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|||||Page|
|---|---|---|---|---|
|Reference and administrative||details||1-2|
|Chair's statement|||||
|Trustees'<br>report||||4-23|
|Trustees'<br>responsibilities|statement|||24|
|Independent<br>auditor's<br>report||on the|financial statements|25-28|
|Consolidated<br>statement|offinancial||activities|29-30|
|Consolidated<br>balance sheet||||31|
|Company<br>balance sheet||||32|
|Consolidated<br>statement|ofcash flows|||33|
|Notes to the flinanciai statements||||34-67|





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## 

|Year ended|3|1 March|2021|2021|2021||
|---|---|---|---|---|---|---|
|Trustees|||Lord Falconer ofThoroton, Charles Leslie Falconer, Chair|||(resigned 30June 2020)|
||||Sir Martin Narey, Chair||||
||||D B Bradford (resigned 30June 2020)||||
||||ECox MBE||||
||||SDas||||
||||MD Sice||||
||||H Florek||||
||||M Gannon<br>(resigned 30June 2020)||||
||||Y HKim||||
||||RJ McEwan-Brown<br>OBE, Vice Chair||||
||||S G Speed||||
||||V Sarangapani||||
||||T Wadsworth<br>CBE||||
||||J Spiers||||
||||J M Scannell||||
||||C Jackson||||
|Company<br>number|registered||04044936||||
|Charity registered<br>number|||1087445||||
|Registered|office||The Sage Gateshead<br>St Mary's Square||||
||||Gateshead||||
||||Tyne and Wear||||
||||NE8 2JR||||
|Company|secretary||LTuck||||
|Senior management<br>team|||A Pogson, Managing<br>Director<br>LTuck, Chief Operating<br>Officer<br>SVening, Finance Director<br>Colin Johnson,<br>Finance Director (resigned 10December 2020)<br>F Anderson,<br>Director External Relations<br>and Strategic Planning<br>T Dittes, Director ofRNS &Classical Music<br>W Smith, Director, Contemporary<br>Music<br>EFlounders,<br>Director of Marketing<br>8 Communications<br>(resigned 7August 2020)||||
|Independent||auditor|UNW LLP<br>Chartered<br>Accountants||||
||||Cityg ate||||
||||St James' Boulevard||||
||||Newcastle<br>upon Tyne||||
||||NE1 4JE||||





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|||Unrestricted|Restricted|Endowment|Total|Restated|
|---|---|---|---|---|---|---|
|||funds|funds|funds|funds|Total funds|
|||2021|2021|2021|2021|2020|
||Note||||E||
|Income and|||||||
|endowments<br>from:|||||||
|Donations<br>and legacies||10,086,625|2,139,525||12,226, 'I 50|6,192,927|
|Charitable<br>activities||914,696|||914,696|6,455,615|
|Other trading<br>activities||181,149|||181,149|2,966,633|
|Investments||14,168||161,378|175,546|272,430|
|Other income||||||70,523|
|Total income and<br>endowments||11,196,638|2,139,525|161,378|13,497,541|15,958,128|
|Expenditure<br>on:|||||||
|Raising funds:|||||||
|Fundraising||566,995||38,672|605,667|739,061|
|Trading<br>activities||1,346,570|||1,346,570|3,045,052|
|Charitable<br>activities|8|6,371,113|509,566||6,880,679|10,957,246|
|Exceptional costs|11|601,466|||601,466||
|Total expenditure||8,886,144|509,566|38,672|9,434,382|14,741,359|
|Net income before|||||||
|net gains/(losses)|||||||
|on investments||2,310,494|1,629,959|122,706|4,063,159|1,216,769|
|Net gains/(losses)<br>on|||||||
|investments||||1,032,429|1,032,429|(492,410)|
|Net income<br>/|||||||
|(expenditure)||2,310,494|1,629,959|1,155,135|5,095,588|724,359|
|Transfers<br>between|||||||
|funds|21|774,560|(934,636)|160,076|||
|Net movement<br>in<br>funds||3,085,054|695,323|1,315,211|5,095,588|724,359|





## 

||||Unrestricted|Restricted|Endowment|Total|Total|
|---|---|---|---|---|---|---|---|
||||funds|funds|funds|funds|funds|
||||2021|2021|2021|2021|2020|
|||Note||E|E|||
|Reconciliation|of|||||||
|funds:||||||||
|Total funds brought||||||||
|forward|||2,285,369|1,107,932|6,034,312|9,427,613|8,703,254|
|Net movement|in funds||3,085,054|695,323|1,315,211|5,095,588|724,359|
|Total funds carried<br>forward|||5,370,423|1,803,255|7,349,523|14,523,201|9,427,613|





