Company registration number.. 05207175 Charity registration number.. 1108339 YORKSHIRE YOUNG MUSICIANS (A company limited by guarantee) Annual Report and Financial Statements for the Year Ended 31 August 2025
Yorkshlre Young Muslclans Contents (contlnued) Reference and Administrative Details 1 to2 Trustees, Report 3to8 Independent Examinerfs Report 9t010 Statement of Financial Activrties Balance Sheet 12to13 Notes to the Financial Statements 14to26
Yorkshire Young Musicians Refence and Admlnlstratlve Detalls Trustees J Dickinson P J Needham J Wilson P M Boughton P St. Hilaire J Sheriff H Croft D Allen Sonior Management I Leadership Team H Murray, Head of Yorkshire Young Musicians Charlty Registratlon Number 1108339 Company R•glstration Nurnber 05207175 The charity is incorporated in England and Wales. Page 1
Yorkshire Young Musicians Reference and Administrative Detsils (contlnued) Registered l)ffice Opera North Limited Howard Opera Centre 8 Harrison Street Leeds West Yorkshire LS16PA Fox Jennings Cullen Fox Jennings Cullen Tarn House 77 HKJh Street Yeadon Leeds LS19 7SP Fox Jennings Cullen Tarn House 77 High Street Yeadon Leeds LS19 7SP Wruleys Solicitors 19 Cookridge Street Leeds LS2 3AG Barclays Bank 69 Albion Street Leeds LS15AA Independent Examiner Accountants Solicitors: Bankers Page 2
Yorkshire Young Musicians Trustees. Report The trustees, who are directors for the purposes of company law, present the annual report together with the financial statements of the charitable company for the year ended 31 August 2025. Objectives and activities Objects and aims The objects of Yorkshire Young Musicians (YYM.) are to advance the education of musically talented children and young people and to afford access to music education to young people in particular by the provision of a music school and centre of excellence in music education and performance. Public b•neflt The charity provides a music school and centre of excellence in music education and performance, in order to advance the education of musically talented children and young people, and to afford access to music education to young people. The trustees confirm that they have complied with the requirements of section 17 of the Charities Act 2011 to have due regard to the public benefit guidance published by the Charity Commission for England and Wales. Flnanclal r•vlew Policy on reserves The Directors and Trustees endeavour to maintain a minimum level of free reserves adequate to provide sufficient funding to cover their expectations of YYM'S operating expenditure after taking account of its future known and anticipated income, in particular to ensure reserves are sufficient to covef the immediate expenditure required to meet the specific risks facing the or9anisation (see below>. Plans for future periods Alms and key objectives ft)r future periods The aims for future periods are.. continuing to develop the YYM curriculum to ensure it meets the varied needs. interests and aspirations of all students- developing closer collaboration with our partners including music hubs in The Yorkshire and Humber region, incorporating an outreach programme- and ensurin9 that the current funding from the Department for Education, Music and Dance Scheme is secured beyond the Current agreement. Page 3
Yorkshire Young Musicians Trustees. Report (continued) Structure. governance and management Nature of govemlng document YYM was established as a company limited by guarantee on 16 August 2004 and was registered as a charity on 1 March 2005. The company was established under a Memorandum of Association which established the object and powers of the charitable company and is governed under its Articles of Association. Under those Articles, the trustees are elected at the AGM. The Founder trustees were: Music Mark (formedy"Federation of Musi¢ Senrfices, Yorkshire & Humber Region.) Leeds Consenlatoire (formerly 'Leeds College of Music") Opera North Recrultment and appolntment of trustees The Trustees when complete consist of at least three and not more than 10 individuals, all of whom must be members. The Board of Trustees shall consist of the following.- • no more than two authorised representatives of Opera North no more than authorised representatives of Leeds Conservatoire no more than fvio authorised representatives of Music Mark (the above three comprising the "Founder Trustees") no more than four persons appointed (and removed) by the Founder trustees {"Appointed Trustees") The subscribers to the Memorandum are the first Trustees (and the first Founder Trustees). Every Trustee after appointment or reappointment must sign a declaration of willingness to act as a charity trustee of the Charity before he or she may vote at any meeting of the Trustees. An Appointed Trustee's term of off shall be set by the founder Trustees, and the maximum term of office for any Trustee without a one year break is nine years. The Trustees may at any time c¢)ryOPt any individual who is qualified to be appointed as a Truslee, to fill a vacancy in the Trustees. number. Such 'Co-opted Trustee" holds office only until such vacancy is filled by a Founder Trustee or Appointed Trustee as the case may be. Page 4
