Company registraEÈon ftumber.. 07076892 Charity gIstratIon numE¢r. 1135011 Community Recording Studio (A company limited by guaranttt) ArUl1 Rcport and Financial Statcmcnts for the Year Ended 30 November 2022 Community Accountin8 Pl Units l & 2 North West 41 Talbol Street Nottingham NGI 5GL •ACB3CLXK• 3110W2023 COMPANIES HCMJSE A15
Community Recording Studio Contents Referen¢¢ and Administrative Detakls Trustres. Report 2to4 Independent Examinerfs Rep)rt Statement of Finan¢ial Activities 6t07 Balance Sheet Note5 to the Financial Statemcnt5 9t020
ComThunity Recording Studio Reference and Administrative Details Trusttt5 JoHnn¢ Spick Nornian Oley Georgia Moore Daniel James Charity Registration Number 1135011 Comp4ny R¢ys¢r•tion Number 07076892 Registered Office Russell Youth Centre Lowdham Street Notttngham NG3 2DP Ind¢p¢ndent Ey•rnin¢r John OBrien. employee of Community Accouniing Pl% UniL5 1 & 2 North West 41 Talbot Street Nottingham NGI 5GL Page I
Community Recording Siudio TThstees' Report The trustre5, are drfectors for ihe purFM)s¢s of comparry law. pr¢seni the annual repcdt together with the financial swements of the charitable company for the year ended 30 Novcrnkr 2022. Trnsttts And officers The trusiees and officers servin8 during the ye4r and since the ye4r cnd vKrc a5 follows: Tnjstees.. Joanne Spi¢k David Sinclair (resigned 20 December 2021) Nornian Oley Georgia Moorc Danid James (apw)inted I l April 2022) Nathre ofzoverning docuMr&71 The charity is a company limited by guarantee and re8isiered Charity. It is operated under the tules of its memorandum and articles of association dated 14th NoY¢mber 2009. li has no share capital and the liability of each member in ihe event of winding-up is limited to £10. Recrnilment tzmd oppoin1nKÉ 0ftrue New triJs¢ees att r¢¢Ni¢ed by ensurirtg va¢an¢i¢s art advertised Ind promoted locally through a range of m¢(hod5 in¢luding social m¢dio, voluthtsty se¢tor supp)rt agencies and through supporting young people wl¥) are beneficiaries LO be¢ome In1¢¢$. Tnstees ¢an b¢ w-OPLed during th¢ y¢ar by th¢ Misiee board or voted on by members at the AGM. Objectivcs and cliviti Objecls ond Our aim is to create positive change for young people in the local community. We encourage yth]ng PEople in St. Ann'5 and 5urroundin8 areLs of Nottingharn to develop their skills and abilitie5 by ccrfreating programs of Tnu5iG. SPOrt5 and oiher creative activities. We encourage and inspire them to partÉcipate in society as indepcndent, mature. resw)nsible adults. CRS is a creative and swrts faciltty staffed by skilled th)rkers and volwLtcus. It includcs a r¢rordJng studio, Iti addition to other arts-b¥ed provision efthan¢¢d with supm guidaDC¢ ar hclp for the ({Unty based in the St Ann's and surrounding areas ofNottingham. CRS achievt5 its objective5 by providing a range of aciivilies and s¢rvitts ty kn¢fit young people. these comprise.. • infornial music and arts programmrs" • creative projects includirtg show¢ases and perforrnanrrf" ' sports programmes ' youn8 mentorship pro • outreach Community work. * entry to Work, through WOFk expeneK< sup]y)rt in VoltrIng and training in a wide variety of g¢nre5; ' support and guidan¢e. Pagc 2
Community Recording Studio Trustees, Report Public beneJ71 The ttwstees confimi ihat they have ¢ompli¢d with the requircments of scrtion 17 of the CharitlC5 Act 2011 to have due regard io the publi¢ benefii guidance published by thc Charity Cornmission for England and Wales. CRS supw)rt5 young people in developing skills in arw such &5 rn51¢, medi4 p¢rforniing, photography, recording, fashion, drama and filming; ther¢by developing their sonal and social skills. and achieving their aspLrations and fvifilling their potential_ AChieVemets and perfornlance The rJnan¢l year 2022 stsrted with scne wniinu¢d un¢¢ffainty due to the ongoing impaci of the Cov[19 pandemic, but our team responded with agility, pragmatism and dedi¢aiitin io thc ¢hall¢nge5 broughi about by the repEnIng of the facilities at Lowdham Stre¢t in St. Ann'5. Nottingham. The cnthu5ia5m and efftctivenes5 with which we movcd to offering support to thc community both in the form of c0vIrSafe oUtdr and digitally supportcd. rcmote scssi¢Jns is testament to our creativity and dcdication. Towards the end of the year. we were able to