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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|||
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|||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|
##
##
##
|15.|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||
##
##
##
|30.|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|
##
##
|35.|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|