PIE FACTORY MUSIC Trustees Annual Report April 2023 - March 2024 Registered Address: Ramsgate Youth Centre High Street, St Lawrence RAMSGATE Kent CT11 OQG Tel.. 01843 596777 1596998 Email.. info@piefactorymusic.com www.piefactorymusic.com Registered Charity No. 1097561 Company Limited by Guarantee No. 04602033 Trustees to the Charitv John Barrett appointed 23 April 2019 appointed as Vice Chair 14 May 2019 appointed 23, April 2019 Ih appointed 24 April 2019 appointed as Chair 141h May 2019 appointed 2nd December 2020 appointed 7th December 2020 Sarah Cant Mike Fagg Katie Ansell Aniq Ismat Treasurer John Barrett Ih appointed 10 June 2019 Company Secretary Caroline O'Reilly Ih appointed 27 November 2002 Senior Management Team Steph Dickinson Managing Director resigned 27, April 2023 Finance Manager Programme Manager (Music & Creative Arts} appointed CEO I" May 2023 Programme Manager (Youth Workl Caroline O'Reilly Zoe Carassik-Lord Luis Dawber Pie Factory Music Trustees Annual Report . April 2023 - March 2024 Structure, Governance & Management Pie Factory Music is a charitable company limited by guarantee, incorporated 27th November 2002 nd 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 8overnance such as scrutinisin8 financial and operational reports and updating the organisational risk register. As well as full Board meetin8S, the Trustees and Senior Management Team have worked in the Finance and Governance subgroup, helping to move the charity forward and keep focus on this specific area. In previous years, we have also operated a People's subgroup and Fundraising subgroup, which have been dormant this year. With a planned Trustee recruitment drive scheduled for April 2024, we will look at the charitws needs again and reassess our subgroups. This way of working together provides a robust and tangible implementation of our governance structure, improving the efficacy of a cohesive leadership team. Impact of Covid-19 Although the immediate impact of Covid-19 has passed, we continue to see a significant increase in issues around mental health and wellbeing across the board. To this end, we have worked at securing further funding to enhance our pastoral offer, both to the young people we work with and also our staff and volunteers in an effort to make a positive impact. We do not anticipate the increase in mental health and wellbeing issues diminishing in the near future as the full effects of the pandemic continue to spread through our communities. Vision and Mission We believe in a world where every young person hos a good quolity oAlife with equal occess to reative opportunities ond o community oAsupport. Pie Factory Music exi5t5 to provide creotive opportunities ond a communityfor young people through youth work, music and creotive art5 P05tornl 5UPPOrt ond sector development. In 2021 we developed a Theory of Change to articulate the impact we are having and illustrate the rationale behind all of our work. MUSIC & CREATIVE ARTS PROGRAMME YOUTH WORK PROGRAMME PASTOAAL CARE PROGRAMME SECTOR DEVELOPMENT Fu•)dlng ¢oniinu•8 io b• ¥¥•ll•ble SuitBble piemises ¢ontinue$ io be a¥ailable Pariner agencies 8ppreciaie the value of ouf work Public has awareness ol ihe imporian¢e of youih Wofk, mLtrSiC and Cfealive art$ IWld•i lands¢ape of $ervl¢e$ for yovng peoplè continues io ex161 Youn9 P•vpl• Organl*•tlon•l Emotlonal Wellbeing Inereèse young people's eonllL1ence and sell-eyteern So¢l•l W•llb•lng Strengthèn connections bttween young ptople and their communities Workforce Inttèase St8fl wellbolng and work satlsfacilon Phy•l¢•l W•llb•lng mprove Ihe physical wellbeing of young people Mullc & Cr••tiv• Arts Improve young people's ust¢al and creative skills tncrease financial viabillty of Ple Faetory Muslc Llle Skllls Imp¥o¥e young people's loundational skills and Youth Volc Increase ihe power that young people have io make .Jee15ions and effect chanoe S•¢ior Insplre heplthy orgpnlsatlonal culturè TO IMPROVE YOUNG PEOPLE'S QUALITY OF LIFE Our Values We believe that how we achieve our mission is as important as the mission itself. We believe that the way we treat people shape5 our culture and our community. Over our 20 years of existence as a charity we have developed a culture where the following things are really important to us. We'll always try to be: Young person-led We make space for young people to lead. co-produce and make decisions at every level of our organisation. Inclusive We are open to all and commit to breaking down barriers to participation so that everyone feels welcome and has equal access. • Kind We believe that kindness is an essential part of who we are and want to model this to everyone we work with. Creative We take a creative approach to our work, allowing us to move forwards with openness and innovation. Collaborative We're stron8er tO8ether and welcome opportunities to collaborate with others. Brave We are here to make a difference and will bravely advocate for young people and their needs. Fun We believe that it is vital to a healthy organisational culture that fun is at the heart of the way that we work alon85ide each other. Youth Work Programme Open Access highlights 2023-24 offered a multitude of open access opportunities for our young people, both in Dover district and in Thanet, in addition to our regular open access youth work programme. Some highlights included= Thanet 768 Dover 360 Total number of individual young people who have attended sessions Total number of sessions delivered 813 232 Open Access Youth Sessions Our senior Open Access sessions, Live Room and Band Room, continue to attract good attendance, with the same young people attending regularly. Our attendance numbers continue to increase steadily, with 30-40 young people attending each week. We provide food in every session. and our youth food bank, Bits & Bites, is well-used by our young people. Here are a few comments from our attendees.. Pie is more than o youth club. it's a second homeforsome young people. It's o ploce I con go where I hove the chance to talk to odults about onything thot'5 going on. Pie is o safe haven. It's o place I can makefriends. The people here ore respectful and kind. I get a sense of comfort ond safety here, it'5 afresh stort. ACTI Our youth-led community social action group have project-managed and taken part in several projects to benefit local families and charities this year. Highlights have included: Sponsored cycle, raising money for MPS, April 2023 Wellbeing Awareness Oay at Ellington Park, Au8USt 2023 Christmas cards and carols for Pilgrims Hospice, December 2023 180 Christmas Hampers for young people in Thanet and Dover (funded through HAFI. December 2023 The group have also performed regular litter picks from April to October 2023, in various Ramsgate locations, primarily including Ellin8ton Park and Warre Rec. Duke of Edinburgh's Award Thi5 year our Duke of Edinburgh programme ha5 run three groups of participants, one Bronze and two Silver. The Bronze participants are well on their way to completin8 their awards, expecting to complete their qualifying expedition in May 2024. The Silver groups are a combination of a number of youn8 people with complex needs and it has been a slowerjourney for them. They completed their Practice expedition in July 2023, but they are not expecting to complete their Qualifyin8 expedition until mid-2024. In total, we have had six Bronze participants and 13 Silver participants. Detached This is a youth work approach where we engage with young people wherever they choose to meet e.g., town centre or park areas, outside of centre-based activities. Our detached youth work offer continued throughout the year, in partnership with KCC Youth Hubs and other 5UPPOrtive providers. The aim was to ensure that we are supporting young people and building lasting relationships with young people within the communitv. HAF funded activities Through HAF funding from Kent County Council IKCCI. we were able to offer more opportunities to the young people ofThanet and Dover. During