**REGISTERED COMPANY NUMBER: 02446126 (England and Wales) REGISTERED CHARITY NUMBER: 1001474**
## **Report of the Trustees and**
## **Unaudited Financial Statements**
## **for the Year Ended 31 March 2025**
## **for**
## **Birmingham Contemporary Music Group**
Locke Williams Associates LLP Chartered Accountants Studio 2 50-54 St Pauls Square Birmingham West Midlands B3 1QS
**Birmingham Contemporary Music Group**
## **Contents of the Financial Statements for the Year Ended 31 March 2025**
|||**Page**||
|---|---|---|---|
|**Report of the Trustees**|1|to|5|
|**Independent Examiner's Report**||6||
|**Statement of Financial Activities**||7||
|**Balance Sheet**|8|to|9|
|**Cash Flow Statement**||10||
|**Notes to the Financial Statements**|11|to|21|
**Birmingham Contemporary Music Group (Registered number: 02446126)**
## **Report of the Trustees for the Year Ended 31 March 2025**
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 2025. 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.
## **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 2025**
## **ACHIEVEMENT AND PERFORMANCE**
## **Achievements and performance**
Birmingham Contemporary Music Group was founded 1987 as an initiative of musicians from the City of Birmingham Symphony Orchestra. Its Founding Patron is Sir Simon Rattle. As the Group approaches its fortieth year of operation, it is satisfying to be able to report strong artistic and financial health.
Given the history of the development of the arts in the UK, it is not easy to establish an organisation lauded internationally outside London. Funding - both public and private - is still largely focused there; and there is an assumption that the best must surely be in the capital. BCMG has challenged that perception, although the Group still ensures it has a London presence, with two successful Wigmore Hall events in the year under review and further events in the capital planned for the future. Recent tours to South Korea and Japan have met with considerable acclaim. The Group has a strong track record of taking the name of Birmingham around the world. Its programming and commissioning reflect a mix of the best of early career and established composers based in Britain; and of talented creators from around the world - often previously little known in the UK. The quality of the Group's programming, and the excellence of delivery by its musicians, is reflected in the regularity of broadcasts by the BBC. BCMG's learning programme and associated research also attract international attention and acclaim. It is one of only two performing organisations to have a formal association with the Open University, with Stephan Meier contributing to the OU's latest initiative.
Birmingham has a strong track-record of partnerships across the arts. Birmingham City University has been central to the development of the Group's research into the development of materials for schools. The specific aim has been to develop support for the teaching of composition in schools - an activity which teachers can find challenging. In February, a national conference was led by BCMG at the CBSO Centre, sharing initial research findings with a wide range of key figures from across the arts. Later in the year, came news that the Paul Hamlyn Foundation, which had already supported the first phase of research, would also underpin the second. Their cumulative support totals a very substantial six-figure sum and we express our warmest thanks to the Foundation's Trustees and Officers.
BCMG's strong partnership with the Royal Birmingham Conservatoire is a source of creative strength and mutual benefit. Although any substantial funding for BCMG's post-graduate programme to support the training in contemporary practice of talented musicians remains elusive, the NEXT programme has been kept alive through the partnership with the Conservatoire. This type of programme is a national need to ensure that the performers of tomorrow are equipped to deliver convincingly what composers are writing today.
For some considerable time, BCMG has been looking for a new Chair. The search has been extensive and national. I am very pleased to report that the Board has now appointed Paula Whitehouse as BCMG's Chair. Paula holds a senior position at Aston University, and I feel sure she will be able to bring a new range of professional skills and strengths to BCMG. BCMG has a strong and committed Board with a wide range of skills and contacts, and I thank all my fellow Board Members for their dedication and hard work. I include Melinda Maxwell and Anthony Howe who represent the Group's musicians' views at Board level in an unfailingly civilised and constructive way as well as providing their own guidance to the Board.
