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← Soundlincs Limited

2022-03-31-accounts

COMPANY REGISTRATION NUMBER: 3730138 CHARITY REGISTRATION NUMBER: 1086483

soundLINCS

Company Limited by Guarantee

Unaudited Financial Statements

For the year ended

31 March 2022

MUMBY HEPPENSTALL

Chartered accountants Wellingore Hall Wellingore Lincoln LN5 0HX

soundLINCS

Company Limited by Guarantee

Financial Statements

Year ended 31 March 2022

Page
Trustees' annual report (incorporating the director's report) 1
Independent examiner's report to the trustees 7
Statement of financial activities (including income and expenditure
account) 8
Statement of financial position 9
Notes to the financial statements 11

soundLINCS

Company Limited by Guarantee

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

Year ended 31 March 2022

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 2022.

Chair's report

Reference and administrative details 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 1HY
The trustees
Mr G Tinsley (Chair)
Mr P Garvey
Mr D Gibbons (Treasurer)
Dr T Jeffrey
Mrs S Nunn (Secretary)
Prof D Symonds
Mrs S Blair-Manning (appointed 25 April 2022)
Dr R Dean (appointed 25 April 2022)
Mr P Clarke (appointed 25 April 2022)
Independent examiner Clare Heppenstall, MA, FCA
Wellingore Hall
Wellingore
Lincoln
Key management personnel Ms N K Heyes, MBE – Chief Executive

- 1 -

soundLINCS

Company Limited by Guarantee

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

Year ended 31 March 2022

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 £1. 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 2 full time equivalent employees as at 31 March 2022.

Trustees are appointed to the Board for an initial term of three years after which time they are eligible for reelection 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 2021/22 has been for the benefit of the public. This annual report provides demonstrable impact on the community.

- 2 -

soundLINCS

Company Limited by Guarantee

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

Year ended 31 March 2022

Achievements and performance

Following the extraordinary year of 2020/21, who would have thought the UK would still be in lockdown as we entered 2021/22? However, we were, and the trials of the previous year continued, despite the best efforts of soundLINCS. By May when the lock down was lifted, slowly the confidence to engage in person began to return, albeit with extreme caution. Thanks to the Arts Council England CRF2, soundLINCS was supported through this barren time of gaining the communities' confidence to engage and open up projects.

Pockets of funding were secured from SHINE Lincolnshire for the Development of Community Assets and the creation of soundLINCS UpBEAT! referral music service, supporting members of the community with mental health concerns. The service works with social prescribing and neighbourhood teams, the Primary Care Networks of Lincolnshire, responding to referrals. Throughout the year UpBEAT! received referrals and developed 1-2-1 sessions, groups sessions and signposting opportunities as music groups began to open their doors again. The project provided a rich source of diversity and needs.

Toward the end of 2021 the National Heritage Lottery programme Future of the Past, began to gain headway in encouraging Heritage sites to support the bringing together of communities out of lockdown and managed to complete on time.

soundLINCS was also delighted to once again resume the Youth Music Fund B soundPLAT4M, working with the Lincolnshire County Council Adoption Support, Springwell Academy Trust as part of the Lincolnshire Music Education Hub activities and completed the programme. New projects and opportunities followed in the New Year with Musical Whispers funded by Newark Creates, creating and celebrating memories of Newark Market Place through music. With over 50 shops within Newark playing the community's music tracks from Soundcloud throughout a celebratory weekend.

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. Throughout this year of transition and continued uncertainty, between the voluntary Board of Trustees and our core team and soundLINCS' Music Facilitators we have continued the support for carers, parents and community music professionals through the monthly free soundEMISSION e-bulletin plus the promotion and development of the vast array of musical inclusive toolkits and reports available free from the Company's website.

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.

- 3 -

soundLINCS

Company Limited by Guarantee

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

Year ended 31 March 2022

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-pandemic business plan 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.

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 2022 £210,257 (2021: £201,433). Restricted reserves at 31 March 2022 £11,210 (2021: £10,244). There were no designated funds at 31 March 2022 or 2021.

- 4 -

soundLINCS

Company Limited by Guarantee

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

Year ended 31 March 2022

Plans for future periods

This is still a very challenging time, especially with increased competition to seek new project funding. However as soundLINCS rebuilds, a new chapter of the Company's life is emerging, as we always believed it would, in the support of mental health through music, bringing with it exciting new partnerships and opportunities. soundLINCS looks to continue to develop these relationships and the UpBEAT! service across Lincolnshire, creating groups, offering 1-2-1 sessions and introducing people to groups which align to their own interest, while supporting the soundLINCS Music Facilitators and staff with support and training .

