**REGISTERED COMPANY NUMBER: 06698862 (England and Wales) REGISTERED CHARITY NUMBER: 1136051** ## **Report of the Trustees and** ## **Unaudited Financial Statements** **for the Year Ended 31 August 2023** ## **for** **The Dacapo Music Foundation Limited** Warr & Co Limited Chartered Accountants Mynshull House 78 Churchgate Stockport Cheshire SK1 1YJ **The Dacapo Music Foundation Limited** ## **Contents of the Financial Statements for the Year Ended 31 August 2023** |||**Page**|| |---|---|---|---| |**Reference and administrative details**||1|| |**Report of the trustees**|2|to|4| |**Independent examiner's report**||5|| |**Statement of financial activities**||6|| |**Balance sheet**|7|to|8| |**Notes to the financial statements**|9|to|18| |**Detailed statement of financial activities**|19|to|20| **The Dacapo Music Foundation Limited** ## **Reference and Administrative Details for the Year Ended 31 August 2023** |**Trustees**|Ms M A Healy| |---|---| ||S E Kenzie (resigned 19.12.22)| ||J P Mcclelland| ||Ms R Muenger| ||Ms E N Norman| ||S Sreedher (appointed 4.12.22)| ||D Spreadbury (appointed 11.1.23)| ||G Colella (appointed 1.4.23)| ||Ms H Ding (appointed 12.10.23)| |**Registered office**|Wren Academy| ||Hilton Avenue| ||London| ||N12 9HB| |**Registered company number**|06698862 (England and Wales)| |**Registered charity number**|1136051| |**Independent examiner**|Warr & Co Limited| ||Chartered Accountants| ||Mynshull House| ||78 Churchgate| ||Stockport| ||Cheshire| ||SK1 1YJ| |**Bankers**|National Westminster Bank PLC| ||120 High Street| ||Barnet| ||Hertfordshire| ||EN5 5FF| Page 1 ## **The Dacapo Music Foundation Limited** ## **Report of the Trustees for the Year Ended 31 August 2023** The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 August 2023. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019). ## **Objectives and activities** ## **Objectives and aims** 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** 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. ## **Achievement and performance** ## **Charitable activities** It has been another successful year for DaCapo in its delivery of a first class and innovative musical education both at our Saturday Centre and within 10 London primary schools. Over the year, DaCapo's educational offering has again been enriched by its partnerships with other organisations, notably the Fantasia Orchestra and Proms at St Jude's whose annual festival in June each year is a musical highlight for our primary school students. During the year we trialled a new project with the Little Angel Theatre which delivers a low cost, multi disciplinary project targeting families on low incomes. At their quarterly board meetings, the trustees consider a number of metrics to monitor the performance of the charity including numbers of new families attending the Saturday centre (and departing), any changes to the number of primary schools supported by DaCapo, details of grant applications made and their success and project work development supporting the charity's social impact strategy. DaCapo has also initiated an annual survey to elicit feedback from its key stakeholders (families, schools and teachers) on all aspects of its operation. During the course of the year, the Trustees noted DaCapo's success in teaching children and adults from 102 families at the Saturday Centre (2022 135) and supporting 9 state primary schools in North London (2022: 10 ]. This primary school work along with the puppet theatre project enable DaCapo to provide its unique holistic music education programme to a broader audience. ## **Financial review** ## **Financial position** Overall, costs exceeded income resulting in a deficit of £3,092 (2022 £10,827). Reserves carried forward to next financial year stand at £8,304 (2022 £11,397). Page 2 ## **The Dacapo Music Foundation Limited** ## **Report of the Trustees for the Year Ended 31 August 2023** ## **Financial review** ## **Reserves policy** The reserves policy of The DaCapo Music Foundation has been reviewed by the Board of Trustees. It is the intention of the directors to work towards an increased level of unrestricted reserves, in the medium term, to a level of £45,000 considered to be sufficient for approximately half a term of usual expenditure, although it is noted that current year costs would indicate a level of £60,500 would be required. Current reserves fall below the level determined and the trustees are acutely aware of the need to improve profitability. They are committed to supporting the CEO in working towards increasing income levels by focusing on increased grant applications. Since the year end, DaCapo has engaged the services of Vantage Fundraising to support this activity. ## **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 charitable company to be able to continue as a going concern. ## **Covid -19** The charitable company benefitted from the Government coronavirus support by arranging a Bounceback Loan to assist with working capital requirements during this difficult period. This has been partially drawn down. ## **Future plans** The DaCapo Board remains focussed on the continued provision of a first level standard of care and support to our Saturday families and primary schools whilst developing programmes which will extend access to a DaCapo musical education to less well-off families. The project with the Little Angel Theatre Company is an example of this. ## **Structure, governance and management** ## **Governing document** 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 was registered as a charity, number 1136051, with effect from 21 May 2010 under its Memorandum and Articles of Association. Dacapo 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 Foundation during the period under review. ## **Recruitment and appointment of new trustees** Prospective trustees are recommended by existing trustees or the Foundation's senior management to join the board of trustees or by open advertisement. In selecting new trustees, the Board is cognisant of the importance of diversity in its composition as well as ensuring that there is a relevant range of skillsets and knowledge represented on the Board. ## **Organisational structure** The trustees consider the trustees and the senior management team comprise the key management personnel of the Foundation in charge of directing and controlling, running and operating the charity on a day to day basis. All trustees and key personnel give their time freely. The senior management team include: Principal Jane Cutler Chief Executive Officer Michelle Groves Page 3 o Nlllsif boundation Limited R_eport of the Trustees r the Year E ed31.4 ust 2023 Strueture, %overnance management Risk mana2L'mL'nt The trus¢ces have a duly to id¢ntify and revicw ihe risk5 to which the charity is exposed and to ¢nsure approptiate controls are in place to provide reasonabl¢ assurnnce aga1j￿1 traud and ¢rror. The trusl¢¢s have assessed the major risks to whi¢h Dac3po its exposed, dnd arc Sdtisfi¢d thai systems arL in plac¢ to lllii1¥a￿ exrK>surc to Ihem. The twstccs continue to rcVi¢￿. and monitor thc systcms for mwiaginb the nwjor sirategic. bwsiness and op¢raiional risks which Da¢a￿ faLes. As at 31 August 2023 d)e truste¢s hai'e not id¢niified new operdiional risks arising from such maitets to ￿,hICh Dacapo ￿Y be exFN)sed. Approved by order of thc Fx)ard of trust¢cs on ..g2:..U.. Mo4..l.624-... and signed on its bchalf by.. J P Mcclclland- Trustcc Page 4 ## **Independent Examiner's Report to the Trustees of The Dacapo Music Foundation Limited** **Independent examiner's report to the trustees of The Dacapo Music Foundation Limited ('the Company')** I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 August 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. Page 5 ## **Independent Examiner's Report to the Trustees of The Dacapo Music Foundation Limited** ## **Independent examiner's statement** Since your charity's gross income exceeded £250,000 your examiner must be a member of a listed body. I can confirm that I am qualified to undertake the examination because I am a member of the Institute of Chartered Accountants in England and Wales, which is one of the listed bodies. 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 (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. Nicola Joyce ACA, FCCA The Institute of Chartered Accountants in England and Wales Warr & Co Limited Chartered Accountants Mynshull House 78 Churchgate Stockport Cheshire SK1 1YJ 28 May 2024 Page 6 ## **The Dacapo Music Foundation Limited** ## **Statement of Financial Activities (Incorporating an Income and Expenditure Account) for the Year Ended 31 August 2023** ||||||**31.8.23**|31.8.22| |---|---|---|---|---|---|---| |||Unrestricted|Restricted||**Total**|Total| |||fund|fund||**funds**|funds| ||Notes|£|£||**£**|£| |**Income and endowments from**||||||| |Donations and legacies||**139**|**3,000**||**3,139**|19,343| |**Charitable activities**||||||| |Music Centre||**148,112**||**-**|**148,112**|124,441| |Schools Programmes||**167,554**||**-**|**167,554**|143,421| |Projects||**40,211**||**-**|**40,211**|6,550| |Accreditation||**348**||**-**|**348**|288| |30th Birthday Celebrations||**-**||**-**|**-**|6,768| |Other income||**238**||**-**|**238**|-| |**Total**||**356,602**|**3,000**||**359,602**|300,811| |**Expenditure on**||||||| |**Charitable activities**|3|||||| |Music Centre||**167,670**||**-**|**167,670**|147,039| |Schools Programmes||**172,292**||**-**|**172,292**|148,443| |Projects||**16,018**|**6,715**||**22,733**|9,858| |30th Birthday Celebrations||**-**||**-**|**-**|6,298| |**Total**||**355,980**|**6,715**||**362,695**|311,638| |**NET INCOME/(EXPENDITURE)**||**622**|**(3,715)**||**(3,093)**|(10,827)| |**Reconciliation of funds**||||||| |Total funds brought forward||**1,547**|**9,850**||**11,397**|22,224| |**Total funds carried forward**||**2,169**|**6,135**||**8,304**|11,397| The notes form part of these financial statements Page 6 ## **The Dacapo Music Foundation Limited** ## **Balance Sheet** ## **31 August 2023** |||||**31.8.23**|31.8.22| |---|---|---|---|---|---| |||Unrestricted|Restricted|**Total**|Total| |||fund|fund|**funds**|funds| ||Notes|£|£|**£**|£| |**Fixed assets**|||||| |Tangible assets|9|**15,240**|**-**|**15,240**|16,972| |Investments|10|**5**|**-**|**5**|5| |||**15,245**|**-**|**15,245**|16,977| |**Current assets**|||||| |Debtors|11|**12,634**|**-**|**12,634**|18,687| |Cash at bank and in hand||**15,469**|**6,135**|**21,604**|15,502| |||**28,103**|**6,135**|**34,238**|34,189| |**Creditors**|||||| |Amounts falling due within one year|12|**(32,101)**|**-**|**(32,101)**|(26,019)| |**Net current assets**||**(3,998)**|**6,135**|**2,137**|8,170| |**Total assets less current liabilities**||**11,247**|**6,135**|**17,382**|25,147| |**Creditors**|||||| |Amounts falling due after more than one year|13|**(9,078)**|**-**|**(9,078)**|(13,750)| |**NET ASSETS**||**2,169**|**6,135**|**8,304**|11,397| |**Funds**|15||||| |Unrestricted funds||||**2,169**|1,547| |Restricted funds||||**6,135**|9,850| |**Total funds**||||**8,304**|11,397| The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2023. The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2023 in accordance with Section 476 of the Companies Act 2006. The notes form part of these financial statements continued... Page 7 The_Dac4po Mllsif Foundation Limited Balance Sh¢el- continued JJ Augu51202 The tru8tecg acknowledge their r¢S￿nSIbL11tieS for (al ensuring that Ihe charithble company keeps accounting rècor(ts thai comply with S¢ctions 386 and 387 of the Companies Act 21M6 and preparins financial s[a￿ments which give a true an¢J fair view of thc stste of affairs of th¢ charitabl¢ company as ai the eiid of ¢ach financial year and of its surplus or defjcit for eacli financial y&ir in accordance with Ihe requircmeiits of Seciions 394 and 395 and Hthich othetwigc comply with ihe requirements of the Companie5 Acr 2(K16 relating to financidl slAlemenw w fd. r dppliLabl¢ to the charirable compdny. Ibl Tliese tlndnc1￿ sthtcments have been wepared in accordance with the provisions applicabl¢ lo charitable COmp￿]ieS subjeci to the small companics regime. The financial stalements were approved by the Board of TA￿1¢¢$ and authorised lor issue on .......... . were si¥ned on its ￿hd]f by: J P Mccl¢lland- Trnstcc Th¢ not¢s forn) part of these flnancial sthternents Pagc 8 **The Dacapo Music Foundation Limited** ## **Notes to the Financial Statements** ## **for the Year Ended 31 August 2023** ## **1. Statutory information** The Dacapo Music Foundation Limited is a private charitable company, limited by guarantee and registered in England and Wales. The address of the registered office is shown on the charity information on page one of these financial statements. The nature of the charity's operations are detailed in the Trustees Report. ## **2. Accounting policies** ## **Basis of preparing the financial statements** The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention, with the exception of investments which are included at market value. The financial statements are presented in sterling, which is the functional currency of the charitable company. All amounts stated are rounded to the nearest £1. ## **Critical accounting judgements and key sources of estimation uncertainty** Accounting estimates and judgements are continually evaluated and are based on historical experience and In the application of the company's accounting policies, the trustees and directors are required to make judgements, estimates and assumptions about carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods. Tangible fixed assets are stated at cost less accumulated depreciation and accumulated impairment losses. Management have used their expectation of the estimated useful lives of each category of assets in order to ensure the appropriate provision is made for depreciation. Details of the estimated useful lives are noted in the accounting policies and the depreciation provision is stated in the notes to the accounts. ## **Income** All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably. Donations are recognised when the charity has received written notified of the amounts and the settlement date. If conditions are attached to the donation that require a level of performance before entitlement can be obtained then income is deferred until those conditions have been met or fulfilment of those conditions is within the control of the charity and it is probable they will be fulfilled. The charity benefits from the involvement and support of volunteers. The economic contribution of this support is not recognised in the accounts. continued... Page 9 **The Dacapo Music Foundation Limited** ## **Notes to the Financial Statements - continued** ## **for the Year Ended 31 August 2023** ## **2. Accounting policies - continued** ## **Income** Fixed asset gifts in kind are recognised when receivable and re included at fair value. Income from charitable activities includes income 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. ## **Expenditure** Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources. Expenditure on charitable activities comprises those costs incurred by the charity in the delivery of its activities and services to beneficiaries. It includes both costs allocated directly to such activities and those costs of an indirect nature necessary to support them. Support costs are those that assist the work of the charity but do not directly represent charitable activities and include office costs, governance costs and 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 the notes to the accounts. ## **Tangible fixed assets** Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life. Fixtures and fittings 25% reducing balance ## **Taxation** The charity is exempt from corporation tax on its charitable activities. ## **Fund accounting** Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees. Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes. Further explanation of the nature and purpose of each fund is included in the notes to the financial statements. continued... Page 10 **The Dacapo Music Foundation Limited** ## **Notes to the Financial Statements - continued for the Year Ended 31 August 2023** ## **2. Accounting policies - continued** ## **Pension costs and other post-retirement benefits** The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate. ## **Financial instruments** The charity has financial assets and financial liabilities of a kind that qualify as basic financial instruments. These are initially recognised at transaction value and subsequently measured at their settlement value. ## **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 a period of 12 months from the date of approval of these financial statements. The budgeted income and expenditure is sufficient with the level of reserves, and the support of a bank overdraft facility that is not currently utilised, for the charity to be able to continue as a going concern. ## **3. Charitable activities costs** |Support
Direct
costs (see
Costs
note 4)
£
£
Music Centre
**125,885**
**41,785**
Schools Programmes
**129,376**
**42,916**
Projects
**17,097**
**5,636**
**272,358**
**90,337**
**Support costs**
Governance
Management
costs
£
£
Music Centre
**35,303**
**6,482**
Schools Programmes
**36,260**
**6,656**
Projects
**4,763**
**873**
**76,326**
**14,011**|Totals
£
**167,670**
**172,292**
**22,733**|Totals
£
**167,670**
**172,292**
**22,733**| |---|---|---| ||**362,695**|| |||Totals
£
**41,785**
**42,916**
**5,636**| |||**90,337**| ## **4. Support costs** continued... Page 11 ## **The Dacapo Music Foundation Limited** ## **Notes to the Financial Statements - continued** ## **for the Year Ended 31 August 2023** ## **5. Net income/(expenditure)** Net income/(expenditure) is stated after charging/(crediting): ||**31.8.23**|31.8.22| |---|---|---| ||**£**|£| |Depreciation - owned assets|**4,328**|5,681| |Surplus/(deficit) on disposal of fixed assets|**(238)**|72| |Remuneration receivable by the charity's independent examiner in respect of:||| |Examination of the accounts|**1,140**|1,140| |Other services provided|**3,060**|1,560| ## **6. Trustees' remuneration and benefits** There were no trustees' remuneration or other benefits for the year ended 31 August 2023 nor for the year ended 31 August 2022. ## **Trustees' expenses** There were no trustees' expenses paid for the year ended 31 August 2023 nor for the year ended 31 August 2022. ## **7. Staff costs** |**Staff costs**||| |---|---|---| ||**31.8.23**|31.8.22| ||**£**|£| |Wages and salaries|**40,190**|31,279| |Other pension costs|**1,491**|1,238| ||**41,681**|32,517| |The average monthly number of employees during the year was as follows:||| ||**31.8.23**|31.8.22| |Administration of the charity|**2**|3| No employees received emoluments in excess of £60,000. continued... Page 12 ## **The Dacapo Music Foundation Limited** ## **Notes to the Financial Statements - continued for the Year Ended 31 August 2023** ## **8. Comparatives for the statement of financial activities** |Unrestricted
fund
£
**Income and endowments from**
Donations and legacies
9,493
**Charitable activities**
Music Centre
124,441
Schools Programmes
143,421
Projects
6,550
Accreditation
288
30th Birthday Celebrations
6,768
**Total**
290,961
**Expenditure on**
**Charitable activities**
Music Centre
147,039
Schools Programmes
148,443
Projects
9,858
30th Birthday Celebrations
6,298
**Total**
311,638
**NET INCOME/(EXPENDITURE)**
(20,677)
**Reconciliation of funds**
Total funds brought forward
22,224
**Total funds carried forward**
1,547|Restricted
fund
£
9,850
-
-
-
-
-
9,850
-
-
-
-
-
9,850
-
9,850|Total
funds
£
19,343
124,441
143,421
6,550
288
6,768
300,811
147,039
148,443
9,858
6,298
311,638
(10,827)
22,224
11,397| |---|---|---| continued... Page 13 ## **The Dacapo Music Foundation Limited** ## **Notes to the Financial Statements - continued** ## **for the Year Ended 31 August 2023** ## **9. Tangible fixed assets** |**9.**|**Tangible fixed assets**|| |---|---|---| |||Fixtures| |||and| |||fittings| |||£| ||**Cost**|| ||At 1 September 2022|**60,721**| ||Additions|**2,642**| ||Disposals|**(395)**| ||At 31 August 2023|**62,968**| ||**Depreciation**|| ||At 1 September 2022|**43,749**| ||Charge for year|**4,328**| ||Eliminated on disposal|**(349)**| ||At 31 August 2023|**47,728**| ||**Net book value**|| ||At 31 August 2023|**15,240**| ||At 31 August 2022|16,972| |**10.**|**Fixed asset investments**|| |||Shares in| |||group| |||undertakings| |||£| ||**Market value**|| ||At 1 September 2022 and 31 August 2023|**5**| ||**Net book value**|| ||At 31 August 2023|**5**| ||At 31 August 2022|5| ||There were no investment assets outside the UK.|| continued... Page 14 ## **The Dacapo Music Foundation Limited** ## **Notes to the Financial Statements - continued for the Year Ended 31 August 2023** ## **11. Debtors: amounts falling due within one year** |**11.**|**Debtors: amounts falling due within one year**||| |---|---|---|---| |||**31.8.23**|31.8.22| |||**£**|£| ||Trade debtors|**9,058**|10,768| ||Other debtors|**2,060**|4,113| ||Prepayments and accrued income|**1,516**|3,806| |||**12,634**|18,687| |**12.**|**Creditors: amounts falling due within one year**||| |||**31.8.23**|31.8.22| |||**£**|£| ||Bank loans and overdrafts (see note 14)|**5,000**|5,000| ||Trade creditors|**14,560**|11,449| ||Social security and other taxes|**1,048**|376| ||Other creditors|**4,307**|2,483| ||Accrued expenses|**7,186**|6,711| |||**32,101**|26,019| |**13.**|**Creditors: amounts falling due after more than one year**||| |||**31.8.23**|31.8.22| |||**£**|£| ||Bank loans (see note 14)|**9,078**|13,750| |**14.**|**Loans**||| ||An analysis of the maturity of loans is given below:||| |||**31.8.23**|31.8.22| |||**£**|£| ||Amounts falling due within one year on demand:||| ||Bank loans|**5,000**|5,000| ||Amounts falling between one and two years:||| ||Bank loans - 1-2 years|**9,078**|13,750| continued... Page 15 ## **The Dacapo Music Foundation Limited** ## **Notes to the Financial Statements - continued** ## **for the Year Ended 31 August 2023** ## **15. Movement in funds** |**Unrestricted funds**
General fund
**Restricted funds**
Restricted Fund
**TOTAL FUNDS**
Net movement in funds, included in the above are as follows:
**Unrestricted funds**
General fund
**Restricted funds**
Restricted Fund
**TOTAL FUNDS**
**Comparatives for movement in funds**
**Unrestricted funds**
General fund
**Restricted funds**
Restricted Fund
**TOTAL FUNDS**|At 1.9.22
£
**1,547**
**9,850**
**11,397**
Incoming
resources
£
**356,602**
**3,000**
**359,602**
At 1.9.21
£
22,224
-
22,224|Net
movement
At
in funds
31.8.23
£
£
**622**
**2,169**
**(3,715)**
**6,135**
**(3,093)**
**8,304**
Resources
Movement
expended
in funds
£
£
**(355,980)**
**622**
**(6,715)**
**(3,715)**
**(362,695)**
**(3,093)**
Net
movement
At
in funds
31.8.22
£
£
(20,677)
1,547
9,850
9,850
(10,827)
11,397| |---|---|---| continued... Page 16 ## **The Dacapo Music Foundation Limited** ## **Notes to the Financial Statements - continued for the Year Ended 31 August 2023** ## **15. Movement in funds - continued** Comparative net movement in funds, included in the above are as follows: |Incoming
resources
£
**Unrestricted funds**
General fund
290,961
**Restricted funds**
Restricted Fund
9,850
**TOTAL FUNDS**
300,811
A current year 12 months and prior year 12 months combined position is as follows:
At 1.9.21
£
**Unrestricted funds**
General fund
22,224
**Restricted funds**
Restricted Fund
-
**TOTAL FUNDS**
22,224|Resources
Movement
expended
in funds
£
£
(311,638)
(20,677)
-
9,850
(311,638)
(10,827)
Net
movement
At
in funds
31.8.23
£
£
(20,055)
2,169
6,135
6,135
(13,920)
8,304| |---|---| A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows: |**Unrestricted funds**
General fund
**Restricted funds**
Restricted Fund
**TOTAL FUNDS**|Incoming
resources
£
647,563
12,850
660,413|Resources
Movement
expended
in funds
£
£
(667,618)
(20,055)
(6,715)
6,135
(674,333)
