Docusign Envdope ID.. 582DcBc>EE14416E.81DA-8AAB&4ACD42 Charity registration number 1187484 (England and Wal> Company reglstrntlon nUMr 11989947 SOUND ROOMS LTD ANNLIAL REPORT ANO LINAUOITED FINANCIALSTATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024
Docusign Envdope ID.. 582DcBc>EE14416E.81DA-8AAB&4ACD42 SOUND ROOMS LTD LEGAL AND ADMINISTRATIVE INFORMATION Dlrèetors MrCECade Mr P ChNers MrA Comben Secretary MrSCDanc Chority number IEngland and Wales) 1187484 Company numb•r 11989947 R•glster•d offlc• Kintyre House 70 High Street Fareham Hampshire Uniled Kingdom P016 76B Ind•pend•nt •xamln•r Alliott Wngham Limited Kintyre House 70 High stet FahaM Hampshire P016 7B8
Docusign Envdope ID.. 582DcBc>EE14416E.81DA-8AAB&4ACD42 SOUND ROOMS LTD CONTENTS Page Directors. report Independent examiners report Statement of financjal activities Balance sheet Notes lo the fin8n¢ial stslemenls
Docusign Envdope ID.. 582DcBc>EE14416E.81DA-8AAB&4ACD42 SOUND ROOMS LTD DIRECTORS, REPORT (INCLUDING DIRECTORS, REPORT FOR THE YEAR ENDED 31 AUGUST 2024 The directors present their annual report and financial ststements for the year ended 31 August 2024. The financial statements have been prepared in accordanc£ with the accountsng poliaes set out in note 1 to the financial staternents and compty with the chanty's governing document daled 21 January 2021, the Companies Act 2006 and Awounting and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparing their accounts in accordance with th8 Fin8nixal Reporting Standaid Applicable in the UK and Republic of Ireland IFRS 1021" (effective 1 January 20191. Oblectlves and actlvltles PubliG benefit The directors have paid due regard lo guidance issued by the Charity Commission in derAding what activities the charity should undertake. Activilies Sound Rooms provides inclusive music education and Iraining to chiklren. young people and adults across 8Tighlon and beyond. Young people. especialfy those with SEND. face many barriers to playing rnusic rnainty due to a lack of opportunrties to develop their music skills. Sound Rooms is a unique and excrting development which will tackle these barriers by driving a slep ch8n9e in music education. Aehl•vém•nts and rf0mlan¢• SignifiG8nt 8Gtivities 8nd 8chi8vernenls againsl objectives Flnanclal r•vl•w Reserves poli¢y It is the policy of the charity that unrestricled funds which have nol been designated for a specific use should be maintained at a level equivalent to beh¥een three and SIX month's expendl1u. The directors consider that reserves al this level will ensure that. in the event ol a significant drop in funding. Ihey will be able to continue Ihe charity's current aetivities while ¢onsider81ion is given to w8y$ in vthi¢h addrtional fvnds may be raised. This level of Seo$ has been maintained throughout Ihe year. Structure, gov•mane• and manag•m•nt The charity is a company limited by guarantee. The diredors who $erv&d during lh& year and up lo the date of SnatUre ofthe finanu81 $lal&menls w¥r¥.' MrCECade Mr P Chivers MrA Comben R8Cftlltment antl &ppoinEment oltftASt8ès None of Ihe directors has any beneficial interest in the company. All of the d1CtorS are members ol the company and guarantee to conlribule £1 in the event of a winding up. The company's current poliry conceming the payrnent of tiade credilors is to follow the CBI'$ Prompt P8y&r5 Cod& leopiès arè 8vai18blÈ from thè CBI, Centre Point, 103 Nèw Oxford Streèt. London WC1A 1 DU}. The company's current policy ConMIng the payment of trade credrtors is to.. settle the terms of payment with suppliers when ageIng the tenns of each transaction,. ensure thal suppliers are made aware of the tenn5 of payment by indvsion of Ihe relevant temis in contracts.. and pay in accordance with the companvs contractual and other legal obligations.
