Charity registration number 1154170
Company registration number 0832S514 {England and Wales)
BRIDGES FOR MUSIC
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

BRIDGES FOR MUSIC
LEGAL AND ADMINISTRATIVE INFORMATION
Trustees
L Mangsel
V Barriosela
E Grolefeld
R Kollmann
K Perkins
J Hulbert
W Saunders
{Resigned 11 May 20231
Charlty number
1154170
Company number
08325514
Registered office
Manfield House
1 Southampton Street
London
INC2R OLR
Independent examiner
Alliotts LLP
3 London Square
Cross Lanes
Guildford
GU1 1UJ

BRIDGES FOR MUSIC
CONTENTS
Pagg
Trustees. report
statement of trustees. responsibilities
Independent examinerfs report
Stslemenl of financial activities
Balance sheet
Notes lo the financial statements
8-17

BRIDGES FOR MUSIC
TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT)
FOR THE YEAR ENDED 31 DECEMBER 2023
The trustees present their annual report and financial statements for the year ended 31 December 2023.
The accounts have been prepared in accordance with the accounting policies sel out in note 1 to accounts
and comply wth the charity's memorandum and articles of association, the Companies Act 2006 and
'Accounling and Reporting by Charities". Statement of Recommended Practice applicable lo charities preparing
their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland
IFRS 1021 (effective 1 JanLJary 20191°.
ObJectlves and actlvltles
The mission of Bridges for Music IBFMI is to empower young talent from under-resourced communities through
music, providing safe Spa￿$, mental health support, 2lsl-￿ntury tools, mentorship and access to income
opportunities in the creative Industries.
The organisalion continues lo build on its ethos of utilizing music as a tool for positive social impact, focusing
mainly on South Africa through its partners Bridges for Music NPC (South African enlityl and ils Bridges for Music
Academy in Langa where most of the programs tske place. These are..
1. Talent Development Program
2. Short- Courses on DJing and Music Production
3. After-school Program
4. lnduslryA￿SS Program (Employment creation)
The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the
charity should undertake.
Achievements and performance
The year 2023 marked the 10th anniversary of Bridges for Music, a yèar in which the ¢hari(y focused on
building organyzalional robustness while expanding its ¢harV(able activities. Vlfith 274 students enrolled across all
programs, the organizalion continued lo invest in quality program delivery, monitoring, and evaluation, laying the
foundation for future growth and a better understsnding of the impact achieved.
The After4chool Program al the Bridges Academy in Cape Town continued lo thrive, providing vital creative
arts education lo young people aged 10 10 18 from under-resourced communities, focusing mainly on mental
health gains. Another key achievement was the growth of the Industry Access Program, which helped
graduates from the Talent Development Progrsm secure income-generaling opportunities in the creative
industries, supporting their transition from education lo employment.
Financially, the charity saw strong growth. with totsl Incom& Increaslng by 60.3% 10 £488.051, driven primarily
by a 90.2% Incroase In fundralslng Income. Over 800 pgople participated in the various ftjndraising events
hosted in London, Amsterdam, Ibiza, Cape Town and Johannesburg. This finanaal growth enabled the charity lo
end the year with a healthy level of reserves, which a clear goal sel by the board.
Over811, 2023 was a year of both organizalional and programmatic growth, leaving the organisalion in a healthy
position lo continue growing its impact over the next decade.

