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← Creative Youth

2024-03-31-accounts

CREATIVE YOUTH

(A company limited by guarantee)

REPORT AND FINANCIAL STATEMENTS

YEAR ENDED 31 MARCH 2024

Charity Number 1132314 Company Number 06848384

CREATIVE YOUTH

INDEX Page 1 Company Information Pages 2 - 12 Report of the Trustees Page 13 Independent Examiner’s Report to the Trustees Page 14 Statement of Financial Activities Page 15 Balance Sheet Pages 16 - 25 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 G Miles M Cadie Hunte A Brember – Appointed: 16 November 2023 V A Mather – Appointed: 16 November 2023 J C Shave – Appointed: 18 January 2024 A Prashar - Resigned: 6 September 2023

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 YEAR ENDED 31 MARCH 2024

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 year ended 31 March 2024.

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 15 members (2023: 12), 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 year, 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 Co-Directors, Festival Director and 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, Kingston First and The Community Brain CIC.

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CREATIVE YOUTH

TRUSTEES’ ANNUAL REPORT FOR THE YEAR ENDED 31 MARCH 2024 (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 year was that of running projects alongside the provision of an annual festival for charitable purposes. The charity also managed the transformation of a disused space to create a new facility for a range of creative activity and public events.

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

Mission

Creative Youth creates futures through the arts. We enable all young people aged 5-30 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.

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CREATIVE YOUTH

TRUSTEES’ ANNUAL REPORT FOR THE YEAR ENDED 31 MARCH 2024 (continued)

OBJECTIVES AND ACTIVITIES (continued)

Mission (continued)

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

One strong focus is to create more opportunities for young people who are from backgrounds where there is limited engagement with or poor 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 previous accounting 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. The comparative figures are accordingly for an 18-month period.

Significant progress has taken place during the year ended 31 March 2024 including:-

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CREATIVE YOUTH

TRUSTEES’ ANNUAL REPORT FOR THE YEAR ENDED 31 MARCH 2024 (continued)

ACHIEVEMENTS AND PERFORMANCE (continued)

FUSE International festival

FUSE International 2023 was the first festival since 2019 that was only minimally impacted by the COVID-19 pandemic, though the arts sector still faced challenges due to the ongoing Cost of Living Crisis. Despite these pressures the festival saw growth in key areas, including audience size, earned income and participant numbers.

The Rose programme continued to thrive, with strong partnerships and success reflected in positive feedback and growing interest. As a result, applications for 2024 were received immediately following the festival. A highlight was the presentation of WILD by the Hong Kong City Chamber Orchestra, a performance that featured 40 performers and 75 technical crew. This collaboration showcased FUSE International’s reach and a successful school matinee doubled school attendance from the previous year. Collaborations with organizations like National Youth Music Theatre and Coombe Boys School further elevated the festival, with strong audience attendance and positive feedback.

The Fringe programme expanded across various spaces like the Rose Studio, the Arthur Cotterell Theatre (ACT) and FUSEBOX. The ACT main stage proved valuable for companies, schools and colleges with smaller-scale productions, while studio spaces supported emerging companies and fringe-style shows, contributing to the festival’s vibrant atmosphere. FUSEBOX, cautiously programmed due to being its first year of operations, is expected to become the central hub for fringe performances, with a focus on strengthening its role in the festival’s overall identity.

Music played a crucial role, with performances from Tinderbox Orchestra and Axiom Choir, as well as a diverse range of young musicians on outdoor stages across Kingston. The festival’s music programme was curated by Ukrainian YC Mariia Yaremak, and the strong presence of London-based international musicians added to the festival’s global spirit.

Whilst the open-access model suited the post-Covid context, future festivals may consider a different approach. Despite its ongoing success, the organisation must also acknowledge the financial challenges presented by the festival, particularly having opened a new venue which requires further investment. Nevertheless, the relationship between these two strands of work offers much potential.

