MUSIC
IN THE ROUND
REPORT OF THE TRUSTEES AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022
FOR
MUSIC IN THE ROUND LIMITED
MUSIC
IN THE ROUND
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2022
Registered company (England and Wales): 01880734
Registered Charity: 326811
Contents
Page
Reference and Administration information
Trustees, Report
4-17
Independent Examinerfs Report
18
Statement of Financial Activities
19
Statement of Financial Position
20
Cash flow statement
21
Notes to the financial statements
22-30
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MUSIC
IN THE ROUND
REPORTOF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2022
REFERENCE AND ADMINISTRATION INFORMATION
ReEistered Company No.
01880734 IEngland and Wales)
Registered Charity No.
326811
Registered Office
4th floor
Sheffield Central Library
Surrey Street
Sheffield Sl IXZ
Trustee5
Sughra Begum DL (appointed 10 June 20221
Jan Bonar- Vice Chair
Jenny Dibden Steven5- Chair (appointed 10 JLtne 20221
Judith Ennis IresiEned 10 June 20221
Ellen Gallagher
Prof Jane Ginsborg- Vice Chair (Chair from 11 June 2021-10 June 20221
Christopher Glynn
Mary Heyler (resigned 11 June 20211
Prof Pat Kendall-Toylor
Cara McAleese lappointed 10 June 20221
Dr Stella Mascarenha5-Keyes (resigned 10 June 20221
Dr Sarah Price
Mark Sutherland (appointed 11 June 20211
Chloe Wennersten
Chief Executive
Jo Towler
Independent Examlner
Philip A1150p FCA
BHP LLP
2 Rutland Park
Sheffield
S102PD
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MUSIC
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REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2022
Objectives and aims
The objectives of Music in the Round, as stated in its Articles of Association, are to promote, maintain,
improve and advance education particularly by the orBanisation and presentation of programme5,
festivals and occasions of a similar kind, which will encoL*rage the art5 in general with special reference
to the art of string, chamber and other music, singing and related arts.
"Music In the Round h05 revolutlonlsed the woy people listen to musid, In Tune, BBC Radio 3
Mission Statement
ML*SiC in the Round IMitRI was established in Sheffield in 1984 by Peter Cropper and the renowned
Lindsay String Quartet, who pioneered the idea of music performed and listened to 'in-the-round' When
The Lindsays retired in 2005, we formed Ensemble 360, a group of 11 highly talented mijsicians who are
at the core of all our activity.
We are now the leading national promoter of chamber music, presenting hundreds of events in
partnership with venues across the country for audiences of all ages, particularly in areas where there is
little provision of professional live classical music, including Doncaster, Barnsley, Portsmouth and
Barking & Dagenham. Our annual programme includes the nine-day Sheffield Chamber Music Festival in
the Crucible Theatre each May, as well as activity across the city in unusual venues.
Our mission has always been to 'get people closer to the music,. Audiences do this by experiencing live
music while seated in the round,. musicians introduce themselves and the muslc thewre playing,. and we
also provide contextualising talks, participatory events and online resources as part of our programme.
Although 'in the round, is defined through the physical arrangement of the audience sitting around the
musicians, just a few metres away from amazing artists playing spine-tingling music with their heart and
soul, fundamentally it is about connecting people to each other through music in a way that live5 on long
after the event. We present chamber music that is characterised by passion, excellence and proximity,
through..
Ensemble 360, a world-class resident group of musicians
outstanding visiting artists from a diverse range of musical genres
a varied learning and participation programme for Early Years to Later Years
a commitment to SUPPOrting the development of younE audiences and musicians
delivering hundreds of live music experiences in a collaboration with different venues and
organisations across the country to thousands of people each year
Achievements and Performance
Music in the Round has a target of delivering over 100 income-generating concerts each year. In
2021/22 this was again not possible due to the Covid-19 pandemic. We held the Sheffield Chamber
Music Festival online again, with 25 events presented both live online and pre-recorded broadcast from
our Crucible Studio home onto YouTube, and from August onwards we presented live concerts, albeit
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REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2022
with a greatly reduced audience
capacity. In total we gave 62 live
performances in 13 venues across
the country, of which 8 were in
South Yorkshire, with the rest in
London, Portsmouth, 8olsover,
Milton Keynes and Leamington Spa.
Most of the concerts featured our
resident musicians, Ensemble 360,
but we were delighted to present
top quality guest artist5 such as
Paul Lewis, Roderick Williams,
Craig Ogden, Julian Joseph, Mishka
Rushdie Momen and Elaine
Mitchener.
Tim Horton performing online In the Cruciblestudio in SCMF2021
Sheffield Chamber Music Festival
2021 ran over five days111-15 May) instead of its usual nine. It featured a variety of concerts broadcast
online from the Crucible Studio as well a5 pre-recorded events. These included our first ever videos
created in 360 degrees with binaural sound, enabling audiences to listen from literally within the
ensemble and able to choose whom they look at and listen to at any time during the video. Of the three
such films made, one IBeethoven Grosse Fugel achieved over 14,000 views on YouTube.
The autumn season in Sheffield began with hour-long concerts at Upper Chapel that were repeated at
lunchtime and evening due to the audience capacity being limited to only 18%. DurinE the autumn we
were allowed to increase the audience capacity of venues, which meant we could return to the Studio
and full-length concerts and perform to more people. In total we performed to just under 11,000 people
during 2021122, and we really enjoyed being able to present live music to appreciative audiences again.
Supporting new music
Our relationship with the Royal Philharmonic Soclety sees us present the world premiere of their annual
Chamber Music commission, part of their programme supporting emerging composers. In October 2021
Ensemble 360 performed this PRS commission, a new work by Ruta Vltkauskaitè, at our first concert
back in the Crucible Studio since February 2020.
Through funding from Arts Council England we were able to begin a new strand of concerts, Sounds of
Now, in spring 2022. Launching with a fantastic event with Elalne Mitchener and Apartment House In
March to a hugely appreciative audience, Sounds of Now continues throughout 2022 with the aim of
providing a platform for musicians who are pioneering Some of the most excitinE artistic ideas today,
inspiring new thinking and provoking debate.
Other contemporary composers featured during the year include Rebecca Clarke, Katalin Ladik, Jeanne
Lee, Benjamln Patterson, Archie Shepp, lan Venables and Judith Weir as well as compositions from
performers Jon Boden, Julian Joseph, Tony Kofl and Elaine Mitchener.
