**Charity registration number 1137635** **Company registration number 07223732 (England and Wales)** ## **YOUNG VOICES FOUNDATION** # **ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025** ## **YOUNG VOICES FOUNDATION** ## **CONTENTS** ||**Page**| |---|---| |Trustees report|1 - 4| |Independent examiner's report|5| |Statement of financial activities|6| |Balance sheet|7| |Notes to the financial statements|8 - 11| ## **YOUNG VOICES FOUNDATION** ## **TRUSTEES REPORT (INCLUDING DIRECTOR'S REPORT)** _**FOR THE YEAR ENDED 31 MARCH 2025**_ The trustees present their annual report and financial statements for the year ended 31 March 2025. The financial statements comply with the Charities Act 2011, the Companies Act 2006, the Memorandum and Articles of Association, and Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019). ## **Objectives and activities** ## **Principal objects of the charity** Through music and singing the young voices foundation helps children and young people by: - Giving grants to increase opportunities and experiences - Developing and delivering music and singing projects - Delivering projects that support the professional development of leaders and teachers - Raising funds to support the above work ## **Public benefit** We have referred to the guidance contained in the Charity Commission’s general guidance on public benefit when reviewing our objectives and in planning our future activities. In particular, the trustees consider how planned activities will contribute to the objectives they have set ## **Achievements and performance** During the year to 31 March 2025, the Foundation continued to grow in reach and impact. Key achievements included: ## **Grants** Grants were made to enable more parents to attend the concerts with their children, by enabling complimentary parents’ tickets, to enable children from less privileged families to get a free Young Voices t-shirt and/or for the school to access funds towards the cost of coach travel to and from the venues. DVDs of the concert were also made accessible to families at grant funded and sponsored schools. Through agreement with the Young Voices Company, the profit made in the delivery of Teacher workshops, enabled the charity, via the Company, to make grants amounting to £33,934 to 12 schools across England. In addition, a further 10 schools benefited from sponsorship arrangements made by our commercial company, who received tickets for parents, complimentary t-shirts for pupils and free transport. Overall, this enabled 516 Children and 485 Parents to attend a Young Voices concert, regardless of their financial circumstances. ## **Teacher Music Workshops** The Foundation delivered 7 train the trainer music workshops across the country to enable teachers to attend to learn the music and performance skills, to pass onto their pupils and choirs. A total of 1,327 teachers from 1,022 schools attended. - 1 - ## **YOUNG VOICES FOUNDATION** ## **TRUSTEES REPORT (INCLUDING DIRECTOR'S REPORT) (CONTINUED)** _**FOR THE YEAR ENDED 31 MARCH 2025**_ ## **Financial review** ## **Income** Total income for the year was £42,551 (2024: £24,753) reflecting growth in grant income and individual donations. Income was transferred from Young Voice UK as net profit from the sale of Teacher workshops held during the year, less the value of grants provided to schools. ## **Expenditure** Total expenditure for the year amounted to £6,725 (2024: £7,650), apportioned as follows: - Charitable activities: £4,445 - Fundraising costs: £0 - Governance and administration: £2,280 The Foundation finished the year with a surplus of £35,826 (2024: £17,103) and reserves of £79,587 (2024: £43,761). ## **Reserves Policy** The trustees regularly review the Foundation’s reserves to ensure sufficient funds to maintain core programmes and respond to unforeseen challenges. Our policy is to hold unrestricted reserves equivalent to three months’ operating expenditure, which we met at year-end. ## **Risk Management** The trustees have carried out a thorough review of the major risks faced by the charity and implemented systems to mitigate them. Principal risks identified include: - Fluctuations in grant and donation income – addressed through diversification of funding sources and strengthening relationships with supporters. - Safeguarding and welfare of young participants – mitigated by annual training for staff/volunteers and robust safeguarding protocols. - Operational risks – including digital security and data protection – managed through regular audits and updates to IT systems. ## **Plans for the Future** Looking ahead, the Foundation aims to: - Appoint a Foundation Manager to oversee the growth of the charity. - Review our grant making strategy alongside our parent company. - Develop our messaging to be clearer about the distinction between the parent company and our Foundation. - Continue to diversify our funding base through new partnerships and innovative fundraising campaigns. ## **Structure, governance and management** The Foundation is governed by a board of trustees who meet