Registered company number: 10941917 Registered charity number: 1176545
Trustees’ Report and Financial Statements
for the year ended 31 December 2024
for
## **NEW PATHS MUSIC LIMITED**
_a charitable company limited by guarantee_
## **NEW PATHS MUSIC LIMITED A CHARITABLE COMPANY LIMITED BY GUARANTEE**
## **CONTENTS OF THE FINANCIAL STATEMENTS For the year ended 31 December 2024**
||**Page**|
|---|---|
|Trustees’ Report|_2 – 8_|
|Independent Examiner’s Report|_9_|
|Statement of Financial Activities|_10_|
|Balance Sheet|_11 - 12_|
|Notes to the Financial Statements|_13 - 22_|
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**NEW PATHS MUSIC LIMITED A CHARITABLE COMPANY LIMITED BY GUARANTEE**
## **TRUSTEES’ REPORT For the year ended 31 December 2024**
## **INTRODUCTION**
The trustees present their annual report together with the financial statements of the charity for the year ended 31 December 2024.
The charity is a registered company, and the trustees are its directors. And so, the report and financial statements have also been prepared to meet the requirements for a directors’ report and accounts for the purposes of company law.
The financial statements have been prepared in accordance with the accounting policies set out in the notes and comply with:
- (a) the charity’s governing document (its Memorandum & Articles of Association);
- (b) the Charities Act 2011;
- (c) the Companies Act 2006; and
- (d) 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 provisions of which the trustees have adopted.
The trustees consider the financial performance of the charity during the year to have been disappointing. The steps taken by the trustees to address the poor financial performance are described on Page 5 and their assessment that the charity remains a going concern is set out on Page 14.
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**NEW PATHS MUSIC LIMITED A CHARITABLE COMPANY LIMITED BY GUARANTEE**
## **TRUSTEES’ REPORT - CONTINUED For the year ended 31 December 2024**
## **OBJECTIVES AND ACTIVITIES**
## **Purpose**
The objects of the charity, as set out in its Articles of Association, are the advancement of the art of music and of education in music by presenting music festivals and music events initially but not exclusively in Beverley, East Riding of Yorkshire.
## **Public benefit**
The charity carries out its purposes for the public benefit and in running the charity the trustees have due regard for the Charity Commission’s guidance on public benefit, including the guide ‘ _Public benefit: running a charity (PB2)_ ’. There is no private benefit obtained as a result of the charity’s activities.
## **Main activity**
The main activity of the charity is to present music festivals in Beverley. In addition to festivals, the charity also carries out other musical projects from time to time (these include delivering education and outreach events, giving concerts, and making music videos).
P a g e | **3**
**NEW PATHS MUSIC LIMITED A CHARITABLE COMPANY LIMITED BY GUARANTEE**
## **TRUSTEES’ REPORT - CONTINUED For the year ended 31 December 2024**
## **ACHIEVEMENTS AND PERFORMANCE**
During the year, the charity presented its thirteenth festival, the 2024 New Paths Spring Festival, which ran 10 – 14 April 2024, featuring 25 exceptional musicians. During the preceding two years, our festivals had taken place in September (the 2022 Beverley Chamber Music Festival and the 2023 New Paths Autumn Festival). In 2024, we re-established the Spring Festival (with which New Paths Music began life) as our main creative vehicle in Beverley.
The resumption of the Spring Festival as the focal point of our year sharpened our clarity of purpose and brought renewed energy to some of the charity’s original activities. For example, an organ education event made a return to the programme after a gap of several years: we hosted the final of the Dame Gillian Weir Messiaen Prize, a competition for undergraduate students at the Royal Birmingham Conservatoire. The exciting event proved popular with festivalgoers and the ongoing collaboration with the Royal Birmingham Conservatoire has been fruitful.
The programme included an array of music by contemporary composers including Ayanna Witter-Johnson, Amanda Feery, Cheryl Frances-Hoad, James MacMillan, Jacobus Kloppers and Edmund Finnis. Particularly notable was the second ever performance of Ian Venables’ Portraits of a Mind. The festival also championed composers whose music is rarely played including Emilie Mayer, Marina Dranishnikova, and Grażyna Bacewicz – alongside those whose music has become better known in recent years – Rebecca Clarke and Lili Boulanger.
