## **THE MUSICSPACE TRUST** (A COMPANY LIMITED BY GUARANTEE)
## REPORTS AND FINANCIAL STATEMENTS
## Accounts
FOR THE YEAR ENDED 30 JUNE 2022
## UNAUDITED
**Charity Number: 328311 Company Registered Number: 02411791**
## **THE MUSICSPACE TRUST**
## **REPORTS AND FINANCIAL STATEMENTS**
## **YEAR ENDED 30 JUNE 2022**
|**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**
## **PATRONS**
## **YEAR ENDED 30 JUNE 2022**
**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 2022**
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_(Resigned 19 July 2022)_|
||Mr James Prickett (Treasurer)|
||Ms Susan Dolby|
|**SECRETARY**|Ms Deborah England|
||Ms Kim Smith_(Appointed 20 July 2021)_|
|**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 BSc 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 2022**
## **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**
- To deliver an excellent and comprehensive music therapy service, accessible to all who need it.
- To develop and support the widest possible application of music therapy.
- To maintain the high quality of the therapy provided through regular monitoring and evaluation.
- To be recognised as a leading provider of music therapy.
- To contribute to training and research initiatives, which will advance the understanding and delivery
- of effective music therapy.
## **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 2022**
## **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 Community 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 significant impact on the charity and our operations. All of our work with children and young people in Early Years’ settings and schools resumed, although we lost 87 days of music therapy sessions from staff and client sickness during the year mainly due to Covid-19. In spite of this, the MusicSpace team worked with over 776 people, including 395 new children & young people and delivered more than 6,500 music therapy sessions both at our centre and in a range of locations across the region. Thanks to grants from BBC Children in Need, The Lark Trust and The Radcliffe Trust, we were able to see an increased number of children & young people at our Bristol centre including those with autism, cerebral palsy and/or life limiting conditions. We completed the second year of a 3-year project supported by BBC Children in Need enabling us to provide heavily subsidised blocks of 10 music therapy sessions for 15 children & young people each week at our Bristol centre. The sessions are aimed at developing three key areas: communication, confidence & self-esteem and listening & concentration. Feedback was incredibly positive throughout the project with 95% of parents/carers reporting an improvement in their child in these three areas. During the year there was a noticeable increase in demand for sessions for children and young people experiencing challenges with their mental health due to Covid-19 and for young children and young people with ADHD. We continued to offer online sessions as an option for our clients, a service we developed during the first Covid-19 lockdown.
It took until January 2022 for all of our work in residential homes for adults with learning difficulties, physical disabilities and acquired head injury within Bristol, North Somerset and Gloucestershire to resume; although again sessions were affected when the homes had to quarantine due to Covid-19. Work at Bristol’s Royal Hospital for Children continued 5 days per week thanks to funding from The Grand Appeal. Our therapists worked with children on the wards including Adolescent, Bone Marrow Transplant, Neuro-rehabilitation & Oncology. Development work gradually resumed, with new work starting in mainstream primary, secondary and special schools in Bristol, North Somerset and South Gloucestershire in addition to a residential home for young adults in South Gloucestershire.
As a charity we have a commitment to provide our service to those who need it. 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 Lark Trust, The Radcliffe Trust 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 2022**
Feedback from parents and professionals has been very positive. Here are just a few examples:
_• ‘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’ (parent of a 4-year-old with autism)_
_• ‘The music therapy sessions are one of the few things that he's happy to do where he's connecting with someone else and learning to trust and communicate’ (parent of a 10-year-old with autism)_
_• 'Since attending music therapy sessions S can recognise when he is about to get upset and frequently uses the piano to help him calm himself down and self-regulate’ (parent of a 9-year-old with possible autism and, difficulties in managing their feelings)'_
_• ‘B has really been enjoying his sessions with you and today was such a huge highlight. It was heart-warming that he got this experience and honestly he would not have even considered this a few months ago. His confidence is growing and he's slowly but proudly starting to believe in himself and grow with his confidence’ (parent of a 12-year-old with ADHD)_
_• 'As a doctor looking after children with cancer who spend significant periods of time in hospital I regularly observe the benefits of music therapy for my patients. Music therapy brings joy and our hope is that they will remember these happy times rather than the unpleasant side effects and procedures that they endure. For many children it provides an outlet to express their feelings and frustration’ (Consultant in Paediatric Leukaemia and Aftercare-TYA South West Cancer Service Lead Clinician_
_• 'It is really lovely to see my son engaging positively. It gives him a huge boost. Music therapy is helping unlock and channel his anger and frustration. It is magical and a privilege to see. I asked him what he wanted to say. I thought he’d say music is fun or similar. What he actually said doesn’t sound like a 9 year old but it does sound like him’: “Claire has helped me calm my inner self.” (parent of a 9 year old, after 101 days in isolation)_
_• 'Music therapy is an essential part of neurorehabilitation for patients and their families. Music and singing is often the easiest and most successful way of regaining use of speech, voice and interaction following an acquired brain injury. This spans all age levels from babies to teenagers, and all levels, from prolonged disorders on consciousness to high level cognitive communication disorders.’ (Lead Neurologic Speech and Language Therapist)_
5
**YEAR ENDED 30 JUNE 2022**
## **THE MUSICSPACE TRUST**
## **TRUSTEES' REPORT**
## **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 £89,900 (2021: £118,335) approximates to 3.8 (2021: 6.2) 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.
