2023-03-31-accounts - The Huddersfield Contemporary Music Festival Limited

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	Page
Reference and Administrative Information
Report ofthe Committee of Management
Independent Examiner's Report	10
Statement of Financial Activities
Balance Sheet
Statement ofCash Flows	13
Notes to the financial statements	14

Governing	Document	Memorandum and Articles ofAssociation	Memorandum and Articles ofAssociation
Charity Number:		514614
Company	Number:	1715684
Committee	ofManagement:	Professor Michael Peake - Chair
		Dr Laura Bowler
		Professor Michael Clarke
		Baroness Kath Pinnock
		Mr Andrew Kurowski
		Martel Ollerenshaw
		Professor Nic Clear
		Dr Raymond MacDonald
Artistic Director and Chief Executive:		Mr Graham McKenzie
Company	Secretary:	Miss Roisin Hughes
Registered	Office:	RS 1/10
		University of Huddersfield
		Queensgate
		Huddersfield
		West Yorkshire
		HD1 3DH
Accountants:		Forrest Burlinson
		Chartered Accountants
		20 Owl Lane
		Dewsbury
		WF12 7RQ
Bankers:		National Westminster	Bank PLC
		8 Market Place
		Huddersfield
		West Yorkshire
		HD1 2AL

The Board of Management whom the festival would	would like to not be possible.	would like to not be possible.	would like to not be possible.	would like to not be possible.	acknowledge In 2022-23	acknowledge In 2022-23	acknowledge In 2022-23
Arts Council England
Kirklees Council
University of Huddersfield
British Council
RVW Trust
PRS Foundation
Ernst von Siemens Music	Foundation
Culture Ireland
Music Information Centre	Lithuania
Lithuanian Culture Institute
STIM in collaboration with		Stim Forward			Fund
Export Music Sweden
Vgstra Gotalandsregionen
The Swedish Composers	Society		(FST)
The Embassy ofSweden
The Creative Europe Programme			ofthe		European		Union
BBCRadio 3
Other groups who provided		valued		support		include:
CeReNeM
Heritage Quay
Muso Publishing
HISS
TG Events Ltd
Evoke
Bates Mill
Lawrence Batley Theatre
The hcmf// Members

			Unrestricted	Restricted	2023	2022
		Notes	funds	funds E	Totalf	Total 8
Income:
Donations and legacies
Donations and similar income			10,950		10,950	5,658
Income from charitable	activities
Contemporary Music Festival
Grants			316,073	163,934	480,007	434,582
Boxoffice and other festival income			34,452		34,452	20,237
Learning and Participation	programme
Grants				4,620	4,620	9,463
Creative Europe (Sounds	Now Project)			52,510	52,510
Workshops						1,025
Investment Income
Bank deposit interest			565		565	20
Total income			362,040	221,064	583,104	470,985
Expenditure
Charitable actlvltes:
Contemporary Music Festival			303,543	161,199	464,742	343,070
Building Fundraising Capacity			16,467		16,467	23,911
Learning and Participation	Programme		13,013	4,620	17,633	9,896
Festival and Audience Development			44,614		44,614	11,341
Sound Now Project				23,652	23,652	32,104
Governance Costs			54,587		54,587	36,561
Total resources expended			432,224	189,471	621,695	456,883
Net movement in funds			(70,184)	31,593	(38,591)	14,102
Reconclfflation offunds:
Total funds brought forward			172,506	6,612	179,116	165,016
Total funds carried forward			102,322	38,205	140527	179118

BALANCE SHEET AS AT 31 MARCH	2023
				Total		Total
				2023		2022
		Notes		E		6
FIXEDASSETS
Tangible assets				570		1,536
CURRENT ASSETS
Debtors and prepayments			87,619		88,460
Cash at bank and in hand			113,119		130,806
			200,738		219,266
CURRENT LIABILITIES
Creditors amounts	falling due
within one year			(60,782)		(41,684)
Net current assets				139,957		177,582
Total assets less current liabilities				140,527		179,118
NET ASSETS/(LIABILITIES)				140,527		179,118
FUNDS
Unrestricted funds		10		102,322		172,506
Restricted Funds		10		38,205		6,612
				140,527		179,118

						2023	2022
					Notes	Total	Total
						E	E
Net cash used in	operating	activities			15	(18,252)	(69,004)
Cash flows from	investment	activities:
Interest						565	20
Purchase offixed	assets						(1,709)
Net cash provided	by (used	in) investing	activities			565	1,689
Increase/(decrease)	in cash	and cash equivalents		during	the year	(17,687)	(70,693)
Cash and cash equivalents		brought forward				130,806	201,499
Cash and cash equivalents		carried forward				113,119	130,806

