## **North West Music Academy Limited**
**(A company limited by guarantee)**
## **Annual Report and Financial Statements**
## **30 November 2023**
**Company registration number: 09863784 Charity registration number: 1174325**
## **North West Music Academy Limited**
## **Contents**
|Reference and Administrative Details|1|
|---|---|
|Trustees' report|2|
|Trustees' responsibilities in relation to the financial statements|14|
|Independent examiner's report|15|
|Statement of financial activities|16|
|Balance sheet|17|
|Notes to the financial statements|18|
## **North West Music Academy Limited Reference and Administrative Details**
**Charity name** North West Music Academy Limited **Charity registration number** 1174325 **Company registration number** 09863784 **Principal office** 125 Duke Street BARROW-IN-FURNESS LA14 1XA **Registered office** 125 Duke Street BARROW-IN-FURNESS LA14 1XA **Trustees** D Milledge L A Faulkner M K Borgia (Resigned 4 February 2024) E Howarth (Appointed 4 February 2024) R Z A Qazi (Appointed 12 October 2023) A Callister (Resigned 8 November 2023)
## **Accountant**
Dodd & Co Limited FIFTEEN Rosehill Montgomery Way Rosehill Estate CARLISLE CA1 2RW
Page 1
**North West Music Academy Limited Trustees’ Report For year ended November 30th 2023**
## WELCOME TO NORTH WEST MUSIC ACADEMY
## **LEGAL & ADMINISTRATIVE INFORMATION**
Registered Office: 125 Duke St Barrow-in-Furness LA14 1XA
Trustees: Deborah Milledge Lesley Faulkner Emma Howarth Robert Zafar Aziz Qazi Mary Borgia (resigned 4.2.24) Anthony Callister (resigned 8.11.24)
Independent Examiner: Dodd & Co Limited Fifteen Rosehill Carlisle CA1 2RW
Charity: 1174325 Company: 09863784
**----- Start of picture text -----**
Learn to Play Day - Barrow Music Week
**----- End of picture text -----**
3
_**Beginner Harps**_
The trustees present their annual report and financial statements for the year ended 30 November 2023.
The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity’s Memorandum and Articles of Association, the Companies Act 2006 and “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)”.
Objectives and activities
The charity’s objectives are for the public benefit:
- To promote the musical & arts education of young people in & around the Furness peninsula through the provision of learning & performing opportunities.
- To provide or assist in the provision of facilities in the interests of social welfare for recreation or other leisure time occupation with the object of improving the conditions of life for residents on the Furness peninsula & in particular young people in need by reason of youth.
Activities have been undertaken for public benefit in relation to these objectives.
The Trustees confirm that they have had due regard to the Charity Commission’s published guidance on the ‘public benefit’ notice. The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake.
4
## **Directors Statement**
After several months of searching, with help from Barrow Heritage Action Zone and via a private philanthropic loan, NWMA purchased our four storey venue in March 2023. We immediately set to work on fulÞlling our stated aims and objectives to beneÞt the people of Barrow & Furness."
In the same month, South Lakes Rock School moved into Floor 1 on leasehold which has enabled us to cover the necessary running costs of the building, whilst gradually building up our NWMA activities and events. The charity is currently run by trustee-directors on a voluntary basis."
Highlights of the year to November 2023 include:"
The opening of the NWMA Classical Academy in September 2023, delivering instrumental & vocal lessons on Floor 2 to people from across age and ability groups. "
Several 'sell out' performance events with live music with ticket costs kept at an a%ordable price"
The launch of Barrow Posh Choir a day time choir for adults of all ages & abilities"
The vast amount of support from the locality and donations of instruments, sheet music & equipment."
Looking ahead to next year, we will be seeking funding for a building feasibility study, expanding our o%er of instrumental & vocal tuition alongside the development of a concert programme.
