REGISTERED COMPANY NUMBER: 02446126 (England and Wales) REGISTERED CHARITY NUMBER: 1001474 Report of thg Trust￿$ and Financlal Statements for the PerK*J 1 July 202110 31 Mar¢h 2022 for BIRMINGHAM CONTEMPORARY NUSIC GROUP Birmingham Mustc Group L￿ke Williams Associates LLP Chartered Accountants Registered Auditor5 cjo Blacklhom H￿Js8 St Pauls Square Bim)iThJham Wesl Midlands B31RL *A8J2XNA3" 17112f2022 COMPUIES HOUSE A11 #164 BIRMINGHAM CONTEMPORARY NUSIC GROUP Contenls of the Financial Slatements the Period 1 Juty 2021 to 31 March 2022 Page Chairfs Report 1 to 2 Roport ofthe Tntstees Report of the Independent AuditJramme of new music and the poety of national poet Rabindranalh Ta90￿. In November, BCMG brought an evening of night music lo Birmingham's Symphony Hall'5 Jennifer Blackwell performance space and lo 8rislol's AMo￿an1 gallery. featuring six of the best ￿nIemPorary composer's works reflecting the longer nights and the beauty of space. December saw the release lo cinema's of David Sawyerfs Rumpetstillskin,. with a score performed by BCMG and fealufing award winning dance company, Ballet Boyz. Thi8 was followed by the first TV airing of the film on December 23rd. BCMG'S adrnired learning programme continued during thi5 [￿r￿. with the Music Maze, Zigzag and Creative Composing Lab workshop prograrnmes rexhing yourKJ peo5￿e via Zoom. In addition. dozens of resour￿$ have been published online to help young people Compose at home. We know that these have had an inlemalional rea¢h. as well as beirYJ fully utilised within the UK. Wrth the gradual return of live activity, work is taking piace in nine primary s¢hools. BCMG is guiding comFosilion by pupils on the theme of trees,. work is linked to Christian Mason's The Singing Tree commission. This explixatH)n of the environment we live in seems timely. We express our warm thanks to the Paul Hamlyn Foundation for their generous supp)rt of the learning programme in schools. Supporting eady career musicians developing contem￿￿ary music technique5 has already broughl NEXT alumni lo perform with the group as professKJnal players. The NEXT scheme. run in partnership with the Royal Birmingham Conservatoire, continues lo give the widest experience of working with composers and contemporary music specialists lo a group of emergin9 MuS￿lans. who perform and learn with members of the BCMG. Page 1 BIRMINGHAM CONTEMPORARY MUSIC GROUP Chaies Report for the Perh)d 1 July 2021 to 31 Marth 2022 Similady. BCMG works wth the Universty of Birmingham. the Royal Birmingham Conservaloire and Gambfidge University lo deliver workshops lo composers and music students devdoping thew conlempgrary te¢hniques. The BCMG team - under the six-year leadership of Slephan Meier - has shown strong reSi1￿nCe throughout the pandemic. As we continue to see our work impacled in part by coronavirus restrictions. on behaw of the Board, I thank Ihe staff all most warmly for their conts'wed commitment to performing contemporary music in "an everordinales. seven young cornposers are answering the question. Do we need a new compass? Do we need a new cornpass? I BCMG NEXT Sun 20 March 2022 - Chery B10$50m Con¢ert- 8r1ndleyp1a￿. Bimiingham After numerous postponements, our Cherry Blossom Concert in rx)Ilaboration with Ikon Gallery was beautiful. free. and sensory event fof all ages. John Cage's Ftyoanii fille¢J the open-air venue with fragrant music enjoyed by a large audience of over 41)0 peO￿e. BCMG'S admired OLrtreath rKogramme. Leam & Take Part. retumed lo in person delivery during thi5 period with workshops for children. young people. students. and families in our home, the CBSO Cenlre and in schocAs. nurseries. and universities. In the period of I￿S report, this include(I'. Out-of-sehool programme- weekend composing and improvising workshops". Music Maze- S day40ng. Sunday composing W￿kS￿. for young people aged 8-11 al CBSO Centre ZigZ89 Ensemble - 3 day-long. Sunday comwsing and improvi8ing s￿￿kshopS for young people aged 12-18 Creative Comp)sing Lab - 2 day4ong composing workslws {summer, autumn) for young people aged 14-18 DrawIn￿scor1ng - 2 family workshops expl￿n9 new software whi¢h allows usets to create music from images they draw on a screen. Schools prwamme: Listen Imagine Compose Primary- 2-year action research project with 5 primary sthools in Birmingham and 3 in Bristol involving professional eomposer5 working with children in Year 4 to compose their own music 5UPPOrted by the Paul Hamlyn Fourtdalion. In this per￿d there were 75 workshops in ￿hc￿ls. The pr¢>Jramme also indudes professiona deve5opmenl for composers and leathers. Other.. MUsud¢x￿le￿o- 5 crealNe themed music making se5sbJns in exh of three eady yews settings115 in total) Higher eilucalion masterdas5e5 on comp05ing for particular instnjments or combinations of instruments (harp. pereussion. violin & prdno) for students at the university of Birmingham and 1 day of workshops playing through sludenl work at the Royal Bim)ingham Conservaloire. Learning Resources Website.. BCMG'S leaming resources website is directed at teachers, workshop leaders and young composers. New content continues lo be adde(l in parallel wlh learning projects. FUTURE PLANS As the ¢ounlry ￿tum$ lo nomialty. postwndemic. so the BCMG programme brings trfAh rescheduled events and new concert programmes to its audieno. An exciiing kYOPCt wilh the Barber Institute sees BCMG performing Michael Zev Gordon's Raising Icarus. A raw and kX)werful new chamber opera by Michael Zev Gordon breaks open an ancient myth lo reveal ils contemporary. psychdogical heart - h¢)w parental expectation and aspiration risk doing harm to our children. Connecting the creative ryties of Birmingham and Brislcl. a programme celebfaling wcwk by form BCMG Artist in Residence, Oliver Knussen and a Iribule to Harrison Birtsvhi5de who 5adty passed way in April.. Eccentric Melodies explores the melOd￿S of these Icon￿ composers. Page 6 BIRMINGHAII CONTEMPORARY MUSIC GROUP (Registered Trumber.. 