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2023-03-31-accounts

Trustees' Annual Report and Financial Statements for the year ended 31[st] March 2023

Soundcastle Ltd

Charity Registration Number: 1194955 Company Registration Number: 08210076

Contents

Administrative Information 1
Trustees’ Annual Report 2
Trustees’ Responsibilities in Relation to the Financial Statements 17
Independent Examiner’s Report to the Trustees of Soundcastle 19
Statement of Financial Activities for the Financial Year Ended 31 March 2023 20
Balance Sheet as at 31 March 2023 21
Notes to the accounts 23

Administrative Information

Trustees: S Drake-Pullin (Co-Chair) L Becko-Vasiliadis (Co-Chair & Treasurer) (resigned 27/04/2023) A Krishnan C Rubin R Jarratt H Collisson A Bhonagiri (appointed 07/07/2023) 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 Manningtons Independent Examiner: 39 High Street, Battle, East Sussex TN33 0EE

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Trustees’ Annual Report

The trustees present their report and the unaudited financial statements for the year ended 31 March 2023. 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 2023 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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2022-23

Review of Activities and Achievements

Soundcastle Overview

This has been a demanding and ultimately successful year for Soundcastle. In our 11th year, and the second as a registered charity, we have been navigating our way through the cost of living crisis and a challenging fundraising climate, working hard to ensure that our transformational music programmes continue to support those most in need.

Our Advisory Panel, made up of community members, partners and creative practitioners, have supported us to stay true to our vision that community voice remains at the heart of Soundcastle. We have a talented and diverse Board of Trustees and are feeling positive about moving forward under their guidance.

Our core Soundcastle team has shifted as we have said goodbye to two key members. Jenni Parkinson, one of the four founding directors of Soundcastle, has decided after 11 years of service that it is time to explore a new career path - we are thankful for the insight, vision and passion that she brought to Soundcastle over the years and wish her all the best for her future adventures. We have also bid farewell to Laurence Becko, one of our very first Trustees who offered a wealth of support and vital guidance as we made the transition to a charity.

We have made the decision to close the Bristol branch of Soundcastle (of which Jenni Parkinson was the regional lead) and focus on working in communities in which our director team is truly embedded. This means that we are now a South East based charity in terms of our community programmes, although our training and consultancy remains national. We continue to be advised and guided by the communities we partner with across Sussex and East London. Our specialisms remain in family and mental health contexts, embedding inspirational music programmes that respond to local needs. Soundcastle creative music

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programmes work towards our social aims of increased confidence, reduced social isolation and enhanced wellbeing. In addition to this, our training offer in Mental Health First Aid is expanding and providing a vital new revenue stream to support our community practice.

We have welcomed two new music facilitators and two new trainee facilitators to our diverse staff team who have been exceptionally dedicated to the delivery of high quality, inspiring work. We have invested in training and now all staff are qualified in Mental Health First Aid. We have also engaged in Disability Equality training and continue to hold inclusive working at the centre of our practice. We are committed to our team’s wellbeing and came Highly Commended in the Culture Health and Wellbeing Alliance ‘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 everything we have achieved together this year and have renewed faith in our resilience as a charity during a challenging social climate. We are optimistic for future success and excited to follow through on our vision for 2023-24.

In the year 2022-2023:

Soundcastle delivered 353 creative music making sessions in community settings. We made creative music making accessible to 920 community members. This includes 498 children and young people and 422 adults facing challenging circumstances and socio-economic barriers to music making.

Soundcastle delivered 24 Training and Consultancy sessions. Our training programmes supported 225 creative professionals, including 136 early career professionals and students aged 18-25. Our consultancy supported 206 people, including 26 sector professionals and the voices of 180 children and young people aged 8-18.

Soundcastle launched our Mental Health First Aid training offer and delivered 12 training days to arts and cultural organisations and freelance practitioners. We have supported 95 creative professionals to achieve a Level 2 qualification and become Mental Health First Aiders. Additionally we have supported 6 young professionals to achieve a Level 1 qualification in Mental Health First Aid Awareness and 7 creative professionals to achieve a Level 3 qualification in Supervision for Mental Health First Aid.

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Musical Beacons

Our Musical Beacons programme was embedded across East London, Sussex and Bristol throughout the year, providing high quality music making to families from a wide range of backgrounds. 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 activities.

