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|||Page|
|---|---|---|
|Charity reference<br>gr administrative|details||
|Report ofthe trustees||2-10|
|Report ofthe independent<br>auditors||11-14|
|Statement offinancial<br>activities||1S|
|Balance sheet||16|
|Statement ofcashflaws||17|
|Notes to the financial statements||18-26|





|Directors|(and Trustees):|(and Trustees):|Elizabeth<br>Forgan DBE(Chairman)|Elizabeth<br>Forgan DBE(Chairman)|
|---|---|---|---|---|
||||Nicholas<br>Hardie||
||||Andrew<br>Hochhauser|KC|
||||Michael<br>Leven||
||||Jenny Lewis||
||||Alistair Lornax||
||||Ben Lumsden||
||||Rachel Mortimer||
||||Suzanne Szczetnikowicz||
||||Sharon<br>Zhu||
|Company|Secretary:||John Harte||
|Senior Management||Team:|John Harte|Chief Executive|
||||Jane Mitchell|Creative Director|
|Registered|Office:||The Music Base||
||||King's Place||
||||90York Way||
||||London,<br>N1 9AG||
|Registered|Company|Number:|8523283||
|Registered|Charity Number:||1155738||
|Bankers:|||CAF Bank Ltd||
||||25 Kings Hill Avenue||
||||West Maging||
||||Kent ME194JQ||





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|||Note|Unrestricted|Restdcted|TOTAL|TOTAL|
|---|---|---|---|---|---|---|
||||Funds|Funds|2022|2021|
||||6|6|6|E|
|Income from:|||||||
|Voluntary<br>income|||309,451|173,000|482,451|766,290|
|Investments|||323||323|44|
|Charitable<br>activities|||463,438||463,438|150,495|
|Total income|||773,212|173,000|946,212|916,829|
|Expenditure<br>on:|||||||
|Raising funds|||116,457||116,457|132,444|
|Charitable<br>activities|||514,520|273,000|787,520|501,133|
|Total expenditure|||630,977|273,000|903,977|633,577|
|Net income / (expenditure)|||142,235|(100,000)|42,235|283,252|
|Transfers between|funds|14|||||
|Total funds brought|forward|14|147,847|218,000|365,847|82,595|
|Total funds carried|forward|14|290,082|||365,847|








|||||||2022|2021|
|---|---|---|---|---|---|---|---|
|||||||F.|6|
|Cash used in operating<br>activities||||||(83,942)|403,181|
|Cash flows from investing<br>activities||||||||
|Interest income||||||323||
|Purchase oftangible<br>fixed assets||||||(4,520)|(4,719)|
|Cash provided<br>by (used in) investing||activities||||(4,197)|(4,675)|
|Cash flows from financing activities||||||||
|Loans received||||||||
|Repayment<br>ofborrowing||||||(29,618)|(60,869)|
|Cash provided<br>from financing activities||||||(29,618)|(6D,869)|
|Increase (decrease) in cash and|cash|equivalents||in the year||(117,757)|337,637|
|Cash and cash equivalents<br>at the|beginning||ofthe year|||380,836|43,199|
|Total cash and cash equivalents|atthe end||ofthe year|||263,079|380,836|
|Reconciliation<br>ofnet movement|in funds to net|||cash flow from operating|activities|||
|Net movement<br>in funds||||||42,235|283,252|
|Add back depreciation<br>charge||||||3,294|3,245|
|Add notional<br>interest|||||||2,962|
|Deduct interest income shown|in investing||activities|||(323)|(44)|
|Decrease (increase) in stock||||||||
|Decrease (increase) in debtors||||||(173,845)|122,841|
|Increase (decrease)<br>in creditors||||||44,697|(9,075)|
|Net cash used in operating<br>activities||||||(83,942)|403,181|








