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2021-07-31-accounts

REGISTERED COMPANY NUMBER: 06274330 (England and Wales) REGISTERED CHARITY NUMBER: 1125303

REPORT OF THE TRUSTEES AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST JULY 2021 FOR

MUSIC AND ARTS PRODUCTION LEEDS

Thomas Coombs Limited Chartered Accountants 3365 The Pentagon Century Way Thorpe Park Leeds West Yorkshire LS15 8ZB

MUSIC AND ARTS PRODUCTION LEEDS

CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST JULY 2021

Page
Reference and Administrative Details 1
Report of the Trustees 2 to 5
Independent Examiner's Report 6
Statement of Financial Activities 7
Balance Sheet 8 to 9
Cash flow statement 10 to 11
Notes to the Financial Statements 12 to 19
Detailed Statement of Financial Activities 20 to 21

MUSIC AND ARTS PRODUCTION LEEDS

REFERENCE AND ADMINISTRATIVE DETAILS FOR THE YEAR ENDED 31ST JULY 2021

TRUSTEES C Madden (resigned 10/10/2020)
O Hope
M Greenwell (resigned 31/12/2021)
S Hassan
J Gill
M Mookerjee
C Oliver
G Yates
C Havers (resigned 21/4/21)
L Lloyd-Henry
D Mischendahl
G Rosenberg
I Gudelis
COMPANY SECRETARY T Smith
REGISTERED OFFICE Music and Arts Production Leeds
Hope House
65 Mabgate
Leeds
West Yorkshire
LS97DR
REGISTERED COMPANY NUMBER 06274330 (England and Wales)
REGISTERED CHARITY NUMBER 1125303
INDEPENDENT EXAMINER Thomas Coombs Limited
Chartered Accountants
3365 The Pentagon
Century Way
Thorpe Park
Leeds
West Yorkshire
LS15 8ZB
BANKERS The Co-operative bank
PO Box 250
Skelmersdale
WN8 6WT
KEY MANAGEMENT PERSONNEL Tom Smith
Charlotte Stobbart
Tom Edney
Kirsten Cree

Page 1

MUSIC AND ARTS PRODUCTION LEEDS

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST JULY 2021

The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31st July 2021. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).

OBJECTIVES AND ACTIVITIES Objectives and aims Objectives

1) The advancement of education in the arts and music.

2) The promotion of racial harmony and diversity through the medium of arts for the public benefit by promoting activities to foster knowledge and understanding between people of different racial groups and diverse backgrounds.

3) The promotion of equality and diversity for the public benefit by (for example): (a) the elimination of discrimination on the grounds of race, gender, disability, sexual orientation, or religion; (b) advancing education and raising awareness in equality and diversity; (c) promoting activities to foster understanding between people from diverse backgrounds; (e) cultivating a sentiment in favour of equality and diversity.

In furtherance of these objects MAP has established an arts centre called MAP situated at Hope House, 65 Mabgate, Leeds. MAP is comprised of arts and music studios for education sessions and an adjoining space called Hope House Gallery that is suitable for exhibitions, workshops & performance.

MAP arts centre provides a school alternative provision programme offering arts and music education courses to young people who have difficulty in accessing mainstream school education. MAP also provides after-school arts sessions and maintains a volunteer programme.

Hope House Gallery is host to arts exhibitions and events: the work presented ranges from that of young people at school to college and university students, through to professional artists.

Aims

Activities and strategy

The aims are addressed by a series of activities designed to achieve specific results. Targets will be set by the management in line with activity experienced during the previous year and will take into account any proposed expansion, which will be approved by the trustees.

