Tn•*' Rwt131 D￿lI￿r2023
music
F O b 11 D A T l O 11
enriching life thn>ugh music
Trustees, Annual Report and Financial Ststements
31 December 2023
MuslcAblllty Foundatlon I Charttabl• Incorporat•d Oryanlsatlon
Reglstered Charfty Numbw 1197197
Mu8leAbillty Centre. 10 Parndo Str#L P•nzanc•, Cornwall TR18 4BU

Trustees, Annual Report
music 4
Contents
Pago
Reference and adrninistrati￿ ddals
ob￿tiVes and thit
Financial revw and results for the year
Investment
Statement of tru8t888' r88ponsibilitie8
10
Ind•pend•nt •x4mlnof• rqport
Charity Statern￿ of fina￿la1 8thilJes
Charity balance sheet
11
12
13
14

MusicAbl￿ty
TN¥tee5' Annual Report | 31 Decemter 2023
TRUSTEES. REPORT
Forthe year to 31 D8cemb8r 2¢r23
Th8 tr￿tea$ are pleased to pregent their repxt tofft v￿th the audited (y)nsoiidated financk91
statements of the Mus￿A￿.Ity Foundatw)n cio Foundation") for the year to 31 December
2023 and can confimi that thè latter ¢(Mnpty wilh ￿ requirwnents of the Charities SORP 2019.
The financial statements have been prepared in ￿)rdance with thè S￿Ounting policies set out in
note 1 to the finar￿la1 statements and compty *rylh the Charit*s Acl 2011 and"Accounting and
Reports'ng ty Charitles: Staternent of Rec#)mmended Practice applicab￿ to Charit￿ preparing their
accounts in aC￿dance wrth the Fnancial RewliThJ Standard applicth in the UK and Republic
of Ireland (FRS 102) (effedl¥8 l JafiU￿ 2019)."

MusrcAbility Foundat￿ft
Tntslees, ArvKwI Rewt131 December 2023
R•f•renco and Administrative Datsils
Registered name
MusicAbilty Foundation
1197197
Charity registration n￿rn￿r
Trustges
The Trustees at 31 0￿ber 2023
Tery Jane Blnns
Dr Mimi Jade Samantha Bird
Jowanna Brw Conboye
Michael AntPKXry Conbwp
E<Wd Nicholas Franci>Smith
Julla Havard
Dr Paul James Hod80n
John J08W Mag98
Chantélle Lou18e Mooxe
T￿ya Maria Ellen Mo
Offle•r•
Chalr
Julia Havard
8•nk•r M•nag•m•nt Tmm
Chief Exe(xrtfve Oftkxr Tkn 8wltOD
Chief Operakns OlThcer Ruth 8￿tt0Th
The principal and operatng addr8ss ofthe
MUs￿bilty Foundation
MUS￿Abl￿ty Centre
10 Parad8 Street
Cor￿￿11 TR18 48U

MusKAbifjty Foundatt
Trus*es' Annual Rewyt | 31 December 2023
Structhre. Governance and management
Governing instrument
The charity, which a Charitable 01￿1$allOn. is gOV￿r￿d ty its ConSti￿on dated
17 D￿ber 2021.
Rgcruiljnont •nd induction of lJu•t•e•
FollNing a skills 8udiL trustees are sougm wlKJse skills, and experience are relevant to
the administration ofthe charity and compknnent thè skdls of the existing trustees.
New trustees must be by resOkrtm￿ at a proFerly convened meeting of the charity
truste88. Th8 Chair of trus* is reSpO￿lbIg forthe indudion of trustees.
Trustees on appointment gr¥en:
1. A copy of the Charlty Commisslon* publicat#)n Tr Essentitil Tnmteè: What you need to
3. A COFry of the late6t Truth. Annuol Rewt aThJ 8tatwnwrt of accounts.
4. A copy ofthe mknutes ￿ r&ent meetings.
They are gNen a olthe Mu8kAliIty Cthth, 10 P8r•J8 8treo( Penzm and meet the
tru8te88 ond the sen￿ managemert t￿.
Organl•atlon
The Chwr of trustees 18 re8porffjible for the athn1nlstrati￿ of the th81ity.
Opw8tkn81 control18 delegth to the Chief Ex8orti¥e Oflker and tho Chlof Operations
Officer.
Rl•k Manag•m•nt
The trust868 l*ve 888e$8ed the major to wh#* the Charty Is cyrrenty exposed, In
partiwlar Iho8e relating to its finaKes and it8 operation8 (including health and safety) and they
are satisfied that 8y8tans are in pkn to monitor and mitw the exposure to such
risks.
TW are 8180 satisfied tfAt a robust {Yoced￿ is in place for identifymg aThJ evaluating th8

