## **THE SOUND ROOM COMMUNITY MUSIC PROJECT CIO** **ANNUAL REPORT AND FINANCIAL STATEMENTS For the year ended 31 March 2024** ## **Charity Number 1157494** **THE SOUND ROOM COMMUNITY MUSIC PROJECT CIO** ## **TRUSTEES ANNUAL REPORT** For the year ended 31 March 2023 The Trustees are pleased to present the Annual Report together with the financial statements of the charity for the period ended 31 March 2024, which are also prepared to meet the requirements for a Directors Report and Accounts for Companies Act purposes. The financial statements comply with the Charities Act 2011, the Memorandum and Articles of Association, and Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities, preparing their accounts in accordance with the Financial Reporting Standards, applicable to the UK and Republic of Ireland(FRS 102)[effective 1st January 2015]. benefit when reviewing the Charities objectives and planning its future activities. This Annual Report aims to demonstrate the link between our charitable activity and how this benefits our service users. ## **1. OUR HISTORY** The Soundroom was originally set up as a recording resource for The Deckham Music Collective (DMC) in 1985, under the ethos of an affordable and accessible way to make, perform and record music for local people. The project has a unique social 1 **THE SOUND ROOM COMMUNITY MUSIC PROJECT CIO TRUSTEES ANNUAL REPORT** For the year ended 31 March 2023 been housed in a few different venues over the years before settling at its current location in the year 2000; the Old Redheugh Library building, one of the first community libraries in Gateshead. The Soundroom Community Music Project was subsequently founded as a standalone project in the year 2000, part of the millennial projects and became a non-profit Charitable Incorporated Organisation (CIO) in 2014. Responsibility of the locally listed building was transferred to the Charity in the form of a 35-year lease from the local authority in 2019. ## **2. OBJECTIVES AND ACTIVITIES** We believe that access to music and the arts greatly improves the quality of life for people in our community. The Charity works for the public benefit and aims to provide a high quality resource for the development of music and the related arts for the residents of Gateshead and surrounding areas, identify and meet musical needs of different age groups in our community; elderly people, disabled people, families, children, and young people, and focus the project on marginalised and/or vulnerable groups, including those from deprived socio-economic backgrounds. ## **3. OUTCOMES AND AIMS** The outcome of the charity is to: - Enrich the lives for people, groups and communities, through music and related arts - Provide vibrant opportunities to participate in musical experiences and guide people through their musical journey - Create a truly inclusive space at the heart of the community with modern facilities Be a resilient, focused and well managed charity And the charity wishes to achieve these outcomes in with the following aims: - Increase participation amongst groups less likely to engage in culture - Grow the programme of opportunities in response to users needs and aspirations - Invest in capacity, facilities, and equipment and strengthen governance and operations 2 **THE SOUND ROOM COMMUNITY MUSIC PROJECT CIO TRUSTEES ANNUAL REPORT** For the year ended 31 March 2023 ## **4. ACHIEVEMENTS AND PERFORMANCE** We are pleased to report that we continue to receive many new people and groups coming through our doors. We continually strive to support some of the most vulnerable members of our community through our planned programme of mental health and well-being activities providing open access social and learning activities. ## **Weekly Community Activities** - a) **Gateshead Original Music Cafes** and extra seasonal events - The ever-popular music cafes are well attended on both days, and we now have two separate volunteer bands regularly taking on the challenge of playing unrehearsed songs put to them as requested by the service users. Thanks to a grant from Percy Bilton, we have been able to purchase additional percussion instruments for the service users of the cafes. Also, a grant from Persimmon Homes will allow more resources to improve our creative offer to the community. 3 **THE SOUND ROOM COMMUNITY MUSIC PROJECT CIO TRUSTEES ANNUAL REPORT** For the year ended 31 March 2023 - b) **Continuing our lottery funded community music project Loud & Proud Drummers formed** - In addition to the twice-weekly music cafes our group of drummers, who had previously attended grant-funded learn to drums workshops, continue to practice every Monday and have performed for other groups and events at the Soundroom over this reporting year, we have also supported many more community organisations by providing low cost PA, instruments and other equipment for many community events throughout the year. - c) **Guitar Socials** We also hold weekly �Guitar lessons� drop-in learning and social sessions for local community members which have proved to be popular with people of differing ages and from all walks of life. This group is possible due to the support of a prior youth member of the Soundroom, who facilitates this group in addition to running his own Learn Guitar School. - d) **Afterschool Music and Street Dance** sessions continue to thrive, following a review of staff resources and future collaboration needs, we have changed things around this year with a shift in our music partnership strategy bringing the management of our projects, and staff resources fully in-house. This transition has opened up new possibilities, allowing a direct focus on the impact of our grassroots music-making