REGISTERED COMPANY NUMBER: 05718491 (England and Wales) REGISTERED CHARITY NUMBER: 115890
Report of the Trustees and
Unaudited Financial Statements for the Year Ended 31st March 2021
for
Gael Music
Ken Tait & Co 16 Haddow St Hamilton ML3 7HX
Gael Music
Contents of the Financial Statements for the Year Ended 31st March 2021
| Page | |||
|---|---|---|---|
| Report of the Trustees | 1 | to | 4 |
| Independent Examiner's Report | 5 | ||
| Statement of Financial Activities | 6 | ||
| Balance Sheet | 7 | ||
| Notes to the Financial Statements | 8 | to | 14 |
| Detailed Statement of Financial Activities | 15 |
Gael Music
Report of the Trustees for the Year Ended 31st March 2021
The trustees are pleased to present their annual directors' report together with the financial statements of the charity for the year ending 31st March 2021 which are also prepared to meet the requirements for a directors' report and accounts for Companies Act purposes.
The financial statements comply with the Charities Act 2011, the Companies Act 2006, the Memorandum and Articles of Association, and Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).
OBJECTIVES AND ACTIVITIES
Charitable Purposes
To advance education, understanding and appreciation of traditional music among people of all ages but particularly the young by:
" Providing and organizing workshops, classes, sessions, courses, academies, schools, literature and other such educational activities
" Presenting, producing, promoting, organising, managing and conducting events, tours or other activities
" Other such means as from time to time may be determined at the trustee's discretion
Charitable Activities
We've recently had contact with Summerlee Scottish National Industrial Museum, who were assigned to us as a partner with regards to our involvement in a digital confidence scheme. Summerlee helped us develop a business plan for 2022/23. Whilst the heritage curator from Culture NL's Heritage centre in Motherwell also helped us identify new archive sources that link local stories, music and industrial heritage as a basis for some new youth-led research.
As a means of explicitly building upon this work and our digital confidence as an organisation we have set up a new partnership with New College Lanarkshire to help us create animated 3D models of iron smelting equipment from the original 19th century technical drawings that will form the backdrop for some folk story/music online content and also double as our 2022/23 learning materials for local schools.
Taster, first access, research, workshop and ensemble sessions involving 72 children from our folk academy projects in West Dunbartoinshire and South Borders were delivered via zoom whilst also creating new online content and heritage based learning materials that will continue to benefit local schools going forward.
Public benefit
In planning the activities for the year we kept in mind the Charity Commissions' guidance on public benefit.
Page 1
Gael Music
Report of the Trustees for the Year Ended 31st March 2021
ACHIEVEMENT AND PERFORMANCE Internal and external factors
Covid-19
In the middle of the March 2020 year we were forced to suspend all our folk academy projects serving 120 children and young people aged 9-16 from disadvantaged communities across Scotland. In doing so, we left these children without weekly support and learning activities upon which they and their families have come to rely. Furthermore, our youth-led steering group, comprised of 8 project trainees, former participants and local volunteers was also unable to meet and risked losing their ability to shape delivery at a time when it was needed most. Sixteen young person led performances involving young people and over 65s were cancelled by arts/heritage venues and festivals with a loss of income to the organisation of £20,000. As key staff were furloughed from our local authority partners, key to our outreach sessions in local community centres, they became very difficult to contact. As an immediate response, we paused the delivery of activities, venue hire, transport partnerships and volunteer support, all of which was very challenging and risked winding back years of work with vulnerable communities and participating young people.
At this time however, we had a number of online resources and tools such as our mobile app and online tune archive that were used as supporting strands to our traditional face to face delivery method. Repurposing these from support strands into our central mode of delivery has posed a significant logistical and financial challenge, at a time when our capacity to mobilise staff and resources has been severely constrained. Removing (in the medium to long term), the support from our weekly grassroots activities was simply not an option beyond 3 to 4 weeks and we're still managing this transition. Throughout this challenge however, we're learning a great deal and developing digital skills amongst our staff whilst continuing to listen to the 0-5% SIMD communities involved in a way that makes it unlikely we'll return to our former approach.
