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2023-03-31-accounts

CREATIVE YOUTH

(A company limited by guarantee)

REPORT AND FINANCIAL STATEMENTS

18 MONTHS ENDED 31 MARCH 2023

Charity Number 1132314 Company Number 06848384

CREATIVE YOUTH

INDEX Page 1 Company Information Pages 2 - 11 Report of the Trustees Page 12 Independent Examiner’s Report to the Trustees Page 13 Statement of Financial Activities Page 14 Balance Sheet Pages 15 - 23 Notes to the Financial Statements

CREATIVE YOUTH

COMPANY INFORMATION

PRESIDENT HRH Prince Edward Duke of Edinburgh KG GCVO ADC

PATRONS Tom Chambers Matt Lucas Madeleine Worrall Chike Okonkwo Sheridan Smith Angelica Bell Michael Underwood Tom Holland Wayne Eagling

DIRECTORS/TRUSTEES R Hutchinson (Chairman) B Alderton A Hutchinson J James Taylor A Stevenson P Mayhew-Smith R O’Dowd M Bryher J Piper M M Hanson-Akins E Kendall - Resigned: 22 November 2021 G Miles A Prashar - Resigned: 6 September 2023 M Cadie Hunte

SECRETARY C Bloxham

INDEPENDENT EXAMINER J Alderton FCCA FCMI BANKERS HSBC Bank Plc, Kingston upon Thames Metro Bank, Kingston upon Thames

REGISTERED OFFICE Suite 9, Millennium House, 21 Eden Street, Kingston upon Thames, KT1 1BL.

COMPANY NUMBER 06848384 CHARITY NUMBER 1132314

1

CREATIVE YOUTH

TRUSTEES’ ANNUAL REPORT FOR THE 18 MONTH PERIOD ENDED 31 MARCH 2023

The trustees, who are also directors of the charity for the purposes of the Companies Act, submit their report and the financial statements for the period ended 31 March 2023.

Legal and administrative information set out on page 1 forms part of this report. The financial statements comply with current statutory requirements, the Statement of Recommended Practice – Accounting and Reporting by Charities (SORP) and with FRS 102, the Financial Reporting Standard applicable in the UK and Republic of Ireland.

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document

Creative Youth is a company limited by guarantee governed by its Memorandum and Articles of Association dated 16 March 2009, as amended on 8 October 2009. It is registered as a charity with the Charity Commission and from now on the company will be referred to as a charity. Anyone over the age of 18 can become a member trustee of the charity and there are currently 12 members (2021: 14), each of whom guarantee £1 in the event of the charity winding up.

Appointment of trustees

Trustees are appointed by the Board in general meeting. Each trustee so appointed shall retire with effect from the conclusion of the next AGM after their first appointment but shall be eligible for reelection at that AGM. One third of the Board, excluding appointments in the period, retires by rotation at the AGM and each trustee may offer themselves for re-election.

Trustees’ induction and training

New trustees are provided with the Charity Commission booklet about their legal obligations under charity law and a copy of the Constitution. They are given a copy of the strategic plan which is supported by the relevant current financial forecast and management accounts.

Organisation

The trustees meet to manage the affairs of the charity and oversee its administration. Organisation of the festival and most administration is delegated to the chief executive officer, the festival director and the finance manager. The Finance Committee, appointed by the Board of Trustees, monitors the affairs of the charity between full trustee meetings.

Related parties

The charity has close relationships with the Royal Borough of Kingston upon Thames, Kingston University, Kingston College, Rose Theatre and Kingston First.

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CREATIVE YOUTH

TRUSTEES’ ANNUAL REPORT FOR THE 18 MONTH PERIOD ENDED 31 MARCH 2023 (continued)

OBJECTIVES AND ACTIVITIES

The objectives of the charity are:-

The trustees confirm that they have referred to the Charity Commission’s guidance on public benefit when reviewing the charity’s aims and objectives and in planning future activities.

The principal activity of the charity during the period was that of running year-round projects culminating in the provision of an annual festival for charitable purposes.

The activities undertaken to achieve the charity’s objectives include:-

Mission

Creative Youth creates futures through the arts.

We enable all young people aged 5-26 years to realise their potential through creativity.

We are a dynamic, locally embedded organisation, working nationally and internationally, which believes every young person has a right to access the arts and be creative and should be encouraged to take initiative, risk and push boundaries in a safe and inclusive environment. We also believe that the provision of a positive, welcoming and fun creative environment with peer learning/support and experience, is key to young people’s continued participation in the arts throughout their lives.

Creative Youth is young people led. A Young Creatives panel of 14 directly inputs into our strategic plans and project delivery. The panellists have a two-year appointment.

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CREATIVE YOUTH

TRUSTEES’ ANNUAL REPORT FOR THE PERIOD ENDED 31 MARCH 2023 (continued)

OBJECTIVES AND ACTIVITIES (continued)

Mission (continued)

One strong focus is to create opportunities for young people who are from backgrounds the least engaged with or who have least access to culture. To this end we aim to keep activities for this group at a minimal cost so that financial barriers are removed.