(13,920)| |---|---|---| continued... Page 17 **The Dacapo Music Foundation Limited** ## **Notes to the Financial Statements - continued** ## **for the Year Ended 31 August 2023** ## **15. Movement in funds - continued** Funds held at the balance sheet date are analysed between unrestricted and restricted funds as detailed below. Unrestricted funds - this fund comprises general unrestricted funds available for use as determined by the trustees in furtherance of the charity's objectives. Restricted funds - this fund includes a grant received from the National Lottery Community Fund which was awarded to the charity to fund our 'AMP' Project, 'An Afternoon of Music and Puppets' in 2022. It also comprises of a donation received in the current year of £3,000, to further fund the same project. ## **16. Related party disclosures** The sum of £2,060 (2022 £4,113) was owed to the charity by Dacapo Primary Music Limited, a company in which the charity holds shares and in which both M Groves and J Cutler have an interest by way of being directors and shareholders. Page 18 ## **The Dacapo Music Foundation Limited** |**Income and endowments**
**Donations and legacies**
Donations
Grants
**Charitable activities**
Income received
**Other income**
Gain on sale of tangible fixed assets
**Total incoming resources**
**Expenditure**
**Charitable activities**
Direct costs
**Support costs**
**Management**
Wages
Pensions
Advertising
Staff training
Temporary staff costs
Meetings and refreshments
Travel and subsistence
Motor expenses
Rent
Telephone
Printing and stationery
Postage
Subscriptions
Insurance
Repairs and renewals
Carried forward|**Detailed Statement of Financial Activities**
**for the Year Ended 31 August 2023**
31.8.23
31.8.22
£
£
**139**
6,993
**3,000**
12,350
**3,139**
19,343
**356,225**
281,468
**238**
-
**359,602**
300,811
**272,358**
229,966
**40,190**
31,279
**1,491**
1,238
**525**
-
**524**
356
**-**
4,605
**2,844**
1,223
**685**
110
**2,551**
2,305
**9,857**
4,623
**2,359**
2,638
**1,631**
1,233
**235**
82
**739**
523
**1,708**
1,638
**2,740**
1,794
**68,079**
53,647|**Detailed Statement of Financial Activities**
**for the Year Ended 31 August 2023**
31.8.23
31.8.22
£
£
**139**
6,993
**3,000**
12,350
**3,139**
19,343
**356,225**
281,468
**238**
-
**359,602**
300,811
**272,358**
229,966
**40,190**
31,279
**1,491**
1,238
**525**
-
**524**
356
**-**
4,605
**2,844**
1,223
**685**
110
**2,551**
2,305
**9,857**
4,623
**2,359**
2,638
**1,631**
1,233
**235**
82
**739**
523
**1,708**
1,638
**2,740**
1,794
**68,079**
53,647| |---|---|---| |||| |||19,343
281,468
-| |||300,811
229,966
31,279
1,238
-
356
4,605
1,223
110
2,305
4,623
2,638
1,233
82
523
1,638
1,794
53,647| This page does not form part of the statutory financial statements Page 19 ## **The Dacapo Music Foundation Limited** ## **Detailed Statement of Financial Activities for the Year Ended 31 August 2023** ||31.8.23|31.8.22| |---|---|---| ||£|£| |**Management**||| |Brought forward|**68,079**|53,647| |Sundries|**2,243**|2,204| |Bank charges|**1,025**|1,038| |Dep'n of fixtures, fittings and office equipment|**4,327**|5,681| |Loss on sale of tangible fixed assets|**-**|72| |Bank loan interest|**652**|325| ||**76,326**|62,967| |**Governance costs**||| |Accountancy fees|**6,306**|4,189| |Legal fees|**213**|313| |Advertising and publicity|**6,992**|4,838| |Consultancy|**500**|-| |Exceptional item - loan written off|**-**|9,365| ||**14,011**|18,705| |Total resources expended|**362,695**|311,638| |**Net expenditure**|**(3,093)**|(10,827)| This page does not form part of the statutory financial statements Page 20 **REGISTERED COMPANY NUMBER: 06698862 (England and Wales) REGISTERED CHARITY NUMBER: 1136051** ## **Report of the Trustees and** ## **Unaudited Financial Statements** **for the Year Ended 31 August 2023** ## **for** **The Dacapo Music Foundation Limited** Warr & Co Limited Chartered Accountants Mynshull House 78 Churchgate Stockport Cheshire SK1 1YJ **The Dacapo Music Foundation Limited** ## **Contents of the Financial Statements for the Year Ended 31 August 2023** |||**Page**|| |---|---|---|---| |**Reference and administrative details**||1|| |**Report of the trustees**|2|to|4| |**Independent examiner's report**||5|| |**Statement of financial activities**||6|| |**Balance sheet**|7|to|8| |**Notes to the financial statements**|9|to|18| **The Dacapo Music Foundation Limited** ## **Reference and Administrative Details for the Year Ended 31 August 2023** |**Trustees**|Ms M A Healy| |---|---| ||S E Kenzie (resigned 19.12.22)| ||J P Mcclelland| ||Ms R Muenger| ||Ms E N Norman| ||S Sreedher (appointed 4.12.22)| ||D Spreadbury (appointed 11.1.23)| ||G Colella (appointed 1.4.23)| ||Ms H Ding (appointed 12.10.23)| |**Registered office**|Wren Academy| ||Hilton Avenue| ||London| ||N12 9HB| |**Registered company number**|06698862 (England and Wales)| |**Registered charity number**|1136051| |**Independent examiner**|Warr & Co Limited| ||Chartered Accountants| ||Mynshull House| ||78 Churchgate| ||Stockport| ||Cheshire| ||SK1 1YJ| |**Bankers**|National Westminster Bank PLC| ||120 High Street| ||Barnet| ||Hertfordshire| ||EN5 5FF| Page 1 **The Dacapo Music Foundation Limited (Registered number: 06698862)** ## **Report of the Trustees for the Year Ended 31 August 2023** The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 August 2023. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019). ## **Objectives and activities** ## **Objectives and aims** 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** 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. ## **Achievement and performance** ## **Charitable activities** It has been another successful year for DaCapo in its delivery of a first class and innovative musical education both at our Saturday Centre and within 10 London primary schools. Over the year, DaCapo's educational offering has again been enriched by its partnerships with other organisations, notably the Fantasia Orchestra and Proms at St Jude's whose annual festival in June each year is a musical highlight for our primary school students. During the year we trialled a new project with the Little Angel Theatre which delivers a low cost, multi disciplinary project targeting families on low incomes. At their quarterly board meetings, the trustees consider a number of metrics to monitor the performance of the charity including numbers of new families attending the Saturday centre (and departing), any changes to the number of primary schools supported by DaCapo, details of grant applications made and their success and project work development supporting the charity's social impact strategy. DaCapo has also initiated an annual survey to elicit feedback from its key stakeholders (families, schools and teachers) on all aspects of its operation. During the course of the year, the Trustees noted DaCapo's success in teaching children and adults from 102 families at the Saturday Centre (2022 135) and supporting 9 state primary schools in North London (2022: 10 ]. This primary school work along with the puppet theatre project enable DaCapo to provide its unique holistic music education programme to a broader audience. ## **Financial review** ## **Financial position** Overall, costs exceeded income resulting in a deficit of £3,092 (2022 £10,827). Reserves carried forward to next financial year stand at £8,304 (2022 £11,397). Page 2 **The Dacapo Music Foundation Limited (Registered number: 06698862)** ## **Report of the Trustees for the Year Ended 31 August 2023** ## **Financial review** ## **Reserves policy** The reserves policy of The DaCapo Music Foundation has been reviewed by the Board of Trustees. It is the intention of the directors to work towards an increased level of unrestricted reserves, in the medium term, to a level of £45,000 considered to be sufficient for approximately half a term of usual expenditure, although it is noted that current year costs would indicate a level of £60,500 would be required. Current reserves fall below the level determined and the trustees are acutely aware of the need to improve profitability. They are committed to supporting the CEO in working towards increasing income levels by focusing on increased grant applications. Since the year end, DaCapo has engaged the services of Vantage Fundraising to support this activity. ## **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 charitable company to be able to continue as a going concern. ## **Covid -19** The charitable company benefitted from the Government coronavirus support by arranging a Bounceback Loan to assist with working capital requirements during this difficult period. This has been partially drawn down. ## **Future plans** The DaCapo Board remains focussed on the continued provision of a first level standard of care and support to our Saturday families and primary schools whilst developing programmes which will extend access to a DaCapo musical education to less well-off families. The project with the Little Angel Theatre Company is an example of this. ## **Structure, governance and management** ## **Governing document** 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 was registered as a charity, number 1136051, with effect from 21 May 2010 under its Memorandum and Articles of Association. Dacapo 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 Foundation during the period under review. ## **Recruitment and appointment of new trustees** Prospective trustees are recommended by existing trustees or the Foundation's senior management to join the board of trustees or by open advertisement. In selecting new trustees, the Board is cognisant of the importance of diversity in its composition as well as ensuring that there is a relevant range of skillsets and knowledge represented on the Board. ## **Organisational structure** The trustees consider the trustees and the senior management team comprise the key management personnel of the Foundation in charge of directing and controlling, running and operating the charity on a day to day basis. All trustees and key personnel give their time freely. The senior management team include: Principal Jane Cutler Chief Executive Officer Michelle Groves Page 3 **The Dacapo Music Foundation Limited (Registered number: 06698862)** ## **Report of the Trustees for the Year Ended 31 August 2023** ## **Structure, governance and management** ## **Risk management** The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error. The trustees have assessed the major risks to which Dacapo 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 Dacapo faces. As at 31 August 2023 the trustees have not identified any new operational risks arising from such matters to which Dacapo may be exposed. Approved by order of the board of trustees on 22 May 2024 and signed on its behalf by: J P Mcclelland - Trustee Page 4 ## **Independent Examiner's Report to the Trustees of The Dacapo Music Foundation Limited** ## **Independent examiner's report to the trustees of The Dacapo Music Foundation Limited ('the Company')** I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 August 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** Since your charity's gross income exceeded £250,000 your examiner must be a member of a listed body. I can confirm that I am qualified to undertake the examination because I am a member of the Institute of Chartered Accountants in England and Wales, which is one of the listed bodies. 