Sound Roots
Charlty No. 1192Q64
Company No. 09929705
Trustees, Report and Unaudited Atcounts
31 December 2024

Sound Roots
Contents
Pages
Trustees, Annual Report
Independent Examiner's Report
Statement of Financial Activities
Summary Income and Expenditure Account
Balance Sheet
io
li
Statement of Cash flows
12
Notes to the Accounts
13
Detailed Statement of Financial Activities
20to21
Page I

Sound Roots
Trustees Annual Report
Sound Roots
The trustees, who are also directors of the charity for the purposes of the Companies Act 2006,
present their report with the unaudrted financial statements of the charity for the year ended 31
December 2024.
REFERENCE AND ADMINISTRATIVE DETAILS
Company No. 09929705
Charity No. 1192064
Reg15tered Offl¢e
109A Church Street
Littleborough
OL15 8AA
Dlrertors and Trustees
The Dirertors of the charitable company are its Trustees for the purposes of charity law.
The following Direttors and Trustees served during the year:
Katherine Bennet
Alexandria Carr
Louisa Davies-Foley
joanna Frost
Freyja Handy
Richard Haswell
Jennie Higgins
Joanne Kay
Molly Rutter
Thomas Shallaker
Gavin Sharp
Hanna Toomis
Kellie While
Company Secretsry
David Agnew
Thomas Be5ford
Appointed on 28 October 2024
Resigned on 28 Ortober 2024
Accountants
Pennine Accounting Limited
109A Church Street
Littleborou8h
Lancashire
OL15 8AA
Page 2

Sound Roots
Trurtees Annual Report
Introdurtlon by the Chalr
Following the changes of 2023 when we updated the name of the Charity to better reflect our growing rernit,
2024 also had major changes for our charity in terms of staffing. We welcomed a new CEO who will continue
to ensure the charity delivers the annual showea5e forfolk. roots and acoustic music IEngli5h Folk Expo) and
the other work programmes including Manchester Folk Festival. the OfFicial Folk Albums Chart and talent
development strands includlng showcasing. The trustees are grateful to Tom Besford who as CEO has Put in
place the foundations for an organi5ation with great Posttive impact for our artists. partners and audiences.
In this year we did not delNer our usual programme of activity due to the succes5 of bringing WOMEX to
Manchester. In our usual showcase weekend October we were the local production partner for this
international touring showcase event bringing 2800 delegates to the crty in partnership with Manchester
Music City and Manchester City Council. WOMEX 2024 in Manchester has been hailed as one of the most
successful in 30 years of WOMEX- particularly in terms of quality of produrtion and accessibility. Our artistic
director (now CEOI joined a prestigious global jury of 7 in selerting the programme. The event has not only
developed our profile (both regionally and globally) and skills but provided income for Sound Roots to allow
us to sustain our regular programme {English Folk Expo and Manchester Folk Festival) in its new annual slot
in March.
Having found great benefit in sharing office space with Brighter Sound during the planning and delivery stage
of Womex, we took the decision to extending use on a Monday and Tuesday. Having the time together in the
same office has been really beneficial to the team especially w¢th the staff thanges we've gone through.
Our talent development work is now articulated throughout our programmes offering career progression for
artists and industry at all stages with Sound Roots Connect. Emerging stages, international exchanges,
showcasing and our Artist Mentoring Pathway- now part of the PRSF Talent Development Network and
5UPPOrted by Jerwood Foundation for 2 years.
We continue to present the monthly Folk Albums Chart supporting artists wtth their recorded release5 now
reachine 80LK) audience eath month online.
As planned, we did a soft launch of Sound Roots Connect in 2024 offering complimentary 3 months
memberships to encourage people to sign up. we have p strong business plan we are worklng on antt wlll
continue to develop membership over the next year.
We are grateful for our 5UPPQrt from Arts Council England and Greater Manchester Combined Authority-
both financially and in continuing to develop our work in relevance to strategic planning. We take pride in
our leadership on Inclusivity and climate change response within the folk music communwty and industry.
I wovld like to take this opportunity to thank my fellow Tnjstees. the Sound Roots team. our fantastic
funders. artists and their teams. and the public audiences who have continued to support our work.
Kellie Whlle, Chair
Page 3

