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Company no. 03750674 Charity no. 1075032

The National Foundation for Youth Music Report and Financial Statements 31 March 2021

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THE NATIONAL FOUNDATION FOR YOUTH MUSIC ANNUAL REPORT AND ACCOUNTS 2020/21

	Page
PART ONE
Reference and administrative details	2
Chair and CEO Introduction	3
Objectives and Activities	3-4
Achievements and Performance	5-12
Future Plans	12
PART TWO – Governance and Accounts
Report of the Trustees	13-18
Statement of Trustees’ responsibilities	19
Independent auditor’s report	20-22
Statement of financial activities	23
Balance sheet	24
Statement of cash flows	25
Notes to the accounts	26-51

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Report of the Trustees for the Year Ended 31 March 2021

PART ONE

Reference and administrative details

The Trustees, who are also Directors for the purposes of Company law, who served during the year and up to the date of signing were:

YolanDa Brown – Chair Chris Price Richard Peel – resigned 17/5/21 Rachel Nelken Rafi Gokay – resigned 17/5/21 Tim Berg Rachel Lindley Sam Ross Robert Aitken Sophia Hall Nathifa Jordon – appointed 17/5/21 Sam Denniston – appointed 17/5/21 Miri Buac – appointed 17/5/21

All Trustees/Directors are non-executive and are not remunerated for services rendered to Youth Music.

Registered office

Studios 3-5, Hatcher’s Yard, 9 Tanner Street, London, SE1 3LE

Charity registration number

1075032

Company registration number

03750674

Professional advisors

External Auditor

Haysmacintyre LLP, 10 Queen Street Place, London, EC4R 1AG

Chartered Accountants

JS2, One Crown Square, Church Street East, Woking, GU21 6HR

Bankers

Lloyds TSB, 344 Gray’s Inn Road, London Coutts, 440 Strand, London WC2R 0QS

Legal and administrative details

The registered name of the charity is The National Foundation for Youth Music. The charity was incorporated as a company limited by guarantee on 8 April 1999. The charity is governed by the provisions of its Memorandum and Articles of Association.

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THE NATIONAL FOUNDATION FOR YOUTH MUSIC ANNUAL REPORT AND ACCOUNTS 2020/21

Report of the Trustees for the Year Ended 31 March 2021

Chair and CEO Intro

In Youth Music’s twenty two year history, we have never seen young people impacted by so many transformative world events at one time. Music has always been central to young people’s lives and last year was no exception. In fact, it was needed more than ever, with COVID-19 affecting them in ways that risk long-term consequences to their mental health[1] . “This has been like a therapy session for me” was feedback shared by one participant and echoed by many others.

The grassroots organisations we invest in nationwide are best equipped to respond effectively in times like these. However, those very organisations had the toughest year financially, with almost half of our Emergency Fund applicants reporting difficulties in securing vital core operating costs and having reserves of 5% or less of their turnover.

We continually adapted to meet the changing needs of these organisations. Through this, we brought music making, learning and earning to those who needed it most during the pandemic. We thank our own funders for enabling this, in particular the National Lottery via Arts Council England and the People’s Postcode Lottery.

Importantly, we have doubled down on our efforts to increase Equity, Diversity and Inclusion both at Youth Music and beyond. In fact, results from our most recent Equal Opportunities Survey show that the ethnicity of our staff and Board is more diverse than the previous year. We’ve also improved Disabled representation as a result of our targeted recruitment. We’ve still for more work to do, though. Our Equality, Diversity and Inclusion action plan sets out our ambition and ensures we keep up the momentum.

The last year has been one of growth and development for Youth Music. Our staff and Trustees deserve a special mention for their work. We increased our investments to get more money to the front line, whilst ensuring our service levels were maintained. Our stakeholders recognised this – 91% of people who applied for our funding rated our organisation ‘above average’ overall in our annual survey. Of those, 68% described it as ‘excellent’. To maintain the quality of our work, and the wellbeing of our staff, we now need to embed and consolidate all the amazing new work we’ve begun.

Objectives and Activities

Why we exist

We believe that every young person should have a chance to change their life through music. Yet research shows that many can’t because of who they are, where they’re from or what they’re going through.

Through our insights, influence, and investment in grassroots organisations, we make sure more young people aged 0-25 can make, learn and earn in music nationwide.

Youth Music is a national charity funded thanks to the National Lottery via Arts Council England, players of People's Postcode Lottery and support from partners, fundraisers and donors.

1 *https://youngminds.org.uk/resources/policy-reports/how-is-the-covid-19-pandemic-impacting-young-peoples-mental-health/

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Report of the Trustees for the Year Ended 31 March 2021

Who we help

0-25 year olds facing barriers in life because of who they are, where they’re from or what they’re going through
Our priority areas: Early Years, Disability, Youth Justice, Rural areas/regions outside of London, Social Justice issues in the music industries (e.g. race, gender, sexuality, income), 18-25s

Data and evidence in this review

At Youth Music we’re led by evidence and act on the views of our stakeholders. In this review we draw on data from lots of sources: including our own research, funding application/reporting data, and feedback from our annual stakeholder survey (which is sent to anyone who has applied to us for funding). We also use other published data and evidence when required.

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Report of the Trustees for the Year Ended 31 March 2021

Achievements and Performance

1. Our Impact: INSIGHTS

Using our insight, investment and influence, we have catalysed change in diversity practices. With new policies, frameworks and attitudes in place, we maximised this rare opportunity to change outdated systems.

Research to identify issues:

We produced three reports to better understand the needs of the people we work with, advocate for change, and guide our strategy.

The Reshape Music Report was the first-ever national survey into Disabled people’s experiences in music.

Developed with eight co-researchers, all Disabled musicians, the report set out the significant barriers faced by Disabled musicians to access music education and music-making. It highlighted the urgent need for educators, retailers, and the music industry to improve access and choice for Disabled musicians, to increase representation of Disabled people in the paid workforce, and to upskill music teachers to better support Disabled musicians.

A Blueprint for the Future featured the voices of 1,300 young people keen to begin careers in the music industry. It showcased how, despite the overwhelming tenacity, determination, and entrepreneurial spirit in young people, current routes for them to move from education to employment are not fit for purpose.
Our COVID-19 Report focussed on how the pandemic has affected those who support young people who face barriers to music. We surveyed our stakeholders and combined the results with data gathered through our funding application processes. The results showed the financial challenges faced by organisations and the workforce. Mental health and wellbeing were recurring themes, for both young people and the workforce supporting them. These findings drove us to secure £1.75million of additional funds from players of the People’s Postcode Lottery to deliver a recovery and resilience fund due to launch in 2021/22.

Data to inform the places, people and projects we invest in

Our equitable funding practice means we can target our investment where it will have most impact, ensuring that fewer people miss out on their potential to make, learn and earn through music.

We distribute funding equitably across the country based on need. In our Funds A, B and C investment, London received 14% of the total investment and no region received less than 7%.
A massive 52% of funding was invested in the 20% most deprived Local Authority areas (this data is for projects that took place in specific local authority areas rather than regional or national work).
Diversity and representation is at the heart of what we do. Last year, we significantly increased investment in diverse-led organisations. Fifty six per cent of funded organisations were diverse-

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Report of the Trustees for the Year Ended 31 March 2021

led, up from 46% the previous year. It’s important that our funds are accessible to emerging organisations. The proportion of investment in first time fundholders increased to 69% last year.

2. Our Impact: INVESTMENT

Grassroots music organisations can help us rebuild a better future for young people. Our research highlights how these nimble organisations know how to reach young people when they need it most.

This year, we:

Increased the scale of our grant-making and secured over £3.5 million additional investment for young people’s music…
Investing £11,095,031 of funding
Making 249 grant awards (a 30% increase on the previous year)
o For every £1 of Youth Music investment, projects secured an additional 86p of matched funding
Reached 57,738 children and young people
Just under half of the people on our programmes engaged in sustained music making
28% progressed to education, employment or training, one-third to other music or cultural activities
2,501 achieved accreditation
Number of sessions: 41,000
48% of these were 1:1 Sessions (up 29% from last year)
Demographic Breakdown:

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Case Study: Early Years. Telford & Wrekin Music’s Soundpots Project

Just over a quarter of all the young people we work with are babies and toddlers in their early years (aged 0 – 5). In Ofsted’s early years study[2] of 0-5 year olds, all providers said that children’s personal, social and emotional development had been significantly impacted during COVID-19.

Music can play a key role in supporting young children’s development. Many projects working with Early Years children report an improvement in verbal communication skills, such as Telford & Wrekin Music, who run the Soundpots project.

“When Nathan was two, his mum Julie noticed that his speech wasn’t developing as it should, particularly in comparison to his older siblings. When Soundpots came to his nursery, Nathan was able to access a repertoire that was easy to learn, fun to do and geared towards his needs. Nathan’s speech and language are now rapidly developing. His mum attributes much of this to Soundpots: ‘It’s definitely helped. He has just suddenly gone from clear words to short sentences. He has really enjoyed Soundpots.”

Case Study: Disabled Young People, Soundabout’s Inclusive Choir

One-fifth of our National Lottery investment supports Disabled young people in music. Many of our projects went virtual last year, including Soundabout’s Inclusive Choir. They reported that their sessions were a great success, engaging children and young people with learning disabilities in making music while they couldn’t access other support and respite care. According to one mum: “Your live sessions have been such a gift to me and Amy (name changed). They’ve been an utter joy to be part of. Amy has no vision so has no idea you’re behind an iPad screen and when she hears her name, she reacts in the same way she would if you were with her in person. We’ve laughed, danced, made all sorts of weird and wonderful noises and you’ve brought fun, love and laughter to our living room almost every day over the last few weeks as we’ve listened to your stories over and over.”

NextGen 18-25s: From Learning to Earning

Employment opportunities for 18-25s were massively affected last year. Our Unlocked research explored how those at the start of their music industry careers had been affected by the pandemic. Our research found that young creatives from less advantaged socio-economic backgrounds were more likely to experience a negative impact on their creative career goals a result of the pandemic. (ABC1 19% - C2DE 24%).

