OpenCharities

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

2025-03-31-accounts

Company number 01557490 Charity number 290236

London Musicians' Collective Limited

FINANCIAL STATEMENTS

for the year ended

31 March 2025

LONDON MUSICIANS' COLLECTIVE LIMITED Year ended 31st March 2025 Legal and administrative information

Registered company number 1557490 (England and Wales)
Registered charity number 290236
Directors and Trustees: Ilan Aarons
John Appleby
Kuntal Biswas
Jennifer Holroyd
Gemma Kirk
Andrew Lowe
Aaron Vaughan-Dick
Nancy Perlman
Michael Hill
Maria Patterson
John Hobbs
Celine Rich-Darley
Company Secretary Peter Lanceley
Registered office 7 Risborough Street
London
SE1 0HF
Bankers The Co-operative Bank plc
80 Cornhill
London
EC3V 3NU
Independent Examiners Lindeyer Francis Ferguson Limited
Chartered Accountants
North House
198 High Street

LONDON MUSICIANS' COLLECTIVE LIMITED Year ended 31st March 2025 Contents

Page
Directors' report 1 - 5
Independent Examiner's report 6
Statement of financial activities 7
Balance sheet 8
Notes to the financial statements 9 - 17

LONDON MUSICIANS' COLLECTIVE LIMITED

Year ended 31st March 2025 Directors' Report

The Trustees, who are also directors of the charity for the purposes of the Companies Act, submit their annual report and financial statements for the year ended 31 March 2025. The Trustees confirm that the reported financial statements of the charity comply with the current statutory requirements, the requirements of the Charity’s governing documents, and the provisions of “Accounting and Reporting by Charities: Statement of Recommended Practice (SORP) applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)” effective 1 January 2019 (Charities SORP FRS 102).

The legal and administrative information forms part of this report.

Structure, governance and management

Governing document

London Musicians' Collective is a charitable company limited by guarantee. The company was established under a Memorandum of Association which established the objects and powers of the charitable company and is governed under its Articles of Association dated 22 July 2009.

The company is registered as a charity with the Charity Commission. In the event of the company being wound up members are required to contribute an amount not exceeding £1.

Recruitment and appointment of new trustees

The directors of the company are also charity trustees for the purposes of charity law and under the company's Articles are known as members of the Board of Directors. Under the requirements of the Memorandum and Articles of Association the members of the Board are elected to serve a period of three years, after which they must be reelected at the next Annual General Meeting. Elections take place at the AGM: recruits can be co-opted at an EGM, their status to be formally determined at the AGM.

Pertinent skills relating to the activities of the charity are well represented on the Board. When particular skills are lost or considered absent, individuals are approached to offer themselves for election to the Board.

Induction and training of new trustees

All current trustees are already familiar with the practical work of the charity. New trustees are invited first to attend a meeting with the Board members and executive before committing themselves to being recruited. The charity's literature and activities are such as to allow them to familiarise themselves with the charity and the context within which it operates. In an initial meeting with potential new directors, the Board covers:

Relevant and up to date Charity Commission publications are made available to new trustees, advising them of their legal responsibilities.

Page 1

LONDON MUSICIANS' COLLECTIVE LIMITED Year ended 31st March 2025 Directors' Report (continued)

Organisational structure

The Board comprises a minimum of 3 and a maximum of 12 members who meet quarterly and are responsible for the direction and policy of the charity. At present the board has 7 members from a variety of professional backgrounds relevant to the work of the charity. All Board members have voting rights.

Day to day responsibility for the provision of the services rests with the CEO Peter Lanceley, who is responsible for administrative and managerial matters including, prominently, the operational management of the radio station Resonance FM and Resonance EXTRA, including the supervision of its team of some 200 volunteers.

The trustees have acted on the new Charity Governance Code, refreshing the board of directors and instigating pastoral HR liaison between staff and trustees.

Objectives and aims

The main objective of the charity is to promote and advance the aesthetic education of the public, in particular but not without limitation, in the art of music and improvised music. The strategies employed to achieve the charity's objectives predominantly take the form of community radio broadcasts.

