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2021-03-31-accounts

YOUNG WOMEN’S MUSIC PROJECT

YOUNG WOMEN’S MUSIC PROJECT

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

Charity Number: 1161028 (England and Wales)

YOUNG WOMEN’S MUSIC PROJECT

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2021

CONTENTS PAGE
General information 2
Trustees’ Annual Report 3-4
Responsibilities of the Trustees 5
Statement of Financial Activities 6
Balance Sheet 7
Notes to the financial statements 8-9
Independent Examiner’s report to the members 10

1

YOUNG WOMEN’S MUSIC PROJECT

GENERAL INFORMATION

Registered charity name Young Women’s Music Project Charity number 1161028 (England and Wales) Principal & registered office address Makespace Aristotle Lane Jericho Oxford OX2 6TP Trustees Ms Eden Bailey Liz Green Tracy Walsh Jessica Mchugh Christina Kowalchuk Russell Barker Dr Fenella Porter Catherine Lieben Aidan Canaday Shawanda Corbett (resigned 30 March 2021) Helen Messenger Dot Pritchard Justine Malone Dr Jennifer Chesters Accountants SPX Oxford Ltd Peace House Paradise Street Oxford OX1 1LD

2

YOUNG WOMEN’S MUSIC PROJECT

TRUSTEES’ ANNUAL REPORT

FOR THE YEAR ENDED 31 MARCH 2021

The trustees present their report and the unaudited financial statements of the Charity for the year ended 31 March 2021.

REFERENCE AND ADMINISTRATIVE DETAILS

Reference and administrative details are shown in the schedule of general information on page 2 of the financial statements.

THE TRUSTEES

The trustees who served the charity during the year are shown on page 2.

STRUCTURE, GOVERNANCE AND MANAGEMENT

The charity has been managed and operated in accordance with the Constitution for the Young Women’s Music Project as a Charitable Incorporated Organisation, dated 23[rd] March 2016.

FINANCIAL REVIEW

The Young Women’s Music Project have achieved financial benefits this year from commissions and grants, including those from TORCH, Youth Music and The Logan Foundation. The charity has been unable to host its usual fundraising events and performances at festivals due to the COVID-19 pandemic, so has sought to raise funds in other ways including bedroom concerts and an online performance for International Women’s Day. Merchandise created by the young women during the year was sold to raise funds. This included a musical compilation and zine, a calendar and t-shirt.

The Trustees recognise that the COVID 19 pandemic has had a significant impact on the finances of the Charity in the short term. In past years the summer months have yielded a significant proportion of unrestricted fund income for the year due to festival appearances. In common with many charities, events did not happen in the summer of 2020, leaving a significant reduction in funds available. The Trustees have responded by immediately initiating measures to cut costs and seek alternative avenues of fundraising, and have made appropriate changes to ensure the long-term sustainability of the charity. As a result, they are confident that there are no material uncertainties as to the charity’s ability to continue as a going concern.

PUBLIC BENEFIT STATEMENT

In exercising their powers or duties, Charity trusties have complied with their duty to have due regard to the guidance on public benefit published by the Charities Commission for England and Wales.

OBJECTIVES AND ACTIVITIES

Young Women’s Music Project aims to empower young women through music by providing them with a supportive framework to explore all aspects of musical creativity in a safe environment. Whilst gaining practical skills the project also creates a social space for the girls where they can express themselves and learn the values of collaborative work. The girls also get the opportunity to participate in and initiate a variety of community work. These projects aim to build bridges through working with all areas of the public, reflecting the vast diversity of Oxford itself.

3

YOUNG WOMEN’S MUSIC PROJECT

ACHIEVEMENTS AND PERFORMANCE

Despite the ongoing global pandemic, the Young Women’s Music Project team has worked incredibly hard to not only keep the project going through unprecedented times, but to provide vital links and services to our participants, as well as respond quickly to a new way of delivering music.

In fact, switching to online delivery of training sessions, talks and 'bedroom concerts' has enabled us to reach a wider group of participants who may have not been able access face-to-face sessions, and to maintain contact in a safe environment.

YWMP has provided a course during the year in which participants wrote, produced, recorded and performed songs, in association with Ableton and Focus Right.

Online sessions were given during the year to introduce participants to spotlighted Women in Music. An online performance called Celestial Bodies was performed for International Women’s Day. Various artists performed bedroom concerts, broadcast online for the benefit of the charity.

The charity has been commissioned to provide training workshops in whiteness, privilege, inclusion and diversity, as well as providing consultation services to organisations such as Fusion Arts.

YWMP has been an integral part of an Oxford network providing support to people across the city during the pandemic, making sure that our participants were safe and had access to vital supplies such as food and nappies, as well as nice treats like a bunch of flowers. This has now been developed further into our recently launched Wings Project (see Future Developments)'.

FUTURE DEVELOPMENTS

Since COVID-19 restrictions have been somewhat lifted, the charity has resumed putting on shows, with Stealing Sheep performing in Oxford in a fundraising concert.

