REGISTERED COMPANY NUMBER: 06364836 (England and Wales) REGISTERED CHARITY NUMBER: 1125752
Report of the Trustees and Financial Statements
for the Year Ended 30 April 2025
for
The British Music Experience
SB&P Chartered Accountants Oriel House 2-8 Oriel Road Bootle Liverpool Merseyside L20 7EP
The British Music Experience
Contents of the Financial Statements for the Year Ended 30 April 2025
| Page | |||
|---|---|---|---|
| Report of the Trustees | 1 | to | 4 |
| Independent Examiner's Report | 5 | ||
| Statement of Financial Activities | 6 | ||
| Balance Sheet | 7 | ||
| Cash Flow Statement | 8 | ||
| Notes to the Cash Flow Statement | 9 | ||
| Notes to the Financial Statements | 10 | to | 16 |
| Detailed Statement of Financial Activities | 17 | to | 18 |
The British Music Experience
Report of the Trustees for the Year Ended 30 April 2025
The Board of Trustees, serving as the Directors of the British Music Experience ("the Charity"), submit their annual report for the year ended 30 April 2025 in accordance with the Companies Act 2006 and the Charities Act 2011, accompanied by the audited financial statements for the period. Comparative figures relate to the year ended 30 April 2024.
The financial statements adhere to prevailing statutory obligations, the Charity's Memorandum and Articles of Association, and the Statement of Recommended Practice for charities preparing accounts under the Financial Reporting Standard applicable in the UK and Republic of Ireland (SORP FRS 102), issued on 16 July 2014.
The Charity operates as a registered charity (No. 1125752) and a company limited by guarantee (No. 06364836), incorporated and governed by the laws of England and Wales. Its registered office is detailed on the legal and administrative information page. As a registered company, the Charity submits its accounts to the Registrar of Companies.
The current Trustees, who act as Directors for Companies Act purposes, are identified on the legal and administrative information page. The Charity pursues its charitable mission in line with its defined objectives. Each member's liability is capped at £1. Should the Charity be wound up or dissolved with remaining assets, these would not be distributed to members but transferred to other charities with aligned objectives.
Additional legal and administrative information appears on the opening page.
OBJECTIVES AND ACTIVITIES
Objectives and aims
The Charity's core purposes involve advancing public education on the history, science, and culture of British popular music from its beginnings to the contemporary era through:
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The delivery of interactive educational displays, exhibitions, public events, and concerts;
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The acquisition (via loan, lease, gift, purchase, recovery, or other means), preservation, upkeep, and display of artistic works, instruments, documents, interviews, or artefacts;
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The provision of facilities for research, sound recording, performance, and archiving; and
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Other charitable aims under English and Welsh law as determined by the Trustees periodically.
These objectives are advanced primarily through managing an interactive exhibition called the British Music Experience (the "Museum").
Public benefit
The Trustees affirm compliance with Charity Commission public benefit guidance in assessing aims, objectives, and annual targets.
Key beneficiaries include:
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The wider public interested in British popular music's history and educational aspects;
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Students and educators in formal settings
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Music industry professionals and artists
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Local communities, especially underprivileged youth
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Interns, work experience participants, and higher education students
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Overseas visitors discovering UK culture via pop music
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Museum staff and arts sector career pathways enabled by the Charity.
Page 1
The British Music Experience
Report of the Trustees for the Year Ended 30 April 2025
STRATEGIC REPORT
Achievements and performance
Charitable activities
Key goals from the prior period centred on boosting visitor numbers, securing a lease extension with Liverpool City Council, enhancing the museum's interactive technology, expanding the Collection, and broadening access to heritage items.
The Museum
The Charity's central mission entails showcasing its holdings of objects, instruments, costumes, and digital records tracing popular music's evolution from 1945 onward. Throughout the reporting year, the Museum maintained a standard seasonal schedule without interruption.
Visitor numbers totalled 49,609 (52,046 in 2024), drawing from domestic and international tourists, individuals, and families. This slight dip from 2024 stems largely from reduced traffic post-Eurovision and disruptions from August Stockport protests during peak season at Liverpool's Pier Head.
Feedback via social media, press, and visitor platforms stayed strong, highlighting exceptional staff engagement, with ratings of 4.5-5 stars across all three review sites. The Museum earned its eighth straight TripAdvisor Certificate of Excellence, reached finalist status in the Liverpool Region Tourism Awards, and secured the premier visitor experience award from the Liverpool BID Company.