FINANCIAL REVIEW
Financial position
During the year under review, the net gain of the charity was £12,473
Reserves policy
In accordance with our 2022/23 business plan, Gael Music ensures long-term financial sustainability by maintaining a minimum reserve. Our current target range is £15,000 - equivalent to 6 months running costs. This policy relies on assessing medium-term financial risk and as such is kept under periodic review by our board of trustees when levels are adjusted as perceptions of risk and other factors change.
Going concern
In response to the difficulties facing the organisation in recent times and our long term sustainability we have implemented a number of plans. These plans include more regular evaluation sessions to monitor progress and best respond to participants needs. We have increased our reserves policy to a higher level in order to cover 6 months running costs Tight budgetary procedures will be enforced at every stage to ensure the activities are financially effective, compliant with all relevant legislation and manage any financial risks whilst we're building reserves. All new funding will be used effectively and deliver the greatest possible benefit to participants through effective project planning, professional marketing and a timetables which clearly set out the roles and responsibilities of our staff, trainees and volunteers.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.
The Association is established as a company limited by guarantee and is registered as a charity with the Charity Commission on 22nd February 2006. The liability of the members in the event of the Association being wound up is limited to a sum not exceeding £0.25.
Charity constitution
Gael Music was incorporated as a company limited by guarantee on the 22 February 2006 and is governed by its Memorandum and Articles of Association. The charity is run by its management committee which consists of four officers and an elected number of members as decided at the Annual General Meeting of the charity.
Page 2
Gael Music
Report of the Trustees for the Year Ended 31st March 2021
STRUCTURE, GOVERNANCE AND MANAGEMENT
Recruitment and appointment of trustees
The trustees, who are also company directors, are appointed annually by the members of the company at the Annual General Meeting. New trustees may be appointed by the existing trustees, subject to a maximum of six.
Our board of trustees has a range of expertise among its governors who are responsible for a variety of tasks.
Colin Jones (Chair) is a former chair of Hamilton Scouts and youth band leader at the Salvation Army Core in Hamilton. His communication and creativity are essential to the organization in addition to his understanding of business management and leadership skills.
Linda Henneghan (Treasurer) is a retired headteacher and Irish dance instructor. From her time in education she brings an ability to analyze and review different types of data and for us, having somebody with a good grasp of statistics is also vital. She examines how funding is spent whilst scrutinizing the progress of our beneficiaries.
Mary Anne Smith (Trustee) is a South Lanarkshire Councillor has over 20 years worth of experience in planning and delivering educational projects via a cross cut approach involving public sector bodies and local service providers. She is able to sift through hefty policy reports and pick apart data to communicate with parents.
Organisational structure
Trustees are encouraged to attend appropriate external training events to support the role they are performing. Gael Music is a registered charity and is set up as a company limited by guarantee. The Artistic Director is responsible for developing the various programs of the organization including work in schools and sustaining and developing our links with other arts and education sector groups. The Artistic Director is also responsible, in consultation and with the guidance of The Board of Trustees for the formulation of artistic policy, devising the overall programme of work for the organization, devising and commissioning of projects and the recruitment and management of all freelance staff. The Artistic Director is also responsible to the Board of Trustees.
Decision making
The trustees are already familiar with the practical work of the Charity but all new trustees undergo an orientation course to brief them on the legal obligations under the charity and company laws and the content of the Memorandum and Articles of Association of the charity
Induction and training of new trustees
The trustees are already familiar with the practical work of the Charity but all new trustees undergo an orientation course to brief them on the legal obligations under the charity and company laws and the content of the Memorandum and Articles of Association of the charity
Related parties
2020/21 was an exceptionally busy year in which Mr. Luke Daniels managed and helped deliver multiple educational and performance projects as frontline tutor, composer and musical director. For this service Mr. Luke Daniels was paid £6,000 for these activities.
Risk Assessment
The trustees actively review the major risks associated with the activities of the charity on a regular basis and believe that maintaining reserves at current levels, combined with an annual review of key financial controls, will provide sufficient resources in the event of adverse conditions.
