## _**Report and Financial Statements**_
## _**of Changing Tunes**_
## _**For the year ended 31 December 2023**_
**Charity No. 1144789 Company No. 07791242**
**CHANGING TUNES**
## **FINANCIAL STATEMENTS YEAR ENDED 31 DECEMBER 2023**
|**Contents**|**Page**|
|---|---|
|Reference and administrative information|2 - 3|
|Trustees’ Annual Report|4 - 12|
|Independent Examiner’s Report|13|
|Statement of Financial Activities|14|
|Balance Sheet|15|
|Statement of Cash Flows|16|
|Notes to the Financial Statements|17 – 27|
1
**CHANGING TUNES**
## **REFERENCE AND ADMINISTRATIVE INFORMATION YEAR ENDED 31 DECEMBER 2023**
## **Patron**
Jonathan James
## **Founder and Patron**
Dr Richard Pendlebury FRSA MBE DL
## **Trustees**
Andrew Wood BSc ACA (Chairman) Richard Sayer BA Hons, BSocSci Hons Paula Harriott James Thorne Cameron Harper (Joined September 2023)
HHJ Michael Cullum James Rimmer MSc BSc Jonathan James PhD, PGCE, ALCM (Resigned July 2023) Suzy Dymond-White (Joined July 2023) Giulia Balzan (Joined January 2024)
## **Key management personnel**
Chief Executive
David Jones
## **Other staff**
Musical Director Gareth Hamer Fundraising Manager Rea Mole Office Manager Lindsay Sellors-Moore Business Development Manager Dave Perryman Volunteer Finance Manager Alison Edmonds Administrator Mike Somorjay Senior Musician in Residence Simon Torrance Senior Musician in Residence David Cefai Senior Musician in Residence Mike Griffiths Senior Musician in Residence Isie Potter Senior Musician in Residence Matt Newell Musician in Residence David Fugler Musician in Residence Stuart Heath Musician in Residence Shelly Quarmby Musician in Residence Tehilla Nolan Musician in Residence Matt Hovenden Musician in Residence David Luft Musician in Residence Jordan Woollgar Musician in Residence David Lindsay Musician in Residence Jane Lings Musician in Residence Jake Williams Musician in Residence Nathaniel Leacock Musician in Residence Toby Carpenter Record Label Manager Ryan Kershaw
## **Independent Examiner**
Joshua Kingston BSc. ACA, Burton Sweet Limited, The Clock Tower, 5 Farleigh Court, Old Weston Road, Flax Bourton, Bristol BS48 1UR
2
**CHANGING TUNES**
## **REFERENCE AND ADMINISTRATIVE INFORMATION YEAR ENDED 31 DECEMBER 2023**
## **Bankers**
Lloyds TSB, 317 Gloucester Road, Bristol, BS7 8PG Virgin Bank, Jubilee House, Gosforth, NE3 4PL
**Office:** PO Box 2646, Bristol, BS6 9BU
**Telephone** : 0844 414 6083 | **Email** : info@changingtunes.org.uk | **Website** : www.changingtunes.org.uk
3
## **CHANGING TUNES TRUSTEES’ ANNUAL REPORT YEAR ENDED 31 DECEMBER 2023**
The Trustees present their report and the financial statements which have been independently examined for the year ended 31 December 2023.
## **Structure, governance, and management**
## **Charitable Status**
Changing Tunes is a company limited by guarantee (number 07791242) which was incorporated on 29 September 2011. It attained registered charity status with the Charity Commission of England and Wales (number 1144789) on 24 November 2011.
This charity was set up to take over the activities of an existing unincorporated charity of the same name, which was founded in 1997 as part of the work of the Bristol Chaplaincy, established as an Association with a Constitution on 2 February 2000, and granted charitable status on 2 March 2000 (charity number 1079673). As such, the assets and funds of the unincorporated charity were donated to this charity on 31 December 2011.
## **The Charitable Objects**
The object for which the Charity is established is as follows:
**The advancement of education of prisoners and ex-prisoners in all forms of music and the performing arts with a view to aiding their rehabilitation and to further their rehabilitation by whatever means the trustees may from time to time decide.**
The charity uses the medium of music to build a trusting relationship with those it works with, inside prisons, aiming to continue that supportive relationship, on release, where possible, with the objective of reducing substantially the risk of re-offending.
## **Trustees**
The charity’s trustees meet at least four times a year to discuss and review the progress and development of the charity, and are kept up-to-date, between meetings, by email. Where a requirement for a new trustee is identified, suitable individuals are identified and approved and appointed by the remaining trustees. The Chairman of Trustees is responsible for the induction of any new trustee. New trustees have to gain an awareness of trustees’ responsibilities, the governing document, administrative procedures, and the history and philosophy of the charity.
