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2021-06-30-accounts

THE MUSICSPACE TRUST (A COMPANY LIMITED BY GUARANTEE)

REPORTS AND FINANCIAL STATEMENTS

Accounts

FOR THE YEAR ENDED 30 JUNE 2021

UNAUDITED

Charity Number: 328311 Company Registered Number: 02411791

THE MUSICSPACE TRUST

REPORTS AND FINANCIAL STATEMENTS

YEAR ENDED 30 JUNE 2021

CONTENTS PAGE
Patrons 1
Legal and Administrative Details 2
Trustees’ Report 3-7
Independent Examiner’s Report 8
Statement of Financial Activities and Income and Expenditure Account 9
Balance Sheet 10
Notes to the Accounts 11-20

THE MUSICSPACE TRUST

REPORTS AND FINANCIAL STATEMENTS

YEAR ENDED 30 JUNE 2021

PATRONS Peter Gabriel Professor Leslie Bunt Sir Ernest Hall Sir John Kingman Andy Sheppard Sir Richard Stilgoe Sir Tom Stoppard

1

THE MUSICSPACE TRUST

LEGAL AND ADMINISTRATIVE DETAILS

YEAR ENDED 30 JUNE 2021

The MusicSpace Trust (“the charity” or “the charitable company”) was incorporated as a company limited by guarantee (company registration number 02411791) on 8 August 1989. It was registered with the Charity Commission (registration number 328311) on 24 August 1989. The MusicSpace Trust is governed by its Memorandum and Articles of Association.

BOARD OF TRUSTEES Ms Deborah England (Chairperson)
Mr Simon Cooper
Ms Kerrianne Gauld
Ms Kim Smith
Mrs Kate Pinfold
Mr James Prickett (Treasurer)
Ms Susan Dolby (appointed 23 March 2021)
SECRETARY Ms Deborah England
REGISTERED OFFICE The MusicSpace Trust
BS3 Community
The Southville Centre
Beauley Road
Bristol
BS3 1QG
DIRECTOR Ms Michele Scott
BANKERS CAF Bank Ltd
INDEPENDENT EXAMINER Joshua Kingston ACA
Burton Sweet Limited
The Clock Tower
5 Farleigh Court
Old Weston Road
Flax Bourton
Bristol
BS48 1UR
SOLICITORS Burges Salmon LLP
Narrow Quay House
Bristol
BS1 4AH
ENQUIRIES Ms Michele Scott
t: 0117 953 1731
e: info@musicspace.org
w: www.musicspace.org

2

YEAR ENDED 30 JUNE 2021

THE MUSICSPACE TRUST

TRUSTEES' REPORT

OBJECTIVES, ACTIVITIES AND PUBLIC BENEFIT

MusicSpace provides a community-based music therapy service for children, young people and adults throughout Bristol and the Southwest region. The Trust runs a centre in Bristol, where people come for music therapy. It also provides an extensive outreach service to mainstream and special schools, Early Years Centres, residential homes and to The Bristol Royal Hospital for Children. All of our charitable activities focus on the provision of music therapy. In furtherance of the MusicSpace aims, the Charity Trustees have complied with the duty in s.17 of the Charities Act 2011 to have due regard to the Charity Commission’s published general and relevant sub-sector guidance concerning the operation of the Public Benefit requirement under the act. The service is open to any member of the community and is thus providing a clear benefit to the public.

Mission Statement

STRUCTURE AND ORGANISATION

MusicSpace is governed by a Board of Trustees, which is responsible for ensuring that the charity is well-managed and abides by its charitable aims and objectives. The Trustees are also Directors of the charity. A person wishing to be admitted as a Trustee must be proposed for election by an existing member of the Board and receive an assenting vote of two thirds of the members present at a meeting of the Board. One quarter of the Trustees retire from office annually on the basis of seniority. Retiring Trustees are eligible for re-election. All new Trustees receive appropriate training. The Director of MusicSpace is appointed by the Trustees and has responsibility for the management of staff, the music therapy provision, finances and fundraising and for maintaining the legal and statutory requirements of the charity.

Music therapists, registered with the Health and Care Professions Council (HCPC), are employed by MusicSpace on full-time, part-time or sessional contracts, as appropriate, to provide music therapy. MusicSpace also employs a part-time finance administrator and a part time fundraiser. Volunteers are employed to provide assistance with fundraising and other matters.

