2022-04-01-accounts - The Sarah Nulty Power Of Music Foundation

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REGISTERED COMPANY NUMBER: CE021721 (England and Wales)
REGISTERED CHARITY NUMBER: 1189296

`REPORT OF THE TRUSTEES AND`

`UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 1ST APRIL 2022`

FOR

THE SARAH NULTY POWER OF MUSIC FOUNDATIO
THE SARAH NULTY POWER OF MUSIC
FOUNDATION

Morton Bradley Limited
Unit 4a
Rutland Way
Sheffield
South Yorkshire
S3 8DG

THE SARAH NULTY POWER OF MUSIC FOUNDATIO
THE SARAH NULTY POWER OF MUSIC
FOUNDATION

`CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 1ST APRIL 2022`

		`Page`
`Report of the Trustees`		`1`
`Statement of Financial Activities`		`2`
`Balance Sheet`	`3`	`to`	`4`
`Notes to the Financial Statements`	`5`	`to`	`9`
`Detailed Statement of Financial Activities`		`10`

`THE SARAH NULTY POWER OF MUSIC FOUNDATIO THE SARAH NULTY POWER OF MUSIC FOUNDATION`

`REPORT OF THE TRUSTEES FOR THE YEAR ENDED 1ST APRIL 2022`

ThetrusteeswhoarealsodirectorsofthecharityforthepurposesoftheCompaniesAct2006,presenttheirreport with
thefinancialstatementsofthecharityfortheyearended1stApril2022.Thetrusteeshaveadoptedtheprovisions of
AccountingandReportingbyCharities:StatementofRecommendedPracticeapplicabletocharitiespreparing their
accountsinaccordancewiththeFinancialReportingStandardapplicableintheUKandRepublicofIreland(FRS 102)
(effective 1 January 2019).

`STRUCTURE, GOVERNANCE AND MANAGEMENT`

`Governing document`

Thecharityiscontrolledbyitsgoverningdocument,adeedoftrust,andconstitutesalimitedcompany,limited by
guarantee, as defined by the Companies Act 2006.

`REFERENCE AND ADMINISTRATIVE DETAILS`

`Registered Company number`

CE021721 (England and Wales)

`Registered Charity number`

`Registered office`

66 Mossdale Road
Leicester
LE3 2US

`Trustees`

Mrs J Voisey
Miss D M Gigg
Miss A Martin

`Company Secretary`

Approved by order of the board of trustees on 31st January 2023 and signed on its behalf by:

Mrs J Voisey - Trustee

Page 1

`THE SARAH NULTY POWER OF MUSIC FOUNDATIO THE SARAH NULTY POWER OF MUSIC FOUNDATION`

`STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 1ST APRIL 2022`

			`PERIOD`
			`30.4.20`
		`YEAR ENDED`	`TO`
		`1.4.22`	`1.4.21`
		`Unrestricted`	`Total`
		`fund`	`funds`
	`Notes`	`£`	`£`
`INCOME AND ENDOWMENTS FROM`
`Donations and legacies`		`40,645`	`5,823`
`EXPENDITURE ON`
`Raising funds`	`2`	`2,158`	`1,433`
`Charitable activities`
`Mossbrook school Grant`		`-`	`279`
`Sheffcare Ltd Grant`		`-`	`636`
`Sheffield Music School`		`1,317`	`-`
`Sheffield One World`		`300`	`-`
`The Childrens Hospice`		`500`	`-`
`Stanington Mixed`		`500`	`-`
`Norfolk Community`		`315`	`-`
`Pattern and Push`		`500`	`-`
`Other`		`5,301`	`149`
`Total`		`10,891`	`2,497`
`NET INCOME`		`29,754`	`3,326`
`RECONCILIATION OF FUNDS`
`Total funds brought forward`		`3,326`	`-`
`TOTAL FUNDS CARRIED FORWARD`		`33,080`	`3,326`

The notes form part of these financial statements

Page 2

`THE SARAH NULTY POWER OF MUSIC FOUNDATIO THE SARAH NULTY POWER OF MUSIC FOUNDATION`

`BALANCE SHEET 1ST APRIL 2022`

1.4.22
Unrestricted
fund
Notes
£
FIXED ASSETS
Tangible assets
6
150
CURRENT ASSETS
Cash at bank
33,651
CREDITORS
Amounts falling due within one year
7
(721)
NET CURRENT ASSETS
32,930
TOTAL ASSETS LESS CURRENT LIABILITIES
33,080
NET ASSETS
33,080
FUNDS
8
Unrestricted funds
33,080
TOTAL FUNDS
33,080 1.4.21
Total
funds
£
297
3,629
(600)
3,029
3,326
3,326
3,326
3,326

ThecharitablecompanyisentitledtoexemptionfromauditunderSection477oftheCompaniesAct2006forthe year
ended 1st April 2022.

