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 2024

RAW MATERIAL MUSIC AND MEDIA EDUCATION LIMITED
(A company limited by guarantee)
FINANCIAL STATEMENTS
YEAR ENDED 31 MARCH 2024
CONTENTS
PAGE
Reference and administrative deiails
Trustees, Annual Report (including Directors, Report)
Independent Examiner's Report
10
Statement of Financial Activities (incorporating the
income and cxpenditurc account)
Balance sheet
12
Statement of Cash Flows
14
Notes to the Financial Statements
15

RAW MATERIAL MUSIC AND MEDIA EDUCATION LIMITED
(A company limited by guarantee)
REFERENCE AND ADMINISTRATIVE DETAILS
YEAR ENDED 31 MARCH 2024
Registered charity name
Raw Material Music and Media Education Limited
Address
2 Robsart Street.
London
SW9 ODJ
Charity registration number
1020066
Company registration number
2807620
Registered office
2nd Floor Butler House
177-178 Tottenham Court Road
London
WIT7AF
Independent Examiner
Jeffrey Lishak FCA
Jones & Partners Limited
2nd Floor Butler House
177-178 Tottenham Court Road
London
WIT7AF

RAW MATERIAL MUSIC AND MEDIA EDUCATION LIMITED
(A company limited by guarantee)
TRUSTEES, ANNUAL REPORT (INCLUDING DIRECTORS, REPORT)
YEAR ENDED 31 MARCH 2024
The Trustees of Raw Material Music and Media Education Limited ("Raw Material") are pleased to
present their annual report w ith the financial statements of the charity for the year ended 31 st March
2024. The trustees have adopted the provisions of the Statement of Recommended Practice (SORP)
"Accounting and Reporting by Charities ' in preparing the annual report and financial statements of the
charity.
The financial statements have been prepared in accordance with the accounting policies set out in notes
to th¢ accounts and comply with the charity. s governing document. the Charities Act 2011 and
Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities
preparing their accounts in accordance M'ith the Financial Reporting Standard applicable in the UK and
Republic of Ireland (FRS 102).
This report provides an overview of the activities. achievements, and financial perforn]ance during the
year. W¢ would like to express our gratitude to all our funders and supporters, volunteers, staff, and
partners who have contributed to the success of Raw Material's activity this year.
Purposes and Aims
Our charity's purposes as set out in the objects contained in the company's memorandum of association
are to:
promote education and training in the creative and expressive arts and media of every description
(including but w'ithout prejudice lo ihe generality of the foregoing, music, photography, journalism,
films and ￿'Ide0, radio, theatre, dance. sculpture. visual arts, graphic and J-dimensional design and
int"ormation technology);
advance the spiritual education physical cultural and social welfare ofyoung people and in particular
those living in inner areas, so that they may grow to maturity as individuals and members of society.
do all such other things as are incidental to the attainment of the objects of the Charity or any of
them.
Our aims fully reflect the purposes that the charity was set up to further.
EXECUTIVE SUMMARY
Raw Material normally operates out of a purpose-builL three-story building in Lambeth, South London,
which houses two studios, a computer suite. DJ and music production equipment, and a
perforn]ance/workshop space. During the year 20?3-?4 our building was undergoing a refurbishment
project and we operated Raw Material"s programmes from a temporary location of St Vincent's Centr¢
Brixton. Raw Material's dedicated staff team consists of 4 males and 5 females. with diverse age groups
and ethnic backgrounds representative of our diverse South London communities.
Mission and Objectives:
Raw Material is a creative arts and music centrc for young people and adults. Our mission is to..
'make a credlive life a tangible reality,
by nurturing raw talent, catalvsing creative d¢velopmcnL and supporting mental health through industy-
standard music and media pathways.