5
_**Rooftop View - Cumbria Access & Maintenance**_
Education + Workshops
Performances + Events
**South Lakes Rock School move into Floor 1 delivering instrumental & vocal lessons from age 5 to adult**
## **MARCH 2023**
**Launch of Absolute Beginners Harp Group. Basic harp technique on revolutionary cardboard harps! Jazz Choir Workshop**
## **APRIL**
## **MAY**
**Bi-Monthly 'Limelight' Classical 'open mic' events commence featuring acoustic music, singing & spoken word**
**Visit by Arts Council England & Royal Liverpool Philharmonic Orchestra International Women's Day with Live Music & Community Singing**
**Gin + Jazz Live Music event**
**Historic England visit and recording at NWMA**
## **JUNE**
**Harps North West Summer Harp Day - workshops & performance**
## **JULY**
**NWMA Summer School for age 8-12 'Shake, Rattle & Roll'**
## **AUGUST**
**Launch of Classical Academy at NWMA. Instrumental and vocal lessons for students of all ages & backgrounds**
## **SEPTEMBER**
**Vocal & Instrumental Taster 'free taster' days**
**Launch of Barrow Posh Choir - daytime rehearsals & music from the popular classical repertoire**
**NWMA at Barrow Music 3 Schools Conference Barrow Music 3 Industry Conference at NWMA Learn to Play Day (Music for All)** 6
**OCTOBER**
@The Academy
125 Dvk• Slrnét, Borrow IA14 IKA
TO PLAY,
NORTH WEST Music ACADEMY
FurDdSS'I Vtouth¢ p•rforthuD¢• •VErtt h05 ts p•rmun•nt homo 01
North W•lt Mu*l¢ A
Facilities for South Lakes Rock School with over 70 young people
receiving weekly music tuition
3 sell out Summer School &
events with Classical Academy
180 people of providing music
Launch of RSL Level 4
all ages education &
Professional Diploma in
enjoying live performance
Teaching with 5
music for opportunities 15
students enrolled
recreation young people
**----- End of picture text -----**
## **Financial Review**
The results for the year are summarised in the Statement of Financial Activities (income and expenditure account)."
The trustees recognise the importance of maintaining a realistic level of reserves in order to ensure that North West Music Academy continues to be in a position to discharge its obligations. The reserves policy is reviewed annually by trustees to take into account risk and sustainability of the organisation. "
In March 2023 the trustees redeÞned$ the reserves target such that unrestricted general funds, excluding designated funds, are required to be at least equal to 3 monthsÕ cover of core costs to be held in the form of cash at bank."
The trustees have considered the major risks to which the charity is exposed and have implemented review systems to mitigate these risks. "
The major risks are currently identiÞed as: "
& Reliance on short term charitable grants income "
& Reliance on a sole leaseholder as main income source. "
& Critical impact of the loss of key trustee/ directors"
To mitigate these risks the charity will: "
& Ensure that it has a diverse funding proÞle without an over-reliance on any one source of funding; "
& Review existing and potential ways of generating earned income and works towards Þnancial sustainability; "
& Maintain and enhance relationships with key funders and stay informed about developments in the arts funding; "
& Invest time and e%ort in the exploration of funding opportunities and Þnancial partnerships; and "
& Ensures that all trustees/directors are well supported and that there is a regular appraisal of skills, roles and shared responsibilities within the team"
12
## **STRUCTURE,GOVERNANCE & MANAGEMENT**
The charity is a company limited by guarantee, not having share capital, and is governed by Memorandum and Articles of Association dated 13 July 2017, as amended. ItÕs company registered number is 09863784. The company is a registered charity with a charity number 1174325.
The trustees, who are also the directors for the purpose of company law, and who served during the year and up to the date of signature of the Þnancial statements were:
**Deborah Milledge Lesley Faulkner Emma Howarth**
**Robert Zafar Aziz Qazi Mary Borgia (resigned 4.2.24)**
**Anthony Callister (resigned 8.11.23)**
The Board consists of people with considerable interest and experience in music, who are able to draw on their past experiences at a senior level in relevant disciplines.
None of the trustees has any beneÞcial interest in the company. All of the trustees are members of the company and guarantee to contribute £1 in the event of a winding up.