Revitalising our core mission boosted impact and relevance:
- Our audience grew by 51% (3,179 seats were taken (prior festival: 2,104)).
- Revenue from the festival grew by 20% from £22,484 in 2023 to £27,016 in 2024.
- The festival grew in scale by 26% from 19 events in 2023 to 24 events in 2024. New events on offer in 2024 included musical yoga and a walk on the Westwood.
- Free events represented one third of the programme (up from 1/5[th] of our offering in 2023).
- The festival won support from Beverley Town Council and The Big Give Trust via its Arts for Impact funding stream.
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**NEW PATHS MUSIC LIMITED A CHARITABLE COMPANY LIMITED BY GUARANTEE**
## **TRUSTEES’ REPORT - CONTINUED For the year ended 31 December 2024**
## **FINANCIAL REVIEW**
## **Results for the year**
The results for the year are set out in the Statement of Financial Activities on page 10. Income for the year was £64,627 (2023: £89,713) and expenditure for the year was £70,185 (2023: £93,731), resulting in a deficit for the year of £5,558 (2023: deficit of £4,018).
The income of the charity for the year was provided, as follows:
(a) 58% from donations (2023: 75%); and
(b) 42% from ticket sales and miscellaneous activities (2023: 25%).
Unfortunately, the charity did not meet its fundraising target for the year and, despite the increase in box office income, the resulting deficit for the year put it into a negative net asset position as at the end of the year. To improve financial stability, the trustees launched a new SUSTAIN fundraising campaign in 2025 which has been well-supported and has eliminated the deficit by March 2026. The turnaround is ongoing and the trustees continue to actively manage the situation.
## **Reserves**
As at 31 December 2024, the charity had used up its reserves and the net negative balance stood at £3,978 (2023: funds of £1,580). Through the SUSTAIN fundraising campaign, reserves have been rebuilt to a positive level.
The trustees have set an amount of £1,500 as a target minimum level of reserves (funds which are freely available) to be maintained. That amount approximates to one year’s governance and support costs and is to cover the estimated costs of an orderly winding up only. It is the trustees’ intention to build up reserves sufficient to enable charitable activities to continue in the event of fundraising targets not being met.
## **Major risks**
The principal financial risk to the charity is the ability to raise sufficient funds to carry out its charitable purpose. The trustees manage this risk by targeted and regular fundraising.
P a g e | **5**
**NEW PATHS MUSIC LIMITED A CHARITABLE COMPANY LIMITED BY GUARANTEE**
## **TRUSTEES’ REPORT - CONTINUED For the year ended 31 December 2024**
## **STRUCTURE, GOVERNANCE AND MANAGEMENT**
## **Governing document**
New Paths Music Limited is a company limited by guarantee governed by its Memorandum & Articles of Association dated 31 August 2017. It is registered as a charity with the Charity Commission. There is currently one member of the charity who has agreed to contribute up to £10 in the event of the charity winding up.
## **Trustees and directors of the charity**
The Chairman and Board Members are trustees for the purposes of charity law and directors for the purposes of company law. All trustees who served during the year and since the end of the year are listed under ‘Reference and Administrative Details’ on page 7.
One third of the board of trustees shall retire by rotation at each annual general meeting. Trustees retiring by rotation may offer themselves for re-appointment.
The trustees have the power to co-opt trustees to the board. Co-opted trustees must retire at the annual general after their appointment and may offer themselves for re-appointment.
Trustee induction and training is carried out as necessary by the incumbent trustees.
All trustees give their time freely and no trustee remuneration was paid during the year.