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|||||Unrestricted|Unrestricted|Restricted|Total||Total|
|---|---|---|---|---|---|---|---|---|---|
||||||Funds|Funds|2022||2021|
|2|Voluntary<br>income||||E|E|E||E|
||Grants||||245,536|173,000|418,536||699,185|
||Donations|||||||||
||Individual<br>giving||||63,915||63,915||67,105|
||Corporate donations|||||||||
||||||309,451|173,000|482,451||766,290|
||Grants received, included|above, are as||follows:||||||
||ACE -Culture<br>Recovery Fund||||145,016||145,016||200,000|
||Arts Council England||||93,519||93,519||156,065|
||Karlsson Jativa Charitable|Foundation||||50,000|50,000|||
||Parabola Foundation|||||35,000|35,000||8,000|
||Cockayne<br>Grants for the|Arts and||||25,000|25,000|||
||the London Community|Foundation||||||||
||Royal Philharmonic<br>Society|||||25,000|25,000|||
||John Lyon's Charity|||||23,000|23,000|||
||HMRC - Furlough<br>Grant||||7,001||7,001||83,310|
||Radcliffe Trust|||||4,500|4,500|||
||Garrick Charitable<br>Trust|||||4,000|4,000|||
||The PRS Foundation<br>for Music|||||3,000|3,000|||
||Three Monkies Trust|||||2,000|2,000|||
||Nugee Foundation|||||1,500|1,500|||
||Garfield Weston Foundation||||||||185,410|
||BPI Music Export Growth|Scheme|||||||20,000|
||Esmee Fairbairn<br>Foundation||||||||18,500|
||SirJohn Fisher Foundation||||||||10,000|
||London Borough of Islington||||||||5,000|
||The O'Oyly Carte Charitable||Trust||||||3,500|
||The Leche Trust||||||||3,000|
||Trustees ofthe New Berlioz||Edition||||||2,000|
||RVW Trust||||||||2,000|
||Ambache<br>Charitable<br>Trust||||||||1,400|
||Austin &Hope Pilkington|Trust|||||||1,000|
||||||245,536|173,000|418,536||699,185|
||||||||Total||Total|
||||||||2022||2021|
|3|Investment<br>income||||||E||E|
||Interest receivable||||||323||44|
||Income from investments|was E323(2021:E44)|||which was wholly attributable||to unrestricted|funds.||





|||||||Total|Total|
|---|---|---|---|---|---|---|---|
|||||||2022|2021|
|4|Income from|charitable|activities|||E|E|
||Performance|Fees||||320,000|89,923|
||Orchestra tax|relief||||135,979|44,160|
||Film tax relief|||||812|12,345|
||Programme<br>sales, sale||ofrecordings,|reimbursed|costs|6,647|4,067|
|||||||463,438|150,495|



||||||2022||2022|2022|2022|2021|
|---|---|---|---|---|---|---|---|---|---|---|
||||||Staff Costs||Direct Costs|Support Costs|Total|Total|
|5|Expenditure||on:||E||E|E|E||
||Raising funds||||55,099||9,828|51,530|116,457|132,444|
||Charitable|activities|||148,800||499,557|139,163|787,520|501,133|
||Total||||203,899||509385|190,693|903,977|633,577|
||Included<br>in|support costs are|||governance|costs|ofE5,000(2021:E4,000)||||
||||||2022||2022|2022|2022|2021|
||||||Premises||Financial|Office|Total|Total|
||||||costs||gr legal|admin|||
|6|Analysis ofsupport costs||||E||E|E|||
||Raising funds||||3,148||19,783|28,599|51,530|46.389|
||Charitable|activities|||8,503||53,426|77,234|139,163|100,791|
||||||11,651||73,209|105,833|190,693|147,180|
||||||||||2022|2021|
|7|Net income/(expenditure)|||forthe year|||||E|E|
||This is stated||after charging:||||||||
||Depreciation||||||||3,294|3,245|
||Auditor's||remuneration||||||5,000|4,000|





