COMPANY REGISTRATION NUMBER: 04189582 CHARITY REGISTRATION NUMBER: 01097929 NofeMuSIc More Music in Morecambe Company Limited by Guarantee Unaudited Financial Ststements 31 March 2024
More Music In Morecambe Company Limited by Guarantee Financial Ststements Year ended 31 March 2024 Page Trustees, annual report (incorporating the director's reporti Independent examiner's report to the trustees 11 Statement of financial activilies (including income and expenditure accounl) ststement of financial posilion 12 13 Statement of Cash flows 14 Notes to the financial ststements 15
More Music in Morecambe Company Limited by Guarantee Trustees. Annual Report {Incorporating the Director's Report) Year ended 31 March 2024 The trustees. who are 81s0 the diredors foi the purposès of eompany law. present their report and the unaudited financial statements of the charity foi the ye8r ended 31 March 2024. Referet)ce and administrativè details RegF5tered eharity name More Music in N4oreeAmbe Charity registration number 01097929 Company reglstratlon number 04189582 Prirt¢lpal officè and r•yister¢d 13-17 Devonshire Road Morecarnbe L8nC8shire LA3 1QT The trustees Ms H Prest Ms G Sommerville Ms M Barraclough (Appointed 6 June 20231 (Appoinled 6 June 20231 (Served from 6 June 202310 14 December 20231 (Served frorn 6 June 2023 to 18 Ociober 20231 Mr P Colley Mr S Varden Mrs E Neat Mr S Ud-Din Mr3 L Zawadzki ICh8ir} Mrs A Quiglgy Mrs A Stokes Company secretary Kathryn MacDonald {Resigned 31 M8r¢h 20241 Indèpèndant examlnèr Philllp Dennlson ACA FCCA 20 Mannin Way L8ncaster Business Park Calon Road Lancaster LA1 3SW
More Music in Morecambe Company Limited by Guarantee Trustees, Annual Report {Incorporating the Directorfs Report) l¢trntinithdl Year ended 31 March 2024 Structure, govemanee and management More Musi¢ in Moiecambe is a company limited by guarantee governed by 11$ Mem(xandum and Articles ofAssociion dated 29th March 21 Mere Music is constiluled 83 a charitable tru31 registered with the Charity Cornm10 on 10th June 2003 under Charity number 01097929 The Directors of the ¢h8ritable company he Charity) are ils Trustees for the purposes of ChaTily Law The Truslèos and offi¢trr$ serving during lh¢ year are delailgd above. Recruitment and appointrnenl of Trustees.. The existing trustees are sponSible for the recrLlment of new trustees. In selecting new Iruslees, we seek lo identify Ople who h8ve an awareness and vndÈrst8nding of the Charity in 115 broadest sense. The Trustees seek to ensure that the needs of the various groups engaged in the activities of More Music are appropTh8lely reflected through the diveisty of the trustee body. Trustees are recruited though an open application process opportunities are advertised through funders, sector support agencies and More Music 's website and social me(fia channels, 8pplicants who meet the selection criteria are interviewed by a panel comprising trustees and Mo Music staff. Successful candidates ore knvlled to attend Ihe truslees, meellngs 8$ observers once they have been provided with lurther information of the charitys aims and activities, and ff all agree they are then proposed as new Itustèes at the subsequent meeting Followrng 8ppoinlment there is an induction process in which new Iiustèes are brièfèd on their legal obligations under Gharitable law. Trustees are given copies of the trust deed and a guide to the policies and procedures adopted by the Charity. Addillonally, a number of publications trom the Charity Commission 8re also provided including the guidance on charities and Publ benefit. This ensures that new trustees are aware of the 5(x)pe of their rèsponsibililies under the Charities Act. Relaled Parties.. None of our Iruslees receive remuneration ot other benefil from their work with the Charf¢y. Trustees area able lo claim expenses for travel. They can also receive payment for other work when approprialtr rfthis is dec18red and approved by the othtsr trustees. Risk Management: The Trustees have assesse<l the rlsks the charSly faces and a satisfied that there are systems in place or 8rr3ngemenls in hand lo manage thè risks that have been idenlbfied. The risk management strategy comprise8 '. . An on-going review of the risk the charity may face . The establishment of Systems and procedLwes to mitigale those risks identified Sn Ihe pkn Financial risks are rninimised intem8lly by the imptemènlation of procedures for aulhorisation of all trans8Ctions and projects .
More Muslc In Morecambe Company Limited by Guarantee Trustees, Annual Report (Incorporating the Director's Report) (¢Onllnu8dl Year ended 31 March 2024 A key element in the management ol financial Tisk is a reserve fund. which has been achieved. Insurance cover is in place. Appropriate Disclosure and Barring IDBS) checks supported by regularfy reviewed policies and training for all staff. All policies are reviewed regularly lo ensure that they rneel the needs of the Charity and a compliant with changing legislation. Org8nisalion81 Structure- The charily's trustees are responsible lor the strategic direction and policy of the Charity. The Trustees meet quarterty to assist in the smooth running of the worf(. There is a finance sub-cornrnittee. which Meets quarterly and reports bac with its recommendations foi the full mÉeting$ of the Tru51ees. Addilion8lly, trusteès arÉ involved in specific task and finish groups or attached 10 51aff teams for particular areas for development as the Environmental Action Plan or the Equality, Inclusion and Diversity pkin. Day to day responsibility lor the administration and provision of seTVtces has been delegated to the Execulive Director. An effedive line man8gemenl and apprais81 syslem en5ur&s that staff are managed strictty in ac£ord8nce wlh the Charity's policies and procedures and that the leadership is aware of the trainiNJ and developmonlal neèds of the $tsff. Sènior staff are accounlable to the trustees and Iheir perfom8n¢e monilore(18nd appraised by Iruslees.
