Charity reglstration number NIC104762 Company reglstration number N1033384 (Northern Ireland) MOVING ON MUSIC LIMITED ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
MOVING ON MUSIC LIMITED LEGAL AND ADMINISTRATIVE INFORMATION Tru•t••• M Sharrna M Johnston C Norwood G McGonlgl8 A Irvlne J O'Rellly R Campbell-P8lmar S•cr•tsry M Johnston Charfty numbar NIC104762 Company numb•r N1033384 R•glstsr•d offic• The MAC 10 Exchange Street W88t St Annes Square Belfast Co. Antrim Northem Ireland BT12NJ Independent examlner MB Group Accountants Umited 1- 3 Arthur Street Belfasl Co. Antrirn Northem Ireland BT14GA Bankern Danske Bank Donegall Square West Belfast Co. Antrim Northem Ireland BT1 s
MOVING ON MUSIC LIMITED CONTENTS Pag• TnJ8tee8 report Statement of tru8te88 r88pon81billtles Independent examlnerfs report Statement of financial actlvlties Balance sheet 10 Notes to the financial statements 11-19
MOVING ON MUSIC LIMITED TRUSTEES REPORT (INCLUDING DIRECTORS, REPORT) FOR THE YEAR ENDED 31 MARCH 2025 The trustees (who are also known 88 the dlreclors of the company) preserrt their report and financkl 8tstemorrts for the year ended 31 March 2025. The trustees have adopted the provisions of Accountlng and Reporting ty Charities; Statement of Recommended Practlce applicable to charities preparing their accounts in accordance with Financial Reporting Standard appllcable in the UK and Republoc of Ireland (FRS 102)(effective 1 January 2019). PUBLIC BENEFIT STATEMENT The finandal statement8 have been prepared In accordance wlth the accounting policles set out in the notes to the financlal statements and comply with the charity's goveming document, the Companies Act 2006. and tho Charlties Acl (Northem Ireland) 2008, "The Flnancial Reporting Standard applicable in the UK and Republic of Ireland" and the Charitles SORP "Accounting and Reporting by Charities: Statement of Recommended Praclico applicable to charities preparlng thelr account8 In ac(rdanc• With the Financial Reporting Stsndard appllcable in the UK and Republic of Ireland (FRS 102).. ObJfrctlve• and actlvltles The charity's objects are the promotion, Improvement, development and maintenance of wblic education in and appreciation of the art and science of music in all Its forms. Charftabl• ObJ•ct The advancement of the arts, cultu, heritage or sclence. Publlc Ben•fft The direct benefit to the public which flows from promoting music and advancirKJ educaoon in the is to improve the quality of life of the public, practitioners and participants by: making quality music performances and education projects available to the public leading to inueased public awareness and satisfaction; providing ServIS in support of, and (J)mmissioning the work of kx21 musicians, composers aTh educators allowing them to continue to develop their skills by workings tcwher to produce music for tr public enjoyment; and giving more people the opportunity to participate by removing barriers to attendance at wjth perfomiances for example by producing more local events and under represented artists. Beneficlarieg: people living in Northem Ireland and beyond. Established in 1995, Moving On Music (MOM) is celebrating its 30th anniversary year in 2025. MOM is the leading promoter of jazz, folk, roots, tradttional, dassical and 'other' music across Nl i.e. rnusic that is non-commeraal and needs support, both financially and structuralty. to exist. MOM delNers an annual programme of activity which includes special one-off concerts in Belfast, coordinating and promoting tours auoss Ireland, and delivering Belfast's only jazz festival, Brilliant Comers. MOM implements educats'on OutaCh projects, undertakes event management, programming and consultancy work occasionally in partnership with other organisations and festivals. Additionally, MOM is involved in the development of artists workn.ng in underrepresented music and commissions new work where funds allow. As well as showcasing and developing local talent, MOM is committed to introducing intemational talent to the region, ensuring Belfast (and Nl) is a destination for world dass touring artlsts, and is recognised as an outward looking and diverse music destination. The (x)re ethos and activity of the company continues and new opportunities are explored ensuring MOM continues to flourish. The sector continues to face many difficulties with short-term fvnding at standstill levels (real tems cuts), political uncertainty, the st of living crisis, Brexrt implitions, exiting a pandemic and music industry upheaval all to be considered. he grnatest danger In times of turt>ulence 18 not the tUUlenCe - k Is to act yesterdays . Dnicker
