Charity regisiraiion number.. 1182196 Music24 Annual Report and Financial 8tatem¢nts for the Year Ended 31 March 2024 Comn)unily ALcounling Plus Uniis l & 2 North West 41 TalLx)i Street Noitingham NGI 5GL
Music24 Contents (continued) Reference and Administrative Details Truste¢s' Report 2to4 Statement of TTU5tee5' Respon5ibilitie5 Independent Exaininels Report Statement of Fii)ancial Activities 7t08 Balance Sheet Notes to the Financial Ststements IOto20
Music24 Reference and Administrative Details Trustee5 lan Begg Thomas William Morley Johnson Tracey Brennan Kevin Allchome Senior Management Team Teela Hughes: Chief Execiitive Officer GTaeme Davis, Lead Music Therapist Charity Registration Number 1182196 Principal Office The Hat Factory Arts Centre 65-67 Bute Street Luton Bedford5hire LUI 2EY IndepeDdellt Examiner John O'Brien, employee of Community Atcounting Plus Units l & 2 North West 41 Talbot Street Nottingham NGI 5GL Page I
Music24 Trustees, Report The tiustees present the annua] report together with the financial statements tsf the charity for the year ended 31 March 2024. Truste¢5 and officers The trustees and officers serving during the year and since the year end were as folloivs.. Trustees.. John Ley (resigned I l June 2024} lan Begg (appointed 3 October 2023) Julia Claire Rentoii (resigned i October 2023) Diana Pook (resigned l June 20231 Thoinas Williatn Morley John50n Tracey Brennan Kevin Allchorne (appointed l O April 2024) Objectives and aetivitieg Objeel.f ttiidoim.s l ) The relief of Iieed for the people in particular but not exclusively iii Bedfordshire and Hertfordshire by reason of ill-health or mentsl or physical disability by therapeutic mea]is, in particular: thouuFh not exclusively, by the provision of music therapy and other music related activities to improve quality of life for those people. 2) To proTnote social inclusion among people who are socially excluded from society, as a resiilt of their mental or physical ill-health or disability throu¥h the development and delivery of art5-based activities aiid experiences iiicludiiig but not limited to music and Singin Public benefil Music?4 is dedicated to prL)moting inclusive music making and shaping the future for vulnerable and isolated communities to access creative anivor thergpeutic opportunities. Music24 currently provides various creative and therapeutic services and activities 10 people in Bedfordshire & Hertfordshire. Our main areas in Bedfordshire are.. Luton, Bedford, Biggleswade & Leighton Buzzard; and in Hertfordshire.. Watford. WelnIHatr1e1d. Stevenage and Cheshunt. Our various activities in¢luded pri)viding creative musi¢ therapy groiips and l.. I music therapy, community choir5 and siiigFingJ cafes. The support Miisic24 provides iTnproves the qiiality of life for people with disabilities, their carers, aiid the wider conimunity. The activities help to improve participaiits, physical, meiital ai)d emotional wellbeing.. building resilience widiin these communities., they would otheTwise be excluded from meeting new people and accessing music and other creative opportunities, and these activities strengthen wider social support netsYork5. The aciivities provided improve the quality of life for people with disabilities. their carers. and ihe wider comn)unily. The activities help to improve participants, physical, Inenthl and einorional wellbeing.. building resilience within these communities; they w'ould oiherwise be excluded froin n)eeting i)ew people and accessing music and other ¢re81ive opportunities, and ihese activities strengthen lder social suppoff networks. The Trustees confirm that they hgve complied with the requirements of section 17 of the Charities Act 2011 to have due regard to Ihe public benefit guidance published by the Charity Commission for England and Wales. Page 2
