Registered Number: 2807620 Charity. Number: 1020066 RAW MATERIAL MUSIC AND MEDIA EDUCATION LIMITED (A company limited by guarantee) TRUSTEES, REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022 RAW MATERIAL MUSIC AND MEDIA EDUCATION LIMITED (A company limited by guarantee) FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2022 CONTENTS PAGE Reference and Adminisiraiive deiails Trustees. Annual Rerrf)rt Inderendent Examin&s Rewrt Statemeni of Finan¢ial Aciivilies (incortrf)rating the in¢om¢ and ¢xp¢nditure ac¢otsnil 12 Balance sheet 13 Notes to th¢ Financial Sta￿ments 15 RAW MATERIAL MUSIC AND MEDIA EDUCATION LIMITED (A company limited by guarantee) REFERENCE AND ADMINISTRATIVE DETAILS YEAR ENDED 31 MARCH 2022 Registered charity name Raw Maierial Music and Media Educalion Limited Address 2 Robsart Street. London SW9 ODJ Charity registration number 1020066 Company registrntion number 2807620 Registered office 3" 1.'11)i)r Sol(Ir I louse 1- 9 Romford R()ad Londi)n E154RG Independent Ex#miner Jel'lre). l.ishak FC"A Jones & Partners Limiled 3, Floiir Siilar Holi 1- 9 Rumt-ord Road .ondon E154RG RAW MATERIAL MUSIC AND MEDIA EDUCATION LIMITED {A company limited by guarantee) TRUSTEES. ANNUAL REPORT (INCLUDING DIRECTORS REPORTI YEAR ENDED 31 MARCH 2022 The Trustees present iheir annual rerrtin iogeiher ￿'1[h ihe financial sratements of ihe charit), for the year cndcd 31 March 2022. Thc IrustC¢5 hav¢ adopt¢d th¢ provisions of th¢ Stai¢mcni of Recomni¢iidcd Practice {SORPI "Accounting and Reporting bv Charilies" in preparing the annual report and financial statements of the charity. The financial siaiemenis have been prepared in accordance wilh ihe accounting wilicies set out in notes to th¢ accounts and cornpl}' with ihc charit}. s govcrningdocunicnt. thc Charitics Act 201 l and Accounting and Reponing by Charities.. Siaiemeni of Recommended Praciice applicable to charities preparing their accounts in accordance wilh the Financial Rewning Sthndard applicable in the UK and Republic of Ireland (fRS 102). EXECUTIVE SUMMARY Raw Matcrial Miisic and M¢dia Education Liniil¢d I"Rdw Mal¢rial"l 15 a cr¢ativ¢ arts and niusic c¢ntre for >'ounb people and adults. Based in Lambeih. Souih London. Ra￿. Maierial works in lh¢ lo¢al areo. across I,ondon and in other areas of the UK and internarionally. Originally founded by four Brixlon residents in 1993, the charity now runs out of a purwse-built, thre storey biiildingr which w&$ fund¢d bj. a capitsl grani from Arts Council England l ACE"). The buildii)g has iwo studios. a compuier suite. DJ. music and video produciion software and hardware. and a room for pLrformancLs, workshops and ensen)ble M'ork. Raw Material'5 programme seek5 to be inclusive and accessible for those with the greatest need. Participants come from diverse backgrounds. incltsding So¢1￿¢¢OnoMIea1j>, challeng*ed &Jroups.' African. AfriLan-Caribix'an. Asian and other n)i%ed heriiabJL comn)uniiies: ￿0￿n￿l and emLrb>inbJ artists abied 16-30; and }'oung people agFed I1-?5. Througyh the 'Raw Sounds programn)e Raw Material oifer5 crealiie and therapeutic activity for people experiencing mental ill health. The charity's mission statemenl is- "Raw makLAS a crcalive life a langible realil), by nyrluring raw. lalenl, colali'sivg creaiive dcvL.loppncNI and .Fuppfprlirtg mLWlllal hcL71ih ihnlugh iKduslrp' 51anJurd music L7Kd mL.dia paihM'al'.f for divL'r.fe commtsrtitlC5 al OUT crealll'C.Soiiih London C'omnI￿nIIJ. Hub and vio our vibroni onl1￿C conimuKily. Articulatin&> its vision. Raw Malerial siaies.. '0￿r organi5allOrt will.. Improve ihe lives ofj'oungpeople ihrough creative opportunilies. progre55ion and dEvclopmEIFt Offer ptsrtl£'lPUfrll3-l£,d creoiive uppvriuKiiies io Jyjunxpevple und odulis io suppvri posiiive mL)Illul healih Target under-repre.fentedgroiip.f for ourprovi.fion, focu5iJYg ihose H,ho.fuce significani hurriers to UCCEssing creative opporlunities or dcvelopmcnl Jnvoli'L' parlicipant.f undslau'al all levels in R(ni' Matcrial s pnanagemenl undgovErnance, including rec'riiitm¥rtl. prujcc'l dcsiglt undguvcrnunce slriicliwe5 Bec'(Jme u m(Idel ofgoodpruc'iice in incliision anddiversi117 wiihin our creaiiveprociice. manogemeni ovdgorcrnance RAW MATERIAL MUSIC AND MEDIA EDUCATION LIMITED {A company limited by guarantee) TRUSTEES. ANNUAL REPORT (INCLUDING DIRECTORS REPORTI YEAR ENDED 31 MARCH 2022 ModL,I c'ollec'live leudership Siriiclures ui ei'ery decisivn-mukink level of ihe orgartisaiion IvhiLh stsppori a democraric approach. refleciing a diiiersiii. 