MALVERN YOUTH AND COMMUNITY TilUST (MALVERN CUBE) (CHARrrABLE INCORPORATED ORGANISATION ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 IAARCH 2025 Charlty Re9lstratlon Number: 1166088
MALVERN YOUTH AND COMMUNITY TRUST (MALVERN CUBE) YEAR ENDED 31 MARCH 2025 CONTENTS TRUSTEES, REPORT 14 INDEPENDENT EXAMINER'S REPORT STATEMENT OF FINANCIAL ACTIVITIES STATEMENT OF FINANCIAL POSITION NOTES AND ACCOUNTING POLICIES 8-18
MALVERN YOUTH AND COMMUNrrY TRUST (MALVERN CUBE) YEAR ENOED 31 MARCH 2025 TRUSTEES, REPORT The Trustees present their rewt aThJ accty frjr the year end1 31 March 2025. The aonts have been prwed in accordan wilh the accounting poli¢ies set c1 in Note 1 to the accounts and ¢omKAy with the CIO'S conslilution, Ihe CharitKes Acl 2011, arxl 'Ac(tMJniing and Reporting by Chariti68: Statement of Rec4)mmended Practice appli¢at4e to charits preparing their accounts in accordan wilh the Flnan¢kql Reportiro Standard ap1)10 in Ihe UK RepLttJlc of Ireland IFRS 102) Section 1A small entth'es (from 1 January 20191.. ObJectlv• and actMtI•• Mafvorn Youth and Comrnunty Trust Imycfi was sel up in 2012 aft" r rt oblain&d a long term183 r>n a form8r youth cenlre. Service to kKal young peoF4e was a conon of ttslgase. and along$ide bulldlng a centre for the community, this has rernained part of MYCT'S viSn and purpose. Its aims and 0eCtIv•S arè to b6nèfll the r8sK16nts of Malvem and the surrounding 8re8 by provM'ng faulib.es and opportunitiès whith promota so¢lal womare. educalK)n, recreation and leisure tsme o(XUPBtion, IrKgudlng provisiM for ycyjng peoplo. Slnc6 2016 provision for youNJ peop4e has been led by a separate sistsr charity maern Cut Projects IMCPI. MYCT and MCP'S objectives are realised by worknno In colat)ratM)n with tho resmlents and the local authorilias, vduntsry a1 olhar Organat1Jns. MYCT'g princlpal lunction is lo facilitste and provhl8 spac and OP[unItieS for Ictal residents to com8 tog8lher arKI shara a feelng of community thrcwgh opwaling a cwimunity and arts centre known as MatV•Tn Cub9. Hare Ires rooms al afftJrdabl6 ralgs to communlly and support groupg in Ilne wrth Its charttablo oLSgCtfves.11 uses Its Ihealre space to promote arKI arra98 p•rtmrKe of many tyffts. the devekynent of which h85 been H key focus initiated in 2020 and 'nUing ever since. It has a (zfé hxatgd in the centrg of the building provhJirrfJ food and drink for th• Cub8 users and the gen•ral publk. MYCT )UrageS rKreallon through Sp1, leLsure arts. craft arKI wdlb9ing actwibes. It hosts a youth dub 8NJ provJgs rooms lor delivery of education and IrainirvJ. Publ1¢ B•n•fit The trustees conslder that thgy have comF4led wlih the duty 4 of the Charrtles Act 2011, In havlrs duo r8gard to putjic bènefrt. Aehl•Yom•nts and perfomwne• Thè perform¢• of Malvem Cubè ha8 contlnued lo improvè trAon9 from the effects of the Covid pandèmic and hiiing rates hav8 r8lurned lo w&pandemic16vels. Th8 avents progrdinme has also axpanded wih a div8rsa rangè ol perfOmanc ond pfvate hire ev&nts. The caté al the heart of Ihe Cube continues lo provide a warm and welcomlng space for Ihe contre wtih affordable rU wKing and Fow enviionmental ImpacL11 ha8 maintalrd Its 5 stsr hygl8ne rating. Hlr•r• •nd group• Thè Cub8 h8s conlinu8d to do what li was set up to thi- ara rthv providing S¢t over thity regular community groups to meel 8 diverse raroo of reds, from tmmobng we81n9. proM¢Jing cc4Jnsalling, supporting thg 8rts, trainlng dogs 8NI r8paidng broken cA4ects. The MYCT sister charity. Malvem Cube Projects. now brarwjed as Cube Youlh. ho$ hwsed the rar@• of actfvitles provlded for local ycmjng peoFlg frorn its at Cube In March 2025, rBgular hirpr. Mafvem BbJ 88nd, put on an evenry of entortainmBnt to raisg fuThJs f( Thè Cube. Events and •ctivit There has b99n a rich bland of events and aclfvit8 in ITh with our Perfonning and 1¥18$ Strydlegy aTr Voual arts hav& been supported by the appoinlThnt of a visu arts vrknieer.
