Charfty numb•r. 281420 THE INTERNATIONAL YOUTH FOUNDATION (Incorporating European Unlon Youth Orchestra, European Union Youth Orchestra Foundation and European Unlon Youth Orchestra Association) (A Charlty reglstered In the Unlted Klngdom) TRUSTEES, REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023
THE INTERNATIONAL YoufH FOUNDATION (Incorporating European Union Youth Orchestra, European Unlon Youth Orchestra Foundatlon and European Unlon Youth Or¢hestra Assoclatlonl IA Charlty rngl$ter•d In th• unit Kingdom CONTENTS Page Lggal and admlnlstratfve delalls ¢o<halrnien and T¢5. Report 8tatom•nt of rosponsibilitigs of th• Trust Independent Audltors. Report 9-12 Statement of Flnanclal Actfvitles 13 Balance Sheet 14 Statement of Cagh Flows 15 Notès to th• Flnancial Ststements 16-28
THE INTERNATIONAL YOUTH FOUNDATION (Incorporatlng Europèan Unlon Youth Orchestra, European Union Youth OrGh05tra Foundatlon and European Unlon Youth Orchestra A880clatlon) {A Charty r•giyt•r•d in thg unit Kingdoml LEGAL AND ADMINISTrATIVE DEfAILS FOR THE YEAR ENDED 310ECEMBER 2023 The International Ywth Foundation vras established under a Trust Deèd dated 22nd October 1980 {a8 amended on the 318t of March 2004). Tntst•gy Sir John Tusa. Chairman Lesley King-Lewi¥ Martijn Sandèrs IRo$ign•d December 2023) Ms Ewa Bogusz-moore (Joined December 2023) Trnst•• Em•rituJ Robert Abert Foundlng Pmsldènt Justing Bryer, OBE (Passed away on 11 November 2018 Charfty reglsteved number 281420 Piincipal office 16 Canonbury Place London N12NN Audltor Wesllake Clat1( Audrt LLP ststLrtory Auditor Unit 1. West Links Tollgate Bu8ines8 Park Chandlèrs Ford S053 3TG Bankor CAF Bank 25 Kings Hill Avenue. King8 Hlll Wost Malling, Kent ME194JQ Sollcltor Seddon$ 5 Portman Square Lorndon W1H 6NT Page 1
ThE INTERNATIONAL YOUTH FOUNDATION Ilncorporatlng European Union Youth Or¢hoslra, European Union Youth Orchostra Foundatlon and European Unlon Youth or¢htra Assoclatlonl IA Chartty roglst8rnd In thg Unltod Klngdom) CO4HAIRMEN AND TRUSTEES. REPORT FOR THE YEAR ENDED 31 DECEMBER 2023 ORGANISATION GOVERNANCE. INDUCTION AND MANAGEMEpif STRUCTURE The organi8alion is a registered Charity (Registration No.2814201 and 18 govern by a Trust Deed dated 22 October 19801as amended on the 31st of March 20041. The Charity 1$ govemed by a Board of Trustees. The Tte9$ who havo servod during the year and after the year-end are set out on page 1. The Tru$lees are appointed by the board of Trusloes. The Trustee$ meet al lea$1 tsvioe 8 yaar and more fr8quontly wh8n required. lo review actimties, discuss the Trusl's duties as Founder of the EUYO Foundation registered In Ilaty and the EUYO as$ation regis- tered in Au8tria, and other important i8SUe8. RecrUent and r8synation of Trustees follow the Charty's constitutional rulings as presuibed in the Tfust Deed and amendments. UFon appolntment. each Trustee receives a detai18d induction pack in- clu¢Jing a wy of thg constitution, details of recent IYF activity and the latest IYF accounts. At the stsrt 2023 thg Board comprisad three Tru5tee8. including Ctrchaimien. DurirKJ the year, one new TNslee jolrd the IYF Trust, and one C¢halM7an stepped down, leaving the Trust Board ccm- pri5ing three Trustees. inclu(iiThJ one Chairman. Ther8 is currenlty a broad mix of skills amongst Ihe Board of Trustaes including musi. cuKural, commercial, and political bkgroUnd5. The European Union Youth Orchestra {EUYOI is run under the auspices of the IYF, and has been the principal activity ofthe IYF for many years. 2023 began with a development ofthe governance structure of the EUYO Ih8t had been establish8d in 2018, when the EUYO becarne registered in Italy as a Foun- dation {EUYOFI with the IYF as the EUYOF'S Founder. As was noted in the 2022 audit report, this newly developed structure has been created to ensure financial and operational 5tabilty, and advanceforwar thinking artistic development fcf the EUYO in the coming years, and is reported on in detail Imml*telY elow as was noted in the 2022 report that (( would be In the current 2023 audit report. The strwture has invofved the creation of a new leyal vehIe In Austrla. the EUYO A880Ci8tion. Underthese arrangements, the EUYOF Founder IIYFI still retains respon5ibilty forthe appointment arKI revocation ol appointments of EUYOF board mgmbers and d8volvas responsibility for oversng the running of the EUYO activities in Italy lo the EUYOF, but now also has a new Austrian EUYO Associa• tion. this Association having been created following the award of signfficant newfunds from the Austri Federal government and the govemment of Lower Austria. Under this structure, the EUYO AssoGiolDn Exe¢utfve & Artt Dlrttlor and management team, have responsibility for the day-to-day running of the EUYO and of reporting to the EUYOA Board. The IYF CEO reports lo the IYF Truslees. The EUYO Secretary Goneral reports to the EUYOF Board. The IYF CEO has rggular meetings with the Trust Chair and the EUYOA and EUYOF 8oards, and provides d8taikd manag8menl roports to the Tntstees in advance of meetings. The EUYOA management team are the prineipal day to day conduit for supervk%icm of the EUYO'S prcoramme, using effective prOSe$ and go¢d pracllce developed over a number of decades (Ihe EUYO, formerly ECYO, has been developing these processes and practices slnce 1976). Reporting lo the EUYOA Association ExKulive & Artistic Director were a new developed Structure of management team developed in 2023 and consisting of full timg Heads of EXul1Ve & Finance, Conknunicstny & Adv(Y. Development & Philanthropy, and Production, a full lime Execut6ve and Artistr Planning Manager, and a part Ilme Orchestra & National Partner Manager. Tours Manager, a Music Library Manager, and other part time fr884ance project stsff as $pecific prqect supports, 1 linepmanaged by their re8PeCtive department heads and managers. Page 2
