YOUNG NORFOLK ARTS TRUST
ARTS
TRUSTEES REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MARCH 2022
CHARITY NUMBER 1162863
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**YOUNG NORFOLK ARTS TRUST**
## **CONTENTS**
||Page|
|---|---|
|**Reference and Administrative Details of the Charity, its Trustees and Advisers**|1|
|**Trustees' Report**|2 - 8|
|**Independent Examiner's Report**|9|
|**Statement of Financial Activities**|10|
|**Balance Sheet**|11|
|**Notes to the Financial Statements**|12 - 21|
**YOUNG NORFOLK ARTS TRUST**
## **REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 MARCH 2022**
|**Trustees**|Mr Steffan Griffiths,Chair|
|---|---|
||Mrs RachelQuick Butwright|
||Mr Lewis Buxton
Mrs Alanna Mound|
||Ms Nina Nannar|
||Mrs Naomi Palmer|
||Ms Vivica Parsons(resigned 15 September 2021)|
||Mr Gerard Stamp (resigned 22 June 2021)|
|**Charity registered**
**number**
1162863
**Principal office**
Norwich Arts Centre
51 St Benedicts Street
Norwich
NR2 4PG
**Trust Correspondence**
**and Director**
Lucy Farrant
c/o Norwich Arts Centre, 51 St Benedicts St, Norwich, NR2 4PG
Email: director@youngnorfolkarts.org
**Accountants**
Larking Gowen LLP
Chartered Accountants
King Street House
15 Upper King Street
Norwich
NR3 1RB||
1
## **YOUNG NORFOLK ARTS TRUST**
## **TRUSTEES’ REPORT FOR THE YEAR ENDED 31 MARCH 2022**
The Trustees present their annual report together with the financial statements of the charity for the year 1 April 2021 to 31 March 2022.
## **Objectives**
The objectives of the charity are to celebrate and support the creativity of young people in Norfolk, and to ensure that they are presented with a multitude of opportunities to explore it in ways that enrich their lives and the wider society and enhances aspirations.
The strategic aims of the charity are;
- to provide high quality and diverse multi-art form opportunities and experiences;
- to nurture creative platforms, projects and communities for all Norfolk's young people;
- to involve young people in creative activity which is inspiring and accessible, and to ensure their voice is heard at all levels;
- to enable young people to enhance their skills, confidence and well-being;
- to remain receptive and responsive to the needs and voices of young people and their communities.
The charity oversees the administration of the loose federation of cultural organisations in Norfolk known as the Young Norfolk Arts Festival Partnership.
## **Main activities undertaken to further the charity's purposes for the public benefit**
The trustees have considered the Charity Commission guidance on public benefit under the Charities Act 2006 when reviewing the charity's objectives and aims and planning its future activities for the year ahead. The Trustees consider that the Charity's aims demonstrate its public benefit.
The main activities of the charity are the;
- Young Norfolk Arts Festival; a celebration of creativity and performance by and for young people in Norfolk that happens every July, with activities and art forms as varied as classical music, filmmaking, spoken word, visual art, drama, dance and contemporary music.
- YNA Collective; engaging and providing support to young people aged 16 – 25 years old. Through regular meetings, training sessions, practical hands on workshops and collaborative sessions with our partners, the Collective develop skills to enable them to produce, promote and evaluate events and exhibitions with Young Norfolk Arts.
2
## **YOUNG NORFOLK ARTS TRUST**
## **TRUSTEES’ REPORT FOR THE YEAR ENDED 31 MARCH 2022**
Year-round activities including:
- Literary Roadshow; delivery of a workshop programme in schools across Norfolk.
- Young Norfolk Writing Competition and showcase event, including selection of a yearly young laureate for the County.
- Bespoke commissions from other organisations to provide creative programmes and advice
- Being the main delivery organisation and fund holder for the Norwich 2040 Local Cultural Education Partnership (LCEP).