Birmingham has attracted people from many parts of the world, who have brought with them widely varying musical traditions. BCMG has taken up this opportunity creating and presenting new cultural partnerships through its "Music in Dialogue" series. Recent examples have included an acclaimed concerto for the Japanese traditional instrument - the Sho - subsequently taken to Japan; and facilitating early career British composers to visit Japan to create works having immersed themselves in the Noh tradition. One event during the year which clearly captured the imagination of the Birmingham public was a partnership between BCMG and Basil Gabiddon and his Band exploring how reggae came to the city. The Town Hall was completely sold out. An equally enthusiastic public response was apparent for BCMG's now well established Spring concert in Brindley Place; many hundreds of Birmingham citizens listen to challenging contemporary and twentieth century repertoire under the falling cherry blossom. The event has established strong partnerships including with the Ikon Gallery and local businesses.
Page 2
## **Birmingham Contemporary Music Group (Registered number: 02446126)**
## **Report of the Trustees for the Year Ended 31 March 2025**
The Group continues to attract strong encouragement and support from Arts Council England. The Board is fully aware of the financial constraints imposed on the Council in recent years, and hopes in time that these will be eased. It would be hard for a contemporary music ensemble of distinction to survive without an underpinning of public funding. The Board appreciates the support the Arts Council has been able to provide and the positive interventions the Council's officers have made. BCMG has a strong track record of also attracting funds from other sources and it is pleasing to see the Group begin to re-establish its reserves during the year relating to this report. In particular we record our great gratitude to the individual supporters who continue to demonstrate noteworthy generosity.
The Group's Artistic Director and Chief Executive is able to bring wide knowledge of musical developments in Continental Europe, as well as in the UK. The Board greatly values Stephan Meier's inspired leadership. BCMG has a small, hardworking administrative team; over the years, it has recruited people who have subsequently moved on to take key jobs in other organisations. This is inevitable for an arts body of this size. There could be no better example of this promotion, than that of the Group's Executive Director. George Lee has now taken up his appointment as Head of Artistic Planning & Production at the BBC National Orchestra of Wales. We wish him every possible success, welcome his successor and record our heartfelt thanks to the BCMG administrative team for their effectiveness and dedication to the Group.
## **FINANCIAL REVIEW**
## **Principal funding sources**
The Company's principal funding sources were revenue grant income from Arts Council England of £325,535 (2024: £325,535) and from City of Birmingham Symphony Orchestra of £6,042 (2024: £12,084); sponsorship and donations of £132,854 (2024: £152,849); and earned income arising from charitable activities of £85,311 (2024: £66,954).
## **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 surplus for the year was £54,213.
## **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 2025 of £120,662 (2024: £66,449), meet this target. Free reserves, excluding fixed assets, were £120,134 (2024: £62,449) of which £17,750 are designated. 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 18 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.
Page 3
## **Birmingham Contemporary Music Group (Registered number: 02446126)**
## **Report of the Trustees for the Year Ended 31 March 2025**
## **FUTURE PLANS**
2025-26 we are looking forward to further international cooperation and touring: to Tokyo Opera City with Dai Fujikura's brand new Sho Concerto, a Sound Investment commission's premiere conducted by CBSO Music Director Kazuki Yamada. With Paris based Ensemble L'instant Donné and keyboard - Whizz Zubin Kanga, we'll premiere three new works by young French and British composers.
Later in the year, Julian Anderon's song cycle "Life Cycle" will be finished and world premiered in Birmingham; and we welcome back Dhaka based singer-performer and composer Neel Kamrul for another Music in Dialogue forming part of "Bangla Month" in our home city as Bangladesh's largest exclave.
Supporting composers of all ages, together with our partner ensemble CBSO we'll celebrate György Kurtag's centenary in February 2026 and a rich Learning programme .
## **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 4
## **Birmingham Contemporary Music Group (Registered number: 02446126)**
## **Report of the Trustees for the Year Ended 31 March 2025**
## **STRUCTURE, GOVERNANCE AND MANAGEMENT**
## **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 (resigned 12.9.25) J Chamberlain A D Jackson N Jonah G J Spruce B R Winton J C Cochrane R J Hopkins W P C Barry S A Johnson P Whitehouse (appointed 21.3.25)
## **Independent Examiner**
Locke Williams Associates LLP Chartered Accountants Studio 2 50-54 St Pauls Square Birmingham West Midlands B3 1QS
This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.
