Registered Charity Number 1100878 Registered Company Number 04653409 Plymouth Music Zone Limited Report and Accounts for the year ended 31 March 2025
Plymouth Music Zone Limited Report and accounts Contents Page Page of Contents Charity and Company Information Trustee's Report Statement of Directorsrrrustees Responsibilities 17 Independent Examiners Report 18 statement of Financial Activities 19 Statement of Financial Position 20 Notes to the accounts 21
Plymouth Music Zone Limited Company Inforniation Directors Christopher Hunt Chair of Trustees Elizabeth Hill Peter Jerome Resigned 1 March 2025 Clare Pettinger Bryony Rawson Nicholas Warren Appointed 29 September 2025 Leadership Team Karl Meyer Chief Executive / Music Programme Director Chief Executive to March 2024 Debbie Geraghty Glyn Fuge Anna Batson Finance and Impact Director to May 2024 Creativty and Leaming Director to July 2024 Registered Office Ragland Road Brickfields Devonport Plymouth Devon PL14NQ
Trustees, Report For the year ended 31 March 2025 Plymouth Music Zone (PMZ) is a community music charity first set up in 1999. Its'music Making a Difference, tagline describes a passionate mission that focuses on transforming lives through music. PMZ is a vibrant, inclusive charity and venue, where people can come togetherto create, connect and grow. Music is our mediurn to support wellbeing, bring joy. inspire creativity and build relationships. PMZ has supported over 70,000 children and 20,000 adults through over 50,000 music workshops and over2,000 special events Sin 1999. This happens at a range of venues across the city as well as at its community music centre located in Devonport, one of Plymouth's main areas of multiple deprivation. PMZ is recognised as a model of socially engaged excellence both locally and nationally. PMZ works hard to build genuine relationships with its partner organisations. This offers participants the opportunity to shape, create and take part in music making activities alongside PMZ Music Leaders. PMZ'S activities offer music making that is engaging, full of fun and looks to reduce social isolation, develop emotional wellbeing and improve the personal and social skills of the participants. Alongside its commitment to working with a diverse range of participants, PMZ also employs a diverse workforce. PMZ'S Music Leaders deliver a range of regular, high-quality music-making activities, progression projects and training. PMZ aims to work with those people most at risk of being marginalised in Plymouth. Our programme also includes performances and one-off opportunities that bring people from its more targeted work together wFth others at events that aim to engage people in their own musical and social development. 95% of PMZ'S music provision targets children and adults defined as being in 'challenging circumstances. and over 700/0 of its participants have disabilities. The charity is also disabled- led and houses a specialist multi-sensory music making space. PMZ has won a number of national awards recognising the excellent and innovative nature of the work. Since its inception, the charty has commissioned six independent evaluations and led a research project with Plymouth University. It was also involved in a multi-disciplinary research pilot exploring singing for people with aphasia with the University of Exeter Medical School and was lead community partner in a two year "Knowledge Exchange" programme wtth Plymouth University. These evaluations and research projects have provided powerful evidence of the deep impact of PMZ'S work. Findings from these include evidence of PMZ'S delivery developing and improving self-esteem, personal expression. communication and interpersonal skills. Additionally contributing to increased resilience, overall emotional wellbeing and the creation of what evaluators refer to as 'social and bridging community capital,.
Trustees, Report For the year ended 31 March 2025 To date, Ptymouth Music Zone has delivered co-created music making activities on both a weekly and one-off basis, one-tTrone workshops, special projects, events and commissioned work. In addition to a smaller programme of regular, open-t¢>all activities PMZ also offers targeted work focused on those experiencing disadvantage or marginalisation or be from underserved communtties. This is done in collaboration with a network of health and social care organisations as well as arts organisations, education and statutory authorities. PMZ alsotrains, employs and supports a hub of Music Leaders. Ourteam is dedicated to socially engaged Practi that uses music to reduce social isolation and improve the skills and health and wellbeing of participants particularly as a support for participants during difficult transitional times. The charity reaches out to partner organisations. participants and communities and examples of this reach include- Early Years (0-5 years) Young people not in education, em ment or trainin NEETS Care homes, older peoples settings, communit settin Adults wtth neurological conditions, for example Stroke survivors, Parkinson's, MS dementia, brain in Children, young people and adults with mental health issues Families facing difficult transitionslbereavement Working with marginalised communities of all ages - for example Global Majority, LGBTQ+ refugees and asylum seekers, carers, elder life limitin conditions ostin and ro ression routes Team building for corporates and educational settin Research projects After School Activitiesloutreach and music mentorin 'At Risk, children and young people Music making for children and adu wrth disabilities Children and young people facing difficult transitions Adults experiencing historic trauma or abuse, drug and alcohol misuse Music indust and careers advice Training for educational settings and music leaders Learning partnerships with national anisations
Trustees. Report For the year ended 31 March 2025 Key achievements from 202412025: PMZ had fa to fa contact with over 1.000 participants. Over 100 music activities were delivered Recordings, short films, poetry and photography- were hosted on PMZ'S website and social media reaching nearfy 15.000 contacts The weekly PMZ Music Quiz ntInued by popular demand, reaching approximately 300 people a week across the wodd. Over 950/0 of PMZ participants reached were considered to be 'in challenging circumstances, (eg living with health issues or disabled or residing in areas that are high on the indices of multiple deprivation etc). Participants. ethnicity in relation to Plymouth's 2021 nsuS statistics: White Mixed/ Multiple Ethnic Groups 3/0 Asian/ Asian British 2.5/0 2.2% Black/ Black British Other PMZ Plymouth Census 2021 91% 94% PMZ employed 15 staff of which: 53 % women, 47 % men; 600/0 have a disabilty 85 % white and 15 % Mixed Multiple EthniclBlack.
