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Young Creatives Nottingham Charity Number: 1168804
Trustees’ Annual Report and Financial Statements for the Period 1 August 2022 to 31 July 2023
Young Creatives Nettingham Trustees’ Annual Report for the Period Ended 31 July 2023
Contents
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|Page|3|Reference &|Administration|Details|
|Page 4|Structure,|Governance &|Management|
|Objectives & Activities|
|Page|5|Achievements|&|Performance|
|Financial|Review|
|Page 6|Declaration|
|independent|Examiners|Report|on the Accounts|
|Page|7|Report|of the|Independent Auditors to the|Trustees|
|Page 8|Statement|of|Financial|Activities|
|Page 9|Balance|Sheet|
|Page|10|Notes to the|Financial Statements|
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Young Creatives Nottingham Trustees’ Annual Report for the Period Ended 31 July 2023
Reference & Administration Details
Charity name: Young Creatives Nottingham
Charity number: 1168804
Charity’s operating address: C/O Antenna Media Centre 15 Beck Street, Nottingham
Postcode: NG11EQ
Names of the Charity Trustees who Manage the Charity
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Trustee Name Office (if any} Appointed
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1: Andrew Tucker Chair 2020 2: Ann Priest 2015 3: Jeremy Brown 2022 4. Adunola Kenogbon 2022 5. Joanne Belton 2015 6. Rohan Patel 2022 7. Hannah Newton 2022 8. Nigel Cooke 2015 S. Sharon Walia 2020 10. lan Roderick Burton 2022 11. Kate Wand 2023 12. Mike Khouri-Bent 2016
Names & Addresses of Advisors
Name Address & Postcode Bank: Virgin Money Sunderland SR43 4JB Independent Wyntax Consultancy Sherwood Enterprise Centre 486 Mansfield Road Nottingham Examiner: Services NGS 2FB
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Young Creatives Nottingham Trustees’ Annual Report for the Period Ended 31 July 2023
Structure, Governance & Management
Description of the Charity's Trusts
Type of Governing Document: Constitution
How the Charity is Constituted: Charitable Incorporated Organisation
Trustee Selection Methods: he charity trustees will make available to each new charity trustee, on or before his or her first appointment:
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a. a copy of the current version of this constitution;
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b. a copy of the CiO’s latest Trustees’ Annual Report and statement of accounts.
The charity's trustees review the board composition at least once a year to consider the skills and experience required and identify any recruitment needs arising. The board determines the best way to select and recruit new trustees.
How New Trustees are Inducted and Trained:
The chair and an existing trustee meets with new trustees to ensure that they understand the nature of their role and responsibilities and each trustee is issued with formal written guidance regarding this. Individual training needs of any trustees are identified and addressed by the chair.
Objectives & Activities
Summary of the Objects of the Charity as set out in its Governing Document
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(1) Forthe public benefit to educate and advance in life children and young people up to the age of 24 in and around Nottingham, by encouraging, nurturing and developing their creative talent, in particular but not exclusively by facilitating work experience placements and learning, training and mentoring opportunities for them in creative skills and within the creative industries and by organising an annual awards competition to promote and showcase young creative talent; and
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(2) such other exclusively charitable purposes (according to the law of England and Wales) for the public benefit as the charity trustees think fit.
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Young Creatives Nottingham Trustees' Annual Report for the Period Ended 31 July 2023
Achievements & Performance
Statutory Declaration
The trustees declare that they have complied with their duty to have due regard to the guidance on public benefit published by the commission in exercising their powers or duties.
The charity's trustees recognise the desirability of developing reserves to protect the charity and to ensure its sustainability and are developing a fundraising strategy to achieve that which they expect to implement as and when the charity’s financial circumstances allow. In the meantime, the charity's trustees review the charity’s financial position at each trustee meeting to ensure that it always has the funds to meet its activities and commitments.
Other Optional Information
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Young Creatives Nottingham Trustees’ Annual Report for the Period Ended 31 July 2023
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The Trustees declare that they have approved the Trustees’ Report above.
Signed on behalf of the Charity's Trustees Signature(s): DML[Jia] Full Name(s): Vise Vine Coren Position(s): Chaizas~ Date: S15 fer
Independent Examiner’s Report on the Accounts
The content and format of the Independent Examiner's report are defined by law. So itis the responsibility of the Examiner to make sure that his/her report is correctly laid out and signed. Note that the Independent Examiner cannot sign of his/her report until the Trustees’ Annual Report (above) and the Statement of Financial Activity (below) have been completed, approved and signed off by the Trustees.
