**BRITISH YOUTH MUSIC THEATRE** 

## **British Youth Music Theatre Annual Report and Statement of Accounts** 

**-------------------------** 

Year ended 31st December 2025 

www.britishyouthmusictheatre.org 

**REGISTERED NUMBER:  04985332 (England and Wales)** 



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## **BRITISH YOUTH MUSIC THEATRE** 

## **CONTENTS** 

|Trustees’ Report|4 - 15|
|---|---|
|Independent Auditors’ report|16 -18|
|Consolidated Statement of Financial Activities|19|
|Balance Sheet|20|
|Consolidated Statement of Cash Flows|21-22|
|Notes of Accounts|23-28|



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**BRITISH YOUTH MUSIC THEATRE** 

## **COMPANY INFORMATION** 

**TRUSTEES:** 

Simon Millson OBE - Chair Rachel Cox (from 30/09/2025) Elaine Grant (from 30/09/2025) Jimmy Jewell (to 09/12/2025) Roger Jones Lexine Lee Rebecca Nice (from 30/09/2025) Sarah Share (from 30/09/2025) Aniela Shuckburgh Philip Siddle Lucy Stocks (to 30/09/2025) Francesca Unsworth Jackson Used (from 30/09/2025) 

**SENIOR MANAGEMENT** : Chief Executive & Creative Emily Gray Director 

**REGISTERED OFFICE:** Yorkshire Dance, 3, St Peter’s Square Leeds, LS9 8AH **BANKERS:** NatWest plc Bank House 1 Belvedere Grove Wimbledon SW19 7RQ 

**INDEPENDENT AUDITORS:** George Hay & Company, 83 Cambridge Street Pimlico London SW1V 4PS 

**REGISTERED CHARITY:** 1103076 (England and Wales) **REGISTERED CHARITY:** SC039863 (Scotland) **REGISTERED COMPANY:** 04985332 (England and Wales) 

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## BRITISH YOUTH MUSIC THEATRE 

## **Trustees’ Report For the year ended 31 December 2025** 

The Trustees (who are also directors of the company) present their report, together with the audited financial statements of the Charitable Company for the year ended 31 December 2025. 

## **Introduction** 

BYMT Values are: 

- Being inclusive and making everything we do accessible 

- Taking responsibility for developing and nurturing collaborative processes 

- Inspiring environmental responsibility within our staff and young people 

- Creating space for young people and artists to value their voice 

- Committing to making new work through new approaches 

## **Objects of the Charity** 

The objects of the Charity are to promote, maintain, improve and advance the education and training principally, but not exclusively, of children and young persons by their participation and involvement with all aspects of performance of educational musical productions including theatre, dance, drama, music, singing, literature, sculpture and painting and the encouragement of the Arts generally. 

## **Meeting British Youth Music Theatre’s Objectives.** 

1. Opportunities for children and young people to participate in new musical productions: 

   - 6 new musical productions developed and performed in professional theatres across the UK; 225 in the Young Company, 75% female, 22% male, 3% non-binary, with 52% returning from previous BYMT activity. 

2. Advancing the development of creative ideas and performing arts skills through camps: 

   - 6 week-long residential camps including skills development and idea generation for new stories to be told through musical theatre. Adaptations of stories and historical events, as well as brand new creations, for 189 young people, with 85% new to BYMT. 

3. Improving education and training in the performing arts through workshops in schools: 

   - 13 Discover Music Theatre (DMT) workshop days in schools, introducing theatre skills, developing new ideas for musicals and awareness of career pathways for 762 young people; 3 DMTs in Levelling Up for Culture Places, 1 with SEND community group and 1 with a group of asylum seekers. 

4. Improving arts employability prospects for early-career creative and technical theatre makers: 

   - 18 creative work placements (CWPs) and training on productions for early career Assistant Musical Directors, Assistant Designers, Assistant Stage Mangers, Assistant Directors. 

5. Maintaining partnerships throughout the UK to enhance the experience of young people in participatory arts activity. Partners including: 

   - The National Youth Music Organisations (NYMOs), 

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## BRITISH YOUTH MUSIC THEATRE 

   - Venues across the UK (The Lowry Salford, Southwark Playhouse, Birmingham Hippodrome, Barnfield Theatre Exeter, Carriageworks Leeds) 

   - Higher Education providers (Mountview, Leeds Conservatoire, ArtsEd) 

   - Industry (Musical Theatre Network, Mercury Musical Developments, UK Theatre) 

   - Funders (Arts Council NPO, NASUWT, John Ellerman Foundation, Garfield Weston, Backstage Trust) 

6. Ensuring access for young people from underrepresented communities via Access to the Arts: 

   - Securing £58,222 in funds through grant applications and fundraising campaigns 

   - Auditions online and in person in 16 places, plus workshop auditions in 11 schools 

   - Bursary awards and free supported places for 60 young people, with an increase in bursary awards to 95% of fees 

   - Maintained level of 35% of young people engaged from underrepresented backgrounds 

   - • Partnerships with Flip the Script disability group, CARAS youth group plus Carers UK, offering young carers a creative and necessary break from their caring duties over the school holidays 

7. Development of governance to ensure charitable objectives are delivered • Recruitment of 5 new Board members 

   - Advisor/Consultants to the Board in Finance and Inclusivity 

   - Board Champions for Inclusivity, Environmental Responsibility, Dynamism and Quality 

8. Financial Controls sustained by the Senior Management Team resulted in 

   - Reserves being built up in line with the policy 

   - Cashflow well maintained 

## **Mission** 

Our mission is to empower young people to discover and shape their creative potential through lifechanging, inclusive theatre experiences that nurture individuality, collaboration and self-expression in the making of new work. 

