REGISTERED COMPANY NUMBER: 06778249 IEngland and Wales} REGISTERED CHARITY NUMBER: 1128586 REPORT OF THE TRUSTEES AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 FOR FUSION PLUS
FUSIOM PLUS CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AIARCH 2024 Page Report of the Trustees 1 to 4 Independent ExamlneVs Reporl Statemenl of Financial Activities Balance Sheet Notes to the Financial Statements 8 to 15
FUSION PLUS (REGISTERED NUMBER: 067782491 REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024 Tha trustees who ar8 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 31 March 2024. The tnjstees have adopted the provisions of Accounting and Reporting by Charities." Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Finanoal Rep)rting Standard applicable in the UK and Republic of Ireland IFRS 1021 leffeclive 1 January 20191. OBJECTIVES AND ACTIVITIES Mlsslon Staiement Music Fusion aims to access and engage children l young people through music. Our aclivities encompass our key objeelives.. Key Objectives To advance in lrfe and help Ghldren arml young pee by organi5ing w¢yJrawnmes of music and relaled activities so as lo develop their ikills. pacitIeS. aThJ capabilities to enatJe them lo participate in society as independent, mature and responsible individuals. To advance the arts, in particular the art of MUS for public benefit. To advance the education of the public. in partIlar children and ywng people and those who assist young people in music and related arts. Public Benefrt The trustees confirm that they have referred to the guKlance contained in the charity commission's general guidance on public benefil when reviewing the charty's aim5 and objective5 and planning fLrtute actsvib"e5. The trustees refer lo wblic benefit Ihroughoul this report_ Page 1
FUSION PLUS (REGISTERED NUMBER: 067782491 REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024 ACHIEVEMENT AND PERF(XiMANCE Public Value Since Setting up as an independent tharty in 2009, Music Fusion have continued to develop appropriate systems of governance and delivery. We havè successfully raised the required fjJnding to deliver a complète and 8ppropriat6 programme of aclivty. We have continued lo develop our highly successful progression routes to encourage engagement, progression and exllen. Provision Skills on offer included Mcing. freestyTing. singing. music tech and instrumental skills (bass. guitsr. drums. keyboards, voc2lsl. These sessi$ are ideal places for agencies to refer young people who are regarded as al risk. We worked with our Ioc81 authorities. youth offending teams. children and adult services. special education units ané wider young people's charrties. Progre5slon opportunities Our prograrnme continued lo offer wogre55ion opportunits.es for our young pEople. Thi5 in¢lude(I free reheat5al I recording at our own East Street Studh). We offered live Perf0rnan opportunitEs. We promoted our young artisls via our extensive social media presence. Our workshops provided excellent diversionary activity for young people. It taught them transferable skills such as teamw)rk, Communicat)n. negctiation, professionalism, crrtical thinking and empathy as well as boosting their confidence, self-esleem and resilien. . Music Lab - sUpping young artist development. Music Lab provided regular suslained music making opportunities that enabled young people to progress their skills through taster sessions, 1-2-1 rnentoring. rehearsing. recoiding and perlormiry as well a5 artist developrnenl. The programme specialised in conlemtK)rary genres I new nwsic. Mavericks - offering young people facing lough times a safe plxe to Coreate, explore and make music. Mavericks is an ongoing project that bridges feuding ciThmunities through music. Mavericks shows the path lo a bigger picture. a better perspective. Going lo prison for a postcode or a rift on social media is Ihe biggest waste of a life. The project brings everyone together to celebrate their individual talents and show how people from different areas can put aside their differences, make peace and collabiyale to make great things happen. New Music Lèad•r Programme- opportuniiies for continuing professional dèvelopmènt. Music Fusion have continued our programme where we took young peop who had excelled al Music Fusion and trained them up to become paid Music Leaders. The Frogramme was sucSsh11 and rK)w we have six young people who now work for us. Music Fusion see the value of empk>ying our young partbcipanls a5 Music Leaders= - They have lived expefjen of the saroe Ghallenges Qui young people fa. - They have attended Music Fusion as a young person undersland how cyjr programme works first hand. In 2023-2024 Music Fusion brokered funding from the Blagrave Tnjst to deliver this Pr[amMe of work. Page 2
