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2021-03-31-accounts

Chair's statement
Administrative
information
Trustees'
and Directors'		 annual report 3 —9
Independent
examiner's		 report 10
Statement offinancial
activities
Balance sheet 12
Statement
ofcash flows		 13
Notes to the financial statements 14—25

FOR THE YEA R ENDED MARCH 3120 21
DIRECTORS M Ball
SJ Child
R Device (appointed 5August 2021)
L M Feeley (resigned 31 July 2020)
A G Lovatt
J Mundy
S Rahim (appointed 1/07/21)
T F Rabbani
L0 Shaw		 (appointed
(appointed		 22/03/21)
1/07/21)
W H A Lee (appointed 1/07/21)
Dr VA Tandy (Chair - appointed 29June 2020)
M Wilde
KEYSTAFF D King Chief Executive
G Device Head ofOperations & Finance
K Lowes Head of Programmes
REGISTERED OFFICE AND 456 Chester Road
PRINCIPAL PLACE OF BUSINESS Old Trafford
Manchester
M16 9HD
INDEPENDENT EXAMINER Peter Smith BA FCA DChA
&ACCOUNTANTS Chittenden Horley —Chartered Accountants
HGA Accountants & Financial
Consultants Ltd
456 Chester Road
Old Trafford
Manchester M169HD
BANKERS Lloyds Bank Pic
42-46 Market Street
Manchester M1 1PW

Notes Unrestricted Restricted Total Tots I
Funds Funds 2021 2020
Incoming resources from generated funds:
Donations 134,512 79,102 213,614 74,507
Charitable
activiTies		 24,223 513,464 537,687 574,286
Other trading
income		 1,950 1,950
Investment
income - bank		 interest
TOTAL INCOME 160,685 592,566 753,251 548,815
EXPENDITURE
Costs ofraising funds 12,623 12,623 6,178
Expenditure
on charitable		 activities 128,843 350,209 479,052 556,546
TOTAL EXPENDITURE 141,466 350,209 491,675 562,724
NET INCOMEI(EXPENDITUREI
BEF'ORETRANSFERS 19,219 242,357 261,576 86,091
Transfers
between
funds
NET MOVEMENT
IN FUNDS		 19,219 242,357 261,576 86,091
TOTAL FUNDS:
BROUGHT FORWARD 15 70,930 139,729 210,659 124,568
CARRIED FORWARD 15 90,149 382,086 472,235 210,659

2021 2020
notes
Cash used in operating
activities		 17 265,328 107,027
Cashflowe from Investing activities
Interest snd dividends 22
Cash provided
by/(used
in) investing		 activities 22
Cashf lowe from financing activit/es
Repayment
ofborrowing
—Finance lease		 684 571
Cash used in financing
activities		 684 571
Increase/(decrease)
in cash &cash		 equivalents in the year 264,644 106,478
Cash and cash equivalents brought forward 183,393 56,915
Cash and cash equivalents carried forward 428,037 153,393
Cash and cash equivalents consist of:
Cash at bank and
In hand		 428,037 163,393
428,037 163,393

2021 2020 2020
Unrestricted Restricted Total Unrestricted Restricted Total
f f f f f f
2 DONATIONS
ACE Catalyst 28,700 28,700
ACE CRF1 51,555 51,555
Esmea fairbairn 60,000 60,000
GMCA-grantre staffing 7,272 7,272 21,816 21,816
HMRC-CJRS 61,514 61,514
MCC - COVID support 10,000 10,000
MCC -grant re staffing 20,275 20,275 20,000 20,000
Donations
Donations
re Youth Music		 955 955
General donations 2,998 2,998 3,035 3 036
134,512 79,102 213,614 31,736 42, 771 74,507

