COMPANY REGISTRATION NUMBER: 3730138 CHARITY REGISTRATION NUMBER: 1086483
soundLINCS
Company Limited by Guarantee Unaudited Financial Statements
For the year ended
31 March 2024
MUMBY HEPPENSTALL
Chartered accountants Wellingore Hall Wellingore Lincoln LN5 0HX
soundLINCS
Company Limited by Guarantee
Financial Statements
Year ended 31 March 2024
| Page | |
|---|---|
| Trustees' annual report (incorporating the director's report) | 1 |
| Independent examiner's report to the trustees | 6 |
| Statement of financial activities (including income and expenditure | |
| account) | 7 |
| Statement of financial position | 8 |
| Notes to the financial statements | 9 |
soundLINCS
Company Limited by Guarantee
Trustees' Annual Report (Incorporating the Director's Report)
Year ended 31 March 2024
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 2024.
Chair's report
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 Prof D Symonds (Chair/Treasurer) Mr P Garvey Dr T Jeffrey Mrs S Blair-Manning Dr R Dean Mr P Clarke Ms P Caine (resigned 12 February 2024) Ms S Grundy (appointed 15 April 2024) Independent examiner Clare Heppenstall, MA, FCA Wellingore Hall Wellingore Lincoln Key management personnel Ms N K Heyes, MBE – Chief Executive
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soundLINCS
Company Limited by Guarantee
Trustees' Annual Report (Incorporating the Director's Report) (continued)
Year ended 31 March 2024
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 3 full time equivalent employees as at 31 March 2024.
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 and some administrative support.
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 2023/24 has been for the benefit of the public. This annual report provides demonstrable impact on the community. The charity has also followed the Charity Governance Code.
Achievements and performance
It’s been a bumper year for soundLINCS, and one in which we have marked some major events for the charity. We’ve bounced back from the challenges of lockdown and the pandemic to become stronger, louder, and more vibrant than ever. We’re pushing into new areas, reaching new audiences, and working with new organisations. In the course of this year, we’ve worked alongside communities young and old, bringing music into people’s lives, and reaching every corner of the region. None of this would be possible without the commitment, passion, and expertise of our dedicated team, our wonderful sponsors, and our enthusiastic participants - so thanks to all of our staff, our music facilitators, partners, supporters, and friends, without whom the soundLINCS activities wouldn’t be possible.
This year we have also celebrated our 25th birthday. The main celebrations took place as part of the soundLINCS 14th Annual conference in the stunning vista of the upper floor of the Constance Stewart Hall, Bishop Grosseteste University in Lincoln. Bringing together the whole team for an action-packed birthday party, eating cake, playing music, and reminiscing about the journey so far with an array of guests, from long- time supporters to new funders and people who were discovering soundLINCS for the first time.
However, it’s the day-to-day work of soundLINCS that we most enjoy because that’s how we get to meet new people, share our music, and focus on making a difference. This year has been no exception. Over the year we have worked with a cumulative total of 6,297 participants, through the delivery of 867 music sessions, which have been led by a team of 32 Music Facilitators during the year.
To highlight 3 projects from the year - soundLINCS UpBEAT! Our music and mental health referral service, has continued to grow, expand, and reach new heights this year.
Over the course of the year, soundLINCS UpBEAT! has worked with 1,104 individual participants. The project continued to work in a variety of settings, including care homes, day centres, acute mental health hospitals and community hubs.