MALVERN Yoimi AND COMMUNITY TRUST (IAALVERN CUBE) YEAR ENDED 31 MARCH 2025 TrVSTEES' REpoRr Strange FubJio$ devised perfonar. The Bare Hdr. invc4ved profossional and ¢ommuThty perfom)ers and small chotr to bring lolrfg the thararters of the Mavem H11 fs Ihrough 8 unique bler of physcal theatre, animation and puppety (May 20241. After lh8 SUCC of Sevem Art's first Line Up F8stNal in 2023. th8 Snd Festival tcd( plac6 over ts¥o days In August 2024 showcasing a Wdriety of music fc¥ins and kw1manceS At the same time local arb'st I¥ maxwe1kJes wj th8 Cube to exhibil his palntlngs as p8rt of Worcestershir• Open Studios. Thg Cut pmvlded the base for two s¥Jnrflcant annual events in Novembw 2024.. Reacts'on Theatre's eightr) annual FEAST ftsslNal of theatre twought the Cube to life wllh wonderful variety of perfomiances aryj woikshop8. including Lost Dog Thealre's PaFadi8e Lost hlafvem Green SpAeè's third'Sustainabi6 Fashion Shov/ indud8d dramatic In1ude8 hhldh1Ing issues like thild labour. clothir¥J wasle, and tKAlution. The Cube COntind to promot8 its own music thèatre events- Last 8aguètte'8 'A nterfs Tal, charrrd young audiences in the run up to Christmas. Stafflng ar volunte•r¥ 202415 saw some slgnrfunl slaff changes: After fi've years as Cenlre Manager, Nicola TLtrreN1gft in Ocjobar 2024. Stsff and voluntegr8 h8lF¢d keep tho cu running Unt new Manager, M119 Ne4bYU start8d in January 2025 Much-velued c•relak•r Nell Angel 51ovAy •gsed hlmsdf ou¢ of th• rrAe. bul slay8d on to hdp IrKlucl now caretaker Anda Phlips sh& started in May 2024 Thg Truslees undwto()k a Tevlew of the roles grndes of Centr8 Manager aThY Adminlstr8llon Manager The Cub•'$ staff team now numbern 17. 8upported by 33 vcA4ttts8rn ac¥0 41 and Um68 ofday. Oov•rn•nc• Thg Risk Regk8ter Creotsd in the pre¥lou$ year, ¢x)nlinues to fxdllala the rogular revlow of rbks for Cube. Ri8ks ar8 RAG Ired. amber. grwl rn18d wrth mthgalkJn$ in F4ace where n8c8ssary. The Cub6 has a comprehertsive list crf w)Iici•8 and pro¢&lur88, whth are rwewed and upgaled on a r8guLw ba51y. IT r8quSromgnls for the Cube supwted by gn exlemal company ond during th1$ yoar there has bagn cPJarye from D&0 lo Ckd Top Techndogies. Improvlng th• Cub• We cx)nlinued to Improve Ihe Cubè's facllities and make thom 88f8r. Our gard8n vdunleers contlnued k) malntsin aTrJ enhance Ihe Cube's grounds. Their effort8 this yoar enh8ncad the lawn area bohind the Ihg8tre through the installatth of new planting We undertook extemal revpointing and paintiw an¢J derttsd th8 foyer sp8ee to the theatro wlth Some stunnlng colours We reF4ac(I decawng timb4YS in an extern ramp &¥tsmal solar powered lighting Illuminatw pathwAys Flnan¢lal R•view These 8ccounts have been prepfjreu frthe financtal year endwu 31 Mar¢h 2025. Th8 res for the year was a surplus of£4,476 (2024- dthit £5.305}. The amount of ieserves as at the balar shget date aThnted to £228.146 {2024- £223,670) Including restricted funds of £78.680 (2024- £71,159). Free rfrserves. which indude5 unreslricted fvnds after elimnating tsngitle fixed ass8ls arTh)unled io £116.1)(2024- £1Lkg.4321.
MALVERN YOUTH AND COMMUNITY TRUST (IAALVERN CUBE) YEAR ENDED 31 MARCH 2025 TRUSTEES, REPORT As already noted, the hlrlng Ve1 was ba( to pTrpaThJemk levels. and was reflecled In hlre income neSy hfjlpgd by a smal Ine858 in hwrly room hire rotes (the fiTrl irKreas• in 6 years). Th9 c8fe, wh provides fhe.beatir heart, of thg centre. as well 85 Supporting various events, managed to cover its direct costs of food. drink. cortsum8bJes. and staffing. The ev8nL% It11¥0S. 80 as vioUsly noted, took off this year. incr&ising revenues and containing costs to ¢onlribLrte massNdy towards our general overhead8. The Cube's financial $tratègy ralls for ils operatrjna costs lo bè mgt by oporional cOM&. vthich in m&ans from hldng space. njnnlng the cafe, and hosting events. Hislorlcaty. thls h8$ not often happened. vAth shortfa118 made up by gen¢rous tJL¥th'ons from IL)¢al organisatitins and benefactors, enabling us lo keop our ralos at level8 the whde communty can afford. Wo therefor6 acknLiwlèdge vAth grnleful thanks the donath)ns trom lh8 Brand Tru8L the Ha1 Chadlat4e Trust, the Mafvem Hills Communty FoUndaOn, The Ctroperallve Communty Fund, ar 8everal smaller donors. who befvfftn them have enat4ed us to supwxt the physic and meni81 well-Ing of a varlety of users 1hr(h our ccmunity room rates café. Tha net 8ffect by the end of the year was an op8ration 8ufF4uB, aThJ a healthy bank b8Lgnce at year 8nd of £120k (up from £104k a year eartrI of 1th £30K {up from £20K tl year before) r86ided In our 'rainy day, re86Ne &¢JnI, thus meetlng a stralegc obleth? of maintsining a resoNe fund equivenl lo 3 months, 8xpenditure. Rtsk mnag•m•nl The trustee8 both dlro¢1ty and Ihrough Iho Centre Man•Jer conduct on onolng proc¢sg of risk asse5smnl In every area of the Cubg's operational lifg. In addrth)n to thg ¢featb)n of the Rlsk Register des¢rlbod abov8, the pollcy on Risk Management vtas VieW0d. along with those on He8th arbj Safgty. Safeguardlng, gnd Finance. Al other pc4icie5 are part of an on4J(MThJ Syslem of regular pwbdic review. Structurn. G0ManCe Ind Manag•m•nt Mdvern Youth and Communoty Trust vthl¢h runs Ma1vgm Cub815 a Charitable In¢pOrated OrgatiL8alknn, chartty registration number 1166088. Its conslitution Sets out its govomance through a lThrd of trustees. definiw thelr dulles 8nd they shoukl eondud Ihe iyjslness of t charlty. The trusté88 delegatè the day-ttrday management of d)8rlty to th6 Centro Manager IMB. NicoFa Turrelll vthose r6muner81ion they rwew regularty. NO of th• truslees h89 any llnanc4al or tjenelkw Inlorest charfty. Log•1 and •dmlnlstraYv• Infovm•th Thg Charfty ReglÈtration Number. 1166088 Regisléred OfficA.. Abert Road North, Malv8m WR14 2YF Tnte8830i at 1 2024 WKI 31 Mar¢h 2025. and c*anw up I) slgnlng ofthls report.. K Humphries C Bennion M J Chuck (r8signod 21.11.24) J Cross C George R Christie (resigned 21.11.24) K Prlce lappoint 18.07.241
MALVERN YOUTH AND COMMUNrrY TRUST (MALVERN CUBE) YEAR ENOED 31 MARCH 2025 TRUSTEES. REPORT J Hughe5 L Adkins lappointed 21.11.24) S Ford (appointed 21.11.24} Secretsry.. R Chri$lielL Hugh8$ Treasurer. K Prfce Ind8Fxndent Examiner.. Elizab8th Eyre FCA Elizabeth EyTg knmited, Bank Stre81 Bu&ngss Centre, 6 Bank Stroet, Malvern WR14 2JN Appolntsn•nt of Trt••8 Thg TnJst888 rOgnIse the need fly 8trcfflg ar¥J effethe governanc•, and tfor6 th8ly recruit suitable new memb8rs to jcxn th8 8oaTd of Tru8t888. to provide th8 conllnulty. knryAed9è. experl8ncè, wisdom and commitment necessary lo run the charity aely. Statsment of Tru•toes' RMpon•lbllltle• The Tst are responsib f(Y weparing the Trustees. Report and the accounts in acc(d8nce with aPF4icablo law and Unil&4 Klngdom Accounting Stsnd8rds (United Kingdom Generalty Accepted Accountino Practice). The law appllcable lo charib'eg In England and Ws requires the Trustges to Wep acc£Junts for each financtal year which 9fv8 a tnJ8 and falr view of the slat8 of affa*? of Ilb8 CIO and of Iho Mi¢oming ¢8Bourcos and aPIcation of resources of the CIO lor that y8ar. In wep•ring these accounts, the Trustees arg rgquir8d lo: 8elecl Sur8 a¢Unting FK4icies, aThJ 8pfv4y Iham con$istsntty; observe the methods and principles In thè Chariti&s SORP,. mako judgm$nts and oslimatas thal are reasonatle and prudgnl: stsle whether sp$1& UK Accounting Stsnd8rds have bogn folowe(1, 8ubJect to any matortol d•partur&8 dlsdosed and eXOIn01 In the accounts: atvj prepwt Ihe a¢Unts cfi the gcrfng coreM basls, unl88S it is inapprwriate trj presume that tho chwty in opernlon. Th8 Tru8t888 are resp(ble for keeping woper accounliNd re¢ord8 that discloso reascrt)able accuracy at any tima the financial position of the CIO, and enabfe thgm to 6nsur8 that