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2023-03-31-accounts

REGISTERED COMPANY NUMBER: 02446126 (England and Wales) REGISTERED CHARITY NUMBER: 1001474

Report of the Trustees and

Financial Statements

for the Year Ended 31 March 2023

for

Birmingham Contemporary Music Group

Locke Williams Associates LLP Chartered Accountants Registered Auditors c/o Blackthorn House St Pauls Square Birmingham West Midlands B3 1RL

Birmingham Contemporary Music Group

Contents of the Financial Statements for the Year Ended 31 March 2023

Page
Report of the Trustees 1 to 7
Report of the Independent Auditors 8 to 10
Statement of Financial Actvites 11
Balance Sheet 12 to 13
Cash Flow Statement 14
Notes to the Financial Statements 15 to 24

Birmingham Contemporary Music Group (Registered number: 02446126)

Report of the Trustees for the Year Ended 31 March 2023

The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 March 2023. The trustees have adopted the provisions of 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 2019).

OBJECTIVES AND ACTIVITIES

Objectives and activities

The Charity was established to advance the information and education of the public by promoting and developing the artistic taste, knowledge, understanding and appreciation of contemporary music and music theatre. Its activities continue to achieve this objective, and this has remained unchanged throughout the year under review.

The strategy employed to achieve the Charity's objectives is to undertake the major activities listed below:

Our Mission is to bring composers, musicians and audiences together, in all their diversity, regionally, nationally and internationally to celebrate the music of today and nurture the music and musicians of tomorrow. We do this from our Birmingham base through an integrated programme of performances, commissions, and learning activity, and by encouraging research, dialogue and the exchange of ideas.

Our core aim to commission and perform new work is shaped by our responsibilities to:

Public benefit

In setting our objectives and planning our activities our Trustees have given careful consideration to the Charity Commission's general guidance on public benefit.

Page 1

Birmingham Contemporary Music Group (Registered number: 02446126)

Report of the Trustees for the Year Ended 31 March 2023

ACHIEVEMENT AND PERFORMANCE

BCMG Commissions and Premieres

Productions and Performances:

In order to support the return back to post-pandemic normality, BCMG cooperated with the Barber Institute, performing Michael Zev Gordon’s Raising Icarus, a new chamber opera by Michael Zev Gordon about parental expectation and aspiration bringing the risk of harm to children.

Connecting the creative cities of Birmingham and Bristol, a programme celebrating work by former BCMG Artist in Residence, Oliver Knussen and a tribute to Harrison Birtwhistle who sadly passed away in April; Eccentric Melodies explored the melodies of these iconic composers.

Celebrating Iannis Xenakis’ centenary on the day sees BCMG partnering with Sound and Music, University of Birmingham and Royal Northern College of Music’s PRiSM to create a festival for all the senses with world premieres alongside classics from the architect-composer, and an exciting co-commission of visuals by animator Simon Russell and mathematician Marcus du Sautoy. Also bringing the Synesthesia graphic score software to the concert hall, created by Lamberto Coccioli & Joe Wright of Integra Lab, Royal Birmingham Conservatoire.

Page 2

Birmingham Contemporary Music Group (Registered number: 02446126)

Report of the Trustees for the Year Ended 31 March 2023

The 13[th] performance of Stockhausen’s Sternklang as part of the Acht Brűcken Festival brought us to the beautiful Schlosspark Brűhl; picking up from where we had left the piece before the pandemic, this international collaboration brought the comment “the crowning of the festival”.

We also had a Music in Dialogue concert with Neel Kamrul from Bangladesh, Ondrej Adamek and Rohan de Saram fusing music from diverse cultures.

Later in the year, a celebration of Elliott Carter and George Lewis, a recording of music by Richard Baker and a new commission from our own oboist, Melinda Maxwell brought fresh and innovative music to our public.

We are proud to note that every single one of our major concerts has been recorded and broadcast by the BBC.

Our NEXT academists have been an integral part of these events, celebrating and working with composers Michael Zev Gordon, Iannis Xenakis, Elliott Carter and, notably, George Lewis.

In addition to these performances, BCMG's Learning & Participation department continues its highly acclaimed programming, offering creative music making workshops to young people in school and out of school, along with continuing professional development for educators, and composers and musicians wanting to work with young people.

