REGISTERED COMPANY NUMBER: 06698862 (England and Wales) REGISTERED CHARITY NUMBER: 1136051 ort of the Trustees and Unaudited Financial Statements for tlie Year Ended 31 Au ust 2024 tor The Daca Music Foundatinn 1.5mited Warr & Co Limited Chartered Accountants Mynshull House 78 Churchgate Stuckport Cheshire SKI IYJ
The Daca o Music Foundation Limlted Contents of the Fiiiancial Statements or the Ye(Ir Ended 31 Au ust 02 Page Reference and administrative details Report of the trustees Independent examiner's report Stalement of flnanclal actlvltles Balance 5heel Notes to ihe Ilnanclal statements 10 to 19
The Daca o Music Foundation Limlted ReferenLe and A(Imini5tratiTre Detail tor the Year Lnded 31 Au ust 2024 Trustees Ms M A Hcaly J P Mcclelland Ms R Muenger Ms E N Norman S Sreedher D Spreadbury G Colella Ms H Ding (appointed 12.10.23) Registered office Wren Acadeiny Hilton Avenue London N129HB Registered company number 06698862 (England and Wales) Registered charity. number 1136051 Independent examlner Warr & Co Liiniled Chartered Accountants Mynshull House 78 Churchgate Stockport Cheshire SKI IYJ Bankers Ndlivndl W¢iilminsl¢r B41nk PLC 120 High Street Barnet Hertfordshire EN_S .SFF Page I
The Daea o MusSe Foundation Llmited istered number: 06698862 urt uf the Trustees for the Year Lnded 31 Au ust 2024 Thc trustccs wlio arc also dircctors of thc charity for thc purposcs ot" thc Companics Act 2006, prLscnt tl)cir report with ihc financial statements of the charity for the year ended 31 August 2024. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable lo charilies preparing their accouiit% in accordance with the Fii)ancial Reporting Standard applicable in the UK (Ind Republic of Ireland (FRS 102) (effective l Jaiiuary 2019). Objectives and activities ObjeL'tives and aims The object% ar¢ to advance the Dacapo approach to music education and appreciation for childreii and adults in the United Kingdoiii. This will be achieved through fainily music centres, in school and out of SLhool Workshops aiid projects and also through a comprehensive teacher training programme. Public benefit The Dacapo Muqic Foundation Limited meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or trans1< Ction value unlesb OtheNise stated in the relevant accounting policy notes. The trustees conlirm that Ihey have referred io the guidance conlained in the Charity Commission's geiieral guidance on public beiietil when reviewing the chariiy's aims and objeclives and in planning future activities. Achlevement and performance Charllable actlvltles It has been another successful year for Dacapo iii its clelivery of a first class and ini)ovalive musical eduLalion both at our Satiirday CcntrL and witliin 9 London primar5, schools. Ovcr thc ycar, Dacapo's cducalional ott'cring has again bccn eni'iLhed by its partnerships with other oi'ganisatioiis, noiably Fantasia Orchestra aiid Proms at Sl Jude's whose aiinual t"eslival iii Jiine each year is a miisical highlight for oiir priiT)ary school sliide.nts, At tlieii. quaiterly boat'd iiieetit)gs, tlie Iruslees Lonsider a nuiiiber of inett'ics lo Inonitor ilie perfoi'mance of the Lhai'ily including numbers of new faniilies altending ihe Satiirdiiy centre (and departing), any changes to the number of priinary scliools suppoi'ted by, Dacapo, details of gi'ant applicaiions Inade and tlieir success and project work development supporting the charity's social impact strategy. Dacapo has also initialed an annual survey lo elicit feedback from ils key stakeholders (families: .schools and teachers) on all a.spects of its operation, During the course ot.the year, Ihe Trustees noted DaC,apo's success in leaching children and adults from 128 families ai the Saiui'day CrLlti'c {2023 135) aiid suppoitiiig 9 lIat¢ pi'iIiiai'y SLliools iii NoI'ili LuIidoii (2023 10). Tliib priiiiary scliool work enables Dacapo 10 provide its iiiiique holistic music education programine to a broader audience. Fln#ncial revleiv Flnanc IAI i)(iiitinn Overall, income and gains exceeded costs resuliing in a surplus of £8,723 (2023 Deficit £3,093). Reberves carried fonvard to next financial year sland al £17,027 (2023 £8,304). The r¢serv¢s position has been improved by the revaluation of the Dacapo's inslnjinent stock. Page 2