The trusteesÕ report was approved by the Board of Trustees.
**L. Faulkner (Trustee/Director) Dated Aug 13th 2024**
13
## **North West Music Academy Limited**
## **Trustees' Responsibilities in relation to the Financial Statements**
The trustees (who are also directors of North West Music Academy Limited for the purposes of company law) are responsible for preparing the Trustees' Annual Report and the financial statements in accordance with applicable law and the Financial Reporting Standard 102 - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
Company law 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 charitable company and of the incoming resources and application of resources, including income and expenditure, of the charitable company for that period. In preparing these financial statements, the trustees are required to:
- select suitable accounting policies and then apply them consistently;
- observe the methods and principles in the Charities SORP;
- make judgements and estimates that are reasonable and prudent;
- state whether applicable UK accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business.
The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Page 14
## **Independent Examiner's Report to the Trustees of**
## **North West Music Academy Limited**
I report on the accounts of the company for the year ended 30 November 2023, which are set out on pages 16 to 26.
## **Respective responsibilities of trustees and examiner**
The trustees (who are also the directors of the company for the purposes of company law) are responsible for the preparation of the accounts. The trustees consider that an audit is not required for this year under section 144(2) of the Charities Act 2011 as amended by the Charities Act 2022 (the Act) and that an independent examination is needed.
Having satisfied myself that the charity is not subject to audit under Part 16 of the Companies Act 2006 and is eligible for independent examination, it is my responsibility to:
- examine the accounts under section 145 of the Act;
- follow the procedures laid down in the General Directions given by the Charity Commission under section 145 (5) (b) of the Act; and
- state whether particular matters have come to my attention.
## **Basis of independent examiner's report**
My examination was carried out in accordance with the General Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and consequently no opinion is given as to whether the accounts present a 'true and fair view' and the report is limited to those matters set out in the statement below.
## **Independent examiner's statement**
In connection with my examination, no matter has come to my attention:
- (1) which gives me reasonable cause to believe that in any material respect the requirements:
- to keep accounting records in accordance with section 386 of the Companies Act 2006; and
- to prepare accounts which accord with the accounting records, comply with the accounting requirements of section 396 of the Companies Act 2006 and with the methods and principles of the Statement of Recommended Practice: Accounting and Reporting by Charities
have not been met; or
- (2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
......................................... Joanne Thomlinson FCA Dodd & Co Limited Chartered Accountants
FIFTEEN Rosehill Montgomery Way Rosehill Estate CARLISLE CA1 2RW
13 August 2024
Page 15
## **North West Music Academy Limited**
## **Statement of Financial Activities (including Income and Expenditure Account ) for the Year Ended 30 November 2023**
|||**Unrestricted**|**Restricted**|**Total Funds**|**Total Funds**|
|---|---|---|---|---|---|
|||**Funds**|**Funds**|**2023**|**2022**|
||**Note**|**£**|**£**|**£**|**£**|
|**Income and endowments from:**||||||
|Donations and legacies|2|19,110|8,500|27,610|-|
|Charitable activities|3|6,325|-|6,325|-|
|Other income|4|16,347|-|16,347|-|
|Total income and endowments||41,782|8,500|50,282|-|
|**Expenditure on:**||||||
|Charitable activities||27,440|700|28,140|-|
|Total expenditure||27,440|700|28,140|-|
|**Reconciliation of funds**||||||
|Total funds carried forward||14,342|7,800|22,142|-|
|||||||
All of the Charity's activities derive from continuing operations during the above periods.
The notes on pages 18 to 26 form an integral part of these financial statements.
