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2024

Company no. 03750674 Charity no. 1075032

THE NATIONAL FOUNDATION FOR YOUTH MUSIC Report and Financial Statements 131 March 2024THE NATIONAL FOUNDATION FOR YOUTH MUSIC ANNUAL REPORT AND ACCOUNTS 2023/24

Evie, NextGen Community Event

PART ONE: Introduction

04 Reference and Administrative Details
05 Chair and CEO Introduction

PART TWO: Trustee's Report

PART THREE: Auditor's Report and Financial Statements

29 Auditor’s Report and Financial Statements 42 Appendix 1: List of Grants To Organisations
07 Objectives and Activities
08 Who We Worked With
10 25 Years of Youth Music
13 Trailblazer Fund
14 Catalyser Fund 15 NextGen Fund 16 Incubator Fund
17 Achievements and Performance
23 Future Plans
24 Governance, Finance and Resources
27 Statement of Trustees’ Responsibilities

THE NATIONAL FOUNDATION FOR YOUTH MUSIC ANNUAL REPORT AND ACCOUNTS 2023/24

PART 1 Introduction 3 THE NATIONAL FOUNDATION FOR YOUTH MUSIC ANNUAL REPORT AND ACCOUNTS 2023/24

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 Resigned 05/03/2024 Charlotte Edgeworth Co-Chair Appointed 05/03/2024 Isaac Borquaye Co-Chair Appointed 05/03/2024 Andrew Lansley Berkley Edwards Bre McDermott-King Claire Wills Appointed 05/12/2023 Hanna Chalmers Miri Buac Nathifa Jordan Paul Bonham Robert Aitken Sam Denniston Sam Ross Resigned 21/09/2023 Sarah Brown Sophia Hall Resigned 11/06/2024

Registered office Studios LG01 The Print Rooms 164-180 Union Street London SE1 0LH

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

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.

Bankers

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

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

R.O.A.R. Talent

THE NATIONAL FOUNDATION FOR YOUTH MUSIC ANNUAL REPORT AND ACCOUNTS 2023/24

Chair and CEO Introduction

In our 25th anniversary year, 80,653 young people facing barriers in their lives participated in lifechanging experiences in music across the country.

We know how important these musical moments are for young people facing barriers in their lives. In fact, our latest flagship report, Sound Of the Next Generation (2024) found that music is young people’s favourite hobby. They see it as a vital part of their lives and want more of it.

And yet, our report also found that young people are getting less access to music education. This comes at a time when a quarter of our funded partners, providing crucial out of school music and creativity, are at high risk of closure. In 2023/24, the number of funding applications we received reached an all-time high, meaning success rates fell to an historic low. Demand is significantly greater than the sum available. Our sector is in crisis.

In response, we’ve provided stability funding to organisations in need, strengthened our Exchanging Notes learning and development programme to provide bespoke guidance to our funded partners on topics they need most right now. We’ve bolstered our board with two new Co-Chairs, Charlotte Edgeworth and Isaac Borquaye, following the departure of YolanDa Brown after six years of sterling service. They will help to oversee strategy, raise our profile, and secure crucial partnerships and income from a wide range of donors in keeping with our new fundraising strategy to enable us to significantly increase investment.

This year, £9,944,177 in new grants was invested across 281 organisations, 86% of which were outside London. We launched the Youth Music Energiser Fund. £1.5 million will be invested in a 3-year programme to explore, celebrate and energise creative practice with 2- to 4-yearolds. Importantly, it will centre the voices, rights and lived experience for children at an age where they are often undervalued and underestimated.

Throughout all of this, we’ve grown the involvement of young people – from informing funding decisions, to creating our content. We’ve platformed young people in to the industry, with our increasingly high profile annual Youth Music Awards event, four in person networking events for emerging creatives in different cities around the UK, and distributing 150 grants in to the pockets of 18-25 year olds.

2023/24 was the first year of our new business plan for the period April 2023 to March 2026. The plan is underpinned by three, strategic objectives:

Equalise access and outcomes for children and young people.
Empower projects and professionals to survive and thrive.
Inspire change amongst the creative ecosystem.

Our National Lottery funding via Arts Council England is currently in place until March 2026. We have been invited to apply for a rollover year to March 2027, the

process for which takes place in Autumn 2024. Our designation as a delegated distributor of National Lottery funds was our foundation in 1999 and has continued ever since. Without the support of the National Lottery, celebrating its 30th Anniversary this year, and Arts Council England, Youth Music would not exist. A huge thanks to them for their steadfast and loyal support.

We’re also grateful to the People’s Postcode Lottery for their continued and significant investment. This unrestricted support from their Postcode Culture Trust has been a game changer for us at Youth Music. And, a big thanks to all our funders, supporters, staff, Trustees and ambassadors. Their invaluable contributions enable us to drive change in pursuit of our mission.

As we have for the past 25 years, we remain focused on equalising young people’s access to music, whatever their background or goal. Guided by their voices and views. And continuing to raise awareness of the transformative power of music.

This is all made possible by a fantastic grassroots community of music leaders, youth workers, educators, producers, administrators, trustees, donors, and partners across the UK. A powerful movement dedicated to building communities and addressing the many barriers young people face in their lives.

Isaac Borquaye Charlotte Edgeworth Matt Griffiths Co-Chair Co-Chair CEO

THE NATIONAL FOUNDATION FOR YOUTH MUSIC ANNUAL REPORT AND ACCOUNTS 2023/24

PART 2 Trustees’ Report 6 THE NATIONAL FOUNDATION FOR YOUTH MUSIC ANNUAL REPORT AND ACCOUNTS 2023/24 y

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The Spark Arts for Children
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Objectives & Activities

We are Youth Music. We are the UK’s leading young people’s music charity. And we believe that every young person should have the chance to make, learn and earn in music and wider creativity.

Yet our research shows that many can’t because of who they are, where they’re from or what they’re going through.

We leverage our insights, investment, and influence to build a national grassroots infrastructure that ensures the future of music is more inclusive, diverse, equitable and accessible.

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.

Data and evidence

At Youth Music we’re led by evidence and act on the views of those who we serve and collaborate with. In this report we draw on a variety of data. This includes our own research, funding application and reporting data, and feedback from our annual feedback survey (which is sent to anyone who has applied to us for funding). We also use published data and evidence from other sources.

Outcomes

In 2023/24, we worked towards these three key outcomes…

1. Equalise access and outcomes for children and young people.

2. Empower projects and professionals to survive and thrive.

3. Inspire change amongst creative ecosystem.

… which we aim to achieve whilst living our values:

Bold, inclusive, enterprising, responsive, trusting.

THE NATIONAL FOUNDATION FOR YOUTH MUSIC ANNUAL REPORT AND ACCOUNTS 2023/24

Who We Worked With

We support 0–25-year-olds across the UK who face barriers because of who they are, where they live, or what they’re going through.

Age

In 23/24, we worked with 80,653 children and young people - 27,458 on a sustained basis. The following charts show the core participant data submitted by funded partner evaluation reports.

Ethnicity

0.68% preferred to self-describe their ethnicity, and 11.7% preferred not to say at point of data collection. Ethnicity data was collected for 82% of core participants.

Gender Identity

0.3% preferred to self-describe their gender identity, and 1.3% preferred not to say. Gender data was collected for 76% of core participants.

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Non-binary 1.1%
Female 46.4%
Male 50.9%
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Distribution of ages of core participants in evaluation data, collected for 80% of core participants.

THE NATIONAL FOUNDATION FOR YOUTH MUSIC ANNUAL REPORT AND ACCOUNTS 2023/24

Who We Worked With

In the word clouds below, the larger the word, the more frequently it was listed.

