2023-03-31-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			13-14
Consolidated	statement	ofcash flows		15
Notes to the	financial statements			16-31

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 N Reed
			Mr G Sharp
			Mr H Sharrock
			Ms K Gabay
Auditors:			Mitchell Charlesworth		(Audit) Limited
			Statutory Auditors 3"Floor
			44 Peter Street
			Manchester
			M2 5GP
Bankers:			The Co-operative	Bank	pic
			1Balloon Street
			Manchester
			M4 4BE

		Unrestricted	Restricted	Total	Unrestricted	Restricted	Total
		Funds	Funds	Funds	Funds	Funds	Funds
	Notes	2023	2023	2023	2022	2022	2022
		E	E	f	f	f	f
Income:						(Restated)	(Restated)
Donations and legacies	5	318,834	396,308	715,142	743,980	2,174,786	2,918,766
Other trading income	6	1,394,888		1,394,888	375,214		375,214
Income from charitable
activities:
Provision of musical
works and performances	7	557,378		557,378	87,427		87,427
Total income		2,271,100	396,308	2,667,408	1,206,621	2,174,786	3,381,407
Expenditure:
Expenditure on raising
funds:
Commercial trading
operation costs		(984,846)		(984,846)	(384,560)		(384,560)
Expenditure on
charitable activities:
Provision of musical
works and performances	8	(1,079,401)	(343,040)	(1,422,441)	(899,234)		(899,234)
Total expenditure		(2,064,247)	(343,0401	(2,407,287)	(1,283,794)		(1,283,794)
Net incoming/ (outgoing)
resources before transfers		206,853	53,268	260,121	(77,173)	2,174,786	2,097,613
Transfers
Net movement of
funds in year		206,853	53,268	260,121	(77,173)	2,174,786	2,097,613
Reconciliation offunds:
Total funds brought
forward		(77,467)	4,498,810	4,421,343	(294)	2,324,024	2,323,730
Total funds carried		129,386	4,552,078	4,681,464	(77,467)	4,498,810	4,421,343
forward

					The Group	The Charity	The Group	The Charity
				Notes	2023	2023	2022	2022
					f	f	E	E
Fixed Assets							(Restated)	(Restated)
Tangible assets				15	4,939,999	4,939,999	4,658,835	4,658,835
Investments				16		1		1
					4,939,999	4,940,000	4,658,835	4,658,836
Current assets
Stock				18	28,333		23,989
Debtors				19	67,202	137,044	185,587	268,359
Cash at bank	and in	hand			486,255	368,294	911,793	767,791
					581,790	505,338	1,121,369	1,036,150
Creditors: amounts		falling due within one year		20	(598,937)	(522,486)	(1,110,972)	(1,014,786)
Net current	assets				(17,147)	(17,148)	10,397	121,364
Total assets	less current		liabilities		4,922,852	4,922,852	4,421,343	4,432,311
Creditors: amounts		falling due after one year		21	(241,388)	(241,388)	(247,889)	(247,889)
Net assets					4,681,464	4,681,464	4,523,454	4,534,421
Funds
Unrestricted	funds:
General				23	114,386	120,092	(88,434)	(77,467)
Designated				23	15,000	15,000	15,000	15,000
Restricted funds				24	4,552,078	4,546,372	4,494,777	4,494,778
					4,681,464	4,681,464	4,421,343	4,432,311

					2023		2022
			Note
Cash flows from operating	activities
Cash generated in operating	activities		31		(117,272)		3,120,078
Net cash from operating activities					(117,272)		3,120,258
Cash used in investing activities
Purchase of property, plant	and equipment			(308,266)		(2,729,299)
Net cash used in investing	activities				(308,266)		(2,729,299)
Net (decrease)/increase in	cash and cash
equivalents					(425,538)		390,779
Cash and cash equivalents at beginning		of
year					911,793		521,014
Cash and cash equivalents	at end ofyear				486,255		911,793

Fixtures,	fittings and equipment	5%to 20% reducing	balance
Archives		10%ofcost
Computer	equipment	20%ofcost

