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| ## ## ## ## ## ## ## ## ## ## ## |2.|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| ## ## ## |8.|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|