DocuSign Envelope ID: 50CB0D92-9CFC-4C66-B9B6-7FED231438DF
Charity number 1155847
Multi-Story Music
Report and Financial Statements
for the 454 day period (15 months) ended 31 March 2023
Breckman & Company Ltd Chartered Certified Accountants 49 South Molton Street London W1K 5LH
DocuSign Envelope ID: 50CB0D92-9CFC-4C66-B9B6-7FED231438DF
Multi-Story Music
Contents
| Page | |
|---|---|
| Reference and Administrative Details | 1 |
| Trustees' Report | 2 - 3 |
| Independent Examiners' Report | 4 |
| Statement of Financial Activities (including Income and Expenditure Account) | 5 - 9 |
| Balance Sheet | 10 |
| Notes to the Financial Statements | 11 - 18 |
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Multi-Story Music
Reference and Administrative Details
Constitution
The organisation is a charitable incorporated organisation (CIO) under the Charities Act, registered charity number 1155847. The organisation's governing document is its constitution dated 19 February 2014.
Trustees
As set out in the governing document, every trustee must be appointed by a resolution passed at a properly convened meeting of the charity trustees. The minimum number of trustees is 3, the maximum number of trustees is 9.
Policies and procedures adopted for the induction and training of trustees are ongoing and incorporated indirectly into the regular trustees meetings.
The trustees during the 454 day period (15 months) and since the 454 day period (15 months) end, were :
| Soumitra Chakravorty (Chair) | resigned on 14 September 2023 |
|---|---|
| Adele Cross (Acting Chair) | |
| Robert Cloke | appointed 14 June 2022 |
| Alex Lambert | appointed 14 June 2022 / resigned 02 August 2023 |
| Peter Lindsay | |
| Natasha Roe | |
| Tom Service | appointed 14 June 2022 / resigned 17 October 2022 |
| Christopher Stark | resigned 26 January 2022 |
| Hannah Timamy | appointed 14 April 2022 |
| Joanna Armitage | appointed 18 July 2023 |
Chief executive/day to day management
Kate Whitley - Artistic Directors Ellie Carnegie-Brown - Executive Producer (left March 2022)
Independent examiners
Breckman & Company Ltd, Chartered Certified Accountants, 49 South Molton Street, London W1K 5LH.
Bankers
NatWest, Cambridge Market Street Branch, 23 Market Street, Cambridge CB2 3PU.
Registered office / principal address
3 Space International House, 6 Canterbury Crescent, Brixton, London SW9 7QE.
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Multi-Story Music
Trustees' Report
The trustees present their report and the financial statements for the 454 day period (15 months) ended 31 March 2023.
The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the accounts and comply with the charity's trust deed, the Charities Act 2011 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).
The legal and administrative information set out on page 1 forms part of this report.
Objectives and Activities
The objective of the charity, as set out in the constitution, is to advance the education of the public in the subject of orchestral music, particular but not exclusively, by advancing and developing public access to, and appreciation of, orchestral music.
We developed our business plan during this period, with our vision being 'a world where orchestral music values and can involve absolutely anyone', and our mission as follows:
- To find inclusive, creative ways to make powerful orchestral music; To give opportunities to those who don't already have them; To empower everyone we involve to be creative and be heard; To inspire change in the rest of the orchestral world.