More Music in Morecambe Company Limited by Guarantee Trustees, Annual Report (Incorporating the Director's Report) (¢onUnuedl Year ended 31 March 2024 Objectives and actlvltles The objectives ol the d)arity as set out in the organisation's Memorandum of Association are lo- Promote the advancement of public edu¢81ion in re181ion to music and re181ed arts throughout the UK particularly Lan¢8shire'. Provide opportunities for people of all ages, inc1J1ng those who are disabled nor who have sp8ei81 needs to experience. enjoy and perfomi music. More Music has 8 general alm to contribute to life throughout LarrAshire. Each year our twstees review our objectives and activities to ensure they continue to reftect our aims. In carrying out this review have considered the Charity Commission's guidance on public benefrt and when planning our future adivitie8. How Our ActNities Deliver Public Benefit.. The charbty carried out a wide range of activities in pursuance of its charitable aims. The Iruslees consider that these activiti8s summarised below. provide benefrt to those whom we work directly and to thè wder public. More Music is a valuable educational, recreational, community resource lo the local populallon. More Music is a community music education charity based in the wesl end of Morecambe Lanc8shire. The charity is one of the most highty regarded community music organisations in the UK, offering a year-round programme, which ¢overs a breadth of music making that involves and welcomes people of all ages, all abilit$ and all bad(grounds. In 2023 we lebrated our 30th anniversary, and continue lo deliver successful. inclusive projects whl¢h demonstrate imagination, partnership, flexSbi1Sty and eonnectlon to communities. Our soaety 1$ Tiven with inequality of opportunty and where access to the arts is polarised along class and social that rèinforce difference. We believe Ihat the power ol consumerism, a lack of awareness of global issues and social inequalities drNe individualism rather than communty cohesion. This trend seems lo be wwsening a8 the costs of living and inflation Continue to rfse. Our vision is a socjely where acce56 lo and engagement with the arts and cullurtr Iransfomi lives and communities. Our mission Is to build confidence and spirit in individuals and communities through creatsve arts tivities, particularfy rnusi Stratègic report The lollowing sections for achievemenls and perform8nce and financial rewew fomi the strateglc report of the charity.
More Music in Morecambe Company Limited by Guarantee Trustees. Annual Report (Incorporatlng the Dlrector's Report) (¢onfrnuedJ Year ended 31 March 2024 Aehievtments and perfomianee This year began wrth a focus On delivering the next three years ol Arts Council England IACEI and the new Youth Music IC8lalyserl fundtng. This has entailed underslanding the new reporiing mechanisms, the new 10015 for data collection and audience development while addressing the management ol the organisalion in the context of ACE'5 expectations for trustee engagement with NPO organisalions. There is logic, Iherefore in aligning and defining our activity in terms of the plan5 submitted to Arts Counal England and YoLrth Music as part of the applicalion process and created in response lo ACE'S Investment Prinaples The context in whh we are working remains ch8llenging, not kasl because of standstill funding from Arts CounGil England. Lancaster City Counal and a signific2nt reduction from Youth Music which has tapered from £160k lo £86k due lo a ¢h8nge in their grant making strategy. A new 3-year scheme, Catalyser h85 been introdUd lo replace Fund C, a much sm8ller fund dèsignÉd to facilitale a more equitable distribution of resources. Consequently, the funding landscape has been drfficult to navigate this year desplte muth effort and nvestment in fundraising. We achieved 63 percenl of all applications submitted, although this was not enough to prevent us closing the year with a deficit. Unexpected issues with the building and repairs lo the lift have atso Contributed to Ihls sttuallon. On reflection. trying lo close the fund&ng gap rather than implementing an organisation restructure or cutting prograrnrne was difficult, however there were some very promising, hopeful opportunities e.g. UKSPF Levelling Up funding, which were not realised. Additionally, we have continued lo work against a backdrop ot poverty. poor mental and physical health, and low aspiration. This has only strenglhened our resolve to make positive change for the people who live in our community in terms of wellbeing and life chanS with innov81ion, ingenuity and crea11¢y. Desplte this we have continued lo deliver 8 vast programme of inclusive work of the highest quality aligned to ACE'S Investment principle5'. Environment81 Responsibilty, Inclusion and Relevance. Ambilion and Quality, Dynamism. We have established and maintained inspirational partnerships and excellent artistic projed$ that support cultural development and interaction. We have continued lo provide employment for dozens of local people and provided increased accessible opportunities for people across the social spectrum includin9 people from diverse communitses. cultures and disabled and neurodiverse people. We have continued lo improve employability for 8rt1sls. arts managers and especially young people through the leaching and sharing of soci81, music81. dlgilal atxl professional skills and through meaningful opportunities for work experience. Environmental Responsiknlity.. The new ACE focus on ènvironméntal responsibility has given us a real platfomi on which to prOe$S our environment81 work, whi¢h has long been a feature of our programme. This is particularly the ase wth our local fesliv815, That Spring Thing, Catch thè Wind and the Winter Lantern Festival, which are signrficant commun¢ty events which brTng people together lo enjoy excellent music, creative workshops, food and Sha cuStvral experien¢es which celebrate the natural world.