FUSION PLUS (REGISTERED NUMBER: 067782491 REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024 FINANCIAL REVIEW Music Fusion raised £166,694 in funding during 202>24. This came from a range of SOLJrcès I partners including Harnpshire County Council, The Blagrave Trust and Youth Music. A proportion of our in(xme came from Df9anisalions who rsised their own funds to buy in our services. MU¢ Fusion also raised a proFK)rtion of our incom6 through donations and corpoote social responsibility. Reserve Polity Our Strat1¢ plan outlines that we should build our reserves to L70.IJIO {6 months. worth of trading). Our strategic plan also ouuines a PLAN B, which would be instigated rf (r c4)re Youth Music funcling We reduced or dropped entirely. Plans for thè future Our aims and objgCtiv@s continue to inspir8 th8 dèvelopmènt of our èxisting programme as well as consultslion with our partners l young people which is helpiru to develop new prograrnmes for 2024-29. Through our Blagrave Trust fundirbg we are investing time in training up the next generation of Music leaders, ensuring we remain inclusive, relevant and aulhenli¢ in our offer. We have plans going forward lo deliver our Mavericks prograrnme with across Hampshire and then nab'onally. greauy irKreasiThJ our reach and impact. Music Fusion are very much aware that our Crn1 eeonomic environment is a strong threat to OLJr sector. Our strategic plan has been revisited lo mzximise our security-. Income diversity. resilien and sustainabilty during this period. We have built on a sel of key miligalions to address potential threats includiw Ioss of income, venue, partners 3nd you people. Through this ongoing strategy Y4e have continued to redw oui ovetheads and increase engagement l outputs. STRUCTURE. GOVERNANCE AND MANAGEMENT Induction and training of trustees Trustees are given an induction induding guidelines for the resFX)nsibililies of trustee directors. last years independenuy examined accounts, the minukes from at least three prevK)us rneelings. our strategie plan and the Memorandum and Artides of Association. Organisation The board ol trustee directors administers the charite Cornpany. The board meets al least three times a year. It decides over all policy for the or9anisalion based on its objectives and delegates the day-to4ay management to the chief executive offer, who is not a member of the board and is a paid empk)yee of the charrtable company. Umbrella I related parties Youth Music has provided essenlial funding to the ChaiitaNe Company from 2CK)9. Programmes in Portsmouth, Havant, Gosport and Fareham were hence refetted lo as the Youth Music AGtion Zone,. In April 2012 Youth Mu8iG reslruGlured the way they distributed their funds. Youth MUS Action Zones were disbanded. Youth Music are no longer an umbrella I related party. REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number 06778249 (England and Wales) Registered Charity number 1128586 Registered office The Spring Arts & Heritage Centre 56 Easl Street Havant Harllpshire P09 18S Page 3
FUSION PLUS (REGISTERED NUMBER: 067782491 REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024 Trustees I Piper D Barton Miss E West-Thomas M Buchan A Tait R Collett K Loader Appointed 3 July 2023 Appointed 17 June 2023 Chief Executive J Prowse Company Secretary J Prowse Independenl Examiner Stuart Mackie Morris Crocker Chartered Accountants Station House North Slfftel Havant Harnpshire Pog 1QU Bankers National Westminster Bank PIC 23 West Street Havanl Hampshire P09 1EU The charity operales Urer the name Music Fusion. Approved by order of the board of trustees on 7 December 2024 and signed on its behatl by: M Buchan - Trustee Page 4
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF FUSION PLUS Independent examinèr's report to the trustees of Fusion Plusllhe Company'l I report to the charity trustees on my examinalion crf tt)e accounts of the CJmpany for the year ended 31 March 2024. Rasponsibilitigs and basis of raport As the charity5 trustees of the Company land also rts directors for the purposes of company lawl you are re5FX)nsible for the prèparation of the accounts in accordance with the requirements of the Companies Act 20061'th6 2006 Act'}. Having satisfied myself that the accounts of the Company are rK>t required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, l Teport in respect of rNy examination of your charity's accounts as carried out under Section 145 of the Charities Acl 2011 {'the 2011 Ad'l. In wrying out my examination I have followed the DItionS given by the Gharity Commission under Section 145151 Ibl of the 201 l Act. Independenl examinèr's statement I have completed my &xamination. I confinm that no mall&rs have o)me lo my allention in connection with the examination giving me cause to believe.. accounting record5 were not kept In respect of the Cownpany as required by Seth"on 386 of the 2006 Act., or the accounts do not accord with Ihose records. or the accounts do not comply with the accountiro 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 consHJÈred 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 Pracknce for aecoLJnting and rep(xting by charities lapplicable lo charities preparing their accounts in accordance with the Finan(ial Rep(KtitwJ Standard appluble in the UK and Republic of Ireland IFRS 102}1. I have no concerns and have come across no other matters in connection wth the examination to which attention should be drawn in this report in ordet to enable a propEr understanding of the accounts to be reached. stuart Mackie Morris Crocker Chartered AcGountants Station House North Street Havant Harllpshire P09 1QU 9 December 2024 Page 5