Sound Roots
Trustees Annual Report
oBJE￿IVEs AND AcnvmES
Public benefit
English Folk Expo provides publi¢ benefft by advancing the public's appreciation of the art of folk musit. We
achieve this by=
al providing folk music acts with the opportunity to be able to perform at concerts. festiva15 and other
events- and
bl Increasing public acce55 and exposure to folk music through developin& promoting and encouraging its
prattice.
The term "folk music" includes both conteMpo￿ry and traditional forms.
ACHIEVEMENTS AND PERFORMANCE
WOMEX
WOMEX- Worldwide Music Expo- is the world's largest and most important international showcase and
conference focused on global majority music of every kind- Irom music from the folk and jazz traditions to
urban and elertronic sounds from all over the globe. Each year, WOMEX hosts 8 stages (the majority also
open to a public audience). a trade fair Ifeaturing 650+ exhibitors). a lively conference programme. films, and
an award ceremonv.
In 2024, WOMEX'S 30th edition. Manchester hosted the event in the UK for the first time in 10 years. Sound
Roots played a key strategic role in bringing partnerships and funding together to host this prestigious event.
We welcomed over 2,800 delegates from 56 countrie5 and invited Greater Manchester residents to be part
of the experience- with over 150 local volunteers contributing to its delivery. Public audiences filled iconic
venues across the city and engaged in more than 50 performances, 18 music documentaries and multiple
outreach events.
English Folk Expo
Due to the move from Ortober to March an edition of English Folk Expo did not take place in 2024. However
the year saw much work in developing international partner5hip51 programme and delegate sales for March
2025 against an increasingly thallenging international music export environment. While beneficial to Sound
Roots as a whole, WOMEX in Manchester proved a challenge in bringing delegates and export agencies back
to Manchester for English Folk Expo 2025.
Manchester Folk Festivèl
Due to moving date5 and the team working on the delivery of Womex Manchester Folk Festival didn't go
ahead but planning was already going on in terms of programme and production. Working toward5 our
seconil year in Northern Quarterl Ancoats has been positive based on a very successful festival in October
2023 although advance ticket sales continue to be a concern.
Page 4

Sound Roots
Trustees Annual Report
PEI Artist Exchange
We continued our artist exchange partnership with Music PEI IPrince Edward Island, Canada). Manchester
based Robbie Cavanagh was selected to work with Lawrence Maxwell as they spent time in Canada writing
and attending Showcase PEI before travelling to Manchester for Manchester Folk Festival. Outcomes from
this partnership lin its second year) include Canadian Festivals and tour, Australian Festival and tour and new
UK based agency and management.
Concert Programme
We independently promoted 12 concerts throughout the year in addition to our festival programme acro55
Greater Manchester. As well 3s presenting live music in a range of central Manchester venues including
Stoller Hall, Halle St Peters, Albert Hall and the Deaf Institute. we also promoted concerts across Greater
Manchester including Rochdale and Sale. We supported Feelgood Festival in Rochdale with curation of a new
free day of folk- Feelgood Folk.
Artist Mentoring Programme
With a change in our funding from PRSF for this work {from one off project to 2 year programme linked).
2024 saw a break in our regular Artlst Mentorin8 Programme which has Tun since 2018. The programme was
missed by artists ready for a step change in their career as the programme is now a well regarded resource
within the industry. We maintained our link5 With Focus Wales and Cambridge Folk Festival by partnering
with GMCA to open opportunities for Greater Manchester artists including artists beyond our usual
supported genre of folk and acoustic. 2024 saw the relaunch of the AMP supported by PRSF and Jerwood
Foundation for a 2 year period.
Official Folk Abums Chart
This continues to thrive and grow with more and more artists Scheduling their releases around thi5 chart and
Using it to promote their new albums. 2024 saw 120 artists entering the charts for the first time with our
partnership wlth Folk on Foot now reaching 8LXXJ online audience each month.
Sound Roots Connect
The project launch was delayed due to technical issues and staff capacity. We developed a sales and content
strategy which we hope will start to build engagement with grassroots industry in 2025.
Regional music development
Strategic work with Greater Manchester Music Commission. Manchester Music City and Rochdale Borough
Culture Network continues with music projects being developed and delivered in partnership from 311 three
bodie5. Sound Roots has worked specifically on the development of a Greater Manchester Music Export
office currently under review.
Page 5

