CHANGING
TUNES
Report and Finoncial Stotement5
of Changing Tunes
For the yearended31 December2025
Charity No. 1144789 Company No. 07791242

CHANGING TUNES
FINANCIAL STATEMENTS
YEAR ENDING 31 DECEMBER 2025
Contènts
Page
Reference and administrative information
Trustees, Annual Report
3-10
Independent Examiner's Report
li
Statement of Financial Activities
12
Balance Sheet
13
Statement of Cash Flow5
14
Notes to the Financial Statements
15-26

CHANGING TUNES
REFERENCE AND ADMINISTRATIVE INFORMATION
YEAR ENDING 31 DECEMBER 2025
Charity No.
1144789
Company No.
07791242
Registered office-
Burton Sweet Limited, The Clock Tower, S Farleigh Court, Old Weston Road. Flax
Bourton, Bristol B548 IUR
Ambassador
Jonathan James
Founder and Patron
Dr Richard Pendlebury FRSA MBE DL
Trustees
Andrew Wood Bsc ACA (Resigned February 20261
Richard Sayer BA Hons, Bsocsci Hons
Paula Harriott Iresigned April 20251
Suzy Dymond-white (Chairperson)
lane Lings (Appointed April 20251
Giulia Balzan
HHJ Michael Cullum
james Rimmer MSC BSC
james Thorne
Cameron Harper (Resigned July 20251
Key management personnel
Chief Executive
Musical Dirertor
Fundraising Manager
Office Manager
David lones
Gareth Hamer
Rea Mole
Lindsay Sellors-moore
Independent Examiner
Joshua Kingston BSC. FCA. Burton Sweet Limited. The Clock Tower, 5 Farleigh Court. Old Weston Road, Flax
8ourt(>n, Bristol BS48 IUR
Bankers
Lloyds TSB, 317 Gloucester Road, 8ristol, BS7 8PG
Off5ce: PO Box 2646, Bristol, BS6 98U
Telephone.. 0844 414 60831 Email.. info@changingtunes.org.uk | Website.. www.changingtunes.org.uk

CHANGING TUNES
TRUSTEES, ANNUAL REPORT
YEAR ENDING 31 DECEMBER 2025
The Trustees present their report and the financial statements which have been independently examined for
the year ended 31 December 2025.
Structure. 8overnance. and mana8ement
Charitable Status
Changing Tunes is a company limited by guarantee Inumber 077912421 which w3s incorporated on 29
September 2011. It attained registered charity status with the Charity Commission of England and Wales
Inumber 11447891 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 35 part of the work of the Bristol Chaplaincy, established a5 an A550Cl8tion with
a Constitution on 2 February 2000, and granted charitable status on 2 March 20tK) (charity number 10796731.
As such, the assets and funds of the unincorporated charity were donated to this charity on 31 December
2011. The Memorandum and Articles were amended on the 23 October 2024.
The Charitable Objects
The object for which the Charity is established is as follows..
The advancement of educatlon In muslc and the performlng arts to..
al offenders and ex-offenders with a view to aiding and furthering their rehabilitation,.
bl people at rlsk of offendlng, particularly but not excluslvely young people who may be drawn Into
committing crime as a result of deprivation, adverse childhood experiences. neurodiversity or other
adverse conditions of life.
The majority of the work of the charity continues to focus on working with people inside prison or post
release. However, the change of charitable objects reflett5 a growing need and ambition to work
preventatively to stem the flow of young people experiencing school exclusion entering the Criminal justice
System.
Trustees
The charity's trustees meet at least four times a year to discuss and review the progre55 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
Chairperson of Trustees is responsible for the induction of any new trustee. New trLJ5tee5 have to gain an
awareness of trustees, responsibilities, the governing document, administrative procedures, and the historv
and philosophy of the charity.
The board is fortunate in being well represented in many area5 and skillsets and new appointment5 to the
board are always made to address gaps or to add skillsets and experience to those not already represented.
Tru5tee5 will take advice from advisors, but also through the trustees, own professional networks, when
these are of use.

