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2023-03-31-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 2023

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

Index to the Financial Statements for the year ended 31 March 2023

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 - 18

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 2023

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 2023

The Board of Trustees (who are also directors of the charity for the purposes of the Companies Act) submits their annual report and financial statement for the year ended 31 March 2023.

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

Upon declaration of their interest to be a trustee, a new trustee receives the company’s governing documents, most recent 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.

Staff

Tony Haynes, Composer / Creative Director Jane Deppa, General Administrator Richard Mallett, Project Development Director Gabriel May, Recorded Material development Joanna Cole, PR & Marketing Basia Talago-Jones, Social Media and Production Assistant

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

Over this financial year we held over 60 open workshops for all ages, 16 local community events. A brand new participatory programme, and 2 large-scale professional shows.

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 2023

40th Anniversary Show

The key focus of the first part of 2022 was a month-long celebration of Grand Union’s 40th anniversary in May 2022 presenting all aspects of our work – from the Youth Orchestra and Re:Generation Band through community and participatory activities to a specially created large-scale show for the Hackney Empire Theatre. The 40th Anniversary show (14/15 May) was a joyous retrospective featuring all our core musicians alongside young artists and guests.

We worked hard to get press coverage and had good success with offering ticket deals to local community groups. This showcase of exemplary events continued throughout the year and ended on 3 December at Shoreditch Town Hall with a final Anniversary celebration.

New Participatory Programme

In October 2022 we ran a series of workshops, informal gatherings and performances led by artists born or brought up in musical traditions ranging from South Africa and Zimbabwe, through Angola, the Democratic Republic of the Congo and Sierra Leone to Nigeria, Ghana and Somalia. There were chances to meet the musicians and bring songs and stories, and the final performance on 29 October included different generations of musicians and singers exploring and honouring the influence of African traditions on our society today.

Community Orchestra for Hoxton and Shoreditch

Our Community Orchestra commissioned by the LB Hackney Shoreditch and Hoxton Art Fund, continued to develop with open workshops and performances in Hoxton Gardens and markets in April, May and June. After a great season of sharing global music flourishing in the neighbourhood, we were delighted to be able to have a larger-scale performance for this ensemble at Shoreditch Town Hall on December 4th. Rehearsals were led by Claude Deppa (South Africa) and Joshua Brandler (Switzerland/Caribbean) who helped the group develop a repertoire that included music from China and South Asia, through Turkey and the Middle East, to Africa, the Caribbean and Latin America.

Festivals and community events

As well as taking part in All Points East yearly neighbourhood festival in Victoria Park, we were delighted to be asked to curate the music on the bandstand to re-open Springfield Park in Newham. Multi-instrumentalist Gerry Hunt brought together local bands and singers for this lively celebration in June. Later in the year (6 November), we put together a family show for the Wimbledon Festival which featured Zhu Xiao Meng (Shanghai) gu zheng, Shanti Jayasinha (Sri Lanka/Scotland) trumpet, flugelhorn, cello and a young tabla player Naveen Ganesaperumal (India) who is part of the ReGeneration Band as well as joining the professional orchestra for large-scale shows.

Directed by table maestro Yousuf Ali Khan, the popular Bengal to Bethnal Green Sunday afternoon concerts continued throughout the year. British-born Bengli musicians from East London and visiting musicians from Bangladesh shared the stage with core Grand Union professional musicians, and younger artists performing alongside their mentors.

Grand Union Unwrapped took part across the period of reflection in Lent and Ramadan, with relaxed evenings featuring two musicians in conversation and performance sharing musical ideas, and techniques that have influenced them. Interesting duos emerged such as Ros Davies (Wales) trombone, flute, voice and Andy Grappy (Caribbean British) tuba and we hope to develop this model for next year.

Work with the Next Generation

This year we invited special guests to lead our Youth Orchestra sessions. For example in the Spring young Baglama (saz) players and the mentors shared Anatolian songs and the Alevi tradition; Bangladeshi singer Akash Sultan shared elements of South Asian Classical and Traditional songs; and Brazilian dancer and drummer Ricardo Axe brought candomble traditions which grew out of the Yoruba culture.