2021 2020
Unrestricted Restricted Tata I Unrestricted Restricted Total
3 INCOME FROM CHARITABLE ACTIVITIES
Youth Music 3,550 280,949 284,499 28,991 173,394 202,385
Emerging
Musicians		 11,500 31,040 42,540 3,950 223,782 227,732
Workshops,
consultancy		 &other 9,173 201,475 210,648 32,369 111,800 144,169
24,223 513,464 537,687 65,310 508,976 574,286
Income is analysed as follows:
Youth 8llusic
Love Music Trust 5,000 5,000
Manchester
CityCouncil		 12,000 12,000
Prince's Trust 15,520 15,520
Youth Music Grant 235,000 235,000 160,000 160,000
Young Manchester 13,429 13,429 13,394 13,394
Fees and otherincome 3,550 3,550 28,991 28,991
3,550 280,949 264,499 28,991 173,394 202,385
Emerging Musicians
ACE G4A- Both Sides Now 138,852 138,852
Help Musicians
UK		 13,500 13,500 29,130 29,130
Manchester
City Council (MCC)		 1,000 1,000
Manchester
Histories		 Channelled ACE 4E8oo 42,800
Mayfield
Arts Trust		 11,540 11,540
PRS Foundation 5,000 6,000 12,000 12,000
Other grants
Other income 11,500 11,500 3,950 3,950
11,500 31,040 42,540 3,950 223,782 227,732
Workshops,
consultancy		 8 other activities
ACE - transforming leadership 101,200 101,200 101,250 101,250
British Council 50,000 50,000
MCC —Music Cities Network 28,175 28,175 10,550 10,550
Sickl Festival- channelled grant 17,100 17,100
Youth Music- Music Cities Network 5,000 5,000
Boxogice 66 68
Other income 9,173 9,173 32,303 32,303
9,173 201,475 210,648 32,369 111,800 144,169
4 OTHER TRADING INCOME
Sponsorship
-mentodng		 programme 1,950 1,950
1,950 1,950

2021 2020
5 COSTS OFRAISING FUNDS Unrestricted Restricted Total Unrestricted Restricted Total
f
Direct costs 216 216 167 167
Support costs 12,407 12r407 6,011 6,011
12,623 12,623 6,178 6,178
6 CHARITABLE EXPENDITURE
Youth Music 40,627 165,086 205,713 23,844 165,553 189,397
Emerging
Musicians		 119,540 20,922 140,462 2,165 216,081 218,246
Workshops,
consultancy		 &other 55,050 77,827 132,877 96,508 52,395 148,903
Staffing funding (34,819) 34,819 (34,544) 34,544
ACE CRF1 funded 51,555
128,843 350,209 479,052 87,973 468,573 556,546
EN/enditur e Is analysed as follows:
Direct Direct Support
Costs Salaries Costs Tote I
2020/21 f
Youth Music 60,771 71,233 73,709 205,713
Emerging Musicians 13,112 4,500 122,850 140,462
Workshops, consultancy &other 58,612 35,083 39,182 132,877
132,495 110,816 235,741 479,052
2019/20
Youth Music 85,595 68,537 35,265 189,397
Emerging Musicians 89,779 69,691 58,776 218,248
Workshops, consultancy &other 56,197 72,534 20,172 148,903
231,571 210,762 114,213 556,546

Emerging Other Total
Fundraising Youth Music Musicians Activities 2021
2020/21 6
Support costs
Staffcosts 8,151 48,908 81,514 24,454 163,027
Depreciation &amortisation 124 746 1,244 373 2,487
Legal &financial 330 1,979 3,298 989 6,596
Marketing 598 3,586 5,977 1,793 11,954
Network, research and organisational 1,078 6,468 10,780 3,234 21,560
Oflice, equipment and IT 705 4,227 7,045 2,114 14,091
Properlycosts 1,049 0,295 10,492 3,148 20,984
12,035 72,209 120,350 36,105 240,699
Governance costs
Staff'costs 250 1,500 2,500 750 5,000
Professional fees 122 2,327 2,449
372 1,500 2,500 3,077 7,449
12,407 73,709 122,850 39,182 248,148
Erlterglng Other Tata I
2019/20 Fundraising Youth Music Musicians Activities 2020
Support costs 6
Staffcosts 1,819 10,914 18,190 5,457 36,380
Depreciation 8 amortisation 200 1,197 1,996 599 3,992
Legal &financial 308 1,851 3,085 925 6,169
Marketing 599 3,595 5,992 1,798 11,984
Network, research and organisational 843 5,060 8,434 2,530 16,867
Office, equipment and IT 698 4,187 6,978 2,093 13,956
Properly costs 1,160 6,961 11,601 3,480 23,202
5,627 33,765 56,276 16,882 112,550
Governance costs
Staffcosts 250 1,500 2,500 750 5,000
Professional fees 134 2,540 2674
384 1,500 2,500 3,290 7,674
6,011 35,265 58,776 20,172 120,224