Sound Roots
Trustees Annual Report
Commissions and New Work
In partnership with Rochdale Development Agency we commissioned and o)-produced a new piece of work
based on Rochdale's relationship with Peterloo. As development of our work with Sean Cooney in 2019 on
"Risin8 Up" Peterfs Field was developed from archive access and interviews in Rochdale. The piece
performed at Feelgood Folk Festival, Folk East festival in Suffolk. The Old School Rooms in Middleton with
plans lo showcase at English Folk Expo in 2025.
FINANCIAL REVIEW
Flnancial position
Incorne from our role with WOMEX is significant within this yearfs accounts. The surplus carried from this
year 15 planned to sustain our core artivities while we plan for increased funding to support our expanded
programme from 2028.
ReseThes policy
The unrestricted fund exists to support the charit￿S core operations and day-ttrday artivities. In the event
that a specific projett incur5 a deficit. a transfer from the unrestricted fund will be made to cover the
shortfall, ensuring continuity of Service and financial stability.
The charity is committed to maintaining reserves equivalent to at least three months of core expenditure,
which includes costs associated with staffing and the upkeep of company a￿ets. In alignment with Sound
Roots, financial strategy, the reserves policy aims to hold six months. worth of operating costs to safeguard
against unforeseen financial challenges.
As of the current reporting period, the charitys reserves exceed this target dEJe to a surplus generated from
the Womex project. These additional funds are being retained to offset a projected deficit in the 2027128
financial year. which is anticipated due to extension of current portfolio period at standstill funding levels by
Arts Council England. At year-end. the unrestrirted fund balance stood at £269.731, reflecting a surplus of
£184.613. The restricted fund balance wa5 £23.197.
PLANS FOR FUTURE PERIODS
WOMEX 2024
WOMEX was a great success resutting in significant press and business opportunities for our charity and
Manchester.
Sound Roots Connert
2024 saw the soft launch of Sound Roots Connect allowing us to work through some teething problems while
we developed our business plan and made sure we were ready for a hard launch in 2025.
English Folk Expo
Our annual showcase moves to March 2025 to accommodate WOMEX
Manchester Folk Festival
Our annual festival moves to March 2025 to accommodate WOMEX
Concert Programme
We will continue to promote folk concerts across Greater Manchester.
Page 6

Sound Roots
Trustees Annual Report
Official Folk Albums Chart
This will continue for another year with plans to develop further pr￿rarnMes around supportin8 artists
published music.
Talent Development
Artist Mentoring Pathway. PEI Exchange and Manchester Folk Festival Emerging stage will restart in 2025
with support as a PRSF Talent Development Network and Trust funding.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing dtxument
The charity is controlled by its governing document, a memorandum and articles of association, and
constitutes a lirnited company, limited by guarantee, as defined by the Companies Act 2006. English Folk
Expo registered a5 a charity with the Charity Commission for England and Wales and became a charitable
company on 29 October 2020.
Recruitment and appointment of new t￿rtee$
The charity is governed by a board of not le55 than five Trustees. Trustees may be any person aged 16 years
or older who supports the objerts of the charity. New trustees may apply to the board at any time and can be
appointed by ordinary resolution at a meeting ot the trustees.
All newly appointed dirertor5 are appointed for a fixed term of three years, and may serve up to a maximum
of two consecutive terms. or a maximum of three consecutive tem)s if the third term is approved by special
resolution. We have two Youth TnJstees' who are appointed for one term.
The Trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at
any time the financial position of the charity and to enable them to ensure that the financial statements
comply with the Companies Act 2Crf)6. The Trustees are also responsible for safeguarding the assets of the
charity and hence taking reasonable steps for the prevention and detection of fraud and other irregularities.
The above report ha5 been prepared in accordance with the pr¢)visions applicable to companies subject to
the small companies regime as set out in Part 15 of the Companies Act 2Crf)6 and in accordance with the
Charities SORP IFRS 102).
Slgned on behalf of the board
Kellie While
Trustee
29 October 2025
Page 7