The ReGeneration Band under the direction of Joshua Brandler (Switzerland/Carribean) found new performance and workshop opportunities and began to make partnerships with local venues. Monthly jam sessions at Poplar Union are popular and a great way to meet potential young musicians and singers from an increasingly diverse range of cultures.

Filming and Recordings

Filming and editing continued towards a high quality documentary as a legacy of the Orchestra’s work, and for promotional purposes and advocacy use. In June 2022 we released a new album ‘Made By Human Hands’ - a collection of 16 tracks drawn from 40 years of touring shows and BBC Radio 3 live broadcasts and recordings.

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 2023

Plans for 2023-24

A choral based project to relaunch Grand Union Voices 10 day festival to commemorate Windrush 75 with migrant-descended communities Development of work with Turkish and South Asian communities Release of 40th Anniversary Film

Fundraising

We aim to be less reliant on ever competitive grants and seek paid commissions and performances for the Orchestra. We will however, continue to seek new funders and supporters for this important Anniversary Year.

With Special Thanks to our Funders

We are grateful for grants over the course of the year from Arts Council England towards Grand Union's 40th Anniversary Programme, 'The Mirror or the Hammer' project exploring using music as an agent for change across the generations, and the final payment of the Cultural Recovery Fund.

We greatly appreciate the continuing support from John Lewis Partnership for our work with next generation of musicians, and The Makers of Playing Cards Charity grants for young musicians and emerging young professonals from marginalised groups. The Worshipful Company of Chartered Secretaries and Administrators also supported Youth Orchestra activities based in London.

The Foyle Foundation helped significantly with the ongoing costs of participatory music programmes, and the Garfield Weston Foundation helped us develop a new cross-cultural music project.

We were able to develop our Grand Union ReGeneration Band programme with the valued support of Youth Music , and Sound Connections contributed towards the emerging artists creating their their own response to Windrush 75.

London Borough of Tower Hamlets , supported Grand Union Unwrapped Events and Black History Month workshops.

The Hoxton and Shoreditch Community Orchestra enjoyed a new phase of development thanks to the Shoreditch and Hoxton Arts Fund , and the London Borough of Hackney supported a range of open air festival events in markets and gardens.

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 a decrease in funds for the year of £68,671, and reserves of £16,433.

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 8 December 2023 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 2023

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 2022 to 31 March 2023, which are set out on pages 9 to 18.

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: 8 December 2023

Page 8

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

FS The Grand Union Music Theatre Limited

Statement of Financial Activities

incorporating the income and expenditure account for the year ended 31 March 2023

Notes
Income 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		 2023
2022
Total Funds
Total Funds
£
£
13,443
1,020
101,637
175,278
73
-
115,153
176,298
183,824
151,643
183,824
151,643
(68,671)
24,655
-
-
(68,671)
24,655
85,104
60,449
16,433
85,104
Unrestricted
Funds		 Restricted
Funds
£
13,443
26,750
73		 £
-
74,887
-
74,887
144,310
144,310
(69,423)
33,515
(35,908)
41,731
5,823
40,266
39,514
39,514
752
(33,515)
(32,763)
43,373
10,610

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 2023

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
19
Creditors: amounts falling due within one year		 £
£
£
£
1
1
1
1
1,266
1,003
1,524
39,732
16,968
50,468
19,758
91,203
3,326
6,100
16,432
85,103
16,433
85,104
5,823
41,731
10,610
43,373
16,433
85,104
31 March 2023
31 March 2022		 £
£
£
£
1
1
1
1
1,266
1,003
1,524
39,732
16,968
50,468
19,758
91,203
3,326
6,100
16,432
85,103
16,433
85,104
5,823
41,731
10,610
43,373
16,433
85,104
31 March 2023
31 March 2022
£
1,266
1,524
16,968
19,758
3,326		 £
1
1
85,103
85,104
41,731
43,373
85,104

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 8 December 2023 and signed on its behalf by:

Antonia Benedek Trustee

The notes on pages 12 to 18 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 2023

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
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)		 2023
£
(33,573)
73
73
(33,500)
50,468
16,968
2023
£
(68,671)
-
(73)
(263)
38,208
(2,774)
(33,573)
2023
£
16,968
16,968		 2022
£
(9,943)
-
-
(9,943)
60,411
50,468
2022
£
24,655
178
-
74
(39,481)
4,630
(9,943)
2022
£
50,468
50,468

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 2023

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.