## 

## 

## 

|||||2021||2020|
|---|---|---|---|---|---|---|
|||Note||||F|
|Fixed assets|||||||
|Intangible assets||14||370||4,732|
|Tangible assets||15||3,170,873||2,345,362|
|Investments||16||7,349,523||6,355,766|
|||||10,520,766||8,705,860|
|Current assets|||||||
|Stocks||17|28,746||39,281||
|Debtors||18|1,542,815||2,317,377||
|Cash at bank and in hand|||9,650,367||3,773,274||
||||11,221,928||6,129,932||
|Creditors: amounts|falling due within one||||||
|year||19|(3,994,263)||(5,101,868)||
|Net current assets||||7,227,665||1,028,064|
|Total assets less current liabilities||||17,748,431||9,733,924|
|Creditors: amounts|falling due after more||||||
|than one year||20||(3,225,230)||(306,311)|
|Total net assets||||14,523,201||9,427,613|
|Charity funds|||||||
|Endowment<br>funds||21||7,349,523||6,034,312|
|Restricted funds||21||1,803,255||1,107,932|
|Unrestricted<br>funds||21||5,370,423||2,285,369|
|Total funds||||14,523,201||9,427,613|





## 

## 

## 

|||||2021||2020|
|---|---|---|---|---|---|---|
|||Note||E|||
|Fixed assets|||||||
|Intangible assets||14||370||4,732|
|Tangible assets||15||3,133,296||2,271,866|
|Investments||16||7,349,525||6,355,768|
|||||10,483,191||8,632,366|
|Current assets|||||||
|Debtors||18|2,657,826||2,908,256||
|Cash at bank and|in hand||7,955,717||1,999,600||
||||10,613,543||4,907,856||
|Creditors: amounts|falling due within one||||||
|year||19|(3,745,021)||(4,746,706)||
|Net current assets||||6,868,522||161,150|
|Total assets less|current liabilities|||17,351,713||8,793,516|
|Creditors: amounts|falling due after more||||||
|than one year||20||(3,225,230)||(298,334)|
|Total net assets||||14,126,483||8,495,182|
|Charity funds|||||||
|Endowment<br>funds||21||7,349,523||6,034,312|
|Restricted funds||21||928,255||1,107,932|
|Unrestricted<br>funds||21||5,848,705||1,352,938|
|Total funds||||14,126,483||8,495,182|





## 

## 

## 

||||2021|2020|
|---|---|---|---|---|
||||E|F|
|Cash flows from operating<br>activities|||||
|Net cash used in operating<br>activities|||3,877,651|999,122|
|Cash flows from investing<br>activities|||||
|Dividends,<br>interests<br>and rents from investments|||175,546|272,430|
|Purchase of intangible<br>assets||||(634)|
|Purchase oftangible<br>fixed assets|||(1,126,539)|(780,349)|
|Proceeds from sale ofinvestments|||3,629,425|1,896,137|
|Purchase ofinvestments|||(3,590,754)|(1,853,173)|
|Net cash used in investing<br>activities|||(912,322)|(465,589)|
|Cash flows from financing<br>activities|||||
|Cash inflows from new borrowing|||3,000,000||
|Repayments<br>of borrowing|||(73,104)|(63,509)|
|Repayments<br>offinance leases|||(15,132)|(30,292)|
|Net cash provided<br>by/(used<br>in) financing||activities|2,911,764|(93,801)|
|Change<br>in cash and cash equivalents|in|the year|5,877,093|439,732|
|Cash and cash equivalents<br>at the beginning||ofthe year|3,7?3,274|3,333,542|
|Cash and cash equivalents<br>at the end of||the year|9,650,367|3,773,274|
|The notes on pages 34to 67 form part ofthese financial statements|||||





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|intangible<br>asset is recognised as income <br> Tangible fixed assets|intangible<br>asset is recognised as income <br> Tangible fixed assets|intangible<br>asset is recognised as income <br> Tangible fixed assets|and expenditure.|and expenditure.|||||
|---|---|---|---|---|---|---|---|---|
|Individual<br>tangible<br>fixed assets<br>costing|||F5,000 or more are capitalised.||Fixed assets are||initially||
|measured<br>at cost and subsequently||measured||at cost less accumulated<br>depreciation.||Depreciation||is|
|calculated so as to write off|the cost|ofan|asset, net ofanticipated<br>disposal||proceeds,|over the|useful||
|economic life ofthe assets as follows:|||||||||
|Furniture,<br>fixtures and fittings||||3-10years straight<br>line|||||
|Music||||10years straight<br>line|||||
|Instruments||||10years straight<br>line|||||
|Computer<br>equipment||||3years straight<br>line|||||
|Technical equipment||||5years straight<br>line|||||
|Leasehold<br>property|improvements|||10years straight<br>line|||||
|Forestage<br>lift||||50years straight<br>line|||||
|Kitchen and catering|equipment|||3-5years straight<br>line|||||
|Car park equipment||||5years straight<br>line|||||



