**Charity registration number 1068710** 

**Company registration number 03487093 (England and Wales)** 

**COD A MUSIC AND ARTS TRUST LTD ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THEYEARENDED31AUGUST2024** 



CODA MUSIC AND ARTS TRUST LTD
LEGAL AND ADMINISTRATIVE INFORMATION
Trustees
MT T M Clark {Chair)
Mrs AJeffery
Ms E J Bovey
MrKCMann
Chlef Executive Offlcer
Mr Phil Hallett
Secretary
Mr P Halleit
Charlty number
1068710
Company number
03487093
Prlnclpal address
Che￿On Fami Road
Walkford
Chrlslchur¢h
Dorset
BH23 SQL
Reglstered offlce
Chewton Fami Road
Walkford
Christchurch
Dorsel
BH23 SQL
Independenl examlner
F J Wilde FCCA MBA DChA
Warner Wilde
4 Marigold Drive
Blsley
Surrey
GU24 9SF

CODA MUSIC AND ARTS TRUST LTD
CONTENTS
Page
Tru5tees' report
Independent examinels report
stalement of flnan¢ial actlvities
Summary income and expendllure a¢¢ount
10
Balance sheel
11
statement of cash flows
12
Notes lo the financial statements
13-26

CODA MUSIC AND ARTS TRUST LTD
TRUSTEES. REPORT {INCLUDING DIRECTORS. REPORT)
FOR THE YEAR ENDED 31 AUGUST 2024
The Truslees present their annual report and ffinancial statements for the year ended 31 August 2024.
The financial slatements have been prepared in accordance with the accounting policies sel oul in note 1 to the
flnancial sla18menls and comply wilh the charity's governing document, the Companies Act 2006 and "Accounting
and Reporting by Charities= Statement of Recommended Pracllce applicable to charities preparing their accounts in
accoydance wlth the Financial Reporting Standard applicable In the UK and Republic of Ireland (FRS 1021"
leffecllve l January 20191.
The Trustees have paid due regard to guidance tssued by Ihe Charity Commisslon In deciding whal activities the
charity should undertake.
Objectlves and a¢tlvltles
Coda was orlglnally established In 1992 and in 1997 Feglslered as Coda Mu8lc Trust Ltd wllh the Charity
Comm1381on (Reg. No 1068710) with the purpose of providlng education lo the public through muslc. In June
2023 Coda Music Trust Lld {Coda} joined with Hampshlre Art for Recrealion and Therapy (hArt) to become Coda
Muslc and Arts Trust Lld (Reglslered Charity No 1068710. Company No. 0378910).
The merger of our two charities has led lo an expanslon of Coda's objectives to include music and the arts, and a
slgnlficant increase In our creallv8 health and therapy pro9rammes to support the local communlly. For the
moment, our work beyond Music cenlres largely on the legacy projects from hArt bul In June 2024 we employed
H61dl Stellar lo lead our arts programmes al Coda in a new role as Creatlve Programme Director.
A¢hlevements and performance
Alongside these slgnificant organlsallonal changes. Ihe charity embarked on a substanllal capllal development
programme in 2023. Having secured Investment of £340,000 from Arts Council England together wlth funds from
The Talbol Village Trust, New Forest DlslTlct Councll, Sovereign Ne￿Ork Group, and numerous Indlvidual
donations includlng desSgn8led funds from our recent legacy glft, The Stables capital development project was
completed in September 2024. The beauliful new facilities al Co(la Include space for creatlve hogllh setvices,
alongslde learning, workshop, rehearsal and exhibilion spaces. This reglon suffers from slgnlficanl geographl¢al
barrlers lo setwlces and has been identified as an area of cultural deprivallon, and Coda seoks to provide an
engaging cultural participation programme thal respond lo nee(1 al a local 18V81. Our newly restored building
meets all currenl envlronmenlal and buildlng regulallons and is supporllng Coda's commitment lo reduce our
carbon footprint with the installation of PV solar panels and energy slorage.
Thls ambitious project, and a second development projecl (The Graln Store). started in October 2024 and due for
complellon In February 2025, are a slgnillcanl slep up In scale and expectation for the organlsalion. The
Trustees would Ilke lo express their sincere thanks lo everyone who has, and Is, conlrlbutlng to these new
facilltles which wlll be a much-needed community resource al a tlme when government and local authority
spendlng and resources are under enormous pressure.
The charity aims lo make a positiv8 impacl In our local community, tackling inequality through unlversal access lo
a broad range of artistlc 8nd creallve se￿ICe3 and dellverlng innovalivo education and health programmes with
people of all ages and abilities.
Our activities lake place at our home, a former Vlctorian farm slle purchased by Ihe charity In 2005, and on locallon
across East Dorsel, Bournemouth Chrislchurch and Poole (BCP) and In Ihe New Foresl and West Hampshlre area.
We belleve muslc and art is in our nature and that cultural, creativlty and artistic expression is cenlral to a happy
and fulfllllng life, bul over the pasl decade Coda's programmes and seTvlces have often responded lo..
The 51gnlficanl decllne In cultural provision in schools and a lack of relevant facllllles in allemative
communlty-based settlngs.
The loss of slalulory life-long loamlng opportunities. employment Iraining, and skills developmenl for both
adulls and young people.
The crisis in our heallh and social care sector. and the growing role of the arts In supporting health and well
being.
Coda has found a unlque place al the heart of Its local community and its popularlty and value to local people grows
year on year.