RAW MATERIAL MUSIC AND MEDIA EDUCATION LIMITED
(A company limited by guarantee)
TRUSTEES, ANNUAL REPORT (INCLUDING DIRECTORS, REPORT)
YEAR ENDED 31 MARCH 2024
Our objectiv¢s include improving the lives of young people and adults. offering creative opportunities
to support positive mental health, iargeting underrepresented ￿0Up5, and becoming a model of inclusion
and diversity Nvithin our practice. Our programmes are designed to be inclusive and accessible to
individuals from dii'erse backgrounds, including socio<conomically challenged groups, African,
African-caribbean, Asian, and other mi.xed heritage communities. voung and emerging artists aged 16-
30, and young people aged I1-?5. Through our Arts and Wellbeing programme, we offer creative and
therapeutic activities for individuals experiencing mental ill health.
Our Core Values:
Raw Material has five core values:
Responsive
Collaborative
Enterprising
Playful
Reflective
MAIN ACTIVITIES IN 2023-2024
Through our Arts and Wellbeing PTogramme. Ive offer creatiiie and therapeutic activities for individuals
16+ experiencing mental ill health, and career dei'elopment programmes for voung creatives aged 16-
30. Raw Material nornially operates out of a purpose-builL three-story building in Lambeth, South
London, which houses two studios. a computer suite. DJ and music production equipmenL and a
perfonnance/workshop space.
Achievements and Perforniance
Main Achievements
During the reporting period, we accomplished the following activities and achieved notable milestones..
Inclusive Programmes: sessions and participants we delivered a total of 585 sessions, amounting
to 671 hours of engagement. These sessions catered to a mixed age group (20+), as well as
specifically tailored sessions for young people aged 11-19. In total, we reached 305 participants,
with 243 in the 20+ age group and 69 in the 0-19 age group.
Programme Highlights: we conducted various programmes, including Raw Talent, Studio Sessions,
In the Mix, BeatLab, Guitar Sessions. Vibe Alliance, Raw. Vibrations, Djing, Mindful Music, The
Voice, Co-Lab, Young Producers, Programming Committee. and supported two of our freelanc¢
artists to make their own ACE application to deliver In Reach sessions in hospitals.
Eiients and Perfonnances: we organised I I live events and one exhibition of Miork "Humans of
Raw"
photos of our community members to celebrate our 30th birthday year. These events
included 128 performers from our community and were attended by 485 audience members.
Partnerships- we maintained partnerships with several arts organisations, including Grounded
Sounds, Spiral Skills, VEVO, Cloud X, SOFAR, Youthsayers, Bethlem Gallery, London Arts &
Health, Arts & Health Hub. We del'eloped a new and fruitful partnership with BTlXton House
Theatre who hosted our Autumn end of tenn event.
Artists Represent Recovery Network: this pioneering project in partnership with London Arts and
Health, and the Arts and Health Hub, supported l O artists from Global Majority backgrounds who
wish to develop their careers as arts and health practitioners. The programme attracted support from
the Arts Council and th¢ GLA and completed in ?0?3-24 and is likely to run again in 9094-25. It
has been presented at various Creative Health conferences and a similar inodel is now running in
Greater Manchester.

RAW MATERIAL MUSIC AND MEDIA EDUCATION LIMITED
(A company limited by guarantee)
TRUSTEES, ANNUAL REPORT (INCLUDING DIRECTORS, REPORT)
YEAR ENDED 31 MARCH 2024
Our Impact:
Our evaluations, which include tutor debriefs, pre and post course participant surveys, feedback and
case studies, show that all our participants experience wsitive improvements in their mental health and
improved wellbeing, increased confidence and a sense of achievement gained as they progress their
learning over time. Creative self-expression alloiis them to explore their feelings and life issues, whilst
engaging them in activities that interesl and bring them joy. Participant wellbeing is bolstered by
opportunities to build and engage with supportive peer and creatiiie netsi:orks, and through being
'listened to and having a 'valued voice, where they can shape their own creative learning experiences
(through personal goal setting, co-design and collaboralion) and contribute collectively to our
programme decision making as part of our Programme Committees (see belov¥'). Structured and
unstructured learning Th'ithin a safe and supportive environment, alongside opportunities to participate
in live peTforniances and share and celebrate their ivork and achievements: facilitate participants,
development of a broad range of creative. technical, digital. performance, personal and life skills-
musicianship, independent and collaborative working, communication and listening skills, music
production, sound engineering, music theory. song writing. music and media software and technology
skills.
In 2023-24 we focused more specifically on our impact regarding individual wellbeing. From 2023-24
data we found our programmes:
Alleviatedlgreatly alleviated sympioms of anxiety for 69% of participants aged 16-25 and 64 % aged
25+
Alleviatedlgrcatly alleviated symptoms of depression for 380/0 of participants aged 16-25 and 45 %
aged 25+
Alleviatedlgreatly alleviated feelings of loneliness or isolation for 45 /0 of participants aged 16-25
and 64% aged 95+
Raised levels of confidence for 70010 of participants aged l &?5 and 550/0 aged 25+
840/0 of all participants reported feeling a sense of owmership in Raw Material's direction, and that
their opinions and ideas wer¢ valued.
In addition
91 0/0 reported an increased sense of pride and ownership in their work
550/0 reported increased development of collaborative music skills (i.e. playing in group and creating
with others)
100 /0 said they feel part of Raw Material's creative community.
"Raw hds helped me lo survive depression and be social again."
Leroy, adult member
The courses we run in house are supplemented by external. mentoring and progression opportunities.
We offered 3 internal opportunities for community members to progress with their music making, and
13 with extemal partners. Additional educational training opportunities were provided to 24 of our
members, I with volunteering and I with paid employment. These types of opportunities might include
visits to external music orartistic events, or industry shoiNcases such as Rumble in the Jungle (immersive
thealre show) or The Great Escape (music industry sho￿.CaSe). Additional artistic opportunities were
given to 64 of our members folloH'"ing their course or project V*'ith us e.g. perforniance or song

