THE INDEPENDENT MUSIC SUPPORT CIC

Company limited by guarantee

Company Registration Number:
13715970 (England and Wales)

Unaudited statutory accounts for the year ended 30 November 2022

Period of accounts

Start date: 1 November 2021

End date: 30 November 2022

THE INDEPENDENT MUSIC SUPPORT CIC

Contents of the Financial Statements

for the Period Ended 30 November 2022

Directors report
Balance sheet
Additional notes
Balance sheet notes
Community Interest Report

THE INDEPENDENT MUSIC SUPPORT CIC

Directors' report period ended 30 November 2022

The directors present their report with the financial statements of the company for the period ended 30 November 2022

Principal activities of the company

The principal activity of the company in the period under review was that of charitable services.



Directors

The director shown below has held office during the period of
3 October 2022 to 30 November 2022

Georgia Riley


The director shown below has held office during the period of
7 December 2021 to 3 October 2022

Alex Thompson


The director shown below has held office during the period of
7 December 2021 to 24 January 2022

Ekaterina Surudina


The director shown below has held office during the whole of the period from
1 November 2021 to 30 November 2022

Adrian Norman


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
31 October 2023

And signed on behalf of the board by:
Name: Adrian Norman
Status: Director

THE INDEPENDENT MUSIC SUPPORT CIC

Balance sheet

As at 30 November 2022

Notes 13 months to 30 November 2022


£
Fixed assets
Intangible assets:   0
Tangible assets:   0
Investments:   0
Total fixed assets: 0
Current assets
Stocks:   0
Debtors: 3 557
Cash at bank and in hand: 2,598
Investments:   0
Total current assets: 3,155
Prepayments and accrued income: 0
Creditors: amounts falling due within one year: 4 ( 2,383 )
Net current assets (liabilities): 772
Total assets less current liabilities: 772
Creditors: amounts falling due after more than one year:   0
Provision for liabilities: 0
Accruals and deferred income: 0
Total net assets (liabilities): 772
Members' funds
Profit and loss account: 772
Total members' funds: 772

The notes form part of these financial statements

THE INDEPENDENT MUSIC SUPPORT CIC

Balance sheet statements

For the year ending 30 November 2022 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

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 31 October 2023
and signed on behalf of the board by:

Name: Adrian Norman
Status: Director

The notes form part of these financial statements

THE INDEPENDENT MUSIC SUPPORT CIC

Notes to the Financial Statements

for the Period Ended 30 November 2022

  • 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

    Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and/or from the rendering of services.Turnover from the rendering of charitable services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.

    Other accounting policies

    TaxationTaxation for the period comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.Current or deferred taxation assets and liabilities are not discounted.Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

THE INDEPENDENT MUSIC SUPPORT CIC

Notes to the Financial Statements

for the Period Ended 30 November 2022

  • 2. Employees

    13 months to 30 November 2022
    Average number of employees during the period 0

THE INDEPENDENT MUSIC SUPPORT CIC

Notes to the Financial Statements

for the Period Ended 30 November 2022

3. Debtors

13 months to 30 November 2022
£
Trade debtors 212
Prepayments and accrued income 0
Other debtors 345
Total 557
Debtors due after more than one year: 0

THE INDEPENDENT MUSIC SUPPORT CIC

Notes to the Financial Statements

for the Period Ended 30 November 2022

4. Creditors: amounts falling due within one year note

13 months to 30 November 2022
£
Bank loans and overdrafts 0
Amounts due under finance leases and hire purchase contracts 0
Trade creditors 0
Taxation and social security 181
Accruals and deferred income 2,202
Other creditors 0
Total 2,383

COMMUNITY INTEREST ANNUAL REPORT

THE INDEPENDENT MUSIC SUPPORT CIC

Company Number: 13715970 (England and Wales)

Year Ending: 30 November 2022

Company activities and impact

The CIC operates a fundraising lottery - The Music Lotto - in partnership with an External Lottery Manager. The proceeds will be used to support music charities, artists and venues locally and nationally, in particular those involved in the creation and promotion of independent music.The CIC will benefit the wider community by enabling the continued existence of music venues which enable people to enjoy live music, and which also contribute to the economy by (for example) employing staff.

Consultation with stakeholders

No consultation with stakeholders

Directors' remuneration

No remuneration was received

Transfer of assets

No transfer of assets other than for full consideration

This report was approved by the board of directors on
21 November 2023

And signed on behalf of the board by:
Name: Adrian Norman
Status: Director