The Daea o MusSe Foundation Llmited istered number: 06698862 urt uf the Trustees for the Year Lnded 31 Au ust 2024 Financial reiryew R¢s¢rves policy The reserves policy of The Dacapo Music Foundation has been revtewed by the Board of Truslees. li is the intention of ihe directors to incre(i%e unrestricted re4erve8, in the medium terin, to a level of approxim(itely half a term of U%U£il con]pany expenditure, currenily £45,000. Curreni reserves fall below the level determined and the truslees are aLutely aware of the need to improve profitability. Dacapo has been looking closely at ways of both reducing ils operating costs and improvin its incoine wilh a view lo iinproving overall protilabilily. Duriiig Ihe year, Dacapo outsourced t'undraising to Vantage FundTaising lo support grant applications. Whilst this has eiiabled the Tale of applications to b¢ si¥nificatbily illCTeased, disappointingly. there hav¢ currently been only a small number of iucces%ful applications. The Trustees have assessed the major risks to ivhich the charity is exposed and are satisfied that systems are in place to mitigale exposure to these risks. The reserves policy is kept under regular review. Going concern The financial statements have been prepared on a going concern basis as the trustees believe that no Inaterial uncertainties exist. The trustees hawe considered ihe level of funds held and the expecied level ol. income and expenditure lor 12 months froin authorising these financial statements. The budgeted income and expenditure is sutficieiit with the level ot" reserves, and the support of a bank" overdraft, for the charitable cornpany to be able to continue as a going conLern. Coi'ld-19 The charitable Loinpany benefilted frc)In the Government coronavirus support by arranging a Bounceback Loan to assist with workingF capital rknquircmcnts during this diffiLult pcriod. Tliis has bccn partl¢illy drawn down. Future plans The Dacapo Board reinai11s fociissed on tlie coi)linLied provisioi) of a firyl level standard of care and suppon to our S¢iturday families and pi'iiiiary sLhools whilst developing prograinines which will extend access 10 a Dacapo inusiLal eduLation lo less well-otl, lamilies. Slructureg governance ¥Jnd management Governing documenl Thc. D41Capo Mu4ie Foundati()n Liinited WEL% iiiei)rp()rated a% a corni)aiiy liinited by qu'iraiitec aiid not hoving a sh41re Lai?ital under the Companies .4Li 1985 on 16 Sepietnber ?008. The Dacapo Music Foundaiion Limited was registered as a charity, iiuiiibeL' I1360.S I, witli ¢ffcil ti'oiii 21 May 201 O uiid¢I' 115 Mciii(IraiidiiIii aIid Ai'licle5 Ot. AsSOLiatioii. Da¥apo lias iio sliaI'e capital and the members of the board of trustees have no interest in ils sUlUS or assets and receive no remuneration. No trustee.s have any contract or arrangement of a material nature with the Foundation during the period under review. Recrultment and appnintment nf new trustees Prospeclive Iruslees are recommended by existing truslees or the Foundalion's senior management to join the board ot trustees or by open advertisernent. Jn selecling new trustees. the Board is cognisant of th¢ importance of div¢rsity in its composilion as well as ensiiring that there is a relevaiit raiige of skillsets and kiiowledge represented oli the Board. Page 3
The Daea o MusSe Foundation Llmited istered number: 06698862 urt uf the Trustees for the Year Lnded 31 Au ust 2024 Slructure? governance and management Or%anisational strueturc The tiiislees coiisider the trustees and the senior management leam comprise tlie key Imanagement pei'sonnel of the Foundation in charge of directing and coiitrolling) ruiining (Ind 0ratIng the ch(Irity on a day to d(iy ba%1%. All tru%tees and key personnel give their lime freely. The benior management teain include.. Principal Jane Cutler Chief Executive Officer Michelle Gl'oves Risk maiiagement Th¢ trustees have a duty to identify and review the risks lo which the charlty is exposed and to ensure appropriate controls are ii) place to provide reasonable assurance against fraud and error. The trustees have assessed Ihe major ri9ks to which Dacapo is exposed, and are satisfied that systemb are in plaLe to mitigate exposure to them. The trustees continue to review and monitor the systems lor managiing the major strategic. business and operalioi)al risks which Dacapo faces. As at 31 Augusl 2024 Ihe trustees have nol identified an5, new operaiional risks arising froin such matlers to which Dacapo may be exposed. Approved by order of Ihe bodr(l of trustees un 30 April 2025 <ind signed on its behalf by: J P ML'Llelland - Trustee Page 4