RAW MATERIAL MUSIC AND MEDIA EDUCATION LIMITED
(A company limited by guarantee)
TRUSTEES, ANNUAL REPORT (INCLUDING DIRECTORS, REPORT)
YEAR ENDED 31 MARCH 2024
distribution, commissions and national niedia opportunities sucli as perforn)ing on Capital Radio as part
of the Make Some Noise campaign.
Performance of fundraising aclivities
Raw Material engaged with several new funders in 2023-24 and re-engaged with Previous fund¢rs.
We secured £99,903 from Youth Music in partnership with Grounded Sounds as part of their
Catalyst programme for which £60,347 is allocated to Raiv Material. This is a three year fund 2023-
25.
We were selected as one of 40 charities to be supported by the Global Foundation's "Make Some
Noise, campaign. Aw'arded £72k to be split over years ?0?4-25 and 2025-26, to support our young
people's programmes.
The Q Trust - a local family trust who had supported Raw Material since 2020, comm itted to thre¢
years of support from ?3_26 at £25k per annum.
Bernard Neville Estate
aTharded £70k - £50k towards our Raw Sounds programme and £20k
towards Capital Development for FY 2024-25.
Other significant funding was brought in specifically to support the Capital project, this included:
The Mark Benevolent Fund - Awarded £90,078.
Edward Gostling Foundation - Aivardcd £?5,000 for FY 2024-25.
The London Marathon Fund - Awarded £35 ?9? (this also includes some programme funding) for
FY 2024-25.
We continued our multi-year support from Arts Council England, the Tudor Trust and the Prudence
Trust during this period.
FINANCE
A summary of this year's results is given on page I l of the accounts. We are pleased to report a surplus
of £617:445. The majority of this relates to restricted funding to be spent on the capital project. The
unrestricted sutylus is £47,8?5. At 31 March ?0?4 the company had reserves of £1,586,2J2 of which
£825.000 is fair value reserve. Financially, the organisation's position remains stable and ne￿, funds
were secured.
Capital Development
Raw Material norn]ally operates out of a building funded by a capital grant from ACE in 1999. Raw
Material was delighted to be awarded major capital grants in 202? and 2023 of almost £1 m from Arts
Council England: LB Lambeth and the GLA, with the aim of increasing access. improving functionality
and environmental and financial effici¢ncies, and developing existing spacesto become multi-functional
with flexible tech facilities and co-V¥orking space. This ivill increase the organisational reach to more
emerging creatives and young entrepreneurs and incr&qse capacity for oversubscribed creative
programmes.
The capital development project proceeded during the year 2023-24 and continues to do so. The Board's
Building Sub Committee of five (now increased to six) Trustees met on a regular basis to ov¢rse¢ the
development project and continues to do so. A legal challenge ￿1th a neighbouring landlord halted
-) w'hich was eventually resolved soine weeks later with an agreed change to
progress at the end of ?0?"
the design. This increased the budget and added further delay. A procurement process took place to