In shaping our objectives for the period and planning our activity, the trustees considered the Charity Commission's guidance on public benefit, including the guidance 'public benefit, running a charity PB2'
Key activity
This has been a hugely successful and busy period, with a range of projects and performances, all of which included large groups of local young people trained to create and perform alongside our professional orchestral musicians. We have found that these methods of working, especially those where the music is actively created by everyone involved in the project rather than pre-existing, leads to greater impact on those involved and results in the highest quality music. The projects carried out in the period included:
-
Creation and performance of 'The Volcano', a new work depicting the life cycle of a volcano with percussion instruments, led by Fran Lobo, Elsa Bradley, Joe Richards, and Delia Stevens, performed at Bold Tendencies car park in Peckham and at the Southbank Centre in London;
-
Our 'Big Summer Concert', with music by Barbara Strozzi and Vivaldi, conducted by Moustapha Doumbia and featuring soloist Francesca Chijiena;
-
Creation and performance of a developed version of The Endz, with a new script written by Abi Falase, featuring soloists Moustapha Doumbia, Dupri McKoy, Flame Rhoden, Christina Brown Onabanjo and Toni Olabanji;
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Multi-Story Music
Trustees' Report
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Creation and performance of Awake! with interactive introduction performances included, both at our home Bold Tendencies in Peckham, at the Queen Elizabeth Hall in the Southbank Centre;
-
Creation and performance in partnership with GL4 on Matson Estate in Gloucester of Tomorrow Is Another Day with young people from Beats programme, led by Fran Lobo and Jon French;
-
Performance of Julis Eastman's Stay On It both in Exeter with Cygnet Theatre and in Portsmouth as part of PortsFest, led by Yusuf Narcin, Fra Rustumji, and Corentin Chassard, with young people from local schools.
Summary of main achievements in the period
-
Carrying out a dynamic and varied concert series both at our home Bold Tendencies in Peckham, at the Queen Elizabeth Hall in the Southbank Centre, and in other locations around the country, reaching hundreds of young people and musicians and providing significant opportunities in areas of greater need;
-
Launching of our Young Creatives scheme, which now enables our young people aged 16-19 to meet weekly and benefit from significant creative and development opportunities;
- Securing significant national press coverage, including being featured on ITV News, in The Telegraph and in The Times for The Endz;
-
Securing Arts Council National Portfolio Funding, which transforms our financial stability over the next 3 years;
-
Expanding our staffing team to reflect the growing scale of our work, with the new programme team including a full time Youth Coordinator as our work with young people expands significantly.
Reserves Policy
The trustees understand the need to build up sufficient reserves to provide a degree of financial security for the orchestra's ongoing operations. Trustees consider that a prudent level of unrestricted charitable reserves should cover unavoidable operating costs of the charity for three to six months, which equates to between £58,000-£116,000.
On 31 March 2023, the total amount of unrestricted funds was £150,054, with designated funds of £77,494 and general funds of £72,560. The restricted funds balance at the year-end was £137,378.
Financial Review
During the 15 month period ended 31 March 2023, Multi-Story Music received grant income of £296,900 (2021: £69,504), performance income of £71,028 (2021: £25,404), voluntary income of £67,616 (2021: £59,232) and orchestra tax relief of £56,578 (2021: £16,987) totalling £492,122 (2021: £171,127).
During the 15 month period ended 31 March 2023, total expenditure was £349,856 (2021: £230,792)
This report was approved by the Board of Trustees on 18 January 2024 and signed on its behalf by
Adele Cross (Acting Chair) Trustee
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Independent Examiner's Report to the Trustees of Multi-Story Music
I report on the accounts of the charity for the period ended 31 March 2023, which are set out on pages 5 to 18.
Respective responsibilities of trustees and examiner
The charity's trustees are responsible for the preparation of the accounts. The charity's trustees consider that an audit is not required for this year under section 144(2) of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed.
The charity's gross income exceeded £250,000 and I am qualified to undertake the examination by being a qualified member of The Association of Chartered Certified Accountants.
Having satisfied myself that the charity is not subject to an audit under charity law and is eligible for independent examination, it is my responsibility to:
-
ꞏ examine the accounts under section 145 of the 2011 Act;
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ꞏ follow the procedures laid down in the general Directions given by the Charity Commission (under section 145(5)(b) of the 2011 Act; and
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ꞏ state whether particular matters have come to my attention.
Basis of independent examiner's report
My examination was carried out in accordance with the general Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts present a "true and fair view" and the report is limited to those matters set out in the statement below.
