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← Creative Youth

2025-03-31-accounts

CREATIVE YOUTH

(A company limited by guarantee)

REPORT AND FINANCIAL STATEMENTS

YEAR ENDED 31 MARCH 2025

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 - 24 Notes to the Financial Statements

1

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 – resigned 21 May 2025 A Stevenson P Mayhew-Smith R O’Dowd M Bryher J Piper M M Hanson-Akins G Miles M Cadie Hunte A Brember V A Mather J C Shave 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 2025

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 2025.

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 14 members (2024: 15), 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.

2

CREATIVE YOUTH

TRUSTEES’ ANNUAL REPORT FOR THE YEAR ENDED 31 MARCH 2025 (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. In line with these objectives, the charity’s mission and programmes have evolved to reflect new ways of working as outlined in its 2025-2028 Business Plan.

The principal activities of the charity during this year, and going forward, were that of running projects alongside the provision of an annual festival for charitable purposes and the management of FUSEBOX, our new unique venue, 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 for young people aged 5-30 years. We exist to break down barriers for young artists, providing the space, programmes and opportunities they need to grow, create and lead in the arts – locally and internationally.

Our flagship space, FUSEBOX, is the engine that drives everything we do. It is where ideas are sparked, connections are built, and young people are empowered to turn creative potential into sustainable careers. Through FUSEBOX we deliver innovative and impactful programmes that nurture artistic growth, wellbeing and professional development.

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CREATIVE YOUTH

TRUSTEES’ ANNUAL REPORT FOR THE YEAR ENDED 31 MARCH 2025 (continued)

OBJECTIVES AND ACTIVITIES (continued)

Mission (continued)

Creative Youth’s work is structured around three interconnected Programme Streams:-

We are a youth-led organisation, embedding youth leadership in our governance, programmes and decision-making. Our Young Creatives panel contributes directly to strategy and project design, ensuring that our work reflects the voices and aspirations of the next generation. As such, a core focus of our work is supporting those aged 16-30 years.

Creative Youth is deeply rooted in South West London but works with partners worldwide. Collaboration is central to how we achieve impact – through partnerships with arts organisations, educational institutions, and corporate supporters, we create pathways for young people to thrive.

We believe in the transformative power of the arts. We are committed to ensuring that all young people, regardless of background, have the opportunity to engage with creativity. By providing a welcoming and supportive environment where young people can explore ideas and take creative risks, we help them build confidence, develop skills and form lifelong connections with the arts.

Through our work we:-

ACHIEVEMENTS AND PERFORMANCE

Introduction & Strategic Review

This period saw Creative Youth build on the success of launching FUSEBOX in the previous financial year, whilst continuing to deliver our flagship FUSE International festival and Creative Talent Programme. This year also marked a transition from our previous strategic framework based on five Strands of Work, to a new three-stream programme model.

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CREATIVE YOUTH

TRUSTEES’ ANNUAL REPORT FOR THE YEAR ENDED 31 MARCH 2025 (continued)

ACHIEVEMENTS AND PERFORMANCE (continued)

Introduction & Strategic Review (continued)

Under Co-Directors Archie O’Neill and Daniel Cartlidge, who recently completed their second year in post, the charity undertook a year-long organisational review and staff restructure, culminating in a new Business Plan for 2025–2028, supported by Arts Fundraising & Philanthropy Fundraising Culture Change Programme.

The Business Plan established a framework for impact and sustainability. Our work is now structured around:-

FUSEBOX

Since opening in July 2023, FUSEBOX has become a hub for artistic, community and partnership activities, recognised with the Most Innovative Arts/Community Project award at the 2024 Time & Leisure Food and Culture Awards. A new Seasonal Programme model increased earned income and showcased artists across dance, comedy, music, cabaret and visual arts. The Visual Arts & Heritage project at FUSEBOX, funded by the Foyle Foundation, was completed, with an additional Arts Council England (ACE) grant expanding opportunities for emerging visual artists. Collaborations with Kingston University, Kingston College and Kingston First enhanced activities for public benefit.

The Incubator stream strengthened community involvement through Mindful Art Sessions, the inaugural Community Residence Programme with WOM Collective, and the selection of Kingston International Film Festival (KIFF) as the second community resident. Collaborations with local schools further engaged children through creative workshops and exhibitions.

