The Music Works (Charity) Company Limited by Guarantee ANNUAL REPORT AND ACCOUNTS 1 April 2023- 31 March 2024 COMPANY REGISTRATION NUMBER: 05195345 CHARITY REGISTRATION NUMBER: 1106979
CONTENTS Trustees, annual report (incorporating the trustses. report) 3-19 STRUCTURE, GOVERNANCE AND MANAGEMENT OBJECTS AND ACTIVITIES PUBLIC BENEFIT ACHIEVEMENTS AND PERFORMANCE PLANS FOR NEXT YEAR SAFEGUARDING FINANCIAL OVERVIEW RISK MANAGEMENT STATEMENT OF TRUSTEES. RESPONSIBILITIES AUDITORS Report of the independent auditors 20-22 OPINION BASIS FOR OPINION CONCLUSIONS RELATING TO GOING CONCERN OTHER INFORMATION OPINIONS ON OTHER MArrERS PRESCRIBED BYTHE COMPANIES ACT 2006 MAThERS ON WHICH WE ARE REQUIRED TO REPORT BY EXCEPTION RESPONSIBILITIES OF TRUSTEES OUR RESPONSIBILITIES FOR THE AUDIT OF THE FINANCIAL STATEMENTS USE OF OUR REPORT Statement of flnancial activities (incorporating an income and expenditur• account) 23 Statement of financial position 24 Statement of cash flows 25 Notes to the statement of cash flows 26 Notes to the financial statements 27-35 The following poges do not form part of the finoncial statements Detailed statement of financial activities 36-38
The trustee5. who are also the directors of the charity for the ptsrposes of company law, present their report and the financial statements of the charity for the year ended 31 March 2024. The trustees have udopted the provisions of Accounting and Reporting by Chorities: Statement of Recommended Practice, applicable to charities preparing their occounts in accordance with the Financial Reporting Standard. applicoble in the UK and Repvblic of Ireland (FRS 102) (effective 1 January 2019). Reference and administratlve details Registered charity name The Music Works (Charity) Charity registration number 1106979 Company registration number 05195345 Principal office ond registered office Kings House 27 St Aldate Street Glovcester GL11RP The directors Alexander Ross Versha Carter Jonathan Knight Stuart Coirn5 Notalie Sodzi Caroline Norbury Benjamin Conie Rupert Walters Barbra Mghoi Appointed 27 November 2015 Appointed 10 July 2017 Appointed 17 Augvst 2017 Appointed 19 November 2018 Appointed 25 March 2021 Appointed 28 October 2021 Appointed 23 May 2022 Appointed 26 september 2022 Appointed 10 November 2022 -resigned 28 July 2023 Appointed 25 November 2022 Appointed 11th December 2023 Appointed 25th Morch 2024 Gerald Doherty Gemmo Cropper Maheen Rasul Independent Auditor millholl consultants Itd Corlson Suite 4th Floor, Building 8 Vantage Point Business Village Mitcheldean Gloucestershire GL17 ODD TrvSteeS' report 11ncorpDratirt9 tho truStÈes' Qport)
STRUCTURE, GOVERNANCE AND MANAGEMENT Company information The Music Works (Charity) is a charitoble company limited by gvarontee, incorporated in England and Wale5 on 2 August 2004 under company number 05195345 and registered as a charity on 25 November 2004 vnder chority number 1106979. The compony was estoblished Under a memorandum of ossociation which details the objects and powers of the charitoble company and is governed under its articles of associotion. The name of the company wa5 changed from Forest of Dean Music Makers to Gloucestershire Music Mokers on 17th October 2011. In January 2015 a new troding name, 'The Music Works,, was agreed with the Charity Commission. Articles were adopted on 11th September 2017. The company name was changed to The Music Works (Charity) on 24th October 2018. Manugement Working under the direction of the board. the charity is led by the chief executive officer (CEO). A staff team of 32 (as of 31/03/2024) provide manogement and delivery functions. The staff team ond overall management of the charity is overseen by the board of trustees (who are also the directors of the charity). The charity olso uses approximately 18 freelance music leaders ond 66 volunteers to deliver its services. This allows essential flexibility to deliver a wide range of services across the county of Gloucestershire. Appointment of chair The chair is appointed from within the trustees or through open odvertisement. Method of recruiting and appointing new trvstses Recruitment is by open advertlsement based on identified skills, knowledge and competency gaps. The recruitment process is led by the CEO. They will work with the chair, whose responsibility it is to make any recommendations for appointment to the trustees for confirmation. We are committed to ensuring that at least half of our board are young people and/or those with lived experience of challenging circumstances. Trustws, onnual rep¢rt (snrpOratIng the tru5ttt5' rEwt)
Oryanisatlonal structure and dedslon-rnaking The trustees meet at least four time5 0 year to discuss the strategic direction of the charity. ensure its core aims and objectives are being met in the most eff icient way, take account of any risks to the charity and ensure thot all legal obligations are satisfied. Outside of meetings, the day-to-day business of the charity is delegated to the CEO ond through her to other staff. We also hove o governance framework that ensures young people are at the heart of our decision moking. C04XVNER Co-owner: young people on our board who make strategy decisions, evaluote impact and sign off budgets. Champion or influencer: young people who are actively involved in chompioning ond influencing music for other young people through The Music Works. They moy participate in our talent development programme (Upsurge). join a youth voice group or sit on our yovth advisory grovp. They advise on programming, hosting events and are actively engaged with delivering activity. Active participant: young people who have made the decision to get involved and do something. This might involve coming to a session, actively engaging with our social media or simply utilising our resources at home. CHAMPIONOR INFLINcER ¥5~ PARnCiPANr Follower: young people who are following our social media or have signed up to our newsletter. Observer: young people who hove heard of us and perhaps encountered us from time to time but aren't yet really engaging with us. Trbstees, onnuol report (intorpDrQting the tru5tee5' Prt) Th•bluskWortty(Charlty}
OBJECTS AND ACTIVITIES Objects. mission and values Our objects, os stated in our articles of 0sSOClOtion. are 'to advance the educotion of the public in the moking of music and related activities, particularly children and young people,. Within these governing parometers, our core mission is to inspire ond transform young lives through the power of music. We envision a world in which every young person can unleash their unique creativity and thrive in life. This year we worked with o totol of 8,181 young people - 4,781 through schools, community, educational settings ond studios ond a further 3,400 throvgh events. We have studi05 in Gloucester and the Forest of Deon but work ocross the county in schools ond with community partners. We're open to the whole community, but specifically torget young people from challenging circumstances who are underrepresented in the creative sector. This includes those from poorer socioeconomic backgrounds, young offenders, those experiencing poor emotional and mental healthj young people who are nevrodivergent, D/deof and disobled young people, LGBTQ+ young people and those from Black. Asion and diverse ethnic communities. We remain committed to enhancing the lives and outcomes of those we work with and ore proud that our wellbeing doto from this year. reveals a significant increase in high and medium wellbeing scores following young people's participotion in our progrommes ond o decrease in low wellbeing Scores. We believe that everyone has creative potentiol ond that talent of every kind should be nurtured and celebrated. We work with young people to engage them through music and creotivityi to build confidence, self-belief and motivation ond to empower them to reach their potentiol in music, in learning ond in life. We strive for quolity ond ortistic excellence without compromising accessibility. All of our work is underpinned by our core valves of authenticity. inclusivity, youth-led, scalability and innovcstion and is delivered using a theory of change based on the self- determination theory (SDT) - one of the most well-evidenced fromeworks for improving empowerment, wellbeing and motivotion. It hos three components". Autonomy. our whole opproach is led by young people ond focuses on supporting them to feel in control. We help them make the music thot they want to make, at their own pace and in their own woy. Competence: so often the young people that we work with hove not felt successful in their lives. We're all about making them feel good at something and our music leaders are highly skilled at finding woys to draw ovt and celebrate success in o way that's meoningful to each individual. Relatedness: this is about making the young person feel connected. Initiolly this will focus on connection with the mvsic leader, but, over time, we will facilitate connectedness with other young creotives either through making mvsic together, performing together or just honging out in the same creative space. Core artivitl•s We provide the only comprehensive non-classical music offer in the county, from first access to talent development. We help young people to make whatever mu51C they're passionate about, from pop to rop, indie to dance and beyond. We specialise in contemporary music. Particulorly music technology and production, singing and songwriting as well as rap and beotboxing. We've found that these ore often the most accessible forms of music and achieve the best ovtcomes. Trustee5' annuol report (Incorporoting thÈtru5tees' Th7port) Th* MuskWorks(Chorlty)
