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2023-06-30-accounts

THE MUSICSPACE TRUST (A COMPANY LIMITED BY GUARANTEE)

REPORTS AND FINANCIAL STATEMENTS

Accounts

FOR THE YEAR ENDED 30 JUNE 2023

UNAUDITED

Charity Number: 328311 Company Registered Number: 02411791

THE MUSICSPACE TRUST

REPORTS AND FINANCIAL STATEMENTS

YEAR ENDED 30 JUNE 2023

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 11-21

THE MUSICSPACE TRUST

PATRONS

YEAR ENDED 30 JUNE 2023

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 2023

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
Mr James Prickett (Treasurer)
Ms Susan Dolby
Mrs Kathryn Louise Mckee_(appointed 24 January 2023)_
Ms Judith Sara Rose_(appointed 24 January 2023)_
Mr David Barry Davies_(appointed 4 September 2023)_
SECRETARY Ms Deborah England_(Terminated 4 September 2023)_
Ms Kim Smith
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 2023

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.

Charitable Objects

  1. To protect and promote good health and well-being through the provision of music therapy.

  2. To relieve sickness and preserve the health of people with disabilities, complex health needs and life-limiting conditions through the provision of music therapy.

  3. To advance the education of the public in the benefits of music therapy in particular but not exclusively by raising awareness of such therapy by commissioning and publishing research.

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

THE MUSICSPACE TRUST TRUSTEES' REPORT YEAR ENDED 30 JUNE 2023

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, SENDCOs, 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. We lost 75 days of music therapy sessions from staff and client sickness during the year mainly due to Covid-19 (87 days of sessions lost last year). In spite of this, the MusicSpace team worked with over 775 people, including 453 new clients and delivered more than 7,300 music therapy sessions both at our centre and in a range of locations across the region. Thanks to a grant from BBC Children in Need, 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 third 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, which has now been extended for a further year. The sessions are aimed at developing three key areas: communication, confidence & self-esteem and listening & concentration. During the year there continued to be 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.

Work at Bristol’s Royal Hospital for Children increased to 6 days per week thanks to funding from The Grand Appeal. Our therapists worked with children on the wards including Adolescent, Bone Marrow Transplant, Neurorehabilitation & Oncology. Development work continued with our therapists starting sessions in a number of mainstream primary schools in Bristol and Wiltshire and extending our work at a specialist unit and a residential home for young adults in South Gloucestershire. We continued our work in residential homes for adults with learning difficulties, physical disabilities and acquired head injury within Bristol, North Somerset and Gloucestershire, although again sessions were affected when the homes had to quarantine due to Covid-19.

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, Osborne Clark, The Verdon Smith Family Settlement in addition to RiffRaff & People of Note Choirs.

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 2023

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

• ‘Music therapy has been invaluable giving M her own space to be with the music therapist. It has given her some confidence back, which through lock down, had been affected as we shielded to support her brother. It is so important to give children another way to be able to express themselves, where words are more difficult and to be themselves without judgement' (parent of a 9-year-old experiencing anxiety)

• ‘It is heart-warming that B is getting this experience. 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)

• 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’ (mother of a 10-year-old referred with anxiety)

• ‘H is benefiting a lot from the sessions and both her anxiety and concentration have improved’ (parent of a 3- year-old with complex needs)

• ‘It is an enormous step for him to be left alone in the room without “one of us”, well done. This has never happened before. You have a gift in understanding autism and B is aware of that. B asks for you at least 3 times a week on his iPad…it is quite lovely.’ (parent of 12- year-old with autism)

• ‘R seems to be more confident in communicating his feelings with me and his peers. Music therapy has helped R to establish and set boundaries. Therapy has also helped R explore his feelings of anger and aggression. It has been an absolute pleasure seeing R grow and interact with his therapist. I'm extremely grateful for this experience.’ (parent of 6-year-old who had experienced domestic abuse, experienced anger, anxiety and communication difficulties)

• ‘I'm so pleased that we are able to offer families in paediatric intensive care and paediatric cardiology music therapy sessions. Claire (Senior Music Therapist) is brilliant at engaging with the children on the ward and encouraging the parents to interact with them through music. At a time when parents are very worried and frightened, Claire is able to bring some joy into their lives. Parents I have worked with on the wards have always spoken very highly of their music therapy sessions.’ (Clinical psychologist, Bristol Royal Hospital for Children)