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REPORT OF THE TRUSTEES FOR THE YEAR ENDEO 31 MARCH 2022
Events for two significant figures associated with Music in the Round took place during the year. A
celebration of the life of Tony Thornton, one of the original backers and long-term supporters of Music
in the Round since its beginnings in 1984, took place in July 2021 in the CrL*cible Studio. Performers
included The Gesualdo Six, Sarah Fox and Ensemble 360, who performed for an audience of invited
friends and family. Ronnie Blrks, second violin in the Lindsay String Quartet, had passed away in
December 2020, but we were not able to present a concert for his friends, family and Friends of Music in
the Round until March 2022. Featuring former members of The Lindsays Robin Ireland and Bernard
Gregor-smith, along with Martin Cropper, Peter Hill and other guests, it was a wonderful celebration of
hi5 life and favourite music.
Learning & Participation
During 2021122 we were still restricted regarding our learning & participation activity due to COVID-19
restrictions, but we still engaged with 8,605 people of all ages, including 5,537 in Sheffield and over
3,000 nationally. Despite the restrictions, in October we gave the world premiere of our brand new
storybook project for Early Years, based on the popular children's book Izzy Gizmo by Pip Jones, which
tells the tale of a young female inventor who puts her talents to work to rescue a crow.
Ensemble 360 and Polly Ives presented Izzy Gizmo to 2,038 young people and 317 adults from
34 different schools and EY settings in Sheffield's Crucible Theatre. This included a continuation of our
valued collaboration with the Sheffield South East Learning Partnership ISSELPI. SSELP is a partnership of
18 schools in south east Sheffield, an area of Sheffield that has historically not engaged with cultural
activity. Ten primary schools from SSELP signed up for the Izzy Gizmo project, and they brought 491
young people from low socio-economic backgrounds to the Crucible, many for the first time.
As a group we havefvind thot our
children have become more vocal and
more confident to tuke port in group
uctivities, tsnd children who may have
suffered with their confidence In the post
have become some of the loudest singers
in the group.
Elmore Kindergarten
The chlldren hove u loveAor music. whlch
has been enhanced by the Immediate
stort of Glzmo when they started
school.
Holt House Infant School
We are a partner of Sheffleld Music Hub, and regularly organise opportunities for their students to
attend our concerts and perform with our musicians. Alongside this we have been supporting the Hub's
'Futurlng Talent, programme, created to give opportunities to students who face barriers to their
musical development. An important aim of the scheme is for the students to meet professional
musicians and to see the music profession as an achievable goal. Many groups of students from the
scheme attended our concerts in spring 2022, often with family member5 who themselves have never
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been to a concert or even into the Crucible Theatre before, and we also arranged for them meet
members of Ensemble 360 after a performance.
We continued our nascent relationship with South Yorkshire Housing Association and its 'Moments of
Joy, initiative, visiting their residential settings during summer and autumn 2021. This project brought
music to life for their resident vulnerable adults in which they became singers, composers arid
songwriters, co-devising two new pieces supported by musicians from Music in the Round.
CASE STUDY.. FLOWERS OF DOE LEA
In February and March 2021 we collaborated with Orchestras Live, Bolsover District Council, Doe Lea
Centre and Bramley Vale Primary School on a composition project, The Flowers of Doe Lea,, led by
composer Duncan Chapman, artist Martyn Stonehouse and three of our musicians (Naomi Atherton,
horn,. Raye Harvey, violin,. Jamie Manson, bassl. Doe Lea is an ex-mining village, and by the side of its
entrance road is a RIBA East Midland award-winning sculpture set in a bed of wild flowers. It comprises
curved metal tubes that spell out the name of the village from a certain angle, and 16 students from the
school worked with Duncan and the mtjsicians over a couple of weeks to generate their own creative
responses to the sculpture. The pieces were performed by the students and musicians, interspersed
with short pieces of chamber music by the MitR musicians, to an invited audience of friends, family and
guests in the Doe Lea Centre. After this live event. Martyn created an interactive online resource based
on content created during sessions at the school that can be available to anyone and everyone.
lfind thot identifying a creative process Is much
eosier to introduce people into the orts in a
community. The journey of making can be just
as rewarding as the end product.. Possibility is
somethlng we all need more of. Maklng ort
accessible. affordable, inclusive, unbiased.
challenging, exciting Gndfun ore ull with the
reolms of anyone's possiblefuture.
Daniel Oakley, Community Arts Development
Officer at Bolsover Council
A studentfrtrm Bromley Vale Primtsryschool using
Roye's violirj sound CT5 PQrtof the creotion of oft
Improwsedpigce inspiredby the SCLilprure
'CominE Togetherf events now form a regular part of our proEramme, and we have committed to
delivering these events a couple of times a year in Sheffield to give a local community a chance to come
together and make muslc, Wlth the support and guidance of professional musicians. In March we held a
large-scale community event as part of our postponed Beethoven 250 celebrations from spring 2020,
inviting instrumentalists of any age. instrument and ability to come together and perform one of his
most famous works, the opening movement of Symphony No.5. For this event, we worked in
onjunction with Ensemble 360, local orchestra Hallam Sinfonia and composer and educator Andrew J.
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REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2022
Smith, who created an arrangement of the piece for us that enabled anyone to take part, with two
difficulty levels for participants to choose from as well as writing new parts for non-orchestral
instruments such as extended brass, guitar and piano. The event was immensely popular, selling out
well in advance, with over 70 people taking part. The afternoon was directed and conducted by Graham
Ross (Director of Music. Clare College, Cambridge) with Ensemble 360's violinist Claudia Ajmone-marsan
leading the orchestra.
Music in the Round is an Artsmark Partner, and during the year we engaged with Create Sheffield, our
Local Cultural Education Partnership, and worked with 37 schools with Artsmark status.
Concerts Plus
Embracing our mission of getting people 'closer to the music,, our aim is for 90% of Music in the Round
concerts to have an additional activity by 2024, ranging from a pre- or post-toncert conversation with
guest artists to having the opportunity to try the tabla. Ongoing social-distancinE restriction5 during the
year limited our ability to develop this area, but pre-concert talks and post-concert Q&As have been part
of our programme for many years, and we keep refreshing the format to see how we can best engage
with our audiences. In 2021-22 we aimed to give the events more of a focus on a specific area of the
performance..