the summer holidays we offered several trips and activities to engage our young people, including a film trip to see Barbie at the Vue cinema, a be3ch party on Ram5gate Sands and a trip to Elev8. During the October Half Term, we ran a football tournament at Baypoint Sports Centre. with teams competing for both medals and glory. We offered trips and sessions during the first week of the Christmas holidays, to offer Christmas parties for our young people, with festive games. food. and activities. We also offered 3 fully funded trips, taking 20 young people to Gravity at Bluewater and 10 young people to see Aladdin at the Marlowe Theatre in Canterbury. One of the young people who came with us to see Aladdin said that he had never seen an actual pantomime before and was just so excited to be there with his friends. Our ACTI young volunteers group put together 180 Christmas hampers to go out to youn8 people in Thanet and Dover. Through November and December, the group chose the items to go into the hampers, put them together and with support from our staff team arranged distribution. Residentials and trip5 We offered two mountain biking trips to Betteshan8ar Country Park last year during May half term and the summer holiday. This activity is always very popular with our young people, and they reallv enjoy riding the off-road tracks. For the third year running, we ran a week-long residential trip in August. We took a 8roup of 10 youn8 people to Arete Outdoor Centre in North Wales for 6 days away from home, taking part in activities designed to increase their knowledge, confidence, self-belief and expand their comfort zone. The young people abseiled. rock climbed, learned how to build and light fires in the wild, explored an old slate mine. climbed up a river gorge. zip lined over crevasses, tried paddleboarding and took part in sea.level traversing and coasteering. Projerts and event5 Icons of Rams ate During October half term, local artist Carson Parkin-Fairley worked with a group of young people to enable them to each create their own Icons, celebratin8 themselves. These artworks formed part of a Thanet-wide project, with pieces displayed in a local gallery Space for two weeks. Each attendee received a booklet celebratin8 the pieces and the project and kept their own artwork. ton Park Wellbein event OurACT! voung volunteers took part in the Ellington Park Wellbeing Event on 11 Au8U5t, the group created their own Wellbeing tree and encouraged people to write positive messages on their paper leaves, stickin8 them to the tree branches. The aim was to have a whole tree of positivity to display in our centre. th Bike Pro ect The Bike Project maintains a small group which allows for sessions to be focused and direct in delivery. Helping to improve basic bike knowledge and to encourage physical activity by riding bikes. Plans have been put in place to have our attendees lead the planning process on how our sessions could offer more variety, and to come up with a new name for Bike Project. Bike Pro ect l..1 sessions Early last year, a young person who was attending our Bike Project 1-.2-.Is was working towards his City & Guilds. l am pleased to report that in July 2023, he achieved his City & Guilds Level l in Bike Maintenance. In January 2024, we offered l..1 sessions to a young person who wa5 referred on from his social worker. His behaviour was affecting his performance at school but had an interest in bikes. Unfortunately, he didn't attend our full l.. I programme but left with some knowledge on tire repairs. Bike Pro ect Worksho In September 2023, CMK funded us to lead bike projert focused workshops outside of Pie Factory Music. We were able to deliver these at Quarterdeck in Margate for 6 weeks every Friday. Each week we were able to focus on a specific part of the bike different from the last. An outcome of this was that a young person who attended our workshop has Joined us in Rams8ate in both Bike Project and our open access sessions. In March, CMK funded us again to be able to deliver bike project in the 8rounds of Margate leisure entre, as a drop-in workshop. We had great engagement and currently plan to repeat this next vear if funding allows. Junior Youth Club Junior youth club continues to be a very popular session, with 30 to 40 youn8 people attendin8 each week. We incorporate food into the session. always with the goal to have young people follow a Simple recipe and to learn basic kitchen and cooking/baking skills. There is always a heavy emphasis on having fun, so we provide a range of activities throughout the rest of the space including.. Football, dancing, arts & cr3fts. learnin8 music in our band room, almost always doing 8roiJp physical activities that will get them communicating, moving or working as a team. le Awards On Wednesday 3rd May, several of our young people took part in the Try Angle Award celebration evening at Quarterdeck in Margate. One young person was compére for the evening and 'Unique', a dance group comprising 9 attendees of our junior session, performed 3 dances during the evening. The Jamie Ferguson Band, formed from attendees to our Band Room se55ion, received an award in the Music category. Wider Community Work PFM plays a pivotal, strategic role within the wider community of statutory, voluntary, community and art5 or8anisations across Thanet and East Kent. PFM is a member of a number of strategic bodies and forums, relating to youth services. community safety, regeneration, and public sector infrastructure, including: Thanet Youth Network (Chairl Thanet Regeneration Partnership Board Thanet Community Safety Partnership Kent & Medway VCSE Steering Group Creative Kent Music & Creative Arts Programme Pie Factory Music has a two pronged approach to its music provision. We offer larger open access sessions where young people can not only focus on advancing their musical skills, but also work towards building social skills. improving confidence and building relationships with their peers. We also provide smaller sessions, many of which are open to applicants from the wider local area, where participants can work on focused musical activities with more defined outcomes and goals. These smaller groups are also set up to cater for individuals who may feel uncomfortable in larger sessions, or as a bridge for young people who have started with our one to one sessions and want to join larger activities. Across 2023-24. a total of 471 young people accessed Music and Creative Arts through a wide range of services and programmes, including Emerging Artists, Genfest, The Pie Choir, Take Two, Band Room, studio sessions, recording sessions, one to one sessions and events. In total, 177 sessions were delivered by our Creative Practitioners. GenfÈst A small group from the Bandroom session worked together to create original songs, spoken word and electronic music over the course of an eight week workshop. This culminated in a performance at the Genfest Festival in Canterbury on the 17th of June. Genfest is a free festival curated by and for 13-25 year olds, celebrating young people's creativity and 8ivin8 a platform to young voices in Kent. For many of the participants this was the first time performin8 a live show, not only in front of a public audience, but also family and friends. It was a great day out and a fantastic learning experience for all involved. As well as performing, the participants gained firsthand experience of workin8 Wlth stage and production crew. They also had to deal with a last minute change due to the unpredictable British weather! Take Two A small group of participants from our Bandroom session. along with external applicants from outside of Pie Factory Music, worked together to select. learn and record a number of cover version5. The group chose an interesting and diverse range of material,introducing each other to new artists and songs they may have otherwise never encountered. The process of studying the songs allowed us to discuss various topics such a5 time 