## **Delivery of activity and achievements during the year**
## **Young Norfolk Arts Festival 2021**
Due to continued uncertainty about the effect of Coronavirus on gatherings and whether restrictions on indoor events and meetings would be lifted and then reimposed, we decided to offer a blended Festival in 2021. The main Festival activities took place over the long weekend of 8[th] to 12[th] July 2021, and included live performances on our Lost River stage in Chapelfield Gardens bandstand, the ReConnect, reDiscover, ReEngage exhibition in the Crypt of Norwich School curated by our Collective, a poetry garden party hosted by Toast Poetry in the gardens of Norwich Arts Centre and an in person showcase of Norfolk’s finest young writing talent at Dragon Hall. We also offered a series
of workshops in person including reimaging textiles and performative visual art. Online offers included film showcases and creative careers advice.
Our Collective created a City of Strangers audio trail and as lead delivery partner for the LCEP we devised and installed a shop window trail of plasticine figurines made by Norwich’s schoolchildren. Our Collective also hosted BBC Radio Norfolk’s social programme.
## **Audience figures**
- 3,400 participants aged 25 and
- under
● Overall audience of 6,500 plus listeners to BBC Radio Norfolk
3
## **YOUNG NORFOLK ARTS TRUST**
## **TRUSTEES’ REPORT FOR THE YEAR ENDED 31 MARCH 2022**
## **YNA Collective**
The Collective programme continued throughout 20212022. We recruited a core team of 20 young people who worked closely with us to explore their own creativity and to programme the 2021 Festival. Contact was primarily online until lockdown restrictions were lifted and we were able to meet in person to, for example, curate and install the Festival exhibition. They also created a Festival zine which documented all of the events and collated their creative responses to them. Collective activities continued post- Festival and 2021 culminated in their takeover of a pop-up exhibition space in which they displayed their own work. The Collective also worked with Norwich Science Festival in the autumn of 2021 and, reported and documented those events.
We recruited for our 2022 YNA Collective programme in January and in March that group produced and delivered the first Young Norfolk Makers Fair in partnership with Norwich Arts Centre and the Forum. .We are already working with them on a range of creative activities and workshops in preparation for YNAF 2022.
4
## **YOUNG NORFOLK ARTS TRUST**
## **TRUSTEES’ REPORT FOR THE YEAR ENDED 31 MARCH 2022**
## **Moving IT On Project - Part 2**
We have been successful in gaining more funding for this project which we will use to develop the Collective’s film making skills.
## **The Virtual School for Looked After Children**
At the beginning of 2020 we were commissioned by the Virtual School for looked after children to help to recruit and then to run a Collective type group of their young people with a view to them being able to plan and document the Virtual School’s celebration event in July. Plans had to change due to COVID 19 in 2021 but that project is now back on course and we will deliver creative workshops at the celebration event in July 2022
## **Norwich 2040 Local Cultural Education Partnership (LCEP)**
In February 2020 the LCEP was reinvigorated and YNAT became very actively involved in its regeneration. The Director of YNAT became its Co- Chair together with Cllr Alan Waters, and she regularly represents the LCEP at regional and national level. In March 2021 YNAT took responsibility for management of the LCEP’s funds and
became its main delivery organisation. In partnership with a key education member of the LCEP we developed the Figurine It Out project which empowered Norwich school children to express their feelings on returning to school by moulding plasticine figurines which held flags with descriptions of how they felt. By the time of YNAF 2021 3,100 figurines had been created and were displayed across Norwich. The project will continue in partnership with other regional LCEPs.
5
## **YOUNG NORFOLK ARTS TRUST**
## **TRUSTEES’ REPORT FOR THE YEAR ENDED 31 MARCH 2022**
## **Norwich 2040 Vision**
The YNAT Director in her capacity as Co- Chair of the LCEP sits on Norwich City’s 2040 Vision group. The group meets bi -monthly and plans the City’s post COVID strategies and activities. The Director is part of a small steering subgroup whose mission is to include youth voice within the Vision group. The Director is also a member of the City’s Creative City Compact group.