December saw the release of soundLINCS first Christmas single, written and performed by a soundLINCS UpBEAT! participant and accompanied by the University of Lincoln Choir ‘Don’t be silent tonight’ by Cat
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soundLINCS
Company Limited by Guarantee
Trustees' Annual Report (Incorporating the Director's Report) (continued)
Year ended 31 March 2024
Winter. Followed by the release of a Blue Monday Playlist in January, for social prescribers, community connectors and healthcare professionals. We have been impressed with the 229 listens within the first 5 months. soundLINCS UpBEAT! participants have also been enjoying furthering their maths skills through music as part of the Government’s initiative ‘Multiply’. The feedback from participants is constantly amazing. ‘The session lifts me and sets me up for the rest of the day and gives me so much inspiration. The team at soundLINCS are wonderful and make me feel so welcome.” - UpBEAT! Participant “This is the one group that everyone gets involved in. We have noticed that residents connect music to memories and the sessions stimulate interaction, communication, and group connection. Everyone loves the sessions, and it encourages dance and movement. The hard-to-reach residents have even got involved and come out of their rooms to sing”. - UpBEAT! Participant In the office soundLINCS has been able to support 5 volunteers from the UpBEAT! project. While the Bourne Community Radio, which began developing from the dream of an UpBEAT! participant last year, now has a firm group of volunteers and continues to flourish and grow, with the group securing further funding for equipment and a base for their radio station. soundLINCS has also enjoyed presenting the project to a variety of conferences and events, including opening Lincolnshire SHINE ‘Celebrating Our Communities’ event at the Lincolnshire Showground with a mass participatory composition to start the day! This year, soundLINCS was delighted to be commissioned by Newark and Sherwood District Council to develop and deliver Open Sounds as part of the Newark Palace Theatre and the National Civil War Centre’s NPO Open Doors project, to work with young people with special educational needs and disabilities (SEND) aged between 14 – 24 years, their families and carers young disabled community over the course of the year. Throughout the duration of this project, we have worked with 19 groups across 12 settings in Newark and Sherwood. Groups included Newark Autism Support Group, Mencap, Orchard School, REACH and open holiday sessions at the National Civic War Museum. Requested music genres ranged from drumming to singing, music production, songwriting to soundscapes. Resulting in a vast array of music outcomes including music for panto, new celebratory regional songs, sounds for films, recordings, videos, performances, and lots of music making. Along with a wealth of social and personal skill developments and impacts. In total soundLINCS Open Sounds project engaged with 555 participants across the year, including 431 SEND participants of whom 43 have achieved Arts Awards and a further 8 participants gaining Level 1, 2, and 3 Maths certificates through the Multiply scheme. Digitally, this project has reached 18,868 people across Facebook, Instagram, X and YouTube. Following the sessions, we have received 100% positive feedback from participants, settings and Music Facilitators that took part in the Open Sounds project, with all of the groups enquiring about further sessions. “The group works really well with some fantastic skills development being demonstrated. Everyone seems to really enjoy the workshops and are always very eager each week.” - REACH Newark, Open Sounds Setting Finally on 9th March 2024 Lincolnshire Sings returned, this time partnering with Spalding Community Choir to deliver a wonderful day of mass harmony singing with 113 people at Spalding’s extraordinary Broad Street Methodist Church. Lincolnshire Sings is a series of wonderful days filled with mass harmony singing workshops to celebrate community singing. The project aims to bring together individuals, vocal groups and choirs who have a passion for singing to celebrate and experience good quality workshops delivered by a network of vocal leaders. Lincolnshire Sings also encourages people to get involved and share their information on the Lincolnshire Sings Map that recognises that there are many vocal groups and choirs within Lincolnshire.
The workshop was led by inspiring community singing leader Dave Camlin, who is a nationally and internationally renowned singer, composer, researcher and educator. Dave led the workshops into exploring how our singing voices help us connect: to ourselves, to each other and to the world around us. Together we weaved a temporary republic of harmony in the air! Choirs and vocal groups, such as Spalding Community Choir and Sing It Loud, took the opportunity at lunch to have a busk in Spalding Town Centre, which was very well received by members of the public passing by. “I wish we could keep singing to contribute to a happier world”. - Lincolnshire Sings Participant Finally, soundLINCS continued to share information over the course of this year. soundEMission, the free e- information service for people involved in music development and education in the East Midlands, has continued to roll out every month with insightful and helpful articles on developing yourself along with sector news, headlines and more. soundEMission has continued to grow with having 14,479 cumulative recipients and
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soundLINCS
Company Limited by Guarantee
Trustees' Annual Report (Incorporating the Director's Report) (continued)
Year ended 31 March 2024
is now regularly filled with over 70 links every month. To find out more and to subscribe to soundEMission, visit www.soundlincs.org/resources/soundemission/
Social media in general has increased over the year with 92 countries regularly visiting the website - 14,983 website page views with 267,261 people reached online.