More Music in Morecambe Company Limited by Guarantee Trustees. Annual Report (Incorporating the Director's Report} {coftthiuedJ Year ended 31 March 2024 More Music has an environmental respon$ibilily o¢tion plan, a robusl wlicy, and a team ¢omprisÈd of staff members and a Iruslee whts mèet Iwiee yearly lo review the plan, policy artd monitor the OTganisation's progress to reducing its climate and environmental impact. G8rbon Litera¢y Training for the staff le8m, Iruslees and partner organi5alions was delivered by Ergon Theatre company. Moig Musi¢ is a founder organisation in LANDS (Lancashire Arts Nelwork for Developing Suslainabiltyl a vit81 prograrnme of climate action. engagement. advocacy and support for Lancashire artists and arts tsrg8nisations. Its aim is lo deliver Clirnale Justice by working together as a sector lo address the unequal impact of the clirnate crisis and foster a suslainable ueative community. Catch the Wind kSle festival celebrated ils 20th year in June. The event has always focused on Ihe natural world, the auty of the bay and sustainable activity. This year we dèlivèred the whole feslival thoul power, all music and perfomiances were delivered acoustlty 8nd WOTk$hops used recycled and low impact maleiials. Musi¢ was provided by str1 b¥nds only and included p$rformances about the climate emergency frorn Marcus Vergette, sculptor and eator of the national Time and Tide Bell inlliative. while an inslallalion by Sound Intervention along the Stone Jetty hamessed and eCted the sounds of the wind, the sea and bird life. Baylighl, a light festival held in Morecambe in February. commissioned More Music lo create an installation for the three evenings of the event in the WThnter Gardens. Ashley Murphy made an inspiring and beautiful hand drawn animalion, which filled the cavernous ceiling ol the Victorian theatre with the birds ol Morecambe Bay. Audience members were encouraged to become 'lwitchers", and to identify the birds using resources provided by Bay Blue Piinl foi Recovery, edu¢alional partners in the Project. Flights Of Passage, a 30 year old song cycle about the birdlile of the bay, composed by Pete Moser was repiised and performed 3 tlmes each evening by a sm811 band of musicians and singers interspersed with a new soundtrack, composed by L&ioy Lupton. This beautiful medi18tive, low-fi pÉec6 was in stark contrast lo the vibrant, illuminatèd high tech, high-c05t inslallations, featuring predominantly across the event. Sirdsong offered a wonderful large-scale opportunity foi Ashley lo build skills he has been developing for a number of years and enabled More Music to reach vast numbers ofpeople who might never have previously experierttd our work. Indusion and Relevan¢è'. In October 2023 we proudly marked our 30th anniversary with a set of alumni case studies. a weekend of music, dancing and a community celebration which looked backwards, referencing Morè Musirfs history. with a presentation of photos and songs from founder Pete Moser, and then foardS with Ferformances by our young people and a new music video. More Music has continued to lead on music delivery in SEND schoDls across the county. as part of our work with Lancashire Mtjsic Hub and on the SEND working party, which is improvin9 practice and increasing opportunity for children of all abilities. This has included the development of a new project supporting 8 young, talented disabled musician, Olwer Cross, working alongside More Music musician. Leroy Luplon. to cre8te an improvi$ali¢>nal ensemble in a SEND school. Additionally, we have contributed to the developrnent of the sedoi, organising and hosting inspirational Iraining for le8¢her$ 8nd musicians working within Ihe Hub including an introduclN)n lo an accessible instrument library wlth Ben Sellers. January 271h is Holocaust Memorial Day the internalional day which remembers the 6 million Jews murdered during the HoloeAUSt. alongside the millions of petsple murdèred under Nazi persecution of other groups and during more recent genocides in Cambodia, Rw8nda, Bosnia and Darfur. For Ihe past eight years, More Music has facililated a multi-cultural, mulli-failh group to curate the local programme. Always a very sensitive and emotional oceasion, this year was particularly because of the war in Gaza, and the difficullies of presenting an event that respe¢led the commemorotion of hlstorical events vthilè recogni5ing the ¢a18Strophic situation in Gaza. Tensions were high and conliclin9 emotions very present. Our approach has aknys been one of indusivity and we produced a very
More Music in Morecambe Company Limited by Guarantee Trustees, Annual Report (Incorporating the Director's Report) Icontiiiued) Year ended 31 March 2024 moving evening of candle-lighting, poetry and music which was interesting. diverse and focused on peace. More Musids work has often 8ddre$sed themes which ale chBllenging. using art and music to Taise awareness. Sigh of the Sea was More Music's response lo the 20th 8nniversary of the morebe Bay Tragedy, in which 24 Chinese migrant workers died, a very Significant inGident in the history of the districl and which had a huge impact on many Ioc81 people. We galheied on the beach Bround a ship shaped bonfire built by local volunteers. We wrote wishes on lanterns, played mu$i¢, drank ginger tea and wandered to the edge of the sea to think aboLrt those men and women. 400 of our cornmunty came together outside to pay our respects - it was a fitting tribute. a thoughfful motnenl in lime. Then Into More MLJSIC to eat food cooked by the local Global Kitchen, by Sam Chan from the Hua Xk3n society and Guo Yue- cook and flaulisl frorn London. The room was lull and after eating, people listened to 8 sel of songs from The Long Walk - the ple that More Music cfeated in 2007-9 in Morecambe. Liverpool, Gateshead and Hong Kong. The event attracted media altenlion both localty and nationally and was cove in The ObseNer and The Guardian. We take our role as a community-based organisation seriously and when a local hotel became a home for 80 refugees and asylum seekers Irom around the World, wtr look every opportunity to welcome them,. we offered our building as a venye for language Classes, oflered tickets for gigs and subsidised a programme of music at the hotel coverin9 the expenses of local artists, many of whom did not lake payment. Ambition and Qualty= This year we have piesenled an increillble 1Sne up of diverse and inspiring artlSts within our gvJ programme, a valuable projèct which enables us to bring musicians of the highe31 qualty to More¢8mbe 8nd L8nc8Ster, creating opporiunilies for kncal people to experience music from arourKI the wodd. Our £5.00 lickel price foi local people makes the programme affordable for everyone. We have presented Anna Mudeka. This is the Kil. Dominie Hooper, lona Lane and Angeline Morrison alongside others. More Music had a SIgnlCant presence at Lancaster Music Festival, helping lo ¢hang6 the profile of a pub-based music event and showcase grassroots music. We look some of our star projects across the river to engage. entertain, inspire and to raise awareness of our work. The Mole Medi8 Collective, our young producers, hosted and curated a vibrant programme in the town ntre, sharing the diverse lalenl 8nd emerging confidence developing in our youlh participation progr8mme, which is delivered piin¢ipally by our inspirational in-house team. led by Rachel Parsons. Vve celebrated the ongoing success of our Girls Can initl81ive, tsur campaign to highlight women's achievements and provide opportunities to explore areas of music and technology where there are often barriers, through a special partnership with up-and-corning Mancheslei based female punk band Loose Articles. AS inspirational role rnodel3, they delivered song writing workshops in Morecambe and at the fe51ival. contributed to a panel on women in in rnus 3nd played a vibrant sell wt gig with the young bands as support. We ran a successful third cohort ol our More Music mentorship Scheme with young people who enjoyed the experience of shadowing Ihe entire programme with sUPPOrt from senior music leaders. The aim of this scheme is for young people to gain insighl inlo the diverse world of community music and experience lo musi¢ tnaking in a professional environment. This work conlribules lo our commitment to sector development, and lo supporting young people lo become employable and to grow in confidence and agency.
