MALVERN CUBE PROJECTS (CHARITABLE INCORPORATED ORGANISATION) ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 IdARCH 2025 Charlty Reglstratlon Numbor: 1165875 MALVERN CUBE PROJECTS LEGAL AND ADMINISTRATIVE INFORMATION JDTerry C E Bennion R Carriw 20.03.25) PA Chuck l Davidsc¥) (app)in￿l 24.10.24) J GI￿eS B Niel CE 8ern* Charilabl• Rogl•tratlon No 1165875 Reg18t•rnd Ollke Alt￿ RoBd North Malvem WR14 2YF 8 Bar* Street IPIR14 2JN MALVERN CUBE PROJECTS coptrENTS TRUSTEES, REPORT INDEPENDENT EXAMINER'S REPORT STATEMENT OF FINANCIAL ACTIVITIES STATEMENf OF FINANCIAL POSITION 10 NOTES AND ACCOUNnNG POUCIES 11-22 MALVERN CUBE PROJECTS TRUSTEES REPORT FOR THE YEAR ENDING 31 MARCH 2025 The accounts have been in aLT£Ydarts with polmx set oul in Note 1 to the ac0￿nts arKI c￿Y with tt* CIO'S ¢onststukn, the Charts8 Act 2011. aThJ'PAwnting and Re￿rtIng by Charities.. Statement of ReCorrWn￿ed Practice to chanties prepwing Iheir accounts in accordance with Financial Reporting Standard awArablè m the UK of Iweland (FRS 102) 1A 8mall enbts8s lfrom 1 January 2019),. TPP oty'Kts ofthe CIO arn: prov18YJn crf recreational andlgisurn time ￿t￿ltieS WOVKled in the interest of S￿i81 welfare. d88h3n￿l to imwfft their L￿K1￿m)n$ of lrfe. Ib) th& pri>v18￿ of SUPFrtxt and actNI1￿ whrh devebp ¥k￿￿ cwtie8 and cap3bilitie8 to enable them to particfjpate in 8c¢*ty as maknre and roswThlble IndIvKI￿1&. thfr CIO S￿￿1 undortaka. Tho clo￿ ￿1￿Y1& to (axsult and dl*xw with matth to affecl Ihw ntsT8$ts. Infonnallon ol Applicatv)ns ftr emptynent ty d8*)led FW80n$ we aPways fulty ¢orMvJer8d, beariTrJ wi mind the aptikn188 af that their empfoyrnent within the CIO conknues and Ihat thè wcyn8te training arraw. 11 B the policy of the CIO that the training. career and ofdtyabknj sIx￿k1, as afara8 POB8i110. b8 identical to that of other emrAoy•e8. Achl•v•ments Ind P•rfomMnv• INTRODUCTION fftil& Mthm Cul)e Prol¢¢b (MCP) r6 the reg￿red name of ￿ legal ￿. the (wating and publie4acwbg name is CUBE YOUTH, left￿tr.ng 118 b￿fil¥8￿$ and the c¢Jmmunty (*ntre f*h8ra it is bwd, known a8 the ma￿em Cube. Cubtr Youth •￿Sts to prty¥ide rositive 8divbtie6 in MaTrMn for young Peop￿ aged 10-18. It has developed a 8uccessfvl model ofa weekty rw *xess Youth Café, SUFwknJ by rarvJe ￿weeklY w fortnwy largoted VIWO ArrENDS Cube Youlh wort8 With young pe(* 10-18. Most atten￿ts are #i the 12.14 agg br&ke( although thère are a $Ignff￿th number of 15 and 16 yoar ohjs who enDty Youth Café sessions. The splrt bel*een Ma￿ and even, as ￿?11 as se￿1 85 nonknary. Over 50% of the attendo88 at many actMbe8 are in reeept of Free Meals aThIl￿ have an EHC (EducatK)n. Health aThJ Carel Plan wi place. MALVERN CUBE PROJECTS TRUSTEES REPORT (COPrnNUED) FOR THE YEAR ENDING 31 MARCH 2025 shthved that in S￿78 sessw)ns ag many as ofthe young peOe wwe from areas cla5wI as'in need,. arKVor arn class&1 as vulnerth bee4use of a dwbdty or personal L¥cUMstan￿ (S￿th as tewbg a kx)ked after chikl or being a schcd relu8er). Most young Fvqe c*ne frcrfn Malvem but sevoTal travelled in from the Kempw. and Upkn on s0￿m. There *Tre many youw poopI8 for e¥•ypl&. Cub& Youkn wo￿3 *ith a wnifunt numbor of young people with ASD (Autism Sp&trum Dkscythr). and tly we oftsn Y￿ng pecyle lon6lin￿ and isolation ha8 been a real concwn for their F*rents. chiktren al￿ <>)mponent oftho can, ￿ do, attend. The young peopte arè ye(hyninanty ￿lIe Brthsh (unsu￿rI6￿￿ consKIwvi9 thé demogr￿￿$ of Ma￿eM> but different ethn￿rtIeS and bac*gftyJnds are rewo8￿￿. Thern rwJul* attendees who arn duol*eAitag8, Romany, Asian, I1￿48n and Ukrainian. also a Gignifunt percentsge of young pewb who atteThJ WIKJ dl8orders. WIHAT IT OFFERS prOw￿n￿5 at Mafvem Cube, and