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2021-06-30-accounts

Emu Music Ltd

(A company limited by guarantee)

Report and Financial Statements

Year ending 30th June, 2021 Charity number 1124923 Company number: 6500315

Address: 2 Roger Bacon Lane, Oxford, OX1 1QE Trustees: Philip Percival, Robert Smith, Emu Music Australia Inc.

Emu Music: Our purposes and activities

The purposes of the charity are: To advance the Christian religion in the United

Kingdom for the benefit of the public through the holding of Worship Services,

lectures, production and distribution of Christian literature and music, and to

enlighten others about the Christian religion.

In shaping our objectives for the year and planning our activities, the trustees have considered the Charity Commission’s guidance on public benefit, including the guidance on public benefit and fee charging. Emu Music relies on donations, grants

and the income from conference fees and sale of sheet music and audio resources to

cover its operating costs. In setting the level of conference fees, the trustees give

careful consideration to the accessibility of those events to those on low incomes

and to enable access by other charitable organisations.

The strategies employed to achieve the charity’s aims and objectives are to:

• present a series of conferences around the UK for the training of church

musicians;

• offer opportunities for musicians, composers, sound operators to develop the exercise of their creative gifts through workshops and lectures;

• provide resources at low or no cost to religious organisations and individuals

to enable vibrant contemporary corporate worship, and to help

encourage a

culture in which different age ranges and musical skills play a significant role in

corporate worship.

In the past year, we limited in the number of events we could hold due to Covid restrictions. None the less, we held and contributed to regional church music ministry

conferences across the UK. Each event combined hands-on training in church musicianship, musical leadership and song writing.

The following year we expect that we will be able to provide similar events across the UK and Europe.

In this year we produced one new music album of hymns, and distributed sheet music and audio of new worship material from Emu Music.

The following year will see us create and produce one further album: one aimed at general congregational singing.

Financial Review

Reserves are needed to bridge the gap between the spending and receiving of resources and to cover unplanned emergency costs and other expenditure. The trustees consider that the ideal level of reserves as at 30th June would be £10,000.

It is our aim to reduce excess CD stock in the following year and will continue to look to resetting conference fees at a level which better reflects our conference costs whilst balancing affordability for low income and other charitable groups. Furthermore, we are working on growing a network of donors, (from individuals and organisations who have benefitted from Emu’s activities) to ensure larger profits.

Structure, Governance and Management

Governing Document

Emu Music Ltd is a company limited by guarantee governed by its Memorandum and Articles of Association dated 11 February, 2008. It is registered as a charity with the Charity Commission.

Appointment of trustees

As set out in the Articles of Association the chair of the trustees is elected by the other trustees. Three trustees are elected annually by the members of the charitable

company attending the Annual General Meeting and serve for a period of one year.

All members are circulated with invitations to nominate trustees prior to the AGM advising them of the retiring trustees and requesting nominations for the AGM.

When considering co-opting trustees, the Board has regard to the requirement for

any specialist skills needed; in particular: finance, theology, church music, business

and marketing.

Organisation The board of trustees, which must have minimum of 3 members, administers the charity. The board meets quarterly and sets direction on project and organizational development, membership, and finance. An Executive Director is appointed by the trustees to manage the day-to-day operations of the charity. To facilitate effective operations, the Executive Director has delegated authority, within terms of delegation approved by the trustees, for operational matters including finance, employment and artistic and theological content of resources and events. We have a

small but dedicated team of volunteers at each event location who enable the

smooth running of events.

Emu Music Ltd Emu Music Ltd Charity No
Annual accounts for the period
(if any)		 1124923
Period start date 01/072020 To 6/30/2021
Section A Statement of fnancial activities
Restricted
Descriptions by natural
category		 Note Unrestricte
d funds		 income
funds		 Endowment
funds		 Total this
year
£ £ £ £
Incoming resources (Note 3) F01 F02 F03 F04
Sale of resources 2,117 - - 2,117
Royalties 10,676 - - 10,676
Donations 10,560 - - 10,560
Events/Training 12,126 - - 12,126
Government Grants 45,710 - - 45,710
- - - -
- - - -
- - - -
- - - -
- - - -
Total incoming resources S01 -
81,189		 -
-		 -
-		 -
81,189
Resources expended (Notes 4-7)
Cost Of Sales 2,337 - - 2,337
Salaries
Administrative		 74,602 - - 74,602
Costs 18,288 - - 18,288
Events/Training 691 - - 691
- - - -
- - - -
- - - -
- - - -
- - - -
- - - -
- - - -
- - - -
- - - -
Total resources expended S02 -
95,920		 -
-		 -
-		 -
95,920
Net incoming/(outgoing) resources before
transfers S03 - 14,731 - - - 14,731
Gross transfers between funds S04 - - - -
Net incoming/(outgoing) resources before other
recognised gains/(losses) S05 - 14,731 - - - 14,731
Other recognised gains/(losses)
Gains and losses on revaluation of fxed assets for the
charity’s own use S06 - - - -
Gains and losses on investment assets S07 - - - -
Net movement in funds S08 - 14,731 - - - 14,731
Total funds brought forward S09 - - - -