objectives and ensuring that our support, management and professional contributions to the community are fully recognised and valued. We would like to take this opportunity to express our thanks to EBNE for supporting part of our music making offer, as we eagerly look ahead to what the future holds. - e) **Gateshead Youth Music Nights** Following the decision to focus on our own project delivery we continue to celebrate the diverse creative offer through our drop in Thursday Youth Music night (13-18 years) The sessions are co facilitated by a local freelancer Singer/Songwriter and Soundroom Staff (Lead Safeguarding Officer and Sound Engineer/Drummer) who all have their up-todate Safeguarding training. Both evenings are attended by a diverse range of children/youth. Healthy fruit and snacks are provided at each of these sessions which helps support any children affected by food insecurity. - f) **School Holiday clubs** In addition to our popular term-time activities, and due to an offer presented by Gateshead Brighten The Day team, we were able to host a popular two week summer and Easter activities club for primary aged children (8-12 years)and additional youth services. We extended the delivery day opening times to further assist working families, The young people had the chance to participate in an exciting, hands-on music-making and performance extravaganza, offering them a unique and creative experience. Activities included songwriting workshops, recording sessions, creating a radio show, learning to play the guitar and ukulele, developing and choreographing their own street dance routines, and even crafting musical instruments. To support their wellbeing, we provided healthy snacks and lunches each day. The two-week programme culminated in a lively performance by the children for their parents 4 **THE SOUND ROOM COMMUNITY MUSIC PROJECT CIO TRUSTEES ANNUAL REPORT** ## For the year ended 31 March 2023 and carers, which was met with enthusiastic positive feedback and appreciation from all - g) **Community Cinema Club Warm Spaces** Warm Spaces grant from Gateshead Council, we were able to provide a Warm Space every Wednesday afternoon during October 2023 to March 2024 with a licensed film club showing musical themed films and the popular guitar social , including refreshments and snacks. ## **New Projects** ## **Science Week** - to take part in our first science week project based on vintage music recording equipment. ## **Community Music for Mental Health and well-being groups** A positive step to fulfilling our aims and objectives has been to provide community space for local mental health and well-being groups funded via levelling up community chest funding . These groups have been well attended with positive feedback from the service users. ## **Heritage Project** The National Heritage Lottery funded our Collective Sounds community music project to investigate our reel to reel music recording archive and our historical records, is well underway and we hope to culminate this project next year 5 **THE SOUND ROOM COMMUNITY MUSIC PROJECT CIO** ## **TRUSTEES ANNUAL REPORT** For the year ended 31 March 2023 history. This project has been a great discussion starter and has even attracted past users of the Soundroom to visit, share their stories and even start rehearsing again here. ## **Rehearsal and Recording Facilities** As a result of all the hard work our staff and volunteers put into ensuring our facility is ready and welcoming to all who may enter our premises, our income revenue continues to steadily rise particularly now the online booking system for rehearsal and community spaces is well known. We have on over 35 regular monthly rehearsal band customers with opportunity for additional rehearsal times being quickly and easily filled via the online booking app. Even with the slight increase in charges for renting space, the continual bookings show that we remain affordable for our local community groups and also the general public. Our limited availability for recording studio bookings continue to prove popular with local songwriters, local primary schools, youth groups and the Jewish community. ## **Building** Building repairs and improvements continue to be an ongoing financial challenge for the Charity but the Trustees acknowledge the importance of having a safe, secure building for future sustainability. Small building maintenance and improvements have been continually carried out throughout the year with support from our team of dedicated volunteers. The Trustees acknowledge that larger buildings works are required, particularly on our roof, and investment is being made to secure larger capital funding. This essential work will not only ensure our building remains watertight, benefitting our present clientele but also continue to welcome an increase our capacity to provide more community music activities. We are immensely grateful to funding to replace and upgrade the buildings full fire alarm system and control panel on site to comply with modern building regulations from the following fund(s) Gateshead Council development at the Community Foundation. ## **Staffing & Volunteers** Our small dedicated staff duo supported by our dedicated band of volunteers have gone above and beyond to ensure the Charity�s continuance in the expanding of our programme of activities. This means that �whatever your sound� music continues to be heard throughout our community building from 10am to 10pm most days. ## **Volunteer Contribution** Community music making and upkeep of our community building would not be possible at The Soundroom without acknowledging the incredible support received by 30+ volunteer supporters this year. Our dedicated