READIPOP ANNUAL REPORT 2020 - 2021 A summary of Readipop’s work from April 2020 to April 2021.
2020-2021 Readipop in a Pandemic Year CONTENTS
3 Who We Are
6 What We Do + Our Funders
11 The New Building
12 Our Impact and Reach
14 Our Finances
15 Thanks
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WHO ARE WE
About Us
Established in 1998, Readipop is an innovative music and arts charity with a strong reputation for inspirational, engaging arts projects that make a positive difference in people’s lives. We are passionate about the power of music to communicate and bring people together. Our work celebrates our community and the joy of creativity as vital to a fulfilled life.
“A first class example of ambition triumphing in the face of adversity.”
- Terry Adams of Arts Council England commenting on Readipop’s new purchase.
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WHO ARE WE
Our Approach
Our programmes are participant or artist led, focused on original work and help to improve confidence and opportunities for the people we work with. Sessions are musically inclusive, involving musicians of varying skill levels, and both social and musical diversity is celebrated. Across every programme and project we run, we always strive to develop musicianship and create positive change within individuals and groups. Readipop also aims to promote creativity, all whilst listening to and aiding individuals to find their own life paths or improve as musicians.
Though Readipop reaches people of many different backgrounds in Reading and the Thames Valley, our focus is always on targeting places where need is greatest. For this reason, we prioritise the needs of marginalised peoples and communities, and others facing hardship in our local community when devising and running new programmes and projects.
From providing weekly interaction through our community bands, to being a young person’s sole place of interaction with education or engagement, Readipop always aims to facilitate ‘Music Changing Lives’.
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OUR APPROACH
WHAT WE DO
A Year at Readipop
April 2020 started very strangely, and got stranger still. Readipop studios had been closed since the 15th March, and the charity started April having just announced the postponement of its 5th Readipop Festival due to the Coronavirus pandemic. With all in-person sessions cancelled, two members of our core team put on full time furlough, and the country in a national lockdown, April brought a cruel start to this report year.
However, Readipop refused to stay idle over the following 12 months.
A month into lockdown, the team had already reinvented some of it’s most crucial work. Older participants were given support to access brand new virtual community band sessions and the organisation had re-established 1:1 sessions digitally with its most hard-to-reach young people.
By May, Readipop had reached even more of the community with video catch-ups and music-based discussion for AAA participants. New audiences of all ages and abilities found the charity through its Creative Lockdown campaign, getting musical from home via brand new video tutorials and creative resources. And as July approached, there were rumours that even the Festival could be re-invented for the new normal.
Virtual Readipop Festival 2020 celebrated the ‘lockdown spirit’ of all our participants and a music community deprived of venues and livelihoods. It brought together video performances from young rappers,
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ukulele groups and other local talent, alongside the livestreamed delights of Musical Youth, Badly Drawn Boy and a Beardyman set which sampled the infamous tones of Broad Street’s long gone doughnut man.
Streamed from an empty looking Milford Rd, the event marked the final usage of Readipop’s home of many years and the beginning of a new chapter at 15 Trafford Rd.
With lots of heavy lifting, the new building grew into a usable space ready to restart in-person 1:1 work for November. COVID-19 had different plans, and after only one session, new regulations halted delivery once more. Restrictions stepped up further as we approached Christmastime, meaning our annual Hootenanny was also forced online.
However, Readipop still celebrated with its community. Bringing together audio tracks and home video recordings from almost 100 different participants and team members, a group cover of Shakin’ Stevens’ ‘Merry Christmas Everyone’ (ft. a Bob Marley interlude) was created, complete with music video.
Reminded from home of the huge array of people the charity supports, Readipop went into the new year even more determined to restart in-person work. By March it was decided the full team would finally come back from furlough and by the end of the month even better news arrived; Readipop had purchased its new building. This was a huge coup for the organisation and will give the charity stability and the chance to expand and develop new and existing projects for years to come.
2020-21 had shown Readipop the crucial civic role it has in Reading’s community more clearly than ever. As April 2021 began, in-person work commenced and the team regrouped to restart existing projects and meet new needs, with the aim to change even more lives through music.
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WHAT WE DO
Readipop Programmes 2020 - 2021
The Coronavirus pandemic presented new challenges for Readipop, and enforced changes to our programme. This is included adapting existing provision, and creating new projects to help change lives through music:
“I am now realising for the first time the healing - Community band member powers of music.”
- Community band member during the pandemic.
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ACCESS ALL AREAS
‘AAA’ -
ACCESS ALL AREAS
Readipop’s AAA (Access All Areas) programme brings together a number of projects to engage and support young people and their music:
MUSIC BASED MENTORING
These 1:1 sessions are for Reading’s most vulnerable young people. They are referred to us from pupil referral units, the young offenders service, schools specialising in special educational needs students and other children’s services. The sessions continued where possible throughout the pandemic via online sessions, as Readipop helped provide production software and equipment where needed. By the close of March 2021, the team were prepared and booking in face-to-face sessions to recommence in April 2021.
OPEN ACCESS SESSIONS
Regular visitors to Readipop’s AAA Friday group sessions were invited instead to group video calls, where young people could discuss what they’d been up to, listening to and writing whilst stuck at home.
“It’s made me feel like I have a family... with ties that even a pandemic - AAA participant on Readipop’s online cannot sever.”
- AAA participant on Readipop’s online sessions during lockdown.
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OTHER COMMUNITY WORK
VIRTUAL READIPOP FESTIVAL
With COVID-19 restrictions in full force and the in-person festival cancelled, Readipop instead hosted 4hrs of live-streamed music and entertainment; bringing together big names, local musicians and charity participants. The event attracted over 7386 views on a hot summer’s day.
COMMUNITY BANDS
Readipop ran virtual sessions for its samba group Beatroots Bateria, Tankata Percussion, 60+ choir Moving On and Ukulele groups Tea and Jam (60+) and Small Strings (all ages), to help keep band members’ engaged, playing music and socialising whilst they were forced to isolate at home.
CREATIVE LOCKDOWN
Set up to help people of all ages and abilities get creative virtually, readipop.co.uk/creativelockdown is a collection of free music tutorials, activities and other resources compiled to entertain, engage and educate people through the pandemic and beyond.
D&D ARTIST DEVELOPMENT PROGRAMME + RISER
Readipop continued its Discovery & Development programme by mentoring artists via video calls, recording sessions, and promoting local acts with a brand new podcast series. Beyond this work, the wider local music community were surveyed and consulted on how the charity could help support them when Coronavirus restrictions lifted. Planning also began for a new record label, RISER, after a successful bid for project funding from Arts Council England. The project will benefit talented local artists from under-privileged and under-represented backgrounds to record and release new music.
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THE NEW BUILDING
Readipop started moving from its old premises at Milford Rd to Trafford Rd in summer 2020, with the old building becoming increasingly difficult to maintain and upkeep as a headquarters.
By spring 2021, the new digs had become a home. Supported by Big Issue Invest, Chris Bevington Foundation, The Earley Charity and Garfield Weston Foundation, Readipop had successfully purchased its new premises.
Owning the new space (which includes new office and meeting areas, rehearsal spaces and recording studios) will give Readipop greater capacity going into the future; helping the organisation to change even more lives through music.
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OUR REACH + IMPACT
1 ZOOM PRO SUBSCRIPTION.
124 VIRTUAL COMMUNITY BAND SESSIONS.
19 YOUTH GROUP CATCH-UP SESSIONS.
22 1:1 MUSIC MENTORING SESSIONS.
2413 TOTAL SESSION ATTENDANCES.
41 OTHER ORGANISATIONS WORKED WITH.
143 CREATIVE LOCKDOWN VIDEOS.
23774 YOUTUBE VIEWS ON NEW VIDEO CONTENT.
Social Media reach
484 (+305) Subscribers
Readipop: 6861 Followers
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@Readipopcharity / @Readipopfestival: 3192 Followers
@Readipop: 3380 Followers
OUR
REACH + IMPACT
13
FINANCES
INCOME:
Donations and Legacies: £477,330 Charitable Activities: £11,685 Investment Income: £24 Other Income: £53
TOTAL INCOME: £489,092
EXPENDITURE:
Expenditure on charitable activities: £305,858
CHARITY FUNDS:
Restricted Funds: £140,588 Unrestricted Funds: £54,578 Total Charity Funds: £195,166
For Readipop’s full accounts, please head to the Charity Commission website and search for Readipop.
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THANK YOU!
As we close off 2021, we would like to say a massive thank you to all those who have attended, performed, participated, collaborated with, supported, led or otherwise been involved with a Readipop event or project, or donated to our charity. Our work is only realised through grants and donations, and your generosity does not go unnoticed.
If you would like to further help Readipop and what we do, please donate or become a Readipop friend here: readipop.co.uk/donate
Our Funders
We would like to thank the following organisations who helped us in the 2020 - 2021 financial year:
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Report photo credits:
James McCrory.