THE INTERNATIONAL YOUTH FOUNDATION (Incorporating Europ•an Union Youth 0h8$tr{ European Unlon Youth Orch•stra Foundation and European Unlon Youth 0heStra As$o¢iatit)n) IA Charlty reglster¢d In the Unlted Klngdom) 2023 REVIEW AND PERFORMANCE OVERVIEW 2023 ACTIVITY OVERVIEW 2023 saw 50 EUYOF public evenls (live andlor online). with physlcal perfomiances in Austria, The Czech RepublK. Finland, Gemiany. Greece. ttaty, K¢)sovo, Malaysia, MexKo, the Nelher1ands, North Macedonia. Nornvay. Poland, Romania. and Seibia. EUYO perform8d as EU Cultural Ambassadors in Austria, al the Europa-staatspreis, In Vienna and al the Europ&Forum Wachau. TI Ortheth also provided the musical framework for an event organised by the Italian P8rliament marking one year of the Russian invasion of UkiaSne as part of our Peace in Europe Proiecl., the European Cultural Heritage Summit in Venti., and three performances including a joint EU- Mexican orchestra as part ol the Eu's award as Guest of Honour at the Guadalajara InlematK)nal Book Fr (FIL} in Mexko. EUYO intrcduced naw klnds of concAptual prtrJr8mming: the Cale Bauhaus awards, the EUYO Frontrunnws onle learning yojrarnme. 0 spring lour in east and south&m Europ6 drwen by retionS on demccracy and dimale change. a summer tour exploring new ways to Itheae, and in October the EUYO or9anised a M¢xlel Sharing SymFosium to support the exchange and development ol successful modals for youth orchestros and youth ensembles, as part of the Orthestra's Model Sharing programme. The event was open, partularlY but not exclusivety, to yOLrth orcheytras frtrn 811 CreatNe Europe participabng countrie8 The 2023 EUYO Orchestra wa5 anrbounced in Febry 2023. Three main EUYO ReSkloncle$ and Iwo m8ior tours look place in Europe with resident$ in Luslawice in Poland, Grafenegg in Austria, and Ben0 in ltsly. Major SpriNJ and Summer residences and tours inGluded a worfd premiere of four new concertos as part of the uncerta Four Seasons project, chamber music perfom)ances, and work wilh the L¢)wer Austria Music School$.a$ part of the new Music Hub Austria progranme. Musicians also travelled lo Malaysia as part of a taaching project with young Malaysian musick¥n$.. A hamber Acadery residence look place in Cremona, Italy. Finally, the Aulumn 2023 auditi P0d witnessed a 40% rise in apph'cations. with almost 3500 young musicians throughoul a1127 EU Member Slales competing for approximatety 140 plxes. TV, radio and other broadcgsts included from RAI 2 ('Elegy for Pexe,. 24 Febrtry 2023), the Federal Chancellery of Austria (Europa-slaatspreis award ceremory). N1 & RTS1 Serbia, NPO Klassiek In the Netherfands, SWR 2 Germany, Radio Romania Muzical, and P3W Austria. The Orchestra was praised by the press as 'sen3ationalty gocd. 18edir Morgenpost, 18 August). 'firsl class. (Frankfurter Rundschau. 4 August 2023), 'dignffied Cuttural AftSadOr$ of a united Europe. (Mein8ezirk.a1, 30 July 2023), and of "humantty and genuine arti%try maklingj up the magic elL¥irf (Onllne Ma*er. 17 Augu8t 2023). Page 3
THE INTERNATIONAL YOUTH FOUNDATION Iln¢oTporatlng Europ•an Unlon Youth 0hStra. European Union Youth Orch8stra Foundatlon and European Unlon Youth Orchestra Association} IA Charity regl$tered In the Unlted KSngdom) 2024 BRIEF OVERVIEW A full report of the 2024 events will be produced for the 2024 IYF Accounts Report. However, a brief overview before the year end 2023 can report the followng" The Year began with Discover EUYO 2LY24, an onllne event annoltndng the 2024 Orchestra and events, attended live by over 11X) people and f8aturing contrt&uti¢)ns from Maestro Ivan Fischer. NKola$ Alstaedl, and both returning and new EUYO musiclans. N98rty 50 events aro alraady plann8d, including.. EUYO'S 2024 Spring Tour took pla¢9 in Belgium, under the official L8bel of the Belgkgn Presideney of the EU and included a particularty symbolK and svJnrfunl concert at Bozar, Brussels on Europe Day. 9 May. EUYO programmes included the world premiere of Eutopia, a lour commission frcffi the Belgion comp¢)ser Annelies Pary8. The entire tour was themed around youth, and tha EUYO'S musicians perfomied with three exceptional young laureates of Beigium's Queen Elisabeth Competrtion. The concert forrnats, lasting for one hour aach. were coneeNed to k attractive aTr aceessible for young audiences, and the rehearsal re$idency in Chaderoi ineluded an extensive programme of immersive education and communty work, plus the launch of our new mobile m1¢ Hub Europe communlly programm8 for Yng people. On the 2024 SumrnerT¢)ur, EUYO wlll be perfomilng atcamegie Hall In Newyork USA, as part of Worfd Orchgstra Wgek, a unique celebrion of intemaln0l youth orchestras from Afghanistan, China, South Africa, USA, V8nezu8la, and EUYO representing Europe. The EUYO will also retum lo the Lucerne Festwal, the Edinburgh Festival, B erl i n YourvJ Euro Classic, the Grafenegg Feslval, arbd Boan0 FestNal Bozen. Wth the University of Continuing Education Krems the Orchestra is planning a collaborallon on a research subject and resource into the interrelated topic5 of ofessional skills needed by young musi¢ians today, the soft power of cuf(ural diplomacy. and htr EUYO as a cultural organi5KJn supports environmental. Social, and cultural sustainabilty, The Orchestra will also bsgin a n8w r8lation5hip wrth the aWar(kYnnlrtg