Sound UK Arts
FINANCIAL STATEMENTS 31 MARCH 2024
Company Registration Number 07300739 Charity Number 1157305
Sound UK Arts
FINANCIAL STATEMENTS
YEAR ENDED 31 MARCH 2024
| CONTENTS | PAGES |
|---|---|
| Report of the Trustees | 1 – 5 |
| Reference & Administrative Information | 6 |
| Independent Examiner’s report to the Trustees | 7 |
| Statement of Financial Activities | 8 |
| Balance sheet | 9 |
| Notes to the financial statements | 10 - 18 |
Sound UK Arts
TRUSTEE’S ANNUAL REPORT
YEAR ENDED 31 MARCH 2024
Structure, Governance and Management
Sound UK Arts is a company limited by guarantee and a registered charity. We are governed by our Memorandum and Articles of Association.
Trustees are recruited through nomination by an existing or managing director with another trustee required to second any nomination.
Sound UK Arts is a small, contemporary music producer that creates live public events and digital work, and supports artists through R & D. In 2023-24 it had two permanent, part-time managing directors who are responsible for the day to day running of the charity, producing its projects and fundraising for the cost of those projects. It employs two permanent part-time staff, an Assistant Producer & Marketing Manager and a Communications Director. It uses a pool of highly experienced freelancers who are brought in as and when needed to complement the permanent staff’s skills.
In October 2024, Maija Handover stepped down as co-director but has continued to manage two projects as a freelancer.
Assistant Producer Chloe Arnett started 12 months maternity leave in March 2024. Communications Director Jamie Harber went on paternity leave for 8 weeks in July and August 2024.
Trustee Sarah Jones joined the board in June 2023. In September 2024, two trustees joined the board, Chisara Agor and Sara Locke, and Lucy Wood retired. The charity has a risk register which is reviewed every six months.
In April 2023 Sound UK stopped being regularly funded by its main funder, Arts Council England as part of ACE National Portfolio. It was successful in obtaining a Transition grant which supported activity alongside organizational development. ACE has continued to support Sound UK through Project Grants.
Objectives and Activities
To promote, improve, develop and maintain the advancement of the education of the public in new music by:
a) The promotion of high- quality public concerts, festivals and sound installations throughout England and further afield if necessary and other event /project/assignments conducive to the attainment of the objects.
b) Co-operating with like-minded organisations at the Trustees discretion so long as conducive to the attainment of the objects.
Activities 2023-24
Public Benefit: Sound UK presented a varied programme of activity including venue tours, site specific outdoor installation and audio trails.
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Sound UK Arts
TRUSTEE’S ANNUAL REPORT
YEAR ENDED 31 MARCH 2024
This was Sound UK’s first year outside of Arts Council England’s National Portfolio since 2012. Alongside unfunded tours through agency, we managed projects on behalf of artists, who received Project Grantsfrom Arts Council England, delivering workshops and tours across England.
Events were both ticketed and free. Grants were used to subsidise ticket prices and project costs to increase accessibility.
We continued Sound Generator, a development scheme for diverse emerging artists selected through a UK wide open call.
Achievements and Highlights
2023 – 24 was seen as a critical year for Sound UK to test a business model without the support of Arts Council National Portfolio funding.
Whilst going through the business development process, we continued to deliver distinctive work in the form of a major site-specific project, and three live tours: The Paper Cinema, Ice Music, The Fleet.
The work we produced during the year reached an estimated 16,000 people;
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4,549 live audiences
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11,276 streamed recordings
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Supported 6 emerging artists to develop an innovative idea through Sound Generator.
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11 workshops reaching 309 participants
Across its programme Sound UK is passionate about presenting exciting new work that can be experienced by, and inspire, as many people as possible.
Key achievements
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The Secret Sound of Trees: Powerful site-specific sound and light installation in the Forest of Dean.
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Remounting of The Paper Cinema ghost stories production.
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Ice Music: Return of Terje Isungset with his ice quartet.
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The Fleet: 8 date tour and workshops across the South West for new commission live soundtrack and remounting of soundtrack to 1929 film Drifters.
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Artist and audience development through new projects.