MOVING ON MUSIC LIMITED TRUSTEES REPORT (INCLUDING DIRECTORS, REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Our oJfrBnt $tratoglc plan ha8 tho followlng element8: Vl•lon An exGyting, axplorntive and deeply Int0rn8tlng muslc sedor fh8t V8lu8S and support8 artists. Ml••lon Moving on Music wlll Identify, support and develop 8rt18t8, the fflu8lc sector, and tho fve musk Lfir ovér the next 5 ye813. Valueg Quality drlven Innovative Encouraging Distinct Challenging Proficient Theme• The packaging and MMUniCatIon of MOM'S output falls under the following key themes: Promotlon - essentially this is our live music output. This indudes concerts, tour8, festivals. Experlmentstlon - this indudes new project ideas, creation of new work, and exploring new approaches. This includes commissioning work, new series, One proieds, new partnerships, n ways of delivering activty. Developmentsl - though much of MOM'S work will fall under developmenlal, this theme refers to activty that speafically adVanS artist careers andlor the sedor. This iaudeS agency worK artists development work, sectoral work. All adivity can be further separated into 2 categories; Planned Activity - this is activty MOM has designed in adrdnce and has been induded in the nUal programme {April-March) and presented to funders at application slage. It indudes adivity frorn all three themes. Essentially this is the programme presented to MOM'S core funder, ACNI. Reactive Activity - this is activity not induded in our annual programme but that becomes possible throughout the year. It may be short-term projects, last~minute gigs, or an ad hoc partnership. This may be a replacement for some Planned Activity, or the result of an opportunty arising during the year. This is vital work and it is essential MOM remains reactive and opportunities are not missed throughout Ihe year.
MOVING ON MUSIC LIMITED TRUSTEES REPORT (INCLUDING DIRECTORS, REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Achlov•m•nts and p•rfomianc• Our 2024125 programme was a very busy year for tho organO8atlon. It was an exdting year of exceptlonal music on offer, with a diverse programrne of events. good audience attendance and feedback. It was particularly successful given the financial difficultie8 of rlsing costs, inflation and stagnant core funding. H(wever, a'stiCallY the programme was excellent and well recelved and supported by Nl audiences and partners. Our Brilliant Comers f88tival was the most successful to date wrth recA)rd audl8nce numbers and box office income. 8elow18 an overvlew: Conc•rts Our annual concert programme was artistlcally 8trong, diverse, and attracted strong audience numbers. We presented internalional artists including a number from the USA such as Jolie Holland, Deerhoof, Matana Roberts Artifacts Trio and Julian Lage alongside Ela Orleans (Poland), Vasen (Sweden), La Tène (SwitzerfandlFr8nc8) and Seckou Keita (Senegal). We presented a wide range of UK and Irish artists throughout the yeaf Such as Matilda Lloyd & Alexandra Whittingham (classical), John Francis Flynn (folk), Ajina Bzhezhinsk2's HipHarp Collective (jazz), among many others. We completed the second year of Handmade Music, our monthly improvised and experimerrtal music project in partnership with SARC and Accidental Theatre. This is part of a wider research project and fvnding is secured to develop this series over a five-year period. It has become a vital part of the improvised and experimental music scene in Belfast and continues to attracl regular audiences. Tourfng Our touring programme featured intentionally renowned artists such as Jake Blount Trio (USA), alongside Michael McGoldrick, John Mccusker, John Doyle (UK), Alfi (Ire), Aisling Agnew & Richard Allen (Nl), Chamber Choir Ireland Quartet (IrelNI) and Phil Robson Trio (UK)- Performances t place in Downpatrick, Derry, Omagh, Armagh, Portaferry, Lisbum. Coleraine. Belfast, Portstewar( Rostrevor and Cushendun. We worked wrth Ed Bennett through a PRSF Beyond Borders grant to bfing his large-scale ne work (commissioned by Moving on Music with fvnding support from Arts Council Nl) for his new Decibel ensemble to lrfe. This was a signfficant project, involving ten artists and a new 70minute piece of music. The project toured to London (with partner Daylight Music), Dublin (N6w Music Dublin and Improvised Music Company) and Belfast (as part of Brilliant Comer3).