5i8natures. key signatures, chord progressions and arrangement. hopefully going some way to demystify the song writing process. The participants also gained some firsthand experience of using our studio space and equipment to record themselves. Several of the new applicants have continued to attend our open access sessions. Pie Choir Over an eight week period a group of young people formed the Pie Factory Choir to learn, rehearse and perform a selection of Christmas carols and contemporary vocal arrangements. The group worked on songs such as 'Silent night,, 'The Holly and Ivl, 'Jin8le Bell Rock, and John Lennon's 'Merry Christmas (War is Over}.. The programme culminated with the choir performing a number of concerts in the local area, including the Pilgrims H05pice in Margate and Ark. The Cliftonville Cultural Space, supporting the Margate Social Singing Choir. Emerging Artists Emerging artist began its 2023 programme on the 23rd of August, the first year of two year funding. The participants have performed one of their three scheduled shows and are working towards their second. In November they ran a Pie Factory Music fundraiser at Margate's WhereElseP venue and are currently planning their show at OlbWs Soul Cafe in April. Several of the participants have developed their live shows in the interim, working together. or through their combined contacts, to turn their solo performances into full band projects. Participants have taken part in masterclass sessions from industry experts on topics such as on PRS, distribution, running a label and booking their own gigs. They have also been able to have re8ular one to one sessions with their own individual mentors. The Emerging Artists have been working towards a joint EP, the third release for Wantsum music. They have had a group A&R session with a representative from Arts Exchange'5 Tonetic Records to discuss song choices and are currently working tO8ether and with their mentors to plan the recording of material. Some of the participants are putting their individual bud8ets towards the recording process, hiring in professional musicians to perform for them. Sports Connect A group of young people from the Sports Connect programme came to Pie Factory Music on October the 10th for a morning of music based activities. They worked through a performance of 'Seven Nation Army, even thou8h some of them had no previous musical experience. or hadn't played an instrument for years. During the second half of the session the participants were able to Use the studio facilities to record their own original material. Games Workshop An extern31 practitioner came to Pie Factory Music in Au8USt 2023 to deliver a four week game creation workshop. The workshops focussed on using the Gamemaker software package to create a version of 'Space Invaders,, whilst also taking time to teach them a bit of history about video games, the current independent game scene and introducing them to the various game development tools that are available. io Game creation can encompasses a broad selection of artistic skills from art. music, storytelling and programming. With the tools available it is easy for young people to use games as a way of expressing themselves. Many of the skills they would develop are also transferable into other creative path5 and potentially careers. Impact of Our Programme Quote: Genfest Performer "Genfest was really enjoyable and a brand new experience for me. On the day I played the drums for the band and also performed a couple of poems. We performed one of my songs that had been reworked by the group and also a couple of songs we had co-written together. Genfest really helped with my nerves performing in front of a crowd and has helped with my confidence when being involved with other projects" Quote: Take Two and Bandroom Participant "The first time I came to Pie Factory was through their Take Two, workshop. It was really good and I met103ds of people instantly. After this, I started to come to the weekday sessions including Tuesdays Bandroom. I like the fact there are various activities and we don't have to focus on one single activity, I like being in the studio and would love to be able to do more of that. Away from the music l also like being able to play basketball I I feel like I have progressed loads by being here and playin8 Wlth everyone, way faster than I would have just practisin8 on my own. I've met loads of people and feel like I know everyone here now. I've brought loads of my friends along as welll" Quote: Emerging Artists participant 'My main goal coming into emerging artists was to establish myself as a proper artist rather than just a kid who writes songs. I feel like I have stepped into my artistry a lot since being here. I wanted to be able to release my own music, work with other musicians both live and in the studio, which Emerging Artists has allowed me to do. I've had loads of opportunities and I've made so many contacts here including my band members and local venues. I have also discovered an interest in the busines5 of running a label and have been able to work with a local management company to gain experience as well helping out with Pie Factory's Wantsum label. I feel like Emergin8 Artists has opened loads of doors for me I" Open Arms Open Arms is Pie Factory Music's programme for youn8 unaccompanied asylum seekers and refugees, funded by the NHS Kent & Medway Integrated Care Board. In the last year the Open Arms programme has continued to grow and 5UPPOrt a large number of young asylum seekers and refugees living in the Thanet area and as far as Canterbury, Dover and Ashford. Open Arms offers a warm welcome every Friday evening to new and returning participant5, providing a safe and fun atmosphere for youn8 people to meet others from their home countries or who have had similar migratory experience5. li A key part of the Open Arms sessions is sport and physical activity. This often includes pool and table football, and other straightforward activities which help to ease in newcomers to the sessions who have recently arrived in the country and have minimal spoken English. Football, table tennis and hockey have also been popular and enhance the social connections and the physical wellbeing of the group. A highlight of the last year has been our ongoing collaboration with the Kent Community Cricket Foundation, who have run cricket sessions at Ellington Juniors for the Open Arms group, many of whom are keen cricketers. We have also brought in a skateboarding coach - Skorcha Skate School for a number of skateboarding lessons which has appealed to others within the Open Arms Broup and been a particular highlight of the year. The Open Arms sessions also encourage creative activities as a means to relax. This has included singing, playing instruments, painting, drawin8, clay, and badge-makin8. Often these activities offer a good chance for young people to talk and practise English language skills - for example at the new year the group made a large banner with their home-countrfs fla85 on and we discussed our wishes for the year ahead. We have organised a number of trips throughout the year, including bowling and m05t significantly, a refugee week exhibition and party, which also celebrated the 1st year of the Open Arms programme. To mark this, we also made a video which celebrated the youn8 refugees living in our area who have been part of Open Arms. With this event, we aimed to make sure the Open Arms participants feel fully welcomed and valued. This has also been the focus of our session at Christmas where we handed out presents to everyone in the group. Every week Open Arms Staff and young people prepare food for the group. Sitting down to a meal together is a universal form of connection and helps everyone to feel at ease and cared for. Throughout the year we have also continued to work on our Cookbook and made progress with this, by commissioning a cover by a local artist and working with food photographers to start compiling the contents of our book. In collaboration with young people and foster carers, we are continuing to collect a diverse set of recipes which reflects the back8rounds of our young people. We have worked with other local organisations who support refugee and asylum seeking young people, such as KRAN and arts ed exchan8e. to try and continue to attract youn8 people to our sessions. This has allowed us to strengthen the network of professionals and ensure that more youn8 people are aware of what we offer. This is reflected in the increase in participants at our sessions towards the end of this year. Case studv As Open Arms has developed we have been able to see the benefits of the programme to the youn8 people who attend. Some of the group have been attending since the very beginning and the sessions have become an important part of their week. Other participants are on the 'National Transfer Scheme, and only spend a few weeks or months in the area before being moved to a different Local Authority. These young people are not entitled to enrol in schooling or any other local services, 50 Open Arms is a unique opportunity for them to meet other young people from their backgrounds. 