Approved by order of the board of trustees on 17 October 2025 and signed on its behalf by:
A D Jackson - Trustee
Page 5
## **Independent Examiner's Report to the Trustees of Birmingham Contemporary Music Group (Registered number: 02446126)**
## **Independent examiner's report to the trustees of Birmingham Contemporary Music Group ('the Company')**
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 March 2025.
## **Responsibilities and basis of report**
As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').
Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under Section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under Section 145(5) (b) of the 2011 Act.
## **Independent examiner's statement**
Since your charity's gross income exceeded £250,000 your examiner must be a member of a listed body. I can confirm that I am qualified to undertake the examination because I am a member of the Institute of Chartered Accountants in England and Wales, which is one of the listed bodies.
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:
1. accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or
2. the accounts do not accord with those records; or
3. the accounts do not comply with the accounting requirements of Section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination; or
4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)).
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
## David Williams FCA FCCA
Locke Williams Associates LLP Chartered Accountants Studio 2 50-54 St Pauls Square Birmingham West Midlands B3 1QS
Date: 17 October 2025
Page 6
## **Birmingham Contemporary Music Group**
## **Statement of Financial Activities (Incorporating an Income and Expenditure Account) for the Year Ended 31 March 2025**
|**31.3.25**
Unrestricted
Restricted
**Total**
funds
funds
**funds**
Notes
£
£
**£**
**INCOME AND ENDOWMENTS FROM**
Grants and donations
2
**431,706**
**32,725**
**464,431**
**Charitable activities**
5
Box Office and performances
**65,023**
**-**
**65,023**
Learning and participation
**15,290**
**-**
**15,290**
Sector development
**4,998**
**-**
**4,998**
Other trading activities
3
**724**
**-**
**724**
Investment income
4
**817**
**-**
**817**
Other income
**78,389**
**-**
**78,389**
**Total**
**596,947**
**32,725**
**629,672**
**EXPENDITURE ON**
Raising funds
**-**
**-**
**-**
**Charitable activities**
6
Box Office and performances
**321,054**
**32,725**
**353,779**
Learning and participation
**133,924**
**-**
**133,924**
Sector development
**13,867**
**-**
**13,867**
Commissioning
**73,889**
**-**
**73,889**
**Total**
**542,734**
**32,725**
**575,459**
**NET INCOME/(EXPENDITURE)**
**54,213**
**-**
**54,213**
**RECONCILIATION OF FUNDS**
Total funds brought forward
**66,449**
**-**
**66,449**
**TOTAL FUNDS CARRIED FORWARD**
**120,662**
**-**
**120,662**|31.3.24
Total
funds
£
490,468
26,468
27,484
13,002
608
351
82,970
641,351
158
349,907
204,432
31,810
70,953
657,260
(15,909)
82,358
66,449|
|---|---|
The notes form part of these financial statements
Page 7
## **Birmingham Contemporary Music Group (Registered number: 02446126)**
## **Balance Sheet 31 March 2025**
|Unrestricted
Restricted
funds
funds
Notes
£
£
**FIXED ASSETS**
Tangible assets
14
**528**
**-**
**CURRENT ASSETS**
Debtors
15
**119,245**
**-**
Cash at bank
**83,108**
**-**
**202,353**
**-**
**CREDITORS**
Amounts falling due within one year
16
**(82,219)**
**-**
**NET CURRENT ASSETS**
**120,134**
**-**
**TOTAL ASSETS LESS CURRENT**
**LIABILITIES**
**120,662**
**-**
**NET ASSETS/(LIABILITIES)**
**120,662**
**-**
**FUNDS**
18
Unrestricted funds:
General fund
Designated fund
**TOTAL FUNDS**|**31.3.25**
**Total**
**funds**
**£**
**528**
**119,245**
**83,108**
**202,353**
**(82,219)**
**120,134**
**120,662**
**120,662**
**102,912**
**17,750**
**120,662**
**120,662**|31.3.24
Total
funds
£
4,000
133,901
3,616
137,517
(75,068)
62,449
66,449
66,449
48,699
17,750
66,449
66,449|
|---|---|---|
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025.