BCMG's admired outreach programme, Learn & Take Part, worked with children, young people, students, families and the community in our home, the CBSO Centre and in schools, nurseries, community venues and universities during the period of this report. This included:

Out-of-School programme - weekend composing workshops:

Schools programme:

Other:

Page 3

Birmingham Contemporary Music Group (Registered number: 02446126)

Report of the Trustees for the Year Ended 31 March 2023

FINANCIAL REVIEW

Principal funding sources

The Company's principal funding sources were revenue grant income from Arts Council England of £325,535 (2022: £269,894) and from City of Birmingham Symphony Orchestra of £12,084 (2022: £12,084); sponsorship and donations of £300,289 (2022: £189,711); and earned income arising from charitable activities of £79,540 (2022: £58,832).

Results

Notwithstanding the continuing backdrop of cuts in the public funding of arts organisations and continued financial pressure on grant-making bodies and individuals, the Company pursued an ambitious programme of work that sought to demonstrate its commitment to innovation and excellence in artistic performance. The Company's net deficit for the year after transfers was £68,370.

Reserves policy

The Charity is run in accordance with a medium to long-term financial framework of a balanced budget. Therefore, whilst within any one financial year a surplus or deficit may be recorded, it is the Trustees' intention that the Company will always be in a financial position to settle its liabilities as they fall due. For this reason, whilst the Company's core grant and revenue funding is relatively stable, the Company operates a reserves policy that seeks to protect against unexpected costs or shortfalls in project funding with respect to its artistic programme.

Consistent with the last two years, the Trustees have taken the view that reserves should equate to three months' support costs in the medium term. The general (unrestricted) reserves carried forward at 31 March 2023 of £82,358 (2022: £127,380), meet this target. Free reserves, excluding fixed assets, were £74,205 (2022: £114,161). The Directors will continue to monitor the adequacy of reserves in the light of the Company's funding status and will replenish them as required over the medium term.

Reserves are set out in Note 16 to the Financial Statements.

Going concern

The financial statements have been prepared on a going concern basis as the trustees believe that no material uncertainties exist. The trustees have considered the level of funds held and the expected level of income and expenditure for 12 months from the date of authorising these financial statements. The budgeted income and expenditure is sufficient with the level of reserves for the charity to be able to continue as a going concern.

Future developments

Funding for the arts continues to be a challenge, not least for an organisation such as BCMG which is seeking to bring new work to a wider public. The Directors recognise the challenges that BCMG faces and have instigated several work streams to help address these issues. The future programme is ambitious, and quality will never be compromised despite the financial pressures. At the same time, we will rigorously monitor the financial progress of all projects against carefully designed budgets and ensure that the Company always has sufficient resources to fulfil its ambitions.

FUTURE PLANS

We are looking forward another Cherry Blossom open air concert in co-operation with IKON and Brindley Place, extended to the concert hall a few weeks later under the baton of Kazuki Yamada, in his very first week at the helm of the CBSO family. "Blossoming" has a Japanese composer focus as well as reflecting the environmental theme of the overall programme.

The long-postponed world premiere of Christian Mason's The Singing Tree on a libretto (in the shape of a tree) by Paul Griffiths at Town Hall, Birmingham brings our environmental focus of this season to its summit.

We will continue our Music in Dialogue programming strand with guests from Japan (Noh re-imagined as new music with Mu:arts) and China (Ensemble conTempo Beijing's long awaited reciprocal visit with the results of our International Composing Competition).

Page 4

Birmingham Contemporary Music Group (Registered number: 02446126)

Report of the Trustees

for the Year Ended 31 March 2023

FUTURE PLANS - continued

Songs at Day, Songs at Night will feature the 2022 Voices of Black Opera "Samuel Coleridge-Taylor Award" winner Thando Mjandana premiering a Daniel Kidane - SI commission during Black History Month.

And "re_creation" will push the boundaries of what can be considered a concert, bringing together visual artist Haroon Mirza, composer Lucy Armstrong and exceptional singer Juliet Fraser in early 2024.

March sees us going back to Coventry Cathedral, and another Cherry Blossom open air concert, focussing on Air, Space and Growth, given the huge success of the first delivery.

