Young Creatives Nottingham Charity Number: 1168804 Trustees, Annual Report and Financial Statements for the Period l August 2023 to 31 July 2024 Young CreatNes Nottingham Trustees, Annual Report for the Period Ended 31 July 2024 Contents 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 Poge2 of 10 Terence R Maxwell The Old Forge, London Road, Brampton, Suffolk, NR34 8EL Young Creatives Nottingham Trustees, Annual Report for the Period Ended 31 July 2024 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: The charity trustees will make available to each new charity trustee, on or before his or her first appointment: a copy of the current version of this constitution,. 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 selett and recruit new trustees. How New Trustees are The chair and an existing trustee meets Wlth new trustees to ensure that Inducted and Trained: 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 {11 For the 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 {21 such other exclusively charitable purposes (according to the law of England and Wales) for the public benefit as the charity trustees think fit. Poge4 of 10 Young Creatives Nottingham Trustees, Annual Report for the Period Ended 31 July 2024 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. Financial Review 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 Poge 5 of 10 Nigel Paul Cooke Chairperson of the Trustees 15th May 2025 Young Creatives Nottingham Trustees' Annual Report for the Period Ended 31 July 2024 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 Trustees for the period ended 31st July 2024 . The financial statements have been prepared under the historical cost convention and the accounting policies set 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 matters 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. Terence R Maxwell The Old Forge London Road Brampton Suffolk NR34 8EL Dated: …9th May 2025……………………………………. Young Creatives Nottingham Trustees' Annual Report for the Period Ended 31 July 2024 Page 8 YOUNG CREATIVES NOTTINGHAM ## STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE PERIOD ENDED 31st JULY 2024 |INCOMING RESOURCES
Sponsorship
Sales
Grants
Donations
TOTAL INCOMING RESOURCES
Investing in YCA Alumni - commissions
Production costs
RESOURCES EXPENDED
Charity Donation
Marketing & PR
Equipment hire
Event hire costs
Management costs
Postage
DPS checks
Young Creative Awards prizes
Insurance
Software & IT
Stationery and printing
Funds brought forward
Net Income
Workshops & training
Total Funds Carried Forward
Total Resources Expended||392
15,000
4,797
40,189
Funds
Total
31/07/2024
20,000
-
2,936
-
-
5,304
15,631
5
66
1,218
181
400
68
7,290
14,746
7,456
32,899
7,090||49,950
350
14,100
31/07/2023
Total
Funds
35,500
-
8,711
3,638
5,633
-
1,952
20,550
302
3,915
44
275
7,683
-
2,752
52,702
7,456
10,208| |---|---|---|---|---| Young Creatives Nottingham Trustees' Annual Report for the Period Ended 31 July 2024 Page 9 YOUNG CREATIVES NOTTINGHAM BALANCE SHEET AS AT 31st JULY 2024 **==> picture [339 x 102] intentionally omitted <==** **----- Start of picture text -----**
31/07/2024 31/07/2023
CURRENT ASSETS £ £
Bank account 19,746 3,830
Debtors 2 - 1,500
Restricted Funds - 11,099
19,746 16,429
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## NET CURRENT (LIABILITIES) **==> picture [393 x 165] intentionally omitted <==** **----- Start of picture text -----**
- -
NET ASSETS £19,746 £16,429
FUNDS
Sponsorship in Advance 5,000 11,099
Unrestricted Funds 14,746 5,330
Total Funds £19,746 £16,429
Approved on behalf of the Board of Trustees
CHAIR: ………………………………………………
Dated: ……………………………
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Young Creatives Nottingham Trustees' Annual Report for the Period Ended 31 July 2024 Page 10 ## YOUNG CREATIVES NOTTINGHAM ## NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31st JULY 2024 ## 1. 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 Concern: The financial statements are prepared on the going concern basis. Incoming Resources: Income is recognised in the period in which the charity is entitled to 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: Unrestricted General Funds - these are funds which can be used in accordance with the charitable objects at the discretion of the trustees. 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. 2. TRUSTEES' REMUNERATION Trustees receive no remuneration 3. TRADE DEBTORS 31/07/2024 31/07/2023 Sponsorship £ - £ 1,500 Young Creatives Nottingham Trustees' Annual Report for the Period Ended 31 July 2024 Page 10 YOUNG CREATIVES NOTTINGHAM