We envisage a transformed musical theatre sector where a bold, diverse, and collaborative generation of creators redefine who makes musicals and how they are made. 


The Naughty Carriage on the Orphan Train, Birmingham Hippodrome, April 2025 

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## BRITISH YOUTH MUSIC THEATRE 

## **Overview of 2025** 


Worn Out, Lowry, Salford, August 2025 

In 2025, BYMT established its new base in Leeds, with a successful Welcome to Leeds Event in the Conservatoire, at which Mayor Tracy Brabin and Vice Principal Patsy Gilbert gave warm welcoming speeches and performances were delivered by BYMT alumni, current Young Company members and Conservatoire students. The new website was launched in June, and the Company delivered a successful season of new musicals, developed with 25 writers, composers and lyricists. This year saw writers Packham and Kealy take up a Cameron Mackintosh Writing Residency with BYMT. 

The year began with an Audition tour to 16 cities in the UK and Ireland, which engaged 611 young performers and musicians in workshops and developed their performance skills. The 2025 Season Productions were programmed by the Young Company Panel and included The Naughty Carriage On The Orphan Train at Birmingham Hippodrome, a poignant true story of the Orphan Trains, exploring found family and belonging, Worn Out, a retelling of the 12 Dancing Princesses at The Lowry, Sense and Sensibility a witty, musical adaptation of the Jane Austen novel at Exeter Barnfield, Theo In Between at Leeds Carriageworks, a new narrative exploring non-binary identity in a small English town, Choreomania, a movement inspired exploration of the 1518 dancing plague at Birmingham Hippodrome. Our New Music Theatre Award winning show, The Glamification of Loki played at Southwark Playhouse in London. Press activity for the above was strong, with over 70 published press pieces covering the season. 

Six development camps included Upskill, a week specifically supporting 16+ year old’s auditioning for drama schools, conservatoires, colleges and universities. The camps explored stories including 

6 



## BRITISH YOUTH MUSIC THEATRE 


Burning Down, York Summer Camp, August 2025 

reinterpretations of known tales, Peter Pan and Rumpelstiltskin, an eco-fantasy adventure about bees, historical events including the Suffragettes and the Bling Ring, plus a musical interpretation of a fantastical YA novel. Each camp concluded with a showcase performance, attended by a live audience and assessed by Mountview Exams for participants’ Grade 6 certification. 

Events outside the productions and camps included marching in Leeds Pride with alumni, creatives, staff and students, performing around the city at Leeds Piano Trail, Carol singing in Leeds and London and engaging Young Company members in events and panels, such as pitches for the New Music Theatre Award. 

Our Discover Music Theatre (DMT) workshops took place in community groups as well as schools across the UK, developing relationships in Levelling Up for Culture Places. The majority of these workshops engaged participants in developing material for the Season shows; our writing teams were also given development opportunities at Leeds Conservatoire and ArtsEd. 

This was the first year that BYMT partnered with Mountview on their MX Exams, a brand-new syllabus with our season as the first to be adjudicated in group Musical Theatre qualifications. 402 MX qualifications were awarded across productions and camps, with Choreomania as the highest scoring production (Distinction - 88%) and the Upskill camp scoring 85%.  162 freelancers,  41% with protected characteristics, were employed to deliver the creative and technical elements of the season, with the support of 48 pastoral staff. 18 early-career theatre makers were employed on Creative Work Placements, 75% with protected characteristics. 

BYMT offered creative opportunities to a consistent level of underrepresented young people, which was 35% in 2024 and 2025. 

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## BRITISH YOUTH MUSIC THEATRE 

140 young performers and musicians took part in Let It Snow, our annual winter concert, which was held at Woolwich Works for the first time, performed in front of a live audience of over 300. The evening was opened by our patron Grace Mouat and was a wonderful celebration of the 2025 Season, which was reviewed positively by industry writers. 

2025 saw the third year of the Arts Council NPO cycle, with reporting against the aims of the ACE Let’s Create strategy. As part of the ACE Transfer Programme, BYMT settled into its head office in Yorkshire Dance, located in the cultural quarter of Leeds. Whilst our offer to participants and audiences remained the same across the country, BYMT developed its partners in West Yorkshire, including Leeds International Piano Competition, Leeds 33, the local council and combined authority, Culture Consortium Leeds and Leeds Conservatoire, continuing to build a northern home for new musical theatre-making. 

The 2025 season demonstrated that BYMT is continuing to grow in reach, influence, and impact. Over 200 pieces of social media content collectively gained over 1 million views and press activity was strong. Exceeding ticket sales targets and achieving exceptional digital engagement show continued fostering of a loyal community online, whilst reaching out to new audiences. Towards the end of the year, BYMT was nominated for a number of awards, including Team of the Year for our Marketing staff, at The Stage Awards. 

Financially, the Company maintained strong cashflow and a surplus at the end of the year to contribute to a growing reserve. Arts Council England remained the most significant funder for BYMT and the Company benefitted from being part of the network of National Youth Music Organisations. New funders in the year were the Regional Creatives Fund and the Austin and Hope Pilkington Trust. In December, BYMT took on the campaign of raising £20k through the Big Give Christmas Challenge; fundraising efforts included a non-stop dancethon of ten hours by the core staff team, carol singing in Leeds and London by Young Company members, fundraising by Young Company Panel members and overwhelming support from board members, parents, friends and stakeholders. 

