BRAINS POWERED BY MUSIC CIC

Company limited by guarantee

Company Registration Number:
14740721 (England and Wales)

Unaudited statutory accounts for the year ended 31 March 2024

Period of accounts

Start date: 20 March 2023

End date: 31 March 2024

BRAINS POWERED BY MUSIC CIC

Contents of the Financial Statements

for the Period Ended 31 March 2024

Directors report
Profit and loss
Balance sheet
Additional notes
Balance sheet notes
Community Interest Report

BRAINS POWERED BY MUSIC CIC

Directors' report period ended 31 March 2024

The directors present their report with the financial statements of the company for the period ended 31 March 2024

Principal activities of the company

The principal activity of the company is to provide DJ tutoring with the aim of improving mental health, motor ability and concentration.



Directors

The directors shown below have held office during the whole of the period from
20 March 2023 to 31 March 2024

Mr Mark Blundell
Dr Penelope Trayner


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
17 December 2024

And signed on behalf of the board by:
Name: Mr Mark Blundell
Status: Director

BRAINS POWERED BY MUSIC CIC

Profit And Loss Account

for the Period Ended 31 March 2024

2024


£
Turnover: 5,297
Cost of sales: ( 754 )
Gross profit(or loss): 4,543
Distribution costs: 0
Administrative expenses: ( 2,244 )
Other operating income: 0
Operating profit(or loss): 2,299
Interest receivable and similar income: 0
Interest payable and similar charges: 0
Profit(or loss) before tax: 2,299
Tax: ( 437 )
Profit(or loss) for the financial year: 1,862

BRAINS POWERED BY MUSIC CIC

Balance sheet

As at 31 March 2024

Notes 2024


£
Fixed assets
Intangible assets:   0
Tangible assets:   0
Investments:   0
Total fixed assets: 0
Current assets
Stocks:   0
Debtors: 3 3,338
Cash at bank and in hand: 210
Investments:   0
Total current assets: 3,548
Prepayments and accrued income: 0
Creditors: amounts falling due within one year: 4 ( 1,686 )
Net current assets (liabilities): 1,862
Total assets less current liabilities: 1,862
Total net assets (liabilities): 1,862
Members' funds
Profit and loss account: 1,862
Total members' funds: 1,862

The notes form part of these financial statements

BRAINS POWERED BY MUSIC CIC

Balance sheet statements

For the year ending 31 March 2024 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.

This report was approved by the board of directors on 17 December 2024
and signed on behalf of the board by:

Name: Mr Mark Blundell
Status: Director

The notes form part of these financial statements

BRAINS POWERED BY MUSIC CIC

Notes to the Financial Statements

for the Period Ended 31 March 2024

  • 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 shown net of sales/value added tax, returns, rebates and discounts.

    Other accounting policies

    Financial Instruments Classification The company only enters into basic financial instruments transactions that results in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares. Recognition and measurement Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest rate method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised. Basic financial liabilities, including creditors, banks, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised. Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an 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. Impairment Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting date. Financial assets are impaired where there is objective evidence, that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. If an asset is impaired, the impairment loss of the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset's original effective interest rate. The impairment loss is recognised in profit and loss. If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been, had the impairment not previously been recognised. The reversal impairment is recognised in profit and loss. Tax The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income. The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income. Cash and cash equivalents Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value. Trade Debtors Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business. Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables. Trade Creditors Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities. Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method. Staff number The average number of persons employed by the company (including directors) during the period, was 2.

BRAINS POWERED BY MUSIC CIC

Notes to the Financial Statements

for the Period Ended 31 March 2024

  • 2. Employees

    2024
    Average number of employees during the period 2

BRAINS POWERED BY MUSIC CIC

Notes to the Financial Statements

for the Period Ended 31 March 2024

3. Debtors

2024
£
Trade debtors 800
Prepayments and accrued income 167
Other debtors 2,371
Total 3,338

BRAINS POWERED BY MUSIC CIC

Notes to the Financial Statements

for the Period Ended 31 March 2024

4. Creditors: amounts falling due within one year note

2024
£
Taxation and social security 437
Accruals and deferred income 1,249
Total 1,686

COMMUNITY INTEREST ANNUAL REPORT

BRAINS POWERED BY MUSIC CIC

Company Number: 14740721 (England and Wales)

Year Ending: 31 March 2024

Company activities and impact

Brains Powered by Music CIC provides accredited post-16 provisions in electronic music education and electronic music rehabilitation interventions. Our programmes support individuals who do not meet the criteria to attend traditional colleges or qualify for funding for rehabilitation interventions. Over the past year, we have successfully delivered the following activities that have benefited the community: Student Performances: Our students have participated in various events, gaining practical experience and contributing to the local and national music scene. The events include: Accesfest UKABIF Annual Event Headway 40th Anniversary Ball Headway Bury Headway Hudds Headway Salford Beyond Conference CBIT Conference These performances have provided students with a platform to showcase their skills, build confidence, and engage with wider audiences. Subsidised Courses: We have offered subsidised courses to self-funded students, ensuring that financial constraints do not hinder access to quality music education. This initiative has supported individuals in pursuing their passion for music and has opened up future career opportunities for them. Over the past year, two students have successfully completed subsidised courses, equipping them with the skills and experience needed to progress in the music industry. Through these activities, we have observed significant positive outcomes, including the development of motor and coordination skills, increased attention and concentration, improved memory, enhanced executive functioning skills, and boosted confidence and self-esteem among our students.

Consultation with stakeholders

Our stakeholders include students, their families, local community members, and partner organisations. We have engaged with them through regular feedback sessions, surveys, and informal discussions to understand their needs and expectations. In response to the feedback received, we have: Expanded our course offerings to include a wider range of music genres and skills. Increased the number of subsidised course placements to support more self-funded students. Organised additional performance opportunities for students to gain practical experience. Facilitated student participation in focus groups, helping to inform the design of new equipment and innovative ways of learning. These developments are being supported through a UK Research and Innovation (UKRI) funded Creative Catalyst grant. These actions have been implemented to better serve our community and to ensure that our programmes remain relevant and impactful.

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
13 February 2025

And signed on behalf of the board by:
Name: Dr Penelope Trayner
Status: Director