OpenCharities

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

← Community Recording Studio

2023-11-30-accounts

Company registration number: 07076892 Charity registration number: 1135011

Community Recording Studio

(A company limited by guarantee) Annual Report and Financial Statements for the Year Ended 30 November 2023

Community Accounting Plus Units 1 & 2 North West 41 Talbot Street Nottingham NG1 5GL

Community Recording Studio

Contents

Reference and Administrative Details 1
Trustees' Report 2 to 5
Independent Examiner's Report 6
Statement of Financial Activities 7 to 8
Balance Sheet 9
Notes to the Financial Statements 10 to 20

Community Recording Studio

Reference and Administrative Details

Trustees Joanne Spick Norman Oley Georgia Moore Daniel James Charity Registration Number 1135011 Company Registration Number 07076892 Registered Office Russell Youth Centre Lowdham Street Nottingham NG3 2DP Independent Examiner John O'Brien, employee of Community Accounting Plus Units 1 & 2 North West 41 Talbot Street Nottingham NG1 5GL

Page 1

Community Recording Studio

Trustees' Report

The trustees, who are directors for the purposes of company law, present the annual report together with the financial statements and auditors' report of the charitable company for the year ended 30 November 2023.

Trustees and officers

The trustees and officers serving during the year and since the year end were as follows:

Trustees: Joanne Spick Norman Oley Georgia Moore Daniel James

Structure, governance and management

Nature of governing document

The charity is a company limited by guarantee and registered charity. It is operated under the rules of its memorandum and articles of association dated 14th November 2009. It has no share capital and the liability of each member in the event of winding-up is limited to £10.

Recruitment and appointment of trustees

New trustees are recruited by ensuring vacancies are advertised and promoted locally through a range of methods including social media, voluntary sector support agencies and through supporting young people who are beneficiaries to become trustees. Trustees can be co-opted during the year by the trustee board or voted on by members at the AGM.

Objectives and activities

Objects and aims

Our aim is to create positive change for young people in the local community. We encourage young people in St. Ann’s and surrounding areas of Nottingham to develop their skills and abilities by co-creating programs of music, sports and other creative activities. We encourage and inspire them to participate in society as independent, mature, responsible adults.

Our Values are

• Choice - ensuring that every child and young person coming through the doors at CRS is availed of choice

• Opportunity - supporting children and young people to recognise and pursue the positive opportunities available to them

• Empowerment - giving children and young people the power and ability to make positive decisions for themselves, and to inform and support others

• Inclusion - providing a safe space for all children and young people in the community

Page 2

Community Recording Studio

Trustees' Report

Objectives, strategies and activities

CRS is a creative and sports facility staffed by skilled workers and volunteers. It includes a recording studio, in addition to other arts-based provision enhanced with support, guidance and help for the community based in the St Ann’s and surrounding areas of Nottingham.

CRS achieves its objectives by providing a range of activities and services to benefit young people, these comprise:

Public benefit

The trustees confirm that they have complied with the requirements of section 17 of the Charities Act 2011 to have due regard to the public benefit guidance published by the Charity Commission for England and Wales.

CRS supports young people in developing skills in areas such as music, media, performing, photography, recording, fashion, drama and filming; thereby developing their personal and social skills, and achieving their aspirations and fulfilling their potential.

Achievements and performance

The CRS team has continued to build on its heritage in music recording and has fulfilled a number of creative projects all supported by local, young talent. In addition to music recording and performing, we continue to offer sports programmes. In particular, we have launched a programme called “Football is Life” which involves engaging young people and encouraging their participation in football matches and tournaments. This has been tremendously impactful in terms of mitigating the divisive behaviours that would otherwise ensure from being in gangs. We have plans to scale the benefits of this programme and upgrade our facilities at Lowdham street in Nottingham in order to be able to launch this on a larger scale.

Our services have also been expanded into new demographics; we now provide after-school and holiday club activities for primary school children and in this way, have seamless relationships with local families of children and young people from 7-25. The clubs for primary school children offer music, football, and arts and crafts.

