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2023-03-31-accounts

REGISTERED COMPANY NUMBER: 10449512 (England and Wales) REGISTERED CHARITY NUMBER: 1170643

NATIONAL YOUTH ARTS WALES

ANNUAL REPORT AND AUDITED FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2023

www.nyaw.org.uk

Contents of the Financial Statements for the Year Ended 31 March 2023

Page
Introductions 3 to 5
Report of the Trustees 6 to 17
Report of the Independent Auditors 20 to 22
Statement of Financial Activities 23
Balance Sheet 24
Cash Flow Statement 25
Notes to the Cash Flow Statement 26
Notes to the Financial Statements 27 to 39
Detailed Statement of Financial Activities 40 to 41

Auditors BPU Limited Chartered Accountants Statutory Auditor Radnor House Greenwood Close Cardiff Gate Business Park Cardiff CF23 8AA

Senior Statutory Auditor Nicholas Matthew Toye FCA

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David M Jackson OBE Chairman, National Youth Arts Wales

Trustees Report from David Jackson, Chair of National Youth Arts Wales

In the year covered by this report of the Annual Accounts, National Youth Arts Wales has yet again had to respond to the challenging circumstances facing the arts and the economy, and under the leadership of our CEO, Gillian Mitchell, the small but dynamic team have dealt with everything thrown at them magnificently. After two summers when planned residences could not take place, we have finally been able to return to the activities which have been so sorely missed. We can be very proud of this remarkable achievement, and the whole team are to be warmly congratulated.

As I write this, Gillian has moved on to new challenges, as Project Director for the forthcoming National Contemporary Art Gallery Wales, and we have now been joined by our incoming CEO, Evan Dawson, who’s distinguished background includes roles as varied as CEO of Live Music Now and CEO of The Royal Photographic Society. The interregnum has been wonderfully managed by our Interim CEO, Matthew Jones, who now returns to his substantive role as Senior Producer, Performance for NYAW.

Of course, finances are always a challenge, and this year was as complicated as ever, with much of the activity delivered having to be financed from reserves and fundraising. We are extremely grateful to the Welsh Government and the Arts Council of Wales for their continuing support throughout the period, without which the story would have been very different.

NYAW’s purposes and strategic principals remain as robust as ever and are outlined in this report. Our commitment to the young gifted and talented people of Wales is unswerving and, as ever, financial hardship or challenging personal circumstances are no barrier to participation in our courses and activities. The organisation remains committed to openness, diversity and quality.

I’d like to congratulate the team at the heart of National Youth Arts Wales on the impressive focus they continue to maintain on the benefits of arts participation and high-level training for the young people of Wales. Thanks to them we have the vision, and a credible plan, to tackle under-representation in the workforce in the cultural sector of Wales, and to support pathways into that sector that benefit the wider arts scene nationally.

I’d like to extend my heartfelt congratulations and thanks to outgoing Gillian Mitchell, our CEO, and her small but incredibly hard-working team.

With the arrival of Evan Dawson, our new CEO, such talented people at the helm, and the small army of freelance tutors, advisers and support staff, the future looks bright for NYAW and the young people of Wales.

Finally, I’d like to express my thanks and gratitude as always to my fellow Trustees for all their hard work and commitment to NYAW.

David M Jackson OBE , Chair of Trustees August 2023

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Report from Gillian Mitchell, CEO of National Youth Arts Wales

NYAW entered the financial year 2022/23 still dealing with the long-term consequences and uncertainty of the global pandemic. Indeed, plans for in person activity only became possible at the very end of the financial year, with Covid restrictions in Wales, including around homeworking and event delivery, only being eased in March 2022. Additionally, many of the young people in Wales, for whom our programmes are designed to support and develop, were dealing with the serious and long-term interruption of their training in music, theatre and dance as well as the impact of the pandemic on the mental health and physical wellbeing on a generation.

In spite of this, and with the unwavering support from our Board and funding and creative partners, NYAW’s staff and dedicated team of freelancers across Wales were galvanised to create a return programme for 2022/2023 that would inspire and nuture young people with talent and potential across our nation. The collective efforts of everyone concerned, not least our ensemble members and project participants resulted in record audiences in summer 2022 and continued success throughout the year.

The change in our artistic programme, what is now called the Ensemble Plus model, has supported the development of a new four-year Business Plan, created in January 2023. Underpinned by our new mission, vision and values, this lays out our new strategic principles and a financial framework for the delivery of our model from Q4 of 2022/23 onwards.

NYAW enters the next financial year with higher than expected levels of designated reserves, most of which again relates to grant income as a result of deferred delivery plans and better than forecast results in our trusts and foundations targets. In December 2022, we received the full transfer of the Neil and Mary Ellen Webber Fund, a legacy gift to the National Youth Orchestra of Wales which had previously been controlled by the WJEC as the former parent company. This increased our reserves by over £450,000 however is a restricted reserve fund. In spite of better than anticipated financial performance in terms of income and expenditure, the one off mitigation funding we received from Welsh Government in 2022/23 was critical in helping the Board of Trustees and staff having to make some difficult decisions about the delivery of our music ensemble activity over the most recent and following financial year. It is expected that the 2023/24 financial year will see risk and designated reserves levels at the out-turn of that financial year reduce as outlined in our four year financial forecast delivered as part of the new Business Plan. The Board and senior staff team of NYAW are cognisant of the continued and severe impact of VAT and the associated cost of living crisis on expenditure into 2023/24. It is expected that the increases in energy costs and food that were passed on to us by suppliers in 2022/23 will continue, with accommodation and transport being one of the biggest cost centres for our ensemble delivery.

We enter the 2023/2024 financial year at a critical point in our future in funding terms having submitted an application for revenue funding to Arts Council Wales as part of its Investment Review- the first one in a number of years. In spite of our continued success in generating earned income from a range of sources and in spite of continuing to meet or exceed our stretching annual trusts and foundations targets, revenue funding from Arts Council remains the cornerstone of our sustainability framework. Our reserves policy over the next four years is critical in supporting innovation and growth around our project offer however the outcome of this application will dictate the future of Wales’s national youth ensembles. With the right support in place, we look forward to continuing to build on the solid foundations we have created as a result of the creative vision of NYAW staff, our freelance community of creatives and our partners and stakeholders across Wales.

Gillian Mitchell , CEO June 2023

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TRUSTEES’ ANNUAL REPORT

The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 March 2023. The trustees have adopted the provisions of 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).

