Charity number: 1170231
MUSIC SUPPORT UK
TRUSTEES' REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
MUSIC SUPPORT UK
CONTENTS
| Page | |
|---|---|
| Reference and administrative details of the Charity, its Trustees and advisers | 1 |
| Trustees' report | 2 - 8 |
| Independent auditors' report on the financial statements | 9 - 11 |
| Statement of financial activities | 12 |
| Balance sheet | 13 |
| Statement of cash flows | 14 |
| Notes to the financial statements | 15 - 28 |
MUSIC SUPPORT UK
REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 MARCH 2023
| Trustees | Matthew Thomas, Chair |
|---|---|
| Rachel Lander | |
| James Kliffen | |
| Anthony Cohen | |
| Andrew Franks | |
| Hugh Gadsdon | |
| Charity registered number 1170231 Principal office C O BKL Chartered Accountants 35 Ballards Lane Finchley London N3 1XW Independent auditors Cohen Arnold New Burlington House 1075 Finchley Road London NW11 0PU Bankers CAF bank 25 Kings Hill Avenue Kent ME19 4JQ |
Page 1
MUSIC SUPPORT UK
TRUSTEES' REPORT FOR THE YEAR ENDED 31 MARCH 2023
The Trustees present their annual report together with the audited financial statements of the Charity for the year 1 April 2022 to 31 March 2023.
Objectives and activities
a. Policies and objectives
The objectives of the charity as per its governing document are:
To provide relief and support to any persons working in the UK music industry or in roles supporting the UK music industry suffering from mental, emotional and behavioural health disorders (including but not limited to alcohol and drug addiction) together with the family and colleagues of such persons, in particular by the provision of counselling and support.
To advance the education of the public in relation to mental, emotional and behavioural health disorders.
• Music Support UK is a UK charity that helps anyone who works in music and live events impacted by mental ill-health and/or addiction (whether you are an A-List artist or a member of the crew)
• We were established in 2016 by veterans of the music industry who had experienced mental health and addiction challenges and recognised the need for specific help and resources for people suffering with these issues
• We encourage prevention through training in Mental Health First Aid and Addiction and Recovery Awareness to arm our peers with the tools to look after the wellbeing of their colleagues (and themselves in the process)
Our services include:
• Our Support Services include a confidential Helpline that is available Monday – Friday 9am – 5pm, managed by peers with lived experience of the highs and lows of working in the industry as well as provision of assessments, treatment and after-care
• We also run Safe Hubs backstage at festivals providing a space for artists and crew to take some time out and speak to Mental Health First Aid trained staff
• We recently launched our new Family & Friends Service, designed to help loved ones (including colleagues) of those supporting someone with problematic drinking, drug use or other addictions
In setting objectives and planning for activities, the Trustees have given due consideration to general guidance published by the Charity Commission relating to public benefit, including the guidance 'Public benefit: running a charity (PB2)'.
Page 2
MUSIC SUPPORT UK
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023
Objectives and activities (continued)
b. Strategies for achieving objectives
Everything we do sits within a strategic framework that has four key elements:
PEER-LED - We believe in the importance and unique perspective that lived experience and industry experience brings to helping people.
CRISIS SUPPORT - We believe that no one should suffer alone, and that everyone should have access to effective support and a continuum of care.
PREVENTION - We believe in that it is vital to improve knowledge, understanding, skills, and confidence about starting a conversation aimed at guiding an individual towards recovery.
COMMUNITY - Connecting people and groups, and co-operating with other agencies where to do so serves the interests of our beneficiaries, and changes culture within our industry.
c. Activities undertaken to achieve objectives
Music Support UK fulfils the objectives detailed above through the delivery of high quality peer-led services that address the need for industry specific crisis support, prevention through education, and building a community of practice that has a positive effect on attitudes and behaviours concerning addiction and mental health.