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Total funds carried forward S10 - 14,731 - - - 14,731

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CC39a
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Total last year £ F05 - 2,890 7,485 19,640 6,408 11,846 - - - - - - 42,489 1,036 26,437 7198.32 5038.77 - - - - - - - - - - 39,710 2,779 - 2,779

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2.779 CC17a (Excell 0413012022

Section B Balance sheet

Section B Balance sheet Section B Balance sheet Section B Balance sheet
Note
Total this year
Total last year
£
£
Fixed assets
F01
F02
Tangible assets (Note 8)
B01
2,454 3,908
B02
- -
Investments (Note 9)
B03
- -
Total fxed assets
B04
2,454 3,908
Current assets
Stock and work in progress
B05
7,228 8,255
Debtors (Note 10)
B06
7,406 6,641
(Short term) investments
B07
- -
Cash at bank and in hand
B08
5,267 6,494
Total current assets
B09
19,901 21,391
B10
18,848 21,722
Net current assets/(liabilities)
B11
1,053 - 331
Total assets less current liabilities
B12
3,507 3,577
B13
12,979 - 1,681
Provisions for liabilities and charges
B14
- -
Net assets
B15
- 9,472 5,258
Funds of the Charity
Unrestricted funds
B16
- 9,472 5,258
Designated funds
B17
- -
Total unrestricted funds
- 9,472 5,258
B18
- -
B19
- -
Total funds
B20
- 9,472 5,258
Signature
Date of approval
Philip Percival
12/1/2021
Creditors: amounts falling due within one
year (Note 11)
Creditors: amounts falling due after one
year (Note 11)
Restricted income funds (Note 12)
Endowment funds(Note 12)
Signed by one or two trustees on behalf of all the
trustees
Signature
Date of approval
Philip Percival 12/1/2021

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Section C Notes to the a

Note 1 Basis of preparation

This section should be completed by all charities .

1.1 Basis of accounting

These accounts have been prepared on the basis of historic co value) in accordance with:

• and with* ü Accounting Standards; or Financial Reporting Standards for

Give details in this box if a different standard has been

** - If no departures from the chosen standards have been made the in the boxes.

1.2 Change in basis of accounting

There has been no change to the accounting policies (valuatio except for the following).

Give details in this box of any material changes that ha

1.3 Changes to previous accounts

No changes have been made to accounts for previous years (§

Give details in this box of any material changes that ha

§§ if no changes have been made to accounts for previous periods th

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ccounts

ost (except that investments are shown at market

mmended Practice (SORP 2005);

Smaller Enterprises (FRSSE);

n followed.

then please tick “Accounting Standards”;

ted to those required by the FRSSE, then please tick

n delete these words; otherwise give details of any changes

n rules and methods of accounting) since last year (§

ave been made.

hese words.

§§ except for the following).

ave been made.

hen delete these words.

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Section C Notes to the accounts (co

Note 2 Accounting policies

This standard list of accounting policies has been applied by the charity except for those deleted. Where a different or additional policy has been adopted then this is detailed in the box below.

