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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|
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|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|
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|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||
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||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||
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|3. Income from Charitable|||
|---|---|---|
|Activities|2023|2022|
|Events|25,278|13,909|
|Record Label|9,234|14,783|
|Interest received|122||
||34,634|28,692|
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||2023|2022|
|---|---|---|
|Unrestricted Funds|||
|Raising Funds|5,591|5,418|
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||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|
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||Activities||||
|---|---|---|---|---|
||Undertaken|Support|2023|2022|
||Directly|Costs|||
|Events|54,928|6,491|61,419|71,707|
|Record Label|41,200|5,614|46,814|60,594|
|Associate Composers Scheme|66,704|5,439|72,143|28,079|
||162,832|17,544|180,376|160,380|
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||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|
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||Unrestricted Restricted|2022|
|---|---|---|
||Funds Funds||
|Income and endowments from:|||
|Donations and legacies|94,425 61,356|155,781|
|Charitable activities|28,692 28,692||
|Total|123,117 61,356|184,473|
|Expenditure on:|||
|Raising Funds|5,418|5,418|
|Charitable activities|96,364
64,017|160,381|
|Total|101,782
64,017|165,799|
|Net income/expenditure|21,335 (2,661)|18,674|
|Reconciliation of funds|||
|Total funds brought forward|54,021
3,897|57,918|
|Total funds carried forward|75,356
1,236|76,592|
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|||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|
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|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|
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|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|
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||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|
##
|Previous year|||
|---|---|---|
||Tangible Net current||
||fixed|assets/ Net|
||Assets liabilities Assets||
|Unrestricted Funds|||
|General|4,223 32,576 36,799||
|Designated||38,557 38,557|
|Restricted Funds|||
|DiVA Apprenticeships Ltd||596 596|
|Assoc Composer Scheme 2||640 640|
||72,369|72,369 76,592|