BRIDGES FOR MUSIC
TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED
FOR THE YEAR ENDED 31 DECEMBER 2023
Flnanclal revlew
2023 marked the 10th year of Bridges for Music, a significant milestone as the charity continued its mission to
support music education and employment opportunities in under-resourced communities. The year saw notable
income and program delivery growth, reflecting the charity's strengthened fundraising efforts and expanding
operations.
Income for the period was £488.05112022'. £304,440), representing a Yoy Increase of 60.30A. This growth was
primarily driven by fundraising activities, which generated £371,566, up from £195,333 in the prior year, a Yoy
Increase of 90.2Yo. This increase came mainly from the success of our ADE Cycle and Dinner and an
improvement in our London Gala Dinner results. Donations and gifts also rose to £116,453, up from £109,107
in 2022, reflecting a Yoy incraasa of £.7°h, while investment income added £32, contributing to the overall
growth.
Expenditure for the year was £436,891 12022.. £355,906), reflecting a Yoy increase of 22.8%. This rise can be
attributed lo the growth in charitable activity in South Africa, particularly the expansion of the After-school
Program and the Employment Pathways Program, which aim lo provide work placements and real-wodd
experience for graduates. Total funds spent on charitable activities amounted lo £154.447, demonstrating a
focused investment in program delivery and operational robustness.
Restricted funds saw a significant increase from £150,024 to £203,245, reflecting a Yoy growth of 35.4°A, as
donations continued to support specific initiatives such as the Talent Development Program and support lo
continue Improving the facilities of the Bridges Academy In South Africa. However, unrestricted funds slightly
decreased lo £2,48912022." £4,550), showing a Yoy decline of 45.3%, primarily due to Increased expenditure in
fundraising and operational aclivilies.
Overall, 2023 was a year of financial growth, with the charty achieving a net Income of £51.160 (compared lo a
deficit of £51,466 in 20221. Al year-end, the cash balance was £199,854. reflecting the charity's wnlinued efforts
to bLJild its reserves to cover Six months of operating wsts in ¢a$e of future uncertainties.
Methods to appoint and recruit new trustees
Trustees are elected al every year's AGM. Proposed trustees can be pul forward by other trustees or through
formal application sent to any Iruslee. The criteria is lo keep a diverse board with different sets of skills and social
backgrounds. The aim of the charity Is to pursue inclusion and diversity on a board level.
Structure. governance and management
Bridges for Music Is a company limited by guarantee Icompany registration number 083255141 and has no share
capital.11 is also a registered charity (number 11541701.
The trustees, who are also the directors for the purpose of company law, and who served during the year were..
L Mangsel
V Barriosela
E Grotefeld
R Kollmann
K Perkins
J Hulbert
W Saunders
(Resigned 11 May 20231
The memorandum and articles of association of the company govern the appointment of trustees.
None of the trustees has any beneficial interest in the company. All of the trustees are members of the company
and guarantee lo contribute £1 in the event of a winding up.
The trustees determine the general policy of the charity. The day to day management of the charity is delegated
to V Barriosets.

BRIDGES FOR MUSIC
TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED
FOR THE YEAR ENDED 31 DECEMBER 2023
BFM UK has assisted the foundation of BFM US, which is now a 501 Icl3 tsx exempt organisalion in the US. A
big important slep for the organisalion lo grow and raise funds in the US wilhoul the need of fiscal sponsors.
It has also provided the structure to create BFM South Africa and run the operations in the South African territory.
Both BFM US and BFM SA are now independent entities that wll operate with its own teams and funding and will
have to pay back to BFM UK the money loaned for its creatlDn.
BFM UK will now focus on the European fundraising events and the membership program in the UKI European
territory, channelling the funding lo the program in South Africa.
Advantage has been taken of the small companies exemption.
The trustees, report was approved by the Board of Trustees.
J Hulbert
Trustee
2510912024

BRIDGES FOR MUSIC
STATEMENT OF TRUSTEES. RESPONSIBILITIES
FOR THE YEAR ENDED 31 DECEMBER 2023
The Iruslees, who are also the directors of Bridges for Music for the purpose of company law, are responsible for
preparing the Trustees, Report and the financial statements in accordance with applicable law and United Kingdom
Accounting Stsndards (United Kingdom Generally Accepted Accounting Practice).
Company Law requires the trustees to prepare financial statements for each financial year which give a true and fair
view Df the stale of affairs of the charity and of the incoming resources and application of resources, including the
income and expenditure, of the charitable company for that year.
In preparing these financial stslemenls, the trustees are required to".
select suitable accounting policies and then apply them consistently.,
observe the methods and principles in the Charities SORP.,
make judgements and eslimales that are reasonable and prudent.,
slate whether applicable UK Accounting Stsndards have been followed, subject lo any material departures
disclosed and explained in the financial slalements", and
prepare the financial stslements on the going concern basis unless il is inappropriate to presunE that the charity
will continue in operation.
The trustees are responsible for keeping adequate accounting records that disdose with reasonable accuracy at
any time the financial position of the charity and enable them lo ensure that the financial statements Comply with the
Companies Act 2006. They are also responsible for safeguarding the assets of the charity and hence for tsking
reasonable steps for the prevention and detection of fraud and other irregularities.

