## **METAL FOR GOOD FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 OCTOBER 2023** Charity Number: 1201152 ## **METAL FOR GOOD FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 OCTOBER 2023** ## **TRUSTEES** Hugh Evans (appointed 29 September 2022) Richard Eric Blaxill (appointed 10 April 2024) Keshini Mauree-Bain (appointed 27 March 2024) Jake Tullett (appointed 27 March 2024) Nadine Sandra Croney (appointed 27 March 2024) Neil Cossey (appointed 29 September 2022) Lisa Bardsley (appointed 29 September 2022) Nicola Skipwith (appointed 29 September 2022) Neil Turnham (appointed 29 September 2022) ## **REGISTERED OFFICE** 58 Platts Crescent Stourbridge DY8 3YU ## **CHARITY NUMBER** 1201152 ## **INDEPENDENT EXAMINER** Adding Value Consultancy Ltd Studio 6 Bluecoat Chambers Liverpool L1 3BX 2 | Page ## **METAL FOR GOOD ACCOUNTS** ## **FOR THE PERIOD ENDED 31 OCTOBER 2023** |**CONTENTS**|**Page**| |---|---| |Report of the Trustees|4-7| |Independent Examiner's Statement|8| |Statement of Financial Activities|9| |Balance Sheet
|10| |Notes to the Accounts|11-12| 3 | Page ## **METAL FOR GOOD FOR THE PERIOD ENDED 31 OCTOBER 2023 TRUSTEES' REPORT** The trustees present their report and accounts for the period ending 31 October 2023. ## **PRINCIPAL ACTIVITIES** The principal activity of Metal For Good is to provide charitable grants to formal groups, charities and other non-profit organisations who deliver projects and services that use music-related activities for social benefit. Projects should also reflect the values of the rock and metal community (defined as togetherness, individuality, passion, integrity and belonging) for positive social change. ## **LEGAL STATUS** Metal for Good is an unincorporated charity, established by Trust Deed. The governing document of the charity is the Trust Deed establishing the charity. There are no restrictions in the governing documents on the operation of the Charity or on its investment powers other than those imposed by Charity Law. The trustees are all individuals. ## **OBJECTIVES AND ACTIVITIES** Metal For Good uses the positive values of rock, metal and other alternative subcultures to make a positive difference in communities. We provide grants to incredible community groups and organisations who use music to change lives. We partner with musicians, industry partners, promoters, and individuals to raise funding to support community projects and innovative ideas. We also generate income using the profits from our Metal For Good merchandise. We believe that the rock and metal community is truly unique – we’re brought together through a love of great music and a sense of belonging. Through this shared identity, lives are often improved; we feel a part of something bigger, that we are accepted, and that someone has ultimately ‘got our back’. Metal For Good meets these objectives by providing charitable grants to formal groups, charities and other non-profit organisations who deliver projects and services that use music-related activities for social benefit. Projects should also reflect the values of the rock and metal community (defined as togetherness, individuality, passion, integrity and belonging) for positive social change. ## **PUBLIC BENEFIT** The activities of Metal for Good are reviewed annually to ensure that they reflect its objectives and aims and they advance public benefit. 4 | Page ## **METAL FOR GOOD FOR THE PERIOD ENDED 31 OCTOBER 2023** ## **TRUSTEES' REPORT** ## **ORGANISATION OF THE CHARITY** The charity has a board of trustees who oversee the general management and control of the company. In setting policies, the trustees have complied with their duty in section 15 of the Charities Act 2011 to have due regard to public benefit guidance published by the Charity Commission. The board meets roughly 5 times per year to discuss and oversee the charity's financial, artistic and administrative activities. There are presently sub-committees for finance and development, which meet when necessary and report back to the main board. The day-to-day operations management is carried out by Katy Baker and Christopher Baker, supported by the members of the board in a voluntary capacity. ## **TRUSTEES** The names of the present trustees -and of all who held office during the year and up to the date of signing the Financial Statements are shown on Page 2 of these financial statements. No remuneration was paid to any trustee for their services as a trustee, nor did any trustee have a material interest in any of the charity's contracts. ## **INDUCTION AND TRAINING OF TRUSTEES** Trustees are selected based upon their professional skills to complement those of the existing trustees or replace those of retiring trustees. Current trustees bring their skills and experience from a wide range of professions. All are committed to or experienced in the arts and cultural sector. Board induction involves attending a trustees' interview prior to appointment, meeting the trustees and receiving copies of policies, business plans and accounts. Training needs are continually assessed and implemented as required. ## **CONTRIBUTION OF VOLUNTEERS** The charity is supported by highly experienced and dedicated volunteer Board members. Additionally, the charity is supported by a team of volunteers at events and festivals that it attends. ## **REVIEW OF THE ACHIEVEMENTS AND PERFORMANCE FOR THE YEAR** The trustees are very pleased with the progress made during the initial period of activity and the presence of the charity at a number of events (The Guitar Show, Primordial General Mayhem, Bloodstock Festival, ArcTanGent Festival & 2000trees festival) and fundraising events, such as Metal Merch Day, which seek to both raise funds and raise the profile of the Charity. **METAL FOR GOOD FOR THE PERIOD ENDED 31 OCTOBER 2023** 5 | Page ## **TRUSTEES' REPORT** During its initial period, the charity has been successful in fundraising and the Trustees were able to make three grants to the following projects: The Music Works (£2,000), Heavy Metal Therapy (£1,000) and Stay Up Late (£2,000). The Music Works is a Gloucestershire-based charity that uses music as a transformative tool to