Over the past year we have developed and sustained 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:

Music Hubs

Disability Services

Accommodation Partners

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Arts and Cultural Partners

In the year 2022-2023:

Musical Beacons Bristol has:

Musical Beacons Sussex has:

Musical Beacons London has:

Our evaluation shows that we are consistently meeting all our social aims

for families who regularly attend Musical Beacons sessions.

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Increased Confidence

97% of community members who completed our feedback survey reported feeling an increase in confidence.

Reduced Social Isolation

‘My child has become more confident in exploring the world around him; he uses sounds, different body movements and has learned to use music to soothe himself when things around him are becoming too much.’ Parent, Musical Beacons London

98% of community members who completed our feedback survey reported feeling an increase in connectedness to their community.

‘The residents enjoy spending this time together with all the children. They can then sing the songs together outside of the sessions.’ ESYPS project worker, Musical Beacons Sussex

‘The group has been helping us to connect to other kids and parents through music and games, it is so helpful’. Parent, Musical Beacons London

Enhanced Wellbeing

100% of community members who completed our feedback survey reported feeling enhanced wellbeing.

‘Attending the sessions helps us to keep a stimulating daily routine where my child can learn and meet other children, socialise with them and sometimes make long lasting friendships with them. He loves attending the sessions.’ Parent, Musical Beacons, London

soundcastle.co.uk @SoundcastleTeam Charity No: 1194955 Company No: 08210076

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People’s Music

Our People’s Music programme continues to expand 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 and New Rhythms, we piloted our first Singing for Wellbeing and Ukulele programmes for adults in the early stages of mental health recovery. For many people, it has been their first opportunity to step out into their communities following prolonged periods of social isolation or hospital stays.

In addition to this, we have piloted our first People’s Music programme in London! We are exploring the viability of regular music sessions during the week at the Paradox centre in Chingford where we already have a base for Musical Beacons.

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:

Sussex

London

In the Summer and Winter of 2022, the People’s Music Collective, our band for adults on a journey of mental health recovery, gave their first live performances since the Covid lockdowns to a total of 97 audience members. The audience was invited to join in the singing and, looking ahead, the band decided they would like to promote their performances as interactive, sharing the concept of Singing for Wellbeing with more people. A film made of their December ‘Winter Warmer’ performance has since gained 378 digital views on YouTube alone, alongside great engagement on our social channels.

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In the year 2022-2023 People’s Music has:

Our evaluation shows that we are regularly meeting all 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 now talk with people I don’t know without the fear and anxiety I used to have and feel able to make mistakes and to try again’ Ukulele Crew member

‘It’s a fantastic place to come and socialise and it’s given me the confidence to speak to people I wouldn’t normally have.’ Singing for Wellbeing member

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Reduced Social Isolation

98% of community members who completed our feedback survey reported feeling an increase in connectedness to their community.

‘The music helps to calm you and lifted my spirits. Each week I feel a bit better and started to talk to people a bit more.’ Singing for Wellbeing member

Enhanced Wellbeing

98% of community members who completed our feedback survey reported feeling enhanced wellbeing.

I’ve found my wellbeing has improved by having something positive in my weekly routine that breaks the monotony of the challenges I face. My mental wellbeing is better as a result of being around positive people and achieving cool things, like writing and performing new songs, and performing them live for an audience. This is something I did before I had my life destroyed and became very unwell. I feel like I am getting closer to being my old happy self, and also undoing the damage/trauma I have suffered. This journey has been long and challenging, but I have been fortunate to have Soundcastle along for the ride, providing me with opportunities to heal and progress.’ PMC member

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Training and Consultancy

Throughout 2022-23, Soundcastle has continued to offer five-star training and consultancy in support of the community arts sector.

Training

In Summer 2022, we completed our pilot Sparking Change programme for 18-25 year-olds and it is now in the process of being developed having recently received renewed funding from Youth Music. We are building an ongoing relationship with the Royal College of Music, providing a bi-yearly creative music class for all second-year undergraduate students which introduces the principles of inclusive creative practice.

This year, Soundcastle launched our Mental Health First Aid training offer in a mission to improve wellbeing, resilience and understanding of mental health across the sector.

Consultancy

By delivering consultancy, we continue to expand our sector's 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. Soundcastle worked with the 6 South West London music hubs to deliver a consultation on the use of digital technology in music education which concluded in May 2022. In total, Soundcastle facilitators spoke to 180 young people ages 8 - 18, across 8 creative consultation sessions.

