2023-08-31-accounts - Saffron Music Trust

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator. This document is also available as Markdown.

					Pages
Trustees' annual report (incorporating		the director's report)			1to 14
Independent auditor's	report to the members				15to 19
Statement offlnancial	activities (including		income and expenditure	account)	20
Statement offinancial	position				21
Statement ofcash flows
Notes to the fmancial	statements				23to38

Trustees' Annual RePort (fnco	Trustees' Annual RePort (fnco	rPorating the Directo	rs' R	ePort) ouaea	aaS)
Year ended 31August 2023
Reference and administrative		details
Registered charity name		Safi'ron Hall Trust
Charity registration	number	1153685
Company registration	number	08534643
Principal office and registered		Council Offices
office		London Road
		Saffron Walden
		Essex
		CB114ER
The trustees		Mr David Anthony Barrs
		Ms Caroline Derbyshire
		Mr Hugh Parnell
		Ms Pofiy Lankester
		Mr John Lodge
		Dr Pamela Davis
		Mr Dominic Wallis
		Mr Nick Finlayson-Brovru
		Mrs Jane Richardson
		Professor SirBarry Ife		CBE	(Resigned 31January	2024)
		Mr Mark Philip Hayes			(Resigned 3 November	2023)
Auditor		Streets Audit LLP
		Chartered Accountants		Jk statutory	auditor
		3 Wellbrook Court
		Girton
		Cambridge
		CB3 ONA
Bankers		Lloyds Bank pic
		3King Street
		Sufi'ron Walden
		Essex
		CB101HF
Solicitors		Stone King
		Boundary House
		91Charterhouse	St
		London
		EC1M6HR

					2023		2022
				Unrestricted	Restricted
				funds	funds	Total funds	Total funds
			Note	g	g
Income and endowments
Donations and legacies			5	530,179	246,444	776,623	837,437
Charitable activities			6	986,546		986,546	815,523
Invesnnent income			7	152		152
Other income			8				831
Total income				1,516,877	246,444	1,763,321	1,653,791
Expenditure
Expenditure on raising funds:
Costs ofraising donations		and
legacies			9	82,043		82,043	106,049
Expenditure on charitable	activities		10,11	1,736,398	79,024	1,815,422	1,736,072
Total expenditure				1,818,441	79,024	1,897,465	1,842,121
Net expenditure				(301,564)	167,420	(134,144)	(188,330)
Transfers between funds			25	176,270	(176,270)
Net movemeat in funds				(125,294)	(8,850)	(134,144)	(188,330)
ReconciTiation offunds
Total funds brought forward				(211,790)	93,000	(118,790)	69,540
Total funds carried forward				(337,084)	84,150	(252,934)	(118,790)

31August 2	023
				2023		2022
			Note	K	g
Fixed assets
Tangible fixed assets			17		84,547		92,285
Investments			18		I		I
					84,548		92,286
Current assets
Stocks			20	4,673		5,963
Debtors			21	96,793		62,404
Cash at bank	and in hand			113,146		230,283
				214,612		298,650
Creditors: amounts		falling due within
one year			22	498,617		419,186
Net current	liabilities				(284,005)		(120,536)
Total assets	less current liabilities				(199,457)		(28,250)
Creditors: amounts		falling due after
more than one year			23		53,477		90,540
Net liabilities					(252,934)		(118,790)
Funds ofthe charity Restricted funds					84,150		93,000
Unrestricted	funds				(337,084)		(211,790)
Total charity funds			25		(252,934)		(118,790)

			2023	2022
				f
Cash flows from operating		activities
Net expenditure			(134,144)	(188,330)
Adjustments for:
Depreciation oftangible fixed assets			15,132	14,841
Other interest receivable snd similar income Interest payable and similar charges			(152) 5,492	7,777
Changes in:
Stocks Trade and other debtors Trade and other creditors			1,290 (34,389) 78,726	(2,853) 15,942 61,813
Cash generated from operations			(68,045)	(90,810)
Interest paid Interest received			(5,492) 152	(7,777)
Net cash used in operating	activities		(73,385)	(98,587)
Cash flows from investing		activities
Purchase oftangible assets			(7,394)	(7,865)
Net cash used in investing	activities		(7,394)	(7,865)
Cash flows from flnancing		activities
Repayments ofborrowings			(36,358)	(63,933)
Net cash used in financing	activities		(36,358)	(63,933)
Net decrease in cash and Cash and cash equivalents	cash equivalents at beginning ofyear		(117,137) 230,283	(170,385) 400,668
Cash and cash equivalents		at end ofyear	113,146	230,283

				Unrestricted	Restricted	Total Funds
				Funds	Funds	2023
Donations
Donations				302,523	209,144	511,667
Donations		in kind		22,000		22,000
Grants
Grants				62,500	37,300	99,800
Other donations			and legacies
Membership		income		143,156		143,156
				530,179	246,444	776,623
				Unrestricted	Restricted	Total Funds
				Funds	Funds	2022
Donaaons
Douatious				237,269	318,333	555,602
Donations	in kind			19,650		19,650
Grants
Grants				127,000	30,382	157,382
Other donadons			and legacies
Membership		income		104,803		104,803
				488,722	348,715	837,437