0fexpel-jL￿1Iee Seek ngwfinanciol sitsiainabilin. Ihrough ieamivork ahdo colleciive enirepreneurial opprooch" Raw. Material has six core values. These are.. io activeli, listen and commiinicate iviih eoch oiher io be ambilious und enlreprL'neiirial io he ctsmmiiied in.fiippi)rling tach oihL'r io grniv anddevelop lo practiLe collective democrolic decision-making io opt￿￿ irartspareni and ti) L'mhrace new approaches and opp)riuniiies MAIN ACTIVITIES> IIY 2021-22 Context Followingj a disrupied >'ear due io Covid. Raw Maierial opened to selccied gyroups again in April 2021, leadin& to a full buildin&y opening in Junc 20? l after which time Raw Mal¢rial has been abl¥ (o U￿raIe fully. Capa¢ilies for ¢lass¢s have remained reasoiiabl!. r¢siri¢¢ed for gyeneral safety. Th¢ ¢lT¢¢ts of iwo yLars of locK.downs coniinuc to be visible within Raw Material s communiiies- affecting boih older and yL)ungyer menikrs equally in terms of ongyoingy niental liealih conditions. siudy and WOTk prospecls and gLn¢rdl w¢lliK'in&. Raw Material's ¢ours¢s and projects Continue io provid¢ an important source of ¢reative release and therapeutic benefit io Raw Material's memtrtr participants and wailing lisis 'li hL.Ip¥ ML. 1¢? AL'I tsp Lwvtjrir mcirKiNx. .f()mL'ihinx 1¢) l¢xik Icpnvardici. l¢1 hL' crcollVC' Urtd LJxpfL'.f.11)'L. ii'iih. Ji hrinK.5 hriAFhin¢.f.¥ 11> my dai, uml wiih¢)iii Rmtr. il wi)iild hL. durk. Pl¢ase dc)fri I luke nii?.sun.¥hiK¢' uwui, Raw Sciund.Y memher, March 22 Oi'ervlew Si&Jnificallt new partnerships were fornied wilh commercial industry partners Vevo. with whom Raw Maierial l' Paines Plough. A major summer highli8hi was Raw Material's 'Revamp' project which saw 17 teenagers work with Six local professional emerging artists and designers to redesign, redecorare and reclaim the building's int¢rior spac¢s. Th¢ proj¢¢t rdn over 2 w¢¢ks eulminaliiig with open house and ¢v¢nt for faniil}' and friends. The projeci was picked up bj, Ihe EItIC and fcaiured on their regional broadcast London Live. Delivergbles and outtomes 21122 187 individuals between 11-65 engaged in i63 sessions including song writing. vocal peTformance. soiind art and creatiie iechnolog>' with ? online showcases for participanis In RLach - 26 sessions in LaMb￿h and Maudsley hospi￿15 acu￿ men￿] health ward5 With 148 patienls a¢TOSS (h¢ year 153 aiiendLes ai masierclasses wilh BBC Introducing. Artists & Branding ￿'1(h WMA I)ib>jtal Abiency, Artists & Networks Yomi Sode and Eska Mtungwazi. PRS for Music. Vevo Global Music Vid¥ AQA A¢¢redita(ion.' 24 IndividLials su¢¢L￿S[￿lIY achieved AQAS .' 16 over 30's and 8 under 30's 3 1.aLilitated prugiramme desigpn consulialions for young F¢ople Enbragr¢n)¢ni, r¢f¢rrals and f¢¢dba¢k from 6? Car¢ Coordinators Worked with JO freelance creative practitioners otrering CPD for a core group of15 Isafeg7uardiii&. online facilitation, music specific. funding applications) and refleclion sessions. an online kEer siipporl. and sharing of best praclice Raw Talent l' WMA and a new partner Spiriiland Produciions in ?022 A creative monthl J. new51etter distribution to 786 subscribers190(*/o increase from previou5 year) Supporting small¢r charity. School Ground Sounds in fundrnising, trnining and d¢v¢lopn)¢nt and projeLi hoslinb? at our buildinb members progressed to engage in 4 hours of volunieering Irdining within the Raw Sounds prograninie a55L5ting with sign in procedure5. setting up the rooms for session5 and 5UPPOrting mL15it811>' in the sessions via instrumental pla)'in&J and audio produciion assistance 4 }'oung people engaged in 6 hours of l-to-l mentoring. including CV development. progression route id¢ntification and in-hous¢ studio skill d¢velopmenl 9 ￿OUng people participated in an 8-￿"eel Young Leaders course, focused on developing artist facilitation aiid creative employabilit). skills When Raw Material moi.ed its provision online in 20?0. 30Q/o of its rnembe￿ were proficient in using zoom and accessing programmes confiden(l)'. B). mid 2021. 