Reference and Administrative Details of the Charity, its Trustees and Advisers

Charity Name

National Youth Arts Wales (also known as Celfyddydau Cenedlaethol Ieuenctid Cymru)

Charity Registration Number 1170643

Chairman David M Jackson OBE

Chief Executive Officer Gillian Mitchell (until June 2023) Mathew Jones (Interim CEO) Evan Dawson (from October 2023)

Company Registration Number 10449512

Registered Address Office 202, 2nd Floor Trafalgar House 5 Fitzalan Place Cardiff CF24 0ED

Banking The Co-operative Bank PLC PO Box 101 Balloon St Manchester M60 4EP

Website

www.nyaw.org.uk

Directors and Trustees

Members of the Board of Trustees are the directors of the charitable company (‘the charity’) and are trustees for the purposes of charity law. Throughout this report members are collectively referred to as the trustees. Those serving on the date this report was approved are:

Trustee roles are developed through a regular skills audit process. They are then advertised publicly, and recruited through a clear and accessible process, to ensure representation from throughout Wales. Appointments are made on the basis of how closely candidates match the advertised criteria, and inducted into the organisation through a careful and supportive process, which is reviewed regularly.

David M Jackson OBE (Chair)

Peter Curran Anthony Matsena Nia Medi Richard Newton Karen Pimbley Sian Ropaigéalach Rhian Hutchings (until 10 May 2023) Issac Lewis (from 8 November 2023) Mared Browning (from 8 November 2023) Rhys Watkins (from 8 November 2023)

The Trustees confirm that they have complied with our governance documents and procedures.

Aims and Objectives

National Youth Arts Wales aims to be the essential stepping-stone in every young person’s creative career, by delivering a truly national, bilingual, multi-artform model. Our performance against our strategic objectives is set out in each of the three ensemble sections that follow.

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Music Ensembles and Music Project Activity
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The 2022/23 financial year saw the return to a full range of activity for National Youth Arts Wales after the Covid-19 pandemic. As such the National Youth Brass Band, Choir and Orchestra each ran in-person rehearsal residencies and performance tours, including an element of additional activity to assist members with the transition back to ensemble playing which had been prohibited during the Pandemic.

Each of the residencies incorporated a mix of sectional rehearsals, full ensemble rehearsals, social activities, musical masterclasses and wellbeing activity.

Each residency was supported by a freelance team of creative professionals, welfare staff and stage management personnel, as well as the NYAW Staff Team.

National Youth Brass Band of Wales

Following an initial rehearsal day at the end of March 2022, we ran an nine-day residency at UWTSD Carmarthen, led by Conductor Philip Harper and featuring trombone soloist, Isobel Daws .

Dates: 29[th] July – 3[rd] August (Rehearsal residency at UWTSD, Carmarthen)

Concerts: 4[th] August – Pontio, Bangor,

5[th] August – St Davids Cathedral

6[th] August – Llandaff Cathedral, Cardiff

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National Youth Choir of Wales

The Choir met in Cardiff for a single rehearsal day in April and 2-day rehearsal weekend at the beginning of July 2022 before embarking on a 10-day residency and concert tour. The residency was held at UWTSD Carmarthen with Tim Rhys-Evans MBE as the conductor.

Dates: 2[nd] April (rehearsals at Royal Welsh College of Music and Drama, Cardiff) 2[nd] & 3[rd] July (rehearsals at Cardiff Met University) 25[th ] – 31[st] August (rehearsal residency at UWTSD, Carmarthen)

Concerts: 1[st] September – Prichard-Jones Hall, Bangor 2[nd] September – Aberystwyth Arts Centre 3[rd] September – Llandaff Cathedral, Cardiff

National Youth Orchestra of Wales

We ran both a short Easter residency and a summer residency and concert tour for the Orchestra in 2022/23 to respond partly to the impact of COVID and partly to an invitation to a high-profile performance at the Three Choirs Festival. Kwamé Ryan conducted the Orchestra for the first time whilst violinist Jennifer Pike was featured as soloist.

Dates: 10[th] – 14[th] April (Rehearsal residency at UWTSD, Lampeter) 22[nd] – 28[th] July (Rehearsal residency at UWTSD, Carmarthen) Concerts: 29[th] July – St Asaph Cathedral 30[th] July – Hereford Cathedral (Three Choirs Festival) 31[st] July – St David’s Hall, Cardiff

Across all music ensemble activity, we employed 87 freelance staff with 196 young people making up the membership.

Music Auditions

Whilst we were able to return to face-to-face auditions without any COVID-19 restrictions in place during the autumn of 2022, we retained the option of Video submissions for accessibility reasons. We received a total of 307 applications to the music ensembles, held 16 face-to-face audition sessions across Wales (Cardiff – 8, St Asaph – 4, Carmarthen – 4) and we received 88 video submissions.

We employed a total of 22 creative freelancers during the course of the auditions.

Music Futures

In 2022 Music Futures, our programme for young artists interested in popular, commercial music returned. We worked with a total of 14 young people who took part in group and individual mentoring sessions online and in-person in advance of a residency that combined creating, rehearsing and recording new music alongside a range of industry sessions that gave members an insight into different areas of the commercial music industry.

The project culminated in a gig at Cardiff’s Clwb Ifor Bach where the members performed to a paying audience.

We employed a total of 27 freelancers including 5 Future Mentors, young artists under the age of 25 who gained paid employment and training opportunities as part of the project.

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Côr Skills

In 2022/23 we were able to return to the deliver of our choral development programme, Cor Skills, for the first time since the COVID-19 pandemic. We developed a new syllabus and worked with a number of schools in the south Wales area to deliver 6 in-school workshops reaching approximately 130 young singers before running a 4-day residency for 27 singers during the February 2023 half term.

We employed a total of 18 freelancers across the creative and wellbeing sectors, including 2 Future Mentors, young people under the age of 25 who received paid employment and training as part of the project and who led their own workshop as part of the residency giving them meaningful facilitation experience.

Hard Côr

This partnership project between National Youth Arts Wales and Wales Millennium Centre was piloted during the autumn of 2022. The aim of the project is to offer a training and performance opportunity for young singers, rappers and beatboxers, bringing them together to create a unique vocal collective.

We ran a series of workshop rehearsals culminating in a curtain raiser performance on the opening night of Wales Millenium Centres Grime musical “The Making of a Monster”.

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NYTW Ensemble and Theatre Project Activity
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NYTW/Theatr Clwyd 2022 Co-production of The In-between.

Commissioned especially for the NYTW 2022 ensemble writers Alexandria Riley and Gary Owen delivered a bilingual script that was the first staging of a full National Youth Theatre of Wales production since 2016. 24 cast members were offered places within the ensemble

Following the appointment of Hannah Noone as Director as well as a full creative team by May 2022 A series of four pre-residency online sessions were held in May, June and July to prepare the cast for the rehearsal residency and an opportunity for the Director to begin casting roles for the production as well as preparatory work done on movement, working with the vocal coach and read throughs of script extracts.

Summer rehearsals took place between the 16[th] and 30[th] of August initially in Coleg Cambria’s campus in Wrexham as Theatr Clwyd’s temporary rehearsal space was not able to support any catering or break-out spaces. Rehearsal moved to Theatr Clwyd’s The Mix for tech week in the run up to 2 performances at Theatr Clwyd on the 30[th] and 31[st] of August followed by 2 performances in Sherman Theatre Cardiff in the main house on the 2[nd] and 3[rd] of September

Auditions for 2023 Membership

Pre-audition schools and colleges workshops were delivered in November by freelancers as taster sessions to demystify the audition process and give some grounding in approaching monologues.