Independent examiner's statement
In connection with my examination, no matter has come to my attention:
-
which gives me reasonable cause to believe that in, any material respect, the requirements:
-
ꞏ to keep accounting records in accordance with section 130 of the 2011 Act; and
-
ꞏ to prepare accounts which accord with the accounting records and comply with the accounting requirements of the 2011 Act have not been met; or
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to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
Richard Nelson Breckman & Company Ltd Chartered Certified Accountants
49 South Molton Street London W1K 5LH
18 January 2024
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Multi-Story Music
Statement of Financial Activities (including Income and Expenditure Account) for the 454 day period (15 months) ended 31 March 2023
| Unrestricted Restricted funds funds Notes £ £ Income: 2 Donations and legacies - page 6 67,616 - Charitable activities Concert income - page 7 71,028 296,900 Other 3 56,578 - Total 195,222 296,900 Expenditure on: Raising funds: Fundraising - page 8 28,426 - Charitable activities: Concert costs - page 8 144,236 177,194 Total 172,662 177,194 Net movement in funds: Net income/(expenditure) 4 22,560 119,706 Reconciliation of funds: Total funds brought forward 127,494 17,672 Total funds carried forward 12, 13 150,054 137,378 |
2023 Unrestricted Restricted Total funds funds £ £ £ 67,616 59,232 - 367,928 25,404 69,504 56,578 16,987 - 492,122 101,623 69,504 28,426 18,589 - 321,430 87,062 125,141 349,856 105,651 125,141 142,266 ) (4,028 ) (55,637 145,166 131,522 73,309 287,432 127,494 17,672 |
2021 Total £ 59,232 94,908 16,987 171,127 18,589 212,203 230,792 ) (59,665 204,831 145,166 |
|---|---|---|
The notes on pages 11 to 18 form an integral part of these financial statements.
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derives from continuing activities.
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Multi-Story Music
Period ended 31 March 2023
| Income from donations and legacies Grants John and Susan Bowers Fund Fitton Trust Foyle Foundation Donations Individual donations Donation in kind - rent |
2023 £ - 350 - |
£ 350 44,766 22,500 67,616 |
2021 £ 800 350 15,000 |
£ 16,150 43,082 - |
|---|---|---|---|---|
| 59,232 |
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Multi-Story Music
454 day period (15 months) ended 31 March 2023
| Income from charitable activities Concert performances Ticket sales Partnership income Other income Project specific funding Grants/Donations ACE Developing audience & participants Paul Hamlyn Foundation ACE Young creative grant Fenton Arts Trust Garfield Weston Foundation Genesis Kickstart Fund Hilden Charitable Fund ACE Orchestral training grant ACE Digital school tours Peckham Settlement Three Monkies Trust Marchus Trust Cockayne - Grants for the Arts Ambache Charitable Trust Newcomen Collett Foundation London Music Fund PRS Foundation Borletti-Buitoni Trust RA and VB Reekie Charitable Trust Sundry donation D'Oyly Carte Charitable Trust The Austin and Hope Pilkington Trust CAF American Donor Fund Other income Orchestra Tax Relief (OTR) |
2023 £ 5,385 64,843 800 71,028 44,000 146,350 18,000 - 8,000 - - - - 2,500 8,000 3,000 4,000 1,000 1,000 4,800 4,000 35,000 500 1,250 2,500 3,000 10,000 296,900 56,578 56,578 |
2021 £ 3,398 22,006 - |
|---|---|---|
| 25,404 | ||
| - 32,000 - 5,000 - 10,000 6,500 10,000 504 - - - 5,000 - - - - - - 500 - - - |
||
| 69,504 | ||
| 16,987 | ||
| 16,987 |
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DocuSign Envelope ID: 50CB0D92-9CFC-4C66-B9B6-7FED231438DF
Multi-Story Music
454 day period (15 months) ended 31 March 2023
| Expenditure on raising funds Fundraising staff costs Fundraising costs Freelancer fees Expenditure on charitable activities Concert costs Production fees Staff costs Freelancer fees Production costs Marketing Travel Support costs - page 9 Governance costs - page 9 |
2023 £ 14,408 12,956 1,062 28,426 43,013 84,782 14,984 86,077 1,223 7,557 237,636 80,127 3,667 321,430 |
2021 £ 17,531 1,058 - |
|---|---|---|
| 18,589 | ||
| 104,563 - - 24,344 628 14,118 |
||
| 143,653 65,850 2,700 |
||
| 212,203 |
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DocuSign Envelope ID: 50CB0D92-9CFC-4C66-B9B6-7FED231438DF