Operationally, the staff restructure consolidating senior leadership and management roles. Ongoing discussions with venue landlords addressed lift access and anti-social behaviour, to ensure safe and inclusive access. FUSEBOX maintained strong financial performance and growth across multiple income streams.

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CREATIVE YOUTH

TRUSTEES’ ANNUAL REPORT FOR THE YEAR ENDED 31 MARCH 2025 (continued)

ACHIEVEMENTS AND PERFORMANCE (continued)

FUSEBOX (continued)

Key Achievements:-

FUSE International

FUSE International 2024 remained our key Platform for emerging artists from the UK and internationally, presenting theatre, dance, music and visual arts across Kingston venues including the Rose Theatre, Arthur Cotterell Theatre (ACT) at Kingston College, and FUSEBOX. The festival showcased local and international companies from 12 countries, with continued emphasis on artistic quality and cultural exchange.

A highlight was RIVERFEST, funded by Kingston First and supported by local businesses, which animated the riverside with activity, attracted over 3,000 visitors and enhanced FUSEBOX’s profile as a creative hub. We also welcomed our President, HRH The Duke of Edinburgh to Thames Music Theatre’s production of The Roman Invasion of Ramsbottom. The visit and future collaboration from The Siheung City Youth Foundation (Republic of Korea) introduced a new international partnership to the festival.

Despite financial pressures from rising production costs and declining funding, the festival upheld creative ambition while streamlining delivery for long-term sustainability. This meant the charity reduced the scale of the festival while maintaining international exchange, artistic quality and a growth in FUSEBOX’s festival presence. Post-festival evaluation informed a more efficient, curated programme model for future editions.

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CREATIVE YOUTH

TRUSTEES’ ANNUAL REPORT FOR THE YEAR ENDED 31 MARCH 2025 (continued)

ACHIEVEMENTS AND PERFORMANCE (continued)

FUSE International (continued)

Key Achievements:-

Creative Talent Programme (CTP)

The Creative Talent Programme continued to provide professional development, mentorship and opportunities for emerging artists. During the year, Oscar Rodriguez and Joshua Hester (Jozoway) completed their programme with final showcases under the previous ACE grant. In December 2024, a further ACE grant was secured for the FUSEBOX Emerging Visual Artists project, integrating CTP into the Open Call Exhibitions for artists aged 16-30 years.

The Young Creatives panel evolved, with 16 members completing the 2023–2025 cohort and 8 new arts leaders recruited, enabling deeper involvement in creative activities, organisational strategy, and youth leadership.

CTP is now under strategic review, aligning with the 2025-2028 Business Plan. We have begun integrating the Skills Development Programme (SDP) to enhance young peoples’ employability and industry readiness, and exploring new artistic initiatives that can contribute to its long-term impact. A redesigned programme is planned for relaunch in 2027.

Key Achievements:-

AMP Kingston

The AMP Kingston project, funded by the National Lottery Heritage Fund, concluded in June 2024. Building on the legacy of Kingston RPM (2017), the project celebrated the borough’s rich Art, Music and Pop fashion heritage from the 1960s-1990s.

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CREATIVE YOUTH

TRUSTEES’ ANNUAL REPORT FOR THE YEAR ENDED 31 MARCH 2025 (continued)

ACHIEVEMENTS AND PERFORMANCE (continued)

AMP Kingston (continued)

Through exhibitions, creative commissions, and a borough-wide Heritage Trail, AMP Kingston explored stories of local venues, artists and communities that shaped British music heritage. Highlights included the Bowie and Beyond exhibition at Kingston Museum and the co-created community UPCYCLE showcase. Participants developed skills in curation, research and production, with several progressing into paid creative roles. The project’s digital archive, podcast, and educational toolkit provide a permanent resource for schools and the community.

Key Achievements:-

Funding and Support

During the year, our key partners and funders included Arts Council England (ACE), Arts Fundraising & Philanthropy, Canadian & Portland – Riverside Walk, E B M Charitable Trust, Greater London Authority, Kingston College, Kingston First, Kingston University, Linbury Trust, London Borough of Richmond upon Thames, National Lottery Community Fund, National Lottery Heritage Fund, Royal Borough of Kingston upon Thames (RBK), Siheung City Youth Foundation, Arts Society Kingston and The Foyle Foundation. We are particularly grateful for multiyear grant funding from the Jectus Charitable Foundation, to support the continued delivery of creative activity at FUSEBOX.