850/ts of members were confidenl in logging into zoom without assistance and accessing our sessions Wellbeing and In Reach Hospi141 Programme 600/0 of paticnts said thc In Rcach creatii'c sessions hel￿ dislracl them from ￿Ing in hospital 800/0 of patients said the session5 helped to relax thet RAW MATERIAL MUSIC AND MEDIA EDUCATION LIMITED {A company limited by guarantee) TRUSTEES. ANNUAL REPORT (INCLUDING DIRECTORS REPORTI YEAR ENDED 31 MARCH 2022 87 % of participanls rewrted an improvement in iheiremoiional state afterthking part in a Raw Sounds session Raw Sounds Case sI￿di¢S Case Study: Ms A - Ra￿ Sounds member Ms A has been living in and oui of assisied care for ihe pasi iivo )edrs due 10 her mental disabilir>,. She has previously engaged wilh Raw Sounds bui siopwd attending when ihe programmc went onlinc during lockdown as sh¢ w&sn t interested in cngagiwhg digitallj.. Since ihc building r¢o￿ned, the Raw Material staff encouraged Ms A io start auending sessions again. how'ever whenever the ieam called her. she was never willing io commii io the sessions. worried alx)ui ho￿, she would attend and ivhether she would know anybody. The Raw Maierial team eventually encouraged her to come io a session with her care coordinator. She was quite shy in th¢ s¢s5ion bui did join in wilh lh¢ group sijigingi slart¢d to ¢nkia&i¢ a liiil¢ wilh il)e other participanis. With consiani ￿minderS from the Raw Maierial ieam. we enabled Ms A to start attending? the progTraniines at a 600. rale. She was regularl}, laie to ihe sessions. Wl)en Ihe opportunity of a live perlormance in AugTUSt ?0? I became a possibility. Ms A 51arted engyagyin&y more and asked to join a new course, explorinbj music and iheaire. This new goal seemed io drii'e Ms A. who stsrtcd iurning up to sessions on time. She aitended 700/0 of ihe rehearsa15 al the perfomiance. perfomied her own poetry and sangj a solo in front of the audience. The day after ihe perforniance. slie contacted Raw Material to say the following.. "l um .iiill.sn LJXLIIL,d ojiLJr the perfclrmaneeyesierday. Thol IV&S such a conl fLJeliKR. I reollk likL,d hL'inR puJhc,d out ol" comlorl zone. Please lei mc knoH' iherc arc oiher coursej like ihui!* This was the most expressive and open correspondence received from Ms A and demonsirated Ihe power of gjiving people a space lo express ihemselves. helping them to feel part of a community and giving them To81 to work towards. Case Study.. Ms J- Raw Sounds participant Ms J {22 yr.) was originally ref¢rr￿ to ihe Raw Sounds programmc at the bcginning of 2019 via th¢ South London and Mdudslej. Nl IS Foundation Trust ISLaM} - which provides a M'ide ranbTe of n)ental health service5. She joincd the programme to expand her skills in music. meei like-li)inded }'oung pcople and d¢v¢lop h¢r confid¢n¢¢. Ms J suff¢r5 from a ph)'sical disability and ob5¢55lV¢ t¢nd¢n¢i¢5. Sh¢ oft¢n devaliies her self-worth and finds it hard io conneLI M'iih oihers. She found immediate solitude within the Raw Sounds programme. saving il was one of the firsl times she felt she'fit in,. Ms J built ongoing friendships w'iihin thc Raw Sounds prograinmc. In the scssions, She ￿allY cnjovcd l¢arning how to work with indu5trJ' standard audio ¢quipm¢iit. d¢v¢loping a high l¢v¢l of profi¢i¢ii¢y in the Logic Pro sofim'are and gained confidence in sharing these skills with others. Ram, encouraged Ms J to featu￿ in a BBC Sound5 radio pi¢¢¢ on di5ablcd artists in 2019. r¢pr¢Knting a major advancciiicnt in hcr 5clf-confid¢nc¢. as it was thc first lirn¢ Ms J had spokcn publicl). atx)ut hcr disability. Ms J felt out of contact with RAW Material during the e105ure period and phoned the or¥anisation, lookin for access to a music irack she had created. Our Programme Manager encouraged her to try Ihe online programmcs which sh¢ H'as initially h￿ltant al)out. Within lh¢ first s¢ssion. sh¢ ￿-fOUnd h¢r confidcncc: reconnected wilh some familiar faces and showed a clear enjovnieni. Ms J is now engaging weekls.. with the Raw Sounds Under 3Os song-wriling class and ihe SoundArt sessions. She recentl}, progressed to become an -advanced, member in the SoundArt session. RAW MATERIAL MUSIC AND MEDIA EDUCATION LIMITED {A company limited by guarantee) TRUSTEES. ANNUAL REPORT (INCLUDING DIRECTORS REPORTI YEAR ENDED 31 MARCH 2022 FINANCE A summary, of this >'ear's results is given on page 12 of the accounis. We are pleased (o report a surplus of £29,1 ?3. At 31 March 2022 the company had ￿se￿.¢5 of £970,655 of ￿]11ch £825,000 is fair i'alue r¢s¢rv¢. Financiall}', the organisation's tM)sition remains stable and new funds were secured. Raw Material has gained support from significani new funders and funds: Baring Foundation with an award of£?o.O• j Garfield Weston Foundaiion wilh an award of £15.