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 2022 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 2022
| 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 |
| Cash Flow Statement | 9 |
| Notes to the Cash Flow Statement | 10 |
| Notes to the Financial Statements | 11 to 18 |
| Detailed Statement of Financial Activities | 19 to 20 |
MUSIC AND ARTS PRODUCTION LEEDS
REFERENCE AND ADMINISTRATIVE DETAILS FOR THE YEAR ENDED 31ST JULY 2022
| TRUSTEES | O Hope |
|---|---|
| M Greenwell (resigned 31/12/2021) | |
| S Hassan | |
| J Gill | |
| M Mookerjee | |
| C Oliver | |
| G Yates | |
| L Lloyd-Henry | |
| D Mischendahl | |
| G Rosenberg | |
| I Gudelis | |
| COMPANY SECRETARY | T Smith |
| REGISTERED OFFICE | MAP |
| 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 Busby |
Page 1
MUSIC AND ARTS PRODUCTION LEEDS
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST JULY 2022
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 2022. 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
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1) The advancement of education in the arts and music.
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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.
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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 Charity 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
-
To empower young people to take a greater responsibility for their own well-being.
-
To enable young people with difficulty accessing mainstream education to access provision.
-
To encourage young people to achieve accredited qualifications for their work.
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To increase opportunities in arts and music for young people in Leeds.
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To encourage young people to further their education after school.
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To encourage the development of new skills in the arts and music.
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To enable greater access to the arts and music for the public.
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To broaden possible life experiences of the public and in particular within disadvantaged communities.
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.
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MUSIC AND ARTS PRODUCTION LEEDS
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST JULY 2022
ACHIEVEMENT AND PERFORMANCE Charitable activities
Education
| CHIEVEMENT AND PERFORMANCE haritable activities ducation |
||
|---|---|---|
| Schools Education | 36 participants | 3325 hours used |
| 61.5% attendance | 85.4% achievement | |
| Work Experience | 1 participant | 24 hours |
| Education Volunteers | 16 participants | 330 hours |
| Events & Exhibitions | 17 events | 101 artists/participants |
| 78 opening hours | 2380 Visitors/Viewers |
The number of new education referrals has returned to pre pandemic levels, and the income for 2021-22 of £117,000 is in keeping with the £125,000 of income in the last full academic pre-pandemic year of 2018-2019. The number of referrals in place for the start of the 2022-23 academic year suggests the increase in the number of new referrals will continue.
The attendance levels for the year 2021-22 are 15% lower when compared with those from the last full academic pre-pandemic year of 2018-2019. This is possibly due to disruption in learners' education over the previous 24 months, resulting in lack of routine, resilience and low attendance. The education programme has strengthened its reputation amongst students, families/carers, supporting professionals and staff at schools and continues to be highly regarded as delivering quality provision, delivering BTEC Level 1 Introductory qualifications.
Hope Foundry-Workspace Capital Project
In 2019 MAP Charity purchased Hope Foundry for £1,075,000 using a loan for the full amount, at 4% interest which is to be refinanced in 2024 after the refurbishment of half of the building to provide affordable work space. This refurbishment was to be funded with £900,000 from Leeds City Council and the ERDF, alongside a £100,000 contribution from MAP Charity. However to allow for increased costs within the building industry during 2012-22 MAP had to secure an additional £190,000 from ERDF and increase MAP’s own contribution by £170,000.
FINANCIAL REVIEW
Performance in year
MAP recommenced fund-raising events activity in February 2022 and after being extremely limited throughout the period of the pandemic. In the 6 month period between recommencement and July 2022 there was £40,000 of income which suggests that levels of income are broadly in line with the last full pre pandemic year which stood at £86,000.
The total income from donations throughout the 2021-22 year was approximately £145,000 which is £35,000 lower than the £180,000 received in the 2020-21 year. The total income from grants throughout the 2021-22 year was approximately £614,000 compared to £595,000 in the 2020-21 year. The income for the 2021-22 year is predominantly toward the capital project outlined above. All but £31,000 of this £614,000 figure was restricted and can only be used on the workspace capital project.
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.