Music24 Trustees, Report (continued) Achievements and performance Tlie Trustee5 of Mu5ic24 are pleased to report on the continuing success of charity. Music24 has ¥rown at a substantial rate over this financial year and looks forward to an excitinu fiiture ahead! The year focused on expatjding support services, as well a5 furtlier strengthening the org7anisational Structure of the charity, tliereby securing the fiiture of Music24. One notable developineiit was the expansion of Music24'5 work in Bedford supporting people who are elderlylfrail. For Mugic24, 20?3-24 was the first yeai on the Arts Council England National Portftslio Organisation laka.4CE NPO} Investment piogiainme foi the charity. This 3-ytar programme NPO siipport is vital to the ¥rOth and secuiity of the charity as it will help to iiurture the chaiit), for the future and tnaintaiii and develop our work. It will further suppvrt the Lharity to remain ainbitious and 'think bigger,. Becoming an ACE NPO has been instrumental in helping Music24 Iransfomi its organisational structures which will be essential to ensuring the future grOh and viability of the charity. This has entailed the SMT and Board adopting ACE-S robust quarterly reporting requirements which has greatly strengthened the charity-s strategic planning and the Board's ongoing development. In addition. it has directly contributed to Music?4 having a growing influence and involvement within the Arts & Culture sector, particularly in Luilin. and being involved in strategic sieering groups. This involvemeni has helped to raise the profile of the 'Arts & Disability, and the role ihat the arts can play in improving health and wellbeing. Musi¢24 was also success1 in s¢ciiring three years match fiinding from The National Lottery Community Fund (TNLCPI. This hgs been Secured to fvnd core salaries as well as delivery of Current and iiew work. Therefore, ACE and TNLCF now fund approximately a third each of the chgrity's outgoing for the next three years. As a result of this funding, Music94 looks to expand its services over the coming years to reach 800 people, 350 more than we cutTently reach. The SMT will focus on Music24's upcoming 10th Anniversary, officially iii April 2024, by focusin£ its energies on running a Celebration evenin& iii June 2024, as well as a large scale recording project at Abbey Road Studios involving 60 performers singing an original song as a choir. The choir will be made up of service users, carer5, Staff and volunteer5. The project will fotyn part of our Christtna5 2024 campaign and we will be releasing a i-track EP it) November 2024. Celebrating this huge n)ilestone means a lot to those that work for Music24 and those tl)at are supported by the Lharity. These events are expected to rdi5e aw'areness of the Lharity and open doors for sponsorships and corporate partnthlps, which is a new vei)ture for the charity but a highly welcoined development. Highlights.. Successfully adLlPting & meeting all ACE NPO reporting requirements. including audience insights and participant feedback. We continue to hold an annual Dementia-friendly Carol Service in Hatfield and in December 2023 welcomes 198 guests from the local community, including community partners, local business and people of all ages who ere external to the charity's curreni reach. Over the year, in addiiion to our ongoing work, we began a new Singing Cafe in Bedford. Music24 has attracted new Trustees that bring fresh energy and a wealth of experience with them. The Board is now a lot more proactive in supporting SMT to build the back-office nCtiOnS of the charity. Page 3
Music24 Trustees, Report (continued) Financial rei'iew Music 24,5 2023124 accounts have been prepared on an Accrual Basis which is a change from previous years k)S Music24 has now SUTpa5sed the £250k threshold. Income & Expenditure The Income received was £282.140 compared to £183,403 iii the previous year. Tliis significant difference has occurred due to the charity growinbF a considerable amowit due to neiy llive5tinet]t fidIng that is helping us to expand oui activities. In the same period. expenditure increased to £321,388 against £219,886 in the previous year. This reflects the significant growth of the chaiity and the new aLtivities that took plaLe during 2023-24. Policy on reserves Musi¢24 aims to build