Trustees, Report For the year ended 31 March 2025 Examples of Musical Achievements 2024- 2025 Moving Sounds Moving Sounds is a music and movement group for adults with disabilities. The group is led by Karl from PMZ and Winnie from Far Flung. Throughout the block of workshops, the group created original compositions together with lyrics inspired by words (and food) that were important to them. Alongside creative visualisers, the group then performed their compositions live using a range of tuned and untuned percussion. the piano and guttar. During our WklY workshops, many partiapants had a chance to play instruments they never had before. Wooden Spoon Sensory Sounds This group of children with PMLD. ASD and SEND and their parentslcarers meet every Wednesday to sing and play lots of fun-filled songs, explore a range of instruments and sounds in the Sensory Music Room. Songs and music are a mixture of favourites from the group or compositions made by the group. An example of this has been 'Let's Go Fly a Kite, from Mary Poppins (to celebrate the show being in Theatre Royal Plymouth) along with making percussive pattems with our names and all the planets! Alex Every Thursday aftemoon you'll find Alex sat at the grand piano in the PMZ main hall. practising pleS of music that he has leamt all by ear. Alex first came to PMZ as a young teenager who played on a drum kit. Unfortunately. for the past few years, due to a number of challenging c[rCumstanS Alex hadn't been able to play an instrument. However. around this time his work with Improving Lives Plymouth led him back to PMZ. When asked what he needed. his first SpOnSe was .1 just want a piano where I can play,. PMZ and retuming to music was exactly what he needed, it was all very grey and when I walked in here and hit the keys. suddenly rainbow starts flying around,. Read more aboLrt Alex's story here: htt s:Ilwww. mouthmusiczone.or .ukJalex-the- mz- rand...I
Trustees, Report For the year ended 31 March 2025 Early Years Our Early Years workshops continued to be welcomed. We were very sad to say goodbye to one nursery in December 2024 when they dosed. We continued to work at Busy Bees Nursery where PMZ music leader Josie headed to Busy Bees to work with two groups, the Buzz Room (2 yearolds) and Foundation {34 yearolds). Both groups were excited to try newthings whether playing instruments to create the 'sound' of emotions, leaming new songs with new actions or playing the syllables of names of animals and objects in unison. Have a little listen to a little snippet of what it's like making music with the Foundation group. The track is divided into 3 parts: The group singing and dancing to 'The Dancing Fruit. (Monkey Choo) The group singing 'Little Ol. Cowboy. (Teresa Jennings) The group using a range of instruments to play the rhythm of Yla-mi-go, together. plymo MUSIC MAKING A DIFFERENCE zone https:Iwwi.plymouthmusiczone.org.uklWp-ntenuup1OadSI202sIo3IEy-webS1te48QX270.png One parent said "My child has a keen interest in music. thanks to these wonderful sessions. He re-enacts them on IrJoUrneyS and at home - always want to be Josie and sing to us..
