2021-04-05-accounts

REGISTERED COMPANY NUMBER: CE013849 IEn8land and Wales) REGISTERED CXARITY NUM8ER: 1178026 Re tees aThJ naudit d Finan ment ar Ended A ri12021 und World Moore Chartered Accountèrtts First Floor 29 Sl Augustine's Parade Bristol BS14UL

nt nt I h Fin ar Page Report of the Trustees Independent Examiner's Report Statemeni of Financial Activities Balance Sheet Notes to the Firtancial Ststements 7 to 11 C*tai￿d Statement of Financkil Acliwties 12

Re ort ofthe Trustees for ihe Year Ended 5 ri12021 The trustees who are also dirertors of the charity itsr the purposes of the Companies Act 21J)6, preseni Iherr r¢wrt with the financial statements of the charity for thg yeèr ended S April 2021. The trustees have adopted the provisions ol Actounting and Reporting by Charttie5-. Staiemenl of Recomfflended Practice applicable to charities preparin8 their accounts in accor(lance with the Finanoal Reporting Standar applicable in the UK and Republic of Ireland IFRS 1021 (effective l January 20191. OBJEcfivES AND ACTivmES Objertlves and aims The advancernent of public appretiatlon and knowledgc of classical MUSK lintluding contemporary classital music). The promotion of rnusic31 educatiovTr. knowledge, creativ*ty and composin8 skills of. in particu￿[ but rtot exclusi¥ely, youn8 people. Significant artl¥itiÈs The Sound World Coronavirus Fund for F￿lanCe Musiciarn When lor.kdown began in the early d8ys of the pandemic in Marth 2020. all the educational events, oncens, cummissi0ft5 etc. that Sound Wodd had been preparrn8 for were cancelled. In the vacuum that ensued. we resolved to keep producln8 great new music in 5pTrle of lockdown and to pr￿Ide much needed paid work to freelance musitians whose diaiies had empiied. literally over nF8ht. We asked leadsng composers to write new works in 5UPI)ort of their performin8 colleaÉues_ The performers recorded iheir individual parts ai home, in line with government reMrittions, befo￿ ￿Ing knitted together by our sound engineer lo ueaic genuine ensemble music. I the composer5 waived their commisston fees and Sound Worfd Tan the project on a pro bono basis. A crowdfunding campaign ertSu￿d that the performers. recording fees were paid upfront, providing valuable financs315UPPOrt at the height of lockdown. The project resulted tn Reflectio)ns. an album of 12 new works by Sally Bèamish, Gavin Bryars. Michael Ellison. Gfahèm fitkin, Dame Evelyn Glennie. Sadie Harrison. Julian Leek5. Nico Muh￿. john Pickard. Geoff Poole, Howard Skempton and Mark-Anihony Turna￿. Public benefit The irustees have had regard to the 8uidance issued by the Chèriiy Commission on publi¢ behefit. ACHIEVEMENT AND PERFORMANCE Charitsble arttvitiES As noted above, our co￿d-19 Project prowded financial support to freelance musicians when il w35 most neede(l. tt also providèd composers with the motivation io keep creatin8 new work at a time when most commissions we￿, at best. on hold. The re5uhinR album. Reflettv)ns, wli I be there for the wodd to enjoy in perpetuily. Bul it is 8150 a valuable document de5cribin8 rnusical lif@ durin8 the pandemic and a practical demonstration of how art and artL%ts an creaie someihing Posiiive out of a crisis. Pa8e I

Re rt ot the Trustees ar FINANCIAL REVIEW r¥nancial posrtlon though the pandemic weant thai we receNed no support from our usual funders. indNidual donations to Sound World, following the sireaming of videos from the Reflections album and other related promotions mean that we do have limited funds to put towards projects in 2021122. ReseThes pol The reserves policy agreed by trustees 15 10% of annual S￿nding. srRucfvRE, fjOVERfdANCE AND MANAGEMENT Governing document The charity is cOntrol￿d by Tts governing document, a deed of trust, and constituies a limited company. limited by guardntee, as define(I by the Companies Acl ZCQ6. ftEFEREN￿ AND ADMItIlSTAATIVE DETAILS Registered Company number CE013849 (England and Walesl e8irt¢red tharity rlumber 1178026 istertd ¢>ffke 40 High Street Claverham Brisiol BS49 4NE Trustres S Harrison I Stap£ C Frcd R San8ha A Cooper-whlte Indepe￿Ient Eyamlntr Moore Chartered Accountants First Floor 29 St Augustine's Pafade Bflstol 8514UL 15.02.2022 Approved by order of the board of trustees on............................................. and ￿gned on its behalf bv". J 5tsgg- Trustee Page 2