MOVING ON MUSIC LIMITED TRUSTEES REPORT (INCLUDING DIRECTORS, REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Outr•ach Our outreach actlvlty contlnued wlth hlgh qu811ty 8chool rformanCS and publlc k8PS by Phl Robson, Rose Connolly, Paddy McKeown and Mulu. Our Free Tlme which offer8 regular monthly workshops and meet ups for female and gen minorfty musicians to learn about and develop their Jazz and improvisatlon skills continued under th• guidanc of Mellana Gillard and we are looking at ways to develop thls into 202&26. Brllllant Corn•rn Brllllant Comers festlval contlnued to pr888nt a broad church of Incredible Jazz artlsts, featuring 11 concerts in 8 days, w6th artists featured Including for example Elliot Galvin, Georgia Cecile, Niels 8roos & Jam18 Peet, Sultan Stevenson, Zoh Amba. W8 801d th8 most festival tickets in the festival hlstory this year, with strong tumouts at all festlval events, higher than antlcipated b)x Offi d very posltive feedback from audlence$. We also used a larger capacity venue for two concerts both of which almost sold out. Mlddl• Al•l• The Middle Alsle project ha8 continued to develop. securing 48 performances for artists on the project roster across Ireland, including some kéy slots at key venues right across the island, workiig with a network of 40 venues and bookers across the island, reaching over 7000 audience mernbers. We facilitated two developmental sessions for artists on the project and worked with artists to assist in a wide range of ways, from album planning and releasing new music, working wth labels. negotiating new agreements with larger intemational agencies, funding application guidance arKI licencing advice, etc. Flnanclal rovlow The Annual Report should be read in conjunction with the Financial Ststements frK the yw ervjed 31 2025. In summary, Moving on Music relumed incoming resources of £302,438 of which £208,461 was restricted aTh £93,977 unrestrifAed. The income has increased by £3,568k from 2024. The unrestricted balance caffi8d foThYard to reserve was £127.319 in 2025 a)mpared to £118,715 in 2024. It is the policy of the charity that unrestricted funds whith have not been designated for a speC use should be maintained at a level equivalent to between three and six month's expenditure. The trustees c))nsider Ihal reserves at this level will ensure that, in the event of a signfficant drop in funding, they will be able to continue the charity's current activities while consideration is given to ways in which additK)nal funds may be raised. This lev of reserves has been maintsined throughout the year. The trustees has 8sse8s8d th8 major risks lo whlth tho chartty Is 8xp088d, arKI ar8 satlshd that syst arn place to mitigate exposure to the major rlsks. We continue with our new strategy which has Infonned our annual funding applications and work plans. A key prionty going fOard 18 to work to increase our capacity to realise the fvll potential of the new project 'Mtddl8 Alsle,. We received support from PPL lo do this In the 2024r25 financial year and are gratefvl to hwe received fvrther fvnding to contlnue thi8 work Into 2025r26. Structyr•. gov•rnanu and manag•m•nt Govemlng Document Moving on Music Ltd is a company Ilmited by guarante8 govemed by Its Memorandum & Artides of AssocIan dated 10 December 1997. Moving on Muslc Ltd18 regi8t8red wlth the Nl Charlty Comrnisslon and is recognised as a ¢arity by the Inland Revenuo.