15 in person 3 hour audition workshops were held across Wales in January and February with 3 new venues/locations included: The Red House, Merthyr Tydful. The Park and Dare, Treorchy and Coleg Menai Bangor. 2 Zoom workshops were offered for those unable to attend in-person auditions. 15 different panel

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members led the auditions with the majority of the sessions having 1 or 2 Theatr Clwyd associate artist or core staff as part of the panel teams with their time given in-kind. NYTW received 188 applications – an increase of 20% on 2022.

Of those auditioned 24 were offered cast membership as well as a place on Professional Pathways. A further 30 were offered Professional pathways membership and all other auditionees were offered opportunities with partners Theatr Clwyd and RWCMD on backstage and key skills workshops.

Following auditions held across Wales in January and February 2022, a total of 45 young people were offered membership on the Professional Pathways programme with 25 of these also offered cast membership.

Professional Pathways activity

Run in partnership with Theatr Clwyd with support from Wales Millennium Centre this on and off-stage development programme ran from April 2022 – July 2022 with a focus around professional productions theatre companies, artists and venues from Wales and beyond.

A planned training day run in partnership with WMC around their production of Anthem in April 2023. Unfortunately, this didn’t take place due to the show being cancelled because of COVID and key facilitators unable to deliver.

43 members attended a 3-day residential course during Easter holidays 2022 at Theatr Clwyd in Mold built around Seiriol Davies’ and theatre Clwyd’s production of Milky Peaks. Workshops and masterclasses were facilitated by a mixture of core Theatr Clwyd production and creative engagement staff, Theatr Clwyd’s CEO, the Milky Peaks creative team and extra freelancers engaged by NYAW. Workshops were delivered on improvisation and performance skills, backstage workshops, vocal and movement sessions, approaching text and monologues as well as industry insight into facilitation and community engagement.

Other Professional Pathways activity included:

Digital Days – Online training sessions were hosted on Theatre Making Insight that included sound design and music for theatre – led by Casi Wyn and Lemfreck who collaborated on Cwmni Frân Wen’s Ynys Alys and a devising session led by Led by Common Wealth theatre company’s Artistic Director Rhiannon White and Associate Director Fahadi Mukulu on their methodology of “radical acts’ theatre making. A session on Preparing for your Drama School / College Audition with Actor, Lecturer and RWCMD audition panelist Anita Reynolds and RWCMD acting graduate Bethan James was hosted. In addition Actor Heledd Gwynn facilitated a session on Preparing the body and mind for performance

Go and See Visits - Escorted Go and See visit with National Theatre of Wales to see the dress rehearsal of their new production Circle of Fifths by Gavin Porter.

A proposed workshop and escorted visit to Hijinx’s Unity Festival performance in Ffwrnes, Llanelli was planned but didn’t take place due to lack of numbers. The performance was cancelled in the end due to Covid

NYTW ticket offers .

Either free or £3 ticket offers were secured with a number of companies and venues and sent out in the monthly ticket offer to members. These included tickets to performances at Theatr Clwyd, Pontio, WMC and Chapter.

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Online Play Reading Club

Curated and hosted by Theatr Genedlaethol’s Artistic Director Steffan Donnelly and NYTW’s 2022 Ensemble director Hannah Noone ensemble members took part in a fortnightly online Play reading club where they are cast in roles by the directors exploring a diverse range of contemporary playscripsts by playwrights who write well for young voices. Guest creatives including the writers or directors of the plays were invited to these sessions to either take part in a Q & A following the reading or as facilitators leading on a workshop element on writing or stagecraft. Plays explored were:

Petula – Theatr Genedlaethol and NTW’s bilingual version adapted by Dafydd James. Director Mathilde Lopez was the guest came to the session.

Wife – By Samuel Adamsdon

Birds and Bees – By Charlie Josephine with a writing workshop led by the writer. A Shedding of Skin – Led by writer/actor Amanda Wilkin.

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NYDW Ensemble and Dance Project Activity
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Momentwm – Easter 2022

In April 2022, 14 young dancers aged 9-11 from 8 primary schools across Wales experienced the Momentwm programme at the URDD in Cardiff. The programme was delivered in partnership with Ballet Cymru, exploring elements of Ballet, Hip Hop Theatre, and Contemporary Dance over three days. The program operated using a similar residential model as NYDW. Working with Ballet Cymru, we developed an educational framework that underpinned the programme linked to the new curriculum for Wales, supporting aspiring young dancers in accessing dance training in secondary schools across Wales. The programme also saw a support package for schoolteachers, supporting their development and understanding of the benefits of dance education.

Across NYDW Momentwm project, we employed 8 freelance staff with 14 young people making up the cohort.

National Youth Dance Wales – 2022 Summer Residency

In August 2022, members of National Youth Dance Wales collaborated with renowned choreographers Lea Anderson MBE and Arielle Smith to create two innovative full length dance works, showcasing their technique and performance skills.

The residency took place in Cardiff, spanning over two weeks from the 16th to the 28th of August, hosted at The Royal Welsh College of Music and Drama. This unique programmed aimed at stretching and challenging our members and providing them with a rich tapestry of experiences that challenged them technically, creatively, and artistically while enhancing their technical and performance skills.

The programme offered an array of invaluable opportunities and experiences. It not only exposed the members to various dance techniques and choreographic explorations but also introduced them to the realms of acting,

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injury prevention and sessions focused on health and well-being. The multifaceted nature of the programme allowed our members to broaden their horizons and grow as artists.

In November 2022, the ensemble returned to Cardiff for a four-day period dedicated to rehearsal and performance. This evening marked a significant moment as it was the first time National Youth Dance Wales had presented work on stage since 2018. On this occasion, 22 talented dancers from National Youth Dance Wales delivered an impressive showcase, featuring 'Riot,’ choreographed by the esteemed choreographer Lea Anderson MBE, and 'With Love from Us, XXX,' choreographed by the Olivier Award-winning choreographer Arielle Smith with costume design by Welsh designer and maker George Hampton Wale. The outstanding performance took place at The Riverfront Theatre in Newport, where the company shared the stage with Ballet Cymru, in line with our 2022 partnership.

Across NYDW summer residency we employed 15 freelance staff with 22 young people making up the membership

Auditions

From December 2022 to February 2023, National Youth Dance Wales created and delivered an Education and Community workshop tailored to captivate the interest of young people across Wales. The primary goal was to inspire those with a passion for dance to consider joining the ensemble.

The workshops proved to be a success, with our dedicated freelance team conducting a total of 10 workshops in a variety of settings. As a result, our connections with private dance schools, further education colleges, and higher education establishments have seen substantial expansion. This work plays a pivotal role in enhancing the presence and awareness of National Youth Dance Wales, solidifying our commitment to dance education and community engagement.

