SHARP LTD ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2025 ## **Trustees** T Blech N Clegg (resigned Jan 25) E Foxhall R Jarrah J Sheppard T Sudbury Slight J Cartwright (resigned May 24) S Fealey ## **Chair’s Foreword** Welcome! I'm delighted to introduce this year’s annual report, marking the completion of my second full year as Chair of B Sharp. This report outlines the year’s activities and achievements and I recommend it to you. I would like to express my sincere thanks to our staff, young participants, their families and friends, Youth Music, Lyme Regis Town Council, and our local communities for their unwavering support. Julie Sheppard Chair, B Sharp ## **B SHARP LTD - TRUSTEES' REPORT FOR THE YEAR ENDED 31 MARCH 2025** ## **B Sharp Charitable Objectives and Activities** The Objectives of the Trust are: The advancement of the arts, culture, heritage or science. The advancement of citizenship or community development. The advancement of education. The relief of those in need by reason of youth, age, ill-health, disability, financial hardship or other disadvantage. ## **Strategy** To achieve these objectives, we: - Consult young people about their music aspirations, secure grant funding and then organise and deliver group music making workshops and performances for young people in Lyme Regis, Bridport, Axminster, Seaton and the surrounding area. The workshops offer technical, creative and leadership training. - Mix children and young people of varying ability, experience and background, bringing them together where they can make friendships and find support, encourage co-operation and tolerance, and build confidence and self-esteem that they can carry forward for the rest of their lives. - Increasingly find ways to make our offer accessible to young people of all cultural backgrounds ● Work to ensure young people facing challenging circumstances, including disability, poor mental health, NEET, LGBTQ+ and financial hardship can participate in our programmes. - Train and sustain an emerging workforce of young people. - Partner with individuals and organisations to share resources, expertise, recruit participants and build pathways to enhance our programme and those of our partners, strengthening the wider sector. 1 - Our work depends upon the goodwill of many adults, young people, organisations and funders. B Sharp would like to thank all our supporters for the practical help you give us throughout the year. The Trustees' strategy has due regard to the guidance published by the Charity Commission on public benefit. ## **ACHIEVEMENTS AND PERFORMANCE April 2024 – March 2025** ## **Participation:** This year, we have worked with: - 2534 participants, of which 731 had additional challenges or vulnerabilities - 2138 young people, aged 0 - 25 - 310 adult participants including parents, grandparents, educators and youth leaders - 33 partner organizations including schools, pre-schools, health, community and voluntary organisations, venues & arts and cultural sector partners - delivered 474 sessions, working across three counties (Dorset, Devon and Somerset) B Sharp exists to provide music making opportunities to young people, especially those experiencing challenges. We aim to build their musical and personal skills and confidence, as well as their contribution to their community. Our evaluation shows that the B Sharp model of music making has had a significant impact on young people’s personal, emotional and social development. The model requires a high intervention rate from staff and music leaders, which is expensive and will always require high levels of funding. During the year, we have delivered against our Business Plan, to: - Maintain and develop our existing open access music making programme in Lyme Regis, Seaton, Axminster and Bridport, and to develop the programme over a wider geographical area to reach more young people. - Develop relationships with partner organisations to reach young people who have specific vulnerabilities, enhance the delivery of the core programme, adapt our offering and capitalize on joint-venture opportunities. - Work with partners, including local venues, local communities and world class musicians, to provide inspiring musical and creative experiences and performance opportunities for local young people. - Continue to develop the capabilities of our music leader team, including our young music leaders, to deliver high quality music making with young people that develops their musical and personal development. ## **ACTIVITIES AND PROJECTS** ## **Regular Activity:** This year B Sharp has continued to deliver our on-going regular music projects, supported through funding from Youth Music: - Hub