Inde endent Examiner's Re ort to the Trustees of The Daca o Music &"oundation Limited Independent examiner's report to the trustees of The Dacapo Music Foundation Limited ('the Company,) I report to the Ch(ltY trustees on my eX]natiOn of the aLLountS Lif the Compaiiy for the year ended 31 August 2024. Responsibilities and basis of report As the charity's trustees ot'the Coillpany (and also Its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance wilh the requirements of the Cornpanies Act 2006 ('Ihe 2006 Act,). Haviiig satisfied Lnyself ihat the aLcounls of the Company are not i'equired to be audited under Pan 16 of the 2006 Act and are eliThible t.or independent examination, I report in respect ot. my examination ot" your cbarily's accounts as carried out under Section 145 ot. Ihe Chariiies Act 2011 ('Ilie 201 l Aci,). In carrying oui my examination I have tolloived Ihe Directions giv¢n by the ChaTily Commission under Section 145(5) {b) of the 101 l Act. Page 5
Inde endent Examiner's Re ort to the Trustees of The Daca o Music &"oundation Limited Independent examiner's statement Since your charity's gross income exceeded £250,000 your examiner must be a Lnen]ber of a listed body. l Lan confirin that I am qualiticd to undcrtakc tl)c cxaminatlDn bccausc l am a mcmbcr of tlic Inslitutc of Chartcrcd Accountants in England and Wales, which is one of the listed bodies. I hai'e completed my ex(unination. I confirin that no tn(Itters have come to my (Itteiition in connection with the examination giving me Lause to believe-. accounling records were not kept in respect of the Company as required by Section 386 ot Ihe 2006 Acr. or Ihe accounts do not accord with those records- or the accounts do not comply with the accounting requireinents 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 coiisidered as part of an independent examination; or the accounts have not been prepared iii accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charilies (applicabl¢ to charities preparing their accounts in accordance wilh the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)). I hai'e no concernb and have come across no oiher mallers in connection with the examination to which attention should be drawn in Ihis report in order lo enable a proper undersianding of the accounts to be reached. Nicola Joyce ACA The Inslilute ot'chartered Accountants in England and Wales Warr & Co Limited Chartered Accountants Myiisl)ull House 78 Churcligate StQLk-pvi'l Cheshire SKI IYJ 12 May 202.5 Page 6
The Daca o Music Foundation Limlted Statement of FinanLial Activities oratin(v an Income and Lx enditure Aecount} for the l'ear Eiidc,d ust 2024 Tncor IAU 31.8.24 Total funds 31.8.2.3 Total tunds Unrestricted fund Restricted fuiid Income and endowments from Donations and legaLie 9,645 8,800 18,445 3,139 Charilable aetlvities Music Ceiitre Schools Programines Projecls Accredilalion 143.729 166,689 l8,764 938 143,329 166,689 18,764 938 148,112 167.554 40.211 348 Other incoine Total 238 359.602 339,-165 .148,165 Expendlture on Charitable aclivities Music C'entre Schools Programmes Projects Total 201,719 J52,539 20..130 374.5118 201,719 152,539 167.670 172,292 22,733 362,695 .1,94 3711528 Ncl ¥ains on invc5ttncnts NET INCOIIqEI(EXPELNDITURE) Other recoRnised Ralnsl(losses) Gaiiis on I'Lvtsludlion of fixLd assets Net movement in funds (267) 4,860 4,593 13,093) 4,860 8,723 (3,093) Reconciliation of funds Total tunds brought forward 2,169 6,135 8,304 11.397 Tot81 funds ¢arrled forward The notes fonn part of these financial stateTnents Page 7
The Daea o MusSe Foundation Llmited istered number: 06698862 BalanLe Sheet ust 2U24 31.8.24 Total funds 31.8.23 Total funds Unr¥striclcd fund Rcstrictcd fund Notes Fixed assets Tangible assety Investments 53,939 53,939 15,240 io 53,944 53,944 15,245 Current assets Debiors Cash al bank 16,614 16,614 12.634 16,614 10,995 27,609 34.238 Creditors Ainount% fallinx due within one year 12 (60,420) (60,420) (32.101) Net eurrent assets 43 806) 32 811) Total assets less current Iiydbilities 10,138 10,995 21,133 17,382 Credltors Amounts falling due after more than one year 13 (4,106) (4,106) (9,078) NET ASSETS Funds Ui)resti'icted funds Reslricled fund. Total tunds 15 6,032 2,16() f).135 Th¢ charitable ColnPEY is entitled to exemplioii froin audit uiider Section 477 of th¢ Coinpanie8 Act 2006 for the year ended 31 August 2024. The Im¢mbers have not r¢quir¢d the coinpany to obtain an audit of its tinancial statemenis for the year ended 31 August 2024 in accordance with Section 476 of the Companies Act 200(?. The notes fonn part of these financial stateTnents Page 8 continued...