reserves so it ke¢ps a minimum of 3 months running costs to provide more security for the charity. Miisi¢24 is looking to increase oiir reserves so it is in-k¢cping with the charity'% grOth biit realis¢ this might be difficult when building the team and its capabilities. Musi¢24 SMT is Confident that there are a nuinber of ways to build reserves, particularlv diie to the charity receiving reglllar unrestricted funding. The BoaTd is aware of this, theTefore cost cutting strategies that don't affect the gromrth have been hi£hlighted. This SIatIOn i¥'ill be monitored in our Board meetings and highlighted in our regular iipdates to our Risk Register. A5 of 3 1st March 2024, Music24 has £59,357 in unrestricted futjds (free reserve5). Structure* governance and management alure of&yoverning dvcumellt The charity is operated under the iules of its CIO foundatioi) constitutioi) adopted 19th February 2019. last amei)ded 01) 14th June 2022. Recruilnienl and uppoinlmen¢ of iruslees The trustces of the Charity follow the Charity Commission guidance on the m¢thods adopted for the recniitment and appointment of new trnstees. Musi¢24 has introduced a 'co-opt' strncture which allows prospective twstees to gttend meetings in order to learn about the charity and see if the opportunity is one they wish to piirsue. The cfropted members can attelld meetings but are non-voting members. They may have a specialist interest and support the Board in an advisory capacity. It ca]1 also be used for trustees that wish to step down from the fiill responsibility of being a trustee for the charity biit Still M'ish to support the Board and the charity 5 developineiit. Tliis inodel is popular with people that have carin¥ resp0115ibilities and other cominitments. Page 4
Music24 Statement of Trustees, Responsibilities The trustees are responsible tor preparing the tiustees, ieport and the tinancial stateinents in aLcordan¢e with the United Kingdom Accounting standd$ (United Kingdoin Generally Accepted A¢countin¥ PraLtice) and applicable law and regulations. Th¢ law applicable to charities r¢quires the trustees to prepar¢ financial statements for each financial year which give a trne and fair view of the %tate of affair% of the charit), and of the incoming resoiirces and application of resources of the charity for that period. In prcpgrinq these financial statements, the triistees 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 M'hether applicable accountln¥ 5tandard5 have been followed, subject to any rnaterial departures disclosed and explained in the financial stateinents", and prepare the financial statements on the going concern basis unless it 15 inappropriaie to presume thgt the chariry lI1 continue in business. The trnstees are responsible for keeping Proper accoiinting records that disclose with reasonable accuracy at any time the financial position of the charity and eiiable them to en5llre that the financial statements compl), with the Charitie5 Act 2011, the Charities (Accoiiiits and Report5) Re&Tulations 2008. and the provisions of the constitiition. The trLiStee5 are also resp0115ible for safe¥iiarding the assets of the charity and hence for takin¥ reasonable 5tep5 for the prevention and detection of fraud and other irregFularities. The trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company's website. Legislaiion governing the preparation and dissemination of financial stsiemenis ma}, differ from legislation in otherjurisdictions. Approved bv the trustees of the charity on 3011012024 and signed on its behalf by.. Thomas William Morley Johnson Trustee Page 5