Trustees, Report For the year ended 31 March 2025 Summer Celebration July 2024 We brought together people from across our community in the building to lebrate music and our different connections. There were perfOrmanS. a quiz. a summer singalong, the first screening of a long-awaited project. And of o)urse. tea and biscuits! The full performance can be seen here: ntt s:11 outu.be/eTv tSJY?feature=shared Partnerships Well Connected asked PMZ'S Music Programme Director Karl Meyer to lead a host of workshops wrth first year medical students from the Universi ofPI mouth As part of the workshops the students discussed and explored PMZ'S work through the context of health and wellbeing. Wendy Sheard of University of Plymouth Faculty of Health said 'Really pleased that Karl and Plymouth Mu&c Zone took part in the Well Connected Exploring Health Conditions workshops. Hurrah for communrfy connectionsf
Trustees, Report For the year ended 31 March 2025 University of Plymouth K-Pop Society The University of Plymouth K- pop Society selected PMZ as their chosen charity and donated 50 % of their ticket sales to us. It was a great event and the K-Pop society have some new fans. Good News in December 2024, PMZ was able to put out the following message of g¢)od news. Following on from our previous updates Plymouth Music Zone is very pleased to announ that we have secured our future until at least March 26 with aspirations. planning and commit to attract further fvnding to take PMZ into a sustainable future. This has been made possible by a number of factors induding Sussful grant applications and generous donations from our supporters. This will enable PMZ to cary on delivering our current programme. expanding some of our delivery and allow us to explore some exating and essential strategic organisational development. An exciting part of this will be working wtth our communities over the next year to better understand and respond to their needs. interests and most importantly throughout all of this continuing to make a differen with music. PMZ still really values everyone's help and support, on any level and of any kind. If you'd like to be involved or think you can help, please ntinUe to get in touch we would love to hear from you. Thank you everyone for continuing to care so much. There were so many comments In response but here is just one: 'Brilliant. Such a vital Servi for physical, mental, emotional wellbeing. Certainly needs to continue. so many rely on PMZ, and the Brilliant. caring staff that work there."
Trustees, Report For the year ended 31 March 2025 Organisational Review 202412025 As feared the previous year, 202412025 was a year of great challenges. The increasing competitiveness of fundraising together with less funding being available and the rising cost of living had led to the start of some redundancies in the January - March 2024 period and this continued. Two members of staff retired in April and May of 2024. Another member of staff accepted voluntary redundancy in July 2024. Sadly, in September 2024 notices of potential redundancy were given to all remaining staff and with the possibility of closing PMZ down completely by the end of December 2024. This seerned like the time to be open about PMZ'S future and we asked the participants what they wanted to do. The resounding reply from existing and past participants was "PMZ can't stop" One regular participant said, "if all we can have is a few more months of making music, then it's worth trying.. The Trustees agreed, as did existing and past funders, so PMZ issued a message explaining the sttuation and asking for help. To our utter amazement and relief, we received over £41,000 in a matter of weeks. This enabled us to stay open longer and then we got the news that we had been successful with two funding bids which ensured the future beyond March 2026. This would give PMZ a Chan to be a different organisation and consider if and how it would continue beyond March 2026. Sadly, some staff left at the end of November 2024. For some staff, the uncertainty was too stressful and for others, the shape of PMZ had changed too much during the period over the previous 12 months. This was very challenging news for the remaining staff but there was a determination for PMZ to continue in response to the participants, wishes. Although some activities stopped, some music activities continued and the participants were both relieved and delighted. The period January- March 2025 was about continuing the music whilst planning for the future- planning the recruitment of new Trustees, staff and volunteers, as well confirming a funding pipeline, but most importantly what direction PMZ wanted to take in 202512026 through listening to its participants, Trustees, staff and partners. io
Trustees, Report For the year ended 31 March 2025 Financial Review 202412025 For the year ending March 2025, PMZ had a fundraising target of £200,000. Through the 4 areas of Public Grants, Trusts and Foundations, Indtvidual Giving and Earnedlcommissioned income PMZ ended the year with a total of £189,330 against an expenditure of £242,296 leading to a deficit of £52,966. This was not unexpected and reserves have covered the deficit. For the year to March 2025, unrestricted funds stood at £68,349. PMZ continues to use a business model based on full cost recovery principles and will continue to diversify the incorne base. This business model uses an hourly rate system and has been fully supported by all our major funders. STRUCTURE, GOVERNANCE AND MANAGEMENT Constitution Plymouth Music Zone is registered as a charitable company limited by guarantee and was formed on 31 January 2003. The company is constituted under a Twst deed and is a registered charity, number 1100878. The principal objects of the company are to promote, maintain, improve and advance education by the encouragement of the arts including, without limitation, the arts of drama, mime, dan, singing and music. Method of Appointment or Election of Trustees Appointment and election of trustees is the responsibilty of the Trustees who are elected or co- opted under the terms of the Articles of Association. Policies adopted for the induction and training of Trustees All Trustees receive an induction to Plymouth Music Zone from both the Trustees and the Chief Director. Regular updates from the Charities Commission and other organisations are sent to the Trustees and Trustees are offered training on a regular basis to help them with their duties and to maximise their learning and development. li
