Young Sounds UK
(The working name for Awards for Young Musicians)
(A Charitable Company Limited by Guarantee)
Annual Report and Financial Statements
For the Year Ended 31 December 2023
Company Number: 03602851
Charity Registered in England and Wales Number: 1070994
Young
Sounds
UK

Young Sounds UK (The working name for Awards for Young Musicians)
Contents
For the Year Ended 31 December 2023
Contents
Reference and Administrative Details
Trustees, Annual Report
Independenl Auditor's Report
Statement of Financial Activities
4-26
27-30
31
Balance Sheet
32
Statement of Cash Flows
33
Notes to the Financial Statements
34-45

Young Sounds UK (The working name for Awards for Young Musicians)
Reference and Administrative Details
For the Year Ended 31 December 2023
Charity Reference and Administrative Details
Charity registration number
1070994
Company registration number
3602851
Trustees
Trustees. who are also directors under company law, who served
during the year and up to the date of this report were as follows:
Lynda Beament1
Max Brown (appointed 11 September 2023)
Fintan Canavan (appointed 11 September 2023)
Mahaliah Edwards (resigned 11 September 2023)
Julian Forbes (appointed 12 March 2024)
Fiona Harve
Uta Hope (appointed 12 March 2024)
Karen Humphreys MBE6
Philip Jones {Chair)
236
Michael Lilllechild4
Beverley Mason
Ella Mccoshan
Thomas Sharpe KC3
Laurie Wa
Ayanna Witter-Johnson (resigned 19 September 2023)
Sub committees
1 Communications
2 Trusts and Foundations
3 Individual donors
4 Audit and Risk
5 Equity, Diversity and Inclusion
6 Board Nominations
Chief Executive
Hester Cockcroft
Registered Office
PO Box 2754
Bristol
BS4 9DA
Auditor
Albert Goodman Chartered Accountants
5th Floor
25 King Street
Bristol
BS14PB
Bankers
CAF Bank Limited
25 Kings Hill Avenue
Kings Hill
West Malling
Kent ME19 4JQ

Young Sounds UK (The working name for Awards for Young Musicians)
Reference and Administrative Details
For the Year Ended 31 December 2023
The Charity Bank Limited
Fosse House
182 High Street
Tonbridge. TN9 18E
Investment Managers
EdenTree Investment Management
Benefact House
2000 Pioneer Avenue
Gloucester Business Park
Brockworth
Gloucester GL3 4AW
Rathbones Ltd
8 Finsbury Circus
London. EC2M 7AZ
Sarasin & Partners LLP
100 St Paul's Churchyard
London
EC4M 8BU
Patrons
Sir Simon Ratlle OM CBE
Dame Evelyn Glennie CH DBE
Jess Gillam MBE
Dechanel Gordon
Julian Lloyd Webber OBE
Alpesh Chauhan OBE
Duncan Ward
Ksenija Sidorova
Gavin Higgins
Shabaka Hutchings
Milos Karadaglic
Tasmin Little CBE
Zeb Soanes
Thomas Gould
Paul Lewis CBE
Professor Derek Aviss OBE
Ayanna Witter-Johnson

Young Sounds UK (The working name for Awards for Young Musicians)
Trustees, Report
For the Year Ended 31 December 2023
From the Chair
It gives me great pleasure to introduce this Annual Report, the first with our new name of Young Sounds UK. For some
time we have felt our former name no longer encompassed the breadth and depth of our work or connected strongly
enough with the young people we are all about. We are delighted with our new name which has been extremely well
received and is already making the impact we intended.
It's been another busy year! Our team have risen brilliantly lo the challenges of being a new Arts Council England
National Portrolio Organisation and a new National Youth Music Organisation (NYMO) and I must congratulate all
involved. and our CEO Hester Cockcroft in particular. in putting together our successful tender to be the provider for the
Department for Education's Music Opportunities Pilot for the next four years. We very much look forward to integrating
their objectives into our Furthering Talent programme.
As a result of this and other initiatives next year we will easily surpass our long-temi objective of supporting over 1,000
talented young musicians annually.
Fundraising is always a huge challenge. but the quality of our work is well understood and so we continue to grow
strongly.
Once again I would like to thank everyone without whom none of this would be possible- our diligent and hard-working
board, our fantastically passionate and committed team, our dedicated volunteers and our many, many partners. I could
not be prouder of you.
Philip Jones
Chair of Trustees
Progress against our 2023 strategic objectives
We made significant progress against our strategic objectives throughout the year. We continued to do everyihing we
could to provide support and inspiration to the young musicians from low-income families we're here to help. Highlights
include:
Increased income
Our revenue increased to £1,403.828, showing the commitment to our mission of our many generous supporters across
diverse sources. This enabled us to support 991 individual young people across our programmes during the year. We're
delighted to be very near to our target of supporting 1000 children annually.
We are very grateful to our many long-term supporters, whether individuals, trusts or public funders. At fundraising events
across the country including London. Edinburgh, Manchester, Oxford and North Yorkshire young musicians supported by
our Awards programme gave fantastic perfomiances for existing and new supporters. Our Champions for Children malch
funding campaign raised £32,969 whilst we exceeded our Big Give iarget, raising a fantastic £81,561. all thanks to our
generous supporters.
Expanded and improved support
Our Identifying Talent training programme reached a milestone as we trained our 2000th teacher. As well as Music
Hubs, this training can now be accessed by educators in all settings
schools, Multi Academy Trusts and other
organisations working with young people and training music leaders and teachers.

Young Sounds UK (The working name for Awards for Young Musicians)
Trustees, Report
For the Year Ended 31 December 2023
Furthering Talent grew even more during the year as we partnered with 14 Music Education Hubs across England to
support nearly 700 young people.
Following the 2021 revision of our Awards programme to make it more inclusive and flexible we were pleased to see an
even more diverse range of applications from young people seeking support for their musical development. We were
delighted to work with many fantastic partners across the year. including, through Awards Days, the London College
of Contemporary Music and the BBC Symphony Orchestra. We also continued our three-year Attune chamber music
project. funded by the Andrew Lloyd Webber Foundation. in London in partnership with the City of London Sinfonia and
the Royal Academy of Music and for the first time in Birmingham with the Royal Birmingham Conservatoire and the City
of Birmingham Symphony Orchestra. Our series of online events. aimed at building on the interests of young people
we're supporting, continued, and covered a diverse range of topics from music production to careers in music.
Within our Innovation and Research strand we were delighted to work with Music Mark, UK Music and Youth Music to co-
convene the first in a planned series of roundtables, hosted at the Treasury with support from the Department for Culture
Media and Sport and the Department for Education. We also continued to develop our long-term partnership with the
BBC Symphony Orchestra to plan the next phase of our mentoring programme, Exchange.
Evaluation, Improvement and Innovalion
Phyllida Shaw, our longstanding Extemal Evaluator for Furthering Talent, stepped down in Ihe summer, after working with
us for nine years. Judith Robinson took over as freelance Extemal Evaluator. with an expanded remit to look at our
impact across all our programmes and develop a robust new evaluation framework. ensuring we can report effectively to
our funders whilst also capturing leaming about the effectiveness of our programmes. Our Mentor training, aimed at
existing Mentors (many of them Alumni of our Awards programme) and new Awards Alumni interested in mentoring in the
future, took place across three days in September. It included a whole day exploring evaluation methodologies, including
how to ensure young people's vol￿S can genuinely input into programme development. This learning will ensure that the
Mentors working with us on our Furthering Talent and Awards programmes have the skills and confidence they need to
support our evaluation processes, helping to boost the knowledge and experience of the music education workforce.
Communications
In April 2024 we changed our working name from Awards for Young Musicians to Young Sounds UK. The purpose was
threefold.. we wanted to reach more talented young people from low-income families who need our help,. reflect
developments in our work. and create a more inclusive, approachable and youthful image. Much of 2023 communications
activity involved planning this transition, beginning with pro bono consultancy from two professional copywriters. Dan
Burkitt and Poppy Cumming-spain. Once the new name was agreed, a professional graphic designer, Ben Gibbons.
donated his time to create our new logo and refreshed brand identity- We also spoke extensively to our key stakeholders,
including young people and their parents and carers, donors, funders and partners to explain why we were making this
change. We have been delighted by the response of our stakeholders and the wider community.
In March 2023 our Furthering Talent programme reached the end of a five-year phase. We published a vibrant and jam-
packed review to demonstrate its significant impact. It can be aC￿SSed here: Furtherin
Talent In Review. The
programme has continued in a further phase supported by a Youth Music Catalyser grant and other funding.
During the year we launched a series of films, presented by Alumni of our Awards programme, encouraging and
supporting their younger musician peers to apply for an Award.
We continued our annual participation in three national campaigns: Champions for Children, the Big Give Christmas
Challenge. and Remember a Charity. We held our first legacy event for Remember a Charity. encouraging our
supporters to share their stories about why they re leaving a legacy.

Young Sounds UK (The working name for Awards for Young Musicians)
Trustees, Report
For the Year Ended 31 December 2023
Promoting our new Connectors to the sector, launching our Individual Learning Plan {ILP) on Charanga's platform, and
our continued drive to promote our Identifying Musical Talent and Potential training to music leaders all required
considerable creativity and resourcing across the year.
Equity, Diversity and Inclusion
Our EDI Committee continued to meet quarterly during the year. chaired by Trustee Beverley Mason. inputting into
major developments this year:
Equity, Diversity and Inclusion was at the heart of our motivation for changing our name.. we believe it will help us reach
more young people who need us, particularly those facing the most barriers to progressing musically. We believe it
captures the incredible diversity of musical talent. creativity and energy that young people bring to our communities. It
reinforces our commitment to embracing all musical genres and opens new conversations about the most sustainable
ways to help young people flourish in dynamic and inclusive environments.
In 2023 we also commissioned a cross-organisational benchmarking survey of everyone working with Young Sounds UK
to gain a better understanding of where each person is on their EDI joumey. Findings were shared in spring 2024 and
will be followed by a series of focus groups. This prO￿sS will enable us to continue to further our EDI ambitions and
strengthen relationships with our stakeholders across the sector.
Increased capacity
As our work has expanded, so our team has continued to grow. Events Producer Jess Burroughs covered elements of
Awards Programme Manager Hannah Turner's malemty leave, whilst long lem freelance colleagues stepped into new
roles.. Sarah Barlon Wales as Partnerships Manager and Lee Merchant as Programme PrOdu￿r for Furthering Talent.
Georgie White Winter joined us as Development Administrator during Katherine Rigg's matemity leave. Oliver Humpage
also joined the team as our freelance Systems Consuttant, and Isabel Kernot joined as part-time Monitoring and
Evaluation Manager. All have already made a significant contribution to Young Sounds UK and we're delighted to have
them on board. In April 2024 Madelyn Brown joined Young Sounds UK as our first Finance and Operations Director. a
significant new role for the organisation.
Carbon footprint
As a charity that exists to support young people. we take our duty of being environmentally responsible seriously. We
introduced our first Environmental Plan in 2022. To calculate the carbon footprint of our work, we assessed our team's
environmental impact whilst working from home (having no Spa￿ of our own) as well as emissions from travel. This is
completed annually and reported to Trustees. We're also striving to work with partners and venues who are committed to
reducing their environmental impact.
Compliance
Young Sounds UK'S Audit and Risk Committee continued to lead here, both keeping a close eye on the charity's
financials across the year and ensuring our review cycle for all key policy and compliance documents was followed, from
Safeguarding to our Risk Register. All policy revisions are reviewed and approved by the Trustees and we ensure that
they are understood by all staff and volunteers. As a publicly funded National Portfolio Organisation and National Youth
Music Organisation remaining fully compliant is as vital as ever.
Plans for future periods
The announcement of our new name, Young Sounds UK. in April 2024, launched the organisation into an exciting new
phase of development. We're confident that it will enable us to reach more of the young people we're here to help, as well
as their families and the music educators working with them. As demand for our support rises, our drive to raise further
funding will continue, so we can find and assist more and more musically talented young people across the UK. We are
making significant progress.

