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← Soundlincs Limited

2021-03-31-accounts

COMPANY REGISTRATION NUMBER: 3730138 CHARITY REGISTRATION NUMBER: 1086483

soundLINCS

Company Limited by Guarantee Unaudited Financial Statements

For the year ended 31 March 2021

MUMBY HEPPENSTALL Chartered accountants Wellingore Hall Wellingore Lincoln LNS5 0OHX

soundLINCS

Company Limited by Guarantee

Financia] Statements

Year ended 31 March 2021

Page
Trustees’ annual report (incorporating the director's report) 1
Independent examiner's report to the trustees 7
Statement offinancial activities (including income and expenditure
account) 8
Statementoffinancial position 9
Notestothefinancialstatements Il

soundLINCS

Company Limited by Guarantee

Trustees' Annual Report (Incorporating the Director's Report)

Year ended 31 March 2021

The trustees, who are also the directors for the purposes of company law, present their report and the unaudited financial statements of the charity for the year ended 31 March 2021.

Reference and administrative details Registered charity name soundLINCS Charity registration number 1086483 Company registration number 3730138 Principal office and registered soundHOUSE office 18 St Martins Lane Lincoln LN2 1IHY

The trustees

Mr G Tinsley (Chair) Mr P Garvey Mr D Gibbons (Treasurer) DrT Jeffrey Mrs S Nunn (Secretary) Prof D Symonds Dr P Beckley (Resigned 20 July 2020) Independent examiner Clare Heppenstall Mumby Heppenstall Chartered Accountants Wellingore Hall Wellingore Lincoln LN5 0HX

Key management personnel

Ms N K Heyes, MBE — Chief Executive Officer

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soundLINCS

Company Limited by Guarantee

Trustees’ Annual Report (Incorporating the Director's Report) (continued)

Year ended 31 March 2021

Structure, governance and management

soundLINCS is a Not-for-Profit organisation, and a Company Limited by Guarantee and does not have any share capital. It was incorporated on 10 March 1999 and registered as a charity with the Charity Commission for England and Wales on 4 May 2001. Every Trustee of the Company has limited liability in the form of a guarantee of up to £f. Any major risk, to which the Charity is exposed, as identified by the Trustees, has been reviewed and systems have been established to mitigate those risks. The Charity's governing document is its Memorandum of Association & Articles of Association. soundLINCS is managed by a voluntary Board of Trustees who are all Directors of the Charity and meet each quarter to review policies and ensure a coherent strategic overview of the Company. The day-to-day operations are delegated to the Chief Executive Officer, Nikki-Kate Heyes MBE and a core staff of 3.5 full time equivalent employees as at 31 March 2021.

Trustees are appointed to the Board for an initial term of three years after which time they are eligible for re-election for a further two years. A full induction to the work of the Charity and its structure and governance is provided. The Charity makes no significant use of volunteers other than the Trustees.

Objectives and activities

The Charities Act 2011 requires that the purpose for which, soundLINCS, the Charity is formed is charitable and fits one of the 13 charitable purposes. In the Company's case this would be to advance the education of the public in the arts with particular but not exclusive reference to music. The Act also states that there is clear benefit to the public. The Trustees of soundLINCS have had regard to the Charity Commission's guidance on public benefit and can confirm that all of the Company's work in 2020/21 has been for the benefit of the public. This annual report provides demonstrable impact on the community.

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soundLINCS

Company Limited by Guarantee Trustees’ Annual Report (Incorporating the Director's Report) (continued)