CHANGING TUNES
TRUSTEES, ANNUAL REPORT
YEAR ENDING 31 DECEMBER 2025
Dele
ation to Man
ement
The charity tfU5tees delegate the re5pon5ibility 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 Mana8ement
The trustee5 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 bc)ard can be
convened at any point, if a major issue is highlighted by the CEO to the Chair of Trustees.
The top 5 risks as identified in the Risk Matrix are..
Income falls below level of expenditure
Change in Political approach to prison-based funding e.g. DPS
Injury to staff/volunteer due to participant'5 violence or another occupational hazard
Changing Tunes linked to high profile security breach relating to video/music such as inappropriate
lyrical content
Scandal 3550tiated with a prisoner or ex-prisoner with whom Changing Tunes has worked lor with 8
prison where Changing Tunes works)
All of the above risks as well a5 those listed in the Matrix have been considered with ctsntrols and mitigating
factors put in place.
Inevitably continued funding. to ensure continuation of services and employment is a constant challenge,
but the trustees review quarterly management accounts, a re-forecast for the year, as needed, and
fundraising applications and successes, at each of its trustee meetings.

CHANGING TUNES
TRUSTEES, ANNUAL REPORT
YEAR ENDING 31 DECEMBER 2025
With Thanks
We would like to thank all those who have supported the Charity this year including..
29th May 1961 Charitable Trust
Aurum Charitable Trust
Bromley Trust
Burden Trust
Charities Trust
D'oyly Carte Charitable Trust
E G Priestley Charitable Trust
ElmgrantTru8t
Finzi Trust
Foyle Foundation
Fulmer Trust
Garfield Weston Foundation
George Henry Collins Charity
Goldcrest Charilable Trust
Grimmitt Trust
Henrysmith Charity
lerus8lem Trust
John 8nd SLJsan Bowers Fund
Leathersellers, Foundation
Lloyd Robinson Family Charitable
Trust
Lloyds Bank Foundation lor England
and Wales
Maclarlane Walker Trust
National Lotterycommunity Fund
Nisb8t Trust
Noel Buxton Trust
P£riv8r Trust
Patricia Routledge Foundation
Quartet Community Foundation
SJP Foundation
Souler Charitable Trust
Swire Charitable Trust
The Drapers. Charitable Fund
The Lightbulb Trust
Walter Guinesss Charitable Trust
Youth MLJSIC
We are t7150 gr(Fteful to every individual who donoted to Chonging Tunes

CHANGING TUNES
TRUSTEES, ANNUAL REPORT
YEAR ENDING 31 DECEMBER 2025
Chairperson's report
It has been an honour to Chair the Board of Trustees through this year. Delivering a service in prisons is never
an easy environment and this year has seen continued economic and political challenges.
It Is a huge credit to CEO Dzve Jones that we ended the year in a financially strong position. His consistent
attention to securing funding and balancing the immediate and longer-term needs is a successful strategv.
He is brave enough to explore ideas such as Corporate Fund Raising while managing risks appropriatelv.
Safeguarding will always be a priority working with people in the criminal justice system. The Trauma Steering
Group has made the decision to build on the bronze accreditation by enrolling on the silver award. This 15
fully supported by the Board and seen as a necessary development.
Early intervention work has Erown: staff are developing their skills and confidence in this area. There is also
growth in our post release hubs and community Settings with Probation. The balance of delivery in and out
of custody is carefully calculated to ensure we maintain our core mission and our reputation with prisons
remains high. A new service 'Second Verse, has been launched and early feedback from Probation has been
positive.
Red Tangent Records goes from strength to strength with the highest number of artists ever. A new concert
in Exeter wa5 8 great succe55 reflecting the zmount of work in that area. Much work has been done behind
front line delivery with new IT systems and streamlining of processes. New roles have been introduced to
enhance and broaden fund raising to secure a stronger financial outlook.
The London Marathon Team has seen a few ehanges but a full compliment are training hard despite the
challenges of a very wet winter. Enthusiasm is high and fund raising 15 creative.
The Board continues to be dynamic and has recently recruited 4 new members to better reflect the people
we serve. The team of staff and volunteers continue to be loyal and committed and Dave Jones, creative and
caring leadership is greatly appreciated by them and our beneficiaries. Changing Tune5 continue5 to be a
leader in its field and remains a credible and highly respected organisation that l am proud to be part of.
Suzy Dymond-white
Chairperson of Trustees
Statement of public benèfit
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.