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|||||Unrestricted|Restricted|Total|Total|
|---|---|---|---|---|---|---|---|
|||||Funds|Funds|Funds|Funds|
|||||2022|2022|2022|2021|
|8|Analysis|ofexpenditure|by fund|E|E|E|E|
||Raising funds|||116,457||116,457|132,444|
||Charitable|activities||514,520|273,000|787,520|501,133|
|||||630,977|273,000|903,977|633,577|



|||||||Total|Total|
|---|---|---|---|---|---|---|---|
|||||||2022|2021|
|9|Staff costs|and employee||benefits||E|F.|
||Salaries|||||183,420|227,296|
||Social security costs|||||14,544|18,722|
||Employer|pension|contributions||in the year|5,935|6,600|
|||||||203,899|252,618|
||Freelance|fees to|artists|||351,819|119,235|
||Freelance|fees to|administrators|||62,262|60,965|
|||||||414,081|180,200|
|||||||2022|2021|



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|11|Tangible fixed assets|Computers||
|---|---|---|---|
|||&equipment||
|||6||
||Cost|||
||At 1st April 2021|43,128||
||Additions|4,520||
||Disposals|||
||At 31st March 2022|47,648||
||Depreciation|||
||At 1st April 2021|36,414||
||On disposals|||
||Charge for the year|3,294||
||At 31st March 2022|39,708||
||Net BookValue|||
||At 31st March 2021|||
||At 31st March 2022|7,940||
|||Total|Total|
|||2022|2021|
|12|Debtors|E|E|
||Trade debtors|4,320|18,171|
||Prepayments|37,325|1,676|
||Accrued<br>income|267,271|104,434|
||Other debtors|87|10,876|
|||309,003|135,157|
|||Total|Totai|
|||2022|2021|
|13|Creditors|E|E|
||Amounts<br>falling due within one year|||
||Bank loans and overdrafts|31,602|29,618|
||Trade creditors|45,453|14,460|
||Deferred income||2,000|
||Accruals|16,843|10,480|
||Other creditors|15,103|5,761|
|||109,001|62,319|





||||Total|Total|
|---|---|---|---|---|
||||2022|2021|
|13|Creditors|(continued)|E|E|
||Amounts|falling due after more than one year|||
||Bank loans and overdrafts||63,536|95,138|
||||63,536|95,138|



## 

||Income|deferred|from the|previous period|previous period|previous period||2,000|2,000|
|---|---|---|---|---|---|---|---|---|---|
||Released|tothe statement||of|financial|activities||(2,000)|(2,000)|
||Arising during the||current|year:||||||
||Grants|received|in advance||||||2,000|
||Performance<br>fees received||||in advance|||||
||||||||||2,000|
|14|Statement|ofFunds|||1Apr|Incolrllng|Resources|Transfers|31Mar|
||||||2021<br>f|Resources<br>E|Expended<br>E||2022<br>E|
||Restricted|Funds||||||||
||Performance<br>Programme||||58,000|92,000|(80,000)||70,000|
||Learning<br>gr|Participation|||160,000|81,000|(193,000)||48,000|
||||||218,000|173,000|(273,000)||118,000|
||Unrestricted<br>Funds|||||||||
||Performance<br>Programme||||147,847|773,212|(630,977)||290,082|
||||||147,847|773,212|(630,977)||290,082|
||Total funds||||365,847|946,212|(903,977)||408,082|





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||2022|2022|2021|2021|
|---|---|---|---|---|
||f|f|f||
||land and|Other|Land and|Other|
||buildings||buildings||
|Expiry date:|||||
|Lessthan 1year|10,080||16,620||
|Between 2 and 5years|||||
|More than 5years|||||
|Total|10,080||16,620||



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|||Unrestricted|Restricted|2022|2021|
|---|---|---|---|---|---|
|||funds|funds|||
|17|Analysis ofnet assets between funds|f|f|||
||Tangible fixed assets|7,940||7,940|6,714|
||Net current assets|282,142|118,000|400,142|359,133|
|||290,082|118,000|408,082|365,847|