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Readipop ofce@ 15 Traford Road readipop.co.uk Reading, RG1 8JP 0118 327 2442 readipop.co.uk
Charity No.1123962 Company Ltd No: 4803838
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COMPANY REGISTRATION NUMBER: 04803838 CHARrrY REGISTRATION NUMBER: 1123962 Readipop Llmited Company Limited by Guarantee Unaudited Financial Statements 31 March 2021
Readipop Limited Company Limited by Guarantee Financial Staiemenis Year ended 31 March 2021 Page Trustees, annual report (incorporating the director's report) Independent examiner's report to the trustees Statement of financial activities {including income and expenditure account) Statement of financial position Notes to the financial statements 12 14
Readlpop Llmlted Company Llmited by Guarantee Trust88s' Annual Report (Incorporating the Direeior's Report) Year ended 31 March 2021 The trustees, who are also the directors for the purposes of company law, present their rewrt and the unaudited flnanclal statements ol the charity lor the year ended 31 March 2021. A¢hlovomen18 and performance PROGRAMME OVERVIEW: Work wlth Young People Readipop's AAA (Access All Arèas) programm6 brings togelher a numbgr of projects lo engage and support young people and theli music.. Mu81c Ba88d Montorlng.. 1..1 music sessions with experienced music mèntors. 'I've only been out ol my house for hall an hour this whole week.. this Is the only thing that gets m8 motivated 10 do anything.'_ L Ir8lerred by Outcom8s Focused Support Services) .1 love this place, il's so cooll My anxiety has completely gone.. S Irelerred by 8righter Futures lor Chlldrenl 'Wilhout you guy51 don't know where A would be" Par6nl Get Startod wllh Mu•lc'. A one-we8k intensive muslc project tor young people aged 16-25 who are NEET (not in education, employm8nl or training) organl$8d In partnership with The PrSne8's Trust. "Irs Iov8ly to 888 that the young wople com8 first here.. Prfnce's Trust stall Hollday workshop8: Open access workshops. "You have a super way ol empowering the young poopl8 to hew them make declslons." Care staff Children In On Acc088 Se••lon•: Evening workshops lor young Musicians Including live band workshops, music production and studio work. 'Irs made me fe81 like I have lamlly, a talented, muslcal, 8UPPOrtive, inspiring, friendly, non- judgemenlal, permanent lamily with roots and 118S that even a pandemic cannot sevèr.. Participant .1 really like the sharing sessions where we share anythlng creatlve we have done recently. 11 helps my confidence In playing in front ol other people - something l am vèry scared ofl" AAA participant "I think il has been great to connect wth oth&r m8mbers of AAA and know what they have been up lo and dolng. especially sinc8 we are not able to meet during th8 pandemic.. . AAA Partlclpant .1 love belng here becausa I lust love making musi¢ and Rèadipop makes that posslble.. by Brighter Futures for Chlldr8nl "He's been so al home at AeadSpop, in a way Ihal he NEVER was at School. Thank you all so much... parent A (referred
Readipop Limlted Company Llmiled by Guarantee Trustees, Annual Report (Incorporating the Dlrector's Report) (conllnuod) Year ended 31 March 2021 Family Jarn.. A family music session fo", kids and adults lo experlence and learn to play together. his is the best music activity lor kids that we've been lol. parent Prlmary School Work8hop8: A var18ty of engaglng creative workshops for schools from hall-day taster workshops 10 regular projects. AAA was fuTrJed by Youth .Music, Children in Need, Berkshire Community Foundation, Andrew Lloyd Webber Foundatlon and Prfnce's Trust. T•lont Dov•lopm&nt Readipop's D&D (Dlscovery & D8v8lopmenll prograrnme is a talent development, meniorSng and netsvorking programme, supporting the artistic and prol&ssional development of young and emerglng musicians. Communlty Bond8 Our bands are led by experlenced, prolessional musicians who CTeal8 a lun, sociable space lo make and play muslc together. Our projects afe open to beginners as well as more experienced player5. We managed to suslaln out bar$ through covSd lockdowns. Butroo18 Is Reading's community Samba drummlno group. 11 has b8en runnlng slnce 1996 and has pertormed al many major 8vents and leslivals including WOMAD, The Thames Festival and th8 Olympi¢ Rowng during London 2012. Absolute beginners can join the band by taking part In a Samba 101 taster workshop. Thank you tor keeping us united, lor creating the wonderful Beatrools Q-lunk project lor virtual Readipop and for creating the space lor us all lo still play music together, have fun and stay connected.. Bealrools Participant 'Mainlainlng a Connection lo som8lhlng non work related during lockdown (even of it was not 'in persoll'l ha5 been a Ilf8 saver, otherwis8 my. life was almost 100Y. locus8d on JUST home-based working (which was totally rubbish lor my mental heallhl.. Beatroots Partlclpanl Movlng On Is a s¢xlablo slnglng group for people aged 60+. Th8 group meets every Monday al midday In Soulhcote. ReadSng lo learn and slng vocal arrangemanls 0¢ classlc wpular songs Including anything Irom your chlldho¢)d lo the present day. "l arn enjoylng the sessions very much, il makes me feel l am st511 connected 10 other people and the oulslde world. Derry makes the sessions interesting and lun. Il's Ihg hbghlight ol my week." Moving On Partlclpant "In thes8 W81rd days when one day runs Into each Dther, I really look forward to Mondays - It adds structure lo my day, Ilfts my gplrils, gets the old endorphins golng and I laugh out loud al some of the things Derry comos out wllh. I would really miss It il we had to stop. And b91ng on a Monday, il's a really good way to start the week." Movlng On Partlcipant 'Irs given me contact with the outslde world whllst in lockdown and Isolatlng. And onè day of the week a bil ol pre covid normality ol going to choir and slnging. And Ihrough Darry feellng conn8cled wlth fellow members." Movlng On Participant Tho Small Strlng8 Is a ukulele projgct and entertaSnSng performing group with a varied repertoire of popular songs. Sossions includ& rehearsing current songs, learning new ones and learning or dev8loping playing and performance technique. We run Ukulele 101 workshops for absolut8 beginners and short beginners courses at th8 start ol each terrn lo induct new players into the band. "I've found the sessions bring a sense ol 'normalily' and structure to my week. l ollen struggle lo slop working wlth the home set up but on Wednesday I will finish on tirnelishl and relaxl. The Small Slrinos Partlcipanl
Readipop Limlted Company Limited by Guarantee Trustees, Annual Report (Incorporaiing the Director's Report) (¢ontlnued) Year ended 31 March 2021 Tankata Percusslon18arn, develop and rehearse African rhythms played on a mix of traditional drums and percussion including djembas and dun duns. 'Online Zoom drummlng sessSons wth Steve and Tankala were a breath ol fresh air during lockdown. It was nice to see everyone online and unwind for a lew hours each week." _ Tankala Participant 'The elassès have been a real hlghllghl durlng the drflicult times of ldoWn$ and the pandemlc. Long may they conllnuel"_ Tankala Particlpant Tea & Jam Is a 8oclable and lun ukul818 club almed at Wlnners and rusty musSclans aged 60+. Weekly •-hOUr s8ssions are lèd by a vèry skSlled and hlghly patient musician and tutor.. 'H8Ip8d lo boost my morale in these trying limes. Very much kjok forward lo Thursdays." _Tea & Jam Partlclpanl hursdals sesslons. qulte honestly in thls third lockdown hav8 been a 'lll8 saver,. l am now realising lor the first tlme thé heallng powers of music, singing and taklng part In both.. Tea and Jam Parlicipanl ENVIRONMENTAL: Readipop has an Envlronmental Pollcy and Acilon Plan, whlch are bjlh revlewed annually. Thls plan drives our contlnued commilm8nl to anvlronmental sustslnabi1Siy in all ar6as of our activlly, including the Readlpop offlce, our audlencas, mark81inglpubliclty, and events. Our reportlng shows that we are malchSng Performing Arts Bullding benchmarks lor eleclrlclty use and less than half the amount ol water. Our new premlses are much more energy efllcient, reducing our en8r9y usage slgnlflcanlly. Fln8nclal rovlow The current reserves policy 18 lo br8ak4v6n on an annuaf basis whilst growing thé company in accordance with our business plan. Totai funds at th8 year end was £11,932 of whlch restrfcted funds were £9,825 and unr6slrlct8d funds were £2,107. The current reserves polbcy is to br8ak.8ven on an annuai basls whllst growlng the company In accordance wlth our buslness plan.
Readipop Limited Company Limi16d by Guarantee Truslees, Annual Report (Incorporating the Director's Report) (oortlnuod) Year ended 31 March 2021 Oblectlvos and actlvlties About Aeadlpop R8adipop Is a mu81c and arts charity based In Readlng. Established in 1998, Readipop is an innovative music aThJ arts charity wlth a strong replrtalion lor Inspirational, angaging arts projects that make a positiv8 diff8renee In people's lives. We ar8 passlonale about the power of music to communicate and bring peopl8 together. Our work Celebrates our Gommunily and the joy of creativity as vital lo a fulfilled life. Publlc Bénollt In settlng our objectives and plannlng our actSvllies, we have given cargful consld8ratlon to the Charlty Commisslon's general guidanc8 on publlc ben81it. Obleet8 The oblectSves ol R8adlpop are.. To Promot8 the d8V8bpments of the arts, and In partlcular muslc, for the ben8llt ol th& local community by.. lal provldSng sludlo space and facllllleg and Ibl organising events and actlvllles. To advance 8ducallon by promoting understanding and18arnlng about the creats've 18chnlcal processes involv8d in th8 creatlon ol music and associated art foms, thereby developing artistlc appreciallon. MUSIC CHANGING LIVES. Community projects Community Bands. Artist Development• Readlpop Fesilval• Events• Workshops• Support to othèr organlsatlons.,. Readipop provide accèss lo muslc for vu1w1ab young people from hard-to-r8ach areas, includlng young offenders. the long-lerm un8mployed, Spgclal Educational Needs students, Illdual5 from pupil referral units, and those who ar8 not ab18 to access conventional education. Our music leaders èmpower young peopl8 to learn and improve their muslc skills., helping them gain eonfldence in their ehos6n area and achleve their own goals while improvSng their emotional and social wellbeing. Alongside Ihls work, Readlpop run and support a number of community bands supporting all Reading's communill8s, provide music education lo thousands ol schoolchildren, and a development programme to help undgr-represenled local artists thriv8 in the rnusic industry. Our annual three-day music festival al Christchurch Meadows, leattjring inl8rnationally renowned and local acts, alongside street tood, craft beer and r8al ales plus workshops in music, arts & dance. The fesllval celebrates Reading's crealivily and raises vital funds lor Readipop. The funds go towards the wort( Readipop carries out in the community, bringing music to all with wot1(shops and inilialiv8s lor those und8rrepresenled in the arts. Educallon prooramm88 Our organisatlon: Readipop ha5 an exporienced board of trustees including professionals worklng within the communlty.