The board is fortunate in being well represented in many areas and skillsets and new appointments to the board, as happened in 2023, are always made to address gaps or to add skillsets and experience to those not already represented. It is very important to the board to have a representative of those with lived experience in prison on our board.
Trustees will take advice from advisors, principally the charity’s Independent Examiner, Burton Sweet, which is an expert in all relevant charity matters, but also through the trustees’ own professional networks, where these are of use.
4
**CHANGING TUNES**
## **TRUSTEES’ ANNUAL REPORT YEAR ENDED 31 DECEMBER 2023**
## **Delegation to Management**
The charity trustees delegate the responsibility of running the charity, day-to-day, to the Chief Executive and his senior management team. However, matters like annual pay reviews and areas of new activity, are put forward to trustee meetings, debated, and approved.
## **Risk Management**
The trustees have reviewed the major risks, and consider these major risks at each of its meetings during the course of the year, and there are systems in place to manage those risks. In addition, the board can be convened at any point, if a major issue is highlighted by the CEO to the Chair of Trustees.
Inevitably continued funding, to ensure continuation of services and employment is a constant challenge, but the trustees review quarterly management accounts, any re-forecasts for the year, as needed, and fundraising applications and successes, at each of its trustee meetings.
5
**CHANGING TUNES TRUSTEES’ ANNUAL REPORT YEAR ENDED 31 DECEMBER 2023**
## **With Thanks**
We would like to thank all those who have supported the Charity this year including:
Joyce Fletcher Charitable Trust
AB Charitable Trust
Armourers and Brasiers' Gauntlet Trust Austin Bailey Foundation Bromley Trust Burden Trust David Family Foundation D’Oyly Carte Charitable Trust Eleanor Rathbone Trust Finzi Trust Fitton Trust Fulmer Charitable Trust Garrod Family Trust Gilbert Lane Charitable Trust Goldcrest Charitable Trust Greene Charitable Settlement Grimmitt Trust Harold Hyam Wingate Foundation Harrison-Frank Family Foundation Heathcoat-Amory Charitable Trust Hedley Foundation Henry Smith Charity Jerusalem Trust John Rayner Charitable Trust John Thaw Foundation
Leeward Charity Trust Lightbulb Trust Lions Club of Devizes Lloyds Bank Foundation MacFarlane Walker Trust
National Lottery Community Fund (Leaders with Lived Experience Programme)
Newby Trust
Noel Buxton Trust
Norman Family Charitable Trust
Norton Foundation
Oakdale Trust
Orr Mackintosh Foundation
Parivar Trust Patricia Routledge Foundation
Patrick Trust
Quartet Community Foundation
SJP Foundation Souter Charitable Trust Three Oaks Trust W F Southall Trust Walter Guinness Charitable Trust Youth Music
_We are also grateful to every individual who donated to Changing Tunes_
6
**CHANGING TUNES**
**TRUSTEES’ ANNUAL REPORT YEAR ENDED 31 DECEMBER 2023**
## **Chairman’s report**
The challenges of continuing operations and fundraising to support those operations is increasingly evident across the charitable sector, where demonstrating the impact of how funding is utilised, to funders and the wider public, is needed more than ever before.
It is testament to Dave Jones and the rest of the team that 2023 proved to be a year where funding was secured to a much greater degree than in 2022. Particular mention must be made of Rea Mole, our principal fundraiser, who has developed a deep understanding of all that the charity does, and its impact, and has the great gift of articulating this story and impact in bids for funding. Strategically, Dave Jones has also, with courage, developed the securing of funding directly from recipient prisons, now achieving 40% of Unrestricted Income in 2023, and we thank Governors for allowing this contribution to services delivered in their establishments.
To have ended 2023 having grown its Unrestricted Reserves over those at December 2022 ends a financially successful year. The charity therefore enters 2024 strongly positioned to continue delivering on and increasing the scope and depth of its service delivery.
Of note at this point, the charity has roughly doubled its income and expenditure over the 4 years since 2019 and, therefore, its impact, delivering services in 21 prison or other secure settings and in post-release activities.
As is always the case, I must thank again all of our office staff and musicians-in-residence, which has continued to be remarkably stable over the years and the strong ethos and teamwork is very evident on the rare occasions the team s assembled together. Nowhere is this team spirit and optimism, and our work, more evident than in our annual concerts, where staff, volunteers, and those we have worked with, both inside and outside prison combine together, seamlessly – you just have to ‘see it, to get it’ and value the impact of all that we do.
Andrew Wood Chairman of Trustees
7
**CHANGING TUNES TRUSTEES’ ANNUAL REPORT YEAR ENDED 31 DECEMBER 2023**
## **Statement of public benefit**
The trustees have complied with their legal duty under the Charities Act to have regard to the public benefit guidance published by the Charity Commission.