Pianist Llbby Burges5 gave insights into her'Project 48,, between and during her four concerts in
one day, which involved her playing 01148 of Bach's preludes and fugues 48 times, one in each of
the 48 counties of England
RPS Chamber Music Commission composer Ruta Vitkauskaltè and Ensemble 360 cellist Gemma
Rosefield gave a Q&A after the world premiere of Ruta'5 piece that focused on the cello, looking
at writing for the instrument and their close collaboration on the new piece
Pianist Tim Horton and Music in the Round's Sheffield Programme Manager and BBC Radio 3
presenter Tom McKlnney hosted a post-concert Q&A about his performance, the first of six in a
new cycle focusing on Chopin, his influences and impact
During a performance of two of Bach's Cello Suites Gemma Rosefield talked about Bach and the
context of the Suites, and took questions from the audience, in a mid-concert event, which
meant people didn't have to arrive
earlylstay late to be part of it
Pianists Mishka Rushdie Momen and
Julian Joseph both met young musicians
from local Music Hubs Isheffield and
Doncaster) after their recitals, chatting with
them, talking about their music-making and
answering questions from the young
people.
Mishka Rushdle Momen tolks fo the oudienceduring
herpiono recitGI irtjonuory 2022
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NetworkS1 partnerships and collaborations
Music in the Round is represented on the boards of Sheffield Music Education Hub, Create Sheffield
Isheffield's Local Cultural & Education Partnership), Classical Sheffield (Chairl, Sheffield Culture
Consortium (Chair for the year Sept 2021-221, Sheffield Culture Collective, South Yorkshire Music Board
and Orchestras Live. Projects and activity in partnership with Sheffield Music Education Hub, Sheffield
Academy, Sheffield Theatres and The University of Sheffield continue to evolve, as do our collaborations
with The Leadmill, Sensoria, Festival of Debate and other organisations in the local area. Our
connections with Sheffield jazz enable them to give their musicians the opportunity to perform in the
Crucible Theatre, and for Classical Sheffield member groups to perform as part of the annual Sheffield
Chamber Music Festival.
Relationships include..
Young Concert Artists Trust IYCATI: one of their young musicians will be given a platform for
concert opportunities each year, as well as the opportunity to be part of our Learning &
Participation activity, developing their skills by working alongside our team and musitians.
Royal Philharmonic Soclety.. Music in the Round is now the regular presenter of the annual RPS
Chamber Music commission, and we will give the composer the opportunity to meet, work with
and alongside Ensemble 360 as they write the piece, providing insight and encouragement to
the creative process.
Black Lives In Muslc.. we are Founder Members of Black Lives in Music, supporting them since
early 2021, and are partnering with them for the next iteration of our Bridge scheme for
emerging musicians, focusing on wind players currently under-represented in chamber music
Leeds Conservatoire.. students from Leeds Conservatoire were part of the Sheffield Chamber
MLASIC Festival in 2022, with possible future collaborations and performance/masterclass
opportunities for their students.
Classical Sheffleld.. leading the development of this membership organisation las Chairl that
reache5 dozens of musical groups in the city, hundreds of music-makers and thousands of
audiences, 40% of whom are new to classical music, by encouraging its members to collaborate
and take music into more places to more people.
Sheffield Muslt Hub.. we have a long-standing partnership with the Hub, having helped it
develop from a Music Service, and are key to its aims of engaging all 70,000 young people in
Sheffield with making music through creative comp051tion projects, involvement in its Future
Talent scheme and providing access to our concerts and musicians.
Sheffield Music Academy: a growing relationship that will see Ensemble 360 musicians visiting
the Centre for Advanced Training on a regular basis, establishing stronger links between the
organisations, with the aim of providing high-quality coaching for their students.
Harmony Works.. The Music Hub and Music Academy afe purchasing a building in central
Sheffield to create a centre for music education in the heart of the city, Harmony Works. We are
a partner in this endeavour, working together to make Sheffield an amazing place for youn8
music-makers, with the aim of it opening in 2025126, and it being our new base.
The University of Sheffield.. Music in the Round regularly collaborates with the University on
research projects, such as one examining the impact of COVID-19 on arts organisations and into
Health & Wellbeing in the city. We regularly collaborate with the Music Management
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REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2022
department, offering volunteering and research opportunities, as well as students studying at
the Departmerlt of Music.
South Yorkshire Housing Assoclatlon.. following a successful project, 'Moments of Joy,, in 2021,
we are looking to continue to develop our relationship working with vulnerable adults in their
residential settings.
We are also discussing formalising a relationship with Ryedale Festival and Leeds Lieder, and
conversations continue with other organisations, such as the Leeds International Piano Competition,
Buxton International Festival and the Royal Over-seas League Music Competition.
Fundlng Development & Income Generation
We received a total of £234,07712020121.. £187,594) from Arts Council England IACEI and trusts and
foundations, including our funding agreement for two years12021-20231 with Mayfield Valley Arts Trust
to support Learning & Participation activity in Sheffield and South Yorkshire.
Earned income from artivity happily significantly increased to £118,454, from just £5,964 in 2020121, as
live activity began to take place during the year.
We received £42,200 from the UK government's Culture Recovery Fund administered by the DCMS and
ACE, and were also awarded a Projert Grant of £28,978 for our new Sounds of Now serie5 from ACE,
£14,489 of which was received in thi5 year.
During the year we continued to receive significant support from
Friends current and new, with income increasing to £26,187,
smashing our 2018-22 Business Plan target of raising £25,000 by
2021122 (income from Friends just £14,780 in 2017/18,. an
increase of 77%). We were delighted to receive a significant
legacy from Tony Thornton's estate, which will contribute towards
our Wecompose project, a5 agreed with his family.
With restrictions remaining in place for much of 2021, we received
very welcome support from donors as people and audiences
continued to support us and Ensemble 360. As in 2020121, we
ensured income was placed in our designated Future Festivals
Fund to support live activity and SCMF in the future, which grew to
E246,14512020121.. £228,733) in the year. This gives u5 a strong financial base from which we can plan
fvture Festivals, especially our forthcoming 40th anniversary in 2024, while audience capacity for
cor¢certs, and thus box office income, continues to remain below pre-pandemic levels.
We continue to enjoy a positive relationship with Arts Council England, retaining our statils as a National
Portfolio Organisation for the Extension Year, 2022123, and remain in the portfolio from 2023-26.
Sheffield City Council currently provides free office space and utilities (approximate value around
E20,1XJOI as support in kind, for which we are very grateful. We are seeking to retain this Support due to
the possible redevelopment of the Graves / Central Library Building in which the office is based,
although in the future we will be based in Canada House as part of Harmony Works.