Multi-Story Music
454 day period (15 months) ended 31 March 2023
| Support and governance costs Support costs Office overheads Rent - donation in kind Insurance Depreciation of fixtures/fittings/equipment Administration costs Staff costs Freelancer fees Staff training Staff recruitment Travel/subsistence Advertising/marketing Sundries Professional/financial Bank charges Governance costs Independent examination/accountancy |
2023 £ 22,500 1,106 422 7,979 31,913 7,625 1,471 1,238 2,485 2,648 740 3,667 |
£ 24,028 55,359 740 80,127 3,667 83,794 |
2021 £ - 937 - 33,760 22,225 2,833 1,037 192 1,087 3,370 409 2,700 |
937 64,504 409 |
|---|---|---|---|---|
| 65,850 2,700 |
||||
| 68,550 |
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Multi-Story Music
Balance Sheet 31 March 2023
| Notes Tangible assets 8 Current assets Debtors 9 Cash at bank and in hand Liabilities: Creditors: amounts falling due within one year 10 Net current assets Total assets less current over total assets The funds of the charity: Unrestricted funds: - General funds 12 - Designated funds Restricted funds 13 Total charity funds |
2023 £ 69,533 220,939 290,472 ) (6,553 |
£ 3,513 283,919 287,432 72,560 77,494 150,054 137,378 287,432 |
2021 £ 20,991 132,668 153,659 ) (8,493 |
£ - 145,166 |
|---|---|---|---|---|
| 145,166 | ||||
| 50,000 77,494 |
||||
| 127,494 17,672 |
||||
| 145,166 |
The financial statements were approved by the Board of Trustees on 18 January 2024 and signed on its behalf by
Adele Cross (Acting Chair) Trustee
The notes on pages 11 to 18 form an integral part of these financial statements.
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Notes to the Financial Statements for the 454 day period (15 months) ended 31 March 2023
1. Accounting policies
1.1. Basis of preparing the financial statements
The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard (issued October 2019) applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019) - (Charities SORP (FRS 102)).
The charity meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy note(s).
1.2. Income
All incoming resources are included in the Statement of Financial Activities when:
-
the charity is legally entitled to the funds
-
any performance conditions attached to the income have been met or are fully within the control of the charity
-
there is sufficient certainty that receipt of the income is considered probable
-
the amount can be reliably measured
- Donations and legacies
Grants/donations are recognised in incoming resources in the 454 day period (15 months) in which they are receivable, except as follows:
-
when donors specify that grants/donations given to the charity must be used in future accounting periods, the income is deferred until those periods
-
when donors impose conditions which have to be fulfilled before the charity becomes entitled to use such income, the income is deferred and not included in incoming resources until the preconditions for use are met.
- Charitable activities
Concert income - ticket sales from concerts and sundry other performance income is included in incoming resources in the period in which the relevant activity takes place.
Project specific funding - when donors specify that donations and grants are for particular restricted purposes, which do not amount to pre-conditions regarding entitlement, this income is included in incoming resources of restricted funds when receivable.
- Investment income
Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the Bank.
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Multi-Story Music
Notes to the Financial Statements for the 454 day period (15 months) ended 31 March 2023
1.3. Expenditure
All expenditure is included on an accruals basis inclusive of any VAT which cannot be recovered and is recognised when:
-
there is a legal or constructive obligation to make a payment
-
it is probable that settlement will be required
-
the amount of the obligation can be measured reliably
- Costs of raising funds
Costs incurred in attracting donations, and those incurred in trading activities that raise funds.
- Charitable activities
Concert costs - costs incurred in the staging of performances during the 454 day period (15 months).