volunteer team have pledged over 2000 hours of their time to ensure our community building remains open from 10am - 10pm weekdays and occasional weekends. This dedicated group of volunteers, both 6 **THE SOUND ROOM COMMUNITY MUSIC PROJECT CIO** ## **TRUSTEES ANNUAL REPORT** For the year ended 31 March 2023 from within our local community, user groups and further afield, continue to contribute time to ensure the Charity is supported in whichever way it is required. One of our long serving volunteers, was recognised for his hard work and dedication not only for his services to the Soundroom (in particular to overseeing the aforementioned music cafes when we became a Charity) but also as a past volunteer for Gateshead Council and received a Lifetime Achievement Award at the Marriott Hotel in June 2023 presented by the leader of Gateshead Council. ## **Learning & Development** Staff and keyholder volunteers have updated Fire Warden Safety Training, Health & Safety training and Safeguarding Leads have undertaken Level 3 Safeguarding training. A volunteer who had previously self-enrolled on a PAT Testing course in March 2023 has put his training into use and supports the staff member with PAT testing equipment. We have hosted work experience programmes for university, college and school students, offering valuable support and mentorship to help them build skills and confidence. Additionally, we have supported service users facing health challenges and those in recovery by providing volunteering opportunities within our project. This experience has helped them gain self-worth and confidence, ultimately opening doors to new employment opportunities. We also assist by providing job references, further supporting them on their journey to meaningful employment. ## **Inclusion, Diversity and Equality** The Charity continues to support inclusion, diversity and quality wherever possible. There is evidence of this within our community groups. The Charity aims to work with all areas of our community, regardless of age, disability, gender, race, religion or beliefs, and sexual or gender preference. We support clients with mental health issues to express themselves through spoken word, singing and recording sessions. We also thank our funders for the year: Percy Bilton, Community Foundation, Persimmon Homes, Lady Neville Skinners fund, Catherine Cookson fund, Local Giving, BSA British Science fund, Gateshead Council Brighten the Day, ??anyone else?? ## **5. PLANS FOR THE FUTURE** We have bold plans to continue our capital building development work in 2024/25, with a focus on replacing our aging roof, and building entrance accessibility, looking to a range of funders to support our redevelopment. This will enable us to increase our capacity to include more young people and adults with disability needs. It will also give us additional space to showcase music and arts based events, enhance our hospitality offer and provide a much needed dedicated social seating and refreshment zone. 7 **THE SOUND ROOM COMMUNITY MUSIC PROJECT CIO TRUSTEES ANNUAL REPORT** For the year ended 31 March 2023 Both Trustees and staff continue to work towards providing a greater range of services for all, whilst maintaining the very popular present activities that are well attended by the local community. We continue to be a not for profit charity, additional revenue, fundraising, donations or support is put back into providing activities and services for our community. We additionally hope that by securing more funding to support our employees and to continue to grow our organisation to meet the changing needs of our community. Our organisational aims continue to be the same and our community development work is our priority and will be determined by our management committee, centre users and volunteers. All of our work is subject to available funding and capacity within the organisation. We hope that with the renewed focus on completion of our capital building development work focus on Raise our roof campaign to ensure the building is watertight for the future Financials we are pleased to report, revenue streams of over 10k for rehearsal spaces have increased to help the organisation help with its sustainability goals We also hope from an energy saving perspective to secure funding to continue helping us incorporate energy saving technology into our community building, including solar panels, double glazed windows and roof insulation this will help reduce our core running costs, improve our carbon footprint and reduce reliance on fossil fuels. - Building repairs and refurbishment will continue to ensure the premises remain accessible, safe, secure and aesthetically pleasing for all users. - Strengthening our governance, with improvements to Trustee induction and development - Working towards greater financial sustainability by exploring more hospitality bookings - Developing our existing charitable offer to include additional provision for much needed social and wellness projects for mental health and well-being. - Tuition services, opportunities for playing a musical instrument are open to all, especially for young people. - Continuing our popular holiday activity programme for local school children - Expanding our refreshment offer with feasibility for refurbishing the kitchen to accommodate launching a hot food service in our community café - Accrediting our real living wage employer status - Securing significant grant funding to develop our capital building plans, services and community activities - Developing a new three-year strategy 8 **THE SOUND ROOM COMMUNITY MUSIC PROJECT CIO TRUSTEES ANNUAL REPORT** For the year ended 31 March 2023 ## **6. CUSTOMER AND VOLUNTEER FEEDBACK** The