Collaborative partnership is at the core of Creative Youth’s work, and one of the main ways of successfully delivering our mission is through establishing meaningful and productive relationships with a wide range of partners.

We:-

ACHIEVEMENTS AND PERFORMANCE

During the period, Creative Youth took the decision to revise its year-end accounting date to the end of March to fall in line with the government tax year and many key funders. This report, therefore, is for the extended 18-month period.

Significant development and progress has taken place during this time including:-

4

CREATIVE YOUTH

TRUSTEES’ ANNUAL REPORT FOR THE PERIOD ENDED 31 MARCH 2023 (continued)

ACHIEVEMENTS AND PERFORMANCE (continued)

FUSE International festival July 2022

The renaming of International Youth Arts Festival (IYAF) to FUSE International was stimulated by discussions with our Young Creatives panel and then followed by wider input from festival participants, audience members, staff, our Board, and extended networks. The message was that young people – particularly those in the 18-26 age bracket – did not like the word ‘youth’ in the title of the festival. They no longer connected to it and they certainly did not feel excited by it. Reviewing IYAF’s success over its first decade, and in positioning the festival for the next 10 years, the artistic leadership cited the participants and audiences in higher education and their emerging professional years as the main target for developing the festival in future. The name IYAF appeared as a hurdle to exactly the demographic we were aiming to focus on, and over a period of extensive consultation and debate FUSE International, with its contemporary feel, was born.

The rebrand launch took place in Autumn 2021 with, therefore, a greater appeal to 18-26 year olds and an increased focus on the fringe programme.

The 2022 festival must still be seen in the context of the Covid-19 pandemic. There were no restrictions in summer, but the application deadline date coincided with the Omicron variant. This still resulted in international travel uncertainty, reduced numbers of independent companies creating new work and a lack of confidence across the sector. By July 2022 the Covid-19 impact was still affecting staffing structures, work experience and audience numbers, and resulted in some lastminute cancellations by companies. In view of the Covid-19 years, a decision was made to give nearly all applicants the possibility to perform after these difficult years. This limited performances to one show per company to allow for enough space.

The Rose Theatre - this main theatre is a most valued space and elevates the festival. To reach target capacity can be a challenge with many shows but over recent years we have established a number of successful formats and built up relationships with certain companies which can bring in larger numbers such as Dance Showcase, National Youth Music Theatre (NYMT) and Pauline Quirke Academy (PQA). In the case of NYMT and PQA this can be from a considerable distance and fulfils our important aim to be a festival of national significance (PQA travelled from Devon). The Dance Showcase comprised many dance schools who were delighted to showcase the work of their students in such a professional and prestigious venue. An attempt to mirror the format of the Dance Showcase with other art forms proved to be more challenging this year. Our programme also included a Choirfest which showcased different choirs (local and streamed international choirs) and a Battle of the Bands with local performers. In contrast to the dance families, the choir and band participants struggled with our ticket price at the Rose. We responded by making participant offers which improved numbers for Battle of the Bands. For Choirfest however we had expected that the choirs would naturally bring family and friends as audiences, but this was not the case.

Our curated show this year was former Creative Talent Programme (CTP) artist, Tankus the Henge. This brought a great atmosphere to the Rose which particularly suits live music performance.

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CREATIVE YOUTH

TRUSTEES’ ANNUAL REPORT FOR THE PERIOD ENDED 31 MARCH 2023 (continued)

ACHIEVEMENTS AND PERFORMANCE (continued)

FUSE International festival July 2022 (continued)

FUSE International’s highlight this year, TULU by Circus Abyssinia, brought the spirit of the festival we aim for. It is international, diverse, contemporary, appeals to a wide age range and was of an excellent standard. Our President HRH Prince Edward The Duke of Edinburgh attended a Gala performance of this show to a packed house.

Our schools’ matinee was also a festival highlight and St John’s C of E Primary School brought the whole school to a performance. For future years we will continue to develop our relationships with schools and reach out to them at the start of each academic year to encourage them to book performances much earlier.

The Festival Fringe Programme followed our ambition to grow the semi-professional/ emerging artist programme of the festival and so we increased our targeting to this group during the application process. Considering Autumn 2021 was still in the midst of the Covid-19 pandemic and there was great uncertainty, we were very pleased with the high number and high quality of applications. The programme was bold and varied and contained many shows of a mixed genre and experimental nature (scripted/ improvised/ physical/ musical) and upheld a fringe spirit in the content.

Music at FUSE International continued to be a highlight. One of our panel of Young Creatives, Willow Pitt, programmed the music and was mentored by former Young Creative/CTP artist Boudicca Pepper. The quality of the music performers this year was exceptionally high. There was an increased number of acoustic performers and the vocal talent was particularly good. The musicians came from a wide area and many were from outside London. The music programme included indoor and outdoor venues and, with our ambition to extend the festival into the late-night scene, we collaborated with an increased number of local music venues: Fighting Cocks, The Lamb, Woody’s. The Seven Saxons barge, which we used for a second year, proved to continue to be an excellent additional outdoor music venue. With generous support from Kingston First, the music stage at the Market Square was again welcomed by the town. This year the programme was primarily acoustic, bringing a wide range of international music talent to the town centre. We also included a number of family performances by popular local artist and storyteller, Storystorks, for very young audiences. Being able to bring the centre of town to life through a live stage is vital to the festival experience and allows us to launch the festival to the local community.