REFERENCE AND ADMINISTRATIVE DETAILS
Registered Company number
05718491 (England and Wales)
Registered Charity number
115890
Page 3
Cvael Music Rei)ort (Jf the Trustees for the Year Tr-nded 31st March 2021 Regiltered 7¢e 31 8i)IitlictTrlL" l.dllL R¥ddiiig RG.10 .3AG Trugtces Ms M A Smith R¥iii¢d C .l()n¢8 R¥iifLd M5 L l.Ict]Lghun RLtITLd llcddtLdcIIci C'umi)#ny Secretary I. Ddnicls Independent Examiner K¢n Tdit & Co 16 llciddow Si I Idmilton MLI 711X Regi51ered Lhariiy Nuiiibtr R¢bTisl¢r¢d cli]tY Nu11¥r 115890 (Eiiglliiid & Wdles} SC044156 (sLotId} viiii Apprc)v¢d by ordeT bo of trust¢es on.............. dnd signed on its bekmlf by.. l)dnicls - ScLretdry Pdg¥ 4
Independent Examiner'% Reiinrt tn the Trustees of Gael Mu4iC Independent examiner's report to the trustees of Gael Music I'the Company.) I report to thc ch1( rity trustccs on my cxaminarioii of thc accounts of tlic Company for the ycar cTrlcd_3 I st March 21121. ResiiDn$ihilities and basis of repnrt As Ilie clidriiy's irusiees of Ihe Coiiipany land also its direciors for tlie purposes ofcoiiipaiiy law) yoii are responsible for i] preparaiion of ttie accouiiis iii acCordde will) Ilie reqLiireEI)enis of the Coiiip31)ies Aci 20061'ihe 2006 Aci,). Ii'ingT Sciiisfied My5eifiliai Ihe dccounis of the CoMpY are noi reqiiired 10 be audiled under Part 16 of the 2006 Aci d are ¢libiibl¢ lor itidepelldelll ¢)1U0 I repon ill resp1 ofJ)iy exajllinauoll of your ¢lLUlly's a¢coulliS as ¢I¢d oui und¢r *¢uoii 145 of th¢ Cliarillcs Aci 2011 I'dle ?01 l A¢i'i. In carryiiig oui Jny ¢ll0 I liaN'¢ followed the Diicction5 givci) by Ihc Charity CoTThlli55iOlI undci scclion 145{51 Ib) of ihc 2VI l Act. Indei)endenl examiner'% ¥latement I lidve conwleied my exdnisiialion. I confinn thai no mdiiers haire com¢ to Iny diieniion in connecikon with th¢ examinaiioii giviDg Ine cause 10 believe.. accounting records wcre noi kcpi in rcspcct of the CoD]pally as required by stIOn 386 of the 21x16 Aci- or tb¢ accoimts dts not u¢¢ord th thos¢ r¢¢oids,' or tbc accowiis do not comply Mith thc ac¢oithting rcqillrcments of section 11)6 of the 2006 Aet other thttn any rcquircinciit thal thc accow)ts giN'c ITU¢ aiid fair view wliicl) is not a matlcr coi)sidcred as part of an independeiii exainii)c1lion; or the 3¢counls hai'c iiot b¢¢ii pr¢pai in jiccordilllf¢ Wltli th¢ Iii¢ihods and piin¢ipl¢s of th¢ Stlll¢n)¢nl or Recoiiuneiided PrAciice for accowitii)g aiid reporting by clurilies (applicdble lo chdrities PTepariDb Ilieir accounts In accorde MTrth Ilie FIli(la1 Reporting Sidnddrd dpplicdble in the UK Rq)ubli¢ of Ire]d (FRS 1021). I hav¢ no conc¢rng and have com¢ a¢ross tto otb¢r nlltters in ¢0c¢tiOn with th¢ ¢xaminotion to h]Ch att¢ntion should bc dramu in thi5 rcport in OTdcr to cnablc a propcrw)dcrslanding of thc accounts to bc rcachcd. Kcn Tail Chanered A¢countani Keji Tdii & Co 16 Hddthw Si H]1]11011 ML.3 7HX Dat¢.. o.111.!/.w....................... Pdgc 5
Gael Music
Statement of Financial Activities for the Year Ended 31st March 2021
| Unrestricted fund Notes £ INCOME AND ENDOWMENTS FROM Donations and legacies 2 10,000 EXPENDITURE ON Charitable activities 3 Resourced Expenditure - Admin Expenses 11,042 Total 11,042 NET INCOME/(EXPENDITURE) (1,042) RECONCILIATION OF FUNDS Total funds brought forward 22,659 TOTAL FUNDS CARRIED FORWARD 21,617 |