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Third year of artist development programme Sound Generator successfully completed
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Sound UK Arts
TRUSTEE’S ANNUAL REPORT
YEAR ENDED 31 MARCH 2024
Projects 2023-24
Sound Generator - artist development scheme June – November 2023
The third incarnation of Sound Generator was very successful. Six early career artists researched and developed pioneering ideas from an AV project exploring the spirituality of People of Colour in Scotland to a new work for orchestra, Welsh mining choir, electronics and instruments from natural materials. The work by Gwen Sion went on to be fully produced and premiered at the Millennium Centre Cardiff in October 2024.
The Secret Sound of Trees September 2023
Sound artist Jez riley French recorded the sounds of tree processes, ants and the soil at Beechenhurst in Forest of Dean. These were drawn into a 20 minute soundscape with music by Finnish artist Lau Nau.
Ulf Pederson created a lighting design that responded to the soundtrack, using the setting of the pine trees at Beechenhurst to create a dramatic three dimensional experience. Over three nights, 571 members of the public attended timed performances of the work.
We used this project to explore the impact art can have on nature connectedness. We collected overwhelming qualitative and quantitative evidence of the project’s impact on wellbeing and nature connectedness. 83% of people surveyed experienced an increased connection to nature after the performance. An incredible 85% of audiences completed a short feedback survey before entering and after exiting the event.
The Paper Cinema: Short Tales
October 2023
As part of exploring a sustainable business model, we remounted a successful commission by The Paper Cinema. In 2016 Sound UK had commissioned the company to create new work based on ghost stories from villages in Cornwall, Devon and Shropshire. This tour also served to reignite the audience for the company after being dormant over lockdown and has resulted in a renewed demand for their work. Sound UK is now their agent and continues to look after their engagements.
Terje Isungset – Ice Quartet
November 2023
Following a very successful tour in 2021 with Arctic Ice Music, we brought the Norwegian percussionist back with his ice quartet featuring ice harp and ice bass. They performed 6 concerts in Bury St Edmunds, Nottingham, Milton Keynes, Manchester, Basingstoke and Bristol.
“It was an extraordinary profound and moving musical experience.” Audience member “Totally unique and wonderful experience.” Audience member
The Fleet
March 2024
Sound UK secured Arts Council funding via Jason Singh, to produce an 8-date tour of Cornwall, Scilly, Devon, Dorset and Hampshire. This featured Jason Singh’s live soundtrack to 1929 silent film Drifters (a BFI commission) plus a new commission by Sarah Acton and Adrian Cooper who created a film about seine fishing along the south west coast.
“Such an incredible event, with such talented artists. I feel privileged and grateful for the Arts Funding which allowed such a phenomenal event to come to our local area. Huge congrats and many thanks to all involved.” Audience feedback
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Sound UK Arts
TRUSTEE’S ANNUAL REPORT
YEAR ENDED 31 MARCH 2024
"You could hear a pin drop. Everyone was captivated. Please go and watch this show, history and modern technology uniting in utter brilliance." Audience feedback
Financial Review
From 2012 - 2023 Sound UK Arts was principally funded by Arts Council England as part of the National Portfolio.
In March 2023, the funding agreement expired, and we were no longer funded through the National Portfolio.
We were successful in obtaining a Transition Grant designed to support organisations as they went through a process of change. Following this we were also successful in securing a Project Grant for the ongoing funding of Sound Generator.
Sound UK received a substantial grant from Ellerman Foundation towards core costs. This was the second year of a two-year grant at £25,000 per year which covers the salaries of Communications Director and Assistant Producer. It ended in March 2024, and we are looking at alternative sources of core funding.
Expenditure is split between overheads and project costs with overheads accounting for 54% of total expenditure.
Reserves Policy
Sound UK has a Reserves Policy of 4 months of operating costs, circa £35,000
Free Reserves at 31 March 2024 are above the policy at £56,070 but are likely to be brought in line with it in 2024/25.
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Sound UK Arts
TRUSTEE’S ANNUAL REPORT
YEAR ENDED 31 MARCH 2024
Statement of trustees’ responsibilities
The trustees (who are also directors of Sound UK Arts for the purposes of company law) are responsible for preparing the Trustees’ Report (incorporating the strategic report and directors’ report) and the financial statements in accordance with applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102: The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom 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 charitable company [and the group] and of the income and expenditure, of the charitable company for that period. In preparing these financial statements, the trustees are required to:
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select suitable accounting policies and then apply them consistently;
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observe the methods and principles in the Charities SORP;
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make judgments and accounting estimates that are reasonable and prudent;
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state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business.
The trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charitable company 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 charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
In so far as the trustees are aware:
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there is no relevant audit information of which the charitable company’s auditors are unaware; and
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the trustees have taken all steps that they ought to make themselves aware of that information.
Approved by the Trustees on: ____ 17 December 2024
and signed on their behalf by: ______Julia Payne (Chair of Trustees)
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Sound UK Arts
REFERENCE AND ADMINISTRATIVE INFORMATION
YEAR ENDED 31 MARCH 2024
Status
SoundUK Arts is a registered charity (number 1157305) and a company limited by guarantee (number 07300739) and is governed by its Memorandum and Articles of Association.
Registered Office
22 Stanley Avenue Bristol BS7 9AH
Trustees
The Trustees (who are directors for the purpose of company law) who served during the year and since the year-end were as follows:
Clare Jack Sarah Jones Appointed 21 June 2023 Nadav Mordechai Appointed 4 January 2023 Julia Payne Chair Lucy Wood Resigned 11 September 2024 Jason Yarde Resigned 6 June 2024 Chisara Agor Appointed 11 September 2024 Sara Lock Appointed 11 September 2024
Other Key Management Personnel
Polly Eldridge
Maija Handover – standing down as co-ordinator as of October 2024
Independent Examiner
Joshua Kingston BSc. ACA Burton Sweet Limited, Chartered Accountants The Clock Tower 5 Farleigh Court Old Weston Road Flax Bourton Bristol, BS48 1UR
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Sound UK Arts
INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES
YEAR ENDED 31 MARCH 2024
Independent examiner’s report to the trustees of Sound UK Arts
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 March 2024.
Responsibilities and basis of report
As the charity’s trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 (‘the 2006 Act’).
Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity’s accounts as carried out under section 145 of the Charities Act 2011 (‘the 2011 Act’). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5) (b) of the 2011 Act.
Independent examiner’s statement
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:
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accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or
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the accounts do not accord with those records; or
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the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a ‘true and fair view which is not a matter considered as part of an independent examination; or
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the accounts 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 accounts 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 accounts to be reached.
osha
Joshua Kingston BSc. ACA Burton Sweet Limited, Chartered Accountants The Clock Tower 5 Farleigh Court Old Weston Road Flax Bourton Bristol BS48 1UR
17 December 2024 Date: ………………………
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Sound UK Arts
STATEMENT OF FINANCIAL ACTIVITIES (Including Income and Expenditure Account) YEAR ENDED 31 MARCH 2024
| Unrestricted Funds Note £ Income from: Donations and legacies 2 42,748 Charitable activities 3 87,389 Interest receivable 277 Total income 130,414 Expenditure on: Charitable activities 4 151,175 Total expenditure 151,175 Net income/(expenditure) 7 (20,761) Transfers between funds 14 - Net movement in funds (20,761) Total funds brought forward 14 87,730 Total funds carried forward 14 66,969 |
Restricted Funds £ 68,777 - - 68,777 68,777 68,777 - - - - - |
Total Funds 2024 £ 111,525 87,389 277 199,191 219,952 219,952 (20,761) - (20,761) 87,730 66,969 |
Total Funds 2023 £ 150,417 114,933 90 265,440 236,734 236,734 28,706 - 28,706 59,024 87,730 |
|---|---|---|---|
The charity has no recognised gains or losses other than the results for the period as set out above.
All of the activities of the charity are classed as continuing.
Prior year fund comparatives are shown in note 10.
The notes on pages 10 to 18 form part of these financial statements
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Sound UK Arts
BALANCE SHEET
AS AT 31 MARCH 2024
Company number: 07300739
| Note Fixed assets Tangible fixed assets 11 Current assets Debtors 12 Cash at bank and in hand |
2024 2023 £ £ 155 351 25,698 17,126 55,951 89,249 |
|---|---|
| Current assets Creditors: Amounts falling due within one year 13 |
81,649 106,375 (14,835) (18,996) |
| Net current assets | 66,814 87,379 |
| Net assets | 66,969 87,730 |
| Funds Restricted funds 15 Unrestricted Funds Designated funds 15 General funds 15 |
- - 10,744 25,000 56,225 62,730 |
| 66,969 87,730 |
For the year ended 31 March 2024, the charitable company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the charitable company to obtain an audit of its accounts for the period in question in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
These financial statements were approved by the Trustees on ……............................ and are signed on 17 December 2024 their behalf by:
……………………………………..