New festival developments included building on the success of previous digital work. We also pursued an ambitious new development through the creation of a Virtual Reality (VR) world to host festival content. We were thrilled to work with the talented team at Bright Immersive, an Augmented Reality [AR] and VR design consultancy, to digitally reimagine three spaces from around Kingston. Bright Immersive created 3D virtual exhibition spaces, including a bespoke gallery, theatre and a Metaverse-inspired representation of Kingston’s town centre, complete with replicas of local landmarks and medieval structures as part of the collaboration. The space remained live throughout the year and has provided a long-term platform where we can continue to share and develop digital work.

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CREATIVE YOUTH

TRUSTEES’ ANNUAL REPORT FOR THE PERIOD ENDED 31 MARCH 2023 (continued)

ACHIEVEMENTS AND PERFORMANCE (continued)

FUSE International festival July 2022 (continued)

We also put considerable focus on delivering an outreach programme. With support from Kingston Council and Arts Council England, we were able to launch a successful outreach tour at Canbury Gardens, Fishponds Park, Cambridge Road Estates, Hook Centre and Jubilee Square. FUSE International’s programme forms part of Creative Youth’s wider objectives to reach new young people and audiences in disadvantaged areas. With generous support from Kingston Council’s Arts and Culture team and Arts Council England (Creative Youth Connects programme), The Wagon of Dreams by Jellyfish Theatre was interactive and immersive with an environmental theme aimed at an under 10 age group. The show was offered for free twice in each area over the course of the week. We were delighted that audience numbers surpassed all expectations. The most well attended show was in New Malden and volunteers lost count at 100 children and 80 adults. Creative workshops were also programmed alongside each of the shows.

Key 2022 festival statistics:-

In 2022, we continued to engage a professional press consultant, Elin Morgan, which saw our press/media coverage increase including articles in a range of media such as Voice Mag and Theatre Weekly. The ongoing coverage of our work is documented in a Press Coverage Book.

Skills Development Programme

Whilst all of Creative Youth’s programmes contribute to developing young people’s skills, knowledge and experience, we also offer a significant number of work experience, apprenticeship, internship and volunteering opportunities each year. These are in the areas of marketing, design, event and project management, customer services, technical and production work. We do this in close collaboration with Kingston College, Kingston University, local schools and other educational bodies, along with international partners in exchange programmes. Each young person receives an experience that is tailored to their individual needs and the focus is on building confidence, selfesteem, working with a team, learning, sharing and networking with peers. We are keen to ensure Creative Youth has a positive and long-lasting impact on a young person’s life, including their working life as they are about to enter the workforce.

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CREATIVE YOUTH

TRUSTEES’ ANNUAL REPORT FOR THE PERIOD ENDED 31 MARCH 2023 (continued)

ACHIEVEMENTS AND PERFORMANCE (continued)

Skills Development Programme (continued)

During 2022 FUSE International festival we managed:-

FUSEBOX (FB)

The charity received grant funding during the period in order to refurbish premises underneath the John Lewis store. The charity managed these substantial refurbishment works during the period. On completion of the works the charity was granted a lease. In January 2023, Creative Youth was finally handed the keys to its new creative space FUSEBOX by the Royal Borough of Kingston. A 6-month pilot phase began which included testing the space with activity, ongoing marketing and engagement, completion of some internal works (sprinklers etc), the establishment of a bar, staff recruitment, marketing and fundraising. In February 2023, Creative Sparks was the first Creative Youth produced programme to take place in FB. It was made possible thanks to our Creative Talent Programme. The outside public regeneration works were still taking place during this period which limited audience capacity due to safety & fire regulations. The reactions to the space have been very positive by participants and audiences alike. FUSEBOX is quite simply a game changer for Creative Youth ensuring we can offer young creatives a dynamic, flexible and inspiring place. A home for them to develop their ideas, projects and partnerships. Even the pilot programme has shown that great things will emerge from this space.

Creative Talent Programme (CTP)

Creative Youth’s CTP was established to respond to a growing need from emerging and early career artists to develop their artistic skills alongside their business and strategic awareness and to equip them for the ever-changing arts sector.

Tanvi Ranjan, a local textile-based artist, was selected as our CTP supported artist in 2022 and was provided with a year of support including professional development training and inclusion of her work in the festival and in FUSEBOX.

Creative Sparks was a performance opportunity in FB, generously supported by Arts Council England, for young emerging artists between the ages of 16-25 to showcase a 20-minute body of work from a variety of different art forms and genres, such as music, spoken word and drama. The four nights in February were programmed based on the genre of performances, for example a poetry night, drama night, music night whereas the final two in March were a mixture of music and poetry, offering the audience the opportunity to see a variety of artists rather than just one.