Financial review
soundLINCS aims to diversify its income base through funding applications for new projects whilst building on its core base of working with children and young people in challenging circumstances. The results for this year show a significant increase in income and a small deficit of £4,322 compared to a deficit of £57,836 the previous year.
Focus continues 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 2023 £110,879 (2023: £161,776). Restricted reserves at 31 March 2023 £48,430 (2023: £1,855). There were no designated funds at 31 March 2024 or 2023.
Plans for future periods
2023/24 was a busy year for a major fundraising push, with the majority, we are pleased to say were successful. Therefore 2024/25 will see wider developments to existing projects such as soundLINCS UpBEAT! with the success of an Arts Council three-year grant, linking to the NASP Power of music for supported Dementia groups and the development of Autistic music groups within Lincolnshire.
April will see soundLINCS leading the commencement of a 3-year Future of the Past project. Following the highly successful pilot project, Future of the Past is going to rekindle the flames of passion and appreciation for heritage, and creatively empower young people to craft contemporary interpretations of heritage, preserving our past while shaping our future.
Made possible by funding from The National Lottery Heritage Fund, South & East Lincolnshire Councils Partnership and West Lindsey District Council, the Future of the Past project will see 6 heritage sites across Lincolnshire – Spalding Gentleman’s Society, Gainsborough Heritage Centre, Baldocks Mill in Bourne, Fydell House in Boston, The Joseph Banks Centre in Horncastle, and Sleaford Museum – and 1 peripatetic Eastern European community group – Boston Lithuanian Community Group – enable young people to engage with heritage groups, develop skills and grow confidence. With support from Cultural Facilitators, these young people, aged 11-25, will work together with the heritage volunteers to develop creative outputs based upon the venue’s assets and ambitions, to attract and retain younger and more diverse audiences to the heritage sites.
Future of the Past will be one of soundLINCS largest partnership projects bringing together 20 organisations from the arts and heritage organisations in Lincolnshire, led by soundLINCS. This diverse skill set will allow delivery of a dynamic, engaging, and transformative project for the communities of Lincolnshire to ensure the continuation of heritage venues, by creating the volunteers of the future and guaranteeing long term sustainability – watch this space!
soundLINCS will be venturing into work within HMP service, having successfully secured a 6-month pilot contract to work within HMP Ranby, while exploring opportunities within HMP North Sea open prison.
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soundLINCS
Company Limited by Guarantee
Trustees' Annual Report (Incorporating the Director's Report) (continued)
Year ended 31 March 2024
With a further commission to deliver the FAB! 2024 awards at the University of Lincoln on behalf of Lincolnshire County Council secured and 2 large Lincolnshire Sings events in the pipeline 2024/25 promises to be another bumper year for soundLINCS.
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:
-
select suitable accounting policies and then apply them consistently;
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observe the methods and principles in the Charities SORP;
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make judgements and estimates that are reasonable and prudent;
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state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements;
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business.