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 (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. Nicola Joyce ACA, FCCA The Institute of Chartered Accountants in England and Wales Warr & Co Limited Chartered Accountants Mynshull House 78 Churchgate Stockport Cheshire SK1 1YJ 28 May 2024 Page 5 ## **The Dacapo Music Foundation Limited** ## **Statement of Financial Activities (Incorporating an Income and Expenditure Account) for the Year Ended 31 August 2023** ||||||**31.8.23**|31.8.22| |---|---|---|---|---|---|---| |||Unrestricted|Restricted||**Total**|Total| |||fund|fund||**funds**|funds| ||Notes|£|£||**£**|£| |**Income and endowments from**||||||| |Donations and legacies||**139**|**3,000**||**3,139**|19,343| |**Charitable activities**||||||| |Music Centre||**148,112**||**-**|**148,112**|124,441| |Schools Programmes||**167,554**||**-**|**167,554**|143,421| |Projects||**40,211**||**-**|**40,211**|6,550| |Accreditation||**348**||**-**|**348**|288| |30th Birthday Celebrations||**-**||**-**|**-**|6,768| |Other income||**238**||**-**|**238**|-| |**Total**||**356,602**|**3,000**||**359,602**|300,811| |**Expenditure on**||||||| |**Charitable activities**|3|||||| |Music Centre||**167,670**||**-**|**167,670**|147,039| |Schools Programmes||**172,292**||**-**|**172,292**|148,443| |Projects||**16,018**|**6,715**||**22,733**|9,858| |30th Birthday Celebrations||**-**||**-**|**-**|6,298| |**Total**||**355,980**|**6,715**||**362,695**|311,638| |**NET INCOME/(EXPENDITURE)**||**622**|**(3,715)**||**(3,093)**|(10,827)| |**Reconciliation of funds**||||||| |Total funds brought forward||**1,547**|**9,850**||**11,397**|22,224| |**Total funds carried forward**||**2,169**|**6,135**||**8,304**|11,397| The notes form part of these financial statements Page 6 ## **The Dacapo Music Foundation Limited (Registered number: 06698862)** ## **Balance Sheet** ## **31 August 2023** |||||**31.8.23**|31.8.22| |---|---|---|---|---|---| |||Unrestricted|Restricted|**Total**|Total| |||fund|fund|**funds**|funds| ||Notes|£|£|**£**|£| |**Fixed assets**|||||| |Tangible assets|9|**15,240**|**-**|**15,240**|16,972| |Investments|10|**5**|**-**|**5**|5| |||**15,245**|**-**|**15,245**|16,977| |**Current assets**|||||| |Debtors|11|**12,634**|**-**|**12,634**|18,687| |Cash at bank and in hand||**15,469**|**6,135**|**21,604**|15,502| |||**28,103**|**6,135**|**34,238**|34,189| |**Creditors**|||||| |Amounts falling due within one year|12|**(32,101)**|**-**|**(32,101)**|(26,019)| |**Net current assets**||**(3,998)**|**6,135**|**2,137**|8,170| |**Total assets less current liabilities**||**11,247**|**6,135**|**17,382**|25,147| |**Creditors**|||||| |Amounts falling due after more than one year|13|**(9,078)**|**-**|**(9,078)**|(13,750)| |**NET ASSETS**||**2,169**|**6,135**|**8,304**|11,397| |**Funds**|15||||| |Unrestricted funds||||**2,169**|1,547| |Restricted funds||||**6,135**|9,850| |**Total funds**||||**8,304**|11,397| The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2023. The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2023 in accordance with Section 476 of the Companies Act 2006. The notes form part of these financial statements continued... Page 7 **The Dacapo Music Foundation Limited (Registered number: 06698862)** ## **Balance Sheet - continued** ## **31 August 2023** The trustees acknowledge their responsibilities for - (a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and - (b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company. These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime. The financial statements were approved by the Board of Trustees and authorised for issue on 22 May 2024 and were signed on its behalf by: J P Mcclelland - Trustee The notes form part of these financial statements Page 8 **The Dacapo Music Foundation Limited** ## **Notes to the Financial Statements** ## **for the Year Ended 31 August 2023** ## **1. Statutory information** The Dacapo Music Foundation Limited is a private charitable company, limited by guarantee and registered in England and Wales. The address of the registered office is shown on the charity information on page one of these financial statements. The nature of the charity's operations are detailed in the Trustees Report. ## **2. Accounting policies** ## **Basis of preparing the financial statements** The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention, with the exception of investments which are included at market value. The financial statements are presented in sterling, which is the functional currency of the charitable company. All amounts stated are rounded to the nearest £1. ## **Critical accounting judgements and key sources of estimation uncertainty** Accounting estimates and judgements are continually evaluated and are based on historical experience and In the application of the company's accounting policies, the trustees and directors are required to make judgements, estimates and assumptions about carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods. Tangible fixed assets are stated at cost less accumulated depreciation and accumulated impairment losses. Management have used their expectation of the estimated useful lives of each category of assets in order to ensure the appropriate provision is made for depreciation. Details of the estimated useful lives are noted in the accounting policies and the depreciation provision is stated in the notes to the accounts. ## **Income** All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably. Donations are recognised when the charity has received written notified of the amounts and the settlement date. If conditions are attached to the donation that require a level of performance before entitlement can be obtained then income is deferred until those conditions have been met or fulfilment of those conditions is within the control of the charity and it is probable they will be fulfilled. The charity benefits from the involvement and support of volunteers. The economic contribution of this support is not recognised in the accounts. continued... Page 9 **The Dacapo Music Foundation Limited** ## **Notes to the Financial Statements - continued** ## **for the Year Ended 31 August 2023** ## **2. Accounting policies - continued** ## **Income** Fixed asset gifts in kind are recognised when receivable and re included at fair value. Income from charitable activities includes income 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. ## **Expenditure** Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources. Expenditure on charitable activities comprises those costs incurred by the charity in the delivery of its activities and services to beneficiaries. It includes both costs allocated directly to such activities and those costs of an indirect nature necessary to support them. Support costs are those that assist the work of the charity but do not directly represent charitable activities and include office costs, governance costs and 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 the notes to the accounts. ## **Tangible fixed assets** Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life. Fixtures and fittings 25% reducing balance ## **Taxation** The charity is exempt from corporation tax on its charitable activities. ## **Fund accounting** Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees. Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes. Further explanation of the nature and purpose of each fund is included in the notes to the financial statements. continued... Page 10 **The Dacapo Music Foundation Limited** ## **Notes to the Financial Statements - continued for the Year Ended 31 August 2023** ## **2. Accounting policies - continued** ## **Pension costs and other post-retirement benefits** The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate. ## **Financial instruments** The charity has financial assets and financial liabilities of a kind that qualify as basic financial instruments. These are initially recognised at transaction value and subsequently measured at their settlement value. ## **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 a period of 12 months from the date of approval of these financial statements. The budgeted income and expenditure is sufficient with the level of reserves, and the support of a bank overdraft facility that is not currently utilised, for the charity to be able to continue as a going concern. ## **3. Charitable activities costs** |Support
Direct
costs (see
Costs
note 4)
£
£
Music Centre
**125,885**
**41,785**
Schools Programmes
**129,376**
**42,916**
Projects
**17,097**
**5,636**
**272,358**
**90,337**
**Support costs**
Governance
Management
costs
£
£
Music Centre
**35,303**
**6,482**
Schools Programmes
**36,260**
**6,656**
Projects
**4,763**
**873**
**76,326**
**14,011**|Totals
£
**167,670**
**172,292**
**22,733**|Totals
£
**167,670**
**172,292**
**22,733**| |---|---|---| ||**362,695**|| |||Totals
£
**41,785**
**42,916**
**5,636**| |||**90,337**| ## **4. Support costs** continued... Page 11 ## **The Dacapo Music Foundation Limited** ## **Notes to the Financial Statements - continued** ## **for the Year Ended 31 August 2023** ## **5. Net income/(expenditure)** Net income/(expenditure) is stated after charging/(crediting): ||**31.8.23**|31.8.22| |---|---|---| ||**£**|£| |Depreciation - owned assets|**4,328**|5,681| |Surplus/(deficit) on disposal of fixed assets|**(238)**|72| |Remuneration receivable by the charity's independent examiner in respect of:||| |Examination of the accounts|**1,140**|1,140| |Other services provided|**3,060**|1,560| ## **6. Trustees' remuneration and benefits** There were no trustees' remuneration or other benefits for the year ended 31 August 2023 nor for the year ended 31 August 2022. ## **Trustees' expenses** There were no trustees' expenses paid for the year ended 31 August 2023 nor for the year ended 31 August 2022. ## **7. Staff costs** |**Staff costs**||| |---|---|---| ||**31.8.23**|31.8.22| ||**£**|£| |Wages and salaries|**40,190**|31,279| |Other pension costs|**1,491**|1,238| ||**41,681**|32,517| |The average monthly number of employees during the year was as follows:||| ||**31.8.23**|31.8.22| |Administration of the charity|**2**|3| No employees received emoluments in excess of £60,000. continued... Page 12 ## **The Dacapo Music Foundation Limited** ## **Notes to the Financial Statements - continued for the Year Ended 31 August 2023** ## **8. Comparatives for the statement of financial activities** |Unrestricted
fund
£
**Income and endowments from**
Donations and legacies
9,493
**Charitable activities**
Music Centre
124,441
Schools Programmes
143,421
Projects
6,550
Accreditation
288
30th Birthday Celebrations
6,768
**Total**
290,961
**Expenditure on**
**Charitable activities**
Music Centre
147,039
Schools Programmes
148,443
Projects
9,858
30th Birthday Celebrations
6,298
**Total**
311,638
**NET INCOME/(EXPENDITURE)**
(20,677)
**Reconciliation of funds**
Total funds brought forward
22,224
**Total funds carried forward**
1,547|Restricted
fund
£
9,850
-
-
-
-
-
9,850
-
-
-
-
-
9,850
-
9,850|Total
funds
£
19,343
124,441
143,421
6,550
288
6,768
300,811
147,039
148,443
9,858
6,298
311,638
(10,827)
22,224
11,397| |---|---|---| continued... Page 13 ## **The Dacapo Music Foundation Limited** ## **Notes to the Financial Statements - continued** ## **for the Year Ended 31 August 2023** ## **9. Tangible fixed assets** |**9.**|**Tangible fixed assets**|| |---|---|---| |||Fixtures| |||and| |||fittings| |||£| ||**Cost**|| ||At 1 September 2022|**60,721**| ||Additions|**2,642**| ||Disposals|**(395)**| ||At 31 August 2023|**62,968**| ||**Depreciation**|| ||At 1 September 2022|**43,749**| ||Charge for year|**4,328**| ||Eliminated on disposal|**(349)**| ||At 31 August 2023|**47,728**| ||**Net book value**|| ||At 31 August 2023|**15,240**| ||At 31 August 2022|16,972| |**10.**|**Fixed asset investments**|| |||Shares in| |||group| |||undertakings| |||£| ||**Market value**|| ||At 1 September 2022 and 31 August 2023|**5**| ||**Net book value**|| ||At 31 August 2023|**5**| ||At 31 August 2022|5| ||There were no investment assets outside the UK.|| continued... Page 14 ## **The Dacapo Music Foundation Limited** ## **Notes to the Financial Statements - continued for the Year Ended 31 August 2023** ## **11. Debtors: amounts falling due within one year** |**11.**|**Debtors: amounts falling due within one year**||| |---|---|---|---| |||**31.8.23**|31.8.22| |||**£**|£| ||Trade debtors|**9,058**|10,768| ||Other debtors|**2,060**|4,113| ||Prepayments and accrued income|**1,516**|3,806| |||**12,634**|18,687| |**12.**|**Creditors: amounts falling due within one year**||| |||**31.8.23**|31.8.22| |||**£**|£| ||Bank loans and overdrafts (see note 14)|**5,000**|5,000| ||Trade creditors|**14,560**|11,449| ||Social security and other taxes|**1,048**|376| ||Other creditors|**4,307**|2,483| ||Accrued expenses|**7,186**|6,711| |||**32,101**|26,019| |**13.**|**Creditors: amounts falling due after more than one year**||| |||**31.8.23**|31.8.22| |||**£**|£| ||Bank loans (see note 14)|**9,078**|13,750| |**14.**|**Loans**||| ||An analysis of the maturity of loans is given below:||| |||**31.8.23**|31.8.22| |||**£**|£| ||Amounts falling due within one year on demand:||| ||Bank loans|**5,000**|5,000| ||Amounts falling between one and two years:||| ||Bank loans - 1-2 years|**9,078**|13,750| continued... Page 15 ## **The Dacapo Music Foundation Limited** ## **Notes to the Financial Statements - continued** ## **for the Year Ended 31 August 2023** ## **15. Movement in funds** |**Unrestricted funds**
