Trustees Annual Report **April 2021 - March 2022** **Registered Address:** Ramsgate Youth Centre High Street, St Lawrence RAMSGATE Kent CT11 0QG Tel: 01843 596777 / 596998 Email: info@piefactorymusic.com www.piefactorymusic.com Registered Charity No. 1097561 Company Limited by Guarantee No. 4602033 ## **Trustees to the Charity** |**Trustees to the Charity**||| |---|---|---| |John Lane|:|appointed 10thNovember 2015| |Sallyann Harris|:|appointed 9thJune 2011| |||resigned 14th September 2021| |John Barrett|:|appointed 23rdApril 2019| |||appointed as Vice Chair 14thMay 2019| |Sarah Cant|:|appointed 23rdApril 2019| |Beth Clayton|:|appointed 23rdApril 2019| |||resigned 15th September 2022| |Mike Fagg|:|appointed 24thApril 2019| |||appointed as Chair 14thMay 2019| |Katie Ansell|:|appointed 2nd February 2020| |Elijah Akinfenwa|:|appointed 7th February 2020| |||resigned 21st June 2021| |Aniq Ismat|:|appointed 7th February 2020| |**Treasurer**||| |John Barrett|:|appointed 10thJune 2019| |**Company Secretary**||| |Caroline O’Reilly|:|appointed 27thNovember 2002| ## **Senior Management Team** |Steph Dickinson|:|Managing Director| |---|---|---| |Caroline O’Reilly|:|Finance & Operations Manager| |Zoe Carassik-Lord|:|Programme Manager (Music & Creative Arts)| |Luis Dawber|:|Programme Manager (Youth Work)| 2 ## **Pie Factory Music** ## **Trustees Annual Report : April 2021 - March 2022** ## **Structure, Governance & Management** Pie Factory Music is a charitable company limited by guarantee, incorporated 27th November 2002 and registered as a charity on 16th May 2003. The company was established under a memorandum of association which established the objects and powers of the charitable company and is governed under its articles of association. All Trustees give their time voluntarily and receive no benefits from the charity for this role. The Board of Trustees review the aims, objectives and activities of the charity each year. This report looks at what the charity has achieved and the outcomes of its work over the past 12 months. The Board of Trustees report the success of each key activity and the benefits the charity has brought to the young people it was set up to help. The review also helps the Board of Trustees ensure the charity’s aims, objectives and activities remain focused on its stated purposes. The Board of Trustees and Senior Management Team met on a quarterly basis to discuss matters arising, agree policy updates and complete tasks related to governance such as scrutinising financial and operational reports and updating the organisational risk register. As well as full Board meetings, the Trustees and Senior Management Team worked in three subgroups, helping to move the charity forward and keep focus on specific areas: Finance and Governance, People and Fundraising. This way of working together provides a robust and tangible implementation of our governance structure, improving the efficacy of a cohesive leadership team. ## **Covid-19** Along with the rest of the country, PFM experienced the full effects of Covid-19 and the respective levels of lockdown throughout 2021 and the beginning of 2022. During lockdowns PFM used working virtually to provide constant support and sessions for young people across East Kent. Operational practices were widened to facilitate this move to remote digital youth work practice, and a number of policies and procedures were reviewed and rewritten to ensure that the charity, staff and young people were protected and considered to the fullest extent. This included writing a new policy on Social Media. ## **Objectives and Activities** Pie Factory Music is an East Kent organisation that aims to enrich the lives of young people and enable change through creativity, openness and leadership. PFM’s year round work is focused on supporting children, young people and their families in the most deprived and disadvantaged wards in Ramsgate and Dover. Our aims and objectives are to: - **Reduce barriers to participation** by creating an environment and space for learning that is safe and unintimidating - **Increase social inclusion** by promoting positive views of young people and their role in the community 3 - **Increase social responsibility** by encouraging young people to understand their social responsibilities as part of the communities they live in - **Encourage creativity** by facilitating young people's exploration of music-making in its widest sense, encouraging experimentation and the pushing of boundaries, facilitating the creation of new and original styles of music and lyric writing, promoting positivity and discouraging glorification of social degradation and violence - I **ncrease employability** by providing the skills, qualifications and knowledge needed for young people to be considered for further education and/or employment In the last year, the activities programmed by PFM have been streamlined into four main programme streams: Youth Work, Music & Creative Arts, Pastoral Support and Workforce Development. Organising the programme into these four areas has provided the opportunity for staff to work in structured teams, resulting in the recruitment of a Youth Work Programme Manager and an Operations Administrator. ## **Youth Work Programme** This has been a challenging year in regards to youth work, however we have seen incredible resilience from our team and from the young people in adhering to pandemic-related restrictions and finding ways through the challenges. ## **Youth Club Sessions** **A.C.T!** – our youth-led community social action group scoped the coast for worthy causes to highlight and extend a helping hand. They delivered care packages to young people at home, held a Big Sleep Out for Thanet Shelter and an in-person summer fun day for local families raising £300 for the MPS Society, and made and delivered Christmas cards to seniors in care homes. **Detached -** this is a youth work approach where we engage with young people where they choose to meet e.g. town centres, outside of centre-based activities. Our detached youth work offer continued throughout the year to ensure that we were supporting those young people negatively affected by C-19. This was one of our most successful years for detached youth work with relationships deepening with young people and partnership working across East Kent. **Bike project -** the bike project proved to be a popular and useful project that was able to continue for most of the year due to its 1:1 / small group nature. We also saw a number of young people moving from this project into other projects. ## **Residentials and Trips: A Summer of Fun and Opportunity** We celebrated the return of in-person sessions and events with DJing, looping, animation and graffiti workshops produced with our partners Arts Education Exchange, cinema trips, youth centre activities and a trip away for some to the Arete outdoor education centre. This gave young people the chance to throw themselves into daring challenges and the revivingly cold water of the Welsh coast. 4 ## **Wider community Work** PFM continues to be an integral part of the strategic planning of children and young people services in Thanet. We sit on a number of strategic boards, including the Children’s Trust Board and Thanet Community Safety Partnership. These look at multi-agency approaches to reducing targets such as crime, anti-social behaviour, rubbish, health issues, etc. ## **Music & Creative Arts Programme** Music is a superb tool for motivation, inclusion, health and play. PFM uses this tool effectively through a broad range of free music focused activities, including fun days, taster days, workshops, weekly programme, events, dvd and video creation, animations, lyric and song writing, performances and audio recordings. This work consistently raises levels of self-worth and confidence. For those young people who want to take their experience with us further, PFM works with youth and statutory organisations to provide educational and vocational pathways. Across 2021-22, a total of 144 young people accessed Music and Creative Arts through a wide range of services and programmes, including Emerging Artists, Girls Programme, Studio Sessions, Band Factory, Recording sessions and funding one to ones. In total, 152 sessions were delivered by creative practitioners. ## **Emerging Artists** Notable activities included: - Live-streamed gig (Revival), May 2021 - Record label project with Moshi Moshi Records, June 2021 - Recording session for Malpractice - Launch of Wantsum Music? record label and launch party at Tom Thumb Theatre, December 2021 Plans going forward include the Wantsum Music? collective curated Busk at Dusk Stage at Ramsgate Festival of Sound opening event in August 2022, and the second