The Daea o MusSe Foundation Llmited istered number: 06698862 BalanLe Sheet - Lvlltinued ust 2024 The trustees acknowledge their responsibilities for (a) cnsuring that Ihc charitablc company kccps accounting rccords that comply with Scctions 386 and 387 of thc Companies Act 2006 and preparing financial stalements 'hICh give a true and fair view ot" the state of affairs of the charitable company as al the end of e£ich financial ye(Ir and of its surplu% or deficit for each finaiicial year in accordance with the requirement% of Sections 394 and 39> and whiLh otherwise comply with ihe requirementb of the Coinpanies Act 2006 relating to financial statements, so far as applicable to the charitable company. (b) These financial statements have been prepared in accordance with the provisionq applicable 10 charitable companies subject to th¢ tsrnall Companie5 regime. The financial slalemenls were approved by the Board of Truslees and authorised for issue on 30 April 2025 and were signed on ilb belialf by.. .[ P Mcclelland - Trustee The notes fonn part of these financial stateTnents Page 9
The Daca o Music Foundation Limlted Notes lo the Finanlidl Statenients tor the Year Lnded 31 Au ust 2024 Statutory informalion The Dacapo Nlusic Foundation LiTTlit¢d is a private charitable company. limited by guaralltec and registered in England and Wales. The address of the registered office is showii on the charity inlorniatioi) on page one of these rjnancial %tatement.%. The nature of the cliarity's operations are detailed in the Tru%tees Report. Accounting policies Basls ol'preparing the liThancial statements The financial statement¥ 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 Chai'ities.. Statement of Recommended Practice applicable to eharities preparing their accoiints in accordance with the Financial Reporting Standard applicable in the UK and Republic ot Ireland {FRS 10?) letTective l January 20191,, Financial Reporliiig Standard 102 'The Fillancial Reporting Standard applicable in the UK and Republic of Ireland, and the Companies Act 2006. The fjnancial statements have been prepared under the historical cost convenlion, with the exception of investments which are included at market value, modified by the revaluation of Lertain assets. The financial statemenls are presented in sterling, which is the functioiial currency of the chariiable company. All ainounls stated are rounded to th¢ nearest L l . Crltlcal aLLounllng Judgements and key suurLes uf estlmatlon unLertV41nty ALLouiiliiiuy estimates and j udgements are continually evalu<iied and are based on historical experience and In th¥ appliciition ot. tlic company'b accoiinting pc)li¢ics, thc rrustccs and dircctors are rcqiiircd to makc .jiidgcirJcnts. estimates aiid assuiiipiions about carrying amount of assets ai)d liabililies Ihat are not readily api)arenl from ollier soiirces. The estimates and associated assumptions are based on historic.al experience 3nd other factors that are. considered to be relevallt. Actual re.sults may differ froin these estimates. The estimates and underlying assiimptions are reliewed on an ongoing basib. Revisions lo accoiinting estimates are recognised iii the period in wliicli the estiinale is revised where tlie revisioti atfects only tliat period, or iti tlie period of th¢ reviqion and future periods where the revision affects both current 8nd future periods. Taiigibl¢ fixed assetq have hi%t()ricallv been %iat¢d at cost less accumulaiLd dcprecialion dnd accumulated impainnent losses. Management have used their expectation ot. the esliinated usetul lives Ot. each LaleoTrOry Ot" assets iii oI'dei' lo cijsui'r tli¢ appi'opI"ialc pl'ovisioii is iiiadr t'oi. drpi'rLialioii. Dclails of tlie ¢sliiiiatcd 115ct.ul livcs al'c iiolrd in the accounting policies and the depreciation provision is stated in the notes to the accouiils. 7rIllg the year the truqtees recogllised thai a number of invsical inslruTMenls were recogni.sed at less than current valiialion and have undenaken ¢1 review of all instrmentS which have beeLI revalued during the year based on the trustees assessment of tair value. Incorne All income is recognised in the Statement of Financial Activities once the charity has ¢ntitleinent to the funds. it is probable thdt the income will be received aiid the atnoullt can be measured relidbly. Page 10 continued...