Yorkshire Young Musiclans Trustees. Report (continued) Major rlsks and management of those risks Reserves The Trustees have undertaken a risk management revbew and consider that the current reserves of YYM provide an appropriate cushion against adverse outcomes. The key risks identified along with key mitigation measures (other than the holding of appropriate resenles) are set out below. Reliance on govemment income The organisation is highly dependent upon Music and Dance Scheme grants for its successful operation. Other income Streams are being developed, such as increasing the number of fee paying students. In addilion, the Head is in regular contact with the Department for Education to ensure long term availability of grant funding is understood. Student numbers The number of students is rnaintained at an appropriate level through an active programme of student auditions, re-auditions and marketing of the organisation's activities. Key person nsk and succ8ssion The Head holds a key position in terms of the operation of the organisation as well as overseeing the Musi1 education of the students over the long term. Management infomyation The Trustees ensure there is appropriate management information to make decisions relating to the operation of the organisation through: 1. Monitoring and reporting on student attendance, 2. Central moniloring of the recruitment process. 3. Review of regular finance information provided by the Leeds Conservatoire finance team. Safeguarding Yorkshire Young Musicians is committed to the protection and safeguarding of children and young people, and believes the responsibility held in this regard, to promote their interests and well-being, to be of paramount concern. The Board of Trustees of YYM acknowledges its responsibilities for the safeguarding and protection of children and young people under its care, and will monitor and evaluate the policies and procedures on an annual basis in line with current government advice and legislation. Page 5
Yorkshire Young Musicians Trustees. Report (continued) Student satisfaction and success Students (and their parents where appropriate) are invited to feed back on their experience of YYM. The low number of students dropping out of tuition mid-year and the number who progress to higher education (in particular to study music at conservatoire level or music related degrees) is a testament to the success of the Head. teachers and other staff. Space management Currently both centres provKle sufficient space for the successful operation of the Sunday morning centres. The Head provides regular operational updates to the Trustees so that any issues can be highlighted and addressed. Stakeholdermanagement There is a good working relationship belween the founding organisations. There are Trustee representatives fom each organisation as well as independent Trustees. This structure ensures that any issues or conflicts can be dealt with satisfactorily. Page 6
Yorkshlre Young Muslclans Trustees. Report Icontlnued) Statement of trustees. responslbllltles The trustees {who are also the directors of Yorkshire Young Musicians for the purposes of company law) are responsible for preparing the trustees. report and the financial ststements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including FRS 102 "The Financial Reporting Stsndard applicable in the UK and Republic of Ireland" The report and accounts have been prepared in accordance with the provisions in the Companies Act 2006 relaling to small companies. Company law requires the trustees to prepare financial statements for each financial year. Under company law the trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including its income and expenditure. of the charitable company for that period. In preparing these financial statements. the trustees are required to- select suitable accounting policies and apply them consistently., observe the methods and principles in the Charities SORP- make judgements and estimates that are reasonable and prudent.. state whether applicable accounting standards, comprising FRS 102 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 charitable company will continue in business. The tTUStees are responsible for keeping proper accounting records that can disclose with reasonable ac¢ura¢y 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. The trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company's website. Legislation governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions. Small companies provision statement This report has been prepared in accordance with the small companies regime under the Companies Act 2006. Page 7