single release for Wantsum Music? by artists Debdepan in September 2022. ## **Girls Programme** The Girls Progamme was created to support female and non-binary young people who felt unable to join our wider music programme. It came off of the back of the lack of applications we had from female and non-binary young people for the Emerging Artists Programme. Notable activities included: - One in-person gig as part of Art31 Youth Takeover Festival at the Gulbenkian Theatre, June 2021 - Francesca Ter-Berg songwriting project, June-July 2021 - Palm Bay Music recording project, August 2021 - Performance opportunities for young people as soloists at Ramsgate Festival of Sound and Rosslyn Court, August 2021 - Collaboration with sound artist Shireen Qureshi for exhibition on Ramsgate Bandstand as part of Ramsgate Festival of Sound, August 2021 5 - Trips to local venues, Tom Thumb Theatre and Elsewhere. - ‘Raise our Voices’ live music event at Ramsgate Music Hall as part of POW Festival, March 2022 Plans going forward include the performance of original composition at Battle of the Bands event as part of GENFest – ART31 at Gulbenkian in July 2022; individual mentoring from Kimberley Anne (Palm Bay Music), drummer Jax Titmus, and poet and performer Brigitte Aphrodite; and small residencies for individual members at Screaming Alley (Ramsgate-based cabaret), 101 Social Club Open Mic Night, Hutstock Festival in Whitstable, and sound engineering at Rosslyn Court and Tom Thumb Theatre. Our open-access studio and band room sessions moved between online and face-to-face sessions as restrictions allowed and were some of the highest attended sessions of the year. ## **Pastoral Care Programme** ## **Soundcheck Counselling** - 50 individual young people were referred into our newly established counselling services - 83 counselling sessions were attended - 12 individual young people finished a counselling course with us and feel they no longer need counselling Our counselling provision is expanding in order to meet an increasing demand. Young people are initially offered 6 counselling sessions and, between them and their counsellor, the sessions may continue. On average, we're seeing young people attend between 12 and 18 sessions ## **Creative Interventions** Individual Young people Referred: 10 Total sessions : 60 Our Creative Intervention service has proved to be very successful in the development of young people. We were able to support 10 young people with Creative Interventions including a variety of activities from music to bike maintenance. One of the young people who was partaking in a Creative Intervention with us has built up their confidence and has now moved into our Live Room sessions and is working alongside other young people in making music together. This young person also won a Try-Angle Award for their progress in creativity. ## **Food Bank** The food bank has continued to be an essential part of our pastoral support for not only the young people and their families that attend our programmes, but also the wider community in the Thanet area. With over 21 boxes given out feeding 44 people, we have been able to look at how we can develop this service for the future. 6 ## **Care Packs** In the summer, we gave over 270 food and uniform vouchers for those with a low income in the Thanet and Dover districts so that they could enjoy eating out and stave off rising costs ahead of the new school year. ## **Workforce Development** In terms of our workforce, this year has been about acknowledging the challenges of the pandemic and consolidating our learning about wellbeing to support our team’s ongoing recovery as best we can. We have worked hard to establish wellbeing as a core value of our organisation and the following milestones show our progress towards this. ## Milestones - Formalised Wellbeing Policy - Continued to allocate specific budget to staff wellbeing - Secured Youth Music Recharge funding for the next 2 years which enables: - Counselling and physical therapies for staff - Personal wellbeing budget for staff - Staff socials - Refreshments for team lunches - Investors in Wellbeing accreditation - Mental Health First Aid Champion training - Included the following outcomes in our organisational evaluation framework, enabling us to better monitor our Workforce Development - _**Workforce:** To increase staff wellbeing and work satisfaction_ - _**Sector:** To improve the sector’s connectedness and collaboration_ - Delivered a presentation at the Sound Connections Inclusive Practice in Action conference, Wellbeing for All. - Continued to facilitate the Thanet Youth Network and secured Arts Investment Fund support to offer training and development opportunities to the wider sector. - Offered our team a Wellbeing Week - As well as our mandatory training we have also offered our staff specialist training in: - Anti-racism - Gender identity and supporting transgender young people - Understanding Trauma ## **Marketing & Communications** PFMs communications continued to grow and develop in 2021-22. Working with Communications Consultant BeeBee Communications, a number of campaigns and initiatives were undertaken to advance the charity’s marketing, both internally and externally. These included the launch of the Wantsum Music? youth record label, Soundcheck fundraiser round two which raised £1500, a brand, values and mission review team workshop and Pie20 communications workshop for 2022-23 planning, and the development of the Slice of Pie podcast. 7 Alongside this, all areas of PFM’s comms were developed including more regular and targeted e- newsletters, website updates, press, content planning and reporting, as well as the mentoring of PFM’s Content Producer, the Communications Volunteer from Canterbury College and Emerging Artists to provide skills development. We focussed on enhancing and increasing our messaging around PFM’s wide range of work, particularly pastoral and wellbeing, as well communicating the voices of young people and opportunities for them to be heard. The **Content Producer** continues to work with BeeBee Communications, with weekly catch up sessions. They create exceptional designs for PFM’s social media and are gaining greater confidence in copywriting, assisting in the writing and scheduling of social media posts. They have now been trained in updating Pie Factory Music’s website and are currently working on creating a dedicated page for the Girls Programme to showcase this important stream of work and the success of the participants and practise what they’ve learnt. A **volunteer** from Canterbury College Media and Journalism course joined us for 6 months from autumn 2021 - spring 2022. As an aspiring music journalist, BeeBee Communications focused on training them in writing press releases, assisting in the Wantsum Music? label launch and first single release press releases and writing a review of the launch gig. ## **Podcast** In spring 2021-22 PFM started recording a series of podcast episodes planned, led and created by young people, working with Podcast Producer Buddy Peace at Ramsgate Radio. The group have worked collaboratively on the ideas, planning and marketing ready for launch in autumn 2022, to coincide with the Pie20 party. The podcast will be streamed across all platforms and we’ll be engaging local and regional press. ## **Wantsum Music?** We successfully launched social media channels for PFM’s youth record label Wantsum Music? (WM?) and delivered comms campaigns to support the launch of the label gig, first single release and partner event with Tonetic Records, including press, e-news, web, blog stories, insta stories and videos. Working closely with the Emerging Artists, BeeBee Communications has mentored the group in marketing their label and has worked collaboratively with them on all aspects, alongside advice from Simon at City Slang Records. WM? featured on BBC Radio Kent, Academy FM, in the Isle of Thanet News, Ramsgate Recorder (p.41) and Cene Magazine. ## **Finance Review** We continued to work under KCC commissions for Dover and Thanet for our youth provision following an extension after the original 5-year commission ended. This extension will carry us through to the end of March 2023 and has enabled us to continue providing essential youth work during these difficult and trying times through Covid-19 and increases in the cost of living. We have had a successful year of securing further funding to enhance our youth work programme and expand our music and creative arts programme, as well as continuing to fulfil existing contracts, which we recognised are set to increase in the coming year rather than decrease. 