MOVING ON MUSIC LIMITED TRUSTEES REPORT (INCLUDING DIRECTORS, REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 The trustee8, who are also the dlrnctor8 ft)r the purpose of company law, and who served durlng the year were: M Sharma M Johnston C NoNood G McGonlgle A Irvine J O'Reilly R Campbell-Palrner None of the trustees ha8 any benefic181 int8rost in Ihe company. All of the tru8tee8 aro memb8rg of the compary and guarantee to contribute £1 in the event of a wlndlng up. Appolntment of Board Members are elected on an annual basls for a temi of three ye8r8 and on CA)mpletK>n of this temi they may stand for re-election if they so wish. Oryani8ational Structur• The Board appoint the staff acrdIng to the 8trateglc objectives contsined within the Bu81ne88 Plan and the level of fvnd raising achieved. Staffing During the year to 31 March 2025 the company employed 4 staff, alongside freelanr3. 2 full time staff members. 2 part time staff members. Bookkeeping was outsourced to Viable Services. The strategic and financial running of the company was overseen by the board of diredor3 and opefiqtional decisions were made at regular staff meetings. Rlsk Management The charity's members and senior staff have considered the major risks to which the charity is exFosed and have reviewed those risks and established systems and procedures to manage those risks, induding a Risk Register and action plans. The trustees report was approved by the Board of Trustees. M Johnston Trustee ol.iol.IS
MOVING ON MUSIC LIMITED STATEMENT OF TRUSTEES RESPONSIBILITIES FOR THE YEAR ENDED 31 MARCH 2025 Tho tru8te08, who are also the dlrector8 of Movlng on Muslc Llmited for the purpose of company law, ar re8pon8ible for preparing Ihe Trustees Report and the financial statement8 in accordance with applicable kn and Untted Klngdom Accountlng Standards (Unlted Kingdom Generally Acc4pled Accounting Practic). Company law requlres the tru8te88 to prepare fln8ncl818ts18ment8 for each financial year whlch glve a true and fair vlew of the state of affaits of the charlty and of Ihe incoming resources and application of resourc, induding the Income and expenditure, of Iho charltable company for thal year. In preparing these financial statements, the tru8toe8 are requlred to: Select suitable acuuntlng pollcle8 and then apply them consi81ently; - observe the methods and principles in th8 Charities SORP; make judgements and estimates th8t are reasonable and prudent; and prepare the financial statem•nts on the going concem basi8 unle$8 It16 Inapproprfaté to pr88Uff thal Ihe charfty wlll ¢xntinue in operatlon. The trustees are respon8lble for keeplng adequate accountlng r8COfd8 that di8d088 with reasonable accuracy at any time the financial positlon of Ihe charity and enable them to ensure that the financial statements comply wrth the Companies Act 2006. They are also responslble for saf8guardlng the assets of the charty and hence for taking reasonable steps for the prevention and detection of fraud and other irregularitsas.
MOVING ON MUSIC LIMITED INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF MOVING ON MUSIC LIMITED I report to the trustees on my examination of the finandal statements of Moving On Music Llmited for the year ended 31 March 2025. R•8ponsibilltles and basls of rnport As the trustees of the charity (and also its directors for the purposes of company law), you are reskx)nsible for preparation of the financial statements in accordance with the requirements of the Companies Act 2008. Having satisfied myself that the financial statements of the charity are not required to be audit under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of the charity's finanaal statements carried out under section 65 of the Charities Act Northem Ireland 2008 (the 2008 Act). In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 65(9)(b) of the 2008 Act. Independent examlnerfs statement Since the charity's gross income exceeded £250,000 your examiner must be a member of a body listed in the 2CK)8 Art I (x)nfirm that l am qualffied to undertake the examination bec2use l am a member of Institute of Chartered Accountsnts Ireland (CAI), which is one of the listed bodies. I have (x)mpleted my examination. I confirm that no matters have come to my attenlw)n in c(mne(aion with the examination giving me cause to believe that in any material respect: accounting records were not kept in respect of the charty as required by seclion 386 of the CompanRs Ad 21Th. the financial statements do not accord with those records. or the financial statements do not comply with the accounting requirements of section 396 of the Companies Act 2C other than any requirement that the financial statements give a true and fair view, which is not a matter (x)nsidered as part of an independent examination; or the financial statements have not been prepared in accordan with the methods and principles of Ihe Statement of Recommended Practi for accounting and reporting by charities applicable to charities preparing thar financial statements in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102). I have no (%)nrns and have come across no other matters in connectlon with the examination to which attention should be drawn in this report in order to enable a proper understanding of the financial statements to be reached.