Young Sounds UK (The working name for Awards for Young Musicians)
Trustees, Report
For the Year Ended 31 December 2023
Not only is the number of young people supported through our Awards programme continuing to rise each year, we've
also recently been able to proudly announce that Young Sounds UK is the delivery partner for the Department for
Education's Music Opportunities Pilot. Our suc￿Ssful bid for this funding will enable us to build on our existin
Furtherin
Talent model and support 1.000 young people from low-income families over four years.
As part of the refreshed National Plan for Music Education (NPME) published in June 2022 (in which our
approach wascited as important to leam from), the DfE announced the Music Progression Fund
now renamed
the Music Opportunities Pilot - aimed at helping young people with musical potential to progress their music education
in up to six regions. The aims of the fund align perfectly with our Furthering Talent programme which, thanks to the
support of our funders and donors, has grown significantly since it was first piloted in 2009. Delivery of the enhan￿d
programme will begin in September 2024, with both new Music Hubs and seven new national partners joining the
programme.
Collaborating with parentslcarers, music educators. and our local, regional and national partners across our work
we'll continue to target our funding and support to meet the individual needs of the talented young musicians who need it
the most. Our national team of Connectors will play an essential role in promoting our Individual Learning Plan with
Charanga and our new ReSoUr￿S platform across the sector. Working together lo share our learning as widely as
possible we'll further increase our impact on the musical lives of the young people we're here for.
Our Droarammes
Young Sounds UK is a national charity. Our mission is to find musical potential and give talent a chance. We know thal
musical talent is everywhere but opportunity isn't - family finances and other obstacles too often get in the way. We're
here to change this in two key ways..
We support young musicians from low-income families with funding and other help.
We support music education through training, advocacy and research.
Whatever the genre, our strategically targeted programmes help young musicians from across the UK to grow, flourish
and fulfil their potential.
Each programme is designed to tackle a major obstacle fa￿d by these young people:
Identifying Talent.. training teachers how to spot young people's musical potential.
Furthering Talent.. targeting and nurturing emerging talent with sustained, strategic support.
Awards.. funding young tslent UK wide with annual grants, and tailor-made help for individual musicians.
Innovation and Research: leading new thinking and action on talent development.
1. Identifying Talent
Identifying Talent session at the Royal College of Music, September 2023

Young Sounds UK (The working name for Awards for Young Musicians)
Trustees, Report
For the Year Ended 31 December 2023
In 2023
49
829
Training sessions
2023 only
Music leaders
2023 only
This programme, established in 2008. tackles one of the biggest obstacles to talented young people's musical progress
many teachers. limited experience of how to identify their musical potential in the first place. Primary school class
teachers generally have very little musical training, so their limited Confiden￿ can be a stumbling block- this inevitably
affects their ability to identify young people's musical potential in their classes. Alongside this, instrumental teachers
working as part of the wider Music Hub partnership can focus loo much on instrumental proficiency, which can get in the
way of them spotting early potential in a child who has never had Ihe chance to play an inslrument because their family
can't afford it.
Joining the National Portfolio of Arts Council England in April 2023 helped us to continue to expand our work during the
year. Teachers gain both specific skills to spot musical potential as well as broader learning to support their wider
practice.
Feedback from teachers attending 2023 Identifying Talent and Potential sessions:
"Today's session has been very thought provoking in an extremely positive way. It reminds us all to think
beyond technique and tradition, and to keep in touch with our deeper connection5 to music. Greatl"
"The key ideas I've taken away from today's training is to stand back and obsenfe more, allow children to
explore instruments, and communicate more with parents and schools about future musical
opportunities."
"The training had really useful ideas to use in whole class environments for warm up exercises and
inclusive activities that dony put children on the spot. It was really insightful. thank youl"
"Whilst l already feel confident in identifying talented children. I'm excited to try some more experimental
creative ideas with my students."
"I'll be rethinking my practice to consider more creative approaches."
"I've gained confidence in allowing freedom of exploration and creativity within music lessons. I'll be
using the interesting games and activities we learnt in the classroom."
"ITP taught me how our teaching methods can bring out different elements of musical potential and how
to create an environment for children to be curious and free to experiment. It was great. thank you!11

Young Sounds UK (The working name for Awards for Young Musicians)
Trustees, Report
For the Year Ended 31 December 2023
2. Furthering Talent
In 2023
1111
722
14
15,046
36
Young people participating
in the programme
Partnerships with Music
Education Hubs
Instrumental lessons
delivered
Get Together events
held
Furthering Talent enables musically talented young people from lower income families to sustain their instrumental
learning when state-funded whole class lessons stop. The programme's targeted and cost-effective approach ensures
that young people with emerging musical potential don't lose the opportunity to play an instrument in the transition from
primary to secondary school. In 2023 we worked across 14 areas of England to support 679 young people: Bournemoulh.
Christchurch and Poole, Bradford, Brighton and Hove, Hull, LeI￿sterShire, Lewisham, Liverpool, Manchester City,
Greater Manchester, North West Midlands, Nottinghamshire, Sheffield. and Worcestershire.
We want to give many more talented children across the country the chance to achieve in music, by transforming how
musical progression is viewed by children and teachers and therefore how it is supported. In Furthering Talent - and the
Individual Learning Plan (ILP) which is central to its approach we have developed a model that can effect this change.
This young person-led approach, combined with free instrumental lessons, termly Get Togethers, a Connector in each
area to manage all relationships and communications. plus Teachers, Forums has proven highly effective.
We work closely with our partners including schools and the partner organisations within Music Hubs. to identify the
young people who could benefit most from our help. Many are living in challenging circumstances which makes it crucial
that we effectively communicate with them, their families and their schools.
FT students in Hull visited the University of Hull for an aspirational university experience day.

Young Sounds UK (The working name for Awards for Young Musicians)
Trustees, Report
For the Year Ended 31 December 2023
In 2023
160
147
28
Music Leaders delivering
Furthering Talent
Music leaders receiving
CPD from Young Sounds
UK
Music Teacher
Forums with 168
attendances.
Developments in 2023
First piloted in 2009, the largest phase yet of Furthering Talent. a £3 million programme across 2018 to 2023 was
completed in March 2023. From April 2023 we became an NPO and National Youth Music Organisation, with funding
from Arts Council England and the Department for Education as well as a new three-year grant from Youth Music's
Catalyser Fund and from Youth Music's top-tier funding stream, Fund C, along with Young Sounds UK, Music Hubs and
other Trusts and Foundations.
Thanks to the team's hard work in reaching them the programme is supporting an increasingly diverse group of
young people. This includes children for whom English is an additional language, looked after children and
several who are asylum seekers and refugees. Many children have special educational needs. 420/0 of the
children are from the Global Majority.
Highlights of the year
Connectors
We established a network of experts across our Ambassador and Connector Hubs. We're calling them 'Conneclors' and
their role is to connect young people and families with musical experiences in their local area. They exist to find
appropriate opportunities and share valuable information on how best to support young people's musical development.
You can read more about them here.. htt s'.Ilwww.
oun
sounds.or
.uklconnectorsl
Online Individual Learning Plan: Partnership with Charanga
A student-led approach to teaching and learning is at the heart of Furthering Talent. Every student has an Individual
Learning Plan (ILP) recording three goals they have chosen for the term. For a beginner with few points of musical
reference, the ILP guides and prompts the student while allowing the teacher to tailor their lessons to an individual's
needs. Using this tool encourages a more personalised approach to progression. In September 2023 we proudly
launched the online version of our Individual Learning Plan on the Charanga platform, the UK'S largest online music
education resource. This will reach thousands of children across the nation, supporting them to lead their own musical
progression and helping their music leaders embed the ILP principles into their own practice. As of December 2023,
1.321 young people were actively using the Online ILP.
10

Young Sounds UK (The working name for Awards for Young Musicians)
Trustees, Report
For the Year Ended 31 December 2023
i).
IndNidual Learning Plan
Iv
Set creailve goaisT
Urlp￿
Whut ¥Drt of nw¥ic you likt*
I'm Interested in_.
Screen captures fmm the most recent version of the Online ILP demonstrating how students input their
interests and their profile.
Get Togethers
Every term our team of Connectors organise Get Together events for the children in their region. These are all kinds of
high-quality musical opportunities and are a chance for the young people to explore the wide world of music and find
inspiration for their own music making. We held 36 Get Togethers between January and December 2023. Examples
include=
11

Young Sounds UK (The working name for Awards for Young Musicians)
Trustees, Report
For the Year Ended 31 December 2023
In March 2023 children in Manchester congregated at Band on the Wall, the iconic live music venue and learning centre
which celebrates music of excellence from around the world. The young musicians had Ihe opportunity to explore looping
and experience playing together as a band. You can read more about Ihis day on our website..
oun
sounds.or
.uklband-
on-the-wall
Y*
plii
In July 2023 pupils from Bradford and Hull came together for a folk workshop led by musician Joe Broughton and his
Conservatoire Folk Ensemble. The Furthering Talent students sat side by side with the ensemble which provided an
incredible opportunity to meet and perform alongside professional musicians. They weren't just perfom)ing with the band.,
they were part of it! The Folk Ensemble were incredibly friendly and supportive, breaking down any barriers to turn the
room into one giant instrument. You can read more about this day on our website:
oun
sounds.or
.ukJan-afternoon-
with-'oe-brou
hton
12

Young Sounds UK (The working name for Awards for Young Musicians)
Trustees, Report
For the Year Ended 31 December 2023
In September 2023 pupils from Hull visited the University of Hull. Led by lecturers and students currently studying at the
university, the young musicians had a chance to experience a day in the life of an undergraduate music student. You can
read more about this day on our website:
oun
sounds.or
-uklhull-universi
We had great feedback from this day. A
young person who attended said "l absolutely loved today. It's seriously made me want to go to university to study music
now. Beforehand I literally had no plans on what I wanted to do with my life. and l just feel way better. It's opened my
eyes. Thank you." Moreover. evaluation of the day revealed:
100 % of attendees would like to go to the university again
100 % of attendees are now considering going to university
100°/o of attendees feel they understand better what university lrfe could be like for them.
13