8 A further fundraising campaign this year enabled us to build on our focus on supporting those young people who have been severely struggling through the ongoing effects of the pandemic and lockdown by offering further 1:1 sessions, creative interventions, the bike project and specialised counselling. Our key funding streams are listed below: - **Kent County Council, Thanet** : Extension to a 5-year commission for the youth provision for the district of Thanet, in partnership with The Zone, Broadstairs. Restricted to youth provision for 8-19 years (up to 25 with disabilities). - **Kent County Council, Dover** : Extension to a 5-year commission for the youth provision for the district of Dover. Restricted to youth provision for 8-19 years (up to 25 with disabilities). - **Youth Music Fund B** : Grant awarded for a 27-month project to build a network supporting progression for young people in Thanet and Dover, connecting them to highly skilled practitioners, industry experts, organisation and music business, and enabling them to take the lead in their own musical journeys. - **Paul Hamlyn Foundation** : 3-year grant awarded for the organisational development of Pie Factory Music. - **Creative Kickstart Internship** : Government funding for a 6-month Trainee Youth Worker position, in conjunction with Creative & Cultural Skills and Department of Work & Pensions. - **Creative Estuary Internship** : Funding for a 17-month contract for a new role of Programme Assistant (Music & Creative Arts) to support the delivery of our Emerging Artists programme. - **COMF** : Government funding via Kent County Council to facilitate the provision of counselling, pastoral support and 1:1 creative sessions for young people who have been impacted by Covid-19, including the purchase of session-specific equipment and recruitment of a delivery team. - **Reconnect Thanet:** Government initiative to provide support for families and summer activities for young people of Thanet, including food and school uniform vouchers, activities and trips. - **Reconnect Dover:** Government initiative to provide support for families and summer activities for young people of Dover, including food and school uniform vouchers, activities and trips. - **Arts Investment Fund:** Funding via Kent County Council to facilitate the Thanet Youth Network, a network of organisations looking to support each other, share practice and develop collaborative plans for the benefit of young people in Thanet. - **Ramsgate Fund:** A grant to support young people from Ramsgate with activities to improve mental health and wellbeing, such as 1:1 sessions and counselling. - **Kent Community Foundation:** Grant to deliver a series of creative consultation workshops in partnership with Future Foundry, facilitated by young artists who have grown up in Dover, to empower young people to think about the district and what arts and cultural opportunities they’d like to see there. The grant is part of the Better Lives through Culture: East Kent project. 9 - **Dover District Council:** Grant to support work addressing regeneration through culture, harnessing children and young people’s voices to help shape a coherent Dover creative vision, build a Dover-specific Cultural Education Partnership and build on existing highquality arts provision to develop a vibrant and coordinated group of committed stakeholders. The grant is part of the Better Lives through Culture: East Kent project. - **POW! Thanet #iwill** : A project of sessions and a final event with young people with the aim of developing their social action skills. - **Violence Reduction Unit** : Grant awarded to offer bespoke 1:1 sessions through bike maintenance for high-risk young people in need of extra support. - **Soundcheck Crowdfunder** : A self-initiated crowdfunding campaign to raise money in response to the increased need evidenced in the young people we work with of reduced mental well-being due to the effects of lockdown and the pandemic, enabling PFM to offer counselling and 1:1 sessions free of charge. - **Donations** : Gift Aid and support for the Soundcheck Crowdfunder to be used against costs involved in providing counselling services and 1:1 sessions for young people. Any monies in the independently examined financial statements showing as a surplus are due to awarded funds and grants restricted for specific workshops and/or in addition to PFM’s Reserves Policy and are therefore not profit. Any monies made during the course of the financial year from invoiced-for projects, studio income, equipment and venue hire are invested back into the programme of events, core costs, repairs and maintenance. ## **Reserves Policy** ## **Introduction** Pie Factory Music operates a Reserves Policy which is a designated figure for the sole purpose of supporting essential staff and building operations in the event of unforeseen difficulties. The monies for the Reserves Policy have been built up since 2002 from surplus income and are not grant funded or restricted. ## **Current Policy** A formal policy on reserves was agreed at the Directors meeting held on 9[th] May 2006 and is reviewed annually. It states: The Trustees have set a reserves policy that requires: - reserves be maintained at a level which ensures that Pie Factory Music organisation’s core activity could continue during a period of unforeseen difficulty; - a proportion of reserves are maintained in a readily realisable form. ## **Risk Management** The Trustees confirm that the major risks to which the charity is exposed, as identified by the Trustees and Senior Management Team, have been reviewed and systems have been established to manage those risks, including financial provision. 10 ## **Organisational Commitments** The level of the Reserves Policy will ensure that the Senior Management Team will continue to be employed for a period of three months in order for those staff members to source funding to resume the organisation's activities. The level of the Reserves Policy will also cover the core operational costs for three months, to ensure that Pie Factory Music’s headquarters are maintained whilst further funding is being sourced. The Reserves Policy is also there in circumstances where the organisation may need to cease to trade to meet outstanding liabilities, including redundancies. ## **Current Reserves Level** The Trustees have agreed the level of £90,000 being suitable to mitigate against these risks. Reserves of £90,000 are set in place. Should the necessity arise, strategies to increase the level of reserves are in place and are outlined in the Management Risk Assessment. The Reserve Policy will be reviewed annually to ensure that it is a true reflection of the level of commitment to ensure that Pie Factory Music will be able to maintain its core activities in the event of any unforeseen difficulties. ## **Plans for the Future** Pie Factory Music will continue: - to assess the risks and manage those risks to the best of its abilities - to source funding that permits full cost recovery - to continue running and co-ordinating the youth service provision from Ramsgate Youth Centre until such time as the commission for that service has come to an end - to continue running and co-ordinating the youth service provision for Dover until such time as the commission for that service has come to an end - to explore alternative premises options should the commissioned youth services be changed - to use different media channels to keep stakeholders informed of the workshop programme and youth centre provision - to maintain an up to date website - to maintain an up to date presence on social media, e.g. twitter, facebook, instagram - to explore other avenues of income generation including sponsorship - to expand on establishing itself across East Kent and to research & source further options in a bid to aid the sustainability of the charity - to further develop and strengthen existing partnerships across East Kent The new financial year will see a strong emphasis on publicity and social media to raise awareness of Pie Factory Music and the new undertakings for 2022/23 in general, with a focus on the development and embedding of our provision across the board, as well as the introduction of a new role, Operations Manager, as part of the streamlining process start this year. 11 PFM will look at expanding the income streams to incorporate and embed more music and creative arts activities, in line with our mission statement. ## **Conclusion** Pie Factory Music has had a successful year of workshop attendances and project outcomes and continues to make strides towards becoming sustainable for the future in this unsettled economic climate, exploring various income generating options, thus fulfilling an original funding stipulation as set out by Youth Music. PFM is dedicated to explore