• ‘For a period of 4 months, our daughter was an inpatient of Bristol's Children Hospital and during that time Claire would stop by once a week for music therapy and it was by far the highlight of our week, not just for B but for us too. Claire is an incredibly talented and kind individual, and her love for music is truly uplifting. Through her music sessions we saw more physical and character development in B than from any other activity. She loved her time with Claire, and even now we still sing 'her' song to see pure delight in her face. Claire made a very traumatic experience just that little bit easier and we are very grateful.’ (Parents of a baby who had a long admission to hospital)

• ‘Without music, hospital can be a boring place for a child with hearing, vision and complex needs. Music is the one thing that unlocks and simulates my son and makes his hospital stay much more enjoyable as music means he can play and, no matter your level of disabilities, music can make you smile! My son can’t access conventional play or use the playroom but music can be played from his hospital bed!’ (Parent of a patient with cerebral palsy and sensory impairments)

5

THE MUSICSPACE TRUST

TRUSTEES' REPORT

YEAR ENDED 30 JUNE 2023

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 £88,623 (2022: £89,900) approximates to 3.2 (2022: 3.8) 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 £36,359 (2022: £33,252). These donations have been applied to the objects of the Charity.

Total expenditure exceeded total income by £59,956 in comparison to a deficit of £46,154 in 2022.

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 2023

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.

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

Jan 12 2024

Date ________

7

YEAR ENDED 30 JUNE 2023

THE MUSICSPACE TRUST

INDEPENDENT EXAMINER'S REPORT

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 2023.

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

Joshua Kingston BSc ACA Burton Sweet Limited Chartered Accountants The Clock Tower, 5 Fairleigh Court Old Weston Road, Flax Bourton Bristol BS48 1UR

Date: Jan 12 2024

8

THE MUSICSPACE TRUST

STATEMENT OF FINANCIAL ACTIVITIES AND INCOME AND EXPENDITURE ACCOUNT YEAR ENDED 30 JUNE 2023

----- Start of picture text -----
Unrestricted Restricted Total Funds Total Funds
Funds Funds 2023 2022
Note £ £ £ £
Income from:
Donations and legacies
- - -
• Legacies (248)
• Donations and grants 3,578 31,880 35,458 31,113
• Government grants 901 - 901 2,387
Other trading activities
-
• Fundraising events 3,246 3,246 1,077
• Other income 3,978 - 3,978 -
Investment income 2,826 - 2,826 210
Charitable activities:
-
• Therapy and supervision fees 259,118 259,118 242,896
TOTAL INCOME 273,647 31,880 305,527 277,435
Expenditure on:
Charitable activities:
• Music therapy 2 (327,611) (30,672) (358,283) (323,317)
-
Raising funds (7,200) (7,200) (272)
TOTAL EXPENDITURE (334,811) (30,672) (365,483) (323,589)
Net income/(expenditure) and
movement in funds 3 (61,164) 1,208 (59,956) (46,154)
RECONCILIATION OF FUNDS
Total funds brought forward 10 309,850 53,652 363,502 409,656
TOTAL FUNDS CARRIED FORWARD 10 248,686 54,860 303,546 363,502
----- 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 21 form part of these accounts

9

THE MUSICSPACE TRUST

BALANCE SHEET (COMPANY REGISTRATION NUMBER 02411791)

AS AT 30 JUNE 2023

----- Start of picture text -----
2023 2022
Note £ £ £ £
FIXED ASSETS
Tangible assets 7 975 1,751
CURRENT ASSETS
Debtors and prepayments 8 39,285 42,509
Cash at bank and in hand 273,632 327,826
312,917 370,335
CURRENT LIABILITIES
Creditors: amounts falling due within one year 9 (10,346) (8,584)
NET CURRENT ASSETS 302,571 361,751
NET ASSETS 303,546 363,502
FUNDS
Restricted Funds 11 54,860 53,652
Unrestricted Funds 11 248,686 309,850
303,546 363,502
----- 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 Jan 12 2024 Jan 12 2024 Date: ___ Date: ___

The notes on pages 11 to 21 form part of these accounts

10

THE MUSICSPACE TRUST NOTES TO THE ACCOUNTS YEAR ENDED 30 JUNE 2023

1 ACCOUNTING POLICIES

BASIS OF ACCOUNTING

The financial statements have been prepared in accordance with the historical cost convention (except where otherwise stated in the accounting policy note) and 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.