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In the year 2022-2023 Soundcastle has:

Delivered 11 training sessions which have:

Delivered 12 Mental Health First Aid training programmes which have:

Delivered 13 consultancy sessions for 3 organisations (Abi D’Amore & Associates, Every Copy Counts, South West London Hubs) which have:

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Increased Confidence

Reduced Social Isolation

'This course was really rewarding, and it’s so imperative that we all work to better educate ourselves on how to support others with their mental health. I would recommend this course to all employers and employee’s! Such a beautiful team of people ' MHFA Attendee

Enhanced Wellbeing

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Digital Reach (2022 - 2023)

New Facebook followers: 58 (+93.3%) New subscribers: 120 Total Facebook followers: 943 Total subscribers on YouTube: 253 (Valid Facebook reach: 6,456 (+7.3%) on 31st March 2023) Instagram reach: 13,817 (206.7%) Total subscribers on YouTube: 276 New Instagram followers: 80 YouTube views: 45,800 Total followers Instagram: 698 Followers on Twitter: 1,941 Total followers on LinkedIn: 321 July 2022 to March 2023: +45 followers on LinkedIn

Future Plans (2023-24)

We are looking ahead to the coming year with a more positive funding outlook ahead! We will sustain and expand our work, embedding long term Musical Beacons and People’s Music programmes which continue to respond to essential local needs. We will host our training and consultancy programmes with a greater emphasis on live (rather than online delivery), supporting the sector to engage with high quality working practice in community settings and always striving for positive social impact.

Internally, as always, we will build upon our existing skills, offering Racism Awareness training throughout Soundcastle. Further, we plan to focus on our staff’s wellbeing at work, completing our team consultation process which will be followed by a formalisation of a Health and Wellbeing Agenda and Policy within the Soundcastle team.

We will continue developing and delivering our comprehensive fundraising strategy with an ongoing view to securing long term core costs. This will provide stability for our community partners, consistency for our staff team and, essentially, ongoing programmes for the community members who sit at the heart of our work.

2022-23 has been a year of transition, change and resilience. Our rewarding programme delivery and mission to make a positive difference to our sector reminds us of the importance of the work and the strong need in our communities. We are proud of how far we have come in a challenging social and fundraising climate, and we look ahead to the year to come with renewed focus and optimism!

soundcastle.co.uk @SoundcastleTeam Charity No: 1194955 Company No: 08210076

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Financial Review

The financial statements attached detail the financial position of the charity for the year ended 31st March 2023.

Incoming resources for the year totalled £215,999 of which £147,905 were for restricted purposes. Outgoing resources for the year were £238,636 of which £209,103 were attributable to restricted funds. Restricted funds carried forward at the year end totalled £49,619 and unrestricted funds totalled £68,330.

Our earned income was £47,586, representing 22% of our total income through sales, commissions, coaching, consultancy and Mental Health First Aid training.

We are grateful for the ongoing support we have received from a wide variety of charitable funders including Arts Council England, the National Foundation for Youth Music, The National Lottery Community Foundation, the London Community Foundation, Children in Need, Sussex Community Foundation, Arts Award Access Fund, the Trusthouse Community Foundation, the Rayne Foundation, Postcode Society Trust, Jessie’s Fund, the London Borough of Waltham Forest, the Nisbet Trust, the Chalk Cliff Trust, the Ernest Kleinwort Charitable Trust, the Foreshore Trust, Skipton Charitable Foundation, the Souter Charitable Trust, the Waltham Forest Community in Fellowship Fund and Worthing Community Chest.

We would like to extend our thanks to all our funders for their generous support of the charity’s work in the 2022-23 financial year.

Reserves Policy

The trustees have considered the 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:

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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 holds unrestricted reserves at a level equivalent to three months’ core running costs. The trustees consider that this level of reserves should be maintained on an ongoing basis in order to ensure the future financial resilience of the charity.

As per the enclosed accounts, expenditure on core running costs in 2022/23 was £190,533 and therefore the minimum level of reserves is £47,633 in general funds.

Due to the charity’s planned growth in 2023/24, projected expenditure on core running costs will be significantly higher at £245,820, therefore the minimum level of reserves required will be £61,455.

On 31st March 2023 unrestricted reserves totalled £68,330, therefore the trustees are satisfied that the charity is able to maintain sufficient reserves in line with the reserves policy during this period of growth.