8 STAFFINFORMATION 2021 2020
a Employees
Salaries and wages 261,710 235,938
Employers
pension
contributions		 5,308 4,672
Employers
Nl allowance		 (4,000) (3,000)
Employer's
Nl contributions		 21 133 19,204
284,151 256,814
No employees
earned more		 than f60 000 p a. In either year.
b Key management
personnel
The keymanagementofthe charitycomprise the trustees and senior staff(as set out on page1).
The trustees
do not receive any remuneration		 for their services.
The total employee
benefits,		 including employer pension and Nl contributions, of other key managementwere as follows:
122,249 109,181
c Average staff numbers
The average
number of employees		 was as follows:-
Average Average
number number
9 NET INCOME/(EXPENDITURE) BEFORETRANSFERS (for the Group)
This is stated after charging/(crediting):
Independentexamlners
&accountants		 fees:
Examination 800 800
Accountancyfees 1,558 1,803
Other services 270
Operating
lease rentals
Depreciation
offixed assets		 1,168 2,672
Amortisation
ofintangible
assets		 1,320 1,320
Trustees
remuneration
Trustees expenses
Number Number
Trustees
claiming expenses

10 TANGIBLE FIXEDASSETS Computers &
Office
Equipment Equipment Tata I
f 6
Cost or valuation
As at April 1 2020 16,624 24,034 40,658
Additions
As at March 312021 16,624 24,034 40,658
Depreciation
As at April 1 2020 16,624 21,705 38,329
Charge for the year 1,168 1 168
As at March 31 2021 16,624 22,873 39,497
Net Book Value
As at March 31 2021 1,161 1,161
As at March 312020 2,329 2,329
11 INTANGIBLE RXEDASSETS Webslte Total
Cost
As at April
1 2020		 6,600 6,600
Additions
As at March 31 2021 6,600 6,600
Amortisation
As at April
1 2020		 5,280 5,280
Charge for the year 1,320 1,320
As at March 31 2021 6,600 6,600
Net BookValue
As at March 31 2021
As at March 312020 1,320 1,320
2021 2020
12 DEBTORS 6
Trade debtors 1,200 9,615
Income receivable 83,366 51,102
Prepayments 175
84,566 60,892
13 CREDITORS falling due within one year
Trade creditors 29,829 9,325
Other taxes and social security 5,221 4,826
Accrua la 2,195 2,056
Finance lease creditor 384 683
Income and grants
in advance		 3,900
41,529 16,890
14 CREDITORS falling due in more than one year
Finance lease creditor 385
385

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ANALYSIS OFNET ASSETS BEIWEEN FUNDS
Company
fund balances atMarch 312021		 Unrestricted Restricted Total
are represented
by:-		 General Designated Funds
Tangible
fixed assets		 1,181 1,161
Net current assets 70,143 18,845 382,086 471,074
71,304 18,845 382,086 472,235
Free Reserves:
Net current assets 70,143

Company fund balances atMarch 312020 Unrestricted Restricted Total
are represented
by. —		 Funds Funds
Tangible fixed assets 2,329 2,329
Intangible fixed assets 1,320 1,320
Net current assets 67,666 139,729 207,395
Creditors due in more than one year
70,930 139,729 210,659

2021 2020
Net income/(expenditure) 261,576 86,091
Add back depreciation 1,168 2,672
Add back amortisation
intangible
assets		 1,320 1,320
Deduct interest income shown in investing activities (22)
Decrease/(increase)
In debtors		 (23,674) 25,655
Increase/(decrease)
in creditors		 24,938 8,689
Net cash generated
from/(used		 in) operating activities 265,328 107,027
18 MOVEMENT
IN NET DEBT
at 31/3/19 cashflowe leases cash as 31/3/20
Cash and cash equivalents 6 6
Cash atbank and ln hand 163,393 264,644 428,037
Debt
Finance lease obligations 1,068 (684) 384
Cash and cash equivalents net ofdebt 162,325 427,653