Company registered number.. 02989656
Charity number.. 1045693
THE MIDI MUSIC COMPANY
(A company limited by guarantse and registered charity)
UNAUDITED
DIRECTORS, REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
MYRUS SMITH
Chartered Accountants
Norman House,
8 Burnell Road,
Sutton, Surrey.
SM14BW

THE MIDI MUSIC COMPANY
(A company limited by guarantee and registered charity)
CONTENTS
Page
Reference and Administrative Details of the Charity, its Directors
and Advisers
Trustees, Annual Report
2-10
Independent Examiner's Report
11
Statement of Financial Activities
12
Balance Sheet
13
Notes to the Financial Statements
14-26

THE MIDI MUSIC COMPANY
{A company limited by guarantee and reglstered charity)
REFERENCE AND ADMINSTRATIVE DETAILS OF THE CHARITY, ITS DIRECTORS AND
ADVISERS FOR THE YEAR ENDED 31 MARCH 2024
Directors
Gordon Imlliams, Chair
Geraint Howells, Treasurer
Isabel Newman
Robert Filzpatrick
Indy Vidyalankara
Mervyn Lyn
Claire Shomade
Company registered
number
02989656
Charity registered
number
1045693
Registered office
77 Watson's Street
Deptford
London
SE8 4AU
Executive Director
Wozzy Brewster, OBE, FRSA
Independent Examiner
Myrus Smith
Norman House
8 Burnell Road
Sutton
Surrey. SM14BW
Bankers
Barclays Bank PIC
93 Lewisham High Street
Lewisham
SE13 6BB
CAF Bank
25 Kings Hill Avenue
Kings Hill
West Malling
Kent ME19 4JQ
Charity Bank Ltd
Fosse House
182 High Street
Tonbridge
TN9 1BE
Page 1

THE MIDI MUSIC COMPANY
(A company limited by guarantee and registered charity)
DIRECTORS, REPORT
FOR THE YEAR ENDED 31 MARCH 2024
Structure Governance and Mana
ement
Governin
Document
The Midi Music Company is a company limited by guarantee governed by its Memorandum and Articles of
Association dated 26th July 1994 and amended 121h December 2012. It is registered as a charity with the
Charity Commission and the Fundraising Regulator.
ointment of Board of Directors
As set out in the Articles of Association the Board of Directors has the power at any time, and from time to
time, to appoint any person to be a Director, either to fill a casual vacancy or as an addition to the existing
Directors. Any Director so appointed shall hold office only until the next following Annual General Meeting
and shall then be eligible for re*lection. The Board of Directors operates on a voluntary basis.
Directors Induction & Trainin
New Directors have a preliminary meeting with the Chair and Executive Director, plus an induction meeting
with the Executive Director to brief them on the vision, artistic programme, and financial performance of the
charity, as well as an opportunity to observe a Board meeting. During the induction they meet key staff
members and can observe various aspects of the charity's work.
During the obseNation Board meeting new Directors can raise any queries or issues with the rest of the
Board of Directors.
The Directors are encouraged to attend appropriate training events that will facilitate the undertaking of
their role and re￿1ve relevant Charity Commission and Clore Cultural Leadership information on due
diligence and regulations.
Or
anisation
The Board of Directors administers the charity. The Board meets quarterly and has specific members with
responsibility for personnel, finance, legal, client development, philanthropy, social investment, PR,
marketing, digital streaming insights and the musiG industry An Executive Director is appointed by the
Board to manage the day-to-day operations of the charity. To facilitate effective operations, the Executive
Director has delegated authority, within the terms of delegation approved by the Board, for operational
matters including finan￿, personnel, resources, logistics and artistic performance related activities.
Related Parties
The charity's wholly owned subsidiary, The Midi Music Company Events Ltd, was established to deliver
creative events for young people. The Midi Music Company is the only shareholder and all profits from the
events company are inv8Sted in the charity. The Midi Music Company Events Ltd is currently dormant.
Risk Mana
ement
The Board of Directors receives quarterly financial management and operations reports, including
information on cashflow, financial support, artistic programme, statistical data, resources, logistics,
ne￿OrkS, and developments, as well as holding additional meetings, when required, to discuss financial,
personnel & resource issues.
Page 2