Year ended 31 March 2021

Achievements and performance

There can be no disputing that 2020 was an extraordinary year; a year when everything stopped overnight. Work ceased, funding was repurposed and uncertainty prevailed as the Coronavirus rampaged throughout the world. The impact on the arts and cultural sector could not be underestimated, neither could the impact on soundLINCS. Covid-19 hit soundLINCS hard. Partner organisations, working with the vulnerable members of the community, continued to implement 'no visitors’ rules to buildings. Accordingly, any development of new projects or work ceased. By March most of our anticipated funding was removed by providers. Potential income streams established by our fundraiser in 2019/20 with philanthropists and companies were wiped out. soundLINCS acted rapidly, pausing and ring fencing all active projects, furloughing all staff and the voluntary Board of Trustees took over the running of the Company. All non-essential costs were stopped and negotiations successfully reduced our office space and associated rent by 82% whilst making full use of remote communication. Fortnightly meetings of a Trustees’ Finance Sub Group was instigated to closely monitor the Company's financial situation. soundLINCS successfully secured funding from the Arts Council England Emergency Fund, the Cultural Recovery Fund, a Small Business Discretionary Grant and, significantly, project funding from the National Lottery Community Fund which, together with Furlough, ensured that in November 2020, the voluntary Board of Trustees handed back a relatively healthy Company to the staff. However, with a second lockdown imposed and Lincolnshire moving into Tier 3 restrictions, staff continued to work from home, with hours rigorously controlled to ensure limited funds were spent as efficiently as possible, whilst many of the Company's existing projects were still unable to be opened up. The value of soundLINCS' work in a post-Covid world has been recognised by the award from the National Lottery Community Fund to provide music sessions to the most vulnerable in society. Restrictions currently hamper delivery but once conditions allow, there is a good level of confidence that this important work will form a healthy foundation for future soundLINCS' income opportunities. Accordingly, soundLINCS has developed office and workshop (physical and digital) Covid-safe policies and practices for music delivery along with appropriate PPE supply for all workers,

The will to deliver a quality product to people who really need our assistance is a constant driving force with our social and musical impact continuing to be delivered to a diverse and inclusive range of people, from older adults and hospitalised children, to hearing impaired and SEND participants. During the very bleak year, despite the adversity, between the voluntary Board of Trustees and our core team and soundLINCS' Music Facilitators we have:

In addition to this report, a fuller picture of our work, including the outputs and impact of our work, is available on our website www.soundlincs.org. We invite you to visit our site and our associated social media sites to get a greater view of the sheer depth and breadth of the work we do, Our social media Statistics show that more people than ever are getting involved across our platforms: YouTube, Bandcamp, Facebook, Twitter, Instagram and LinkedIn.

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soundLINCS

Company Limited by Guarantee

Trustees’ Annual Report (Incorporating the Director's Report) (continued)

Year ended 31 March 2021

Plans for future periods

This is a challenging time as efforts recommence to reinvigorate previous project bids as well as seeking new project funding. Although currently the future looks a Jot brighter with the rollout of the vaccine, this is set against a precarious economic background where Covid-19 may well re-impose restrictions on work and available funding.

As pandemic conditions ease, soundLINCS will continue with the three longer term programmes of work:-

Future of the Past - funded by the National Heritage Lottery and Lincolnshire County Council, which will see soundLINCS as lead applicant working in partnership with the Lincolnshire heritage sector and 4 other arts organisations in the exploration as to how voluntary trustees of 7 heritage sites across Lincolnshire can engage and work with young people to the advancement of understanding between the generations and the promotion of the sites across all the community.

soundPLAT4M programme enters the final year.

soundPLAT4M programme enters the final year. Funded by the National Foundation for Youth Music with additional contributions from partners including Springwell Learning Community Lincolnshire, LCC Future¢Me Service along with Lincolnshire Adoption Service and the Lincolnshire Music Education Hub. The programme continues to create new music-making opportunities for the least advantaged children and young people across the region.

NewTricks:NewWorld which brings music to the most vulnerable older adults of the community.

We hope to be able to continue our Together Through Music partnership for SEND schools music making work; partnering with Lincolnshire County Council to produce FAB! 2022; and review and consult as to the needs of the musicLINK members, whilst ensuring the soundEMission information service is strengthened.

Once restrictions are lifted, our extensive bespoke music delivery project work will continue in a Covid-safe manner and we will continue to partner with other organisations and charities to help create and deliver music programmes to continue ‘Unleashing potential through music’.

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soundLINCS

Company Limited by Guarantee

Trustees’ Annual Report (Incorporating the Director's Report) (continued)

Year ended 31 March 2021

More than ever, in the post-Covid world, soundLINCS will develop further programmes of work and funding applications in line with its Business Plan with the aim if consolidating the Company's position as the foremost independent music and social development organisation for the East Midlands. This will include development in the following areas:

To achieve these goals in the short term, given the constant uncertainly of when physical delivery is able to commence, the voluntary Board of Trustees will continue to work closely with the staff, ensuring appropriate tisk management assessments and fund raising goals are regularly reviewed, alongside the Company's budget and cashflow.

Financial review

soundLINCS aims to diversify its income base through funding applications for new and progressive post Covid projects whilst building on its core base of working with children and young people in challenging circumstances,

Actions towards achieving these aims continue with the review and creation of a new post-Covid business plan which will build on the staff re-structure of 2019/20, in line with the post Covid organisation which soundLINCS will become with a focus on increasing the charity's fundraising capacity to sustain and grow the organisation for the foreseeable future.