BRIDGES FOR MUSIC
INDEPENDENT EXAMINER'S REPORT
TO THE TRUSTEES OF BRIDGES FOR MUSIC
I report lo the trustees on my examination of the financial statements of Bridges for Music (the d)arilyl for the year
ended 31 December 2023.
Responsibilities and basis of report
As the trustees of the charty land also ils directors for the purposes of company lawl you are responsible for the
preparation of the finanryal ststemenls in accordance wth the requirements of the Companies Act 20(fi (the 2006
Acll.
Having satisfied myself that the financial statements of the charity 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 the charity's
financial statements carried out under section 145 of the Charities Act 2011 Ilhe 2011 Actl. In carrying out my
examination I have followed all the applicable Directions given by the Charity Commission under section 14515llbl
of the 2011 Act.
Independent examinerfs ststement
Since the Charity's gross income exceeded £250,000 your examiner musl be a member of a body listed in section
145 of the 2011 Act. I confirm that l am qualified lo undertake the examination because l am a member of ICAEW,
which is one of the listed bodies.
I have completed my examination. I confimi that no matters have Come lo my attention in connection with the
examination giving me cause lo believe that in any material respect..
accounting records were not kept in respect of the charity as required by section 386 of the 2006 Act., or
the financial stslements do not accord with those records,. or
the financial statements 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 financial slalements have not been prepared in accordance with the methods and principles of the
Statement of Recommended Practice for accounting and reporting by Charities applicable lo charities
preparing their accoLJnts in accordance wth the Financial Reporting Standard applicable in the UK a￿1
Republic of Ireland IFRS 1021.
I have no ¢oncems and have Come across no other mallers in Connection with the examination to which attention
should be drawn in this report in order to enable a proper understanding of the finanryal statements lo be reached.
Christopher Cairns
Alliotts LLP
3 London Square
Cross Lanes
Guildford
GU11UJ
Dated".

BRIDGES FOR MUSIC
STATEMENT OF FINANCIAL ACTIVITIES
INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 DECEMBER 2023
Unrestrlcted Restrlcted
funds
funds
2023
2023
Total Unrestrlcted Restrlcted
funds
funds
2022
2022
Totsl
2023
2022
Notes
In¢om9 from:
Donations and gifts
Fundraising
Investments
11,232
326,566
32
105,221
45,000
116,453
371,566
32
39,945
195,333
69,162
109,107
195,333
Totsl Income
337,830
150,221
488,051
235.278
89,162
304,440
Expenditure on-
Raising funds
Charitable activities
Other expenditure
262,200
74,447
3,244
17,000
80,000
279,200
154,447
3,244
160,992
191,934
2,980
160,992
191,934
2,980
11
Total expenditure
339,891
97,000
436,891
355,906
355,906
Net incomellexpenditurel and
movement in funds
12,0611
53,221
51,160
1120,6281
69,162
151,4661
Reconciliation of funds-
Fund balances al 1 January
2023
4,550
150,024
154,574
125,178
80,862
206,040
Fund balances at 31
December 2023
2,489
203,245
205,734
4,550
150,024
154,574
The statement of finanryal activities includes all gains and losses recognised in the year. All income and expenditure
derive from continuing activities.

BRIDGES FOR MUSIC
BALANCE SHEET
AS AT 31 DECEMBER 2023
2023
2022
Notes
Fixed assets
Tangible assets
13
420
841
Current assets
Debtors
Cash at bank and in hand
14
36,835
199,854
37,658
144,759
236,689
182,417
Credltots: amounts falllng due wlthln
one year
16
117,4231
15,6921
Net current assets
219,266
176,725
Totsl assets less current liabilities
219,686
177,566
Creditors: amounts falling due after
more than one year
17
113,9521
122,9921
Net assets
205,734
154,574
The funds ofthe charity
Reslriclèd income funds
Unrestricted funds
19
20
203,245
2,489
150,024
4,550
205,734
154,574
The company is entitled to the exemption from the audit requirement contsined in section 477 of the Companies Act
2006, for the year ended 31 De￿mber 2023.
The directors acknowledge their responsibilities for complying wth the requirements of the Companies Act 2006
with respect to accounting records and the preparation of financial statements.
The members have not required the company to obtain an aLJdit of its financial statements for the year in quesb'on in
accordance with section 476.
These financial ststements have been prepared in accordan￿ ¥Mth the provisions applicable to companies subject
to the small companies regime.
2510912024
The financial stslemenls were approved by the Iruslees on .
J Hulbert
Trustee
Company registration number 08325514 (England and Wales)