Total reserves at 31st July 2022 stood at £1,302,971 (£780,845 at 31st July 2021) of which £1,046,025 is restricted (and £256,946 unrestricted). This is 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.
Future plans
The refurbishment of the workspace on the top two floors of Hope Foundry is due to be completed in Spring 2023 and will enable MAP Charity to support creative industries and maintain the financial sustainability of the site. In 2022-23 MAP Education will continue increasing levels of activity, and sustain the current creative and functional skills programme. In 2022-23 MAP also aims to expand its fundraising 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.
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MUSIC AND ARTS PRODUCTION LEEDS
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST JULY 2022
Nature of Governing Document
Music And Arts Production Leeds is a private registered charitable company limited by guarantee, with no share capital, incorporated on the 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 and Tom Edney.
The trustees affirm and maintain their commitment to Safeguarding and Child Protection, Health and Safety, Behaviour and 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 Chief Executive, Financial Officer and Education Managers 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:
-Governance and management risks Operational risks Financial risks -External and compliance risks Government reducing schools' ability to spend on alternative provision for their pupils.
It is the policy of the trustees to review all risks on an annual basis. The annual review 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.
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 section on 'Achievement And Performance' (page 3).
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MUSIC AND ARTS PRODUCTION LEEDS
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST JULY 2022
Approved by order of the board of trustees on 18[th] April 2023 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 2022.
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 ICAEW 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:
-
accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or
-
the accounts do not accord with those records; or
-
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
-
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 ICAEW Thomas Coombs Limited Chartered Accountants 3365 The Pentagon Century Way Thorpe Park Leeds West Yorkshire LS15 8ZB
Date: 18[th] April 2023
Page 6
MUSIC AND ARTS PRODUCTION LEEDS
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31ST JULY 2022
| Notes INCOME AND ENDOWMENTS FROM Donations and legacies 2 Donations Grants Charitable activities Education income Events income Screen printing Job retention grant Programme related investment income Investment income 3 Total EXPENDITURE ON Raising funds 4 Charitable activities 5 Direct costs Personnel costs Support costs Loan interest Total NET INCOME Transfers between funds 17 Net movement in funds RECONCILIATION OF FUNDS Total funds brought forward TOTAL FUNDS CARRIED FORWARD |
Unrestricted fund £ 143,317 31,000 117,487 40,858 - - 28,712 361,374 31,066 47,874 176,430 25,592 43,000 323,962 37,412 (2,683) 34,729 222,217 256,946 |
Restricted funds £ - 583,505 - - - - - 583,505 - 65,899 29,853 3,039 - 98,791 484,714 2,683 487,397 558,628 1,046,025 |
2022 Total funds £ 143,317 614,505 117,487 40,858 - - 28,712 944,879 31,066 113,773 206,283 28,631 43,000 422,753 522,126 - 522,126 780,845 1,302,971 |
2021 Total funds £ 180,537 594,841 87,692 - 1,381 5,942 30,747 |
|---|---|---|---|---|
| 901,140 30,777 29,543 166,888 22,736 43,000 |
||||
| 292,944 | ||||
| 608,196 - |
||||
| 608,196 172,649 |
||||
| 780,845 |
The notes form part of these financial statements
Page 7
MUSIC AND ARTS PRODUCTION LEEDS
BALANCE SHEET
31ST JULY 2022
| Notes FIXED ASSETS Social investment – Programme related investment 12 CURRENT ASSETS Debtors 13 Cash at bank and in hand CREDITORS Amounts falling due within one year 14 NET CURRENT ASSETS TOTAL ASSETS LESS CURRENT LIABILITIES CREDITORS Amounts falling due after more than one year 15 NET ASSETS FUNDS 17 Unrestricted funds Designated funds Restricted funds TOTAL FUNDS |
Unrestricted fund £ 1,075,000 73,430 189,048 262,478 (5,532) 256,946 1,331,946 (1,075,000) 256,946 |
Restricted funds £ - 812,746 323,279 1,136,025 (90,000) 1,046,025 1,046,025 - 1,046,025 |
2022 Total funds £ 1,075,000 886,176 512,327 1,398,503 (95,832) 1,302,971 2,377,971 (1,075,000) 1,302,971 56,946 200,000 1,046,025 1,302,971 |
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 |
|---|---|---|---|---|
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st July 2022.