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|||||||Unrestricted|Restricted|Total|
|---|---|---|---|---|---|---|---|---|
|||||||funds|funds|funds|
|||||||2021|2021|2021|
|||||||F|E||
|Arts Council|England -|core grant||||3,576,744||3,576,744|
|GMBC -core grant||||||187,534||187,534|
|Other grants,|recovery|grant corporate donations|||and||||
|fundraising||||||3,183,223|2,139,525|5,322,748|
|Government|grants|||||2,475,426||2,475,426|
|Community|Foundation|-Sage Gateshead||Fund||663,698||663,698|
|||||||10,086,625|2,139,525|12,226,150|
|||||||Unrestricted|Restricted|Total|
|||||||funds|funds|funds|
|||||||2020|2020|2020|
|||||||F||F|
|Arts Council|England -|core grant||||3,512,124||'3,512,124|
|GMBC - core grant||||||187,033||187,033|
|Other grants, corporate||donations|and fundraising|||537,538|1,180,081|1,717,619|
|Other grant|income|||||68,755||68,755|
|Community|Foundation|-Sage Gateshead||Fund*||707,396||707,396|
|||||||5,012,846|1,180,081|6,192,927|





## 

## 

## 

## 

||||||||Unrestricted|Total|
|---|---|---|---|---|---|---|---|---|
||||||||funds|funds|
||||||||2021|2021|
|Total|income|from|charitable|activities|||914,696|914,696|
||||||Un|restiicted|Restricted|Total|
|||||||funds|funds|funds|
|||||||2020|2020|2020|
|Total|income|from|charitable|activities||5,764,826|690,789|6,455,615|



## 

|||Popular and|Total|
|---|---|---|---|
||Classical|contemp.|funds|
||2021|2021|2021|
||F|||
|Boxoffice income|71,357|437|71,794|
|Orchestra tax relief|34,395||34,395|
|Total 2021|105,752|437|106,189|
|||Popular and|Total|
||Classical|contemp.|funds|
||2020|2020|2020|
|||E|E|
|Boxoffice income|1,703,793|2,306,719|4,010,512|
|Orchestra tax relief|905,134||905,134|
|Other income|8,165|293|8,458|
|Total 2020|2,617,092|2,307,012|4,924,104|





## 

## 

## 

## 

||||Young|Public||
|---|---|---|---|---|---|
||||people|engagement|Total|
||||programme|programme|funds|
||||2021f|2021<br>f.|2021|
|Fee income|||762,643|43,370|806,013|
|Sundry income|||2,494||2,494|
|Total 2021|||765,137|43,370|808,507|
||||Young|Public||
||||people|engagement|Total|
||||programme|programme|funds|
||||2020|2020|2020|
||||||F|
|Fee income|||1,207,318|319,930|1,527,248|
|Sundry income||||4,263|4,263|
|Total 2020|||1,207,318|324,193|1,531,511|
|Income from|trading|activities||||
|||||Unrestricted|Total|
|||||funds|funds|
|||||2021|2021|
|Conferences|and events|||165,232|165,232|
|Catering<br>income||||2,700|2,700|
|Car park income||||13,177|13177|
|Retail sales||||40|40|
|||||181,149|181,149|



## 



## 

## 

## 

||||Unrestricted|Total|
|---|---|---|---|---|
||||funds|funds|
||||2020|2020|
|Conferences||and events|684,690|684,690|
|Catering|income||1,839,814|1,839,814|
|Car park|income||244,478|244,478|
|Retail sales|||197,651|197,651|
||||2,966,633|2,966,633|



## 

||Unrestricted|Endowment|Total|
|---|---|---|---|
||funds|funds|funds|
||2021<br>E|2021<br>f|2021|
|Bank interest|14,168||14,168|
|Dividends||161,378|161,378|
|Total 2021|14,168|161,378|175,546|
||Unrestricted|Endowment|Total|
||funds|funds|funds|
||2020|2020|2020|
||F|F|f.|
|Bank interest|10,674||10,674|
|Dividends||261,756|261,756|
|Total 2020|10,674|261,756|272,430|





## 

## 

## 

## 

||||Unrestricted|Endowment|Total|
|---|---|---|---|---|---|
||||funds|funds|funds|
||||2021|2021|2021|
|||||F|f.|
|Building expenses|||258||258|
|Marketing|expenses||218,809||218,809|
|Investment|management|costs||38,672|38,672|
|Allocation|ofsupport costs (note 10)||347,928||347,928|
||||566,995|38,672|605,667|



||||Restated|||
|---|---|---|---|---|---|
||||Unrestricted|Endowment|Total|
||||funds|funds|funds|
||||2020|2020|2020|
|||||F|f.|
|Marketing|expenses||266,854||266,854|
|Investment|management|costs||42,964|42,964|
|Allocation|of support costs (note 10)||429,243||429,243|
||||696,097|42,964|739,061|