MusKAbiThty Foundat
Trustees. ReF￿131 December 2023
ObJectlve8 and acllvllieo
The objects of the CIO are:
pubk arnl fiYy(￿￿j iKrt rKrtexcktsW. in CcThvall and elsew￿ in
The trustees are granted wkle p(ywers to xhleve th888 owts, whith set out in th8
Constitution.
Intsr alia th880 relate to..
2. 8uylng. leasing or hiring w(¥Jety
3. Selling leasing or othwwise di8PO8trKJ of
4. Employing and remunerating staff
5. Lknp(th'ng or inve8tlng fvndts
R•vl•w of aChIw￿l0nts and publk b•nafft for 2023
The tru8tees have referred to the Chwity Commlsslon'8 general guhlance on publlc benefrt when
reviewing the aims and objectives and in planning future activibes.
Thi8 ha8 been extremely buoy, commenciNJ with ￿ OF￿ Day we held at Mu8i¢Abilty
Centre, 10 Parade Street. Penzance, hj January 2023. This event gave people and local
organisation8 the opportunty n(* onty to se8 ar(￿nd the IwiklirvJ, part￿ul￿rtY the fulw operotbn
muslc therapy r￿M and the first Iloor A88embty Hall. but also to meet the trustees and to leam more
about our plans for the future. The event was a huge $￿ceSS wilh 138 vi8llors and unanimous
support for the projed and our ambitions. not onty from attendiNJ on thè day but d80 in the
Among the vistlors that day were rewesentatives from several organiSat￿n8 supporting young
peopk. As a resutt of the interest generated ty the pU￿1th and open day there has been a surge
In the nUffl￿r of people asking abcrtrt music thryy.
TI￿re were thght Scheduled trustsè rn88tiThJ$ during 2023 and. 86 the8e hekl In the
evening, light r8fr8shmwts made avalgble for th088 attending dlre¢ty fTCffi work.
In this second year of the charivs opwallon. the trustees o)ntinued to d8VOte a sYJnthcant amount
of Ilme and effort to draft6ng. approvtng and reviewing essential policies. More policies a￿ still at the
draft stsge and the tnjstees have set themgeTrrfes a targetto fomialty approve them in the year ahead.
Following reCoMmerK￿ made at the Safeguwding Tr8intrig Session for MusicAbility Foundth'on
trustees, held al the ermj of March 2023. all trustees now have Enhanced DBS checks and a specific
mention ¥b￿rt our Safegu8rdiNJ PolcM prctedurns for both Chik1￿ and Vuln8rable Adults
has been added to our website.