Soundroom is one of Gateshead�s real gems . I have signposted many people I�ve worked with to their services and others have since become volunteers. The thing I love about the Soundroom and the highest compliment I can give it is that it feels like home whenever I visit, and everyone that I know who has used this fantastic facility says the same. I would like to thank The Soundroom for the opportunities it has given me to learn to play the guitar, which I never thought for one minute I could achieve at the grand age of 80+. The place is so welcoming and I have met people from all different backgrounds, we all say the sessions have been great for confidence, self esteem and happiness. The Charity has been very supportive with providing a safe and welcoming space to be creative in music for some of our most vulnerable and marginalised people in Gateshead. The project is based at The Soundroom and supports people who have complex mental health issues and the Soundroom has been pivotal to their recovery. There is genuine care, encouragement and commitment from all the staff and volunteers and this has made a dramatic difference to people being accepted for who they are and what potential they can learn and achieve through music. The main reason I volunteer for this unique charity is because I enjoy the social part of being in a band, have opportunities to play music and sing, and feel passionate about making a difference, particularly when entertaining the clients with learning disabilities. I also enjoy being part of an organisation that aligns with my own values and belonging, gives me a sense of purpose, and supports me with my own lived experience of mental health issues and long-term physical wellbeing. ## **7. ENVIRONMENTAL IMPACT REVIEW** As a Charity with the community at its heart we are committed to providing a better life experience for all. That is why we are prioritising becoming a greener Charity and making sure we implement Environmental and Sustainability Strategies. The Soundroom acknowledge the connection between the climate and environmental crises. We recognise our responsibility to reduce both our carbon and environmental footprint and commit to be an environmentally responsible Charity. To achieve this, we commit to the following actions: ## _Our Commitment:_ - _The Soundroom has appointed the Centre Manager to take responsibility for enacting and reporting on its commitment to becoming an environmentally responsible organisation._ - _Staff, volunteers and contractors will be expected to help The Soundroom in carrying out its aim of being an environmentally responsible organisation, particularly in the way they carry out their day-to-day duties._ 9 **THE SOUND ROOM COMMUNITY MUSIC PROJECT CIO TRUSTEES ANNUAL REPORT** For the year ended 31 March 2023 _Induction procedures for new staff/volunteers/contractors will include information on the Charity�s environmental practices._ ## **8. FUNDRAISING** Community Foundation Tyne and Wear continue to be essential funders to our project, without their help we could not deliver the wide ranging support we offer to our community. As our earned income has recovered from the pandemic the support we have had has been invaluable to us. It has meant not making reductions to our team or to our community expectations. The demands for our services have been at a record high, so without the grant aid we have received it would not have been possible for us to meet these challenges. We are extremely grateful for the support from our musician community. Many of the achievements we have mentioned in this year report have only been made possible because of the exceptional support our charity has received from staff and volunteers ## **9. FINANCIAL REVIEW** The review of the financial year to 31st March 2024 shows the project generated income of £57,703 (2023: £50,871) which comes from a range of different sources. Earned income through room rental, rehearsals and recording, and café sale, ticket sales, Donations and Public Grants. The financial position for the year was net incoming funds of £57,703 (2023: £50,871) and total outgoing resources of £51,077 (2023: £55,107). This leaves total funds of £31,430 (2023: £24,804), of which £11,787 is restricted (2023: £6,552) and £19,643 (2023: £18,252) is unrestricted. ## Reserves Policy It is the policy of the Charity to try to build up free reserves of the Charity, (unrestricted funds not invested in tangible fixed assets) to a level that equates to approximately six months of expenditure. This will provide enough funds to cover management and administration support costs and any emergencies that may arise from time to time. At 31 March 2024 the free reserves were £19,643 (2023: £18,252) which equates to approximately five months of expenditure. ## **REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISORS** Charity Name The Soundroom Community Music Project CIO 10 **THE SOUND ROOM COMMUNITY MUSIC PROJECT CIO TRUSTEES ANNUAL REPORT** For the year ended 31 March 2023 Registered Charity 1157494 Number Registered Office and The Soundroom Operational address Old Redheugh Library Cuthbert Street, Gateshead, NE8 1PH ## Trustees Jus n Hancock Lisa Leonard Barbara Donkin Christopher Carter Stephen Ferrell Appointed December 2023 ## **10. STRUCTURE, GOVERNANCE AND MANAGEMENT** Charitable Incorporated Organisation - Foundation Model - whereby the only voting members are the Charity Trustees. We have adopted the Charity Commissions Model Constitution to ensure we comply with the Charities Act 2011 (the 2011 Act) and the General Regulations. This helps us to ensure we: - Reflect recommended best practice; and - Are legally compliant Trustees are appointed for their individual knowledge, experience and skills that are considered essential to ensure the charity�s effective administration and its continued sustainability, growth and development. Trustees are appointed by the Board of Trustees in a properly convened meeting. Trustees are also screened using a needs and skillsets assessment. This approach enables us to: - Ensure we have the right skills mix on the Board to meet the administrative needs of the charity - Ensure we do have a range of Trustees from diverse professional backgrounds to build knowledge and skills - Mitigate any potential risks or threats to the charity, as far as possible; and reduce, as far as is possible, the potential for any conflicts of interest with each Trustee and their existing professional occupations. 