acitrrfty 8tss*)ns al another e4Jmmunty cerrtre in Ma￿•m. It d80 prowdo8 s¢rviee8 at Malvgm Cutr*. Its current t￿ge￿ wow•nm8s ifKJudg a Ycmth Innovation Fund proio(* which provhla8 acce88 to temis tessons, a rock Sch(￿ MUS￿ FwoJe¢t and a d￿J￿819￿ Wel￿81ng fr￿Sed group. HOWTHE PROGR4MME IS DECIDED The programma is dewsed wth part￿lar ts)n8￿ of the feedbath Irthn the aw'# youThJ p￿pIe when tly cAnpieted a recent Bigger PKture 8up•ey was Matr4em Hills Dtstrwx Cwncil. Thi8 eVIde￿d ' that areas of part*￿1&[ corn*m CU￿ your¥J wern mental hoalth ar¥J welb*'ng. crim8 ￿1 a fvture p)8t.8ch¢)ol. Resp￿dfftg b thefte conc4rn h88 res￿￿ in 08tsb11l￿j rnhtr*n8hpg with 88veral10¢81 partner8, dexribed below. STAFFING Cub8 Youth has eslablishod a stable twn of 11 enthu81￿ and wy ¢>pabl& youth to run arKI continues to pay at an hwty rate at￿¥• ts real fNiry wa98, and In trainiryJ to a lewl 2 Y(Kth Klyker Cube Ywlh's Youth Wothers arn abty and Off￿ suwted ty a bw¥J of regular ¥O￿nto￿8 who work abngside them. R￿ent anatysis $h(yws that Cube Youih beneffts on averagg 20 h￿[8 ca weekty support ex texhers, a I￿1 mu8Kian and a trainee ttrw¥6L to Porents. keen to shLMT thBK appreuobon ty volunteering some tine. Thar help suFp)rt arg inVa￿al￿e in managiThJ and enggging the18ry9 and corkwnunty. HOLifA4Y ACT1￿ME$ Cube Youth rnainlain&J its p*e as 8 pcyJlw HAF wov¥Jw, efiab￿l it to a wido rw of Vit￿ and outings for young P¥sfe during the three m•n school holidays. HAF is shorthand for the govemmqnvs HolKlay Acfrrfit* arml Fwd furKI. m8napJ Ictslty by Reaty Steady Vknrrxstershire. Thanks to MALVERN CUBE PROJECTS TRUSTEES REPORT (CONTINUED) FOR THE YEAR ENDING 31 MARCH 2025 DOUBLED Cub6 Youth's budget C4J7N)ared to the previous year! This enabled Cube Youlh to expand its off￿ing and to roxh many more Y￿n9 p* frLYn ecor￿MM7NY dtsthnt* famih'e& At Easter 2025 we provKl8d over a¢liV￿￿ spxe8 and a￿ on delp￿r aff￿nd I2￿ over th8 upcL¥ning *￿thY$. HAF has been so valuat￿0 lo so many yL¥xwpwle theyfamlwl Andgivgn ￿ manyyou people opportUnit￿S they othen¥￿e be able lo do. ftrso many vaiious reasons. My daughter vas so excitsd to b6 aljle to fri) tolay&s txxthalny sr• as I have to th andiust dont get Iho fvme to do thiiigs lkn I￿￿. Ihe yw have a f8￿lY and also disabiltss w the f8nJity. ft takos so muGhplanninq and Lynising lo gel to d) lun thirys. thgsg thiiigs 8ffj w good lorth8m lo f881 ilKffjpendent hav6 fvn arKI make new fi*ndfhps and all Ihe other things thal a so ablo lo gBt (xrt to <*) fun thMig&l &rtiii a sats w¥x¥t8d way. Irs vgry mu(* needed for ouryourwpeople's ￿￿11b￿n9 aTrl hawty a pnwbrnak all Ihe stss80s on youngp8opts. l am wrmng lo exprn￿ my h6artfett Ih8nks fv th8 8cthfr8SY￿prtVm￿d ovorE8st8r. My daughter K w8s oblg k) Ihe Cotsmtsll Wrfe Pa￿ ti¥), F&%1 Bank Y(xrfh Celé. and Water d￿rUpt￿M wnrfranty. K stnwles at and8￿ ￿pe813, Ixrt thanks lo Iho indurn and wpportfve envNtMmenl you offgr, herconfid8rt6 Is she is startwy to lomi reallriBndsh¥)s. It$ l)oen &mazinq to see this prws4 8nd I Intybelievg rts been posstle ty lh8 s819 spatss andexc8lknt . ￿ Jvu. I'm gOn￿1￿Y grntef(rftrlhe Op￿¢u￿ yDU've gfften her, aThl I h(w Ihe valuabb %•v PUBLIC PROFILE Bhow-Gasing y(Mrth group and seling gifts l* h*1 to 8upF￿ ￿ Supgm)athet ¢kinations, eithgr direcuy or from ther ￿51(￿￿. r8i8ed ahyx￿ £5k. while Matrrtn T(wn'8 Mayor made Cube Youth her Charity ofthe Year. PTOnVJtiro Cube Youth's wofile and raising akn￿l £4k from a variety offund- ra8hYJ events durwwJ her year in crtr￿. PARTNERSHIPS AND NE7￿()￿￿NG Cube Youth's effectivene86 and Teach has been significanty enhanc&l by estsbftshry partnerships wrlh several kcal organtS8t•Jn4 inchvthng Mentsl Health UK crmrnsb￿, I￿1 