2023-07-31-accounts

Advisors and administrative details
Trustees' annual report
Trustees' statement ofrespohsihilities
independent auditor's report tothe members
Statement offmanciat activitiee
(Incorporating tile inpome and expenditure. account)
Balance sheet

ADVISORS AND ADIIIItIISTRATI	VE DETAI 8	VE DETAI 8
REGISTERED CHARITY NAME	Universal Music UK Sound		Foundatibn
CHARITY NVMBER	1104027
COMPANY REGISTRATION WVMBER	06062390'
REGISTERED OFFICE	4Pencras Square
	London
	N.1C4AG
TRVSTEES	Laora Arcwolo
	Charles Ashcrott
	Adam Barker (Chair)
	YolanDa Brown OBE(appointed 3 August 2023)
	Raut Gambaccini
	Keith.Harris OBE
	JoBibbitt.
	LealieBill
	David Hughes MBE
	Rupert Perry CBE(resigned		10October 2023)
	Tony Wadswotth	CBE
AVDITOR	Cooper Fany Group Limited
	Storey at 1FA
	1 Finsbury Ave
	Broadgate
	EC2M2PF
	Barctays Bank pic
	75Kings Street
	Hammersmith
	London
	W6 9HY
SOLICITORS	BDP Pitmans Ll.P
	One Berth o!omew	Ciuse
	London
	EC1A 7BL
INVESTMENT MANAGERS	Evelyn Partners
	45 Gresham Street
	'London
	ECZV 7BG
	Rathbone tarothers	Pto
	8Finsbury Circus
	London
	EC2M 7AZ

			Unrestricted Fund	Restricted Fund	Tetal Funds	Unrestdcted Fund	Restricted Fund	Total Funds
			2023	2023	2023	2022	2022	202?'
		NOTE						6
INCOME
Donatiens		2	195.460	30,000	225360	212,560	2,079	2 1.4,639
Investments		3	197,938		19'/.938	202,425		202,425
TOTAL DSCOMK			'393,398	30,000*	423498	414,984	2,079	'117,064
DEPEND ITURE
investment management	coata		(54,344)		(54344)	(60,810)	-	(60/110)
Charitable aetiv'ities			(693,820)	(5,018)	(698,838)	(635,378)	(316)	(635,694)
TOTAL EXPENDITURE			(748,164)	(5,018)	(753,182}	(696,188}	(316)	(696,$04)
ET(KEPENDITURE)/ VICOME
EEFDRE1NVESTMENT DA1N/8			(354,766)	24,982	(329,784}	(281.204)	1,763	(279,440)
Reaiued (losses)/gsins	an disposal of		(56,S29)		(56829)	(69,41!5)		{69„485)
investmenls
Umest Ised (losses)/gsins	on investments'		.(85385)		(8&85)	(246277)		(246.3771
Nct (losses)/gsins on invcstmcnts			O42,714)		(142,'714)	(315,862)		(315,862)
NET (EXPENDITURE)l INCOhl EFOR
THE TEAR/IVKTMOVERIENTIN
FtlNDS			(497,480)	24R82	(472,498)	(597,066}	1763	(59$,302)
RECONCHJAT!ON	OF FUNDS
Total funds brendt fora'ard			7,405,45$	?Q 104	7/126 569	8,002,521	18,341	8,020,861
Nct mcvcibcnt in (ands			'(497,480)	24,982	(472,49S)	(597,066)	1.763	(595,301)
TOTAL Fl/14DS CARRIED FORVVARD			6,907,975	45,0S6	6,953,061	7,405,455	20,104	7,42$,559

				Unrestricted Fund	Restneled Fund	Total Funds	Unrestricted Fund	Reshicted Fund	Total Funds
				2023	2D23	2023	2022	2022
			NOTE
FIRERASSETS
Investments	in subsidiaries					I			I
Other investments			10	6,933;125		6433,125	.'I,418C05		7,418805
				6,933,126		6,933,126	7,418,906		7,418,906
CURRKIIT	ASSETS
Debtors			Lb	222		222	222	(0)	222
Cash at bank				8,355	45,086	53,441	5,864	20,353	26,"17
				8,577	45,086	53,663	6„086	20,352	26,438
CREBITORS: amounts		fallingduervilhin
ene yeas"			12	(33;728)		(33,728)	(19'537)	(248)	(19785)
NKT CURRENT ASSETS/(LIABILITIES)				(25,1517	45,086,	19935	{13,451)	20.104	6,653
ItKT ASSETS				e,9D7,975	45,086	6$953,061	7,405,455	20,104	7425,s59
Ftliung
Uuresuicted			13	6,907,975	-	6,907,975	7.405,455	-	7,405,455
Restricted			13		45,086	45,086	-	20,104	20,104
TOTAL FUIRBS				6,907.975	45,086	6,953,061	7,405,455	'20.104	7,425,559

.	DONATIONS
			Unrestricted	Restricted	Total Funds	Total Funds
			Funds	Funds	2023	2022
Donations		received	10,000	30,000	40,000	12,079
Donated.		services and facilities	185,460		185,46(l	202,560
			195„460	30,000	225,460	214,639

			Unrestricted	Restricted	Total Funds	Total Funds
			Funds	Furltls	2023	2022
			f,			5
Income	from	investments	197,938		197,938	202,425

rant expenditure is in furtherance	ofthe Charity's objecti	ves.
	V» aeeriatad	n	t ieted	Toe iF	d	Total rued
	Funds		Funds	2023		2022.
	f					f
Donations to schools	233,391			233e391		165,077
Donations to individuals	93f220			93,226		108,559
Blirssfles	65,000		5,000	70,000		65,000
SchOO(S PrOje~t	112,847			II2e847		83,727
Other			18	18		'r49
Grant expenditure	504,458		5,018	509,476		'422,612
Support costs (note 6)	170,460			170,460		182,560
Governance costs (note 5)	18,902			18,902		30,522
	693,820		5,018	698,838		635,694

hiouement in market val	ue	oflist	ed mvestm'ant	s
						2023	2022
Market value at 1 August						6&910,270	7,857,718
Acquisitions at cost						2,262,506	740,952
Disposals atmarket value						.(2+34&905)	(1,372,538)
Net (losses)/gains on revaluations'			in the year			(142,'714)	(315,862)
iviarket value at313uly						6&795357	6,910,270
Historicai cost at 31luly						5,951,318	5,776,447
Anstysis ofinvestments	asst31duty between			funds
						Total Funds	Total Funds
						2023	2022
Listed investmeats
UK Quhted entitics						1,8562193	2,162,055
Non-(/K t)noted entities						3484,834	3,404,101
UKfixed interest						67,790	99,518
Non-UK fixed interest						90,256	92,790
UK —other investments						707,614	588&356
Non-UK- other investments						687,,770	563,450
						6,795,157	6,910,270
Other investmeuts
UK Cash held as part ofPortfotib						137&968	508;635
						6&933&125	7,418;905
11. DEBTORSi Amounts		falling due within		one year
			Unrestricted		Restricted	Total Funds	Total Funds
				Funds	Funds	2023	2022
				5	5	5	f
Amounts, oived by group undertakings				222		222	222
Accrued donation income							(0)
				222			221
								20