MOVING ON MUSIC LIMITED INDEPENDENT EXAMINER'S REPORT (CONTINUED) TO THE TRUSTEES OF MOVING ON MUSIC LIMITED Mlchael Farrell AAB Gmup Accountantg Llmltsd Charternd Accountants Statutory Auditor 1- 3Arthur Street Belfast Co. Antrim BT14GA Northem Ireland Dated: .. .
MOVING ON MUSIC LIMITED STATEMENT OF FINANCIALACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2025 Unr••trlct•d R•gtrlct•d funds fund• 2026 2026 Total Unrn•trlct•d RMtrlct•d fundg funds 2024 2024 Totsl 2026 2024 Not•• Incom• from: Donations and legacies Charitable activities Investments 77 90,991 2,909 77 299,452 2,909 208,481 88,364 2.455 208,051 298,415 2,455 Total Incom• 93,977 208,461 302,438 90.819 208,051 298,870 Expendlturo on: Chantable activities Other expenditure 85.373 208,461 293,834 83.579 7.603 208,051 291,630 7,603 10 Total expendltur• 85.373 208,461 293,834 91.182 208,051 299,233 Net Incomel(expendlture) and movement In funds 8,604 8,604 (363) (363) Reconciliatlon of funds: Fund balances at 1 April 2024 118,715 118,715 119.078 119.078 Fund balances at 31 March 2025 127,319 127,319 118,715 118,715 The statement of financial activities indudes all gains and losses recognised in the year. All ifKa)m8 and expenditure derive from continuing activities.
MOVING ON MUSIC LIMITED BALANCE SHEET AS AT31 MARCH 2025 2026 Not•• Flx•d a•8•ts Tangible as88ts 12 Curr•nt a•8•ts Debtors Cash at bank and In hand 13 43,774 123,403 130,2 167,177 174,864 Cr•dltorn: arnounts falllng duo wlthln on• y•ar 14 (39,858) (55,995) N•t curr•nt as8•ts 127,319 118,889 Totsl a880ts1•88 curr•nt Ilibllltl•• 127,319 118,715 Th• funds ofthe charfty Unrestricted funds 15 127,319 118,715 127,319 118,715 The company is entitled to the exemption from the audit requirement contsined in section 4T1 of the Cornpanies Ad 2006, for the year ended 31 March 2025. The directors acknowledge their responsibilities for 1mplyIng with the requirnents of the Comparmes Ad 21 with respect to accounting records and the preparation of finanaal statements. The members have not required the company to obtain an audit of its financial statements for the year in question in accordan with section 476. These financial statements have been prepared in accordance with the provisK)ns applicable to cx>mpanies sutye to the small companies regirne. The financ4al ststements were approved by the trustees on ..... M Johnston Tru8ts0 J O'Reilly Trustee Company registration number N1033384 (Northem Ireland) 10-
MOVING ON MUSIC LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 Accountlng pollcl•8 Charity Inlomiatlon Moving On Muslc Llmited Is a private company Ilmlted by guarantee Incorporated in Northem Ireland. Th• registered office 18 The MAC, 10 Exchange Street We8t, St Annes Square, Belfast, Co. Antrfm, BT1 2NJ, Northem Ireland. 1.1 Accountlng conv•ntlon The accounts have been prepared In accordance wlth the Companles Act 2006 and 'Accountlng and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts In acc4)rdance with the Financlal Reporting Standard applicable in the UK and Republic of Ireland (FRS 102). (as amended for accounting periods commenclng from 1 January 2019). The charity ig a Public Benefft Entity as defined by FRS 102. The charity has taken advantage of the provision8 In the SORP for charities applylng FRS 102 Updat Bulletln 1 not to prepare a Statement of Cash Flows. The financial statements are prepared in sterling, which is the functlonal currency of the charty. Monetary amounts in these financial statements are rounded to the nearest £. The financial statements have been prepared under the historical cost convention. The prindpal accountlng policies adopted are set out below. 