rePen our faciliiic5 and coThtinue to offer a safe space in whith young people can develop and learn. Financial review lft the financial year. CRS re[rt¢d an irne of £208,73012021.. £221238) Th¢s¢ fvnds enabled us io provide the youThg people in our ¢ommunity with mentorin& SUPWpQ iuilion and the opportunity to takc part i perfonnanc¢s for the g¢ft¢ral public at whi¢h w¢ showewd or tsl¢nts. We also ettjoyed opening our doors to families, supporters and in May 2022 and l¢ttirtg our yourtg people display their trts and positivity. W¢ continued to invesi in th¢ establishm¢ni of more. robust governan¢¢. Safeguarding and sllpporf Stru¢trJres in gnisance of the fa¢t thai CRS is larger and more MpleX than 1¢ was thirty yeats ago. The deficit of income over expenditsire was £22.815. which together with the fvnds brought forwards of £130.155 resulted in reserves carried forvdrds of £107.340. This consisted of unrestricted funds of £12.820 and restricted funds of £94,520, represented by a bank balance of £47,845 and other net assets of £59,495. Policy on reserK CRS policy is to maintain sufficient level of reservcs ro enablt normal opcratin8 activities to continue for a period of up io three nthS should * shortfall in income (Kcur and to take account of potential risks Ind contin8encie5 that may arise from time to lime. Plns for futurt periods All •mdkey objeclivuforlulureperiodF Community Rccordin8 Studio acquirtd the faciliiie5 formerly known as R1 Youth Club in 2020. We are planning some exciting refijrbishments and expansion of our sports facilities in 2023 and 2024, and we plath to continue the diversification of our service provision with rnor¢ srtS and 5pe¢ifi¢a]ly. football progtamm¢s. Pag¢ 3
CommuDity Recording Studio Trnstees, Report Ststement of Responsibilities The trustees (who are also the dircctors of Community Recording Swdto ftir the purposes of¢ompany lawl art rcsponsible for preparing thc trustce5' and the financial ststements in a¢¢ordan¢e wth applicable law and United Kingdorn Accounting Standards (United Kingdom Gtnerally A¢c¢pied A¢¢ounting Prncticc). including FRS 102 'Thc Financial Reportin8 Standard applicable in the UK and Republi¢ of Ireland" Thr rcwrt and accounts have becn prepared in accordance with the provisions in the Companic5 Ad 2006 lating to small companies. Company law requires the Mistees to preparc financial 5taternents for each flnancial year. Under company law the truuees must not approve the financial st8tements unlcss thcy are 5ati5fJed that they give a tsue and fair view of the state of affairs of th¢ chaTitable company and of the ineomin8 resources and application of resourcrs. rncluding its income and expendiiurc. of the charitsble company f penod. In preparing ihese financial atements. Ihe tsustees are required to.. selecl suitable accounting policies and apply them ¢SisteiEy' observe the methods and principles in th¢ Chariues SORP" make judgements and esiimat¢s that arc rca50nablc and PTudenL state whether applicablc accounting standards. eompri5in8 FRS 102 have been followed, subjrct to any material departure5 disclosed and explained in the financial Statemet. and prepare the financial swements on the going concern basis unless it is inaFvfopTiate to presume that (he charitable company will continue irt I1¢$S. Th¢ irn$t¢es ar¢ responsLbl¢ for keeping proper accounting records that can diK105e with reasonable ac¢ura¢y at any time the fJThancial posi(ion of the ¢haritable company and tnablc them to ensure that the financial 5taiements comply with the Companies Act 2006. Th¢y are also resp)nsibl¢ for 5afcguardivg the a55ets of the charitable ¢ompaoy ar)d hen¢e for taking reasonable slep5 for the prevention and ddection of fraud and oth¢r irregularities. The trustCC5 are rc5ponsiblt for the maintenan¢¢ and iniegTity of thc TpD¢e and finanrial information includcd on the charitable company's websiie. Legisl•ion governing the preparation and dissemination of financial Statements may differ from legislation in other jurKsdJ¢¢ioD5. Small Corn7¢5 provi51011 Stxtemem This rep)rt has b¢¢n pr¢parEd in acconknce with the Small companies regime under the Compani¢s Ac¢ 2006. The annual report was approved by the twstees of the ¢harity on 30 August 2023 and Signed on it>behalf by.. Joanne Spick rntsiee Page 4
