TRUSTEES REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31[ST ] MARCH 2025
CHARITY NUMBER 1162863
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Photography by Digby Harrison
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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 - 7|
|**Independent Examiner's Report**|8 - 9|
|**Statement of Financial Activities**|10|
|**Balance Sheet**|11|
|**Notes to the Financial Statements**|12 - 23|
## **YOUNG NORFOLK ARTS TRUST**
## **REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 MARCH 2025**
|**Trustees**|Steffan Griffiths, Chair (resigned 1 September 2024)|
|---|---|
||Rachel Quick Butwright|
||Nina Nannar (resigned 1 September 2024)|
||Naomi Palmer|
||Eleanor Reeves|
|**Charity registered**
**number**
1162863
**Principal office**
c/o Norwich Arts Centre
51 St. Benedicts Street
Norwich
Norfolk
NR2 4PG
**Trust Correspondence**
**and Director**
Mrs Lucy Farrant
c/o Norwich Arts Centre, 51 St Benedicts Street, Norwich, NR2 4PG
Email: director@youngnorfolkarts.org
**Accountants**
Larking Gowen LLP
Chartered Accountants
1st Floor, Prospect House
Rouen Road
Norwich
NR1 1RE||
Page 1
## **YOUNG NORFOLK ARTS TRUST**
## **TRUSTEES’ REPORT FOR THE YEAR ENDED 31 MARCH 2025**
The Trustees present their annual report together with the financial statements of the charity for the year 1 April 2024 to 31 March 2025.
## **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 enhance their 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 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 2025**
Year-round activities including:
- Key partner in delivery of the Young Norwich Creative Awards (YNCAs)
- 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).
- Member of Norwich’s Creative City Compact.
## **Delivery of activity and achievements during the year**
## **Young Norfolk Arts Festival 2024**
- YNAF 24 delivered a diverse programme of events ranging from creative workshops to delivering a stage for young performers in Chapelfield Gardens as part of the Lord Mayor’s Celebrations.
- Overall, the Festival engaged young people as performers, had a live audience of several thousand and reached many more digitally through our website, social media, podcasts and broadcasts.
## **YNA Collective**
We have undertaken two rounds of recruitment for our YNA Collective and engaged an average of 15 young people from across the County with those weekly activities. This activity has been supported by an Arts Council project grant: Holding Space.
.
3
## **YOUNG NORFOLK ARTS TRUST**
## **TRUSTEES’ REPORT FOR THE YEAR ENDED 31 MARCH 2025**
## **Norwich 2040 Local Cultural Education Partnership (LCEP)**
YNAT is the delivery arm and secretariat for the Norwich 2040 Local Cultural Education Partnership. Since March 2020, the Partnership has delivered two successful Citywide projects – Figurine it Out and Postcard Poems. These projects combined for the 2023 Festival and nearly 2,000 children contributed work to displays around the City.
Due to withdrawal of ACE funding for LCEPs , the Partnership is reimagining itself in a more strategic role rather than a delivery role. It has created the brand: Young in Norwich and is developing ways to broadcast information to young people and educators about unique cultural opportunities available in the City and regions.
The Director fulfills a pro bono role as the LCEP’s co- Chair.
_Photography by Malachy Luckie of Postcard Poems from YNAF 22_
## **Norwich Creative City Compact**
The YNAT Director in her capacity as Co- Chair of the LCEP sits on Norwich this group (unpaid). The group meets bi -monthly and plans the City’s overall cultural strategy in line with its 2040 Visions.
4
## **YOUNG NORFOLK ARTS TRUST**
## **TRUSTEES’ REPORT FOR THE YEAR ENDED 31 MARCH 2025**
## **>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. An in person >Engage Works event took place in November 2022 at the National Centre for Writing and was well received by all participants. The LCEP did not have sufficient funds to deliver an >Engage Works event in 2024 but will do so as soon as it can.