Yorkshire Young Musicians Trustees, Report (continued) The annual report was approved by the trustees of the charty on 2L signed on its behalf by: J Wilson Trustee Page 8
Yorkshire Young Musicians Independent Examinerfs Report to the trustees of Yorkshire Young Musiclans ('the compan I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 August 2025. Responsibilities and basis of report As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act,). Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried oul under section 145 of the Charities Act 2011 ('the 2011 Act.). In carrying out my examination I have followed the Directions given by the Charty Commission under section 145(5)(b) of the 2011 Act. Independent examiner's ststement Since the Company's gross income exceeded £250,000 your examiner must be member of a body listed in section 145 of the 2011 Act. l confirm that l am qualified to undertake the examination because l am a member of ICAEW, which is one of the listed bodies. I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe.. 1. accounting records were not kept in respect of Yorkshire Young Musicians as required by section 386 of the 2006 Act- or 2. the accounts do not accord with those records,. or 3. the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a 'true and fair view, which is not a matter Considered as part of an independent examination; or 4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities lapplicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)]. I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be rea¢hed. Page 9
Yorkshire Young Muslcians Independent Examinefs Report to the trustees of Yorkshire Young Musician8 {'the Company.) (continued) A D Ormondro Fox Jennings Cullen Tarn House 77 High Street Yeadon Leeds LS19 7SP Date..2..7.. Page 10
Yorkshiro Young Muslclans Statsment of Financial Activities for the Year Ended 31 August 2025 (Includlng Income and Expenditure Account and Statement of Total Recognised Gains and Losses) Total funds Totsl funds (all unrestricted) unrestricted) 2025 2024 Nots Income and Endowments from: Donations and legacies Charitable activities Investment income Other income 281,708 69,097 9.201 3.185 273,169 63,670 9,250 3,011 Total income 363.191 349,100 Expenditure on: Charitable activities Other expenditure Total expenditure Nel incomel{expenditure) Net movement in funds (350,759) 3,111 (347,757) 4,565 353,870 352,322 3.222 9,321 (3,222) Reconciliatlon of funds Total funds brought forward Total funds carried forward 254,537 263,858 257,759 20 254,537 All of the charivs activities derive from continuing operations during the above two periods. The funds breakdown for 2024 is shown in note 20. The notes on pages 14 to 26 fomi an integral part of these financial statements. Page11
Yorkshire Young Muslclans (Registration number: 05207175) Balance Sheet as at 31 August 2025 2025 2024 Note Current assets Debtors Investments Cash at bank and in hand 15 16 17 19,273 220,000 151,702 16,391 220.000 26,447 262,838 390,975 Crodltors: Amounts falllng due wlthln one year 18 Net assets 127,117 8,301 263,858 254,537 Funds of the charity: Unrestrlcted Income funds Unrestricted funds 263,858 254,537 Total fund8 20 263,858 254,537 For the financial year ending 31 August 2025 the charity was entilled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. Directors, responsibilities.. The members have not required the charity to obtain an audit of its accounts for the year in question in accordance with section 476.. and The directors acknowledge their sponSibl11t1es for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. These financial statements have been ppad in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006. The notes on pages 14 to 26 fom an integral part of these financial statements. Page 12
Yorkshire Young Muslcians (Registration number: 05207175 Balance Sheet as at 31 August 2025 (continued) The financial statements on pages 11 to 26 were approved by the twstees, and authorised for issue on 21th 2£). and sned on their behalf by.. J Wilson Trustee The notes on pages 14 to 26 form an integral part of these financial statements. Page 13