Jams, Lyme Regis for young people 11-19 - Boombox, Lyme Regis –for young people aged 9-11 - Bridport Boombox – for young people aged 8 -13 - Seaton Starz - for children aged 5 - 8 - B Sharp Early Years - Music for pre-school children with preschools and schools, and with their families - BeatsCollective – online music production session for young people aged 13 – 18, delivered in partnership with DYS Space - MusicTogether – weekly early years and parent/carer sessions in partnership with Dorset Libraries 2 - Young (Music) Leadership Training Programme (YMLP) – 6 young leaders progressed through B Sharp’s leadership programme in 2024-25 We have also continued to deliver regular ongoing music provision through: - Axminster Rock n Pop Club, for young people aged 8 – 11 - primary-age music club funded by Devon Music Hub - Tiny Tunes and Musical Playtime with Lyme Regis Children’s Centre and Bridport Family Hub, weekly music session for parents and children aged 0 – 3 We have also continued to develop and deliver our commissioned services for schools, preschools and community and voluntary sector partners including singing, creative song-writing and group music making. ## **Project Activity:** This year we have delivered 5 specialist projects - MusicFutures – in this financial year we started delivery of the 3rd year of the MusicFutures project, to support young people aged 16+ who are considering a career in music through mentoring, group music making and industry information. Funded by Dorset Council Community and Culture Fund, and Youth Music. - Journey Songs - songwriting project with 3 year groups from Seaton Primary School, exploring local environment and cultural locations and creating original music on the theme of ‘Journeys’. Largescale public community performance at Seaton Tramway in November 2024 - NHS Mental Health and Wellbeing Project - years music sessions for babies and toddler, and new parents/carers who are experiencing/at risk of experiencing poor mental health and social isolation, Jan 2025 onwards. - Music for Wellbeing – programmes of activity to support young people experiencing poor mental health through creative, informal music making including one-to-one sessions, and sessions with specialist partners who support Young People’s Mental Health. Funded through Dorset Community Foundation, Devon Community Foundation and Youth Music. - Little B’s Boogie - baby-friendly live music gig, for children aged 0 -8 and their families, April 2024 at Marine Theatre, Lyme Regis. (Funded by Dorset Performance Fund in 2023-24 but with final event taking place this year) ## **Delivery and impact:** B Sharp’s work has had a good impact throughout this year. Feedback shows that young people have valued opportunities to connect and play music with their peers, learn new skills and express themselves through music making, and that they and their parents/carers and teachers feel these experiences have helped them improve their wellbeing and confidence. _“R absolutely loves the sessions and we can see such a difference in her confidence. It's been absolutely amazing and I can't begin to tell you how BSharp has changed her life”_ Support Worker for R, age 15, with ASD/ADHD, mental health and self harm issues ## **Community Events in Lyme Regis & Bridport:** We have provided the following opportunities for young people to share their work with their communities: - Busking Festival in July 2024 3 - Journey Songs Performance, November 2024 - Festive Performance evening, December 2024 - Waffle House Takeover, Axminster, March 2025 These provided a platform for young people to perform their music, and for our Young Trainee Music Leaders to co-produce events. We were successful in a bid to Arts Council England to develop our Busking Festival (due to be held in May 2025), following on from our R&D as part of the ‘Raising the Bar’ Project in 2019 We started development work towards this festival, including initiating a training programme for Young Producers and Young Festival Assistants. ## **Schools & Pre-schools:** During this year we have worked with pre-schools & schools to support young people’s access to highquality, inspirational music activities. We have worked with: - Kilmington Pre-School - St Andrew’s Pre-School - All Saints Nursery, Axminster - All Saints Primary School, Axminster - Woodroffe School, Lyme Regis - St Michael’s School, Lyme Regis - Seaton Primary School, Seaton - Mountjoy School, Beaminster - Wyvern Academy, Weymouth ## **Community Partners:** We have also delivered music sessions supporting young people in challenging circumstances, through working in partnership with: - Young people with ASD and Social Anxiety, with ASCape