and examine possible options for the sustainability and the continuation of the programme and to progress and promote the charity to its fullest potential whilst continuing to support as many young people across East Kent as possible. With continued support from the Board of Trustees, the local Council and community members, Pie Factory Music will continue its growth and expansion in and across East Kent. ## **Structure, Governance & Management** ## **1. Governing Document** The organisation is a company limited by guarantee (registered 27th November 2002) with charitable status (registered 16th May 2003). The company was established under a Memorandum of Association which established the objects and powers of the charitable company and is governed under its Articles of Association. In the event of the company being wound up Trustees are required to contribute an amount not exceeding £1. ## **2. Recruitment & Appointment of Management Committee** The directors of the company are also charity trustees for the purposes of charity law and under the company’s Articles are known as members of the Management Committee. ## **3. Risk Management** The management committee has conducted a review of the major risks to which the charity is exposed. A risk register has been established and is updated at least annually. Where appropriate, systems or procedures have been established to mitigate the risks the charity faces. Internal control risks are minimised by the implementation of procedures for authorisation of all transactions and projects. Procedures are in place to ensure compliance with health and safety of staff, volunteers, clients and visitors to the centre and programme of workshops. ## **Responsibilities of the Management Committee** Company law requires the Management Committee to prepare financial statements for each financial year which give a true and fair view of the state of the affairs of the charitable company as at the balance sheet date and of its incoming resources and application of resources, including income and expenditure, for the financial year. In preparing those financial statements, the Management Committee should follow best practice and: - select suitable accounting policies and then apply them consistently; 12 - make judgements and estimates that are reasonable and prudent; - prepare the financial statements on the going concern basis unless it is not appropriate to assume that the company will continue on that basis. The Management Committee is responsible for maintaining proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and to enable them to ensure that the financial statements comply with the Companies Act 1985. The Management Committee is 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. ## **Members of the Management Committee** Members of the management committee, who are directors for the purpose of company law and trustees for the purpose of charity law, who served during the year and up to the date of this report are set out on page 2. In accordance with company law, as the company’s directors, we certify that: - so far as we are aware, there is no relevant audit information of which the company’s auditors are unaware; and - as the directors of the company we have taken all the steps that we ought to have taken in order to make ourselves aware of any relevant audit information and to establish that the charity’s auditors are aware of that information. Approved by the Management Committee on 1st February 2023 and signed on its behalf by: 13 COMPANY REGISTRATION NUMBER: 04602033 CHARrrY REGISTRATION NUMBER: 1097561 Ple Factory Music Company Llmited by Guarantee Unaudited Financial Statements 5 Aprll 2022 LEVICKS Chartered accountsnts Station Gates 3 Lloyd Road BROADSTAIRS Kent CT10 1HY Pie Factory Music Company Limited by Guarantee Flnancial Ststements Year ended 5 Aprfl 2022 Page Trustees, annual report (incorporating the directorfs rewrt) Independent examinerfs report to the trustees Staternent of financial activities (including in(2)me and expenditure account) Statement of financial position Notes to the financial statements Tho following pago5 do not forni part of the financlal statoments Detailed statement of financial activities 14 Notes to the detailed statement of finanaal activities 15 Pie Factory Music Company Limited by Guarantee Trustees. Annual Report (Incorporating the Directorfs Report) Year ended 5 Aprfl 2022 Pago 1 The trustees. who are also the directors for the wrposes of company law, wesenl their report and the unaudited financial statements of ltte chanty for the year erKled 5 April 2022. R•fgrence and admlnlstratlve details Rogist•rod charlty name 'e Factory Music Charlty regl8tratlon number 1097561 Company reglslratlon number 04602033 Prlnclpal office and r•glstered Ramsgale Youth Centre ¢)fflc• High Street Sl LaW￿nCe Ramsgale CT11 OQG Kenl Thg tru8t•a• Mr M Fagg Ms S Harris Mr J Lane Mr J Barrett Ms S Cant MS B Clayton Ms A Ismal Ms K Ansell Mr E Akinfenwa (Resigned 14 Sèptember 2021 } (Resigned 15 September 2022) (Resh3ned 21 June 20211 Company 8ècr•tary Mrs C O'Reil Ind•pendènt examlner T Pearcy FCCA Sialion Gates 3 Lloyd Road BROADSTAIRS Kent Gr10 1HY Pie Factory Musi Company Limitod by Guarantee Trusto•s' Annual Report (Incorporatlng the Directorfs Report) {¢onNnu•4 Year ended 5 April 2022 Page 2 Small Company provlsions This report has been prepar￿ In aw)rdanc8 with Ih? provI￿n¥ apkqicable to companlas enlthd to the small c£Ympanies exemptk?n. The tru51ees' ann1J￿ f8pryt was approved on Irusl8es by: . arml Signfyd on behall of Ihe board of Mr M Fagg Truslee Pag• 3 Ple Factory Music Company Llmlted by Guarantee Independent Examinerfs Report to the Trustees of Pie Factory PAusi¢ Year ondod 5 Aprll 2022 I remyt to the trustee5 on my examination of the fina￿1￿ strt￿￿ts of Ple Faclory Muslc (Yhe ¢harW) for the year ended 5 AWN 2022. R•8pon¥lblllllM and ba•1¥ of r•port As the Iruslees of the company (and also its directors for the purp¢)ses of company law) you are respJn51ble for the preparalknn of the finaKial Stalefflents in accAirdanc8 requirnments of the compan￿ Act 2006 (Ihe 2006 A¢t'). Havlng satlsfoed myseN thal Ihe aejxwnls of the company are not required to b8 audlted under Part 16 of the 2006 Act and are eliglbb fix Independent examination, I rep)rt in respect of my examination of the chadty's accounts as ¢arrW LMJI under sectKfft 145 of the Charibes Act 2011 1.the 2011 Act.). In carrying out my examinatk)n I have follow￿ the Dlrect*)ns given by the Charity Commls5ion under 8ecUon 145(5Xb) of the 2011 Act. Ind•p•nd•nt •xamln•Vs •tal•m•nt Slnce ch¥lty'8 gross Income exceeded £250.000 y(xff examlnor must bo a membor of a body Ilsted In $e¢tlon 145 of the 2011 Aca. l ￿nfIrM that l am qualif￿d to undert8kg the examlnatlon t￿aUSe l am a m6mber of tho AssociatK￿ of Chwtered Cwtified Actountants, whkh 1$ on8 of the Ilsled th)dle$. I have Completed my examlnolh)n. l Ih8t no matters have come to my attention in connectbn wlth the 8xamlnatlon glwng me ￿￿se to bollove: accounting recwds ￿re not kepl in respect of tho a8 r8qulred by s￿10n 386 of the K16 Act.. or the financyal 8tatsmènts not acoxd with those fO¢￿d8' fx the 16nanLial statements do Mt compty with th8 a(XX￿￿1In9 requlrements of Sertlon 396 of the 2006 Act other than any requirement that th8 accounts gfve a 'true arKI fay vlthv whkh Is not a matter considered as part of an irtyendent examination., or the financlal s18temenls have Mt been prep￿ In acc4xdanc8 wlth the m8lhod$ and prI￿pIeS of the St8lemenl of Re￿thM￿nded Prackn for amnling and reporting by char￿1¢$ appltabie to charities prepariro Iheir accounts in ace£￿darte wlth the FIna￿ls1 Rep)rtlng Standwd apF4l¢abl6 in the UK and Republlc of Ireland {FRS 102). I have no concerns arNI have c(xne across rK• oll*r matters in connection wlih the examination to which att on should be drawn In Ihls rewl in ordw to enabkn a proper understandirMJ of the accounts TPea Ind8pendent Exomlnoron ,12F23 Ststion Gale8 3 Lbyd Road Broa¢J8tair8 Kent CT10 IHY Page 4 Ple Factory Muslc Company Lirnited by Guarantee Statement of Flnancial Activlties (including income and expenditure account) Yaar ended 5 Aprfl 2022 2022 Restricted funds Total funds TO1￿ fijnds 2021 un￿trIcted funds Income and •ndowm•nts Donations and legacles Investment income 9.958 493.362 503,320 372,448 25 Tolal income 9.966 493,362 503,328 372,471 Expondltur• Expenditure on charitable activities Total exp•ndlturo 9.387 2.970 362,357 239.463 9,387 352,970 362.357 239,463 Net In¢omo 579 140.392 140,971 133,008 Other r•cognised galns and loss Other gainsll10s5esl user defined 1 Not movement in fund8 8,060 8.639 18.060} 132.332 140,971 133,008 Reconclllallon of funds Total funds broughi forward Total funds caffled forward 284,295 292.934 86,410 350,705 491,676 217,697 198,742 350,705 The statement of finanelal activities induées all gains and loss&s recognised in the y•8T. All Income and expenditure derive from contsnuing activities. The nots8 on pagos 6 to 12 forn) part of these finandal slateM￿. Ple Factory Muslc Company Limited by Guarantee Statement of Financial Posltlon 5 Aprll 2022 2022 2021 Nots Flxod a$$ets T8noit4e fixed assets 14 1,722 2.