Music24 Independent Examiner's Report to the trustees of Musie24 Itldependent exarnitLer'5 report to the trustees of Music24 I report to tht trustees on in> examination of the accounts of Music24 {the Charity) for the year ended 31 March 2024. Responsibilitie5 and basis of report As the trnstees of the charity you are responsible for the preparation of the ac¢ounts in accordan¢e with the requirements of the Charities Act 2011 (the Act')- I report in respect of my examination of the Charity's accounts carried oiit under section 145 of the 2011 Act and in carry'ing out my examination I have follo.ed all the applicable directions given by the Charity Commission under section 145{5)(b) of the Act. llldependent exarnitler 5 Staternent Since the Chariiy's gross income exceeded £250.000 your examiner must be a member of a body listed in sectilin 145 of the 2011 Act. I confirm that l am qualified to undertake the examination because l am a member and Felloiv of the Association of Charity Independent Examiners, which is one of the listed bodies. I have compleied my examination. I confimi that no matters have come to my attention in connectilin with the examinaiion giving me cause to believe that in any material respect.. accounting records were not kept in respect of the Charity as required by Section 130 of the Act: or 2. the accounts do not accord with those records: or 3. the accounts do not Comply with the accounting requirements concerning the forni and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a 'true and fair, view 'hICh is not a matter considered as part of an independent examination. I have no concerns and have come acros5 110 other inatters iii connection with the examination to which attention sliould be drawli in this report iii order to enable a proper under5tandinu of the accouiits to be reached. John O'Brien Msc, FAIA, FCCA. FCIE, employee of Community Accounting Plus Fellow of the Association of Charity Independent Examiners Units l & 2 North West 41 Talbot Street Nottingham NGI 5GL 0711112024 Page 6
Music24 Statement of Financial Aetivities for the Year Ended 31 Mareh 2024 Total 2024 Total 2023 Unrestricted Restricted Note Income and Endowments from: Donations and legacies Charitable activities Other trading activities 117,097 52.783 400 117.097 164.6i7 406 4i.270 123,887 16,246 111,854 Total Income 170,280 111,854 28? 140 183,403 Expenditure on: Charitable aciiviiies (126.617) (182,635) 1309.252) (219,886) Totsl Expenditure Net incomel(expendiiure) Gross tsansfers betw'eeii funds (126,617) (182,635) 1309 ?52) (219.886) 43,669 li9.850) {70,781) 39,850 (27,112) {36,483) Net movement in funds i,819 (?0.931) {27.112) {?6.483) Reeoneiliation of funds Total funds brought fonvard 55,538 47,8i I 103,?69 139,852 Total funds carried forwaid 59.357 16,900 76,257 103,369 All of the charity's activities derive from continuing operations during the above two periods. The funds breakdOl for the period is shown in note 15. The notes on pages 10 to 20 forni an integral part of these financial siatements. Page 7
Music24 Statement of Finaneial Activities for the Year Ended 31 March 2024 (continued) These are the figures for the previous accounting period and are included for cornparative purposes Total 2023 Unrestricted Restricted Note Income and Endowrnents from". Donatioiis and legyacies Charitable activities 43,270 20,299 43,270 12J.887 16,246 103.588 Other trading activities Total Income 79,815 103,588 183,403 Expenditure on: Charitable activities 157,129 1162,757 219,886 Total Expenditure 157,129 1162,757 219,886 Net incom¢l(expenditure) Gross transfers between funds 22,686 {6,534) {59,169) 6,534 (36,483) Net movement in funds 16,152 {52,635) 136,483) Reconciliation of funds Total funds brought forward 39,386 100,466 139,852 Total funds carried forward 47.8i I l OJ,J69 The notes on pages 10 to 20 forni an integral part of these financial siatements. Page 8
Music24 (Registration number: 1182196) Balance Sheet as at 31 March 2024 2024 2023 Nute Fixed a55ets Tangible assets i.232 1.199 Current assets Debtors Cash at bank and in hand 12 18,406 59,071 8.988 95,585 77,477 104,573 Creditors: Amounts falling due within one year 14 (4.452 {2.403 Net currenl assets 73,025 102,170 Net assels 76,257 103,369 Funds of the Charily: Restricted income funds Restricted fllnds 16.900 47.831 Unrestricted income funds Unrestricted funds 59,357 55,538 Total funds 76,257 103,309 The financial statements on pages 7 to 20 were approved by the trustees. and authorised for issue on and signed on theii behalf by.. Tracey Brenn Trustee The notes on pages 10 to 20 forni an integral part of these financial siatements. Page 9