02446126) Report of the Trusteas for the Period 1 July 2021 10 31 March 2022 lannis Xenakis brings BCMG and partners Sound and Music. Unrversity of Birmingham. and P￿'sm (Royal Northern College of Music) lo create a festwal for all senses. As a celebration of Xenakis. ￿ntenary. we will be performing exciting pieces of his work alongside visuals by animator Simon Russell and malhemalician Marcus du Sauloy, as wdl as txinging the new Synesth&sia graphic score sofwe to ihe concert hall. Synesthesia (yeated by Lamberto Coccioli & Joe Wrwht ollntegra Lab, Royal Birmiryham Conservatoxe. We offer the 13th performance of Stockhausen's Sternklang as part of the Achl Brocken Festival in the Schlosspark 8ruhl- a proje¢l long delayed but much ants"cipated. We also have a Music in Dialogue concert with Neel Kamrul frorn Bangladesh. Ondrej Adamek and Rohan de Saran fusing music from (Jiverse cultures. Later in the year, a celebration of Elliott Cartef and George Lewis, a recording of music by Richard Baker and 8 new commission from our own oboist. Melinda Maxwdl bring fresh and innovative music lo our public. In addition to these perfofflianee$. 8CMG's Leam & Take Part Progranme eontinues its highly acclaimed ogramming. offering creative music makn.ng workshops to young people in school and out of school, along with continuing professional development fty e(kncators. and compx)sers and musicians wanting to work with young people. FINANCIAL REVIEW Principal funding sources The Compan￿$ principal funding sourees were revenue grant income from Arts Council England of £245.622 12021.. £319,653) and from City of Birmingham Symphony Orchestra of £12,08412021.. £9,063)- other grant income ol £012021.. £8,0451,- sponsorship and donations of £189.711 (2021.. £102.051).' and earned ir￿orne arising from charitable activities of £58.83212021.. £44.777). Results NO￿lth$tandIng the continuing backdrop of cth in the wblic fvnding of arts organisations and continued financial pressure on grant-making bodies and indNiduals, the Company pursued an ambitious wogramme of work that sought to demonslrale its commitment to innovation and excdlence in artisk perfomance. The Company's nel surplus for Ihe year after transfers was £36.454. Reserves policy The Charity is run in accordance wrlh a medium to lo￿terM fwncial framthyork of a balanced budget. Therefore, whilst within any one financial year a surplus or deficit may be recorded. il is the Trustees. intention that the Company will always k in a financial position to settle ils liabilities as they fall due. For this reason, whilst the Company's core grant and revenue funding is relatNely stsble, the Cornpany operate5 a reserves policy that seeks lo protect against Ur￿pected cosls or shorttalls in project funding with respect to its artistic programme. Consistent with the last years, the Truslees have tsken the v¢ew that reserves ShO￿d equate lo three months. support costs in the medium term_ The general (unrestr￿ed) reserves ￿rrIed fomard al 31 March 2022 of £127,380 (2021.. £114.2741, meel this tsrgel. Free reserves. exduding fixed assets. were £114.161 (2021.. £92,662). The Dffectors Mll continue to monitor the adequaty of reserves in the light of the Company's fundlng stalLbS and will reKAenish them as requYed over the medium lemi. Reseryes are sel out in Note 16 to the Financial Statements. Golng Goncem The financAal statements have been prepared on a going concem basis as the truslees believe that no material un¢ertainties exist. The trustees have conshlered the levd of funds held and the expected level of income and expenditure for 12 months from the date of authoris1￿ these financial stslements. The budgeted income 2nd expenditure is Suff￿lent wilh the level of fesepies for the charity to be able to o)ntinue as a going concern. Page 7 BIRMINGHAM CONTEIIPDRARY MUSJC GRDUP (Registered number". 02446126) Report of the Trustees for the Period 1 July 2021 10 31 March 2022 Future developments Funding for the arts continue5 to be a challenge. least for an organisalioft such as BCMG which is seeking lo bring new work to a wider publ￿. The Directors recognise the challenges that 8CMG faces and have inslig8led several work streams to help address Ihese issues. The fulure programme is ambitious. and quality will never be compromised despite the financial pressures. At the same lime. we will rigorously monitor the rinancial progress of all projects againsl ￿re￿IlY designed budgets and ensure that the Company always has sufficient reSoUr￿S lo fulfil Ils ambitions. STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document Birmingham Contemporary MUS￿ Gri)up 15 a Company and is therefore governed by tts Memorandum and Articles of Association. The Company is limited by guarantee. The Directors of the Company are also members and as such they guarantee lo conlribute lo the assets of the Company. in the event of it being wound up, such amount as may be required and not exceeding £1. The Company is also registered as a Charity with the Charity Commission and is therefoTr subfrect to the Charily Commission's rules. As a Charity. the Company. in the opIn￿n of tis Directors. complies with the requiremen15 Of Section 60 of Ihe Companies Names Act 2006 which exempts the Charity from the requirement lo include 'Limtled" as part of its name. Rfjcruitfflent and app04ntment