Charlty reg15tratlon number: 116n25 Manchester Collective Annu•l Report •nd Fln•n¢l•l Ststsments for the Yeir Ended 31 March 2025 The Moffatts Partnershlp LLP Sulte 1.1, Flrst Floor, Jackson House Slbson Road Sale M33 7RR
Manthester Collective Rtsence and NAminlstralfve DetsKs Tru5tees' Report 2tolO strtemerrt of Truste Responslbllltles li Indep&thnt Examtnerfs Report Statefflt of Flnandal ky1t 13 Balance Sheet 14 Cash Aow Staterne Notes to the finandal Statements 16to32
Manchester Colledlve Reference and Adrnlnistratlve Detalls Chalr D McKelth Chlef Ex¢¢utlve Olfker L Be8ble Trnstees H Gllman, I518ned 18th Marth 20241 N TryBstod H Wallace J Holden R Sheldon S M Nolan, lappolnted 18th March 20241 N 8ush, {appolntsd 9th December 20241 K A Salnt, lappolnted 9th December 2024) A A Henn1& lappolnted 9th December 20241 R Sln8h, C(rtIstIc Olrector J K Rodgman. CtrArtlstk Dlrector 1167125 Other Offlcers Chaylty Re$tratIon Number Prfndpal Olftce The Sharp Projert Thorp Road Manchester M40 58J lftdependent Exam11 The Moffatts Partnershlp LLP Sulte 1.1. Flrst Floor, Jackson House Slbson Road Sale M33 7RR The Moffatts Partnershlp LLP Sulte 1.1. Flrst Floor. Ja¢k50n House Slbson Road Sale M33 7RR Pa8e I
Manchester Collectlve Trustees. Report The trustees are pleased to present their anNal report for the sefftth year of the operatlon5 of the CIO {Manchester Colle¢tl¥e). This report concerns the flnandal year erKled 31 March 2025. The flnandal ststements comply wlth the Charltles kt 201L the Corstlttthn of the ao (Manchester Collectlve), and AccountFn8 and Reportlng by Charltle5: 5trtefft of Recommended Practk¢ applkable to charftles preparln8 the]r accounts In accordan Tth Nnandal Reportln8 Stsndard appllcable In the UK and RepUk of Ireland (FRS 1021. Manchester Collective b a Charitsble IncOted Organlsatlon. arml Is 8ovwDed by Its Consththn, dated Awll 15. 2016. It15 re8istered as a charity with the Charlty Comm155lon. Appltratlons for membershlp must be approved by the trustees. As 31 March 2025, the are n1 trustees Mne of wM have any finarKlal Nablffty In the event of the charlty wlndln8 UP. Recrultment of trustees Is led by the G(Y4ernan and finance Subcommlttee, behalf of the Board and In accordance wth the Manchester Collecthe Trustee Recrnitment PofKy. The constliutlon states that the board should have at least three trustee5. wlth a maxlmum of tVe. The re(ruftmt process stsrts wlth the tthird 4reelng the need to appoln( and the IdentlAcaJon of any spedfic 5kllls that may be requlred from the rw trustee. The process ryll Include Intervlews wjth at least One board membw and the 0, recommendatkns sthltted to the board for approval. All new trustees must be fomwlly apwoved ty a majiyity of e$¢Ing trustees at a qu(Yate meellng ar#1 wlll ser¥ for an Inltlal term of three years. Trustees mwi be rppoInted to a seC(d temi the same board neting approydl proces allowlng them to Ser a maxlmum of 51x [$ on ts boar In 2024-25 trlalled the Inclusl¢M of tY> uth rreSents1J¥e% These are youn8 pe(yle aged 1&24- stsjdents stlll In fulktlme eduCaon at the Royal Northem Colle8e of MUSL In autumn 2024 Malsy Shaw Ipost8raduate flautlstl and Poppy WorthlngtoTrHarrts (undergraduate slngerl were ruIted through an open call wlthln the conservatolr< wlth selectlon InteTrfjews conducted by the Chief Execut. Cholr and one other Sern0 trustee. The purpose of having youth representstlves Is twofold: to galn an addftlonal perwcllve from the emerglng generatlon of profe551onal musklans; and to provlde governan Insltht for t Students hWn8 to fowge careers TArythln arts and culture 8w)eralty, or dasslcal-muslc wiftcally. Youth reprewtstis are trn the same onboardln8 dUrnents a5 5ervlTr8 trustees. They moy attend both full board meetin8S 5ubcommlttee meetln85, ènd the Board Aw•y Day. However. they do not h•¥e votlng rlghts. do not Count towards quorum. and may be asked to absent themselves from any sen51tl¥E dlscusslons for eMple around HR. salarfes and/ortt raisthg of serlous or 5af4uarding Issues. New trustees VAII r1ve an 0n*Oarth pack of InfwrrhiUon Indudlng the constltuuon, trustee tenns of reference document the latest annual report and ststement of accounts, c¢ple5 of mlnutes from recent board meetln8s, recent monthly board reports and other reknntlnformallo The Chalr and CEO wlll coThlutt Inductlon seSsIor to tske the new trustees throu8h the ojrrent stratsgic and ¢Jperatlng plans and anv4Rr any questlons. Additlonal meetln8s with other trustees and the Manchester Coliectlve team wlll take place as necessary, depen(lin8 on the spedfic ro of the new trustee. Trustees are aKoura8ed to attend external tralnln8 that may be avallable to f•¢ilitsts the undertaklng ofthelr new
Manchester Collertive Trustees, Report Arrnngementsfvrsettlnqkey manaoenwrtpemmelremunerqdon The pay of senlor stsff Is VIeWed annually •$ part of the budiet-settSn8 process and the overall Man¢hester Colle¢U¥e salary pollcy. Remunerjtlon for senlor stsff Is managed by the Governance & Fhance subcommlttee. In prlndple. pay wlll be In Ilne wlth Indlvldual role and benchmarked comparlsons. Roles In slmll•r artlstlc organlsatlons Includlng charltles wlll be used to pTovlde approprlate benchmark5. Salary pollcy and Increases wlll be a8reed by the board as part of the annu•l budget-settln8 Ixocess. The board of trustees Is responslble for overseeln8 the operatlon of Manchester Collectlve and ensurln8 that It Is beln8 fun attordln8 to the prlndples of the a8ed constltutlon. The Chlef Executlve has been •ppolnted by the trustees ta manage the day-to-day operatlons and has dele8ated authorlty to take declslons on opwatlonal matters Sndudlni finance, ernpioyment, sustslnablllty, artlstlc dlrectlon and pro8ramme. The board meets quarterly for • full bo•rd meetln& and there are three establbshed sub<ommlttees responslble for Governance & Flnance. Envlronmental Sustslnablllty, Artlstlc Plannln8 Incluslvlty & Relevance. Each sub<ommlttee Is subJe¢t to Temis of Reference approved by the Board and comprlses at least two twstees, wlth addltlonal support from other trustees and members of the Manchester Collectlve team 1$ needed. Eoth Su¢0mmIttee Is chalred by 4 trustee: toplcs dlscussed, and declslons made, are mlnuted. The mlnutes are shared wlth the whole board ahead of each qUOrterty meetlng and Inform the 4enda of those meetln8s. There Ss also a Player Commlttee wlth representatlon on the board. R•latlonshlps wlth rel•tsd partl ftel•t•d P•rtl•s & tsoperailon wlih Other Ory•nlsallons None of our trustees recelve remuneratlon or any other benefit from thelr work 0$ 4 trustee wlth Manchestsr Collect beyond the coverlng of essentlal expenses as defined In the Trustee Expenses Pollw. The artlst representstlves on our board a performlng mu51clans and, In thls capaclty, may recelve payment for any artlstle work that they dellver as p•rt of the Collecuve. Nelther the bo4rd northe Indlvldual trustees Ire Involved tn any artlstlc declslons •$ to pro8rammlng or yer selectlon. All trustee$ 8l¥e thelr tlme freely and no trustee recelved remuneratlon In the FY 24125 beyond the artlstlc payments to Sarn Margaret Nolan and Nlck Trygstsd, as dlsclosed In note 10 to the •ccounts. Page 3