Berlin Hangamusik programme working with young refugees, develop MUS Hub Austra. and launch Music Hub Ilalia as a UNESCO Creative City of MUS project in Bolzano. As Cultural Ambassadors for the EU. EUYO musicians are revinvited to provide mustcal interventions at the Europe State Prize of the Federal Chancellery of Austria. the Europ&Fowm Wachau, and the European Cultural Heritage Summrt. EUYO alumni willjoin forces Vth the wodd-fanM)us Budapest Festival Orchestra to pgrfomi 8t the Bridging Europe Fe8tNal in Budgpest aThJ Bru8sel8 during the Hungarian EU Presidency. EUYO alumni teachers wll guide young musicians at RondoFe8t Malaysia. be present in the PAAX Mexiw Fe$tival. and the 'Song for the Earth, Sistema Europa Youth Orchestra Gathering, the latter part of the celebratn$ of Pe5aro Italian Capital af Culture 2024. Commltted to sustainabilty, the Orchestra also performed at ihe ASWS Su$tsinable Development Festival in RcAne in May, and developed f u rl her Café Bauhaus community projects craa18d and managed by EUYO musicians and alumni. Environmentsl sustainability and diversty, equty and in¢lu$k)n policies will include regular intamal arbd oxtemal reporting. as weu as beginniNJ the development of a wellbeing poliw and ptan. The Orchestra's online leamlng programme. EUYO Fmntrunners, w i I l evofve in line with young sicians, digilal eduG*ign needs in the post-pandemtc èra. 11 wll Include YouTube 1gU(s that are cessible to everyone (not only the EUYO wmmunityl., TikTok live participatory events, ako f(Y evoryone., practical livg work for Orchestra m8mbers durirvJ our major presence resIdcles,. and tional additional online resources. Pago 4
THE INTERNATIONAL YOUTH FOUNDATION {Incorporating Europ•an Union Youth 0hstra. European Unk+n Youth OrGhestra Foundation and European Unlon Youth Orchestra Assoclatlonl IA Charfty reglstered In Ihe United Kingdom) EV FUNDING The EUYO finished ts Towards 2030 Phase 1 projocl, begun In January 2021 and ¢OThfunded by tho European Commission's new Creative Europe prcgramme. with support agre8d for th& y&ars 2021 to 2023. A further Towards 2030 Phase 2 project has been awarded funding into the remaining four year5 ofthe current programme. 2024 to 2027. BR&XIT 2023 was the third year of the UK'S full exit from the EU. The EUYO no bnger accepts applications from LIK playars. UK funding for the Orchestra has also ceased, a8 wgs r8POrted in 2021. Whilst f( is deeply rggretted that UK players are no brKJer able lo aUdItn for the EUYO lundor the Orchestra's current ruling of the need foran EU memberslate nationalrty in order lo appty}, it Is clearly the casethat changes consequent on Brexil pose threat lo the continuation or viabilty of the EUYO, and il proposed that thi8 is the final IYF aud Or In whi¢h a note ¢orKeming Brexit r& required. MEDIA COVERAGE EUYO directty issued press release8 for its major Spring and summer tours 2023. and the 'Elegy for Pegcg. sp191 concert on the peOnal Invrtalk)n of Lorenzo Fontana, the Presiderrt of the Chamber of Deputies of the Italian Parfianent. EUYO press contacts number over SOO auoss Eurtjpe, Switzerland, the USA and Asla, and across newspaper pre8$. journals. teFevision and radio. EUYO also h8d the 2023 summer lour featured in the'Das 0hSt9 journal. In addition, EUYO newsletters are sentto a mailing Ilst of ¢)ver 2000 subscrfbers from the general public. Following th8 launch of the new website in JU 2023 and to increase convenienGe forjoumalists, pre8S release$ were acccmpanied by downloadable pres5 krt5 published under euyo.eulprgs$thmedia. In Nr vember 2023, these online resources were further organised into Public arKI Private sectv)n8. ThiB 18 10 facilrtate k)nger lead times in communicating with the press. The Orchestra was broadcastlfealured 10 times. including on RA12. Rodio Romania MLEUI. N1&RTS1 (Serbial, P3TV (Austrial. NPO Klassiek, SWR2. and Canal 44 Imexico). According to Ils anatyti¢s ser- viee Imelthlerl, press mention$ increased by 7% mpared lo 2022. UnsurprF5ingty, total press mon- tion$ evhJenced clear peaks during peric#Js of peak newg forthe Orchestra, with excellent attention being Tn by high-profile EU cultural ambassador events {notably Elegy for Peace. Italk4n Padiament, Fe ruary 2023, and on the occa&on of the EU a8 Guest of Honourat the FIL Guadalajaro internlOnal Book Fair. November 2023). Since May 2023 when a new wmnwnlcalions team lolned the organi&*ion, the EUYO has evolved ts communlcations strategy lo plxe more emphasis on sccial medi8 first. particularly among the young musician audience. and elsewhere al early stages of the marketing funnel Ivtz. building awareness and intsrest). Th18 is becau8e Sccial media has evolv&J from it5 inceptions as digilal pinboards lo bé an important form of prwn¢g in everyday lrfe. Initial rises in engagement reach measured at 300400% during tha 2023 spring lour. while the $ummer tour increased sc¢ial media reach by a further 53 % IFeb)kI. 75 vh Ilnslagraml, 95 % (Linkedlnl and 105 OA (Twitter I X}. Ahhoh free benchmarking currgntly limited to Facebook and Linkedln, we appeared lo be the number ce youth orchestra in t world on both pLfOrn5 al the end of 2023. Post-pandemic with more emphasis on dapicting live events. YouTube has not been prictr6ed in 2023, although Fronlrunners beCarn housgd publidy on this channel lo increase reach. IAnth 8 total of 6486 followers by 12 December 2023, Instagram recovering well from the disaster of its deactNab'on in 2021. The lessons of this experignc8, and some other more mlnor corre¢b'ons and optim1$atn$ the coMmunl0n$t8•n have made in 2¢f23, are principlY twofold.. 1) the inftufjnce and impact of SOCI media presence on brand asxKiations and reputation are anything but trmal.. 21 digital hygiene must be unimpeachablo. Page 5