of new t￿￿•8$ The idenlrficalion of suitable Trustees considers the skills required by the Board at the lime. Trustees are limited lo serving ￿0 lemis of three years each. Organisational structure The Board of Trustees, of which the minimum number is ts¥o, govern$ the Charty. The board meets on a formal basis at least four lime5 a year. In addition. and where necessary, separate sulKommittees are formed as required to examine specrfic asFects of the Charity's work. The Board's responsibilities indude the review and approval of the quarterfy and annual accounts. approval of artistic plans and adoption of Company policies. The Board appoints an Artistic Director vtho is also Chief ExecutNe orficer. lo manage the day-to-day operations of the Charty. STRUCTURE. GOVERNANCE AND MANAGEMENT Inductlon and trainlng of new tfustees Each Trustee receives an induction pack a￿1 has an introductory meeting with staff. Each Trustee has the right lo receive training. at the Company's expense. in order that they may understand their legal obligations and fulfil their roles. In addition. the Tnjstees are encouraged lo meet Ihe Company's employees and players on a regular basis in order lo understand the organisalion beller and thus facilitate the undertaking of their duties. Key rnanag•ment remuneration The Board of Directors (Trusleesl arKI the Ch￿f Execulive cornprise the key management personnel of the charity in charge of dire¢ling arKI controlling. running. and operating the charity on a day4trday basis. All Directors give of their time freely and no dI￿lor received ￿rnunerat￿n during the year. The pay of staff is reviewed annualty. Relationship with the CBSO Whilst a separate organisation. the Company has a close workn￿ relationship with the City of Birmingham Symphony Ofcheslra I'CBSO"): Several ol the Company's players have Lwtracts ofemployment with the C8SO'. The Company rents offKe space from the CBSO and the iwo companies Sha￿ many ofthe same facilities provided by the CBSO. Page 8 BIRMINGHAII CONTEMPORARY MUSIC GROUP (Registered number". 02446726) Report of the Trustees for the Peri¢xl 1 July 202110 31 March 2022 REFERENCE AND ADMINISTRATIVE DETAILS Risk managemont The trustees have a duty lo idenlfy and review Ihe risks lo which the charty is exposed and to ensure appropriate controls are in place to provmle reasonable assurance against fraud and error. The trustees have a risk management strategy which comwses.. A periodic review of the risks which the Charty faces.. The establishment of systems and procedures lo miligale identrfied risks.. The implementation of prC￿￿reS to minimise Ihe im￿1 of any risks whKh materialise. REFERENCE AND ADMINISTRATIVE DETAILS Registerod Company number 02446126 (England and Wales) Registor￿ Charity numb•r 1001474 Reglstered offlce CBSO Centre BeT￿eY Street 8irmingh2m West Midlands B1 2LF Trustees K W Baird {Acting Chair) J Chamberfain L Coffey P Collier (resigned 8 Sep 2011) S D M Easlburn {resigned 16 Feb 2022) A D Jackson N Jonah A Rahman G J Spruce B R Winlon Auditor8 Locke Vvilliams Associates LLP Chartered Accountants Registered Auditors clo Blackthorn House Sl Pauls Square Birmingham Wesl Midlands B31RL Page 9 BIRMINGHAM CONTEMPORARY MUSIC GROUP IRegistered number: 02446126) Report of Trvstees for the PerwJd 1 July 2021 to 31 March 2022 STATEMENT OF TRUSTEES. RESPONSIBILITIES The Iruslees (who are also the directors of Birmingham Contemporary Music Group for the purposes of company law) are responsible for preparing the Annual Report and the financial stalemenls in accordance with applicable law and Unrted Kingdom Accounting Standards {Uniled Kingdom Generally Accepted Accounting Practice) including Financial Reporting Stan0*d 102 Yhe Financtal Reporting Standard applicable in the UK and Republic of Ireland" Company law requires the trustees to prepare finarKial statements for each financial year which give a true and fair view of the slate ol affairs of the charitable company and of the incomirKJ resources and application of resources. including the income and expenditure. of the charitable company that period. In preparing those financial statements, the Iru51ees are required to select suitable accounting poliaes aThJ then ap￿ them consislenyy.. obseNe the methods and principles in the Charity SORP. make judgements and eslimales Ihal are reasonable and prudent.. prepare the financial slalements on the going conwn ba515 unless it is inapwopriate lo wesume that the charitable Company will continue in business. The Iruslees a￿ responsible for keeping propw ac0￿nting rec(ffds wh￿h disclose ￿th rea59nable a¢curxy al any time the financial ￿511￿)n of the charitable company and to enable them to ensure that the financial slaiemenls CoM￿Y with the Companies Acl 2006. They are also responsible safeguarding the assets of the charitable company and henee for taking reasonable steps for the prevention and detection of fraijd and other lffegularities. In so far as the Iruslees are avrare: there is no rdevanl audit inf(wfflalron of which the charitable compan￿$ audillys are unaware", and Ihe Iruslees have taken all steps that they thjghl to have taken to make themselves aware of any relevant audit information and lo establish thal the auditors are aware of thal informalw)n. AUDITORS The auditors. Locke Williams Assochqtes LLP. will be prowsed f(K re-appointmenl at the f￿th(OmIThj Annual General MeelirKJ. This report has been wepared in accordarKe with the speaal provisions of Part 15 of the Companies Act 2006 relating to small ￿mpanieS. Approved by order of the board of trustees on 2> July 2022 and signed on its behalf by". A D Jackson - Trustee PwJe 10 LOCKEWILLIAMS