Alongside peer support we offer supporting to, or funding for, professional or clinical support including psychiatry, psychotherapy and counselling, where necessary.
d. Grant-making policies
Our grant making policy relies on eligibility which is reviewed on a quarterly basis to qualify for funding to access our services. Beneficiaries must meet our broad criteria of being: A professional working in the UK music and/or live events industry Examples:
Musician – including DJ’s Backstage crew (lighting, sound, cameraperson, stage manager, tour manager, security etc Music Manager Music Promoter Artist liaison Music industry professional – marketing, sponsorship, ticketing, touring, finance etc
All individuals must also meet our core criteria of earning 50% of income from Music and or live events and be a UK citizen and:
Be 18 years and over Based in UK Have a UK bank account Registered with a UK GP
e. Volunteers
We work with volunteers who train in Mental Health First Aid and represent the charity as part of our Safe Hub activity at a number of UK Music Festivals.
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MUSIC SUPPORT UK
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023
Objectives and activities (continued)
f. Main activities undertaken to further the Charity's purposes for the public benefit
Helpline – a non-judgemental and confidential listening ear service accessible 9am – 5pm, Monday to Friday via telephone or email, managed by industry peers with lived experience.
Support Services – an all-encompassing support system with signposting and guidance, individual case management and crisis support.
Training – Mental Health First Aid, Mental Health Aware, Self-Awareness and Self-Care Workshop, Line Managers’ Mental Health Aware, and Addiction and Recovery Awareness courses to provide individuals with the tools to look after the wellbeing of their peers (and themselves).
Safe Hubs – a backstage space at festivals where artists and crew can take time out and speak to mental health first aid trained staff.
Achievements and performance
a. Main achievements of the Charity
Our helpline, crisis support and case management services continue to play a crucial role in saving lives and offering hope to beneficiaries in need of support.
From April 2022 – March 2023 we received 265 calls to our helpline. This is a 20% decrease in call inbound volume compared to previous fiscal year. However, we have insights showing that more beneficiaries were opting to get in touch via our helpline email. A review will be undertaken in the first half of 2024 to look at potential gateway solutions to increase engagement and reach of support services.
b. Key performance indicators
Our Learning and development services have grown to incorporate a number of services that are being delivered to diverse groups of individuals from the music industry and through partnerships with key music industry organisations. From April ’22 – March ’23:
81 beneficiaries completed our Addiction and Recovery Workshop. Participants told us:
71% were currently supporting or concerned about an industry colleague/friend who is struggling with problematic alcohol and/or drug use.
16% in recovery or themselves currently struggling with problematic alcohol and/or drug use.
8% had lost a loved one or close work colleague due to addiction.
97% Improved their personal knowledge and understanding about addiction.
96% Improved their confidence in recognising the signs and symptoms of addiction.
96% Improved their personal knowledge of the factors that perpetuate the cycle of addiction.
95% Improved their confidence about starting a conversation aimed at guiding an individual towards recovery.
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MUSIC SUPPORT UK
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023
Achievements and performance (continued)
c. Review of activities
Our activities and services continued to grow in line with insights and we are delivering and developing a greater number of support services than ever before. The current plans for the next year are to continue growing awareness of the charity and build our resources and capacity so we may reach and impact more beneficiaries in all areas of activity.
This includes implementing the agreed structure and services which have been possible by the grant received from the Christopher Meredith Foundation, which providing a bursary fund for residential addiction treatment and engaging a new staff member to commence our new Family and Friends support services. Special thanks to the CMF for this incredibly opportunity.
d. Fundraising activities and income generation
We saw significant growth in our fundraising activity during the financial year, with fundraising activity coming through a number of sources and reaching over 100,000 individuals.
Financial review
a. Going concern
After making appropriate enquiries, the Trustees have a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements.
b. Reserves policy
It is the policy of the charity that unrestricted funds which have not been designated for a specific use should be maintained at a level equivalent to between three and six-month's expenditure. Trustees consider that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the Charity's current activities while consideration is given to ways in which additional funds may be raised.