FUSIOM PLUS STATEMENT OF FINANCIAL ACTivmES IINCORPORATING AN INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 MARCH 2024 2024 Total lunds 2023 Totsl funds Unrestricted funds Restricted funds Notes INCOME AND ENDOWMENTS FROM Donations and legacies 6,444 16,751 Charitable activities Music delivery sessions and music studio Totsl 96.831 103,275 63.417 63,417 155.928 172,679 166,692 EXPENDITURE ON Charltable actlvltles Music delivery sessions and rnusic studio 69.491 74,811 144,302 141,064 NET INCOME1(EXPENDUREj 33,784 11,394 22.390 111,3941 11.394 22.390 31,615 Transfers between funds Net movement In fun(ts 15 22.390 31,615 RECONCILIATION OF FUNDS Total funds brought forward 114.315 114,315 82,700 TOTAL FUNDS CARRIED FORWARD 136,705 136,705 114,315 The notes fomi part of UEse fttianual statements Page 6
FUSION PLUS (REGISTERED NUMBER: 067782491 BALANCE SHE 31 MARCH 2024 2024 2023 Notes FIXED ASSETS Tangible assets 1.499 556 CURRENT ASSETS Debtors Cash at bank and in hand 12 12,207 129,038 141.245 2,227 113,275 115,502 CREDITORS Amounts falling due Milhin one year 13 16,039) 11,7431 NETCURRENT ASSETS 135.206 113,759 TOTAL ASSETS LESS CURRENT LIABILITIES 138,705 114,315 NET ASSETS FUNDS Unrestricted funds TOTAL FUNDS 136,705 114,315 15 136.705 136.705 114,315 114.315 The charitable company is enlilled to exempkn.on from audit under Section 4T7 of the Companie5 Act 2W6 for the year ended 31 March 2024. The members have not required the Company to obtain an audit of its financial st2temenls for the year ended 31 Mareh 2024 in accordance with Section 476 of the Compan$ Act 2006. The trusiees acknowledge their responsibilities for {al ensuring that the charitable company keeps accounting records thal comply with Section5 386 and 387 of the Cornpanies Act 2006 and prep*ing financial slalemenls which give a true and fair view of the stale of affairs of the charitable company as at the end of each financial year and of its SLrplus or deficit for each financial year in accordance wilh the reqU1ments of Sectic$ 394 and 395 and which othewse comply wlh the requirements of the Companies Act 2006 relating lo finanaal statements, so far as applicable lo the charitable company. Ibl These financial statements have been prepared in accordance wilh the provisi$ applicable lo charilable companies subjeet to the small companie5 regime. The financial statements were approved by the Board of Trustees and authorised for issue on 7 Dember 2024 and were signed on its behalf by.. M Buchan - Trustee The notes fomi part of UEse fttianual statements Page 7
FUSIOM PLUS NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 ACCOUNTING POLICIES Basis of preparing the financial statements The financial statements of the charitable company. whTrch is a public benefit enlity under FRS 102, have been prep¥ed in aOrdance the Charities SORP IFRS 1021'Ac¢ounling and Reporting by Charities.. Statement of Recommended Pra¢li¢e applicable to charities preparing their accounls in accordan with Ihe Financial Reporting Standard applicable in the UK and ReDulAic of Ireland IFRS 1021 leffectwe 1 January 20191,, Financial Reporting Siandard 102 'The Finanual Reporting Stsndard applicable in the UK and Republic of Ireland, and the Companies Act 2006. The financial statements have been prepar under Ihe historical cost convenbon. The tnJstees consider that there are no material urtertainties regarding the charity's ability to continue as a going concern. Incorne Ail Incowne 15 recognised in the staterrn1 of Finan(aal Activits"es once the charity has enb'tlemerrt to the fund5, 11 is prob*le that Ihe income will be r1Ved and the amounl Can be measured reliably. Expenditure Liabilfties are recognised as expenditure as sn as there is a legal or constructive obligation committing the charity to that expenditLJre. It is probable that a transfer of ettjnomic benefits will be required in settlement and the amount of the obligation can be measured reliabfy. Expenditure is accounted for an accruals basis and has been classified under headings Ihal ag Jregale all cost related to the category. Where costs Gannol be directly attributed to particular heading5 they have been alloGate¢ to adivilies on a basis constslenl wilh the use of resimjrces. Tangible fixed assets Depreciation is provid&J at the following annual rdtes in order lo wrtte off eaeh asset over ils estim8ted useful lifè. Fixlur9s and fittings Cornputer equipfflent 10°h on cost 33¥0 on (x)st Individual fixed assets costing £100 or more are capilalised at cosl. Taxation The charily is exempt from corpcffalion tsx its charitable activities. Fund accounting Unrestricted funds can be used in accordan with the charitable objectives at the discretion of the trustees. Restricted funds can onty be used for particular restricted purtMJse5 Within the objects of the charity. Restriction5 arise when specifEd by the domr or when fijnds are raised for particular restricted purposes. Further explanaty'on of Ihe nature and purpose of eath fund is induded in Ihe noles lo Ihe financial slalements. Hire purchasè and lèasing commitments Rentals paid under operating leases are tharged lo the Statement of Financial Activities on a straight line basis over the period of the lease. Pension costs and other post4etlrement benefits The charitable Gompany operates a defined contrilMJtion pension scheme. Contributions pay8ble lo Ihe charitable Company's pension scheme are charged lo the &atement of Financial Activities in the period to which they rdale. Page 8 continued...
