| Page | |||||
|---|---|---|---|---|---|
| Trustees' annual report (incorporating |
the | director's | report) | ||
| Independent examiner's report to the |
trustees | 10 | |||
| Statement offinancial activities |
(including | income and | |||
| expenditure account) |
|||||
| Statement offinancial position |
|||||
| Statement ofcash flows |
13 | ||||
| Notes to the financial statements | 14 |
| Registered | charity | name | name | More Music in Morecambe | More Music in Morecambe | ||||
|---|---|---|---|---|---|---|---|---|---|
| Charity registration | number | 01097929 | |||||||
| Company | registration | number | 04189582 | ||||||
| Principal office and | registered | 13-17Devonshire | Road | ||||||
| office | Morecambe | ||||||||
| Lancashire | |||||||||
| LA3 1QT | |||||||||
| The trustees | MrSVarden | ||||||||
| Mrs E Neat | |||||||||
| Mr S Ud-Din | |||||||||
| Ms L Zawadzki | |||||||||
| Ms A Quigley | |||||||||
| Ms F Levy | (Resigned | 7 November | 2022) | ||||||
| Mrs A Stokes | |||||||||
| Ms H Prest | (Appointed | 6June 2023) | |||||||
| Mr P Colley | (Appointed | 6June 2023) | |||||||
| Ms G Sommerville | (Appointed | 6 June 2023) | |||||||
| Ms M Barraclough | (Appointed | 6June 2023) | |||||||
| Company | secretary | Kathryn MacDonald |
|||||||
| Independent | examiner | Phillip Dennison | ACA FCCA | ||||||
| 20 Mannin Way |
|||||||||
| Lancaster Business Park | |||||||||
| Caton Road | |||||||||
| Lancaster | |||||||||
| LA1 3SW |
| 2023 | 2022 | ||||||
|---|---|---|---|---|---|---|---|
| Unrestricted | Restricted | ||||||
| Note | funds f |
funds | Total funds E |
Total funds | |||
| Income and endowments | |||||||
| Donations and legacies |
5 | 7074 | 1,134 | 8,209 | 6,162 | ||
| Charitable activities |
6 | 255,304 | 347,860 | 603,164 | 610,040 | ||
| Other trading activities |
7 | 35,051 | 35,051 | 21,921 | |||
| Investment income |
8 | 177 | 177 | 25 | |||
| Other income | 9 | 27,904 | 27,904 | 21,140 | |||
| Total income | 325,510 | 348,994 | 674,505 | 659,288 | |||
| Expenditure | |||||||
| Expenditure on raising funds: |
|||||||
| Costs of raising donations | and | ||||||
| legacies | 10 | 5,400 | 5,400 | 8,150 | |||
| Expenditure on charitable |
activities | 11 | 307,725 | 311,428 | 619,153 | 540,096 | |
| Total expenditure | 313,125 | 311,428 | 624,553 | 548,246 | |||
| Net income and net movement | in | funds | 12,385 | 37,566 | 49,952 | 111,042 | |
| Reconciliation offunds |
|||||||
| Total funds brought forward |
270,326 | 42,610 | 312,936 | 201,895 | |||
| Total funds carried forward | 282,711 | 80,176 | 362,887 | 312,936 |
| 31 March | 2023 | |||||
|---|---|---|---|---|---|---|
| 2023 | 2022 | |||||
| Note | F | |||||
| Fixed assets | ||||||
| Tangible fixed assets | 18 | 308,994 | 224,224 | |||
| Current assets | ||||||
| Bar stock for | resale | 19 | 692 | 721 | ||
| Debtors | 20 | 40,306 | 38,390 | |||
| Cash at bank | and in | hand | 245,676 | 245,994 | ||
| 286,674 | 285,105 | |||||
| Creditors: amounts | falling | due within one year | 21 | 210,885 | 171,508 | |
| Net current | assets | 75,789 | 113,597 | |||
| Total assets | less current | liabilities | 384,783 | 337,821 | ||