Elrline Mitthenerlaunche5 Sounds of Now
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Staff and Operational Structure
The current staff team comprises nine people, led by the Chief Executive, of whom seven are part-time.
The refresh of the team structure during 2020121 has been working successfully, with the first Guest
Festival Curator for Sheffield Chamber Music Festival, Helen Grime, working well with Ensemble 360, the
Head of Programmes and other staff to create a fantastic nine days of events in May 2022. One staffinE
change during the year led to the Participation & Learning Coordinator position changing to Events &
Participation Coordinator to better reflect the tasks of the role.
Future Plans
We are fortunate that our financial resetves remain healthy despite the impact of several lockdowns
and thus hugely restricted activity over the last two years, but are even more aware of the need to
protect resetves for the future of the organisation now all government support has ceased. Having
recruited a Development Manager, we see this role as key to retaining all our new Friends gained i
2020-22 35 well a5 seeking new donors, supporters and local sponsorship to boost voluntary income for
Music in the Round.
Following on from two online festivals, one from the musicians. homes and one broadcast from the
Crucible Studio, Sheffield Chamber Music Festival 2022 was open to the public for the first time since
2019, and was also the first with a Guest Curator. Composer Helen Grlme programmed a fantastic line-
up over the nine days, with at least one female composer being performed in each of the 25 events,
which included music from Mozart, Beethoven and Chopin to Clarke, Meredith and Weir. Grime's music
also featured, introducing audiences to her music, alongside some rarely-performed composers
including Akira Nishimura, Grazyna 8acewicz, Britta Bystrom and Arlene Sierra.
Ensemble 360performing thefinolpiece the Crucible srtsdiofor5CMF2022
The Sheffield autumn Season began in September 2022, with audiences still lower than hoped, but
gradually recovering, especially for more popular programmes, and this trend is continuing for box office
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sale5 for the spring 2023 season. Concerts in venues across the country are also starting to pick up again,
including exciting new relatior¥ships with The Junction in Goole and Stoller Hall, Manchester. Some
partner venues are also embracing the opportunitie5 offered to engage more with their local
communities, including schools, and family concerts in their programming. Our strand of experimental
music, Sounds of Now, also continues in partnership with other organisations.
Sheffield Chamber Music Festival 2023 sees pianist Kathryn Stott join with Ensemble 360 for a fantastic
nine days of music, including some four-hand and two-piano pieces with Tim Horton. In 2024. we are
delighted that cellist Steven Isserlls will be the Guest Curator.
Learning & Participation activity also resumes, with our composltion project for year 8s, Wecompose,
beginning during 2022123, and we have also selected five wind players mostly from backgrounds under-
represented in chamber music for Brldglng the Gap. We will be working with them during 2023-24 on
Wecompose as well as providing support through coaching and personal development to each musician
as we aim to change the face of chamber music and create a truly diverse ensemble that represents
modern-day Britain.
Financial Review 202112Z
Total income for the year was £514,58312020121: £330,054). Our Business Plan states our target of
achieving an income ratio of 40% sales income 135% public funding and grants125Yo individual giving.
The continuing impact of the pandemic on our activity, with live concerts with the public not beginning
until August 2021, was such the ratios were 25% sales income145% public funding and grants130%
individual giving. It is anticipated that soles income will form a higher percentage of income in 2022123.
Income ratio
2019120
Income ratio
2020121
Income ratio
2021122
Sales Income
Sale5 income
Sales incorne
Public funding and grants
Public funding and grants
Public funding and gr8nts
CJRS
UnderlyinE core expenditure remains Subject to tight budgetary control, overseen by the Finance &
Fundraising Committee. with expenditure kept to a minimum. Total expenditure for the year was
£468,90612020121: £262,406). Although this means a net income for the year of £45,677, we are still in
hallenging times, Wlth audiences being slower to return to live events than hoped, so this gives us a
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strong financial base from which to face the future and plan ahead. We have designated much of this
income into appropriate funds to see that purpose, with £15,000 being placed into the Lindsav
Foundation fund to support learning & participation, and E30,000 into the Future Festivals Fund.
Some of the Andrew McEwan Fund, which supports young people who wouldn't otherwise have the
opportunity to experience high quality live music-making, was used to support our new storybook
commission Izzy Gizmo, which premiered in October 2021, leaving a balance of £37,48112020121'.
£47,348). Successful fundraising for the Learning & Participation Fund meant that after in-year
expenditure £65,468 is carried forward into 202212312020121.. £31,960), which will be spent on project5
in the next couple of years that have been postponed due to the COVID-19 restrictions. Our Bridge Fund
supporting young musician5 under-represented in chamber music had some expenditure as we
recruited for a pilot weekend in early April 2022, with £20,900 to be used in 2022-24. The Lindsav
Foundation now stands at £46,099, which in 2022123 will 5UPPOrt learning and participation activity.
The net book value INBVI of the charity's piano is now a designated fund from which depreciation costs
are met, in recognition of the fact that the value of this asset is not part of the liquid general funds
readily available for use at the discretion of the Trustees. After depreciation charges for the year of
£6,388, the fund stands at £12,772.
The overall net position of income over expenditure shows a small increase in unrestricted general funds
of £9,762, with a year-end balance of £189,05412020121.. £179,292), which is in line with our reserves
policy. There is a net underlying increase in restricted and desiEnated funds of £35,915, which puts us in
a strong financial position at the Start of 2022123, and careful management during the year will ensure
that we are also a goinE concern in 2023124 and beyond.
The Finance and Fundraising Committee and full board each met four times during 2021/22, keepin8 a
close monitor on the organisation's financial health. The Risk Register was regularly reviewed
throughout 2021, with a significant update in early 2021, and an overhaul of all Governance
documentation is taking place in autumn 2022.
Reserves Policy
It is the policy of the charity to maintain unrestricted general funds, which are the free reserves of the
charity. Music in the Round needs reserves in the short term to cover possible cash flow problems
caused by having to commit to expenditure in advance of income or the late payment of significant box
office income or grants. Funds may also be required to reduce the impact of risks from the external
environment, for example a cut in funding from a key funder such as Arts Council England.
The charit$ aim is to maintain unrestricted funds as working capital to a level that represents
approximately four months, future expenditure1É160.0(X)-£200,0001 to aid cash flow during the quieter
months and finance its fundraising activities. The trustees have assessed the company's needs and
determined that this minimum is desiroble given the uncertainties that currently exist around public
funding. This will be reviewed annually against changes to the company's circumstances and activitv.
Unrestricted general funds held by the charity at 31 March 2022 were £189,054, which is in line with
this aim.