Readipop Llmlled Company Limited by Guaranlee Trustees. Annual Report (Incorporaling the Director's Report) Year ended 31 March 2021 arts and music industriès. Flèadipop's foundèr, Gavin Lombos, won a PrKle 01 Readlng award lor hls cultural contribution to the city. Readipop was establish8d in 1998 and is a music and arts charity (company limited by guarantee and registered charity since 20081 based in Reading. Readipop survived the pandemic and managed to relocate our studlo basa whllst ralslng the funds to purchas8 th8 freehold of our n6w Readipop studios base in Trafford Road. In 2020 we ran vlrtual leslival and began work on posl-pandemic events lo ready lo rèlaunch Readipop Festlval In 2022. We have r8lained our stall team and freelancers and supported local artists lo access emergency funding during lockdowns. We have shown our resi118n¢e and emerged from the pandemic rèady to rebuild a resurgent R&adipop In a new home. .1 have had th8 great pleasure ol Chairing the Readipop Board lor eight months and am pleased lo have saen the stall team grow during this period ol lime. Given th& scopa, range and quality ol our programme, I woukl Ilke lo congratulate our 8xcell8nl stall on thelr combined achievements. Despite the impact ol Covid, Readipop has grown from strength lo strength in the last year and our new hom8 in Trallord Road will enable us lo lake things to an even higher level. Chrls 8loomll8ld R8adipop Chair
Readipop Llmlted Company Limlted by Guaraniee Trustees. Annual Report (Incorporating the Director's Report) (¢ontlnu•dJ Year ended 31 March 2021 Rolerence and admlnistrntlve dotalls Reglslered charlty nam8 Rgadlpop Umlted Charlty r8g18tratlon numbor 1123962 Company reglslrolion number 04803838 Prlnclpal offSce ond reg18tor•d 15 Trafford Road olllco Aeading Berkshire RG1 WP The Irustee8 Mr C Bloomfleld Mr T J Gr8ave8 Mrs M G Maxwell Mrs R P Wllllam8 Mrs A Cadogan Mrs A Codliry Mr P Crjllins Mrs C Harper-ouflln Mrg S Plowright Company 9ocrnlary Mr G L Lombos Indopondont oxamlner N J Cadwallad8r FCCA For and On Behalf of David Caowallader & Co Limlled Suite 3 Bignell Park Barns CheiTrterto Nr Bicester Oxo OX26 1 TO
Readipop Llmited Company Llmlted by Guarantee Trustees, Annual Report (Incorporating Ihe Director's Report) (eonthued) Year ended 31 March 2021 Strueturè, governan and managemerrt Governlng document The organisation is a charitable company limited by guarantee and registered In England and Wales as a charity on 6 May 2008. The name ol the charitable company as listed in th8 Regi8ler of Charitie5 IS R8adipop. Th8 charitable company is governed undbr MemorarKlum and Articlès of Association and was incorporated on 19 June 2003. The reolstered and prlncSpal address of the charlty Is Unlt 35, Mllford Road, Reading, Berkshire, RG1 8LG. Recrultment and appolnlment ol naw Irustees Thè procedurès lor retirement and appointmènt of trus188s ar8 dètailéd in th& Mèmorandum and Articles of Association under which the charitable company is governed. Inductlon and tralnlng of new trust5 New board members receive a role description delailino what Is expected of them. Trustees are expected to att8nd a minimum ol 0 out ol the four board meellngs a year. Those trustees who miss rnor8 than thr88 m88llngs may be required to r811r8. Trustees are also &xp8c18d to d8vo18 Ilm8 to reading papers and preparlno for board me8tlnos. They may also be 8xp8cl8d lo attend sub-committees or task groups, attend lundraislng and oih8r 8v8nt8 and undertake appropriate training and developrnent. R18k M•nag8ment The Irusle8s have a duly to Idenllty and revlew the rlsks lo whlch the charlty Ss exFK)sed and ensure approprlate controls are In place lo provlde reasona8 assurance agalnst fraud and error. Managemant The board ol dlrectors meet four to slx tlmes a year lo oversee the runnlng of the charlty. The Creative Dlrector and Exeoutlve Director manag& day-lo-day adminislrallon. Kéy staff Gavln Lombos - Co-founder and Creative Director Amy Hoddèr - Executive Dirèctor Louise Godfrey - Educatlon Programme Coordinator Yusef Sacoor- Muslc Programme Coordlnator Small company provl•lon• This report has b8én prepared In accordance wlth the provislons appllcable to companlés 8n11118d to the small companl8s exempllon.
Readipop Limited Company Llmlted by Guarantee Trustees, Annual Report (Incorporating the Director's Report) (¢onaTnu•dJ Year ended 31 March 2021 The trustees. annual Fort was approved on 10 Decembgr 2021 and signed on behalf ol the board of Mrs A Codling Trustee
Readlpop Limited Company Llmiied by Guarantee Independent Examlner's Report to Ihe Trustees of Readipop Limlted Year ended 31 March 2021 I report to the trusi8es on my examlnallon of the financial statements of Readipop Limilad I'lhe charlt¢l lor the year ended 31 March 2021. RegponJlbllltieB and ba818 of rnport As th8 trustees ol the company land also its directors for the purFrf)ses of company lawl you are responsible for thé preparation of the financial statem8nts in accordance with the requirements ol the Companies Act 20061'th8 2006 Act'l. Having satislied myself that the accounts of the company are not requifed lo be audited under Part 18 of the 2006 Act and are eligiblè lor Sndepenéenl examination, I report in respgct of my examination ol the Charity's accounts as carded out under $8cllon 145 of th8 Charities Act 2011 I'lhe 2011 Acl'l. In carrying out my examination I hav8 followed the Dlreclions glven by the Charlty Commisslon under secllon 14515llbl of the 2011 Act. Independonl examlner's •tatemont Sincè th8 charlty's gross income exceeded £250,000 your examlnar must b8 a m8mb8r ol a body listed in section 145 01 the 2011 Act. I conlirm that l am quallfied to undertake th8 8xamlnatlon because l am a member ol the Associatlon ol Chartered Certified Accountants. whl¢h Is one of the Ilsled bodies. I have completed my examlnatlon. I conllfm that no matters have Come to my attentlon in connection wlth the 8xamlnatSon glving m8 cause to b&lieve: accounting records w8r8 not kept in re8P8cI of the charlly as requlred by s8cllon 386 of the 2006 Act,. or the flnanclal slal8m8nts do not accord wllh those records- or the Ilnancial statèments do not comply with the accountlng requlremenls of secllon 396 of the 2006 Act other than any r8quirement that the accounts giv8 a Irue and fairf view which18 nol a maller con$lder8d as part of an independent examination., of the financial slalements havè nol been prepared In accordanc8 wlth the methods and principles ol the Statement of Recommended Practice for accounting and reporting by charities applicable lo charlties pr8parlno their accounts In accordanc8 wllh the Flnancial Reportlng Standard applicable in the UK arKI Rapubllc ol Ireland {FRS 1021.
Readipop Limited Company Limiled by Guarantee Independent Examlner's Report to the Trustees of Readipop Limited l¢onllnuodl Year ended 31 March 2021 I have no concerns and have come across no oth8r matters in connection wth the examinatlon lo accounts to b& reached. N J Cadwallader FCCA For and On Behalf of David Cadwallader & Co Llmlled Independent Examlner Sulte 3 Bignell Park Barns Chgsl8rton Nr Blc8$ler Oxon OX26 1TD li 10
Readipop Limited Company Limited by Guarantee Stalemenl ot Financial Activilies (including income and expandlture account) Year ended 31 March 2021 2021 Restricted funds Totsl funds Total funds 2020 Unreslricled fuThJs Income and endowment• Donations and legacles Charitable activities Investment income Other income 223.875 11.685 24 53 253,455 477,330 11.685 24 53 210,891 187,331 2,106 400,328 Total Incomo 235,637 253,455 489,092 Expendlture Expenditure on raislng funds.. Costs of other trading actSvilies Exp8ndilure on charltable actlvltle8 Tot•1 oxpendlture 2,765 386,670 389,435 10,11 183,166 183,166 122,692 122,692 305,858 305,858 Nel Incom• ond nel movement In fund8 52,471 130,763 183,234 10,893 Reconclllatlon ol fund8 Total lund8 brought forward Tot81 fund• carrfod fonmard 2,107 54,578 9,825 140,588 11.932 1,039 11,932 195,166 The stal8m8nt ol flnanclal actlvllles Includes all galn8 and losses re¢oani88d In the year. All incorne and 8xpendltur8 darlve from conlnulng avItIes. Tho notes on pages 14 to 23 fonn part ol these flngncl•l stalwn•nt8. 11
Readipop Limited Company Limited by Guaraniee Statement of Financial Posilion 31 March 2021 2021 2020 Flxed assets Tangible fixed assets 16 274,190 7,329 Currenl a88ets Debtors Cash al bank arKJ In hand 17 14,241 134,872 149,113 56,862 15,425 72,287 Credllor8: amounts falllng duo wlthlrt onè yr Net currenl •58•ts 18 109,550 67,684 4.603 39.563 Total a$MtB •8 currènt Ilabllltlo8 313,753 11,932 Crodltor8: amounts falllng duo after morn Ihan ono ye•r Net a88etJ 19 118,587 195,166 11.932 Fund8 ol the charlty Reslrlcled funds Unrestrlcled funds 140,588 54,578 195,166 9.825 2.107 Total charlty lunda 21 11,932 For the year ending 31 March 2021 the charlly was ent4118d lo exemption from audlt und8r sectlon 477 of tha Companies Act 2006 relallng to small companies. Dlreclors, r9SFiJnsibi1S1ies'. The memb8rs have not required the company lo obtain an audll of tinanclal statements lor the year In qu8slion In accordance with saction 476. Thè dlr8Ctors acknowledge their rèsponsibililles for complying wlth the requlremenls ol th8 Act wllh regp8cI to accounting records and the pr8paration ol financial statements. These financial statements have been prepared in accordance wlth the provisions apICable lo companies subject to the smdl MpanieS, regime. The statement of financial position continues on the following page. Th• noto8 on pagos 14 to 23 lorrn wrt of these fin8n¢l•l $1otements. 12
Readipop Limited Company Llmlted by Guaranteo Statement of Financial Position (conllnuodj 31 March 2021 These fInancl statements were ap¥Jroved by the board of trust888 and authorised for Issue on 10 Dec8mb8r 2021, and ar8 sned on behalf of the board by: Mrs A Codllng Trustee The noteg ¢n pag•$ 14 to 23 lorm of th88• financial statsm•nts. 13
Readipop Limited Company Limited by Guarantee Notes to the Financlal Stslements Year ended 31 March 2021 General Inlormatlon The charity is a public benefit entity and a private company Ilmited by guaiantee, regisl8ied in and a registered charlty in England and Wales. The address of the registered office is 15 Trafford Road, Readlng, Berkshlre, RG1 PJP. Statèmént of compllancè Thesè financial siaièmants have been prepared In compliance with FRS 102, The Flnanclal Reporting Standard aFplicable in the UK and the Republlc ol Ireland,, the Statement ol Recommended Practice applicable lo chaTltles preparing Ihelr accounts accordance with the Financial Reporting Standard applicable in the UK and Republic ol Ireland IFRS 1021 Icharilles SORP IFRS 10211 and the Companies Act 2006. Aceountlng polleS•* Basls of proparatlon Th8 flnanclal statements hav8 b8en wepaièd on the historal cost basis, as mod11+8d by the revaluallon ol c8rtaln Ilnanclal ass818 and liabilkles and investment properties m8a5ured at lalr value through Inrome or expendliure. The financial statements arè prepared in sterllng, which is th8 functional currèncy of the 8nlty. Golng Concern There are no materlal uncertainil8s about the charity's ablllty lo continue. Judgement8 and key Bourca• ol o•tlm•tlon une•rtalnty The preparallon ol the flnanclal statements requires manag8ment lo make Judgements, estimates and assumptions that aflecl the amounts reported. The88 esllmales and ludg8m8nls ar8 continually reviewod and are based on 8xperlenc8 and other factors, includlng expe¢lalions ol luluffj events that are belleved lo be reasonable under the clrcum61an¢6s. Fund accountlng Unrestrieled funds are avallable tor use al the dlscrellon ol the trustees lo further any of th charills purposes. Designa18d funds aro Ljnreslricled funds earmarked by the Iru8tees lor PacUlar future project or eommilment. R8strlct8d funds are subjected to restrlcllons on theSr expendllure declared by the donor or through the terms of an appeal, and fall Snto one of tsvo sub-classes.. reslrlcled income funds oi endowmént funds. 14
