**THE DACAPO MUSIC FOUNDATION LIMITED (A COMPANY LIMITED BY GUARANTEE)**
**REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2021**
**Registered Charity No: 1136051 Registered Company No: 06698862 (England and Wales)**
## **THE DACAPO MUSIC FOUNDATION LIMITED**
## **CONTENTS**
||**Page No**|
|---|---|
|Charity Reference and Administrative Details|1|
|Trustees' Annual Report|2 – 4|
|Independent Examination Report|5|
|Statement of Financial Activities (including Income and Expenditure Account)|6|
|Balance Sheet|7|
|Notes to the Accounts|8 – 14|
## **THE DACAPO MUSIC FOUNDATION LIMITED**
## **CHARITY REFERENCE AND ADMINISTRATIVE DETAILS**
|**Charity registration number**|1136051||
|---|---|---|
|**Company registration number**|06698862||
|**Principal**|Jane Cutler||
|**CEO**|Michelle Groves||
|**Trustees**|Andrew James Flemming|Resigned 31st October 2020|
||Monica Ann Healy||
||Saskia Agnes Guido Janssens|Resigned 10th December 2021|
||Stephen Everett Kenzie||
||Jonathan Peter McClelland||
||Rebecca Muenger|Appointed 30th August 2021|
||David Andrew Revels|Resigned 10th December 2021|
||Elizabeth Nell Norman|Appointed 24th February 2022|
|**Secretary**|Andrew James Flemming|Resigned 31st October 2020|
|**Key Management Personnel**|Jane Cutler||
||Michelle Groves||
|**Registered Office**|c/o Wren Academy||
||Hilton Avenue||
||North Finchley||
||London||
||N12 9HB||
|**Accountant**|Martin Hardie BA, FCA||
||Apex Professional Services||
||88 Cranley Gardens||
||London||
||N10 3AH||
|**Independent Examiner**|N Curd FCCA||
||N. Russell & Co Limited||
||Chartered Certified Accounts||
||Baywood||
||4 Brittains Lane||
||Sevenoaks||
||Kent||
||TN13 2ND||
|**Bankers**|National Westminster Bank Plc||
||120 High Street||
||Barnet||
||Hertfordshire||
||EN5 5FF||
|**Solicitors**|Victoria Barrett MA, LLB||
||VLT Legal||
||Crendon Cottage||
||Chapel Hill Speen||
||Buckinghamshire||
||HP27 0SL||
1
## **THE DACAPO MUSIC FOUNDATION LIMITED**
## **TRUSTEES' ANNUAL REPORT** _**FOR THE YEAR ENDED 31 AUGUST 2021**_
The Trustees present their report and examined financial statements of the charity for the year ended 31 August 2021. The Trustees have adopted the provisions of the Statement of Recommended Practice (SORP) “Accounting and Reporting by Charities” (FRS 102) in preparing the annual report and financial statements of the charity.
The financial statements have been prepared in accordance with the accounting policies set out in the notes to the accounts and comply with the charity’s governing document, the Charities Act 2011 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 published on 16 July 2014, as amended by Bulletin 1.
## **Objectives and activities**
The objects are to advance the DaCapo approach to music education and appreciation for children and adults in the United Kingdom. This will be achieved through family music centres, in school and out of school workshops and projects and also through a comprehensive teacher training programme.
## **Public benefit statement**
The DaCapo Music Foundation Limited 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.
The trustees confirm that they have referred to the guidance contained in the Charity Commission’s general guidance on public benefit when reviewing the charity’s aims and objectives and in planning future activities.
## **Achievements and Performance**
Notwithstanding the backdrop of a global pandemic and the challenges which this has brought, the Foundation has continued to deliver its music education curriculum throughout the year, adapting rapidly to the need to provide an online offering. The speed and commitment of Jane and the teaching staff in producing first rate videos for class teaching and running ensembles in readiness was nothing short of phenomenal.
As well as continuing with its teaching (both within schools and at the Saturday centre), the Foundation has also continued to develop its partnerships with other organisations. We continue to work with the Fantasia orchestra, an orchestra of exceptional young musicians; one of the highlights of the year between lockdowns was a visit by a group of DaCapo teenagers to meet the orchestra including its conductor Tom Featherston-Haugh and the renowned cellist Sheku Kanneh-Mason.