ASSOCIATES LLP Report of the Independent Auditors to the Trust•es of Birmlngham Contemporary Muslc Group (Reglstergd number: 02446126) Oplnlon We have audited the finarrial statements of BimirvJham Contemporary Music Group (the 'charilable eompany'l for the period ended 31 Mareh 2022 which eomwse the Slalemenl of Financial Activities. the Balance Sheet. the Cash Flow Statement and notes lo the finanaal stalemenls, including a summary of significant accounting policies_ The financial rewting framework that has been ap ￿led in their preparation is applicable law and United Kingdom Accounting Standards {Ulliled Kinglom Generally Accepted Accounting Practice), induding Finanryal Reporting Standard 102 'The Financ￿1 Reporting Standard applicable in the UK and Re￿￿1C of Ireland.. In our opinion the finanaal statements: give a true and fair view ol the state of the charitable companYs affairs as al 31 March 2022 and of ils incoming resources and applicalton of resourGe5. induding 115 income and expenditure. for the period then ended-. have been properfy prepared in accordance with Uniled Kingjom Generally Accepted AeciyJnling Practice. includiThJ Financial Reporting Standard 102 The Finawal Rew)rting Standard applicable in the UK and Republio of Ireland and have been prepared in accordance wih Ihe requ1￿mentS ofthe Companies Act 2006. Basis for opinion We conducted our audit in accordartce wth Internat￿nal Standards on Auditing (UK) IISAS {UKII and applicable law. Our responsibilities under those standards are further described in the Audrtors, responsibilitie5 for the audit of the financial statements sects'on of our rewrt. We are inde￿ndent of the charitable company in accordance with the ethical requirements that are relevant lo our audit of the financial statements in the UK, including the FRC'S Elhieal Standard, and we have fu￿lled our other ethical reswnsibililies in accordance with these requirements. We believe that the audit evidence we have obtained is sufficienl and appropriate lo provide a basis for our opinion. Concluslons rdating to going ryincèrn In auditing the financial stalemenls, we have concluded that the trustees. use of the goiThJ concern basi$ of .accounting in the Pfeparabon of the financial statements is appropriale. Based on the work we have perf¢ymed. we have not identrfied any material uncertainties relating lo events or conditions that. indwidually or collectively. may east sHJnfficanl doubt on the chariiable company's abilty to continue as a going concern for a peri¢MJ of at least ￿ve monlhs from vthen the financial statements are authorised for issue. Our responsibilities and the responsibilit￿ of the trustees wth respect to going concern are described in the relevant sections of this report. Oth•r Infomiatlon The trustees are reSWnsit￿e for the other infcfmation. The other infomalion comprises the information induded in the Amual Report, other than the financial statements and our Report Of￿ Independent Auditors Ihereon. Our opinion on the finanual slalemenls does not cover Ihe other inforrnabon and. except to the extent otherwise explicidy staled in our report. we do not express any form of assurance conclusion Ihereon. In connecl*)n with our audit of the financial statements. our responsibility is to read Ihe olher information and, in doing so. consider whether the other infijmialion is malerialty inconsistent with the financial slalemenls our kno￿edge obtained in the audit or otherwise appears lo be materkqlly misstated. If we identfy such material inconsistencies or apparent material misstalemenls. we are required to determine wheiher thi5 gives rise lo a material misslatemenl in the financial statements themselves. If, based on the work we have performed. we ¢onclude that there is a material misstalement of this information, we are required to report that fact. We have nothing to report in this regard. Page11 LOCKEWILLIAMS ASSOCIATES LLP Report of the Independent Auditors to the Trustees of Binningham Contemporary Music Group (Registered number: 02446126) A fLtrther description of our responsibililies for the audit of the financial statements is located on the Financial Reporting Council'5 website al wvhv.frc.org.uklauditorsresponsibililies. This description forms part of our Report of the Independent Auditors. Matters on which we are required to report by exception We have nothing to rep)rt in respect of the fdlowing maiters vthere the Charities {Ac¢>yJnts and Reports) Regulations 2008 requires us lo report to you rf, in our opinion.. the information given in the Report of the Trustees is irtonsislent in any material respect with the financial ststemenls" or the charitable company has not kept adequate accounting records,. or the financial statements are not in agreement with the accountirvJ records and returns.. or we have not received all the infomiaiion and explanations we require for our audit. Responslbllities of trustees As explained more fully in the Statement of Trustees. Responsibilities. the trustees {who are also the difectofs of the tharita￿e company for the purposes of company lawl are fe5ponsible for the preparation of Ihe financial 518lemenls and for being satisfied that they give a true and fair view. and for suth internal control a$ the Iruslees determine is necessary lo enable the preparation of financial statements that are free frorn material misstatement, whether due lo fraud or error. In preparing the finanual slatemenls, the trustees are reskx)nsible for assessing the eharilable Company s ability to continue as a going concem. disclosing. as applicable. matters related lo wing concern and using. the going concern basis of aceounling