2025 financially reflects a different year to 2024 in terms of lower income and expenditure; this is due to our 20th Anniversary in 2024, when we delivered an additional show, a highly successful production in Belfast, an outdoor performance and a gala, to celebrate the anniversary. 

By the end of the year, BYMT showed a surplus of £25,605 and retained cash at the bank. 

The Company wishes to express its sincere gratitude to all its funders for ongoing support during the year: Arts Council England; the UK-wide teachers’ union, NASUWT; Backstage Trust, John Ellerman Foundation, Garfield Weston Foundation; education provider S2E and the Big Give, as well as many individuals and donating bodies who gave so generously. 

The Board said farewell to longstanding Trustee Jimmy Jewel and undertook an extensive recruitment process, resulting in the appointment of 5 new Board members; **Rachel Cox** , Chief People Officer at 

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## BRITISH YOUTH MUSIC THEATRE 

Low Carbon Contracts Company, Leeds, **Elaine Grant** , Director at Elaine Grant Creative Arts Consulting, **Rebecca Nice** , Prime Financial Services Sales, Commercial & Investment Bank, VicePresident at J.P.Morgan, London, **Sarah Share** , Assistant Head at Leicestershire Music, **Jackson Used** , Artistic Development Associate at Concord Theatricals. There were Board Champions for ACE’s Investment Principles, Inclusivity & Relevance, Environmental Responsibility, Dynamism and Ambition & Quality, who reported as required. In 2026 we will be recruiting a new Chair of the Board and a subcommittee of current trustees will lead this process. 

Looking forward, 2026 will be the year BYMT delivers localized projects in West Yorkshire, as well as working with around 30 writers to build a national programme of new musical theatre. BYMT will continue to strengthen its staff and Board through training, detailed discussion with the Young Company Panel and Artistic Associates, data-led decision-making and productive partnerships. Fundraising will be a challenge in 2026, as a number of multi-year grants come to an end and the climate for raising funds becomes ever more competitive; a dynamic strategy, diversification of income streams and improved impact reporting will help with this challenge. We will ensure that the creative opportunities we deliver will be in the best interests of BYMT and the young people on our programmes and for the sustainability and success of new music theatre in this country. 


_Sense & Sensibility,_ Barnfield Theatre, Exeter, August 2025 

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## BRITISH YOUTH MUSIC THEATRE 


_Theo in Between,_ Carriageworks Theatre, Leeds, August 2025 

## **Offices and Facilities** 

Head Office: Yorkshire Dance, 3 St Peter’s Square, Leeds LS9 8AH London Office: Mountview,120 Peckham Hill Street, London, SE15 5JT 

## **Management structure and staffing** 

|**Management structure and staffing**||
|---|---|
|||
|**Executive and Operations**||
|Chief Executive & Creative Director|Full time|
|Producer|Full time|
|Production and Engagement Associate|Part Time|
|Casting & Young Company Manager|Full time|
|Finance Director|Part time|
|Welfare Manager|Part time|
|**Marketing and Development**||
|Head of Development|Full time|
|Marketing Manager|Full time|
|Marketing & Content Coordinator|Full time|



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## BRITISH YOUTH MUSIC THEATRE 

BYMT was supported throughout the year by a number of short-term volunteers and student placements. The Trustees would like to express thanks to all of them and offer best wishes in their future careers. 

## **Continuance of Trading** 

2025 was a successful year for fundraising. The Company made a surplus, having reduced debts and increased income, particularly through Theatre Tax Relief. 

## **Reserves Policy** 

The Trustees aim to maintain free reserves in unrestricted funds up to a value of £175,000, which equates to approximately six months of overhead and salary contributions and would allow BYMT to provide reduced delivery of the usual offer. The reserves policy will be reviewed on an annual basis. 

## **Company Policies** 

BYMT complies with all statutory required polices; these can be requested via the BYMT website www.britishyouthmusictheatre.org 



**----- Start of picture text -----**<br>
The Glamification of Loki, Southwark Playhouse, August 2025<br>**----- End of picture text -----**<br>


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## BRITISH YOUTH MUSIC THEATRE 

## **Fundraising** 

## **Public Grants** 

Arts Council England continued their support of BYMT as a National Portfolio Organisation (NPO) and made up for the short fall of the Department for Education withdrawing their funding from all of the National Youth Music Organisations (NYMOs). 

**Individual support:** We secured £22,506 in private individual donations, from our regular ‘Friend’ supporters and one-off donations, plus £20,000 from the Big Give, which is the highest amount of donations received since 2020. 

**Trusts and Foundations:** We raised £248,864 over the year; continuing multi-year grants were from Garfield Weston Foundation (£25k for two years) Backstage Trust (£50,000 a year for the next year) towards Access to the Arts (outreach, bursaries and supported places), John Ellerman Foundation (£30,000 a year for the next year) towards core costs. Other grants we secured included the Regional Creatives Fund, St. James’ Trust, D’Oyly Carte Charitable Trust, Noel Coward Foundation, Austin & Hope Pilkington Trust and Boris Karloff Charitable Foundation. 

Funds from S2E (Surveyors to Education) were specifically to support arts education in schools across the country for young people and teachers’ continuing professional development. 

**Corporate Donation** : The Teaching Union NASUWT remained our principal supporter, with £15,000 as well as in kind support. 