12 Conversely, some of the young people who have stopped attending have been a sign of the benefit of the sessions. For example, one young person who turned 18 no longer comes to the group every week because he is now in work. and feels he no longer'needs, the support of the programme. However, he does still visit every month or so to 'check in, on everyone, and help translate for any newly arrived Afghans who do not yet know English. He views his role as a kind of older brother to the newer participants. Within his own foster placement. he has started teaching younger foster children from refugee backgrounds cooking skills. Quotes During a trip bowling in December 2023, two young boys who attended told us that Open Arms is the highlight of their week. and that they look forward to it throughout the school week. Attending Open Ams is the only opportunity they get all week to see their out-of school friends. Thi5 led us to ref lect on the importance of trips and activities which the young people would see as fun and exciting, because they make the youn8 people feel that they are being treated as special. Another new young person told us that Open Arms is the only place he has been able to make friends since arriving in the UK. It shows us the importance of the young people seeing the space at Pie Factory Music as relaxed and open, and which is both structured and supportive. yet also provide5 the chance for peer networks to be strengthened. Dellvery Up until April 2024, Open Arms has welcomed a total of 105 young refugees and asylum seekers durin8 our Friday sessions. Pastoral Care Programme Counselling 36 young people were referred to our counselling service 6 BACP-re8lStered, highly qualified counsellors I psychotherapists have worked with Pie Factory Music young people Young people are offered an initial 6 counselling sessions and, between them and their counsellor, the sessions may continLJe up to 12. On average, we saw young people attend between 6 and 10 sessions. -It ha5 given me o better understanding of how to deal with myfeeling5 and how grief can change your life- -It w05 just nice tofinolly hove Someone to talk to again about everything and be able to try and figure out woys that would help me.- "Help5 me to talk about how Ifeel which hos helped me control my ongryfeelings" Art Therapy Group 13 9 young people took part in the two art therapy group sessions, with one group of five and a group of four. This was delivered by an art therapist who is one of the team of 6 counsellors delivering our coun5elling offer. The two art therapy groups ran for 6 sessions. We are waiting on the outcome of a funding bid to be able to deliver a block of 12 sessions. The yOLtng people who attended the art therapy group were struggling with significant social isolation. Many of them were not able to go to school any longer, and had experienced difficulties with friendships, and with trust. Almost all the referrals for the group were neurodivergent and so the group become a safe place to explore their identities and their feelings of being 'other' The group were able to identify and name some ofthese complex feelings, and reflected on how feeling different, together with others. can be an empowering experience. The non-directive approach to art making acted as an important tool for the group members to explore their senses of autonomy. as well as to advocate for their wants and needs around art making. Through art making they were able to safely start to express their own personal thoughts and feelings. as well safely connect with others on shared theme5 and interests that arose. Through coming together in a safe and creative therapeutic space. over several weeks, the group were able to connect and share some difficult experiences with each other, and to find a sense of belon8in8 and community. Creative Interventions 18 individual young people were referred to our Creative Intervention offer 78 se55i0ns in total were accessed by youn8 people Our Creative Intervention service has proved to be very successful in the development of young people. We were able to support 18 young people with Creative Interventions including a variety of activities ranging from music and creative writing through to gardening. Food Bank The food bank is an essential part of our pastoral support for young people and their families that attend our programmes, as well as the wider community in the Thanet area. There has been an increase in demand for the food bank with 262 boxes given out, despite the Family Food bank having to reduce the number of boxes delivered each week from 15 boxes to 10 frorn the autumn of 2023. The greatest uptake of boxes was in May, Au8USt and October of 2023. as well as March 2024. Funding from The Gibbons Trust has continued to boost our provision for young people, including toiletries such as shampoo, shower gel, soap, and some small luxuries such as cinema vouchers. 14 Workforce Development In terms of our workforce, this year has been about acknowledging the ongoing challenges of the pandemic, the substantial increase in the cost of living. 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 charity and the following milestones show our progress towards this.. Reviewing policies that affect employees. mental wellbeing, including increasing the number of paid days off for bereavement and dependent5 leave, as well as acknowledging that a bereavement that impacts on an individual's life is not limited to immediate family members but includes any loss that has a significant impact Continued to allocate specific budget to staff wellbeing Through fundin8 secured from Youth Music Rechar8e, we have been able to continue to offer.. al Counselling and physical therapies for staff bl Staff socials, including Boules playing. whole team Christmas dinner, whole team event with food cl Refreshments for team lunches and meetings dl Investors in Wellbeing Silver accreditation el Mental Health First Aid Champion training Included and implemented the followin8 Outcomes in our organisational evaluation framework, enabling us to better monitor our Workforce Development: 31 Workforce.. to increase staff wellbeing and work satisfaction bl Sector.. to improve the sectorfs connectedness and collaboration Continued to facilitate the Thanet Youth Network and our training and development opportunities offer with the support of Arts Investment Fund Offered our team a Wellbeing Week Ipaid time off in the first week of the School term). The issue of the increase in cost of livin8 and the impact that would have on our staff team prompted research into and implementation of a new pay structure to alleviate some of the pressures, which was 8ratefully received by our staff team. Marketing & Communication5 Pie Factory Music's IPFMS) communications have continued to Strengthen and grow in 2023-24, working