Ind nt£x Sound WDrlrt min Re on to the Trust Independent eJMminerfs report to the trustees of sound World Ilhe Companrfl I report to the charity trustees on my examination of the accounts ot the Company frjr tht year ended 5 April 2021. Res￿nSIbIlItIeS and basis of report As the charity's trustees of the Company land also its dirertor5 for the PUTP05eS of company lawl you are responsible for the Preparation of the accounts in accordancc with the requirements of the Companies Acr 21KJ61'the 21X)6Act'l. Having 54ti5fied myself that the accounts of ihe Company are not required to be audited undei Part 16 of the 2¢XJ6 Act and are eligible for indèpendènt examinatlon, I report in re5pert of rny examination of your charity's account5 as carried out undei 5eclion 145 of Charrties Act 20111.thc 2011 Aci'l. In carryin Dut my examinalion I have followed the Oirections given by the Charity Comm155ion under section 145151 Ibl ol the 2011 Act. Independent txaminerfs statement I have COMp￿ted my examinètion_ I confirn) th8t no matteT5 have come to my attention in connection with the examinaiion eiving me cause to believe= accounting records were nor kept in re5F*rt of the Compèny as required by seaion 386 of the 21X Act", or the a£cournt5 do not atcord with those fecords,. or the accounts do not comply with the accountinE requirements of 5e(tion 396 01 ihe 2(￿ Act other than any requirement that the èccounts give a true and fair view which is not a matter consFdered as part of an Independent examination- or the accounts have not been prcpared in accordance with the methods and principlc5 of the Statement of Recomrnended Prattice for accounting and reporting by chariiies lappltcable to chaiities preparin8 their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Sreland IFRS 10211. I have no concems ènd have cgme across rTrD Other marters in connection with the examination to which attentlon should be drawn in th45 report in order to enable a proper undèrstsnding of the accounts io be reached. Roben Branch Morjre Charte￿￿ Actountsnt5 First Flcw)r 29 St Augustine's Parade Bristol BSI 4UL PJ8e 3

Slatement of Financial Activitips for 5.4.21 Total fvnds 5.4.20 Total funds Unrestritted Restricted fund fund Notes INCOME ANO ENDOWMENT5 FROM Lk*nat¥)ns and le8acies 6.252 6,252 Other tr4din8 actwities 831 831 1,677 Total 7.083 7.083 3,185 EXPET4OFnJRE ON Charltable activities Fees 6,082 6.082 9.783 Other 538 538 690 Tots 6,620 6.620 10.473 NET INCOMVIEXPENDITUREI 463 463 17,2881 Trnnsfers between funds 1981 Net movement in fvnds 365 98 463 17,2881 RECONCIUATION OF FUNDS Totsl filnds brt>ught fonrdrd 13401 1981 1438 6,8SO TOTAi FVNDS CARRIED FORWARD 25 25 14381 The notes fomi part ofthese flnancial ststements Page 4