RAW MATERIAL MUSIC AND MEDIA EDUCATION LIMITED
(A company limited by guarantee)
TRUSTEES, ANNUAL REPORT (INCLUDING DIRECTORS, REPORT)
YEAR ENDED 31 MARCH 2024
select a building contractor and the firn] Cuttle Ltd M ere appointed and have now started works with a
projected end date of NoN'emb¢r 2024. At the point of signing th¢ contract full funding had been secured
for the budgeted cost of the development including a contingency of 8.5 %. In addition lo the three
funders mentioned above, funds have been secured from a number of other sources which will be
received in FY 2024-25. Trustees have also agreed that up to £25k resenies (including the £16k
designated reserves) can be used for funding the capital project.
During 2023-24 programmes w¢r¢ deliver￿ from St Vincenvs Centrc in Brixton with relatively little
change to operations.
Reserves policy
Thc reserves policy agreed by the Trustees 15 to have fre¢ reseni¢s equivalent to six months operating
costs, such costs not to include specific projects benefiting from restricted grants. Additionally, there is
a designated fund of £16k for major capital maintenance which trustees have agreed will be used on the
capital project.
IIIAINAGEMEINT
Raw Material's CEO and Programmes Team continued to lead the Progrdmme Delivery supported by a
largely part-time team leading on Marketing, Communications, Finance and Administration and
Business Development.
RISKS
A risk registcr was created by th¢ Risk Sub Committee (now incorporated into the Finance, Audit and
Risk Sub Committee) set up to look specifically at risk for the charitv. This is reviewed quarterly by
the Finance, Audit and Risk Sub Committee and is held and updated annually by the CEO and the Board.
Additionally. a separate risk register has been set up for the capital project which is updated at th¢
Building Sub Committee meetings.
GOVERNANCE
Appointment of trustees
Trustees have been recruited through a range of routes. The Charity has used advertisements and
relevant professional recommendations. A broad approach is used to recruit new Trustees rather than
relying on personal recommendations. The Trustee role is Outlined in the Trustee Induction Pack.
Appointment of new Trustees is a decision for the current Board.
Trustees
The Board typically meets between four and six times a year. Board meetings are held either in person
or online. In addition to fulfilling our statutory obligations, the Board, led by Jide Ashimi and Alex
Ritchie as Co-chairs, continues to lead the organisation and ihe Trustees also act as advocales for the
Charity. A number of Trustees were able to support the organisation in different wavs throughout the
year including mentorship, facilitation. input into the access requirements for the new building design
and participation in the Programming Committees. The Trustees also participated in an ANN'ay Day
where they spent time on strategic w'ork on the organisation's updated mission and values, governance,
and team-building exercises.

RAW MATERIAL MUSIC AND MEDIA EDUCATION LIMITED
(A company limited by guarantee)
TRUSTEES, ANNUAL REPORT (INCLUDING DIRECTORS, REPORT)
YEAR ENDED 31 MARCH 2024
None of the Trustees has any beneficial interest in the company. The Trustees are the members of the
company and guarantee to contribute £ l O in the ei'ent of a ivinding up.
The Trustees are:
T Altius
J Ashimi
S Denton
C De Wolff (appointed June ?0?4)
K Mills (appointed March 2024)
S J Phillips
A Ritchie
G Smith
Y Sode
S Choudhry (resigned September 2024)
E Mtungwazi (resigned March ?024)
H Thomas (resigned March ?0?4)
The Chief Executive Officer is Ms R Nelken.
The Charity is a company limited by guarantee, governed by its Memorandum and Articles of
Association last updated on 16 March 2022.
Signed by order of the trustees
J Ashimi
Date.. 24 September 2024