## **Chief Executive’s Report**
The last year was dynamic and rewarding. A number of projects that we had been developing for some time took off and as a result we have firmly established ourselves as a provider of services in all three areas of the Criminal Justice System (Preventative, Custodial and Post-release).
The majority of our work is still very much within British prisons and we have achieved an increase in the depth of our work offering a wider range of music access and introducing for the first time choirs to our delivery alongside song-writing, music production, band facilitation, instrument teaching and general music making.
At the end of the year we were delivering an impressive 36½ days/week of music in settings and post-release. This enormous volume of work has enabled us to work with our largest number of participants to date. The quantity of work has not been our only focus, we have been working on the quality of our work too. Work has continued to embed Trauma Informed Practice across the organisation and also to develop what it means to become an Anti-racist organisation.
In 2023 we took the bold decision to relocate our post-release work to a new setting in Bristol. The move has enabled us to grow and diversify our offer which now includes, weekly, monthly and women only sessions as well as a specific session dedicated to people in recovery from alcohol and substance miss-use run in collaboration with the Bristol Drugs Project.
Recording and performance remain a key part of what we do and this we managed to win the highest number of Koestler Awards since 2016 and second best ever! These awards are so important as they recognise the value of the participants’ work and mean a lot to them.
We also put on our first Annual Concert in the Midlands hosted by Knowle Parish Church which was extremely well received and has further expanded our commitment to and support from this part of the UK.
I have been particularly pleased to see financial support rising from our partner prisons. This vital source of income shows the regard with which our work is held. With more of the direct work being funded by prison partners it increasingly allows us to use grant funding for the development and innovation of new work and work in new areas.
## **Overview of 2023 in numbers:**
**----- Start of picture text -----**
2023 2022
Group music sessions delivered 2,444 1,914
Participants worked with 668 549
Audience numbers 2125 598
Recordings sessions 164 78
Koestler Awards received 58 27
**----- End of picture text -----**
8
**CHANGING TUNES TRUSTEES’ ANNUAL REPORT YEAR ENDED 31 DECEMBER 2023**
**----- Start of picture text -----**
2023 Objective Performance
1. Implement
‘Becoming an Anti-
racist organisation’ More work has been done in this area although momentum has slowed.
action plan
2. Implement
Fundraising We over delivered on this year’s original fundraising target enabling us to
Strategy make further contributions to reserves.
3. Improve the
diversification of
incomes sources.
Prison funding exceeded the original planned amount however fell short of
Prison funding to
the 33% target due to growth in other funding areas.
hit 33% of overall
income
4. Instigate Major
Donor Steering
This work has begun with some exciting plans for 2024.
Group
5. Implement
Training Plans for all staff have been implemented and a series of engaging
Training Plan
Team Days was held during the year.
6. Increase frequency Group Supervision has been put on hold due to the challenge of co-
of Group ordinating staff at the same time. However, 1:1 supervision is in place for all
supervision and staff and a formula based approach has been taken for frequency of access
effectiveness has been implemented. This means that staff are accessing supervision
according to needs rather than a one size fits all model.
7. New Website
A brand new website was launched which has already attracted more traffic
developed
and provides a much better user experience.
8. Implement
‘Becoming a
Building on the accreditation achieved in 2022 the Steering Group have
Trauma informed
drawn up a action plan and have been working on delivering the cultural
Organisation’
change aspired to.
action plan
9. Create more As our post-release work has started to grow again we have been finding
performance new stages and places to facilitate performance opportunities for
opportunities for participants. This year in addition to our own Annual Concerts we performed
participants at the Recovery Festival and Bognorphenia Festival.
10. Begin work in 3 In the last years successfully won new contracts to start working in HMPs
new prisons Dartmoor and Stocken. In addition, we restarted working in HMP Stafford.
**----- End of picture text -----**
9
**CHANGING TUNES**
## **TRUSTEES’ ANNUAL REPORT YEAR ENDED 31 DECEMBER 2023**
|**2023 Objective**|**Performance**|
|---|---|
|||
|11. Review risk
management
processes|We conducted a review of how we safely manage risk in our Post-release
work. We have made some small improvements to our practice.|
## **Fundraising and Communications**
We have had a focus on increasing our following on social media as part of a strategy to raise awareness of our work across a wider demographic. The impact of that is beginning to be felt with audiences at our concerts reflecting people who are new to Changing Tunes.
We surpassed our income target for 2023 and brought in some highly valuable multi-year funding commitments for core costs. We have invested in how we document the work of the charity particularly through film and image meaning people can begin to get a sense of the work inside prison which has previously been difficult.