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:
Signed on 01/08/24 @ 08:54
Prof D Symonds Trustee
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soundLINCS soundLINCS Company Limited by Guarantee Company Limited by Guarantee
Independent Examiner's Report to the Trustees of soundLINCS Trustees' Annual Report (Incorporating the Director's Report) (continued) Year ended 31 March 2024 Year ended 31 March 2024
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soundLINCS
Company Limited by Guarantee
Statement of Financial Activities (including income and expenditure account)
Year ended 31 March 2024
| 2024 | 2023 | ||||
|---|---|---|---|---|---|
| Unrestricted | Restricted | ||||
| funds | funds | Total funds | Total funds | ||
| Note | £ |
£ | £ | £ | |
| Income and endowments | |||||
| Donations and legacies | 5 | 3,718 | – | 3,718 | 3,538 |
| Charitable activities | 6 | 11,764 | 229,796 | 241,560 | 116,263 |
| Other trading activities | 7 | 27,802 | – | 27,802 | 27,858 |
| Investment income | 8 | 1,123 | – | 1,123 | 337 |
| Other income | 9 | 183 | – | 183 | 178 |
| Total income | 44,590 | 229,796 | 274,386 | 148,174 | |
| ================= | ================= | ================= | ================= | ||
| Expenditure | |||||
| Expenditure on raising funds: | |||||
| Costs of raising donations and | |||||
| legacies | 10 | 6,242 |
– | 6,242 | 7,371 |
| Expenditure on charitable activities | 11,12 | 89,245 |
183,221 | 272,466 | 198,639 |
| Total expenditure | 95,487 | 183,221 | 278,708 | 206,010 | |
| ================= | ================= | ================= | ================= | ||
| Net income/ (expenditure) | (50,897) | 46,575 | (4,322) | (57,836) | |
| ================= | ================= | ================= | ================= | ||
| Transfers between funds | – | – | – | – | |
| Net movement in funds | (50,897) | 46,575 | (4,322) | (57,836) | |
| Reconciliation of funds | |||||
| Total funds brought forward | 161,776 | 1,855 | 163,631 | 221,467 | |
| Total funds carried forward | 110,879 | 48,430 | 159,309 | 163,631 | |
| ================= | ================= | ================= | ================= |
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 9 to 17 form part of these financial statements.
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soundLINCS
Company Limited by Guarantee
Statement of Financial Position
31 March 2024
| 2024 | 2023 | ||
|---|---|---|---|
| Note | £ | £ | |
| Fixed assets | |||
| Tangible fixed assets | 18 | 3,094 | 4,241 |
| Current assets | |||
| Debtors | 19 | 88,931 | 16,742 |
| Cash at bank and in hand | 135,945 | 170,969 | |
| 224,876 | 187,711 | ||
| Creditors: amounts falling due within one year | 20 | 68,661 | 28,321 |
| Net current assets | 156,215 | 159,390 | |
| Total assets less current liabilities | 159,309 | 163,631 | |
| Net assets | 159,309 | 163,631 | |
| ================= | ================= | ||
| Funds of the charity | |||
| Restricted funds | 48,430 | 1,855 | |
| Unrestricted funds | 110,879 | 161,776 | |
| Total charity funds | 23 | 159,309 | 163,631 |
| ================= | ================= |
For the year ending 31 March 2024 the charity was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
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The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
These financial statements were approved by the board of trustees and authorised for issue on ......................... , and are signed on behalf of the board by:
Signed on 01/08/24 @ 08:54
Prof D Symonds Trustee
Company number 3730138 Charity number 1086483
The notes on pages 9 to 17 form part of these financial statements.
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soundLINCS
Company Limited by Guarantee
Notes to the Financial Statements
Year ended 31 March 2024
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. The financial statements are prepared in sterling, which is the functional currency of the entity. soundLINDCS is a public benefit entity as defined by FRS 102.
Going concern
The accounts have been prepared on the going concern basis There are no material uncertainties about the charity's ability to continue.
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 2024
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.
