CHILTERN MUSIC THERAPY COMMUNITY INTEREST COMPANY
CHILTERN MUSIC THERAPY COMMUNITY INTEREST COMPANY
CHILTERN MUSIC THERAPY COMMUNITY INTEREST COMPANY
Company limited by guarantee
Company Registration Number:
07702358 (England and Wales)
Unaudited statutory accounts for the year ended 31 July 2020
Period of accounts
Start date: 1 August 2019
End date: 31 July 2020
CHILTERN MUSIC THERAPY COMMUNITY INTEREST COMPANY
Contents of the Financial Statements
for the Period Ended 31 July 2020
Directors report | |
Balance sheet | |
Additional notes | |
Balance sheet notes | |
Community Interest Report |
CHILTERN MUSIC THERAPY COMMUNITY INTEREST COMPANY
Directors' report period ended
The directors present their report with the financial statements of the company for the period ended 31 July 2020
Principal activities of the company
Directors
The directors shown below have held office during the whole of the period from
1 August 2019 to 31 July 2020
The above report has been prepared in accordance with the special provisions in part 15 of the Companies Act 2006
This report was approved by the board of directors on
And signed on behalf of the board by:
Name:
Status: Director
CHILTERN MUSIC THERAPY COMMUNITY INTEREST COMPANY
Balance sheet
As at
Notes | 2020 | 2019 | |
---|---|---|---|
| £ | £ | |
Fixed assets | |||
Tangible assets: | 3 | | |
Total fixed assets: | | | |
Current assets | |||
Stocks: | 4 | | |
Debtors: | 5 | | |
Cash at bank and in hand: | | | |
Total current assets: | | | |
Creditors: amounts falling due within one year: | 6 | ( | ( |
Net current assets (liabilities): | | | |
Total assets less current liabilities: | | | |
Creditors: amounts falling due after more than one year: | 7 | ( | |
Total net assets (liabilities): | | | |
Members' funds | |||
Profit and loss account: | | | |
Total members' funds: | | |
The notes form part of these financial statements
CHILTERN MUSIC THERAPY COMMUNITY INTEREST COMPANY
Balance sheet statements
The directors have chosen not to file a copy of the company's profit and loss account.
This report was approved by the board of directors on
and signed on behalf of the board by:
Name:
Status: Director
The notes form part of these financial statements
CHILTERN MUSIC THERAPY COMMUNITY INTEREST COMPANY
Notes to the Financial Statements
for the Period Ended 31 July 2020
-
1. Accounting policies
Basis of measurement and preparation
These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102 Turnover policy
Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of theconsideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:Rendering of servicesRevenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the followingconditions are satisfied:the amount of revenue can be measured reliably;it is probable that the Company will receive the consideration due under the contract;the stage of completion of the contract at the end of the reporting period can be measured reliably; andthe costs incurred and the costs to complete the contract can be measured reliably. Tangible fixed assets depreciation policy
Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that isdirectly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.Depreciation is provided on the following basis:Office equipment - 25% per annumThe assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reportingdate.Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss. Intangible fixed assets amortisation policy
Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairmentlosses.All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years. Valuation information and policy
Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.At each reporting date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss. Other accounting policies
DebtorsShort term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently atamortised cost using the effective interest method, less any impairment.Cash and cash equivalentsCash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments thatmature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.CreditorsShort term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequentlyat amortised cost using the effective interest method.