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CREATIVE YOUTH

TRUSTEES’ ANNUAL REPORT FOR THE PERIOD ENDED 31 MARCH 2023 (continued)

ACHIEVEMENTS AND PERFORMANCE (continued)

Creative Talent Programme (CTP) (continued)

Additionally, we had the opportunity to partner with The Record Shop to host a music takeover night, which helped us to engage with a wider network of emerging musicians as well as develop a relationship with an organisation who also assist with the development of young artists around the London area. Creative Sparks was a part of our wider ACE supported Creative Youth Connects Programme to offer more opportunities to younger artists starting their careers.

Key statistics:-

Funding and Support

During the period our key partners and funders included the Royal Borough of Kingston upon Thames [RBK], Arts Council England [ACE], Kingston University, National Lottery Heritage Fund and Kingston First. Financial grants were received from key trusts such as the Jectus Charitable Foundation.

We are grateful for their support and encouragement. Other ongoing financial and in-kind funders included:

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CREATIVE YOUTH

TRUSTEES’ ANNUAL REPORT FOR THE PERIOD ENDED 31 MARCH 2023 (continued)

ACHIEVEMENTS AND PERFORMANCE (continued)

Future Plans include:

The full launch of FUSEBOX to coincide with the FUSE International July 2023 programme of the space. We envisage still requiring time to the end of March 24 to fully build momentum and yearround activation of FB. Continued community engagement will be key, including the retention of a Marketing Manager and a new position of Programming Coordinator.

Creative Youth will see a restructuring of its leadership model, further to the departure of CEO, Louise Coles, who has been in position for nearly 6 years. She advised the Board in early 2023 of her intention to step down at the end of July 2023. This also presents an opportunity for the new leadership to review staffing needs and structures.

A full review of the festival will take place, with a special focus on FB, and the exponential growth of the charity. The Board recognises the financial challenges ahead and will look to review its business planning under a new management team.

Creative Youth’s new Young Creatives Panel of 14 will be given continued support as a group and as individuals over the next two years. They will continue to support the new leadership and charity’s plans.

We will complete the delivery of our two and a half year AMP heritage project and report back to the National Lottery Heritage Fund as needed.

FINANCIAL REVIEW AND GOING CONCERN

The results for the period are set out in the annexed Statement of Financial Activities.

The trustees consider the state of affairs of the charity as at 31 March 2023 to be satisfactory. In a prior period the trustees arranged for loan notes to be issued to support the charity’s balance sheet. These currently total £5,000 (30 September 2021: £5,000) and repayment has been deferred until at least 30 November 2024 unless financial circumstances permit earlier repayment.

In June 2020 the charity arranged a loan under the Government’s Bounce Back Loan Scheme. The balance as at 31 March 2023 was £9,962 (30 September 2021: £14,294).

The charity applied for and received a grant from the Arts Council England Culture Recovery Fund 3 of £32,936. The charity also applied for and received a grant from the Arts Council England National Lottery Projects of £74,587. These grants were supported by the Department for Digital, Culture, Media and Sport. The charity also received a grant from the Royal Borough of Kingston upon Thames’ Omicron Hospitality and Leisure grant of £2,667, which was funded by the Government.

For the 2023-24 year the uncertain economic outlook and the rebuilding of our audience for the festival and the hiring out of the new FUSEBOX space is difficult following the pandemic and is a significant area of financial uncertainty which the trustees are trying to mitigate. The trustees remain in regular contact with key sponsors such as the Royal Borough of Kingston upon Thames and Kingston University to secure ongoing financial support. Funding bid applications are about to be submitted with these financial statements, as well as fundraising activities being planned in order to secure sufficient funding for the next 12 months so that the charity continues to be a going concern.

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CREATIVE YOUTH

TRUSTEES’ ANNUAL REPORT FOR THE PERIOD ENDED 31 MARCH 2023 (continued)

FINANCIAL REVIEW AND GOING CONCERN (continued)

By taking these actions the trustees believe, while material uncertainty exists which may cause some doubt, that there will be sufficient funds for the going concern basis to be appropriate for the preparation of these financial statements.

Investment powers and policy

Under the constitution, the charity has the power to make any investment which the trustees see fit.

Reserves policy

The adequacy of the reserves policy is reviewed annually. The unrestricted General Fund reserves as at 31 March 2023 were £28,433 (30 September 2021: £23,516). It is our intention to maintain the reserves to cover at least three months’ running costs.

TRUSTEES RESPONSIBILITIES IN RELATION TO THE FINANCIAL STATEMENTS

The trustees (who are also directors for the purposes of company law) are required by charity law to prepare financial statements which 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 the income and expenditure for that period. The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity. The trustees confirm that suitable accounting policies have been used and applied consistently, applicable accounting standards including the Charities SORP, have been followed, and reasonable and prudent judgements and estimates have been made. The trustees are required to prepare the financial statements on a going concern basis unless it is inappropriate to presume that the charity will continue in business. The trustees are also responsible for safeguarding the assets of the charity and for taking reasonable steps for preventing and detecting 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.

