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2022-03-31-accounts

Playful People Making Change

Trustees' Annual Report and Financial Statements for the year ended 31[st] March 2022

Soundcastle Ltd

Charity Registration Number: 1194955 Company Registration Number: 08210076

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Trustees’ Annual Report

Playful People Making Change

Contents

Administrative Information 3
Trustees’ Annual Report 4
Trustees’ Responsibilities in Relation to the Financial Statements 15
Independent Examiner’s Report to the Trustees of Soundcastle 17
Statement of Financial Activities for the Financial Year Ended 31stMarch 2022 19
Balance Sheet as of 31stMarch 2022 20
Notes to the accounts 22

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Administrative Information

Trustees: S Drake-Pullin (Co-Chair), appointed 2[nd] December 2020 L Becko-Vasiliadis (Co-Chair & Treasurer), appointed 2[nd ] December 2020 A Krishnan, appointed 2[nd] December 2020 C Rubin, appointed 2[nd] December 2020 R Jarratt, appointed 1[st] May 2021 H Collisson, appointed 29[th] March 2022 Charity Address: Unit 1, 2nd Floor, Rock House 49 - 51 Cambridge Road Hastings East Sussex TN34 1DT Bankers: The Co-operative Bank p.l.c. P.O Box 101 1 Balloon Street Manchester M60 4EP Accountant and Beyond Profit Ltd Independent G104 Bolton Arena Examiner: Arena Approach Horwich Bolton BL6 6LB

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Trustees’ Annual Report

The trustees present their report and the unaudited financial statements for the year ended 31 March 2022. Included within the trustees’ report is the directors report as required by company law.

The reference and administrative information set out on page 1 forms part of this report. The financial statements comply with current statutory requirements, the memorandum and articles of association and the Statement of Recommended Practice -Accounting and Reporting by Charities (SORP) applicable to charities preparing their accounts in accordance with FRS 102.

Structure, Governance and Management

Soundcastle Ltd is a registered charity and a Company Limited by Guarantee with the Charity Registration Number 1194955. The governing document of Soundcastle Ltd is a memorandum and articles of association dated 16th March 2021.

The Trustees, who are also directors under company law, are appointed by ordinary resolution passed at a general meeting. One third of the members of the Trustees must retire by rotation but may stand for re-election. Trustees met every three months during the financial year in question.

Members of the charity guarantee to contribute an amount not exceeding £10 to the assets of the charity in the event of winding up. The total number of such guarantees at 31[st] March 2022 was 6.

Objectives and Activities for the Public Benefit

The objects of the charity are specifically restricted to the following:

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For the purpose of this clause ‘socially excluded’ means being excluded from society, or part of society, as a result of being a member of a socially and economically deprived community.

The Trustees confirm that they have referred to the guidance contained in the Charity Commission’s general guidance on public benefit when reviewing the charity’s aims and objectives and in planning future activities and setting the grant making policy for the period.

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2021-22

Review of Activities and Achievements

Soundcastle Overview

This has been a transformational year for Soundcastle! In our 10th year, we registered as a charity, opening up new opportunities and renewing our ambition to break down barriers to music making. We have appointed a diverse, talented and committed Board of Trustees who have offered new perspectives, useful challenges and complementary skills to the Leadership Team. We have also set up our first Advisory Panel, made up of community members, partners and creative practitioners, to increase representation and ensure that community voice remains at the heart of Soundcastle’s vision.

We continue to be advised and guided by the communities we partner with across our three regions of Bristol, Sussex and East London. Our specialism remains in family and mental health contexts, embedding inspirational music programmes that respond to local needs. Soundcastle creative music programmes work towards our social aims of increased confidence, reduced social isolation and enhanced wellbeing. In addition to this, our training and consultancy offer is rapidly expanding, enabling us to share practice, support early career practitioners and play our part in the development of a connected and thriving community arts sector.