We continue to work with Proms at St. Jude’s and participated in their annual event in June which sadly had to be online this year.
## **Risk factors**
The trustees have assessed the major risks to which the charitable company is exposed, and are satisfied that systems are in place to mitigate exposure to them. The trustees continue to review and monitor the systems for managing the major strategic, business and operational risks which the charitable company faces. Following the Covid-19 pandemic, the trustees updated the risk register for additional Covid related matters. As at 31 August 2021 the trustees have not identified any operational risks arising from such matters to which the charitable company may be exposed.
## **Financial review**
There was a deficit for the year of £12,745 (2021 Surplus £7,170). Reserves carried forward to next financial year stand at £22,224.
## **Reserves policy**
The reserves policy of The DaCapo Music Foundation has been reviewed by the Board of Trustees during this year. It is the intention of the directors to increase unrestricted reserves, in the medium term, to a level of approximately half a term of usual company expenditure, currently £35,000. The Trustees have assessed the major risks to which the charity is exposed and are satisfied that systems are in place to mitigate exposure to these risks. The reserves policy will be reviewed again later in 2022.
2
## **THE DACAPO MUSIC FOUNDATION LIMITED**
## **TRUSTEES' ANNUAL REPORT** _**FOR THE YEAR ENDED 31 AUGUST 2021**_
## **Plans for the future**
We are currently at a real turning point in terms of the charity’s direction, and we have initiated a strategy review which will include an engagement process with families and participants. Without pre-empting its conclusions, the Board of Trustees are committed to broadening access to music education through DaCapo to less well-off families as well as expanding our student base more generally.
We are also delighted to report that the Yehudi Menuhin School has asked DaCapo to provide support to its Early Years’ programme which will start next year. If we were looking for validation, what better a name to be associated with and long may this relationship develop and prosper.
## **Covid-19**
The trustees have considered the impact of the Covid-19 outbreak, which began in March 2020. The charitable company benefited from the Government coronavius support, by arranging a Bounceback Loan to assist with working capital requirements during this difficult period.
The financial statements have been prepared on a going concern basis as the trustees believe that no material uncertainties exist. The trustees have considered the level of funds held and the expected level of income and expenditure for 12 months from authorising these financial statements. The budgeted income and expenditure is sufficient with the level of reserves for the charitable company to be able to continue as a going concern.
## **Structure, governance and management**
## **Trustees of the charity**
The directors of the charitable company are its trustees for the purposes of charity law. The trustees who have served during the year and since the year end were as follows
Andrew James Flemming Resigned 31st October 2020 Monica Ann Healy Saskia Agnes Guido Janssens Resigned 10th December 2021 Stephen Everett Kenzie Jonathan Peter McClelland Rebecca Muenger Appointed 30th August 2021 David Andrew Revels Resigned 10th December 2021 Elizabeth Nell Norman Appointed 24th February 2022
The DaCapo Music Foundation Limited was incorporated as a company limited by guarantee and not having a share capital under the Companies Act 1985 on 16 September 2008. The DaCapo Music Foundation Limited is a registered charity, number 1136051, with effect from 21 May 2010 and is established under its Memorandum and Articles of Association.
The company has no share capital and the members of the board of trustees have no interest in its surplus or assets and receive no remuneration. No trustees have any contract or arrangement of a material nature with the charitable company during the period under review.
## **Appointment of trustees**
Trustees have been recruited either through a direct approach from other Trustees or the Directors or by open advertisement. The current Trustees are experienced and cover a number of the vital skills of marketing, legal knowledge, business organisation and education.
## **Recruitment of trustees**
Prospective trustees are recommended by existing trustees to join the board of trustees or advertisements are placed in the local press.
3
THE DACAPO MUSIC FOUNDATION LIMITED
TRUSTEES. ANNUAL REPORT
FOR THE YEAR ENDED 31 AUGUST 2021
Key management Porsonnel
The trustees consider the trust88$, the treasurer and the senior m8n8gemenl team cornprise the key managern8nt
p8rsonnel of th8 charity In ch8rge of directing and controlling, running and operating lh8 charity on a day to day b8818.
All trustees and key personnel give their lime freely.
Trustees. responsibilitie$
The trustees (who ar8 also directors of The Dacapo klusic Foundation Limit8d for the purwses of rA)rnpany lawl are
responsible for preparing the Trustees, Annual Report and the finanaal statements in a¢cA)rdance with applicable law
and United Kingdom A¢cA)unling Standards (United Kingdom Generally ACpted Accounting PTacticel.