3

TRUSTEES' REPORT

YEAR ENDED 30 JUNE 2021

THE MUSICSPACE TRUST

MUSIC THERAPY PROVISION

The work of MusicSpace is funded mainly through contracts with statutory, voluntary and private sector agencies such as Local Education Authorities, private HealthCare Trusts and the adoption support fund in addition to special and mainstream schools and academies and private individuals. Referrals for our service come from parents/carers, SENCO’s, social workers, NHS Consultant Paediatricians and other healthcare professionals such as speech and language therapists as well as self-referrals from individuals. As a charity we actively fundraise to be able to develop our outreach work in new areas in response to demand, provide subsidised sessions for families who are unable to afford the full cost of music therapy and to buy musical instruments and equipment for use in music therapy.

Covid-19 continued to have a major impact on the charity and our operations throughout the year. During the first lockdown we developed an online music therapy service. This enabled work that usually takes place at our Bristol centre to continue. Even though many of our clients were shielding we were able to offer them online music therapy sessions. We also delivered face to face sessions with children and young people whenever possible depending on lockdown restrictions. Our regular outreach work in schools, early years’ settings, residential homes and The Bristol Royal Hospital for Children continued to be affected by Covid-19. In July we resumed face to face work in Early Years settings (such as Opportunity Groups and Children’s Centres) and in one special school and provided online therapy sessions for a number of the schools we usually work in. The government flexi-furlough scheme enabled us to take more therapists off furlough to deliver these services. From September we were delivering more face to face sessions but also offering online sessions for special & mainstream schools and academies dependent on their Covid-19 restrictions. Work at Bristol’s Royal Hospital for Children resumed gradually from November, returning to 5 days per week from April 2021 thanks to funding from The Grand Appeal. Our therapists worked with children on the wards including Adolescent, Bone Marrow Transplant, Neurorehabilitation & Oncology.

The main area of our work we were unable to return to due to Covid restrictions was residential homes for adults with learning difficulties, physical disabilities and acquired head injury within Bristol, North Somerset, South Gloucestershire and Gloucestershire. Here, we offered online sessions whenever possible. Our development work in mainstream schools and our inter-generational project working with older adults in a residential setting and with primary aged children also had to remain on hold.

As a charity we have a commitment to provide our service to those who need it. We were able to adapt our way of working to incorporate online sessions, thereby enabling us to keep providing a music therapy service in spite of Covid-19. Our thanks to all those Charitable Trusts, Companies and groups who so generously supported our work during the year with donations and grants and helped to make this happen including: BBC Children in Need, The Blair Foundation, Bristol City Council, The Essex Trust, The Edward Gostling Foundation, The Lark Trust, Quartet, The Rausing Trust, Sounds of Song and The Verdon Smith Family Settlement. We are also incredibly grateful to the family of the late Kathleen Farrell for choosing MusicSpace as one of the beneficiaries of her estate. MusicSpace has written policies on the key aspects of our relationships with clients, including the safeguarding of children and vulnerable adults, confidentiality, general data protection regulation (GDPR) and health and safety. As a charity, we continue to develop our service in direct response to local demand and have an on-going commitment to provide music therapy to people who need it.

4

THE MUSICSPACE TRUST TRUSTEES' REPORT

YEAR ENDED 30 JUNE 2021

Feedback from parents and professionals has been very positive. Here are just a few examples:

• Music therapy has improved N’s communication skills and confidence within his educational setting and personal life, with his peers and adults. Music therapy allowed N to develop trust in adults and unfamiliar situations, which in turn helped to transform N from a timid, scared and shy boy to a self-assured, outgoing and positive boy. Simon has been wonderful in allowing N to express himself through music and sound, to develop these important life skills that will stay with him forever. Thank you Simon and MusicSpace for all of your help and guidance, you have really made a difference to one young boys life! (Lead Practitioner/Teacher and SENDco, BS3 Community).

• ‘The music can really soothe L. At times when she has been distressed, in pain or uncomfortable, the music has really helped her to calm down and settle her, even when it has felt like nothing else has worked. I really value your sessions and I have learned a lot about how to incorporate music and sound into L’s life, even with a hearing loss’ (parent of a baby at the Children’s Hospital).