We have a diverse and growing team of music practitioners, producers and administrative staff who have been exceptionally dedicated to the delivery of high quality, inspiring work. We are committed to their wellbeing and were shortlisted for the Culture Health and Wellbeing Alliance ‘Artists Practising Well’ award. This award focuses on practice that is leading the way in championing, delivering and embedding practitioner care into project design, commissioning and management. We are proud of our team and everything we have achieved together this year, and we look forward to turning future plans into reality!

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In the year 2021-2022:

Soundcastle delivered 168 creative music making sessions in community settings. We made creative music making accessible to 408 community members. This includes, 218 children and young people and 190 adults facing challenging circumstances and socio-economic barriers to music making.

Soundcastle delivered 24 Training and Consultancy sessions and connected 320 community music sector professionals via the Soundcastle Community.

Our training programmes supported 171 creative professionals, including 96 young people aged 18-25 at the start of their careers.

Our consultancy supported 30 sector professionals and included the voices of 425 children and young people.

Musical Beacons

Our Musical Beacons programme has expanded rapidly across all three regions, providing high quality music making to families from a wide range of backgrounds. For many people, it has been their first opportunity to step out of Covid isolation and back into their community. We have been working closely with families facing challenging life circumstances, including:

For many, it is their only access to free and inclusive creative activity. Our sensitive music facilitators support people to strengthen family bonds, form community friendships and explore self-expression through a range of creative music activity.

Over the past year we have developed a diverse range of strategic partnerships which provide essential entry points and referral routes, widening access to the programmes for the most vulnerable members of our communities. These include:

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In the year 2021-2022:

Musical Beacons Bristol has:

Musical Beacons Sussex has:

Musical Beacons London has:

Our evaluation shows that we are regularly meeting all of our social aims for families who regularly attend Musical Beacons sessions.

Increased Confidence

100% of community members who completed our feedback survey reported feeling an increase in confidence.

“I feel like I can play instruments with my daughter now, and we can have fun together” Young Parent, Musical Beacons Sussex (Hastings).

“Being around many people from different backgrounds challenged me to be more outgoing” Parent, Musical Beacons London.

Reduced Social Isolation

100% of community members who completed our feedback survey reported feeling an increase in connectedness to their community.

“It brought us all closer together. It is something we all connected on and enjoyed.” Young Parent, Musical Beacons Sussex.

“Learning how to communicate with other parents” Parent, Musical Beacons London.

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Enhanced Wellbeing

70% of community members who completed our feedback survey reported feeling enhanced wellbeing.

“It was the first time I have ever seen my child relax, it was priceless” Parent, Musical Beacons Bristol.

“Residents who were receiving support from Children Services developed their parenting skills and learnt to play and engage with their children through the support of Musical Beacons. They are flourishing now. These sessions are so valuable to parents who have experienced trauma in their own childhood.” Jocelyn, Deputy Manager, East Sussex Young Parents Service, Musical Beacons Sussex.

“The singing and the children make me feel a lot happy instantly.” Parent, Musical Beacons, London.

People’s Music

Our People’s Music programme has expanded in Sussex to offer safe and inclusive creative music sessions to adults with a mental health diagnosis. Alongside continued delivery of People’s Music Collective, we launched our first New Rhythms programme for adults in the early stages of mental health recovery. For many people, it has been their first opportunity to step out of Covid isolation and back into their community.

Many of our community members face socio-economic barriers to attending creative activity, and People’s Music is their only access to inclusive music making. Our music facilitators continue to support people to step out of their comfort zones, form community friendships and remove stigma around mental health.

Over the past year we have strengthened local partnerships with mental health services which provide essential entry points and referral routes, widening access to the programme for the most vulnerable members of our communities. These include:

During the Covid lockdowns, the People’s Music Collective, our band for adults on a journey of mental health recovery, worked together to compose, record and launch their first EP ‘UnLocked’ entirely online. This was launched as part of the digital Brighton Fringe and has since gained 520 online views.

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In the year 2021-2022 People’s Music has:

Our evaluation shows that we are regularly meeting all of our social aims for community members who attend a People’s Music programme.

Increased Confidence

100% of community members who completed our feedback survey reported feeling an increase in confidence.

“I can speak up more now and tell people how I feel and how I am processing things. I don't think I was doing that before and I only realised that in this music group.” New Rhythms member.