| Creditors: amounts | falling | due after more than one year | 22 | 21,896 | 24,885 | |
| Net assets | 362,887 | 312,936 | ||||
| Funds ofthe charity | ||||||
| Restricted funds | 80,176 | 42,610 | ||||
| Unrestricted | funds | 282,711 | 270,326 | |||
| Total charity | funds | 26 | 362,887 | 312,936 |
| Year ended 31 March | 2023 | |||
|---|---|---|---|---|
| 2023 f |
2022 | |||
| Cash flows from operating | activities | |||
| Net income | 49,952 | 111,042 | ||
| Adjustments for: |
||||
| Depreciation oftangible fixed assets |
13,576 | 12,980 | ||
| Other interest receivable and similar income |
(177) | (25) | ||
| Interest payable and similar |
charges | 2,219 | 1,413 | |
| Accrued expenses | 10,042 | 13 | ||
| Changesin: | ||||
| Bar stock for resale | 29 | (721) | ||
| Trade and other debtors | (1,807) | (18,630) | ||
| Trade and other creditors | 36,193 | 17,184 | ||
| Cash generated from operations |
110,027 | 123,256 | ||
| Interest paid | (2,219) | (1,413) | ||
| Interest received | 177 | 25 | ||
| Net cash from operating activities |
107,985 | 121,868 | ||
| Cash flows from investing | activities | |||
| Purchase oftangible assets | (98,347) | (39,115) | ||
| Net cash used in investing activities |
(98,347) | (39,115) | ||
| Cash flows from financing | activities | |||
| Proceeds from borrowings | (9,956) | (15,247) | ||
| Net cash used in financing activities |
(9,956) | (15,247) | ||
| Net (decrease)/increase in |
cash and cash | equivalents | (317) | 67,506 |
| Cash and cash equivalents | at beginning | ofyear | 245,994 | 178,488 |
| Cash and cash equivalents | at end ofyear | 245,676 | 245,994 |
| value, over the useful econo | mic life ofthat asset |
as fo |
|---|---|---|
| Freehold property |
2% straight | line |
| Plant and machinery | 20%straight | line |
| Fixtures and fittings | 20%straight | line |
| 5. | Donations | and legac | ies | |||
|---|---|---|---|---|---|---|
| Unrestricted | Restricted | Total Funds | ||||
| Funds F |
Funds F |
2023 f |
||||
| Donations | ||||||
| Donations | 7,074 | 1,134 | 8,209 | |||
| Unrestricted | Restricted | Total Funds | ||||
| Funds f |
Funds f |
2022 f |
||||
| Donations | ||||||
| Donations | 6,162 | 6,162 | ||||
| 6. | Charitable | activities | ||||
| Unrestricted | Restricted | Total Funds | ||||
| Funds | Funds f |
2023 f |
||||
| Grants and | contracts | 117,529 | 347,860 | 465,389 | ||
| Fees for workshops, | classes and performances | 65,134 | 65,134 | |||
| Partnership | income | 72,641 | 72,641 | |||
| 255,304 | 347,860 | 603,164 | ||||
| Unrestricted | Restricted | Total Funds | ||||
| Funds | Funds | 2022 | ||||
| Grants and | contracts | 237,173 | 267,284 | 504,457 | ||
| Fees for workshops, | classes and performances | 46,111 | 46,111 | |||
| Partnership | income | 59,472 | 59,472 | |||
| 342,756 | 267,284 | 610,040 |
| Unrestricted | Total Funds | Unrestricted | Total Funds | |||
|---|---|---|---|---|---|---|
| Funds f |
2023 f |
Funds f |
2022 F |
|||
| Ticket sales | 12,036 | 12,036 | 9,586 | 9,586 | ||
| Bar takings | and merchandise | 6,894 | 6,894 | 3,971 | 3,971 | |
| Venue and | equipment | hire | 16,121 | 16,121 | 8,364 | 8,364 |
| 35,051 | 35,051 | 21,921 | 21,921 |
