2022-03-31-accounts

Docusign En¥ÈlopÈ ID". 6B4257D4-26024B41-867B-1E9429A55024 YOUTH MUSIC Company no. 03750674 Charity no. 1075032 The National Foundation for Youth Muslc Report and Financial Statements 31 March 2022

Docusign En¥ÈlopÈ ID". 6B4257D4-26024B41-867B-1E9429A55024 THE NAIIONAL FOUNDATION FOR YOUTH MUSIC ANNUAL REPORT AND ACCOUNTS 2021122 Contents Page PART ONE Reference and administratlve details Chair and CEO Introductlon Objectives and Activtlies Future Plans 18 PART TWO- Governal￿e and A¢¢ounts Report of the TNstees 20 Statement of Trustees, responsibilitiès 26 Independ8nt auditor's report 28 Slatement of financial activities 33 Balance sheet statement of cash flows 35 Notes to the accounts 38

Docusign En¥ÈlopÈ ID". 6B4257D4-26024B41-867B-1E9429A55024 THE NATIONAL FOUNDATION FOR YOiITH MUSIC ANNUAL REPORT AND ACCOUNTS 2021122 Report of the Trustees For the Year Ended 31 March 2022 PART ONE Reffrrence and admlnlstratlve details The Truslees, who are also DirectoFB for the purposes of Company law, who served during the year and up to the date of signing were.. YolanDa Brown- Chair Rachel Nelken Rachel Lindley Sam Ross Robert (Freddie) Atken Sophia Hall Chris Price- Resigned 07112121 Tim Berg- Resigned 1619121 Nathlfa Jordan - appointed 1715121 Sam Denniston - appointed 1715121 Miri Buac- appointed 1715121 All TrusteeSlDirectc￿S are non-exe¢utive and are not remunerated for seNices rendered to Youth Music. Reglstered offiee Studio LG01, The Print Rooms 164-180 Union Street London SE1 OLH harlfy reglstratlon number 1075032 Company registratlon number 03750674 Professional athiisors External Audltor Haysmacintyre LLP, 10 Queen Street PlaeE, Lond¢Jn, EC4R 1AG Chartered Accountants JS2, On8 Crovm Square, Church Street Easl, Woking, GU216HR Bankers Lloyds TSB, 344 Gray's Inn Road, London Coutts. 440 Strand. London WC2R OQS Laga and adminlstrative detalls The registered name of the charity is The National Foundation for Youth Music. The charity wa5 tncorpor2ted as a company limited by guarantee on 8 April 1999. The charity is govemed by thè provisions of its Memorandum and Articles of Associalion.

Docusign En¥ÈlopÈ ID". 6B4257D4-26024B41-867B-1E9429A55024 THE NATIONAL FOUNDATION FOR YOUTH MUSIC ANNUAL REPORT AND ACCOUNTS 2021122 Repth* of the Trustee$ For the Year Ended 31 March 2022 Chair and CEO Intro The turbulenc8 of the last two years shows no sign of abating. Th& global pandemic has been followed up by a trilogy of other threats: war, climate change and cost of living crisis. Al of which directly impact on th8 lives of young people. And those facin9 barriers In their lives are disprcportionately impacted. For many children, youThJ people and their faMil￿e5, music remained a consistent lrfeline. And projects have needed Youth Music's support more than ever. We've acted re5pon8ively to ensure that young people Can continu8 making, leaming and eaming in music, across the UK. Thanks to our role as a delegated distributor of National Lottery funds we receive via Arts Council England, and investment from People's Postcod8 Lottery, we've b8en able to bring positive impact to more young people by reaching new areas geographically and opening up to a wider breadth of applicants. The scale of our work has also increased, with applications up by more than ontrthird. We had five organlsational objectives in 2021-2022, designed to achieve our four slrategic pillars (Effective Operations, Lead in Diversifying, Build Brand and Secure Income). Consolidate Initlallves and Embed Processes W8 worked with wnsultants at DOT PROJECT to conduct a digital review, resulting in several strategic recommendations leading to our refreshing our structure & capacty. working practices. arKI use of digital tools-. and committing to implementing a strategy to ensure our infrastructure and team are frt for purpose. In¢rea$e Brand Value We refined our visual identity, brand positionlng and communications strategy, adapting our marketing to a campaign-led approach. We increased awareness arnongst influential music industy audiences through the Youth Music Awards. Increase Income via Partnerships Our partnerships with TikTok and YouTube enabled us to fund more projects, as well a5 adding value to our funded partn8r Communities through pro-bono advice. support and workshops. Catalyso Change In Sèctor Practi¢es Our new learning end development series, Exchanging Notes, supported sector professionals to upsklll through talks and workshops.

Docusign En¥ÈlopÈ ID". 6B4257D4-26024B41-867B-1E9429A55024 THE NATIONAL FOUNDATION FOR YOUTH MUSIC ANNUAL REPORT AND ACCOUNTS 2021/22 Report of the Trustees For the Year Ended 31 March 2022 Close Gap from Muslc Learnlng to Earnlng In a landmark yèar. we are proud to have launched the Youth Music NextGen Fund. Buitt lo support young creatlves to work in the music industries, it's the first tlme in our history where we are investing in young paople dir8Ctiy. We're d8lighted to have been soli￿ted by Arts Council England to re-apply to be a delegated National Lottery distributor in line with their strategy, Let's Create. If succ8ssfvI, income of £9.6 million per year from 2023-2026 will ensure that we can fund partners in their vital work with chlldren and young people. and continue our pioneerfng role diVerSi￿'ng and equalising the creative sector. In the last two years we've acted swiftly lo get nK)ney and support to lh8 front line. We've now had time to reflect on our intemal processas a￿1 recc*Jnise opportunities for improvement. This requlres long term investment in Youth Music as an organisalion- not just in our funding slreams. As we look to the future, it's clear that there are difficult times thead. We will take stc¢k and en5ur8 we utilise our Inslghts. investrnent and Influence to put the needs and views of young people front and ￿￿tre. And we will ensure music remains a constant in an un￿rtain and changing world. Objectives and Activltles We believe that every young p8rson should have a chanc£ to change their lrfe through rnusic. Yel research shows that many miss out. Through our insights, inlluence, and inveslment in grassroots organisations. we make sure more young people can make,16arn and eam in music nationwide. Youth Music is a national charity fund6d thanks to the Natlonal Lotl8ry via Arts Council England, players of People's Post¢ode Lottery and support from partners, fundraisers and donors. Who we work wlth 0-25 year olds facing barriers In lrfe because of who they are, where they're from or what they, going through. Our priority areas- Early Years, Disability, Youth Justloe, Rural areaslregions outside of London, Social Justice issues in the music industries (e.g. race, gender, sexuality, income). 18-25s.

Docusign En¥ÈlopÈ ID". 6B4257D4-26024B41-867B-1E9429A55024 THE NATIONAL FOUNDATION FOR YOUTH MUSIC ANNUAL REPORT AND ACCOUNTS 2021122 Report of the Trustees For the Year Ended 31 March 2022 Data and evidence At Youth Music w8're led by evidence and aGt on the view5 of our stakeholders. In this reFJOrt we draw on a variety of dats. This includes our own ￿Search. funding application and reporting data, and feedback from our annual stakeholder Survey Iwhlch is sent to anyone who has applied to us for funding). We also use published data and evidence from other sources. Achievements and Performance Our Impact: INSIGHTS Using dats and eviden￿ Youth Music has driven change V￿thin our organisation. funded proieds. and Ihe wid8r sector. YOUNJ Peoplè Our annual Youth Music NextGen survey helps us understand how we can best support 18-2 Y&ar￿Id$ in transitioning from learning to eaming in music. 87°/o of those suNeyed thought that to a goodlgreat extent. Youth Music 15 inclusive in [15 approach to ¢reating opportunities for youn9 paople. 70Yfy found opportunities on offer to be accessible to a goodlgreat extent. Many respondent8 highllghted how much they value Youth Music's incluslve ethos: .1 feel that as a young woman without a degree, Youth Music has funded projects which havg given rne corfidence in taklng up space in a male dominated field. l a￿ayS see many locatlons listed for vaGan¢ies on the opportunities board so I feel that Youth Music provide schemes for many young p8ople across the UK.. Muslc for Wellbelng and Self-Exprèssion A$th8 Office of National Statistics reported that the wellb8ing of young people in the UK is deolining, we conduded our own research exploring the links be￿een songwriting and wellbeing in young people. Our Y th Music Self-Ex ression Re ort showed Ihe positive irnpaci musio has on the wellbeing of young peoplè. We appointed four Youth Music NextG8n cNesearthers aged 18-25 to worf( with us on analysing the interview data, ensuring voices of young people were represented throughout the research process.

Docusign En¥ÈlopÈ ID". 6B4257D4-26024B41-867B-1E9429A55024 THE NATIONAL FOUNDATION FOR YOUTH MUSIC ANNUAL REPORT AND ACCOUNTS 2021122 Report of the Truslees For the Year Ended 37 March 2022

SharoTheMic

To infomi th8 next phase of our #ShareTheMic cam n, which promotes youth voice and participation, we asked slakeholders about their own youth Vol￿ praCti￿S. A significant proportiDn of respondents fomially consult with young people and feed back to thgm, support them to run their own projects and events and provide enty-18vel employment. Less common was to have young people on Trustee or advisory boards, to offer specific youth leadership programmes or engag6 young people in campaigning or advocacy So¢lal and Envlronmentsl Each year in our stakeholder survey, we ask about toplcal issues to infomi our future work. The Youth Music Rechar Fund, for example, was a dired response to how the pandemlc was affe￿ing our stakeholders. With the climats em•rgen¢y set to significantty Smpact thè next generation, this year we wanl8d to undérstand our rolè in supporting young people as an ethical and responsible national charity. We found that over half of respondents.. embed 8nvironmental themes in creative work with young people take acuve steps to reducè their environmental impact. but haven't fomiallsed thes8 into a plan. We also asked people about the Cost of lfving crlsis. It's no SUTprise that the biggest wory was the Impact on chlldren and young people. Respondents shared how the erisis is already having an impact.. °Tired and worri8d. Not enough to eat sometimes. No mongy to travel to other parts of the city for 18aming experiences. Lack of choice and aspiration. Low mood.. 'apart from tho obvious (household income not going as far), I think a lot of young people's mental health is suffering because they are worried about their par8ntsl guardians... they feel they donl want to burden I wony Ilhernj any further. This Ès leading a number of [young peopleJ to gel to the point of real crisis because th8y're tK)tlling up a lot of worry." After concems for children and young people, our stakeholder's most pressing worries we increased demand for servlcos and falling donations or incomg. Impact on slaff wellbeing and incrÈased costs from wages were also deemed a priority.