Sound Roots
Independent Examinets Report
Independent Examiner's Report to the trustees of Sound Roots
I report to the charity trustees on my examination of the financial statements of Sound Roots for the year
ended 31 December 2024.
Responsibilities and basi5 of report
As the charity's trustees of the company land also its directors for the purposes of company lawl you are
responsible for the preparation of the financial statements in accordance with the requirements of the
Companies Art 20061.the 21X)6 Act).
Having satisfied myself that the financial ststements of the Charity are not required to be audited under Part
16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of
vour charity's financial statements as carried out under sertion 145 of the Charities Act 20111'the 2011 Act'l.
In carrying out my examination I have followed the Directions gr¥en by the Charity Commission under section
145151 Ibl of the 2011 Art.
As examiner, l am a member of the A5SOCiation of Accounting Technician5 who have adopted the provisions
of the Revised Ethical Standards 2016 issued by the Finantial Reporting Council IFRCI
Independent examinerfs statement
As the charity's gross income exceeded £250,0￿ your examiner must be a member of a body listed in
section 145 of the 2011 Act. I confimi that l am qualified to undertake the examination because l am a
member of The A550ciation of Accounting Technicians. which is one of the listed bodies.
I have completed my examination. I can tonfirm that no material matter5 have come to my attention in
connection with the examination giwng me cause to believe:
accounting records were not kept in actordance with section 386 of the 2006 Act - or
• the financial statements do not accord with those record5: or
the financial statements do not comply wth the accounting requirements under section 396 of the 2006
Act other than any requirement that the financial statements gr¥e a'true and fair. view which is not a
matter considered a5 Part of an independent ex3min3tion,' or
the financial statements have not been prepared in accordance with the methods and principles of the
Statement of Recommended Prartice for accounting and reporting by charities applicable to charities
preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and
Republic of 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 to enable a proper understanding of the financial
statement5 to be reached.
Angelika Gacek MAAT
Pennine Accounting ￿Mited
109A Church Street
Littleborough
Lancashire
OL15 8AA
29 October 2025
Page 8

Sound RIK>ts
Statement of Financial Activities
for the year ended 31 December 2024
Unrestrlcted
fund5
Restrlcted
funds Total fvnds Total funds
2024
2024
2023
2024
Notes
Income and endowments
from:
Charitable actiwties
Other trading activities
535.820
29,553
565,373
371,928
690
Totsl
535,820
29,553
565.373
372,618
Expendlture on:
Charitable activities
Other
231.186
187,665
6,3S7
237,543
187.665
239,775
181,775
Total
418.851
6.357
425,208
421,550
Net gains on investments
Net Incomellexpendlturel
Transfers between funds
116,%8
23,197
140,165
148,9321
67.645
167.6451
Net income/lexpenditurel
before other 8alns/(losses)
184.613
144,4481
140,165
148.9321
Other gains and losses
Net movement In funds
184.613
144.4481
140.165
148,9321
Reconciliation of funds:
Total funds brought forward
85,118
67.645
152.763
201,695
Total funds carrfed forward
269,731
23,197
292,928
152,763
Page 9

Sound Roots
Summary Income and Expenditure Account
for the year ended 31 Decembei 2024
2024
2023
Income
565,373
372,619
Gross income for the year
565.373
372,619
Expenditure
425.208
421.551
Totsl expenditure for the year
Net income/lexpenditurel before tax
for the year
425.208
421,551
140.165
148,9321
Net income Ilexpenditure Ifor the year
140,165
148.9321
Page 10

