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CONTENTS TFIUSTEES. ANNUAL REPOAT (INCLUDING THE TFIUSTEES. REPORT) REFERENCE AND ADMINISTRATIVE DETAILS 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 1-16 FIEPORT OF THE INDEPENDENT AUDITOFIS 17-19 OPINION CONCLUSIONS RELATINGTO GOING CONCERN OTHER INFORMATION OPINIONS ON OTHER MArrERS PRESCRIBED BY THE 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 FINANCIAL ACTIVITIES (INCLUDING AN INCOME AND EXPENDITUFIE ACCOUNT) 20 STATEMENT OF FINANCIAL POSITION 21 STATEMENT OF CASH FLOWS 22 NOTES TO THE STATEMENT OF CASH FLOWS 23 NOTES TO THE FINANCIAL STATEMENTS 24-31 DETAILED STATEMENT OF FINANCIAL ACTIVITIES 32-33
The trustees. who are also the directors of the charity for the pvrp05es of company law, present their report and the financiol stotements of the charity for the year ended 31 March 2025. The trustees hove adopted the provisions of Accounting and Reporting by Chorities: Statement of Recommended Proctice. opplicable to chorities preporing their accounts in accordance with the Finonciol Reporting Standard. applicoble in the UK and Republic of Irelond IFRS 102) (effective 1 January 2019). Registered chority namo The Music Work5 (Charity) Chority registrotion number 1106979 Compony rngistration number 05195345 Principal office arKI regi5t•red office Kings House 27 St Aldate Street Gloucester GL11RP Trustees Stuort Coirns Versha Carter 19 November 2018 10 July 2017 (resigned 28 July 2025) 23 May 2022 11 December 2023 25 March 2024 27 November 2015 25 March 2021 26 September 2022 25 November 2022 (resigned 27 January 2025) 17 August 2017 (resigned 29 October 2024) 28 October 2021 (resigned 30 Ortober 2024) 28 July 2025 Ben Conie Gemma Cropper Maheen Rasul Alexander Ross Natalie Sodz Rupert Walters Gerald Doherty Jonothon Knight Caroline Norbury Gail Johnson Independent Ouditor Millhall Consultants Ltd Carlson Suite 4th Floor. Building 8 Vantage Point Business Village Mitcheldean Gloucestershire GL17 ODD
STRUCTURE, GOVERNANCE AND MANAGEMENT Company infornirtion The Music Works (Charity) 15 a charitoble company limited by guarantee. incorporoted in England and Wales on 2 August 2004 under compony number 05195345 and registsred 05 o chority on 25 November 2004 under charity number 1106979. The compony vlas established under a memorandurn of 0$)Ciation which detoils the objects and powers of the charitoble comF)any ond is governed under its articles of association. The nome of the company was chonged from Forest of Dean Music Mokers to Gloucestershire Music Makers on 17th October 2011. In January 2015 0 new troding name. 'The Music Works.. was ogreed 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. Management Working under the direction of the board, the chority is led by the chief executive officer (CEO). A staff teom of 30 (as of 31/03/2025) provide management and delivery functions. The stoff team ond overall monagement of the charity is overseen by the board of trustees (who ore also the directors of the charity). The chority also use5 approximately 18 freelance music leaders ond 64 volvnteers to deliver its services. This allows e55ential flexibility to deliver o wide range of services acr055 the covnty of Gloucestershire. In January 2025. Molaki Potterson (previously the charity's Artistic Director) wos appointed os the new CEO. Appointment of the chair The chair is OPF)ointed from within the trv5tee5 or through open odvertisement. Method of recruiting and appointing new trustees Recruitment is by open odvertisement based on identified skills, knowledge ond competency gops. The recruitment process is led by the CEO. They will work with the choir. whose responsibility it is to make ony recommendations for appointment to the trustees for confirmation. We ore committed to ensurin9 that at least half of our botsrd ore young people and/or those with lived experience of challenging circumstances.
Organi5Qtionol structure ond decision-making The trustees meet at least four times o yeor to discuss the strategic d1ctIon of the charity, ensure its core oims ond objectives are being met in the m05t efFicient wayi take account of ony risks to the charity and ensure that all legal obligations ore sotisfied. Outside of meetings. the day-to-day business of the chority is delegated to the CEO and through them to other Staff. We also have a governonce framework that ensures young people are at the heart of our deci5i0n- moking. Young people on our board who make stratsgy decisions, evaluate impact ond sign off budgets. Young people who are octivety involved in chompioning ond influencing music for other young people through The Music Works. They may porticipate in ovr talent development programme (Upsurge). join a youth voice group or sit on our youth odvisory group. They advise on programming. h05ting events and are octively engaged with delivering activity. INFLUÉP4C£A ACTIV PAFITICPAhrr Young people who hove mode the decision to get involved ond do something. This might involve coming to o session. octively engaging with our social medio or simply vtili5ing our resources ot home. Young people who are following ovr 50cioI media or have signed up to our newsletter. Young people who hove heard of us and perhaps encountered u5 from time to tirne but aren't yet really engoging with us.
OBJECTS AND ACTIVITIES Objects, mission and values Ovr objects, os stotsd in our articles of association. ore 'to odvonce the education of the pvblic in the making of music and related activities, porticularly children and young people.. Within these governing parameters, our core mission is to inspire and transform young lives through the power of music. We envision o world in which everyyoun9 person can tap into their vnique creativity and thrive in life. This year we worked with a totol of 8.130 young people: 3.904 through schoo15, community. educational Settings and studios ond a further 4.226 through events. We have studios in Gloucester and the Forest of Dean and work across the county in Schools and wth community partners. We're open to the whole ommunity but specifically target young people from challenging circumstance5 and those who are underrepresented in the creotive sector. Thi5 includes those from young people from lower-income fomilies, those involved in the youth justice system. yovng people navigoting emotional and mental health challenges. neurodivergent young people. D/deaf and disabled young people, LGBTQ+ young people, and young people from Global Majority communities. Our strategic framework encompasses our overall vision ond mission. detailing ovr artistic vision. and the principles. values and enablers that guide ond shape our work and the outcomes we're focused on o¢hieving. All our work is underpinned by our core volues of authenticity. inclvsivity, youth-voice, and innovation ond is delivered using o theory of change based on the self-determination theorys one of the most well- evidenced fromeworks for improving empowerment. wellbeing ond motivation. It has three comF)onents: Avtonomy our whole approoch is led by young people and focuses on supporting them to feel in control. We help them make the music that they want to make. at their own pace and in their own way. Competence: so often the young people that we work with have not felt successful in their live5. We're all about moking them feel good at something and our music leoders ore highly skilled ot finding ways to drow out ond celebrote success in a way thot's meoningful to eoch individual. Relatednes> this is about making the young person feel connected. Initiolly this will focus on connection with the music leader, but. over time. we will facilitate connectedness with other young CatiVeS either through moking music together, performing together or just hanging ovt in the same creative space. Qur monitoring and evaluation fromework captures informotion that helps us meosvre wellbeing. artistic development and Seadership. We use the Short Warwick-Edinburgh Mental Wellbeing Scale (SWEMWBS) to measure incre05ed wellbeing ond other bespoke formats to capture information around self-determinotion, belonging. artistic voice, confidence ond visionary thinking. Our leadership outcomes focus on the grovrth of social-emotional oworeness. adoptobility, resilience and influence with peers. We believe that everyone ho5 creative potential and that talent of every kind 5hovld be nurtured and celebrated. We work with youn9 people to engage them through rnusic ond creativity. to build confidence. self-belief ond motivotion ond to empower them to reoch their potentiol in music, leorning and in life. We strive for quality and artistic excellence without comprornising occessibility. An introduction to our work can be found here: h ncv
Core activities Our work helps young people build confidence, self-belief. and motivation. enabling them to re-engoge with learning at)d life. We offer fleble progression routes ocross ond between progrommes. from first access through to creative careers. Our core progrommes foll into the following strands: Open acce55 after-school, weekend. and holiday dro*tn sessions Disability progmmmes with odaptive technology and sensory equipment Ikcreative health interventions for young people experiencing mental health challenges, heolth inequalities ond long-term conditions. Specialist intervention prevention work with young people involved in. or on the fringes of the youth justice system Targeted work with Alternative Schools Provision for young people excluded from mainstream educotion Community outreach sessions on our mobile recordin9 Studio Music Bu5 Whole-class music technology and songwriting programmes ond performance opportunities for primary. secondary and speciol xhools Artist development and creative coreers pro9rammes with industry stondard training. Specialist workshops ond mosterclasses Creative industry conferences Events and festiva15. which provide platforms for yovng musicion5 Broadcasting opportunities through podcasts and online radio Over the 2022-26 bu5ine5s plon period we'll also be exploring the development of new area5 of work including: Training and consultoncy Advocacy and campaign5 Awording and certificotion Artist and label services and publishing arm. Collaborntion is core to our mission and wè work with a huge range of industryi Stratsgic and delivery partners locally. notionally and internationally induding: IKGSW Music Hub NHS Gloucestershire Integroted Care Boord Youth Justice Child and Adolescent Mentol Health Service Gloucestershire County Council University of Gloucestershire County wide education establishments. including mainstrearn and SEND 5choo15, olternotive provision Settings and post 16 colleges. Bornwood Trust Gloucester Culture Trust. Create Gloucestershire and the wider arts sector Ikyoung Gloucestershire. VCS Alliance and wideryouth & community sector PRS Foundation YouTube IKWarner Chappell Music