quarterly to oversee strategic direction, policy, and performance. Trustees are appointed for three-year terms, with a maximum of three consecutive terms. Day to day support is provided by the staff at Young Voices and managed by Clare Edwards, Director of Young Voices and Trustee of Young Voices Foundation. All trustees and staff are required to adhere to the highest standards of integrity, transparency, and accountability. Continuous training is provided to ensure compliance with legal, ethical, and best-practice standards, particularly around safeguarding and inclusion. - 2 - ## **YOUNG VOICES FOUNDATION** ## **TRUSTEES REPORT (INCLUDING DIRECTOR'S REPORT) (CONTINUED)** _**FOR THE YEAR ENDED 31 MARCH 2025**_ ## **Thanks and Acknowledgements** The trustees wish to thank all staff, volunteers, partners, funders, and – most importantly – the young people we serve. Your commitment, energy, and vision have made the achievements of this year possible. We are excited about the future and determined to continue championing the voices of the next generation. - 3 - ## **YOUNG VOICES FOUNDATION** ## **TRUSTEES REPORT (INCLUDING DIRECTOR'S REPORT) (CONTINUED)** _**FOR THE YEAR ENDED 31 MARCH 2025**_ ## **Legal and Administrative Information** ## **Registered numbers** Company number - 07223732 Charity number - 1137635 ## **Trustees** Ms A D'Amore (Chair) Mr P Lewis - resigned 21/07/25 Miss J Jones Mrs B Minter Ms C Edwards Mr D Majoney - appointed 24/07/25 Mr N Idrees - appointed 21/07/25 Ms G Meadows - appointed 21/07/25 ## **Company Secretary** Ms C Edwards ## **Registered office** Grove Mews 1 Coronation Road Birchgrove Cardiff CF14 4QY ## **Bankers** NatWest Bank 21 High Street Llandaff Cardiff CF5 2YT The trustees report was approved by the Board of Trustees. .............................. Ms C Edwards **Secretary** Date: ............................................. - 4 - ## **YOUNG VOICES FOUNDATION** ## **INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF YOUNG VOICES FOUNDATION** I report to the trustees on my examination of the financial statements of Young Voices Foundation (the charity) for the year ended 31 March 2025. ## **Responsibilities and basis of report** As the trustees of the charity (and also its directors for the purposes of company law) you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006 (the 2006 Act). Having satisfied myself that the financial statements of the charity are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of the charity’s financial statements carried out under section 145 of the Charities Act 2011 (the 2011 Act). In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act. ## **Independent examiner's statement** I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect: - 1 accounting records were not kept in respect of the charity as required by section 386 of the 2006 Act; or - 2 the financial statements do not accord with those records; or - 3 the financial statements do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination; or - 4 the financial statements have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102). I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the financial statements to be reached. Andrew Howells ## **Azets Audit Services** Ty Derw Lime Tree Court Cardiff Gate Business Park Cardiff South Glamorgan CF23 8AB United Kingdom Dated: ......................... - 5 - ## **YOUNG VOICES FOUNDATION** ## **STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT** ## _**FOR THE YEAR ENDED 31 MARCH 2025**_ |||**Unrestricted **|**Unrestricted**| |---|---|---|---| |||**funds**|**funds**| |||**2025**|**2024**| ||**Notes**|**£**|**£**| |**Income from:**|||| |Donations and legacies|**4**|42,551|24,753| |**Expenditure on:**|**3**||| |Charitable activities|**5**|6,725|7,650| |**Net income for the year/**|||| |**Net movement in funds**||35,826|17,103| |Fund balances at 1 April 2024||43,761|26,658| |**Fund balances at 31 March 2025**||79,587|43,761| The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities. The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006. - 6 - ## **YOUNG VOICES FOUNDATION** ## **BALANCE SHEET** ## _**AS AT 31 MARCH 2025**_ |**Notes**
**Current assets**
Debtors
**10**
Cash at bank and in hand
**Creditors: amounts falling due within**
**one year**
**11**
Net current assets
**Income funds**
Unrestricted funds|**2025**
**£**
41,071
40,616
81,687
(2,100)|**£**
79,587
79,587
79,587|**2024**
**£**
24,437
19,924
44,361
(600)|**£**