Operations
The 12-month unlimited entry pass, introduced previously, persisted and garnered praise, particularly from locals for its value. This model advances charitable aims by enhancing access for residents and repeat visitors to explore the collection freely over a year. It also yields 25p per £1 in revenue, bolstering financial stability and content investment. To amplify this, online Gift Aid declarations were added at purchase, backed by staff training and daily tracking. Gift Aid income rose 4% in 2025 versus 2024.
A benchmarking review of Liverpool and national attractions prompted ticketing adjustments: online adult tickets at £19, on-site at £21. Online discounts and venue pricing persisted to promote advance bookings and affordability, alongside concessions, education rates, and groups. The online fee was eliminated. Average ticket price stood at £15.05.
The partnership with Strawberry Field's Steps to Work Programme continued, placing one person with disabilities in supported employment.
The volunteer initiative launched with six roles, attracting strong interest. Training enabled participants to acquire skills and deeper heritage access.
Temporary Exhibitions, Acquisitions and Loans
A new Rolling Stones display debuted, featuring four landmark stage outfits from the band's 1960s-1970s ascent. The Museum acquired Ian Curtis's Vox Phantom VI Special Guitar from Joy Division's 'Love Will Tear Us Apart' video, marking the late-1970s post-punk era. Loan arrangements began with the V&A for Bowie items from the Ziggy Stardust period.
One temporary exhibition ran: Girl Power! Spice Girls at 30, drawn from superfan Liz West's collection, exploring the group's trajectory. Planning advanced for a Live Aid 40th anniversary exhibition. These are exhibitions included in standard admission.
The Interactive Studio
This remains a visitor favourite, delivering tutorials from beginner to advanced levels with premium electric/acoustic guitars, basses, drums, keyboards, and a vocal area, guided by a resident musician. Post-Gibson partnership conclusion in 2024, the instrument range expanded to Fender, Yamaha, and others for broader appeal. Studio app redevelopment commenced to supplant the Gibson version with a custom tool tailored to the Museum's setting.
University of Liverpool Partnership
Collaboration with the University's computer science unit employed AI to map the collection digitally. Deliverables encompassed a content management system with a bespoke archival formula for objects, incorporating online historical images and videos. The project also probed AI's potential for enriching the digital archive and timeline narrative. Phase two is underway, with grant applications for a potential PhD residency at the Museum.
Page 2
The British Music Experience
Report of the Trustees for the Year Ended 30 April 2025
Objectives for the forthcoming period (1 May 2025 to 30 April 2026), the Charity's priorities encompass: - Achieving at least 6% growth in general admission income - Securing the lease renewal - Executing interactive upgrades and projector renewals - Advancing acquisitions of content, objects, and artefacts for exhibition - Enhancing accessibility to engage broader audiences and heritage resources. Success metrics include these KPIs: - Attaining 52,000 visitors by period end - Delivering and mounting at least one temporary exhibition - Installing new David Bowie showcase, complete replacement of timeline and central zone projectors. - Initiating an expanded volunteer scheme - Finalising the lease agreement
At approval, the Trustees believe the Charity can fulfil all present and anticipated commitments for at least 12 months from the financial statements' approval date. Thus, these statements adopt a going concern assumption.
Creditor payment policy
The Charity's approach with suppliers involves agreeing payment terms at transaction outset and honouring them, assuming satisfactory delivery of goods or services per conditions. No external payment code or standard is followed.
Employees
Applications from disabled candidates receive thorough review, considering relevant aptitudes. For existing staff acquiring disabilities, retention efforts include tailored training to sustain employment. Training, career progression, and promotion for disabled employees mirror those for all staff where feasible.
The Charity values employee engagement, maintaining open communication on workplace matters and organisational performance via formal and informal channels. Regular consultations cover issues impacting staff interests short- and long-term.
Financial review
Financial position
The Statement of Financial Activities on page 6 details the year's outcomes.
Income Generation
For the year ended 30 April 2025, the Charity generated £957,586 in income (2024: £984,183).
Resources Expended
Total expenditure for the year ended 30 April 2025 reached £886,656 (2024: £963,168).
Reserves
A formal reserves policy is not currently in place. Year-end reserves totalled £403,851 (2024: £332,921), earmarked to underpin Museum operations, content refreshes, and cash flow for routine costs.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The Charity is regulated by a Memorandum and Articles of Association, first adopted on 7 September 2007. Amendments were approved via resolution on 1 September 2009.