Public Benefit

In setting objectives and planning for activities, the Directors have given due consideration to general guidance published by the Charity Commission relating to public benefit. The charity provides benefits through broadcasts on its flagship Community Radio station, Resonance FM, and its experimental broadcast platform, Resonance Extra, advancing the understanding and practice of music, the arts and culture. It actively develops music, the arts and culture and artistic talent, encouraging skill sharing across a diverse user base. It focuses on social gain objectives comprising the provision of sound broadcasting services to individuals who are otherwise underserved. The educational community broadcast service is multicultural, transcending age barriers, and typically develops programmes for marginalised, disadvantaged persons and groups. The charity undertakes the provision of gratis education and training to diverse individuals in considerable numbers (its pool of regular users numbers several thousand, its audience base is about 1.5 million). Access to the charity's physical resources are geographically confined to central London but it has a national and even international presence that allows for widespread access. Access and participation are at the root of the charity's daily activities; and the facilitation of discussion and the expression of opinion are part of its Promise of Delivery to the licensing authority Ofcom. There is no evidence or indication of detriment or harm in relation to this charity's provision of benefits. The charity's aims are directed towards the general public. The charity seeks to reach as wide an audience as possible. The charity's activities comprise wide-ranging outputs tailored towards the needs of diverse elements of the community.

Financial Review

Financial result and principal funding sources

The financial results for the year are set out in the attached accounts. They show a surplus of £29,104 for the year (2024: deficit £24,537). The charity had reserves of £19,358 at 31 March 2025 (2024: deficit £9,746). Total expenditure during the year was £272,008 (2024: £285,258).

The charity's major funder is Arts Council England. Substantial sums were donated by individuals.

Page 2

LONDON MUSICIANS' COLLECTIVE LIMITED Year ended 31st March 2025 Directors' Report (continued)

Reserves policy

At 31 March 2025 the company held restricted reserves of £0 (2024: £0) and unrestricted free reserves (unrestricted reserves less fixed assets) of £14,954 (2024: deficit £11,005). The Board undertakes to maintain restricted reserves to cover any outstanding work on restricted projects. The Board aims to establish free reserves equating to 25% of the organisation's annual running costs within three years. Free reserves currently represent 2% of annual running costs.

Achievement and performance

During the year, among other activities we

Future developments

Looking ahead, the charity will focus on consolidating its new Southwark base while expanding the reach and inclusivity of its broadcast services.

Key priorities for 2025–26 include:

Digital and DAB Expansion: developing small-scale DAB platforms in London and regionally, and strengthening digital output to reach wider audiences nationally and internationally.

Creative Programming: Commissioning and supporting new work from emerging and underrepresented artists, continuing to provide a platform for experimental and socially engaged practices.

Page 3

Directors' Report (continued)

LONDON MUSICIANS' COLLECTIVE LIMITED

Year ended 31st March 2025

Community Engagement: Deepening partnerships with local organisations, schools, and community groups, offering training and participation opportunities that address social gain objectives.

Sustainability: Building financial resilience through further fundraising campaigns, partnerships, and audience development, with the aim of increasing free reserves towards the Board’s 25% target.

Environmental Responsibility: Continuing to embed ecological awareness into both programming and operations, drawing on our track record of environmental advocacy.

Volunteer Development: Enhancing training and support for our 200+ volunteers, ensuring long-term sustainability of the charity’s broadcast services.

Over the next three years the Trustees also aim to secure further capital investment in the studio facility, ensuring long-term stability of the organisation and its role as a hub for cultural broadcasting.

Directors and their interests

The following served as directors during the year ended 31 March 2025:

Ilan Aarons
John Appleby
Kuntal Biswas
Jennifer Holroyd
Gemma Kirk Appointed 20th January 2025
Jo Langton Resigned 17th October 2024
Andrew Lowe
Annabel Robinson Resigned 4th June 2025
Aaron Vaughan-Dick Appointed 5th March 2025
Nancy Perlman Appointed 3 September 2025
Michael Hill Appointed 3 September 2025
Maria Patterson Appointed 3 September 2025
John Hobbs Appointed 3 September 2025
Celine Rich-Darley Appointed 3 September 2025

The directors are the company's members and also the trustees for the purpose of charity law.