General fund
**Restricted funds**
Restricted Fund
**TOTAL FUNDS**
Net movement in funds, included in the above are as follows:
**Unrestricted funds**
General fund
**Restricted funds**
Restricted Fund
**TOTAL FUNDS**
**Comparatives for movement in funds**
**Unrestricted funds**
General fund
**Restricted funds**
Restricted Fund
**TOTAL FUNDS**|At 1.9.22
£
**1,547**
**9,850**
**11,397**
Incoming
resources
£
**356,602**
**3,000**
**359,602**
At 1.9.21
£
22,224
-
22,224|Net
movement
At
in funds
31.8.23
£
£
**622**
**2,169**
**(3,715)**
**6,135**
**(3,093)**
**8,304**
Resources
Movement
expended
in funds
£
£
**(355,980)**
**622**
**(6,715)**
**(3,715)**
**(362,695)**
**(3,093)**
Net
movement
At
in funds
31.8.22
£
£
(20,677)
1,547
9,850
9,850
(10,827)
11,397| |---|---|---| continued... Page 16 ## **The Dacapo Music Foundation Limited** ## **Notes to the Financial Statements - continued for the Year Ended 31 August 2023** ## **15. Movement in funds - continued** Comparative net movement in funds, included in the above are as follows: |Incoming
resources
£
**Unrestricted funds**
General fund
290,961
**Restricted funds**
Restricted Fund
9,850
**TOTAL FUNDS**
300,811
A current year 12 months and prior year 12 months combined position is as follows:
At 1.9.21
£
**Unrestricted funds**
General fund
22,224
**Restricted funds**
Restricted Fund
-
**TOTAL FUNDS**
22,224|Resources
Movement
expended
in funds
£
£
(311,638)
(20,677)
-
9,850
(311,638)
(10,827)
Net
movement
At
in funds
31.8.23
£
£
(20,055)
2,169
6,135
6,135
(13,920)
8,304| |---|---| A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows: |**Unrestricted funds**
General fund
**Restricted funds**
Restricted Fund
**TOTAL FUNDS**|Incoming
resources
£
647,563
12,850
660,413|Resources
Movement
expended
in funds
£
£
(667,618)
(20,055)
(6,715)
6,135
(674,333)
(13,920)| |---|---|---| continued... Page 17 **The Dacapo Music Foundation Limited** ## **Notes to the Financial Statements - continued** ## **for the Year Ended 31 August 2023** ## **15. Movement in funds - continued** Funds held at the balance sheet date are analysed between unrestricted and restricted funds as detailed below. Unrestricted funds - this fund comprises general unrestricted funds available for use as determined by the trustees in furtherance of the charity's objectives. Restricted funds - this fund includes a grant received from the National Lottery Community Fund which was awarded to the charity to fund our 'AMP' Project, 'An Afternoon of Music and Puppets' in 2022. It also comprises of a donation received in the current year of £3,000, to further fund the same project. ## **16. Related party disclosures** The sum of £2,060 (2022 £4,113) was owed to the charity by Dacapo Primary Music Limited, a company in which the charity holds shares and in which both M Groves and J Cutler have an interest by way of being directors and shareholders. Page 18 (T266T) **Company Tax Return CT600 (2024) Version 3** **for accounting periods starting on or after 1 April 2015** ## **Your Company Tax Return** If we send the company a ‘Notice’ to deliver a Company Tax Return it has to comply by the filing date or we charge a penalty, even if there is no tax to pay. A return includes a Company Tax Return form, any supplementary pages, accounts, computations and any relevant information. The CT600 Guide tells you how the return must be formatted and delivered. It contains general information you may need to deliver your return, links to more detailed advice and box-by-box guidance for this form and the supplementary pages. The forms in the CT600 series set out the information we need and provide a standard format for calculations. ## Company information ||||||||||||||| |---|---|---|---|---|---|---|---|---|---|---|---|---|---| |**1 **|**Company name**|The Dacapo Music Foundation Limited|||||||||||| ||||||||||||||| |**2 **|**Company registration number**||||0|6|6|9|8|8|6|2|| ||||||||||||||| |**3 **|**Tax reference**||||||||||||| ||||||||||||||| |**4 **|**Type of company**|||||||||||0|| ||||||||||||||| ## Northern Ireland (NI) **Put an ‘X’ in the appropriate boxes below 5 NI trading activity 6 SME 7 NI employer 8 Special circumstances** ## About this return |||**This is the tax return for the company named above, for the period below**|**This is the tax return for the company named above, for the period below**||||||||||||| |---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---| |**30 **||**from**DD MM YYYY||**35**||**to** DD MM YYYY|||||||||| |||0
1
0
9
2
0
2
2|||3|1||0|8||2|0|2|3|| ||**Put an ‘X’ in the appropriate boxes below**||||||||||||||| |**40**||**A repayment is due for this return period**|||||||||||||| |**45 **||**Claim or relief affecting an earlier**|**period**||||||||||||| |**50**||**Making more than one return for this company now**|||||||||||||| |**55**||**This return contains estimated figures**|||||||||||||| |**60**||**Company part of a group that is not small**|||||||||||||| |**65**||**Notice of disclosable avoidance schemes**|||||||||||||| ||**Transfer pricing**||||||||||||||| |**70**||**Compensating adjustment claimed**|||||||||||||| |**75 **||**Company qualifies for SME exemption**|||||||||||||| ������������������������������������������� ������ (T266T) About this return – continued ## **Accounts and computations** - **80 I attach accounts and computations for the period to which this return relates** - X - **85 I attach accounts and computations for a different period 90 If you’re not attaching the accounts and computations, explain why Supplementary pages enclosed** - **95 Loans and arrangements to participators by close companies** – form CT600A - **100 Controlled foreign companies, foreign permanent establishment exemptions, hybrid and other mismatches** – form CT600B **105 Group and consortium** – form CT600C **110 Insurance** – form CT600D **115 Charities and Community Amateur Sports Clubs (CASCs)** – form CT600E X - **120 Tonnage tax** – form CT600F - **125 Northern Ireland** – form CT600G **130 Cross-border royalties** – form CT600H - **135 Supplementary charge in respect of ring fence trades** – form CT600I - **140 Disclosure of Tax Avoidance Schemes** – form CT600J - **141 Restitution tax** – form CT600K - **142 Research and Development** – form CT600L - **143 Freeports and Investment Zones** – form CT600M **144 Residential Property Developer Tax (RPDT)** – form CT600N ## **Tax calculation** – Turnover |||||||||||||||||||||||||||| |---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---| |**145 **|**Total turnover from trade**|£|||||||||||||||||||||•|0|0|| |**150**|**Banks, building societies, insurance**|**companies and**|||||**other financial**||||**concerns**|||||||||||||||| ||_–_ put an ‘X’ in this box if you do not have a recognised turnover and have not made an entry in box 145|||||||||||||||||||||||||| |Income||||||||||||||||||||||||||| |||||||||||||||||||||||||||| |**155 **|**Trading profits**|||||||||£|||||||||||||•|0|0|| |||||||||||||||||||||||||||| |**160 **|**Trading losses brought forward set**|**against**|||**trading**||**profits**|||£|||||||||||||•|0|0|| |||||||||||||||||||||||||||| |**165 **|**Net trading profits –**box 155 minus|box 160||||||||£|||||||||||||•|0|0|| |||||||||||||||||||||||||||| |**170 **|**Bank, building society or other interest, and profits**|||||||||£|||||||||||||•|0|0|| ||**from non-trading loan relationships**|||||||||||||||||||||||||| **172 Put an ‘X’ in box 172 if the figure in box 170 is net of carrying back a deficit from a later accounting period** ������������������������������������������� ������ (T266T) Income – continued |**175 Annual payments not otherwise charged to Corporation Tax**
**and from which Income Tax has not been deducted**
£
0
0
•
**180 Non-exempt dividends or distributions from**
**non-UK resident companies**
£
0
0
•
**185 Income from which Income Tax has been deducted**
£
0
0
•
**190 Income from a property business**
£
0
0
•
**195 Non-trading gains on intangible fixed assets**
£
0
0
•
**200 Tonnage tax profits**
£
0
0
•
**205 Income not falling under any other heading**
£
0
0
•|0|0| |---|---|---| ||0|0| ## Chargeable gains ||||||||||||||||||| |---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---| |**210 **|**Gross chargeable gains**|£||||||||||||•|0|0|| ||||||||||||||||||| |**215 **|**Allowable losses including losses brought forward**|£||||||||||||•|0|0|| ||||||||||||||||||| |**220 **|**Net chargeable gains**_–_box 210 minus box 215|£||||||||||||•|0|0|| ||||||||||||||||||| ## Profits before deductions and reliefs |**225 Losses brought forward against certain investment income**
£
0
0
•
**230 Non-trade deficits on loan relationships (including interest)**
£
0
0
•
**and derivative contracts (financial instruments)**
**brought forward set against non-trading profits**
**235 Profits before other deductions and reliefs –** net sum of
b 165 t 205 d 220 i f b 225 d 230
£
0
0
•|0|0| |---|---|---| ||0|0| ## Deductions and reliefs |**240 Losses on unquoted shares**
£
0
0
•
**245 Management expenses**
£
0
0
•
**250 UK property business losses for this or previous**
**accounting period**
£
0
0
•
**255 Capital allowances for the purposes of management**
**of the business**
£
0
0
•
**260 Non-trade deficits for this accounting period from loan**
**relationships and derivative contracts (financial instruments)**
£
0
0
•|**240 Losses on unquoted shares**
£
0
0
•
**245 Management expenses**
£
0
0
•
**250 UK property business losses for this or previous**
**accounting period**
£
0
0
•
**255 Capital allowances for the purposes of management**
**of the business**
£
0
0
•
**260 Non-trade deficits for this accounting period from loan**
**relationships and derivative contracts (financial instruments)**
£
0
0
•|**240 Losses on unquoted shares**
£
0
0
•
**245 Management expenses**
£
0
0
•
**250 UK property business losses for this or previous**
**accounting period**
£
0
0
•
**255 Capital allowances for the purposes of management**
**of the business**
£
0
0
•
**260 Non-trade deficits for this accounting period from loan**
**relationships and derivative contracts (financial instruments)**
£
0
0
•| |---|---|---| |**240 Losses on unquoted shares**
£
0
0
•
**245 Management expenses**
£
0
0
•
**250 UK property business losses for this or previous**
**accounting period**
£
0
0
•
**255 Capital allowances for the purposes of management**
**of the business**
£
0
0
•
**260 Non-trade deficits for this accounting period from loan**
**relationships and derivative contracts (financial instruments)**
£
0
0
•|0|0| ������������������������������������������� ������ (T266T) Deductions and Reliefs – continued |**263 Carried forward non-trade deficits from loan relationships**
**and derivative contracts (financial instruments)**
£
0
0
•
**265 Non-trading losses on intangible fixed assets**
£
0
0
•
**275 Total trading losses of this or a later accounting period**
£
0
0
•
**280 Put an ‘X’ in box 280 if amounts carried back from later**
**accounting periods are included in box 275**
**285 Trading losses carried forward and claimed against total profits**£
0
0
•
**290 Non-trade capital allowances**
£
0
0
•
**295 Total of deductions and reliefs**
**–** total of boxes 240 to 275, 285 and 290
£
0
0
•
**300 Profits before qualifying donations and group relief**
**–** box 235 minus box 295
£
0
0
•
**305 Qualifying donations**
£
0
0
•
**310 Group relief**
£
0
0
•
**312 Group relief for carried forward losses**
£
0
0
•
**315 Profits chargeable to Corporation Tax**
**–** box 300 minus boxes 305, 310 and 312
£
0
0
•
**320 Ring fence profits included**
£
0
0
•
**325 Northern Ireland profits included**
£