12 Going concern At the time of approving the financial statements, the trustees have a reasonable expectation thal the charity has adequate resources to continue in operational existen for the foreseeable future. Thus the tnEte continue to adopt the going conrn basis of accounting in preparing the financial statements. 1.3 Charitsble funds Unrestricted funds are available for use at the discretion of the trustees in fvrtheran of their tharitable objectives. Restricted funds are subject to specific condttions by donors or grantors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements. 1A Income Income is recognised when the charty is legally entitled to it after any perfomiance conditions have been nrt the amounts can be measured reliably, and it is probable that income will be received. Cash donations are recognised on receipt. Other donations are recognised once the charity has been notrfied of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation. Legacies are recognised on recelpt or otheise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset. 11
MOVING ON MUSIC LIMITED NOTES TO THE FINANCIAL STATEMENT8 (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Accountlng poll¢l•• (Corflni 1.6 ExP•nd1rn Expendlture Is regnised On there 18 a legal or con8tructive obllgation to transfer ecoftomt benefft to Ihlrd paty, it is probable that a transfer of @InOmIC beneffts will be required In settlemerrt, and the arnnI of the obllgation can be measured reliably. Expenditure 16 dassffied by adivity. The cost8 of each aclivity are made up of the total of dIrt CA)sts and Bhared cost8, induding support costs involved in undertaking each actNity. Direct (xjsts attributable to a single activity are allo¢ated directly to that activty. Shared costs which contribute to more than one adith and support costs which are not attributable to a single activity are apportioned between those activitEs on a basis con8lStent with the use of resources. Central staff costs are allocated on the ba8is of time spent, and depreciation charges are allocated on the portion of the assefs use. Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third paty, it Is probable that settlement will be requlred and the amount of the obligation can be m88sured reliabty. 1.6 Tanglblo flxod a888ts Tangible fixed assets are initlally measured at cost and 8ubsequenlty mea8ur8d at cost or valuation, net of depreciation and any impaimient losses. Depreciation is recognised so as to write off the cost or valuation of assets le88 their residual values over their usefvl lives on the following bases: Fixtures and ffttlngs Equipment Motor vehides 33 % straight line 33 % straight line 33 % straight line The gain or loss arising on the disposal of an asset is determined as the drfferencÉ between sale proceed8 and the carrying vaFue of the asset, and is recognised in the statement of financial activitseg. 1.7 Impalrment of fixed assets At each reporting end date, the charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impaimient loss. If any such indration exists, the recx>verable amount of the asset is estimated in order to deterrnine the extent of the impaimient loss (rf any). 1J Cash and cash equlvalents Cash and cash equivalents include cash in hand, deposrts held at call with banks, other short-temi liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shn within borrowings in current liabilities. 1.9 Flnanclal Instruments The charity has elected to apply the provisions of Section 11 'Basic Flnancial Instnjments, and Section 12 'Other Financial Instnjments Issues, of FRS 102 to all of its financial instruments. Flnancial instruments are recognised in the charity's balance sheet when the charty becomes paty to the contractual provisions of the Instrument. Financial assets and liabilities are offset, with the net amounts presented in the financial ststements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously. 12-
