Charity registration number 1130710
Company registration number 06821503 (England and Wales)
MUSICLINKS LIMITED
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023
MUSICLINKS LIMITED
LEGAL AND ADMINISTRATIVE INFORMATION
| Trustees | Andrew McKay |
|---|---|
| Trevor Avery | |
| Stuart Downs | |
| Andrew Deakin | |
| James Darrington | |
| Charity number | 1130710 |
| Company number | 06821503 |
| Registered office | Woodside Garth Row |
| Underbarrow | |
| Kendal | |
| LA8 8AY | |
| Independent examiner | Ben Moffat FCCA |
| Ground Floor, Meadowbank House | |
| Meadowbank Business Park | |
| Shap Road | |
| Kendal | |
| Cumbria | |
| LA9 6NY |
MUSICLINKS LIMITED
CONTENTS
| Page | |
|---|---|
| Trustees' report | 1 - 5 |
| Independent examiner's report | 6 |
| Statement of financial activities | 7 |
| Balance sheet | 8 |
| Notes to the financial statements | 9 - 13 |
MUSICLINKS LIMITED
TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) FOR THE YEAR ENDED 31 AUGUST 2023
The trustees present their annual report and financial statements for the year ended 31 August 2023.
The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's governing document, the Companies Act 2006 and "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
MusicLinks works to educate the public in the art of music. We assist disadvantaged people and communities by responding to the needs of those living at risk of isolation and/or living in rural areas, primarily those living with disabilities.
Activities undertaken in relation to those purposes
In the pursuit of our charitable purposes in the last year we have continued to deliver music education workshops, which are free at the point of access in disadvantaged areas. We’ve worked extensively with special schools, day care centres and the bedbound, supporting those with learning difficulties in South Lakeland, Eden, Barrow and Carlisle. In the period covered by this report, we have delivered exclusively in Cumbria, although we remain open to working further afield as and when the need may arise.
Public benefit
The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake.
Activities
MusicLinks main activities for the public benefit 2022-23
In order to support our charitable purposes, the Chief Executive Officer/Music Leader and team have drawn down funding from a variety of local and national trusts and foundations to fund the further development and delivery of one main music project and associated workshops: JamTent and MicroFests 2023 (J&M23). This project was devised support people with additional needs, refugees, and artists living in exile. The project proved a great success.
J&M23 provided music workshops for vulnerable people with disabilities at risk of isolation. We taught them new skills andintroduced instruments and jamming techniques, which empowered them andbrought some fun to their lives and those of the audiences involved. We coordinated the project via promoters across the UK and EU, ensuring the inclusion of isolated artists seeking sanctuary living in exile. In doing so, we allowed them to play music with/for new audiences and tell their stories. Participants, audiences and artists shared a sense of mutual compassion. In line with our aims, we increased social connections across different cultures and socioeconomic backgrounds and raised the profile of the community groups and artists involved. Our team comprised high-quality music teachers, including the head of music at West Lakes Academy in Egremont, the director of Music from Kings School Canterbury, and the Lead Musician from Annie Mawsons Sunbeams, amongst others. Our partner, Stuntfox Promotions, booked the bands via KC and the artists in exile in collaboration with agencies in the UK and France.
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MUSICLINKS LIMITED
TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2023
With the recent addition of satellite festivals (MicroFests) live linked to KC, we are attempting to impact Cumbrian culture incrementally and that of the music industry. We hope that in the future, we can engage more local promoters and artists and encourage them to join us in changing people's attitudes to bring about a more inclusive music scene and society, meaning that the broader community gets to meet and make music with people who are all too often left
outside of the mainstream and certainly do not get included often enough by local promoters or bands who all too often stage performances without considering people with SEN/LD. We also increased the skills and music-making options available for attendees of YouthAbility who staged the MicroFest event in Barrow and are pleased to note that, as a result, YouthAbility service users are keen to visit Kendal Calling in 2024, something they did not feel confident enough to do in 2023.