## **Financial Review**
Income in 2023 was £627,471, compared to £502,966 in 2022, of which 76.6% was Unrestricted Funds and expenditure was £561,879. This resulted in an increase in our reserves to £285,570.
The reserves policy of the charity prescribes maintaining a balance of six months’ expenditure. This equates to reserves of £281,000 and, at the year-end, unrestricted reserves were £198,985, which is still short of the target policy amount. No funds, whether restricted or unrestricted, were in deficit at the year-end.
## **Plans for the next 12 months**
Our priority for 2024 is to ensure that Changing Tunes remains relevant in the Criminal Justice space. Our 37 years of presence in British jails provides up with a huge amount of knowledge and expertise but it is imperative that we continue to offer what is wanted and needed by our partners and participants. We also have an obligation to innovate and develop new music-based services that will support the needs of those caught up in the Criminal Justice System.
10
**CHANGING TUNES TRUSTEES’ ANNUAL REPORT YEAR ENDED 31 DECEMBER 2023**
Develop Communication Strategy Secure funding from remaining prisons HMPs Drake Hall, Exeter, Winchester, Eastwood Park, Swansea, Leyhill and Ford. Implement Fundraising Strategy Improve the diversification of incomes sources. Target prison funding to hit 41% of overall income Implement High Net Worth Individuals Strategy Implement Becoming Trauma Informed Action Plan Implement Becoming an Anti-racist organisation Action plan Create more performance opportunities for participants (Open Mics, Small concert, Large concert) Begin work in 3 New Prisons Develop Birmingham based rap focussed post-release offer Project Lead for Post-release to review transitions to PR with a view to increasing numbers Explore the linking of RTR to a major label Implement Training Plan Move towards sustainable jobs for staff of a minimum of 2.5 days, including a mix of in Prison and PR work Increase number of staff with paid Planning, Preparation and Assessment (PPA) time
11
**CHANGING TUNES**
## **TRUSTEES’ ANNUAL REPORT YEAR ENDED 31 DECEMBER 2023**
## **Statement of Trustees’ responsibilities**
The trustees (who are also directors of Changing Tunes for the purposes of company law) are responsible for preparing the Trustees’ Report (incorporating the strategic report and directors’ report) and the financial statements in accordance with applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102: _The Financial Reporting Standard applicable in the UK and Republic of Ireland_ (United Kingdom Accepted Accounting Practice).
Company law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and of the income and expenditure, of the charitable company for that period. In preparing these financial statements, the trustees are required to:
- select suitable accounting policies and then apply them consistently;
- observe the methods and principles in the Charities SORP;
- make judgments and accounting estimates that are reasonable and prudent;
- state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business.
The trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
## **Signed by order of the Trustees**
Andrew Wood, Chairman
Date: 23 April 2024
12
**CHANGING TUNES**
## **INDEPENDENT EXAMINER’S REPORT YEAR ENDED 31 DECEMBER 2023**
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 December 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 the Company’s gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I 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:
- accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or
- the accounts do not accord with those records; or
- 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
- 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.
Joshua Kingston BSc. ACA Burton Sweet Limited The Clock Tower 5 Farleigh Court Old Weston Road Flax Bourton Bristol BS48 1UR
Date: 23 April 2024
13
## **CHANGING TUNES**
## **STATEMENT OF FINANCIAL ACTIVITIES (INCLUDING INCOME AND EXPENDITURE ACCOUNT)**
## **YEAR ENDED 31 DECEMBER 2023**
|**Note**
**Income from:**
Donations and legacies
**2**
Charitable activities
Prison Post-Release Work
Other trading activities
Investment income
**Total income**
**Expenditure on:**
Raising funds
**3**
Charitable activities
**4**
**Total expenditure**
**6**
**Total funds at start of year**
**15**
**Total funds at end of year**
**15**
**Net income / (expenditure) and net**
**movement in funds**|**Unrestricted**
**Funds**
**£**
280,841
195,784
2,719
1,336
480,680
59,189
344,285
403,474
77,206
121,779
198,985|**Restricted**
**Funds**
**£**
146,791
-
-
-
146,791
-
158,405
158,405
(11,614)
98,199
86,585|**Total Funds**
**2023**
**£**
427,632
195,784
2,719
1,336
627,471
59,189
502,690
561,879
65,592
219,978
285,570|Total Funds
2022
£
327,216
174,892
858
-
502,966
53,254
488,284
541,538
(38,572)
258,550
219,978|
|---|---|---|---|---|
The Charity has no recognised gains or losses other than the results for the year as set out above.
All of the activities of the charity are classed as continuing.