CODA MUSIC AND ARTS TRUST LTD
TRUSTEES. REPORT (INCLUDING DIRECTORS, REPORT} (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
Actlvlty In 202314
As at ALJgusl 2024 Coda's work regularly reaches more than 600 people each week, including some of the most
vulnerable children, young people and adulls in our local community- Through a wide and varied programme of
therapy and well being services to support those mst in need, and an engaging and Inclusive range of leaming
pyogrammes In the community, the Trust has provided a unique space lo a￿sS muslc and art.
Our learnlng programm8s are enjoyed by young and old alike at)d encnmpass.. An exemplary inslrumenlal leaching
service d8llvered on sile by a team of 18 part-lime music tutors and providing both Informal and formal learning
pathways wlth Ilnks lo music examlnatlon boards, in particular Trinity College London,. A range of social ensembles,
courses, and workshops for adults delivered by an excellent team of local muslcians and educators. Coda's muslc
ensembles such as Ihe Folk Orc. Ukulele Band, Campfire Band. Rusly Rockers and Heallh and Happlness Cholr
provide an opportunily to develop musical ability for adults, while also supporting w811 being, communlty and
frlendship.
Off slle, Coda's learning programme Is supported by the local Music Hub, Individual schools and local aulhorilSes
and after many years of experience working with Special Educallonal Needs and Disabilily ISENDI sellings in the
region, we have become a speclalist in Ihis sector.
Other communlty-based prolecls remaSn cenlral lo our work, offen engaging the more vulnerable people ID our
communlty and in 2023124 Coda's work In the community focussed on supportlng older people, people with
dlsabilities, and Ihose experienclng poor mentsl health.
Coda's work with older people in resldenllal care had eamed an Arts and Health South Wesl award but the
pandemic brought a dramatic hall to these seNices as care homes closed their doors lo people coming Into Ihelr
sellings. In 2022 Coda created a Jubilee Jam band that toured to residenllal dementia hom8s and hospice selllngs
lo celèbrate the Queen's Plallnum Jubile8 and In 2023r24 we secured support from NFU Mutual to rekindle our work
with older people and created a targeled programme of mu&¢, and then art aclivities wllh koy local partner8,
Coda 18 sltU8led in the mldsl of one of the largest populations of older people In Europe and our work Teflects a
growing body of evidence surrounding Ihe positive impact of muslc. and the arts on th8 health and w&ll being of
older peop18, Includlng a significant number of studles concerning the Impact of music on people with demenlla. Our
creatlve sessions aim to:
Encourage physical acllvlty lo support moloric abllity and CO￿rdInatIon.
Improve neurological aclivlty through concentrating on tasks thal Involve focused menlal acllvlly,
Imaginalion and memory:
Llft or prevent depresslon through insplring and purposeful activlty;
Express emollons by slnglng, Ilstening and playing muslc:
Help carerslfamily members of porsons with dementia see each olher In happy clrcumslances,,
Build frlendships among participants by providlng new experiences and conversations.
During Ihe year Coda responded lo an invitation from Royal Bournemouth Hospilal lo lake up residence on Ward 5,
an acute ward for palienls experiencing defflenlSa and delirium and through montli5y vislls we have supporled the
monlal health nurslng team's endeavours to bring new activity onto the ward and lo evidence the positive impacl of
muslc on both patients and staff.

CODA MUSIC AND ARTS TRUST LTD
TRUSTEES, REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
NFU Mulual's support also enabled us lo create a new Memory Band led by musician Stuart Jebbill with B band of
local amaleur musicians drawn from Coda's weekty soci21 ensembles to perform in residential care homes across
the New Forest and al some key local community events such as the opening of the Dementia friendly allotment In
New Milton.
The success and value of this work has led lo a donation by Mudeford Arts Festival to wlden the programme to
include art therapy and in 2025 we will increase our work on Ward 5 to offer monthly arts sessions lo patients, as
well as mu81C.
This focus on older people also led lo us rekindling our work with people with Parkinson's Disease and, wlth new
Music Therapist Flona Prilchard having undergone Sing To The Beal tralning lo supporl her practice in Ihls area, a
slnglngllherapy group was promoted locally and allracled immediate Interest. Parkinson's is a neuro degenerative
dSsease wlth main dangers in the latter stages from falls and pneumonia or Tespiratory failure caused by the
symptoms of the disease. It Is widely acknowledged that both dance and singing can be of great benefit and from
Coda's perspedive the prol8cI meets a need that the Nl.IS cannol meel
ongoing physlcal IheTapy and menlal
health sUPPOrt for people with Parkinson's In the community following dlagnosls. 11 also tries lo provide a bridge
between primary care and social care working across GPS, soclal prescribers, Parkln80n's UK, professional soclal
Care teams and famlly carers lo help people with Parkinson's manage their journey over the long term. Participation
and abllity were moniloied throughout the work and Improvemenls in physlcal movemenl, coordinatlon, muslcallty,
vocal technique and socSallsalion and mood have been 8lgnlfic8nt. Ihis group at capacity. Coda will start a
second group in 2025 to meet demand.
The health benefits of muslc and dance was explored In anolher way this year also. Our Daytime Discos project
responded to Hampshlre Counly Councll's Active Lives scheme. a programme seeklng lo Increase physical activity
among the least active people in our communlty. Coda designed a prevenlalive healthc2￿ programme lor adulls
wllh learning dlsabi15lles and collaborated with a number of local care providers lo dellver fun and engaging dlscos
facllltaled by a professional dancer. Sessions look place In Minslead Trust, The Shelllng School, Stable Family
Home Trust and New Milton Gateway Club and provod a joyful and dynamlc opportunity lo gel acllve by danclng lo
wonderful musl¢.
To compliment Ihesg dayllme dlscos we worked with Hoburne Holidays lo provlde two speclal Club Nights al the
local Hoburne Nalsh 8vents space In New Milton. With muslc Irom Ihe Mix It up Krv DJ'S, a group of learning
disab18d DJS from Poole, and live muslc on slage Ihese two nights proved masslvely popular wllh our target
audience, allracllng almost 200 people and providing an all loo rare opportunlty for people with dlsablllly and
neurodiveTgence, Ihelr lamlly and carers lo experience a Club nlght out.
More generally, demand for our Muslc Therapy service has been growing slnce the pandemlc and durlng the year
Music Theraplst Veronlca Launn joined Owaln Clarke in providing one lo one Music Therapy lo clients hero al Coda,
and now Fion8 Prltchard, who had undertaken a placement al Coda while studylng al UWE, has joined our leam,
initially lo run Ihe Parkinson's Choir bul now to work wilh indNidual cllenls also.
Demand for the Creallve Well Being programme, a hArt legacy project that supports people experiencing mental
health problems, has also grown in 2023124 and, wilh a £20,000 grant trom The National Lottery Community Fund
we have baen able lo continue lo offer regular art Iherapy sesslon5 al no cosl to local adulls and added a flfth
weekly session in Somerford, Chrlstchurch.
The poslllve Impact of art theRpy in supporting people's mental heallh was also recognlsed by Hampshlre County
Council who commlssloned Coda lo deliver a programme of work through their Famlty Support SeNices team for
chlldren and Ihelr prlmary carers.