NEXT will go into its fifth season, with ongoing support and collaboration of Royal Birmingham Conservatoire.

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document

Birmingham Contemporary Music Group is a Company and is therefore governed by its Memorandum and Articles of Association. The Company is limited by guarantee. The Directors of the Company are also members and as such they guarantee to contribute to 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 therefore subject to the Charity Commission's rules. As a Charity, the Company, in the opinion of its Directors, complies with the requirements of Section 60 of the Companies Names Act 2006 which exempts the Charity from the requirement to include "Limited" as part of its name.

Recruitment and appointment of new trustees

The identification of suitable Trustees considers the skills required by the Board at the time. Trustees are limited to serving two terms of three years each.

Organisational structure

The Board of Trustees, of which the minimum number is two, governs the Charity. The board meets on a formal basis at least four times a year. In addition, and where necessary, separate sub-committees are formed as required to examine specific aspects of the Charity's work. The Board's responsibilities include the review and approval of the quarterly and annual accounts, approval of artistic plans and adoption of Company policies.

The Board appoints an Artistic Director who is also Chief Executive Officer, to manage the day-to-day operations of the Charity.

Induction and training of new trustees

Each Trustee receives an induction pack and has an introductory meeting with staff. Each Trustee has the right to receive training, at the Company's expense, in order that they may understand their legal obligations and fulfil their roles. In addition, the Trustees are encouraged to meet the Company's employees and players on a regular basis in order to understand the organisation better and thus facilitate the undertaking of their duties.

Key management remuneration

The Board of Directors (Trustees) and the Chief Executive comprise the key management personnel of the charity in charge of directing and controlling, running, and operating the charity on a day-to-day basis. All Directors give of their time freely and no director received remuneration during the year. The pay of staff is reviewed annually.

Relationship with the CBSO

Whilst a separate organisation, the Company has a close working relationship with the City of Birmingham Symphony Orchestra ("CBSO"):

Page 5

Birmingham Contemporary Music Group (Registered number: 02446126)

Report of the Trustees for the Year Ended 31 March 2023

Risk management

The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error.

The trustees have a risk management strategy which comprises:

REFERENCE AND ADMINISTRATIVE DETAILS

Registered Company number

02446126 (England and Wales)

Registered Charity number 1001474

Registered office

CBSO Centre Berkley Street Birmingham West Midlands B1 2LF

Trustees

K W Baird W Barry (appointed 25.11.22) J Chamberlain J C Cochrane (appointed 25.11.22) L Coffey R J Hopkins (appointed 13.12.22) A D Jackson N Jonah A Rahman G J Spruce B R Winton

Auditors

Locke Williams Associates LLP Chartered Accountants Registered Auditors c/o Blackthorn House St Pauls Square Birmingham West Midlands B3 1RL

Page 6

Birmingham Contemporary Music Group (Registered number: 02446126)

Report of the Trustees for the Year Ended 31 March 2023

STATEMENT OF TRUSTEES' RESPONSIBILITIES

The trustees (who are also the directors of Birmingham Contemporary Music Group for the purposes of company law) are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice) including Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland".

Company law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing those financial statements, the trustees are required to

The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

In so far as the trustees are aware:

AUDITORS

The auditors, Locke Williams Associates LLP, will be proposed for re-appointment at the forthcoming Annual General Meeting.

This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

23/10/2023

Approved by order of the board of trustees on ............................................. and signed on its behalf by:

................................................................. A D Jackson - Trustee

Page 7

Report of the Independent Auditors to the Trustees of Birmingham Contemporary Music Group (Registered number: 02446126)

Opinion

We have audited the financial statements of Birmingham Contemporary Music Group (the 'charitable company') for the year ended 31 March 2023 which comprise the Statement of Financial Activities, the Balance Sheet, the Cash Flow Statement and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charitable company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.

Other information

The trustees are responsible for the other information. The other information comprises the information included in the Annual Report, other than the financial statements and our Report of the Independent Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Page 8

Report of the Independent Auditors to the Trustees of Birmingham Contemporary Music Group (Registered number: 02446126)

Matters on which we are required to report by exception

We have nothing to report in respect of the following matters where the Charities (Accounts and Reports) Regulations 2008 requires us to report to you if, in our opinion:

Responsibilities of trustees

As explained more fully in the Statement of Trustees' Responsibilities, the trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the trustees are responsible for assessing the charitable company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.

