Charity number: SC047601
DD8 Music
(Scottish Charitable Incorporated Organisation)
Trustees’ Report and Financial Statements For the Year Ended 31 July 2024
DD8 Music (Scottish Charitable Incorporated Organisation)
Contents
| Page | |
|---|---|
| Reference and administrative details of the charity, its trustees’ and advisers | 1 |
| Trustees’ report | 2-7 |
| Accountant’s report | 8 |
| Statement of financial activities | 9 |
| Balance sheet | 10 |
| Notes to the financial statements | 11-15 |
DD8 Music (Scottish Charitable Incorporated Organisation)
Reference and Administrative Details of the Charity, its Trustees’ and Advisers
Year ended 31 July 2024
Trustees
Charity registered number
SC047601
Principal office
29 Bellies Brae, Kirriemuir, Angus, DD8 4EB
Accountant
AMS Accounting, 3 High Street, Kirriemuir, Angus, DD8 4EY
Trustees’ Report
1
DD8 Music (Scottish Charitable Incorporated Organisation)
Year ended 31 July 2024
-
End of year report, August 23 – July 2024
-
1.1. The year 2023/24 provided an opportunity to build on the momentum of previous years, strengthen DD8 Music’s position, and shape plans for the future. While the year brought its share of challenges - particularly in the form of a difficult external financial climate - it also encouraged creative thinking. More than ever, the demand for our core services, offering music and arts opportunities to young people, has proven to be essential.
-
Core provision
-
2.1. DD8 Music ran over 500 separate sessions across the year, with its suite comprising of:
| Title | Description | Frequency | Target age |
|---|---|---|---|
| Youth Group | General Music & Art hang out space |
Weekly | Under 16s |
| Creative Escape |
Creative Therapy | Weekly | Under 16s |
| Beyond the Stage |
Group music project - music learning/band creation/live performances (various locations) |
Weekly | Under 16s and 16+ groups |
| JamShed | Adult mental health music groups (various locations) |
Weekly | 16+ |
| Open Studio | General Music Jam sessions | Weekly | Under 16s |
| Bass Group | Bass Guitar Tuition | Weekly | Under 16s |
| Guitar Group | Acoustic/Electric Guitar tuition | Weekly | Under 16s |
| Make Some Noise |
12-week Music and Video Project | Weekly | Over 16s |
| DJ Discovery | DJ Learning course and taster sessions |
Weekly and occasional |
Under 18s |
| Open Studio | General hangout space and music jam sessions |
Weekly | Under 16s |
| Hit Record | Podcast Project | Fortnightly | Under 18s |
| Camera Club | Photography Tuition | Weekly | Under 16s |
| The Overlords | Youth Committee meetings | Monthly | 16+ |
2
DD8 Music (Scottish Charitable Incorporated Organisation)
- 2.2. DD8 Music has, over the period, directly interacted with 378 young people in the community. In terms of participant numbers, DD8 Music’s most successful sessions were:
2.3.
| Number | Title | Participant numbers | % of total |
|---|---|---|---|
| 1 | Youth Group | 79 | 13.37% |
| 2 | DJ Discovery | 61 | 10.32% |
| 3 | Open Studio | 59 | 9.98% |
-
2.4. Our geographic reach was considerably bigger than in previous times, with DD8 Music now offering sessions in:
-
a. Kirriemuir
-
b. Forfar
-
c. Montrose
-
d. Brechin
-
e. Carnoustie
-
f. Arbroath
-
g. Monifieth
3
DD8 Music (Scottish Charitable Incorporated Organisation)
2.5. Participants in our sessions have contributed to an amazing number of high quality outputs, ranging from films, photos, music, art and events.
-
Events
-
3.1. Events remain at the heart of everything we do at DD8 Music. Our main event, Bonfest, is supported by a number of other small events throughout the year, including ‘Live at the Den’. All of our events offer opportunities for young people to be involved in all aspects of large scale events.