More Music in Morecambe Company Limited by Guarantee Trustees, Annual Report Ilncorporating the Director's Report) (¢oniintse(Q Year ended 31 March 2024 Dynamism.. We have forg$d new partnershlps and slrengthened others,. eg Bay Bluè Prlnt for Recovery, BaylHJht, Morecambe Music festival, Northem Silents, Global Link, aThJ many more, which support and contribute to the development of the kJ¢al arts atKI cultural sector. We have maintained and protected our p8rtnership$ with the Iw81 health sector in wder to bulld iecogrirtion and achieve funding for our work whith is proving to be of significance to the health arnd wellbeing of our community. The success of the Young person's social presciiber initiative has Secured Ihe posl for third year with funding from Bay Medical Group. As front runners in the kjcal arts and health scene, More Music projècts a much in demand as subjects for research. This year we have secured funding from Edge Hlll University to partiCTpate in North Wesl wide project examining the impacl of arts on the mental health of young people. Future pn8'. Al the beginning of July, More Music will welcome a new Executive Director. following the resignalion of Kalhryn MacDonald. Marianne Barraclough brings a wealth of experience from her work with Sinfonia Viva. an orchestra and music education charily based in Derby. We will continue to work with funding consultant Frances Snowden to coniinue to develop our income generation strategy, arid seek new opportunities with 8 P8rticul8r focus on c3pitsl funding. The More Music building is former Edwardian MUSK Hall and 15 in constant need of repair. There are ¢urrtrnt some TSSLJes which need imrnediate attenli¢)n. Our celebrated youth programme will be maintained and developed. We will support youThJ people to.. build resilience, to develop transferrable skills Ihrough music making, paid opportunities, menloring and placements with local and regional partner organisations. We will mainlairi our cornrnilmenl lo in¢lUsn and diversity and continue lo in¢re8se opportunities to work with pèople who are marginalised. underrepresented. lonely and i501aled. As ever we remaln commilted to Article 27 of the Ur¢iversal Declaration of Human Rights, that gives us al the right to participate in the ojltural life of the community and to enjoy the arts.
More Music in Morecambe Company Limited by Guarantee Trustees. Annual Report {Incorporating the Director's Report) {COftllnu Year ended 31 March 2024 Finanelal r•viaw Our reported income for the year is 2598.401, a reduction of £76,104 112Vo} on the prevlous year. This is in part due lo Gapitsl grants received in 2022-2023. More Music is grateful foi continued support from Arts Council England, Youth Music and Lancaster City Council who granted us 30trh of our annual income. The cost-of-living crisis and Ihe reduction in Youth Music fundin9 has had a signilunt impact on Ihe organisation and a review of the structure of the charity is now essential. Marianne Barraclough will be tasked with undertaking an organisational review as a matter of urgen¢y upon starting in July 2024. Earned income formed 37Q/o of our total incorne, including our long-standing partnership with Lancashire Music Hub, and with additional box offiTr income from our gig piogramme, an increased in ommissioned SerVeS and an increase in fees lor building hires. Grants formed 59% tsf our income and were received from Garfield Weston Foundation, Popu181ion Health. Bay Medic31 Group and Francis Seott Trust who supported our health and wellbeing woik and contributed lo our core running ¢osls. Wè secured a grant from The Energy Saving Trust Foundation for our erwironrnenlal focussed work. We brought a grant from Dowager Countess Eleanor Peel Trust, and Francis Winh8tn Trust. which had been received In the previous year into Ihis year, to support our health and wellbeing work. Total expenditure was £590,911 an increase of apprtsximately 5.7/0 on the previous year. Core staff, contracled slaff and freelance fees make up the vast rnajoity of our expenditure and account for 76.9% of all costs. Staffing costs were increased by 9.4% against the budget set lor the year. The end of year position is a surplus of £7,490. Wrthin these figures there is an unrestricted defial of £36,143 and a capital deficit of £11,384, wilh the balance of reStrted lunds of £55.017 for usè in future years. The defiat position has been managed through use of our flee reserves. Our remaining unrestricted reserves have reduced to £16,751, which is well below Ouf reserwes policy and is some cause foi concern. Reserves Policy The trustees continue lo review the development of the reserves in view of the rnain risks lo the organisalion. The established policy 51ates that unrestricted funds not committed should be equivalent to six weeks of running costs 1£68.1821 with the aim to extend that up to three months. The unreslricled free reserves at 3151 March 2024 were £16.751 12023 £52,893). PrlncSpal risks atvj uncertainties The biggèst risk to tha organisation is the reduclM)n in core and programme funding. A review into the organisalional structure is required in OTder to ensure the charity can Temain viable. with reserves built back up lo a reasonable position. The reduction in Youth Music funding, the standstill funding from Arts Council England. rising energy costs and the cost-of-living crisis wesenl major challenges for More Musi¢. More Muslc continues lo develop relationships and partnerships with k)c81 and n81ion81 funders and Irusls, and to apply for grants to support their work.
More Music in Morecambe Company Limited by Guarantee Trustees. Annual Report Ilncorporating the Director's Report) (conllnued) Year ended 31 March 2024 The Iruslees. annual report 8nd the 8lr81egic report were approved on . ! ? 111124 on behalf of the board of trustee5 by.. 8nd slgned Mrs L Zawadzki Trustee 10
