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← Bridges For Music

2024-12-31-accounts

Charity registration number 1154170 (England and Wales)

Company registration number 08325514

BRIDGES FOR MUSIC

ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

BRIDGES FOR MUSIC

LEGAL AND ADMINISTRATIVE INFORMATION

Trustees V Barrioseta (Resigned 1 October 2024)
E Grotefeld
R Kollmann
K Perkins
J Hulbert
W Saunders (Resigned 7 February 2025)
R MacInnes (Appointed 12 February 2025)
Charity number 1154170
Company number 08325514
Registered office Manfield House
1 Southampton Street
London
WC2R 0LR
Independent examiner Alliotts LLP
3 London Square
Cross Lanes
Guildford
GU1 1UJ

BRIDGES FOR MUSIC

CONTENTS

Page
Trustees' report 1 - 3
Statement of trustees' responsibilities 4
Independent examiner's report 5
Statement of financial activities 6
Balance sheet 7
Notes to the financial statements 8 - 18

BRIDGES FOR MUSIC

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) FOR THE YEAR ENDED 31 DECEMBER 2024

The trustees present their annual report and financial statements for the year ended 31 December 2024.

The accounts have been prepared in accordance with the accounting policies set out in note 1 to the accounts and comply with the charity's memorandum and articles of association, the Companies Act 2006 and “Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)”.

Objectives and activities

The mission of Bridges for Music (BFM) is to empower young talent from under-resourced communities through music, providing safe spaces, mental health support, 21st-century tools, mentorship and access to income opportunities in the creative industries.

The organisation continues to 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 entity) and its Bridges for Music Academy in Langa where most of the programs take place. These are:

  1. Talent Development Program

  2. Short - Courses on DJing and Music Production

  3. After-School Program

  4. Industry Access 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 2024 marked an important chapter of change and renewal for Bridges for Music UK. While fundraising conditions were more challenging than in previous years, the charity continued to build on the momentum of its 10th anniversary, supporting the growth of the program in South Africa to a total 370 students and laying the foundations for a new phase of growth across new African regions.

Fundraising highlights included a successful return of the ADE Cycle and Dinner in Amsterdam and the newly launched IMS Cycle to Ibiza, all of which reinforced Bridges for Music’s role as a social impact partner in the dance music industry. Across these events, hundreds of riders, donors, and industry supporters came together to raise vital funds for the Bridges Academy in Cape Town.

The impact of this fundraising could be seen directly in the Academy’s programmes:

2024 also marked the launch of new pilot programmes in Uganda and Mozambique, supported by alumni leadership and industry mentors, demonstrating Bridges for Music’s pan-African vision. Alumni toured internationally to festivals in Europe and Asia, while BFM Records achieved over 4 million streams, bringing local talent to the world.

BRIDGES FOR MUSIC

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024

Governance also evolved during the year. The UK Board welcomed a new trustee and reaffirmed its commitment to stronger financial stewardship and independence, aligning more and more with the communities the organisation is serving. Founder and CEO Valentino Barrioseta stepped down from UK and US board positions to ensure greater separation between governance and management.

Though income fell compared to the exceptional growth of 2023, Bridges for Music UK remained the main vehicle for fundraising and supporting the charities program in Africa and mainly at the Bridges Academy in South Africa.

Financial review

Income for the year was £346,464 (2023: £488,051), reflecting a year-on-year decrease of 29% as the charity adjusted to a more challenging fundraising environment. Fundraising events remained the core driver, generating £267,822 (2023: £371,566), while donations and gifts contributed £78,594 (2023: £116,453).

Expenditure fell to £393,207 (2023: £436,891), primarily due to increased investment in programme support and fundraising delivery. A total of £186,584 (2023: £154,447) was spent on charitable activities, enabling the continued delivery of the After-School, Talent Development, and Industry Access Programmes at the Bridges Academy in South Africa.

The charity ended the year with total funds of £158,991 (2023: £205,734) and the net result for the year was a deficit of £46,743 (2023: surplus £51,160). Of these funds, unrestricted funds were £8,043 (2023: £2,489), with the rest being restricted. Year-end cash stood at £162,301 (2023: £199,854).