The Daca o Music Foundation Limlted NDtes to the FinanLial Slatements - Lvnfinued tor the Year Lnded 31 Au ust 2024 Accounting policies- continued Inco]ne Donations are recognised when the charity has received writteii iiotif)ed of tlie amounts and the setilement date. If conditions (Ire attached to the don£ition th(It require (I level of perforiiiaiiee before entitlement Ciin be obtained tlien inLome is defei'red unlil those Londitions hawe been imet or fuifilment of those Londitions is within ihe Lontrol of the charity and it is probable they will be fulfilled. The charity benefits froim the involvement and support of volunteers. The economic contribution ot this qupport iq not recognised in the accouiits. Fixed asset gitls in kind are recognised when receivable and re included at fair value. Incorne 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 lo raise funds and is reLognised wheii eiititlement has occurred. Expenditure Liabilities are recognised as expenditure as soon as there is a legal or constructive obligalion committing the charity to thal exp¢ndittire, it is probable ihat a transfer of ¢conoinic benefits will be reqiiired in settlement and the amouiit of the obligdtion Lan be measured reliably. Expenditure is dLLounteLI for on an dLLruals bdsis and hab been Llassified under headings thai aggregate all cost related lo the category. Where costs cai)not be directly attributed lo parlicular headings they have been allocated ID activities on a basis consistent witli the use of re%oiirces. Expeiiditure oti cliaritable activities Lomprises tl)ose Losts incui'red by the chai'ity iii ilie delivery of ils activitie5 atid services to beneticiaries. It includes both costs allocated directly to such activities and those costs of an indirect nature necessary to support them. Support costs are tliose that assisi the work of the rharily but do not directly represent charitable activities and ineludc office cost8, governance costs and administrative payroll costs. They are inLurred directly in support ot expenditure on the objects ot" 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. Txnglhle tlxed asqetq TangTrible fixed assels are reviewed annually and included al their fair value less accuinulaled deprecialion and accumulatcd impairment losses. Depreciation is provid¢d at lh¢ following annual rates in order to write off cach asset over its ebtimat¢d useful life. Fixtures aiid fittings 250/0 reducing balance Taxalion The charity is exempt from cooration tax on its charitable activities. Fund accounting Unrestricted tunds can be used in accordance with the charitable objectives at the discretion of the trustees. Pagell continued...
The Daca o Music Foundation Limlted NDtes to the FinanLial Slatements - Lvnfinued tor the Year Lnded 31 Au ust 2024 Accounting policies- continued Fund accounting Restricted funds can only be used for particular restricted purposes within the objects of the charity. Reslrictioiis (iri%e ivhen %pecified by the doiior or when fuIid5 rai4ed for particular restricted purpose4. Further explanation of the nature and purpose of each fund is included in the notes to the financial statements. Pension costs and other post-retirement benefits The cliaritable company operate% a defined oontribution pensioii scheine. Contribution% payable to the charitabl¢ conipany's pension scheme are charged to the Siateinenl of Financial Activities in the period to which they relale. Financial iiistruments The charity h liiiancial assets and financial liabil ities of a kind that qualify as basic financial instruments, These are iiiitially recognised at transaction value and subsequently mea,sured at their settlernent value. Going concern The fLnancial staleinents have been prepared on a going concern basis as the trustees believe that no material un¥erlainties exist. The trusle¢s have considered Ihe level ol. funds held and the expected level of income and expenditure for a period of12 months froin the dale of approval of these financial stateineiiis. Th¢ biidget¢d income and expenditure is bufficient with the level of reserves the support of a b(Ink overdraft fdLility fur the Lhurity ro be able to continue as a goiiig conceni. Charitable activities costs Siipport costs lyee iiote 4) Direct Costs Totals Music Centre Schools Programmes Projects 119,036 90,015 82,683 201,719 152,539 24,270 378 528 223 372 155 1$6 Page 12 continued...