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soundLINCS
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 March 2024
5. Donations and legacies
| Unrestricted Funds Total Funds 2024 Unrestricted Funds Total £ £ £ Donations MUSIC:LINK subscriptions 1,215 1,215 1,580 Donations 2,503 2,503 1,958 3,718 3,718 3,538 ============ ============ ============ ==== |
Funds 2023 £ 1,580 1,958 3,538 ======== |
|---|---|
6. Charitable activities
| Unrestricted | Restricted | Total Funds | |
|---|---|---|---|
| Funds | Funds | 2024 | |
| £ | £ | £ | |
| Projects and workshops income | 11,764 | 51,221 | 62,985 |
| Newark and Sherwood District Council -OpenSounds | – | 40,000 | 40,000 |
| Lincolnshire County Council- Springwell Outreach | – | 14,000 | 14,000 |
| Linconshire CountyCouncil – Bourne Community Radio | – | 10,000 | 10,000 |
| UpBEAT! | – | 111,575 | 111,575 |
| Postlethwaite Music Foundation | – | 3,000 | 3,000 |
| 11,764 | 229,796 | 241,560 | |
| ============== | ================= | ================= | |
| Unrestricted | Restricted | Total Funds | |
| Funds | Funds | 2023 | |
| £ | £ | £ | |
| Projects and workshops income | 44,203 | – | 44,203 |
| Postlethwaite Music Foundation | 1,000 | 3,000 | 4,000 |
| Lincoln Sings | – | 1,992 | 1,992 |
| UpBEAT! | 528 | 65,540 | 66,068 |
| 45,731 | 70,532 | 116,263 | |
| ============== | ================= | ================= |
7. Other trading activities
| Unrestricted | Total Funds | Unrestricted | Total Funds | |
|---|---|---|---|---|
| Funds | 2024 | Funds | 2023 | |
| £ | £ | £ | £ | |
| Premises rental | 27,802 | 27,802 | 27,858 | 27,858 |
| ============== | ============== | ============== | ============== |
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soundLINCS
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 March 2024
| 8. | Investment income | ||||
|---|---|---|---|---|---|
| Unrestricted | Total Funds | Unrestricted | Total Funds | ||
| Funds | 2024 | Funds | 2023 | ||
| £ | £ | £ | £ | ||
| Bank interest receivable | 1,123 | 1,123 | 337 | 337 | |
| ============== | ======= | ======= | ======= | ||
| 9. | Other income | ||||
| Unrestricted | Total Funds | Unrestricted | Total Funds | ||
| Funds | 2024 | Funds | 2023 | ||
| £ | £ | £ | £ | ||
| Gift Aid | 183 | 183 | 80 | 80 | |
| Sundry income | – | – | 98 | 98 | |
| ------------ | ------------ | ------------ | ------------ | ||
| 183 | 183 | 178 | 178 | ||
| ============ | ============ | ============ | ============ | ||
| 10. | Costs of raising donations and legacies | ||||
| Unrestricted | Total Funds | Unrestricted | Total Funds | ||
| Funds | 2024 | Funds | 2023 | ||
| £ | £ | £ | £ | ||
| Costs of raising donations and legacies | 6,242 | 6,242 | 7,371 | 7,371 | |
| ============ | ============ | ============ | ============ | ||
| 11. | Expenditure on charitable activities by | fund type | |||
| Unrestricted | Restricted | Total Funds | |||
| Funds | Funds | 2024 | |||
| Projects and workshops expenditure | 73,889 | – | 73,889 | ||
| Newark and Sherwood District Council -OpenSounds | – | 40,000 | 40,000 | ||
| Lincolnshire County Council- Springwell Outreach | 14,000 | 14,000 | |||
| Linconshire CountyCouncil – Bourne Community Radio | 10,000 | 10,000 | |||
| UpBEAT! | 116,221 | 116,221 | |||
| Postlethwaite Music Foundation | 3,000 | 3,000 | |||
| Support costs | 15,356 | – | 15,356 | ||
| 89,245 | 183,221 | 272,466 | |||