Trustees, Report For the year ended 31 March 2025 Pay policy for Senior Staff All pay rates and any benefits are agreed by the Board of Trustees. Pay rates take account of job roles and responsibilities, comparisons to other similar charities and similar arts organisations as well as the pay ratios between different roles within the charity. Any benefits offered are aimed at ensuring the ongoing wellbeing and commitment of our team (including paid training, holiday, flexible working and health breaks). Annual pay rises are only offered if the financial reports show that the charty has perfomied well and only if the pay rises are sustainable. The Leadership Team is subject to the same criteria as all other staff within the charity. ptymouth Music Zone retained its Gold Investors in People (IIP) accreditation. Organisational, Structure and Decision Making The Board of Trustees administers the charrty and meets quarterly. The Leadership Team is appointed by the Trustees to oversee the day-to-day operations of the charty including finance, employment and operational related activity. Risk Management The Trustees have assessed the major risks to which the cornpany is exposed, in particular those related to the operations and finances of the company. They are satisfied that systems and procedures are in pla to mitigate exposure to the major risks and monitor the organisational risk register at all trustee meetings. Reserves Policy The charity has a numberof projects that span financial years and are funded by various sources for specific activities. These funds are Restricted Funds, the projects and fund balances are shown in Note 15 - Statement of Funds, in the accounts. The Trustees are aware of the need to retain general unrestricted funds wherever possible. Considering current needs and following an extensive risk analysis of the organisation and the present economic climate, the Trustees have agreed to continue with an approach that unrestricted reserves should be designated in order to cover any of the following eventualities.. 12
Trustees, Report For the year ended 31 March 2025 Development Fund - To meet any deficits not covered by income in any one year and to enable the Charity to continue its operations in the event of major withdrawal of external funding, the Charity considers it prudent to establish reserves to support 3-6 months trading against average anticipated annual expenditure of £40,000 (to be revised annually). Buildings and Repair - To meet major rtems of unforeseen expenditure including repairs or renewals of the building and equipment. Redundancy and Staff Costs - To meet any exceptional staff related costs such as redundancies and legal costs. Innovation Fund - To enable the Charity to develop new cutting-edge projects or help secure funding to do so. Unrestricted Fixed Asset Fund - To hold a fund for unrestricted assets purchased so as not to burden future funding with the depreciation costs. The Trustees consider the level of designated funds to be achieved should be £100,000 allocated as follows: Target figures £40,000 £20,000 £25,000 £20,000 £10,000 202412025 figures £38,344 £10,000 £15.970 £0 £4,035 Development Fund Buildings and repair Redundancy and Staff costs Innovation fund Unrestricted fixed asset fund The current levels of Designated Reserves are detailed in the Statement of Funds, in the accounts and currently stand at £68,349. Principal Funding Arts Council Project Lottery 202¥2025 Funding to encourage a diverse range of people to engage with music both as staff and participants to be inspired and creative. This funding also supports the growth of different income pathways and increased sharing and dissemination. 13
Trustees, Report For the year ended 31 March 2025 National Foundation for Youth Music Funding for 0-18 years (25 years wÉth special need1n challenging circumstancesl transition) to access music making to develop self-confidence, communication skills, social skills and musical skills. Our 'Break Through Music, funding offers musical respite activities within the health and social care sector as well as investing in our Music Leader workforce to increase the quality and impact of the work while also supporting their wellbeing. Trusts and Foundations A range of Trusts and Foundations support PMZ across the whole range of ages and varying groups of people that PMZ aims to work wtth. Donations and Fundraising The donations and fundraising from individuals towards keeping PMZ going made so much dIfferen- both in terms money but more importantly to the morale of the remaining PMZ staff. Byworking in collaboration, PMZ sUcedS in complementing existing provision to achieve more powerful outcomes for the beneficiaries, in line with identified local needs and strategic objectives within the city. This deepens the charity's social mission even further and strengthens its added value as an example of music leaming within a diverse and socially inclusive environment. PMZ'S overall vision and strategy is backed up by a financial strategy that aims to continue dtversifying PMZ'S income and supporter base through income in the areas of Public Grants, Trusts and Foundations, Individual Giving and Eamed Incomelcommissioning. Material Investsnents Policy The majority of funds are placed in high interest accounts. 14