NextGen is our community for young creatives who aspire to build and work in the music industries of the future. It offers access to talent development and job opportunities, industry expertise and funding to young people from England, Scotland and Wales. We created 61 paid opportunities for young people through Youth Music NextGen last year, from grant advisors and writers to event runners and photographers.

https://assets.publishing.service.gov.uk/government/uploads/system/uploads/attachment_data/file/933836/COVID 19_series_briefing_on_early_years_October_2020.pdf

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Charlotte, 21, was engaged as a freelance advisor. She told us “I’m not able to access opportunities in London because I can’t afford to get the train, pay for accommodation, and things like that. Being able to have a paid role in music and do it from where I’m from is such a big thing because there aren’t paid opportunities anywhere around where I live”

Case Study: young adults, Sound Connections’ Wired4Music

Fourteen per cent of our National Lottery investment last year went into work supporting young adults. Sound Connections’ Wired4Music is a youth-led platform that provides opportunities for young creatives at the beginning of their careers, to achieve their ambitions of earning in music.

“Thanks to their financial support, and the emotional support of the entire W4M team I was able to organise and host a Launch Party for my Debut EP. I was able to provide six other artists with paid performance opportunities alongside myself at this sold-out event. My confidence has grown absolutely miles during this process. I can honestly say that I would not be where I am right now, mentally or physically, and would not have some of the incredible people in my life that I have, if it wasn’t for Wired4Music and the opportunities that they have provided, for me to grow, connect with others, and step closer to making my dreams my reality.” – Young Creative

Incubator Fund

2020 saw the launch of our £2m ‘Incubator Fund’ to help 18-25 year-olds – particularly those from under-represented groups – to get into the music business. The fund was set up in direct response to the findings in Blueprint for the Future and designed in collaboration with young people and music industry organisations. Thirty-one organisations received almost £800,000 of funding in the first round. 266 18-25s are set to benefit from this investment – 53 will be employed, 134 will be commissioned to undertake freelance work and 116 will receive a grant.

Incubator Fund recipient, Girls I Rate, told us “This funding means Girls I Rate can facilitate a 6 month programme that will support, train and mentor eight 18-25 year olds …. this brings incredible value, giving young girls a head start in radio”.

Since the first round we’ve partnered up with You Tube, who are providing both investment and industry know-how to the organisations we’re working with.

3. Our Impact: INFLUENCE

To ensure every young people can make, learn and earn in music, we must improve access into music education and the music industries. Over twenty years of operating, we have gained a wealth of experience and nationwide reach. We use our national platform to influence others to change and improve. We do this in a number of ways:

We back grassroots changemakers who are experts in inclusive practice

We’ve played a major part in getting inclusion to the top of the music education agenda. One significant change in practice has been the establishment of inclusion strategies within Music Education Hubs, with 83% of London Hubs reporting that they have or are working towards such a strategy.

Our flagship Fund C programme invests c. £2 million annually to support Music Education Hubs to improve their equality, diversity and inclusion practices. One Fund C reported their impact, telling us how Music Education Hubs “have placed EDI at the forefront…with each partner organisation

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Report of the Trustees for the Year Ended 31 March 2021

and music service completing Youth Music’s EDI self-assessment tool, and collective action taken as a result, including appointing an EDI lead and working group”

Our investment provides training for the workforce

5,193 people benefitted from workforce development opportunities last year. Particular outcomes for staff were increased confidence supporting young musicians facing barriers and increased understanding of the transformative power of music making.

This year also saw a large increase in skills and confidence with online delivery, and many projects provided workforce support for remote working. New practices were developed as a result: “While some sessions had to be postponed, we engaged in training and exploration of ways to deliver online. Elements of this new learning included remote music-making, an online festival, online evaluation interviews and digitising paperwork.”

Working with our expert partners, we recently launched our quality framework for use in online settings, building on our learning from the last year.

We model good practice in our own work

We’ve made good progress in recent years towards the objectives in our equality, diversity and inclusion action plan, including:

Established a cross-organisation EDI Working Group
Diversified the Team and Trustee board (across all protected characteristics but particularly gender and race – new staff survey being undertaken)

Looking after our staff wellbeing during the pandemic was of critical importance. In our most recent staff survey, 100% stated Youth Music is a good organisation to work for, 100% agreed that Youth Music had responded appropriately to the pandemic and 98% reported that they enjoyed their job.

One area we’re particularly proud of is involving young people across all of our work. We share our achievements to inspire others:

“I thought the way young people were involved in your assessment process was exemplary, and something we now want to try and replicate in some of our processes. It's inspired us to focus more on youth voice and giving genuine agency to young people when making decisions about projects that benefit them.”

In our recent stakeholder survey, 49% of respondents said that Youth Music had an ‘above average’ impact on their organisation’s approach to Equality, Diversity and Inclusion.

We help increase understanding of equality, diversity and inclusion practices

We developed the HEARD model, in partnership with Bristol Beacon, which we advocate amongst all projects we fund to promote Equality, Diversity and Inclusion nationwide.

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Report of the Trustees for the Year Ended 31 March 2021

‘ ’ 46% of stakeholders have used our Equality, diversity and inclusion self-assessment tool , which we aim to increase over the coming year. Of those, 98% said they found the tool useful.

Connecting music education and the music industries

Our unique position as a national charity enables us to bridge the gap between music education and the music industries. The Youth Music Awards is our flagship initiative. It celebrates the talent from Youth Music projects and showcases it to our industry sponsors and judges. Whilst last year’s event had to be postponed, we watched the fantastic progress made by our winners from the previous year:

“Since winning the Youth Music award, it has helped me establish myself as a musician in the public eye and I’ve had many more opportunities to play gigs. I am currently in the process of rebranding myself as an artist. This is with the hopes if releasing some of my own music in the near future with the vocals I recorded in London using my prize from the awards at the Spotify Secret Sessions.” - Mae Moneypenny a.k.a. eam, winner of Live Performance Award at the Youth Music Awards 2019.

In 2020, Youth Music and Charanga teamed up to offer free access to VIP Studio Sessions (VIP) for anyone involved in Youth Music projects. VIP is an online music production platform with a range of tools for young people to learn new skills, develop their music production techniques, and create tracks.

To celebrate the partnership, we launched the first of a series of Youth Music x VIP competitions. Young people upload tracks to VIP and get feedback on their music from industryexperts. Award-winning electronic music duo and Youth Music Ambassadors Bicep were the judges on our first competition. The winner got an invite to their studio, to meet them in person and master one of their tracks.

“We were both blown away by the level of talent this year, it really felt like a big step. Kudos to all involved, it's so exciting to hear lots of bright promising UK talent from across a broad range of genres.” Bicep

“Outstanding” COVID-19 Response

We successfully navigated the pandemic with no interruption of service and significant changes to our processes, at pace. For example, our Emergency Fund offered decisions within seven days and made payments 23 days from notification, on average. This was even more important than ever for the organisations, staff and freelancers who benefited:

“Without this funding our organisation would have faced difficult decisions about our future and potential redundancies for our musician staff. Funding from Youth Music allowed us to bring employed musicians back from furlough and resume a traineeship programme that we launched in January 2020.”

Importantly, it meant that young people still had opportunities to access music: “ We are truly grateful for the continued support of Youth Music in supporting high risk young people across our

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Report of the Trustees for the Year Ended 31 March 2021

local community. These young people are so often left out of crucial support when it's needed most.”

Our Emergency Funding reached almost 4,000 young people and supported over 350 freelancers, showing how agile these smaller organisations were at a time when only 14% of music education organisations were working with working with the same numbers of young people as previously[3] .

Case study: Youth Justice, Unique Talent CIC

Twelve percent of our National Lottery funding supported young people at risk of crime or engaged in the youth justice system. Over lockdown, Unique Talent’s project used positive drill to encourage young people to stay away from crime. Online music workshops were developed for their clients to work through. Mentoring sessions helped develop business plans and provided both artistic guidance and industry advice. The project was used in the youth courts to advocate for the suspension of a custodial sentence for one of their clients, a suspension that was successfully won.

What we learned

Working through COVID-19 showed us how we can be more adaptable, trusting and fast in our funding approach.

“Youth Music have been a really flexible funder for some time now, always open to a conversation around changing priorities and needs. And never more so than over the last 15 months - your response to Covid-19, the additional flexibility you've offered and the way you've supported grantholders and the wider sector with resources and discussions has been exemplary.”

Our learning from last year prompted us to sign up to be a Flexible Funder. Designed by funders to ensure we ‘build back better’ post pandemic, we’ve embedded 8 good practice principles across our funding approach. We’ve also added a further 2 principles of our own – being accessible and involving people. We asked our stakeholders how we measured up:

Very poor	Below average	Average	Above average	Excellent

1%	1%	7%	41%	49%

	-
1%		17%	48%	35%


1%	2%	16%	49%	33%


1%	1%	18%	35%	44%


1%	1%	17%	41%	40%


1%	1%	14%	27%	58%

	-
1%		9%	38%	53%


1%	3%	26%	36%	34%

3 https://network.youthmusic.org.uk/how-covid-19-has-affected-youth-music-making-2

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1%	2%	17%	38%	43%


1%	2%	18%	43%	36%

This feedback shows us where we need to focus our efforts. We'll continue to monitor how we’re doing year-on-year to see where we improve.

Future Plans

Organisational Objectives

Our new business plan outlines a new set of organisational objectives following a period of growth and change at Youth Music:

Consolidate initiatives and embed processes
Catalyse change in sector practices
Bridge gap between learning and earning in music
Increase brand value
Increase income via partnerships

We’re already delivering against these new objectives.

2021 will be a milestone for Youth Music. Through our NextGen fund, we’ll be investing in young people directly for the first time. Grants of up to £2,500 will be available for young creatives to make their ideas happen, Autumn 2021. We’ve launched NextGen fund to help emerging musicians and behind the scenes creatives take a step forward in participating and changing the music industries.

Built for creatives with a stack of ideas but a lack of finance, the fund is open to 18-25 year olds (and under 30s who identify as Disabled). Successful applicants will use the money to launch a creative project, idea or business. We’re delighted that TikTok have come on board to invest in the fund, meaning we can back more young creatives to realise their ideas.

The NextGen Fund is the ideal progression for young people who take part in our projects, joining up all Youth Music’s funding programmes and creating a genuine bridge into music earning.