We continue to facilitate positive impact in terms of improvements in young people’s general and mental health, better educational outcomes and employment and career pathways. life-satisfaction and well-being, and reduction of crime and anti-social behaviour.

Page 3

Community Recording Studio

Trustees' Report

Financial review

In the financial year, CRS reported an income of £105,695 (2022: £208,730) These funds were significantly lower than the income in 2022. We continued to invest in the establishment of more, robust governance, Safeguarding and support structures in cognisance of the fact that CRS is larger and more complex than it was thirty years ago.

The deficit of income over expenditure was £40,077 (2022: £22,815), which together with the funds brought forwards of £107,340 resulted in reserves carried forwards of £67,263. This consisted of unrestricted funds of £7,774 and restricted funds of £59,489, represented by a bank balance of £5,655 and other net assets of £61,608. CRS received £27,099 in the two months after year-end that related to 2023.

Policy on reserves

CRS policy is to maintain sufficient level of reserves to enable normal operating activities to continue for a period of up to three months should a shortfall in income occur and to take account of potential risks and contingencies that may arise from time to time.

Plans for future periods

Aims and key objectives for future periods

Community Recording Studio acquired the facilities formerly known as Russell Youth Club in 2020. We are planning some exciting refurbishments and expansion of our sports facilities in 2024 and 2025, and we plan to continue the diversification of our service provision with more sports and specifically, football programmes. This flows from our 3 year Business Plan that was signed off by the Board and CEO in June 2024.

Page 4

Community Recording Studio

Trustees' Report

Statement of Responsibilities

The trustees (who are also the directors of Community Recording Studio for the purposes of company law) are responsible for preparing the trustees' report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland". The report and accounts have been prepared in accordance with the provisions in the Companies Act 2006 relating to small companies.

Company law requires the trustees to prepare financial statements for each financial year. Under company law the trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including its income and expenditure, of the charitable company for that period. In preparing these financial statements, the trustees are required to:

The trustees are responsible for keeping proper accounting records that can disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company's website. Legislation governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

Small companies provision statement

This report has been prepared in accordance with the small companies regime under the Companies Act 2006.

Disclosure of information to auditor

Each trustee has taken steps that they ought to have taken as a trustee in order to make themselves aware of any relevant audit information and to establish that the charity's auditor is aware of that information. The trustees confirm that there is no relevant information that they know of and of which they know the auditor is unaware.

The annual report was approved by the trustees of the charity on .................... and signed on its behalf by: 27.08.2024

......................................... Joanne Spick Trustee

Page 5

Community Recording Studio

Independent Examiner's Report to the trustees of Community Recording Studio ('the Company')

Independent examiner’s report to the trustees of Community Recording Studio ('the Company')

I report to the charity trustees on my examination of the accounts of the company for the year ended 30 November 2023.

Responsibilities and basis of report

As the charity’s trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 (‘the 2006 Act’).

Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity’s accounts as carried out under section 145 of the Charities Act 2011 (‘the 2011 Act’). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.

Independent examiner’s statement

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 Company as required by section 386 of the 2006 Act; or

  2. the accounts do not accord with those records; or

  3. the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a ‘true and fair' view which is not a matter considered as part of an independent examination; or

  4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities [applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)].

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

......................................

John O'Brien MSc, FAIA, FCCA, FCIE, employee of Community Accounting Plus Fellow of the Association of Charity Independent Examiners

Units 1 & 2 North West 41 Talbot Street Nottingham NG1 5GL

Date:............................. 27.08.2024

Page 6

Community Recording Studio

Statement of Financial Activities for the Year Ended 30 November 2023 (Including Income and Expenditure Account and Statement of Total Recognised Gains and Losses)

Note
Income and Endowments from:
Donations and legacies
2
Charitable activities
3
Total income
Expenditure on:
Charitable activities
5
Total expenditure
Net expenditure
Net movement in funds
Reconciliation of funds
Total funds brought forward
Total funds carried forward
12		 Unrestricted
£
-
1,391
1,391
(6,437)
(6,437)
(5,046)
(5,046)
12,820
7,774		 Restricted
£
-
104,304
104,304
(139,335)
(139,335)
(35,031)
(35,031)
94,520
59,489		 Total
2023
£
-
105,695
105,695
(145,772)
(145,772)
(40,077)
(40,077)
107,340
67,263		 Total
2022
£
5,350
203,380
208,730
(231,545)
(231,545)
(22,815)
(22,815)
130,155
107,340

All of the charity's activities derive from continuing operations during the above two periods. The funds breakdown for the period is shown in note 12.