und Workl Balan eshe ril 20 5.4.21 Total fvnds S.4.20 Total funds Unresiritted Restricted fund fund Note5 CURREKf A55Ef5 Cash at bank 140 CREDITORS Amounts falling due ￿thin one year i%oi 15781 NEf CURRENfASSEfS/lUA8IUTIES 25 25 14381 TOTALASSETS LESS CURRENT LIABIUTIES 25 14381 NET ASSETSIIUA8ILfflESI 25 25 14381 FUNDS Unrestricted funds Restricted fvnd5 25 13401 1981 TOTAL FUNDS 25 14381 The charitablè company is entltled to èxempiion from audit under Section 477 01 ihe Compènies Aci 2￿6 forthe year ended 5 April 2021. The member5 have not requiied the company to obiain an audit of its finantial statements for the year ended S April 2021 in accocdance with Section 476 of the Comparties Atl 2tffi. The trustees acknowledge their responsibilities for ensuring ihat the charitable company keeps accounting reCo￿S that comply wtth Seclions 386 and 387 ot the Companies Act 2CK6 and preparing financrdl staternents whith give a true and fair vrw of the slate of affair5 Of the charitable company as at the end ol ea£h financial yeèf and of its surplus or deficit foi each financial year in accordar￿e with the requirements of Sections 394 and 395 and which otherwise comply with the requiremènis of thÈ Companies Act relatin8 to financial statements, so tsr as applTrcable to the charitable company. Ibl The notes fom part of these financial ststements Pa8e 5 coniinued..

Dd World Balanc Shee 02 These financial statements have been prepared in accordance with the provi￿On$ applicable to charitable companies subject to thÈ small compan￿S re8ime. The financial staiÈments were approved by the 8oard of Trustees arbd authori5ed for issue on 1.5..02:2022 . and were signed on its behalf by.. - Trustee The notesfomi part of these fin4rKial ststerrents Pa8e 6

Notes to ihe Financial Statement5 for the Year Ended 5 A ril 2021 ACCOUNTING pouaES Basi5 of preparing the finaNial statements The financial siaiemenis of the charitable company. whiih 15 a public benefii enttty under FRS 102, have been prepared in accordance with the Charrties SORP IFRS 1021 'Accounting and Aeportin8 by Chartties.. SlatemÈnl of Recommended Practice applicable to charitie5 Preparing their accoun15 In accordance with the Financial Reporting Standard applicable in the UK and Repub5ic ol Ireland IFRS 1021 leffective I january 20191,, Financial Reporting St4ndaid 102 The Financial Rèporting Standard applicable in the UK and Republtc of Ireland, and the Companies Act 20[6. The financial statements have beer¢ prepared under the hb5torical cost convention. Incomè All income is recognised in the Statement of Ftnancial Activilie5 once ihe charity has entitlement to the funds, tt Is probable that the income will be received and the amounl can be measured reliably_ Expendkture Ltabilitie5 are retogrtised as expenditure as soon as there is a le8al or constructive c&li8ation ¢ommittin8 the charity to that Èxpènditure, It is probable that a transfer ol ètonomic benefirs will bE required in settlement and the amount of the obligètlon tan bÈ measured reliably- Expendilure is cDunted for on an acciua15 basis and has been classified under headings that 38gre8ate all cost related to the category. Where costs can1￿t be directty attnbuted to parti(ular headln85 they have bten allocated to actiVit￿S on a basis con5151ent with the use of resources. Ta￿tIOn The charity ts exempt from corwration tax on Ots charitable activities. Fund accounting Unrestricted tunds tan be used in accordance with the charitabl¢ objectives at the Lli5cretion of the trusiees. Restricied ftsnds (an only be used for partKular restricted purposes wtthin the objects of the chartty- Restriuions arise when specified by tht donor or when funds are raised for particular rÈstrtrcted wrposes. Furthèr explanatitin of thè nature and purpose of each fund is included in the note5 to the financrdl stsi*mentL Pa8e 7 continued...

Notes to th Finan for rhe Y ar nde lal St?tements- continued SA ri12021 OThER TRADINGAcThvinES 5.4.21 5.4.20 Fundraising events Concert video 831 1,557 831 1,677 TRUSTEES. REMUNEKATION AND BENEFITS There were no trustees. remtsneration or other bÈrefits for the year ended 5 Aprtl 2021 nor for the year ended 5 April 2020_ rru5tees' expenses Thcre were no trustees, upenses paid for the yèar ended 5 April 2021 nor for the year ended 5 April 2020. COMPARATIVES FOR THE ¥tATEMENTOF Fifw4CIAL ACTivmES Unresiritted Restricted fund fund Totol funds IPICOME AND ENDOWMEKfs FROM Donations and legacie5 Other trading artiVFties 1,677 1,677 fotsl 3.185 3.185 EXPENDIWRE ON Charitabje artlvitles Fees 9,783 9,783 Other 690 Totsl 690 9.783 10.473 PIET INCOMEIIEXPENDMJREI 16.5981 17.2881 RECONauAllON OF FUND5 Total fuNts brougth forward 350 6,5tsJ 6,850 TOTAL FUNDS CARRIED FORWARD 13401 14381 Page 8 coniinued...