This year, we featured a blend of artists such as Raghad Haddad, Hamsa Mounif, Karam Alzouhir, World Harmony Orchestra, Reverend and the Makers, Murder Capital and Somebody's Child, amongst others, a diverse, stimulating and enjoyable roster of artists.We also sent a team to the BlueDot Festival to run workshops, liaise with the BlueDot team and carry out risk assessments before launching the Jamtent there in 2024. Unfortunately, the weather and resulting flooding were so bad that BlueDot 2024 is now cancelled. Therefore, we now look to start at BlueDot in 2025 instead.
We started by learning what we could via the workshops, sending music leaders and technicians to Barrow to teach and understand the best way to deliver the main events. Access issues and risk assessments were discussed and drawn up.
The sanctuary artists and their agents couldn't have been more helpful. Still, language barriers and technological issues were instructive. We gained a valuable picture of what we need to do in the future to improve things. Using other platforms, as Roberta Beattie (ACE) has suggested, such as ELK and JamKazam, will enhance the project in the future, replacing Zoom, which, although good, has specific built-in parameters that get in the way of glitch-free musical engagement. As we move forward, we aim to enhance the resources available to artists in exile, address audio related problems, and improve their overall chances of employment. To this end, MusicLinks has costed for 12 Focusrite Studio Bundles to be included in our 2024 fundraising bid/s.
We received great support from partners and local press:
https://www.nwemail.co.uk/news/23632489.charity-organises-music-fest-people-disabilities-barrow/
Below is some feedback drawn from project evaluations:
"Success is a tough measure for us to demonstrate with the range of abilities of the people we work with. The first Barrow Microfest was brilliant and has built up a lot of confidence in our young people. It has inspired us as an organisation to introduce more music in our sessions and explore how we can incorporate music with the youth work process" Les McLeese – YouthAbility Barrow.
A recent evaluation carried out by Day Services:
"We asked the group of service users what MusicLinks projects mean to the service users.
•The socialising with other people outside of their normal social network was of great importance.
•Workshops feel inclusive, and service users feel safe in the environment, which is of great importance to people who feel vulnerable.
•Experiencing music of all kinds from all cultures, they found interesting and informative.
•They loved the range of groups/bands and singers.
•They loved that they could express themselves through dancing without feeling judged.
•The musical instruments enabled them to join in and have great fun as a team of staff who support the service users, we hope the great work MusicLinks does in bringing people together through music will continue as the rewards and opportunities this provides our users are fantastic and valued."Heather Dixon, Locality Manager DMH Kendal and Eden Day Services/Care Services
This year, we worked with StuntFox promotions for the first time, who helped book artists and run the events daily. Here is a personal view from Piers Miller, director of StuntFox:
I initially agreed to help with booking the JamTent at Kendal Calling and the MicroFest in Barrow because it seemed like an excellent way to earn some extra cash whilst helping out a good cause; little did I realise that I was about to embark on a journey that would revitalise my belief in the power of music and be personally moved by that power in action.
My brief was twofold.
Firstly, book artists already playing at the festival on another stage to play JamTent. I felt this was pretty much in my wheelhouse, having been an independent music promoter and festival stage curator for more years than I remember. I started at the top of the bill, pulling some favours with friends and agents and worked my way down. It - was a bit of an eye opener to receive the responses. I was surprised that some artists I had, at best, a tenuous connection with readily agreed to fit us in, yet some artists I had a personal relationship with turned us down. Still, - 2 - gradually, the slots were filled with fantastic acts.
Secondly, I was tasked with booking artists in exile - refugees living in the UK, France and Ireland who would join us
MUSICLINKS LIMITED
TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2023
Volunteers
As with previous years our volunteers worked hard throughout and did a terrific job. The young team working at KC brought a great deal of enthusiasm and commitment to the project. As for family/carers, we couldn't have done it without them, especially as so many took on the task of driving in and out of Kendal Calling. As such, the in-kind support levels were higher than predicted. Our volunteers are recruited either by word of mouth or recommendation. As in previous years, volunteers were not paid for their time but were paid for any out-of-pocket expenses including: travel, postage and telephone costs, essential equipment, such as PPE and were all provided with or, reimbursed for, refreshments.