“Being in the group has encouraged me to step out of my comfort zone, quite a long way out on some occasions. Making my voice heard, literally, and being in a room of people who are actually aware that I am there, has made me realise that I am able to speak out, and express ideas, without being considered unimportant, or simply ignored. This has then impacted my life, outside of the group. When situations arise, whereby I have a choice whether to speak up, or not, I feel more able to let my voice be heard.” People’s Music Collective member.

Reduced Social Isolation

100% of community members who completed our feedback survey reported feeling an increase in connectedness to their community.

“Through the music, you can realise what it feels like to be part of a group. You don't have to do everything all by yourself. You can all carry the weight together.” New Rhythms member.

“I have felt quite isolated, especially over the past couple of years. (I'm aware that I'm not the only one, for sure). I didn't have a huge amount of friends to start with, but I have lost touch with some of them. Attending the PMC, whether it was virtually, on Zoom, or in person, has given me an extremely valuable, and very much needed, opportunity to connect with people. The fact that the people in question are warm and supportive, makes that all the more important.” People’s Music Collective member.

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Enhanced Wellbeing

92% of community members who completed our feedback survey reported feeling enhanced wellbeing.

“I left each session feeling more positive for the day.” New Rhythms member.

“If I'm feeling somewhat low, then attending the PMC sessions gives my mood a boost. Also, during the week, in between sessions, and even in the longer spaces between terms, I find myself giving thought to what we're currently working on, and that also gives me a lift. That boost, has on a number of occasions, prompted me to do something else creative at home, whether it be musical, or art & craft based. The group gives me motivation and enthusiasm.” PMC member.

The Soundcastle Community, Training and Consultancy

Soundcastle’s training and consultancy offer has grown consistently throughout 2021-22. We have continued to offer professional development training via the Soundcastle Community. This includes the monthly series of well-attended ‘Refresh Your Practice’ sessions, as well as the successful pilot of our Sparking Change programme for early career 18-25 year olds. The Soundcastle Community allows us to reach practitioners across the UK, enabling us to generate a positive impact on the community music sector at a national level. Delivering consultancy continues to expand an understanding of high-quality co-production in community practice. In particular, our work with music hubs has opened space for youth voices to be heard.

In the year 2021-2022 Soundcastle has:

Increased Confidence

“It has helped to give me more confidence in my ideas. This forced me to take some risks, which was both a little scary and welcome at the same time!” Soundcastle Community Member.

“I have a lot of self limiting beliefs about music and my abilities with teaching / facilitation, and over the years they have prevented me from pushing myself in these areas, even though I am so

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passionate. I have had a business idea that I plan to pursue to do with music facilitation. I really think Soundcastle had a lot to do with that!” Soundcastle Community Member.

“I will always assume someone else knows better than me and have spent years and lots of money searching for a qualification that will convince me of my own competence. The brilliant thing about this was that you didn’t try to indoctrinate us into delivering carbon copies of a set working model. Instead, it was about empowering us to trust our own instincts and be brave about trying new things, whilst being prepared to make mistakes. This was exactly what I needed!” Soundcastle Community Member.

Reduced Social Isolation

“It was so lovely to meet people who are not judgemental, lovely and acceptable. My first language isn’t English and I face so many barriers in everyday life, but none of that ever happened in Soundcastle. I felt free to express myself.” Soundcastle Community Member.

“I don’t feel lonely anymore” Soundcastle Community Member .

“Truly a safe space ... that connection with other musicians up and down the country is quite vital and makes me feel like I’m not alone.” Soundcastle Community Member.

Enhanced Wellbeing

“I have learned different things in terms of wellbeing and creativity. As a practitioner, I have to take care of myself by stretching and by reflecting with a healthy body and mind, and plan my course in a safe place, bringing a positive energy to participants.” Soundcastle Community Member.

“‘It can be really easy to get sucked into the 'goal' and forget to enjoy playing / experimenting with yourself and others. That's been an incredibly positive realisation and has helped my wellbeing a lot.” Soundcastle Community Member.