( ACE Capital Funding of £498.000 Raw Material continues io receive mosi ofiis income from charitable grants. Three significani multi->'ear grants supporting the Raw Sounds programme and ioialling £90k from Comic Relief. Maudsley and WalLDt Trusts ¢nd¢d in March ?? Sub5t4wlial inv¢slm¢nl in fundraising ¢ook plac¢ in 21-2? Inaiiily in CEO lime M'ith some external consulianc), supwrt. This w&$ partl> due io a niajor re applicgiion process for ACE National Ponfolio sialus for 2023-2026. The resulis will be released in October 2022. The CEO and Trust¢es r¢¢obTnilion of th¢ de￿ndencY on grnnts as an in¢ome sour¢¢. and recommLndations from Cause 4's CuliuTe Chanb¥e probFrdmme. led io Ihe creation of a new role for Raw MaiLrial of Business D¢￿¢10pment Diri¢ior who will lead on &v¢n¢roting? new business optwrtunili¢s ouisid¢ of ¢haritabl¢ t￿$15 and foundaiions. Arts CouTh¢il C8pil41 Grant 2021 Raw Material continues io operate out of a building funded by a capiial grnnt from ACE in 1999. which enables the ¢harily ¢0 keep lis ￿nning costs niodesi. A5 pr¢viouslN' m¢n¢ion¢d Raw M'as delighted to reLeive a new capital birani in April 2022 of £498k. This Sibtrnificant funding will enable vital and exeitiiig chdn&)es to Raw Material's Brixton home 10 inLf*dse aLcess. improve funLiionaliiy. and environmental and finan¢ial ¢ffJci¢n¢i¢5. d¢v¢loping ¢Nisling spaces to tK¢om¢ mulii-funclion with fl¢xibl¢ tech fa¢iliti¢s and co-workinbj space. It will increase the or8ani5ational reach to more emergin8 creatives and young entrepreneurs and increase capacilv for oversubscrl￿d creaiive progrdmmes. ACE reqiiired £50k of 'matched' funding w.hich has been secured by a donation of £25k from Q Trust and the agreement of the TNs¢ees to utilise up to £30k from reserves. Further capital funding is currently being sought f￿M LB Lambeth's Future Workspace Fund. If successful. this will enable more improvement io the building including increased wtential for cfr work'ing spaccs for creativc entery)rises via a significant roof extension project. Alongside the funding application. planning pemiission is currenil>' being sought. It is cxtKCt¢d work will start around April 2023 wilh ¢v¢ry ¢ffort iKing made lo minimisc disruption to the Ra￿ M£lterial programme. The Management Commiiiee has designaied funds of £16.IMM) for major capital maintenance. RAW MATERIAL MUSIC AND MEDIA EDUCATION LIMITED {A company limited by guarantee) TRUSTEES. ANNUAL REPORT (INCLUDING DIRECTORS REPORTI YEAR ENDED 31 MARCH 2022 Reserves policy The reserves policy agreed by the Trustees is to have free reserves equivaleni to six months O￿rdI1ng cosis. such cosis not io include specific projecis benefiting from restricted grants. Addi1ionally. there is a dcsigFnated fund f(Trr major capiial ma1ntct￿nC¢. MANAGEMENT This )'car saw a stability and mod¢rat¢ gyrowih to th¢ InanagT¢m¢nt Icam. Raw Material's CEO and Programmes Team coniinued io lead ihe Progrdmme Delii'eo. supported b> a pan-iime ieam leading on Marketing, Comn)unicaiions. finance and Adminislraiion. A pan-iime Participant Support WoTkeT wa5 appointcd to th¢ tcam in Nov¢mlKr ?021. and a rccruilmcnt proccss took plpc¢ from January ¢(Tr Mar¢h 20?? for a new Business Developmeni Direcior. a new senior KK)St for Raiv Material. Icading on commercial. corporate and philanthropic development. RISKS A Board sU￿0Mmittee was set up in May to look specifically ai Risk for the charity and a Risk Rebiister was ¢reated whi¢h is now held and updaied annually by CEO and Board. GOVERNANCE Appointment of ¢rusi¢es Trusiees have been re¢rniied ihrough a range of rouies. The Charity has used advertisements and relevoni professional reLommenda(ions. A broad approach is used to recruit new Trusiees raiher than rel>'inb) on personal recomrnendations. The -frustee role is ouilined in ihe Trustee Induction Pack. Appointment of Trustees is a decision for the curreni trK>ard. Trustees The Board typically meets beiween four and six limes a vear. Board meetings began lo k held in person from the Second half of the >'ear and M'ere hi brid {in person.'onlinel fron) that tin)e. In addition to fulfilling our statutory obligations. the ￿ard. led by Jide Ashimi and Alex Ritchie as Co- Chairs. ¢ontinu¢s ¢0 l¢ad th¢ organisalion and th¢ Trust¢¢s also act a5 adv￿at¢S for th¢ Cliarity. A nuinbcr of Tru8tee5 were able to SUp￿rt the organi.salion in ditrerent ivays throughout the year. Trustee5 took part in training sessions including Safeguarding and Gender awareness. The consulian¢ and arts professional David Br) an, himself Chair of the iiew Brixton House Thealre. agreed io menlor Jide for six sessions, 5UPPOrting hi5 profe55ional development a5 Cfrchair and wider 5ectordl knowledge. None of the Trustees has anv beneficial interesi in (he company. The Trusiees are the memb￿5 of ihe company and guarantee to contribuie £1 O in the event of a ￿'Inding up. The Trustees are- J Ashimi A Ritchie G Smith S Denton S Choudhry RAW MATERIAL MUSIC AND MEDIA EDUCATION LIMITED {A company limited by guarantee) TRUSTEES. ANNUAL REPORT (INCLUDING DIRECTORS REPORTI YEAR ENDED 31 MARCH 2022 H Thomas S J Phillips (appointed on 09.04.21) E MtungFwazi {appOInt￿ on 09.04 ?11 Y Sod¢ {appoint¢d on 09.