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Designated Funds
Unrestricted funds may be classed as 'desiBnated' and set aside by the trustee5 for a specific charitable
purpose, for example for a specific activity or project. Such decisions are made at board meetings and
minuted. Any designated funds are in addition to those required for four months, cost of future
expenditure. Trustees can also remove the designation of funds to release them back to unrestricted
funds should circumstance5 indicate this is appropriate.
Restricted Fund5
Funds provided to Music in the Round as grants or charitable donations for a specific purpose will be
identified separately in the accoLfnts. Care will be taken to ensure that such funds are only used for the
purpose for which they were provided, or renegotiated with the grant-making body should any project
adaptions be required in exceptional circumstances, such as a pandemic.
Risk Management
The trustees and staff team of Music in the Round Limited have worked together to identify the major
risks to which the charity is exposed, reviewed the current systems and policies that mitlBate the risks
and implemented a number of changes to further reduce the risks. The Finance & FLfndraising
Committee regularly reviews the risk register, at least twice each year, and seeks to constantly improve
the management of the charity. Specific risks associated with the COVID-19 pandemic were corbsidered,
planned for and added to the risk reBlSter, and these remain under review.
Governance, Organisational Structure and Management
Governlng document
Music in the Round is a company limited by guarantee governed by its Memorandum and Articles of
Association as amended on 11 February 2013. It is registered as a charity with the Charity Commission.
Members each agree to contribute £1 in the event of the charity winding up. There are currently 11
members.
Trustee Appointments and Reslgnations
The director5 of the company are the trustees of the charity. The trustees are all members of the
company. New directors of the company are appointed by the members. Trustees seNe a three-year
term of appointment and may be re-appointed up to a further two consecutive term5 of three years but
must then resign. There must be no fewer than three trustees but with no upper limit. Trustees are
appointed to maintain an appropriate balance of knowledge, skill and iJiver5ity.
In June 2021 the Chair, Mary Heyler, had to resign from the board for personal reasons. Vice Chair Jane
Ginsborg agreed to step up to be interim Chair to support the organisation through the ongoing
situation and application to ACE for NPO funding for 2023 onwards. A new, permanent Chair, Jenny
Dibden Stevens, was appointed in June 2022, with Jane reverting to her previous position of Vice Chair.
Page114
MUSIC
IN THE ROUND
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2022
We are very grateful to Mary for the time and support she gave to Music in the Round as Chair, and
continues to do so at a distance. We would like to note our huge appreciation of Jane for aEreeing to
Step up as interim Chair at such a crucial time for the organisation, and thank her for her dedication and
support for that year. A new trustee, Mark Sutherland. was appointed in June 2021 to replace Mary on
the board. Having been an external advisor to the Finance & Fundraising Committee, Mark was able to
swiftly support Music in the Round with his expertise at a time when it was needed.
In June 2022, Stella Mascarenhas-Keyes stepped back as a trustee, but is still involved with Music in the
Round as a volunteer at concerts and on an ACE Investment Principle Group. We also said farewell to
Judith Ennis after many years as a trustee, and we would like to offer a huge thanks for her support of
the organisation, especially her expertise on safeguardinE and staff appraisals. Three new trustees,
Jennifer Dibden Stevens, Cara McAlee5e and Sughra 8egum DL, joined the board at the same time,
making 11 trustees in total at the date of sigr*ing this report.
Inductlon and training of new trustees
New trustees are briefed on their legal obliEations under charity and company law, the content of the
Memorandum and Articles of Association, the current Business Plan and the financial affairs of the
Music in the Round. Prospective trustees meet the Chair, Chief Executive and staff, and are invited to
attend a Board meeting as obseThers before joining.
Organisatlonal structure and management
The Board of Trustees administers the charity. As at 31 March 2022 the Board comprised 10 trustees, of
whom 80Yo are female, IO% identify as disabled, IO% are neuro-divergent, 50% are under the age of 50,
30% do not identify as White British and 60% identify as heterosexual. The Board meets at least four
times a year Isix in 20201211, with other meetings to discuss particular issues arranged as required. The
advisory Finance & Fundraising Committee usually meets quarterly, chaired by trustee Jan Bonar, which
comprises three trustees, two members of the management team and an external advisor.
The Board appoints the Chief Executive, and delegates the role of appointing the staff to the Chief
Executive, who is responsible for the day-to-day management of the charity. The Chief Executive reports
to the Board on the financial and strategic position of Music in the Round, supported by the Head of
Programmes.
Organisatlonal developments during the year
In 2021122 we held four formal board meetings, including an extended board meeting in September
2021 to review the past few months and consider future plans. Music in the Round continues to be
engaged in an ongoing process of self-evaluation, in which we examine our vision, practice,
communication strategies, financial health, partnerships and governance.
Our Business Plan is the mechanism by which we articulate our values, ambitions, objectives and targets
for a given period, and is revised on an annual rolling basis to always be looking at least three years
ahead. Due to the ongoing pandemic, the current plan only covers April 2022- March 2023, and a Board
Away Doy in December 2022 will help to plan from 2023-26 and further ahead.
Pa8e | 15
MUSIC
IN THE ROUND
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2022
In response to ACE'S Four Investment Principles as part of its 10-year strategy, four groups comprising
trustees and staff were formed during the summer of 2021 to focus on the Four Principles. Each led by a
trustee, these groups are evolving into permanent committees to support Music in the Round's
development and ensure it responds to the ACE 2023-26 NPO requirements.
Public Benefit
When reviewing Music in the Round's objectives and activities and devising it5 future programme, the
Board of Directors confirms that it has referred to the Charity Commission's general guidance on public
benefit and complied with its duty under the Charities Act 2011.
The charity's aims and objectives are directed at the public at large- those who attend concerts around
the UK,. visitors to the website- and those who are part of our many learning & participation activities.
Our concerts in Sheffield and Barnsley are open to the public without restrirtion, and also include offers
for tickets for those aged under 35 as well as first-timers, students and disabled people with carers as
well as those in receipt of Universal Credit and PIP. In Sheffield we also liaise with Tickets for Good,
enabling NHS staff to attend concerts for very little cost.
Directors, responsiblllties
The Directors, being the trustees of the charity, are responsible for preparinE the Annual Report and the
financial statements in accordance with applicable law and United Kingdom Generally Accepted
Accounting Practice (UK GAAPI.
Company law require5 the Directors 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 the state of the charitable
company's incoming resource5 and application of resources, including its income and expenditure,
during the period.