and UK, a)d regular netsvorktng with other yryjth organi8alMYts wider area to exch￿ wjaas and bèst practh*. and provhje mutual ¥upport One partnership in pwtK%lar has trkn9)n￿ this year. that with the ma￿arn Hills Fo¢KJbank. who have pass&J fr￿ *KI soft dmks (kwted ty and kncal supemiarkgts th8t cannot be rnduded in the Fc(¥Jbank's regular parcels for families in need. These were very ￿￿kOMa In both Ihe Yothh Cafe and on the tsips arKI actr¥i¢ps durw¥ Ihe ￿0￿ holtys. SUMMARY MALVERN CUBE PROJECTS TRUSTEES REPORT (CONTINUED) FOR THE YEAR ENDING 31 MARCH 2025 companies. coupled with the diredion and ambition LgNJ out in Cube Youth's Strategic Plan, enabled the aclivrties and strong IIKal partnerships described above. This not only demnslrates the value of working to Strategic Plan but also ￿infOrceS Cube Youth's rcde in providing engaging and sustainabk ￿tsVitieS for Malvern's young people, well into the future. F5nanclal Revl These accounts have been prepared for the financial year ending 31 March 2025. As before, almost all Cube Youth's inwme came from grants and donatK)ns. which fall into one of the following 4 categories that Cube Youth has formalised into a Funding Strategy. This serves the dual purpose of focusing its funding efforts efficiently, and of reassuring funders that It is well wn both day-to-day and with its long-term sustainabilty in nwnd. and therefore worthy of their support. Category A.. Publr bodies grants'ng mults'_year grants in the range of £20-30k pér annum each. Cube Youth aims for 4-5 such grants, b8hveen them making up around 70% of total income, and providing the reassurance of long-lefm financial support. In 24r25, there were 3 such b(yJies- the Lottery1£25k, onding Sep251, MHDC1£20k per annum to 20281 and Public Heath England1£30k per annum to 2028}. In addillon, HAF provided three holiday grants lotalling £32k. and for reasons explained below is included in this category. Category B.. Corporate sponsors, offering anything from £&30k per annum. This was the first we hod such support from Iccal Companies. Our aim is to encourage at least 3 from the highly innovative and successful companies that hav6 made Mafvem their home. These would &￿tribUte 10-15% of total income. Category C.. Trusts, FOUndat￿nS and Communty fvnders. who generally offer On￿ grants in the range £1- 10k, and usualty restricted to swfic activtties or outcomes. By their nature, they are tsked and ￿'d for continuously through the year. They would also make up 10-15% of tolal income. Category D.. A mls¢ellany ol private donations arKI Chargeab￿ seNices, including 'charity of the yearf pchemes. online don*ion platlorm8, and events where Cube Youth interacts directly with the publ￿. This category would Contribute S-10% of incom8. but far more in raising Cute Youth's profi￿ in the k>cal . communlty. In 2024125, the contribution$ (excluding the £10k received from the Lottery on 2￿ March for 20251261 were A £107k, B- £21k, C-£18k, and D- £17k, representing 66%. 13%, 11% and 10% respectNety oftotal income. This suggests Cube Youth is close to where it wants to be in the range and profile of its funders. The ralKs of Unrestr￿ to restricted fvnding was arou1￿ 70.'30, a marked ¢hango from previous years. This balance'both covers core costs and conth"butes significanty to the wide variety of projects and activities. The strategy Outlined above aims to W unrestricted fijnding at 70% or above. HAF fvnding deserves a specpl eAimment, betsuse it does not share the characterist￿$ of the other A category funders. A bid has to be submitted befo￿ every s¢h¢)ol holiday. so not certain until a month or before the holiday starts. However, rts size and