Recruitment and appointment of new trustees
Trustees are appointed per the Articles of Association. Selections prioritise expertise in charity operations and the British music sector, alongside insights into music's societal benefits. Trustees possess hands-on knowledge of the Charity's activities, with several engaged since its founding. They receive encouragement to deepen their understanding of the Charity's environment and Trustee duties, including reference to the Charity Commission's 'The Essential Trustee' guide. Trustees also stay informed on Charity Commission best practices.
New Trustees participate in an induction with the Chair and key officers, covering legal duties under charity and company law, the Memorandum and Articles, governance structures, decision-making, the business plan, and recent financial outcomes. Ongoing updates on best practices are promoted.
Page 3
The British Music Experience
Report of the Trustees for the Year Ended 30 April 2025
STRUCTURE, GOVERNANCE AND MANAGEMENT Organisational structure
The British Music Experience group comprises a single legal entity: The British Music Experience, a registered English charity and company incorporated under English and Welsh law.
Risk management
The Charity employs a structured risk management framework to evaluate operational risks and deploy mitigation strategies.
Risk evaluations occur routinely during management Operations meetings and Trustee sessions. These involve pinpointing risk categories, ranking them by impact and probability, and devising countermeasures. Internal controls are assessed for sufficiency, with protocols for swift reporting of issues to management or Trustees as needed.
Following year-end risk review, the Trustees determined that the Charity has implemented all necessary prudent measures to reduce organisational risks; that existing risk policies and procedures are suitable; and that internal safeguards adequately protect against potential threats.
REFERENCE AND ADMINISTRATIVE DETAILS
Registered Company number
06364836 (England and Wales)
Registered Charity number 1125752
Registered office
C/o Broadfield Law UK LLP One Bartholomew Close London EC1A 7BL
Trustees
J S Collins M P Featherstone-Witty S W Galbraith H A Goldsmith K Harris Ms E K Koravos K M Mcmanus S P Weil
Company Secretary Broadway Secretaries Ltd
Independent Examiner
SB&P Chartered Accountants Oriel House 2-8 Oriel Road Bootle Liverpool Merseyside L20 7EP
Report of the trustees, incorporating a strategic report, approved by order of the board of trustees, as the company directors, on ............................................. and signed on the board's behalf by:
....................................................................
H A Goldsmith - Trustee
Page 4
Independent Examiner's Report to the Trustees of The British Music Experience
Independent examiner's report to the trustees of The British Music Experience ('the Company')
I report to the charity trustees on my examination of the accounts of the Company for the year ended 30 April 2025.
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 member of the Institute of Chartered Accountants in England and Wales, 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:
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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
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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
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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.
Suzanne Draper FCCA ACA
SB&P Chartered Accountants Oriel House 2-8 Oriel Road Bootle Liverpool Merseyside L20 7EP
Date: .............................................
Page 5
The British Music Experience
Statement of Financial Activities (Incorporating an Income and Expenditure Account) for the Year Ended 30 April 2025
| 30.4.25 Unrestricted fund Notes £ INCOME AND ENDOWMENTS FROM Charitable activities 4 General Admissions & Ticketing 639,056 Other trading activities 2 318,504 Investment income 3 26 Total 957,586 EXPENDITURE ON Raising funds 5 291,058 Charitable activities 6 Museum Expenditure 592,533 Other 3,065 Total 886,656 NET INCOME 70,930 RECONCILIATION OF FUNDS Total funds brought forward 332,921 TOTAL FUNDS CARRIED FORWARD 403,851 |
30.4.24 Total funds £ 648,425 335,758 - |
|---|---|
| 984,183 | |
| 271,509 690,075 1,584 |
|
| 963,168 | |
| 21,015 311,906 |
|
| 332,921 |
The notes form part of these financial statements
Page 6
The British Music Experience
Balance Sheet 30 April 2025
| 30.4.25 Unrestricted fund Notes £ FIXED ASSETS Tangible assets 12 16,932 CURRENT ASSETS Stocks 13 19,639 Debtors 14 50,254 Cash at bank and in hand 500,879 570,772 CREDITORS Amounts falling due within one year 15 (183,853) NET CURRENT ASSETS 386,919 TOTAL ASSETS LESS CURRENT LIABILITIES 403,851 CREDITORS Amounts falling due after more than one year 16 - NET ASSETS 403,851 FUNDS 18 Unrestricted funds 403,851 TOTAL FUNDS 403,851 |
30.4.24 Total funds £ 4,725 19,805 43,116 394,444 |
|---|---|
| 457,365 (114,169) |
|
| 343,196 | |
| 347,921 (15,000) |
|
| 332,921 | |
| 332,921 | |
| 332,921 |
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2025.