- Support costs
The administrative and overhead costs associated with running the office from which the company operates as well as governance costs. Support costs are wholly attributable to theatre production costs.
- Governance costs
Costs associated with the constitutional and statutory requirements of the charity.
1.4. Fund accounting
Funds held by the charity are:
-
Unrestricted general funds - these are funds which can be used in accordance with the charitable objects at the discretion of the trustees.
-
Designated funds - these are funds set aside by the trustees out of unrestricted general funds for specific future purposes or projects.
-
Restricted funds - these are funds that can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
1.5. Tangible fixed assets and depreciation
Individual fixed assets costing £500 or more are capitalised at cost.
Depreciation is provided at annual rates calculated to write off the cost less residual value of each asset over its expected useful life, as follows:
Fixtures/fittings/equipment
Straight line over 3 years
1.6. Debtors
Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid after taking account of any trade discounts due.
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Notes to the Financial Statements
for the 454 day period (15 months) ended 31 March 2023
1.7. Cash at bank and in hand
Cash at bank and in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.
1.8. Creditors and provisions
Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.
1.9. Financial Instruments
The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value, and subsequently measured at their settlement value.
1.10. Significant Accounting Estimates and Judgements
In determining the carrying amounts of certain assets and liabilities, the charity makes assumptions of the effects of uncertain future events on those assets and liabilities at the balance sheet date. The charity's estimates and assumptions are based on historical experience and expectation of future events and are reviewed annually.
2. Income
The total incoming resources for the 454 day period (15 months) have been derived from the principal activity undertaken wholly in the UK.
| 3. Other income Orchestra Tax Relief (OTR) 4. Net income/(expenditure) for the 454 day period (15 months) is stated after charging: Depreciation of tangible fixed assets Independent examiners' remuneration -Independent examination -Other services |
2023 £ 56,578 2023 £ 422 3,187 480 |
2021 £ 16,987 |
|---|---|---|
| 2021 £ - 2,220 480 |
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Notes to the Financial Statements for the 454 day period (15 months) ended 31 March 2023
5. Trustees' emoluments and reimbursed expenses
The aggregated amount reimbursed to trustees during the 454 day period (15 months) was £nil (2021 - £nil.
| 6. Staff costs and numbers Staff costs Salaries and wages Social security costs Pension costs |
2023 £ 100,382 4,384 2,403 107,169 |
2021 £ 49,886 344 1,061 |
|---|---|---|
| 51,291 |
No employee earned £60,000 or more during the 454 day period (15 months) (2021 - nil).
The key management personnel of the charity comprise the Trustees and the Senior Management Team. The total employee benefits and fees of the key management personnel of the charity were £37,853 (2021- £63,948).
Staff numbers
The average numbers of employees (including casual and part time staff) during the 454 day period (15 months) was made up as follows:
| (15 months) was made up as follows: | ||
|---|---|---|
Fundraising Charitable activities |
2023 Number 0.5 2.5 3 |
2021 Number 1 2 |
| 3 |
7. Corporation taxation
The charity is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or section 252 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects.
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Multi-Story Music
Notes to the Financial Statements for the 454 day period (15 months) ended 31 March 2023
| 8. Fixed assets - tangible assets Fixtures/ fittings/ equipment £ Cost Additions 3,935 31 March 2023 3,935 Depreciation 1 January 2022 - Charge for 454 day period (15 months) 422 31 March 2023 422 Net book values 31 March 2023 3,513 9. Debtors 2023 £ Trade debtors 12,019 Other debtors - Prepayments and accrued income 57,514 69,533 10. Creditors: amounts falling due 2023 within one year £ Trade creditors 3,852 Other taxation/social security - Deferred income (note 11) - Accruals 2,701 6,553 |
Total £ 3,935 |
|---|---|
| 3,935 | |
| - 422 |
|
| 422 | |
| 3,513 | |
| 2021 £ 1,645 221 19,125 |
|
| 20,991 | |
| 2021 £ 3,852 1,140 800 2,701 |
|
| 8,493 |
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Notes to the Financial Statements for the 454 day period (15 months) ended 31 March 2023
11. Deferred income
£
| Balance at 1 January 2022 Amount released to incoming resources Balance at 31 March 2023 |
800 ) (800 |
|---|---|
| - |
Deferred income relates to grants and donations received in advance.