THE INTERNATIONAL YOLrfFI FOUNDATIOM {Incorporatlng Europ•an UnSon Youth Orchestra, Euroan Union Youth Orch•stra Foundatlon and European Union Youth 0h•stra Assoclatlon) {A Charty reglstered In the Unlted Klngdoml EUYO launched ils new website al the end of June 2023 Énd sLi8tlcs are available from the secoTh halfofthe year. sourced from MatomoAnatyl¢cs119.12.20231. Betsveen JLEty- December 2023. 6uyo.eu receNed a toL21 of $4,174 visits. Compared to last year's 79,343 total vists spread 0$¥ 12 months. this would appear to be a solid performance. In general. 46.2U/o d p8gg are of auditions, followed by the li8ting8 of our homepage113.5%}. our musician8 118.1%). dNerse concerts (2.9tshl. prolects 12.8%}, news 12.6%}, and fundraising pages {1.4%1. This usage is consistent with 2022 pattems on the fomer webse'. 45% aggregated audition page vi$it$. 13.2% homepage and 1.30h projects. FINANCIAL REPORT Since 2018 the IYF has presented a con501idated account to cov8r both its own finances and those of the Italian operatn. In 2023 this was extended to aL80 cover the now Austrkln Asswation. The 2023 con$olided re$uhs indicate that despite a highly challenging fiscal environment in Europe, continuing FosI-pandemi¢ effects, the consequences of the Russkgn invasion of Ukraine, and reduced public funding opportunrf(ies, the consolidated account was able to return 8 mode81 surplu8 of £15,576 from lurnover of £2,148.228. Of this. appToximalely 24'h came fr¢m proie¢t and concert income, 16% from Eu's Creative Europe prcqramme, 40% from headquarters support. just under 12Yo from member state support. and 2% from Sponsorshi) and donatb)ns. This can be consid8red a good result giv8n lh8 tough opering environmont in 2023. The IYF 1$ pleased lo report that thanks to generou8 new 8UPPOrt from the Federal and Lower Austrian govemments and from the EUYO'S existing partner Grafenegg Kutturtetriebsge8.m.b.H, the EUYO - 88 reported briefy above- established a new legal Seal in Grafenegg in December 2022 with the new EurcpearF Union Youth Orchestra Association having cornmenced operations in January 2023. Agreements have been made to consolidate this new fi'nancial support into a mur[year framework, thus ensuring that the cbsing of the EUYO'S actilieS in Ferrara at the end of 2022 did not pose a challenge to the EUYO'S future adivrf(ies. The IYF notes Ihe high significant support providèd lo thè EUYO byth6 Europ8an Unh)n as part of the Europaan Commi5si0n's Creative Europe Programme, and by th9 Austrian Federal Govemment and the Provineial Govemment of Lower Austria ané Grafenegg Kullur as reported above, including local sponsorship support. Addttionalty. the Italian Ministry of Culture continued its SFecial Projacts fijnding. Further support was received from the other member stales of the European Unlon. Jointly thesg Inslilulions and govgmments have made a major contribution to thè financkql security of the Orchestra. Addi(ionally. the EUYO received earned Ir$Me from performances, trust and foUndatft awards, and a variety of small donations. It Should be noted. reinforcing the note from 2022, that whilst the Orchestra's ootivitS have grown in ambition, type and cost over the last half decade. EU and member stale contribution5- except for the high significant new additional support from the EUYO'8 new home in Austrkq- have remained stati for approaching decades. Therefore. whilst the agreemènts concluded with the EU, Austria and Italy have helped shN a good result, the Orchgstra 1$ not compkc8nt as to its n8ods in order lo fully realise ils potential as not only the Eu's CulluraS Ambassador and premier youth perfomiance group, bLrt also as one the worfd's greatest orchestra8 for young people. Due lo accounliThJ poli¢ies lsee note 1.6 on page 171. the accounts translate foreign exchange transactions * the r*e prevailirvj on the date of trdnsaclion {l.e. not necessari at the rate prevailing on the date that the currency is exp8nd8d in the new currency) Page 6
THE INTERNATIONAL YOUTH FOUNDATION (Incorporating European Unlon Youth Orchestr4 European Unlon Youth Orchestra Foundation and European Union Youth Orchestra Assoclationl IA Charlty reglstered In the Unlt¢d Klngdom RESERVES Th& Charty h&J total reserves of £587,654. as at 31 December 2023 of whh £1,0 were in designated lund, £273.233 in restricted funds and the remaining £314.421 unreslrthd. It is the policy of the Trustees lo maintain uThrestted funds as the free serveS of the Foundation, sufficient lo cover the cos18 of management, administration and support for six months. The manag8mgnt, administration and 8UPPOrt ¢osts ¢urrently amounted to circa£316,137 for $X months, representing approximatety 50•A of total reserves. The ongoing funding agreements provido further assurance in this regard. RISK MANAGEMENT The Trustees have undertaken an examination of the major slr*giG, busin&ss and operational risks that the FndatIOn faces, in ¢yder to produce Teports that can xhieve a reduction of such risks. The IYF Trustee board lieve$ that the EUYO continues to be well placed lo mget the organisational, artis- tiq financial and operational challenge5 that have been posed in recent years. No major consequenlral areas of risk are for&sogn, and a high degree of confidence can be indted trj the pr05p8cts for co linued funding from L(Vr Austria. Austria and Grafenegg until at least the erKI of 2025, and from the EU until 