The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2025 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.
The financial statements were approved by the Board of Trustees and authorised for issue on ............................................. and were signed on its behalf by:
.............................................
H A Goldsmith - Trustee
The notes form part of these financial statements
Page 7
The British Music Experience
Cash Flow Statement for the Year Ended 30 April 2025
| Notes Cash flows from operating activities Cash generated from operations 1 Interest paid Net cash provided by operating activities Cash flows from investing activities Purchase of tangible fixed assets Interest received Net cash used in investing activities Cash flows from financing activities Loan repayments in year Net cash used in financing 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 |
30.4.25 £ 133,159 (564) 132,595 (16,186) 26 (16,160) (10,000) (10,000) 106,435 394,444 500,879 |
30.4.24 £ 132,964 (1,584) 131,380 (4,849) - (4,849) (10,353) (10,353) 116,178 278,266 394,444 |
|---|---|---|
The notes form part of these financial statements
Page 8
The British Music Experience
Notes to the Cash Flow Statement for the Year Ended 30 April 2025
| 1. RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES 30.4.25 £ Net income for the reporting period (as per the Statement of Financial Activities) 70,930 Adjustments for: Depreciation charges 3,979 Interest received (26) Interest paid 564 Decrease/(increase) in stocks 166 (Increase)/decrease in debtors (7,138) Increase in creditors 64,684 Net cash provided by operations 133,159 2. ANALYSIS OF CHANGES IN NET FUNDS |
30.4.24 £ 21,015 110,899 - 1,584 (8,156) 3,112 4,510 132,964 |
|---|---|
| At 1.5.24 | Cash flow | At 30.4.25 | |
|---|---|---|---|
| £ | £ | £ | |
| Net cash | |||
| Cash at bank and in hand | 394,444 | 106,435 | 500,879 |
| 394,444 | 106,435 | 500,879 | |
| Debt | |||
| Debts falling due within 1 year | (10,000) | (5,000) | (15,000) |
| Debts falling due after 1 year | (15,000) | 15,000 | - |
| (25,000) | 10,000 | (15,000) | |
| Total | 369,444 | 116,435 | 485,879 |
The notes form part of these financial statements
Page 9
The British Music Experience
Notes to the Financial Statements for the Year Ended 30 April 2025
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.
Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
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. Any income or gains not applied for charitable purposes, or arising from non-charitable trading activities that fall outside the small trading exemption, may be subject to corporation tax.
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.
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.
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The British Music Experience
Notes to the Financial Statements - continued for the Year Ended 30 April 2025
| 2. OTHER TRADING ACTIVITIES Shop income Event Income Cafe Income 3. INVESTMENT INCOME Deposit account interest 4. INCOME FROM CHARITABLE ACTIVITIES Activity General Admissions & Ticketing General Admissions & Ticketing 5. RAISING FUNDS Other trading activities Staff costs Event Expenses Shop & Cafe Expenses 6. CHARITABLE ACTIVITIES COSTS Direct Costs £ Museum Expenditure 402,807 |
30.4.25 £ 102,985 18,092 197,427 318,504 30.4.25 £ 26 30.4.25 £ 639,056 30.4.25 £ 161,528 839 128,691 291,058 Support costs (see note 7) £ 189,726 |
30.4.24 £ 106,466 35,722 193,570 |
|---|---|---|
| 335,758 | ||
| 30.4.24 £ - 30.4.24 £ 648,425 |
||
| 30.4.24 £ 142,371 3,244 125,894 |
||
| 271,509 | ||
| Totals £ 592,533 |
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The British Music Experience
Notes to the Financial Statements - continued for the Year Ended 30 April 2025
7. SUPPORT COSTS
| SUPPORT COSTS | ||||
|---|---|---|---|---|
| Governance | ||||
| Finance | Other | costs | Totals | |
| £ | £ | £ | £ | |
| Museum Expenditure | 1,317 | 177,575 | 10,834 | 189,726 |
8. NET INCOME/(EXPENDITURE)
Net income/(expenditure) is stated after charging/(crediting):
| 30.4.25 | 30.4.24 | |
|---|---|---|
| £ | £ | |
| Independent Examination | 4,550 | 4,400 |
| Accountancy Fees | 5,765 | 5,265 |
| Depreciation - owned assets | 3,979 | 110,899 |
| Other operating leases | 2,242 | 2,848 |
9. TRUSTEES' REMUNERATION AND BENEFITS
One trustee, E Koravos, received remuneration including pension contributions of £38,381 (2024: £36,135) for their role as Chief Executive, in accordance with the charity’s governing document which permits payment for executive duties.