• Music therapy provides a different avenue for children and young people to work through some of the challenging feelings they face during their time with us. Being able to offer this allows us to meet children where they are at and find a way of communicating that works for them (Consultant Clinical Psychologist, Paediatric Palliative Care and Paediatric Oncology Services).

• ‘E absolutely loves music therapy and I have noticed that her communication skills and social skills are improving rapidly and I believe that music therapy has played a huge role in that.’ (mother of 4- year-old with autism).

In addition to our in-house service we continued to deliver an outreach service, working in Early Years settings (such as children’s centres and Opportunity Groups), special, mainstream schools and academies and residential homes for adults with learning difficulties, physical disabilities and acquired head injury within Bristol, North Somerset, South Gloucestershire and Gloucestershire. We continued our work at The Bristol Royal Hospital for Children five days per week thanks to funding from The Grand Appeal. Our therapists worked with children on all of the wards including Adolescent, Bone Marrow Transplant, Neuro-rehabilitation & Oncology. We extended our Early Years work carrying out sessions for Little Treasures (part of South Glos Parents & Carers). We continued our work in residential homes in Gloucestershire for adults with a head injury and learning/physical disabilities and set up blocks of sessions in a number of residential homes for adults with learning/physical disabilities and for older aged adults in Bristol and North Somerset.

We had also been successful in developing new work in early years settings, special and mainstream schools and in two new areas; an intergenerational project working with older adults in a residential setting and with primary aged children and a project working with the probation service in Bristol.

MusicSpace has written policies on the key aspects of our relationships with clients, including the safeguarding of children and vulnerable adults, confidentiality, general data protection regulation (GDPR) and health and safety. As a charity, we continue to develop our service in direct response to local demand and have an on-going commitment to provide music therapy to people who need it.

5

TRUSTEES' REPORT

YEAR ENDED 30 JUNE 2021

THE MUSICSPACE TRUST

Statement of Trustees' Responsibilities

The trustees (who are also directors of The MusicSpace Trust for the purposes of company law) are responsible for preparing the Trustees’ Report (incorporating the strategic report and directors’ report) and the financial statements in accordance with applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102: The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom 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 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 that 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. 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.

Reserves Policy

In line with guidance issued by the Charity Commission, the Trustees have reviewed the Charity’s need for reserves. The balance of unrestricted free reserves (unrestricted funds less designated funds and fixed assets held for charity use) standing at £118,335 (2020: £84,726) approximates to 6.0 (2020: 4.0) months of Charity expenditure not met from restricted funds. The Trustees believe this to be adequate to ensure the effective and efficient operation of the Charity for the benefit of its clients, as the target is a level of 3-6 months’ expenditure not met from restricted funds in order to ensure that this is the case.

The Charity continues to depend on donations (restricted and unrestricted) to fund the development of its existing operations and to subsidise the provision of therapy services to certain private clients. Accordingly, the Charity will continue with fund-raising initiatives to safeguard its financial position.

Risk Policy

At Trustee meetings, the Trustees have examined major strategic, business, financial and operational risks which the Charity faces. The Charity operates a formal documented procedures manual to cover operational risks and to ensure compliance with best practice and legislation. Key financial risks are monitored bi-monthly with comparison of actual results against budgets.

6

YEAR ENDED 30 JUNE 2021

THE MUSICSPACE TRUST

TRUSTEES' REPORT

Financial Risk Management

The Charity finances its operations through the generation of cash from operating activities and has no interest rate exposure on financial liabilities. Liquidity risk is managed through forecasting the future cash flow requirements of the Charity and maintaining sufficient cash at bank balances.

Investment Policy

The Trustees having regard to the liquidity requirements of operating the Trust, and to the reserves policy, have operated a policy of keeping available funds in interest bearing specialist charity bank accounts.

Financial Review

During the year, MusicSpace received donations totalling £312,084 (2020: £45,447) which included a legacy of £237,554. These donations have been applied to the objects of the Charity.

Total income exceeded total expenditure by £260,879 in comparison to a deficit of £32,801 in 2020. Before depreciation on leasehold improvements £2,459 (2020: £4,522), the charity made a surplus of £258,420 (2020: deficit of £28,279).

The financial position at the end of the year was such that MusicSpace had sufficient liquid funds to cover its liabilities. However, MusicSpace remains dependent on grants, donations and fundraising events to maintain its future development activities.