The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 in accordance with Section 476 of the Companies Act 2006.
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.
The notes form part of these financial statements
Page 8
## **Birmingham Contemporary Music Group (Registered number: 02446126)**
## **Balance Sheet - continued 31 March 2025**
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 17 October 2025 and were signed on its behalf by:
A D Jackson - Trustee
The notes form part of these financial statements
Page 9
## **Birmingham Contemporary Music Group**
## **Cash Flow Statement for the Year Ended 31 March 2025**
|Notes
**Cash flows from operating activities**
Cash generated from operations
21
Net cash provided by/(used in) operating activities
**Cash flows from investing activities**
Purchase of tangible fixed assets
Interest received
Net cash provided by investing activities
**Cash flows from financing activities**
New loans in year
Loan repayments in year
Net cash (used in)/provided by financing activities
**Change in cash and cash equivalents**
**in the reporting period**
**Cash and cash equivalents at the**
**beginning of the reporting period**
22
**Cash and cash equivalents at the end**
**of the reporting period**
22|**31.3.25**
**£**
**94,662**
**94,662**
**(269)**
**817**
**548**
**-**
**(10,000)**
**(10,000)**
**85,210**
**(2,102)**
**83,108**|31.3.24
£
(44,383)
(44,383)
-
351
351
30,000
-
30,000
(14,032)
11,930
(2,102)|
|---|---|---|
The notes form part of these financial statements
Page 10
**Birmingham Contemporary Music Group**
## **Notes to the Financial Statements for the Year Ended 31 March 2025**
## **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 11
**Birmingham Contemporary Music Group**
## **Notes to the Financial Statements - continued for the Year Ended 31 March 2025**
## **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**
|Sponsorship and donations
Grants||**31.3.25**
**£**
**132,854**
**331,577**
**464,431**||31.3.24
£
152,849
337,619
490,468|
|---|---|---|---|---|
||||||
||||||
|Sound Investment||**9,076**||8,010|
|Charitable Trusts and foundations||**114,103**||112,094|
|General Donations and Gift Aid||**9,675**||14,995|
|Designated Fund Donations||**-**||17,750|
||||||
||||||
|||**132,854**||152,849|
||||||
||||||
Page 12
## **Birmingham Contemporary Music Group**
## **Notes to the Financial Statements - continued for the Year Ended 31 March 2025**
## **2. GRANTS AND DONATIONS - continued**
Grants received, included in the above, are as follows:
|Arts Council England, West Midlands
CBSO
**3.**
**OTHER TRADING ACTIVITIES**
Sales of CDs, music scores etc
**4.**
**INVESTMENT INCOME**
Deposit account interest
**5.**
**INCOME FROM CHARITABLE ACTIVITIES**
Activity
Box office
Box Office and performances
Performances
Box Office and performances
Learning & Participation
Learning and participation
Sector development
Sector development
**6.**
**CHARITABLE ACTIVITIES COSTS**
Box Office and performances
Learning and participation
Sector development
Commissioning|Direct
Costs (see
note 7)
£
**176,689**
**63,699**
**4,708**
**25,037**
**270,133**|**31.3.25**
**£**
**325,535**
**6,042**
**331,577**
**31.3.25**
**£**
**724**
**31.3.25**
**£**
**817**
**31.3.25**
**£**
**4,644**
**60,379**
**15,290**
**4,998**
**85,311**
Support
costs (see
note 8)
£
**177,090**
**70,225**
**9,159**
**48,852**
**305,326**|31.3.24
£
325,535
12,084|31.3.24
£
325,535
12,084|
|---|---|---|---|---|
||||337,619||
||||31.3.24
£
608
31.3.24
£
351
31.3.24
£
5,706
20,762
27,484
13,002
66,954
Totals
£
**353,779**
**133,924**
**13,867**
**73,889**|31.3.24
£
608
31.3.24
£
351
31.3.24
£
5,706
20,762
27,484
13,002|
|||||66,954|
||||**575,459**||
Page 13
## **Birmingham Contemporary Music Group**
## **Notes to the Financial Statements - continued for the Year Ended 31 March 2025**
## **7. DIRECT COSTS OF CHARITABLE ACTIVITIES**
|Staff costs
Musicians' and artists' fees
Concert expenses
Commissioning
Marketing
**SUPPORT COSTS**
Box Office and performances
Learning and participation
Sector development
Commissioning|**31.3.25**
31.3.24
**£**
£
**17,886**
44,396
**134,865**
167,323
**77,101**
90,121
**22,250**
20,700
**18,031**
15,341
**270,133**
337,881
Management
£
**177,090**
**70,225**
**9,159**
**48,852**
**305,326**|
|---|---|
## **8. SUPPORT COSTS**
|Activity|Basis|of allocation|
|---|---|---|
|Management|2025|income|
Support 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.