Young Sounds UK (The working name for Awards for Young Musicians)
Trustees, Report
For the Year Ended 31 December 2023
In November 2023, pupils from the North West Midlands worked with Bimiingham Contemporary Music Group (BCMG) to
compose music based on the movement and actions of clowns. Students worked in small groups to explore clown
movements which were then developed into musical ideas which represented each movement. After a quick break,
students listened to the second movement of Igor Stravinsky's Three Pieces for String Quartet, which was inspired by the
music hall performer and clown Little Tich. Thinking about the shape and character of their own created movements,
students explored their musical ideas and developed them further. Towards the end of the workshop they showcased
their work. You can read more about this day on our website:
oun
sounds.or
.uklclownin
-around-with-binnin
ham-
contem
ora
-music
rou
'It was an amazing day - my favourite part was splitting from the group to compose our own music."
Young musician, 12, keyboard
In addition to the Get Togethers, students in Lewisham also eXperIen￿d a day of gospel music in March 2023. We
partnered with the Gospel Music Industry Allian￿ to host a day of workshops serving as an introduction to the genre,
exploring its techniques, history and themes. The sessions were facilitated by musicians from The Spirituals Choir. You
can read more about the event on our website:
oun
sounds.or
.ukl
os
el-music-da
As part of the evolved Furthering Talent model. we'll be inviting pupils who aren't on the programme to Get Togethers to
offer musical opportunities to more young people.
other key elements of the programme
Individual lessons.. essential, but often too expensive for many families. Furthering Talent's support is crucial.
A total of 15,046 instrumental lessons were delivered across 2023.
Playlng together.. ensemble opportunities are vital for children's musical development. 80% of Furtherlng Talent
students In our latest evaluation report have played with olhers during the previous term. Opportunities included
playing in school in a regular ensemble or group, or in a one-off concert or production,. attending the Hub's music centre
or practice club,. playing with a local band or group outside school; and playing in a family or social setting.
Impact for families.. parents and carers regularly tell us about the impact Furthering Talent has had on their child and on
the wider family too. Here's the mother of two siblings from Bradford:
14

Young Sounds UK (The working name for Awards for Young Musicians)
Trustees, Report
For the Year Ended 31 December 2023
'For us, being a family with no musical background, Furthering Talent has provided the kids with so many
different opportunities to discover how big the world of music is. improve their music playing and
discover new instruments. It's not only the economic support Furthering Talent provides, but the chance
to take part in activities that would not be available to them otherwise. Thanks to Furthering Talent, our
eldest wants to make a career in music. and his next goal is to attend the Leeds Conservatoire every
Sunday, with a view to go to university and study music."
Bursaries
Children on the programme receive a bursary to use on expanding their musical interests and knowledge. 381 young
people used these bursaries for activities including=
Courses: young musicians have been able to use their bursaries to attend additional music courses and
workshops. An 11 year old violinist from WOr￿StershIre used her bursary for membership fees to join the
Children's Film Orchestra.
Examination fees.. many young people are using their Furthering Talent bursaries to help with the costs of their
exams, including purchasing books and other resources and exam fees. 11 year old violinist Elhan from Bradford
used his bursary to pay to take his Grade 4 ABRSM exam which he passed with distinctionl His mother said..
"Ethan is over the moonl Thank you for all you do for children.
Instruments: young musicians have also used their bursary to purchase instruments such as keyboards and
guitars so they can practise at home with their own instrument. For example. a 14 year old musician from
Bradford used her bursary to purchase an electric guitar. Her teacher wrote: "You should have seen her smilel
She said that she must be the 'luckiest person alive..
Musical experiences: Furthering Talent pupils have also used their bursaries to access other music experiences
such as going to concerts, gigs and musicals and museums. A 16 year old guitarist from Liverpool used his
bursary to visit The Beatles Story Museum with his family.
Teachers, Forums
Between January and December 2023, we held 28 Teachers, Forums both online and in person. Sessions included
training on gathering effective evaluation feedback. working with pupils to explore their goal options for their Individual
Learning Plans and discussions on handling the transition of children from primary to secondary school.
Evaluating Furthering Talent's impact for young people
By being involved in Furthering Talent, we're aiming for young people to=
have an increased sense of ownership of their musical joumey and to have experienced the joy of becoming better
musicians, of discovering new music, and playing with others.
have an increased self-belief, resulting from playing an instrumenl to the best of their ability and seeing themselves
succeed musically.
We ask Furthering Talent pupils and their teachers to complete tennly feedback surveys. Through the most recent suNey
completed in December 2023, we found:
95 /0 of pupils said Furthering Talent made them feel welcome and induded.
910/0 of pupils say Furthering Talent has given them the opportunity to access musical activities they otherwise
wouldn't have experienced.
82 % of pupils agree they have a say in what they do in their music lessons.
15

Young Sounds UK (The working name for Awards for Young Musicians)
Trustees, Report
For the Year Ended 31 December 2023
730/0 of teachers say that being part of Furthering Talent has helped them to develop their student-centred teaching
practice.
Recent quotes from Furthering Talent teachers about their students:
"Music really gives A a purpose to attend school. She has had a poor attendance record but always attends
school when her lesson takes place. She's making good progress and is really keen to meet the other
children on the programme, especially at the Get Togethers." Teacher of A, 12, trumpet, Bradford
"L has made very good social progress this terni. She has transfomied from a shy, nervous pupil who could
hardly play a note in front of her group without laughing nervously to being able to perforni with confidence
to her peers., Teacher of L, 13, cornet, Hull
"J stood out in whole class sessions last year as a pupil who could technically achieve on the violin. Since
starting the viola on Furthering Talent this year. she has picked up reading skills quickly, her enthusiasm for
the instrument seems to have grown, and after two rehearsals at our beginner string orchestra she
confidently performed in our Christmas concert. She's clearly supported by her mum (who has attended the
Get Together and practice clubs) but I think her progress has mostly been supported by her own desire to
achieve and explore new repertoire quickly in lessons.. Teacher of J. 9, viola, Sheffield
3. Awards
The biggest barrier many of our young people face is a financial one= developing musical potential is extremely expensive
and since our launch we've supported more than 3000 young people aged 5-18 who would otherwise find their musical
costs prohibitive.
Grant making policy
We make Awards to talented instrumentalists. music creators and singers. making music in any genre, who are resident
and studying in the UK. Applicants send in a five-minute video of themselves playing their instrument or singing, or of
their composition and they complete an online application form. When a conditional offer of an Award is made,
parentslcarers are required to provide documentary evidence of financial need. (All applications are means tested.)
Applicants are asked to tell us about their musical journey in their application, including their ambitions for the future and
their proudest musical moment. We also ask them to outline some of the musical costs they might need help with. We
fund a wide range of musical needs including instruments. music lessons and other costs such as travel and software.
We keep our funding as flexible as possible to meet young people's individual needs.
An independent panel of adjudicators with expertise in a range of genres decides on all aspects of the grants made, using
an inclusive and rigorous decision-making methodology.
16

Young Sounds UK (The working name for Awards for Young Musicians)
Trustees, Report
For the Year Ended 31 December 2023
In 2023
312
£125,850
£18,000
25%
Instrumentalists, singers
and music creators offered
Awards
Average household
income of Award winners
of Award winners
identified as Global
Majority, 11 % as disabled
in funding was granted
Young musicians can apply at any point in the year, with grants made four times a year. allowing young people to apply
when they most need the funding. Decisions are made within 13 weeks.
Eligibility criteria
Age. The young person must be at least 5 and under 18 when they apply.
Residency status.. The young musician must satisfy the govemment criteria in force at the time of application.
We welcome applications from refugees and asylum seekers.
Musical study: The young musician must be leaming a musical instrument, singing or creating music as a
composer or producer.
Evidence of musical talentlpotential.. We look for evidence of high musical talenupotential. Our Awards
programme is not aimed at beginner-level musicians, nor do we expect all applicants to have taken top-level
grades or be members of national ensembles. We understand that everyone is on their own musical journey.
Applicants provide video evidence of their playing.
Evidence of financial need: the Awards programme is means-tested. Our eligibility threshold is modelled on the
lowest level threshold employed by the Government's Music and Dance scheme. This looks at the annual, gross,
family income of the home in which the young person mainly lives and takes into account the number of
dependent children within that household.
Supporting Award winners beyond funding
The programme provides a range of other support to young people beyond financial help including mentoring, regular
online events, Awards Days, and our Attune chamber music projects:
Mentoring: We continued to develop our Exchange programme with the BBC Orchestras. The programme
provides a mutual exchange of skills, ideas and eXperIen￿S be￿een musicians at very different stages of their
musical journeys. Additionally, many of our Alumni are trained to mentor younger musicians. offering them guidance
and support.
Workshops: We offer a variety of workshops to our Award winners, often led by our Patrons. These are targeted to
particular genres, instruments or types of perfomiance. For example our series of Attune workshops focus on
chamber music. You can read more about our most recent Attune projects on our website..
17

Young Sounds UK (The working name for Awards for Young Musicians)
Trustees, Report
For the Year Ended 31 December 2023
o Attune at the Royal Academy of Music with the Cty of London Sinfonia in autumn 2023:
oun
sounds.or
.uklattune-2023
o Attune at the Royal Birmingham Conseniatoire in spring 2024: vmw.
oun
sounds.or
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Awards Days: These events bring young musicians together to collaborate and learn. They involve various activities
such as panel discussions, side-by-side rehearsals with professionals and composition workshops. The young
people and professionals often perform the works they've been exploringlcreating to friends and family at the end of
the day. Events cover a range of genres including rock. pop. contemporary. jazz and classical music. You can read
about our most recent Awards Days on our website:
Awards
Day in
September 2023 at the
oun
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-Iccm
Awards Day in October 2023 at Maida Vale Studios with the BBCSO: www.
-2023
London
College of Contemporary Music:
oun
sounds.or
.uldawards-
Regular webinars, giving young people to chance to extend their industry knowledge. Examples include sessions
on using music software and maintaining wellbeing.
Tickets to rehearsals, concerts and masterclasses: we work with partners to provide tickets to attend
professional performances, rehearsals, and masterclasses. This offers valuable exposure and learning opportunities.
Performance opportunities: the opportunity for vital performance experience during our fundraising concerts held
at prestigious or interesting venues. Young performers work closely with our Events Producer, Jessica Burroughs
(Principal Cellist at Opera North) who provides expert coaching and guidance. In 2023, 35 young musicians had
the opportunity to perform in front of an audience, often for the very first time. You can read more about some
of these concerts and the young musicians who performed. on our website:
A concert at Third Man Records in June 2023: www.
records
A concert at Strawbery Hill House in July 2023: www.
oun
sounds.0
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ht-of-music-at-third-man-
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Evaluating the Awards Programme's impact for young people
We ask Award winners to complete a feedback survey at the end of their year on the programme. In our December 2023
survey:
91 % of Award winners said that the Awards Programme has increased their ability to reach their musical goals.
91 % of Award winners thought that the Awards Programme has given them the opportunity to access musical
activities they otherwise wouldn't have experienced.
770/0 of Award winners agreed that the Awards Programme has increased their Confiden￿ in pursuing a musical
career.
Our Awards team and evaluation colleagues review the survey findings together, so young musicians, feedback can
be used to develop the programme and offer new opportunities.
18