Restricted fund £ 29,697 14,238 1,944 16,182 13,515 4,776 18,291 |
2021 Total funds £ 39,697 14,238 12,986 27,224 12,473 27,435 39,908 |
2020 Total funds £ 106,568 80,614 30,866 111,480 (4,912) 32,347 27,435 |
|---|---|---|---|
The notes form part of these financial statements
Page 6
G¥el Mw4ic Balance Sheet 31st [r{h 2021 2021 2020 Total fulld Unre4tricl¢ fu R¢stri¢led fund fund5 NotLs FIXED ASSETS Tangibl¢ asscts 16.C)13 4,180 24.500 cURRETr ASSETS Cash al bdt 8,621 l4.111 22,734 6,719 CREDITORS Amowtss tsiling due th]ll on¢ year {3.6191 13,619} (3,7841 NET CURRENT ASSETS 5.UIM 2.1)_35 TOT AL ASSETS LESS CURRENT LIABILITIES 21,617 18,291 27,4.35 Tr4ET ASSETS 21,617 18.291 -39.908 27.4.15 FUNDS Unrcsirictcd funds Rcsiricicd fuiids 10 21.617 4.776 TOT AL FUNDS 19.908 27.415 The chkriiable company is eniiiled io exempiion from audil under Seciion 477 of the Companies Aci 20(Tr for the year ended I Isi March ?021. The menibers haiTe nol reqiiireil Ilie comTYdllV lo obtain &n Audit of its financial stdleTnents for Ihe yedT ended -Ilsi Mkr¢h 2021 in accordwice witti Seciion 476 of tbe Coiiipanies Aci 2(KJ6. The trustees dcknowledge ibeir iesponsibiliiies for {al ]suring Il)ai Ilic chaTiiablc coinpany kcep5 accouDling roTdS thai cotnply Seciions .386 and 187 of the Coii]panies Act 2006 and PICPclriiig fiiiancial siatcnicnts wliicli givc a truc and fair vicw of ihc staic of affairs ofihc cliaritablc coiiipany as at thc cnd of cach finaiicial J'car and of Ils SUTplus or dcficit for cach financsal ycar in accordancc I11h thc rcqiiircincnis of Scciioiis .394 and IC)5 and whicli oil)cn¥isc coiiiply wilh ik rCquirU1)lS of thc Coii]pat)ics Act 211(1() rel1£ iiiig 10 fini£ IICi1c I statcincnls. so far as applicic ble lo Ilie c111( ritc1blc coinpany. (b) Thege financial Slaieinenis have been prepared in ttccordan with the provisions 2ppli¢able 10 ¢hJritabl¢ ¢ompanies subject lo the small COEI)pai]ies rebjiine. The financial siaiements were approved by ihe Board of Tnisiees and aiithorised for issue on -oi/iii . 2nd were signed on lis behalf by= Trnstee The nolcs lonn pan ofihesc financial 5talemcnlg Page 7
Gael Music
Notes to the Financial Statements for the Year Ended 31st March 2021
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.
The Accounts been prepared in accordance with the requirements of the The Statement of Recommended Practice (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)) (issued in October 2019) - (Charities SORP (FRS 102)), The Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006,
Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 25% on reducing balance Computer equipment - straight line over 3 years
Taxation
As a registered charity, the company is exempt from income and corporation tax to the extent that its income and gains are applicable to charitable purposes only. Value Added Tax is not recoverable by the Trust and is, therefore, included in the relevant costs in the Statement of Financial Activities.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
Hire purchase and leasing commitments
Rentals paid under operating leases are charged to the Statement of Financial Activities on a straight line basis over the period of the lease.
continued...