_Photography by Malachy Luckie of Engage Works 22_
## **Plans for the future**
The past year has remained challenging for everyone due to rising inflation and the cost-of-living crisis. We are confident that our strong partnerships and flexible attitude will enable us to adapt to difficult circumstances once again in 2025-2026. We are reconsidering our strategy to meet these challenges.
Norwich and Norfolk have a deeply cultural heritage, and we are pleased to be a part of their wider creative ecology. The Director is the Chair of the Freshly Greated Consortium Board in Great Yarmouth (pro bono) and is helping to forge stronger links with arts organisations and young people there. We will continue our deep involvement with the LCEP and will work in partnership with it to deliver and disseminate opportunities for cultural education.
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 as well as to lessen environmental impacts from our activities.
5
## **YOUNG NORFOLK ARTS TRUST**
## **TRUSTEES’ REPORT FOR THE YEAR ENDED 31 MARCH 2025**
## **Financial review of the year**
The charity reported a net surplus of £6,774 for the year ended 31 March 2025 (2024: deficit of £56,636). This comprised a surplus of £12,584 on restricted funds (2024: deficit of £39,778), offset by a deficit of £5,810 on unrestricted funds (2024: deficit of £16,858).
The restricted fund surplus primarily relates to a grant of £26,550 received from Arts Council England to support the _Holding Space_ project (2023–2024). Of this funding, £13,604 was spent during the financial year, leaving a balance of £12,946 to be carried forward for project activities scheduled after 31 March 2025.
A detailed breakdown of income and expenditure by fund is provided in Note 10 to the financial statements, which also includes descriptions of all funds held. During the year, the charity was pleased to receive additional funding from Norwich School and Norwich City Council to support several YNAT projects.
As at 31 March 2025, total reserves stood at £31,840 (2024: £25,066), comprising £12,019 in unrestricted funds (2024: £17,829) and £19,821 in restricted funds (2024: £7,237).
The charity continues to raise income from a variety of sources but remains heavily reliant on grant funding from local and national charities, as well as Arts Council England.
## **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 to commit to expenditure only when sufficient income has been received or formally pledged. The current unrestricted fund balance of £12,019 is held primarily in cash and represents approximately four months of the charity’s total annual expenditure, including both restricted and unrestricted funds. This reserve is essential for managing the cash flow requirements of large projects and provide a financial buffer to allow time for strategic planning in the event of unexpected changes to funding or activities.
As at 31 March 2025, the level of restricted reserves was £19,821 (2024: £7,237)
6
## **YOUNG NORFOLK ARTS TRUST**
## **TRUSTEES’ REPORT FOR THE YEAR ENDED 31 MARCH 2025**
## **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.
## **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.
## 06 Jan 2026
Approved by order of the members of the board of Trustees on ………………… and signed on their behalf by:
_____________________
## **Rachel Quick Butwright**
Trustee
7
## **YOUNG NORFOLK ARTS TRUST**
## **INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 MARCH 2025**
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 2025.
## **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:
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 identified one matter in connection with my examination that I consider necessary to draw attention to, in order to enable a proper understanding of the financial statements.
As described in Note 2.2, there is material uncertainty regarding the charity’s future income due to reduced availability of funding and increased competition for these funds from other charities and charitable trusts.
The trustees have assessed the charity’s going concern status, taking into account the measures implemented to stabilise its financial position, as well as the cash resources available and committed at the date of approval of the financial statements. Based on this assessment, they have concluded that the financial statements should be prepared on a going concern basis.
The financial statements do not include any adjustments that may be required should the charity be unable to continue as a going concern.
Page 8
## **YOUNG NORFOLK ARTS TRUST**
## **INDEPENDENT EXAMINER'S REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025**
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.