CODA MUSIC AND ARTS TRUST LTD
TRUSTEES. REPORT {INCLUDING DIRECTORS, REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
Fundraislng
Coda Music Trust Is extremely graleful lo those charllable trusts and other partners for their interest in Ihe work of
the Ttust and for Ihelr invaluable support. During the year much of our focu8 ¢entred Dn iealising our capllal
programme bul we have also worked hard lo relain relationships with e￿stIng funders and supporters, and to
secure support for the programmes inhetited from our merger with hAri. In 2023124 thls included grants from the
Nallonal Lollery Community Fund and local town and parish courscll5.
We welcome Ihe support of The Burry Trust and the many Individual donors playing our lottery scheme for Ihelr
support for the bursaries that enables many Indivlduals to a￿sS our service5 al low, or no cost.. To NFU MutU81,
and lo The End of The Road F8sUval for their contlnued association and donations lo Coda to suppori essential
aspects of our work wllh local people. The Trust also received support for our work Ihrough grants, conlracls and
commlsslons from our Immediate local authorilles. lown and parish councils, Including New Mllton TC, Lymlngton
and Pennington TC. New Forest Dlstricl council. Hampshire County Councll, and Bournemoulh. ChrSstchurch and
Poole Council.
The development of the Stables 81 Coda has been a major prolect for the charity and required slgnlfi¢ant Investment
In tlme and funds. We belleve the support provided by Arts Council England, The Tslbol Village Trust, New Forest
Dlstrlcl Council and m8ny Individual donors will provide a wonderful facillly for the local community and a shSning
beacon for cultural participation In Ihe region. Durlng Ihe year, Coda also secured a Communlly Infraslructure Levy
ICIL) glant from New Forest Distrlct Council and a significant Individu81 donallon to enable us lo lackle a flnal
devèlopment prolecl, Ir8nsforming the derelicl Grain Store into a flexible workshop space.
Flnanclal revlew
The flnanclal actlvilies of th6 charity are closely monitored by tho execullve team and Trustees and a monthly
cashflow review and forecast, togelher with quarterly management accounts and an annual review ensure that
Income and expendlture are carefully monllored.
Coda engages an Sndependent book keep8r, Tamsyn Beach lo manage accounllng and payroll commilmenls. In
2024 Ihe charity deregislered from VAT followlng advice from external consultants. The VAT Consultancy and we
are grateful lo Tamsyn Lane for her support with this process.
Careful overhead control combined with effedlve fijndralslng and Increased charitable Income has contlnued to
ensure that the Trust continues lo repay its loans. The remalnlng borrowing represents a mortgage taken out to buy
the sile for the charlly with a remainlng term of 7 years.
Despite Ihe conllnulng dlfficulties faced by smaller charilles and SME'S In the current, uncertain economlc cllmate,
the Trustees see a healthy future in Ihe short and medium lerm.
Reserve$ pollcy
In accordance wilh the Charlly SORP, it is a requlrement of Trustees lo justify tho retention of Income as reserves
and to continuously monilor the level of ieserves. During Ils firsl 25 years Coda's development cosls have been
mel eilher with specific gr8nls and donations or borrowing. However, since the granting of an Arts Council England
award to enhance ils fundraislng skills and slralegies in 2017 and Ihe subsequent rise in Indlvidual donatlons
recelved, alongside the recenl Orive lo raise funds lo support the lalesl stage in tho capital developmenl of the
Chrlslchurch site, Coda Is now in a stronger financlal posllion.
Our recent capllal development plans have provided the charity v￿th the opporlunily to undertake many of its long-
held amblllons to transform the remainder of our fomier fami sile into cultural facilities for the community. Thls
development wlll enh8nce the cultural Offer of the charity and en8ble it to move a significanl slep towards 118
rinancial viability in the long lerm. However, Ihe charily does now need lo meet the challenge of Increaslng Ils
customer base, partlcularly in its new areas of operation. Therefore 115 reserves policy should now reflecl the need
to prolecl its opeialional costs during this next phase of organisational developmenl and provlde as much cover as
possible towards a predicted annual shortfall between income and expenditure for the forthcoming accounllng
period. Change at Coda comes al a time of major cost challenges to charities in Ihe UK due lo further Inflation and
increases in Employers Nl bul we contlnue lo manage the charlly's finan￿S with care and diligenGe.

CODA MUSIC AND ARTS TRUST LTD
TRUSTEES, REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
Durlng the year to 31 Augusl 2024. the Charity drew on designated funds to support the capllal development project
and operational costs as necessary.
It is the Trustees longer-term intention lo continue to build reserves for Ihe charity that would give a financial buffer
of 81 leasl 6 months operation lo ensure the long-lerm prosperity of the charily. The Trustees consider that reserves
al IhS6 level will ensure that, in the event of a significant drop in funding, they will be able lo continue the Trust's
current aclivllies while considerallon Is given to ways in which additional funds may be raised.
Rlsk pollcy
In con}uncllon wllh ils reserves policy, Ihe charity actively manages its risks by carrying out a regular review across
all areas of aclSvlly in order lo identify, priorilise arKI mitigale risks to the charity incltsdlng mitigation of flnanclal rlsks
and the need to malnlaln the financial stability of the charity whlGh include managlng ils fund raislng and the
provision of reserves lo cover any short-lerm financial Shortlall whllsl the currenl development phase is in progress.
structure, governancè and management
Coda MLtslc and Arts Trust Llmlled (Coda) Is a Company Llmlled by guaranlee and is a registered charity operating
from Ils former fann sile on Chewlon Farm Road, Walklord. Chrislchur¢h. Dorsel. It Is governed by ils Memorandum
and Artlcles ofAssoclallon and was incDfpofaled on 30 December 1997.
The Trustees, who are also the dlrectors for the purpose of company law, and who served durlng the year and up lo
the date of slgnalure of the financial slalemenls were..
Mr T M Clark (Chalr)
MrsA Jeffery
Ms E J Bovey
MrKCMann
Recruitment and appolntment of trustees
Trustees are recrulled locally by the charity through conlacls and publlc appeal and are 8ppoinled 5ublecl to a six-
month proballon. Trustee selection Is made by existing Trustees working with Ihe Chlef Execullve and is based on
relevant charitable and business skllls plus enthusiasm and molivallon lo help make a dlfference. No Trustee has
any beneficial In18resl In Ihe company or received any remuneration or other paym8nl from the company In the year.
The Trustees are elected from and by the Member8 of Ihe charity who affj enlilled to vote al Annual Gen8ral and
Extraordlnary General Meetings of the Trust.
Coda operates wilh a small but efficient adminislralive and management team headed by Ihe Chief Executlve
Officer (CEO) Phll Hallett, Centre Manager Amie McAndrew, Marketing and Promotions Officer Marlna Tucker,
M8rtln Peltett as Heallh and Well-Being Manager and, since June 2024, Heldl Stellar as Creallve Programme
Director (Aris).
The Trust employs a team of up to 25 part-lirne Tnuslc educators and freelance muslc and art facililalors and
Iherapisls. The malorlty of staff are on PAYE fixed term Gontracls complying wilh the Inland Revenue IR35
Regulations and Employment Legislation.
Vve also benefll from the gènerous help of many volunteers lo deliver our work, and lo manage our sile and thelr
supporl Is essentlal to the success of the charlty.
All staff, volunteers and Trustees undergo enhanced DBS checks. Coda is commilted lo equality and accessibillty
and its Safeguardlng Policy. Health and Safely Policy and Equal Opportunities Policy for bolh staff and users are
central to ils work. Professional development opportunities and Iralnlng are offered lo slaff throughout Ihe year
using online courses from iHasco and a range of other providers.
None of the Trustees has any beneficial interest in the company. All of the Truslees are members of the company
and guaranlee to conlrlbute £1 in Ihe event of a winding up.