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Gael Music
Notes to the Financial Statements - continued for the Year Ended 31st March 2021
2. DONATIONS AND LEGACIES
| DONATIONS AND LEGACIES | DONATIONS AND LEGACIES | ||||
|---|---|---|---|---|---|
| Grants Tickets/Workshops Grants received, included in the above, are as follows: Other grants |
2021 £ 39,696 1 39,697 2021 £ 39,696 |
2020 £ 102,342 4,226 106,568 2020 £ 102,342 |
|||
| Unrestricted Restricted |
2021 | 2020 | |||
| £'s | £'s | £'s | £'s | ||
| Fees 0 |
0 | 0 | 4,227 | ||
| Arts Council 0 |
0 | 0 | 12,424 | ||
| Young Start Lottery Fund 0 |
17,754 | 17,754 | 26,380 | ||
| Garfield Weston Trust 0 |
0 | 0 | 6,000 | ||
| Gannoch Trust 0 |
0 | 0 | 8,000 | ||
| Foyle Trust 0 |
0 | 0 | 5,000 | ||
| West Dumbartonshire Community Trust 0 |
0 | 0 | 1,000 | ||
| Creative Scotland Youth Music Initiative 0 |
11,942 | 11,942 | 12,538 | ||
| National Heritage 10,000 |
0 | 10,000 | 22,500 | ||
| Robertson Trust 0 |
0 | 0 | 8,500 | ||
| 10,000 | 29,696 | 39,696 | 106,569 | ||
| CHARITABLE ACTIVITIES COSTS Resourced Expenditure Admin Expenses |
Direct Costs £ 14,238 - 14,238 |
Support costs (see note 4) £ - 12,986 12,986 |
Totals £ 14,238 12,986 27,224 |
||
| Unrestricted Restricted |
2021 | 2020 | |||
| £'s £'s |
£'s | £'s | |||
| Tutor, Performance Fees 0 8,238 |
8,238 | 20,531 | |||
| Artistic Director Fees 0 6,000 |
6,000 | 60,084 | |||
| 0 14,238 |
14,238 | 80,615 |
3. CHARITABLE ACTIVITIES COSTS
continued...
Page 9
Gael Music
Notes to the Financial Statements - continued for the Year Ended 31st March 2021
4. SUPPORT COSTS
| SUPPORT COSTS | |||
|---|---|---|---|
| Management £ Admin Expenses 12,282 |
Governance Finance costs £ £ 1 703 |
Totals £ 12,986 |
|
| Unrestricted Restricted |
2021 | 2020 | |
| £'s £'s |
£'s | £'s | |
| Accountancy 703 0 |
703 | 563 | |
| Insurance 184 0 |
184 | 289 | |
| Printing, Postage & Stationery 265 0 |
265 | 194 | |
| Internet 851 0 |
851 | 145 | |
| Hire 1,076 0 |
1,076 | 1,581 | |
| Subscriptions 165 0 |
165 | 131 | |
| Website 0 480 |
480 | 1,294 | |
| Tuning & Repairs 180 64 |
244 | 1,004 | |
| Engineering & Manufacture 0 0 |
0 | 2,067 | |
| Travel 0 0 |
0 | 5,322 | |
| Advertising 67 0 |
67 | 6,498 | |
| Training 0 1,400 |
1,400 | 3,161 | |
| Bank Charges 1 0 |
1 | 130 | |
| Depreciation 7,550 0 |
7,550 | 8,487 | |
| 11,042 1,944 |
12,986 | 30,866 |
5. NET INCOME/(EXPENDITURE)
Net income/(expenditure) is stated after charging/(crediting):
| 2021 | 2020 | |
|---|---|---|
| £ | £ | |
| Depreciation - owned assets | 7,550 | 8,488 |
| Hire of plant and machinery | 1,076 | 1,582 |
6. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31st March 2021 nor for the year ended 31st March 2020.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31st March 2021 nor for the year ended 31st March 2020.
continued...
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Gael Music
Notes to the Financial Statements - continued for the Year Ended 31st March 2021
| 7. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES Unrestricted Restricted fund fund £ £ INCOME AND ENDOWMENTS FROM Donations and legacies 32,151 74,417 EXPENDITURE ON Charitable activities Resourced Expenditure 26,255 54,359 Admin Expenses 15,584 15,282 Total 41,839 69,641 NET INCOME/(EXPENDITURE) (9,688) 4,776 RECONCILIATION OF FUNDS Total funds brought forward 32,347 - TOTAL FUNDS CARRIED FORWARD 22,659 4,776 8. TANGIBLE FIXED ASSETS Plant and Computer machinery equipment £ £ COST At 1st April 2020 71,440 1,500 Additions 1,604 2,239 At 31st March 2021 73,044 3,739 DEPRECIATION At 1st April 2020 47,440 1,000 Charge for year 6,401 1,149 At 31st March 2021 53,841 2,149 NET BOOK VALUE At 31st March 2021 19,203 1,590 At 31st March 2020 24,000 500 |
Total funds £ 106,568 80,614 30,866 111,480 (4,912) 32,347 27,435 Totals £ 72,940 3,843 76,783 48,440 7,550 55,990 20,793 24,500 |
|---|---|
continued...