“It feels like something the industry has been crying out for, and I really appreciate that wellbeing is held at the heart of it all.” Soundcastle Community Member.

Digital Reach (2021 - 2022)

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Future Plans (2022-23)

We are looking ahead to the coming year with renewed energy and ambition! We plan to sustain and expand our work, embedding long term Musical Beacons and People’s Music programmes which continue to respond to local need. The Soundcastle Community will continue to host our training and consultancy programmes, supporting the sector to engage with high quality working practice in community settings and striving for positive social impact.

Internally, we will build upon our existing skills, offering Mental Health First Aid and Disability Awareness training throughout Soundcastle. Further, we plan to focus on our staff’s wellbeing at work, carrying out a consultation followed by a formalisation of our current focus on mental wellbeing within the Soundcastle family.

We will further diversify the Board of Trustees and Advisory Panel to ensure that a wide range of voices and lived experiences are fully represented. We will continue developing and delivering our comprehensive fundraising strategy with a view to securing long term core costs and providing stability for our community partners and wider staff team.

2021-22 has been a year of rapid expansion, rewarding programme delivery and tangible positive change. We are proud of all that we have achieved and look forward to the year to come!

Financial Review

The financial statements attached detail the financial position of the charity for the year ended 31st March 2022.

Incoming resources for the year totalled £272,084 of which £217,643 were for restricted purposes. Outgoing resources for the year were £224,781 of which £180,410 were attributable to restricted funds. Restricted funds carried forward at the year end totalled £109,362 and unrestricted funds totalled £31,224.

Our 2021-22 income and expenditure demonstrate the rapid growth of the charity in comparison to our previous financial accounts (during which periods we were operating as a not-for-profit social enterprise (Company ltd by guarantee) prior to charity registration.

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Our earned income also increased significantly in comparison to previous financial years, to £44,333, now representing 16% of our total income through sales, commissions, coaching and consultancy work.

In the year ended 31st March 2022, our largest funders have been the National Foundation for Youth Music and Arts Council England, together funding approximately 63% of our expenditure on charitable activities.

Alongside this, we are grateful for the ongoing support we have received from a wide variety of charitable funders including The National Lottery Community Foundation, the London Community Foundation, City Bridge Trust, Sussex Community Foundation, Arts Award Access Fund, the Trusthouse Community Foundation, the Rayne Foundation, Postcode Society Trust, the Social Investment Business Foundation, Jessie’s Fund, the Co-operative Bank, the London Borough of Waltham Forest, the Baring Foundation, the Nisbet Trust and the Chalk Cliff Trust.

We would like to extend our thanks to all our funders for their generous support of the charity’s work in the 2021-22 financial year.

Reserves Policy

The trustees have considered Soundcastle’s need for reserves with reference to the level of risk it faces. They have concluded that it is important for the charity to always hold in financial reserves, as a minimum, the funds that would be required to ensure an ordered and proper closure of Soundcastle Ltd.

This level of reserves will fund:

This initial reserves position assumes that no immediate withdrawal of funding will occur. To mitigate the risks arising in the event of an immediate loss of funds, the trustees have established a policy whereby the charity’s intention is to increase unrestricted reserves to a level equivalent to three months’ core running costs, by 31[st] March 2023. The trustees consider that, once achieved, the target level of reserves should be maintained on an ongoing basis in order to ensure the future financial resilience of the charity.

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As per the enclosed accounts, expenditure on core running costs in 2021/22 was £163,641 and therefore the target reserves are £40,910 in general funds. On 31st March 2022 the charity’s unrestricted reserves totalled £31,224.

In light of the rapid growth in income and expenditure the charity has experienced in 2021-22, the trustees intend to review the reserves policy during the 2022-23 financial year to revise the target reserves figure to ensure it remains sufficient to cover 3 months’ core running costs.

Trustees’ Responsibilities in Relation to the Financial Statements

The trustees (who are also directors of Soundcastle Ltd for the purposes of company law) are responsible for preparing the trustees annual report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing these financial statements, the trustees are required to:

The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

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This report has been prepared in accordance with the provisions applicable to companies subject to the small companies’ regime of the Companies Act 2006.