The company had restricted funds of £71 at 31/03/23. These were held in relation to training and workshops.
c. Principal risks and uncertainties
Trustees have assessed the major risks to which the charity is exposed and are satisfied that systems are in place to mitigate exposure to the major risks.
d. Principal funding
The principal funding of the charity is to provide an all-encompassing support system with confidential Helpline, signposting and guidance, individual case management and crisis support, managed by industry peers with lived experience of the highs and lows of working within music and live events.
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MUSIC SUPPORT UK
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023
e. Review of the year
During the year, Music Support UK raised funds of £1,152,611 (2022: £298,429) and incurred expenditure of £325,406 (2022: £305,461) which left a surplus of £827,205 (2022: Deficit of £7,032). The balance sheet on 31 March 2023 shows the net current assets of £882,321 (2022: £54,026).
This year marks a significant increase in fundraising for the charity, which has been achieved through a variety of individuals and organisations, some of whom have requested to remain publicly anonymous. We would like to acknowledge The BRIT Trust for their continued support and generous grant of £30,000. We also thank all other funders for their tireless efforts and generosity. You know who you are.
Structure, governance and management
a. Constitution
The charity is a charitable incorporation organisation constituted under whose only voting members are its charity trustees It was incorporated on 17 November 2016. The charity was registered with the Charity Commission on the stated date with charity number 1170231.
b. Methods of appointment or election of Trustees
The management of the Charity is the responsibility of the Trustees who are elected and co-opted under the terms of the Trust deed. As set out in the constitution the maximum number of trustees is twelve and the minimum must be at least three. Apart from the first charity trustees, every trustee must be appointed for a term of three years. Trustees can offer themselves for re-election. When selecting individuals for appointment Music Support UK considers their skills, knowledge and experience.
c. Organisational structure and decision-making policies
The trustees who served during the year and up to the date of signature of the financial statements were:
Andrew Franks Matthew Thomas Hugh Gadson Anthony Cohen Rachel Lander James Kliffen
The board of trustees are responsible for the oversight, governance and leadership of the charity. The charity is organised so that the full board of trustees meets four times a year, finance and governance committee meet fortnightly, and occasional sub-committee meetings are carried out as and when required.
Trustees delegate much of the charity's operation to the chief executive, who is appointed and supervised by the board. The chief executive is responsible for the day-to-day management of the organisation and advises the board on operational matters
d. Policies adopted for the induction and training of Trustees
Newly appointed trustees receive written and verbal guidance from the chief executive and trustees about the responsibilities of their role and the objectives, structure and activities of the organisation
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MUSIC SUPPORT UK
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023
Structure, governance and management (continued)
e. Financial risk management
The Trustees have assessed the major risks to which the Charity is exposed, in particular those related to the operations and finances of the Charity, and are satisfied that systems and procedures are in place to mitigate exposure to the major risks.
Plans for future periods
During 2023 the landscape of charitable activity for Music Support UK has seen a significant growth. This has been enhanced and see the charity moving in to a new phase shaped by the vision and dedication of a new and dynamic board and Chief Executive Officer. Through the development of a new strategy Music Support UK will expand its reach to new areas, touching the lives of music communities far and wide. This new approach will pave the way for the charity to embark on a new strategic journey, one that promises to redefine the boundaries of our impact and reach.
Statement of Trustees' responsibilities
The Trustees are responsible for preparing the Trustees' report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
The law applicable to charities in England & Wales requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the Charity and of its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the Trustees are required to:
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select suitable accounting policies and then apply them consistently;
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observe the methods and principles of the Charities SORP (FRS 102);
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make judgments and accounting estimates that are reasonable and prudent;
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state whether applicable UK Accounting Standards (FRS 102) have been followed, subject to any material departures disclosed and explained in the financial statements;
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Charity will continue in business.
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 Charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the Trust deed. 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.
Disclosure of information to auditors
Each of the persons who are Trustees at the time when this Trustees' report is approved has confirmed that:
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so far as that Trustee is aware, there is no relevant audit information of which the charity's auditors are unaware, and
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that Trustee has taken all the steps that ought to have been taken as a Trustee in order to be aware of any relevant audit information and to establish that the charity's auditors are aware of that information.