After a successful audition tour which saw National Youth Dance Wales audition team deliver workshop auditions in 11 venues across the country engaging with 114 young dancers an increase since the previous year, 20 young dancers were selected to join the summer residency lead by award winning international choreographer Mario Bermudez Gil .

Audition locations: Cardiff x2, Newport, Abergavenny, Swansea, Bridgend, Llandrindod Wells, Wrexham, Pwllheli, Llandudno.

Across NYDW Auditions activity, we employed 4 freelance staff and engaged with 114 young people, with 20 making up the membership.

Other opportunities

National Youth Dance Wales continued its partnership with the National Youth Dance Company of Scotland through 'The Celtic Collective,' offering an exciting array of activities. This collaborative presented an amazing opportunity for our members.

As part of this partnership exchange, one NYDW member had the incredible chance to join NYDCS from April 2022 Likewise, NYDW welcomed a talented NYDCS member to Wales in August 2022. This exchange allowed each dancer to immerse themselves in new ways of working and approaching their dance training. It was a transformative experience that pushed the boundaries of their skills and creativity. To capture this journey, both dancers meticulously documented their experiences and shared them via a collective blog and evaluation process.

'The Celtic Collective' was instrumental in forging connections between the highest levels of youth dance in Wales and Scotland. This initiative not only provided aspirational digital and in-person opportunities for our

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members but also facilitated interactions with leading figures and organizations in the dance industry. It was a platform where budding talents could learn, grow, and flourish on their dance journeys.

Across NYDW Celtic Collective activity, we employed 6 freelance staff and engaged with 20 young people from Wales and 12 young people from Scotland.

FUNDRAISING STATEMENT FOR NATIONAL YOUTH ARTS WALES 2022 - 2023

Thank you to our supporters

Thank you to all of our generous funders and donors who have supported National Youth Arts Wales during 2022-23.

Principal Supporters:

Trusts, Foundations and Corporate Partners:

NYAW Bursary Fund Supporters:

Fundraising Statement for National Youth Arts Wales 2022-2023 Our Policies and Procedures

National Youth Arts Wales has developed its fundraising function over the past four years, to reflect its growing ambition. This includes the appointment of a full-time Fundraising and Development Manager in 2020; the appointment of a Creative Fundraising Intern from 2021-22; and the increased role of the Board in fundraising stewardship.

With this increase in fundraising activity, National Youth Arts Wales constantly reviews and amends its policies and practices, to ensure that our fundraising meets high standards.

This statement on our fundraising approach is designed to meet the reporting requirements outlined in Section 13 of The Charities (Protection and Social Investment) Act 2016.

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Approach to Fundraising

A large proportion of our fundraised income comes from charitable trusts and foundations, often forming part of our funding for restricted purposes. Restricted funds are clearly marked in our accounts and procedures are in place to ensure that donations are spent as intended by the original donor or funder.

All fundraising activity is conducted by directly employed staff or by NYAW’s unpaid trustees. We do not contract any third-party fundraisers to raise money on our behalf, and we do not undertake street collections or door-to-door fundraising of any kind.

NYAW does receive occasional consultancy (paid and pro-bono) to help develop its fundraising strategy – however, this relates to strategic development rather than soliciting donations on our behalf, or making contact with donors.

NYAW does not currently routinely ask volunteers to fundraise on its behalf. However, when volunteers are used in the future, NYAW has clear policies in place to ensure that volunteer fundraisers are aware of the legal responsibilities and best practices relevant to the activity they are carrying out, that their work is appropriately monitored to ensure high standards, and that they are given full training to fulfil their role in a safe, ethical and legal manner.

Regulation and Policy

National Youth Arts Wales is a registered charity (no. 1170643) and is bound by Charity law.

NYAW voluntarily registers with the Fundraising Regulator and adheres to the Code of Fundraising Practice. We keep up-to-date with new developments that may affect our working practices, and are satisfied that we currently meet all aspects of the of Code of Fundraising Practice. The Code of Fundraising Practice is referred to when developing training materials for anyone with direct contact with potential donors.

Although NYAW does not meet the criteria for the compulsory Fundraising Regulator levy, we have chosen to register voluntarily to demonstrate our commitment to fair and transparent fundraising practices.

We have published a privacy policy and complaints policy on our website, with specific statements in place referring to our fundraising practices.

Fundraising Complaints and Compliance Issues

During 2022-2023, NYAW has received no complaints about its fundraising activity. There are no outstanding compliance issues regarding NYAW’s fundraising practices.

Vulnerable Donors

We will never discriminate against any donors, nor refuse a donation because of someone’s age, disability or mental capacity. However, there may be occasions where we are aware that a donor is vulnerable, and we may need to take extra steps to ensure that the donation meets with the donors wishes.

If we are aware that a donor may be vulnerable, we will consider taking the following steps:

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We do not currently use third party lists, or any other “cold” marketing tactics to acquire new donors. We would take advice from external sources before deciding to use these approaches in the future, balancing any potential gains against the privacy of the individual. In accordance with the Code of Fundraising Practice and GDPR legislation, we would also ensure clear policies were in place to prevent unreasonable intrusions on privacy, unreasonably persistent approaches for money, and to ensure under pressure was never placed on a potential donor.

Ethical fundraising

NYAW strives to be an ethical organisation, focusing on the rights and wishes of the young people we work with.

Fundraising from external sources is an incredibly important part of fulfilling that mission, but there may be occasions where a donor’s request, values or reputation would negatively affect NYAW. In this case, after consultation with the Chief Executive and with the Board if necessary, a donation may be refused.

Reasons for this might include:

As our fundraising function continues to grow, these policies will be expanded to reflect the changing nature of NYAW’s fundraising strategy.

NYAW Reserves Note

At the close of 2022/23, our reserves included £654,815 restricted and £425,722 unrestricted, with a designated risk reserve of £232,990.

As a result of the Covid pandemic, funding received against delivery was deferred due to revised delivery plans. This temporarily increased our unrestricted reserves, but much of this will be discharged in 2023/24 (see below).

This is in line with the NYAW Reserves Policy, against which the Board monitor reserves on a regular basis, ensuring reserves provide mitigation against uncertain earned income targets and the continued impact of the cost of living crisis. Designated reserves can only be spent in accordance with the designation, unless otherwise agreed by the Board in exceptional circumstances.

Our business plan (2023 onwards) recognises a reduction in reserves over three years as we –

Principle Risks and Uncertainties

A detailed set of organisational risks and mitigations are reviewed by the Finance and General Purposes Committee on a quarterly basis, with the primary risks subsequently being reported to the Board of Trustees. The primary risks are currently about the maintenance of reserves; future levels of grant income, with reductions

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in government budgets; representation against EEDI targets; and public profile. None of these risks are currently considered critical, but action plans are in place against each, closely monitored by the senior staff team and Board.