## **>Engage Works**
This is a programme run by YNAT in partnership with the LCEP. Its aim is to provide relevant and practical opportunities for young people to engage with the creative industries locally and to explore the idea of careers in the cultural sector. A series of online creative careers sessions were available online during YNAF 2021 and it is a clear part of the Trust’s mission to deliver an in person event in the autumn of 2022.
## **Plans for the future**
The past year has been challenging but we are confident that our size, structure and strong partnerships enabled us to adapt to its difficulties, and those qualities will stand us in good stead for 2022-2023. We were very grateful for the support from the Culture Recovery Fund (CRF) which played a vital role in enabling us to continue our core activities – especially our weekly Collective workshops and meetings. We are already enjoying working closely with the new Collective and look forward to co -creating YNAF 2022 and what follows with them.
We are examining the environmental impact of our activities and with the support of the Chamber of Commerce we aim to ensure that YNAF 2022 is sustainable and achieves a net zero output.
Norwich and Norfolk have a deeply cultural heritage and we are pleased to be a part of their wider creative ecology. We look forward to delivering programmes and opportunities in the Levelling up for Culture places and to working closely with our partners in those areas to achieve change. We will continue our deep involvement with the LCEP and will work in partnership with it to deliver and disseminate opportunities for cultural education. Our postcard Poems project is well underway, and we look forward to seeing its results displayed throughout the City and to supporting its ongoing development into areas of music and visual arts.
Delivery will continue to include digital options in order to ameliorate accessibility issues such as the county’s geography, and to encourage harder to reach groups to work with us such as the D/deaf community as well as to lessen environmental impacts from our activities.
YNAT has applied to become part of Arts Council England’s National Portfolio in 2023. In the meantime, the Director will continue the pursuit of varied funding streams.
6
## **YOUNG NORFOLK ARTS TRUST**
## **TRUSTEES’ REPORT FOR THE YEAR ENDED 31 MARCH 2022**
## **Financial review of the year**
The charity reported a net surplus of £15,128 for the year to 31 March 2022 (2021: £30,552). This surplus comprised a net movement on restricted funds, with the movement on unrestricted funds being £nil (2021: £nil).
The restricted fund surplus for the year to 31 March 2022 relates mainly to an Arts Council England (ACE) project grant for activity from September 2021 to July 2023, where the first instalment of £49,000 was received during the year, and has funded activity in this financial year, but which will also fund activity after 31 March 2022, including the delivery of the 2022 festival in July. Other grant funding received during 2021-22 especially those to support our work during the Covid pandemic have been spent during this period. We were pleased to receive support from the Culture Recovery Fund, The Foyle Foundation, Norfolk Community Foundation and The Norwich School. Further details on these funds is given in note 11 to the Financial Statements.
Total reserves stood at £114,431 on 31 March 2022 (2021: £99,303) of which £34,687 was held as unrestricted funds (2021: £34,687) with the balance being held as restricted funds. Restricted fund reserve levels have risen year on year from £64,616 to £79,744 due to the large project balance for the new ACE project for future activity as outlined above.
The charity raises income from a variety of sources and is heavily reliant on grant income from local and national charities and Arts Council England (ACE). The charity has been awarded £98,000 by ACE for the period September 2021 to July 2023. It has also applied to be part of Arts Council England’s National Portfolio from April 2023.
## **Going concern and reserves policy**
After making appropriate enquiries, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements.
The charity's reserves policy is only to commit to expenditure when sufficient levels of income have been received or pledged. The charity’s unrestricted fund balance of £34,687 is held mainly as cash, and represents just under three months of annual expenditure. It is needed to manage the cashflow demands of large projects, and provides funds to be able to give some time to manage the financial future of the charity in the event of any unanticipated changes to funding or activity.
As at 31 March 2022, the level of restricted reserves was £79,744 (2021: £64,616)
## **Structure, governance and management**
## **Governing document**
Young Norfolk Arts Trust is a registered charity, number 1162863, and is constituted as a Charitable Incorporated Organisation.