Approved by the trustees on 29[th] April 2022 and signed on their behalf by:

Sarah Drake-Pullin

CHAIR of the BOARD of TRUSTEES

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Independent examiner’s report to the trustees of Soundcastle Ltd for the year ended 31 March 2022

I report to the charity trustees on my examination of the accounts of the company for the year ended 31 March 2022 which are set out on pages 23 to 40.

Responsibilities and basis of report

As the charity trustees of the company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 (the 2006 Act).

Having satisfied myself that the accounts of the company 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 your company’s accounts as carried out under section 145 of the Charities Act 2011 (‘the 2011 Act’). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.

Independent examiner’s statement

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

  1. accounting records were not kept in respect of the company as required by section 386 of the 2006 Act: or

  2. the accounts do not accord with those records; or

  3. the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a ‘true and fair view’ which is not a matter considered as part of an independent examination: or

  4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice 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 (FRS 102).

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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 accounts to be reached.

Emma Willder, FCMA, CGMA, CG (Affiliated) Date: ���������� Fellow of the Chartered Institute of Management Accountants.

Beyond Profit Ltd G104 Bolton Arena Arena Approach, Horwich Bolton, BL6 6LB

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Statement of Financial Activities for the Financial Year Ended 31[st] March 2022

March 2022
Unrestricted Restricted Total funds 31
funds funds March 2022
Notes
£ £ £
Income and endowments from:
Donations and legacies 2 1,962 - 1,962
Charitable activities 2 52,479 217,643 270,122
Total 54,441 217,643 272,084
Expenditure on:
Raising funds 51 - 51
Charitable activities 3 44,320 180,410 224,730
Total 44,371 180,410 224,781
Net income/(expenditure) before transfers 10,070 37,233 47,303
Net movement in funds 10,070 37,233 47,303
Reconciliation of funds:
Total funds brought forward 21,154 72,129 93,283
Total funds carried forward 31,224 109,362 140,586

The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.

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Balance Sheet as of 31[st] March 2022

Sheet as of 31st March 2022
Notes 31 March 2022
£
Fixed assets
Tangible assets 10
 685
Total fixed assets 685
Current assets
Debtors 7
 2,546
Cash at bank and in hand 9
 146,132
Total current assets 148,678
Creditors: amounts falling due within one year 8
 8,777
Net current assets/(liabilities) 139,901
Total assets less current liabilities 140,586
Total net assets / (liabilities) 140,586
Funds of the Charity
Restricted funds 11
 109,362
Unrestricted funds 11
 31,224
Total funds 140,586

For the year in question, the company was entitled to exemption from an audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

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These accounts are prepared in accordance with the special provisions of part 15 of the Companies

Act 2006 relating to small companies and constitute the annual accounts required by the Companies Act 2006 and are for circulation to the members of the company.

The notes on pages 22 to 37 form an integral part of the financial statements.

Approved by the trustees on 29[th] April 2022 and signed on their behalf by:

Sarah Drake-Pullin

CHAIR of the BOARD of TRUSTEES

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Notes to the accounts

Note 1: Accounting Policies

The principal accounting policies adopted, judgements and key sources of estimation uncertainty in the preparation of the financial statements are as follows:

a) Basis of preparation

The financial statements have been prepared in accordance with the Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities in preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102), second edition - October 2019 (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2016.

The charity has applied the exemption available to small charities in the Charities SORP (FRS 102) and does not include a Statement of Cash Flows in these Financial Statements.

Soundcastle Ltd meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting notes.

As this is the first year of charity registration, prior year comparatives are not provided. The accounts for years prior to 31 March 2022 can be found on Companies House.

b) Preparation of the accounts on a going concern basis

The trustees consider that there are no material uncertainties about the charitable company's ability to continue as a going concern.

The trustees do not consider that there are any sources of estimation uncertainty at the reporting date that have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities within the next reporting period.

c) Income

Income is recognised when the charity has entitlement to the funds, any performance conditions attached to the item(s) of income have been met, it is probable that the income will be received and the amount can be reliably measured.