Readipop Limited Company Llmltad by Guarante8 Notes to the Flnancial Stst8m8nts (¢ontlnu•d) Year ended 31 March 2021 Accounting polic1•8 {¢ontlnuvd) Incomlng re8our¢os All incoming resources are included in th& slalement ol linancial activities 8ntitl8ment has passed to the charity., it is probable that th8 economic benefits associated with the transaction will flow to the charity and the amount can b6 reliably measured. Th8 following specrlic policies are applied lo particulai ca18gorie8 of income: income from donallong or grants18 recognlsed when th8r& Is evidence of entitlement to the glft, receipt Is probable and ils amount can bo measured rellably. legacy Income Is r8cognlsed r8c8lpi is wobable and entlllement Is eslabllshed. Income from donated goods is measured al the lalr value ol the goods un18SS thls Is impractical to measure reliably, in which case the value is derived liom the cost lo the donor or the eslimaled resale value. Donated facilities and services are rQgnised in the accounts sthen received if the value can be rella1Y measured. No amounts are included lor the contribution ol g&neral volunteers. Income from contracts for the supply ol servlces is r8cognlsed with the dellvery ol the contracted servicé. This is classi118d as unr8Strlcl8d funds unless ther8 is a contractual requirem8nl lor It to be sp8nt on a partlcular purpose and relum8d If unsp8nt, in which case it may be regard80 as restricted. Re8ource8 expendod Expenditure is recognis8d on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be tully iecovered, and is classified und&r headings of the slat8menl of Ilnancial activities lo whSch It relat88'. &xpendlluré on raising funds includes the c¢)sls of all fundralslng activlties, gvents, non- charitable trading a¢tivitles, and the sale of donated goods. expgndSlure on charltable aclivrties includes all costs Incurred by a charity in undertaklng activities that further its charitable alms lor the beneflt of Its beneficlwies, includSng those support Costs and costs relating to the governance of the charlty apportioned to charltable activlties. other expenditure Includes all expenditure that Is nelih8r related to ralsiNJ funds lor the charlty nor part ol its 8xpendllure on charitable acllvities. All costs are allocated to expendilure categories relleclino the use ol the resource. Direct c¢)sts attrlbutable to a slngle acllvlty ar8 allocated dlrectly to that acllvity. Shared costs are apportloned beeen the activities they contribute lo on a reasonable, jusliliable and consi51enl basis. Tangible aMets Tanglble assets are initially recorded at cost, and subsequently slated at oosl less any accumulated depreciation and impairment losses. Any tangibl& assets carrled al revalued amounts are recoided al th8 lair valuè at the date of revaluation lass any subsèqu8nt accumLJlal8d depreciation arKI subsequent accumulated impairment Ioss8S. 15
Readlpop Limited Company Limlted by Guarantee Noies to the Flnanclal Ststemenls (conllnued) Year ended 31 March 2021 Accountlng poll¢lgs (contlnu•d) Tanglble assets {con11nl) An incr8as8 in the carrwng amount ol an asset as a result ol a revaluation, is recognised In othgr recognised galns and lose8S, unless it revgrs8s a charge for impairment that ha5 previously been recognised as exp8ndilure within the statement ol financial acliviti8s. A decrease in the carrying amount of an asset a5 a result ol revaluation, is recognisod in other recognised gains and losses, except to which il olls8ls any previous revaluation gain, in which cas8 the loss is shown wlthin other recogiiised gains and losses on the statement ol financial activlties. Doprèciatlon D8preclallon is calculated so as lo wrlle ofl the cost or valuatkjn ot an asset, less its residual value, over the useful OnOMiC life ol that ass81 as follows: Equipment 20% stralght Ilne Impalrment ol Ilxed •s•ots A rèvlow for Indlcalors of irnpalrmenl Is carrled out at each reporting date, wllh the recoverable amount b&ing estimated where such Indicators exist. Where the carrying value exceeds the coverable amount, the asset is impaired accordlngly. Prlor Impairments are also revlewed for possiblè r8versal at each reFX)rting date. For the purposes of ImpaSrmenl testing, when 11 Ss not wsslble lo esllmate the recov8rable amount ol an Indlvldual ass81, an estimate Is made ol the recoverable amount ol the cash- genèralino unbl to which the asset belong5. The cash-generatlng unll Is the smallest Idenliliable group ol assets Ihat includes the asset and gen8rates cash Intlows that largely IrvJup¥rid¥iil vl Ili¥ cash inflows from other assets Dr groups of ass81S. For Impairm8nl lesllng ot goodwlll, the gooofv4ill acqulred In a business comblnatlon Is, from the acqulsilion date, allocated to each ol the cash-g8n8raling units that are expected to benefit from the synergies ol the combination. irr8sp8cIiv8 ol whether other assets or liabilities of the charlty are assigned lo thos8 units. Financial In8trument8 A flnanclal asset or a finanelal liablllty is rec&Jnlsed only when the charlty b8com85 a party to the contractual provlslons ol the instrument. Basic flnancial instruments are initially recognised at the amount receivable or payable IncludSno any rolaled transaction costs. Current asselg and curr8ni liabili116s are subsequently measured at the cash or other conslderatlon expected to b8 paid or recelved and dlscounled. Debt instruments are subsequently moasured at amortised cost. 16
Readipop Limited Company Limlted by Guarantee Notes to the Flnanclal Statements (con11na) Year ended 31 March 2021 Accounllng poli¢106 {conttnu•d) Fln8nclal Inslruments (Wlllnth•d) Where investments in sharés aré publicly traded or their fair value can OlheThvise be measured reliably, the investment is subsequently measur8d al fair value with changes in lair valu8 recognis8d in income and exp8ndilure. All other such inv8Stm8nts are subsequently measured at cost less impairment. Other financlal InslrLments, including derlvailves, are inltlally recognis8d at falr Vu8, unless paym8nt lor an asset is deferred beyond normal busln8s8 terms or financed al a rale ol Interest that is not a mat81 rate, in which case the asset is measured al the present valué of the future payments discounted al a market rale of inter8St for a similar debt Instrument. Olher linanclal instruments are subsequèntly m8asured at lair value, wlth any changes recognlsed In the statement ol IlnancSal activi118s, with the exceptlon of hedging instruments in a d8slgnat8d h8dglng relallonshlp. Financial assets that ar8 m8asured at cost or amortised cost are revlew8d lor objectlve evld8nce of impaimi8nl al the 8nd ol each reportlng date. It there is obj8ct1v8 evidenc8 of impalrment, an impairment loss is rec¢)gnised under the approprlate heading In thè statement ol tlnancial actlvi1185 in whlch the Inllial galn was r8cognls8d. For all equlty instruments regardless of slgnillcance, and oihgr financial as88ts that ar8 Indlvfdually signllSoanl. these are assessed IndlvSdually lor Impalrmant. Other financial assèts are either assessed Indlvldually or grouped on the basis of slmilar credll risk characlerislics. Any reversals of Impalrment are recognised immedia181y, lo the extent that the r8varsal does not r8suII in a carrying amount ol the financial asset that 8xceeds what thè carrwng amount would have bgen had th8 impairm8nt not prevlously boon racognlsed. 0Ined contrlbutlon plans Contrtbutlons to dellned contribullon plans are recognised as an expen98 In tha period In which the related service is provided. Prepaid contributions are rectsanised as an asset lo the extent that tho prepayment will lead to a reduction in future payments or a cash refund. When conlributSons are not expected lo be settled wholty wlthln 12 months of the end ol the reporting date in whlch the employees render the related s8rvlc8, the Ilablllly Is measured on a dlscounled pr8s8nt value basls. The unwndlro of the discount Is recoonised as an expense In Ihe period in which il arises. Llmlted by guar8nleo The charitabl8 company, not having a share capital, Is limlled by guarant88. Each members, liability is limited to an amount not exce8ding £1 in the event ol the company being wound up. 17
Readipop Llmlted Company Limited by Guarantee Notes to the Financial statements (cOrtth) Year ended 31 March 2021 Donaiions and legacies UnreStrted Funds Restricted Total Funds Funds 2021 Donatlons Donations 640 Grants Grants recèivabl 223,235 223,875 253,455 253,455 476,690 477,330 Unrastricled Funds Restrlcted Total Fund9 Funds 2020 Don•tSon8 Donallons 26,780 26,780 Grant8 Grants receivable 145,143 171,923 38,968 38,968 184,111 210,891 Charltable actlvltlo• Unrestrlcted Totsl Fund• Unr8slrlc18d Total Funds Funds 2021 Funds 2020 Workshops and pertormanc8 R8adlpop F&stlval Hlre of Sludlo 6,790 6,790 42,241 129,025 16,065 42,241 129,025 18,065 4,895 4,895 11,685 11,685 187,331 187,331 Inv081mont Incomo Unreslrlcted Total Fund8 Unreslrlcled Total Funds Funds 2021 Funds 2020 Interest received 24 24 Oth8r Incom8 Unr8slricled Total Fund¥ Unrestricted Total Funds Funds 2021 Funds 2020 Other income 53 53 2,106 2,106 18
Readipop Limited Company Limited by Guarantee Notes to the Flnanclal Statem8nlS (eonllnued) Year ended 31 March 2021 Co818 ol othor tradlng o¢tlvltle6 Unrèstrictèd Tolal Funds Unrestricted Total Funds Fundg 2021 Funds 2020 Costs of other trading aclivili 2,765 2,765 10. Expendlluie on charltable actlvltl•8 by lund ty Unreslricled Funds Restricted Total Fund• Funds 2021 Charitable actlvitl8S Support costs 187,877 15.289 122,692 290,569 15,289 183,166 122,692 305,858 Unrestricted Fun(ts Restrlcled Total Funds Funds 2020 Charitable aclivitle8 Support costs 349,828 8,523 26,199 2,120 376,027 10,643 358,351 28,319 386,670 11. Expondlturo on chorltoblo actlvltle8 by 8cllvlty typo Activitles undertaken directly Support costs Total lund8 2021 Total fund 2020 Charitable acilv+ties Gov8rnan¢8 costs 290,569 290.569 15,289 305,858 376,027 10,643 386,670 15,289 15,289 290,569 12. Nèt incoma Net incom8 Is stated after charglnWlcredOtlngl: 2021 2020 Depreclation ol tanolble flxed assets 4,937 3,681 13. Indepondant oxamlnatlon I8 2021 2020 Fees payable to the Independent examlner for-. Independent examlnallon of Ihe Ilnancial slaiemants 1,500 1,440 19
Readipop Limited Company Llmited by Guarantee Notes to the Flnancial Slatements (eonllnued) Year ended 31 March 2021 14. Stall ¢081$ The average head count of employees during the y8ar was 412020.. 51. The average number ol tull-t1rn8 equivalent employees duriro the year is analysed as follows: 2021 2020 No. Adminstratlon staff No 8mployee received employe8 ben811is of more than £60,000 durlng the year12020'. Nill. 13. Truste• remunerallon and expgn3eS There were no trusteès. expens8s paid for the year eThJed 31 March 2021 nor for the year ended 31 March 2020. 16. Tanglblo flxed a8gOts Freehold propety Equiprnent Total Coll Al 1 April 2020 Aodltlons Disposals Al 31 March 2021 52,899 7,131 17781 59,252 52,899 272,131 17781 324,252 265,000 265,000 Depreclailon Al 1 Aprll 2020 Charge lor the year Dlsposals 31 Morch 2021 45,570 4,937 14451 50,062 45,570 4,937 14451 50,062 Carrylng amounl Al 31 March 2021 265,000 9,190 7,329 274,190 7,329 At 31 March 2020 17. Debtorn 2020 Trade debtors Prepayments and accrued incomg Other debtors 2,215 41,744 12,903 56,862 4,741 9,500 14,241
