MUSC THEfiAPY wofiKS MUSIC THERAPY WORKS COMPANY LIMITED BY GUARANTEE NO. 6663759 REGISTERED CHARITY NO. 1126584 REPORT AND FINANCIAL STATEMENTS FOR THE YEAR TO 31" AUGUST 2022
Music Therapy Works Annual Report and Financial Statements for the year ended 31" August 2022 The Music Therapy Works Model of Music Therapy Music therapy15 a State reglstered profession governed by thè Health and Care Professions Council. The MTW Model of Music Therapy is an e¥idence based 3nd outcomes led inteNention delivered bv specialist music thernp15ts who prartise withSn a d&ir Y(hotherapeUr1cframeWO This enables the work to 80 beyond a simpk musical inteThention. pro¥idln8 clarity and support in processlng trauma. attachmetrt. bereavement. developmental Issues. Ilfe limltlng Illness andlor mental hÈalth concerns. The Music Therapy Works model 15 often used as a lead •t¢ heath pro¥lon linking to both Internal and extemal a£encie5. Structured muslc provldes familiarity, a sense of safety, ¢onnection and routine. MTW mu51c therapy Is accessible to every individual: no muslcal abillty is necessary. How Does Music Therapy Work? Muslc therapy en8a8es and connerts people. It encourages soclal and ¢ommunlcatlOll Skills, emotional expresslon and cognltlon. It has a protound neurological impatt which assists physical and psychological thange. Sound Is a physical vlbration resonating with every individual regardless of circumstances. Music therapy creates a space in which feelings can be processed and new ideas forrned, using both verbal and non-veTbal clinical technÈqiies. MTW work with vulnerable clients, wlM)se age5 range from 2-3 years old to the very elderly, providing dinical inteentionS which assist with mentsl health and well-being* attachment difficulties-. bereavement issues; 9xial and emotional issues; acquired brain injuryi dementia; and children and adults at the end of lrfe.
Music Therapy Works Annual Report and Financial Statements for the yw ended 31" August 2022 CONTETrirs Page Reference and administrative detsils Report of the dlrectors Independent examinerfs report io Statement of financial activities li Balance sheet 12 Notes to the financial statements 13-18
Music Therapy Works Annual Report and Financial Statements for the y&ir ended 31" August 2022 REFERENCE AND ADMINlSfRATIVE DAlls DIRECtORS: John Clemson MBE (Chair) Allan Middleton Craig Profjohn Whenham Andrea Howl Sandra Bristoll Sue Ayres Carrie Churnside (Appointed 13.12.211 COMPANY sEcRARY. Sophia Parker REGISTERED OFFICE: 5 Deansway Worcester WRI 2JG CHIEF EXECUTIVE: Simon Murphy REGISTERED NUMBERS: Company.. 6663759 Charity: 1126584 INDEPENDENT EXAMINER: Mr L E Parke5. FCA Parkes & Co 5 Crondal Place Edgbaston Birmingham 815 2LB BANKERS: UnityTrust Bank PO Box 7193 Planetary Road Willenhall WVI 9DG United Trust Bank One Ropemaker Street London EC2Y 9AW Redwood Bank The Nexus Building Broadway Letchworth Garden Cty SG6 3TA
Music Therapy Works Annual Report and Financial Statements for the y&4r ended 31- August 2022 REPORT OF THE DIREcroiis The directors pre5enttheir pOrt wtth the financial ststements ofthe companyforthe year ended 31 Au8ust 2022. The financial sratements have been prepared in accordance with the Chariws accountirsg policses setout in Note l and comply with the Charivs Memorandum & Artides of A$50ciation, the Companies Art 2006 and the provisions of "AccountSn8 and Rewrting by Charities= Statement of Recommended Practlce applicable to charities preparing their accounts In a¢¢ordan¢Èwfjth the Flnartcial Reportin8Standard applicable Inthe UK and the Republlcof Ireland IFRS 1021 leffertive for accounting periods comrnencingfrorn l January 20191." STRUCTURE, GOVERNANCE AND MANAGEMENT Govemln8 rcument The Charity 15 a charitable Cornpany limited by guarantee incorpordted on 4 August 2CQ8. The Charity was established under a Memorandurn ol A550ciation that estsblished the objects and ptswer5 of the charitable cornpany and 15 governed underits Articles of Ass¢xiation as amended by5pecial resolutions dated 13 May 2019 and IS June 2020. The Charity re8iStered wTrth the Charity Commission for England and Wales on 6 