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:

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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.

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 13[th] October 2023 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 2023

Responsibilities and basis of report

I report to the charity trustees on my examination of the accounts of the company for the year ended 31 March 2023 which are set out on pages 20 to 34.

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).

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.

Manningtons Chartered Accountants 39 High Street, Battle East Sussex TN33 0EE

Rowena T K Walsh (FCCA) Date: 03.10.2023

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Statement of Financial Activities for the Financial Year Ended 31 March 2023

Notes Unrestricted Unrestricted
Restricted		 Total funds Unrestricted
Restricted		 Total funds
funds funds 31 March funds funds to 31 March
2023 2022
Notes
£		 £ £ £ £ £
Income and
endowments from:
Donations & legacies
2
8,153
-
8,153
1,962		 1,962
Charitable activities 2
59,941
147,905
207,846
52,479
217,643
270,122
Total 68,094
147,905
215,999
54,441
217,643
272,084
Expenditure on:
Raising funds 42
-
42
51
-
51
Charitable activities 3
29,491
209,103
238,594
44,320
180,410
224,730
Total 29,533
209,103
238,636
44,371
180,410
224,781
Net income /
(expenditure) 38,561
- 61,198
- 22,637
10,070		 37,233 47,303
before transfers
Transfer between
funds		 - 1,455
1,455
-
-
-
-
Net movement in
funds		 37,106
- 59,743
- 22,637
10,070		 37,233 47,303
Reconciliation of
funds:
Total funds brought
forward		 31,224
109,362
140,586
21,154		 72,129
93,283
Total funds carried
forward		 68,330
49,619
117,949
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 31st March 2023

Balance Sheet as of 31st March 2023
Notes
31 March
2023		 31 March
2022
£ £
Fixed assets
Tangible assets
10
529		 685
Total fixed assets
529		 685
Current assets
Debtors
7
5,580		 2,546
Cash at bank and in hand
9
115,696		 146,132
Total current assets
121,276		 148,678
Creditors: amounts fallingdue within oneyear
8
3,856		 8,777
Net current assets/(liabilities)
117,420		 139,901
Total assets less current liabilities
117,949		 140,586
Creditors: amounts fallingdue after oneyear
10		 -
Total net assets/(liabilities)
117,949		 140,586
Funds of the Charity
Restricted funds
11
49,619		 109,362
Unrestricted funds
11
68,330		 31,224
Total funds
117,949		 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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accounts required by the Companies Act 2006 and are for circulation to the members of the company.

Approved by the trustees on 13[th] October 2023 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.

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.

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.

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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 reliably.

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.

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).

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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.

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

2023 2022
Unrestricted
funds
Restricted
funds
Total funds		 Total
funds
£
£
£		 £
Donations and legacies:
Donations andgifts 8,153
-
8,153		 1,962
Total 8,153
-
8,153		 1,962
Charitable activities:
Grants 12,355
147,905
160,260		 225,789
Earned Income 47,586
-
47,586		 44,333
Total 59,941
147,905
207,846		 270,122
Total income 68,094
147,905
215,999		 272,084

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

During the period Soundcastle received the following amounts
from Government grants:
£
Arts Council 27,000
National Lottery Awards 10,000
Waltham Forest Community In Fellowship Fund 2,236
Waltham Forest Community Ward Funding 1,455
Kickstart Scheme 3,181
43,872

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Note 3: Analysis of expenditure
2023 2022
£ £
Direct project costs 48,103 61,088
Depreciation 156 204
Salaries and wages 176,984 156,562
Travel 293 41
Staff training 125 263
Insurance 683 -
Rent 6,781 2,856
Other expenses 1,185 600
234,308 221,614
Share of support costs (see note 4) 1,884 1,113
Share ofgovernance costs(see note 5) 2,444 2,003
238,636 224,730
Analysis by fund
Unrestricted funds 29,533 44,320
Restricted funds 209,103 180,410
238,636 224,730

Note 4: Governance and Other Support Costs

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

apportioned as shown below:
2023 2022
Support Costs
Total		 Total
£
£		 £
Website 95
95
69
Subscriptions 1,748
1,748
1,039
Postage and stationery 40
40
5
1,884
1,884
1,113
Governance Costs 31 March 2023 31 March 2022
£ £
Independent Examination 720 1,194
Accountancy Fees 1,200 272
Payroll Fees 524 537
2,444 2,003

soundcastle.co.uk @SoundcastleTeam Charity No: 1194955 Company No: 08210076

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Note 5: Details of certain items of expenditure