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 2024
I report on the financial statements of the charity for the year ended 31 March 2024 set out on pages I I
RESPECTIVE RESPONSIBILITIES OF TRUSTEES AND INDEPENDENT EXAMINER
The Trustees, who are also the directors of the company for the purposes of company law, are
responsible for the preparation of the financial statements. The Trustees consider that an audit is not
required for ihis year under section 144(?) of the Charilies Act 2011 (the Act) and that an independent
exam ination is needed.
Having satisfied myself that the company is not subject to audit und¢T charity or company law and is
eligible for independent examination, it is my responsibility to:
examine ihe financial statements under seclion 145 of the Act:
follo￿, the procedures laid down in the General Directions given by the Charity Commission
under section 145(iXb) of the Act-
state w'hether particular matters have come to my attention.
BASIS OF INDEPEINDEINT EXAMIINER'S STATEMEIYT
My examination was carried out in accordance ivith the General Directions given by the c.harities
Commissioners. An examination includes a review of the accounling records kept by the charity and a
comparison of the accounts presented with those records. It also includes consideration of any unusual
items or dI￿105UreS in the accounts and seeking explanations from you as trustees concerning any such
matters. The procedures undertaken do not provide all the evidence that would be required in an audit
and, consequently, no opinion is given as to whether the financial statements present a "true and fair
view,, and the report is limited to those mallers set out in the statement below.
INDEPEINDENT ELKMIINER'S STATEMENT
In connection with my examination, no matter has come to my attention:
(i)
hich gives me reasonable cause to beliei'e that in any material respect the requirements:
(a)
to keep accounting records in accordance with section 386 of the Companies Act 2006;
and
to prepare financial statements which accord with the accounting records comply with
the accounting requirements of section 396 of the Companies Act ?006 and with the
methods and principles of the Statement of Recommended Practic¢: Accounting and
Reporting by Charities have not been met: or
to %￿hleh. in mv opinion, attention should be drdwn in order to enable a proper understanding of
the accounts to be reached.
(2)
Jeffrey Lishak FCA
Jones & Partners Limited
Chart¢r¢d Accountants
2nd Floor Butler House
177-178 Tottenham Court Road
London WIT 7AF
24110124
Date:
10-

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 2024
Unrestricted
Funds
Restricted
Funds
Total Funds
2024
Total Funds
2023
Note
IINCOMIING RESOURCES
Incoming resources from
generating funds:
Voluntary income
Investment income
Incoming resources from
chaTitable activities
211596
2,612
731J21
942,917
2,612
309,745
700
22259
1,000
23259
43,330
TOTAL INCOMING
RESOURCES
236,467
732J21
968,788
353,775
RESOURCES EXPENDED
Charitable activities
Governance costs
(165.001)
(23,641)
(162,701)
(327,702)
(23,641)
(334,876)
(20,767)
TOTAL RESOURCES
EXPENDED
(188,642)
(162.701)
(351 J43)
(355,643)
NET
INCOMING/(OUTGOING)
RESOURCES BEFORE
TIL4NSFERS
47025
569.620
617,445
(1,868)
Transfers belween funds
NET INCOME FOR THE
YEAR
47025
569,620
617,445
(1,868)
RECONCILIATION OF
FUNDS
Total funds brought fO￿ard
929269
39,518
968,787
970,655
TOTAL FUNDS CARRIED
FORWARD
977,094
609,138
1,586232
968,787
The notes on page5 15 to 21 form part of these financial statements.
11

RAW MATERIAL MUSIC AND MEDIA EDUCATION LIMITED
(A company limited by guarantee)
BALANCE SHEET
31 MARCH 2024
2024
2023
Note
FIXED ASSETS
Tangible assets
10
955,765
835,045
CURRENT ASSETS
Debtors
Cash at bank and in hand
11
306,288
427,031
4,323
146,513
733J19
150,836
CREDITORS: Amounts falling due Ivithin one
year
12
(102,852)
(17,094)
NET CURRENT ASSETS
630,467
133,742
TOTAL ASSETS LESS CURRENT LIABILITIES
1586232
968,787
NET ASSETS
1586,232
968,787
FUNDS
Restricted funds
Unrestricted funds
General funds
Designaled funds
Fair value res¢rv¢
14
15
609,138
39,518
136,094
16,000
825,000
88,?69
16,000
8?5,000
977,094
929,269
TOTAL FUNDS
1586232
968,787
The notes on page5 15 to 21 form part of these financial statements.
12-