THE MIDI MUSIC COMPANY
(A company limited by guarantee and registered charity)
DIRECTORS, REPORT
FOR THE YEAR ENDED 31 MARCH 2024
The staff team monitor operations and finances weekly on behalf of the Board of Directors, reporting areas
of concern and highlighting the potential risk to the charity, along with recommendations for strategic
development, fundraising, safeguarding children and young people, and hearth & safety. A key element in
the management of financial risk is the establishment of a reserves policy and its regular review by the
Board of Directors.
Ob"ectlves & Activities
The objects of the charity are:
To promote, maintain, improve, and advance education particularly by the encouragement of the
Arts including all forms of performing and visual art with special reference to the art of Music.
The charity provides a Spa￿ for all children and young people to be inspired to get into music and the
creative industries, working within a safe and inspiring creative hub.
The primary focus for the year was.. to reestsblish the core programme and engage regular and new
participants, continued growth of CICAS@ and CAPS members for rehearsals, collaborations and
recordings" retaining ongoing investment from the London Borough of Lewisham, Arts Council England,
Tom ap Rhys Pry￿ Memorial Trust and the Paul Hamlyn Foundation" and the Charity's involvement in the
Black Association for the Arts UK (BAFA UK), ongoing participation in the UK Music Diversity Taskforce,
BPI Music Export Growth Scheme, BRIT Award Voting Academy and WOMEX 2023, plus engagement in
the AIM + FAC Artists & Managers Awards Panel, MMF Managers AC￿leratOr Programme panel, with the
UK Music 5 Ps partnership with [PIASI, contributing towards greater diversity with the music business and
nurturing tslent pathways. Support was also provided for various campaigns including, #Freemovecreate,
#EveryChildAMusician,
#100PercentVenues,
#LetTheMusicPlay,
#savebrixtonacademy
and
#NoMusicOnADeadPlanet.
The strategies employed to achieve the charity's objectives are to=
Provide inspiring and engaging educational and training programmes targeted at children and
young people with rewarding incentives,
Work in partnership with relevant agencieslorganisations to collate industry intelligen￿, host
seminars and master classes to broaden young people's understanding of current trends and
opportunities in the UK music industry and cultural industries,
Develop relationships with music industry businesses lo provide access to entry level jobs, support
funding investment for young people and the creation of partnership opportunities,
Establish affordable access programmes for children and young people to learn how to play
instruments, develop music production skills, record their music, develop creative enterprises,
explore creative internships, and work placements, expand their social nelworks, rehearse. perft)rm
and develop themselves as creative entrepreneurs,
Participate in relevant seminars, forums, panels. advisory groups, and conferences,
Develop our strategic partnerships and ne￿OrkS.
The four major areas of activity are: educational programmes; creative industries careers advice seNice"
events,. and partnership projects.
Page 3

THE MIDI MUSIC COMPANY
(A company limited by guarantee and registered charity)
DIRECTORS, REPORT
FOR THE YEAR ENDED 31 MARCH 2024
The educational programmes are primarily focused on providing music & production education for children
and young adults. They aim to offer opportunities in instrumental skills development, music composition,
music production, mixing & mastering, music business, bursaries, and cross-art form initiatives. We engage
industry professionals who share their expertise to inspire emerging talent to understand the trends and
opportunities. The programmes allow individuals to enhan￿ their creative skills and identify progression
routes. Participants are referred from schools, colleges, looked after children services, asylum and refugee
projects, social services, youth offending schemes, pupil referral units, looked after services, youth
projects, local housing initiatives, mental health services, employment initiatives and other related
agencies.
The Creative Industries Careers Advice Service CICAS@ (pronounced "seekers") creates a platform for
young adults to explore their potential and identify pathways for their creative development including skills-
based training, work experience placements, apprenticeships. internships, mentorships, self-employment
and establishing new enterprises. The 1.1 advice, support and guidance sessions continue online via
Zoom, enabling more young people from across the country to access careers support. with continuous
demand for one-to-one sessions. as well as talent development, industry contacts, marketing support,
funding advice & guidance, references, and referrals, plus access to iehearsal and recording facilities at
MMC onsite.
The CICAS@ Podcasts continue to profile emerging tslent on Soundcloud, MMC'S website and newsletter.
The partnership projects that engage children and young people enable participants to connect with
emerging artists locally, regionally, and nationally. These represent Spoken Word, music. songwriting and
production projects, internats'onal initiatives, seminars, conference panels
the work placements at MMC
for students attendin9 formal educational establishments were fully re-instated.
Public Benefit
The charity provides public benefrt through a variety of different approaches..
Providing subsidised afft)rdable instrumental, Spoken Word and music production tuition for socio-
economically disadvantaged children, complimented by the Tom ap Rhys Pryce Music Bursary
programme for 1..1 tuition at The ConseNatoire in Blackheath with partner nominations from YUAF
and Fairbeats Music. The Conservatoire also supports the programme by providing extended
bursaries, where possible. plus the Jack Petchey Foundation distributes Bronze Awards for
Outstanding Achievement for AYM students
Mentoring & supporting young people and arts professionals
Providing free careers advice and discounted access for CICAS@ & CAPS (Creative Associate
Professionals
CICAS@ alumni) members to rehearsal space, music production equipment,
recording facilities, multimedia reSoUr￿s, vocal coaching. talent development, funding advice &
guidance, references, industry links, marketing, digital media, PR & marketing support
Developing new audiences for young emerging artists, bands and creative entrepreneurs via our
website, social media, newsletter, podcasts, showcases and events, in addition to providing MMC
Takeovers across various platforms or providing pathways to performan￿ opportunities
Circulating creative & cultural industries data and intelligence to provide greater equity for young
people from diverse backgrounds through the CICAS@ and CAPS programmes
Linking emerging talent to industry professionals via our established creative & cultural industries
networks and contacts
Safeguarding children and young people so that they Can engage in positive, creative learning
experiences, supported by experienced and professional staff team5 and volunteers, who are DBS
checked, according to child protection regulations.
Page 4