with Communications Consultant BeeBee Communications. Summary In 2023-24, the rnain focus for Pie Factory Music's communications was to sustain engagement and grow reach where possible, whilst reducin8 Costs to comms support. in light of the potential KCC funding cuts. We moved from 6.5 days of 5UPPOrt to 2.5 days when our mentee left to pursue a new comms and production role locally. It is a positive outcome of our comms approach that we were able to equip 15 the young person with the skills and experience to advance their employment after their time at Pie Factory Music (always our aiml. Comms highlights Strong first activism campaign against KCC funding cuts that garnered local 5UPPOrt, press engagement, a youth-led petition and peaceful Protest. and follow-on donations and f undraising activity by our community. Continuation of improving and enhancing systems and processes including Mailchimp data cleaning. Slice of Pie Season 2 launch of 6 new episodes Increased Press and media coverage with key moments: cuts campaign, Open Arms, Wantsum Music and Emerging Artists. Successful programme promotion including Emerging Artists gigs. Open Arms project, Bike Project and youth sessions through social. press and print, with a rise in participant numbers. Further development of e-marketing strategy, increasin8 regularity and clicks. Stats Our comms have had miKed success. with Instagram continuing to perform well1+65% reach and +64% profile visits) and clicks for our e.newsletters increasing significantly1+430AI. Google's new Analytics 4 was introduced in 2023 with key metrics changing, meaning we can compare performance against this comin8 year. Facebook has declined for PFM since the algorithm change5 in 202 1. We focLssed on Instagram as our main channel, and in 2024 deleted our X Ipreviouslv Twitter) account as we felt it no longer aligned with our charit￿5 values and wasn't performing for us. Press and media engagement We featured widely in local press acr055 a number of stories: BBC South East TV KCC cuts April 2023 BBC Radio Kent KCC cuts April 2023 Isle of Thanet New5 0 en Arms exhibition June 2023 Thanet Community Ad article Open Arms July 2023 Youth Music rassroots cuts Au8 2023 Isle of Thanet News KCC cuts rotesl Aug 2023 • Isle of Thanet News KCC cuts Aug 2023 • Isle of ThJnet News Emer in Artists Aug 2023 Isle of Thanet News Save our Youth Services Aug 2023 Isle of Thanet News Emer in Artist Nov 2023 BBC Radio Kent Open Arms film Nov 2023 Isle of Thanet O en Arms film Nov 2023 Rams ate Recorder article Feb 2024 Comms learning5 16 Focus on heightened press engagement has paid off for profile and community fundraising Met the challenges of a difficult year, retaining brand identity and comms output Reduced support hours streamlined approach trying to achieve a lot on little time, so pleasing that there has been growth Comms next steps 2024-25 New comms plan for 2024-25 Increased fundraising marketing Maximise use of e-newsletter and subscriber lists. using segmentation Brand review (current marketing materials and assets) Story and content repositioning to increase profile further and support fundraising activities Create a new model for comm5 SUPPOrt. working with University of Kent employabilitv scheme students and volunteers to build comms output and mentor emerging marketers 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 carried us through to the end of March 2024 and enabled us to continue providing essential open access youth work during these difficult and increases in the cost of living. We have had a successful year of securing further funding to enhance both our youth work programme and our music and creative arts programme. We have also been able to build on our focus on supportin8 those young people who have been severely struggling through the ongoing effects of the pandemic and lockdown by offerin8 further I:1 se55ions. creative interventions, the bike project and specialised counselling. With the decommissioning by KCC of youth services, we have proactively been seeking further funding for the new financial year in order to continue our current delivery rate without interruption, and we were Successful in achievin8 this goal with the aid of Ramsgate Town Council and John Swire Charitable Trust. Our key fundin8 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 lup 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 lup to 25 with disabilities). Youth Music Fund 8-. 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. 17 Paul Hamlyn Foundation: 3-year grant awarded for the or8anisational development of Pie Factory Music. John Swire Charitable Trust= Funding for core costs for financial year 2024125. Ramsgate Town Council.. Funding for youth provision in Thanet 2024125. Barnardo's.. Grant awarded to boost our pastoral provision of counselling, creative interventions and I'.1 sessions for young people to improve mental wellbeing. HAF Thanet- Funding awarded for extra activities. workshops, trips and Christmas hampers for young people in the Thanet area. HAF Dover.. Funding awarded for extra activities, workshops, trips and Christmas hampers for young people in the Dover area. Dover District Council: Grant awarded to boost food bank supplies and provision Bupa.. Grant to create a garden on site with young people, influenced by recyclin8 and upcycling. NHS UASC= A one-year project working with unaccompanied child asylum seekers, offering a safe space to socialise. cook, play music, dance, go on trips and carry out activitie5. NHS UA5C Cookbook.. l year project working with unaccompanied child asylum seekers to reate and publish a collaborative cookbook. YM Recharge.. A two-year grant awarded for mental health and wellbeing of PFM, MHFA Champion Training, Investors in Wellbeing, counselling, physical wellbeing, core staffing Costs to manage the project. Donations.. Gift Aid and regular support for the charity as a whole. 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 pro8ramme of events, core costs, repair5 and maintenance. Reserves Policy Introduction The Charity Commission's CC19 8uidance states: "There is no single level or even a mnge of reserves thot is rightfor all charities. Any target set by Trusteesfor the level of reserves to be held should reflect the porticular circumstonce5 of the individuol charity. To do thi5, Trustees need to know why the charity Should hold reserves ond, hoving identified those need5, the Trustees should consider how much should be held ta meet them." 18 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 are made up of unrestricted funds. Current Policy A formal policy on reserves w35 agreed at the Directors meeting held on 9, May 2￿6 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 difficultv a proportion of reserves are maintained in a readily realisable form to mitl8ate against risks as outlined in the Risk Register Risk Management The Trustee5 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 risk5, including financial provision. Should the necessity arise, 5trate8ies to increase the level of reserves are in place and are outlined in the Risk Register. 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 or8anisation's artivities. The level of the reserves 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 £146,406 bein8 Suitable to mitigate against the criteria highlighted in this policy, broken down as below: Breakdown Purpose £75,045 To cover redundancies of all staff in the event of the charity ceasing to trade £51,081 To cover three months of core team to source and secure further funding 19 To cover three months of operational costs to maintain PFM'S headquarters whilst further funding is being sourced £20.279 Reserves of £122,073 are currently set in place, with a further £15,000 allocated for this financial vear. We will fundraise during this f inancial year to reach the agreed level stated in this policy. 