Young Sounds UK (The working name for Awards for Young Musicians)
Trustees, Report
For the Year Ended 31 December 2023
"Young Sounds has helped me to express myself through music. The funding has supported me
massively, and has helped me to attend weekly band rehearsals. as well as lessons and concerts. Music
has given me so many happy memories, and Young Sounds, through its support, has meant that i
will keep progressing in music and make many new memories. ' Anonymous young musician
"Young Sounds have allowed me to pursue my music endeavours with greater confidence and
determination. The financial assistance has helped me afford essential musical equipment, attend
workshops and mentoring sessions, and participate in perforniance opportunities that have been
instrumental in my growth as an artist. Young Sounds. continued support and commitment to fostering
young musicians like me seryes as a source of inspiration and motivation. Thank you once again for your
generosity and belief in the power of music. l am deeply honoured to be a recipient Df your support and
will strive to make the most of the opportunities it affords me.,: Dejan, 16, vlolin, Stroud
"Being on the Awards programme helps me experience music a lot more. I really love the free concert
tickets and my favourite part of last year was going to the BBC Pron7s. This year n7y A ward will help me
to join more music courses and play along with children like me." Rebecca, 10, violin, Barking
"Thank you so much for all that you have done for me during my time with Young Sounds. The Award
has helped me immensely with many things. It has given me the confidence to pursue a career in music,
financed my musical needs, helped me realise my love for music production, given me many connections
and friendships with other young musicians and so much more. l am forever thankful for all the help I
have received fmm you all." Kadisha, 16, piano, Liverpool
"Young Sounds honestly has positively benefitted my musical development hugely as I have a freedom
that I did not have before financially and therefore increased opportunities in the musical world. I have
been able to attend more violin lessons which has impmved my perfom?ing skills substantially and given
me the chance to also participate in advanced youth orchestras like the CBSO. Afterperfomiing at
Florian Leonhard Fine Violins with the chamber project and at Maida Vale Studios with prestigious
players and conductors, I have not only met countless young musicians like me but felt inspired by
conversations with current professionals and am truly grateful for these experiences." Sharon. 16, violin
and piano, Birniingham
"Young Sounds, support means the world to us and will have a tremendous impact on the life and career
of my daughter Anna as she aspires to become a musician. Thanks to your kind contribution, we were
able to have much-needed financial assistance towards my daughterfs Junior Royal Conservatoire of
Scotland tuition. She is passionate about pursuing a career in music and this enabled her to access
quality education and participate in valuable competitions that will shape her path towards success. l am
happy to share that during summer of this year Anna has won the Aberdeen and North East of Scotland
Music Festivall
Your unwavering support for young musicians such as Anna not only empowers them to follow their
dreams but also reinforces the importance of nurturing artistic talent within our community. By investing
in her musicaljourney, you are significantly contributing to the enrichment of our cultural heritage.
Once again, thank you from the bottom of our hearts for yoiir comrp7itment to fostering young musical
talent. We are imn7ensely grateful for your generosity." Father of Anna, 12, violin, Aberdeen
19

Young Sounds UK (The working name for Awards for Young Musicians)
Trustees, Report
For the Year Ended 31 December 2023
Many Alumni of our programme are now shaping the sector for future generations. They include saxophonist, broadcaster
on BBC Radio 3 and AYM Patron Jess Gillam MBE, Mahaliah Edwards (violinist, Alumna Trustee and presenter of
Sounds Connected on BBC Radio 3) and Caius Lee (Director of College Music at Worcester College, Oxford and a
former Alumnus Trusteel. For us, it isn't about finding the next big star (though we're of course proud of the many notable
achievements of our Alumni). it's about ensuring that any young person who wants to lead a musically fulfilling life can do
so, without being excluded simply because of their financial circumstances.
"Young Sounds inspired me to pursue a career in music. Before their Awards Day with the BBCSO in
2016, 1 was unsure what I wanted to do, but that set me on the path that l am now on. l am just about to
finish my fourth year at Trinity Laban Conservatoire where I have spent my time exploring as many
different avenues of playing as possible. I have recently received a graduate music assistant position at
Wells Cathedral School where I will be taking a year out before applying to a Masters at other London
institutions and abmad. I recently had my first pmfessional gig with the BBC Concert Orchestra. Without
A YM I wouldn't be doing what l am today and I cannot thank everyone involved enough." Jonathan, 22,
trombone, Alumnus
4. Innovation and Research
We use our independent role in music education to lead new thinking and action on talent development. In 2023 we were
delighted to work with Music Mark, UK Music and Youth Music to co-convene the first in a planned series of music
educationlmusic industry roundtables, hosted at the Treasury with support from the Department for Culture Media and
Sport and the Department for Education. These will be looking at how young people's individual pathways from music
education to the music industry can be better supported. We also continued to develop our long-term partnership with the
BBC Symphony Orchestra to plan the expansion of our mentoring programme, Exchange, which provides a mutual
exchange of skills, ideas and experiences between musicians at very different stages of their musical joumeys
Fundraising
Overview of the year
Our revenues grew strongly again in 2023 and totalled £1,403,828. Donations came from a variety of sources: individual
donors, grant making trusts, public funders and a range of donated goods and services. We're confident that Young
Sounds UK'S strategic approach and high impact will continue to attract increased funds for our work over the coming
years.
Champions for Children 2023
We participated for the second time in The Childhood Trust's Champions for Children match funding campaign. Including
Gift Aid, we raised £32,969 to support our Furthering Talent programme in Lewisham.
Big Give Christmas Challenge 2023
We had our most successful Big Give Christmas Challenge to date, having participated in this match funding campaign
every year since 2011. We raised a total of £81,561 including Gift Aid- a great achievement.
20

Young Sounds UK (The working name for Awards for Young Musicians)
Trustees, Report
For the Year Ended 31 December 2023
Trusts and Foundations
We are hugely appreciative of the support of the following funders during 2023:
Andrew Lloyd Webber Foundation. Arts Council England. Cecil King Memorial Foundation. Colwinston Charitable Trust,
D And H Charitable Trust, Easl Devon Music, Edward Cadbury Charitable Trust. Golsoncott Foundation, Hadrian Trust,
Harold Hyam Wingate Foundation, Martin Charitable Trust. Mayfield Valley Arts Trust, Middle Way Trust, Misses Barrie
Charitable Trust, Myrtle Charitable Trust, Patricia Routledge Charitable Trust, R. E. Chadwick Charitable Trusl. Scops
Arts Trust, The 29th May 1961 Charity, The Alice Ellen Cooper Dean Charitable Foundation, The Andor Charitable Trust.
The Ashford Trusl. The Charlotte Bonham-carter Charitable Trust, The Cheryl King Trust, The Childhood Trust, The
Childwick Trust. The D'oyly Carte Charitable Trust, The Edward And Dorothy Cadbury Trust, The Finderman Charitable
Trust. The John Thaw Foundation, The Karlsson Jativa Charitable Foundation, The Ken and Edna Morrison Charitable
Trust. The Maple Trust, The Margaret and David Walker Trust. The Percy Hedley 1990 Charitable Trust, The Reed
Foundation, The Sir James Knott Trust. The Sir Tom Cowie Charitsble Trust, The Slater Foundation Limited. The Sylvia
and Colin Shepherd Charitable Trust, The Thistle Trust, The Tulip Charitable Trust, The Veronica Awdry Charitable Trust.
Warner Priory Charitable Trust, Youth Music, and one funder who wishes to remain anonymous.
Angels
Our ne￿ork of individual donors continued to widen during 2023. Our generous Angels commit to either donate or raise
at least £1,000 each year, in support of the talented young people we help. We had the support of ten donors contributing
£5,000 or more during the year and four supporting us with £10,000 or more. We would particularly like to thank our
current Angels, as follows:
Young Sounds UK Archangels.. Dr Linda Beeley, David Gilmore, Louise Kaye, Dr Linda Patterson OBE, Dave and
Veronica Russell, and two Archangels who wish to remain anonymous.
Young Sounds UK Guardian Angels.. Lynda Beament. Douglas Bruce, CA, LRAM, ARCM, ARCO. Hywel Davies,
Terry Hitchcock. Philip Jones and Noel Qualter, Stephanie and Marek Kulesza, Aileen Lauler, Margaret and David
Walker, and three Guardian Angels who wish to remain anonymous.
Young Sounds UK Angels.. Tim and Helen Berg. Alan and Patricia Botterill, Handa Bray MBE DL, Richard and
Elena Bridges, Robert Canavan. Ashley and Zoe Claymore, Marilyn and Michael Dolan and Ria Hopkinson. David
Emmerson, Madeleine Gantley, Giles Gostwick. Christine Gough. Roger Gundry, Yvonne Horsfall Turner, Ulrike
Horstmann-Guthrie. Joy Humphreys, Mary and Peter Isaac, Jenny James, Natalia Jimenez and Edmund Fawcett,
Ayanna Witter-Johnson and Val Harding and Trevor Walker. Kathryn Jones, Dr Ursula Jones OBE, Richard and
Honor Juniper, Colin Kirkpatrick. Michael Lewin, Beverley Mason and Lara Pysden, Miranda Ramphul Mccormick,
Primrose Metcalf, Paul and Ruth Meyer and Rachel and Shaun Moore. Michael Mitchell and Greg Taylor, John
Naulls, Gemma and John O'connor, Dr Dele and Eleanor Olajide, Jessica Osbome, Andrew Palmer, Sue Pandit,
Elizabeth Rantzen, Julia Roth. Julian Schild, Lavinia Sealy DL and Nick Sealy, Thomas Sharpe KC, Terence and
Sian Sinclair. Janis Susskind OBE, Robert and Debbie Taussig. Richard and Gail Taylor. Diana Toeman OBE,
Professor Sir David Warrell KCMG, Richard and Alison Williams, and two Angels who wish to remain anonymous.
Champions
We also grew the number of Young Sounds UK Champions who commit to giving at least £5 a month to 80 people.
The Robert Lewln Clrcle
To reflect the generosity of our Young Sounds UK legators we fomied the Robert Lewin Circle in autumn 2023, launching
the group at our first legacy event in London. Douglas Bruce, CA, LRAM, ARCM, ARCO, Hywel Davies, Giles Gostwick.
Elin Lloyd, Clare and Chris Loosley, Julia Roth, Diana Toeman OBE, Andrew Tween, and 18 legacy pledgers who wish to
remain anonymous.
21