accounts compty with the Charitias Act 2011, the Ch8Iity IAcc(wnts and Raportsl Regulations 2CQ8 and th8 provisK)ns of the Injst de. Thèy we abo rèsponsllAe for safaguarding the assets of tho CIO. aThJ h•rth for tsking wsonable slaps for th6 prèvonlbn arKI dgleclion of fraud and other irreou18rities. The TTusl¢¢$ are respcM)sible for the Maintenare and integrity of th8 norFllnancial and flnancial infomiallon induded on the CIO'S wèbstte. Legislation in the Uniled Kingkn govemtyw the preparation and diss8mination of the aro)unts may dThr from18glsfatkn In otheriuvlsdlction On of fv Trustees KPrl Trustee 2025
MALVERN YOUTH AND COMMUNrrY TRUST (IdALVERN CUBE) YEAR ENDED 31 MARCH 2025 INDEPENDENT EXAMINER'S REPOFrr TO ThE TRUSTEES OF PIALVERN YOUTh AND COMMUP4TY TRUST IMALVERN CUBEI I rgport lo the trust88s cffl my eXarnInatK of tha •xtsJnts ot the ch&ity tho year endad 31 Match 2025. whlch are set out on ge5 6 to 18. R•spOn$lblm and bosls of r•wt As the Char'S Iruslees, you are respffislt4e for the preparatkn of the accounts In accordanc6 wlth tho requirements of the Chanties Act 2011 {'the Acr}. I reF¥Yt In respect of my examlnatoon of the chartys accounts carfed out under sectlon 145 d the 2011 Act and in carryg out my ex8mination. I hav8 fdlow8d all th8 applicabi8 Dir8ct)ns giv?n by the Chartty Commissk)n under section 145{5Mb} of th8 Act. Ind•p•ndont •xamln•V• statsm•nt I have comrA8led my 8xamination. I confim that materkn4 matters hav& com8 to my attention in connection with the ex8minatw wthich glves me cause to believe thal in. any malerlal respect.. the accounting racords not kept in accord8rKe with sethn 130 of the Charities Act,. or Ihe accounts did not accord ilh the accounlirwJ records.. the acLounts did not cOmY with the appllcatle requirements conceming the form and Gontent of accA)unts sel oul In the Charities (Accounts and Reports} Re9ulalws 2008 other than any requirement that Ihe aUntS give a Irue and farf vi8w which a matter cS18red as part of an indeperKient exaffllnati. I have no concgm8 and have ce au0$8 no Otr matlers in conneclion with the éxamination lo which attenllon should be dr8wn In thls report In order to gnatrAe a prowr understanding of the aco)unts to bo rgathgd. Ellzabeth Eyre FCA Ellzabeth Eyre Limlt•d Bank 8tre•t Busin¢$J Centr• 8 B•nk Stre•t Malvorn WR142JN A1CveL¢f2o25
IIIALVERN YOUTh AND COMMUNrrY TRUST IMALVERN CUBE) YEAR ENDED 31 MARCH 2025 STATEMENT OF FINANCIAL ACTIVITrrES Ilncludlng Income and frxpgndlture account) UnroStrk1 R¢strlctsd Ful5 Fund$ Totsl 2025 Total 2024 INCOME Donallons and legades Charitable aclNil Other income Investments 5.459 215,101 23,653 29,112 215.101 26.T85 194,741 1.828 1,828 1,202 TOTAL INCOME EXPENDITURE CharlIae adNllkrys 228,69S 12.870 241,565 228.033 TOTAL EXPENDITURE 228.695 12,870 241,565 228.033 NET INCOMEI{EXPENDftURE) FOR THE YEARI NET MOVEMEKf IN FUNDS <6,3071 10.783 4.476 15.30SI TOTAL FUNDS BROUGHT FORWARD 152.511 71.159 223.670 228,975 TRANSFERS 3262 (32621 TOTAL FUNDS CARRIED FORWARD 149,466 223 670 Tha slalement of finandal tivI•S indudes all gains and losses rwnis•d In the year. JI inct>mè and oxp8ThJilure derive frcrfn ccffltinury actwwbs. The notes cffi pa 8 to 18 form thes8 fv)anda ststements.
MALVERN YOUTH AND COMMUNrrY TRUST (MALVERM CUBE) YEAR ENDED 31 MARCH 2025 BALANCE SHEET 2025 2024 FIXED ASSET8 Tangible assets TT.370 104,018 URRENT ASSETS Stock Debtor8 Cash at bank In hand Tolal current assets Creditr)rs.' amounts fallirvJ due wilhin one year 3.075 4,627 148,270 1S5,972 {5,196) 2,399 3,080 120.364 125.843 16,1911 10 NET CURRENT ASSErs 1SO.776 119,652 NET ASSETS 228 146 223 670 FUNDS Reslrictgd fvnds Unreslrietsd fund8 13 78,680 71,159 152511 223 870 Th6s8 awcwnts wwe approved by the Tw81& on Lo , 2025 and slgned on their hholf ty: K Humphrt•$ Trust•e K Prlc• Tru5te• The notss on pages 8 to 18 fcvm part ofthese finaxial ststements.
