REGISTERED COMPANY NUMBER: 03039699 (England and Wales)
REGISTERED CHARITY NUMBER: 1045606
Report of the Trustees and
Unaudited Financial Statements
for the Year Ended 31 March 2024
for
Mercury Musical Developments.
Locke Williams Associates LLP
Chartered Accountants
clo Blackthorn House
St Pauls Square
Birmingham
West Midlands
B31RL

Mercury Musical Developments.
Contents of the Financial Ststements
for the Year Ended 31 March 2024
Page
Report of the Trustees
Independent Examinerfs Report
Statement of Financial Activities
Balance Sheet
Notes to the Financial Statements
9 to 18

Mercury Musical Developments.
Report of the Trustees
for the Year Ended 31 March 2024
The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their
reportwith the financial statements ofthe charity for the yearended 31 March 2024. 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 aims
Throughout the year the activities of the Charity were the advancing of education of the public by encouraging
the understanding, appreciation and development of musical theatre, whilst developing the craft of our
members in writing books, music and lyrics for the stage and lor screen. This is done via a variety of showcase
and developmental programmes
including Q&As, masterclasses. seminars, workshops, residencies and
galas with leading industry figures.
In setting the objectives and planning the activities of the Charity, the Trustees have given careful consideration
to the Charity Commission's general guidan￿ on public benefit.
The Charity relies upon subscriptions, donations and contributions from Arts Council England to provide its
major sources of income.
Public benefit
The Trustees, having regard to the public benefit guidance published by the Charities Commission, in
accordance with Section 17 of the Charities Act 2011. consider that the purpose of activities of the charity
satisfy the requirements of the public benefit as set out in Section 4 of the same Act.
Page 1

Mercury Musical Developments.
Report of the Trustees
for the Year Ended 31 March 2024
ACHIEVEMENT AND PERFORMANCE
Charitable activities
Mercury Musical Developments (MMD) entered the first year of a new funding period as an Arts Council
England National PortFolio Organisation, jointly as a consortium with Musical Theatre Nelwork (MTN}. As part
of the Arts Council's Transfer programme, in this year the organisations investigated the feasibility of moving
their main base outside of London.
BEAM2023
On 25th and 26th May, BEAM2023 was held at Oxford Playhouse. Excerpts from 29 new British musicals in
development were showcased in front of an audience of 300+ industry attendees over days, alongside
panel talks and discussions. 188 artists participated including writers, composers, performers and musicians,
representing regions and nations across the UK. The vast majority of shows have received interest from the
industry attendees
including from the National Theatre, Royal Shakespeare Company, Birmingham
Hippodrome, Soho Theatre and the National Theatre of Scotland.
Cameron Mackintosh Resident Com
oser scheme
Supported by the Cameron Mackintosh Foundation, this scheme gives a musical theatre writer the opportunity
to work with a producing theatre or theatre company for six months, assisting on or writing for productions,
learning from different departments and re￿Iving resources and time to develop their own production ideas.
In 2023 Dylan Townley was selected as Resident Composer for the Octagon Theatre in Bolton and his
placement began in the autumn. The National Theatre of Scotland and MAST Mayflower Studios in
Southampton were identified as the next host theatres for 2024.
Stiles + Drewe Best New Son
Prize 2023
The Best New Song Prize concert was held at The Other Palace, London. in November 2023 and celebrated
the songwriting talents of MMD'S members. Hosted by Rob Madge, the night featured an array of West End
talent and included the 12 finalist songs for the Prize, as well as songs to celebrate the successes recent new
British musicals.
Stiles + Drewe Mentorshi
Award 2023-24
This biennial award involves a yearofdevelopmental supportfor one musical, and in 2023'The Wife of Michael
Cleary, by Maz O'connor was selected as the recipient. Maz took part in a residential week in France in
September receiving mentoring from George Stiles and Anthony Drewe, and the first of two progress sharings
took place in November. The award will culminate in a full-length industry showcase in autumn 2024.
Writers Labs
Advanced Lab l and Lab11 are peer-led writing groups for MMD members, creating a friendly and supportive
space for writers to share their work and re￿1ve feedback. These meet either bi-monthly or monthly,
sometimes online and sometimes in-person.
ortin
female writers
Thanks to funding from the Jane Goodman Charitable Trust, in 2023 MMD launched the Jane Goodman
Writing Fund, an opportunity for femalelnon-binary wnters to apply for small grants to help develop their work
or skills, and the Mercury Writers Barn, a five-day retreat for female writers to find a supportive community,
enhan￿ their industry knowledge and learn useful skills tools for writing and navigating their careers.
Book Music & L
rics
MMD continues to work with and support Book. Music & Lyrics (BML), a craft-based educational programme
for musical theatre writers and the only one of its kind in the UK.
Website and Musicals Resource Hub
In quarter 4 MMD and MTN both launched new websites. designed by Sparrow Digital, as well as a joint
Musicals Resource Hub, ac￿Ssible to members of both organisations. The Resource Hub contains hundreds
of videos, audio recordings and articles that can be used as learning tools, including recordings from many
past events featuring distinguished industry speakers. In addition, the Hub provides discounts to shows,
archived listings of British new musicals and a pla￿ to apply for MMD and MTN opportunities. This online hub
provides enormous added benefit of membership.
Page 2