Community Rewrding Studio Independent Examiner's Report to the trnstees of Community Reeording Studio ('the Company,) Independent ex•miner's report to the trnsttt5 of Community Recording Stsdio Cthe Company.) report to the charity trustets on my exarn1nati of the accounts of the cornpany for the year etmled 30 November 2022. Responslbilities hsis of rert As the charity's tntstees of the Company (and also its di¥euoTS for the pUry of comparly law) you are resp)nsible for the preparion of the accounts in accordan¢¢ with the rCquirrmts of the Cornpanies Act 2006 {'the 2006 AGt'). Having satisfied myself that the accounts of the Cornpany are not required be audited under Part 16 of the 2006 Act and are eligible for independtnt exarninaiion. I repjrt in respect of my examinatton of your charity's accounts as out under section 145 of the Charities Act 2011 ('the 2011 Act'l. In canying out my exarniThation I have followcd th¢ Diredion5 given by the Charity Commission uThder section 145{SXb} of the 2011 Act. Indtyendent tMIer,$ stttm¢tyt I hve ¢ompleied my examination. l ¢4)nfimi th* no mattets have come to my attention in connection with the examination giving me cause to believe that in any rnateriai respcrL" accountin8 record5 werc not kept in re5PCCt of the Company a5 required by section 386 of thc 2006 Act.. or 2. the a¢counis do not a¢cord with thos¢ r¢wrds,' or 3. the a¢¢ounts do nor Comply with the accouniing r¢quirements of seaion 396 of the 21K16 A¢4 other than any requiremeni ihat the a¢counts giv¢ a 'triLe aod faiv view whi¢b is Th)t a matter considered as part of an independent examination- or 4. the accounts have not been prepared in accofdance with the methods and principles of the Ststement of Rtcommtnded Practict for accountin8 and rertIng by charirit5 lapplicable io charitits preparin8 their accounts in accordance with the Financial Reportltl8 Standard appltcable in the UK atld Republie of Ireland IFRS 102)] I have no conctrns and have come 8cr0$5 no ler matters in connecti1 with the exarnination to which attention should be drawn in this rep in ordcrto enabk a PTvpef ulthrdIng of the accounts to be reaihEd. John O'Brien MSC. FAIA. FCCA. FCIE, employee of Community Accountin8 Plus Fellow of the AsKxiation of Charity Independent Examiners Units l & 2 North West 41 TallxTri Street Nottingham NGI 5GL 30 August 2023 Page S
Community Recording Studio Statement ofFinaneial Activilies for the Year Ended 30 November 2022 nclnding Ineome and Expenditure Account and Statement of Total Reeognised GaiDS nd Losses) Total 2022 Totsl 2(121 Unrtstrirted . Restricted Note In¢omt xtsd EDdowments frorn: Donations and legacie5 Charitablt activitie5 5.350 ,497 5,350 203.380 56.967 165,27T 201.88i rotal income 6.847 201.883 208.730 222,238 Expenditure on: Charitsble acttviti¢s 67.691 163,8S4) (231,5451 284,133 rotsl expenditure Nei lexpendiwreyincome 67,691 163.854 231.545 284.133 60.844 22,815 61.895 Net movcmcnt in funds (60,844) 38.029 {22,815) (61.895) Reconciliation of funds Total fun(Ls brought forward 73,664 56.491 130.155 192,050 Total funds carried fonydrd 12 12.820 94.520 107,340 130,155 All of the charity's activities derive frnm continuing Operatity during the ai¥)ve fwo periiMI5. The fvnds breakdoiw for th¢ period is thown in note 12. The Tto*s on pa8e5 9 to 20 fowm an intt8ral part of these finat)¢ial swemuts. Page 6
Community Recording Studio Statement of Financial Activities for the Year Ended 30 November 2022 (Including Ineome and Expenditure Account and Statement of Total Recognised Gains and Losses) Th¢se ar¢ the figures for the previows aeeounting ptriod And *re induded for compArgtive purp)se5 R¢siri¢t¢d Tffj#l runds 2021 lunds Ineome and EndowTheAts frorn: Donaiions and lega¢ies Charitsble aciiviiies 56,967 1.490 56,967 165,271 163,781 rotal InM¢ 58,457 163,781 222,238 Exp¢nditure 0. Charitable activities 150.950) (233.183) 1284.133) rotsl expendinire 150.950) (233,183 1284.133) Net incornellexpcnditurel rrdn5fer5 between fi]r 7.507 2,188 (69.402) 12.188 (61.895) Net movement in funds 9,695 (71.590) {61.895) Rtconciliation of funds rotal fvnds brought fonward 63,969 128,081 192.050 Toial fi]nds carried forward . 12 73,664 . 56,491 130.155 Thc notes on pa8es 9 to 20 fonn an intt8ral part of these financial ststcments. Page 7