0
0
•
0|**263 Carried forward non-trade deficits from loan relationships**
**and derivative contracts (financial instruments)**
£
0
0
•
**265 Non-trading losses on intangible fixed assets**
£
0
0
•
**275 Total trading losses of this or a later accounting period**
£
0
0
•
**280 Put an ‘X’ in box 280 if amounts carried back from later**
**accounting periods are included in box 275**
**285 Trading losses carried forward and claimed against total profits**£
0
0
•
**290 Non-trade capital allowances**
£
0
0
•
**295 Total of deductions and reliefs**
**–** total of boxes 240 to 275, 285 and 290
£
0
0
•
**300 Profits before qualifying donations and group relief**
**–** box 235 minus box 295
£
0
0
•
**305 Qualifying donations**
£
0
0
•
**310 Group relief**
£
0
0
•
**312 Group relief for carried forward losses**
£
0
0
•
**315 Profits chargeable to Corporation Tax**
**–** box 300 minus boxes 305, 310 and 312
£
0
0
•
**320 Ring fence profits included**
£
0
0
•
**325 Northern Ireland profits included**
£
0
0
•
0|**263 Carried forward non-trade deficits from loan relationships**
**and derivative contracts (financial instruments)**
£
0
0
•
**265 Non-trading losses on intangible fixed assets**
£
0
0
•
**275 Total trading losses of this or a later accounting period**
£
0
0
•
**280 Put an ‘X’ in box 280 if amounts carried back from later**
**accounting periods are included in box 275**
**285 Trading losses carried forward and claimed against total profits**£
0
0
•
**290 Non-trade capital allowances**
£
0
0
•
**295 Total of deductions and reliefs**
**–** total of boxes 240 to 275, 285 and 290
£
0
0
•
**300 Profits before qualifying donations and group relief**
**–** box 235 minus box 295
£
0
0
•
**305 Qualifying donations**
£
0
0
•
**310 Group relief**
£
0
0
•
**312 Group relief for carried forward losses**
£
0
0
•
**315 Profits chargeable to Corporation Tax**
**–** box 300 minus boxes 305, 310 and 312
£
0
0
•
**320 Ring fence profits included**
£
0
0
•
**325 Northern Ireland profits included**
£
0
0
•
0| |---|---|---| ||0|0| ## Tax calculation - **326 Number of associated companies in this period** - **327 Number of associated companies in the first financial year** - **328 Number of associated companies in the second financial year** - **329 Put an ‘X’ in box 329 if the company is chargeable at the small profit rate or is entitled to marginal relief** Enter how much profit has to be charged and at what rate **----- Start of picture text -----**
Financial Amount of profit Rate of tax Tax
year (yyyy) %
330 335 £ 340 345 £ p
350 £ 355 360 £ p
365 £ 370 375 £ p
380 385 £ 390 395 £ p
400 £ 405 410 £ p
415 £ 420 425 £ p
**----- End of picture text -----**
������������������������������������������� ������ (T266T) Tax calculation – continued ||||||||||||||||||| |---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---| |**Corporation Tax**– total of boxes 345, 360, 375, 395, 410 and 425|**430**|£||||||||||||•|||| ||||||||||||||||||| |**Marginal relief**|**435**|£||||||||||||•|||| ||||||||||||||||||| |**Corporation Tax chargeable**– box 430 minus box 435|**440**|£|||||||||||0|•|0|0|| ||||||||||||||||||| ## Reliefs and deductions in terms of tax ||||||||||||||||||| |---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---| |**445 **|**Community Investment Tax Relief**|£||||||||||||•|||| ||||||||||||||||||| |**450 **|**Double Taxation Relief**|£||||||||||||•|||| |**455 **|**Put an ‘X’ in box 455 if box 450 includes an underlying**
**rate relief claim**||||||||||||||||| |**460 **|**Put an ‘X’ in box 460 if box 450 includes an amount carried**
**back from a later period**||||||||||||||||| |**465 **|**Advance Corporation Tax**|£||||||||||||•|||| ||||||||||||||||||| |**470 **|**Total reliefs and deduction in terms of tax**|£||||||||||||•|||| ||– total of boxes 445, 450 and 465||||||||||||||||| ## Coronavirus support schemes and overpayments (see CT600 Guide for definitions) ||||||||||||||||||| |---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---| |**471 **|**Coronavirus Job Retention Scheme (CJRS) received**|£||||||||||||•|||| ||||||||||||||||||| |**472 **|**CJRS entitlement**|£||||||||||||•|||| ||||||||||||||||||| |**473 **|**CJRS overpayment already assessed or voluntary disclosed**|£||||||||||||•|||| ||||||||||||||||||| |**474 **|**Other coronavirus overpayments**|£||||||||||||•|||| ||||||||||||||||||| ## Energy levies ||||||||||||||||||| |---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---| |**986 **|**Energy (Oil and Gas) Profits Levy (EOGPL) amounts liable**|£||||||||||||•|0|0|| ||||||||||||||||||| |**987 **|**Electricity Generator Levy (EGL) exceptional generation receipts**|£||||||||||||•|0|0|| ||||||||||||||||||| |Calculation of tax outstanding or overpaid|||||||||||||||||| ||||||||||||||||||| |**475 **|**Net Corporation Tax liability – **box 440 minus box 470|£||||||||||||•|||| ||||||||||||||||||| |**480 **|**Tax payable on loans and arrangements to participators**|£|||||||||||0|•|0|0|| |**485 **|**Put an ‘X’ in box 485 if you completed box A70 in the**
**supplementary pages CT600A**||||||||||||||||| |**490 **|**Controlled Foreign Companies (CFC) tax payable**|£||||||||||||•|||| ||||||||||||||||||| |**495 **|**Bank levy payable**|£||||||||||||•|||| ||||||||||||||||||| |**496 **|**Bank surcharge payable**|£||||||||||||•|||| ||||||||||||||||||| |**497 **|**Residential Property Developer Tax (RPDT) payable**|£||||||||||||•|||| ||||||||||||||||||| ������������������������������������������� ������ (T266T) Calculation of tax outstanding or overpaid – continued ||||||||||||||||||| |---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---| |**500 **|**CFC tax, bank levy, bank surcharge and RPDT payable**|£||||||||||||•|||| ||**–**total of boxes 490, 495, 496 and 497||||||||||||||||| |**501 **|**EOGPL payable**|£||||||||||||•|||| ||||||||||||||||||| |**502 **|**EGL payable**|£||||||||||||•|||| ||||||||||||||||||| |**505 **|**Supplementary charge (ring fence trades) payable**|£||||||||||||•|||| |**510 **|**Tax chargeable**||||||||||||||||| ||**_–_** total of boxes 475, 480, 500, 501, 502 and 505|£|||||||||||0|•|0|0|| ||||||||||||||||||| |**515 **|**Income Tax deducted from gross income included in profits**|£||||||||||||•|||| ||||||||||||||||||| |**520 **|**Income Tax repayable to the company**|£||||||||||||•|||| ||||||||||||||||||| |**525 **|**Self-assessment of tax payable before restitution tax**|£|||||||||||0|•|0|0|| ||**and coronavirus support scheme overpayments**||||||||||||||||| ||**–** box 510 minus box 515||||||||||||||||| |**526 **|**Coronavirus support schemes overpayment now due**|£|||||||||||0|•|0|0|| ||**–** total of boxes 471 and 474 minus boxes 472 and 473||||||||||||||||| |**527 **|**Restitution tax**|£||||||||||||•|||| ||||||||||||||||||| |**528 **|**Self-assessment of tax payable**|£|||||||||||0|•|0|0|| ||**–** total of boxes 525, 526 and 527||||||||||||||||| ## Tax reconciliation ||||||||||||||||||| |---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---| |**530**|**Research and Development credit**|£||||||||||||•|||| ||||||||||||||||||| |**535**|**(Not currently used)**|£||||||||||||•|||| ||||||||||||||||||| |**540**|**Creatives tax credit**|£||||||||||||•|||| ||||||||||||||||||| |**545 **|**Total of Research and Development credit**|£||||||||||||•|||| ||**and creative tax credit –**total box 530 to 540||||||||||||||||| |**550**|**Land remediation tax credit**|£||||||||||||•|||| ||||||||||||||||||| |**555**|**Life assurance company tax credit**|£||||||||||||•|||| ||||||||||||||||||| |**560 **|**Total land remediation and life assurance company tax credit**|£||||||||||||•|||| ||**–**total box 550 and 555||||||||||||||||| |**565 **|**Capital allowances first-year tax credit**|£||||||||||||•|||| ||||||||||||||||||| |**570 **|**Surplus Research and Development credits or**|£||||||||||||•|||| ||**creative tax credit payable –**box 545 minus box 525||||||||||||||||| |**575 **|**Land remediation or life assurance company tax credit payable**
**–**total of boxes 545 and 560 minus boxes 525 and 570|£||||||||||||•|||| ������������������������������������������� ������ (T266T) Tax reconciliation – continued **----- Start of picture text -----**
580 Capital allowances first-year tax credit payable £ •
–
boxes 545, 560 and 565 minus boxes 525, 570 and 575
585 Ring fence Corporation Tax included £ •
586 NI Corporation Tax included £ •
590 Ring fence supplementary charge included £ •
595 Tax already paid (and not already repaid) £ •
600 Tax outstanding £ •
–
box 525 minus boxes 545, 560, 565 and 595
605 Tax overpaid including surplus or payable credits £ •
–
total sum of boxes 545, 560, 565 and 595 minus 525
610 Group tax refunds surrendered to this company £ •
615 Research and Development expenditure credits £ •
surrendered to this company
**----- End of picture text -----**
## Exporter information **During the return period, did the company export goods and/or services to individuals, enterprises or organisations outside the United Kingdom (UK)? 616 Yes – goods 617 Yes – services 618 No – neither** ## Indicators and information **----- Start of picture text -----**
620 Franked investment income/Exempt ABGH distributions £ • 0 0
625 Number of 51% group companies
Put an ‘X’ in the relevant boxes, if in the period, the company:
630 should have made (whether it has or not) instalment payments as a large company
under the Corporation Tax (Instalment Payments) Regulations
631 should have made (whether it has or not) instalment payments as a very large company
under the Corporation Tax (Instalment Payments) Regulations
635 is within a group payments arrangement for the period
640 has written down or sold intangible assets
645 has made cross-border royalty payments
647 Eat Out to Help Out Scheme: reimbursed discounts £ • 0 0
included as taxable income
**----- End of picture text -----**
������������������������������������������� ������ (T266T) ## **Information about enhanced expenditure and tax relief** Research and Development (R&D) or creative enhanced expenditure and tax relief ||**650 **|**Put an ‘X’ in box 650 if the claim is made by a small or medium-sized**
**enterprise (SME), including a SME subcontractor to a large company**|**Put an ‘X’ in box 650 if the claim is made by a small or medium-sized**
**enterprise (SME), including a SME subcontractor to a large company**|**Put an ‘X’ in box 650 if the claim is made by a small or medium-sized**
**enterprise (SME), including a SME subcontractor to a large company**||||||||||||||| |---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---| ||**655 **|**Put an ‘X’ in box 655 if the claim is made by a large company**||||||||||||||||| ||**656 **|**Put an ‘X’ in box 656 to confirm that a R&D claim notification form has been submitted**||||||||||||||||| ||**657 **|**Put an ‘X’ in box 657 to confirm that an additional information form has been**|||||**submitted**|||||||||||| ||**659 **|**R&D expenditure qualifying for SME R&D relief**|£||||||||||||•|0|0|| |||||||||||||||||||| ||**660**|**R&D enhanced expenditure**|£||||||||||||•|0|0|| |||||||||||||||||||| ||**665**|**Creative qualifying expenditure and/or additional deduction**|£||||||||||||•|0|0|| |||||||||||||||||||| ||**670 **|**R&D and creative enhanced expenditure**|£||||||||||||•|0|0|| |||total box 660 and box 665||||||||||||||||| ||**675 **|**R&D enhanced expenditure of a SME on work**|£||||||||||||•|0|0|| |||**subcontracted to it by a large company**||||||||||||||||| ||**680 **|**Vaccine research expenditure**|£||||||||||||•|0|0|| |||||||||||||||||||| |Land remediation enhanced expenditure||||||||||||||||||| |||||||||||||||||||| ||**685 **|**Enter the total enhanced expenditure**|£||||||||||||•|0|0|| |||||||||||||||||||| **Information about capital allowances and balancing charges/disposal values** Allowances and charges in the calculation of trading profits and losses ||**Capital allowances**|**Capital allowances**|**Capital allowances**|**Capital allowances**|**Capital allowances**|||||||||**Balancing charges**|**Balancing charges**|**Balancing charges**|**Balancing charges**|**Balancing