Future Direction of Charity

At National Youth Arts Wales, we know that creativity and cultural participation are vital ingredients of a healthy, happy and connected life. We believe that every young person in Wales should have the opportunity to explore their own artistic potential through a wide range of different artforms.

National Youth Arts Wales is responsible for the ecology of youth arts in Wales, working with partners to gather data and understand what support is available at every stage of the lifecycle, in a range of different artforms, throughout every region.

We know that talent does not discriminate - so we identify the main barriers for different groups into the arts, and work with partners throughout Wales to help reduce these, across a range of protected characteristics and beyond.

For those who have demonstrated the greatest potential in specific artforms, we will continue to provide high quality national ensembles to help develop and celebrate those individuals, to inspire, support and connect our next generation of artists.

Financial Review

Income totalled £1,540,711 (2022 - £744,281).

Expenditure totalled £1,073,444 (2022 - £590,635).

This resulted in a surplus for the year of £467,267 (2022 - £153,646).

Total funds carried forward were £1,313,527 (2022 - £846,260), which includes £654,816 (2022 - £73,331) restricted fund and £658,711 (2022 - £772,929) unrestricted fund carried forward. Available reserves as at 31 March 2023 were £420,136.

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STATEMENT OF TRUSTEES' RESPONSIBILITIES

The trustees (who are also the directors of National Youth Arts Wales for the purposes of company law) are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company law 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 charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing those financial statements, the trustees are required to

The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities

In so far as the trustees are aware:

Report of the trustees, incorporating a strategic report, approved by order of the board of trustees, as the company directors, on 8 November 2023 and signed on the board's behalf by:

............................................................

David M Jackson OBE – Chairman and Trustee of National Youth Arts Wales

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Report of the Independent Audltors to the Members of National Youth Arts Wales Opinion We have audited the financial slalements of National Youth Arts Wales {the 'charitable company'l for the year ended 31 March 2023 which comprise the Statement of Financial Activities, the Balan￿ Sheet, the Cash Flow Statement and notes lo the financial statements. including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standard5 Iunited Kingdom Generally Accepted Accounting Practice). Chorteied Accountonts In our opinion the financial ststements.. give a true and fair view of the stale of the charitable company's affairs as al 31 March 2023 and of ils incoming resour￿8 and application of resources, including its income and expenditure, for the year then ended., have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practi￿,. and have been prepared in accordance with the requirements of the Companies Act 2006. 8asls for oplnion We conducted our audit in accordance with International Standards on Auditing IUKI IISAS IUKII and applicable law. Our responsibilitie5 under those standards are further described in the Auditors, responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC'S Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. Rac1n(x Hous8 iknnwcth Close CoTditt Gote 8u5ness Pl2 Co￿lft CF23 SM Concluslons relating to going concem In auditing the financial statements, we have concluded that the trustees. use of the going concern basis of accounb'ng in the preparation of the financial statements is appropriate. Based on the work we have performed, we have not identified any material uncertainties relating lo events or conditions that, individually or collectively, may cast significant doubt on the charitable company's ability to continue as a going Concern for a period of at least I￿e1ve months from when the financial statements are aulhorised for issue. Our responsibilities and the responsibilities of the trustees with respect to going con￿rn are described in the relevant sections of this report. other informatlon The Iruslees are responsible for the other infomiation. The other information comprises the information included in the Annual Report. other than the financial statements and our Report of the Independent Auditors Ihereon. Our opinion on the financial statements does not cover the other infom)alion and, except to the extent otherwise explicitly stated in our ￿pOrt, we do not express any form of assurance onclusion thereon. In connection with our audit of the financial slalements, our responsibility is to read the other information and. in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially mi5Stated. If we identtfy such material inconsistencies or apparent material misslalements, we are requirecl to determine whether this gives rise lo a material misstatement in the financial stslemenls themselves. If, based on the work we have performed, we conclude that there is a material misslalemenl of this other infomation, we are required lo report that fact. | We have nothing to report in this regard. hihevKty¢*ubWl>or¢noe I￿e%￿n￿ll Lwnp55w1￿lle5tyV 20 CGrconyN￿moer.l7?.194￿ business potenllal unleashed

Report of the Independent Auditors to the Members of National Youth Arts Wales Oplnlons on oth¢r matters prescribed by the Companies Act 2006 In our opinion. based on the work undertaken in the course of the audit." the information given in the Report of the Trustees for the financial year for which the financial stslemenls are prepared is consislenl with the financial statements., and the Report of the Trustees has been prepared in accordance with applicable legal requirements. Choiteied Accounlants Matters on whlch we are requlred to report by exception In the light of the knowledge and understanding of the charitable eompany and its environment obtained in the course of the audit. we have not identified materi81 misstatements in the Report of the Trustees. We have nothing to report in respect of the followng matters where the Companies Act 2006 requires us lo report lo you if, in our opinion.. adequate accounting records have not been kept or returns adequate for our audit have not been received from branches not visited by us., or the financial statements are not in agreement with the accounb'ng ￿CordS and retums., or certain disclosures of trustees. remuneration specified by law are not made., or we have not reTrived 811 the information and explanations we requi￿ for our audit. Responsibilities of trustees As explained more fully in the Stslemenl of Trustees. Responsibilities, the Iruslees (who are also the directors of the charitable company for the purposes of company lawl are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the Iruslees determine is necessary lo enable the preparation of financial stalemet)ts that are free from material misstatement, whether due to fraud or error. ftodrK)r AoL¢e Gieenwco¢J Close Coidff GoleÈusiness Po Cai(Alf CF23 &44 In preparing the financial slatemenls, the Iruslees are responsible for assessing the charitable comp8ny's ability to continue as a going concern, disclosing, as applicable, mallers related to going concern and using the going concern basis of accounting unless the Iruslees either intend to liquidate the charitable company or lo cease operations, or have no realistic allemative bul to do so. Our responslbilities for the audit of the financial ststements Our objectives are lo obtain reasonable assurance about whether the financial slalements as a whole are free from material misstatement, whether due to fraud or error, and lo issue a Report of the Independent Auditors that includes our opinion. Reasonable assurance is a high level of assurance, bul is not a guarantee that an audit conducted in accordance with ISAS (UK} will always deteel a material misstatement when il exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected lo influence the economic decisions of users taken on the basis of these financial statements. We gained an understanding of the legal and regulatory framework applicable to the charity and the industry in which il operates, and considered the risks of acts by the charity that were contrary to applicable laws and regulations, including fraud. We designed audit procedures to respond to the risk. recognising that the risk of not detecting a material misstslement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate cOn￿alMent. The laws and regulations that we determined were most significant to the charity were the Companies Act, The Charities Act and the Safeguarding Children.. Working Together Under the Child￿n Act. crnrtwedAcrounFants tDJdw Ltd cc<rWnyTr￿￿r ST23948 21 Al￿ business potential unleashed