## **Appointment of trustees**
Trustees are appointed for a term of three years. The minimum number of trustees is three and the maximum number is eight. Trustees are appointed at a properly convened meeting of trustees and those appointed are chosen taking into account the skills, knowledge and experience needed for the effective management of the charity.
7
## **YOUNG NORFOLK ARTS TRUST**
## **TRUSTEES’ REPORT FOR THE YEAR ENDED 31 MARCH 2022**
## **Statement of Trustees' responsibilities**
The Trustees are responsible for preparing the Trustees' Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
The law applicable to charities in England & Wales requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the Trustees are required to:
- select suitable accounting policies and then apply them consistently;
- observe the methods and principles of the Charities SORP (FRS 102);
- make judgments and accounting estimates that are reasonable and prudent;
- state whether applicable UK Accounting Standards (FRS 102) have been followed, subject to any material departures disclosed and explained in the financial statements;
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business.
The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charity's transactions and disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the Trust deed. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Approved by order of the members of the board of Trustees on 22 June 2022 and signed on their behalf by:
_____________________
Steffan Griffiths Chair of Trustees
8
## **YOUNG NORFOLK ARTS TRUST**
**INDEPENDENT EXAMINER’S REPORT FOR THE YEAR ENDED 31 MARCH 2022**
## **Independent Examiner's Report to the Trustees of Young Norfolk Arts Trust ('the charity')**
I report to the charity Trustees on my examination of the accounts of the charity for the Year ended 31 March 2022.
## **Responsibilities and Basis of Report**
As the Trustees of the charity you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the 2011 Act').
I report in respect of my examination of the charity's accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
## **Independent Examiner's Statement**
Your attention is drawn to the fact that the charity has prepared the accounts in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has been withdrawn.
I understand that this has been done in order for the accounts to provide a true and fair view in accordance with the Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015.
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 130 of the 2011 Act; or
2. the accounts do not accord with those records; or
3. the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 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.
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Signed:
Dated: `7 July 2022`
J Grimmer
FCA DChA
**Larking Gowen LLP** Chartered Accountants, Norwich
9
**YOUNG NORFOLK ARTS TRUST**
## **STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2022**
|Note
**Income**
Grants and donations
3
Income from charitable activities
4
**Total income**
**Expenditure**
Expenditure on charitable activities
5
**Total expenditure**
**Net movement in funds**
**Reconciliation of funds**
Total funds brought forward
Net movement in funds
**Total funds carried forward**|**Unrestricted**
**Funds**
**Restricted**
**Funds**
**Total**
**Funds**
**Total Funds**
**2022**
**2022**
**2022**
**2021**
**£**
**£**
**£**
**£**
7,325
113,500
120,825
120,805
3,765
-
3,765
2,925|
|---|---|
||11,090
113,500
124,590
123,730|
||11,090
98,372
109,462
93,178|
||11,090
98,372
109,462
93,178|
|||
||-
15,128
15,128
30,552|
||34,687
64,616
99,303
68,751
-
15,128
15,128
30,552|
||34,687
79,744
114,431
99,303|
The statement of financial activities includes all gains and losses for the period from 1 April 2021 to 31 March 2022. All income and expenditure derive from continuing activities.
The notes on pages 12 to 21 form part of these financial statements.
10
**YOUNG NORFOLK ARTS TRUST**
## **BALANCE SHEET AS AT 31 MARCH 2022**
|Note
**Current assets**
Debtors
9
Cash at bank
**Liabilities**
Creditors falling due within one year
10
**Net current assets**
**Total net assets**
**Funds**
Unrestricted funds
11
Restricted funds
11
**Total funds**|**2022**
**2021**
**£**
**£**
3,606
290
112,711
100,171|
|---|---|
||116,317
100,461
(1,886)
(1,158)|
||114,431
99,303|
|||
||114,431
99,303|
||34,687
34,687
79,744
64,616|
||114,431
99,303|
The notes on pages 12 to 21 form part of these financial statements.