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MUSIC SUPPORT UK
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023
Auditors
The auditors, Cohen Arnold, have indicated their willingness to continue in office. The designated Trustees will propose a motion reappointing the auditors at a meeting of the Trustees.
Approved by order of the members of the board of Trustees and signed on their behalf by:
................................................ Matthew Thomas Chair
Date: 31/01/2024
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MUSIC SUPPORT UK
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF MUSIC SUPPORT UK
Opinion
We have audited the financial statements of MUSIC SUPPORT UK (the 'charity') for the year ended 31 March 2023 which comprise the Statement of financial activities, the Balance sheet, the Statement of cash flows and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).
The financial statements have been prepared in accordance with Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standards applicable in the UK and Republic of Ireland (FRS 102) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has been withdrawn.
This has been done in order for the accounts to provide a true and fair view in accordance with the Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015.
In our opinion the financial statements:
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give a true and fair view of the state of the charity's affairs as at 31 March 2023 and of its incoming resources and application of resources for the year then ended;
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have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
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have been prepared in accordance with the requirements of the Charities Act 2011.
Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
Conclusions relating to going concern
In auditing the financial statements, we have concluded that the Trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charity's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the Trustees with respect to going concern are described in the relevant sections of this report.
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MUSIC SUPPORT UK
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF MUSIC SUPPORT UK (CONTINUED)
Other information
The other information comprises the information included in the Annual report other than the financial statements and our Auditors' report thereon. The Trustees are responsible for the other information contained within the Annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
Matters on which we are required to report by exception
We have nothing to report in respect of the following matters where the Charities (Accounts and Reports) Regulations 2008 requires us to report to you if, in our opinion:
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the information given in the Trustees' report is inconsistent in any material respect with the financial statements; or
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sufficient accounting records have not been kept; or
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the financial statements are not in agreement with the accounting records and returns; or
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we have not received all the information and explanations we require for our audit.
Responsibilities of trustees
As explained more fully in the Trustees' responsibilities statement, the Trustees are responsible for the preparation of the financial statements which give a true and fair view, and for such internal control as the Trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.
In preparing the financial statements, the Trustees are responsible for assessing the charity's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the Trustees either intend to liquidate the charity or to cease operations, or have no realistic alternative but to do so.
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MUSIC SUPPORT UK
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF MUSIC SUPPORT UK (CONTINUED)
Auditors' responsibilities for the audit of the financial statements
We have been appointed as auditor under section 144 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder.
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an Auditors' report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
-Enquiring of management and those charged with governance around actual and potential litigation and claim -Reviewing board meeting minutes of meetings of those charged with governance;
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Reviewing financial statement disclosures and testing to supporting documentation to assess compliance with applicable laws and regulations;
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Performing audit work over the risk of management override of controls, including testing of journal entries outside the normal course of business and reviewing accounting estimates for bias.
Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our Auditors' report.
Use of our report
This report is made solely to the charity's trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charity's trustees those matters we are required to state to them in an Auditors' report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity and its trustees, as a body, for our audit work, for this report, or for the opinions we have formed.
Cohen Arnold
Cohen Arnold
New Burlington House 1075 Finchley Road London NW11 0PU
Date: 31/01/2024
Cohen Arnold are eligible to act as auditors in terms of section 1212 of the Companies Act 2006.
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MUSIC SUPPORT UK
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2023
| 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 movement in funds Reconciliation of funds: Total funds brought forward Net movement in funds Total funds carried forward |
Restricted funds 2023 £ 16,687 - - 16,687 - 36,726 36,726 (20,039) 20,110 (20,039) 71 |
Unrestricted funds 2023 £ 955,821 95,600 84,503 1,135,924 56,620 232,060 288,680 847,244 36,101 847,244 883,345 |
Total funds 2023 £ 972,508 95,600 84,503 1,152,611 56,620 268,786 325,406 827,205 56,211 827,205 883,416 |
Total funds 2022 £ 210,734 87,695 - 298,429 21,400 284,061 305,461 (7,032) 63,243 (7,032) 56,211 |
|---|---|---|---|---|
The Statement of Financial Activities includes all gains and losses recognised in the year.