08 Jan 2026 Signed: Dated:
J Grimmer FCA DChA
## **Larking Gowen LLP**
Chartered Accountants, Norwich
Page 9
## **YOUNG NORFOLK ARTS TRUST**
## **STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2025**
|**Note**
**Income from:**
Donations and grants
3
Charitable activities
4
**Total income**
**Expenditure on:**
Charitable activities
**Total expenditure**
**Net movement in funds**
**Reconciliation of funds:**
Total funds brought forward
Net movement in funds
**Total funds carried forward**|**Unrestricted**
**funds**
**2025**
**£**
**2,000**
**-**
**2,000**
**7,810**
**7,810**
**(5,810)**
**17,829**
**(5,810)**
**12,019**|**Restricted**
**funds**
**2025**
**£**
**36,550**
**-**
**36,550**
**23,966**
**23,966**
**12,584**
**7,237**
**12,584**
**19,821**|**Total**
**funds**
**2025**
**£**
**38,550**
**-**
**38,550**
**31,776**
**31,776**
**6,774**
**25,066**
**6,774**
**31,840**|_Total_
_funds_
_2024_
_£_
_34,550_
_1,550_
_36,100_
_92,736_
_92,736_
_(56,636)_
_81,702_
_(56,636)_
_25,066_|
|---|---|---|---|---|
The Statement of Financial Activities includes all gains and losses recognised in the Year.
The notes on pages 12 to 23 form part of these financial statements.
Page 10
## **YOUNG NORFOLK ARTS TRUST**
## **BALANCE SHEET AS AT 31 MARCH 2025**
|**Note**
**Current assets**
Cash at bank and in hand
**Current liabilities**
Creditors: amounts falling due within one
year
9
**Net current assets**
**Total net assets**
**Charity funds**
Restricted funds
10
Unrestricted funds
10
**Total funds**|**37,183**
**37,183**
**(5,343)**|**2025**
**£**
**31,840**
**31,840**
**19,821**
**12,019**
**31,840**|_28,773_
_28,773_
_(3,707)_|_2024_
_£_
_25,066_|
|---|---|---|---|---|
||||||
|||||_25,066_|
|||||_7,237_
_17,829_|
||||||
|||||_25,066_|
The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by:
## **Rachel Quick Butwright**
(Trustee) Date: 06 Jan 2026
The notes on pages 12 to 23 form part of these financial statements.
Page 11
## **YOUNG NORFOLK ARTS TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025**
## **1. General information**
The Charity is a charitable incorporated organisation (CIO), and is registered with the Charity Commission for England and Wales (charity number 1162863)
## **2. Accounting policies**
## **2.1 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 in October 2019 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.
Page 12
## **YOUNG NORFOLK ARTS TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025**
## **2. Accounting policies (continued)**
## **2.2 Going concern**
For the year ended 31 March 2025, the Trust recorded a surplus of £6,774 (2024: deficit of £56,636). Free reserves decreased to £12,019 from £17,829 at the previous year-end.
The Trust’s operations remain heavily reliant on income from grants and donations, and there is material uncertainty regarding future income streams.
While total income increased by £2,450 in 2024/2025 compared to the previous year, only £2,000 of unrestricted income was raised. The Trust continues to prioritise securing grant funding and exploring opportunities to attract voluntary funds.
As of the date of this report, no income has been received for the 2025/2026 financial year. However, the Trust plans to submit applications to several charitable trusts and foundations. Historically, the Trust has received support from Arts Council England (ACE), but the application portal was temporarily closed in 2025 and only reopened towards the end of September. The Trust is committed to making a strong effort to secure funding through this channel.
The cost reduction strategy implemented in 2024/2025 proved effective, enabling tighter control over expenditure. As a result, costs were significantly reduced, contributing to the year-end surplus. The Trust will continue to closely monitor and manage costs in the coming year.
The charity’s reserves policy is to commit to expenditure only when sufficient income has been received or formally pledged. The current unrestricted fund balance of £12,019 is held primarily in cash and represents approximately four months of total annual expenditure, including both restricted and unrestricted funds. These reserves are vital for managing the cash flow demands of large projects and provide a financial buffer to support strategic planning in the event of unexpected changes to funding or activity.
As at 31 March 2025, restricted reserves stood at £19,821 (2024: £7,237).