Barriers to participation

Genres explored

THE NATIONAL FOUNDATION FOR YOUTH MUSIC ANNUAL REPORT AND ACCOUNTS 2023/24

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Music Fusion
Words not Weapons
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The Youth Music Action Zone initiative
ea) Bree
is launched to establish new music
provision in areas of ‘social and YEARS OF YOUTH Music
economic need’.
Bl
2000
1999
Youth Music’s First Steps Youth Music release
programme is launched – “Singbook – 12 Songs
funding music projects for Worth Singing”, with
Youth Music is launched
as a delegated National prenatal babies, pre-school music to reflect the The national Sing Up programme
Lottery Distributor, with children and their parents. UK’s cultural diversity. is launched to increase singing in
a mandate to ensure primary schools, in partnership
music is accessible to all. with The Sage Gateshead (now
£10 million annually is 2001 2005 the Glasshouse) and Faber Music.
provided via Arts Council
England.
Sir Richard Stilgoe,
Writer/Broadcaster
appointed Chair, a role he "Music Fusion was set up in 2002. People and policy come 2007
held to January 2013. “ and go, but in the end no real investment seems to happen. Youth Music launches seminal
Young people simply slip through the net. Youth Music
research Our Music: Musical
helped set up Music Fusion in 2002, and have continued to
engagement of young people
support us with funding, advice, networking opportunities,
aged 7-19 in the UK.
sharing of best practice and industry contacts. Thanks to
Youth Music’s continued investment in our community, I
can proudly say we have impacted 1000’s of young people
lives. In a world where it is difficult to believe in anything, I 2006
believe in Youth Music."
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– Jinx, CEO, Music Fusion.

THE NATIONAL FOUNDATION FOR YOUTH MUSIC ANNUAL REPORT AND ACCOUNTS 2023/24

2014

2018

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2011
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2009

10 years of Youth Music – reached over 2 million children and young people.
Music Education in England review by Darren Henley – suggests changes to the way Youth Music operates.
First National Plan for Music Education in Education in England is launched.
• Youth Music win BeMOBO Award.

Youth Music upper age limit of support raised from 18 to 25.

“

“It has been a pleasure to work alongside Youth Music on our journey over the past 10 years. An understanding and proactive funder who 'gets it'. Thank You!”

YolanDa Brown appointed Chair of Youth Music.

– Youth Music funded partner.

A change in ~~Government signals~~ the start of a 10 year programme of austerity.
Tom Morello of Rage Against the Machine raises money for Youth Music by donating the proceeds of the rerelease of their 1992 hit song, “Killing In The Name Of” – which got to Christmas No.1 in 2009.

Sir Richard Stilgoe steps down from the board having been a trustee since 1999 and Chair of Trustees from 2007.

~~Matt Griffiths appointed CEO of~~ Youth Music.

• Youth Music establishes new funding formula to ensure equitable distribution of funding across England.

2012

2017

Youth Music Give a Gig Week is launched.
Youth Music becomes the first organisation in the arts and cultural sector to become a Living Wage Funder.

Youth Music Awards Credit: Will Ireland

2010

Give A Gig Week

THE NATIONAL FOUNDATION FOR YOUTH MUSIC ANNUAL REPORT AND ACCOUNTS 2023/24

Reshape Music co-researcher Jess

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2021
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2022
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• Youth Music’s Reshape Music explores music with d/Deaf and Disabled young people; whilst

• Youth Music begins funding young people directly through the NextGen Fund.

funding young • Refreshed people directly National Plan for through the Music Education NextGen Fund. is published.
• Youth Music’s Self• NextGen Fund Expression report is extended to launched. Northern Ireland.
A Blueprint for the Future research informs the launch of our first dedicated fund to close the gap between music learning and music earning.
25 Years of Youth Music!
Youth Music Sound of the Next Generation 2024 report is launched.
Youth Music Emergency Fund supports projects through the pandemic.
• Youth Music NextGen Community is born.
Charlotte Edgeworth and Isaac Borquaye (aka Guvna B) appointed Co-chairs of Youth Music.

2020

Youth Music Energiser Fund is launched – Youth Music’s first fund into wider creativity for early years.
• Youth Music wins Living Wage Cultural and Creative Champion Award.

~~2019~~

“

“Youth Music have completely changed what we do and how we function as an organisation, helping us build our team, become sustainable and giving us the capacity to bring in our young people/alumni as employees and leaders.”

• The First Youth Music Awards are held. • Youth Music’s The Sound of the Next Generation research is launched.

2024

Youth Music receive People’s Postcode Lottery funding, allowing us to begin work in Scotland and Wales.

– Youth Music funded partner.

Youth Music wins Living Wage Funder Champion Award.

2023

Youth Music’s Exchanging Notes report is launched calling for a more relevant school music education. #StormzyANDMozart

Musicians’ Union claims Government funding for the arts is down 46% in real terms since 2005.

Living Wage Awards 2024

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Concerteenies
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Case study: Concerteenies

Concerteenies is a programme for young babies and their grown-ups to experience high quality live musical experiences from birth. Sessions offer an eclectic mix of music that is culturally relevant to the families involved. Sensory elements include sound, sight, touch, bubbles, hand percussion, scarves, feathers, blankets, toys and simple baby massage, all available in a welcoming and informal environment.

The project worked with 11 community partners and a range of professional musicians to deliver sessions in four underinvested areas in and around Sheffield.

Participants felt overwhelmingly positive about Concerteenies, with the environment, music, and interactive and sensory element among their favourite aspects of the concerts.

One adult attendee said, “Concerteenies focus on the parents as well as the babies. I find the atmosphere is always really welcoming and relaxed and we can both sit back and enjoy the music. Plus I don't have to sing ‘Old McDonald had a Farm’”.

Audience members found the events incredibly valuable, saying, “The music today was beautiful and so soothing. My baby fell asleep easily which he hasn't been doing. The music was very enjoyable just for me while he napped”, while another said, “I used to take part in music but haven’t had chance since having my baby so was lovely to connect to it again in a place I felt comfortable being with my baby”.

Concerteenies

THE NATIONAL FOUNDATION FOR YOUTH MUSIC ANNUAL REPORT AND ACCOUNTS 2023/24

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X
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Grants of £30,001 to £300,000 for established organisations looking to sustain or scale up their work. £3,787,834 grants made to 32 organisations. Success rate of 14%.

Case Study: Circle of Light

Circle of Light: Minor - to - Major is a youth led programme based in Nottingham, offering young people aged 16-25 career clarity, training, music opportunities and work experience.

The project offers a range of weekly workshops and masterclasses, helping young people to figure out which pathway into the music industries is best suited to them. This is accompanied by opportunities for independent study and practice, paid work and access to industry insiders including Glastonbury performers, creative directors, label directors and even BBC radio presenters.

Participants can also have their music released as part of an album created by Circle of Light attendees, as well as have the chance to perform live as part of Circle of Light’s national tour.

Emily Makis, a previous participant, currently has 1.3 million monthly listeners on Spotify and recently won ‘Best Vocalist’ at the Drum and Bass awards. “This journey has been absolutely magical,” said Emily. “Circle of Light really helped my begin the start of my professional music career. I wasn’t very confident in my ability to perform - my ability to be somebody who I wanted to be, and Circle of Light really helped with that.”

THE NATIONAL FOUNDATION FOR YOUTH MUSIC ANNUAL REPORT AND ACCOUNTS 2023/24

Who received a grant

26% identify as d/Deaf or Disabled
61% Women and minoritised genders

• •

41% from the LGBTQ+ community
47% people from the Global Majority
50% identify as neurodivergent

Grants of up to £2,500 for artists and behind-the-scenes creatives to make their ideas happen. £258,030 grants made to 103 young creatives. Success rate of 18%.

26% from a lower socio-economic background

Case study: Meduulla

Meduulla • 81% investment outside of London

Hailing from Manchester, Meduulla is a 24-year-old Zimbabwe born rapper and poet.

54% first time applying for funding

Thanks to the Youth Music NextGen Fund, Meduulla was able to fund the creation of her debut album ‘Oblongata’, which she released last November. The record draws from her personal journal writings: “I let the beat lead me somewhere and try to have no filter when I write. Then I revisit what I've written and try and make it musical.”

Case study: Alexander West

Alexander West is a 24-year-old Reading based musician, promoter and radio presenter originally from Berkshire.