The notes on pages 15 to 28 form part of these financial statements.
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MUSIC SUPPORT UK
BALANCE SHEET AS AT 31 MARCH 2023
| Note Fixed assets Tangible assets 12 Current assets Debtors 13 Cash at bank and in hand Creditors: amounts falling due within one year 14 Net current assets Total net assets Charity funds Restricted funds 15 Unrestricted funds 15 Total funds |
674,369 226,466 900,835 (18,514) |
2023 £ 1,095 1,095 882,321 883,416 71 883,345 883,416 |
2,084 62,673 64,757 (10,731) |
2022 £ 2,185 |
|---|---|---|---|---|
| 2,185 54,026 |
||||
| 56,211 | ||||
| 20,110 36,101 |
||||
| 56,211 |
The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by:
Anthony Cohen
................................................ ................................................ Anthony Cohen Matthew Thomas Trustee Chair Date: 31/01/2024
The notes on pages 15 to 28 form part of these financial statements.
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MUSIC SUPPORT UK
STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2023
| Note Cash flows from operating activities Net cash used in operating activities 18 Cash flows from investing activities Proceeds from the sale of tangible fixed assets Change in cash and cash equivalents in the year Cash and cash equivalents at the beginning of the year Cash and cash equivalents at the end of the year 19 The notes on pages 15 to 28 form part of these financial statements |
2023 £ 163,793 - 163,793 62,673 226,466 |
2022 £ (44,153) (3,271) (47,424) 110,097 62,673 |
|---|---|---|
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MUSIC SUPPORT UK
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023
1. General information
Music Support UK is a Charitable Company established on 17th November 2016 by memorandum and articles of Incorporation.
2. Accounting policies
2.1 Basis of preparation of financial statements
The financial statements have been prepared in accordance with the Charities SORP (FRS 102) - 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), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011.
Music Support UK meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.
2.2 Income
All income is recognised once the Charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.
2.3 Expenditure
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use.
Expenditure on raising funds includes all expenditure incurred by the Charity to raise funds for its charitable purposes and includes costs of all fundraising activities events and non-charitable trading.
Expenditure on charitable activities is incurred on directly undertaking the activities which further the Charity's objectives, as well as any associated support costs.
All expenditure is inclusive of irrecoverable VAT.
2.4 Tangible fixed assets and depreciation
Tangible fixed assets costing £500 or more are capitalised and recognised when future economic benefits are probable and the cost or value of the asset can be measured reliably.
Tangible fixed assets are initially recognised at cost. After recognition, under the cost model, tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. All costs incurred to bring a tangible fixed asset into its intended working condition should be included in the measurement of cost.
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MUSIC SUPPORT UK
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023
2. Accounting policies (continued)
2.4 Tangible fixed assets and depreciation (continued)
Depreciation is charged so as to allocate the cost of tangible fixed assets less their residual value over their estimated useful lives, using the straight-line method.
Depreciation is provided on the following basis:
Computer equipment
33% Straight line
2.5 Debtors
Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.
2.6 Cash at bank and in hand
Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.
2.7 Liabilities and provisions
Liabilities are recognised when there is an obligation at the Balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably.
Liabilities are recognised at the amount that the Charity anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.
Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised in the Statement of financial activities as a finance cost.
2.8 Financial instruments
The Charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.