Post Covid, the charity will review previously repurposed grant applications and assess their fitness and relevance to the current situation. We will continue to work with partners to generate project income and replace lost revenue and work to ensure a solid recovery and programme of work for 2021/22.

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soundLINCS

Company Limited by Guarantee

Trustees’ Annual Report (Incorporating the Director's Report) (continued)

Year ended 31 March 2021

Reserves Policy

It is the policy of the charity to maintain unrestricted free reserves at a level to allow the charity to research and develop new programmes and funding strategies to enable it to continue in its charitable objectives, and to provide sufficient funds to cover redundancy provision and three months operating costs in the event of it having to cease operating. The Board is satisfied that the current level of unrestricted funds is sufficient to meet this policy based on the current level of projected operating expenditure.

Unrestricted reserves at 31 March 2021 £201,433 (2020: £16,110). Restricted reserves at 31 March 2021 £10,244 (2020: £10,169). There were no designated funds at 31 March 2021 or 2020.

Responsibilities of the Trustees

The trustees (who are also the directors of soundLINCS for the purposes of company law) are responsible for preparing the Trustees Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing these financial statements, the trustees are required to:

The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. The trustees are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Small company provisions

This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.

The trustees' annual report was approved ON ..............ss+e0-. and signed on behalf of the board of trustees by:

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Bisse
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SignedGlenn on 14/05/21Venrybey@ 17:25

Mr G Tinsley Trustee

-6-

soundLINCS

Company Limited by Guarantee

Independent Examiner's Report to the Trustees of soundLINCS

Year ended 31 March 2021

I report to the trustees on my examination ofthe financial statements of soundLINCS (‘the charity’) for the ycar ended 31 March 2021.

Responsibilities and basis of report

As the trustees of the company (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 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 the charity’s accounts as carried out under section 145 of the Charities Act 2011 (‘the 2011 Act’). In carrying out my examination } have followed the 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 ofa body listed im section 145 of the 2011 Act. I confirm that f am qualtfied to undertake the examination because I] am a member of the Institute of Chartered Accountants in England and Wales (ICAEW), which is one ofthe listed bodies.

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

  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 ofan 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 concems and have come across no other matters in connection with the examination to which attention should be drawnin this report in orderto enable a proper understanding ofthe accounts to be reached.

Cer 1), Heppanstol

Clare Heppenstall, MA, FCA Independent Examiner Mumby Heppenstall Wellingore Hall Wellingore Lincoln LNS5 0HX

Date: [7% Moy AOX}

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soundLINCS

Company Limited by Guarantee

Statement of Financial Activities (including income and expenditure account)

Year ended 31 March 2021

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|||||||||| |---|---|---|---|---|---|---|---|---| |2021|2020| |Unrestricted|Restricted| |funds|funds|Total|funds|Total|funds| |Note|£|£|£|£| |Income|and|endowments| |Donations and|legacies|5|4,068|~|4,068|6,075| |Charitable|activities|6|158,715|80,438|239,153|256,678| |Other trading|activities|L|17,045|~|17,045|12,218| |Investment|income|8|95|-|95|666| |Other|income|9|105,765|~|105,765|159| |Total|income|285,688|80,438|366,126|275,796| |Expenditure| |Expenditure|on|raising|funds:| |Costs|of raising donations|and| |legacies|10|4,425|-|4,425|26,395| |Expenditure|on|charitable|activities|11,12|95,940|80,363|176,303|317,151| |Total expenditure|100,365|80,363|180,728|343,546| |Net income/(expenditure)|and|net movement| |in|funds|185,323|75|185,398|(67,750)| |Reconciliation|of funds| |Total|funds brought|forward|16,110|10,169|26,279|94,029| |Total funds carried forward|201,433|10,244|211,677|26,279|

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The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.

The notes on pages 11 to 19 form part of these financial statements.

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soundLINCS

Company Limited by Guarantee

Statement of Financial Position

31 March 2021

2021 2020
Note £ £
Fixed assets
Tangible fixed assets 18 §,177 6,903
Current assets
Debtors 19 45,955 21,152
Cash at bank and in hand 279,307 21,021
325,262 42,173
Creditors: amounts fallingduewithinoneyear 20 118,762 22,797
Netcurrent assets 206,500 19,376
Total assets less current liabilities 211,677 26,279
Net assets 211,677 26,279
Funds ofthecharity
Restricted funds 10,244 10,169
Unrestricted funds 201,433 16,110
Totalcharityfunds 23 211,677 26,279

For the year ending 31 March 2021 the charity was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors’ responsibilities:

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies’ regime.