MALVERM YOUTH AND COMMUNrrY TRUST (PAALVERN CUBE) YEAR ENDED 31 MARCH 2025 NOTES TO THE FINANCIAL STATEMENTS 1. ACCOUNnNG POLICIES Company Inf¢)mwtlon Malvem Youth C(nmunity TnJ8t IM8lvern Cubel is a Charitat4e Incorpcyated Organisation. regist8rad offi¢e is Ajbert Road North. Malvem, Worc8ter5hire. WR14 2YF. a) Basls ol Ac¢ountlDg The atUnts hava been pr8par8d in acoyd8n¢e with Accounting and Reprb'n9 by Charitw.. Statsment of Recommended Practice applScable lo chariues preparlng tholr accounts in acD)rdance wlth tho Flnancial Reporting Standard apleal in Ihe UK aThJ Republ of Ireland IFRS 1021 lèffectNe 1 January 2019)- (Charilies SORP IFFiS 10211. tl Fin81 Reporbng Standard appluiqe in the UK and Republic of Ireland {FRS 102). Tho CIO méèts the d8finltith) of a public b8nefft entity under FRS 102. The èccounts h8ve been preparetd in slerfing, which bs the funonal of the CIO. Monet8ry amounts In these accounts 8re rounded to the nèarest £. Assets and lIale5 are Inftlaly recognisod al hlstorte41 cost or transxuon value unloss olherylse statsd In the r¢l•vanl ac¢)Junting w4i¢y notelsl. b) InrnIng R••wrco• Incomè 1$ recognts8d in the Slalement of Financial Active9 when the CIO has an enlitlomenl lo the fvnds, any Ferfomance condklons attached lo the Iteftrfsl of kncome have bo•n met. M 18 proba• Ihal Income wll be rel¥Sd an¢J can measured roliabty. ash (lonatk)ns arè recogn130d on rtcelpL Other th)natknns are recognlzod the CIO has bggn notmed of the donalB)n, unsS p8rfcffiian¢g CondthOr requirg d9ferrd of the amourrt. Inrn tax rgcvvgr8blo In relation lo donations received under Gift Aid or d68ds of covenant is rncognisad al the ltsne of the donation. Legacies ar8 recrynised on Tgceipl ¢y IAh8TWi$g il the CIO has been nOted of an Impending dl¥tribulion. Ihe amount is knchvn. and re¢eipl is exp8Cted. 11 tho nI is nol kJ)own. th8 acy 1$ tr981od 88 a conlinganl ' a55el. Rent receivgd4n advarth ft* the hirg of rwms h88 been doferrnd lo tho period in which the rent r81è188. cl DoTratsd s•rylces Thg value of ser4$ provhled by vohjnteers h88 t been Iruded in inc(Th. d} Resourcès èxpended AJI expendhwe Is Includ8d on ac(xual8 b8s& and h88 been d•ssrfled under haadkngs that ggfftale 911 costs re19t to thal calagory. Expenditur8 indudas ary VAT which cannot b8 recovered. Exp8nditura is dassrfled undor the fdlowing aCtity headiros: ExperKliture on charitaL4e activthes. CharilatAe expenditure cornprises Ihose costs irKurTed by tho Gharity in the delivery (rf h8 tTtle3 aThJ $grvic8s lor its bgnaficiaries. It inchJd8s tKslh that can b8 allocated diroctly to sh activities 8ThJ Ih)sp costs of an indirect nature necessary to SUPE them. Cr8dilors represent tho amcNnt the tharrty anbupalos il wl pay lo $8tU8 a dobt or 8 proM8ion lor goods and serv8 tt ha8 received nc yet knvoiced. rr£asur8d at 59ttrerrI amount •) Allocatlon of $upport Supwrt ts)sts are thos8 lunction5 that assi£1 Ihe wort of th8 ScKlèly but do not dir&cify undertake ' chartiable actNilie$. Support costs indude govemance costs which support the SDr4ety's activitEs.
MALVERN YOUTh AND COMMUNITY TRUST (MALVERII CUBE) YEAR ENDED 31 MARCH 2025 NOTES TO THE FINANCIAL STATEMENTS Flx¢d A55ets TarvJible fixed assots are irmlially measured at O)St and sub8equentty meawred al c¢sl or valuatrn. net of deprwatton and any impaiment h)sse& Deplat)n is recoJni88d 80 as to wtlle oly the 0)sl orvduatth of assets th$ their re51th valuos 0r thelr useful lives on the fdh)wing bases: Propety imwovernents Comput8r eQpMt Decknng Tolets Furniture and 8qulFrrt Kitcen 10% on cost 33 113% on rmt 10% on cx)5t lO%¢t 25% on cost 10% on Th6 gain or loss ad81ng on the dis[ of an asset 1$ détèmin&J as thè dlff8rènc8 betweén thè sal8 pred6 and the carrylng v81ue of the asseL and ts recwised in net 1ncomel{expthr0l for Ihe year. g) Impaimi•nl of flx•d a8S•t• Al 68ch reporting end dale, the CIO reviews th• carrylng amcljnl of tts tsnglble and IrrtarYJltrAe assets to determine ether Ihwe is any inditatic that ilwe assets have suffered an impairrnenl loss. If any such indication exists, the re0)veraV amount of thg a88et 18 e8b"mateJ In order to d8twmlne the extsnt of the impairnant loss Irf y). Recovaroblg anv)unl Is Ihe hlghgr ol fatr value less costs to s•1 ar vahje in u¥•. In 8s$088lng value In usa, Ihe eslimaled future cashfl¢M are diSontO lo Ih&ir present valua u&ng a pro-tax discount rale Ihal reflects current moikel assessments of the time value of monoy and the tisks sp9crfic lo th8 a&8el for whlch the èsumates olfuture Cash IIow5 have not been adjusted. If thg rfjfx)verablé anurtt of an asset is 88timaied to b81888 trrt b coffylw 8mwnl. th& carrying amount ol th8 asset is.reduced lo il¥ T9¥0bIe arrjnt An impairm1 Is recowised imrn8dlately in incomellexpgnditurel for the year. unle88 the relevant 8s38t is carried at a revaluod amount, in whNth c85e tho Smp8irnenl106s is troai8d 8$ a revaILOn d8crea80. Rocognlsed Impalm)ert losses are Tevers•d 6f, 8ThJ olty If. tho r00SC fty the Impalrment 10s8 have ceSd to apF4y. Where an impairment 105s subsequenty reverses. thè carying amount of the asset is In¢ased ¢0 the Vised gslim8le of its recover¥L4e aftUnt. but so thal the Incxeased caryng 8mounl Lkns not exceed the ¢8rythg amount Ih8t would have been determined had no impaim)enl loss been recogt)ised lor the asset in prw)r years. A reversal of an impaimient is rewJni5ed immedidy, unless the levant OS8el is c8rri8d in al a ravaluad amount. l bthlch ca86 the revers of thè imp8irment loss is tseatèd as 8 revaluation incr8a$g. h) Stock Stock18 81 th8 lower of cost and nel realis8& value. Cosi is compulad on a first in firnl tsui ba$b. Net reaLsoblg vu& Is based estimaled selllng price less ests"matsd rp351 of dlsposgl. 11 P•n$lo The CIO olso opetstes a 8drr* throLth NEST in aCrdar wth thè Auto Enrdm8nt regat. JI Fund xcounting .UnrestrlcteiJ ftjnds are available fr)r use at the dwetlon of the tsu5tees In furthoranco of the gèneral otlectives of the charity unths Ihe fvnds have been deSigrted fw othor purposes. Restricted ndS are subjected to reStrfctko on their expendibJre Imposed by the donor or thtough the terrns oran appeal. Endowment fund3 arg subjed 10 8peC( coTrJilNJns by donors that tho cawtal must be maintained by the CIO.