charges**|||||||||| |---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---| |**Annual investment**
**allowance**|**690**|£|||||||||||||||||||||||||| |**Full expensing**|**688**|£||||||||||||**689**|£||||||||||||| |**Machinery and plant**
**– super-deduction**|
**691**|£||||||||||||**692**|£||||||||||||| |**Machinery and plant**
**– special rate allowance**|**693**|£||||||||||||**694**|£||||||||||||| |**Machinery and plant**
**– special rate pool**|**695**|£||||||||||||**700**|£||||||||||||| |**Machinery and plant**
**– main pool**|**705**|£||||||||||||**710**|£||||||||||||| |**Structures and**
**buildings**|**711**|£|||||||||||||||||||||||||| |**Business premises**
**renovation**|**715**|£||||||||||||**720**|£||||||||||||| |**Other allowances**
**and charges**|**725**|£||||||||||||**730**|£||||||||||||| ������������������������������������������� ������ (T266T) Allowances and charges in the calculation of trading profits and losses – continued ||**Capital allowances**|**Capital allowances**|**Capital allowances**|**Capital allowances**|**Capital allowances**|||||||||**Disposal**|**Disposal**|**value**|**value**||||||||||| |---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---| |**Electric**
**charge-points**|**713**|£||||||||||||**714**|£||||||||||||| |**Enterprise zones**|**721**|£||||||||||||**722**|£||||||||||||| |**Zero emissions**
**goods vehicles**|**723**|£||||||||||||**724**|£||||||||||||| |**Zero emissions**|**726**|£||||||||||||**727**|£||||||||||||| |**cars**|||||||||||||||||||||||||||| ## Allowances and charges not included in the calculation of trading profits and losses ||**Capital allowances**|**Capital allowances**|**Capital allowances**|**Capital allowances**|**Capital allowances**|||||||||**Balancing charges**|**Balancing charges**|**Balancing charges**|**Balancing charges**|**Balancing charges**|||||||||| |---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---| |**Annual investment**
**allowance**|**735**|£|||||||||||||||||||||||||| |**Structures and**
**buildings**|**736**|£|||||||||||||||||||||||||| |**Full expensing**|**733**|£||||||||||||**734**|£||||||||||||| |**Business premises**
**renovation**|**740**|£||||||||||||**745**|£||||||||||||| |**Machinery and plant**
**– super-deduction**|**741**|£||||||||||||**742**|£||||||||||||| |**Machinery and plant**
**– special rate allowance**|**743**|£||||||||||||**744**|£||||||||||||| |**Other allowances**
**and charges**|**750**|£||||||||||||**755**|£||||||||||||| ||**Capital allowances**|||||||||||||**Disposal**||**value**|||||||||||| |**Electric**
**charge-points**|**737**|£||||||||||||**738**|£||||||||||||| |**Enterprise zones**|**746**|£||||||||||||**747**|£||||||||||||| |**Zero emissions**
**goods vehicles**|**748**|£||||||||||||**749**|£||||||||||||| |**Zero emissions**|**751**|£||||||||||||**752**|£||||||||||||| |**cars**|||||||||||||||||||||||||||| ������������������������������������������� ������ (T266T) Qualifying expenditure |**760 Machinery and plant on which first**
**year allowance is claimed**
£
0
0
•
**765 Designated environmentally friendly**
**machinery and plant**
£
0
0
•
**770 Machinery and plant on long-life**
**assets and integral features**
£
0
0
•
**771 Structures and buildings**
£
0
0
•
**772 Machinery and plant**
**– super-deduction**
£
0
0
•
**773 Machinery and plant**
**– special rate allowance**
£
0
0
•
**775 Other machinery and plant**
£
0
0
•|0|0| |---|---|---| ||0|0| ## **Losses, deficits and excess amounts** Amount arising ||**Amount**|**Amount**||||||||||||**Maximum available**|**Maximum available**|**Maximum available**|**Maximum available**|**Maximum available**|**for surrender**|**for surrender**|**for surrender**|**for surrender**|||||| |---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---| |||||||||||||||**as group relief**|||||||||||||| |**Losses of trades**
**carried on wholly**|**780**|£||||||||||||**785**|£||||||||||||| |**or partly in the UK**
**Losses of trades**|**790**|£|||||||||||||||||||||||||| |**carried on wholly**|||||||||||||||||||||||||||| |**outside the UK**|||||||||||||||||||||||||||| |**Non-trade deficits**|**795**|£||||||||||||**800**|£||||||||||||| |**on loan relationships**|||||||||||||||||||||||||||| |**and derivative contracts**|||||||||||||||||||||||||||| |**UK property**
**business losses**|**805**|£||||||||||||**810**|£||||||||||||| |**Overseas property**
**business losses**|**815**|£|||||||||||||||||||||||||| |**Losses from**
**miscellaneous**|**820**|£|||||||||||||||||||||||||| |**transactions**|||||||||||||||||||||||||||| |**Capital losses**|**825**|£|||||||||||||||||||||||||| |**Non-trading losses on**
**intangible fixed assets**|**830**|£||||||||||||**835**|£||||||||||||| ## Excess amounts ||**Amount**|**Amount**||||||||||||**Maximum available**|**Maximum available**|**Maximum available**|**Maximum available**|**Maximum available**|**for surrender**|**for surrender**|**for surrender**|**for surrender**|||||| |---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---| |||||||||||||||**as group relief**|||||||||||||| |**Non-trade capital**
**allowances**||||||||||||||**840**|£||||||||||||| |**Qualifying donations**||||||||||||||**845**|£||||||||||||| ||||||||||||||||||||||||||||| |**Management expenses**|**850**|£||||||||||||**855**|£||||||||||||| ||||||||||||||||||||||||||||| ������������������������������������������� ������� (T266T) **Northern Ireland information** |**856 **|**Amount of group relief claimed which relates to NI trading**
**losses used against rest of UK/mainstream profits**|£||||||||||||•|0|0|| |---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---| |**857 **|**Amount of group relief claimed which relates to NI trading**
**losses used against NI trading profits**|£||||||||||||•|0|0|| |**858 **|**Amount of group relief claimed which relates to rest of**
**UK/mainstream losses used against NI trading profits**|£||||||||||||•|0|0|| ## **Overpayments and repayments** Small repayments **860 Do not repay sums of** £ • 0 0 **or less.** **Read the overpayments and repayments section of the Company Tax Return Guide for specific guidance on when and how to make an entry in this box.** ## Repayments for the period covered by this return |**865**|**Repayment of Corporation Tax**|£||||||||||||•| |---|---|---|---|---|---|---|---|---|---|---|---|---|---|---| |||||||||||||||| |**870**|**Repayment of Income Tax**|£||||||||||||•| |||||||||||||||| |**875**|**Payable Research and Development tax credit**|£||||||||||||•| |||||||||||||||| |**880**|**Payable Research and Development expenditure credit**|£||||||||||||•| |||||||||||||||| |**885**|**Payable creative tax credit**|£||||||||||||•| |||||||||||||||| |**890**|**Payable land remediation or life assurance company**|£||||||||||||•| ||**tax credit**|||||||||||||| |**895**|**Payable capital allowances first-year tax credit**|£||||||||||||•| ## Surrender of tax refund within group ||**Including surrenders under the Instalment Payments Regulations**|**Including surrenders under the Instalment Payments Regulations**|||||||||||||||||| |---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---| |**900 **|**The following amount is to be surrendered**|£||||||||||||||•|||| ||**Put an ‘X’ in the appropriate boxes below**||||||||||||||||||| ||**the joint Notice is attached**|**905**|||||||||||||||||| ||**or**||||||||||||||||||| ||**will follow**|**910**|||||||||||||||||| ||||||||||||||||||||| |**915**|**Please stop repayment of the following amount**|£||||||||||||||•|||| ||**until we send you the Notice**||||||||||||||||||| ������������������������������������������� ������� **(T266T)** Bank details (for a person to whom a repayment is to be made) **920 Name of bank or building society** **925 Branch sort code** **930 Account number** **935 Name of account** **940 Building society reference** ## Payments to a person other than the company **945 Complete the authority below if you want the repayment to be made to a person other than the company I, as** (enter status – for example, company secretary, treasurer, liquidator or authorised agent) **950 of** (enter company name) - **955 authorise** (enter name) - **960 of address** (enter address) **965 Nominee reference** **to receive payment on company’s behalf** **970 Name** ## **Declaration** **Declaration** I declare that the information I have given on this Company Tax Return and any supplementary pages is correct and complete to the best of my knowledge and belief. I understand that giving false information in the return, or concealing any part of the company’s profits or tax payable, can lead to both the company and me being prosecuted. **975 Name** **980 Date** DD MM YYYY **985 Status** ������������������������������������������� ������� (T266T) **Company Tax Return – supplementary page Charities and Community Amateur Sports Clubs (CASCs) CT600E (2015) Version 3 for accounting periods starting on or after 1 April 2015** ## **Guidance** Guidance about when and how to complete this supplementary page can be found in the CT600 Guide. For further information read _What supplementary pages do I need to complete and include as part of the Company Tax Return?_ to find out what supplementary pages you need to complete. Also, read the _Important points about all supplementary pages_ and _CT600E – Charities and Community Amateur Sports Clubs (CASCs)_ for further guidance about completing this supplementary page. ## **Company information** **----- Start of picture text -----**
E1 Company name The Dacapo Music Foundation Limited
(name of charity or CASC)
E2 Tax reference
Period covered by this supplementary page (cannot exceed 12 months)
E3 from DD MM YYYY
0 1 0 9 2 0 2 2
E4 to DD MM YYYY
3 1 0 8 2 0 2 3
Claims to exemption ( this section should be completed in all cases)
Charity/CASC repayment reference E5
Charity Commission registration number, or E10 1136051
OSCR number (if applicable)
Put an ‘X’ in the relevant box if during the period covered by these supplementary pages:
The company was a charity/CASC and is claiming E15 X
exemption from all tax on all or part of its income
and gains (Also put an ‘X’ in box E15 if the company
was a charity/CASC but had no income or gains in the period)
All income and gains are exempt from tax and have been, E20 X
or will be, applied for charitable or qualifying purposes only
Some of the income and gains may not be exempt or have E25
not been applied for charitable or qualifying purposes only,
and I have completed form CT600
I claim exemption from tax
Name
E30
Status
E35
Date DD MM YYYY
E40
**----- End of picture text -----**
CT600E(2015) Version 3 HMRC 04/15 Page 1 (T266T) Repayments **To make a repayment claim for the period covered by these supplementary pages, please register and enrol to use the Charities Online service. See CT600 guide for further information.** **Put an ‘X’ in the box if during the period covered by these supplementary pages you have over claimed tax.** **E45** ## Information required **Enter details of any income received from the following sources, claimed as exempt from tax in the hands of the charity/CASC. Enter the figure included in the charity’s/CASC’S accounts for the period covered by this return.** ## **Non-exempt amounts should be entered on form CT600 in the appropriate boxes.** |**Type of income**
**Amount**
**Enter total turnover from exempt charitable**
**trading activities**
£
0
0
•
**E50**
**Investment income – exclude any amounts included on**
**form CT600**
£
0
0
•
**E55**
**UK land and buildings – exclude any amounts included**
**on form CT600**
£
0
0
•
**E60**
**Gift Aid – exclude any amounts included on form CT600**
£
0
0
•
**E65**
**From other charities – exclude any amounts included**
**on form CT600**
£
0
0
•
**E70**
**Gifts of shares or securities received**
£
0
0
•
**E75**
**Gifts of real property received**
£
0
0
•
**E80**
**Other sources (not included above)**
£
0
0
•
**E85**
**Total of boxes E50 to E85**
£
0
0
•
**E90**|**Type of income**
**Amount**
**Enter total turnover from exempt charitable**
**trading activities**
£
0
0
•
**E50**
**Investment income – exclude any amounts included on**
**form CT600**
£
0
0
•