PUBLIC BENEFIT Music hos the capacity to inspire ond uplift. fostsring joy orml connection among individuals from diverse backgrounds. At The Music Work5. we see its profound impact on young people. particularly those facing chollenging circumstances. Music not only enhanS their present by raising ospirotion5 and strengthening social ond emotional wellbein9, but it olso creates Opportunities for long-term transformation, helping them build brighter futures. The tnJstees have considered the Charity Commission's guidance on public benefit when reviewing organisational strotegy ond planning future activities and are satisfied thot The Music Works continues to have significant choritable purF)ose and deliver5 tangible public benefit to young people in Gloucestershire. At the heort of this is the fundomental belief thot engagement in music-making provide5 huge benefits to individuals and communitie5 in terms ofr. promoting enjoyment ond inclusion in mvsic. so that everyone ha5 o chance to discover their voice or musical skill ond explore how music could enhance their life improving people'5 mentol health and social ond physical wellbeing by working with people affected by poor emotional and mental health, those with specific disobilities. or young people at risk of offending engaging ond motivating young people in education by increasing attoinment and helping them progress through vocotionol or ocademic routes and into employment developing musical talent by improving progression pathways for musicians arKI technicians and supporting yovng leaders developing the music workforce by enhoncing the region's capocity to deliver more accessible, high- qvolity music provision through the troining of musicion5, music leaders. teoching staff and youth workers increosing understanding omong policymakers and funders around the importonee of music in transforming lives and building support for the sector now and in the future. The importance of inclusion os 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 thot includes everyone and all types of music. leading to o range of outcome5 to which we firmly olign. Musical inclusion is 'on approach to music teaching and leorning that rneons oll children ond young people can make music. whatever their background or circum5tonces. It's abovt embracing every style and genre of music. It's about creating occess to music- making in the first place and providing the right support ond opportunities so thot young people can progre55 on their individual journey. And it's about music leaders hawng the right skills and resovrces to help eoch young person fulfil their potential., Youth Muslc
ACHIEVEMENTS AND PERFORMANCE l April 2024 - 31 March 2025 YEAR SUMMARY This year, we have seen a change in leadership with the appointment of Malaki Potterson (formerly our Artistic Director) to the position of CEO. With this new appointment, we took the decision to evolve ovr leadership structure to better align with our strategic vision and future growth. We now have four directors: a director of national programmes. a director of community and place. a dirertor of music educotion and a director of finance. During 2024/25. our GIoUster Hub remoined a thriving community venue that drew in young people from across the county. eoger to connect. collaborate and moke music they're passionote about. In September 2024. inspired by the success of the Gloucester Hub, we officiolly opened ovr Forest Hub in Cinderford. Though smoller. this fvlly accessible space mirrors the Gloucester Hub's design. offering a sensory room. di9itol suite and multiple production rooms. We're committed to exponding activitie5 Qt the Forest Hub ensuring it becomes a vital community resource capable of transforming the lives of young people in the area. In partnership with Youth Justice ond the Integrated Core Board. we hove continued to expand our one-to-one intervention and prevention programmes. This work ha5 drawn considerable national attention, enabling us to share ovr methodology ond impact as exomple5 of best proctice. Our commitment and dedication to this oreo of work have continued to receive V¥lldespreod recognition and in 2024, we were delighted to be receive the Health Equolities Award at the NHS Parliamentory Awards. This accolade is o testoment to our success in harnessing the power of mvsic to transform the lives of young people. particularly those navigating challenging circumstonces. After refining our ortistic vision ot the beginning of the year. we hove focused on redeveloping our 5trotegic fromework. which now in addition to wellbeing. also incorporates artistic ond leadership outrome$ 0$ impact measurement t¢15. We have flooted our record label Onatura orKI it 15 now its own artist services componyi which includes the joint publishing venture with Warner Chappell Mvsic. It acts os o partner to The Music Works ond will. by shoring o percentage of its profits Wlth us. contribute to our financial sUPPOrt. This initiotive will help to support the grovrth and development of regionol talent. while also providing us with a valuoble opportunity to diversify our income streams. Following an internol review. we made the decision to scale back Music Leader5 UK. However, we will continue to develop and test the curriculum and content of the quolification internally. as part our own training progromrne. We hove olso expanded ovr youth voice work this year and cated a youth sociol action group that hos been busy developing octivities that odvocate for social justice. Central to this commitment is our design of the governance fromework for the GSW Music Hub, which embeds young people at every level of decision-making throvgh youth advisory positions. young people on the board and o young co-choir role. Moving forword. while our work will remoin rooted in local delivery. we're also committed to amplifying our notional inflvence by octively sharing best prartice.
COMMUNITY AND PLACE In 2024/25. we've engoged over 2.200 young people throughout the county across community programmes (646 through open access, 772 through outreach. 823 through disobility programmes). Hub development In September 2024. we successfully launched our new £1 million inclusive mvsic hub in Cinderford. This hub is o first for the oreo. providing an accessible music spoce for the entire Forest of Dean community. We estoblished o hub-ond-swke model to expand our reach. combining our central Cinderford location with mobile ond partner5hip-based outreach programmes across the Forest of Deon. This approach ollows us to reach individuals who previously foced barriers to porticipotion. Community co-creation lies at the heart of our Hub's development. As such. all of its 2024/25 programming was designed in collaboration with our Forest of Deon Youth Advisory Group which comprised of young people from underrepresented demographic5. We've also built strong and lasting strategic partnerships with over 20 local organisotion5, including distrirt, town and parish councils. cultural orgonisotions, schools and commvnity groups. By leveraging their expertise and networks. we've been able to provide a wider range of musical opportunitie5 to more people in the community. Open Access programme expansion This year. our open access programme experienced 5ignificont growth, with 0 52OA increase in porticipotion (from 424 to 646 young people). We delivered 219 open access sessions ocross our Gloucester and Forest of Dean hubs, on 18% increase from last year. The new Forest Hub was a major driver of this succes5, With The Drop Forest, progromme seeing 0 485% increase in participonts, growing from 27 to 158. We olso successfully maintained all key Gloucester programmes, including The Drop. Music Social. Pass the Mic and our holiday programmes while expanding ovr weekly schedule to offer 10 weekly open occess sessions ocross both hubs. This helped to ensvre more opportvnities for young people to engage in creative and youth-led mvsic-making. Outreaeh stratsgy development During 2024/2S. we delivered 129 outreoch and Music Bus sessions. reaching 772 yovng people acr055 our torget communities. Our approoch evolved from a mobile-only service into a powerful vehicle for community engagement ond we moved from simply delivering sessions to building sustoinoble relationships ond meaningful community connections. This shift to o multi-modol approach integrated community events. showcases. portnership development and stokeholder relationship management. It hos yielded fantastic results. including the co-creation of programmes ond bespoke initiatives with key partners like Blokeney Youth Club and Coleford 8aptist Chvrch. We also become on integral part of local events, enhancing our visibility ond worknng in colloborotion with partners to provide young people with performonce opportunitie5 Qt Cindyfest and the Coleford Music Festival. Youth voice stratsgic development Thi5 yeor. we've loid the groundwork for a new. comprehensive approach to youth development. We've become o strotegic partner in the Gloucester Svmmer Youth Fund. helping to provide vital support and funding to young people during the summer through the county-wide 'youth contract.. We olso introduced o new youth social programme to serve as o crucial first entry point for young people keen to discover their voice ond begin their journey with youth engagement. We continved ovr 5ucce5sful Youth Social Action (YSA) programme. ensvring that projects were designed and led by young people ond have created cleor pathwoy5 for yovng people to odvonce into leodership roles and become co- owners of programmes. And to guide this work. we developed a comprehensive youth voice strotegy bosed on four key pillars: 1. safe. first entry engagement. 2. building confidence and self-esteem. 3. the creation of clear progression pothwoys and 4. youth-led co-production.