Young Sounds UK (The working name for Awards for Young Musicians)
Trustees, Report
For the Year Ended 31 December 2023
We continued to be very appreciative of a very substantial legacy from the estate of Quintin and Monica Des Clayes
received in late 2019. Their generous expendable endowment has enabled the establishment of a new group of Awards
and support for our Furthering Talent programme.
During 2023 we received further legacies in the names of David Bateman and Barbara Ward. In addition. Young Sounds
UK was the beneficiary of a number of funeral collections and a very significant in memory donation during the year. in
honour of Matthew Rye.
Fundraising concerts
We continued to develop our network of potential donors, volunteers and friends throughout the year. We held nine
fundraising concerts during the year, five in London and one each in Edinburgh, Manchester, Oxford and North Yorkshire.
Our major autumn concert in November 2023 at Stationers, Hall in London was hosted by Young Sounds UK Patron,
broadcaster and children's author Zeb Soanes. We aim to source our venues pro-bono with catering often covered by our
generous donors too.
.4T ?:
is
Ib ,Ib,
Young Sounds UK supported musicians perfomiing at our autumn fundraising concert in London
Fundraising for Young Sounds UK
Since 2016 supporter Louise Kaye has held regular concerts in aid of Young Sounds UK. Her amazing support continued
during 2023. for which we're hugely grateful. We're also grateful to corporate supporters. community groups, students
and amateur orchestras who have fundraised for us by holding charity concerts. Together, nearly £18,000 was raised by
these to help the young people we're here for: we can't thank our fundraisers enough.
Young Sounds UK'S fundraising practices
We carry out the majority of our fundraising in house by employing a full time Development Manager who oversees
fundraising through individuals and Trusts and Foundations. Young Sounds UK'S Chief Executive also writes large
strategic and public funding applications. We also have a full time Development Adminislrator to support the
Development Manager. Occasionally, we also use the services of freelancers to assist with Trust and Foundation
fundraising. Committed supporters also fundraise on our behalf.
We have voluntarily chosen to be a member of the Fundraising Regulator and pay a flat fee of £50 per year. We
subscribe to their Code of Conduct and review our practices annually to ensure they remain aligned.
There were no incidents of non-compliance in 2023 and we received no complaints about our fundraising practice.
22

Young Sounds UK (The working name for Awards for Young Musicians)
Independent Auditors, Report to the Members and Trustees
For the Year Ended 31 December 2023
Our fundraising activities are monitored as follows-
Monthly, through two sub-committee groups- one focusing on individual giving and the other on Trust and
Foundation and Public fundraising. The sub-committee groups, members comprise the Chief Executive, the
Development Manager, Development Administrator and a minimum of two Trustees.
Quarterly, through Trustee meetings: the Board papers include a budget with a year-end forecast and a twelve
month indicative cash flow. Fundraising is always an agenda item at every meeting and progress is reviewed.
Quarterly. through a fundraising strategy review: the Chief Executive and Development Manger review activities
and targets as set out in our fundraising strategy.
We have a privacy notice, published on our website (updated and ratified annually by Trustees. most recently in June
2024) which states how supporters and other members of the public can control how communications with them are
managed. In compliance with GDPR, we are also responsive to all communicalions preference updates and act
according to the wishes of the supporter. We do not make persistent direct requests for donations and aim to achieve the
correct balance between updating and thanking supporters and appealing for donations. We also aim to create personal
relationships with our supporters and aspire to make them cotnfortable to know that they can raise any concems directly
with the Development Manager andlor Chief Executive. As we have had no complaints about our fundraising practice in
2023, we believe this suggests that we have managed to achieve this balance.
Our support community
Ou community of supporters are committed to giving their time and expertise in working with the organisation's staff team
to help us meet our objectives and make a considerable difference to our impact. Our Communications team, chaired by
Young Sounds UK'S Trustee Lynda Beament. made further valuable contributions in 2023.
In addition. our Trustees continued to give very signfficant support to the staff team throughout the year, providing their
time and expertise over a range of areas including business planning. fundraising, financial management, sector insight,
communications support, networking etc.
Governance
Objects of the charity
As stated in our formal objects, we were established to advance public education and appreciation of the art and science
of music, with particular emphasis on the promotion of specialist music education amongst children and young people up
to the age of 18 through the establishment and maintenance of scholarships and other awards. Our aims fully reflect the
purposes for which the charity was established: to give musically talented young people between the ages of 5 and 18
the opportunity to realise their full creative potential where this may be limited by the financial circumstances of their
parents or guardians.
Organisational structure
Young Sounds UK employs Hester Cockcroft as its full time Chief Executive; she is responsible for managing the
charitys programmes and for making ongoing organisational decisions. The Chief Executive makes strategic
recommendations to Trustees and delivers strategy according to decisions reached by the Trustees on these
recommendations. Hannah Turner is Awards Programme Manager. Sanpreet Janjua is our Development Manager, with
Neil Phillips Programme Manager for our Furthering Talent programme. Matthew Tiller is our Digital and Communications
Co-ordinator. Charlotte Lincoln is our full time Awards Administrator and Katherine Rigg was engaged as full time
Development Administrator in January.. Georgie White Winter is currently covering Katherine's maternity leave. Naomi
Wellings also worked part-time across 2023 as Programmes Producer.
23

Young Sounds UK (The working name for Awards for Young Musicians)
Independent Auditors, Report to the Members and Trustees
For the Year Ended 31 December 2023
Sarah Barton-wales is our part time Partnerships Manager, Lee Marchant is our part time Programme Producer for
Furthering Talent and Jessica Burroughs is our Events Producer (all work part-time on a freelance basis). Maria
Hemmings continues to provide expert support to Young Sounds UK as our freelance part-time Finance Officer. In April
2024 Madelyn Brown joined as our first Finan￿ and Operations Director. The charity has never had a physical office in
its 25 years. All staff members work from their respective homes.
Trustees
Young Sounds UK is committed to increasing the diversity of its Board of Trustees, which is core to its Equity and
Diversity Action Plan (now integrated into our Business Plan). All new Trustees. including Alumni Trustees, undertake an
induction process and ongoing training is arranged as necessary for good practice purposes and to ensure full
compliance {e.g. safeguarding updates). In 2023 Max Brown, studying music at Edinburgh University joined the Board as
an Alumnus Trustee, replacing Mahaliah Edwards at the end of her two-year term. Mahaliah particularly contributed to
our communications work, on camera and in print, for which we are extremely grateful. Ayanna Wither-Johnson retired
from the board in September. but continues on as both a Patron and an Angel.
The current Trustees represent a significant asset to the charity and will remain a major component of our future success.
All Trustees give their time voluntarily and none have any beneficial interest in the company. All are members of the
company and guarantee to contribute £1 in the event of a winding up.
Sub-committees
Young Sounds UK runs six sub-committees comprising staff and Trustees (the Chief Executive attends all of them)" these
take place online. We're currently running four monthly= Audit and Risk, Individual Donors Support, Trust and Public
Funder Support. and Communications and two quarterly: EDI and Nominations.
Review of activities and public benefit
The impact of our support for the young people we help has considerable public benefit. By enabling young musicians to
overcome the financial, social and other obstacles they face, our work not only benefits the recipients but also their
families. schools and wider communities. Musical achievement opens doors for young people which would otherwise be
closed to them. To give just one example, many of the children we help go on to gain full scholarships to highly regarded
schools and often on to music college and top-tier universilies- this has a transfomialive impact on their social mobility
and life chances. It also helps to create a more diverse and inclusive music industry.
We review our aims. objectives and activities annually- we ensure these are carried out effectively through our business
plan, in order to make certain that our work continues to be of benefit lo the public, in particular to children and young
people, as set out in our Objects. We monitor all our beneficiaries on the basis of voluntary declarations so that we can
continue to improve our equity and diversity outcomes.
Safeguarding
Young Sounds UK ensures that all the young people it supports are kept safe. All staff. Trustees, freelancers and
volunteers are regularly DBS checked. Our Safeguarding policy is reviewed annually and ratrfied by Trustees (most
recently in June 2024). Staff and Trustees are required to participate in safeguarding training.
Financial review
The growth highlighted earlier in the report demonstrating progress against our strategic objectives led to total
expenditure increasing by 7 % to £1,511,047 (2022.. £1,406.424). In line with our increased reach and engagement across
our programmes Charitable Activities generated the bulk of the increase (an increase of £80,497 compared to 2022), with
capacity needs in particular leading to more modest increases in the costs of Raising funds (an increase of £5,937
compared to 2022) and Support costs (an increase of £18,189 compared to 2022).
24

Young Sounds UK (The working name for Awards for Young Musicians)
Independent Auditors, Report to the Members and Trustees
For the Year Ended 31 December 2023
The increased costs in the year were at least partially mel by an increase in total income, which rose to £1,403,828
(2022.. £1,353,901), and we remain grateful to all of our donors and funders who support the expansion of our work.
The resulting in-year deficit was more keenly felt by the unrestricted funds, and the trustees acknowledge that the level of
carried unrestricted funds at 31 December 2023 is less than the target amount in the reserves policy. The truslees are
taking steps to improve the position in 2024. including reviewing cost allocation practices, in particular in relation to staff
time, and they are also intending to exercise the charity's power to apply the expendable endowment for general
purposes. There are no material uncertainties about the charity's ability to continue as a going concern.
Reserves policy
As of 31 December 2023 we held £245,336 in restricted funds which are committed to our ongoing work on our
Furthering Talent and Awards programmes. We have £55.209 in unrestricted funds, which is less than our target of 6
months operating costs though the charity is intending to exercise its power to apply the expendable endowment for
general purposes in 2024. At 31 December 2023 our endowment funds are £354.329.
Investment policy
Trustees have decided that unrestricted funds induding expendable endowment funds, the use of which is not foreseen
for at least six months and which includes any free reserves designated under the reserves policy, may be invested in
low-risk funds managed by specialists in handling charitable investment portfolios. Such investments must be capable of
liquidation at relatively short notice.
Risk factors
The risks affecting the charity are assessed by Trustees via a Risk Register, overseen and updated quarterly by the
charity's Audit and Risk Committee before being tabled at Board meetings. All necessary steps are taken to mitigate the
risks identified as priorities in temis of likelihood and impact.
Asset cover for funds
Note 12 sets out an analysis of the assets attributable to the various funds. These assets are sufficient to meet the
charity's obligations on a fund-by-fund basis.
Young Sounds UK owns a few remaining high-quality violins from Robert Lewin's original legacy. They a￿ currently
being held by Florian Leonhard Fine Violins prior to their intended sale: the monies raised will support the development of
more talented young musicians from low-income families. We have received written confimiation from Florian Leonhard
that the instruments are appropriately insured and will be carefully maintained until they are sold.
Statement of responsibilities of the Trustees
The Trustees (who are also directors of the charty for the purposes of company law) are responsible for preparing the
Trustees, report and the financial statements in accordan￿ with applicable law and United Kingdom Accounting
Standards, including Financial Reporting Standard 102: The Financial Reporting Standard applicable in the UK and
Republic of Ireland (United Kingdom Generally Accepted Accounting Practice)-
25