CHANGING TUNES
TRUSTEES, ANNUAL REPORT
YEAR ENDING 31 DECEMBER 2025
Chief Executive's Report
2025 was a year of lows and then highs. The 2024 General Election triggered departmental spending reviews
which in turn resulted in departmental cuts, these cuts were then passed on to suppliers of the MOJ such as
ourselves. This sudden and unexpected shift in public sector funding meant we had to adapt and quickly. The
reSLJlting management of change saw many staff lose hours. The proce55 W35 tough but extretnely well
handled by staff a5 they showed grit and a commitment to their work. The necessary cuts were achieved
without any redundancies. Within months of completing the reductions in delivery we won a contract for
delivery in a new prison HMP Bullingdon fully fundedl The irony w3S nOt105t on staff.
The rest of the year progressed well. We developed our next 5 year Strategy launched in lan 2026 through a
series of meetings Wlth staff from all parts of our organisation. The strategy draw5 on the strengths of the
or8ani5ation over many year5 and undertakes to apply them to emergin8 Opportunities. It also seeks to
balance the needs of our participants with those of our staff to ensure the work is sustainable. Details are
shown below.
Changing Tunes broadened it's portfolio of partner organisations by beginning to work alongside Urban
Pursuits, Bexcellence and Bristol Drugs Project. These partnerships have enabled to work with young people
on the edge of permanent exclusion and those with addiction histories. Statistically these are the groups of
people who are more likely to get caught up in the Criminal justice System.
After 5 year5 of effort we launched Second Verse our first direct partnership with Probation. People on license
or on community sentences can now be referred to work with Changing Tunes as part of their rehabilitative
journey. The first cohort showed high levels of engagement and positive outcomes. This project will be the
basis of our growth and development working with people post release as we seek to roll this out to other
Probation areas.
Achievements and Performance
As part of our work we undertake besptske monitoring and evaluation. Below are the participant outcomes
for 2025 which we are extremely proud of..
85% gained self-esteem since working with us
89Yo developed self-confidence since working with us
79% felt more hopeful about their future since working with us
85% felt more able to achieve their goals since working with us
92% aligned with a positive identity since working with us
85% felt part of something positive Since working with us
89% stated they had found healthy relationships through working with us
92% stated they now use music to help with their mental health since working with us
90% feel that music is a p051tive force in their lives since working with us
Our participant reoffending rate continues to remain under 5%. For comparison the reoffending rate for
England and Wales is turrently at 48% within one year of release.

CHANGING TUNES
TRUSTEES, ANNUAL REPORT
YEAR ENDING 31 DECEMBER 2025
Outputs of 2025..
Our year in numbers. De5Plte the reductions in prison ftjnding and the associated disruption we are please
see numbers of people worked with rise to an all-time high.
Group music sessions delivered
Participants worked with
Audience numbers
2,804
905
1,565
163
Recordings sessions
Koestler Awards received
39
FundraSslng and Communlcatlons
The fLJndraising for this year h3s been exceptional with us surpassing our trusts and foundations income
target. Since COVID-19 we have had a policy of seeking to diversify our income streams. In the last year we
have invested in new positions to focus on generating a Corporate Funding strategy and develop our
individual giving programme. We are hopeful that both of these new initiatives will begin to yield fruit in
2026.
Our social media channels continue to grow enabling us to get our message out to a wider audience.
The following quote epitomises our work and the difference it makes to individuals..
"Creuting pluying music helps me deol withfeeling5 Of desp(7ir und tlepression Gnd restores u 5en5e of
worth andpurpose, after muking on impulsive mistake which hos destroyed relutionships and negoted
former ochievements."
Financial Review
Income in 2025 was £820,695 compared to £792,198 in 2024, of which 82°A was unrestricted funds.
Expenditure rose to £754,751 reflecting rising staff costs and expansions of fundraising spend and frontline
delivery. The resulting surplus of £65,944 was an excellent result given financial pressures during the year.
Unrestricted funds at the year-end stood at E464,298. The reserves policy of the charity prescribes
maintaining a balance of six months. expenditure. This equates to reserves of £377,375 and, at the year-
end, free reserves were £406,940 which is in excess of our current policy. The Trustees have designated a
Capital Fund during the year of £45.OCM). No funds, whether restricted or unrestricted. were in deficit at the
year-end.