THE MIDI MUSIC COMPANY
(A company limlted by guarantse and registered charity)
DIRECTORS, REPORT
FOR THE YEAR ENDED 31 MARCH 2024
Achievements & Performance
MAIN ACTIVITIES
Aspiring Young Musicians
(AYM)
OUTCOPJIES
24 children aged 11 16
participated in Music Production,
MCISpoken Word and Keyboards
for Songwriting classes.
KEY FACTORS
AYM students in Year 10 & 11
were studying for GCSES during
the academic year reducing
registrations.
Cre8tlv@
47 students aged 16+ participated
in the Music Production, Mixing &
Mastering & new DJ Skills evening
courses and one-day DIY
Releasing course
17°A increase in registrations
during the year and the
introduction of the DJ Skills course
led to students DJing at external
events.
CICAS@: Creative
Industries Careers
Advice Service (pronounced
"Seekers.)
1,447 young adults aged 16+
received 'one-to-one' information,
advice and guidance, as well as
access to resources, marketing
support,
funding
advice
guidan￿, industry contacts and
artistic development.
On-going demand with 44Q/o
increased users, including other
unregistered band members and
artists
registered CICAS@
members surveyed (218) with 60,
remaining registered with industry
bodies, 13
CICAS@ 31+
members and 74 x CICAS@ alumni
part of the Creative Associate
Professional {CAPs) programme.
CICAS@ Podcasts - on our MMC
website
profiling 12 Young
EntrepreneurslArtists
Opportunity for
CICAS@ members to feature in an
on-line podcast.
CICAS@ Internships for 3 young
producers
Arinola continued her internship
releasing her second
single
'Thought U Might,, garnering
interest from Europe's leading
Music PrOdu￿r Manager, Stephen
Budd. Isaac Baden-Povwell aka
Wazoo completed the intemship
with a remix by Dave Okumu 'Eja'
and
continues
to
run
his
Greenwich-based recording studio.
New Intem Rowan Mathews aka
Mantooth started Autumn 2023.
The Interns attended the Artists &
Managers Awards, MMF Manager
Accelerator
programme
anniversary @ YouTube and other
relevant industry seminars.
Page 5

THE MIDI MUSIC COMPANY
(A company limited by guarantee and registered charity)
DIRECTORS, REPORT
FOR THE YEAR ENDED 31 MARCH 2024
Music ExploslonTM Industry
Talks + Networking
A series of music business talks
with Q&A and ne￿orking, covering
recording & distribution, music
contracts, digital marketing.
independent record labels, funding
audien￿ development and
business affairs- 37 x participants
aged 16+
These sessions were supported
by.. 0207 Def Jam Records,
Rapture Records, IPIASI, PRS for
Music Foundation and the Arts
Council.
Summer
Showcase & mini Sharings
2 x AYM Sharings at the end of
each term inperson with students
and parentslcarerslfriends
1 x Summer Showcase
The Sharings and Summer
Showcase are great opportunities
for students to showcase their
ongoing work and see their peers
perform trom the Tom ap Rhys
pry￿ Music Bursary Award
winners_
Outreach & Partnerships
8 x bursary awards to children and
young people aged 11 19 to
attend The Conservatoire in
Blackheath for 1-.1 tuition over the
period of one year
Tom's Trust supports the Bursary
programme allowing the cohort to
develop instrumental skills on an
instrument of their choi￿.
Placements and work experience
from educational establishments
MMC hosted a 2mth internship
from University of Sussex and work
experience placements from
Prendegast Ladywell, Sydenham
Girls and Bexley Grammar
Secondary Schools.
Deaf Rave Music Production &
Access programme for Deaf young
people.
Continued to support Deaf
producers and sign song artists:
SignKid was profiled on the BBC
signed Live Lounge and was
sponsored by Champion brand
with a feature in High Snobiety. MC
Geezer is studying at Westminster
University.
Deaf Rave CIC
Introduced Deaf Rave to Sony
Music and the Association for
Independent Festivals to support
opportunities for sign song artists
and greater understanding of the
Deaf community.
Page 6

THE MIDI MUSIC COMPANY
(A company limited by guarantee and registered charity)
DIRECTORS, REPORT
FOR THE YEAR ENDED 31 MARCH 2024
The Inspiration@ Network -
strategic partnership with Impact
10, IRIEI dance theatre and
Lionbeat
Continued progression routes for
young people into the creative &
cultural industries. supported by
referrals. Identifying additional
partners.
Creative Associate Professional
Group (CAPS): MMC graduates,
alumni, industry professionals and
associated young entrepreneurs
working together to increase their
resources as a collective
Tre continued development of a
strategic grass roots network with
the capacity to record, release,
publish and distribute new music
Steam Down
steam Down did a grassroots tour
in the USA after getting their US
visas supported by MMG,
Bacon's College- Southwark
MMC worked with 26 x students to
develop production and
songwriting skills, culminating in a
recording session at MMC.
Association of Independent Music
(AIM)
Partnership organisation with free
or discounted access for CICAS(b
& CAPS members to AIM Sync
Conference, AIM Connected
Conferen￿, AIM Academy
webinars and industry intelligence
Partnership organisation with free
and discounted access to webinars
and industry intelligence, plus
CICAS@ member opportunities to
become FAC Ambassador
3 x artists performed on the Queen
street Stage- Angelina Luzi,
Damelola and Barbarella hosted by
Ola Torch
Featured Artist Coalition (FAC)
London Landmarks Half
MarathonlMMC Takeover
SDS Entertainment - Croydon
Continued mentoring, support and
guidance. Developing Al + Music
project partnership with MMC-
BAFA UK Board member
BAFA UK
Ongoing participation in the Black
Association for Arts UK led by
founder, Cleveland Watkiss and
chaired by James Joseph
Page 7

