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2021-03-31-accounts

Company number: 2062208 Charity number: 295613

The Grand Union Music Theatre Limited

(A Charity Company Limited by Guarantee, company number 2062208)

Financial Statements and Trustees' Report for the year ended 31 March 2021

(A Charity Company Limited by Guarantee, company number 2062208)

Index to the Financial Statements for the year ended 31 March 2021

AT The Grand Union Music Theatre Limited

Page
Index to the Financial Statements 2
Charitable company Information 3
Trustees' Report 4 - 6
Statement of Trustees' Responsibilities 7
Independent Examiner's Report 8
Statement of Financial Activities 9
Statement of Financial Position 10
Statement of Cash Flows 11
Accounting Policies 12 - 13
Notes to the Accounts 14 - 17

Page 2

(A Charity Company Limited by Guarantee, company number 2062208)

AT The Grand Union Music Theatre Limited

Charitable company Information for the year ended 31 March 2021

Status: The Grand Union Music Theatre Limited is a company limited by guarantee and a
registered charity governed by its memorandum and articles of association. The directors
of the company are its trustees for the purposes of charity law and throughout this report
are collectively referred to as the trustees.
Charity name: The Grand Union Music Theatre Limited
Other operating names: Grand Union
Grand Union Band
Grand Union Orchestra
Company registration number: 2062208
(England & Wales)
Charity registration number: 295613
Registered office: 15B St Margaret's House
21 Old Ford Road
London E2 9PL
Operations address: 15B St Margaret's House
21 Old Ford Road
London E2 9PL
Trustees who held office Antonia Benedek
during the year: Habib Rahman
Sayara Beg
Adam Sutcliffe
Chairperson: Antonia Benedek
Secretary: Tony Haynes
Independent Examiner: Anthony Armstrong FCA
Armstrong & Co
Chartered Accountants & Statutory Auditor
4a Printing House Yard
Hackney Road
London E2 7PR
Solicitors: Townleys Solicitors
Dalby House
396-398 City Road
London EC1V 2QA
Bankers: Natwest Bank Plc
134 Aldersgate Street
London EC1A 4LD

Page 3

(A Charity Company Limited by Guarantee, company number 2062208)

AT The Grand Union Music Theatre Limited

Trustees' Report, incorporating the Directors' Report for the year ended 31 March 2021

The Board of Trustees (who are also directors of the charity for the purposes of the Companies Act) submits their annual report and audited financial statement for the year ended 31 March 2021.

The Trustees confirm that the Annual Report and Financial Statements of the charity comply with current statutory requirements, the requirements of the charity's governing document and the provisions of the Statement of Recommended Practice (Charities SORP FRS102) "Accounting and Reporting by Charities" issued in 2014.

Trustees induction and ongoing training

Financial Reports and Management Accounts. They are invited to meet with the Chair, Treasurer and Senior Management Team for a briefing on the organisation and the responsibilities of the trustees. The Chair or their representative then writes formally to invite the interested party to become a trustee of the company.

Organisation

The board of trustees meets quarterly, administers the charity, and includes representatives from and experts in; finance, law, media, theatre, charity management, music service provision and business management. An Artistic Director is asked by the board of trustees to oversee the day-to-day operation of the charity.

To facilitate effective day-to-day operations of the charity the artistic director delegates responsibility for operational matters including finance, employment, artistic management and the education programme, to a management team which is assisted by a team of consultants and freelance practitioners. A large team of musicians run and co-ordinate individual projects.

Core Staff 2020-21

Tony Haynes, Composer / Creative Director Jane Deppa, General Administrator Nadio Nervo, Visual Consultant Richard Mallett, Project Development Director Tom Lancaster, Communications, IT and multimedia Gabriel May, Recorded Material development Joanna Cole, PR & Marketing Enid Conway, social media

Risk

The trustees have assessed the major risks to which the charity is exposed, in particular those related to the operations and finances of the company and are satisfied that systems are in place to mitigate their exposure to the major risks.

Charitable Activities

Mission

Grand Union aims to communicate and share the enjoyment of creating and performing music which reflects and expresses the aspirations of our multicultural society by:

Current Objectives

Page 4

(A Charity Company Limited by Guarantee, company number 2062208)

AT The Grand Union Music Theatre Limited

Trustees' Report, incorporating the Directors' Report

for the year ended 31 March 2021

Education Projects

While live performance has not been possible since March 2020, just before lockdown began, a team of Grand Union musicians toured schools in the Cambridge area giving interactive concerts and workshops. They included Shanti Jayasinha (Sri

The live streamed presentation at the end of the week paved the way for work to come which included streaming workshops and performances to continue in sharing a wide range of music and techniques from around the world. During this time we also launched a new Library Channel on YouTube, as an online resource for professional or educational use.