Bonfest
-
3.2. Bonfest returned to the Kirriemuir Showgrounds on the first weekend in May. Bonfest continues to have a significant financial impact and represents a considerable success for DD8 Music as an organisation, as well as the reach for Kirriemuir, and Angus, and indeed further.
-
3.3. Bonfest continues to gain attention from the National Press with several articles covering the festival being produced
Bonfest 2024 by the Angus Youth Media Team | Young Scot
Bonfest 2024 Band Line-Up | The Courier
Bonfest set to be the biggest yet | Invest in Angus
Bonfest young rockers set for slot at festival | Fife Today
-
3.4. Bonfest ‘24 had a very strong attendance with 1200 attending the main festival site on Friday, 1600 on Saturday and 1200 on Sunday. Bonfest continues to attracts visitor from all over the world with 37 countries represented, including:
-
h. United Kingdom
-
i. Germany
-
j. Holland
-
k. America
-
l. Spain
3.5. The festival would not be possible without the support (financial or ‘in kind’) to our sponsors, namely:
-
m. Gill Financial
-
n. Thrums Hotel
-
o. Angus Alarms
-
p. Winter & Simpson Print
-
q. Duellist Drums
-
r. AMP Vehicle Hire
-
s. All of the organisations who took up advertising space within the festival programme
3.6. Bonfest ‘24 also represented a transition year, with a number of the original committee deciding to step down from their roles. As we plan for the future, and future festivals, we thank them all for their hard work and dedication over the years to take the festival to where it is today.
3.7. The level of profit, for the amount of risk is a difficult balancing act for the DD8Music to sustain, and considerable work has taken place, with the local community, elected officials and Angus Council to a different financial model, which still allows the festival to continue, but reduces the risk to the charity.
4
DD8 Music (Scottish Charitable Incorporated Organisation)
-
Scottish Museum of Rock Music
-
4.1. The museum project remains in state of delay with several issues arising around the project. All avenues currently being explored.
-
Governance
-
5.1. 2023/2024 marked a significant period of transition for the organisation, particularly in terms of governance. There was a major change in the board setup with Campbell Archibald stepping into the role of Chair. The organisation has been adjusting to its evolution into a larger and more complex charity, which has brought new challenges and responsibilities.
-
5.2. The organisation, for a number of reasons, outwith its control, had a number of trustees stand down through the year, providing challenges for its operations. Whilst remaining compliant, there was considerable pressure on the remaining board members to ensure that the organisation could take advantage of available opportunities, provide appropriate challenges and ensure that the organisation remained on a stable and sustainable financial level. There has also been a considerable amount of work undertaken to understand skills shortages and to take appropriate action in order to cover these and new Trustees have now joined the team.
-
5.3 The Trustees made a significant decision to establish a youth committee, The Overlords . This marked a shift from the previous approach of appointing a young person as Vice-Chair, which proved challenging due to the complexity of board meetings. The new structure allows for a more thoughtful and inclusive approach to youth engagement. The committee has grown significantly in the last year, expanding from 6 to 12 members and continues to grow. The group meets monthly to discuss the charity’s direction and make decisions that directly impact how DD8 Music is run and how they experience it as young people. This ensures they are at the forefront of decision-making and that DD8 remains a place where they feel safe, heard, and empowered to express themselves. Participation also provides valuable skill-building opportunities, including experience in chairing meetings, minute-taking, planning, teamwork, and leadership - all of which contribute meaningfully to their personal development and future prospects.
6. Volunteers
-
6.1. Volunteers remain at the heart of everything we do at DD8Music and are extremely important to all our activities.
-
6.2. Over 2023/24 DD8Music had 23 registered volunteers. This number does not include the 100 local volunteers who were directly involved with Bonfest.