5.	Donations	and legacies
			Unrestricted	Restricted	Total Funds	Unrestricted	Restricted	Total Funds
			Funds	Funds	2023	Funds	Funds	2022
			f	f	f	f	f	f
	Donations						(Restated)	(Restated)
	Private donations			5,706	5,706		7,095	7,095
	Grants and	service level
	agreements
	Revenue	Grants	318,834		318,834	743,980		743,980
	Arts Council of England			198,902	198,902		1,074,055	1,074,055
	Cha rita b le Trusts			34,000	34,000		10,000	10,000
	Heritage	Lottery Fund		157,700	157,700		1,083,636	1,083,636
			318,834	390,602	709,436	743,980	2,167,691	2,911,671
			318,834	396,308	715,142	743,980	2,174,786	2,918,766
6.	Other trading income
			Unrestricted	Restricted	Total Funds	Unrestricted	Restricted	Total Funds
			Funds	Funds	2023	Funds	Funds	2022
			f	f	f	f	f	f
	Commercial	trading
	operations		1,394,888		1,394,888	375,214		375,214
7.	Income from charitable
	activities
			Unrestricted	Restricted	Total Funds	Unrestricted	Restricted	Total Funds
			Funds	Funds	2023	Funds	Funds	2022
			f	f	f	f	f	f
	Ticket income		441,706		441,706	82,630		82,630
	Other income		115,672		115,672	4,797		4,797
			557,378		557,378	87,427		87,427

Analysis of		expenditure on ch	aritable activities
				Total	Total
				2023	2022
				f	E
Wages and		salaries (excluding	Bar wages)	565,371	404,754
Staff related		costs		35,096	8,072
Hire of plant		and machinery		28,950	21,232
Advertising				129,027	56,124
Musicians'	costs			314,122	76,246
Production		costs		100,159	44,047
Venue costs				17,367	42,696
Repairs and		renewals		7,139	5,995
Capital funding expenditure				41,802	120,010
Central Support costs (note 9)				174,257	106,739
Governance		costs (note 9)		9,151	13,319
				1,422,441	899,234

					Total	Total
					2023	2022
					f	f
	Central support costs:
	Premises costs				80,733	42,379
	Professional		fees		5,708	5,675
	Telephone				2,370	288
	Postage and		stationery		784	708
	Sundries				47,847	40,500
	Travel				7,075	2,343
	Bad debts					20
	Depreciation				26,924	12,748
	Loss on disposal offixed assets				178
	Bank charges				2,638	2,079
					174,257	106,738
	Governance	costs:
	Accountancy		support		1,301	5,469
	Audit fees				7,850	7,850
					9,151	13,319
10.	Net income/(expenditure)			for the year
					Total	Total
					2023	2022
					f	f
	This is stated		after charging:
	Depreciation				26,924	12,748
	Auditors fees - for audit services				8,615	7,850

	Total	Total
	2023	2022
	f	f
Wages and salaries	611,629	404,420
Socia I security costs	67,872	37,270
Pension costs	15,655	13,064
	695,156	454,754

by the charity	duri	ng the year was:
			2023	2022
			No.	No.
Management	and	administration	56	48

Tangible fixed assets
			Equipment,
	Freehold		fixtures &
The Group and Charity	property f	Archiving f	fittings f	Total f
Cost
At 1April 2022	4,556,647	37,039	361,491	4,955,177
Additions	230,026		78,240	308,266
Disposals/transfers			(1,325)	(1,325)
At 31March 2023	4,786,673	37,039	438,406	5,262,118
Depreciation
At 1April 2022		30,380	265,962	296,342
Charge for the year		1,580	25,344	26,924
Disposals			(1,147)	(1,147)
At 31March 2023		31,960	290,159	322,119
Net book value
At 31March 2023	4,786,673	5,079	148,247	4,939,999
At 31March 2022	4,556,647	6,659	95,529	4,658,835