No other trustees received remuneration or other benefits from the charity during the year.
Trustees' expenses
There were no trustees' expenses paid for the year ended 30 April 2025 nor for the year ended 30 April 2024.
10. STAFF COSTS
Employment Costs
| 30.4.2025 | 30.4.2024 | |
|---|---|---|
| £ | £ | |
| Wages and Salaries | 410,272 | 380,798 |
| Social Security Costs | 30,188 | 25,250 |
| Other Pension Costs | 9,902 | 9,176 |
| 450,362 | 415,224 | |
There were no employees whose annual remuneration was more than £60,000.
The average monthly number of employees during the year was as follows:
| Full Time Part Time Casual |
30.4.25 30.4.24 11 11 9 9 20 20 |
|---|---|
No employees received emoluments in excess of £60,000.
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The British Music Experience
Notes to the Financial Statements - continued for the Year Ended 30 April 2025
11. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
| INCOME AND ENDOWMENTS FROM Charitable activities General Admissions & Ticketing Other trading activities Total EXPENDITURE ON Raising funds Charitable activities Museum Expenditure Other Total NET INCOME RECONCILIATION OF FUNDS Total funds brought forward TOTAL FUNDS CARRIED FORWARD TANGIBLE FIXED ASSETS COST At 1 May 2024 Additions At 30 April 2025 DEPRECIATION At 1 May 2024 Charge for year At 30 April 2025 NET BOOK VALUE At 30 April 2025 At 30 April 2024 |
Exhibition assets £ 852,336 - 852,336 852,336 - 852,336 - - |
Unrestricted fund £ 648,425 335,758 984,183 271,509 690,075 1,584 963,168 21,015 311,906 332,921 Fixtures and fittings Totals £ £ 8,470 860,806 16,186 16,186 24,656 876,992 3,745 856,081 3,979 3,979 7,724 860,060 16,932 16,932 4,725 4,725 |
|---|---|---|
12. TANGIBLE FIXED ASSETS
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The British Music Experience
Notes to the Financial Statements - continued for the Year Ended 30 April 2025
| 13. STOCKS Stocks 14. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Trade debtors Other debtors Accrued Income Prepayments 15. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Bank loans and overdrafts (see note 17) Trade creditors Tax Social security and other taxes VAT Other creditors Accrued expenses 16. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR Bank loans (see note 17) 17. LOANS An analysis of the maturity of loans is given below: Amounts falling due within one year on demand: Bank loans Amounts falling between one and two years: Bank loans - 1-2 years |
30.4.25 £ 19,639 30.4.25 £ 5,069 19,755 4,315 21,115 50,254 30.4.25 £ 15,000 38,232 2,501 9,367 32,725 6,167 79,861 183,853 30.4.25 £ - 30.4.25 £ 15,000 - |
30.4.24 £ 19,805 30.4.24 £ 6,879 13,218 - 23,019 43,116 30.4.24 £ 10,000 51,631 - 7,378 30,783 2,624 11,753 |
30.4.24 £ 19,805 30.4.24 £ 6,879 13,218 - 23,019 43,116 30.4.24 £ 10,000 51,631 - 7,378 30,783 2,624 11,753 |
|---|---|---|---|
| 114,169 | |||
| 30.4.24 £ 15,000 30.4.24 £ 10,000 15,000 |
|||
| 15,000 |
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The British Music Experience
Notes to the Financial Statements - continued for the Year Ended 30 April 2025
18. MOVEMENT IN FUNDS
| At 1.5.24 £ Unrestricted funds General fund 332,921 TOTAL FUNDS 332,921 Net movement in funds, included in the above are as follows: Incoming resources £ Unrestricted funds General fund 957,586 TOTAL FUNDS 957,586 Comparatives for movement in funds At 1.5.23 £ Unrestricted funds General fund 311,906 TOTAL FUNDS 311,906 Comparative net movement in funds, included in the above are as follows: Incoming resources £ Unrestricted funds General fund 984,183 TOTAL FUNDS 984,183 A current year 12 months and prior year 12 months combined position is as follows: At 1.5.23 £ Unrestricted funds General fund 311,906 TOTAL FUNDS 311,906 |