importance to the young peO￿e PLrt rf( squarety in this category. In 24125 it was over £30L double the previous year, thereby enabling ￿)re young people to benefit from a wider variety of trips and activities in the Easter, SumTh￿r and Winter holidays. The glowing comments from the young people and their pa￿nts speak to the enoM￿uS value it brought to faMil￿S that would normally struggle to entertain or even feed their children during the school holKlays. For some time this fvnding avenue was under threat. but the Govemment has confir1￿d il will continue for another 3 years to 2029, and given our track record so far. suggests we will be able to fund ￿ntinUIng holiday provision. The year finished with £83k in the bank, £25k ofwhth is core fvnding for the first hair of 2025126. This leaves £58k. so comfortably above the strategic objective of keeping a minimum of £50k in the bank. This is a healthy position, and in addition to the longer-lerm funding already in place described above, Cube. Youth has secured a new grant from the Lottery of £30k per annum to 2030. H(N￿ver. the trustees feel Ihat more bng- MALVERN CUBE PROJECTS TRUSTEES REPORT (CONTINUED) FOR THE YEAR ENDING 31 MARCH 2025 term SOUTces of income are necessary to ensu￿ Cube Youlh's future, and are therefore continuing to look for other potentsal A and B group fiJnder5. FINANCIAL GOVERNANCE As recommended by the Charity Commission and using their c1￿k11s( Cute Youth conducts a Finanoal Controls review annually. lo ensu￿ its systems and practice meet its legal and fiscal requirements, and conform to best practice where appropriate. The revw this year raised no concems or recommendations. Finally, Cube Youth has estsblished wrthin the £50k above a true'rainy day, cash reserve, currendy equivalent lo about 1.5 months. expenditure. The Finance Policy and the Financial Controls review require this lo be reviewed by the trustees annually. to ensure it conts.nues io bg based on both good practs.ce and pra¢ticAI considerations. SUMMARY The result for the year was a surplus of £8312024 - £9.5081. The abrK)unt of reseNes a$ at the balance sheet date amounted lo £83.39012024 . £83.307) including restrttod funds of £19.23912024 - £58,7201 Free reserves. which includes unre8tricted funds after diminabng tangible fixed assets amounted to £62,99012024 - £23,791 }. Rlsk m•nag•mont The Trustees have assessed the major risks to which the CIO ts exposed and are satisfied thal systems are in place to mitigate them. While the tnjstees have aws considered risk in fomulating their policies and practical procedures, they established this year a fomial Risk Register, based on an established methodology 'using a 'traff￿ light. system to rate the cornbined likelihwd and impact of identrf*d risks. {Red - Immediate action needed. Amber- ￿J￿$1deT whether further mitigation needed. Grèen = no action cUrren￿Y needed) . The Risk Register is a valuable tool to enable a systemats'c review of all the risks Cube Youth tsces. It is never 'finished' as conditions and their attendant risks can change all the time. The register al year*nd had no risks rated 'red', but identsfied a handful of risks rated 'ambef that will be re¥￿ 5yStematically over the next 12 mnlhs. Risks around Safeguarding and Health and Safety are reviffwed annually anyway as these are the most critical. Comprehen¥ive insurance covers all Cube Youth's ￿tiVrtIeS and w*thods of delivery. Dovolopmont T￿e Trustees feel that Cube Youth has ncyw reached its opts'mum size. and therefore does not need to grow further beyond any organic growth {mre young people joining than older ones leaving). The development effort thereforg focuses on the Iwo