Docusign En¥ÈlopÈ ID". 6B4257D4-26024B41-867B-1E9429A55024 THE NATIONAL FOUNDATION FOR YOUTH MUSIC ANNUAL REPORT AND ACCOUNTS 2021122 Rep¢)rt of the Truslees For the Year Ended 31 March 2022 Our Impact- INVESTMENT Through support from Youth Music. grassroots music organisations are building a better fLrture for young people. Informed by our researth, we launched three new funds ir121122: Youth Music NextGen Fund Invesls dir8(aly in young creatives to make thelr Ideas happen. For musicians and behind the scenes creatives held ba¢k by a lack of finance. Grants of up to £2,500 for creatives in England. Scotland, Wales, and Northem Ireland. 'tfhel N8xiGen grant helped me in so many ways. Before my first release the workshop held with TikTd( changed the game for mg. I signed up to Soundo immediately and my first single has been used in over 50,000 TikTok videos and viewed more than 9 million tirnos. This also went on to be a springboard for what was about to come. The grant allowed me to invest in all of my rèleases promotion and production wlse and create music videos for each. The music vldeos lied in with th8 tluctuation of new listeners from TikTok saw me develop a small but loyal and consistent fanbase. Youth Music NextGen Fund recipient. Youth Muslc Ro¢harge Fund A one-off fund designed to help organisations recharge post-pandemi¢. with a focus on organisational d6velopment and w811being. Grants of up to £90.000 for grassroots music organisations in England. Scouand and Wales. Youth Music are leading sectoral chang8 through their Recharge Fund. In our fast-paced sector, it feels as though we are expected to sweep the pandemic under the rug as we face ev8n more uncertain times economically... we all need to recharge now so that we can be future-facing and r8silient organisations and people". Recharge Fund peer consultsnt Mahalla Burn Wales Fund A £150,000 grant to kick-start a new national funding programme in Wales. Delivered in partnership with Anthem. Wales. e are extrerllely excited to be able to offer this funding to or9anisations in Wales working through Mus￿. The Atsaln Fund will support music projects to connect with even more young people and help them build confidence. leam to collaborate, explore their creativty and find pathways to potential future careers." Anthem Wales Chief Executive Rhlan Hutchings

Docusign En¥ÈlopÈ ID". 6B4257D4-26024B41-867B-1E9429A55024 THE NATIONAL FOUNDATION FOR YoifiH MUSIC ANNUAL REPORT AND ACCOUNTS 2021122 Report of the Trustees For the Year Ended 31 March 2022 Funds Refrosh For the past ten years, Youth MUS￿ has run strategic progTamrntS to embed equality, diversity aNI inclusion at the heart of music education, to significant success. With national policy becomiru more inclusive, a looming recession and a new National Plan for Music Education on the horfzon, it's time to ensure we're investing in innovats'on as well as sustaining provision. 191 peopl8 r8sponded to our initial consultation, and we sought input from pe8r consultants Inclthllng applicants and funded partner8. This resulted in refreshed funding un eo streams, desrgned to be more a￿essIble, more 8qUitablÈ and more participatory. Trailblazer is all about trialling, testing and disruptlng the status quo. Catalyser is all about sustaining. scaling up er changing sector practice. Youth Music has Ilstened to f8edback arKJ has implement8d w81come Changes. It is now a fiexib and understanding funder without losing any of Its robustness and Gommilment to its outcome3". stakeholder Surv8y respondent FUNDING STATISTICS This year Youth Music.. Made funding decision5 on 1,224 applications Awarded 287 grants, including= 250 to organisations and sole traders 37 to NextGen Creatives Grew investment by 140h to £12,618,287 £10,912,205 in new grant awards 0 £1,699,677 In our strategic programme. Fund C £6,405 in grant inueases to support partlCiP81ion in Youth Music opportunities (e.g. Give a Gig Week) Leveraged funding: for every £1 of Youth Music investment, projects sec#Jred an addltional 77p of matched funding. Equltable Investment People and places facing the biggest barriers re￿1ve the most support: 85Yo outside of London 0 3% in Scotland 4% in Wales

Docusign En¥ÈlopÈ ID". 6B4257D4-26024B41-867B-1E9429A55024 THE NATIONAL FOUNDATION FOR YOUTH MUSIC ANNUAL REPORT AND ACCOUNTS 2021122 Report of the Trustee$ For the Year Ended 31 March 2022 590k of investment into diverse-18d org8nisations. £7,110 in aryess funds to support Disabled people to apply for Youth Music fvnding. 328 people attended yO￿h Music support workshops and Q8As on writing funding applications and designing a strong project. Around 100 18-25 year olds had 1..1 advice sessions prior to applying to the NextGen Fund. Youth Muslc NexlGen Fund (awards) £95.641 invested in 37 grant$ 52Yo women and gender minorities 32Yo from a lower socio-economic background 32¥/0 identify as Disabled 51% people from the Global Majority 62¥0 first time apptying for fvnding Who wa worked wlth We worked with 86.490 children and young people, 29.991 on a susLgined basis 79-25yrs 12% 0-5y 1696 1&18yrs 14% Age Range - Distribution of agès of core partlcipanls in evaluation data {recorded for 27,986 participants) 72-15yrs 28Qh Non-binary Female 43.0 Male 52.1% Gondor- Gend8r identities of core partlclpants in evaluation dats l¢ollectèd from 25,047 arbcipants). 0.4% preferr8d to self-describe their gender identity, and 3.50/0 preferrgd not to say a point of data Gollection.

Docusign En¥ÈlopÈ ID". 6B4257D4-26024B41-867B-1E9429A55024 THE NATIONAL FOUNDATION FOR YOUTH MUSIC ANNUAL REPORT AND ACCOUNTS 2021/22 Reporl of the Twstees For Ihe Year Ended 31 March 2022 White {total) Black l Afrlcan I Caribbean I Black British (total) Mixed / multlple ethnic group (total) 67.4% 79.296 14.086 4.61Yo 7.6% 4.6% Youth Music 21122 Asian l Asian Britlsh (total) 6.2% 10.2% Ethnicity (age 0-24- 2011 Census Data Other ethnic group 2.4% 1.3% Ethnlcity- Ethnicity of core participants plotted against national census data for 0-24 year olds (2011 }.0.20kn preferred to self-describe their ethnicty. and 2.2°/ts preferred not to say at point of data collection. Ethnicity data linduding PNTS was collected for 60Yo of core parUcip8nts). Demographlcs - More than 85Yo of YoLrth Music investrn8nl was allocated outside of London £9.762,0051. 8°h of investment (£991.737) was allocated towards programm85 delivering on a national18vel. th•#￿￿b0 -.W•¥iidl•n& VI•IH J nd RUPALLY ISOLATED AT RISK OF OFFENDING SENSOS￿ IMPAI D NEET ICALLV DISJl8LEO MENTAL ILL HEALTH ECONOMIC DEPRIVATION LOOKED AFTER LGBTQ+ Barriers lo participatron YOUNG CARER AnÈND5 PUPIL fiEF&TrRALUt4rr CGA ,Hl°b Aop ELECTRONIC TRAP METAL INDIE SOUL GRIME MC FOLK Genres explored -ROCK. OANcr 10

Docusign En¥ÈlopÈ ID". 6B4257D4-26024B41-867B-1E9429A55024 THE NATIONAL FOUNDATION FOR YOUTH MUSIC ANNUAL REPORT AND ACCOUNTS 2021122 Report of the Trustees For the Year Ended 31 March 2022 What Participants Achloved 20Yo went on to other music activities 4,286 acc￿ditatIonS 7 /0 gained employment 17°/o went into education. training or volunteering 203 young people who took part in a Youth MusSc Incubator Fund project secured woj within the creative industries. Plus- 21 have set up their own business 54 a￿ taking part in educatlon or further training Workforco Worknng for Youth Music funded projects provided paid work and crucial tralning for 3.250 people across Ihe country: 748 in employm8nt 1.787 freelanGers 715 young people 5,188 training opportunilies

Docusign En¥ÈlopÈ ID". 6B4257D4-26024B41-867B-1E9429A55024 THE NATIONAL FOUNDATION FOR YOUTH MUSIC ANNUAL REPORT AND ACCOUNTS 2021 /22 Report of the Trustees For the Year Ended 31 March 2022 How we'r8 dolng Each yèar, we benchmark how we're doing against our funding principles. Very Below poor average Avern8 Above average Excellert Princ￿1# l. We will notwa5te your time. Principle 2. We 4ylll Dryly ask rele¥art questions. Principle 3. We will accept ourshar• Of rtsk. Principle 4. We will •rt with urgency. princip￿ S. We wlll be transparent obout our derisions. Principle 6. We will enab￿YoU ro TeSPCnd flexibly to changing Priorities and needs. PrlncÈple 7. We will be clear about our TelatlOV15hip from the start. Principle 8. We wlll commit to light touch reporting. Prlnciple 9. We will be aC￿sible. Principle 10. We wlll InVo￿e people in our programme design and d*(iSiOn-rKwkin8. 13% 42% 39YJ 105 29b 154b 49# 3541 104 1% 22% 45VJ 103 39b 229b 42% 33Yb 39b 1846 33 103 2% 349b 51h 102 096 43% 389b 103 0¥4 7% 25% 97 2% 25% 389b 369b 104 196 396 21WJ 35¥J 99 'Youlh Music is one of the best funders we have worked with. Approachable should we have any questions. fl8xible (particularly durlng the parKJemic) and open to f99dback and change. Friendly, kn￿9dgeable and supportive staff. Thank you" Stakeholder survey respond8nt Most respondents rale Youth Music as above average or excellenl in all areas of our practice. and most comments in the stakeholder survey were positive. However we've seen a slight decrease in the p8rcentage of 'excellent' responses from last year. One-quarter of people rate Youth Music a5 'average' when it ¢omes to accessibility and light touch reportlng, which will be a focus for us over the next year. Case Study Improvlng wellbeing: In-spire Sounds, Oxford Hamzah's College tutor first told him about In-spire Sounds wh6n she heard him rapping in the hallway. He'd always had a love for hiphop but thought he wasn't the rtght type of person to b6 tsken seriously as a rap artlsl. 12