We work with children and young people aged 8 to 30 years who are of oll abilities, from absolute beginners to some of the covnty's most gifted and talented contemporary musicians. Our core programmes fall into the following strands: small group or one-to-one music mentoring ten-week, whole-class music technology ond songwriting programmes for primary. secondary and special schools weekend, holiday ond after-school music groups and sessions one-off specialist workshops such as beatboxing event5 and festivals, which provide platforms for young musicians artist development and creative careers including industry-led sessions specialist interventions with portners vsing music to engage young people with particularly chollenging circum5tonces such as mental illness ond youth offending digitol development including podcasts and online radio community outreach sessions delivered by the Music Bu5 - our mobile recording studio. Over the 2022-26 business plan period we'll also be exploring the development of new areas of work including: training ond consultancy odvocacy and campaigns awarding and certification our record label and publishing arm. Collaboration is core to our mission and we work with o hvge range of industry, strotegic and delivery partners locally, nationally and internotionolly inclvding: Youth Justice NHS Gloucestershire Integrated Care Board Child and Adolescent Mental Health Service Gloucester Culture Trust Young Gloucestershire, VCS Allionce ond mony other youth/community orgoni5ations Create Glovcestershire and the wider orts sector PRS Foundotion Genelec Warner Choppell Music Absolute Label Services local authorities schoo15 and universlties. Trust8•s' annual port UTr¢¢rporotyng the trustee5' rowrt)
PUBLIC BENEFIT Throughout history, music hos uplifted, engaged, engendered joy and united people of diverse backgrounds. In short, music changes lives and none more so than those of young people. It can improve their present - by roising aspirations ond fostering better sociol and emotional health ond in turn can tronsform their future. This is especially true for those in challenging circumstonces. The trustees have considered the Charity Commission's guidonce on public benefit when reviewing orgonisational strategy ond plonning future activities ond ore satisfied thot The Music Works continues to have significont choritoble purpose ond delivers very tangible public benefit. At the heart of this is the fundamental belief that engagement in music-making provides huge benefit5 to individuals and communities in terms of- romoting enjoyment and inclvsion in music. so that everyone has o chance to discover their voice or musical skill and explore how music could enhance their life improving people's mental health and social and physical wellbeing by working with people affected by poor emotional ond mental health. those with specific di50bilities, or young people ot risk of offending engaging and motivoting young people in education by increasing attainment and helping them progress through vocational or ocodemic routes and into employment developing musical talent by improving progression pathways for musicians and technicians and supporting young leaders eveloping the music workforce by enhancing the region's capacity to deliver more accessible, high-quality music provision through the troining of musicians, music leaders, teaching staff and yovth workers increasing understonding among policymakers and funders around the importonce of music in tronsforming lives and building support for the sector now and in the future. Alongside Youth Music's music development scale and other bespoke tools, we use tho short version of the Warwick-Edinburgh Mental Wellbeing Scale (SWEMWBS) to measure the outcomes of our work ond have consistently found positive results. The importance of inclusion 4$ the driving force for our work Inclusion is ot the heart of oll thot we do. We use the Youth Music definition of inclusion, which describes an approach to music learning that include5 everyone and all types of music, leoding to a ror)ge of outcomes to which we firmly align. Musical inclusion is on approach to music teoching and learning thot means all children and young people con moke music, whotever their backgrourjd or circumstances. It's obout embracing everx style and genre of music. It's obout creating occess to music-m(Jking in the first place and prDviding the right support ond opportunities 50 thot young people can progress on their individual journey. And it 5 about music leoder5 having the right skills and resources to help eoch young person fulfil their potentiol.. Youth Music Trvstees, annual report (nPOrtst1Th9 the trbstee5' repDrt) ThpMw$5tWorks (Ch•rltyl
ACHIEVEMENTS AND PERFORMANCE l April 2023 - 31 March 2024 YEAR SUMMARY It's been an important year for The Music Works, one that's seen us con501idate and apply our learning and extend our influence beyond Gloucestershire. Our Glovcester Hub, designed by young people for young people. has this yeor emerged os a vital community resource - a fully functioning hive of activityi that has enabled young creatives to connect. collaborate and make music they're passionate about. Keen to mirror the success of our Gloucester Hub, dvring 2023/24, work began to create a similar state-of-the-art facility for young people in the Forest of Dean. Due to open in September 2024, our fully accessible Forest Hub, complete with sensory room. equipment store and multiple production and performance spaces, will transform the lives of young people in the area and breathe new life into the Forest of Dean's music scene. Our torgeted one-to-one interventions With key partners such as the Integrated Care Board and Youth Justice have also expanded this year. reflecting our commitment to supporting young people grappling with poor mental health. gangs and knife crime. Additionally, we hove spent time articuloting ovr artistic Vision. We wont to inspire. captivate and challenge young people by curating high-quality music experiences. We want young people to be fierce in their ambitions and limitless in their desire to create the music they want to make - to embrace diverse and emerging trends and immerse themselves in the landscape of the contemporary music industry. And we believe that given the right resources, support ond environment, through music, every young person con thrive and reach their full potential both musically and in life. And we have launched Music Leaders UK- our exciting new awarding arm. Both Music Leaders UK and Onatura (our commercial record lobel. launched in 2021), align with our mission and operote as social enterprises and both will, over time, generate surplus income to sustain our grassroots activities. As notionwide ventures, these initiatives Underscore our growing influence beyond Gloucestershire. And, this year, in recognition of our increasing national relevance, we have started to explore how we might transition to a notional charity and what that may look like. Looking aheod, we remain committed to youth-led. inclusive music practices. We will continue to be guided by the voices and vision of the young people we work with and will empower them to become bold and creative decision makers ond shape their own future. And though our work remains rooted in local delivery. through the development of Onotura and roll out of Mvslc Leaders UK, we will seek to amplify our national influence in order to inspire and support more young creatives across the country. COMMUNITY AND PLACE Gloucester Hvb Our second yeor at the Gloucester Hub ha5 focused on embedding our learning from year one. We have developed our understanding of what young people want from the hub inclvding the types of session5 and activities that they want to participate in and how they'd like to use the space and we have used this knowledge to shape our programme delivery. Trustees, tsnDuol report (incorporotin9 the trvSt¢ÈS' repDrt)