MOVING ON MUSIC LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Accountlng pollcle• (Contlnu•d) B•slc flnan¢lal assets Basic financial assets, whlch include debtor8 and cash and bank balances, are initially measured at transaction price including transactlon costs and are sub8equ8ntly carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at Ihe present value of the future receipts di8counted at a market rate of Krterest. Financial assets dassified as receivable wlthin one year are not amortised. 8aslc flnanclal liabllltles Basic financial liabilities, including credltors and bank108n8 are Initl81ty recognised at transaction price unle88 the arrangement constitutes a financlng transaction, where the debt instrument is measured at the present value of the future payments dIsunted at a market rate of interest. Flnandal Ilabilities dassified as payable wlthin one yéar are not amortised. Debt instruments are sub8equ8ntly carrled at amortised c08t, using the effectlve Interest rate rn8th. Trade creditors are obligations to pay for goods or Services that have been acquired in the ordinay course of operations from suppliers. Amounts payable are dassified as current liabilities rf payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method. Derecognitlon of financial Ilabllities Financial liabilities are derecognised when the charty's contractual obligations expire or are dlscharged or cancelled. 1.10 Employee benefits The cost of any unused holiday entitlement is recognised in the period in whlth the employee's servlces are ceived. Temination beneffts are recognised immediately as an expense when the chaiity is demonstrabty (¥)mmitted to terminate the employment of an employee or to provide termination beneffts. Critlcal accounllng estimatss and judgements In the application of the charity's acwunting policies, the trustees are required to make judgements. estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other faCtS that are considered to be relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects cnly that period, or in the period of the revision and future periods where the revision affects both current and future periods. Income from donatlons and legacles Unrnstricted Unr•stricted funds funds 2025 2024 Donations and glfts 13-
MOVING ON MUSIC LIMITED NOTES TO THE FINANCIAL STATEMENT8 (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 ChArftabl• actfvltl Unrn8trletsd R•8trlct•d Total Unr••trk 2020 Totsi 2024 2025 2024 Box officé, Touring Income & Miscellaneou8 Performance related grants 90,991 90,991 88,1Y25 88.025 208,461 208,481 339 208,051 208,3 90,991 208,461 299,452 88,364 208,051 296,415 Analysis by fund Unrestricted funds Restricted fvnds 90,991 90,991 208,461 88,364 88,364 208.051 208,481 208,051 90,991 208,461 299,452 88,364 208,051 296,415 Performance related grants ACNI Core & Programme Belfast City Council Multi Annual Funding PRSF New Music Biennial QUB- Handmade Music Project PRSF Talent Development Partnership Programme ACNI Commissioning Fund 132,969 132,969 139.084 139.084 26,137 15,000 26,137 15,000 26,137 14,030 26,137 14.030 4,355 4,355 339 5.139 15,000 15,000 15,000 15,000 13,C(K) 11,(XX) 13,(Krf) 11,(JJ) 208,461 208,461 339 208,051 208. Income from Inveslrnents Unrostricted Unrestrlcted funds funds 2025 2024 Interest receivable 2,455 14-