Spending
In delivering our work for the public benefit, in line with our purposes, we have paid the CEO/Lead Musician for project development, workshop delivery, fundraising and general management tasks. We’ve spent the largest part of our budget on project costs i.e. engaging the services of Music Leaders, local and world-class music artists, and bands and as usual the bulk of our spending took place between July and September as we delivered our summer events.
As in previous years the costs of servicing costs of the main vehicle used for transporting gear to workshops have been partially covered by the charity. To ensure the safety of our beneficiaries we have carried out risk assessments to identify any risks of harm. We have delivered workshops mainly in situ at community/day-centres and special schools.
Achievements and performance
Significant activities and achievements against objectives
The primary achievement of this year has been the return to Kendal Calling for the first time since 2019, along with the programming and delivery of a varied and exciting workshop program and the setting up of a new Micro-Fest in Barrow with new partners that proved successful. Returning to Kendal calling brought many logistical and technical challenges. The team we drew together to deliver both projects proved efficient, professional and ultimately committed to bringing about the best outcomes possible. The music created by the groups and guest artists is now listenable/viewable within a freely available online interactive musical instrument. The archive of artists and community contributors will henceforth be promoted to local schools and youth groups in the long run. The archive will continue to grow in the future, funding permitting.
We worked with bed-bound beneficiaries with extremely limited movement as well with a wide variety of groups catering for special needs. In doing so, we also created new music ensembles that were all-inclusive irrespective of skill, ethnicity, or socio-economic backgrounds.
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MUSICLINKS LIMITED
TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2023
Financial review
As with previous years our finances are built around the delivery of projects in the spring and summer, reviewing and reporting in the autumn and then fundraising in winter into spring. During the winter/spring period remaining funds are used to ensure the administration and fundraising team can continue working effectively in order to raise funds for and deliver the spring / summer programme. Due to the fact that we are not a ‘regularly funded’ organisation we continue to rely on project-by-project funding via trusts and foundations.
Therefore, we continue to operate a no reserves policy. Although we acknowledge the financial risk from the possibility of unforeseen expenditure, a shortfall in income, or an inability to control costs, we continue to operate this way and have therefore worked in recent years to ensure that our administrative costs are kept as low as possible and at a sustainable level. We’ve employed people on a purely freelance/sessional basis, improved our levels of voluntary support and mainly run the charity from home. Apart from the storage facility we rent on a monthly basis in Witherslack and the occasional on-costs relating to electricity, heating, phone/internet and travel costs, we have reduced our administration costs significantly (by around 80%) in the last 12 years in order to reduce risk and ensure the overall resilience and sustainability of the charity. However, it remains a responsibility of the administration and trustees to continue to research and develop ways to:
-
implement a sustainable reserves policy
-
raise the necessary funds to generate reserves at around 12% annually
-
diversify our funding base
-
mitigate the risks that might arise if the charity has to close suddenly
During this reporting period we have drawn down funding support from a variety of Trusts and Foundations.
All related expenditure/funding outlined above was drawn down in order to support JamTent and MicroFest 2023 project and associated workshops, live events, administrative costs, and to enable the overall development of our charitable work.
Structure, governance and management
MusicLinks continues to operate as a company limited by guarantee in accordance with the procedures outlined in our: MEMORANDUM AND ARTICLES OF ASSOCIATION INCORPORATED 17 FEBRUARY 2009 AS AMENDED BY SPECIAL RESOLUTION 25 JUNE 2009
The trustees who served during the year and up to the date of signature of the financial statements were: Andrew McKay
Trevor Avery Stuart Downs Keith Redfern (Retired 25 January 2024) Andrew Deakin James Darrington
Recruitment and appointment of trustees
All Trustees are consulted when appointing new Trustees, but if all are unavailable then it falls to the Directors of MusicLinks Limited and the Chief Executive Officer.
Chief Executive Officer: Andrew Halsey
Trustees Statement
We the Trustees of MusicLinks confirm that we are aware of and have had regard to the Charity Commission’s guidance on public benefit. We are aware that this is a Legal requirement in line with the Charities Act when exercising any powers or duties to which the guidance is relevant. As such we have taken it into account when making decisions to which the guidance is relevant and have not decided to depart from the guidance, unless we have had good reasons for doing so.
Contribution made by Volunteers
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MUSICLINKS LIMITED
TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2023
The trustees' report was approved by the Board of Trustees.