Page 2

MUSIC AND ARTS PRODUCTION LEEDS

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST JULY 2021

ACHIEVEMENT AND PERFORMANCE Charitable activities

2020-21:

----- Start of picture text -----
Schools education 25 participants 2114 hours used
47.5% attendance 95.5% achievement
Work experience 1 participant 48 hours
Education Volunteers 7 participants 375 hours
Events & Exhibitions 4 events 57 artists/participants
19.5 Opening hours 600 viewers
----- End of picture text -----

The attendance figure for the year could not be measured in the same way due to pandemic restrictions. The achievement levels exceed previous years' performance as MAP was able to carry out a special pandemic accreditation process with Edexcel BTEC, underpinned by our long standing relationship. The education programme has maintained its reputation amongst students, families/carers, supporting professionals and staff at schools, and the introduction of remote learning, online learning and emergency pandemic workshops for MAP's most vulnerable students.

The pandemic has meant that few new education referrals have been put in place throughout the period, and the income for 2020-21 will be lower than in 2019-20 by approximately £10,000, and £40,000 lower than the pre pandemic year of 2018-2019. The number of referrals in place for the start of the 2021-22 academic year is reasonably encouraging and suggests a recovery to pre pandemic levels of referrals.

In October 2019 MAP Charity purchased Hope Foundry for £1,075,000. This was done using a loan for the full amount, at 4% interest. This is planned to be refinanced in 2023 after the refurbishment of 1000m2 (50%) of the building to provide affordable work space.

This refurbishment is funded with £448,756 from the ERDF, alongside a £100,000 contribution from MAP.

Interest payments on the social investment loan (£1,075,000 in total) are 4% (£43,000) per annum, which is affordable because of MAP's income streams and other existing tenancies within the building.

The ability to run events to fund-raise has been extremely limited throughout the period of the pandemic covered in these accounts, and MAP has increased fundraising efforts in order to get support from emergency grants and funds.

FINANCIAL REVIEW

Performance in year

In 2020-21 the number of referrals from schools was lower than the level seen in the previous pandemic year 2019-20, and lower than the previous non pandemic years, this is due to the fact that schools stopped referring new students to MAP Education due to uncertainty. This resulted in a reduction of 10% from the education program when compared with the previous year.

The fund-raising events that MAP carries out came to a halt at the start of the pandemic, meaning that income from events was reduced from £41,977 to zero.

The total income from grants and donations throughout the 2020-21 year was increased by over 800% from the 2019-20 year, from £95,381 to £775,378. £676,505 of this figure was restricted as split out page 18 of the accounts.

Reserves Policy

It is the policy of the charity that it should work towards a position where reserves should be maintained at a level sufficient to sustain the operation of the charity for four months, the target being £100,000. Looking to the future the plan is to extend the target to 6 months of running costs such that the target is increased to £150,000.

Free reserves at 31[st] July 2021 stood at £222,217 (£172,649 at 31[st] July 2020) and restricted reserves at £558,628 (and of this restricted amount £548,756 can only be spent on the capital project). This is the above the target figure however given the additional uncertainties associated with a major property refurbishment and related funding the Trustees do not feel additional action is required with regard to this excess.

Page 3

MUSIC AND ARTS PRODUCTION LEEDS

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST JULY 2021

Future plans

The refurbishment of the workspace on the top two floors of Hope foundry throughout 2022 will enable MAP Charity to support creative industries and maintain the financial sustainability of the site. In 2021-22 MAP Education will return to pre pandemic levels of activity, and sustain the current creative and functional skills programme. In 2021-22 MAP also aims to restore its fund-raising events, and the development team will continue improving MAP's other income generating activities and fund raising programme.

STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document

The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.

Nature of Governing Document

Music And Arts Production Leeds is a private registered charitable company limited by guarantee, with no share capital, incorporated on 8[th] June 2007 and governed by its Memorandum and Articles of Association.

Each member undertakes to pay an amount not exceeding £10 towards liabilities in the event of the charity being dissolved.

Management

The policy and general management of the affairs of MAP are directed by the Trustees, one third of whom retire each year by rotation, but are eligible for re-election.

The day-to-day management of MAP is carried out by the managers, Tom Smith, Charlotte Stobbart, Tom Edney and Kirsten Cree.

The trustees affirm and maintain their commitment to Child Protection, Health and Safety, Anti-Bullying policies and Equal Opportunities policies. Details of the policies in force can be found in the MAP Trustees Handbook.