CODA MUSIC AND ARTS TRUST LTD
TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
Th
ruslees, report was approved by the Board of Trusiees.
Mr T M Clark {Chairl
Trustee
Dale..

## **CODA MUSIC AND ARTS TRUST LTD** 

## **INDEPENDENT EXAMINER'S REPORT** 

## **TO THE TRUSTEES OF CODA MUSIC AND ARTS TRUST LTD** 

I report to the Trustees on my examination of the financial statements of Coda Music and Arts Trust Ltd (the charity) for the year ended 31 August 2024. 

## **Responsibilities and basis of report** 

As the Trustees of the charity (and also its directors for the purposes of company law) you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006 (the 2006 Act). 

Having satisfied myself that the financial statements of the charity 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 the charity's financial statements carried out under section 145 of the Charities Act 2011 (the 2011 Act). In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act. 

## **Independent examiner's statement** 

Since the charity's gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of the Association of Chartered Certified Accountants, which is one of the listed bodies. 

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect: 

- 1 accounting records were not kept in respect of the charity as required by section 386 of the 2006 Act; or 2 the financial statements do not accord with those records; or 

- 3 the financial statements do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination; or 

- 4 the financial statements have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102). 

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the financial statements to be reached. 

## **F J Wilde FCCA MBA DChA** 

Warner Wilde 4 Marigold Drive Bisley Surrey GU24 9SF 

Dated: .... 15th May 2025 

- 7 - 



CODA MUSIC AND ARTS TRUST LTD
STATEMENT OF FINANCIAL ACTIVITIES
FOR THE YEAR ENDED 31 AUGUST 2024
Current financlal year
Unrestrlcted Unrestrlcted Restrlcted Endowment
fund5
funds
funds
funds
general deslgnated
fund
2024
Total
Total
2024
2024
2024
2024
2023
Notes
Income from:
Donalions.1ggacles and
grants
Charitable actlvllles
Inveslments
18,3(K)
240,465
18,381
7.489
342,086
305,210
673,085
240,465
18,381
663,796
244,855
5,678
Total Income and
endowments
277,146
7,489
342,086
305,210
931,931
914,329
Expendlture on,.
Ra181ng funds
Charitable acllvllles
729
342,396
729
383,857
290
314,782
26.375
15,088
Total expendlturo
343,125
26,375
15,086
384,586
315,072
Net Ineomellexpendlturo)
(65,979)
(18,886)
327.000
305,210
547,345
599,257
Transfers between funds
{100,385)
98,511
1,874
Net movemènt In fundg
1166,364)
79.625
328.874
305,210
547,345
599,257
Reconclllatlon of funds:
Fund balances al 1 September
2023
531,765
540.¢)00
35,784
1,107,549
508,292
Fund balance3 at 31 August
2024
365,401
619.625
364,658
305,210 1,654,894 1,107,549
The slalemenl of financlal aclivilies Includes all gains and losses recognised In the year. All Income and expendlture
derive from Conlinuing activities.

CODA MUSIC AND ARTS TRUST LTD
STATEMENT OF FINANCIAL ACTIVITIES (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
Prlor financial year
Unrestrlcted Unrestricted
funds
funds
general designated
fund
2023
Restricted
funds
Total
2023
2023
2023
Notes
Income from:
Donallons, legacies and grants
Charitable activilies
Investments
617.824
242,355
5.678
45,972
2,500
663,796
244,855
5,678
Total Income and endowments
865,857
48,472
914,329
Expendlture on:
Ralslng funds
Charllable edivitles
290
293,302
290
314,782
21,480
Total expendlture
293,592
21,480
315,072
Net Income
572,265
26,992
599,257
Transfers between funds
(540,¢)CM))
540,000
Net movement In funds
32,265
540,000
26,992
599,257
Reconclllatlon ol fund8:
Fund balances at 1 September 2022
499,500
8,792
508,292
Fund balance8 at 31 August 2023
531,765
540,000
35,784
1,107,549

CODA MUSIC AND ARTS TRUST LTD
SUMMARY INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 AUGUST 2024
All Income funds
2024
2023
Gross Income
626.721
914,329
Total expendllure from Income funds
384,586
315,072
Net sncome for the year
242.135
599,257
10-