parallel and interrelated strands. based on the Strategic Plan.. 1- maintaining the quality and appeal of the serv￿. combining core provision by Cube Youth rtsdf and in partnership with other Ictal providers, and 2- securing the long-temi funding that will enable the model to run successfully in both temFtime and school holwjays. for al I￿t another S years. Structur•, govornance and manag•m•nt Mafvem Cube Prqects 15 a Charitabte Ino)rKM)rated Organisatson ICIOI, which was registered with the Charity Commisyon on 25th February 2016, with the registration number 1165875. Poge 5 MALVERN CUBE PROJECTS TRUSTEES REPORT ICONTINUED) FOR THE YEAR ENDING 31 AIARCH 2026 The Trustaey who swrfed duty the ye¥ k) ts svJnw¥J of Ihits rewiwere: J.D.Tery C.E Bennion Chuck J Gleaves B Nielsen l Davidson (arp)inted 24.10.241 R Carrington {woYrted 20.03.25) The three or*Jinal partners Mal¥em Ytxrth and Community Trust {MYCT). Plotfom) Housing Group (PHG) and Ma￿arn Hills Distri¢t Cwncil (MHLK) suwied truste88 to the chanty from it8 beuY"nning in 2016. Jdl Tery and Matthew Chuck are trustetrs d MYCT. whilè Car(la B&)nM)n is slill a lrnstoo d MYCT. lan Davmlson tho 8er¥ice bofcrfe MCP over in 2016. and was a trustee for a I￿1 to ensure a smooth translbon. His rebjm to board ha8 trfrjjght very welc¢yn8 experienco and knOw￿d9• of youth work. Bevorfey Is the MHDC rweuenkn. The Trustees fecogniso ts need for strM9 offedr¥8 sKweman(*. They we therefore xtbvely re(Juibng suitable new m?mber8 lo join board oftrustees, to provth the conknuty. kThy*. eyirience. V•1 a￿1 commitment n￿esSary to ftm the chonty oflectrbTty. with the Trustee Chair (Jill Twry} a8 her tine m8nw. The remunoratkyp of tKAh the Manaw aThJ Otherffl￿ is set by the t#)pnl of TnMte8s. None of the Tru*008 has any bgnaftial intw8st in the chwty. applicab￿ and UK k¢ountlng Stsndard8 {United Kingd￿ Gènornlty Pxepted A£c(ymtirYJ Practice}. financial year which give a trug and fair ofthe slat8 of affairJ of the CIO and ofthe IrK¢￿I￿j reBourceJ In prepaiiw these the Tn￿lee$ we rewwal to: make judgemants and wtimates that are mscA￿bIÈ and pruthnt will ¢ontinu8 in Opwat￿. MALVERN CUBE PROJECTS TRUSTEES REPORT (CONTINUED) FOR THE YEAR ENDING 31 MARCH 2025 8t any time the financi81 clthe CIO and ana￿e them to ensure that ts ac£tyJnts compty with the Charilies kt 2011. the Chanty (Paourts aTrd Reports) Regulatsns 2008 ond the pro￿sMX￿ of the trust dg•J. They are afso reSpo￿lbIe for safeguarding the assets ofthe CIO and henc* for taking r￿SOnab￿ steps for TrLthe Oat•J. lu o a£￿2￿25 MALVERN CUBE PROJECTS INDEPENDENT EXAMINERE REPORT TO THE TRUSTEES OF MALVERN CUBE PROJECTS I report to the truste05 my Of1￿ *(x￿nts d MCP fortho yearwYW 31 Marth 21Y25. TAt0ch are set out on p8ges 9 to 22. R•sponsibilftiM and baxi* of r•port requIre￿nts of the Charrtm P4X 2011 Ptt). I report th rwpect of my aThrirthn d tho t*wiVs ¢*mJ (yjt und¥ Sec1h￿ 145 ￿the 2011 kt and in carrying out my examinalion. I have foll¢rA￿ all aprAK8bl8 Dre¢b￿ by the Cha Crni88ion under secaion 145(5Xb) of thfr kL Ind•p￿d￿t •xamln•rf• •t•t•m• . I have com&leted my eXami￿tiOn. I confffm that no rnatwi•l mattarn hav6 to my attèntion In the accwnting rK(Yds were ke0 li with 8eclw)n 130 of the Charili88 Act., the accounts dMI not aCc￿d with the aCcX￿ntirya r•cord& or thè accA)unts dwj not CA)mpty with the ap￿8 re(WiTemonts cOrK￿￿n9 ts fom and conient of a￿unts set out in the Charit*s (P£counts and Report81 Rogu1alior￿ 2008 othor than any rnw¢rement that the xcounts gr4e a and fairf is ryjt a mallor con•hl&rod as part I have concerns and hav¢ aLYos8 rMI other maltern in cl￿ne￿￿7 wih ex•nKi8tion to which attentlon 8hould be drawn In th18 roFkVt in order to enabS8 a pw underntanding of the w)unts to b& reached. Eiizab8th Eyre FCA Elizabeth Eyre Limilad Bank Street Bu8ines8 Centre 6 Bank Street Malvem R142JN . 