Docusign En¥ÈlopÈ ID". 6B4257D4-26024B41-867B-1E9429A55024 THE NATIONAL FOUNDATION FOR YOUTH MUSIC ANNIIAL REPORT AND ACCOUNTS 2021122 Report of Ihe Trustees For the Year Ended 31 March 2022 The leam at In-splre Sounds helped Hamzah to find his wnfidence, taught him valuable recording skills and supported him to put togeth8r his first record. The project is run by expert youth workers who are all musicians. They deliver one4C￿neS. group sessions and workshops with 12-2&year- ds experiencing drfficuli circumstances. Kingsley Pratt-Boydan. Dlrector of In-spire Sounds, said- We unite young people but we're also unpacking their traumas and giving them a sense of achievernent through making music. W8 work with young people who are at risk of crirne, exploitstion or have mental health issues. We build them up and support them to make a shtft in their life." Hamzah said.. °If it wasn't for In-splre, I probably wouldn't be breathing right now. This woject has been instrumental in me wanting to keep living.. Case Study Developing skllls: Hastlngs Thrivos The Songseeds prolect in Hastings used songwriting to increase young people's sense of inGlusion and pride, while developing friendships and skills. They provided teacher training for songwriting in iwo primary academies, along with running online sessions as an after-school club. Further online sessions were used to reach home-educated children, with in-person sessions OCGuning when restrictions allowed. Tha Songseèds project benefitted over 200 children and young people and produced 25 songs. Twnkl8 Ansar entered a song they produced into the Song Academy competiiion. Finishing as a lop 10 finalist, Twlnide credf(ed thelr involvement wtth Songseeds as glving them the confidence to enter. 13

Docusign En¥ÈlopÈ ID". 6B4257D4-26024B41-867B-1E9429A55024 THE NATIONAL FOUNDATION FOR YOUTH MUSIC ANNUAL REPORT AND ACCOUNTS 2021122 Report of the Trustees For the Year Ended 31 March 2022 Other young people also spoke about the impact on their Gonfidence. "I thlnk songvrriting is a good way to process emotion and I think songwriting has helped my conf￿￿nCe a lol." Casè Study Learnlng and earning in music: DJ School, Leeds 16-year-old Hary started golng to DJ Club aged 8. enabled by Yolrth Music's long-tem investment in this Loèds-based organisation. In his time there, Harry's leamed the fundamentals of DJing, h to use equipment, and gained vital support and training from experienced tutors. Hary said: "I'm not a very academic person, but wtth DJ School you have to use your hands and I'm alright there. From the momènt I first got on the decks I was excilecl. It's taught mg all th8 tschniques I need lo leam and progress my music.. Most importantly, DJ School has given Hary the confidence to use his skills lo make DJing his career. He's now eaming money through DJing at weddings and partles. has played lo 5.0(J) People at a festival and has a weekly rèsidency at a pub. Harry explaine(l- 'B¢)oklngs are coming in like wildfire and I'm building up my business. Without DJ School I wouldn't be where l am today. Ft's given me a bt of confKlenc6 and It's set me up to rnake DJing rny career." 14

Docusign En¥ÈlopÈ ID". 6B4257D4-26024B41-867B-1E9429A55024 THE NATIONAL FOUNDATION FOR YOUTH MUSIC ANNUAL REPORT AND ACCOUNTS 2021122 Report ol the Truslees For the Year Ended 31 March 2022 Ca$e Study Early years: Thg Premler ArAdemyJ Milton Koynes Earty years practitioners at this Bucknnghamshire project develop specialist skills and confidence to deliver quallty music making experiences for early years. The team particularfy focus on engaging children facing barriers to experiencing music making. They found that small group activities were particulatly helpful when WDMng with musical instruments. °Parenlal feedback was exceptionally positive about the music sessions with many saying how much their child enjoyed the music sessions and sang a lot of th8 songs at home. Some had ieported on them Ix)nsequendy attending musi¢ session outside the sètting and an elder sibling stsrting to leam an instrument as a resutt of the young8r child's enthusiasm for music.- r8POrt frorn Th8 Premier Academy Our hnpa¢t: INFLUENCE 'Youlh MusiG are leading the way in induswe practice and seclor change. while also being ¢)n it with changes 8nd developments in the wider so¢iety. Their changes inspire and energise us to keep evolving and leaming.. Stakeholder SuNey respondent OUTCOME 1: Lead in Oivorslfying In order to influence others to be more diverse and inclusive, w8 need to start wthin our organisation. This year, the ethnicity, 98nder and neurodlversity of our staff and board is more balanced and representative than the previous year, making us better equipped to understand and support the people we work with. Freelancers 70°/0 identify as female or non-binary 22 % from the LBGTQIA+ community 340A of freelancers 8ged 18-24 16% identify as neurodivergent 0 16Yo identify as Disabl8d 18% from the Global Majority Staff te8rn and tnjstees 68°k identify as female or non-binary 230/¢ from the LBGTQIA+ communty

Docusign En¥ÈlopÈ ID". 6B4257D4-26024B41-867B-1E9429A55024 THE NATIONAL FOUNDATION FOR YOUTH MUSIC ANNUAL REPORT AND ACCOUNTS 2021 /22 Report of the Trustees For the Year Ended 31 March 2022 19°k identify as neurodlvergent 0 130/0 idenllfy as Disabled 55¥0 from the Globd Majority In a recent HR review, many staff commented on the positive impact of the gender dlversity training organis8d by our staff Values Committee. Our EDI worklng group led the process lo u date some of the18n ua e we use. We now using the temi 'Global Majority, when we refer to groups of people who are Black, African, Asian, Brown. dual-heritage, indigenous to the global south andlor those who have been racialised as '8thnic minorities.. We have also increased engagement with extemal oxperts of different backgrounds and liv&1 experienc8S, to infomi th8 way we design our funding programmes and make decisions. We'v8 benefitted from a greater diversity of views, skills and lived experiences arKI will continue to devel¢)P this area in the coming year. OUTCOME 2: Calalyse Change in Sector Pra¢tlce8 Exchan in Notes is our leaming programme designed to Spark sustainable. nationwide changes in sector practices. Il's led by experts inside and outside of our community. More than 400 people attended one of twelve workshops over the past year. 25.kn of stakeholder suNey wspondents had joined an Exchanging Notes session. 100% of respondents found the sessions useful. 'Excellent semlnar & very inforniative. I really enjoyed the hi8tory of the fundraising landscap&. Very useful for considering different approaches to fijndraising and have slnce beèn exploring crowdfunding and SkX)nsorshlps opportunities". Exchanging Notes attendee .1 found this $8ssion so invaluable and am already trying to implement some of the Ideas that were discussed in itl" Exchanging Notes attendee °Really helpfvl, well-presented sès$lon which has boosted my Confiden￿ in starting to help make rny organisation more inclusive.. Exchanging Noles attendee Influencing Chango Overall, 790A of respondents felt Youth Music had an above avèrage impact on their organisation. 46% fell that Youth Music had an above average impact on their organisalion's approach to Equallty, Diversity and Inclusion, and 37 /0 on Ihelr organisation's safeguarding practices.

Docusign En¥ÈlopÈ ID". 6B4257D4-26024B41-867B-1E9429A55024 THE NATIONAL FOUNDATION FOR YOUTH MUSIC ANNUAL REPORT AND ACCOUNTS 2021122 Report of the Trustees For the Year Ended 31 March 2022 We supported Youth Music Inc Feople to their trustee board. bator Fund project Young Thugs in the process of adding young Jonny Hooker, Young Thugs Director. said: "Even with the best intentions, we were a group of white, middle-aged men. Our joumey's not yel compl8te, but we've recruited some amazing young peopb8 to key roles including board trustees, sitting at the heart of major organisational de¢isions.° Now haffway through the restructure. the trajectory of the organisation is already stronger, benefiting from a more diverse, creatively rich board of trustees with unique lived experiences. AGGe$sible Funding Our Resha Muslc research explored the experiences of Disabled musicians. A key recommendation was to make the funding process moTe accessible, and to involve Disabled people is blo in deNsion-making. We're Working to raise awareness of this with olher frjnders, and t￿LfOr London Fu ers shares our oume since the rtwas ublished. OUTCOME 3: Close Gap Leamlng to Earnlng Youth Muslc Award5 More than 350 people attended the second Youth Music Awards event at Troxy, London. Wilh industy leading sponsors induding TlkTok, YouTube. Spotrfy. Capitol Records, The Muslcians Union and Marshall. and press coverag8 in Mail Online, Dummy Mag and Evening Standard, the event has established significant credibilty and inftuence. Our t8am included 21 paid Youth Music NextGen creatives working to put on th8 show, with many going on to secur8 full time positions at the likes of Foundation FM, BBC Radio 1Xtra and Boardmasters Festival. Youth Music NextGen Communlty Youth Music Ne tGen is our community for young creatiV8s who aspire to bulld and work In the music industries of the future. It offers exclusrve talent development and job opportunities, industy expertise and grant funding. In 2021, we created 61 paid work opportunities across a varlety of roles. These includ8d paid internships. funding pan81 advisors, co-researchers. content ¢reators. presenters and event runners. We worked with crea￿Ve and Cultural Skills to be a lfjckstsrt provider (creating new jobs for 16 to 24 year olds on Universal Credit), while h81ping 80 organisations in our sector to access the funding.