Bridport - young people experiencing poor mental health, in partnership with Action East Devon, Headlight - Young people who are Care Experienced, in partnership with Dorset Council, Care Leavers Team - babies, toddlers and their families in partnership with West Dorset Children’s Centres/Bridport Family Hub and Dorset Libraries - economically disadvantaged young people through running music-based holiday clubs in partnership with Dorset Council’s HAF Programme (Holidays Activities and Food) - disabled young people with Mountjoy Special School, Beaminster and Wyvern Academy, Weymouth ## **Work experience, education and employment:** Central to our work is our training and skills development for young people. We have become well known for our young producers and leadership programme, which has earned a local and national reputation, through practice sharing via the Youth Music Network and sector conferences. Through our professional development opportunities and work-based training experiences (mentoring, leading groups, organising events for example) with B Sharp projects, young people can build an impressive portfolio and CV, which is important in building their transferable skills and gaining access to employment, college and university courses. At age 15, young people can apply to become a Trainee Music Leader (paid). This year we have trained 6 young people. Over the past year, our office/administration Team expanded its size, bringing in additional fixed-term project management capacity. The team was at 1.8 full time equivalent and 15 trained freelance music leaders and support workers, plus a pool of skilled associates/consultants regularly contracted for work. 4 ## **Professional Workforce Development:** We commission, recruit and form working partnerships with high-quality professional guests who bring an added dimension to the local B Sharp offer – inspiration, mentorship, skills and knowledge development. This year, Arts Council (Digital Culture Network), Youth Music, Dorset Music Hub, Devon Music Hub, Dorset Youth Association, Arts Development Company, have all contributed to our training programme and provided our participants, music leaders, organisation and community with development opportunities. ## **Organisational Structure:** During this period, we took on the lease on an office in Axminster, to support staff communication and coworking. Book-keeping and payroll functions were retained in-house. We are also immensely grateful to Youth Music for their flexibility in supporting us to work innovatively and responsively to deliver regular open access music making groups, schools and early-years settings. Also to Lyme Regis Town Council for their ongoing support. The Trustees recognize that maintaining our on-going development in the light of the cost of living crisis will require re-thinking of the business plan, flexibility in how we deliver our objectives, as well as significant external support. Securing B Sharp’s future in the current environment will be a continuing focus for the Board. ## **NATIONAL, REGIONAL AND LOCAL SUPPORT** During the year 2024 – 25 B Sharp has received support from National Organisations: **Youth Music** - £50000, towards delivery of year 2 of Umbrella Music Centre development programme (2024-27). We are grateful for Youth Music’s support for B Sharp’s open access, inclusive group music making programmes, our work with early-years settings, our professional development pathways, and our 1 to 1 work with young people who are NEET, and who struggle to access group music making **Arts Council England** - £21,868 toward B Sharp’s Busking Festival, and Young Producer and Young Festival Assistant Programme to be delivered in May 2025 And the following local organizations: **Lyme Regis Town Council** – Lyme Regis Town Council continues to support B Sharp with a service level agreement of £5,000 for 2024/2025. **Dorset Council (Community and Culture Fund)** - £2450 towards delivery of MusicFutures, development programme for young people aged 16 -25 **Dorset Community Foundation (NHS Mental Health and Wellbeing Fund)** - £9949 towards delivery of music-based support groups for parents/carers, at risk of experiencing poor mental health and wellbeing, and their children aged 0 - 3 **Dorset Community Foundation (Dorset Council Neighbourhood Fund)** - £5000 towards delivery of support for young people to help them engage in music, including pastoral support, one to one support and work with partners that support young people’s mental health **Dorset Music Education Hub** - £5000 match funding for West Dorset Umbrella Music Centre Programmes (Youth Music) **Devon Music Education Hub** – £4000 towards delivery