Disability programme growth This year. we delivered 670 hours of torgeted music intenrfention with 823 disobled young people. Beyond these sessions. our Mix & Mash Short Breaks programme offered 50 hours of respite for families and corers. We improved the accessibility of our Mobile Mix and Mosh sessions by bringing disobility-specific programming directly to community venues and ensuring that every Music 8us session is accessible. Our digital reach olso 9rew. with the Mix & Mash radio programme goining popularity and averaging 218 monthly listens (2.627 annual listens). We continved to foster creotive growth through our DJ Collective programme. which provided a safe space for 47 adults with learning difficulties and disabilities to meet, share their love of music. ond proctice for performances across Gloucestershire. This year. they engaged in 37 creative music-making sessions. Following o year's worth of intensive preporation. we held our highly successful annual inclusive festival, INCFest in June 2024. Involving 8 schools ond 469 young people in rehearsals, the event showcosed the talent of 104 disabled young performers, to an audience of over 300. Our new Cinderford hub has helped to addre55 the gap in occessible music provision in the Forest of Deon, with Specialist adaptive ond sensory equipment. and changing ploces facilitie5 providing the amenities for young disabled people in the area to have occe5s ts high quality music making opportunities. TARGETED PROGRAMMES Health Key Chonges Key Changes is The Musit Works. mental health programme. offering 10 5e55ions of music mentoring to young people experiencing low-to-medium level mental health challenges. Designed for maximum occessibility. the progromme welcomes both self-referrals and referrols from services including social prescribing. Children and Mental Heolth SeNces (CAMHS). education and youth supporL 2024/25 marked another 5vccessful year. delivering 1,001 sessions to 175 young people. with 147 receiving one- to-one support ond 35 occessing group rnentoring. Programme delivery centres on young people's interests ond is grounded in self-determination theory. Corefully matched music leaders work with participants to Use music as a vehicle for building confidence. fostering connections and developing skills. During 2024/25, the programme produced significant positive shifts in participant wellbein9: low wellbeing decreased from 50% to 27%. while high wellbeing increased from 2% to 15% and 54% of participants hod o significant increase (one point or more). This year concludes the dots collection phase of our reseorth partnership with the University of Glovcestershire. We look forward to the completion of the evolvation in 2025n6. Gloucestershire Creative Heolth Consortium As port of the Gloucestershire Creative Health Consortium. dvring 2024/25, we continued to empower young people with long-term health condition5 through ovr Xpre51 Progromme, delivering 9 sessions to 45 young people referred by their consultant or clinicol team. Our Tronsitions programme 5UPPOrted 87 pupils ocross 12 schools. helping them navigate anxiety around the move from primary to secondary school. Community Connertors Thi5 yeor marked the first full year of our Community Connectors programme, delivered in portnership with the Gloucester Community Building Collective and funded by NHS England. This co-produced initiative recruited two young community connectors Q5 freeloncer5 to engage with young people from Block ond diverse ethnic commvnities. identifying barrier5 they face when occessing mental health services.
Health Inequalities In 2024/25, NHS England recommissioned The Music Works to address heolth ineqvolities affecting young people in Gloucester through music interventions. Mony locol communities struggle to access heolthcare. porticulorly those from Block and diverse ethnic bockgrounds. yovng people in or leaving core, those excluded from school and young offenders. These groups experience disproportionately higher rote5 of mental health issues and substance misuse yet are far less likely to engoge with health and support services. Our response involves diverse sessions at our Gloucester Hub including one-to- one mentoring. small groups. drop-in sessions. community outreach and holiday programmes. Durin9 2024-25. the progromme engoged 1.214 yovng people across 2598 sessions. Youth Violence Prevention and Intervention Making It Making It has continued throughout 2024/25. engaging 19 young people through one-to-one se55i0n5 and 42 through group work. All one-to-one participonts were either at risk of offending or had already offended. Our music leaders delivered 135 sessions focused on building confidence, self-esteem and resilience while estoblishing 5UStained relation5hip5 With trusted adults in a safe. creative environment. Pass the Mic group sessions enabled young people to develop their skills and strengthen their 5en5e of belonging within their peer group ond our organisotion's wider community. Notably. 85% of the 2024- 25 participants had not reoffended by year-end. Tackling anti-50cial b•hoviovr Our stote-of-the-art mobile recording studio. the Music Bus. continued to prove instrumental in oddressing anti-social behaviour in disadvantaged communitie5 acro55 Gloucestershi. Using o detached youth work approach. our music leaders bring music-making directly to commvnities, engaging young people with positive opportunitie5 to develop skills, collaborote ond experiment with music while connecting with familie5 and peers. Funded by the OfFice for the PoSice and Crime Commissioner, the Music Bus targets anti-social behoviour hotspots as directed by neighbourhood policing teams. During 2024ns. we delivered five 10-week music progromme5, ond 9 one-doy sessions ond events. working with 263 young people. Altsrnrtlve provlslon Our F>artnership with olternotive provision schools continued throvghout 2024-25. providing effective secondary intep4ention for young people whose need5 aren't met in moinstreom education. These students typically present with higher levels of social, emotional and mental heolth needs and often exist on the fringes of criminolity. Our opprooch. rooted in self-determination theory. enables music leaders to deliver innovative. youth-led music education to students in o stote-of-the-art Studio environment. while ot the some time encovroges porticiponts to build productive worknng relotionships with trusted adults oll of which leads to the developrnent of skills. self-belief and improved ottainment levels. This year. we delivered 167 sessions to 156 young people (from KS2 to KS4) across three schools (most now unified under one mvlti-acodemy trust). Among the KS4 students. 4 achieved Silver Arts Awards and 5 achieved Bronze Arts Aword5. EDUCATION This year, we've focused on honing a blueprint for a more equitable and impactfvl mvsic education approach and exploring how this might look in a national contexL Delivery Sn schools During 2024/25. oureducotion programmehas solidified its position 05 aninnovative re5eorch ond development base. directly feeding into our broader vision for contemporory. relevant and yovth-led music educotion. Our delivery in Schools continues to thrive, providing young people ocross Gloucestershire with diverse and impactful music-making opportunities. 10