unless the trustees either intend lo liquidate the charitable company or lo ￿ase operat￿nS. ￿ have no realistic alternatNe but lo do so. Our responsibilities for the audit of Iho financial sL*ements We have been appointed as auditors under Seel>)n 144 of the Charities Act 2011 and report in accordanee with the Act armfj relevant regulations made or having effect thereunder. i)Jr objectives are lo obtain reasonable assurarte aljoul whether the financial statements as a whole are free from material misslalement. whether due lo fraud or error. and lo issue a Report of the Independent Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee th81 an audit conduded in aC￿rdan￿ with ISAS (UK) wdl always deled a material misslatemenl when il exists. Misslatemenls can arise from fraud or efror and a￿ considere(I material rf, individually or in the aggregate. they could reasonably be expected to Influen￿ the ecorM)mic decisi0ft5 of Use￿ tsken on the basis of these financial slalemenls. The extent lo which our procedures are ￿pable of detecting Irre￿I*ll￿es. indudirvJ fraud is detaded below.. We gained an understanding of the legal and regulatory framework applU￿e to the company and the industry in which it operates. armj Cons￿ered the risk of acts by the company that were conlfary lo applicatle laws and regulations. including fraud. We designed audit procedures to respond lo these risks, recognising that the risk of nol delecling a material misstslement due to fraud is higher than the risk of nol delecling one resulting from error. as fraud may involve deliberate concealment by. for example, forgery or intentional misrepre3enlations. or through collusion. We focussed on laws and regulations wh￿h gNe rise to a m8terk41 misslalemenl in the financial ststemenls. Including. bul not limited lo. the Companies Act 2006 and UK tax legislatK)n. Our lesis included reeing the financial slalemenl disdosures to underlying supporting documentation, enquiries with management and enquiries of third parties where apwopriate. As in al our audits. we also addressed ￿ risk of management override of intemal controls. including tesling journals and checking the authrxisalion of expenditu￿ as part of our subslantive testing, using analytical review to identrfy any signrficanl or unusual tranSaCt￿nS and evaluating whether there was evidence of bias by the twstees that rek*e$enta a rrsk of materral misststement due to fraud. Page 12 LOCKEWILLIAMS ASSOCIATES LLP Report of the Independent Auditors to the Trustees of Blmiingham Contemporary Music Group (Regislered number: 024461261 There are inherent limitations in the audit procedures described above arKI. the fvrther removed non- compliance wth laws and regulatK)ns is from Ihe events arKI Iransactions reflected in the financial slalementS, the less likely we would bec(wne aware of rt. We di¢J not any key audit matters retaling to irregularitie5. induding fraud. Use of our report This report is made soldy to the c￿ltable company's trustees, as a body. in a¢¢￿dance with Part 4 of the Charities {Accounls and Reports) Regulab"ons 2008. Our audit work has been undertaken $0 that we might stale lo the charitable company's trustees those matters we are required lo stale to them in an auLlilors' report and for no olher purpose. To the fullest extent permitted by law. we do not accept or assume responsibility to anyone other than the charitstAe company and the ch￿tsbIe coMpan￿S trustees as a body, for our wdil work. for this report. or for the opinions we have fomied. JwlLtL Locke WS11iams Ass(*iales LLP Chartered Acwjntants Registered Auditors EIMJible lo act as an auditor in ternis of Section 1212 of the Companies Act 2(K16 clo Blackthorn Hwse Sl Pauls Square 8irmingham West Midlands B31RL 16 Decembw 2022 LW TRUSTED ACCOUNTING SOLUTIONS I ICA£W CHARTERED ACCOUNTANT5 IPIT:012J Pa e13 info@lockewilliams.com www.lockewilliams.com BIRMINGHAM CONTEnpoRARY MUSIC GROUP Statement of Financial Activities (Incorporating an Income and Expenditure Account) . for the Pericrty 1 July 202110 31 March 2022 Pèriod 1.7.21 to 31.3.22 Total funds Year Ended 30.6.21 Total funds Unrestricted Restn"eled funds funds Notes INCOME AND ENDOWMENTS FROM .Granls and donatsons 324,652 147.037 471,689 495.447 Charltable activities 8CMG Own promotions Co-Promolions Engagements Leam & Take Part Sector development 22.$33 10.000 10.764 22,533 10,000 10,764 5.378 10.157 9.150 23.677 1.560 10,338 52 5,378 10.157 Other Irading activit . Investment income . Other in¢ome 2,885 12 24.$02 2.885 12 24.502 5.670 Total 405.505 152.415 557,920 545.915 EXPENDITURE ON Raising funds 39.874 39,874 38,143 Charltable actIvI￿o5 BCMG Own promotions Co-Promolions Engagements Learn & Take Part Sector development Core Marketing Salaries- lo be recodedl Commissioning 147,741 55,158 42,672 48.300 56.054 147.741 55.158 42,672 177,367 56,054 181,003 110,395 8,401 143,183 33.171 129.067 2.600 Total 129.067 $21.466 514,296 NET INCOME 13,106 23,348 3Q454 31,619 RECONCILIATION OF FUNDS Total funds brought forward 114,274 114274 82.655 TOTAL FUNDS CARRIED FORWARD 127.380 23.348 150.728 114.274 Th8 notes form part of these fina￿181 statements Page 14 BIRMINGHAM CONTEMPORARY MUSIC GROUP {Registered number: 02446126) Balance Sheet For the Pwiod Ende(131 Marth 2022 31.3.22 Total fund8 30.6.21 Total funds Unrestricbj Restr￿ed nds funds Notes FIXED ASSETS Tangible assets 13 13.219 13.219 21.612 CURRENT ASSETS Debtors Cash al bank and ui hand 14 105.380 187.241 105.380 210.589 58,203 292.621 23,348 315.969 274,289 CREDITORS Amounts falling due within one ye 15 (178,460 (178.460) {181,6271 NET CURRENT ASSETS 1*4.161 23.348 92.662 TOTAL ASSETS LESS CURRENT