Future talent Future Talent Musicians Report of the Trustees and unaudited Financial Statements For the Year Ended 31 August 2025 Company registration number-. 11604390 {England and Wales) Registered Charty Number". 1183804 Hughes Waddell The White House 2 Meadrow Godalming Surrey GU7 3HN Future Talent Musicians Contents of the Financial Statements For the Year Ended 31 August 2025 Page Report of the Trustees 1 to 11 Independent Examlner's Report 12 Statement of Flnanclal Actlvlties 13 Balance Sheet 14 Notes to the Financial Statements 15 to 19 Detalled SLqtement of Financial Actlvlties 20 10 21 Future Talent Musiclans Report of the Trustees for the Year Ended 31 August 2026 The trustees who are also di￿lOr$ of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charrty for the year ended 31 August 2025. The trustees have adopted the prowsions of Accounting and Reporting by CharitEs'. Statement of Recommended Practice applicable to charrties preparing their counts in accordance with the Financial Rewrt Standard applrcable in the UK and Republic of Ireland IFRS 1021 leffeclwe 1 January 20191. Ref•ron¢e and Administrative Oelails Presldent: Sir Mark Elder CH CBE TrustO0S: Nicholas Robinson OBE (Chairl Anne-Liese van def Linden Chloe Ortiz Erin Townsend Gregor 8amert John Sendama Jonathan Worsley Katharine Kent Ki&ran Jones Ivice-chairl Krystyna Budzynska Nicolas Butty Peter Haselden Sarah C¢)unler Ambassadors: A￿xander Armstrong Rekesh Chauhan Danielle de Niese Dame Judi Dench CH DBE FRSA Sir James Ga￿VaY OBE Lady Jeanne GaNvay Lesley Garretl C8E Chloé Hanslip Guy Johnston Sheku Kanneh-mason MBE Tolga Kashif Nishal Khan Sting CBE Joby Talbot Chief Executive Officer. Clare Cook Company number: 11604390 Reglstered Charty number: 1183804 Page 1 Future Talent Muslclans Report of the Trustees for the Year Ended 31 August 2026 Rggistergd office: 3.24 Chester House Kennington Park 1-3 Brixton R08d London SW9 6DE Bankers: HSBC Bank Pk. PO Box 26. yo￿. Y001 8XS Independent Examiner: Paul Heuhes FCA Hughes Waddell The While House 2 Meadrow Godalming Surrey GU7 3HN Trustee Changes The following changes lo trustees took place after 31 gt August 2025 but befo￿ the signing date of this report. Peter Haselden (resigned 14th October 2025 Ross Cattell lappointed 14th October 20251 Katherine Kent (died 4kn September 2025) 2024125 Overvlew This has been a defining year ft)r Future Talent. as Future Talent put on our largest concert lo date, worfdwide names like Sheku Kanneh-mason hosl¢d master¢las5es. and our income and reach increased. RISE: Pas( Prnsènt and Futhre Talent RISE was Future Talent's L8ndrna￿ 20th annNersary project, uniting young musicians from low-income backgrounds to create. record. and perform their original MUS￿ on a professional stage. 22 young composers wrote p*ees that were professionalty recorded for a commercial album, curated by Ivor Novello Avrdrd-winner Nitin Sawhney CBE and featuring wodd-class guest artists such as the Halle Orchestra. The album was rethsed acrogs all major streaming ￿atforM$ including Spotify and Apple Music on 11th April 2025. The project culminated in a major concert at London's Roundhouse, hosted by Alexander Armstrong, alongside VOCES8, Seckou Keita. and the National Children's Choir of Great Britain on 22nd April 2025. RISE 98ve over So young muS￿lan8 aged 8-18 and Future Talent Alumni aged 18-25 full end-toend professional Mus￿-MakIng &xperien¢e, fr¢Jn recording studios lo a performance for an audience of 1000 at an venue. wrf(h news of the concert reaching an estimatet12 mill￿n via sc¢ial media, rad￿ and natKJnal M￿118. A year of growth The year unfolded against a challenging funding backdrop. Rising costs. the ongoing decline in stale-lunded music educatKJn. and the lightening of grant-making Criteria have placed enomous pressure on small arts ¢harrties, with sorne trusts n¢M rewting success rates as low as 4.10. Despite this, Future Talent ￿n11n￿ed to grow. increasing annual income to £467.912, rrnre than double our 2020 total. This growth was fuelled by an expanding base ol supporters, new mulli-year partnerships. and the continued k)yalty ot our existing funders. Recognising the importance of marking ¢xJr 20th annNersary with ambrtion and impact, the Trustees made the strategic