empower young people facing marginalisation, disadvantage, or disability. Heavy Metal Therapy works with the heavy metal community to promote and support positive mental health. They support the music community by attending music/mental health events in a resource-sharing and welfare capacity, via their website, and social media pages. Stay Up Late is a grassroots charity that enables adults with learning disabilities and autistic people to lead active social lives, and to make decisions about how they want to live their lives. They believe that all people with learning disabilities and autistic people are able to lead full and active social lives and enjoy the many, well-publicised benefits of having meaningful social interactions. ## **FUTURE PLANS** The Trustees wish to build upon the excellent first year and consolidate the presence of the Charity at events and expand its own fundraising events to allow more and larger grants to be made to the projects which it supports. ## **RISK ASSESSMENT** The charity confirms that the Board regularly review the major risks faced by the charity to ensure that procedures and controls established by the organisation are designed to mitigate those risks. The risk of shortfalls of funding and other income has been given serious consideration. Projects are only undertaken if financially viable. ## **FINANCIAL REVIEW** The year ended 31[st] October 2023 saw incoming resources of £26,792. Total outgoing resources were £16,487 giving rise to net incoming resources of £10,305. Total fund balances were £10,305. 6 | Page ## **METAL FOR GOOD FOR THE PERIOD ENDED 31 OCTOBER 2023 TRUSTEES' REPORT** ## **TRUSTEES RESPONSIBILITIES IN RELATION TO THE FINANCIAL STATEMENTS** The trustees are responsible for preparing the Trustees' Report and the financial statements in accordance with applicable law and regulations. Company law requires the trustees to prepare financial statements in accordance with the United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charity and of the net incoming or outgoing resources of the charity for that period. ln preparing these financial statements the trustees are required to: - select suitable accounting policies and they apply them consistently, - observe the methods and principles of the Charities Statement of Recommended Practices (SORP) - make judgements and estimates that are reasonable and prudent, - state whether applicable UK accounting standards have been followed subject to any material departures disclosed and explained in the financial statements, - prepare the financial statements on the going concern basis, unless it is inappropriate to presume that the charity will continue in business. The trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charity's transactions and disclose -with reasonable accuracy, at any time- the financial position of the charity, enabling them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charity and hence for taking responsible steps for the prevention and detection of fraud and other irregularities. ## **APPROVAL** The report was prepared in accordance with the special provisions within Part 15 of the Companies Act 2006. This report was approved by the Board of Trustees on 6th June 2024. Chair Of Trustees Hugh Evans Date: 6th June 2024 7 | Page ## **METAL FOR GOOD INDEPENDENT EXAMINER'S STATEMENT FOR THE PERIOD ENDED 31 OCTOBER 2023** ## **INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF METAL FOR GOOD** I report to the trustees on our examination of the accounts for the period ended 31 October 2023. ## **Responsibilities and basis of report** As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the _Charities Act_ 2011 (‘the Act’). I report in respect of my examination of the Trust’s accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the _Charity Commission_ under section 145(5)(b) of the Act. ## **Independent examiner’s statement** I have completed my examination. I confirm that no material 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 Trust as required by section 130 of the Act; or 2. the accounts do not accord with those records; or 3. the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the _Charities (Accounts and Reports) Regulations_ 2008 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. 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. Matthew Brown, CPFA Adding Value Consultancy Ltd Accountants and Financial Management Consultants Date: 6th June 2024 8 | Page ## **METAL FOR GOOD STATEMENT OF FINANCIAL ACTIVITIES FOR THE PERIOD 26 JULY 2022 TO 31 OCTOBER 2023** 9 | Page ## **METAL FOR GOOD BALANCE SHEET AS AT 31 OCTOBER 2023** Approved by the board of trustees on 6th June 2024 and signed on their behalf by Chair Of Trustees Hugh Evans Date: 6th June 2024 10 | Page ## **METAL FOR GOOD NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 OCTOBER 2023** ## **1. ACCOUNTING POLICIES** ## **Basis of Accounting** The accounts have been prepared under the historical cost convention. The accounts have been prepared in accordance with FRS102 - The _Financial Reporting Standard_ applicable in the UK and Republic of Ireland and the requirements of the _Statement of Recommended Practice, Accounting and Reporting by Charities_ . ## **lncome** Income is recognised on entitlement, when it is probable, and it can be measured reliably. ## **Expenditure** Expenditure is included in the Statement of Financial Activities on an accruals basis. ## **Fund Accounting** Funds held by the charity are unrestricted general funds which can be used in accordance with the charitable objects at the discretion of the trustees. There are no designated funds. There are no restricted funds. There are no endowment funds. ## **2. TRUSTEES REMUNERATION** No remuneration or benefit was paid to any trustee for their services as a trustee. No trustee expenses were incurred. There were no related party transactions. There were no staff costs. ## **3. INCOME: DONATIONS AND LEGACIES** ## **4. INCOME: CHARITABLE ACTIVITIES** 11 | Page ## **5. EXPENDITURE: CHARITABLE ACTIVITIES** ## **6. EXPENDITURE: OTHER COSTS** ## **7. CREDITORS** Amounts falling due within one year: 12 | Page