The Trustees acknowledge that rebuilding unrestricted reserves will be a key priority in the years ahead, alongside diversifying fundraising income beyond event-led activities. Despite financial pressures, Bridges for Music UK remains confident in its resilience, underpinned by a committed community of donors, partners, and fundraisers, and continues to be well positioned to deliver impact for young people in South Africa and beyond.

Methods to appoint and recruit new trustees

Trustees are elected at every year's AGM. Proposed trustees can be put forward by other trustees or through formal application sent to any trustee. The criteria is to 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 (company registration number 08325514) and has no share capital. It is also a registered charity (number 1154170).

The trustees, who are also the directors for the purpose of company law, and who served during the year were:

V Barrioseta (Resigned 1 October 2024)
E Grotefeld
R Kollmann
K Perkins
J Hulbert
W Saunders (Resigned 7 February 2025)
R MacInnes (Appointed 12 February 2025)

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 to 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 Barrioseta.

The trustees' report was approved by the Board of Trustees.

BRIDGES FOR MUSIC

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024

Jonathan Hulbert

~~..............................~~ J Hulbert Jonny Hulbert (Oct 26, 2025, 3:03pm) Trustee Dated: .........................26 Oct 2025

BRIDGES FOR MUSIC

STATEMENT OF TRUSTEES' RESPONSIBILITIES

FOR THE YEAR ENDED 31 DECEMBER 2024

The trustees, 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 Standards (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 of the state 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 statements, the trustees are required to:

The trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charity 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 charity and hence for taking 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 to the trustees on my examination of the financial statements of Bridges for Music (the charity) for the year ended 31 December 2024.

Responsibilities and basis of report

As the trustees of the charity (and also its directors for the purposes of company law), you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006.

Having satisfied myself that the financial statements of the charity are not required to be audited under Part 16 of the Companies Act 2006 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. In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the Charities Act 2011.

Independent examiner's statement

Since the charity’s gross income exceeded £250,000, the independent examiner must be a member of a body listed in section 145 of the Charities Act 2011. I confirm that I am qualified to undertake the examination because I am a member of ICAEW, which is one of the listed bodies.

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the financial statements to be reached.

Christopher Cairns

Chris Cairns (Oct 27, 2025, 9:52am) Christopher Cairns

Alliotts LLP 3 London Square Cross Lanes Guildford GU1 1UJ

Dated: .........................27 Oct 2025

BRIDGES FOR MUSIC

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 31 DECEMBER 2024

Unrestricted
Restricted
funds
funds
2024
2024
Notes
£
£
Income from:
Donations and gifts
2
8,381
70,213
Fundraising
3
265,332
2,490
Investments
4
48
-
Total income
273,761
72,703
Expenditure on:
Raising funds
5
177,891
-
Charitable activities
6
86,584
100,000
Other expenditure
11
3,732
25,000
Total expenditure
268,207
125,000
Net income/(expenditure) and
movement in funds
5,554
(52,297)
Reconciliation of funds:
Fund balances at 1 January
2024
2,489
203,245
Fund balances at 31
December 2024
8,043
150,948		 Total
Unrestricted
Restricted
funds
funds
2024
2023
2023
£
£
£
78,594
11,232
105,221
267,822
326,566
45,000
48
32
-
346,464
337,830
150,221
177,891
262,200
17,000
186,584
74,447
80,000
28,732
3,244
-
393,207
339,891
97,000
(46,743)
(2,061)
53,221
205,734
4,550
150,024
158,991
2,489
203,245		 Total
2023
£
116,453
371,566
32
488,051
279,200
154,447
3,244
436,891
51,160
154,574
205,734

The statement of financial 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 2024

Notes
Fixed assets
Tangible assets
13
Current assets
Debtors
14
Cash at bank and in hand
Creditors: amounts falling due within
one year
16
Net current assets
Total assets less current liabilities
Creditors: amounts falling due after
more than one year
17
Net assets
The funds of the charity
Restricted income funds
20
Unrestricted funds
21		 2024
£
70,472
162,301
232,773
(68,318)		 £
-
164,455
164,455
(5,464)
158,991
150,948
8,043
158,991		 2023
£
36,835
199,854
236,689
(17,423)		 £
420
219,266
219,686
(13,952)
205,734
203,245
2,489
205,734

The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 31 December 2024.