Yorkshire Young Musicians Notes to the Financial Statements for the Year Ended 31 August 2025 Charity status The charity is limited by guarantee, incotporated in England and Wates, and consequently does not have share capital. Each of the trustees is liable to contribute an amount not exceeding £Nil towards the assets of the charity in the event of liquidation. The address of its registered off8 is: Opera North Limited Howard Opera Centre 8 Harrison Street Leeds West Yorkshire LS16PA Authorised for issue date Z2 201 Accountlng pollcles Summary of 8lgnlflcant accountlng policle8 and key accounting estlmates The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated. Statement of compllance 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)) (issued in October 2019) (Charities SORP (FRS 1021). the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companses Act 2006. Basis of preparation Yorkshire Young Musicians meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy notes. Page 14
Yorkshire Young Musicians Notes to the Flnancial Statements for the Year Ended 31 August 2025 (continued) Accounting policies (continued) Going concern The trustees consider that there are no material uncertainties about the charitys ability to continue as a going concern nor any significant areas that affect the carrying value of assets held by the charity. Exemptlon from preparing a cash flow statement The charity Opted to early adopt Bulletin 1 published on 2 February 2016 and have therefore not included a cash flow statement in these financial statements. Income and endowments All income is recognised once the charity has entitlement to the income, it is probable thal the income will be received and the amount of the income receivable Can be measured reliably. Grants receivable Grants are re¢ognised when the charity has an entitlement to the funds and any conditions linked to the grants have been met. Where performance conditions are attached to the granl and are yet to be met, the income is recognised as a liability and included on the balance sheet as deferred income to be released. Investment Income Dividends are recognised once the dNidend has been declared and notification has been received of the dividend due. Expendlture All expenditure is recognised once the is a legal or constructive obligation to that expenditure, it is probable settlement is required and the amount can be measured reliably. All costs are allocated to the applicable expenditure heading that aggregate similar costs to that category. Where costs cannot be directly attributed to particular headings they have been allocated on a basis consistent with the use of resources, with central staff costs allocated on the basis of time spent. and depreciation charges allocated on the portion of the asset's use. Other support costs are allocated based on the spread of staff costs. Page 15
Yorkshire Young Musicians Notes to the Financial Statements for the Year Ended 31 August 2025 (continued) Accounting policies (continued) Charitable activities Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them. Grant provlslons Provisions for grants are made when the intention to make a grant has been communicated to the recipient but there is uncertainty about either the timing of the grant or the amount of grant payable. Support costs Support costs include central functions and have been allocated to activity cost categories on a basis consistent with the use of resources, for example, allocating propety costs by floor areas, or per capita, staff costs by the time spent and other costs by their usage. Governance costs These include the costs attributable to the charity's compliance with constitutional and statutory requirements, including audit, strategic management and trustees meetings and reimbursed expenses. Government grants Government grants are recognised based on the accrual model and are measured at the fair value of the asset received or receivable. Grants are Classified as relating either to revenue or to assets. Grants relating to revenue are re¢ognised in income over the period in which the related costs are recognised. Grants relating to assets are recognised over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income. Taxation The charity is considered to pass the tests set out in Paragraph 1 Schedule 8 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. A¢¢ordingly, the charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992. to the extent that such income or gains are applied exclusively to charitable purposes. Page 16