Sounding Bethnal Green

Curated by Claude Deppa (South Africa) trumpet. A core band produced a series of Friday evening events for Black History Month in October at St John at Bethnal Green, our base for community projects. We were pleased to have a live element and an invited audience as well as streamed events to highlight the cultures in our local neighbourhood such as China/Southwest Asia, South Asia, East Europe/Balkans, Somalia.

Re:Generation Project

by Joshua Brandler, they worked on their own material, made a recording and held jam sessions, performances and open workshops at Poplar Union. They created an audio piece and animated film influenced by stories and music from local Bengali

Work with Bengali Community

In March 2021 we produced a remarkable film, Honouring Mujib - a major achievement and a completely new departure for the Company which launched a programme commemorating the 50th anniversary of the Bangladesh Declaration of Independence. This film will continue to be promoted as the Mujib Year extends for another year.

Youth Orchestra

The Company continued its radical work with young musicians, including regular masterclasses for the Youth Orchestra and livestreamed open workshops. We were also able to offer one-to-one sessions with Grand Union professional tutors expert in the music of China, South Asia, Eastern Europe and West Africa.

Other lockdown projects

interest in Tower Hamlets via a QR code that takes the listener to Grand Union music featuring venues and diverse participants from the Borough.

We also produced Lockdown Live sessions weekly including Caribbean songs with Josh Brandler, an introduction to Chinese Flutes by Ruijun Hu, Anatolian music by Gunes Cerit and a Latin American workshop with Andres Lafone. We were also pleased to be able to include contributions from Re:Generation Band members.

We created a comprehensive discography of the Orchestra's recorded material, which (including published CDs, and individual tracks) can now be accessed on Bandcamp.

Future Plans

We plan to promote Grand Union All-Stars - a group of authentic virtuoso artists especially for festivals and outdoor performances. Wednesdays and Car Free Day outside the Bank of England. The group including Louise Elliott (Australia) flute/tenor saxophone, Zhu Xiao Meng (China), gu zheng (Chinese harp), Yousuf Ali Khan (Bangladesh), tabla/voice, and Abass Dodoo (Ghana) African percussion, brings rhythms and songs from around the world.

We very much look forward to returning to our free GUYO sessions at Rich Mix for young musicians aged 12-26 who play a huge range of instruments. We will be looking for performance opportunities for them as soon as conditions allow.

With thanks to our funders

We would like express our gratitude to our funders and supporters over the last year.

We received emergency support from London Community Response Fund (£15,000), Charities Aid Foundation (£19,999), and the Arts Council Emergency Fund (£25,074).

The Arts Council also support our project work with final instalments for Re:Generation (£1,396), Freedom and Independence (£2,786), and new projects Reconcile Reimagine (£13,340) and Liberation Paths (£13,416).

Page 5

(A Charity Company Limited by Guarantee, company number 2062208)

AT The Grand Union Music Theatre Limited

Trustees' Report, incorporating the Directors' Report

for the year ended 31 March 2021

Our work with local communities and young musicians was supported by Garfield Weston (£6,000), John Lewis (£5,000), the Chapman Trust (£1,000) the Worshipful Company of Card Makers (£2,000), the Worshipful Company of Chartered Secretaries and Administrators (£2,000), Reverberate (£2,000).

Some projects were inevitably delayed but we secured funding from Foundation for Future London (£1,400) for work with Headway East London, Shoreditch and Hoxton Art Fund (£5,000) for a community orchestra, Near Neighbour (£3,000) for work with local communities, LB Tower Hamlets (£4,500) for local events in the Borough, and funds from the Cockayne Foundation (£5,000) are being repurposed for a performance commemorating the Independence of Bangladesh in December 2021.

Results for the year

The results of the period and financial position of the charity are shown in the annexed financial statements.

The Statement of Financial Activities shows an increase in funds for the year of £49,917, and reserves of £60,449.

Tangible fixed assets for use by the charity.

Fixed assets are set out in Note 8 to the accounts.

Independent Examiner

The Independent Examiner, Anthony Armstrong FCA of Armstrong & Co, has indicated his willingness to be proposed for reappointment.