Trustees, Report For the year ended 31 March 2025 Next Year- April 2025 to March 2026 2025-2026 will be a year we hope to consolidate and grow. PMZ plans to increase fundraising, have a small growth in the numbers of staff, volunteers and Trustees. Potential closure in the future will remain a risk. Our aims for the year continue but we must recognise that this is also in conjunction with a challenging funding picture for all charities within the sector. Any closure would be well planned with at least 3 - 4 months, notice which would enable a supportive transition for participants and staff, as well as ethical transfer of any assets in accordan with our Articles of Association. PMZ'S objectives include continuing to work with participants with a team of people who understand our participants and ensuring PMZ continues its mission: OUR PARTICIPANTS.. the vast majority who wouldn't otheDNise aCsS the creative arts OUR DIVERSE, DISABLED-LED TEAM.. representing years of investment in professional and lived experience and sustainable practi that translates directly to impact OUR OUTSTANDING TRACK RECORD OF INCLUSIVE, COLLABORATIVE PRACTICE: that creatively engages with both breadth and depth via place-based partnership working that brings considerable public benefit working annually alongside many cross sectoral organisations OUR FUTURE POTENTIAL: to build on our legacy of work with academic partners evidencing how PMZ has created wide ranging impact that evaluators and researchers say creates 'social and bridging community capital, across Plymouth OUR POWER AS ADVOCATES: to be a living, breathing example of the Arts Council's 'Let's Create, agenda sucsSfullY in action. Combined with a strong desire to protect inclusive ecosystems of creativity so that vital 'EDI' momentum achieved in the arts sector to date is not lost The main objectives for the coming year have been identified as: Consolidating and building the current service Continuing to seek funding with Trusts & Foundations, Public Funding, earned income as well as donations and community fundraising. Developing and maintaining meaningful relationships with current and new partners and stakeholders. Strengthening the staff team and Board of Trustees Upskilling of existing music leaders and attracting new music leaders Regular assessment of risks with appropriate responses. 15
Trustees, Report For the year ended 31 March 2025 And finalty Thank you to all our funders and partners, our staff, volunteers and Trustees. Most of all, thanks to all the participants who take part. You have made sure that PMZ is here for longer. PMZ could not have weathered this year without the incredible non-financial support of its community. staff, volunteers and Trustees. Everybody has done far more than on their job description. This included helping in the building. deaning. support in setting up for workshops and taking part in workshops. brokering partnerships and contacts. In short, being there with that listening ear, helping hand and words of advi. The list o)uld go on! A special thank you to all for the invisible but not unsung help and support. This feels like the right place to celebrate the Words of Wisdom project which began as an idea to collect up 'pearls of wisdom. that regardless of age. background and experience people might be able to offer one another. Never leave home without a smile on your face, and a tune in your heart htt s:IIwv4w. I mouthmusiczone.or .uklwords-of-wisdoml Please look at our webstte and from there our other media channels. Please feel free to follow and donate to PMZ to help us do more. mouthmusiczone.or 16
Plymouth Muslc Zone Limited statement of Directors and Trustees Responsibilities The Charities Act and the Companies Act require the Board of Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity as at the end of the financial year and of the surplus or deficit of the charity. In preparing those financial statements the Board is required to'.- Select suitable accounting policies and then apply them consistently. Make judgements and estimates that are reasonable and prudent. Prepare the finan¢ial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business. State whether applicable accounting standards and statements of recommended praclt¢e have been followed, subject to any matertal departures disclosed and explained in the financial statements. The Trustees are also responsible for maintaining adequate accounting records which disclose with reasonable accuracy at any time the financial position of the charity and which are sufficient to show and explain the charity's transactions and enable them to ensure that the financial statements comply with the Companies Act 2006 and comply with regulations made under the Charities Act. They are also responsible for the Gontents of the trustee's report, and the responsibility of the independent examiner in relation to the trustees, report is limited to examining the report and ensuring that, on the face of the report, there are no inconsistencies wtth the figures dis¢losed in the financial statements. This report was approvod by the board of trusteès on ? 2025 C Hunt Director and Chair of thè Trustees 17