## 

## 

## 

## 

||||Unrestricted|Total|
|---|---|---|---|---|
||||funds|funds|
||||2021|2021|
|Conferences||and events|167,498|167,498|
|Catering|expenses||520,653|520,653|
|Car park|expenses||18,369|18,369|
|Retail expenses|||33,223|33223|
|Allocation|of|support costs (note 10)|606,827|606,827|
|Total 2021|||1,346,570|1,346,570|



|||Restated||
|---|---|---|---|
|||Unrestricted|Total|
|||funds|funds|
|||2020|2020|
|||E|E|
|Conferences|and events|439,419|439,419|
|Catering expenses||1,587,152|1,587,152|
|Car park expenses||17,914|17,914|
|Retail expenses||209,971|209,971|
|Allocation of|support costs (note 10)|790,596|790,596|
|Total 2020||3,045,052|3,045,052|





## 

## 

## 

## 

||||Unrestricted|Restricted|Total|
|---|---|---|---|---|---|
||||funds|funds|funds|
||||2021|2021|2021f|
|Provision|ofcharitable|activities|6,371,113|509,566|6,880,679|
||||Unrestricted|Restricted|Total|
||||funds|funds|funds|
||||2020|2020|2020|
||||E|f.|F|
|Provision|ofcharitable|activities|10,134,106|823,140|10,957,246|



## 

||||Direct|Support|Total|
|---|---|---|---|---|---|
||||costs|costs|funds|
||||2021|2021|2021|
||||E||f,|
|Provision|ofcharitable|activities|3,672,320|3,208,359|6,880,679|
||||Direct|Support|Total|
||||costs|costs|funds|
||||2020|2020|2020|
||||E||F|
|Provision|ofcharitable|activities|6,716,503|4,240,743|10,957,246|





## 

## 

||||Popular and|Total|
|---|---|---|---|---|
|||Classical|contemp.|funds|
|||2021|2021|2021|
|Staff costs||1,464,814|190,601|1,655,415|
|Artist costs||60,636|26,451|87,087|
|Orchestra|and soloist costs|69,372||69,372|
|Technical|costs|65,718|22,896|88,614|
|Travel and|subsistence|6,778|35|6,813|
|Other costs||80,066|6,793|86,859|
|Allocation|of support costs|997,353|997,352|1,994,705|
|||2,744,737|1,244,128|3,988,865|



||||Restated||
|---|---|---|---|---|
|||Restated|Popular and|Total|
|||Classical|contemp.|funds|
|||2020|2020|2020|
|||||F|
|Staff costs||1,620,484|532,803|2,153,287|
|Artist costs||287,976|667,209|955,185|
|Orchestra|and soloist costs|722,180||722,180|
|Technical|costs|435,869|112,734|548,603|
|Travel and|subsistence|74,990|21,848|96,838|
|Other costs||132,270|298,031|430,301|
|Allocation|ofsupport costs|1,329,775|1,329,775|2,659,550|
|||4,603,544|2,962,400|7,565,944|





## 

## 

## 

## 

||||Young|Public|||
|---|---|---|---|---|---|---|
||||people|engagement||Total|
||||programme|programme|Both|funds|
||||2021|2021|2021|2021|
||||||f,|E|
|Staff costs|||641,915|98,426||740,341|
|Self-employed||fees|8,010|||8,010|
|Travel and|subsistence||(4,935)|||(4,935)|
|Resources|||14,086|||14,086|
|Training|||144|||144|
|Hire costs|||(511)|||(511)|
|Other costs|||50,922|704|869,399|921,025|
|Allocation|of support costs||606,827|606,827||1,213,654|
||||1,316,458|705,957|869,399|2,891,814|
||||Restated|Restated|||
||||Young|Public|||
||||people|engagement||Total|
||||programme|programme|Both|funds|
||||2020|2020|2020|2020|
|||||E|||
|Staff costs|||1,190,177|400,214||1,590,391|
|Self-employed||fees|26,426|||26,426|
|Travel and|subsistence||29,359|417||29,776|
|Resources|||49,514|2,748||52,262|
|Training|||2,026|||2,026|
|Hire costs|||9,555|3,694||13,249|
|Other costs|||57,779|5,447|299,606|362,832|
|Allocation|of|support costs|790,596|790,596||1,581,192|
||||2,155,432|1,203,116|299,606|3,658,154|