Mercury Musical Developments.
Report of the Trustees
for the Year Ended 31 March 2024
Member Events and Su
ort
Funded by the Lionel Bart Foundation. MMD runs a year-round programme of events for members including
open mic nights, masterclasses, panel talks, Q&A sessions, discounts on theatre tickets and members, socials.
Support for members includes legal advice, industry signposting and script-reading services.
uali
and Diversi
Polic
and Action Plan
Action points throughout 2023-24 included..
Ensuring that the judging pools for all opportunities included a diverse range of industry professionals
across gender, ethnicity, age and discipline.
Partnering on the Musical Theatre Darkroom, prodU￿d by China Plate, to increase support for
musical theatre writers of global majority heritages.
Initiating several projects fijnded by the Jane Goodman Charitable Trust to support and champion
femalelnon-binary writers and address the gender imbalance in the industry.
Sending our opportunities to a wider range of partners to ensure they reach currently
underrepresented artists
Review data collected from MTN & MMD membership and event attendees and use to infom) plans
for targeting membership drive to further diversify membership
Membershi
The membership continues to grow in response to the organisation listening to members and sector needs
and offering a wide range of attractive opportunities. After restructuring membership categories in April 2023,
launching the new website and Resource Hub and launching several new opportunities throughout the year,
membership income achieved 133 % of its target for 2023-24.
FINANCIAL REVIEW
Financial review
The statement of financial activities for the year is set out on page 9 and when considered with the notes to
the accounts, shows a year in which our ongoing running costs. combined with the net outturn from the events
in the year, continued to be covered by our membership income. donations and funding from the Arts Council
England.
Reserves policy
At the year end the total funds were valued at £140,798 (2023 £166,951), which consisted of Unrestricted
Funds of £103,111 {2023 as restated £117,290), and Restricted funds of £37,687 {2023 as restated
£49,661). The largest source of funding remains grants re￿iVed from the Arts Council England.
The directors do not look to generate a particular level of unrestricted funds but to maintain unrestricted
reserves so that the charity can meet its financial liabilities as they fall due.
PLANS FOR THE FUTURE
In 2024-25, MMD will be investigating options for relocating its main office outside of London as part of the
Arts Council's Transfer programme. Alongside the regular programme of member events and support, major
projects for 2023-24 include..
The UK Musical Theatre Conference, prodU￿d jointly with MTN, held at the Royal Court in London in
April 2024
Stiles + Drewe Best New Song Prize 2024 - to be held in London in December 2024
Pitching days for BEAM2025 held across the UK in Autumn 2024
The next Cameron Mackintosh Resident Composer pla￿MentS at National Theatre of Scotland and
MAST Mayflower Studios
MMD will continue to find new ways of supporting its members through events and initiatives held both online
and in-person, ensuring that there are development opportunities available to writers across the UK and at all
stages of their careers.
Page 3