of Axminster Rock n Pop Club (some funding to cover following financial year also) **Devon Community Foundation (Small Grant)** - £4980 towards delivery of music activity in East Devon, particularly to support young people’s mental health 5 **East Devon District Council (Creative East Devon Fund)** - £2958 towards delivery of Journey Songs - songwriting project for children in Seaton **Bridport Town Council** - £500 towards delivery of B Sharp’s inclusive creative ensemble groups in Bridport **Lyme Regis Regatta & Carnival** - £863.00 towards purchase of replacement musical equipment. **Lyme Splash** - £1000 towards general support for B Sharp’s programmes. ## **FINANCIAL REVIEW** The excess of income over expenditure for the year shown in the Statement of Financial Activities (SOFA) was -£1785 for the year (2024 -£122). In accordance with Charity Commission requirements the SOFA shows income that we have received and expenditure that we have incurred without any attempt to “match” them as there would be in a commercial Profit and Loss account. The bank balance at the end of the financial year was £145568 (2024 £147353) of which £47623 is not required to be spent on any specific activity. This is described in the SOFA as unreserved funds and excludes a small cash balance. Unreserved funds support the charity to continue providing regular, ongoing music activity for young people despite fluctuating income. ## **Reserves and reserves policy:** The Trustees aim to keep a proportion of unrestricted funds in reserve to ensure the organisation could conclude its activities in an orderly manner if required. Trustees review the appropriate amount annually and a copy of the reserves policy is available on request. ## **Structure, Governance and Management:** The Trust is constituted as a company limited by guarantee and is a registered charity. The governing document is the company's Memorandum and Articles of Association. B Sharp was established in 2007 under the name Lyme Youth Arts as an unincorporated community group, in response to a culture of bad press towards young people in the Lyme Regis area and lack of opportunity for them. Young people were requesting open access and relevant music activities out of school. B Sharp was incorporated in 2011. Officers of B Sharp Ltd are elected from the Trustees at each Annual General Meeting. This year the officers were: Chair Julie Sheppard ## **TRUSTEES AND GOVERNANCE** The Trustees in office during the year were: Tracey Blech Nigel Clegg (resigned January 2025) James Cartwright (resigned May 2024) Ella Foxhall Raja Jarrah Julie Sheppard Theo Sudbury Slight Sarah Fealey All Trustees are also directors of the Company. During the year one trustee was suspended from their role following criminal proceedings that were unrelated to the charity's activities. Following the outcome of those proceedings, the trustee was convicted and subsequently removed from the board **Secretary to the Board:** Position not filled 6 Professlonal advise￿. Sally Clemenls- adwser arMI'cnbcal fr*Thl'. Cleo Evans - adviser Bankors: Uoyds Bank The TnJ$lees adopt ￿1¢￿$. d8¥dop strateg￿S a￿1 0￿￿ee the cXganiSat￿'s fin8nc8s in order lo achieve the objectives ol B Sha￿. Pdwjes are updated ar)nually al Ihe Novemb6r AGM. B Sharp engagè suitable people lo deliver the obiecbves. The currenl Chi61 EwJA￿Sknc &reclor Is Rulh Cohen. The Board meets al lea51 four tsm6s a year. Pencrflic review5l8￿"ts ol the 8oard's skn'lls. assels and needs aro undertaken, and gaps filled by inv11atK￿ or advertisement. Thè Board includes two yosJng people (aged 18 _ 251 who afe ex-pa￿￿PaThts and Y¢JJrvJ Tralnee Music Leade(s. They were given tho opportunity to attend the board as d)seryers for several months. and were SUpp￿tad duri￿ the indUC￿n peiH)d by other board members. Al the heart of B Shary)'s elhos ￿ our p8opl•'. MUSK Leaders. Support W(Mk•rs. Young Music Loaflers. Produeets and Trainees. Young participants are Consulled regularty. ar￿ are invited to our AGMIBoaft1 meeting and specol focu5 groups lo shape the programme. lo the Ch*f Executs¥elArt15b"c Direclor and the Board. COMMUNICATION Em811s & M8iling list.. info@bshwp.org. Webslle.. vThrn.b8harp.org.uk We operate several wal Med￿ sites that inlorm and interad V*ith slakeho1dg￿.' Fac¢tw))k'. httpS.'1fvA￿¥.IaC*t¥Jjk.conVbsha1prn￿w¢ Inslagram.. b_sharp_music YouTube'. https.'Ilwww.youtube.cx)mluserB¥harpVthos Soundclcth.. hltpsjlsoundcloud.conv￿Sharp-rnUS LEGAL AND ADMINISTRATIVE INFORMATION 8 Sharp Ltd Is a eAJmpany Iirriled ty guarnniee and ts a registe￿1 dwTIty. The Chanty Commtssion registrabon numter is 1149237 and Ihe company Tegistraticrfb number 15 08148527. Principal address at>a registered