Young Sounds UK (The working name for Awards for Young Musicians)
Independent Auditors, Report to the Members and Trustees
For the Year Ended 31 December 2023
The Truslees are required to prepare financial statements for each financial year, which give a true and fair view of the
state of affairs of Ihe charity and the group and the incoming resources and application of resources, including ihe net
income or expenditure, of the charity and the group for the year. In preparing those financial statements the trustees are
required to:
Select suitable accounting policies and then apply them consistently-
Observe the methods and principles in the applicable Charities SORP"
Make judgements and accounting estimates that are reasonable and prudent.
stste whether applicable accounting standards and statements of recommended practice have been followed,
subject to any material departures disclosed and explained in the financial statements; and
Prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity
will continue in operation.
The Trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time
the financial position of the charity and the group and which enable them to ensure that the financial statements comply
with the Companies Act 2006.
The Trustees are also responsible for safeguarding the assels of the charity and hence for taking reasonable steps for
the prevention and detection of fraud and other irregularities.
In so far as the Trustees are aware:
there is no relevant audit information of which the charitable company's auditors are unaware. and
the Trustees have taken all steps that they ought to have taken to make themselves aware of any relevant audit
information and to establish that the auditors are aware of that information.
The Trustees are responsible for the maintenance and integrity of the corporate and financial information included on the
charity's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements
may differ from legislation in other jurisdictions.
Members of the charity guarantee to contribute an amount not exceeding £1 to the assets of the charity in the event of
winding up. The Trustees are members of the charity but this entitles Ihem only to voting rights. The Trustees have no
beneficial interest in the charity.
Auditors
Albert Goodman Chartered Accountants were appointed as the charitable company's audilors during the year and have
expressed their willingness to act in that capacity.
This report was approved by the Board of Trustees on 10 September 2024.
Philip Jones (Chair)
Trustee
Fiona Harvey
Trustee
26

Young Sounds UK (The working name for Awards for Young Musicians)
Independent Auditors, Report to the Members and Trustees
For the Year Ended 31 December 2023
Opinion
We have audited the financial statements of Awards for Young Musicians (the 'charitable company,) for the year ended
31 December 2023, which comprise the Statement of Financial Activities, Balance Sheet and Notes to the Financial
Statements, including a summary of significant accounting policies. The financial reporting framework that has been
applied in their preparation is applicable law and United Kingdom Generally A¢￿pted Accounting Practice, including
Financial Reporting Standard 102.. The Financial Reporting Standard applicable in the UK and Republic of Ireland (United
Kingdom Generally Accepted Accounting Practice).
In our opinion the financial statements..
give a true and fair view of the state of the charitable company's affairs as at 31 December 2023 and of its
incoming resources and application of resources for the year then ended.,
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
have been prepared in accordance with the requirements of the Companies Act 2006.
Basis for opinion
We conducted our audit in accordance with Intemational Standards on Auditing (UK) {ISAs (UK)) and applicable law. Our
responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial
statements section of our report. We are independent of the charitable company in accordan￿ with the ethical
requirements that are relevant to our audit of the financial slatements in the UK. including the FRC'S Ethical Slandard,
and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit
evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
Conclusions relating to going concern
In auditing the financial statements, we have concluded that the trustee's use of the going concem basis of accounting in
the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not idenlified any material uncertainties relating to events or conditions
that, individually or collectively, may cast significant doubt on the entity's ability to continue as a going concern for a
period of at least 12 months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant
sections of this report.
Other information
The trustees are responsible for the other infomiation. The other information comprises the information included in the
Trustees, Report. other than the financial statements and our auditor's report thereon. Our opinion on the financial
statements does not cover the other infonnation and. except to the extent otherwise explicitly ststed in our report, we do
not express any form of assurance conclusion thereon.
In connection with our audit of the financial statements. our responsibility is to read the other infonnation and, in doing so,
consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained
in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent
material misstatements, we are required to determine whether there is a material misstatement in the financial statements
or a material misstatement of the other information. If. based on the work we have performed, we conclude that there is a
material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
27

Young Sounds UK (The working name for Awards for Young Musicians)
Independent Auditors, Report to the Members and Trustees
For the Year Ended 31 December 2023
Opinion on other matter prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
the information given in the Trustees, Report, which includes the Directors, Report prepared for the purposes of
company law for the financial year for which the financial statements are prepared is consistent with the financial
statements., and
the Directors. Report included within the Trustees. Report have been prepared in accordan￿ with applicable
legal requirements.
In the light of our knowledge and understanding of the charitable company and its environment obtained in the course of
the audit, we have not identified material misstatements in the Directors, Report included within the Trustees, Report.
Matters on which we are required to report by exception
We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you
if, in our opinion:
adequate and proper accounting records have not been kept, or retums adequate for our audit have not been
received from branches not visited by us- or
the financial statements are not in agreement with the accounting records and returns. or
certain disclosures of trustees, remuneration specified by law are not made., or
we have not received all the information and explanations we require for our audit.
the trustees were not entitled to prepare the financial statements in accordance with the small companies, regime
and take advantage of the small companies. exemptions in preparing the Trustee Directors, Report and from the
requirement to prepare a Strategic Report.
Responsibilities of trustees
As explained more fully in the Statement of Trustees, Responsibilities set out on pages 25-26, the trustees (who are also
the directors of the charitable company for the purposes of company law) are responsible for the preparation of the
financial statements and for being satisfied that they give a true and fair view. and for such intemal control as the trustees
determine is necessary to enable the preparation of financial statements that are free from material misstatement,
whether due to fraud or error.
In preparing the financial statements. the trustees are responsible for assessing the charitable company's ability to
continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern
basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations. or have
no realistic alternative but to do so.
Auditor's responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from
material misstatement, whether due to fraud or error, and to issue an auditorfs report that includes our opinion.
Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with
ISAS (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are
considered material if. individually or in the aggregate. they could reasonably be expected to influence the economic
decisions of users taken on the basis of these financial stalemenls.
Irregularities, including fraud. are instances of non-compliance with laws and regulations. We design procedures in line
with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The
extent to which our procedures are capable of detecting irregularities, including fraud is detailed below..
28

Young Sounds UK (The working name for Awards for Young Musicians)
Independent Auditors, Report to the Members and Trustees
For the Year Ended 31 December 2023
The extent to which the audit was considered capable of detecting irregularities including fraud
Our approach to identifying and assessing the risks of material misstatement in respect of i￿egUlar1ties, including fraud
and non-compliance with laws and regulations, was as follows:
the engagement partner ensured that the engagement team collectively had the appropriate competen￿,
capabilities and skills to identify or recognise non-compliance with applicable laws and regulations.
we identwfied the laws and regulations applicable to the cornpany through discussions with management, and
from our commercial knowledge and experience of the charity sector.,
we focused on specific laws and regulations which we considered may have a direct material effect on the
financial statements or the operations of the company. including the Companies Act 2006, Charity Acl 2011,
employment, data protection and health and safety legislation-
we assessed the extent of compliance with the laws and regulations identified above through making enquiries of
management and inspecting legal correspondence. and
identified laws and regulations were communicated within the audtt team regularly and the team remained alert to
instances of non-compliance throughout the audit.
We assessed the susceptibility of the company's financial statements to material misstatement. including obtaining an
understanding of how fraud might occur, by..
making enquiries of management as to where they considered there was susceptibility to fraud, their knowledge
of actual, suspected and alleged fraud- and
considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations.
To address the risk of fraud through management bias and override of controls. we:
perfonned analytical procedures to identify any unusual or unexpected relalionships"
tested joumal entries to identify unusual transactions.,
assessed whether judgements and assumptions made in detemiining the accounting estimates were indicative of
potential bias,. and
investigated the rationale behind significant or unusual transactions.
In response to the risk of irregularities and non-compliance with laws and regulations. we designed procedures which
included, but were not limited to:
agreeing financial statement disclosures to underlying supporting documentation,.
reading the minutes of meetings of those charged with govemance.
enquiring of management as to actual and potential litigation, claims and breaches of relevant legislation., and
reviewing co￿espOndence with the Charity Commission and other relevant regulators including the company's
legal advisors and insurers.
There are inherent limitations in our audit procedures described above. The more removed that laws and regulalions are
from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing standards also
limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the directors and
other management and the inspection of regulatory and legal correspondence, if any.
Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may
involve deliberate concealment or collusion.
29

Young Sounds UK (The working name for Awards for Young Musicians)
Independent Auditors, Report to the Members and Trustees
For the Year Ended 31 December 2023
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting
Council's website at www.frc.org.uklauditorsresponsibilities. This description fomis part of our auditorfs report.
Use of our report
This report is tnade solely to the charitable company's members. as a body. in accordance with Chapter 3 of Part 16 of
the Companies Act 2006. Our audit work has been undertaken so that we might state to the charilable company's
members and trustees those matlers we are required to state to them in an auditor's report and for no olher purpose. To
the fullest extent permitted by law, we do not accept or assume responsibility lo anyone other than the charitable
company and the charitable company's members as a body and the charitable company's trustees as a body, for our
audit work, for this report, or for the opinions we have fomied.
fVJ-
Michelle Ferris Bsc jHons) FCA DChA (Senior Statutory Auditor)
for and on behalf of
Albert Goodman LLP
Chartered Accountsnts
Statutory Auditor
Goodwood House
Blackbrook Park Avenue
Taunton
Somerset
TA12PX
Date.. 27.09.2024
30

Young Sounds UK (The working name for Awards for Young Musicians)
Statement of Financial Activities (including Income & Expenditure account)
For the Year Ended 31 December 2023
Unres-
tricted
2023 Endow-
{as
Total
ment restated)
stricted
{as
restated)
Endow-
ment
Unres-
tricted
2022
Totsl
Notes
stricted
Income
Donations and legacies
Charitable activities
Investmenls
184,348
259,309
839,556
115,400
1,023,904
374.709
5,215
402,638
5,679
659,160
276,196
1,061,798
281,875
10,228
5,215
10,228
Total income
5,215
443,657
954,956
1,403,828
10,228 408,317
935,356
1,353,901
Expenditure
Raising funds
Charitable activities
100,105
540,227
320
870,395
100,425
1,410,622
90,289
366,142
90,289
1,316,135
949,993
Total expenditure
640,332
870,715
1,511,047
456,431
949,993
1,406,424
Net income l (expenditure)
before other recognised
gains l (loss)
5,215
(196,675)
84,241
{107,219>
10,228
(48,114) (14,6371
152,523}
Other recognised gains
Net gainl Ilossl on
investments
18,750
6,217
24,967
(29,914) (1,755)
131,669}
Net income l (expenditure)
for the year before transfers
23,965
(190,458)
84,241
(82,252> 119,686) (49,869) (14,6371
184,192}
Transfers
11
(15,000}
15,000
(61,186)
61,186
Net movement in funds
8,965
(175.458)
84.241
(82,252) {19,686) {111,055)
46,549
184,1921
Reconciliation of funds
Total funds brought forward
345,364
230,667
161,095
737,126 365,050
341,722
114,546
821,318
Total funds carried forward
354,329
55,209
245,336
654,874 345,364
230,667
161,095
737,126
The results for the year derive from continuing activities and there are no gains or losses other than those shown above.
The statement of financial activities incorporates the income and expenditure account.
31