The financial statements were approved by the Board of Trustees on 22 June 2022, and were signed on its behalf by:
___________________________ Steffan Griffiths Chair of Trustees
11
## **YOUNG NORFOLK ARTS TRUST**
**NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022**
## **1. Accounting policies**
## **1.1 Basis of preparation of financial statements**
The financial statements have been prepared in accordance with the Charities SORP (FRS 102) - 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 Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011.
The financial statements have been prepared to give a 'true and fair' view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a 'true and fair' view. This departure has involved following the Charities SORP (FRS 102) published on 16 July 2014 rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn.
Young Norfolk Arts Trust meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.
## **1.2 Going concern**
After making appropriate enquiries, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements.
## **1.3 Income**
All income is recognised once the charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.
Grants are included in the Statement of Financial Activities on a receivable basis. The balance of income received for specific purposes but not expended during the period is shown in the relevant funds on the Balance Sheet. Where income is received in advance of entitlement of receipt, its recognition is deferred and included in creditors as deferred income. Where entitlement occurs before income is received, the income is accrued.
Other income is recognised in the period in which it is receivable and to the extent the goods have been provided or on completion of the service.
## **1.4 Expenditure**
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement, and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources.
12
## **YOUNG NORFOLK ARTS TRUST**
**NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022**
Support costs are those costs incurred directly in support of expenditure on the objects of the charity. Governance costs are those incurred in connection with administration of the charity and compliance with constitutional and statutory requirements.
Charitable activities are costs incurred on the charity's educational operations, including support costs and costs relating to the governance of the charity apportioned to charitable activities.
## **1.5 Debtors**
Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.
## **1.6 Cash at bank and in hand**
Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.
## **1.7 Liabilities and provisions**
Liabilities are recognised when there is an obligation at the Balance Sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably.
Liabilities are recognised at the amount that the charity anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.
## **1.8 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 with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.
## **1.9 Fund accounting**
General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the charity and which have not been designated for other purposes.
Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the charity for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.
13
## **YOUNG NORFOLK ARTS TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022**
## **2. Legal Status**
The charity is a charitable incorporated organisation (CIO), and is registered with The Charity Commission for England and Wales (charity number 1182863).
## **3. Donations**
|**Arts Council England grants**
ACE project grants
**Other government grants**
Culture Recovery Fund
Norfolk County Council
Norwich City Council
**Other grants and donations**
Trusts and foundations
Donations
Donated goods and services
**Total grants and donations**|Unrestricted
funds
Restricted
funds
**Total**
Unrestricted
funds
Restricted
funds
**Total**
2022
2022
**2022**
2021
2021
**2021**
£
£
**£**
£
£
**£**
-
58,800
58,800
-
39,200
39,200
-
30,000
30,000
-
-
-
2,000
-
2,000
-
450
450
-
-
-
-
500
500
-
24,700
24,700
4,000
71,200
75,200
1,650
-
1,650
250
1,305
1,555
3,675
-
3,675
3,900
-
3,900|
|---|---|
||**7,325**
**113,500**
**120,825**
**8,150**
**112,655**
**120,805**|
## **4. Income from charitable activities**
|Participation fees
Commission fees
Contributions to costs
Consultancy & training fees
**Total income from charitable activities**|**Total**
**Total**
**2022**
**2021**
**£**
**£**
665
-
-
1,600
-
900
3,100
425|
|---|---|
||**3,765**
**2,925**|
All income from charitable activities is unrestricted in 2022 and 2021.