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Income for government and other grants, whether 'capital' grants or 'revenue' grants, is recognised when the charity has entitlement to the funds, any performance conditions have been met, it is probable that the income will be received the account can be measured reliably and is not deferred.

Donations are recognised when the charity receives the funds.

Legacies are recognised on receipted or otherwise if the charity has been notified of an impending distribution, the amount is known and the receipt is expected. If the amount is not known the legacy is treated as a contingent asset.

d) Fund accounting

Unrestricted funds are available to spend on activities that further any of the purposes of the charity.

Designated funds are unrestricted funds of the charity which the trustees have decided at their discretion to set aside to use for a specific purpose.

Restricted funds are funds which the donor has specified are solely to be used for particular activities.

e) Interest receivable

Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the Bank.

f) Expenditure

Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required and the amount of the obligation can be recognised reliability.

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.

All expenditure is shown inclusive of VAT.

g) Allocation of support costs

Support costs are those functions that assist the work of the charity but do not directly undertake charitable activities. Support costs include back office costs, finance, personnel, payroll and governance costs. Support costs have been allocated between governance costs and other support. Governance costs comprise all costs involving public

accountability of the charity and its compliance with regulation and good practice.

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h) Tangible Fixed Assets

Individual assets costing £550 or more are capitalised at cost and are depreciated evenly over their estimated useful economic lives, as follows:

Plant and machinery 15% reducing balance Computer equipment 25% reducing balance

Tangible fixed assets are initially measured at cost and subsequently measure at cost or valuation, net of depreciation and any impairment losses.

The gain or less arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the assets, and is recognised in net income/(expenditure) for the year.

i) Impairment of fixed assets

At each reporting end date, the charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an

impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss(if any).

j) Debtors

Debtors (including trade debtors and loans receivable) are measured on initial recognition at settlement amount after any trade discounts or amount advanced by the charity. Subsequently, they are measured at the cash or other consideration expected to be received.

k) Creditors and provisions

Creditors and provisions are recognised 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 reliably.

Creditors and provision re normally recognised at their settle met amount after allowing for any trade discounts due.

l) Corporation Tax

The charity is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or section 252 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects.

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m) Key estimates and accounting judgements

In applying the charity’s accounting policies, the Trustees are required to make judgements, estimates and assumptions in determining the carrying amounts of assets and liabilities. The Trustees’ judgements, estimates and assumptions are based on the best and most reliable evidence available at the time when the decisions are made, and are based on historical experience and other factors that are considered to be applicable. Due to the inherent subjectivity involved in making such judgements, estimates ad assumptions, the actual results and outcomes may differ.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to the accounting estimates are recognised in the period in which the estimate is revised, if the revision affects only that period, or in the period of revision and future periods, if the revision affects both current and future periods.

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Note 2: Analysis of income

Donations and legacies:
Donations and gifts
Total
Charitable activities:
Grants
Earned Income
Total
Total income		 Unrestricted
funds
Restricted
funds
Total funds
£
£
£
1,962
- 1,962
2022
1,962
- 1,962
8,146 217,643 225,789
44,333
- 44,333
52,479 217,643 270,122
54,441 217,643 272,084

During the period Soundcastle received the following amounts from Government grants:

Arts Coucil
National Lottery Awards
Arts Council Cultural Recovery Fund
Kickstart Scheme
Council		 £
9,960
10,000
32,040
6,646
58,646

During the period Soundcastle received the following amounts as donations:

London Borough of Waltham Forest £
1,500
1,500

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Note 3: Analysis of expenditure

Direct project costs
Depreciation
Salaries and wages
Travel
Staff training
Rent
Other expenses
Share of support costs (see note 4)
Share of governance costs (see note 5)
Analysis by fund
Unrestrcited funds
Restricted funds
Unrestricted funds		 2022
£
61,088
204
156,562
41
263
2,856
600
221,614
1,113
2,003
224,730
44,320
180,410
224,730

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Note 4: Governance and Other Support Costs

The total support costs and overheads attributable to charitable activity is apportioned as shown below:

Website
Subscriptions
Postage and stationery		 Support Costs
Total
£
£
69
69
1,039
1,039
5
5
1,113
1,113
Governance Costs 31 March 2021
£
Independent Examination 1,194
Accountancy Fees 272
Payroll Fees 537
2,003

Trustee Indemnity insurance was purchase on 28 March 2022. The apportioned cost of this is not material and is therefore not shown in the accounts.