Mercury Musical Developments.
Report of the Trustees
for the Year Ended 31 March 2024
STRUCTURE, GOVERNANCE AND MANAGEMENT
Charity Constitution and Governing document
The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited
by guarantee, as defined by the Companies Act 2006.
The Company is registered as a charitable company limited by guarantee and was incorporated on 30 March
1995. It is governed by Articles ofAssociation adopted on 25 May 2011 and rewritten and adopted September
2020.
It is registered with the Charities Commission under charity number 1045606.
Recruitment and appointment of new trustees
The number of Trustees shall not be less than three but there is no set maximum.
New trustees are identified from time to time and invited to join the Board. They will initially meet with the Chair
and the Executive Director. The Board will then vote on their appointment.
Decision making
The Trustees meet for Board meetings every quarter, and more frequently when needed. Subcommittees
relating to specific functions and areas such as a Finan￿ Subcommittee also meet when required. There are
joint Board meetings with Musical Theatre Network Limited approximately once every trrfo years.
Induction and training of new trustees
Any new trustees are inducted by being given a brief history of the Charity and a summary of its current and
planned activities - in addition to a copy of Memorandum and Articles and a meeting with the Executive
Director.
Risk management
The trustees regularly consider and review risks and uncertainties that it may face. The principal risk is
ensuring continued adequate funding for activities. This risk is mitigated by careful planning and budgeting for
events, ensuring sufficient funds andlor sponsorship are available before committing to an event.
REFERENCE AND ADMINISTRATIVE DETAILS
Registered Company number
03039699 (England and Wales)
Registered Charity number
1045606
Registered office
Birmingham Hippodrome
Hurst street
Birmingham
B5 4TB
Trustees
SMGray
S Greenhalgh (appointed 28.6.23)
R J Gwyther
S M Pidcock
S L Reilly
S Srivastava
T J Sutton
D C Tarento
Page 4

Mercury Musical Developments.
Report of the Trustees
for the Year Ended 31 March 2024
Independent Examiner
Locke Williams Associates LLP
Chartered Accountants
clo Blackthorn House
St Pauls Square
Birmingham
West Midlands
B31RL
STATEMENT OF TRUSTEES. RESPONSIBILITIES
The trustees (who are also the directors of Mercury Musical Developments. for the purposes of company law)
are responsible for preparing the Report of the Trustees and the financial statements in accordance with
applicable law and United Kingdom Accounting Standards (United Kingdom Generally AC￿pted Accounting
practi￿).
Company law requires the trustees to prepare financial statements for each financial year which give a true
and fair view of the state of affairs of the charitable company and of the incoming resources and application of
reSoUr￿s, including the income and expenditure, of the charitable company for that period. In preparing those
financial statements, the trustees are required to
select suitable accounting policies and then apply them consistently-
observe the methods and principles in the Charity SORP"
make judgements and estimates that are reasonable and prudent".
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the
charitable company will continue in business.
The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy
at any time the financial position of the charitable company and to enable them to ensure that the financial
statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the
charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other
irregularities.
Approved by order of the board of trustees on 26/1112024
and signed on its behalf by..
.?/*
R J Gwyther - Trustee
Page 5

Independent Examinerfs Report to the Trustees of
Mercury Musical Developments.
Independent examinerfs report to the trustees of Mercury Musical Developments. ('the Company.)
I report to the charity trustees on my examination of the accounts of the Company for the year ended
31 March 2024.
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 examinerfs statement
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=
accounting records were not kept in respect of the Company as required by Section 386 of the 2006
Act., or
the accounts do not accord with those records,. or
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
the accounts have not been prepared in accordan￿ 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
clo Blackthorn House
St Pauls Square
Birmingham
West Midlands
B3 1RL
Date.. 2611112024
Page 6