Choreomania, Birmingham Hippodrome, August 2025 

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## BRITISH YOUTH MUSIC THEATRE 

## **Public Grants** 

## **Trusts & Foundations** 

Arts Council England 

Backstage Trust John Ellerman Foundation Garfield Weston Foundation Regional Creatives Fund Noel Coward Foundation D’Oyly Carte Charitable Trust St. James’ Trust Austin & Hope Pilkington Trust Boris Karloff Charitable Foundation 

## **Friends** 

Alastair Roberts Regional Creatives Fund Barry Anns Noel Coward Foundation Emma Shaw D’Oyly Carte Charitable Trust Helen Dayananda St. James’ Trust Kate Suh Austin & Hope Pilkington Trust Francesca Stuckey Howard Jeff Stratford Simon Millson **Supporters** Tim Sawers Aniela and Ed Shuckburgh Sarah Double Sir Paul McCartney Fern Stoner Royce Bell Rebecca Nice The Agency 

**Principal Supporter** NASUWT 

## **Sponsors** 

Surveyors to Education 

**With our additional thanks to** all schools, colleges, companies, local organisations and individuals who have made donations to individual course fees or sponsored our young people. 


Let it Snow, Woolwich Works, December 2025 

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## BRITISH YOUTH MUSIC THEATRE 

## **Trustees** 

## **Structure, Governance and Management** 

## **Governing Document** 

British Youth Music Theatre is a company limited by guarantee governed by its Memorandum and Articles of Association incorporated on 4 December 2003 and the revised version of articles adopted on 28 June 2010 and further updated Articles adopted on 5[th] July 2022. The Company is registered with the Charity Commissions of both England and Scotland. 

## **Appointment of Trustees** 

As stated in the Articles of Association, the Board of Trustees may appoint to the Board by a simple majority vote such persons as they consider suitable to be co-opted Trustees. Every person wishing to become a Trustee will be required to sign a declaration of acceptance and of willingness to act as a Trustee, and consent to become a Member, in the form prescribed by the Board of Trustees.  The Chair shall be appointed or removed by a majority of the Trustees. 

Trustees can serve a 6-year term, made up of 2 x 3 years, with a review after the first 3 years. If there are specific circumstances in which it would be beneficial for the Trustee to remain on the Board, they may do so for an additional 3 years. 

## **Trustee induction and training** 

New Trustees undergo an orientation meeting with the Chair on recruitment, which includes a briefing on their legal obligations under charity and company law. All relevant documents, articles, business plans, policies etc. are kept in an online folder for all Trustees to view when necessary. 

## **Organisation** 

The Board of Trustees, which can have up to 20 members, administers the charity. The Board meets quarterly and there are sub-committees covering development and finance, which also meet quarterly. During 2025 the Board met four times in person, with online meetings for the Finance Sub Committee and Development Sub Committee prior to each Board meeting. 

The Chief Executive & Creative Director is appointed by the Trustees to manage the day-to-day operations of the charity, along with the Senior Management Team (Finance Director) and the staff team. 

## **Risk Management** 

The Trustees have a risk management strategy which comprises short-term risks (over the next 3 months) and longer-term risks (two years ahead) with mitigation for the risks and clarity on where responsibilities lie. In 2025, the senior team installed new elements to the Risk Register and process of articulating and analysing risk; before each Board meeting the staff discuss the most pressing risks, 

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## BRITISH YOUTH MUSIC THEATRE 

which are then reported to the Board. There is a new traffic light system in place, which the Board discuss and adapt at meetings through 

- systems and actions to mitigate risks identified in the register 

- the implementation of procedures designed to minimize any potential impact on the charity should risks materialize. 

## **Statement of Directors’ responsibilities** 

The Trustees (who are also directors of British Youth Music Theatre for the purposes of company law) are responsible for preparing the Trustees’ Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). 

Company law requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and of the surplus/deficit of the charitable company for that year. In preparing those financial statements, the Trustees are required to: 

- select suitable accounting policies and apply them consistently; 

- observe the methods and principles in the Charities SORP (FRS 102); 

- make judgements and estimates that are reasonable and prudent; 

- state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; and 

- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue to operate. 

The Trustees are responsible for keeping proper accounting records which 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 Companies Act 2006. In addition, the Directors are responsible for safeguarding the assets of the Company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. 

## **ON BEHALF OF THE BOARD** 


## **SIMON MILLSON CHAIR** 

Dated:  17[th] April 2026 

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**BRITISH YOUTH MUSIC THEATRE** 


## **REPORT OF INDEPENDENT AUDITORS TO THE MEMBERS OF BRITISH YOUTH MUSIC THEATRE** 

## **Opinion** 

We have audited the financial statements of British Youth Music Theatre (the 'Charitable Company') for the year ended 31st December 2025 which comprise the Statement of Financial Activities, the Balance Sheet, the Cash Flow Statement and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). 

In our opinion the financial statements: 

- give a true and fair view of the state of the Charitable Company's affairs as at 31st December 2025 and of its incoming resources and application of resources, including its income and expenditure, for the period 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 Auditors responsibilities for the audit of the financial statements section of our report. We are independent of the Charitable Company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. 

## **Conclusions relating to going concern** 

In auditing the financial statements, we have concluded that the Trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate. 

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

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

16 



## **BRITISH YOUTH MUSIC THEATRE** 

## **Other information** 

The Trustees are responsible for the other information. The other information comprises the information included in the annual report, other than the financial statements and our Report of the Independent Auditors thereon. 

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 themselves. 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. 

## **Opinion 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 Report of the Trustees for the financial year for which the financial statements are prepared is consistent with the financial statements; and 

- the Report of the Trustees has 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 Report of the Trustees. 

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

- adequate accounting records have not been kept or returns adequate for our audit have not been received from branches not visited by us; or 

- the financial statements are not in agreement with the accounting records and returns; or 

- certain disclosures of Trustees' remuneration specified by law are not made; or 

- we have not received all the information and explanations we require for our audit; or 

- the Trustees were not entitled to take advantage of the small companies’ exemption from the requirement to prepare a Strategic Report or in preparing the Report of the Trustees. 