Manchestsr Collertlve Trustees, Report M•lor rlsks and manooementolthose rlsks Rtsk Montygement Man¢heskr Collectlve h#5 •n octlve rlsk mJna8ement process to Cover the Identlflcatlon, management and mltlgatlon of key r15k5, A rlsk reglster Is malntslned by the Govemance & nance s¢0MmIttee. The re8lster Is ¢urrently revlewed every slx months. and actlons are agreed to mltl8ate Identlfied rlsks where posslble. An update Is provlded to the board on any m•Jor ¢han8es or new rtsks slnee the prevlous revlew. Durlni the Ilrst half of the 202+25 flnan¢lal ye•r one of the maln rlsks to the or8anlsatlon wa5 lack of permanent leadershlp: the foundlni dlrector. Adam Szal)o, and Chalr of Trustees. Helen Gllman, left post In Oecember 2023 and March 2024 respectlvely. Unda 8e8ble Ifomier Deputy CEO) was appolnted •5 Interlm CEO wlth effect from January 2024. In March 2024 Davld McKelth was appolnted as Chalr. followlng an open call and recrultment proce55 Idetalls of whlch are outllned In our publlshed 2023-24 Trustee's Report). We advertlsed for • new artlstlc leadershlp role and the BrItIsA$l•n composer-producer Jasmln Kent-Rodgman Jolned us as • Co-Artlstlc Dlrector In July 2024. Alon8slde Rakhl SID8h, Jmmln Is re5ponslble for shapln8 and stturlni Manchester Collect1,$ artlstl¢ wo8r•mme. In September 2024 Unda Beable was appolnted as pern)anent Chlef Exeeutlve, Jasmln knt-Rod8man was $u¢cessfvlly In pos( and Joanne Kartheva Ihrand and Communlcatlons Dlrector) returned from ¥ slx-month perlod of Pant31 leave. Addltlonally, we ran a successful recrultment c8mpal8n for three new trustees In autumn 2024. We appolnted three excellent ¢andld•tes who Joln a strong board w5th an Impressl¥e range of skllls, experlence and commltment to the or8anls•tlcn, led by a hl8hl*experlenced Chalr. M•Jor fvnders and stskeholders were kept well-lnfomied at Ill tlmes durln8 senlor leader5hlp tran51tlon. As wlth most Small arts or8onlsailons, financlal r15k remaln5 8nant The macroOn0M1c Context of the subsldlsed arts sector 8enerally. and classlcal muslc In parttculjr, remalns extremely challen8ln8 ye•r on year. There Is no doubt thot these pressures ha been exacerbated by the decllnlng (ln real tern)sl levels of publlc fundln& bud8et constrjlnts In reglonal venues, •nd acute pressures on lrant-maklng trusts and foundatlons. The ablllty of northern-based or8an15atlon$ to leverage pr5vate phllanthropy relatlve to those based In Londm and the southeast, al remaln5 inlflcandy Imb41onced. In order to manage thls rfsk, we have sou8ht to adjust our buslne5s model thls year ond wlll contlnue to do so In the years ahead. In partbcular, findln8 OPPOrtunltles to pather wfth the commerclal slde of the muslc Industry and levera8e prlvate sour$ of Income Ile donatlonsl wlll be essenllal to ¢Jur long-term flnancl#l vlablllty. Thls requlres careful navlgatlon In order to retaln focus In our core charftsble mlmlon and Inteylty In our artlstlc programme. We manaie financlal rlsk through careful budget management. Revlews of the budw and cash flow posltlon are carrled out by the Governance & Flnance SubMmItte¢ who also analyse monthly management account5 submltted by the Chlef Executlve. The quallty and accuracy of ftnanclal m•na8ement and reportln8 Is markedly Improved at both executlve and board le1. The CEO has estsbllshed a robust system of monltorln8 project spend to help ensure that spendlng Is tsr8eted, transparent and 5trate8lcally allgned wlth the oryanlsatlon's mlsslon and key oblectlves. The or8anlsatlon lacks the mature, endowed reserves of other elasslcal muslc or8anlsatlons but nonethele cheS Inandal year end In relatlvely stsble posltlon and has eKeeded annual ldiet taryeL Pale 4
Manthe5tsr Collertlve Trnstees. Report All of the ch•rltable aciivlues are undwtaken for the benefft ofthe publ The trustees conflrni that they have complled the requlremtsts of secuon 17 of the Ctrhirllles A¢t 2011 to have due regard to the publk benefft auldance pUbd by the 04rlty comrn155k for En8land and Wale& The vtsh)n of Manthesttt Coilectlve (MC) is to reshape the future of dasslcal mwi¢ bv radlcal artlstlc work In the north of Eniland and presentlng thls work to audlertce5 In the UK and Intematlonally. Il¥e and onllne. Our ambltlous, original musical produrtlons break wlth conVenOn and embr arDstk risk Audience development has always been at the heart of our work: our alm Is to engage a broader. more dIse range of people wth our produrtk)ns, reachlnl those who are currendy artistEcalty underrwesented and culturally underserved. Through brdve commlsslon8 perfom)ances in non-tradftional space4 an •cce55tble communlcatton style and hhly tailored dtrI marketln& we attrart audlences who do not tyWcally en8age with Ilve dasslcal musl4 as wdl 0$ genre devotee& In shaplng our obJeLtlves for the ye•r and plannlng our a¢tlvl the trustees halt eon51dered the Charlty Commlssion's 8uldance on publlc benefft. irlun8 the guldance on publbc benefit and fee chargln& Manctrrter Collectlve relle5 on a comblnatlon of statutory yant Income, eamed Incom and fundralsed Income to cover Its costs. The actlvltles and strate8les empw to athle% the th¥rWs Jlms and are as follows: . we present a broad ran8e of perfomwnce5 forthe enSoymffit and educatlon of audlence$4cross the UK - we focus our marketln8 efforts on audlences that a not currenuy waging vAth dasslcal musk at a hl8h level, whlle stlll servln8 and connectlng with establlshed thssical audnceS - we Off opportunltk5 for hu8e numbers of people to en8a8e wlth our perfornian$ for frffj vla Il¥e streams of concerts, record releases. and ortnal muskal vijeo contwtthat produce - we are developln8 a range of tnnovatr mul¢ educatlon OPpTrI11e% desl8ned to help traln the generdtlon of outstandln8 professlonal musiclans Manchester Collecttve wnllnues to condutt buslnes5 from The Sharp PrOt In Manthester.
