MUSIC FOUNDATION 'Ylfr CONSOLIDATED REPORT & FINANCIAL STATEMENTS t80fft ITllE ' EtX]OED 21]
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| Unrestricted | Restricted | Restricted | Totalfunds | Totalfunds | ||
|---|---|---|---|---|---|---|
| funds | funds | 2021 | 2020 | |||
| Notes | £ | £ | £ | £ | ||
| Income from: | ||||||
| Donationsand legacies | 3 | 683,514 | 683,514 | 788,228 | ||
| Charitableactivities | ||||||
| Operationofmusicvenue | 4 | 1,435,732 | 597,000 | 2,032,732 | 1,688,446 | |
| Othertrading activities | 5 | 231,548 | 231,548 | 2,738,276 | ||
| Total income | 2,350,794 | 597,000 | 2,947,794 | 5,214,950 | ||
| -- | ||||||
| Expenditure on: | ||||||
| Trading activities | 6 | 266,459 | 266,459 | 1,289,663 | ||
| Charitableactivities | 7 | 2,239,835 | 597,000 | 2,836,835 | 3,809,133 | |
| Total expenditure | 2,506,294 | 597,000 | 3,103,294 | 5,098,796 | ||
| Net movement in funds | (155,500) | (155,500) | 116,154 | |||
| Totalfundsbroughtforward | 273,221 | 273,221 | 157,067 | |||
| Total funds carried forward | 117,721 | 117,721 | 273,221 |
| 2021 | 2020 | ||||
|---|---|---|---|---|---|
| Notes | £ | £ | £ | £ | |
| Fixed assets | |||||
| Intangibleassets | 12 | 38,818 | 53,308 | ||
| Tangibleassets | 13 | 410,415 | 498,097 | ||
| -- | |||||
| 449,233 | 551,405 | ||||
| Currentassets | |||||
| Debtors | 15 | 390146 | 426,737 | ||
| Cash at bankandinhand | 169,661 | 185,588 | |||
| 559,807 | 612,325 | ||||
| Credit ors: amount s falling due within | 16 | ||||
| oneyear | (891,319) | (890,509) | |||
| Netcurrentliabilities | (331,512) | (278,184) | |||
| --- | |||||
| Total assets less currentliabilities | 117,721 | 273,221 | |||
| -- | |||||
| Income funds | |||||
| Unrestrictedfunds | 19 | 117,721 | 273,221 | ||
| -- | |||||
| 117,721 | 273,221 |
| 2021 | 2020 | |
|---|---|---|
| £ | £ | |
| Donationsand gifts | 683,514 | 788,228 |
| All incomefromcharitableactivitieswasunrestricted inboth2021and2020. |
| 2021 | 2020 | |
|---|---|---|
| £ | £ | |
| Operationofmusicvenue | ||
| Ticketsales | 343,747 | 1,591,245 |
| Otherprogrammerelatedincome | 52,890 | 97,201 |
| Governmentgrant income | 1,039,095 | |
| Culturalrecoveryfund | 562,000 | |
| Othergrant income | 35,000 | |
| 2,032,732 | 1,688,446 | |
| Aralysisbyfund | ||
| Urrestrictedfunds | 1,435,732 | |
| Restrictedfunds | 597,000 | |
| 2,032,732 | ||
| Forthe year ended 31 March 2020 | ||
| Unrestrictedfunds | 1,688,446 |
| 2021 | 2020 | |
|---|---|---|
| £ | £ | |
| Commission | (4,534) | 579,888 |
| Property | 25,918 | 120,612 |
| People | 14,424 | 358,876 |
| Supportcost(seenote8) | 230,651 | 230,287 |
| --- | ||
| Othertradingactivities | 266,459 | 1,289,663 |
| Allexpenditurewasunrestricted inboth2021 and2020. | ||
| 7. Charitable activities |
| 7. Charitable activities | ||
|---|---|---|
| 2021 | 2020 | |