Julia Payne (Chair of Trustees)
The notes on pages 10 to 18 form part of these financial statements
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Sound UK Arts
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 MARCH 2024
1 Accounting policies
- a) The financial statements have been prepared in accordance with the historical cost convention (except where otherwise stated in the accounting policy note) and in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) issued in October 2019, and the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102), and the Companies Act 2006.
The Charity is a public benefit entity as defined under FRS102.
There are no material uncertainties about the charity’s ability to continue as a going concern, despite the significant uncertainty being the cost of living crisis. Whilst the Trustees expect there to be an impact on the charity’s operations and reserves in the coming months and years, the charity has sufficient reserves to be able to meet these challenges.
- b) Income from donations is included as income when these are receivable, except as follows:
i) When donors specify that donations given to the charity must be used in future accounting periods, the income is deferred until those periods.
ii) When donors impose conditions which have to be fulfilled before the charity becomes entitled to use such income, the income is deferred until the pre-condition have been met.
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c) Fees receivable and charges for services are accounted for in the period in which the service is provided.
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d) Grants, including grants for fixed assets, are recognised within the accounts as they become receivable. Grants received in the accounting period in respect of future accounting periods are deferred until those periods. All material grants are disclosed in accordance with the Statement of Recommended Practice.
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e) All expenditure is directly attributable to charitable activities and has been included in that cost category. Support costs have been included entirely under the heading Charitable Activities.
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f) Governance costs include those costs associated with meeting the constitutional and statutory requirements of the charity and include costs linked to the strategic management of the charity.
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g) Any fixed assets purchased are capitalised at cost. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Equipment - 3 years straight line
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h) 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 discounts due.
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i) Cash at bank and cash 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.
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Sound UK Arts
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 MARCH 2024
1 Accounting policies (continued)
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j) 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 discounts due.
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k) Unrestricted funds can be used in accordance with the charitable objects at the discretion of the - Free funds represent the free reserves of the charity
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Designated funds represent funds set aside by the trustees.
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l) Restricted funds 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. Expenditure which meets these criteria is charged to the fund, together with a fair allocation of management and support costs. Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
2 Donations and legacies
| Unrestricted Funds £ Grants receivable 42,748 42,748 Prior year comparative Unrestricted Funds £ Grants receivable 102,431 102,431 Income from charitable activities Unrestricted Restricted Funds Funds £ £ Performance fees 37,831 - Project management fees 24,527 - Merchandise 1,565 - Repayment of costs linked to projects 20,539 - Press services 2,927 - 87,389 - |
Restricted Funds £ 68,777 68,777 Restricted Funds £ 47,986 47,986 Total Funds 2024 £ 37,831 24,527 1,565 20,539 2,927 87,389 |
Total Funds 2024 £ 111,525 111,525 Total Funds 2023 £ 150,417 150,417 Total Funds 2023 £ 81,878 9,331 4,935 16,122 2,667 114,933 |
|---|---|---|
3 Income from charitable activities
Income from charitable activities in the prior year was unrestricted other than £585 received from consultancy fees which was represented by restricted funds.
