## **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.
1
## **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;
- 4,549 live audiences
- 11,276 streamed recordings
- Supported 6 emerging artists to develop an innovative idea through Sound Generator.
- 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
- The Secret Sound of Trees: Powerful site-specific sound and light installation in the Forest of Dean.
- Remounting of The Paper Cinema ghost stories production.
- Ice Music: Return of Terje Isungset with his ice quartet.
- The Fleet: 8 date tour and workshops across the South West for new commission live soundtrack and remounting of soundtrack to 1929 film Drifters.
- Artist and audience development through new projects.
- Third year of artist development programme Sound Generator successfully completed
2
## **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
3
## **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.
4
## **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:
- select suitable accounting policies and then apply them consistently;
- observe the methods and principles in the Charities SORP;
- make judgments and accounting estimates that are reasonable and prudent;
- state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
- 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:
- there is no relevant audit information of which the charitable company’s auditors are unaware; and
- 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)
5
## **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
6
## **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:
- accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or
- the accounts do not accord with those records; or
- 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
- 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: ………………………
7
## **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**
8
## **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**
9
## **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.
- c) Fees receivable and charges for services are accounted for in the period in which the service is provided.
- 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.
- 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.
- 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.
- 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
- 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.
- 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.
10
## **Sound UK Arts**
## **NOTES TO THE FINANCIAL STATEMENTS**
## **YEAR ENDED 31 MARCH 2024**
## **1 Accounting policies (continued)**
- 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.
- 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
- Designated funds represent funds set aside by the trustees.
- 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.
11
## **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|
|---|---|---|
12
**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.
13
## **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.
14
**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|
|---|---|---|
15
## **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|
|---|---|---|---|
16
## **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.
17
**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