Support costs, included in the above, are as follows:
||Box|||
|---|---|---|---|
||Office|Learning||
||and|and|Sector|
||performances|participation|development|
||£|£|£|
|Wages|**118,912**|**47,155**|**6,151**|
|Social security|**7,400**|**2,935**|**383**|
|Pensions|**8,488**|**3,366**|**439**|
|Rent, rates and insurance|**14,392**|**5,707**|**744**|
|Other Office Expenses|**21,371**|**8,474**|**1,105**|
|Other|**4,357**|**1,728**|**225**|
|Depreciation of tangible and heritage||||
|assets|**2,170**|**860**|**112**|
||**177,090**|**70,225**|**9,159**|
Page 14
## **Birmingham Contemporary Music Group**
## **Notes to the Financial Statements - continued for the Year Ended 31 March 2025**
## **8. SUPPORT COSTS - continued**
|**31.3.25**
Total
Commissioning
activities
£
**£**
Wages
**32,804**
**205,022**
Social security
**2,042**
**12,760**
Pensions
**2,341**
**14,634**
Rent, rates and insurance
**3,970**
**24,813**
Other Office Expenses
**5,895**
**36,845**
Other
**1,202**
**7,512**
Depreciation of tangible and heritage
assets
**598**
**3,740**
**48,852**
**305,326**
**9.**
**NET INCOME/(EXPENDITURE)**
Net income/(expenditure) is stated after charging/(crediting):
**31.3.25**
**£**
Depreciation - owned assets
**3,741**
Independent Examination
**-**|31.3.24
Total
activities
£
**208,692**
**14,317**
**14,092**
**23,985**
**35,025**
**18,957**
**4,153**|
|---|---|
||**319,221**|
||31.3.24
£
4,153
1,950|
## **10. TRUSTEES' REMUNERATION AND BENEFITS**
There were no trustees' remuneration or other benefits for the year ended 31 March 2025 nor for the year ended 31 March 2024.
## **Trustees' expenses**
There were no trustees' expenses paid for the year ended 31 March 2025 nor for the year ended 31 March 2024.
## **11. STAFF COSTS**
|**STAFF COSTS**||||
|---|---|---|---|
|Wages and salaries
Social security costs
Other pension costs
The average monthly number of employees during the year was as follows:
Management
Project staff
Administration|**31.3.25**
**£**
**222,908**
**12,760**
**14,634**
**250,302**
**31.3.25**
**4**
**2**
**1**
**7**|31.3.24
£
253,088
14,317
14,092||
|||281,497||
||||31.3.24
5
2
1
8|
No employees received emoluments in excess of £60,000.
Page 15
## **Birmingham Contemporary Music Group**
## **Notes to the Financial Statements - continued for the Year Ended 31 March 2025**
## **11. STAFF COSTS - continued**
The total amount of employee benefits received by key management personnel is £112,436 (2024 £98,468). The charity considers its key management personnel comprise the board of directors, who are the charity's trustees and are unpaid, and the senior management team.