Docusign En¥ÈlopÈ ID". 6B4257D4-26024B41-867B-1E9429A55024 THE NATIONAL FOUNDATION FOR YOUTH MUSIC ANNUAL REPORT AND ACCOUNTS 2021122 Report of the Trvstees For the Year Ended 31 March 2022 Case Study Increasing dlverslty,. Kaleldoscopo Muslc, Newcastle•upon-Tyne One of the first re￿pientS of the Ywth Muslc Incubator Fund, Kaleidoscope Music's Inlemship Programme enabled six intems lo sel up their own label, find an artist, and release their first singte under mentorship by experienced Kaleidoscope staff. Int8m N8ts1ie recalls.. °We had to lust do it and leam as we went along. I learnt so much.. The programme was the first time some of the intems had been properly paid in creative rolès. 'It maanl I could finally get paid something that would actually really help me out each week,. Natalie said. Kaleidoscope Director Andy explained how Youth Music funding enabled Kaleidoscope to broaden their n8tworks and reach out to people from underrepresented backgrounds.. 'Getting the funding allowed us to strike a gender balance in our team, to work with minority groups who we haven't had a chance to work wrth prgviously." Access to mentors and rol8 models in the muslc Industy Is fundamental to young creatives, leaming. Natalie said= .1 felt very, very heard, and I noticed he IAndy] had been rèally cautioug to make sure it was a representative group.. Future plans Youth Music's 2023-2024 business plan outlines a new set of organIsa￿Onal objectives, responding to the oxtemal environm8nt. This will also enable us to deliver a new National Lottery programme. Following HR and technology reviews last year, Youth Music is implementing new policies and processes across perfomiance management, remuneration, training and development, staff benefts. welfare and working groups. This will ensure we build a sustsinab18 organisational structure thays frt for purpose and a work#YJ cutture that reflect5 our values. In lin8 with our funding principles, we will respond flexibly to the ongoing cost of living crisis.

Docusign En¥ÈlopÈ ID". 6B4257D4-26024B41-867B-1E9429A55024 THE NATIONAL FOUNDATION FOR YOUTH MUSIC ANNUAL REPORT AND ACCOUNTS 2021122 Report of the Trustee$ For the Year Ended 31 March 2022 We'll grow the Youth Music NextGen oommunity through online and in-person evants, fostering more collaboration and brokering me8ningful txogression opportunities with industry partners and through paid roles at Youth Music. 19

Docusign En¥ÈlopÈ ID". 6B4257D4-26024B41-867B-1E9429A55024 THE NATIONAL FOUNDAfioN FOR YOUTH MUSIC ANNUAL REPORT AND ACCOUNTS 2021122 Report of the Trustees For Ihe Year Ended 31 March 2022 PART TWO- GOVERNANCE and ACCOUNTS Structure, governance and rnanagemollt The Board of Trustees meets four times a year. In addltion, the￿ is an Annual Truslee Awayday, which is an opportunily to focus on matters of potential strategic signlficance to infomi future planning. The primary focus of the Board indudes the following: Strategy and Policy, Govemanco. Finan and Operations. Trustee appointment. induction and tralning Trustees are appointed by the Board. and new Trustees receive an induction in order to brref th on their18gal obllgalions and to meet key employees and other Trustees. Trusteès are encouraged Io vi511 Youth Music projects to galn a b6tter und8rstanding of the work of the Charity, and also to atte￿1 relevant trainlng èvenls in order lo maintain and devek)p their knowledge and skills. Detslled admlnistratlon inforniation With a view to focusing on èffective govemanc& and to optimise the sp8cialised skills and areas of expertise of indlvldual Trustees, the Board has éelegated spectfic responsibilities to individual Trustees based on skills and exper¢eriGe. Day-tOHday operational management of the GharFty ha5 been delegated lo the Chief Executive Officer and his team. The Trustèes have a Finance and Audit sub-committee. which also meets three times a year in addition lo the full TTUSt8e meetings, who fulfil their primary responslblltties as follows: To ensl1￿ the adequacy of intemal contrds, review the management of risk within Youth Music, and monitor the relationship with the intemal and extemal audit¢xs. To maintain an overview of thè strategies. policies and operations of YoLrth Music to ensure affective management of the organisation's assets and resources.

Docusign En¥ÈlopÈ ID". 6B4257D4-26024B41-867B-1E9429A55024 THE NATIONAL FOUNDATION FOR YOUTH MUSIC ANNUAL REPORT AND ACCOUNTS 2021122 Report of the Trustee5 For Ihe Year Ended 31 March 2022 Addits'Dnally. Ihe committee has responsibility for HR & Remuneraiion arKI will eonsider and deterniine the remuneration and benefits package of the Chief Executive Officer and the staff. 88 well a5 ensuring that staff polioes. procedures and development plans are in accordan￿ with best practice and that the HR strategy is in accordancA with the Business Plan. The comrnitteè also recommends the formal approval of the Annual Report and Accounts to the Board at the September Trustees meeting. Exe¢utlve team The Senior Leadership Team throughout tho year at Youth Music was: Chlef Executive Officer Matt Gr6ffiths Chief Operating Olficer Programme Director Youth Engagement Ditsctor Angela Linton Carol Reid Daniel Williams The Senior Leadership Team works under Ihe guidance of the Trustees, to whom they are ultimately responsible. The organlsation'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 r8sults against the plans. Through robust management. planning and innovation the leam members design and ft)mulale pollcy for programmes and awards as well as develop and manage the grant applicalion process and subsequ8nt monitoring of grant awards and perfcfmance. This on-going review process helps ensure that the focus remains on the publlc benefit derived from the tunding received. Audltors Each of the current Direclors has taken all the steps that they ought to have taken to mak8 thernselv88 aware of any infomiation needed by the charitable company's auditors for the purposes of their audit and to establish that the auditor5 are aware of that infomiation. The Directors are not aware of any relevant audit information of which the auditors are unaware. 21

Docusign En¥ÈlopÈ ID". 6B4257D4-26024B41-867B-1E9429A55024 THE NATIONAL FOUNDATION FOR YOUTH MUSIC ANNUAL REPORT AND ACCOUNTS 2021122 Report of the Trustees For the Year Ended 31 March 2022 Employment policies Youth Music is an equal opportunities employer and the poI￿leS and procedures applicable lo human resources are kept v￿ler regular review and updat8d in accordan￿ wrth best praclice and chang8s in the laws relating to employment. Pay pollcy for senlor staff Th8 Board of Trustees and the senior leadership team comprise thè key management personnel of the charity in charge of directing and controlling, running and operating the charity (M a day-t¢>day basis. All Trustees giv8 their time freely and no Trustee recelved remuneration in the year. Detals of Trustees, expenses and related party transactions are disclosed in Note 7 to the accounts. Senior staff remuneration is reviewed annually by the Fina￿8 & Audit Committee and CEO. Rosorves Polic In August 2022. the Trustees revi8W8d and ratified Youth Music's Reserve Poli￿. Key features of this pollcy were as follows.. To provide an element of securty and contingency wthin the uncertaln funding environment in which the Charity operates. In the event of such action becoming necessary. lo enable the Charity to restruciure its operations in an orderly and compassionate manner. To fulfil our obllgations to our employees and the Landlord. At the end of 8ach 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 medium4emi financial projections, which are regularfy updated and compared wtth reserves calculated in accordance with this pollcy. The Trustees have considered the appropriate level of free reserves that th8 Charity should hold. They have determined that £1.365m should be retained lo fvlfil our obligations in respect of six months, operating costs. As at 30 September 2022 these reserves tolalled £1.388,278. At the balance sheet date, (f th8re is a reported excess of unrestricted funds, the Trustees will consider a proposal from the Ex8cutive Team as to the use of the excess in accordan￿ wth th8 Chariws objectives. Unrestrlcted Reserves As set out in Not8 18 to the financial statements, Youth Music received £3,125.000 from Poople's Postcode Lottery (PPL) during the year. In consultation with PPL, the funds received each year are designated for granting Out and operating costs in either the current or future periods. This forms 22

Docusign En¥ÈlopÈ ID". 6B4257D4-26024B41-867B-1E9429A55024 THE NATIONAL FOUNDATION FOR YOUTH MUSIC ANNUAL REPORT AND ACCOUNTS 2021122 Report of the Trustees For Ihe Year Ended 31 March 2022 the basis of our partnership arrangement and the Trustees are therefore showing these fundg as separately designated funds. The timing of recelpt of these funds meant that as at 31 March 2022 a significant amount of the funds received had not been committed and Ihus are duly designated. Dèslgnated Reserves As al 31 March 2021 Youth Music had designated reserves of £1,679,028. This comprised two funds.. £11,889 in respect of the Capital fund repr8sented by the book value of fixed assèts., and £1,667.139 in respect of the PPL funding element. Other unrestricted reserves The remaining unrestricted reserves amount to £1,388,278 against a target level of £1.38 million. The Trustees will ￿VIeW the minlmum level of free reseNes and the use of excess funds annually in the light of Ihe risks identified, notably achieving a diversification of income and the long-terrn secunty of th8 Arts Council England funding and People's Postcode Lottery grant. Stratsgic Report Achievemènts and perfomian¢o For dètails of the 8chieveTnents and performance of Ihe Charity in the year, please refer to the 2021122 overview provided on pages 5-18. Key pgrfonnance Indlcators IKPls} The Trustees regularly monitor the progress of the Charity by refer8nce to both financial and non- financial KPIS, which hav8 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 2021122 overview provided on pages 5-18 and the financial revièw below. Financial rèvlew Totsl inwme recognised during the year amount8d to £13.354,079 (2021.. £13,205,330). This includes full recognition of approved grants receivable relating lo the accountin9 period. Core lottery-funded income from ACE was £9.651,000 for the year 12021.. £9,651.000). The percentage of ACE income granted out to benefiaary organisations was 92 % {2021: 920A), in line with the fjJnding agreement. People's Postcode Lottery {PPL) provided fundin9 of £3,125,000 12021.. £2,683,255). other income comprising donatlons. grants, and investment income totalled £578,079 (2021: £871,075) Expenditure for the year amounted to £14.391,92712019'. £12.753,630} of which 98.10 {2021: 98Yo) was spent on charitable activities and 20k (2021: 20/0) to generate voluntary income. Grants of