decision lo invest £45,000 from reserves lo deliver RISE. Page 2 Future Talent Musicians Report of the Trustees for the Year Ended 31 August 2025 This one-off allocation alk)wed us to create a professinal. world4lass project that ￿t on celebfaled two decades ol achievement also provided invaluable devewmenl opportunities for (￿r young MUS￿18n$ that culminated in perfomiance opportunrties at our flagship event. The investment strengthened our Profi￿. attracted new funders and partners, and reinforced the value of the arts as a force for social mobilty and inclusion. This investment has posrtioned us for sustained growth in the years ahead and put us on a stronger footing for the next 20 years. Nged for our SUF4>0rt Demand for our support has never been higher. Applicat￿n$ for 2025r26 increased by 45%. reflecting both the scak of need and the growing recogni(K)n of our impact. The Senior Programme and Skills Serles Listening lo Ihe Vol￿ of our young peop￿ is Central lo everything we do. Through convefsalions, surveys and youth panels, our musicians told us that more tailored support wa5 needed for those aged 16-18- a pivotal slage a5 they begrb to expkNe h￿her education and professional pathways. In response, this year we develLyd a ne•V Sen￿r Programme and Skills Series, ready for launch in 2025126. This five-monlh blended leaming prcxJramme will inrtialty be for 39 young musicians to explore ¢areers ¥ross the creative industrie5 through online maslerclass8$ with leaders from across the industry. With the skills series recorded, these sessions will be available for many musicians in the years to come. The sessN)ns are designed and shaped th our young peop￿. tsking on feedback about who they want to hear fr￿ - from producers, to performers and composers. Looking ahead As we look ahead, our focus is on regK)nal equrty. organisalh)nal resilience, and suslainabilrty, underpinned by a cautious expansion plan and renewed investrnenl in fundraising capacty. In 2025r26, we also pL8n to inlrrxjuce an alumni ambassador programme to strengthen youth VO￿ in our work. provide inspiring role models for our young musicians. and offer continued devel¢Jwnent opportunities to Ilvjse who have graduale(I from our programmes. Objectives and Activities Future Talent's purpose Is lo remove barriers. create opp)rtunities, and harness the power of music to transf￿ lives sin￿ 2004, we have offered finan¢ial awards to cover inslrumenl$, lessons, travel, exams, audthons and music technology. Alongside financol awards, our piogrammes provide mentoring. WorkSh￿s. masterclasses, recording and performance opportunities. We also build communty- a supporb.ve nthork of young mu$icran3, families, rnenlors and alumni. Our Theory of Change identjfies c￿r outputs. outcomes and long4em iMp￿ts.. Outputs." awards. mentoring. worksh(4)s, perfomiances. Outcomes.. impToved musical skills. seff-confidenee. wellbeing. leamwort. resilience. Impact: greater s￿￿11 mots'lty. bng-temi 8mpk)ymenL a more dNer5e mus industry. Page 3 Future Talent Musicians Report of the Trustees for the Year Ended 31 August 2025 Programmgs In 202412025 Future Talent ran tsvo core programmes desyned to support and develop grfted young musicians while listening lo their a$pira￿ns. Development Programmg Our Development Programme supports advanced young musickAns wth tailored cpportunf(ies. In 2024125, 77 participants re¢eNed grants of £1,0(K)-£2.000 alongside one-lo- e mentoring, spec￿lISt masterclasses. regional workshops. and high-profi￿ performance experiences. Junior Pn)gramme The JunK)r PrtyJramme focuses on younger musKk4ns at the earty stayes of Iheirjoumey. While elwJibilty crrteTia mirror those of the Development Programme, ex￿l3th)nS are apled lo age, instrument. and experien￿. Last year, 53 musicians received £500 grants personalised support. including regional workshops, local maslerclasses. and guidance from a dedicated Relationship Manager. What the Awards Cover Each award helps remove finaneol barrièrs by contributing to essentL4 mush?1 costs, Such Specialist lessons and course fees Examination and audition costs Conservato1￿ consu￿atIonS Membership of ensembles and youth orchestras Purchase, hire. or repair of instruments and equpmenl {including lechnologyl Up to 20% of the