-
Staff
-
7.1. Over 2023/24 the organisation underwent a significant restructuring to better align with our evolving goals and activities. This allowed our paid staff to have more dedicated time to absorb much of the organisation of our festival Bonfest and creating new leadership and promotion opportunities within the charity. We also welcomed two new members of staff at the end of the year: a new Youth Development Worker, and a new Volunteer Coordinator. Both have fitted seamlessly into the team and made valuable contributions to the charity’s work. In addition, we were delighted to have a former young person rejoin us
5
DD8 Music (Scottish Charitable Incorporated Organisation)
over the summer as a Youth Development Worker before returning to university, gaining hands-on experience and continuing their journey with us. This new structure and team dynamic have strengthened our ability to deliver on our aims and support the community more effectively. The current team is comprised of:
----- Start of picture text -----
7.1.1.
7.1.2.
7.1.3.
7.1.4.
7.1.5.
----- End of picture text -----
-
7.2. Supporting our staff to be the best that they can be is an important ethos underpinning the organisation, and to that end, we have supported our staff develop themselves through: 7.2.1. British Sign Language
- 7.2.2. PVG Training
-
7.3. In addition, DD8Music have a dedicated staff wellbeing fund funded by Youth Music. In 2024/25, this has supported staff through: 7.3.1. Team Building via social activities as directed by them
-
Finance
-
8.1. The accounts presented in this annual report present an extremely healthy position, however this position is somewhat misleading, as the reserve that DD8Music holds provides the capital outlay for Bonfest.
-
8.2. The charity continues to be successful at obtaining funding from grant funders. Our main funders for 2023/24 were
-
8.2.1. National Lottery
-
8.2.2. Youth Music
-
8.2.3. Volunteer Support Fund
-
8.2.4. Scottish MHWB fund
-
6
DD8 Music (Scottish Charitable Incorporated Organisation)
-
8.3. Increasing costs of utilities and employment, and putting on a significant festival such as Bonfest will mean that future finances will be come under pressure. If not managed properly could lead to a significant decrease in the available funds for the charity. The DD8 Manager has worked with the board to ensure that there is a common understanding of the banking, funds and has instated appropriate mechanisms to ensure spending can be minimised, where possible.
-
Future plans
-
9.1. 2024/25 will be an important year for DD8 Music. As some of our grant funding begins to run out, it will be important to obtain more to replace it, as well as to ensure and grow the income streams that currently exist
-
9.2. It is expected that during 2024/25, work will start on a number of plans to reduce the risk to DD8Music, and to allow the organisation to flourish for the future.
7
DD8 Music (Scottish Charitable Incorporated Organisation)
Trustees’ Report
Year ended 31 July 2024
Financial Review
Reserves Policy,
The trustees believe that the general fund provides a sufficient fund to allow the SCIO to continue to meet any liabilities as they fall due within the next 12 months.
Structure, governance and management
Constitution
DD8 Music, which is a registered charity in Scotland, has a constitution approved by the Office of the Scottish Charity Regulator. The Scottish charity number is SC047601.
Method of appointment or election of trustees
The management of the charity is the responsibility of the Trustees who are elected and co-opted under the terms of the Trust deed.
This report was approved by the Trustees, on ....................... and signed on their behalf by:
Chairperson
8
DD8 Music (Scottish Charitable Incorporated Organisation)
Accountants' report to the trustees
Year ended 31 July 2024
These financial statements have been prepared in accordance with our terms of engagement and in order to assist you to fulfil your duties under the Charities (Scotland) Regulations 2006 that relate to preparing the financial statements of the charity for the year ended 31 July 2024.
The charity’s Trustees are responsible for the preparation of the financial statements in accordance with the terms of the Charities and Trustees Investment (Scotland) Act 2005 (the Act) and the Charities Accounts (Scotland) Regulations 2006 (the Accounts Regulations). The Trustees consider that the audit requirement of Regulation 10(1) (a) to (c) of the Accounts Regulations does not apply. We have prepared these financial statements based on the accounting records, information and explanations provided by you. We do not express any opinion on the financial statements.