Community Recording Studio (Registration number: 07076892) Balance Sheet at 30 November 2022 2f122 2021 Note Fixed Assets Tangible &ssets 45,900 Currthi assets Debtors Cash at bank and in hand 30554 47,845 19,527 79.872 78,399 99,399 Creditors: AM0ts fg11int due wiihin oTre yur 15,144 Net current a55ets 66.031 84,255 Net assets 107.340 130,155 Funds ofth¢ tharity: Restrlded intome funds Restri¢tcd funds 12 94.520 56,491 Unrestricted ineorne Unrestricted funds 12.820 73.664 Tot41 fund5 12 107.340 130,155 For the finan¢ial year ending 30 November 2022 the charity vrds entitled to exemption from audit under section 477 of the Companies A¢t 2006 relaiing to sma]I companie5. Director5, restKJnsibiliiies'. The members have not required the charity to obtain an audii of its accowits for the year in question in ac¢ordan¢¢ wth section 476. and Th¢ dircctOf5 acknowledge their r¢stKJnsibiliii¢s for ¢ompfying with the requirements of the Ad wilh respert to accounting records and the prepaNion of a¢cowits. Tht5c financial statements have bttth prepared in wtth the Sla1 provision5 relatin8 to companie5 subject to the small companies regime within Part 15 of th¢ Compani¢s Ad 2(K)6. The financial statements on pages 6 to 20 were apwoved by th¢ trustees, and authoris¢d for issue on 30 August 2023 and slgned on their behalf by= Joanne Spi¢k TNuee The rK)trs on pages 9 to 20 fonn an inlegral pan of thes¢ finan¢ia] statements. Page 8
Community Recording Studio Notes to the Financial Sta¢ements for the Year Ended 30 November 2022 l Accounting polifies Summry o(5ignifi£ant ccounting policits and kry accountiDg tstimatts The principal a¢¢ouniing policies applied in the preparation of these fjnancial statements are set out below. Thesc polirics have been wnsistcnily applied to all thc y¢ar5 Plf5¢nted. unless otherwise 51ated. Statement of eomplianee The financial statements have b¢ert prepared in ac¢ordan¢e wth Accounting and Reporting by ChaTities'. Sraiement of Recommended Pra¢ii¢e (applicable io chariiies preparing their accounts in accordance wilh the Financial Reporting Standard applicable in the UK and REpublic of Ireland ffRS 102)) (issued in October 2019) {Charities SORP IFRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 102) and th¢ COMPleS A¢t 2006. Basis of prtpAration Community Recording Stjjdio meets the dcfinition of a public bcnEfit cntity under FRS 102. Assets and liabilitie5 arc initially rccogni5ed at ht5torical c05t or transaction value unlc55 othcM5e stated in the relcvant accountin8 policy notcs. Going ¢one¢rn The financi stameTts have been prepared on 8 going concern basik The trusiees assess whether the use of going ncern is appropriate i.e. whether there are any material uncertainlics related to events or conditions may cast significant doubt on the ability of the charity to ontinue as a going Concern. Thc trustccs makc this assessmcnt in re5PCCt of a period of ¢)nc ycar from the dale of approval of the firwicial statcmcnts. Exemption from pr¢pring • esh flow The charity opted to early adopi Bulletin I published on 2 February 2016 and have therefor¢ no¢ included a cash flow sratement in these financial stsments. Income and tndoivments Volun¢ary in¢ome including dOn10th$. gift& legacies and grants that provide core fiwding or are of a general natur¢ is rcrogniscd Wh the rharity has ¢nts¢lerDrnt to thr iD¢4)mc. it is probablr tha¢ th¢ in¢omr will b¢ rcceivcd and thr amount can be Measur with suificicnt rcliability. Donalions are re¢ognised when the charity has been TtIr1ed in WTs1ing of both the amount and settlemeni date. In the event that a donation is subject to condiEions that require a level of [OrManCe by the charity before the charity is ¢niitled io ihe fid$, the illMe is d¢ferr¢d artd not recognised witil ¢ither those condition5 are fiLIIy meL or the ffiJlfilm¢nÉ of thos¢ ¢ondiLkons is wholly within the ¢ontrol of th¢ charity and it is probable that these Conditions will be fvifilled in the reporting period. Grants reeelvoble Grants are re¢ognis¢d when the charity has an et)iiilement the fiu)ds and any conditions linked the grnn¢s have beert met. Wher¢ perfornJan¢c wndiliotjs ore at¢a¢ha to th¢ wt and arc yet to be m¢L the income is reco8nised as a liability and included on the balance sheet as defr¢d income to bc rcleased.