LIABILITIES 127.380 23,348 150.728 114.274 NET ASSETS 127,380 23.348 150.728 114.274 FUNDS Unrestricted funds.. General fund Reslricled funds.. Oonor specified 16 127.380 114,274 23.348 TOTAL FUNDS 114.274 The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31 March 2022. The members have not deposited notice. wrsuant to Section 476 of the Compani8s A¢1 2006 requiring an audit of these financk21 slatements. The Injslees acknowledge their responsibilities for la) ensuring that the charitable company keeps accounting reoyds that comply with Sections 386 and 387 ofthe Companies Act 2TrJ6 and Ib) preparing financial statements wh￿h gNe a true and fair view of the stale of affairs of the charitable company as al the end of each financ￿1 year and of its surplus or def￿11 for each financial year in accordance with the requiremenls of Sections 394 and 395 and which otherwise comply with the requirements of the CompaNes Act 2006 rdating to financial statements, so far as appl￿ble lo the charitable company. These financial statements have been audited uThJer the requirements of Secti)n 145 of the Charities Act 2011. The notes f(Km part of these financial statements Page 15 BIRMIPIGHAM CONTEMPORARY MUSIC GROUP {Registerod number: 02446126) Balance Shaet- continued For Ihe penod ended 31 March 2022 These financial slalemenls have been prepared in accordance wth the provisrons applicable to charitable companies subjecl lo the small companies regime. The financial statements were approved by Ihe Bo¥d of Trustees and authori5ed for issue on 22r￿ July 2022 and were signed on ils behalf by= A D Jackson - Trustee The notes form pwt ofttrw financial statements Page 16 BIRMINGHAII CONTEnPDRARY MUSIC GROUP Cash Flow Statement Period 1 JU￿ 2021 to 31 Mar¢h 2022 Pgriod 1.7.21 to 31.3.22 Year Ended 30.6.21 Notes Cash flows from operating xtivities Cash generated from operalK*ns 19 Net cash (used inyprovided by operating actNities Cash flows from invasting activities Purchase of tsngible fixed asseis Interest received 18.572) 15 12 Nel cash provided byl{used inl investing actNities 12 8.5571 Change in cash and cash wuival•nts in the reporting period Cash and cash equlvalents at the beglnning ofthe reporting period (S.497) 56,737 159,349 Cash and ca$h equivalents at th• •nd of the rgporting period 210.589 The notes fo￿ part of these financial statements Page17 BIRMINGHAN CDNTEMPORARY MUSIC GROUP Notes to the Financlal Statements for the Period 1 July 202110 31 March 2022 ACCOUNTING POUCIES Basis of preparing the financial sLit•ments The financial slalements of Ihe charitsble company. whth is a pu￿Tr¢ ber*fil entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 1021 'Accounling and Reporting by Charities.. Sialemenl of Recommended Praclice applicable lo charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 102) leffeclive 1 January 20191.. Financial Reporting Slandard 102 The Financial Rewrting Standard applicable in the UK and Republic of Ireland. and the Companies Act 2006. The financral statements have been prepared under the historical cost convention. Income All income is reco￿¢$8￿ in the Statement of Financial AclNilies once the charity has entitlement lo the funds, it is probable that the income will be recewed and the amount tan be measured reliably. For grants and donations to be recognised. the chwity will have been notified of the amounts and the setdemenl dale in writing. If there are condition5 attached lo the donation and this requires a level of performance before enlillemenl can be obtained then income is deferred until those condition5 are fully mel or the fulfilment of those conditions is within the contryA of the charity and il 15 probable that they V￿11 be fulfilled Incomefrom charitable activities includes ticket and fee In￿Me earned from undertaking performances. engagements and recordings. Income is received in exchange for supplying goods and 5erwices in furtherance of the charita￿e objectives and is recognised when entitlement ha5 oc¢urred. Interest on funds held on deposit is induded when receivable and the amount can be measured reliably by the charity.. this is normally uwn notffication of the interest paid or payable by the Bank. Expenditure Liabilities are recognised as expenditure as soon as there is a legal orconstrudive obligation comrnilling the charity to that expenditure. rt is probable that a Iransfer of e￿nomiC benefrts will be required in settlement arKI Ihe amount of the obligat￿n can be measured reliably. Expenditure is accounted for on an ¥cruals basis and has been Classif￿ under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to part￿1¥ headings they have been allocated to activities a basis ¢onsislenl with the use ol resources. Costs are shtyvn nel of any recoverable VAT. Allocation and apportionment ol cosls Charitable activity costs Trndude those direct costs incurred in the furtherance of the charitable actives and are analysed befvleen the significant acb'vities undertaken. Supwt {corel costs are those that assist the work of the charity lyjt do not directly represent charitable a¢tivilies and include office costs. governance costs. administrative payrc41 costs. They are incurred directly in support of expenditure on the objects of the charity. Wheie support costs cannot be directly attrtbuled lo parbcular headings Ihey have been allttated to cost of raising funds and expenditure on charital￿e aclivilies on a basis consistent with use of the resources. Payroll cosls been allocated to activities on the basis of employees involvement in each activity and other overheads, including general marketing and govetnance costs, have been allocated in proportion to