Company 18w requires th8 trustees to prep8re financial statements for each financial yè8r, which gwe a true and fair
ew of the state tsf affairs of the charit8ble company and of the incoming resources and application of resoure85,
including the income and expenditure. ol the charitable company lor that period. In preparing these financial
statements. the trustees 8re required lo..
select suitable accounting policies and th8n apply Ihem consist8ndy',
observe the methods 8nd principles In the Charities SORP 2015 IFRS 1021.,
make judgements and estirnates that are reasonable and prudent.,
state whether applicable UK Accounts'ng Standards have been followed. Subjecl lo any material departure5
disclosed and explained in the financial statements.,
prepare the finanaal statements on the going concem basis unless it is inappropri8te to presume that the
charitable Cornpany will continue in operalK)n.
The trustees ar8 sponsible for ke8piw adequate accnuntsng tardS that discbs8 with reasonab accuracy at any
time the financial position of the charitable company and enab thern to 8nsur8 that the financial statements comply
wth the Companies Act 2006. They are also responsible for safeguarding the assets of the Lharitable company and
h8n(2 for taking reasonable Sleps for the preventfjon and detection of fraud and other irregul8ritie8.
In approving the Twstees, Annual Report. we also approve the Strateglc Report incjuded therein, in our capacity as
company dir&ctors.
By Ordèr of the Board
Date.. 23 May 2022
Jonathan Mcclelland
Chairnian. Director & Trust88
## **INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE DACAPO MUSIC FOUNDATION LIMITED**
I report to the trustees on my examination of the accounts of the company for the year ended 31 August 2021.
## **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:
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.
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.
N Curd FCCA N. Russell & Co Limited Baywood 4 Brittains Lane Sevenoaks Kent TN13 2ND
Date: 23 May 2022
5
## **THE DACAPO MUSIC FOUNDATION LIMITED**
## **STATEMENT OF FINANCIAL ACTIVITIES (INCLUDING INCOME AND EXPENDITURE ACCOUNT)** _**FOR THE YEAR ENDED 31 AUGUST 2021**_
|**Note **
**Income from:**
Donations and gifts
**2**
Charitable activities
**3**
**Total income**
**Expenditure on:**
Charitable activities
**4**
**Total expenditure**
**Total funds carried forward**
**Net movement in funds**
**Reconciliation of funds:**
**Total funds brought forward**|**Unrestricted**
**Restricted**
**Total Unrestricted**
**Restricted**
**Total**
**Funds**
**Funds**
**Funds**
**Funds**
**£**
**£**
**£**
**£**
**£**
**£**
10,059
-
10,059
8,283
-
8,283
237,627
-
237,627
260,446
-
260,446
**2021**
**2020**|
|---|---|
||247,686
-
247,686
268,729
-
268,729|
||260,431
-
260,431
261,559
-
261,559|
||260,431
-
260,431
261,559
-
261,559|
||(12,745)
-
(12,745)
7,170
-
7,170
34,969
-
34,969
27,799
-
27,799|
||22,224
-
22,224
34,969
-
34,969|
All transactions are derived from continuing activities.
All recognised gains and losses are included in the Statement of Financial Activities.
6
THE DACAPO MUSIC FOUNDATION LIMITED
BALANCE SHEET
AS A T31 AUGUST2021
Note
2021
2020
Flxed assots..
Tangible assets
Investment
18,231
21,689
10
Current assets..
Debtors
Cash at bank an¢J in hand
18,236
21,689
25,206
12,815
38,021
35,548
16,170
51,718
Liablllties:
Creditors falling due wlhin one year
15,284
14,769
Net current Illabilltlesvassets
22.737
40,973
36.949
58,638
Llabilltles..
Creditors falling due over one y88r
13
118,7491
123.6691
NET ASSETS
The lunds of the Charity:
unstrIcted Fkjnds
TOTAL FUNDS
14
22,224
34,969
The directors ar8 salisf18d that th8 company is entitled to ex8rnplion from the r8quir8menl to obtsin an audit undar
section 477 of the Companies Act 2006.
The m8rnbers have not required the eornpany lo obtsin an 8udit in 8(xor(lanc8 Wth section 476 of th8 ACL
The directors ackllowledge their responsibilities for eOTnplying with the requirements of the Comp8nies Act 2J6
respect to accounting records and the preparation of accounts.