Musl&4tMlity FOunda￿n
During the year, the were able to deliver on I￿r d￿rrtable objects, for the public benefft. in
the foll0v￿ng ways..
MUS￿ Thwapy sessions in Musi4bilty Cwth, including a dinical ￿nt for an MA
student. There were atK)ut 60 clients (and supervtsees) wrth needs ranging from neur
condrtions, leaming disabilii*s. aixjse and ne9lwl emoti￿81 and t)eha￿ural difficutties and
famity bondiThJ prObkn￿"
Trustees, Annual Report | 31 D￿ernber 2023
meetings were with health. eduotm arKI ￿￿lIare wofessionals and porents.
al￿ 20 regularwe8kty mux lessons were held in mUS￿Abl1￿ Centre.
weekty Y￿ mugic group se8sM)n8 TA*re hold wlih Penzance Junlor Strings. BOWS and
KERcOplM￿y.
we SUpp￿d the Penzance Junior sth.ngs when tw invited to th8 National F88tival of
Muslc for Youth, atts H81 ￿23. where they received 8xcellent
tennty concerts were gNen ty youry pwjlo to parents I families, usualty with about 20
Pary Ensembla wf0M￿ to an invited audience in D8(*mb8r 2023.
8 néw whlch 20 begiinerviolin celo students 8t St. Mwlè CofE prlmary
school, most receiving burww)s with lundlng from MusicAbilty Foundatlm, including
donation8 from St. Paul'8 Trt*t.
a grant from the Frost Trust SUPPCAted the 8teit of a 2 year Flrnf programme for
we held an O￿n Day in June 2023. for the of the Golowan Festival In Penzanco,
provlding rnu￿ technology recudlryJ eXww￿¢8 f￿ local youThJ pwb& and a reheatsal
Space for the Festival music concert8.
the trustees. Music Educakn worklng grr)up produced a 2-page leaflet called 'lnfomiation
for Scr￿1 Lee•Jers', to infomi leaders al￿ the nation81 plcture on Ihe study of musi¢
for children in thal sd￿18, and what ￿ propo￿ doing atx)ut bt. The leaflet includes
infonnation on the national currth5um. the NatK)n81 Plan for MUS￿ EducAtK)n, and Otsted'8
nv4¥ music subject report (Septernber2023) arKI knthat is required underthat. The leaflet go68
on to tslk ab)ul hcw we can help.
we afe receiving a large number of donated Instruments for students to U8e and as 80me of
them are in need of repaw. ￿ have set up an instrument repair fund forwhich we are actNety
seeklng fundlw.
Improvements and repair work Contin￿ to b8 carrled ¢xrt at the P8r* Street building- mUS￿Abl1￿
Cenlre . and a Feasilillty has been ¢x)mpknl ￿ fundiNJ from th8 Archltectural Herllage
Fund.
Part of this funding covered a Fknilagè R8w( Crffit￿ed amaztng details about the building.
The Ststement of Sp3niftsnce in the re￿rt is pariKularty notth¥orthy sayng".
Tr biJtvNKYJ R(nn ftK¥) isa valuable surrival in a
natrJn81 context.

MUS￿lI1ty FcMxKlatic
TnJstees' Anr￿￿1 Report131 t)ecember 2023
Being old8r than St Marfs parish church. and the Market Hall. and St Johns Hall (whKh
inco￿Orated the publioly aCce￿ble func*K￿S dth8 bumding) the bU￿ling represents
probably the largest suryNing puryx)se buHd instKutional building of ks date and type in
Penzance."
Th8 tru&888 rwnise the of furthèr d8v8kyirKJ Str￿ links and r81ationships with local
charities and the kKal communty and a)nsider that the tharty is very fortunate in OUT continuing
close rdationship with a thal Communty Interest Company - MusrAbilty CIC - whth has an
outstanding repuith'on, in part￿lar ￿ delivering mux theraw. relatKMth¥i of huge
Finally, in this Rwew of 2023, the trustees wish to re￿￿, once again. their sincere thank8 to both
the Chief EXe￿e Oflthr and Chlef Operatlons Olllcer for their Immensely valuable contributlon
to the success which the chanty has achieved in its s￿Ond year of operat￿n.
Fln•n¢l•l rgvlow and vo•ults for the year
In the charty's set of acLx)unts for the period ending 31 December 2023 the Net Income wa8
£23,35212022" £575,870].
Total Income of £61.15112022 £619,860] ￿npriSed donations of £7,32012022 £599,101].
rental income of £20.61112022.' £19,81 n and grants of £33,220.
Expenditure totalled £37.79912022: £43.990].
In the balan￿ sheet. our total charity fvnds, £6,1￿0 of vthich i8 restr￿ted fvnds, comprised
Fixed Assets of £559,33612022.' £5M.5001, cash at the bank of £41.022 [2022: £35,054], less
current ¢redrtors of £1.136.12022'. £3,684]
The trustees confirmed that funds whlch had been donated from Penzance Youth Strfng
Orchestra and Concerts Penzance are put to side- ringfenced not restricted fund8.
Re•erv￿ polky
The charity h88 jU8t completed its Second financwl yow WKI tlprefore doe8 have 8 Ilmited history
of i￿Nn8 arKI ex1￿￿1[0 to which rt can refer.
The positr4e side of being relatNety is that the charrty has litue in the w of ongoing financial
commitments other than the upkeep of the two buikjiros whith it acqulred Sh￿ after its
e8taAishment. To help cover these onwng costs the charity has irwme frcAr leltings from those
two building8.
Thi$ currentty represents the charity8 onty sour(x of regular, rea80nably welkdefined income. As18
the case at there will be period8 vthen 11Th of thi8 income bs not fOrth￿ing.
The prime risks to this Ir￿Qme are the charitys inabilty to firKI nthv tenants as and when required
andlor that one or more of those tenants faib to ￿ rents as and when due. This is mitigated to
8ome extent by the facl that the charty currentty has srx letting units in totsl and therefore the risks
are spread w those six units.
The charivs 6xp8nditure comrnilments fi.e. rwKlis(xetKrnry) are similarfy ¢entred on the two
propertie8.