11 **THE SOUND ROOM COMMUNITY MUSIC PROJECT CIO** ## **TRUSTEES ANNUAL REPORT** For the year ended 31 March 2023 ## **Organisation** The Trustees meet each quarter and deal with the administration of the charity encompassing the strategic vision, financial accountability and risk management. The operational management of the organisation is undertaken by the paid staff team. ## **Risk Management** The charity is managed by the board of trustees which meets quarterly and delegates the day to day running of the organisation to the Chief Officer and staff. The trustee board maintains responsibility for the strategic direction of the charity and for its funding and financial management. There is an AGM meeting each year. The Trustees have conducted its own review of the major risks to which the charity is exposed, and systems have been established to mitigate those risks. Internal risks are minimised by the implementation of procedures for authorisation of all transactions and projects and for ensuring the consistent quality of the delivery of all operational aspects of the charitable company. These procedures and risk register are periodically reviewed to ensure that they still meet the needs of the charity. ## **11. STATEMENT ON PUBLIC BENEFIT** The Trustees have considered the guidance produced by the Charity Commission on the provision of public benefit and they confirm that the range of activities has provided the public benefit as described above. How our Aims reflect the purpose of the Charity: - Our Charitable activities focus on providing accessible, affordable, and inspiring musical and creative opportunities; especially for those experiencing social exclusion, young people, and vulnerable people. - Our management structure is that of a Board of Trustees who meet quarterly and who have responsibility to oversee the direction and management of grant funds and finances. They hold an Annual General Meeting open to the general public. ## **12. STATEMENT OF TRUSTEE RESPONSIBILITIES** The charity trustees are responsible for preparing a trustees annual report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). The charity trustees are required to prepare financial statements for each year which give a true and fair view of the state of affairs of the charitable company and of incoming resources and application of resources. In preparing financial statements, the trustees are required to: - Select suitable accounting policies and apply them consistently; - Observe the methods and principles in the Charities SORP; 12 **THE SOUND ROOM COMMUNITY MUSIC PROJECT CIO TRUSTEES ANNUAL REPORT** For the year ended 31 March 2023 Make judgements and estimates that are reasonable and prudent; State whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; Prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation. The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. _Approved by the Trustees on 2 January 2025 and signed on their behalf by:_ **NAME:** Justin Hancock **POSITION:** Trustee 13 ## **THE SOUNDROOM COMMUNITY MUSIC PROJECT** ## **INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES** For the year ended 31 March 2024 I report on the financial statements of The Soundroom Community Music Project for the year ended 31 March 2024, which are set out on pages 15 to 25. ## **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 of the Charities Act 2011 ("the Charities Act) and that an independent examination is needed. Having satisfied myself that the charity is not subject to audit under company law and is eligible for independent examination, it is my responsibility to: - examine the accounts under section 145 of the Charities Act, - to follow the procedures laid down in the general Directions given by the Charity Commission (under section 145(5)(b) of the Charities Act), and to state whether particular matters have come to my attention. ## **Basis of independent examiner's statement** My examination was carried out in accordance with 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 the 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 material matters have come to my attention which gives me cause to believe that in, any material respect: the accounting records were not kept in accordance with section 130 of the Charities Act; or - the accounts did not accord with the accounting records; or - the accounts did not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than if the requirements that the accounts give a "true and fair" view which is not a matter considered as part of an independent examination. I 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. Jim Dodds 33 The Glebe Morpeth Northumberland NE61 6HW Date: 14 ## **THE SOUNDROOM COMMUNITY MUSIC PROJECT** ## **STATEMENT OF FINANCIAL ACTIVITIES** For the year ended 31 March 2024 **----- Start of picture text -----**
Unrestricted Restricted Total Total
Funds Funds 2024 2023
£ £ £ £
Income from:
Donations and legacies 6 5,093 - 5,093 5,405
Charitable activities
Grants and contracts 7 533 19,742 20,275 21,871
Other trading activities 8 32,335 - 32,335 23,595
Total income 37,961 19,742 57,703 50,871
Expenditure on:
Raising funds 9 681 23 704 1,294
Charitable activities
Operation of the charity 10 35,889 14,484 50,373 53,813
Total expenditure 36,570 14,507 51,077 55,107
Net movement of funds 1,391 5,235 6,626 ( 4,236 )
Reconciliation of funds
Total funds brought forward 18,252 6,552 24,804 29,040
Total funds carried forward 19,643 11,787 31,430 24,804
Notes
**----- End of picture text -----**
The Statement of Financial Activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities The notes on pages 17 to 25 form an integral part of these accounts. 15 Charity Number 1157494 ## **THE SOUNDROOM COMMUNITY MUSIC PROJECT** ## **BALANCE SHEET** As at 31 March 2024 **----- Start of picture text -----**
Total Total
2024 2023
£ £ £ £
Current assets
Debtors 17 408 111
Cash at bank and in hand 18 32,477 26,654
Total current assets 32,885 26,765
Creditors: amounts falling due within
one year 19 ( 1,455 ) ( 1,961 )
Net current assets 31,430 24,804
Total assets less current liabilities 31,430 24,804
Total net assets or liabilities 31,430 24,804
Funds of the charity
Unrestricted income funds 19,643 18,252
Restricted income funds 11,787 6,552
Total funds 31,430 24,804
Notes
**----- End of picture text -----**
The notes on pages 17 to 25 form an integral part of these accounts. These financial statements were approved by the Board on: and are signed on its behalf by: Justin Hancock Chair 16 ## **THE SOUNDROOM COMMUNITY MUSIC PROJECT** ## **NOTES TO THE FINANCIAL STATEMENTS** For the year ended 31 March 2024 ## 1 **Accounting Policies** The principle accounting policies adopted, judgements and key sources of estimation uncertainty in the preparation of the financial statements are as follows: ## 2 **Basis of accounting** ## 2.1 **Basis of preparation** These accounts have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant note(s) to these accounts. The accounts 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 applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019) �Charities SORP (FRS 102), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011. The Soundroom Community Music Project meets the definition of a public benefit entity under FRS 102. ## 2.2 **Preparation of the accounts on a going concern basis** The charity reported total unrestricted funds at the year end of £19,643 and has already secured a significant amount of funding for the current year. The trustees are of the view that the immediate future of the charity for the next 12 to 18 months is secure and that on this basis the charity is a going concern. ## 3 **Income** ## 3.1 **Recognition of income** Income is recognised when the charity has entitlement to the resources, any performance conditions attached to the item(s) of income have been met, it is more likely than not that the resources will be received and the monetary value can be measured with sufficient reliably. ## 3.2 **Offsetting** There has been no offsetting of assets and liabilities, or income and expenses, unless required or permitted by FRS102 SORP or FRS102. ## 3.3 **Grants and donations** Income from government and other grants, whether �capital�grants or �revenue�grants, is recognised when the charity has entitlement to the funds, any performance conditions attached to the grants have been met, it is probable that the income will be received and the amount can be measured reliably and is not deferred. Income received in advance or provision of other specified service is deferred until the criteria of income recognition are met. 17 ## **THE SOUNDROOM COMMUNITY MUSIC PROJECT** ## **NOTES TO THE FINANCIAL STATEMENTS** For the year ended 31 March 2024 ## 3.4 **Volunteer help** The value of volunteer help received is not included in the accounts but is described in the trustees' annual report. ## 3.5 **Interest receivable** 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. ## 3.6 **Fund accounting** Unrestricted funds are available to spend on activities that further any of the purposes of charity. Designated funds are unrestricted funds of the charity which the trustees have decided at their discretion to set aside to use for a specific purpose. Restricted funds are donations which the donor has specified are to be solely used for particular areas of the charities' work or for specific projects being undertaken by the charity. ## 4 **Expenditure and liabilities** ## 4.1 **Liability recognition** Liabilities are recognised when it is more likely than not that there is a legal or constructive obligation committing the charity to pay out resources and the amount of the obligation can be measured with reasonable certainty. ## 4.2 **Charitable activities** Expenditure on charitable activities includes the costs of music activities and other activities undertaken to further the purposes of the charity and their associated support costs. ## 4.3 **Governance and support costs** Support costs have been allocated between governance cost and other support. Governance costs comprise all costs involving public accountability of the charity and its compliance with regulation and good practice. Support costs are those functions that assist the work of the charity but do not directly undertake charitable activities. Support costs include central functions and have been allocated to activity cost categories on a basis consistent with the use of resources. ## 4.4 **Irrecoverable VAT** Irrecoverable VAT is charged as a cost against the activity for which the expenditure was incurred. ## 4.5 **Creditors** The charity has creditors which are measured at settlement amounts less any trade discounts. ## 4.6 **Provisions for liabilities** A liability is measured on recognition at its historical cost and then subsequently measured at the best estimate of the amount required to settle the obligation at the reporting date. 18 ## **THE SOUNDROOM COMMUNITY MUSIC PROJECT** ## **NOTES TO THE FINANCIAL STATEMENTS** For the year ended 31 March 2024 ## 5 **Assets** ## 5.1 **Tangible fixed assets for use by the charity** Individual fixed assets costing £1,000 or more are capitalised at cost and are depreciated over their estimated useful economic lives on a straight line basis as follows: Leasehold property improvements Straight line over life of lease Office and computer equipment Straight line over four years The charity does not currently own any tangible fixed assets. 