Small company rules

The report has been prepared in accordance with the special provisions relating to companies subject to the small companies’ regime within Part 15 of the Companies Act 2006.

Signed on behalf of the Trustees

Date: 6 November 2023

R Hutchinson (Chairman)

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CREATIVE YOUTH

INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES OF CREATIVE YOUTH

I report on the accounts of the charity for the 18-month period ended 31 March 2023 which are set out on pages 13 to 23.

Respective responsibilities of trustees and examiner

The charity’s trustees (who are also directors of the company for the purposes of company law) are responsible for the preparation of the accounts. The trustees consider that an audit is not required for this period under section 144(2) of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed. The charity’s gross income exceeded £250,000 and I am qualified to undertake the examination by being a qualified member of the ACCA.

Having satisfied myself that the charity is not subject to audit under company law and is eligible for independent examination, it is my responsibility to:

  1. Examine the accounts under section 145 of the 2011 Act;

  2. Follow the procedures laid down in the General Directions given by the Charity Commission under section 145(5) (b) of the 2011 Act; and

  3. State whether particular matters have come to my attention.

Basis of independent examiners statement

My examination was carried out in accordance with General Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts and seeking explanations from the trustees concerning such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and consequently no opinion is given as to whether the accounts present a true and fair view and the report is limited to those matters set out in the statement below.

Independent examiner’s statement

In connection with my examination, no matter has come to my attention:

  1. Which gives me reasonable cause to believe that, in any material aspect, the trustees have not met the requirements:

  2. a. To keep accounting records in accordance with section 386 of the Companies Act 2006; and

  3. b. To prepare accounts which agree with the accounting records, comply with the accounting requirements of section 396 of the Companies Act 2006 and with the methods and principles of the Statement of Recommended Practice: Accounting and Reporting by Charities; or

  4. To which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.

John Alderton FCCA FCMI

40 Northmoor Way, Wareham, Dorset, BH20 4SJ.

Date: 7 November 2023

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CREATIVE YOUTH

STATEMENT OF FINANCIAL ACTIVITIES

INCLUDING INCOME AND EXPENDITURE ACCOUNT

FOR THE PERIOD ENDED 31 MARCH 2023

Note
INCOME
Income from generated activities:
Donations and financial support
3
Activities for generating funds:
Fundraising events income
Investment income
Income from charitable activities:
Festival income
4
Projects and commissions income
4
FUSEBOX income
4
TOTAL INCOME
EXPENDITURE
Costs of generating funds:
Fundraising events costs
Fundraising costs of grants and donations
Costs of charitable activities:
Festival costs
5
Projects and commissions costs
5
FUSEBOX costs
5
Support costs
5
Loan interest
TOTAL EXPENDITURE
NET INCOME
Reconciliation of Funds:
Total Funds brought forward
Total Funds carried forward
13		 18 months to 31 Mar 2023
Restricted
Unrestricted
Total
£
£
£
32,936
167,865
200,801
-
37,495
37,495
-
4
4
56,686
127,108
183,794
73,045
32,468
105,513
699,711
90,763
790,474
862,378
455,703
1,318,081
-
12,658
12,658
-
12,330
12,330
56,686
271,128
327,814
73,045
9,523
82,568
25,204
10,542
35,746
32,936
132,312
165,248
-
693
693
187,871
449,186
637,057
674,507
6,517
681,024
-
52,516
52,516
674,507
59,033
733,540		 18 months to 31 Mar 2023
Restricted
Unrestricted
Total
£
£
£
32,936
167,865
200,801
-
37,495
37,495
-
4
4
56,686
127,108
183,794
73,045
32,468
105,513
699,711
90,763
790,474
862,378
455,703
1,318,081
-
12,658
12,658
-
12,330
12,330
56,686
271,128
327,814
73,045
9,523
82,568
25,204
10,542
35,746
32,936
132,312
165,248
-
693
693
187,871
449,186
637,057
674,507
6,517
681,024
-
52,516
52,516
674,507
59,033
733,540		 12 months
to 30 Sep
2021
Restricted
£
32,936
-
-
56,686
73,045
699,711
862,378
-
-
56,686
73,045
25,204
32,936
-
187,871
674,507
-
674,507		 Unrestricted
£
167,865
37,495
4
127,108
32,468
90,763
455,703
12,658
12,330
271,128
9,523
10,542
132,312
693
449,186
6,517
52,516
59,033		 Total
£
280,383
5,960
32
94,022
33,752
-
414,149
1,447
8,944
255,998
12,127
8,711
91,606
239
379,072
35,077
17,439
52,516

The Statement of Financial Activities includes all gains and losses recognised in the period. All incoming resources and resources expended derive from continuing activities.