MuS￿￿￿￿ty Foundation
T￿￿. Annual Rewt131 December 2023
There are, at present two prim￿ financAI risks thal the charity faces for which there is a r￿ to
have a level of reserves.
The first is that the rentsl in(x)Th* falls 8hcYt of exp￿tsti￿$ due erlPw to tenants leaving and the
propety beiThJ empty for an unspBitsJ PWKMI aThllor to tenants n(rt paying their rents. The
likelihood of all units being emptyinorkykkjlng at th8 same time shouhj be slim tmrt is not beyond
the realms of wibilty.
The second is that ongoing expen(rrture related to the IY4D buildings cannot be covered by regular
rental inwne either b￿USe the rental income is interrupted (as above) or an unexpected
expense ar￿$, e.g. a major repairlmaint8nanc8 blll.
GNen that uncertainty is going to b8 * its highest in the d)ariVs ffirst fthv years of existence ther8
18 a need to be mKlent In setting the ￿ltI81 level of re8ern. It IS worth n¢)tlng that Office for
National Statistu ￿ule5 show that li the UK only 41YA of tA*in888 Start-ups Sutvive their first five
years.
The twstees have agreed 818vel crf rese￿ of £25.IXK) Th18 Is based on 8 30% shortfall for one
year in expected rental incom8 plus a ￿liding costs conting8nq of £15,000. to covèr, for example,
8 short tem UneXpert￿l 8wJnificwrt repaw.
The amount hekl in reswve will be reguty nTh)niicKed during the cour8e of each year as the
charity'8 kMYledgo and experi8nc8 (A its wKom8 and expenditure incroa888 d8vel¢¥)8.
Thé level of re$￿ve will be fcThalty revlewed ty Ihe trustees at the financial yoar4nd and
thereafter at six monthty inteNals.
Fundr•l•lng polky
A Fundlng Opkns Repor( FYoduc*d by a klcal fundraising Ix)nsutt8nt. was re(xived in May 2023
and the tru81eo8 have b8en folloMng up on the recomrr￿￿Iknj made by the consultant.
The charity h88 not. 88 yet, carried out any other formal fundraising ￿trIty, but occasionalty
members of the wtrAic do make donati￿8 Wh￿ are acctyjnted for through the charity's finan¢ial
man4ement 8yStern8 &KI the charity has ffl(￿e than read￿d its d88ir8d r88erve figure.
Inv88tmont pollcy
The tru8te88 are entitled to place furKls In ory kffKI of investrne￿ ttwt thry see fft.
The current ￿lIcY of the trustees is to hold any surplus funds on sfK*rt terni deposlt, appTrOng the
Income generated to charitable pU[pC￿ for whth the funds are intended.
The trust885 re(xNJni8e that a hkJher level of retum could be obtalned ty pknlng fund8 In rBki8r
]uity or othw investments. This is outsmje the p8r8meters of the current investment policy.
Statement of trustees. v•8pon8lblllll•s
¢ordance with appl￿ble law and Untted Kirydom A￿X)Unting Standards {United Klngdom
Generalty Ac¢epkd Acccwnting Prth}.
Law applicable to Charit￿ in England and Wales requires the trustees to p￿pare financial
statements for each financial year. The financial 5Lth￿nts ￿ required by law to gNe a true and