| Unrestricted | Total Funds | Unrestricted | Total Funds | ||||
|---|---|---|---|---|---|---|---|
| Funds | 2023 f |
Funds E |
2022 F |
||||
| Bank interest | 177 | 177 | 25 | ||||
| 9. | Other | income | |||||
| Unrestricted | Total Funds | Unrestricted | Total Funds | ||||
| Funds | 2023 | Funds | 2022 | ||||
| E | F | E | |||||
| Management, | service and technical | ||||||
| fees | 21,547 | 21,547 | 17,425 | 17,425 | |||
| Sundry | income | 6,357 | 6,357 | 3,715 | 3,715 | ||
| 27,904 | 27,904 | 21,140 | 21,140 |
| Unrestricted | Total | Funds | Unrestricted | Total | Funds | |||
|---|---|---|---|---|---|---|---|---|
| Funds | 2023 | Funds | 2022 | |||||
| Other | fundraising | costs | 5,400 | 5,400 | 8,150 | 8,150 |
| 11. | Expenditure | on c | haritab | le | a | ctivities by fund ty |
pe | ||
|---|---|---|---|---|---|---|---|---|---|
| I | |||||||||
| Unrestricted | Restricted | Total Funds | |||||||
| Funds | Funds | 2023 | |||||||
| E | E | ||||||||
| Freelance project | workers | 94,804 | 55,110 | 149,914 | |||||
| Staff costs | 38,866 | 91,927 | 130,793 | ||||||
| Hospitality costs |
10,109 | 8,273 | 18,382 | ||||||
| Travel costs | 11,584 | 7,616 | 19,200 | ||||||
| Technical and production | costs | 7,736 | 1,235 | 8,971 | |||||
| Other direct | costs | 343 | 4,707 | 5,050 | |||||
| Support costs | 144,283 | 142,560 | 286,843 | ||||||
| 307,725 | 311,428 | 619,153 | |||||||
| Unrestricted | Restricted | Total Funds | |||||||
| Funds | Funds | 2022 | |||||||
| Freelance project | workers | 92,450 | 22,457 | 114,907 | |||||
| Staff costs | 44,847 | 91,855 | 136,702 | ||||||
| Hospitality costs |
5,634 | 1,950 | 7,584 | ||||||
| Travel costs | 7,346 | 2,771 | 10,117 | ||||||
| Technical and production | costs | 8,958 | 8,958 | ||||||
| Other direct | costs | 94 | 3,335 | 3,429 | |||||
| Support costs | 146,075 | 112,325 | 258,399 | ||||||
| 296,446 | 243,651 | 540,096 | |||||||
| 12. | Analysis of | support costs | |||||||
| Total 2023 | Total 2022 | ||||||||
| Staff costs | 161,127 | 150,460 | |||||||
| Premises | 47,945 | 31,527 | |||||||
| Communications | and IT | 6,481 | 9,213 | ||||||
| General office | 6,265 | 3,563 | |||||||
| Governance | costs | 24,463 | 22,570 | ||||||
| Publicity and |
website costs | 11,382 | 9,121 | ||||||
| Depreciation | 13,576 | 12,979 | |||||||
| Consultancy | and | professional | fees | 9,288 | 13,840 | ||||
| Other costs | 6,316 | 5,126 | |||||||
| 286,843 | 258,399 | ||||||||
| 13. | Net income | ||||||||
| Net income | is stated after | charging/(crediting): | |||||||
| 2023 | 2022 | ||||||||
| F | |||||||||
| Depreciation | oftangible | fixed | assets | 13,576 | 12,980 |
| Independent | examinatio | n fees |
|||
|---|---|---|---|---|---|
| 2023 | 2022 | ||||
| Fees payable | to the independent | examiner for: | |||
| Independent | examination | ofthe | financial statements | 1,100 | 1,248 |
| Other financial services | 1,294 | 2,444 | |||
| 2,394 | 3,692 |
| Staff costs | |||||
|---|---|---|---|---|---|
| The total staff costs and | employee | benefits for the reporting | period | are analysed as | follows: |
| 2023 f |
2022 F |
||||
| Wages and salaries | 285,233 | 280,567 | |||