This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the Board of Trustees on 9 December 2021 and signed on its behalf by:

Antonia Benedek, Trustee

Page 6

(A Charity Company Limited by Guarantee, company number 2062208)

AT The Grand Union Music Theatre Limited

Statement of Trustees' Responsibilities for the year ended 31 March 2021

The trustees (who are the directors of The Grand Union Music Theatre Limited for the purpose 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 its incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing these financial statements, the trustees are required to:

The trustees are responsible for keeping adequate accounting records which 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 and charity legislation. 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.

Page 7

(A Charity Company Limited by Guarantee, company number 2062208)

AT The Grand Union Music Theatre Limited

Independent Examiner's Report to the Trustees of The Grand Union Music Theatre Limited

I report on the accounts of The Grand Union Music Theatre Limited for the period from 1 April 2020 to 31 March 2021, which are set out on pages 9 to 17.

This report is made solely to the trustees as a body in accordance with section 145 of the Charities Act 2011 (the Charities Act) and regulations made under section 154 of that Act. My examination has been undertaken so that I might state to the trustees those matters I am required to state to them in an independent examiner's report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the company and the trustees as a body, for my examination, for this report, or for the opinions I have formed.

Respective responsibilities of trustees and examiner

As described on page 7, the trustees (who are also the directors of the company for the purposes of company law) are responsible for the preparation of the accounts. The charity's trustees consider that an audit is not required for this year under section 144 of the the Charities Act and that an independent examination is needed.

Having satisfied myself that the charity is not subject to audit under company law and is eligible for independent examination, it is my responsibility to:

Basis of independent examiner's statement

My examination was carried out in accordance with the general Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from the trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts present a 'true and fair view' and the report is limited to those matters set out in the statement below.

Independent examiner's statement

In connection with my examination, no matter has come to my attention which gives me cause to believe that in, any material respect:

I 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.

Anthony Armstrong FCA, Independent Examiner

of Armstrong & Co Chartered Accountants & Statutory Auditor

4a Printing House Yard Hackney Road London E2 7PR

Dated: 9 December 2021

Page 8

FS The Grand Union Music Theatre Limited

(A Charity Company Limited by Guarantee, company number 2062208)

Statement of Financial Activities

incorporating the income and expenditure account for the year ended 31 March 2021

Notes
ncome from:
Donations and legacies
3
Charitable activities
4
Investments
5
Total income
Expenditure on:
Charitable activities
6
Total expenditure
Net income/(expenditure) for the year
Transfers between funds
17
Net movement in funds
Reconciliation of funds:
Total funds brought forward
13
Total funds carried forward
13		 2021
Total Funds
£
270
137,877
2
138,149
88,232
88,232
49,917
-
49,917
10,532
60,449		 2020
Unrestricted
Funds		 Restricted
Funds		 Total Funds
£
270
26,221
2		 £
-
111,656
-
111,656
80,861
80,861
30,795
172
30,967
5,001
35,968		 £
1,855
81,042
6
26,493 82,903
7,371 89,542
7,371 89,542
19,122
(172)		 (6,639)
18,950
5,531		 (6,639)
17,171
24,481 10,532

All incoming resources and resources expended are derived from continuing activities. The statement of financial activities incorporates an income and expenditure account. The accompanying accounting policies and notes form an integral part of these financial statements.

Page 9

(A Charity Company Limited by Guarantee, company number 2062208)

The Grand Union Music Theatre Limited

Statement of Financial Position as at 31 March 2021

Notes
Fixed assets:
Tangible assets
8
Total fixed assets
Current assets:
Stocks
9
Debtors
10
Cash at bank and in hand
11
Total current assets
12
Net current assets/(liabilities)
Total net assets
The funds of the charity:
Restricted income funds
15
Unrestricted funds
14
Total charity funds
18
Creditors: amounts falling due within one year		 £
£
£
£
179
357
179
357
1,077
1,077
251
537
60,411
12,262
61,739
13,876
1,469
3,701
60,270
10,175
60,449
10,532
35,968
5,001
24,481
5,531
60,449
10,532
31 March 2021
31 March 2020		 £
£
£
£
179
357
179
357
1,077
1,077
251
537
60,411
12,262
61,739
13,876
1,469
3,701
60,270
10,175
60,449
10,532
35,968
5,001
24,481
5,531
60,449
10,532
31 March 2021
31 March 2020
£
1,077
251
60,411
61,739
1,469		 £
357
357
10,175
10,532
5,001
5,531
10,532

The directors are satisfied that the company is entitled to exemption from audit under Section 477 of the Companies Act 2006 and that no member or members have requested an audit pursuant to section 476 of the Act.