Recruitment, appointment and training of trustees

Trustees are appointed with a view to diversity, sound experience in a related field or professional expertise in a relevant area.

Such candidates are given first-hand experience of the work of MAP and are invited to a Trustees' meeting. Appointment is then conditional on the approval of the Trustees generally.

Trustees have fully documented Job Descriptions and these are to be found in the MAP Trustee Handbook.

All new trustees are trained as appropriate and all existing trustees receive updates from the Charities Commission.

Key management remuneration

The trustees consider the Managing Directors and Development Manager as comprising the key management personnel of the charity in charge of directing and controlling the charity and running and operating the charity on a day to day basis. All trustees give of their time freely and no trustee remuneration was paid in the year. Details of trustee expenses and related party transactions are disclosed in note 9 and 18 to the accounts.

Governance

MAP formally supports the principles of the Code of Good Governance as developed by The Governance Hub.

Risk Policy

Trustees place a high priority on risk management. Risks identified are categorised as follows:

It is the policy of the trustees to review all risks on an annual basis. The annual revie w seeks to establish that all risks are documented and that steps to mitigate such risks are established and executed. As a result of this process, the trustees are satisfied that residual risks are minimised.

Page 4

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST JULY 2021

MUSIC AND ARTS PRODUCTION LEEDS

Public Benefit

The Trustees are aware of the Charity Commission's advice on Charities and Public Benefit.

The Trustees confirm that they have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing the Charity's aims and objectives and in planning future activities for the year.

MAP is of benefit to the public, specifically young people struggling to access mainstream education. This benefit is not restricted by the public's ability to pay, nor is it unreasonably restricted geographically. MAP is also of benefit to the public in providing arts exhibitions and events that foster understanding between people of different groups and promoting equality and diversity. For quantitative evidence supporting this please see s ection on 'Achievement And Performance' (page 3).

Approved by order of the board of trustees on 19[th] April 2022 and signed on its behalf by:

.............................................................................. O Hope (Treasurer) - Trustee

Page 5

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF MUSIC AND ARTS PRODUCTION LEEDS

Independent examiner's report to the trustees of Music and Arts Production Leeds ('the Company')

I report to the charity trustees on my examination of the accounts of the Company for the year ended 31st July 2021.

Responsibilities and basis of report

As the charity's trustees of the 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 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 charity'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

Since your charity's gross income exceeded £250,000 your examiner must be a member of a listed body. I can confirm that I am qualified to undertake the examination because I am a registered member of the Institute of Chartered Accountants which is one of the listed bodies.

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:

  1. accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or

  2. the accounts do not accord with those records; or

  3. the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination; or

  4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)).

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.

Christopher Darwin FCA Thomas Coombs Limited Chartered Accountants 3365 The Pentagon Century Way Thorpe Park Leeds West Yorkshire LS15 8ZB

Date: 19[th] April 2022

Page 6

MUSIC AND ARTS PRODUCTION LEEDS

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31ST JULY 2021

Unrestricted
fund
Notes
£
INCOME AND ENDOWMENTS FROM
Donations and legacies
Donations
Grants
2
80,537
18,335
Charitable activities
Education income
Events income
Screen printing
87,692
-
1,381
Job retention grant
5,942
Programme related investment income
Investment income
3
30,747
Total
224,634
EXPENDITURE ON
Raising funds
4
30,777
Charitable activities
5
Direct costs
Personnel costs
Support costs
Loan interest
14,132
81,003
12,465
36,689
Total
175,066
NET INCOME/(EXPENDITURE)
49,568
RECONCILIATION OF FUNDS
Total funds brought forward
172,649
TOTAL FUNDS CARRIED FORWARD
222,217		 Restricted
funds
£
100,000
576,506
-
-
-
-
-
676,506
-
11,494
85,885
14,188
6,311
117,878
558,628
-
558,628		 2021
2020
Total
Total
funds
funds
£
£
180,537
594,841
33,088
62,293
87,692
-
1,381
97,415
41,977
5,326
5,942
15,322
30,747
20,310
901,140
275,731
30,777
19,042
25,626
166,888
26,653
43,000
35,539
168,109
49,225
32,250
292,944
304,165
608,196
(28,434)
172,649
201,083
780,845
172,649