## 

## 

## 

|||||Costs of||||
|---|---|---|---|---|---|---|---|
|||||raising|Trading|Charitable|Total|
|||||funds|activities|activities|funds|
|||||2021|2021|2021|2021|
||||||E|E||
|Direction|and|policy||76,238|35,578|142,312|254,128|
|Human<br>resources||||7,586|28,826|115,303|151,715|
|Building|services|||48,725|185,154|740,618|974,497|
|Finance,|accountancy||and audit|33,672|33,672|134,689|202,033|
|IT||||64,156|64,156|256,626|384,938|
|Marketing|and|customer experience||57,679|115,358|980,547|1,153,584|
|Irrecoverable||VAT||7,476|28,408|113,630|149,514|
|Tech Team||||22,265|44,529|378,493|445,287|
|Process|Planning|||6,840|13,680|116,277|136,797|
|Depreciation||||12,205|46,380|185,521|244,106|
|Other costs||||11,086|11,086|44,343|66,515|
|||||347,928|606,827|3,208,359|4,163,114|



|statement|s<br>as|the bas|is for allocation<br>in th|e prior year has also b|een revised a|s below.||
|---|---|---|---|---|---|---|---|
|||||Restated|Restated|Restated||
|||||costs of|trading|charitable|Total|
|||||raising funds|activites|activities|funds|
|||||2020|2020|2020|2020|
|||||E||F||
|Direction|and|policy||90,652|42,304|169,216|302,172|
|Human<br>resources||||8,378|31,836|127,346|167,560|
|Building|services|||76,064|289,043|1,156,174|1,521,281|
|Finance.|accountancy||and audit|49,727|49,727|198,907|298,361|
|IT||||60,356|60,356|241,422|362,134|
|Marketing|and|customer experience||86,579|173,158|1,471,844|1,731,581|
|Irrecoverable||VAT||6,952|26,416|105,663|139,031|
|Tech Team||||24,831|49,662|422,125|496,618|
|Process|Planning|||8,408|16,815|142,929|168,152|
|Depreciation||||12,136|46,118|184,473|242,727|
|Other costs||||5,161|5,161|20,645|30,967|
|||||429,244|790,596|4,240,744|5,460,584|





## 

## 

## 

## 

|||Unrestricted|Total|Total|
|---|---|---|---|---|
|||funds|funds|funds|
|||2021|2021|2020|
|||F|F|F|
|Restructuring|costs|601,466|601,466||



## 

||||2021|2020|
|---|---|---|---|---|
|Depreciation<br>oftangible||fixed assets:|||
|-owned|by the charitable<br>group||298,865|273,039|
|Amortisation<br>of intangible<br>fixed assets|||4,362|8,354|
|Auditor's|remuneration|-audit|17,400|16,550|
|Auditor's|remuneration|-other services|1,250|1,200|
|Operating|lease rentals||14,687|14,589|



## 

|Staff costs||||||||
|---|---|---|---|---|---|---|---|
|||||Group|Group|Company|Company|
|||||2021|2020|2021|2020|
|||||F|E|F|F|
|Wages and|salaries|||3,167,124|7,268,100|2,549,393|6,170,120|
|Social security costs||||301,742|499,797|285,027|443,585|
|Contribution|to defined|contribution|pension|||||
|schemes||||186,115|460,260|180,129|439,379|
|||||3,654,981|8,228,157|3,014,549|7,053,084|





## 

## 

## 

## 

|||Group|Group|Company|Company|
|---|---|---|---|---|---|
|||2021|2020|2021|2020|
|||No.|No.|No.|No.|
|Performance|Programming|50|53|50|53|
|Creative Learning||107|132|107|132|
|Management|and administration|108|69|108|69|
|Customer services team||243|211|243|211|
|||508|465|508|465|



|Group|Group|
|---|---|
|2021|2020|
|No|No|



## 



## 

## 

## 

|14.|Intangible assets||
|---|---|---|
||Group and company||
|||Software &|
|||website|
|||development|
|||E|
||Cost||
||At 1 April 2020|60,163|
||At 31 March 2021|60,163|
||Amortisation||
||At 1 April 2020|55,431|
||Charge for the year|4,362|
||At 31 March 2021|59,793|
||Net book value||
||At 31 March 2021|370|
||At 31 March 2020|4,732|





## 

## 

## 

## 

||Leasehold|Fixtures,||Assets||
|---|---|---|---|---|---|
||property|fittings &||under||
||improvements|equipment|Instruments|construction|Total|
||||E.|E||
|Cost||||||
|At 1 April 2020|'I,540,659|3,384,659|617,624|573,448|6,116,390|
|Additions||201,319||925,220|1,126,539|
|Disposals||(14,503)|||(14,503)|
|At 31 March 2021|1,540,659|3,571,475|617,624|1,498,668|7,228,426|
|Depreciation||||||
|At 1 April 2020|811,456|2,606,380|353,192||3,771,028|
|Charge for the year|44,660|218,926|23,190||286,776|
|On disposals||(251)|||(251)|
|At 31 March 2021|856,116|2,825,055|376,382||4,057,553|
|Net book value||||||
|At 31 March 2021|684,543|746,420|241,242|1,498,668|3,170,873|
|At 31 March 2020|729,203|778,279|264,432|573,448|2,345,362|