## **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 £33,252 (2021: £366,920) which included a legacy of £Nil (2021: £237,554). These donations have been applied to the objects of the Charity.
Total expenditure exceeded total income by £46,154 in comparison to a surplus of £260,879 in 2021. Before depreciation on leasehold improvements £Nil (2021: £2,459), the charity made a deficit of £46,154 (2021: surplus of £263,338).
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.
6
**THE MUSICSPACE TRUST TRUSTEES' REPORT**
**YEAR ENDED 30 JUNE 2022**
## **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:
- select suitable accounting policies and then apply them consistently;
- observe the methods and principles in the Charities SORP;
- make judgements and accounting estimates that are reasonable and prudent;
- state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business.
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.
________________________ Deborah England Chairperson (Signed on behalf of the Board of Trustees)
Date ____________________
7
## **THE MUSICSPACE TRUST**
## **INDEPENDENT EXAMINER'S REPORT**
## **YEAR ENDED 30 JUNE 2022**
## **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 2022.
## **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:
- 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 charities preparing their accounts in accordance with the Financial Reporting
- Standard applicable in the UK and Republic of Ireland (FRS 102).
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
Joshua Kingston BSc ACA Burton Sweet Limited Chartered Accountants The Clock Tower 5 Farleigh Court
Date:
8
## **THE MUSICSPACE TRUST**
## **STATEMENT OF FINANCIAL ACTIVITIES AND INCOME AND EXPENDITURE ACCOUNT YEAR ENDED 30 JUNE 2022**
**----- Start of picture text -----**
Unrestricted Restricted Total Funds Total Funds
Funds Funds 2022 2021
Note £ £ £ £
Income from:
Donations and legacies
-
• Legacies (248) (248) 237,554
• Donations and grants 3,728 27,385 31,113 74,530
-
• HMRC - Job retention scheme grant 2,387 2,387 54,836
Other trading activities
-
• Fundraising events 1,077 1,077 1,037
Investment income 210 - 210 27
Charitable activities:
-
• Therapy and supervision fees 242,896 242,896 181,492
TOTAL INCOME 250,050 27,385 277,435 549,476
Expenditure on:
Charitable activities:
• Music therapy 2 (286,596) (36,721) (323,317) (277,439)
-
Raising funds (272) (272) (11,158)
TOTAL EXPENDITURE (286,868) (36,721) (323,589) (288,597)
Net income/(expenditure) and
movement in funds 3 (36,818) (9,336) (46,154) 260,879
RECONCILIATION OF FUNDS
Total funds brought forward 10 346,668 62,988 409,656 148,777
TOTAL FUNDS CARRIED FORWARD 10 309,850 53,652 363,502 409,656
**----- End of picture text -----**
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 (COMPANY REGISTRATION NUMBER 02411791) YEAR ENDED 30 JUNE 2022**
**----- Start of picture text -----**
2022 2021
Note £ £ £ £
FIXED ASSETS
Tangible assets 7 1,751 905
CURRENT ASSETS
Debtors and prepayments 8 42,509 49,294
Cash at bank and in hand 327,826 366,394
370,335 415,688
CURRENT LIABILITIES
Creditors: amounts falling due within one year 9 (8,584) (6,937)
NET CURRENT ASSETS 361,751 408,751
NET ASSETS 363,502 409,656
FUNDS
Restricted Funds 11 53,652 62,988
Unrestricted Funds 11 309,850 346,668
363,502 409,656
**----- End of picture text -----**
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 James Prickett Trustee Trustee Date: ________________________ 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 2022**
## **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.
The charity is a public benefit entity as defined under FRS 102.
## **Going Concern**
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 given to the charity must be used in future accounting periods, the income is deferred until those periods.
- when donors impose conditions that have to be fulfilled before the charity becomes entitled to use such income, the income is deferred and not included in income until the pre-conditions for use have been met.
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 2022**
## **ACCOUNTING POLICIES (continued) 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:
- **unrestricted general funds** - these are funds which can be used in accordance with the charitable objects at the discretion of the Trustees;
- **unrestricted designated funds** - these are funds which the Trustees have decided at their discretion to set aside to use for a specific purpose;
- **restricted funds** - these are funds that can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in 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.