The notes form part of these financial statements

Page 7

MUSIC AND ARTS PRODUCTION LEEDS

BALANCE SHEET

31ST JULY 2021

Notes
FIXED ASSETS
Social investment – Programme related investment
12
CURRENT ASSETS
Stocks
13
Debtors
14
Cash at bank and in hand
CREDITORS
Amounts falling due within one year
15
NET CURRENT ASSETS
TOTAL ASSETS LESS CURRENT LIABILITIES
CREDITORS
Amounts falling due after more than one year
16
NET ASSETS
FUNDS
19
Unrestricted funds
Restricted funds
TOTAL FUNDS		 Unrestricted
fund
£
1,075,000
-
52,930
173,688
226,618
(4,401)
222,217
1,297,217
(1,075,000)
222,217		 Restricted
funds
£
-
-
448,756
109,872
558,628
-
558,628
558,628
-
558,628		 2021
Total
funds
£
1,075,000
-
501,686
283,560
785,246
(4,401)
780,845
1,855,845
(1,075,000)
780,845
222,217
558,628
780,845		 2020
Total
funds
£
1,075,000
538
61,155
125,743
187,436
(14,787)
172,649
1,247,649
(1,075,000)
172,649
172,649
-
172,649

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st July 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st July 2021 in accordance with Section 476 of the Companies Act 2006.

The trustees acknowledge their responsibilities for

These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.

The notes form part of these financial statements

Page 8

BALANCE SHEET 31ST JULY 2021

MUSIC AND ARTS PRODUCTION LEEDS

The financial statements were approved by the Board of Trustees and authorised for issue on 19[th] April 2022 and were signed on its behalf by:

............................................. O Hope (Treasurer) - Trustee

The notes form part of these financial statements

Page 9

MUSIC AND ARTS PRODUCTION LEEDS

CASH FLOW STATEMENT FOR THE YEAR ENDED 31ST JULY 2021

Notes
Cash flows from operating activities
Cash generated from operations
1
Net cash provided by operating activities
Cash flows from investing activities
Purchase of social investment
Net cash provided by/(used in) investing activities
Change in cash and cash equivalents in the
reporting period
Cash and cash equivalents at the beginning of
the reporting period
Cash and cash equivalents at the end of the
reporting period		 2021
£
157,817
157,817
-
-
157,817
125,743
283,560		 2020
£
1,043,069
1,043,069
(1,075,000)
(1,075,000)
(31,931)
157,674
125,743

The notes form part of these financial statements

Page 10

MUSIC AND ARTS PRODUCTION LEEDS

NOTES TO THE CASH FLOW STATEMENT FOR THE YEAR ENDED 31ST JULY 2021

1.
RECONCILIATION OF NET INCOME/(EXPENDITURE) TO NET CASH FLOW FROM OPERATING ACTIVITIES
2021
£
Net income/(expenditure) for the reporting period (as per the Statement of
Financial Activities)
608,196
Adjustments for:
Decrease in stocks
538
Increase in debtors
(440,531)
(Decrease)/increase in creditors
(10,386)
Net cash provided by operations
157,817		 2020
£
(28,434)
1,179
(16,126)
1,086,450
1,043,069

continued...

Page 11

MUSIC AND ARTS PRODUCTION LEEDS

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST JULY 2021

1. ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention, with the exception of investments which are included at market value.

The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £.

The significant accounting policies applied in preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

Income

All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds. The amount can be measured reliably and it is probable that the income will be received.

For donations to be recognised the charity will have been notified of the amounts and the settlement date in writing. If there are conditions attached to the donation and this requires a level of performance before entitlement can be obtained, then income is deferred until those conditions are fully met or the fulfilment of those conditions is within the control of the charity, and it is probable that they will be fulfilled.