2027 fouowing Ihe agreement btheen the EU'S Parliament. Commi$sion and Councl regarding the current Creallve Europe fiJnding programme 2021-27. The Trustees no longer Consider that Brexit repre5ent5 any form of threat to the ongoiro health or perfomiance of the IYF, or the activitios of th8 EUYOF and EUYO, and no further notes regarding this issue will be added in fijture audit reports. PUBLIC BENEFIT In Shaping ils objectives for the ye8rand planning it8 actNilieB. the Trustee5 have con$idgred the Chwtty Commissk)n's guidance public beneffl. The Foundation relies on grants and the income from concert lees and charges lo cover its operating costs. In setting rts budget tho Truslgej ensure am c08ts are covered for ils beneficiaries, to guarantee equal acces$ for all. FUTURE PLANS Given the generic and also particular challenges facing the Orchestra, the EUYO has Continued lo draw up a number of contingent pl8n8 lo ensure conlinuty of aCtlty beyond 2023. Major Spring and Summer tours. chamber music residenciès. online aming. ad hoc preiecls and audiih?ns for yOLtng musicians from all EU member states have been planned, bul all ofthpse athrtie5 al$0 have potential for changg. varying from minor to major m¢dth¢ation$, should cirGumstsnws so require. Pag• 7
THE INTERNATIONAL YOUTH FOUNDAnON Ilncorporatlng European Unlon Youth Orchestra. Euiopgan Union Youth Orchestra Foundatlon and European Unlon yOh Orchostra A880ciation) (A Charlty rnglster•d In tho Unlted Klngdom) STATEMENT OF RESPONSIBILMES OF THE TRUSTeES The Trustees are responsible for preparing the Trustees knnual Report and the financial stslements in aOrdanCe Wfth applicable law and regulations and Unrted Kingdom Accounting Standards (United Ksngdom Genèralty Accepted Aeeountlng Praetlcel. The law applcable to chariti88 in England and Wales requires the Trustees to prepare financial statements for each financial year whkh glve a true and fair view of the stalg of affairs of the Charty and of the incoming resources and appli¢ign of re59urces of the charity for that period. In preparing these financial $tatemenl$, the Truste8s are r8quir8d lo.. yelect suitable a¢countiny policies and then apply thom ¢on$i$tentty,' obsgrvo the m8thod$ and principles in the Charities SORP., make judgements and a¢¢ountirrtJ aslimates that are reasonable and prudent" prepare the financial Gtatemenls on the golig concgm basis unless it is in8ppropri818 to presume that the charity will continue in operation. The Trustees a responsible for keèping proper accounttrvj reccds thal disclose with reasonable accura at any the financial posf(ion of the charity and enable them to ensure that the financkql stalements compty wih the requireffnts of the Trust Deèd. They are also responsible for safeguarding the assets of the charty and hon¢& for taking raasonabla staps for the prevention detectKJn of fraud and other irregularrfaes. STATEMENT OF DISCLOSURE TO AUDITOR a} So far as the Trustees are aware, there is Tr) Televant audit information of vthlch the organlsatlon auditors are unaware. and b) They have taken all the Steps that they ought lo have taken as Truslges in oid8r to make th8msglves awarè of any relevant audit infonnation and lo ¢$tabli$h that the organisalion auditors are aware of that information. This report wa8 approved by the Trustees on 29 Juty, 202481 $igned on their behalf, by: Lesley KingleyS Trust8e The Inlemalional Youth Foundation Sir John Tusa Ctrchaimian and Trustee The Intematwjnal Youth Foundation Page8
THE IKfERNATIONAL YOUTH FOUNDATION Ilncorporating Europgan Unk)n Youth Orchestra. European Unlon Youth Orchostrn Foundation and European Unlon Youth Orchestr Asso¢iation) {A Charlty reg16tered In the Unlted Klngdoml INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF THE INTERNATIONAL YOUTh FOUNDATION Oplnlon have 8udited the con801id8ted financlal gLitements of Ttte Inlemat#)nal Youth Foundation for the year ended 31$1 December 2023 which comprise the $lat•m8nt of financial activitie8 (including income and expenditur8 account), stalemgnt offinancial position, statement ofcash flows 8ThJ the related n¢)tes. induding o summary of signfficanl accounting policies. The financial reporting frnthvork that has been applKgd in their preparation is applKable and United Kingdom Aounting Standards, including FRS 102 The Financial Reporting Standard applicable in th8 UK and R8pubfic of Iroland (Uniled Klngdom Generally Accepted Accounting Practice). In our oplnl¢)n Ihe finan¢k11 statements= give a true and fair vi6w of the stats of the Charity's affairs as al 31st December 2023 and of its in¢omin9 resources and applKalK)n of resourcos, including its inc¢Jme and eXperrture, for the year thon onded.. have boen property prepared in accordance wth United Kingdom Ggnerally AePted AccountirKJ have been propared in accordance with the requirements of the Charities Act 2011. B•Bls for oplnlon We condu¢led i)ur oudrt in accordance wlh Intemational Standard8 on Auditing IUKI (ISAS {UK)> and applicable law. Our responsibililk?s under those stsndards are further described in the auditoffs resptsnsibilitie$ for the audf( of the financk41 statements section of our report. We are Indèpendent of the charity in accor¢lance wtth the ethi¢al requirements that are relev*rt lo our audit of the financk31 stslemertts in the UK. including the FRC'S Ethical Standard, and we have fij1110d our other ethical respon8ibilitie8 in accord8nce with these requirements. We believe that the audf( evidence we have obtained is sufficient and appropriate lo provide a basis for our opinion. Concluslons relatlng to