Charitable expenditure includes those costs expended in fulfilling the charity’s principal objects, as outlined in the Report of the Trustees. These include grants payable, governance costs and an apportionment of support costs.

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

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

The Grand Union Music Theatre Limited

Accounting Policies

for the year ended 31 March 2023

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 2023

1 Incoming resources

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

2 Net outgoing resources
Net outgoing resources
Net outgoing resources are stated after charging:
Independent Examiner's fees - reporting service
Independent Examiner's fees - other services
Depreciation - owned assets
Trustees' emoluments		 2023
£
1,200
300
-
-		 2022
£
1,200
300
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
4
5
6		 Income from donations and legacies
Donations
Income from charitable activities
Performance fees
Education fees
Grants and service level agreements
Income from investments
Bank interest
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
Accountancy/legal/bank/insurance
Depreciation charge for the year
(Profit) / loss on foreign exchange		 Unrestricted
£
13,443
13,443
Unrestricted
£
10,100
16,650
-
26,750
Unrestricted
£
73
73
Unrestricted
£
-
4,615
2,100
11,660
-
10,171
-
960
4,254
1,000
4,754
-
-
39,514		 Restricted
£
-
-
Restricted
£
-
1,500
73,387
74,887
Restricted
£
-
-
Restricted
£
-
45,666
16,551
24,565
2,658
19,627
-
10,560
15,095
8,364
1,224
-
-
144,310		 2023
Total
£
13,443
13,443
2023
Total
£
10,100
18,150
73,387
101,637
2023
Total
£
73
73
2023
Total
£
-
50,281
18,651
36,225
2,658
29,798
-
11,520
19,349
9,364
5,978
-
-
183,824		 2022
Total
£
1,020
1,020
2022
Total
£
3,682
39,908
131,688
175,278
2022
Total
£
-
-
2022
Total
£
-
61,206
8,656
15,983
1,695
26,674
-
9,889
15,816
7,940
3,534
178
72
151,643

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 2023

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 2022
-
-
-
As at 31 March 2023
-
-
-
Depreciation
As at 1 April 2022
-
-
-
As at 31 March 2023
-
-
-
Net book value
As at 31 March 2023
-
-
-
As at 31 March 2022
-
-
-
9
Stocks
Stock
10 Debtors: amounts falling due within one year
Trade debtors
VAT refund
11 Bank and cash in hand
Reserve account
Natwest current account
Petty cash
12 Creditors: amounts falling due within one year
Trade creditors
Other creditors
Accruals and deferred income
Average number of employees during the year was:		 Computer
equipment
£
54,751
54,751
54,751
54,751
-
-		 2023
£
11,520
11,520
1
None
Furniture &
fixtures
£
11,425
11,425
11,424
11,424
1
1
2023
£
1,266
1,266
2023
£
605
919
1,524
2023
£
11,091
5,815
62
16,968
2023
£
1,700
428
1,198
3,326		 2022
£
9,889
9,889
1
None
Total
£
66,176
66,176
66,175
66,175
1
1
2022
£
1,003
1,003
2022
£
38,004
1,728
39,732
2022
£
27,018
23,388
62
50,468
2022
£
3,188
1,712
1,200
6,100