This has resulted in us reaching 1,621 young people this year and delivering 2,425 se55ions, with many of our programmes reaching full copacity. Our open access programme continued to experience significant growth with The Drop (our primary entry point for those starting out on their musical journey) proving especially popular reachir)g 236 young people. We are also proud of the transition made by increasing numbers of participants from The Drop to various other activities and sessions. such as our Music Social programme. with such participont flow demonstrating our continuing reach and positive impact. Welcoming budding lyricists. producers. beotmakers and DJS, our new Pass the Mic session has this year provided rappers and singers (aged 16-25) with the opportunity to develop their skills and learn from other young creatives as well as our experieT)ced music leaders. And our Have a Go school holiday programme held in collaboration with Gloucestershire County Council's Holidoy Activities and Food (HAF) programme enabled 127 young people aged 11-16 and in receipt of free school meals, to engoge in fvn and accessible music-making activities. Forest Hub Having witnessed the 5ucce5s of the Gloucester Hub model, we were keen to provide young people in the Forest of Dean with occess to a similar creative spoce. A survey of young people in the Forest of Dean found thot for nearly three quarters of them, muslc 15 their number one thing but most of them feel there is nowhere for them to go to make it or listen to it. With building work soon to be completed. this state-of-the-art facility will transform the lives of young people in the Forest of Deon, providing them with access to cutting edge music technology, a production and broadcasting room, a live studio and sensory room for rehearsals, specialist equipment. an ovtdoor performance and social area as well a5 0 much- needed accessible chonging places toilet complete with a hoist and changing platform. Not only will our new hub provide a space for young people in the Forest of Dean to feel inspired and empowered to make music, but it will also strengthen the areo's vibrant music scene, providing the commvnity with an incredible venue to make music and connect with like-minded people. Outreach work This year our versatile mobile recording studio - the Music Bus, has transformed our outreach work, helping us to connect with more communities, support more fomilies and enrich the lives of 477 young people. This year we took the Music Bvs out to deliver a serie5 of 10-week progrommes in areas of rural deprivation, where mvsic facilities are limited or where transport link5 limit travel to our hub5. Meeting young people in the spaces they felt comfortable and providing them with stimulating and empowering music-making experiences not only helped to strengthen our engagement with them, but also enabled us to forge stronger ties with the wider community. Additionolly, the Music Bus has enobled us to 5UPPOrt more disabled young people and their familie5 across the county by taking Mix and Mash out to communities. Offered as a Short Breaks resplte activity for families ond carers of disabled children, this year, our mobile Mix and Mash sessions provided young people with the opportunity to delve into music-making in a Safe and inclusive environment. From DJing and beat-making to singing and recording opportunities, our studio on wheels has helped us to reach families that we might not ordinarily see, whether thot's due to transportation difficulties or because they're unaware of our organisation and the work we do. Trvstees, onnuol rÈport (incorporotyn9 the trustee5' réport) io
Disability This year, across all of our programmes, we ron 1.061 SEN/D sessions. delivering 1.158 hours of music intervention to 421 young people across 15 locations inclvding our hubs. schools and community settings. IncDrop, our inclusive after-school clvb offering targeted support to young people with additional needs, reached 87 individuals and our Mix ond Mash Short Breaks programme offered 76.5 hours of respite to families of 35 yovng people with additional needs. Our Mix and Mash rodio station continued to thrive- broadcosting 2 hours of live radio each week and this year, across all programmes working with young people with additional needs, we received 8,925 views of our YouTube live streams. Our DJ Collective programme delivered 42 sessions at our Gloucester Hub ond enabled 66 DJS with additionol needs to nurture their tolent. meet like-minded people and make the music they love in o safe and welcoming space. The programme 0150 provided participants with some exciting public performonce opportunities, which this year included the Big Health Dayt the Tall Ships Festival, Tewkesbury's Big Weekend and HoppyFest- an inclusive music and ort5 cornival. And in June, following o year's worth of preporation, more thon 100 young people from 8 different SEN/D schools, came together for another moving and powerful IncFest performance in front of a sell-out crowd of 240 people including friends, family. carers, parents, fellow students, volunteers and our own VIPS and funders. TARGETED PROGRAMMES Heolth Key Changes Our Key Changes programme provide5 10 one-to-one and small group mentoring sessions to young people struggling with low-level mental health challenges and poor emotional wellbeing. During 2023/24 it had another hugely successful year. delivering 781 sessions and reaching a total of 133 individuals. In fact the progromme experienced such growth in demand that we now have people waiting to join. Structured orovnd the participont's interests ond needs and grovnded in the self-determination theory, the programme focuse5 on helping young people improve their confidence, build connections and discover their musical potential. We're pleosed to report that participant wellbeing dota from this year, demonstrates a significant reduction in low wellbeing from 51 /0 to 11 %, 0 23 % increase in those experiencing medium wellbeing and a 17 % increase in those experiencing high wellbeing and increased feelings of competence. The success of our programme this yeor, has led to increasing national interest and with the help of o researcher from the University of Gloucestershire, we're now beginning to showcase our work. Gloucestershire Creative Health Consortium As part of the Gloucestershire Creative Health Consortium, we have continued to support and empower young people living with long-term health condition5 through our Xpres. programme delivering 19 sessions to 39 young people referred to us by their consultant or clinical team. Our Transitions programme had another bvsy year too, svpporting 123 pupils dealing with anxiety around their transition from primory school to secondory school. Community Connectors This year, in partnership with the Gloucester Commvnity Bvilding Collective and funded by NHS England, we embarked upon our exciting new programme, 'Community Connectors,. By recruiting two community connectors to engage Gloucester's young people in conversotion, we hope to better understand the barriers yovng people from diverse backgrounds may be facing when trying to access mentol heolth services. Althovgh the roles won't be recruited until TTUSt8•y' annual report fin¢orporating th•tru5terf r•port) li
2024/25, we have spent this year co-producing the job descriptions with young people ond acquiring their insights into how the roles might work. Health inequalities During 2023/24 we were also commissioned by the NHS to deliver a piece of work which uses music to oddre5s heolth ineqvalities experienced by young people in Glovcester. We know that across Gloucester, multiple factors impact the heolth of young people and offect their take vp of health services, including where they live, being from a Black or diverse ethnic community, living in care or being a care leover. being excluded from school or being a young offender. For all of these young people, the incidence of poor mental health and substance misuse is particularly high and yet their toke up of health and sUPPOrt services is low. We've therefore spent this year delivering vorious sessions at ovr Gloucester Hub including one-to-one and 5moll grovp mentoring, open access drop-in sessions as well as community outreach activities ond holiday programmes - with the aim of supporting as many young people facing health inequalities as possible and encouraging them to access relevant health services. Overall, dvring 2023/24, the programme engaged 955 young people across 1,143 5e55ions, marking an 89 /0 increase from the previovs year. One of the highlights of our heolth ineqvalities work has been our 'ln Talks With, series, which emerged in response to the surge in mental health problems experienced by yovng people following the pandemic - especially those from marginalised commvnities, already focin9 barriers to accessing health services. Conversations led by young people reveoled that they felt more comfortable discussing their mental health challenges with an online influencer or peer, who they felt had experienced similar odversities. They also felt more inclined to take the advice offered by their online peer network around how ond where to acce55 help ond support. htt www. outube.com Watch-v3Cl6zK14ZQ Youth violence intervention and prevention Making It 2 Our work with young people at risk continued this year. Through our Making It 2 programme, we engaged 31 young people susceptible to involvement in crime or violence. Of those, 36¥0 were excluded from school, 26% were at risk of exclusion and 34% were recorded as having emotional and behavioural difficulties. All were either at risk of offending or had offended. Our music leaders delivered 112 one-to-one sessions aimed at improving