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! 2023; and review and consult as to the needs of the musicLINK members, whilst ensuring the soundEMission information service is strengthened.

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'. 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 of 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 uncertainty of when physical delivery is able to commence, the voluntary Board of Trustees will continue to work closely with the staff, ensuring appropriate risk management assessments and fund raising goals are regularly reviewed, alongside the Company's budget and cashflow.

- 5 -

soundLINCS

Company Limited by Guarantee

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

Year ended 31 March 2022

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 .............................. and signed on behalf of the board of trustees by:

Mr G Tinsley Trustee

- 6 -

soundLINCS Company Limited b) Guarantee Independent Examiner's Report to the Trustees of soundLILICS Year ended 31 March 2022 I repom Its ihe Irusiees on n?y examination of the fillancial slaleinenis of soundLINCS I'ihe chariiy'i for Ihe year elided 31 MarLh ?022. RE5pon51bilitles and basis of report A5 the Irustces of die company {and also its direciors foT the putposes of company l#ivl you arc rcsponsiblc for ie preparalii)n ()f ihe financial statemen15 ill accordancc witli Ihc rcquircmcnls of tiic Companies ACL ?0061'the 2006 .4cL'I. Havin￿￿ sati%fiLd myself Ihilt th¥ aciouryt5 of the covnpans. are iioi required ro bL audited uiidLr Pari 16 ot. IliL 2006 ALI and arc cligiblt for indei)¢nd#iit vxarninatioii. T report in i'espvil ot niy cyaniiiiatlOl1 Ot. Iliu Lliarity s accouiits as carried tsui undeT seLtion 145 of the ChaTlties Act 2011 i-thc 2011 Acl'l. Iii carrying out m}. c¥amination I have lollowed the Direciions givei) by Ihe Chariti. Commission under sectioii 14515)Ibl ol. Ihc 2011 ALI. Independent examiner's $titement Sincc Ihc charity's gross ineome eALeeded £250,000 your exarnin¢r LJLiisI b¢ a member of a body li51ed in scclion 145 of th¢ ?01 l Acl. I confirni (hat l am qtti?lifiLd to undertakL' the Lxarnjndtion bLiJusi T 41M a iDemlier of Ihc Inblilule of Chartered AccounLqnts in England and IN'ales (ICAEWI. whiLh is one Lif the libted bodies. have complded my exaniinaiion. I confirni thai no mailers have come io my aiieniion in coiittection iviih rhc examinatioii giving m¢ céuse kn believe.. accounting rc£ords WLr¢ not k¢pt in r¢sp¢ct of the ¢hariry as required by sectioji 386 of the 2006 ALI. or thc finaiicial statemenis do T)Ot ￿COrd WTth ihose rLcords', or the financial slaomenis do not comply ￿'11h the accouniing requiremeDls of seciion 396 1)r the 2006 Act other Ihan any iequiremenl that Ihe accounis give 2 '1rue and fairf l.le￿. wliich is noi a matter considered as pait of an indcpcndcnt examinaiion: or the flnancial siatcm¢nts hai'c not been Prepared in acLordanLL Wlth IhL m¢thods and priiiciples of the StatemL Thr ot ReLummen(Jed Pructiic for accoujiting dnd reporting b}- Lharilies applicablc io charities preparing their aLLount5 itj accordance ivith the Finantial R¢pvrtin¥ Standard appli¥able iii the UK and Republic of Ireland IFRS 1021. hai'e no ¢onr¢TllS and havc come acros¥ n() o¢h¢r m3tt¢1% in conncctiotj ivith thL Lxamindtion to which attention should be diawtj in thi5 rcport ill ol'der to ¢ftabl¢ d PWP¢T undcrsianding of ihc acLounts to b¢ r¢arh¢d. Clate l.leppenstall. MA, FCA Indcpcndenl Ex'aminer Mumby Heppensiall Wcllin8ore Hall Wcllin¥ore l.inLoln LN5 IIHX 3r4 ao?2 .

soundLINCS

Company Limited by Guarantee

Statement of Financial Activities (including income and expenditure account)