6.	Charitable	activities	activities
						Umestricted	Total Funds	Unrestricted	Total Funds
						Funds	2023	Funds	2022
						8
	Own promotions		-ticket sales			683,919	683,919	532,881	532,881
	Own pmmotions		-other	income		24,236	24,236	19,180	19,180
	Hafi hires					51,213	51,213	73,014	73,014
	Recordings					16,742	16,742	7,730	7,730
	Technical					29,996	29,996	29,524	29,524
	Bars and catering services					146,888	146,888	118,591	118,591
	Boxoffice	commission		snd other income		33,552	33,552	34,603	34,603
						986,546	986,546	815,523	815,523
7.	Investment	income
						Unrestricted	Total Funds	Unrestricted	Total Funds
						Funds	2023	Funds	2022
								f.
	Bank interest receivable					152	152
8.	Other income
						Unrestricted	Total Funds	Unrestricted	Total Funds
						Funds	2023	Funds	2022
									6
	CJRS							831	831
9.	Costs ofraising		donations		and legacies
						Unrestricted	Total Funds	Unrestricted	Total Funds
						Funds	2023	Funds	2022
						6	f
	Costs ofraising		donations		and legacies
	Donations					82,043	82,043	106,049	106,049
								2023	2022
								g	6
	Fundraising	expenses						21,290	47,715
	Fundraising Allocated	salaries support casts						50,251 10,502	47,200 11,134
	Donations							82,043	106,049

Expendi	ture on	charitable activities by fund	type
			Unrestricted	Restricted	Total Funds
			Funds	Funds	2023
				6	f
Own promotions			1,136,733	10,000	1,146,733
Hires, recordings		and technical	69,846		69,846
Learning Bars and	and participation catering		70,983 103,673	69,024	140,007 103,673
Support	costs		355,163		355,163
			1,736,398	79,024	1,815,422
			Unrestricted	Restricted	Total Funds
			Funds	Funds	2022
					6
Own promotions			993,103	71,814	1,064,917
Hires, recordings		snd technical	61,202		61,202
Learning	and participation		113,968	45,126	159,094
Bars and	catering		90,841		90,841
Support	costs		360,018		360,018
			1,619,132	116,940	1,736,072

Expendit	ure on	charitable activities	by activity type
			Activities
			undertaken		Total funds	Total fund
			directly	Support costs	2023	2022
					g
Own promotions			1,146,733	262,560	1,409,293	1,335,531
Hires, recordings		and teclmical	69,846	35,008	104,854	98,318
Learning	and participation		140,007	38,509	178,516	199,921
Bars and	catering		103,673	3,501	107,174	94,552
Governance costs				15,585	15,585	7,750
			1,460,259	355,163	1,815,422	1,736,072

Analysis of	direc		t costs
						Hires,
			Own promotions		recordings and technical		Learning and participation		Bars and catering	Total	Total
				2023		2023		2023	2023	2023	2022
				f.				f.		K
Artist and concert
costs				718,653				33,669		752,322	711,547
Staffcosts				254,697		50,939		98,255	38,027	441,918	410,594
Marketing and
merchandise	costs			94,846		4,865		7,990		107,701	120,758
Utilities and
commission	costs			78,537		14,042		93	6,311	98,983	86,645
Bars and catering costs									59,335	59,335	46,510
			1,146,733			69,846	140,007		103,673	1,460,259	1,376,054
Tota12022			1,064,917			61,202	159,094		90,841	1,376,054
Analysis of	support costs
								Total funds
									2022	Total 2023	Total 2022
									6
Staffcosts									196,069	196,069	203,971
Premises									21,340	21,340	19,650
Communications			and IT						23,658	23,658	25,161
General office									16,347	16,347	17,326
Depreciation Marketing									14,678 21,275	14,678 21,275	14,396 22,569
Printing, stationery and sundries Travel expenses and entertaining Maintenance and technical									3,694 5,536 20,296	3,694 5,536 20,296	3,826 7,456 16,037
Stafftraining	and		recruitment						9,785	9,785	10,670
Professional	fees								16,647	16,647	10,647
Loan interest									5,327	5,327	7,777
Bank charges snd			commissions						511	511	532
									355,163	355,163	360,018
Net expenditure
Net expenditure		is stated		after charging/(crediting):
										2023	2022
Depreciation	oftangible			fixed assets						15,132	14,841

==> picture [429 x 33] intentionally omitted <==

==> picture [428 x 88] intentionally omitted <==

			2023	2022
			No.	No.
Full time equivalent			17	17
The number ofemployees		whose remuneration	for the year fell within the following bands, were:
			2023	2022
			No.	No.
f100,000to f,109,999			1	1
Key Management	Personnel