The notes on pages 10 to 20 form an integral part of these financial statements. Page 7

Community Recording Studio

Statement of Financial Activities for the Year Ended 30 November 2023 (Including Income and Expenditure Account and Statement of Total Recognised Gains and Losses)

These are the figures for the previous accounting period and are included for comparative purposes

Note
Income and Endowments from:
Donations and legacies
2
Charitable activities
3
Total income
Expenditure on:
Charitable activities
5
Total expenditure
Net (expenditure)/income
Net movement in funds
Reconciliation of funds
Total funds brought forward
Total funds carried forward
12		 Unrestricted
funds
£
5,350
1,497
6,847
(67,691)
(67,691)
(60,844)
(60,844)
73,664
12,820		 Restricted
funds
£
-
201,883
201,883
(163,854)
(163,854)
38,029
38,029
56,491
94,520		 Total
2022
£
5,350
203,380
208,730
(231,545)
(231,545)
(22,815)
(22,815)
130,155
107,340

The notes on pages 10 to 20 form an integral part of these financial statements. Page 8

Community Recording Studio

(Registration number: 07076892) Balance Sheet as at 30 November 2023

Note
Fixed assets
Tangible assets
8
Current assets
Debtors
9
Cash at bank and in hand
Creditors: Amounts falling due within one year
10
Net current assets
Net assets
Funds of the charity:
Restricted income funds
Restricted funds
12
Unrestricted income funds
Unrestricted funds
Total funds
12		 2023
£
40,000
27,483
5,695
33,178
(5,915)
27,263
67,263
59,489
7,774
67,263		 2022
£
41,309
30,554
47,845
78,399
(12,368)
66,031
107,340
94,520
12,820
107,340

For the financial year ending 30 November 2023 the charity was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

The financial statements on pages 7 to 20 were approved by the trustees, and authorised for issue on .................... and signed on their behalf by: 27.08.2024

......................................... Joanne Spick Trustee

The notes on pages 10 to 20 form an integral part of these financial statements. Page 9

Community Recording Studio

Notes to the Financial Statements for the Year Ended 30 November 2023

1 Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

The financial statements have been prepared in accordance with 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)) (issued in October 2019) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.

Basis of preparation

Community Recording Studio meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy notes.

Going concern

The financial statements have been prepared on a going concern basis.

The trustees assess whether the use of going concern is appropriate i.e. whether there are any material uncertainties related to events or conditions that may cast significant doubt on the ability of the charity to continue as a going concern. The trustees make this assessment in respect of a period of one year from the date of approval of the financial statements.

Exemption from preparing a cash flow statement

Under the exemption available to smaller charities the Board of Trustees has chosen not to include a Statement of Cash Flows within the financial statements.

Income and endowments

Voluntary income including donations, gifts, legacies and grants that provide core funding or are of a general nature is recognised when the charity has entitlement to the income, it is probable that the income will be received and the amount can be measured with sufficient reliability.

Donations and legacies

Donations are recognised when the charity has been notified in writing of both the amount and settlement date. In the event that a donation is subject to conditions that require a level of performance by the charity before the charity is entitled to the funds, the income is deferred and not recognised until either those conditions are fully met, or the fulfilment of those conditions is wholly within the control of the charity and it is probable that these conditions will be fulfilled in the reporting period.