The report of the Trustees has been prepared in accordance with the provisions applicable to companies subject to the small companies’ regime.

______ Deborah England Chairperson (Signed on behalf of the Board of Trustees)

Date ________

7

THE MUSICSPACE TRUST

INDEPENDENT EXAMINER'S REPORT YEAR ENDED 30 JUNE 2021

Independent examiner’s report to the trustees of The MusicSpace Trust (‘the Company’)

I report to the charity trustees on my examination of the accounts of the Company for the year ended 30 June 2021.

Responsibilities and basis of report

As the charity’s trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 (‘the 2006 Act’).

Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity’s accounts as carried out under section 145 of the Charities Act 2011 (‘the 2011 Act’). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5) (b) of the 2011 Act.

Independent examiner’s statement

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

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

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.

Signed Burton Sweet Limited Chartered Accountants The Clock Tower 5 Farleigh Court Flax Bourton, Bristol, BS48 1UR

Joshua Kingston ACA Date:

8

THE MUSICSPACE TRUST

STATEMENT OF FINANCIAL ACTIVITIES AND INCOME AND EXPENDITURE ACCOUNT

YEAR ENDED 30 JUNE 2021

Note
Income from:
• Legacies
• Donations and grants
Other trading activities
• Fundraising events
• Other income
Investment income
HMRC - Job retention scheme grant
Charitable activities:
• Therapy and supervision fees
TOTAL INCOME
Expenditure on:
Charitable activities:
• Music therapy
2
Raising funds
TOTAL EXPENDITURE
Net income/expenditure and
movement in funds
RECONCILIATION OF FUNDS
Total funds brought forward
10
TOTAL FUNDS CARRIED FORWARD
10		 Unrestricted
Funds
Restricted
Funds
Total Funds
2021
Total Funds
2020
£
£
£
£
237,554
-
237,554
-
15,107
59,423
74,530
45,447
1,037
-
1,037
1,815
-
-
-
215
27
-
27
231
54,836
-
54,836
29,753
181,492
-
181,492
180,966
490,053
59,423
549,476
258,427
(219,412)
(58,027)
(277,439)
(277,810)
(11,158)
-
(11,158)
(13,418)
(230,570)
(58,027)
(288,597)
(291,228)
259,483
1,396
260,879
(32,801)
87,185
61,592
148,777
181,578
346,668
62,988
409,656
148,777

There were no gains and losses in the year other than those included in the Statement of Financial Activities.

All the activities relate to continuing operations.

The comparative Statement of Financial Activities is shown in note 6.

The notes on pages 11 to 20 form part of these accounts

9

THE MUSICSPACE TRUST

BALANCE SHEET (REGISTRATION NUMBER 02411791)

YEAR ENDED 30 JUNE 2021

Note
FIXED ASSETS
Tangible assets
7
CURRENT ASSETS
Debtors and prepayments
8
Cash at bank and in hand
CURRENT LIABILITIES
Creditors: amounts falling due within one year
9
NET CURRENT ASSETS
NET ASSETS
FUNDS
Restricted
11
Unrestricted
11		 £
£
£
£
905
3,562
49,294
12,206
366,394
147,621
415,688
159,827
(6,937)
(14,612)
408,751
145,215
409,656
148,777
62,988
61,592
346,668
87,185
409,656
148,777
2021
2020

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies’ regime.

The company is exempt from the requirements relating to preparing audited accounts in accordance with section 477 of the Companies Act 2006. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476 of the Companies Act 2006. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies’ regime.

The financial statements were approved and authorised for issue by the Board of Trustees and were signed on its behalf by:

_____ Deborah England Trustee Date: ______

_____ James Prickett Trustee Date: ______

The notes on pages 11 to 20 form part of these accounts

10

THE MUSICSPACE TRUST NOTES TO THE ACCOUNTS

YEAR ENDED 30 JUNE 2021

1 ACCOUNTING POLICIES

BASIS OF ACCOUNTING

The financial statements have been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) issued in October 2019 and the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and the Companies Act 2006 and UK Generally Accepted Practice as it applies from 1 January 2019.