Manthester Collectlve Tru5tees' Report If you everfrel thot your ea need q reboo¢ then I lthe the * remedy." come to o Manchester Collectlve Coftcert. Your entire oudltory System wlll get o thorow w•0t_. ond it won't be lust your eors. r¢ will find blts of yoursdf vlbrattng In all sorts of unexpetted woy5 . ld you may Wvnt to clkynge your whole defvlllon of muslc.. The dozzHngly re-enerwed.. vitlllam Ruff, Nottln8ham P05L re¥1 for Serffity ZO at keSIde Arts Wrth 2025 (r C values and rnotlvatlons remaln rt&dfasr every collecti ts progrnmw comntsslon and prolect Is drf¥en our vlsk)n to reshape the fure of classkal mugc by creatlng fadcal artlstit vrk from our base In the north of England. In January 2025 our Chlef Execu Llnda Bewe outhned her under5tsndin8 ofthese three prfnclples- radlcal, northem, Collect1 - In a leadershlp artkle publlshed on the Manthester Collective wÈb5tt& We are well p05ilioned - In the 202>26 finandal year- to woduce a >year pkn to untspln than. Thls Is an orlanlsatlon now putt7 dTh¥n strong root& Throu8hout the ltsdershlp transltlon we have retalned our reputation as an ambluous pioneer . know from intemational coThferen panels. publlcatlon5. than8ln8 pro8rammln8 and conserlatolre curricula that Manctr• Cdecfjve has been a benthmark for Innovatlon. One Intunatlonally-renowned ¢ontemporarycomposer recendy COMM that •Aanchester Collectlve Is dolng some of the most Intere5Vn8 work In the world wlthln the fiekl of dasskal m1. Wlth a tlny core staff team thls has been achle¥ed by dlhgent plannin& wholehearted coffrnltment and unerrlrq creatl¥e ambition. • We defivered 44 nve wfomiances acros5 a ran8e of UK venues • Outsth ofthe UK we perfomd In 19 ¢itte5 across a)nOnwrtal Europ4 Canada •nd the US4 itsl Htshlhts • ¢)Jr ¥bSIte had 39,7CKI users 26% of whom Vre International. Of our 76% Brltlsh vlsltor4 28% were from Lond and 8% from Manthester. • Across our acifve <nwtsI pknrforrns Ilnstsgrnm. YouTuk new4etttt) Twltnessed a 22% Incre3se In numbers (a8alnst a target of 1&20%1 . Our Instagrnrn reath1216.800 people: a 17% increase) and a1ga8enrtII4.7(a0 act1$. a 42% Increa) hlt a record hl8h. 30% of (r follo¥kn8 Wa5 Internatlonal. Of ow 70% Brlttsh followin& 15% was from London and 12% from Manchester . Our YouTube fotlowkn8 also grew {31%) to 5.200 followws 14% UK and 86% IntnatIonal (the reverse of other platforms) • People 5pert 13.700 hows t*atthln8 our bldeos acrctss alt platfo • 115 pleces of rnedta coveTr8e overall. Indudln8 featsre4 re4lew5 and mthns Pale 6
Manchestsr Collectlve
Trustee< Report
. 29 concert re¥lews. Indudln8 5 In UK broadsheet medla - I x * (Fever Dream5lThe Tlmes), 3 x
(Rothko ChapellThe Guardlan. Spell BookfThe GrdIan, Spell BooVThè Tlmesl. I x *** IFever Dreamsmie
Telegraph)
and 3 In leadlng classlcbl muslc webslte Bachtrack {Slrocco US. Fever Oreams. Rothko Chapel) all
*/
• Other highll8hts: B8C R4dlo 3 In concert IThe Unfurrowed Fleldl, profile features In PRS'S M Ma8a2lne and The Strad.
mentlon5 In revlews for artlst records we perform on, for example The Tlmes, 5-Star revlew of Ruby Hugheg LP featurlng
Manchester Collectlve
ople
• 152 freelance ortlsts, creatlves ond technlujl spe¢la115ts were dlrectly engaled In dell¥erlni Manchester Colle¢tlve
projects; we retsined our commltment to employln8 fveelancers based In the north wherever posslble
• We welcomed 12,363 Il¥e audlence attendees In the UK
. We worked closely wth 35 Mnser¥•tolre students at the Royal Academy of Musk and the Royal Northern Colle8e of
Muslc
• 3 new trustees and 2 youth representstlves Jolned our board
7 cammlssloned artlsts created andlor premlered new work wlth Manchester Collectlve, In¢ludln8 one Jrtlst (N•blhah
Iqbal) for whom thls was thelr first ever classlcal commlsslon.
• 78 actlve donors supported our work thls year. From thls Broup we recelved 283 donatlons. ralsln8 4 total of £75,014
Ilndudln8 81ft ald)- 100% of whlch was relnvested b•ck Into art, 4rt1$ts ind audlences
• 193 muslc
mancISt¢r Collective Tntstees. Report In 2024 we devlsed and estsbltshed a bran(knew artlst deveknpt progranyne tled EXPERIMENTAfor talented muslc ue•tors who have struggw to access the contemporary cLtsslcal muslt spa¢& Rooted In tr Ilved exwlence of dlverse emer8lng artSsts. the programme has been devlsed to supwrt a tsir, rewe5entatlve and dynamk muslc sector; In whlch excltin8 artlstle vokes from all bathyounds can feel anpowered to create new muslG It provldes ontrt¢>one mentorshio, workshop4 an Inten¥? tWdaY re51dency. shorase perftyfflan and acce$5 to InfintIal professlonal networks plus publlc association wlth the MancISter collec brand. Crudalty. It places c value on the ueatl¥e process rather than cornmisyonln8 a finished work We received an overwhelming response to the CallUL 193 applkatlons allowed us to gather rfch dats aboutthe klThl of obstsdes that exdude tslented creators from contemporary dasslcal rnu51o The first workshops be8an In March 202S and already we have had Interestlng sesslons eyploring how mlgrant artlsts can brlnl their own cultural herits8e to western da55kal musk. how we can find a shared musical lan8ua8e and expel of the fears/myths around thls art forni. In partlcular, partlclpants blovm away by the dlscoverythat our MUClan5 can Interpret drawln8s and words, sh as the 8raphk SCO of Nell Hamilton and Geor8e Crumb. and that musical ideas do not always have to be tran51atsd Into rtsted manwW We hope that over the next three years thts 5theme wllj become embedded In the UK'S talent development ecology. and that Tht'll see alumnl from the stheme on the radar of commIIng orches$ and ensembles. The programme's shorase event In 1¥ Is dd to dolust thaL WSthln the core dasskal world. we were Invited thls year to ernba on a partnershlp pro8r4ffwne wlth the Royal Northern Colle8e of Music whith wlll see a MarKhester Collectfve Studio at the con5ervatolre from September 2025-July 2028. Thls 1] be • p05t8raduate tralnln8 prOgraMff for strlng playss wish to forge a creat1% career outslde of the tradltlonal orchestral structur& Several wlor irKlustry 118ure5 su88est&l that we hawd a unlquefy creatlve 'produ¢Y that ciwld enrlch not only UK spedallst tralnlng but also the pro8rammes of European classical mulc Institutlons. Alongslde Ngher educaUon. a ¥ltsl component of our train1 ts the corKurmt employment opportunjtles for freelance Perfornr$ and creatlves - TA* are commltted to emboldenln8 the emploYTht plpellne In northern England and have a proven track record of tak a rlsk on uner8in$ perfonners rather than defaultln8 to established name& We would expect these fdcets of our to Strengthen oveJ the comlng yeats.