19 ## **The Soundroom Community Music Project** ## **NOTES TO THE FINANCIAL STATEMENTS** For the year ended 31 March 2024 |**Analysis of income**
6
**Donations and legacies**
7
**Charitable activities**
Income from grants
Community Foundation
Other income
8
**Other trading activities**
Refreshments
Fundraising
Other trading activities
Persimmon Homes
GMBC Warm Spaces
British Science Association
Arnold Clark Community Fund
Lady Skinners NAV Grant
The Catherine Cookson Charitable Trust
Other small grants
Donations and gifts
Post Code Lottery - Local Giving
Summer 2023
Leeds Building Society Foundation
Card Factory Foundation
The National Lottery Community Fund
Connected Voice Cost of Living Grant
The Rank Foundation
The Community Infrastructure Levy
Music & Street Dance
GMBC Holiday Activities & Food Programme
The Percy Bilton Charity
Room hire
Other income
Recordings and rehearsals|Unrestricted
Funds
£
5,093
5,093
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
533
533
27,425
2,229
1,628
50
1,003
32,335|Restricted
Funds
£
-
-
-
500
-
1,637
5,040
6,127
-
1,728
1,000
500
-
1,000
500
960
-
750
-
-
19,742
-
-
-
-
-
-|**Total**
**2024**
**£**
**5,093**
**5,093**
**-**
**500**
**-**
**1,637**
**5,040**
**6,127**
**-**
**1,728**
**1,000**
**500**
**-**
**1,000**
**500**
**960**
**-**
**750**
**-**
**-**
**533**
**20,275**
**27,425**
**2,229**
**1,628**
**50**
**1,003**
**32,335**|Total
2023
£
5,405
5,405
750
-
1,159
3,025
-
-
2,955
-
-
-
1,000
-
500
-
9,900
-
850
600
1,132
21,871
20,517
1,822
595
181
480
23,595| |---|---|---|---|---| Income was £57,703 (2023: £50,871) of which £37,961 was unrestricted or designated (2023: £31,332) and £19,742 was restricted (2023: £19,539). 20 ## **The Soundroom Community Music Project** ## **NOTES TO THE FINANCIAL STATEMENTS** For the year ended 31 March 2024 ## **Analysis of expenditure on charitable activities** |9
10|**_Raising funds_**
**_Charitable activities_**
Direct costs
Support costs
Governance costs
Equipment
Sundry expenses
Professional fees
Rent and utilities
Cleaning
Security
Maintenance and repairs
Telephone and IT
Insurance
Independent examiner's fees for reporting on
the accounts
Bank charges
Licences
Prior period error
Cost of generating income
Management staff costs
Project staff salaries
Training
Project activities
Volunteer expenses|Unrestricted
Funds
£
681
681
545
21,648
-
663
50
6,664
805
-
1,263
1,108
-
1,528
259
366
-
390
-
600
35,889|Restricted
Funds
£
23
23
7,645
3,266
-
2,200
173
792
16
-
214
27
-
-
-
151
-
-
-
-
14,484|**Total**
**2024**
**£**
**704**
**704**
**8,190**
**24,914**
**-**
**2,863**
**223**
**7,456**
**821**
**-**
**1,477**
**1,135**
**-**
**1,528**
**259**
**517**
**-**
**390**
**-**
**600**
**50,373**|Total
2023
£
1,294
1,294
6,215
23,667
113
4,332
410
5,782
801
31
3,473
506
507
966
138
94
636
327
5,315
500
53,813| |---|---|---|---|---|---| Expenditure on charitable activities was £51,077 (2023: £55,107) of which £36,570 was unrestricted or designated (2023: £34,961) and £14,507 was restricted (2023: £20,146). ## 11 **Fees for examination of the accounts** |Independent examiner's fees for reporting on the accounts
There were no other fees paid to the examiner (2023: £nil)|**2024**
**£**
**600**
**600**|2023
£
500
500| |---|---|---| 21 ## **The Soundroom Community Music Project** ## **NOTES TO THE FINANCIAL STATEMENTS** For the year ended 31 March 2024 ## 12 **Analysis of staff costs, and the cost of key management personnel** |Pension costs (defined contribution pension plan)
Sessional staff
Salaries and wages
Social security costs|**2024**
**£**
**23,970**
**710**
**234**
**8,190**
**33,104**|2023
£
22,723
710
234
6,215
29,882| |---|---|---| No employee received remuneration above £60,000 (2023: nil). The key management personnel of the charity, comprise the trustees and the charity manager. The total employee benefits of the key management personnel of the charity were £0 (2023: £0). ## 13 **Staff Numbers** The average monthly head count was 2 staff (2023: 2 staff) and the average monthly number of full-time equivalent employees during the year were as follows: |Charitable activities
The parts of the charity in which the employee's work:|**2024**
**Number**
**1.1**
**1.1**|2023
Number
1.1
1.1| |---|---|---| ## 14 **Transactions with trustees** None of the trustees have been paid any remuneration or received any other benefits from an employment with their charity or a related entity. ## **Trustees' expenses** No trustee expenses have been incurred in the year. ## **Transaction(s) with related parties** There has been no related party transactions in the reporting period. ## 15 **Defined contribution pension scheme** The charity operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the charity in an independently administered fund. The employer's pension costs represent contributions payable by the charity to the fund and amount to £234 (2023: £234). There was £0 outstanding as at 31 March 2024 (2023: £54). ## 16 **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 objectives. 22 **The Soundroom Community Music Project** ## **NOTES TO THE FINANCIAL STATEMENTS** For the year ended 31 March 2024 ## 17 **Debtors and prepayments (receivable within 1 year)** |18