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PART TWO – Governance and Accounts

Structure, governance and management

The Board of Trustees meets four times a year. In addition, there is an Annual Trustee Awayday, which is an opportunity to focus on matters of potential strategic significance to inform future planning.

The primary focus of the Board includes the following: Strategy and Policy, Governance, Finance and Operations.

Trustee appointment, induction and training

Trustees are appointed by the Board, and new Trustees receive an induction in order to brief them on their legal obligations and to meet key employees and other Trustees.

Trustees are encouraged to visit Youth Music projects to gain a better understanding of the work of the Charity, and also to attend relevant training events in order to maintain and develop their knowledge and skills.

Detailed administration information

With a view to focusing on effective governance and to optimise the specialised skills and areas of expertise of individual Trustees, the Board has delegated specific responsibilities to individual Trustees based on skills and experience. Day-to-day operational management of the charity has been delegated to the Chief Executive Officer and his team.

The Trustees have a Finance and Audit sub-committee, which also meets three times a year in addition to the full Trustee meetings, who fulfil their primary responsibilities as follows:

To ensure the adequacy of internal controls, review the management of risk within Youth Music, and monitor the relationship with the internal and external auditors.
To maintain an overview of the strategies, policies and operations of Youth Music to ensure effective management of the organisation’s assets and resources.

Additionally, the committee has responsibility for HR & Remuneration and will consider and determine the remuneration and benefits package of the Chief Executive Officer and the staff, as well as ensuring that staff policies, procedures and development plans are in accordance with best practice and that the HR strategy is in accordance with the Business Plan.

The committee also recommends the formal approval of the Annual Report and Accounts to the Board at the September Trustees meeting.

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Report of the Trustees for the Year Ended 31 March 2021

Executive team

The Senior Leadership Team throughout the year at Youth Music was:

Chief Executive Officer Matt Griffiths Chief Operating Officer Angela Linton Programme Director Carol Reid Youth Engagement Director Daniel Williams

The Senior Leadership Team works under the guidance of the Trustees, to whom they are ultimately responsible. The organisation’s strategic plan is the principal document approved by the Board from which annual operating plans and budgets are developed. The Board monitors progress and achievement of results against the plans. Through robust management, planning and innovation the team members design and formulate policy for programmes and awards as well as develop and manage the grant application process and subsequent monitoring of grant awards and performance. This on-going review process helps ensure that the focus remains on the public benefit derived from the funding received.

Auditors

Each of the current Directors has taken all the steps that they ought to have taken to make themselves aware of any information needed by the charitable company’s auditors for the purposes of their audit and to establish that the auditors are aware of that information. The Directors are not aware of any relevant audit information of which the auditors are unaware.

Employment policies

Youth Music is an equal opportunities employer and the policies and procedures applicable to human resources are kept under regular review and updated in accordance with best practice and changes in the laws relating to employment.

Pay policy for senior staff

The Board of Trustees and the senior leadership team comprise the key management personnel of the charity in charge of directing and controlling, running and operating the charity on a day to day basis. All Trustees give their time freely and no Trustee received remuneration in the year. Details of Trustees’ expenses and related party transactions are disclosed in note 8 to the accounts.

Senior staff remuneration is reviewed annually by the Finance & Audit Committee and the CEO.

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Report of the Trustees for the Year Ended 31 March 2021

Reserves policy

In September 2021, the Trustees reviewed and ratified Youth Music’s Reserve Policy for the organisation.

Key features of this policy were as follows:

To provide an element of security and contingency within the uncertain funding environment in which the Charity operates;
To fulfil our obligations to our employees and the Landlord;
In the event of such action becoming necessary, to enable the Charity to restructure its operations in an orderly and compassionate manner;

At the end of each quarter the Chief Executive Officer reports to Trustees on the following:

The level of reserves at the end of the most recent quarter;
The projected future reserves, based on medium-term financial projections, which will be regularly updated and compared with reserves calculated in accordance with this policy.

In considering the appropriate level of free reserves that the Charity should hold, the Trustees determined that £1.6m should be retained to fulfil our obligations in respect of twelve months operating costs. As at 30 September 2021 these reserves totalled £1,021,570. The Charity has approval from PPL that part of the additional £2.5m funds received during the financial year ending 31 March 2022 can be retained to align the General Reserves with the policy.

At the balance sheet date, if there is a reported excess of unrestricted funds, the Trustees will consider a proposal from the Executive Team as to the use of the excess in accordance with the Charity’s objectives.

Unrestricted Reserves

As set out in Note 19 to the financial statements, Youth Music received £2,683,255 from People’s Postcode Lottery during the year. In consultation with PPL, the funds received each year for granting out in either the current or in future periods are Designated. The balance of the funds received contribute to the operating costs of the Charity. This latter amount is transferred to General Funds. This forms the basis of our partnership arrangement and the Trustees are therefore showing the funds intended for third parties as a separately accounted designated fund.

The timing of receipt of these funds meant that as at 31 March 2021 a significant amount of the funds received had not been committed as at that date. As a result the balance on both the designated fund and the other unrestricted reserves show an unusually high balance.

Designated Reserves

As at 31 March 2021 Youth Music had designated reserves of £3,168,372. This comprises two funds:

£11,700 in respect of the Capital fund represented by the book value of fixed assets; and

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THE NATIONAL FOUNDATION FOR YOUTH MUSIC ANNUAL REPORT AND ACCOUNTS 2020/21

Report of the Trustees for the Year Ended 31 March 2021

£3,156,672 in respect of the PPL funding element

Other unrestricted reserves

The remaining unrestricted reserves amount to £1,021,570 against a target level of £1.6 million.

The Trustees will review the minimum level of free reserves and the use of excess funds annually in the light of the risks identified, notably achieving a diversification of income and the long-term security of the Arts Council England funding.

Strategic Report

Achievements and performance

For details of the achievements and performance of the Charity in the year, please refer to the 2020/21 overview provided on pages 6-12.

Key performance indicators (KPIs)

The Trustees regularly monitor the progress of the Charity by reference to both financial and nonfinancial KPIs, which have been developed to ensure that key elements of our strategy are met. For further details in relation to current year performance against target KPIs, please refer to the 2019/20 overview on pages 6-12 and the financial review below.

Financial review

Total income recognised during the year amounted to £13,205,330 (2020: £13,320,417). This includes full recognition of approved grants receivable relating to the accounting period.

Core lottery-funded income from ACE was £9,651,000 for the year (2020: £9,651,000). The percentage of ACE income granted out to beneficiary organisations was 92% (2020: 92%), in line with the funding agreement. The Peoples Postcode Lottery (PPL) provided funding of £2,683,255 (2020: £2,987,712). Other income comprising donations, grants, and investment income totalled £871,075 (2020: £571,148)

Expenditure for the year amounted to £12,753,630 (2019: £10, 954,965) of which 98% (2020: 97%) was spent on charitable activities and 2% (2020: 3%) to generate voluntary income. Grants of £75,158 (2020: £100,716) previously recognised but not used by grant recipients were written back enabling additional awards to be made during the year.

There was a balance of £119,753 on restricted funds at the year-end (2020: £Nil).

The surplus of income over expenditure on unrestricted funds, amounting to £332,127 (2020: £2,365,452), has been added in to unrestricted reserves, as shown in note 16 to the financial statements.

As a result, reserves of £4,309,515 (2019: £3,857,815) were carried forward at 31 March 2021, of which £119,573 (2020: £Nil) related to restricted funds.

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THE NATIONAL FOUNDATION FOR YOUTH MUSIC ANNUAL REPORT AND ACCOUNTS 2020/21

Report of the Trustees for the Year Ended 31 March 2021

Fundraising

Youth Music is registered with the Fundraising Regulator and our small fundraising team seek to comply with all the relevant standards set out in the Code of Fundraising Practice. There has been no outsourced fundraising via professional fundraises or other third parties.

Our website hosts our Fundraising Promise which outlines our commitment to vulnerable people and the wider public and our Complaints Policy, both of which are accessible to download. We received no complaints in the year.

Plans for future periods

For details of future plans and developments, please refer to the relevant section on page 6.

Principal risks and uncertainties

Youth Music has developed processes to identify potential risks and uncertainties which could adversely impact the achievement of its strategic objectives and/or its operational performance.

Current key strategic risks, and steps to mitigate against them as identified by the Board, include:

Loss of significant portion of Arts Council England National Lottery restricted funds and/or People’s Postcode Lottery unrestricted funding. We have been invited by ACE to submit a proposal for rollover funding at the current level of £9.651m for the period, 1 April 2022 to 31 March 2023 and are currently engaged in a collaborative consultation process with ACE colleagues in relation to funding for the period 1 April 2023 to 31 March 2026. Alongside this we currently have funds in place from The People’s Postcode Lottery and an invitation to submit a request for funding via their Culture Trust fund for £3m for the period 1 January to 31 December 2022.

In light of the long-term impact COVID-19 has had on our sector, our Senior Executive team will continue to work in partnership with Arts Council England and People’s Postcode Lottery senior representatives to explore together how we can collectively ensure that our funding programmes and sector wide support is fit for purpose.

Our long-term goal is to secure ACE and PPL funding at their current levels beyond 2023 and we intend to set out our strategic vision and strategy in a new business plan. Within the new plan we will outline our commitment to the principles set out within ACE’s new 10-year Let’s Create, and set out how our work compliments the outcomes: Creative People, Cultural Communities and Creative and Cultural Country. We will demonstrate our entrepreneurial and innovative credentials as an evidenced-based, inclusive organisation responsive to need, and we will look to illustrate how our PPL funded offer assists us to provide a progressive music offer to young people to make, learn and earn in music.

2. Serious risk to reputation. Good governance principles underpin our organisational approach to running our charity and how we seek to demonstrate leadership to our funders,

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THE NATIONAL FOUNDATION FOR YOUTH MUSIC ANNUAL REPORT AND ACCOUNTS 2020/21

Report of the Trustees for the Year Ended 31 March 2021

partners, grantholders and staff. The organisation has a communications strategy which underpins our strategic delivery nationally within and beyond our sector.

