2023-03-31-accounts - Nonclassical

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CONTENTS	Page
Trustees' report	3-11
Independent Examiner's report	12
Statement of financial activities	13
Statement of financial position	14
Notes to the accounts	15-24

For the year ended 31 March	2023 Notes	Unrestricted	Restricted	2023	2022
Income and endowments from:
Donations and legacies	2	81,335	57,591	138,926	155,781
Charitable activities	3	34,635		34,635	28,692
Total		115,970	57,591	173,561	184,473
Expenditure on:
Raising Funds	4	5,591		5,591	5,418
Charitable activities	5,6	140,249	40,127	180,377	160,381
Total		145,840	40,127	185,968	165,799
Net income/expenditure		(29,870)	17,464	(12,407)	18,674
Reconciliation of funds
Total funds brought forward		75,356	1,236	76,592	57,918
Total funds carried forward		45,486	18,700	64,185	76,592

STATEMENT OF FINANCIAL POSITION
For the year ended 31 March 2023	Notes	2023	2022
Fixed Assets
Tangible Assets	12	2,111	4,223
		2,111	4,223
Current Assets
Stocks 13		3,754	5,808
Debtors 14		53,877	24,614
Cash at bank and in hand		21,231	65,509
		78,862	95,931
Creditors: amounts falling due within one
year 15		16,789 23,562
Net Current Assets		62,073 72,369
total assets less current liabilities		64,184 76,592
The funds of the charity
Restricted income funds	16	18,700	1,236
Unrestricted income funds	16	45,485 75,356
Total funds		64,185 76,592

	Unrestricted	Restricted	2023	2022
	Funds	Funds
Donations received	81,335		81,335	75,925
Grants received		57,591	57,591	79,856
	81,335	57,591	138,926 155,781
Analysis of Grants Received
Arts Council England				51,420
DiVA Apprenticeships Ltd			4,341	9,436
The hlinrichsen Foundation				500
The London Community Foundation			15,000
Margaret Engering Music Trust			20,000	7,500
PRS Foundation			17,250	11,000
The Samuel Gardner Memorial Trust			1,000
			57,591 79,856

	2023	2022
Unrestricted Funds
Raising Funds	5,591	5,418

	Unrestricted	Restricted	2023	2022
	Funds	Funds
Events	40,157	14,771	54,928	62,025
Record Label	33,474	7,726	41,200	52,413
Associate Composer Scheme	49,075	17,629	66,704	24,288
Support Costs	17,544		17,544	21,654
	140,250	40,126	180,376	160,380

	Events	Label Assoc comp	Label Assoc comp	2023	2022
			scheme
Premises	3,061	2,647	2,564	8,272	7,877
Insurance	150	130	126	405	560
Telephone and internet	113	98	95	305	623
Printing, postage, stationery	50	43	42	134	106
Advertising and Promotion	784	678	657	2,120	1,808
Travel	472	409	396	1,277	1,541
Professional development	401	347	336	1,084	1,062
Conferences and subscriptions	286	247	239	772	400
General office expenses	1,068	924	895	2,887	932
Office equipment					1,637
Governance costs	106	92	89	288	2,998
	6,491	5,614	5,439	17,544	19,543
8. Net income/(expenditure) for the year
				2023	2022
This is stated after charging/(crediting)
Depreciation of owned fixed assets				2,111	2,111
Accountancy Fees				717	1,200
Staff pension contributions				2,002	1,731
9. Staff costs
				2023	2022
Total staff costs for the year ended 31
March 2023 were:
Salaries and wages				96,521	82,954
Social security costs				3,452	1,985
Pension costs				2,002	1,731

		Computer
Cost or valuation		Equipment
Cost or valuation b/f		6,334
Additions
At 31 March 2023		6,334
Depreciation
Depreciation b/f		2,111
Charge for year		2,111
At 31 March 2023		4,223
Net Book Value
At 31 March 2022		4,223
Net Book Value
At 31 March 2023		2,111
13. Stocks and work in progress
	2023	2022
Stocks of vinyl records, CDs and cassette
tapes	3,754	5,808
14. Debtors
	2023	2022
Trade Debtors	44,874	18,101
Prepayments and accrued income	9,003	6,085
Other debtors		428
	53,877	24,614
15. Creditors
	2023	2022
Trade creditors	1,272	2,202
Other creditors	2,518	6,214
Accruals and deferred income	12,999	15,146
	16,789	23,562

Unrestricted Funds
	Balance at Incoming Outgoing			Transfers Balance at
	1.4.22 Resources Resources 31.3.23
Designated
PRS Foundation Open Fund	5,000		(5,000)
ACS2 donations	4,092		(4,092)
Tower Hamlets	8,666			(8,666)
Equipment
Associate Composers Scheme	20,800		(20,800)
	38,558		(29,892)	(8,666)
General	36,799 115,969		(115,949)		36,820
Designated funds released				8,666	8,666
	75,357	115,969	(145,840)		45,486
Unrestricted Funds - Previous Year
	Balance at Incoming Outgoing Balance at
	1.4.21 Resources		Resources Transfers 31.3.22
Designated
PRS Open Fund		5,000			5,000
ACS2 donations	4,092				4,092
Tower Hamlets		8,666			8,666
Equipment
ACS	20,000	800			20,800
	24,092 14,466				38,558
General	29,929 123,117 (101,782)			(14,465)	36,799

Restricted Funds
	Balance	at Incoming Outgoing Balance at
	1.4.22 Resources		Resources Transfers 31.3.23
DiVA Apprenticeships Ltd	596	4,341	(4,937)
ACS2	640		(640)
Margaret Engering Music Trust		20,000	(18,300)	1,700
The Samuel Gardner Memorial Trust		1,000	(1,000)
PRS For Music Foundation		17,250	(15,250)	2,000
Cockayne Foundation / The London
Community Foundation		15,000		15,000
	1,236	57,591	(40,127)	18,700
Restricted Funds - Previous Year
	Balance at Incoming		Outgoing Balance at
	1.4.21 Resources		Resources Transfers 31.3.22
DiVA Apprenticeships Ltd		9,436	(8,840)	596
Arts Council England		51,420	(51,420)
ACS 1	2,257	500	(2,757)
ACS2	640			640
Fieldwave Vol 2	1,000		(1,000)
	3,897	61,356	(64,017)	1,236

	Tangible	Net current
	fixed	assets/	Net
	Assets	liabilities Assets
Unrestricted Funds
General	2,111	43,374	45,485
Designated
Restricted Funds
Margaret Engering Music Trust		1,700	1,700
The Samuel Gardner Memorial Trust		2,000	2,000
The London Community Foundation		15,000	15,000
	62,074	62,074	64,185