award may be used for travel to musical aclNities The Trustees and managemenl of the Charity confirm that they give ¢Jue ￿gard to the Charty Commission's genefal guidance on publ￿ lyeneff( when revtewing the Charrty's aims and cbjectives, managing the Charty's assets and making awards lo benefic￿ne5 through our Programm¢s. Appllcatlon Process Applicants are required lo submrt a Musical ApPli￿l￿n IPart 11 Financial Declaration (Part 2). Part 1 assesses their musical ability and commrtment via reeordings and statements, whilst Part 2 assesses their financial eligibilty. A committee comprised of the Re￿t￿?nShiP Manager team, relevant Trustee represenlatwes and external musical professionals. reviewed the applIcat￿nS indNidualty before shortlislino for aUdrt￿n$ which were hekj in London, Manchester, Bristol. Birningham, GLAsg¢)w, Leeds and online. The Finance Commrttee then ￿￿ewS the financial circumstances of those who are re¢omnEnded for shortlisting. Ellglblllty UK Resldent". Applicants have INed in the UK for al least the preV￿u$ three years beforo the point of appli¢*ion. Age: applicants must be under 18 as of 1s1 September of the yearthey are applying. Demonstrate talent: Musicons should be demnstrating spJnthcanl musical ability or potential. Future Talent looks for young musicians who shcp•V a hvJh degree of commitment to their craft, perseverance. and a éesire lo succeed where financial and holistic support will have the greatest meaningful impact. Demonstrate financial need- all applicants are means-tested, and the eligibility threshold is based on the Office for National Statistics average household ineome. Page 4 Future Talent Musicians Report of the Trustees for the Year Ended 31 August 2026 Selectlon Crftsrfa We consKJer the gross annual fami￿ Inc￿ of the household where the child resides, as well as other exceptional finaneial conskleralions (for example dis8bil"ty. mf(igaling Fwsonavheallh circumslancesl. At the second stage. applicants COMp￿te a Financial Declaration outlining Ihwr household income. Further documentary evidence is required to support th￿r declaration once they are InVrt￿ to an audrtK)n. Equity, Diversity and Inclusion {EDI) Equty, diversity and inclusion are cenlial lo Future Talent's purpose. Our vision is of a musicalty inclusNe UK where every young person. regardless of background, ethn￿ty, disability or geography, has Ihe Chan￿ lo realise their full pot￿la1. In 2024125, 51.6Qh of the young musicians we supported identthed as part of the global majority, a continuing rise from prev￿￿$ years and clear evidence that Future Talent's outreach is reaching the cOmmunf(￿ most excluded from traditional routes into music. 48% of our cohort were female, 47% male. 1% non-binary. 8nd 4% undisclosed. Inclusive access and support Awards w¢re ring-fenced for disabled mus￿lanS thrOL￿h our partnership with Open Up Music. ensuring that young disabled musicians COL*d ￿$$ audili)ns. mentoring and instruments. We ￿ljuSted the colours, fonts and lexi syze of our online aPp5￿at￿nS and suNeys to crease readability. The timeline of our applulion period moved up the year. so families know if they have been offefed support before the academic year We continued lo offer travel and aeeommodation support for all programme participants to ensure that no one was excluded due lo financial constraints. 1CK)% of musicians participating In RISE." Past. Present and Futu￿ Talent were provided with full travel bursaries. making the event one of the most inclusNe projects of its ￿le in UK youth must. Events and Perforniances Evènt Highlights In 2024125 Three young mu$Kian$ performed at House of Lords for Trustees, Advisory Group Members. and supporters. Two Meet workshops lo bring together our entire cohort - one al the Royal Northem College of MUS￿ and another at the Roy81 Academy of Music. spe￿aliSt masterclasses with leading artists, includin9 Ashw Fripp Ip￿￿}, ch￿ Hanslip Iviolin}, Sheku Kanneh-mason Icellol, Josh Cirtina Ibrassl. and Benjamin Baker Islringsl, supported by the Royal Over-seas League and WE Charrty. A folk workshop in Bristol with Tamsin Ell￿. in partnership with Wesl of EngLond Music and Arts and the National Chikjren's Orchestra. A K￿Mer worksh¢Jp and Bud￿￿jh MUS￿ Festival perfomBnw by a Future