THE MIDI MUSIC COMPANY
(A company limited by guarantee and registered charlty)
DIRECTORS, REPORT
FOR THE YEAR ENDED 31 MARCH 2024
Lionbeat
Partnered with Lionbeat on the
Local is Logical BassisBike zero-
carbon project sponsored by Matt
Black
Lewisham Cultural Partnership
MMC joined the LCP Board
working with other creative
organisations across the borough
IPIAS] - Black History Month Event
Southwark
Delivery of Resonance in
partnership with IPIAS] providing
music industry panel and artist
showcase at Peckham Audio
International
Creative Knowledge & Skills
Cultural Partnership- Mauritius
On hold.
WOMEX 2023
Participation in person in Spain
with a range of intemational music
businesses.
Events
3 x The Breakout Club - 235
audience
Live music events at the Fox +
Firkin featuring emerging artists
Seminars, Fowms &
Conferences
The staff team engaged with
various forums, industry bodies
and events, including. Lewisham
Music. LEAN, BPI'S Music Export
Growth Scheme Board, Artist &
Manager's Awards, AIM Awards,
MMF Music Manager Ac￿leratOr
programme panel, Association for
Electronic Music (AFEM), Action
for Diversity & Development,
English Folk Expo, IRIEI dance
theatre, Black Lives in Music, UK
Music Diversity Taskforce, London
Youth + more
Contribution to panels, local
community, and creative
strategies, as well as raising the
profile of the charity. Extension of
links and contacts within the
commercial UK music industry and
other creative industries.
Page 8

THE MIDI MUSIC COMPANY
(A company limited by guarantee and registsred charity)
DIRECTORS, REPORT
FOR THE YEAR ENDED 31 MARCH 2024
Flnancial Review
The principal funding sources were the Arts Council England (NPO), the London Borough of Lewisham,
Paul Hamlyn Foundation and Tom ap Rhys Pryce Memorial Trust, with additional funds from the Jack
Petchey Foundation.
The applications to Warner Music Group Blavatnik Family Foundation and London Youth were
UnSuc￿sSfUl.
The Charity re￿iVed donations via Easy Fundraising. Amazon Europe. PayPal, DONR and BPI.
The Directors, focus on identifying philanthropic and corporate social responsibility investment, with
ongoing discussions with the Sony Music Social Justice Fund and exploratory talks with PPL. The Arts
Council England NPO and Lewisham Council investments are subject to potential one-year extensions
taking their commitments up to 2027 and 2026, respectively.
Investment Powers & Polic
Under the Memorandum and Articles of Association, the charity has the power to invest in any way the
Directors wish.
The Directors, having regard for the objects stated in the Memorandum of Association, have operated a
policy of keeping available funds in an interest-bearing account as part of their reserves policy.
Reserves Polic
The activities of The Midi Music Company are fInan￿d on a project-funding basis with a measure of
unrestricted funding to cover necessary administration and overheads. There are no capital reserves that
can be placed on deposit or othemise prudently invested. Accordingly, all Cash resources are held in the
charity's current and reserve accounts. A reserve account has been estsblished at CAF Bank and Charity
Bank providing financial resourtss in the event of cash flow requirements and redundancy packages. An
annual deposit is made, when possible, and interest is accrued quarterly.
The actual reserve account balance, held in the CAF Gold Bank account, on 31st March 2024 was
£20,756.27 and Charity Bank wa5 £52,454.73.
Plans for Future Periods
MMC'S ongoin9 priority is to attract permanent staff to the core team having utilised temporary cover staff in
2023124, with current recruitment and retainment issues affecting the cultural & creative industries and
other sèctors, both private and public.
The enhancement of the artistic programme with a variety of music projects currently in development that
will add value to the core programme and bring greater benefits to a range of partnerships, including the
music industry, establishing collaborative projects with [PIASI Diversity Team to deliver Music Explosion
Speed Dating TalkslQ&As, Lewisham Cultural Partnership, IRIE! dance theatre, Association for Electronic
Music, English Folk Expo and other relevant organisations, talent development and music education
programmes for aspiring and emerging artists. as well as partnerships with Lionbeat in Lewisham and SDS
Entertainment in Croydon.
Page g

THE MIDI MUSIC COMPANY
(A company limited by guarantee and registered charity)
DIRECTORS, REPORT
FOR THE YEAR ENDED 31 MARCH 2024
Small Com
an
ecial Provisions
The report of the Directors has been prepared taking advantage of the small companies. exemption of
section 417111 of the Companies Act 2006. It was approved. and authorised for issue, by the Directors on
20th Sep
mber 20
and signed on its behalf by-
Gordon Williams
Chair, Board of Directors
Page10

THE MIDI MUSIC COMPANY
(A company limited by guarantee and registsred charity)
INDEPENDENT EXAMINER'S REPORT
FOR THE YEAR ENDED 31 MARCH 2024
I report to the charity trustees on my examination of the accounts of the company for the year ended 31
March 2024 which are set out on pages 10 to 22.
Responsiblllties and basis of report
As the charity 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
company's accounts as carried out under section 145 of the Charities Act 2011 ('the 2011 Act,). In carrying
out my examination I have followed the Directions given by the Charity Commission under section
145{5)(b) of the 2011 Act.
Independent examiner's statement
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 that in any material respect=
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 accordance with the methods and principles of the Statement
of Recommended Practice for accounting and reporting by charities applicable to charities preparing
their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic
of Ireland (FRS 102).
I have no cOn￿rnS 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 understsnding of the accounts to be
reached.
K.C. Fisher FCA
% Myrus Smith
Chartered Accountants
Norman House
8 Burnell Road
Sutton, Surrey
SM14BW
30 September 2024
Page11