We seek to ensure that we have appropriate policies and procedures in place, that we are legally compliant and have adopted best practice guidance as a charitable organisation and a company limited by guarantee. Our key priorities include continuing to the review and refresh our practices in support of our Safeguarding and GDPR policies, refreshing our funding programmes in consultation with our stakeholders to continue to innovate in respond to need.

As a funder we recognise that we have a duty of responsibility to clearly set out our policies and practices and requirements for prospective and current grantholders. We therefore undertake to regularly review our policies and seek specialist and or legal advice as appropriate to ensure that our policies and practices are compliant, appropriate and accessible.

3. Diversification of income. We adopt a whole organisational approach to fundraising and growing our partnerships on behalf of our grantholders and young people to enable us to continue to break down barriers to accessing funding and in-kind progression opportunities across the music education sector and music industries.

Our small dedicated fundraising and events team work collaboratively with the Executive team to secure long-term partnerships, corporate sponsorship opportunities and unrestricted donations as well as coordinating our flagship Give a Gig fundraising initiative and the celebratory Youth Music Awards.

4. Operational risk. We recognise that ensuring that we have a skilled and experienced board of Trustees and staff team are essential to our continued success. During the year we appointed three new trustees with identifiable expertise, skills and diverse lived experiences alongside further enhancing our staff and freelance teams to assist us to fulfil our strategic goals and ambitions. We recognise that we have a committed long-serving senior executive and management team, and acknowledge that while the loss of more than one of these individuals at any one time may have an impact in the short term on our programme delivery, it would not have an adverse impact long-term on our strategic plans.

All risks and uncertainties, including the key risks, are brought together in the company’s risk register. This register is regularly reviewed by the Senior Leadership Team, investigated by the Finance and Audit Committee and ratified by the full board annually. The executive team, along with certain designated Trustees including the Chair, maintain a close working relationship with both Arts Council England and People’s Postcode Lottery. There is regular consultation on use of funds, governance procedures, and marketing and communications as appropriate, and these discussions give consideration to both short-term and mediumterm planning. As part of its good governance, Youth Music seeks to ensure that it exceeds the standards set for beneficiaries by ACE and PPL.

The Board is satisfied that appropriate systems and responses are in place to monitor, manage and mitigate Youth Music’s exposure to major risks.

The Report of the Trustees and Strategic Report were signed on behalf of the Board

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THE NATIONAL FOUNDATION FOR YOUTH MUSIC ANNUAL REPORT AND ACCOUNTS 2020/21

Statement of Trustees’ Responsibilities

The Trustees, who are also directors of the charitable company, are responsible for preparing their report and the financial statements in accordance with applicable law and regulations .

Company law requires the Trustees to prepare financial statements for each financial year. Under that law the Trustees have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). The financial statements are required by law to give a true and fair view of the state of the affairs of the charitable company and the group and of the surplus or deficit for that period. In preparing these financial statements the Trustees are required to:

Select suitable accounting policies and apply them consistently
Observe methods and principles in the Charities SORP
Make judgements and estimates that are reasonable and prudent
State whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements
Prepare the financial statements on the going concern basis unless it is inappropriate to assume that the charitable company will continue in operation

The Trustees are also responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Statement of disclosure to the auditors

So far as the Trustees are aware:

(a) there is no relevant audit information of which the Company’s auditors are unaware, and
(b) they have taken all the steps that they ought to have taken as Trustees in order to make themselves aware of any relevant audit information and to establish that the Company’s auditors are aware of that information.

Approved by the Trustees on 14 September 2021 and signed on their behalf by:

………………………………….

……………………………..

Chair of Trustees

Chair, Finance and Audit Committee

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THE NATIONAL FOUNDATION FOR YOUTH MUSIC ANNUAL REPORT AND ACCOUNTS 2020/21

INDEPENDENT AUDITOR’S REPORT TO THE MEMBERS OF NATIONAL FOUNDATION FOR YOUTH MUSIC

for the Year Ended 31 March 2021

Opinion

We have audited the financial statements of The National Foundation for Youth Music for the year ended 31 March 2021 which comprise the Statement of Financial Activities, the Balance Sheet, Statement of Cash Flow and the related 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 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).

In our opinion, the financial statements:

give a true and fair view of the state of the charitable company’s affairs as at 31 March 2021 and of the charitable company’s net movement in funds, including the income and expenditure, 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 International 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 charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, 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 trustees’ use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charitable company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.

Other information

The trustees are responsible for the other information. The other information comprises the information included in the Trustees’ Annual Report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated 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 information 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

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THE NATIONAL FOUNDATION FOR YOUTH MUSIC ANNUAL REPORT AND ACCOUNTS 2020/21

INDEPENDENT AUDITOR’S REPORT TO THE MEMBERS OF NATIONAL FOUNDATION FOR YOUTH MUSIC

for the Year Ended 31 March 2021

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.

Opinions on other matters 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’ Annual Report (which includes the strategic report and 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 strategic report and the directors’ report included within the Trustees’ Annual Report have been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception

In the light of the 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 Trustees’ Annual Report (which incorporates the strategic report and the directors’ report).

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:

adequate accounting records have not been kept by the charitable company, or returns adequate for our audit have not been received from branches not visited by us; or
the charitable company 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.

Responsibilities of trustees for the financial statements

As explained more fully in the trustees’ responsibilities statement set out on page 17 , 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 internal 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 auditor’s 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 statements.

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THE NATIONAL FOUNDATION FOR YOUTH MUSIC ANNUAL REPORT AND ACCOUNTS 2020/21

INDEPENDENT AUDITOR’S REPORT TO THE MEMBERS OF NATIONAL FOUNDATION FOR YOUTH MUSIC

for the Year Ended 31 March 2021

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:

Based on our understanding of the charitable company and the environment in which it operates, we identified that the principal risks of non-compliance with laws and regulations related to the recognition requirements of grant income and grant expenditure, and we considered the extent to which non-compliance might have a material effect on the financial statements. We also considered those laws and regulations that have a direct impact on the preparation of the financial statements such as the Companies Act 2006, the Charities Act 2011, and payroll tax.

We evaluated management’s incentives and opportunities for fraudulent manipulation of the financial statements (including the risk of override of controls), and determined that the principal risks were related to posting inappropriate journal entries to revenue, management bias in accounting estimates, and non-compliance with controls for grant making activities. Audit procedures performed by the engagement team included:

Inspecting correspondence with regulators and tax authorities;
Discussions with management including consideration of known or suspected instances of non-compliance with laws and regulation and fraud;
Evaluating management’s controls designed to prevent and detect irregularities;
Evaluating the controls in place over grant making activities;
Identifying and testing journals, in particular journal entries posted with unusual account combinations, postings by unusual users or with unusual descriptions; and
Challenging assumptions and judgements made by management in their critical accounting estimates.

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.uk/auditorsresponsibilities. This description forms part of our auditor’s report.

Use of our report

This report is made 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 charitable company's members those matters we are required to state to them in an Auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company's members, as a body, for our audit work, for this report, or for the opinions we have formed.

Jane Askew (Senior Statutory Auditor) For and on behalf of Haysmacintyre LLP, Statutory Auditors

10 Queen Street Place London EC4R 1AG

11/11/2021 ………………………………………… 2021

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THE NATIONAL FOUNDATION FOR YOUTH MUSIC ANNUAL REPORT AND ACCOUNTS 2020/21

Statement of Financial Activities (incorporating the Income and Expenditure Account) for the Year Ended 31 March 2021

Note Income Income from: Donations 2 Charitable activities 3 Investments Total income Expenditure Expenditure on: Raising funds 4,6 Charitable activities 5 Total Expenditure Net income Net movement in funds Fund balances brought forward at 1 April 2020 Fund balances carried forward at 31 March 2021 15,16	Unrestricted funds Restricted funds Total 2021 £ £ £ 2,812,618 10,374,333 13,186,951 - - - 18,379 - 18,379 2,830,997 10,374,333 13,205,330 176,845 50,000 226,845 2,322,025 10,204,760 12,526,785 2,498,870 10,254,760 12,753,630 332,127 119,573 451,700 332,127 119,573 451,700 3,857,815 - 3,857,815 4,189,942 119,573 4,309,515	Total 2020 £ 13,209,860 55,125 55,432
		13,320,417
		302,797 10,652,168
		10,954,965
		2,365,452
		2,365,452 1,492,363
		3,857,815

The statement of financial activities includes all gains and losses recognised in the year.

All income and expenditure derive from continuing activities.

The notes on pages 26-51 form part of these financial statements

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THE NATIONAL FOUNDATION FOR YOUTH MUSIC ANNUAL REPORT AND ACCOUNTS 2020/21

Balance Sheet as at 31 March 2021

(Registered Company No. 03750674)

Note Fixed assets Tangible fixed assets 10 Current assets Debtors 11 Cash at bank Creditors: amounts falling due within one year 12 Net current assets Total assets less current liabilities Creditors: amounts falling due after one year 13 Net assets Funds Restricted funds 15 Unrestricted funds Designated funds 16 General funds 16	2021 £ 11,700 228,578 14,398,876 14,627,454 (7,696,787) 6,930,667 6,942,367 (2,632,852) 4,309,515 119,573 3,168,372 1,021,570 4,309,515	2020 £ 18,457 110,903 12,291,434
		12,402,337 (6,645,888)
		5,756,449
		5,774,906
		(1,917,091)
		3,857,815
		- 1,811,084 2,046,731
		3,857,815

The accounts were approved by the Trustees, authorised for issue and signed on the Board’s behalf by

YolanDa Brown Tim Berg Chair of Trustees Chair of Finance and Audit Committee

DATE 14 September 2021 DATE 14 September 2021

The notes on pages 26-51 form part of these financial statements

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THE NATIONAL FOUNDATION FOR YOUTH MUSIC ANNUAL REPORT AND ACCOUNTS 2020/21

Statement of Cash Flows for the Year Ended 31 March 2021

Note Cash provided by operating activities Cash flows from investing activities (Purchase) of tangible fixed assets 10 Interest received Cash provided by investing activities Change in cash and cash equivalents during the year Cash and cash equivalents at the start of the year Cash and cash equivalents at the end of the year *Reconciliation of net income to net cash flow* *from operating activities* Net movement in funds Adjustments for Depreciation of tangible assets Interest received (Increase) / decrease in debtors Increase in creditors Net cash generated from operating activities	2021 £ 2,089,063 - 18,379 18,379 2,107,442 12,291,434 14,398,876 451,700 6,757 (18,379) (117,675) 1,766,660 2,089,063	2020 £ 4,761,927 (23,400) 55,432
		32,032
		4,793,959 7,497,475
		12,291,434
		2,365,452 7,333 (55,432) 2,400,794 43,780
		4,761,927

The notes on pages 26-51 form part of these financial statements.