The directors acknowledge their responsibilities for complying with 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 audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

26 Oct 2025

The financial statements were approved by the trustees on .........................

Jonathan Hulbert

~~..............................~~

J HulbertJonny Hulbert (Oct 26, 2025, 3:03pm)

Trustee

Company registration number 08325514 (England and Wales)

BRIDGES FOR MUSIC

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

1 Accounting policies

Charity information

Bridges for Music is a private company limited by guarantee incorporated in England and Wales. The registered office is Manfield House, 1 Southampton Street, London, WC2R 0LR.

1.1 Accounting convention

The financial statements have been prepared in accordance with the charity's Memorandum and Articles of Association, the Companies Act 2006 and “Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)” (as amended for accounting periods commencing from 1 January 2019). The charity is a Public Benefit Entity as defined by FRS 102.

The charity has taken advantage of the provisions in the SORP for charities applying FRS 102 Update Bulletin 1 not to prepare a Statement of Cash Flows.

The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2 Going concern

At 31 December 2024 the balance in total funds was £155,023. The trustees have considered this when reviewing going concern and believe that the improved performance 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 performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

Income from fundraising activities comprise funds generated from campaigns, such as cycle rides and tours.

Income from government grants is recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received. A grant that specifies performance conditions is recognised in income when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.

1.5 Expenditure

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 measured reliably.

Expenditure of charitable activities comprise the costs of the charity's program, which includes costs of running workshops and festivals.

BRIDGES FOR MUSIC

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024

1 Accounting policies

(Continued)

Governance costs include costs associated with the governance arrangements of the charity, such as independent examination, accountancy and legal fees, as well as donated administrative support.

Support costs are allocated evenly between fundraising and charitable activities as this reflects the time spent on each activity.

1.6 Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment 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

At each reporting end date, the charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

1.8 Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.9 Financial 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 its financial instruments.

Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate 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 2024

1 Accounting policies

(Continued)

Basic financial liabilities

Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate 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 at transaction price and subsequently measured at 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 benefits

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.11 Retirement benefits

Payments to defined contribution retirement benefit schemes 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 dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation are included in net income/(expenditure) for the period.

2 Income from donations and gifts

Unrestricted
Restricted
funds
funds
2024
2024
£
£
Donations and gifts
8,381
70,213
Donations and gifts
Other
8,381
70,213
8,381
70,213		 Total
Unrestricted
Restricted
funds
funds
2024
2023
2023
£
£
£
78,594
11,232
105,221
78,594
11,232
105,221
78,594
11,232
105,221		 Total
2023
£
116,453
116,453
116,453

BRIDGES FOR MUSIC

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024

3 Income from fundraising

Unrestricted Restricted Total Unrestricted Restricted Total
funds funds funds funds
2024 2024 2024 2023 2023 2023
£ £ £ £ £ £
Fundraising events 265,332 2,490 267,822 326,566 45,000 371,566

4 Income from investments

Unrestricted Unrestricted
funds funds
2024 2023
£ £
Interest receivable 48 32
Unrestricted
Restricted
funds
funds
2024
2024
£
£
Fundraising and publicity
Other fundraising costs
138,105
-
Staff costs
32,518
-
Support costs
7,268
-
177,891
-		 Total
Unrestricted
Restricted
funds
funds
2024
2023
2023
£
£
£
138,105
221,962
17,000
32,518
33,271
-
7,268
6,967
-
177,891
262,200
17,000		 Total
2023
£
238,962
33,271
6,967
279,200