The	Group	The	Charity	The	Group	The	Charity
	2023		2023		2022		2022
	f		f		f		f

17.	Financial instruments	Financial instruments	Financial instruments
							The Group	The Charity	The Group	The Charity
							2023	2023	2022	2022
							f	f	E	E
	Carrying amount		offinancial		assets				(Restated)	(Restated)
	Debt instruments		at amortised		cost		553,457	505,338	1,097,380	1,036,150
	Equity instruments		measured		at cost	less
	impairment
	Carrying amount		offinancial		liabilities
	Measured at	amortised		cost			598,937	522,489	1,358,862	522,676
18.	Stock
							The Group	The Charity	The Group	The Charity
							2023	2023	2022	2022
							f	f	E	E
	Goods for resale						28,333		23,989
19.	Debtors
							The Group	The Charity	The Group	The Charity
							2023	2023	2022	2022
							f	f	E	E
	Trade debtors						23,615	1,762	72,123	30,959
	Amounts owed by group undertakings					in
	which the charity		has a participating			interest		112,170		127,082
	Other debtors						15,464	3,739	89,591	86,445
	Prepayments	and	accrued income				28,123	19,373	23,873	23,873
							67,202	137,044	185,587	268,359
20.	Creditors: Amounts		falling due		within	one year
							The Group	The Charity	The Group	The Charity
							2023	2023	2022	2022
									(Restated)	(Restated)
									E	E
	Trade creditors						160,482	107,695	713,102	623,510
	Loan accounts						106,501	106,501	102,111	102,111
	Other taxes and social			security			15,844	15,844	10,818	10,818
	Other creditors						8,876	4,760	35,690	29,096
	Accruals and	Deferred		Income			307,234	287,686	249,251	249,251
							598,937	522,486	1,110,972	1,014,786

21.	Creditors:	Amounts falling due after one year	Amounts falling due after one year	Amounts falling due after one year	Amounts falling due after one year
							The		Group	The Charity	The Group	The Charity
									2023	2023	2022		2022
									f	f	f		f
											(Restated)		(Restated)
	Loan accounts							241,388		241,388	247,889		247,889
								241,388		241,388	247,889		247,889
	At the balance sheet date, Lloyds Bank pic				held a fixed			and	floating	charge over the assets ofthe		charitable
	company	dated 10September 2020.After			the	year-end		the loan was refinanced,			and the charge	was released.
22.	Deferred	income									2023		2022
											f		f
	At 1April	2022									26,841		26,965
	Additions	during		the year							80,767
	Amounts	released		to income							(34,451)		(124)
	At 31March		2023								73,157		26,841
	At the balance sheet date, the charity was holding						funds		received	in advance	in respect of venue		hire and
	ticket sales for events after the balance sheet date.
3.	Unrestricted		Funds
					1April								31March
						2022			Income	Expenditure	Transfers		2023
						f			f	f	f		f
	Unrestricted		-general		(92,467)			2,271,100		(2,064,247)			114,386
	Designated		fund	—Cocozza project	15,000								15,000
					(77,467)			2,271,100		(2,064,247)			129,386
					1April								31March
						2021			Income	Expenditure	Transfers		2022
						f			f	f	f		f
	Unrestricted		—general		(15,294)			1,206,621		(1,283,794)			(92,467)
	Designated		fund	—Cocozza project	15,000								15,000
						(294)		1,206,621		(1,283,794)			(77,467)

			1April				31March
			2022	Income	Expenditure	Transfers	2023
			E	f	f	f	E
			(Restated)
Tangible	fixed assets	fund	4,500,590			(1,780)	4,498,810
Other fund				396,308	(343,040)		53,268
Heritage	Lottery Fund	—Bigger,
Better,	Stronger		(1,780)			1,780
			4,498,810	396,308	(343,040)		4,552,078
			1April				31March
			2021	Income	Expenditure	Transfers	2022
			E	E	E	E	E
							(Restated)
Tangible	fixed assets	fund	2,325,804	2,174,786			4,500,590
Heritage	Lottery Fund	- Bigger,
Better,	Stronger		(1,780)				(1,780)
			2,324,024	2,174,786			4,498,810

												2023		2022
												f		f
	Turnover	and other income									1,394,888			375,214
	Net cost	ofsales	and administrative				expenses				(984,846)		(384,560)
											(10,968)			(9,346)
	Donation	to Inner City Music Limited									(399,074)
	Retained	in subsidiary		for year										(9,346)
	Balance at 31March 2023													(10,967)
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
								2023		2023		2022		2022
								f		f		f		f
	Within one year											981		981
												981		981
28.	Capital commitments
							The Group		The	Charity	The	Group	The	Charity
								2023		2023		2022		2022
								f		f		f		f
	Within one year
29.	Analysis	ofnet assets		between		funds
							General		Designated		Restricted
	The Group 2023							Fund f		Funds f		Funds f		Total f
	Tangible	fixed assets					153,325				4,786,674		4,939,999
	Cash at bank and in hand									15,000	471,255			486,255
	Net current and		non-current
	assets/(liabilities)							(38,939)			(705,851)		(744,790)
							114,386			15,000	4,552,078		4,681,464