CHILTERN MUSIC THERAPY COMMUNITY INTEREST COMPANY
Notes to the Financial Statements
for the Period Ended 31 July 2020
-
2. Employees
2020 2019 Average number of employees during the period 34 26
CHILTERN MUSIC THERAPY COMMUNITY INTEREST COMPANY
Notes to the Financial Statements
for the Period Ended 31 July 2020
3. Tangible assets
Land & buildings | Plant & machinery | Fixtures & fittings | Office equipment | Motor vehicles | Total | |
---|---|---|---|---|---|---|
Cost | £ | £ | £ | £ | £ | £ |
At 1 August 2019 | | | ||||
Additions | | | ||||
Disposals | ||||||
Revaluations | ||||||
Transfers | ||||||
At 31 July 2020 | | | ||||
Depreciation | ||||||
At 1 August 2019 | | | ||||
Charge for year | | | ||||
On disposals | ||||||
Other adjustments | ||||||
At 31 July 2020 | | | ||||
Net book value | ||||||
At 31 July 2020 | | | ||||
At 31 July 2019 | | |
CHILTERN MUSIC THERAPY COMMUNITY INTEREST COMPANY
Notes to the Financial Statements
for the Period Ended 31 July 2020
4. Stocks
2020 | 2019 | |
---|---|---|
£ | £ | |
Stocks | | |
Total | | |
CHILTERN MUSIC THERAPY COMMUNITY INTEREST COMPANY
Notes to the Financial Statements
for the Period Ended 31 July 2020
5. Debtors
2020 | 2019 | |
---|---|---|
£ | £ | |
Trade debtors | | |
Prepayments and accrued income | | |
Other debtors | | |
Total | | |
CHILTERN MUSIC THERAPY COMMUNITY INTEREST COMPANY
Notes to the Financial Statements
for the Period Ended 31 July 2020
6. Creditors: amounts falling due within one year note
2020 | 2019 | |
---|---|---|
£ | £ | |
Trade creditors | | |
Taxation and social security | | |
Accruals and deferred income | | |
Other creditors | | |
Total | | |
CHILTERN MUSIC THERAPY COMMUNITY INTEREST COMPANY
Notes to the Financial Statements
for the Period Ended 31 July 2020
7. Creditors: amounts falling due after more than one year note
2020 | ||
---|---|---|
£ | ||
Bank loans and overdrafts | | |
Total | |
COMMUNITY INTEREST ANNUAL REPORT
CHILTERN MUSIC THERAPY COMMUNITY INTEREST COMPANY
Company Number: 07702358 (England and Wales)
Year Ending: 31 July 2020
In light of the COVID pandemic in 2020, Chiltern Music Therapy had a significant downturn in business from March 2020 onwards. Partial sales were recovered resulting in turnover largely matching that of the previousfinancial year. Throughout March and April 2020, we converted 50% of our services to online delivery.The total amount of directly subsidised sessions from the organisation, was just over £14,000 with additional services and projects continuing to be commissioned and funded by the education, care and public healthsectors, as well as the private healthcare sector. Over 2300 people received Music Therapy or Community Music sessions this year, in one to one and group sessions, 1250 were children and young people.Our full service delivery now includes Music Therapy, Neurologic Music Therapy, MATADOC assessment (diagnosis of patients in low awareness states), Community Music, Neonatal Intensive Care Music Therapy,iPod Pharmacy, Arts in Health, Training and Workshops – for Music Therapists, Legal Professionals and also for other health, education or social care professionals. Our fundraising efforts have continued and with the support of local donors, national grants and fundraising from private schools, the donations have allowed the organisation to remain financially stable, provide pro bono services and launch innovative projects in the music therapy sector.
We have continued to meet with our stakeholders (our staff and our clients); at the end of the financial year, the organisation had a team of 44 staff, including Music Therapists, Community Musicians and our office team. The organisation utilised the Job Retention Scheme throughout the lockdown months in 2020, but at the end of this financial year, there are just a few members staff using flexible furlough. The organisation also took a Bounce Back Loan to protect payroll payments, and this is predicted to be paid in full by May 2021.This year saw a transformation to self-management and in this new business model our operations team now consists of teams who are responsible for fundraising, HR support, business development, and service delivery. They are supported by all members of the wider staff team, whose roles cover development activities in addition to clinical work. Our existing finance services are covered by a part-time Bookkeeper and a Finance Manager who works with us 2 days a month. In addition, pods have been formed to centralise the work of our musicpractitioners and these are based geographically around the country.To remain in touch with the current sector needs and research we are members of Public Health England and Arts in Health panels, as well as membership on the Health and Care Professions Council.The Research Committee continues to flourish and whilst the pandemic halted planned research pilots for this year, we continue to work with our existing national and international connections and have planned research work in the pipeline for next year.Following the success of our training program, we have expanded our training courses to music therapy practitioners, music therapy students and wider healthcare practitioners. The organisations training offer isgrowing and developing and will continue to develop next year to reach a wider impact, and sustainably support revenue.
Please see Full Accounts
No transfer of assets other than for full consideration
This report was approved by the board of directors on
21 April 2021
And signed on behalf of the board by:
Name: Rebecca Atkinson
Status: Director