for the Period Ended 31 March 2024
Directors report | |
Profit and loss | |
Balance sheet | |
Additional notes | |
Balance sheet notes | |
Community Interest Report |
Directors' report period ended
The directors present their report with the financial statements of the company for the period ended 31 March 2024
Directors
The directors shown below have held office during the whole of the period from
1 April 2023 to 31 March 2024
The director shown below has held office during the period of
1 April 2023 to 6 December 2023
The directors shown below have held office during the period of
17 May 2023 to 31 March 2024
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
for the Period Ended
2024 | 2023 | |
---|---|---|
| £ | £ |
Turnover: | | |
Cost of sales: | ( | ( |
Gross profit(or loss): | | |
Administrative expenses: | ( | ( |
Other operating income: | | |
Operating profit(or loss): | | ( |
Profit(or loss) before tax: | | ( |
Tax: | | |
Profit(or loss) for the financial year: | | ( |
As at
Notes | 2024 | 2023 | |
---|---|---|---|
| £ | £ | |
Current assets | |||
Debtors: | 3 | | |
Cash at bank and in hand: | | | |
Total current assets: | | | |
Creditors: amounts falling due within one year: | 4 | ( | ( |
Net current assets (liabilities): | | | |
Total assets less current liabilities: | | | |
Total net assets (liabilities): | | | |
Members' funds | |||
Profit and loss account: | | | |
Total members' funds: | | |
The notes form part of these financial statements
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
for the Period Ended 31 March 2024
Basis of measurement and preparation
Turnover policy
Other accounting policies
for the Period Ended 31 March 2024
2024 | 2023 | |
---|---|---|
Average number of employees during the period | | |
for the Period Ended 31 March 2024
2024 | 2023 | |
---|---|---|
£ | £ | |
Trade debtors | | |
Prepayments and accrued income | | |
Total | | |
for the Period Ended 31 March 2024
2024 | 2023 | |
---|---|---|
£ | £ | |
Trade creditors | | |
Taxation and social security | | |
Accruals and deferred income | | |
Other creditors | | |
Total | | |
Drum Works uses drumming as a tool to achieve positive outcomes for vulnerable young people in east London. In 2023/24, professional musicians delivered high-quality creative drumming sessions with pupils in six partner schools every week, including a Pupil Referral Unit and an autism-specialist school. We ran a community programme for young people outside partner schools to attend weekly sessions at a venue in Newham, either paying to attend or subsidised by us depending on their circumstances. Two progression ensembles for advanced players and those who have left school provided further musical skills development and guidance for those wanting to pursue careers in music. Older members were offered work placements and profes-sional training/mentoring through our Assistant programme. In total, over 600 people regularly attended weekly sessions, 88% of whom were under 25.Our programme was delivered by our Managing Director with support from a Project Manager and was overseen by two Artistic Directors. A team of 15 freelance musicians facilitated the drumming sessions: 11professionals and four former participants who have progressed through our programme and are now developing their leadership skills. We had a total of eight employees on payroll: the full-time Managing Director, part-time Project Manager, two Artistic Directors, and four casual assistants (totalling three FTEs).Our Board comprised eight independent Non-Executive Directors (NEDs) and three Executive Directors (the two Artistic Directors & Managing Director). Our Youth Board - which included representatives from each of our partner schools – informed Management and Board decision-making.2023/24 has been a better year financially, and we are pleased to have been awarded a 3-year grant from Youth Music’s Catalyser fund which will underpin our work to the end of 2026. We are very grateful to the following organisations who provided funding support for our programme during 2023/24:Youth MusicArts Council EnglandLHC Community Benefit FundKathleen Beryl Sleigh Charitable TrustCity of London Central Grants UnitNugee FoundationDerek Shuttleworth Educational TrustBentley Advancing Life Choices FundSamuel Gardner Memorial TrustKFC Youth FoundationMarchus TrustCulture Mile BIDRank Foundation
Drum Works’ primary stakeholders are the participants in our regular weekly sessions, and our school andcommunity partners. Each school and progression band has at least one representative on our Youth Board, which meets three times a year. The Youth Board are consulted on strategy and programme development. A representative presents at each Board meeting, ensuring their ideas are factored into Board discussions. We meet our school and community partners regularly throughout the year to review progress to date and plan future project activity.
In the year, Directors received remuneration via payroll of £52,977. A further £38,888 was received by Directors invoicing as Sub-Contractors.There were no other transactions or arrangements in connection with the remuneration of directors, or compensation for director’s loss of office, which require to be disclosed.
No transfer of assets other than for full consideration
This report was approved by the board of directors on
18 July 2024
And signed on behalf of the board by:
Name: A Hawkins
Status: Director