The members have not required the company to obtain an audit of its financial statements for the year ended 31st July 2022 in accordance with Section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for
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(a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
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(b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.
These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.
The financial statements were approved by the Board of Trustees and authorised for issue on 18[th] April 2023 and were signed on its behalf by:
............................................. O Hope (Treasurer) - Trustee
The notes form part of these financial statements
Page 8
MUSIC AND ARTS PRODUCTION LEEDS
CASH FLOW STATEMENT FOR THE YEAR ENDED 31ST JULY 2022
| Notes Cash flows from operating activities Cash generated from operations 1 Net cash provided by/(used in) operating 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 |
2022 £ 228,767 228,767 228,767 283,560 512,327 |
2021 £ 157,817 157,817 157,817 125,743 283,560 |
|---|---|---|
The notes form part of these financial statements
Page 9
MUSIC AND ARTS PRODUCTION LEEDS
NOTES TO THE CASH FLOW STATEMENT FOR THE YEAR ENDED 31ST JULY 2022
| 1. RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES Net income for the reporting period (as per the Statement of Financial Activities) Adjustments for: Decrease in stocks Increase in debtors Increase/(decrease) in creditors Net cash provided by/(used in) operations |
2022 £ 522,126 - (384,490) 91,131 228,767 |
2021 £ 608,196 538 (440,531) (10,386) 157,817 |
|---|---|---|
The notes form part of these financial statements
Page 10
MUSIC AND ARTS PRODUCTION LEEDS
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST JULY 2022
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, it is probable that the income will be received and the amount can be measured reliably.
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.
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
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in the Statement of Financial Activities.
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.
Hire purchase and leasing commitments
Rentals paid under operating leases are charged to the Statement of Financial Activities on a straight line basis over the period of the lease.
continued...
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MUSIC AND ARTS PRODUCTION LEEDS
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST JULY 2022
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
| 2. DONATIONS AND LEGACIES |
||
|---|---|---|
| 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 European Regional Development Fund Leeds Inspired Workspace Fund – LCC Workspace Fund – LCC Deferred Discretionary Fund Small Sparks 3. PROGRAMME RELATED INVESTMENT INCOME Property rental income 4. RAISING FUNDS Stock shrinkage Fund raising costs Wages Social security Pensions Freelance |
2022 £ 143,317 25,000 - - - - - - 191,897 6,258 450,000 (90,000) 31,000 350 614,505 2022 £ 28,712 2022 £ - 27,745 2,676 645 - 31,066 |
2021 £ 180,537 75,000 8,335 15,000 12,500 15,250 10,000 10,000 448,756 - - - - - 594,841 2021 £ 30,747 2021 £ 538 27,044 1,679 416 1,100 30,777 |
continued...
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MUSIC AND ARTS PRODUCTION LEEDS
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST JULY 2022
5. CHARITABLE ACTIVITIES COSTS
| Direct Costs (see note 6) £ Direct specific costs 113,773 Personnel costs - Other costs - Loan interest - 113,773 DIRECT COSTS OF CHARITABLE ACTIVITIES Funded expenditure Education expenses Events expenses Screen printing Rent and rates Facilities and maintenance Depreciation Hope House Project Costs Legal fees SUPPORT COSTS Management £ Personnel costs 206,283 Other costs 28,631 Loan interest - 234,914 |
Support costs (see note 7) £ - 206,283 28,631 43,000 277,914 2022 £ - 7,551 16,155 299 2,964 18,759 5,366 7,311 55,368 113,773 Finance £ - - 43,000 43,000 |
Totals £ 113,773 206,283 28,361 43,000 |
|---|---|---|
| 391,687 | ||
| 2021 £ 1,214 6,113 428 1,021 2,658 12,849 1,343 3,917 - 29,543 Totals £ 206,283 28,631 43,000 |
||
| 277,914 |
6. DIRECT COSTS OF CHARITABLE ACTIVITIES
7. SUPPORT COSTS
8. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31st July 2022 nor for the year ended 31st July 2021.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31st July 2022 nor for the year ended 31st July 2021.