Yorkshire Young Musiclans Notes to the Financial Statements for the Year Ended 31 August 2025 (continued) Accounting policies (contlnued) Current asset Investments Current asset investments are included at the lower of cost and net realisable value I market value. Trade debtors Trade debtors are amounts due from customers for services performed in the ordinary course of business. Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method. less provision for impairment. A provision for the impainnent of trade debtors is established when there is objective evidence that the charity will not be able to collect all amounts due according to the original terms of the receivables. Cash and cash equlvalents Cash and cash equivalents comprise cash on hand and call deposits, and other short-temi highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value. Fund structure Unrestricted income funds are general funds that are available for use at the trustees discretion in furtherance af the objectives of the charty. Penslons and other post retlrement obligations The company's employees belong to the Teachets. Pension Scheme ("TPS") for academic and related slaff. This is an independently administered defined-benefit scheme. Under the definitions set out in Financial Reporting Standard ("FRS') 102 (28), the TPS is a multi*mployer pension scheme. The company is unable to identify its share of the underlyin9 assets and liabilities of the scheme. Accordingly, the company has taken advantsge of the exemption in FRS 102 and has a¢Unted for the scheme as if it were a defined contribution scheme. Page 17
Yorkshlre Young Muslclans Notes to the Flnanclal Statements for the Year Ended 31 August 2025 (continued) Accounting policies (continued) Flnanclal Instruments Classificatlon The Charity has elected to apply the provisions of Section 11 'Basic Financial Instruments, and Section 12 '0ther Financial Instwments Issues. of FRS 102 to all of ils financial instruments. Financial instruments are recognised in the Charity's Balance Sheet when the Charity becomes party to the contractual provisions of the instrument. Financial assets and liabilities are offset. with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneousty. Recognition and measurement Basic financial assels, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interesl method unless the arrangement constitutes a financing transaction, where the transaction is measured al the present value of the future receipts discounted at a market rate of interest. Financial assets dassified as receivable within one year are not amortised. Basic financial liabiltties, including ¢d[tOrS and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Financial liabilits'es classified as payable within one year are not amortised. Trade creditors are obligations to pay for goods or seprfices that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, Ihey are presented as non-current liabiltties. Trade creditors are recognised initially at transaction price and subsequently measured at amortised Cost using the effective interest method. Financial liabilities are derecognised only when the obligation specIfd in the contract is discharged, Cancelled or expires. Page 18
Yorkshlre Young Musicians Notes to the Financial Statements for the Year Ended 31 August 2025 (contlnued) Income from donations and legacies Unrestricted funds General Total 2025 Totsl 2024 Donations and legacies: Donations from companies, trusts and similar proceeds Donations from charities Grants, including capital grants.. Government grants 4.010 38 4,010 38 277,660 281.708 277,660 281.708 273,169 273,169 Income from charitabl• actlvltles Unrestrlcted funds General Total 2025 Total 2024 Provision of music education 69,097 69,097 63,670 Investment Income Unrestricted funds General Totsl 2025 Total 2024 Interest receivable and similar income: Interest receivable on bank deposits 9,201 9,201 9,250 Page 19
Yorkshire Young Muslcians Notes to the Flnancial Ststements for the Year Ended 31 August 2025 (continued) Other income Unrestricted funds General Total 2025 Total 2024 Fees for examinations and performances 3.185 3,185 3,011 Expendlture on charltable actlvltles Unrestricted funds General Total 2025 Total 2024 Note Grant funding of activities Staff costs Allocated support costs Govemance costs 1,520 275,854 44,799 28.586 350.759 1,520 275.854 44.799 28.586 350.759 383 273,320 49.374 24,680 347,757 8 Other expenditure Unrestricted funds General Totsl 2025 Total 2024 Note Examination and assessment fees 3.111 3.111 3,111 3.111 4,565 4,565 Page 20
Yorkshlre Young Musicians Notes to the Financlal Statements for the Year Ended 31 August 2026 (continued) 9 Analysis of governance and support costs Charitsble activities expenditure Unrestricted funds Genefal Total Total Basls of allocation 1000/0 1000 2025 2024 Teaching space hire Light, heat and power 44,799 44,799 45,279 4,095 49,374 44,799 44,799 Govemance costs Unrostrlctsd funds General Totsl 2025 Total 2024 Independent examiner fees Examination of the financial statements Other fees paid to examiners Allocated support costs 2,442 2,746 23,398 2,442 2,746 23,398 28,586 2,328 2,701 19,651 24,680 28,586 Page 21