Our responsibilities for the audit of the financial statements

We have been appointed as auditors under Section 144 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder.

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Independent Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

We gained an understanding of the legal and regulatory framework applicable to the company and the industry in which it operates, and considered the risk of acts by the company that were contrary to applicable laws and regulations, including fraud. We designed audit procedures to respond to these risks, recognising that the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery or intentional misrepresentations, or through collusion.

We focussed on laws and regulations which could give rise to a material misstatement in the financial statements, including, but not limited to, the Companies Act 2006 and UK tax legislation. Our tests included agreeing the financial statement disclosures to underlying supporting documentation, enquiries with management and enquiries of third parties where appropriate.

As in all our audits, we also addressed the risk of management override of internal controls, including testing journals and checking the authorisation of expenditure as part of our substantive testing, using analytical review to identify any significant or unusual transactions and evaluating whether there was evidence of bias by the trustees that represented a risk of material misstatement due to fraud.

There are inherent limitations in the audit procedures described above and, the further removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely we would become aware of it. We did not identify any key audit matters relating to irregularities, including fraud.

Page 9

Report of the Independent Auditors to the Trustees of Birmingham Contemporary Music Group (Registered number: 02446126)

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Independent Auditors.

Use of our report

This report is made solely to the charitable company's trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charitable company's trustees those matters we are required to state to them in an auditors' report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company's trustees as a body, for our audit work, for this report, or for the opinions we have formed.

Locke Williams Associates LLP Chartered Accountants Registered Auditors Eligible to act as an auditor in terms of Section 1212 of the Companies Act 2006 c/o Blackthorn House St Pauls Square Birmingham West Midlands B3 1RL

23 October 2023

Date: .............................................

Page 10

Birmingham Contemporary Music Group

Statement of Financial Activities (Incorporating an Income and Expenditure Account) for the Year Ended 31 March 2023

Unrestricted
funds
Notes
£
INCOME AND ENDOWMENTS FROM
Grants and donatons
2
436,439
Charitable actvites
5
BCMG Own promotons
39,905
Co-Promotons
-
Engagements
24,371
Learn & Take Part
-
Sector development
9,136
Other trading actvites
3
3,155
Investment income
4
331
Other income
61,185
Total
574,522
EXPENDITURE ON
Raising funds
32,377
Charitable actvites
6
BCMG Own promotons
252,489
Co-Promotons
548
Engagements
31,007
Learn & Take Part
182,744
Recordings and media
4,295
Sector development
72,532
Commissioning
43,552
Total
619,544
NET INCOME/(EXPENDITURE)
(45,022)
RECONCILIATION OF FUNDS
Total funds brought forward
127,380
TOTAL FUNDS CARRIED FORWARD
82,358		 Year Ended
31.3.23
Restricted
Total
funds
funds
£
£
201,469
637,908
-
39,905
-
-
-
24,371
6,128
6,128
-
9,136
-
3,155
-
331
-
61,185
207,597
782,119
-
32,377
-
252,489
-
548
-
31,007
230,945
413,689
-
4,295
-
72,532
-
43,552
230,945
850,489
(23,348)
(68,370)
23,348
150,728
-
82,358		 Period
1.7.21
to
31.3.22
Total
funds
£
471,689
22,533
10,000
10,764
5,378
10,157
2,885
12
24,502
557,920
39,874
147,741
55,158
42,672
177,367
-
56,054
2,600
521,466
36,454
114,274
150,728

The notes form part of these financial statements

Page 11

Birmingham Contemporary Music Group (Registered number: 02446126)