9. INDEPENDENT EXAMINERS REMUNERATION
The independent examiners remuneration amounts to an independent examination fee of £1,890 (2021: £1,720).
continued...
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MUSIC AND ARTS PRODUCTION LEEDS
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST JULY 2022
10. STAFF COSTS
| Wages and salaries Social security costs Other pension costs Freelance costs Consultancy fees |
2022 £ 155,435 13,005 2,984 37,147 28,777 237,348 |
2021 £ 149,923 8,671 3,193 10,396 24,944 |
|---|---|---|
| 197,127 |
The Charity considers its key management personnel comprise the trustees, the Chief Executive, Financial Officer and Education Managers. The total employment costs of the key management personnel were £124,396 (2021: £109,236).
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:
| Management staff Education staff |
2022 2 4 6 |
2021 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 80,537 Grants 18,335 Charitable activities Education income 87,692 Events income - Screen printing 1,381 Job retention grant 5,942 Programme related investment income Investment income 30,747 Total 224,634 EXPENDITURE ON Raising funds 30,777 Charitable activities Direct costs 14,132 Personnel costs 81,003 |
Restricted funds £ 100,000 576,506 - - - - - 676,506 - 11,494 85,885 |
Total funds £ 180,537 594,841 87,692 - 1,381 5,942 30,747 901,140 30,777 25,626 166,888 |
|---|---|---|
continued...
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MUSIC AND ARTS PRODUCTION LEEDS
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST JULY 2022
| 11. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued Unrestricted fund £ Support costs 12,465 Loan interest 36,689 Total 175,066 NET INCOME 49,568 RECONCILIATION OF FUNDS Total funds brought forward 172,649 TOTAL FUNDS CARRIED FORWARD 222,217 12. SOCIAL INVESTMENT FAIR VALUE At 1st August 2021 and 31st July 2022 NET BOOK VALUE At 31st July 2022 At 31st July 2021 The social investment property represents the cost of Hope House. 13. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Trade and funding debtors Other debtors from secured grant funding VAT Prepayments |
Restricted funds £ 14,188 6,311 117,878 558,628 - 558,628 2022 £ 282,514 587,949 2,298 13,415 886,176 |
Total funds £ 26,653 43,000 292,944 608,196 172,649 780,845 £ 1,075,000 1,075,000 1,075,000 2021 £ 43,745 448,756 - 9,185 501,686 |
Total funds £ 26,653 43,000 |
|---|---|---|---|
| 292,944 | |||
| 608,196 172,649 |
|||
| 780,845 | |||
continued...
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MUSIC AND ARTS PRODUCTION LEEDS
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST JULY 2022
14. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
| 14. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
|||
|---|---|---|---|
| Creditors in the ordinary course of activities Social security and other taxes VAT Accruals and deferred income 15. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR Other loans (see note 16) 16. LOANS An analysis of the maturity of loans is given below: Amounts falling due between two and five years: Other loans - 2-5 years |
2022 £ - 3,642 - 91,890 95,532 2022 £ 1,075,000 2022 £ 1,075,000 |
2021 £ 1,109 (383) 3,675 - 4,401 2021 £ 1,075,000 |
2021 £ 1,109 (383) 3,675 - |
| 4,401 | |||
| 2021 £ 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. Subsequently after the transaction D Mischendahi became a trustee of the charity in November 2019.
17. MOVEMENT IN FUNDS
| Unrestricted funds General fund Designated funds Restricted funds Culture Recovery Fund 1 Leeds Inspired Grant The Mohn Westlake Foundation The Pilgrim Trust Robert Dyson European Regional Development Fund Workspace Fund – Leeds City Council Small Sparks Fund TOTAL FUNDS |
Net movement At 1/8/21 in funds £ £ 222,217 37,412 - - - (1,933) 1,468 (729) 1,308 (1,308) 7,096 (7,846) 100,000 - 448,756 138,990 - 357,190 - 350 558,628 484,714 780,845 522,126 |
Transfers between At funds 31/7/22 £ £ (202,683) 56,946 200,000 200,000 1,933 - - 739 - - 750 - - 100,000 - 587,746 - 357,190 - 350 2,683 1,046,025 - 1,302,971 |
At 31/7/22 £ 56,946 200,000 - 739 - - 100,000 587,746 357,190 350 |
|---|---|---|---|
continued...