golng concern Vle have nothing to report in respect of the folkwing matters in relation lo which thg ISAS IUKI require U8 to report to you where.. the trustees. use of t going conrn basis of accountiw in the preparation of the financlal slalements 1$ not appropriate.. or the trusteos have not disclosed in the financial statements any Identifi materol uncertainties that may cast signfficanl doubl about the charty's ability to continue to adoptthe going con¢em basis of accounting for a pariod of atlgasl 1ve rrKJnth$ Irom the date when the finala1 statements are authorised for issue. Oth8r Infomiatlon The other infomialion comprises ihe irrformatfrjn included in the annual report, other than financi81 statements and our audilols report thereon. The trustees are responsiblB for the other infomatlon. Our opinion on the financial statements does not cover the othor infonrtalion and, exPt to the extent otheThvi8e explicitly Stat in our report. we do not express any fom of assurance conclusKin thereon. Pe9
THE INTERNATIONAL YOUTH FOUNDATION Ilneorporating Europ•an Union Youth Orchostrn, Europ•an Union Youth 0hoStra Foundation •nd Europgan Union Youth Orchgstra Association) (A Charlty registered In the Unltsd Klngdom In connecllon wrth our audrt ofthe finanual Statements. our responsibilty Is to read the other Infomallon and, in doing so, consider whether the other information is materially in¢onsislerrt with the financkgl 5tatgments or our knowkdgg oblainod in the audit or othe1$9 appears to be materially mi5$1atgd. If we idonlfy such material inconsistencies or apparent material mr6s1al&menls, we are required lo determine whether there is a material misstatement in the financial stalgments or a mater1 misstatement ofthe other information. If. based on the worf( we have performed. we conclude that there is a material misstslemenl of this other Information, we are required to report that fact. We have nothing to report in this regard. Oplnlon$ on othor mattgrs prescrlbgd by Iho Charltlos Act 2011 In our opinion, based on the work undortaken in the course of the audL" the infomiation given in the truslees, report for the financk41 year for which the financial statements are prepared is consi8t8nt with tho financial slatam8nts.' and thg tru$l885' report has been prepared in accordance with Charibe$ Act 2011. Matt•rJ on whlch w• ar• requir•d to r•port by •xc•pllon In the Ighl of the knowledge and understanding of the charity and its emronmenl obtained in the course of the audiL we have not identffied matedal m188talements In the trustees, rewrL We have nothing to report In respect of the foNcMing matters in relation to leh the Charitles Act 2011 adequgte aG(vunting rewrds hove nLrt b88n kept. or returns adequate for our oudit hove not been rK8ived from branches not visited by us., or the financial slalements a not In agreement th the accountlng records and Tetums,. or certain thsc1osu9 of trustees, remuneration spe¢ifÈd by law are not made.. or we hove not reced 811 the infomialion and explanations we requi for cwr audit. Rosponslbllltlgs of tru5tg95 As eXplned more fully in th8 tru88$. 18sponsibiliti&s statement set out on page 8, the trustegs are responsible for the preparation of the financial statements and for king satisfied Ihal they give a twe and fair view, and for such intemal controls as the trustees detemine is necessary lo enable the preparation of financial statement8 that are free frcffi material misstatement, whether due to fraud or errix. In proparing the financial statements, thg trustees are rgsponsiblg for as$g5$ing the tharity's abilty to continu8 as a going concarn, disclosing, as applicab, mattars rdat8d to going conc@m and using th8 going concern basis of accounting unless the trtee$ either intgnd to liquidate the charrty or to Cease ¢)peraticns, or have no realistic altematNe but lo do so. Irre9ularilie8. including fraud. are instances of norFcompliance with laws and regulations. We design procedures in line wrth our responsibilities, outlined above, to delect materid misslatemenls in respect of irregvlari(ie$, including fraud. The exienl to which our prc¢edures are capable of detecting rr8gul¥iti'a$, induding fraud is d8tai1gd below. Pag810
THE INTERNATIONAL YOUTH FOUNDATION {Incorporatlng Eump•an Unlon Youth Orchestra. European Unlon Youth Orchoslra Foundatlon and European Unlon Youth Orchestra A¥soGiationl IA Charfty r•glgt•rod In tho Unltod Klngdom) Our approach to hdgntifying and assessing thg risks of material misstatement in respect of irregularities. inGluding fraud and non-compliance with laws and regUlatN8, was as follows.. the engagement partner ensured that the 6ngtyèment team coll8ctNely had the appropriate competence, capabilities and skill$ to Klentfy or reccgnise non-corrplrance with applicable laws and Ldations., we Identffied the laws and regulations aFplICab to the through discussion$ with the trustees, and from our urKlerstanding and experience of audit issues whh are relevant to charty,. we focused on specffic laws and regulations which we e¢)n3idered may have a direct material effect on the financial statements or the operations of the Ghanty: we assessed Ihg gxtent of coryliance with the laws and regulalbn8 through m8kiThJ frnquirie8 of the management team and in$pectirvJ legal correspondence.. and., Klentrfied law8 and regulations were ccmmunicated within the audit team Tgjularty and the team rgmainod alort lo instances of non4ompliance throughout audlt. Wa a88e88ed tha susc8ptiblthty of the ¢harW$ finan¢k818talemenl$ to material misstatement. irlUding obtaining an understanding