3. Income from donations and legacies
| Restricted | Unrestricted | Total | |
|---|---|---|---|
| funds | funds | funds | |
| 2023 | 2023 | 2023 | |
| £ | £ | £ | |
| Donations | 16,687 | 955,821 | 972,508 |
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MUSIC SUPPORT UK
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023
3. Income from donations and legacies (continued)
| Restricted | Unrestricted | Total | |
|---|---|---|---|
| funds | funds | funds | |
| 2022 | 2022 | 2022 | |
| £ | £ | £ | |
| Donations | 56,987 | 153,747 | 210,734 |
4. Income from charitable activities
| Supporting UK musicians Supporting UK musicians |
Unrestricted funds 2023 £ 95,600 Unrestricted funds 2022 £ 87,695 |
Total funds 2023 £ 95,600 |
|---|---|---|
| Total funds 2022 £ 87,695 |
5. Income from other trading activities Income from fundraising events
| Unrestricted | Total | Total | |
|---|---|---|---|
| funds | funds | funds | |
| 2023 | 2023 | 2022 | |
| £ | £ | £ | |
| Auctions | 84,503 | 84,503 | - |
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MUSIC SUPPORT UK
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023
6. Expenditure on raising funds
Costs of raising voluntary income
| Unrestricted funds 2023 £ Fundraising consultant 9,912 Event costs 1,033 Marketing specialist 45,675 56,620 Unrestricted funds 2022 £ Fundraising agents 14,393 Other fundraising costs 7,007 21,400 |
Total funds 2023 £ 9,912 1,033 45,675 |
|---|---|
| 56,620 | |
| Total funds 2022 £ 14,393 7,007 |
|
| 21,400 |
7. Analysis of expenditure on charitable activities
Summary by fund type
| Restricted | Unrestricted | ||
|---|---|---|---|
| funds | funds | Total | |
| 2023 | 2023 | 2023 | |
| £ | £ | £ | |
| Supporting UK musicians | 36,726 | 232,060 | 268,786 |
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MUSIC SUPPORT UK
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023
7. Analysis of expenditure on charitable activities (continued)
Summary by fund type (continued)
| Restricted | Unrestricted | ||
|---|---|---|---|
| funds | funds | Total | |
| 2022 | 2022 | 2022 | |
| £ | £ | £ | |
| Supporting UK musicians | 43,878 | 240,183 | 284,061 |
8. Analysis of expenditure by activities
| Supporting UK musicians Supporting UK musicians |
Activities undertaken directly 2023 £ 205,735 Activities undertaken directly 2022 £ 213,457 |
Support costs 2023 £ 63,051 Support costs 2022 £ 70,604 |
Total funds 2023 £ 268,786 |
|---|---|---|---|
| Total funds 2022 £ 284,061 |
Page 19
MUSIC SUPPORT UK
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023
8. Analysis of expenditure by activities (continued)
Analysis of direct costs
| Staff costs Helpline Safe tent Workshop Therapeutic software Staff training Staff costs Workshop Therapeutic software Staff training |
Supporting UK musicians 2023 £ 177,986 5,582 8,026 10,399 2,480 1,262 205,735 Supporting UK musicians 2022 £ 172,475 27,865 10,537 2,580 213,457 |
Total funds 2023 £ 177,986 5,582 8,026 10,399 2,480 1,262 |
|---|---|---|
| 205,735 | ||
| Total funds 2022 £ 172,475 27,865 10,537 2,580 |
||
| 213,457 |
Page 20
MUSIC SUPPORT UK
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023
8. Analysis of expenditure by activities (continued)
Analysis of support costs
| Staff costs Office Travel and subsistence Marketing Legal and Professional Bank Charges Governance costs Staff entertainment Total 2023 |
Supporting UK musicians 2023 £ 25,096 12,114 7,060 11,880 3,469 1,816 1,000 616 63,051 |
Total funds 2023 £ 25,096 12,114 7,060 11,880 3,469 1,816 1,000 616 |
|---|---|---|
| 63,051 |
Governance costs are comprised entirely of the audit fee for the year.