Readipop Limited Company Llmiied by Guarantee Notes to the Financlal Statements (¢onWni*d) Year ended 31 March 2021 18. Crnditor•: amounls falllng duo within one year 2021 2020 Bank loans and overdrafts Trade credf(or8 Accruals and delerred income Soclal security and other taxes Other ci8dilors 10,653 58,457 34,384 2,410 3,491 13.949 44,644 4.924 676 109,550 67,684 19. Cred11018'. amounts falllng du• altèr mor• than onè yr 2021 2020 Bank loans and ov8rdraft8 118,587 Durlng the year th8 Charity 8nlered inlo a loan for £80,000 r8payable ovér 60 months al an Interest rale o17Vo per annum. The Chartty also look a bounce-back loan of £50,000 from HSBC bank. 20. Pen81oni •nd olhor po•1 r•tlremenl benollt8 D•lln•d contrlbutlon plans Th8 amount recognised In Income or expendlture as an expense In rélatlon to dellned conlribullon plans was £2,18912020: £1,873) 21. Analys18 ol ¢h•rltabl• fund• Unrestrlclod lund8 At 1 April 2020 31 March 202 Income Expendliur8 General funds 2,107 235,637 1183.1661 54,578 At 31 March 202 Al 1 April 2019 Income Expendlture Gen8ral funds 1.863 381,360 1361,1161 2,107 21
Readipop Limlted Company Limited by Guarantee Notes lo Ihe Financial Ststements (coniinued) Year ended 31 March 2021 21. Analy$is of charltablo fund8 (willniwd) Re8trlcted lund8 At 31 March 202 At 1 Aprll 2020 Income Expendllure Youtli Music Arts Council England National Lottery Earley Founclallon Garfield Weston CRF ACE- Record Box 2,825 29,848 17,3601 25,313 7,OC 17,0001 110,657} 80,000 25,000 95,000 23,607 69,343 25.000 195,0001 12,6751 1122,6921 20,932 9,825 253,455 140,588 Al 31 Mah 202 Ai 1 Aprll 2019 Incom8 Expendlture Youth MusSc Arts Council ErrfJland Nallonal Lottery Earley Foundation Garfield Weston CRF ACE . Record Box {8411 17 29,848 126,1821 1171 12,1201 2,825 9,120 7,000 {824} 38,968 128,3191 9.825 Tho Charity had a number ol reslricl8d funds operating during the year. Th8 prlmary purpose for the funding is shown below.. Youth Muglc AAA programme to Feb 2022. N8llonal Lotlery Flel¢xation lo Trafford Road Earl&y Charlty Purchase ot Tralford Road Garfl•ld Weston PuTchas8 ol Trafford Road CRF Coronavirus Recovèry Fund to suslaln Aeadipop Festival ACE Flecord Box project to develop Riser muslc label 2021-22
Readipop Limited Company Limited by Guarantse Notes to the Flnanclal Statements {coniinii•d) Year ended 31 March 2021 22. Analy818 ol net a8s8ls between funds Unreslrlct8d Funds Restrict8d Tolal Fund• Funds 2021 Tangibl8 Ilxed assets Current agsets Credltors lass than 1 year No188•ets 273,846 8,869 1228,1371 54,578 344 140,244 274,190 149.113 1228.1371 195,166 140,588 Unrestricted Funds Restricted Total Funds Funds 2020 Tangible fixed assets Current assets Creditors less than 1 year 6,741 63,050 167,6841 2,107 58B 9,237 7,329 72,287 167,6841 11,932 9,825 23
COMPANY REGISTRATION NUMBER: 04803838 CHARrrY REGISTRATION NUMBER: 1123962 Readipop Llmited Company Limited by Guarantee Unaudited Financial Statements 31 March 2021
Readipop Limited Company Limited by Guarantee Financial Staiemenis Year ended 31 March 2021 Page Trustees, annual report (incorporating the director's report) Independent examiner's report to the trustees Statement of financial activities {including income and expenditure account) Statement of financial position Notes to the financial statements 12 14
Readlpop Llmlted Company Llmited by Guarantee Trust88s' Annual Report (Incorporating the Direeior's Report) Year ended 31 March 2021 The trustees, who are also the directors for the purposes of company law, present their rewrt and the unaudited flnanclal statements ol the charity lor the year ended 31 March 2021. A¢hlovomen18 and performance PROGRAMME OVERVIEW: Work wlth Young People Readipop's AAA (Access All Arèas) programm6 brings togelher a numbgr of projects lo engage and support young people and theli music.. Mu81c Ba88d Montorlng.. 1..1 music sessions with experienced music mèntors. 'I've only been out ol my house for hall an hour this whole week.. this Is the only thing that gets m8 motivated 10 do anything.'_ L Ir8lerred by Outcom8s Focused Support Services) .1 love this place, il's so cooll My anxiety has completely gone.. S Irelerred by 8righter Futures lor Chlldrenl 'Wilhout you guy51 don't know where A would be" Par6nl Get Startod wllh Mu•lc'. A one-we8k intensive muslc project tor young people aged 16-25 who are NEET (not in education, employm8nl or training) organl$8d In partnership with The PrSne8's Trust. "Irs Iov8ly to 888 that the young wople com8 first here.. Prfnce's Trust stall Hollday workshop8: Open access workshops. "You have a super way ol empowering the young poopl8 to hew them make declslons." Care staff Children In On Acc088 Se••lon•: Evening workshops lor young Musicians Including live band workshops, music production and studio work. 'Irs made me fe81 like I have lamlly, a talented, muslcal, 8UPPOrtive, inspiring, friendly, non- judgemenlal, permanent lamily with roots and 118S that even a pandemic cannot sevèr.. Participant .1 really like the sharing sessions where we share anythlng creatlve we have done recently. 11 helps my confidence In playing in front ol other people - something l am vèry scared ofl" AAA participant "I think il has been great to connect wth oth&r m8mbers of AAA and know what they have been up lo and dolng. especially sinc8 we are not able to meet during th8 pandemic.. . AAA Partlclpant .1 love belng here becausa I lust love making musi¢ and Rèadipop makes that posslble.. by Brighter Futures for Chlldr8nl "He's been so al home at AeadSpop, in a way Ihal he NEVER was at School. Thank you all so much... parent A (referred
Readipop Limlted Company Llmiled by Guarantee Trustees, Annual Report (Incorporating the Dlrector's Report) (conllnuod) Year ended 31 March 2021 Family Jarn.. A family music session fo", kids and adults lo experlence and learn to play together. his is the best music activity lor kids that we've been lol. parent Prlmary School Work8hop8: A var18ty of engaglng creative workshops for schools from hall-day taster workshops 10 regular projects. AAA was fuTrJed by Youth .Music, Children in Need, Berkshire Community Foundation, Andrew Lloyd Webber Foundatlon and Prfnce's Trust. T•lont Dov•lopm&nt Readipop's D&D (Dlscovery & D8v8lopmenll prograrnme is a talent development, meniorSng and netsvorking programme, supporting the artistic and prol&ssional development of young and emerglng musicians. Communlty Bond8 Our bands are led by experlenced, prolessional musicians who CTeal8 a lun, sociable space lo make and play muslc together. Our projects afe open to beginners as well as more experienced player5. We managed to suslaln out bar$ through covSd lockdowns. Butroo18 Is Reading's community Samba drummlno group. 11 has b8en runnlng slnce 1996 and has pertormed al many major 8vents and leslivals including WOMAD, The Thames Festival and th8 Olympi¢ Rowng during London 2012. Absolute beginners can join the band by taking part In a Samba 101 taster workshop. Thank you tor keeping us united, lor creating the wonderful Beatrools Q-lunk project lor virtual Readipop and for creating the space lor us all lo still play music together, have fun and stay connected.. Bealrools Participant 'Mainlainlng a Connection lo som8lhlng non work related during lockdown (even of it was not 'in persoll'l ha5 been a Ilf8 saver, otherwis8 my. life was almost 100Y. locus8d on JUST home-based working (which was totally rubbish lor my mental heallhl.. Beatroots Partlclpanl Movlng On Is a s¢xlablo slnglng group for people aged 60+. Th8 group meets every Monday al midday In Soulhcote. ReadSng lo learn and slng vocal arrangemanls 0¢ classlc wpular songs Including anything Irom your chlldho¢)d lo the present day. "l arn enjoylng the sessions very much, il makes me feel l am st511 connected 10 other people and the oulslde world. Derry makes the sessions interesting and lun. Il's Ihg hbghlight ol my week." Moving On Partlclpant "In thes8 W81rd days when one day runs Into each Dther, I really look forward to Mondays - It adds structure lo my day, Ilfts my gplrils, gets the old endorphins golng and I laugh out loud al some of the things Derry comos out wllh. I would really miss It il we had to stop. And b91ng on a Monday, il's a really good way to start the week." Movlng On Partlcipant 'Irs given me contact with the outslde world whllst in lockdown and Isolatlng. And onè day of the week a bil ol pre covid normality ol going to choir and slnging. And Ihrough Darry feellng conn8cled wlth fellow members." Movlng On Participant Tho Small Strlng8 Is a ukulele projgct and entertaSnSng performing group with a varied repertoire of popular songs. Sossions includ& rehearsing current songs, learning new ones and learning or dev8loping playing and performance technique. We run Ukulele 101 workshops for absolut8 beginners and short beginners courses at th8 start ol each terrn lo induct new players into the band. "I've found the sessions bring a sense ol 'normalily' and structure to my week. l ollen struggle lo slop working wlth the home set up but on Wednesday I will finish on tirnelishl and relaxl. The Small Slrinos Partlcipanl
Readipop Limlted Company Limited by Guarantee Trustees, Annual Report (Incorporaiing the Director's Report) (¢ontlnued) Year ended 31 March 2021 Tankata Percusslon18arn, develop and rehearse African rhythms played on a mix of traditional drums and percussion including djembas and dun duns. 'Online Zoom drummlng sessSons wth Steve and Tankala were a breath ol fresh air during lockdown. It was nice to see everyone online and unwind for a lew hours each week." _ Tankala Participant 'The elassès have been a real hlghllghl durlng the drflicult times of ldoWn$ and the pandemlc. Long may they conllnuel"_ Tankala Particlpant Tea & Jam Is a 8oclable and lun ukul818 club almed at Wlnners and rusty musSclans aged 60+. Weekly •-hOUr s8ssions are lèd by a vèry skSlled and hlghly patient musician and tutor.. 'H8Ip8d lo boost my morale in these trying limes. Very much kjok forward lo Thursdays." _Tea & Jam Partlclpanl hursdals sesslons. qulte honestly in thls third lockdown hav8 been a 'lll8 saver,. l am now realising lor the first tlme thé heallng powers of music, singing and taklng part In both.. Tea and Jam Parlicipanl ENVIRONMENTAL: Readipop has an Envlronmental Pollcy and Acilon Plan, whlch are bjlh revlewed annually. Thls plan drives our contlnued commilm8nl to anvlronmental sustslnabi1Siy in all ar6as of our activlly, including the Readlpop offlce, our audlencas, mark81inglpubliclty, and events. Our reportlng shows that we are malchSng Performing Arts Bullding benchmarks lor eleclrlclty use and less than half the amount ol water. Our new premlses are much more energy efllcient, reducing our en8r9y usage slgnlflcanlly. Fln8nclal rovlow The current reserves policy 18 lo br8ak4v6n on an annuaf basis whilst growing thé company in accordance with our business plan. Totai funds at th8 year end was £11,932 of whlch restrfcted funds were £9,825 and unr6slrlct8d funds were £2,107. The current reserves polbcy is to br8ak.8ven on an annuai basls whllst growlng the company In accordance wlth our buslness plan.