The directors acknowledge their responsibilities for:

(i) ensuring that the company keeps proper accounting records which comply with Section 386 of the Companies Act 2006; and

(ii) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of the financial year and of its surplus or deficit for the financial year in accordance with the requirements of Section 394 and 395 of the Companies Act 2006, and which otherwise comply with the requirements of this act relating to accounts, so far as applicable to the charitable company.

These financial statements have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies and with the Financial Reporting Standard 102.

The financial statements were approved by the Board of Trustees on 9 December 2021 and signed on its behalf by:

Antonia Benedek Trustee

The notes on pages 12 to 17 form part of these accounts.

Page 10

The Grand Union Music Theatre Limited

(A Charity Company Limited by Guarantee, company number 2062208)

Statement of Cash Flows

for the year ended 31 March 2021

Notes
Cash flows from operating activities:
Net cash provided by/(used in) operating activities
1
Cash flows from investing activities:
Dividends, interest and rents from investments
Purchase of property, plant and equipment
Net cash provided by/(used in) investing activities
Change in cash and cash equivalents in the reporting period
Cash and cash equivalents at the beginning of the reporting period
2
Cash and cash equivalents at the end of the reporting period
2
Notes to the Cash Flow Statement
1)
Adjustments for:
Depreciation charges
Dividends, interest and rents from investments
(Increase)/decrease in stocks and work in progress
(Increase)/decrease in debtors
Increase/(decrease) in creditors
Net cash provided by/(used in) operating activities
2)
Analysis of cash and cash equivalents
Cash in hand
Total cash and cash equivalents
Reconciliation of net income/(expenditure) to net cash flow from
operating activities
Net income/(expenditure) for the reporting period (as per the statement of financial
activities)		 2021
2020
£
£
48,147
644
2
6
-
(534)
2
(528)
48,149
116
12,262
12,146
60,411
12,262
2021
2020
£
£
49,917
(6,639)
178
178
(2)
(6)
-
(29)
286
14,874
(2,232)
(7,730)
48,147
644
2021
2020
£
£
60,411
12,262
60,411
12,262

Page 11

(A Charity Company Limited by Guarantee, company number 2062208)

The Grand Union Music Theatre Limited

Accounting Policies

for the year ended 31 March 2021

Basis of preparation

The financial statements have been prepared in accordance with:

Public benefit entity

The charitable company meets the defination of a public benefit entity under FRS 102.

Going concern

The charity's income is mainly derived from non self-generated sources, such as grants, service level agreements and other governmental or NGO sources. The trustees consider that there are no material uncertainties about the likelihood that this support will continue, and accordingly, the accounts have been prepared on a going concern basis.

Income recognition

Income is recognised when the charity has a contractual or other right to its receipt, it is probable that the income will be received and that the amount can be measured reliably. Income with conditions attached to its receipt is recognised when those conditions have been fulfilled.

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.

Expenditure recognition

Expenditure is accrued as soon as a liability is considered probable, and the amount of obligation can be measured reliably. The charity is registered for VAT and accordingly expenditure excludes VAT where appropriate.

Expenditure included in Raising Funds includes amounts incurred in obtaining grants and other donations.

Costs are allocated directly to projects where they can be identified as relating solely to that project. Other costs are allocated between the funds based on staff time spent on the fund activities or other appropriate criteria.

Restricted Funds

Restricted funds are to be used for specified purposes as laid down by the funder. Direct and support expenditure which meets these criteria are identified to the fund together with a fair allocation of other costs.

Unrestricted Funds

Unrestricted funds are funds received which have no restrictions placed on their use and are available as general funds.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to the Statement of Financial Activities on a straight line basis over the period of the lease.

Page 12

The Grand Union Music Theatre Limited

(A Charity Company Limited by Guarantee, company number 2062208)

Accounting Policies

for the year ended 31 March 2021

Pensions

The charity operates defined contribution schemes which are administered by outside independent pensions providers. Contributions payable for the year are charged to the Statement of Financial Activities.

Tangible Fixed Assets

Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Computer equipment - 33% on cost Furniture & fixtures - 25% - 33% on cost

Stocks

Stock is valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Page 13

(A Charity Company Limited by Guarantee, company number 2062208)

F The Grand Union Music Theatre Limited

Notes to the Accounts

for the year ended 31 March 2021

1 Incoming resources

The incoming resources and surplus are attributable to the principal activities of the charity.