The accounts hav8 been prepared and delwered in accA)rdance with Ihe 5P8cial provisions applicable lo eompanies
subject to the sm811 companies 91M8.
The financial slateTnents were approved and authorised for issue by th8 Board ofTrustees on 23 May 2022 and
signed on its beh81f by".
Jonathan Mcclelland
Director & Trustee
The notès on pages 8 to 14 form part of thesè financlal stsl8ments
Company Number: 06698882
## **THE DACAPO MUSIC FOUNDATION LIMITED**
## **NOTES TO THE ACCOUNTS**
_**FOR THE YEAR ENDED 31 AUGUST 2021**_
## **1 Accounting policies**
## **1.1 Basis of accounting**
The DaCapo Music Foundation Ltd is a registered charitable company in the United Kingdom. In the event of the charity being wound up, the liability in respect of the guarantee is limited to £1 per member of the charity. The address of the registered office is given in the charity information on page 1 of these financial statements. The nature of the charity’s operations and principal activities is to advance the DaCapo approach to music education and appreciation for children and adults in the United Kingdom.
The charity constitutes a public benefit entity as defined by FRS 102. The financial statements have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant notes to these accounts. The financial statements have been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) issued on 16 July 2014 as amended by Bulletin 1 and the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and the Charities Act 2011.
The financial statements are prepared on a going concern basis under the historical cost convention, modified to include certain items at fair value. The financial statements are prepared in sterling which is the functional currency of the charity.
The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.
## **1.2 Income recognition**
All income is included in the Statement of Financial Activities (SoFA) when the charity is legally entitled to the income after any performance conditions have been met, the amount can be measured reliably and it is probable that the income will be received.
For donations to be recognised the charity will have been notified of the amounts and the settlement date in writing. If there are conditions attached to the donation and this requires a level of performance before entitlement can be obtained then income is deferred until those conditions are fully met or the fulfilment of those conditions is within the control of the charity and it is probable that they will be fulfilled.
No amount is included in the financial statements for volunteer time in line with the SORP (FRS 102).
Fixed asset gifts in kind are recognised when receivable and are included at fair value. They are not deferred over the life of the asset.
Income from charitable activities includes income earned from fundraising events and trading activities to raise funds for the charity. Income is received in exchange for supplying goods and services in order to raise funds and is recognised when entitlement has occurred.
## **1.3 Expenditure recognition**
All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category. Expenditure is recognised where there is a legal or constructive obligation to make payments to third parties, it is probable that the settlement will be required and the amount of the obligation can be measured reliably. It is categorised under the following headings:
- Expenditure on charitable activities comprises those costs incurred by the charity in the delivery of its activities and services for beneficiaries. It includes both costs allocated directly to such activities and those costs of an indirect nature necessary to support them.
8
**THE DACAPO MUSIC FOUNDATION LIMITED**
## **NOTES TO THE ACCOUNTS**
_**FOR THE YEAR ENDED 31 AUGUST 2021**_
## **1 Accounting policies (continued)**
## **1.4 Support costs**
Support costs are those that assist the work of the charity but do not directly represent charitable activities and include office costs, governance costs, administrative payroll costs. They are incurred directly in support of expenditure on the objects of the charity.
The basis on which support costs have been allocated and the analysis of these costs is included in note 5.
## **1.5 Funds**
Unrestricted general funds are funds which can be used in accordance with the charitable objects at the discretion of the trustees.
## **1.6 Tangible fixed assets and depreciation**
Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Depreciation is provided on all tangible fixed assets, at rates calculated to write off the cost less estimated residual value, of each asset on a systematic basis over its expected useful life, as follows:
Fixtures and fittings
25% reducing balance
## **Impairment**
Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance sheet date. If such indication exists, the recoverable amount of the asset, or the asset’s cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in profit or loss unless the asset is carried at a revalued amount where the impairment loss is a revaluation decrease.
## **1.7 Debtors and creditors receivable / payable within one year**
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in expenditure.
## **1.8 Tax**
The charity is an exempt charity within the meaning of schedule 3 of the Charities Act 2011 and is considered to pass the tests set out in Paragraph 1 Schedule 6 Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes.