The charity receives government grants in respect of furlough. Income from government and other grants are recognised at fair value when the charity has entitlement after any performance conditions have been met, it is probable that the income will be received and the amount can be measured reliably. If entitlement is not met then these amounts are deferred.

Expenditure

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.

Social investment-programme related investment

Programme related investments are measured at cost. At each period end the asset is assessed for impairment and a provision recognised if appropriate.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation

The charity is exempt from corporation tax on its charitable activities.

Irrecoverable VAT is included in the cost of the items to which it relates to.

Fund accounting

Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.

Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.

Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.

continued...

Page 12

MUSIC AND ARTS PRODUCTION LEEDS

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST JULY 2021

1. ACCOUNTING POLICIES

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to the Statement of Financial Activities on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.

Debtors and creditors receivable / payable within one year

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in expenditure

2. DONATIONS AND LEGACIES

2021
£
Donations
Grants Received:
Arts Council England
City Centre Management
Big Issue Invest
Leeds City Council
CAF Resilience Fund
The Mohn Westlake Foundation
The Pilgrim Trust
West Riding Masonic
Youth Music Foundation
Community Foundation
European Regional Development Fund
GSM Valtech
Springwell
Resident Advisor
HMRC Charities
General
180,537
75,000
8,335
15,000
12,500
15,250
10,000
10,000
-
-
-
448,756
-
-
-
-
-
594,841
3.
PROGRAMME RELATED INVESTMENT INCOME
2021
£
Property rental income
30,747
4.
RAISING FUNDS
2021
£
Stock shrinkage
538
Fund raising costs
Wages
Social security
Pensions
Freelance
27,044
1,679
416
1,100
30,777		 2020
£
33,088
22,808
-
-
-
-
-
-
3,000
10,000
2,000
-
1,200
2,448
129
10,708
10,000
62,293
2020
£
20,310
2020
£
8,442
2,250
175
-
8,175
19,042

continued...

Page 13

MUSIC AND ARTS PRODUCTION LEEDS

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST JULY 2021

5. CHARITABLE ACTIVITIES COSTS

5.
CHARITABLE ACTIVITIES COSTS
Direct
Costs (see
note 6)
£
Direct specific costs
Personnel costs
Other costs
Loan interest
8,776
-
16,850
-
25,626
6.
DIRECT COSTS OF CHARITABLE ACTIVITIES
Funded expenditure
Education expenses
Events expenses
Screen printing
Rent and rates
Facilities and maintenance
Depreciation
7.
OTHER COSTS
Management
£
Hope House project costs and organisation costs
Personnel costs
Other costs
Loan interest
3,917
166,888
22,736
-
193,541		 Other
costs (see
note 7)
£
3,917
166,888
22,736
43,000
236,541
2021
£
1,214
6,113
428
1,021
2,658
12,849
1,343
25,626
Finance
£
-
-
-
43,000
43,000		 Totals
£
12,693
166,888
39,586
43,000
262,167
2020
£
3,321
6,332
5,163
142
5,682
12,223
2,676
35,539
Totals
£
3,917
166,888
22,736
43,000
236,541

8. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31st July 2021 nor for the year ended 31st July 2020.

Trustees' expenses

There were no trustees' expenses paid for the year ended 31st July 2021 nor for the year ended 31st July 2020.

9. INDEPENDENT EXAMINERS REMUNERATION

The independent examiners remuneration amounts to an independent examination fee of £1,590 (2020: £1,550).

continued...

Page 14

MUSIC AND ARTS PRODUCTION LEEDS

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST JULY 2021

10.
STAFF COSTS
Wages and salaries
Social security costs
Other pension costs
Freelance costs
Consultancy fees		 2021
£
149,923
8,671
3,193
10,396
24,944
197,127		 2020
£
101,394
3,482
2,122
47,645
24,066
178,709

The Charity considers its key management personnel comprise the managing and development directors. The total employment costs of the key management personnel were £109,236 (2020: £72,885).

Reimbursed expenses, which are all subject to the Charity's process of internal controls, do not form part of remuneration and are not included above.