office: Sl Michael's BU￿ne$S Centre. Chureh Street. Lyme Regis. Dwset DT7 3DB Thls reptyt has been weparod in accordwK• wlh the PTOViStons n Part 15 01 the c￿PanIeS Act. Signed on behaw of the Trustees Julle SheppBrd Chair ol TNslees Date.. B SHARP LIMITED INDEPENDENT EXAMINER'S REPORT I report to the trustees on my examination of the financial statements of B Sharp Limiled (the trustl for the year ended 31 March 2025 Res onsibililies and basis of re orl As the trustees of the trust land also its direclors for the purposes of compony lawl your responsible for the preporotion of the financial statements in accordance with the requiremenls of the Companies Acl 2006lthe 2006 Acti. Ihe Monogement Commitlee are responsible for the preparalion of the Accounts- you consider Ihat Ihe audit requirement S.144121 of the Charities Act 2011 (The Acll does not apply. It is my responsibility to state on the basis of procedures specified in the Genero5 Directions given by the Charity Commissioner5 under S.145151 Ibl of The Act, whether particular matters have come to my attention BASIS OF INDEPENDENT EXAMINER'S REPORT My exominations were carried out in accordance with the general directions given by the Charily Commissioner5. That examinotion includes a review of the accounting records kept by the Charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts and the seeking of explanations from you, as trustees, concerning such motlers. The procedures undertaken do not provide all Ihe evidence thal would be required in on audit ond, consequently, I do not express an audil opinion on the view given by Ihe accoun15. B SHARP LIMITED INDEPENDENT EXAMINER'S REPORT XAMINER, TATEMENT continued INDEP NT In connection with my examination, no matter hos come lo my attention: I I Which gives me reosonable cause lo believe Ihat, in any material respect. the requirements.. to keep accounting records in accordance wilh S.130 of The Act,. and - lo prepare accounts which accord with the accounting records and comply with the accounting requirement5 of The Act have not been met,. or 21 To which, in my opinion. oltention should be drawn in order to enable a proper underslanding of the accounts lo be reached. V C Trott, FCCA Chartered Certified Accountant Doted TCAS Limited 2 Victoria Hall Coombe Lane Axminster Devon EXI 3 SAX Chorlty Registration N¢). 1149237 Compony Reglslrallon No. 08148527 {Englond ond Wales) SHARP LTD ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 B SHARP LIMITED STATEMENT OF FINANCIAL ACnViTIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2025 Restllctedl Deslgnated Fund5 2025 ljnrestrkted Tolol Tolal nds 2025 2025 2024 Notes Income from.. Donolions & Legocies Chaiilable Aclivities other troding aclivilie5 3.057 27.702 1.596 3.057 130.484 2.481 2.207 113.479 565 102.782 Total Income 32.355 103.667 136.022 Expenditure on.. Choriloble Music Activity 70.312 67.495 137.807 116,373 Net loulgolnglllncomlng ie50ur¢e$ before tran￿￿$ 137.9571 36.172 11.7851 Tran5fen belween hjnds 29.674 129.6741 Nel lexpendlturellkncome lor the yearl Net movement In lund5 I8.2￿1 6.498 Fund Balances at l Apiil 2024 55.906 91.447 147.353 147.475 Fund Balanee$ ut 31 March 2025 47.623 97.945 145.568 147.353 The stotemenl of finonciol oclivilie5 includes oll goin5 and1055es recognlsed in the year. All income and expenditure derive from conlinving oclivilies. The stolernelll ol lintsnciol aclivitie5 a150 complies wilh Ihe requirements lor on income ond expendiluie account under the Componies Act 2W6. SHARPLTD BALANCE SHEEY AS AT 31 AQ4ROI 2025 2024 6?4 415 CurTentA¥•ty Stock5 12 5.716 926 (a5hai Bankand InH•id 147.1SJ 148J>S0 P.1591 N* CvrrenilA￿s 144.894 146.938 145.56B 117.353 Incomelunth IwriCtedfvThds Dejgnèied Funds unr￿tICI￿dfvfi•$ 16.AlO 21.075 47,613 51.628 39.819 55,906 145.568 141,J53 Th•unded lo the nearest £. The linanciol slalemenls have been prepared under Ihe hisloric cos1 conventions. modified lo include the revoluolion of freehold properties ond Its include inveslmenl piopedies ond cefloin financial insltumenls ol fair valu8. The principal (Jccounting polici85 are s81 out b810w. Golng Con¢em Al the lime of opwoving the lincjnciol 5tolements. the Iiuslees have a reasonable expectation Ihal the Irusl has adequate resources to continue in operational existence foi Ihe foie5eeable future. mus Ihe Iru51ees colllinue lo adopt a going concern basis in prepa￿ng the linanciol stotements. 