Mercury Musical Developments.
Statement of Financial Activities
(Incorporating an Income and Expenditure Account)
for the Year Ended 31 March 2024
31.3.24
Total
funds
31.3.23
Total
funds
as restated
Unrestricted
funds
Restricted
funds
Notes
INCOME AND ENDOWMENTS FROM
Donations and legacies
86,535
16,960
103.495
138,619
Charitable activities
Charitable activities
62.136
62.136
40,402
Other income
64
Total
148,735
16,960
165,695
179,021
EXPENDITURE ON
Raising funds
16,479
16.479
15,729
Charitable activities
Development of musical theatre
Education
106,765
39,670
21.097
7,837
127,862
47,507
110,890
41,216
Total
162.914
28.934
191.848
167,835
NET INCOMEI(EXPENDITURE)
(14.179)
111.974)
126.153)
11,186
RECONCILIATION OF FUNDS
Total funds brought forward
As previously reported
Prior year adjustment
20,117
97,173
146,834
97,173)
166,951
155,765
10
As restated
117.290
49.661
166.951
155,765
TOTAL FUNDS CARRIED FORWARD
103,111
37,687
140,798
166,951
CONTINUING OPERATIONS
All income and expenditure has arisen from continuing activities.
The notes fomi part of these financial statements
Page 7

Mercury Musical Developments.
Balance Sheet
31 March 2024
31.3.24
31.3.23
as restated
Notes
FIXED ASSETS
Tangible assets
113
165
CURRENT ASSETS
Debtors
Cash at bank and in hand
12
97.449
80.675
120,878
75,273
178,124
196,151
CREDITORS
Amounts falling due within one year
13
137,439)
(29,365)
NET CURRENT ASSETS
140,685
166,786
TOTAL ASSETS LESS CURRENT
LIABILITIES
140,798
166,951
NET ASSETS
140.798
166,951
FUNDS
Unrestricted funds
Restricted funds
15
103,111
37,687
117,290
49,661
TOTAL FUNDS
140,798
166,951
The charitable company is entitled to exempts'on from audit under Section 477 of the Companies Act 2006 for
the year ended 31 March 2024.
The members have not required the company to obtain an audit of its financial statements for the year ended
31 March 2024 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
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.
(b)
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 2611112024
and were signed on its behalf by=
R J Gwyther - Trustee
The notes fomi part of these financial statements
Page 8

Mercury Musical Developments.
Notes to the Financial Statements
for the Year Ended 31 March 2024
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 accordan￿ with the Charities SORP (FRS 1021 '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
1021 (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.
Going Concern
The Trustees consider that there are no material uncertainties about the charity's ability to continue as
a going concem for the next 12 months and foreseeable future. The charity holds sufficient reserves to
cover grants commitments and operational costs for the next 12 months.
Financial reporting standard 102 - reduced disclosure exemptions
The charitable company has taken advantage of the following disclosure exemption in preparing these
financial statements, as permitted by FRS 102 'The Financial Reporting Standard applicable in the UK
and Republic of Ireland,"
the requirements of Section 7 Statement of Cash Flows.
Income
All income is recognised in the Statement of Financial Activities On￿ the charity has entitlement to the
funds, it is probable that the income will be received and the amount can be measured reliably.
Donations are recognised when the Company has entitlement to the income, there is reasonable
assurance of receipt and the amount of income can be measured reliably.
Grants are recognised when the charity has entitlement to the funds, the ability to fulfil conditions
attached to grants is entirely within the charity's control, it is probable that the income will be received
and the amount can be measured reliably.
Membership income is recognised in relation to the period that the membership includes. Memberships
collected are apportioned over a twelve month period and any period falling beyond the year end date
is deferred as a liability-
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 thataggregate all cost related to the category.
Vvhere costs cannot be directly attributed to particular headings they have been allocated to activities
on a basis consistent with the use of reSoUr￿s.
Allocation and apportionment of costs
The costs of generating funds and charitable expenditure comprise staff and other costs directly
attributable to an activity and also an allocation of support costs. ￿fvere costs have been allocated, this
has been done on the basis of salary costs directly attributable to each of the Company's activities.
Governance costs are those incurred in Complian￿ with constitutional and statutory requirements.
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated
useful life.
Fixtures and fittings
Straight line over 5 years
Taxation
The charity is exempt from corporation tax on its charitable activities.
Page11