**The notes on pages 17 to 27 form part of these financial statements See note 9 for fund-accounting comparative figures**
14
## **CHANGING TUNES**
## **BALANCE SHEET**
**AS AT 31 DECEMBER 2023**
**Company number: 07791242**
|**Note**
**Fixed assets**
Tangible assets
**10**
**Current assets**
Debtors
**11**
Cash at bank and in hand
**Liabilities**
Creditors : amounts falling
due within one year
**12**
**Net current assets**
**Total net assets**
**FUNDS**
**Unrestricted funds**
General funds
**16**
Designated funds
**16**
**Restricted funds**
**16**
**Total funds**|**2023**
**£**
4,494
41,428
256,154
297,582
(16,506)
281,076
285,570
194,491
4,494
86,585
285,570|2022
£
4,624
18,819
202,958
221,777
(6,423)
215,354
219,978
117,155
4,624
98,199
219,978|
|---|---|---|
For the year ended 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
## Directors' responsibilities:
The members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476.
The directors acknowledge their responsibilities for complying with requirements of the Act with respect to accounting records and the preparation of the accounts.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
The financial statements were approved by the trustees on 23 April 2024 and signed on their behalf by:
…............................... Andrew Wood Chairman of Trustees
**The notes on pages 17 to 27 form part of these financial statements**
15
## **CHANGING TUNES**
## **CASH FLOW STATEMENT**
## **YEAR ENDED 31 DECEMBER 2023**
|**Note**
**13**
**Non-operational cash flows:**
**Investing activities**
Fixed asset additions
Investment income
**Net cash inflow / (outflow) for the year**
**14**
**Net cash inflow / (outflow) from operating**
**activities**|**2023**
**£**
54,193
(2,333)
1,336
(997)
53,196|2022
£
(40,302)
(1,788)
-
(1,788)
(42,090)|
|---|---|---|
## **Cashflow Restrictions**
Charity law prohibits the use of net cash inflows on any endowed or other restricted fund to offset net cash outflows on any fund outside its own objects, except on special authority. In practice, this restriction has not had any effect on cash flows for the year.
**The notes on pages 17 to 27 form part of these financial statements**
16
**CHANGING TUNES**
## **NOTES TO THE FINANCIAL STATEMENTS**
## **YEAR ENDED 31 DECEMBER 2023**
## **1 Accounting policies**
## **Accounting convention**
The financial statements have been prepared in accordance with the historical cost convention (except where otherwise stated in the accounting policy note) and in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) issued in October 2019, and the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102), and the Companies Act 2006.
The charity is a public benefit entity as defined under FRS102. The Trustees consider that there are no material uncertainties affecting the ability of the charity to continue as a going concern.
## **Income**
Income from donations is included in income when these are receivable, except as follows:
I. When donors specify that donations given to the charity must be used in future accounting periods, the income is deferred until those periods;
II. When donors impose conditions which have to be fulfilled before the charity becomes entitled to use such income, the income is deferred until the pre-conditions have been met.
Investment income is included on a receivable basis.
## **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 settlement will be required and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accrual basis, inclusive of any VAT which cannot be recovered.
## _**Raising funds**_
Raising funds expenditure include those costs incurred in seeking voluntary contributions, costs of goods sold and other costs which include the costs of running and participating in fundraising events and collections and cost of goods purchased for resale.
## _**Charitable Activities**_
Grants awarded are treated as expenditure and a liability in the accounts as soon as they become legal or constructive obligations. In the case of multi-year grant awards, the funding for all years is immediately recognised unless there are conditions which need to be met by the recipient to enable the release of subsequent years’ funding.
## _**Governance costs**_
Governance costs include those costs associated with meeting the constitutional and statutory requirements of the charity and include the audit fees and costs linked to the strategic management of the charity. Governance costs are included within support costs.
17
**CHANGING TUNES**
**NOTES TO THE FINANCIAL STATEMENTS**
## **YEAR ENDED 31 DECEMBER 2023**
- **1 Accounting policies** _**(continued)**_
## **Tangible fixed assets**
Fixed assets are stated at cost with purchases of £500 or greater being capitalised. Depreciation is calculated so as to write off the cost of fixed assets over the useful life as follows:
Music equipment 25% reducing balance Office equipment 25% straight line
## **Debtors**
Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.
## **Bank**
Cash at bank and cash in hand includes cash and short term highly liquid investments with short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.
## **Creditors**
Creditors are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors are normally recognised at their settlement amount after allowing for any trade discounts due.
## **Fund accounting**
Unrestricted funds can be used in accordance with the charitable objects at the discretion of the trustees.
Designated funds form part of unrestricted funds and have been identified as being for particular purposes by the Trustees. They are not restricted and can be transferred to general funds at any time 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 note 15 of the financial statements.
