# # ## |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| ## |||||I
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I/I|e|| ## ## |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| ## ## ## ## ##