| Social security costs | 16,892 | 15,917 | |||
| Employer contributions | to pension | plans | 8,563 | 8,142 | |
| 310,688 | 304,626 |
| Tangible fixed assets | ||||
|---|---|---|---|---|
| Musical | Fixtures, | |||
| instruments | fittings and | |||
| Freehold | and | office | ||
| property | equipment | equipment | Total | |
| E | F | |||
| Cost | ||||
| At 1 April 2022 | 646,159 | 107,736 | 125,037 | 878,932 |
| Additions | 98,095 | 251 | 98,346 | |
| At 31 March 2023 | 744,254 | 107,987 | 125,037 | 977,278 |
| Depreciation | ||||
| At 1 April 2022 | 466,159 | 80,858 | 107,691 | 654,708 |
| Charge for the year | 4,000 | 5,929 | 3,647 | 13,576 |
| At 31 March 2023 | 470,159 | 86,787 | 111,338 | 668,284 |
| Carrying amount |
||||
| At 31 March 2023 | 274,095 | 21,200 | 13,699 | 308,994 |
| At 31 March 2022 | 180,000 | 26,878 | 17,346 | 224,224 |
| 19. | 31st March 2 Stocks |
017and the Trustees were ofthe opinion t | hat the 6200,000was reasonab | le. |
|---|---|---|---|---|
| 2023 | 2022 | |||
| E | ||||
| Finished goods and goods for resale | 692 | 721 | ||
| 20. | Debtors | |||
| 2023 | 2022 | |||
| E | ||||
| Trade debtors | 21,059 | 19,002 | ||
| Prepayments | and accrued income | 19,247 | 19,388 | |
| 40,306 | 38,390 |
| Creditors: amounts f |
alling due within one year | ||
|---|---|---|---|
| 2023 | 2022 | ||
| Bank loans and overdrafts | 3,670 | 10,637 | |
| Trade creditors | 50,181 | 22,165 | |
| Accruals and deferred | income | 150,688 | 132,736 |
| Social security and other taxes | 5,556 | 5,370 | |
| Other creditors | 790 | 600 | |
| 210,885 | 171,508 |
| 2023 | 2022 |
|---|---|
| f | |
| 21,896 | 24,885 |
| 2023 | 2022 | |||
|---|---|---|---|---|
| f | E | |||
| At 1 April 2022 | 115,468 | 117,807 | ||
| Amount | released | to income | (115,468) | (117,807) |
| Amount | deferred | in year | 123,269 | 115,468 |
| At 31 March 2023 | 123,269 | 115,468 |
| Unrestricted | funds | ||||
|---|---|---|---|---|---|
| At | At | ||||
| 1 April 2022 | Income Expenditure | 31 March 2023 | |||
| E | E | F | |||
| Lancaster City Council —SLA |
12,500 | (12,500) | |||
| Arts Council England —NPO | 107,552 | (107,552) | |||
| Garfield Weston | 15,000 | (15,000) | |||
| Fixed assets | 193,940 | 41,092 | (5,214) | 229,818 | |
| Other general | funds | 76,386 | 149,366 | (172,859) | 52,893 |
| 270,326 | 325,510 | (313,125) | 282,711 |
| At | At | |||||
|---|---|---|---|---|---|---|
| 1 April 2021 | Income | Expenditure | 31 March 2022 | |||
| F | E | |||||
| Lancaster City Council —SLA |
12,100 | (12,100) | ||||
| Arts Council England —NPO | 107,552 | (107,552) | ||||
| HMRC | CJRS | 7,071 | (7,071) | |||
| Cultural | Recovery | Fund | 95,450 | (95,450) | ||
| Garfield | Weston | 15,000 | (15,000) | |||
| Fixed assets | 182,111 | 19,958 | (8,129) | 193,940 | ||
| Other general funds | 807 | 134,873 | (59,294) | 76,386 | ||
| 182,918 | 392,004 | (304,596) | 270,326 |
| Restricted funds | |||||||
|---|---|---|---|---|---|---|---|
| At | At | ||||||
| 1 April 2022 | Income Expenditure | 31 | March 2023 | ||||
| F | E | ||||||
| Donations | 2,783 | 1,134 | (1,200) | 2,717 | |||
| Revenue grants Youth Music —Fund 'C' |
149,966 | (149,966) | |||||
| Lancaster City Council |