RAW MATERIAL MUSIC AND MEDIA EDUCATION LIMITED
(A company limited by guarantee)
BALANCE SHEET
31 MARCH 2024
These financial statements have been prepared in accordance with the provisions applicable to
companies subject to th¢ small companie5 regin]e.
For the financial year ended 31 March 2024: the charitable company is entitled to exemption from audit
under Section 477 of the Companies Act ?006. No member of the charitable companv has deposited a
notice. pursuant to section 476, requiring an audit of these financial statements under the requirements
of the Companies Act 9006.
The trustees acknowledge their responsibilities for ensuring ihat the charitable company keeps proper
accounting records iyhich comply ￿ ith section J86 of the Companies Act •006 and preparing financial
statements iihich give a true and fair view of the state of affairs of the charitable companv as at the end
of the financial year and of its surplus or deficii for the financial year in accordance with the
requirements of section 394 and 395. and which othenvise comply with the requirements of the
Companies Act 2006 relating to accounts, so far as applicable to the charitable company.
These financial statements Th'ere approved by the members of the committee on 24 September 2024 and
are signed on their behalf by:
J Ashimi
Company registration number: 2807620
The notes on page5 15 to 22 form part of these financial statements.
13-

RAW MATERIAL MUSIC AND MEDIA EDUCATION LIMITED
(A company limited by guarantee)
STATEMENT OF CASH FLOWS
31 MARCH 2024
2024
2023
Note
Cash flow from operating activities
Net cash flow from operating activities
19
411,862
(7,040)
Net eash flow from operating activities
411,862
(7,040)
Cash flow from investing activities
Payments to acquire tangible fixed assets
Interest received
(133,956)
2,612
(8,132)
700
Net cash flow from investing actii'ities
(131J44)
(7,432)
Net increase l (decrease) in cash and cash equivalents
280518
(14,472)
Casb and cash equivalellts at start date l April 2023
146,513
160,985
Cash and cash equivalents at end date 31 March 2024
427,031
146.513
Cash and cash equivalents consists of:
Cash at bank and in hand
427,031
146,513
Cash and cash equivalents at end date 31 March 2024
427,031
146,513
The notes on page5 15 to 22 form part of these financial statements.
14-

RAW MATERIAL MUSIC AND MEDIA EDUCATION LIMITED
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 MARCH 2024
ACCOUNTING POLICIES
Basis of accounting
These accounts have been prepared under the historical cost convention with items recognised at
ost or transaction value unless otherwise stated in the relevant note(s) to these accounts. Th¢
financial statements are presented in sterling which is the functional currency of the charity and
rounded to the nearest £.
The financial statements have been prepared in accordance with Statement of Recommended
Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the
Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS
102), the Charities Act 201 I, the Companies Act 2006 and UK Generally Accepted Accounting
Practice.
The financial statements have been prepared on a going concern basis as the trustees believe that
no material uncertainties exist. Th¢ trustees have considered the level of funds held and the
expected level of income and expenditure for 12 months from authorising these financial
statements. The budgeted income and expenditure is sufficient with the level of reserves for the
harity to be able to continue as a going concern.
Funds structure
Restricted funds are to b¢ used for specific purposes as laid doiwn b! the donor. Expenditure which
meets these criteria is charged to the fund, together with a fair allocation of management and
support costs.
Unrestricted funds are donations and other incoming resources receivable or generated for the
objects of the charity without further specified purpose and are available as general funds.
Designated funds are unrestricted funds earniarked by the trustees for particular purposes.
Incoming resources
Voluntary income including donations, gifts and legacies and grants that Provide core funding or
are of general nature are recognised where there is entitlement, certainty of receipt and the amount
can be measured with sufficient reliability. Such income is only deferred when:
The donor specifies that the grant or donation must only be used in future accounting periods.
or
The donor has impos¢d conditions which must be met before the charity has unconditional
entiilement.
Resources expensed
Resources expended are recognised in thc period in which they are incurred. Resources expended
include attributable VAT which cannot be recovered.
Resources exp¢nd¢d are allocated to the particular activity where the cost relates directly to that
activity.
15-