1.3 Chorlluble Funds Unfe&lricled lund5 ale available lor use ot the discretion ol the Iivslees in luilheronce of Iheir chaiiloble objectives unless tho funds hove been designoled lor other purposes. Reslricled funds ole Subject to specific conditions by donors as to how they moy be v5e(J. The purposes ¢Jnd the use of the reslricled funds ore Sel out in the nole5 to the financial 5tatement5. Endowment funds cjre subject lo specific conditions by donors that the capital rnusl be maintained by the Tru51. Incomlng Resources Income is fecognised when the TIu51 15 legolly entitled lo it ollei ony Derfoimonce condilions hove been mel. the omounls con be meosurecj reliobly ond it is proboble thot the income will be received. Cosh donolion5 or& recognis&d on receipl. Other donolions or8 recognised once Ihe Irusl has been notified ol the donation. unle55 performance conditions reouire dtrferrol ol the omounl. Income lox recoveroble in relolion lo lo donolions received under Girl Aid 01 (Jeeds ol covenant Is iecognised at Ihe lime ol the donation. Legacie5 Ixe recogni5ed on ieceipl or othemqse il ttte Trusl hos been notified ol on impending dislri- bulion. Ihe omounl is known. ond receipl is expecled.11 Ihe omount is not known the legacy is Irealed a5 a conlingenl as5el. B SHARP LTD NOTES TO THE FINANCIAL STATEIIENTS (CONTINVEDI AS AT31 MARCH 2025 Accountlng Polcles ICt)nllnuedl Incomlng Re$ovrce$ Icontlnuedl Turnovei is meosured ol the loii volue ol the considerollon received or ieceivable and iepresenls omounls receivable for good5 and services ￿0VIde£l in tho notmal couise ol business. nel ot discount5. VAT and other soles toxes. Resowces Expended Expendiluie is iecognised on on occrvols bcjsis when a liabilily 15 incutred. Cost ol geneialing lunds ore those costs incurred in alliacting voluntary income, ond Ih05e incurred in trading (jclivilies lo roise lun¢J5. Governance c0515 include those incurred in the goverrbance of a55els ond are primorily ossociated with eonstilulionol ond slolutory requirements. They include occounloncy ond legal c05t5 linked lo Ihe slrolegic monagement of the Trust Tonglble Assets Tongible fixed ossels ore inilially measured ol cost ond subsequently measured al cos101 volvotion. net ol depreciation (Jnd irnpaiiment losses. Depreciotion is recognised 50 Os lo write oll the cost or volvalion of a5sels less their residvol values volves over their useful lives on tt)e following boses.. Plont and Equipment 15% 5tioiuht line The goin or Ios5 aii5ing Iiom Ihe disposol ol an a55el i& determined 0$ the difference between the sole proceeds ond the cairylng value of the as5el. and is fecognlsed in net income for Ihe year. Impalrment of fixed a$sets Al eoch reporting end dale. Ihe Trust ieviews the corrying amount5 01 its longible ossels lo determine whether there 15 ariy indicotion thol those o55ets have suffered on Impoirment Ios5. If ony such indication exi5t5. the recoveroble amount ol Ihe os5el 15 estimoled in order to delefmine Ihe exlent ol the impoirmenl loss lif anyl. Inlongib1e 0s5ets writh definite useful lives ond inlonoible 055et5 not yel reody lor use ore le5ted for impairment annually. and whenever there is an indication the Osset be impoiied. Stocks Stocks are 51ated ol the lower of cost oncj es1im(Jled selling price less cost lo complete and sell. Cost ompiise5 diiecl moleiiols ond. where applicable. direct lobour costs and those ovetheods Ihol hove been incvrred in bringing Ihe 51ock5 01 their present location and condition. Items held lor disliib- ulion al no ol nominal considerotion ole measuied ol the lowerol replocemenl cosl ond cosl. Nel reali5eoble volue is Ihe eslimoled selling price le55 a11 estimoled costs ol completion and costs to be incvreed in mofkeling. Selling ond clislribulion. Cash Und Cosh Equlvalents Cosh ond cash equivolenls inclvde cosh in han. dep051t5 held al coll with bonks. other short tem liouid investments with orginol molurilies of three months or less. ond bank ovetdrafls. Bank overdrolts ore shown wilhin borrowing5 in current liobilitles SHARP LTD NOTES TO THE FINANCIAL STATEMENTS {CONTINUEDI AS AT31 MARCH 2025 Accounllng Poll¢le$ Icontlnvedl 1.10 Flnanclol Inslwment5 The TtU51 has electe(J lo opply the provisions ol Seclion I I 'Ba5ic Financiol Inslrvmenls. (Jnd Section 12 other Finonciol In51tumenls1ssues' ol FRS 102 to all ol ils finonciol instruments. Finoncial in51tvm8nls ole recogni5ed in the Trust's balonce Sheet when the Irust beeome5 patly to the conlrtjcluol provision of the inslrumenl. Financial 05set5 oncj liobililies ore olfsel. with the nel omounls presented in the linonciol slolement5. when there 15 a legolly enlorceoble iighl to sel off Ihe recogni5ed amounls ond there is no inlenlion lo settle on a nel basis or lo reolise the a55et and settle Ihe liobility 5imullaneousty. Boslc Financial Asse15 8asic financi¢Jl Ossels, which include deblors. cosh ond bonk bolance5 are inliolly meosured ol Ifans- oction price5 including tronsoclion c0515 