Music24 Iyotes to the Financial Statements for the Year Ended 31 March 2024 l Accounting polieies Statement of eompliattee 'I'hc financial statcincnts have been prepared in accordance with the second ¢dition of th¢ Charities Statement of Rccommended Practic¢ issued in Octi)ber 2019. the Financial Reporting Standard applicable in the United KinbFdoin at]d Republic of Ireland IFRS 102) aiid the Cl)aritie5 Act 2011. Basis of preparation Music24 meets the definition of a public benefit entity under FRS 102. Asset5 and liabilities are initially recognised at historical cost 01 tra115actioii value iiiile55 Othetwise stated in the relevant accounting policy notes. Exemption from preparing a cash f]ow statement Under the exemption available to smaller charities the Board of Trustees has chosen not to include a Statement of Cash Flows within the financial stateTnents. Going £on£ern The financial siatemen(s have been prepared on a going concern basis. The trustees assess whether the use ol. going concern is appropriate i.e. whether there are any material uncertainties related to events or conditions that may cast sigiiificant doubt on the ability of the charity to continue as a going concern. The trustees make this assessment iii respect of a period of one year from the date of approval of the financial siatements. Income and endown]ents Voluniary income including donations, gifts, legacies and grants that provide core funding or are of a general nature is recognised when the chariry has entitlement to the income, it is probable that ihe income will be received and the amount can be measured with sufficient reliability. Doiiulion5 and legocie5 Donation5 and legacies are recognised on a receivable basis wheii receipt is probable and the amount Can be reliably measured. Grartts rec'elvable Grants are recognised when the charity has an entitlement to the funds and any condiiions linked to the grants have been mei. Where perfomiance conditions are attached to the grani and are yet to be meL the income is recognised as a liability and included on the balance sheet as deferred income to be released. Expenditure All expenditure is recognised once there is a legg1 or constructive obligation to that expenditure, it is probable settlement is required and the amount can be megsured reliably. All costs are allocated to Ihe applicable expenditure heading th81 aggregate similar costs to that category. Where costs cannot be directly attributed to the particular headings the}, have beeii allocated on a basis consistent with the use of resources, with central staff costs allocated on the basis of time spent, and depreciation charges allocated 011 the portioii of the asset's Use. Other siipport costs are allocated based on the spread of siaff costs. Page 10
Music24 Notes to the Finaneial Statements for the Year Ended 31 Mareh 2024 (Continued) Chtsriluble QCiivlllÉs Charitable expenditure comprises those Costs incurred by the charity li) 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 ro support ihem. Government grants Govemmeni grants are recognised based on the accrual model and are measured at the fair value of the asset received or receivable. Grants are classified as relating either to revenue or to assets. Grants relating to revenue are recognised in income over the period in which the related costs are recognised. Grants relating to assets are recognised over the expected useful life of the asset. Where part L)f a grant relating IL) an asset is deferred. li is recognised as deferred income. Tk)xation The charity is con%idered to pass the tests set out in Paragraph l Schedule 6 of the Finance Art 2010 and therefore it meets the definitii)n of a charitable compan}, fi)r UK corporation tsx purposes. Accordingly, the charity is potentially exempt from taxation in respeci of income or capital gains received within categories covered by Chapter 3 Pgrt 1 l of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Art 1992, to the extent that such income or gains are applied exclusively 10 charitsble purposes. Tangible fixed assets Individiial fixed assets costing £500.00 or inore are ii)itially recorded at cost, les5 any 5ub5equent accumulated depreciation and 5ub5equent accuTniilated impaiTment losses. Depreeiation and amortisation 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.. Asset class Furniture and equipment Computer equipment Depreciation method and rate 200/0 straIt line 330/0 StraIt lit]e Trade debtors Trade debtors are amounts due from Customers for mer¢handise sold or services performed in the ordinary course of business. Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised c05t Using the effective interest inethod, less provisioii for iinpainneiit. A provision for the iinpainnent of debtor5 IS established when theTe is objective evidence that the charity will not be able to collect all amounts due according to the original teTms of the receivables. Cash and cash equivalents Cash dnd cash equivalent5 con)prise cash oil hand and call deposit5. and other short-tenn liighly liquid iiive5tmeiits that are readily convertible to a kiiown k)mOUllt of cash and are siibject to ali insignificant risk of change in value. Pagell
Music24 Notes to the Finaneial Statements for the Year Ended 31 Mareh 2024 (Continued) Borrowings Intere5t-bearin¥ bOOw1n¥S are initially recorded at fair value, net of transaction costs. Intere5t-bearin¥ borrowings are 5ub5equently carried at amort15ed c05t, with the difference between the proceeds, net of transaction cost5. and the amount due on redeinption being recognised as a charge to the over the period of the relevant borrowin¥. Interest expense 15 recogni5ed on the basis of the effective interest method and is included in interest payable and siinilar charges. Boffowings are classified as current liabilities unless the has an unconditional right to defer settleinent of the liability foi at least twelve inonth5 after the reporting date. Fund structure Unrestricied income funds are general funds that are available for use at the trustees, discretion in furtherance of the objectives of the chariry. Restricted income funds are those donated for use in a particulgr area or for specific purposes, the use of which is restricted to that area or purpose. 2 Income from donations and legacies Unrestricted funds GeDeral Total 2024 Total 2023 Donations and legacies,. Donaiions from companies, tSt$ and similar proceeds Grants, including capital grants; Government grants Grants from companies, trusts, etc 16.926 16.926 38.254 2,671 97,500 2,671 97,500 5,016 117,097 117,097 43,270 Page 12
Music24 Notes to the Finaneial Statements for the Year Ended 31 Mareh 2024 (Continued) 3 Income from eharitable activities Unrestricted funds General Restricted funds Total 2024 Total 2023 Activities contributions 16,9ii i5,850 16.9i3 35,850 109,854 2,000 Sgles & fees Grants & donaiiL)ns Sponsorship 20,299 103,588 109,854 2,000 111,854 164,637 123,887 4 Income from other trading activities Unrestrieted funds General Total 2024 Total 2023 Fundraising income 406 406 16,246 406 406 16,246 5 Grants and donations Unrestricted funds Restricted funds Total fund5 The National Lottery Community Fund Postcode Community Trust Harpur Trust BLCF Luton Recovery Fund Wixamtree Trust House of Industry CBC Active Community Grant Mrs B L Robin50n Trust Co-op HCC HCF Day Opps Whiibread Comic Relief Strangward TnJ5t Magic Little Grants Arts Council England NPO Gift Aid Ann Rylands Small Donation Fund Sundji. grants & donaiions 47.500 25,000 8,000 7,000 5,000 i.534 47.500 25,000 8,000 7,000 5,000 2.782 2.342 1,500 1,348 1,000 1,000 500 2,782 2.342 1,500 1,348 1,000 1,000 500 95.000 2,671 2,500 16,926 95.000 2,671 2,500 16,926 117,097 109,854 226,951 Page 13