## 

## 

## 

||Leasehold|Fixtures,||Assets||
|---|---|---|---|---|---|
||property|fittings &||under||
||improvements|equipment|Instruments|construction|Total|
||E|E||f.|F|
|Cost||||||
|At 1 April 2020|1,540,659|2,609,052|617,624|573,448|5,340,783|
|Additions||199,156||925,220|1,124,376|
|At 31 March 2021|1,540,659|2,808,208|617,624|1,498,668|6,465,159|
|Depreciation||||||
|At 1 April 2020|811,456|1,904,269|353,192||3,068,917|
|Charge for the year|44,660|195,096|23,190||262,946|
|At 31 March 2021|856,116|2,099,365|376,382||3,331,863|
|Net book value||||||
|At 31 March 2021|684,543|708,843|241,242|1,498,668|3,133,296|
|At 31 March 2020|729,203|704,783|264,432|573,448|2,271,866|





## 

## 

## 

## 

|||||Listed|
|---|---|---|---|---|
|||||investments|
|Group|||||
|Cost or valuation|||||
|At 1 April 2020||||6,355,766|
|Additions||||3,590,754|
|Disposals||||(2,867,333)|
|Revaluations||||270,336|
|At 31 March 2021||||7,349,523|
|Net book value|||||
|At 31 March 2021||||7,349,523|
|At 31 March 2020||||6,355,766|
||Investments||||
||in||||
||subsidiary||Listed||
|Company|companies|f|investments|Total<br>f,|
|Cost or valuation|||||
|At 1 April 2020|||6,355,766|6,355,768|
|Additions|||3,590,754|3,590,754|
|Disposals|||(2,867,333)|(2,867,333)|
|Revaluations|||270,336|270,336|
|At 31 March 2021||2|7,349,523|7,349,525|
|Net book value|||||
|At 31 March 2021||2|7,349,523|7,349,525|
|At 31 March 2020||2|6,355,766|6,355,768|





## 

## 

## 

## 

## 

||The following|w|ere subsidiary<br>undertaki|ngs<br>ofthe company:||||||
|---|---|---|---|---|---|---|---|---|---|
||Names|||Company|Class of|Holding<br>Included|||in|
|||||number|shares||consolidation|||
||Music North Limited|||04344453|Ordinary||100% Yes|||
||Royal Northern||Sinfonia Limited|100998218|Ordinary||100% Yes|||
||The financial|results ofthe subsidiaries||for the year were:||||||
||Names|||Income<br>Expenditure||Profit/(Loss)|||Net|
||||||F|for|the year|assets/(liabi||
||||||||F||lities)|
||Music North|Limited||181,149|(797,254)||(164,802)||(54,072)|
||Royal Northern||Sinfonia Limited|1,805,625<br>2,200,411|||(394,786)|426,620||
|17.|Stocks|||||||||
||||||||Group||Group|
||||||||2021||2020|
||||||||F||F|
||Goods for resale||||||28,746||39,281|
|1&.|Debtors|||||||||
|||||Group|Group||Company|Company||
|||||2021|2020||2021||2020|
|||||||F||||
||Trade debtors|||284,961|580,909||155,579||379,740|
||Amounts<br>owed||by group undertakings||||1,932,951|2,061,894||
||Other debtors|||852,834|1,555,986||188,661||134,557|
||Prepayments|and accrued income||405,020|180,482||380,635||332,065|
|||||1,542,815|2,317,377||2,657,826|2,908,256||





## 

## 

## 

## 

||||||Group|Group|Company|Company|
|---|---|---|---|---|---|---|---|---|
||||||2021<br>f.|2020f|2021<br>F|2020<br>E|
|Other loans (note 20)|||||79,220|79,220|79,220|79,220|
|Trade creditors|||||494,485|356,517|435,285|326,662|
|Other taxation and|social||security||170,842|218,090|171,133|220,136|
|Obligations<br>under finance|||lease and hire||||||
|purchase<br>contracts|||||8,041|15,196|||
|Other creditors|||||32,953|48,009|32,375|41,379|
|Accruals and deferred||income|||3,208,722|4,384,836|3,027,008|4,079,309|
||||||3,994,263|5,101,868|3,745,021|4,746,706|
||||||Group|Group|Company|Company|
||||||2021|2020|2021|2020|
||||||f.|F||E|
|Deferred income|||||||||
|Deferred income brought|||forward||3,301,196|3,108,354|3,062,016|2,930,731|
|Resources deferred|during the year||||1,825,022|2,977,386||2,738,206|
|Amounts<br>released|from previous|||periods|(2,474,997)|(2,784,544)||(2,606,921)|
|Deferred income at||31 March 2020|||2,651,221|3,301,196|3,062,016|3,062,016|