Music technology Ovrwhole-class iPad music technology se5sionshove been o huge success. running otfull capacitywith schools keen to sign up ond embrace modern music-moking. These sessions. which introduce students to intuitive tools for composition ond production. give young people creotive autonomy and enable them to embrace emerging trend5. The sessions have consistently received positive feedback from both school leaders and young people,with one school noting how mvch knowledge, inspiration and confidence children had goined from them. Teocher training In 2024/25. we empowered educators by delivering o teacher training day for music leods across Gloucestershire. Attended by over 35 schools, this professional development opportunity was exceptionally well-received. By building confidence and enthusiosm for teaching music, we're helping to widen musical leorning experiences across the county, disseminate best practice ond drive systemic change. 'Voice Collective in a Da We developed ond successfully triolled o new 'Voice Collective in o Doy, to make our programmes more accessible. This high-quolity. youth-led music experience provides o more fleble and offordable option for schools. With five schools having already token vp this offer. this initiotive showcases the demand from schools to engage in different ways. SEN/D schools This year. we continued todeliver transformotive session5 to special educotionol needs ond disabilities (SEN/D) schools. providing an inclusive environment in which all young people could engage with music. A significant highlight in our education portfolio was INCFest. the inclvsive music festival that brings togetherover 100 young people from 8 different SEN/D schoolsfor a moving and powerful performance. This festival exemplifies our commitment to high-quality artistic experiences ond youth- led development. enabling young people to imogine beyond perceived limitotions. Gloucestershire. Swindon & Wiltshire (GSW) Music Hub Thi5 year, os a leod organisation on the Gloucestershire, Swindon & Wiltshire (GSW) Music Hub's executive team. we ployed o key strotegic role in making music education across the region more inclusive and youth-led. We are committed to challenging conventionol methods and ensuring the Hub's strategy aligns with contemF)orary industry relevonce. We scoped the Hub's needs and co-developed two research projects, on youth voice in mvsic education ond inclusive practice in schools. These findings are shaping future strategy and investment priorities. guided by young people's voices and best practice. Alongside other lead portners. we supported delivery of music provision to schools ocr055 the region. expanding access for thousands of young people. We olso embedded youth voice by oppointing three young people to the board. one as co-choir. and introduced an ambitious inclusion strategy to ensure provision is occessible, equitable and relevont Music Leaders UK (MLUK) Music Leoders UK (MLUK) was creoted to bridge o gap in music educotion by combining youth-led leadership with musical skills into a recognised qualification. After a successful trial in local schools, and in response to national developments, funder ond teacher feedbock, ond our role within the GSW Hub, we've decided that MLUK will now take a more holistic approach to be better connected to our creative careers pipeline and aligned with The Music Work5, Qutcomes. While the need for on olternative music qualification remoins, aligning MLUK more closely with our strategy will maximise its impact on both the wider music educotion landscope ond young people's experiences. 11
CREATIVE CAFIEERS Upsury• For young artists and creotives oged 18-30 keen to launch their coreer in the music industry. our creative coreers programme Upsurge provides the perfect plotform. A year long progromme comprised of three strands: artist development. creative development and studio engineering, Upsurge provides participants with access to one-to-one mentoring, knowledge and skill development, pivotal work experience. networking and performance opportunitie5 as well as our state-of-the-art recording studios and equipment. During 2024/25, we supported 40 young people through our progromme: 19 artists. 7 creatives and 14 sound engineers and continve to support 75 Upsurge alumni. Highlights from this year include Upsurge ortist Crispin going wral on TikTok and securing 0 signin9 With record label AWAL and Stroud-bo5ed ortist Pebble Doisy securing an ortist-in-re5idence spot ot the Sub Rooms. Furthermore, two other ortlSts received funding to help them develop their creative proctice and continue their artist development journey and multiple orti5ts Secured showcasing opportunities at voriou5 venues including the Cheltenhom Jazz Festival and Wychwood Festival. Masterclosses Our masterclasses offer aspiring young Qrt15ts and creatives the chance to build comprehensive insider knowledge and understanding of the music industry as well as the opportunity to network and build gome-changing relation5hip5 Wlth key industry professionols. Our clo55e5 aim to inspire and upskill young people ond leave them feeling confident and eqvipped to embork on a career in the creative sector. During 2024/25, we delivered 30 masterclasses reoching o total of 355 young people. Se55ion5 inclvded 'Branding 101, with Benjy Kusi. 'YouTvbe and Releose Strategy, with Corbyn Asbury and o standout 'Vocal Fundomentals, workshop with professional vocal coach, Robert Short. which covered mic plocement techniques ond specific vocal wormups for rappers. Creative Futures Creative Futures returned this year as our flagship creative indvstry event, delivered in partnership with Worner Chappell Music ond 88C Introducing. Creative Futures is a two-day networking and conference event. designed to inspire. educate and empower the next generation of music industry professionals and artists, unlock their potentiol and create pathwoy5 for them, where none existed before. For many of our young creatives, this event represents their first meaningful connection to the music industryt opening doors to knowledge. neOrkS and opportunities that would otherwise remain out of reoch. Our opening day brought together industry veterons and emerging tolent through corefully cvroted panels, insightful talks ond invalvable A&R listening sessions. Locol ortists received direct feedback from indv5try professionals, gaining rore occess to the expertise typicolly reserved for established acts. The second doy transformed theory into practice through an intensive writing comp, where participants worked olongside octive industry professionals. This honds-on experience provided 107 young people with real-world insight into the collaborotive process that drives today's music indvstry. Onaturo After testing and piloting ortist services through Onatura under The Music Works, we have decided to establish it as o star)dalone compony thot wll act os a partner to The Music Works while contributing finonciol support through a percentage of its profits. Following our testing of various models, we believe it would be best to create a cleor distinction between the artist services and the tolent development initiatives of the chority. The joint venture with Worner Chappell Mvsic has now been established and is operating through Onatvro with Upsurge olumni artists continuing to use the platform to distribute their music and receive artist Services. Onatura is committed to supporting young emerging tolent and providing guidance to build creative coreers within the music industry offering artists fair deals while they continue to develop their careers. 12
EVENTS Kings Jam This yeor we decided to run King5 Jom os a pop up. dve to time pre55ures ond lack of funding for o full festival. Kings Jom 'Bors In The Pork, 2024, 5vcce55fully reinforced our mission to provide accessible creotive opportunities for young people across Gloucester, bringing together 85+ unique participants ond ottracted an audience of 284. The event demonstrated our commitment to inclusive youth engagement with 66.6% of attendees under 25. Additionally, o remorkoble 70.6% of ottendees were from ethnically diverse backgrounds. The festivol achieved exceptionol 5atisfoction levels. with 45.1% of participants rating the event 10/10 ond 78.4% providin9 on overall satisfaction of above 7/10. The basketboll competition. music programming ond community atmosphere were specifically singled out for praise. Although the festivol foced some operational challenges, with it being run as a pop-vp for the first time, it provided volvoble leorning opportunities for fvtvre events and successfully creoted a vibront, youth-led spoce thot celebroted local talent and f05tered genuine community connection. We ore working on exciting plans to bring back Kings Jom in 2026 and are exploring alternotive operational models for the festival with the sUPPOrt of locol incubation orgoni5ation GUST. PLANS FOR NEXT YEAR As we look ahead to the 2025/26 financial yeor. The Music Works will continue to develop its notional profile ond estoblish a framework for how ovr work is shared and presented notionolly. We remain focused on becoming a centre of best prortice ond showcasing how music can be used to transform the lives of young people in chollenging