Noise Solution Accounts 2019-20

Report of the Directors and Unaudited Financial Statements for the Year Ended 30 June 2020 for Noise Solution C.I.C.

Noise Solution C.I.C.

Contents of the Financial Statements for the Year Ended 30 June 2020

Page Company Information

1

Report of the Directors

2 to 3

Income Statement Balance Sheet Statement of Changes in Equity Notes to the Financial Statements Chartered Accountants' Report Detailed Income and Expenditure Account

4 5 to 6 7 8 to 12 13 14 to 15

Noise Solution C.I.C. Company Information for the Year Ended 30 June 2020

DIRECTORS:

Mr S M Glenister Mr M Blows Mr D J Ribbans Mrs A Burns Mr A Alexa Dr K Batholomew Ms T J Byrne Mrs A Pal Mr A D Tunnicliffe Dr R Zelezny-Green

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 2020 The directors present their report with the financial statements of the company for the year ended 30 June 2020.

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 These accounts tell an important, but ultimately very narrow, story in regards to this extraordinary year. Whilst the organisation's financial bottom line is obviously extremely important, Noise Solution as a social enterprise cares equally about its social impact and the outcomes, for real people, that its work helps to generate.

Our understanding of what allows people to flourish - our focus on autonomy, competence and relatedness has been instrumental in our participants' outcomes, but equally it's been instrumental in our staff's ability to cope so brilliantly with what the year has thrown at them. Over the last year, Noise Solution has become stronger, more flexible and better at what it does because of all these things.

The real story this year has been our ability to quickly adapt to the ever-changing landscape whilst not needing to compromise on the things we hold dear. Our recognition of digital's importance and early investment in digital capabilities has been key in enabling us to do that. It is what means that going forward we are in a position to flourish rather than just recover.

Our thanks go to these and many other organisations who have continued to believe in and support us: Suffolk Community Foundation Spirit of 2012 Carers Music Fund Suffolk, Cambridgeshire, Norfolk and Essex County Councils London Borough of Havering DIRECTORS The directors shown below have held office during the whole of the period from 1 July 2019 to the date of this report.

Mr S M Glenister Mr M Blows Mr D J Ribbans Mrs A Burns Other changes in directors holding office are as follows: Ms B M R Bell - resigned 23 January 2020 Mr A Alexa - appointed 20 May 2020 Dr K Batholomew - appointed 20 May 2020 Ms T J Byrne - appointed 12 June 2020 Mrs A Pal - appointed 29 May 2020 Mr A D Tunnicliffe - appointed 1 June 2020 Dr R Zelezny-Green - appointed 19 May 2020 Ms S E Jones and Ms L Baran ceased to be directors after 30 June 2020 but prior to the date of this report.

Page 2

Noise Solution C.I.C. Report of the Directors for the Year Ended 30 June 2020 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.

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

19 February 2021

Page 3

Noise Solution C.I.C. Income Statement for the Year Ended 30 June 2020 2020 £

2019 £

TURNOVER

321,793

269,483

Cost of sales

152,066

120,318

GROSS SURPLUS

169,727

149,165

Administrative expenses

149,921

110,583

19,806

38,582

252

210

19,554

38,372

3,812

6,630

15,742

31,742

Notes

OPERATING SURPLUS

4

Interest payable and similar expenses SURPLUS BEFORE TAXATION Tax on surplus

5

SURPLUS FOR THE FINANCIAL YEAR

The notes form part of these financial statements Page 4

Noise Solution C.I.C. (Registered number: 06952980) Balance Sheet 30 June 2020 2020 Notes FIXED ASSETS Intangible assets Tangible assets

£

6 7

CURRENT ASSETS Debtors Cash at bank

8

CREDITORS Amounts falling due within one year

9

2019 £

£

£

9,600 14,843

4,114

24,443

4,114

92,183 78,733

70,281 105,788

170,916

176,069

102,081

104,685

NET CURRENT ASSETS

68,835

71,384

TOTAL ASSETS LESS CURRENT LIABILITIES

93,278

75,498

2,820

782

NET ASSETS

90,458

74,716

RESERVES Income and expenditure account

90,458

74,716

90,458

74,716

PROVISIONS FOR LIABILITIES

10

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2020 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 notes form part of these financial statements Page 5

continued...