Page 16
## **North West Music Academy Limited**
## **Company registration number: 09863784**
## **Balance Sheet as at 30 November 2023**
|**Note**
**Fixed assets**
Tangible assets
9
**Current assets**
Cash at bank and in hand
**Creditors: Amounts falling due within**
**one year**
10
**Net current liabilities**
**Total assets less current liabilities**
**Creditors: Amounts falling due after**
**more than one year**
11
**Net assets/(liabilities)**
**The funds of the charity:**
**Restricted funds**
**Unrestricted funds**
Unrestricted income funds
**Total charity funds**|**2023**
**£**
**£**
213,553
12,069
(16,813)
(4,744)
208,809
(186,667)
22,142
7,800
14,342
22,142|**2023**
**£**
**£**
213,553
12,069
(16,813)
(4,744)
208,809
(186,667)
22,142
7,800
14,342
22,142|**2022**
**£**
**£**
-
-
-
-
-
-
-
-
-
-|**2022**
**£**
**£**
-
-
-
-
-
-
-
-
-
-|
|---|---|---|---|---|
||||||
|||208,809
(186,667)||-
-|
|||22,142||-|
|||7,800
14,342
22,142||-
-|
|||||-|
For the financial year ended 30 November 2023, the charity was entitled to exemption from audit under section 477 of the Companies Act 2006.
The members have not required the charity to obtain an audit of its accounts for the year in question in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
Approved by the Board on 13 August 2024 and signed on its behalf by:
## **LA FAULKNER**
.........................................
L A Faulkner Trustee
The notes on pages 18 to 26 form an integral part of these financial statements.
Page 17
## **North West Music Academy Limited**
## **Notes to the Financial Statements for the Year Ended 30 November 2023**
## **1 Accounting policies**
## **Summary of significant accounting policies and key accounting estimates**
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
## **Statement of compliance**
The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.
## **Basis of preparation**
The charitable company 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 notes.
## **Going concern**
These financial statements have been prepared on a going concern basis.
The trustees assess whether the use of going concern is appropriate i.e. whether there are any material uncertainties related to events or conditions that may cast significant doubt on the ability of the Charity to continue as a going concern. The trustees make this assessment in respect of a period of one year from the date of approval of the financial statements.
## **Fund accounting policy**
Unrestricted income funds are general funds that are available for use at the trustees' discretion in furtherance of the objectives of the charity.
Restricted income funds are those donated for use in a particular area or for specific purposes, the use of which is restricted to that area or purpose.
Further details of each fund are disclosed in note 14.
Page 18
## **North West Music Academy Limited**
## **Notes to the Financial Statements for the Year Ended 30 November 2023**
_......... continued_
## **Income and endowments**
Donations are recognised when the Charity has been notified in writing of both the amount and settlement date. In the event that a donation is subject to conditions that require a level of performance by the Charity before the Charity is entitled to the funds, the income is deferred and not recognised until either those conditions are fully met, or the fulfilment of those conditions is wholly within the control of the Charity and it is probable that these conditions will be fulfilled in the reporting period.
Legacy gifts are recognised on a case by case basis following the grant of probate when the administor/executor for the estate has communicated in writing both the amount and settlement date. In the event that the gift is in the form of an asset other than cash or a financial asset traded on a recognised stock exchange, recognition is subject to the value of the gift being reliably measured with a degree of reasonable accuracy and the title to the asset having been transferred to the Charity.
Income from Government and other grants, whether ‘capital’ grants or ‘revenue’ grants, is recognised when the charity has entitlement to the funds, any performance conditions attached to the grants have been met, it is probable that the income will be received and the amount can be measured reliably and is not deferred.
Gifts in kind are recognised in different ways dependent on how they are used by the charity:
(i) Those donated for resale produce income when they are sold. They are valued at the amount actually realised.
(ii) Those donated for onward transmission to beneficiaries are included in the statement of financial activities as incoming resources and resources expended when they are distributed. They are valued at the amount the charity would have had to pay to acquire them.
(iii) Those donated for use by the Charity itself are included when receivable. They are valued at the amount the Charity would have had to pay to acquire them.
Income from charitable activities includes income recognised as earned (as the related goods or services are provided) under contract.
## **Expenditure**
Liabilities are recognised as soon as there is a legal or constructive obligation committing the charity to the expenditure. All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category.
Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.
## **Support costs**
Support costs include central functions and have been allocated to activity cost categories on a basis consistent with the use of resources, for example, allocating property costs by floor areas, or per capita, staff costs by the time spent and other costs by their usage.