￿5 Curront 4s¥ets Debtors Cash al bank 8rKI in hand 15 42.220 454.538 42,998 309,611 496.758 352,609 Cr•dltor8.' amounts fallSng du• wlthin oft• y•ar Net curr•nt 48s•18 16 e.804 4,809 347,800 489,954 Total a8s•l$1•88 curr•nt Ilablllll•8 491,676 350,705 Funds ofth• ¢harfty Reslrlcied funds Unr851rlclgd funds 198,742 292,934 eo,410 284,295 Total charlty funds 17 491.676 350.705 For th¢ year endlng S April 2022 Ihe charity was enlrtied lo exempOon from ajdil ur#Jer sectbn 477 of the Companles Act 2006 relaiirvJ to 8mall companies. Dlreclorts, re$ponsiblli¥es: The membws have not requlred Ihe compary to obtaln an audit of Ils finaftclal slatem￿ts for Ih? year in questi￿ in ¥AYdance wilh 478: The directors acknowledge thelr re$ponsibilil*s for CCrfnp￿'n9 with th¢ requirements ol ihe Act wllh rosp￿t lo aixountsng rgcords and the prepara1￿ of fiftanc￿ stalem8nts. These flnanclal slatemenls have b&8n wepared in 8ecaYdarKo with the wovlsbny 8ppltable to companles subjecl lo the small cornpanies. reg#ne. se nan¢ral statements w•rg appyoved by ts board of tsv$lg95 arKI autlb)rlsed for bsue on and are stgned on ￿hall of th8 board by.. Mr agg Trustee The notes on pag• 6 to 12 f¢mi part tsfthese financial ststements. Page 6 Pie Factory Muslc Company Limited by Guarantee Notes to the Financial Statements Year ended 5 April 2022 General infomiation The charity Is a wblic benefit entity and a wivale company limited by guarantee, registered in England and Wales and a regislered ch&ity in England and Wales. The address of the registered office is Ramsgale Youlh Centre. HKJh Street. St Law￿nce, Ramsgate, CT11 OQG, Kent. Statement of complianc• 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 Rocommended Practs'ce ap￿leable to charlties preparing their accounts in accordance with the Flnan¢lal Reporting Standard applicable in the UK and Republic of Ireland (FRS 1021 IChaTilie$ SORP IFRS 10211 and the Companies Act 2006. Accountlng poli¢i•s Basls of pr¢paratlon The financial statements have been prepared on the historical cost basls, as modified by the revaluation of certain finano'al assets and liabililies and inve$tmenl propertles measured al fair value thro¢Jgh Incom• or expendilure. The financial slalemenis a￿ prepared in slerliw. which 1$ the fun¢tional currency of the enlty. Golng concern There are no material unc8rtainlie$ about the chariVs atxlity to ¢ontinue. Dl¥Glo8uro exomptlons The entity satisfies the ¢riteria of beiry a qualrfytng entity as defined in FRS 102. Judgoments and key Sour￿ of •8tlmatlon uncertalnty The preparation of the financial statements requires management to mak8 ludgemenls. eslimale5 and assumptions Ihal affect the amounts reported. These estimates and judgements are continually ￿V￿we￿ and are based on experience and other lactors, including expectations of fubjre events that are believed lo be reasonable under the urcum$lances. Fund accountlng ReStr￿ted funds are subjected lo restrictKins on their expenditure declared by the donor or through the term5 Qf an appeal, and fall into one of iwo sub-classes.. reslricled in￿rne funds or endowment funds. Induded within Ihe restrmxed fijnds is 8 uyanl from Youth Music. Page 7 Ple Factory Muslc Company Limited by Guarantee Notes to the Financial Statements (conthiwdl Year ended 5 Aprll 2022 A¢counting policles fconthu8d) Incomlng resources l incoming resources are inciuded in the stslement of financial aCtNit￿S whgn entrtfemgnt has passed to the charity., it is probable that the economic benefrts associated with the transaction wlll flow lo the charity and the amount can be reli4bty measured. The following swfic policios are applied lo particular Categ￿eS of income: income from donalions or grants is reccgni5ed when there is evidence of enlillement lo th8 gift, receipt is probable and ils amounl can be measured reliably. legacy income is recognixd when receipt is probable and enlillemenl is eslabllshed. income from donated goods is measured at the fair value of the wods unless this 15 impraclul lo Measu￿ reliably, in which ease the value is derived from the c051 to the donor or ihe estimated resale value. Donated facilities and services are recognised in the accounts when recetved rf the valuè can be reliably measured. No amounts are induded for the contrityjt'on of general volunteers. Income from contracts fty the sUp￿Y of services is recognised with the delivery of the Contrael￿ seNice. This is classjfied as unreslricled funds unless there is a conlraclual requirement for rt to be spent on a particular purpose and returned rf unspent, In which ¢a$e il may be regarded as iestrlcted. Re8ourco8 •xp•nd Expenditure is recognised on an accnjals basis as a liabilty is incurred. Expendllure includes any VAT which cannot be fully recovered, and is ClaSsrf￿ under headings of the statement of financial activities lo which it relates.. exFerKlilure on raising furKls Includes the c08ts of all fundralsln9 actrvities. events. non-¢haritable trading aclivits'es, and the sale of donated wods. expenditure on charltable aclivllies IrK4udes all costs Inwffed by a ¢harily in undertaking activities that further ils charitsble aims for the benefit of ils beneficiaries, induding those support costs and costs relating lo the governance of the charity appth'oned lo charitable adivrties. other expendiluTr indudes all expendlture that Is neNhef related lo raising funds for the charity nor pwt of ils expenditure on ch8ritatAe activitles. Al ¢os15 are allocated lo expendi￿re categories refflecting the use of the ￿￿r¢e. Direct ¢o$ts attributable lo a single acbvity are allocaled directly to Ihal activity. Shared costs are apportioned between the acINII￿S they conth"L¥Jte to on a reasonabk, justifiable and consislanl basis. Tanglble assets Tangible assets are initially recorded al cost, and subsequenlty slated at cost less any accumulated depreciation and impaimient losses. Any tangible assets carried at revalued amounts are ￿e0rded at the fair value al the date of revaluation less ary subsequent accumulated detyeciab.on and subsequent ac(yJmulaled impaimient losses. Ple Factory Muslc Company Limited by Guarantee Notes to the Financial Statements (contiftuod) Year ended 5 April 2022 Page 8 Accounting policies (condnwd) Tanglbl¢ assets fcontrnwd) An increase in the carrying amount of an asset as a result of a revalualion, is recognised in other recognised gains and losses, unless it revefses a Charge for impairment that has previously been r￿ognISed as expenditure within the statement of fina￿la1 aclwilh8s. A decrease in the carrying amount of an asset as a result of revaluation, Is recognised in other recognised gains and10sse5, except to which it offsets any WeV￿uS revaluallon gain. in which case the loss is shown wilhln other recognised gains and losses on the statement of fina￿jaI activttles. Depreclatlon Depreciation is calwlated so 85 to write off the cost or valuatk)n of an assel. less 115 r88idual value, over the useful economrc lrfe of that asset as follows: Equipment Computer Equlpmenl 25% on cost 2S% on Cost Impalrrnent of Ilx•d as#ots A review for indicators of impairment is carried out al each rewting dale. with the recoverable amount being estimated where such indicators exist. INhere the carrying value exceeds the recoverable amount, the as$el is impaired accordingly. Prior impairments are also reviewed for possi￿8 reversal al each reptytlng dale. For the purFoses of impairrnent testing, when it 1$ ml possible to esllmale the recoverable amounl of an individual asset, an estimate is made of the recoverable amount of the cash-generaling unil lo whrh the asset belongs. The cash-genoraling unil is the smallest identifiable group of assets that includes the asset and general&s cash Inflows that largely Independenl of the cash infiows trom other assets or groups of assets. Flnanclal In8trum•nts A financial asset or a financia liatxllty k8 recognised only when the enlty becomes a party lo the Contractual provisions of the inslrumenl. Baslc financial instruments aro initially recognised at the amount receivable or paabl8 Including any related transaction costs, unless the arraJwemenl constitutes a financing transaction, where il is recognised al the wesent value of the future payments drscounled at a markot rale of interest for a slmilar debt instnjment. Current