ond are 5vb5equ&nlly corried ot omorli5ed cst using the effective interest method unles5 the arrangemenl conslilute5 a financing Iiansaclion. where the Ironsoclion 15 rlleasured ul the presÈnl volue of the future receipls discounlod ot Ihe market rale of interesl. Financial oss&ls ¢lossilied as receivable wilh one yeor ofe not omorti5ed. Ba5tc Finonelol Uubmmles Bosic financial liabililes. which include credilots and bank bon5 ore inlialty iegognised al transaction price Unle55 the arrangement conslilvles o linallcing Iransaclion. where Ihe debl Insliumenl is me(Jsvred ol Ihe pie5enl value of the future poymenls discovnled al a morket rate ol interest. Inanciol liobilities classilled os feceivable wilh one year ale nol omortised. Debl instruments ore subsequently cariiod ol omortised cosl, using the etFective intere51 method. Trode creditors are obligojlions lo poy lor goods or seivice5 that have been acquiied in th& ordinary course ol operotions from suppliers. Amovnls payable ole clossilied os curienl liabililies if payment 15 due with one year or less.11 nol. Ihey ore piesenled as non-currenl libailities. Trode creditors ore recognisod initiolly ol Irons(Jclion pice and svbsequenlly measufed ot amortised c051 using Ihe emeclive interest method. Derecognlllon of flnonclolliabilthes Finonciol liobililie5 afe derecogni5ed when the Trvst's contraclval obligatlOll5 expire. ale discharged or cancelled. 1.1 l Employee Beneflts The c051 of any unused holidoy enlillemenl is iecognised in the period in which the employee5 services ore received. Teimination ben81its (Jr8 recognised lrnmediolely 0$ CTn expense when Ihe Twsl demonslrably committed lo lerminale the employmenl ol on employee oi lo provide termination benefit5. CrlHcul accountkng estlmates and ludgements In Ihe applicolion ol the Tiusl's occcounling policie5. the Iru5tees ore required to moke judgements, e5timotes and assumptions about the corrying amount ot asset5 and liabilities Ihol cjre not r&odily opporent from other sources. The e5timoles and osso¢ioled o5sumptions ore based on historical experience cjnd olher foctors Ihot ore considered lo be relevant. AclLJoI resul15 moy dlfler from these eslimgte5. The estimoles and underlwng assumptions ore reviwed on on ongoing basis. Revisio￿ of accounting e&limale5 ore recognised in the peTiOD in which Ihe e5timale is revised where Ihe revislon olfects only Ihot period. or in the period ol revision and lulur& periods where il ollec15 bolh. SHARP LTD NOTES TO THE FINANCIAL STATEMENTS {CONTINUEDI ASAT31 MARCH 2025 Dona15ons and legacles Unre$lrl¢led Funds 2025 Reslil¢led Funds 2025 Tolol Total 2025 2024 Donolions ond Gilts 3.057 3.057 2.207 For the yeor ended 31 Moich 2025 3.057 2.207 Chuittoble Acllvllle$ Choimoble Mvslc A¢￿V￿leS 2025 char￿able Mv$lc Actlvltles 2024 Grants Wofk5hop Fee5 Commission Fees 107.165 6.143 11.176 88.758 6.390 18.131 lJ).484 113.479 Anolysis by Fund Unrestricted Fund5 Restricted Funds 22.122 91.357 41.157 83.515 113.479 124.672 B SHARP LTD NOTES TO THE FINANCIAL STATEMENT5 {CONTINUEDI AS AT 31 MARCH 2025 Olher tradlng octlvles Unreslrlcted Funds 2025 Rethlcted Funds 2V25 Tolol Total 2025 2024 Merchondise sales Event colering and bar Ticket sale5 Inleièsl Received io 350 225 10 350 120 445 1.596 2.481 565 SHARP LTD NOTES 10 THE FINANCIAL STATEMENTS (CONTINUED} ASA731 MARCH 2025 Youth Mvslc ChoiNy Charknble Chorftoble Mv$lc Actlvltle5 Muslc Ac1fv￿1es 21Y25 2024 Slotl Remuneiolion and pensions Consullanls Troining and CPD Bv5ine55 development & ProfE5sionol $1011 Music leoder5 Perlormanc9 Sxpenses Event stott and lechnicol 5UPPOrt Troinee expenses Trainers and mentors Equipment expensed Equipment hire Aerchandise costs Travel expenses Venue exDeTrse5 Other choritoble expenditure 44.618 1.420 94 12.292 56.754 507 1.599 47.609 1.230 2.137 50.441 33 1.228 764 3.295 125 175 1.6 4.680 1,842 3,233 127,019 108.692 Shure of 5UPPOrt costs (see note 71 Share ol governonee c0515 (see note 71 6.439 4.349 3.932 3,749 137MJ7 116.373 Anotysls by Ivnd Unreslricled lund5 Restricted funds 70,31? 67.495 45,384 12,749 137.807 58.133 ## **B SHARP LTD** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**AS AT 31 MARCH 2025**_ ## **7 Support Costs** |Depreciation
Office space
Sundry expenses
Insurance
Advertising and marketing
Purchases
Website costs
Bank charges
Accountancy andsoftware
Administration expenses
Analysed between
Charitable activities|**Support**
**Costs**
**2025**
**£**
119
2,281
442
677
2,374
301
245
6,439
6,439|**Governance**
**Costs**
**2025**
**£**
205
2,352
1,792
4,349
4,349|**Total**
**2025**
**£**
119
2,281
442
677
2,374
301
245
205
2,352
1,792
10,788
10,788|**Total**
**2024**
**£**
1,147
-
308
668
1,728
-
81
235