Readipop Limited Company Limi16d by Guarantee Truslees, Annual Report (Incorporating the Director's Report) (oortlnuod) Year ended 31 March 2021 Oblectlvos and actlvlties About Aeadlpop R8adipop Is a mu81c and arts charity based In Readlng. Established in 1998, Readipop is an innovative music aThJ arts charity wlth a strong replrtalion lor Inspirational, angaging arts projects that make a positiv8 diff8renee In people's lives. We ar8 passlonale about the power of music to communicate and bring peopl8 together. Our work Celebrates our Gommunily and the joy of creativity as vital lo a fulfilled life. Publlc Bénollt In settlng our objectives and plannlng our actSvllies, we have given cargful consld8ratlon to the Charlty Commisslon's general guidanc8 on publlc ben81it. Obleet8 The oblectSves ol R8adlpop are.. To Promot8 the d8V8bpments of the arts, and In partlcular muslc, for the ben8llt ol th& local community by.. lal provldSng sludlo space and facllllleg and Ibl organising events and actlvllles. To advance 8ducallon by promoting understanding and18arnlng about the creats've 18chnlcal processes involv8d in th8 creatlon ol music and associated art foms, thereby developing artistlc appreciallon. MUSIC CHANGING LIVES. Community projects Community Bands. Artist Development• Readlpop Fesilval• Events• Workshops• Support to othèr organlsatlons.,. Readipop provide accèss lo muslc for vu1w1ab young people from hard-to-r8ach areas, includlng young offenders. the long-lerm un8mployed, Spgclal Educational Needs students, Illdual5 from pupil referral units, and those who ar8 not ab18 to access conventional education. Our music leaders èmpower young peopl8 to learn and improve their muslc skills., helping them gain eonfldence in their ehos6n area and achleve their own goals while improvSng their emotional and social wellbeing. Alongside Ihls work, Readlpop run and support a number of community bands supporting all Reading's communill8s, provide music education lo thousands ol schoolchildren, and a development programme to help undgr-represenled local artists thriv8 in the rnusic industry. Our annual three-day music festival al Christchurch Meadows, leattjring inl8rnationally renowned and local acts, alongside street tood, craft beer and r8al ales plus workshops in music, arts & dance. The fesllval celebrates Reading's crealivily and raises vital funds lor Readipop. The funds go towards the wort( Readipop carries out in the community, bringing music to all with wot1(shops and inilialiv8s lor those und8rrepresenled in the arts. Educallon prooramm88 Our organisatlon: Readipop ha5 an exporienced board of trustees including professionals worklng within the communlty.
Readipop Llmlled Company Limited by Guaranlee Trustees. Annual Report (Incorporaling the Director's Report) Year ended 31 March 2021 arts and music industriès. Flèadipop's foundèr, Gavin Lombos, won a PrKle 01 Readlng award lor hls cultural contribution to the city. Readipop was establish8d in 1998 and is a music and arts charity (company limited by guarantee and registered charity since 20081 based in Reading. Readipop survived the pandemic and managed to relocate our studlo basa whllst ralslng the funds to purchas8 th8 freehold of our n6w Readipop studios base in Trafford Road. In 2020 we ran vlrtual leslival and began work on posl-pandemic events lo ready lo rèlaunch Readipop Festlval In 2022. We have r8lained our stall team and freelancers and supported local artists lo access emergency funding during lockdowns. We have shown our resi118n¢e and emerged from the pandemic rèady to rebuild a resurgent R&adipop In a new home. .1 have had th8 great pleasure ol Chairing the Readipop Board lor eight months and am pleased lo have saen the stall team grow during this period ol lime. Given th& scopa, range and quality ol our programme, I woukl Ilke lo congratulate our 8xcell8nl stall on thelr combined achievements. Despite the impact ol Covid, Readipop has grown from strength lo strength in the last year and our new hom8 in Trallord Road will enable us lo lake things to an even higher level. Chrls 8loomll8ld R8adipop Chair
Readipop Llmlted Company Limlted by Guaraniee Trustees. Annual Report (Incorporating the Director's Report) (¢ontlnu•dJ Year ended 31 March 2021 Rolerence and admlnistrntlve dotalls Reglslered charlty nam8 Rgadlpop Umlted Charlty r8g18tratlon numbor 1123962 Company reglslrolion number 04803838 Prlnclpal offSce ond reg18tor•d 15 Trafford Road olllco Aeading Berkshire RG1 WP The Irustee8 Mr C Bloomfleld Mr T J Gr8ave8 Mrs M G Maxwell Mrs R P Wllllam8 Mrs A Cadogan Mrs A Codliry Mr P Crjllins Mrs C Harper-ouflln Mrg S Plowright Company 9ocrnlary Mr G L Lombos Indopondont oxamlner N J Cadwallad8r FCCA For and On Behalf of David Caowallader & Co Limlled Suite 3 Bignell Park Barns CheiTrterto Nr Bicester Oxo OX26 1 TO
Readipop Llmited Company Llmlted by Guarantee Trustees, Annual Report (Incorporating Ihe Director's Report) (eonthued) Year ended 31 March 2021 Strueturè, governan and managemerrt Governlng document The organisation is a charitable company limited by guarantee and registered In England and Wales as a charity on 6 May 2008. The name ol the charitable company as listed in th8 Regi8ler of Charitie5 IS R8adipop. Th8 charitable company is governed undbr MemorarKlum and Articlès of Association and was incorporated on 19 June 2003. The reolstered and prlncSpal address of the charlty Is Unlt 35, Mllford Road, Reading, Berkshire, RG1 8LG. Recrultment and appolnlment ol naw Irustees Thè procedurès lor retirement and appointmènt of trus188s ar8 dètailéd in th& Mèmorandum and Articles of Association under which the charitable company is governed. Inductlon and tralnlng of new trust5 New board members receive a role description delailino what Is expected of them. Trustees are expected to att8nd a minimum ol 0 out ol the four board meellngs a year. Those trustees who miss rnor8 than thr88 m88llngs may be required to r811r8. Trustees are also &xp8c18d to d8vo18 Ilm8 to reading papers and preparlno for board me8tlnos. They may also be 8xp8cl8d lo attend sub-committees or task groups, attend lundraislng and oih8r 8v8nt8 and undertake appropriate training and developrnent. R18k M•nag8ment The Irusle8s have a duly to Idenllty and revlew the rlsks lo whlch the charlty Ss exFK)sed and ensure approprlate controls are In place lo provlde reasona8 assurance agalnst fraud and error. Managemant The board ol dlrectors meet four to slx tlmes a year lo oversee the runnlng of the charlty. The Creative Dlrector and Exeoutlve Director manag& day-lo-day adminislrallon. Kéy staff Gavln Lombos - Co-founder and Creative Director Amy Hoddèr - Executive Dirèctor Louise Godfrey - Educatlon Programme Coordinator Yusef Sacoor- Muslc Programme Coordlnator Small company provl•lon• This report has b8én prepared In accordance wlth the provislons appllcable to companlés 8n11118d to the small companl8s exempllon.
Readipop Limited Company Llmlted by Guarantee Trustees, Annual Report (Incorporating the Director's Report) (¢onaTnu•dJ Year ended 31 March 2021 The trustees. annual Fort was approved on 10 Decembgr 2021 and signed on behalf ol the board of Mrs A Codling Trustee
Readlpop Limited Company Llmiied by Guarantee Independent Examlner's Report to Ihe Trustees of Readipop Limlted Year ended 31 March 2021 I report to the trusi8es on my examlnallon of the financial statements of Readipop Limilad I'lhe charlt¢l lor the year ended 31 March 2021. RegponJlbllltieB and ba818 of rnport As th8 trustees ol the company land also its directors for the purFrf)ses of company lawl you are responsible for thé preparation of the financial statem8nts in accordance with the requirements ol the Companies Act 20061'th8 2006 Act'l. Having satislied myself that the accounts of the company are not requifed lo be audited under Part 18 of the 2006 Act and are eligiblè lor Sndepenéenl examination, I report in respgct of my examination ol the Charity's accounts as carded out under $8cllon 145 of th8 Charities Act 2011 I'lhe 2011 Acl'l. In carrying out my examination I hav8 followed the Dlreclions glven by the Charlty Commisslon under secllon 14515llbl of the 2011 Act. Independonl examlner's •tatemont Sincè th8 charlty's gross income exceeded £250,000 your examlnar must b8 a m8mb8r ol a body listed in section 145 01 the 2011 Act. I conlirm that l am quallfied to undertake th8 8xamlnatlon because l am a member ol the Associatlon ol Chartered Certified Accountants. whl¢h Is one of the Ilsled bodies. I have completed my examlnatlon. I conllfm that no matters have Come to my attentlon in connection wlth the 8xamlnatSon glving m8 cause to b&lieve: accounting records w8r8 not kept in re8P8cI of the charlly as requlred by s8cllon 386 of the 2006 Act,. or the flnanclal slal8m8nts do not accord wllh those records- or the Ilnancial statèments do not comply with the accountlng requlremenls of secllon 396 of the 2006 Act other than any r8quirement that the accounts giv8 a Irue and fairf view which18 nol a maller con$lder8d as part of an independent examination., of the financial slalements havè nol been prepared In accordanc8 wlth the methods and principles ol the Statement of Recommended Practice for accounting and reporting by charities applicable lo charlties pr8parlno their accounts In accordanc8 wllh the Flnancial Reportlng Standard applicable in the UK arKI Rapubllc ol Ireland {FRS 1021.