A lover of all kinds of new music, Alexander used his Youth Music NextGen Fund to launch a series of events as part of his ‘Closer To Home’ project. Taking time away from his previous role as a presenter for BBC Introducing to do this, the project tagline was “You Shouldn't Have to Travel Into London to See Great Live Music”. Over the course of four events, Alexander was able to showcase 11 different local acts at a number of local venues. This generated a lot of local support and attention for the artists, as well as excitement for potential future events.

She has been featured by DJ Mag, Happy Magazine, ITVX, and has plans to follow the EP with more music releases. Meduulla also wrote and featured in the powerful spoken word piece for the Youth Music Awards 2023 introduction film, Take Note.

“

Alexander has found the experience to be extremely helpful and rewarding, saying, “The grant has given me the confidence and impetus to deliver these different events, and also to begin focussing on my own brand for the first time and get in front of the camera more often - I've spent a lot of time supporting other creators with theirs, so it's been great to be able to take some time for myself too!”

“

Speaking about the impact the Youth Music NextGen Fund had on her, Meduulla said: “I have collaborated with seven people on the creation of the songs alone. I have learned how to work together with other artists and support each other where we can. Additionally, I have been given the confidence to apply for more grants and opportunities to develop my practice thanks to my successful application with Youth Music.”

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Alexander West
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THE NATIONAL FOUNDATION FOR YOUTH MUSIC ANNUAL REPORT AND ACCOUNTS 2023/24

Shy Bairns Collective

Case study

First Artists Management’s (FAM) Composer Assistant and Mentor Programme was designed for people wanting to make music for film or television. A leading talent agency for composers and music supervisors in visual media, the programme was designed to increase diversity in the music for screen industry, for aspiring composers who didn’t have a traditional music background, university degree, connections or support.

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Noods Levels
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Ten young creatives benefited from level 1 support including webinars, Q&As, creative music feedback and networking with industry professionals. Two people went on to undertake a three month full time paid placement.

“

Hamish Duff, who heads up FAM’s UK Office, says “We’ve seen 5 mentees get jobs through the scheme, mostly on short films, which is a great introduction to starting a career as a film and TV composers. We now hope these jobs will lead to more and then eventually to them being able to sustain their careers. We also signed someone through this programme, which is a positive step in our organisation increasing the diversity of our UK roster.

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This process has definitely opened our eyes to the amount of talent who need to be actively sought out rather than them coming to us. We’ve worked with some great partners who are now wanting to support future schemes. We plan to run it again, because the programme will only make a real long term change to the industry by repeating it year on year”.

THE NATIONAL FOUNDATION FOR YOUTH MUSIC ANNUAL REPORT AND ACCOUNTS 2023/24

Achievements and Performance

OUTCOME 1: Equalise Access and Outcomes for Children and Young People

Champion Youth Voice

This year, we have renewed our youth voice strategy and launched the Energiser Fund to explore co-creation with 0-5s. We’ve also established a ‘youth voice partners’ programme, to learn from the projects that are leading the way in putting young people’s voices front and centre. Over 12 months, we’ll be working with young people from Jubacana in Oldham, Midlands Arts Centre in Birmingham and Allstar in Bradford to support our funding decisions and embed more youth voice across different areas of our operations.

Our Strategic Framework

As part of this, the greater involvement of young people themselves in the assessment process has been particularly valuable, benefitting from their insights and lived experiences to inform our decisions.

Invest Equitably

Our model is simple. We raise funds to tackle the root causes of music inequality. We then invest in the best grassroots music projects to do this. Our national scale and 25-year track record puts us in a unique position:

We work with expert local partners in every corner of the UK, reaching early years to young adults.
We have robust evidence of what works.
We know how and where funding and support is needed to create a more accessible and equitable industry.

Investment Overview

We award grants to grassroots organisations who enable young people to make, learn or earn in music. We also give small grants directly to young artists and behind-the-scenes creatives.

We are currently funding 465 projects to the value of £23,964,238 (as at July 2024).
In 2023/24, we invested £9,944,177 in 281 new grants.
For every £1 we invested, projects secured an extra £1.14p to support their vital work.
We publish all of our grant data on the 360Giving website.

THE NATIONAL FOUNDATION FOR YOUTH MUSIC ANNUAL REPORT AND ACCOUNTS 2023/24

Where We Invested

More than 86% of Youth Music investment was allocated outside of London (£8,546,406). 7% of investment (£724,028) was allocated towards programmes delivering on a national level.
63% of investment (£6,035,083) went into diverse-led organisations.
45% of funding was invested in the 20% most deprived local authority areas (where work took place in specific local authority areas rather than regional or national work).

Application and Success Rates

Demand for our funding is increasing yearon-year. This year, we received over 1,100 applications totalling over £35 million. The average success rate this year was 18%.

Close Gap from Learning to Earning

Application and Success Rates

Over 500 creatives attended one of five nationwide NextGen Community Events held in Cardiff, London and Manchester. Topics included ‘Big Impact, Small Budget: Marketing for Artists’, ‘Using Meta Platforms: Instagram, Threads and Facebook’ and were delivered in partnership with industry leaders such as Meta and Young Guns Network.

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14%
11%
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1%
9%
11%
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9%
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“

"I think one of the massive highlights was just meeting so many amazing creatives from Manchester. There’s such a community here and you don’t realise it until you come to things like this. There are so many amazing people that want to connect, share and support you and I think that’s a massive positive that comes through.”

– NextGen Community Event attendee, Manchester

70% said they’d made industry connections at the event.

THE NATIONAL FOUNDATION FOR YOUTH MUSIC ANNUAL REPORT AND ACCOUNTS 2023/24

OUTCOME 2: Empower Projects and Professionals to Survive and Thrive

Inspire Progressive Practices

Learning and Development

Exchanging Notes is our learning programme designed to spark sustainable, nationwide changes in sector practices. It’s led by experts inside and outside of our community.

338 people attended one of 22 workshops over the past year.
“Extraordinarily informative - best thing I’ve ever seen on Zoom without exception. Riveted.”

– Exchanging Notes attendee.

"Actually attending the training was amazing – I feel like Youth Music has invested in my organisation beyond the grant. I’ve been telling everyone how impressed I’ve been. If the safeguarding policy doesn’t meet where it should be, then it’s really powerful to have a light shone on it, together with such well-developed support."

– Exchanging Notes attendee.

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Flexible Funding

How We're Doing (Funder Principles)

Each year, we ask all those who have applied to us to rate us against our ten funding principles in our annual feedback survey. We’re pleased that the vast majority of people are happy with the way we fund. However, this year has seen small increases in those who rate us below average. It’s a real challenge to maintain our customer service

levels with an ever-increasing volume of applications. Flexibility, transparency and not wasting time are the areas of lowest satisfaction. This coming year, we will continue to reflect on the way we administer and communicate about our funding in response to this.

THE NATIONAL FOUNDATION FOR YOUTH MUSIC ANNUAL REPORT AND ACCOUNTS 2023/24

OUTCOME 3: Inspire Change Amongst Creative Ecosystem Join Forces to Increase Impact

“

Partners

"Ticketmaster is committed to backing the next generation of talent, making our partnership with Youth Music a perfect fit. Having worked together the last two years and seen the platform that their events, Youth Music Awards and the Next Gen, give to rising artists, we can't wait to see what's next."

– Andrew Parson, Managing Director, Ticketmaster UK.

"Youth Music has been a really flexible partner with our small social enterprise YGN (Young Guns Network), working with us over the last 7 years to curate one-off events, as a funder of projects to create employment for young people in music and a collaborator on an events series. They've connected us with speakers and opportunities which have helped us sustain the project, we love Youth Music!"

- Remi Harris MBE and Sam Potts, Co-Founders, YGN/ Young Guns Network.

Ambassadors

GRAMMY Award winning artist Eve, chart-topping singer-songwriter MNEK and BBC Radio 1 presenter Jess Iszatt have been announced as our new Ambassadors. The trio joined longtime Youth Music ambassadors, DJ duo BICEP, to help celebrate our 25th anniversary. The ambassadors will use their voices and influence to raise awareness of the importance of grassroots music for young people who are facing barriers to access. Particularly at a time when funding for crucial grassroots music projects is in crisis.