Docusign En¥ÈlopÈ ID". 6B4257D4-26024B41-867B-1E9429A55024 THE NATIONAL FOUNDATION FOR YOUTH MUSIC ANNUAL REPORT AND ACCOUNTS 2021122 Report of Ihe Trustees For the Year Ended 31 March 2022 £233,54912021.. £75,158} 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 £204.359 on restricted funds at the year-erbd (2021: £119,573). The daficit of income against expenditure on unrestricted funds, amounting to -£1,122,634 (2021.. - £518.7091, has been deducted to unrestricted reserves. as shown in Note O to the finanaal statements. As a result. reserves of £3,271,667 {2021". £4,309.5151 were carrted forward at 31 March 2022, of which £204,35912020'. £119,573) rolated to restricted funds. Fundraising Youth Music is registered with the Fundraising Reg￿latOr and our small fundraising team seek lo comply wth all the relevant standards set out in the Code of Fundraising Practi￿. There has been no Outsou￿ed fundraising via professional fundraisers or other third partie5. Our website hosts our Fundraising Promise which oulines our commitment to vulnerable people and the wider public and our Complaints Policy, both of which are accessible to download. We receivèd no CA)mplainls in th8 year {2021.' no ￿MplaIntS). Plans for future periods For details of future plans and developments, please refer to Ihe relevant section on page 18. Principal rfsks and uncertalntlos Youth Music has developed processes lo identify potential risks and uncertainties which coukl adversely impact the achievement of ils strategic objectives andlor its operational perfomian¢e. Current key strategic Tisks, and st8ps to mitigate against them as identified by the Board. include.. 1. Loss of slgnlflcant p¢>rtion of Arts Councll England and People's Postcode Lottery fundlng. Arts Council England have invited us to submit our Business Plan and supportir documents for funding at Ihe CUTf8nt level of £9.65m per year for the period April 2023 10 March 2026. We are the only organisation invited lo submit for the grant and will know the outcome mid-November 2022. People's Postcode Lottery have invtted us to apply for an unrestricted grant of £2.5m, the outcome ofwhith will be known early December 2022. 2. Dlverslfi¢atlon of incomè. We are committed to further diversifying our sources and levels of income and will build our commercial partnerships, lo leverage cash and in-kind funding to provide progression opportunities for our funded partners and indwiduals. 3. Safeguarding. We are committed to establishing a positive safeguarding culture to protect our team from harm. the organisation from reputational damage. and to rninimise ary impact on stakeholder relationships and in particular our relationship with our funders. We continue lo adopt the practices outlined within our safeguarding policy 2021, an(f in 2022 w8 became a member of the Funders Safeguarding Collaborative whom we have engaged lo 24

Docusign En¥ÈlopÈ ID". 6B4257D4-26024B41-867B-1E9429A55024 THE NATIONAL FOUNDATION FOR YOUTH MUSIC ANNUAL REPORT AND ACCOUNTS 2021122 Report of the Trustees For the Year Ended 31 March 2022 provide awareness training and assist us to review our policy & practices in light of new funding programmes for 18-25yr olds. 4. Cyber securlty. We work in liaison with our IT experts who assisl us to navigate the attempts to disrupt our operations. We are alert to potential fraudulent approaches which could result in loss of sensitive data. diminish our finanGes and or our reputstion and have practi￿$ in place to assist us to mitigate agalnst attacks. S. Slgnifi¢anl change to our flagship funding programme. We are mindful that there could be a negative receplion to our new busine55 plan strategy and will work with ACE colleagues lo ensure transparency in relation lo our future streams. The Roport of the Trusteès and Strategic Report w•r• slgned on behalf of the Board. 25

Docusign En¥ÈlopÈ ID". 6B4257D4-26024B41-867B-1E9429A55024 THE NATIONAL FOUNDATION FOR YOUTH MUSIC ANNUAL REPORT AND ACCOUNTS 2021122 Stalement of Tru5tees' Respon51bllltles Statement of Trustèes, Responsibilities The Trustees, who are also directors of the charitable company, are responsible for preparing thelr 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 stalemenls in acwrdance with United Kingdom Generally Accepted Accounting Practice (United Kingdorn Accounting Standards and applicabte law). The financial statements are required by law to give 8 true and fair view of the stste of the affairs of the charitsble 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 8ccounling policies and apply them consistenuy Observe methcmjs and principles in the CharitEs SORP Make judgements and estimates that are reasonable and prudent State whether appli¢abl8 accounting standards hav8 b88n followed, subject to any matenal departures disdosed and explained in the financial statements Prepare the financial statements on the going concem basis unless it Is Inapproprlate lo assume that the charitable company will continue in operation. Thè Trustees ar8 also responsible for k88ping proper accounting records that disclose with reasonable accuracy at any time the financial position of the ¢harilable company and enable them lo ensure Ihat the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitsble company and hence for taking reasonable steps for the prèvention and del8Ction of fraud and other irregularitiès. 26

Docusign En¥ÈlopÈ ID". 6B4257D4-26024B41-867B-1E9429A55024 THE NATIONAL FOUNDATION FOR YoiJfH MUSIC ANNUAL REPORT AND ACCOUNTS 2021122 Slatement of Trustees, Responslbllltles Statement of disclosure lo the auditors So far as the Trustees are aware.. 181 the￿ is no relevant audit infom)alion of thich the Company's auditors are unaware, and Ibl they have tak8n all the steps that they ought to have taken as Trustees in order to make Ih8mselves aware of any relevant audit infomatton and lo establish that Ihe Company's auditors are 8ware of that infomiation. Appmved by the Trustees on . 13/q/ . 2022 and signed on their behalf by: Do¢uSbJn•dtsy'. 1055 YolanDa Brown Sam Ross Chair of Trustees Chair, Flnance and Audit Commlttee 27

Docusign En¥ÈlopÈ ID". 6B4257D4-26024B41-867B-1E9429A55024 THE NATIONAL FOUNDATION FOR YOUTH MUSIC ANNUAL REPORT AND ACCOUNTS 2021122 INDEPENDENT AUDITOR'S REPORTTO THE MEMBERS OF NATIONAL FOUNDATION FOR YOUTH MUSIC for Ihe Year Ended 31 March 2022 Oplnion We have audited the financial statements of The National Foundation for Youlh Music for the year ended 31 March 2022 which comprise the Slatemont of Financial Activities, the 8alan¢e Sheet, Statement of Cash Ftow and the related notes to the finanoal statements, including a SLFmmary of significant accounting wlicies. Tho financial reporting framework that has been applied in their proparation is applicable law and United Kingdom Accounting Siandards. including Financial Reporting Standard 102 Th8 Finan￿81 Reporting Standard applicable in the UK and R8public of Ireland (Unfted Kingdorn Generally Accepted ACCOUn￿ng PractiGel. In our opinion. the financial statements.. giv8 a true and fair view of the state of the charltable companls affairs as at 31 March 2022 and of the charttable company's net movement in funds, including th8 income and expenditure, for the year then ended., hav8 been propedy prepared in accordance With Unitèd Klngdom Generally Accepted AccountSng PractiC8,' and h8ve been prepared in accor(lance with the requirements of the Companies Act 2006. Basis for oplnion We conducted our audtt in accordance with Int8rnational Standards on Auditing (UK) (ISAS (UK)) and appllcable law. Our responsibilittes under those standards are further descrtbgd in the AudStor's resF)onsibilities for the audit of the financlal ststements s6Ction of our report. We are indep8ndent of the tharity in accordance wlth the elhical requirements that are relevant to our audit of the financial statements in tha UK. induding the FRC'S Elhical Standard, and we have fU￿1]I8d our othor elhirAI r•sponsibilFties in accordance with these requlrements. We beliave thal the audit evidence we have obtalned is sufficient and appropriate lo provide a basis for our opinion. Concluslons rolatlng to going concern In auditing the flnancial statements, we have concluded that the trustees, use of the going concem basis of accounting in the preparation of the financial statements 15 appropri81e. Based on the work we have performed, we have not identified any maierial unc8rtainlies relating lo events or ¢onditions that, individually or collectively, may cast Significant doubt on th9 charitable companys ability lo continue as a going concem for a perlod of at least ￿e1ve months from wh8n

Docusign En¥ÈlopÈ ID". 6B4257D4-26024B41-867B-1E9429A55024 THE NATIONAL FOUNDATION FOR YOUTH MUSIC ANNUAL REPORT AND ACCOUNTS 2021122 INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF NATIONAL FOUNDATION FOR YOUTH MUSIC for Ihe Year Ended 31 March 2022 the financial statemetrts are authorised for issue. Our responsibilities and the responsibilities of th8 Irustees with respect to going concem are described in the relevant sections of this report. Olhor Inforniatlon The trustees are responsible for the other infoffnation. The other information comprises the information induded in th8 Trustees, Annual Report. Our opinion on the financial Statements does not cover the olher infomation and. except to Ihe exient otherwise explicitly stated in our ret)ort, we do not express any form of assurance condusion thereon. In connectien with our audft of the financial statements, our responsibility is to read the other Infomiation and, in doing $0, consider whether the other infomiation is materfally inconsistent with the financial ststements or our knowledge obtained in the audf( or otheTwse appears to be materially misstaled. If we identify such material inconsistencies or apparent material misstatements, we are required to detemiine whether there is a rnat8rial misststement in the finan¢ial statements or a material misstatement of the other infomiatlon. If. based on the work we have perfornied. we conclude that therè is a material misstatement of this other information. we a required to report that fact. We have nothing to report In Ihis regard. Opinions on other matters prescrlbed by the Companios Act 2006 In our opinion. based on the work undertaken in the course of the audit: the inform8tlon given in th8 Trustees. Annual Report (which indudes 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 the financial statements. and the strategic report and the director8, report indudgd WIth￿n the Trustees, Annual Report have been prepared in a(xordan￿ with appliGable legal requiremen Matters on whlch we are required to rèport by oxceptlon In the light of the knowledge and understanding of the charitable company and it5 environment obtauied in the course of the audit, we have not identified material misstatements in the Trustees. Annual Report (which incorw)rates the strategic repKSrt and the dlrectors, report). 29