MusiAbil*y Foundation
Tr￿￿tees, Annual Report131 December 2023
fair view of the st* of affairs of the tharity and group. and of the financial activitsts of the charity
for that year.
select sutlable accounting p￿1￿ and then appty them consistenty:
observe the methods and principles in the Charities SORP;
make JUdg￿ents and estimat8S thal are reasonth and p￿d￿tt.
state whether applicable aco)untiro standards have been folkywed. subject to any material
departures disck)sed and explain&1 in the finarK4al statements:
prepa￿ the financial Statem￿ on the going concem basis unles8 rt is iriappropnate to
presume that the charity will in operati￿.
The trustees are required to ￿t in accordance with the Constitution of the tharity, within the
framework of chority law. They are resp#￿S*jI8 for keepiNJ proper xcounling records which
disdose with reasonable at any time the fina￿181 p)srtion of the charity and to enable
them to ensure that the than￿1 statements COM￿ wlth the CharitM kt 2011.
They are al80 responsible lakiThJ wch steps 88 are reosonabty open to thwn to safeguard the
888ets of the charity and to wevent and dtht frwd and dher fTegularitie6.
8tstoment of dl•clMur• to Ind•p•nd•nt •xamln•r
So far 88 the trust￿ are aware. Ihwe18 no relevant information ofwhi(* the charity's examiner 18
unaware.
Additionalty, the trustees have taken all th8 n￿esSary Steps that th8y ought to have taken 88
trustees In order to make themselves of all re￿￿rt inf(xmgkn aNI to e8tabli8h that the
charty's examiner 18 awar8 of that infC¥mati￿.
By order ofthe truth￿.
M. A. Conboye
For and on behalfof the tr￿te88
17 0(*ober 2024
Musi¢Abilty Foundation
MusicAbilty Centre
10 Parade Street
Penzance
Comwall TR18 4BU

Tn•loe8' AnTh￿l Rewt131 D•c•mb•r 2023
INDEPENDEKT EXAAINEifs REPORT TO
THE TRU8TEE8 OF IAU8ICABILfTY FOUNDATION
I report on Iho •(x(wnts of tho dwrity the yoar 31 Dec4mber 2023 whlch arn set out on
P8908 12 to 17.
R•*pon￿bIlItI•* and bMl• al i•port
th8 wulrem8nts of the Charttl88 Aca 2011 (Ihe Arf).
I report In row of my w2mlnatlon (rf tho tharty8 acc£￿nts Carr1￿ oirt undor 8ac*on 145 of the
Act and In (arrylng txrt my WAamlnalkn I h8¥e au the appllc4tAe dlreotk)n8 glven by the
Charity Commh81on under secllon 145(SXb) of the Act.
Ind•p•nd•nt •xamln•f• •tat•m
I have completed my oxamlnatlon. I confirm Ihat no matoflal mattarn hm come to my att￿tIon In
nne¢Uon w6th •xamh)akn glvhw rn ¢auw kn ball￿ thal In any mat￿lfil ro8P8Ct.
1. accounllng r￿d8 kgpt kn reapect ofth• thadty a8 r•wlrod by 8•ctton 130 oftho Art
3. the actounts do L¥%￿ ￿ th8 opplkable r•wlren*nts concomlng th• fom and content
of acc¢yJnts 8•1 ￿t In th• Charltl88 {kn(MJnts and Rwrts) R•gulat5on8 2008 other than any
requlren*nt that the 8ccLwnts glv• a arKI fak ¥1￿ not a mattar ￿nSIdered a$ part
of an Indopw￿8nt •xamlnatlon].
I have no Ix)nc8m8 and have oyrn aryo8s no olher matters In conn8ctlon wfth the 8x8mlnatlon
to which atten1k￿ stK)uld be dra*n In thls rep(xt In onl8r to Mable a proper undor8landlng of
25-
10- 20£
Narn•: tNck Mwl• F.C.A.
Member of Instlluts crf Chwtared fvmwntsnts Erdand and W8108