Tangible fixed assets
	Technical di	Fixtures,
	catering	fittings &	Musical
	equipment	computers	Instruments	Total
				8
Cost
At 1 September 2022 Additions	116,998 4,593	57,157 2,801	100,000	274,155 7,394
At 31August 2023	121,591	59,958	100,000	281,549
Depreciation At 1 September 2022	108,790	48,080	25,000	181,870
Charge for the year	4,889	5,243	5,000	15,132
At 31August 2023	113,679	53,323	30,000	197,002
Carrying amount At 31August 2023	7,912	6,635	70,000	84,547
At 31August 2022	8,208	9,077	75,000	92,285

Investments
	Shares m
	gl'sup
	undertakings
Cost or valuation
At 1September 2022 and 31August 2023
Impairment
At 1September 2022 and 31August 2023
Carrying amount
At 31August 2023	1
At 31August 2022	1

Subsidiaries	and other investmen	ts
				Percentage of
		Registered office	Class ofshare	shares held
Subsidiary	undertakings
		Council Offices, London Road,
		Saflron Walden, England,
Ssifi'on Hall	Limited	CB114ER	Ordinary	100

	2023	2022
	f
Catering and merchandise stock	4,673	5,963
Debtors
	2023	2022
	g	8
Trade debtors	59,199	32,437
Prepayments and accrued income	26,794	29,063
Other debtors	10,800	904
	96,793	62,404
Creditors: amounts faHing due within one year
	2023 f	2022
Other loans Bank loans Trade creditors	32,653 5,556 12,367	31,949 5,555 52,239
Accruals and deferred income Social security and other taxes	387,839 33,327	281,774 16,517
Other creditors	26,875	31,152
	498,617	419,186
	2023	2022
Deferred income at 1 September 2022	193,779	209,977
Ticket sales deferred during the year	258,975	167,779
Ticket sales released t'rom previous years Sponsorship income deferred during the year	(167,779) 36,200	(176,414) 26,000
Sponsorship income released from previous years	(26,000)	(33,563)
Deferred income at 31August 2023	295,175	193,779

Credi	tors: amounts faBing due after more th	an one year
		2023	2022
		g
Other Bank	loans loans	21,532 31,945	53,039 37,501
		53,477	90,540

Analysis of	charitable fu	nds
Unrestricted	funds
		At	I September				At31August
			2022	Income	Expenditure	Transfers	2023
General funds			(304,075)	1,516,877	(1,818,441)	184,008	(421,631)
Designated	Fund - fixed
asset			92,285			(7,738)	84,547
			(211,790)	1,516,877	(1,818,441)	176,270	(337,084)
		At	I September				At 31August
			2021	Income	Expenditure	Transfers	2022
General funds			(163,721)	1,305,076	(1,725,181)	279,751	(304,075)
Designated	Fund - fixed
asset			99,261			(6,976)	92,285
			(64,460)	1,305,076	(1,725,181)	272,775	(211,790)

Restricted funds
	At 1 September				At31August
	2022	Income	Expenditure	Transfers	2023
Corporate and individual
concert sponsorship		176,270		(176470)
Learning and participation		69,024	(69,024)
Opera	93,000		(10,000)		83,000
Equipment fund
Concert and marketing
assistant
SCYM Bursary		750			750
Other corporate		400			400
	93,000	246,444	(79,024)	(176,270)	84,150
	At 1 September				At 31August
	2021	Income	Expenditure	Transfers	2022
				6
Corporate and individual
concertsponsorship Learning and participation	34,000	187,207 92,126	(45,126)	(187,207) (81,000)
Opera	100,000	50,000	(57,000)		93,000
Equipment fund Concert and marketing		9,382	(6,719)	(2,663)
assistant SCYM Bursary		10,000	(8,095)	(1,905)
Other corporate
	134,000	348,715	(116,940)	(272,775)	93,000

	Unrestricted	Restricted	Total Funds
	Funds	Funds	2023
Tangible fixed assets	84,547		84,547
Investments	I		1
Current assets Creditors less than 1 year Creditors greater than 1year	130,462 (498,617) (53,477)	84,150	214,612 (498,617) (53,477)
Net liabilities	(337,084)	84,150	(252,934)
	Unrestricted	Restricted	Total Funds
	Funds	Funds	2022
Tangible fixed assets	92,285		92,285
Investments	I		1
Current assets	205,650	93,000	298,650
Creditors less than 1 year Creditors greater than I year	(419,186) (90,540)		(419,186) (90,540)
Net liabilities	(211,790)	93,000	(118,790)

					At
		At 1 Sep 2022	Cash flows	Other changes	31Aug 2023
					f,
Cash Debt Debt	at bank and in hand due within one year due after one year	230,283 (37,504) (90,540)	(117,137) 36,358	(37,063) 37,063	113,146 (38,209) (53,477)
		102,239	(80,779)	—	21,460