2021-03-31-accounts - The Music Works (Charity)

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The Music Works (Charity) Company Limited by Guorontee ANNUAL REPORT AND ACCOUNTS 1 April 2020 - 31 Morch 2021 COMPANY REGISTRATION NUMBER.* 05195345 CHARITY REGISTRATION NUMBER: 1106979

							2021	2020
					Unrestricted	Restricted	Total	Total
					funds	fund	funds	funds
				Notes	E	E	f	E
INCOME AND ENDOWMENTS			FROM
Charitable	activities
Donations					5,450	97,31'I	102,761	60,704
Grants					112,125	1,339,862	1,4.51,987	423,758
Investment	income				93		93	310
Other income					74,700	57,113	131,813	147,330
Total					192,368	1,494,286	1,686,654	632,102
EXPEhlDITURE ON
Charitable	activities
Charitable	Activities				43,358	450,653	494,011	415,859
Fundraising	Costs				19,475		19,475	25,807
Governance	Costs				6,470		6,470	3,143
Other Day	to Day Iulngmt Costs				86,828	161,022	247,850	158,288
Total					156,131	611,675	767,806	603,097
NET IhlCOME					36,237	882,611	918,848	29,005
Transfers between		funds		13	09,242)	19,242
Net movement in funds					16,995	901,853	918,848	29,005
RECONCILIATION		OF FLINDS
Total funds	brought	forward			149,700	483,195	632,895	603,890
TOTAL FUNDS CARRIED FORWARD					166,695	1,385,048	1,551,743	632,895

POSITION 31MARCH 2021
				2021	2020
		Unrestricted	Restricted	Total	Total
		funds	fund	funds	funds
	Notes	E	E	E	E
FIXED ASSETS
Tangible assets	10		902,089	902,089	39,580
CURRENT ASSETS
Debtors	11	1,920	61,775	63,695	71,502
Cash at bank		176,802	484,801	661,603	540,313
		178,722	546,576	725,298	6'I1,815
CREDITORS
Amounts falling due within one yeor	12	(12,027)	(63,617)	(75,644)	(18,500)
NET CURRENT ASSETS		166,695	r82,959	649,654	593,315
TOTAL ASSETS LESSCURRENT
LIABILITIES		166,695	1,385,048	1,551,743	632,895
NET ASSETS		166,695	1,385,048	1,551,743	632,895
FUNDS	13
Unrestricted funds				166,695	149,700
Restricted funds				1,385,048	483,195
TOTAL FUNDS				1,551,743	632,895

FOR THE	YEA	R ENDED 31	MARCH 2021
			2021	2020
		Notes	5	E
Cash flows from	operating	activities
Cash generated	from operations 1		1,133,721	37,463
Net cash provided by operating activities			1,133,721	37,463
Cash flows from	investing	activities
purchase oftangible fixed		assets	(1,012,524)	(41,334)
Interest received			93	310
Net cash used in	investing	octivities	(1,012,431)	(41,024)
Change in cash	and cash equivalents
in the reporting	period		121,290	(3,561)
Cash and cash equivalents		at the
beginning ofthe	reporting	period	540,313	543,874
Cash and cash equivalents		at the
end ofthe reporting period			661,603	540,313

THE YE	AR ENDED	AR ENDED	31MARCH 20	21
RECONCILIATION	OF NET INCOIVIE		TO NET CASH FLOW FROM	OPERATING	ACTIVITiES
				2021	2020
				E	E
Net income for the	reporting	period	(as per the Statement of
Financial Activities)				9'IB,B48	29,005
Adjustments for:
Depreciation charges				150,015	14,510
Interest received				(93)	(310)
Decrease/(increase)	in debtors			7,807	(15,600)
Increase in creditors				57,144	9,858
Net cosh provided	by operations			1,133,731	37,443

ANALYSIS OF CHANGES IN NET	FUNDS
	At 1/4/20	Cash flow	At 31/3/21
	E	E	E
Net cash
Cash at bank	540,313	121,290	661,603
	540,313	121,290	661,603
Tota I	540,313	121,290	661,603