Music24 Notes to the Finaneial Statements for the Year Ended 31 Mareh 2024 (Continued) 6 Expenditure on charitable activities Unrestricted funds General Restricted funds Total 2024 Total 2023 Accounting Software costs Activity/Service Costs AdvertisingPromL)tional Bank Charges Computer Costs DBS Checking Legal and Profegsional Fees Insurances Transaction F¢es Equipment otTiceiGeneral Administrative Eypenses IT & Phone Costs Printing, Pogtage and Statioi)ery Project Managyement RaisingF futjds Refreshmeiits Rent and Room Hire Repairs and Renewals Salaries. Nl & Pensions Sessional Fees Subscription5 Supervision Trgvel and Accommodgtion Freelance Workers Depreciation Website Sundry expenditure Staff costs 32i 22 i45 280 26,083 1,129 26,083 5,872 512 4,743 512 2,694 2,138 251 250 2,247 42i 501 2.247 440 2i7 655 5,423 576 17 2i7 327 328 914 107 148 255 478 2,391 102 612 53 3,003 155 536 2,350 1.127 1.059 20,425 632 607 1.239 2,125 1,600 36 59,267 3,725 36 122,038 62,771 66,415 42,444 275 1.995 17.346 50,395 361 340 84 1.807 478 2i2 710 9,031 41,361 1,209 16.942 72,656 25,973 114,017 1,209 126,617 182,635 309,252 219,886 Page 14
Music24 Notes to the Finaneial Statements for the Year Ended 31 Mareh 2024 (Continued) 7 Net incorningloutgoing resources Net outgoin¥ resources for the year include.. 2024 2023 tkpreciation of fixed assets 1,209 361 8 Staff costs The aggregate payn)11 costs were as follows". 2024 2023 Staff eosts during the year were: Wages and salaries Social security costs Pension costs 114,703 4,927 2,408 65,435 980 122,Oi8 66,415 The Inonthly averdge number of persons {including senior management team) employed by the Chaiity during the year was as follows.. 2024 2023 Average number of employees 2 (2023 2) of the above employees parti¢ipat¢d in the Defined Contribution Pension S¢heme5. Contributions to the employee pension schemes for the year totalled £2,40812023 £980). No employee received emoluments of more than £60,000 during the year The totsl employee benefits of the key management personnel of the charity were £85,074 (2023 - £28,249). 9 Independent examiner's fees During the period, the fees pa)'able (excluding VATI to the charity's independent examiner Community Accounting Plu5 are analysed as follows.. 2024 2023 Independent examination Other fjnancial services 705 670 287 2i9 992 909 Page 15
Music24 Notes to the Finaneial Statements for the Year Ended 31 Mareh 2024 (Continued) 10 Taxation The charity is a registered charity and 15 therefore exempt from taxation. I l Tangible fixed assets Furniture and equipment Computer equipment Total Cost At l April 2023 Additions 1.806 1.74) 1,806 1,497 At 31 March 20?4 3,551 1,497 5,048 Depreciation At l April 2023 Charge for the year 607 710 607 1,209 499 At 31 March 2024 1,317 499 1,816 Net book value At 31 March 2024 2.234 998 i,232 At 31 March 2023 1.199 1,199 12 Dtbtors 2024 2023 Trade debtors Prepayments Other debtors 6,235 12,121 50 8,359 629 18,406 8,988 13 Cash and cash equivalenls 2024 2023 Cgsh on hand Cash at bank 161 58,910 129 95,456 59,071 95.585 Page 16
Music24 Notes to the Finaneial Statements for the Year Ended 31 Mareh 2024 (Continued) 14 Creditors: amounts falling due within one year 2024 2023 Other taxation and social security Other creditors 2.819 1,633 1.303 1,100 4.452 2.403 IS Funds Balance at 31 Mareh 2024 Balance at I April 2023 Incoming resources Resources expended Transfers Unrestricted funds Generul General 55,538 170,286 {126.617) {39,850) 59,357 Restricted fuDd5 Luton Luton- Dementia Luton- Learning Disability Luton - Mental Health Central Beds- Learning Disability Ceniral Beds- Neuro-disability Ceiiiral Beds- Singing Café Bedford- Mental Ilealth 4.837 (4.837) 14,737 4,201 5,574 1,789 5,709 3,794 (26.526) (9,910) (12,475) 3,107 719 5,000 (9,645) 4,356 430 {905) 508 107 137 4,654 9,000 4.534 25,500 (5,434) (5,860) (9.093) 12,802) (29,333) (7,960) (7,090) (11,708) (5,804) (752) (i8,243) 6,202 698 266 930 280 2.662 3.913 866 Bedford- Singing Cafe Herts- Dementia 2.294 10,326 858 5,452 (1,500) 3,201 500 H¢rts - Learning Disability Herts - Mental Healih Herts - Singing Café Outreach - Education Outreach - Training M24 - Project Overheads 3,031 245 6,734 7,793 (930) 7,041 1.463 38,706 1,000 Total restricted funds 47,831 111,854 {182,635) 39,850 16,900 Total funds IO),369 282,140 {309.252) 76,257 Page 17