participants, confidence. self-esteem and resilience, reducing instances of anti-social behaviovr and increasing their engagement in training, education and employment. Although there have been some challenges oround delivering the programme this year. primarily due to fears oround knife-carrying and the division created arovnd this, engagement and outcomes for many of the participants hos been very positive. In fact, using our data and information from the Youth Justice Team, as far os we can establish. only one person is now in a custodial setting following completion of the programme and to the best of our knowledge, the majority have not reoffended. Wellbeing data also reveals thot following completion of the Sessions, the proportion of participants experiencing low wellbeing this year disappeared and those experiencing medium wellbeing increosed from 43 /0 to 80Wo. Tackling anti-social behoviour Thi5 yeor our state-of-the art, mobile recording studio - the Music Bu5. has been instrumentol in tackling anti-social behaviour incidents in disadvantaged communities across Gloucestershire. In cold spots where youth disengogement is high, it has enabled us to engage young people in places they choose to meet and build their interest in music-making at a pace that suits them. Our se55ions in Kingsway proved o porticvlar highlight with music leaders Tru5tee5' unnuul rtwrt fincorpDratiny the tnjstees. rer#Yt) 12
noting an increase in the number of young people attending. week after week and plenty of positive feedback from participants. This included how the sessions provided them with the opportunity to engage in Something purposeful and how they have enjoyed hanging out with friends in a new place and making mvsic they loved. Our detached youth work approach meons we're not only building relationship5 of trust with young people but we're also connecting with families and peers and encouraging more intergenerational buy-in and support. This has been game-changing in areas where anti-social behaviour is prevalent - leoding to a 200/0 conversion rate to other programmes at our hub. The Music Bus has also enobled us to capture youth voice oround the current music-making opportunities that exist for young people, which will help us to shape and drive our youth social action in the future. Schools Alternative provision Following our successful pilot programme last year, our work with olternative provision schools has continued during 2023/24. We've delivered 174 one-to-one music-based mentoring se55ions, across fovr schools and supported 167 young people between KS2 and KS4, who are struggling to stay in mainstream education and who have higher levels of social. emotional and mental health needs. Crafting sessions around euch participant's individuol needs, we have helped stvdents to set goals and work toword5 them, with the oim of improving wellbeing ond attendance levels and encouraging transition into post-16 education. We have been impre55ed with the dedication and commitment shown by many of the students this year, with Six of them working towards the attainment of their silver arts award. - SEN/D This year we worked with two SEN/D schools, delivering 132 sessions to 74 students with additional need5. Through our whole class muslc technology sessions, we introduced students to iPods. inspiring those who wouldn't ordinarily See themselves as 'musical', to compose their own pieces. We also supported SEN/D student5 who were finding the tran51tion to secondory school challenging, with our Transitions Trailblazer sessions focused on building confidence and 5elf-esteem through song-writing and music-making. - Advisory work As part of our commitment to svpporting mvsic edvcation across Gloucestershire, this yeor we delivered 18 one-to-one sessions with Music Subject leaders in primory schools eight of which were in our targeted areos. These bespoke advisory sessions were tailored to the need5 of each school with the aim of empowering them to develop their music provision in a woy that widens the musical leorning and experiences of young people. With many of the subject leaders identifying staff confidence 05 a barrier to teaching music effectively, we led a teacher training day in March 2024. aimed at upskilling non-specialist teachers. Twenty-one schools attended, with over 50°h coming from our targeted schools. Feedback following the session was overwhelmingly posltive with 100%0 of attendees Stating they felt more confident and enthusiastic about teoching music. CREATIVE CAAEEFIS Upsurge Our creative careers progromme. 'Upsurge' provides aspiring young creatives, aged between 18 and 30 with the ideal platform to kick-start their career in the music industry. Split into two distinct strands: artist development and creative development. our free, year-long programme offers participants one-to-one mentoring, access to stote-of-the-art recording studios and equipment, as well as opportunities to attend masterclasses, develop crucial business acumen and network with leading industry professionals. During 2023/24. we supported 52 young Trvstu•s' onnual rewrt IirKorporotyng thetrvSt¢es' rePQrt) 13
people throvgh our progromme: 20 artists, 20 creatives and 12 50vnd engineers. Highlight5 from the Upsurge programme this year include the incredible 5ucce55 of two of our artists: Elle and Nat Ooks. Elle has secured a distribution deal with The Orchard and Nat has secured financial support via Youth Music's Next Gen fund and made a live appearance for Sofar Sounds. Masterclasses During 2023/24 we held 11 industry masterclasses. reaching 140 young people, with topics ranging from developing creative proctice and brand-building to song-writing and film- making. These classes provided attendees with access to unrivalled insider knowledge ond advice about the creative sector from key industry professionals including Shani Gonzales (Director A&R at Warner Mvsic Group), DJ and radio presenter Tom Green and Hollywood director, Marc Jobst. In addition. these closses offered young creatives the chance to network with industry experts and forge relationships with local musicions and businesses. Creative Futures Once again this year, our partnerships with key industry bodies have helped to open vp exciting new progression pathwoys for our young creatives, many of whom have faced challenging circumstances. In November. we held our annual creative industry day, 'Creative Futures. _ conference and networking event aimed ot inspiring young people and empowering them with the knowledge, skills and tools they'll need to breok into the music industry. The event provided 160 atter)dees with the opportunity to heor from indvstry experts, engage in networking opportunities with creative profe55ionals and forge new collgborative partnerships. With big industry names in attendance, including Warner Chappell Music, BBC Introducing, Sony Music, Robots and Humans, Cygnus Music, BMG UK. Metropoli5 Music and Europa Music Management. this year's event proved to be another inspiring and memorable experience for the next generation of music professionals. Onatura In November 2021, we launched our own record label, management and publishing arm: Onotura. This new commercial branch of our orgonisotion serves as a self-suff icient option for emerging artists and producers. Linked to ond supported by our industry advisory board and partnerships, it offers a secure and commercially viable initiol step for aspiring artists, producers, monagers and executives and expands the level of svpport available to those on our Upsurge programme. EVENTS Upsurge Live Following on from lost year's success. in April. July and September 2023. we held three separate Upsurge Live events at our Gloucester Hub. These open mic nights provided more than a dozen up-and-coming local artists with an opportunity to perform in front of a live audience of around 185 people, but in a low-pressvre and welcoming environment. Upsurge - An Evening With In February 2024, we held 'Up5urge - An Evening With,, an event designed to demonstrate the progress achieved by Six of our exceptional Upsurge artists since their induction into the programme. With each artist having a dedicated set to showcase their incredible talent, the evening helped to cement their reputation within the Gloucester music scene ond beyond, whilst also proving to be a dynamic and captivating experience for those in the audience. A Grime Supreme A Grime Supreme was a project led by Tomorrow's Worriors - a London-based jazz educotion and ortist development organisation. Its oim was to break down musical, social and geographical barriers by exploring the fusion of jazz and grime and encouraging new collaborations between jazz artists in Strovd ond o pool of emerging grime artists from Trustq@5' annucl r4port CiniDrporotyn9 trustee r4wrtl 14