| Staff costs Depreciation Help line Office Memberships & subscription PR, marketing, advertising & websites Legal & professional Bank charges Staff entertainment Total 2022 |
Supporting UK musicians 2022 £ 16,152 2,883 26,099 10,904 527 9,132 3,955 846 106 70,604 |
Total funds 2022 £ 16,152 2,883 26,099 10,904 527 9,132 3,955 846 106 |
|---|---|---|
| 70,604 |
Page 21
MUSIC SUPPORT UK
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023
9. Auditors' remuneration
| 2023 | 2022 | |
|---|---|---|
| £ | £ | |
| Fees payable to the Charity's auditor for the audit of the Charity's annual | ||
| accounts | 4,800 | - |
| Fees payable to the Charity's auditor in respect of: | ||
| Independent Examination fee | - | 900 |
10. Staff costs
| Wages and salaries Social security costs Contribution to defined contribution pension schemes |
2023 £ 224,911 18,651 5,195 248,757 |
2022 £ 172,475 13,850 2,302 |
|---|---|---|
| 188,627 |
The average number of persons employed by the Charity during the year was as follows:
| 2023 | 2022 | |
|---|---|---|
| No. | No. | |
| Employees | 6 | 5 |
The number of employees whose employee benefits (excluding employer pension costs) exceeded £60,000 was:
| 2023 | 2022 | ||
|---|---|---|---|
| No. | No. | ||
| In the band £60,001 | - £70,000 | 1 | 1 |
11. Trustees' remuneration and expenses
During the year, no Trustees received any remuneration or other benefits (2022 - £NIL) .
During the year ended 31 March 2023, no Trustee expenses have been incurred (2022 - £NIL) .
Page 22
MUSIC SUPPORT UK
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023
12. Tangible fixed assets
| Cost or valuation At 1 April 2022 At 31 March 2023 Depreciation At 1 April 2022 Charge for the year At 31 March 2023 Net book value At 31 March 2023 At 31 March 2022 13. Debtors Due within one year Other debtors Prepayments and accrued income 14. Creditors: Amounts falling due within one year Trade creditors Other taxation and social security Other creditors Accruals and deferred income |
2023 £ - 674,369 |
Computer equipment £ 12,006 12,006 9,821 1,090 10,911 1,095 2,185 2022 £ 1,000 1,084 |
|
|---|---|---|---|
| 674,369 | 2,084 | ||
| 2023 £ 6,154 5,427 - 6,933 |
2022 £ - 5,571 4,260 900 |
Page 23
MUSIC SUPPORT UK
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023
14. Creditors: Amounts falling due within one year (continued)
| 2023 £ 18,514 |
2022 £ |
|---|---|
| 10,731 |
Page 24
MUSIC SUPPORT UK
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023
15. Statement of funds
Statement of funds - current year
| Unrestricted funds General Funds - all funds Restricted funds Addiction MHFA Treatment Total of funds Statement of funds - prior year Unrestricted funds General Funds - all funds Restricted funds Addiction MHFA Treatment Total of funds |
Balance at 1 April 2022 £ 36,101 10,624 8,467 1,019 20,110 56,211 Balance at 1 April 2021 £ 56,243 - - - - 56,243 |
Income £ 1,135,924 - 16,687 - 16,687 1,152,611 Income £ 241,442 29,722 11,200 16,065 56,987 298,429 |
Expenditure £ (288,680) (10,624) (26,102) - (36,726) (325,406) Expenditure £ (261,584) (19,098) (2,733) (15,046) (36,877) (298,461) |
Balance at 31 March 2023 £ 883,345 - (948) 1,019 71 883,416 Balance at 31 March 2022 £ 36,101 10,624 8,467 1,019 20,110 56,211 |
|---|---|---|---|---|
Page 25
MUSIC SUPPORT UK
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023
16. Summary of funds
Summary of funds - current year
| General funds Restricted funds Summary of funds - prior year General funds Restricted funds |