CODA MUSIC AND ARTS TRUST LTD
BALANCE SHEET
AS AT31 AUGUST 2024
2024
2023
Notes
Flxed assets
Tangible assets
13
1.459,941
659.644
Current assets
Debtors
Cash al bank and in hand
14
5,392
298.232
8,384
537,952
303,624
548,336
Credltor8: amounts falllng due wlthln
one year
16
(45.072)
123.386)
Net Current assets
258,552
522,950
Total agsets less current IlabllStles
1,718,493
1,182,594
Credltors: amounts falllng due after
more than one year
17
163,599)
(75,045)
Net assets
1.654,894
1,107,549
The funds of the charity
Endowment funds
Reslricted Income funds
Unrestrlcl8d funds - general
Unrestrlcled funds deslgnated fund
19
20
22
21
305,210
364,658
365,401
619,625
35,784
531,765
540,000
1,654,894
1.107,549
The company Is entllled lo the exemption from the audit requiremenl Contained In seGlion 477 of the Companies Act
2006, for the year ended 31 August 2024.
The dlreclors acknowledge their responslbllllies for complying with Ihe requlremenls of the Companlas Act 2006
wllh respect lo accounting records and the preparats'on of financlal slatemenls.
The members have not requlred Ihe coffpany to obtaln an audit of Ils financial stalemenls for the year In question In
accordance with sectlon 476.
These financial statements have been prepared in accordance wlth the provislons applicable to companles subject
lo the small companles regime.
The financlal slalemenls were approved by the Trustees on ...
Mr T M Clark (Chair)
Trustee
Company regislralion number 03487093 (England and Wales)
11

CODA MUSIC AND ARTS TRUST LTD
STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 AUGUST 2024
2024
2023
Notes
ash f lows from operatlng actlvltles
Cash gonerated from operations
25
557,301
598,314
Investlng actlvltles
Purchase of tangible fixed assets
Investment income recelved
{804,470)
18,381
(189,923)
5,678
Net cash used In Investlng actlviti
(786,089)
(184,245)
FinancSng actlvltles
Repayment of bank loans
(10,932)
115,934)
Npt cash used In flnancing actlvities
(10,932)
{15,934)
Net {decreas8lllncrea8e In cash and cash
èqulvalents
(239,720)
398,135
Cash and cash equivalents al beglnnlng of year
537,952
139,816
Cash and cash equlvalent8 at end of year
298.232
537,952
12-

CODA MUSIC AND ARTS TRUST LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024
Accountlng pollcles
Charlty information
Coda Music and Arts Trust Lld is a private company Ilmlled by guarantee Incorporated in England and Wales.
The registered office is Chewton Faim Road. Walkford. Christchurch, Dorset. BH23 SQL.
1.1 Accountlng convention
The ff nancial stalemenls have been prepared in accordance with the charlty's goveming document, the
Companles Ad 2006, FRS 102 'The Flnancial Reporting Standard applicable In the UK and Republlc of
Ireland. (°FRS 102.1 and the Charities SORP "Accounting and Reportlng by Charilies.. Statement of
Recommended PTaclice applicab18 to charities preparing their accounts In accordance with the Flnanci81
Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)" leffeclive 1 January 2019). The
charlty is a Publlc Benefit Entity as defined by FRS 102.
The financial statements ar8 pr8pared in st8rling, whlch Is the fun¢tional currency of the charity. Monetary
amounts In these financlal statements are rounded to the nearest £.
The financial statements have been prepared under the historical Cost convention. The princlpal accounllng
policies adopted are set oul below.
1.2 Golng concern
Al the tlme of approving the financial slalements, the Trustees hava a reasonable expectation that the charity
has adequate resources to conlinue in operalional exlslence for Ihe foreseeable future. Thus the Trustees
conllnue to adopt the golng concern basis of ac¢ountlng In preparing Ihe financial slatomenls.
1.3 Charitable funds
Unrestricted funds are avallable for use at the discretion of the Tru51ees ID furtherance of thelr charitable
objectlves.
Re51ricled funds are sublecl lo speclflc condillons by donors or granlors as lo how they may be used. The
purposes and uses of Ihe reslrlcted funds are sel out In the notes to the financlal statements.
Endowment funds are subfvt to specif￿ condltlons by donors that the capltal must be malnlained by the
charily.
1.4 Incomo
Income Is recognlsed when the charlty Is legally entllled to it after any performance condltlons have been met,
the amounts can be measured reliabty, and il is probable Ihal Income will be received.
Cash donations are recognised on receipt. Olher donatlons are recognised once the charity has been nolified
of the donalion. unless perfomiance conditions require deferral of the amount. Income lax recoverable In
relation lo donations received under Gift or deeds of ￿￿enant is r6cognlsed 81 the Ilme of the donation.
Legacles are recognlsed on fecolpt or otherwise if the charity has been notified of an impendlng dlslribulion,
the amount Is known, and recelpt is expecled. If the amount is not known, Ihe legacy Is Irealed as a
contingent asset.
13-

CODA MUSIC AND ARTS TRUST LTD
NOTES TO THE FINANCIAL STATEMENTS {CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
Accounting pollcies
(Contlnuedl
1.6 Expendlture
Expenditure is recognised once there Is a legal or conslructive obligation lo transfer economlc benefit lo a
third party, it 18 probable th81 a Iransfer of economic benefits will be required in settlement, and Ihe amount of
the obligation can be measured rellably.
Expendlture Is classifled by actlvity. The costs of each activity are made up of the lolal of direct costs and
shared costs, Including support costs involved in undertaking each activity. Dlrecl cosls allribulable lo a single
activlty are allocated direclly lo thal aclivity. Shared costs which contribute to more than one acllvlty and
support costs whlch are not atlributable lo a single aclivlty are apportioned between those aclivilles on a basis
conslslgnl wilh Ihe use of resources. Central staff costs are allocaled on the basis of lime spent, and
depreciatlon charges are allocaled on the portlon of the assefs use.
1,6 Tanglble flxed asset8
Tangible fixed assets are Inllially measured at cost and subsequently measured al cost or valuallon, net of
depre¢lation and any Impairrnenl losses.
Depreclation 18 recognlsed so as to write off the cost or valuallon of assets loss thelr resldual values over thelr
useful lives on the followlng bases..
Land and buildlngs
Instruments
Compuler equipment
Nll {5mprovements at 2% stralghl Ilne>
25% slraight line
25% slralghl Ilne
The galn or loss arlsing on the dlsposal Of an assel16 determlned as the dlfference between the sale proceeds
and the carrylng value of the assel, and Is recognlsed In Ihe statement of financlal activltles.
1.7 Impalmient of flxed assets
At each reporling end dale, the charity re￿ewS the carrylng amounts of Ils langlble assets to delermlne
whether there is any Indication Ihal those assels have suffered an Impairm8nl loss. If any such indlcallon
exlsts, Ihe recoverable amounl of the asset is eslimaled in order lo determine the extent of the Impalrment
loss (If any).
1.8 Cash and cash equivalent8
Cash and cash equlvalenls include cash in hand, deposlls held al call wlth banks, other short-term liquld
Investments wlth original malurilies of three months or less, and bank overdrafts. Bank overdrafts are shown
withln borrowings In current Ilabililies.
1.9 Flnanclal Instruments
The charity has elected to apply the provisions of Seotion 11 'Baslc Flnanclal Inslruments, and Secllon 12
'Olher Flnancial Instruments Issues. of FRS 102 to all of its financlal inslnjments.
Flnanclal Inslruments are recognised In Ihe charlty's balance sheet when the charily becomes party lo the
contractual provisions of the inslrument.
Financlal assets and liabililles are offsel, wllh the net amounts presented In the financial stalemenls, when
IheTe Is a legally enforceable right lo sel off the recognised amounls and there is an Intenlion lo settle on a n81
basis or lo realise the asset and settle the liablllty simulta￿oUsly.
14-