ir￿ming resources by aclNity. Fund￿al$lng costs are those incurred in seeking voluntsry contributions and (h) not indude th8 costs ol disseminating information in support of the charilable ￿tr￿it￿$. Intangibl• fixed assots Amortisalion is provided at following annual ral85 in order Io V*Yite off each asset over ils estimated usefvl lrfe. Page 18 BIRMINGHAH COXTEMPORARY MUSIC GROUP Notes to the Financial Statements- continued for the PerM)d 1 July 2021 10 31 March 2022 ACCOUNTING POLICIES - continued Intsnglble fixed assgts Other intangible assets {Software} - 33% on cost Tangible fix8d assets Depreciatron is provideil al trte follthmng annual rates in order to write each asset over its estimated useful lrfe. Computer equipment 33% on cost arKI 20% on c05t Office equipment Musical equipment 33% on cost 33% on cost Taxatlon The charity is an exempl charity within the meaning of sthedule 3 of the Charitie$ Act 2011 and is considered to pass the tests set out in Paragraph 1 Schedule 6 Finance Act 2010 aThJ therefore it meets the definilitin of a charitable company for UK eorporalion tax purposes. Fund accounting Unrestricted fvnds can be used in accordan￿ ￿th the charitsbie obieclives al the dtscrelion of the trustees. Restricted funds can onty be used for partioJlar restricted purposes within the objects of the charity. Reslriclions arise when spectfied by the donor or when funds are raised for particular restricted purposes. Further explanation of the nalure and purpose crf each fund rs tr￿luded in the notes lo the financial statements. Pension costs and other post-retiremenl benefrts The charitable company operates a defined ￿ntribUtIOn pension scheme. Contributions payable to the charitable company's pensHJn scheme are charged to the Stslemenl of Financial Aclivilies in the period to which they relale. Hire purchase and leasing commitments Rentals paid under operating leases are charged to the statement of financial aclivities on a Stra￿ht line basis over the period of the lease_ GRANTS AND DONATIONS Pèri¢xl 1.7.21 to 31.3.22 Year Ended 30.6.21 Sponsorship arKJ donatK)ns Grants 189.711 281.978 102,051 393.396 495.447 S(yJnd Investment Charitable Twsts and foundations General Donatior￿ arKI Gift 9,889 165.222 14.600 6.081 90,774 5,196 189,711 102.051 Page 19 BIRNINGHAPI CONTEMPORARY MUSIC GROUP Notes to the Ftnan¢ial Statements- contlnu8d for the Peric#J 1 July 202110 31 Marth 2022 GRANTS AND DONATIONS- conllnued Grants received. included in the atthie. are as follows: Perlod 1.7.21 lo 31.3.22 Year Ended 30.6.21 Art$ Council England. West MKllands Arts Couneil England. Cultural Recovery Fund CBSO Other grants 245,622 24.272 12.084 319,653 56,635 9,063 8,045 281.978 393,396 OTHER TRADING ACTMTIES Period 1.7.21 to 31.3.22 Year Ended 30.6.21 Sales of CDS. music scores elc INVESTMENT INCOME Period 1.7.21 to 31.3.22 Year Ended 30.6.21 Deposit accwnt interest 12 15 INCOME FROM CHARITABLE ACTivrriES Period 1.7.21 to 31.3.22 Year Ended 30.6.21 Athvity BCMG Own prorThXions & QFPromotions Engagements Learn & Take Part Sector development 32.533 10.764 5,378 10,157 32.827 10.338 52 Page 20 BIRMINGHAM CONTEMPORARY MUSIC GROUP Notès to the Financial Statements - continued fty Period 1 Juty 2021 to 31 March 2022 CHARITABLE ACTIVITIES COSTS Support C051s (see note 7) Direct Costs Totals BCMG l￿wn promotions Co-Promotions Engagements Leam & Take Part Sector development Commissioning 147.741 55.158 42,672 177,367 56,054 2,600 3.0001 147,741 55.158 42,672 177,367 56,054 3.000 3.000 481.592 8CMG Leam & Secic 2022 2021 Costs of p•rf¢rnwr￿e.' M￿￿rts, ￿LIts fees C￿r¢￿t ewer Pro￿1 staff comM&sts￿4 Marketi 24,619 37.ts4 14,810 4127 11.003 118.064 51,652 eo,683 179,176 78.435 49.198 75 12,129 1683 15.908 2.8QO 4,110 4110 66.123 18.937 3,683 129.067 17,128 2,600 237.538 200.50) supp￿ and Mmlnlstratlon of th Charity Ino¢• 71 Salaries ￿tIo1￿] Ir*war¢e 53.761 Rert rates ar¥J I￿ur¥￿e 6.325 Gerw31 rrBrketirnJ 1052 Teleptrorfj. postage ar￿ slatbj 656 Oth 5,674 Dekwe(*bL*I 3,215 76.683 8YJ 1807 21682 ' 41.653 1021 26,370 2.851 1J76 171,325 174,561 16,513 32,748 7.968 11,304 12.156 1,692 14,813 8,394 7.561 231.169 259.982 728 1,111 1066 1518 1224 1710 1.536 36.631 2.$57 1.449 36.702 767 34.031 47.122 GOVwnar￿e costs SalarBs ￿t10rd IrÉw A￿￿1 ac(x)urta 1,706 518 9.985 12.713 2,958 15.671 510 Z190 274 4.935 1358 1,17• 2,234 12.885 5*158 41672 17T.367 56,054 2,EOO 481.592 476.153 Page 21 BIRNINGHAM COIITEMPORARY HUSIC GROUP Notes to the F•nan¢ial Statements- continued for the Period 1 JU￿ 2021 10 31 March 2022 SUPPORT COSTS Supwrt (corel Costs are those that assist the work of the charity but th not directly represent charitable activities and indude office costs. g0Veman￿ cosls, administrative payroll Costs. They are incurred directly in support of expenditure on the objects of the charity- Where support costs cannot be direcvy altribuled to partKular heading5 they have been allocated lo Cost of raising I￿￿1$ and expenditure on charilable aclivities on a basis consislenl with use of the re50ur¢es. Payroll ￿51$ been allocated io actNities on the basis of employees involvement in each a¢livty and other overheads, induding general m8rketiro and governance costs, have been allocated in proportion to irwming resources by aclivity. NET INCOMEIIEXPENDITURE) Nel incomel{expendilure) is staled after chargin￿{{￿ed1I1ng>". Period 1.7.21 to 31.3.22 Year Ended 30.6.21 Auditors. remuneration Depreciation- owne(J assets 3,IXIO 2.958 7.561 TRUSTEES. REMUNERATION AND BENEFrrs There were no trustees. remuneration or other benefits for Ihe penod en¢Jed 31 March 2022 nor for the year ended 30 June 2021. Trnstees. expenses No Iruslees receive(1 re1ml￿r8eMent of (MJI of pmxket expenses for the penod ended 30 June 2021 12020 two ￿1Ved £2751. 