P a g e | **6**
**NEW PATHS MUSIC LIMITED A CHARITABLE COMPANY LIMITED BY GUARANTEE**
## **TRUSTEES’ REPORT - CONTINUED For the year ended 31 December 2024**
## **REFERENCE AND ADMINISTRATIVE DETAILS**
**Date of incorporation** 1[st] September 2017 **Registered company number** 10941917 (England and Wales) **Registered charity number** 1176545 **Registered office** 48 Mill View Road Beverley East Riding of Yorkshire HU17 0UQ **Trustees** Roland Deller – _Chairman_ Elizabeth Burgess – _Artistic Director_ Claire Eadington Richard Pinel Helen Watson – _appointed on 20[th] September 2024 Former trustees_ David Entwistle – _resigned on 31st May 2025_ **Independent Examiner** Patrick Scargill ACA FCCA Sowerby Chartered Accountants Beckside Court Annie Read Road Beverley East Riding of Yorkshire HU17 0LF
P a g e | **7**
NEW PATHS MUSIC LIMrrED
A CHARABLE COMPANY
LIMrrED BY GUARArifEE
TRUSTEES. REPORT - cowfINUED
For the year ended 31 December 2024
TRUSTEES. RESPONStBILTfY STATEMENr
The trustees (who are also the directors of New Paths Music Limited for the purposes of
company law) are responsible for preparing the Trustees. Annual Report and the financial
statements in accordan with applicable law and United Kingdom Accounting Standards
(United Kingdom Generally Accepted Accounting Practice), including Financial Reporting
Standard 102 The Finanaal 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 the income and expenditure, of
the charitable company for that period. In preparing those financial statements, the trustees
are required to
select suitable accounting policies and then apply them consistently;
observe the methods and prinaples in the Charity SORP.
make judgements and estimates that are reasonable and prudent;
prepare the finanaal 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 which disclose with
rea59rble accuracy at any time the financial position of the charitable company and to
enable them to ensure that the financial statements comply with the Companies Act 2(Kl6.
They are a150 responsible for safeguarding the assets of the charitable company and hence
for takins reasonable steps for the prevention and detection of fraud and other irregulan'ties.
This report has been prepared in accordan with the special provisions of Part 15 of the
Companies Act 2006 relating to small companies.
Approved by order of the board of tnteeS on 26 March 2026 and Sied on its behalf by:
Roland Deller
NEW PATHS MUSIC LIMrrED
A CHARrrABLE COMPANY
LIMrrED BY GUARArifEE
INDEPENDENf EXAMINER'S REPORT
For the year ended 31 December 2024
l Teport to the charity trustees on my examination of the accounts ol the company for the year ended 31
December 2024, which are set out on pages ten to twenty.two.
Responsibilitie¥ and ba8is of report
As the charity'5 trn$lees (and also its dIrecrS for the purposes of COEnpany law) you are respOnTrIe for the
preparation of the aLrounts in accordance with the requirernents of the Companies Art 2006.
Having satisfied myself that the cl)arity is not subiect to audlt under company law and is e]igible for
indepdent examinatioTL I have examined your charity's accounts as TequRred under section 145 of the
Charities Act 2011 ('the ACVI. In carrying out tny examination I have followed the Directions given by the
Charity Commission urkder section 145(5}(b} of the Art.
I have completed my examination. I confirm that no Matte have come to rny atteDtion in connection with the
examination givin8 me cause to be]ieve that in any material respect..
accounting records were not kept a5 required by section 386 of the Companie5 Act 2(M)6' or
the accounts do not accord with those ords. or
the aceounts do not comply with the accounting requirements of section 396 of the Cornparries Art2(KJ6
other thanany requirement that theaccounts give a'true and fair Vie which is nota matter considered
a5 part of an independent exarnlnatio or
the accounts have not iwn prepared in accordan with the methods ad prinaple5 of the State01t
of Recoznrnended Practice for accounling and reporting by charities app]icable to cEwities prepariDS
their accounts in accordance with the Financial Reporting Standard applicable in the UK and Repub]ic
of Ireland IFBSI(12}.
Independent examiner's gtatement
I have no concems in respect of matters (11 to (4) listed above. and have come across no other matters in
COTuwtion with the examination to which attention should E* drawn ITh this report to enable a proper
understandin8 of the accounts to reached.