The Daca o Music Foundation Limlted NDtes to the FinanLial Slatements - Lvnfinued tor the Year Lnded 31 Au ust 2024 Support costs Govcrnancc costs Manag¢m¢nl Totals Music Centre Schools Programmes Projects 68,462 51,767 14.221 10,757 82,6t13 62,524 128 466 155 156 et income/(expenditure) Nel incom¢l(exp¢nditure) is stated after charginglicrediling).. 31.8.24 31.8.23 Depreciation - owned assets Surplus on disposal of fixed assets Reinuneration reLeivable by the L,h<irity's indepei)dent examiner in respect of.. Examinatioii of tlie accounts Oiher services provided 4.346 4,328 {238) 1.140 Trustees, remuneration And benefits There were no trustee.s' remuneration or other benefits for the year ended 31 August 2024 nor for the vear elided 31 August 2023. Trustees, expenses There were no trustees, expenses paid for the year ei)ded 31 August 2024 nor fur the sear ended 31 August 2023. Staff costs .11.¥.24 Wages and salllries Other pension costs 93,763 40,190 The average monthly number of employees duriiig the year was as follows: 31.8.24 31.8.23 Administration of the charity No eTnploy¢es received einolumenls in excess of £'60,000. Page 13 continued...
The Daca o Music Foundation Limlted NDtes to the FinanLial Slatements - Lvnfinued tor the Year Lnded 31 Au ust 2024 Comparatives for the statement of financial activities Unrcstrictcd fund Rcstrictcd fund Total funds Income and endowments from Donalioiis and legacies 139 3,000 3,139 Charitable activities Mu%ic Celllre School.% Programiii¢ Projects Accreditation 148,112 167,554 40.211 348 148.112 167,554 40,211 348 Other income Total 238 356,6(17 238 359 6(12 3,000 Expenditure on Charitable activllles Music Cenli'e Schc)ols Programmes Projects Total 167.670 172.292 16,018 355,980 167.670 172.292 6,715 362 695 NET INCOMEI(EXPENDITURE) 622 (3,715) (3,093) Reconciliation of funds Total funds broughi torward 1.547 9.850 11.397 Total funds carrled torward 6.135 Page 14 continued...
The Daca o Music Foundation Limlted NDtes to the FinanLial Slatements - Lvnfinued tor the Year Lnded 31 Au ust 2024 Tvdngible fixed assets Fixturcs, fittings & equipinent Cost or valuation At I September 2023 Additions Revalualion At _I l Aijgust 2024 Depreciation Ai I September 20?3 Charge for year Revdlualion adjustments Ai I l August ?024 Net book value Ai 31 August 2024 Ai 31 Augyusl 2023 62,968 3,959 47.728 4,346 -14.956) Cost or valualiDn at.I l August 2024 is represented by: Fixtures, riltings equipiiieiit Valuation in 2024 Cosl 4,130 66,927 10. Flxed asset Investmenls Shares in group undertakings Market value At I ScptLtnbcr 2023 and 31 Augiist 2024 Net botsk value Al 31 Augusl 2024 Al 31 August ?023 Page IS continued...
The Daca o Music Foundation Limlted NDtes to the FinanLial Slatements - Lvnfinued tor the Year Lnded 31 Au ust 2024 io. Fixed &sset investments - continued There were no investinent assets outside the UK. 11. Debtors: amounts falling due within one vear 31.8.24 31.8.23 Trade debtorq Oiher debtors Prepayinenis and aLLrued iiicome 12,072 2,478 9,058 2,060 1.516 12. Creditors: ajnounts falling due within one >ear 31,8.23 Bank loans and overdraft5 (See note 14) Trade creditors Social security and other taxes Oiher creditors Accrued expeiises 26,i64 14,778 7,9114 3,892 5,000 14,560 1,048 4,3n7 13. Creditors: amounts falling due after more than one year 31.8.24 .31.8.23 Bank loans (see note 14) 14. Lnan5 An analysis of the maturity of loans is given below.. 31.8.24 31.8.23 Amouiits falling due within one year on deinand: Bank overdrafis Bank loan% 21,564 5,000 Amoiints falling between one and two years: Bank loans- 1-2 years Page 16 continued...