Statement of Directors' responsibilities

The Directors are responsible for preparing financial statements in accordance with applicable law and regulations.

Company law requires the Directors to prepare financial statements for each financial year. Under that law the Directors have elected to prepare financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the Directors 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 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 Directors are required to:

Page 4

LONDON MUSICIANS' COLLECTIVE LIMITED Year ended 31st March 2025 Directors' Report (continued)

The Directors are responsible for keeping adequate accounting records sufficient to show and explain the company’s transactions and that disclose with reasonable accuracy at any time the financial position of the 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 company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

This report has been prepared in accordance with the provisions applicable to small companies subject to the small companies’ regime in Part 15 of the Companies Act 2006.

Signed on behalf of the Board:

I Aarons- Trustee

Date 12 December 2025

Page 5

INDEPENDENT EXAMINER'S REPORT to the trustees of LONDON MUSICIANS' COLLECTIVE LIMITED

I report to the charity trustees on my examination of the accounts of London Musicians’ Collective Limited (the Company) for the year ended 31 March 2025.

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 charity’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

Since the company's gross income exceeded £250,000 your examiner must be a member of a body listed under section 145 of the 2011 Act. I can confirm that I am qualified to undertake the examination because I am a member of the Institute of Chartered Accountants in England and Wales, which is one of the listed bodies.

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

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.

Date: 16 December 2025

Samantha Wells FCA, CTA Lindeyer Francis Ferguson Limited

North House 198 High Street Tonbridge Kent TN9 1BE

Page 6

LONDON MUSICIANS' COLLECTIVE LIMITED

Year ended 31st March 2025 Statement of Financial Activities (incorporating an income and expenditure account)

Note
Unrestricted
Funds
£
Income from
Donations and legacies
2
194,332
Other trading activities:
Fundraising
3
25,869
Investment income
4
1
Charitable activities
5
Resonance FM
62,854
Total income
283,056
Expenditure on
Raising funds
6
48,340
Charitable activities
7
Resonance FM
138,701
Projects
66,911
Total expenditure
253,952
Net income / (expenditure)
29,104
Reconciliation of funds:
Total funds brought forward
(9,746)
Total funds carried forward
15
19,358		 Restricted
Funds
£
18,056
-
-
-
18,056
-
18,056
-
18,056
-
-
-		 TOTAL
2025
£
212,388
25,869
1
62,854
301,112
48,340
156,757
66,911
272,008
29,104
(9,746)
19,358		 TOTAL
2024
£
222,868
18,704
50
19,099
260,721
47,138
191,109
47,011
285,258
(24,537)
14,791
(9,746)

Page 7

LONDON MUSICIANS' COLLECTIVE LIMITED Year ended 31st March 2025 Balance Sheet

Notes
Fixed assets
Tangible assets
12
Current assets
Stock
Debtors: amounts falling
due within one year
Cash at bank and in hand
Creditors- amounts falling
14
due within one year
Net current assets
Total assets less current liabilities
Debtors: amounts falling due after one year
Net assets
Funds
15,16
Unrestricted funds
Total funds		 £
£
4,404
2,185
17,445
15,011
34,641
(19,687)
14,953
19,358
-
19,358
19,358
19,358
2025		 2024 2024
£
2,185
17,445
15,011
34,641
(19,687)		 £
1,139
34,896
28,413
64,448
(75,453)		 £
1,259
(11,005)
(9,746)
-
(9,746)
(9,746)
(9,746)

The directors are satisfied that the company was entitled to exemption from audit under section 477 of the Companies Act 2006 and that members have not required an audit in accordance with section 476.

The directors acknowledge their responsibilities for:

The financial statements have been prepared in accordance with the provisions applicable to small companies within Part 15 of the Companies Act 2006.

The financial statements were approved by the Board of Trustees on 3 December 2025 and signed on its behalf by:

I Aarons - Trustee Company registration no: 1557490

K Biswas - Trustee

Page 8

LONDON MUSICIANS' COLLECTIVE LIMITED

Year ended 31st March 2025 Notes to the financial statements

1 Accounting policies

1.1 General Information

London Musicians’ Collective (LMC) is a charitable company limited by guarantee and incorporated in England and Wales (charity number 290236, registered company number 1557490). In the event of the company being wound up, the liability in respect of the guarantee is limited to £1 per member of the charity. The address of the registered office is 7 Risborough Street, London SE1 0HF.