Year ended 31 March 2022

2022 2021
Unrestricted Restricted
funds funds Total funds Total funds
Note £ £ £ £
Income and endowments
Donations and legacies 5 4,350 – 4,350 4,068
Charitable activities 6 93,561 152,381 245,942 239,153
Other trading activities 7 22,052 – 22,052 17,045
Investment income 8 120 – 120 95
Other income 9 5,736 – 5,736 105,765
--------------------------------- --------------------------------- --------------------------------- ---------------------------------
Total income 125,819 152,381 278,200 366,126
================================= ================================= ================================= =================================
Expenditure
Expenditure on raising funds:
Costs of raising donations and
legacies 10 5,889 – 5,889 4,425
Expenditure on charitable activities 11,12 111,051 151,470 262,521 176,303
--------------------------------- --------------------------------- --------------------------------- ---------------------------------
Total expenditure 116,940 151,470 268,410 180,728
================================= ================================= ================================= =================================
--------------------------------- --------------------------------- --------------------------------- ---------------------------------
Net income 8,879 911 9,790 185,398
================================= ================================= ================================= =================================
Transfers between funds (55) 55 – –
--------------------------------- --------------------------------- --------------------------------- ---------------------------------
Net movement in funds 8,824 966 9,790 185,398
Reconciliation of funds
Total funds brought forward 201,433 10,244 211,677 26,279
--------------------------------- --------------------------------- --------------------------------- ---------------------------------
Total funds carried forward 210,257 11,210 221,467 211,677
================================= ================================= ================================= =================================

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.

- 8 -

soundLINCS

Company Limited by Guarantee

Statement of Financial Position

31 March 2022

2022 2021
Note £ £
Fixed assets
Tangible fixed assets 18 4,016 5,177
Current assets
Debtors 19 36,012 45,955
Cash at bank and in hand 217,544 279,307
--------------------------------- ---------------------------------
253,556 325,262
Creditors: amounts falling due within one year 20 36,105 118,762
--------------------------------- ---------------------------------
Net current assets 217,451 206,500
--------------------------------- ---------------------------------
Total assets less current liabilities 221,467 211,677
--------------------------------- ---------------------------------
Net assets 221,467 211,677
================================= =================================
Funds of the charity
Restricted funds 11,210 10,244
Unrestricted funds 210,257 201,433
--------------------------------- ---------------------------------
Total charity funds 23 221,467
=================================		 211,677
=================================

For the year ending 31 March 2022 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.

- 9 -

soundLINCS

Company Limited by Guarantee

Statement of Financial Position (continued)

31 March 2022

These financial statements were approved by the board of trustees and authorised for issue on ........................, and are signed on behalf of the board by:

�e����� ��e��Signed on 03/08/22 @ 12:30

Mr G Tinsley Trustee

Company number 3730138

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

- 10 -

soundLINCS

Company Limited by Guarantee

Notes to the Financial Statements

Year ended 31 March 2022

1. General information

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 1HY.

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 concern basis. The trustees have considered the uncertainties in relation to the charity's future funding (as set out in the Trustees Report, pages 2-6) 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.

- 11 -

soundLINCS

Company Limited by Guarantee

Notes to the Financial Statements (continued)

Year ended 31 March 2022

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 on a 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 - 25% reducing balance

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.

4. 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.

- 12 -

soundLINCS

Company Limited by Guarantee

Notes to the Financial Statements (continued)

Year ended 31 March 2022

5. Donations and legacies

Unrestricted Total Funds Unrestricted Total Funds
Funds 2022 Funds 2021
£ £ £ £
Donations
MUSIC:LINK subscriptions 1,938 1,938 1,657 1,657
Donations 2,412 2,412 2,411 2,411
------------------------ ------------------------ ------------------------ ------------------------
4,350 4,350 4,068 4,068
======================== ======================== ======================== ========================
6. Charitable activities
Unrestricted Restricted Total Funds
Funds Funds 2022
£ £ £
Projects and workshops income 17,727 – 17,727
soundPLAT4M – 65,774 65,774
Skegness Studio 5,005 5,005
Arts Council England 75,834 – 75,834
Together Through Music – 10,920 10,920
Future of the Past – 39,000 39,000
Musical Whispers – 3,200 3,200
New Tricks/New World – – –
MEHEM Uprising! – 1,732 1,732
LCC NET – – –
UpBEAT! – 26,750 26,750
---------------------------- --------------------------------- ---------------------------------
93,561 152,381 245,942
============================ ================================= =================================
Unrestricted Restricted Total Funds
Funds Funds 2021
£ £ £
Projects and workshops income 3,515 3,113 6,628
soundPLAT4M – – –
Arts Council England 150,200 – 150,200
Together Through Music – – –
Future of the Past – – –
Musical Whispers – – –
New Tricks/New World – 76,500 76,500
MEHEM Uprising! – 825 825
LCC NET 5,000 – 5,000
UpBEAT! – – –
--------------------------------- ---------------------------- ---------------------------------
158,715 80,438 239,153
================================= ============================ =================================
7. Other trading activities
Unrestricted Total Funds Unrestricted Total Funds
Funds 2022 Funds 2021
£ £ £ £
Premises rental 22,052 22,052 17,045 17,045
============================ ============================ ============================ ============================