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MUSIC AND ARTS PRODUCTION LEEDS
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST JULY 2022
17. 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 Leeds Inspired Grant The Mohn Westlake Foundation The Pilgrim Trust European Regional Development Fund Workspace Fund – Leeds City Council Small Sparks Fund TOTAL FUNDS Comparatives for 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 |
Incoming Resources Movement resources expended in funds £ £ £ 361,374 (323,962) 37,412 25,000 (26,933) (1,933) 6,258 (6,987) (729) - (1,308) (1,308) - (7,846) (7,846) 191,897 (52,907) 138,990 360,000 (2,810) 357,190 350 - 350 583,505 (98,791) 484,714 944,879 (422,753) 522,126 Net movement At At 1/8/20 in funds 31/7/21 £ £ £ 172,649 49,568 222,217 - 1,468 1,468 - 1,308 1,308 - 7,096 7,096 - 100,000 100,000 - 448,756 448,756 - 558,628 558,628 172,649 608,196 780,845 |
|---|---|
continued...
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MUSIC AND ARTS PRODUCTION LEEDS
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST JULY 2022
17. MOVEMENT IN FUNDS - continued
Comparative net movement in funds, included in the above are as follows:
| Unrestricted funds General fund Restricted funds Culture Recovery Fund 1 Social Enterprise 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 |
Incoming resources £ 224,634 50,000 15,000 2,500 15,250 10,000 10,000 100,000 448,756 25,000 676,506 901,140 |
Resources Movement expended in funds £ £ (175,066) 49,568 (50,000) - (15,000) - (1,032) 1,468 (15,250) - (8,692) 1,308 (2,904) 7,096 - 100,000 - 448,756 (25,000) - (117,878) 558,628 (292,944) 608,196 |
|---|---|---|
Designated funds
£200,000 has been designated for cash flow, contingencies, and financing aspects of the Hope House Project.
Restricted funds
| 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. |
| Small Sparks fund |
-Awarded for MAP Education's young people's exhibition later on in the |
| year. | |
| Workspace Fund – Leeds City Council |
-Restricted for Workspace Refurbishment. |
18. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31st July 2022 other than the connection of D Michendahl to the funding mortgage for the purchase of Hope House as detailed in notes 12 and 16.
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MUSIC AND ARTS PRODUCTION LEEDS
DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31ST JULY 2022
| INCOME AND ENDOWMENTS Donations and legacies Donations Grants received Property 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 Hope House project costs Legal fees Support costs Management Wages Social security Pensions Consultancy fees Subcontractors Insurance Light and heat Telephone Carried forward |
2022 £ 143,317 614,505 757,822 28,712 - 117,487 40,858 - 158,345 944,879 - 27,745 2,676 645 - 31,066 - 7,551 16,155 299 2,964 18,759 5,366 7,311 55,368 113,773 127,690 10,330 2,339 28,777 37,147 13,923 10,444 1,519 232,169 |
2021 £ 80,537 694,841 |
|---|---|---|
| 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 3,917 - |
||
| 29,543 122,879 6,992 2,777 24,944 9,296 11,687 8,276 1,466 188,317 |
This page does not form part of the statutory financial statements
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MUSIC AND ARTS PRODUCTION LEEDS
DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31ST JULY 2022
| Management Brought forward Travel and meetings Sundries Finance Loan interest Total resources expended Net income |
2022 £ 232,169 1,020 1,725 234,914 43,000 422,753 522,126 |
2021 £ 188,317 366 941 |
|---|---|---|
| 189,624 43,000 |
||
| 292,944 | ||
| 608,196 |
This page does not form part of the statutory financial statements
Page 20