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 2024

Period of accounts

Start date: 1 December 2023

End date: 30 November 2024

THE INDEPENDENT MUSIC SUPPORT CIC

Contents of the Financial Statements

for the Period Ended 30 November 2024

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

THE INDEPENDENT MUSIC SUPPORT CIC

Directors' report period ended 30 November 2024

The directors present their report with the financial statements of the company for the period ended 30 November 2024

Principal activities of the company

The principal activity of the company continued to be that of charitable services, providing supporting activities to performing arts.



Directors

The director shown below has held office during the whole of the period from
1 December 2023 to 30 November 2024

Adrian Norman


The director shown below has held office during the period of
1 December 2023 to 8 April 2024

Petrina Smith


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
29 August 2025

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

THE INDEPENDENT MUSIC SUPPORT CIC

Profit And Loss Account

for the Period Ended 30 November 2024

2024 2023


£

£
Turnover: 3,188 5,679
Cost of sales: ( 1,402 ) ( 2,957 )
Gross profit(or loss): 1,786 2,722
Distribution costs: 0 0
Administrative expenses: ( 2,399 ) ( 3,353 )
Other operating income: 0 0
Operating profit(or loss): (613) (631)
Interest receivable and similar income: 0 0
Interest payable and similar charges: 0 0
Profit(or loss) before tax: (613) (631)
Tax: 0 120
Profit(or loss) for the financial year: (613) (511)

THE INDEPENDENT MUSIC SUPPORT CIC

Balance sheet

As at 30 November 2024

Notes 2024 2023


£

£
Fixed assets
Intangible assets:   0 0
Tangible assets:   0 0
Investments:   0 0
Total fixed assets: 0 0
Current assets
Stocks:   0 0
Debtors: 3 645 491
Cash at bank and in hand: 3,755 2,303
Investments:   0 0
Total current assets: 4,400 2,794
Prepayments and accrued income: 0 0
Creditors: amounts falling due within one year: 4 ( 4,752 ) ( 2,533 )
Net current assets (liabilities): (352) 261
Total assets less current liabilities: (352) 261
Creditors: amounts falling due after more than one year:   0 0
Provision for liabilities: 0 0
Accruals and deferred income: 0 0
Total net assets (liabilities): (352) 261
Members' funds
Profit and loss account: (352) 261
Total members' funds: ( 352) 261

The notes form part of these financial statements

THE INDEPENDENT MUSIC SUPPORT CIC

Balance sheet statements

For the year ending 30 November 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 29 August 2025
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 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

    Other accounting policies

    Company information The Independent Music Support CIC is a private company limited by guarantee incorporated in England and Wales. The registered office is 12 Conqueror Court, Sittingbourne, Kent, United Kingdom, ME10 5BH. Accounting convention These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view. The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £. The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below. Income and expenditure Income and expenses are included in the financial statements as they become receivable or due. Expenses include VAT where applicable as the company cannot reclaim it. Cash and cash equivalents Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities. Financial instruments The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments. Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument. Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally 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. Basic financial assets 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 method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised. Classification of financial liabilities Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Basic financial liabilities Basic financial liabilities, including creditors, bank loans, 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 the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method. Taxation The tax expense represents the sum of the tax currently payable. The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date. Leases As lessee Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.

THE INDEPENDENT MUSIC SUPPORT CIC

Notes to the Financial Statements

for the Period Ended 30 November 2024

  • 2. Employees

    2024 2023
    Average number of employees during the period 0 0

THE INDEPENDENT MUSIC SUPPORT CIC

Notes to the Financial Statements

for the Period Ended 30 November 2024

3. Debtors

2024 2023
£ £
Trade debtors 102 146
Prepayments and accrued income 0 0
Other debtors 543 345
Total 645 491
Debtors due after more than one year: 0 0

THE INDEPENDENT MUSIC SUPPORT CIC

Notes to the Financial Statements

for the Period Ended 30 November 2024

4. Creditors: amounts falling due within one year note

2024 2023
£ £
Bank loans and overdrafts 0 0
Amounts due under finance leases and hire purchase contracts 0 0
Trade creditors 2,352 0
Taxation and social security 0 181
Accruals and deferred income 0 0
Other creditors 2,400 2,352
Total 4,752 2,533

COMMUNITY INTEREST ANNUAL REPORT

THE INDEPENDENT MUSIC SUPPORT CIC

Company Number: 13715970 (England and Wales)

Year Ending: 30 November 2024

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 CIS 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
29 August 2025

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