Community Recording Studio Notes to the Financial StatemeDts for the YeAr Ended 30 November 2022 ExpeDdithre All expenditure is recognised once thtrr is a legal or constsiKiive obligalion to that expenditure, it is probable settlemtnl is required ar the amount can be measured teliably. All costs are allocated to the applicable expenditure heading that aggregate similar costs to thai tategory. Where costs ¢annoi be dJre£tly attribuied to particular headings they have been allocated on a basis tonsJ5tcnt with the use of resources. with central staff Costs allocated on the b&sis of time spen4 and deprtciation Charges allocatrd on the portttsn of the a55et'5 Use. Other supwjrt costs ar¢ allocated b&sed on the spread of stsff costs. Chariloble adivili¢F Charithble expenditure comprises those costs incurred by ihe chariry in th¢ d¢liv¢ry of its a¢(ivities at)d serv¥re5 for 11$ beneficiaries. It includts both costs that can be alii)u*d dirtcdy lo swh aaiviries those Costs of an indire¢i necessary to support them. Gtsvtrnment grAnt$ Government grants are recognised b&sed on the accrna] Tnodel and are njcasurcd * thc fair value of the &sset received or reccivable. Grants are classified as lating either io revenue or assets. Grnnts rtlaling to rcvenue arc recognised in income over the period in which the rtlattd costs are recognised. Grknts relating to as5cts are recognised ovcr thc eXcted useful life of the &wt. Whtrt part of a Brant relating ¥sei Is deferd. it 15 recognised as deferred income. Taxaliort The ¢harLty is Considered io pass the tests sel i)ut in Pardgraph I Schedule 6 of the Financc Act 2010 and Iherefore li meets the definition of a ¢haritsbl¢ ¢otnpany for UK Corporation tL¥ PUTP05C5. Accordingly, the charity is poientially exempi from tsxatiort In respect of income or capital gain5 rcccivcd within categories cov¢red by Chap¢er 3 Part I l of ihe Corporation Tax Act 2010 or Scciion 256 of the TatiOn of. Chargeable Gains A¢1 1992, 10 the t¢1 that such income or gains arc applied exclusivcly to charitable purw5C5. T4ngiblt fixed assets Individual fixed &%sets costing £300.00 or mrKe ar¢ iftitially recorded * ¢OSL less any subsequent a¢¢umulated depreciation and sub5ew]ent accumulated impaimi¢nt losses. Depreciation and arnortisation Depreciation is provided on thngible fixed assets so as to write off the c05t or valuation. less any estimated r¢sidua] value, over their expected usefvl econorni¢ life as follows". Asset cla59 Computer equipment Furniwre and equiwllcrtt Land and buildings Depretiation rneth nte 33.3% strai8ht lili¢ 33.3% straight line Trade debtors Trade debiors are amounts due from cv5tomer5 for rner¢handise sold or SCTVICCS puforned in the ordinary course of business. Trade debtors arc reco8ni5ed initially thc transaction price. They are subsequently measured at amortiscd cost using thc effcctive inttrest method, less provision for impajmem. A pmvision for the impairnient of trade debtor5 is establrshed when there is objective evideft¢e that the ¢harity will noi be able io ¢olle¢i all amounts due accordin8 to the original terms of the receivables. Page 10