Gloucester. In November 2023, following three months of collaboration ond with support from iconic British producer Swindle, Mercury-nominated jazz drummer Moses Boyd, jazz-drill pioneer XVNGO (Deli ljishakin) ond Gloucester native MC Rider Shafique, 20 Gloucester5hire- based musicians and artists took to the stage in a compelling live performance. Not only did the event enoble young local artists to showcase their new musicol collaborations and cross- genre sounds, but it has also helped to build bridges between communities across the county. This year, we're once agoin proud to have delivered an array of inclusive and acce55ible events, ottracting many young people experiencing challenging circumstances. During 2023/24, 22 /0 of event attendees hod mental health chollenges, 22 / had special educational needs and disabilities and 24 % of attendees were from Block, Aston and ethnically diverse communities. We're also pleased that our events created 26 volunteering opportunities and 32 performance opportunities for local artists. MUSIC LEADEFIS UK (MLUK) We know that music has the power to transform young people's lives - helping them to unlock their creative potential, connect with others and develop leadership skills they often didn't know they had. And yet, over the years. we have witnessed the decline of music in schools, with olmost all young people halting their musical education after KS3. Feedback from young people indicates this may in part be due to the huge disconnect between the music they want to make and the music they're taught in schools. In response to this, in March 2024. we launched Music Leaders UK (MLUK) - on awarding body that aims to revolvtionise music educotion in schools and make a real difference to both young people and the creative sector. In consultation with secondary school music teachers ond young people themselves, we've created o syllabus. curriculum. ossessment criteria ond aword scheme, which we believe will encouroge thousands of secondory school pupils to re-engage with music in schools. We're olso confident that MLUK'S quolifications will enable young people to develop essential leadership skills svch as teamwork, collaboration and problem solving, whilst olso helping to address the arroy of challenges young people face today including poor mentol health, school exclusion and youth violence. And we believe MLUK has the power to diversify the music education sector by fostering inclusivity. celebrating difference and making music more accessible and enjoyable to a much broader range of young people. PLANS FOR NEXT YEAR A5 we look ahead to the 2024/25 financiol year. The Music Works is poised to embark on an exciting journey of growth and transformotion that will propel us from being a respected local charity to a prominent national one. First and foremost, we will focus on establishing both MLUK (our awarding arm) and Onatura (our record label) - two initiotives thot will expand our reach and impact. These new ventures will enoble u5 to serve a broader oudience and make a significant difference in the lives of even more individuals. We will olso strengthen our commitment to becoming more youth-led, particularly ot Senior levels. By empowering young people to take on leadership roles and hove a greater soy in our decision-making processes, we will ensure that our organisation remoin5 relevant, dynamic and responsive to the needs of the communities we serve. A further exciting highlight will be the launch of our new Forest Hub, which we aim to transform into a thriving centre of activity. Based in Cinderford, this hub will serve as a focal point for our work in the area, providing a space for collaboration, innovation and community engagement. To support our growth and development during the next financial year, we will be recruiting o new Director of People and Organisational Development. This key appointment will help us attroct, retain and nurture the tolented individuals who are the driving force behind our success. Trust5, annval reFA)rt fin¢¢rporutitsy the trv5ted reFx>rt> 15
As we expand our reach, we recognise the importance of Sharing our learnings on a national stage. We will seek clarity on how best to achieve this, ensvring that our insight5 and best practices are disseminated widely ond effectively. Finally, we are thrilled to be taking up our new role as Inclusion ond Youth Voice lead for the new Music Edvcation Hub for Gloucestershire, Swindon and Wiltshire. This posltion will allow us to champion the importance of inclusivity and amplify the voices of young people in the world of music education. SAFEGUARDING This year, of the Safeguarding incidents thot occurred - all were reported and logged correctly by staff and designated safeguarding leads. Following the incidents, we worked closely with Youth Justice, the police ond other external agencies to mitigate further risks. Furthermore, we updated our lone-working policy to ensure staff safety, held regular meetings with a safeguarding consultant to ensure the proper reporting of procedures, provided all staff with sofeguarding troining. trained new designoted safeguarding leads ond updated our safeguarding handbook. We're also exploring o new platform in order to monage our safeguarding needs more eff iciently. FINANCIAL OVERVIEW The charity's occounts for 2023/24 reflect further growth in respect of the scale and scope of its charitable activities and highlight the charity's positive overall financial health. In 2023/24, investment in the restricted project delivery programme increased by 15¥., demonstrating our ombition to continue to reach as many young people as possible in Gloucestershire. Development expenditure was made in respect of the establishment of both Music Leoders UK- our awarding arm (£56,000) and Onotura - our own record lobel (£12,000). Significant capital (£650,000) was also invested in the construction of our second music hub in Cinderford, which is due to open in late 2024. The year was not however, without its challenges, with economic pressures on funder5 and the continuing high cost of living still affecting both funders and beneficiaries. To ensure our long-term 5UStoinability, we continved to explore ways of diversifying our funding strategy, focusing porticularly on developir)g trading income and reducing dependency on grant5. Excluding one-off gront funding for the Forest Hub capital development, income from fee/5ales and commi55ion income in 2023/24 represented 35 % of total charitable activity funding, compared to 31% in 2022/23. This has come mainly from commercial studio fees, school fees and the commi55ioning of our mental health work. Keyfinancial headlines: £0.65m of one-off capital development investment wa5 mode in respect of the construction and fit-out of the Forest Hvb. Total net current assets held by the charity were £1.25m, but note, of these ossets, only £0.25m ore free unrestricted reserves held by us, with the remainder being committed fvnds. rrustees. onnual rep(Trrt (irtcorporoting thE trustees. rewrt) Th•PthJkWvr&s tcknrfty) 16
Our net current assets can be analysed as: £1.3m - cash held at the bank £0.1m - debtors (£0.16) - creditors. £1.25m Cvrrent assets of (£1.25m). mainly cash at bank. are held in respect of the following: £0.76m -odvanced funding received for restricted project delivery in the financial year 2024/25 £0.25m - unrestricted free reserves held in line with the board of trustees, reserves policy, which represents 2 months of the full delivery model and 4 months of a minimal committed cost model £0.11m - unrestricted funds that have been accumulated from unrestricted grants, donations and tradin9 activity that will need to be allocated to cover any remaining funding gaps on restricted activity In 2024/25 £0.05m - restricted funding designoted for retention payments on the Gloucester Hvb in 2024/25 £0.08m - funding received for the implementation and delivery of Music Leaders UK in 2024/25. Fixed assets (£1.325m) have increosed by £0.411m since 2022/23, reflecting the investment in the new Forest Hub. Other notes to the accounts Expenditure (see notes 5 and 6 to the accounts) are mainly reported as charitable activity and other day to day management costs. which are made up as follows: charitable activit costs - project management, all project delivery costs, studio running costs an equipment purchases other da to day mana ement costs - depreciation (£259,000), centrol stoffing. eguardin and evaluotion, IT and central a , training ond development, central marketing ministrotion (consvltoncy. business development, accountancy, subscriptions, payroll and insuronce). The direct and support cost split is fixed under the structure of the statutory accounts and the £502.000 5UPPOrt costs from charitable octivities con5i5t5 of the following, which in true term5 are all part of the cost of project delivery: £145,000 - venue costs £175,000 - freelancer5 (mainly music leader5) £29,000 - event5 and workshops £75,000 - direct project marketing £54,000 - studio running costs £15,000 - direct project monitoring and evaluation £5,000 - other delivery expenses £4,000 - equipment Transfers between restricted and unrestricted funds are reported at £222,947. Funding agreements ollow 26Wo of pro ect delivery resource costs to be used for overhead costs and this amounts to £422,947 of transfers, as reported in note 14. Fees generated by the charity are free reserves but are initially accounted for against the respective restricted project activit¥ that the relate to. We then agree the respective value to be moved to our unrestricted fun TrustBe5' onnual report Iincorporuting thE tru5tee5' fepDrt) TheMusicWorkn(Chorlty} 17