Mercury Musical Developments.
Notes to the Financial Statements - continued
for the Year Ended 31 March 2024
ACCOUNTING POLICIES - continued
Fund accounting
Unrestricted funds can be used in accordan￿ with the charitable objectives at the discretion of the
trustees.
Restricted funds can onty 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.
Financial instruments
Financial instruments are recognised in the company's Balance Sheet when the company becomes
party to the contractual provisions of the instrument. Financial assets and liabilities are offset, with the
net amounts presented in the financial statements. when there is a legally enforceable right to set off
the recognised amounts and there is an intention to settle on a net basis or to realise the asset and
settle the liability simultaneously.
Basic financial assets
Basic financial assets, which include re￿1VableS and cash at bank, are initially measured at transaction
price including transaction costs and are subsequently carried at amortised cost using the effective
interest method unless the arrangement constitutes a financing transaction, where the transaction is
measured at present value of the future receipts discounted at a market rate of interest.
Basic financial liabilities
Other financial liabilities, including payables, are initially recognised at transaction pri￿ unless the
arrangement constitutes a financing transaction, where the debt instrument is measured at the present
value of future payments discounted at a market rate of interesL
DONATIONS AND LEGACIES
31.3.24
31.3.23
as restated
Donations
Grants
7.655
95.840
9,741
128,878
103,495
138,619
In the 2023 comparatives, £20,500 has been re-classified from Donations to Grants.
Page11

Mercury Musical Developments.
Notes to the Financial Statements - continued
for the Year Ended 31 March 2024
DONATIONS AND LEGACIES - continued
Grants received, included in the above, are as follows..
31.3.24
31.3.23
as restated
Arts Council - NPO
Arts Council - Feasibility Programme
The Mackintosh Foundation
Lionel Bart Foundation
Garrick Charitable Trust
Noel Coward Foundation
PRS Foundation
The Boris Karloff Charitable Foundation
The Fineman Trust
Doris Field Charitable Trust
63.379
12.211
63,378
45,000
5,000
5.000
2.000
1.750
8.000
1.000
2.500
13,250
2,000
250
95,840
128,878
INCOME FROM CHARITABLE ACTIVITIES
31.3.24
31.3.23
as restated
Activity
Membership subscriptions Charitable activities
Event income
Charitable activities
28,200
33,936
31,149
9,253
40,402
The following is a reconciliation of membership subscriptions re￿iVed and recognised as income in
the year=
Membership subscriptions collected in the year
Released from deferred income (collected last year)
Added to deferred income (collected this year for future periods)
35,296
10,966
18,061)
27,505
14,610
10,966)
28,200
31,149
RAISING FUNDS
Raising donations and legacies
31.3.24
31.3.23
as restated
Staff costs
16,479
15,729
Page11

Mercury Musical Developments.
Notes to the Financial Statements - continued
for the Year Ended 31 March 2024
EXPENDITURE ON CHARITABLE ACTIVITIES
Direct
activities
Support
costs
Governan
costs
Totals
Development of musical theatre
Education
41,162
82,821
3,879
127,862
56,456
113.593
5,320
175,369
Support costs allocated to raising funds relate wholly to salaries. Other support costs are apportioned
to differing activities in proportion to the different charitable activities.
Costs included in the above, are as follows:
Direct activities
31.3.24
31.3.23
as restated
Development
of
musical
theatre
Total
activities
Total
activities
Education
Creative fees
Production Staff & Co-ordination Fees
25.043
16,119
9,305
5,989
34.348
22,108
36,995
20,552
41.162
15.294
Support costs
31.3.24
31.3.23
as restated
Development
of
musical
theatre
Total
activities
Total
activities
Education
Salaries
Social security
Pensions
Rent
Office costs
Other costs
50,672
1,419
1,248
3,135
8,817
17,530
18,827
527
463
1,165
3,276
6,514
69,499
1,946
1,711
4,300
12,093
24,044
58,861
1,244
1,678
6,174
9,951
12,093
82.821
30.772
113,593
90,001
Governance costs
31.3.24
31.3.23
as restated
Development
musical
theatre
Total
activities
Total
activities
Education
Accountancy and payroll fees
3,879
1,441
5.320
4.558
Page 12