assets and Current liabil11￿ arè subsequently measured al the cash or other conS￿eration expected to be paKI or rewved and not discounted. Limited by guarantee The charity is controlled by goveming document. a deed of Irusl, and con5tilulo5 a limited company, limited by guarantee. as defined by the Companies Act 2006. Pie Factory Music Company Limited by Guarantee Notes to the Flnancial Statements (conllnued) Year ended 5 April 2022 Pagè 9 Donatlons and legacio8 Unrestr￿ted Furmjs Restricted Total Funds Funds 2022 Donations Donations 9,708 1,246 10,954 Grants Grants re￿1vable 250 492,116 492,366 503,320 9,958 493,362 Unreslri¢ied Funds Reslrlcted Totsl Funds Funds 2021 Donatlon$ Donallons 2,￿2 7.295 10,197 Grants Grants receivable 264,928 97.321 362.249 267,830 104,616 372.446 Investm•nt income Unrestricted Total Funds Unrestricted Total Funds Furmjs 20T2 Funds 2021 Bank interest receivable 25 25 Expondituro on charltab10 a¢iivftlu. So9 note 8 for the breakd¢x¥n b•twe•n rn8tri¢tod and unr•strfct•d fvnds. Support Total funds costs 2022 Totsl fund 2021 Charitable Purposes Governance costs 359.719 2.638 359.719 2,638 237.427 2.036 239,483 362.357 362,357 Pie Factory Music Company Limitsd by Guarantee Notes to the Financlal Statements (conwmffjdj Year ended 5 April 2022 Pag& 10 Roslrlcled and uniastricted funds. Unrestricted Funds Restricted Total Funds Funds 2022 2022 Expenditijre on charitsble a¢tNities 9,387 352.970 362.357 Unrestricted Funds Reslricled Total Funds FurKJ5 2021 2021 ExpeTrdilure on charitable aclrvilie¥ 200,833 38.630 239.463 Analys53 ol activity Analysls of supwrt ￿)Sts a¢lNrty T￿al 2022 Total 2021 Staff costs Premises General office Project Depreciation 189.￿7 189.907 8,500 6,389 152.831 2,092 151.118 8,212 5,431 70.295 2.700 6,389 152,831 2.092 359.719 359,719 237,756 10, Not Incomo Nel Income 1$ slated after chargI￿(creditiru)'. 2022 2021 Depreclation of tangible fixed assets 2.092 2,700 11. Independont examlnatlon fe49 2022 2021 Fees payable lo the Independent examiner for.. Independent examination of the financial statements 2,304 1,860 12. Staff cost¥ The average head count of employees during the year was 18 {2021.. 16). The average number of full-time equwalenl employees during th8 year is anaysed as fc41ows'. 2022 No. 2021 No. Number ofsl8ff - Admin 18 16 No em￿oyee r￿1v￿ employee benefits of more than £60,000 during the year {2021'. Nil). Pagè 11 Pie Factory Muslc Company Lirnlted by Guarantee Notes to the Flnancial Statem•nts l¢onthK Year end•d 5 April 2022 13. Trustee rernunerallon and expens•s No remuneration other beneffts from emtdoymenl wth charity or a related ontty were rewved by the truste8S. 14. Tanglble flx•d as8•ts Fixtures and frttings Equipment Total Cost Al 6 April 2021 Addllicffls 88,352 23,386 111,738 g09 At 6 Aprll 2022 D•prn¢lation Ai 6 April 2021 Charge for the year Al S Aprll 2022 Carrylng amount At S Aprfl 2022 At 5 April 2021 88,352 24.295 112,847 86,905 1,147 21.928 108,833 2,092 110,925 88,052 22,873 1,422 1.458 1,722 2.WJ5 1,447 15. Debtors 2022 2021 Trade debtors Prepayments and accfuod income 39.488 2,732 42,220 40.231 2.767 42,998 16. Croditorn: Ydnounts fallin9 due wlthin one year 2022 2021 Tpde creditors Other creditors 1,652 5,152 8,804 818 3,991 4,809 Pie Factory Muslc Company Limited by Guarantee Notes to the Flnancial Statements (conth*d) Year ended 5 April 2022 Page 12 17. Analysls of ¢haritgble fund$ Unrestrlct•d funds Al 6 April 2021 Gains and At losses S April 2022 Iruime Expendrture General funds Designated Fund contingency reserve 284,295 (9.387) 8,060 292,934 284.295 (9,3871 8,060 292.934 Restrictod funds At 6 April 2021 Gains an At losses 5 Aprll 2022 Ir￿orne Expenditure Reslri¢led Funds 68.410 493.362 1352.970) 18.060) 198.742 18. Analysls of not a8s9ts htw•en funds Un￿str￿ted Funds RestrI￿•d Total Funds Funés 2022 Tangible fix8d assets Current a55els Creditors le¥5 than 1 year Net a88ets 1.722 353.571 {6.8041 348,489 1,722 496.758 16.8041 491.676 143.187 143,187 UnreStr￿ted Funds Re5triGted Total Funds Funds 2021 Tangible fixed assets Current assets Creditors less than 1 year Net assets 2,905 286.199 (4.809) 284,295 2,905 352,609 14,809} 350,705 86.410 66,410 Pie Factory Music Company Limited by Guarantee anagement Information Pago 13 Year ended 5 April 2022 Th• following pa983 do not forn? part of tho flnancial $tatgments. Paga 14 Pie Factory Music Company Limited by Guarantee Detailed Stst¢ment of Financial Activities Year ended 5 April 2022 2022 2021 Income and endowments Donations and 1•ga¢ies Donations Grants receNable 10.954 492.366 10,197 362.249 503,320 372.446 Invèstment income Bank Inl6re51 receivable 25 Total In¢omo 503,328 372,471 Expendlturg Exp8ndltur• on charltablo actlvftle• Purchases Wages and salaries Rates and water Light and heal Repairs and mainlenance Insuranc8 Other molorltravel costs Legal and professional feas Telephone Depreciation Other inle',est payable and similar charges DelailedSOFAExpenditureOnCharilableAcliviliesType2H 1 52.814 189.gJ7 (131 4,137 1.445 2,931 17 2.304 70.016 151,068 1,694 2.735 672 2.783 328 1,860 1.948 2.700 178 3,483 2,092 334 3,545 362.357 239.463 Total oxp•ndfture 362,357 239,463 Net Income 140,971 133.008 Pie Factory Music Company Llmited by Guarantee Page 15 Notes to the Detailed Statement of Financial Activities Year ended 5 April 2022 2022 2021 ExpgrKlltur• on charttable activlti•s Charitable Purposes Support Costs Support charitable actwty - project cost$ Support charitable activity - wageslsalarie$ Support charitable actNity ral8s & water Supwrt charitable activity - I￿h1 & heal Support charitable activity - repairs & malntenance Support charitable 8¢1ivily insurance Support charitable activity - other motorltravel Support charitable activity - Idephone Support ch<.,"itable aclivily depreciation Support charitable acllvity - Sundry 152.814 189.￿17 (131 4.137 1,445 2,931 17 2.844 2.092 3.545 70,016 151,068 1.694 2,735 672 2.783 328 1,948 2,700 3,483 359,719 237,427 Govemance Costs Governance c0518- accountancy fees Governance rosl8 - bank charges 2,304 334 1,860 176 2,638 2,036 Expendilurf op. =har:tai)le actlvltles 362,357 239,463 COMPANY REGISTRATION NUMBER: 04602033 CHARrrY REGISTRATION NUMBER: 1097561 Ple Factory Music Company Llmited by Guarantee Unaudited Financial Statements 5 Aprll 2022 LEVICKS Chartered accountsnts Station Gates 3 Lloyd Road BROADSTAIRS Kent CT10 1HY Pie Factory Music Company Limited by Guarantee Flnancial Ststements Year ended 5 Aprfl 2022 Page Trustees, annual report (incorporating the directorfs rewrt) Independent examinerfs report to the trustees Staternent of financial activities (including in(2)me and expenditure account) Statement of financial position Notes to the financial statements Tho following pago5 do not forni part of the financlal statoments Detailed statement of financial activities 14 Notes to the detailed statement of finanaal activities 15 Pie Factory Music Company Limited by Guarantee Trustees. Annual Report (Incorporating the Directorfs Report) Year ended 5 Aprfl 2022 Pago 1 The trustees. who are also the directors for the wrposes of company law, wesenl their report and the unaudited financial statements of ltte chanty for the year erKled 5 April 2022. R•fgrence and admlnlstratlve details Rogist•rod charlty name 'e Factory Music Charlty regl8tratlon number 1097561 Company reglslratlon number 04602033 Prlnclpal office and r•glstered Ramsgale Youth Centre ¢)fflc• High Street Sl LaW￿nCe Ramsgale CT11 OQG Kenl Thg tru8t•a• Mr M Fagg Ms S Harris Mr J Lane Mr J Barrett Ms S Cant MS B Clayton Ms A Ismal Ms K Ansell Mr E Akinfenwa (Resigned 14 Sèptember 2021 } (Resigned 15 September 2022) (Resh3ned 21 June 20211 Company 8ècr•tary Mrs C O'Reil Ind•pendènt examlner T Pearcy FCCA Sialion Gates 3 Lloyd Road BROADSTAIRS Kent Gr10 1HY Pie Factory Musi Company Limitod by Guarantee Trusto•s' Annual Report (Incorporatlng the Directorfs Report) {¢onNnu•4 Year ended 5 April 2022 Page 2 Small Company provlsions This report has been prepar￿ In aw)rdanc8 with Ih? provI￿n¥ apkqicable to companlas enlthd to the small c£Ympanies exemptk?n. The tru51ees' ann1J￿ f8pryt was approved on Irusl8es by: . arml Signfyd on behall of Ihe board of Mr M Fagg Truslee Pag• 3 Ple Factory Music Company Llmlted by Guarantee Independent Examinerfs Report to the Trustees of Pie Factory PAusi¢ Year ondod 5 Aprll 2022 I remyt to the trustee5 on my examination of the fina￿1￿ strt￿￿ts of Ple Faclory Muslc (Yhe ¢harW) for the year ended 5 AWN 2022. R•8pon¥lblllllM and ba•1¥ of r•port As the Iruslees of the company (and also its directors for the purp¢)ses of company law) you are respJn51ble for the preparalknn of the finaKial Stalefflents in accAirdanc8 requirnments of the compan￿ Act 2006 (Ihe 2006 A¢t'). Havlng