2023 2022
£ £
Independent examiner’s fees 720 1,194
Other accountancyfees 1,724 809
Total 2,444 2,003

Note 6: Employees

2023 2022
£ £
Salaries and wages 166,581 139,900
Social security costs 6,781 6,790
Pension costs (defined contribution scheme) 6,168 5,409
Other (2,546) 4,462
Total staff costs 176,984 156,561

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

8.2 Average head count in the year
2023 2022
12 11
Total 12 11

8.3 Key Management Personnel

The remuneration of the key management personnel is:

2023 2022
£ £
Salaries and wages 110,130 116,538
Social security costs 9,438 10,016
Pension costs(defined contribution scheme) 4,406 4,662
Total staff costs 123,973 131,216

No employee received remuneration over £60,000.

soundcastle.co.uk @SoundcastleTeam Charity No: 1194955 Company No: 08210076

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Note 7: Debtors

Amounts falling due within one year Amounts falling due within one year
31 March
2023		 31 March
2022
£ £
Accrued income 1,455 2,546
Salaries Payable - -
Gift Aid Debtor 1,848 -
Accounts Receivable 2,277 -
Total 5,580 2,546

Note 8: Creditors & Accruals

Analysis of creditors: falling due within one year Analysis of creditors: falling due within one year
31 March
2023
31 March
2022
£
£
Accruals and deferred income
1,920
7,772
Accounts Payable
268
-
PAYE Payable
1,132
-
Other creditors
536
1,005
Total
3,856
8,777
Deferred income comprises of income received by the Trust in 2022 for activities taking
place in 2023.
£
1,800
(1,800)
-
-
Balance at 31 March 2022
Amounts released to income earned from
charitable activities
Amount deferred inperiod
Balance at 31 March 2023

soundcastle.co.uk @SoundcastleTeam Charity No: 1194955 Company No: 08210076

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Note 9: Cash at bank and in hand

31 March
2023		 31 March
2023		 31 March
2022
£
144,026
2,106
146,132
£
Current Account 113,050
PayPal 2,647
Total 115,696
Note 10: Tangible Fixed Assets
Plant and
machinery		 Computer
Equipment
Total
£ £
£
Cost
At 1 April 2022 868
3,922
4,790
Additions -
-
-
At 31 March 2023 868
3,922
4,790
Depreciation
At 1 April 2022 712
3,393
4,105
Charge for theyear 23
132
156
At 31 March 2023 735
3,525
4,261
Net book value at 1 April 2022 156
529
685
Net book value at 31 March 2023 133
397
529

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Note 11: Charity funds

Note 11: Charity funds
Balance
at 1 April
2022		 Income
Expenditure
Transfer
between
funds		 Balance
at 31
March
2023
£ £ £ £ £
Restricted Funds
National Foundation for Youth Music 33,785 33,988 (65,609)
-		 2,164
Arts Council England - 27,000 (27,000)
-		 -
The National Lottery Community Fund 6,169 10,000 (9,169)
-		 7,000
London Community Foundation 11,629 15,000 (21,629)
1,455		 6,455
Sussex Community Foundation 5,000 15,000 (13,000)
-		 7,000
Arts Award Access Fund 68 - (68)
-		 -
Trusthouse Community Foundation 9,500 - (9,500)
-		 -
Arts Council England: Cultural Recovery Fund 8,481 - (8,481)
-		 -
The Rayne Foundation 3,649 12,000 (11,649)
-		 4,000
Postcode Society Trust 20,997 - (13,997)
-		 7,000
Jessie's Fund 2,084 - (2,084)
-		 -
The Nisbet Trust 5,000 - (5,000)
-		 -
Government KickStarter training element 3,000 3,181 (6,181)
-		 -
Children in Need - 20,000 (10,000)
-		 10,000
The Ernest Kleinwort Charitable Trust - 3,000 -
-		 3,000
The Foreshore Trust - 1,000 (1,000)
-		 -
Skipton Charitable Foundation - 1,000 (1,000)
-		 -
The Souter Charitable Trust - 3,000 -
-		 3,000
Worthing Community Trust - 1,500 (1,500)
-		 -
Waltham Forest Community in Fellowship Fund - 2,236 (2,236)
-		 -
109,362 147,905 (209,103) 1,455 49,619
Unrestricted Funds
The Chalk Cliff Trust 3,000 5,000 (3,000)
-		 5,000
Children in Need - 500 (500)
-		 -
London Borough of Waltham Forest 1,500 1,455 (1,500)
(1,455)		 -
General Funds 26,724 61,139 (24,532)
-		 63,330
31,224 68,094 (29,532) (1,455) 68,330
Total Funds 140,586 215,999 (238,635)
-		 117,949