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CREATIVE YOUTH

TRUSTEES’ ANNUAL REPORT FOR THE YEAR ENDED 31 MARCH 2024 (continued)

ACHIEVEMENTS AND PERFORMANCE (continued)

FUSE International festival (continued)

Key 2023 festival statistics:-

FUSEBOX

Following on from the previous period, we successfully continued FUESBOX’s Pilot Programme to test our new venture with artists and hirers alike. The Pilot concluded with the venue’s official opening in July 2023 during FUSE International. The event was attended by over 200 key partners including our President HRH The Duke of Edinburgh and marked a major milestone in our organisation’s history.

Located on a historically rich site that includes the Medieval Undercroft and Anglo-Saxon bridge footings, FUSEBOX celebrates its heritage through partnerships with Kingston College, Kingston University, Royal Borough of Kingston upon Thames (RBK) and various heritage organisations including the Friends of Kingston Museum, Kingston History Centre and the Kingston Society. These collaborations help integrate history into our artistic programme.

The artistic programme at FUSEBOX features a mix of in-house and external initiatives, all showcasing emerging talent. A highlight was working with Dhaga from March to August 2023 to deliver community workshops and an exhibition by young South Asian artists. Our Young Creatives continued to thrive by programming activities such as our Creative Sparks scratch nights and a weeklong residency for Climate Cabaret performances. We also delivered our first Festive Programme in December 2023, welcoming festival alumni such as the Bad Clowns and Story Storks.

FUSEBOX presents strong potential for earned income, with multiple revenue streams contributing to its financial sustainability. There is reliable revenue from bar sales during events, but the café’s profitability remains a work in progress. Venue hire continues to grow, with bookings for RBK, community groups, corporate events and private functions taking place on a regular basis.

Operations have been strengthened by the creation of two full-time roles, Programmes Manager and Marketing Coordinator, alongside the retention of the Venue Manager role. A casual Front of House staff pool has also been created. Despite some operational challenges such as a lift access issue and ongoing concerns about anti-social behaviour, we work closely with RBK and the Metropolitan Police to ensure FUSEBOX remains safe and welcoming for all.

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CREATIVE YOUTH

TRUSTEES’ ANNUAL REPORT FOR THE YEAR ENDED 31 MARCH 2024 (continued)

ACHIEVEMENTS AND PERFORMANCE (continued)

FUSEBOX (continued)

Key statistics:-

Skills Development Programme (SDP)

The SDP offers a wide range of training, internships, work experience placements and volunteering opportunities in areas such as marketing, design, event management and customer service. These tailored experiences aim to build confidence and equip young people with the skills they need to transition into the workforce.

FUSE International plays a central role in the SDP, offering valuable work-based training. Again this year we hosted the vast majority of our placements with students from Kingston College. Integrating the programme into the festival continues to nurture the next generation of creative professionals through hands-on exposure to the arts industry.

FUSEBOX also plays a key role in the SDP, offering bespoke internships and work-based learning opportunities. In this year this included 3 Kingston University students who undertook placements which contributed to their degree credits and provided valuable industry experience. Through FUSEBOX our partner network continues to grow, such as new collaborations with the South London Partnership Careers Hub. In March 2024, we co-delivered a ‘Teachers Encounters’ teacher training day about the creative industries.

As COVID-19 international travel restrictions eased, we also welcomed interns from around the world, including students from St. Lawrence University in the USA and from Kingston-upon-Thames’ twinned town of Oldenburg, Germany. The expansion of our international partnerships is a priority, particularly as FUSEBOX offers year-round opportunities for emerging creatives.

Key statistics:-

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CREATIVE YOUTH

TRUSTEES’ ANNUAL REPORT FOR THE YEAR ENDED 31 MARCH 2024 (continued)

ACHIEVEMENTS AND PERFORMANCE (continued)

Creative Talent Programme (CTP)

Creative Youth’s CTP was established in response to the growing need for emerging and early-career artists to develop not only their artistic skills, but also their business acumen and ability to create new work in a challenging social and economic climate.

Tanvi Ranjan, an Indian born Kingston University alumni textile artist, completed her time as a CTP artist during this year, having joined the programme in 2022. Over the course of her involvement, Tanvi benefited from professional training and showcased her work at both FUSE International and FUSEBOX, deepening our understanding of what FUSEBOX offers emerging visual artists.