BRIDGES FOR MUSIC

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024

6 Expenditure on charitable activities

Charitable Charitable
activities activities
2024 2023
£ £
Direct costs
Staff costs 36,486 33,271
School running costs 100,000 80,000
136,486 113,271
Share of support and governance costs (see note 7)
Support 40,130 32,455
Governance 9,968 8,721
186,584 154,447
Analysis by fund
Unrestricted funds 86,584 74,447
Restricted funds 100,000 80,000
186,584 154,447
7 Support costs allocated to activities
2024 2023
£ £
Depreciation 420 421
Travelling 7,268 6,967
HR costs 4,737 5,205
Project management 32,995 24,279
Website 497 1,064
Bank and other charges 1,481 1,486
Governance costs 9,968 8,721
57,366 48,143
Analysed between:
Fundraising 7,268 6,967
Charitable activities 50,098 41,176
57,366 48,143

BRIDGES FOR MUSIC

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024

7
Support costs allocated to activities
Governance costs comprise:
Accountancy
Bookkeeping
8
Net movement in funds
The net movement in funds is stated after charging/(crediting):
Fees payable for the independent examination of the charity's financial
statements
Depreciation of owned tangible fixed assets		 (Continued)
2024
2023
£
£
3,319
2,448
6,649
6,273
9,968
8,721
2024
2023
£
£
-
-
420
421		 (Continued)
2024
2023
£
£
3,319
2,448
6,649
6,273
9,968
8,721
2024
2023
£
£
-
-
420
421
8,721
2023
£
-
421

9 Trustees

During the year, remuneration of £47,540 (2023: £58,414) was paid to a trustee as part of a service agreement for services provided on behalf of the charity.

10 Employees

2024 2023
Number Number
1 1
Employment costs 2024 2023
£ £
Wages and salaries 59,690 58,414
Social security costs 7,736 6,808
Other pension costs 1,578 1,320
69,004 66,542
The number of employees whose annual remuneration was more than £60,000
is as follows:
2024 2023
Number Number
£60,001 to £70,000 1 -

BRIDGES FOR MUSIC

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024

10 Employees

(Continued)

Remuneration of key management personnel

The remuneration of key management personnel was as follows:

2024 2023
£ £
Aggregate compensation 70,523 67,928

11 Other expenditure

Unrestricted
Restricted
funds
funds
2024
2024
£
£
Financing costs
3,732
-
Other expenditure
-
25,000
3,732
25,000		 Total
Unrestricted
Restricted
funds
funds
2024
2023
2023
£
£
£
3,732
3,244
-
25,000
-
-
28,732
3,244
-		 Total
2023
£
3,244
-
3,244

12 Taxation

As a registered charity, Bridges for Music is not liable to taxation on it charitable activities.

13 Tangible fixed assets

Tangible fixed assets
Computers
£
Cost
At 1 January 2024 2,420
At 31 December 2024 2,420
Depreciation and impairment
At 1 January 2024 2,000
Depreciation charged in the year 420
At 31 December 2024 2,420
Carrying amount
At 31 December 2024 -
At 31 December 2023 420

BRIDGES FOR MUSIC

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024

14
Debtors
Amounts falling due within one year:
Trade debtors
Prepayments and accrued income
15
Loans and overdrafts
Directors' loans
Payable within one year
Payable after one year		 2024
£
62,477
7,995
70,472
2024
£
10,888
5,424
5,464		 2023
£
36,835
-
36,835
2023
£
19,376
5,424
13,952

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

Notes
Borrowings
Other taxation and social security
Deferred income
18
Trade creditors
Other creditors
17
Creditors: amounts falling due after more than one year
Borrowings
18
Deferred income
Other deferred income		 2024
£
5,424
1,963
55,000
3,664
2,267
68,318
2024
£
5,464
2024
£
55,000		 2023
£
5,424
3,640
-
6,092
2,267
17,423
2023
£
13,952
2023
£
-

Deferred income is included in the financial statements as follows:

BRIDGES FOR MUSIC

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024

18
Deferred income
Deferred income is included within:
Current liabilities
Movements in the year:
Deferred income at 1 January 2024
Resources deferred in the year
Deferred income at 31 December 2024
19
Retirement benefit schemes
Defined contribution schemes
Charge to profit or loss in respect of defined contribution schemes		 (Continued)
2024
2023
£
£
55,000
-
-
-
55,000
-
55,000
-
2024
2023
£
£
1,578
1,320		 (Continued)
2024
2023
£
£
55,000
-
-
-
55,000
-
55,000
-
2024
2023
£
£
1,578
1,320
-
-
-
2023
£
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 charity in an independently administered fund.