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 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

NOTES TO THE ACCOUNTS YEAR ENDED 30 JUNE 2023

THE MUSICSPACE TRUST

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.

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 2023

1 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
Equipment depreciation
Small instruments and music
Travel, subsistence and entertaining
Supervision
Therapists training
Support costs (see note 4)
Total charitable activities expenditure		 Unrestricted
funds
£
251,130
30,533
27,639
394
554
3,225
2,170
470
11,496
327,611
Unrestricted
funds
£
227,458
26,312
12,319
79
72
3,896
2,470
3,596
10,394
286,596		 Restricted
funds
£
29,840
-
-
382
450
-
-
-
-
30,672
Restricted
funds
£
35,031
-
-
659
1,031
-
-
-
-
36,721		 Total
2023
£
280,970
30,533
27,639
776
1,004
3,225
2,170
470
11,496
358,283
Total
2022
£
262,489
26,312
12,319
738
1,103
3,896
2,470
3,596
10,394
323,317

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 2023

3 NET INCOME / (EXPENDITURE)

This is stated after charging:

Depreciaton
Independent examiner's fee - current year
Independent examiner's fee - under accrued previous year		 2023
£
776
1,320
-
2,096		 2022
£
738
1,200
42
1,980

Aggregate donations from Trustees, key management personnel and other related parties were £NIL(2022: £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
Postage and carriage
Communications
Office stationery
Computer and software expenses
Insurance
Advertising
Sundry
Bank charges		 Unrestricted
funds
£
1,320
2,856
5
1,170
151
3,683
1,022
105
1,121
63
11,496
Unrestricted
funds
£
1,242
3,655
3
975
175
1,480
940
643
1,185
96
10,394		 Restricted
funds
£
-
-
-
-
-
-
-
-
-
-
-
Restricted
funds
£
-
-
-
-
-
-
-
-
-
-
-		 Total
2023
£
1,320
2,856
5
1,170
151
3,683
1,022
105
1,121
63
11,496
Total
2022
£
1,242
3,655
3
975
175
1,480
940
643
1,185
96
10,394

14

THE MUSICSPACE TRUST

NOTES TO THE ACCOUNTS

YEAR ENDED 30 JUNE 2023

5 STAFF COSTS AND NUMBERS

Wages and salaries
Pension
Social Security costs		 2023
£
257,239
8,058
15,673
280,970		 2022
£
240,706
7,125
14,658
262,489

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 £57,118 (2022: £65,343).

The average number of staff (headcount) during the year was 13 (2022: 12).

15

THE MUSICSPACE TRUST

NOTES TO THE ACCOUNTS

YEAR ENDED 30 JUNE 2023

6 COMPARATIVE STATEMENT OF FINANCIAL ACTIVITIES AND INCOME AND EXPENDITURE ACCOUNT

INCOME
Income from generated funds
Donations and legacies
• Legacies
• Donations and grants
• Government grants
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
£
(248)
3,728
2,387
1,077
210
242,896
250,050
(286,596)
(272)
(286,868)
(36,818)
346,668
309,850		 Restricted
Funds
£
-
27,385
-
-
-
-
27,385
(36,721)
-
(36,721)
(9,336)
62,988
53,652		 Total Funds
2022
£
(248)
31,113
2,387
1,077
210
242,896
277,435
(323,317)
(272)
(323,589)
(46,154)
409,656
363,502

16

THE MUSICSPACE TRUST

NOTES TO THE ACCOUNTS

YEAR ENDED 30 JUNE 2023

7
FIXED ASSETS
Cost
At 1 July 2022
Disposals
At 30 June 2023
Depreciation
At 1 July 2022
Charge for the year
On disposals
At 30 June 2023
Net book value
At 30 June 2023
At 30 June 2022
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
£
81,543
(78,183)
3,360
79,792
776
(78,183)
2,385
975
1,751
2023
£
37,613
481
1,191
39,285
2023
£
3,660
3,607
1,320
1,759
10,346		 Total
£
363,213
(359,853)
3,360
361,462
776
(359,853)
2,385
975
1,751
2022
£
41,696
-
813
42,509
2022
£
1,774
4,076
1,200
1,534
8,584