Patrick &arll ACA FCCA
S)werby (Jwtered Accountants
Beckside Court
Annie Reed Road
Beverley
East Yorkshire
HU17 OLF
Datw. 26 Mareh 2026
## **NEW PATHS MUSIC LIMITED A CHARITABLE COMPANY LIMITED BY GUARANTEE**
## **STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING AN INCOME AND EXPENDITURE ACCOUNT) For the year ended 31 December 2024**
|**_Notes_**
**INCOME AND ENDOWMENTS FROM:**
Donations and legacies
_3_
Charitable activities
_4_
**Total income**
**EXPENDITURE ON:**
Raising funds
_5_
Charitable activities
_5_
**Total expenditure**
**Net expenditure**
**RECONCILIATION OF FUNDS:**
Total funds brought forward
**Total funds carried forward**|**Unrestricted**
**funds**
**£**
37,611
27,016
**64,627**
1,990
68,195
**70,185**
**(5,558)**
1,580
**(3,978)**|**Restricted**
**funds**
**£**
-
-
**-**
-
-
**-**
**-**
-
**-**|**2024**
**Total**
**funds**
**£**
37,611
27,016
**64,627**
1,990
68,195
**70,185**
**(5,558)**
1,580
**(3,978)**|**2023**
**Total**
**funds**
**£**
67,229
22,484|
|---|---|---|---|---|
|||||**89,713**|
|||||4,641
89,090|
|||||**93,731**|
|||||**(4,018)**|
|||||5,598|
|||||**1,580**|
All income and expenditure derive from continuing activities.
The statement of financial activities includes all gains and losses during the year.
The notes on pages 13 to 22 form part of these financial statements.
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**NEW PATHS MUSIC LIMITED A CHARITABLE COMPANY LIMITED BY GUARANTEE**
## **BALANCE SHEET As at 31 December 2024**
|**_Notes_**
**CURRENT ASSETS**
Debtors
_8_
Cash at bank
**Total current assets**
**CREDITORS**
Amounts falling due within one
year
_9_
**Net current assets**
**Total assets less current liabilities**
**Net assets**
**CHARITY FUNDS**
_10, 11_
Restricted funds
Unrestricted funds
**Total funds**|**Unrestricted**
**funds**
**£**
1,785
1,697
**3,482**
(7,460)
**(3,978)**
**(3,978)**
**(3,978)**
-
(3,978)
**(3,978)**|**Restricted**
**funds**
**£**
-
-
**-**
-
**-**
**-**
**-**
-
-
**-**|**2024**
**Total**
**funds**
**£**
1,785
1,697
**3,482**
(7,460)
**(3,978)**
**(3,978)**
**(3,978)**
-
(3,978)
**(3,978)**|**2023**
**Total**
**funds**
**£**
10,871
1,820|
|---|---|---|---|---|
|||||**12,691**|
|||||(11,111)|
|||||**1,580**|
|||||**1,580**|
|||||**1,580**|
|||||-
1,580|
|||||**1,580**|
The notes on page 13 to 22 form part of these financial statements.
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NEW PATHS MUSIC LIMTfED
A CHARrrABLE COMPANY
LIMITED BY GUARAf+rrEE
BALANCE SHEFr- coKrtNUED
As at 31 December 2024
The charitable company is entitled to exemption from audit under Section 477 of the
Companies Act 2006 for the year ended 31 December 2024. The members have not required
the company to obtakn an audit of its accounts for the period in question in accordance with
Section 476 of the Act. However, in accordance with section 145 of the Charities Act 2011,
the accounts have been examined by an Independent Examiner whose report appears on
page 9.
The trustees acknowledge their responsibilities for..
(a) ensuring that the charitable company keeps accounting records that comply with Sections
386 and 387 of the Companies Act 2006; and
(b) preparing financial statements which 8ive a trne and fair view of the state of affairs of the
charitsble company as at the end of each financial year and of its surplus or deficit for
each financial year in accordance with the requirernents of Sections 394 and 395 and
which othenvise comply with the requirements of the Companies Act 2(X)6 relating to
finanaal statements. so far as applicable to the charitable company.
These finanaal statements have been prepared in accordance with the special provisions of
Part 15 of the Companies Act 2006 relating to charitable small companies.
The financial statements were approved by the Board of Trustees on 26 March 2026 and were
signed on its behajf by..
Roland Deller
The notes on pages 13 to 22 forni part of these financial statements.