November 2008. The directors. who arè a150 trusteès. durlng the period uNler revlew, wère: John aemson MBE Ichalrl Allan Middleton Cralg Profjohn Whenham Andrea Howl Sandra Brlstoll Sue Ayres Carrle Churnsldè IAppointed 13 Decembtr 20211 The company is limited by 8uorantee and iherelore no director has any interest in the share capstal of the comp3ny. The directors are usually appointed at theAnnual General Meetin8 to ensure that the 8oard represents a cross section of the community. The directors are responslble for financial contro15 and accourts: for developi and overseelng a reserves pollcy,. for ensurlng that all procedures and policies adhere to their le8al requirements as employers- for Teviewing risk managernent ol the organisation; to ensure all aspects of charity and company law are fully and properly adhered to and 8enerally protect the charitvs property. sTATEmETr OF TRusfEES' RESPONSIBIUTIES Company law requires the Trustees to prepare actounts that 8ive a true and fair view of the state of affaSrs of the charitable cornpany at the end of the financial year and of the Charitable compan(5 surplu5 or deficit for the year. In doing 5ts, the Tru5tee5 are required to.. select suitsble aUntIng policres and applythem coffji5tentty,' make judgments and estimates that are reasonable and prudent: state whether appllcable accounting standan15 aj statements of recommended PrartI have been followed, sublect to any matedal departu$ dis¢losed and eypiained in the accounts.. and prepa¢ethe at¢ountsonthe8tsing concern basis unless i14sinappropriateto presumethatthecharitywill continue In buslness. The Tru5teesafe responsible for maintairÈing properaccounting records which disdosÈwith aSonable a¢curaLy atany tiffle the finavaal p05ttion of the charitable company arbd which enable them to ensure that the accounts comply with
Music Therapy Works Annual Report and Financial Statements for the year ended 31" August 2022 the Companies Att 21. The Trustees are al reSwns1b for safeguardIthe assets of the charitable company and hence fortskin8 reasonable steps for the preventton and detection of fraud and other irregularities. MISSION STATEMENT The L¥verdll mi55ion of MusicTherapyWorks Is: To deliver an excellent antl Comprehensive music therapy Servi in a cohesive and IoGilly appropdate manner, accessible to all who need rt. To develop and supportthe dest possible appltstion of music therapy. To rnaintain the high quality of the therapy provided throu8h re8ular monrtorin8 and rewew. To be recognised as a leadin8 provider of music thernpy. To conirfbute to muslc therapy provision. tf3inin& and reseèrth. 08JEcfivES ANO AcfiviTIES The principal oblecLive of Music Therapy Works is to provide mvslc therapy for children and adults of all ages within local communltles in the Heart of EoBland area. The charty achieves its objective throu8h the provision of comrnunity-based musl¢therapy servlce for both thlldren and adults. The main objects, a5 shown in the Memorandum and Articles ofAssodatlorn are.. The therapeutlc use of music for the relief of physiol and rnentsl Sllness and disability, the alleviatlon of developmental, emotlonal, st)dal. and behavlotsr31 drfficulties and the protertion and promoi¢on of 8ood health. The promotlon of the use of musk theTaPV by other organisatlons Indudln8 but not Ilrnited to hospitals, prlson5, hosplces. and schools. The promotion and publication of rè5Èarth into thetherdpeIC use of musk. The education of members of the public ¢onteming music a5 a of therapy. The establishmenL development and use of health professions counul approved training courses to traln individuals as musi¢therapists. For the flrture. the dirertgrs wlll continue to se*k to expand the prwlslon of muslc thwapy and associated activlties throu8hout the Heart of England reg¢on. PUBLIC BENEFrr The trustees confirm that they have complied vrith their duty in sertion 17 of the Charities Act 2011 to have due regard to public benefft guidance published by the Charty Commission. Music Therapy Works promotes the advancemeat of mu51C therapy and Is open tothe majority of the publbc in need of music therapy.