Young Sounds UK (The working name for Awards for Young Musicians)
Company Registration Number: 03602851
Balance sheet
As at 31 De￿mber 2023
Notes
2023
2022
Fixed assets
Tangible fixed assets
Investments
35,857
418,273
50,824
393,306
454,130
444,130
Current assets
Debtors
Cash at bank and in hand
86.608
327,943
144,933
312,281
414.551
457,214
Creditors
Amounts falling due within one year
10
{213,808}
{164,218}
Net current assets
200,744
292,996
Net assets
654,874
737,126
Funds
Restricted funds
11
245,336
161,095
Unrestricted funds
Endowmenl funds
Unrestricted funds
11
354,329
55,209
345,364
230,667
409,538
576,031
Total charity funds
654,874
737,126
Approved by the Board for issue on 10 September 2024 and signed on its behalf by:
P Jones (Chair)
Trustee
F Harvey
Trustee
32

Young Sounds UK (The working name for Awards for Young Musicians)
Statement of Cash Flows
As at 31 December 2023
2023
2022
Notes
Cash flows from operating activities
Net expenditure for the year
Adjustments to cash flows from non-cash items:
Dividends and interest from investments
IGain}Iloss on investments
Depreciation and amortisation
(82,252)
(84,192)
(5,215)
(24,967)
941
(10,228)
31,669
1,587
(111.493)
(61,164)
Working capital adjustments
Decrease l (increase) in debtors
Increase l (decrease) in creditors
58,325
49,590
(82,878)
(19,452)
10
Net cash flow from operations
Cash flows from investing activities
Purchase of tangible fixed assets
Purchase of investments
Disposal of tangible fixed assets
Disposal of investments
Dividends and interest from investments
(3.579)
(163.494)
(974)
(286,613)
15,000
55,829
10,228
5,215
19,241
(220,556)
Net increase in cash and
cash equivalents
15,662
(384,050)
Cash and cash equivalents at the
beginning of the reporting period
Cash and cash equivalents at the
end of the reporting period
312,281
696,331
327,943
312,281
33

Young Sounds UK (The working name for Awards for Young Musicians)
Notes to the Financial Statements
For the Year Ended 31 December 2023
Accounting policies
General infomiation and basis of accounting
The financial statements have been prepared in accordance with Accounting and Reporting by Charities..
Statement of Recommended Practice applicable to charities in preparing their accounts in accordance with the
Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)
(Charities SORP {FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS
102) and the Companies Act 2006.
Awards for Young Musicians meets the definition of a public benefit entity under FRS 102. Assets and liabilities
are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting
policy note.
Going concern
The accounts have been prepared on the assumption that the charity is able to continue as a going concern,
which the trustees consider appropriate having regard to the current level of unrestricted reserves and
expendable endowment. There are no material uncertainties about the charity's ability to continue as a going
concern.
The trustees aCknO￿edge that the current position of Ihe carried unrestricted reserves is unsustainable and are
taking steps to address it, including exercising Ihe charity's power to apply the expendable endowment for general
purposes.
Income
Income is recognised when the charity has entitlement to the funds. any performance conditions attached to the
item of income have been met, it is probable that the income will be received and the amount can be measured
reliably.
Income from the government and other grants, whether'capital. grants or'revenue, grants, is recognised when the
charity has entitlement to the funds, any performan￿ conditions attached to the grants have been met, it is
probable that the income will be received and the amount can be measured reliably and is nol deferred.
For legacies, entitlement is taken as the eadier of the date on which either= the charity is aware that probate has
been granted. the estate has been finalised and notification has been made by the executor to the Trust that a
distribution will be made, or when a distribution is re￿iVed from the estate. Receipt of a legacy, in whole or in part,
is only considered probable when the amount can be measured reliably and the charity has been notified of the
executorfs intention to make a distribution. Where legacies have been notified lo the charity, or the charity is
aware of the granting of probate, and the criteria for income recognition have not been met, then the legacy is
treated as a contingent asset and disclosed if material.
Donated services and facilities
Donated professional services and donated facilities are recognised as income when the charity has control over
the item, any conditions associated with the donated item have been met, the receipt of economic benefit from the
use by the charity of the item. is probable and the economic benefit can be measured reliably. In accordance with
the Charities SORP (FRS 102). general volunteer time is not recognised.
On receipt, donated professional services and donated facilities are recognised on the basis of the value of the gift
to the charity which is the amount the charity would have been willing to pay to obtain services or facilities of
equivalent economic benefit on the open market- a corresponding amount is Ihen recognised in expenditure in
the period of receipt.
Donated services and facilities are shown in note 2 as Gifls in Kind. They include in-kind support in the form of
tuition, venue hire, instrument hire and other services that are necessary to fulfil the requirements of the charity's
programmes. The value is based on commercial rates provided by the suppliers.

Young Sounds UK (The working name for Awards for Young Musicians)
Notes to the Financial Statements
For the Year Ended 31 December 2023
Interest receivable
Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the
charity.. this is normally upon notification of the interest paid or payable by the bank.
Funds accounting
Unrestricted funds are available to spend on activities that further any of the purposes of the charity- Designated
funds are unrestricted funds of the charity which the trustees have decided at their discretion to set aside to 'use
for a specific purpose. Restricted funds are donations which the donor has specified are to be solely used for
particular areas of the charity's work or for
specific projects being undertaken by the charity.
Endowment funds relate to a collection of violins bequeathed to the charity. These are to be sold to raise funds at
the discretion of the trustees. Proceeds from the sale of any instruments have been invested. Subsequent
increases and decreases in value of these investments are shown in the Statement of Financial Activities as part
of those funds.
Expenditure and irrecoverable VAT
Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is
probable that settlement will be required and the amount of the obligation can be measured reliably.
I￿eCOVerable VAT is charged as a cost against the activity for which the expenditure was incurred.
Grants payable
Grants payable are charged in the year in which the offer is conveyed to the recipient except in those cases where
the offer is conditional.
Fixed assets
Fixed assets are valued at cost less depreciation. No assets are capitalised under £1,000.
Depreciation is calculated to write off the cost or valuation of fixed assets over their estimated useful lives at the
following rate'.-
Computer equipment
33% straight line
Musical instruments contain a collection of musical instruments bequeathed to the charity in 1998 are held at
probate value and not depreciated. Musical instruments are reviewed annually for impainnent.
1.10 Allocation of support and governance costs
Support costs are those functions that assist the work of the charity but do not directly undertake charitable
activities. Governance costs are the costs associated with the governance arrangements of the charity, including
the costs of complying with constitutional and statutory requirements and any costs associated with the strategic
management of the charity's activities. These costs have been allocated between cost of raising funds and
expenditure on charitable activities based on staff cost per￿ntageS as follows:
2023
2022
25%
75%
General fundraising
Charitable activities
75%
35

Young Sounds UK (The working name for Awards for Young Musicians)
Notes to the Financial Statements
For the Year Ended 31 December 2023
1.11 Investments
Investments in quoted shares, traded bonds and similar investments are measured initially at cost and
subsequently at fair value (their market value)- The statement of financial activities includes the net gains and
losses arising on revaluations and disposals throughout the year.
1.12 Debtors
Trade and other debtors are recognised at the settlement amount due after any trade discount offered.
Prepayments are valued at the amount prepaid net of any trade discounts due.
1.13 Cash at bank and in hand
Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of
three months or less from the date of acquisition or opening of the deposit or similar account.
1.14 Creditors
Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that
will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be
measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after
allowing for any trade discounts due.
1.15 Financial instruments
The charity only has financial assets and financial liabilities of a kind that qualify as basic financial inslrurnenls.
Basic financial instruments are initially recognised at transaction value and subsequently measured at their
settlemenl value with the ex￿ption of bank loans which are subsequently recognised at amortised cost using the
effective interest method.
1.16 Pension costs
The company operates a defined contribution pension scheme for its employees. There are no further liabilities
other than that already recognised in the SOFA.
1.17 Accounting estimates and key judgements
In the application of the charity's accounting policies, the trustees are required to make judgements, estimates and
assumptions about the carrying values of assets and liabilities that are not readily apparent from other sources.
The estimates and underlying assumptions are based on historical experience and other factors that are
considered to be relevant. Actual results may differ from these estimales.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates
are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period
of the revision and future periods if the revision affects both current and future periods. The key sources of
estimation uncertainty that have a significant effect on the amounts recognised in the financial statements are
described below.
1.18 Gifts in kind
The charity receives in kind support in the form of tuition. venue hire. instrument hire and other associated
services. If these services and facilities were not donated, the charity would need to procure them in order to fulfil
its programmes. The value of the donated services and facilities has been estimated based on the equivalenl
commercial sales price provided by the supplier.
1.19 Prior period errors
During the year it was identified that gifts in kind had been previously treated as unrestricted income and
expenditure, when they should have been restricted. Restricted fund income and expenditure for the year ended
31 December 2022 have therefore both increased by £470,702, with a corresponding reduction in unrestricted
fund income and expenditure. There has been no impact on the surplus reported by the charity in the prior year.
36

Young Sounds UK (The working name for Awards for Young Musicians)
Notes to the Financial Statements
For the Year Ended 31 December 2023
2 Income from donations and legacies
Unres-
Res-
tricted
tricted
(as
(as
restated) restated)
Unres-
tricted
Res-
tricted
Totsl
2023
Total
2022
Grants > £5,000:
The Karlsson Jativa Charitable
Foundation
The Thistle Trust
Reed Foundation
The Finderman Charitable Trust
Andrew Lloyd Webber Foundation
Colwinston Charitable Trust
Martin Charitable Trust
The D'oyly Carte Charitable Trust
The Childhood Trust
Middle Way Trust
Garfield Weston Foundation
The Childhood Trust
The Backstage Trust
Scops Arts Trust
The Adrian Swire Charitable Trust
The Alan Brentnall Charitable Trust
Q Charitable Trust
Kirby Laing Foundation
Martin Charitable Trust
Anonymous
Hugh Fraser Foundation
The Harold Hyam Wingate Foundation
The 29th May 1961 Charity
The Margaret and David Walker Trust
Cecil King Memorial Foundation
Mayfield Valley Arts Trust
50.000
50.000
15,000
15,000
15,000
10,000
10,000
5,000
8.000
6,000
6,536
5,000
15.000
10.000
10,000
5.000
8.000
6,000
6,536
s,000
30,000
15,000
30,000
26,037
25,000
20,000
15,000
15,000
10,000
10,000
6,000
5,000
5,000
5,000
5,000
5,000
5,000
11.037
25.000
20,000
15,000
15,000
20.000
20,000
10,000
10,000
6,000
5,000
5,000
5,000
5.000
5.000
5.000
5,000
5,000
5,000
5,000
5,000
5,000
5,000
5,000
5,000
5.000
Grants < £5,000
19.530
25.504
45,034
15,625
19.310
34,935
Donations
Donation income
Gift aid
Gifts in kind
Legacy income
Other income
71,971
47,423
233.361
2,500
437,655
5,000
305,332
49,923
437,655
10,000
424
206,199
51,182
57.111
263,310
51,182
470,702
52,871
1,761
470,702
10.000
5.000
424
42,871
1,761
184,348
839.556
1,023,904
402,638 659,160 1,061,798
37