CODA MUSIC AND ARTS TRUST LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
Accountlng pollcles
Icontlnued)
Basic financial assets
B8sic finanThal assets, whlch indude debtors and cash and bank balances, are initially measured al
Iransaction prl¢e includlng tfansacllon costs and are subsequently carried at amortised cost using Ihe effecllve
interest method unless the arrangement con5titules a financing transaction, where the transaction Is
measured al the presenl value of the fulure recelpts discounted at a market rate of Interest. Financlal assets
clas8ifled as receivable within one year are nol atmrtised.
Basic financial Ilabilities
Baslc financlal liabilities, includlng creditors and bank loans are initially recognlsed at Iransactlon prlce unless
the arrangemgnl conslitules a financing transaction, wheie Ihe debt Instrument Is measured at the present
value of the fulure payments discounted at a market rale of inter8sI. Financial liabllltles classlfied as payable
wilhln one year are nol amortls8d.
Debt instruments are subsequently carrled at amortised cost, using the effecllve inleresl rate method.
Trade creditors are obllgatlons lo pay for goods or servlces that have been acqulred in th& OTdinary course of
operalions from suppliers. Amounts payable are classified as current liablllties If payment Is due wllhln one
year or less. If not, they are presented as non-CUTrenl Ilabllities. Trade cred51or5 ar8 recognlsed inltlally al
transactlon prlce and subsequently measured at amortlsed cost uslng the effective Interest method.
Derecognltlon of flnancial liablllties
Financlal liabllllles are derecognlsed when Ihe charlly's contractU81 obllgalions expire or are dlscharged or
cancelled.
1.10 Employee beneflts
The cost of any unused hollday enllllèment is re¢ognlsed In Ihe perlod in which the employ8e's servlces are
recélved.
Terminallon benefits are recognised Immediately as an expense when the charity Is demonslrably commilled
to tèrminate the employmenl of an employ80 or lo provide lermlnation benefits.
1.11 Retlrement beneflts
Payments to defined Conlribullon retirement benefit schemes are charged as an expense as Ihey fall due.
1.12 Leases
Crltlcal accountlng estlmates and ludgements
In Ihe applicatlon of the charity's ac¢ounling pollcl8s. the Tnjslees are requlred to make judgements,
esllmates and assumptions about Ihe carrying atrnunl of assels and Ilabilitie8 that are not readily apparent
from olher sources. The eslimales and associated assumptions are based on hislorical experlence and other
factors Ihal are considered to be relevant. Actual resulls may differ from thèse estimates.
The eslimales and underlying assumptions are reviewed on an ongoing basis. Revislons lo accounllng
estimates are recognised in the period in which Ihe eslimate is revised where the revision affects only that
perlod, or In the period of Ihe revision and future perK)ds where the Tevision affects both ourrenl and future
perlods.
15-

CODA MUSIC AND ARTS TRUST LTD
NOTES TO THE FINANCIAL STATEMENTS ICONTINUEDI
FOR THE YEAR ENDED 31 AUGUST 2024
Incom• from donallons, lègacle8 and grants
Llnr•glrlGlqd Unr•*trfclvd Rest￿¢1•d End4¥kn￿ont
funds
lundA
fvnds
lund•
geMi•l ¢108bgnol•d
fund
2024
T*)t•l Urmldctpd Llnr8$trlctsd R•tstrlcted Endovrnwt
lund*
fund¥
lunds
fuNd&
n•rAI de•lgn*¢gd
lun
2023
2D24
2024
?024
2074
202J
202J
2023
2023
Donqlknns and
LeBa¢188
Gyan18
Donaled good8 and
10,3
252,fK4J
282.UCrfI
93.971
9)),910
16,943
44,472
138.443
6(K),910
18,443
8.0
7,489
89.5e8 311S210
402.285
1,6TrJ
18,3
7.400
342,086
.210
sn,(￿5
617.824
45,972
6e3,798

CODA MUSIC AND ARTS TRUST LTD
NOTES TO THE FINANCIAL STATEMENTS {CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
Income from charltable aetlvltles
Unrestrlcted Restrlcled
funds
funds
2024
2024
Total Un￿StrICted Restrlcted
funds
funds
2023
2023
Total
2024
2023
CODA
Income from aclfvltles
SeNices provlded undor
contract
Charilable rental Income
214,614
214,614
215,633
215,633
25,851
25.851
18,082
520
2.500
20,582
520
hArt
Services provid8d under
contract
8,120
8,120
240.485
240,465
242,355
2,500
244,855
Income from Investmonts
Unrestrlcted Unrestrlcted
fund8
funds
2024
2023
Inlerest recelvable
18,381
5.678
Expendlture on ral8lng fund8
Unrestrlcted Unrestrlcted
funds
fund5
2024
2023
Fundralslng and publlcity
Adv8rtlslng
729
290
17-