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Note 5: Details of certain items of expenditure

Independent examiner’s fees
Other accountancy fees
Total		 2022
£
1,194
809
2,003

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Note 6: Employees

2022
£
Salaries and wages 139,900
Social security costs 6,790
Pension costs (defined contribution scheme) 5,409
Other 4,462
Total staff costs 156,561

No employees received employee benefits (excluding employer pension costs) for the reporting period of more than £60,000

8.2 Average head count in the year

2022
11
Total 11

8.3 Key Management Personnel

The remuneration of the key management personnel is:

2022
£
Salaries and wages 116,538
Social security costs 10,016
Pension costs (defined contribution scheme) 4,662
Total staff costs 131,216

No employee received remuneration over £60,000.

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Note 7: Debtors

Amounts falling due within one year

Amounts falling due within one year
Accrued income
Total		 31 March 2022
£
2,546
2,546

Note 8: Creditors & Accruals

Analysis of creditors: falling due within one year

Accruals and deferred income
Other creditors
Total		 31 March 2022
£
7,772
1,005
8,777

Deferred income comprises of income received by the charity in 2021 for activities Deferred income comprises of income received by the Trust in 2021 for activites

Balance at 31 March 2021
Amounts released to income earned from charitable activities
Amount deferred in period
Balance at 31 March 2022		 £
80,838
(80,838)
1,800
1,800

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Note 9: Cash at bank and in hand

Current Account
PayPal
Total		 31 March 2022
£
144,026
2,106
146,132

Note 10: Tangible Fixed Assets

Cost
At 1 April 2021
Additions
At 31 March 2022
Depreciation
At 1 April 2021
Charge for the year
At 31 March 2022
Net book value at 1 April 2021
Net book value at 31 March 2022		 Plant and
machinery
Computer
Equipment
Total
£
£
£
868
3,922
4,790
-
-
-
868
3,922
4,790
685
3,217
3,902
27
176
203
712
3,393
4,105
183
705
888
156
529
685

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Note 11: Charity funds

Restricted Funds
National Foundation for Youth Music
Arts Council England
The National Lottery Community Fund
London Community Foundation
City Bridge Trust
Sussex Community Foundation
Arts Award Access Fund
Trusthouse Community Foundation
Arts Council England: Cultural Recovery Fund
The Rayne Foundation
Postcode Society Trust
Jessie's Fund
The Nisbet Trust
Government KickStarter training element
Unrestricted Funds
Co-op Bank
The Baring Foundation
The Chalk Cliff Trust
Peabody Community Foundation
Social Investment Business Foundation
London Borough of Waltham Forest
General Funds
Total Funds		 Balance at
1 April 2021
Income
Expenditure
Transfer
between
funds
Balance at 31
March 2022
£
£
£
£
1,410 92,890
(60,515) - 33,785
42,629 9,960
(52,589) - -
1,029 10,000
(4,860) - 6,169
9,756 9,756
(7,883) - 11,629
10,976 -
(10,976) - -
5,000 10,000
(10,000) - 5,000
1,329 -
(1,261) - 68
- 9,500 - - 9,500
- 32,040
(23,559) - 8,481
- 12,000
(8,351) - 3,649
- 20,997 - - 20,997
- 2,500
(416) - 2,084
- 5,000 - - 5,000
- 3,000 - - 3,000
72,129 217,643
(180,410) - 109,362
1,000 -
(1,000) - -
6,503 -
(6,503) - -
- 3,000 - - 3,000
767 - -
(767) -
439 - -
(439) -
- 1,500 - - 1,500
12,445 49,941
(36,868) 1,206 26,724
21,154 54,441
(44,371) - 31,224
93,283 272,084
(224,781) - 140,586

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Restricted Funds:

Funder

National Foundation for Youth Music Arts Council England The National Lottery Community Fund London Community Foundation City Bridge Trust

Sussex Community Foundation

Arts Award Access Fund

Description of Fund

Grant funding received in 2020/21 financial year in support of the cross-regional Musical Beacons programme and the Soundcastle Training Circle.

