2021-03-31-accounts - Inner City Music Limited

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CONTENTS				Page
Company information
Trustees' report				2-7
Independent	Auditor's	Report		8-11
Consolidated	statement	offinancial	activities	12
Consolidated	balance sheet			13
Consolidated	statement	ofcash flows		14
Notes to the	financial statements			15-28

Registered	charity name:	charity name:	Band on the Wall
Company	registration	number:	1893979
Charity number:			516351
Principal address:			25 Swan Street
			Manchester
			M4 SJZ
Trustees:			Mr SSorrell (Chair)
			Ms LAshurst
			Mr J Curnuck
			Mr RJones
			Mr D Kaye
			Mr N Reed
			Mr G Sharp
			Mr H Sharrock
			Ms K Gabay
Auditors:			Mitchell Charlesworth		LLP
			Chartered Accountants		and Statutory	Auditors
			3rd Floor
			44 Peter Street
			Manchester
			M2 SGP
Bankers:			The Co-operative	Bank	pic
			1Balloon Street
			Manchester
			M4 4BE

Key management	personnel: Trustees' and Directors
Chair:	Mr SSorrell
Trustees:	Ms LAshurst
	Mr J Curnuck
	Mr RJones
	Mr D Kaye
	Mr N Reed
	Mr G Sharp (see below)
	Mr H Sharrock
	Ms K Gabay

				Unrestricted	Restricted	Total	Unrestricted	Restricted	Total
				Funds	Funds	Funds	Funds	Funds	Funds
			Notes	2021	2021	2021	2020	2020	2020
				E	E	E	f	f	E
Income:
Donations and		legacies	5	526,363	919,108	1,445,471	181,270	169,632	350,902
Other trading	income		6	190,405		190,405	1,223,178		1,223,178
Income from charitable
activities:
Provision of	musical
works and
performances				59		59	298,674		298,674
Total income				716,827	919,108	1,635,935	1,703,122	169,632	1,872,754
Expenditure:
Expenditure on		raising
funds:
Commercial	trading
operation costs				192,027		192,027	747,599		747,599
Expenditure on
charitable activities:
Provision of	musical
works and
performances				655,888	2,740	658,628	891,841	12,053	903,894
Total expenditure				847,915	2,740	850,655	1,639,440	12,053	1,651,493
Net incoming
(outgoing) resources
before transfers				(131,088)	916,368	785,280	63,682	157,579	221,261
Transfers							(52,462)	52,462
Net Movement		of
funds in year				(131,088)	916,368	785,280	11,220	210,041	221,261
Reconciliation		offunds:
Total funds brought
forward				130,794	1,407,656	1,538,450	119,574	1,197,615	1,317,189
Total funds carried				(294)	2,324,024	2,323,730	130,794	1,407,656	1,538,450
forward

				The Group	The Charity	The Group	The Charity
			Notes	2021	2021	2020	2020
				f	f	E	E
Fixed Assets
Tangible assets			16	1,942,284	1,924,284	1,522,856	1,522,856
Investments			17		1		1
				1,942,284	1,924,285	1,522,856	1,522,857
Current assets
Stock			19			9,945
Debtors			20	41,815	57,715	76,602	107,193
Cash at bank	and in	hand		521,014	500,219	188,579	143,152
				562,829	557,934	275,126	250,345
Creditors: amounts		falling due within one year	21	(181,383)	(174,867)	(259,532)	(234,752)
Net current	assets			381,446	383,067	15,594	15,593
Net assets				2,323,730	2,325,352	1,538,450	1,538,450
Funds
Unrestricted	funds:
General			23	(15,294)	(15,294)	115,794	115,794
Designated			23	15,000	15,000	15,000	15,000
Restricted funds			24	2,324,024	2,325,646	1,407,656	1,407,656
				2,323,730	2,325,352	1,538,450	1,538,450

			2021		2020
	Note
Cash flows from operating activities
Cash generated/(used) in operating activities	29		774,743		296,743
Net cash (outflow) from operating activities			774,743		296,743
Cash used in investing activities
Purchase of property, plant and equipment		(442,308)		(214,873)
Net cash used in investing activities			(442,308)		(214,873)
Net (decrease) in cash and cash equivalents			332,435		81,870
Cash and cash equivalents at beginning of
year			188,579		106,709
Cash and cash equivalents at end ofyear			521,014		188,579