of how fraud mvJht gr, by: Audit prttedures undertaken in response to tho potential risk$ rding to irregularities (which indudg fraud and non4ompliance wf(h laws and gulat)nSI which wnprrsed inquiries of management and the Board of Trustees as lo whether the chwty complies with such laws and regulatlons.. enquiries with the same concerning any ¥tual or potential litigation orclaims,. inspection of relevant legal corre5pondence- roview meeting minutes.. testing the appropriateness ofjoumal entries,. and the performance of analytical rgvigw to identify unexpe¢ted movements in account balances which may be indicative of fraud" docum8ntsl)n and review of the intern81 controls over fvndg receNed and *xponditure paid out: sampling and testing both inc(8 and expendllure transactions for 8cGura¢y and completeness. review and audtt based analysis of the undedying accounting records; ch8ckiry and sampling accounting dats back to original souice documents. No instances of material non4ompliance wefft identffied. H¢)wover. tho likelihood of detecting irregularities, iluding fraud, Is limited by the inherent dfficulty In detecting IgularitIeS. the effecllveness of the enlty's control$. ond the nature. liming and extent of the audit procedures performed. Iiregulariiies that resuh from fraud might bg inherenlty more dfficult lo delect than irregularf(ies that result from error. As explained above, there is an unavoidable risk that malgri81 misslatemenls may not be detected. even though the audit hes been planned porfomied in accordanca with ISA$ {UK). Audltorfs rgsponslbllftles forlhe audlt of the flnanclal ststements We have boen appointed as auditor under section 144 of the Charities Act 2011 and report in accordance with regulations made under section 154 of that Act. Our responsibilty is to audtt and exprgss an opink)n on the financial $tslements in accordance wrth applicable law and Inlemational standards on Auditing IUK and Ireland). Ttrnse stsndards require u8 lo cnplY wf(h the Auditing Practices Board's IAPB'S) Ethical Standards for Auditor8. Page 11
THE INTERNATIONAL YOUTH FOUNDATION IlnGorporating European UnSon Youth Orchestra, Europgan Union Youth Orchestra Foundatk)n and European Unlon Youth Orchostra Assoclatlonl IA Charlty r¢olstered In the Untted Klngdoml Use of our rgport This report is ma¢Je sokly tothe charty's member5, as a tM)dy, in accordance with Part 4 of the Chariligs (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the tharity's members those matters we are requlred to slate to them in an auditorfs report and for no other purpose. To the fullest extent pemitted by law, we do not *cept or assume r6spon8ibilty to anyone Other than the charity and th8 charty's members a8 a b¢wJy. for our audrt work. fof this repryt. or for the opinions we have fom8d. Moganardgn Pillay Chefvanaiqum FCCA (Senior Statutory Auditor) Westlako Clark Audil LLP Statutory Auditor Unf(1. West Link8 Tollgate Business Park Chondlers Ford S053 3TG Dale.. 08 108l ?D24 Page 12
THE INTERNATIONAL YOUTh FOUNDATION {Incorporatlng European Unlon Youth 0h•stra, Europgan Union Youth Or¢htra Foundation and European Unlon Youth Orchestra Assoclationl IA Charity rogistsrgd in tho Unitsd Kingdom) STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2023 Unrnstrlcted funds 2023 Total fvnds 2023 Total funds 2022 Nots fund¥ 2023 INCOME AND ENDOWMENTS FROIII: Donation$ and legacies Charitable 8Ctivths 8,698 71,745 12 2.067.773 8,710 2,139,618 13,838 2.072.547 TOTAL 80,443 2,067,785 2,148,228 2.086,385 EXPENDrruRE ON: Raising funds Charitable &tivities 107,064 1,973,292 107.064 2.025.588 88.723 2.002.396 $2,296 TOTAL 62,296 2.080,356 2.132.652 2.091.119 NET INCOME I IEXPENDITURE 28,147 112,571 15.576 {4.7341 NET MOVEMENT IN FUNDS 28,147 15,576 (4,7341 RECONCILIATION OF FUNDS: Total fund8 brought foNArd 245,086 341,854 SB6.740 629.449 Other auStmentS {14,6621 (14,882) (37,9751 Total funds carrfed fornard 16 273.233 314N21 587,664 586.740 l athrties relate to continuwig operations. The Statement of Financial Activitie5 indudes 811 gains b5ses r8cogni¥ed in the year. The notes on pages 16 to 28 form part of these financial statements. Page 13
THE INTERNATIONAL YOUTH FOUNDATION {In¢orporatlng European Union Yotrth Or¢hestra. European Unlon Youth Orehestra Foundatlon and European Unlon Youth Orchostra Association) (A Charlty r•glst•rod in th• United Klngdoml BALANCE SHEEr AS AT 31 DECEMBER 2023 Nots 2023 2022 FIXED ASSETS Tangible fixed assets 11 85,986 86,084 CURRENT ASSETS Debtors". amounts falling due wlhin one y Debtors.. amounts falling due after more than one year Cash at bank and in hand 12 13 14 273.202 130.368 507,098 910.667 449.559 159.647 443.816 1,053.022 CREDITORS: amounts falling due within one year 15 1408.98BI {552,366) NET CURRENT ASSETS 1.669 $00,656 TOTAL ASSETS LESS CURREpif LIA81UTIES 587.654 S86,740 THE FUND8 OF THE CHARITY ReStrted funds 16 273.233 245,086 Unrestricted funds 18 313.421 340,654 Designated funds 16 1,000 1,000 TOTAL CHARITY FUNDS 587,664 586,740 The financial statements were approved ty the Trustee8 on 29 July. 2024 and signed on their behatf, by: The notes on pages 16 to 28 form part of these financial slatemenls. Page 14