In May 2023, we secured a grant from the Foyle Foundation to support an Artist in Residence project focused on the heritage within FUSEBOX. Following an application process with 24 artists, local artist Steph Ward was selected to produce a stained-glass installation. Steph was also provided with inkind studio space at FUSEBOX to create her work entitled “Undercræft”, which went on to be installed in May 2024.

In December 2023, we received a further Arts Council England Project Grant to continue developing the CTP. This grant gave four YCs the opportunity to programme ‘Creative Sparks’ scratch nights. These events culminated in selecting our next two CTP artists for 2024–2025: Oscar Rodriguez, a Salvadoran-American poet and performance artist, and Jozoway, a writer, book artist and community-focused performer.

Key statistics:-

CY Connects (Community)

Building on the success of our Arts Council England-funded CY Connects project, which supported community activities in the prior period, this strand has now been fully integrated into our work, supported by various project grants.

Support from the National Lottery Community Fund continued the delivery of our Mindful Art Sessions, a youth mental wellbeing programme developed in collaboration with Mind in Kingston and Richmond Borough Mind. The programme has proven highly beneficial and will continue through 2026, with an National Lottery Community Fund grant secured.

Funding from The Foyle Foundation saw us deliver a visual arts and heritage project at FUSEBOX. Structured into four strands - the Artist Heritage Project, Schools Heritage Project, AMP Kingston and the Korean British Cultural Exchange Community Exhibition – the project explored Kingston's cultural heritage alongside diverse communities.

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CREATIVE YOUTH

TRUSTEES’ ANNUAL REPORT FOR THE YEAR ENDED 31 MARCH 2024 (continued)

ACHIEVEMENTS AND PERFORMANCE (continued)

CY Connects (Community) (continued)

A key highlight was the continued delivery of AMP Kingston, supported by the National Lottery Heritage Fund. This included completing episodes for the AMPlify Podcast in collaboration with our Heritage Collective. The project reached a significant milestone with its largest output to date from January to March 2024; the AMP Kingston Exhibition at FUSEBOX and wider Project Trail featuring over twenty interactive sites across Kingston. These installations brought the exhibition’s themes into the public realm, reinforcing our cultural presence in the area and encouraging visitors to engage with Kingston’s rich history.

Key statistics:-

Funding and Support

During the year our key partners and funders included the Royal Borough of Kingston upon Thames [RBK], Arts Council England [ACE], Kingston University, Kingston College, National Lottery Heritage Fund, National Lottery Community Fund, Kingston First, London Borough of Richmond upon Thames, South West Railways and Heritage Compass. Financial grants were received from key trusts such as the Jectus Charitable Foundation and The Foyle 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 YEAR ENDED 31 MARCH 2024 (continued)

ACHIEVEMENTS AND PERFORMANCE (continued)

Future Plans:

To ensure ongoing growth and sustainability, we will conduct a comprehensive review of our leadership structure and business plan. This review will improve efficiency and diversify funding sources. In addition, a staff restructure which took place after the year-end, in August 2024, seeks to align our team with the evolving operational demands of the organisation.

FUSE International will be expanded through increased international partnerships and a review of the Rose theatre programme to generate maximum earned income. We are also reviewing the festival’s Open Access model. With FUSEBOX now fully operational, we will also explore the potential to expand the festival within the venue and maximise exposure for our work.

We will continue to develop FUSEBOX as a vibrant hub for artistic creation, community engagement and financial sustainability. To support this we will maximise venue hire opportunities and further develop our own artistic programme in partnership with local, national and international collaborators.

We aim to continue to assess how FUSEBOX offers new opportunities for both the CTP and SDP, ensuring our space aligns with the evolving needs of young people as they transition into the workforce. As our current third cohort of YCs comes to the end of their tenure in 2024, our next cohort will continue to be key advisors and participants to these programmes.

Finally, we are pleased to report the completion of the AMP Kingston project after the year end, in June 2024. A comprehensive report has been submitted to the National Lottery Heritage Fund and the insights gained from AMP Kingston will continue to inform future heritage programming at FUSEBOX. This ongoing work will deepen our connection with the Kingston community and help artists engage more fully with the area’s rich cultural history.