Noise Solution C.I.C. (Registered number: 06952980) Balance Sheet - continued 30 June 2020

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 and authorised for issue on 19 February 2021 and were signed on its behalf by:

Mr D J Ribbans - Director

The notes form part of these financial statements Page 6

Noise Solution C.I.C. Statement of Changes in Equity for the Year Ended 30 June 2020 Retained earnings £

Total equity £

Balance at 1 July 2018

42,974

42,974

Changes in equity Total comprehensive income

31,742

31,742

Balance at 30 June 2019

74,716

74,716

Changes in equity Total comprehensive income

15,742

15,742

Balance at 30 June 2020

90,458

90,458

The notes form part of these financial statements Page 7

Noise Solution C.I.C. Notes to the Financial Statements for the Year Ended 30 June 2020 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 (£).

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.

Intangible assets Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Computer software is being amortised evenly over its estimated useful life of three years.

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 8

continued...

Noise Solution C.I.C. Notes to the Financial Statements - continued for the Year Ended 30 June 2020 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 9

continued...

Noise Solution C.I.C. Notes to the Financial Statements - continued for the Year Ended 30 June 2020 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 (2019 - 4). There were a further 4 (2019 - 5) unpaid directors.

4.

OPERATING SURPLUS The operating surplus is stated after charging:

Depreciation - owned assets Computer software amortisation

5.

2020 £ 8,474 4,800

2019 £ 2,193 -

2020 £

2019 £

TAXATION Analysis of the tax charge The tax charge on the surplus for the year was as follows:

Current tax: UK corporation tax

1,774

6,101

Deferred tax

2,038

529

Tax on surplus

3,812

6,630

UK corporation tax has been charged at 19% (2019 - 19%).

Page 10

continued...

Noise Solution C.I.C. Notes to the Financial Statements - continued for the Year Ended 30 June 2020 6.

INTANGIBLE FIXED ASSETS Other intangible assets £

7.

COST Additions

14,400

At 30 June 2020

14,400

AMORTISATION Charge for year

4,800

At 30 June 2020

4,800

NET BOOK VALUE At 30 June 2020

9,600

TANGIBLE FIXED ASSETS Plant and machinery etc £ COST At 1 July 2019 Additions

6,575 19,203

At 30 June 2020

25,778

DEPRECIATION At 1 July 2019 Charge for year

2,461 8,474

At 30 June 2020

10,935

NET BOOK VALUE At 30 June 2020

14,843

At 30 June 2019

8.

4,114

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Trade debtors Other debtors

Page 11

2020 £ 90,183 2,000

2019 £ 68,281 2,000

92,183

70,281

continued...

Noise Solution C.I.C. Notes to the Financial Statements - continued for the Year Ended 30 June 2020 9.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Trade creditors Taxation and social security Other creditors

10.

2019 £ 11,171 5,867 87,647

102,081

104,685

2020 £

2019 £

PROVISIONS FOR LIABILITIES

Deferred tax Accelerated capital allowances

2,820

782

Deferred tax £ 782 2,038

Balance at 1 July 2019 Provided during year Balance at 30 June 2020

11.

2020 £ 4,608 7,641 89,832

2,820

LIMITED BY GUARANTEE The company is limited by guarantee.

Page 12

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 2020 on pages four to twelve 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

19 February 2021

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

Noise Solution C.I.C. Detailed Income and Expenditure Account for the Year Ended 30 June 2020 2020 £ Turnover Education income Mental health income Other income Grants & donations

2019 £

100,854 38,115 3,915 178,909

£ 99,693 27,531 37,171 105,088

321,793 Cost of sales Tutoring Other direct costs Directors' salaries Directors' social security Wages Social security Pensions Studio hire

97,243 866 8,400 529 29,221 1,516 960 13,331

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 Accountancy Training Legal & professional fees

Depreciation Computer software Computer equipment

152,066

120,318

169,727

149,165

5,100

4,560

164,627

144,605

65,050 3,222 4,239 1,474 358 12,775 931 6,578 2,045 9 1,380 3,265 1,353 131,547

102,679

33,080

41,926

4,800 8,474

2,193 13,274

2,193

19,806

39,733

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

269,483

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

70,600 4,589 5,201 2,430 362 12,186 1,626 18,481 3,170 201 1,440 2,485 8,776

Carried forward

£

Noise Solution C.I.C. Detailed Income and Expenditure Account for the Year Ended 30 June 2020 2020 £ Brought forward Loss on disposal of fixed assets Computer equipment

2019 £ 19,806

£

£ 39,733

-

1,151

19,806

38,582

Finance costs Bank charges

252

210

NET SURPLUS

19,554

38,372

This page does not form part of the statutory financial statements Page 15