Sound Roots
Balance Sheet
at 31 December 2024
Company No.
IW29705
Notes
2024
2023
Current assets
Debtors
Cash at bank and in hand
135,783
205.384
341.167
148.2391
10,997
149,337
160.334
17.S711
152,763
152,763
Creditofs: Amount falling due within one year
Net current assets
io
292.928
Total assets less current liabilities
292.928
Net assets excluding pension asset or Ilabillty
292,928
152,763
Total net a55ets
292.928
152,763
The funds of the chartty
Restrirted funds
Restricted income funds
12
23.197
23.197
67.645
67,645
Unrestricted funds
General funds
12
269.731
85,118
269,731
85,118
Reserves
12
Total funds
292.928
152.763
These atcounts have been prepared in accordan￿ with the special provisions of Part 15 of the Companies
Act 2006 relating to small companies.
For the year ended 31 Detember 2024 the company was entitled to exemption under section 477 of the
Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the
Companies Act 2006.
The directors acknowledge their responsibilities for Complying with the requirements of the Companies Act
2006 with respect to accounting records and the preparation of accounts.
Approved by the board on 29 Ortober 2025
And signed on its behalf by:
Kellie While
Trustee
29 October 2025
syi8tR64g12025. 17:48.37 GK
Page 11

Sound Roots
Statement of Cash flows
for the year ended 31 December 2024
2024
2023
Cash flows from operatlng artrvities
Net in¢omel{expenditurel per Statement ol Financial Actl¥ltSes
140.165
148.9321
Adjustments for:
Other gèins/losse5
IlncreasellDecrease in trade and other receivables
Increase/lDecrea5el in trade and other payables
1124,7861
40,668
38,985
124,7081
Net c•sh provided byl{used In) operating activitres
56,047
134,6551
Net cash from investlnz artlvlties
Net cash from financing actfvities
Net increasel{decrease) in cash and cash equivalents
56.047
(34.6551
Cash and cash equlvalents at the beginntng of the year
149.337
183,992
Cash and cash equivalents at the end of the year
205,384
149,337
Components of cash and cash equlvalents
Cash and bank balances
205.384
149,337
205.384
149,337
Page 12

sound Roots
Notes to the Accounts
for the year ended 31 December 2024
l Accounting policies
Basis of preparation
The financial statements have been prepared in accordance wFth Accounting and Reporting by Charities:
Statement of Recommended Prartice applicable to charitie5 preparing their accounts in accordance with
the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 leffective I
January 20151- Icharities SORP IFRS 10211, the Financial Reporting Standard applicable in the UK and
Republic of Ireland IFRS 1021 and the Companies Act 2LI)6.
Change In basss of accounting or to previous accounts
There has been no change to the accounting policies (valuation rules and method of accounting) slnce
last year and no changes have been made to accounts for previous years.
Fund accounting
Unrestricted funds These are available for use at the discretion of the trustees in furtherance of the
general objects of the charity.
These are unrestricted funds earmarked by the trustee5 for particular purposes.
These are unrestricted funds which include a revaluation reserve representing the
restatement of investment assets at their market values.
These are available for use subject to restrictions imposed by the donor or through
terrn5 of an appeal.
Designated funds
Revaluation funds
Restricted funds
Income
Recognition of
income
Income is included in the Statement of Financial Activities ISOFAI when the charity
betomes entitled to. and virtually certain to receive. the income and the amount of
the income can be measured with sufficient reliability.
Intome with related Where income h85 related expenditure the income and ￿lated expenditure 15
expenditure
reported gross in the SOF
Donations and
legacies
Voluntary income received by way of grants. donations and gifts is include(i In the
the SOFA when recetvable and only when the Charity has unconditional
entitlement to the income.
Tax reclaims on
Income from tax reclaims is included in the SOFA at the same tlme 8$ the
donations and gifts giftldonation to which it relates.
Donated services
These are only included in income (with an equivalent amoLTrnt in expenditure)
and facilities
where the benefit to the Charity is reasonably quantifiable, measurable and
material.
Volunteer help
The value of any volunteer help received is not included in the accounts.
Investment income This is included in the accounts when receivable.
Gainslllossesl on
This includes any gain or1055 resulting from ￿¥a1￿1ng investments to market value
revaluation of fixed at the end of the year.
assets
Gainslllossesl on
investment assets
This includes any gain or loss on the sale of investments.
Page 13