RISK MANAGEMENT The identificution and mitigation of risk is a key task for the CEO in consultation with the boord of trustees. The trvstees maintoin on overall risk analysis document that logs risks. probobility, impact. management 5trotegy. action and lead responsibilities. It covers governance, safeguarding. operational. financial. external and compliance risks. Risk is a Standing item at all board meetings. STATEMENT OF TRUSTEES. RESPONSIBILITIES The trvstees (who ore also directors of The Music Works (Charity) for the purposes of company low) are responsible for preparing the report of the trustees and the financial statement5 in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). Company law requires the trustees to prepare financial stotements for each financiol year. which give a true and fair view of the state of affairs of the choritoble compony and of the incoming resources and application of resources, inclvding the income and expenditure of the charitable company for that period. In preparing those financiol stotements, the trustees ore required to: select suitable accounting policies ond apply them consistently observe the methods and principles in the Chority SORP moke judgements and estimates thot ore reasonable and prudent prepare the financial stotements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business. The trustees are responsible for keeping proper accounting records which disclose with reosonoble occurocy at any time, the finoncial position of the charitable company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the as5et5 of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. In so far as the trustees are aware: there 15 no relevant audit information of which the charitable company's auditors are unaware the trustees have taken all the steps they ought to have taken to make themselves aware of any relevant audit information and to establish that the auditors are oware of that information. Tru@$, onThvol report OrKorporating the trust•os' rowt) 18
AUDITORS The auditors, millhall consultants Itd, will be proposed for re-appointment ot the forthcoming Annuol General Meeting. Registered office: Kings House 27 St Aldate Street Gloucester Gloucestershire GL11RP Signed on behalf o the trustees on: Date zg 10 Alexander Ross (Choir) Trustees, annual report (including the trustees, report) for the yeor ending 31 March 2024 The Music Works (Charity) Trust•es' onnyol rèport(Incorporatiry thè trvst••s' rèport) Th•MLthWorkK(Chqrlty) 19
REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBEFIS OF THE MUSIC WORKS (CHAFIITY) We have audited the financial statements of The Music Works (Charity) (the 'charitable company,) for the year ended 31 March 2024 which comprise the Statement of Finonciol Activities, the Statement of Financial Position. the Statement of Cash Flow5 and notes to the financial statements. including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). In our opinion the financial statements: give a true and fair view of the state of the charitable company's affairs as at 31 March 2024 and of its incoming resources and application of resources, including its income ond expenditure, for the year then ended: hove been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and have been prepared in occordonce with the requirements of the Companies Act 2006. BASIS FOR OPINION We conducted our audit in accordance with International Standards on Auditing (UK) (ISAS (UK)) and applicable law. Our responsibilities under those stondords ore further described in the Auditors, responsibilitie5 for the audit of the finonciol stotements section of our report. We are independent of the charitable company in accordance with the ethicol requirements that are relevant to our oudit of the financial statements in the UK. including the FRC'S Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we hove obtoined is suff icient and appropriate to provide a basis for our opinion. CONCLUSIONS RELATING TO GOING CONCERN In auditing the financial statements, we have concluded that the trvstees. vse of the going concern basis of accounting in the preparation of the financial statements is appropriate. Based on the work we have performed, we have not identified any material uncertainties reloting to events or conditions that. individually or collectively. may cast signif icant doubt on the charitable company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue. Our responsibilities ond the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report. OTHER INFORMATION The trustees are responsible for the other information. The other information comprtses the information included in theAnnual Report. otherthanthefinancial statements and our Report of the Independent Auditors thereon. Our opinion on the financial statements does not cover the other information ond. except to the extent othenmise explicitly stated in our report. we do not express onyfom) of ossvronce conclusion thereon. RÉportof the IndEPEndprtALM4itorstothÈ MÈmbÈrsof ThÈ mtworkS (Charity) 20
In connection with our audit of the financial statements. our responsibility is to read the other informotion and. in doing so, consider whether the other information is moterially inconsistent with the financial stotements or our knowledge obtained in the audit or otherwise appears to be materiolly misstated. If we identify such material inconsistencies or apparent material misstatements, we are reqvired to determine whether this give5 rise to a material mi55tatement in the financial statements themselves. If. based on the work we have performed, we conclude that there is a moterial misstatement of this other information, we are required to report that fact. We hove nothing to report in this regord. OPINIONS ON OTHER MATTERS PRESCRIBED BY THE COMPAIUIES ACT 2006 In our opinion, based on the work undertaken in the course of the ovdit: the information given in the Report of the Trustees for the financiol year for which the financial statements are prepored 15 consistent with the financiol statements; und the Report of the Trustees has been prepared in accordance with applicable legal requirements. MATTERS ON WHICH WE ARE REQUIRED TO REPORT BY EXCEPTION In the light of the knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the Report of the Trustees. We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion: adequote accounting records have not been kept or returns adequate for our avdit have not been received from branches not visited by us; or the financial statements are not in agreement with the accounting record5 and returns., or certain disclosures of trustees, remuneration specified by law are not made; or we have not received all the information and explanations we require for our audit. RESPONSIBILITIES OF TFIUSTEES As explained more fully in the Statement of Trustees. Responsibilities, the trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial stotements and for being satisfied that they give a true and fair view, and for such internal control os the trustee5 determine is necessary to enable the preporation of financial statements that are free from material mi55tatement, whether due to fraud or error. In preparing the financial statements. the trustees are responsible for assessing the charitable company's ability to continue os a going concern, disclosing, as applicoble, matters related to going concern and using the going concern bas15 of accounting unless the trustees either intend to liquidote the charitable company or to ceose operations, or have no realistic alternative but to do so. Report of the Indepen4ent Auditor5tothe M•rnber5 of The Mu*( Works (Chorrty) 21
OUR RESPONSIBILITIES FOR THE AUDIT OF THE FINANCIAL STATEMENTS Our objectives are to obtain reasonable o5suronce about whether the financial statements as o whole ore free from material misstatement, whether due to fraud or error, and to issue a Report of the Independent Auditors that includes our opinion. Reosonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAS (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the oggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financiol stotements. The extent to which our procedure5 ore copable of detecting irregularitie5. including fraud is detailed below: we obtained an understanding of the legal and regvlatory frameworks that are applicable to the charitable company. These include bvt are not limited to compliance with the Companies Act 2006, the Charities Act 2011 and the Charities SORP (FRS 102); we agreed the financial statement disclosures to 5UPPOrting documentation., we made enquiries of management", and we reviewed board minutes throughovt the year. A further description of our responsibilities for the avdit of the financial statements is located on the Financial Reporting Council's website at www.frc.or auditorsres on5ibilities. This description form5 Port of our Report of the Independent Auditors. USE OF OUFI REPORT This report is made solely to the charitoble company's members, as a body, in accordance with Chopter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertoken so that we might state to the charitable compony's members those motters we are required to state to them in an auditors, report and for no other purpose. To the fullest extent permitted by law, we do not accept or assvme responsibility to anyone other thon the charitable compony and hori able company's members a5 0 body, for our audit work, for this report, or for the opinio have f med. FCA (Senior Statutory Auditor) f9 nd on behalf of millhall consultants Itd Carlson Suite Vantage Point Business Villoge Mitcheldeon Gloucestershire GL17 ODD RÈpDrt Df thE IndepErentAudknrS tothe Mernbersof MCWtsrkS (Chorfty) TheW*bttworkB(CharY> 22