2 Net incoming resources

Net incoming resources 2021 2020
Net incoming resources are stated after charging: £ £
Independent Examiner's fees - reporting service 1,200 1,200
Depreciation - owned assets 178 178
Trustees' emoluments - -

Emoluments include salaries, fees, bonuses, expense allowances and estimated non-cash benefits receivable. All trustees serve in a voluntary capacity and do not receive payment for their services.

3
Income from donations and legacies
Donations
4
Income from charitable activities
Performance fees
Education fees
Grants and service level agreements
Other
5
Income from investments
Bank interest		 Unrestricted
£
270
270
Unrestricted
£
185
8,000
18,000
36
26,221
Unrestricted
£
2
2		 Restricted
£
-
-
Restricted
£
-
4,262
107,394
-
111,656
Restricted
£
-
-		 2021
2020
Total
Total
£
£
270
1,855
270
1,855
2021
2020
Total
Total
£
£
185
6,610
12,262
20,390
125,394
53,165
36
877
137,877
81,042
2021
2020
Total
Total
£
£
2
6
2
6
6 Resources expended: Charitable activities
Direct costs
Artists fees
Project staff/consultants/technicians
Other production costs
Accommodation and transport
Marketing and PR
Support costs
Wages
Office costs
Rent/premises
Audit legal/bank/insurance
Depreciation charge for the year
(Profit) / loss on foreign exchange		 Unrestricted
£
-
2,172
60
290
-
654
-
897
1,872
-
1,301
178
(53)
7,371		 Restricted
£
-
32,293
12,622
1,593
125
10,319
-
8,813
8,939
5,200
957
-
-
80,861		 2021
Total
£
-
34,465
12,682
1,883
125
10,973
-
9,710
10,811
5,200
2,258
178
(53)
88,232		 2020
Total
£
-
29,986
12,541
2,327
4,890
8,020
-
19,478
2,324
7,800
1,916
178
82
89,542

Page 14

(A Charity Company Limited by Guarantee, company number 2062208)

F The Grand Union Music Theatre Limited

Notes to the Accounts

for the year ended 31 March 2021

7 Staff costs
7
Staff costs
Staff salaries
Employees paid in excess of £60,000 during the current year and previous year:
8
Tangible fixed assets
Tangible 1
Tangible 2
Software
£
£
£
Cost
As at 1 April 2020
-
-
-
As at 31 March 2021
-
-
-
Depreciation
As at 1 April 2020
-
-
-
Charge for the year
-
-
-
As at 31 March 2021
-
-
-
Net book value
As at 31 March 2021
-
-
-
As at 31 March 2020
-
-
-
9
Stocks
Stock
10 Debtors: amounts falling due within one year
VAT refund
11 Bank and cash in hand
Reserve account
Natwest current account
Natwest euro account
Petty cash
12 Creditors: amounts falling due within one year
Other creditors
Accruals and deferred income
Average number of employees during the year was:		 Computer
equipment
£
54,751
54,751
54,395
178
54,573
178
356		 2021
£
9,710
9,710
1
None
Furniture &
fixtures
£
11,425
11,425
11,424
-
11,424
1
1
2021
£
1,077
1,077
2021
£
251
251
2021
£
20,020
38,819
1,510
62
60,411
2021
£
269
1,200
1,469		 2020
£
9,677
9,677
1
None
Total
£
66,176
66,176
65,819
178
65,997
179
357
2020
£
1,077
1,077
2020
£
537
537
2020
£
1,018
9,725
1,457
62
12,262
2020
£
-
3,701
3,701

Page 15

(A Charity Company Limited by Guarantee, company number 2062208)