## **12.**
## **COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES**
|Unrestricted
funds
£
**INCOME AND ENDOWMENTS FROM**
Grants and donations
470,484
**Charitable activities**
Box Office and performances
26,468
Learning and participation
27,484
Sector development
13,002
Other trading activities
608
Investment income
351
Other income
82,970
**Total**
621,367
**EXPENDITURE ON**
Raising funds
158
**Charitable activities**
Box Office and performances
349,907
Learning and participation
184,448
Sector development
31,810
Commissioning
70,953
**Total**
637,276
**NET INCOME/(EXPENDITURE)**
(15,909)
**RECONCILIATION OF FUNDS**
Total funds brought forward
82,358
**TOTAL FUNDS CARRIED FORWARD**
66,449|Restricted
funds
£
19,984
-
-
-
-
-
-
19,984
-
-
19,984
-
-
19,984
-
-
-|Total
funds
£
490,468
26,468
27,484
13,002
608
351
82,970
641,351
158
349,907
204,432
31,810
70,953
657,260
(15,909)
82,358
66,449|
|---|---|---|
Page 16
## **Birmingham Contemporary Music Group**
## **Notes to the Financial Statements - continued for the Year Ended 31 March 2025**
## **13. INTANGIBLE FIXED ASSETS**
|**INTANGIBLE FIXED ASSETS**||||||
|---|---|---|---|---|---|
||||||Other|
||||||intangible|
||||||assets|
||||||£|
|**COST**||||||
|At 1 April 2024 and 31 March 2025|||||**6,080**|
|**AMORTISATION**||||||
|At 1 April 2024 and 31 March 2025|||||**6,080**|
|**NET BOOK VALUE**||||||
|At 31 March 2025|||||**-**|
|At 31 March 2024|||||-|
|**TANGIBLE FIXED ASSETS**||||||
||Computer|Office|Musical|||
||equipment|equipment|equipment||Totals|
||£|£|£||£|
|**COST**||||||
|At 1 April 2024|**85,318**|**13,362**|**58,010**||**156,690**|
|Additions|**269**|**-**||**-**|**269**|
|At 31 March 2025|**85,587**|**13,362**|**58,010**||**156,959**|
|**DEPRECIATION**||||||
|At 1 April 2024|**81,580**|**13,100**|**58,010**||**152,690**|
|Charge for year|**3,479**|**262**||**-**|**3,741**|
|At 31 March 2025|**85,059**|**13,362**|**58,010**||**156,431**|
|**NET BOOK VALUE**||||||
|At 31 March 2025|**528**|**-**||**-**|**528**|
|At 31 March 2024|3,738|262||-|4,000|
## **14. TANGIBLE FIXED ASSETS**
All assets are used in direct furtherance of the Charity's objects.
## **15. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
|**DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**|||
|---|---|---|
|Trade debtors
Other debtors
Prepayments and accrued income|**31.3.25**
**£**
**75**
**4,113**
**115,057**
**119,245**|31.3.24
£
178
10,882
122,841|
|||133,901|
Page 17
## **Birmingham Contemporary Music Group**
## **Notes to the Financial Statements - continued for the Year Ended 31 March 2025**
## **16. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
|Bank loans and overdrafts (see note 17)
Other loans (see note 17)
Trade creditors
Social security and other taxes
Other creditors
Accruals and deferred income|**31.3.25**
**£**
**-**
**20,000**
**53,624**
**6,494**
**1**
**2,100**
**82,219**|31.3.24
£
5,718
30,000
28,576
3,482
1,292
6,000|
|---|---|---|
|||75,068|
## **17. LOANS**
An analysis of the maturity of loans is given below:
|Amounts falling due within one year on demand:
Bank overdrafts
Other loans|**31.3.25**
**£**
**-**
**20,000**
**20,000**|31.3.24
£
5,718
30,000|
|---|---|---|
|||35,718|
During the year the charity repaid £10,000 of its short term loan of £30,000. The balance of the loan is repayable on demand and is interest free.
