Noise Solution Annual Accounts 2018/19

Report of the Directors and Unaudited Financial Statements for the Year Ended 30 June 2019 for Noise Solution C.I.C.

Noise Solution C.I.C.

Contents of the Financial Statements for the Year Ended 30 June 2019

Page Company Information

1

Report of the Directors

2 to 3

Income Statement

4

Balance Sheet

5

Statement of Changes in Equity

6

Notes to the Financial Statements Chartered Accountants' Report Detailed Income and Expenditure Account

7 to 11 12 13 to 14

Noise Solution C.I.C. Company Information for the Year Ended 30 June 2019

DIRECTORS:

Ms B M R Bell Mr S M Glenister Ms S E Jones Mr M Blows Ms L Baran Mr D J Ribbans Mrs A Burns

SECRETARY:

Mr D J Ribbans

REGISTERED OFFICE:

Hunter Club 6 St Andrews Street South Bury St Edmunds Suffolk IP33 3PH

REGISTERED NUMBER:

06952980 (England and Wales)

ACCOUNTANTS:

Knights Lowe Chartered Accountants Eldo House Kempson Way Suffolk Business Park Bury St Edmunds Suffolk IP32 7AR

Page 1

Noise Solution C.I.C. Report of the Directors for the Year Ended 30 June 2019 The directors present their report with the financial statements of the company for the year ended 30 June 2019.

PRINCIPAL ACTIVITY The principal activity of the company in the year under review was that of promoting engagement and improving well-being amongst young people and members of the public through the use of media, in particular but not exclusively music technology education.

REVIEW OF BUSINESS A full review of the companies business activities can be found in its CIC34 annual return to the CIC regulator. Noise Solution are grateful to the funders that have made their work possible, including: The Paul Hamlyn Foundation The Essential Life Skills Fund through the Ipswich Opportunity Area Suffolk Community Foundation The Police and Crime Commissioner for Suffolk The Miller Trust Fund Suffolk, Cambridgeshire, Norfolk and Essex County Councils DIRECTORS The directors shown below have held office during the whole of the period from 1 July 2018 to the date of this report.

Ms B M R Bell Mr S M Glenister Ms S E Jones Mr M Blows Ms L Baran Mr D J Ribbans Mrs A Burns STATEMENT OF DIRECTORS' RESPONSIBILITIES The directors are responsible for preparing the Report of the Directors and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law), including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'. Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the surplus or deficit of the company for that period. In preparing these financial statements, the directors are required to: - select suitable accounting policies and then apply them consistently; - make judgements and accounting estimates that are reasonable and prudent; - prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Page 2

Noise Solution C.I.C. Report of the Directors for the Year Ended 30 June 2019 This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

ON BEHALF OF THE BOARD:

Mr D J Ribbans - Director

25 November 2019

Page 3

Noise Solution C.I.C. Income Statement for the Year Ended 30 June 2019 2019 £

2018 £

TURNOVER

269,483

239,958

Cost of sales

120,318

78,615

GROSS SURPLUS

149,165

161,343

Administrative expenses

110,583

166,729

Notes

OPERATING SURPLUS/(DEFICIT)

4

38,582

Interest payable and similar expenses

210

SURPLUS/(DEFICIT) BEFORE TAXATION Tax on surplus/(deficit)

5

SURPLUS/(DEFICIT) FOR THE FINANCIAL YEAR

177

38,372

(5,563)

6,630

(450)

31,742

(5,113)

The notes form part of these financial statements Page 4

(5,386)

Noise Solution C.I.C. (Registered number: 06952980) Balance Sheet 30 June 2019 2019 Notes FIXED ASSETS Tangible assets

£

6

CURRENT ASSETS Debtors Cash at bank

7

CREDITORS Amounts falling due within one year

8

2018 £

£

4,114

£ 1,332

70,281 105,788

62,251 17,431

176,069

79,682

104,685

37,787

NET CURRENT ASSETS

71,384

41,895

TOTAL ASSETS LESS CURRENT LIABILITIES

75,498

43,227

782

253

NET ASSETS

74,716

42,974

RESERVES Income and expenditure account

74,716

42,974

74,716

42,974

PROVISIONS FOR LIABILITIES

9

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2019 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for: (a) ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and (b) preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the Board of Directors on 25 November 2019 and were signed on its behalf by:

Mr D J Ribbans - Director

The notes form part of these financial statements Page 5

Noise Solution C.I.C. Statement of Changes in Equity for the Year Ended 30 June 2019 Retained earnings ÂŁ

Total equity ÂŁ

Balance at 1 July 2017

48,087

48,087

Changes in equity Total comprehensive income

(5,113)

(5,113)

Balance at 30 June 2018

42,974

42,974

Changes in equity Total comprehensive income

31,742

31,742

Balance at 30 June 2019

74,716

74,716

The notes form part of these financial statements Page 6

Noise Solution C.I.C. Notes to the Financial Statements for the Year Ended 30 June 2019 1.

STATUTORY INFORMATION Noise Solution C.I.C. is a private company, limited by guarantee, registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (ÂŁ).

2.

ACCOUNTING POLICIES Basis of preparing the financial statements These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Turnover is recognised in the accounts in the period in which the service is carried out.

Revenue based grants received are recognised in the profit and loss account in the same period as the costs to which they relate.

Tangible fixed assets Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Computer equipment - 3 years straight line

Page 7

continued...

Noise Solution C.I.C. Notes to the Financial Statements - continued for the Year Ended 30 June 2019 2.

ACCOUNTING POLICIES - continued Financial instruments The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities such as trade and other accounts receivable and payable, and loans from banks or other related parties.