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THE NATIONAL FOUNDATION FOR YOUTH MUSIC ANNUAL REPORT AND ACCOUNTS 2020/21

Notes to the accounts for the Year Ended 31 March 2021

1. Accounting policies

Basis of accounting

The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) – (Charities SORP 2015 (Second Edition, effective 1 January 2019), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.

The National Foundation For Youth Music meets the definition of a public benefit entity under FRS102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy notes.

In the view of the Trustees in applying the accounting policies adopted, no judgements were required that have a significant effect on the amounts recognised in the financial statements nor do any estimates or assumptions made carry a significant risk of material adjustment in the next financial year.

Preparation of accounts on a going concern basis

The Trustees have assessed whether the use of the going concern basis is appropriate and have considered possible events or conditions that might cast significant doubt on the ability of the charity to continue as a going concern. The Trustees have made this assessment for a period of at least one year from the date of approval of the financial statements. In particular the Trustees have considered the charity’s forecasts and projections. After making enquiries the Trustees have concluded that there is a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. The charity therefore continues to adopt the going concern basis in preparing its financial statements.

Income

All grants and donations are accounted for gross when the Charity is entitled to the income, receipt is probable and as long as they are capable of financial measurement.

Donated professional services and facilities are recognised on the basis of the value of the gift to the charity where it is practical to obtain such a value.

Lottery income: Youth Music received proceeds of lotteries held by People’s Postcode Lottery (PPL). Youth Music has no ability to alter the price of tickets, determine the prize or reduce the management fee that is deducted from the net proceeds received. As such PPL is treated as acting as the principal. Net proceeds due to Youth Music are recognised under donations in the statement of financial activities. The analysis of the proceeds is detailed in note 19.

Grant income

Grants awarded to Youth Music during the year are recognised when there is sufficient evidence as to the entitlement of income, there is probable future receipt and amounts receivable are measurable.

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THE NATIONAL FOUNDATION FOR YOUTH MUSIC ANNUAL REPORT AND ACCOUNTS 2020/21

Notes to the accounts for the Year Ended 31 March 2021

Accounting policies (continued)

Expenditure

All expenditure is accounted for gross, including VAT where applicable, as and when incurred. Expenditure which related directly to Youth Music’s charitable objectives are analysed between the following activities:

Programmes
Direct costs
Capacity building

Included in these costs are grants payable. Programmes run for between six months and three years (see note 5).

Direct costs comprise grant support costs, including direct labour, material and other costs relating directly to charitable activities.

The costs of raising funds represent the costs of securing donations and fundraising events.

Staff and support costs (including governance costs) relating to more than one activity have been allocated to activities on a basis consistent with the use of the resources, including management estimate of time spent on activities and apportionment on a headcount basis.

Operating Leases

The costs in respect of operating leases are charged on a straight-line basis over the lease term. The value of any lease incentive received to take on an operating lease (for example, rent-free periods) is recognised as other creditors and is released over the life of the lease.

Pension costs

Contributions to staff personal pension schemes are charged in the year in which they become payable.

Tangible fixed assets

Tangible fixed assets are included at net book value.

Depreciation

Depreciation is provided to write off the cost, less estimated residual values, of all tangible fixed assets, over their expected useful lives. It is calculated at the following rates:

Electronic equipment - 25%
Computer equipment - 25%
Fittings and equipment - 25%

Assets below a cost of £1,000 are not capitalised.

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THE NATIONAL FOUNDATION FOR YOUTH MUSIC ANNUAL REPORT AND ACCOUNTS 2020/21

Notes to the accounts for the Year Ended 31 March 2021

Grant commitments

Grants payable are payments made to third parties in furtherance of the charitable objectives of the charity. Single or multi-year grants are recognised when, following Board approval, the recipient receives the conditional offer of the grant. This is the case unless it cannot be determined with certainty that the recipient will meet these conditions. If at the balance sheet date it is known that any grant liability will not be fully claimed, the liability is corrected to reflect the true extent of the likely claim.

Funds

Unrestricted funds are available for use at the discretion of the Trustees in furtherance of the general objectives of the charity. Designated funds are unrestricted funds that have been set aside at the discretion of the Trustees for a specific purpose. Restricted funds are to be used in accordance with specific restrictions imposed by the donor or grantor.

Accounting judgements and estimates

The key judgements and estimates used in the preparation of these Financial Statements are as follows:

The depreciation rate of tangible fixed assets (as detailed above)
Support costs are apportioned to direct activities based on the direct staff costs allocated to those activities

There are no other key assumptions concerning the future and other key sources of estimation uncertainty at the reporting date that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year.

2. Donations

. Donations
Unrestricted People’s Postcode Lottery (note 19) Other Baskin Foundation YouTube Google Marshall Amplification plc London Community Foundation PayPal Giving Fund	2021 £ 2,683,254 77,470 14,500 14,394 13,000 6,000 4,000 - 2,812,618	2020 £ 2,987,712 234,733 40,081 - - - - 250,000
		3,512,526

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THE NATIONAL FOUNDATION FOR YOUTH MUSIC ANNUAL REPORT AND ACCOUNTS 2020/21

Notes to the accounts for the Year Ended 31 March 2021

Donations (continued) Restricted ACE YouTube Atherton Family Trust Google Alchemy Foundation TikTok Total Donations 3. Income from charitable activities Singbook Other Income Total income from charitable activities 4. Cost of raising funds Current Year Cost of raising funds Prior Year Cost of raising funds	Direct costs Allocated costs (note 6) £ £ 149,195 77,650		10,151,000 57,573 53,760 52,000 50,000 10,000 10,374,333 13,186,951 2021 £ - - - Total 2021 £ 226,845 Total 2020 £ 302,797		9,651,000 - - - 46,334 - 9,697,334 13,209,860 2020 £ 1,125 54,000



					55,125

	Direct costs Allocated costs (note 6) £ £ 207,280 95,517

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THE NATIONAL FOUNDATION FOR YOUTH MUSIC ANNUAL REPORT AND ACCOUNTS 2020/21

Notes to the accounts for the Year Ended 31 March 2021

5. Cost of charitable activities	5. Cost of charitable activities
	Grants	Other	Allocated	Total
Current Year	awarded &	direct	Costs	2021
	programmes	costs	(note 6)
	costs
	£	£	£	£
Programmes	11,089,209	854,248	366,640	12,310,097
Additional Charitable
Programme Infrastructure	-	154,703	61,985	216,688
Total	11,089,209	1,008,951	428,625	12,526,785
	Grants	Other	Allocated	Total
Prior Year	awarded &	direct	Costs	2020
	programmes	costs	(note 6)
	costs
	£	£	£	£
Programmes	9,473,233	550,192	325,588	10,349,013
Additional Charitable
Programme Infrastructure	-	249,345	53,810	303,155
Total	9,473,233	799,537	379,398	10,652,168

In some cases grant recipients do not always claim their awards in full and in those cases the amounts are written back into the funding pot and granted out at the next round.

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THE NATIONAL FOUNDATION FOR YOUTH MUSIC ANNUAL REPORT AND ACCOUNTS 2020/21

Notes to the accounts

for the Year Ended 31 March 2021

6. Allocated support costs Current Year Programmes Direct initiatives Cost of raising funds Total 2021 £ £ £ £ Governance Staff costs 22,042 3,726 4,668 30,436 Audit 11,804 1,996 2,500 16,300 Other 210 36 44 290 Other support Staff costs 99,912 16,891 21,160 137,963 External relations 272 46 58 376 Consultants and temporary staff 10,653 1,801 2,256 14,710 Central office 221,747 37,489 46,964 306,200 Total 366,640 61,985 77,650 506,275 Prior Year Programmes Direct initiatives Cost of raising funds Total 2020 £ £ £ £ Governance Staff costs 21,273 3,516 6,241 31,030 Audit 8,720 1,441 2,558 12,719 Other 582 96 171 849 Other support Staff costs 67,686 11,187 19,857 98,730 External relations 127 21 37 185 Consultants and temporary staff 20,507 3,389 6,016 29,912 Central office 206,693 34,160 60,637 301,490 Total 325,588 53,810 95,517 474,915	6. Allocated support costs Current Year Programmes Direct initiatives Cost of raising funds Total 2021 £ £ £ £ Governance Staff costs 22,042 3,726 4,668 30,436 Audit 11,804 1,996 2,500 16,300 Other 210 36 44 290 Other support Staff costs 99,912 16,891 21,160 137,963 External relations 272 46 58 376 Consultants and temporary staff 10,653 1,801 2,256 14,710 Central office 221,747 37,489 46,964 306,200 Total 366,640 61,985 77,650 506,275 Prior Year Programmes Direct initiatives Cost of raising funds Total 2020 £ £ £ £ Governance Staff costs 21,273 3,516 6,241 31,030 Audit 8,720 1,441 2,558 12,719 Other 582 96 171 849 Other support Staff costs 67,686 11,187 19,857 98,730 External relations 127 21 37 185 Consultants and temporary staff 20,507 3,389 6,016 29,912 Central office 206,693 34,160 60,637 301,490 Total 325,588 53,810 95,517 474,915	6. Allocated support costs Current Year Programmes Direct initiatives Cost of raising funds Total 2021 £ £ £ £ Governance Staff costs 22,042 3,726 4,668 30,436 Audit 11,804 1,996 2,500 16,300 Other 210 36 44 290 Other support Staff costs 99,912 16,891 21,160 137,963 External relations 272 46 58 376 Consultants and temporary staff 10,653 1,801 2,256 14,710 Central office 221,747 37,489 46,964 306,200 Total 366,640 61,985 77,650 506,275 Prior Year Programmes Direct initiatives Cost of raising funds Total 2020 £ £ £ £ Governance Staff costs 21,273 3,516 6,241 31,030 Audit 8,720 1,441 2,558 12,719 Other 582 96 171 849 Other support Staff costs 67,686 11,187 19,857 98,730 External relations 127 21 37 185 Consultants and temporary staff 20,507 3,389 6,016 29,912 Central office 206,693 34,160 60,637 301,490 Total 325,588 53,810 95,517 474,915
		366,640 61,985 77,650 506,275
		Programmes Direct initiatives Cost of raising funds Total 2020 £ £ £ £ 21,273 3,516 6,241 31,030 8,720 1,441 2,558 12,719 582 96 171 849 67,686 11,187 19,857 98,730 127 21 37 185 20,507 3,389 6,016 29,912 206,693 34,160 60,637 301,490 325,588 53,810 95,517 474,915

Staff, support and governance costs including costs associated with IT, HR, finance, property and other central services have been allocated to activities on the basis of staff time spent on activities. The total of £506,275 (2020 - £474,915) is split between allocations to the cost of raising funds and the cost of charitable activities as shown in notes 4 and 5 respectively.