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Young Creatives Nottingham Trustees‘ Annual Report for the Period Ended 31 July 2023 Page 7
YOUNG CREATIVES NOTTINGHAM
REPORT OF THE INDEPENDENT EXAMINER TO THE TRUSTEES OF
YOUNG CREATIVES NOTTINGHAM
BASIS OF INDEPENDENT EXAMINER'S REPORT
We have carried out an independent examination in accordance with the general direction given by the Charity Trusteesfor the period ended 31st July 2023. The financial statements have been prepared under the historicalcost convention and the accounting policiesset out on page 7. The procedures undertaken do not[provide] all the evidence that would be required in an audit and consequently we do not express an audit opinion on the accounts.
This report is made solely to the Trustees as a body. Our work has been undertaken so that we might state to the board of Trustees group those matiers we are required to state to them in an examiners report and for no other purpose.
RESPECTIVE RESPONSIBILITIES OF THE TRUSTEES AND EXAMINER
The Trustees are responsible for the preparation of financial
statements in accordance with applicable law and United Kingdom Accounting Standards.
Our responsibility is to review the financial statements in accordance with relevant legal and regulatory requirements and United Kingdom Auditing Standards.
STATEMENT
In connection with our examination, no matters came to our attention on review of the accounting records kept by the Charity and the financial statements have been prepared in accordance with guidance of the Charities Commissioners.
Lu i. a aS nore GsHe i a a . re” la, a oy “IAS
Wyntax Consultancy Services Sherwood Enterprise Centre 486 Mansfield Road NottinghamNGS 2FB Pore)- a
Young Creatives Nottingham Trustees’ Annual Report for the Period Ended 31 July 2023 Page 8
YOUNG CREATIVES NOTTINGHAM
STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE PERIOD ENDED 31st JULY 2023
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|Total|Total|
|Funds|Funds|
|INCOMING|RESOURCES|31/07/2923|34/07/2022|
|Grants|35,500|500|
|Sponsorship|14,100|23,600|
|Donations|5,600|
|Sales|350|-|
|TOTAL|INCOMING|RESOURCES|49.950|29,700|
|RESOURCES|EXPENDED|
|Marketing &|PR|8.714|9127|
|Charity|Donation|=|-|
|Investing|in|YCA Alumni|- commissions|3,638|3,588|
|Production|costs|5,633|3,150|
|Equipment|hire|=|x|
|Event hire|cosis|4,952|.|
|Management costs|20,550|10,733|
|Posiage|302|149|
|Young|Creative Awards|prizes|3,915|3,300|
|Software &|IT|Sh|426|
|Stationery|and|printing|275|7,058|
|Workshops &|training|7,683|7,083|
|Total|Resources|Expended|52,702|38,315|
|Net|Income|-|2,752|-|9.215|
|Funds|brought forward|16,208|19,423|
|Total Funds|Carried Ferward|£|7,456|£|410,208|
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Young Creatives Nottingham Trustees’ Annual Report for the Period Ended 31 July 2023 Page 9
YOUNG CREATIVES NOTTINGHAM
BALANCE SHEET AS AT 31st JULY 2023
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31/07/2023 31/07/2022
CURRENT ASSETS £ £
Bank account 3,830 9,708
Debtors 2 1,500 500
Resiricted Funds 11,099
16,429 10,208
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NET CURRENT (LIABILITIES) - .
NET ASSETS £16,429 £ 10,208
FUNDS
Restricted Funds 11,099 5,150
Unrestricted Funds 5,330 5,058
Total Funds £16,429 £ 10,208
Approved on behalf of the Board of Trustees
CHAIR: LNW —
Dated: Sb l2g.a
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Young Creatives Nottingham Trustees’ Annual Report for the Period Ended 31 July 2023 Page 10
YOUNG CREATIVES NOTTINGHAM
NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31st JULY 2623
- {. ACCOUNTING POLICIES
Accounting Convention:
The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Going Concer:
The financial statements are prepared on the going concem basis.
Incoming Resources:
Income is recognised in the period in which the charity is entitled fo receipt and the amount can be measured with reasonable certainty. Income is deferred only when the charity has to fulfil conditions before becoming entitled to it or where the donor has specified that the income is to be expended in a future period. Where income is restricted to a specific purpose it is recognised in the accounting period in which the expenditure for the specified project is incurred.
Resources Expended and Basis of Allocation of Costs:
Expenditure is included in the period in which it is incurred. Expenditure has been reported in the financial statements in the cost category to which it relates.
Funds Accounting:
Funds held by the charity are:
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Unrestricted General Funds - these are funds which can be used in accordance with the charitable objects ai the discretion of the trustees.
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Restricted Funds - these are funds that can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor.
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TRUSTEES’ REMUNERATION
Trustees receive no remuneration TRADE DEBTORS 31/07/2023 31/07/2022 Sponsorship £ 1,500 £ 500
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3. TRADE DEBTORS
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