BRIDGES FOR MUSIC
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
Accountlng pollcles
Charity infomiation
Bridges for Music is a private Company limrted by guarantee incorporated in England and Wales. The
registered office is Manfield HoLJse, 1 Southampton Street, London, WC2R OLR.
1.1 Accountlng conventlon
The financial statements have been prepared in accordan￿ with the charity's Memorandum and Artides of
Association,
the Companies Act 2006 and 'Accounting and Reporting by Charities.. Slalement of
Recommended Practice applicable lo charities preparing their accounts in accordance with the Financial
Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 las amended for accounting
periods commencing from 1 January 20191. The charity is a Public Benefit Enlily as defined by FRS 102.
The charity has tsken advantage of the provisions in the SORP for charities applying FRS 102 Upd* Bulletin
1 not to prepare a Statement of Cash Flows.
The financial statements are prepared in sterting, which is the functional currency of the charity. Monetary
amounts in these financial ststements are rounded to the nearest £.
The financial slalements have been prepared under the historical cost convention. The principal accounting
policies adopted are sel out below.
1.2 Golng concern
Al 31 December 2023 the balan￿ in lolal funds was £205,734. The trustees have considered this when
reviewing going concern and believe that the improved perforrnan￿ of the charity this financial period is
indicative of future continued results.
1.3 Charitable funds
Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable
objectives.
1.4 Income
Income is recognised when the charity is legally entitled to it after any performance Conditions have been met,
the amounts can be measured reliably, and it is probable that income will be received.
Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified
of the donation, unless perfomance cond(tions require deferral of the amount. Income lax recoverable in
relation lo donations received under GiftAid or deeds of covenant is recognised at the lime of the donation.
Income from fundraising activities comprise fLJnds generated from campaigns, such as cycle rides and tours.
Income from government grants is recognised al the fair value of the asset re¢eived or receivable when there
is reasonable assurance that the grant conditions will be met and the grants will be re￿ived. A grant that
specifies performance conditions is recognised in income when the performance conditions are met. Vlhere a
grant does not specify performance conditions it is recognised in income when the proceeds are recewed or
receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.
1.5 Expendlture
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligations committing the
charity to that expenditure, it is probable that settlement will be requires and the amount of the obligation can
be measuied reliably.
Expenditure of charitable activities comprise the costs of the charity's pr￿ram, which includes (￿SIS of
running workshops and festy'vals.

BRIDGES FOR MUSIC
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
A¢¢ounllng poll¢lg$
Icontlnuedl
Governance costs indude costs associated with the governan￿ arrangements of the charity, such as
independent examinatign, accountsncy and legal fees, as well as donated administrative support.
Support costs are allocated evenly between fundraising and charitsble activities as this reflects the lime spent
on each activity.
1.6 Tangible fixed assets
Tangible fixed assets are inrtially measured al cost and subsequently measured al cost or valuation, net of
depreciation and any impaimient losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their
useful lives on the following bases..
Computers
3 years
1.7 Impairment of fixed assets
Al each reporting end dale, the charity reviews the carrying amounts of its tangible assets to determine
whether there is any indication that those assets have suffered an impaimienl loss. If any such indication
exists, the recoverable amount of the asset is eslimaled in order lo determine the extent of the impairment
loss lif any).
1.8 Cash and cash equivalents
Cash and cash equivalents Include cash in hand, deposits held at call with banks, other short-lerm liquid
investments with original malurilies of three months or less, and bank overdrafts. Bank overdrafts are shown
¥Mthin borrowings in current liabilities.
1.9 Flnanclal Instruments
The charity has elected to apply the provisions of Section 11 'Basic Financial Instruments, and Section 12
'other Financial Instruments Issues, of FRS 102 to all of ils financial inslrumenls.
Financial instruments are recognised in the charity's balance sheet when the charity becomes party lo the
conlraclual provisions of the Inslrumenl.
Financial assets and liabilities are offset, with the net amounts presented in the financial slatemenls, when
there is a legally enforceable right lo set off the recognised amounts and there is an intention lo sellle on a net
basis or to realise the asset and setue the liability simLJltaneously.
BasiTC financial assets
Basic financial assets, which indude debtors and cash and bank balan￿s, are initially measured at
transaction price including transaction costs and are subsequently carried al amortised cost using the effective
interest method unless the arrangement conslilules a financing Iransaclion, where the transaction is
measured al the present value of the future receipts discounted al a market rale of interest. Financial assets
classified as receivable within one year are not amortised.