(H.211 T Aliius {appOin￿d on 09.04.21) Thc Chief Executiv¢ o￿lC¢T is M5 R Nclken The Chariiy is a compan), limiied b>. guardniee. govemed by its Memorandum and Anicles of Association last updated on 16 March ?022.The PUTposes of the uwiaie included the pernii55ible use ol. electroi)ic communications and online meeting?$ and UFdate5 of siaiutOTI' references. Signed b}, order of the irnsiees J Ashimi Date.. Oct 12. 2022 10- RAW MATERIAL MUSIC AND MEDIA EDUCATION LIMITED (A company limited by guarantee) INDEPENDENT EXAMINER'S REPORT TO THE MEMBERS OF RAW MATERIAL MUSIC AND MEDIA EDUCATION LIMITED YEAR ENDED 31 MARCH 2022 I report on the financial statemenis of ihe charity for the year ended 31 March 2022 set out on pages 12 to 21. RESPECTIVE RESPONSIBILITIES OF TRUSTEES AND INDEPENDENT EXAMINER Th¢ Trust¢¢s. who ar¢ a150 lh¢ dir¢ctor5 of thc company for th¢ purpos¢5 of Company law, ar¢ r¢sponsibl¢ for th¢ pre￿￿tion of th¢ financial statcm¢nts. Thc Trust¢¢s considcT tliat an audit is not required for this year under seciion 144(2} ofihe Charilies Aci 2011 (the Aci) and ihat an independent examination is needed. Having satisfied myself ihai the company is not svbjeci to audit under charity or company law and is eligTible for independent examination, it is my res￿nsibIlI￿, to- examine ihe financial siAiemenis under section 14.5 of the Aci. rollow the pro¢¢dur¢s laid down in ihe G¢n¢rdl Dir¢¢iions given by ihe Charil>' Commission undcr scclion 145{51(b) of thc Acl- state wh¢th¢r particular matters have cotne io Tn!. atten¢ion. BASIS OF INI)F.PF.NDENT EXAMINF.R'S STATF.MF.NT My eiaminaiion w&s LarriLd out in aLLordancL li.iih thL (iLneral Direciions given by the Charities Conimissioners. An examinaiion includes a review of the accouniing records kept b> the chariiy and a coniparison of the accounts presenied w'iih those ￿e0rd$. li also includes considcrdtion ()f any unusual items or disclosures in the accounis and seekingy explanations from vou as truslees concerninbi any such niatters. The PT(Kedures undertaken do nol provide all Ihe evidence that would be required in an audit and. con5equenily, no opinion is Lyiven a5 10 whetlier the financial 51aten)ents presen¢ a 'irue and fair view and the report is limiled io those mallers Set out in the slalement klow. INDF.PF.NDF.NT F.XAMINF.R'S STATF.MF.NT In connectiiTrn with niy examination. maller has conie to n)) alteiilion.. whiLh biives me reasonable cause lo ￿lIeVe ihai in any maierial respect the requirements.. lal to keep accounting records in accordance wilh 5¢Ction i86 of the Conipanies Act 2006,. and to pre￿re financial statements which accord wilh Ihe accounting records comply with the accounting requireiiients of section J96 of ihe Companies Act ?006 and with the methods and principles of the Statem¢nt of R¢wmm¢ndd Prncti¢¢: Accounting and Reporting bl. Chariiies have noi been mei.. or lo which. in my opinion. attention should be drawn in order to enable a prorkr understanding of th¢ accounts to ￿ r¢aoh¢d. Ibl (2) Jeffrey Lishak FCA Jones & Partners Limited Chartcrcd Accountants 3, Floor Solar House 1-9 Romtord Road London E15 4RG Dale: 11 RAW MATERIAL MUSIC AND MEDIA EDUCATION LIMITED (A company limited by guarantee) STATEMENT OF FINANCIAL ACTIVITIES {INCORPORATING THE INCOME AND EXPENDITURE ACCOUNT) YEAR ENDED 31 MARCH 2022 Unrestricted Funds Restricted Tot41 Funds Funds 2022 Total Funds 2021 INCOMING RESOURCES InLoming resuure¢s fro generaiing funds.. Voluntari. incon)¢ Invesiment income Incoming resources from Lharilablc activities 150,919 21 19&771 349,690 21 249,879 56 18,123 18,123 7,062 TOTAL INCOMING RE&>OURCES 169.IK 19&771 367834 256.997 RF.SOURCF.S F.XPENDED Chariiable aclii'iiies GovernanL¢ cosls (120,924) (18.OIMb) 1199,787) (320,711) (18.000) {219,701) 110.254) TOTAL RF.SOURCES EXPENDED (lJ8.924) {199.787) (338.711) {229.955) NF.T INCOMINC:I(OUTC.OING) RF.