Yorkshire Young Musicians Notes to the Flnancial Statements for the Year Ended 31 August 2025 Icontinued 10 Grant-rnaking Analysis of grants Grants to Individuals 2025 2024 Analysls Teaching equipment and materials Student assistance Student enrichment 531 435 554 348 35 1,520 383 The support Costs associated with grant-making are £Nil (31 August 2024- £Nil). 11 Trustees remuneratlon and expenses No trustees. nor any persons Connected with them, have received any remuneration from the charity during the year. No trustees have received any reimbursed expenses or any other benefits from the charity during the year. 12 Staff costs The aggregate payroll costs were as follows: 2025 2024 Staff costs durlng the year were: Wages and salaries Social security costs Pension costs Other staff costs 210.415 10,547 12,435 42,457 275.854 215,842 7,321 12,071 38,086 273,320 Page 22
Yorkshire Young Musicians Notes to the Financial Statements for the Year Ended 31 August 2025 (continued) 12 Staff costs Icontlnued) The monthly average number of persons {including senior management I leadership team) employed by the charity during the year expressed as full time equivalents was as follows.. 2025 2024 No Tuition Administration 26 29 28 31 28 (2024 - 31) of the above employees participated in the Defined Contribution Pension Schemes. The average number of employees as required for disclosure under Companies Act 2006 was 28 (2024- 31). No employee received emoluments of more than £60.000 during the year. 13 Indep•ndent examlnevs remuneratlon 2025 2024 Examination of the financial statements 2,442 2,328 Other fees to examiners Examination-related assurance services All other seniices 498 2.248 2,746 474 2,227 2,701 14 Taxation The charty is a registered charity and is therefore exempt from taxation. Page 23
Yorkshire Young Musicians Notes to the Financial Statements for the Year Ended 31 August 2025 (continued) 15 Debtors 2025 2024 Trade debtors Prepayments 14,848 4,425 19,273 12,449 3,942 16,391 16 Current asset investments 2025 2024 Cash investments 220,000 220,000 17 Cash and cash equlvalents 2025 2024 Cash on hand Cash at bank 56 151,646 151,702 56 26,391 26,447 18 Credltors: amounts falling due wlthin one year 2025 2024 Trade creditors Other creditors Accruals 24,099 92 102,926 127.117 2,949 5,352 8,301 Page 24
Yorkshlre Young Musicians Notes to the Financial Statements for the Year Ended 31 August 2025 (continued) 19 Pension and other schemes Yorkshire Young Musicians participates in two formal pension schemes, being the Teachers, Pensions Scheme. and a Workpla pension scheme operated by "The People's Pension.. The scheme operated by The People's Pension is clearly a defined contribution scheme and. as such, no actuarial or funding pension liabilities arise from its implementation. Contributions unpaid at the year end are included within creditors. The Teachers, Pension Scheme is a statutory, unfunded. defined benefit occupational scheme that is a muttiryemployer plan. Contributions on a 'pay as you go- basis are credited to the exchequer under arrangements governed by the Superannuation Act 1972. The govemment carries out periodic actuarial valuations on a notional set of investments. However. the arrangements for the Teachers, Pension Scheme mean that the liabilities for employee benefits cannot be identified specifically to the charity- The pension costs are therefore accounted for as if the scheme were a defined contribution scheme under FRS102. The pension cost charge for the year represents contributions payable by the charity to the two schemes and amounted to £12,435 {2024 - £12.071). Contributions totalling £92 (2024 - £927) were payable to the schemes at the end of the year and are included in creditors. 20 Funds Balance at Balance at 31 August 2025 September 2024 Incomlng Resources resources oxp8ndod Unrestricted funds General 254,537 363.191 353,870 263,858 Page 25
Yorkshire Young Musicians Notes to the Flnancial Statements for the Year Ended 31 August 2025 (continued) 20 Funds (continued) Balance at Balance at 31 August 2024 September 2023 Incomlng Resources resources expended Unrestricted funds General 257.759 349.100 352,322 254,537 21 Related party transactlons During the year the charity made the following related party transactions: Leeds Conservatolre (A company with whom Yorkshire Young Musicians has a directorltrustee in common, and out of whose property the charitable company operates) During the year the organisation rented Spa from Leeds Conservatoire for the sum of £40,000 (2024: £40,000). At the balance sheet date the amount due to Leeds Conservatoire was £13,333 (2024 - £Nil). Hull Muslc Servlce (Hull Music Service and Yorkshire Young Musicians are both members of Music Mark, and tsvo of the company's trustees are also members of Music Mark) During the year the organisation rented space at The Albemarle Music Centre from Hull Music Senrfice for the sum of £4,800 {2024.' £5.280). At the balance sheet date the amount due to Hull Music Service was £3,200 {2024- £Nil}. Page 26