FUSIOM PLUS NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024 ACCOUNTING POLICIES - continued Financial instruments The charity only enters into basic financial insJuments transactions that result in Ihe recognition of financial assets and liabilities like trade and other accounts [e1¥8b1e and payable and investments in stocks and shares.The measurement basis used for these ir6truments is detaled below. Debtors and cash at bank Tra(Je and other debtors are recognised at Ine settlement amount Oue after arny Irade discount offered. Prepayments are valued at the amount prepaKJ nel of any trade discounts due. Cash at bank and in hand includeé cash held on deposit c* in a current 8c¢y)unt. Creditors and provisi¢Ms Credilors and provisions are recogr)ised where the char ty has a present obligalior) resulting from a past evenl that will probably result in the transfer of fund5 to a third party and the awnounl due to settle the obligation be measured or estimated reliably. Creditors and provisions are nomialty recognised al their selllemenl amount after allowin9 for any trade discounts due. DONATIONS AND LEGACIES 2024 2023 Donations INCOME FROM CHARITABLE ACTivTfiES 2024 2023 Aciivity MLJSIC delivery SeOnS and mus studio Music delivery sewons and mus studio Music delivery seswons and mus studio Grants 99.917 99,353 Other income 393 415 Invoicèd inei)m8 59,938 160 248 56.160 155.928 Grants received, included in the above, are as follows.. 2024 2023 Youth Music Blagrave Trust Gathdd Weslon Mavericks 25,995 16.500 74.353 15,000 lo,0 Page 9 continued...
FUSIOM PLUS NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024 CHARITABLE ACTIVITIES COSTS Direct Costs (see note 5) Supwrt costs Isee notè 61 Totals Music delivery sessions and mus studio 97.772 144 302 DIRECT COSTS OF CHARITABLE ACTMTIES 2024 2023 Staff costs Music leader fees Equipment purchased 36.360 61.135 277 35,918 48.610 280 SUPPORT COSTS Govem8n¢e costs Management Totals Music delivery sessions and mus studio 45.570 960 Support costs, included in the aiNJve. are as follows.. Managoment 2024 Music delivery sessions and music studKJ 2023 Total activities Wages Social security Pensions Rent Insurance Te18phone Office expenses Sundries Travel expenses Bank Charges Bookkeeping and payroll costs Subs¢riptions Training Depreciation of fixed assets 23.309 2,251 575 12,199 1.867 712 2,398 371 265 155 72 162 28,432 2.365 573 12,082 1,433 624 249 507 3,160 72 75 250 5,504 55,326 1.234 Page 10 continued...
FUSIOM PLUS NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024 SUPPORT COSTS- continued Governance costs 2024 Music delivery sessions and music studio 2023 Total acliviligs Independent examinerS fees 980 930 NET hNCOMEIIEXPENDITURE) Nel inc0me1lexpendireI is staled after Chargin((editingI-. 2024 2023 Depreciation- owned 3ssgts Other 0ratir@ leases 1,305 5,504 TRUSTEES. REMUNERATION AND BENEFITS There were no trustees. remuneratK)n or other benefits for the year ended 31 Marth 2024 nor for the year ended 31 March 2023. Truslees. expEnses During the year no trustees {2023.' nonel were reimbursed out of rAickel eynses12023.' £Nill. STAFF COSTS 2024 2023 Wages and salaries Social security costs Other pension costs 59.689 2,251 575 64.350 2,365 573 Key manag8m&nt personnel consist of the Chi8f Ex@tiVe Offic8r of which total r8muneration for th@ y8ar was £36,63512023.. £39.3531 The average monthly number of employees during the year was as follows.. 2024 2023 Direcl charitsble No employees received emoluments in excess of £60.000. Page 11 continued...