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CREATIVE YOUTH

BALANCE SHEET AS AT 31 MARCH 2023

Note
FIXED ASSETS
Tangible & intangible assets
8
CURRENT ASSETS
Debtors
9
Cash at bank and in hand
CREDITORS: Falling due within one year
10
NET CURRENT ASSETS
TOTAL ASSETS LESS CURRENT LIABILITIES
CREDITORS: Falling due after more than one
year
12
FUNDS
Unrestricted – general
13
Unrestricted - designated
13
Restricted
13		 31 March 2023
£
£
705,108
106,041
62,858
168,899
(133,484)
35,415
740,523
(6,983)
733,540
28,433
30,600
674,507
733,540		 30 September 2021 30 September 2021
£
106,041
62,858		 £
151,526
99,262		 £
29,001
34,939
168,899
(133,484)		 250,788
(215,849)
63,940
(11,424)
52,516
23,516
29,000
-
52,516

The directors are satisfied that the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. No member of the company has deposited a notice under section 476 requiring an audit of these financial statements. The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions of the Companies Act 2006 applicable to companies subject to the small companies’ regime and in accordance with FRS102 SORP.

R Hutchinson Director Formally approved by the Board on 6 November 2023

The attached notes form part of these financial statements.

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CREATIVE YOUTH

NOTES TO THE FINANCIAL STATEMENTS – 31 MARCH 2023

1 ACCOUNTING POLICIES

The principal accounting policies adopted in the preparation of the financial statements are set out below.

1.1 Basis of preparation

For the 2023-24 year the uncertain economic outlook and the rebuilding of our audience for the festival and the hiring out of the new FUSEBOX space is difficult following the pandemic and is a significant area of financial uncertainty which the trustees are trying to mitigate. The trustees remain in regular contact with key sponsors such as the Royal Borough of Kingston upon Thames and Kingston University to secure ongoing financial support. Funding bid applications are about to be submitted with these financial statements, as well as fundraising activities being planned in order to secure sufficient funding for the next 12 months so that the charity continues to be a going concern.

1.2 Incoming resources

Income from government and other grants, whether "capital" grants or "revenue" grants, is recognised when the charity has entitlement to the funds, any performance-related conditions attached to the grants have been met or contractual obligations have been fulfilled. Where the conditions have not been met or fulfilled then the income is deferred and not included in incoming resources until the pre-conditions have been met.

When donors specify that donations and grants given to the charity must be used in future accounting periods, the income is deferred until those periods.

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CREATIVE YOUTH

NOTES TO THE FINANCIAL STATEMENTS – 31 MARCH 2023

1 ACCOUNTING POLICIES (continued)

1.3 Volunteers and donated services

The value of services provided by volunteers is not incorporated into these financial statements as it is difficult to quantity their value.

Where services are provided to the charity as a donation that would normally be purchased, this contribution is included in the financial statements at an estimate based on the value of the contribution to the charity. Donated services and facilities are included as Donations and Financial Support in Note 3 to the financial statements.

1.4 Resources expended

Expenditure is recognised in the Statement of Financial Activities when a liability is incurred, and is inclusive of any VAT which cannot be recovered.

Costs of generating funds are those costs incurred in attracting voluntary income, and those incurred in trading activities that raise funds.

Charitable activities include expenditure associated with the objectives and include both the direct costs and support costs relating to these activities.

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

Support costs include central functions and have been allocated to activity cost categories on a basis consistent with the use of resources, e.g. allocating property costs by floor area, or per capita, staff costs by the time spent, and other costs by their usage.

1.5 Tangible & intangible fixed assets

Depreciation has been provided at rates calculated to write off each asset over its estimated useful life. The principal annual rates in use are:

1.6 Fund accounting

Funds held by the charity are either:

16

CREATIVE YOUTH

NOTES TO THE FINANCIAL STATEMENTS – 31 MARCH 2023

1 ACCOUNTING POLICIES (continued)

1.7 Stocks

Stocks are valued at the lower of cost and estimated net realisable value, after making due allowance for obsolete and slow-moving items.

1.8 Pension costs

The costs of contributions are written off against profits in the period they are payable.

1.9 Interest receivable

Interest is included when receivable by the charity.

2 FINANCIAL PERFORMANCE OF THE CHARITY

A summary of the financial performance of the charity is set out below:

Gross incoming resources
Total expenditure on charitable activities (Note 5)
Fundraising event costs
Fundraising costs of grants and donations
Finance costs – interest payable
Net incoming resources
Total funds brought forward
Total funds carried forward
Represented by:
Unrestricted income funds
Unrestricted capital fund
Restricted funds
DONATIONS AND FINANCIAL SUPPORT
Specific COVID support:
Government and local authority
Arts Council England
Donations
Donated services – valuation
Friends memberships		 2023
£
1,318,081
(611,376)
(12,658)
(12,330)
(693)
681,024
52,516
733,540
28,433
30,600
674,507
733,540
2023
£
2,667
32,936
5,386
159,174
638
200,801		 2021
£
414,149
(368,442)
(1,447)
(8,944)
(239)
35,077
17,439
52,516
23,516
29,000
-
52,516
2021
£
19,428
112,052
4,394
144,509
-
280,383

3 DONATIONS AND FINANCIAL SUPPORT

The charity is very grateful to all those who have provided support during the period whether financial or in offering their time and skills. It wishes to acknowledge the Arts Council England for their financial support.