| £ | £ | |
| People | 1,919,202 | 1,757,884 |
| Artists | 226,962 | 1,058,097 |
| Marketing | 120,208 | 310,812 |
| --- | ||
| 2,266,372 | 3,126,793 | |
| Shareof supportcosts(seenote8) | 561,463 | 675,190 |
| Share ofgovernance costs(seenote8) | 9,000 | 7,150 |
| --- | ||
| Othertradingactivities | 2,836,835 | 3,809,133 |
| £597,000ofexpenditurewasrestricted intheyear(2020.£0) |
| 2021 | 2020 | |
|---|---|---|
| £ | £ | |
| Deskincome | 85,756 | 188,355 |
| Event income | 75,165 | 2,392,856 |
| Rcomhire | 68,289 | 148,621 |
| Otherincome | 2,338 | 8,444 |
| -- | ||
| Othertradingactivities | 231,548 | 2,738,276 |
| 8. Supportcost | |||||
|---|---|---|---|---|---|
| Support | Governance | Basisof | |||
| cost | cost | 2021 |
2020 |
allocation | |
| £ | £ | £ | £ | ||
| Property | 722.,350 | 722,350 | 819,848 | Direct | |
| Finance/Professional | 60,310 | 60,310 | 83,964 | Direct | |
| Governance | 18,454 | 18,454 | 8,815 | Governance | |
| -- | --- | ||||
| 782.660 | 18,454 | 801,114 | 912,627 | ||
| --- | |||||
| Analysed between | |||||
| Trading | 221197 | 9,454 | 230,651 | 230,287 | |
| Charitableactivities | 561,463 | 9,000 | 570,463 | 682,340 | |
| -- | |||||
| 782660 | 18,454 | 801,114 | 92,627 | ||
| -- | --- |
| Number of employees | Number of employees | |||
|---|---|---|---|---|
| Theaveragemonthlynumberemployeesduringtheyearwas: | ||||
| 2021 | 2020 |
2021 |
2020 |
|
| FTE | FTE | Number | Number | |
| Permanentstaff | 27 | 33 | 26 | 33 |
| Casualstaff | 3 | 32 | 22 | 102 |
| - | ||||
| Othertradingactivities | 30 | 65 | 48 | 135 |
| -- | ||||
| Employmentcosts | 2021 |
2020 |
||
| FTE | FTE | |||
| Wages andsalaries | 1,760,234 | 1,960,325 | ||
| Socialsecuritycosts | 115,599 | 131,335 | ||
| Otherpensioncosts | 24,330 | 25,100 | ||
| Redundancycosts | 45111 | |||
| --- | ||||
| 1,978,737 | 2,116,760 | |||
| Thenumberofemployeeswhoseannual remunerationwas£60,000 | or 'TlOre | were: | ||
2021 |
2020 |
|||
| Number | Number | |||
| £70,000-£80,000 | ||||
| £80,000-£90,000 |
| £80,000-£90,000 | ||||
|---|---|---|---|---|
2021 |
2020 |
|||
| £ | £ | |||
| Netmovementin fundsis statedafterchargng Fees payabletothegroup's auditorfortheauditofthecompany's |
Total pensioncostspaidonbehalfof theaboveemployeeswere£2,626 12020:£1,316). Lr |
|||
| financialstatements Feespayabletothegroup's auditorfortaxcompliance Feespayabletothegroup'sauditorforaccountancy Depreciationofowned tangiblefixedassets Amortisationof intangibleassets |
12,750 1,375 3,900 90,260 14,490 |
11100 1,300 3,750 109,929 9,576 |
Thetrustee'sreceivednoremuneration duringtheyear(2020:£nil) and no trusteereceivedpaymentforprofessional orother servicessuppliedtothecharity (2020:£nil). |
KeyManagementPerson Thekeymanagementof comprise ofthose listedo administraticoninformatio Totalemployeebenefitso |