Docusign Envdope ID.. 582DcBc>EE14416E.81DA-8AAB&4ACD42 SOUND ROOMS LTD DIRECTORS, REPORT (INCLUDING DIRECTORS, REPORTI {CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2024 The directors, report W8s approved by the Board of Ditectors. MrCECade Dlr•etor 31-05-2025 Date..
Docusign Envdope ID.. 582DcBc>EE14416E.81DA-8AAB&4ACD42 SOUND ROOMS LTD INDEPENDENT EXAMINER'S REPORT TO THE DIRECTORS OF SOUND ROOMS LTD I report to the directors on my examinalth) of the finanoal statements of Sound Rooms Lld (the chartyl for the year ended 31 August 2024. Responsibilities and basis of report As the directors of the charity land also its directors for the purposes of company lawl, you are responsible for the preparation of the financial statements in accordan with the requirements ol the CoMpanS Act 2006. Having satisfied myself that the financial statements of Ihe charity are not required to be audrted under Part 16 of the Cornpanies Act 2006 and are eligible lor independent examination. I report in respect of my examination of the harity's financial stslemenls carried oul under section 145 of the Charibes Act 2011. In carrying out my examination I h8vÈ followed thè Directions givèn by thè Charity CommissK>n undèr sèction 14515llbl of the Charities Act 2011. Independènt •xamIn•8 statement I have completed my examination. I confirm that no matters have ¢omtr io my atteniion in rtneCtion with th xamination giving me ¢ause lo believe thal in any malerial Sp&'. accounting records were not kept in respect of the charity as required by section 388 01 the Companie5 Act 2006. the financial statements do not accord with Ihose records., or the fin8n¢i81 slalernenls do noi ¢ornpty with Ihe a¢counling requirements of section 396 01 the Companie$ Act 2006 other than any requirement Ihal the financial $tslem¢nl$ give a Iwe and fair vi¢w, whith is not a matter considered as part ol an indepen¢Jent examination.. or the financial staternents have not been prepared in accordance wrth ihe methods and prinriples of the Slalernenl of Recommended Pr8di¢tr for a¢¢ounling and reporting by ¢h8rrtie$ applicable lo charities preparing their financial statements in 8¢cordan¢& wlh the Finan¢ial R¥porting Slan¢Jard opplicgble in th¥ VK and Republic ol Ireland IFRS 1021. I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order lo enable a proper understanding of the financial statements to be reached. Alllott Wlngham Llrnlted Kintyre House 70 High Street Fareham Hampshire P016788 27-05-2025 Date..
Docusign Envdope ID.. 582DcBc>EE14416E.81DA-8AAB&4ACD42 SOUND ROOMS LTD STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 AUGUST 2024 Unrestrtcted fund# 2024 Unrestrlcted funds 2023 Not•s Income from: Charitablè 8Ctivitiès 45,290 50,158 Total Ineom• 45,290 50,158 Expendlture on.. Charitable expenditure 30,414 27,714 Totsl •xp•ndltuM 30,414 27,714 N•t Incom• and mov•m•nt In fund8 14,876 22,444 Reconclllatlon ol funds: Fund b8lan¢e$ a11 Sepl¥mber 2023 30,449 8,005 Fund balanc•• at 31 Augu8t 2024 45,325 30,449 Th¥ $talemenl of finan¢i81 a¢tivib&s indudes 011 gains and losses re¢ognis*d in the y¢ar. All in¢om& an¢J expenditu darlve from continuing activitiès.