Taking into account the recent positive developments in cash flow and the success of the cost control measures, the trustees consider it appropriate to prepare the financial statements on a going concern basis.
## **2.3 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.
Page 13
## **YOUNG NORFOLK ARTS TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025**
## **2. Accounting policies (continued)**
## **2.4 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.
Support 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.
Expenditure on charitable activities is incurred on directly undertaking the activities which further the charity's objectives, as well as any associated support costs.
## **2.5 Government grants**
Government grants relating to tangible fixed assets are treated as deferred income and released to the Statement of Financial Activities upon the completion of the relevant performance-related conditions. Other grants that are not subject to performance-related conditions are credited to the Statement of Financial Activities as the grant proceeds are received. Grants received prior to the revenue recognition criteria being satisfied are recognised as a liability.
## **2.6 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.
## **2.7 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.
## **2.8 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.
Page 14
**YOUNG NORFOLK ARTS TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025**
## **2. Accounting policies (continued)**
## **2.9 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.
## **3. Income from donations and grants**
|**Unrestricted**
**funds**
**2025**
**£**
Norwich City Council
2,000
Arts Council England grants
-
Trusts and foundations
-
2,000
_Unrestricted_
_funds_
_2024_
_£_
Donated goods and services
_-_
Norwich City Council
_-_
Arts Council England grants
_-_
Trusts and foundations
_13,000_
_13,000_|**Restricted**
**funds**
**2025**
**£**
5,000
26,550
5,000
36,550
_Restricted_
_funds_
_2024_
_£_
_250_
_1,500_
_9,800_
_10,000_
_21,550_|**Total**
**funds**
**2025**
**£**
**7,000**
**26,550**
**5,000**|
|---|---|---|
|||**38,550**|
|||_Total_
_funds_
_2024_
_£_
_250_
_1,500_
_9,800_
_23,000_|
|||_34,550_|
Page 15
## **YOUNG NORFOLK ARTS TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025**
## **4. Income from charitable activities**
|Participation fees
Consultancy and training fees
Other fees|**Total**
**funds**
**2025**
**£**
**-**
**-**
**-**
**-**|_Total_
_funds_
_2024_
_£_
_800_
_700_
_50_|
|---|---|---|
|||_1,550_|
## **5. Analysis of expenditure by activities**
|Charitable activities
Charitable activities|**Activities**
**undertaken**
**directly**
**2025**
**£**
26,151
_Activities_
_undertaken_
_directly_
_2024_
_£_
_83,424_|**Support**
**costs**
**2025**
**£**
5,625
_Support_
_costs_
_2024_
_£_
_9,312_|**Total**
**funds**
**2025**
**£**
**31,776**|
|---|---|---|---|
||||_Total_
_funds_
_2024_
_£_
_92,736_|
Page 16
**YOUNG NORFOLK ARTS TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025**
## **5. Analysis of expenditure by activities (continued)**
## **Analysis of direct costs**
|Director and coordinating costs
Artistic production costs
Transport and event costs
Marketing and developing audiences
Training and workshops for Collective members|**Activities**
**2025**
**£**
16,974
991
6,429
1,757
-
26,151|**Total**
**funds**
**2025**
**£**
**16,974**
**991**
**6,429**
**1,757**
**-**
**26,151**|_Total_
_funds_
_2024_
_£_
_59,995_
_12,462_
_6,649_
_2,481_
_1,837_|
|---|---|---|---|
||||_83,424_|
## **Analysis of support costs**
|Office and IT costs
Finance and grant certification costs
Insurance
Organisational development
Other costs
Governance costs|**Activities**
**2025**
**£**
645
-
1,039
-
53
3,888
5,625|**Total**
**funds**
**2025**
**£**
**645**
**-**
**1,039**
**-**
**53**
**3,888**
**5,625**|_Total_
_funds_
_2024_
_£_
_1,860_
_2,111_
_929_
_259_
_253_
_3,900_|
|---|---|---|---|
||||_9,312_|
Page 17
## **YOUNG NORFOLK ARTS TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025**
## **6. Independent examiner's remuneration**
||**2025**|_2024_|
|---|---|---|
||**£**|_£_|
|Fees payable to the charity's independent examiner for the independent|||
|examination of the charity's annual accounts|**1,524**|_1,452_|
|Fees payable to the charity's independent examiner in respect of:|||
|Grant certification|**-**|_600_|
|Taxation compliance services|**420**|_-_|
|Accounts preparation|**1,944**|_1,848_|
## **7. Staff costs**
||**2025**|_2024_|
|---|---|---|
||**£**|_£_|
|Wages and Salaries|**-**|_24,958_|
All charity employees resigned during the financial year 2023/2024 and have not been replaced, as the charity transitioned to a new operating model. This change reflects a strategic shift towards more focused and scaled-back activities, primarily centred on collective initiatives.