## **DEBTORS**
Trade and other debtors are recognised at the settlement amount due after any trade discount offered.
Prepayments are valued at the amount prepaid net of any trade discounts.
12
**THE MUSICSPACE TRUST NOTES TO THE ACCOUNTS**
**YEAR ENDED 30 JUNE 2022**
## **ACCOUNTING POLICIES (continued) CASH**
Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.
## **2 EXPENDITURE ON CHARITABLE ACTIVITIES**
|**Music therapy expenses**
Staff costs
Self-employed therapists' fees
Premises costs
Equipment depreciation
Small instruments and music
Travel, subsistence and entertaining
Supervision
Therapists training
Support costs (see note 4)
**Total charitable activities expenditure**
**Prior year comparatives**
**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**
**£**
227,458
26,312
12,319
79
72
3,896
2,470
3,596
10,394
**286,596**
**Unrestricted**
**funds**
**£**
179,474
16,255
10,137
2,459
-
-
1,538
2,040
525
6,984
**219,412**|**Restricted**
**funds**
**£**
35,031
-
-
659
1,031
-
-
-
-
**36,721**
**Restricted**
**funds**
**£**
56,480
-
-
-
528
221
-
-
-
798
**58,027**|**Total**
**2022**
**£**
262,489
26,312
12,319
738
1,103
3,896
2,470
3,596
10,394
**323,317**
**Total**
**2021**
**£**
235,954
16,255
10,137
2,459
528
221
1,538
2,040
525
7,782
**277,439**|
|---|---|---|---|
Expenditure does not involve any grant making activities
Each self-employed therapist has a contract with MusicSpace to provide music therapy services
13
## **THE MUSICSPACE TRUST NOTES TO THE ACCOUNTS**
## **YEAR ENDED 30 JUNE 2022**
## **3 NET INCOME / (EXPENDITURE)**
This is stated after charging:
|Depreciaton
Independent examiner's fee - current year
Independent examiner's fee - under accrued previous year|**2022**
**£**
738
1,200
42
**1,980**|**2021**
**£**
2,987
832
-
**3,819**|
|---|---|---|
Aggregate donations from Trustees, key management personnel and other related parties were £NIL(2021: £NIL).
## **4 SUPPORT COSTS**
|Governance costs:
• Independent examiner's fee
• Legal and professional
Postage and carriage
Communications
Office stationery
Computer and software expenses
Insurance
Advertising
Sundry
Bank charges
Governance costs:
• Independent examiner's fee
• 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**
**£**
1,242
3,655
3
975
175
1,480
940
643
1,185
96
**10,394**
**Unrestricted**
**funds**
**£**
832
1,587
-
-
62
1,044
359
826
782
29
1,385
78
**6,984**|**Restricted**
**funds**
**£**
-
-
-
-
-
-
-
-
-
-
**-**
**Restricted**
**funds**
**£**
-
-
-
-
-
-
-
706
-
-
92
-
**798**|**Total**
**2022**
**£**
1,242
3,655
3
975
175
1,480
940
643
1,185
96
**10,394**
**Total**
**2021**
**£**
832
1,587
-
-
62
1,044
359
1,532
782
29
1,477
78
**7,782**|
|---|---|---|---|
14
## **THE MUSICSPACE TRUST**
## **NOTES TO THE ACCOUNTS**
## **YEAR ENDED 30 JUNE 2022**
## **5 STAFF COSTS AND NUMBERS**
|Wages and salaries
Pension
Social Security costs|**2022**
**£**
240,706
7,125
14,658
**262,489**|**2021**
**£**
226,070
7,017
13,809
**246,896**|
|---|---|---|
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 £65,343 (2021: £63,650).
The average number of staff (headcount) during the year was 12 (2021: 12).