Music Therapy WoA(s Annual Report and Financial Statements for the ended 31" August 2022 FINANCIAL REVIEW The charity had a deficit of income below expÈAdttU on the unrestritted fund5 of £10.513 dyrin8 the year. The balance on the unrestricted funds at 31" Au8U5t 2022 was £168.25712021= £178,770). The balance on the restricted funds was £11.37212021.. £5.6271. REsfRICTED FUNDS The restrtcted funds ha¥e been donated tothe Charityfor specrfic wrpose5 and are listed in note 11 to the accovnts. RESERVES POUCY The Board has agreed as policythat the free feserves of the organisation, defined as net current a55et5that are neither restricted Tror designated for specific purposes, should be sufficient to provide a reasonable working balance to meet commitments when they become due whilst recognising the possible delays in receipt of fee income due. It is consiOeTed that* given that 86% of annual turnover is usetl to lund staff costs, the reserves tar8et is best expressed In terms of p8yroll months. The Board has assessed tha¢ under £urrent (iftUmstan, the free reserves should be thè equivalent of 6 months, payroll costs. Using the average payroll costs from the 2022n023 b8$eL free reseThes shryjld be in the reglon of £156.195. At 31 Au8VSt 2022, non-designated Iree reseryes lexcludln8 lunctlonal taA8lble flxed assets) stood at £167.733. The stated strategy has therefo beèn achieved this year. The 8oard's reserves policy also reouires the Trusiees to rèassess any desi8n8ted funds annually when reviewln8 Its reserve5, SO that no funds are ntedlessty desSBnated and excluded from the calculation of free reserves. FINANCIAL RISK MANAGEMErir The Charity finances its operations through the 8eneration of cash from operatin8 actNrties and ha5 no interest rate exposure on financial liabilities. Liouidity risk is mana8ed through forecastin8 the future cash flow requirements of thè Charity and maintaining sufficient cash at bznk.
Music Therapy Works Annual Report and Financial Statsments for the year ended 31" August 2022 REPORT FROM THE CHAIR l am pleased to present our annual report forthe year ended 31 August 2022. Our Achievements In 2021122 Music Therapy Our talented team of therapists deltvered 4,753 hours of music therapy from I" September 2021 to 31" August 2022. There was a strong focus on schools and college5 that support children and young adults with Special Education Needs and Disabilities, although the charity worked in several other schoo15 too. Music therapy was also provided to adults in supported livin& a small number of adults with acqtlired brain Injury, and individuals with Profound and Multiple Leamin8 Disabilities. Only limited progress was made to address the current hea reliance on the education sector which was identified as an objective in the 2021122 Business Plan. New opportunities with a local hospital Trust, as well as with a large charity that builds and maintains retirement villages were developed. In May a Purchaser Sat15faction Survey was conducted. There were no ne8ative or critical responses, with the majority reflected by the following quotes.. "X is extremefy flexible and adaptable to the needs of our sthool and pupils. She Is able to build positlve relationships quickly with complex and often tUlt to reach children". has really gone above and beyond in thls role, and she is an extMe1¥ valuable member of our team.. also introduced online music therapy during lockdown to some of the students that was brllllant and well received by the famllies". All stsff tr31nlng tsrgets We met durin8 the year. This has enSUd that our clients are being 5UPPOrted by highly qualified and skilled muslc therapists who are being kept up to date wrth the latest developments and thinking within the profession. All staff had an annual perfOrrnan appraisal in the year, along with regular 1-2-1 meetings with the Chief Executive OffIr ICEOI. The Business Plan identrfied a 15% increase in the number of people supported each week by Music Therapy Works IMTWI on 31" August 2022 compared to that on 31" Au8USt 2019 li.e., pre the Coronavirus pandemlcl. The target figure of 265 was not achieved wth 179 people being supported weekly. This failure was due in part to staff illness, and more so to the historic high levels of staff tumover which led to the suspension of a number of contracts. 3 members of stsff left for music therapy posts in the NHS, 2 resigfted due to tncreasing travel costs. and I due to a family illne55 requiring relocation away from the MidlBnds. This was balanced by the recruitment of 3 staff in year. with a further 3 starting work in eaty September 2022. As a result of a successful fundraising campaign sufficient grant income was secured to purchase iPad5 and supporting equipment for all musi¢therapists. This has allowed many of the team to explore new method5 of music Creation which ha5 benefftted a large number of the charl$ clients.