BRIDGES FOR MUSIC
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
A¢¢ounllng poll¢lg$
Icontlnuedl
Basic financial liabilities
Basic financial liabilities, including creditors and bank loans are initially recognised al transaction price unless
the arrangement conslilules a financing Iransaclion, where the debt instrument is measured al the prèsent
value of the future payments discounted at a market rale of interest. Financial liabilities classified as payable
thin one year are not amortised.
Debt instruments are subsequenuy carried al amortised cost. using the effective interest rale method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of
operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one
year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially al
transaction pricè and subsequenuy measured al amortised cost using the effective interest method.
Derecognition of financial liabilities
Financial liabilities are derecognised when the charity's contractual obligations expire or are discharged or
cancelled.
1.10 Employee beneflts
The cost of any unused holiday enliuement is recognised in the period in which the employee's services are
received.
Temiination benefits are recognised immediately as an expense when the charity is demonstrably committed
lo leiminale the employment of an employee or to provide termination benefits.
1.11 Retirement benefits
Payments to defined contribution retirement benefit ￿heMeS are charged as an expense as they fall due.
1.12 Foreign exchange
Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the
dales of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in
foreign currencies are retranslated al the rates prevailing on the reporting end date. Gains and losses arising
on translation are included in nel Incomellexpenditurel for the period.
Income from donations and gifts
Unrestricted Restricted
funds
fund5
2023
2023
Total Unrestricted Restricted
funds
funds
2022
2022
Total
2023
2022
Donations and gifts
11,232
105,221
116,453
39,945
69,162
109,107
Donations and gifts
Other
11,232
105,221
116,453
39,945
69,162
109,107
11,232
105,221
116,453
39,945
69,162
109,107
10-

BRIDGES FOR MUSIC
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
Income from fundralslng
Unrestricted Restricted
funds
funds
2023
2023
Total Unrestricted Restricted
funds
funds
2022
2022
Total
2023
2022
Fundraising events
326,566
45,000
371,566
195,333
195,333
Income from Investments
Unrestricted Unrestricted
funds
funds
2023
2022
Interest receivable
32
Expendlture on ralslng funds
Unrestrlcted Restrlcted
funds
funds
2023
2023
Total Unrestrl¢ted Restrlcted
funds
funds
2022
2022
Total
2023
2022
Fundraising and publicty
Other fundraising costs
Staff costs
Support costs
221.962
33,271
6,967
17,000
238.962
33,271
6,967
117.541
32,303
11,148
117,541
32,303
11,148
262,200
17,000
279,200
160,992
160,992

BRIDGES FOR MUSIC
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
Expendlture on charltsble actlvltles
Charitable
activities
2023
Charitable
activities
2022
Dlrect costs
staff costs
School construction
School running costs
33,271
32,303
147,351
80,000
113,271
179,654
Share of support and governance costs (see note 71
Support
Governance
32,455
8,721
3.914
8,366
154,447
191,934
Analy$l$ by fund
Unrestricted funds
Restricted funds
74,447
80,000
191,934
154,447
191,934
Support costs allocated to actlvltles
2023
2022
Depreciation
Bridges for Music ISAI overheads
Travelling
HR costs
Project management
Website
Online marketing
Bank and other charges
Governance costs
421
588
31
11,148
6,967
5,205
24,279
1,064
1,608
869
818
8,366
1,486
8,721
48,143
23,428
Analysed bglween:
Fundraising
Charrtable activits'es
6,967
41,176
11,148
12,280
48,143
23,428
12-

BRIDGES FOR MUSIC
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
Support ¢o$ts allocated lo a¢tlvltl8s
Icontlnuedl
2023
2022
Governance costs comprise..
Accountancy
Bookkeeping
2,448
6,273
2,448
5,918
8,721
8,366
Net movement in funds
2023
2022
The nel movement in funds is slated after chargingllcredits"ngl'.
Depreciation of owned tangible fixed assets
421
588
Trustees
One of the Iruslees12022.' 11 received remuneration during the year of £58,41412022.. £56,400) as part of a
service agreement for services provided on behalf of the charity.
Al the year end, the trustee was owed £19,37612022'. £22,992) by the charity for unpaid salaries and other
expenses incurred during the years on behaK of the charity.
10 Employees
2023
Number
2022
Number
Employment costs
2023
2022
Wages and salaries
Social security costs
Olhei pension costs
58,414
6,808
1,320
56,400
6,886
1,320
66,542
64,606
There were no employees whose annual Temuneralion w85 more than £60,000.
13-