## **1.9 Going concern**
The financial statements have been prepared on a going concern basis as the trustees believe that no material uncertainties exist. The trustees have considered the level of funds held and the expected level of income and expenditure for 12 months from authorising these financial statements. The budgeted income and expenditure is sufficient with the level of reserves for the charity to be able to continue as a going concern. The trustees have considered the impact of the Covid-19 outbreak, which began in March 2020. There haven't been any cash flow or going concern issues identified.
## **1.10 Judgements and key sources of estimation uncertainty**
Accounting estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
- i. **Useful economic lives of tangible assets**
The annual depreciation charge for tangible assets is sensitive to changes in the estimated useful economic lives and residual values of the assets. The useful economic lives and residual values are reassessed annually. They are amended when necessary to reflect current estimates, based on technological advancement, future investments, economic utilisation and the physical condition of the assets. See note 9 for the carrying amount of the property plant and equipment, and note 1.6 for the useful economic lives for each class of assets.
9
## **THE DACAPO MUSIC FOUNDATION LIMITED**
## **NOTES TO THE ACCOUNTS**
_**FOR THE YEAR ENDED 31 AUGUST 2021**_
## **1 Accounting policies (continued)**
## **1.11 Financial instruments**
The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.
|**2**
**Income from donations**
Donations and gifts|**2021**
**2020**
**£**
**£**
10,059
8,283|
|---|---|
||10,059
8,283|
The charity benefits from the involvement and support of volunteers. In accordance with FRS 102 and the Charities SORP (FRS 102), the economic contribution of general volunteers is not recognised in the accounts.
|**3**|**Income from charitable activities**|||||**2021**|**2020**|
|---|---|---|---|---|---|---|---|
|||||||**£**|**£**|
||Music centre|||||115,609|126,319|
||Schools programmes|||||121,619|130,625|
||Projects|||||(614)|2,317|
||Accreditation|||||1,013|1,185|
|||||||237,627|260,446|
|**4**|**Expenditure on charitable activities**|||**2021**|||**2020**|
|||**Direct**|**Support and**|**Total**|**Direct costs**|**Support and**|**Total**|
|||**costs**|**Governance**|||**Governance**||
||||**Costs**|||**Costs**||
|||**£**|**£**|**£**|**£**|**£**|**£**|
||Music centre|94,687|41,370|136,057|92,421|32,689|125,110|
||Schools programmes|83,806|36,616|120,422|91,891|32,501|124,392|
||Projects|2,750|1,202|3,952|8,607|3,044|11,651|
||Other||-|-|300|106|406|
|||181,243|79,188|260,431|193,219|68,340|261,559|
10
**THE DACAPO MUSIC FOUNDATION LIMITED**
## **NOTES TO THE ACCOUNTS** _**FOR THE YEAR ENDED 31 AUGUST 2021**_
## **5 Allocation of governance and support costs**
The charity initially identifies the costs of its support functions. It then identifies those costs which relate to the governance function. Having identified its governance costs, the remaining support costs together with the governance costs are apportioned between the activities undertaken during the year. The support costs and governance costs are allocated prorata to direct expenditure.
|Staff costs
Wages
Pensions
Training
Temporary staff and recruitment
Meetings, entertaining, canteen
Travel and subsistence
Motor expenses
Premises costs
Rent
General administrative expenses
Telephone and fax
Postage
Stationery and printing
Donations
Subscriptions
Bank charges and interest
Insurance
Repairs and maintenance
Depreciation
Sundry expenses
**6**
**Governance costs**
Accountancy fees
Advertising and PR
Other legal and professional fees|**2021**
**Total**
**2020**
**Total**
**£**
**£**
29,380
24,523
992
880
62
18
3,593
2,551
1,110
1,662
57
431
1,568
2,520
7,093
8,868
2,744
2,553
426
214
1,471
1,736
-
29
582
736
1,001
1,053
1,682
1,672
2,739
1,421
5,190
5,836
1,751
550|
|---|---|
||61,441
57,253|
||**2021**
**2020**
**£**
**£**
1,718
1,704
13,424
8,875
2,605
508|
||17,747
11,087|
## **7 Staff costs and employee benefits**
The average number of employees during the year was 3 (2020: 3).