More Music in Morecambe Company Limited by Guarantee Independent Examinerfs Report to the Trustees of More Music in Morecambe Year ended 31 March 2024 I report to the trustees on rny ex8minalion of the fin8ncial statements of More Music in Morecambe Ilhe charity'l for the year ended 31 March 2024. Responsibilities and basis of report A$ the trustees of the company land also ils directors for the purposes of ¢ompany lawl you are responsible foi the preparatton of thè financial statements in accordance with the requirements of the Companies Act 20061.lhe 2006 Act'i. Having salisfied myself that the accounts of the comp8ny ale not reqUId to be audited under Part 16 of the 20Q6 Act and are eligible fof independent examination, I report in rèspecl of my examination of the charity's accounts as carried out under section 145 of the Charities Act 2011 I'the 2011 Act'l. In <>rrying out my examination I have followed the Directions given by the Charity Commission under section 145151{bl of the 2011 Act. Independent examiner'$ ststsment Since the charity's gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confim that l am qualified to undertake the examiqation because l am a member of the Inslitule of Chartered Accountants in England and Wales IICAEW), which is one of the listed bodies. I have completed my examination. I confirni that no matters have come lo rny attention in connection with the exarninalion giving me causè lo believe.. accounting record5 were not kept in respect of the charty as required by section 386 01 the 20(E Act., or the financial statements do not accord with those records.. or the financial statements do not conN)ly wilh the accounling requirement$ ol section 396 of the 2006 Act othei than any requirement that the accounts give a 't and f¥Tr' view whi¢h is not 8 matter considered as part of an independent examination., or Ihe financkil slalements have not been pieparèd in accordance with the methods and principles of the Statement of Recornrnended Practice for accounting and reporting by charities applicable to charities prepariw their accounts in accordance wilh the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021. I have no concems and have come across no other matters in connection wf¢h the examination to which attèntion should b& drawn in this repori in order lo enable a proper understan(ting of the accounts lo be leached. Phillip Dennison ACA FCCA Independent Examiner 20 Mannin Way Lancaster Business Park Caton Road L8ncASter L413SW 11
More Music in Morecambe Company Llmlted by Guarantee ststement of Financial Activities {including income and expenditure account) Year ended 31 March 2024 2024 Restricted funds Total funds Total funds 2023 Unrestric(ed funds Note Income and •ndowm•nts Donations and legacies Charitable activities Other trading aetivitiès Investment income Olher income 17,447 257,883 40,811 1,575 48,778 17,447 489,790 40,811 1,575 d8,778 8,209 603,164 35.051 231.907 27.904 Total incom• 366,494 231.907 598.401 674.505 Expenditu Expenditure on r8lslng fvnds.. Costs of raisin9 donations and legacies Expenditure on charitable 8¢Aivitie5 Total expenditur¢ io 11 6,362 397.439 6,362 584.549 5.400 619.153 187,110 403,801 187,110 590.911 624.553 Transfers bètweèn funds 583 15831 Net income and not movement In funds 136,7241 44.214 7,490 49,952 Reconciliation of funds Total funds brought forwar<1 Total funds carried forward 282.712 80.176 362.888 312.936 245.988 124,3go 370.378 362.888 The slatemenl of financi818¢1ivilies in¢ludes all gains and tosses recognised in the year. All income and expenditure derive fiotn continuing 8clivrties. The notes on pages !Sto 28 fom) part of these financial statements. 12
More Music in Morecambe Company Limitsd by Guarantee Statement of Financial Position 31 March 2024 2024 2023 Note Fixed assets Tangiblè fixed ass6ts 18 297,610 308,994 Current assets Bar stock for resale Debtors Cash al bank and in hand 19 20 593 26.448 114,231 692 40.306 245.676 141,272 286.674 Credltors.. amounts falllng due wtthln one year Net current assets 21 49.667 210.884 91.605 75.790 Total assets less current Ilabilitles 389,215 384.784 Creditors.. amounts falling due after morè than on• yèar Net assets 22 18,837 21,896 370.378 362,888 Funds of the ¢harity Re$lri¢ted funds Unrestricted fund5 124,390 245,988 80,176 282.712 Total charity funds 25 370,378 362.888 For the year ending 31 Marth 2024 the charity was entitled to exemption from audit under section 477 of the Companies A¢1 2006 relating lo small Companies. Directors. responsibililies.. The members have not requId the company to obtain an audit of ils financial slaternenls for the year in Question in accoidance with section 476., The direciors acknovAedge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial st81ements. These fin8neial statements have been prepared in accordance with the provision5 applicable lo companies subject lo Ihg small companies, regime. These financial slalemenls were approved by Ihe board ol trustees and aulhorised for issue on i 11.1..4.l.'L Y.., and are signed on behalf of the board by.. Mrs L Zawadzki Trustee The notss on page5 15 to 28 lo part of thos• fjnanclal $tatemet)ts. 13
More Music in Morecambe Company Llmlted by Guarantee Statement of Cash Flows Year ended 31 March 2024 2024 2023 Cash flows from opèrating aetlvltles Net income 7.490 49,952 Adjustmeftls for.. Depreciation of tangible fixed assets Other interest receivable and similar income Interest payablè and similar charges Accrued lincomeyexpenses 16,133 11,5751 1.816 13991 13,576 11771 2,219 10,042 Changes in.. Bar stock for resale Trade and other debloTS Trade and olher creditors 99 3,143 1150.1031 1123,3g81 29 11,8071 36,192 Cash generated from Operatn$ 110,026 Interest P8id Interest Teceived 11.8161 1,575 {2,2191 177 Nel ¢ash (used inllfrorn operating 8ctivilies 1123,63n 107,984 Cash flows from Investlng actlvltles Purchase of tangible assets Nel cash used in investing activities 14.7491 14,7491 198,3461 198,3461 Cash flows from financing actlvitles ProTreds from borrowings Net cash used in finan¢ing activities 13,0591 13,0591 19,9561 19,9561 Net decrea$e in ¢a¥h and ¢8$h ¢quivalents Cash and cash equivalents at begtnning of year Cash and ¢ash equivalents at end of year 1131,4451 245,676 {3181 245,994 114.231 245,676 The notes on pages 15 to 28 fomi part ofthese financial statements. 14
More Music in Morecambe Company Limited by Guarantee Notes to the Financial Statements Year ended 31 March 2024 General Infom)ation The charity is a public benefit enlity and a private cornpany limited by 9UaFantee, regISted in England and Wales and a registered charity in England and Wales. The address of the regislered Offi is 13-17 Devonshire Road, Morecambe, Lancashire. LA3 1QT. Ststement of ¢omplian¢e These financial statements have been prepared in compliance with FRS 102. 'The Financial Reporting Standard applicable in Ihe UK and the Republ ol Ireland,, the Staternenl of Recommended PraCte applicable to charities preparing their accounts In accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 Icharilres SORP IFRS 10211 and the Companies Act 2006. Accounting policies Basls of preparatlon Thè financial statements have been prepared on the historical cost basis, as modffied by the revaluation of certain finaneial assets and liabilities and investment properties measured al lalr value through income or expenditure. The financial statements are prepared in sterling, which is the functional currency of the enlily. Golng concem There are no material uncertainties about the charity's ability to continue. Judgements and key sources of estimation uncertalnty In the opinion of the Trustees there have been no slgnificant judgements (apart frorn those involving estimates) rnade in the process of applying Ihe above 8ccounting poliaes. Thèrè havè en no key assumptions concerning lulure and other key sources of estimation vncertainty 81 the ieporting dale that have a significant risk of causing 8 rnateii81 adjustment lo the carrying amounts of assets and liabilities wilhin the next financial year. The Charily's key estimate5 are con5idored to depreciation charges which are explained in the fixed asset accounting policy. Income tax The char¢ty is exempl from tax on income and galns falling within Section 505 of the Taxes Act 1988 on Section 252 of the Taxation ol Chargeable Gains Act 1992 to the extent that these are apPld lo ils charitable objects. 15