MALVERN YoirrH AND COMMUNITY TRUST (MALVERN CUBE) YEAR ENt>ED 31 MARCH 2025 NOTES TO THE FINANCIAL STATEMENTS k) Int•rst r•¢eivabl• Interest on lunds held on dewsit is Induded when reoNable and the amount can b8 mgasured reliabty by the So(¥ety; this is nomidly upon Th)lrfubon of the interest paid or payable by the Bank. l) Employee benefit• The Cost of any unused hol¥Jay enlrtlement i% recognised in the period in whicth the emtheo's SeIC¢S ar8 received. T8rmlnatK)n benefits are recognised immedlatdy as an gxpense when the CIO is d9morkgtr814y committed to t8min8te the en¥4oyinenl of an eMp0Yea or to providts terrninati¢M bonofft5. ml Flnanelal Instruments The CIO has elected to atwy the Prov)rts of Sth 11 'Basic Financial Instruments. B SgctDn 12 'Oth8r Finandal In8trum8nts Is8ue8' of FRS 102 to 811 of its finanual In8lnJments. Financ1 instruments are recognised in tr CIO'S brKe sh86t wthen the CIO btrcomes paty to thè COnClUa1 provW¢Jns of the InstrurnenL Flnancial assets and liabillues are offsol, wmh the nel amounts presente(I In the financ481 ststemonts, vthen there 8 legalty enforceable rvJht to sot off the roGognJséd amounls and there an intention to seldg on a net b8818 or to rn158 the assgt arwJ 80th the lialty sThUllanesIy. Basle fiNnclal ass•ts Baslc flnanclal assets, whlch lftdude debtors and cB5h and bank balanees. ar• Inltl4ly rneasured al transacon price indudino ts3nsacliw c(k8ts and ar8 $utysoquentiy carri8d al amortlsod c¥)sl using tha eflodive interest method unless Ihg aangemnI corBtttutes a flnandng transacllon, whgre the Iransaclion Is me8SUTed al the present value of tho fijture recelpts dlscounted at a markel rale of Irrterest. Flnancial gssets da88rfth as receivable thin 01 year are amortlsed. B•$l¢ finJnclal Il•biiiei•s BasK fingn¢ial li8ly.lilies. in¢lu¢Jing Credito and bank loan5 are InallY recognised at trans8Ction pftce unl888 thè affangem8nl constitutes a financing transact)n. whare the d8bt instrumenl 18 mèasured at the presenl value of the future recelpts di8counted al a markét rate of interest. Financial Ilabili1108 dassffièd as p8yabl wlthin ont year are nol amorused. Oeb(Instruments 8re wb8equenUy c•rrd at amorttsed cost. uslng the effecilve Intergst rgle m8th0d. Trade ¢rodit5 are obligatiLW to pay for or services that have bBen acquired In the ordln8ry course of operalh)ns from SUPF4iers. Amounls payabl8 are classified as C9n¢ 118bilities paymnl 1$ due withln one year or less. If n. they are presented as non-current liabilittes. Tradè creditors are rtcognlsed inllalty al transactlon wca and blnOY measwed 8t 8mth"8ed c4>st usirwJ offective interest rYtrK)d. Derncognlllon of flnancw Il•bllllles Flnancial liabilities are dwecogntzed when the CIO'S conlra(aural dAigatims expire or are discharged or canrlled. n) Prnparatlon of th• accounts on a golTrJ conc•rn basiy At the tiff of approwng the accounts, the Tru51ees have a reasonable expgttalion that the CS0 adequate rfrwurc*s to conllnue In Operatic eyJst•nce fDr the fores8oalle fubxe. Thus the Twstees conttnue to adopt Ihe golng roncem basis of accounting in wepartNJ the accounts. 10
MALVERN YOUTH AND COMMUNITY TRUST (lslALVERN CIJBE) YEAR ENDED 31 MARCH 2025 NOTES TO THE FINANCIAL STATEMENTS o} Cash and rash •qul¥al•nls h and cash equrvalenls indude cash in haNI. depw.ts hehj at (all banks, other short-tgmi luld investm9nts with original maturities of Ihfye nnthS or less. a1 bank ovefdrafts. Bank overdrafts we sh¢y•Yn within boThowings in current liabilities. I ANALY818 OF INCOME Total 2025 Total 2024 funds funds Donatlom and legacl• Donation$ aNI gifts Donatlon• and 91ft8 Bransfd Twst Bemard Sunley Found8t6on M8lvem Hills ConNnunlty Foundallon CeroperatNe Soaaty Communlty Fund Malvem Hi115 Brass Band CC Men's Shed Wailrose Community Fund Hawthomo Charitable TnJ5t wcc Malvem Hllg t)Istrkt Cujncll Buggy Store Malcolm Vlci Malvern HIILry Di8lrKI Ccwncl Orchard project W¢)rcé8torshire Communty FiyJndatK PositN• ThcwJght8 U3A WCC Councofrtirfs Dlscrthn8ry Fund othor 6,500 6.500 10,¢X 5,000 4,120 1.406 998 375 1,500 11,000 11,OC 2,765 2,765 492 492 9)0 23 112 Ch•rStabh •¢tivili•• Salès thIn th&i18bl8 acfj'vilies 215 194 741 Invostments Interest recgfv8b Othw Income Other income