The charity also thanks the 161 supporters who contributed to our Help Creative Youth Keep the Arts Alive Crowdfunder campaign during this period, raising over £15,000 in donations to support our mission.

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CREATIVE YOUTH

TRUSTEES’ ANNUAL REPORT FOR THE YEAR ENDED 31 MARCH 2025 (continued)

ACHIEVEMENTS AND PERFORMANCE (continued)

Funding and Support (continued)

We are grateful for the ongoing encouragement and support of all our partners and funders. Other partner organisations, and financial and in-kind funders, included:-

Future Plans

Creative Youth will consolidate recent achievements and deliver against the Business Plan for 2025– 2028. Our work on the Fundraising Culture Change Programme will continue through a comprehensive fundraising strategy review.

FUSEBOX remains central, with ambitions for an expanded Seasonal Programme, increased earned income and new community partnerships. Although two major floods in June 2025 forced temporary closure, the venue is expected to reopen in January 2026, supported by Business Interruption cover to stabilise our finances.

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CREATIVE YOUTH

TRUSTEES’ ANNUAL REPORT FOR THE YEAR ENDED 31 MARCH 2025 (continued)

ACHIEVEMENTS AND PERFORMANCE (continued)

Future Plans (continued)

FUSE International 2025 adopted a curated format to balance artistic ambition, global exchange and cost efficiency. A three-year Memorandum of Understanding with the Siheung City Youth Foundation will deepen international collaboration.

CTP is under active redevelopment, led by eight Young Creatives, with pilot initiatives testing new approaches ahead of a full relaunch in 2027.

FINANCIAL REVIEW AND GOING CONCERN

The results for the year are set out in the annexed Statement of Financial Activities. Total incoming resources have reduced from £666,284 to £534,496, principally due to the lack of funding income for projects and other financial support.

However, trading income from our new venue space, FUSEBOX, is steadily increasing (this year by 65%), but it is recognised that it will take some time to promote awareness of the venue and its subsequent use and hire.

The challenges facing our organisation are largely sector-wide concerns. These challenges 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. Two large applications, where indications of success were high, were however not successful. 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 in FUSEBOX. This decision was based on anticipated return on investment, including new earned income opportunities and increased visibility with both existing and new funding as well as in-kind partners.

For the 2024-25 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 the economic environment and there is a significant area of financial uncertainty which the trustees and team are trying to mitigate. The finance sub-committee 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 and Kingston University to secure ongoing financial support where necessary. The charity is awaiting results of bid applications and 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.

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CREATIVE YOUTH

TRUSTEES’ ANNUAL REPORT FOR THE YEAR ENDED 31 MARCH 2025 (continued)

FINANCIAL REVIEW AND GOING CONCERN (continued)

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 (2024: £5,000) and repayment has been deferred until at least 31 January 2027 unless financial circumstances permit earlier repayment. In September 2024 further loans totalling £12,000 were arranged with repayment due in April 2026.

In June 2020 the charity arranged a loan under the Government’s Bounce Back Loan Scheme. The balance as at 31 March 2025 was £5,465 (2024: £6,983). The charity took advantage of a 6-month repayment break and paid only interest for 6 months of the current year. The loan will be repaid by December 2026.

After the year end a staff review and restructure took place so as to be more efficient, our business plan for the next 3 years was formulated, which include growing our audience and increasing the usage and hiring of the new venue space, FUSEBOX.

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

In June 2025 our premises, FUSEBOX, suffered a significant flood and the premises are not expected to re-open until January 2026. Insurance claims have been submitted by the charity, the landlord and the head landlord. Reliance is being placed on the insurance and other claims pending.

The trustees consider the state of affairs of the charity as at 31 March 2025 to be fiscally challenging.

By taking these actions the trustees believe, while material uncertainty exists which may cause some doubt, 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

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 2025 were negative £33,131 (2024: positive £34,043) but after making allowances for those resources designated for fixed assets that are not realisable, the free reserves of the charity were negative £69,331 (2024: positive £1,643). It is our intention to restore the reserves to a positive balance before starting to re-build our free reserves to cover at least three months’ running costs.