CODA MUSIC AND ARTS TRUST LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
Expendlture on charitablè actlvlties
CODA
2024
CODA
2023
hArt
2023
Total
2023
Dlrect costs
staff costs
Oepreclation and impaimient
Music tuillon and leamlng
MusldArt for heallh and well-being
126,913
4.173
37,219
35.121
110.801
3,708
48,867
20,786
2,121
112,922
3,708
48,867
28,194
7,408
203,426
184,162
9,529
193,691
Share of support and govèrnance costs (see note 8)
Support
Governance
160,862
19,569
116,044
4,898
149
116,193
4,898
383,857
305.104
9,678
314,782
Analy818 by fund
Unrestricted funds - general
Unrestricted funds deslgnaled fund
Reslrlcled funds
342.396
26,375
15,086
286,652
6,850
293,302
18,452
3,028
21,480
383,857
305,104
9,678
314,782
Support costs allocated to actlvltle3
2024
2023
Staff costs
Admlnislralion
PTemlses
Flnance
119,119
9,383
14,202
11,230
1.008
4,448
1,472
19,569
86.334
5,858
7,888
10,797
780
3,124
1,412
4,898
Insurance
Other support cosls
Governance cosls
180,431
121,091
Analysed between:
CODA
hArt
180,431
120,942
149
180,431
121,091
18-

CODA MUSIC AND ARTS TRUST LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
Support Costs allocated to actlvltles
IContlnued}
2024
2023
Governance costs comprise:
other gov8mance cosls
Independent examiner
16,830
2,739
2,221
2,677
19,569
4,898
Govefnance costs include5 paymenls to the independenl examiner of £2,744 for accounts preparatSon and
independent examinalion12023.. £2,664).
Net movement In funds
2024
2023
The net movement in funds is stated after charglngl(crediling):
Depreciatlon of owned tanglble fixed assets
4,174
3,709
Depreciatlon of langibles.. Total SOFA charge differs from BS notes by..
10 Trustee8
None of the Trustees (or any persons connected with Ihem) received any remunerallon or benefits from the
charlty during the year.
11 Employees
The average monthly number of effoloyees during the year w8S:
2024
Number
2023
Number
Therapy l Tulllon
Adminislratlve
Total
11
10
Employment costs
2024
2023
Wages and salaries
Social security cosls
Olher penslon costs
236,135
6,615
3,282
190,913
5,588
2,755
246.032
199,256
19-

CODA MUSIC AND ARTS TRUST LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
11 Employees
Iconllnuedl
The average number of employees Is expressed as a full-lime equlvalenl.
Key management personnel is defined as the Chief Executlve iole only.
There were no employees whose annual remunerallon was more than £60,000.
Remuneratlon of key management personnèl
The remunoralion of key management personnel was as follows:
2024
2023
Aggregate compensation
51,906
42,638
12 Taxatlon
The charity Is exempl from taxallon on its actlvities because all ils income is applled for charltable purposes.
13 Tanglble flxed asset8
Land ond As$o1• under In¥trument8
Iiulldlng8 ¢onslrucllon
CompulÉr
equlpm•nt
Total
Cost
At 1 S6plember 2023
AddS1ions
691,807
706,140
16,098
3,000
710,903
804,470
98,330
Al 31 August 2024
1,397.947
98.330
16,098
3,000 1,515,373
Depreclatlon and Impalrment
Al 1 September 2023
Depreciation Charged In th6 year
33,158
3,178
15,859
237
2,241
759
51,258
4,174
At 31 August 2024
36,336
16,096
3,000
55,432
Carrying amount
Al 31 August 2024
1,361,611
98,330
1,459,941
At 31 Augusl 2023
658,648
237
759
659,644
-20-

CODA MUSIC AND ARTS TRUST LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
13 Tanglble fixed assets
(Contlnued)
The carrylng value of land Included In land and bulldings comprises:
Freehold property (acqulred 200314) - an Impairment review Is ¢811ied oul annually to ensurè that the carrylng
value In the accounts is nol overstaled. No depfecialion is charged.
Propety Improvements{200710 2016} - these are depreciated al 29A a year
Stable5 Development (202314) - lo be depreciated al 2% a year once In use12024151
Grain Store120241- development In progress. lo be depreciated al 2Vo a year once In use.
14 Debtors
2024
2023
Amounts falllng due wlthSn one year.
Trade debtors
5,392
8,384
16 Loans and overdrafts
2024
2023
Bank loans
74,793
85,725
Payable wilhSn one ye8r
Payable after one year
11,194
63,599
10,680
75,045
There Is a term of 7 years remainlng on the mortgage whlch Is secured on the chaTity's premi58s. This is
subject to Interest al 2% ov8r base rate, calcuialed daity.
16 Creditors: amounts falllng due wlthln one year
2024
2023
Notes
Bank loans
Other taxation and social security
Trade credllors
Other creditors
Accruals and d8forred income
15
11.194
260
29,968
836
2,814
10,680
1,276
7,062
1,704
2,664
45,072
23,386
17 Credltors: amounts falllng duo alter more than one year
2024
2023
Notes
Bank loans
15
63,599
75,045
21

CODA MUSIC AND ARTS TRUST LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
18 Retlrement beneflt schemes
2024
2023
Deflned contrlbutlon schemes
Charge lo profit or loss In respect of defined conlrlbulion schemes
3,282
2,755
The charlty operates a defined contribulion pension scheme for all qualifylng employees. The assets of the
soheme are held separaloly from those of Ihe charity In an independently admlnlstered fund.
19 Endowmènt funds
Endowment funds represent assels which must be held permanently by the charfty Income arislng on the
endowment funds can be used in accordance with the objects of the charlty and is included as unreslrlcted
Incom8. Any capital galns or losses arislng on Ihe assets fonn part of th8 fijnd.
At1
September
2023
Ineomlng At 31 August
resources
2024
Expendable endowments
Stables Dèvelopment - ACE
305,210
305,210
stables Development - ACE. this fund represents Arts Councll England lundlng for the development of the
stables. This fund Is represenled by the value of the development in tangible fixed assets and will be reduced
by depr8clallon each yèar over Ihe life of the work.
20 Restrlcled funds
The r8Strlcled funds of the charity comprlse the unexpended balances of donations and grants held on trust
subject to speclflc conditions by donors as to how they may be used.
At1
September
2023
Ineomlng
resources
Resources
expended
Transfors At 31 August
2024
Fiddle Orchestra
hArt- Arts on Prescription
hArt- Well Being
Stables Development
Beautiful muslc
Annie Jeffery - Graln Store
Development
1,415
9,913
3,837
20.619
(3,289)
1,874
9,913
14,839
91,166
(1,2601
21.000
71,086
(9,998)
1539)
(1,260)
250.000
250,000
35.784
342,086
{15,086)
1,874
364,658
-22-