As part of the period poverty campaign, the charity has set up Wings, which delivers sanitary products to households in need across Oxford.

The home recording and producing course has continued.

The charity has received the donation of a risograph printer, which it has used to produce a calendar for 2022 which will be sold to raise funds.

4

YOUNG WOMEN’S MUSIC PROJECT

RESPONSIBILITIES OF THE TRUSTEES

The trustees are responsible for preparing the Trustees’ Annual Report and the financial statements in accordance with applicable law and regulations.

Charity Law requires the trustees to prepare financial statements for each financial year. Under that law the trustees have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charitable company and the income and expenditure of the charitable company for that year.

In preparing these financial statements, the trustees are required to:

The trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charity’s transactions and disclose with reasonable accuracy at any time the financial position of the charitable company and which enable them to ensure that the financial statements comply with the Charities Act 2011. They are 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.

Signed on behalf of the trustees

……………………………………..

Date ……18 December 2021…………

5

YOUNG WOMEN’S MUSIC PROJECT

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2021

Note
Income from:
Donations and legacies
3
Charitable activities
4
Other trading activities
5
Total income
Expenditure on:
Raising funds
6
Charitable activities
7
Total expenditure
Net income / -expenditure
Transfers between funds
Net movement in funds
Reconciliation of funds:
Total funds brought forwards
Total funds carried forward		 Unrestricted
Funds
£
12,636
55,303
-
67,939
888
54,065
54,953
12,986
-
12,986
16,602
29,588		 Restricted
Funds
£
-
37,894
-
37,894
-
22,960
22,960
14,934
-
14,934
-
14,934		 Total
Funds
2021
£
12,636
93,197
-
105,833
888
77,025
77,913
27,920
-
27,920
16,602
44,522		 Unrestricted
Funds
£
4,035
14,985
1,713
20,733
1,456
26,664
28,120
- 7,387
-761
-8,148
24,750
16,602		 Restricted
Funds
£
-
10,000
-
10,000
-
46,894
46,894
- 36,894
761
-36,133
36,133
-		 Total
Funds
2020
£
4,035
24,985
1,713
30,733
1,456
73,558
75,014
- 44,281
-
-44,281
60,883
16,602

The Statement of Financial Activities includes all gains and losses in the year and therefore a statement of total recognised gains and losses has not been prepared. All of the above amounts relate to continuing activities. The notes on pages 8 to 9 form part of these financial statements.

6

YOUNG WOMEN’S MUSIC PROJECT

BALANCE SHEET AS AT 31 MARCH 2021

Note
Current assets
Cash at bank and in hand
Creditors: Amounts falling due within one
year
9
Net current assets
Net assets
The funds of the charity
Funds
Unrestricted income funds
Restricted income funds
Total funds
10		 2021
£
£
45,831
45,831
1,309
44,522
44,522
29,588
14,934
44,522		 2020
£
£
18,280
18,280
1,678
16,602
16,602
16,602
-
16,602		 2020
£
£
18,280
18,280
1,678
16,602
16,602
16,602
-
16,602
16,602
16,602
-
16,602

For the year ended 31 March 2021 the charity was entitled to exemption from audit under section 145 of the Charities Act 2011.

Trustees responsibilities:

These financial statements were approved by the members of the committee and authorised for issue on …18 December 2021………… and are signed on their behalf by:

……………………………….. Trustee

YOUNG WOMEN’S MUSIC PROJECT

NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2021

1. COMPANY STATUS

Young Women’s Music Project is a Charitable Incorporated Organisation.

2. ACCOUNTING POLICIES

Basis of accounting

The charity constitutes a public benefit entity as defined by FRS102. The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) issued on 16 July 2014, as updated by Update Bulletin 1 issued on 2 February 2016, with the Charities Act 2011.

The financial statements have been prepared under the historical cost convention 2019 (SORP 2019), ‘Accounting and Reporting by Charities’, issued by the Charities Commission.

Accounting period

These accounts cover the year from 1[st] April 2020 to 31[st] March 2021

Fund accounting

Unrestricted funds are available for use at the discretion of the trustees in furtherance of the general objectives of the charity.

Income

All income is included in the statement of financial activities when the charity is legally entitled to the income and the amount can be quantified with reasonable accuracy.

Voluntary income is received by way of grants, donations and gifts and is included in full in the Statement of Financial Activities when receivable. Grants, where entitlement is not conditional on the delivery of a specific performance by the charity, are recognised when the charity becomes unconditionally entitled to the grant.

Fixed assets

Fixed assets (excluding investments) are stated at cost less accumulated depreciation. The costs of minor additions or those costing below £1,000 are not capitalised.

Expenditure

Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category. Expenditure represents amounts invoiced, including value added tax.

Taxation

The Charity is exempt from corporation tax on its charitable activities.