In preparing those statements the directors are requifed to..
select suitable accounting policies and then apply them consistently
observe the methods and principles in the Charities SORP IFRS1021-
make judgement5 and estimates that are reasonable and prudent,.
state whether applicable UK accountinE Standards have been followed, subject to any material
departures disclosed and explained in the financial statements,.
prepare the financial Statements on the going concern basis unle55 it is inappropriate to
presume that the charity will continue in business.
The Directors are responsible for keeping proper accounting records which disclose with reasonable
accuracy at any time the financial position of the charitable company and to enable them to ensure the
financial statement5 comply with the Companies Act 2006. 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 breaches of law and regulations.
Page116
MUSIC
INTHEROUND
REPORT OF THE TRU5f£ES FOR THE YEAR ENDED 31 MARCH 2022
The financial statements have beèn prèparèd in accordance with the speclal provlslons of part Vll of the
Companies Act 2[¢5 relating to small entities.
By order of the board on 9 Dernber 2022
Jennifer Dlbden Steven5
Trustee and Chair of the Board
Page117
INDEPENDENT EXAMINER'S REPORTTO THE TRUSTEES
OF MUSIC IN THE ROUND
MUSIC
IN THE ROUND
I report to the charity trustees on my examination of the accounts of the company for the year ended 31
March 2022 which are set out on pages 19 to 28.
Responslblllties and basis of report
As the charity trustee5 of the company land also its directors for the purposes of company lawl you are
responsible for the preparation of the accounts in accordance with the requirements of the Companies
Act 20061'the 2006 Act'l.
Having satisfied myself that the account5 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
company's account5 a5 carried out under section 145 of the Charities Act 20111'the 2011 Act'l. In carrying
out my examination I have followed the Directions given by the Charity Commission under section
1451511bl of the 2011 Act.
Independent examiner's statement
Since the compan$ gr05s income exceeded £250,000 your examiner must be a member of a body listed
in section 145 of the 2011 Act. I confirm thot l am qualified to undertake the examination because l 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 cause to believe that in any material respect:
accounting records were not kept in respect of the company as required by section 386 of the 2006
Act,. or
the accounts do not accord with those records,. or
the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other
than any requirement that the accounts give a 'true and fair view, which is not a matter considered
as part of an independent examination- or
the accounts have not been prepared in accordance with the methods and principles of the
Statement of Recommended Practice for accounting and reporting by charities applicable to charitie5
preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK
and Republic of Ireland IFRS 1021.
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.
Philip Allsop FCA
BHP LLP
2 Rutland Park
Sheffield
S102PD
Dated=
Page118
Music in the Round Limited
Statement of Financial Activities {including Income and Expenditure Account)
Year ended 31 March 2022
Restrlcted
Income
funds
Unrestricted
funds
Total
2022
Total
2021
Note
Income
Donations and legacies
Income frorn charitable activities
Other trading activities
Investments
Other Income
318.690
118.454
4,301
508
265
72,365
391.055
118.454
4,301
508
265
296,580
5,964
41
175
27,294
Total Income
442,218
72.365
514,583
330.054
Empendrture
Charitable activities
Raising funds
387,319
24,113
57,474
444,793
24,113
253,593
8.813
io
Total expendSture
411.432
57,474
468,906
262,406
Net Income
30,786
14,891
45,677
67,648
Reconclllatlon of funds:
Total funds brought forward
498,284
108.958
607,242
539.594
Total funds carried forward
529,070
123,849
652,919
607,242
All income and expenditure derive from continuing activities.
The company ha5 no recognised gains or losses other than those Shown above.
Page 19
Musl¢ In the Round Llrnited
Statement of Flnanclal Position
Yeai ended 31 Maich 2022
2022
2021
FINed AsiÈts
Tan8lble
12
15.092
15.052
21.213
21,213
Current asyets
Stffk
Debtors
Cash 8t b?nk and In h2nd
5,040
73,978
616.937
4.705
11.944
602,220
13
695.955
618,869
Current Lrabilities
Creditors.. amounts fallin8 due within one year
14
58,128
32WO
Net current assrts
637.827
S86,029
T81 Asset$ Less Llabllltles
652,919
607,242
Net assèts
652,919
607.242
Thè Funds ofthe Charity
Restrirted funds
Unrestrlcted funds..
DesiÈnated fund5
General fund5
123,849
10&958
is
is
340,016
189,054
318,992
179,292
6S2.919
607.242
For the financial yearin questionlhe£omp8nywas entFtled to exemption under section 477 of the Comp8nies
Act 2006 re18tirt8 to small Companies. No members have required the compoDY to obtaln an audit of its
ounts lorthe yearln Question in accordance wlth sectlon 476 of the Companie5 Act 2006_
The directors atknawledÉetheirresp0nsibilityforccmplwngth the requlremènts of the Act with.respectto
atcounflng retorth andfor the preparation of the accounts.
These attount5 which have been prepared In accordance wlth the special provlsions relatln8 to Small cornpanie5
subject to the small companles reglme within Part 15 of the Companle$ Art 2006, were approved ènd authorised for
issue bythe board.
Jennlftt DNJden Stevens
Dlrertor
Date.. 9 December 2022
Company resistrjtion nurnber.. 18A0734
Page 20
Music in the Round Limited
Cashflow Statement
Year ended 31 March 2022
2022
2021
Note
Cash flow from operating activities
18
15,249
62,287
Cash flows from investin8 activities..
Interest received
Purchase of fixed assets
508
11.0401
175
Net cash used In Snvestlng actlvltles
15321
175
Net Increase Sn cash and cash equivalents
14,717
62,462
Cash and cash equivalents at l April
Cash and cash equlvalents at 31 Marth
602,220
616,937
539,758
602,220
Cash and cash equivalent5 consists of:
Cash at bank and in hand
616,937
602.220
Page 21
Music in the Round Limited
Notes to the Flnanclal Statements
Year ended 31 March 2022
I Summary of sl8nificant accountlng pollcles
(al GeftÈral Information and ba515 of preparatlon
Music in the Round is a registered Charity and a company limited by guarantee in England. In the event
of the charity bein6 wound up, the liability in respect of the guarantee is lirnited to £1 per member of
the charity. The address of the reElStered office is given in the charity information on page l of these
financial statements. The nature of the charity's operations and principal activities are set out in the
Trustees. Annual Report.