Community Recording Stsdio Notes to the Financial Statements for the Year Ended 30 November 2022 Cash and eash equivxlents Cash and cash ¢quivalents comprise cash on hand and c211 depDSits, and other shon-iemi highly liquid itv¢sttnents th are readily convertible a known amount of cash and art subject 10 art Insigtjifjcant risk of change in valuc. Trid¢ Creditors Trade creditors are i)bligations to pay for goods or savices have been wuired the ordinary course of business from suppliers. Accounts payable are classified as currcnl liabilities if the charity doe5 not have an uncondiiional ri8ht, at the end of the reporiing period. to defer settlement of the creditor for at le&st twelve months after th¢ reF<Jrting date. If there is an unconditional ri8ht to defcr settlement for at le&st twelve months after th¢ reportitjg da*, they are presenied as non-current liabiliiies. Trade creditor5 arc recogni5ed initially at the transaction pnce and subsequently measured at amortised cost using th¢ ¢ff¢ctiv¢ in(erest method. Fund strnrture Unrestricted incom¢ funds are g¢n¢rni fvnds are available for use th¢ tsvst¢¢s' dis¢reiion in fiwtherance of Ihe objectives of the ¢harity- Restricted income fund5 are those grdnts for use in a pirticular art4 or for spccific purpose5. the use of which is resthcted that area or PUTPOS Pensions and other post ret5remeAt obligation5 The ¢harity operates a defined ¢onthbution p¢nsion s¢hem¢ for employe¢s. Th¢ assets of the s¢heme are held srpardlcly from those of the tharity. Petsion costs ¢harg¢s in th¢ Ststvnen¢ of Financial Artsvities rTEs¢t th¢ ontributions payablc by the charity during th¢ y¢ar. 2 lrycom¢ from donxtion$ and legx¢i¢s Unr¢strid¢d funds Total 2022 2021 Donations and legacaes" Donatiotjs from ¢ompanies. trusts and similar procceds Dtsniiions from Mmunity groups Grants. including capitsl grants. Governmcnt grdnt5 14,467 SJ50 5,350 42,500 5,350 5,350 56,967 Pa8ell
Community Recording Studio Noto8 to the Finan¢ial Statements for the Yr Ended 30 November 2022 3 Income from ch•ritAble a¢tiviii¢s Utsrestrieted futyds Gttttrnl Restricted fndS Total 2022 Tot*1 2021 201.883 201.883 1,497 163,781 1.490 Fees .497 1,497 201,883 203,380 165.271 4 Gvdnts & donations Umrtstri¢ted IIiD R¢stridEd fynd5 Totsl Boots tharitsble Childresj in Need Comic relLef Kiekstart Nottingharn City Council Nottinghamshire Police Crime Commissioner Reachin8 eommuniu¢s Youth Must¢ 8,943 9,400 8,943 9,400 5,350 18,390 26,361 25,000 46.047 67,742 5J50 18 J90 26 J61 25.000 46,047 67,742 5.350 201,883 207,233 Page 12
Community Recording Siudio Notes to the Fin2nC121 Ststements for the Year EDded 30 November 2022 5 Expendithre on charitabl¢ a<liviti¢s Uftrestrieted General fvTrds Restricted fud$ Tt)tal 2022 Toi*l 2021 Ac¢ountsncy fees Advertising & prornotional BaThk char8C5 Consultancy Depreciation Hospitality Insvrances Legal & professional fees Office & general admin Phone costs 1,611 878 878 39 10,945 4,591 178 2,835 2,315 1,962 2.680 42,065 331 37 5,295 4.591 io 2,267 1,860 1.413 2,599 9.502 5.650 25.630 6.130 168 568 455 549 81 32563 184 520 25 2,192 2,495 2.018 Programm¢ costs Repairs & ren¢wals Subscription5 Training Tyavel Wage, NI & pension Workshops.. Fr¢¢lan¢¢ Maff Ex-grat12 paymeni Premises, repairs & maintrTwi¢e 6.965 346 1,301 1.062 599 41)0 233 27.396 30 1.119 425 244 146.286 3.176 118.890 3.146 174.490 32,175 6,000 1,500 16.133 300 9.848 10.012 Sundry expenditurè 67,691 163,854 231,545 284.li3 6 Net Intomingloutgoint re50UTtes Net outgoing rc50urcc5 for the year include.. 2022 2011 Depreciation of fixcd Ists 4.591 6.130 Page 13