Analysis ofnet assets between	Analysis ofnet assets between	funds (continued)
		General	Designated	Restricted
The Group 2022		Fund f	Funds f	Funds f	Total f
					(Restated)
Tangible fixed assets				4,658,835	4,658,835
Cash at bank and	in hand		15,000	896,793	911,793
Net current and non-current
assets/(liabilities)		(88,434)		(1,060,851)	(1,149,285)
		(88,434)	15,000	4,494,777	4,421,343
		General	Designated	Restricted
The Charity 2023		Fund f	Funds f	Funds f	Total f
Tangible fixed assets				4,939,999	4,939,999
Investments					1
Cash at bank and	in hand		15,000	353,294	368,294
Net current and non-current
assets/(liabilities)		120,092		(746,922)	(626,830)
		120,093	15,000	4,546,371	4,681,464
		General	Designated	Restricted
The Charity 2022		Fund	Funds	Funds	Total
		f	f	f	f
					(Restated)
Tangible fixed assets				4,658,835	4,658,835
Investments					1
Cash at bank and	in hand		15,000	752,791	767,791
Net current and non-current
assets/(liabilities)		(77,466)		(916,850)	(994,3161
		(77,466)	15,000	4,494,777	4,432,311

31.	Cash used in operations
							2023	2022
							f	f
								(Restated)
	Net movement in funds						260,121	2,447,613
	Adjustments for:
	Depreciation						26,924	12,748
	Loss on sale oftangible fixed		assets				178
	Movements in working	capital:
	(Increase)/decrease in	stock					(4,344)	(23,989)
	(Increase)/decrease in	debtors					118,385	(143,772)
	Increase/(decrease) in	creditors					(518,536)	827,478
	Net cash (used in)/generated		in operations				(117,272)	3,120,078
32.	Reconciliation ofnet movement			in funds to net	cash flow from	operating activities
					Group	Group	Charity	Charity
					2023	2022	2023	2022
					f	f	f	f
	Net movement in funds				260,121	2,447,613	249,153	2,106,959
	Add: Depreciation				26,924	12,748	26,924	12,748
	Add: Loss on sale oftangible		fixed assets		178		178
	Decrease/(increase) in	stock			(4,344)	(23,989)
	Decrease/(increase) in	debtors			(118,385)	(143,772)	131,315	(210,644)
	(Decrease)/increase in	creditors			(518,536)	827,478	(498,801)	737,811
	Net cash used in operating activities				(117,272)	3,120,078	(91,231)	2,835,874
33.	Net debt reconciliation	-Group -Current year				31March		31March
						2022	Cash flows	2023
						f	f	f
	Cash					911,793	(425,538)	486,255
	Loans falling due within	one year				(102,111)	(4,390)	(106,501)
	Loans falling due after one year					(247,889)	6,501	(241,388)
	Net debt					561,793	(423,427)	138,366

33.	Net debt reconciliation	Net debt reconciliation	-	Group - Prior	year			31March
								2021		31March
									Cash flows	2022
									f	f
	Cash							521,014	390,779	911,793
	Loans falling due within		one year						(102,111)	(102,111)
	Loans falling due after one year								(247,889)	(247,889)
	Net debt							521,014	40,779	561,793
34.	Prior period adjustments			and restatements		-Group				2022 f
	Reconciliation	ofchanges		in unrestricted funds
	As previously	reported								(77,467)
	Loan accounts	previously		treated as grant income
	As adjusted									(77,467)
	Reconciliation	ofchanges		in restricted	funds
	As previously	reported								4,848,810
	Loan accounts	previously		treated as grant income						(350,000)
	As adjusted									4,498,810
	Restatements	ofchanges		in income for the		previous	period
	As previously	reported								3,731,407
	Loan accounts	previously		treated as grant income						(350,000)
	As restated									3,381,407

Prior period adjustments	Prior period adjustments	and restatements	-Charity		2022
					f
Reconciliation	ofchanges	in unrestricted funds
As previously	reported				(68,121)
Loan accounts	previously	treated as grant income
As adjusted					(68,121)
Reconciliation	ofchanges	in restricted funds
As previously	reported				4,850,432
Loan accounts	previously	treated as grant income			(350,000)
As adjusted					4,500,432
Restatements	ofchanges	in income for the	previous	period
As previously	reported				3,356,193
Loan accounts	previously	treated as grant income			(350,000)
As restated					3,006,193