## **Taxation**
The Charity is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the Charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes.
## **Fixed assets**
Individual fixed assets costing £100 or more are initially recorded at cost.
Page 19
## **North West Music Academy Limited**
## **Notes to the Financial Statements for the Year Ended 30 November 2023**
_......... continued_
## **Depreciation**
Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:
Land and buildings 2% straight line basis Fixtures, fittings and equipment 15% reducing balance basis
## **Cash and Cash Equivalents**
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
## **Liabilities**
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the Charity does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.
## **2 Donations and legacies**
|**Donations and legacies**
Donations
Donated assets for use by the charity
**Grants**
Cumbria Community Foundation
Sir John Fisher Foundation|**Unrestricted**
**Funds**
**£**
**Restricted**
**Funds**
**£**
**Total Funds**
**2023**
**£**
**Total Funds**
**2022**
**£**
500
-
500
-
18,610
-
18,610
-
19,110
-
19,110
-
-
1,000
1,000
-
-
7,500
7,500
-
-
8,500
8,500
-
19,110
8,500
27,610
-|
|---|---|
## **3 Charitable activities**
||**Unrestricted**|**Restricted**||**Total Funds**|**Total Funds**|
|---|---|---|---|---|---|
||**Funds**|**Funds**||**2023**|**2022**|
||**£**|**£**||**£**|**£**|
|Event and workshop income|6,325||-|6,325|-|
Page 20
## **North West Music Academy Limited**
## **Notes to the Financial Statements for the Year Ended 30 November 2023**
_......... continued_
## **4 Other income**
|Room hire
Other income|**Unrestricted**
**Funds**
**£**
**Restricted**
**Funds**
**£**
**Total Funds**
**2023**
**£**
**Total Funds**
**2022**
**£**
16,112
-
16,112
-
235
-
235
-
16,347
-
16,347
-|
|---|---|
## **5 Expenditure**
|**Direct costs**
Purchases
Event and workshop expenditure
Rent and rates
Water rates
Light, heat and power
Insurance
Depreciation of freehold property
Depreciation of fixtures and fittings
**Support costs**
Repairs and maintenance
Printing, postage and stationery
Sundry expenses
Advertising
Accountancy fees
Independent examiner's fee
Legal and professional fees
Bank charges
Loan interest|**Musical**
**activities**
**Total**
**2023**
**Total**
**2022**
**£**
**£**
**£**
1,800
1,800
-
2,479
2,479
-
181
181
-
675
675
-
4,411
4,411
-
3,005
3,005
-
2,738
2,738
-
1,432
1,432
-
16,721
16,721
-
1,890
1,890
-
76
76
-
6,856
6,856
-
50
50
-
750
750
-
450
450
-
265
265
-
15
15
-
1,067
1,067
-
11,419
11,419
-
28,140
28,140
-|
|---|---|
Page 21
## **North West Music Academy Limited**
## **Notes to the Financial Statements for the Year Ended 30 November 2023**
_......... continued_
## **6 Governance costs**
|Accountancy fees
Independent examiner's fee
Legal and professional fees|**2023**
**2022**
**£**
**£**
750
-
450
-
265
-
1,465
-|
|---|---|
## **7 Trustees' remuneration and expenses**
Expenses of £1,731 were paid to four trustees in the year in relation to events and workshop teaching and reimbursement of postage and sundry items.
## **8 Taxation**
The company is a registered charity and is, therefore, exempt from taxation on income and gains.
