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 2024
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 2024
| Page | |||
|---|---|---|---|
| Report of the Trustees | 1 | ||
| Statement of Financial Activities | 2 | to | 3 |
| Balance Sheet | 4 | to | 5 |
| Notes to the Financial Statements | 6 | to | 11 |
| Detailed Statement of Financial Activities | 12 |
THE SARAH NULTY POWER OF MUSIC FOUNDATIO THE SARAH NULTY POWER OF MUSIC FOUNDATION
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 1ST APRIL 2024
The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 1st April 2024. The trustees have adopted the provisions of 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).
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.
REFERENCE AND ADMINISTRATIVE DETAILS
Registered Company number CE021721 (England and Wales)
Registered Charity number
1189296
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 ............................................. 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 2024
| 1.4.24 | 1.4.23 | ||
|---|---|---|---|
| Unrestricted | Total | ||
| fund | funds | ||
| Notes | £ | £ | |
| INCOME AND ENDOWMENTS FROM | |||
| Donations and legacies | 30,827 | 27,477 | |
| EXPENDITURE ON | |||
| Raising funds | 2 | 1,431 | 1,331 |
| Charitable activities | |||
| Mossbrook school Grant | 500 | - | |
| Sheffield Music School | - | 850 | |
| Sheffield One World | - | 450 | |
| The Childrens Hospice | 2,000 | - | |
| Pattern and Push | 2,000 | - | |
| Snow Drop Project | 689 | 500 | |
| Mondo Radio | 2,000 | 500 | |
| Hallam Primary | - | 600 | |
| Under the Stars | |||
| - | 500 | ||
| Lowfield School | - | 500 | |
| Concerteenies | - | 500 | |
| Opera On Location | - | 500 | |
| Hype Dance Company | |||
| - | 500 | ||
| Brightside | |||
| 500 | 500 | ||
| Steel City Choirsters | - | 500 | |
| Runaway Idol | - | 500 | |
| Body of Sound | - | 500 | |
| Ben's Centre | - | 500 | |
| Darnall Dementia | 500 | - | |
| Roundabout | |||
| 500 | - | ||
| South Yorkshire Housing | 500 | - | |
| Bluebell Wood | 2,000 | - | |
| Tapton School | 500 | - | |
| Run For All Ltd | 280 | - | |
| Ritetrax | 500 | - | |
| Grimethorpe Youth Centre | 490 | - | |
| Youth Offenders | |||
| 2,000 | - |
The notes form part of these financial statements
Page 2
THE SARAH NULTY POWER OF MUSIC FOUNDATIO THE SARAH NULTY POWER OF MUSIC FOUNDATION
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 1ST APRIL 2024
| 1.4.24 | 1.4.23 | ||
|---|---|---|---|
| Unrestricted | Total | ||
| fund | funds | ||
| Notes | £ | £ | |
| Theodora Children | 500 | - | |
| Paces Sheffield | |||
| 2,000 | - | ||
| The Voice Academy | |||
| 609 | - | ||
| Other | 7,314 | 5,534 | |
| Total | 26,813 | 14,765 | |
| NET INCOME | 4,014 | 12,712 | |
| RECONCILIATION OF FUNDS | |||
| Total funds brought forward | 45,792 | 33,080 | |
| TOTAL FUNDS CARRIED FORWARD | 49,806 | 45,792 | |
The notes form part of these financial statements
Page 3
THE SARAH NULTY POWER OF MUSIC FOUNDATIO THE SARAH NULTY POWER OF MUSIC FOUNDATION
BALANCE SHEET 1ST APRIL 2024
| 1.4.24 Unrestricted fund Notes £ CURRENT ASSETS Cash at bank 50,526 CREDITORS Amounts falling due within one year 7 (720) NET CURRENT ASSETS 49,806 TOTAL ASSETS LESS CURRENT LIABILITIES 49,806 NET ASSETS 49,806 FUNDS 8 Unrestricted funds 49,806 TOTAL FUNDS 49,806 |
1.4.23 Total funds £ 46,512 (720) 45,792 45,792 45,792 45,792 45,792 |
|---|---|
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 1st April 2024.
The members have not required the company to obtain an audit of its financial statements for the year ended 1st April 2024 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 4
THE SARAH NULTY POWER OF MUSIC FOUNDATIO THE SARAH NULTY POWER OF MUSIC FOUNDATION
BALANCE SHEET - continued 1ST APRIL 2024
These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.
The financial statements were approved by the Board of Trustees and authorised for issue on ............................................. and were signed on its behalf by:
............................................. J Voisey - Trustee
The notes form part of these financial statements
Page 5
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 2024
1. ACCOUNTING POLICIES
BASIS OF PREPARING THE FINANCIAL STATEMENTS
The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the 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)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.
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
Liabilities are recognised as expenditure 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. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Grants offered subject to conditions which have not been met at the year end date are noted as a 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.