Readipop Limited Company Limiled by Guarantee Independent Examlner's Report to the Trustees of Readipop Limited l¢onllnuodl Year ended 31 March 2021 I have no concerns and have come across no oth8r matters in connection wth the examinatlon lo accounts to b& reached. N J Cadwallader FCCA For and On Behalf of David Cadwallader & Co Llmlled Independent Examlner Sulte 3 Bignell Park Barns Chgsl8rton Nr Blc8$ler Oxon OX26 1TD li 10
Readipop Limited Company Limited by Guarantee Stalemenl ot Financial Activilies (including income and expandlture account) Year ended 31 March 2021 2021 Restricted funds Totsl funds Total funds 2020 Unreslricled fuThJs Income and endowment• Donations and legacles Charitable activities Investment income Other income 223.875 11.685 24 53 253,455 477,330 11.685 24 53 210,891 187,331 2,106 400,328 Total Incomo 235,637 253,455 489,092 Expendlture Expenditure on raislng funds.. Costs of other trading actSvilies Exp8ndilure on charltable actlvltle8 Tot•1 oxpendlture 2,765 386,670 389,435 10,11 183,166 183,166 122,692 122,692 305,858 305,858 Nel Incom• ond nel movement In fund8 52,471 130,763 183,234 10,893 Reconclllatlon ol fund8 Total lund8 brought forward Tot81 fund• carrfod fonmard 2,107 54,578 9,825 140,588 11.932 1,039 11,932 195,166 The stal8m8nt ol flnanclal actlvllles Includes all galn8 and losses re¢oani88d In the year. All incorne and 8xpendltur8 darlve from conlnulng avItIes. Tho notes on pages 14 to 23 fonn part ol these flngncl•l stalwn•nt8. 11
Readipop Limited Company Limited by Guaraniee Statement of Financial Posilion 31 March 2021 2021 2020 Flxed assets Tangible fixed assets 16 274,190 7,329 Currenl a88ets Debtors Cash al bank arKJ In hand 17 14,241 134,872 149,113 56,862 15,425 72,287 Credllor8: amounts falllng duo wlthlrt onè yr Net currenl •58•ts 18 109,550 67,684 4.603 39.563 Total a$MtB •8 currènt Ilabllltlo8 313,753 11,932 Crodltor8: amounts falllng duo after morn Ihan ono ye•r Net a88etJ 19 118,587 195,166 11.932 Fund8 ol the charlty Reslrlcled funds Unrestrlcled funds 140,588 54,578 195,166 9.825 2.107 Total charlty lunda 21 11,932 For the year ending 31 March 2021 the charlly was ent4118d lo exemption from audlt und8r sectlon 477 of tha Companies Act 2006 relallng to small companies. Dlreclors, r9SFiJnsibi1S1ies'. The memb8rs have not required the company lo obtain an audll of tinanclal statements lor the year In qu8slion In accordance with saction 476. Thè dlr8Ctors acknowledge their rèsponsibililles for complying wlth the requlremenls ol th8 Act wllh regp8cI to accounting records and the pr8paration ol financial statements. These financial statements have been prepared in accordance wlth the provisions apICable lo companies subject to the smdl MpanieS, regime. The statement of financial position continues on the following page. Th• noto8 on pagos 14 to 23 lorrn wrt of these fin8n¢l•l $1otements. 12
Readipop Limited Company Llmlted by Guaranteo Statement of Financial Position (conllnuodj 31 March 2021 These fInancl statements were ap¥Jroved by the board of trust888 and authorised for Issue on 10 Dec8mb8r 2021, and ar8 sned on behalf of the board by: Mrs A Codllng Trustee The noteg ¢n pag•$ 14 to 23 lorm of th88• financial statsm•nts. 13
Readipop Limited Company Limited by Guarantee Notes to the Financlal Stslements Year ended 31 March 2021 General Inlormatlon The charity is a public benefit entity and a private company Ilmited by guaiantee, regisl8ied in and a registered charlty in England and Wales. The address of the registered office is 15 Trafford Road, Readlng, Berkshlre, RG1 PJP. Statèmént of compllancè Thesè financial siaièmants have been prepared In compliance with FRS 102, The Flnanclal Reporting Standard aFplicable in the UK and the Republlc ol Ireland,, the Statement ol Recommended Practice applicable lo chaTltles preparing Ihelr accounts accordance with the Financial Reporting Standard applicable in the UK and Republic ol Ireland IFRS 1021 Icharilles SORP IFRS 10211 and the Companies Act 2006. Aceountlng polleS•* Basls of proparatlon Th8 flnanclal statements hav8 b8en wepaièd on the historal cost basis, as mod11+8d by the revaluallon ol c8rtaln Ilnanclal ass818 and liabilkles and investment properties m8a5ured at lalr value through Inrome or expendliure. The financial statements arè prepared in sterllng, which is th8 functional currèncy of the 8nlty. Golng Concern There are no materlal uncertainil8s about the charity's ablllty lo continue. Judgement8 and key Bourca• ol o•tlm•tlon une•rtalnty The preparallon ol the flnanclal statements requires manag8ment lo make Judgements, estimates and assumptions that aflecl the amounts reported. The88 esllmales and ludg8m8nls ar8 continually reviewod and are based on 8xperlenc8 and other factors, includlng expe¢lalions ol luluffj events that are belleved lo be reasonable under the clrcum61an¢6s. Fund accountlng Unrestrieled funds are avallable tor use al the dlscrellon ol the trustees lo further any of th charills purposes. Designa18d funds aro Ljnreslricled funds earmarked by the Iru8tees lor PacUlar future project or eommilment. R8strlct8d funds are subjected to restrlcllons on theSr expendllure declared by the donor or through the terms of an appeal, and fall Snto one of tsvo sub-classes.. reslrlcled income funds oi endowmént funds. 14
Readipop Limited Company Llmltad by Guarante8 Notes to the Flnancial Stst8m8nts (¢ontlnu•d) Year ended 31 March 2021 Accounting polic1•8 {¢ontlnuvd) Incomlng re8our¢os All incoming resources are included in th& slalement ol linancial activities 8ntitl8ment has passed to the charity., it is probable that th8 economic benefits associated with the transaction will flow to the charity and the amount can b6 reliably measured. Th8 following specrlic policies are applied lo particulai ca18gorie8 of income: income from donallong or grants18 recognlsed when th8r& Is evidence of entitlement to the glft, receipt Is probable and ils amount can bo measured rellably. legacy Income Is r8cognlsed r8c8lpi is wobable and entlllement Is eslabllshed. Income from donated goods is measured al the lalr value ol the goods un18SS thls Is impractical to measure reliably, in which case the value is derived liom the cost lo the donor or the eslimaled resale value. Donated facilities and services are rQgnised in the accounts sthen received if the value can be rella1Y measured. No amounts are included lor the contribution ol g&neral volunteers. Income from contracts for the supply ol servlces is r8cognlsed with the dellvery ol the contracted servicé. This is classi118d as unr8Strlcl8d funds unless ther8 is a contractual requirem8nl lor It to be sp8nt on a partlcular purpose and relum8d If unsp8nt, in which case it may be regard80 as restricted. Re8ource8 expendod Expenditure is recognis8d on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be tully iecovered, and is classified und&r headings of the slat8menl of Ilnancial activities lo whSch It relat88'. &xpendlluré on raising funds includes the c¢)sls of all fundralslng activlties, gvents, non- charitable trading a¢tivitles, and the sale of donated goods. expgndSlure on charltable aclivrties includes all costs Incurred by a charity in undertaklng activities that further its charitable alms lor the beneflt of Its beneficlwies, includSng those support Costs and costs relating to the governance of the charlty apportioned to charltable activlties. other expenditure Includes all expenditure that Is nelih8r related to ralsiNJ funds lor the charlty nor part ol its 8xpendllure on charitable acllvities. All costs are allocated to expendilure categories relleclino the use ol the resource. Direct c¢)sts attrlbutable to a slngle acllvlty ar8 allocated dlrectly to that acllvity. Shared costs are apportloned beeen the activities they contribute lo on a reasonable, jusliliable and consi51enl basis. Tangible aMets Tanglble assets are initially recorded at cost, and subsequently slated at oosl less any accumulated depreciation and impairment losses. Any tangibl& assets carrled al revalued amounts are recoided al th8 lair valuè at the date of revaluation lass any subsèqu8nt accumLJlal8d depreciation arKI subsequent accumulated impairment Ioss8S. 15
Readlpop Limited Company Limlted by Guarantee Noies to the Flnanclal Ststemenls (conllnued) Year ended 31 March 2021 Accountlng poll¢lgs (contlnu•d) Tanglble assets {con11nl) An incr8as8 in the carrwng amount ol an asset as a result ol a revaluation, is recognised In othgr recognised galns and lose8S, unless it revgrs8s a charge for impairment that ha5 previously been recognised as exp8ndilure within the statement ol financial acliviti8s. A decrease in the carrying amount of an asset a5 a result ol revaluation, is recognisod in other recognised gains and losses, except to which il olls8ls any previous revaluation gain, in which cas8 the loss is shown wlthin other recogiiised gains and losses on the statement ol financial activlties. Doprèciatlon D8preclallon is calculated so as lo wrlle ofl the cost or valuatkjn ot an asset, less its residual value, over the useful OnOMiC life ol that ass81 as follows: Equipment 20% stralght Ilne Impalrment ol Ilxed •s•ots A rèvlow for Indlcalors of irnpalrmenl Is carrled out at each reporting date, wllh the recoverable amount b&ing estimated where such Indicators exist. Where the carrying value exceeds the coverable amount, the asset is impaired accordlngly. Prlor Impairments are also revlewed for possiblè r8versal at each reFX)rting date. For the purposes of ImpaSrmenl testing, when 11 Ss not wsslble lo esllmate the recov8rable amount ol an Indlvldual ass81, an estimate Is made ol the recoverable amount ol the cash- genèralino unbl to which the asset belong5. The cash-generatlng unll Is the smallest Idenliliable group ol assets Ihat includes the asset and gen8rates cash Intlows that largely IrvJup¥rid¥iil vl Ili¥ cash inflows from other assets Dr groups of ass81S. For Impairm8nl lesllng ot goodwlll, the gooofv4ill acqulred In a business comblnatlon Is, from the acqulsilion date, allocated to each ol the cash-g8n8raling units that are expected to benefit from the synergies ol the combination. irr8sp8cIiv8 ol whether other assets or liabilities of the charlty are assigned lo thos8 units. Financial In8trument8 A flnanclal asset or a finanelal liablllty is rec&Jnlsed only when the charlty b8com85 a party to the contractual provlslons ol the instrument. Basic flnancial instruments are initially recognised at the amount receivable or payable IncludSno any rolaled transaction costs. Current asselg and curr8ni liabili116s are subsequently measured at the cash or other conslderatlon expected to b8 paid or recelved and dlscounled. Debt instruments are subsequently moasured at amortised cost. 16