Manchester Collectlve Trustees. Report FlnJndJl revlew Totsl Incomlni resources forthe year amounted to £903,28312024- £778,593). Income from tharitsble actlvltles Increased 10 £613.61012024- £404,785). Totsl expendlture forthe yeartotalled £792,59512024- É696,2161. The overall results for the year are a surplus of £99,11812024. £80,938). The total reserves of the ch8rlty at 31st March 2025 •re £209,334 {2024 . £110,216). The unrestrkted reserves are £182.834 (2024-£100,016) and the restrlcted reserves are £26,51)012024- £10,200). For the second ¢onseeutlve year mahester Collectlve h&$ mode excellent progress towards meetlni Its selVeS tsr8eL Prudent control of project budgets, several successful Intematlonal tours comblned wlth recordln8 work for commerclal art15ts meant that earned revenue was Stron8. IndlvSdual ilvln8 surpassed target and the or8onlsatlon was able to bulld on the modest surplus acuued at the end of Pl 2023.24. In the current fundln8 / tlnancljl ¢llmats bulldln8 reserve5 Is extremely dlfflcult and the CIO h45 been resolute In Its focus. There contlnue$ to be stron8 publlc demand for our work In both the UK and, Increasln8ly, In ¢ontlnent•l Europe. M¥xlmlslni earned Income In futuie finan¢l•l ye•rs wlll be key to the contlnulng healthy growth of the Collectlve. The charltys prlndpal sources of fundral$ed Inmme •re ioNprnment irints, and grants from trusts •nd found•tlon% Voluntary In¢ome Donatlons In FY 24125 rose materlally from the pre¥lous year, desplte human resource In thls are4 beln8 $18nlfi¢antly reduced (Unda 8e8ble, the organ15atlon's sole fundralser, took on addltlonal responslbllltles as Interlm, then perm•nenL CEO). We contlnue to monltor the fundralsln818ndscape Closely to ensure thit tsr6ets are set rPonsIbly. Reuulknent for add10nd1 fundr•lslng stsff wlll be a prlorlty In early 2025. Page 9
Manchester Collectlve Trnst••J' R•port Manthestei Colknlve alms lo mfvlhiiln fei?IVPl Ai whkh tHI en•1• lh• oipniiollon IO PItr for eontln8encs. wiihsl•rrtl perlodj ol pool tr•dI rnndllloni oi, In elt•m• itumsl•nces. to manay • Ivndament•l re5tnthre. or orderly wlnd41Lwn. ol Iii •dlvltles. Ihe liusleP.s èslJbllJhed Ih? l•vel d rtseives lihm Is lunds th•t are freel¥ mllbblel ihat the rharlty ihovld Mle•lly h•¥. Thv cuireni le¥el oe1ermld Idevlsed to cv4er Cl(Ys corn tosts loi J pedod of three months) 1% f lJO. MJrKhestei Collertfve aims to make a sm•1 surp5 ihrouih Its eN•ymentJ. li Is Intended that ary sh Sufplus wlll be used to ensiire tt the Seo$ ts Khle¥d •nd m•lnl•lnod. Addlllon•lly. It IJ InteNled th•t my su¢h wrplus lll lje L¢sed as a c¢ntlwency Ivnd In order to ollecthtly manw •ny de¥l•lbDnS In Iwdyt expectstlofis, Ineludlry bad detrts. or to asstst In fft•Intsln1 • Cash fiow b•l•nct If Tequlred. thu•nSMtloMI UThtrd reseThes •t 31 M•vth 2Q25 •re £182,834, however £40,0 af the ra¢r¥es been p•kl pfront by Art5 Cwncll En85)nd for fvndlni to be used In the 202>2026 financ1 yeaf. Il we dlscount tt •&NAnced fvndlng our reservès %Kiukl be £142.834. In such ¥olatlle economk condltlons, trustees have determlrd that a methodkal and rteady pace of yowth Is essentlal to malntalnlni thls level of orynlsatll reser¥. As such, tTUStees Im to complete the ¢urTtnt buslne55 cyc IM•th 2026} wlth the mlnlmum level ol reser at É130.(XJ). There•re r•0 funds In deft The trustees Ve r1*d Ing c(xK¢rn and are tISfied tt the ch•rlty ¥AII remaln a 8oln8 concem for J ptrlod In e ènnu eport TW approved tythe trustees ofthe charityon 23 Juty 2025 and sned Its behalf bv: D McKelth Chair and trustee Page 10
Manchester Collectlve siatement of Trusteeg, R•Jponslbllltles The twstees I It5ty)nslble loi the liiiitvos. iewjrt •nd ilie IinaiKlo1 stAtemnls In •cccrfd•rte wilh the Unlted Kln8dom Actwrtii si•ndards Iunlted Kiwlom Genei•lty At(ppletl Atfounll Plrttkel and applk•ble kThv •nd rewtsllons. The l•w applk•b to CrflS r4yltY5 Ihe In15tre% lo prep•T IIMrKb•l iiAlemnts loi Iln•nclal year whkh Éive • true f•lT vlew ol the state ol iffa115 01 the thDiRy d lthe IN0Ml rvwuicej Ind •pplk•ilon ol resources of the chlrityfor that perlod. In preyrln8 these flninclal $18tements, the trusteei •ie requlied to.. selea sult•ble accwnlln8 Okles and then •ppty them ¢wl$lent. Obse the mèthods Ind prIncIpS In the Ch•itts S(XlP; make judgements 4rn4 esllmltes thal reasonable pn¢ stste Tetl applklble xcountl stsfrtlards h•¥e been lollowed. subled to ary m•tert•l dep•rtures d¢Sed and eMplalrd In the fiMn¢ial 5tateirthts; and the fbMnd•l slaten on ihe ¢oncern basb unless It b IMpprOpr to presume thrt ch•rlty wlll ContIN In twslne5& The ttUStees •re re4nsIb tor keeplni proper accountlni record5 thit dlxbse wlth re•scrtuble ac¢uw It •ry tkn¢ finandjl PIOn of the th•rify and tble them to ensure that the flnIal st•tements c¢mpty wth the Chorlljes AL% 2011. the Charl5 (Accounts and Reports) Rryu1athY 2(1)8. and the pThlskns ol the constitsrtFon. The trU5tee5 are •14> Itsrth for Idl the assets at the th•rlty aThl henry ftytsklry reasonab stops for the pre¥entlon and detettion of frjud and other IrreI)rItIe The tfustees are re5ponslble lor the malnteNnce •nd Intrfv of th¢ cThporitr •nd flnan¢l•l InfomiatlDn Induded on the charttsblt comp•ny's tbslte. Leetskni ltyernl the yepratkn •nd dlssemSn•tkm of IlftJn¢I ststements mav dlllerfrom l•kn In otherlurlsdlth Appr bytt trnsttts of h hlthon 23 July 2025 sd on bth•K ty: D Mdelth Chalr andtrurtee Pwii
Manchester Collertlve Independent Examinevs Report to the trustees of Manchester Collectlve I reportto the trustees ¢)n my examlnatlon of the accounts of Manchester CollectSve for the year ended 31 March 2025. Resplinslbllltles and basls of report As the ¢h•rrty trustees of Manchester ColleCte you are re5ponslble for the preparatlon of the accounts in accordance wlth the requlrements of the Charltles Act 2011 (Ihe ACV). I report In re5pert of my examlnatlon of the Manchester Collectlve's accounts carrled out under sectlon 145 of the 2011 Act and tn ¢arrWng out my examlnatlon I ha¥E followed all the applicable Dlrections 8l¥en by the Charlty Comm155ion under section 14515llbl of ihe ACL Ind4endent examIne$ ststement Slnce Manthester Collectlve's gross Income exceeded £250mO your examlner must be a member of a body Nsted In sectlon 145 of the 2011 Act. I conftrm that l am qualified to undertake the examlnatlon because l am a member of the Instltute of Chortered Accountsnts in England and Wales. whkh is ¢)ne of the Ilsted bodle% I hève completed my examlnatlon. I confirm that no materlal matters have eome to my attentlon in connectlon wtth the examlnatlon giving me cause to belleve that In any m•terlal respect: L accountlng e0rd5 were not kept In respect of Manchester Collecll¥e as requlred by sectlon 130 of the ACL. or l the account5 do not accord wlth those records; or 3. the accounts do not ¢ompty wlth the accountlng requlrements ¢orternlng the fom and content of accounts set out In the Charltles (Accounts and Reports) Re8ulatlons 2008 other than any requlrement that the accounts ¥lve 'true and fair view, whlch is not a matter con51derad a5 part of an Independertexamlnatlon. I ha¥È no concems and have come across no other matters In conne¢tion wlth the examlnatFon to T*thlch attentlon should be drawn In thls report In order to enable a proper understandln8 of the acciwnts to be reached. hn Saxo ute of red Accountsnts In England and Wales e Moffatts Partnershlp LLP Sulte 1.1, Flrst Floor. Jackson House Slbson Road Sale M33 7RR 23 July 2025 Pa8e 12
