**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:
- The performance and promotion of concerts at the CBSO Centre and other venues
- The commissioning of new work
- Engagements in the UK and abroad
- Broadcasting and recording
- A wide-ranging learning programme
- Fundraising to achieve the above
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:
- PRODUCE work to the highest quality standards;
- BRING TOGETHER composers and audiences from all over the world;
- PRESENT new music that is connected to the circumstances of today and to the music that came before it;
- SELECT performance methods and venues that complement the music, enhance the audience experience, and increase its accessibility;
- SUPPORT the next generation of musicians and composers through education, mentoring, and other practical experiences;
- ENGAGE with young people and families; and
- MAINTAIN a strong, financially secure organisation that has the staffing, resources, and management policies/practices needed to achieve its mission and aims.
- ENGAGE with young people and families; and
- MAINTAIN a strong, financially secure organisation that has the staffing, resources, and management policies/practices needed to achieve its mission and aims.
## **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**
- First performances of works commissioned by others:
- Michael Zev Gordon (Birmingham, UK): _Raising Icarus_ an opera in partnership with The Barber Institute
- **World Premieres of BCMG commissions:**
- Frédéric Pattar (Paris, France): _Philosophy should stop at midnight_ for ensemble
- Nicolas Tzortzis (Berlin, Germany): _Croquis strideurs_ for ensemble
- Ondřej Adámek (Berlin, Germany): _Whence Comes The Voice?_ for voice and ensemble
- Rohan de Saram (London, UK): _Music for Kandyan Drum_ for string sextet and percussion
- Howard Skempton (Leamington Spa, UK): _Hinterland_ for ensemble
- Melinda Maxwell (Birmingham, UK): _Janus_ for ensemble
- Julian Anderson (London, UK): _Nunca vi Granada_ for soprano and ensemble
- George Lewis (USA): _Breaking_ (co-commissioned with Das Neue Ensemble, Hannover)
- Howard Skempton (Leamington Spa, UK): _Heinen Skizzen_ for Ulrich Heinen, Cellist
- Carmel Smickersgill (Manchester, UK): _Brute_ for ensemble (in partnership with Ensemble 10/10, Liverpool)* Flourish! Commonwealth Games Commissions:
- Soweto Kinch (Birmingham, UK): _Fanfare_ for jazz ensemble performed by The Notebenders
- Florence Anna Maunders (Birmingham, UK): _Fanfare_ for orchestra performed by Birmingham Gay Symphony Orchestra
- Millicent James (Birmingham, UK): _Fanfare_ for ensemble performed by Moseley Misfits
- Supriya Nagarajan (Birmingham, UK): _Fanfare_ for sitar & tabla ensemble performed by Birmingham Raga and Tala ensemble
- Bobbie-Jane Gardner (Birmingham, UK): _Fanfare_ for brass band performed by Birmingham Schools’ Brass Band
- Pablo Barrios (London, UK): _Fanfare_ for steel band performed by Birmingham Schools’ Steel Band
- Katie Stevens (Birmingham, UK): _Fanfare_ for ensemble performed by Live in the Lodge
- **World Premieres of non-BCMG Commissions:**
- Iannis Xenakis (Birmingham, UK): _Nomos Alpha_ for solo cello, world premiere of visual performance given in collaboration with Royal Northern College of Music’s PRiSM commissioned by Simon Russel and Marcus de Sautoy
- Edmund Hunt (Birmingham, UK): _The Waking of Angantyr_ for ensemble and live electronics Edmund Hunt (Birmingham, UK): _Bright Land of Wave’s Flame_ for countertenor, double bass and live electronics
## **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:
- 8 day-long Music Maze composing workshops for young people aged 8-11 at CBSO Centre
- 1 Music Maze workshop in partnership with Awards for Young Musicians (AYM) and Servern Arts
- BCMG Young Composers – 3 series of 4 composing workshops (1 series per term) for young people aged 12-14
- Creative Composing Lab – 3 day-long composing workshops (spring, summer, autumn) for young people aged 14-18
## Schools programme:
- Listen Imagine Compose Primary – 2-year action research project with 5 primary schools in Birmingham and 3 in Bristol involving professional composers working with children in Year 5 to compose their own music supported by the Paul Hamlyn Foundation in partnership with Birmingham City University and Sound and Music. In this period there were 98 workshops in schools as well as professional development for composers and teachers.
- 3 days of Music Maze in Bloom workshops in 3 Birmimngham primary schools in partnership with the National Trust
## Other:
- 10 new commissions for leisure time ensembles as part of Birmingham 2022 Cultural Festival. In addition to the commissions there were composer visits and world premiere concerts.
- 2 composing masterclasses for students at the University of Birmingham (harp & percussion)
- 2 days of workshops playing through student compositions for the University of Birmingham
- 1 day of playthroughs of student compositions for the University of Cambridge
- Learning Resources Website: BCMG's learning resources website is directed at teachers, workshop leaders and young composers. New content continues to be added in parallel with learning projects.
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"):
- Several of the Company's players have contracts of employment with the CBSO;
- The Company rents office space from the CBSO and the two companies share many of the same facilities provided by the 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:
- A periodic review of the risks which the Charity faces;
- The establishment of systems and procedures to mitigate identified risks;
- The implementation of procedures to minimise the impact of any risks which materialise.
## **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
- select suitable accounting policies and then apply them consistently;
- observe the methods and principles in the Charity SORP;
- make judgements and estimates that are reasonable and prudent;
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business.
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:
- there is no relevant audit information of which the charitable company's auditors are unaware; and
- the trustees have taken all steps that they ought to have taken to make themselves aware of any relevant audit information and to establish that the auditors are aware of that information.
## **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'.
- In our opinion the financial statements:
- give a true and fair view of the state of the charitable company's affairs as at 31 March 2023 and of its incoming resources and application of resources, including its income and expenditure, for the year then ended;
- have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'; and
- have been prepared in accordance with the requirements of the Companies Act 2006.
## **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:
- the information given in the Report of the Trustees is inconsistent in any material respect with the financial statements; or
- the charitable company has not kept adequate accounting records; or
- the financial statements are not in agreement with the accounting records and returns; or
- we have not received all the information and explanations we require for our audit.
## **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
- (a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
- (b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.
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