CHANGING TUNES
TRUSTEES, ANNUAL REPORT
YEAR ENDING 31 DECEMBER 2025
5-Year Strategy
After a series of meetings with Trustees, senior leaders and representatives from the staff body we have
arrived at our 5-year strategy. The strategy will guide our development of the coming years.
OBJECTIVE 1.. AMPLIFY YOUNG VOICES IN NON-MAINSTREAM EDUCATION
W8 will expand ourwork into alt8rnatlV8 education s8tting8 through Young Voices, a d8dicat8d programm8 for
vulnerable young pÈople. This initiative will bring the benefits of creative expression to thosÈ e)tperiÈncing
eKcIu8ion, instsbility and traum8, helpingthern build resilience and a positive sense of identity. Over the next
five years wg will position GhanwngTunes a& a tru8t8d and valued partner for nonmainstream edu¢ational
providers.
The init181 focus of thi5 workwill be in Birmingh8m.
OBJECTIVE 2.. STRENGTHEN THE SUSTAINABILITY OF THE MUSICIAN IN RESIDENCE MODEL
Our Musicians in Re8id8nc8 ar8 fundam8ntal to our impact. W8 will 8nsLJf8 this model is sustainable by
investing in recruitment, traininE, supervision and wellbeing. We will strengthen org3nisational
capacity. maintain continuity of deliv8ry acros8 81t88, and build a st8ble foundation for th8 long-term growth of
our programmes.
OBJECTIVE 3.. EXPAND POST-RELEASE COMMUNITY NUSIC PATHWAYS
We will increase acces5 to cornmunity-ba5ed tnusical 5UPPOrt for people leaving prison. ensuringcontinuity
b8tW88n in prison and community provision. By expanding our community hubs and building strong local
partnerships, we aim to provid& struttLJrÈ, conn&ction and purpos& duringthÈ critical period following
rele88e. Having worked with ChangingTunes in prison will no longer be a pre-requisite forworkingwith us
outsid8. S8cond V8r8e will be rolled out across our patch. An'alumni, programm8 will b8 dev&lop8d to 8UPPOrt
participants who no longer require intensive support.
The initi81 focus of thi5 workwill be in Devon.

CHANGING TUNES
TRUSTEES, ANNUAL REPORT
YEAR ENDING 31 DECEMBER 2025
Statement of Trustees. responsibilities
The trustees (who are also directors of Changing Tunes for the purposes of company lawl are responsible for
preparing the Trustee5' 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 Finoncial Reporting Stundurd upplicuble in the UK ond Republic of Irelond
(United Kingdom Accepted Accounting Prarticel.
Company law requires the trustees to prepare financial statement5 for each financial year which give a true
and fair view of the state of affair5 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 Charitie5 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 disc1058d and explained in the financial statement5-, and
prepare the financial Statements on the going concern b3sis unless it 15 inappropriate to presume
that the charitzble 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 Df 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 step5 for the prevention and detettion of
fraud and other irregularities.
Si8ned by order of the Trustees
Suzy Dymond-white, Chairperson
Date.. 23 April 2026
io

CHANGING TUNES
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF CHANGING TUNES
YEAR ENDING 31 DECEMBER 2025
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31
December 2025.
Responsibilitles and basls of report
A5 the charitvs trustees of the Company land also its director5 for the purpose5 of company lawl you are
responsible for the preparation of the accounts in accordance with the requirements of the Companies Act
20061'the 2006 Act'l.
Having 5at15fied 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 a5 carried out under section 145 of the Charities Act 20111'the 2011 Act'l. In carrying out my
examination I have followed the Directions given by the Charity Commission under section 145151 Ibl of the
2011 Act.
Independent examinerfs 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 l am qualified to undertake the examination because l 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 hève come to my attention in connection with
the examination giving me cause to believe..
3ccounting record5 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 settion 396 of the 2006 Act other
than any requirement that the accounts give a 'true and fair view which 15 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 Practicefor accounting and reporting bycharities applicable to charities
preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK
and Republic of Ireland IFRS 1021.
I have no concern5 and have come across no other matters in connertion 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.
otkll￿ LLI
Joshua Kingston BSC. FCA
Burton Sweet Limited
The Clock Tower
5 Farleigh Court
Old Weston Road
Flax Bourton
Bristol BS48 IUR
D3te= 23 April 2026
li

CHANGING TUNES
STATEMENT OF FINANCIAL ACTIVITIES (INCLUDING INCOME AND EXPENDITURE ACCOVNTI
YEAR ENDED 31 OECEMBER 20Z5
Unrestri¢ted Restricted
Funds
Funds
Total Funds Total Funds
2025
2024
Note
Income from:
Donations and legacies
Charitable activities
Prison Post-Release Work
Other trading activities
Investment income
Other income
345.118
148,489
493,607
464,946
314,659
4,121
7,743
565
314,659
4,121
7,743
565
319,839
2,003
5,410
Toial In¢ome
672,206
148,489
820,695
792,198
Expendlture on:
Raising fund5
Charitable activities
101,770
467,307
101,770
652,981
60,385
581,339
185,674
Total expendlture
569,077
185,674
754,751
641,724
Net income I lexpenditurel and net
movement in funds
103,129
137.1851
65,944
150,474
Total funds at start of year
16
361,169
74,875
436,044
285,570
Total funds at end of year
16
464,298
37,690
501,988
436,044
The Charity has no recognised g3ins 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 IS to 26 form part of these financial statements
See note 10 for fund-accounting comparative figures
12