Plymouth Muslc Zonè Limited Independent Examinevs Report to the Trusteès of Plymouth Music Zone Limited I reportto the charity trustees on my examination ofthe accounts ofthe company forthe year ended 31 March 2025 which are set out on pages 19 to 33. Rosponsibilitios and basls of r8POrt As the charity trustees of the company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act,). Having satisfied myself that the accounts of the company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your company's accounts as carried out under section 145 of the Charities Act 2011 ('the 2011 Act,). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5){b) of the 2001 Act. Independent oxaminerfs statement I have completed my examination. I confimi thal no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect- accounting records were not kèpt in respect of the company as required by section 386 of the 2006 Act., or the accounts do not accord wrth those records., or the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a 'true and fair view, which is not a matter considered as part of an independent examination-, or the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for Accounting and Reporting by Charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102). I have no concems and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. Signed.. Guy lan North¢ott FCA Bsc{Econ)Hons, DChA For and on behalf of Northcott Trumfield Chartered Acco tants Devonshire Villa 52 Stuart Road Stoke Plymouth PL3 4EE Date: 2025 18
Plymouth Music Zone Limited Year ended 31 March 2025 Statement of Financial Activities (including Income and Expondituro Account) 2025 Restrictad funds 2024 Total funds Unrostrictsd funds Total funds Note Income and endowments from: Donations and legacies Charitable activities Other trading activities Investment in¢ome 45,108 45,108 132,210 10,283 1,729 9,791 246,838 8,079 6,573 132,210 2,850 7,433 1,729 Total income and endowments 54,270 135,060 189,330 271,281 Expendlture on: Charitable activities Other 85,596 156,700 242,296 340,935 2,878 Total 8xp8nditur8 85,596 156,700 242,296 343,813 Net incomel(expenditure) (31,326) (21,640) (52,966) (72,532) Trdnsfers between funds 16 (46,211) 46.211 Net movement in funds 77,537 24,571 52,966 72,532 Reconciliation of funds Total funds brought fOard 16 145,886 4,806 150,692 223,224 Total funds carried forward 16 68,349 29,377 97,726 150,692 All income and expenditure is derived from contlnulng activlties 19
Plymouth Muslc Zone Limited Year ended 31 March 2025 Statement of Financial Position 2025 2024 Note Fixed Assots Tangible assets 4,035 37.689 Currant Assets Debtors Cash at bank and in hand 12 18.302 84,715 37,127 89.071 103.017 126.198 Creditors falling du8 Inside one year 13 9.326 13,195 Net curront assots 93,691 97,726 113,003 150,692 Creditors falling due after more than one year Provlslons for liabilities and charges Total Net Assets 97,726 150.692 Charity Funds Unrostricted funds 16 68,349 145,886 Restricted funds 16 29.377 4,806 97.726 150,692 These accounts have been prepared in aGcordance with the provisions applicable to companies subject to the small ompanies regime. For the year ending 31 March 2025 the company was enlitled to exemption from audit under section 477 of the Companies AGt 2006 relating to small companies. Directors. responsibilities.. The members have not required the company to obtain an audit of its accounts for the year in question in a¢Gordance wrf(h section 476. The directors acknowledge their responsibiliti'es for complying wtth the requirements of the Act with respect to accounting records and the preparation of accounts. The Financial Statements were approved and aLrthorised for issue by the Trustees on 2025 and signed on their behalf by.. Chair of Trustees C Hunt Company registration number 004653409 The notes on pages 21 to 33 fomi part of these a¢¢ounts. 20
Plymouth Music Zone Limited Notes to the Accounts for the year ended 31 March 2025 Accounting policies (a) Basis of preparation of the accounts Plymouth Music Zone Limited is a company limited by guarantee in England and Wales. In the event of the charity being wound up, the liability in respect of the guarantee is limited to £1 per member of the charity. The address of the registered office is given in the charity information on page 1 of these financial statements. The charity constitutes a public benefit entity as defined by FRS 102. The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) issued in October 2019, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102), the Companies Act 2006 and UK GenerallyAccepted Accounting Practice. Going Concern - The organisation has been monitoring the financial situation very closely over the last 3 years in light of the ever increasing competition for funding. Reserves were drawn down upon to support the organisation but the Trustees and Leadership Team agreed that there should also be a proportionate reduction in costs. This involved voluntary redundancy being offered to senior staff. This resulted in a reduction in employment costs whilst keeping a staff team able to continue with delivering to existing and new funding. PMZ remains vigilant of rts financial position but confident that it can attract new funding to move into a more secure future. The financial statements are prepared on a going concern basis under the historical cost convention as there are no material UnrtaIntieS existing. The financial statements are presented in sterling which is the functional currency of the charity and rounded to the nearest The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated. (b)Fund Accounting General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtheran of the general objectives of the company and which have not been designated for other purposes. Designated funds comprise unrestricted funds that have been set aside by the trustees for particular purposes. The aim and use of each designated fund is set cut in the notes to the financial statements. Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the charity for particular purposes. The cost of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements. Unrestricted funds are available for use at the discretion of the trustees in furtherance of the general objectives of the charity and which have not been designated for other purposes. 21