James Darrington
James Darrington (May 24, 2024 09:27 GMT+1) James Darrington Trustee 23 May 2024
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MUSICLINKS LIMITED
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF MUSICLINKS LIMITED
I report to the trustees on my examination of the financial statements of Musiclinks Limited (the charity) for the year ended 31 August 2023.
Responsibilities and basis of report
As the trustees of the charity (and also its directors for the purposes of company law) you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006 (the 2006 Act).
Having satisfied myself that the financial statements of the charity 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 the charity’s financial statements carried out under section 145 of the Charities Act 2011 (the 2011 Act). In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
Independent examiner's statement
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 that in any material respect:
-
1 accounting records were not kept in respect of the charity as required by section 386 of the 2006 Act; or
-
2 the financial statements do not accord with those records; or
-
3 the financial statements do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination; or
-
4 the financial statements 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 financial statements to be reached.
Ben Moffat FCCA
for and on behalf of Douglass Grange
Ground Floor, Meadowbank House Meadowbank Business Park Shap Road Kendal Cumbria LA9 6NY
Dated: 23 May 2024
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MUSICLINKS LIMITED
STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 AUGUST 2023
| Restricted | Restricted | ||
|---|---|---|---|
| funds | funds | ||
| 2023 | 2022 | ||
| Notes | £ | £ | |
| Income from: | |||
| Donations and legacies | 3 | 45,486 | 45,906 |
| Expenditure on: | |||
| Other | 7 | 48,168 | 46,253 |
| Total expenditure | 48,168 | 46,253 | |
| Net income/(expenditure) for the year/ | |||
| Net movement in funds | (2,682) | (347) | |
| Fund balances at 1 September 2022 | 10,920 | 11,268 | |
| Fund balances at 31 August 2023 | 8,238 | 10,921 |
The statement of financial activities includes all gains and losses recognised in the year.
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006.
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MUSICLINKS LIMITED
BALANCE SHEET
AS AT 31 AUGUST 2023
| Notes Current assets Cash at bank and in hand Net current assets Net assets excluding pension liability The funds of the charity Restricted income funds 9 |
2023 £ 8,238 |
£ 8,238 8,238 8,238 8,238 |
2022 £ 10,921 |
£ 10,921 |
|---|---|---|---|---|
| 10,921 | ||||
| 10,921 | ||||
| 10,921 |
The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 31 August 2023.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the trustees on 23 May 2024
James Darrington James Darrington (May 24, 2024 09:27 GMT+1)
James Darrington
Trustee
Company registration number 06821503 (England and Wales)
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MUSICLINKS LIMITED
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023
1 Accounting policies
Charity information
Musiclinks Limited is a private company limited by guarantee incorporated in England and Wales. The registered office is Woodside Garth Row, Underbarrow, Kendal, LA8 8AY.
1.1 Accounting convention
The financial statements have been prepared in accordance with the charity's [governing document], the Companies Act 2006, FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the Charities SORP "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). The charity is a Public Benefit Entity as defined by FRS 102.
The charity has taken advantage of the provisions in the SORP for charities not to prepare a Statement of Cash Flows.
The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.
1.2 Going concern
At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.
1.3 Charitable funds
Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.
Restricted funds are subject to specific conditions by donors or grantors as to how they may be used.
Endowment funds are subject to specific conditions by donors that the capital must be maintained by the charity.
1.4 Income
Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.
Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.
Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.
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MUSICLINKS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2023
1 Accounting policies
(Continued)
1.5 Expenditure
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, 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 classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset’s use.
1.6 Cash and cash equivalents
Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
Basic financial liabilities
Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
Derecognition of financial liabilities
Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.