Manchester Collectl Statsment of Finandal Actlvltles for the Year Ended 31 March 2025 Totsl Totsl tlonatlons and *des Charftsble •etl¥ltles Investment Income 220.014 613,610 289,242 613.610 431 373,141 404,785 93 574 431 Other Income Totsl Income 833,624 69.659 903,283 T18.593 Expendltyre on: Charitsble actlvStles 53J59 792,5951 696.216 Total expendlture 53.359 792595) 696,216 Net Income 16,300 110.688 82,3TI Other reco1$•d ylns and Iosms Other8alnsllosses (11?0 IL570 1.439 Net M0ment In fvnds 81818 16.31JO 99,118 80?38 R•condll•tl•n of funds Total funds brouiht forvArd ICKI,016 10,200 110,216 Tot•1 funds e4fTled fonnrd 182.834 26,500 209,334 110,216 All of the ¢harlty's •ctlvltles dffl¥e from contlnuln8 ¢x)erntlons durln4 the above two perlods. The funds brkdo¥ for 20241$ $lwn In note 19. The notes on pa8e$ 16 to 32 form an Inte8ral partof these flnarKlal stataTr. Pay 13
Manchester Collectlve (Reglstratlon number: 1167125) Balance Sheet as at 31 March 2025 2025 2024 Not• Flxed •ssets Tan8lble assets rreffl •SSts Debtors Cash •t bank and In hand 1,617 4,856 15 117,615 IdO,016 257.691 125.514 61,803 187,317 181.957 16 149,969 Credltors: Amounts hlllr4 due wlthln one y•ar 17 207 722 105,360 209,334 110,216 Funts dwrfty: 19 26,5 io,x Restrkted funds unrn5trl Income fvnds UnreStrf fvnds 182,834 l(M),Q16 110,216 19 209.334 Total lunds The flnanckjl #atements on pages 13 to 32 were approved by the trustees. and authorlsed for1s5ue on 23 Juty 2025 and thelr behalf by: D McKelth Chair and trustee The notes on pa8es 16 to 32 forni an Integrdl part oftlse flnandal statements. Page 14
Mancherter Collectlve Cash Flow Statement for the Year Ended 31 March 2025 2024 Cosh flthys from operatlnz actl¥ltles Net cash Income 25,545 80.938 Adluslments to cash flows non4ash Items Depreclatlon Investrptht Income 3,243 431 5,209 93 28,357 86,054 Worklnl capltsj •dJustmeThts DecreJse/llncreasel In debtors IOe¢reaselllncre•se In credltor5 15 81,054 131,569 {13,8281 11,009 17 Net c•sh flows from operatlni actMtle5 77,842 83,235 C•sh from Investln8 aCtl¥ltles Interest recelved Acqulsltlons of tsnglble assets Pr4)ceeds from sale oft•n8lble auets 431 93 IL8741 473 Net ¢a$h ffiows from Investln8 actItIes 431 (1,3081 C•sh Il•M from ftnandni acthiiil•s Repayment of bank borrowln8S 30,OIX) Net Incre•se In cash Ind c•sh equl¥alents 78,273 51.927 C•sh and cash equlvalents •t l Aprll 61,803 9,876 Cash and cash equlv•lents at 31 March 140,076 6L803 All of the cash flows are der1¥ from ¢ontlnuln8 operatlons durln8 the ab two perlods. The notes on pales 16 to 32 form an Integral part ofthese flnanclal statements. Page 15
Manchester Collectlve Notss to the Flnanclal Statsments for the Year Ended 31 March 2025 l Accountlng polldes Staiement of compll•n The flnanclal 5tstements have been prepared In accordance wlth the second edltlon of the Charltles Statement of Recommended Pfactke Issued In October 2019, the Flnanclal Reportln8 Standard appllcable In the Unlted Klnidom and Rewbllc of Ireland IFRS 1021 and the Charlttes Act 2011. Juls of pieparatlon Manchester Collectlve meets the definltlon of a publlc benefit entlty under FRS 102. The accounts lfinanclol statements) have been prepared under the hSstorlcal cost conventlon wlth Items reco8nlsed at cost or transacllon value unless otherwlse stated In the relevant notrf51 to these accounts. 1Soln8 concern The fln•nclal statements have been prepared on • aoln8 coneern basls. The trustees •sses$ whether the use of lolni concem Is approprl•te l.e whether there •re any rnater1 uncert•lntles related to events or condltlons thot may cast s18nlfleant doubt on the 4blllty of the charlty to contlnue ¥5 a golni ¢1ceM. The trustees m•ke thls assessment In respect of a perlod of one year from the date of approv•1 ofihe fln•nclal $tstements. In¢ome and endovffiiqnts Voluntary Income Includln8 donatlon4 8lfts, le8a¢les and 8rants that provlde core fundlng or are of a leneral nature Is rew8nlsed when the Ch•rlty has entitlement to the Income, It 1$ probable that th¢ Income wlll be recelved and the amount can be measured wlth sufficlent rellablllty. Where Income has related expendlture las wlth fundralsln8 or contract In¢omel, the Income and relatsd expendlture are reported gross In the Statement of FInal41 Actlvltles. I>DMtlons andl8qa¢le$ Oonatlons and leaacles ire recognlsod on • recelvoble basls when r¢¢elpt 1$ prob•ble and the omount c•n be rellablv measured. 6mntsrecefvobl¢ Grants are reco8nlsed when the charlty has an entltlement to the funds and any condltlons Ilnked to the 8rants have been met. whe perfomiance condltlons are attached to the 8rant and are yet to be me( the Income Is reco8nlsed Is Ilablllty and Included on the balance sheet as deferred Income to be released. InKstmentlncome In¥tment Income Is reco8nlsed on a re¢elv4ble bas1& P88e 16
Manchestsr Collectlve Notss to the Flnandal Statements for the Year Ended 31 March 2025 Eyndlture All expendlture Is reColsed once the Is a le8al or constructfve obftgakn to that expendlture, It ts probable settlement Is requlred and the amount can be measured rel1•y. All costs are allocated to the appllrable eXpxI1tUre headlni that 488re8ate slmllar costs to that cate80ry. Where costs Cannot be dlreth attrfbuted to rtICular headlngs they ha¥e been allocated on a basls conslstent with the use of resources, wlth central stsff Costs ¥lioc•ted on the basls of tSme spen( and depreclatkjn tharges allocated on the portlon o the asseys use. Other sLwport costs a allocated based on the spread of stsff cos Charitsble expendlture comprlsts those costs IrKurred by th• thirlty In the dell¥ery of Its actIleS and swvlces for Its beneft¢larles. It Includes both tosts that can be allrKated dlrectly to Ktlvltle5 and those costs of an Indlrert nature necesury to wppgrt them. Support costs Support costs Indude central lunclk)ns •nd have been •llooted to cost cateiorfes on • b•sls ¢onslstent wlth the use of resources, for example. allocatlni