| Operatingleasecharges | 11,144 | 14,774 | No exenseswerereimbursedtothe | managementpersomelf |
| azz71 | a | ||
|---|---|---|---|
| Website | |||
| Groupandcharity | Software | development | Total |
| £ | £ | £ | |
| Cost | |||
| At 1April2020 and 31March 2021 | 24,571 | 47,889 | 72,460 |
| Amortisation and impairment | |||
| At 1April2020 | 19,152 | 19,152 | |
| Amortisationchargedfortheyear | 4,914 | 9,576 | 14,490 |
| _At_31March 2021 | 4,914 | 28,728 | 33,642 |
| Carrying amount | |||
| At31March 2021 | 19,657 | 19161 | 38,818 |
| _A_31March 2020 | 24,571 | 28,737 | 53,308 |
| - |
| **NOTES TO ** | THE FINANCIAL STATEMENTS | THE FINANCIAL STATEMENTS | THE FINANCIAL STATEMENTS | THE FINANCIAL STATEMENTS | |
|---|---|---|---|---|---|
| Re131IIVIERII[D230 7719IE383220%20 | continued | ||||
| ETTI"7" | I | ||||
| Groupandcharity | Leasehold | Office furniture | Computer | Performance | Total |
| property | andequipmen t | equipment | equipment | ||
| improvments£ | £ | £ | £ | £ | |
| Cost | |||||
| At1April 2020 | 123,786 | 145,567 | 145169 | 915,975 | 1,330,497 |
| Additions | 2,578 | 2,578 | |||
| Disposals | (16,518) | (32,474) | (48,992) | ||
| At 31March 2021 | 123,786 | 145,567 | 128,651 | 886,079 | 1,284,083 |
| Depreciation&impairment | |||||
| At 1April2020 | 37,654 | 125,369 | 82,514 | 586,863 | 832,400 |
| Depreciation charged | |||||
| in theyear | 12,179 | 10,788 | 11,406 | 55,887 | 90,260 |
| Eliminatedin respect | |||||
| ofdisposals | (16,518) | (32,474) | (48,992) | ||
| At 31March 2021 | 49,833 | 136,157 | 77,402 | 610,276 | 873,668 |
| Car rying amount | |||||
| At 31March 2021 | 73,953 | 9,410 | 51,249 | 275,803 | 410,415 |
| --- | |||||
| At 31March 2020 | 86,132 | 20,198 | 62,655 | 329,112 | 498,097 |
| --- |
| Theaggregateoftheassets, liabilitiesandundswas: | ||
|---|---|---|
2021 |
2020 |
|
| Currentassets | 100,372 | 925,796 |
| Current liabilities | (216,914) | (92,994) |
| --- | ||
| Total net assets | (116,542) --- |
832,802 |
| Thefinancialactivitieswereasfollows: | 2021 |
2020 |
| Turnover | 342,428 | 2,849,156 |
| Costofsales andadministrationexpenses | (458,980) --- |
(1,496,364) |
| Result fortheyear | (116,552) | 1,352,792 |
Group |
Charity | |||
|---|---|---|---|---|
2021 |
2020 |
2021 |
2020 |
|
| Amountsfalling due within one year: | £ | £ | £ | £ |
| Tradedebtors Amountsduefromgroupundertakings Otherdebtors Prepaymentsandaccrued Income |
150,571 239,575 |
231,272 4,936 190,529 - |
106,200 72,096 194,239 |
57,290 4,936 161,598 --- |
| 390,146 | 426,737 | 372,535 | 223,824 |
Group |
Charity | ||||
|---|---|---|---|---|---|
2021 |
2020 |
2021 |
2020 |
||
| Notes | £ | £ | £ | £ | |
| Tradecreditors | 338,507 | 354,329 | 241,702 | 316,710 | |
| Amountsdueto | 703,125 | ||||
| fellowgroupundertakings | |||||
| Othertaxation& social security | 59,994 | 77,988 | 59,994 | 79,019 | |