LMC meets the definition of a public benefit entity under FRS 102 and its principal objective is to promote and advance the aesthetic education of the public, in particular but not without limitation, in the art of music and improvised music.

1.2 Basis of preparation

The financial statements have been prepared in accordance with “Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)” (effective 1 January 2019) – (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.

Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the accounting policy note(s).

Going Concern -The Trustees have considered the charity’s financial position, forecast income and expenditure, and confirmed funding commitments for at least twelve months from the date of approving these financial statements.

The charity’s reserves remain modest at £19,358 (approximately 2% of annual expenditure). This follows a planned reduction in reserves undertaken to deliver a strategic restructure during 2024-25, enabling a leaner staffing model designed to increase income generation and long-term sustainability. This restructure has already contributed to a return to surplus in the current year.

The Trustees note that Arts Council England has indicated that National Portfolio Organisation (NPO) funding will roll over until at least 31 March 2028, with precise amounts to be confirmed, ahead of a possible new multi-year round of funding. In addition, the charity is pursuing further core and project funding opportunities, and will continue to diversify income through partnerships and earned income from its new Southwark studios.

Fundraising activity during 2025 was the most successful in several years, and a similar ambitious programme is planned for 2026. The completion of the new community radio studios in SE1 has also opened the potential for significant new income streams, including venue hire, training, and collaborative projects. The Trustees have implemented robust cost-control measures and actively monitor cash flow and reserves. Taking these factors together, the Trustees are confident that the charity has adequate resources to meet its obligations as they fall due and to continue operating for the foreseeable future.

Accordingly, the financial statements are prepared on a going-concern basis.

The accounts are presented in pounds sterling and rounded to the nearest pound.

Page 9

LONDON MUSICIANS' COLLECTIVE LIMITED Year ended 31st March 2025 Notes to the financial statements (continued)

1.3 Income and deferred income

All incoming resources are included in the statement of financial activities when the charity is legally entitled to the income and the amount can be quantified with reasonable accuracy.

Income from donations and grants is recognised when the charity is entitled to the funds, the receipt is probable and the amount can be measured reliably. For donations, this is usually on receipt. For grants, this is usually when a formal offer is made in writing unless the grant contains terms and conditions outside of the charity’s control which must be met before the charity is entitled to the funds.

Incoming resources from grants, where related to specific performances and specific deliverables, are accounted for as the charity earns the right to consideration by its performance.

No amounts are included in the financial statements for services donated by volunteers.

Legacies are recognised on a receivable basis, once the conditions for the receipt have been satisfied and the amount can be measured with certainty.

Other incoming resources, including investment income and subscription fees are included when receivable.

Income received in advance of the provision of services is deferred on a time basis until such times as the services have been performed.

1.4 Expenditure

Liabilities, and related expenditure, are recognised when a present legal or constructive obligation exists at the balance sheet date as a result of a past event, it is probable that a transfer of economic benefits will be required to settle the obligation, and the amount can be measured or estimated reliably.

All expenditure is accounted for on an accruals basis and has been classified under expense categories that aggregate costs for allocation to an activity. Expenditure includes any VAT which cannot be fully recovered, and is reported as part of the expenditure to which it relates.

Charitable expenditure includes those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them, including governance costs. Governance costs include those costs associated with meeting the constitutional and statutory requirements of the charity and include the independent examination fees and costs linked to the strategic management of the charity.

1.5 Allocation of costs

Costs of a direct nature have been grouped and allocated directly to the activities to which they relate.

Staff costs have been allocated to activities based on an estimate of the time spent by staff on each activity.

Costs of an indirect nature that are necessary to support the charity’s activities are grouped into their functional headings. Each group is then apportioned to the various activities based on the same percentage as staff time on each activity, as this gives a reasonable basis reflecting the usage of each activity.