Tn￿le8s, Anr￿al ReF4Xt131 December 2023
Statement of Flnancw Activllies Dncluding Incom• and ExpOnd￿re Accounti
for the year ended 31sL Docember 2023
unrestric￿ Restrict￿ Total
Funds
Funds
Funds
2023
2023
2023
2022
Donations
Donated assets
Charitable actNilies.'
Rent and room hire
Grants
Miscellane(￿$
Total Incom•
7.320
49,101
550,000
20.611
20,611
33.220
19,817
33.220
27,931
33.220
61.151
819,860
Exp•ndliur• on
Charitable actiN?ts8
17)
Net IncomwT•xpondllur•]
17,352
23.352
575,870
Reconcl￿allOn of fund8
Total funds brwiht f(Thard
Tolal funds Carr￿d forwwd

MUS￿bI￿ty F￿ndal
Twstees. Annual Rewt | 31 December 2023
Balance sheet as at 31sL December 2023
2023
2022
FIX￿ a888ts
Tanglbl• a88•ts
544,500
Cash at bank arKI on hand
Total current aM4ts
41.022
35,054
Current Ilablllll••
Creditor8'. amounts f8llk¥J
due within 12 monttr
Not Curront a8••t•
Th• funds of th• ehaflty:
Unmtrlctod funds
G8ner81 lunds
31,370
Designated Funds
Ro•trl¢t•d fund•
Total charfty funds
87
These financi81 Statem￿ were approved ty the Trustees
on 17 OCto￿r 2024
M A Conboye
For and on behalfof the Trustaes

MusicAbilty F￿ndatiOn
Tnstees. Annual Rewt | 31 D￿ernber 2023
Not•s to the a¢￿)Unts for the year ended 31st Decembor 2023
(11 Prfncipal Aceountiry Pollcles
The prlncipal accounting policies in the pYepwath)n of the fmnci81 statements are 8et out
below and have remaIr￿￿ unchanged from the preV1x￿ years
(a) Basi• of preparation
The charity constitutes a Publ￿ benefft entity 88 defin&1 ty FRS 102. The fina￿laTr ststements
have been wep8red in accordm with Accounting WKI Reporting by Chartties:
ststement of Re￿nrnerthd Practice applicable to charrties preporing their accounts in
accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland
{FRS 102) as updated ty Update Bulleb'n 2. and the ch￿ttl&S P£t 2011.
(bl Fund accounting
[1] Unrestricted funds are available tr u80 at the discret*)n of the trustees in furtherance of the
general objective8 of dwity.
lil1De￿gnafted funds unrestrithj fuThJs eam)arked by the Management Committee for
part￿ular purposes.
[iiil Restricted funds are 8ubJ'gAed to restrKl#M on their expendilure imposed ty t1￿ donor or
through the tems of on a￿1.
(c) Income
Income is induded in the Statement of financial acMie8 when the charty Is entitled to the income
and the amount can be quanttfi&J with r￿sOnth ac￿racY. The folknying 8p8Thfic pollcbs are
applied to partKular categm of income.
Ill Income received ty way of grants, donalions and glfts and is induded in full in the Statement of
FlnancSal ActNitth when receivable. Grants. vthere entitl8ment18 not cond6tlonal on the delivery of
a specfflc K￿y0mlanCe ty the (*wlty. are rwnlsed 1*h￿n the chty b8com88 unCOnd￿￿nallY
entrtled to the granL
li1] Donated 8erwce8 and fecilities are irKluded al Ihe value to the charlty th18 Can
quantif￿.
[1111 The value of provlded ty volunteers has not been inchthd in I1￿ accounts.
[N] In¥e8tment income is included when receivable.
[v]Incom8 from Charitab￿ trading are aca)unted for when e8med.
[vfjlncorne from grants, where rel*8d to perfumm and Spe￿￿ delver8ble8. are accounted for
as the charity earns the r*M to consmlerntkn by Its wfumarKe.
Id) Expondlturo
Expenditure is recogni8&1 on an 8cfflwI Iwi8 88 a tsbilty is #icurred. Exp*￿1tUrn includes any
VAT whKh cannot be fulty recov￿
[11 Co8t8 of generating furth compri8e the costs a68ocIth *itti attracting voluntwy income and
the cosls of trading for fundraisiNJ purposes.
1111 Charltsble expenditure comprises th08e costs H)curred ty the thwity In the delivery of it8
actNities and services for its beneficiaries. It ir￿lUdeS both costs that can be allocated dlrectty to
such actNilies arKJ those C(￿ of an I￿lirect nature n&xsw to SUPFK¥i them
lilli All costs are alkxated belb*en the eXpend[tu￿ categories of the SOFA on a basis deslgned to
reflect the use of the resource. Costs relating to 8 particular actsvity are altocated directty, others