Governance costs include those costs incurred in the governance of the charity and its assets and are primarily associated with constitutional and statutory requirements.

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THE NATIONAL FOUNDATION FOR YOUTH MUSIC ANNUAL REPORT AND ACCOUNTS 2020/21

Notes to the accounts

for the Year Ended 31 March 2021

7. Grants payable and grant liabilities

. Grants payable and grant liabilities
Grants approved to third parties Grants not utilised by recipients, written back Net grant expenditure for the year Grants approved but unpaid at 1 April Payments made to grant recipients during the year Grants approved but unpaid at 31 March	2021 £ 11,095,031 (75,158) 11,019,873 8,367,822 (9,241,529) 10,146,166	2020 £ 9,492,490 (100,716)
		9,391,774 8,406,668 (9,430,620)
		8,367,822

Grants approved are paid out in instalments during the period of the programme of activity to which the grant relates. If, following completion or closure of a programme, any part of the grant remains unclaimed, then this is normally written back against grant expenditure. The grant liability at any point in time represents the net grants approved but unpaid at that time.

A complete list of grant awards made during the year is attached at the end of these financial statements as Appendix A.

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THE NATIONAL FOUNDATION FOR YOUTH MUSIC ANNUAL REPORT AND ACCOUNTS 2020/21

Notes to the accounts for the Year Ended 31 March 2021

8. Employee emoluments Total emoluments - Wages - Employer’s National Insurance - Pension contributions Other staff costs (including staff insurance) Employee emoluments in the band £60,000 - £70,000 Employee emoluments in the band £70,000 - £80,000 Employee emoluments in the band £80,000 - £90,000 Average number of employees during the year Number of employees (FTE) Fundraising Communications Support Programmes staff	2021 £ 875,719 87,302 69,054 1,032,075 23,222 1,055,297 1 - 1 23 2021 3.0 2.5 3.0 14.7 23.2	2020 £ 675,463 68,392 52,092
		795,947
		51,225
		847,172
		1 - 1
		18
		2020 3.2 2.4 1.6 10.7
		17.9

No Trustees, nor any person connected with them, received any remuneration during the year.

During this year and last year no Trustees received reimbursement of expenses.

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THE NATIONAL FOUNDATION FOR YOUTH MUSIC ANNUAL REPORT AND ACCOUNTS 2020/21

Notes to the accounts for the Year Ended 31 March 2021

Key management personnel include the senior management team. The total employee benefits of the charity’s key management personnel, including employer’s NIC, were £306,864 (2020: £247,087).

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THE NATIONAL FOUNDATION FOR YOUTH MUSIC ANNUAL REPORT AND ACCOUNTS 2020/21

Notes to the accounts

for the Year Ended 31 March 2021

9. Net income for the year 2021 This is stated after charging: £ Operating leases – land and buildings 92,050 Depreciation 6,757 Audit fees (net of VAT) 12,083 10. Tangible fixed assets Fixtures and Fittings Database Computer & Electronic equipment £ £ £ Cost As at 1 April 2020 73,209 27,804 145,826 Additions - - - At 31 March 2021 73,209 27,804 145,826 Accumulated depreciation As at 1 April 2020 73,209 27,804 127,369 Charge for the year - - 6,757 At 31 March 2021 73,209 27,804 134,126 Net book value At 31 March 2021 - - 11,700 At 31 March 2020 - - 18,457	2020 £ 61,367 7,333 10,599 Total £ 246,839 -
	246,839
	228,382 6,757
	235,139
	11,700
	18,457

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THE NATIONAL FOUNDATION FOR YOUTH MUSIC ANNUAL REPORT AND ACCOUNTS 2020/21

Notes to the accounts for the Year Ended 31 March 2021

11. Debtors Other debtors Prepayments 12. Creditors: amounts falling due within one year Trade creditors Taxation and social security Accruals Deferred income Grants outstanding Other creditors	2021 £ 131,694 96,884 228,578 2021 £ 78,838 27,855 63,366 - 7,513,314 13,414 7,696,787	2020 £ 40,442 70,461
		110,903
		2020 £ 65,590 24,246 70,237 25,134 6,450,731 9,950 6,645,888

Deferred income relates to income received in relation to the next financial year and so has been carried forward to be utilised in full then.

13. Creditors: amounts falling due after one year

Grants outstanding	2021 £ 2,632,852 2,632,852	2020 £ 1,917,091
		1,917,091

Creditors falling due after one year consist of grant liabilities in respect of projects that are planned to run past March 2022 into later financial periods, i.e. Youth Music confirmed grants, which cover a period of more than one financial year.

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THE NATIONAL FOUNDATION FOR YOUTH MUSIC ANNUAL REPORT AND ACCOUNTS 2020/21

Notes to the accounts

for the Year Ended 31 March 2021

14. Financial Commitments

At 31 March 2021 the charity had the following minimum lease commitments under noncancellable operating leases as set out below:

				Land and	Land and
	Equipment Equipment			Buildings	Buildings
		2021	2020	2021	2020
		£	£	£	£
Operating lease payments	due
within 1 year		4,353	4,353	46,025	76,708
Operating lease payments	due
within 2-5 years		-	2,218	-	-
15. Restricted funds
2021	Opening	Income	Expenditure	Transfers	Closing
	balance				balance
	£	£	£	£	£
ACE – Lottery	-	9,651,000	(9,651,000)	-	-
ACE – Accelerator	-	500,000	(500,000)	-	-
Alchemy Foundation	-	50,000	(50,000)	-	-
TikTok	-	10,000	-	-	10,000
Atherton Family Trust	-	53,760	(53,760)	-	-
Google	-	52,000	-	-	52,000
Youtube	-	57,573	-	-	57,573
Total funds	-	10,374,333	(10,254,760)	-	119,573

2020 ACE – Lottery Alchemy Foundation Atherton Family Trust Total funds	Opening balance Income Expenditure Transfers Closing balance £ £ £ £ £ - 9,651,000 (9,651,000) - - - 46,334 (46,334) - - - - - - -
	- 9,697,334 (9,697,334) - -

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THE NATIONAL FOUNDATION FOR YOUTH MUSIC ANNUAL REPORT AND ACCOUNTS 2020/21

Notes to the accounts

for the Year Ended 31 March 2021

15. Restricted funds (continued)

ACE – Lottery

The Lottery funding from ACE is restricted to projects and programmes within England. Towards the costs of increasing music opportunities for children and young people as set out in an “Agreed Programme”.

ACE – Youth Accelerator Fund

Towards Fund A grants awarded July 2020

Alchemy Foundation

Towards fundraising salary costs.

Atherton Family Trust

Towards COVID-19 Emergency Fund launched April 2020

TikTok

Towards the NextGen Fund

Google

Towards the Incubator Fund

YouTube

Towards the Incubator Fund

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THE NATIONAL FOUNDATION FOR YOUTH MUSIC ANNUAL REPORT AND ACCOUNTS 2020/21

Notes to the accounts for the Year Ended 31 March 2021

16. Unrestricted funds 2021 Designated - capital fund Designated – PPL fund General funds Total funds 2020 Designated – capital fund Designated – PPL fund General funds Total funds	Opening balance Income Expenditure Transfers Closing balance £ £ £ £ £ 18,457 - - (6,757) 11,700 1,762,627 2,683,254 (1,987,853) 698,644 3,156,672 2,076,731 147,743 (511,017) (691,887) 1,021,570
	3,857,815 2,830,997 (2,498,870) - 4,189,942
	Opening balance Income Expenditure Transfers Closing balance £ £ £ £ £ 2,389 - - 16,068 18,457 - 1,762,627 - - 1,762,627 1,489,974 1,860,456 (1,257,631) (16,068) 2,076,731
	1,492,363 3,623,083 (1,257,631) - 3,857,815

Capital Fund - equal to the net asset value of the Foundation’s fixed assets.

PPL Fund - equal to the amount designated by the Trustees for granting out from the funds received from PPL.

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THE NATIONAL FOUNDATION FOR YOUTH MUSIC ANNUAL REPORT AND ACCOUNTS 2020/21

Notes to the accounts

for the Year Ended 31 March 2021

17. Analysis of net assets between funds

Fund balances at 31 March 2021 are represented by:

				Total
	Designated	General	Restricted	funds
	funds	funds	funds	2021
	£	£	£	£
Tangible fixed assets	11,700	-	-	11,700
Current assets	3,156,672	1,205,043	10,265,739	14,627,454
Liabilities	-	(183,473)	(10,146,166)	(10,329,639)
Total net assets	3,168,372	1,021,570	119,573	4,309,515
und balances at 31 March 2020 are represented by:
	Designated	General	Restricted	Total
	funds	funds	funds	funds
	£	£	£	£
Tangible fixed assets	18,457	-	-	18,457
Current assets	1,762,627	2,271,887	8,367,823	12,402,337
Liabilities	-	(195,156)	(8,367,823)	(8,562,979)
Total net assets	1,781,084	2,076,731	-	3,857,815

Fund balances at 31 March 2020 are represented by:

18. Related party transactions

During the prior year one of the Trustees, Rachel Nelken, received a fee of £7,500 for undertaking consultancy.