Page 10

LONDON MUSICIANS' COLLECTIVE LIMITED Year ended 31st March 2025 Notes to the financial statements (continued)

1.6 Tangible fixed assets

Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated realisable value of each asset over its expected useful life, as follows:

Fixtures and fittings 25% straight line

1.7 Financial instruments

The company only has financial instruments which are classified as basic financial instruments. Short term debtors and creditors are measured at the settlement value. Any losses from impairment are recognised in the Statement of Financial Activities.

1.8 Operating leases

Rentals payable under operating leases are recognised in the statement of financial activities on a straight line basis over the lease term.

1.9 Taxation

The charity is exempt from corporation tax on its charitable activities.

1.10 Fund accounting

Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.

Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.

Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.

2
Donations and legacies
2025
Unrestricted
£
Gifts and donations
29,606
Grants
164,726
Total donations and legacies
194,332
Grants received, included in the above, are as follows:
Arts Council of England
163,226
OfCom Community Radio Fund
-
Raymond Williams Foundation
1,500
164,726		 2025
Restricted
£
-
18,056
18,056
-
18,056
-
18,056		 2025
Total
£
29,606
182,782
212,388
163,226
18,056
1,500
182,782		 2024
Total
£
59,642
163,226
222,868
163,226
-
-
163,226

In the prior period restricted funds of £0 were received.

Page 11

LONDON MUSICIANS' COLLECTIVE LIMITED Year ended 31st March 2025 Notes to the financial statements (continued)

3
Fundraising
2025
Unrestricted
£
Box office income and concert fees
20,730
Merchandise
5,139
25,869
4
Investment income
Bank interest
1
5
Income from charitable activities
2025
Unrestricted
Activity
£
Radio station income
Resonance FM
62,854
62,854
There was no restricted income from charitable activities in the
6
Raising funds
2025
2025
Staff Costs
Direct Costs
£
£
28,474
3,627		 2025
2025
Restricted
Total
£
£
-
20,730
-
5,139
-
25,869
-
1
2025
2025
Restricted
Total
£
£
-
62,854
-
62,854
comparative period.
2025
2025
Support Costs
Total
£
£
16,239
48,340		 2024
Total
£
17,611
1,093
18,704
50
2024
Total
£
19,099
19,099
2024
Total
£
47,138

Page 12

LONDON MUSICIANS' COLLECTIVE LIMITED Year ended 31st March 2025 Notes to the financial statements (continued)

7
Charitable activities
2025
2025
Staff Costs
Direct Costs
£
£
Resonance FM
75,229
38,619
Projects
22,656
31,332
97,885
69,951
Unrestricted
£
Raising funds
48,340
Costs of charitable activities:
Resonance FM
138,701
Projects
66,911
205,611
Total expenditure
253,952
In 2024 charitable expenditure of £0 was from restricted funds.
8
Analysis of support costs
2025
2025
Premises
Financial
costs
& legal
£
£
Raising funds
11,472
2,846
Charitable activities:
Resonance FM
30,310
7,521
Projects
9,128
2,265
39,439
9,786		 2025
Support Costs
£
42,910
12,922
55,832
Restricted
£
-
18,056
-
18,056
18,056
2025
Office
admin
£
1,922
5,078
1,529
6,607		 2025
Total
£
156,757
66,911
223,668
2025
Total
£
48,340
156,757
66,911
223,667
272,008
2025
Total
£
16,239
42,910
12,922
55,832		 2024
Total
£
191,109
47,011
238,120
2024
Total
£
47,138
191,109
47,011
238,120
285,258
2024
Total
£
7,608
28,144
6,400
34,544

Financial and legal costs include £1,600 (2024: £1,600) of governance costs.

Page 13

LONDON MUSICIANS' COLLECTIVE LIMITED

Year ended 31st March 2025 Notes to the financial statements (continued)

9
Net income / (expenditure)
Net income / (expenditure) is stated after charging / (crediting):
Fees paid to Independent Examiner
Examination fee
Payroll and other fees
Operating leases
Depreciation - owned assets		 2025
£
2,000
520
47,039
2,561		 2024
£
2,500
500
20,506
1,132

10 Trustees' remuneration and benefits

None of the trustees received any remuneration or benefits for the year ended 31st March 2025, nor for the year ended 31st March 2024.