## **Responsibilities of trustees** 

As explained more fully in the Statement of Trustees Responsibilities, the Trustees (who are also the Directors of the Charitable Company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the Trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. 

In preparing the financial statements, the Trustees are responsible for assessing the Charitable Company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the Trustees either intend to liquidate the Charitable Company or to cease operations, or have no realistic alternative but to do so. 

17 



BRITISH YOUTH MUSIC THEATRE
I￿r responslbiliti•s for the audit of th• financiil statem•nts
Our objectNes 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 a Report of the IndependentAuditors
that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an
audit condurted in accordance with ISAS (UK) will always detect a material misstatement when it exists.
Misststements can arise from fraud or error and are considered material rf, individualty or in the aggregate,
they could reasonably be expected to influence the economic decisions of users taken on the basis of these
financial ststements.
Irregularities, including fraud, are instances of non-compliance with lav￿ and regulations. We design
procedures in line with our responsibilities. OLrtlined above, to detect material misstatements in respert of
irregularrf(ies, including fraud. The extent to which our procedu￿$ are capable of detecting irregularities
including fraud is detsiled below:
Based on our understanding of the Charitable Companys operations, we identified that the principal risks of
non-compliance with laws and regulations relate to grant applications and complying with Charty regulations
in general. We considered the extent to which r￿n-Compliance might have a material effect on the financial
statements.
We evaluated management's incentNes and opportunities for fraudulent manipulation of the financial
statements (including the risk of override of controls),. and determined there were no principal risks directly
imparting the Charrtable Company's revenue and management bias in accounting estimates.
Audit procedures performed by the engagement team included:
Discussions with management including consideration of known or susperted instances of non-
compliance with laws and regulation and fraud,.
Evaluating management's controls designed to prevent and detert irregularities",
Identifying and testing transactions and balances, in particular those with unusual account
combinations or with unusual descriptions.. and
Challenging assumptions and judgements made by management in their critical accountiNJ
estimates.
A further description of our responsibilities for the audit of the financial statements is located on the Financial
Reporting Council's website at www.frc.org.uklauditorsresponsibilities. This description forms part of our
Report of the Independent Auditors.
Use of our report
This report is made solety 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 stste to them in an audTtors' report and for
no other puT￿e. To the fullest extent pemitted by law. we do not accept or assume resp)nsibility to anyone
other than the Charitsble Company and the Charitable Company's members as a body, for our audit wort
for this repor¢ or for the opinions we have formed.
Andrew PC Fox FCA
Ststutory audltor
For and on behalf of
Geory• Hay & Company.
ststutory Auditor
Chartered Accountants
83 Cambridge Street
Pimlico
London SW1V 4PS
D•tr. 17th April 2026
18

## **BRITISH YOUTH MUSIC THEATRE** 

## **STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2025** 

|**Notes**<br>**Income from:**<br>Grants and donations<br>Charitable activities<br>**Total income**<br>**3**<br>**Expenditure on:**<br>Charitable activities<br>**4**<br>Fundraising<br>**5**<br>**Total expenditure**<br>**Net income/ (expenditure)**<br>**Net movement in funds**<br>Total funds brought forward<br>**Total funds carried forward**<br>**15**|**Restricted**<br>**2025**<br>**Restricted**<br>**2024**<br>**Funds**<br>**Funds**<br>**Total**<br>**Funds**<br>**Funds**<br>**Total**<br>**£**<br>**£**<br>**£**<br>**£**<br>**£**<br>**£**<br>289,703<br>73,555<br>363,258<br>297,749<br>102,700<br>400,449<br>911,880<br>-<br>911,880<br>1,076,047<br>-<br>1,076,047<br>**1,201,583**<br>**73,555**<br>**1,275,138**<br>**1,373,796**<br>**102,700**<br>**1,476,496**<br>1,131,708<br>73,555<br>1,205,263<br>1,298,945<br>102,700<br>1,401,645<br>44,270<br>-<br>44,270<br>45,951<br>-<br>45,951<br>**1,175,978**<br>**73,555**<br>**1,249,533**<br>**1,344,896**<br>**102,700**<br>**1,447,596**<br>**25,605**<br>**-**<br>**25,605**<br>**28,900**<br>**-**<br>**28,900**<br>72,600<br>-<br>72,600<br>43,700<br>-<br>43,700<br>**98,205**<br>**-**<br>**98,205**<br>**72,600**<br>**-**<br>**72,600**<br>**Unrestricted**<br>**Unrestricted**|
|---|---|



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 21 to 28 form part of these accounts. 

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## **BRITISH YOUTH MUSIC THEATRE** 