17

CREATIVE YOUTH

NOTES TO THE FINANCIAL STATEMENTS – 31 MARCH 2023

3 DONATIONS AND FINANCIAL SUPPORT (continued)

The charity is indebted to landlords for the free use of the offices for the 18-month period, valued at £21,038 (2021: £14,025) and to Microsoft for software licences valued at £4,770 (2021: £4,770). The income equivalent has been recognised within incoming resources as donated services and an equivalent charge included within support costs.

The charity is further indebted to the Royal Borough of Kingston Upon Thames for the available use of the Rose Theatre venue under the “New Deal” agreement and to Kingston College for the use of their venues. The value placed on these contributions is £132,914 for this period (2021: £125,714). The income equivalent has been recognised within incoming resources as donated services and an equivalent charge included within festival costs.

4 INCOME FROM CHARITABLE ACTIVITIES

Festival income:
Sponsors, local authorities and grants
Box office sales
Registration and participation fee income
Merchandising and bar income
Programme advertising income
Projects and commissions income:
Sponsors, local authorities and grants
Box office sales
FUSEBOX income:
Sponsors, local authorities and grants
Pilot programme income
Capital grant to refurbish space		 2023
£
£
146,936
27,559
4,833
2,572
1,894
183,794
103,318
2,195
105,513
101,872
1,478
103,350
687,124
790,474
1,079,781		 2021 2021
£
146,936
27,559
4,833
2,572
1,894		 £
66,491
23,745
1,771
242
1,773		 £
94,022
33,752
-
103,318
2,195		 32,813
939
101,872
1,478		 -
-
103,350
687,124		 -
-
127,774

The charity is very grateful to all those who have provided support during the period. It wishes to acknowledge the Arts Council England, Royal Borough of Kingston, Kingston University, Kingston First, National Lottery Heritage Fund, Jectus Charitable Foundation, Canadian & Riverside Estates and D’Oyly Carte Charitable Trust for their financial support.

Grant funding given to the charity by the Mayor of London (Greater London Authority) via Kingston Council, is being used to refurbish our new creative space called FUSEBOX. In accordance with the SORP this income is reflected as income from charitable activities. The charity is indebted to the Mayor of London (GLA), John Lewis, Kingston Council and others in allowing this project to come to fruition.

18

CREATIVE YOUTH

NOTES TO THE FINANCIAL STATEMENTS – 31 MARCH 2023

5 ANALYSIS OF CHARITABLE EXPENDITURE

ANALYSIS OF CHARITABLE EXPENDITURE
Festival costs:
Festival production costs
Merchandising and bar costs
Environmental audit
Marketing and publicity
Donated facilities – rent of venues
Projects and commissions costs:
Creative Talent Programme costs
Arts Music Pop project costs
Other project and commissions costs
FUSEBOX costs:
Undercroft pre-opening costs
FUSEBOX pilot programme costs
Depreciation
Support costs:
Administration expenses
Donated facility- rent-free office premises
Total support costs		 2023
£
£
174,699
1,962
4,000
14,239
194,900
132,914
327,814
31,723
26,415
24,430
82,568
2,650
20,479
12,617
35,746
144,210
21,038
165,248
611,376		 2021
£
174,699
1,962
4,000
14,239		 £
119,540
622
-
10,122		 £
255,998
12,127
8,711
91,606
194,900
132,914		 130,284
125,714
31,723
26,415
24,430		 12,127
-
-
2,650
20,479
12,617		 8,711
-
-
144,210
21,038		 77,581
14,025
368,442

6 STAFF

Staff costs were as follows:
Administration staff and expenses
Employers pension costs		 2023
£
65,666
3,240
68,906		 2021
£
33,300
1,089
34,389

During the 18 months to March 2023 the trustees did not receive any remuneration or expenses. No pension benefits were accruing to any trustee. The average monthly number of employees during the period was 2 in administration (2021: 2 in administration).

7 TAXATION

No charge arises due to the charitable status of the company.

19

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NOTES TO THE FINANCIAL STATEMENTS – 31 MARCH 2023

8 TANGIBLE & INTANGIBLE FIXED ASSETS

COST
At 30 September 2021
Additions in the period
At 31 March 2023
DEPRECIATION
At 30 September 2021
Charge for the period
At 31 March 2023
NET BOOK VALUE
At 31 March 2023
At 30 September 2021		 Equipment
£
34,942
24,706
59,648
34,941
-
34,941
24,707
1		 Website
£
29,000
7,000
36,000
-
5,400
5,400
30,600
29,000		 Leasehold
Property
Improvements
£
-
662,418
662,418
-
12,617
12,617
649,801
-		 Total
£
63,942
694,124
758,066
34,941
18,017
52,958
705,108
29,001

Loan notes issued totalling £5,000 (2020: £9,500) are secured on the equipment.