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Sound UK Arts
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 MARCH 2024
4 Expenditure on charitable activities
| Unrestricted Funds £ Wages and salaries 69,760 Artists fees 34,744 Outreach costs 1,021 Freelance payments 732 Rental of office space 75 Equipment hire 4,044 Telephone 1,499 Post and stationery 162 Advertising & Marketing 2,960 Design and printing 3,837 Insurance 3,317 Computer repairs & maintenance 1,502 Licences and subscriptions 2,103 Travel and subsistence 4,150 Sundry expenses 2,017 Depreciation 196 Entertainment 30 Legal and professional expenses 11,260 Website development 1,857 Bank charges 359 Accountancy costs 1,997 Training 882 Governance costs (note 5) 2,671 151,175 |
Restricted Funds £ 18,426 29,430 7,312 - - 12,450 - - - - - - - 1,159 - - - - - - - - - 68,777 |
Total Funds 2024 £ 88,186 64,174 8,333 732 75 16,494 1,499 162 2,960 3,837 3,317 1,502 2,103 5,309 2,017 196 30 11,260 1,857 359 1,997 882 2,671 219,952 |
|---|---|---|
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Sound UK Arts
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 MARCH 2024
4 Expenditure on charitable activities ( continued )
Prior year comparatives
| Unrestricted Funds £ Wages and salaries 56,209 Artists fees 77,246 Outreach costs 4,148 Freelance payments 1,620 Equipment hire 15,562 Telephone 1,244 Post and stationery 234 Advertising & Marketing 6,518 Design and printing 3,047 Insurance 2,582 Computer repairs & maintenance 1,227 Licences and subscriptions 660 Travel and subsistence 2,822 Sundry expenses 3,398 Depreciation 378 Entertainment 1,070 Legal and professional expenses 1,855 Website development 1,194 Bank charges 446 Accountancy costs 2,251 Training 396 Governance costs (note 5) 1,708 185,815 |
Restricted Funds £ 27,932 19,737 - - 3,250 - - - - - - - - - - - - - - - - - 50,919 |
Total Funds 2023 £ 84,141 96,983 4,148 1,620 18,812 1,244 234 6,518 3,047 2,582 1,227 660 2,822 3,398 378 1,070 1,855 1,194 446 2,251 396 1,708 236,734 |
|---|---|---|
5 Governance costs
| Unrestricted Funds £ Independent examiner's fees 2,368 Trustees' meeting expenses 303 2,671 |
Restricted Funds £ - - - |
Total Funds 2024 £ 2,368 303 2,671 |
Total Funds 2023 £ 1,535 173 1,708 |
|---|---|---|---|
Governance costs in the prior year were unrestricted.
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Sound UK Arts
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 MARCH 2024
6 Staff costs
----- Start of picture text -----
||||
|---|---|---|
|2024|2023|
|The total staff costs were as follows:|£|£|
|Wages and salaries|84,713|79,969|
|Social security costs|852|1,714|
|Other pension costs|2,621|2,458|
|88,186|84,141|
|The average number of employees during the year was as follows:|Total|Total|
|2024|2023|
|Average number (headcount) of employees|4|4|
----- End of picture text -----
No employee received remuneration of more than £60,000 during the year (2023: Nil).
The total aggregate employment benefits received by key management personnel were £57,567 (2023: £61,150).
7 Net income/(expenditure) for the year
----- Start of picture text -----
||||
|---|---|---|
|2024|2023|
|This is stated after charging:|£|£|
|Depreciation|196|378|
|Independent examiner's fees|
|- for current year|1,870|1,535|
|- for other services|333|-|
|- over/under accrual|165|-|
----- End of picture text -----
8 Trustees' remuneration and related transactions
There were no donations from Trustees, key management personnel and related parties in either the current year or preceding year.
No Trustees had expenses waived during the year (2023: 1). No Trustees (2023: Nil) was reimbursed (2023: £Nil) for travel expenses incurred during the year. No trustee received remuneration either in the current, or preceding year.
9 Taxation
The charity is exempt from Corporation Tax on its charitable activities.