satlsfoed myseN thal Ihe aejxwnls of the company are not required to b8 audlted under Part 16 of the 2006 Act and are eliglbb fix Independent examination, I rep)rt in respect of my examination of the chadty's accounts as ¢arrW LMJI under sectKfft 145 of the Charibes Act 2011 1.the 2011 Act.). In carrying out my examinatk)n I have follow￿ the Dlrect*)ns given by the Charity Commls5ion under 8ecUon 145(5Xb) of the 2011 Act. Ind•p•nd•nt •xamln•Vs •tal•m•nt Slnce ch¥lty'8 gross Income exceeded £250.000 y(xff examlnor must bo a membor of a body Ilsted In $e¢tlon 145 of the 2011 Aca. l ￿nfIrM that l am qualif￿d to undert8kg the examlnatlon t￿aUSe l am a m6mber of tho AssociatK￿ of Chwtered Cwtified Actountants, whkh 1$ on8 of the Ilsled th)dle$. I have Completed my examlnolh)n. l Ih8t no matters have come to my attention in connectbn wlth the 8xamlnatlon glwng me ￿￿se to bollove: accounting recwds ￿re not kepl in respect of tho a8 r8qulred by s￿10n 386 of the K16 Act.. or the financyal 8tatsmènts not acoxd with those fO¢￿d8' fx the 16nanLial statements do Mt compty with th8 a(XX￿￿1In9 requlrements of Sertlon 396 of the 2006 Act other than any requirement that th8 accounts gfve a 'true arKI fay vlthv whkh Is not a matter considered as part of an irtyendent examination., or the financlal s18temenls have Mt been prep￿ In acc4xdanc8 wlth the m8lhod$ and prI￿pIeS of the St8lemenl of Re￿thM￿nded Prackn for amnling and reporting by char￿1¢$ appltabie to charities prepariro Iheir accounts in ace£￿darte wlth the FIna￿ls1 Rep)rtlng Standwd apF4l¢abl6 in the UK and Republlc of Ireland {FRS 102). I have no concerns arNI have c(xne across rK• oll*r matters in connection wlih the examination to which att on should be drawn In Ihls rewl in ordw to enabkn a proper understandirMJ of the accounts TPea Ind8pendent Exomlnoron ,12F23 Ststion Gale8 3 Lbyd Road Broa¢J8tair8 Kent CT10 IHY Page 4 Ple Factory Muslc Company Lirnited by Guarantee Statement of Flnancial Activlties (including income and expenditure account) Yaar ended 5 Aprfl 2022 2022 Restricted funds Total funds TO1￿ fijnds 2021 un￿trIcted funds Income and •ndowm•nts Donations and legacles Investment income 9.958 493.362 503,320 372,448 25 Tolal income 9.966 493,362 503,328 372,471 Expondltur• Expenditure on charitable activities Total exp•ndlturo 9.387 2.970 362,357 239.463 9,387 352,970 362.357 239,463 Net In¢omo 579 140.392 140,971 133,008 Other r•cognised galns and loss Other gainsll10s5esl user defined 1 Not movement in fund8 8,060 8.639 18.060} 132.332 140,971 133,008 Reconclllallon of funds Total funds broughi forward Total funds caffled forward 284,295 292.934 86,410 350,705 491,676 217,697 198,742 350,705 The statement of finanelal activities induées all gains and loss&s recognised in the y•8T. All Income and expenditure derive from contsnuing activities. The nots8 on pagos 6 to 12 forn) part of these finandal slateM￿. Ple Factory Muslc Company Limited by Guarantee Statement of Financial Posltlon 5 Aprll 2022 2022 2021 Nots Flxod a$$ets T8noit4e fixed assets 14 1,722 2.￿5 Curront 4s¥ets Debtors Cash al bank 8rKI in hand 15 42.220 454.538 42,998 309,611 496.758 352,609 Cr•dltor8.' amounts fallSng du• wlthin oft• y•ar Net curr•nt 48s•18 16 e.804 4,809 347,800 489,954 Total a8s•l$1•88 curr•nt Ilablllll•8 491,676 350,705 Funds ofth• ¢harfty Reslrlcied funds Unr851rlclgd funds 198,742 292,934 eo,410 284,295 Total charlty funds 17 491.676 350.705 For th¢ year endlng S April 2022 Ihe charity was enlrtied lo exempOon from ajdil ur#Jer sectbn 477 of the Companles Act 2006 relaiirvJ to 8mall companies. Dlreclorts, re$ponsiblli¥es: The membws have not requlred Ihe compary to obtaln an audit of Ils finaftclal slatem￿ts for Ih? year in questi￿ in ¥AYdance wilh 478: The directors acknowledge thelr re$ponsibilil*s for CCrfnp￿'n9 with th¢ requirements ol ihe Act wllh rosp￿t lo aixountsng rgcords and the prepara1￿ of fiftanc￿ stalem8nts. These flnanclal slatemenls have b&8n wepared in 8ecaYdarKo with the wovlsbny 8ppltable to companles subjecl lo the small cornpanies. reg#ne. se nan¢ral statements w•rg appyoved by ts board of tsv$lg95 arKI autlb)rlsed for bsue on and are stgned on ￿hall of th8 board by.. Mr agg Trustee The notes on pag• 6 to 12 f¢mi part tsfthese financial ststements. Page 6 Pie Factory Muslc Company Limited by Guarantee Notes to the Financial Statements Year ended 5 April 2022 General infomiation The charity Is a wblic benefit entity and a wivale company limited by guarantee, registered in England and Wales and a regislered ch&ity in England and Wales. The address of the registered office is Ramsgale Youlh Centre. HKJh Street. St Law￿nce, Ramsgate, CT11 OQG, Kent. Statement of complianc• 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 Rocommended Practs'ce ap￿leable to charlties preparing their accounts in accordance with the Flnan¢lal Reporting Standard applicable in the UK and Republic of Ireland (FRS 1021 IChaTilie$ SORP IFRS 10211 and the Companies Act 2006. Accountlng poli¢i•s Basls of pr¢paratlon The financial statements have been prepared on the historical cost basls, as modified by the revaluation of certain finano'al assets and liabililies and inve$tmenl propertles measured al fair value thro¢Jgh Incom• or expendilure. The financial slalemenis a￿ prepared in slerliw. which 1$ the fun¢tional currency of the enlty. Golng concern There are no material unc8rtainlie$ about the chariVs atxlity to ¢ontinue. Dl¥Glo8uro exomptlons The entity satisfies the ¢riteria of beiry a qualrfytng entity as defined in FRS 102. Judgoments and key Sour￿ of •8tlmatlon uncertalnty The preparation of the financial statements requires management to mak8 ludgemenls. eslimale5 and assumptions Ihal affect the amounts reported. These estimates and judgements are continually ￿V￿we￿ and are based on experience and other lactors, including expectations of fubjre events that are believed lo be reasonable under the urcum$lances. Fund accountlng ReStr￿ted funds are subjected lo restrictKins on their expenditure declared by the donor or through the term5 Qf an appeal, and fall into one of iwo sub-classes.. reslricled in￿rne funds or endowment funds. Induded within Ihe restrmxed fijnds is 8 uyanl from Youth Music. Page 7 Ple Factory Muslc Company Limited by Guarantee Notes to the Financial Statements (conthiwdl Year ended 5 Aprll 2022 A¢counting policles fconthu8d) Incomlng resources l incoming resources are inciuded in the stslement of financial aCtNit￿S whgn entrtfemgnt has passed to the charity., it is probable that the economic benefrts associated with the transaction wlll flow lo the charity and the amount can be reli4bty measured. The following swfic policios are applied lo particular Categ￿eS of income: income from donalions or grants is reccgni5ed when there is evidence of enlillement lo th8 gift, receipt is probable and ils amounl can be measured reliably. legacy income is recognixd when receipt is probable and enlillemenl is eslabllshed. income from donated goods is measured at the fair value of the wods unless this 15 impraclul lo Measu￿ reliably, in which ease the value is derived from the c051 to the donor or ihe estimated resale value. Donated facilities and services are recognised in the accounts when recetved rf the valuè can be reliably measured. No amounts are induded for the contrityjt'on of general volunteers. Income from contracts fty the sUp￿Y of services is recognised with the delivery of the Contrael￿ seNice. This is classjfied as unreslricled funds unless there is a conlraclual requirement for rt to be spent on a particular purpose and returned rf unspent, In which ¢a$e il may be regarded as iestrlcted. Re8ourco8 •xp•nd Expenditure is recognised on an accnjals basis as a liabilty is incurred. Expendllure includes any VAT which cannot be fully recovered, and is ClaSsrf￿ under headings of the statement of financial activities lo which it relates.. exFerKlilure on raising furKls Includes the c08ts of all fundralsln9 actrvities. events. non-¢haritable trading aclivits'es, and the sale of donated wods. expenditure on charltable aclivllies IrK4udes all costs Inwffed by a ¢harily in undertaking activities that further ils charitsble aims for the benefit of ils beneficiaries, induding those support costs and costs relating lo the governance of the charity appth'oned lo charitable adivrties. other expendiluTr indudes all expendlture that Is neNhef related lo raising funds for the charity nor pwt of ils expenditure on ch8ritatAe activitles. Al ¢os15 are allocated lo expendi￿re categories refflecting the use of the ￿￿r¢e. Direct ¢o$ts attributable lo a single acbvity are allocaled directly to Ihal activity. Shared costs are apportioned between the acINII￿S they conth"L¥Jte to on a reasonabk, justifiable