Mercury Musical Developments.
Notes to the Financial Statements - continued
for the Year Ended 31 March 2024
NET INCOMEI{EXPENDITURE}
Net incomel(expenditure) is stated after chargingl(crediting)'.
31.3.24
31.3.23
as restated
Depreciation - owned assets
Independent Examiners, fees
98
3.120
86
3,960
TRUSTEES. REMUNERATION AND BENEFITS
There were no trustees, remuneration or other benefits for the year ended 31 March 2024 nor for the
year ended 31 March 2023.
Trustees. expenses
There were no trustees, expenses paid for the year ended 31 March 2024 nor for the year ended
31 March 2023.
STAFF COSTS
31.3.24
31.3.23
as restated
Wages and salaries
Social security costs
Other pension costs
84,225
3,351
74,590
1,244
1,678
89,635
77,512
The average monthly number of employees during the year was as follows:
31.3.24
31.3.23
as restated
Office staff
No employees received emoluments in excess of £60.000.
Page 13

Mercury Musical Developments.
Notes to the Financial Statements - continued
for the Year Ended 31 March 2024
COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
Unrestricted Restricted
funds
funds
Total
funds
as restated
INCOME AND ENDOWMENTS FROM
Donations and legacies
77,719
60,900
138,619
Charitable activities
Charitable activities
40,402
40,402
Total
118,121
60,900
179,021
EXPENDITURE ON
Raising funds
15,729
15,729
Charitable activities
Development of musical theatre
Education
84,987
31,592
25,903
9,624
110,890
41,216
Totsl
132,308
35,527
167,835
NET INCOMEI{EXPENDITURE)
(14,187)
25,373
11,186
RECONCILIATION OF FUNDS
Total funds brought forward
As previously reported
Prior year adjustment
34,304
97.173
121,461
97,173)
155,765
As restated
131,477
24,288
155,765
TOTAL FUNDS CARRIED FORWARD
117,290
49,661
166,951
10. PRIOR YEAR ADJUSTMENT
The prior year adjustments are to restate the split of funds, be￿een restricted and unrestricted, the total
amount of funds remains unchanged from the those stated in the prior year.
Further details of the individual changes to funds are given in the notes to the accounts.
Page 14

Mercury Musical Developments.
Notes to the Financial Statements - continued
for the Year Ended 31 March 2024
11. TANGIBLE FIXED ASSETS
Fixtures
and
fittings
Office
equipment
Totals
COST
At 1 April 2023
Additions
3,395
446
46
3,841
46
At 31 March 2024
3,395
492
3,887
DEPRECIATION
At 1 April 2023
Charge for year
3,395
281
98
3.676
98
At 31 March 2024
3,395
379
3,774
NET BOOK VALUE
At 31 March 2024
113
113
At 31 March 2023
165
165
12. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24
31.3.23
as restated
Trade debtors
Other debtors
Prepayments and accrued income
1,000
2,544
93,905
2,544
118,334
97,449
120,878
£2,544 of other debtors relates to non-current debtors, which is the office lease deposit.
13. CREDITORS: AMOUNTS FALLING DUE ￿THIN ONE YEAR
31.3.24
31.3.23
as restated
Social security and other taxes
Other creditors
Accruals and deferred income
183
11.596
25,660
10,699
18,666
37,439
29,365
Page 15