8

YOUNG WOMEN’S MUSIC PROJECT

NOTES TO THE ACCOUNTS (Continued) FOR THE YEAR ENDED 31 MARCH 2021

3. INCOME FROM DONATIONS AND LEGACIES

Unrestricted
Funds
£
Donations
12,636
12,636
. INCOME FROM CHARITABLE ACTIVITIES
Unrestricted
Funds
£
Events Income
1,434
Consultancy
3,000
Commissions
4,400
Furlough grants
16,622
Grants
29,847
Total charitable activites
55,303
. INCOME FROM OTHER TRADING ACTIVITIES
Unrestricted
Funds
£
Merchandise Sales
-
Total charitable activities
-		 Restricted
Funds
£
-
-
Restricted
Funds
£
-
-
-
-
37,894
37,894
Restricted
Funds
£
-
-		 Total
Funds
2021
£
12,636
12,636
Total
Funds
2021
£
1,434
3,000
4,400
16,622
67,741
93,197
Total
Funds
2021
£
-
-		 Total
Funds
2020
£
4,035
4,035
Total
Funds
2020
£
14,985
-
-
-
10,000
24,985
Total
Funds
2020
£
1,713
1,713

4. INCOME FROM CHARITABLE ACTIVITIES

5. INCOME FROM OTHER TRADING ACTIVITIES

9

YOUNG WOMEN’S MUSIC PROJECT

NOTES TO THE ACCOUNTS (Continued) FOR THE YEAR ENDED 31 MARCH 2021

6. EXPENDITURE ON RAISING FUNDS

Unrestricted
Funds
£
Merchandise costs
888
Advertising and promotion
-
Total expenditure on raising funds
888
7. EXPENDITURE ON CHARITABLE ACTIVITIES
Unrestricted
Funds
£
Salaries
41,231
Pension costs
726
Employer's NI
-
Insurance
352
Printing, postage & stationery
9
Travel and subsistence
484
Volunteer expenses
90
Professional services
3,698
Premises costs
4,430
Event costs
852
Training
50
Other expenditure
1,893
Governance costs
250
Total expenditure on charitable activities
54,065
8. GOVERNANCE COSTS
Unrestricted
Funds
£
Accountancy
250
Total governance costs
250		 Restricted
Funds
£
-
-
-
Restricted
Funds
£
22,070
890
-
-
-
-
-
-
-
-
-
-
-
22,960
Restricted
Funds
£
-
-		 Total
Funds
2021
£
888
-
888
Total
Funds
2021
£
63,301
1,616
-
352
9
484
90
3,698
4,430
852
50
1,893
250
77,025
Total
Funds
2021
£
250
250		 Total
Funds
2020
£
1,381
75
1,456
Total
Funds
2020
£
57,755
1,336
470
350
30
2,207
-
1,920
4,577
3,128
-
1,535
250
73,558
Total
Funds
2020
£
870
870

10

YOUNG WOMEN’S MUSIC PROJECT

NOTES TO THE ACCOUNTS (Continued) FOR THE YEAR ENDED 31 MARCH 2021

9. STAFF COSTS AND NUMBERS AND KEY MANAGEMENT PERSONNEL

Wages and salaries
Employer's NI
Employer's pension costs
Average number of employees		 2021
£
63,301
-
1,616
64,917
4		 2020
£
57,755
470
1,335
59,560
4

10. CREDITORS

0. CREDITORS
Other creditors
Social security and other taxes
Accruals		 2021
£
359
590
360
1,309		 2020
£
120
1,198
360
1,678

11. UNRESTRICTED AND RESTRICTED INCOME FUNDS

General Funds
Unrestricted income funds
Restricted Funds
Logan Foundation
Total restricted funds
Total funds		 At 1 April
2020
£
16,602
-
-
16,602		 Income

£
67,939
37,894
37,894
105,833		 Expenditure
£
54,953
22,960
22,960
77,913		 Transfers
£
-
-
-
-		 At 31
March
2021
£
29,588
14,934
14,934
44,522

12. TRUSTEE REMUNERATION & RELATED PARTY TRANSACTIONS

No member of the board of trustees received any remuneration during the year.

No trustees were reimbursed for their expenses during the year

There were no related party transactions.

11

YOUNG WOMEN’S MUSIC PROJECT

INDEPENDENT EXAMINER’S REPORT TO THE MEMBERS OF YOUNG WOMEN’S MUSIC PROJECT

FOR THE YEAR ENDED 31 MARCH 2021

I report on the accounts of the Charity for the year ended 31 March 2021, which are set out in pages 7-10

RESPECTIVE RESPONSIBILITIES OF TRUSTEES AND EXAMINER

As the charity's trustees, you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (“the Act”).

I report in respect of my examination of the Charity’s accounts carried out under section 145 of the 2011 Act and in carrying out my examination, I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.

BASIS OF INDEPENDENT EXAMINER’S REPORT

My examination was carried out in accordance with the General Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the company and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts and the seeking of explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and consequently no opinion is expressed 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

I have completed my examination. I confirm that no material matters have come to my attention which gives I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination which gives me cause to believe that in, any material respect:

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.

……………………………………………… Sheila Parry FCCA SPX Oxford Ltd 19 Paradise Street Oxford OX1 1LD

Date ………21 December 2021………………………………

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