14
## **YOUNG NORFOLK ARTS TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022**
## **5. Expenditure**
|**Direct costs**
Festival Director and coordination costs
Artistic production costs
Transport and event costs
Marketing and developing audiences
Training and workshops for Collective members
Evaluation
**Support costs**
Office and IT costs
Finance support and grant certification costs
Insurance
Governance
Organisational development
Other costs
**Total expenditure**
**6.**
**Independent examiner’s remuneration**
Fees payable to the charity’s independent examiner for:
Independent examination
Grant certification|**Total**
**Total**
**2022**
**2021**
**£**
**£**
69,955
55,398
15,934
24,486
2,740
500
5,821
4,129
3,379
2,430
1,193
-|
|---|---|
||99,022
86,943|
||2,217
591
5,589
2,818
970
916
1,074
981
247
752
343
177|
||10,440
6,235|
|||
||**109,462 **
**93,178**|
||**Total**
**Total**
**2022**
**2021**
**£**
**£**
1,074
981
1,200
-|
15
## **YOUNG NORFOLK ARTS TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022**
## **7. Analysis of staff costs, trustee remuneration and expenses, and the cost of key management personnel**
|Salaries and wages
Social security costs
Pension costs|**Total**
**2022**
**Total**
**2021**
**£**
**£**
38,362
741
-
-
521
-|
|---|---|
||38,883
741|
The charity first employed staff in March 2021.
The average headcount per month was 3.5 (2021: less than 1)
No employee earned over £60,000 (2021: none).
The key management personnel of the charity are deemed to be the trustees. As a result, the remuneration of the key management personnel in the year was £nil (2021: £nil). The trustees contract with an external part time Director who is considered to be key management. Total fees paid to the Director on a consultancy basis were £27,504 (2021: £25,000).
## **8. Pension costs**
The charity operates an auto enrolment pension scheme. The scheme and its assets are held by independent managers. The pension charge represents employer contributions payable by the charity, and amounted to £521 for year to 31 March 2022 (2021: £nil).
16
## **YOUNG NORFOLK ARTS TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022**
## **9. Debtors**
|Grants receivale
Prepayments and accrued income
Other debtors
**10.**
**Creditors**
Trade creditors
Accruals|**Total**
**2022**
**Total**
**2021**
**£**
**£**
1,200
-
2,406
-
-
290|
|---|---|
||**3,606**
**290**|
||**Total**
**2022**
**Total**
**2021**
**£**
**£**
662
-
1,224
1,128|
||**1,886**
**1,128**|
17
## **YOUNG NORFOLK ARTS TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022**
## **11. Analysis of charitable funds**
|**Unrestricted funds**
General funds
**Restricted funds**
Arts Council England 2019-21
Storytelling Project
ONOA Visual Arts Roadshow
Anguish’s Covid Reimaging
Digital Platforms – Moving IT On
Megaphone Project
Norfolk Creativity Collective
Norwich 2040 LCEP
Norwich School for Literary Projects
Arts Council England 2021-23
NCF Covid Response & Recovery
Culture Recovery Fund
Foyle Foundation for Core Salary Costs
Moving IT On – Stage 2
**Total funds**|**Funds**
**Income**
**Expenditure**
**Funds**
**1 Apr 21**
**31 Mar 22**
**£**
**£**
**£**
**£**|
|---|---|
||34,687
11,090
(11,090)
34,687|
||10,306
9,800
(20,106)
-
680
-
-
680
496
-
-
496
23,849
-
(11,325)
12,524
1,504
500
(2,004)
-
4,144
-
(716)
3,428
555
-
(555)
-
23,082
-
(4,562)
18,520
-
5,000
(5,000)
-
-
49,000
(5,954)
43,046
-
8,000
(8,000)
-
-
30,000
(30,000)
-
-
10,000
(10,000)
-
-
1,200
(150)
1,050|
||64,616
113,500
(98,372)
79,744|
|||
||**99,303**
**124,590**
**(109,462)**
**114,431**|
18
## **YOUNG NORFOLK ARTS TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022**
## **Analysis of charitable funds – prior year**
|**_Unrestricted funds_**
_General funds_
**_Restricted funds_**
_Arts Council England 2019-21_
_Storytelling Project_
_ONOA Visual Arts Roadshow_
_Musician Development Programme_
_Lord Mayor’s Celebrations_
_Virtual Gallery_