Robert Aitken, a Trustee appointed in the year, was employed by Brighter Sound an organisation in receipt of grant funding of £160,000, a decision making process to which he had no involvement.

There are no other related party transactions.

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THE NATIONAL FOUNDATION FOR YOUTH MUSIC ANNUAL REPORT AND ACCOUNTS 2020/21

Notes to the accounts for the Year Ended 31 March 2021

19. People’s Postcode Lottery (PPL) Income

During the year Youth Music received net proceeds of lotteries by PPL. As noted in note 1, Youth Music recognises the net proceeds as income, which are determined as follows:

Total paid ticket in draw Actual prizes total Management fee Net proceeds received	2021 £ 8,385,170 (3,354,068) (2,347,847) 2,683,255	2020 £ 9,336,603 (3,734,642) (2,614,249)
		2,987,712

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THE NATIONAL FOUNDATION FOR YOUTH MUSIC ANNUAL REPORT AND ACCOUNTS 2020/21

Notes to the accounts for the Year Ended 31 March 2021

Organisation Loud Arts CIC CM (Community Music ltd) DJ School UK Key Changes Drum Works CIC Baby People Offshoots East Midlands C.I.C OMG Education CIC The Rock Academy Foundation Soundabout Wren Music We Make Culture CIC Young Women's Music Project BlueJam Arts North Tyneside District Disability Forum The Song Lab Limited School Ground Sounds Kids On The Green (KOTG) CIC Ifa Yoruba Contemporary Arts Trust - Head Office Groundswell Arts Chineke! Foundation Trelya Abram Wilson Foundation for Creative Arts Ex Cathedra Ltd Blackpool Music School	Fund Emergency Fund Emergency Fund Emergency Fund Emergency Fund Emergency Fund Emergency Fund Emergency Fund Emergency Fund Emergency Fund Emergency Fund Emergency Fund Emergency Fund Emergency Fund Emergency Fund Emergency Fund Emergency Fund Emergency Fund Emergency Fund Emergency Fund Emergency Fund Emergency Fund Emergency Fund Emergency Fund Emergency Fund Emergency Fund	Grant Amount
		9,754 8,400 8,499 10,000 6,000 9,300 9,980 9,889 8,000 10,000 8,649 7,825 10,000 6,270 3,544 8,051 9,823 9,945 9,550 4,000 10,000 875 9,500 10,000 9,042

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THE NATIONAL FOUNDATION FOR YOUTH MUSIC ANNUAL REPORT AND ACCOUNTS 2020/21

Notes to the accounts for the Year Ended 31 March 2021

Come Play With Me	Emergency Fund	4,050
St Vincent and the Grenadines 2nd Generation
(SV2G)	Emergency Fund	9,273
Indigo Arts	Emergency Fund	3,567
Young Urban Arts Foundation	Emergency Fund	8,000
Angel Shed Theatre Company	Emergency Fund	4,300
LOOSE	Emergency Fund	9,500
Y Services for Young People	Emergency Fund	4,464
HMM Arts Ltd (The Hive Music and Media
Centre)	Emergency Fund	6,919
AutismAble CIC	Emergency Fund	7,200
Beat Routes	Emergency Fund	9,780
Music In Devon Initiative	Emergency Fund	9,270
Unique Talent	Emergency Fund	3,600
The Music Works	Emergency Fund	9,125
BlueBoxt Productions	Emergency Fund	5,000
Babigloo Music for Babies CIC	Emergency Fund	7,005
The Garage Trust	Emergency Fund	10,000
Girls Rock London	Emergency Fund	8,480
Leeds Diocesan Trust	Emergency Fund	10,000
HQ Can CIC	Emergency Fund	9,953
Aptitude Organisation CIC	Emergency Fund	9,707
Music Fusion	Emergency Fund	1,917
Creative Academies	Emergency Fund	9,963
Watermans	Emergency Fund	9,990
Fairbeats Music	Emergency Fund	7,886
London Saz School	Emergency Fund	8,975
Nottinghamshire YMCA	Emergency Fund	8,750
Copenhagen Youth Project	Emergency Fund	8,229

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THE NATIONAL FOUNDATION FOR YOUTH MUSIC ANNUAL REPORT AND ACCOUNTS 2020/21

Notes to the accounts for the Year Ended 31 March 2021

MAP Charity	Emergency Fund	10,000
Jamming Station	Emergency Fund	10,000
Knowle West Media Centre	Emergency Fund	8,355
Birmingham Urban Rhythm Network (BURN)	Emergency Fund	7,190
Arts at the Mill CIC	Emergency Fund	6,061
Pulse Arts CIC	Emergency Fund	9,982
Free 2 Talk Community Interest Company	Emergency Fund	9,995
Niamos Radical Arts & Cultural Centre	Emergency Fund	9,789
Coram's Fields	Emergency Fund	9,993
Aspire4u CIC	Emergency Fund	9,376
Merseyside Youth Association	Emergency Fund	9,418
Ark-T Centre	Emergency Fund	9,869
Beat This CIC	Emergency Fund	9,918
Reprezent	Emergency Fund	9,564
Unity Radio	Emergency Fund	10,000
Offshoots East Midlands C.I.C	Fund A	29,736
Loud Arts CIC	Fund A	27,505
CHUMS	Fund A	29,644
Sonia Sabri Company	Fund A	21,100
Oswestry Community Action	Fund A	29,353
INFL Ltd	Fund A	28,575
Two Rivers High School	Fund A	29,262
Daisy Inclusive UK	Fund A	21,945
Voluntary Action Epping Forest	Fund A	29,661
Scary Little Girls Association	Fund A	13,024
Quench Arts	Fund A	29,987
University of York	Fund A	30,000

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THE NATIONAL FOUNDATION FOR YOUTH MUSIC ANNUAL REPORT AND ACCOUNTS 2020/21

Notes to the accounts for the Year Ended 31 March 2021

Wild Things Ecological Education Collective Ltd.	Fund A	17,781
Long Division CIC	Fund A	14,995
CM (Community Music ltd)	Fund A	28,543
Creative Arts East	Fund A	20,300
HMDT Music	Fund A	28,930
Community Arts North West (CAN)	Fund A	30,000
In-Spire Sounds	Fund A	20,000
Northern Roots	Fund A	30,000
North Tyneside Music Education Hub	Fund A	29,760
Niburu Recordings Ltd	Fund A	24,420
Future Yard CIC	Fund A	29,956
Hastings Thrives	Fund A	16,328
Starling	Fund A	29,924
AudioActive	Fund A	27,990
Public Service Design Practice CIC	Fund A	28,980
The Arts Development Company	Fund A	29,893
SEND Project	Fund A	29,969
Creative Youth Network	Fund A	29,395
Kids On The Green (KOTG) CIC	Fund A	30,000
School Ground Sounds	Fund A	28,244
High Oak Youth and Community Centre	Fund A	30,000
Westfield School	Fund A	26,201
Marlow Opportunity Playgroup	Fund A	25,316
Baby People	Fund A	29,990
Merseyside Arts Foundation	Fund A	27,490
Creative CoLab	Fund A	29,829
Prison Radio Association	Fund A	27,120

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THE NATIONAL FOUNDATION FOR YOUTH MUSIC ANNUAL REPORT AND ACCOUNTS 2020/21

Notes to the accounts

for the Year Ended 31 March 2021

Candy Arts	Fund A	29,773
Knowsley Lane Primary School	Fund A	25,200
Hertfordshire County Council	Fund A	28,215
Rap Club Productions C.I.C	Fund A	29,450
Hull Sound Circles	Fund A	20,385
Barbican Theatre	Fund A	29,880
Inclusic	Fund A	21,413
EDGE NE CIC	Fund A	29,595
Create Define Release (CDR)	Fund A	30,000
Art Against Knives	Fund A	29,980
Middleport Matters	Fund A	29,999
CAN YOU CIC IT?	Fund A	30,000
SoCo Music Project	Fund A	28,900
ARK Schools	Fund A	25,000
Wren Music	Fund A	25,645
Music Arts Project CIC	Fund A	25,001
Nightsafe Limited	Fund A	9,746
North Tyneside Libraries	Fund A	9,805
Music Leeds	Fund A	29,798
Cascade Multi Academy Trust	Fund A	29,500
Derby County Community Trust	Fund A	29,750
Hospital and Home Education Learning Centre	Fund A	27,825
GL360	Fund A	29,904
Central African Youth in Enfield (CAYE)	Fund A	27,868
We Make Culture CIC	Fund A	29,930
Young Technicians CIC	Fund A	29,880
Southwark Music Service	Fund A	9,996

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THE NATIONAL FOUNDATION FOR YOUTH MUSIC ANNUAL REPORT AND ACCOUNTS 2020/21

Notes to the accounts

for the Year Ended 31 March 2021

Music Fusion	Fund A	28,476
Clapton Common Boys Club	Fund A	29,992
Gipsil	Fund A	29,350
The Grove School	Fund A	29,990
Cosmopolitan Arts	Fund A	30,000
Brighton Youth Centre	Fund A	29,260
The Spark Arts For Children	Fund A	29,950
Mindcheck One Two C.I.C	Fund A	29,953
Magic Acorns	Fund A	29,900
Black Health Initiative (BHI)	Fund A	24,924
Sounds of Intent Charity	Fund A	5,760
Note Weavers	Fund A	29,770
Creative Minds	Fund A	26,550
Barnardo's	Fund A	9,523
The Bolton Impact Trust (BIT)	Fund A	14,690
Creative Futures (UK) Limited	Fund A	26,250
Sutton Music Education Hub/Sutton Music
Service	Fund A	16,241
Girls Rock London	Fund A	30,000
Arc	Fund A	29,850
Reestablish	Fund A	29,968
The Song Lab Limited	Fund A	29,966
Black Room Studios Ltd	Fund A	29,226
The Otherwise Club	Fund A	22,253
Play for Progress	Fund A	22,680
Hartpury University	Fund A	29,700
North Lincolnshire Music Support Service	Fund A	25,000
Seashell Trust	Fund A

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THE NATIONAL FOUNDATION FOR YOUTH MUSIC ANNUAL REPORT AND ACCOUNTS 2020/21