20 Restricted funds

The restricted funds of the charity comprise the unexpended balances of donations and grants held on trust subject to specific conditions by donors as to how they may be used.

At 1
Pioneer DJ Studio
Scholarships
Defected Records Equipment
Market Campaigns
Fundraising
Counselling		 January
2024
Incoming
resources
Resources
expended
At 31
December
2024
£
£
£
£
132,950
-
-
132,950
25,295
34,297
(41,594)
17,998
-
34,000
(34,000)
-
45,000
-
(45,000)
-
-
2,490
(2,490)
-
-
1,916
(1,916)
-
203,245
72,703
(125,000)
150,948		 January
2024
Incoming
resources
Resources
expended
At 31
December
2024
£
£
£
£
132,950
-
-
132,950
25,295
34,297
(41,594)
17,998
-
34,000
(34,000)
-
45,000
-
(45,000)
-
-
2,490
(2,490)
-
-
1,916
(1,916)
-
203,245
72,703
(125,000)
150,948
150,948

BRIDGES FOR MUSIC

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024

20
Restricted funds
Previous year:
At 1
Pioneer DJ Studio
Scholarships
Defected Records Education
Market Campaigns
Fundraising		 (Continued)
January
2023
Incoming
resources
Resources
expended
At 31
December
2023
£
£
£
£
132,950
-
-
132,950
17,074
64,221
(56,000)
25,295
-
33,000
(33,000)
-
-
45,000
-
45,000
-
8,000
(8,000)
-
150,024
150,221
(97,000)
203,245

21 Unrestricted funds

The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.

At 1
General funds
Previous year:
At 1
General funds
Analysis of net assets between funds
At 31 December 2024:
Current assets/(liabilities)
Long term liabilities		 January
2024
Incoming
resources
Resources
expended
At 31
December
2024
£
£
£
£
2,489
273,761
(268,207)
8,043
January
2023
Incoming
resources
Resources
expended
At 31
December
2023
£
£
£
£
4,550
337,830
(339,891)
2,489
Unrestricted
Restricted
Total
funds
funds
2024
2024
2024
£
£
£
13,507
150,948
164,455
(5,464)
-
(5,464)
8,043
150,948
158,991

22 Analysis of net assets between funds

BRIDGES FOR MUSIC

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024

22 Analysis of net assets between funds (Continued)
Unrestricted Restricted Total
funds funds
2023 2023 2023
£ £ £
At 31 December 2023:
Tangible assets 420 - 420
Current assets/(liabilities) 16,021 203,245 219,266
Long term liabilities (13,952) - (13,952)
2,489 203,245 205,734

23 Related party transactions

There were no disclosable related party transactions during the year (2023 - none).

Issuer

Alliotts LLP

Document generated Wed, 15th Oct 2025 12:01:16 BST Document fingerprint d087e361e39eb0c21b6377150a48358e

Parties involved with this document

Document processed

Party + Fingerprint

Sun, 26th Oct 2025 15:03:08 GMT Mon, 27th Oct 2025 9:52:21 GMT Mon, 27th Oct 2025 9:58:36 GMT Mon, 27th Oct 2025 9:58:36 GMT

Jonny Hulbert - Signer (9112826327b3b9a962781cc60876f3ad) Chris Cairns - Signer (ebdb09e1296e2ede404f664a08e8b0f1) Elizabeth Clarke - Signer (171e5a41e044989e3cbdbb3abe175ad2) Bianca Kaiser - Copied In (d66193f03c7df593e20c7424ad3a77ef)