18
## **CHANGING TUNES**
## **NOTES TO THE FINANCIAL STATEMENTS**
## **YEAR ENDED 31 DECEMBER 2023**
## **2 Income from: Donations and legacies**
|Individual gifts
Church gifts
Grants received
**Prior year comparative**
**Restated**
Individual gifts
Church gifts
Grants received
**Expenditure on: Raising funds**
Fundraising staff costs
Travel costs
Website costs|**Unrestricted**
**Funds**
**£**
41,467
4,175
235,199
280,841
**Unrestricted**
**Funds**
**£**
42,654
4,357
159,328
206,339|**Restricted**
**Funds**
**£**
-
-
146,791
146,791
**Restricted**
**Funds**
**£**
400
-
120,477
120,877
**Total**
**2023**
**£**
50,394
444
8,351
59,189|**Total Funds**
**2023**
**£**
41,467
4,175
381,990
427,632
Total Funds
2022
£
43,054
4,357
279,805
327,216
Total
2022
£
47,277
455
5,522
53,254|
|---|---|---|---|
## **3 Expenditure on: Raising funds**
19
## **CHANGING TUNES**
## **NOTES TO THE FINANCIAL STATEMENTS**
## **YEAR ENDED 31 DECEMBER 2023**
## **4 Expenditure on: Charitable activities**
|Prison Post-Release Work
Prison Post-Release Work
**Support Costs**
Management & admin costs
Equipment
Travel and subsistence
Training
Merchandise costs
Office costs
Recruitment
Accountancy fees
Publication and printing
Professional fees
Depreciation
Loss on disposal of fixed assets
_Governance costs:_
Independent examiner's fees|**Direct Costs**
**£**
351,175
351,175
**Direct Costs**
**£**
345,994
345,994|**(Note 5)**
**£**
151,515
151,515
**(Note 5)**
**£**
142,290
142,290
**Total**
**2023**
**£**
92,060
3,533
2,820
-
180
26,633
1,847
2,367
6,319
9,651
2,311
152
3,642
151,515
**Support**
**Costs**
**Support**
**Costs**|**Total**
**2023**
**£**
502,690
502,690
**Total**
**2022**
**£**
488,284
488,284
Total
2022
£
87,810
393
2,600
444
-
25,242
814
1,918
6,706
10,796
1,965
134
3,468
142,290|
|---|---|---|---|
## **5 Support Costs**
20
## **CHANGING TUNES**
## **NOTES TO THE FINANCIAL STATEMENTS**
## **YEAR ENDED 31 DECEMBER 2023**
## **6 Net income / (expenditure) for the year**
**----- Start of picture text -----**
|||||
|---|---|---|---|
|2023|2022|
|This is stated after charging:|£|£|
|Independent examiner's fee:|- for independent examination|1,638|1,908|
|- for accounts preparation|2,004|1,560|
|Depreciation|2,311|1,965|
|Loss on disposal of fixed assets|152|134|
**----- End of picture text -----**
The total Trustees' expenses paid during the year was £Nil (2022: £Nil). No Trustee received any remuneration during the current or previous year.
Aggregate donations from Trustees, key management personnel, and other related parties in the year was £4,755 (2022: £4,800).
## **7 Staff costs and numbers**
**----- Start of picture text -----**
||||
|---|---|---|
|2023|2022|
|The aggregate payroll costs were:|£|£|
|Wages & salaries|415,244|371,479|
|Social security costs|29,561|28,199|
|Pension contributions|12,247|11,301|
|457,052|410,979|
**----- End of picture text -----**
The average weekly number of staff during the period, calculated on the basis of headcount, was as follows:
**----- Start of picture text -----**
||||
|---|---|---|
|2023|2022|
|No.|No.|
|Management / Fundraising|5|4|
|Charitable Activities|20|18|
|25|22|
**----- End of picture text -----**
No employee received emoluments of more than £60,000.
The key management personnel comprise of the Trustees, the Chief Executive Officer, the Musical Director, Fundraising Manager and the Office Manager. The total employee benefits of the key management personnel were £160,057 (2022: £156,314).
## **8 Taxation**
The charity is exempt from corporation tax on its charitable activities.