2 Critical accounting estimates and judgements
In the application of the charity’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
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MUSICLINKS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2023
3 Income from donations and legacies
| Restricted | Restricted | |||
|---|---|---|---|---|
| funds | funds | |||
| 2023 | 2022 | |||
| £ | £ | |||
| Grants receivable for core activities | ||||
| Arts Council England | - | 23,922 | ||
| Cumbria Community Foundation | 3,000 | 1,704 | ||
| Frieda Scott Foundation | 4,500 | 3,900 | ||
| Performing Right Society Foundation | - | 2,400 | ||
| The Doyley Carte Charitable Trust | - | 3,500 | ||
| Cumbria Youth Alliance | - | 400 | ||
| Kendal Town Council | - | 1,500 | ||
| The National Lottery Community Fund | 27,458 | 8,580 | ||
| Main grants | 8,152 | - | ||
| The Hadfield Charity | 2,278 | |||
| Other | 98 | - | ||
| 45,486 | 45,906 | |||
| 4 | Net movement in funds | 2023 | 2022 | |
| £ | £ | |||
| The net movement in funds is stated after charging/(crediting): | ||||
| Fees payable to the charity's independent examiner: | ||||
| - for the independent examination of the charity's financial statements | 400 | - | ||
| - for other financial services | 350 | - |
5 Trustees
The following trustees received funds from the charity for direct services provided during the year. A McKay £476 J Darrington £2,000 K Redfern £532
6 Employees
The average monthly number of employees during the year was:
| 2023 | 2022 | |
|---|---|---|
| Number | Number | |
| Total | - | - |
There were no employees whose annual remuneration was more than £60,000.
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MUSICLINKS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2023
7 Other
| Restricted | Restricted | |
|---|---|---|
| funds | funds | |
| general | general | |
| 2023 | 2022 | |
| £ | £ | |
| CEO - Lead musician | 10,930 | 10,135 |
| Office | 1,949 | 2,920 |
| Musicians | 7,952 | 12,502 |
| Equipment and musical instruments | 5,344 | 2,018 |
| Vehicle and fuel costs | 5,058 | 3,579 |
| Project and event costs/sundries | 13,064 | 10,123 |
| Admin | 3,121 | 6,511 |
| Miscellaneous | 750 | 55 |
| Refunds and adjustments | - | (1,590) |
| 48,168 | 46,253 |
8 Taxation
The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.
9 Restricted funds
The restricted funds of the charity comprise the unexpended balances of donations and grants held on trust subject to specific conditions by donors as to how they may be used.
| At 1 | Incoming | Resources | At 31 August | At 31 August | |
|---|---|---|---|---|---|
| September | resources | expended | 2023 | ||
| 2022 | |||||
| £ | £ | £ | £ | ||
| 10,920 | 45,486 | (48,168) | 8,238 | ||
| Previous year: | At 1 | Incoming | Resources | At 31 August | |
| September | resources | expended | 2022 | ||
| 2021 | |||||
| £ | £ | £ | £ | ||
| 11,268 | 45,906 | (46,253) | 10,921 |
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MUSICLINKS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2023
| 10 | Analysis of net assets between funds | |
|---|---|---|
| Restricted | ||
| funds | ||
| 2023 | ||
| £ | ||
| At 31 August 2023: | ||
| Current assets/(liabilities) | 8,238 | |
| 8,238 | ||
| Restricted | ||
| funds | ||
| 2022 | ||
| £ | ||
| At 31 August 2022: | ||
| Current assets/(liabilities) | 10,921 | |
| 10,921 |
11 Related party transactions
There were no disclosable related party transactions during the year (2022 - none).
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M811 Accounts 31.08.2023
Final Audit Report
2024-05-24
Created: 2024-05-23 By: Douglass Grange (South Lakes) Limited (kendal@douglassgrange.co.uk) Status: Signed Transaction ID: CBJCHBCAABAAnthFz0U8lcTvVJAHE7J3be-FKjYPmDTP
"M811 Accounts 31.08.2023" History
Document created by Douglass Grange (South Lakes) Limited (kendal@douglassgrange.co.uk) 2024-05-23 - 11:06:05 AM GMT- IP address: 46.249.193.21
Document emailed to James Darrington (musiclinks1@yahoo.co.uk) for signature
2024-05-23 - 11:06:10 AM GMT
Email viewed by James Darrington (musiclinks1@yahoo.co.uk)
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Document e-signed by James Darrington (musiclinks1@yahoo.co.uk)
Signature Date: 2024-05-24 - 8:27:20 AM GMT - Time Source: server- IP address: 82.132.186.21
Agreement completed.
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