Net movement At in funds 30.4.25 £ £ 70,930 403,851 70,930 403,851 Resources Movement expended in funds £ £ (886,656) 70,930 (886,656) 70,930 Net movement At in funds 30.4.24 £ £ 21,015 332,921 21,015 332,921 Resources Movement expended in funds £ £ (963,168) 21,015 (963,168) 21,015 Net movement At in funds 30.4.25 £ £ 91,945 403,851 91,945 403,851 |
|---|---|
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The British Music Experience
Notes to the Financial Statements - continued for the Year Ended 30 April 2025
18. MOVEMENT IN FUNDS - continued
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
| Incoming | Resources | Movement | |
|---|---|---|---|
| resources | expended | in funds | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 1,941,769 | (1,849,824) | 91,945 |
| TOTAL FUNDS | 1,941,769 | (1,849,824) | 91,945 |
19. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 30 April 2025.
Page 16
The British Music Experience
Detailed Statement of Financial Activities for the Year Ended 30 April 2025
| 30.4.25 | 30.4.24 | |
|---|---|---|
| £ | £ | |
| INCOME AND ENDOWMENTS | ||
| Other trading activities | ||
| Shop income | 102,985 | 106,466 |
| Event Income | 18,092 | 35,722 |
| Cafe Income | 197,427 | 193,570 |
| 318,504 | 335,758 | |
| Investment income | ||
| Deposit account interest | 26 | - |
| Charitable activities | ||
| General Admissions & Ticketing | 639,056 | 648,425 |
| Total incoming resources | 957,586 | 984,183 |
| EXPENDITURE | ||
| Other trading activities | ||
| Staff Costs | 161,528 | 142,371 |
| Event Expenses | 839 | 3,244 |
| Shop & Cafe Expenses | 128,691 | 125,894 |
| 291,058 | 271,509 | |
| Charitable activities | ||
| Staff Costs | 288,983 | 272,853 |
| Square Fees | 6,495 | - |
| Advertising | 19,843 | 9,484 |
| Exhibition Costs | 42,984 | 38,438 |
| Income Consultancy | 28,813 | 29,792 |
| Storage | 1,600 | 1,600 |
| Credit Card Charges | 7,462 | 19,082 |
| General Expenses | 543 | 2,241 |
| Staff Training | 2,105 | 1,523 |
| Depreciation of tangible fixed assets | 3,979 | 110,900 |
| 402,807 | 485,913 | |
| Other | ||
| Taxation | 2,501 | - |
| Bank interest | 564 | 1,584 |
| 3,065 | 1,584 | |
| Support costs | ||
| Finance | ||
| Bank charges | 1,317 | 1,454 |
This page does not form part of the statutory financial statements
Page 17
The British Music Experience
Detailed Statement of Financial Activities for the Year Ended 30 April 2025
| 30.4.25 | 30.4.24 | |
|---|---|---|
| £ | £ | |
| Finance | ||
| Other | ||
| Licencing | 39,239 | 55,375 |
| Cleaning and Maintenance | 24,327 | 20,385 |
| Exhibition Support Costs | 87 | 2,444 |
| Other operating leases | 2,242 | 2,848 |
| Rent and Rates | 83,265 | 84,701 |
| Insurance | 11,047 | 9,337 |
| Entertaining | 558 | 525 |
| Telephone | 2,025 | 1,927 |
| IT Software and Subscriptions | 12,453 | 13,061 |
| Postage and Stationary | 308 | 417 |
| Travelling | 2,024 | 1,117 |
| 177,575 | 192,137 | |
| Governance costs | ||
| Independent Examination | 4,550 | 4,400 |
| Accountancy Fees | 5,765 | 5,265 |
| Legal Fees | 519 | 906 |
| 10,834 | 10,571 | |
| Total resources expended | 886,656 | 963,168 |
| Net income | 70,930 | 21,015 |
This page does not form part of the statutory financial statements
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