Secure Income

Partnerships

We appreciate the generous support of new and returning partners from across the music industries. Highlights include:

PPL UK came on board as partners in the Youth Music NextGen Fund.
Ticketmaster continued to support the Youth Music community.

Real Living Wage

“We were delighted to offer the inaugural Creative and Cultural Living Wage Champion award to Youth Music, in recognition of their work tackling low pay in the music industries and beyond. Youth Music has consistently celebrated the Living Wage: among the NextGen network; influencing others in the cultural sector; and as a Living Wage Funder, supporting and enabling hundreds of grantees to pay the real Living Wage.”

– Lianna Etkind, Partnerships & Campaigns Manager, Living Wage Foundation.

For the Youth Music Awards, in association with our long-term partner, Hal Leonard Europe, we secured 17 corporate partners. We also received in-kind support from partners including LCCM, ATC Live and Shure.
We joined the pilot of McDonald’s new ‘Makin It’ initiative, which aims to provide young people with local opportunities and training in football, youth work and music.
PayPal Giving Fund in May selected Youth Music, raising more than £30,000 from members of the public.
DJ Mag’s Best of British Awards, the Heavy Music Awards and Spotify’s Misfits Prom all supported Youth Music.
Fred Again ran a guestlist donation at his sold-out London shows and Hot Chip supported us through a DJ set.

THE NATIONAL FOUNDATION FOR YOUTH MUSIC ANNUAL REPORT AND ACCOUNTS 2023/24

Position as Changemaker

Alumni

Our recent alumni include Ezra Collective, Young T and Bugsey and 2024 Mercury Prize nominees English Teacher. Other successes this year include ALT BLK ERA being nominated for a MOBO award, and JayaHadADream winning Glastonbury’s emerging talent competition.

Artificial Intelligence

To date, the conversation around AI in music has been dominated by older, established artists and music industry executives. Youth Music conducted research to bring the voices of young people into the debate, with fascinating results. Contrary to the mainstream narrative around AI in music, two thirds (63%) of young creatives told us that they are embracing Artificial Intelligence (AI) to assist in the creative processes in music making.

Impact of cost-of-living crisis

In May 2024 we carried out a survey with grassroots organisations about the impact of the cost of living crisis. We found over two thirds of youth music spaces are focused on short-term survival, with a quarter considering closure. The situation for young people is equally dire; 98% have reported increases in mental health issues, 69% in increased poverty levels and 47% said more children are going hungry. This situation is deeply alarming, starkly illustrating how the cost-ofliving crisis is having an increasing impact on the wellbeing of young people and the sustainability of grassroots organisations nationwide, which are often small and therefore particularly vulnerable.

We used this insight to pitch a story to national media, landing coverage across nationals, trade and consumer media including Sky News, Music Ally and DMY.

Lyrics and Wellbeing

We know that music and lyrics have long been used as a powerful form of expression (and, at times, protest) for young voices. So, with the Covid-19 pandemic, political instability, and the cost-of-living crisis taking their toll on the population, especially young people, we wanted to understand the role of creativity in young people’s wellbeing today. Our research revealed that almost all of those surveyed (93%) said that listening to, reading, or writing lyrics often serves as a therapeutic tool. We also interviewed creative career starters aged 18-25 from our NextGen community to find out more.

The story generated coverage in Music Ally, Mixmag and DJ Mag.

Soundabout

THE NATIONAL FOUNDATION FOR YOUTH MUSIC ANNUAL REPORT AND ACCOUNTS 2023/24

Future Plans

In 2024 the Executive Team engaged in focussed business planning sessions in response to the cost-of living crisis and the strain on young people and the grassroots projects supporting them. Our overarching outcomes are unchanged, but our campaigning and fundraising will grow as we respond to the crisis.

Youth Music Strategic Framework 2023 - 2026

Vision

Mission

A world where every young person can change their life through music and creativity

We are creating a world where every young person can make, learn and earn in music and creativity, whatever their background or goal

		1					2						3
Outcomes		EQUALISE ACCESS AND		EQUALISE ACCESS AND	EMPOWERPROJECTS AND			PROJECTS AND			INSPIRE CHANGE
		OUTCOMES FORCHILDREN			PROFESSIONALS TO SURVIVE					TO SURVIVE	AMONGSTCREATIVE
		AND YOUNG PEOPLE					AND THRIVE				ECOSYSTEM



Organisational Objectives		INCREASE INCOME		INVEST WHERE IT'S NEEDED MOST			INSPIRE INCLUSIVE PRACTICES			INCREASE PROGRESSION FOR YOUNG PEOPLE			STRENGTHEN ORGANISATION

	•	Grow grants budget	•	Flexible funding		•	Influence IDEA		•	Implement youth voice	Implement youth voice	•	• Good governance
	•	Develop philanthropic	•	Equitable investment			(inclusion, diversity,			strategy		•	• Team structure, capacity and
		fundraising	•	Innovate grant making			equity, access)		•	Close gap from learning			capabilities
Priorities	•	Grow strategic		practice		•	Embed safeguarding			to earning		•	• Progressive policies
		partnerships				•	Build partnerships		•	Grow NextGen		•	• Organisational resilience
						•	Platform diverse voices			community

THE NATIONAL FOUNDATION FOR YOUTH MUSIC ANNUAL REPORT AND ACCOUNTS 2023/24

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 overseas HR & Remuneration and Benefits of the Chief Executive Officer and staff, as well as ensuring that staff policies, procedures and development plans are in keeping 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.

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 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.

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 7 to the accounts.

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

24 THE NATIONAL FOUNDATION FOR YOUTH MUSIC ANNUAL REPORT AND ACCOUNTS 2023/24

Governance and Accounts

Reserves Policy 2024

On 10 May 2024, the Trustees reviewed and ratified Youth Music’s Reserve Policy.

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;
In the event of such action becoming necessary, to enable the Charity to restructure its operations in an orderly and compassionate manner;
To fulfil our obligations to our employees and the Landlord.

Level of Reserves

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 are regularly updated and compared with reserves calculated in accordance with this policy.

The Trustees 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 and People’s Postcode Lottery grant.

The Trustees have considered the appropriate level of free reserves that the Charity should hold. They have determined that we maintain a range of between six and nine months, being between £1,095,950 and £1,643,925. At 31 March 2024 the unrestricted reserves totalled £2,030,430. 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 2 to the financial statements, Youth Music received £2,600,000 from People’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 the basis of our partnership arrangement, and the Trustees are therefore showing these funds as separately designated funds.

The timing of receipt of these funds meant that as at 31 March 2024 a significant amount of funds received had not been committed and thus are duly designated.

Designated Reserves

As at 31 March 2024 Youth Music had designated reserves of £1,920,336. This comprised two funds:

£30,923 in respect of the Capital fund represented by the book value of fixed assets; and
£1,889,413 in respect of the PPL funding element towards Capacity Building, Organisational Stability and a Responsive Fund in keeping with the Business Plan 2023 to 2026.

Other unrestricted reserves

The remaining unrestricted reserves amount to £2,030,430 against a target range of between £1,095,950 and £1,643,925.

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 and People’s Postcode Lottery grant. See also Future Plans page 25.

THE NATIONAL FOUNDATION FOR YOUTH MUSIC ANNUAL REPORT AND ACCOUNTS 2023/24

Governance and Accounts

STRATEGIC REPORT

As a result, reserves of £3,950,766 (2023: £3,210,993) were carried forward at 31 March 2024, of which £Nil (2023: £189,914) related to restricted funds.

Achievements and performance

For details of the achievements and performance of the Charity in the year, please refer to the 2023/24 overview provided in the first section of this report.

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.

Key performance indicators (KPIs)

The Trustees regularly monitor the progress of the Charity by reference to both financial and non- financial 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 2023/24 overview on pages 5-25 and the financial review below.

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 (2023: no complaints).

Financial review

Total income recognised during the year amounted to £12,934,021 (2023: £12,490,401). This includes full recognition of approved grants receivable relating to the accounting period.