MALVERN YOLrrH AND COMMUNITY TRUST IPAALVERN CI)BE) YEAR ENDED 31 MARCH 2025 NOTES TO THE FINANCIAL STATEMENTS ANALYSIS OF EXPENDITURE ON CHARrrABLE ACTIVITIES Cul1• Op•rating Total 2025 2024 Management staff costs Dspre¢ialion and impaim*nt Gas, dectricity and water Premisas, rgP8irs and maintenance Tdephone, broadband, postage and Stkry Insuran Advertising, putrAic relati¢MS and web Lkences 8nd stsbsuipli Other Projecl axpense$ Inter8s1 Events flm Equipment 28.122 31.450 10,369 28.122 31,450 10,369 29,9)9 33.374 31.224 8.084 24,212 4,538 2.916 2.157 2,516 2.456 1.619 1.200 2.763 7,907 3.038 2,916 2.157 2.516 5.058 655 874 Café staff Conlracled sorwcgs F¢)od and beverage 43.356 49.650 25.824 236.520 43,356 49,650 39,118 42,304 236.520 224,980
)vamance ¢o¥ts I note 4) 5,045 5.045 3.053 TOTAL EXPENDMIRE 241, 241565 ANALYSIS OF GOVERNANCE COSTS 2025 2024 L8g81 ar¥J other wofessional fe8s GovematKe o)sts irthles payment of £1.$36 (2024- £1.482) for i)d8paMlenl exafflati f. 12
MALVERN YOUTH AND COMMUNrrY TRUST IMALVERN CUBE) YEAR ENDED 31 MARCH 2025 NOTES TO THE FINANCIAL STATEMENTS TOTAL STAFF COSTS 2025 2024 Total wages and salaries Sockal serity costs Olhgr penslon cx)sts 130.460 1.110 1.229 132 799 98,478 492 1.136 Av•rago numbor •mpltsy•d Numbor Number Céntre Manwr Othèr Staff 12 10 No emFloyw eamed £60.0(N) wr ènr1 or mor¢ In th• rAJrrnnt year or prf¢x year. None ol the Tru818es lor any pérnons cclOd with Ih8ml roceivod 8ny r6MUn9raU and thm6 Tfttst808 worg rolmbursod expan808 lolaling £286 during th• yoar. I. NEf INCOME FOR THE YEAR Net Incomg i8.slated after thargiThJ'. 2025 2024 DepwalKJn 31.450 31.224 7. FINANCIAL 114STRUMENTS 2025 2024 Carylng amount of flnanclal as8et• Debt inslwments measured at aKlSed c06t Carrng •mi%mt of fln•n¢l•l Il•bllltles Measured al am¢)rllsed 13
MALVERN YOLrrH AND COMMUNITY TRUST (IAALVERN CUBE) YEAR ENDED 31 MARCH 2025 NOTES TO THE FINAMCIAL STATEMEKTS TANGIBLE ASSErs Fumltu and Irnpnw•m•nts Equlpment DKking Toil•ts •quipment Klich•n Total Cost At 1 Aprl 2024 Additions Disposa18 At 31 March 2025 235.157 5.593 2,050 10.821 48,039 4,802 8.783 310,443 4.802 O•prnclatlon At 1 April 2024 DIspos81s Chargo for 'lhe ytsar At 31 March 2025 142.727 S,593 2.050 10.820 36,453 8.782 206,425 Not l)ook valu• At 31 March 2025 At 31 March 2024 STOCK 2025 2024 Bar stock 10. DEBTORS 2025 2024 Trad• debtors Prepaym8nts and other debiors 2,806 2.261 14
MALVERN YOUTH AND COMMUNITY TRUST IIAALVERN CUBE) YEAR ENDED 31 PAARCH 2025 NOTES TO The FINANCIAL STATEMEKrs 11. CREDITORS: AMOUNTS FALUMG DUE IMTrIN ONE YEAR 2025 2024 P8ymen15 received ac¢tyJnt Trade credilors Ollw Creditors Acuuls and deferred Incwe 2.227 413 2,558 5,196 1,736 11 AP4ALYSIS OF NEf ASSETS 8EfwEEN FUNDS unrMtrlC Restrlcl•d Funds Fund Fund baanees at 31 March 2025 ar8 r8pre$enl8d by: T8ngibl8 fixgd assets Curyenl assets Currgnl liablils 33.316 121.346 15.196) 44,054 34.626 n,370 155,972 5.196} 13. RESTRICTED FUNDS At 31 March 2025 1 Aprm lfi¢omlng 2024 R••ourc•s Outgolng R•¥ources Trthnf• Wlndows and building fund Theatre Improvements Gardgn pro Grounds irnprovemts luThl Stranger Futures fund Boiler réF4ac8ment furKI Front tknr fund Flre damage fund Flre deaning lund D1s8L4ed tlet fund Green room fund Theatrè North Wall fijnd Buggy Store fund atlorm lift fund Brdnslord Trust Basketbal equipment fund Orchard projoct Worcestershire Communty Foundati 1.542 4,382 2,398 9,561 750 1,200 1.799 {1.212) (1,904) 132) (2.558) 2,478 2,366 7,003 750 (3001 (4491 11721 13631 13481 11041 1.350 516 1.015 1.511 312 1.378 1.859 416 4,120 39.660 11.O¢XI 1786) {3,262) 14,334 33,136 6,500 13.262} {5C(J) {880) 262 15