FINANCIAL REVIEW AND GOING CONCERN

The results for the year are set out in the annexed Statement of Financial Activities. Although total incoming resources have reduced from £1,318,081 to £666,284, it should be recognised that the previous accounting period was for 18 months and also included capital funding of £687,124. After accounting for capital funding in the current year of £36,131, incoming resources for the current year have remained equal to the previous period despite it only being for 12 months instead of 18 months.

Trading income from our new venue space, FUSEBOX, is starting to increase but it is recognised that it will take some time to promote awareness of the venue and its subsequent use and hire.

The trustees consider the state of affairs of the charity as at 31 March 2024 to be fiscally challenging. 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 (2023: £5,000) and repayment has been deferred until at least 31 January 2026 unless financial circumstances permit earlier repayment. In September 2024 further loans totalling £17,000 were arranged with repayment due in April 2026.

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CREATIVE YOUTH

TRUSTEES’ ANNUAL REPORT FOR THE YEAR ENDED 31 MARCH 2024 (continued)

FINANCIAL REVIEW AND GOING CONCERN (continued)

In June 2020 the charity arranged a loan under the Government’s Bounce Back Loan Scheme. The balance as at 31 March 2024 was £6,983 (2023: £9,962). After the year-end the charity has taken advantage of a 6-month repayment break and is paying only interest for those 6 months. The loan will be repaid by December 2026.

The charity applied for and received a grant from the Arts Council England National Lottery Projects of £30,000. This grant is supported by the Department for Digital, Culture, Media and Sport.

The challenges facing our organisation are largely sector-wide concerns. Factors include a reduction in Core Costs support from Trusts and Foundations, as well as shifting priorities from funding bodies such as Arts Council England, which has moved funding away from the Greater London Area. This is further compounded by a decade long decrease in central and local government funding for the arts, and challenges within the wider economy—such as COVID-19 and the Cost of Living crisis—which has led to increased overheads for many organisations. This has placed additional pressure on our organisation to develop new income streams such as earned income, public donations, and corporate sponsorship—areas in which FUSEBOX presents the greatest potential for success. These significant difficulties have resulted in a deficit for the year.

In response, our Trustees and Executive Team approved the use of reserves to invest in artistic development and expand operations by opening FUSEBOX. This decision was based on anticipated return on investment, including new earned income opportunities and increased visibility with both existing and new funding and in-kind partners.

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 still difficult following the pandemic and is a significant area of financial uncertainty which the trustees are trying to mitigate. The finance subcommittee meet monthly and at each meeting consider any going concern issues. The trustees remain in regular contact with key strategic partners such as the Royal Borough of Kingston upon Thames, Kingston University and Kingston College to secure ongoing financial support where necessary. Further funding bid applications are about to be submitted this month and in early January, 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.

In September 2024 we launched a public Crowdfunder, we received the support of over 150 people and exceeded our £15,000 target.

Also after the year end a staff review and restructure took place to be more efficient; currently the business plan is being updated; and our aims include growing our audience and increasing the usage and hiring of the new space.

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.

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CREATIVE YOUTH

TRUSTEES’ ANNUAL REPORT FOR THE YEAR ENDED 31 MARCH 2024 (continued)

FINANCIAL REVIEW AND GOING CONCERN (continued)

Reserves policy

Reserves are needed to bridge the gap between the spending and receiving of income and to cover unplanned emergency repairs and expenditure.

The adequacy of the reserves policy is reviewed annually. The unrestricted reserves as at 31 March 2024 were £34,043 (2023: £59,033) but after making allowances for those resources designated for fixed assets that are not realisable the free reserves of the charity were £1,643 (2023: £28,433). It is our intention to re-build our free 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: 16 December 2024

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 year ended 31 March 2024 which are set out on pages 14 to 25.