1,357
2,157
7,681
7,681| |---|---|---|---|---| ## **8 Trustees** Two trustees, E Foxhall & T Sudbury Slight, have received remuneration as they are paid Music Leaders which is declared and any potential conflicts are duly managed. None of the remaning trustees (or any persons connected with them) received any remuneration or benefits from the trust during the year. ## **9 Employees** |The average number of employees during the year was:
**Employment Costs**
Wages and Salaries
Social Security Costs
Pension Contributions|**2025**
**Number**
2
**2025**
**£**
39,775
1,975
2,868
44,618|**2024**
**Number**
2
**2024**
**£**
37,337
2,893
675
40,905| |---|---|---| SHARP LTD NOTES TO IHE FINANCIAL STATEMENTS ICONTINUEDI AS AT 31 MARCH 2025 10 langlble Ilxed ossels Plont & equipmenl Cosl ut l April 2024 Addilions 11.296 378 al 31 Morch 2025 11.674 Depreclallon ond Impolimenl ot l April 2024 Depieciolion chorged in the year 10.881 at 31 March 2025 t1.￿0 Carrylng amount (Jt 31 Mafch K)25 674 at 31 IAarch %)24 415 I l Fknanclal Instruments 2025 2024 Corrykng omovnl ol linancial 05set5 5.726 926 Carrylng amount of flnanclal Ilabllttes 2.259 12 Deblors 2025 2024 Amounts lalllng due wlthln one year Accounts Receivoble other Debtors 676 5.050 926 5.726 926 13 Credllors 2025 2024 Amovnts falllng due wmhln one year Trade Ciedilots Acctuals ond rjelerred Income 286 1.973 254 858 2.259 SHARP LTD NOTES TO THE FINANCIAL STATEMENTS ICONTINUEDI AS AT31 MARCH 2025 14 Reslwlcted & Dedlcoled fvnd5 income funds ol Ihe Trust include ie51ricled lunds compii5ing the following ullexpended Bolonces 01 donolions and gfan15 held lor specih"c purposes ond lunds Set aside by Ihe Iruslee5 loi specific purposes. Btslonce al l April 2024 Incoming Re50vrces Resources Expended Transfers Bolonce ol 31 Mtsich 2025 RÈ5tiicted funds Youlh Mu51C Sociol Inclusion usic Futures NH5 Menlol Health DC Neuhbourhood Fom jO￿neY Song5 Arts Council 8usking Fe51piol Devon Communily Foundation Oevon Must Hub Dorset Performonce Fund 41.608 976 55.577 138.5421 119,3491 17221 12541 39.294 2.450 9.949 11.4731 11.S(K)I 6.976 4.926 3.319 22.428 4.980 4,366 214 13.4851 11.1501 12.IM)QI 19.278 4.980 2,130 3.694 7,814 13.9301 I2.￿0) 13.Tr11 14,7371 Desonoted fun(Y5 Opportunity development P8rlormO￿e development Equiprnenl Purchase 31.519 1.378 4.458 112.7691 18,750 l.J)4 1.021 3.437 91.447 l(B.283 97.945 Yovlh Mu5ic- reslricled lor delivery lo young people ol ieguloi opèn occess music maklng opportunities. eorfy yèars opporfunilles. one to one music moking for NEET and progression pothway5 lor young trainee Muslc Social Inclusion reslricled for deliveTY ol oulreoch se5sion5 OCIOSs Dorsel with groups not cuirently accessing music making. incuding Ih05e with mental health issues. Music Future5- reslricled lof delivery ol menloiing project to support young people interested in o coreer in the music industry. NHS Menlal Heollh- ie5tricl8d lof delivery ol Derinatal menlol heollh project for new parents ancj their bobies/toddlers DCF Neighbourhood Fund restricted toi delivery of mentol heollh support Ihiough music for young people in D015et Ax Rock n Pop club- res¢ricled for delivery ol o piimory age inclusive open occess music club for the Axminster oreo. Dorset Performance Fund- restricted 10 5upporl deyelopmenl of o site specific perlormonce of originol songwriting. including Support for o¢¢e55 costs lo reach a diverse group ol performances oudlence. Devon Community Fovndolion- Small Fund- reslriculed 10 Support B Shoip5 dellvery in Devon with young people experiencing poor menlol hgollh Arts Council England- Bvsking Feslivol 2025- reslriculed for delivery of B Shorp's Busking Fe5tiYal 2025. ond ossocioted piogramme ol young pioducer developmenl Jouney 5ongs- re5tricled for delivery ol songwriting proj8Ct wilh Seoton Primory School Instrument Fund f95tricled lor the purchase of mvsicol instruments and as50cialed eqLJipmenl. Opportunity development- de5ign(Jled funds lor developmenl ol music opportunitie5 for young people experiencing borriers lo porticip(Jtion in music across Dorsel. Perlormonce development- designtsled lund5 for developmenl of perloirnonce opportunilies by. with ond lor voung people lo reoli5e B 5hawp'5 Events Strolegy SHARP LTD NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) AS AT31 MARCH 2025 Unresfricted Reslrktedl De5ignoted 2025 Total Tolol 2025 2025 2024 15 Ar￿lYsIS ot net a55ets be￿een funds Fund balonce5 0131 March 2025 ore repre5enled by.. Tongible A55els CuFtenl ossels nel ol current liabilities 674 46.949 6T4 144,894 415 146.938 97.945 47,623 97.945 145.568 147.353 16 Rebjted putty trun5¢JCtlons There were no disclosoble reloled party Iransoclions during the yeor12024 nonel.