Trustees' expenses

None of the trustees received payment for any expenses for the year ended 31st March 2025, nor for the year ended 31st March 2024.

11 Staff costs
Salaries
Social security costs
Pension costs
Freelance fees		 2025
£
110,318
5,834
3,307
6,900
126,359		 2024
£
164,138
9,392
4,200
6,900
184,630

11 Staff costs (continued)

One member of staff earned over £60,000 for the financial year (2024 - one).

The average weekly number of employees during the year was as follows:
Management
Production
Engineers		 2025
0.7
0.7
0.6
2.0		 2024
1.0
1.0
1.0
3.0

Page 14

LONDON MUSICIANS' COLLECTIVE LIMITED Year ended 31st March 2025 Notes to the financial statements (continued)

12 Tangible fixed assets
Cost
At 1st April 2024
Additions
Disposals
At 31st March 2025
Depreciation
At 1st April 2024
On disposals
Charge for the year
At 31st March 2025
Net book value
At 31st March 2025
At 31st March 2024
13 Debtors
Amounts falling due within one year
Trade debtors
Other debtors
Prepayments
Accrued income		 Fixtures and
Fittings
£
35,247
5,706
(7,785)
33,168
33,988
(7,785)
2,561
28,764
4,404
1,259
2025
£
-
2,500
1,618
13,327
17,445		 2024
£
18,174
2,500
3,746
10,476
34,896

Page 15

LONDON MUSICIANS' COLLECTIVE LIMITED Year ended 31st March 2025

Notes to the financial statements (continued)

14 Creditors: amounts falling due within one year

reditors: amounts falling due within one year
Trade creditors
Social security and other taxes
Accrued expenses
Deferred income		 2025
£
681
2,053
16,953
-
19,687		 2024
£
5,700
2,545
8,345
58,863
75,453

Deferred income

Where terms or conditions have not been met or uncertainty exists as to whether they can be met then the relevant income is not recognised in the year but deferred and shown on the balance sheet as deferred income.

Income deferred from the previous period
Released to the statement of financial activities
Arising during the current year:
Grant - Arts Council England
Grant - OfCom
15 Movement in funds - Current Year
1 Apr
Incoming
2024
resources
£
£
Unrestricted Funds
General fund
(9,746)
283,056
Restricted Funds
-
18,056
Total funds
(9,746)
301,112
16 Movement in funds - Prior Year
1 Apr
Incoming
2023
resources
£
£
Unrestricted Funds
General fund
14,791
260,721
Restricted Funds
-
-
Total funds
14,791
260,721
Page 16		 Resources
expended
£
(253,952)
(18,056)
(272,008)
Resources
expended
£
(285,258)
-
(285,258)		 58,863
(58,863)
-
-
-
Net
movement
in funds
£
29,104
-
29,104
Net
movement
in funds
£
(24,538)
-
(24,538)		 -
-
40,807
18,056
58,863
31 Mar
2025
£
19,358
-
19,358
31 Mar
2024
£
(9,746)
-
(9,746)

LONDON MUSICIANS' COLLECTIVE LIMITED Year ended 31st March 2025 Notes to the financial statements (continued)

17 Analysis of net assets between funds

2025
Unrestricted
funds
£
Tangible fixed assets
4,404
Net current assets
14,954
19,358		 2025
Restricted
funds
£
-
-
-		 2025
Total
funds
£
4,404
14,954
19,358		 2024
Total
funds
£
1,259
(11,005)
(9,746)

Restricted funds of £0 in 2024 were analysed as current assets.

18 Revenue commitments

At 31 March, the company had annual commitments under non-cancellable operating leases as follows:

Due:
Within 1 year
Between 2 and 5 years
Total		 2025
£
36,000
78,000
114,000
Land and
buildings		 2024
£
5,000
-
Land and
buildings
**5,000 **

19 Related party disclosure

The key management of the charity include the Directors and the Chief Operating Officer. The aggregate amount of employee benefits payable for key management was £89,462 (2024: £124,863, including the Chief Executive Officer).

There have been no other related party transactions in the year (2024: none).

Page 17