The charity constitute5 a public benefit entity as defined by FRS102. The financial statements have
been prepared in accordance with Accounting and Reporting by Charities.. Statement of Recommended
Practice applicable to Charities preparinÈ their accounts in accordance with the Financial Reporting
Standard applicable in the UK and Republic of Ireland IFRS 1021 issued in October 2019 and the
Companie5 Act 2006 and UK Generally Accepted Accounting Practice. Assets and liabilities are initially
recognised at historical cost unless Otherwise stated in the accounting policies.
The financial statements are prepared on a 8oin8 concern basi5 under the historical cost basi5.
The significant accounting policies applied in the preparation of these financial statements are Set out
below. These policies have been consistently applied to all years presented unless otherwise stated.
Ibl Tanglble flxed assets and dèpreciation
Tangible assets are depreciated by annyal instalments over their estimated useful lives at the following
rate5'.
Musical Instruments
Fixtures and fittinBs
Office equipment
IO% straight line
25% reducing balance
25% reducing balance
(¢1 Incomè and deferred Income
All incorne is Included in the Statement of Flnancial Aeiivities ISOFAI when the charity is le8ally entitled
to the income after any performance conditions have been met. the amount can be measured reliably
and it is probable that the income will be received.
Income received for restricted fund5 is subject to specific conditions imposed by the donor or has been
raised by the company for particular purposes. Designated funds comprise unrestricted funds that
have been set aside by trustees for particular purpose5.
Idl Expendlture
Expenditure is accounted for in the accounting period which it 15 incurred.
Resources expended are allocated to the particular activity where the Cost relates directly to that
activity. However, the cost of overall direction and overall costs of the central function are borne bv
the unrestricted fund.
Page 22
Music in the Round Limited
Notes to the Financlal Statements Icontinuedl
Year ended 31 March 2022
I Summary of 518nlllcant accountlng policiès continued
lel Stocks
Stock is valued at the lower of cost and net realisable value.
11) Debtors and credltors recelvable I payable within one year
Debtors and creditors with no stated interest rate and receivable OT payable within one year are
recorded at transaction price. Any losses arising from impairment are recognised in expenditure.
Igl Cash and cash Èquivalents
Cash and cash equivalents are basic financial assets and include cash in hand and deposlts held at ¢all
with banks.
Ihl Employee benefits
When employees have rendered service to the charity, short-term employee benefits to which the
employees are entitled are reco8ni5ed at the undi5counted amount expected to be paid in exchange
for that service.
111 Golng Concern
The financial statements have been prepared on a goinB concern ba515 as the trustees believe that no
material uncertainties exist. The trustees have considered the level of funds held and the expected
level of income and expenditure for 12 months from authorising these financial statements. The
budgeted income and expenditure is sufficient with the lèvel of reserves for the charity to be able to
continue as a Boing Concern.
The board have prepared forecasts and subjected these to sensitivity analysis which shows that they
have sufficient reserves to be able to continue for the foreseeable future. They will ¢ontinue to
monitor the impact on income and take appropriate action.
Page 23
Music in the Round Limited
Notes to the Financial Statements
Year ended 31 March 2022
2 Income from donatlons and legacie5
2022
Unrestricted
2022
Restricted
2022
Total
2021
Total
Gifts
Arts Council En8land NPO grant
Other grant51see note 201
114,407
145,594
58.689
42,571
156,978
145.594
88,483
108,986
145.S94
42,000
29,794
2022 total
318.690
72,365
391,055
296,580
2021 total
258,030
38,550
296.580
3 Income from Charitable actlvltles
2022
Unrestricted
2022
Restricted
2022
Total
2021
Total
Ticket sales & venue fees
Education income
105.512
12.942
105.512
12,942
5.797
167
2022 total
118,454
118,454
5,964
2021 total
5.964
5,964
4 Other Income
2022
Unrestricted
2022
Restricted
2022
Total
2021
Total
Sponsorship
Merchandisin8
2,600
1,701
2.600
1.701
41
2022 total
4.301
4,301
41
2021 total
41
41
5 Income from Investment5
2022
Unrestricted
2022
Restricted
2022
Total
2021
Total
Interest receivable
2022 total
508
508
508
508
175
175
2021 total
175
175
6 Other Income
2022
Unrestricted
2022
Restricted
2022
Total
2021
Total
HMRC Coronavirus Job Retention scheme
2022 total
265
265
265
265
27,294
27,294
2021 total
27,294
27,294
Page 24
Music in the Round Limlted
Notes to the Financial Statements
Year ended 31 March 2022
Expendlture on charltable attivities
2022
Unrestricted
2022
Restricted
2022
2021
Art15ts, venue and instrument hire
ArtlStic direction
Marketing
Learning & participation activltles
Staff
Governance (note 81
Administration
Operational costs
Depreciation
2022 total
153,503
39,587
193.090
41.113
9,817
23,299
13,075
143,720
2,891
11.890
716
7,072
253,593
39,341
39.341
17.887
168,868
3,650
11.541
3,255
7,161
444,793
17,887
168,868
3,650
11,541
3,255
7,161
387.319
57,474
2021 total
217.043
36,550
253,593
Governance costs and Independent Emaminer's remuneratlon
The independent examination fee for the year is £3,013 including irrecoverable VAT12021.'£2,8431.
Other Governance ¢osts total £637.
Trustees, and key management personnel remuneratlon and empenses
Thè Trustees consider the Key Management Personnel to comprise the Trustees, Chief Executive
and Head of ProgTamrnes.
One trustee was paid £1,000 for evaluation of a Learnin8 & Participation project and another had
travel expenses reimbursed totalling £3212021.. £nill
The total amount of all employee benefit5 received by key management personnel is £90,612
12021.. £66,809>
10 Costs of ralslng funds
2022
2021
Fundraising staff
Fundraising consultancy
Fundraising costs
18,000
200
5,913
24,113
5,661
3.152
8.813
11 Staff costs and employee beneflts
2022
2021
Wages and salaries
Social Security
Pension
173,226
9.733
3,908
186,867
140.732
6,186
2,463
149.381
The avera@e monthly number of employees was 8 members of staff, FTE 612021.. 8 staff, FfE 51.
