##
||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||
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|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|the debt ofgratitude
they included:|we owe to our funders/|partners,|without|
|---|---|---|---|---|---|---|---|---|---|---|---|
|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||||||||||||
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||||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|
##
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|||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|
##
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|||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|
##
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||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|