Page 112
**NEW PATHS MUSIC LIMITED A CHARITABLE COMPANY LIMITED BY GUARANTEE**
## **NOTES TO THE FINANCIAL STATEMENTS - CONTINUED For the year ended 31 December 2024**
## **1. GENERAL INFORMATION**
New Paths Music Limited is a registered charity and a private company, limited by guarantee, registered in England. Each of the members of the charity is liable to contribute an amount not exceeding £10 to the assets of the charity in the event of it being wound up. As at 31 December 2024, the sole member of the charity was its founder, Mr Roland Deller.
The charity’s registered office address, and other administrative details, can be found within the Trustees’ Report on page 7.
The principal activity of the charity is set out in page 3.
## **2. ACCOUNTING POLICIES**
The principal accounting policies adopted, judgements and key sources of estimation uncertainty in the preparation of the financial statements are set out below.
## **Basis of preparation**
The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with:
- _(a)_ 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);_
- (b) FRS 102 _The Financial Reporting Standard applicable in the UK and Republic of Ireland;_
- (c) The Companies Act 2006; and
- (d) The Charities Act 2011.
The financial statements have been prepared under the historical cost convention.
The presentational currency of the financial statements is the pound sterling (£).
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**NEW PATHS MUSIC LIMITED A CHARITABLE COMPANY LIMITED BY GUARANTEE**
## **NOTES TO THE FINANCIAL STATEMENTS - CONTINUED For the year ended 31 December 2024**
## **Going concern**
The charity is entirely dependent on ongoing donations and, as a consequence, the going concern basis is also dependent on these continuing. The Trustees are of the view that, based on their assessment of the 2024 results, the budgeted income and expenditure, and the fundraising plans in place, the charity is a going concern.
Unfortunately, the charity did not meet its fundraising target for the year and, despite the increase in box office income, the resulting deficit for the year put it into a negative net asset position as at the end of the year. To improve financial stability, the trustees launched a new SUSTAIN fundraising campaign in 2025 which has been well-supported and has eliminated the deficit by March 2026. The turnaround is ongoing and the trustees continue to actively manage the situation.
## **Income**
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received, and the amount can be measured reliably.
## **Expenditure**
Expenditure is recognised as soon as there is a legal or constructive obligation committing the charity to that expenditure, 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 accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category.
Expenditure is classified under the following activity headings:
- _(a) Raising funds_
Costs of raising funds comprise expenditure items incurred in attracting voluntary income.
- _(b) Charitable activities_
- Charitable activities include expenditure associated with the staging of concerts, performances, productions and educational events and include both the direct costs and support costs relating to those activities.
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**NEW PATHS MUSIC LIMITED A CHARITABLE COMPANY LIMITED BY GUARANTEE**
## **NOTES TO THE FINANCIAL STATEMENTS - CONTINUED For the year ended 31 December 2024**
## **Support costs allocation**
Support costs are those that assist the work and objects of the charity and include IT costs, insurance and governance costs. During the year, support costs were incurred chiefly in relation to charitable activities (rather than fundraising) and have accordingly been allocated to expenditure on charitable activities as set out in notes 5 and 6.
## **Taxation**
New Paths Music Limited is a registered charity and as such is not subject to corporation tax.
## **Debtors**
Trade & other debtors are recognised as the settlement amount due after any trade discounts offered.
## **Cash at bank**
Cash at bank includes cash and short term highly liquid investments with short maturity held for working capital.
## **Creditors**
Creditors are recognised where the charity has a present obligation resulting from a past event that will probably result in transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably.