17" 2025 MALVERN CUBE PROJECTS STATEMEKf OF FINANCIAL ACTivmES Ilncludlng income and expendliure account) FOR THE YEAR ENDED 31 MARCH 2025 fund• 2026 2024 DonatK)n8 *KI grants 110.997 53,921 164,918 1.333 7,124 134.028 851 5.819 Charitable activ￿88 7.124 Tol•l Incom• 119.454 53,921 173.375 140.698 Exp•ndltUT• on: Ch*ltable xtivlUe8 110,246 173,292 131.19) N•t Incom• for th• y••rf N•t Mo¥•m•nt In Fufid• $6,408 (56,325) Fund at 1 2024 (16,844) 24.587 16.844 $8.720 83,307 73,799 Fund bal•fic8• •131 IAar£h 3)25 64,151 19239 8139) 83,307 MALVERN CUBE PROJECTS STATEMENT OF FINANCIAL posrrioN AS AT 31 MARCH 2026 Flx•d A8*ets Tangl￿& As8ets Tradg and other rewvabl8S Ca6h at Lwk and in Iw 11 320 82.624 228 84,614 84,842 Cr•dllorn: •mount• f•lllng du• wllhln ono y••r 12 {1.8S4) (4.575) Il•t Cuff•nt A•••ts 81,090 80,267 83.307 Incom• Fuffll• RèslrK#ed FurKIs Unro8trkt&l Fur¥J¥ . 13 19,239 64.151 58.720 24,587 83.390 83,307 The8e xcounts wore apwovod by the truste98 ￿ £ l - 10 - 2025. J.D.Terry Trustee Paje 10 MALVERN CUBE PROJECTS NOTES TO THE FINANCIAL STATEMEpirs FOR THE YEAR ENDED 31 IAARCH 2025 Ac¢4wnting pollcl•• Matrrfem Cube Projects is a Charitable IfictKF￿a￿ Its reg*tered offro 18 Abgrt R￿d 1.1 Accountlng conv•nllon The acctyJnts have been prepared in aC£Thda￿ with the CIO'S c￿￿titUt￿￿. the Charii*s Ad 2011 arKI preparing their accounts In ￿¢￿￿nce witti FwwKiaf ReportiTr3 StarKlard appluble in the UK and Republic of lyelarnl IFRS 102) S•clion 1A small enlilies, (as wnended for acC￿n￿'n9 penodB )nThncing frcm 1 January 2019). Tho CIO is a PLtslic Benefft Entsty as defined by FRS 102. The CIO h88 taken advantw in Ihe SORP fordwlties apptying FRS 102 Upda JllatNI 1 not to w¢parn 8 StatemMt af Cash FkyK. Tho ar£ount8 arn prep8red In sknrting. i• the funciiorAI of tho CIO. Monetsry amount8 in th•50 finanwl 8tatern￿ts arn mund•d kn th• nwest £ Thè accounts have been Kwar•J h￿t￿l c<>st thè winc4pal xcourAlng r￿licleS a(tr)pted are set Lwjl t*ky•. 12 Golng conc•rn The Tru$tee8 haw 8 rea80na>le expectalW￿ that the CIO adtyuats reBOuT￿ to continue In operational exwtsnc8 for the fcrfesaeable fuknre, and theref￿ ￿nIInue to the ¢(￿Cern bAJIs 1.3 Ch•rfl•bl• fund• Uoreslrthd lundsare avalable for u60 at the di￿￿On crf th• Tn￿0* in fvrlher•Ke ofthoir charit&*te (*ie(kn unle88 tho funds hth• b8en thggnatsd w￿. Restricted funds are 8ubJ￿* lo 8pecific C(M￿tt￿)n8 by d(¥)or8 a¥ to hcw may ba used Th• purpo 1.4 Inc* cosls in(￿r￿d ty ts ￿￿￿ty in tho of its ￿￿1Ville$ and Cr8d*cKs the amount tho ctsity 8ntyi8tes dwll w to a dobt or a prmion ts &*)od8 1.6 T•fflglbl• ts•d a•••l• T8￿b￿ flxad 888ets are inmdty measured at ¢o•t wwj at cost or Yoluation, not they uselul libw th• fo4umJ b8 Plant aThJ equixnent . The gan or Iw ari81ng ￿ tho dtspc￿ crf an as•et i& detern1H￿l as the difftirertt b8l*p8n the 8a18 pro(*&J8 and tho c•rrying valuo of thè as8rt oThJ is r•cowi8ed in n6t Ir￿*M￿{0￿￿Ilur0) for the year. 1.7 Imp•lnn•nt of fix•d *•••l• At each rnFM)rting end date. the CIO thg carylng a￿￿Thts of Its tangibb and Inlangible assets to date￿Ine vthethr thern is ary that th06e 888ets haN* wlfered an impaimwt h)s5. If any Such Ind￿tIOn exists. the arkmiunt ol thè 868at 18 estwnthd in order. to dotwmine the •xlent of th? impoirnenl Ios8 (rf any). Intsngible as88ts with indèffftrte usefvl1fft8 and intangible 8888ts not yet avadablo for u60 are to￿ for Impawment annualty, and whenw there ij an indicab'on that asset may be impair&J. 33.3% m crnt 1A C••h and ￿•h •qul¥al•nt• 1.,9 FlnaD¢l•l In8tnKn The CIO has io appty