Note 2 Accounting policies
This standard list of accounting policies has been applied by the charity except for those deleted. Where a
diferent or additional policy has been adopted then this is detailed in the box below.		 Note 2 Accounting policies
This standard list of accounting policies has been applied by the charity except for those deleted. Where a
diferent or additional policy has been adopted then this is detailed in the box below.
INCOMING RESOURCES
Recognition of incoming These are included in the Statement of Financial Activities (SoFA) when:
resources · the charity becomes entitled to the resources;
· the trustees are virtually certain they will receive the resources; and
· the monetary value can be measured with sufcient reliability.
Incoming resources with Where incoming resources have related expenditure (as with fundraising or contract income)
related expenditure the incoming resources and related expenditure are reported gross in the SoFA.
Grants and donations Grants and donations are only included in the SoFA when the charity has unconditional
entitlement to the resources.
Tax reclaims on donations Incoming resources from tax reclaims are included in the SoFA at the same time as the gift to
and gifts which they relate.
Contractual income and This is only included in the SoFA once the related goods or services have been delivered.
performance related grants
Gifts in kind Gifts in kind are accounted for at a reasonable estimate of their value to the charity or the
amount actually realised.
Gifts in kind for sale or distribution are included in the accounts as gifts only when sold or
distributed by the charity.
Gifts in kind for use by the charity are included in the SoFA as incoming resources when
receivable.
Donated services and These are only included in incoming resources (with an equivalent amount in resources
facilities expended) where the beneft to the charity is reasonably quantifable, measurable and material_._
The value placed on these resources is the estimated value to the charity of the service or
facility received.
Volunteer help The value of any voluntary help received is not included in the accounts but is described in the
trustees’ annual report.
Investment income This is included in the accounts when receivable.
Investment gains and losses This includes any gain or loss on the sale of investments and any gain or loss resulting from
revaluing investments to market value at the end of the year.
EXPENDITURE AND LIABILITIES
Liability recognition Liabilities are recognised as soon as there is a legal or constructive obligation committing the
charity to pay out resources.
Grants with performance Where the charity gives a grant with conditions for its payment being a specifc level of service
conditions or output to be provided, such grants are only recognised in the SoFA once the recipient of the
grant has provided the specifed service or output.
Grants payable without These are only recognised in the accounts when a commitment has been made and there are
performance conditions no conditions to be met relating to the grant which remain in the control of the charity.
ASSETS
Tangible fxed assets for use
These are capitalised if they can be used for more than one year, and cost at least £500. They
by charity are valued at cost or a reasonable value on receipt.
Investments Investments quoted on a recognised stock exchange are valued at market value at the year
end. Other investment assets are included at trustees' best estimate of market value.
Stocks and work in progress
POLICIES ADOPTED
ADDITIONAL TO OR
DIFFERENT FROM THOSE
ABOVE		 These are valued at the lower of cost or market value.

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Section C Notes to the accounts

Note 3 Analysis of incoming resources

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Incoming resources may be further analysed if this would help the reader of the accoun
Unrestricted restricted
Analysis £ £
Donations Donations and gifts 10,560
and legacies: General grants provided by government/other
charities 45,710
Membership subscriptions and sponsorships which
are in substance donations
Other
Total 56,270
Charitable CD, digial songs and sheet music sales 2,117
activities: Conferences and training events 12,126
Total 14,243
fees for Royalties 10,676
charitable
services
Total 10,676
Total
Total
Total
Total
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(cont)

nts.

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This year Last year
£ £
- 19,640
11,845.75
-
- -
- -
- 31,486
- -2890.09
- 6408.12
- -
- -
- 3,518
- 7484.51
- -
- -
- -
- 7,485
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
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Section C Notes to the accounts

Note 4 Analysis of resources expended Resources expended may be further analysed if this would help the reader of the accounts.

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Unrestricted restricted This year
Analysis £ £ £
Expenditure Resource production and 2,337 -
on charitable Cost of conferences, inc
activities travel 691 -
Administrative Costs 18,288 -
-
-
-
-
-
Total 21,317 -
Wages,
salaries,
pensions and -
NI
74,602 -
-
-
-
-
-
-
Total 74,602 -
-
-
-
-
-
-
-
-
Total -
-
-
-
-
-
-
-
-
Total -
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(cont)

Last year £ 1035.96 5038.77 7198.32 - - - - - 13,273 - 26436.57 - - - - - - 26,437 - - - - - - - - - - - - - - - - - -

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Section C Notes to the accounts

Note 5 Details of certain items of expenditure

5.1 Trustee expenses

Please provide details of the amount of any payment or reimbursement of out-of-pocket expenses made to trustees or to third parties for expenses incurred by trustees. If no expenses were paid, please enter ‘None’ in the appropriate box(es).

Number of trustees who were paid expenses Nature of the expenses Total amount paid

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This year Last year
£ £
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5.2 Fees for examination or audit of the accounts

Please provide details of the amount paid for any statutory external scrutiny of accounts and other services provided by your independent examiner or auditor. If nothing was paid please enter NONE in the appropriate box(es).

Independent examiner’s or auditors' fees for reporting on the accounts Other fees (for example: advice, consultancy, accountancy services) paid to the independent examiner or auditor

This year
£		 Last year
£

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Section C Notes to the accounts

Note 6 Paid employees Please complete this note if the charity has any employees.