Community Recording Studio Notes to the Financial Statements for the Year Ended 30 November 2022 7 St¥f(c05ts The a88Te8ate payroll costs a5 follows.. 2022 2021 Staff ¢osts during ¢h¢ y¢r wtr¢: Wages and salarie5 Social security costs Pension sts 135.753 8.552 1.981 164.912 6.907 2,671 146.286 174.490 The monthly average numb¢r of persons (including senior management team) employed by the charity during thc yrar wa5 as follow5.. 2022 21121 Average number of employee5 4 (2021- 5) of the atxjve employees particip8t¢d Jn the Defined Contribwion Pension Schemes. Contributions io the employee pension schemes for the year wtalled £1,981 (2021- £1671). No employee re£etved emoluments of nJor¢ £60.(KKI during thc yrar. 8 Tangible fixtd ets L•md •Thd buildimgs Furnit¥r¢ nd t4lpt¢Th1 ComwJt¢r Totsl Co Ai l December 2021 40.000 55.274 29,678 124,952 At 30 November 2022 40.000 55.274 29.678 124.952 DepreeiAtion At I tkcember 2021 Charge for the year 53.042 2,232 26.010 2,359 79.052 4,591 At 30 Novemb¢r 2022 55.274 28J69 83.643 Net book valut At 30 November 2022 40.000 1,309 41.)09 At 30 November 2021 40.000 2,232 3.668 45,900 Pa8e 14
Commuoity Recording Studio Notes to the Financial Statements for the Year EDded 30 November 2022 9 Debtor5 2•22 2021 Trade debtors Prepayments Other dtbtors 216 30.221 .235 18,292 30.554 19,527 10 Credliors: Amounts falllfvg thit wlihlth otht yer 2022 2021 Trdde creditor5 Other taxaiion and social security Other creditors Accruals 342 2.Ol7 1,345 1.440 1,544 1.482 12.368 J l Anty5i5 of net Assets between funds 2022 Total funds Gthenl Restrfeted Tan8ible fixed ets Current &ssets Current liabilities 41 J09 {16.121) (12.368) 41.309 78,399 112,368 94.520 Total net assets 12.820 94.520 107.340 Unre5tTiCted 2021 Total funds Gelleral Re5tritted Tgible fJx¢d assets Curreth¢ assets Current liabilities 45.900 3 1.052 3.288 45,900 99,399 15.144 68,i47 1.856 Totsl nei assets 73.664 56,491 130,155 Page 15
Community Recording Studio Notes to the Finxneial Ststements for the Year Ended 30 November 2022 12 Fund5 Balance at I Deetmber 2021 B•lgtt¢¢ gt 30 P4ovemb¢r 2022 In¢oming r¢wuttt5 Resollrces ¢xpwd Unr¢strtrted futhds G¢neral 73,664 6.847 {67.691) 12.820 Restricted funds Children in Need Full Effect fund YEI fiJThJ Kickstart We All fund Oul of Many One People Community MCS fund Developing Ski115 fvnd Sound Mind fund Sus¢airthility Plon fvnd Covid 19 fvnd ESF fithd Boots Notts Police Crirnc Commissioner 9.41KI (8253) (3.9621 {30,711) {18.723} 4.350 {64.430) (3282) (2.035) 1.147 7.354 l.316 30.711 18.390 (4.350) 67.742 46.047 335 227 7,015 11.667 6.711 12.050 5.311 1.859 3,539 49,780 9,632 6,630 4.246 17.804) (4.350) (823) (667) 1.036 8,276 8.943 25,0( {23,0831 1,917 Total reslricttd fun 56,491 201.883 163."854 94.520 Total fund5 130.155 208.730 231.545 107.340 Page 16
Community Recording Studio Notes to the Fin2ttcial Statements for the Year Ended 30 November 2022 The spccific pur$¢$ ftir whi¢h the funds aTe to be applicd are as follows: Children in Need - funding to delwvcr behaviour w>rkshop5 alongsidc music and video ercative aThJ iethnical 5ki115 for young people living in a disadvantaged arca. Full Effect fund- Royal Foundation partncrship funding towards the running costs of Full Effect: YEI fund funding from Nottingham City Council io get young people education. training and employment. W¢ All fund - fundin8 frorn Comic Relief to undertake social action MDrk with young people addressing mental health ISSU through Creative projects- Community MC's- a proje¢r rJrkLng with young people using atts and other activities to enable them w address community issues. Sustainability Plan fiJnd- Royal Foundion partnership fvnding iowards developing a susthinable fijtyre for ihe Covid 19 fvnd - funds received from the [ery, Children in Need and Comi¢ Relief for r¢spons¢ kn the Covid 19 pandemic- ESF fund - the Futhres Group providc the fidIng for our Growh programme which suprts yng peopl¢ aged 16-30 to build their confidence. explore SOTnc aspirations and gY4in ts3nsftTable skills