and consislanl basis. Tanglble assets Tangible assets are initially recorded al cost, and subsequenlty slated at cost less any accumulated depreciation and impaimient losses. Any tangible assets carried at revalued amounts are ￿e0rded at the fair value al the date of revaluation less ary subsequent accumulated detyeciab.on and subsequent ac(yJmulaled impaimient losses. Ple Factory Muslc Company Limited by Guarantee Notes to the Financial Statements (contiftuod) Year ended 5 April 2022 Page 8 Accounting policies (condnwd) Tanglbl¢ assets fcontrnwd) An increase in the carrying amount of an asset as a result of a revalualion, is recognised in other recognised gains and losses, unless it revefses a Charge for impairment that has previously been r￿ognISed as expenditure within the statement of fina￿la1 aclwilh8s. A decrease in the carrying amount of an asset as a result of revaluation, Is recognised in other recognised gains and10sse5, except to which it offsets any WeV￿uS revaluallon gain. in which case the loss is shown wilhln other recognised gains and losses on the statement of fina￿jaI activttles. Depreclatlon Depreciation is calwlated so 85 to write off the cost or valuatk)n of an assel. less 115 r88idual value, over the useful economrc lrfe of that asset as follows: Equipment Computer Equlpmenl 25% on cost 2S% on Cost Impalrrnent of Ilx•d as#ots A review for indicators of impairment is carried out al each rewting dale. with the recoverable amount being estimated where such indicators exist. INhere the carrying value exceeds the recoverable amount, the as$el is impaired accordingly. Prior impairments are also reviewed for possi￿8 reversal al each reptytlng dale. For the purFoses of impairrnent testing, when it 1$ ml possible to esllmale the recoverable amounl of an individual asset, an estimate is made of the recoverable amount of the cash-generaling unil lo whrh the asset belongs. The cash-genoraling unil is the smallest identifiable group of assets that includes the asset and general&s cash Inflows that largely Independenl of the cash infiows trom other assets or groups of assets. Flnanclal In8trum•nts A financial asset or a financia liatxllty k8 recognised only when the enlty becomes a party lo the Contractual provisions of the inslrumenl. Baslc financial instruments aro initially recognised at the amount receivable or paabl8 Including any related transaction costs, unless the arraJwemenl constitutes a financing transaction, where il is recognised al the wesent value of the future payments drscounled at a markot rale of interest for a slmilar debt instnjment. Current assets and Current liabil11￿ arè subsequently measured al the cash or other conS￿eration expected to be paKI or rewved and not discounted. Limited by guarantee The charity is controlled by goveming document. a deed of Irusl, and con5tilulo5 a limited company, limited by guarantee. as defined by the Companies Act 2006. Pie Factory Music Company Limited by Guarantee Notes to the Flnancial Statements (conllnued) Year ended 5 April 2022 Pagè 9 Donatlons and legacio8 Unrestr￿ted Furmjs Restricted Total Funds Funds 2022 Donations Donations 9,708 1,246 10,954 Grants Grants re￿1vable 250 492,116 492,366 503,320 9,958 493,362 Unreslri¢ied Funds Reslrlcted Totsl Funds Funds 2021 Donatlon$ Donallons 2,￿2 7.295 10,197 Grants Grants receivable 264,928 97.321 362.249 267,830 104,616 372.446 Investm•nt income Unrestricted Total Funds Unrestricted Total Funds Furmjs 20T2 Funds 2021 Bank interest receivable 25 25 Expondituro on charltab10 a¢iivftlu. So9 note 8 for the breakd¢x¥n b•twe•n rn8tri¢tod and unr•strfct•d fvnds. Support Total funds costs 2022 Totsl fund 2021 Charitable Purposes Governance costs 359.719 2.638 359.719 2,638 237.427 2.036 239,483 362.357 362,357 Pie Factory Music Company Limitsd by Guarantee Notes to the Financlal Statements (conwmffjdj Year ended 5 April 2022 Pag& 10 Roslrlcled and uniastricted funds. Unrestricted Funds Restricted Total Funds Funds 2022 2022 Expenditijre on charitsble a¢tNities 9,387 352.970 362.357 Unrestricted Funds Reslricled Total Funds FurKJ5 2021 2021 ExpeTrdilure on charitable aclrvilie¥ 200,833 38.630 239.463 Analys53 ol activity Analysls of supwrt ￿)Sts a¢lNrty T￿al 2022 Total 2021 Staff costs Premises General office Project Depreciation 189.￿7 189.907 8,500 6,389 152.831 2,092 151.118 8,212 5,431 70.295 2.700 6,389 152,831 2.092 359.719 359,719 237,756 10, Not Incomo Nel Income 1$ slated after chargI￿(creditiru)'. 2022 2021 Depreclation of tangible fixed assets 2.092 2,700 11. Independont examlnatlon fe49 2022 2021 Fees payable lo the Independent examiner for.. Independent examination of the financial statements 2,304 1,860 12. Staff cost¥ The average head count of employees during the year was 18 {2021.. 16). The average number of full-time equwalenl employees during th8 year is anaysed as fc41ows'. 2022 No. 2021 No. Number ofsl8ff - Admin 18 16 No em￿oyee r￿1v￿ employee benefits of more than £60,000 during the year {2021'. Nil). Pagè 11 Pie Factory Muslc Company Lirnlted by Guarantee Notes to the Flnancial Statem•nts l¢onthK Year end•d 5 April 2022 13. Trustee rernunerallon and expens•s No remuneration other beneffts from emtdoymenl wth charity or a related ontty were rewved by the truste8S. 14. Tanglble flx•d as8•ts Fixtures and frttings Equipment Total Cost Al 6 April 2021 Addllicffls 88,352 23,386 111,738 g09 At 6 Aprll 2022 D•prn¢lation Ai 6 April 2021 Charge for the year Al S Aprll 2022 Carrylng amount At S Aprfl 2022 At 5 April 2021 88,352 24.295 112,847 86,905 1,147 21.928 108,833 2,092 110,925 88,052 22,873 1,422 1.458 1,722 2.WJ5 1,447 15. Debtors 2022 2021 Trade debtors Prepayments and accfuod income 39.488 2,732 42,220 40.231 2.767 42,998 16. Croditorn: Ydnounts fallin9 due wlthin one year 2022 2021 Tpde creditors Other creditors 1,652 5,152 8,804 818 3,991 4,809 Pie Factory Muslc Company Limited by Guarantee Notes to the Flnancial Statements (conth*d) Year ended 5 April 2022 Page 12 17. Analysls of ¢haritgble fund$ Unrestrlct•d funds Al 6 April 2021 Gains and At losses S April 2022 Iruime Expendrture General funds Designated Fund contingency reserve 284,295 (9.387) 8,060 292,934 284.295 (9,3871 8,060 292.934 Restrictod funds At 6 April 2021 Gains an At losses 5 Aprll 2022 Ir￿orne Expenditure Reslri¢led Funds 68.410 493.362 1352.970) 18.060) 198.742 18. Analysls of not a8s9ts htw•en funds Un￿str￿ted Funds RestrI￿•d Total Funds Funés 2022 Tangible fix8d assets Current a55els Creditors le¥5 than 1 year Net a88ets 1.722 353.571 {6.8041 348,489 1,722 496.758 16.8041 491.676 143.187 143,187 UnreStr￿ted Funds Re5triGted Total Funds Funds 2021 Tangible fixed assets Current assets Creditors less than 1 year Net assets 2,905 286.199 (4.809) 284,295 2,905 352,609 14,809} 350,705 86.410 66,410 Pie Factory Music Company Limited by Guarantee anagement Information Pago 13 Year ended 5 April 2022 Th• following pa983 do not forn? part of tho flnancial $tatgments. Paga 14 Pie Factory Music Company Limited by Guarantee Detailed Stst¢ment of Financial Activities Year ended 5 April 2022 2022 2021 Income and endowments Donations and 1•ga¢ies Donations Grants receNable 10.954 492.366 10,197 362.249 503,320 372.446 Invèstment income Bank Inl6re51 receivable 25 Total In¢omo 503,328 372,471 Expendlturg Exp8ndltur• on charltablo actlvftle• Purchases Wages and salaries Rates and water Light and heal Repairs and mainlenance Insuranc8 Other molorltravel costs Legal and professional feas Telephone Depreciation Other inle',est payable and similar charges DelailedSOFAExpenditureOnCharilableAcliviliesType2H 1 52.814 189.gJ7 (131 4,137 1.445 2,931 17 2.304 70.016 151,068 1,694 2.735 672 2.783 328 1,860 1.948 2.700 178 3,483 2,092 334 3,545 362.357 239.463 Total oxp•ndfture 362,357 239,463 Net Income 140,971 133.008 Pie Factory Music Company Llmited by Guarantee Page 15 Notes to the Detailed Statement of Financial Activities Year ended 5 April 2022 2022 2021 ExpgrKlltur• on charttable activlti•s Charitable Purposes Support Costs Support charitable actwty - project cost$ Support charitable activity - wageslsalarie$ Support charitable actNity ral8s & water Supwrt charitable activity - I￿h1 & heal Support charitable activity - repairs & malntenance Support charitable 8¢1ivily insurance Support charitable activity - other motorltravel Support charitable activity - Idephone Support ch<.,"itable aclivily depreciation Support charitable acllvity - Sundry 152.814 189.￿17 (131 4.137 1,445 2,931 17 2.844 2.092 3.545 70,016 151,068 1.694 2,735 672 2.783 328 1,948 2,700 3,483 359,719 237,427 Govemance Costs Governance c0518- accountancy fees Governance rosl8 - bank charges 2,304 334 1,860 176 2,638 2,036 Expendilurf op. =har:tai)le actlvltles 362,357 239,463