6.1 Staff Costs

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|||| |---|---|---| |This year|Last year| |£|£| |Gross wages, salaries and benefits in kind|64,601.64|27,023| |Employer’s National Insurance costs|3,350.38|- 1,965| |Pension costs|2,055.15|1,379| |- -| |Total staff costs|70,007 26,437| |6.2 Average number of full-time equivalent employees in the|This year|Last year| |year|Number|Number| |The parts of the charity in which the|3 2| |employees work|- -| |- -| |- -| |Total|3 2|

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6.3 Defined contribution pension scheme

Please complete if a defined contribution pension scheme is operated. Brief details of the scheme

The costs of the scheme to the charity for the year The amount of any contributions outstanding at the year end The amount of any contributions prepaid at the year end

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||| |---|---| |This year|Last year| |£|£|

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Section C Notes to the accounts

Note7 Grantmaking

Please complete this note if the charity made any grants or donations which in aggre material part of the charitable activities undertaken.

7.1 Total value of grants

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Grants to
institutions
Purpose for which grants made Total amount
£
-
-
-
-
-
-
Total -
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7.2Grants made to institutions

If the charity has made grants to particular institutions that are material in the conte grantmaking please give details of the institution supported, purpose of the grant an each institution listed. Sufficient information should be given to provide a reasonabl of the range of institutions supported.

Names of institutions Purpose

Total grants to institutions

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egate form a

Grants to individuals Total amount £ - - - - - - -

ext of its nd total paid to le understanding

Total amount of grants paid £ - - - - - - - - - -

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Section C Notes to the accounts

Note8 Tangible fixed assets Please complete this note if the charity has any tangible fixed assets

8.1 Cost or valuation

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Freehold land Other land & Plant, Fixtures, Payments on Total
& buildings buildings machinery fittings and account and
and motor equipment assets under
vehicles construction
£ £ £ £ £ £
Balance brought - - - 3,908 - 3,908
forward
Additions - - - - - -
Revaluations - - - - 1,454 - 1,454
Disposals - - - - - -
Transfers * - - - - - -
Balance carried - - - 2,454 - 2,454
forward
8.2 Accumulated depreciation and impairment provisions
Basis SL or RB SL or RB SL or RB SL or RB SL or RB
 Rate
Balance brought - - - - - -
forward
Depreciation charge - - - - - -
for year
Impairment provisions - - - - - -
Revaluations - - - - - -
Disposals - - - - - -
Transfers - - - - - -
Balance carried - - - - - -
forward
8.3 Net book value
Brought forward - - - 3,908 - 3,908
Carried forward - - - 2,454 - 2,454
8.4 Revaluation
If any fixed assets have been revalued please give details of the valuer and method of valuation
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* The "transfers" row is for movements between fixed asset categories.

** Please indicate the method of depreciation by deleting the method not applicable (SL = straight line; RB = reducing balance). Also please indicate the rate of depreciation: for straight line, what is the anticipated life of the asset (in years); for reducing balance, what is the percentage annual deduction.

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Section C Notes to the accounts

Note 9 Investment assets

Please complete this note if the charity has any investment assets.

9.1 Fixed assets investments

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|||| |---|---|---| |£| |Carrying (market) value at beginning of year|-| |Add:|additions to investments at cost|-| |Less:|disposals at carrying value|-| |Add/(deduct):|net gain/(loss) on revaluation|-| |Carrying (market) value at end of year|-|

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Please provide below:

9.2 A breakdown of the market values of investments shown above agreeing with the b row B03.

9.3 A breakdown of the income from investments agreeing with SOFA.

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||| |---|---| |Analysis of investments|9.2| |Market value| |at year end| |£| |Investment properties|-| |Investments listed on a recognised stock exchange or held in common|-| |investment funds, open ended investment companies, unit trusts or other| |collective investment schemes| |Investments in subsidiary or connected undertakings and companies|-| |Securities not listed on a recognised Stock Exchange|-| |Cash held as part of the investment portfolio|-| |Other investments| |-| |Total|-|

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9.4 Material investment holdings

If any investments are material in terms of their value (for example each represents more cent of the value of the charity’s total investments) please provide details.

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Market value
at year end
Investment held £
-
-
-
-
Total -
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(c

balance sheet

----- Start of picture text -----
9.3
Income from
investments
for the year
£
-
-
-
-
-
-
-
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than 5 per

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Section C Notes to the accounts (co

Note 10 Debtors and prepayments

Please complete this note if the charity has any debtors or prepayments.

