| Contents | Page | |||
|---|---|---|---|---|
| Members ofthe Board and | professional | adwsors | ||
| Directors' report | ||||
| Independent examiners report to |
the | Directors | ||
| Statement of financial activities (incorporating |
||||
| the income and expenditure | account& | 12 | ||
| Conso Idated balance sheet | 13 | |||
| Company balance sheet |
14 | |||
| Statement of cash flows |
15 | |||
| Notes forming part ofthe financial |
statements | 16 |
| Directors | Directors | Michael SAbrahams | |||
|---|---|---|---|---|---|
| Stephen D Allen |
|||||
| Stephen L Barter |
|||||
| Alan D Gemes (Chair) | |||||
| Roger A Le Tissier | |||||
| Alison F Meek |
|||||
| Guy R Perricone |
|||||
| Pau D McCreesh |
|||||
| Louise M V Soden | |||||
| Susie York-Skinner | |||||
| General | Manager | Madeieine M. Cowell (resigned |
March | 13,2023) | |
| Replaced by Anna Winstone appointed |
Director of Roar | ||||
| Deceinber 2022. | |||||
| Main address | King Place Music Foundation, | Kings Place, 90York Way, | |||
| N1 9GE | |||||
| Registered office | Airport House, Pudey Way, Croydon, |
CRO OXZ | |||
| Company number |
05706385 | ||||
| Charity | number | 1114146 | |||
| Independent | examiners | Able g Young Ltd, Chartered | Certified | Accountants, | |
| Airport House. Purley Way. Croydon. | CRQ QXZ | ||||
| Bankers | ~oyds Bank Pic, | ||||
| 72 Fenrhurch Street, London |
EC3P 3EH |
| Unrestricted | Unrestricted | Restricted | |||||
|---|---|---|---|---|---|---|---|
| funds | funds | Total | Total | ||||
| Notes | 2023 | 2023 | 2023 | 2022 | |||
| income: | |||||||
| Ocnsticns and legacies |
6 | 121,824 | 236,771 | 358,595 | 411,902 | ||
| Income from chantable | acbvibss | ||||||
| Concerts and performances | 7 | 343,549 | 57,586 | 401,135 | 311,317 | ||
| Other trading acbvftles |
7,686 | 7,686 | |||||
| Investment income |
10 | 10 | |||||
| Total incoming resources |
473,059 | 294,357 | 767426 | 723,219 | |||
| Expenditure; | |||||||
| Costs of raising funds |
8 | 34,211 | 34211 | 32,139 | |||
| Chantable ac\Nitfes |
8 | 481,318 | 294,357 | 775675 | 685,976 | ||
| Total expenditure | 516,529 | 294,357 | 809886 | 718,115 | |||
| Net income/(expenditure) | and net | ||||||
| movement In funds for |
the year | (42,460) | (42,460) | 5 104 | |||
| Fund balances brought |
fonvaid | 58,739 | 58,739 | 53,635 | |||
| Fund balances cerned | forrvard | 16,279 | 16,279 | 58,739 |
| Notes | 2023 | 2022 | ||||
|---|---|---|---|---|---|---|
| Fixed senate | ||||||
| Tangible | assets | |||||
| Current assets | ||||||
| Debtors | 13 | 72,542 | 152,9f2 | |||
| Cash at bank and | in hand | 133,818 | 125508 | |||
| 206,360 | 278,420 | |||||
| Creditors: Amounts | falling due svithln one year | (190082) | (219,682) | |||
| Net current assets | 16,278 | 58,738 | ||||
| Total assets | tees current | lisbi!ities | 16,279 | 58,739 | ||
| Funda | ||||||
| IJnrestncted | funds | 16.279 | 58,739 |
| Notes | 2023 | 2022 | ||||
|---|---|---|---|---|---|---|
| Fixed assets | ||||||