the bX0V￿I￿ of Sedw)n 11 'BaS￿ Finanwl Instrwn8nW and Seclion 12 'Olher Flnancial InstruThnts 1sts￿. ￿ FRS 102 to all d ts finartial Finandal instnllngnts arn recowi*l in the CI• th• Tntstoos we to make I￿emo￿. aPP8rent from other sources. Thè estxnth and a880CAted as8umpkns are basfjd (Y* historical gstThte8. .Tha eslwnales and underfying a88UmpI￿ are re74VM8d on ￿ ongtyng basis. RMions to acxounting P*13 MALVERN CUBE PROJECTS NOTES TO THE FINANCIAL STATEME￿ FOR THE YEAR ENDED 31 MARCH 2025 3 Grnnts and Donallons Fund Fund• Fund• 2026 tc EV￿ (rKts 1) MHDC Lottwy grant (Noté 2) F14F (Holiday Advlyes & F￿d) Fw )rc88tershlre Cwnty ZX Lidars 7,500 30.(KKI 30.0 20.000 20,000 35.000 15,(K)O 31.898 15,405 12.279 31.898 2,500 22.500 Turner Tru8t Youlh Invesknant FWKI 4.000 2,742 2.742 2,Cil) 2.0fy) 1,701 1,701 3.lJOO 4.990 National FwndatK 15,318 Augtin wvj Hop• 'Elmfey FixmdatiL MHDC VKC1tr8lnlngi cU￿u8 Cablr*t COMF (thru MHDC) Posltivè Thoughts Nati￿al Grfd Fund CL4 Commullty FuTrJ 750 590 750 500 250 250 5,195 2,045 750 The Cl￿P C(xnmw* FuTrJ 3,352 1,000 350 125 Revolution Gym Local Givi 140 92 1.704 1.704 215 110,997 53.921 164.918 134.028 &ite 2: £10,0￿ recei¥•d in Man* 2025 frx lh8 finarthl y 4 Charftable acuvmi 7.124 5,819 14 MALVERN CUBE PROJECTS NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2026 6 Charltabh Actl¥ltl•• Totsl 2026 Totsl 2024 staff C08ts Depreciation *KI Impairnwrt Staff Trairing External oJntrathy8 Resource5 Vonue hiro- other venu88 SuThJry Room hire- Malvem Cube Advertising, Public Relalions & Office Administration expor 100.089 74,n1 1.825 1,211 13,492 14.312 1.979 11,870 19,367 15,157 351 13.120 11.185 150 169,122 127.383 Share of 8UPF** ¢08ts (WJ ￿t0 6) share of Gmmance C(￿ (see ncrte 6) 2,325 1.482 1.536 131190 R•8natysis has been undertaken in th8 current and yw to more accurately 8h4xv tha ¢osts of Ext•rnal c(Yrtrxth, Resourcas and Vonu8 hire. An•ly•l• by Fw Unrestricted funds Re8tri¢t8d fvnds 51,384 173 292 6 support Co•ts B••l• of Insurance ProfeS8￿nal fees A¢countancy 1.729 1.514 811 1,W2 Goveman( 1.536 4,170 3,WJ7 Paje 15 MALVERN CUBE PROJECTS NOTES TO THE FINANCIAL STATalENTS FOR THE YEAR ENDED 31 MARCH 2025 None of the Tru*￿8 (or any perscm ￿Macted with thwn) recer¥vJ any [￿nungrat￿￿ or bonfrffts Irom the CIO thring tho yew. Tho avw8p numbw thuing tho yow was.. 2025 nurnb•r 2024 numb•r Youth man Youth administrator Youth w(xke 11 13 11 Employm•nt Co•t• Wages end Salwkn• Penston Costs 99.305 74.019 712 74.731 1CK>.089 2026 26.140 23.720 P*Je 18 MALVERN CUBE PROJECTS NOTES TO THE FINANCIAL STATEMEI FOR THE YEAR ENDED 31 MARCH 2025 Tanglbl• Fix•d Plant and Equlwnent Tol*l At 1 Awil 2024 D58FX)8 Addthons At 31 M8rth 2025 10.821 (1,045) 10,821 (1.045) 1,618 At 1 Aryll 2024 Di8rthals 7.781 (1,045> 7.781 11,045) At 31 March 2025 C•nylng AMI￿nt At 31 March 2025 At 31 March 2024 10 Flnan¢thl Carrylng Amount of FlnanGl•l AM•ts 320 228 C•rrying Amounl ol Flnan¢l•l U•blN¢I Measured at AJ￿rtised Cost 11 D•btor• Amounts F*lllng T*lthln On• Y••r Trade debtorn 320 228 12 Cr•dltor•: Amoun18 F•w wfthln On• Year PAYE Tralg Creditors Other Creditors {21} 471 477 2.145 1.482 159 P&Je 17 MALVERN CUBE PROJECTS NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 13 R•gtrfcW Fund• X120 Youth Inves￿ FWKI (1> trloilday AdiNryty IHAF) Vlorcestershlre thnty {1) COMF Youth Mu8lc Trllblazw Fund Positive ThOU￿)ts Na110r￿ G￿￿ Comrnunlty Fund Publlc Haalih Englond (Itw MHDC} Tes¢0 FoundalStsn Austln & H Worcg8t8r8hlre County C(uK* r2) Y(Kth Irb¥•Stmert FwKI (2) Elmley FouThJallon Revduuon Gym c￿￿0￿9 Catdnet Sevem Arts Strongthe￿ng Vknrc••t•r•l ZX Lidar Waddle Perqukn MHDC I2.￿) (SS755) 5,327 I?3.