21
## **CHANGING TUNES**
## **NOTES TO THE FINANCIAL STATEMENTS**
## **YEAR ENDED 31 DECEMBER 2023**
## **9 Statement of Financial Activities comparative figures**
|**For the year ended 31 December 2022**
**Restated**
**Income from:**
Donations and legacies
Charitable activities
Prison Post-Release Work
Other trading activities
**Total income**
**Expenditure on:**
Raising funds
Charitable activities
**Total expenditure**
**Net income / (expenditure) for the year**
**and net movement in funds**
**Total funds at start of year**
**Total funds at end of year**
**10 Tangible fixed assets**
**Cost or valuation**
At 1 January 2023
Additions
Disposals
At 31 December 2023
**Depreciation**
At 1 January 2023
Charge for the year
Disposals
At 31 December 2023
**Net book value**
At 31 December 2023
At 31 December 2022|**Unrestricted**
**Funds**
**£**
206,339
174,892
858
382,089
53,254
316,579
369,833
109,523
121,779
**Office**
**Equipment**
**£**
5,089
520
-
5,609
2,285
1,402
-
3,687
1,922
2,804
12,256|**Restricted**
**Funds**
**£**
120,877
-
-
120,877
-
171,705
171,705
149,027
98,199
**Musical**
**Equipment**
**£**
4,173
1,813
(1,015)
4,971
2,353
909
(863)
2,399
2,572
1,820
(50,828)|**Total Funds**
**2022**
**£**
327,216
174,892
858
502,966
53,254
488,284
541,538
258,550
219,978
**Total**
**£**
9,262
2,333
(1,015)
10,580
4,638
2,311
(863)
6,086
4,494
4,624
(38,572)|
|---|---|---|---|
22
## **CHANGING TUNES**
## **NOTES TO THE FINANCIAL STATEMENTS**
## **YEAR ENDED 31 DECEMBER 2023**
## **11 Debtors**
|**Due in less than one year:**
Trade debtors
Prepayments and accrued income
Other debtors
**12 Creditors: amounts falling due within one year**
Other creditors
Accruals and deferred income|**2023**
**£**
7,100
31,141
3,187
41,428
**2023**
**£**
2,410
14,096
16,506|2022
£
3,252
12,847
2,720
18,819
2022
£
2,453
3,970
6,423|
|---|---|---|
## **13 Reconciliation of net movement in funds to net cash inflow from operating activities**
|Statement of Financial Activities: Net movement in funds
Investment income
Depreciation
(Increase) / Decrease in debtors
Increase / (Decrease) in creditors: current liabilities
(Gains) / Losses from sale of fixed assets
**Net cash inflow / (outflow) from operating activities**
**Analysis of changes in cash during the year**
Cash at bank and in hand
Cash at bank and in hand|**2023**
**£**
65,592
(1,336)
2,311
(22,609)
10,083
152
54,193
**2023**
**£**
256,154
**2022**
**£**
202,958|2022
£
202,958
2021
£
245,048|2022
£
(38,572)
-
1,965
(2,278)
(1,551)
134
(40,302)
**Change**
**£**
53,196
**Change**
**£**
(42,090)|
|---|---|---|---|
## **14 Analysis of changes in cash during the year**
23
## **CHANGING TUNES**
## **NOTES TO THE FINANCIAL STATEMENTS**
## **YEAR ENDED 31 DECEMBER 2023**
## **15 Movement in funds**
## **For the year ended 31 December 2023**
|**Restricted funds**
1772 Charity
Anchor Foundation/TFN
Charles Hayward/Young Voices
John James
Lightbulb Trust
NL-Lived Experience/RTR
Rayne Foundation
SJP Foundation
Small Trusts
Swire
Valentines/ Guy Marsh
Walter Guiness/ Erlestoke
Weavers/Drake Hall
Weinstock
Youth Music/RTR YA
**Unrestricted funds**
General funds
Designated funds
**Total funds**|**At 1 Jan**
**2023**
**£**
15,170
-
13,767
4,283
-
-
5,734
-
28,817
16,578
10,515
1,750
1,340
245
-
98,199
117,155
4,624
121,779
219,978|**Income**
**£**
-
7,560
-
-
21,000
46,503
-
7,000
44,410
-
-
700
-
-
19,618
146,791
480,680
-
480,680
627,471|**Expenditure**
**£**
(15,170)
(3,001)
(13,767)
(4,283)
(12,242)
(18,201)
(5,734)
(7,000)
(50,664)
(16,578)
(6,039)
(2,450)
(1,340)
(245)
(1,691)
(158,405)
(401,163)
(2,311)
(403,474)
(561,879)|**Transfers**
**£**
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
(2,181)
2,181
-
-|**At 31 Dec**
**2023**
**£**
-
4,559
-
-
8,758
28,302
-
-
22,563
-
4,476
-
-
-
17,927
86,585
194,491
4,494
198,985
285,570|
|---|---|---|---|---|---|
## **Designated Funds**
These funds represent the net book value of fixed assets held by the Charity.