More Music in Morecambe Company Llmlted by Guarantee Notes to the Financial Statements (¢o*)IlnuedJ Year ended 31 March 2024 Accounting polleles Iconllnuedl Fund accounting Unrestricted fvnds are available for use al the discretion of the trustees to further any of the chariV5 purposes. Designated fijnds are unrestricted funds earmarked by the trustees for particular fuiure project or commitment. Restrided fund5 are Subjected to restrictlons on thèir expenditure declared by the donor or through the lemis ol an appeal. and fall into one of two sub-ctasses.. restricted income lunds or endowmenl funds. Incoming resources All incoming resources are included in Ihe statemenl of financial activilies when entitlement has passed lo the ch8rty', it is probable that the economie benefts associated wth the transaction will flow lo the tharity and the amount can be reliably measured. The following specific policies are applied to pariicular Galegoiies of income= income from donalions or grants is recognised when there is evidence of enlillemenl lo Ihe gift, receipt is probable and ils amount can be measured reliably. legacy income is rewgnised when receipt is probable and entitlement 1$ e$tsblished. income from donated goods Is measured at the fair value of the goods unless this is impiaotical to measure reliably, in which case the value is derived from the cost to the donor or Ihe 95timat6d resale value. Donated facilities and sèrvths are recognised in the accounts when received if the value can be reliably rneosured. No arnounts are included for the conlribulion of gene[81 volun18ers. income from contracts for the supply of services is recognised with the delivery of the contracted service. This is classified as unrestricted funds unless there is a contractual requirement for it to be spent on a particular purpose and relumed rf unspent. in which case 11 may be regarded as restricted. 16
More Music in Morecambe Company Limited by Guarantee Notes to the Financial Ststements I¢oniinu•d) Year ended 31 March 2024 Accounting policles (¢oniinuedJ Resources èxpended Expenditure is recognised on acGru8ls basis as a liability is incurred. Expendrture includes any VAT which eAnnot be fully recovered. and is dassthed under headings of the slalemenl tsf financial 8¢tNilies lo whi¢h il relates: expenditure on raislng funds includes the costs of all fundraising a¢tThriti&s, evènts. non-charilable trading activities, and the sale of donated good5. expenditure on charitable 8clivilies inGludes all costs incurred by a charity in undertaking aclivrties that further its charitable aims for the benefit of its benefLiaries, including those SUPPOrt costs and costs relating lo the g(Trveinance of Ihe charity apportioned to charitable activities. other expenditure includes all expenditure that is neither related lo raising fvnds for the charhy nor part of hs expendiiure on charitable activities. All costs are allocaled lo expenditure calegoiies reflecttng the use of the resource. Direci costs atlribulable to a single activity are allocated directly lo that activity. Shared costs are apportioned beNveen the activities they contribute to on a reasonable. juslif18ble and consistent basis. Tanylble assets With the exceplion of property. tanglble assets are initially recorded at cost, and subsequently slated at COSt less any accurnulated depreciation. Onty items wrth a cost in excess of £250 are capit81ised. During 2017 Ihe Freehold property was revalued to mwkel value having been subjected 10 8 professional valuation by chartered surveyors at Ihe requesl of the Co-oper*ive Bank. This valuation has been subsequently depreciated. Depreciation Depreaation is calculated so as to write off the cost or v81ualion of 8n asset. less its residual value. over the useful economic life of that asset as folbws.. Fieehold property Plant and rnachinery Fixtures and fillings 2% straight line 20QA straight line 20Qh slr8ighl Ilne Impairnient of fixed assets A review lor indicators of impairment is carried out al each reporting dale, with the recoverdblè amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairrnents are also reviewed lor possible reversal at each reporting date. 17
More Music in Morecambe Company Limited by Guarantee Notes to the Financial Statements {tt)rt(inue Year ended 31 March 2024 Accounting pollcies (cllInUed) Stocks Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition. Financlal Instruments A financial a5$èt or a financial liabilty 1$ reo)gnlsed onty whtsn Ihts entity becomes 8 party lo thè contractual provisions of the insliumenl. Basic financjal instruments are initially recognised al the amount re1vable or paable including any related transaction costs, unless the arrangemenl constilules a financing transaction, where il is recognised at the present value of the future payments discounted al a market rate of interest for a similar debt instrument. Current assets and current liabilities 8re subsequently measured 8t the ¢8sh or other considaralÉon trxpecled lo be paid or r$¢¢ived and not dTr$counled. Debt instruments are subsequently rneasured at amortised cost. Financial assets that are meaSUd at cost or amortised cost are reviewed loi objective evidence of impairment at the end of each reporting date. If there is objective evldence of impairment, an impairment loss is recognised under the appropriate heading in the statement of financial activities in which the initial gain was recognised. Definèd ¢ontribvtion plan$ Cornlribulions to defined contribution plans are recognised as an expense in the period in which the related Servi is provided. Prepaid conlribulions are recognised as an asset to the extent thal the ppaYment will lead to a re(luction in future payments tsr 8 cash refund. When ¢ontributions 8re not expeoled to be settled wholty within 12 months of Ihe end of the reporting date in which the employees render Ihe related serviTr, Ihe liability is measured on a discounted present value basis. The unwinding of the discount is recognised as an expense in Ihe period in which it arises. Llmltèd by guarant¢¥ Every trustee of the tharity undertakes lo contribute such an arnounl as may be required Inol extseding £1} to the charity's assets if it should be wound up while he or she is a trustee. or within one year after he or she ceases to be a trustee. 18