		Unrestricted	Restricted	2023	2022
Grants receivable		Funds f	Funds f	Total	Total
United Kingdom
Arts Council England		246,073		246,073	246,073
Arts Council England	(Culture Recovery Fund)				25,000
Kirklees Council		30,000	1,000	31,000	32,050
Kirklees Council Year	ofMusic 2023		10,000	10,000
Kirklees Council (Business Rates Pool)					39,197
PRS Foundation			11,000	11,000	15,000
University ofHuddersfield		40,000		40,000	40,000
RVW Trust			5,000	5,000	5,000
Ernst vonSiernens Music Foundation			25,142	25,142	23,712
Hinrichsen Foundation			6,000	6,000
British Council			37,800	37,800	10,600
Childrens Art School			2,500	2,500	1,518
Arnold Clarke			1,000	1,000
We are IVE Ltd			120	120
Peter Sowerby Foundation					5,895
		3168f3	99562	415635	444045
Overseas
Culture Ireland			14,064	14,064
STIM (STIM Forward	Fund)		34,541	34,541
Creative Europe (Sounds now )			52,510	52,510
Lithuanian Culture Institute			17,653	17,653
EFFEA - Wonderfeel			2734	2734
			121,502	121,502
Total Grants		316,073	221,064	537,137	444,045
Boxoffice and other	festival income			2023f	2022f
Net festival box oflice	income			30,482	13,005
Broadcasting fees - BBCRadio				3,970	7,232
				34,452	20,237

							Support costs
				Artists	fees	Other direct	Staff	Office	2023
			8 expenses			costs	Costs	Costs	Total
Total resources expended				6		6	6		6
Contemporary Music Festival				258,591		109,721	89,595	6,835	464,742
Building Fundraising Capacity							16,467		16,467
Learning &Participation	Programme				4,316	158	13,159		17,633
Festival and Audience Development Sounds Now Project Governance Costs					7,552	20,752 12,038	23,862 4,062 40,541	14,046	44,614 23,652 54,587
				270,459		142,669	187,686	20.881	621,896
Support costs are allocated on the			basis ofestimates ofthe proportion oftime spent by staff on					those activities.
Cost allocation includes	an element		ofjudgement	and the charity has had to consider the cost benefit ofdetailed
calculations and record	keeping.	Therefore the		support	costs	shown above	are a best estimate	ofthe costs that
have been so allocated.
								2023	2022
Totalcostsindude:								K	6
Independent examination	remuneration							1,500	1,500
Depreciation								966	956

	2023	2022
Staff costs and consultants	6	K
Employees:
Salaries and wages	129,085	122,112
Social security costs	7,810	11,236
Pension Costs	2,650	2,685
	139,745	136,033
Consultants	22,522	18,131
	162,267	154,164

			2023	2022
			Number	Number
	Festival Programme
	Festival Development
	Governance
			Office	Total
			Equipment
7	Tangible fixed assets		6
	Cost
	At 1 April 2022		15,336	15,336
	Additions
	At 31 March 2023		15336	15336
	Depreciation
	At 1 April 2022		13,800	13,800
	Charge for year		966	966
	At 31 March 2023		14,766	14,766
	Net book value
	At 31 March 2023		570	570
	At 31 March 2022		783	783
8	Debtors
	Income receivable		73,030	81,372
	Prepayments		975	2,356
	VAT recoverable		13,614	4,732
			87,619	88,460
			2023	2022
9	Creditors, amounts	falling due within one year	6	2
	Other trade creditors		6,237	636
	Accruals		54,545	41,048
			60782	41,684

									Transfers
							Incoming	Resources	between
10	Statement offunds					2022 6	resoumes 6	expended 6	funds 8	2023f
	Unrestricted	funds
	General Fund Designated Fund					122,506	362,040	(432,224)	35,000	87,322
	Organisational	Resilience		fund		50,000			(35,000)	15,000
						172508	302040	432224		102322
	Restricted Funds
	Artistic Prograrnrne		Fund				163,934	(161,199)		2,735
	Learning and Sounds Now	Participation Project		Fund		6612	4,620 52510	(4,620) 23652		35 70
						8,612	221084	189471		35205
	TotalFunds					179,118	583104	821,695		140,527
									Transfers
							Incoming	Resources	between
	Statement offunds-previous				year	2021 6	resources 6	expended 6	funds 6	2022 6
	Unrestricted	funds
	General Fund					76,300	407,210	(361,004)		122,506
	Designated	Fund
	Organisational	Resilience		fund		50,000				50,000
						126300	407 10	351004		172506
	Restricted Funds
	Artistic Programme		Fund				54,312	(54,312)
	Learning and Sounds Now	Participation Project		Fund		38,716	9,463 -	(9,463) 32 104		8,612
						38716	63775	95879		8612
	Total Funds					165 016	470985	456883		179118

		General	Designated	Restricted	Total
		Fund	Fund	Funds
Analysis of net assets between funds		K	8	6
Fund balances at 31 March 2023are represented	by:
Tangible fixed assets		570				570
Net current assets/(liabilities)		89,104	15,000	35,470	139,574
		89674	15000	35470	140	144
		General	Designated	Restricted	Total
Analysis ofnet assets between funds-previous	year	Fund	Fundf	Funds 8	8
Fund balances at 31 March 2022 are represented	by:
Tangible fixed assets		1,536			1,536
Net current assets/(liabilities)		120,970	50,000	6,612	177,582
		'l22,506	50000	6612	179	116

	in the event ofthe com	pany being	wound up Is limited to a sum not exceeding	wound up Is limited to a sum not exceeding	51 each.
15	Reconciliation ofnet	movements	in funds to net cash flow from operating		activities
						2023	2022
						6	5
	Net movement in funds					(38,591)	14,102
	Add back depreciation	charge				966	956
	Deduct interest income shown in investing Decrease (increase) in debtors Increase (decrease) in creditors Net cash used in operating activities			activities		(565) 840 19098 18252	(20) (50,115) 33,927 69,004