Docusign Envdope ID.. 582DcBc>EE14416E.81DA-8AAB&4ACD42 SOUND ROOMS LTD BALANCE SHEET AS AT31 AUGUST2024 2024 2023 Notes Currènt ass•ts Cash at bank and in hand 70.317 43.266 Crèdltors.. arnounts falllng du• vAthln onè yèar 124.992) 112.8171 Nèt eurr•nt a8sets 45,325 30,449 Thè funds of thè charlty Unrestricted funds 45.325 30.449 45.325 30,449 The company is entitled to the exemption Irom the audrt requ1Ment fAJntained in section 477 of the Companies Act 2006, for the year ended 31 August 2024. The directors acknowledge their responsi.110¥ lor comptying wilh the wuiremtrnts of Ihtr Companie$ Ad 2006 vAth respect to accounting rècords and thè prèparation of finanual statemènts. The members have not required the company lo obtain an audit of its finanaal statements for the year in question in accordance with section 476. These financial 5talements have been prepared in arA))Tdance with the provision6 applicable to companies subject lo the small companies regime. 31-05-2025 The flnan¢lal stateménts waro approvèd by the directors on ......................... MrCECade Dir•etor Company registration number 11989947 IEngland and Wales)
Docusign Envdope ID.. 582DcBc>EE14416E.81DA-8AAB&4ACD42 SOUND ROOMS LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024 Aecountlng pollel•s Charfty Snforniatlon Sound Rooms Ltd is a pnvate company limited by guarantee incorporated in England and Wdles. The registered office is Kintyre House, 70 High Street. Fareham. Hampshire, P016 7BB, United Kingdom. 1.1 Accounting convention The financial statements have beèn prepared in accordancè vAth thè charity's goveming documènt, thè Companies Act 2006, FRS 102 "The Finanaal Reporting Standard applicable in the UK and Republic of Ireland I"FRS 102.1 and the Charities SORP "Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charitS preparing Iheir accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic ol Ireland IFRS 1021. leffeclive 1 January 20191. The charity is 8 Public Benefit Entity as defined by FRS 102. The charity has taken advantage of the provision$ in the SORP for charities not to prepare a Statement of Cash Flows. The financial statements are prepared in steding. which is the funcb'onal oJThenry of the charity. Monetary arnounts in these financial statements are rounded lo the nearest £. The financial statements he been prepared under Ihe historical cosl convention. The principal accounting poli¢i¢s adopied ar¢ s&1 out below. 1.2 Golng conc•m At the lime of approving the finènci81 st8lemenls. the direclors have a re•sonable expectation that the charity has adequate r&sour¢e$ io Continue in Opera081 existence for the foSeèablè luture. Thus the dir&¢lors ¢onlinu¥ lo adopt th$ 90ing ¢on¢sm basb$ of a¢Unn9 in prgparing Ihg finanual $tat&m$nls. 1.3 Charltable funds Unrestricted funds are availab18 for use at the discretion of the d1CLorS in lurtherance of their charitable objectives. Restricted funds are subject to specffic condil¥)ns by donors or grantors as to how Ihey may be used. The purposes and uses of the restricied lunds are set out in the notes to the finanaal statements. Endowment lunds are subject to specthc condrtions by donors that the capital must be maintained by the chanty. 1.4 Incom• Income is recognised when the charity is legalty enlilled to it after any perfomiance conditions have been rnet. the arnount5 can be rneasured reliabty. and rt 15 probable thal income will be received. Cash donations are recognised on receipt. Other donations a recognised once the charty has been nots'fied of the donation. unless perforniance conditions require deferral of the amount. Income tax recoverable in relation to donations receNed under GfftAKI or deeds of covenant is re(nised 8t Ihe time of the don8tion. Legacies are recognised on receipt or olhewse il the charity has been nolified of an irnpending distribution. the amount is known. and receipt is expected. If the amount is not known. the legacy is treated as a contingent asset.