## 

## 

## 

## 

||||Group|Group|Company|Company|
|---|---|---|---|---|---|---|
||||2021<br>E|2020|2021|2020f|
|Other loans|||3,225,230|298,334|3,225,230|298,334|
|Net obligations||under finance lease and hire|||||
|purchase|contracts|||7,977|||
||||3,225,230|306,311|3,225,230|298,334|





## 

## 

## 

## 

|||||||||Balance at|
|---|---|---|---|---|---|---|---|---|
||||Balance at 1|||Transfers|Gains/|31 March|
||||April 2020<br>F|Income<br>f|Expenditure|in/out<br>E|(Losses)|2021|
|Unrestricted|||||||||
|funds|||||||||
|Designated|||||||||
|funds|||||||||
|Capital projects|||573,448|||925,220||1,498,668|
|Fixed asset||fund||||1,066,695||1,066,695|
|Financial|||||||||
|security fund||||||500,000||500,000|
||||573,448|||2,491,915||3,065,363|
|General funds|||||||||
|General funds|||1,711,921|11,191,037|(8,886,144)|(1,717,355)||2,299,459|
|Unallocated|||||||||
|amounts||||5,601||||5,601|
||||1,711,921|11,196,638|(8,886,144)|(1,717,355)||2,305,060|
|Total|||||||||
|Unrestricted|||||||||
|funds|||2,285,369|11,196,638|(8,886,144)|774,560||5,370,423|
|Endowment|||||||||
|funds|||||||||
|Endowment||fund|6,034,312|161,378|(38,672)|160,076|1,032,429|7,349,523|
|Restricted|||||||||
|funds|||||||||
|Forestage|Lift||615,030|||(9,520)||605,510|
|Capital project|||492,902|754,959||(925,116)||322,745|
|Garfield Weston||||875,000||||875,000|
|CoMusica-|||||||||
|National|||||||||
|Foundation||for|||||||
|Youth Music||||92,860|(92,860)||||
|David Goldman|||||||||
|awards||||3,654|(3,654)||||





## 

## 

## 

||||||||Balance at|
|---|---|---|---|---|---|---|---|
|||Balance at 1|||Transfers|Gains/|31 INarch|
|||April 2020|income|Expenditure|in/out|(Losses)|2021|
|||f.|E|E||E||
|Community||||||||
|Music Sparks|||178,289|(178,289)||||
|CoMusica-||||||||
|National||||||||
|Foundation|for|||||||
|Youth Music|||189,771|(189,771)||||
|Individual||||||||
|donations|||18,279|(18,279)||||
|Principal||||||||
|partners|||26,713|(26,713)||||
|||1,107,932|2,139,525|(509,566)|(934,636)||1,803,255|
|Total offunds||9,427,613|13,497,541|(9,434,3&2)||1,032,429|14,523,201|





## 

## 

## 

|||||||||||Balance at|
|---|---|---|---|---|---|---|---|---|---|---|
||||Balance at|||||Transfers|Gains/|31 March|
||||1 April|2019<br>E|Income|Expenditure|f|in/out|(Losses)<br>f|2020|
|Unrestricted|||||||||||
|funds|||||||||||
|Designated|||||||||||
|funds|||||||||||
|Capital projects||||||||573,448||573,448|
|General funds|||||||||||
|General funds|||1,169,918||13,825,502|(13,875,255)||591,756||1,711,921|
|Total|||||||||||
|Unrestricted|||||||||||
|funds|||1,169,918||13,825,502|(13,875,255)||1,165,204||2,285,369|
|Endowment|||||||||||
|funds|||||||||||
|Endowment||fund|6,569,686||261,756|(42,964)||(261,756)|(492,410)|6,034,312|
|Restricted|||||||||||
|funds|||||||||||
|Forestage|Lift||633,650|||(18,620)||||615,030|
|Capital project|||330,000||1,081,795|(15,445)||(903,448)||492,902|
|In Harmony|||||282,172|(282,172)|||||
|Centre for|||||||||||
|Advanced|||||||||||
|Training|||||187,424|(187,424)|||||
|David Goldman|||||||||||
|awards|||||29,450|(29,450)|||||
|Community|||||||||||
|Music Sparks|||||19,806|(19,806)|||||
|CoMusica-|||||||||||
|National|||||||||||
|Foundation||for|||||||||
|Youth Music|||||156,493|(156,493)|||||
|Individual|||||||||||
|donations|||||11,096|(11,096)|||||
|Principal|||||||||||
|partners|||||26,463|(26,463)|||||