THE MIDI MUSIC COMPANY
(A company limited by guarantee and registered charity)
STATEMENT OF FINANCIAL ACTIVITIES
(Incorporating Income and Expenditure Account)
FOR THE YEAR ENDED 31 MARCH 2024
Unrestricted Restricted
Funds
Funds
Total
2024
Total
2023
Notes
Income from:
Grants, Trusts and donations
Course fees
Event and venue hire
Bank interest re￿1vable
Other income
183,913
5,400
6,356
1,904
1,644
24,510
208,423
5,400
6,356
1,904
1,644
205,506
5,159
4,692
772
1,300
Total income
199,217
24,510
223,727
217,429
Expenditure on:
Charitable activities:
Staff costs
Project costs
Office costs
Publicity
Music equipment maintenance
Governance costs
Depreciation
146,051
12,286
38,454
6,308
5,026
15,224
400
500
151,077
27,510
38,854
6,808
135,485
15,815
41,508
6,688
373
5,426
11,209
4,686
6,063
4,686
6,063
Total expenditure
213.848
21,150
234,998
216,484
Net movement in funds
(14.631)
3,360
(11,271)
945
Reconciliation of funds:
Total funds brought foward
96,157
500
96,657
95,712
Net movement in funds
(14,631)
3,360
(11,271)
945
Total funds carried forward
81,526
3,860
85,386
96,657
All income and expenditure derives from continuing activities. The Statement of Financial Activities
includes all recognised gains and losses recognised in the year. In 2023, of the total income of £217,429,
£206,529 was to unrestricted funds and £10,906 was to restricted funds. In 2023, of the total expenditure
of £216,484, £205,234 was from unrestricted funds and £11,250 was from restricted funds.
The notes form part of the financial statements.
Page 12

THE MIDI MUSIC COMPANY
(A company limited by guarantee and registered charity)
BALANCE SHEET
AS AT 31 MARCH 2024
2024
2023
FIXED ASSETS
Notes
Tangible assets
Investments
6,415
12,478
10
6.416
12,479
CURRENT ASSETS
Debtors
Cash at bank and in hand
11
1,500
94,444
93,670
93.670
95.944
CREDITORS: Amounts falling due
wilhin one year
12
114,700}
111,7661
NET CURRENT ASSETS
78.970
84,178
TOTAL NET ASSETS
85,386
96,657
Charity Funds
Restricted funds
UnFesricted funds
3,860
81,526
500
96,157
Totsl funds
85,386
96,657
The Charity was entitled to exemption from audit under Section 477 of the Companies Act. The members
have not required the company to obtain an audit for the year in question in accordance with Section 478 of
the Companies Act 2006.
The directors acknowledge their responsibilities for compSying with the requirements of the Act with respect
to accounting records and preparation of financia5 statements.
The financial statements have been prepared in accordance with the provisions applicab5e to entities
subject to the small companies regime-.
The financial statements were approved and authorised for issue by the Directors on 20th September
2024 and signed on
ts behalf by:
Gordon Williams
Chair
aint Howells
asurer
The notes form part of the financial *atements.
Page 13

THE MIDI MUSIC COMPANY
(A company limited by guarantee and registered charity)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
General information
The Midi Music Company is a private charitable company and is registered with the Charity
Commission (Charity Registered Number 1045693) and Registrar of Companies (Company
Registration Number 02989656) in England and Wales.
In the event of the Charity being wound up, the liability in respect of the guarantee is limited to £1 per
member of the Charity.
The address of the registered Offi￿ is given in the Charity information on page 1 of these financial
statements. The nature of the Charity's operations and principal activities are to provide a space for
all children and young people to be inspired to get into music and the creatNe industries.
Accounting Policies
2.1 Basis of preparation of financial statements
The financial statements have been prepared in accordance with the Charities SORP (FRS 102)
Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charities
preparing their accounts in accordan￿ with the Financial Reporting Standard applicable in the UK
and Republic of Ireland (FRS 102) and the Companies Act 2006.
The Midi Music Company meets the definition of a public benefit entity under FRS 102. Assets and
liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the
relevant accounting policy.
The financial statements are presented in pound sterling which is the functional currenw of the
Charity and rounded to the nearest pound.
The significant accounting policies applied in the preparation of these financial statements are set
out below. These policies have been consistently applied to all years presented unless othewise
stated.
2.2 Going concern
The Trustees have assessed the use of going con￿rn and have considered possible events or
conditions that might cast signifi'cant doubt on the ability of the Charity to continue as a going
concern. The Trustees have made this assessment for a period of at least one year from the date of
the approval of these financial statements. The Trustees have concluded that there is a reasonable
expectation that the Charity has adequate resources to continue in operational existence for the
foreseeable future. The Charity therefore continues to adopt the going concern basis in preparing
these financial statements.
2.3 Income
All income is recognised once the Charity has entitlement to the income, it is probable that the
income will be received and the amount of income receivable can be measured reliably.
Page 14