| ================= | ================= | ================= | |||
| Unrestricted | Restricted | Total Funds | |||
| Funds | Funds | 2023 | |||
| £ | £ | £ | |||
| Projects and workshops | 104,666 | 78,655 | 183,321 | ||
| Support costs | 14,086 | 1,232 | 15,318 | ||
| 118,752 | 79,887 | 198,639 | |||
| ================= | ================= | ================= |
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soundLINCS
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 March 2024
12. Expenditure on charitable activities by activity type
| Activities | Activities | ||||||
|---|---|---|---|---|---|---|---|
| undertaken | Total | funds | Total fund | ||||
| directly | Support costs | 2024 | 2023 | ||||
| £ | £ | £ | £ | ||||
| Projects and workshops | 257,110 | 6,320 | 263,430 | 190,389 | |||
| Governance costs | – | 9,036 | 9,036 | 8,250 | |||
| 257,110 | 15,356 | 272,466 | 198,639 | ||||
| ================= | ============== | ================= | ================= | ||||
| 13. | Analysis of support costs | ||||||
| Projects and | |||||||
| workshops | Total 2024 | Total 2023 | |||||
| £ | £ | £ | |||||
| Staff costs | 4,755 | 4,755 | 5,257 | ||||
| General office | 1,565 | 1,565 | 1,811 | ||||
| Governance costs | 9,036 | 9,036 | 8250 | ||||
| 15,356 | 15,356 | 15,318 | |||||
| ============== | ============== | ============== | |||||
| 14. | Net income | ||||||
| Net income is stated after charging/(crediting): | |||||||
| 2024 | 2023 | ||||||
| £ | £ | ||||||
| Depreciation of tangible fixed assets | 1,032 | 1,414 | |||||
| Loss on disposal of fixed assets | 876 | – | |||||
| _ | |||||||
| 1,908 | 1,414 | ||||||
| ============ | ============ | ||||||
| 15. | Independent examination fees | ||||||
| 2024 | 2023 | ||||||
| £ | £ | ||||||
| Fees payable to the independent examiner | for: | ||||||
| Independent examination of the financial statements | 1,224 | 1,212 | |||||
| Other financial services | 738 | 732 | |||||
| 1,962 | 1,944 | ||||||
| ============ | ============ | ||||||
| 16. | Staff costs | ||||||
| The total staff costs and employee benefits for the reporting | period are analysed as follows: | ||||||
| 2024 | 2023 | ||||||
| £ | £ | ||||||
| Wages and salaries | 133,491 | 94,605 | |||||
| Social security costs | 8,488 | 5,094 | |||||
| Employer contributions to pension plans | 2,859 | 2,156 | |||||
| 144,838 | 101,855 | ||||||
| ================= | ================= |
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soundLINCS
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 March 2024
16. Staff costs (continued)
The average head count of employees during the year was 4 (2023: 3). The average number of full-time equivalent employees during the year is analysed as follows:
| 2024 | 2023 | |
|---|---|---|
| No. | No. | |
| Management | 1 | 1 |
| Project | 2 | 1 |
| Administrative | 1 | 1 |
| 4 | 3 | |
| ======= | ======= |
No employee received employee benefits of more than £60,000 during the year (2023: 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 £56,942 (2023: £54,230).
17. Trustee remuneration and expenses
No remuneration from employment with the charity were received by any of the trustees during the year. £478 was paid for Christmas entertainment for four volunteers, one member of the board of trustees and the four members of staff.
No expenses were paid to any of the trustees during the year (2023: Nil).