Page 10

Community Recording Studio

Notes to the Financial Statements for the Year Ended 30 November 2023

Expenditure

All expenditure is recognised once there is a legal or constructive obligation to that expenditure, it is probable settlement is required and the amount can be measured reliably. All costs are allocated to the applicable expenditure heading that aggregate similar costs to that category. Where costs cannot be directly attributed to particular headings they have been allocated on a basis consistent with the use of resources, with central staff costs allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use. Other support costs are allocated based on the spread of staff costs.

Charitable activities

Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.

Government grants

Government grants are recognised based on the accrual model and are measured at the fair value of the asset received or receivable. Grants are classified as relating either to revenue or to assets. Grants relating to revenue are recognised in income over the period in which the related costs are recognised. Grants relating to assets are recognised over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income.

Taxation

The charity is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes.

Tangible fixed assets

Individual fixed assets costing £300.00 or more are initially recorded at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

Depreciation and amortisation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class Depreciation method and rate
Computer equipment 33.3% straight line
Furniture and equipment 33.3% straight line
Land and buildings 0%

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the charity will not be able to collect all amounts due according to the original terms of the receivables.

Page 11

Community Recording Studio

Notes to the Financial Statements for the Year Ended 30 November 2023

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Fund structure

Unrestricted income funds are general funds that are available for use at the trustees' discretion in furtherance of the objectives of the charity.

Restricted income funds are those grants for use in a particular area or for specific purposes, the use of which is restricted to that area or purpose.

Pensions and other post retirement obligations

The charity operates a defined contribution pension scheme for employees. The assets of the scheme are held separately from those of the charity. Pension costs charges in the Statement of Financial Activities represent the contributions payable by the charity during the year.

2 Income from donations and legacies

Donations and legacies;
Donations from community groups		 Total
2023
£
-
-		 Total
2022
£
5,350
5,350

Page 12

Community Recording Studio

Notes to the Financial Statements for the Year Ended 30 November 2023

3 Income from charitable activities

Unrestricted
funds
General
£
Grants
-
Fees
1,391
1,391
4
Grants & donations
Children in need
Lottery fund
Nottingham City Council
Nottingham Forest
Nottinghamshire Police & Crime Commissioner
Places for People
Street Games
The Renewal Trust
Trent Bridge Community
Youth Music		 Restricted
funds
£
104,304
-
104,304
Unrestricted
funds
£
-
-
-
-
-
-
-
-
-
-
-		 Total
2023
£
104,304
1,391
105,695
Restricted
funds
£
9,472
36,503
19,856
6,300
25,000
685
750
4,400
1,120
218
104,304		 Total
2022
£
201,883
1,497
203,380
Total
£
9,472
36,503
19,856
6,300
25,000
685
750
4,400
1,120
218
104,304

Page 13

Community Recording Studio

Notes to the Financial Statements for the Year Ended 30 November 2023

5 Expenditure on charitable activities

Accountancy fees
Advertising & promotional
Bank charges
Cleaning
Consultancy
Depreciation
Hospitality
Insurances
Legal & professional fees
Office & general admin
Phone costs
Programme costs
Repairs & renewals
Subscriptions
Training
Travel
Wages, NI & pension
Workshops: Freelance staff
Utilities		 Unrestricted
General funds
£
Restricted funds
£
1,482
-
-
6,475
-
-
-
780
234
11,117
1,309
-
-
-
1,654
1,701
-
-
-
1,168
-
2,461
-
6,308
-
220
-
94
-
-
-
18
1,758
97,528
-
-
-
11,465
6,437
139,335		 Total
2023
£
1,482
6,475
-
780
11,351
1,309
-
3,355
-
1,168
2,461
6,308
220
94
-
18
99,286
-
11,465
145,772		 Total
2022
£
1,611
878
39
-
10,945
4,591
178
2,835
2,315
1,962
2,680
42,065
184
1,119
425
244
146,286
3,176
10,012
231,545

6 Net incoming/outgoing resources

Net outgoing resources for the year include:

Depreciation of fixed assets

2023 2022
£ £
1,309 4,591

Page 14

Community Recording Studio

Notes to the Financial Statements for the Year Ended 30 November 2023

7 Staff costs

The aggregate payroll costs were as follows:

Staff costs during the year were:
Wages and salaries
Social security costs
Pension costs		 2023
£
92,115
5,663
1,508
99,286		 2022
£
135,753
8,552
1,981
146,286

The monthly average number of persons (including senior management team) employed by the charity during the year was as follows:

Average number of employees 2023
No
8		 2022
No
9

4 (2022 - 4) of the above employees participated in the Defined Contribution Pension Schemes.