THE MIDI MUSIC COMPANY
(A company limited by guarantee and registsred charity)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
Accounting Policles (continued)
2.3 Income (continued)
For donations to be recognised the Charity will have been notified of the amounts and the settlement
date in writing. If there are conditions attached to the donation and this requires a level of
performance before entitlement can be obtained then income is deferred unkn'l those conditions are
fully Met or the fulfilment of those conditions is within the control of the Charity and it is probable that
they will be fulfilled.
The Charity receives grants in respect of furthering its charitable objectives.
Income from
government and other grants are recognised at fair value when the Charity has entitlement after any
performance conditions have been met, it is probable that the income will be received and the
amount can be measured reliably. If entitlement is not met then these amounts are deferred.
Other income is recognised in the period in which it is receivable and to the extent the goods have
been provided, or on completion of the service.
2.4 Expenditure
All expenditure is accounted for on an accruals basis and has been classified under headings that
aggregate all costs related to that category. Expenditure is recognised once there is a legal or
constructive obligation to transfer economic benefit to a third party, 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 classified by activity.
Expenditure on charttable activities is incurred on directly undertaking the activities which further the
Charity's objectives, as well as any associated support costs.
All expenditure is inclusive of irrecoverable VAT.
2.5 Interest receivable
Interest on funds held on deposit is included when receivable and the amount can be measured
reliably by the Charity- this is normally upon notification of the interest paid or payable by the
institution with whom the funds are deposited.
2.6 Taxation
The Charity is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act
201 O and therefore it meets the definition of a charitable company for UK corporation tax purposes.
Accordingly, the Charity is potentially exempt from taxation in respect of income or capital gains
received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section
256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are
applied exclusively to charitable purposes.
2.7 Tangible fixed assets and depreciation
Tangible fixed assets costing £500 or more are capitalised and recognised when future economic
benefits are probable and the cost or value of the asset can be measured reliably.
Page 15

THE MIDI MUSIC COMPANY
IA company limfited by guarantee and registered charity)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
Accounting Policies (continued>
2.7 Tangible fixed assets and depreciation (continued)
Tangible fixed assets are initially recognised at cost. After recognition, under the cost model tangible
fixed assets are measured at cost less accumulated depreciation and any accumulated impairment
losses. All costs incurred to bring a tangible fixed asset into its intended working condition should be
included in the measurement of cost.
A review for impairment of a fixed asset is carried out if events or changes in circumstances indicate
that the carrying value of any fixed asset may not be recoverable. Shortfalls between the carrying
value of fixed assets and their recoverable amounts are recognised as impaimEnts. Impairment
losses are recognised in the Statement of Financial activities.
Depreciation is charged so as to allocate the cost of tangible fixed assets less their residual value
over their estimated useful lives, using the straight-line method.
Depreciation is provided on the following bases:
Improvements to rented property
offi￿ equipment
Music equipment
- 20 years
- 4 years
- 4 years
2.8 Investments
Fixed asset investments are a form of financial instrument and are initially recognised at their
transaction cost and subsequently measured at fair value at the Balan￿ Sheet date, unless the
value cannot be measured reliably in which case it is measured at cost less impairment. Investment
gains and losses, whether realised or unrealised, are combined and presented as 'Gainsl(Losses) on
investments, in the Statement of financial activities.
The investment in the Charity's trading subsidiary is included on the Balance Sheet at cost. The last
valuation was carried out in September 2008. The Directors are satisfied that there has been no
significant change in market value since this date.
2.9 Debtors
Trade and other debtors are recognised at the settlement amount after any discount offered.
Prepayments are valued at the amount prepaid net of any trade discounts due.
2.10 Cash at bank and in hand
Cash at bank and in hand includes cash and short-term highly liquid investments with a short
maturity of three months or less from the date of acquisition or opening of the deposit or similar
account.
2.11 Liabilities and provisions
Liabilities are recognised when there is an obligation at the Balance Sheet date as a result of a past
event, it is probable that a transfer of economic benefit will be required in settlement, and the amount
of the settlement can be estimated reliably.
Page 16

THE MIDI MUSIC COMPANY
(A company limited by guarantee and registered charity)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
Accounting Policies (contlnued)
2.11 Liabilities and provislons (continued)
Liabilities are recognised at the amount that the Charity anticipates it will pay to settle the debt or the
amount it has received as advanced payments for the goods or services it must provide.
Provisions are measured at the best estimate of the amounts required to settle the obligation.
Where the effect of the time value of money is material. the provision is based on the present value
of those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability.
The unwinding of the discount is recognised in the Statement of financial activities as a finan￿ cost.
2.12 Financial instruments
The Charity only holds basic Financial Instruments. The financial assets and financial liabilities of the
Charity are as follows..
Debtors- trade and other debtors {including accrued income) are basic financial instruments and are
debt instruments measured at amortised cost as detailed in Note 11. Prepayments are not financial
instruments.
Cash at bank- is classified as a basic financial instrument and is measured at face value.
Liabilities - trade creditors, accruals and other creditors will be classified as financial instruments and
are measured at amortised cost as detailed in Note 12. Taxation and social security are not included
in the financial instruments disclosure. Deferred income is not deemed to be 8 financial liability, as
the cash settlement has already taken place and there is simply an obligation to deliver charitable
services rather than cash or another financial instrument.
2.13 Pensions
The Charity operates a defined contribution pension scheme and the pension charge represents the
amounts payable by the Charity to the fund in respect of the year.
2.14 Fund accounting
General funds are unrestricted funds which are available for use at the discretion of the Directors in
furtheran￿ of the general objectives of the Charity and which have not been designated for other
purposes.
Designated funds comprise unrestricted funds that have been set aside by the Directors for particular
purposes. The aim and use of each designated fund is set out in the notes to the financial
statements.
Restricted funds are funds which are to be used in accordance with specific restrictions imposed by
donors or which have been raised by the Charity for particular purposes. The costs of raising and
administering such funds are charged against the specifiG fund. The aim and use of each restricted
fund is set out in the notes to the financial statements.
Investment income, gains and losses are allocated to the appropriate fund.
Page 17