Balance Sheet

31 March 2023

Unrestricted
funds
Notes
£
FIXED ASSETS
Tangible assets
13
8,153
CURRENT ASSETS
Debtors
14
169,827
Cash at bank and in hand
11,930
181,757
CREDITORS
Amounts falling due within one year
15
(107,552)
NET CURRENT ASSETS
74,205
TOTAL ASSETS LESS CURRENT LIABILITIES
82,358
NET ASSETS
82,358
FUNDS
16
Unrestricted funds:
General fund
Restricted funds:
Donor specifed
TOTAL FUNDS		 Restricted
funds
£
-
-
-
-
-
-
-
-		 31.3.23
Total
funds
£
8,153
169,827
11,930
181,757
(107,552)
74,205
82,358
82,358
82,358
-
82,358		 31.3.22
Total
funds
£
13,219
105,380
210,589
315,969
(178,460)
137,509
150,728
150,728
127,380
23,348
150,728

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not deposited notice, pursuant to Section 476 of the Companies Act 2006 requiring an audit of these financial statements.

The trustees acknowledge their responsibilities for

These financial statements have been audited under the requirements of Section 145 of the Charities Act 2011.

The notes form part of these financial statements

Page 12

Birmingham Contemporary Music Group (Registered number: 02446126)

Balance Sheet - continued 31 March 2023

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

The financial statements were approved by the Board of Trustees and authorised for issue on 23/10/2023 ............................................. and were signed on its behalf by:

.............................................

A D Jackson - Trustee

The notes form part of these financial statements

Page 13

Birmingham Contemporary Music Group

Cash Flow Statement for the Year Ended 31 March 2023

Year Ended
31.3.23
Notes
£
Cash fows from operatng actvites
Cash generated from operatons
19
(196,694)
Net cash used in operatng actvites
(196,694)
Cash fows from investng actvites
Purchase of tangible fxed assets
(2,296)
Interest received
331
Net cash (used in)/provided by investng actvites
(1,965)
Change in cash and cash equivalents in the
reportng period
(198,659)
Cash and cash equivalents at the beginning
of the reportng period
210,589
Cash and cash equivalents at the end of
the reportng period
11,930		 Period
1.7.21
to
31.3.22
£
(5,509)
(5,509)
-
12
12
(5,497)
216,086
210,589

The notes form part of these financial statements

Page 14

Birmingham Contemporary Music Group

Notes to the Financial Statements for the Year Ended 31 March 2023

1. ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements of the charitable company, which is a public benefit entity under FRS 102, 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 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Income

All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.

For grants and donations to be recognised, the charity will have been notified of the amounts and the settlement date in writing. If there are conditions attached to the donation and this requires a level of performance before entitlement can be obtained then income is deferred until those conditions are fully met or the fulfilment of those conditions is within the control of the charity and it is probable that they will be fulfilled

Income from charitable activities includes ticket and fee income earned from undertaking performances, engagements and recordings. Income is received in exchange for supplying goods and services in furtherance of the charitable objectives and is recognised when entitlement has occurred.

Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the Bank.

Expenditure

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, 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 accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category.

Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.

Costs are shown net of any recoverable VAT.

Allocation and apportionment of costs

Charitable activity costs include those direct costs incurred in the furtherance of the charitable actives and are analysed between the significant activities undertaken.

Support (core) costs are those that assist the work of the charity but do not directly represent charitable activities and include office costs, governance costs, administrative payroll costs. They are incurred directly in support of expenditure on the objects of the charity.

Where support costs cannot be directly attributed to particular headings they have been allocated to cost of raising funds and expenditure on charitable activities on a basis consistent with use of the resources. Payroll costs been allocated to activities on the basis of employees involvement in each activity and other overheads, including general marketing and governance costs, have been allocated in proportion to incoming resources by activity.

Fund-raising costs are those incurred in seeking voluntary contributions and do not include the costs of disseminating information in support of the charitable activities.

Intangible fixed assets

Amortisation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Page 15

Birmingham Contemporary Music Group

Notes to the Financial Statements - continued for the Year Ended 31 March 2023

1. ACCOUNTING POLICIES - continued

Intangible fixed assets

Other intangible assets (Software) - 33% on cost

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Computer equipment - 33% on cost and 20% on cost Office equipment - 33% on cost Musical equipment - 33% on cost

Taxation

The charity is an exempt charity within the meaning of schedule 3 of the Charities Act 2011 and is considered to pass the tests set out in Paragraph 1 Schedule 6 Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes.

Fund accounting

Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.

Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.

Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.