## 

## 

## 

## 

|Statement offun|ds - prior year|(continued)|||||
|---|---|---|---|---|---|---|
|||||||Balance at|
||Balance at|||Transfers|Gains/|31 March|
||1 April 2019|Income|Expenditure|in/out|(Losses)|2020|
||E||||F||
|0 Kavil OG Knut||52,671|(52,671)||||
|PRSFTalent|||||||
|Development||23,500|(23,500)||||
||963,650|1,870,870|(823,140)|(903,448)||1,107,932|
|Total offunds|8703,254|15,958,128|(14,741,359)||(492,410)|9,427,613|





## 

## 

## 

|Analysis|ofnet assets between funds -|current year||||
|---|---|---|---|---|---|
|||Unrestricted|Restricted|Endowment|Total|
|||funds|funds|funds|funds|
|||2021f|2021<br>F|2021<br>E|2021<br>E|
|Tangible|fixed assets|2,565,363|605,510||3,170,873|
|Intangible|fixed assets|370|||370|
|Fixed asset investments||||7,349,523|7,349,523|
|Current assets||10,024,183|1,197,745||11,221,928|
|Creditors|due within one year|(3,994,263)|||(3,994,263)|
|Creditors|due in more than one year|(3,225,230)|||(3,225,230)|
|Total||5,370,423|1,803,255|7,349,523|14,523,201|



|||Unrestricted|Restricted|Endowment|Total|
|---|---|---|---|---|---|
|||funds|funds|funds|funds|
|||2020|2020|2020|2020|
||||E||F|
|Tangible|fixed assets|1,730,332|615,030||2,345,362|
|Intangible|fixed assets|4,732|||4,732|
|Fixed asset investments||321,454||6,034,312|6,355,766|
|Current assets||5,192,102|937,830||6,129,932|
|Creditors|due within one year|(4,656,940)|(444,928)||(5,101,868)|
|Creditors|due in more than one year|(306,311)|||(306,311)|
|Ttl||2,285,369|1,107,932|6,034,312|9,427,613|





## 

## 

## 

|23.|Reconciliation<br>ofn|et movement|in fund|s to net cash flow from ope|rating<br>activities||
|---|---|---|---|---|---|---|
||||||Group|Group|
||||||2021|2020|
|||||||f.|
||Net income for the year (as per Statement|||of Financial Activities)|5,095,588|724,359|
||Adjustments<br>for:||||||
||Depreciation<br>and amortisation<br>charges||||291,138|281,393|
||Losses/(gains)<br>on investments||||(1,032,429)|492,410|
||Dividends,<br>interests|and rents from|investments||(175,546)|(272,430)|
||Loss on the sale of|fixed assets|||14,252||
||Decrease<br>in stocks||||10,535|23,559|
||Decrease<br>in debtors||||774,562|54,591|
||(Decrease)/increase|in creditors|||(1,100,449)|(253,975)|
||Decrease<br>in provisions|||||(50,785)|
||Net cash provided|by operating|activities||3,877,651|999,122|
|24.|Analysis ofcash and cash equivalents||||||



|||Group|Group|
|---|---|---|---|
|||2021|2020|
|Cash|in hand|9,650,367|3,773,274|
|Total|cash and cash equivalents|9,650,367|3,773,274|





## 

## 

## 

## 

## 

|||||||Other non-||
|---|---|---|---|---|---|---|---|
|||||At I April||cash|At 31 March|
|||||2020|Cash flows|changes|2021f|
|||||F||||
|Cash at bank and|in hand|||3,773,274|5,877,093||9,650,367|
|Debt due within I|year|||79,220|(73,104)|73,104|(79,220)|
|Debt due after I year||||298,334|3,000,000|(73,104)|(3,225,230)|
|Finance leases||||23,173|(15,132)||(8,041)|
|||||3,372,547|2,965,329||6,337,876|
|Capital commitments||||||||
|||||Group|Group|Company|Company|
|||||2021|2020|2021|2020|
|||||K||E|F|
|Contracted for but not provided|||in these|||||
|financial statements||||||||
|Acquisition<br>oftangible||fixed assets||656,000|912,000|656,000|912,000|



## 

## 

|At 31 March<br>2021 the group<br>and the company<br>had<br>comm<br>payments<br>under non-cancellable<br>operating<br>leases as follows:|itments<br>to make<br>future<br>minim|um<br>lease|
|---|---|---|
||Group|Group|
||2021|2020|
||F|F|
|Not later than I year|14,687|14,687|
|Later than I year and not later than 5years|23,702|39,394|
||38,389|54,081|





## 

## 

## 

##