propetty Costs by Iloor are•s. or per captta, staff costs by the tlme spent and other ¢)sts by thelr usa8e Go¥•rn•nce costs These Include the costs •ttrlbutse to the charws compllance vAth constllutton•l •nd st•tutory requlrements. Indudlni •udlL strate81¢ mnalement and trustees meetln8s and felmbursed expenses. GMm•t arants Government yants are recqnlsed based on the accrual model •nd •re measured at the falr value of the •sset rttelved or recelvable. Grants are dasslfled as relatln8 elther to rthnue or to •S5ets. Grants relatSn8 to revenue are recoinlsed In Income over the perlod In whlch the related sts are reco8nlsed. Gronts relotlng to assets are reco8n15ed over the expected useful Ilfe of the 4sseL Where of i yant relatkng to an asset 1$ deferred, ft Is recoinls¢d as deferred Incom T•xatlon charfty Is consldered to Pa the tests set out In Par•8r•th I Sthedule 6 of the Flnance Act 2010 and therefore It meets the definftlon of a charitsble company for UK eorporatlon tsx Purpo Accordlndy. the charlty Is potenthlly exempt from taxatlon h respert of In¢ome or ca1 8alns recelved thIn categorfes covered Chapter 3 Part 11 of the Corporatlon Tax Act 2010 or SecElon 256 of the Taxatlon of cr8eable Galns Act 1992, to the extent that such Ilme or 8•ln$ Ire applled exdusl¥ety to charltsble purpos Tanble fixed 4swts Indfvldual fixed assets u)StI £IIXI.CKI or more are Inlilally recorded rt cost Depredatlon and amortlsatl OeprLxlatlon is provided on tan8lble flxed assets so a5 to wrke off the cost w valuatlon, less any estlmated resldual value, 0r thelr expected useful econornlc Ilfe as foll(v•ts: Pw17
Manchester Collectlve Notes to the Flnanclal Statements for the Year Ended 31 March 2025 Depredailon method and rate 33% Stralght Une Basls Equlpment Trade debtors Trade debtor5 are amounts due from customer5 for mercharKllse sold or seTvlces perfomied In the ordlnary course of buslne5 Trade debtors are reco8nised Inltlalty at the transattion prlce. They are subsequently measured at amortlsed tost U51n8 the effecd¥e Interest method. less prov155on for ImpairmenL A provSslon for the Impalrment of trade debtors Is estsbllshed when there Is objectlve evldence that the charfty wlll not be able to collect all amounts due according to the orl8lnal terms of the recel¥able& Cash and equlvalents Cash and cash equlvalents comprlse cash on hand and call deposlts. and other short-term hlghly Ilquld tnvestments that are readlly convertlble to a known amount of cash and are subject to an In*nmcant r5sk of change In value. Tr•de uedltors Trade credltors are obli8atlons to pay for goods or Serv1 that have been acqulred In the ordlnary ¢our5e of buslness from suppller5. Accounts payable are classrfled as current Ilablllttes If the doe5 not have an uncondltlonal rlgh¢ at the end of the reportln8 period. to defer settlement of the credrtor for at least twdve months after the reportlng date. If there Is an unCondIonal rlght to defer settlement for at least twelve months after the reportlng date, they are presented as non-current Ilabllltles. Trade ¢redltors are re¢o8nised Inltlally at the tran5actlon pr and subsequently measured at amortl$ed c05t uslng the effedive Interest method. Page 18
Manchester Collertlve Notss to the Finandal Statements for the Year Ended 31 March 2025 Ftyelaft exchan8e Transactlon5 In forelgn currencles are recorded it the rate of exthange at the date of the transactlon. Monetary assets and Ilabllltles denomlnated In fOIgn currendes at the balance sheet date are reported at the rates of exchange prevaillng at that date. The results of overseas oper•tlon5 are translated at the average rates of exthan8e durfn8 the perlod and thelr balance sheets at the rates rulln8 at the balan¢e sheet date. Exchange dlfferences ar151ng on translatlon of the openln8 net assets and results of overseas operatlons are reported In other comprehenslve income and accumulated In equlty {ottrfbutsd to non<ontrolllng Interests as appropriatel. Otherexchan8e dlfferences are rewgnlsed In the ststement of flnancial actlvftles In the pwlod In whlch they arlse except for: exchange dIffenceS on transactlons entered Into to hedge ortsln forel8n currency rtsks Isee abovel; 2) exthanie dlfferences arIn8 on galns or1055e5 on nonwmonetsry Items whlch a recognlsed In other comprehenslve Income; and 3) In the case of the consolldated ftnandal ststsments, exchange dIffenCeS on monetary Iterns fecelrdble from or paydble to a forelgn operatlon for which settlement Is nelther planned nor Ilkely to occur (therefore fom)in8 part of the net Investment In the forelgn operatlon), whlch are Rco8nlsed Tn other coMprehS1Ve Income and reported under equlty. Fund structure Unrestrlcted Income fvnds are general funds that are avallable for use at the trustee's dlscretlon In furtherance of the objectlves of the charlty. Restrlcted Income funds are those donated for use In a partlcular area or for speclflc purpose& the use of whlth Is restricted to that area or purpose. Penslons and other post rellrement obl*allons The char]ty operates a defined Contributlon penslon scheme whlth Is a penslon plan under whlth fixed contrlbutlons are pald Into a penslon fund and the charlty has no legal or constructlve obli8atlon to pay further contrlbutions en If the fund does not hold sufflclent a55ets to pay all employees the beneflts relatlng to employee ser¥lce In the current and prior perlod& Contrlbutlons to defined contrlbutlon plan5 are reco8nlsed In the Ststement of Nnandal ActIvleS when they are due. If Contrlbutlon payments exceed the contrSbutlon due for servlce, the excess b reco8n15ed as a prepaymenL Page 19
Manchestsr Collertlve Notss to the Flnanclal Statements for the Year Ended 31 March 2025 Fln4ndal Instruments Flnanclal assets and flnancl•l abIlItIeS are reco8nlsed when the charfty becomes a p•rty to the contractual provlslons af the Instrument. Flnanclal Ilabllltles and equlty Instruments are classffied accordln8 to the substsnce of the contractual arrnnlements entered Inio, An equlty Instrument Is any contract that evldences a resldual Interest In the assets of the charlty 8fter deductlnaall of It$ Ilabllltlo& Rewqnttlon andmeosurement All flnanclal assets and Ilabllltle$ 8re Inltlally measured at trlnsactlon prke {Includln8 traN•ctlon costs), except for thase flnanclol assets classffied as at falr value through proflt or loss. whlch are Inltlally measured at falr value Iwhlch Is nornially the transactlon prlce exdudlng transactlon costsl, unless the arraniement con5tltutes • finandng transactlon. If In arrnnlement constltutes a flnoncln8 tronsactlon. the financlal asmt or flnanclal Ilablllty Is measured at the present value of the future payments dlseeuntsd at a market rate cf Interest for a slmll•r debt Instrument. Flnjnclal assets and Ilabllltle5 are only offset In the ststement of ftnanclal posltlon when, and onty when there exlsts • leoally enforceable rl8ht to set off the recognlsed amounts •nd the tharlty Intends elther to settle on i net basls. or to feallse the Set and settle the Ilablllty slmultaneouslv. Fln•nd•l assets are dereco8nl$ed when and On when a) the ntraCtUal rl8hts to the cash flows from the flnonclal 4s5et explre or are settled, bl the charlty transfers to another party substantl•lly all of the rlsks and rewards of owrorshlp of the financlal assei or cl the chaflty, desptte havln8 retslned 50me, but not all, slgnlficant rlsks and rewards of ownershlp, s transrred control of the asset to another party. Flnand•l Il•bllltles are dereeo8nlsed only wh•n the obllytlon spedfled In the Contract Is dlscharged, cancelled or explres. 