Plymouth Music Zone Limited Notes to the Accounts for the year ended 31 March 2025 {c}Incoming Resources All income is recognised once the company has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably. Donated services or facilities are recognised when the company has control over the item, and conditions associated with the donated item have been met, receipt of economic benefit for the use of the company of the item is probable and that economic benefit can be measured reliably. In accordance with the Charities SORP (FRS102). the general volunteer time of the Friends is not recognised and refer to the Trustees, report for more information about their contribution. On receipt, donated professional services and donated facilities are recognised on the basis of the value of the gift to the company which is the amount the company would have been willing to pay to obtain SeNiS or facilities in expenditure in the period of receipt. (d)Investment Income Income from investments is included in the yearwhich it is receivable. (e)Deferred income In accordance with the SORP grants received in advance and specified by the donor as relating to specific accounting periods or alternatively which are subject to conditions which are still to be met, and which are outside the control of the charity or where it is uncertain whether the conditions can or will be met, are deferred on an accruals basis to the period to which they relate. Such deferrals are shown in the notes to the accounts and the sums involved are shown as creditors in the accounts. (nExpenditure Expenditure (including redundancy costs) is recognised On there is a legal or constructive obligation to transfer economic benefrt to a third paty, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs. including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset's use. 22
Plymouth Music Zone Limited Notes to the Accounts for the year ended 31 March 2025 {g>Tangible fixed assets and depreciation All assets costing more than £250 are capitalised. A review for impairment of a fixed asset is carried out if events or changes in circumstances indicate that the carrying value of any fixed asset may not be recoverable. Shortfalls between the carrying value of fixed assets and their recoverable amounts are recognised as impairments, Impairment losses are recognised in the Statement of Financial Activities in incorporating income and expenditure account. Tangible fixed assets are carried at cost, net of depreciation and any provision for impaimient. Depreciation is provided at rates calculated to write off the cost of fixed assets, less their estimated residual value, over their expected useful lives on the following basis.. Short-term leasehold property- Straight line over the life of the lease Plant and machinery-15 years straight line Motor vehicles_ 25 % reducing balan Fixtures, fittings and equipment- 25% straight line {h)Debtors Trade debtors and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued atthe amount prepaid net of any trade discounts due. (i)Pensions The company operates a defined contribution pension scheme and the pension charge represents the amounts payable by the company to the fund in respect of that year. (i)Cash at bank and in hand Cash at bank and in hand includes cash and short temi highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account. (k)Recognition of liabilities Liabilities are recognised on the accwals basis in accordance wrth normal accounting principles, modified where necessary in accordance with the guidanTr given in the SORP. 23
Plymouth Music Zone Limited Notes to the Accounts for the year ended 31 March 2025 (l}Critical accounting estimates and area of judgement Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circUmstans. Critical accounting estimates and assumptions.. The Charity makes estimates and assumptions concerning the future. The resulting accounting estimates and assumptions will, by definition, seldom equal related actual results. The estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are discussed below. Depreciation rates of fixed assets and the calculation of certain year end accruals. (m)Financial instruments The company only has financial assets and liabilities of a kind that qualify as basic financial instruments, Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method. (n)Taxation As a registered charity, the company is an exempt charity within the meaning of schedule 3 of the Charities Act 2011 and is considered to pass the tests set out in Paragraph 1 Schedule 6 Finance Act 2010 and therefore it meets the definition of a charttable company for UK corporation tax purposes. Value Added Tax is not recoverable by the company, and is therefore included in the relevant costs in the Statement of Financial Activities. Donations and legacies Unrestricted Funds 2025 2024 Donations 45,108 9,791 24
Plymouth Music Zone Limited Notes to the Accounts for the year ended 31 March 2025 Contracts and grants Restricted Funds 2025 2024 Youth Music Zone Grant Arts Council England Grant other funders Garfield Foundation 48,101 68,809 15,300 55,006 149,132 22,700 20.000 132,210 246,838 Other trading activities Unrestricted Funds 2025 2024 Music sessions 7,433 5,229 Restricted Funds 2025 2024 Music sessions 2,850 2,850 Investment income Unrestricted Funds 2025 2024 Bank interest 1,729 25