## **18. MOVEMENT IN FUNDS**
|**Unrestricted funds**
General fund
Designated fund
**TOTAL FUNDS**
Net movement in funds, included in the above are as follows:
**Unrestricted funds**
General fund
**Restricted funds**
Donor specified
**TOTAL FUNDS**|At 1.4.24
£
**48,699**
**17,750**
**66,449**
**66,449**
Incoming
resources
£
**596,947**
**32,725**
**629,672**|Net
movement
At
in funds
31.3.25
£
£
**54,213**
**102,912**
**-**
**17,750**
**54,213**
**120,662**
**54,213**
**120,662**
Resources
Movement
expended
in funds
£
£
**(542,734)**
**54,213**
**(32,725)**
**-**
**(575,459)**
**54,213**|
|---|---|---|
Page 18
## **Birmingham Contemporary Music Group**
## **Notes to the Financial Statements - continued for the Year Ended 31 March 2025**
## **18. MOVEMENT IN FUNDS - continued**
## **Comparatives for movement in funds**
|At 1.4.23
£
**Unrestricted funds**
General fund
82,358
Designated fund
-
82,358
**TOTAL FUNDS**
82,358
Comparative net movement in funds, included in the above are as follows:
Incoming
resources
£
**Unrestricted funds**
General fund
603,617
Designated fund
17,750
621,367
**Restricted funds**
Donor specified
19,984
**TOTAL FUNDS**
641,351|Net
movement
At
in funds
31.3.24
£
£
(33,659)
48,699
17,750
17,750
(15,909)
66,449
(15,909)
66,449
Resources
Movement
expended
in funds
£
£
(637,276)
(33,659)
-
17,750
(637,276)
(15,909)
(19,984)
-
(657,260)
(15,909)|
|---|---|
## **Designated Funds**
The funds will be fully used to support the activities of BCMG on special release by the board.
## **19. RELATED PARTY DISCLOSURES**
There were no related party transactions for the year ended 31 March 2025.
## **20. ULTIMATE CONTROLLING PARTY**
The ultimate controlling party is considered to be the Board of Directors.
Page 19
## **Birmingham Contemporary Music Group**
## **Notes to the Financial Statements - continued for the Year Ended 31 March 2025**
|**21.**|**RECONCILIATION OF NET INCOME/(EXPENDITURE)**|**TO NET CASH**|**TO NET CASH**|**FLOW FROM**|**OPERATING**|
|---|---|---|---|---|---|
||**ACTIVITIES**|||||
|||||**31.3.25**|31.3.24|
|||||**£**|£|
||**Net income/(expenditure) for the reporting period (as**|**per the**||||
||**Statement of Financial Activities)**|||**54,213**|(15,909)|
||**Adjustments for:**|||||
||Depreciation charges|||**3,741**|4,153|
||Interest received|||**(817)**|(351)|
||Decrease in debtors|||**14,656**|35,926|
||Increase/(decrease) in creditors|||**22,869**|(68,202)|
||**Net cash provided by/(used in) operations**|||**94,662**|(44,383)|
|**22.**|**ANALYSIS OF CASH AND CASH EQUIVALENTS**|||||
|||||**31.3.25**|31.3.24|
|||||**£**|£|
||Notice deposits (less than 3 months)|||**83,108**|3,616|
||Overdrafts included in bank loans and overdrafts falling due within one|||||
||year|||**-**|(5,718)|
||Total cash and cash equivalents|||**83,108**|(2,102)|
|**23.**|**ANALYSIS OF CHANGES IN NET (DEBT)/FUNDS**|||||
|||At 1.4.24||Cash flow|**At 31.3.25**|
||||£|£|**£**|
||**Net cash**|||||
||Cash at bank and in hand||**3,616**|**79,492**|**83,108**|
||Bank overdraft||**(5,718)**|**5,718**|**-**|
||||**(2,102)**|**85,210**|**83,108**|
||**Debt**|||||
||Debts falling due within 1 year|**(30,000)**||**10,000**|**(20,000)**|
|||**(30,000)**||**10,000**|**(20,000)**|
||**Total**|**(32,102)**||**95,210**|**63,108**|
Page 20
## **Birmingham Contemporary Music Group**
## **Notes to the Financial Statements - continued for the Year Ended 31 March 2025**
## **24. MEMBERS' GUARANTEES**
The number and amounts of guarantees given by the members at 31 March 2025 were as follows:
||**Number**|**Total**
**Maximum£**|
|---|---|---|
|Guarantees not exceeding £1 each|**10**|**10**|
||||
||||
Page 21