CHANGING TUNES
BALANCE SHEET
AS AT 31 DECEMBER 20Z5
Company number.. 07791242
2025
2024
Note
Fixed assets
Tangible assets
li
12,358
7,963
Current 35sets
Debtors
Cash 3t b8nk and in hand
12
55,922
444,375
59,427
380,247
500,297
439,674
Creditors .' amounts falling
due within one year
13
110,6671
111,5931
Net current assets
489,630
428,081
Total net assets
501,988
436,044
FUNDS
Unrestrlcted funds
General funds
Designated funds
Restrlcted funds
17
17
17
406,940
57.358
37,690
353,206
7,963
74,875
Total funds
501,988
436,044
For the year ended 31 December 2025 the company was entitled to exemption from 3udit under section 477 of
th& Companies Act 2006 relating to small companies.
Directors, respon5ibilities'.
The metnber5 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 fur complying with requirements of the Act with respect to
accounting record5 3nd the preparation of the accounts.
These accounts have been prepared in accordance with the provisions applicable to companie5 subject to the
small companies, regime.
The financial statements were approved by the trustees on
their behalf by..
23 Ap.ril 2026
and signed on
Suzy Dymond-white
Chairper50n of Trustees
The ngtes on page$ 15 to 26 fomi part of these finan¢ial ststements
13

CHANGING TUNES
CASH FLOW STATEMENT
YEAR ENDED 31 OECEMBER 20Z5
2025
2024
Note
Net cash Inflow I loutflowl from operatlng
artlvlties
14
66.229
126.640
Non-operational cash flows:
Investing activities
Fixed a55et additions
Investment income
19,8441
7,743
17,9571
5,410
12,1011
12,5471
Net cash inflow / loutflowl for the year
15
64.128
124,093
Cashllow Restrl¢tions
Charity law prohibit5 the use of net cash inflow5 on any endowed or other restricted fund to offset net C3sh
outflow5 on any fund outside it5 own object5, except on special authority. In practice. thi5 restriction has
not had any effett on cash flows for the year.
The notes on pages IS to 26 fomi part of these financial statements
14

CHANGING TUNES
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 OECEMBER 2025
l Accounting policies
Accounting Convention
The financial statements have been prepared in accordance with the historical cost convention (except
where otherwise ststed 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 Fin3ncial Reporting Standard applicable in the LJK 3nd Republic of Ireland IFRS 1021 issued in
October 2019, and the Financial Reporting Standard applicable in the United Kingdom and Republic of
Ireland IFRS 1021, and the Companies Act 2(M)6.
The charitv 15 a public benefit entity as defined under FR5102. The Trustees consider that there are nts
material uncertainties affecting the ability of the charity io continue as a going concern.
Income
Income from donations is included in income when these are receivable, except as follows..
l. When donors specify that donations given to the charity must be used in future accounting periods. the
income is deferred until those periods,.
11. 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 ba51S.
Expenditure
Liabilities are recogni5ed as expenditure as soon a5 there 15 a legal or constructive obligation cornrnitting
the chzrity to that expenditure, it 15 probable that Settlement will be required and the amount of the
obligation can be measured reliably. Expenditure is accounted for on an accrual basi5, inclusive of any VAT
which cannot be recovered.
RolslngAunds
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 purch3s&d for resale.
ChoritobleArtlvities
Expenditure on charitable 3Ctivities comprises those costs incurred by the Charity in the delivery of its
8Ctivities and services. It includes both costs that can be allocated directly to this activity 8nd those costs of
an indirect nature necessary to Support them.
Support costs and other costs that cannot be directly attributed to activities are allocated on a basis
consistent with the use of the resource.
Governon¢e Costs
Governance costs include those costs associated with meeting the constitutional and statutorv
requirements of the ch3ritV 3nd includ& the audit fees and costs linked to the strategic management of the
charity. Governance costs are included within support costs.
15