Themembershavenotrequiredthecompanytoobtainanauditofitsfinancialstatementsfortheyear ended
1st April 2022 in accordance with Section 476 of the Companies Act 2006.

`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 give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.

The notes form part of these financial statements

continued...

Page 3

`THE SARAH NULTY POWER OF MUSIC FOUNDATIO THE SARAH NULTY POWER OF MUSIC FOUNDATION`

`BALANCE SHEET - continued`

`1ST APRIL 2022`

Thesefinancialstatementshavebeenpreparedinaccordancewiththeprovisionsapplicabletocharitable companies
subject to the small companies regime.

The financialstatementswere approvedby the Boardof Trusteesand authorisedfor issue on 31st January2023 and were
signed on its behalf by:

J Voisey - Trustee

The notes form part of these financial statements

Page 4

`THE SARAH NULTY POWER OF MUSIC FOUNDATIO THE SARAH NULTY POWER OF MUSIC FOUNDATION`

`NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 1ST APRIL 2022`

`1. ACCOUNTING POLICIES`

`BASIS OF PREPARING THE FINANCIAL STATEMENTS`

Thefinancialstatementsofthecharitablecompany,whichisapublicbenefitentityunderFRS102,have been
preparedinaccordancewiththeCharitiesSORP(FRS102)'AccountingandReportingbyCharities:Statement of
RecommendedPracticeapplicableto charitiespreparingtheir accountsin accordancewith the Financial Reporting
StandardapplicableintheUKandRepublicofIreland(FRS102)(effective1January2019)',Financial Reporting
Standard102'TheFinancialReportingStandardapplicableintheUKandRepublicofIreland'andthe Companies
Act 2006. The financial statements have been prepared under the historical cost convention.

`INCOME`

All incomeis recognisedin the Statementof FinancialActivitiesonce the charityhas entitlementto the funds,it is
probable that the income will be received and the amount can be measured reliably.

`EXPENDITURE`

Liabilitiesarerecognisedasexpenditureassoonasthereisalegalorconstructiveobligationcommitting the
charitytothatexpenditure,itisprobablethatatransferofeconomicbenefitswillberequiredinsettlement and
the amountof the obligationcanbe measuredreliably.Expenditureis accountedforon an accrualsbasisand has
beenclassifiedunderheadingsthataggregateallcostrelatedtothecategory.Wherecostscannotbe directly
attributedtoparticularheadingstheyhavebeenallocatedtoactivitiesonabasisconsistentwiththeuse of
resources.

Grantsofferedsubjecttoconditionswhichhavenotbeenmetattheyearenddatearenotedasa commitment
but not accrued as expenditure.

`TANGIBLE FIXED ASSETS`

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Computer equipment- 33% on cost

`TAXATION`

The charity is exempt from corporation tax on its charitable activities.

`FUND ACCOUNTING`

Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.

Restrictedfundscanonlybe usedforparticularrestrictedpurposeswithinthe objectsof the charity. Restrictions
arise when specified by the donor or when funds are raised for particular restricted purposes.

Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.

continued...

Page 5

`THE SARAH NULTY POWER OF MUSIC FOUNDATIO THE SARAH NULTY POWER OF MUSIC FOUNDATION`

`NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 1ST APRIL 2022`

`2. RAISING FUNDS`

`RAISING DONATIONS AND LEGACIES`

`RAISING DONATIONS AND LEGACIES`
		`PERIOD`
		`30.4.20`
	`YEAR ENDED`	`TO`
	`1.4.22`	`1.4.21`
	`£`	`£`
`Support costs`	`2,158`		`-`

`3. NET INCOME/(EXPENDITURE)`

Net income/(expenditure) is stated after charging/(crediting):

		`PERIOD`
		`30.4.20`
	`YEAR ENDED`	`TO`
	`1.4.22`	`1.4.21`
	`£`	`£`
`Depreciation - owned assets`	`147`	`149`

`4. TRUSTEES' REMUNERATION AND BENEFITS`

There were no trustees'remunerationor other benefitsfor the year ended 1st April 2022 nor for the period ended
1st April 2021.

`TRUSTEES' EXPENSES`

There were no  trustees' expenses paid for the year ended 1st April 2022 nor for the period ended 1st April 2021.