**E55**
**UK land and buildings – exclude any amounts included**
**on form CT600**
£
0
0
•
**E60**
**Gift Aid – exclude any amounts included on form CT600**
£
0
0
•
**E65**
**From other charities – exclude any amounts included**
**on form CT600**
£
0
0
•
**E70**
**Gifts of shares or securities received**
£
0
0
•
**E75**
**Gifts of real property received**
£
0
0
•
**E80**
**Other sources (not included above)**
£
0
0
•
**E85**
**Total of boxes E50 to E85**
£
0
0
•
**E90**|**Type of income**
**Amount**
**Enter total turnover from exempt charitable**
**trading activities**
£
0
0
•
**E50**
**Investment income – exclude any amounts included on**
**form CT600**
£
0
0
•
**E55**
**UK land and buildings – exclude any amounts included**
**on form CT600**
£
0
0
•
**E60**
**Gift Aid – exclude any amounts included on form CT600**
£
0
0
•
**E65**
**From other charities – exclude any amounts included**
**on form CT600**
£
0
0
•
**E70**
**Gifts of shares or securities received**
£
0
0
•
**E75**
**Gifts of real property received**
£
0
0
•
**E80**
**Other sources (not included above)**
£
0
0
•
**E85**
**Total of boxes E50 to E85**
£
0
0
•
**E90**| |---|---|---| ||0|0| **Enter details of expenditure as shown in the charity’s/CASC’s accounts for the period covered by these supplementary pages** |**Type of expenditure**
**Amount**
**Trading costs in relation to exempt charitable activities**
**(in box E50)**
£
0
0
•
**E95**
**UK land and buildings costs in relation to exempt**
**charitable activities (in box E60)**
£
0
0
•
**E100**
**All general administration/governance costs**
£
0
0
•
**E105**
**All grants and donations made within the UK**
£
0
0
•
**E110**
**All grants and donations made outside the UK**
£
0
0
•
**E115**
**Other expenditure not included above, or not used in**
**calculating figures entered on the form CT600**
£
0
0
•
**E120**
**Total of boxes E95 to E120**
£
0
0
•
**E125**
0|**Type of expenditure**
**Amount**
**Trading costs in relation to exempt charitable activities**
**(in box E50)**
£
0
0
•
**E95**
**UK land and buildings costs in relation to exempt**
**charitable activities (in box E60)**
£
0
0
•
**E100**
**All general administration/governance costs**
£
0
0
•
**E105**
**All grants and donations made within the UK**
£
0
0
•
**E110**
**All grants and donations made outside the UK**
£
0
0
•
**E115**
**Other expenditure not included above, or not used in**
**calculating figures entered on the form CT600**
£
0
0
•
**E120**
**Total of boxes E95 to E120**
£
0
0
•
**E125**
0|**Type of expenditure**
**Amount**
**Trading costs in relation to exempt charitable activities**
**(in box E50)**
£
0
0
•
**E95**
**UK land and buildings costs in relation to exempt**
**charitable activities (in box E60)**
£
0
0
•
**E100**
**All general administration/governance costs**
£
0
0
•
**E105**
**All grants and donations made within the UK**
£
0
0
•
**E110**
**All grants and donations made outside the UK**
£
0
0
•
**E115**
**Other expenditure not included above, or not used in**
**calculating figures entered on the form CT600**
£
0
0
•
**E120**
**Total of boxes E95 to E120**
£
0
0
•
**E125**
0| |---|---|---| ||0|0| CT600E(2015) Version 3 Page 2 HMRC 04/15 (T266T) Information required ## **Charity/CASC assets** |**Charity/CASC assets**|**Charity/CASC assets**|**Charity/CASC assets**|**Charity/CASC assets**||||||||||||||||||| |---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---| |**Disposals in period**|||||||||||||**Held at the**|||**end of the period**|||||| |**(total consideration received)**|||||||||||||**(use accounts figures)**||||||||| |**Tangible fixed**
**E130**
£|||||||||||||**E135**|£|||||||| |**assets**|||||||||||||||||||||| |**UK investments**
**E140**
£|||||||||||||**E145**|£|||||||| |**(excluding**|||||||||||||||||||||| |**controlled companies)**|||||||||||||||||||||| |**Shares in,**
**E150**
£|||||||||||||**E155**|£|||||||| |**and loans to,**|||||||||||||||||||||| |**controlled companies**|||||||||||||||||||||| |**Overseas**
**E160**
£|||||||||||||**E165**|£|||||||| |**investments**|||||||||||||||||||||| |**Loans and non-trade debtors**|||||||||||||**E170**|£|||||||| ||||||||||||||||||||||| |**Other current assets**|||||||||||||**E175**|£|||||||| ||||||||||||||||||||||| |**Qualifying investments and loans**|||||||||||||**E180**||||||||| |_Applies to charities only. See CT600 Guide_|||||||||||||||||||||| |**Value of any non-qualifying investments and loans**|||||||||||||**E185**|£|||||||| |_Applies to charities only. See CT600 Guide_|||||||||||||||||||||| |**Number of subsidiary or associated companies the charity**|||||||||||||**E190**|1|||||||| |**controls at the end of the period. Exclude companies that**|||||||||||||||||||||| |**were dormant throughout the period**|||||||||||||||||||||| CT600E(2015) Version 3 HMRC 04/15 Page 3 TO BE TYPED ON DACAPO MUSIC FOUNDATION LETTERHEAD, SIGNED BY THE TRUSTEES AND RETURNED TO WARR & CO Warr & Co Mynshull House 78 Churchgate Stockport SK1 1YJ Dear Sirs The following representations are made on the basis of enquiries of management and staff with relevant knowledge and experience such as we consider necessary in connection with your independent examination of the ��������������������� financial statements for the year ended 31 August 2023. These enquiries have included inspection of supporting documentation where appropriate and are sufficient to satisfy ourselves that we can make each of the following representations. All representations are made to the best of our knowledge and belief. ## **General** 1. We acknowledge that the work performed by you is substantially less in scope than an audit performed in accordance with International Standards on Auditing (UK) and that you do not express an audit opinion. 2. We confirm that the charitable company qualifies as small in accordance with the conditions set out in chapter 1 of part 15 of the Companies Act 2006. 3. We confirm that the charitable company was entitled to exemption under section 144 of the Charities Act 2011 the requirement to have its financial statements for the financial year ended 31 August 2022 audited. We also confirm that the members have not required the company to obtain an audit of its financial statements for the financial year in accordance with section 476 of the Companies Act 2006. 4. We have fulfilled our responsibilities as trustees as set out in the terms of your engagement letter dated 30 January 2023 under the Companies Act 2006 / Charities Act 2011 for preparing financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), for being satisfied that they give a true and fair view and for making accurate representations to you. 5. All the transactions undertaken by the charitable company have been properly reflected and recorded in the accounting records. 6. All the accounting records have been made available to you for the purpose of your independent examination. We have provided you with unrestricted access to all appropriate persons within the charitable company, and with all other records and related information requested, including minutes of all management and trustee meetings and correspondence with The Charity Commission. 7. The financial statements are free of material misstatements, including omissions. 8. The effects of uncorrected misstatements are immaterial both individually and in total. ## **Assets and liabilities** 9. The charitable company has satisfactory title to all assets and there are no liens or encumbrances on the charitable ���������� assets, except for those that are disclosed in the notes to the financial statements. 10. All actual liabilities, contingent liabilities and guarantees given to third parties have been recorded or disclosed as appropriate. 11. We have no plans or intentions that may materially alter the carrying value and, where relevant, the fair value measurements or classification of assets and liabilities reflected in the financial statements. ## **Accounting estimates** 12. The methods, data and significant assumptions used by us in making accounting estimates, and their related disclosures, are appropriate to achieve recognition, measurement and disclosure that is reasonable in the context of the applicable financial reporting framework. 13. The charitable company has not granted any advances or credits to, or made guarantees on behalf of trustees other than those disclosed in the financial statements. ## **Legal claims** 14. We have disclosed to you all claims in connection with litigation that have been, or are expected to be, received and such matters, as appropriate, have been properly accounted for and disclosed in the financial statements. ## **Laws and regulations** 15. We have disclosed to you all known instances of non-compliance or suspected non-compliance with laws and regulations whose effects should be considered when preparing the financial statements. ## **Related parties** 16. Related party relationships and transactions have been appropriately accounted for and disclosed in the financial statements. We have disclosed to you all relevant information concerning such relationships and transactions and are not aware of any other matters which require disclosure in order to comply with legislative and accounting standards requirements. ## **Subsequent events** 17. All events subsequent to the date of the financial statements which require adjustment or disclosure have been properly accounted for and disclosed. ## **Going concern** ���������������������������������������������� financial statements should be prepared on a going concern basis on the grounds that current and future sources of funding or support will ��������������������������������������������������� needs. We have considered a period of twelve months from the date of approval of the financial statements. We believe that no further disclosures relating to the charitable ability to continue as a going concern need to be made in the financial statements. ## **Grants and donations** 19. All grants, donations and other income, the receipt of which is subject to specific terms or conditions, have been notified to you. There have been no breaches of terms or conditions in the application of such income. ## **Charges** 20. We confirm that the charge registered at Companies House in respect of the Rent deposit deed is no longer outstanding and the directors/trustees intend to submit a Statement of Satisfaction to Companies House. Yours faithfully .............................................................................................................................. Signed on behalf of the board of trustees The Dacapo Music Foundation Wren Academy Hilton Avenue London N12 9HB |**INVOICE**|**INVOICE**| |---|---| |**Invoice No**|70568
13/05/2024
T266T| |**Invoice Date**|| |**Account Ref**|| |**Description**|**Net Amt**|**VAT %**|**VAT**| |---|---|---|---| |To professional services rendered in connection|||| |with:|||| |1. preparation of financial statements for the year|||| |ended 31 August 2023;|||| |2. completion of the corporation tax return for the
year ended 31 August 2023;|1,375.00|20.00|275.00| |3. undertaking the independent examination of the
accounts for the year ended 31 August 2023;|1,000.00|20.00|200.00| |4. reviewing the management accounts and Xero|||| |records for the terms to August 2023 and
meetings with Michelle Grove and Roanna Winter.|750.00|20.00|150.00| ||**VAT REG NO. 119 5566 92**
**This invoice is payable on presentation**
Cheques payable to: Warr & Co Limited
By bank transfer to: Metro Bank
Sort code: 23-05-80
Account number 19046206
Quote your reference:
T266T|||| |---|---|---|---|---| ||||**Total Net Amount**|£
3,125.00| ||||**Total Tax Amount**|£
625.00| ||||**Invoice Total**|3,750.00
£| |||||| Warr & Co is the trading name of Warr & Co Limited. (Registered in England and Wales No. 07676926). Registered to carry on audit work in the UK and regulated for a range of investment business activities by the Institute of Chartered Accountants in England and Wales. Directors: T.V. Warr ACA, S.C. Barnes FCA, P.J. Edwards ACA, S.P. Dhokia ACA, N.J. Joyce ACA, FCCA, D.T. Lever FCA, R. Benson-May ACA