BRIDGES FOR MUSIC
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
10 Employ99$
Icontlnuedl
Rgmun8ration of kay management p&rsonn81
The remuneration of key management personnel was as follows..
2023
2022
Aggregate compensation
67,928
64,605
11
Other expenditure
Unrestricted Unrestricted
funds
funds
2023
2022
Financing costs
3,244
2,980
12 Taxation
As a registered charity, Bridges for Music is not liable to taxation on it charitable activities.
13 Tanglble flxed assets
Computers
Co$t
Al 1 January 2023
2,420
At 31 De￿mber 2023
2,420
Depreciation and impairment
Al 1 January 2023
Depreciation charged in the year
1,579
421
Al 31 December 2023
2,000
Carrying amount
Al 31 December 2023
420
Al 31 December 2022
841
14 Debtors
2023
2022
Amounts falling due within one year:
Trade debtors
36,835
37,658
14-

BRIDGES FOR MUSIC
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
15 Loans and overdrafts
2023
2022
Directors. loans
19,376
22,992
Payable wthin one year
Payable after one year
5,424
13,952
22,992
Borrowings relate to amounts owed to a director for expenses incurred on behalf of the charity. It is expected
that this will be settled within 1-2 years.
16 Creditors: amounts falling due within one year
2023
2022
Borrowngs
Other taxation and social security
Trade credilois
Other creditors
5,424
3,640
6,092
2,267
1,730
311
3,651
17,423
5,692
17 Credltors: amounts falllng du9 after mor9 than ong year
2023
2022
Boirowings
13,952
22,992
18 Retlr&ment ￿nfjflt schemes
2023
2022
Defined contribution schemes
Charge to profit or loss in respect of defined contribution schemes
1,320
1,320
The charity operates a defined contribution pension scheme for all qualifying employees. The assets of the
scheme are held separately from those of the ¢harty in an independently administered fund.
15-

BRIDGES FOR MUSIC
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
19 Restrlcted funds
The restricted funds of the charity comprise the unèxpended balances of donations and grants held on trust
subject lo specific conditions by donors as lo how they may be used.
At 1 January
2023
Incoming
resources
Resources
expended
At31
December
2023
Pioneer DJ Studio
Scholarships
Defected Records Education
Market Campaigns
Fundraising
132,950
17,074
132,950
25,295
64,221
33,000
45.000
8,000
156,0001
133,0001
45,000
18,0001
150,024
150,221
197,0001
203,245
Previous year-
At 1 January
2022
Incoming
resources
Resources
expended
At31
December
2022
Pioneer DJ Studio
Scholarships
78,450
4,412
56,500
12,662
132.950
17,074
80,862
69,162
150,024
20 Unrestricted funds
The unrestricted funds of the charty comprise the unexpended balances of donations and grants which are
not subject to specific conditions by donors and grantors as lo how they may be used. These indude
designated funds which have been sel aside out of unreslricled funds by the trustees for specific purposes.
At 1 January
2023
Incoming
resources
Resources
expended
At31
December
2023
General funds
4,550
337,830
1339,8911
2,489
Previous year:
At 1 January
2022
Incoming
resources
Resources
expended
At31
December
2022
General funds
125,178
235,278
1355.9061
4,550
16-

BRIDGES FOR MUSIC
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
21 Analysls of net assets between funds
Unrestricted
funds
2023
Re$trict9d
funds
2023
Totsl
2023
At 31 December 2023-
Tangible assets
Current assetsllliabililiesl
Long temi liabilities
420
16,021
113,9521
420
219,266
113,9521
203,245
2,489
203,245
205,734
Unrestricted
funds
2022
Restricted
funds
2022
Total
2022
At 31 December 2022:
Tangible assets
Current assetsllliabililiesl
Long temi liabilities
841
176,725
122.9921
26,701
122,9921
150,024
4,550
150,024
154,574
22 Related party transactions
There were no disclosable related paty transactions during the year12022 - none).
17-