Plans for future periods

For details of future plans and developments, please refer to the relevant section on page 25.

Principal risks and uncertainties

Core lottery-funded income from ACE was £9,651,000 for the year (2023: £9,679,170). The percentage of ACE income granted out to beneficiary organisations was 90% (2023: 92%), in line with the funding agreement. The Peoples Postcode Lottery (PPL) provided funding of £2,600,000 (2023: £2,500,000). Other income comprising donations, grants, and investment income totalled £683,021 (2023: £311,231).

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 and People’s Postcode Lottery funding. Arts Council England funding agreement in place 1 April to 31 March 2026 at the current level of £9.65m with roll over funding of £9.65m confirmed for the period 1 April 2026 to 31 March 2027. People’s Postcode Lottery £2.5m unrestricted funding agreements are renewed annually. Mitigation steps include regular scheduled meetings to discuss compliance and progress against the ambitions set out in our business plan. Our Annual Report which sets out our strategy, achievements, impact and financial information is produced and published in a timely fashion.

Expenditure for the year amounted to £12,194,248 (2023: £12,551,075) of which 98% (2023: 98%) was spent on charitable activities and 2% (2023: 2%) to generate voluntary income. Grants of £148,364 (2023: £87,575) 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 £Nil on restricted funds at the yearend (2023: £189,914).

The surplus of income against expenditure on unrestricted funds, amounting to £929,687 (2023: £46,229 deficit), has been added to unrestricted reserves, as shown in note 15 to the financial statements.

Lack of diversification of income leading to inability to continue in current form and/or achieve significant impact. We continue to diversify our corporate partners and to seek multi-year commitments. Mitigation steps include strengthening our board of trustees with industry representatives, the establishment of our industry fundraising advisory board, and the review and refresh of our major donors and philanthropy strategy.
Safeguarding incident at Youth Music or a major funded partner organisation. We continue to be committed to establishing a positive safeguarding culture to protect members of our team and those who come into contact with the charity from harm. Mitigation steps include vetting of people in line with our codified roles, having an active trustee with responsibility for Safeguarding at board level, ensuring that Safeguarding is a standing agenda item at trustees meetings, having both a Designated Safeguarding Lead and a Deputy DSL and a team of safeguarding champions who meet regularly and working with Funders Safeguarding Collaborative to review policies and supporting paperwork, provide the DSL and Deputy DSL with specialist training and provide safeguarding awareness training across the organisation. We have also refreshed our safeguarding minimum requirements, clearly setting this out for applicants within our Safeguarding Hub.
Brand/ Reputational Risk. We are mindful that negative media coverage could have a negative impact on our reputation, leading to loss of support from the sector and our ability to maintain/ generate additional income. Mitigation steps include having a crisis communication plan in place which the senior executive team are confident to execute in liaison with Trustees and our PR agency should the need arise. To compliment the work on our fundraising strategy we took the opportunity to review our ethical fundraising policy, our key messages and have provided key personnel with media training to ensure we are on message.
Cyber security or IT system failure. We are alert to potential fraudulent approaches which could result in loss of sensitive data, diminish our finances and/ or our reputation and have practices in place to assist us to mitigate against attacks. Mitigation steps include, having cyber insurance in place, working in liaison with our IT experts who assist us to navigate the continuous attempts to disrupt our operations and scheduling a cyber audit review Autumn 2024 with an external expert after which we will seek to appoint internal cyber champions.
Fraud. We are alert to fraud committed by a funded partner, individual grant holder, trustee or staff

member, as well as the increased use of Artificial Intelligence (AI), which could lead to the loss of funds and/or reputational damage. Mitigation steps include vetting of staff, ensuring that our Counterfraud strategy is reviewed and ratified annually at trustee level and practices adopted and adhered to, and adopting two step factor authentication across our financial admin systems and processes. Autumn 2023 we engaged an independent internal auditor to undertake a review of our grants programme and included the learnings/ recommendation into our counter fraud policy schedule. We plan to undertake a similar exercise on financial management within the 2024/25 financial year.

Significant change to our flagship funding programme alongside challenging external funding environment. The cost-of-living crisis has put pressure on grassroots organisations, driving demand for funding to an all-time high. Mitigation steps include the refresh of our Governing documents updating our objective as follows: To advance the education of the public (especially young people), in particular, in the arts and culture. We also refreshed our funding programmes to reflect the need from the sector, our fundraising strategy as mentioned above and continue to commit to being transparent with our Arts Council England colleagues and funded partners.
Loss of key staff impacting on delivery of our business plan and team capacity. Mitigation steps include the establishment of our Equitable Remuneration Policy, our Learning and Development Strategy, investing in and supporting our staff-led groups: Values and IDEA and the ongoing review, refresh, and innovation of our HR policies to further underpin our commitment to living our values including entitling all staff to occupational sick pay from day one.

The Board reviewed the risk register in May 2024 and are 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

THE NATIONAL FOUNDATION FOR YOUTH MUSIC ANNUAL REPORT AND ACCOUNTS 2023/24

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:

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 17 September 2024 and signed on their behalf by:

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
…………………………………. Charlotte Edgeworth Co-Chair
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.

…………………………………. Isaac Borquaye Co-Chair

…………………………………. Claire Wills Claim Wits Chair of Finance & Audit Committee

THE NATIONAL FOUNDATION FOR YOUTH MUSIC ANNUAL REPORT AND ACCOUNTS 2023/24

PART 3 Auditor’s Report and Financial Statements 28 THE NATIONAL FOUNDATION FOR YOUTH MUSIC ANNUAL REPORT AND ACCOUNTS 2023/24 y

Independent Auditor’s Report

Opinion

We have audited the financial statements of The National Foundation for Youth Music for the year ended 31 March 2024 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).

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.

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 2024 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.

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 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.

THE NATIONAL FOUNDATION FOR YOUTH MUSIC ANNUAL REPORT AND ACCOUNTS 2023/24

Independent Auditor’s Report

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 26 the trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the

preparation of the financial statements and for being satisfied that they give a true and fair view, and for such 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.

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.

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.

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:

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.

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

Irregularities, including fraud, are instances of non• Challenging assumptions and judgements made compliance with laws and regulations. We design by management in their critical accounting procedures in line with our responsibilities, outlined estimates. above, to detect material misstatements in respect of irregularities, including fraud. The extent to which Because of the inherent limitations of an audit, there is our procedures are capable of detecting irregularities, a risk that we will not detect all irregularities, including including fraud is detailed below: those leading to a material misstatement in the financial statements or non-compliance with regulation. This Based on our understanding of the charitable company risk increases the more that compliance with a law or and the environment in which it operates, we identified regulation is removed from the events and transactions that the principal risks of non-compliance with laws reflected in the financial statements, as we will be less

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

likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.

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.

Signed: ................................................ |b

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

10 Queen Street Place London EC4R 1AG

8 October 2024

Date: ...................................................

THE NATIONAL FOUNDATION FOR YOUTH MUSIC ANNUAL REPORT AND ACCOUNTS 2023/24

Financial Statements

Statement of Financial Activities

(Incorporating the Income and Expenditure Account) for the Year Ended 31 March 2024

Income	Note	Unrestricted	Restricted	Total 2024	Total 2023
		£	£	£	£
Income from:
Donations & Legacies	2	2,911,558	9,778,500	12,670,058	12,431,254
Investments		263,716	-	263,716	58,614
Other		247	-	247	533
Total income		3,175,521	9,778,500	12,934,021	12,490,401
Expenditure
Expenditure on:
Raising funds	3,5	208,450	12,500	220,950	207,623
Charitable activities	4	2,037,384	9,955,414	11,973,298	12,343,452
Total Expenditure		2,245,834	9,967,914	12,194,248	12,551,075
Net income / (expenditure)		929,687	(189,914)	739,773	(60,674)
Net movement in funds		929,687	(189,914)	739,773	(60,674)
Fund balances brought		3,021,079	189,914	3,210,993	3,271,667
forward at 1 April 2023
Fund balances carried forward at 31 March 2024	15,16	3,950,766	-	3,950,766	3,210,993

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 42 to 58 form part of these financial statements.