| Othercreditors | 137138 | 68,846 | 137126 | 68,833 | |
| Accruals | 143,368 | 152,353 | 116,288 | 103,599 | |
| Deferredincome | 17 | 212,312 | 236,993 | 191,391 | 230,372 |
| -- | --- | ||||
| 891,319 | 890,509 | 746,501 | 1,501,658 | ||
| --- |
| ATITA | ||||
|---|---|---|---|---|
Group |
Charity | |||
2021 |
2020 |
2021 |
2020 |
|
| £ | £ | £ | £ | |
| Balanceat1April | 236,993 | 244,194 | 230,372 | 232,150 |
| Amountsreleasedtoincomingresources | (228,614) | '244,194) | (221,993) | (232,150) |
| Amountsdeferred intheyear | 203,933 | 236,993 | 204,745 | 230,372 |
| Balanceat31March |
212,312 |
236,993 |
191,391 |
230,372 |
| Fortheyearended31 March | 2021 | ||||
|---|---|---|---|---|---|
| Group | Balanceat | Movement in funds | Balance at | ||
| 1April 2020 | Income | Expenditure | Transfers | 31March 2021 | |
| £ | £ | £ | £ | £ | |
| General funds | |||||
| Generalfunds | 273,221 | 2,350,794 | (2,506,294) | 117,721 | |
| 273,221 | 2,350,794 | (2,506,294) | 117,721 | ||
| Restric tedfunds | |||||
| CultureRecoveryFund | 562,000 | (562,000) | |||
| ArtsCouncil England | 35,000 | (35,000) | |||
| 597,000 | (597,000) | ||||
| Totalfunds | 273,221 | 2,947,794 | (3,103,294) | 117,721 | |
| Company | Balance at | Movement in funds | Balance at | ||
| 1April 2020 | Income | Expenditure | Transfers | 31March 2021 | |
| £ | £ | £ | £ | £ | |
| Generalfunds | |||||
| Generalfunds | (559,571) | 3,116,486 | (2,322,642) | 234,273 | |
| (559,571) | 3,116,486 | (2,322,642) | 234,273 | ||
| Restricted funds | |||||
| CultureRecoveryFund | 562,000 | (562,000) | |||
| ArtsCouncilEngland | 35,000 | (35,000) | |||
| 597,000 | (597,000) | ||||
| Totalfunds | (559,571) | 3,713,486 | (2,916,642) | 234,273 | |
| - | |||||
| Fortheyearended31 March | 2020 | ||||
| Group | Balance at | Movement in funds | Balanceat | ||
| 1April 2019 | Income | Expenditure | 31March 2020 | ||
| £ | £ | £ | £ | ||
| Generalfunds | |||||
| Generalfunds | 157,067 | 5,214,950 | (5,098,796) | 273,221 | |
| --- | |||||
| 157,067 | 5,214,950 | (5,098,796) | 273,221 | ||
| --- | |||||
| Totalfunds | 157,067 | 5,214,950 | (5,098,796) | 273,221 |
| Fortheyearended31March2021: | |||
|---|---|---|---|
| General | Restricted | ||
| Funds | Funds | Total | |
| Group | £ | £ | £ |
| Intangiblefixedassets | 38,818 | 38,818 | |
| Tangiblefixedassets | 410,415 | 410,415 | |
| Netcurrentliabilities | (331,512) | (331,512) | |
| 117,721 | 117,721 | ||
| General | Restricted | ||
| Funds | Funds | Total | |
| Charity | £ | £ | £ |
| Intangiblefixedassets | 38,818 | 38,818 | |
| Tangiblefixedassets | 410,425 | 410,425 | |
| Netcurrentliabilities | (214,970) | (214,970) | |
| 234,273 | 234,273 | ||
| Fortheyearended31March 2020: | |||
| General | Restricted | ||
| Funds | Funds | Total | |
| Group | £ | £ | £ |