RAW MATERIAL MUSIC AND MEDIA EDUCATION LIMITED
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 MARCH 2024
ACCOUNTING POLICIES (continued)
Governance costs
Governance costs include costs of the preparation of statutory accounts, the costs of trustee
meetings and cost of any legal advice to trustees on governance or constitutional matters.
Tangible fixed assets and depretiation
Tangible fixed assets are stated at historical cost or valuation less accumulated depreciation.
Historical cost includes expenditure that is directly attributable to bringing the asset to the location
and condition necessary for it to be capable of operating in the manner intended by management.
Depreciation is provided on all tangible fixed assets at rates calculated to write off the cost over
the expected useful economic lives.
Depreciation is not charged on fr¢ehold property.
Computer Equipment- 50% straight line basis
Studio Equipment
50% straight line basis
Furniture & Fixtures
250/0 Straight line basis
Pensions
Contributions towards staff defined contribution personal pensions are charged to the Statement of
Financial Activities as theN' become pavable. The charitv has no liability beyond its contributions
and paying across the deductions for the employees share of contributions.
Financial Instruments
The Charity only holds basic Financial Instrnments. The financial assets and financial liabilities of
the Charity are as follows-
Debtors - trade and other debtors (including accrned income) are basic financial instruments and
are debt instruments measured at amortIs￿ cost as detailed in Note I l. Prepayments are not
financial instruments.
Cash at bank - is classified as a basic financial instrument and is measured at face value.
Liabilitics - trade creditors, accruals and other creditors will be classified as financial instruments,
and arc measured at amortised cost as detailed in Note 12. Deferred income is not deemed to be a
financial liability, as in the cash settlement has already taken place and there is simply an obligation
to deliver charitable services rather than cash or another financial instrument.
Legal status
Raw Material Music and Media Education Limited is a company limited by guarantee and has no
share capital. It is r¢gist¢red ￿'1th the Charity Commission for England and Wales and the charity
regislration number is 1020066.
16-

RAW MATERIAL MUSIC AND MEDIA EDUCATION LIMITED
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 MARCH 2024
VOLUNTARY INCOME
Unrestricted Restricted Total Funds
Funds
Fund5
2024
Total Funds
2023
Grants receivable
Statutory grants
Grant making trusts
Donation
157,791
39205
14,600
112,109
619,106
106
269,900
658Jll
14,706
119,391
178.721
11,633
211,596
731 J21
942,917
309.745
INVESTMENT INCOME
Unrestricted Total Funds Total Funds
Funds
2024
2023
Bank interest receivable
2,612
2,612
700
INCOMING RESOURCES FROM CHARITABLE ACTIVITIES
Unrestricted Restricted Total Funds Total Funds
Funds
Funds
2024
2023
Sales and hire of services
22259
1,000
23,259
43,330
22259
1,000
23,259
43,330
COSTS OF CHARITABLE ACTIVITIES BY FUND TYPE
Unrestricted
Funds
Restricted Total Funds
Funds
2024
Total Funds
2023
General activities
165,001
162,701
327,702
334,876
GOVERNANCE COSTS
Unrestricted Total Funds Total Funds
Funds
2024
2023
Wages and salaries
Accountancy fees
Trustees training
Other governance costs
14,872
4,800
1,627
2J42
14,872
4,800
1,627
2J42
13,520
3,600
1,140
2,507
23,641
23,641
20,767
17-

RAW MATERIAL MUSIC AND MEDIA EDUCATION LIMITED
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 MARCH 2024
TAXATION
The charitable compan)i is a registered charittF and is exempt from taxation under the provisions
of the Income and Corporation Taxes Act 1988.
STAFF COSTS AIYD EMOLUMENTS
Total staff costs were as follows:
2024
2023
Wages and salaries
Social securitv costs
Pension contribution
198,825
12254
1,441
175,603
9,286
1,194
212,520
186,083
Particulars of employees:
The averag¢ number of employees during the year, calculated on the basis of full-time equivalents,
was as follows:
2024
2023
Number of staff
Key Management Personnel
The charity considers that its key staff is the Chief Executive Officer who was paid £47,107 (2023..
£45,067) including employer's national insurance contributions.
ACCOUNTANCY FEES
Accountancy fees of £4,800 (?0?3: £3,600) related to the independent examination of the accounts
and £Nil (2023: £Nil} to other support costs.
18-