Going Concern

There are no material uncertainties about the charity's ability to continue as a going concern, despite the significant uncertainty being caused by the worldwide COVID-19 crisis. Whilst the Trustees expect there to be a significant impact on the charity's operations and reserves in the coming months and years, the charity has sufficient reserves to be able to meet these challenges.

INCOME

Charitable Activities

Income from therapy fees, teaching and workshops is included in income in the period in which the relevant event takes place.

Donations and Grants

Income from donations and grants is included in income when receivable, except as follows:

When donors specify that donations and grants are for particular restricted purposes, which do not amount to preconditions regarding entitlement, this income is included in income of restricted funds when receivable.

EXPENDITURE

Expenditure is included in the Statement of Financial Activities on an accruals basis, inclusive of any VAT that cannot be recovered.

Certain expenditure is directly attributable to specific activities and is included in those cost categories. Certain other costs, which are attributable to more than one activity, are apportioned across cost categories on the basis of an estimate of the proportion of time spent by staff on those activities.

Charitable activities include expenditure associated with the provision of music therapy and include both the direct costs and support costs relating to these activities.

Governance costs include those incurred in the governance of the charity and its assets and are primarily associated with constitutional and statutory requirement. Governance costs are included within support costs.

11

THE MUSICSPACE TRUST

NOTES TO THE ACCOUNTS

YEAR ENDED 30 JUNE 2021

FIXED ASSETS

Fixed assets are included at cost less depreciation. Assets with an individual value of £250 or more are capitalised on the balance sheet. A review for impairment of a fixed asset is carried out if events or changes in circumstances indicate that the carrying amount of the fixed asset may not be recoverable. Depreciation is calculated as to write off the cost of an asset, less its estimated residual value, over the estimated economic useful life as follows:

Leasehold improvements Term of lease
Pianos 10 years
Musical instruments (except pianos) 3 years
Office equipment - audio visual 3 years
- other 3 years
Motor vehicles 3 years

Depreciation is not provided on assets which have not yet been brought into use.

PENSION COSTS

The charity makes contributions to individual personal pension schemes entered into by employees. Pension costs are charged to the Statement of Financial Activities as incurred.

FUND ACCOUNTING

Funds held by the charity are either:

Further explanation of the nature and purpose of each fund is included in Note 10

Recognition of Liabilities

Liabilities are recognised once there is a legal or constructive obligation that commits the Charity to the obligation.

Taxation

As a registered Charity the entity is entitled to taxation exemptions on all its income and gains, properly applied for its charitable purposes.

12

THE MUSICSPACE TRUST

NOTES TO THE ACCOUNTS

YEAR ENDED 30 JUNE 2021

2 EXPENDITURE ON CHARITABLE ACTIVITIES

Music therapy expenses
Staff costs
Self-employed therapists' fees
Premises costs
Building depreciation
Equipment depreciation
Small instruments and music
Travel, subsistence and entertaining
Supervision
Therapists training
Support costs (see note 4)
Total charitable activities expenditure
Music therapy expenses
Staff costs
Self-employed therapists' fees
Premises costs
Building depreciation
Equipment depreciation
Small instruments and music
Travel, subsistence and entertaining
Supervision
Therapists training
Support costs (see note 4)
Total charitable activities expenditure		 Unrestricted
funds
£
179,474
16,255
10,137
2,459
-
-
1,538
2,040
525
6,984
219,412
Unrestricted
funds
£
192,068
19,962
10,051
4,522
-
60
2,702
1,985
465
7,411
239,226		 Restricted
funds
£
56,480
-
-
-
528
221
-
-
-
798
58,027
Restricted
funds
£
37,553
-
-
-
343
335
-
-
-
353
38,584		 Total
2021
£
235,954
16,255
10,137
2,459
528
221
1,538
2,040
525
7,782
277,439
Total
2020
£
229,621
19,962
10,051
4,522
343
395
2,702
1,985
465
7,764
277,810		 Total
2020
£
229,621
19,962
10,051
4,522
343
395
2,702
1,985
465
7,764
277,810
Total
2019
£
241,388
32,085
10,343
4,925
-
1,034
4,319
2,645
2,372
6,909
306,020

Expenditure does not involve any grant making activities

Each self-employed therapist has a contract with MusicSpace to provide music therapy services

3 NET INCOME / (EXPENDITURE)

This is stated after charging:

Depreciaton
Independent examiner's fee		 2021
£
2,987
832
3,819		 2020
£
4,865
800
5,665

Aggregate donations from Trustees, key management personnel and other related parties were £NIL(2020: £NIL).