FUSIOM PLUS NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024 10. COMPARATNES FOR THE STATEMENT OF FINANCIAL ACTIVITIES Unreslricted funds Restricted lunds Total funds INCOME AND ENDOWMENTS FROM Donats'ons and legacies 16,751 16.751 Charitable activities Music delivery sessions and musTrc slji0 Total 81.575 98,326 74.353 74,353 1 $5.928 172,679 EXPENDITURE ON Charitable activities Music delivery sessions and rnuS studio 76,312 64,752 141,064 NET INCOME Transfers between funds Net movement in funds 22,014 113.941 135.955 9,601 113.9411 {104.3401 31,615 31,615 RECONCILIATION OF FUNDS Total funds brought forward {21,6401 104,340 82,700 TOTAL FUNDS CARRIED FORWARD 114.315 114315 11. TANGIBLE FIXED ASSErs Fixtures and fittings Computer equipment Totals COST At 1 April 2023 AddilK)ns At 31 March 2024 DEPRECIATION At 1 April 2023 Charge for year At 31 March 2024 NET BOOK VALUE At 31 March 2024 At 31 March 2023 25.524 20,466 2.248 22,714 45.990 2,248 48,238 25.524 25.170 354 25.524 20,264 951 21.215 45,434 46.739 354 202 556 Page 12 continued...
FUSIOM PLUS NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024 12. DEBTORS.. AMOUNTS FALLING DUE WITHIN ONE YEAR 2024 2023 Trade debtors Prepayments 12.207 360 13. CREDITORS: AMOUFs FALLING DUE wrfH14 ONE YEAR 2024 2023 Trade Creditors Other creditors Accrued expenses 3.448 1,673 918 867 876 14. ANALYSIS OF NET ASSETS BETWEEN FUNDS 2024 Total funds 2023 Tolal funds Unrestricted funds Restricted funds Fixed assets Current assets Current liabilitS 1,499 141,245 1.499 141,245 6.0391 556 115,502 1,7431 114315 136.705 15. MOVEMENT IN FUNDS Net movement in funds Transfers belween funds At 31.3.24 At 1.4.23 Unrestricted funds General Funds 114.315 33.784 111.3941 136,705 Restricted funds Youth Music 111.3941 11.394 TOTAL FUNDS 114,315 22,390 136,705 Nel movement in funds. includ1 in the above aft as foll(XVS'. Incoming resources ReSoUrS expended Movement in funds Unrestricted funds General Funds 103,275 {69,491) 33,784 Restricted funds Youth Music 63.417 174.811 } 111,3941 TOTAL FUNDS 166.692 144,302} Page 13 continued...
FUSIOM PLUS NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024 15. MOVEMENT IN FUNDS - continued ComparatSves for movement In funds Net movement in fvnds Transfers belween fvnds Al Al 1.4.22 Unrestricted fijnds General Funds 121.640) 22.014 113.941 114,315 Restricted funds Youth Music 104.340 9.601 1113.9411 TOTAL FUNDS 114315 Cornparative net movement in funds, included in the above are as follows.. Incoming resour$ ReSoUrS expendeil Movement in funds Unrestricted funds Geneol Funds 98.326 176.312} 22,014 Restricted funds Youth Music 74.353 (64.7521 9,601 TOTAL FUNDS 172.679 141.064) General Fund This consisls of the general. unrestricted aclivitses of Ihe ¢harity. which indudes the Early Years project, Ihe Beam Team band. the Radio Show, as well as other attivities and core cosls. Youth Muslc This is a project lo fund music &tiviti8s for young people. Transfers b0fveTh funds The Irdnsfer between unrestricted to restricted funds this year was to fund a shortfall on restricted funding. Page 14 continued...
FUSIOM PLUS NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024 RELATED PARTY DISCLOSURES There were no related paty transactvjns for the year ended 31 March 2024. 17. ULTIMATE CONTROLUNG PAR The charitable company is not urKler the control of another entity OK any one individual. Page 15
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