Contributions to the employee pension schemes for the year totalled £1,508 (2022 - £1,981).

No employee received emoluments of more than £60,000 during the year.

8 Tangible fixed assets

Cost
At 1 December 2022
At 30 November 2023
Depreciation
At 1 December 2022
Charge for the year
At 30 November 2023
Net book value
At 30 November 2023
At 30 November 2022		 Land and
buildings
£
40,000
40,000
-
-
-
40,000
40,000		 Furniture and
equipment
£
55,274
55,274
55,274
-
55,274
-
-		 Computer
equipment
£
29,678
29,678
28,369
1,309
29,678
-
1,309		 Total
£
124,952
124,952
83,643
1,309
84,952
40,000
41,309

Page 15

Community Recording Studio

Notes to the Financial Statements for the Year Ended 30 November 2023

9 Debtors

9
Debtors
Trade debtors
Prepayments
Other debtors		 2023
£
384
-
27,099
27,483		 2022
£
117
216
30,221
30,554

10 Creditors: amounts falling due within one year

Other taxation and social security
Other creditors
Accruals
11 Analysis of net assets between funds
Tangible fixed assets
Current assets
Current liabilities
Total net assets
Tangible fixed assets
Current assets
Current liabilities
Total net assets		 Unrestricted
General
£
40,000
(26,311)
(5,915)
7,774
Unrestricted
General
£
41,309
(16,121)
(12,368)
12,820		 2023
£
2,422
1,777
1,716
5,915
Restricted
£
-
59,489
-
59,489
Restricted
£
-
94,520
-
94,520		 2022
£
1,544
9,342
1,482
12,368
2023
Total funds
£
40,000
33,178
(5,915)
67,263
2022
Total funds
£
41,309
78,399
(12,368)
107,340

Page 16

Community Recording Studio

Notes to the Financial Statements for the Year Ended 30 November 2023

12 Funds
Unrestricted funds
General
General
Restricted funds
Children in Need
Full Effect fund
YEI fund
Kickstart
Out of Many One People
Community MC's fund
Developing Skills fund
Sound Mind fund
Sustainability Plan fund
Boots
Covid 19 fund
Notts Police Crime
Commissioner
ESF fund
Places for People
Street Games
Renewal Trust
Trent Bridge Community
Nottingham Forest
The National Lottery Community
Fund
Total restricted funds
Total funds		 Balance at 1
December
2022
£
12,820
1,147
7,354
-
2
3,539
49,780
9,632
6,630
4,246
8,276
961
1,917
1,036
-
-
-
-
-
-
94,520
107,340		 Incoming
resources
£
1,391
9,472
-
19,856
-
218
-
-
-
-
-
-
25,000
-
685
750
4,400
1,120
6,300
36,503
104,304
105,695		 Resources
expended
£
(6,437)
(8,500)
(7,354)
(19,856)
(2)
(3,757)
(19,850)
(8,500)
(5,700)
(4,246)
(8,276)
(961)
(17,992)
(1,036)
(685)
(750)
(4,400)
(1,120)
(5,300)
(21,050)
(139,335)
(145,772)		 Balance at 30
November
2023
£
7,774
2,119
-
-
-
-
29,930
1,132
930
-
-
-
8,925
-
-
-
-
-
1,000
15,453
59,489
67,263

Page 17

Community Recording Studio

Notes to the Financial Statements for the Year Ended 30 November 2023

The specific purposes for which the funds are to be applied are as follows:

Children in Need - funding to deliver behaviour workshops alongside music and video creative and technical skills for young people living in a disadvantaged area;