Analysis of debtors
Trade debtors
Other debtors
Prepayments and accrued income
Total
Amounts due from subsidiary and associated
undertakings		 Amounts falling due
within one year		 Amounts falling due
within one year		 Amounts falling due
after more than one year		 Amounts falling due
after more than one year
This year
£		 Last year
£		 This year
£		 Last year
£
7,406.1 6,641.5 - -
- - - -
- - - -
- - - -
7,406.1 6,641.5 - -

Note 11 Creditors and accruals

Please complete this note if the charity has any creditors or accruals. 11.1 Analysis of creditors

Loans and overdrafts
Trade creditors
Other creditors
Accruals and deferred income
Total
Amounts due to subsidiary and associated
undertakings		 Amounts falling due
within one year		 Amounts falling due
within one year		 Amounts falling due
after more than one year		 Amounts falling due
after more than one year
This year
£		 Last year
£		 This year
£		 Last year
£
- - - -
13,470 21,241 12,979 - 1,681
- - - -
- - - -
- - - -
13,470 21,241 12,979 - 1,681

11.2 Security over assets

If any loan, overdraft or other creditor holds a charge or other security over any assets of the charity please provide details.

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ntl CC17a IExcell 21 0413012022

Section C Notes to the accounts

Note 12 Endowment and restricted income funds

Please complete this section if the charity has any endowment or restricted income funds.

12.1 Funds held

Please give a brief description of any of the following type of funds held by the charity:

Type PE, EE , Fund Name R or other Purpose and restrictions

12.2 Movements of major funds

Please give details of the movements of the major funds summarised in the restricted and endowment columns of the Statement of Financial Activities.

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Fund Fund
balances balances
brought Incoming Resources Gains and carried
forward resources expended Transfers losses forward
Fund names £ £ £ £ £ £
- - - - - -
- - - - - -
- - - - - -
- - - - - -
- - - - - -
- - - - - -
Total Funds - - - - - -
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12.3 Transfers between funds

Please give details of any transfers between funds.

From Fund (Name) To Fund (Name) Reason Amount

12.4 Analysis of net assets between funds

Fixed assets
Investments
Net current assets
Total net assets
Creditors due in more
than one year and
provisions		 £
Unrestricted
funds		 £
Restricted
funds		 £
Endowed
funds		 Total
£
- - - -
- - - -
- - - -
- - - -

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Section C Notes to the accounts

Note 13 Transactions with related parties

If the charity has any transactions with related parties (other than the trustee expenses note 5) details of such transactions should be provided in this note. If there are no trans report, please enter “None” in the relevant boxes.

13.1 Remuneration and benefits

Please give the amount of, and legal authority for, any remuneration or other benefits pa or other related parties by the charity or any institution or company connected with it.

Name of trustee or related party Legal authority (eg order,
governing document)		 Amounts paid o
This year
£

13.2 Loans

Please give details of and amounts owing to or from the charity’s trustees or other relate the charity at the year end.

Due to trustees and
related parties
Due from trustees
and related parties		 Name of trustee or
related party		 Legal authority Amoun
This year
£

13.3 Other transaction(s) with trustees or related parties

Please give details of any transaction undertaken by (or on behalf of) the charity in whic related party has a material interest.

Name of the trustee
or related party		 Relationship to
charity		 Description of the
transaction(s)		 This year
£

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(co

s explained in sactions to

aid to a trustee

----- Start of picture text -----
or benefit value
Last year
£
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ed parties by

t owing Last year £

ch a trustee or

Last year £

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ote 14 Additional Disclosures

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Income categories

Donations, legacies and Grants Fundraising events Shop sales Interest and dividends fees for charitable services Grants for services

Expenditure categories

Wages, salaries, pensions and NI Cost of fundraising events Rent, rates and Insurance Repairs and maintenance Light and heat telephone postage and stationery Donations and Grants legal and professional fees bank charges and interest depreciation Insurance

To edit the lists replace existing categories on either list with the new headings you prefer to use.

Independent Examiner's Report to the Trustees of Emu Music Ltd

I report to the charity trustees on my examination of the accounts of the charitable company for the year ended 30 June 2021.

Responsibilities and basis of the report

As the charity trustees of the charitable company (and also its directors for the purposes of company law), you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 (‘the 2006 Act’).

Having satisfied myself that the accounts of the charitable company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your company’s accounts as carried out under section 145 of the Charities Act 2011 (‘the 2011 Act’). In carrying out my examination, I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.

Independent examiner's statement

I have completed my examination. I confirm that no material matters have come to my attention which gives me cause to believe that:

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

Mike Warriner

86 Warwick Park Tunbridge Wells Kent TN2 5EN

30 April 2022