soundcastle.co.uk @SoundcastleTeam Charity No: 1194955 Company No: 08210076

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

soundcastle.co.uk @SoundcastleTeam Charity No: 1194955 Company No: 08210076

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Restricted Funds:

Funder

National Foundation for Youth Music

Arts Council England

The National Lottery Community Fund London Community Foundation

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 Children in Need

The Ernerst Kleinwort Charitable Trust The Foreshore Trust

Skipton Charitable Foundation The Souter Charitable Trust Worthing Community Trust Waltham Forest Community in Fellowship Fund

Description of Fund

Grant funding received in 2022/23 financial year in support of the cross-regional Musical Beacons and Sparking Change programmes, and development of the Soundcastle Health and Wellbeing Agenda. Grant funding received in 2022/23 to support People's Music Sussex programme delivery. Grant funding received in 2022/23 to support People's Music Sussex programme delivery. First instalment of multi year grant received in 2022/23 financial year for Musical Beacons and People's Music London programme delivery. Grant funding received in 2022/23 for the People's Music Sussex programme, and the continuation of essential services. Grant funding received in 2021/22 financial year for delivery of Arts Award qualifications through Musical Beacons Sussex. 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. Second payment of multi year grant supporting the People's Music Sussex programme, received in 2022/23. Grant funding received in 2021/22 financial year for People's Music programme delivery. Grant funding received in 2021/22 financial year for Musical Beacons Bristol programme delivery. Grant funding received in 2021/22 financial year for Musical Beacons Bristol programme delivery. Grant funding received in 2022/23 financial year for Musical Beacons London trainee replacement. First two instalments of multi year grant received in 2022/23 financial year for Musical Beacons Sussex programme delivery. Grant funding received in 2022/23 financial year for People's Music Sussex programme delivery. Grant funding received in 2022/23 financial year for Musical Beacons Hastings instruments. Grant funding received in 2022/23 financial year for Musical Beacons Bristol instruments. Grant funding received in 2022/23 financial year for People's Music Sussex programme delivery. Grant funding received in 2022/23 financial year for People's Music Sussex programme delivery. Grant funding received in 2022/23 financial year for Musical Beacons London programme delivery.

soundcastle.co.uk @SoundcastleTeam Charity No: 1194955 Company No: 08210076

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Unrestricted Funds:

Funder Description of Fund

The Chalk Cliff Trust

Children in Need

London Borough of Waltham Forest

Donation received in 2022/23 financial year in support of the Musical Beacons Sussex programme.

Grant funding uplift received in 2022/23 financial year in support of increased core costs during cost of living crisis. Donation received in 2022/23 financial year in support of the Musical Beacons London programme.

Note 12: Analysis of net assets between funds

Note 12: Analysis of net assets between funds
Unrestricted
funds
Restricted
funds
Total
Fund balances at31 March 2023
represented by:		 £
£
£
Tangible assets 529
-
529
Current assets/(liabilities) 67,801
49,619
117,420
68,330
49,619
117,949
Unrestricted
funds
Restricted
funds
Total
Fund balances at31 March 2022
represented by:		 £
£
£
Tangible assets 685
-
685
Current assets/(liabilities) 30,539
109,362
139,901
31,224
109,362
140,586

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.

Akhila Krishnan paid Soundcastle a monthly fee of £200 for a desk space at the Soundcastle offices for the period July 2022 to March 2023.

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 £370 for graphic design and video editing work. He is Jennifer Parkinson's partner.

Rachael Perrin, Co-Founder and Strategic Development Lead

Gareth Wildig was paid £3,800 for website design, build and accessibility workplan photography and film work. He also received payment £461.30 as reimbursement of related expenses incurred. He is married to Rachael Perrin.

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

soundcastle.co.uk @SoundcastleTeam Charity No: 1194955 Company No: 08210076

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