The statement of financial position continues on the following page. The notes on pages 11 to 19 form part of these financial statements.

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soundLINCS

Company Limited by Guarantee

Statement of Financial Position (continued)

31 March 2021

These financial statements were approved by the board of trustees and authorised for issue on ............

sesesseseensy aNd are Signed on behalf of the board by:

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NEB
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CBSignedbes on mares14/05/21 Viwwgtey, @ 17:25

Mr G Tinsley Trustee

Company number 3730138

The notes on pages I1 to 19 form part of these financial statements.

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soundLINCS

Company Limited by Guarantee

Notes to the Financial Statements

Year ended 31 March 2021

The charity is a public benefit entity and a private company limited by guarantee, registered in England and Wales and a registered charity in England and Wales. The address of the registered office is soundHOUSE, 18 St Martins Lane, Lincoln, LN2 LHY.

2. Statement of compliance

These financial statements have been prepared in compliance with FRS 102, ‘The Financial Reporting Standard applicable in the UK and the Republic of Ireland’, the Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (Charities SORP (FRS 102)) and the Companies Act 2006.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity.

Going concern

The accounts have been prepared on the going concem basis. The trustees have considered the uncertainties in relation to the charity's future funding (as set out in the Trustees Report, pages 1-6) and are confident of the charity's ability to continue as a going concern.

Income tax

These accounts are prepared on the basis that as a charity, the activities of soundLINCS are exempt from income tax and corporation tax.

Fund accounting

Unrestricted funds are available for use at the discretion of the trustees to further any of the charity's purposes. Designated funds are unrestricted funds earmarked by the trustees for specific purpose. Restricted funds are subjected to restrictions on their expenditure declared by the donor or when funds are raised for specific restricted purposes.

Incoming resources

Incoming resources from grants are credited to the Statement of Financial Activities in the year to which they relate. Projects and workshops income is accounted for as receivable by the charity. Deferred income is that to which the charity has not yet earned entitlement for receipt until the service has been provided. Such income is accounted for as a liability until the period in which the charity becomes entitled to the income.

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soundLINCS

Company Limited by Guarantee

Notes to the Financial Statements (continued)

Year ended 31 March 2021

3. Accounting policies (continued)

Resources expended

Resources expended are included in the Statement of Financial Activities on an accruals basis, inclusive of any VAT which cannot be recovered. All expenditure has been classified under headings that aggregate all costs relating to that category. Expenses relating to one activity or cost category have been directly allocated. Other overheads have been apportioned on the basis of estimated time spent and resources utilised: Cost of raising donations and legacies - Chief Executive Officer 10%. Charitable activities - Chief Executive Officer 85%, administration 90% and all other staff costs 100%. Governance - Chief Executive Officer 5%, administration 10%.

Governance costs comprise all costs involved in the public accountability of the charity and its compliance with regulation and good practice.

Operating leases

Lease payments are recognised as an expense over the lease term ona straight-line basis, The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Equipment

Financial instruments

The charity only has financial assets and liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value.

Defined contribution plans

Contributions are made to a workplace pension scheme for employees where required under the automatic enrolment legislation.

  1. Limited by guarantee

The charity is a company limited by guarantee. If the company is wound up the members are each liable to contribute up to £1.

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soundLINCS

Company Limited by Guarantee

Notes to the Financial Statements (continued)

Year ended 31 March 2021

§. Donations and legacies

Unrestricted Total Funds Unrestricted Total Funds
Funds 2021 Funds 2020
£ £ £ £
Donations
MUSIC:LINKsubscriptions 1,657 1,657 3,823 3,823
Donations 2,411 2,411 2252 2,252
4,068 4,068 6,075 6,075
6 Charitable activities
Unrestricted Restricted TotalFunds
Funds Funds 2021
£ £ £
Projects andworkshops income 3,515 3,113 6,628
soundPLAT4M - - ~
Arts Council England 150,200 - 150,200
Futureofthe Past - = =
YMCAFundA - = -
New Tricks/New World ~ 76,500 76,500
MEHEM Uprising! - 825 825
LCCNET 5,000 - 5,000
158,715 80,438 239,153
Unrestricted Restricted Total Funds
Funds Funds 2020
£ £ £
Projects and workshops income 59,063 16,150 75,213
soundPLAT4M = 77,090 77,090
ArtsCouncil England = 3,000 3,000
FutureofthePast - 86,000 86,000
YMCAFundA _ 15,375 15,375
New Tricks/New World ~ ~ -
MEHEM Uprising! - ~ =
LCCNET - ~ _
59,063 197,615 256,678
7. Othertrading activities
Unrestricted Total Funds Unrestricted Total Funds
Funds 2021 Funds 2020
£ £ £ £
Premisesrental 17,045 17,045 12,218 12,218