## **BALANCE SHEET AS AT 31 DECEMBER 2025** 

|**Notes**<br>**FIXED ASSETS**<br>Tangible assets<br>**10**<br>**CURRENT ASSETS**<br>Stock<br>Debtors<br>**11**<br>Cash at bank and in hand<br>**CREDITORS: amounts falling**<br>**due within one year**<br>**12**<br>**NET CURRENT LIABILITIES**<br>**TOTAL ASSETS LESS**<br>**CURRENT LIABILITIES**<br>**CREDITORS: amounts falling**<br>**due after more than one year**<br>**13**<br>**NET ASSETS**<br>**Represented by:**<br>**Unrestricted funds**<br>**14**|**Notes**<br>**FIXED ASSETS**<br>Tangible assets<br>**10**<br>**CURRENT ASSETS**<br>Stock<br>Debtors<br>**11**<br>Cash at bank and in hand<br>**CREDITORS: amounts falling**<br>**due within one year**<br>**12**<br>**NET CURRENT LIABILITIES**<br>**TOTAL ASSETS LESS**<br>**CURRENT LIABILITIES**<br>**CREDITORS: amounts falling**<br>**due after more than one year**<br>**13**<br>**NET ASSETS**<br>**Represented by:**<br>**Unrestricted funds**<br>**14**|**Restricted**<br>**fund**<br>**£**<br>**£**<br>13,200<br>-<br>-<br>7,546<br>-<br>268,533<br>-<br>380<br>-<br>276,459<br>-<br>(161,454)<br>-<br>**115,005**<br>**-**<br>**128,205**<br>**-**<br>**(30,000)**<br>**-**<br>**98,205**<br>**-**<br>**98,205**<br>**-**<br>**Unrestricted fund**<br>**2025**|**Total**<br>**Funds**<br>**£**<br>13,200<br>7,546<br>268,533<br>380<br>276,459<br>(161,454)<br>**115,005**<br>**128,205**<br>**(30,000)**<br>**98,205**<br>**98,205**|£<br>£<br>3,223<br>5,903<br>270,722<br>12,231<br>288,856<br>(184,758)<br>104,098<br>107,321<br>(34,721)<br>72,600<br>72,600<br>**Total Funds**<br>**2024**|
|---|---|---|---|---|
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These financial statements have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to charitable small companies. 

The financial statements were approved by the Board of Trustees on 17th April 2026 and were signed on its behalf by: 


**SIMON MILLSON Chair of the Board of Trustees** 

The notes on pages 21 to 28 form part of these accounts. 

20 



## **BRITISH YOUTH MUSIC THEATRE** 

## **CASH FLOW STATEMENT FOR THE YEAR ENDED 31ST DECEMBER 2025** 

|Notes<br>**Cash flows from operating activities**<br>Cash generated from operations<br>1<br>Net Cash provided by/(used in) operating activites<br>**Cash flows from investing activities**<br>Purchase of tangible fixed assets<br>Net Cash provided by/(used in) investing  activites<br>**Cash flows from financing activities**<br>Loan repayments made during the year<br>Net cash provided by financing activities<br>**Change in cash and cash equivalents in**<br>**the reporting period**<br>**Cash and cash equivalents at the**<br>**beginning of the reporting period**<br>2<br>**Cash and cash equivalents at the end of**<br>**the reporting period**<br>2|2025<br>2024<br>£<br>£<br>9,370<br>18,934<br>9,370<br>18,934<br>(16,500)<br>-<br>(16,500)<br>-<br>(4,721)<br>(12,917)<br>(4,721)<br>(12,917)<br>(11,851)<br>6,017<br>12,231<br>6,214<br>380<br>12,231|
|---|---|



21 



## **BRITISH YOUTH MUSIC THEATRE** 

**NOTES TO THE CASH FLOW STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025** 

## **1. RECONCILIATION OF NET INCOME/(EXPENDITURE) TO NET CASH FLOW FROM OPERATING ACTIVITIES** 

|**Net income/(Expenditure) for the reporting period (as per**<br>**the statement of financial activites)**<br>Adjustments for:<br>Depreciation charges<br>(Increase)/decrease in stocks<br>Decrease/(increase) in debtors<br>Increase/(decrease) in creditors<br>**Net cash provided by (used in) operating activities**<br>**2.**<br>**ANALYSIS OF CASH AND CASH EQUIVALENTS**<br>Notice deposits (less than 3 months)<br>Overdrafts included in bank loans and overdrafts falling in one year<br>**Total cash and cash equivalents**<br>**3. ANALYSIS OF CHANGES IN NET DEBT**<br>**At 01.01.25**<br>**£**<br>**Net Cash**<br>Cash at bank<br>12,231<br>Bank Overdraft<br>-<br>12,231<br>**Debt**<br>Debts falling due within and after one year<br>(44,166)<br>**Total**<br>(31,935)|**2025**<br>**2024**<br>**£**<br>**£**<br>25,605<br>28,900<br>6,524<br>4,417<br>(1,643)<br>-<br>2,189<br>(28,983)<br>(23,305)<br>14,600<br>9,370<br>18,934<br>**2025**<br>**2024**<br>**£**<br>**£**<br>380<br>12,231<br>-<br>-<br>380<br>12,231<br>**Cashflow**<br>**At 31.12.25**<br>**£**<br>**£**<br>(11,851)<br>380<br>-<br>-<br>(11,851)<br>380<br>10,000<br>(34,166)<br>(1,851)<br>(33,786)|
|---|---|



22 



**BRITISH YOUTH MUSIC THEATRE** 

## **NOTES TO FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025** 

## **1. Statutory Information** 

British Youth Music Theatre is a private company, limited by guarantee, registered in England and Wales. In the event of the charity being wound up, the liability in respect of the guarantee is limited to £1 per member of the charity. The Company's registered number and registered office address can be found on the Company Information page. On 19[th] September 2019 the charity officially changed its name to British Youth Music Theatre. 

## **2. Accounting policies** 

## **Basis of preparing the financial statements** 

The financial statements of the Charitable Company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) '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) (effective 1 January 2015)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention Assets and liabilities are initially recognised at historical cost or transaction value. 

## **Income** 

All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably. 

Income is accounted for on a receivable basis and includes invoiced sales, together with donations and grants. 

Donations and grants receivable in the year are included within income, unless they were received for a specific event which has not yet taken place.  In this circumstance they have been carried forward and included within accruals and deferred income. 