10. STAFF COSTS Period 1.7.21 Year Ended 30.6.21 31.3.22 Wages and salaries Social security costs Other pension ¢osts 204.444 13.189 246,464 14,939 11,712 221.084 273.115 The average monthly numbw of employees during the perM)d was as follows: Pèriod 1.7.21 Year ETrJed 30.6.21 31.3.22 Management and administration Project staff 10 10 Page 22 BIRNINGHAH COIITEMPORARY MUSIC GROUP Noles to the Financial Statements- continued for Ihe Period 1 ju￿ 2021 to 31 Mwth 2022 10. STAFF COSTS- continued No employee5 received em(4uments in excess of £60.0(KI. The total amount of employee benefits receNed by key managemenl personnel is £35.534 12021 £46.1271. The Trust considers ils key management personnel comprise the board of directors. who are the Trust's Iruslees and are unpaid. and the Sen1￿ management team. 11. COMPARATIVES FOR THE STATEMENT OF FINANCIAL AcnvmES Unrestricted Restricted funds funds Total funds INCOME AND ENDOWMENTS FROM Grants and donations 403.677 91,770 495.447 Charitable actlvities BCMG Own promtions C¢>Promolions Engagements Learn & Take Part Sector development 9.150 23.677 1.560 10.338 52 9,150 23.677 1.560 10.338 52 oitw trading actNf(ies Investment income Other income 15 5.670 5.670 Total 454.145 91,770 545.915 EXPENDITURE ON Raising fund$ 38.143 38,143 Charltable activitles BCMG Own promotions Co-Promolions Engagements Learn & Take Part Sector deveiopmenl Core Marketing Salwies - to be recoded! 181,003 110.395 8,401 143,183 33.171 (106.0921 181,003 110.395 8.401 143.183 33.171 106.092 Total 408.204 106.092 514 296 NET INCOMEI(EXPENDITURE) 45,941 {14.322) 31,619 RECONCILIATION OF FUNDS Total funds broughl forward 68.333 14.322 82,655 TOTAL FUNDS CARRIED FORWARD 114.274 114,274 Page 23 BIRMINGHAM CONTEMPORARY MUSIC GROUP Not¢$ to thg Financial Statements- continued for the Period 1 July 2021 to 31 March 2022 12. INTANGIBLE FIXED ASSETS Other intangible assets COST At 1 July 2021 and 31 March 2022 6.080 AMORTISATION At 1 July 2021 and 31 March 2022 6.080 NET BOOK VALUE Al 31 March 2022 AI 30 June 2021 13. TANGIBLE FIXED ASSETS Comwler equipment Musral equipment equipment Totsls COST At 1 July 2021 and 31 March 2022 12.578 58.010 154,394 DEPRECIATION At 1 July 2021 Charge for year 62.37S 8.212 12,397 181 58,010 132,782 8.393 At 31 March 2022 70.587 12.578 141.175 NET BOOK VALUE At 31 March 2022 13 13,219 At 30 June 2021 21.431 181 21.612 All assets are vsed in direct furthérance of the ChariV$ objects. 14. DEBTORS: AMOUNTS FALUNG DUE wrrHIN ONE YEAR 31.3.22 30.6.21 Trade debtors Other debtors VAT Prepayments arKI accrued income 21,899 8,891 9.598 73.880 9.724 105.380 58,203 See note 15 for detsils of accrued income. Page 24 BIRMINGHAH CONTEMPORARY MUSIC GROUP Not￿ to the Financial SLitoments- continued for the Period 1 July 2021 to 31 MarGh 2022 1S. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 31.3.22 30.6.21 Trade credrtors Social security and other tsxe5 Accwals and deferred irwme 88.510 31.282 4,057 146,288 89,950 178.460 181.627 Deferred income comprises grants and awards received for core funding pUrrA￿eS and for future performance & leaming projects. Income defwred in the current year is as follows. Deferred Brought forward Carried forward {10.231 } 44.636 142,397 132,0051 34,405 10,392 44.797 Re¢eived in the year 513.123 I1￿mIng resources recognised for the year 557.920 16. MOVEMENT IN FUNDS Nel movement in funds Al 31.3.22 At 1.7.21 Unrestricted funds General fund 114.274 13.106 127,380 Restricted funds Donor Specified 23,348 23,348 TOTAL FUNOS 114274 36.454 150,728 Net movement in funds. induded in the above are a5 follows: Irthming resources Resources Movement expended in funds Unre8trlcted funds General fund 405,505 {392,399) 13.106 Restrlcted funds t>or¥)r specrf 152,415 (129.067} 23.348 TOTAL FUNDS 557 920 521,466) 36.454 Page 25 BIRMINGHAM CONTEMPORARY MUSIC GROUP Notes to the Financial Statemgnts - ￿ntInued for the PericKI 1 July 2021 10 31 March 2022 16. MOVEMENT IN FUNDS - continued Comparatives for movemenl in funds Net movement in funds At 1.7.20 30.6.21 Unrestricted funds General fund 68.333 45.941 114.274 RestrlGted funds DorK)r speufied 14,322 {14.322) TOTAL FUNDS 82,655 31.619 114.274 Comparative net movement in funds. included in the above are as follows.. Incoming resources Resources expended Movement in funds Unrestrlcted funds General fund 454,145 (408,204} 45.941 Restricted funds DOr￿T specified 91.770 {106,092} (14.322) TOTAL FUNDS 545,915 514,296) 31.619 17. RELATED PARTY DISCLOSURES There were no related party tranSac￿n$ for the perThl ended 31 March 2022. 18. ULTIMATE CONTROLLING PARTY The ultimate wntrolling party is considered to be the Bo¥d of Directors. 19. RECONCILIATION OF NET INCOME TO NEf CASH FLOW FROM OPERATING ACTIVITIES Perlod 1.7.21 to 31.3.22 Year Ended 30.6.21 Net income for the reporting perl¢)d (as per the Statement of Finanryal Activities) Adjustments for: Depreei8tion charges Interest received {IncreaseytJecrease in debtors Decrease in creditor$ 454 31.619 8,393 112) 147,177) 3,167 7.561 (15} 26,423 N¢t cash (us¢d inyprovlded by 0￿ratIOnS 5,5091 65,294 Page 26 BIRMINGHAM COMTEMPORARY MUSIC GROUP Notes tts the Financial Statements- Gontinuod for the Period 1 July 2021 to 31 Marth 2022 20.. ANALYSIS OF CHANGES IN NET FUNDS Al 1.7.21 Cash flow At 31.3.22 Net cash Cash al bank anthin hand 216.086 210,589 216.086 5.497 210.589 Total 216,086 5.497 210.589 .21. MEMBERS. GUARANTEES The number and amounts of guarantees given by the mern￿rs al 31 March 2022 were as follows.. Total Numbgr Maximum£ 11 Guarantees not exceeding £1 each Page 27 .