2 Income fv(¥Tr donatlon$ ind le8acles Unr¢$lrfrted funds General Restrlcted funds Totsl Total Donatlons and legacles; Don•tlons from IndMdu•ls Glft ald reclalmed Grants, Includlnq capltal 8rants; Govemment arants Grants from other ch•rftles 63,088 IL926 63,088 11,926 29.222 5,269 io,(x)o 45,000 ioo,ooo 114.228 189,700 148,950 69.228 220,014 69.228 289.242 373,141 Grints from other charltles Induded £23,700 of restrlcted Income In the prlor perlod. All other Income from donatlon5 and le8acles In the prlor perlod vms unrestrlcted. Page 20
Manchester Colledlve Notes to the Flnanclal Statements for the Year Ended 31 March 2025 Grants reeelved from other tharltles Include: 2025 2024 D'oyly Carte Charltable Trust Gr8nada Foundatlon 3.500 2,SlX) 1,000 Haworth Trust 25,000 7,500 8,000 21500 PRSF 8eyond Borders Talent Development Partnershlp Network L•urlston Trust 10,000 7,51XI 1,000 40,000 1500 3,500 Gjrfleld Weston Founthtlon 20,Ixio Fldello Trust 1,500 3,500 Albert and Eu8enle Frost Mul¢ Trust Hlnrlchsen Found8tlon L200 Fayle Foundallon Maln8Ot Trust Marks Famlly Ch•rltble Tn Nevlelle Abraham Foundatlon 20.01)0 15,000 7,500 750 Nlcholas 8epwln Chjrftable Trust 8,CKIO Peter Samuel Charitsble Trust 250 Rayne Trust Surrey Square Charlt•ble Trust ThrlplowTrust The Leche Trust 500 250 3,OC#) 2,000 Cockayne Foundatk*n Gorrfck Club 8.000 2XIO Idlewlld Trust 5,000 Marchus Trust 5,000 14,728 Reyal Holloway SCOPS Art Trust V•u8han Wllllams Foundatlon Totsl Grants from other charftle5 114.228 148,9SO Pa8e 21
Manthestsr Collectlve Notes to the Flnancial Statsrnents for the Year Ended 31 March 2025 3 Income fri#n ¢hwlt•ble Kil¥li funds Tot•1 Totsl Perforni•nce Fees Educ4tlon Work Broadcast Fees Tr•vel Expenses Studlo Recordlng Fees Speakln8 Fees Orchestra Tax Rellef Recor(l sales 477*75 477.875 340,796 76 s22 29,295 s22 29,295 5,060 16,633 207 85,848 8.370 34,310 1,303 8370 613,610 613,610 404,785 All Income from ch4iitsble acuvttles In prlor pwlod was unrestrttt•d. R¢strl¢thd fvnds Tot•1 Interest recelvable and MIlar Inco Interest recthble cn nk deposlts 431 431 93 431 431 93 All Investment Income In the prlor perW restrlcted. 5 olr Income Total 2025 Totsl Galn$ on sale of tsnglble fixal assets for ch¥Ws use 574 Page 22
Manchester Collectlve Notss to the Hnanclal Statsments for the Year Ended 31 March 2025 6 Expendlture on tharltable actl¥lll¢s Unrestrl¢tsd funds General Rastrlctsd lundi Total Total Project Expendlture stsff Cost Marketlng Expenses Premlses Costs Office Costs General Expendbture Travel Costs Governance Costs 8•nk Charges Oepreclatlon 395,370 252,166 25,037 15,837 9,596 26,663 3,567 6,540 1,216 53.359 448.729 252,166 25.037 15.837 9.596 26,663 3,567 6,540 1,216 3,244 362,275 243,116 32.720 14,580 11,710 13,312 5,351 7,627 316 5,209 739,236 53,359 792,595 696.216 Prolett expendlture tot•llln8 £33,593 related to restrlcted funds In the prlor perlod. AU other expendfture related to unrestrlcted fvnd& 7 An•lW$ of 8ov•rnance 4nd iupport ¢01 Ga¥•m•nce to Uftrestrl¢¢•d fvnds Gener Total 2025 T¢>tal 2024 Independent exomlner fees Examlnatlon of the financlal statements Otherfees pabd to exarnlners Other iovemance corts 3,000 3,540 3,000 3,540 787 6,540 6,540 Pale 23
Manchestsr Collectlve Notes to the Financlal ststsments for the Year Ended 31 March 2025 8 Government 8rants Grants have been recelved from the Arts Councll England. The amount of grants recognised In the financlal statsrnents was £IOO.00012024- £189,700). 9 Net Incomlnglout8oln8 resour¢os Net Incomln8 resources for the year Include: 2024 Depreclatjon Offed assets 3,244 5.209 10 Trustees remuneratlon and QenSeS Durlng the year the charity made the followlng transactlons wth trustees: N Trygstad N Try8Stad ee7Ved remuneratlon of £4,68212024'. £4,822) durfnB the yeaf. Nl¢k Try8Stad Is a muslclan and has been remunerated as a freelance musiclan. S M Nolan S M Nolan recelved remuneratlon of £3.71312024., £3,811) durlngthe year. Sara Margaret Nolan wa5 •ppolntsd trustee on 23rd June 2024. Sara Maryaret Nolanls • muslclan and has been remuneratsd a5 a freelance mu5iclan. R Glbson R Gibson recelved remunerallon of £NEI {2024.. £5,631) durlng the year. Ruth Glbson was no longer 4 trustee In the 2024-25 tsx year. Ruth Glbson Is a musidan aftd has been remunerated as a freelance muslclan. No trustees have received any re1m1rsed expenses or any other befft$frOM the tharlty durln8the year. Pa8e 24
Manchester Collectlve Notes to the Anan¢lal Statements for the Year Ended 31 March 2025 li stsff Costs The aregate payroll costs were as follows: 2025 stsff costs durfng the year were: Wa8es and salarles Social securlty costs Penslon costs 222.210 18,430 IIN54 212.921 17.342 11.057 1,795 Other5tsff costs 252,166 243,115 The monthly average number of Per% Ilncludln8 senlor management / leadershlp team) employed by the tharlty durln8 the year expressed as full time equfvalents was as follow5: 2025 No Management and Admlnlstrntlon 6 (2024- 6) of the above employees partktpated In the Deflned Contrlbjtlon Penslon Scheme5. Contrlbutlons to the wnployee penslon schemes for the year totslled £11,160 (2024- £10.7631. No employee recelved emolumats of morethan £60,000 durlngthe ar The total employee benefits of the key management personnel of the charlty were £138,307 {2024- £100.7221. The chlef executlve offlcer, a5 the hlghest pald memberof stsff. recelved benefits totsllln8 £64.08512024- £54.448). 12 Independent wmlner'$ rnmuneratlon Examlnatlon of the finartlal stateMts 3.000 3,IX)O Oiher fees lo ern[ner$ All other seNlces 3,540 13 Taxatlon The charlty Is a reglstered charfty and Is therefore exempt from taxatlon. Pase 25