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CREATIVE YOUTH

TRUSTEES’ ANNUAL REPORT FOR THE YEAR ENDED 31 MARCH 2025 (continued)

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: 12 November 2025

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 2025 which are set out on pages 14 to 24.

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 2025

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CREATIVE YOUTH

STATEMENT OF FINANCIAL ACTIVITIES

INCLUDING INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 31 MARCH 2025

Note
INCOME
Income from generated activities:
Donations and financial support
3
Activities for generating funds:
Fundraising events income
Income from charitable activities:
FUSEBOX income
4
Festival income
4
Projects and commissions income
4
TOTAL INCOME
EXPENDITURE
Costs of generating funds:
Fundraising events costs
Fundraising costs of grants and donations
Costs of charitable activities:
FUSEBOX costs
5
Festival costs
5
Projects and commissions costs
5
Support costs
5
Loan interest and finance costs
TOTAL EXPENDITURE
NET (EXPENDITURE)
Reconciliation of Funds:
Total Funds brought forward
Transfers between funds
Total Funds carried forward
13		 Year ended 31 Mar 2025
Restricted
Unrestricted
Total
£
£
£
-
87,347
87,347
-
15,109
15,109
1,717
189,582
191,299
-
211,530
211,530
29,182
29
29,211
30,899
503,597
534,496
-
2,493
2,493
-
12,375
12,375
86,680
162,427
249,107
-
264,762
264,762
24,704
-
24,704
4,478
125,190
129,668
-
1,657
1,657
115,862
568,904
684,766
(84,963)
(65,307)
(150,270)
618,443
34,043
652,486
1,867
(1,867)
-
535,347
(33,131)
502,216		 Year ended 31 Mar 2025
Restricted
Unrestricted
Total
£
£
£
-
87,347
87,347
-
15,109
15,109
1,717
189,582
191,299
-
211,530
211,530
29,182
29
29,211
30,899
503,597
534,496
-
2,493
2,493
-
12,375
12,375
86,680
162,427
249,107
-
264,762
264,762
24,704
-
24,704
4,478
125,190
129,668
-
1,657
1,657
115,862
568,904
684,766
(84,963)
(65,307)
(150,270)
618,443
34,043
652,486
1,867
(1,867)
-
535,347
(33,131)
502,216		 Year ended
31 Mar
2024
Restricted
£
-
-
1,717
-
29,182
30,899
-
-
86,680
-
24,704
4,478
-
115,862
(84,963)
618,443
1,867
535,347		 Unrestricted
£
87,347
15,109
189,582
211,530
29
503,597
2,493
12,375
162,427
264,762
-
125,190
1,657
568,904
(65,307)
34,043
(1,867)
(33,131)		 Total
£
40,612
49,112
177,398
219,582
179,580
666,284
16,552
9,578
212,176
235,632
133,713
139,300
387
747,338
(81,054)
733,540
-
652,486

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 2025

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 (LIABILITIES) / 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 2025
£
£
563,548
276
23,854
2,266
26,396
(68,356)
(41,960)
521,588
(19,372)
502,216
(69,331)
36,200
(33,131)
535,347
502,216		 31 March 2024 31 March 2024
£
276
23,854
2,266		 £
606
72,742
16,695		 £
650,844

7,107
26,396
(68,356)		 90,043
(82,936)
657,951
(5,465)
652,486
1,643
32,400
34,043
618,443
652,486

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 12 November 2025

The attached notes form part of these financial statements.

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CREATIVE YOUTH

NOTES TO THE FINANCIAL STATEMENTS – 31 MARCH 2025

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; a staff restructure to be more efficient; aiming to grow our audience and the market for hiring our new space. The charity is awaiting significant sums from insurers and from other claims in respect of the major flood in our FUSEBOX venue in June 2025, which are not recognised in these accounts as it is a post-balance sheet event.

These uncertainties cause some concern in respect of going concern. A forecast has been prepared covering a period of at least 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; relies on forecast income from the new venue, FUSEBOX; and relies on successful insurance and other claims in respect of the flood. 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 2025

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 relating to Support Costs are included as Donations and Financial Support in Note 3 to the financial statements. Donated services and facilities relating to Festival Costs have this year been included as Donated Services and Facilites in Note 4 to the financial statements. The directors consider the new policy to better reflect charitable income (Note 4) compared to charitable expenditure (Note 5). The change has been applied retrospectively and comparative information has been restated.