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Plymouth Music Zone Limited Notes to the Accounts for the year ended 31 March 2025 Net income for the financial year 2025 2024 This is stated after charging Depreciation Independent Examinerfs Fees 560 2,400 3,803 2,400 Governance costs 2025 2024 Independent Examination Administrative costs 2,400 763 2,400 478 3.163 2,878 Trustees, and key management personnel remuneration and expenses The trustees neither received nor waived any remuneration during the year (2024 £nil). The trustees did not have any expenses reimbursed during the year (2024 £nil). The total amounts of employee benefits received by key management personnel is £118,340 (2024 £175,388). The charity considers its senior rnanagement team as its key management personnel. 10 Staff costs and employee benefits 2025 2024 Salaries and wages Social security Defined contribution pension costs Accountancy services Business support Redundancy- fully paid 94,534 2,222 3,251 18,994 4,500 56,730 239,576 14.590 8,717 20,210 180,231 283,093 The average monthly number of employees and full-time equivalent (FTE) during the yearwas.'- 2025 Number 2024 Number Charitable activities 12 No employees reTrived total employee benefits (excluding employer pension costs) or more than £60,000. 28
Plymouth Music Zone Limited Notes to the Accounts for the year ended 31 March 2025 qq Tangible fixed assets Freehold Leasehold Equipment Land and Land and and Buildings Buildings Instruments Total Cost Balan brought down Additions Disposals Balance carried down 25,845 39,129 130,881 195,785 25,845 31,039 8,090 80,873 106,892 114,982 Depreciation Balance brought down Depreciation Disposals Balance carried down 12,310 20,699 385 16,564 125,085 158,096 175 560 18,833 47,707 106 427 110,947 12,310 Net Book Value 31 March 2025 3.570 465 Net Book Value 31 March 2024 13,535 5,724 37,689 12 Debtors 2025 2024 Trade debtors Prepayments Accrued income 1,620 2,775 13,907 1,140 2,875 33,112 18.302 37,127 13 Creditors falling due inside one year 2025 2024 Trade creditors Accruals Other taxes and social security Deferred income Other creditors 5,461 2,565 1,002 4,329 2.640 4,514 298 1,712 9,326 13,195 14 Related Party Transactions There were no related party transactions in the year. 29
Plymouth Music Zone Limited Notes to the Accounts for the year ended 31 March 2025 15 Fund reconciliation Funds of the charity Balance Brought Income Expenditure Forward Transfer Transfer Balance In Out Carried Forward Unrestricted funds 54,270 3,708 50,562 Designated funds Development Building and repair Redundancy and staff costs Innovation fund Fixed asset 27,097 10,000 71,100 11,247 38,344 10,000 15,970 56,730 1,600 37,689 25,158 8,496 4,035 145,886 59,058 Restricted funds Youth Music Arts Council England Sensory Other Donors 48,101 68,809 56,813 8,712 53,772 14,340 3,345 2,680 42,770 20,479 29,377 665 4,141 18,150 4 806 135,060 156,700 46,211 Total 150,692 189,330 242,296 59,058 59,058 97,726 30
Plymouth Music Zone Limited Notes to the Accounts for the year ended 31 March 2025 15 Fund reconciliation continued Funds of the charity Balance Brought Income Expenditure Forward Transfer Transfer Balance In Out Carried Forward 2024 Unrestricted funds 21,593 6,738 14,855 Designated funds Development Building and repair Redundancy and staff costs Innovation fund Fixed asset 73,995 30,000 62,000 6,060 40,794 46,898 27,097 20,000 10.000 71,100 9,100 6,060 3,105 37,689 212,849 21,593 6,738 90,918 145,886 Restricted funds Youth Music Arts Council England Sensory other Donors 55,006 149,132 2,850 10.375 42,700 69,486 183,805 5,669 78.115 14,480 34,673 3,484 29,181 665 4,141 10 375 249 688 337,075 81,818 4.806 Total 223,224 271,281 343,813 90,918 90,918 150,692 31
Plymouth Music Zone Limited Notes to the Accounts for the year ended 31 March 2025 15 Fund reconclllatlon continued Purpose of Unrestricted funds Development fund - To meet any deficits not covered by income in any one year and to enable the Charity to continue its operations in the event of major withdrawal of external funding The Charity considers it prudent to establish reserves to support 3-6 months trading. Building and repairs is to cover possible repairs to the building, sound studios and other related expenditure. Redundancy and staff related costs is to cover any exceptional staff related casts, such as redundancy, legal expense and any rewardlbonus schemes should they occur. Innovation fund Is to cover the costs to develop new cutting edge projects. The unrestricted fixed asset fund is to hold a fund for unrestricted assets purchased so as not to burden future funding with depreciation costs. The general fund represents funds not restricted or designated for any specific purpose. Transfers tolfrom Unrestricted funds Surplus general funds have been transferred to the Charity's designated reserves. Purpose of Restricted funds Arts Council England National Portfolio 2019 - 2022. Funding to encourage a diverse range of people to engage with music both as staff and participants, be inspired and creative. The National Lottery Community Fund Changing Tunes which uses the power of music to reduce isolation by breaking down barriers to interaction and understanding between the generations. Youth Music Breakthrough Music- funding for o- 18 years (25 years with special needslat risk) to access music making. National Lottery Community Fund - Trusts and Foundations Work to support older people, adults with neurological conditions, families at domestic abuse refuges, children with complex and multiple disabilities, and an exchanging learning project is invested in by a number of private funders. Transfers tolfrom Restricted Funds Where finished projects have generated a surplus, these funds are transferred to unrestricted funds once restrictions have been met. Where a project generates a deficit, a transfer of funds is made from unrestricted funds to cover the funding gap. 32
Plymouth Music Zone Limited Notes to the Accounts for the year ended 31 March 2025 16 Analysis of net assets between funds 2025 Unrestricted Designated Restricted funds funds funds Total Fixed Assets Net current assets 4,035 93,691 4,035 64,314 29,377 68,349 29,377 2024 Unrestricted Designated Restricted funds funds funds Total Fixed Assets Net current assets 37,689 145,886 37,689 108.197 4,806 150,692 145,886 4,806 17 Pensions The charity operates a defined contribution pension plan for its employees. The amount recognised as an expense in the period was £3,251 (2024 £8,717). 33