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Sound UK Arts
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 MARCH 2024
10 Prior year fund comparatives
| Unrestricted Funds £ Income from: Donations and legacies 102,431 Charitable activities 112,475 Interest receivable 90 Total income 214,996 Expenditure on: Charitable activities 185,815 Total expenditure 185,815 Net income/(expenditure) 29,181 Transfer between funds - Net movement in funds 29,181 Total funds brought forward 58,549 Total funds carried forward 87,730 11 Tangible Fixed Assets Cost At 1 April 2023 Additions At 31 March 2024 Depreciation At 1 April 2023 Charge for the year At 31 March 2024 Net Book Value At 31 March 2024 At 31 March 2023 |
Restricted Funds £ 47,986 2,458 - 50,444 50,919 50,919 (475) - (475) 475 - Equipment £ 4,264 - 4,264 3,913 196 4,109 155 351 |
Total Funds 2023 £ 150,417 114,933 90 265,440 236,734 236,734 28,706 - 28,706 59,024 87,730 Total £ 4,264 - 4,264 3,913 196 4,109 155 351 |
|---|---|---|
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Sound UK Arts
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 MARCH 2024
12 Debtors
| Trade debtors Prepayments and accrued income Other debtors 13 Creditors: Amounts falling due within one year Trade creditors Taxation and social security Accruals and deferred income Other creditors 14 Movement in funds At 1 Apr 2023 Income £ £ Restricted funds PRS - Sound Generator - 12,000 Arts Council - Sound Generator - 11,000 PRF - Trees - 1,250 Arts Council - Trees - 29,527 PRF - Drifters - 1,500 PRF - Unfunded/Agency - 250 Arts Council - Overheads - 13,250 - 68,777 Unrestricted funds Designated funds Future programmes 25,000 - General funds 62,730 130,414 87,730 130,414 Total funds 87,730 199,191 |
Expenditure £ (12,000) (11,000) (1,250) (29,527) (1,500) (250) (13,250) (68,777) (14,256) (136,919) (151,175) (219,952) |
2024 £ 21,988 3,710 - 25,698 2024 £ 765 10,730 2,108 1,232 14,835 Transfers £ - - - - - - - - - - - - |
2023 £ 13,534 3,525 67 17,126 2023 £ 3,778 10,965 2,585 1,668 18,996 At 31 Mar 2024 £ - - - - - - - - 10,744 56,225 66,969 66,969 |
|---|---|---|---|
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Sound UK Arts
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 MARCH 2024
14 Movement in funds (continued)
| Prior year comparatives Restricted funds PRS - TDP PRS - NMB Arts Council England Historic England Unrestricted funds Designated funds Future programmes General Funds Total funds |
At 1 Apr 2022 £ 475 - - - 475 6,328 52,221 58,549 59,024 |
Income £ 7,500 11,694 6,250 25,000 50,444 - 214,996 214,996 265,440 |
Expenditure £ (7,975) (11,694) (6,250) (25,000) (50,919) (6,328) (179,487) (185,815) (236,734) |
Transfers £ - - - - - 25,000 (25,000) - - |
At 31 Mar 2023 £ - - - - - 25,000 62,730 87,730 87,730 |
|---|---|---|---|---|---|
Purpose of restricted funds
PRS - Sound Generator Funds towards artist development programme. Arts Council - Sound Funds towards artist development programme. Generator PRF - Trees Funds towards creation outdoor sound installation. Arts Council - Trees Funds towards creation outdoor sound installation. PRF - Drifters Funds towards supporting commission for a rural tour of the SW. PRF - Unfunded/Agency Funds to support development of The Paper Cinema. Arts Council - Overheads Funds towards core costs and consultancy for business development. PRS - TDP Funds received towards the artistic and production costs of A Song For Us, Keeley Limbs and Sound Generator. PRS - NMB Funds received towards the artistic and production costs of Keeley NMB.
Funds received towards the artistic and production costs of A Song Arts Council England For Us. Funds received towards the artistic and production costs of Sound Historic England Walks.
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Sound UK Arts
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 MARCH 2024
14 Movement in funds (continued)
Purpose of designated funds
Future programmes This represents unrestricted income carried forward to cover project or overhead costs in subsequent years. These funds were spent on the allocated projects in the year. Funds have also been allocated for charitable activities scheduled to take place in the following year.
15 Analysis of net assets between funds
| Restricted funds Unrestricted funds Designated funds General funds Prior year comparatives Restricted funds Unrestricted funds Designated funds General funds |
Tangible Fixed assets £ - - 155 155 Tangible Fixed assets £ - - 351 351 |
Other Net assets £ - 10,744 56,070 66,814 Other Net assets £ - 25,000 62,379 87,379 |
Total 2024 £ - 10,744 56,225 66,969 Total 2023 £ - 25,000 62,730 87,730 |
|
|---|---|---|---|---|
16 Related party
There were no related party transactions during either the current or preceding year.
17 Company limited by guarantee
The company is limited by guarantee and as such has no issued share capital. In the event of the company being wound up the liability of the members is limited to £1 each.
18