THE MIDI MUSIC COMPANY
(A company limited by guarantee and registered charty)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
Income from donations, grants and trusts
Unrestricted Restricted
Funds
Funds
2024
2024
Total
Funds
2024
Donations
Grants and Trusts
In-kind donations
930
182,983
10,000
10,930
14,510 197,493
183,913
24,510 208,423
Unrestricted Restricted
Funds
Funds
2023
2023
Totsl
Funds
2023
Donations
Grants and Trusts
In-kind donations
15,215
179.391
15,215
190,291
10,900
194,606
10,900
205,506
Analysis of Grants and Trusts
Unrestricted Restricted
Funds
Funds
2024
2024
Total
Funds
2024
Arts Council England grant
London Borough of Lewisham grant
Jack Petchey grant
Tom Ap Rhys Pryce Trust
Paul Hamlyn Foundation
119,391
30,592
119,391
30,592
900
13,610
33,000
900
13,610
33,000
182,983
14,510 197,493
There are no unfulfilled conditions or other contingencies attached to the government grants above
and below..
Page 18

THE MIDI MUSIC COMPANY
(A company limitsd by guarantee and registered charity)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
Income from donations, grants and trusts {continued)
Analysis of Grants and Trusts (contlnued)
Unrestricted Restricted
Funds
Funds
2023
2023
Totsl
Funds
2023
Arts Council England grant
London Borough of Lewisham grant
Jack Petchey grant
Tom Ap Rhys Pryce Trust
Paul Hamlyn Foundation
119,391
30,000
119,391
30,000
900
10,000
30,000
900
10,000
30.000
179,391
10,900 190,291
Project costs
Total
2024
Total
2023
Trainee costs
Travel and subsistence
Documents and material
Training
Special Projects
11,344
4,873
696
1.597
9,000
10,626
3,586
690
913
27,510
15,815
Office costs
Total
2024
Total
2023
Light, heat and premises
Rent
Insurance
Postage and stationery
Telephone and internet
Office equipment maintenance
Bank charges
17,937
154
4,588
3,805
11,131
921
318
17,341
143
5,273
3,367
13.557
1,575
252
38,854
41,508
Page 19

THE MIDI MUSIC COMPANY
{A Gompany limited by guarantee and registered charity)
NOTES TO THE FINANCIAL STATEAfjENTS
FOR THE YEAR ENDED 31 MARCH 2024
Governance costs
Total
2024
Tota
2023
Independent Examiners, remuneration
Independent Examiners, remuneration - Other fees
Professional fees
3,600
4,020
420
986
1,086
4,686
5,426
staff costs
Total
2024
Total
2023
Wages and salaries
Social security costs
Contribution to defined contribution pension schemes
148,100
2,977
131,924
3,436
105
151,077
135,465
Included within wages and salaries are £8,605 to freelance tutors (2023 £8,040) and £63,495 to
self*mployed and casual staff (2023 .' £45,143).
The average number of persons employed by the Charity during the year was as follows:
2024
No
2023
No
Direct staff
No employee received remuneration amounting to more that £60,000 in either year.
The total amount of employee benefits received by Key Management Personnel was £56,783
(2023 . £57,088) which includes employers national Insuran￿ contributions and employers pension
contributions. The charity considers its Key Management Personnel to comprise the Directors and
Executive Director.
Directors remuneration and expenses
During the year, no Directors received any remuneration or other benefits (2023 . £Nil).
During the year ended 31 March 2024, no Director expenses have been incurred (2023 . £Nil).
Page 20

THE MIDI MUSIC COMPANY
(A company limited by guarantee and registered charity)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
Tanglble fixed assets
Improvements
to rented
property
Office
equipment
Music
equipment
Totsl
Cost or valuation
At 1 April 2023
Disposals
131,806
26,774
91.171
249,751
At 31 March 2024
131,806
26,774
91,171
249,751
Depreciation
At 1 April 2023
Charge for the year
On disposal
131,806
17,942
2,717
87,525
3,346
237,273
6,063
At 31 March 2024
131,806
20,659
90,871
243,336
Net book value
At 31 March 2024
6.115
300
6,415
At 31 March 2023
8,832
3,646
12,478
10. Flxed asset investments
Investments
in subsidiary
Companies
Cost or valuation
At 1 April 2023
At 31 March 2024
Net book value
At 31 March 2024
At 31 March 2023
Page 21

THE MIDI MUSIC COMPANY
(A company limited by guarantee and registered charity)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
10. Flxed asset investments (continued)
The Midi Music Company Events Limited
The Midi Music Company holds 1 £1 ordinary shares in The Midi Music Company Events Limited
(Company Number. 04654990) representing a 100 % holding.
The registered offiGE of The Midi Music Company Events Limited is 77 Watsons Stree( Deptford,
London, SE8 4AU.
The financial results of the subsidiary were as follows..
Income - £Nil
Expenditure - £Nil
Surplus for the period - £Nil
Net assets - £1
In February 2003, the Charity formed Midi Music Company Events Limited, which is a wholly owned
trading subsidiary formed for the purpose of organising large youth arts events. Consolidated
accounts have not been prepared in respect of its subsidiary company because the group qualifies
as a small group under section 398 of the Companies Act 2006. It is currently dormant and the
capital of The Midi Music Company Events Limited, for the year ended 31 August 2023 is shown
above.
11. Debtors
2024
2023
Due within one year
other debtors
1,500
1,500
12. Creditors: Amounts falling due within one year
2024
2023
Trade creditors
Other taxation and social security
other creditors
Accruals and deferred income
9.150
1,950
6,237
1,509
3,600
4,020
14,700
11,766
Deferred in¢ome
At 1 April 2023
Resources deferred during the year
Amounts released from previous periods
5,000
(5,000)
At 31 March 2024
Page 22