17

THE MUSICSPACE TRUST

NOTES TO THE ACCOUNTS

YEAR ENDED 30 JUNE 2023

10 ANALYSIS OF MOVEMENT OF FUNDS

Restricted Funds
Therapy project funds
Musical equipment fund
Unrestricted funds
General funds
Designated funds:
Building fund
Development 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 2022
£
44,835
8,817
53,652
91,005
180,462
-
20,000
18,383
363,502
At 1 July 2021
£
49,622
13,366
62,988
118,335
190,000
20,000
18,333
409,656		 £
31,880
-
31,880
328,647
-
120,000
-
-
480,527
£
27,385
-
27,385
275,000
17,255
-
50
319,690
Income/
Transfers
Income/
Transfers		 £
(29,248)
(1,424)
(30,672)
(330,539)
(153,877)
(25,395)
-
-
(540,483)
£
(32,172)
(4,549)
(36,721)
(302,330)
(26,793)
-
-
(365,844)
Expenditure/
Transfers
Expenditure/
Transfers		 At 30 June 2023
£
47,467
7,393
54,860
89,113
26,585
94,605
20,000
18,383
303,546
At 30 June 2022
£
44,835
8,817
53,652
91,005
180,462
20,000
18,383
363,502

18

THE MUSICSPACE TRUST NOTES TO THE ACCOUNTS YEAR ENDED 30 JUNE 2023

10 ANALYSIS OF MOVEMENT OF FUNDS (Cont.)

The income, expenditure and transfers figures above include the following transfers between funds: 2021 - 22


2021 - 22
Description Date From/To Amount
£
Kathleen Farrell legacy final tranche 24-Sep-21 GEN to DES 17,255
accrued FY20-21 within GEN and Build Fund
transferred to DES BF in FY21-22
For Business Continuity (agreed Trustees 28-Mar-22 DES Build Fund 25,000
Meeting on 22.03.22) to UR Gen
Fund
2022 - 23
Description Date From/To Amount
£
For Business Continuity (agreed Trustees 24-Nov-22 DES Build Fund 30,000
Meeting on 26.07.22) to UR Gen
Fund
To create a new Designated Fund for 05-Dec-22 DES Build Fund 120,000
Development, to support a programme of to DES Dev
service development (agreed Trustees Fund
Meeting 29.11.22)
Business continuity (as agreed at 26-Apr-23 DES Dev Fund 25,000
Trustees Meeting 21.3.23) to UR Gen
Fund

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 Development 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 To support the development of the organisation and its people. 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

19

THE MUSICSPACE TRUST

NOTES TO THE ACCOUNTS YEAR ENDED 30 JUNE 2023

11 ANALYSIS OF NET ASSETS BETWEEN FUNDS

As at 30 June 2023

Restricted funds
Therapy project funds
Music equipment funds
Unrestricted funds
General funds
Designated funds:
Building fund
Development fund
Succession fund
Client fund
Total 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		 Fixed
Assets
£
64
200
264
490
221
-
-
-
711
975
Fixed
Assets
£
174
472
646
1,105
-
-
-
1,105
1,751		 Other
Net Assets
£
47,403
7,193
54,596
88,623
26,364
94,605
20,000
18,383
247,975
302,571
Other
Net Assets
£
44,661
8,345
53,006
89,900
180,462
20,000
18,383
308,745
361,751		 Total
£
47,467
7,393
54,860
89,113
26,585
94,605
20,000
18,383
248,686
303,546
Total
£
44,835
8,817
53,652
91,005
180,462
20,000
18,383
309,850
363,502

The free reserves of the charity as at 30 June 2023 are considered to be £88,623 (2022: £89,900).

20

THE MUSICSPACE TRUST NOTES TO THE ACCOUNTS YEAR ENDED 30 JUNE 2023

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 2023 there were 6 (2022: 6) members.

13 COMMITMENTS UNDER OPERATING LEASE

At 30 June 2023 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		 2023
2022
£
£
17,934
14,944
71,734
59,778
67,250
70,987
156,918
145,709
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.

21

Audit Trail

Document Details

Title The Music Space - Accounts 2023
File Name Accounts Musicspace 2023 - 10.01.24.pdf
Document ID a4176d7e88574d72b6ec3694fcf0a518
Fingerprint 8b2d4ab20ba682040f62476dc324fbad
Status Completed
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Document Created Document Created by Klaudia Sowa (klaudia.sowa@burton-sweet.co.uk)
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