Talent ensemble. reaching over 200 local Schoolchildren in Devon. Our landmark 201h Anniversary Concert al the Rc*Jndhouse, featuring young musicians alongsKle wodd on charitable activities. The expendf(ure ineluded the planned use of £45.000 of reserves, designated for the 20tr annNersary project and events. There were also nel inveslment losses of £5,85612024." gains of £12.1451. T￿1 fvnds as a131 August 2025 were £210,08312024.. £271.4341. Investment Policy and Objectives The Trustees have full power lo invest money and have invested funds in a COIF Charities Investment Fund. as wdl as utilising interest bearing deposit ￿)unts al Redwood and HSBC banks. Unrestricted Reserves 11 is the Charity's intention to devebp a donor base which will allow its Un￿strICted fund lexcluding deS￿nated lundsl. the free reserves of the Charity. to be maintained at a level which equates lo between 65-85QA of the average annu81 un￿tricted expenditure over the current and preceding years. At the end of the reporting period Unrests￿ed reserves {excluding designated reserve$l were £203,749,12024". £217.3261, which represents 610/0. This slight deviation from our policy is the result of a Strateg￿ decision to invest in our Ikgship 20th anniversary proj&t and events. We are projecting to operating within our policy in 202512026. Dosignated Reserves The Trustees may, al their discretion, designate part of the Unrestr￿ted reserves for a part￿ulaT purpose. At the end of the reporting period designated reserves were £nil 12024.. £45,000). Restrktgd ReseNfjs Donors provide funds to the Charty for speCrf￿ purposes, in¢ludiTrJ supw)rt lo individual musicians. These funds a￿ held until they are fulty utilised. At the end of Ihe rekx)rting period restneted reserves were £6,33412024. £9.1081. Page 9 Future Talent Musicians Report of the T￿￿teeS for the Year Ended 31 August 2025 Structure, Governance and Management F￿l￿re Talent is a charitable company limited by guarantee. overseen by Trustees and managed day40-day by the CEO. Staffing in 2024125 included: CEO (1.0 FTEI SenKJr Relat￿)nShip Man4er11.0 FTEI RelalK)nship Managers (London 0.8 FfE, West Mhllands 0.5 FTEI Marketing and Operalsons Manager11.0 FfE) Finance Manager (0.6 FTE) Volunteers 46 volunteers supported events and actNities across the year. Risk Management Trustees reviewed key risks during the year, including.. Financial sustainability.. rising applicatK)ns foi support and pressure on resources. Team capacty." St￿ched by RISE. highlighting the need for phased growth. Fundin9 environment." increaseé shift to invitatson-only trust funding Safeguarding.. robust poI￿leS in place R•crultment ol New Trustees The Irustees appoint new members to the board folbwing interviews and recommendations made. Potential new Trustees ¢8n be found through advertising or recommendations. Acknowledgements We thank all our supporters. 8$￿Ial￿.. Garfield Weston FoundatDn, Liz and Terry Bramall Foundation. Montier CharitabFe Trust, The JJ TrLFsI, The Zochonis Charrtable Trust, teamAr¢hi&, Albert & Eugenie Frost Music Trust. RonnE Scott's Charitable Foundation, The Margaret Engering MUS￿ Trust. The Wggin Charitsble Foundalion. and many more. Above all, we thank the ycyjng Mus￿￿￿nS and families w￿e ded￿tKIn inspires everything we do. Page 10 Future Talent Muslclans Report of the Trustees for the Year Ended 31 August 2025 ststement of Trustees, Responsibilities The Trustees (who are also directors of Future Talent Musicwns for the purposes of company lawl are responsible for preparing the Trustees. Annual Report and the financial stslements in accordance with applicable law and Unf(ed Kingdom Accounting Standards (United Kingd¢Jn G9nerally Accepted Accounting Practice). The law appluble to charities in EngL4nd & Wales requires the tnjstees to prepare financial stalomenls for each finan￿al year which gwe a true and fair Vie•V of the state of affairs of the charty and of the incoming resources and applicat￿￿ of resources of the charty for that period. In preparing these financk41 slatemenls, the trustees are required lo: se1￿1 suitable accounting policies and Ihgn appty them consistently., observe the method5 and principles in the Charities SORP 2019 IFRS 1021., make judgements and estimates that are reasonable and