## **Fund accounting**
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
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**NEW PATHS MUSIC LIMITED A CHARITABLE COMPANY LIMITED BY GUARANTEE**
## **NOTES TO THE FINANCIAL STATEMENTS - CONTINUED For the year ended 31 December 2024**
## **3. INCOME FROM DONATIONS AND LEGACIES**
|Gift Aid
Donations including subscriptions
Grants
Transfers of assets
**Total**|**Unrestricted**
**funds**
**£**
3,514
25,097
9,000
-
**37,611**|**Restricted**
**funds**
**£**
-
-
-
-
**-**|**2024**
**Total**
**funds**
**£**
3,514
25,097
9,000
-
**37,611**|**2023**
**Total**
**funds**
**£**
7,790
44,439
15,000
-|
|---|---|---|---|---|
|||||**67,229**|
## **4. INCOME FROM CHARITABLE ACTIVITIES**
|Ticket sales
Programme sales
Miscellaneous income
**Total**|**Unrestricted**
**funds**
**£**
25,490
1,210
316
**27,016**|**Restricted**
**funds**
**£**
-
-
-
**-**|**2024**
**Total**
**funds**
**£**
25,490
1,210
316
**27,016**|**2023**
**Total**
**funds**
**£**
21,234
1,250
-|
|---|---|---|---|---|
|||||**22,484**|
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**NEW PATHS MUSIC LIMITED A CHARITABLE COMPANY LIMITED BY GUARANTEE**
## **NOTES TO THE FINANCIAL STATEMENTS - CONTINUED For the year ended 31 December 2024**
## **5. ANALYSIS OF EXPENDITURE**
|**Expenditure on raising funds**
Staging fundraising events
Transaction fees on online donations
**Expenditure on charitable activities**
Artists fees and expenses
Recording and filming fees
Instrument hire, transport and tuning
Musical score hire
Venue hire
Marketing (including photography)
Festival management and admin
Ticket commissions
Printing, posting and stationery
Governance and support costs (note 6)
**Total expenditure on charitable activities**|**Unrestricted**
**funds**
**£**
1,831
159
**1,990**
33,084
-
8,604
74
6,784
7,062
4,795
1,841
2,695
**64,939**
3,256
**68,195**|**Restricted**
**funds**
**£**
-
-
**-**
-
-
-
-
-
-
-
-
-
**-**
-
**-**|**2024**
**Total**
**funds**
**£**
1,831
159
**1,990**
33,084
-
8,604
74
6,784
7,062
4,795
1,841
2,695
**64,939**
3,256
**68,195**|**2023**
**Total**
**funds**
**£**
4,578
63|
|---|---|---|---|---|
|||||**4,641**|
|||||50,087
6,860
8,160
-
1,649
5,282
11,492
1,475
2,524|
|||||**87,529**|
|||||1,561|
|||||**89,090**|
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**NEW PATHS MUSIC LIMITED A CHARITABLE COMPANY LIMITED BY GUARANTEE**
## **NOTES TO THE FINANCIAL STATEMENTS - CONTINUED For the year ended 31 December 2024**
## **6. ANALYSIS OF GOVERNANCE AND SUPPORT COSTS**
|IT costs
Insurance
Independent Examiner's fees
Other governance costs
**Total**|**2024**
**£**
566
766
1,890
34
**3,256**|**2023**
**£**
291
640
630
-|
|---|---|---|
|||**1,561**|
## **7. TRUSTEE REMUNERATION AND EXPENSES**
The trustees serve the charity on a voluntary basis and none of them, nor any person connected with them, receives any remuneration or any other benefits from the charity in connection with their services as trustees. Miss Elizabeth Burgess receives fees for musician services provided to the charity as set out in note 12.
Expenses reimbursed to trustees during the year were as follows:
## **Mr Roland Deller**
Expenses totalling £31,203 (prior year: £5,829) were reimbursed to Mr Roland Deller during the year (costs for charitable activities paid by him on behalf of the charity).
## **Miss Elizabeth Burgess**
Expenses totalling £244 (prior year: £380) were reimbursed to Miss Elizabeth Burgess during the year.
P a g e | **18**
**NEW PATHS MUSIC LIMITED A CHARITABLE COMPANY LIMITED BY GUARANTEE**
## **NOTES TO THE FINANCIAL STATEMENTS - CONTINUED For the year ended 31 December 2024**
## **8. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
|Gift Aid receivable
Grants receivable
Other debtors
**Total**|**2024**
**£**
644
-
1,141
**1,785**|**2023**
**£**
322
10,000
549|
|---|---|---|
|||**10,871**|
## **9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
|Loans
Trade creditors
Accrued expenses
**Total**|**2024**
**£**
5,000
1,170
1,290
**7,460**|**2023**
**£**
5,000
1,481
4,630|
|---|---|---|
|||**11,111**|
The loan of £5,000 advanced to the charity by Mr Stephen Burgess (a related party as disclosed at note 12) on 4 December 2023 is unsecured, interest-free, has no specific date for repayment and is limited by recourse to the available assets of the charity. It is expected by the trustees that the loan shall be repaid during 2026.