THE NATIONAL FOUNDATION FOR YOUTH MUSIC ANNUAL REPORT AND ACCOUNTS 2023/24

Financial Statements

Balance Sheet as at 31 March 2024

(Registered Company No. 03750674)

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

…………………………………. Charlotte Edgeworth Charlotte Edgeworth Co-Chair …………………………………. Isaac Borquaye Co-Chair

…………………………………. Claire Wills OlLaire Wits Chair of Finance & Audit Committee

The notes on pages 42 to 58 form part of these financial statements

	Note	2024	2024	2023	2023
		£	£	£	£
Fixed assets
Tangible fixed assets	9		30,923		5,478
Current assets
Debtors	10	221,396		131,070
Cash at bank and in hand		14,121,418		14,714,863
		14,342,814		14,845,933
Creditors: amounts due within one year	11	(6,911,950)		(7,033,478)
Net current assets			7,430,864		7,812,455
Total assets less current liabilities			7,461,787		7,817,933
Creditors: amounts due after one year	12		(3,511,021)		(4,606,940)
Net assets			3,950,766		3,210,933
Funds
Restricted funds	14		-		189,914
Designated funds	16		1,920,336		1,594,606
Unrestricted funds	15		2,030,430		1,426,473
Total Funds			3,950,766		3,210,993

THE NATIONAL FOUNDATION FOR YOUTH MUSIC ANNUAL REPORT AND ACCOUNTS 2023/24

Financial Statements

Statement of Cashflows

for the Year Ended 31 March 2024

	Note	2024	2023
		£	£
Cash provided by (used in) operating activities		(828,657)	(30,325)
Cashflows from investing activities
Net purchase/sale of fixed assets	9	(28,504)	(1,549)
Interest received		263,716	58,614
Cash provided by (used in) investing activities		235,212	57,065
Change in cash and cash equivalents during the
year		(593,445)	26,740
Cash and cash equivalents at the start of the year
		14,714,863	14,688,123
Cash and cash equivalents at the end of the year
		14,121,418	14,714,863
Reconciliation of net income to net cash flow from
operating activities
Net movement in funds		739,773	(60,674)
Adjustments for
Depreciation of tangible assets		3,059	7,960
Interest received		(263,716)	(58,614)
Decreace / (increase) in debtors		(90,326)	39,897
Increase / (decrease) in creditors		(1,217,447)	41,106
Net cash generated from operating activities		(828,657)	(30,325)

The notes on pages 33 to 40 form part of these financial statements.

33 THE NATIONAL FOUNDATION FOR YOUTH MUSIC ANNUAL REPORT AND ACCOUNTS 2023/24

Financial Statements

Notes to the accounts for the Year Ended 31 March 2024

Notes to the accounts

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 (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 to restructure, if for example a major funder was to withdraw. 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.

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.

Peoples Postcode Lottery grant 2023/24 was received as an unrestricted grant from the PPL Culture Trust Fund note 15.

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 6).

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.

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.

THE NATIONAL FOUNDATION FOR YOUTH MUSIC ANNUAL REPORT AND ACCOUNTS 2023/24

Financial Statements

Notes to the accounts for the Year Ended 31 March 2024

2. Donations and Legacies

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 and Legacies
	2024	2023
	£	£
Unrestricted
People’s Postcode Lottery	2,600,000	2,500,000
Levis	50,000	-
PayPal	30,000	-
Fred Again	13,895	-
Amazon	10,000	-
Heavy Music Awards	2,060	-
Vevo	1,000	-
Marshall Amplification plc	-	30,370
Resident Advisor	-	11,425
Media Blaze Group	-	8,950
PayPal Giving Fund	-	4,329
London Community Foundation	-	4,000
6 Bones Ltd	-	3,889
Cecil Pilkington	-	3,000
Other	204,603	133,055
	2,911,558	2,699,018
Restricted
Arts Council England	9,651,000	9,679,170
McDonalds	60,000	-
PPL UK	30,000	-
Alchemy Foundation	12,500	12,500
Ticketmaster	5,000	-
Spotify	-	20,566
Dr Martens	-	20,000
	9,758,500	9,732,236
Total voluntary income	12,670,058	12,431,254

35 THE NATIONAL FOUNDATION FOR YOUTH MUSIC ANNUAL REPORT AND ACCOUNTS 2023/24

Financial Statements

Notes to the accounts for the Year Ended 31 March 2024

4. Cost of charitable activities

3. Cost of raising funds

	2024	2024	2024	2023
	Direct	Allocated	Total	Total
			£	£
Cost of raising	148,357	72,593	220,950	207,623
funds
	2023	2023	2023	2022
	Direct	Allocated	Total	Total
			£	£
Cost of raising	131,653	75,970	207,623	232,809
funds

Current Year	2024	2024	2024	2024	2023
	Grants	Other direct	Allocated	Total	Total
	awarded &	costs	costs
	programmes		(note 5)
	costs	£	£	£	£
	£
Programmes	9,969,916	1,063,603	366,223	11,399,742	11,863,923
Capacity Building	450	377,854	195,253	573,556	479,529
Total	9,970,366	1,441,457	561,475	11,973,298	12,343,452
	2023	2023	2023	2023	2022
	Grants	Other direct	Allocated	Total	Total
	awarded &	costs	costs
	programmes		(note 5)
	costs	£	£	£	£
	£
Programmes	10,520,021	998,240	345,662	11,863,923	13,956,722
Capacity Building	-	312,183	167,346	479,529	202,396
Total	10,520,021	1,310,423	513,008	12,343,452	14,159,118

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.

THE NATIONAL FOUNDATION FOR YOUTH MUSIC ANNUAL REPORT AND ACCOUNTS 2023/24

Financial Statements

Notes to the accounts for the Year Ended 31 March 2024

5. Allocated support costs	2024	2024	2024	2024	2023
	Programmes	Capacity building	Cost of raising	Total	Total
			funds
	£	£	£	£	£
Governance
Staff costs	21,292	11,351	4,220	36,862	36,101
Audit	3,230	1,722	640	5,592	17,492
Other	476	254	94	824	-
Other support
Staff costs	78,195	41,690	15,500	135,385	133,573
External relations	8,169	4,355	1,619	14,143	3,166
Consultants and temporary staff	24,125	12,862	4,782	41,769	28,213
Central office	230,737	123,018	45,738	399,493	370,433
Total	366,223	195,252	72,593	634,068	588,978
	2023	2023	2023	2023	2022
	Programmes	Capacity building	Cost of raising	Total	Total
			funds
	£	£	£	£	£
Governance
Staff costs	21,187	10,257	4,657	36,101	33,734
Audit	10,266	4,970	2,256	17,492	14,400
Other	-	-	-	-	602
Other support
Staff costs	78,392	37,952	17,229	133,573	112,374
External relations	1,858	900	408	3,166	944
Consultants and temporary staff	16,558	8,016	3,639	28,213	22,906
Central office	217,401	105,251	47,781	370,433	318,796
Total	345,662	167,346	75,970	588,978	503,756

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 £627,188 (2023: £588,978) is split between allocations to the cost of raising funds and the cost of charitable activities as shown in notes 3 and 4 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.

THE NATIONAL FOUNDATION FOR YOUTH MUSIC ANNUAL REPORT AND ACCOUNTS 2023/24

Financial Statements

Notes to the accounts for the Year Ended 31 March 2024

6. Grants payable and grant liabilities

	2024	2023
	£	£
Grants approved to institutions	9,748,106	10,245,862
Grants approved to individuals	260,530	265,303
Grants not utilised by recipients,
written back	(148,364)	(87,575)
Net grant expenditure for the year	9,860,272	10,423,590
Grants approved but unpaid at 1 April	11,514,474	11,442,685
Payments made to grant recipients
during the year	(11,153,703)	(10,351,801)
Grants approved but unpaid at
31 March	10,221,043	11,514,474

Youth Music make grants to institutional recipients as well as individuals. Grants approved are usually 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 schedule showing a complete list of all grants made during the year is attached at the end of these financial statements as Appendix A.