Short term deposits
Cash at bank and in hand
Salary holding account
**Cash at bank and in hand**
Trade debtors|**2024**
**£**
**-**
**408**
**408**
**2024**
**£**
**4,645**
**27,832**
**32,477**|2023
£
26
85
111
2023
£
4,724
21,930
26,654| |---|---|---| |19
Other creditors
**Creditors and accruals (payable within 1 year)**
Accruals
Taxation and social security
Other accruals
Independent examination of accounts
Trade creditors|**2024**
**£**
**-**
**200**
**655**
**600**
**-**
**1,455**|2023
£
552
-
161
500
748
1,961| |---|---|---| ## 20 **Events after the end of the reporting period** No events (not requiring adjustment to the accounts) have occurred after the end of the reporting period but before the accounts are authorised which relate to conditions that arose after the end of the reporting period. ## 21 **Analysis of charitable funds** ## **Analysis of movements in unrestricted funds** |**Unrestricted funds**
General unrestricted fund
**_Totals_**|**Fund**
**balances**
**brought**
**forward**
£
18,252
18,252|**Incoming**
**resources**
£
37,961
37,961|**Resources**
**expended**
£
( 36,570 )
( 36,570 )|**Transfers**
£
-
-|**Fund**
**balances**
**carried**
**forward**
**£**
**19,643**
**19,643**| |---|---|---|---|---|---| ## **Purpose of unrestricted funds** General unrestricted fund The 'free reserves' of the charity. 23 ## **The Soundroom Community Music Project** ## **NOTES TO THE FINANCIAL STATEMENTS** For the year ended 31 March 2024 ## 21 **Analysis of charitable funds** continued ## **Analysis of movement in restricted funds** |**Restricted funds**
British Science Association
Community Foundation
Music & Street Dance
Health & safety
Summer 2023
GMBC Holiday Activities & Food
Programme
GMBC Warm Spaces
Lady Skinners NAV Grant
Persimmon Homes
Post Code Lottery - Local Giving
The Catherine Cookson
Charitable Trust
The National Lottery Community
Fund
The Percy Bilton Charity
**_Totals_**|**Fund**
**balances**
**brought**
**forward**
£
-
-
-
-
-
-
-
-
-
-
6,552
-
6,552|**Incoming**
**resources**
£
500
5,040
6,127
1,637
1,728
1,000
500
1,000
500
960
-
750
19,742|**Resources**
**expended**
£
( 500 )
( 2,440 )
-
( 1,637 )
( 339 )
( 1,000 )
( 500 )
-
( 500 )
( 289 )
( 6,552 )
( 750 )
( 14,507 )|**Transfers**
£
-
-
-
-
-
-
-
-
-
-
-
-
-|**Fund**
**balances**
**carried**
**forward**
**£**
**-**
**2,600**
**6,127**
**-**
**1,389**
**-**
**-**
**1,000**
**-**
**671**
**-**
**-**
**11,787**| |---|---|---|---|---|---| ## **Purpose of restricted funds** Restricted funds represent income resources used for a specific purpose within the charity as identified by the donor. British Science Association Community Foundation - Music & Street Dance The Community Infrastructure Levy Summer 2023 GMBC Holiday Activities & Food Programme GMBC Warm Spaces Lady Skinners NAV Grant Persimmon Homes Grant exploring the science of recording engineering. Specialised afterschool music and street dance provision. New Fire Alarm installation full replacement of the buildings fire alarm equipment and control panel. To fund summer holiday activities of music, dance, and drama for children aged 7-17. School holiday funding Holiday Activities and Food provision project to support your Brighten the Day programme based in Gateshead. Provision of open access Warm Welcome Space for the community to utilise during the winter months and contribution to core costs. Equipment for young people�s afterschool music and street dance group. Contribution to project running costs. 24 ## **The Soundroom Community Music Project** ## **NOTES TO THE FINANCIAL STATEMENTS** For the year ended 31 March 2024 ## 21 **Analysis of charitable funds** continued ## **Purpose of restricted funds** continued Post Code Lottery - Local Giving To fund interactive live music sessions for adults with learning disabilities. The Catherine Cookson Afterschool club for children support to purchase equipment ,and Charitable Trust instruments and building materials to help store our music library items and transport equipment to community events . To fund community music making activities in Gateshead. The National Lottery Community To fund community music making activities in Gateshead. Fund The Percy Bilton Charity Percussion equipment grant for twice weekly music cafes for adults with learning disability. ## 22 **Capital commitments** As at 31 March 2024, the charity had no capital commitments (2023 -£nil). ## 23 **Analysis of net assets between funds 2024** |Cash at bank and in hand
Other net current assets/(liabilities)|Unrestricted
Funds
£
20,690
( 1,047 )
19,643|Restricted
Funds
£
11,787
-
11,787|**Total**
**2024**
**£**
**32,477**
**( 1,047 )**
**31,430**| |---|---|---|---| ## **Analysis of net assets between funds 2023** |Other net current assets/(liabilities)
Cash at bank and in hand|Unrestricted
Funds
£
20,102
( 1,850 )
18,252|Restricted
Funds
£
6,552
-
6,552|**Total**
**2023**
**£**
**26,654**
**( 1,850 )**
**24,804**| |---|---|---|---| ## 24 **Guarantee** There have been no guarantees given by the charity at 31 March 2024. ## 25 **Debt** There is no debt outstanding which is owed by the charity and which is secured by an excess charge on any of the assets of the charity at 31 March 2024. ## 26 **Governing document** The organisation is a Charitable Incorporated Organisation - Foundation registered on 17 June 2014 as a body corporate under part 11 of the Charities Act 2011. 25