THE MIDI MUSIC COMPANY
(A company limlted by guarantee and reglstered Gharity)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
13. statement of funds
Balance at
1 April
2023
Balance at
31 March
2024
Statement of funds -
Current year
Income
Expenditure Transfers
Unrestricted Funds
Designated funds
Fixed asset fund
12,478
(6,063)
6.415
General Funds
General fund
83,679
199,217 (213,848)
6.063
75,111
Total Unrestricted funds
96,157
199,217 {213,848)
81,526
Restricted funds
Tom's Trust
Jack Petchey Foundation
Special Project
13,610
900
10,000
{10,750)
(1.400}
{9,000)
2,860
500
1.000
500
24,510
(21,150)
3,860
Total of funds
96,657
223,727 (234,998)
85,386
The Fixed Asset fund represents the net book value of unrestricted tangible fixed assets. Each year
any additions or disposal movements are transferred between this fund and Unrestricted funds.
Unrestricted funds are general funds which are available for use at the discretion of the Trustees in
furtherance of the general objectives of the Charity and which have not been designated for other
purposes. The net transfer in of £6,063 relates to the depreciation of equipment in the period.
The Tom's Trust fund represents amounts received from Tom ap Rhys Pryce Memorial Trust to fund
the Aspiring Young Musicians project, which is for songwriting and music production tuition and the
Tom ap Rhys Pryce Music Bursary Awards to the Conservatoire, including partner nominations from
YUAF and Fairbeat Music. The additional Tom's Trust funds represent the new investment in the
Music Camps programme.
The Jack Petchey Foundation grant represents funds which are to be used for the Outstanding
Achievement awards presented to the Aspiring Young Musicians students.
The Special Project fund represents the donation from Matt Black towards MMC'S partner project
with Lionbeat Ltd to launch the BASSISBIKES {zero-carbon & visual mobile sound system) with
showcase events and audience developments.
Page 23

THE MIDI MUSIC COMPANY
(A company limited by guarantee and registered chartty)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
13. Statement of funds (continued)
Balance at
1 April
2022
Balance at
31 March
2023
Statement of funds -
Prior year
Income
Expenditure Transfers
Unrestricted Funds
Designated funds
Fixed asset fund
23,687
(11,209)
12,478
General Funds
General fund
71,175
206,529 (205,234)
11,209
83,679
Total Unrestricted funds
94,862
206,529 (205,234}
96,157
Restricted funds
Tom's Trust
Jack Petchey Foundation
10,000
900
(10,000)
(1,250)
850
500
850
10,900
{11,250)
500
Total of funds
95,712
217,429 (216,484)
96,657
Page 24

THE MIDI MUSIC COMPANY
(A company Iimlted by guarantee and registered charity)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
14. Analysis of net assets between funds
Analysis of net assets between funds
Current year
Unrestricted
nds
2024
Restricted
Funds
2024
Total
Funds
2024
Tangible fixed assets
Fixed asset investments
Current assets
Creditors due within one year
6,415
6,415
89,810
114,700)
3,860
93,670
(14,700)
Total
81,526
3,860
85,386
Analysis of net assets between funds
Prlor year
Unrestricted
funds
2023
Restricted
Funds
2023
Total
Funds
2023
Tangible fixed assets
Fixed asset investments
Current assets
Creditors due within one year
12,478
12,478
95.444
(11,766)
500
g5,944
(11,766)
Total
96,157
500
96.657
15.
Pension Commitments
The Charity operates a defined contribution pension scheme. The assets of the scheme are held
separately from those of the group in an independently administered fund. The pension cost charge
represents contributions payable by the Charity to the fund and amounted to £Nil (2023 . £105).
Contributions of £Nil (2023 . £Nil) were payable to the fund at the Balance Sheet date.
16. Related party transactions
The Executs've Director was not remunerated in the current or prior year for her role as a professional
artist manager. At the year end, there was an outstanding debtor balance of £Nil with the Executive
Director {2023 = £1,500}. There are no other related party transactions during the year other than the
Key Management Personnel remuneration shown in Note 7.
17.
Section 37 disclosure
The Charity has recognised total income from the London Borough of Lewisham of £30,592
(2023 = £30,000) in respect of grant aid for core costs. These funds were fully expended during the
year {2023 . fully expended). At 31 March 2024, £Nil (2023 .' £Nil) has been deferred to the next
financial year.
Page 25

THE MIDI MUSIC COMPANY
(A company limited by guarantee and registered charity)
INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 MARCH 2024
2024
2024
2023
2023
INCOME
Grants
Trust income
Hire services
Course fees
Interest receivable
Donations and other income
149,983
47,510
6,356
5,400
1,904
12,574
149,391
40.900
4,592
5,159
772
16,515
Total Income
223,727
217,429
EXPENDITURE
Salaries
Casual and self-employed staff
Premises and office running costs
Trainee costs
Documents and materials
staff travel, subsistence and training
Publicity
Bank charges
Music equipment maintenan
Depreciation
Governan￿ costs
Special projects
78,977
72,100
38,536
11,344
82,282
53,183
41,256
10,626
690
4,499
6,688
252
373
11,209
5,426
6,470
6,808
318
6,063
4,686
9,000
Total expenditure
234,998
216,484
Incomel(expenditure) for the reporting period
£(11,271)
£945
Page 26