through a range of creative activities. These include collaboration with a producer io ¢reaie their song. vocal coaching and recordin8 along with individua] mentoring and supporf with job related a¢tivities- Ki¢kstart fund - funding from DWP for employmcnt opp)rtunitTres. CRS used this funding for a photography assisianL 2 x assistant en8Lneers and an admin worker. i of Mony One People- fi]nding from Youih Music for an album and tour. Developing Skills fund - funding frorn Postcode Places Trust deliver a music based training and dEvelopment -programme that. reduces the impact of vertY by growing.. young people5 cmploymcnt ski115 and gaining a¢creditation' Sound Mind- fvndin8 from The Whcatcroft Fund to build cmolional rc5ilicnce and rncntal well being of young people in Nottingham wlK> have bcen disproportionately affcctcd by the Covid-19 crisi5. NottLn8hamshire Police & CrimE Commissi¢)ncr- Community 5UPPOrt work Boots- C¢)Tnrnunity SUPPOrt fvnd Page 17
Community Recording Studio Notes to the Financial Stxttments for the Year Ended 30 November 2022 Bai¥•ce 8t B41nc¢ t I De¢ember 2020 Incoming rtsource5 Re50urt ¢sp¢nd¢d November 2021 Tr•nsfers Unrtstricttd funds Gener41 General 63,969 58.457 150,9501 2,188 73.664 Restricted Childr¢n in Need Full Effe¢t fund YEI fijnd Kickstart We All fijnd Oui of Maoy One People Community Mc's fvnd Developing Ski115 fvnd Sound Mind fund Sustsinability Plan fund Covid 19 fvnd ESF fvnd 3.800 35.548 4.4 (821) (24,232) 132,011) (5.688) 19.002) (21.768) {32.451) {773) 31J81 6.876 4J50 21.995 36,503 12,440 7,1132 430 1853) 335 4.652 227 7,015 11,667 6.711 12.050 5.311 1,859 2,963 17,305 61,344 2,469 (5.255) {85.586) 7.006 Jl,318 (1.765) Total restricted fvnds 128081 163,781 233,183 2.188 56.491 Tot*l fund5 92.050 222,238 284.133 130.155 Page 11
Community Retording Stsdio Notes to the Financial Statements for the Year Ended 30 November 2022 BalD¢¢ 8t 3D r4ovember 2Q21 Balance at J Deeember 2Q21 IntomiTrg resou¢$ tspended TTTr5fers Unre$tri¢ted funds General G¢ner81 63.969 58.457 (50.950) 2.188 73.664 Resirieted Children in Nccd Full Effect fund YEI fund Kickstart We All fimd Out of Marty Othe People Communiry Mc's fvnd Developing Skills fi]nd Sound Mind fvnd Sus4inability Plat) thnd Covid 19 fiLthd ESF fijnd 3.800 35,548 4.490 (8.290) 124,232) 132,011) (5.688) (9,002) 121,768) (32,451) (773) IlJ16 31.581 6.876 4.350 21.995 36,503 12.440 7,832 430 (853) 335 4,652 227 7,015 11,667 6,711 12.050 5,311 2.963 17.305 61 J44 2.469 (5.255) (85.586) 7.006 31,318 (1,765) Total r¢stri¢ted fvnds 128,081 163.781 1233.183 12,188 56,491 Total funds 192,050 222,238 284.133 130.155 13 Ftts payable to independent exarniner Durittg the period, the fees payable {ex¢luding VAD to the ¢hatity'S Indep¢ndeni ¢xamin¢r Community A¢¢ourtfirtg Plus are ana]ysed as follows". 2022 2021 IndcpcndrDi examinati¢ her financial seNices 1.235 1,926 1200 1,765 3,161 1965 14 Tru5tee5 remuneration tApense5 . No tnte¢s, nor any persons connected with them, hav¢ received any remuneration fmm the Charity during the No trustccs have rcccived any rcbmburscd cxpcnscs or any other benefits from the charity durin8 the year. 15 Rtlated rtY tr*nsaftions There were no related party transactions tn the year. Page 19
Community Reeording Studio Notes to the Finaneial Statements for the Year Ended 30 November 2022 16 Charity st¥tus The charity És a company liinited by guardnttt and ronscquentty do¢s not have share ¢apitsl. Ea¢h of the trustce5 is liable to conthbutt an amount noi exc¢¢dirtg £10 towds thc assets of the ¢hariry in the event of liguidation. Page 20