MOVING ON MUSIC LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Exp•ndltur• on charltabl• actlvltl Unr•Jtrfct•d Reltrlctod 2026 2026 Totsl Unrn•trlct•d RtrICtsd 2026 2024 2024 Total 2024 Dlr•ct costs Musician Fees. Publicity & Marketing Freelance S81aries Travel, Accommodatlon and Subsislence Production and Equipment costs Training Educalion and Outreach 31,795 89,583 4,297 101,358 4,297 27,805 1,883 8,201 9,555 73,312 3,913 101,117 5,T76 8,201 g)J,670 14,919 89,100 104,019 81,115 3,813 16,50J 20,313 4,605 18,388 22,973 11,165 3,056 19 18,259 29,424 3,056 4,019 8,322 160 2,164 20,518 28,840 5,7CM) 64,787 201,719 266,486 62,875 21Y2,928 265,601 Share of Support and governance costs (800 note 7) Support 11.581 6,742 Govemance 9,025 18,323 9,025 11,954 8,950 5.125 17,079 8.950 85,373 208.461 293,834 83,579 208,051 291.630 Analysis by fund Unrestricted funds Restricted funds 85,373 85,373 208,461 83,579 83,579 208,051 208,461 208.051 85,373 208,461 293,834 83,579 208,051 291,630 15-
MOVING ON MUSIC LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 support co•ts •llocat•d to actlvlU•• 2026 2024 Ront & Room Hlrn Premises & Content8 Insuran Telephone Office Stationary Maintenance and IT Costs Bank Charges Miscellaneous Co8t8 Computer Equipment Depr•clatlon Subscriptions Govemance Costs 6,742 1,806 1,189 6,158 1.674 1,535 134 302 3,216 2,271 277 1.514 8,950 1,248 2,816 2,878 1,234 9,025 27,348 28,029 Analy8•d b•twMn: Support and Governance Costs - Unrestricted Support and Governance Costs - Restricted 20, 6,742 20,gJ4 5,125 27,348 26,029 Governanc• costs comprf8•: Independent Examination fees Bookkeeping 2025 2024 2,590 9,025 Truste None of the trustees (or any persons connecaed with them) received any remuneration or beneffts from the charity during the year. (2024: None) Employoes The average monthly number of employees during the year was: 202S Number 2024 Numb•r Employees There were no employees whose annual remuneratlon was more than £60,(N)O. 18-
MOVING ON MUSIC LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 10 Oth•r •Xp•nd1r• Unr••trlct•d Unmtrlct•d fund8 fvnd• 2025 2024 Bath dated tax to HMRC 7,803 11 Taxatlon The ¢harity Is exempt from tsxation on Its actlvltle8 because all Its Income 58 applted for tharltable purpo808. 12 Tanglbl• flxod a889ts Flxtur•• •nd Equlwmnt ffttlng• Motor v•hklo• Totsl Cost At 1 April 2024 3,373 4,797 7,350 15,520 At 31 March 2025 3,373 4,797 7,350 15,520 Depreciation and lmpa1rnnt At 1 April 2024 Depreciation tharged in the year 3,373 4,751 7,350 15.474 At 31 March 2025 3,373 4,797 7,350 15,520 Carrying amount At 31 March 2024 13 Debtorn 2025 2024 Amounts falling due withln one year Trade debtors and accrued income Other debtors Prepayments 40,492 188 40,152 43.774 17-
MOVING ON MUSIC LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 14 Cr•dltor•: amounts falllng du• wlthln on• y•ar 2026 2024 Not•• Other taxation and Sodal 88rIty Deferred income Trade creditors Other creditor8 Acrruals 7,796 30,420 3,447 2,513 11,819 16,714 7,771 8,785 39,858 55,995 16 Unr•8trlctsd fund• The unrestricted funds of the charlty compr188 the unexpended balanc88 of donations and grants whlch are not subject to specific conditions by donors and grantors as to how they may be used. These indude designated funds which have been set aside out of unrestricted fund8 by the trustees for specific purposes. At 1 Aprfl 2024 Incomlng Resources At 31 March rnsourc•8 •xpended 2025 General fvnds 118.715 93,9T7 (85.373) 127.319 Prnvlous yoar At 1 Aprfl 2023 Incoming Resources At 31 March resources expended 2024 General fvnds 119,078 90,819 (91.182) 118,715 16 Anaty8is of net assets between funds Unrestrlctod funds 2025 At 31 March 2025: Current assets/(liabilities) 127,319 127,319 18-
MOVING ON MUSIC LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 16 Anal19 of n•t a•••ts b•tw•on fund• (Conllnu•d) Unmtrictod fund• 2024 At 31 Mah 2024: Tangible assets Current assets/(liabllltles) 118,689 118,715 17 R•latod party transactlon• Thern were no dlsdopAble related party transactlon8 durlng the year (2024 - none). 19-