7. Employee emoluments

7. Employee emoluments
	2024	2023
	£	£
Wages and salaries	1,063,976	969,316
Employer’s National Insurance	106,477	102,749
Pension contributions	103,902	95,269
	1,274,355	1,167,334
Other staff costs (including staff insurances)	55,992	48,739
	1,330,347	1,216,073
Employee emoluments in the band £60,000 - £70,000	1	1
Employee emoluments in the band £70,000 - £80,000	1	1
Employee emoluments in the band £90,000 - £100,000	1	-
Average number of employees during the year	28	26
Full time equivalent number of employees	2024	2023
Fundraising	2.9	3.0
Communications	7.8	6.7
Support	2.2	2.5
Programmes Staff	15.3	14.2
	28.2	26.4

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

No Trustees received reimbursement for costs incurred attending Trustee meetings (2023: no Trustees).

Key management personnel include the senior management team. The total employee benefits of the charity's key management personnel, including employer's NIC, were £342,897 (2023: £338,298).

THE NATIONAL FOUNDATION FOR YOUTH MUSIC ANNUAL REPORT AND ACCOUNTS 2023/24

Financial Statements

Notes to the accounts for the Year Ended 31 March 2024

8. Net income (expenditure) for the year

This is stated after charging:	2024	2023
	£	£
Operating leases – land and buildings	193,620	156,919
Depreciation	3,059	7,960
Audit fees (net of VAT)	16,775	14,577

9. Tangible fixed assets

9. Tangible fixed assets
	Website	Database	Computer &	Total
			electronic
			equipment
	£	£	£	£
Cost
At beginning of the year	-	27,804	151,679	179,483
Additions	24,550	-	3,954	28,504
At end of the year	24,550	27,804	155,633	207,987
Accumulated depreciation
At beginning of the year	-	27,804	146,201	174,005
Charge	-	-	3,059	3,059
At end of the year	-	27,804	146,260	177,064
Net book value at 31 March 2024	24,550	-	6,373	30,923
Net book value at 31 March 2023	-	-	5,478	5,478

10. Debtors

10. Debtors
	2024	2023
	£	£
Other debtors	169,223	83,856
Prepayments	52,173	47,214
	221,396	131,070

11. Creditors: amounts falling due within one year

	2024	2023
	£	£
Trade creditors	82,509	17,150
Taxation and social security	28,377	27,613
Accruals	71,495	66,160
Grants outstanding	6,715,994	6,907,534
Other creditors	13,575	15,012
	6,911,950	7,033,478

THE NATIONAL FOUNDATION FOR YOUTH MUSIC ANNUAL REPORT AND ACCOUNTS 2023/24

Financial Statements

Notes to the accounts for the Year Ended 31 March 2024

12. Creditors: amounts falling due after one year

	2024	2023
	£	£
Grants outstanding	3,511,021	4,606,940

Creditors falling due after one year consist of grant liabilities in respect of projects that are planned to run past March 2025 into later financial periods, i.e. Youth Music confirmed grants, which cover a period of more than one financial year.

13. Financial Commitments

	Land and	Land and
	Buildings 2024	Buildings 2023
	£	£
Operating lease payments due within	157,453	148,669
1 year
Operating lease payments due within	501,273	-
2-5 years

14. Restricted funds

14. Restricted funds
2024	Opening balance	Income	Expenditure	Closing balance
	£	£	£	£
ACE - Lottery	81,046	9,651,000	(9,732,046)	-
TikTok	71,707	-	(71,707)	-
Spotify	20,566	-	(20,566)	-
Dr Martens	16,595	-	(16,595)	-
McDonalds	-	60,000	(60,000)	-
PPL UK	-	30,000	(30,000)	-
Alchemy Foundation	-	12,500	(12,500)	-
Ticketmaster	-	5,000	(5,000)	-
Total restricted funds	189,914	9,758,500	(9,948,414)	-
2023
ACE - Lottery	-	9,679,170	(9,598,124)	81,046
Alchemy Foundation	-	12,500	(12,500)	-
TikTok	204,359	-	(132,652)	71,707
Spotify	-	20,566	-	20,566
Dr Martens	-	20,000	(3,405)	16,595
Total restricted funds	204,359	9,732,236	(9,746,681)	189,914

Arts Council England (ACE) – National Lottery Towards the costs of increasing music opportunities for children and young people in England as set out in an “agreed programme”.

McDonalds

Towards organising and delivering six community driven pilot schemes.

TikTok

PPL UK

Towards the NextGen Fund.

Spotify

Alchemy Foundation

Towards the NextGen Fund for LGBTQ+ creatives.

Towards the cost of Partnerships Manager.

Ticketmaster

Dr Martens Towards the NextGen Access Costs fund.

Youth Music Awards and NextGen Community Event Sponsorship.

THE NATIONAL FOUNDATION FOR YOUTH MUSIC ANNUAL REPORT AND ACCOUNTS 2023/24

Financial Statements

Notes to the accounts for the Year Ended 31 March 2024

16. Analysis of net assets between funds

15. Unrestricted funds

2024	Opening balance	Income	Expenditure	Transfers	Closing balance
	£	£	£	£	£
Designated - capital fund	5,478	-	-	25,445	30,923
Designated – PPL fund	1,589,128	2,500,000	(2,199,715)	-	1,889,413
General funds	1,426,473	675,521	(46,119)	(25,445)	2,030,430
Total funds	3,021,079	3,175,521	(2,245,834)	-	3,950,766
2023	Opening balance	Income	Expenditure	Transfers	Closing balance
	£	£	£	£	£
Designated - capital fund	11,889	-	-	(6,411)	5,478
Designated - PPL fund	1,667,139	2,500,00	(2,578,011)	-	1,589,128
General funds	1,388,280	258,165	(226,383)	6,411	1,426,473
Total Funds	3,067,308	2,758,165	(2,804,394)	-	3,021,079

The designated Capital Fund is equal to the cost of the Foundation’s fixed assets.

Fund balances at 31 March 2024 are represented by:

	Designated funds	General funds	Restricted funds	Total funds
	2024	2024	2024	2024
	£	£	£	£
Tangible fixed assets	30,923	-	-	30,923
Current assets	1,889,413	2,232,358	10,221,043	14,342,814
Liabilities	-	(201,928)	(10,221,043)	(10,422,971)
Total net assets	1,920,336	2,030,430	-	3,950,766

Fund balances at 1 April 2023 are represented by:

	Designated funds	General funds	Restricted funds	Total funds
	2023	2023	2023	2023
	£	£	£	£
Tangible fixed assets	5,478	-	-	5,478
Current assets	1,589,128	1,552,417	11,704,388	14,845,933
Liabilities	-	(125,944)	(11,514,474)	(11,640,418)
Total net assets	1,594,606	1,426,473	189,914	3,210,993

17. Related party transactions

There are no related party transactions (2023: None).

THE NATIONAL FOUNDATION FOR YOUTH MUSIC ANNUAL REPORT AND ACCOUNTS 2023/24

Financial Statements

Notes to the accounts for the Year Ended 31 March 2024

Appendix 1: List of grants to organisations

Organisation	Grant amount	Organisation	Grant amount
20Twenty Productions CIC	£15,000	Capsule Events	£13,400
Academy Achievers	£7,500	Cardboard Citizens	£29,397
anam creative	£29,940	Carousel	£25,902
Arc	£97,000	Changing Tunes	£29,500
ARCADE ARTS Ltd	£60,000	CHARIS Refugees	£29,808
Art Against Knives	£100,000	Chuckle Productions	£87,249
Aspire in Arts Ltd	£99,997	CHUMS	£98,290
Association of Independent Festivals	£30,000	Cirencester Housing for Young People	£24,123
(AIF)		Ltd
AutismAble CIC	£100,000	CLIP Sound and Music CIC	£49,760
B Sharp	£200,000	Come Play With Me	£15,000
Babigloo Music for Babies CIC	£100,000	Conscious Youth CIC	£27,807
Beat Routes	£199,200	CRE8	£7,392
BHT Early Education and Training	£100,000	Curious Arts	£28,956
Big Top Musical Adventures	£22,570	DaDaFest	£13,500
Blaze Arts	£27,613	Derbyshire County Counncil ~ City &	£75,000
		County Music Partnership
Blooming Blossoms Trust	£25,040
		Diversity Music Community 1st	£7,499
Blue Cabin	£150,000
		Drum Works CIC	£150,000
BlueBoxt Productions	£30,000
		Early Education	£99,645
Bullerengue Circle CIC	£15,000
		En Masse	£10,001
Buzzing Roots CIC	£20,826
		Endelienta Arts	£21,325
Cafe INDIEpendent Ltd	£149,781
		Enough Records	£30,000