- 13 -

soundLINCS

Company Limited by Guarantee

Notes to the Financial Statements (continued)

Year ended 31 March 2022

8. Investment income
Unrestricted Total Funds Unrestricted Total Funds
Funds 2022 Funds 2021
£ £ £ £
Bank interest receivable 120 120 95 95
============== ============== ============== ==============
9. Other income
Unrestricted Total Funds Unrestricted Total Funds
Funds 2022 Funds 2021
£ £ £ £
Covid-19 Government Grants – – 29,467 29,467
Coronavirus Job Retention Scheme 5,736 5,736 76,298 76,298
------------------------ ------------------------ --------------------------------- ---------------------------------
5,736 5,736 105,765 105,765
======================== ======================== ================================= =================================
10. Costs of raising donations and legacies
Unrestricted Total Funds Unrestricted Total Funds
Funds 2022 Funds 2021
£ £ £ £
Costs of raising donations and legacies 5,889 5,889 4,425 4,425
======================== ======================== ======================== ========================
11. Expenditure on charitable activities by fund type
Unrestricted Restricted Total Funds
Funds Funds 2022
£ £ £
Projects and workshops 93,532 150,548 244,080
Support costs 17,519 922 18,441
--------------------------------- --------------------------------- ---------------------------------
111,051 151,470 262,521
================================= ================================= =================================
Unrestricted Restricted Total Funds
Funds Funds 2021
£ £ £
Projects and workshops 80,795 78,130 158,925
Support costs 15,145 2,233 17,378
---------------------------- ---------------------------- ---------------------------------
95,940 80,363 176,303
============================ ============================ =================================

- 14 -

soundLINCS

Company Limited by Guarantee

Notes to the Financial Statements (continued)

Year ended 31 March 2022

12. Expenditure on charitable activities by activity type

Activities
undertaken Total funds Total fund
directly Support costs 2022 2021
£ £ £ £
Projects and workshops 244,080 10,270 254,350 168,965
Governance costs – 8,171 8,171 7,338
--------------------------------- ---------------------------- --------------------------------- ---------------------------------
244,080 18,441 262,521 176,303
================================= ============================ ================================= =================================
13. Analysis of support costs
Projects and
workshops Total 2022 Total 2021
£ £ £
Staff costs 7,880 7,880 8,508
General office 1,820 1,820 1,500
Finance costs – – 32
Governance costs 8,171 8,171 7,338
Accountancy 570 570 –
---------------------------- ---------------------------- ----------------------------
18,441 18,441 17,378
============================ ============================ ============================
14. Net income
Net income is stated after charging/(crediting):
2022 2021
£ £
Depreciation of tangible fixed assets 1,339 1,726
======================== ========================
15. Independent examination fees
2022 2021
£ £
Fees payable to the independent examiner for:
Independent examination of the financial statements 1,200 1,200
Other financial services 1,290 720
------------------------ ------------------------
2,490 1,920
======================== ========================
16. Staff costs
The total staff costs and employee benefits for the reporting period are analysed as follows:
2022 2021
£ £
Wages and salaries 110,299 121,710
Social security costs 6,631 6,635
Employer contributions to pension plans 2,488 2,584
--------------------------------- ---------------------------------
119,418 130,929
================================= =================================

- 15 -

soundLINCS

Company Limited by Guarantee

Notes to the Financial Statements (continued)

Year ended 31 March 2022

16. Staff costs (continued)

The average head count of employees during the year was 3 (2021: 7). The average number of full-time equivalent employees during the year is analysed as follows:

equivalent employees during the year is analysed as follows:
2022 2021
No. No.
Management 1 1
Project 1 3
Administrative 1 1
-------------- --------------
3 5
============== ==============

No employee received employee benefits of more than £60,000 during the year (2021: Nil).

Key Management Personnel

Key management personnel include all 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 £53,710 (2021: £40,591).

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 (2021: Nil).