5.	Donations		and legacies	and legacies
					Unrestricted	Restricted	Total Funds	Unrestricted	Restricted	Total Funds
					Funds	Funds	2021	Funds	Funds	2020
					f	f	f	f	f	f
	Donations
	Private donations				22,570	10,000	32,570	1,270		1,270
	Grants and		service	level
	agreements
	Arts Council of England				503,793	513,035	1,016,828	180,000	36,199	216,199
	HLF Development			Phase					5,089	5,089
	Cha rita b	le Trusts				62,500	62,500		2,000	2,000
	Charities		Aid Foundation						50,000	50,000
	Carlsberg								13,550	13,550
	Heritage		Lottery Fund			183,573	183,573		62,794	62,794
	Lloyds Bank —Capital
	Funding	Loan				150,000	150,000
					503,793	909,108	1,412,901	180,000	169,632	349,632
					526,363	919,108	1,445,471	181,270	169,632	350,902
6.	Other trading income
					Unrestricted	Restricted	Total Funds	Unrestricted	Restricted	Total Funds
					Funds	Funds	2021	Funds	Funds	2020
					f	f	f	f	f	f
	Commercial		trading
	operations				190,405		190,405	1,223,178		1,223,178
7.	Income from charitable
	activities
					Unrestricted	Restricted	Total Funds	Unrestricted	Restricted	Total Funds
					Funds	Funds	2021	Funds	Funds	2020
					f	f	f	f	f	f
	Ticket income							290,662		290,662
	Other income				59		59	8,012		8,012
					59		59	298,674		298,674

Analysis of		expenditure on ch	aritable activities
				Total	Total
				2021	2020
				f	E
Wages and	salaries (excluding		Bar)	434,855	383,078
Staff related		costs		100	4,179
Hire of plant		and machinery		214	3,831
Advertising				48	6,741
Musicians'	costs			24,604	256,858
Production		costs		19,560	21,701
Venue costs				543	34,090
Repairs and		renewals		7,944	4,489
Capital funding expenditure				2,740
Support costs (note 10)				156,179	182,765
Governance		costs (note 10)		11,841	6,162
				658,628	903,894

			Total	Total
			2021	2020
			f	E
Costs			(658,628)	(903,894)
Direct grant support			503,793	193,550
Net expenditure	on charitable	activities	(154,835)	(710,344)

					Total	Total
					2021	2020
					f	f
	Central support costs:
	Wages and		salaries		1,616	22,373
	Premises costs				72,051	70,621
	Professional		fees		21,493	21,083
	Telephone				6,169	4,639
	Postage and		stationery		242	936
	Advertising				3,080	11,139
	Sundries				6,934	14,687
	Travel				68	4,576
	Bad debts				17,954
	Depreciation				17,220	21,900
	Loss on disposal offixed assets				5,660
	Bank charges				3,692	6,811
					156,179	178,765
	Governance	costs:
	Accountancy		support		3,591	1,912
	Audit fees				8,250	8,250
					168,020	188,927
11.	Net income/(expenditure)			for the year
					Total	Total
					2021	2020
					f	f
	This is stated		after charging:
	Depreciation				17,220	21,900
	Auditors fees - for audit services				8,250	8,250

	Total	Total
	2021	2020
	f	f
Wages and salaries	425,174	517,950
Socia I security costs	33,415	35,572
Pension costs	9,201	13,001
	467,790	566,523

by the charity	duri	ng the year was:
			2021	2020
			No.	No.
Management	and	administration	27	35

Tangible fixed assets
				Equipment,
	Freehold	Assets under		fixtures &
The Group and Charity	property f	construction f	Archiving f	fittings f	Total f
Cost
At 1April 2020	1,175,000	210,041	37,039	418,960	1,841,040
Additions		442,308			442,308
Disposals				(57,470)	(57,470)
At 31March 2021	1,175,000	652,349	37,039	361,490	2,225,878
Depreciation
At 1April 2020			27,220	290,964	318,184
Charge for the year			1,580	15,640	17,220
Disposals				(51,810)	(51,810)
At 31March 2021			28,800	254,794	283,594
Net book value
At 31March 2021	1,175,000	652,349	8,239	106,697	1,942,284
At 31March 2020	1,175,000	210,041	9,819	127,996	1,522,856

The	Group	The	Charity	The	Group	The	Charity
	2021		2021		2020		2020
	f		f		f		f

18.	Financial instruments	Financial instruments	Financial instruments
							The Group	The Charity	The Group	The Charity
							2021	2021	2020	2020
							f	f	f	f
	Carrying amount		offinancial		assets
	Debt instruments		at amortised		cost		562,829	557,935	261,972	188,592
	Equity instruments		measured		at cost	less
	impairment
	Carrying amount		offinancial		liabilities
	Measured at	amortised		cost			181,382	174,867	426,387	401,392
19.	Stock
							The Group	The Charity	The Group	The Charity
							2021	2021	2020	2020
							f	f	f	f
	Goods for resale								9,945
20.	Debtors
							The Group	The Charity	The Group	The Charity
							2021	2021	2020	2020
							f	f	f	f
	Trade debtors						130	33	29,184	1,231
	Amounts owed by group undertakings					in
	which the charity		has a participating			interest		16,560		63,735
	Other debtors						41,444	40,882	24,224	42,227
	Prepayments	and	accrued income				241	240	23,194
							41,815	57,715	76,602	107,193
21.	Creditors: Amounts		falling due		within	one year
							The Group	The Charity	The Group	The Charity
							2021	2021	2020	2020
							f	f	f	f
	Trade creditors						31,437	30,822	73,107	52,256
	Other taxes and social			security			9,087	9,087	20,520	20,520
	Other creditors						8,020	8,020	11,280	7,351
	Accruals and	Deferred		Income			132,839	126,938	154,625	154,625
							181,383	174,867	259,532	234,752