Manchester Collectlve Notes to the Flnanclal Statements forthe Year Ended 31 March 2025 14 Tan8lble fixed Furn1re and Ipmtht Total At l Aprll 2024 34.818 340 At 31 March 2025 34.818 34,818 Depredallon At IAprfl 2024 Charge for the year 29,963 3,243 29.963 3.243 At 31 March 2025 33,206 33.206 Ne¢ book ¥•lue At 31 March 2025 1.612 L612 At 31 March 2024 4,855 4,855 15 Debtors 2015 2024 Trade debtor5 31.21x1 11,187 73,299 L929 Prepayments Accrued Income Other debtors 37.076 34.736 117,615 125,514 16 C•sh and $h eqy1¥41ents 2024 Cash at bank 140,076 61.803 Pa8e 26
Manchester Collectlve Notes to the Hnanclal Statsments for the Year Ended 31 March 2025 17 Credlttys." amounts wlthth (e v Trade credltors Other tsx•tlon and s¢xlal securlty VAT credltor Cruals 33,532 49.657 L142 15,279 15,879 IL465 4,972 49.969 81.957 18 P•nthm •nd other Kh•m The eharlty operates a defined Contrlbutlon penslon sthem& The penslon cost ch•rye for the year represents contrlbutlon5 payable by the tharlty to the scheme Ind amounted to UL45412024- £ILO57). Page 27
Manchester Collertive Notes to the Finandal Statements for the Year Ended 31 Marth 2025 19 Funds Other Balaft at I Incomlns Resouwces recognlsed Balance at 31 Aprfl 2024 resour expended 8alns/(losses) Marth 2025 Unrestrkled Genernl General Funds l(Kl.016 833,624 1739.23 (11.5701 182,834 Restrlcted fvnds Brltish Council- Irrtemallonal Projects Cockayne FoUndaOn Albert & Eugenie Frost Musk Trust 10,200 (10,200) 18,0001 3,500 Artlst Ikn?lopmt Proyamme Vaughan Wllllams Foundailon Royal Holloway of London Fldelio Trust SCOPS ArtsTrust 26J)00 18,OlX)) {3,000) (14.728) (1s00} 18,1)OD 14.728 PRS Foundatlon Befid 8ordws (7.S(K>l 431 431) 69,659 153359) Intuest on re5trfcted resw¥e5 TO1 re5Cted fwmls 10.21x1 26.500 Totsl funds 110,216 903.283 1595) 111,570) 209.334 Included wlthin unrestrlcted fvn(ts carrled far¥Ard Is £40XKKI that has be paid upknt ty Arts Coundl En8land for fundlng to be used In the 202>2026 flnandal year. Pale 28
Manthester Collectlve Notes to the Hnanclal Statements for the Year Ended 31 Mah 2025 Other feco8nlsed 8•lance at 31 8•IDs1(Iwses) Marth 2024 B414n¢e at I Aprll 2023 In¢omlnB resources Re$our(e$ expend Unrestrtcled funds 6en8ml GenerAI Funds 9,278 765,000 16n.8511 11,4111 100,016 R¢strlcted Commlssloned Works 8rftlsh Coundl- Internotlonal Projects Gran•d• Foundatlon 12,500 112,5001 20,000 93 19,8931 10,200 Total r¢•trlrtqd funds 20.000 13,593 23.393 10,200 Total fundl 29,278 778,593 1696,2441 1,411 110.216 Pale 29
Manchestsr Collectlve Notes to the Flnanclal Statements for the Year Ended 31 March 2025 The speclfic purpose5for whlch the funds ère to be applled are as follows: Commlsslon Works- th151s Income spedfi¢4lly re¢elved for artlst commlsslon% 8rltlsh Councll, Internatlonal Collaboratlon Grart. Thls ts Income recelved for a collaborntlon betwe Manchester Collertlve ond the Norwe8lan chamber Orchestra. The proJect15 now compfete. GrarAda Foundatlon-to support local artlst development CoLayne Foundatlon- to support the development and dell¥ery ofcornmlssloned new muslc perfomied In London. Albert & Eugenle Frost Muslc Trust to support the development and dellvery of chamber musk activity wlth dlsadvants8ed young strlng players In central Manchester. Artlst Development Programme- to support the development and dellvery of Manchester ColEectlve EXPERIMENT& an artlst development programme deslgned to support underrepresented muslc creators +KJ have eXperIeed barrlers to the world of contffnporary classlcal musk. Vaughan Wllllams Foundatlon - to support the premlere of new work composer Laurence Osborn, for planlst Zubln Kan8a. Royal Holloway of London - to support the development and perforniance of new work by composer Laurence Osborn, for planlst Zubln Kanga. Fklello Tru5t- to support commlssloned new work In the 20225 •rtlstlc season. SCOPS Arts Trust - to support the development and dellvery of The Turnln8 •nd assocl8ted work wlth dlsadvantaged young musldans In central Mandster. PRS Foundatlon Beyond 8otders - to support commlsslonlng and tourlng work wlth Fergus Mccreadle Jazz Trlo (The Unfurrowed Fleldl. Pale 30
Manchestsr Collertlve Notss to the Flnanclal Statements for the Year Ended 31 March 2025 20 A$ of net assets between funds ilnresirlrted funds General Total funds at 31 Moyth 2025 Rertrfct•d funds T¥nilble fixed assets Current 855ets 1,612 231,191 49,9691 L612 257.691 149,969 26.500 Current Ilabllltles Total net •ssets 182,834 26,500 209,334 Unrestrlrtod htnds a•ner41 Total funds It 31 Mirth 2024 Rostrf¢t•d funds TOnbIeXed assets Current amets Current Ilabllltles 4,856 177,117 81,957 4,856 187,317 81,957 10,200 Totsl net •ssets 100.016 10,200 110.216 21 Analy% of net funth At l Aprll 2024 Flnandn8 1h At JI M•rth 2025 Cash at bank and In hand 61,803 78,273 140,076 Net debt 61,803 78.273 140,076 At l Aprll 2023 Fln•ndn8 flows Al 31 March C•sh at b•nk and In hand 9,876 130,0001 120,1241 Sl,927 61,803 Debt due w5thln one year Net debt 8L927 61,803 Page 31
Manthester Collectlve Notss to the Hnancial Statements for the Year Ended 31 March 2025 Durfn8 the yearthe tharlty made the followln8 related party knnsactlons: Abel Selaocoe (Abel Selaocoe Is the partner of Ruth Glbson who was a trustee In the wbrftnandal perfod.) In the prior year he hs been pald É9.OCQ and £2.443 as freelance 11¢ curntor and composer. Hlrlng dedslons are made SenEor Management at •rm's length from the board. At the balance Sheet date the amount due tonrom Abel Selaocoe was £NII12024- £NII). Rosemary Attree (Rosemary Attree Is the partner of trustee Nkk Trylslad) Durlng the year she has been pald £1.263 {2024 - £878) as freelance musKiarL Hlrlno decInS are made by Senlor Management at arm¥ lergth the board. At the balance sheet date the amount due tolfrom Rosemary Attree was £NII12024- £NIII. Helen Gllman (Helen Gllman Is a tntt) Durlng 2023 Helen provlded a loan of £30.OW to the tharlty to asstst wlth cash Ilow. The loan was repald In the prlor flnanclal year. At the balan sheet datethe amount due tofftThn Helw Gllman was £MII (2024- £NiI). Mck Trytsad (Nlck Try85tsd Is a trustee) Durfni the year he has been pald £4,68212024: £4,822) as a celllsL Hlrlng dedslons are made by Senlor Management at aml's length from tr board. At the balance sheet date the •nountdue tolfrom Nk TryNad w•s 112024. £NiD. Ruth GlbsL (Ruth Glbson was a trust In the prfor financlal perfod.) In the prior year was pald £5,631 as fredance 4rf011sL Hlrkng ded5M are made by Senlor Manaiement at arm's lenth from the board. At the balan sfrfftt date the aThuntduetolfrtyn Ruth Gibson was £NII12024- £NII). Sara Marwet Nolan (Sara Margaret NL4an a trustee) Durin8 the year has been paid £3.n3 (2024: £3.8111 as a lISt Hlrln8 decislons I rnade ty Senlor Marta8ement at ami's len8th from the board. At tr balance date the amount due tolfrom Sara Margaret Nolan was £NII12024 -