Where necessary, the charity engaged freelance and contractor support to deliver specific functions. This included finance support provided by Norwich School, among other ad hoc services.
The Charity operated an auto enrolment pension scheme in in the prior year. The scheme and its assets were held by independent managers. The pension charge represented employer contributions payable by the charity in the year to 31 March 2024 amounted to £378.
The average number of persons employed by the charity during the Year was as follows:
||**2024**|_2024_|
|---|---|---|
||**No.**|_No._|
|Employees|**-**|_3_|
The key management personnel of the charity are deemed to be the trustees. The trustees also contract with an external consultant, as part time Director, who they also consider to be key management personnel. Total fees paid to the Director on a consultancy basis amounted to £8,361 (2024: £26,480).
Page 18
## **YOUNG NORFOLK ARTS TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025**
## **8. Trustees' remuneration and expenses**
During the Year, no Trustees received any remuneration or other benefits _(2024 - £NIL)_ .
During the Year ended 31 March 2025, no Trustee expenses have been incurred _(2024 - £NIL)_ .
## **9. Creditors: Amounts falling due within one year**
|Trade creditors
Other creditors
Accruals and deferred income|**2025**
**£**
**1,625**
**250**
**3,468**
**5,343**|_2024_
_£_
_157_
_250_
_3,300_|
|---|---|---|
||||
|||_3,707_|
Page 19
**YOUNG NORFOLK ARTS TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025**
## **10. Statement of funds**
## **Statement of funds - current year**
|**Unrestricted funds**
General Funds
**Restricted funds**
Arts Council England 2023-2024
Megaphone Project
Norwich 2040 LCEP
Norfolk Young Arts Festival 2024
Birdland Project
Creative Awards Grant
**Total of funds**|**Balance at 1**
**April 2024**
**£**
**17,829**
**-**
**727**
**6,287**
**-**
**223**
**-**
**7,237**
**25,066**|**Income**
**£**
**2,000**
**26,550**
**-**
**-**
**5,000**
**-**
**5,000**
**36,550**
**38,550**|**Expenditure**
**£**
**(7,810)**
**(13,604)**
**(727)**
**(2,102)**
**(2,310)**
**(223)**
**(5,000)**
**(23,966)**
**(31,776)**|**Balance at**
**31 March**
**2025**
**£**
**12,019**|
|---|---|---|---|---|
|||||**12,946**
**-**
**4,185**
**2,690**
**-**
**-**|
|||||**19,821**|
|||||**31,840**|
Page 20
## **YOUNG NORFOLK ARTS TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025**
## **10. Statement of funds (continued)**
## **Statement of funds - prior year**
|**Unrestricted funds**
General Funds
**Restricted funds**
Arts Council England 2023-
2024
Megaphone Project
Norwich 2040 LCEP
Deep Engagement with Young
People
Norfolk Young Arts Festival
2024
Birdland Project
Anguish's Educational
Foundation - Holding space
**Total of funds**|_Balance at_
_1 April 2023_
_£_
_34,687_
_11,281_
_1,108_
_15,499_
_6,627_
_12,500_
_-_
_-_
_47,015_
_81,702_|_Income_
_£_
_14,550_
_10,050_
_-_
_-_
_-_
_1,500_
_2,000_
_8,000_
_21,550_
_36,100_|_Expenditure_
_£_
_(29,754)_
_(22,985)_
_(381)_
_(9,212)_
_(6,627)_
_(14,000)_
_(1,777)_
_(8,000)_
_(62,982)_