Balance at 1 April 2022 £ 36,101 20,110 56,211 Balance at 1 April 2021 £ 56,243 - 56,243 |
Income £ 1,135,924 16,687 1,152,611 Income £ 241,442 56,987 298,429 |
Expenditure £ (288,680) (36,726) (325,406) Expenditure £ (261,584) (36,877) (298,461) |
Balance at 31 March 2023 £ 883,345 71 |
|---|---|---|---|---|
| 883,416 | ||||
| Balance at 31 March 2022 £ 36,101 20,110 |
||||
| 56,211 |
17. Analysis of net assets between funds
Analysis of net assets between funds - current year
| Tangible fixed assets Current assets Creditors due within one year Total |
Restricted funds 2023 Unrestricted funds 2023 £ £ - 1,095 71 900,764 - (18,514) 71 883,345 |
Total funds 2023 £ 1,095 900,835 (18,514) 883,416 |
|---|---|---|
Page 26
MUSIC SUPPORT UK
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023
17. Analysis of net assets between funds (continued)
Analysis of net assets between funds - prior year
| Tangible fixed assets Current assets Creditors due within one year Total |
Restricted funds 2022 £ - 20,110 - 20,110 |
Unrestricted funds 2022 £ 2,185 44,647 (10,731) 36,101 |
Total funds 2022 £ 2,185 64,757 (10,731) 56,211 |
|---|---|---|---|
18. Reconciliation of net movement in funds to net cash flow from operating activities
| Net income/expenditure for the year (as per Statement of Financial Activities) Depreciation charges Decrease/(increase) in debtors Increase/(decrease) in creditors Net cash provided by/(used in) operating activities Analysis of cash and cash equivalents Cash in hand Total cash and cash equivalents |
2023 £ 827,205 1,090 (672,285) 7,783 163,793 2023 £ 226,466 226,466 |
2022 £ (7,032) 2,883 3,317 (43,321) (44,153) 2022 £ 62,673 62,673 |
|---|---|---|
19. Analysis of cash and cash equivalents
Page 27
MUSIC SUPPORT UK
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023
20. Analysis of changes in net debt
| Cash at bank and in hand | At 1 April 2022 £ 62,673 62,673 |
Cash flows £ 163,793 163,793 |
At 31 March 2023 £ 226,466 |
|---|---|---|---|
| 226,466 |
21. Related party transactions
The Charity has not entered into any related party transaction during the year, nor are there any outstanding balances owing between related parties and the Charity at 31 March 2023.
Page 28
Final Audit Report 2024-01-31
Music Support UK 2023 Accounts to Sign
Created: 2024-01-31 By: External Accounts BKL (externalaccounts@bkl.co.uk) Status: Signed Transaction ID: CBJCHBCAABAAl92dSvhIvuIHmgWIwZcF_21z7MrQTdzK
"Music Support UK 2023 Accounts to Sign" History
Document created by External Accounts BKL (externalaccounts@bkl.co.uk)
2024-01-31 - 13:36:42 GMT- IP address: 193.17.86.240
Document emailed to anthony.cohen@bkl.co.uk for signature
2024-01-31 - 13:37:32 GMT
Email viewed by anthony.cohen@bkl.co.uk
2024-01-31 - 14:17:33 GMT- IP address: 104.47.11.126
- Signer anthony.cohen@bkl.co.uk entered name at signing as Anthony Cohen
2024-01-31 - 14:18:56 GMT- IP address: 31.121.171.20
- Document e-signed by Anthony Cohen (anthony.cohen@bkl.co.uk)
Signature Date: 2024-01-31 - 14:18:58 GMT - Time Source: server- IP address: 31.121.171.20
Document emailed to davidgoldberg@cohenarnold.com for signature 2024-01-31 - 14:18:59 GMT
Email viewed by davidgoldberg@cohenarnold.com
2024-01-31 - 14:32:24 GMT- IP address: 83.244.236.108
Signer davidgoldberg@cohenarnold.com entered name at signing as Cohen Arnold 2024-01-31 - 14:33:15 GMT- IP address: 83.244.236.108
Document e-signed by Cohen Arnold (davidgoldberg@cohenarnold.com) Signature Date: 2024-01-31 - 14:33:17 GMT - Time Source: server- IP address: 83.244.236.108
Agreement completed.
2024-01-31 - 14:33:17 GMT