MALVERN YoirrH AND COMMUNITY TRUST IMALVERN CUBEI YEAR ENDED 31 PAARCH 2025 NOTES TO THE FINANCIAL STATEMENTS RESTRICTED FUNDS (contlnu•d) Restrthd donations reed during the year. Plarfomi Lift fund- North Wall lund- from Malcdm Wictcry towarts the p4anned renovati of Ihe Theatre's North Wal Tho Buggy Store fvnd- froffl MHDC. G8rden Projocts fund- for garden U)ntaIne ofKI equlpmenl Windows and Buildings fvnd- for extemal decoratK)n 8ask8thall equipment fun¢J - frC WCC for new basketWI Orchaftl Pro1t fund- from MHDC A transfer of £3.262 has ten made frcrfn tAakn lrfl rèstrthj lund to unr8strictwJ Thls rapresents th6 ttspr¢dalion charg8 In tho wior y88r. 14 CRITICAL ACCOUPrnNG ESTIMATES AND JUDGEMENTS In the aprAicatkJn of Ihe CIO'S accojnting pOIleS. Tfuslefjs are required to make judgements. estimat&s and as8umption8 atrN)Lrt the carying amount of assols and liabilities that are not raadily apparent from other sources. The eslimate8 and assoryaled assumptions are based on hi8tNical experi¢? and other factors that are considgr8d lo be r8lev&rt. A¢tU81 res(ts may frcrfn thes8 &5tirTTatOS. The 88timalos and underlwng a$sumptions are r9viewed on an ¢ygolng ba318. RSlOn8 lo acxountlng e$llmo1•s are recoww In the pertod In which the gstimats Is revlsed where tho ravbiGn affocts ClY trtal pèipjd, or In tho poriod of the rnmsion and bjturg porh)ds whore Ihg revigiMs affocts b)Ih current and fulurfr perlodg. 1& RELATED PARTY TRANSACTIONS . R•mun•ratlon ol k•y man•g•m•nt P•rnn•1 Tho romun8ration of key manag8ment personnel as knlcv*8.' 2025 2024 Aggr8gale compensat6on No guarantees have teen gfven or rn¢eNed. Rtlated p•rty tranctIonS DuHrbg the year Ihg tharity rewved of £13.120 arMI c0ntrfbuY for admin serylces of £2,733 from Malvern Cube PrOJts. 16
MALVERN YOUTH AND COMMUNITY TRUST (MALVERN CUBEI YEAR ENDED 31 MARCH 2025 1& STATEMENT OF FINAP4CIAL ACTIVITITES- prior yr Unf•strlctgd Rostrict¢d Fund Fund$ Total 2024 Total 2023 IHCOME Donations and legaci•s Charitsble adivities Other ir0m8 Investments 14.386 194.741 26.785 194.741 65.836 171,392 1.202 1,202 144 TOTAL INCOME 237 372 EXPENDITURE Charitable actfvltle8 220.100 7.933 228.033 224,582 TOTAL EXPENOITURE 220.1Q) 7,933 228,033 224,582 IEXPENDITURE)nNCOME FOR THE YEARI NET IAOVEME14TIN FUNDS 19.7711 4.466 {5,305) 12.790 TOTAL FUNDS BROUGHT FORWARD 159.22S 69.750 228,975 216,185 TRAN3FER3 3.057 {3.057) TOTAL FUNDS CARRIED FORWARD 1S2511 223,670 228 975 17
MALVERM YOUTH AND COMIAUNrrY TRUST (MALVERN CUBE) YEAR ENDED 31 PAARCH 2025 17. RESTRICTED FUNDS- fv y•ar 1 Apr• Incoming Outgoing 2023 R•5ourC Resour¢•$ Transfgrs 31 March 2024 Llghbng prqecl fund Windows and building fvnd Theatro Improvements Garden project Grounds improvemenls fLwbJ SlrBnger Futures fLtnd Boler reacement fund Front th)or fjjnd Fire damage fvnd Fire deaning ld D*8bled tol&1 ftjnd Gr88n room fund Census ratum support lund Theatre North W811 fund Buggy Store luThJ Slaff Apprttialion fund Hatfomi Ilft lund 17 2254 6.286 1,432 12.119 1116) 11.2121 11,9041 1321 {2,5581 99 1,542 4.382 2,398 9,561 750 1,200 1,799 688 1,378 1.859 416 1300) 14491 11721 {3631 13481 {1041 2.248 1,741 2.207 520 3.156 {3,156) 1,406 4,120 37b 1,406 4,120 1375) 39.660 933 12399 71.159 18