Notes to the accounts

for the Year Ended 31 March 2021

		29,914
Jamming Station	Fund A	28,645
Carbon Theatre	Fund A	28,443
Tandem Theatre	Fund A	29,935
Lincolnshire Music Service	Fund B	199,550
The Roundhouse Trust	Fund B	99,525
Jack Drum Arts	Fund B	100,000
We are Music	Fund B	80,400
Finding Rhythms CIO	Fund B	89,029
BHT Early Education and Training	Fund B	119,996
Rockinghorse Children's Charity	Fund B	90,405
Pie Factory Music	Fund B	100,000
SoundStorm	Fund B	99,900
DaDaFest	Fund B	98,876
New Writing North	Fund B	99,500
Global Grooves	Fund B	139,136
The Spark Arts For Children	Fund B	95,390
The Community Recording Studio	Fund B	94,809
Lewisham Music	Fund B	96,180
Music Action International	Fund B	101,524
St Helens Council Music Service	Fund B	149,900
SoCo Music Project	Fund B	97,500
Yorkshire Youth and Music	Fund B	100,000
Templesprings	Fund B	99,870
Punch Records	Fund B	100,000
City of London Sinfonia	Fund B	79,340
The Pythian Club	Fund B	54,475
Bath Festivals	Fund B

DocuSign Envelope ID: 6EBFE93F-F5C9-408E-AC5A-9C8FC1796F43DocuSign Envelope ID: 49B22210-BB84-426D-9EA3-62D484AA2143

THE NATIONAL FOUNDATION FOR YOUTH MUSIC ANNUAL REPORT AND ACCOUNTS 2020/21

Notes to the accounts

for the Year Ended 31 March 2021

		83,143
20Twenty Productions CIC	Fund B	111,460
Aspire in Arts Ltd	Fund B	99,252
Music In Detention	Fund B
The Junction Foundation	Fund B	89,521
Barnardo's	Fund B	99,543
All Star Entertainments	Fund B	145,000
Orchestras for All	Fund B	60,000
Tract and Touch	Fund B	150,000
TiPP	Fund B	84,250
Offshoots East Midlands C.I.C	Fund B	99,899
WILD Young Parents' Project	Fund B	145,683
Higher Rhythm Ltd	Fund B	102,633
The Crew Club	Fund B	51,340
Reprezent	Fund B	129,835
Songbirds Music UK	Fund B	110,000
Castaway Music Theatre	Fund B	90,271
SHP - Single Homeless Project	Fund B	110,000
Soundcastle	Fund B	99,881
Croydon Music & Arts	Fund B	100,000
Royal Court Liverpool Trust Ltd	Fund B	81,320
Nottinghamshire YMCA	Fund B	99,638
Brighton & Hove City Council (Adolescent
Services Dept)	Fund B	99,500
Media Mania	Fund B	99,890
Creative Academies	Fund B	87,500
	Music Education Hub Development
Severn Arts	Fund	49,829
	Music Education Hub Development
Lewisham Music	Fund	41,372
	Music Education Hub Development
Southampton Music Service	Fund	49,800

DocuSign Envelope ID: 6EBFE93F-F5C9-408E-AC5A-9C8FC1796F43DocuSign Envelope ID: 49B22210-BB84-426D-9EA3-62D484AA2143

THE NATIONAL FOUNDATION FOR YOUTH MUSIC ANNUAL REPORT AND ACCOUNTS 2020/21

Notes to the accounts for the Year Ended 31 March 2021

	Music Education Hub Development
Together for Children: Sunderland Music Hub	Fund	49,970
	Music Education Hub Development
Waltham Forest Music Service	Fund	49,500
	Music Education Hub Development
Rotherham Metropolitan Borough Council	Fund	49,500
	Music Education Hub Development
Bradford Music Education Hub	Fund	50,000
Thirty Pound Gentleman	Incubator Fund	15,000
Nottingham Community Artist Network	Incubator Fund	27,238
Creative Crieff	Incubator Fund	23,500
Saffron Records C.IC.	Incubator Fund	25,795
Forté Project	Incubator Fund	30,000
Swansea Music Art Digital	Incubator Fund	28,789
Tees Music Alliance	Incubator Fund	29,805
Generator	Incubator Fund	29,550
Reform Radio CIC	Incubator Fund	29,964
The Music Works	Incubator Fund	30,000
National Youth Arts Wales	Incubator Fund	29,000
Cafe INDIEpendent Ltd	Incubator Fund	28,701
Girls I Rate	Incubator Fund	22,766
Young Guns Network Ltd	Incubator Fund	28,366
Spiral Skills	Incubator Fund	29,640
Swell Music CIC	Incubator Fund	29,600
Ezra Collective - New Future Foundation	Incubator Fund	30,000
Kaleido Music UK Ltd	Incubator Fund	6,268
Sound City(Liverpool)	Incubator Fund	30,000
QM Records Limited	Incubator Fund	18,600
Link Up TV Ltd	Incubator Fund	24,000
Beats Bus Records	Incubator Fund	25,000
Black Acre Records Ltd	Incubator Fund	16,000

DocuSign Envelope ID: 6EBFE93F-F5C9-408E-AC5A-9C8FC1796F43DocuSign Envelope ID: 49B22210-BB84-426D-9EA3-62D484AA2143

THE NATIONAL FOUNDATION FOR YOUTH MUSIC ANNUAL REPORT AND ACCOUNTS 2020/21

Notes to the accounts for the Year Ended 31 March 2021

The Crib	Incubator Fund	30,000
Young Thugs	Incubator Fund	29,550
Palm Bay Music	Incubator Fund	29,890
High Roller	Incubator Fund	30,000
Noods Radio Ltd	Incubator Fund	26,869
Sable Radio	Incubator Fund	13,000
Platform B	Incubator Fund	28,600
Dontfret Media	Incubator Fund	19,200

Very poor	Below average	Average	Above average	Excellent

1%	1%	7%	41%	49%

	-
1%		17%	48%	35%


1%	2%	16%	49%	33%


1%	1%	18%	35%	44%


1%	1%	17%	41%	40%


1%	1%	14%	27%	58%

	-
1%		9%	38%	53%


1%	3%	26%	36%	34%

Very poor	Below average	Average	Above average	Excellent

1%	1%	7%	41%	49%

	-
1%		17%	48%	35%


1%	2%	16%	49%	33%


1%	1%	18%	35%	44%


1%	1%	17%	41%	40%


1%	1%	14%	27%	58%

	-
1%		9%	38%	53%


1%	3%	26%	36%	34%

2021-03-31-accounts

Contents

THE NATIONAL FOUNDATION FOR YOUTH MUSIC ANNUAL REPORT AND ACCOUNTS 2020/21

Report of the Trustees for the Year Ended 31 March 2021

PART ONE

Reference and administrative details

Registered office

Charity registration number

Company registration number

Professional advisors

External Auditor

Chartered Accountants

Bankers

Legal and administrative details

Report of the Trustees for the Year Ended 31 March 2021

Chair and CEO Intro

Objectives and Activities

Why we exist

THE NATIONAL FOUNDATION FOR YOUTH MUSIC ANNUAL REPORT AND ACCOUNTS 2020/21

Report of the Trustees for the Year Ended 31 March 2021

Who we help

Data and evidence in this review

THE NATIONAL FOUNDATION FOR YOUTH MUSIC ANNUAL REPORT AND ACCOUNTS 2020/21

Report of the Trustees for the Year Ended 31 March 2021

Achievements and Performance

1. Our Impact: INSIGHTS

Using our insight, investment and influence, we have catalysed change in diversity practices. With new policies, frameworks and attitudes in place, we maximised this rare opportunity to change outdated systems.

Research to identify issues:

Data to inform the places, people and projects we invest in

THE NATIONAL FOUNDATION FOR YOUTH MUSIC ANNUAL REPORT AND ACCOUNTS 2020/21

Report of the Trustees for the Year Ended 31 March 2021

2. Our Impact: INVESTMENT

THE NATIONAL FOUNDATION FOR YOUTH MUSIC ANNUAL REPORT AND ACCOUNTS 2020/21

Report of the Trustees for the Year Ended 31 March 2021

Case Study: Early Years. Telford & Wrekin Music’s Soundpots Project

Case Study: Disabled Young People, Soundabout’s Inclusive Choir

NextGen 18-25s: From Learning to Earning

Report of the Trustees for the Year Ended 31 March 2021

Case Study: young adults, Sound Connections’ Wired4Music

Incubator Fund

3. Our Impact: INFLUENCE

We back grassroots changemakers who are experts in inclusive practice

Report of the Trustees for the Year Ended 31 March 2021

Our investment provides training for the workforce

We model good practice in our own work

We help increase understanding of equality, diversity and inclusion practices

Report of the Trustees for the Year Ended 31 March 2021

Connecting music education and the music industries

“Outstanding” COVID-19 Response

Report of the Trustees for the Year Ended 31 March 2021

Case study: Youth Justice, Unique Talent CIC

What we learned

Report of the Trustees for the Year Ended 31 March 2021

Future Plans

Organisational Objectives

Report of the Trustees for the Year Ended 31 March 2021

PART TWO – Governance and Accounts

Structure, governance and management

Trustee appointment, induction and training

Detailed administration information

Report of the Trustees for the Year Ended 31 March 2021

Executive team

Auditors

Employment policies

Pay policy for senior staff

Report of the Trustees for the Year Ended 31 March 2021

Reserves policy

Unrestricted Reserves

Designated Reserves

THE NATIONAL FOUNDATION FOR YOUTH MUSIC ANNUAL REPORT AND ACCOUNTS 2020/21

Report of the Trustees for the Year Ended 31 March 2021

Other unrestricted reserves

Strategic Report

Achievements and performance

Key performance indicators (KPIs)

Financial review

Report of the Trustees for the Year Ended 31 March 2021

Fundraising

Plans for future periods

Principal risks and uncertainties

Very poor	Below average	Average	Above average	Excellent

1%	1%	7%	41%	49%

	-
1%		17%	48%	35%


1%	2%	16%	49%	33%


1%	1%	18%	35%	44%


1%	1%	17%	41%	40%


1%	1%	14%	27%	58%

	-
1%		9%	38%	53%


1%	3%	26%	36%	34%