Readipop Limited Company Limlted by Guarantee Notes to the Flnanclal Statements (con11na) Year ended 31 March 2021 Accounllng poli¢106 {conttnu•d) Fln8nclal Inslruments (Wlllnth•d) Where investments in sharés aré publicly traded or their fair value can OlheThvise be measured reliably, the investment is subsequently measur8d al fair value with changes in lair valu8 recognis8d in income and exp8ndilure. All other such inv8Stm8nts are subsequently measured at cost less impairment. Other financlal InslrLments, including derlvailves, are inltlally recognis8d at falr Vu8, unless paym8nt lor an asset is deferred beyond normal busln8s8 terms or financed al a rale ol Interest that is not a mat81 rate, in which case the asset is measured al the present valué of the future payments discounted al a market rale of inter8St for a similar debt Instrument. Olher linanclal instruments are subsequèntly m8asured at lair value, wlth any changes recognlsed In the statement ol IlnancSal activi118s, with the exceptlon of hedging instruments in a d8slgnat8d h8dglng relallonshlp. Financial assets that ar8 m8asured at cost or amortised cost are revlew8d lor objectlve evld8nce of impaimi8nl al the 8nd ol each reportlng date. It there is obj8ct1v8 evidenc8 of impalrment, an impairment loss is rec¢)gnised under the approprlate heading In thè statement ol tlnancial actlvi1185 in whlch the Inllial galn was r8cognls8d. For all equlty instruments regardless of slgnillcance, and oihgr financial as88ts that ar8 Indlvfdually signllSoanl. these are assessed IndlvSdually lor Impalrmant. Other financial assèts are either assessed Indlvldually or grouped on the basis of slmilar credll risk characlerislics. Any reversals of Impalrment are recognised immedia181y, lo the extent that the r8varsal does not r8suII in a carrying amount ol the financial asset that 8xceeds what thè carrwng amount would have bgen had th8 impairm8nt not prevlously boon racognlsed. 0Ined contrlbutlon plans Contrtbutlons to dellned contribullon plans are recognised as an expen98 In tha period In which the related service is provided. Prepaid contributions are rectsanised as an asset lo the extent that tho prepayment will lead to a reduction in future payments or a cash refund. When conlributSons are not expected lo be settled wholty wlthln 12 months of the end ol the reporting date in whlch the employees render the related s8rvlc8, the Ilablllly Is measured on a dlscounled pr8s8nt value basls. The unwndlro of the discount Is recoonised as an expense In Ihe period in which il arises. Llmlted by guar8nleo The charitabl8 company, not having a share capital, Is limlled by guarant88. Each members, liability is limited to an amount not exce8ding £1 in the event ol the company being wound up. 17
Readipop Llmlted Company Limited by Guarantee Notes to the Financial statements (cOrtth) Year ended 31 March 2021 Donaiions and legacies UnreStrted Funds Restricted Total Funds Funds 2021 Donatlons Donations 640 Grants Grants recèivabl 223,235 223,875 253,455 253,455 476,690 477,330 Unrastricled Funds Restrlcted Total Fund9 Funds 2020 Don•tSon8 Donallons 26,780 26,780 Grant8 Grants receivable 145,143 171,923 38,968 38,968 184,111 210,891 Charltable actlvltlo• Unrestrlcted Totsl Fund• Unr8slrlc18d Total Funds Funds 2021 Funds 2020 Workshops and pertormanc8 R8adlpop F&stlval Hlre of Sludlo 6,790 6,790 42,241 129,025 16,065 42,241 129,025 18,065 4,895 4,895 11,685 11,685 187,331 187,331 Inv081mont Incomo Unreslrlcted Total Fund8 Unreslrlcled Total Funds Funds 2021 Funds 2020 Interest received 24 24 Oth8r Incom8 Unr8slricled Total Fund¥ Unrestricted Total Funds Funds 2021 Funds 2020 Other income 53 53 2,106 2,106 18
Readipop Limited Company Limited by Guarantee Notes to the Flnanclal Statem8nlS (eonllnued) Year ended 31 March 2021 Co818 ol othor tradlng o¢tlvltle6 Unrèstrictèd Tolal Funds Unrestricted Total Funds Fundg 2021 Funds 2020 Costs of other trading aclivili 2,765 2,765 10. Expendlluie on charltable actlvltl•8 by lund ty Unreslricled Funds Restricted Total Fund• Funds 2021 Charitable actlvitl8S Support costs 187,877 15.289 122,692 290,569 15,289 183,166 122,692 305,858 Unrestricted Fun(ts Restrlcled Total Funds Funds 2020 Charitable aclivitle8 Support costs 349,828 8,523 26,199 2,120 376,027 10,643 358,351 28,319 386,670 11. Expondlturo on chorltoblo actlvltle8 by 8cllvlty typo Activitles undertaken directly Support costs Total lund8 2021 Total fund 2020 Charitable acilv+ties Gov8rnan¢8 costs 290,569 290.569 15,289 305,858 376,027 10,643 386,670 15,289 15,289 290,569 12. Nèt incoma Net incom8 Is stated after charglnWlcredOtlngl: 2021 2020 Depreclation ol tanolble flxed assets 4,937 3,681 13. Indepondant oxamlnatlon I8 2021 2020 Fees payable to the Independent examlner for-. Independent examlnallon of Ihe Ilnancial slaiemants 1,500 1,440 19
Readipop Limited Company Llmited by Guarantee Notes to the Flnancial Slatements (eonllnued) Year ended 31 March 2021 14. Stall ¢081$ The average head count of employees during the y8ar was 412020.. 51. The average number ol tull-t1rn8 equivalent employees duriro the year is analysed as follows: 2021 2020 No. Adminstratlon staff No 8mployee received employe8 ben811is of more than £60,000 durlng the year12020'. Nill. 13. Truste• remunerallon and expgn3eS There were no trusteès. expens8s paid for the year eThJed 31 March 2021 nor for the year ended 31 March 2020. 16. Tanglblo flxed a8gOts Freehold propety Equiprnent Total Coll Al 1 April 2020 Aodltlons Disposals Al 31 March 2021 52,899 7,131 17781 59,252 52,899 272,131 17781 324,252 265,000 265,000 Depreclailon Al 1 Aprll 2020 Charge lor the year Dlsposals 31 Morch 2021 45,570 4,937 14451 50,062 45,570 4,937 14451 50,062 Carrylng amounl Al 31 March 2021 265,000 9,190 7,329 274,190 7,329 At 31 March 2020 17. Debtorn 2020 Trade debtors Prepayments and accrued incomg Other debtors 2,215 41,744 12,903 56,862 4,741 9,500 14,241
Readipop Limited Company Llmiied by Guarantee Notes to the Financlal Statements (¢onWni*d) Year ended 31 March 2021 18. Crnditor•: amounls falllng duo within one year 2021 2020 Bank loans and overdrafts Trade credf(or8 Accruals and delerred income Soclal security and other taxes Other ci8dilors 10,653 58,457 34,384 2,410 3,491 13.949 44,644 4.924 676 109,550 67,684 19. Cred11018'. amounts falllng du• altèr mor• than onè yr 2021 2020 Bank loans and ov8rdraft8 118,587 Durlng the year th8 Charity 8nlered inlo a loan for £80,000 r8payable ovér 60 months al an Interest rale o17Vo per annum. The Chartty also look a bounce-back loan of £50,000 from HSBC bank. 20. Pen81oni •nd olhor po•1 r•tlremenl benollt8 D•lln•d contrlbutlon plans Th8 amount recognised In Income or expendlture as an expense In rélatlon to dellned conlribullon plans was £2,18912020: £1,873) 21. Analys18 ol ¢h•rltabl• fund• Unrestrlclod lund8 At 1 April 2020 31 March 202 Income Expendliur8 General funds 2,107 235,637 1183.1661 54,578 At 31 March 202 Al 1 April 2019 Income Expendlture Gen8ral funds 1.863 381,360 1361,1161 2,107 21
Readipop Limlted Company Limited by Guarantee Notes lo Ihe Financial Ststements (coniinued) Year ended 31 March 2021 21. Analy$is of charltablo fund8 (willniwd) Re8trlcted lund8 At 31 March 202 At 1 Aprll 2020 Income Expendllure Youtli Music Arts Council England National Lottery Earley Founclallon Garfield Weston CRF ACE- Record Box 2,825 29,848 17,3601 25,313 7,OC 17,0001 110,657} 80,000 25,000 95,000 23,607 69,343 25.000 195,0001 12,6751 1122,6921 20,932 9,825 253,455 140,588 Al 31 Mah 202 Ai 1 Aprll 2019 Incom8 Expendlture Youth MusSc Arts Council ErrfJland Nallonal Lottery Earley Foundation Garfield Weston CRF ACE . Record Box {8411 17 29,848 126,1821 1171 12,1201 2,825 9,120 7,000 {824} 38,968 128,3191 9.825 Tho Charity had a number ol reslricl8d funds operating during the year. Th8 prlmary purpose for the funding is shown below.. Youth Muglc AAA programme to Feb 2022. N8llonal Lotlery Flel¢xation lo Trafford Road Earl&y Charlty Purchase ot Tralford Road Garfl•ld Weston PuTchas8 ol Trafford Road CRF Coronavirus Recovèry Fund to suslaln Aeadipop Festival ACE Flecord Box project to develop Riser muslc label 2021-22
Readipop Limited Company Limited by Guarantse Notes to the Flnanclal Statements {coniinii•d) Year ended 31 March 2021 22. Analy818 ol net a8s8ls between funds Unreslrlct8d Funds Restrict8d Tolal Fund• Funds 2021 Tangibl8 Ilxed assets Current agsets Credltors lass than 1 year No188•ets 273,846 8,869 1228,1371 54,578 344 140,244 274,190 149.113 1228.1371 195,166 140,588 Unrestricted Funds Restricted Total Funds Funds 2020 Tangible fixed assets Current assets Creditors less than 1 year 6,741 63,050 167,6841 2,107 58B 9,237 7,329 72,287 167,6841 11,932 9,825 23