Pension costs and other post-retirement benefits

The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to the statement of financial activities on a straight line basis over the period of the lease.

2. GRANTS AND DONATIONS

Year Ended
31.3.23
£
Sponsorship and donatons
300,289
Grants
337,619
637,908
Sound Investment
19,124
Charitable Trusts and foundatons
249,217
General Donatons and Gif Aid
31,948
300,289		 Period
1.7.21
to
31.3.22
£
189,711
281,978
471,689
9,889
165,222
14,600
189,711

Page 16

Birmingham Contemporary Music Group

Notes to the Financial Statements - continued for the Year Ended 31 March 2023

2. GRANTS AND DONATIONS - continued

Grants received, included in the above, are as follows:

Year Ended
31.3.23
£
Arts Council England, West Midlands
325,535
Arts Council England, Cultural Recovery Fund
-
CBSO
12,084
337,619
3.
OTHER TRADING ACTIVITIES
Year Ended
31.3.23
£
Sales of CDs, music scores etc
1,655
Other fees
1,500
3,155
4.
INVESTMENT INCOME
Year Ended
31.3.23
£
Deposit account interest
331
5.
INCOME FROM CHARITABLE ACTIVITIES
Year Ended
31.3.23
Actvity
£
BCMG Own promotons
39,905
Co-Promotons
-
Engagements
24,371
Learn & Take Part
6,128
Sector development
9,136
79,540		 Period
1.7.21
to
31.3.22
£
245,622
24,272
12,084
281,978
Period
1.7.21
to
31.3.22
£
2,885
-
2,885
Period
1.7.21
to
31.3.22
£
12
Period
1.7.21
to
31.3.22
£
22,533
10,000
10,764
5,378
10,157
58,832

Page 17

Birmingham Contemporary Music Group

Notes to the Financial Statements - continued for the Year Ended 31 March 2023

6. CHARITABLE ACTIVITIES COSTS

CHARITABLE ACTIVITIES COSTS
BCMG Own promotons
Co-Promotons
Engagements
Learn & Take Part
Recordings and media
Sector development
Commissioning		 Direct
Costs
£
252,151
548
30,807
411,948
4,295
72,132
43,231
815,112		 Support
costs (see
note 7)
£
338
-
200
1,741
-
400
321
3,000		 Totals
£
252,489
548
31,007
413,689
4,295
72,532
43,552
818,112
Costs of Performance:
Musicians' and artists fees
Concert expenses
Commissioning
Marketing
Staff costs
Rent, rates and insurance
General marketing
Telephone, postage and stationery
Other
Depreciation
Governance costs
Staff costs
Audit and accountancy
Support and Administration of the		 BCMG Own
Promotions
Co-
Promotions
Engagements
and
recordings
Learn &
Take Part
Sector
Development Commissioning Recording
2023
Total
2022
Total
£
£
£
£
£
£
£
£
96,922
350
14,160
16,949
2,547
151
2,145
133,224
51,652
90,050
198
3,648
-
176,345
751
8,720
-
1,577
256,553
179,176
26,992
-
200
4,551
400
19,316
-
51,459
2,600
-
-
-
-
-
-
-
-
4,110
213,964
548
10,712
197,845
3,698
10,747
3,722
441,236
237,538
Charity (note 7)
23,770
-
11,670
139,582
51,098
18,787
-
244,907
171,325
2,576
-
1,521
13,256
3,042
2,448
-
22,843
16,513
2,372
-
1,400
13,260
2,801
2,254
573
22,660
7,968
2,417
-
1,426
12,436
2,863
2,296
-
21,438
12,156
4,816
-
2,758
24,060
5,989
4,573
-
42,196
14,813
830
-
490
4,272
980
789
-
7,361
8,394
36,781
-
19,265
206,866
66,774
31,147
573
361,406
231,169
1,406
-
830
7,237
1,661
1,336
-
12,470
9,885
338
-
200
1,741
400
321
-
3,000
3,000
1,744
-
1,030
8,978
2,060
1,658
-
15,470
12,885
252,489
548
31,007
413,689
72,532
43,552
4,295
818,112
481,592

Page 18

Birmingham Contemporary Music Group

Notes to the Financial Statements - continued

for the Year Ended 31 March 2023

7. SUPPORT COSTS

Support (core) costs are those that assist the work of the charity but do not directly represent charitable activities and include office costs, governance costs, administrative payroll costs. They are incurred directly in support of expenditure on the objects of the charity.