circumstances and those underrepresented in the creative industries. A priority will be creating ond developin9 our 'People ond Operations Plan, for 2026-2028. We intend to focus on developing three key areas thot will gvide our orgonisotional development - developing our people ond talent. evolving our volues-led ond inclusive culture ond moximising our efficiency and impact. We'll build on the development of our new outcomes framework. focusing on ensuring that the outcomes are embedded across oll our programmes. with clear measures in ploce to track our impact and demonstrote the effectiveness of our work. We will continue to explore commercial music business opportunities through Onaturo using it as a vehicle to propel artists and creatives into the music industry. Building on ovr portnership with Warner Choppell Music and our music publishing joint ventvre, we'll oim to diversify our income streams while creating meaningfvl opportunities for the young people we supporL SAFEGUARDING This year. we crected o new safeguording teom to help shope our or9anisation'5 5trotegic ond operotionol direction and establish 0 Strong ond responsive safeguarding cvltvre.To support this, we have implemented the use of Potronus o monitoring platform, designed to manage safeguarding concerns, incidents ond compliance requirement5 more securely. By moving to a single, secure digitol platform, we've streamlined how we record. track and manage oll sofeguording concerns which has transformed our safeguarding efforts. 13
FINANCIAL OVERVIEW The chariws account5 for 2024/25 reflect further grovrth in respect of the scole and scope of its haritoble activities and highlight the charity's positive overoll financial health. Key Finon¢iol Heodlin•s £204.000 of one-off capital development investment WQ5 made in respect of the completion of the build and fit ovt of the Forest Hub in Cinderford. which become our second operational music hvb os of September 2024. The chority a55vmed the leod role within the newly formed GSW Hub to develop the governance fromework at a cost of £31.000. Investment in the restricted project delivery programme (£1.6m) increased by 17% compared to 2024. demonstratin9 our continued ombition to reach 05 many young people 0$ possible in Gloucestershire. The year wos agoin not without its challenges. with continued economic pressures on funders and the continuing high cost of living still affecting both fvnders and beneficiories. To ensure our long-term sustainobilityi we continued to explore ways of diversifying our funding strotegy, focusing particulorly on developing trading income through studio hire/fees from our two music hubs. school fees and the commi55ioning of our mental health wor Total net current assets held by the charity were £1.1m. but note. of these assets. only £0.255m are free unrestricted reserves held by vs. with the remainder being committed funds. ur net current assets con be analysed as: £1.2m- cash held ot the bonk £0.1m - debtors (£0.2m) - creditors. urrent Osset5 of (£1.Im), mainly cash at bank. are held in respect of the following- £783,000 -advanced funding received for restricted project delivery in the financial yeor 2025/26 £255,000 - unrestricted free reserves held in line with the board of trustees. reserves policy. which represents 2 months of the full delivery model and 4 month5 of a minimol committed cost model £12,000 - other unrestricted funding secured towards the investment in o CRM system. £50.000- restricted fvnding designoted for retention payments and outstonding liobilities for the Gloucester and Forest hub capital development projects in 2025/26. Fixed 05sets (£1.3m) represent mainty the build ond fit-out investment in the Gloucester and Forest music hubs. Other notes to the accounts xpenditure (see notes 5 and 6 to the accounts) are mainly reported as charitable activity ond other doy-to-doy monagement costs. which are mode up as follows: charitable activity costs- project management. all project delivery costs. studio running costs and equipment purchoses other day-to-day manogement costs - depreciation (£291,000), central staffing. HR. stoff wellbeing, safeguarding, training ond development. central morketing and evoluation, IT ond central odministrotion (consultancy. business development. accountancy. subscriptions. payroll and insurance). TruAts**' dhfwal ff•port fjrtIathe tMt••¢ r•pwt) 14
The direct and 5UPPOrt cost split is fixed under the structure of the stotutory accounts and the £498.000 of support costs from choritoble activities consist of the following, which in true terms ore all part of the cost of projert delivery: £208,000 - freelancers (mainly music leaders) £114.000- venue costs £78,000 - studio running costs £34.000 - direct project morketing ond communicotions £30,000 - event5/workshops £20.000 - travel expenses £14,000- other delivery expenses. Transfers between restricted and unrestricted funds ore reported at £377,732, as reported in note 14. Funding agreements allow 26% of project delivery resource costs to be used for overheod costs and this amounts to £256.381 of tronsfers. with the balance of £121,351. (the planned reallocotion of free reserves), to fund restricted project actiwty. Fees generated by the charity are free reserves bvt are initially accounted for against the respective restricted project octivity thot they relote to. We then agree the respective value to be moved to ovr unrestricted fvnds. RISK MANAGEMENT The identification and mitigotion of risk is a key task for the CEO in consultation with the board of trustees. The trustees maintoin an overall risk onolysis document that logs risk5, probability, impact, management strategy. action ond leod responsibilities. It covers governonce, sofeguarding, operational, financiol, external ond complionce risks. Risk is a Standing Item at all board meetings. STATEMENT OF TRUSTEES. RESPONSIBILITIES The trustees (who are also director5 of The Music Works IChority] for the purposes of company law) are responsible for preporin9 the report of the tnjstees and the financial statements in accordance with applicable low ond United Kingdom Accounting Standards (United Kingdom Generolly Accepted Accounting Practice). Company law requires the trustees to prepare financial statement5 ft)r each financial year, which give o true and fair view of the state of affoir5 of the charitable company and of the incoming resources ond application of resources. including the income ond expenditure of the choritoble company for that period. In preporing those finoncial statements, the trustee5 ore required to: select suitable accounting policie5 and opply them conslstently observe the methods and principles in the Charity SORP make judgements and estimates that are reosonoble and prudent prepare the financial statements on the going concern basis unless it is inappropriote to presume that the charitoble company will continue in business. The trustees are responsible for keeping proper occounting records which disclose with reosonable occurocy at ony tirne, the finontiol position of the charitable company ond to enoble them to ensvre that the financial statements cornply with the Componie5 Act 2006. 15
They are also responsible for safeguarding the assets of the choritable 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 is no relevont audit informotion of which the charitoble company's auditors are unoware the trvstees have taken all the steps they ought to have taken to make themselves aware of any relevant audit informotion ond to establish that the auditors ore aware of that information. AUDITORS The auditors. millhall consultants Itd. will be proposed for reappointment at the forthcoming annual general meeting. Registered office: Kings House. 27 St Aldate Street. Gloucester. Gloucestershire. GL11RP Signed on behalf of the trustees on: Alexander Ross (Chair) ................ Trustees. annual report (including the trustees. report) for the year ending 31 March 2025 The Music Works (Chority) 16