Docusign En¥ÈlopÈ ID". 6B4257D4-26024B41-867B-1E9429A55024 THE NATIONAL FOUNDATION FOR YOUTH MUSIC ANNUAL REPORT AND ACCOUNTS 2021122 INDEPENDENT AUDrroR'S REPORTTO THE MEMBERS OF NATIONAL FOUNDATION FOR YOUTH MUSIC for the Year Ended 31 March 2022 We have nothing to report in resped of Ihe followlng matters in relation to which the Companies Act 2006 requires us to report lo you if, in our opinion: adequ8te accounting records have not been kept by the charitable company, or retums adequate for our audit have not been re¢eiv8d from branches nol visited by us: or tho charitabl8 company finandal stalements are not in agreement with the accounting records and retums., or certain disclosures of trustees, remuneration specified by law are not made; or we have not received all the infomiation and explanations we require for our audil. Responslblllties of trnstees for the financ￿1 slatements As explained more fully in the trustees, reSponsib￿ltieS stalemenl set out on page 26. the trustees (who are also the directors of the tharitable company for the purposes of company law) ar8 rèsponsible for the preParat￿n of the financial ststements and for being satisfied that they give a true and fair vi￿, and such intemal control as the trustee5 detennine is necessary to enable the prepar8ts.on of financial slat8ments that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, th8 trustees are responsible for assessing the charitable company's ability to continue as a going concern, disclosing, as applicable, matters related to going concem and using the going concem basis of accounting unless the trust885 either intend to liquidate the charitabl8 company or to cease operat¢ons, or have no realistic altemative but to do Auditorfs responslbllltles for the audit of the financial statements Our objectives are to obtain reasonable assurance about whether the financial statements as a whole arg free from material misstatement, whether due to fraud or error, and lo issue an auditols 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 ahvays detect a mater￿1 misstatement when it exists. Misstatements can arisg from fraud or error and ar6 considered material rf, individually or In the aggregate. thgy could reasonably be exp8cted to influence the economic decisions of users laken on the basls of these financial statemenls. Irregularities, including fraud, are instanc8s of non-compliance with laws arMJ regulations. We design procedures in line with our responsibilities, ouuined above, to delect material misstatements 30

Docusign En¥ÈlopÈ ID". 6B4257D4-26024B41-867B-1E9429A55024 THE NATIONAL FOUNDATION FOR YOUTH MUSIC ANNUAL REPORT AND ACCOUNTS 2021122 INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF NATIONAL FOUNDATION FOR YOUTH MUSIC for the Year Ended 31 March 2022 in respect of irregularities, induding traud. The exlent lo which our procedures are capable of detecting irregularities. including fraud is detailed below= Based on our underslanding of the charitable company and the environment in which it operates, we Klentified that the principal risks of non-compliance with laws and regulations related to the rec(yJnition requirements of grant income and grant expenditure. and we ￿nsidered the exient to whith non-compliance might hav8 a material effect on the financial slatements. We also considered thos8 laws and wulations that have 8 direct impact on the preparation of the finenci81 statements such as the Companies Act 2006, the Charities Act 2011, and payroll tax. We evaluated management's incentiv6s and opportunitles for fraudulent manlpulallon of the finanaal statements {including the risk of override of conlrols), and delemined that the principal risks were related to posting inapproprtate joumal entries to revenue, management bias in accounting estimates. and noTrcompliance wlth controls for grant making ath'vities. Audit procedures perfomied by the engagement team induded: Inspecting correspondence with regulators and tax authorities. Discussions with management including consideration of kr￿wn or suspected instances of rKJn-complianc8 with laws and régulation and fraud; Evaluating management's controls designed lo prevent and detect irregularities; Evaluating the controls in place over grant making adivities. Identifying and testing journals, in particular joumal entries posted with unusual account combinations, poslings by unusual users or wth unusual descriptions,. and Challenging assumptions and judgements made by management in their critical accounting estimates. Because of the inherent limitations of an audit, there is a risk that we will not d8tect all irregularities, including those leading to a material misstatement in the finan￿al statements or nonryfA)mpliance with regulation. This rtsk inGreases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we wll be less likely to become 8W8re of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intenlional concealment. forgery, collugon, omission or misrepresentation. 31

Docusign En¥ÈlopÈ ID". 6B4257D4-26024B41-867B-1E9429A55024 THE NATIONAL FOUNDATION FOR YOUTH MUSIC ANNUAL REPORT AND ACCOUNTS 2021 /22 INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF NATIONAL FOUNDATION FOR YOUTH MUSIC for the Year Ended 31 Morch 2022 A further description of our resp)nsibilities for the audFt of the financi81 statomenls is located on the Financial Reporting Council's website at: www.frc. .uklauditorsres onsibilities. This descri￿.On foms part of our auditor's report. Use of our report This report is made solely to the tharitable company's members, as a body, in ac(%Jrdan¢e wth Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charilable CoMpan￿S members those matters we are required to slate to them Sn an Audito¢$ report and for no other purpose. To the fu118St extent parmitted by law, we do Th)t accept or assumo responsibility to anyone other than the Gharftable company and th8 charttable comp8nys members, as a body. for our aLKlit work. for this reporL or for the opini¢Ms we have formed. . 2022 Jane Askew (Senlor Statutory ALFditor} For and on behalf of Haysmacintyre LLP, Statutory Auditors 10 Queen Street Place London EC4R 1AG 32

Docusign En¥ÈlopÈ ID". 6B4257D4-26024B41-867B-1E9429A55024 THE NATIONAL FOUNDATION FOR YOUTH MUSIC ANNLIAL REPORT AND ACCOUNTS 2021122 statement of Financial Acllvllle$ (Incorporallng the Income and Expendllvre Accovnl) for Ihe Year Ended 31 March 2022 Note Unrestrictéd Re5tri¢ted funds funds Total 2022 Tolal 2021 Income InGome from.. Donalions 3.369,634 9.979,500 13,349.134 13.186,951 Investments 4,945 4.945 18,379 Tolal in¢ome 3,374,579 9,979.500 13,354,079 13,205,330 Expenditure Expenditure on." Raising funds 207,809 25.000 232,809 226,845 Charitable activiti8s 4,289 404 9,869,714 14,159 118 12,526.785 Totsl Expenditure 4,497,213 9,894,714 14,391,927 12.753,630 Net Income l {axpendlturo) (1,122.634) 84,786 (1,037.848) 451.700 Net movement in funds (1.122.634) 84,786 (1.03T.848) 451,700 Fund balances brought fon¥ard at l AprS12021 4 189 942 119573 4,309 $15 3,857,815 Fund balances carrlod forward at 31 March 2022 14,1S 3 067.308 204,359 3 271667 4 309515 The statem8nt of financial activities indudes all gains and105ses recognised in the year. All income and expenditure derive from continuing aclivities. The notes on pages 33 to 49 fomi part of thes8 financial stalements. 33

Docusign En¥ÈlopÈ ID". 6B4257D4-26024B41-867B-1E9429A55024 THE NATIONAL FOUNDATION FOR YOUTH MUSIC ANNUAL REPORT AND ACCOLINTS 2021122 Balance Sheet as at 31 March 2022 {Reglslered Company No. 03750674) Note 2022 2021 Flxed assets Tangible fixed assets 11.889 11,700 Current assets Debtors Cash at bank 10 170,967 14,688,123 228,578 14,398,876 14,859,090 14,627.454 Creditors- amounts falling due within one year 11 (7,900,042) {7,696,787) Not current assets 6 959.049 6,930.667 T¢)tal assets less current Ilabllitles 6,970,937 6,942.367 Creditors: amounts falling due after one year 12 (3,699,270) 12.632.852} Net assats 3,271.667 4.309.515 Funds ReslriGted fvnds 204.359 119.573 14 UnrestriL#ed funds D85ignat8d funds General funds 15 16 1,679.028 1.388,280 3,168,372 1,021,570 3.271.667 4,309,515 The accounts were approved by the Trustees, authorlsed for Issue and slgned on the Board's beha￿ by YolanDa 8rown Chair f Trustees Sam Ross .inance and Audit Committee ss AYE694kk9/2022 DATE 1319/IL The notes on pages 33 to 49 fomi part of these financial statements 34

Docusign En¥ÈlopÈ ID". 6B4257D4-26024B41-867B-1E9429A55024 THE NATIONAL FOUNDATION FOR YOUTH MUSIC ANNUAL REPORT AND ACCOUNIS 2021122 Statement of Cash Flows for the Year Ended 31 March 2022 Note 2022 2021 Cash provided by operating activities 292.354 2.089,063 Cash flows from investing actlvlties (Purchas8} of tangible fixed assets Interest received 10 (8,052) 18,379 Cash provided by Investlng a￿1vItIeS {3,107) 18,379 Chanye In ¢a$h and ¢a$h equlval¢nt$ durlng the year 289,247 2,107,442 Cash and cash equivalents at the start of the year 14,398,876 12,291,434 Cash and cash equivalents at the end of the year 14,688,123 14,398.878 Reconciliation of net income to net cash flow from operating activities Ngt rnovgmènt in fvnds (1,037.848) 451,700 Adjustments for D8pre¢iation of tangible assets Irbtere5t recewed (Increase) I decrease in debtors Increase in cred?tors 7,863 (4,945) 57,611 1269 673 8.757 118.379> (117,6751 1,766,660 Not ￿$h general8d from operating activities 292,354 2.089,063 The notes on pages 33 to 49 fomi part of Ihese financial statements. 35