STATEMENT OF FINANCIAL ACTIVITIES (INCORPOFIATING AIW INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 MAFICH 2024 2024 Total funds 2023 Total funds Unrestricted Restricted funds fund Notes INCOME AND ENDOWMENTS FROM Charitable activities Donations Grants 22,847 120,504 107.904 1.563.038 130,751 1,683,542 48.576 1.058,190 Investment income Other income 6.514 63.823 6.514 630.890 2,252 566,003 567,067 Total 213,688 2.238,009 2,451.697 1,675,021 EXPENDITURE ON Charitable actrvities Charitable Activities Fundraising Costs Governance Costs Other Day to Day Mngmt Costs 93.970 61.003 8.520 166.071 1,243.856 1.337,826 61,003 8.520 478,047 1,107,424 44,605 11,040 394,389 311.976 Total 329.564 1.555.832 1.885,396 1.557.458 NET INCOMEI{EXPENDITUREI Transfers between fund5 {115.8761 222.947 682.177 1222.9471 566,301 117,563 14 Net movement In funds 107.071 459.230 566,301 117.563 RECONCILIATION OF FUNDS Total funds brought forward 255,300 1,751.130 2,006,430 1,888.867 TOTAL FUNDS CARRIED FORWARD 362.371 2,210.360 2,572.731 2,006,430 The notes form part of these financial statements Statgrnent Df WinanaolArtwityes (lTh¢¢rp¢rot5rt9 qn InGome ExpenditureAccount) forthe Yéar Ended 31 March 2024 ThE MusicWwkn(Cknrlly) 22
STATEMENT OF FINANCIAL POSITION 31 MAFICH 2024 2024 Total funds 2023 Total funds Unrestrided Restricted funds fund Notes FIXED ASSETS Tangiblo assets 11 1.324.915 1.324,915 913,532 CURRENT ASSErs Debtors Cash al bank 12 56,289 395,114 50,105 907,602 106,394 1,302,716 165.870 1,018,517 451.403 957,707 1,409,110 1.184.387 CREDITORS Amounts falling due within one year 13 (89.032) (72,262) 1161,2941 191.4891 NET CURRENT ASSETS 362.371 885.445 1.247.816 1,092.898 TOTAL ASSETS LESS CURRENT LIABILITIES 362.371 2.210.360 2.572,731 2,006.430 NET ASss 362.371 2.210.360 2.572,731 2,006,430 FUNDS Unrestricted funds Restricted funds 14 362.371 2.210.360 255.300 1,751,130 TOTAL FUNDS 2.572,731 2,006,430 The financi sta ments were opproved by the Board of Trvstees and authorised for issue on and were signed on its behalf by: Trvstee The notes form part of these financial statements Stotemènt of Finonual Pos() 31 Ma 2024 2d
STATEMEP4T OF CASH FLOWS FOR THE YEAFI ENDED 31 MAFICH 2024 2024 2023 Notes Cash Ilows from operating activities Cash generated from operations 947.932 267,868 Net cash provided by operating activities 947.932 267,868 Cash flows from investing activlties Ptjrchase of tangible fixed assets Interest received {670,2471 6,514 (58.501) 2,252 Net cash used in investing activtties (663,733) (56.249) Change in cash and cash equivalents in the reporting period Cash and cash equivalents at the beginning of the reportlng period 284.199 211,619 1.018.517 806,898 Cash and cash equivalents at the end of the reporting period 1,302.716 1,018,517 The notes form part of these financial statements StateTnent of Cosh Fl¢wS for the Year Ended 31 Ma 2024 Th•Mu#kWork&(Ch•rlty) 25
NOTES TO THE STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MAFICH 2024 RECONCILIATION OF NET INCOME TO CASH FLOW FROM OPERATING ACTIVITIES 2024 2023 Net income for the reporting period {as per the Statement of Financial A¢tivttie5) Adjustments for- Depreciation Charges Interest r1Ved Decreasellincrease) in debtors Increase in creditors 566,301 117,563 258,863 16,5141 59,476 69,806 197,185 (2,252) 184,027) 39.399 Net cash provided by operations 947.932 267,868 ANALYSIS OF CHANGES IN NET FUNDS At 114123 Cash flow At 3113124 Net cash Cash at bank 1.018.517 284.199 1,302,716 1,018,517 284.199 1,302,716 Total 1,018,517 284,199 1,302,716 The notes form part of these financial statements Ntstes to the Statement of Cash Fbws fortheyeor Ended 31 March R024 26
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAFICH 2024 1. AccouKnNG POUCIES Basls of preparing the financlul stateThnts The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordonce with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Finoncial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 Jonuory 2019),, Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK ond Republic of Ireland, and the Companies Act 2006. The financial statements have been prepored under the historical c05t convention. Incom• All income 15 recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably. Expenditure Liabilities are recognised as expenditure as soon os there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation con be meosured reliably. Expenditure is occounted for on an accruals basis and has been classified under headings that aggregate all cost related to the cotegory. Where costs cannot be directly ottributed to particular headirsgs they have been allocated to activities on a basis consistent with the use of resources. Tangible fixed assets Depreciotion is provided at the following annual rates in order to write off each asset over it5 estimated vsef ul life. Freehold Property - 10 % Straight Line Basis Short Leasehold 10 % Straight Lirbe Basis Fixtures & Fittings - 40 /0 Reducing Balance Basis Taxation The charity is exempt from corporation tax on its choritoble activities. Fund accounting Unrestricted funds can be vsed in accordance with the choritoble objectives at the discretion of the trustees. Restricted funds can only be vsed for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes. Further explonotion of the noture and purpose of each fund 15 included in the notes to the financial Statements. P•nslon costs and other post-r•tirement benef The charitoble compony operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate. Notes to the Financial StuternEnts forthe Yeor EDded Morch 2024 27
NOTES TO THE FINANCIAL STATEMENTS (CONTI•IUEO) FOR THE YEAR ENDED 31 MARCH 2024 INVESTMENT INCOME 2024 2023 Bank Interest 6,514 2,252 INCOME FROM CHARABLE ACTIVITIES 2024 2023 Activity Donations Trusts & Foundations Donations Individuals Donations - in kind sponsorship Gloucestershire County Council Paul Hamlyn Foundation The Prudence Trust Gloucester Guildhall Police and Crime Commissioner for Gloucestershire CAF Keystone Fund Charles Hayward Foundation PRS Foundation Arts Council England Bamwood Trust Make Music Gloucestershire Youth Music The Henry Smith Charity BBC Children in Need Gloijcesler County Council lof course we can) 29th May Chartty Cheltenham Borough Council Grants The Chimo Trust Grants Garfield Weston Foundation Grants The Venture Community Hub Gloucester Community Foundation (Freemasons) Grants The High Sheriff of GIoUStershlre's Fund St Jarnes's Place Charitable Foundation Thirty Percy The Comino Foundation The Julia and Hans Rausing Trust Donations Donations 16,000 101.089 22,837 25,026 Donations 13,662 713 Grants Grants Grants Grants 15,336 5,000 77,000 89,870 16,400 91,255 Grants Grants 10,000 24,504 26.250 Granls Grants Grants Grants 20.000 11,000 86,500 103,071 20,000 11,000 92.850 39.574 Grants Grants Grants Grants 212,683 50.000 20,000 18,000 224.000 45,000 20,OOD 2.000 Grants Gfants 7.500 10,500 5.000 3,400 30,000 30.000 Grants 2.500 2,000 Grants 2,500 Grants Grants Grants 22.500 126,016 100.000 10.000 Grants 20.000 caled forward 990,600 891.936 Nrtes tothe Financiol Stotements- <ontyThved for the Year Ende4 31 March 2024 28
NOTES TO THE FINANCIAL STATEMENTS (¢OhlTINUUD) FOR THE YEAA ENDED 31 MARCH 2024 INCOME FROM CHARITABLE ACTivmES - contlnued 2024 2023 Brought forward Masonic Charitable Foundation The Bally Thomas Charitable Fund The Kartsson Jativa Charitable Foundation Esmée Fairbaim Foundation Gloucester City Council Drake Music Ramami Family Fund Metal for Good The Wiggin Charitable Foundation National Express Foundation The Pied Piper Appeal The Free Hospital Trust Youth Investment Fund Fooe Foundation 990,600 891,936 Grants 25,000 Grants 8,000 Grants 28,248 28,248 Grants Grants Grants Grants Grants 50,000 5,000 1,000 1.500 2.000 60,000 20,000 Grants 35,000 Grants Grants Grants Grants Grants 2.500 30.000 1,500 638,945 30.000 41,582 30.000 1,814,293 1,106,766 OTHER INCOME 2024 2023 Other income 630 890 Other income indudes inwme from fees. contracts and other sates. CHARrrABLE AcTIVlEs COSTS Support costs (see note 6) Direct Costs Totals Charttable ActNlties Fundraising Costs Govemance Costs Other Day to Day Mngmt Costs 836.048 501,778 61.003 8,520 99,173 1.337,826 61,003 8,520 478.047 378.874 1.214,922 670,474 1,885,396 Nots5 tDth4 Firtunool St¢2trments- Continued f¢rthÈ YÈar Ended 31 Morch 2024 29