prudent-, state whether applicable a¢￿untIng standards have been folh)wed". prepare the financial slalements on the going concern basis unless rt is inappropriate lo presume that the charity wll continue in operation. The Iruslees are responsible for keeping proper 8ccounling records that di%cbse with reasonable accura￿ al any lime the financral position of the charty and enable them lo ensure that the financial statements compty with the Charrties Act 2011, the Charities {Accounls and Reports) Regulations 2008 and the provisions of the trust deed. They are also responsibLg for safeguarding the assets of the charty and hence for tsking reasonab￿ steps for the preVent￿n and detection of fraud and other irregularities. 20 Jtht Approved byorderof theBoard ofTwsteeson...................... .... .. signed on its behalt by: Nicholas Ro Inson - Trustee Page11 Independent Examinerts Report to the Trustees of Future Talent Musicians Independent exarninerfs report to the trustee5 of Future Talent Musicians ('the Company'l I report lo the charily trustees on my examinalton of the accoun15 of the Company for the year ended 31 A￿Ust 2025 Responslbllltles and basls of report As the charity's trustees of the Company land also ils directors for the purposes of company lawl you are responsible for the preparation of the accounts in ￿Ordance wrth the requirements of the Companies Act 20061.the 20C6 Acl'l. Having satisfied rnyse￿ that the account5 01 the c(￿panY are not r￿Uired to be audited under Part 16 of the 2006 Ael and are eligibSe for independent examination, I report in respect of ry examinatK)n of your charity's accounts as earned out under Section 145 of the Chanties Act 2011 Ilhe 2011 Acl'l. In carrying out my examination I have followed the Direct￿nS given by the Charity CL¥nmi5sion under Section 145151 Ib) of the 2011 Acl. Independent examIne￿S statement Since your chanty's gross income exceeded £250,0￿ y(MJr examiner musl be a member of a listed body. I Can conhrm that l am qualified to undertake the examination because l am a member of the Inslrtute of Chartered Accountants in England and Wales, wh￿h is one of the listed bodies_ I have completed my examination. l ¢onfimi that matters hav& comg lo my attentKsn in connection with the examination giving me cause to believe.. accounting records were not kept in reSp￿t of the Company as required by Sett￿n 386 of the 2006 Act.. or the account$ do not accord wrth those records. or the accounts do not comply with the a¢countiry wuiremenls of S￿tIOn 396 of the 20(E Act other than any requirement that the accounts give a true and fair vieN which ￿ not a matter considered 8$ part of an independent examination", or the accounts have not been prepared in ac£ordance with the n￿thodS and principth of the Slalemenl of Recornmended Practice for accounting and reporting by charities (applicable to charities preparirbg their accounis in a￿ordanCe wilh the Financial Reporting Standard appI￿ab￿ in the UK and Republic of Ireland IFRS 10211. I have tK) concems and have come across no other matters in connection with the examination to wh￿h allenlion should be drawn in this rewt in order to enable a proper understanding of the a￿ountS to be reached. Paul Heighes FCA Hughes Waddell The While House 2 Meadrow Godalming Surrey GU7 3HN Date.. 20 January 2026 Page 12 Future Talent Musicians Statement of Financial Activiti95 {Incorporating an Income and Expenditure Account) for the Year Ended 31 August 2025 31 8.25 Total funds 31.8.24 Total funds Unrestricted funds ReStr￿ted funds Notes INCOME AND ENDOWMENTS FROM Donations and legacies 375,930 24,000 399,930 384,839 Charitsble a¢tiviti Income from Charrtable AclNities 60.464 4,270 Investment inc¢Jne 7.518 7.518 7,040 Total 443.912 24.000 467.912 396.149 EXPENDITURE ON Charitablo activities Expendrture on Charitable ActNi(ies 26,774 523,407 Net gain51llosses) on inveslmenls 5,8561 12,145 NEf INCOMEIIEXPENDITUREI 158,577} {2,774} 161.3511 7,702 RECONCIUATION OF FUNDS Total funds brought forward 262.326 9.108 271.434 263.732 TOTAL FUNDS CARRIED FORWARD 203.749 6.334 210.083 CONTINUING OPERATIONS l income and expenditure has arisen from continuing actNilies. The notes fomi part of these financial ststernenls Page 13 Future Talent Musicians {Rogisterod number. 