REPORT OF THE INDEPENDENT AUDITORS to the members of The Music Works ccharity) Opinion We have audited the finonciol statements of The Music Works (Charity) (the 'choritable compony,) for the year ended 31 March 2025 which comprise the Statement of Finonciol Activities, the Statement of Finonciol Position. the Stotement of Cash Flows and notes to the financial statements, including o summary of significant occounting policies. The financial reporting fromework that has been applied in their preparation is opplicable law and United Kingdom Accounting Stondard5 (United Kingdom Generolly Accepted Accounting Practice). In our opinion the financial statements: give o true ond foir wew of the state of the charitoble company's affoirs as at 31 March 2025 and of its incoming resources and application of resources, including its income and expenditure. for the year then ended: have been properly prepared in accordance with United Kingdom Generolly Accepted Accounting Practice", ond have been prepared in occordonce with the requirements of the Componies Act 2006. Basis for opinion We conducted our audit in occordance with Internationol Standards on Auditing (UK) (ISAS (UK)) ond opplicoble law. Our responsibilities under those standards are further described in the Auditors, responsibilities for the audit of the financial stotements section of our report. We are independent of the choritoble company in accordonce with the ethical requirements that ore relevant to our audit of the financial statements in the UK. including the FRC'S Ethical Standard, ond we have fulfilled our other ethical responsibilities in accordonce with these requirements. We believe that the oudit evidence we hove obtained is sufficient and appropriate to provide o basis for our opinion. Conclusions relating to going concern In ouditing the finonciol statements. we hove concluded thot the trustees, use of the going concern basis of accounting in the preparation of the financial statements is appropriote. Based on the work we have performed. we hove not identified ony material uncertainties relating to events or conditions that, individually or collectively. moy cast significont doubt on the charitable company's ability to continue os a going Concern for a period of at least twelve months from when the financial statements are authorised for issue. Ovr responsibilities and the responsibilities of the tnJstee5 With speCt to going concern ore described in the relevant sections of this report. Other inforniation The trustees ore responsible for the other information. The other information comprises the information included in the Annual Report. other than the finoncioS statements ond our Report of the Independent Auditors thereon. Our opinion on the financigl statrments does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not expre55 any form of assurance conclusion thereon. In connection with our audit of the financial statements. our responsibility 15 to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial Statements or our knowledge obtoined in the oudit or otherwise oppeor5 to be materially misstated. 17
If we identify such moteriol inconsistencies or apparent material mi55tatements. we are required to determine whether this 9ives rise to o moteriol mi55totement in the financial statements themselves. If. based on the work we hove performed. we conclude that there is a moteriol mi55totement of this other information. we ore required to report thot foct. We hove nothing to report in this regard. Oplnlons on other matters prescribed by the Companies Art 2006 In our opinion. based on the work undertoken in the course of the audit. the informotion given in the Report of the Tru5tee5 for the financial year for which the financial stotements ore prepared 15 consistent with the finonciol statements". ond the Report of the Trustees hos been prepored in accordonce with opplicable legal requirements. Matters on which we are reqvired to report by exception In the light of the knowledge and understanding of the charitable company ond it5 environment obtoined in the course of the audit. v•e have not identified materiol mi55tgtements in the Report of the Trustees. We have nothing to report in respect of the following matter5 where the Componies Act 2006 requires us to report to you if, in our opinion: adequate accounting records have not been kept or returns odequote for our audit have not been received from bronches not visited by us: or the finonciol statements are not in agreement with the accounting records ond returns; or certain disclosure5 of trustees. remunerotion specified by law are not made,. or we hove not received oll the informotion and explanations we reqvire for our audit. Responsibilities of trustees As exploined more fully in the Statement of Trustees, Respon5ibilitie5, the twstees (who are also the directors of the charitable compony for the purposes of company low) are responsible for the preparation of the financial stotements and for being satisfied that they give o true ond foir view, and for such internal control os the trustees determine is necessory to enable the preparation of financial statements thot ore free from moteriol misstatement. whether due to fraud or error. In preparing the financial statements, the trustees are responsible for assessing the charitoble company's ability to continue os a going concern. disclosing, as opplicoble, mutters related to going concern ond using the 90ing concern bo5is of accounting unless the trustees either intend to liquidate the charitoble company or to ceose operotions. or have no realistic olternative but to do so. Our responsibilities for the ovdit of the financial statements Our objectives are to obtain reasonoble ossuronce obout whether the finonciol statements as a whole ore free from material misstotement, whether due to fraud or error. ond to issue o Report of the Independent Auditors that includes our opinion. Reosonoble ossuronce is o high level of assurance. but is not a guarantee thot on audit conducted in accordance with ISAS (UK) will always detect o materiol misstotement when it exists. Misstatements con arise from fraud or error ond ore considered material if, individually or in the aggre9Ote, they could reasonably be expected to influence the economic decisions of vsers taken on the basis of these finonciol statements. The extent to which our procedures ore capable of detecting irregularitie5, including fraud is detoiled below: we obtoined an understonding of the legal and regulatory fromeworks thot ore opplicoble to the charitable company. These include but ore not limited to compliance within the Companies Act 2006, the Charities Act 2011 and the Chorities SORP (FRS 102)". we agreed the financiol stotement disclosvres to supporting documentation". we made enquires of monagemenL ond we reviewed board minute5 throughovt the yeor. R•portof th 1J•P•d•fit ¢ditory toth• rn•rfftknoffv ml£WO (Chaiity) 18
A further description of our responsibilities for the audit of the financial stotement5 15 located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Independent Auditors. Use of our report This report is made solely to the charitoble company's members. os a body. in accordance with Chapter 3 of Port 16 of the Companies Act 2006. Our oudit work has been undertaken so thot we might state to the charitoble company's members those rnatters we are required to state to them in an avditors, report and for no other purpose. To the fullest extent permitted by law, we do not accept or ossume responsibility to onyone other than the charitable company and the charitable company's members as a body, for our avdit work, for this report. orfor the opinions we have formed. Ben Hall FCA (Senior Statutory Auditor) for ond on behalf of millhall consultants Itd Carlson Suite Vontage Point Busine55 Village Mitcheldean Gloucestershire GL17 ODD 19
STATEMENT OF FINANCIAL ACTIVITIES Clncorporating an Income and Expenditure Account for the year ended 31 March 2025) Unrestrirted fvnds Restrirted furrtls 2025 Totol Funds 2024 Total Funds Notes INCOME AND ENDOWMEps FROM Charitable activities Donotions Grants Investm•nt incom• Oth•r incom• 14.765 60.000 7.017 32,728 55.445 1,368,674 70.210 1.428.674 7.017 580569 130,751 1h83.S42 6,514 630.890 S47,841 Totsl 114.510 1.971.960 2.086,470 2,451,697 EXPENDITURE ON choritsb ortivitl•s Charitable Actiwties Fundroising Costs Governance Costs Other Doy to Doy Mngmt Costs 739 85.443 9.960 277.463 Ih25,984 1.426,723 85.443 9,960 752.913 1.337,826 61,003 8,520 478.047 475,450 Total 373hOS 1.901.434 2,275,039 1,885,396 INCOMV(expENDITURE) Transf•rs betw••n funds {259.095) 163.724 70,526 063.724) 088,56 566,301 N•t movem•nt In fvnds (95371) (93.198) 088.569) 566.301 RECONCILIAnON OF FUNDS Totol of funds brtsvght forw(Jrd 362.371 2.ZIO.360 2,572,731 2,006,430 TOTAL FUNDS CARRIED FORWARD 267,000 2.117.162 2.384.162 2.572.731 The notes forrn part of these firncl01 statements •I)d 31 Mtsrth 2025) 20