| Intangiblefixedassets | 53,308 | 53,308 | |
| Tangiblefixedassets | 498,097 | 498,097 | |
| Netcurrentliabilities | (278,184) | (278,184) | |
| 273,221 | 273,221 | ||
| General | Restricted | ||
| Funds | Funds | Total | |
| Charity | £ | £ | £ |
| Intangiblefixedassets | 53,308 | 53,308 | |
| Tangiblefixedassets | 498,107 | 498,107 | |
| Netcurrentliabilities | (1,110,986) | (1,110,986) | |
| (559,571) | (559,571) |
| Thecharityasalessee: | Thecharityasalessee: | |
|---|---|---|
| Thetotalfutureminimumleasepaymentsundernon-cancellable operatingleasesaresetoutbelow: | ||
| 2021 | 2020 | |
| £ | £ | |
| Withinoneyear | 11144 | 11,411 |
| Betweenoneand fiveyears | 29,099 | 40,243 |
| 40,243 | 51,654 |
| Income | Expenditure | |||
|---|---|---|---|---|
| 2021 | 2020 | 2021 | 2020 | |
| £ | £ | £ | £ | |
| Green&FortuneLimited | 113,823 | 1,925,853 | 26,684 | 41,385 |
| ParabolaEdinburghLimited | 30,000 | |||
| Pangolin | 1,224 | 5,839 | 1,600 | |
| ParabolaFoundation | 545,000 | 765,000 | ||
| ParabolaRealEstateInvestment | ||||
| ManagementLLP | 2,001 | 5,406 | ||
| 692,048 | 2,702,098 | 26,684 | 42,985 |
| Thefollowingamountswereoutstandingatthereporting enddale: | **Amountsowed to ** | relatedparties |
|---|---|---|
| 2021 | 2020 | |
| £ | £ | |
| Green&FortuneLimited | 123,997 | 45,424 |
| Pangolin | 950 | |
| -- | ||
| 123,997 | 46,374 | |
| Thefollowingamountswereoutstandingalthereporting enddale: | **Amountsowed by ** | relatedparties |
| 2021 | 2020 | |
£ |
£ |
|
| Green&FortuneLimited | 124,597 | 185,874 |
| Pangolin | 7,411 | |
| 132,008 | 185,874 |
| Thecharityisacharitylimitedbyguarantee | respectoftheguaranteeislimitedto£1per | respectoftheguaranteeislimitedto£1per | respectoftheguaranteeislimitedto£1per |
|---|---|---|---|
| andhasnosharecapital.Inthe eventof | memberofthecharity. | ||
| thecharitybeingwound up,the liabilityin | |||
| E hit E3T"%I7 |
l | ||
| 2021 | 2020 | ||
| £ | £ | ||
| (Defcit)/surpusfortheyear | (155,500) | 116.154 | |
| Adjustmertsfor. | |||
| Amortisation and impairmentof intangibleassets | 14,490 | 9,576 | |
| Depreciation andimpairmentoftangiblefixedassets | 90,260 | 109,929 | |
| Movementsinworkingcapital: | |||
| (Increase)indebtors | (36,591) | (5,344) | |
| Increase/(decrease)increditors | 3,758 | (39,234) | |
| (Decrease)indeferredincome | (2,948) | (7,201) | |
| -- | |||
| Cash (absorbed by)/generated from operations | (13,349) | 183,880 | |
| EFT7TE777777 | |||
| 1April 2020 | Cash flows | 31March2021 | |
| £ | £ | £ | |
| CashatbankandIn hand | 185,588 | (15,927) | 169,661 |
| 185,588 | (15,927) | 169,661 | |
| egge | |||
| Thecharityisexemptfromtaxonincome | TaxationofChargeableGains | Act1992 | |
| and gainsfallingwithinSection505of | totheextentthattheseareappliedtoits | ||
| theTaxesAct1988or Section 252 ofthe | charitableobjects. |