Full Effect fund - Royal Foundation partnership funding towards the running costs of Full Effect; YEI fund - funding from Nottingham City Council to get young people into education, training and employment;

Kickstart fund - funding from DWP for employment opportunities. CRS used this funding for a photography assistant, 2 x assistant engineers and an admin worker;

Out of Many One People - funding from Youth Music for an album and tour;

Community MC's - a project working with young people using arts and other activities to enable them to address community issues;

Developing Skills fund - funding from Postcode Places Trust to deliver a music based training and development programme that reduces the impact of poverty by growing young peoples employment skills and gaining accreditation;

Sound Mind - funding from The Wheatcroft Fund to build emotional resilience and mental well being of young people in Nottingham who have been disproportionately affected by the Covid-19 crisis; Sustainability Plan fund - Royal Foundation partnership funding towards developing a sustainable future for the project;

Boots - Community support fund;

Covid 19 fund - funds received from the Lottery, Children in Need and Comic Relief for response to the Covid 19 pandemic;

Nottinghamshire Police & Crime Commissioner - Community support work;

ESF fund - the Futures Group provide the funding for our Growth programme which supports young people aged 16-30 to build their confidence, explore some aspirations and gain transferable skills through a range of creative activities. These include collaboration with a producer to create their own song, vocal coaching and recording along with individual mentoring and support with job related activities;

Places for people - this supports our "Football is Life"project which involves facilitating football sessions that bring young people across the city together to build connections, confidence and dialogue; Street Games - this supports our delivering tennis-sessions, attending tennis tournaments at a local tennis centre and training some youth-workers to give tennis-lessons;

Renewal Trust - community outreach work;

Trent Bridge Community - this supports delivering sport and activities for children and young people; Nottingham Forest - this supports our "Football is Life" project which involves facilitating football sessions that bring young people across the city together to build connections, confidence and dialogue;

The National Lottery Community Fund - this relates to continued support and funding for our "Community MC's "project.

Page 18

Community Recording Studio

Notes to the Financial Statements for the Year Ended 30 November 2023

Unrestricted funds
General
General
Restricted
Children in Need
Full Effect fund
YEI fund
Kickstart
We All fund
Out of Many One People
Community MC's fund
Developing Skills fund
Sound Mind fund
Sustainability Plan fund
Boots
Covid 19 fund
Notts Police Crime
Commissioner
ESF fund
Total restricted funds
Total funds		 Balance at 1
December
2021
£
73,664
-
11,316
-
335
-
227
7,015
11,667
6,711
12,050
-
5,311
-
1,859
56,491
130,155		 Incoming
resources
£
6,847
9,400
-
30,711
18,390
(4,350)
67,742
46,047
-
-
-
8,943
-
25,000
-
201,883
208,730		 Resources
expended
£
(67,691)
(8,253)
(3,962)
(30,711)
(18,723)
4,350
(64,430)
(3,282)
(2,035)
(81)
(7,804)
(667)
(4,350)
(23,083)
(823)
(163,854)
(231,545)		 Balance at 30
November
2022
£
12,820
1,147
7,354
-
2
-
3,539
49,780
9,632
6,630
4,246
8,276
961
1,917
1,036
94,520
107,340

13 Fees payable to independent examiner

During the period, the fees payable (excluding VAT) to the charity’s independent examiner Community Accounting Plus are analysed as follows:

Independent examination
Other financial services		 2023
£
1,430
1,959
3,389		 2022
£
1,235
1,926
3,161

Page 19

Community Recording Studio

Notes to the Financial Statements for the Year Ended 30 November 2023

14 Trustees remuneration and expenses

No trustees, nor any persons connected with them, have received any remuneration from the charity during the year.

No trustees have received any reimbursed expenses or any other benefits from the charity during the year.

15 Related party transactions

There were no related party transactions in the year.

16 Charity status

The charity is a company limited by guarantee and consequently does not have share capital. Each of the trustees is liable to contribute an amount not exceeding £10 towards the assets of the charity in the event of liquidation.

Page 20