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soundLINCS

Company Limited by Guarantee

Notes to the Financial Statements (continued)

Year ended 31 March 2021

8. Investment income
Unrestricted TotalFunds Unrestricted Total Funds
Funds 2021 Funds 2020
£ £ £ £
Bank interest receivable 95 95 666 666
9. Other income
Unrestricted Total Funds Unrestricted Total Funds
Funds 2021 Funds 2020
£ £ £ £
Otherincome a ~ 159 159
Covid-19 Government Grants 29,467 29,467 ~ -
Coronavirus Job Retention Scheme 76,298 76,298 - -
105,765 105,765 159 159
10. Costsofraisingdonations and legacies
Unrestricted Total Funds Unrestricted Total Funds
Funds 2021 Funds 2020
£ £ £ £
Costsofraising donations and legacies 4,425 4,425 26,395 26,395
11. Expenditure on charitable activities byfund fundtype
Unrestricted Restricted Total Funds
Funds Funds 2021
5 5 £
Projects and workshops 80,795 78,130 158,925
Support costs 15,145 2,233 17,378
95,940 80,363 176,303
Unrestricted Restricted Total Funds
Funds Funds 2020
£ £ £
Projectsand workshops 127,455 151,272 278,727
Support costs 38,064 360 38,424
165,519 151,632 317,151

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soundLINCS

Company Limited by Guarantee

Notes to the Financial Statements (continued)

Year ended 31 March 2021

12. Expenditure on charitable activities by activity type

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||||||| |---|---|---|---|---|---| |Activities| |undertaken|Total|funds|Total|fund| |directly|Support|costs|2021|2020| |£|£|£|£| |Projects|and workshops|158,925|10,040|168,965|306,861| |Governance|costs|~|7,338|7,338|10,290| |158,925|17,378|176,303|317,151| |13.|Analysis|of support|costs| |Projects|and| |workshops|_ Total 2021|Total|2020| |£|£|£| |Staff costs|8,508|8,508|26,111| |General|office|1,500|1,500|2,023| |Finance|costs|32|32|-| |Governance|costs|7,338|7,338|106,290| |17,378|17,378|38,424| |14.|Net income/(expenditure)|

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Net income/{expenditure) is stated after charging/(crediting):

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|||||||| |---|---|---|---|---|---|---| |2021|2020| |£|£| |Depreciation of tangible|fixed|assets|1,726|2,301| |15.|Independent examination|fees| |2021|2020| |£|£| |Fees|payable|to|the|independent|examiner|for:| |Independent|examination|of the|financial|statements|1,200|1,200| |Other|financial|services|720|960| |1,920|2,160|

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16. Staff costs

The total staff costs and employee benefits for the reporting period are analysed as follows:

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|||||| |---|---|---|---|---| |2021|2020| |£|£| |Wages and|salaries|121,710|205,934| |Social|security|costs|6,635|15,715| |Employer contributions|to pension|plans|2,584|4,405| |130,929|226,054|

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soundLINCS

Company Limited by Guarantee

Notes to the Financial Statements (continued)

Year ended 31 March 2021

16. Staff costs (continued)

The average head count of employees during the year was 7 (2020: 7). The average number of full-time equivalent employees during the year is analysed as follows:

equivalent employeesemployees during the year is analysed as follows:
2021 2020
Management
Project
Administrative		 No. 1
3
1		 No. 1
5
1
5 7

No employee received employee benefits ofmore than £60,000 during the year (2020: Nil).

Key Management Personnel

Key management personnel include al] persons that have authority and responsibility for planning, directing and controlling the activities of the charity. The total compensation paid to key management personnel for services provided to the charity was £40,591 (2020: £94,318).

17. Trustee remuneration and expenses

No remuneration or other benefits from employment with the charity were received by any of the trustees during the year.

No expenses were paid to any of the trustees during the year (2020: £202.50 was paid to one trustee for travel expenses).