## **Expenditure** 

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources. 

## **Tangible fixed assets** 

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life. 

Equipment, fixtures & fittings - 33% on cost Computer equipment - 33% on cost 

## **Current assets** 

Stock consists of T-shirts and sweatshirts for sale to supporters.  It is valued at the lower of cost and net realisable value. Debtors are measured at their recoverable amounts and creditors at their settlement amounts when these can be measured or estimated reliably. 

## **Pension costs** 

BYMT operates a defined contribution workplace pension scheme. Contributions payable to the scheme are charged to the Statement of Financial Activities in the period to which they relate. 

## **Fund accounting** 

Unrestricted funds are those funds which can be used for any charitable purpose at the discretion of the Trustees. Restricted funds may only be used in accordance with the specific wishes of donors. 

Restricted funds can only be used for particular restricted purposes within the objects of the charity.  Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes. 

Further explanation of the nature and purpose of each fund is included in the notes to the financial statements. 

23 



## **BRITISH YOUTH MUSIC THEATRE** 

## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025 – CONTINUED** 

## **3. Income** 

|**Charitable activities**<br>Audition fees<br>Course fees<br>Other<br>**Total charitable activities**<br>**Grants and donations - Private Grants**<br>Individual<br>Corporate sponsorship<br>Trusts and foundations<br>**Grants and donations - Public Grants**<br>Arts Council England<br>**Total grants and donations**<br>**Charitable activities**<br>Audition fees<br>Course fees<br>Other<br>**Total charitable activities**<br>**Grants and donations - Private Grants**<br>Individual<br>Corporate sponsorship<br>Trusts and foundations<br>**Grants and donations - Public Grants**<br>Arts Council England<br>Southwark Council<br>**Total grants and donations**|**2025**<br>**2025**<br>**2025**<br>**Restricted**<br>**Total**<br>**Funds**<br>**Funds**<br>**£**<br>**£**<br>**£**<br>25,011<br>-<br>25,011<br>585,566<br>-<br>585,566<br>301,303<br>-<br>301,303<br>**911,880**<br>**-**<br>**911,880**<br>22,506<br>-<br>22,506<br>18,333<br>-<br>18,333<br>95,000<br>73,555<br>168,555<br>**135,839**<br>**73,555**<br>**209,394**<br>153,864<br>-<br>153,864<br>**153,864**<br>**-**<br>**153,864**<br>**289,703**<br>**73,555**<br>**363,258**<br>**1,201,583**<br>**73,555**<br>**1,275,138**<br>**2024**<br>**2024**<br>**2024**<br>**£**<br>**£**<br>**£**<br>**Restricted**<br>**Total**<br>**Funds**<br>**Funds**<br>24,252<br>-<br>24,252<br>674,225<br>-<br>674,225<br>377,570<br>-<br>377,570<br>**1,076,047**<br>**-**<br>**1,076,047**<br>21,823<br>-<br>21,823<br>30,000<br>-<br>30,000<br>85,000<br>102,700<br>187,700<br>**136,823**<br>**102,700**<br>**239,523**<br>153,926<br>-<br>153,926<br>7,000<br>-<br>7,000<br>**160,926**<br>**-**<br>**160,926**<br>**297,749**<br>**102,700**<br>**400,449**<br>**1,373,796**<br>**102,700**<br>**1,476,496**<br>**Unrestricted**<br>**Unrestricted**|
|---|---|



24 



## **BRITISH YOUTH MUSIC THEATRE** 

## **NOTES TO THE FINANICAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 - CONTINUED** 

|**4.**<br>**Charitable Activities (Restricted)**<br>Accomodation and meals<br>Bursary Awarded<br>**Charitable Activities (Unrestricted)**<br>Artists and pastoral care fees<br>Travel<br>Accommodation and meals<br>Venue hire<br>Production costs<br>Office rent and services<br>Insurance<br>Administration Staff Costs<br>Creative Staff Costs<br>Marketing Staff Costs<br>Marketing<br>Accountancy<br>External audit<br>Other administrative costs<br>~~**5**~~**.**<br>**Fundraising costs**<br>Fundraising<br>**6.**<br>**Operating surplus**<br>The operating surplus is stated after charging:<br>Depreciation<br>**7.**<br>**Staff Costs**<br>Wages and Salaries<br>Pension<br>Social Security Costs<br>Recruitment and Training||**2025**<br>**£**<br>**22,219**<br>**51,336**<br>**73,555**<br>**240,299**<br>**40,065**<br>**293,916**<br>**45,403**<br>**60,703**<br>**24,049**<br>**7,379**<br>**70,327**<br>**127,798**<br>**63,475**<br>**49,895**<br>**28,080**<br>**7,542**<br>**72,777**<br>**1,131,708**<br>**1,205,263**<br>**2025**<br>**£**<br>**44,270**<br>**2025**<br>**£**<br>**6,524**<br>**2025**<br>**£**<br>**274,024**<br>**6,404**<br>**23,594**<br>**1,848**<br>**305,870**|**2024**<br>**£**<br>**47,752**<br>**54,948**|
|---|---|---|---|
||||**102,700**<br>288,313<br>63,599<br>303,063<br>75,381<br>75,025<br>33,690<br>7,053<br>85,291<br>138,339<br>30,804<br>71,197<br>27,391<br>7,080<br>92,719|
||||1,298,945<br>1,401,645|
||||**2024**<br>**£**<br>45,951<br>**2024**<br>**£**<br>4,417|
||||**2024**<br>**£**<br>269,022<br>4,991<br>21,940<br>3,033|
||||298,986|



The average monthly number of employees during the period was as follows: Administration **8** One employee was paid more than £60,000 per annum during the period 

8 

25 



## **BRITISH YOUTH MUSIC THEATRE** 

## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025 – CONTINUED** 

BYMT operates a defined contribution workplace pension scheme through NEST, with contributions being made by both employer and employees at 3% (Employer), 5% (Employee) Pension costs charged represent contributions payable by BYMT to the scheme. Total pension costs in the current year amounted to £6,404 (2024: £4,991). 