F The Grand Union Music Theatre Limited

Notes to the Accounts

for the year ended 31 March 2021

13
14
15
**16 **		 The funds of the charity: current year
Restricted funds
Restricted income funds
Unrestricted funds
General funds
The funds of the charity: prior year
Restricted funds
Restricted income funds
Unrestricted funds
General funds
Restricted funds: current year
Arts Council project grants
Arts Council Emergency Fund
Foundation for Future London
Garfield Weston
LB Hackney - Hoxton and Shoreditch Art Fund
LB of Tower Hamlets
London Community Response Fund
Reverberate
Charities Aid Foundation
Cockayne Foundation - Grants for the Arts
Near Neighbours Fund
Restricted funds: prior year
Arts Council project grants
LB Hackney
LB of Tower Hamlets		 Opening
balance
£
5,001
5,531
10,532
Opening
balance
£
-
17,171
17,171
Opening
balance
£
5,001
-
-
-
-
-
-
-
-
-
-
5,001
Opening
balance
£
-
-
-
-		 Resources
arising
£
111,656
26,493
138,149
Resources
arising
£
53,165
29,738
82,903
Incoming
resources
£
32,420
25,074
1,400
6,000
5,000
6,762
15,000
2,000
10,000
5,000
3,000
111,656
Incoming
resources
£
42,765
8,700
1,700
53,165		 Resources
utilised
£
(80,861)
(7,371)
(88,232)
Resources
utilised
£
(49,898)
(39,644)
(89,542)
Resources
expended
£
31,295
25,074
-
-
-
6,803
12,559
2,012
-
-
3,119
80,861
Resources
expended
£
37,764
10,434
1,700
49,898		 Other
movements
Closing
balance
£
£
172
35,968
(172)
24,481
-
60,449
Other
movements
Closing
balance
£
£
1,734
5,001
(1,734)
5,531
-
10,532
Transfers &
gains/(losses)
Closing
balance
£
£
-
6,126
-
-
-
1,400
-
6,000
-
5,000
41
-
-
2,441
12
-
-
10,000
-
5,000
119
-
172
35,968
Transfers &
gains/(losses)
Closing
balance
£
£
-
5,001
1,734
-
-
-
1,734
5,001

Restricted funds (continued)

Projects financed by restricted funds are supported by unrestricted funding where necessary. This occurs where the funding is in arrears or the incidence of expenditure on the project occurs disproportionately at the beginning of the project compared to the income flows. Where restricted projects end the year with a deficit, this is met by after year-end restricted income or transfers from unrestricted funds.

Arts Council project grants

Supporting our young professionals Re:Generation scheme and redeveloping the ways we

East London communities.

online library and other digital resources to support live work again. Arts Council Emergency Fund supported us during this difficult period where earned income was low. Foundation for Future London for work with Headway East London and other neurodiverse groups.

Page 16

(A Charity Company Limited by Guarantee, company number 2062208)

F The Grand Union Music Theatre Limited

Notes to the Accounts

for the year ended 31 March 2021

LB Hackney - Hoxton and
Shoreditch Art Fund		 Developing a community orchestra for Hoxton and Shoreditch.
LB of Tower Hamlets Local events in the Borough to adapted to restrictions.
London Community Response
Fund		 emergency support for work during this time.
Reverberate Youngmusicians music heritage project.
Charities Aid Foundation Resilience Fund.
Cockayne Foundation - Grants
for the Arts		 For work celebrating the Independence of Bangladesh.
Near Neighbours Fund work with local communities in Tower Hamlets.
17 Transfers between funds
General to restricted
18 Net assets attributable to funds: current year
Tangible fixed assets
Current assets
Current liabilities
Net assets represented by funds		 General
funds
(172)
(172)
General
funds
179
25,771
(1,469)
24,481		 Designated
funds
-
Designated
funds
£
-
-
-
-		 Restricted
funds
172
172
Restricted
funds
£
-
35,968
-
35,968		 Endowment
funds
-
Endowment
funds
£
-
-
-
-		 Total
-
-
Total
£
179
61,739
(1,469)
60,449
19 Net assets attributable to funds: prior year
Tangible fixed assets
Current assets
Current liabilities
Net assets represented by funds		 General
funds
357
8,875
(3,701)
5,531		 Designated
funds
£
-
-
-
-		 Restricted
funds
£
-
5,001
-
5,001		 Endowment
funds
Total
£
£
-
357
-
13,876
-
(3,701)
-
10,532

20 Taxation

The company is a registered charity. Accordingly, it is exempt from taxation in respect of income and capital gains to the extent that these are applied to its charitable objects.

21 Post balance sheet events

There were no significant post balance sheet events.

22 Pension commitments

The charitable company contributes to employee defined contribution (DC) stakeholder pension schemes. The assets of the schemes are held separately from those of the charitable company in independently administered funds.

23 Contingent liabilities

The charitable company had no material contingent liabilities at 31 March 2021 nor at 31 March 2020.

24 Related parties

There were no disclosable related party transactions during the year.

25 Gifts in kind and volunteers

During the year the charitable company benefited from unpaid work performed by volunteers.

26 Company status

The company is limited by guarantee and accordingly does not have a share capital. Every member of the company undertakes to contribute such amount as may be required not exceeding £1 to the assets of the charitable company in the event of it being wound up while he or she is a member, or within one year after he or she ceases to be a member.

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