield Music Academy
£251,399	08/03/2023	HERITAGE ENTERPRISE Canada House a home for Harmony Works
The Postlethwaite Music Foundation - Grant to Sheffield Music Academy
£2,000	26/01/2023	Supporting First Generation Musician Families project

Data sourced from Donors via 360 Giving

How is it governed?

Trustees (7)

Current Trustees appointed

Gender Split

Age Range of Trustees: 49-72

ANGELA BRUMPTON Appointed: 2020, Occupation: Solicitor

EMILY PIETERS Appointed: 2018, Occupation: Architect

IAN FALCONER Appointed: 2014, Occupation: Retired

JOHN PAYNE Appointed: 2020, Occupation: Retired

RACHEL MALLABAND Appointed: 2020, Occupation: Manager

SARA UNWIN Appointed: 2022, Occupation: Head Of Cultural Engagement

TRISHA COOPER (Chair) Appointed: 2011, Occupation: Broadcast Journalist

Legal constitution

Charitable company registered in England & Wales on 17/08/2011, number: 1143420
Registered at Companies House on 13/06/2011, number: 07667445

Gift Aid

Registered with HMRC for Gift Aid

Policies in force

Bullying and harassment policy and procedures
Campaigns and political activity policy and procedures
Complaints handling
Complaints policy and procedures
Conflicting interests
Financial reserves policy and procedures
Internal charity financial controls policy and procedures
Internal risk management policy and procedures
Paying staff
Risk management
Safeguarding policy and procedures
Safeguarding vulnerable beneficiaries
Serious incident reporting policy and procedures
Trustee conflicts of interest policy and procedures
Trustee expenses policy and procedures
Volunteer management

Filing Record

12 returns made; AR12: 150 days late,

Main office

Office 9
Shirley House
31 Psalter Lane
Sheffiel

Objectives

THE OBJECTS OF THE CHARITY ('THE OBJECTS') ARE TO ADVANCE THE EDUCATION OF YOUNG PEOPLE OF EXCEPTIONAL MUSICAL ABILITY OR POTENTIAL WHO ARE AGED BETWEEN 4 AND 18 YEARS, IN ALL ASPECTS OF MUSIC AND MUSICIANSHIP.

Data Sources

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