9 DEBTORS

DEBTORS
Trade debtors
Accrued income
Prepayments
Deposit with landlord – refundable
VAT		 2023
£
2,780
25,357
2,648
2,000
73,256
106,041		 2021
£
5,262
11,501
114,330
2,000
18,433
151,526

10 CREDITORS: Falling due within one year

CREDITORS: Falling due within one year
Trade creditors
Accrued expenses
Deferred income (Note 11)
Other sundry creditors
Short-term loans (Note 12)		 2023
£
6,276
1,040
115,848
2,341
125,505
7,979
133,484		 2021
£
1,412
604
203,089
2,874
207,979
7,870
215,849

20

CREATIVE YOUTH

NOTES TO THE FINANCIAL STATEMENTS – 31 MARCH 2023

11 DEFERRED INCOME

DEFERRED INCOME
Balance b/f
Released to income
Amount deferred in period - Capital grant
Amount deferred in period - Revenue grants
Balance c/f		 2023
£
203,089
(202,881)
30,876
84,764
115,848		 2021
£
44,928
(41,539)
112,036
87,664
203,089

During the period the charity received monies from Royal Borough of Kingston upon Thames, Reaching Communities, Canadian and Riverside and NHS parts of which are deferred to the following year until performance conditions have been met, mainly for activities which were to take place after the balance sheet date.

12 LOANS AND OVERDRAFTS

The aggregate amount of loans and overdrafts was as follows:

Falling due within one year:-
Bounce Back bank loan
Loan notes
Falling due after more than one year:-
Bounce Back bank loan		 2023
£
2,979
5,000
7,979
6,983		 2021
£
2,870
5,000
7,870
11,424

The Bounce Back bank loan which totals £9,962 is repayable by June 2026 by 60 monthly instalments of £266 which commenced in June 2021. The rate of interest on the loan is 2.5% per annum.

Analysis of borrowings falling due:

Analysis of borrowings falling due:
Due within 5 years:
Within 1 year as above
Between 1 and 2 years
Between 2 and 5 years
Total loans and overdrafts		 2023
£
7,979
3,055
3,928
14,962		 2021
£
7,870
2,943
8,481
19,294

21

CREATIVE YOUTH

NOTES TO THE FINANCIAL STATEMENTS – 31 MARCH 2023

13 STATEMENT OF FUNDS

Unrestricted funds:-
General unrestricted funds
Designated website capital fund
Restricted funds:-
General restricted funds
FUSEBOX capital fund
Total funds		 At 1 Oct
2021
£
23,516
29,000
52,516
-
-
-
52,516		 Incoming
Resources
£
448,703
7,000
455,703
175,254
687,124
862,378
1,318,081		 Outgoing
Resources
£
(443,786)
(5,400)
(449,186)
(175,254)
(12,617)
(187,871)
(637,057)		 At 31 Mar
2023
£
28,433
30,600
59,033
-
674,507
674,507
733,540

Unrestricted general fund – This represents the “free reserves” after allowing for all unrestricted designated funds.

Unrestricted designated fund – Represents grants to cover the cost of the new website that went live in October 2021. The addition in the period relates to further branding and website work. The balance will reduce as the website is depreciated.

Restricted general funds – Represents grants for specific purposes, all used within the period.

Restricted FUSEBOX capital fund – This represents grants for the leasehold improvement works to refurbish FUSEBOX. The fund will reduce over the period of the lease by way of depreciation.

14 TRANSACTIONS WITH RELATED PARTIES AND TRUSTEES

During the period the charity received funds from parties that the charity has a close relationship with. Details are set out in the Trustees’ Report and in Notes 3 and 4 to the financial statements. No monies were owed by related parties at the period-end (2021: £nil).

R Hutchinson, M Hanson-Akins, R O’Dowd and J Piper, trustees, are directors of the Kingston Theatre Trust (KTT) which operates the Rose Theatre, a venue used for the festival. R Hutchinson, J Piper and M Hanson-Akins resigned from KTT during the period. P Mayhew-Smith, a trustee, is the principal of Kingston College, a key partner with the charity, and is a director of Kingston First. R O’Dowd is also a director of the Kingston Chamber of Commerce and Kingston First. J Piper, a trustee, is associate professor of dance at Kingston University, a key partner. R Hutchinson and B Alderton, trustees, are directors of the Community Brain CIC, a key partner.

The trustees provide their time and expertise without remuneration for the benefit of the charity. No payments have been made to trustees during this period.

22

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NOTES TO THE FINANCIAL STATEMENTS – 31 MARCH 2023

14 TRANSACTIONS WITH RELATED PARTIES AND TRUSTEES (continued)

Loans totalling £14,000 were made to the charity in a prior period by trustees and officers of the charity. The loans were made by way of loan notes secured on the fixed assets of the company. Interest is payable at the rate of 1.5% above the bank base rate per annum. Interest paid during the period amounted to £693 (2021: £239). The loan notes were repayable on demand on 1 April 2015, however owners of the loan notes have agreed not to seek repayment until financial circumstances permit.

15 CONTROLLING PARTY AND LEGAL STATUS

The charity is a company limited by guarantee and has no share capital. The liability of each member in the event of a winding up is limited to £1. No one member controls the company.

23