11604390) Balance Sheet 31 August 2025 31.825 Tolal frjnds 31.8.24 Total funds Unrestr￿ted Restricted funds funds Notes CURRENT ASSETS Debtors Investments Cash at bank 6.926 158.768 59.501 6.926 158,768 85,770 3,114 164,624 26,269 225,195 26,269 251,464 333.884 CREDITORS AmO￿tS falling due within one year 121,446) {19,9351 {41,381) 162,4501 CURRENT ASSErs 203.749 6,334 210 083 271,434 TOTAL ASSETS LESS CURREP LIABILITIES 203,749 6,334 210.083 271,434 NET ASSETS 203.749 6.334 210.083 271,434 FUNDS Unreslrided funds ReStr￿ted funds 10 203.749 262.326 9,108 TOTAL FUNDS 210,083 271,434 The charitable company is enl(tled lo ex￿ptIOn from audi( under Sec*on 477 of the CcKnpanies Ad 2C￿ for the year ended 31 August 2025. The members have not required the company to obtsin an audit of ts financial stslements for the year ended 31 August 2025 in &cordance wth Section 476 ofthe Companies Ad 20(E. The trustees ackn¢Mledge their resp¢Msibilities for lal ensuring that the charrtable company keeps accounting records that compty wth Sections 386 387 of the Companies Act 2006 and {bl p￿paring financial statements which give a true and fair view of the slate of affairs of the eharilable company as al the end of each financial year and of its surplus or deficrf( for each financial year in accordance with the requirements of Sections 394 and 395 and wh￿h otherwise comply with the requirements of the Companies Act 2C￿ relating lo financial statements. so far as appltcabk to the charrtable company. These financial statements have been prepared in aCc¢yda￿e with the provigons applicable lo charitable compan￿$ subject lo the small companies regime. The financial statement were ¥proved by the Board of TrLL5tee5 and authori5ed for issue on . and were signed on Ils behaff by.. N J Rgbins ruslee The notes form part of these financial sl*ements Page 14 Futurè Talent Musicians Notes to the Financial Statements for th8 Year Ended 31 August 2025 ACCOUNTING POLICIES Basis of preparing the financial statements The financial slalemenls of the charitsble company, whKh is a public benefrt entty under FRS 102. have been prepared in accordance with the CharrtJ"es SORP {FRS 1021 'Accounling and Reporting by Charities." Statement of Recommended pract￿ appl￿ble lo charities preparing their accounts in ordance with the Financial Reporting Standard applicable in the UK and Republr of Ireland IFRS 102) leffective 1 January 20191.. Financial Reporting Stsndard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland. and the CompanEs Act 20￿. The financial statements have been p￿pared undec the historical ￿t eonvenlion. Future Talent ML¢sicians is a company limrted by guarantee registered in England and Wales and has use of 'Limiled' exemption. The ￿mpanY$ registered number and registered office address ean be found in the Report of the Twstees. The presentational currency of the financial stalemenls is the Pound Steding 1£). Income and debtors l income is recognised in the Statement of Financial Acltvrties once Ihe charrty has entillemenl lo the funds, rt is probable that the income will be receNed and the arnount be measured reliably. Expenditure and creditors LAbilities are re¢ognised as expenditure as scon as there is a legal or constructive obligali)n committing the charty lo that expenditure, rt is probable that a transfer of econom￿ benefrts will be required in settlement and the amount of the obligation can be measured reliabw. Expendf(ure is accounted for on an accruals basis and has been classrfieil under headings that aggreg8le all cost related lo the category. Where costs cannot be directly attributed to partiwlar headings they have been alk¢ated to activities on a basis consistent with the use of resouices. Grants offered subject lo conditions wh￿h have not been met al the year end date are noted as a commitment but not accrued as expend[tU￿. Taxalion The charity is exempt from corporation tox on ts charitable acbvities. Fund aecounting Unrestricted funds can be used in accordance wrth the charrtable objectives al the discrelK)n of the trustees. Restricted funds can only be used for particular restricted purposes within the objects of the charty. Restnetions arise when specilied by the donor or when funds are raised for particular ¥eslricted