Sound Roots
Notes to the Accounts
Expendlture
Recognition of
expenditure
Expenditure is recognised on an accruals basis. Expenditure includes any VAT which
cannot be fully recovered. and is reported as part of the expenditure to which it
relates.
Éxpenditure on
These comprise the costs associated with attracting voluntary income, fundraising
raising funds
trading costs and investment management costs.
Expenditure on
These comprise the costs incurred by the Charity in the delivery of its activitles and
charitable activities Services in the furtherance of its objects, including the making of grants and
governance costs.
All grant expenditure is accounted for on an actual paid basis plus an accrual for
grants that have been approved by the trustees at the end of the year but not yet
paid.
These include those costs associated with meeting the constitutional and st3tutory
requirernents of the Charity, induding any audit/independent examination fees,
costs linked to the strategic management of the Charity, together with a share of
other administration costs.
These are support costs not allocated to a particular activity.
Grants payable
Governance costs
Other expenditure
T?xatlon
The charity is exempt from corporation tax on tts charitable activities.
Freehold investment property
Investment properties are measured initiaify at cost and subsequently at fair value at each balance sheet
date and are not depreciated. All gains or losses are taken to the Ststement of Financial Activities as thev
arise.
Stock5
Stock is included at the lower of cost or net realisable value. Donated items of stock are recognised at fair
value which is the amount the charity would have been willing to pay for the items on the open market.
Trade and other debtOfS
Trade and other debtors are reco8nised at the settlement amount due after any trade discount offered.
Prepayments are valued at the amount prepaid net of any trade discounts due.
Cash and cash equivalents
Cash and cash equivalents tomprise cash at bank and on hand. demand deposits with bank5 and other
short-term highly liquid investments with original maturities of three months or less and bank overdrafts.
In the statement of financial position, bank overdrafts are shown wtthin borrowings or current liabilities.
In the Statement of Cash Flows, cash and cash equivalents are shown net of bank overdrafts that are
repayable on demand and form an integral part of the company's cash management.
Trade and other creditors
Short term creditors are measured at the transaction price. Other creditors and provisions are recogni5ed
where the charity has a present obligation resulting from a past event that will probably result in the
transfer of funds to a third party and the amount due to settle the obligation can be measured or
estimated rèliably. Creditors and provisions are normally recognised at their settlement amount after
allowing for any trade discounts due.
Page 14

Sound Roots
Notes to the Accounts
Researfh and development
Expenditure on research and development is written off in the year in which it is incurred.
Forel8n currencies
Monetary assets and liabilities denominated in currencies other than the functional currency of the
charity are translated at the rates of exchange prwailing 3t the end of the reporting period.
Transactions in currencies other than the functional currency of the charity are recorded at the rate of
exchange on the date that the tran5artion occurred.
All exchange drfferences are are taken into account in arriving at net incomelexpenditure.
Leased assets
Where the charity enters into a lease which entails taking substantially all the risks and rewards of
ownership of an asset, the lease is treated as a finance lease.
Leases which do not transfer substantially all the risks and rewards of ownership to charity are classified
as operating leases.
Assets held under finance leases are initially recognised as assets of the charity at their fair value at the
inception of the lease or. if lower. at the present value of the minimum lease payments. The
corresponding liability to the lessor is included in the balance sheet date as a finance lease obligation.
Lease payments are apportioned between finance expenses and reduction of the lease obligation so as to
achieve a constant rate of interest on the remaining balante of the liability. Finance expenses are
recognised immediately. unless they are direttly attributable to qualifying assets, in which case they are
capitalised in accordance with the chartty's policy on borrowing costs.
Assets held under finance leases are depreciated in the same way as owned assets.
Operating lease payments are recognised as an expense on a straight-line basi5 over the lease term.
In the event that lease incentives are received to enter into operatin8 leases. such incentives are
recognised as a liability. The aggregate benefrt of incentives is recognised as a reduction of rentsl
expense on a straight-line basis.
Penslon costs
The charity operates a defined contribution plan for its employees. A defined Contribution plan is a
pension plan under which the company pays fixed contributions into a separate entity. Once the
contributions have been paid the company has no hjrther payments obligations. The contributions are
recognised as expense5 when they fall due. ArT70unts not paid are shown in accrua15 in the balance sheet.
The assets of the plan are held separately from the company in independently admlni5tered funds.
Receipt of donated 8oods. facllltles and seT¥ices
All donated goods, facilities and services received are recognised within incoming resources and
expenditLEre at an estimate of the value to the chartty.
2 Company status
The company is a private company limited by guarantee and consequently does not have share capital.
Page 15