The financial statements are provided exclusively to the trustees for the limited purpose mentioned above and may not be used or relied upon for any other purpose or by any other person, and we shall not be liable for any other usage or reliance.
Signed:
Dated: 24[th] April 2025
AMS Accounting Ltd
3 High Street
Kirriemuir Angus
DD8 4EY
9
DD8 Music (Scottish Charitable Incorporated Organisation)
Statement of Financial Activities Incorporating Income and Expenditure Account
Year ended 31 July 2024
| Note Income and Endowments from: Donations and legacies 2.0 Charitable activities 3.0 Total Income and Endowments Expenditure on: Charitable activities 4.0 7.0 Total expenditure Net income (Expenditure) before transfers Transfers between funds Net income before other recognised gains and losses Net movement in funds Reconciliation of funds: Total funds brought forward Total funds carried forward |
Restricted funds 2024 Unrestricted funds 2024 Total funds 2024 Total funds 2023 |
|---|---|
| 42,807 92,005 134,812 96,214 - 213,070 213,070 417,743 |
|
| 42,807 305,075 347,882 513,957 |
|
| (20,461) (350,942) (371,403) (398,274) |
|
| (20,461) (350,942) (371,403) (398,274) |
|
| - - - (51,661) |
|
| 22,346 (45,867) (23,521) 64,021 |
|
| 22,346 (45,867) (23,521) 64,021 114,661 146,227 260,888 196,867 |
|
| 137,007 100,360 237,367 260,888 |
The notes on pages 10 to 14 form part of these financial statements.
10
DD8 Music (Scottish Charitable Incorporated Organisation)
Balance Sheet
As at 31 July 2024
| Fixed Assets Note Tangible assets 8.0 Current Assets Debtors 9.0 Cash at bank and in hand Creditors Due within one year 10.0 Net Current Assets Net Assets Charity Funds Restricted funds 1 Unrestricted funds Total funds |
2024 62,950 168,529 168,529 (1,440) 167,089 230,039 137,007 93,032 230,039 |
2023 |
|---|---|---|
| 62,950 12,500 186,638 199,138 (1,200) 197,938 |
||
| 260,888 | ||
| 160,966 99,922 |
||
| 260,888 |
The financial statements were approved by the Trustees on ........................ and signed on their behalf, by:
Chairperson
The notes on pages 11 to 15 form part of these financial statements.
11
DD8 Music (Scottish Charitable Incorporated Organisation)
Notes to the Financial Statements
Year ended 31 July 2024
Accounting Policies
1.1 Basis of preparation of financial statements
The financial statements have been prepared under the historical cost convention with items recognized at cost or transaction value unless otherwise stated in the relevant notes to these accounts. The financial statements have been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) issued on 16 July 2014 and Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and The Charities Accounts (Scotland) Regulations 2006.
DD8 Music (Scottish Charitable Incorporated Organisation) constitutes a public benefit entity as defined by FRS 102.
1.2 Income
All income is recognised once the charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.
Donated services or facilities are recognised when the charity has control over the item, any conditions associated with the donated item have been met, the receipt of economic benefit from the use of the charity of the item is probable and that economic benefit can be measured reliably. In accordance with the Charities SORP (FRS 102), the general volunteer time of the Friends is not recognized and refer to the Trustees’ report for more information about their contribution.
On receipt, donated professional services and donated facilities are recognized on the basis of the value of the gift to the charity which is the amount the charity would have been willing to pay to obtain services or facilities of equivalent economic benefit on the open market; a corresponding amount is then recognized in expenditure in the period of receipt.
1.3 Expenditure
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to the activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use.
Support costs are those costs incurred directly in support of expenditure on the objects of the charity and include project management carried out at Headquarters. Governance costs are those incurred in connection with administration of the charity and compliance with constitutional and statutory requirements.