18. Tangible fixed assets
| Equipment | |
|---|---|
| £ | |
| Cost | |
| At 1 April 2023 | 48,845 |
| Additions | 761 |
| Disposals | (23,465) |
| At 31 March 2024 | 26,141 |
| ============== | |
| Depreciation | |
| At 1 April 2023 | 44,604 |
| Charge for the year | 1,032 |
| On disposals | (22,589) |
| At 31 March 2024 | 23,047 |
| ============== | |
| Carrying amount | |
| At 31 March 2024 | 3,094 |
| ============== | |
| At 31 March 2023 | 4,241 |
| ============== |
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soundLINCS
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 March 2024
19. Debtors
| Trade debtors Prepayments and accrued income Other debtors ==== 20. Creditors: amounts falling due within one year Trade creditors Accruals and deferred income Social security and other taxes Deposits Soaring Skywards ==== 21. Deferred income At 1 April 2023 Amount released to income Amount deferred in year At 31 March 2024 ======= |
== == |
2024 £ 79,860 8,810 261 88,931 ======== == 2024 £ 14,645 47,282 3,573 2,998 163 68,661 ======== == 2024 £ 5,000 (5,000) 41,870 41,870 ========= |
== == |
2023 £ 7,851 8,812 79 16,742 ========== 2023 £ 12,920 9,673 2,967 2,598 163 28,321 ========== 2023 £ 7,615 (7,615) 5,000 5,000 =============== |
|---|---|---|---|---|
| = | == |
Deferred income relates to funding incvoiced at 31 March 2024 for projects which had not been completed or not started 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 £2,859 (2023: £2,156).
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soundLINCS
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 March 2024
23. Analysis of charitable funds
Unrestricted funds
| At 1 April 2022 £ General funds 210,257 ============== ==== Restricted funds At 1 April 2023 £ OpenSounds LCC Springwell LCC Lincoln Sings 1,855 UpBEAT! – LCC Bourne Community Radio Postlethwaite Music Foundation – – 1,855 ============== === At 1 April 2022 £ LCC Lincoln Sings 4,000 UpBEAT! 5,950 Adults with complex needs Postlethwaite Music Foundation 1,260 – 11,210 ============== === At 1 April 2023 £ General funds 161,776 ================= ==== |
Income Expenditure Transfers At 31 March 2023 £ £ £ £ 77,642 (126,123) – 161,776 ============= ================= ======= ================= Income Expenditure Transfers At 31 March 2024 £ £ £ £ 40,000 (40,000) – 14,000 (14,000) – – – – 1,855 162,796 (116,221) – 46,575 10,000 3,000 (10,000) (3,000) – – – – 229,796 (183,221)) – 48,430 ============== ================= ======= ============== Income Expenditure Transfers At 31 March 2023 £ £ £ £ 1,992 (4,137) – 1,855 65,540 (71,490) – – – 3,000 (1,260) (3,000) – – – – 70,532 (79,887)) – 1,855 ============== ================= ======= ============== Income Expenditure Transfers At 31 March 2024 £ £ £ £ 44,590 (95,487) – 110,879 ============= ================= ======= ================ |
|---|---|
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soundLINCS
Company Limited by Guarantee
Notes to the Detailed Statement of Financial Activities (continued)
Year ended 31 March 2024
| 2024 | 2023 |
|---|---|
| £ | £ |
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 | 2024 | |
| £ | £ | £ | |
| Tangible fixed assets | 3,094 | – | 3,094 |
| Current assets | 128,354 | 96,522 | 224,876 |
| Creditors less than 1 year | (20,569) | (48,092) | (68,661) |
| Net assets | 110,879 | 48,430 | 159,309 |
| ================= | ============== | ================= | |
| Unrestricted | Restricted | Total Funds | |
| Funds | Funds | 2023 | |
| £ | £ | £ | |
| Tangible fixed assets | 4,241 | – | 4,241 |
| Current assets | 175,864 | 11,847 | 187,711 |
| Creditors less than 1 year | (18,329) | (9,992) | (28,321) |
| Net assets | 161,776 | 1,855 | 163,631 |
| ================= | ============== | ================= |
25. Operating lease commitments
The total future minimum lease payments under non-cancellable operating leases are as follows:
| 2024 | 2023 | ||||
|---|---|---|---|---|---|
| £ | £ | ||||
| Not | later than | 1 | year | ||
| 1-5 | years | 7,836 | 6,900 | ||
| 3,510 | 1,601 | ||||
| ============ | ============ |
26. Related parties
One member of staff is a domestic partner of one of the trustees. This trustee declares an interest at times of salary reviews and staffing matters. There were no other related party transactions during the year.
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