43,761| |---|---|---|---|---| |||||43,761| |||||43,761| The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 31 March 2025. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements. The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476. These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime. The financial statements were approved by the Trustees on ......................... .............................. Ms C Edwards **Secretary** ## **Company registration number 07223732** - 7 - ## **YOUNG VOICES FOUNDATION** ## **NOTES TO THE FINANCIAL STATEMENTS** _**FOR THE YEAR ENDED 31 MARCH 2025**_ ## **1 Accounting policies** ## **Charity information** Young Voices Foundation is a private company limited by guarantee incorporated in England and Wales. The registered office is Grove Mews, 1 Coronation Road, Birchgrove, Cardiff, CF14 4QY, United Kingdom. ## **1.1 Accounting convention** The financial statements have been prepared in accordance with the charity's governing document, the Companies Act 2006 and "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)". The charity is a Public Benefit Entity as defined by FRS 102. The charity has taken advantage of the provisions in the SORP for charities applying FRS 102 Update Bulletin 1 not to prepare a Statement of Cash Flows. The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £. The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below. ## **1.2 Going concern** At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements. ## **1.3 Charitable funds** The charity’s unrestricted funds consist of resources, which may be used at the charity’s discretion to fulfil the objects of the charity. ## **1.4 Income** All incoming resources are included in the Statement of Financial Activities when the charity is entitled to the income and the amount can be quantified with reasonable accuracy. ## **1.5 Expenditure** Resources expended are allocated to the particular activity where the cost relates directly to that activity. ## **1.6 Cash and cash equivalents** Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities. ## **1.7 Financial instruments** The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value. ## _**Basic financial assets**_ Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due. - 8 - ## **YOUNG VOICES FOUNDATION** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 MARCH 2025**_ ## **1 Accounting policies** **(Continued)** ## _**Basic financial liabilities**_ Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due. Liabilities are recognised in the Statement of Financial Activities as they become payable. ## **1.8 Taxation** No provision for Corporation Tax is required in the accounts as the organisation has obtained charitable status. ## **1.9 Employee benefits** The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received. Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits. ## **1.10 Cash flow statement** Exemption has been taken from preparing a cash flow statement on the grounds that the company qualifies as a small company. ## **1.11 Governance costs** Governance costs of the charity relate to the costs of running the charity such as the costs of meetings, audit and statutory compliance. ## **1.12 Charitable activities** This includes all costs relating to the furtherance of the charity’s objectives as stated in the Trustees’ Report. ## **2 Critical accounting estimates and judgements** In the application of the charity’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods. ## **3 Taxation** No provision for Corporation Tax is required in the accounts as the organisation has obtained charitable status. - 9 - ## **YOUNG VOICES FOUNDATION** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 MARCH 2025**_ ## **4 Donations and legacies** ||**Unrestricted **|**Unrestricted**| |---|---|---| ||**funds**|**funds**| ||**2025**|**2024**| ||**£**|**£**| |Donations and gifts|42,551|24,753| ## **5 Charitable activities** |Bank charges
IT costs
Co-ordinator fees
Share of governance costs (see note 6)
**Support costs**
**Support**
**costs**
**Governance**
**costs**
**£**
**£**
Accountancy fees
-
2,280
-
2,280
Analysed between
Charitable activities
-
2,280|**2025**
**£**
97
1,748
2,600
4,445
2,280
6,725
**2025**
**£**
2,280
2,280
2,280|**2024**
**£**
95
845
5,600| |---|---|---| |||6,540
1,110| |||7,650| |||**2024**
**£**
1,110| |||1,110| |||1,110| ## **6 Support costs** Governance costs includes payments to the independent examiners of £2,280 for independent examination fees (2024: £1,110 for accountancy fees). ## **7 Trustees** None of the trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year. - 10 - ## **YOUNG VOICES FOUNDATION** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 MARCH 2025**_ ## **8 Employees** The average monthly number of employees during the year was: ||**2025**|**2024**| |---|---|---| ||**Number**|**Number**| |Total|-|-| There were no employees whose annual remuneration was more than £60,000. ## **9 Taxation** The charity is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or section 252 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects. |**10**
**Debtors**
**Amounts falling due within one year:**
Other debtors
**11**
**Creditors: amounts falling due within one year**
Accruals and deferred income|**2025**
**£**
41,071
**2025**
**£**
2,100|**2024**
**£**
24,437| |---|---|---| |||**2024**
**£**
600| ## **12 Related party transactions** Young Voices UK Limited donated £42,551 (2024: £24,753) to the charity. Young Voices UK Limited did not re-charge the charity admin costs during the year (2024: £5,600). At the year end Young Voices UK Limited owed the charity £41,071 (2024: £24,237). - 11 -