Organisation	Grant amount
Entrust Support Services Ltd	£99,000
Families Together Suffolk	£26,641
Farrago Arts Limited	£30,000
Flash Company Arts Ltd. CIC	£29,650
Full House Theatre	£27,360
GemArts	£15,000
Global Grooves	£15,000
Gloucestershire Music	£30,000
Go Forward Youth	£30,000
Hammersmith, Fulham, Ealing &	£30,000
Hounslow Mind
Haringey Shed	£29,556
Hastings Fat Tuesday	£7,500
Head to Toe Charity	£7,500
High Grade Events Limited	£20,800
HQ Can CIC	£29,880
Ideas Test	£100,000
In Exeter Ltd	£30,000
In Music In Media Ltd	£100,000
Inspirate	£29,934
In-Spire Sounds	£100,000
Irene Taylor Trust Music in Prisons	£140,000
Jack Drum Arts	£150,000

THE NATIONAL FOUNDATION FOR YOUTH MUSIC ANNUAL REPORT AND ACCOUNTS 2023/24

Financial Statements

Notes to the accounts for the Year Ended 31 March 2024

Organisation	Grant amount	Organisation	Grant amount
Konnect Audio CIC	£29,478	Offshoots East Midlands C.I.C	£150,000
Leamington LAMP	£98,998	Open Door Charity	£25,000
Lifesize CIC	£7,500	OpenUp Music	£100,000
Link Learning LTD	£28,710	Parent Sanctuary CIC	£3,452
LIVING PROOF	£28,050	People Express	£27,600
London Rhymes Limited	£77,054	Platform B	£12,942
LOOSE	£7,500	Plymouth Music Zone	£150,000
Lowender CIO	£28,990	Positive Youth Foundation	£158,000
Maines-Beasley Creative Limited	£7,500	Prime Active Communities CIC	£30,000
Make Some Noise Limited	£30,000	Punch Records	£30,000
Meraki Liverpool Ltd	£23,364	Raw Material Music & Media	£99,903
Moogie Wonderland	£7,425	Remember Rhythm	£27,140
Mortal Fools	£23,280	Reprezent	£150,000
Music For Good	£15,000	Rockinghorse Children's Charity	£98,534
Music Go Round Ltd	£29,935	Royal Brompton & Harefield Hospitals	£100,000
		Charity
Music Leeds	£98,000
		Scarlet Community Music Club	£29,920
Music Worldwide Ltd	£29,110
		Seashell Trust	£11,304
My Pockets	£148,000
		SEND Project	£149,334
Nebula Productions Ltd	£29,680
		Sheffield Music School	£21,350
Northern Roots	£150,000
		Shropshire Music Service	£11,891
Notion Music Recordings Ltd	£15,995
		Small Green Shoots	£29,832
Nottingham Community Artist Network	£111,510

Organisation	Grant amount
Small Pond Recordings	£29,968
Soft Touch Arts	£29,460
Sound Communities CIC	£150,000
Sound Progression	£30,000
Soundcastle	£200,000
Soundplay Projects Ltd	£30,000
Southend YMCA	£99,732
Spectrum WASP	£29,690
Square Pegs Arts	£150,000
STEPS Club for Young People	£29,378
Suffolk Artlink	£150,000
Sussex Community Development	£9,304
Association (SCDA)
Tanayah Sam Sports and Education CIC	£29,364
Tandem Theatre	£30,000
TAVIP (Technology Association of	£17,596
Visually Impaired People)
Teen Action	£29,981
The Boom Dang Foundation	£21,376
The Bromsgrove Youth and Community	£7,500
Hub
The Bunker (Sunderland) CIC	£28,800

THE NATIONAL FOUNDATION FOR YOUTH MUSIC ANNUAL REPORT AND ACCOUNTS 2023/24

Financial Statements

Notes to the accounts for the Year Ended 31 March 2024

Organisation	Grant amount
The Creative Seed CIC	£29,800
The Flex Youth and Community Group	£28,992
The Lloyd Park Children's Charity	£30,000
The Seagull Lowestoft CIC	£29,612
The Trove Market C.I.C	£23,304
This Is Distorted	£30,000
TiPP	£150,000
Tomorrow's Warriors	£30,000
True Cadence CIC	£90,000
Ubuntu Multicultural Centre	£29,440
Union Chapel Project	£28,858
Unity Radio	£150,000
Untold Creative Training	£97,380
Up2stndrd	£28,690
Voluntary Norfolk	£149,980
Vulcan Centre	£30,000
Waves Music Therapy	£11,038
We Make Sound	£15,000
Wigan Youth Zone	£93,333
Wild Things Performing Arts CIC	£149,919
Winnall Rock School	£29,825

Organisation	Grant amount
YMCA East Surrey	£29,992
Yorkshire Sound Women Network	£29,925
Young Identity	£14,435
Young Women's Music Project (YWMP)	£29,597
Youth Engagement Solutions Ltd	£29,646

THE NATIONAL FOUNDATION FOR YOUTH MUSIC ANNUAL REPORT AND ACCOUNTS 2023/24

2024-03-31-accounts

2024

THE NATIONAL FOUNDATION FOR YOUTH MUSIC Report and Financial Statements 131 March 2024THE NATIONAL FOUNDATION FOR YOUTH MUSIC ANNUAL REPORT AND ACCOUNTS 2023/24

Contents

PART ONE: Introduction

PART TWO: Trustee's Report

PART THREE: Auditor's Report and Financial Statements

PART 1 Introduction 3 THE NATIONAL FOUNDATION FOR YOUTH MUSIC ANNUAL REPORT AND ACCOUNTS 2023/24

Reference and Administrative Details

Chair and CEO Introduction

Objectives & Activities

Data and evidence

Outcomes

Who We Worked With

Age

Ethnicity

Gender Identity

Who We Worked With

Barriers to participation

Genres explored

Case study: Concerteenies

Case Study: Circle of Light

Who received a grant

Case study: Meduulla

Case study: Alexander West

Case study

Achievements and Performance

OUTCOME 1: Equalise Access and Outcomes for Children and Young People

Champion Youth Voice

Our Strategic Framework

Invest Equitably

Investment Overview

Where We Invested

Application and Success Rates

Close Gap from Learning to Earning

Application and Success Rates

“

70% said they’d made industry connections at the event.

OUTCOME 2: Empower Projects and Professionals to Survive and Thrive

Inspire Progressive Practices

Learning and Development

– Exchanging Notes attendee.

– Exchanging Notes attendee.

Flexible Funding

How We're Doing (Funder Principles)

OUTCOME 3: Inspire Change Amongst Creative Ecosystem Join Forces to Increase Impact

“

Partners

– Andrew Parson, Managing Director, Ticketmaster UK.

Ambassadors

Secure Income

Partnerships

Real Living Wage

– Lianna Etkind, Partnerships & Campaigns Manager, Living Wage Foundation.

Position as Changemaker

Alumni

Artificial Intelligence

Impact of cost-of-living crisis

Lyrics and Wellbeing

Future Plans

Youth Music Strategic Framework 2023 - 2026

Vision

Mission

Governance and

Accounts

Structure, governance and management

Detailed administration information

Executive team

Employment policies

Pay policy for senior staff

Governance and Accounts

Reserves Policy 2024

Level of Reserves

Unrestricted Reserves

Designated Reserves

Other unrestricted reserves

Governance and Accounts

STRATEGIC REPORT

Achievements and performance

Fundraising