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.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
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 2024
2. RAISING FUNDS
RAISING DONATIONS AND LEGACIES
3.
| RAISING DONATIONS AND LEGACIES | ||
|---|---|---|
| 1.4.24 | 1.4.23 | |
| £ | £ | |
| Support costs | 1,431 1,331 |
|
| NET INCOME/(EXPENDITURE) | ||
| Net income/(expenditure) is stated after charging/(crediting): | ||
| Depreciation - owned assets | 1.4.24 £ |
1.4.23 £ - 150 |
4. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 1st April 2024 nor for the year ended 1st April 2023.
TRUSTEES' EXPENSES
There were no trustees' expenses paid for the year ended 1st April 2024 nor for the year ended 1st April 2023.
5. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
| INCOME AND ENDOWMENTS FROM | Unrestricted fund £ |
Unrestricted fund £ |
|---|---|---|
| Donations and legacies | 27,477 | |
| EXPENDITURE ON | ||
| Raising funds | 1,331 | |
| Charitable activities | ||
| Sheffield Music School | 850 | |
| Sheffield One World | 450 | |
| Snow Drop Project | 500 | |
| Mondo Radio | 500 | |
| Hallam Primary | 600 | |
| Under the Stars | ||
| 500 | ||
| Lowfield School | 500 | |
| Concerteenies | 500 | |
| Opera On Location | 500 |
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 2024
5. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued
| Unrestricted | ||
|---|---|---|
| fund | ||
| £ | ||
| Hype Dance Company | ||
| 500 | ||
| Brightside | ||
| 500 | ||
| Steel City Choirsters | 500 | |
| Runaway Idol | 500 | |
| Body of Sound | 500 | |
| Ben's Centre | 500 | |
| Other | 5,534 | |
| Total | 14,765 | |
| NET INCOME | 12,712 | |
| RECONCILIATION OF FUNDS | ||
| Total funds brought forward | 33,080 | |
| TOTAL FUNDS CARRIED FORWARD | 45,792 | |
| 6. | TANGIBLE FIXED ASSETS | |
| COST | Computer equipment £ |
|
| At 2nd April 2023 and 1st April 2024 | 446 | |
| DEPRECIATION | ||
| At 2nd April 2023 and 1st April 2024 | 446 | |
| NET BOOK VALUE | ||
| At 1st April 2024 | - | |
| At 1st April 2023 | - | |
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 2024
7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
| 7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | |||
|---|---|---|---|---|
| 1.4.24 | 1.4.23 | |||
| £ | £ | |||
| Accrued expenses | 720 | 720 | ||
| 8. | MOVEMENT IN FUNDS | |||
| Unrestricted funds | At 2.4.23 £ |
Net movement in funds £ |
At 1.4.24 £ |
|
| General fund | 45,792 | 4,014 | 49,806 | |
| TOTAL FUNDS | 45,792 | 4,014 | 49,806 | |
| Net movement in funds, included in the above are as follows: | ||||
| Unrestricted funds | Incoming resources £ |
Resources expended £ |
Movement in funds £ |
|
| General fund | 30,827 | (26,813) | 4,014 | |
| TOTAL FUNDS | 30,827 | (26,813) | 4,014 | |
| Comparatives for movement in funds | ||||
| Unrestricted funds | At 2.4.22 £ |
Net movement in funds £ |
At 1.4.23 £ |
|
| General fund | 33,080 | 12,712 | 45,792 | |
| TOTAL FUNDS | 33,080 | 12,712 | 45,792 | |
continued...
Page 9
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 2024
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 | 27,477 | (14,765) | 12,712 |
| TOTAL FUNDS | 27,477 | (14,765) | 12,712 |
A current year 12 months and prior year 12 months combined position is as follows:
| Net movement At 2.4.22 in funds £ £ Unrestricted funds General fund 33,080 16,726 TOTAL FUNDS 33,080 16,726 |
At 1.4.24 £ 49,806 49,806 |
|---|---|
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
| Unrestricted funds | Incoming Resources resources expended £ £ |
Movement in funds £ |
|---|---|---|
| General fund | 58,304 (41,578) |
16,726 |
| TOTAL FUNDS | 58,304 (41,578) |
16,726 |
continued...
Page 10
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 2024
9. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 1st April 2024.
Page 11
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 2024 | |||
| 1.4.24 | 1.4.23 | ||
| £ | £ | ||
| INCOME AND ENDOWMENTS | |||
| Donations and legacies | |||
| Gifts | 1 | - | |
| Donations | 30,826 | 27,477 | |
| 30,827 | 27,477 | ||
| Total incoming resources | 30,827 | 27,477 | |
| EXPENDITURE | |||
| Charitable activities | |||
| Grants to institutions | 18,068 | 7,900 | |
| Other | |||
| Direct costs | 7,314 | 5,384 | |
| Computer equipment | - | 150 | |
| Support costs | 7,314 | 5,534 | |
| Management | |||
| Postage and stationery | 65 | 125 | |
| Advertising | 500 | 307 | |
| Finance | 565 | 432 | |
| Bank charges | - | 33 | |
| Governance costs | |||
| Accountancy and legal fees | 866 | 146 | |
| Accountancy fees | - | 720 | |
| 866 | 866 | ||
| Total resources expended | 26,813 | 14,765 | |
| Net income | 4,014 | 12,712 | |
This page does not form part of the statutory financial statements
Page 12