Docusign En¥ÈlopÈ ID". 6B4257D4-26024B41-867B-1E9429A55024 THE NATIONAL FOUNDATION FOR YOUTH MUSIC ANNUAL REPORT AND ACCOUNTS 2021/22 Note5 to the aceovnts lor the Year Ended 31 March 2022 1. A¢countlng pollcios Basis of accounting The fi'nancial ststements hav6 been pr6pared In accordan￿ with Accounting and Reporting by Charities.. Statgmenl of Recommended Pracbce applicabl8 to charities preparing their accounts in accordance with the Financial Reporting Slandard applicablo in the UK and Republic of Ireland (FRS 102) - (Charities SORP 2015 [Se￿nd Edition, effective 1 January 2020). the Finanaal ReFthing Standard applicable in the UK and Republic of Ireland (FRS 1021 and the Companies Act 2006. The National Foundation tor Youth Music meets the dsfmition of a public benefit entty under FRS702. Assets and liabilities are inttially recognised at historical cost or transaction value unless otherwise slated in Ihe relevant accounting FK)licy notes. In the view of the Trustees in applying the accounting ptslicies adopted. no judgements ￿re required that have a signifiGant effect on the amount5 recognised in the financial statements nor do any estimates or assumptions made cary a signifi'cant risk of material adjustment in the next financ¥al year. Prsparatlon ofaccount8 on a ￿ng wncem basis The Trustees have assessed whether the use of the going concem basis is appropriate and have considered possible events or conditlons that might cast significant doubt on the ability of the charity to continue as a goin9 concem. The Trustees have made this assessment f period of at least one year from the date of approval of the financial staternents. In particular the Trustees have considered the charity'5 forecasts and projections. After making enquiries the Trustees have concluded that there is a reasonable expectation that the charity has adequate resources to continug in operational 8XiStene£ for the fores8eable future. The charity therefore continues lo ath)pt th@ going concern basis in proparing its financial statem&nts. InGome 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 basi8 of the value of the g to the charity where it 15 practical to obtain such 8 value. Lottery incom8'. Youth Music reG6ived proceed5 of lotteries held by People's Postcode Lottery IPPL). Youth Music has no abilty lo aller the price of tickets. detemine the prize or reduce th8 management fee that is deducted from the net prO￿edS 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 finanual activities. The analysis of the proceeds is detsiled in note 19. Grant incom8 Grants awarded to Youth Musrc during the year are rècognised when ther8 is sufficie evidence as lo the entitlem8nt of income, there is probable future receipt and amounts receivable are measurable. 36

Docusign En¥ÈlopÈ ID". 6B4257D4-26024B41-867B-1E9429A55024 THE NATIONAL FOUNDATION FOR YOUIH MUSIC ANNUAL REPORT AND ACCOUNTS 2021122 Nole5 to the accounts lor the Year Ended 31 March 2022 1. Accountlng pollGios (continued Expenditu All expenditure is accounted for gross, induding VAT where applicable, as and when incurred. Exp8nditur8 which related directly to Youth Music's char'rtable objectlves are analysed be￿een the following activittes: Programmes Direct costs Capacity buildirvJ Included in these costs are grants payable. Programmes run for between six months and three y8ar5 {see note 5). Direct costs compris8 grant support Costs. Including direct labour, material and other cosls relating directly to chariLqble adivities. The costs of raisiThJ funds represent the costs of securing donations and fundraising events. Staff and support costs (including govemance costs) relabng to rnore than one activtty have been allocated to activsties on a basls 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 leas8 term. The value of any lease incentive received to take t)n an operating lease (for example, rent-frèe periods) is recognised as other creditors and is released over the lrfe of the lease. Pension cosls Contributions to staff pergonal pension schemes are charged in the year in which they beGome payable. Tangible fixed assets Tangible fixed assets are included at net book value. Depreciation Depreciation is provided to write off the (y)st, les3 estimated residual values, of 811 tanglble rrxed assets, over their axpected useful lives. It is calculated at the following rates: Electroni¢ equipment- 25¢/0 Computer equiprnent- 250/0 Fitlings and equipment- 25010 Assets below a cost of £1.000 are not capitslised. 37

Docusign En¥ÈlopÈ ID". 6B4257D4-26024B41-867B-1E9429A55024 THE NATIONAL FOUNDATION FOR YOUTH MUSIC ANNUAL REPORT AND ACCOUNTS 2021122 Notes to Ihe accounts for Ihe Year Ended 31 March 2022 1. Accountlng policies (continued) Grant commitments Grants payabl• are payments made to third parties in furtheran￿ of the charitable obj'ectives 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 delem7ined with certainty that the recipient will meet these ¢ondttions. If at the balance sheet date it is known that any grant liabiltty will not be fijlly claim8d. the liabilty Is correded to reflect the true extent Df the likely claim. Funds Unrestricted funds are availab16 for use at Ihe discretion of the Trustees in furth8rance of the general objectives of the charity. Designated funds are unrestricted funds that have been set aside at the discretion of the Trustee5 for a specific purpose. Restricted funds are to be used in accordance with specific restrfctions imposed by the donor or grantor. Accounting judgements and estimat&s The key judgements arKI estimates used in the preparation of these Finan￿al Slatements are as follows: The deprociation rate of tsngible fixed assets {as detalled above) Support costs are apportioned to direct activities based on the direot staff costs allocated to those activities There are no other key assurnptions conceming the future and other k8y sources of estimation uncertainty at the reporting date that have a signfficanl risk of causing a material adjustment lo the carrying amourrts of assets and liabilities within the next fin8naal year. 2. Donations 2022 2021 Unrestrlcted People's Postcode Lottery (note 18) Baskin Foundation Levi's Music Partnership Turtle Bay Cectl Pilkington YouTube Google Marshall Amplification plc London Communily Foundation PayPal Givlng Fund Other 3,125,000 21.466 50,000 30.000 6,000 2,683,254 14,500 14,394 13,000 6.000 4,000 3.500 19,059 114.609 77,470 3,369,634 2,812,618

Docusign En¥ÈlopÈ ID". 6B4257D4-26024B41-867B-1E9429A55024 THE NATIONAL FOUNDATION FOR YOUTH MUSIC ANNUAL REPORT AND ACCOUNTS 2021122 Notes to the accounts tor the Year Ended 31 March 2022 2. DonatSons {continued) Restricted ACE YouTube Atherton Family Trust Googlè Achemy Foundation TikTok 9,651,000 10,151,OOQ 57,573 53.760 52,000 50,000 10,000 25,000 303,500 9.979 500 9,697 334 Total Donations 13,349.134 13,186,951 3. Cost of ralslng funds Allt)caled Cost5 (note 6) Current Year DiTO¢t costs Total 2022 Total 2021 Cost of ralsing funds 159.232 73.577 232,809 302,797 Allocated costs (note 6 Prior Year Dire costs Total 2021 Total 2020 Cost of raising funds 207,279 95,517 302,797 226,845 39

Docusign En¥ÈlopÈ ID". 6B4257D4-26024B41-867B-1E9429A55024 THE NATIONAI FOUNDATION FOR YOUTH MUSIC ANNUAL REPORT AND ACCOiINTS 2021122 Noles to the accounts fow the Year Ended 31 March 2022 4. Cost of charitablo activifjes Grants awarded & programmes costs Current Year Other Allocated dlre¢t Costs Costs (note 6) Total 2022 Total 2021 Programmes 12,533,091 1,052,573 371,058 13,956,722 12,310,097 Addttional Charitsbl8 Programm8 Infrastructure 143,275 59.121 202,396 216.688 Total 12,533,091 1,195,848 430,179 14,159,118 12.526,785 Grants awarded & programmes costs Prior Year other Allocated dlrect Costs costs (note 6) Total 2021 Total 2020 Programmes 11,089,209 854,248 366.640 12,310.097 11.089,209 Additional Charitable Programme Infrastructure 154.703 81.985 216,688 Total 11.089,209 1,008,951 428,625 12,526,785 9.886,303 In some cases grant recipients do not always claim thelr awards in full and in those cases the amounts are written back into the funding pot and granted out at the next funding round.

Docusign En¥ÈlopÈ ID". 6B4257D4-26024B41-867B-1E9429A55024 THE NATIONAL FOUNDATION FOR YOUTH MUSIC ANNUAL REPORT AND ACCOUNTS 2021122 Notes to the accounts for the Year Ended 31 March 2022 S. Allocated support costs Programmo$ Dlrect inltiatlves Cost of raislng funds Total 2022 Total 2021 Curront Year Governance Staff Costs Audit Other 24.848 10.607 443 3,959 1.690 71 4,927 2,103 88 33,734 14,400 602 30,436 16.300 290 other support Staff costs External relations Consultants and temporary slaff C8ntral ¢)ffic8 82,773 695 13,188 111 16,413 138 112.374 944 137.963 375 16,872 234,820 2,688 37,414 3,346 46,562 22,906 318,796 14,710 306,200 Tolal 371,058 59,121 73,577 503,756 506,275 Programmes Direct initiatives Cost of raisln9 funds Total 2021 Total 2020 Prlor Year Govemanc8 Staff costs Audit Olher 22,042 11,804 210 3,726 1,996 36 4,668 2.500 30,436 16,300 290 31,030 12,720 Other support staff costs External relations Consultants and temporary staff Central office 99.912 272 16,891 46 21,160 58 137,963 375 98.730 185 10,653 221,747 1,801 37,489 2,256 46,964 14.710 306,200 29,912 301,491 Total 366.640 61,985 506,275 474,916 Staff. support and govemance costs including costs associated with IT, HR, financ8, propety and other central services have been allocated to activities on the basis of staff time spent on activities. The total of £503,698 {2021 £506,275) 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 incu￿ed In the govemance of the charity and its assets and are primar51y associated with constitutional and statutory requirements.