The average monthly number of employees during the year was as follows:

The average monthly number of employees during the year was as follows:
Management staff
Education staff		 2021
2
4
6		 2020
2
4
6

No employees received emoluments in excess of £60,000.

11. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES

Unrestricted
fund
£
INCOME AND ENDOWMENTS FROM
Donations and legacies
Donations 33,088
Grants 62,293
Charitable activities
Education income 97,415
Events inome 41,977
Screen printing 5,326
Job retention grant 15,322
Property rental income 20,310
Total 275,731
EXPENDITURE ON
Raising funds 19,042
Charitable activities
Direct costs 35,539
Personnel costs 168,109
Support costs 49,225
Loan interest 32,250
Total 304,165

continued...

Page 15

MUSIC AND ARTS PRODUCTION LEEDS

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST JULY 2021

11.
COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued
NET INCOME/(EXPENDITURE)
RECONCILIATION OF FUNDS
Total funds brought forward
TOTAL FUNDS CARRIED FORWARD
12.
SOCIAL INVESTMENT
PROGRAMME RELATED INVESTMENT
Cost:
At 1st August 2020
and 31st July 2021
NET BOOK VALUE
At 31st July 2021
At 31st July 2020
The investment property represents the cost of Hope House.
13.
STOCKS
Stocks
14.
DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Trade and funding debtors
Other debtors from secured grant funding
Prepayments		 2021
£
-
2021
£
43,745
448,756
9,185
501,686		 Unrestricted
fund
£
(28,434)
201,083
172,649
£
1,075,000
1,075,000
1,075,000
2020
£
538
2020
£
61,155
-
-
61,155		 Unrestricted
fund
£
(28,434)
201,083
172,649
£
1,075,000
1,075,000
1,075,000
2020
£
538
2020
£
61,155
-
-
61,155

continued...

Page 16

MUSIC AND ARTS PRODUCTION LEEDS

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST JULY 2021

15. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Trade creditors
Social security and other taxes
VAT
Wages creditor
16.
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
Other loans (see note 17)
17.
LOANS
An analysis of the maturity of loans is given below:
Amounts falling due between two and five years:
Other loans - 2-5 years		 2021
£
1,109
(383)
3,675
-
4,401
2021
£
1,075,000
2021
£
1,075,000		 2020
£
1,064
3,655
8,234
1,834
14,787
2020
£
1,075,000
2020
£
1,075,000

Other loans represents a fixed rate (4%) mortgage with a final repayment date of 30th September 2024. The security for the loan is Hope House.

The loan was advanced in September 2019 by a company of which D Mischendahi is a director and material shareholder. Subsequent after the transaction D Mischendahi became a trustee of the charity in November 2019.

18. MOVEMENT IN FUNDS

MOVEMENT IN FUNDS
Unrestricted funds
General fund
Restricted funds
Leeds Inspired Grant
The Mohn Westlake Foundation
The Pilgrim Trust
Robert Dyson
European Regional Development Fund
TOTAL FUNDS		 Net
movement
At 1/8/20
in funds

£
£
172,649
49,568
-
1,468
-
1,308
-
7,096
-
100,000
-
448,756		 At
31/7/21
£
222,217
1,468
1,308
7,096
100,000
448,756
-
172,649		 558,628
608,196		 558,628
780,845

continued...

Page 17

MUSIC AND ARTS PRODUCTION LEEDS

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST JULY 2021

18. MOVEMENT IN FUNDS - continued

Net movement in funds, included in the above are as follows:

Unrestricted funds
General fund
Restricted funds
Culture Recovery Fund 1
Social Enterprise Support Fund
Leeds Inspired Grant
CAF Resilience Fund
The Mohn Westlake Foundation
The Pilgrim Trust
Robert Dyson
European Regional Development Fund
Culture Recovery Fund 2
TOTAL FUNDS
Comparatives for movement in funds
Unrestricted funds
General fund
TOTAL FUNDS
Comparative net movement in funds, included in the above are as follows:
Unrestricted funds
General fund
TOTAL FUNDS		 Incoming
Resources
Movement
resources
expended
in funds
£
£
£
224,634
(175,066)
49,568
50,000
(50,000)
-
15,000
(15,000)
-
2,500
(1,032)
1,468
15,250
(15,250)
-
10,000
(8,692)
1,308
10,000
(2,904)
7,096
100,000
-
100,000
448,756
-
448,756
25,000
(25,000)
-
676,506
(117,878)
558,628
901,140
(292,944)
608,196
Net
movement
At
At 1/8/19
in funds
31/7/20
£
£
£
201,083
(28,434)
172,649
201,083
(28,434)
172,649