| 12. | Unrestricted funds | Brought | Income | Outgoing | Carried |
|---|---|---|---|---|---|
| forward | resources | forward | |||
| £ | £ | £ | £ | ||
| General fund | 50,000 | 195,222 | ) (157,192 |
88,030 | |
| Designated funds: | |||||
| 2022-4 Programme costs | 77,494 | - | - | 77,494 | |
| 127,494 | 195,222 | ) (157,192 |
165,524 |
2022-4 Programme costs
This fund has been created towards the charity's activity in 2022-4.
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Notes to the Financial Statements for the 454 day period (15 months) ended 31 March 2023
| 13. Restricted funds Orchestral Training Scheme Developing audiences Strategic Touring Creative Music Making Model Core overheads / staffing Young Creatives Verified The Endz Trainee programme 2023 New commission |
Brought Income Outgoing Carried forward resources forward £ £ £ £ 9,800 - ) (10,800 1,000 - 44,750 ) (44,750 - 1,072 - - 1,072 6,800 - ) (6,800 - - 146,350 ) (85,713 60,637 - 44,300 ) (9,850 34,450 - 39,000 ) (6,550 32,450 - 8,500 ) (8,500 - - 11,000 ) (4,231 6,769 - 3,000 3,000 17,672 296,900 ) (177,194 137,378 |
Brought Income Outgoing Carried forward resources forward £ £ £ £ 9,800 - ) (10,800 1,000 - 44,750 ) (44,750 - 1,072 - - 1,072 6,800 - ) (6,800 - - 146,350 ) (85,713 60,637 - 44,300 ) (9,850 34,450 - 39,000 ) (6,550 32,450 - 8,500 ) (8,500 - - 11,000 ) (4,231 6,769 - 3,000 3,000 17,672 296,900 ) (177,194 137,378 |
|---|---|---|
| ) (177,194 137,378 |
Core overheads / staffing
This fund is towards our staff costs to support the delivery of our live programme.
Orchestral Training Scheme
This funding was to work with young instrumentalists who performed alongside the orchestra at Bold Tendencies car park in Peckham and at the Southbank Centre.
Creative Music Making Model
This funding was to enable our creative music making projects where we devise music with young people.
Strategic Touring
This funding was to tour the Multi-Story Orchestra to car parks in the North, Midlands and South-West Areas across 2018-2019.
Developing Audiences
This fund was towards the costs of developing our audiences and participants in both Peckham and Gloucester. Due to COVID restrictions this was extended until 2022
Trainee Programme
This fund supports the employment costs of a 12 month traineeship, recruited from the Young Creatives programme.
The Endz
This funding was to create a new piece called 'The Endz' with young people from Harris Academy Peckham
2023 New Commission
Building on the success of The Endz, a new commission for orchestra and spoken word to be performed by young people and orchestra
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Multi-Story Music
Notes to the Financial Statements for the 454 day period (15 months) ended 31 March 2023
Verified
Funding to support a new large-scale choir and orchestra commission - Verified to be performed in summer 2023.
Young Creatives
Funding to support our Young Creatives scheme where young people co-create new orchestral work with our professional orchestra, reaching new audiences.
14. Analysis of net assets between funds
| General Designated Restricted funds funds funds £ £ £ Fund balances at 31 March 2023 are represented by: Tangible fixed assets 3,513 - - Net current assets 69,047 77,494 137,378 72,560 77,494 137,378 |
Total £ 3,513 283,919 |
|---|---|
| 287,432 |
15. Transactions with trustees
There are no transaction with trustees during the year.
16. Liability of members
If Multi-Story Music is wound up, the members of the organisation have no liability to contribute to its assets and no personal responsibility for settling its debts and liabilities. At 31 March 2023 there were 6 members.
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