Audit history log

Date

Action

Wed, 15th Oct 2025 12:01:16 BST Wed, 15th Oct 2025 12:01:17 BST

Wed, 15th Oct 2025 12:01:24 BST

Wed, 15th Oct 2025 12:01:32 BST Wed, 15th Oct 2025 12:01:41 BST

Wed, 15th Oct 2025 12:10:36 BST

Wed, 15th Oct 2025 12:10:36 BST Mon, 20th Oct 2025 12:02:03 BST Tue, 21st Oct 2025 13:55:40 BST Tue, 21st Oct 2025 13:55:48 BST Sat, 25th Oct 2025 12:03:12 BST Sun, 26th Oct 2025 14:59:02 GMT Sun, 26th Oct 2025 14:59:09 GMT Sun, 26th Oct 2025 15:01:50 GMT Sun, 26th Oct 2025 15:01:56 GMT

Envelope generated by Alliotts Guildford Support (94.228.44.8) Document generated with fingerprint d087e361e39eb0c21b6377150a48358e (94.228.44.8) Document generated with fingerprint c5a4ad69464f5b39fd0d6339f6035079 (94.228.44.8) Document generated with fingerprint f0edef8d40bfc07442a00255d1fa680a (94.228.44.8) Document generated with fingerprint 937ffa3b7890d65aff95384da802bb60 (94.228.44.8) Sent the envelope to Jonny Hulbert (jonnyhulbert@gmail.com) for signing (94.228.44.8) Document emailed to jonnyhulbert@gmail.com Document emailed to jonnyhulbert@gmail.com Jonny Hulbert opened the document email. (66.249.93.100) Jonny Hulbert viewed the envelope (150.228.85.184) Document emailed to jonnyhulbert@gmail.com Jonny Hulbert opened the document email. (104.28.98.105) Jonny Hulbert viewed the envelope (31.31.60.29) Jonny Hulbert opened the document email. (66.249.93.101) Jonny Hulbert viewed the envelope (31.31.60.29)

Sun, 26th Oct 2025 15:03:08 GMT Sun, 26th Oct 2025 15:03:08 GMT

Sun, 26th Oct 2025 15:03:08 GMT Sun, 26th Oct 2025 15:06:04 GMT Mon, 27th Oct 2025 9:46:11 GMT Mon, 27th Oct 2025 9:46:35 GMT Mon, 27th Oct 2025 9:52:21 GMT Mon, 27th Oct 2025 9:52:21 GMT

Mon, 27th Oct 2025 9:52:23 GMT Mon, 27th Oct 2025 9:52:29 GMT Mon, 27th Oct 2025 9:58:25 GMT Mon, 27th Oct 2025 9:58:36 GMT Mon, 27th Oct 2025 9:58:36 GMT

Mon, 27th Oct 2025 9:58:36 GMT Mon, 27th Oct 2025 9:58:38 GMT

Jonny Hulbert signed the envelope (31.31.60.29) Sent the envelope to Chris Cairns (chris.cairns@alliotts.com) for signing (31.31.60.29) Document emailed to chris.cairns@alliotts.com Chris Cairns opened the document email. (172.226.134.2) Chris Cairns viewed the envelope (2.98.246.209) Chris Cairns viewed the envelope (85.210.241.4) Chris Cairns signed the envelope (2.98.246.209) Sent the envelope to Elizabeth Clarke (elizabeth.clarke@alliotts.com) for signing (2.98.246.209) Document emailed to elizabeth.clarke@alliotts.com Elizabeth Clarke opened the document email. (172.186.8.69) Elizabeth Clarke viewed the envelope (94.228.44.8) Elizabeth Clarke signed the envelope (94.228.44.8) Sent the envelope to Bianca Kaiser (bianca@bridgesformusic.org) for signing (94.228.44.8) This envelope has been signed by all parties (94.228.44.8) Document emailed to bianca@bridgesformusic.org