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-ordinatin8 the youth service provision from Ramsgate Youth Centre until suth time as the tenancy at will comes to an end to explore alternative premises options should the ending of the tenancy at will occur to use different media channels to keep stakeholders informed of the workshop programme nd youth centre provision to maintain an up-to.date website to maintain an up-to-date presence on social media, e.g., facebook, instagram to explore other avenues of income generation includin8 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 With the youth service cuts by KCC, the new financial year will see a strong emphasis on securin8 longer term core and project funds to continue providin8 an open access youth provision for young people, whilst supplementirig this with smaller more project based fundin8 sources. We will continue to strengthen our presence through publicity and via social media to raise awareness of Pie Factory Music and the new undertakings for 2024/25 in general, with a focus on the development and embedding of our provision across the board. PFM will look at expanding the income streams to incorporate and embed more music and creative arts activities, in line with our mission statement. 20 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 exploring and examining possible options for the sustainability and the continuation of the programme and to progress and promote the charity to it5 fullest potential whilst continuing to support as many young people across East Kent as possible. With continued support from the Board ofTrustees, the local Council and community members, Pie Factory Music will continue its growth and expansion in and across East Kent. Structure, Governance & Management Governing Document The organisation is a company limited by guarantee (registered 27th November 20021 with charitable status (registered 16th May 20031. 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. 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 ArticSes are known as members of the Management Committee. 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 makejudgements and estimates that are reasonable and prudent 21 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 takin8 reasonable steps for the prevention and detection of fraud and other irregularities. Members of the Management Committee Members of the management committee, who are dirertors 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 companrfs 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 Ma gement Committee on 18th October 2024 and signed on its behalf by.. Mike Fagg Chair 22 Charity r•gl$tration numb&r 1097561 Company r¢gl$tration nUM￿r 04602033 {England and Wal•sl PIE FACTORY MUSIC ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2024 PIE FACTORY MUSIC LEGALAND ADMINISTRATIVE INFORMATION Trust M Fagg J Barrett S Cant A Ismal K Ansell Secretary C (YReilly Charlty number 1097561 Company numb•r 04602033 Inde￿ndent oxamlnèr Le¥icks 3 Lltsyd R(￿d Broawm¥nt funds are subject to 5peufi¢ ¢on¢Jibons by don￿ that Ihecapital rnusl be maintained by the charity. 1.4 Inc¢)mè Income is ie¢c¥3nised when the charity Is le9ally enbtled to It after any performance condibons have been met, e amounts can be measured reliably. and rt is prOba￿e that incL)me wll t¢ re¢wved Cash donations are re¢ognised on receipt Other donations arè recognised once the chanty has been notified ofth• donation, unless performance ￿nI)I￿OnS require delerral ofthe amount Incorne tax recoverable in relab.on to donations received under Gift Ajd or deeds ol covenant Is rerA)9nised at the time ol the donation. Le9aaes arè recognised on receipt oroii)eMsè rfthe charity has been nolified of an impending distribution, the amount Is known, and r￿elp1 Is expecied If ihe ￿OUnt 15 not known. thè 109a¢y is treated as a contingent asset. PIE FACTORY MUSIC NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2024 Accounting policies IContlnu•(11 1.5 Expenditure Expenditure Is rerAgnised once thère is a legal ty cc￿stru￿ve obligation to transfer eccxK)miG benelil to a third party. It Is probable that a transfer of ec4Jnomic benefits wll ￿ required In s&tUem¢nt. and the amount ol the obligation can be measured reliably Expenditure Is ¢las$ified by acb'vity. The costs of each ￿VIty are made up of the total oldirect costs and shared ¢osis, Including support costs Involved In undenakin9 each activity Difect costs atiributable to 8 single activity are allocated direaly lo that actiwty Shared costs which contnbute lo rnore than one activity and support costs which are not attnbutable to a single activity are apportioned bewn those activities on a basis consislenl wyth the use of resources Central staff costs are alIC￿ted on the basis ol tsrne spent, and depreoatson Charges are allocated on the portion ol the asset's use 1.6 Tonglbl¢ fix•d a8s•18 Tangible Iixed asse1$ are Initially measured al cost aThJ sub5equeniiy measured at Cost or valuation, net of d¢praciation and any irnpJrment losses. Depreciation Is recognised so as to write oll the cost or valuabon of assels less their ￿S1ou31 values over their useful lives on Ihe following bases. Fixtures and filts'ngs Computers 25% ￿ cost 25% ￿ ¢o$t The gain or Ioss 8ri5ing rm the ¢Ji$posal ol an asset is delennined a5 the drffefence befvfftn the sale proceed$ and the carrying value ol the asset, and 15 recognised in the statement ol hnanoal activities. 1.7 Impalrm•nt ol flx•d a888ts Al e8Gh reporting end date. the charity reviews Ihe carrying amounts ol 11$ tangible assets to determine whether there Is any indication that Ihosè assets have suffered an Impatrment Ios5 If any such Indication exists. the recoverable amount ol the asset Is estimated In order to delerrnine the extent ol the Impairment1oss Ill any) 1.8 Cash and cash equivalents Cash and cash equivalent5 Include cash in hand. deposrts held at call wih banks. other short-term liqvid investments w1th ori9inal matunlies of three m￿lh5 or lekn, and baftk overdraft$ 8ank overdrafts are shown thin borrobmngs In current liabilibes 1.9 Finaneial in8truments The charity has ¢I￿ted to apply the provisiMs olsection 11 'Basi¢ FinancMI Instfuments, and Secbon 12'0ther Financial Instrurnents Issues. of FRS 1￿2 to all ol Its finanual instrumenis Financial 1nstruments are recogni5ed In th¢ chantys balance sheet when the charity becomes party to the contractual provisions ol the inStrUm￿t. Financial a5seiS and liabilities are offset. wlh Ihe net arnounls presented in ihe finan¢ial statements. when there is a legally enforceatAe right to set off Ihe recogni5ed amounts and there Is an Intentson lo settle on a net basis or to realise the asset and Settle the liabilty simultaneously. Baslc Ilnanclal assets Basic financial assets. which indude dèbtors and <>sh and bank balan￿8. are initially measured at transaction pri￿ inclkjding transaction cosis and are subsequently caffled at amortised ctsst using the effective Interest rnethod unless the arrangement constitutes a finanting transaction. where the transaciion Is measured at the presenl value of the future receipts discounted at a market rale of interest Financial a$5els classified as receivable within one year are not amorbsed. PIE FACTORY MUSIC NOTES TO THE FINANCIAL STATEMENTS ICONTINUED) FOR THE YEAR ENDED 5 APRIL 2024 Accountlng pollci (Continuedl Baslc financlal Ilablllties 8asic financial liabilities, Induding ¢reditors and bank loans are Initially recognised at transaction price unless the arrangement constitutes a finanang transaction, where Ihe debt Instrument Is measured atthe present value of the future payments discounted al a rnarket rate of interest Finanoal Iiab'lities classified as payable wthin one year are not amorts"5ed Debt Instruments are subsequenljy carried at arno￿$¢d cost. using the effecbve interest ral& method. Trade creditors are oNigatsons to pay for goods or services that have been acquired in the ordinary ¢our$e ol operations from suppliers. Arnounls payable are dassified as current Iiablitie5 ilpayment Is due within one year or less 11 not, they are