Music Therapy Works Annual Report and Financial Statements for the y&v ended 31- August 2022 Governance There were no resignations of Trustees during the year. Dr Carrie Churnside was appointed to the Board on 13 December 2021. On 2 April 2022 Trustees and staff met for a MTWAway Day at the Midlands Arts Centre, Edgbaston. Birmingham. Thi5 created an opportunity for all those involved with MTW to discuss how the charity operates, and what its priorities should be in the future. It was also the first time since the Covid pandemic that Trustees and therapists We able to meet frd¢e-tO-fate. At Its meetlng on 6 June 2022 the Board agreed to the introduction of a ciproCal mentor schème which pairs a Trustee with one or MO music therapists. This has increased the mutual understsnding across MTW. FLbndraising concerts by the Printempo Orchestra from the Royal 8irniingham Conservatoire in April, and the Midlands Hospitals. Choir in July raised £307 and £570 respectively. In July MTW received an unsolicited 8rant of £4C(JO from the Rowan TrusL The Future The charlty has a robust and realistic 2022123 8usiness Plan in place. The Plan's tsrgets Include further developing staff and their health and wellbein& along with creatin8 more capacity to meet the continuln8 new demand fof our services; increasing diversity and the delivery of Services to underrepresented 8roup5' the maintenance of financial stabilty and sustainability,. diversifying service delivery beyond education, and continuing to consult with purchasers, service users, and stakeholders. The CEO will continue to participate in the online Provlder Forum meetings being run by the 8ritish Association of Music Therapists IBAMTI. This report has been prepared in accordance with the special pThisions for small companles under part 15 of the Companies Act 2CM)6. Signed on behalf of the Board John Clemson - Chair 27th February 2023
Music Therapy Works Annual Report and Financial Statements for the yw ended 31- August 2022 INDEPENDENY EXAMINEIYS REPORTTO THE TRusfEESOF MU%CTHERAPYWORKS I report to the trustees on my examination of the financial statements of MlC Therapy Works Ithe Charity) for the vear ended 31" August 2022. which are set out on page5 11 to 18. Responsibilities and bassof report As the Trustees of the Charity land also its directors for the purpose of company lawl you are responsible for the preparation of the financial statements in accordance with the requirements for the Companies Act 2006 (the 2006 Havin8 saii5fied myself that the finanaal statements of the (harity are not requlred to be audlted under Part 16 of the 2006 Act and are eligible for independent examination. I report in respeci of my examination of the Charitys financial statements carried out ndr se¢tion 145 of the Charities Act 2011 (the 2011 Act). In carrying out my examlnation, I have followed all applicable Directions given by the Charlty Commission under section 14SlSllbl of the 2011 Act. Independent examlnefs slat*ment Slnce the CharitWs gross income exceeded f 250.(W your examiner must be a mernber of a body1Ssted In sectlon 145 ol the 2011 Act. I confirrn that l am qtsalified to undertake the examination because l arn a member of the Instltute of Chartered Accountants In England and Wales. which is one of the liste<l bodies. I have completed my examlnatlon. I confirm that no matters have come to my •ttention in connECtlon with the examination giving me cause to belleve that in any material respert.. accounting records were not kept in pect of the Charity as requlred by sertion 386 of the 2LX)6 Act., or the financial ststements do not accord wr(h those records,. or the tinancial staiements do not compfy with theaccounting requirements of sertitsn 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 financial statements have not been prepared in accordan wrth the methods and principles of the Statement of Recommended Practi for accounting and reportin8 by charities applicable to charltles preparingtheiraccounts inaccordancewiththe Financial Reportln8Standard applitable inthe UKand Republlc ol Ireland IFRS 1021. I have no concerns and hève corne across no matters in connection wtth the examsnatioTh to which attention should bè drawn In this report In orderio enable a proper understand¥n8 of the financial statements to be reached. L E Parkes FCA Chartered Accountènt Parkes & Co 5 Cronda5 Pla. Birmin8ham B15 2LB Date= S 2• 13 10