STATEMENT OF FINANCIAL POSITION 31 March 2025 Restricted hjnds 2025 Totol Funds 2024 Totol Fur5 Notes fvnds FIXED ASSETS Tangible ossets 11 1,293,816 1,293,816 1,324.915 CURRENT ASSETS Debtors Cosh ot bank 12 33,473 348,980 27.273 831.233 60,746 1,180,213 106.394 1.302.716 382.453 858.506 1,240.959 1.409.110 CREDITORS Amounts foiling due within on• y•ar 13 (115.453) (35.160) (150,613) (161,294) NET CURRENT ASSETS 267.000 823.346 1.090346 1,247.816 TOTAL ASSETS LESS CURREKr LIABIUTIES 267.000 2,117.162 2,384,162 2,572.731 NET ASSErs 267.000 2,117,162 2.384.162 2,572.731 FUNDS Unrestrirted funds Restricted funds 267.000 2.117.162 362,371 2.210.360 TOTAL FUNDS 2,384,162 2.572.731 The finoncial statements were approved by the Board of Trustees ond authorised for i55ue on . ond were signed on it5 beholf by: Trustee The notes form port of these finonciol statements Strt*m•ntof An0 FwIyJD 31 Marth 2025 21
STATEMENT OF CASH FLOWS for the year ended 31 March 2025 Notes 2025 2024 Cosh flows from op•ratlng artlv5tS•s Cash gen¢ruted frc*m operations 130.146 947,932 Nèt cosh provid•d by op•rating a¢tiwti•s 130.146 947,932 Cash flows from bnv•stin9 artivitl•s Purchase of tangible fixed a55ets Intèrèst reeèived (259,666) 7.017 (670.247) 6.514 N•t cash u£•d in Inv•stlng Ortivitl•s (252.649) (663,733) Chong• Sn cash ond cash •qulval•nts ln th• rèportin9 p•rfod Cash ond cash •quiwJl•ftts rt th• b•9inning of th• reporting pviod 022.503) 284.199 1.302,n6 1,018,517 Cash ond cash equ1vats at the •nd of th• r•portlng p•riod 1.180.213 1.302.716 The notes form part of these finonciol stotements Stotementof c05h fknw5 Forth•>Yor•nd•d 31 Mar(h 25 22
NOTES TO THE STATEMENT OF CASH FLOWS for the year ended 31 March 2025 RECONCILIATION OF NET (EXPENDITURE)/INCOME TO NETCASH FLOWS FROM OPERATING ACTIVITIES 2025 2024 Nrt (exp•nditur•)fin¢om• for the r•porting p•riod (as p•r th• stst•m•nt of Frnonci•l Artiviti•s) Adjustm•nts for. Depreciation changes Interest received Decrease in debtors (Decreose)[Increose in creditors 88,569) 566,301 290,765 (7,017) 258,863 (6.514) 59.476 68.806 00.681) N•t cosh pro¥id•d by op•rotions 130.146 947.932 ANALYSIS OF CHANGES IN NET FUNDS At 114124 Cash flow At 13/25 N•tcash Cash at bonk 1302,n6 022.503) 1.180.213 1.302,n6 022.503) 1.180,213 Total 1,302,716 022,503) 1,180.213 The notes form part of these firHincial stotemer rth•>wr •nd•d 31 Mah 2025 23
NOTES TO THE FINANCIAL STATEMENTS for the year ended Sl March 2025 ACCOUNTING POUCIES Basis of preparing the financial stotements The financiol statements of the charitable compony. which is o public benefit entity under FRS 102, hove been prepared in accordance with the Charities SORP (FRS 102) 'Aecounting ond Reporting by Charities: Statement of Recommended Practice applicable to charities pParIng their occounts in occordonce with the Financiol Reporting Stondard applicable in the UK and Republic of Ireland (FRS 102) (effective l January 2019),. Finoncial Reporting Standard 102 'The Financial Reporting Standard opplicable in the UK and Republic of Irelond, and the Companies Act 2006. The financial stotements hove been prepared under the historical cost convention. Income All income is recogni5ed in the Stotement of Financiol Activities once the charity has entitlement to the funds, it is probable thot the income will be received and the amount con be measured reliably. Expenditvr• Liobilities are recognised os expenditure os soon as there is o legol or constructive obligotion committing the charity to that expenditure. it is probable that a tronsfer of economic benefits will be required in settlement and the omount of the obligation con be mea5vred reliobly. Expenditure is accounted for on an accruals basis and has been classified Under heodings that aggregote oll cost related to the category. Where costs cannot be directly ottributed to particulor headings they have been allocated to octivities on a basis consistent with the use of resources. Tongible fixed assets Depreciotion is provided at the following onnual rates in order to write off each osset over its estimated useful life. Freehold Property- 10% Straight Line Basis Short Leasehold - 10% Straight Line Bosis Fixtures & Fittings- I0% Reducing Bolonce Basis Taxation The charity is exempt from corporation tox on its choritable activities. Fund occovnting Unrestricted funds con be used in accordance with the charitoble objectives ot the discretion of the trustees. Restricted funds can only be used for porticular restricted purposes within the object5 of the chority. Restrictions arise when specified by the donor or when fund5 ore raised for porticulor restricted purp05es. Further explanotion of the notvre and purpose of each fund is included in the notes to the financial statements. P•nsion costs and other post-retirement ben•fits The choritoble company operotes a defined contribvtion pension scheme. Contributions payable to the charitable company's pension scheme are chorged to the Statement of Financial Activities in the period to which they relate. Forth• ar¥fid•d 31 Mtsrth 2015 24
NOTES TO THE FINANCIAL STATEMENTS - CONT for the year ended 31 March 2025 I INVESTMENT INCOME 2025 2024 Bonk Int•r•st 7.017 6,514 INCOME FROM CHARrrABLE ACTIVITIES 2025 2024 Oonotions Trusts & Foundotions Donation5 Individvals Donotions- In kirKI sponsorship Glovcestershire County Covncil Innox Foundation The Pnjdence Trust Warner Chappell Bernard Sunley Police and Crime Commissioner for Gloucestershire CAF Keystone Fund Chorles Hoyword Fovndation PRS Foundation Art5 Council En9lond Barnw¢)od Trust GSW Music Hub Youth Music Grants The Henry Smith Chorlty The Reta Lila Howard Foundation BBC Children in Need Gloucester County Council (of course we con) The Notgrove Tnjst The British Record Industry Trust Chimo Trust Garfield Weston F¢)vndation Wooden Spoon Austin & Hope Pilktngton Trust The Coln Twst St James's Place Choritoble Foundotion Thirty Percy The Comino Foundotion The Julia and Hans Rausing Trust Masonic Choritoble Foundation The Baity Thomas Choritoble Fur Donations Donations Donations Grants Grants Grants Gronts Grants Gronts Grants Grants Grants Grants Grants Gronts Grants Grants Grants Grants Gronts Gronts Gronts Grants Gronts Gronts Gronts Gronts Grants Grants Gronts Grants Gronts Grants 1,2SO 68.926 34 14,650 30.000 92.682 30.000 2S.000 27,376 16.000 101,089 13,662 15.336 10,000 24.504 20,000 11,000 86.500 103.071 212.683 so,000 20.000 20,000 11.000 131,000 32,124 260.S98 S9.666 20.000 20.000 32.500 5.000 10,000 5.000 30.000 30.000 5.000 5,000 4,000 45.000 18.000 7,500 30.000 30.000 100.000 10.000 20.000 25.000 8.000 10.000 25,000 Carried forword 1.050.806 1,023,600 continued... Not•5tothethe fin¢Jnci(d statrrri*nts Forth• •Dd•d 31 Mwrh 2025 25
NOTES TO THE FINANCIAL STATEMENTS - CONT for the year ended Sl March 2025 3. INCOME FROM CHARITABLE ACTivfiES- Continued 2025 2024 Brought forword The Karlsson Jotiva Charitable FourKlotion Esmée Fairboirn Fovndotion Gloucester City Council Droke Mvsic Ramarni Famity Foundation Metol For Good The Wiggin Chcritobl• Foundation National Express Foundation The Pied Piper Appeol The Free Hospital Trust The Cotswold Primrose charitab Trust Youth Investment Fund Foyle Foundotion Grants Gronts Grants Gronts Gronts Grants Grants Gmnts Grants Grar Gronts Grants Gronts 1,050.806 28,248 so.000 9.000 1,023,600 28.248 50,000 5,000 1,000 1,500 2,000 25,000 2.500 30,000 1,500 5,000 6,000 324.830 638.945 30.000 1.498.884 1.814.293 4. OTHER INCOME 2025 2024 Other iome 5. CHARITABLE ACTIVITIES COSTS Svpport ¢osts (s not• 6) Totols Charitable Activities Fundraising Costs Governonce Costs Other Day to Day Mngmt Costs 28,682 63.281 498.041 22.162 9,960 207,418 1.426.723 9,960 752.913 545.495 1.537.458 737,581 2.275.039 Fth*Y•f •nd•d 31 Morch 2025 26