Docusign En¥ÈlopÈ ID". 6B4257D4-26024B41-867B-1E9429A55024 THE NATIONAL FOUNDATION FOR YOUTH MUSIC ANNUAL REPORT AND ACCOUNTS 2021/22 Notes lo the accounts for the Year Ended 31 March 2022 6. Grants payablè and grant liablllties 2022 2021 Grants approved to third parb'es Grants approved to individuals Grants not utilised by recipients, written back 12,522,596 95,691 11,095.031 75,158 Nel grant expenditure for the year 12,384,738 11.019,873 Grants approved but unpaid at 1 A￿11 10.146,166 8,367,822 Paymenls made to grant r8CIPl8nts during the year 11.088 219 9 241,529 Grants approved but unpaid at 31 March 11,442,685 10,146,166 Youth Music make grants to InstitLrtions and individuals. Grants approved are paid out in instalments during the period of the programme of 8clivity to which the grant relates. If, following cornpletion or closure of a programme, any part of the grant remains undaimed. then this is nomally written back against grant expenditure and granted out 8t Ihe next funding round. The grant liability at any point In tfme represents the nel grants approved but unpaid at that time. A schedule showing a complete list of all grants made during the year is attached at the end of th8s8 financial statemgnts as Appendix A. 7. Employ00 omolurnents 2022 2021 Total emoluments - Wages Employerfs National Insuran Pension contributions 929,950 92.493 75.328 875,720 87,302 69,054 1,097,771 1,032,075 Other staff costs (indudlng staff insurance} 45.837 23,222 1,143,608 1,055,297 42

Docusign En¥ÈlopÈ ID". 6B4257D4-26024B41-867B-1E9429A55024 THE NATIONAL FOUNDATION FOR YOUTH MUSIC ANNUAL REPORT AND ACCOUNTS 2021122 Notes to the accounts for Ihe Year Ended 31 March 2022 7, Employee emoluments {contlnued) 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 headcounl during the year 27 23 Number of employoos (FfE) 2022 2021 Fundraislng Communications Support Programrnes staff 17.7 14.7 25.8 23.2 Two Trustees (Nath￿a Jordan and Freddie Aitken) were remunerated £400 for consultancy wort( In relation to the Recharge Fund during the year. During the year no (2021: noné) Trustees received £nil (2021: £nil) for expenses consisting of reimbursement of costs incurred attending truste6 meetings. Key management personnel include the senior manag8ment team. The totsl 8mployee benefits of the charity's key management personn81. induding employer's NIC, were £319,407 12021: £306,864). 8. Net Income for the year 2022 2021 This 1$ stated aftor charging: Oper8ting leases- land and buildings Depreciation Audit fees (nel of VAT) 92,050 7.863 12,000 92.050 6.757 12,083

Docusign En¥ÈlopÈ ID". 6B4257D4-26024B41-867B-1E9429A55024 THE NATIONAL FOUNDATION FOR YOUTH MUSIC ANNUAL REPORT AND ACCOUNTS 2021 /22 Notes to the accounls for the Year Ended 31 March 2022 Tangible fixod assets Fixture$ and Fitttngs Databa$0 Computsr Total Elactronlc equlpment Cost As at 1 April 2021 Additions 73,209 27,804 145.826 8.052 246,839 8,052 At 31 March 2022 73,209 27.804 153,878 254,891 Accumulated depreciation As at 1 April 2021 Charge for the year 73,209 27,804 134,126 7863 235,139 7,863 At 31 March 2022 73,209 27,804 141,989 243,002 Net book value At 31 March 2022 11,889 11,889 At 31 March 2021 11,700 11,700 10. Dobtors 2022 2021 Other debtors Prepayments 134,246 36,721 131,694 96.884 170,967 228,578 44

Docusign En¥ÈlopÈ ID". 6B4257D4-26024B41-867B-1E9429A55024 THE NATIONAL FOUNDATION FOR YOUTH MUSIC ANNUAL REPORT AND ACCOUNTS 2021122 Notes to the accounts lor the Year Ended 31 March 2022 11. Credltors: amounts falling due withln one year 2022 2021 Trade creditors Taxation and social S8Gurity Accruals Grants outstanding other creditors 53,750 28.007 52,550 7,743,41 S 22,320 78,838 27,855 63,366 7,513,314 13,414 7,900.042 7,696,787 12. Credltors: amounts falllng duo after one yèar 2022 2021 Grants outstanding 3,699,270 2.632.852 3,699,270 2,632,852 Creditors falling due after one year conslst of grant liabilities in respect of projects that are planned to run past March 2023 into later financial p8riods, i.e. Youth Music confirmed grants, wh￿h cover a period of more than one financial year. 45

Docusign En¥ÈlopÈ ID". 6B4257D4-26024B41-867B-1E9429A55024 THE NATIONAL FOUNDATION FOR YOUTH MUSIC ANNVAL REPORT AND ACCOUNTS 2021122 Notes to the accounts for the Year Ended 31 March 2022 13. Financial Commltmants At 31 March 2022 the charity had the followlng minimum lease commitments under Mn- cancellable operating leases as sgt out b&low.' Land and Buildings 2022 Land and Buildlngs 2021 Equipment 2022 Equlpmont 2021 Operating lease payments due withln 1 year Operating leaso payments due within 2-5 years 4,353 136,990 46,025 148,669 14. Restricted funds 2022 Opening balance Income Expendiluro Transfers Closlng balance ACE - Lottery Alchemy Foundation TikTok Google YouTube 9,651,000 19,651,000) 25,000 125,000> 303,500 {109,141) 152,000) {57,573) 10,000 52,000 57,573 204,359 Total funds 119,573 9,979,500 (9,894,714 204,359 2021 Opening balance Income Expendituro Transfers Closing balanoe ACE- Lottery Alchemy Foundation TikTok Atherton Famity Twst Google YouTube 10,151,000 (10,151.000) 50,000 (50,000) 10,000 53,760 52.000 57.573 10,OLIO (53,760) 000 57,573 Total funds 10,374,333 (10.254,760) 119,5T3 46

Docusign En¥ÈlopÈ ID". 6B4257D4-26024B41-867B-1E9429A55024 THE NATIONAL FOUNDATION FOR YOUTH MUSIC ANNUAL REPORT AND ACCOUNTS 2021122 Notes to the accounts for the Year Ended 31 March 2022 Re5td¢ted 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" Alchemy Foundation Towards th8 Cost of Developrnent Director. Atherton Famity Trust Towards the cost of running a Fund B proj8cI in Stratford: a Fund A project in Kingslon-upon- Thames., and a Fund A projert in Hackney. TikTok Towards the NextGen Fund Google Towards Ihe Incubator Fund YouTube Towards the Incubator Fund 47

Docusign En¥ÈlopÈ ID". 6B4257D4-26024B41-867B-1E9429A55024 THE NATIONAL FOUNDATION FOR YOUTH MUSIC ANNUAL REPORT AND ACCOUNTS 2021122 Notes to the accounts for the Year Ended 31 March 2022 15. Unrestrl¢ted fvnd$ 2022 Opaning balance Income Exp•nditure Transfèrs Closlng balance Deslgnated - capilal fund 11,700 189 11.889 Designated- PPL fund 3,156.672 3,125,000 14.431,9511 1.849,721 General funds 1.021.570 267.378 {79.404) (189) 1,209,354 Tolal funds 4,189.942 3,392,378 14,511,355) 3,0711,964 2021 Openlng balance Income Expendlturo Transfer8 Closlng balance Designated - capital fund Designated - PPL fund General funds 18.457 1.762,627 2.076,731 {6.757) 2,683,254 11,987.853} 698,644 334.325 (511,0171 1691,887} 11,700 3,156,672 1,021,570 Total funds 3,857,815 3,017,579 (2,498.870) 4,189,942 The designated Capital Fund is equal to the cost of th8 Foundation s fixed assets.

Docusign En¥ÈlopÈ ID". 6B4257D4-26024B41-867B-1E9429A55024 THE NATIONAL FOUNDATION FOR YOUTH MUSIC ANNUAL REPORT AND ACCOUNTS 2021122 Notes lo the accovnts for the Year Ended 31 March 2022 16. Analysls of net assets between funds Fund bala￿eS at 31 March 2022 are represented by: Total funds 2022 Designated funds General nds Restrictod funds Tangible fixed assels Cu￿ent assets abilities 11,889 11,889 1,667,139 1,544,907 11,647,044 14,859,091 (156,627) (11,442.685) (11,599,312) Total net assets 1,679.028 1,388,281 204,359 3,271,668 Fund balances at 31 March 2021 are represented by: Dèsignated funds General funds Restricted funds Total funds Tangible fixed assets Current assets Liabilities 11,700 3.156,672 11.700 1,205,043 10,265,739 14.627,454 1183,4731 (10,146,166) {10,329,6391 Totsl net assets 3,168,372 1,021,570 119,573 4,309.515 17. Related party transa¢tlons There were two related party transactlons in the year: Freddie AiU(en and Nathlfa Jordan (Culture Mix) both received a fee of £400 in relation lo oonsultancy provided in relation lo the Recharge Fund, March 2022. 49

Docusign En¥ÈlopÈ ID". 6B4257D4-26024B41-867B-1E9429A55024 THE NATIONAL FOUNDATION FOR YOUTH MUSIC ANNUAL REPORT AND ACCOUNTS 2021122 Notes to the occounts for the Year Ended 31 March 2022 18. People's Postcode Lottery (PPL) Incomé As set out in note 1, income of £3.125,000 was tsceived from PPL in the form of a grant. In 2022 £0 net procgeds of lottèries were ro¢0ived. 2022 2021 Total paid tid(et in draw Actual priz85 total Management fee 8,385.170 (3,354,068) (2.347.847) Net proceeds rec8ived 2,683,255 50

Docusign En¥ÈlopÈ ID". 6B4257D4-26024B41-867B-1E9429A55024