_(92,736)_|_Transfers_
_in/out_
_£_
_(1,654)_
_1,654_
_-_
_-_
_-_
_-_
_-_
_-_
_1,654_
_-_|_Balance at_
_31 March_
_2024_
_£_
_17,829_|
|---|---|---|---|---|---|
||||||_-_
_727_
_6,287_
_-_
_-_
_223_
_-_|
||||||_7,237_|
||||||_25,066_|
Page 21
## **YOUNG NORFOLK ARTS TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025**
## **10. Statement of funds (continued)**
Descriptions of the 2024/2025 restricted funds:
Arts Council England 2023-24 - Supporting Young Norfolk Arts Trust activity 2023-24
Megaphone Project - Funding from Norwich Freemen's Charity and Norfolk Community Foundation for a creative activism project (Megaphone).
Norwich 2040 LCEP - Funding from Norfolk & Norwich Festival Bridge for the Norwich 2040 Local Cultural Education Partnership.
Norwich Young Arts Festival 2024 - Funding from Norwich School towards the Young Norfolk Arts Festival 2024.
Birdland Project - Funding from Chivers Trust to support the artist, authors and workshop fees of the Birdland project.
Young Norfolk Creative Award Grant - Funding from Norwich City Concil towardsa programme of awards for creatives aged 16–25 in Norwich celebrating original work in collaboration with Norwich Arts Centre, National Centre for Writing, The Forum and Young Norfolk Arts.
## **11. Analysis of net assets between funds**
## **Analysis of net assets between funds - current year**
|**Unrestricted**
**funds**
**2025**
**£**
Current assets
12,019
Creditors due within one year
-
**Total**
12,019|**Restricted**
**funds**
**2025**
**£**
25,164
(5,343)
19,821|**Total**
**funds**
**2025**
**£**
**37,183**
**(5,343)**
**31,840**|
|---|---|---|
Page 22
**YOUNG NORFOLK ARTS TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025**
## **11. Analysis of net assets between funds (continued)**
## **Analysis of net assets between funds - prior year**
|Current assets
Creditors due within one year
**Total**|_Unrestricted_
_funds_
_2024_
_£_
_17,829_
_-_
_17,829_|_Restricted_
_funds_
_2024_
_£_
_10,944_
_(3,707)_
_7,237_|_Total_
_funds_
_2024_
_£_
_28,773_
_(3,707)_
_25,066_|
|---|---|---|---|
## **12. Related party transactions**
Lewis Buxton is a trustee of the charity, and also provides, and facilitates, poetry workshops on its behalf. During the year the charity paid £Nil to Lewis (2024: £3,181). 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.
Lucy Farrant is the Director of the charity, and considered part of the key management personnel. She is engaged on a consultancy basis and was paid £8,361 during the year (2024: £26,480).
Page 23
## **SIGNATURE CERTIFICATE**
## Document
Name **Y040060 Young Norfolk Arts Trust 31 03 2025 - Final Accounts** Creator **Yulia Varvel (Yulia.Varvel@larking-gowen.co.uk)** Date **06 January 2026 16:48:57 UTC** Identifier **e296a9f6-61bd-4cf3-8477-ed901895a00e**
## Signers
## **principal@thewherryschool.co.uk**
E-mail **principal@thewherryschool.co.uk** Signed **06 January 2026 17:01:43 UTC** IP address **5.151.232.17**
## **Julie Grimmer**
E-mail **Julie.Grimmer@larking-gowen.co.uk** Signed **08 January 2026 12:11:19 UTC** IP address **195.224.97.204**