Music Therapy Works Annual Report and Financial Statements for the y&v ended 31- August 2022 STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE AccouNr FOR THE YEAR ENDED 315f AUGusf 2022 2022 Total Funds 2021 Total Funds Fumls Funds INCOME FROM: Donation5 and legacies 9.916 19MI 29,797 8,217 Charitable Actrvities 227.050 227.050 241.370 Investments 1324 1,324 1,327 CJRS Grant 26,464 TOTAL 238.2 I981 258.171 277,378 EXPENDITURE ON: Charitable Activities 14,136 262.939 266,545 TOTAL 248,803 14.136 262,939 266,545 NET INCOMEIIEXPENS£I 110,5131 5,745 {4.768) 10,833 RECONCILIATION OF FUNDS Totsl Funds Brou8ht Forward 178.770 5.627 184.397 173,564 TOTAL FUNDS CARRIED FORWARD 168.257 11.372 179.629 184.397 The statement of financlal a¢tivÉties includes all gains and losses recognised in the year. All income and expenditure derive from tortinuin8 activities. The Statement of Financi31 Activities also complies wtth the requirements for an Income and Expenditure Accotlnt under the Companie5 Act 21))6. 11
Music Therapy Works Annual Report and Finanaal Statements for the y&v ended 31" August 2022 BALANCE SHEET AS AT 31 AUGUST 2022 2022 Total Funds 2021 Total Funds FIXED ASSErs Tangible Assets 524 524 Total Fixed A55ets 1,068 CURRENT ASSETS Debtors Cash at bank and in hand Totsl Current Assets 11,685 172.793 184.478 12.742 174.962 187,704 CREDITORS Amounts falling due withln one year 5,373 4,375 Net CuTrent Assets 179.los 179.629 183.329 184.397 TOTAL NET ASSETS THE FUNDS OFTHE CHARIT Unrestrlcted funds Restrirted funds io li 168,257 11,372 179.629 178,770 5.627 184,397 Total Charlty Funds The Company is ent?Iled to the exemption from the audit requirement contsined In sectlon 477 of the Companies Act 26 for the year ended 31 Au8USt 2022. The dlrectors acknowledge their responsibilities for complwng with the fequirements of the Companiès Att 2C¥)6 with respect to accounttn8 records and preparation of finanual statements. The members have not required the companyto obtain an audit of its financbal statements for the year In questlon in accordanre with section 476 of the Companies Act 21. These financi315tatements have been ppared in accordancewith the prowsions appllcable to companies subject to the small companies. regime and in accordaDce with FR5102 SORP. The financial ststernents were appro¥e(I bythe Trusteeson 27 February 2023 John Clemson- Trustee Company Registration No. 6663759 Andrea Howl-Trustee 12
Music Therapy Works Annual Report and Financial Statements for the y&v ended 31- August 2022 l. Accounting Policies Char Infonnation Music TherBPy Works is a private company limited by guarantee incorporated In England and Wales. The registe office is S Deansway. Worcester, WRI 2JG. Accountin The financial statements have been prepared in accordan with the Charl5 accounting policies and comply with the CharitVs Memorandum & Articles of Association. the Companies Act 2006 and the provisions of -Ac¢ountin8 and Reporting by Charttles- Statement of Recommende¢Y Prartice applicable to charities preparingtheir a¢counts in accordance with the Financial Reporting Standard applicable in the UK and the Republic of tland IFRS 1021" leffertive for accounting periods commencing l January 20191. The charity is a Public Benefft Entity as defined by FRS 102. The Charlty has taken advantage of the provisions in the SORP forcharitle5 apptying FRS 102 Update Bulletln I not to prepare a Statement of Cash Flows. The financial statements are presented in Stedin8, whlch Is the hjnctional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £. The Ilnancial statements have been ppared under the historical cost wnventlon. The principal accountin8 policles adopted are set out below. Gol Concern At the time of approv5ng the ftnancial statements, the Trustees have a reasonable