24
## **CHANGING TUNES**
## **NOTES TO THE FINANCIAL STATEMENTS**
## **YEAR ENDED 31 DECEMBER 2023**
## **15 Movement in funds** _**(continued)**_
## **For the year ended 31 December 2022**
|**Restated**
**Restricted funds**
1772 Charity
John James
Cadbury/West Midlands
Charles Hayward/Young Voices
Lightbulb Trust
NL-Lived Experience/RTR
Post-release Bristol
Rayne Foundation
Sheriff of Gloucester
Small Trusts
Swire
Valentines/ Guy Marsh
Walter Guiness/ Erlestoke
Weavers/Drake Hall
Weinstock
**Unrestricted funds**
General funds
Designated funds
**Total funds**|**At 1 Jan**
**2022**
**£**
-
-
13,898
23,250
17,850
960
-
14,000
5
53,400
-
13,535
3,496
7,098
1,535
149,027
104,588
4,935
109,523
258,550|**Income**
**£**
19,000
7,000
-
17,500
-
24,024
2,100
-
-
26,253
25,000
-
-
-
-
120,877
382,089
-
382,089
502,966|**Expenditure**
**£**
(3,830)
(2,717)
(13,898)
(26,983)
(17,850)
(24,984)
(2,100)
(8,266)
(5)
(50,836)
(8,422)
(3,020)
(1,746)
(5,758)
(1,290)
(171,705)
(367,868)
(1,965)
(369,833)
(541,538)|**Transfers**
**£**
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
(1,654)
1,654
-
-|**At 31 Dec**
**2022**
**£**
15,170
4,283
-
13,767
-
-
-
5,734
-
28,817
16,578
10,515
1,750
1,340
245
98,199
117,155
4,624
121,779
219,978|
|---|---|---|---|---|---|
## **Restricted Fund Descriptions**
## **1772 Charity**
These funds are for the Tuning in with women project.
## **Anchor Foundation/TFN**
These funds were given for rehabilitative music work at Eastwood Park women's prison.
## **Cadbury/West Midlands**
These funds were given for music rehabilitation programmes with prisoners and ex-prisoners in the West Midlands.
25
**CHANGING TUNES**
## **NOTES TO THE FINANCIAL STATEMENTS**
## **YEAR ENDED 31 DECEMBER 2023**
**15 Movement in funds** _**(continued)**_
## **Charles Hayward/Young Voices**
These funds were given for music rehabilitation work with young people who are in the criminal justice system, or at risk of entering it.
## **John James**
These funds are for Vinney Green and PRU work with young people.
## **Lightbulb Trust**
These funds were given for music rehabilitation work with young people who are in the criminal justice system, or at risk of entering it.
## **NL-Lived Experience/RTR**
These funds were given to help the professional development of ex-prisoners as creative leaders, producers and musicians.
## **Post-release Bristol**
Funds received from small funders to help with post-release work on Bristol respectively.
## **Rayne Foundation**
These funds were given to research and develop a music rehabilitation programme for Secure Children's Homes.
## **Sheriff of Gloucester**
These funds were given to support our work at Vinney Green Secure Unit.
## **SJP Foundation**
These funds were given for rehabilitative music work with young people who are in the criminal justice system, or are at risk of entering it.
## **Small Trusts**
These funds represent lots of smaller amounts given towards a particular aspect of the charity's work. The majority of the funds represent grants given for work in a specified prison.
## **Swire**
These funds were given to support the Young Voices project.
## **Valentine Charitable Trust**
Funding received for prison work in Dorset (Guy's Marsh).
## **Walter Guiness**
The funds were given to support our work at HMP Elestoke.
## **Weavers/Drake Hall**
These funds were given for the provision of a musician in residence in Drake Hall.
## **Weinstock Fund**
These funds were given towards the charity's work in HMP Erlestoke.
## **Youth Music/RTR YA**
These funds were given for work with 18-25 year olds by Red Tangent Records.
## **Reclassification of prior year fund**
The trustees have reviewed the Swire funding with the donor and concluded that the funding is restricted. A restatement of £7,500 in the prior year has been made between restricted and unrestricted funds.
26
## **CHANGING TUNES**
## **NOTES TO THE FINANCIAL STATEMENTS**
## **YEAR ENDED 31 DECEMBER 2023**
## **16 Analysis of net assets between funds**
|**As at 31 December 2023**
Tangible fixed assets
Other net assets
**As at 31 December 2022**
Tangible fixed assets
Other net assets|**Restricted**
**Funds**
**£**
-
86,585
86,585
**Restricted**
**Funds**
**£**
-
98,199
98,199|**Unrestricted**
**Designated**
**Funds**
**£**
4,494
-
4,494
**Unrestricted**
**Designated**
**Funds**
**£**
4,624
-
4,624|**Unrestricted**
**General**
**Funds**
**£**
-
194,491
194,491
**Unrestricted**
**General**
**Funds**
**£**
-
117,155
117,155|**Total**
**£**
4,494
281,076
285,570
**Total**
**£**
4,624
215,354
219,978|
|---|---|---|---|---|
## **17 Related party transactions**
There are no transactions with trustees or other related parties other than those disclosed as required by the SORP elsewhere in the financial statements.
27