_Anguish’s Covid Reimagining_
_Digital Platforms – Moving IT On_
_Megaphone Project_
_Norfolk Creativity Collective_
_Norwich 2040 LCEP_
**_Total funds_**|**_Funds_**
**_Income_**
**_Expenditure_**
**_Funds_**
**_1 Apr 20_**
**_31 Mar 21_**
**_£_**
**_£_**
**_£_**
**_£_**|
|---|---|
||_34,687_
_11,075_
_(11,075)_
_34,687_|
||_31,888_
_39,200_
_(60,782)_
_10,306_
_680_
_-_
_-_
_680_
_496_
_-_
_-_
_496_
_1,000_
_-_
_(1,000)_
_-_
_-_
_500_
_(500)_
_-_
_-_
_5,450_
_(5,450)_
_-_
_-_
_25,000_
_(1,151)_
_23,849_
_-_
_4,500_
_(2,996)_
_1,504_
_-_
_7,000_
_(2,856)_
_4,144_
_-_
_6,005_
_(5,450)_
_555_
_-_
_25,000_
_(1,918)_
_23,082_|
||_34,064_
_112,655_
_(82,103)_
_64,616_|
|||
||**_68,751_**
**_123,730_**
**_(93,178)_**
**_99,303_**|
19
## **YOUNG NORFOLK ARTS TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022**
## **Descriptions of the 2022 restricted funds:**
Arts Council England 2019-21 Supporting the Young Norfolk Arts Trust Development & Progression 2019-21 Storytelling Project Grant from The Geoffrey Watling Charity for this storytelling project which piloted in Mile Cross Library ONOA Visual Arts Roadshow Funding for 'Our Norfolk Arts Adventures' Visual Arts Roadshow linked workshops and celebration Anguish’s Covid Reimaging Grant from Anguish's Educational Foundation towards 2021-22 programme delivery Digital Platforms – Moving IT On R&D innovation funding to explore digital platforms for group working with young people Megaphone Project Funding from Norwich Freemen's Charity for a creative activism project (Megaphone) Norfolk Creativity Collective Funding from a collective of local charities & organisations to support the creation and delivery of 10,000 Let's Create Packs to children during the Covid-19 pandemic Norwich 2040 LCEP Funding from Norfolk & Norwich Festival Bridge for the Norwich 2040 Local Cultural Education Partnership Norwich School for Literary Projects Norwich School support for literary projects including the Poetry Slam competition, and the Toast poetry and Michael Morpurgo events at the 2021 festival Arts Council England 2021-23 Supporting Young Norfolk Arts Trust activity 2021-23 NCF Covid Response & Recovery Grant from the Norfolk Community Foundation for core support costs towards delivering activity to support young people and their mental wellbeing Culture Recovery Fund Culture Recovery Fund grant to support our transition through the Covid pandemic (over the period April to December 2021) Foyle Foundation for Core Salary Grant from the The Foyle Foundation towards the core Costs staffing costs of YNAT to ensure activity to support young people carried on during the pandemic Moving IT On – Stage 2 Funding from Norfolk & Norwich Festival Bridge for an R&D project to explore the use of film and film technology in our work
20
**NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022**
## **YOUNG NORFOLK ARTS TRUST**
## **12. Analysis of net assets between funds**
|Current assets
Creditors due within one year|Unrestricted
funds
Restricted
funds
**Total**
**funds**
Unrestricted
funds
Restricted
funds
**Total**
**funds**
2022
2022
**2022**
2021
2021
**2021**
£
£
**£**
£
£
**£**
34,687
81,630
116,317
34,687
65,774
100,461
-
(1,886)
(1,886)
-
(1,158)
(1,158)|
|---|---|
||34,687
79,744
114,431
34,687
64,616
99,303|
## **13. Related party transactions**
During the year the charity received a grant of £5,000 (2021: £5,000) from Norwich School towards literary projects (2021: towards the creation of a virtual gallery space). The Chair of Trustees of the charity is the Headmaster of Norwich School.
Lewis Buxton is a trustee of the charity, and also provides, and facilitates, poetry workshops on its behalf. During the year the charity paid £1,648 to Lewis (2021: £1,613). These payments are permitted according to the constitution of the charity, and the poet is engaged on the same basis and terms as other artists of similar standing and expertise.
21