Music24 Notes to the Finaneial Statements for the Year Ended 31 Mareh 2024 (Continued) Balance at 31 March 2023 Balance at I April 2022 IncorniDg re50uree5 Resources expended Trallsfers Unrestricted fund5 Generftl General 39,386 79,815 (57,129) (6,534) 55.538 Restricted Luton Luton - Mental Health Central Beds- Learning Disability Central Beds- Neuro-disability Cei)tral Beds- Singing Café Bedford- Mental Health 27,51) 4.924 23,000 9,750 (45,676) (11,567) 4,837 3.107 358 4,621 (4,260) 719 1,365 2,000 2,464 2,389 4,780 15,250 9,722 5,750 13,084 (4,734) (3,881) (4.673) (iO:575) (6,896) 14,892) (11,234) (21,823) (1,947) (10.599) (905) 508 107 Herts - Dementia 17,619 7.500 2.294 Herts - Learning Disability Herts - Mentsl Health Herts - Singing Café Outreach - Education Outreach - Training M24 - Project Overheads 858 9,603 28,557 11,453 6,734 7,793 9,740 3,038 1,027 6,534 Total restricted funds 100,466 103,588 {162,757) 6,534 47.831 Total funds 139,852 183,403 {219,886) 103,369 Page 18
Music24 Notes to the Finaneial Statements for the Year Ended 31 Mareh 2024 (Continued) The specific purposes for which the funds are to be applied are as follows.. The specific purposes for which th¢ funds ar¢ io be applied are as follows.. Luton - The purpose of this fund is to support our service provision in Luton, in¢lllding working with Dementig in groiips and l.. I, Mentsl Health & Learning Disabilities. We pay for facilitator fees, room hire, volunteer expenses and staff travel. Dementia Fiinds for a demet]tia setvice are used to rllt] our series of community music programmes. We pay for facilitator fees, rooin hire. voliinteer expenses and staff travel. Leaming Disability - The purpose for this fund 15 the provision of services to adults with leaming disabilities. We pa), for facilitator fees. room hire, volunteer expenses and staff travel. Mental Health for oiir creative music programme. Mind Our Music, 51lPPOrting people with various mental health Conditions. We pay for facilitator fees, room hire, voluiiteei expenses and gtaff travel. Neiiro-disability for our project, The Neurotones Choir, supporting people with various neurological Ltsnditions. such as Stroke and Parkinsons. We pay for facilitator fees, room hire, volunteer expenses and staff travel. Singing Cafe for our programme supporting people with who are elderlylfrail and socially isolated. This prograinme focuses on creatiii¥ social groups and usin¥ singin¥ for wellbeing. We pay for facilitator fees, room hire. volunteer expenses and statytravel. Education for our educational programmes, where we support people to understand and mane their own wellbeing. Training for our training programmes supporting healih and social care professionals and local creativeslartists. Project Overheads This fund supports various overheads and expenditure that supports the running of the charity. This includes project management and admin fees, storage, accountancy and consultancy fees and general office expenses. TheTe are a number of traiisfers be.¢en restricted ndS this year, the PUTP05e of which is to more closely reflect the specific restrictions placed 01) the funding. The transfer from the Generdl fui)d to a i)uinbei of restricted funds is to cower the deficits on these activities. 16 Analysis of net assets between funds Unrestricted 2024 Total funds General Restricted Tangible fixed assets Current assets Current liabilities i,232 60.577 (4,452) 16.900 77.477 (4,452) Total net assets 59.357 16.900 76,257 Page 19
Music24 Notes to the Finaneial Statements for the Year Ended 31 Mareh 2024 (Continued) Unrestricted 2023 Total funds General Restricted Tangible fixed a55ets Current assets Current liabilities 1.199 56.74? (2,403) 1.199 104.573 (2,403) 47.8i I Total net assets 55.5i8 47.831 l Oi,369 17 Related party tran5actlOn5 There were no related party transactiL)ns in the year. 18 Trustees rernuneratioll and expenses No trustees, nor any persons connected with them, have received ally remvneration from the chariry during the year. No thistee5 have received any reimbursed expenses or any other benefits from the charity durin¥ the year. Page 20