NOTES TO THE FINANCIAL STATEMENTS (¢QNTINVllD) FOR THE YEAFI ENDED 31 MARCH 2024 SUPPORT COSTS Infomiation Govemance Managemenl technology costs Totals Charitable Actwities Fundraising Costs Governance Costs Other Day to Day Mngmt Costs 501,778 61,003 501,778 61,003 8.520 99,173 8,520 96.915 2,258 659.696 2.258 8,520 670,474 NET INCOMEI{EXPENDITUREI Net incomellexpenditurel is stated after charg1ngl1credngl= 2024 2023 Auditors. remuneration other non-audit services Depreciation - owned assets 7,200 1.320 258,864 6,600 4,440 197,184 TRUSTEES. REMUNERATION AND BENEFrrs There were no trustees, remuneration or other benefits for the year ended 31 March 2024 nor for the year ended 31 March 2023. Trustees. oxpenses There were no trustees, expenses paid lor the year ended 31 March 2024 nor for the year ended 31 March 2023. STAFF COSTS 2024 2023 Wages and salaries Social security costs Other pension costs 820,920 62,099 31.484 747,356 66.412 22,689 914,503 836,457 The average monthly number of employees during the year was as follows: 2024 29 2023 30 Administration and management No employees receNed emoluments in excess of £60.0. Nots5t0th FinoDooI Stot¢ments- continued for thÈYear Ended 31 March 2024 Th• FknteW•rkn(Chath 30
NOTES TO THE FINANCIAL STATEMENTS,..- FOR THE YEAFI ENDED 31 MARCH 2024 10. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES Unrestricted Restricted funds fund Total funds INCOME AND ENDOWMENTS FROM Charitable activities Donations Grants 8,468 17.000 40.108 1,041,190 48,576 1,058,190 Investment income other income 2.252 143.306 2.252 566,003 422.697 Total 171,026 1,503,995 1.675,021 EXPENDITURE ON Charitable activities Charitable Activities Fundraising Costs Govemance Costs other Day to Day Mngmt Costs 74.871 44.605 11.040 160.114 1.032,553 1.107,424 44,605 11,040 394,389 234,275 Totsl 290,630 1,266,828 1,557,458 NET INCOMEIIEXPENDITURE} Transfers between funds 1119.6041 184.635 237,167 (184.6351 117,563 Net movement in funds 65.031 52.532 117,563 RECONCILIATION OF FUNDS Total funds brought forward 190.269 1.698.598 1,888,867 TOTAL FUNDS CARRIED FORWARD 255.300 1.751.130 2.006,430 Notes to the Finan1 Stutqrnents-contlnved forthe Yeor Ended * Marth 2024 ai
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 11. TANGIBLE FIXED ASSETS Fixtures and fittings Short leasehold Motor vehicles Totals COST Al 1 April 2023 Additions 1.077.500 584.483 444.081 85.764 46,986 1.568,567 670,247 Al 31 March 2024 1.661.983 529.845 46,986 2,238.814 DEPRECIATION Al 1 April 2023 Charge for year 303,993 166.198 327,548 80,919 23.494 11,747 655,035 258,864 Al 31 Marth 2024 470,191 408,467 35.241 913,899 NET BOOK VALUE Al 31 March 2024 1.191.792 121.378 11,745 1.324.915 At 31 March 2023 773.507 116.533 23,492 913,532 12. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2024 2023 Trade debtors Other debtors Prepayments 36.018 61,738 8.638 154,318 2,343 9.209 106,394 165,870 13. CREDITORS: AMOUNTS FALLING DUE wrrHIN ONE YEAR 2024 2023 Trade credTtors Social securty and other taxes Accrued expenses 72,262 5.938 83.094 12,526 4,153 74,810 161.294 91.489 Note5 tv th& Financial Stotemonts- crantinu fortheyear Ende4 31 Morch 2024 32
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 14. MOVEMENT IN FUNDS Net movement in funds Transfers beeen funds At 3113124 At 114123 Unrestricted funds Unrestricted Fund 255.300 (115.8761 222,947 362,371 Restricted funds Restricted Fund 1,751,130 682,177 1222.947) 2,210.360 TOTAL FUNDS 2.006.430 566.301 2,572,731 Net movement in funds. included in the above are as follows: Incoming resources Resources Movement expended in funds Unrestrtcted funds Unrestricted Fund 213.688 1329,564) (115,8761 Restricted funds Restricted Fund 2.238.009 11.555.832) 682,177 TOTAL FUNDS 2.451,697 {1,885,396) 566,301 Comparatlves for movement in funds Net movement in funds Transfers between funds At 3113123 At 114122 Unrestricted funds Unrestricted Fund 190.269 {119.604) 184.635 255,300 Restrfcted funds Restricted Fund 1.698,598 237.167 1184.635) 1.751,130 TOTAL FUNDS 1,888.867 117.563 2,006,430 rtes to thè Firhancial Statwn8nts-continu8d fortheyeor Ended 31 Mor¢h 2024 ThvMuJirWork•<Churrty) 33
NOTES TO THE FINANCIAL STATEMENTS (¢owriNvED) FOR THE YEAR ENDED 31 MARCH 2024 14. MOVEMENT IN FUNDS- continued Comparative nel movement in funds. included in the above are as follows: Incoming resources Resources expended Movement in funds Unrestricted funds Unrestricted Fund 171.026 1290.630) 1119,604} Restricted funds Restricted Fund 1.503.995 11.266.828) 237,167 TOTAL FUNDS 1.675,021 {1.557.458) 117,563 A current year 12 months and prior year 12 months combined [$t{lon is as follows." Nel movement in funds Transfers beeen funds At 3113124 Al 114122 Unrestricted funds Unrestricted Fund 190.269 {235.480) 407,582 362,371 R8stricted funds Restricted Fund 1.698.598 919.344 {407,5821 2.210,360 TOTAL FUNDS 1.888,867 683.864 2.572,731 A Cunt year 12 months and prior year 12 months combined nel movement in funds. included in the above are as follows.. Incoming resources Resources expended Movement in funds Unrestrlcted funds Unrestricted Fund 384,714 (620.1941 1235.480) Restricted funds Restricted Fund 3,742,004 (2.822,6601 919,344 TOTAL FUNDS 4,126,718 13,442,854) 683.864 Not85to tho Financial St<rtefflents- continued f¢r the Year ETrded 31 Morch 2024 Th•l*JskWorkn(Charlty) 34
NOTES TO THE FINANCIAL STATEMENTS (COP4TINUED) FOR THE YEAFI ENDED 31 MARCH 2024 15. RELATED PARTY DISCLOSURES There were no related party transactions for the year ended 31 March 2024. Note5 to the FinaThtiol 5ttstemertts_ ¢Ontinv¢d for the Yegr Ended 31 March 2024 35
DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2024 2024 2023 INCOME AND ENDOWMENTS Investment income Bank Interest 6.514 2,252 Charitable activities Donations Trusts & Foundations Donations Individuals Donations - in kind sponsorship Gloucestershire County Council Paul Hamlyn Foundation The Prudence Tnjst GIOUster Guildhall Police and Crime Commissioner for Gloucestershire CAF Keystone Fund Charles Hayward Foundation PRS Foundation Arts Council England Barnwood Tnjst Make Music Gloucestershire Youth Music The Henry Smith Charity BBC Children in Need Gloucester County Council {of course we can) 29th May Charity Cheltenham Borough Council The Chimo Tnjsl Garfield Weston Foundation The Venture Comrnunity Hub Gloucester Community Foundation (Freemasonsl The High Shertff of Gloucestershire's Fund Sl James's Place Charitsble Foundation Thity Percy The Comino Foundation The Julia and Hans Rausing Trust Masonic Charitable Foundation The Bally Thomas Charitable Fund The Karlsson Jaliva Charitable Foundation Esmée Fairbairn Foundation Gloucester City Council Drake Music Ramami Famity Fund Metal for Good The Wiggin Charitable Foundation Carried foTward 16,000 101,089 13.662 15.336 22,837 25,026 713 5,000 77,000 89,870 16.400 91,255 10.000 24,504 20.000 11.000 86,500 103,071 212,683 50,000 20,000 18,000 7,500 26,250 20,000 11,000 92.850 39,574 224,000 45,000 20,000 2,000 10,500 5,000 3,400 30.000 30,000 2,500 2,000 2,500 22,500 126,016 100.000 10,000 20,000 25,000 8,000 28,248 50,000 5,000 1,OCN) 1,500 2.000 28,248 60,000 20.000 35,000 1,035.184 1.111.348 This page doe5 not form part of the statutory finonciol statements D•tuiled 5ttytemtnt ¢f Financial Acbwti85 for th•Y•ar End 3T Marrh 2024 36
DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2024 2024 2023 Charitable activitie5 Brought forward National Express Foundation The Pied Piper Appeal The Free Hospital Trust Youth Investment Fund FoOe Foundation 1,111.348 2,500 30.000 1.500 638.945 30.000 1.035.184 41,582 30,000 1,814,293 1.106.766 Other income Fees Sales Other Income Sponsorship 418,839 211,051 224,310 301.279 21.414 19.000 1,0(K) 630,890 566,003 Total Incoming rnsources 2,451.697 1,675,021 EXPENDuRE Charttable activitles Wages and Salaries Social security Pensions Insuran Staff Training and Development Depreciation 820,920 62.099 31,484 5,797 35,759 258,863 747.356 66.412 22,689 2,861 24,680 197.185 1.214,922 1,061.183 Support costs Management Management and Admin Fundraising Project Delivery Costs Publicity. Comms & Marketing Monitoring and Evaluation Equipment Renewals Subscriptions ar5d Memberships 95.516 61,003 480,488 14,883 15,4331 5,160 8,079 51,111 44,605 370,785 12,628 {5,997} 5,213 6,615 659.696 484.960 Infomiation technology Repairs and renewals 2.258 275 This poge does not form part of the stotvtory financial statements Detoiled Statèmèntof Finuilcvjl forthe Yeor ETrded 31 March 2024 Th•MuiKWork6(Ch#rfty) 37
DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2024 2024 2023 Information technology Governance costs Auditors, remuneration Auditors, remuneration for non audit work 7.200 1,320 6,600 4.440 8,520 11.040 Total resources expended 1.885,396 1.557,458 Net Income 566,301 117,563 This poge does not form part of the statutory financial statements Detailed Staternent of Fin¢)nuol ArtiwtiÈs fDr the Yeor Ended 31 March 2024 38
THE MUSIC WORKS COMPANY REGISTRATION NUMBER: 05195345 CHARITY REGISTRATION NUMBER: 1106979