%OURCF.S BF.FORF. TRAN%FF.R JO.139 {1.016) 29.123 27,042 Trgnsfers between funds (3.761) 3.761 NET INCOME FOR THE YEAR 26J78 29,123 27,042 RECONCILIATION OF FUNI)S Tolal fund5 brought forward 928,490 13.042 941,532 914.490 TOTAL FUNDS CARRIED FORWARD 954068 15.787 970.655 941.532 The note5 on pages 15 to 21 fonn part ofth858 financial 5taternents. 12- RAW MATERIAL MUSIC AND MEDIA EDUCATION LIMITED (A company limited by guarantee) BALANCE SHEET 31 MARCH 2022 2022 2021 FIXF.D ASSF.TS TangTiblc &%_scts 10 840,787 838,042 CURRF.NT ASSETS Dcbtors Cash at bank and in hand 11 12,595 160.985 15,437 l i6.079 173.580 151,516 CRF.DITORS: Amount5 falling due within one year 12 (43.712) (48,026) NET CURRENT ASSETS 129.868 l OJ.490 TOTAL A￿ET5 LESS CURRENT LIABILITIES 970.6$5 941,532 NET ASSETS 97D.65S 941.53? R¢stri¢i¢d fiinds Restricted fixed ass¢t funds UnresiriLted funds G¢n¢ral funds De.SlbTnated funds Fair ￿'alue reserve 13 13 14 15.787 13,042 113.868 16.000 82S.000 89,490 14.000 825,000 954,868 941.5J2 TOTAL FUNDS 970,655 941.5)2 The note5 on pages 15 to 21 fonn part ofth858 financial 5taternents. 13- RAW MATERIAL MUSIC AND MEDIA EDUCATION LIMITED IA company limited ty guarantee) BALANCE SHEEf {CONTINUED) 31 MARCH 2022 These financial statements have been prepared in aCCordw￿e with the provisions applicable to companies subject to ihe small companies, regime. For the financial year ended 31 March Ihe charitsble COTnpany 15 entitled to exemption froin audil under Section 477 of th¢ Companies Act ?(Wtr. No member of th¢ Lharitable company hts deposil¢d a notice, piirsuani to section 47d r¢quiring • audii of thes¢ finan¢ial staiements under ihe requirements ofihe Companies Aci fjIK)6. The trustees acknowledge their responsibilities for ensuring thar ihe charitable company keeps proper accounting recorth ￿'hICh comply ￿'1th section 386 ofihe Companies Act 2(M)6 and preparing linancial staiemenis ￿hl¢h give a irue and fair vi¢u' of s￿¢ ofaffairs ofihe ¢haritabl¢ ¢ompan) & ar the eiid of ihe financial year and of its surpllls or deficir for ihe financial )'ear in accordance wilh rhe requiremenis of section 394 and 395. and which othenvise compl> w'ith the rcquireinents of the Companies Aci ?(XkJ relaiing io accounts. w far & applicable ￿ the charithble company. These financial statements were approved b). the memE¢ts of the committee (Kl 12ih October 20?? are signed on their behalf ty.. J Ashimi Compan>. regi8tration number. 2807620 The notss m pa￿ Z fonn part ofthese financial 8laiements. RAW MATERIAL MUSIC AND MEDIA EDUCATION LIMITED (A company limited by guarantee) MANAGEMENT INFORMATION YEAR ENDED 31 MARCH 2022 ACCOUNTING POLICIES Basis ofaccountlDg These acLOUtits have been prepared under the historical cosi convenlion wilh ilems reLognised at cosi or transaciion value unless oiherwise sthted in ihe releiant notrfsl io these accounts. The financial _%tatcn)¢nts arc prcscnted in stcrling which is the functional ¢UTr¢ncy of th¢ charity and rothnded io ihe nedresi £. Thc f)[￿n(]a1 slal¢m¢nt5 hav¢ ￿en P￿par￿ in accordanc¢ wilh Stat¢ni¢nt of R¢coniincnd¢d Praciice.. Accounting and Reporting b)" Charilies weparing iheir accounts in accordance with the Financial Rewning Standard applicable in ihe Uniied Kingdoni and Republic of Ireland IF RS 1021. the Charities Aci 2011. th¢ Companics Ad 2(M)6 and UK Generally A¢c¢pted A¢¢ounting Praciice. The financial sta¢emenls have prepared on a gjoingi concern basis as the tru5tee5 believe ihat no material Lincertainiies exisi. The irusiees have Considered ihe level of funds held and lh¢ expecied level of income and expendiiure for l? monihs from authorising these financial stat¢m¢nts. The bud&yet¢d income and eX￿ndItUre is SU￿1(1¢nt with the level of reserves for the chariiv 10 be able to continue as a bioing concern. Funds 5tru¢ture Restricted fund5 are to be used for specific pur[￿￿¢5 as laid down by the donor. Expenditure which m¢¢ts ihcse ¢riieria is Charged to ihe fund. together with a fair allocaiion of n)anag?eii)eni and support cosis. Unr¢siri¢ied fiinds are donaiions and other tn¢oming resources re¢eiv2ble or generated for the objeLiS of the charitv without funher s￿lfied purw)se and are a%'ailable as gieneral funds. D¢signai¢d funds are unr¢stri¢ted funds ¢amarked by the management ¢ommitt¢¢ for parti¢ular purposes. Incoming resourees Voluntar). incom¢ including donation5. gifts