18. Tangible fixed assets

Equipment
£
Cost
At 1 April 2021 47,028
Additions 178
----------------------------
At 31 March 2022 47,206
============================
Depreciation
At 1 April 2021 41,851
Charge for the year 1,339
----------------------------
At 31 March 2022 43,190
============================
Carrying amount
At 31 March 2022 4,016
============================
At 31 March 2021 5,177
============================

- 16 -

soundLINCS

Company Limited by Guarantee

Notes to the Financial Statements (continued)

Year ended 31 March 2022

19. Debtors

2022 2021
£ £
Trade debtors 28,081 18,970
Prepayments and accrued income 7,772 26,826
Other debtors 159 159
---------------------------- ----------------------------
36,012 45,955
============================ ============================
Creditors: amounts falling due within one year
2022 2021
£ £
Trade creditors 16,205 110
Accruals and deferred income 15,033 111,560
Social security and other taxes 2,487 4,162
Deposits 2,217 ,2,217
Soaring Skywards 163 163
Other creditors – 550
---------------------------- ---------------------------------
36,105 118,762
============================ =================================
Deferred income
2022 2021
£ £
At 1 April 2021 107,207 13,200
Amount released to income (99,592) (3,113)
Amount deferred in year – 97,120
--------------------------------- ---------------------------------
At 31 March 2022 7,615
=================================		 107,207
=================================

20. Creditors: amounts falling due within one year

21. Deferred income

Deferred income relates to funding received at 31 March 2022 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 £2,488 (2021: £2,584).

- 17 -

soundLINCS

Company Limited by Guarantee

Notes to the Financial Statements (continued)

Year ended 31 March 2022

23. Analysis of charitable funds

Unrestricted funds

Unrestricted funds
At At
1 April 2021 Income Expenditure Transfers 31 March 2022
£ £ £ £ £
General funds 201,433 125,819 (116,940) (55)
210,257
================================= ================================= ================================= ============== =================================
At At
1 April 2020 Income Expenditure Transfers 31 March 2021
£ £ £ £ £
General funds 16,110 285,688 (100,365) – 201,433
============================ ================================= ================================= ============== =================================
Restricted funds
At At
1 April 2021 Income Expenditure Transfers 31 March 2022
£ £ £ £ £
soundPLAT4M – 65,774 (65,774) – –
Future of the Past 4,159 39,000 (43,159) – –
LCC Lincoln Sings 4,000 – – – 4,000
UpBEAT! – 26,750 (20,800) – 5,950
Adults with complex
needs 1,260 – – – 1,260
National Lottery
Community Fund – – – – –
MEHEM Uprising! 825 1,732 (2,557) – –
Skegness Studio – 5,005 (5,060) 55 –
Together Through Music – 10,920 (10,920) – –
Musical Whispers – 3,200 (3,200) – –
---------------------------- --------------------------------- --------------------------------- -------------- ----------------------------
10,244 152,381 (151,470) 55 11,210
============================ ================================= ================================= ============== ============================
At At
1 April 2020 Income Expenditure Transfers 31 March 2021
£ £ £ £ £
soundPLAT4M – 3,113 (3,113) – –
Future of the Past 4,909 – (750) – 4,159
LCC Lincoln Sings 4,000 – – – 4,000
UpBEAT! – – – – –
Adults with complex
needs 1,260 – – – 1,260
National Lottery
Community Fund – 76,500 (76,500) – –
MEHEM Uprising! – 825 – – 825
Skegness Studio – – – – –
Together Through Music – – – – –
Musical Whispers – – – – –
---------------------------- ---------------------------- ---------------------------- -------------- ----------------------------
10,169 80,438 (80,363) – 10,244
============================ ============================ ============================ ============== ============================

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soundLINCS

Company Limited by Guarantee

Notes to the Detailed Statement of Financial Activities (continued)

Year ended 31 March 2022

2022 2021 £ £

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

Unrestricted Restricted Total Funds
Funds Funds 2022
£ £ £
Tangible fixed assets 4,016 – 4,016
Current assets 226,466 27,090 253,556
Creditors less than 1 year (20,225) (15,880) (36,105)
--------------------------------- ---------------------------- ---------------------------------
Net assets 210,257 11,210 221,467
================================= ============================ =================================
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
================================= ================================= =================================

25. Operating lease commitments

The total future minimum lease payments under non-cancellable operating leases are as follows:

2022 2021
£ £
Not later than 1 year 6,900 5,900
======================== ========================

26. Related parties

There were no related party transactions during the year.

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