Sound Roots
Notes to the Accounts
3 Statement of Financial A¢ti¥ities- prlor year
Unrestricted
Restrlcted
funds
funds Totsl funds
2023
2023
2023
Income and endowments from:
Donations and legacies
Charitable activities
Other tradin8 activities
Totsl
127.148
690
244,780
371.928
690
127,839
244.780
372,619
Expendlture on:
Charitable artivities
22,078
181,776
217.697
239,775
181,776
Other
Total
203.854
217.697
421,551
Net in¢ome
176.0151
27,083
148.9321
Net Income before other
gainslllossesl
Other gains and1055es:
Net movement in funds
176.0151
27,083
148,9321
176,0151
27,083
148,9321
Reconciliation of funds:
Total funds brought forward
Total lunds ¢arrled forward
161.133
40,562
201,695
8S.118
67.645
152,763
4 Income from charttable acti¥itses
Unre5trirted
Restricted
Totsl
Total
2024
2023
Projects and Consultancy
Tickets and Commissions
69.187
39,735
1,035
425,863
535.820
5.553
74.740
39,735
1,035
449,863
565.373
50.004
75,534
1,610
Subscriptions
Grants
24,￿)
29.553
244,780
371,928
5 Income from other trading acti¥itie5
Total
Total
2024
2023
690
690
P38e 16

Sound Roots
Notes to the Accounts
6 Expenditure on charitable artivitses
Unrestricted
Restricted
Totsl
Total
2024
2023
Expenditure on choritoble
octivities
Event Costs
204.615
21.388
5,050
1,307
209,665
22,695
205,094
25,951
3,130
Travel/Accommodation Costs
Official Folk Albums Chart
Professional Fees-
Evaluation
5,600
Governtsnce costs
Board Members, travel &
meeting expenses
3,383
3,383
231.186
6,357
237.543
239.775
7 Other expenditure
Unrestricted
Total
Total
2024
2023
Employee costs
General administrative costs
145.699
19,222
22,744
187.665
145,699
19,222
22,744
187.665
131,274
49,351
1,150
181.775
Legal and professional costs
8 Staff costs
2024
2023
122,518
5,633
3,123
131,274
Salaries and wages
Social security costs
Pension costs
129,799
13,561
2,339
145,699
No employee received emoluments in excess of £60.1XKI.
The average monthly number of full time equNalent employees during the year was as follows..
2024
Number
2023
Number
Management
Production and Artistic
9 Debtors
2024
20Z3
Trade debtor5
109,364
26,419
135,783
10,997
Prepayment5 and accrued income
10,997
Page 17

Sound Roots
Notes lo the Accounts
10 Credftors:
amounts falling due within one year
2024
2023
Trade creditors
Other taxes and social security
Other creditors
Accruals
Deferred income
12.490
15.069
353
3,975
2,59S
6.077
14,250
48,239
i.ooi
7,571
11 l)eferred Income
Movement olthe deferred income shown in CreditOJS.' omountsfalling due within one yeor
2024
Z023
Deferred in current year
At 31 December
12 Movement In funds
14.250
14,250
Incomini
resources
At31
Oecember
2024
lin¢luding
At l January
other
2024 gain5llosses)
expended
transfers
Restrfrted funds".
Restrirted income funds:
Arts Council England
Womex
8.062
59,583
18,0621
159.5831
Project Grants
29.553
16,3571
23,197
Totol
67.645
29,553
16,3571
167,6451
23,197
Unrestrfrted funds:
General funds
85.118
535.820
1418,8511
67,645
269,731
Total funds
152.763
565.373
1425,2081
292,928
Purposes and restriction5 in relation to the funds=
Restricted funds:
Arts Council England
Womex
Project Grants
Page 18

sound Roots
Notes to the kcounts
13 Analysls ot net assets between fvnds
Unrestrirted Restrirted
funds
funds
Totsl
Net current assets
106.423
106,423
186.505
186.505
292.928
292,928
14 Reconciliation of net debt
At31
At l January
2024
December
2024
Cash flows
Cash and cash equivalents
149.337
149.337
56.047
56,047
205.384
205.384
Net debt
149.337
56,047
205,384
15 Commltments
Operating lease commitments
Annual commitments urbder non-cancellable operating lease5 are as follows:
2024
2024
2023
Land and
buildings
2023
Land and
buildings
Other
Other
Operating leases Wlth expiry date=
Penslon commitments
2024
2023
The pension cost charge to the company
amounted to:
2,339
3,123
16 Relatèd party distlosurès
Controlling party
The company is limited by guarantee and has no share capital- thu5 no Single party controls the company.
Page 19