| Tangible | assets | 11 | 1 | 1 | ||
| Investment | 12 | 100 | 100 | |||
| 101 | 101 | |||||
| Con ant assets | ||||||
| Debtors | 13 | 72,542 | 152,912 | |||
| Cash at bank and | in hand | 133,796 | 125486 | |||
| 206,338 | 278,396 | |||||
| Creditors: Amounts | falling due within one year | 14 | {190,929) | (220,529) | ||
| Net current assets | 15,409 | 57,869 | ||||
| Total assets | less current | liabilities | 15,510 | 57,970 | ||
| Funds | ||||||
| Unrestricted | funds | 15,510 | 57,970 |
| Group | Charity | Group | Cherity | ||||||
|---|---|---|---|---|---|---|---|---|---|
| Notes | 2023 | 2023 | 2022 | 2022 | |||||
| E | E | E | E | ||||||
| Cash provided | (used) in operating |
activi0«s | 15 | 8,310 | 8,310 | f136447 i | 1 | 136447t | |
| Change rn cash in the year |
and cash | equivalents | 8,310 | 8310 | 13644; i | f | |||
| Cash and cash | equivalents | brought | forward | 125,508 | 125486 | 261,955 | 261,933 | ||
| Cash and cash | equivalents | camted | forward | 133,818 | 133796 | 125,508 | 125,486 |
| 2023 | 2022 | |||||
|---|---|---|---|---|---|---|
| Incoming resources |
757,426 | 723,219 | ||||
| Expenditure | cn costs ofraising | funds | (34,211) | (32,139) | ||
| EXpenditure | cn charaable | ectwities | (775,675) | (685,976) | ||
| Net incommg | resources | (42,460) | 5, 'I 04 | |||
| Total funds | brought | forward | 58,739 | 53,635 | ||
| Total funds carried | forward | 16,279 | 58,739 | |||
| Represented | by | |||||
| Unrestricted | funds | 1B,279 | 58,739 |
| The make up ofincome an | d expendirure |
between unrestrict |
ed and restri |
cted Is as follows |
: |
|---|---|---|---|---|---|
| 2023 | 2023 | 2022 | 2022 | ||
| Unrestricted | Restricted | Unrestncted | Restncted | ||
| 5 | |||||
| Income: | |||||
| Donatlcns and legades |
121,824 | 23B,771 | 204,893 | 207,009 | |
| Income from cherrlable | activities | 343,549 | 57,586 | 311,317 | |
| Other trading activities |
7,686 | ||||
| investment income |
10 | ||||
| Total incoming resources |
473,069 | 294,357 | 516,210 | 207,009 | |
| Expend iture: | |||||
| Costs of raising funds | 34,211 | 32,139 | |||
| Charitable achvities |
481,318 | 294,357 | 478,967 | 207,009 | |
| Total expenditure | 515,529 | 294,357 | 511,106 | 207,009 | |
| Net income/(expenditure) | and net | ||||
| movement In funds forthe year |
(42,460) | 5,104 |
| Donations | and legacies | ||
|---|---|---|---|
| 2023 | 2022 | ||
| 8 | |||
| Donations | and gifts | ||
| Individuals | 109,065 | 100,550 | |
| Trusts | and foundations | 207,030 | 183,809 |
| Arts Council | 42,500 | 127,543 | |
| 358,595 | 4f1,902 |
| 2023 | ||||||||
|---|---|---|---|---|---|---|---|---|
| 0 | 6 | |||||||
| Concsrt income | 274,704 | 310,743 | ||||||
| OrNtsstra tar |
relief | 126,431 | ||||||
| Miscellaneous | mourne | 574 | ||||||
| 401,135 | 311,317 | |||||||
| alysis ofexpenditure | ||||||||
| Charitable | Fund | Tots I |
Total | |||||
| activity | raisbg | 2023 | 2022 | |||||
| 8 | ||||||||
| Artists' fess | 349,265 | 349,265 | 363,062 | |||||