There are no employees with emoluments above £60,000 (2020: None).
|The total staff costs and employees benefit’s was as follows
Gross wages
Employer's pension contributions|**2021**
**2020**
**£**
**£**
29,380
24,523
992
880|
|---|---|
||30,372
25,403|
11
**THE DACAPO MUSIC FOUNDATION LIMITED**
## **NOTES TO THE ACCOUNTS** _**FOR THE YEAR ENDED 31 AUGUST 2021**_
## **8 Trustees' and key management personnel remuneration and expenses**
The trustees neither received nor waived any remuneration during the year (2020: £Nil).
The total amount of remuneration received by the two staff who are the key management personnel is £nil (2020: £nil). The Trust considers its key management personnel comprise the Principal and CEO.
During the year, no trustees received reimbursement of expenditure incurred on behalf of the charitable company (2020: none).
|**9**
**Tangible Assets**
**Cost**
As at 1 September 2020
Additions
At 31 August 2021
**Depreciation**
As at 1 September 2020
Charge for the year
At 31 August 2021
**Net book values**
At 31 August 2021
At 31 August 2020
**10**
**Investments**
**Cost**
As at 1 September 2020
Additions
At 31 August 2021
**11**
**Debtors**
Trade debtors
Other debtors
**12**
**Creditors: amounts falling due within one year**
Trade creditors
Other taxes and social security
Other creditors|**Office**
**fixtures and**
**fittings**
**Total**
**£**
**£**
55,158
55,158
1,732
1,732|
|---|---|
||56,890
56,890|
||33,469
33,469
5,190
5,190|
||38,659
38,659|
||18,231
18,231|
||21,689
21,689|
||**Other**
**investments**
**Total**
**£**
**£**
-
-
5
5|
||5
5|
||**2021**
**2020**
**£**
**£**
10,081
14,687
15,125
20,861|
||25,206
35,548|
||**2021**
**2020**
**£**
**£**
7,183
9,570
475
241
7,626
4,958|
||15,284
14,769|
12
**THE DACAPO MUSIC FOUNDATION LIMITED**
## **NOTES TO THE ACCOUNTS**
## _**FOR THE YEAR ENDED 31 AUGUST 2021**_
|**13**|**Creditors: amounts falling due after one year**||||**2021**|**2020**|
|---|---|---|---|---|---|---|
||||||**£**|**£**|
||Other creditors||||18,749|23,669|
||||||18,749|23,669|
|**14**|**Fund reconciliation**||||||
||**Unrestricted funds 2020**||||||
|||**As at 1**|**Income**|**Expenditure**|**Transfers**|**As at 31**|
|||**September**||||**August 2020**|
|||**2019**|||||
|||**£**|**£**|**£**|**£**|**£**|
||Unrestricted
|27,799|268,729|(261,559)|-|34,969|
|||27,799|268,729|(261,559)|-|34,969|
||**Unrestricted funds 2021**||||||
|||**As at 1**|**Income**|**Expenditure**|**Transfers**|**As at 31**|
|||**September**||||**August 2021**|
|||**2020**|||||
|||**£**|**£**|**£**|**£**|**£**|
||Unrestricted
|34,969|247,686|(260,431)|-|22,224|
|||34,969|247,686|(260,431)|-|22,224|
## **Fund descriptions**
## **(a) Unrestricted funds**
This represents the general funds which can be used in accordance with the charitable
## **15 Analysis of net assets between funds**
|**2020**
Unrestricted funds
**2021**
Unrestricted funds|**Tangible**
**Net current**
**2020**
**fixed assets**
**assets less**
**Total**
**creditors**
**£**
**£**
**£**
21,689
13,280
34,969|
|---|---|
||21,689
13,280
34,969|
||**Tangible**
**Net current**
**2021**
**fixed assets**
**assets less**
**Total**
**creditors**
**£**
**£**
**£**
18,236
3,988
22,224|
||18,236
3,988
22,224|
## **16 Related party transactions**
During the year the charitable company entered into the following transactions with related parties or trustees.
||**2021**|**2020**|
|---|---|---|
||**£**|**£**|
|Amounts owed to related parties|65|65|
|Amounts owed by related parties|10,689|9,913|
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## **THE DACAPO MUSIC FOUNDATION LIMITED**
## **NOTES TO THE ACCOUNTS**
_**FOR THE YEAR ENDED 31 AUGUST 2021**_
## **17 Covid-19**
Following the Covid-19 pandemic, the trustees have assessed the operational and financial impact on the charity in the Trustees Report on page 3 and in the going concern statement at note 1.9.
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