kIUs￿lIty F¢￿ndat¥)ft
Trt￿lee6. Annual Report131 0ecemb&r 2023
(1) Principal Aeeounling PollcS08
(o} Flxod assats
Tangible fixed assets we ￿Itten off overlhe expected useful life of the asset. at
25% w annum on the reduclng balan￿ mdlKJd .
It￿$ costing over £500 are ￿pilalI$ed.
Property is written off over the expected useful life of the ass&. at 2% per
annum C￿ the straight line basi8
(2) Flxed Amets
Property
550,000
Additions in the year
Depreciation Ixought fopward
Depreciati￿ Ch￿ge for the y
5,500
Nel took value 88 at 3181 De(*mb8r 2023
Net book value as at 318t December 2022
The Old Church House was valued by Da¥*J Mwshall F.NAEA at £350,000 on 21 January
2022.
Parade Chambers C•ntreJ was ¥al￿d ty Mller Commercial Va￿￿ at £200.000 on 14
April 2022.
(3) D•btorn
2023
2022
SurKlry detrt(X8
(4) Crodltor•
Amounts falling within 12 month
SurKlry creditors
151 Employeo Inforniallon
Number of employees
(6) Tru•tw8 Infonnali

Mus￿￿1)1]ty FourM1ation
Tnth. knual Rewt131 December 2023
(n Movements in funds
Balance
Balanc8
31st. DeL Inc(￿e Exp￿drt. ure B*nce 31st. Dec
2022
Transfers
2023
Rostrfcted funds
A￿hitectUral Heritage
Frost Music Trust
23,220
(23,220)
Unmtrict•d fund•
General Fund
De8lgnated fvnd8
Total lund•
The Land & Buihjing De8ynat•J Fund was Croa￿ in 2023 and re￿8￿7t8 the Net Bcd( Value
of the woperty.
(7) Charftabh oxpondltyr•
Total
Total
2023
2022
AcquIs￿l0n costs
Cenlre buildiThJ and repoirs costs
Rented property bullding and repalr8 (x)sts
Centre uulty co8ts
Rented property utilly costs
Office costs
Trustees meeting refreshments
Insurance
Publicty
Miscellaneous
t)epreaation
Independent examinatwjn
Cleaning and laundry
Travel ￿$1$
Trainee teacher costs
Non capitalised equipment
Legal a￿1 professional
7,277
14,900
4,673
4,556
1,941
611
105
3,177
120
355
1,250
6.750
3,768
4.017
1,012
124
2,7
526
5.915
775
1,053
775

Musi4bilty Foundation
Tnffjtees. Annual Report | 31 Decemter 2023
18) Analysis of net assets boi*•en funds
General Destgnaed Restrfcted
Funds
Funds
Funds
Total
Fixed assets
559.336
559,336
35,022
41,022
Current liabilitEs