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Gael Music
Notes to the Financial Statements - continued for the Year Ended 31st March 2021
9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
| VAT Accrued expenses 10. MOVEMENT IN FUNDS |
2021 £ 2,255 1,364 3,619 |
2020 £ 3,109 675 |
|---|---|---|
| 3,784 | ||
| MOVEMENT IN FUNDS | |||
|---|---|---|---|
| Net | |||
| movement | At | ||
| At 1.4.20 | in funds | 31.3.21 | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 22,659 | (1,042) | 21,617 |
| Restricted funds | |||
| Restricted fund | 4,776 | 13,515 | 18,291 |
| TOTAL FUNDS | 27,435 | 12,473 | 39,908 |
| Net movement in funds, included in the above are as follows: | |||
| Incoming | Resources | Movement | |
| resources | expended | in funds | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 10,000 | (11,042) | (1,042) |
| Restricted funds | |||
| Restricted fund | 29,697 | (16,182) | 13,515 |
| TOTAL FUNDS | 39,697 | (27,224) | 12,473 |
| Comparatives for movement in funds | |||
| Net | |||
| movement | At | ||
| At 1.4.19 | in funds | 31.3.20 | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 32,347 | (9,688) | 22,659 |
| Restricted funds | |||
| Restricted fund | - | 4,776 | 4,776 |
| TOTAL FUNDS | 32,347 | (4,912) | 27,435 |
continued...
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Gael Music
Notes to the Financial Statements - continued for the Year Ended 31st March 2021
10. MOVEMENT IN FUNDS - continued
Comparative net movement in funds, included in the above are as follows:
| Unrestricted funds General fund Restricted funds Restricted fund TOTAL FUNDS |
Incoming resources £ 32,151 74,417 106,568 |
Resources Movement expended in funds £ £ (41,839) (9,688) (69,641) 4,776 (111,480) (4,912) |
|---|---|---|
A current year 12 months and prior year 12 months combined position is as follows:
| Net | |||||
|---|---|---|---|---|---|
| movement | At | ||||
| At 1.4.19 | in funds | 31.3.21 | |||
| £ | £ | £ | |||
| Unrestricted funds | |||||
| General fund | 32,347 | (10,730) | 21,617 | ||
| Restricted funds | |||||
| Restricted fund | - | 18,291 | 18,291 | ||
| TOTAL FUNDS | 32,347 | 7,561 | 39,908 |
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
| Incoming | Resources | Movement | |
|---|---|---|---|
| resources | expended | in funds | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 42,151 | (52,881) | (10,730) |
| Restricted funds | |||
| Restricted fund | 104,114 | (85,823) | 18,291 |
| TOTAL FUNDS | 146,265 | (138,704) | 7,561 |
continued...
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Gael Music
Notes to the Financial Statements - continued for the Year Ended 31st March 2021
11. RELATED PARTY DISCLOSURES
Mr Luke Daniels (organisation secretary) was paid £6,000 for acting as a frontline tutor, composer and musical director.
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Gael Music
Detailed Statement of Financial Activities for the Year Ended 31st March 2021
| INCOME AND ENDOWMENTS Donations and legacies Grants Tickets/Workshops Total incoming resources EXPENDITURE Charitable activities Tutors & Performance Fees Artistic Director Support costs Management Hire of plant and machinery Insurance Telephone Postage and stationery Marketing Subscriptions Plant and machinery Computer equipment Exceptional items Finance Bank charges Governance costs Accountancy and legal fees Total resources expended Net income/(expenditure) |
2021 £ 39,696 1 39,697 39,697 8,238 6,000 14,238 1,076 184 851 265 67 165 6,401 1,149 2,124 12,282 1 703 27,224 12,473 |
2020 £ 102,342 4,226 106,568 106,568 20,531 60,083 80,614 1,582 289 145 194 6,498 131 7,987 500 13,410 30,736 130 - 111,480 (4,912) |
|---|---|---|
This page does not form part of the statutory financial statements
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