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 year 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: 17 December 2024

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CREATIVE YOUTH

STATEMENT OF FINANCIAL ACTIVITIES

INCLUDING INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 31 MARCH 2024

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 (EXPENDITURE) / INCOME
Reconciliation of Funds:
Total Funds brought forward
Total Funds carried forward
13		 12 months to 31 Mar 2024
Restricted
Unrestricted
Total
£
£
£
-
173,526
173,526
-
49,112
49,112
-
-
86,668
86,668
142,117
37,463
179,580
29,159
148,239
177,398
171,276
495,008
666,284
-
16,552
16,552
-
9,578
9,578
-
235,632
235,632
110,144
23,569
133,713
86,195
125,981
212,176
31,001
108,299
139,300
-
387
387
227,340
519,998
747,338
(56,064)
(24,990)
(81,054)
674,507
59,033
733,540
618,443
34,043
652,486		 12 months to 31 Mar 2024
Restricted
Unrestricted
Total
£
£
£
-
173,526
173,526
-
49,112
49,112
-
-
86,668
86,668
142,117
37,463
179,580
29,159
148,239
177,398
171,276
495,008
666,284
-
16,552
16,552
-
9,578
9,578
-
235,632
235,632
110,144
23,569
133,713
86,195
125,981
212,176
31,001
108,299
139,300
-
387
387
227,340
519,998
747,338
(56,064)
(24,990)
(81,054)
674,507
59,033
733,540
618,443
34,043
652,486		 18 months
to 31 Mar
2023
Restricted
£
-
-
-
142,117
29,159
171,276
-
-
-
110,144
86,195
31,001
-
227,340
(56,064)
674,507
618,443		 Unrestricted
£
173,526
49,112
86,668
37,463
148,239
495,008
16,552
9,578
235,632
23,569
125,981
108,299
387
519,998
(24,990)
59,033
34,043		 Total
£
200,801
37,495
4
183,794
105,513
790,474
1,318,081
12,658
12,330
327,814
82,568
35,746
165,248
693
637,057
681,024
52,516
733,540

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

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CREATIVE YOUTH

BALANCE SHEET AS AT 31 MARCH 2024

Note
FIXED ASSETS
Tangible and intangible assets
8
CURRENT ASSETS
Stock
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 2024
£
£
650,844
606
72,742
16,695
90,043
(82,936)
7,107
657,951
(5,465)
652,486
1,643
32,400
618,443
652,486		 31 March 2023 31 March 2023
£
606
72,742
16,695		 £
-
106,041
62,858		 £
705,108

35,415
90,043
(82,936)		 168,899
(133,484)
740,523
(6,983)
733,540
28,433
30,600
674,507
733,540

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 16 December 2024

The attached notes form part of these financial statements.

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CREATIVE YOUTH

NOTES TO THE FINANCIAL STATEMENTS – 31 MARCH 2024

1 ACCOUNTING POLICIES

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

1.1 Basis of preparation

The uncertain economic outlook; the willingness of the public to purchase tickets for performances; the changing priorities of funding bodies related to our location, young people and the arts; the shortage of available finance from local authorities and educational establishments; all create a significant area of financial uncertainty which the trustees and executive team are constantly trying to mitigate by, for example, reviewing the business plan and a staff restructure to be more efficient and aiming to grow our audience and the market for hiring our new space.

These uncertainties cause some concern in respect of going concern. A forecast has been prepared covering a period of at least a period of 12 months from the signing of these accounts which show sufficient funding to continue, however the company remains reliant on projected funding from 2 or 3 key stakeholders, heavily relies on the success of funding bids made and being made to trusts and foundations and relies on forecast income from the new venue, FUSEBOX. This new venue presents a huge potential for earned income, with multiple revenue streams which the trustees believe will secure the future financial stability of the company. Key stakeholders have confirmed their support. Based on the above the trustees consider that the going concern basis of preparation of the accounts is still appropriate.

1.2 Incoming resources recognition

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CREATIVE YOUTH

NOTES TO THE FINANCIAL STATEMENTS – 31 MARCH 2024

1 ACCOUNTING POLICIES (continued)

1.2 Incoming resources recognition (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:

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NOTES TO THE FINANCIAL STATEMENTS – 31 MARCH 2024

1 ACCOUNTING POLICIES (continued)

1.6 Fund accounting

Funds held by the charity are either:

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 (outgoing) / incoming resources
Total funds brought forward
Total funds carried forward
Represented by:
Unrestricted income funds
Unrestricted capital fund
Restricted funds		 12 months
to 31 Mar
2024
£
666,284
(720,821)
(16,552)
(9,578)
(387)
(81,054)
733,540
652,486
1,643
32,400
618,443
652,486		 18 months
to 31 Mar
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

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NOTES TO THE FINANCIAL STATEMENTS – 31 MARCH 2024

3 DONATIONS AND FINANCIAL SUPPORT

Specific COVID support:
Government and local authority
Arts Council England
Donations
Donated services – valuation
Friends memberships		 12 months
to 31 Mar
2024
£
-
-
21,431
152,024
71
173,526		 18 months
to 31 Mar
2023
£
2,667
32,936
5,386
159,174
638
200,801

The charity is very grateful to all those who have provided support during the year whether financial or in offering their time and skills.

The charity is indebted to landlords for the free use of the offices for the year, valued at £14,025 (18 months to March 2023: £21,038) and to Microsoft for software licences valued at £5,085 (18 months to March 2023: £5,222). 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 year (18 months to March 2023: £132,914). The income equivalent has been recognised within incoming resources as donated services and an equivalent charge included within festival costs.

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CREATIVE YOUTH

NOTES TO THE FINANCIAL STATEMENTS – 31 MARCH 2024

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
Grants used to purchase fixed assets
Box office sales
FUSEBOX income:
Sponsors, local authorities and grants
Venue hire, bar and commission income
Capital grant to refurbish space		 12 months to 31 Mar
2024
£
£
42,094
34,385
5,186
1,910
3,093
86,668
172,145
6,972
463
179,580
114,764
33,475
148,239
29,159
177,398
443,646		 18 months to 31 Mar
2023		 18 months to 31 Mar
2023
£
42,094
34,385
5,186
1,910
3,093		 £
146,936
27,559
4,833
2,572
1,894		 £
183,794
105,513
790,474
172,145
6,972
463		 103,318
-
2,195
114,764
33,475		 101,872
1,478
148,239
29,159		 103,350
687,124
1,079,781

The charity is very grateful to all those who have provided support during the year. It wishes to acknowledge the Arts Council England, Royal Borough of Kingston upon Thames, Kingston University, Kingston First, National Lottery Heritage Fund, National Lottery Community Fund, Jectus Charitable Foundation, Canadian & Riverside Estates, Foyle Foundation, London Borough of Richmond upon Thames, Heritage Compass, South West Railways and Priavo Security for their financial support.

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NOTES TO THE FINANCIAL STATEMENTS – 31 MARCH 2024

5 ANALYSIS OF CHARITABLE EXPENDITURE

5
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:
Staffing and expenses
Artistic programme
Marketing and publicity
FUSEBOX costs:
FUSEBOX production costs
Bar costs
Marketing and publicity
Overheads
Depreciation
Support costs:
Administration expenses
Depreciation
Donated facility- rent-free office premises
Total support costs
6
STAFF COSTS
Staff costs were as follows:
Administration staff salaries and expenses
Employers pension costs		 12 months to 31 Mar
2024
18 months to 31 Mar
2023
£
£
£
£
91,663
174,699
1,486
1,962
-
4,000
9,569
14,239
102,718
194,900
132,914
132,914
235,632
327,814
62,401
31,532
56,897
46,347
14,415
4,689
133,713
82,568
102,326
15,124
5,639
979
6,848
2,609
11,168
4,417
86,195
12,617
212,176
35,746
121,075
138,810
4,200
5,400
14,025
21,038
139,300
165,248
720,821
611,376
12 months
to 31 Mar
2024
18 months
to 31 Mar
2023
£
£
32,095
65,666
1,519
3,240
33,614
68,906		 18 months to 31 Mar
2023
£
91,663
1,486
-
9,569		 £
174,699
1,962
4,000
14,239		 £
327,814
82,568
35,746
165,248
102,718
132,914		 194,900
132,914
62,401
56,897
14,415		 31,532
46,347
4,689
102,326
5,639
6,848
11,168
86,195		 15,124
979
2,609
4,417
12,617
121,075
4,200
14,025		 138,810
5,400
21,038
611,376

During the year ended 31 March 2024 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 year was 2 in administration (2023: 2 in administration).