INVESTMENT INCOME	INVESTMENT INCOME
			2021	2020
			E	E
Bank Interest			93	310
INCOME FROM CHARITABLE ACTIVITIES
			2021	2020
		Activity	E	E
Donations Trusts &
Foundations		Donations	95,150	6,750
Donations Individuals		Donations	2,450	3,954
Donations - Chk		Donations		50,000
Foundation
Donations —Fundraising		Donations	5,'I61
Glaucester County	Council	Grants	59,400	27,360
Paul Hamlyn Foundation		Grants	11,717	23,683
Glos Healthy Living	&
Learning		Grants	13,000	21,000
Glas Clinical Comm	Group	Grants	46,000	20,000
Gloucester Culture	Trust	Grants	30,000	10,677
Help Musicians UK		Grants	8,040	10,660
Real Ideas Organisotion		Grants	23,000	10,000
Caring for
Communities&People		Grants	7,500	7,500
PRS Foundation		Grants	19,412	5,4'I2
Arts Council England		Grants	357,460	47,941
Barnwood		Grants	40,000	300
iMake Music Gloucester		Grants	220,755	206,875
Youth Music		Grants	35,963	29,870
Foundation Hause		Grants		2,480
Arts Council England
CowdFund		Grants	38,500
Children ln Need		Grants	10,000
JlkH Rausing		Grants	50,000
National Lottery		Grants	10,000
Other Emergency Grants		Grants	11,865
SESF		Grants	50,000
Youth Music Covid Fund		Grants	9,125
Other Gronts		Grants	29,750
Garfield Weston		Grants	90,000
Glos Disability Fund-		Grants	2,500
Punky
I-Iigh Sheriff		Grants	2,500
St.James Place		Grants	105,000
Thirty Percy		Grants	99,500
Youth Support		Grants	5,000
Severn Trent Water		Grants	36,000
Summerfield Charitable
Trust		Grants	30,000
			t,tte,tee	tehtet

			Support
		Direct	costs (see
		Costs	note 5)	Totals
		E	E	E
Charitable	Activities	216,511	277,500	494.011
Fundraising	Costs		19,475	19,475
Governance	Costs		6,470	6,470
Other Day	to Day Mngmt Costs	246,931	919	247,850
		463,442	304,364	767,806
SUPPORT	COSTS
			Governance
		Management	costs	Totals
		E	E	E
Charitable	Activities	277,500		277,500
Fundraising	Costs	19,475		19,475
Governance	Costs		6,470	6,470
Other Day	to Day Mngrnt Costs	919		919
		297,894	6,470	304,364

Net income/(expenditure) is stated after charging/	(crediting):
	2021	2020
	E	E
Auditors' remuneration	3,600
Other non-audit services	1,800
Depreciation —awned assets	150,015	14,510

STAFF COSTS
						2021	2020
							E
Woges and salaries						258,876	222,089
Social security costs						30,890	23,844
Other pension costs						9,379	7,936
						299,145	253,869
The overage monthly	number of	employees		during the year	was as follows:
						2021	2020
Adrninistrotior and	manogement					14	11
hlo employees received emoluments			in excess of 560,000.
COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
				Linrestricted		Restricted	Total
					funds	fund	funds
					5	f	5
INCOME AND ENDOWMENTS		FROM
Charitable activities
Donations					1,000	59,704	60,704
Grants						423,758	423,758
investment income					310		310
Other income					93,046	54,284	147,330
Total					94,356	537,746	632,102
EXPENDITLIRE ON
Charitable activities
Charitable Activities					614	415,245	415,859
Fundraising Costs					25,807		25,807
Governance Costs					3,143		3,143
Other Day ta Day Mngmt Costs					64,596	93,692	158,288
Total					94,160	508,937	603,097
NET INCOME					196	28,809	29.005
RECONCILIATION OF FUNDS
Total funds brought	forward				149,504	454,386	603,890
TOTAL FUNDS CARRIED FORWARD					149,700	483,195	632,895

10.	TANGIBLE FIXEDASS	ET	S
						Fixtures
				Freehold	Short	and
				property	leasehold	fittings	Tote Is
				E	E	E	E
	COST
	At 1 April 2020				23,756	90,120	113,876
	Music Studio - additions			881,377		131,147	1,012,524
	At 31 March 2021			881,377	23,756	221,267	1,126,400
	DEPRECIATION
	At 1 April 2020				2,376	71,920	74,296
	Music Studio - Charge for		year	88,138	2,138	59,739	150,015
	At 31March 2021			88,138	4,514	13'I,659	224,311
	NET BOOK VALUE
	At 31 March 2021			793,239	19,242	89,608	902,089
	At 31 March 2020				21,380	18,200	39,580
11.	DEBTORS:AMOUNTS	FALLING DUE WITHIN ONE YEAR
						2021	2020
						E	f
	Trode debtors					61,775	69,709
	Prepayments					1,920	1,793
						63,695	71,502
12.	CREDITORS: AMOUNTS		FALLING DUE WITHIN ONE YEAR
						2021	2020
						6	6
	Trade creditors					2,022	18,500
	Accrued expenses					73,622
						75,644	18,500

MOVEMEN	T	IN FUNDS
				Net	Transfers
				movement	between	At
			At 1/4/20	in funds	funds	31/3/21
				f	E	E
Unrestricted		funds
Unrestricted		Fund	149,700	36,237	09,242)	166,695
Restricted	funds
Restricted	Fund		483,I95	882,611	19,242	1,385,048
TOTAL FUNDS			632,895	918,848		1,551,743