Mercury Musical Developments.
Notes to the Financial Statements - continued
for the Year Ended 31 March 2024
14. ANALYSIS OF NET ASSETS BETWEEN FUNDS
31.3.24
31.3.23
as restated
Total
funds
Unrestricted Restricted
funds
funds
Total
funds
Fixed assets
Current assets
Current liabilities
113
140.437
37,439)
113
178.124
37.439)
165
196,151
29,365)
37,687
103,111
37,687
140,798
166,951
15. MOVEMENT IN FUNDS
Prior
year
adjustment
Net
movement
in fijnds
At
31.3.24
At 1.4.23
Unrestricted funds
General fund
Jane Goodman Foundation
20.117
61,736
35,437
(3,302)
10,877)
78,551
24,560
20,117
97,173
(14,179)
103,111
Restricted funds
Mackintosh Foundation 2022-2025
BEAM Showcase 2023
Jane Goodman Foundation
ACE Transfer Programme
101,444
9,953
35.437
(57,794)
13,942)
(35,437)
(9,002)
(6,011)
34,648
3.039
146.834
97.173
11,974
37,687
TOTAL FUNDS
166,951
26.153
140.798
Prior year figures have been adjusted as previously overhead costs were not being allocated against
restricted funds and balan￿S were carying over from year to year after the projects had finished,
leading to overstated fund balances. The Jane Goodman Foundation fund has been reallocated from
restricted fund to designated fund, within unrestricted funds, in agreement with the funder.
Net movement in funds. included in the above are as follows"
Incoming
resources
Resources
expended
Movement
in funds
Unrestricted funds
General fund
Jane Goodman Foundation
148,735
(152,037)
10,877
(3,302
10,877
148.735
(162,914)
{14,179)
Restricted funds
Mackintosh Foundation 2022-2025
BEAM Showcase 2023
ACE Transfer Programme
(9,002)
(10,761
9,171)
(9,002)
(6,011)
3,039
4,750
12,210
16.960
28,934
11,974
TOTAL FUNDS
165,695
191.848)
26,153
Page 16

Mercury Musical Developments.
Notes to the Financial Statements - continued
for the Year Ended 31 March 2024
15.
MOVEMENT IN FUNDS - continued
Comparatives for movement in funds
Prior
year
adjustment
Net
movement
in funds
Transfers
be￿een
funds
At
31.3.23
At 1.4.22
Unrestricted funds
General fund
Jane Goodman
Foundation
34,304
61,736
{14,187)
81,853
35,437
35,437
34,304
97.173
(14.187)
117,290
Restricted funds
Mackintosh Foundation
2022-2025
BEAM Showcase 2023
BEAM Followlspot
Jane Goodman
Foundation
70,819
(14,246)
18,188
{57,794)
(3,942)
30,625
6,011
43,650
6,011
18,188
(18,188)
46,700
35,437)
11,263)
121,461
97.173
25,373
49,661
TOTAL FUNDS
155,765
11,186
166,951
Comparative net movement in funds. included in the above are as follows..
Incoming
resources
Resources
expended
Movement
in funds
Unrestricted funds
General fund
118,121
(132,308)
(14,187)
Restricted funds
Mackintosh Foundation 2022-2025
BEAM Showcase 2023
Jane Goodman Foundation
45,000
15,900
(14,375>
(9,889)
11,263>
30,625
6,011
11,263)
60,900
35,527
25,373
TOTAL FUNDS
179,021
167,835)
11,186
Unrestricted Income Fund - comprises the undistributed income of the charity. The Trustees are free to
use these resources in accordan￿ with the objects of this charity.
Restricted Income Funds - comprises donations made to fund the cost of events produced by the
Company to advance the education of the public by encouraging the understanding, appreciation and
development of musical theatre whilst developing the craft of our members in writing books, music and
lyrics for the stage in accordan￿ with the Company's objectives.
Page 17

Mercury Musical Developments.
Notes to the Financial Statements - continued
for the Year Ended 31 March 2024
16. OTHER FINANCIAL COMMITMENTS
The total amount of financial commitments not included in the balance sheet is £19,025 (2023- £1,742).
17. RELATED PARTY DISCLOSURES
There were no related paty transactions for the year ended 31 March 2024.
Page 18