7 TAXATION

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

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NOTES TO THE FINANCIAL STATEMENTS – 31 MARCH 2024

8 TANGIBLE & INTANGIBLE FIXED ASSETS

COST
At 31 March 2023
Additions in the year
At 31 March 2024
DEPRECIATION
At 31 March 2023
Charge for the year
At 31 March 2024
NET BOOK VALUE
At 31 March 2024
At 31 March 2023		 Equipment
£
59,648
24,568
84,216
34,941
9,855
44,796
39,420
24,707		 Website
£
36,000
6,000
42,000
5,400
4,200
9,600
32,400
30,600		 Leasehold
Property
Improvements
£
662,418
5,563
667,981
12,617
76,340
88,957
579,024
649,801		 Total
£
758,066
36,130
794,196
52,958
90,394
143,352
650,844
705,108

Loan notes issued totalling £5,000 (2023: £5,000) are secured on the equipment.

9 DEBTORS

DEBTORS
Trade debtors
Accrued income
Prepayments
Deposit with landlord – refundable
VAT repayment due		 2024
£
6,273
40,329
24,140
2,000
-
72,742		 2023
£
2,780
25,357
2,648
2,000
73,256
106,041

10 CREDITORS: Falling due within one year

CREDITORS: Falling due within one year
Trade creditors
Accrued expenses
Deferred income (Note 11)
Amounts due to HMRC, including VAT
Other sundry creditors
Short-term loans (Note 12)		 2024
£
8,438
9,018
50,098
7,537
1,327
76,418
6,518
82,936		 2023
£
6,276
1,040
115,848
1,872
469
125,505
7,979
133,484

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CREATIVE YOUTH

NOTES TO THE FINANCIAL STATEMENTS – 31 MARCH 2024

11 DEFERRED INCOME

DEFERRED INCOME
Balance b/f
Released to income
Amount deferred in year - Capital grant
Amount deferred in year - Revenue grants
Balance c/f		 2024
£
115,848
(114,131)
-
48,381
50,098		 2023
£
203,089
(202,881)
30,876
84,764
115,848

During the year the charity received monies from Royal Borough of Kingston upon Thames, Kingston First, National Lottery Community Fund and Arts Council England, 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		 2024
£
1,518
5,000
6,518
5,465		 2023
£
2,979
5,000
7,979
6,983

The Bounce Back bank loan which totals £6,983 was originally 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. From August 2024 until January 2025 the charity has taken advantage of a 6-month repayment break and is paying only the interest amount for those 6 months. The normal repayments will then re-start and therefore the loan will be repaid by December 2026.

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		 2024
£
6,518
3,093
2,372
11,983		 2023
£
7,979
3,055
3,928
14,962

23

CREATIVE YOUTH

NOTES TO THE FINANCIAL STATEMENTS – 31 MARCH 2024

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 Apr
2023
£
28,433
30,600
59,033
-
674,507
674,507
733,540		 Incoming
Resources
£
489,008
6,000
495,008
141,145
30,131
171,276
666,284		 Outgoing
Resources
£
(515,798)
(4,200)
(519,998)
(141,145)
(86,195)
(227,340)
(747,338)		 At 31 Mar
2024
£
1,643
32,400
34,043
-
618,443
618,443
652,486

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 year relates to further website work. The balance will reduce as the website is depreciated.

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

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 year 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 year-end (2023: £nil).

R O’Dowd, a trustee, is a director of the Kingston Theatre Trust (KTT) which operates the Rose Theatre, a venue used for the FUSE festival. R O’Dowd is also a director of the Kingston Chamber of Commerce and vice-chair of Kingston First. P Mayhew-Smith, a trustee, is the principal of Kingston College, a key partner with the charity, and is a director of Kingston First. J Piper, a trustee, is associate professor of dance at Kingston University, a key partner. G Miles, a trustee, is co-chair of Kingston First. R Hutchinson, a trustee, is a director 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 year.

24

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NOTES TO THE FINANCIAL STATEMENTS – 31 MARCH 2024

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 year amounted to £387 (2023: £693). The amounts owed at the year-end were £5,000 (2023: £5,000). 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.

25