Debt instruments, such as loans and other accounts receivable and payable, are initially measured at present value of the future payments and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade payables or receivables, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, such as the payment of a trade debt deferred beyond normal business terms or financed at a rate of interest that is not a market rate, or in case of an outright short-term loan not at market rate, the financial asset or liability is measured, initially and subsequently, at the present value of the future payment discounted at a market rate of interest for a similar debt instrument.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of Comprehensive Income.

For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate, which is an approximation of the amount that the company would receive for the asset if it were to be sold at the balance sheet date.

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.

Taxation Taxation for the year 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.

Deferred tax Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Page 8

continued...

Noise Solution C.I.C. Notes to the Financial Statements - continued for the Year Ended 30 June 2019 2.

ACCOUNTING POLICIES - continued Pension costs and other post-retirement benefits The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Impairment At each reporting date, goodwill and other fixed assets, including tangible fixed assets and investments but excluding investment properties, are assessed to determine whether there is an indication that the carrying amount of an asset may be more than its recoverable amount and that the asset should be impaired. If there is an indication of possible impairment, the recoverable amount of an asset, which is the higher of its value in use and its net realisable value, is estimated and compared with its carrying amount. If the recoverable amount is lower, the carrying amount of the asset is written down to its estimated recoverable amount and an impairment loss is recognised in profit and loss.

3.

EMPLOYEES AND DIRECTORS The average number of paid employees during the year was 4 (2018 - 2). There were a further 5 (2018 - 5) unpaid directors.

4.

OPERATING SURPLUS/(DEFICIT) The operating surplus (2018 - operating deficit) is stated after charging:

Depreciation - owned assets Research & development

5.

2019 £ 2,193 -

2018 £ 1,136 70,128

2019 £

2018 £

TAXATION Analysis of the tax charge/(credit) The tax charge/(credit) on the surplus for the year was as follows:

Current tax: UK corporation tax Deferred tax Tax on surplus/(deficit)

6,101

(234)

529

(216)

6,630

(450)

UK corporation tax has been charged at 19% (2018 - 19%).

Page 9

continued...

Noise Solution C.I.C. Notes to the Financial Statements - continued for the Year Ended 30 June 2019 6.

TANGIBLE FIXED ASSETS Plant and machinery etc £ COST At 1 July 2018 Additions Disposals

4,584 6,126 (4,135)

At 30 June 2019

6,575

DEPRECIATION At 1 July 2018 Charge for year Eliminated on disposal

7.

3,252 2,193 (2,984)

At 30 June 2019

2,461

NET BOOK VALUE At 30 June 2019

4,114

At 30 June 2018

1,332

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Trade debtors Other debtors

8.

2018 £ 60,017 2,234

70,281

62,251

2019 £ 11,171 5,867 87,647

2018 £ 5,652 32,135

104,685

37,787

2019 £

2018 £

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Trade creditors Taxation and social security Other creditors

9.

2019 £ 68,281 2,000

PROVISIONS FOR LIABILITIES

Deferred tax Accelerated capital allowances

782

Page 10

253

continued...

Noise Solution C.I.C. Notes to the Financial Statements - continued for the Year Ended 30 June 2019 9.

PROVISIONS FOR LIABILITIES - continued Deferred tax £ 253 529

Balance at 1 July 2018 Provided during year Balance at 30 June 2019

10.

782

LIMITED BY GUARANTEE The company is limited by guarantee.

Page 11

Chartered Accountants' Report to the Board of Directors on the Unaudited Financial Statements of Noise Solution C.I.C.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Noise Solution C.I.C. for the year ended 30 June 2019 on pages four to eleven from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Noise Solution C.I.C., as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Noise Solution C.I.C. and state those matters that we have agreed to state to the Board of Directors of Noise Solution C.I.C., as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Noise Solution C.I.C. and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Noise Solution C.I.C. has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Noise Solution C.I.C.. You consider that Noise Solution C.I.C. is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Noise Solution C.I.C.. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Knights Lowe Chartered Accountants Eldo House Kempson Way Suffolk Business Park Bury St Edmunds Suffolk IP32 7AR

25 November 2019

This page does not form part of the statutory financial statements Page 12

Noise Solution C.I.C. Detailed Income and Expenditure Account for the Year Ended 30 June 2019 2019 £ Turnover Education income Mental health income Other income Grants & donations

2018 £

99,693 27,531 37,171 105,088

£ 78,491 53,518 15,481 92,468

269,483 Cost of sales Tutoring Other direct costs Directors' salaries Directors' social security Wages Social security Pensions Studio hire

71,501 1,453 8,400 415 27,049 1,476 762 9,262

GROSS SURPLUS Establishment costs Rent

Administrative expenses Directors' salaries Directors' social security Directors' pension contributions Telephone Printing, postage & stationery Travel & subsistence Insurance Software & IT Marketing Sundry expenses Research & development Accountancy Training Legal & professional fees

120,318

78,615

149,165

161,343

4,560

2,700

144,605

158,643

60,000 2,958 3,272 814 967 8,573 888 6,548 2,501 66 70,128 1,320 3,760 1,098 102,679

Carried forward

162,893

41,926

(4,250)

2,193

1,136

39,733

(5,386)

This page does not form part of the statutory financial statements Page 13

239,958

59,825 1,496 8,000 398 8,896

65,050 3,222 4,239 1,474 358 12,775 931 6,578 2,045 9 1,380 3,265 1,353

Depreciation Computer equipment

£

Noise Solution C.I.C. Detailed Income and Expenditure Account for the Year Ended 30 June 2019 2019 £ Brought forward Loss on disposal of fixed assets Computer equipment

2018 £ 39,733

1,151 38,582

Finance costs Bank charges

210

NET SURPLUS/(DEFICIT)

38,372

This page does not form part of the statutory financial statements Page 14

£

£ (5,386)

(5,386)

177 (5,563)