| Performance | and production | costs | 220,335 | 1,495 | 221,830 | 154,385 | ||
| Salaries and | freelance | stafllng costs | 147,568 | 32,518 | 180,076 | 'l54,719 | ||
| Depreciation | ||||||||
| Independent | srsmmation | - | Governance | 1,100 | 1,100 | 1,100 | ||
| Bank interest | paid | 14 | 14 | 46 | ||||
| Other support | costs | 57,403 | 19B | 57,601 | 44,803 | |||
| 775,675 | 34,211 | 809,886 | 718,115 |
| 8 | Analysis ofexpe |
nditure(continued} | nditure(continued} | nditure(continued} | ||||
|---|---|---|---|---|---|---|---|---|
| The expsndrture | on the main chantable | acbvrhes | are as follows. | |||||
| 2023 | 2022 | |||||||
| Concerts and performances | 473,231 | 418,880 | ||||||
| Educational acbvrbes |
302,444 | 207,096 | ||||||
| 775,675 | 685,976 | |||||||
| 9 | Staff costs | |||||||
| Staff costs during | the | period were | as follows. | 2023 | 2022 | |||
| Salarres and wages | 108,622 | 103833 | ||||||
| Social security costs | 6,927 | 6,667 | ||||||
| Pension coats | 2.712 | '2,547 | ||||||
| 118,261 | 113047 | |||||||
| Freelance staff costs | 61,815 | 41 672 | ||||||
| 180,076 | 154,719 | |||||||
| The average number |
ofemployees | dunng the penod, analysed | by function was | |||||
| Number | Number | |||||||
| Direct charitable | expenditure | |||||||
| chref execubve | 1 | |||||||
| Others | 2 |
| 11 | Fixed assets | ||
|---|---|---|---|
| Furniture | 8 | ||
| equipment | |||
| Ccst | |||
| At 1 April 2022 | 4,884 | ||
| Additions | |||
| At 31 March 2023 | 4,884 | ||
| Oepreciation | |||
| Al 1 April 2022 | |||
| Charge for the period | |||
| At 31 March 2023 | |||
| I4et book value | |||
| At 31 March 2022 | |||
| At 31 March 2022 | |||
| 12 | Investments |
| 13 | Debtors | ||||||
|---|---|---|---|---|---|---|---|
| Group | Charity | Group | Charity | ||||
| 2023 E |
2023 | 2CI22 E |
2022f | ||||
| Trade debtors | 29,952 | 29,952 | 32,422 | 32,422 | |||
| Other debtors | 42,590 | 42,590 | 120,490 | 120,490 | |||
| 72,542 | 72,542 | 152,912 | '(52,912 | ||||
| 14 | Creditors: Amounts | falling | due within one year | ||||
| Group | Chanty | Group | Chanty | ||||
| 2023 | 2023 | 2022 | 2022 | ||||
| Trade creditors | 21,954 | 21,954 | 49,385 | 49,385 | |||
| Amount owed io subsidiary |
company | 847 | 847 | ||||
| Other creditors | 46,233 | 46,233 | 46, 'i 98 | 46,198 | |||
| Deferred income | 121,895 | 121,895 | 124,099 | 124,099 | |||
| 190,082 | 190,929 | 219,682 | 220,S29 |
| 15 | Reconciliation | of net | of net | movement | in funds to nel cash flow | from operating | activities | |
|---|---|---|---|---|---|---|---|---|
| Group | Charity | Group | Charity | |||||
| 2023 | 2023 | 2022 | 2022 | |||||
| E | f | 6 | ||||||
| Net movement | in funds | (42,460) | (42,460) | 5,104 | 5,104 | |||
| Add back depreciation | charge | |||||||
| Decrease (increase) | in | debtors | 80,370 | 80,370 | (136,525) | (136,525) | ||
| Increase (decrease) | m | credrtors | (29,600) | (29600) | (5,026) fr | (5,026) | ||
| 8,310 | 8,310 | (136,447) | (136,447) |