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:

17

CREATIVE YOUTH

NOTES TO THE FINANCIAL STATEMENTS – 31 MARCH 2025

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
Loan interest and finance costs
Net (outgoing) resources
Total funds brought forward
Total funds carried forward
Represented by:
Unrestricted income funds
Unrestricted capital funds
Restricted funds		 Year ended
31 Mar 2025
£
534,496
(668,241)
(2,493)
(12,375)
(1,657)
(150,270)
652,486
502,216
(69,331)
36,200
535,347
502,216		 Year ended
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

CREATIVE YOUTH

NOTES TO THE FINANCIAL STATEMENTS – 31 MARCH 2025

3 DONATIONS AND FINANCIAL SUPPORT

Donations
Donated services and facilities – valuation
Friends’ memberships		 Year ended
31 Mar 2025
£
68,316
19,031
-
87,347		 Year ended
31 Mar 2024
£
21,431
19,110
71
40,612

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 (2024: £14,025) and to Microsoft for software licences valued at £5,006 (2024: £5,085). The income equivalent has been recognised within incoming resources as donated services and an equivalent charge included within support costs.

4 INCOME FROM CHARITABLE ACTIVITIES

FUSEBOX income:
Sponsors, local authorities and grants
Venue hire, bar and commission income
Capital grant to refurbish space
Capital grant for equipment
Festival income:
Sponsors, local authorities and grants
Donated services and facilities
Box office sales and other income
Projects and commissions income:
Sponsors, local authorities and grants
Grants used to purchase fixed assets
Box office sales		 Year ended 31 Mar
2025
£
£
126,325
55,257
181,582
1,717
8,000
191,299
38,106
132,914
40,510
211,530
29,182
-
29
29,211
432,040		 Year ended 31 Mar
2024		 Year ended 31 Mar
2024
£
126,325
55,257		 £
114,764
33,475		 £
177,398
219,582
179,580
181,582
1,717
8,000		 148,239
29,159
-
38,106
132,914
40,510		 42,094
132,914
44,574
29,182
-
29		 172,145
6,972
463
576,560

19

CREATIVE YOUTH

NOTES TO THE FINANCIAL STATEMENTS – 31 MARCH 2025

4 INCOME FROM CHARITABLE ACTIVITIES (continued)

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, Kingston College, Linbury Trust, EBM and Arts Society Kingston for their financial support.

The charity is 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 (2024: £132,914). The income equivalent has been recognised within incoming resources as festival income and an equivalent charge included within festival costs.

5 ANALYSIS OF CHARITABLE EXPENDITURE

ANALYSIS OF CHARITABLE EXPENDITURE
FUSEBOX costs:
FUSEBOX costs
Depreciation
Festival costs:
Festival costs
Donated facilities – rent of venues
Projects and commissions costs
Support costs:
Administration expenses
Depreciation
Donated services and facilities
STAFF COSTS
Staff costs were as follows:
Staff salaries
Employers pension costs
Employers National Insurance costs		 Year ended 31 Mar
2025
£
£
162,427
86,680
249,107
131,848
132,914
264,762
24,704
106,437
4,200
19,031
129,668
668,241
Year ended
31 Mar 2025
£
160,335
4,116
9,593
174,044		 Year ended 31 Mar
2024
£
162,427
86,680		 £
125,981
86,195		 £
212,176
235,632
133,713
139,300
131,848
132,914		 102,718
132,914
106,437
4,200
19,031		 115,990
4,200
19,110
720,821

6 STAFF COSTS

20

CREATIVE YOUTH

NOTES TO THE FINANCIAL STATEMENTS – 31 MARCH 2025

6 STAFF COSTS (continued)

During the year ended 31 March 2025 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 7 (2024: 4).

We previously reported that staff costs were £33,614 for the year ended 31 March 2024, with the average number of employees as 2. This was incorrect and only represented the administration staff. The comparative has been restated.

