**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:
- The **Creative Club** after-school programme reached 83 students aged 11–14, offering a safe space, nutritious meals, and creative expression through music, dance, and art.
- The **Talent Development Programme** enrolled 48 students across two cohorts, deepening support for young creatives with skills training, mentorship, and career readiness.
- The **Industry Access Programme** created more than 340 placements distributed among 68 students, generating over R1.4 million in earnings for graduates transitioning into the creative economy.
- **Short-Courses** on music production and DJing saw a total of **171 students enrolled.**
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.
- 1 -
## **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.
- 2 -
## **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
- 3 -
## **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:
- select suitable accounting policies and then apply them consistently;
- observe the methods and principles in the Charities SORP;
- make judgements and estimates that are reasonable and prudent; and
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.
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.
- 4 -
## **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:
- 1 accounting records were not kept in respect of the charity as required by section 386 of the Companies Act 2006.
- 2 the financial statements do not accord with those records; or
- 3 the financial statements do not comply with the accounting requirements of section 396 of the Companies Act 2006 other than any requirement that the financial statements give a true and fair view, which is not a matter considered as part of an independent examination; or
- 4 the financial statements have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their financial statements in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).
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
- 5 -
## **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.
- 6 -
## **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)
- 7 -
## **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.
- 8 -
## **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.
- 9 -
## **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|
- 10 -
## **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|
- **5 Expenditure on raising funds**
|**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|
- 11 -
## **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|
- 12 -
## **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|-|
- 13 -
## **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|
- 14 -
## **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:
- 15 -
## **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|
- 16 -
## **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**
- 17 -
## **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).
- 18 -
## **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
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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