More Music in Morecambe Company Limited by Guarantee Notes to the Financial Statements icontynued) Year ended 31 March 2024 Donations and l•gael•$ Unrestricted Funds Restricted Total Funds Funds 2024 Donations Donations 17,447 17,447 Unrestricted Funds Restricted Total Funds Funds 2023 Donatlons Donation$ 7,075 1,134 8,209 Charitable activities Unrestricted Funds Restricted Total Funds Funds 2024 Grants and contracts Fees for workshops, classes and performances Partnership income 124,287 63,155 70,441 231.907 356,194 63,155 70,441 257,883 231.907 489,790 Unreslricted Funds Restricted Total Funds Funds 2023 Grants and contracts Fees for workshops, classes and performances Partnership inwme 117.529 65.134 72.641 347,860 465,389 fj5,134 72.641 255,304 347,860 603.164 Additional information on materK41 grant and contract income is detailed per the funds note Ihe ccounls. Othertrading activitles Unrestricted Total Funds Unrestricted Total Funds Funds 2024 Fund8 2023 Ticket sales Bar takings and merchandise Venue and equipment hire 21,507 6,541 12,763 21,507 6,541 12,763 12,036 6,894 16,121 12.036 6,894 16.121 40,811 40,811 35,051 35.051 19
More Music in Morecambe Company Limited by Guarantse Notes to the Financlal Ststements (contrnued) Year ended 31 March 2024 Investment tneome Unrestricted Tt)tsl Fund¥ Unrestricted Total Funds Funds 2024 Funds 2023 Bank Interest 1.575 1,575 177 177 Other income Unre$lrf¢ted Totsl Funds Unr¢strlded Total Funds Funds 2024 Funds 2023 Management. servi¢9 and 1gchni¢al fees Sundry ineome 41,810 6,968 41,810 6,968 21,547 6,357 21,547 6,357 48,778 48.778 27,904 27,904 10. Costs of raising donations and1998¢1¢$ Unreslricled Total Funds Unreslricled Total Funds Funds 2024 Funds 2023 Other f¢Jndraising costs 6,362 6.362 5,4CO 5,400
More Music in Morecambe Company Llmited by Guarantee Notes to the Financial Statements (CL11neI Year ended 31 March 2024 11. ExpenditLtre on ¢h¥ritsbl¥ a¢tiviti¥$ by fund typ¢ Unreslricled Fund5 Restricted Total Funds Funds 2024 Freelance project workers Staff costs Hospitalily costs Travel costs Technical and production costs Other direct costs Support CA)Sts 57,923 120.222 5,995 13,026 8.076 823 191,372 74,979 33,832 4,430 2,281 4,848 1,842 64,898 132,902 154,054 10,425 15.309 12.924 2.865 256.270 397,439 187,110 584.549 Unrestricted Funds Restricted Total Funds Funds 2023 Freelance project workers Staff costs Hospitality costs Travel costs Technical and production costs Othei direct costs Support costs 94,804 38,866 10,109 11,584 7.736 343 144.283 55.110 91.927 8,273 7,616 1.235 4.707 142,560 149.914 130,793 18.382 19.200 8.971 5,050 286.843 307.725 311,428 819,153 12. Analysis of support costs Total 2024 Tol812023 Staff costs Prèmises Communic3lions and IT General office Govemance costs Publicity and website costs Depreciation Consultancy and professional fees Other costs 146,246 33,802 6.927 7.159 27,287 8,004 16,133 3.651 7,061 161.127 47,945 6,481 6,265 24,463 11,382 13,576 9,288 6,316 256,270 286,843 21
More Music in Morecambe Company Limited by Guarantee Notss to Ihe Financial Slatsments {¢ontlnuedJ Year ended 31 March 2024 13. Net in¢ome Net income is stated after chargintylcreditingl= 2024 2023 Depreciation of tsngible fixed assets 16,133 13,576 14. Independ•nt •xaminatlon f••s 2024 2023 Fees payable to the independent exarnin8T for.. Independent examination of the financial slalements Other financial services 1,155 1.389 1,100 1,294 2,394 15. Stsff costs The lolal staff costs and employee benefits for the reportlng perlod are analysed as follows.. 2024 2023 Wagès and salaries Social srity costs Employer contributions lo pension plan8 295,358 17.160 8,740 285,233 16,892 8,563 321,258 310,688 During the year the charity made severance payments of £Nil12023' £Nill. The average head Cnt of employees during the year was 1612023.. 161. No employee received employee benefts of rnore than £60,OCK) duriroJ the year12023.. Nil). Key Management Personnel Key management personnel include all persons that have authority and responsibility for plannlng, directing and ¢onlrollin9 the activities ol the Charity. The total compensation paid to key management personnel for services provided lo the Charity was £70,036 {2023..£62.5801. 16. Trustee remuneration and expenses No Temuneration or other benefits from employment with the charity or a related entity were received by thè Iruslèes. 17. Fund5 held as Custodian trustee More Music in Morecambe acted to hold funds for Lancaster Arts Parlnership. At 31st March 2024, funds of £1,839 were held in a separate Community Direct Plus Account with the cOperative Bank. 22
More Music in Morecambe Company Limited by Guarantee Notes to the Financial Statements Iconiinv8dl Year ended 31 March 2024 18. Tangible fixed assets Musical instruments and equipment Fixtures, fittings and office equipment Freehold properly Total Cost At 1 April 2023 Addillons 744,254 2,889 107,987 1,200 125.037 660 977,278 4.749 At 31 March 2024 747,143 109,187 125.697 982,027 Dèpreciation At 1 April 2023 Chaige ftsi the year At 31 March 2024 470,159 6,020 86,787 5,646 111,338 4.467 668.284 16,133 476,179 92,433 115,805 684,417 Carrying amount At 31 March 2024 270,964 16,754 9,892 297,610 At 31 March 2023 274,095 21,200 13,699 308,994 During thè year ended 31st March 2016, at the request of the Co-operalNe Bank, Sanderson Weatherall Chartered Surveyors carried out a valuation report on 13-17 Devonshire Road. More¢ambe. The report dated 18th January 2018 stated that Sanderson Weatherall were ol Ihe opinitsn that, as an indication only, they would antiC4pale that the value of the prernises would be in the legion of £200.000 on completion of the roof works and repairs to exterior walls and windows (all other Ihings remaining equall. The works were completed during the year ended 31st March 2017 and the Trustees were of the opinion that the £200,000 was reasonable. 19. Stocks 2024 2023 Finished goods and goods for resale 692 20. DebtorB 2024 2023 Trade debtors Prepayments and accrued income 16.274 10.174 21,059 19,247 26.448 40,306 23
More Music In Morecambe Company Limited by Guarantee Notes to the Financial Statements 1¢on1 Year ended 31 March 2024 21. Creditors: amounts falling due within one year 2024 2023 Bank loans and overdrafts Trade credilors Accruals and deferred income Soaal security and other taxes Other ¢reditors 3,670 14,296 25,409 5,572 720 3.670 50.181 150.687 5.556 790 49,667 210.884 22. Creditors.. amounts fallin9 du• aftèr morè than on• yèar 2024 2023 Bank loans and overdrafts 18.637 21,896 The charity has made use of the Covid Bounce Back Loan Scheme as 8 contingency. £30.000 was drawn down on 12th November 2020. The other bank loan 15 secured by way of a first legal charge held over the freehold property of the charity. 23. Deferred ineom• 2024 2023 At 1 April 2024 9,105 123,269 24. Pensions and other post retirement benefits Defined contributlon plans Thè amount recognised in income or expenditure a$ an expense in relation to dèfinad conlrit*rtion plans was £8,74012023.' £8,563).