RAW MATERIAL MUSIC AND MEDIA EDUCATION LIMITED
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 MARCH 2024
10. TANGIBLE ASSETS
Freehold
Freehold Computer
Studio
Furniture
property improTrements equipment equipment & Fixture
Total
COST OR VALUATION
At l April 2093
Additions
825,000
10,678
14,554
16,623
894
4,510
606
856,811
133,956
117,902
At 31 March 2024
825,000
117,902
25232
17,517
5,116
990,767
DEPRECIATION
At l April 2023
Charge
7,749
8,709
13,077
3J24
940
1,203
21,766
13,236
At 31 March 2024
16,458
16,401
2,143
35,002
NET BOOK VALUE
At 31 March 2024
825,000
117,902
8,774
1,116
2,973
955,765
At 31 March 2023
825,000
2,929
3,546
3,570
835,045
The trustees appointed a firni of Chartered Surveyors in January 2020 to provide an independent,
current fair value of the property in accordance with the methodologies and bases for estimation
set out in the professional standards of the Royal Institution of Chartered Surveyors. The property
is currently undergoing a renovation. The property is shown in the balance sheet at the January
2020 valualion of £825,000.
11. DEBTORS
2024
2023
Trade debtors
Prepayments
299,770
6518
4,323
306388
4,323
19-

RAW MATERIAL MUSIC AND MEDIA EDUCATION LIMITED
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 MARCH 2024
12. CREDITORS: Amounts falling due within one year
2024
2023
Trade creditors
PAYE and social security
Other creditors
Deferred income
7,550
4,839
6,661
83,802
5,704
4,627
6,763
102,852
17,094
13. DEFERRED INCOME
Total
At l April 2023
Additions during the year
Amounts released to income
83,802
At 31 March 2024
83,802
Deferred income relates to grants from Mark's Music Fund (£13,802) and Bernard Nevill Estate
(£70.000) and is in respect of projects to be delivered in the year to 31 March 2025.
14. RESTRICTED FUNDS
Restricted
funds
Total
At l April 2023
Incoming resources
Outgoing resources
Transfer between funds
39,518
732J21
(162,701)
39,-518
732,321
(162,701)
At 31 March 2024
609,138
609,138
Balance at I
April 2023
Incoming
resources
Resources
expended
Balance at 31
March 2024
Capital funds
Restricted funds
10,045
29,473
581,187
151,134
13236
149,465
577,996
31,142
Total funds
39,518
732J21
162,701
609,138
PURPOSES OF RESTRICTED FUNDS
Capital funding received from Arts Council England, Lambeth Council and Mark Benevolent
Fund was in respect of the capital project currenily being undertaken by the charity.
Restricted funds received from Dr Martens Foundation. Prudence Trust, SCOPS, Tudor Trust
and Youth Music ￿-¢re in respect of delivering projects in line ivith the charity's objectives.
-20-

RAW MATERIAL MUSIC AND MEDIA EDUCATION LIMITED
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 MARCH 2024
15. UNRESTRICTED FUNDS
Revaluation
Designated
funds
General
funds
Total
At l April 2023
Incoming resources
Outgoing resources
Transfer between funds
825,000
16,000
88269
929269
236,467
236,467
(188,642) (188,642)
At 31 March 2024
825,000
16,000
136,094
977,094
PURPOSE OF DESIGNATED FUNDS
The trustees have designat¢d funds of £16.000 (2023: £16,000) for essential capital item
replacement w'hich the trustees have agreed will be used on the capital project.
16. ANALYSIS OF NET ASSETS BETWEEN FUNDS
Restricted
funds
Unrestricted
funds
Total
Tangibl¢ fixed assets
Current assets
Creditors due within one year
Total
130,765
478J73
825,000
254,946
(102,852)
977,094
955,765
733J19
(102,852)
1,586232
609,138
17. CO￿ANy LIMITED BY GUARAiYfEE
Raw Material Music and Media Education Limited is company limited by Guarantee and not
having any share capital.
18. TIL4NSACTIONS WITH TRUSTEES AND RELATED PARTIES
Nonc of the Trustees (or any persons Connect￿ with them) received any remuneration during the
year (?0?3 - Nil).
During the year, three trustees were paid £4?5 (2023: £2,040) for consultancy and facilitation
services.
21

RAW MATERIAL MUSIC AND MEDIA EDUCATION LIMITED
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 MARCH 2024
19. RECONCILIATION OF NET INCOME l ff XPENDrruRE) TO NET CASH FLOW
FROM OPERATING ACTIVITIES
2024
2023
Net income / (expenditure) for year
617,445
(1,868)
Interest receil'able
Depreciation and impairnient of tsngible fixed assets
(Increase) / decrease in debtors
Increase / (decrease) in creditors
(2,612)
13,236
(301,965)
85,758
(700)
13,874
8,272
(26,618)
Net cash flow from operating activities
411,862
(7,040)
-22-