presented as non-current liabilitie5 Trade creditors are iecognised Initially at transaction pnce and subwuentty measured ai arn￿1$¢4 ¢osi ugn9 the effethve Inlefest rneth¢)J. Dwecognltlon of finan¢l•l Ilabllliles Financial Iiabilibes are dereco9nised vthen the charity's ¢ontractual obliga*ons ex￿￿ or are discharged or cancdled 1.10 Employee benefits The cost ol any unused MK1ay entitlement 15 reoyjgnised In the perKd In bthich the 8mployee's sefvices arè receiveij Termination benefits are reC￿niSed immediately as an expense whèn the charity is dernonstrably committed to terminate th¥ employment ol an ernployee or io provide termination benefi15 Crltlcal •¢¢ountlng ••tlmate8 and Ju(1gtrmon In the appli¢ats"on ol the charrty's accwnting pjlitses. the Iwsl¢ès are required to rnake judgernen15, eslimales and assumptions about the carrying amouni ol assets and liabilities that are not readily appar•nt from other sources The estimates and associated assumptions are based On histon¢al experience And other factors that are considere¢J lo be relevant Actual resulls May diff¥r Irom these estsmates The estimates and vndedyin9 assurnpb'ons are on an onwng ba￿8 Revisions to accounting estimates are recognised in the penod in which the estimate Is revised where the revision affects only that period. or in the perK)d ol Iho r￿lS•c￿ and future period5 where tho re¥iwfM) affects tN)th current and future periods Income from donatlons and legacle• Unrestrlcted Restrlcted funds fund• 2024 2024 Total Unr•strlcted Restrfcted funds fund8 2023 2023 Totsl 2024 2023 Donations and gifts Grants received 23.967 23,967 530,291 29.349 29 349 341,386 530,291 341.386 23.967 530.291 554.258 29.349 341,3e6 370,735 PIE FACTORY MUSIC NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2024 Income from Invèstments Unrestrfcted Unrestrlcted funds funds 2024 2023 Interest r￿1Vabl¢ 1.510 Ex￿ndIture on charlloblo actlvltl•8 EX￿n$•$ 2024 Expens 2023 Dlrect costs Slam costs Project co$ts Rates and water Light and heal Repair5 and maintenance Insurarice Motor and travel costs Telephone Depr￿latson Sundry Ac¢c>untancy faes Bank charges 313,6S9 135,462 145 6.803 3.785 4.350 292.748 152.393 140SI 4.515 2,￿8 2.970 31 3,345 897 4,076 2,472 510 2.781 597 5.041 2,712 519 475,880 48e.138 Analy818 by fund Unrestrictad funds Resinct8d lunds 36,913 438.947 35.822 430.316 475.860 466.138 Ntt mov•ment In fund$ 2024 2023 The net movement in funds 1$ stated after chargintylcredibngl.. Depr8ciatson ol owned tsnyible fixèd assets 597 897 Trustees None of the tiustees lor any Fersons connecte(I them) received any remuneration or benefits from tha charity ¢Junng the year. PIE FACTORY MUSIC NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2024 Employees The average monthly number ofemptoyees duriryJ the year was.. 2024 Numbgr 2023 Numb8r Employmtnt ¢ost$ 2024 2023 Wages and salaries 313,659 292,748 There wer8 no •mployees whose annu¥ ￿MU￿ratIOn was more than £60.¢X¥) Refflunoratlon of kèy manag•ment personnel The remunerabon ol key management Fersomel was as lollows" Taxatlon The charity Is exernpt trorn ièxablx M rt$ athvibes because all its irw¢ is ap￿18￿ lor charitable purp05e5 10 Tanglbl• flxod as8•t• FLxtur•* •nd httlng• Comp¥t•r• Totsi Cos¢ Al 6 April 2023 88.352 24.295 112,847 At SApril 2024 24.295 112.647 Dèpr•clatlon and Impalrm?nt Al 6 April 2023 Depreciation charged in the year 88.352 23,470 597 111.822 $97 At 5 April 2024 88,352 24,067 112.419 Carrylng amount At 5 April 2024 228 228 At 5April 2023 825 825 PIE FACTORY MUSIC NOTES TO THE FINANCIAL STATEMENTS ICONTINUED FOR THE YEAR ENDED 5APRIL 2024 11 Debtors 2024 2023 Arnounts falllng due withln ong y•af- Trade debtors 22,227 20,e84 12 CredltOT8'. amounts falllng due wSthln one year 2024 2023 Trade rAedrtors 43.486 8.986 13 R•8trlct•d fund• The resln¢to4 funds ol the charrty Wytpnse the unexpen¢Jed balances of donats'ong ano grants hdd on trust $ubject lo specific ¢onditsons by donors as lo they may be used. At 6 Aprll 2023 Incomlng reJourc•s R•$our¢•s •xpfrnded At S Aprll 2024 Current ass￿$ 109.813 530,291 1438.947 201,157 Provlous year: At 6 Aprll 2022 In¢omlng r¢8ourc R•source8 exp•ndtrd At S Aprfl 2023 Current assets 198.743 341,386 1430,3161 109,813 14 Unre8trict•d funds The UnreStri￿ed funds ol the chanty comprise the unexpended balan￿$ ol donations and granis which are not subject to specific ¢onditions by donors and grantors as lo how they may be used. At 6 April 2023 In¢oming resources Resources xptndod At S April 2024 General funds 286.857 25.477 136.9131 275,421 10- PIE FACTORY MUSIC NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 5 APRIL 2024 14 Unrestrictèd funds Icontlnuedl Prevlous ygar= At 6 April 2022 Incofflin9 r•sourceg Rèsources expended At S Aprll 2023 General ftjnds 292,934 29,745 135.8221 286,857 15 Analy818 of not assets funds Unrestrlcted funds 2024 R￿trIcI&d fLbnds 2024 Total 2024 At 5 April 2024: Tangible assets Current a5setsllliabilitse$l 228 275,193 228 476.350 201.157 275.421 201 157 476.578 Unrns¢rlct•d funds 2023 R•8trlet•d funds 2023 Total 2023 At S Aprll 2023: Tangible assèis Current assetsllliabilitiesl 825 286.032 825 395.845 109,813 286.857 109,813 396.870 16 Related party transactlons There were no ¢Jisdosatle rd8ted party transacb.ons during the year12023- none). 11 Charity r•gl$tration numb&r 1097561 Company r¢gl$tration nUM￿r 04602033 {England and Wal•sl PIE FACTORY MUSIC ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2024 PIE FACTORY MUSIC LEGALAND ADMINISTRATIVE INFORMATION Trust M Fagg J Barrett S Cant A Ismal K Ansell Secretary C (YReilly Charlty number 1097561 Company numb•r 04602033 Inde￿ndent oxamlnèr Le¥icks 3 Lltsyd R(￿d Broawm¥nt funds are subject to 5peufi¢ ¢on¢Jibons by don￿ that Ihecapital rnusl be maintained by the charity. 1.4 Inc¢)mè Income is ie¢c¥3nised when the charity Is le9ally enbtled to It after any performance condibons have been met, e amounts can be measured reliably. and rt is prOba￿e that incL)me wll t¢ re¢wved Cash donations are re¢ognised on receipt Other donations arè recognised once the chanty has been notified ofth• donation, unless performance ￿nI)I￿OnS require delerral ofthe amount Incorne tax recoverable in relab.on to donations received under Gift Ajd or deeds ol covenant Is rerA)9nised at the time ol the donation. Le9aaes arè recognised on receipt oroii)eMsè rfthe charity has been nolified of an impending distribution, the amount Is known, and r￿elp1 Is expecied If ihe ￿OUnt 15 not known. thè 109a¢y is treated as a contingent asset. PIE FACTORY MUSIC NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2024 Accounting policies IContlnu•(11 1.5 Expenditure Expenditure Is rerAgnised once thère is a legal ty cc￿stru￿ve obligation to transfer eccxK)miG benelil to a third party. It Is probable that a transfer of ec4Jnomic benefits wll ￿ required In s&tUem¢nt. and the amount ol the obligation can be measured reliably Expenditure Is ¢las$ified by acb'vity. The costs of each ￿VIty are made up of the total oldirect costs and shared ¢osis, Including support costs Involved In undenakin9 each activity Difect costs atiributable to 8 single activity are allocated direaly lo that actiwty Shared costs which contnbute lo rnore than one activity and support costs which are not attnbutable to a single activity are apportioned bewn those activities on a basis consislenl wyth the use of resources Central staff costs are alIC￿ted on the basis ol tsrne spent, and depreoatson Charges are allocated on the portion ol the asset's use 1.6 Tonglbl¢ fix•d a8s•18 Tangible Iixed asse1$ are Initially measured al cost aThJ sub5equeniiy measured at Cost or valuation, net of d¢praciation and any irnpJrment losses. Depreciation Is recognised so as to write oll the cost or valuabon of assels less their ￿S1ou31 values over their useful lives on Ihe following bases. Fixtures and filts'ngs Computers 25% ￿ cost 25% ￿ ¢o$t The gain or Ioss 8ri5ing rm the ¢Ji$posal ol an asset is delennined a5 the drffefence befvfftn the sale proceed$ and the carrying value ol the asset, and 15 recognised in the statement ol hnanoal activities. 