Sound Roots
Detsiled Statement of Flnan¢lal Actmtles
for the year ended 31 December 2024
Unre5trlrte
d fvnd5
2024
Restrlcted
funds Totsl funds
2024
2024
Totsl funds
2023
Income and endowments from:
Charitable activities
Projects and Consultancy
Tickets and Commissions
Subscriptions
Grants
69,187
39,735
1,035
425,863
535,820
5,553
74,740
39,735
1,035
449,863
565.373
50,004
75.534
1,610
244.780
371.928
24.(K)O
29,553
Other trading activities
690
690
Total income and endowments
535,820
29,553
565,373
372,618
Expenditure on:
Charitable activities
Event Costs
TravellAccommodation Costs
Official Folk Albums Chart
204,615
21,388
5,050
1,307
209.665
22.695
1.81x1
205,094
25.951
3,130
5,600
239,775
Professional Fees- Evaluation
227.803
6.357
234,160
Governance costs
Board Members. travel & meeting
expenses
3.383
3,383
3,383
3,383
Total of expenditure on Iharitaljle
artlvltles
231.186
6.357
237,543
239,775
Employee eosts
Salarieslwa8es
Employer's NIC
Pension costs
129.799
13.561
2.339
145,699
129,799
13,561
2,339
145,699
122,518
5,633
3,123
131,274
General administrative costs,
including depreciation and
amorti58tion
Bank charges
General insurances
Information and publications
Software, IT support and related
costs
720
720
975
1,736
12,491
1,736
12,491
2,045
28,461
1,750
1.750
17,C#JO
Stationery and printing
Sundry expenses
870
2.525
2.525
Page 20

Sound Roots
Detailed Statement of Financial Activities
19.222
19.222
49,351
Legal and professional costs
Auditllndependent examination
fees
Accountancy and bookkeeping
Consultancy fees
3(XJ
3(KJ
1.227
21.217
22.744
1.227
21,217
22,744
1,150
1,150
Total ol expendlture of other costs
Total expenditure
Net gains on investments
187.665
187.665
181.775
418.851
6,357
425.208
421.550
Net incorne/{expenditure)
Transfers betsveen fund5
116.968
23.197
140,165
148,9321
67.645
167,6451
Net In¢omel{expendlturel before
other 8ains/llosses)
Other Gains
184.613
144,4481
140,165
148,9321
Net movement In lunds
184.613
144.4481
140.165
148,9321
Reconciliation of funds:
Total fund5 brought forward
8S,118
67.645
152.763
201.695
Total funds carried forward
269,731
23,197
292,928
152,763
Page 21

Signatures ' technical details
Signatures
ke1lieepom￿￿aall￿o. co.uk
28/1012025. 17=48-. 37 GMT
Fingerprint
34 6a5619e2bb8cac501be83c6c68ade99e3bd29d
Event log
10.50.10.104
28110/2025. 16:28:52 GD
Signing request created.
28/1012025, 16=28=57 GMT
Notif ication sent to kellie@porAonaavdio. co. uk.
2811012025. 17.47=11 (WT
Signing page opened by signee kellieepomonaaudio. co. uk.
2811012025, 17:48:37 (OIT
Signee kellieQpomonaaudio. co. uk signed document.
2811012025. 17:48:37
Signing process completed.
System
System
System
System
SurrrtThary
Envolope, s ID:
Document. s ha•h:
ajf89h6h
a6baf 81dee094e8ddd34 6744b094788 961b6978c55blef 75a4e84ed4 996d9c14
Final stamp:
28/1012025. 17:48:38 Gwr
Verif ication QR Code
?) MyDocSafe