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 2023

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
Garfield Weston
LB Hackney
LB of Tower Hamlets
Sound Connections
Cockayne Foundation
Youth Music
Restricted funds: prior year
Arts Council project grants
Foyle Foundation
Foundation for Future London
Garfield Weston
LB Hackney
LB of Tower Hamlets
London Community Response Fund
Charities Aid Foundation
Sound Connections
Cockayne Foundation
Youth Music		 Opening
balance
£
41,731
43,373
85,104
Opening
balance
£
35,968
24,481
60,449
Opening
balance
£
27,812
174
-
-
-
-
13,744
41,731
Opening
balance
£
6,127
-
1,400
6,000
5,000
-
2,441
10,000
-
5,000
-
35,968		 Resources
arising
£
74,887
40,266
115,153
Resources
arising
£
164,468
11,830
176,298
Incoming
resources
£
32,433
3,000
23,954
6,000
1,500
8,000
-
74,887
Incoming
resources
£
100,038
5,000
1,400
-
5,750
24,500
-
-
1,500
-
26,280
164,468		 Resources
utilised
£
(144,310)
(39,514)
(183,824)
Resources
utilised
£
(149,873)
(1,770)
(151,643)
Resources
expended
£
93,603
3,193
24,042
6,010
1,528
2,177
13,755
144,310
Resources
expended
£
78,353
5,055
2,830
5,826
10,809
25,257
2,447
10,000
1,511
5,250
12,536
159,874		 Other
movements
£
33,515
(33,515)
-
Other
movements
£
(8,832)
8,832
-
Transfers &
gains/(losses)
£
33,358
19
88
10
28
-
11
33,515
Transfers &
gains/(losses)
£
-
55
30
-
59
757
6
-
11
250
-
1,168		 Closing
balance
£
5,823
10,610
16,433
Closing
balance
£
41,731
43,373
85,104
Closing
balance
£
-
-
-
-
-
5,823
-
5,823
Closing
balance
£
27,812
-
-
174
-
-
-
-
-
-
13,744
41,731

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 2023

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.

from unrestricted funds.
Arts Council project grants Grand Union's 40th Anniversary Programme.
‘The Mirror or the Hammer' project exploring using music as an agent for change across the
generations.
Foyle Foundation Ongoingcosts ofparticipatorymusicprogrammes.
Foundation for Future London For work with HeadwayEast London and other neurodiversegroups.
Garfield Weston Developing a new cross-cultural music project in 2023.
LB Hackney Developing a community orchestra for Hoxton and Shoreditch and supported a range of
open air festival events in markets and gardens.
LB of Tower Hamlets Supported Grand Union Unwrapped Events and Black History Month workshops.
London Community Response Emergency support for work during this time.
Charities Aid Foundation Resilience Fund.
Sound Connections Contributed towards the emergingartists creatingtheir own response to Windrush 75.
Cockayne Foundation Creative costs associated with collaboration with the Turkish community.
Youth Music SupportingGrand Union ReGeneration Bandprogramme.
17 Transfers between funds: current year
General to restricted
18 Transfers between funds: prior year
General to restricted
Restricted to general		 General
funds
(33,515)
(33,515)
General
funds
(1,168)
10,000
8,832		 Designated
funds
-
Designated
funds
-		 Restricted
funds
33,515
33,515
Restricted
funds
1,168
(10,000)
(8,832)		 Endowment
funds
-
Endowment
funds
-		 Total
-
-
Total
-
-
-
19 Net assets attributable to funds: current year
Tangible fixed assets
Current assets
Current liabilities
Net assets represented by funds		 General
funds
1
13,935
(3,326)
10,610		 Designated
funds
£
-
-
-
-		 Restricted
funds
£
-
5,823
-
5,823		 Endowment
funds
£
-
-
-
-		 Total
£
1
19,758
(3,326)
16,433
20 Net assets attributable to funds: prior year
Tangible fixed assets
Current assets
Current liabilities
Net assets represented by funds		 General
funds
1
49,472
(6,100)
43,373		 Designated
funds
£
-
-
-
-		 Restricted
funds
£
-
41,731
-
41,731		 Endowment
funds
£
-
-
-
-		 Total
£
1
91,203
(6,100)
85,104

21 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.

22 Post balance sheet events

There were no significant post balance sheet events.

Page 17

F The Grand Union Music Theatre Limited

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

Notes to the Accounts

for the year ended 31 March 2023

23 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.

24 Contingent liabilities

The charitable company had no material contingent liabilities at 31 March 2023 nor at 31 March 2022.

25 Related parties

There were no disclosable related party transactions during the year.

26 Gifts in kind and volunteers

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

27 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.

Page 18