12
DD8 Music (Scottish Charitable Incorporated Organisation)
Charitable activities and Governance costs are costs incurred on the charity’s operations, including support costs and costs relating to the governance of the charity apportioned to charitable activities.
1.4 Tangible fixed assets and depreciation
Tangible fixed assets are carried at cost, net of depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost of fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant and machinery - 20% Straight Line
1.5 Debtors
Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.
1.6 Cash at Bank and in hand
Cash at bank and in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.
1.7 Liabilities and provisions
Liabilities are recognized when there is an obligation at the Balance Sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably. Liabilities recognized at the amount that the charity anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide. Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised within interest payable and similar charges.
1.8 Financial instruments
The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.
1.9 Pensions
The charity operates a defined contribution pension scheme, and the pension charge represents the amounts payable by the charity to the fund in respect of the year.
1.10 Fund accounting
General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the charity and which have not been designated for other purposes.
Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the charity for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.
13
DD8 Music (Scottish Charitable Incorporated Organisation)
2.0 Income from Donations and Legacies
| Donations and Grants Total |
Restricted funds 2024 Unrestricted funds 2024 Total funds Total funds 2024 2023 |
|---|---|
| 42,807 90,272 133,079 93,977 |
|
| 42,807 102,772 145,579 93,977 |
3.0 Analysis of Income from Charitable Activities by Type of Income
| Bonfest income Other festival and studio income Total |
Restricted funds 2023 Unrestricted funds 2023 Total funds 2024 Total funds 2023 - 223,070 223,070 419,980 - - - - |
|---|---|
| - 223,070 223,070 419,980 |
4.0 Direct Charitable Activity Costs
| Grant related expenditure Bonfest expenses Studio expenses Total |
Community access to musical and cultural activities Total 2024 Total 2023 |
|---|---|
| 20,461 20,461 21,410 204,090 204,090 214,807 5,556 5,556 11,917 |
|
| 230,107 230,107 248,134 |
14
DD8 Music (Scottish Charitable Incorporated Organisation)
5.0 Support Costs
| Insurance Printing, postage and stationery Repairs and maintenance Subscriptions Storage costs Accountancy fees Bank charges Wages and salaries Other Depreciation Total .0 Governance Costs Independent accountant .0 Staff Costs Wages and salaries |
Governance Community access to musical and cultural Total 2024 Total 2023 activities |
|
|---|---|---|
| - - - - - - 937 937 485 2,320 2,320 3,250 960 960 960 1,680 1,680 1,269 823 823 695 129,111 129,111 132,492 21,060 21060 9,585 - - 1,404 |
||
| 1,680 155,211 156,891 150,140 |
||
| Restricted funds 2024 Unrestricted funds 2024 Total funds 2024 Total funds 2023 - 1,680 1,269 |
||
2024 2023 129,112 132,492 |
6.0 Governance Costs
7.0 Staff Costs
8.0 Tangible Fixed Assets
| Cost At 1 August 2023 At 31 July 2024 Depreciation At 1 August 2023 Charge for the year At 31 July 2024 Net Book Value |
Plant and Machinery 72,486 |
|---|---|
| 72,486 | |
| 9,536 - |
|
| 9,536 | |
15
DD8 Music (Scottish Charitable Incorporated Organisation)
| At 31 July 2024 At 31 July 2023 |
62,950 |
|---|---|
| 62,950 |
9.0 Debtors
| ebtors | |
|---|---|
| Other debtors Prepayments and accrued income |
2024 2023 |
| - 12,500 - - |
|
| 12,500 12,500 |
10.0 Creditors
| 0.0 Creditors | |
|---|---|
| Accruals and deferred income | 2024 2023 |
| 1,440 1,200 |
11.0 Pension Commitments
The charity operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the charity in an independently administered fund.
The pension cost charge represents contributions payable by the charity to the fund and amounted to £7,865.
16