15
## **THE MUSICSPACE TRUST**
## **NOTES TO THE ACCOUNTS**
## **YEAR ENDED 30 JUNE 2022**
## **6 COMPARATIVE STATEMENT OF FINANCIAL ACTIVITIES AND INCOME AND EXPENDITURE ACCOUNT**
|**INCOME**
**Income from generated funds**
Donations and legacies
• Legacies
• Donations and grants
• HMRC - Job retention scheme grant
Other trading activities
• Fundraising events
Investment income
Charitable activities:
• Therapy and supervision fees
**TOTAL INCOME**
**Expenditure on:**
Charitable activities:
• Music therapy
Raising funds
**TOTAL EXPENDITURE**
**Net income/(expenditure) and**
**movement in funds**
**RECONCILIATION OF FUNDS**
Total funds brought forward
**TOTAL FUNDS CARRIED FORWARD**|**Unrestricted**
**Funds**
**£**
237,554
15,107
54,836
1,037
27
181,492
**490,053**
(219,412)
(11,158)
**(230,570)**
259,483
87,185
**346,668**|**Restricted**
**Funds**
**£**
-
59,423
-
-
-
-
**59,423**
(58,027)
-
**(58,027)**
1,396
61,592
**62,988**|**Total Funds**
**2021**
**£**
237,554
74,530
54,836
1,037
27
181,492
**549,476**
(277,439)
(11,158)
**(288,597)**
260,879
148,777
**409,656**|
|---|---|---|---|
16
## **THE MUSICSPACE TRUST**
## **NOTES TO THE ACCOUNTS**
## **YEAR ENDED 30 JUNE 2022**
|**7**
**FIXED ASSETS**
**Cost**
At 1 July 2021
Additions
At 30 June 2022
**Depreciation**
At 1 July 2021
Charge for the year
At 30 June 2022
**Net book value**
At 30 June 2022
At 30 June 2021
**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
225,553
-
225,553
-
-|**Musical**
**instruments**
**£**
56,117
-
56,117
56,117
-
56,117
-
-|**Office**
**equipment**
**£**
79,959
1,584
81,543
79,054
738
79,792
1,751
905
**2022**
**£**
41,696
-
813
**42,509**
**2022**
**£**
1,774
4,076
1,200
1,534
**8,584**|**Total**
**£**
361,629
1,584
363,213
360,724
738
361,462
1,751
905
**2021**
**£**
31,458
17,632
204
**49,294**
**2021**
**£**
776
3,930
875
1,356
**6,937**|
|---|---|---|---|---|
17
## **THE MUSICSPACE TRUST**
## **NOTES TO THE ACCOUNTS**
## **YEAR ENDED 30 JUNE 2022**
|**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
Designated funds:
Building fund
Succession fund
Client fund
**Total funds**|**At 1 July 2021**
**£**
49,622
13,366
62,988
118,335
190,000
20,000
18,333
**409,656**
**At 1 July 2020**
**£**
45,259
16,333
61,592
87,185
-
-
-
**148,777**|**Income**
**£**
27,385
-
27,385
257,745
17,255
-
50
**302,435**
**Income**
**£**
59,273
150
59,423
261,053
190,000
20,000
19,000
**549,476**|**Expenditure**
**£**
(32,172)
(4,549)
(36,721)
(285,075)
(26,793)
-
-
**(348,589)**
**Expenditure**
**£**
(54,910)
(3,117)
(58,027)
(229,903)
(667)
**(288,597)**|**At 30 June 2022**
**£**
44,835
8,817
53,652
91,005
180,462
20,000
18,383
**363,502**
**At 30 June 2021**
**£**
49,622
13,366
62,988
118,335
190,000
20,000
18,333
**409,656**|
|---|---|---|---|---|
## **Name of restricted fund**
## **Description, nature and purposes of the fund**
Therapy projects fund Musical equipment fund
## **Name of unrestricted fund**
General funds
Designated Funds: Building fund Succession fund Client fund
For the provision of music therapy for children and young people For musical instruments and equipment
## **Description, nature and purposes of the fund**
The 'free reserves' after allowing for all designated funds
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 2022**
## **11 ANALYSIS OF NET ASSETS BETWEEN FUNDS**
## **As at 30 June 2022**
|**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 2021**
**Restricted funds**
Therapy project funds
Music equipment funds
**Unrestricted funds**
General funds
Designated funds:
Building fund
Succession fund
Client fund
**Total funds**|**Fixed**
**Assets**
**£**
174
472
**646**
1,105
-
-
-
**1,105**
**1,751**
**Fixed**
**Assets**
**£**
905
-
**905**
-
-
-
-
**-**
**905**|**Other**
**Net Assets**
**£**
44,661
8,345
**53,006**
89,900
180,462
20,000
18,383
**308,745**
**361,751**
**Other**
**Net Assets**
**£**
48,717
13,366
**62,083**
118,335
190,000
20,000
18,333
**346,668**
**408,751**|**Total**
**£**
44,835
8,817
**53,652**
91,005
180,462
20,000
18,383
**309,850**
**363,502**
**Total**
**£**
49,622
13,366
**62,988**
118,335
190,000
20,000
18,333
**346,668**
**409,656**|
|---|---|---|---|
The free reserves of the charity as at 30 June 2022 are considered to be £89,900 (2021: £118,335).
19
**THE MUSICSPACE TRUST NOTES TO THE ACCOUNTS YEAR ENDED 30 JUNE 2022**
## **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 2022 there were 6 (2021: 6) members.
## **13 COMMITMENTS UNDER OPERATING LEASE**
At 30 June 2022 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|**2022**
**2021**
**£**
**£**
14,944
6,682
59,778
5,012
70,987
-
**145,709**
**11,694**
**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.
## **14 RELATED PARTY TRANSACTIONS**
There are no related party transactions in the current or prior year apart from those already disclosed throughout the report.
20