Page 22
## **North West Music Academy Limited**
## **Notes to the Financial Statements for the Year Ended 30 November 2023**
_......... continued_
## **9 Tangible fixed assets**
|**Cost**
Additions
**Depreciation**
Charge for the year
**Net book value**
As at 30 November 2023|**Land and**
**buildings**
**£**
204,998
2,738
202,260|**Fixtures,**
**fittings and**
**equipment**
**£**
12,725
1,432
11,293|**Total**
**£**
217,723
4,170
213,553|
|---|---|---|---|
## **10 Creditors: Amounts falling due within one year**
|**2023**
**£**
Trade creditors
2,613
Other creditors
13,000
Accruals and deferred income
1,200
16,813
**Creditors: Amounts falling due after more than one year**
**2023**
**£**
Other creditors
186,667
Included in the creditors are the following amounts due after more than 5 years:
**2023**
**£**
After more than five years by instalments
154,667|**2022**
**£**
-
-
-|
|---|---|
||-|
||**2022**
**£**
-|
||**2022**
**£**
-|
## **11 Creditors: Amounts falling due after more than one year**
Page 23
## **North West Music Academy Limited**
## **Notes to the Financial Statements for the Year Ended 30 November 2023**
_......... continued_
## **12 Members' liability**
The charity is a private company limited by guarantee and consequently does not have share capital. Each of the members is liable to contribute an amount not exceeding £1 towards the assets of the charity in the event of liquidation.
## **13 Related parties**
## **Controlling entity**
The charity is controlled by the trustees who are all directors of the company.
## **Related party transactions**
L A Faulkner is the owner of South Lakes Rock School and paid £15,742 to the charity for room hire.
## **Trustees' advances**
The following balances owed to the trustees were outstanding at the year end:
|D Milledge (property loan)
D Milledge (other loan)|**2023**
**£**
194,667
5,000
199,667|**2022**
**£**
-
-|
|---|---|---|
|||-|
The first loan was provided to the charity to purchase the property in which it operates from. The loan has a flat interest rate of 2% and will be paid back over 25 years.
The second loan of £5,000 is an interest free amount which was provided to help cover legal costs in relation to the property purchase discussed above.
Page 24
## **North West Music Academy Limited**
## **Notes to the Financial Statements for the Year Ended 30 November 2023**
_......... continued_
## **14 Analysis of funds**
|**General Funds**
Unrestricted income fund
**Restricted Funds**
Cumbria Community Fund
Sir John Fisher Foundation|**Incoming**
**resources**
**£**
41,782
1,000
7,500
8,500
50,282|**Resources**
**expended**
**£**
(27,440)
(604)
(96)
(700)
(28,140)|**At 30**
**November**
**2023**
**£**
14,342
396
7,404
7,800
22,142|
|---|---|---|---|
Cumbria Community Fund - grant funding to purchase instruments for the Orchestral Academy. The grant is to be spent within twelve months from the date of the award or the start date of the project.
Sir John Fisher fund - grant fudning to purchase instruments for the Orchestral Academy. The grant is valid for twelve months and must be fully spent by May 2024.
## **Prior period**
|**General Funds**
Unrestricted income fund
**Restricted Funds**|**At 1 Dec**
**2021**
**£**
-|**Incoming**
**resources**
**£**
-
-|**Resources**
**expended**
**£**
-|**At 30 Nov**
**2022**
**£**
-
-
-|
|---|---|---|---|---|
||-|-|-||
||-|-|-||
||-|-|-||
Page 25
## **North West Music Academy Limited**
## **Notes to the Financial Statements for the Year Ended 30 November 2023**
_......... continued_
## **15 Net assets by fund**
|Tangible assets
Current assets
Creditors: Amounts falling due
within one year
Creditors: Amounts falling due
after more than one year
Net assets
**Prior period**
Tangible assets
Current assets
Creditors: Amounts falling due
within one year
Net assets||**Unrestricted**
**Funds**
**£**
213,553
4,269
(16,813)
(186,667)
14,342
**Unrestricted**
**Funds**
**£**
-
-
-||**Restricted**
**Funds**
**£**
-
7,800
-
-
7,800
**Restricted**
**Funds**
**£**
-
-
-||**Total Funds**
**2023**
**£**
213,553
12,069
(16,813)
(186,667)
22,142
**Total Funds**
**2022**
**£**
-
-
-||**Total Funds**
**2022**
**£**
-
-
-
-
-
**Total Funds**
**2021**
**£**
-
-
-|
|---|---|---|---|---|---|---|---|---|
||||||||||
||||||||||
|||-||-||-||-|
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