Deferred	income
		2021	2020
		f	f
At 1April	2020	61,665	98,869
Additions	during the year		34,823
Amounts	released to income	(34,700)	(72,027)
At 31March 2021		26,965	61,665

			1April				31March
			2020	Income	Expenditure	Transfers	2021
			f	f	f	f	f
Unrestricted	—general		115,794	716,827	(847,915)		(15,294)
Designated	fund	—Cocozza project	15,000				15,000
			130,794	716,827	(847,915)		(294)
			1April				31March
			2019	Income	Expenditure	Transfers	2020
			f	f	f	f	f
Unrestricted	—general		104,574	1,703,122	(1,639,440)	(52,462)	115,794
Designated	fund	- Cocozza project	15,000				15,000
			119,574	1,703,122	(1,639,440)	(52,462)	130,794

			1April				31March
			2020	Income	Expenditure	Transfers	2021
			E	f	f	f	E
Tangible	fixed assets	fund	1,409,436	919,108	(2,740)		2,325,804
Heritage	Lottery Fund	—Bigger,
Better, Stronger			(1,780)				(1,780)
			1,407,656	919,108	(2,740)		2,324,024
			1April				31March
			2019	Income	Expenditure	Transfers	2020
			E	E	E	E	E
Tangible	fixed assets	fund	1,198,344	169,632	(11,002)	52,462	1,409,436
Archiving	fund		1,051		(1,051)
Heritage	Lottery Fund	- Bigger,
Better, Stronger			(1,780)				(1,780)
			1,197,615	169,632	(12,053)	52,462	1,407,656

												2021		2020
												f		f
	Turnover	and other income									190,405		1,223,178
	Net cost	ofsales	and administrative				expenses				(192,027)		(747,419)
												(1,622)		475,759
	Donation	to Inner City Music Limited											(475,759)
	Retained	in subsidiary		for period								(1,622)
	Balance at 31March 2021											(1,622)
27.	Operating	lease	commitments
	At the reporting		date	the charity			had outstanding	commitments		for future	minimum	lease	payments	under
	non-cancellable operating				leases,		which fall due	as follows:
							The Group		The Charity		The	Group	The	Charity
								2021		2021		2020		2020
								f		f		f		f
	Within one year							981		981		981		981
	Between	two and	five	years								981		981
								981		981		1,962		1,962
28.	Capital commitments
							The Group		The Charity		The	Group	The	Charity
								2021		2021		2020		2020
								f		f		f		f
	Within one year						1,687,634			1,687,634	2,129,442		2,129,942
29.	Analysis	ofnet assets		between		funds
							General		Designated		Restricted
	The Group 2021							Fund f		Funds f		Funds f		Total f
	Tangible	fixed assets						77,092			1,847,192		1,924,284
	Cash at bank and		in hand							15,000	506,014			521,014
	Net current assets/(liabilities)							(92,386)			(29,182)		(121,568)
								(15,294)		15,000	2,324,024		2,323,730

		General	Designated	Restricted
The Group 2020		Fund f	Funds f	Funds f	Total f
Tangible fixed assets		125,532		1,397,383	1,522,915
Cash at bank and	in hand	173,579	15,000		188,579
Net current assets		(183,317)		10,273	(173,044)
		115,794	15,000	1,407,656	1,538,450
		General	Designated	Restricted
The Charity 2021		Fund f	Funds f	Funds f	Total f
Tangible fixed assets		77,092		1,847,192	1,942,284
Investments		1			1
Cash at bank and	in hand		15,000	485,219	500,219
Net current assets		(92,387)		(6,765)	(99,152)
		(15,294)	15,000	2,325,646	2,325,352
		General	Designated	Restricted
The Charity 2020		Fund	Funds	Funds	Total
		f	f	f	f
Tangible fixed assets		125,532		1,397,383	1,522,915
Investments		1			1
Cash at bank and	in hand	128,152	15,000		143,152
Net current assets		(137,891)		10,273	(127,618)
		115,794	15,000	1,407,656	1,538,450

Cash used in operations	Cash used in operations
			2021	2020
			f	f
Net movement in funds			785,280	51,269
Adjustments for:
Depreciation			17,220	21,900
Loss on sale oftangible		fixed assets	5,659	1,450
Movements in working	capital:
(Increase)/decrease	in stock		9,945	(2,283)
(Increase)/decrease	in debtors		34,787	13,750
Increase/(decrease)	in creditors		(78,149)	210,297
Net cash generated/(used)		in operations	774,743	296,743