Docusign Envdope ID.. 582DcBc>EE14416E.81DA-8AAB&4ACD42 SOUND ROOMS LTD NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2024 Accounting policies (Continuedl 1.5 Exp•ndltur• Eypenditure is recognised once Ihere is a legal or constructive obligation to Iransfer economic benefit to a third paty. r( is probable that a transfer of enOMiC benefits will be iequired in settlement, and the amount of the obligation can be rneasured reli8bty. Expenditure is dassified by athvty. The costs of each adivrty are made up of the total of direct costs and shared costs. including support costs involved in undertaking each acbvity. Direcl costs attributable to a single activity are allocated directy to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned befvleen those activitie5 on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent. and depreciation charges are alk)raleiJ on the portion of the assel's us&. 1.6 Ca8h and cash equlvalents Cash and cash equivalents Include cash In hand, deposrts held at call with banks. other short-term liquid investments wlh original maturities of the months or less, and bank overdrafts. Bank overdrafts are shown wrthin borrowngs in current liabilities. 8•$1¢ fln•ncl•l •$$ets Basic finanaal assets. which indude debtors and cash and bank balances. are initially measured at transaction price including transaction costs and are subsequentty carried al amortised cost using the effective interest method unles5 the arrangemenl constilules a financing transaction. where the transaction is measured at the presenl value ol Ihe Ire receip15 di5counled 8t a market rate of in¢erest. Financial assets ¢18ssified 8$ receivable within one year are not amortised. B•sle flnanclal Ilabllltl•s Basic financial liabilities. induding credrtors and bank loans are inrtially recognised at transaction price unless the arrangement conslilules a fin8ncing Irans8Ction. where the debt inslwmenl is measured 81 the present value ol the luture payments discounted at a market ratè of interèst. Finanaal Iiabilititss classifièd as payable whhln one year are not amortised. Debt instruments are subsequentty carried at amortised cosl. using the effective interest rate method. Trade creditors are obligations lo pay lor goods or services thal have been acquired in the orllinary course of operations from suppliers. Amtsunts payable are d4s5ified as Curtent li8bilitie$ if payment is due wthin one y68r or lèss. If not. they are presented as non-current liabilities. Tr8de credittsrs 8r8 iecognisèd inrtially at transacth)n price and subsequentty measured at anw)rtised cost using the effectsve interest method. D•rncognidon of financlal Ilabiliti•s Financial liabilities ar8 delenIsed vthèn th& charity's Contractual obligation$ Èxpiie or a di$¢hargÉd or cancelled. 1.7 Employee beneffts The cost of any unused holiday 8ntrflernent is re¢ognised in th8 petiod in vthith th8 employee's setv¢e$ arg received. Termination beneffts are recognised immediatety as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide temiinalion benefits.
Docusign Envdope ID.. 582DcBc>EE14416E.81DA-8AAB&4ACD42 SOUND ROOMS LTD NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2024 Ineom• from eharltable aetlvltl•s Unf•sttte funds 2024 Unrèstrletad funds 2023 Income Sale ol good$ 45,290 50,158 Expendlture on charltsble actlvltl•8 Charltable Charftabl? Expendlture Expendlture 2024 2023 DSrect costs Cl¥aning Computer Insurance Telephone Sundry A¢counlan¢y Power. Light & Heat Legal & Professional lees Printing, Postage & StaInary 14,415 498 2,841 72 13 775 12,(KJO 13,571 450 2,342 78 13 525 9,748 24 30.414 27,714 Analy$l$ by fvnd Unrestricted funds 30,414 27,714 Dlr•ctorn None ol the directors lor any persons connected wrth them) received any remuneration or benefrts from the charity during the year. Employeès The average monthty number of employees during the yearwas= 2024 Number 2023 Number There were no employees whose annual remuneration was more than £80.IXJO.
Docusign Envdope ID.. 582DcBc>EE14416E.81DA-8AAB&4ACD42 SOUND ROOMS LTD NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2024 Taxatlon The chanty is exempt from taxation on its activities because all its income is appld for charitable purposes. Loans and overdrafts 2024 2023 DSrectors' loans 592 592 Payablè within one yeor 592 592 Credltor8'. arnounts falllng due wlthln one year 2024 2023 Borrowlngs Accruals and deferred income S92 24.400 592 12,225 24.992 12,817 Unrestrlcted funds The unrestri¢led fvnds ol the ¢haTity ¢omprise the unexpentled b818n¢es of don8lTon$ and grants which are not subject lo specific conditions by donors and 9rantofs a$ to how they may be used. These in¢lude designated funds which have been set ade out ol unrestricted funds by Ihe trustees for specific purposes. At1 September 2023 Incomlng resourceo Resources At 31 August expended 2024 General funds 30.449 45.290 130.4141 45,32S Prevlous year: At1 September 2022 Incomlng resourceg Regources At 31 August expended 2023 Gener81 fvnds 8.005 50.158 127.7141 30.449 10 Related party transactlons There were no di5closable related party Iransadions during the year12023- none).