CHANGING TUNES
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 OECEMBER 20Z5
l A¢¢ounting policies (continuedl
Tangible fixed assets
Fixed assets are stated at cost with purchases of £5(X) 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
Office equiprnent
25% reducing b31ance
25% Straight line
Debtors
Trade and other debtors are recogni5ed at the settlement arnount 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 d2te of acquisition or opening of the deposit or similar account.
Creditors
Creditors are recognised where the ch3rity has a present obligation resulting from a past &vent that will
probably result in the transfer of funds to 8 third party and the amount due to settle the obligation can be
measured or estim3ted reliably. Creditors are normally recognised at their settlement amount after
allowing for any trade discounts due.
Fund a¢¢ountlng
Unrestrirted funds can be used in accordance with the charitable objects at the discretion of the trustees.
Designated funds forrn part of unrestricted funds and have been identified as being for particular purposes
by the Trustee5. They are not restricted 3nd can be transferred to general funds at any tirne at the
discretion of the Tru5tee5.
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 p8rticular restricted purposes.
Further @xplanation of the nature and purpose of each fund is included in note 16 of th& financial
st8t&ments.
16

CHANGING TUNES
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 OECEMBER 20Z5
2 Income from- Donations and legacies
Unrestrl¢ted Restrlrted
Fund5
Fund5
Total Funds
2025
53,254
4,181
287,683
S3.2S4
4,181
436,172
Church gifts
Grants received
(Note 31
148,489
345,118
148,489
493,607
Prior year comparative
Unrestricted
Funds
Restricted
Funds
Total Fund5
2024
Restated
Individual gifts
Church gifts
Grants received
45,931
3,771
258,846
556
46,487
3,771
414,688
(Note 31
155,842
308,548
156,398
464,946
3 Grants received
2025
2024
Aurum Charitable Trust
Garfield Weston Found3tion
Harrison-Frank Family Foundation
Henry Smith Charitable Trust
John James Foundation
Lightbulb Trust
Lloyd5 Bank Foundation
NL Community Fund
NL Main Grants
SJP Foundation
Swire Charitable Trust
The Bromley Trust
The Burden Trust
The Jerusalem Trust
The Nisbet Ch8rit8ble Trust
The Valentine Charitable Trust
Drapers Charitable Trust
Foyle Foundation
Leathersellers Comp3ny
20,000
25,000
20,000
25.000
40,000
31,350
10,000
30.000
25,000
56,351
49,350
40,000
25,000
58.045
11,000
20,000
20,000
15,000
15,000
20,000
10,000
20,000
20,000
15,000
10,000
20,000
io,ooo
15,000
20,000
22.500
Grants under £IOk
60,277
71,987
436,172
414,688
17

CHANGING TUNES
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 OECEMBER 2025
4 Expenditure on: Raising funds
Total
2025
Total
2024
Fundraising staff costs
Travel and 5ub5i5tence costs
Website costs
Other costs
76,450
1,669
3,909
19,742
S3.109
600
3,676
3,000
101,770
60,385
Current and prior year all represented by unrestricted funds.
5 Expendlture on- Charltable actlvltles
Support
Costs
INote 61
Total
20Z5
Dlrect Costs
Prison Post-Relea5e Work
444,006
208,975
652,981
444,006
208,975
652,981
Support
Costs
INote 61
Total
2024
Direct Costs
Prison Post-Release Work
418.676
162,663
581,339
418,676
162,663
581,339
18

CHANGING TUNES
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 OECEMBER 2025
6 Support Costs
Total
2025
Total
2024
Management & admin costs
137,647
101,342
Equipment
Tr3vel and subsistence
Training
Office costs
Recruitment
Accountancy fees
Publication printing
Professional fees
Depreciation
L05s on disposal of fixed assets
Governon¢e costs..
Independent examiner's fees
1,993
5,496
109
4,032
145
27,626
1,384
2,652
3,793
13,312
4,035
453
32,767
477
3,500
3,176
14,510
5,032
417
3,960
3,780
208,975
162,663
7 Net income I lexpenditurel for the year
2025
2024
This is stated after charEing'.
Independent examiner's fee..
- for independent examination
- for accounts preparation
1,855
2,105
5,032
417
1,710
2,070
4,035
453
Depreciation
L05s on disposal of fixed assets
The total Trustees, expenses paid during the year £Nil12024.. £Nill. Jane Lings (newly appointed trustee)
receieved payments of £1,305 for provision of professional services during the year.
These payments are permitted under the Mernorandurn & Articles of Association.
No other Trustee received any remuneration during the current or previous year.
Aggregate donations from Trustees, key managernent personnel, and other re13ted parties in the year was
£5,38812024.. £4,1751.
19