CODA MUSIC AND ARTS TRUST LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
20 Restrlcted funds
(Contlnued)
Prevlous year:
At1
September
2022
Incoming
resources
Resources
expended
Transfers At 31 August
2023
20,619
(9,660)
(8,792)
(377)
(2,651)
{20,619)
20,619
1,415
Flddle Orchestra
Hampshlre County Council
hArt - Arts on Prescriplion
hArt- Well Being
Stables Development
11.075
8.792
10.290
6.488
20,619
9,913
3,837
8,792
48,472
21.480
35,784
Hampshlre County Councll: adults health & care grant fvnding for the Get Golng Again Prolecl.
The Coda Flddle Orchestra: After two decades of dellvery In Boscombe In Bournemoulh thls ￿mMUnItY
prolecl came to an end following the retlrement of118 Dlredor Jack Maguire and Coda's declsion lo focus Its
aclivltles In other areas.
Stables Development- Coda has embarked on a slgnificant capital development project to Ifansform
dllapidaled agricultural buildlngs at our home into dynamic communlty assets lo provide a vlbranl, creallva
space for people of all ages and abilities. The new facilities will be enjoyed by hundreds of people of all ages
and abilltles each week.. A home to artists making professional work In dedlcated stud108 and insplrlng an
exhlbition programme fealuring local, national and Intemation81 praclilioners,. A wide ranglng programme of
educallonal activities, skills development and training. Including art dasses for chlldren and workshops for
adulls,, And a clinical and participatory programm8 uslng the arts as a tool for Iherapy, health and well being.
hArt Art9 on Prescrlptlon: Arl Therapy pro9rammes for people with menlal heallh Issues.
hArt Well Belng., Creallve Well Belng workshops for people with mental heallh issues.
Annle Jelfery Graln Store.. a donallon for the development of the grain store. Thls fund will be released lo
Ihe Slalement of Financlal Activities gradually as Ihe value of the GTain Store development depreclales each
year. The fund Is represenled by Ihe charity's tangible assets as shown in the 'analysis of nel assels, note to
the financial statements.
23-

CODA MUSIC AND ARTS TRUST LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
21 Unrestrlcted fund5 - designated fund
These are unreslrlcted fund5 which ale ￿￿{erIal to the charity's acllvllles.
At1
September
2023
Incomlng
resources
Resources
expended
Transfers At 31 August
2024
Capltal Projects
Future Projects
hArt Legacy
490.rxjo
S0,(KJO
490,000
50,000
79,625
7.489
(26.3751
98,511
540,Crf)O
7.489
(26.3751
98,511
619,625
Prevlous year,.
At1
September
2022
Incomlng
resources
Resourees
expended
Transfers At 31 August
2023
Capital Prolècls
Future Project8
490.000
50,000
490,000
50,000
540,000
540,000
22 Unre5trlcted funds
The unreslrScted funds of the charlty comprlse the unexpended balances of donallons and grants whlch are
not subject lo specific conditions by donors and grantors as lo how they may be used. These include
deslgnaled funds which have been set aslde out of unreslrlcted funds by the Iruslees for specific purposes.
At1
September
2023
Incomlng
re80urces
Resources
expended
Transfers At 31 August
2024
Gener81 funds
531,765
277,146
(343,125)
(1 (Kl,385)
365,401
Prevlous year..
At1
September
2022
Incomlng
resources
Resources
expended
Transfers At 31 August
2023
General funds
499.500
865,857
(293,592)
(540,000}
531,765
-24-

CODA MUSICAND ARTS TRUST LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
23 Analysls of net assets between funds
Unrestrlcted Unrestrlcted
funds
funds
general deslgnated
2024
2024
Restri¢led Endowment
funds
funds
Total
2024
2024
2024
Fund balancès at 31 August 2024 are
represented by:
Tanglble assets
Current asselsl{Ilabllities)
Long term liabilities
214,020
214,980
(63,599)
619.625
321,086
43,572
305,210
1.459,941
258,552
{63,5991
365,401
619.625
364,658
305,210
1,654,894
Unrestricted Unrestricted
funds
funds
general d￿Ignated
2023
2023
Restrlcted Endowment
funds
funds
Total
2023
2023
2023
Fund balances at 31 August 2023 are
reprfrsented by..
Tanglble assets
Cuirenl asselsl{Ilabllllles)
Long term Ilabililies
6[￿,810
32.215
507,785
20.619
15,165
659,644
522,950
(75,045)
(75.045)
531,765
540,000
35,784
1,107,549
24 Related party transactlons
There were no dlsclosable related party Iransacllons during the year {2023 - none).
25 Ca8h generated from operatlons
2024
2023
Surplus for the year
547,345
599,257
Adjustments for..
Inveslmenl Income recognlsed in slalemenl of financial activities
Depreciallon and Impalrmenl of tangible fixed assets
{18,381 }
4,173
15,678)
3,708
Movements in worklng capital..
Decreasel{increase} In debtors
Increase in creditors
2,992
21,172
(8,384)
9,411
Cash generated from operatlons
557,301
598,314
-25-

CODA MUSIC AND ARTS TRUST LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
26 Analysls of changes in net funds
At 1 Seplember
2023
Cash flows
At 31 August
2024
Cash at bank and In hand
537,952
(239,720)
298,232
Loans falllng due within one year
Loans falling due afler more than one year
110,680)
(75,045)
(514)
11,446
{11.194)
(63,5991
452,227
(228,7881
223.439
27 Prlor period adjustment
Changa8 to the balance sheet
At 31 August 2023
AS previously AdJu$tment
reportod
As r98tatgd
Flxed assets
Tanglble assets
469.721
189,923
659,644
Capllal funds
Income funds
Reslricled funds
15,165
540,000
362,461
20,619
35,784
540,000
531,765
Unreslrlcted funds
169,304
Total equlty
917,626
189,923
1,107,549
Changes to tho prollt and loss account
Perlod ended 31 Augu812023
AS previously
Adlustment
As re8tated
reported
Charltable actlvilles
504,705
{189,9231
314,782
Net movement in funds
409,334
189,923
599.257
26-