Net movem	ent in funds, included in th	e above are as follows:
		Incoming	Resources	Iulovement
		resources f	expended E	in funds f
Unrestricted funds
Unrestricted	Fund	192,368	(156,131)	36,237
Restricted	funds
Restricted	Fund	1,494,286	(611,675)	882,611
TOTAL FUNDS		1,686,654	(767,806)	918,848

				Net
				movement	At
			At 1/4/1 9	in funds	31/3/20
			f	f	E
Unrestricted		funds
Unrestricted		Fund	149,504	196	149,700
Restricted	funds
Restricted	Fund		454,386	28,809	483,195
TOTAL FUNDS			603,890	29,005	632,895

Comparativ	e net movement in funds,	included in the above are as fo	llows:
		Incoming	Resources	Mavement
		resources f	expended f	in funds f
Unrestricted funds
Unrestricted	Fund	94,356	(94,160)	1915
Restricted	funds
Restricted	Fund	537,746	(508,937)	28,809
TOTAL FUNDS		632,102	(603,097)	29,005

A current y	e	ar 12months and p	rior year 12months com	bined position	isas follows:
				Net	Transfers
				movement	between	At
			At 1/4/1 9	in funds	funds	31/3/21
			f	f	f
Unrestricted		funds
Unrestricted		Fund	149,504	36,433	(19,242)	166,695
Restricted	funds
Restricted	Fund		454,386	911,420	19,242	1,385,048
TOTAL FUNDS			603,890	947,853		1,551,743

A current year 12months and prior ye the above are as follows:	ar 12months combined net mo	vement in fund	s, included
	Incoming	Resources	Movement
	resources f	expended	in funds f.
Unrestricted funds
Unrestricted Fund	286,724	(250,291)	36,433
Restricted funds
Restricted Fvnd	2,032,032	(1,120,612)	911,420
TOTAL FUNDS	2,318,756	(1,370,903)	947,853

			2021	2020
			f	f
INCOIVIE AND ENDOWMENTS
Investment income
Bank Interest			93	310
Charitable activities
Donations Trusts 8	Foundations		95,150	6,750
Donations in dividu a Is			2,450	3,954
Donations - Chk Foundation				50,000
Donations - Fundraising			5,i61
Glaucester County Council			59,400	27,360
Paul Hamlyn Foundation			11,717	23,683
Glos Healthy Living	ik Learning		13,000	21,000
Glas Clinical Comm Group Gloucester Culture Trust			46,000 30,000	20,000 10,677
Help Musicians UK			8,040	10,660
Real Ideas Organisation			23,000	10,000
Caring for Communities8		People	7,500	7,500
PRS Foundation			19,4'l2	5,412
Arts Council England			357,460	47,941
Barnwood			40,000	300
Make Music Gloucester			220,755	206,875
Youth Music			35,963	29,870
Foundation House				2,480
Arts Cauncil Engfand	CovidFuncf		38,500
Children In Need			10,000
Jlkl-I Rausing			50,000
National Lottery			10,000
Other Emergency Grants			11,865
SESF			50,000
Youth Music Covid Fund			9,125
Other Grants			29,750
Garfield Weston			90,000
Glos Disability Fund	—Pvnky		2,500
High Sheriff			2,500
St.James Place			105,000
Thirty Percy			99,500
Youth Support			5,000
Severn Trent Water			36,000
Summerfield Charitable		Trust	30,000
			1,554,748	484,462
Other income
Fees ond Controcts			42,396	59,770
Contributions from	projects		74,700	87,560
Carried forward			117,096	147,330

				2021 E	2020f
Other income
Brought forward				117,096	147,330
Sales				6,645
Other Income	- Furlough			8,072
				131,813	147,330
Total incoming	resources			1,686,654	632,102
EXPENDITURE
Charitable activities
Wages ond Salaries				258,876	222.089
Sacial security				30,890	23,844
Pensions				9,379	7,936
Insurance				1,793	2,014
Staff Training	and Development			12,489
Depreciation				150,015	14,510
				463,442	270,393
Support costs
Management
Management	and	Adrnin		80,048	107,084
Fundra ising				19,475	25,987
Venue Hire					30,940
Project Delivery Costs				166,748	113,931
Soundspace	Overheads				6,524
Publicity, Cornrns		&Marketing		16,396	31,431
Monitoring and Evaluation				6,289	7,783
Equipment Renewals				6,164	5,932
Svndry Expenses					118
Subscriptions	and	Memberships		2,774	'i,944
				297,894	331,674
Governance	costs
Auditors' remuneration				3,600
Auditors' remuneration			for non audit work	1,800
Accountancy	and	legal fees		1,070	1,030
				6,470	1,030
Totol resources expended				767,806	603,097
Net income				ere,loe	re,ooe