Final payments of grants for People's Music and Musical Beacons South East programme received in 2021/22 financial year.

Grant funding received in 2021/22 financial year for People's Music programme delivery.

Final payment of multi year grant received in 2021/22 financial year for Musical Beacons London programme delivery.

Remainder of grant funding received in 2020/21 supporting continuation and adaptation of Musical Beacons London in response to the impact of the pandemic.

Grant funding received in 2021/22 for the People's Music programme, and the continuation of South East services during the pandemic.

Grant funding received in 2021/22 financial year for delivery of Arts Award qualifications through Musical Beacons South East.

Trusthouse Community Foundation Grant Funding received in 2021/22 financial year for delivery of Musical Beacons Hastings sessions.

Grant funding received in 2021/22 to support Soundcastle's post pandemic recovery and core development.

Arts Council England: Cultural Recovery Fund

First payment of multi year grant supporting the People's Music programme, received in 2021/22.

The Rayne Foundation First payment of multi year grant supporting the People's Music programme, received in 2021/22. Postcode Society Trust Grant funding received in 2021/22 financial year for People's Music programme delivery. Jessie's Fund

Grant funding received in 2021/22 financial year for Musical Beacons Bristol programme delivery.

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The Nisbet Trust

Grant funding received in 2021/22 financial year for Musical Beacons Bristol programme delivery.

Unrestricted Funds:

Description of Fund

Funder

Donation received in 2020/21 financial year for Musical Beacons equipment and resources. Grant funding received in the 2020/21 financial year towards the development and continuation of Soundcastle's mental health focussed work.

Co-op Bank

The Baring Foundation

Donation received in 2021/22 financial year in support of the Musical Beacons South East programme. Remainder of a grant received in the 2019/20 financial year in support of Musical Beacons London.

The Chalk Cliff Trust Donation received in 2021/22 financial year in support of the Musical Beacons South East programme. Peabody Community Foundation Remainder of a grant received in the 2019/20 financial year in support of Musical Beacons London. Social Investment Business Foundation Remainder of a grant received in the 2019/20 financial year in support of People's Music. London Borough of Waltham Forest Donation received in 2021/22 financial year in support of the Musical Beacons London programme.

Note 12: Analysis of net assets between funds

Fund balances at 31 March 2022 represented by:
Tangible assets
Current assets/(liabilities)		 Unrestricted
funds
Restricted
funds
Total
685 - 685
30,539 109,362 139,901
31,224 109,362 140,586

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Note 13: Trustees remuneration and expenses

The trustees, nor any persons connected with them received no remuneration or benefits for the performance of their duties.

Hannah Collisson was appointed as a Trustee on 29 March 2022. Prior to her appointment as a Trustee she provided Marketing and PR support on a freelance basis. Since being appointed as a Trustee she no longer works in this capacity.

Akhila Krishnan paid Soundcastle a monthly fee of £75 for a desk space at the Soundcastle offices for the period May 2021 to February 2022.

Trustee Indemnity insurance was purchase on 28 March 2022. The apportioned cost of this is not material and is therefore not shown in the accounts.

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Note 14: Related party transactions

During the period in question there were the following related party

transactions:

Jennifer Parkinson, Co-founder and Bristol Lead

Joao Ricardo Aguair was paid £968 for graphic design and video editing Aguiar work. He is Jennifer Parkinson's partner.

Rachael Perrin, Co-Founder and Strategic Development Lead

Gareth Wildig was paid £3,666 for website design, build and accessibility workplan photography and film work. Gareth also paid Soundcastle a monthly fee of £75 for a desk space in the Soundcastle office for the period May 2021 to February 2022. He is married to Rachael Perrin.

All these services were reviewed and approved by the Board in advance of the work taking place.

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