Incoming
Resources
Movement
resources
expended
in funds
£
£
£
275,731
(304,165)
(28,434)
275,731
(304,165)
(28,434)

continued...

Page 18

MUSIC AND ARTS PRODUCTION LEEDS

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST JULY 2021

19. RESTRICTED FUNDS

Arts Council England - Culture Recovery - Grant support awarded to help with the running costs of arts
Fund 1 organisations who had to close their venues or programmes due to the
pandemic.
Arts Council England - Culture Recovery - Grant support awarded to help with the running costs of arts
Fund 2 organisations who had to close their venues or programmes due to the
pandemic.
Big Issue Invest -Social Enterprise Support - Grant awarded to help mitigate loss of earning during the pandemic.
Fund
Leeds City Council - Leeds Inspired Fund - Funding towards improvements to events spaces.
CAF - Resilience Fund - Grant awarded to help mitigate loss of earning during the pandemic.
The Mohn Westlake Foundation - Funding towards enabling greater engagement for young people in the
arts. Restricted for Music And Arts Production Leeds Education
Programme.
The Pilgrim Trust - Funding towards the restoration of heritage windows at Hope Foundry
and workshops with young people in partnership with Live Site Learning.
Robert Dyson -Funding restricted to the refurbishment of Hope Foundry.
European Regional Development Fund -Funding restricted to the refurbishment of Hope Foundry.

20. RELATED PARTY DISCLOSURES

There were no related party transactions for the year ended 31st July 2021 other than the connection of D Michendahi to the funding mortgage for the purchase of Hope House as detailed in notes 12 and 17.

Page 19

MUSIC AND ARTS PRODUCTION LEEDS

DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31ST JULY 2021

INCOME AND ENDOWMENTS
Donations and legacies
Donations
Grants received
Programme related Investment income
Property rental income
Charitable activities
Government grants
Education income
Events income
Screen printing
Total incoming resources
EXPENDITURE
Investment management costs
Stock shrinkage
Fund raising costs
Wages
Social security
Pensions
Freelance
Charitable activities
Direct costs
Funded expenditure
Education expenses
Events expenses
Screen printing
Rent and rates
Facilities and maintenance
Office expenses
Support costs
Wages
Social security
Pensions
Consultancy fees
Subcontractors
Insurance
Light and heat
Telephone
Carried forward		 2021
£
180,537
594,841
775,378
30,747
5,942
87,692
-
1,381
95,015
901,140
538
27,044
1,679
416
1,100
30,777
1,214
6,113
428
1,021
2,658
12,849
1,343
25,626
122,879
6,992
2,777
24,944
9,296
11,687
8,276
1,466
188,317		 2020
£
33,088
62,293
95,381
20,310
15,322
97,415
41,977
5,326
160,040
275,731
8,442
2,250
175
-
8,175
19,042
3,321
6,332
5,163
142
5,682
12,223
2,676
35,539
99,144
3,307
2,122
24,066
39,470
9,390
4,709
1,824
184,032

This page does not form part of the statutory financial statements

Page 20

MUSIC AND ARTS PRODUCTION LEEDS

DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31ST JULY 2021

Brought forward
Travel and meetings
Sundries
Hope House project costs
Loan interest
Finance
Loan interest
Total resources expended
Net income/(expenditure)		 2021
£
187,317
366
941
3,917
-
193,541
43,000
292,944
608,196		 2020
£
184,032
234
204
32,815
49
217,334
32,250
304,165
(28,434)

This page does not form part of the statutory financial statements

Page 21