Where support costs cannot be directly attributed to particular headings they have been allocated to cost of raising funds and expenditure on charitable activities on a basis consistent with use of the resources. Payroll costs been allocated to activities on the basis of employees involvement in each activity and other overheads, including general marketing and governance costs, have been allocated in proportion to incoming resources by activity.

8. NET INCOME/(EXPENDITURE)

Net income/(expenditure) is stated after charging/(crediting):

Period
1.7.21
Year Ended to
31.3.23 31.3.22
£ £
Auditors' remuneraton 3,000 3,000
Depreciaton - owned assets 7,362 8,393

9. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31 March 2023 nor for the period ended 31 March 2022.

Trustees' expenses

No trustees received reimbursement of out of pocket expenses for the period ended 30 June 2021 (2020 two received £275).

10. STAFF COSTS

Year Ended
31.3.23
£
Wages and salaries
248,084
Social security costs
16,861
Other pension costs
19,094
284,039		 Period
1.7.21
to
31.3.22
£
204,444
13,189
3,451
221,084

The average monthly number of employees during the year was as follows:

Year Ended
31.3.23
Management and administraton
2
Project staf
11
13		 Period
1.7.21
to
31.3.22
2
9
11

Page 19

Birmingham Contemporary Music Group

Notes to the Financial Statements - continued for the Year Ended 31 March 2023

10. STAFF COSTS - continued

No employees received emoluments in excess of £60,000.

The total amount of employee benefits received by key management personnel is £45,103 (2022 £32,857). The Trust considers its key management personnel comprise the board of directors, who are the Trust's trustees and are unpaid, and the senior management team.

11. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES

Unrestricted
funds
£
INCOME AND ENDOWMENTS FROM
Grants and donatons
324,652
Charitable actvites
BCMG Own promotons
22,533
Co-Promotons
10,000
Engagements
10,764
Learn & Take Part
-
Sector development
10,157
Other trading actvites
2,885
Investment income
12
Other income
24,502
Total
405,505
EXPENDITURE ON
Raising funds
39,874
Charitable actvites
BCMG Own promotons
147,741
Co-Promotons
55,158
Engagements
42,672
Learn & Take Part
48,300
Sector development
56,054
Core
-
Marketng
-
Salaries - to be recoded!
-
Commissioning
2,600
Total
392,399
NET INCOME
13,106
RECONCILIATION OF FUNDS
Total funds brought forward
114,274
TOTAL FUNDS CARRIED FORWARD
127,380		 Restricted
funds
£
147,037
-
-
-
5,378
-
-
-
-
152,415
-
-
-
-
129,067
-
-
-
-
-
129,067
23,348
-
23,348		 Total
funds
£
471,689
22,533
10,000
10,764
5,378
10,157
2,885
12
24,502
557,920
39,874
147,741
55,158
42,672
177,367
56,054
-
-
-
2,600
521,466
36,454
114,274
150,728

The prior period, as presented as the comparatives throughout these financial statements, was for the nine months to 31 March 2022. As such, they may not be directly comparable to those of the current full year to 31 March 2023.

Page 20

Birmingham Contemporary Music Group

Notes to the Financial Statements - continued for the Year Ended 31 March 2023

12. INTANGIBLE FIXED ASSETS

Other
intangible
assets
£
COST
At 1 April 2022 and 31 March 2023 6,080
AMORTISATION
At 1 April 2022 and 31 March 2023 6,080
NET BOOK VALUE
At 31 March 2023 -
At 31 March 2022 -

13. TANGIBLE FIXED ASSETS

Computer
Ofce
Musical
equipment
equipment
equipment
£
£
£
COST
At 1 April 2022
83,806
12,578
58,010
Additons
1,512
784
-
At 31 March 2023
85,318
13,362
58,010
DEPRECIATION
At 1 April 2022
70,587
12,578
58,010
Charge for year
7,101
261
-
At 31 March 2023
77,688
12,839
58,010
NET BOOK VALUE
At 31 March 2023
7,630
523
-
At 31 March 2022
13,219
-
-		 Totals
£
154,394
2,296
156,690
141,175
7,362
148,537
8,153
13,219

All assets are used in direct furtherance of the Charity's objects.

14. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Trade debtors
Other debtors
VAT
Prepayments and accrued income		 31.3.23
£
16,350
-
-
153,477
169,827		 31.3.22
£
21,899
3
9,598
73,880
105,380

See note 15 for details of accrued income.

Page 21

Birmingham Contemporary Music Group

Notes to the Financial Statements - continued

for the Year Ended 31 March 2023

15. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Trade creditors
Social security and other taxes
Other creditors
Accruals and deferred income		 31.3.23
£
69,479
5,237
1,167
31,669
107,552		 31.3.22
£
88,510
-
-
89,950
178,460

Deferred income comprises grants and awards received for core funding purposes and for future performance & learning projects. Income deferred in the current year is as follows.

Brought forward
Carried forward
Received in the year
Incoming resources recognised for the year		 Accrued
(44,636)
114,664
70,028		 Deferred

87,005
(28,683)
58,322		 £

128,350
654,569
782,119
16.
MOVEMENT IN FUNDS
Unrestricted funds
General fund
Restricted funds
Donor specifed
TOTAL FUNDS
Net movement in funds, included in the above are as follows:
Unrestricted funds
General fund
Restricted funds
Donor specifed
TOTAL FUNDS		 At 1.4.22
£
127,380
23,348
150,728
Incoming
resources
£
574,522
207,597
782,119		 Net
movement
At
in funds
31.3.23
£
£
(45,022)
82,358
(23,348)
-
(68,370)
82,358
Resources
Movement
expended
in funds
£
£
(619,544)
(45,022)
(230,945)
(23,348)
(850,489)
(68,370)

Page 22

Birmingham Contemporary Music Group

Notes to the Financial Statements - continued for the Year Ended 31 March 2023

16. MOVEMENT IN FUNDS - continued

Comparatives for movement in funds

Unrestricted funds
General fund
Restricted funds
Donor specifed
TOTAL FUNDS
Comparatve net movement in funds, included in the above are as
Unrestricted funds
General fund
Restricted funds
Donor specifed
TOTAL FUNDS		 At 1.7.21
£
114,274
-
114,274
follows:
Incoming
resources
£
405,505
152,415
557,920		 Net
movement
At
in funds
31.3.22
£
£
13,106
127,380
23,348
23,348
36,454
150,728
Resources
Movement
expended
in funds
£
£
(392,399)
13,106
(129,067)
23,348
(521,466)
36,454

17. RELATED PARTY DISCLOSURES

There were no related party transactions for the year ended 31 March 2023.

18. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is considered to be the Board of Directors.

19. RECONCILIATION OF NET (EXPENDITURE)/INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES

Year Ended
31.3.23
£
Net (expenditure)/income for the reportng period (as per the
Statement of Financial Actvites)
(68,370)
Adjustments for:
Depreciaton charges
7,362
Interest received
(331)
Increase in debtors
(64,447)
Decrease in creditors
(70,908)
Net cash used in operatons
(196,694)		 Period
1.7.21
to
31.3.22
£
36,454
8,393
(12)
(47,177)
(3,167)
(5,509)

Net cash used in operations

Page 23

Birmingham Contemporary Music Group

Notes to the Financial Statements - continued for the Year Ended 31 March 2023

20. ANALYSIS OF CHANGES IN NET FUNDS

Net cash
Cash at bank and in hand
Total		 At 1.4.22
Cash fow
At 31.3.23
£
£
£
210,589
(198,659)
11,930
210,589
(198,659)
11,930
210,589
(198,659)
11,930		 At 1.4.22
Cash fow
At 31.3.23
£
£
£
210,589
(198,659)
11,930
210,589
(198,659)
11,930
210,589
(198,659)
11,930
11,930
11,930

21. MEMBERS' GUARANTEES

The number and amounts of guarantees given by the members at 31 March 2023 were as follows:

Guarantees not exceeding £1 each Number
12		 Total
Maximum£
12

Page 24