expettation that the charity has adequate reSoUrS to continue in operational existence for the foreseeable future. Thus, the Trustees continue to adopt the going concern basis in preparing the financial statements. Incoml Resources Income is included in the Statement of Financial Activities when the charitable company is legallv entitled to the income. when it is probable that the in¢ome will be received and when the monetary value of the income can be measijred with sufficient reliability. Artivities Income from therapy fees,teaching and workshops are included in incoming resources in the period in which the relevant event takes place. Donotion5 ond Grants Income from donations and grants is sncluded in incoming resources when receivable, except as follows= Whe donors specify that donations and grants gNen to the charity must be used in future accounting periods. the income is deferred untÈl those accounting periods; when donors impose conditions that have to be fulfilled before the charity becomes entitled to use Such income. the income is deferred and not induded in irKoming resour$ until the pre-conditions for use have been meL 13
Music Therapy Works Annual Report and Finanaal Statements for the year ended 31" August 2022 when donor5 sperifythat donations and grants are for particular restricted purposes, which do not amount to prtrcondttions regarding entitlement, this income is included in incoming resources of restricted funds when reCeable. Resources Ex nded Resources expended are included in the StatemÈnt of Finanaal Activities on an accruals basis. Inclusive of any Value Added Tax that cannot be recoVed. Charitable artivities include expenditu associated with the provision of music therapy and both the direct costs and support costs lating to these artivities. Governance costs include those irKurred in the governance of the charity and Its assets and are primarily associated with constitutional and ststutory requirements. Tan ible Flxed Assets Tangible Fixed assets are initiaify measured at cost arid subsequently measured at cost orvaluation, net of depreciation and any impairment losses. Assets with an individLtal value of £5LN) or more are capitalised on the balance sheet. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expetted useful life as foll¢m. Muslcal instruments Office equipment 4 years 3 years Depreciation is not provlded on assets which have not yet been brought Into use. enslon Costs The charf(v operates a defined Contribution pension scheme for employee5. The assets of the scheme are held separatelyfrom those of the chority. The annual contrlbutions payable are charged to the ststement of financial activities in the period to which they relate. Fund Accountl Funds held by the charity are either. unrestrirted gener(Jl funds - these are funds which can be used in accordan with the charitable objects at the discretion of the tru5tees' designt7tedfvnds- these a unrestricted funds designated by the trustees for a particular purpose,. restrirtedfunds- these are funds that can only be used for particular restricted purposes withift the objects of the charity. Restrittion5 arise when specified by the donor or when funds are raised for particular restricted purposes. 14
Music Therapy Works Annual Report and Financial Statements for the year ended 31" August 2022 Financial Instruments Thecharity has elected to applythe provisionsof Section Il'Basic Financial Instruments, and Section 12 '0ther Financial Instruments Issues, of FRS 102 to all of its financial instruments. Financial instruments are cognised in the Chartvs balan sheet when the charity becomes party to the contractual provisions of the instrument. Financial assets and liabilrties a offset, wÉth the net amounts presented in the financial st3tements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis orto realise the asset and settle the liability sirnultaneously. 