More Music in Morecambe Company Limited by Guarantee Notes to the Financial Statements l¢tsn(inuedJ Year ended 31 March 2024 2S. Analysis of charitable funds Unrestrrcted funds At 1 April 2023 At 31 Mah 2024 Income Expenditure Transfers Lancaster City Council Arts Council England Fixed assets Other general funds 12,800 107.552 4,749 241.393 112,8001 1107.5521 15.9131 1277.5381 229,818 52,894 583 229,237 16,751 282.712 366,494 1403,8011 583 245,988 At 1 April 2022 At 31 March 2023 Income Expenditure Transfers Lan(sster City Coun¢il Arts Council Erhgland Garfield Weston Fixed assets Other general hjnds 12.500 107.552 15.000 41,092 149,366 112,500} 1107,5521 115,0001 15,2141 1172,8591 1313,1251 193,940 76,386 229,818 52,894 270.326 325,510 282,712 25
More Music in Morecambe Company Limited by Guarantee Notes to the Financial Statements (¢onth7ued) Year ended 31 March 2024 25. Analysls of charftable funds Iconlinued) Restricted funds At 1 April 2023 At 31 March 2024 Income Expenditure Transfers Donations R8veftue grsnl8 Youth Music Lancaster City Council FC Scott B8y Medical Group Moreizrnbe Town Council Morecarnbe BID Population Health Peel Trust Energy Savings Trust FrancAs Wnham Masoni Trust Carytal grants Arts Council England Youth Music VO Skelton Wssl End Millom Spiril of 2012 Childien in Need Lancashire Environmental Fund Walney Trust Bruce Wake 2,717 12.134) 1583} 60,000 34,122 25,250 29,774 10,000 500 13,161 7,500 20,000 10,000 21,600 160,0001 134,1221 115,0001 129,7741 110,0(X)I 15COI 113,1611 17,5CKII 13,3331 (2,5CKII 10.250 16.867 7.500 21.800 2,759 2,764 188 37 584 15,007 30,000 24,120 2,000 12,7591 19491 11881 137) 12001 13.8311 16001 14821 140) 1187,110} 1.815 11.176 29.dOO 23,638 1.960 General funds 80,176 231.9)7 15831 124.390 Yotrth Music PTojecis support specific mL1c delNery for children and young Feople. Lancaster City Council awarded grants towards the Catch The Wnd Festival. The Alien Needs Our Help Projed, Refugee Week and Spacehive. Income was received from Population Health, 8ay Medical Group. Fracis Scott Trust, Dowager Countess ElearK)r Peel Trust and the Franas Winham Trust towards the health and wellbeing projects deliveted in the year. A grant was reNed from The Energy Savings Trust Foundation towards the charity'5 enviionmental work. The Splrit of 2012. FC Scott, Duchy of Lancaster. Banks Lyon. VO Skerton, st End Millom and Bay Medical Group grants are for supporting Singing for Health projects in Morec8mbe. The Arts Council England (xpital grant funded the purchase of specific equipment and instrurnenls for use by the charily. Expendilvre repre5enl8 the depre¢iation charge in relation to those assets. The remaining fixed asset fund5 carried forward represent the cosl of equlpment purchased with the respeclwe revenue grants. sS the depreciation charge in relation lo those assets. 26
More Music in Morecambe Company Limited by Guarantee Notes to the Financial Statements Year ended 31 March 2024 25. Analysls of charltable funds Iconfyftued) Comparative infomiaiion in respect of the preceding pericmy 18 as follows: At 1 April 2022 At 31 March 2023 Income Expenditure Transfers Donations Revenue grants Ywlh Mu51¢ Lancaster City Council Spirit 2012 FC Scoti DWP- Kickstarter Bay Medical Group Morecambe Town Counc¢l Morecambe BID Population Health Capitol grants Arts Council England Youth Music VO Skelton West End Millom Spirit of 2012 Children in Need Lancashire EnviTonmenl81 Fund Walney Trust Bruce Wake 2.783 1,134 11,2001 2,717 149,966 41,881 36,197 8,750 2,170 30,849 2.OCM) 1,0(X) 18,927 1149.9661 141,6811 142,6951 112,5781 12,1701 130.8491 12,IX)01 11.IX)01 118.9271 6,498 3,828 5,516 3,713 498 152 784 18,838 12.7571 19491 13101 11151 12001 13,8311 2,759 2,764 188 37 584 15,007 30.000 24,120 2,000 30,0(X) 24,120 Gener81 funds 42,610 348,994 1311.4281 80,176 27
More Music in Morecambe Company Limited by Guarantee Notes to the Financial Statements (¢ontlnuodl Year ended 31 March 2024 26. Analysls of nat assèts beeen funds Unre51ri¢ted Funds Reslri¢ted Total Funds Funds 2024 Tangible fixed assets Cvrrent assets Cfedilors less Ihan 1 year Creditors greater than 1 year Net assets 229,237 85,255 149.667) 118.83n 245,988 68,373 56.017 297.610 141,272 149.66n 118,837) 370,378 124.390 Unrestricted Funds Restricted Total Funds Funds 2023 Tangible fixed assets Current ass&ls Creditors less than 1 year Creditors greater than 1 year Net assets 229,818 79,176 308,994 162,405 124,269 28S,674 187,6161 1123.269) {210.8851 121,8961 121,896) 282,711 362,887 80.176 27. Analysls of ¢hang•s In net dtbt At Al 1 Apr 2023 Cash flows 31 Mar 2024 Cash al bank and in hand Debt due within one year Debt due after one year 245,676 13,6701 121,8961 220,110 1131,445) 114,231 13,6701 118,837) 91,724 3,059 {128.386) 28. Relatsd partie$ No invoices for professional servi& performed lor the tharity were raised by the Trustees during the year12023.' £Nill. No travel costs were reimbursed to Trustees during the year12023.' £Nill. No material donations were made by Trustèes to the charfty. 28