## **8. Trustees’ remuneration** 

No trustees of the company received any remuneration during the period or the prior period. 

## **9. Taxation** 

No provision for corporation tax has been made as the charity is exempt from corporation tax on its income and gains to the extent these are applied to its charitable activities. The charity is exempt from VAT and eligible for Theatre Tax Relief. 

## **10. Tangible fixed assets** 

|**Cost**<br>**£**<br>**£**<br>At 1st January 2025<br>17,355<br>23,754<br>Additions<br>-<br>-<br>At 31st December 2025<br>17,355<br>23,754<br>**Depreciation**<br>At 1st January 2025<br>17,157<br>23,754<br>Charge for the period<br>198<br>-<br>At 31st December 2024<br>17,355<br>23,754<br>**Net Book Value**<br>At 31st December 2025<br>**-**<br>**-**<br>At 31st December 2024<br>**198**<br>**-**<br>**Musical**<br>**Instruments**<br>**Equipment &**<br>**Scenery**|**Computer**<br>**Equipment**<br>**Total**<br>**£**<br>**£**<br>14,665<br>55,774<br>16,500<br>16,500<br>31,165<br>72,274<br>11,639<br>52,550<br>6,326<br>6,524<br>17,965<br>59,074<br>**13,200**<br>**13,200**<br>**3,026**<br>**3,224**|
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## **11. Debtors** 

|Trade Debtors<br>Prepayments and accrued income<br>Other Debtors (Including Theatre Tax Relief)|**2025**<br>**2024**<br>**£**<br>**£**<br>**12,577**<br>5,736<br>**23,193**<br>10,718<br>**232,763**<br>254,268<br>**268,533**<br>270,722|
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26 



## **BRITISH YOUTH MUSIC THEATRE** 

## **NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 DECEMBER 2025 – CONTINUED** 

## **12. Creditors: amounts falling due within one year** 

|Trade creditors<br>Accruals and deferred income<br>PAYE and National Insurance<br>Other Creditors|**2025**<br>**2024**<br>**£**<br>£<br>**87,639**<br>62,423<br>**37,138**<br>99,532<br>**22,080**<br>7,213<br>**14,597**<br>15,590<br>**161,454**<br>184,758|
|---|---|



## **13. Creditors: amounts falling due after more than one year** 

|Loans<br>**14.**<br>**Funds**<br>Unrestricted Funds<br>Restricted Funds<br>Total|**2025**<br>**2024**<br>**£**<br>£<br>**30,000**<br>34,721<br>£<br>£<br>£<br>£<br>72,600<br>1,201,583<br>(1,175,978)<br>98,205<br>-<br>73,555<br>(73,555)<br>-<br>72,600<br>1,275,138<br>(1,249,533)<br>98,205<br>31.12.2025<br>Expenditure<br>01.01.2025<br>Income|
|---|---|



## **Restricted Funds – Project Funds** 

Core: Boris Karloff £2,000 

Productions: Austin & Hope £5,000; S2e £3,333 Noel Coward £5,000. 

Access to the Arts (a.k.a. Bursary Income - bursaries, supported places, DMT, auditions): D’Oyly Carte £6,000; Backstage Trust £50,000; Kingsmead College £2,222 

|**Productions**<br>**Access to the Arts**<br>**Core**<br>**Total**|**£**<br>**-**<br>**2025**|**Income**<br>**£**<br>13,333<br>58,222<br>2,000<br>**73,555**|**Expenditure**<br>**£**<br>**£**<br>13,333<br>**-**<br>58,222<br>**-**<br>2,000<br>**-**<br>**73,555**<br>**-**<br>**2025**|
|---|---|---|---|



27 



## **BRITISH YOUTH MUSIC THEATRE** 

## **NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 DECEMBER 2025 – CONTINUED** 

## **15. Analysis of net assets between funds** 

|Unrestricted Funds at 31 December 2024<br>Unrestricted Funds at 31 December 2025|£<br>£<br>£<br>£<br>3,223<br>288,856<br>(219,479)<br>72,600<br>13,200<br>276,459<br>(191,454)<br>98,205<br>assets<br>Total<br>Liabilities<br>Tangible<br>fixed<br>Current<br>assets|
|---|---|



## **16. Financial instruments** 

Financial instruments comprise the loan financing provided by Royce Bell to the company and the Government backed Bounce Back Loan from NatWest. 

The agreement for the repayment of the remaining £30,000 loan is subject to BYMT retaining a minimum of 3 months of its current reserve policy or sufficient funds to allow for earlier repayments. 

|Loan payable falling due within 1 year<br>Loan payable falling due in more than<br>1 year but less than 5 years|**2025**<br>2024<br>**£**<br>£<br>**4,166**<br>9,444<br>**30,000**<br>34,722<br>**34,166**<br>44,166|
|---|---|



## **17. Members** 

The Company is limited by guarantee under s62 Companies Act 2006 and therefore in the event of a winding up the members undertake to contribute such amounts as may be required, but not to exceed the sum of £1 in the case of any member, in accordance with Clause 7 of the Memorandum and Articles. 

28