8oslcflnandal assets Basic Financial assets, which include debtors and cash and bank balances, are Initlalty measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method. Financial assets classified as receivable within one year are not amortlsed. Baslcflnandal Ilabllftles Basic financial liabilities. includlng ¢redFtors. are initially recognised at transaction price. FSnancial Ilabllitles classrfied as payable within one year are not amortised. Trade creditors are obligatlons to pay for goods or services that have been acq¥Jired in the ordinary course of operations from suppliers. Amounts payable are classthed as current liabilitie5 if payment is due within one year or le55. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at tran&iction price and Subsequent measured at amortised cost U5in8 the effertive interest method. Dere¢ognltlon offlnandalllabilitles Financial liabilities are dereco8nised when the thaT1S contractual obligations expire of a discharged or cancelled. Sl nfficant Jud ement Estlmates The preparation o* the financial ststements requires management to make judgements. estimates and assumptions that affectthe amounts reported. Theseestimates and judgements are contin¢Jally reviewed and are based on experien and other factors, includirt8 expectations of future events that are belleved to be reasonable underthe clrcumstances. 15
Music Therapy Works Annual Report and Financial Statements for the y&v ended 31" August 2022 Total Funds 2022 Totsl Fu Funds Dds 2021 2. Income frorn Charitable Adi%itses ml¢TherapY Fees 227M50 2271fA) 241370 3. Investment Incon DepositAccount Intefest 1324 1324 1.327 4. Go%wnment Grants Coronavlnsjob RetentlonscheGraTht 26.464 5. Charltsble Artmtles Costs ortco min Yotsl 2022 T1 202 S•l•ries & NI (Note 61 Other Staff and EquikThentCosts Admistration Costs 181A51 45027 227.278 7,751 8.710 266.54S 26.596 72A23 26.596 262.939 19)516 The Independent Examiner recefved £550 (including VATI in SpeCt of examination fees12021.' £5501. 6. Staff Costs 2021 Wages & Salariès Social Security Costs Pension Costs 215,424 81131 3.823 227,278 234.950 10,546 4.588 250.084 Total MneratIOn paid to key markagement personnel during the year was £23,15012021.. £28,750). During the year. the Charity employed 6 full time equivalent staff12021. 71 of which there was 112021.. 11 administrative stsff an(J 512021= 61 therapy staff. None of the dirertors receNed any emolument or reimbursement of expenses in respect of their services as Trustees of the charity. No indiwdual received emoluments equal to, or in excess of, £60,C(JO. 16
Music Therapy Works Annual Report and Financial Statements for the year ended 31" August 2022 7. Fixed Assets Musical Instruments Com uters & Total Cost at l September 2021 Additions Cost at 31 August 2022 3.563 4.972 3.$63 4,972 Depreciation at I Septemter 2021 Charge for the Year Depreciation at 31 Au8USt 2022 2.495 3.039 Net Book Value al 31 August 2022 524 524 Net Book Value at 31 Au8USt 2021 1,068 8. Debtors: amounts falllng due wlthln one year 20 2021 Debtors forTherapy Fees Accrued Income 10.726 959 11,685 11,937 12,742 9. Creditors: amount falling due wlthin one year 2021 raxation and Social Secuiity Other Creditors Accrua15 Deferred Sales Income 3.803 150 1296 124 5,373 3351 109 621 294 4,375 17
Music Therapy Works Annual Report and Financial Statements for the y&qr ended 31" August 2022 10. Unre$(ted Funds General Fund 16B257 178.770 li. Restrlaed Funds IrornIng Resources Resource5 Expended Net Inflowllouiflowlof Futsjs Funds at i se0emr2o21 Funds at 31 Aur 3022 5.364 L017 19MI 14,136 5.745 5,627 IlJ7Z 95 4,559 12.1591 7.786 5,627 4323 Loiy 5.627 12. AnalysSs ol N•t Ass•ts b•tw8qn Funds FuTrl BanCe$ll PJwt3L 2022 arerewesented trr. TawblE Current Assèts $24 167,733 168257 524 179,105 179.629 11.372 11.372 183,329 184.397 13. Related Party Transactlons There were no disclosable related party transactions durin8 the year12021- None). 14. Capltal Commltments Amounts contratted for but not provided in the finanaal ststemerits amounted to £012021.. £01. 15. Taxation Music Therapy Works is a registered charity and. therefore, is not liable to income tax or corporation tax on income and gains derwed from its charitable activities. as they fall within the various exemptions available to registered charities. 18