Page 25
## **Music in the Round Limited**
## **Notes to the Financial Statements**
## **Year ended 31 March 2022**
**----- Start of picture text -----**
12 Fixed Assets - Tangible
Fixtures & Office
Piano fittings equipment Total
£ £ £ £
Cost
At 1 April 2021 63,875 9,087 21,673 94,635
Additions - - 1,040 1,040
At 31 March 2022 63,875 9,087 22,713 95,675
Depreciation
At 1 April 2021 44,715 9,078 19,629 73,422
Charge 6,388 2 771 7,161
At 31 March 2022 51,103 9,080 20,400 80,583
Net book value
At 31 March 2022 12,772 7 2,313 15,092
At 31 March 2021 19,160 9 2,044 21,213
13 Debtors 2022 2021
£ £
All amounts falling due within one year
Trade debtors 7,270 259
Other debtors - 1,538
Prepayments and accrued income 66,708 10,147
73,978 11,944
14 Creditors: Amounts falling due within one year 2022 2021
£ £
Trade creditors 4,747 7,544
Accruals 48,040 22,638
Taxation and social security 3,896 1,526
Deferred Income - 408
Other creditors 1,445 724
58,128 32,840
**----- End of picture text -----**
________________________________________________ **________________________________________________** ___
Page 26
Music in the Round Limited
Notes to the Flnanclal Statements
Year ended 31 March 2022
15 Movement in Funds
At
l Aprll
2021
Balance at
31 March
2022
Income Expènditure
Transfers
Unrestrlcted
General
Designated Piano Depreciation
Designated Lindsay Foundation
Designated Future Festivals Fund
Designated- Di8ltal Future Fund
Total unrestricted funds
179,292
19,160
31,099
228.733
40,000
498,284
442,218
1387.4561
16.3881
145.0001
189.054
12,772
46,099
246,145
35,000
529,070
15.000
30,000
112,5881
15,0001
1411,4321
442,218
Restrlcted
Andrew McEwan Fund
Bridge 2 Fund
Learning & Participation Fund
Mayfield Valley Arts Trust
Total restrlcted funds
47,348
24,400
31,960
5,250
108,958
63
19,9301
13,5001
19,0001
135.0441
157.4741
37,481
20,900
65.468
42.508
29.794
72.365
123,849
Total funds
607.242
514,583
1468,9061
652,919
At
l Aprll
2020
Balance at
31 March
2021
Income Empénditure
Transfers
Unrestricted
General
Designated Piano depreciation
Designated Lindsay Foundation
Designated Future Festivals Fund
Designated Digital Future Fund
170,024
25,548
31,099
205,978
223,736
1214,4681
16,3881
179,292
19,160
31.099
228,733
40,000
22,755
45.000
15.0001
Total unrèstricted funds
432.649
291,491
1225,8561
498,284
Restricted
Andrew McEwan Fund
Bridge 2 Fund
Learning & Participation Fund
Mayfield Valley Arts Trust
Total restrlcted funds
57,285
24,4CM)
25,260
63
iio,0001
47.348
24.400
31,960
5,250
108,958
8,500
30,000
38,563
11,8001
124.7501
136,5501
106.945
Total funds
539.594
330,054
1262,4061
607,242
Page 27
Music in the Round Limited
Notes to the Financial Statements
Year ended 31 March 2022
15 Movement in Funds continued
De5iKnated Funds
The Piano Depreciation Fund is a designated fund frorn which depreciation costs are met, in recognition of the fact
that the value of this asset 15 ntst part of the liquid general funds readily available for use at the discretion of the
Trustees.
The Lindsay Foundation funds Learning & Participation activity.
The Future Festivals Fund underwrites and Supports Music in the Round festivals in the longer term to enèble
forward planning in the event of any significant fluctuation of ticket revenue.
The Di8ltal Future Fund was established by Trustees during 2020121 and aims to futureproof the organi5ation by
supporting the ongoing creation of digital resources and activity, as an additional programrne strand.
Restrlcted Funds
The Andrew McEw8n Fund represents donations received from the Estate of Andrew McEwan and in his memory
to provide disadvèntaged children livin8 in Sheffield the opportunity to be introduced to music and rnusic
education.
The Bridge 2 fund represents income received toward5 our development scheme that provides performance
opportunitie5, training and business development for young musicians.
The Learning and Participation Fund represents income reeeived to support work including projects in schools, with
famllies and ehildren, and audience development aetivitv.
Mayfield Valley Arts Trust represents income received from the Trust to support work with children and young
people.
General funds
The general fund comprises monies that can be used in accordance with the charitable objects of the Charity at the
dlscretion of the Trustees.
Page 28
Music in the Round Limited
Notes to the Financial Statements
Year ended 31 March 2022
16 Analys15 of net assets between funds
Unrestrlcted
General
Deslgnated
Rèstrlcted
2022
Total
Fixed Assets
Cash at bank and in hand
Other current assets/liabilitie5
21,949
203,267
18,467
12.772
289,834
2,410
34,721
616,937
20,890
123.836
13
243.683
305,016
123,849
672,548
Unrestrlcted
General
Dèsignated
Re5tri¢ted
2021
Total
Fixed Assets
Cash at bank and in hand
Other current a5setslliabilities
2.053
196,468
119,2291
179,292
19.160
296,807
3,025
318.992
21,213
602,220
116,1921
607.242
108,945
13
108,958
17. Related Party Transactlons
There are no related party transactions in the year other than those payments to Trustees disclosed in
note 9.12021.. nil)
18. Reconciliatlon of operatlng Ideficltllsurplus to cashflows from operatlng actlvltles
2022
2021
Income for the year
Depreciation and amortisation
Interest received
Ilncreaselldecrease in debtors
Increaselldeereasel in creditors
Iincreasel/decrease in stock
45.677
7,161
15081
162.0341
25,288
13351
67.648
7.072
11751
28.092
140.2371
11131
Net cash flow from operating activities
15.249
62,287
19, Analysis of changes in net debt
At l Aprll
2021
At 31 March
Cashflows
2022
Cash at bank and in hand
602,220
14,717
616,937
Page 29
Music in the Round Limited
Notes to the Financial Statements
Year ended 31 March 2022
20. Grant Income
2022
2021
Arts Council England Natlonal Portfolio Or8ani5ation funding
145,594
145,594
Other Brants..
Art5 Council England Culture Rècovery Fund
Arts Council En8land project grant (Sounds of Now)
ERDF grant.. SME Restart & Recovery and Kiekst3rtin8 Touri5rn Packa
Church Burgesses Educational Foundation
Mayfield Valley Art5 Trust
R Walker Charitable Trust
Shèw Lands Trust
Sheffield Bluecoat & Mount Pleasant Education Foundation
Sheffield Town Trust
University of Sheffield Cultural Ecology Survey Grant
42,200
14,489
3,000
2,000
30,000
1,500
1,500
1,000
2.500
500
29.794
1,500
500
88.483
42,000
Total Grants Included in income
234,077
187.594
Page 30