￿ 3. {4.614) 391) (4.268) 1401) 31, 19.9n 4,437 177 1.701 3.878 732 18.471 {32,923) 2.742 750 140 2,742 521 125T) (140) 12211 {1.350) (174) 1400) 110 Ayrthfor8hwe thunty Councl11)- rnstyj￿ of grnnl fortiidtsng 8ThJ 8uslainwy prc48cts k7rce8Wire County ￿j￿1<2}- try￿r￿S trainYwJ lyw youth worftw Level 2 ce1b￿bOn COMF {MHDC Communty Fund). reswjue ofgranl ttrw4rds ff*ntOsing d 8eu)ndwy xhocA students. HAF (Holiday ktivty Food FU￿)- three grants 8¢*wl holmlay activi￿ and food ZX LhJarn- for chri8tma8 hanw and activi￿$ forfamll88 in D National Grid C(xnmunty FwKI- mklue of fDr cwc(pJ skil& knthn and WW4X￿1 Austin 8nd H(ye-for food 8rn1 bes8ons Public H8atth ErKJl8TrS Youlh Support G￿t (th￿ MHDC) . ts sé(y)nd y(yJth cafe. and w>gramme8. (grant beca1￿ unrestrthj when dtstrrbuti￿ transferred to in t)ec 24) Youth MU￿ Tr8llJlazer Fund- for rnu￿ ￿111￿ and inthiments Youth Investsnent Fund (1)- for tennts tu￿(￿ in 24r25 Youth Investment Fund (21- for bell￿ in 2025 Sevem Art8-for aioint MUS￿ pmiect Wbth Cube Y Elmby Foun(ktion-for a branded gaz8LK>for funt*8i*'ffj e4 MHW. kn taxis to, and'safe space. wry4151￿ a( the Youth C 18 MALVERN CUBE PROJECTS NOTES TO THE FINANCIAL STATEAIEpirs FOR THE YEAR ENDED 31 MARCH 2025 Tesco Actmties for Al- tthvards sumw h• activit*s and f(K*J Ravoth'on Gym- a pool tab 14 An•tysb of Not A#••t• B•i**￿ Fund8 Fund bal&￿e3 at 31 Mwch 2025 ar• Tangtt)le A88ets Current A48etsllLlabilitles) 1.161 18.100 81.0 64,151 19239 83,3 15 R•l•t•d P•ity Tf•nMclkn The partners. Mafvern.Youth and Communty Trust IMYCI) arAI Hils DIst￿t c￿nCl {MHDCI 8upplnd tho ffy¥owing tru8to9s to thg Ch•: C E Bonnvjn (MYCTI M CINKk {MYcr) 8 Nithn (MHDC) Mawn Cube Projects p•d £13.120 to MYCT for rert and £2.733 for its to thln aThJ IT je1v￿e8, matheling and Cons￿*)186 8h8red with and pakl for ty MYCT. P4e 19 MALVERN CUBE PROJECTS NOTES TO THE HNANCIAL STATEMElffS FOR THE YEAR ENDED 31 MARCH 2025 18 8t¥t•m•nt of fina￿1•1 actrvlll••- yior y Total 2023 fund• 2024 Donatiorss and grants Investrnont inc(yn8 Ch￿rta)I& ¥b'¥ities 41.046 851 5.819 92.982 134.028 851 5.819 114,690 1.926 Tot•1 Incom• 47.716 92.982 140,898 118.882 Exp•ndllur• on.. Charlthle activit 51,384 79.80S 131.190 91,223 N•t Incom• forth• y•arl (3,868} 13.176 25,459 Tftn•f•rn 12,810 15.445 (12,810) 58.354 73,799 48,340 Fund b•lanc•• at 1 AyH 2023 Fund b•l•nc•• at 31 M•vch 2024 24,587 58.720 83,307 73,799 P>Je Xl MALVERN CUBE PROJECTS NOTES TO THE FINANCIAL STATEMEKrs FOR THE YEAR ENDED 31 MARCH 2025 17 Donakn- prlory••r Total FundB Fund• Don&￿0￿ and Gr•nt• 15,fYXI 15.(KN) 12,279 5.195 Vlorcestershire County CwKil COMF thru MHDC Youth Investment Fund 51,80D 29,470 12.279 5.195 125 125 MHDC L{￿1 Glvirva National FourKlath P08itive ThwJht HoJKlay ActNity FurKI (HAFI 15.318 15.318 15,405 15.405 13.168 Tumer Trust NatioTrd Grkl Community Fund Puts1￿ Heamh ErYJ&rKI1lhrough MHOC) Ccxnmuftty Fund Eveson Twst Arnold Clark We¥lem Power MHDC YcNJth Fund MHDC Warm Spxes Fund Malvem Theatro8 V¥trf)dward Trust. Platform Hou8ing Vvmstershirg Communty 2.04S 2.045 30.(NJ) 10.000 1,000 5CM) 4CKI 250 750 750 215 215 337 41,046 134.028 114,690 PaJe 21 MALVERN CUBE PROJECTS NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 18 Ro8trl¢tsd Fund•- prior year 1Awl IwAxnlty Ilwourc•• 31M•rch 2024 Youth In￿Strnont Fffid Ev￿on Trust Holiday Acllwty FuThJ (FIAF) 8.815 (8,815> {15,122> 150 c￿2.￿} (l3.S￿l (3.122) (10.7 15.4(KS 12279 5.195 15.318 43.312 19,977 4.437 COMF Yothh klu6lc Trdlblgzor Fund Po8itk4tg Thoughts Wor¢e8tershlre Cofflmurty F￿1<1) N8Uonal Grld Communlty Fund Publt H•alth Engknd Ilts IAHOCI CLA Corrffiunky F￿j Woo(frw8Td Tnwt Award$ For Al (Blg Lottwy Fi￿) 3013 14,X19) <1201) (11.529) (2.lJ) 17501 1045 1Q471 750 720