CHANGING TUNES
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 OECEMBER 2025
8 Staff costs and numbers
2025
2024
The aggregate p3yroll costs were..
Wages & salaries
Social security costs
Pension contributions
510,883
Sl,163
17,003
475,656
35.342
14,828
579,049
525,826
The average weekly number of employee5 based on headcount during the year was 2912024.. 271. One
etnployee12024.. One) received emolument5 between £60.000 to £70.000.
The key man3gement personnel comprise of the Trustees, the Chief Executive Officer, the Musical Director,
Fundraising Manager and th& Offic& M3nag&r. The total employee benefits of the key management
personnel were £179,50012024.. £172.9551.
9 Taxation
The charity is exempt from corporation tax on it5 charitable activities.
10 Statement of Financial A¢tivities comparative figures
Fgr the year ended 30 December 2024
Unrestricted Restricted
Fund5
Fund5
Total Funds
2024
Income from-
Donations and legacies
Charitable activitie5
Prison Post-Release Work
Other trading activities
Investment income
308,548
156,398
464,946
319,839
2,003
5,410
319,839
2,003
5,410
Total income
635,800
156,398
792,198
Expendlture on:
Raising funds
Charitable activitie5
60.385
413,231
60,385
581.339
168,108
Total expenditure
473,616
168,108
641,724
Net income I lexpenditurel for the year
and net movement in fund5
162,184
111,7101
150,474
Total funds at stsrt of year
198,985
86,585
285.570
Total funds at end of year
361,169
74,875
436,044
20

CHANGING TUNES
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 OECEMBER 2025
11 Tangible fixed assets
Offlce
Equlpment
Musl¢al
Equlpment
Total
Cost or valuation
At 31 D&cember 2024
Addition5
Disposals
6,684
5,197
11,6631
5,894
4,647
15001
12.578
9.844
12,1631
At 31 December 2025
10,218
10,041
20,259
Oepre¢latlon
At 31 December 2024
Charge for the year
Disposals
2,321
2,970
11,3511
2,294
2,062
13951
4,615
5,032
11,7461
At 31 December 2025
3,940
3,961
7,901
Net book value
At 31 December 2025
6,278
6,080
12,358
At 30 D&cember 2024
4,363
3,600
7,963
12 Debtors
2025
2024
Due in less than onè year:
Trade debtors
Pr&payments and accrued income
Other debtors
17,347
36.657
1,918
34,967
22.705
1,755
55.922
59,427
13 Creditors.. amounts falling due within one year
2025
2024
Other creditors
Accruals and deferred income
3,327
7,340
3,299
8,294
10,667
11,593
21

CHANGING TUNES
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 OECEMBER 20Z5
14 Reconciliation of net movement in funds to net cash irtflow from operating activities
2025
2024
Statement of Financi31 Activities.. Net movement in funds
65,944
150,474
Investrnent income
Depreciation
Ilncreasel / D&cre8se in debtors
IDecreasel / Increase in creditors.. current liabilities
IGainsl / Losses from sale of fixed assets
17,7431
5,032
3,505
19261
417
15,4101
4,035
117,9991
14,9131
453
Net cash Inflow I loutflowl from operatlng actlvltles
66,229
126,640
IS Analysis ot changes in cash during the year
2025
2024
Change
Cash at bank and in hand
444,375
380,247
64,128
2024
2023
Change
Cash at bank and in hand
380,247
256,154
124,093
22

CHANGING TUNES
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 OECEMBER 20Z5
16 Movement in funds
For the year ended 31 December 2025
Atljan
2025
At 31 Dec
2025
Income
Expendrture
Transters
Restrlcted funds
Foyle Foundation
Erlestoke
Lightbulb Trust
Ni5bet
NL- Community Fund
Quartet CF
Sheriff of Gloucester
SJP Foundation
Small Trusts
Small trusts/Young Voices
Swire
Valentinesl Guy Marsh
Youth Mu5icIRTR YA
14,0(X)
5,860
20,0(KJ
14.0(X)
45,954
9,900
114.0001
14,4511
124,8771
123.4981
136.7861
18,5451
15511
iio,0001
115,2861
113.1181
121.3421
15,9631
17,2571
1,409
10.799
2,428
14,492
1,355
15,676
11,926
5,324
551
iO,O(K)
3,500
9,800
14.0(Kl
16,171
6,140
7,342
5,963
5.782
4,385
2,822
1,475
74,875
148,489
1185,6741
37,690
Unrestricted funds
General fund5
Designotedfunds
Fixed asset fund
Capital fund
353,206
672,206
1564.0451
154.4271
406.940
7,963
15,0321
9,427
45,000
12.3S8
45,000
361,169
672,206
1569,0771
464,298
Total funds
436,044
820.695
1754.7511
501,988
Oesi
nated Fund Des¢rl
ions
Flxed asset fvnd
These funds represent the net book value of fixed asset5 held by the Charity.
Capital fund
These funds are for refurbishment of our studio space.
23