P a g e | **19**
**NEW PATHS MUSIC LIMITED A CHARITABLE COMPANY LIMITED BY GUARANTEE**
## **NOTES TO THE FINANCIAL STATEMENTS - CONTINUED For the year ended 31 December 2024**
## **10. MOVEMENT IN FUNDS**
_Funds held and movements during the_ _**current** reporting period:_
|**As at**
**01-Jan-24**
**Unrestricted funds**
**£**
General fund
1,580
**Restricted funds**
Funds for specific projects
-
**Total funds**
**1,580**
he reconciliation of the net movement in funds is, as follows:
**Incoming**
**resources**
**Unrestricted funds**
**£**
General fund
64,627
**Restricted funds**
Funds for specific projects
-
**Total funds**
**64,627**|**Net**
**Movement**
**£**
(5,558)
-
**(5,558)**
**Resources**
**expended**
**£**
(70,185)
-
**(70,185)**|**As at**
**31-Dec-24**
**£**
(3,978)|
|---|---|---|
|||-|
|||**(3,978)**|
|||**2024**
**Movement**
**in funds**
**£**
(5,558)|
|||-|
|||**(5,558)**|
The reconciliation of the net movement in funds is, as follows:
P a g e | **20**
**NEW PATHS MUSIC LIMITED A CHARITABLE COMPANY LIMITED BY GUARANTEE**
## **NOTES TO THE FINANCIAL STATEMENTS - CONTINUED For the year ended 31 December 2024**
## **10. MOVEMENT IN FUNDS – CONTINUED**
_Funds held and movements during the_ _**previous** reporting period:_
|**As at**
**01-Jan-23**
**Unrestricted funds**
**£**
General fund
5,598
**Restricted funds**
Funds for specific projects
-
**Total funds**
**5,598**
he reconciliation of the net movement in funds is, as follows:
**Incoming**
**resources**
**Unrestricted funds**
**£**
General fund
89,713
**Restricted funds**
Funds for specific projects
-
**Total funds**
**89,713**|**Net**
**Movement**
**£**
(4,018)
-
**(4,018)**
**Resources**
**expended**
**£**
(93,731)
-
**(93,731)**|**As at**
**31-Dec-23**
**£**
1,580|
|---|---|---|
|||-|
|||**1,580**|
|||**2023**
**Movement**
**in funds**
**£**
(4,018)|
|||-|
|||**(4,018)**|
The reconciliation of the net movement in funds is, as follows:
P a g e | **21**
**NEW PATHS MUSIC LIMITED A CHARITABLE COMPANY LIMITED BY GUARANTEE**
## **NOTES TO THE FINANCIAL STATEMENTS - CONTINUED For the year ended 31 December 2024**
## **11. FUND DESCRIPTIONS**
_Unrestricted funds_
Unrestricted funds are available for use at the discretion of the trustees in furtherance of the general objectives of the charity and which have not been designated for other purposes.
_Restricted funds_
No restricted funds were received during the year.
## **12. RELATED PARTY DISCLOSURES**
During the year the charity transacted with related parties, as follows:
## **Mr Roland Deller**
**(Trustee)**
As at 31 December 2024 a balance of £1,141 was owed by Mr Deller (petty cash remaining from the 2024 Spring Festival). The funds were deposited in the charity’s bank account on 17 March 2026.
## **Miss Elizabeth Burgess (Trustee)**
During the year, fees totalling £1,750 (prior year: £4,000) were payable to Elizabeth Burgess for musician services provided to the charity. (Miss Burgess is the charity’s Artistic Director and performs in the festivals which it presents.) As at 31 December 2024 an amount of £nil (2023: £4,000) was due to Miss Burgess.
## **Mr Stephen Burgess (Father of trustee Elizabeth Burgess)**
During the year, Mr Stephen Burgess provided a loan of £5,000 to the charity as described in note 9. As at 31 December 2024 an amount of £5,000 was outstanding under the loan.
During the year, the charity received donations and subscriptions from the trustees and related parties totalling £1,600 (prior year: £1,850).
P a g e | **22**