13

THE MUSICSPACE TRUST

NOTES TO THE ACCOUNTS

YEAR ENDED 30 JUNE 2021

4 SUPPORT COSTS

Governance costs:
• Audit and accountancy
• Legal and professional
Administration travelling
Printing and photocopying
Postage and carriage
Communications
Office stationery
Computer and software expenses
Insurance
Advertising
Sundry
Bank charges
Governance costs:
• Audit and accountancy
• Legal and professional
Administration travelling
Printing and photocopying
Postage and carriage
Communications
Office stationery
Computer and software expenses
Insurance
Advertising
Sundry
Bank charges		 Unrestricted
funds
£
832
1,587
-
-
62
1,044
359
826
782
29
1,385
78
6,984
Unrestricted
funds
£
800
2,278
17
515
3
902
290
694
730
19
1,103
60
7,411		 Restricted
funds
£
-
-
-
-
-
-
-
706
-
-
92
-
798
Restricted
funds
£
-
-
-
-
-
-
-
333
-
-
20
-
353		 Total
2021
£
832
1,587
-
-
62
1,044
359
1,532
782
29
1,477
78
7,782
Total
2020
£
800
2,278
17
515
3
902
290
1,027
730
19
1,123
60
7,764		 Total
2020
£
800
2,278
17
515
3
902
290
1,027
730
19
1,123
60
7,764
Total
2019
£
780
2,288
12
-
93
847
366
1,030
695
33
705
60
6,909

14

THE MUSICSPACE TRUST

NOTES TO THE ACCOUNTS

YEAR ENDED 30 JUNE 2021

5 STAFF COSTS AND NUMBERS

Wages and salaries
Pension
Social Security costs		 2021
£
226,070
7,017
13,809
246,896		 2020
£
220,798
6,885
13,465
241,148

None of the Board of Trustees received any emoluments or reimbursement of expenses in respect of their services to the Trust in the current or previous year, and no employee received remuneration of £60,000 or above.

The key management team is considered to be the trustees and director. The total aggregate employment benefits received by key management personnel were £63,650 (2020: £62,704).

The average number of staff (headcount) during the year was 12 (2020: 12).

15

THE MUSICSPACE TRUST

NOTES TO THE ACCOUNTS

YEAR ENDED 30 JUNE 2021

6 COMPARATIVE STATEMENT OF FINANCIAL ACTIVITIES AND INCOME AND EXPENDITURE ACCOUNT

INCOME
Income from generated funds
Voluntary income
• Donations
Activities for generating funds
• Fundraising events
• Other income
Investment income
HMRC - Job retention scheme grant
Income from charitable activities
Therapy and supervision fees
TOTAL INCOME
EXPENDITURE
Charitable activities
Music therapy
Governance costs
TOTAL EXPENDITURE
Net movement in funds
RECONCILIATION OF FUNDS
Total funds brought forward
TOTAL FUNDS CARRIED FORWARD		 Unrestricted
Funds
£
16,741
1,815
215
231
29,753
180,966
229,721
(239,226)
(13,418)
(252,644)
(22,923)
110,108
87,185		 Restricted
Funds
£
28,706
-
-
-
-
-
28,706
(38,584)
-
(38,584)
(9,878)
71,470
61,592		 Total Funds
2020
£
45,447
1,815
215
231
29,753
180,966
258,427
(277,810)
(13,418)
(291,228)
(32,801)
181,578
148,777

16

THE MUSICSPACE TRUST

NOTES TO THE ACCOUNTS

YEAR ENDED 30 JUNE 2021

7 FIXED ASSETS

Cost
At 1 July 2020
Additions
At 30 June 2021
Depreciation
At 1 July 2020
Charge for the year
At 30 June 2021
Net book value
At 30 June 2021
At 30 June 2020
8
DEBTORS AND PREPAYMENTS
Trade debtors for therapy fees
Accrued income
Prepayments and other debtors
9
CREDITORS
Trade creditors
Taxation and social security
Accruals and deferred income
Other creditors		 Leasehold
improvements
£
225,553
-
225,553
223,094
2,459
225,553
-
2,459		 Musical
instruments
£
56,117
-
56,117
56,117
-
56,117
-
-		 Office
equipment
£
79,629
330
79,959
78,526
528
79,054
905
1,103
2021
£
31,458
17,632
204
49,294
2021
£
776
3,930
875
1,356
6,937		 Total
£
361,299
330
361,629
357,737
2,987
360,724
905
3,562
2020
£
12,118
-
88
12,206
2020
£
171
2,350
9,677
2,414
14,612