Report of the Independent Auditors to the Members of National Youth Arts Wales We obtained an understanding of how the charity is complying with those laws and regulations I by making enquiries to the management, and corroborated these enquiries through our review of board minutes and review of legal and professional spend for the year. Chartere Accountonls We assessed the susceptibility of the charities revised financial statements lo material misslalement. including how fraud might occur, and did not identify any key audit matters relating to irregularities, including fraud. We assessed the effectiveness of intemal Controls that management has in place lo prevent and detect fraud, including lesling of manLJ81 journals and evaluating the assumptions and judgements made by management in ils $ignificant accounting estimates. A further description of our responsibilities for the audit of the revised financial statements is located on the FRC website at www.frc.org.uklaudiltsrsresponsibilities. This description forms part of our Report of the Independent Auditors. We are also required to reF)Ort whether in our opinion the original financial statements failed to comply with the requirements of the Companies Act 2006 in respects of the respects identified by the directors. The audit of revised financial statements includes the performance prO￿dureS to assess whether the revisions made by the directors are appropriate and have been properly made. A further description of our responsibilities for the audit of the financial statements is located on the Financi81 Reporting Council's website at www.frc.org.uklaudilorsresponsibililies. This description forms part of our Report of the Independent Auditors. Rad￿r Hous8 Use of our report This report is made solely to the charitsble company's members, as a body, in accordance wf(h Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might stale lo the charitable company's members those matters we are required to stale lo them in an auditors, report and for no other purpose. To the fullest exlenl permitted by law, we do not accept or assume responsibility lo anyone other than the charitable company and the eharitsble company's members as a body, for our audit work. for this report, or for the opinions we have formed. (knnYécKJd Close Cuiisfff Éole ￿5￿esS Coithff CF23 BM Nicholas Matthew Toye FCA (Senior Slatulory Auditor) for and on behalf of BPU Limited Chartered Accountants Slalutory Auditor Radnor House Greenwood Close Cardiff Gale Business Park Cardiff CF23 8AA Date.. 22 WL Cc4YWnyNu￿OrJ?23•Ats Al￿ business potential unleashed

National Youth Arts Wales

Statement of Financial Activities for the Year Ended 31 March 2023

2023
Unrestricted Restricted
Total
funds
funds
funds
Notes
£
£
£
INCOME AND ENDOWMENTS FROM
Donations and legacies
2
7,484
543,246
550,730
Charitable activities
4
Grants
490,397
207,650
698,047
Audition Fees
6,759
-
6,759
Residency Fees
133,108
-
133,108
Ticket and other income
39,967
-
39,967
Other income
3
112,100
-
112,100
Total
789,815
750,896
1,540,711
EXPENDITURE ON
Charitable activities
5
Charitable Activities
658,181
115,259
773,440
Other
243,166
56,838
300,004
Total
901,347
172,097
1,073,444
NET INCOME/(EXPENDITURE)
(111,532)
578,799
467,267
Transfers between funds
15
(2,687)
2,687
-
Net movement in funds
(114,219)
581,486
467,267
RECONCILIATION OF FUNDS
Total funds brought forward
772,930
73,330
846,260
TOTAL FUNDS CARRIED FORWARD
658,711
654,816
1,313,527		 2022
Total
funds
£
124,379
575,124
6,383
37,285
1,109
-
744,280
356,028
234,606
590,634
153,646
-
153,646
692,614
846,260

The notes form part of these financial statements

23

National Youth Arts Wales

Balance Sheet 31 March 2023

2023
Unrestricted Restricted
Total
funds
funds
funds
Notes
£
£
£
FIXED ASSETS
Tangible assets
11
5,586
-
5,586
CURRENT ASSETS
Debtors
12
243,927
-
243,927
Cash at bank
538,663
654,815
1,193,478
782,590
654,815
1,437,405
CREDITORS
Amounts falling due within one year
13
(129,464)
-
(129,464)
NET CURRENT ASSETS
653,126
654,815
1,307,941
TOTAL ASSETS LESS CURRENT
LIABILITIES
658,712
654,815
1,313,527
NET ASSETS
658,712
654,815
1,313,527
FUNDS
15
Unrestricted funds
658,712
Restricted funds
654,815
TOTAL FUNDS
1,313,527		 2022
Total
funds
£
4,107
81,941
836,685
918,626
(76,473)
842,153
846,260
846,260
772,930
73,330
846,260

The financial statements were approved by the Board of Trustees and authorised for issue on 25 January 2024 and were signed on its behalf by:

............................................. D M Jackson - Trustee

The notes form part of these financial statements

24

National Youth Arts Wales

Cash Flow Statement for the Year Ended 31 March 2023

Notes
Cash flows from operating activities
Cash generated from operations
1
Net cash provided by operating activities
Cash flows from investing activities
Purchase of tangible fixed assets
Net cash used in investing activities
Change in cash and cash
equivalents in the reporting
period
Cash and cash equivalents at the
beginning of the reporting period
2
Cash and cash equivalents at the
end of the reporting period
2		 2023
£
363,306
363,306
(3,826)
(3,826)
359,480
833,998
1,193,478		 2022
£
4,511
4,511
(2,854)
(2,854)
1,657
832,341
833,998

The notes form part of these financial statements

25

National Youth Arts Wales

Notes to the Cash Flow Statement for the Year Ended 31 March 2023

1. RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING FROM OPERATING
ACTIVITIES
2023 2022
£ £
Net income for the reporting period (as per the Statement
of Financial Activities) 467,267 153,646
Adjustments for:
Depreciation charges 2,347 2,172
Increase in debtors (161,986) (71,903)
Increase/(decrease) in creditors 55,678 (79,404)
Net cash provided by operations 363,306 4,511
2. ANALYSIS OF CASH AND CASH EQUIVALENTS
2023 2022
£ £
Notice deposits (less than 3 months) 1,193,478 836,685
Overdrafts included in bank loans and overdrafts falling due
within one year - (2,687)
Total cash and cash equivalents 1,193,478 833,998
3. ANALYSIS OF CHANGES IN NET FUNDS
Net cash
Cash at bank
Bank overdraft
Total		 At 1/4/22
£
836,685
(2,687)
833,998
833,998		 Cash flow
£
356,793
2,687
359,480
359,480		 At 31/3/23
£
1,193,478
-
1,193,478
1,193,478

The notes form part of these financial statements

26

National Youth Arts Wales Notes to the Financial Statements for the Year Ended 31 March 2023

1. ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements of the charitable company, which is a public benefit entity under FRS 102, 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)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Income

All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.

Grants and Donations

Grants and donations are only included in the SOFA when the general income recognition criteria are met.

In the case of performance related grants, income must only be recognised to the extent that the charity has provided the specified goods or services as entitlement to the grant only occurs when the performance relates conditions are met.

Government Grants

The charity has received government grants in the reporting period. Detail of this included within the notes to the accounts.