and l¢ga¢i¢s and grants that providc corc funding or are of gencral naturc arc rccognised where ther¢ is ¢ntitlement. ¢¢rtaint)' of receipt and tl)e ainount can be rneasured with suificient reliabilit).. Such income is onl}, deferred when.. The donor specifies ihai ihe grdnl or donaiion must only be used in future accounting periods,. or The donor has imposed condiiions which must be met before Ihe charity has unconditional entitlement. Resources expended Resources ex￿nded are recognised in the ￿rIOd in which they are incurred. Resource5 expended include attributable V A T which cannot be recovered. R¢sOu￿¢S ¢X￿nd¢d ar¢ allwat¢d to ih¢ particular artivity whcr¢ th¢ cost r¢lat¢s dir¢ctly to that activity. 15- RAW MATERIAL MUSIC AND MEDIA EDUCATION LIMITED (A company limited by guarantee) MANAGEMENT INFORMATION YEAR ENDED 31 MARCH 2022 ACCOUNTING POLICIES (continued) Goi'trrtanee costs Govemance eosis include costs of ihe prepardiion of siaruiorye accounts. the costs of (rusiee meeiings and cosi of any legal advice io Irusiees on governance or consiitulional mailers. TanRible fixed gssets And depreciatio Tangible fixed assets are siaied ai hisiorical cost or valuaiion less accuinulated depreciation. Historical cost includes Cxpcnditure ihat is direcilj attributable to bringTingT th¢ ass¢t to tl)¢ location and condition necessary for it io be capable of operalinLy in ihe mani)er intended by mai)agTeinenr. Depreciation is provided on all tangible fixed asseis ai raies ¢al¢ulai¢d io write off the ¢os¢ over lh¢ expwed useftsl ¢¢onomic lives. D¢pre¢iaiion is noi Charged on fre¢hold property. Compui¢r equipment- 2 years sir8ighi line tosis Pensiorts Contributions towards stsrrdefined contribution personal pensions are charujed io the Sialement of Financial A¢iivili¢s as ¢hey b¢¢omc pavable. The ¢harits, has no liabilily kvond its coniribuiions and payin&) across the deduciions for ihe employees. share ofconiribuiions. Flnancial Instruments The Charity only hold5 basic Financial Instruments. The financial assets and financial liabilities of the Charit>. are as follows: D¢biors- tradc and oihcr d¢btors (including accrued incom¢l arc b￿lC financial in5trum¢nts and are debt instruments m¢asur¢d at amortis¢d ¢osi as d¢tail¢d in Note I l. Pr¢pa>'m¢nts are not financial instruments. Cash at bank- is classified Ls a b&sic fina￿1#] instrument and is measured At face walue. Liabilities trad¢ (r￿lIOrs, accruals alld other creditor5 will be classifi¢d as financial instruments, and are measured ai amortised cost as detailed in Note 12. Deferred income is not deemed lo ￿ a financial liabilit!.. as in ihe cash seiilemeni has already iaken place and (here is siThpl)' an obligation to d¢liY¢r ¢harilabl¢ s¢rvic¢s raih¢r than cash or anoih¢r financial insirumeni. Legal status Raw Material Music and Media Education Limited is a company limiied by guarantee and has no share capital. It Is registered with the Charity Comtlli55ion for England and Walcs and th¢ charity regiL5trdtion number is 1020066. 16- RAW MATERIAL MUSIC AND MEDIA EDUCATION LIMITED (A company limited by guarantee) MANAGEMENT INFORMATION YEAR ENDED 31 MARCH 2022 VOLUNTARY INCOME UDr¢strirted Restrir¢ed Tot41 Funds Total Funds Funds Futtds 2022 2021 Cprants receivable Siaiuiory grdnis Grani making trusts Donation 119J91 44.406 163.797 182.615 3278 119,391 127.782 2.706 3278 150,919 198,771 349,690 249.879 INVESTMENT INCOME Unrestricted Total Funds Total Funds Funds 2022 2021 Bank interest receivable 56 INCOMINC. RESOURCES FROM CHARITABLE ACTIVITIES Unresiri¢t¢d Re$¢ri¢¢￿ Tol41 Fund$ Toial Funds FuTrds Funds 2022 2021 Furlough grant Sales and hire of services 3.602 3.460 18.123 18.123 18.123 18.123 7,062 COSTS OF CHARITABLE AcfiviTIES BY FUND TYPE Unreslricied Restricted Total Funds Total Funds Fund5 Funds 2022 2021 General activities 120.924 199.787 320.711 219,701 GOVERNANCE COSTS Unrestricted Total Funds Total Funds Funds 2022 2021 Wages and salaries Accountancy fees Trustees. training Oiher governance costs 12Jll 3,600 310 .779 12Jll 3,600 310 1.779 6,761 2,940 55) 18.000 18,000 10,254 17- RAW MATERIAL MUSIC AND MEDIA EDUCATION LIMITED (A company limited by guarantee) MANAGEMENT INFORMATION YEAR ENDED 31 MARCH 2022 TAXATION The charitable cornpan). is a registered charity and is exempt from tL¥Ation under the provisions of ihe Income and Corporation Taxes Act 1988. STAFF COSTS AND EMOLUMENTS Total sl*fT ¢osts w¢r¢ *s follows: 2022 2021 WagT¢S and salarics Social seeurit>' cosis Pension coniribution 133.659 6.047 1222 114.778 6,034 140,928 121,9i3 Particulars of emplo)'ees: The averagje number of employees during ihe year. calculaied on the basis of full-time equivalents. was as follows.. 