purposes. Further explanation of the nature and purpose of exh fund i8 induded in the notes to the financial Statemonts. Pension Costs and other post-retirement benefrts The Charitab￿ company operates a defined contribution pensk)n Sche￿*. Contributions payable to the chariiabk company's pension scheme afe charged to the Statetrenl of Finanual Activf(ies in the perK)d to which they re18te. Current asset investmonts and cash at bank. Funds held in a COIF Charities Investment FLFnd are shown as a current asset investment and measured at market value. Any other liquid frjnds are disclosed as eagh at bank. Page 15 continued... Future Talant Musicians Notes to the Financial Statements - continu for the Year Ended 31 August 2025 INVESTMENT INCOME 31.8.25 31.8.24 Deposit account interest 7,518 7,040 INCOME FROM CHARITA8LE ACTIVITIES 31.825 31.8.24 20th Anniversary event Other events 57,198 3,266 4,270 CHARITABLE ACTIVlllES COSTS 31.8.24 Staff costs Grants to individuals 20th Anniversary event Other programmelevent costs MarketinglPR Office costs Independent examination Other 220.983 112,656 74,067 54.698 31.010 20.612 2.400 171,539 93.158 92,711 13,516 22,757 2,000 4.911 523,407 400 592 TRUSTEES. REMUNERATION AND BENEFITS The trustees r￿1Ved no remunefabon during the year endfjd 31 August 202512024.. £nill. Trustees. expenses There were no trustees. expenses paid for the year ended 31 August 2025 for the year end 31 August 2024. STAFF COSTS The average monthly number of employees during the year vras as follows.. 31.8.25 31.8.24 Management. financial anil adminislralion The numkir of empbyees whose employee beneffts {excludng employer pgnsion costs} exceeded £60,000 was.. 31.8.25 318.24 £60,001 - £70,000 P￿e 16 continued.., Future Talent Musicians Notes to the Financial Ststements - continued for the Year Ended 31 August 2025 DEBTORS.. AMOUNTS FALUNG DUE ￿THIN ONE YEAR 31.8.25 31.8.24 Other deblo Prepayments 1.409 5.517 1,505 1.609 6,926 3,114 CURRENT ASSET INVESTMENTS 31.8 25 31.8.24 IrNestrnenl wlh COIF 158.768 164624 CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 31.8 25 31.8.24 Tr￿le creditors Social security and other taxes Other creditors Charitable comrnitment5 Deferred income Accrued expenses 10,302 4,059 761 2,787 19,600 3,872 7.844 3,060 600 43.000 41,381 62.450 Deferred income comprises grants relating to future accounting PenC￿s. 10. MOVEMENT IN FUNDS Net movement In funds At 31 8.25 Al 1.9.24 Unrestricted funds All unrestr.￿ed funds De$￿jnaled fund 217.328 113,5771 203,749 2f2,326 {58,5771 203,749 Restrlctsd funds All restric.-- fund5 9,108 12.7741 6,334 TOTAL FUNDS 271.434 61,3S11 210.083 Page 17 continued... Future Talent Musicians Notes to the Financial Statements - continued for the Yèar Ended 31 August 2025 10, W)VEM¢NT IN FUNDS- c¢)ntinued Net movement in funds. included in the above are as follows.. Incoming resources Resour expended Gains and Movement losses in funds Unrestricted funds All unreslrirled funds Designated fund 443,912 1451.633 45,000 {5.8561 113,5771 45,0001 443.912 {4%.6331 15,8561 158,5771 Restricted funds Al re5tricl?" funds 24.OLKJ 126,7741 12,7741 TOTAL FUNDS 467.912 1523.4071 5.8561 61,3511 Comparatives for rnovement in fund5 Nel n￿vement li funds Transfers between funds At 31.8.24 At1.923 Unrestrict2e, funds All unrestrded furbd$ DesKJnaled iund 217,306 25.000 20,020 120,0001 20,000 217.326 45,000 242.3( 20.020 262,326 Rostricted funds All restricTr.< 4 funds 21,426 112.3181 9,108 TOTAL FUNDS 263.732 7.702 271.434 CoMpar•kn￿< net movement in fvnds. irKluded in the above are as folkws" Incoming resources Resources expended Gains and sses Movement in funds Unrestri¢tfyd funds Al unrestrip￿Ied funds 387,149 1379.2741 12.145 20,020 Restricted funds All restricted lunds 9,000 121.3181 112,3181 TOTAL f.L'lsDS 3%,149 1400,5921 12,145 7,702 The desigiloted fund set aside the Charity's 20th ann￿e￿ary was ful￿ utilised in the y$aT. Page 18 eonlmued... Future Tal8nt Musicians Notes to the Financial Statements - continued for the Year Ended 31 August 2025 11. RELATED PARTY DISCLOSURES During tho Ji?ar ended 31 AugLTrSt 2025 the charrty receNed uncondiliwal don*ions from Trustees 10 the sum of £13,58012024_' £5.070)_ Thère are no further relaled paty IransactN)ns to discbse. Page 19