Young Sounds UK (The working name for Awards for Young Musicians)
Notes to the Financial Statements
For the Year Ended 31 December 2023
3 Charitable activities
Unres-
tricted
Res-
tricted Total 2023
Unres-
tricted
Res-
tricted Totsl 2022
Grants > £5,000:
Arts Council England"
National Foundation for Youth Music
Bradford.
Greater Manchester.
Hull.
Lewisham.
Liverpool.
Manchester City.
North West Midlands.
Sheffield.
Sunderland"
Worcester.
Bournemouth CounGII'
Grants < £5,000
261,359
13,000)
38.643
18.097
5,000
5,000
5,000
5.000
5.000
5.000
5,000
5,000
5,000
5.000
300,002
15,097
5,000
5,000
5,000
5,000
5,000
5,000
5,000
5.000
5,000
5,000
28,822
234.520
28,822
234,520
5,000
5,000
5,000
2,854
5,000
8,533
950
8.660
9.610
5,679
259,309
115,400
374,709
5,679 276,196
281,875
"denotes amounts re￿iVed from govemment
Income from government grants comprise grants made by local authorities to fund the principal activities and objectives
of the charity via core funding and funding for specific restricted projects. No performance related grants recognised in
income have had any unfulfilled conditions or any other contingencies attaching to them. See note 2 and 3 for more
information. Govemment grants received during the year amounted to £350,002 (2022: £38,822).
38

Young Sounds UK (The working name for Awards for Young Musicians)
Notes to the Financial Statements
For the Year Ended 31 December 2023
4 Direct charitable expenditure
Unres-
Res-
tricted
tricted
(as
(as
reststed) restated) Totsl 2022
Unres-
tricted
Res-
tricted Totsl 2023
Raising funds
Staff costs
Event costs
other freelance costs
location of support and governance
costs
79.759
79,759
320
2.000
69,942
1,200
5,000
69,942
1,200
5.000
320
2.000
18,346
18,346
14,147
14,147
100.105
320
100,425
90,289
90,289
Charitable activities
Staff costs
Event costs
Other freelance costs
Programme delivery
Grants payable
Travel and subsistence
Marketing
location of support and governance
costs
235,637
33.629
41.761
67.899
45,972
38.914
21.377
3.640
239,277
33,629
41,961
859,170
117,724
41,422
21,377
152,593
56,237
10,301
1,788 842,284
64,382
37,763
20,318
9,347
21,254
257
55,399
2,140
207,992
58,377
10,301
844,072
102,145
29,665
21.511
200
791.271
71,752
2,508
55.038
1,024
56.062
39,269
2,803
42,072
540.227
870.395
1.410,622
366,142 949,993 1,316,135
Support and governance costs
Office and IT
Subscriptions, li￿nCeS and Charges
Other freelance costs
Audit and accountancy
Bank charges
Depreciation
Miscellaneous costs
Allocation of support and governance
costs
18.558
4.816
11
18,569
4,816
13,830
3,480
3,998
19,008
2,077
1,587
9,436
2,323
16,153
3,480
3,998
19,488
2,077
1.587
9.436
31,644
1.874
941
15.551
1.013
32,657
1,874
941
15,551
480
(73,384)
(1.024)
(74,408)
(53,416) (2,803) (56,219)
Tolal
640,332
870,715
1,511.047
456,431 949,993 1,406,424
Grants payable of £117,724 (2022- £102,145) consisls of grants up to £2,000 awarded to individuals only. The grants
assist with a range of musical costs e.g. the purchase of instruments. to fund musical tuition. travel etc. and do not
include any contributions to support costs.
39

Young Sounds UK (The working name for Awards for Young Musicians)
Notes to the Financial Statements
For the Year Ended 31 December 2023
5 Wages and salaries
2023
2022
Wages and salaries
Social security costs
Pension
286.696
25,436
6,904
252,257
20,218
5,459
319,036
277.934
One employee earned between £80,000 and £90.000 during the year (2022." one employee eamed between £70,000 and
£80,000).
The key management personnel of the charity is considered to be the chief executive. The total costs to the charity of
employee benefits for the key management personnel were £88.830 (2022: £81,324).
The average number of employees for the year was as follows:
2023
2022
Number of staff
6 Net incoming resources before transfers
2023
2022
This is stated after charging..
Statutory audit- current accA)untants
Stalutory audit- previous accountants
- Accounts preparation - Cu￿ent accountants
- Other work - previous accountants
9.750
5,400
2,250
1,013
40

Young Sounds UK (The working name for Awards for Young Musicians)
Notes to the Financial Statements
For the Year Ended 31 December 2023
7 Tangible assets
Musical
instruments
Computer
equipment
Total
Cost
As at 01.01.2023
Additions
Disposals
50,000
4,474
974
54,474
974
(15,000)
{15,000}
As at 31.12.2023
35,000
5.448
40,448
Depreciation
As at 01.01.2023
Charge for year
3,650
941
3,650
941
As at 31.12.2023
4,591
4,591
Net book value
As at 31.12.2023
35,000
857
35,857
As at 31.12.2022
50,000
824
50,824
8 Investments
2023
2022
Market value at 1 January 2023
Additions
Disposals
Unrealised gains l (losses)
Realised losses
393,306
194,191
286,613
{55,829)
(25,617)
(6,052)
24.967
Market value at 31 December 2023
418.273
393,306
Historical cosl at 31 December 2023
367,588
367,588
41

Young Sounds UK (The working name for Awards for Young Musicians)
Notes to the Financial Statements
For the Year Ended 31 December 2023
9 Debtors
2023
2022
Trade debtors
Accrued income
Other debtors
1,250
84,247
1,111
6,265
137,952
716
86,608
144,933
10 Creditors - amounts due in less than one year
2023
2022
Trade creditors
Accruals
Social security and other taxes
Grants payable
Other creditors
38,562
92,453
8,876
73,379
538
16,355
94,474
7,266
45,003
1,120
213,808
164,218
11 Statement of Funds
Gains I
(losses) on
investmenls
Balance
01.01.2023
Expend-
ilure
Balance
31.12.2023
Income
Transfers
Endowment funds
Robert Lewin bequest
Robert Lewn instruments
Des Clayes bequest
10,144
50,000
285,220
5.215
18.750
34.109
35,000
285,220
(15,000}
Total endowment funds
345,364
5.215
18,750
{15,000}
354,329
Restricted funds
Furthering Talent
Attune project
Charanga
Named Awards
Identifying Talent
Catalyser Fund
Gifts in kind
123.110
10.000
7,519
151,551
3.254
221.867
437.655
(123.110)
19,063)
13,048
{7,519}
50,275
15,291
90,000
13,985
(71.751)
(18,545)
{210.591)
{437,655)
130,075
101,276
Total restricted funds
161,095
954,956
{870,715)
245,336
Unrestricted funds
General
230,667
443,657
{640,332)
6,217
15,000
55,209
Total unrestricted funds
230,667
443,657
{640.332)
6,217
15,000
55,209
Total funds
737,126
1,403,828
(1,511,047)
24,967
654,874
42

Young Sounds UK (The working name for Awards for Young Musicians)
Notes to the Financial Statements
For the Year Ended 31 December 2023
Statement of Funds - prior year
Expend-
ilure
(as
reslated)
Income
{as
reS￿￿ed)
Gains I
(losses) on
investments
Balance
01.01.2022
Balance
31.12.2022
Transfers
Endowment funds
Robert Lewin bequest
Robert Lewin instruments
Des Clayes bequesl
29,830
50.000
285,220
10,228
(29,9141
10,144
50,000
285,220
Total endowment funds
365,050
10.228
{29.9141
345,364
Reslricted funds
Furlhering Talent
Talent to Talent
Attune project
Charanga
Named Awards
Identifying Talent
Catalyser Fund
Gifts in kind
17,570
1982)
16,287
25,361
28,544
27.766
279,981
10,056
{358.737)
(9,074)
(3,239)
(36,175)
(37.9141
(34,152)
61,186
13,048
(7,519)
50,275
15,291
90,000
3,295
59,645
21.677
90,000
470,702
{470.702)
Total restricted funds
114.546
935.356
{949.993)
61,186
161,095
Unrestricted funds
General
Designated Furthering Talent
171,722
170.000
408,317
{456.431)
{1,7551
108,814
(170,0001
230,667
Total unrestricted funds
341,722
408,317
{456,431)
(1,755)
(61,1861
230,667
Total funds
821,318
1,353,901
(1,406,424)
{31.6691
737,126
Purposes of restricted funds
Furthering Talent
This programme finds young people with emerging talent, giving them targeted and sustainable support.
Talent to Talent
Young musician led peer-to-peer mentoring programme.
Attune project {previously called the Chamber Music project)
Partnership with City of London Sinfonia. City of Bimiingham Symphony Orchestra, the Royal Academy of Music
and the Royal Birmingham Conservatoire. to give AYM Award winners the chance to develop their chamber music
skills.
Charanga
Young Sounds is working with Charanga. the UK'S award-winning music education platform to help young people
sustain their musical learning through the development of an interactive Individual Learning Plan.
43

Young Sounds UK (The working name for Awards for Young Musicians)
Notes to the Financial Statements
For the Year Ended 31 December 2023
Named Awards
We also offer a number of special named Awards each. year which are funded by private individuals or in
partnership with other trusts and organisations.
Identifying Talent
This programme trains music leaders to spot early musical potential in children who might never have had the
chance to play an instrument because their family can't afford it.
Catalyser Fund
This fund is the latest in a series of long-temi grants Young Sounds UK have received from Youth Music to
support the continued scaling up of our Furthering Talent programme. It aims to support young people facing the
most barriers to music-making.
Gifts in Kind
Gifts in Kind are resources that are gifted to the charity in relation to instrumental hire and music lessons.
12 Analysis of net assets between funds
Endow-
ment
Unres-
tricted
Res-
tricted Total 2023
Endow-
ment
Unres-
tricted Res-tricted
Total
2022
Tangible assets
Investments
Net current assets
35.000
319,329
857
98.944
{44,592}
35,857
418.273
200.744
50,000
295,364
824
97,942
131,901
50,824
393.306
292.996
245,336
161,095
354,329
55.209
245.336
654.874
345.364
230,667
161,095
737.126
13 Flnanclal Instruments at falr value
2023
2022
Financial assels measured al fair value
418.273
393.306
Income Expense
Net gains
Net losses
2023
Financial assets measured al
fair value
5,215
24,967
5,215
24,967
2022
Financial assets measured at
fair value
10,228
(31.669)
10,228
(31,669)
Financial assets measured at fair value comprise listed investments.

Young Sounds UK (The working name for Awards for Young Musicians)
Notes to the Financial Statements
For the Year Ended 31 December 2023
14 Related party transactions
During the year, three trustees donated a total of £5.820 to the charity (2022.. £9,072 from 8 trustees). Three trustees
were reimbursed travel expenses totalling £2,222 (2022: £79 to 4 trustees)
15 Company limited by guarantee
The company was incorporated as a company limited by guarantee and has no share capital. The guarantee to the
company is £1 per member on the winding up of the company. At 31 December 2023 the company had eleven
members and the total amount guaranteed was Iherefore £11.
45