Tax reclaim on donations and gifts

Gift Aid receivable is included in income where there is a valid declaration from the donor. Any Gift Aid amount recovered on a donation is considered to be part of that gift and is treated as an addition to the same fund as the initial donation unless the donor of the terms of the appeal has specified otherwise.

Donated services and facilities

Donated services and facilities are included in the SOFA, if applicable, when received, at the value of the gift to the charity provided the value of the gift can be measured reliably.

Donated services and facilities that are consumed immediately are recognised as income with an equivalent amount recognised as an expense under the appropriate heading in the SOFA.

Volunteer help

The value of any voluntary help received is not included in the accounts but is described in the trustee's annual report if applicable.

Income from membership subscriptions

Membership subscriptions received in the nature of a gift are recognised as donations.

27

continued...

National Youth Arts Wales Notes to the Financial Statements - continued for the Year Ended 31 March 2023

1. ACCOUNTING POLICIES - continued

Income

Membership subscriptions which gives a member the right to buy services or other benefits are recognised as income earned from the provision of goods and services as income from charitable activities.

Expenditure

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, 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 accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Computer equipment - 33% straight line

Taxation

The charity is exempt from corporation tax on its charitable activities.

Fund accounting

Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.

Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.

Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.

2. DONATIONS AND LEGACIES

Donations 2023
£
550,730		 2022
£
124,379

There is a large increase in donations this year compared to last year which largely relates to a one off sum of money from the WJEC.

28

continued...

National Youth Arts Wales

Notes to the Financial Statements - continued for the Year Ended 31 March 2023

3.
OTHER INCOME
Tax Credit
4.
INCOME FROM CHARITABLE ACTIVITIES
Activity
Grants
Grants
Charitable Activities
Audition Fees
Charitable Activities
Residency Fees
Charitable Activities
Ticket and other income
Analysis of receipts of government grants
Descriptions
Arts Council Wales
HMRC - Furlough
Welsh Local Government Association
Total
5.
CHARITABLE ACTIVITIES COSTS		 2023
2022
£
£
112,100
-
2023
2022
£
£
698,047
575,124
6,759
6,383
133,108
37,285
39,967
1,109
877,881
619,901
2023
2022
£
£
578,047573,010
-
2,114
120,000
-
698,047575,124


Charitable Activities
Other		 Direct
Costs
£
773,440
-
773,440		 Support
costs (see
note 6)
Totals
£
£
-
773,440
300,004
300,004
300,004
1,073,444

29

continued...

National Youth Arts Wales

Notes to the Financial Statements - continued for the Year Ended 31 March 2023

6.
SUPPORT COSTS
Governance
Other
costs
£
£
Other
291,004
9,000
Support costs, included in the above, are as follows:
2023
Other
£
Staff Costs
161,460
Advertising & Marketing
36,046
Professional and Legal Fees
28,309
Travel and Subsistence
2,857
Consultancy and Freelancers
21,780
General Administrative
37,904
Bad Debt Write Off
300
Depreciation of tangible fixed assets
2,348
Auditors' remuneration
9,000
300,004
7.
NET INCOME/(EXPENDITURE)
Net income/(expenditure) is stated after charging/(crediting):
2023
£
Depreciation - owned assets
2,347
8.
AUDITORS' REMUNERATION
2023
£
Fees payable to the charity's auditors for the audit of the
charity's financial statements
9,000		 Totals
£
300,004
2022
Total
activities
£
134,340
24,109
28,789
3,025
24,050
15,841
2,280
2,172
-
234,606
2022
£
2,172
2022
£
-

30

continued...

National Youth Arts Wales Notes to the Financial Statements - continued for the Year Ended 31 March 2023

9. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31 March 2023 nor for the year ended 31 March 2022.

Trustees' expenses

There were no trustees' expenses paid for the year ended 31 March 2023 nor for the year ended 31 March 2022.

10. STAFF COSTS

Salaries and Wages
Social Security costs
Pension costs
Total Staff Costs		 2023
£
327,570
25,596
6,527
359,693		 2022
£
265,531
20,010
5,430
290,971

The average monthly number of employees during the year was as follows:

Average Number of Employee's 2023
14		 2022
12

No employees received emoluments in excess of £60,000.

31

continued...

National Youth Arts Wales

Notes to the Financial Statements - continued for the Year Ended 31 March 2023

11.
TANGIBLE FIXED ASSETS
COST
At 1 April 2022
Additions
At 31 March 2023
DEPRECIATION
At 1 April 2022
Charge for year
At 31 March 2023
NET BOOK VALUE
At 31 March 2023
At 31 March 2022
12.
DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Trade debtors
Other debtors
Prepayments and accrued income		 2023
£
120,000
113,096
10,831
243,927		 Computer
equipment
£
13,284
3,826
17,110
9,177
2,347
11,524
5,586
4,107
2022
£
14,897
-
67,044
81,941

32

continued...

National Youth Arts Wales

Notes to the Financial Statements - continued for the Year Ended 31 March 2023

13.
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Bank loans and overdrafts (see note 14)
Trade creditors
Social security and other taxes
Other creditors
Accruals and deferred income
Accrued expenses
14.
LOANS
An analysis of the maturity of loans is given below:
Amounts falling due within one year on demand:
Bank overdrafts		 2023
£
-
9,984
6
2,492
107,982
9,000
129,464
2023
£
-		 2022
£
2,687
49,739
9,171
3,689
6,350
4,837
76,473
2022
£
2,687

33

continued...

National Youth Arts Wales

Notes to the Financial Statements - continued for the Year Ended 31 March 2023

15. MOVEMENT IN FUNDS

Unrestricted funds
General fund
Operating Costs Fund Designation
Designated Funds for Musical
Activities
DES Digital Comms officer
Restricted funds
Moondance
Youth Music Incubator
British Council Wales (Stage 1)
Colwinston Trust
Leverhulme Trust
Ty Cerdd
Gareth Churchill
Postcode Community
British Council Wales (Stage 2)
Webber Legacy
Music Ensemble Mitigation Fund
Prizes
Yanc Consultancy Project
NYOW Prize Fund
TOTAL FUNDS		 At 1/4/22
£
204,699
232,990
335,241
-
772,930
6,740
12,426
2,115
7,000
23,805
(437)
(2,250)
4,900
4,733
14,298
-
-
-
-
73,330
846,260		 Net
movement
in funds
£
(111,549)
-
-
18
(111,531)
(6,740)
(12,426)
(2,115)
(7,000)
(23,805)
-
-
(4,900)
(4,373)
434,504
200,000
250
2,403
3,000
578,798
**467,267 **		 Transfers
between
At
funds
31/3/23
£
£
332,572
425,722
-
232,990
(335,241)
-
(18)
-
(2,687)
658,712
-
-
-
-
-
-
-
-
-
-
437
-
2,250
-
-
-
-
360
-
448,802
-
200,000
-
250
-
2,403
-
3,000
2,687
654,815
-
1,313,527

34

continued...