The Daca o Music Foundation Limlted NDtes to the FinanLial Slatements - Lvnfinued tor the Year Lnded 31 Au ust 2024 15. Movement in funds Nct movement in funds Al 31.8.24 At 1.9.23 Unrestricted funds General fund 2,169 3,863 6,032 Restrleted funds Reslricled Fiind 6,135 4,860 10,995 TOTAL FUNDS Net movement in funds, included in the above are as follows: Incoming resources Resources expended Gains and losses Movement iii funds Unrestricted funds General fund 339,365 (374,588) 39,086 3,863 Restricted funds RustriLtLd Fund 8,800 (3,940) 4,860 TOTAL FUNDS 348 165 378 528 Comparydtives for moTremenl in funds Net movement in funds At 31.8.23 At 1.9.22 Unrestricted ftunds General fund 1,547 622 2,169 Restricted funds ReslriLled Fund 9,850 (3,715) 6,135 TOTAL FUNDS Page 17 continued...
The Daca o Music Foundation Limlted NDtes to the FinanLial Slatements - Lvnfinued tor the Year Lnded 31 Au ust 2024 15. Movement in funds- continued Comparativc net mowem¢nl in funds, included in the above are as follows- Incoiniiig resources Resources expended Movemei)t in fuiids Unrestricted funds Geiier(Il fund 356,602 (355,980) Restrieled funds Restricted Fund 3.000 (6.715) (3.715) TOTAL FUNDS 359 602 362 695) A current year12 months and prior year 12 months combined position is as follows.. Net movement in fiinds At .31.8.24 At 1.9.22 Unrestricted funds General fund 1,547 4,485 6,032 Restrieted funds Restricted Fulld 9.850 1.145 10,995 TOTAL FUNDS A curreiit year 12 Inunlhs and prior year 12 niunihs combined net muvement in funds, included in the ()bove are as follows.. Incoming resources Resources expended Gains and losses Movement in funds Unrestricted funds General fund 69£,967 (730,568) 39,086 4,485 Restricted funds Restricted Fund 11,800 (10,655) 1,145 TOTAL FUNDS 701767 741223) Funds held al the balance sheet date are analysed between unrestricted and reslricled funds as detailed below. Page 18 continued...
The Daca o Music Foundation Limlted NDtes to the FinanLial Slatements - Lvnfinued tor the Year Lnded 31 Au ust 2024 15. Movement in funds- continued Ullrestricted funds - this fund compris¢s general unrestricted funds available tor use as deterniined by th¢ tTuslees in furtherance of the chariiy's objectives. Restricted funds this fund iiicludes grants and doiiations reLeived where the donor has speLified the *peCIfiC puryose to which the tunds are applied. It includes L)rants amounting to £8,800 received from Golsoncoti Foundation, Kirby Laing Foundalion, D'oyly Carle Foundalion and The Helen Hamlyn Trusl comprising .L.3,500 in respect of oiir'Aft¢TllOOli of Music and Pupp¢ts' PToject, £3,500 to our 'Ready to Siii¥' proj¢ct and £1,800 to aid our Bursary Sub4idy. 16. Related party dfiselosures The sum of £1,990 (20?3 £2,060) was owed to the charity by Dacapo Primary Music Liinited. a company in which the charity holds shares and in which both M CJroves and J Cutl¢r have an interest by way of being directors and shareholders. M Groves was owed the sum of £488, which was repaid at.ler ihe year eiid. The children of trustees, D Spreadbury, S Sreedher and H Ding hav¢ all received lessons via class¢s from Dacapo Muyic Foundaiion Limired. All ivere Pdid for ilt the standard rate. A sum of £500 was paid to Sarali Laurcn Photos during tli¢ ycar, this is a busincss opcratLd by thc wifc ot'trustcc D Spreadbury. Tru4tees M A Healy, J P Mccelland aiid G Colella received classey from Dacdpo Music Found<ltion Limited. All were paid at the standard rate. Page 19
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