CHANGING TUNES
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 OECEMBER 20Z5
16 Movement in funds fcontinuedj
For the year ended 31 December 2024
Atljan
2024
At 31 Dec
2024
Restated
Income
Expendrture
Transters
Restrlcted funds
Anchor Found3tion/TFN
Erlestoke
Harrison-Frank
Lightbulb Trust
Ni5bet
NL- Community Fund
Sheriff of Gloucester
SJP Foundation
Srnall Trusts
Sm311 trustsnoung Voices
Swire
Valentines/ Guy Marsh
Youth MusiclRTR YA
4,559
14,5591
13,7581
114,0001
114,0821
12,0741
164,4021
11,4491
iio.0001
117,2681
112,2001
16,6581
15,5131
112,1451
3,758
14,0(M)
21,OCM)
14.OQKI
41,424
2,000
10.0
10,876
18,340
14.0
7,000
8,758
15.676
11,926
5,324
551
28,302
22,563
16,171
6,140
7,342
5,963
5,782
4,476
17,927
86,585
156,398
1168,1081
74,875
Unrestritted funds
General funds
Designated funds
194,491
4.494
635,800
1469,5811
14,0351
17,5041
7,504
353,206
7,963
198,985
635,800
1473,6161
361,169
Total funds
285,570
792,198
1641,7241
436,044
24

CHANGING TUNES
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 OECEMBER 20Z5
16 Movement in funds fcontinuedj
Restrlrted Fund Descrl tlons
Anchor FoundatlonlTFN
These funds were given for rehabilitative rnu5ic work at Eastwood Park women's prison.
Erlestoke
These funds were given towards the ch3rity's work in HMP Erlestoke.
Foyle Foundation
These funds were given towards the growth of 'Young Voices. music learning programme with young
peopl& in prison and children at risk of offending in 202S.
Harrison-Frank
These funds are for salaries to support group music making with prisoners and ex-prisoners.
John James
These funds are for Vinney Green and PRU work with young people.
Llghtbulb Trust
These funds were given for music rehabilit3tion work with young people who are in the criminal justice
system. or at risk of entering it.
Nlsbet
These funds are for the rehabiliation programme at Vinney Green and St Matthias.
NL- Community Fund
These funds were given to help the development of women with lived experience.
Quartet Communlty Fund
These funds were given for music Intervention Programme which supports young people at risk of
permznent exclusion from school and criminal activity.
Sherlff of Gloucester
These funds were given to support our work at Vinney Green Secure Unit.
SJP Foundztion
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 Tru5tS
These funds represent lots of smaller arnounts Eiven towards a particular aspect of the charity's work. The
majority of the funds represent grants given for work in a specified prison.
Small trustslyoung Voices
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.
Swire
These funds were given to 5UPPOrt the Young Voices project.
Valentlnesl Guy Marsh
Funding received for prison work in Dorset IGuy's Marshl.
Youth MusiclRTR YA
These funds were given for work with 18-25 year olds by Red Tangent Records.
2S

CHANGING TUNES
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 OECEMBER 20Z5
17 Analysis of net assets between funds
Unrestricted Unrestricted
Designated
General
Funds
Funds
Restri¢ted
Funds
Total
As at 31 De￿mber 2025
Tangible fixed assets
Other net a55ets
12,358
45,000
12,358
489,630
37,690
406,940
37,690
57,358
406,940
501,988
Unrestricted Unrestricted
Designated
General
Funds
Funds
Restricted
Funds
Total
As at 31 December 2024
Tangible fixed assets
Other net assets
7,963
7,963
428,081
74.875
353.206
74,875
7,963
353,206
436,044
18 Related partytransartlons
There are no transactions with trustees tsr other related parties other than those disclosed as required by
the SORP elsewhere in the financial statements.
26