`5. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES`

`COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES`
	`Unrestricted`
	`fund`
	`£`
`INCOME AND ENDOWMENTS FROM`
`Donations and legacies`	`5,823`
`EXPENDITURE ON`
`Raising funds`	`1,433`
`Charitable activities`
`Mossbrook school Grant`	`279`
`Sheffcare Ltd Grant`	`636`
`Other`	`149`
`Total`	`2,497`

continued...

Page 6

`THE SARAH NULTY POWER OF MUSIC FOUNDATIO THE SARAH NULTY POWER OF MUSIC FOUNDATION`

`NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 1ST APRIL 2022`

`5.`	`COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued`
		`Unrestricted`
		`fund`
			`£`
	`NET INCOME`	`3,326`
	`TOTAL FUNDS CARRIED FORWARD`	`3,326`
`6.`	`TANGIBLE FIXED ASSETS`
		`Computer`
		`equipment`
		`£`
	`COST`
	`At 2nd April 2021 and 1st April 2022`		`446`
	`DEPRECIATION`
	`At 2nd April 2021`		`149`
	`Charge for year`		`147`
	`At 1st April 2022`		`296`
	`NET BOOK VALUE`
	`At 1st April 2022`		`150`
	`At 1st April 2021`		`297`

continued...

Page 7

`THE SARAH NULTY POWER OF MUSIC FOUNDATIO THE SARAH NULTY POWER OF MUSIC FOUNDATION`

`NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 1ST APRIL 2022`

`7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR`

	`1.4.22`	`1.4.21`
	`£`	`£`
`Trade creditors`	`1`	`-`
`Accrued expenses`	`720`	`600`
	`721`	`600`

`8. MOVEMENT IN FUNDS`

`MOVEMENT IN FUNDS`
		`Net`
		`movement`	`At`
	`At 2.4.21`	`in funds`	`1.4.22`
	`£`	`£`	`£`
`Unrestricted funds`
`General fund`	`3,326`	`29,754`	`33,080`
`TOTAL FUNDS`	`3,326`	`29,754`	`33,080`
`Net movement in funds, included in the above are as follows:`
	`Incoming`	`Resources`	`Movement`
	`resources`	`expended`	`in funds`
	`£`	`£`	`£`
`Unrestricted funds`
`General fund`	`40,645`	`(10,891)`	`29,754`
`TOTAL FUNDS`	`40,645`	`(10,891)`	`29,754`

`Comparatives for movement in funds`

	`Net`
	`movement`	`At`
	`in funds`	`1.4.21`
	`£`	`£`
`Unrestricted funds`
`General fund`	`3,326`	`3,326`
`TOTAL FUNDS`	`3,326`	`3,326`

continued...

Page 8

`THE SARAH NULTY POWER OF MUSIC FOUNDATIO THE SARAH NULTY POWER OF MUSIC FOUNDATION`

`NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 1ST APRIL 2022`

`8. MOVEMENT IN FUNDS - continued`

Comparative net movement in funds, included in the above are as follows:

	`Incoming`	`Resources`	`Movement`
	`resources`	`expended`	`in funds`
	`£`	`£`	`£`
`Unrestricted funds`
`General fund`	`5,823`	`(2,497)`	`3,326`
`TOTAL FUNDS`	`5,823`	`(2,497)`	`3,326`

`9. RELATED PARTY DISCLOSURES`

There were no related party transactions for the year ended 1st April 2022.

Page 9

`THE SARAH NULTY POWER OF MUSIC FOUNDATIO THE SARAH NULTY POWER OF MUSIC FOUNDATION`

`DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 1ST APRIL 2022`

		`PERIOD`
		`30.4.20`
	`YEAR ENDED`	`TO`
	`1.4.22`	`1.4.21`
	`£`	`£`
`INCOME AND ENDOWMENTS`
`Donations and legacies`
`Donations`	`39,047`	`5,502`
`Gift aid`	`1,598`	`321`
	`40,645`	`5,823`
`Total incoming resources`	`40,645`	`5,823`
`EXPENDITURE`
`Charitable activities`
`Grants to institutions`	`3,432`	`879`
`Other`
`Direct costs`	`5,154`	`-`
`Computer equipment`	`147`	`149`
	`5,301`	`149`
`Support costs`
`Management`
`Postage and stationery`	`323`	`-`
`Advertising`	`646`	`491`
`PPE`	`-`	`342`
	`969`	`833`
`Finance`
`Bank charges`	`349`	`36`
`Governance costs`
`Accountancy fees`	`840`	`600`
`Total resources expended`	`10,891`	`2,497`
`Net income`	`29,754`	`3,326`

This page does not form part of the statutory financial statements

Page 10