17

THE MUSICSPACE TRUST

NOTES TO THE ACCOUNTS YEAR ENDED 30 JUNE 2021

10 ANALYSIS OF MOVEMENT OF FUNDS

Restricted Funds
Therapy project funds
Musical equipment fund
Unrestricted funds
General funds
Designated funds:
Building fund
Succession fund
Client fund
Total funds
Restricted Funds
Therapy project funds
Musical equipment fund
Unrestricted funds
General funds
Total funds		 At 1 July 2020
£
45,259
16,333
61,592
87,185
-
-
-
148,777
At 1 July 2019
£
54,260
17,210
71,470
110,108
181,578		 Income
£
59,273
150
59,423
261,053
190,000
20,000
19,000
549,476
Income
£
28,706
-
28,706
229,721
258,427		 Expenditure
£
(54,910)
(3,117)
(58,027)
(229,903)
-
-
(667)
(288,597)
Expenditure
£
(37,707)
(877)
(38,584)
(252,644)
(291,228)		 At 30 June 2021
£
49,622
13,366
62,988
118,335
190,000
20,000
18,333
409,656
At 30 June 2020
£
45,259
16,333
61,592
87,185
148,777

Name of restricted fund

Description, nature and purposes of the fund

Therapy projects fund Musical equipment fund

For the provision of music therapy for children and young people For musical instruments and equipment

Name of unrestricted fund

Description, nature and purposes of the fund

General funds

The 'free reserves' after allowing for all designated funds

Designated Funds: Building fund Succession fund Client fund

Funds allocated towards the costs of a new building or lease For the costs of bringing in a new administrator and HR support To support music therapy for people who are unable to access funding for therapy and who are unable to afford to pay the full costs

18

THE MUSICSPACE TRUST

NOTES TO THE ACCOUNTS YEAR ENDED 30 JUNE 2021

11 ANALYSIS OF NET ASSETS BETWEEN FUNDS

As at 30 June 2021

Restricted funds
Therapy project funds
Music equipment funds
Unrestricted funds
General funds
Designated funds:
Building fund
Succession fund
Client fund
Total funds
As at 30 June 2020
Restricted funds
Therapy project funds
Music equipment funds
Unrestricted funds
General funds
Total funds		 Fixed
Assets
£
905
-
905
-
-
-
-
-
905
Fixed
Assets
£
1,103
-
1,103
2,459
2,459
3,562		 Other
Net Assets
£
48,717
13,366
62,083
118,335
190,000
20,000
18,333
346,668
408,751
Other
Net Assets
£
44,156
16,333
60,489
84,726
84,726
145,215		 Total
£
49,622
13,366
62,988
118,335
190,000
20,000
18,333
346,668
409,656
Total
£
45,259
16,333
61,592
87,185
87,185
148,777

The free reserves of the charity as at 30 June 2021 are considered to be £118,335 (2020: £84,726).

19

THE MUSICSPACE TRUST NOTES TO THE ACCOUNTS

YEAR ENDED 30 JUNE 2021

12 MEMBERS

The Charity is incorporated as a company limited by guarantee having no share capital and, in accordance with the Memorandum of Association, every member is liable to contribute the sum of £1 in the event of the Company being wound up. At 30 June 2021 there were 6 (2020: 6) members.

13 COMMITMENTS UNDER OPERATING LEASE

At 30 June 2021 the Charity is committed to make payments in the next year under non-cancellable operating leases as set out below:

Operating lease which expires:
Within 1 year
Between 2 and 5 years
After 5 years		 2021
2020
£
£
6,682
6,682
5,012
11,694
-
-
11,694
18,376
Land & Buildings

Operating lease payments represent rentals payable by the Charity for the office and music therapy rooms in Southville, Bristol. There is a break clause in the lease every five years on the anniversary of the date the lease agreement was signed.

20