7 TAXATION

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

8 TANGIBLE & INTANGIBLE FIXED ASSETS

COST
At 31 March 2024
Additions in the year
At 31 March 2025
DEPRECIATION
At 31 March 2024
Charge for the year
At 31 March 2025
NET BOOK VALUE
At 31 March 2025
At 31 March 2024		 Equipment
£

84,215
-
84,215
44,795
9,855
54,650
29,565
39,420		 Website
£
42,000
-
42,000
9,600
4,200
13,800
28,200
32,400		 Leasehold
Property
Improvements
£

667,981
3,584
671,565
88,957
76,825
165,782
505,783
579,024		 Total
£
794,196
3,584
797,780
143,352
90,880
234,232
563,548
650,844

Loan notes issued totalling £5,000 (2024: £5,000) are secured on the equipment.

9 DEBTORS

DEBTORS
Trade debtors
Accrued income
Prepayments
Deposit with landlord – refundable		 2025
£
231
7,482
14,141
2,000
23,854		 2024
£
6,273
40,329
24,140
2,000
72,742

21

CREATIVE YOUTH

NOTES TO THE FINANCIAL STATEMENTS – 31 MARCH 2025

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)		 2025
£
16,988
3,995
24,028
19,658
594
65,263
3,093
68,356		 2024
£
8,438
9,018
50,098
7,537
1,327
76,418
6,518
82,936

11 DEFERRED INCOME

DEFERRED INCOME
Balance b/f
Released to income
Amount deferred in year
Balance c/f		 2025
£
50,098
(43,498)

17,428
24,028		 2024
£
115,848
(114,131)
48,381
50,098

During the year the charity received monies from 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
Loan notes		 2025
£
3,093
-
3,093
2,372
17,000
19,372		 2024
£
1,518
5,000
6,518
5,465
-
5,465

The Bounce Back bank loan which totals £5,465 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 took advantage of a 6- month repayment break and paid only the interest amount for those 6 months. The normal repayments then re-started and therefore the loan will be repaid by December 2026.

22

CREATIVE YOUTH

NOTES TO THE FINANCIAL STATEMENTS – 31 MARCH 2025

12 LOANS AND OVERDRAFTS (continued)

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		 2025
£
3,093
19,372
-
22,465		 2024
£
6,518
3,093
2,372
11,983

13 STATEMENT OF FUNDS

Unrestricted funds:-
General unrestricted funds
Designated website capital
fund
Designated equipment
capital fund
Restricted funds:-
General restricted funds
FUSEBOX capital fund
Total funds		 At 1 Apr
2024
£
1,643

32,400
-
34,043
-
618,443
618,443
652,486		 Incoming
Resources
£
495,597
-
8,000
503,597
29,182
1,717
30,899
534,496		 Transfers
£
(1,867)
-
-
(1,867)
-
1,867
1,867
-		 Outgoing
Resources
£
(564,704)
(4,200)
-
(568,904)
(29,182)
(86,680)
(115,862)
(684,766)		 At 31 Mar
2025
£
(69,331)
28,200
8,000
(33,131)
-
535,347
535,347
502,216

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

Unrestricted designated website fund – Represents grants to cover the cost of the new website that went live in October 2021. The balance will reduce as the website is depreciated.

Unrestricted designated equipment fund – Represents grants to cover the cost of new equipment to be purchased for FUSEBOX.

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.

23

CREATIVE YOUTH

NOTES TO THE FINANCIAL STATEMENTS – 31 MARCH 2025

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 (2024: £nil).

R O’Dowd, a trustee, is a director of the Kingston Theatre Trust (KTT) & Rose Theatre Enterprises Ltd which operates the Rose Theatre, a venue used for the FUSE International festival. R O’Dowd is also the vice-chair of Kingston First, a key partner. P Mayhew-Smith, a trustee, is the principal of South Thames Colleges Group, a key partner with the charity, and is a director of Kingston First. 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.

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. This rate has now been amended to Bank Base rate. Interest for the year amounted to £247 (2024: £171), however the lenders agreed to waive the interest due and treat it as an effective donation. The amounts owed at the year-end were £5,000 (2024: £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 January 2027 or unless financial circumstances permit earlier repayment.

New loans totalling £12,000 were made to the charity in August 2024 by trustees and officers of the charity. Interest is payable at the bank base rate Interest paid during the year amounted to £343, however the lenders agreed to waive the interest due and treat it as an effective donation. The amounts owed at the year-end were £12,000. The loan notes were repayable on demand on 1 April 2025, however owners of these loan notes have agreed not to seek repayment until April 2026 or unless financial circumstances permit earlier repayment.

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.

24