NOTES TO THE FINANCIAL STATEMENTS - CONT for the year ended Sl March 2025 6. SUPPORT COSTS MaTh]gent Governonce costs Totals Choritable Activities Fundroisin9 Costs Governance Costs Other Day to Doy Mngmt Costs 498,041 21162 498,041 22.162 9,960 207.418 207.418 727.621 9.960 737.581 7. NET INCOME/(EXPENDITURE) Net income/(expenditure) is stated after char9ing/{cr•diting): 2025 2024 Avditor$' remunerotion Other non-audit senrices Depreciation- owned assets 8.400 1.500 290.765 7,200 1.320 258,864 8. TRUSTEES, REMUNERATION AND BENEFITS There were no trustees. MneratiOn or other benefits forthe yeor ended 31 Morch 2025 nor for the year ended 31 M¢Jrch 202 There were no trustees. expertse5 paid for th• y•or •Thled 31 March 2025 nor for the year ended 31 March 2024. 9. STAFF COSTS 2025 2024 Wages ond salories Sociol seeurity eosts Other pension costs 3.026 74.568 36.518 820.920 61099 31.484 1,104.112 914.503 The overage Month number of empbyees durin9 the yeor wos as follows: 2025 2024 Administration ond monagement 33 29 The number of employees whose employ•e benefits (ex¢ludiry employer pension costs) exceeded £60,000 wos: 2025 2024 £60.001-£70.000 Not•sto the the fin(wKI(d 5tatemtyits Fot th• •Dd•d 31 Mh 2025 27
NOTES TO THE FINANCIAL STATEMENTS - CONT for the year ended 31 March 2025 10. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES Unrestricted hJrx4s Restricted funds Totol funds INCOME AND ENDOWMENTS FROM Charitable Activities Donations Grants Investment income Other income 22.847 120,504 6,514 63.823 107.904 1.,038 130.751 1.683.S42 6,514 630.890 567.067 Totsl 213.688 2,238.009 2,451.697 EXPENDITURE ON Charttabl• ActiYiti•s Choritable Activities Fvndraising Costs Governonce Costs Other Day to Doy Mngmt Costs 93.970 61.003 8.520 .on 1.243,856 1.337.826 61,003 8,520 478,047 311.976 Total 329,564 1.555,832 1.885.396 NET INCOME /IEXPENDrruRE) Transf•r5 b•tw••n funds (115,876) 222.947 681177 (222.947) $66.301 Net movemént Sn fvnds 107.on 459.230 566,301 RECONCIUATION OF FUNDS Total funds brought forward 255.300 1,751,130 2.006.430 TOTAL FUNDS CARRIED FORWARD 362.3n 2.210.360 2,572.731 11. TANGIBLE FIXED ASSETS Sts)rt lèasehold firtures and fittin95 Motor v•hicl•s Tota15 cosr At 1 Aprli 2024 Addition5 1.661,983 131,994 529.945 127.672 46,986 2.238.814 259.666 At 31 March 2025 1.793.977 657.517 46,986 2.498.480 DEPRECIATION At 1 Aprll 2024 Chory• for y•ar 470,191 179398 408.467 99.620 35,241 11,747 913, 899 290,765 At 31 Morch 2025 649.589 508,087 1,204,664 Ngr BOOKVALUE At 31 March 202S 1.1144.388 149.430 (2) 1,293,816 At 31 March 2024 1,191.792 121.378 11.745 1,324,915 continued... Notststh•theflnwKhil stoterrients Forth y•or4nd•d Yl M¢ts 20 28
NOTES TO THE FINANCIAL STATEMENTS - CONT for the year ended 31 March 2025 12. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2025 2024 Trode debtors Other debtors Prepoyments 13.186 31,061 16.499 36,018 61.738 8,638 60.71 106.394 13. CREDITORS: AMouKfs FALUNG DUE WITHIN ONE YEAR 2025 2024 Trode ¢ditorS Social security ond oth•r tox•s Accwed expenses 35.160 72,262 5.938 83,094 115,453 150.613 161,294 14. MOVEMEPff IN FUNDS Net movement in funds Tronsfers beeen fvrKIs At 1/4/24 At 311312S Unrestrirted fvnds Unrestricted Fund 36un (259.095) 163,724 267.000 R•strlrt•d funds Restrirted Fvnd 2.210.360 70.526 (163.724) 2,117,162 TOTAL FUNDS 1572.731 (188.569) 1384.162 N•t movement in fvnds. included in thè obove are os follow% Incoming resources ResoL¥rces expended Movoment in fvnds Unrestri¢t•d fvnds Un$trIed Fund 714510 (373.605) (259,095) Rostrirted funds Restricted Fund 1.9n.960 0.901.434) 70,526 TOTAL FUNDS 1086.470 (2,275,039) V88.569) For th• y•or •nd•d 31 Mqrrh 2025 29
NOTES TO THE FINANCIAL STATEMENTS - CONT for the year ended Sl March 2025 1 MOVEMENT IN FUNDS- continued Cornporotiv•#for rntsv•t Sn funds Net movemènt in fvnds Transfèrs beten furK15 At 1/4124 At 3113r25 Unr•strfctsd fvnds Unrestritted Fund 255300 015.876) 222.947 361371 R•strfct•d funds Restrirted Fund 1,751.130 682.177 (222,947) 2.210,360 TOTAL FUNDS 2.006.430 566.301 2.572.731 Comptsrotivt Mt mov•m•nt in fvnds. inchjded in the above aré os follow IrKoming re50vrc•s R•sourc•s •xpended Movement in fund5 Unrestricted fvnds Ursrestricted Fund 213.688 (329.564) (115.876) Restricted funds Restricted Fund Z23&009 0555,832) 682.177 TOTAL FUNDS 2.451.607 (1.885,396) 566.301 A current yeor 12 months and prior 12 months combird positron is os folk Net movement in fvnds Tronsfers between funds At 114n4 At 31/3/25 Unr•rtrict•d funds Unrestricted Fund 255.300 (374.9n) 386h71 267,000 Restrt¢ted fvnds Restricted Fund 1.751.130 752,703 (386h71) 1117.162 TOTAL FUNDS 2,0¢)6.430 377,732 2,384.162 Not*stothe thefinonuol staterrtr Forth• y•or•nd•d 31 Mor¢h 1025 30
NOTES TO THE FINANCIAL STATEMENTS - CONT for the year ended Sl March 2025 14. MOVEMENT IN FUNDS- continued A curr•nt year 12 months and prior year 12 months combined net movement in fvnds, ncluded in the obove a os follovJ& Incomirrtj resources Resource expended Movement in funds Unrestricted Fvnd 328.198 (703.169) (374.971) R•rtrtct•d fund• Restricttd Fund 4.209.969 {3.457.266) 752,703 TOTAL FUNDS 4538.167 (4.160.435) 377,732 15. RELATED PARTY DISCLOSURES There were related party traractionS for the y8ar ended 31 Morch 2025. For th• y•gr•nd•d 31 Mor<h 2025 31
DETAILED STATEMENT OF FINANCIAL ACTIVITIES for the year ended 31 March 2025 2025 2024 INCOME AND ENDOWME5 Inwstm•nt income Bank Interest 7,017 6,514 ChorItob actlYltl•s Donations Trusts & Foundations Donations Individuals Donations- in kind sponsorshrp Glou¢estershtre County Council Innox Foundotion The Prudence Trust Warner Chappell 8ernord Sunley Police and Crime Commissioner for Gloucestsrshire CAF Keystone Fund Chorles Hoyword Fovndotion PRS Foundation Arts Council Én9lond 8ornwood Trust GSW Music Hub Youth Music The Henry Smith Chority The Reto Ltla Howard Foundation BBC Children in Need Glovcester County Council (of course we con) rhe Notgrove Trust The British Record lTrdurtry Trust The Chimo Trust Gorfield Weston Foundation Wooden Spoon Avstin & Hope Pilknn9ton Trvst The Coln Trust St James's Place Charitable Foundation Thirty Percy The Comino Foundation The Julia ond Hons Rousin9 Tnjst Mosonie Charitable Foundotion The Boily Thomas Charitable Fund The Karlsson Jotivo Charitable Foundation Esrnee Fairbairn Foundation Gloucester City Council Drake Mvsic Ramorni Forni Foundation Metal For Go¢)d The Wiggin Choritable Foundation Notionol Express Foundation The Pied Piper Appeal Corried forword 1.250 68,926 ,000 101.089 13,662 15,336 14.650 30.000 92.682 30,000 25.000 27.376 91.255 10.000 24,504 20,000 11,000 86.500 103.on 212.683 50,000 20,000 20.000 11,000 131.000 32.124 260,598 59,666 20.000 20.000 32,500 5,000 10.000 s.000 30.000 30.000 5,000 5.000 4,000 45.000 18,000 7,500 30,000 30,000 100.000 10.000 20,000 25,000 8,000 28.248 50,000 5.000 1,000 1,500 2,000 10.000 25.000 28.248 50,000 9,000 25.000 2,500 30,000 1.143.848 1.163.OS4 This page does not form port of the statLrtOryfirr1al statements [j•ttyd strt•m•ntof FinorKipl fDrtryqarendod 31 Morch 202S Th• (Ch•ry) 32
DETAILED STATEMENT OF FINANCIAL ACTIVITIES for the year ended 31 March 2025 2025 2024 Chorltablé artlvit Brought forward The Free Hospital trust The Cotswold Primrose Charitable Trust Youth Investment Fund Foyle Foundation 1.163.054 5,000 6,000 324.830 1.143.848 1.500 638.945 30,000 1,498,884 1,814,293 Oth•r Incorn• Fee$ Sales Sponsorship $565 23.248 800 418,839 211,051 1.000 S80. $69 630,890 Totol lrtcomln9 rnsourc 2.086.470 1451.697 EXPENDITURE Charitoblè ortivitles Wages and salaries Social Secvrity Pensions Insuroncè Staff Troining and DelOPm•nt Subcontroctors Depreciotion 993,026 74.568 36.518 6.531 47.731 88.319 290,765 820,920 62,099 31,484 5.797 35,759 258,863 1537.458 1214.922 Support costs- Managemtnt Mona9ement ond admin Fundraising Project delivery costs Publicity. comms & morketing Monitorin9 and evoluation Equipment renewals Subscription5 and mernberships 157,731 22,162 517,414 12,508 2,308 2.594 12.904 95,516 61,003 480.488 14,883 (5,433) 5,160 8.079 727.621 659.696 Informatlon t•chnology Repairs ond renewols 2,258 Support ¢o#s- Go¥emanc• costs Auditors, remuneration Auditors, remunerotion for rn oudit V40rk 8AIO 1,560 7,200 1,320 9.960 8.520 Total resources expended 1275.039 1,885.396 N•t (•xp•nditur•)fincom• 088.569) 566.301 This page does not form port of the stotutory firn¢101 stot•merrts D•talhd st¢7t•rn•ntof fiNJn¢iolwti ftsrth•y•tsi*nd•d 31 Mortb 2025 33
C•rwtyTtystrtition nymber. 0511534S rt9irtrgtM)n number.. 1106