National Youth Arts Wales

Notes to the Financial Statements - continued for the Year Ended 31 March 2023

15. MOVEMENT IN FUNDS - continued

Net movement in funds, included in the above are as follows:

Unrestricted funds
General fund
DES Digital Comms officer
Restricted funds
Moondance
Youth Music Incubator
British Council Wales (Stage 1)
Colwinston Trust
Leverhulme Trust
Postcode Community
British Council Wales (Stage 2)
Arts & Business Cymru
Webber Legacy
Friends of Orchestra
Music Ensemble Mitigation Fund
Music Futures
Paul Hamlyn
Prizes
Yanc Consultancy Project
Bursaries
NYOW Prize Fund
TOTAL FUNDS		 Incoming
resources
£
789,815
-
789,815
-
-
-
-
-
-
-
6,175
456,222
4,200
200,000
6,000
63,834
560
7,650
3,255
3,000
750,896
1,540,711
Resources Movement

expended
in funds
£
£
(901,364)
(111,549)
18
18
(901,346)
(111,531)
(6,740)
(6,740)
(12,426)
(12,426)
(2,115)
(2,115)
(7,000)
(7,000)
(23,805)
(23,805)
(4,900)
(4,900)
(4,373)
(4,373)
(6,175)
-
(21,718)
434,504
(4,200)
-
-
200,000
(6,000)
-
(63,834)
-
(310)
250
(5,247)
2,403
(3,255)
-
-
3,000
(172,098)
578,798
(1,073,444)
467,267

35

continued...

National Youth Arts Wales

Notes to the Financial Statements - continued for the Year Ended 31 March 2023

15. MOVEMENT IN FUNDS - continued

Comparatives for movement in funds

Unrestricted funds
General fund
Operating Costs Fund Designation
Designated Funds for Musical
Activities
Restricted funds
Moondance
Youth Music Incubator
British Council Wales (Stage 1)
Colwinston Trust
Leverhulme Trust
Ty Cerdd
Gareth Churchill
Postcode Community
British Council Wales (Stage 2)
Webber Legacy
TOTAL FUNDS		 At 1/4/21
£
110,746
232,990
348,878
692,614
-
-
-
-
-
-
-
-
-
-
-
692,614		 Net
movement
in funds
£
80,316
-
-
80,316
6,740
12,426
2,115
7,000
23,805
(437)
(2,250)
4,900
4,733
14,298
73,330
153,646		 Transfers
between
funds
£
13,637
-
(13,637)
-
-
-
-
-
-
-
-
-
-
-
-
-		 At
31/3/22
£
204,699
232,990
335,241
772,930
6,740
12,426
2,115
7,000
23,805
(437)
(2,250)
4,900
4,733
14,298
73,330
846,260

36

continued...

National Youth Arts Wales

Notes to the Financial Statements - continued for the Year Ended 31 March 2023

15. MOVEMENT IN FUNDS - continued

Comparative net movement in funds, included in the above are as follows:

Unrestricted funds
General fund
Restricted funds
Arts Council Wales
Moondance
Youth Music Incubator
Joseph Rowntree
British Council Wales (Stage 1)
Arts Council Wales
Colwinston Trust
Leverhulme Trust
Ty Cerdd
Gareth Churchill
Postcode Community
British Council Wales (Stage 2)
Friends of NYOW
ACW
Arts & Business Cymru
Webber Legacy
TOTAL FUNDS		 Incoming
resources
£
502,401
32,532
7,740
26,100
6,810
8,000
74,963
7,000
27,145
2,313
1,500
4,900
10,000
738
11,665
6,175
14,298
241,879
744,280		 Resources
expended
£
(422,085)
(32,532)
(1,000)
(13,674)
(6,810)
(5,885)
(74,963)
-
(3,340)
(2,750)
(3,750)
-
(5,267)
(738)
(11,665)
(6,175)
-
(168,549)
(590,634)		 Movement
in funds
£
80,316
-
6,740
12,426
-
2,115
-
7,000
23,805
(437)
(2,250)
4,900
4,733
-
-
-
14,298
73,330
153,646

Designated Funds

Operating Costs Fund Designation - this is a designated risk reserve that reflects uncertainty around earned income targets and the ability to cover operating costs for just over 7 months..

Designated Funds for Musical Activities - funds designated towards the costs of delivering future musical programmes.

DES Digital Comms officer - funding towards employing a freelance digital communications person to improve the digital communications.

DES learning participation - funding towards improving participation of young people in the programmes offered by employing a learning and participation assistant.

Restricted Funds

37

continued...

National Youth Arts Wales

Notes to the Financial Statements - continued for the Year Ended 31 March 2023

15. MOVEMENT IN FUNDS - continued

Moondance - a grant from Moondance Foundation towards delivering our Cor Skills and Music Futures projects

Youth Music Incubator - a grant from Youth Music contributing towards the costs of trainee staff roles for disadvantaged young people

British Council Wales (Stage 1 & 2) - a grant from British Council Wales for an international digital theatre project.

Colwinston Trust - a grant from Colwinston Trust towards the costs of delivering our Cor Skills project.

Leverhulme Trust - a grant from Leverhulme Trust contributing towards bursaries for young people from lower-income backgrounds.

Ty Cerdd - a grant from Ty Cerdd towards the costs of commissioning new works for National Youth Orchestra of Wales.

Gareth Churchill - a grant towards the costs of commissioning new work for National Youth Orchestra of Wales

Postcode Community - a grant from Postcode Community Trust towards delivering our Music Futures project.

Webber Legacy - This is the fund which is allocated towards bursaries and was received from the WJEC in the year.

Paul Hamlyn - a grant from Paul Hamlyn Foundation towards staff and project costs relating to NYAW's diversity and inclusion work.

Prizes - donations from individual donors towards providing small cash prizes for achievement during NYOW and NYBBW residencies.

YANC Consultancy Project - a business development project funded by Arts Council of Wales's Create strand.

NYOW Prize Fund - received from WJEC for funding prizes for the National Youth Orchestra of Wales.

38

continued...

National Youth Arts Wales

Notes to the Financial Statements - continued for the Year Ended 31 March 2023

16. EMPLOYEE BENEFIT OBLIGATIONS

Amount of contributions recognised in the SOFA as an expense is £6,528 (2022: £5,430). The Charity operates a defined contribution pension scheme for staff. The assets of the scheme are held separately from those of the charity. The contributions are charged to the income and expenditure account and allocated between unrestricted and restricted funds where applicable.

17. RELATED PARTY DISCLOSURES

There were no related party transactions for the year ended 31 March 2023.

18. DEFERRED INCOME

Movement in Deferred Income
Balance at start of reporting period
Amount added in current period
Amounts released to income from previous periods
Balance at the end of the reporting period		 2023
6,350
107,982
-6,350
**107,982 **		 2022
82,557
6,350
-82,557
6,350

39