2022 2021 N<) Number of sia Key Management Personnel The charity considers thai its key siaff is the Chief Execuiive Officer who was paid £41.37612021'. £29.501 } including employer s national insurance contributions. ACCOUNTANCY FEES Accountanc>' fee5 of £3.6(X) (20?1: £2,71M)) related io the independent examination of the aecounts and £Nil12021.. £240) to other SUPKKTrrt Wsts. 18- RAW MATERIAL MUSIC AND MEDIA EDUCATION LIMITED (A company limited by guarantee) MANAGEMENT INFORMATION YEAR ENDED 31 MARCH 2022 10. TANGIBLE ASSETS Freehold propertv Computer equipment Total COST OR VALUATION At l April 2021 Net gyains or losses from fair Yalue adjuslmenls Addiiions 825,OIKb 13,IH2 838,042 10.637 10.637 Ai 31 March 2022 23.679 848.679 DEPRECIATION At l April 2021 Charg¢ 7J92 7.892 Ai 31 March ?022 7892 7.892 NET BOOK VALUE At 31 March 2022 825,0 15,787 840,787 At 31 March 2021 825.000 13.042 838.042 The trustees app)inied a fimi of Chartered Surveyors in January, 2020 10 provide an independent, current fair value of the propert}. in accordance wilh ihe methodologies and base5 for estlinalion sei oiil in the prof¢sSLonal standards of the Roval Insiitution of Charter¢d SuTh'¢yors. Th¢ prop¢rty is shown in th¢ balan¢¢ sh¢ei at this valu¢ of £8?.5.000 as th¢ trustees do not bcliewe th¢ walue has significantly changed from the last valualion. I I. DF.BTORS 2022 2021 Other debtors 12 J95 15.437 15,437 12. CREDITORS: Amounts falling due within one !'e*r 2022 2021 Trdde creditors PA YE and social security Other creditor5 Deferred income 6,382 3.509 5300 6,894 34,750 43,712 48,026 Deferred income brought forward of £34.750 was released in the l'ear and £32.50? was deferred during the y'ear. Deferred income relates to grnnts from Garfield Wesion (music and Mental health pro&Trammel and Q Trust {sUPPOrtin& pro¥rarntne acti&ities for l'oung people). 19- RAW MATERIAL MUSIC AND MEDIA EDUCATION LIMITED (A company limited by guarantee) MANAGEMENT INFORMATION YEAR ENDED 31 MARCH 2022 13. RESTRICTED FUNDS General Fixed asset funds fund Totgl At l April ?0? I Incoming resources Outgoing resources Transl¢r b¢tw¢¢n ful 13.042 10.637 {7192) 13.042 198,771 (199,787) 3,761 188.134 (191095) 3,761 At i l March 2022 15,787 IDroming resourees Resour¢e5 expended Net incoming resources Comic Relief Walcoll loundalion Lambeih Council Youih Musi MdLidLslLy Charily Cil>' Bridgtre Arts Council BarinbT Foundation & Garfield Total funds 30.IMIO 24,460 8,44J 17,460 30.177 17.800 44,406 (30.IMkO) (24.460) (8.443) (17.460) 136.177) (17,800) (44,406) (20.025) 198.771 (198.771) PURPOSES OF RES'I'RIC-I-ED FUNDS Comic Relief- Music and Menlal Health Walcott Foundation- Progression Roules and Employment and Music and Menlal Health Lamb¢th Coun¢il - Digital Aid Funding and School Holiday Progrnmm¢ funding Youth Music- YounbT People Training and Skills tkvelopment Maudesley Charitj. Music and Mental Health City Bridgc- In R¢ach Hospilal Outrcach Music Sc5510nS Arts CoLincil- New approachc5 and organisational d¢&clopm¢nt Baring Foundation- Raw Sounds -20- RAW MATERIAL MUSIC AND MEDIA EDUCATION LIMITED (A company limited by guarantee) MANAGEMENT INFORMATION YEAR ENDED 31 MARCH 2022 14. UNRESTRICTED FUNDS ReVg1￿811ti resen'e Designated funds General funds At l April 2021 Nei incon)ing resources for the >'ear Designated funds Trdnsfer betw¢¢n fund¥ 825.1)1)o 14,000 89,490 30.139 (2,000) (3.761) 2,000 At 31 March 2022 16.OIM 113.868 PURPOSE OF DESIGNATED FUNDS The Management Commiiiee has designaied funds of £16.OIK) (2021: £14,000} for ¢ss¢niial ¢apiial i¢em r¢pla¢em¢ni. 15. ANALYSIS OF NET ASSETS BETWEEN FUNDS Restricted funds UnTt$tricted funds Tot81 Tang7ible fixed assets Curr¢ni ass¢is Creditors du¢ within one year Total 82S.000 173.580 {43.712) 840,787 (43.712) 970,6SS 1 S.787 9$4,868 16. COMPANY LIMITF.D BY GUARANTF.E Raw Material Music and Media Educaiion Limiied is company limiled by Guardnlee and nol having any 5har¢ capilal. 17. TRANSACTIONS WITH TRUSTEES AND RELATED PARTIES None of the Trustee5 (or any ￿rSon5 ronn¢rt￿ with th¢m) r¢o¢ivd any remuneration during the year {2021- Nil}. Durin¥ the year, four trustees were paid £830 (2021: £Nil) for consultancy. and facilitation services. 21-