1.7 Impalrm•nt ol flx•d a888ts Al e8Gh reporting end date. the charity reviews Ihe carrying amounts ol 11$ tangible assets to determine whether there Is any indication that Ihosè assets have suffered an Impatrment Ios5 If any such Indication exists. the recoverable amount ol the asset Is estimated In order to delerrnine the extent ol the Impairment1oss Ill any) 1.8 Cash and cash equivalents Cash and cash equivalent5 Include cash in hand. deposrts held at call wih banks. other short-term liqvid investments w1th ori9inal matunlies of three m￿lh5 or lekn, and baftk overdraft$ 8ank overdrafts are shown thin borrobmngs In current liabilibes 1.9 Finaneial in8truments The charity has ¢I￿ted to apply the provisiMs olsection 11 'Basi¢ FinancMI Instfuments, and Secbon 12'0ther Financial Instrurnents Issues. of FRS 1￿2 to all ol Its finanual instrumenis Financial 1nstruments are recogni5ed In th¢ chantys balance sheet when the charity becomes party to the contractual provisions ol the inStrUm￿t. Financial a5seiS and liabilities are offset. wlh Ihe net arnounls presented in ihe finan¢ial statements. when there is a legally enforceatAe right to set off Ihe recogni5ed amounts and there Is an Intentson lo settle on a net basis or to realise the asset and Settle the liabilty simultaneously. Baslc Ilnanclal assets Basic financial assets. which indude dèbtors and <>sh and bank balan￿8. are initially measured at transaction pri￿ inclkjding transaction cosis and are subsequently caffled at amortised ctsst using the effective Interest rnethod unless the arrangement constitutes a finanting transaction. where the transaciion Is measured at the presenl value of the future receipts discounted at a market rale of interest Financial a$5els classified as receivable within one year are not amorbsed. PIE FACTORY MUSIC NOTES TO THE FINANCIAL STATEMENTS ICONTINUED) FOR THE YEAR ENDED 5 APRIL 2024 Accountlng pollci (Continuedl Baslc financlal Ilablllties 8asic financial liabilities, Induding ¢reditors and bank loans are Initially recognised at transaction price unless the arrangement constitutes a finanang transaction, where Ihe debt Instrument Is measured atthe present value of the future payments discounted al a rnarket rate of interest Finanoal Iiab'lities classified as payable wthin one year are not amorts"5ed Debt Instruments are subsequenljy carried at arno￿$¢d cost. using the effecbve interest ral& method. Trade creditors are oNigatsons to pay for goods or services that have been acquired in the ordinary ¢our$e ol operations from suppliers. Arnounls payable are dassified as current Iiablitie5 ilpayment Is due within one year or less 11 not, they are presented as non-current liabilitie5 Trade creditors are iecognised Initially at transaction pnce and subwuentty measured ai arn￿1$¢4 ¢osi ugn9 the effethve Inlefest rneth¢)J. Dwecognltlon of finan¢l•l Ilabllliles Financial Iiabilibes are dereco9nised vthen the charity's ¢ontractual obliga*ons ex￿￿ or are discharged or cancdled 1.10 Employee benefits The cost ol any unused MK1ay entitlement 15 reoyjgnised In the perKd In bthich the 8mployee's sefvices arè receiveij Termination benefits are reC￿niSed immediately as an expense whèn the charity is dernonstrably committed to terminate th¥ employment ol an ernployee or io provide termination benefi15 Crltlcal •¢¢ountlng ••tlmate8 and Ju(1gtrmon In the appli¢ats"on ol the charrty's accwnting pjlitses. the Iwsl¢ès are required to rnake judgernen15, eslimales and assumptions about the carrying amouni ol assets and liabilities that are not readily appar•nt from other sources The estimates and associated assumptions are based On histon¢al experience And other factors that are considere¢J lo be relevant Actual resulls May diff¥r Irom these estsmates The estimates and vndedyin9 assurnpb'ons are on an onwng ba￿8 Revisions to accounting estimates are recognised in the penod in which the estimate Is revised where the revision affects only that period. or in the perK)d ol Iho r￿lS•c￿ and future period5 where tho re¥iwfM) affects tN)th current and future periods Income from donatlons and legacle• Unrestrlcted Restrlcted funds fund• 2024 2024 Total Unr•strlcted Restrfcted funds fund8 2023 2023 Totsl 2024 2023 Donations and gifts Grants received 23.967 23,967 530,291 29.349 29 349 341,386 530,291 341.386 23.967 530.291 554.258 29.349 341,3e6 370,735 PIE FACTORY MUSIC NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2024 Income from Invèstments Unrestrfcted Unrestrlcted funds funds 2024 2023 Interest r￿1Vabl¢ 1.510 Ex￿ndIture on charlloblo actlvltl•8 EX￿n$•$ 2024 Expens 2023 Dlrect costs Slam costs Project co$ts Rates and water Light and heal Repair5 and maintenance Insurarice Motor and travel costs Telephone Depr￿latson Sundry Ac¢c>untancy faes Bank charges 313,6S9 135,462 145 6.803 3.785 4.350 292.748 152.393 140SI 4.515 2,￿8 2.970 31 3,345 897 4,076 2,472 510 2.781 597 5.041 2,712 519 475,880 48e.138 Analy818 by fund Unrestrictad funds Resinct8d lunds 36,913 438.947 35.822 430.316 475.860 466.138 Ntt mov•ment In fund$ 2024 2023 The net movement in funds 1$ stated after chargintylcredibngl.. Depr8ciatson ol owned tsnyible fixèd assets 597 897 Trustees None of the tiustees lor any Fersons connecte(I them) received any remuneration or benefits from tha charity ¢Junng the year. PIE FACTORY MUSIC NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2024 Employees The average monthly number ofemptoyees duriryJ the year was.. 2024 Numbgr 2023 Numb8r Employmtnt ¢ost$ 2024 2023 Wages and salaries 313,659 292,748 There wer8 no •mployees whose annu¥ ￿MU￿ratIOn was more than £60.¢X¥) Refflunoratlon of kèy manag•ment personnel The remunerabon ol key management Fersomel was as lollows" Taxatlon The charity Is exernpt trorn ièxablx M rt$ athvibes because all its irw¢ is ap￿18￿ lor charitable purp05e5 10 Tanglbl• flxod as8•t• FLxtur•* •nd httlng• Comp¥t•r• Totsi Cos¢ Al 6 April 2023 88.352 24.295 112,847 At SApril 2024 24.295 112.647 Dèpr•clatlon and Impalrm?nt Al 6 April 2023 Depreciation charged in the year 88.352 23,470 597 111.822 $97 At 5 April 2024 88,352 24,067 112.419 Carrylng amount At 5 April 2024 228 228 At 5April 2023 825 825 PIE FACTORY MUSIC NOTES TO THE FINANCIAL STATEMENTS ICONTINUED FOR THE YEAR ENDED 5APRIL 2024 11 Debtors 2024 2023 Arnounts falllng due withln ong y•af- Trade debtors 22,227 20,e84 12 CredltOT8'. amounts falllng due wSthln one year 2024 2023 Trade rAedrtors 43.486 8.986 13 R•8trlct•d fund• The resln¢to4 funds ol the charrty Wytpnse the unexpen¢Jed balances of donats'ong ano grants hdd on trust $ubject lo specific ¢onditsons by donors as lo they may be used. At 6 Aprll 2023 Incomlng reJourc•s R•$our¢•s •xpfrnded At S Aprll 2024 Current ass￿$ 109.813 530,291 1438.947 201,157 Provlous year: At 6 Aprll 2022 In¢omlng r¢8ourc R•source8 exp•ndtrd At S Aprfl 2023 Current assets 198.743 341,386 1430,3161 109,813 14 Unre8trict•d funds The UnreStri￿ed funds ol the chanty comprise the unexpended balan￿$ ol donations and granis which are not subject to specific ¢onditions by donors and grantors as lo how they may be used. At 6 April 2023 In¢oming resources Resources xptndod At S April 2024 General funds 286.857 25.477 136.9131 275,421 10- PIE FACTORY MUSIC NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 5 APRIL 2024 14 Unrestrictèd funds Icontlnuedl Prevlous ygar= At 6 April 2022 Incofflin9 r•sourceg Rèsources expended At S Aprll 2023 General ftjnds 292,934 29,745 135.8221 286,857 15 Analy818 of not assets funds Unrestrlcted funds 2024 R￿trIcI&d fLbnds 2024 Total 2024 At 5 April 2024: Tangible assets Current a5setsllliabilitse$l 228 275,193 228 476.350 201.157 275.421 201 157 476.578 Unrns¢rlct•d funds 2023 R•8trlet•d funds 2023 Total 2023 At S Aprll 2023: Tangible assèis Current assetsllliabilitiesl 825 286.032 825 395.845 109,813 286.857 109,813 396.870 16 Related party transactlons There were no ¢Jisdosatle rd8ted party transacb.ons during the year12023- none). 11