18. Tangible fixed assets

Equipment
£
Cost
At 1 April2020 and 31 March 2021 47,028
Depreciation
At 1 April 2020 40,125
Charge fortheyear 1,726
At3! March 2021 41,851
Carrying amount
At31 March 2021 SET
At31March2020 6,903

-16-

soundLINCS

Company Limited by Guarantee

Notes to the Financial Statements (continued)

Year ended 31 March 2021

19. Debtors
2021 2020
£ £
Tradedebtors 18,970 20,268
Prepaymentsandaccrued income 26,826 725
Other debtors 159 159
45,955 21,152
20. Creditors: amounts fallingduewithinone year
2021 2020
£ £
Trade creditors 2,490 2,099
Accrualsand deferred income 111,560 15,607
Social security and othertaxes 4,162 5,091
Othercreditors 550 -
118,762, 22,797
21. Deferred income
2021 2020
£ £
At 1 April 2020 13,200 76,757
Amount released toincome (3,113) (76,757)
Amount deferred in year 97,120 13,200
At31March2021 107,207 13,200

Deferred income relates to funding received at 31 March 2021 for projects which have not been completed at that date, and so the proportion of funding held to complete the project has been carried forward.

22. Pensions and other post retirement benefits

Defined contribution plans

The amount recognised in income or expenditure as an expense in relation to defined contribution plans was £2,584 (2020: £4,405).

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soundLINCS

Company Limited by Guarantee

Notes to the Financial Statements (continued)

Year ended 31 March 2021

23. Analysis of charitable funds

Unrestricted funds

Unrestricted funds
At
At 31 March 202
1 April 2020 Income Expenditure Transfers 1
£ £ £ £ £
General funds 16,110 285,688 (100,365) - 201,433
At At
1 April 2019 Income Expenditure Transfers 31 March 2020
£ £ £ £ £
General funds 70,636 78,181 (191,914) 59,207 16,110
Restricted funds
At At
1 April 2020 Income Expenditure Transfers 31 March 2021
£ £ £ £ £
soundPLAT4M ~ 3,113 (3,113) - -
ArtsCouncil England - - - - -
Coastal Community
Challenge - ~ - _ -
FutureofthePast 4,909 - (750) - 4,159
LCC Lincoln Sings 4,000 = ~ - 4,000
YMCAFundA - - - ~ -
Adults withcomplex
needs 1,260 - - ~ 1,260
National Lottery
Community Fund ~ 76,500 (76,500) - -
MEHEM Uprising! - 825 - - 825
10,169 80,438 (80,363) ~ 10,244
At At
1 April 2019 Income Expenditure Transfers 31 March 2020
£ £ £ £ £
soundPLAT4M 16,000 77,090 (68,059) (25,031) =
Arts Council England 7,393 3,000 (16,217) 5,824 -
Coastal Community
Challenge
Futureofthe Past		 _
-		 5,990
86,000		 (5,990)
(41,091)		 -
(40,000)		 -
4,909
LCC Lincoln Sings - §,000 (1,000) - 4,000
YMCAFundA - 15,375 (15,375) - ~
Adults with complex
needs — 5,160 (3,900) - 1,260
National Lottery
CommunityFund ~ - - - -
MEHEM Uprising! ~ - - = =
23,393 197,615 (151,632) (59,207) 10,169

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soundLINCS

Company Limited by Guarantee

Notes to the Detailed Statement of Financial Activities (continued)

Year ended 31 March 2021

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||| |---|---| |2021|2020| |£|£|

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Restricted funds are treated as such because of conditions imposed by the external funding provider that means delivery of services under these funds is more restricted than the core service provided by the organisation.

24. Analysis of net assets between funds

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||||||||| |---|---|---|---|---|---|---|---| |Unrestricted|Restricted|Total Funds| |Funds|Funds|2021| |£|£|£| |Tangible|fixed|assets|5,177|_|5,177| |Current|assets|207,091|118,171|325,262| |Creditors|less|than|1|year|(10,835)|(107,927)|(118,762)| |Net|assets|201,433|10,244|211,677| |Unrestricted|Restricted|Total|Funds| |Funds|Funds|2020| |£|£|£| |Tangible|fixed|assets|6,903|-|6,903| |Current|assets|18,804|23,369|42,173| |Creditors|less than|1|year|(9,597)|(13,200)|(22,797)| |Net assets|16,110|10,169|26,279| |25.|Operating|lease commitments|

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|||||||||||| |---|---|---|---|---|---|---|---|---|---|---| |The|total|future minimum|lease payments|under|non-cancellable|operating|leases|are|as|follows:| |2021|2020| |£|£| |Not|later than|1|year|5,900|6,900|

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26. Related parties

There were no related party transactions during the year.