Notes io the Financial Statem for arEn continu CREDITORS: AMOUNTS FALUNG DUE WtnllN ONE YEAR 5.4.21 S.4.20 Bank loans dnd overdrafts Ise¢ note 61 Trade creditors Accrued expenses 578 LOANS An analysis of the maturity of loans is 8iven below.. 5.4_21 5.4.20 Amounts tslling due within one year on demand.. ank overdrafts 98 MOVEMEpifiN FUNDS Net Transfers between fund5 movement In funds At 5.4.21 At 6.4.20 Unrestricted funds Geneial fvnd 13401 463 198} Restrictèd lunds Restricteij fund 1981 98 TOTAL FUNDS 14381 463 25 Net movement in funds. included in ihe above are as follows: Incomin8 resources Resource5 expended m0ven￿nt in funds Unrestricted fvnds General fuTrd 7,Cé3 16,6201 463 TOTAL FUNDS 7,083 16.6201 463 Pa8e 9 continued...

Notes to ihe Financial Statem ar ntinue MoVEmEP￿ IN FUNDS- continued Comparatlves for mo¥emnt in fvnds Nèt movement tn funds At 5.4.20 At 6.4.19 Unrestrictsd funts Genefal fund 350 16901 13401 Restrrrted funds Restricted fund 16,5981 1981 TOTAL FUNDS 6.850 17,2881 14381 ComparatFve nei mo¥ernent In funds, Induded in the above are as follows: IncominB resources Resources Movèment expended in funds Un￿Stricted fvnds General fund 169)) Rtstritted fvnds Resrricted lund 3,185 9,7831 16,5981 TOTAL FUNDS 3,185 110.4731 17,2881 A current year 12 month5 Jnd prior year 12 months combined position is as follows-. Net movement in funds Transfers between fvnds At 5.4.21 At 6.4.19 Unrestrfcted fv•xts General fund 350 12271 {981 25 Restricted funds Rertrtcted fund 16.5981 98 TOTAL FVNOS 6,850 16.8251 25 Pa8e 10 continued...

Notes tts the Financial Statemen for the Year Ended S A ril 2021 in MOVEMENT IN FUNDS- continued A current year 12 months and prior year 12 months tombincd net rrnvemeTht in funds. included in the dbove are as follows.. Incoming resources Resources expended Movement in fijnds Unrestrirted funds General fund 7,083 17,3101 12271 Restricted fvnds Restritted Fund 3.185 19.7831 {6.5981 TOTAL FUNDS 10.268 117.Ce31 16,8251 REIATED PARTY DISCLOSURES There were no related party transactlons for the year ended 5 April 2021. Pa8e 11

Ctailed Statpment of Finan lor the Year Ended 5 A ri12021 5.4.21 5.4.20 INCOME AND EMDOWMEp4rs DonatiDn5 and legacie5 OonatwJn5 Gift aid Grants 4,701 526 1,025 1.5C 6.252 Other tradSng artlvlti5 Fundraising events Concefl video 831 1.5S7 120 831 1.677 T¢>tal Incorning resources 7.1￿3 3.185 EXPENDITURE Charitable acti¥ltTes ArtiMs fees Studio feÈs Distribution costs Sheet music 5.345 5.650 432 3,330 42 6,082 9.405 MarWge￿nt Insurance Sundries Webyte hostin8 165 46 56 265 Finance Postage and stationery 323 Go¥emance costs Accoufttancy and leBal fees Tolal resources expended 6,620 10,473 Net intornel(expendlture) 463 17,2881 Thi5 page does r￿t fvrni part of the statutory financlal statements Pa8e 12