41,881 | (41,881) | |||||
| Spirit 2012 | 6,498 | 36,197 | (42,965) | ||||
| FC Scott | 3,828 | 8,750 | (12,578) | ||||
| DWP —Kickstarter | 2,170 | (2,170) | |||||
| Bay Medical Group | 30,849 | (30,849) | |||||
| Morecambe Town Council |
—CTW | 2,000 | (2,000) | ||||
| Morecambe BID —CTW |
1,000 | (1,000) | |||||
| Morecambe Population |
Health | 18,927 | (18,927) | ||||
| Capital grants | |||||||
| Arts Council England | 5,516 | (2,757) | 2,759 | ||||
| Youth Music | 3,713 | (949) | 2,764 | ||||
| VO Skelton | 498 | (310) | 188 | ||||
| West End Millom | 152 | (115) | 37 | ||||
| Spirit of2012 | 784 | (200) | 584 | ||||
| Children in Need |
18,838 | (3,831) | 15,007 | ||||
| Lancashire Environmental |
Fund | 30,000 | 30,000 | ||||
| Walney Trust | 24,120 | 24,120 | |||||
| Bruce Wake | 2,000 | 2,000 | |||||
| 42,610 | 348,994 | (311,428) | 80,176 | ||||
| At | At | ||||||
| 1 April 2021 | Income | Expenditure | 31 | March 2022 | |||
| F | |||||||
| Donations | 3,983 | (1,200) | 2,783 | ||||
| Revenue grants Youth Music —Fund 'C' |
164,956 | (164,956) | |||||
| Lancaster City Council | 5,000 | (5,000) | |||||
| Spirit of2012 | 56,436 | (49,938) | 6,498 | ||||
| FC Scott | 14,192 | (10,364) | 3,828 | ||||
| DWP —Kickstarter | 5,543 | (5,543) | |||||
| CVS | 2,000 | (2,000) | |||||
| Capital grants | |||||||
| Arts Council England | 8,273 | (2,757) | 5,516 | ||||
| Youth Music | 4,662 | (949) | 3,713 | ||||
| VO Skelton | 808 | (310) | 498 | ||||
| West End Millom | 267 | (115) | 152 | ||||
| Spirit of2012 | 984 | (200) | 784 | ||||
| Children in Need |
19,157 | (319) | 18,838 | ||||
| 18,977 | 267,284 | (243,651) | 42,610 |
| toilet developm | ent. | ||||||||
|---|---|---|---|---|---|---|---|---|---|
| The remaining | fixed | asset funds carried forward | represent | the cost of | equipment | purchased with |
|||
| the respective | revenue | grants, less the depreciation | charge | in relation | to these assets. | ||||
| Analysis of net assets between funds | |||||||||
| Unrestricted | Restricted | Total Funds | |||||||
| Funds | Funds | 2023 | |||||||
| F | |||||||||
| Tangible fixed | assets | 229,818 | 79,176 | 308,994 | |||||
| Current assets | 162,405 | 124,269 | 286,674 | ||||||
| Creditors less | than | 1 year | (87,616) | (123,269) | (210,885) | ||||
| Creditors greater than | 1 year | (21,896) | (21,896) | ||||||
| Net assets | 282,711 | 80,176 | 362,887 | ||||||
| Unrestricted | Restricted | Total Funds | |||||||
| Funds | Funds | 2022 | |||||||
| E | |||||||||
| Tangible fixed | assets | 193,940 | 30,284 | 224,224 | |||||
| Current assets | 165,202 | 119,903 | 285,105 | ||||||
| Creditors less | than | 1 year | (63,389) | (108,118) | (171,507) | ||||
| Creditors greater than | 1 year | (24,885) | (24,885) | ||||||
| Net assets | 270,868 | 42,069 | 312,936 |
| Analy | sis ofchang | es in net debt |
|||
|---|---|---|---|---|---|
| At | |||||
| At 1 Apr 2022 | Cash flows | 31 Mar 2023 | |||
| F | F | ||||
| Cash | at bank and | in hand | 245,994 | (318) | 245,676 |
| Debt | due within one year | (10,637) | 6,967 | (3,670) | |
| Debt | due after one | year | (24,885) | 2,989 | (21,896) |
| 210,472 | 9,638 | 220,110 |