THE INTERNATIONAL YOUTH FOUNDATION (Incorporatlng European Unlon Youth Orchestrn. European Unlon Youth Orchèstrn Foundation and Eutopean Unlon Youth Orchestra ArA)clatSon) {A Charlty reglstered th• United Kingdom STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 DECEMBER 2023 2023 2022 Cashflows from opèratlng acthilil•# Net incLYne 15,576 14,7341 Adjustments for. Depreciation adjustment Accruals and prepayments non<ash adju$lm¢nts Non4ash provisions Financin9 cos¢s Taxation Forglgn currerw trlatIon 4,054 1198.185 18,033 1,198 3.171 114,662) 3.803 332,837 16,363 2,192 11,925 137.975) Changes in.. Trade antj other debtors Tradg and other creditors 205.753 1296.248} 16.880 Cash generated from OFeration$ 71.606 45.023 Taxation (3,171) {11.9251 Cash gonerated from I lusthl inl operating actNf(ies 33,098 Ca¥hflow¥ from invg¥tlng 4cllvlllo¥ Purchase of tangible assets Foreign exchan9e1088 on assets {5,5241 1,569 (931) Nat cash used in InstIng a¢tsviti8s (3,965) 609 Cashflows from flnanclng actlvttlos Financing ¢osts 11,198) 12.192} Net cash used in financing actIt {1,198) 12.1921 Nel increase I IdKreaul In cash and ¢a$h equlvalents cash and cash gqulvalents at beglnnlng of year 63,282 443.816 31,515 412.301 C•¥h and cash u1Vabnts at fjnd of yaar 507.098 443,816 Page 15
THE INTERNATIONAL YOUTH FOUNDATION Ilncorporatlng European Unlon yOh Orchestra. European Union Youth Orchostra Foundation and European Unlon Youth OKhestra Association) IA Charity rogistgred In iho Unltsd Klngdom) NOTES TO THE FINANCIAL STATEMEp¥rs FOR THE YEAR ENDED 31 DECEMBER 2023 ACCOUNTING POLICIES 1.1 Bagls of prep&ratlon of flnanclal statom•nts Th88e financkgl ststements have been prepared in accordan with 'kwunting and Reporting by Charrtte8' Slatanent of Reconynended Practice appli)19 to ¢hariiigS preparing Ih8ir accounts in accordancè wi(h the Financial Reporting Standard applicable in the Unrted Kingdom and Republic of Ireland (FRS 102) (SOnd Edition), and the Financial Reporting Standard in the United Kingdom and Republic of Ireland IFRS 1021 and the Charities Acl 2011 and UK Ggneralty Acoepted Practice as il applies from 1 January 2015. These financial 8tatem8nt8 take advanlage of the disclosure exemption ovailabb for qualfying entities, alk)wing Omiss of indivldual entty statement of Cash Flows IFRS102 1.12{bl}. Accountabilty of Europ•an Union Youth Orchmtrn Foundatlon & European Unlon Youth Orch•¥tra Association These finelaj statements have been prepared i1orpOrating the re8u118 of the European Unlon Youth Orchestra FndatIOn & those of the European Union YoLth Orchestra Asscciation. For accounting purposes.. ag the Board Members of Tha Intarnational Youth Foundal¢on retains ulbmate control over the European Union Youth Orchestra FOundat)n'$ operations, ri has been treated a5 a subsidiary and its results have been included wf(hin these financial statements under resliiled Income & Expenditure in accordance wf(h section 5 and 7 respectivety of FRS 102 SORP. Golng Concern The Charty ha8 an 4reement wlh the European Ccmmission forfunding ofÉ2,400,000 lor the years 202427. and an agreement with Grafenegg and the LowerAustrian govemmenL also for the period 2021-2025. which PrOve$ an annual c¢)ntribution towanl ¢onc8rt $ts of É150,000 as well as swjnffieant in-kind 5enCY support. The Italian Ministry of Cumure also provides 8 grant, the most $•3nificant of regular 4reements throughout the EU for EU stale, plus further support from concert promoters. m¢)sl particutaty the Comune of 8olzano. The Board of Trustees therefore has no going concern worms going forward in the years 2023. 2024 and beyond. Whilgt the forecasting for 2024 onwards carries a number of challenges the Orcheslr8'9 eXec1ve has eoneluded new agre*nents for future funding to balance such potential downsides. The B08rd of Trttst8è8 Is therelor8 confident that the executive ha8 contirvJ&rKy plans in place to adjust acb.vty to possible market Conditions and other changes by the pf0visn of new sources of income anWgr reducing actNity and thus expenditure, in order lo onsure th8 ongoing viabilty of the IYF in the coming years. In Sum, the IYF Board of Trustees have no concems for 2024, ond nsider that the ProSpts for 2024 may well be Chalng1ng, bul not in a mannèr that suggests any going Goncem issues. The accounts have therefore been prepared on a going concern basis. Page 16
THE INTERNATIONAL YOLrrH FOUNDAlloN {Incorporating European Unlon Youth Orchestra. European Union Youth Orchostra Foundatlon and European Unlon Youth Orchgstra Association) IA Charfty r•gl$t•rod In th• Unltod Klngdom) 1.2 Incomo and ondowm?nts l incoming resources are included inthe Slalement of FinancialActivities when enlitlemeftt has passed to the charity" it is probab18 that the awnomic benefts assocoted with the transaction will fl( lo the chanty and the amount can be reliably measured. The folliswing speGifiG policie¥ are applied to particular categories of incom&.' income from donatn$ or grants is recognised when there is evidence of 8ntitlawnt lo the gift, receipt is prr)ablo, and its amount can bè measured reliabfy. income from donated seNiees is mèa$ured at the fair value of the services unless thi$ is impractical to measure r8118b, in which case the value is derfved from the cost to the donor or the estimated resale value. Donated facilities and services are rgcognised in the oGcounts when received if the value can be reliabty measured. No amounts are included for the contribution of general volunteets. Income from contracts for the supply of SeIceS is recognised wh the delwery of thg contracted Servicè. This is classrfied as unre$lrided funds unkss there is 8 contractual requiremenl for rt to be 8penl on a particular purpose and relumed rf unspent. in wh ¢ose it may be regarded as restricted. la Exp•nditure Expenditure is recognised on an xcru81s ba8is as a liabilty is Sncurred. Expendrture includes any VAT whlch cannot be ful recovered. and is Gfassified under heading8 of the statement of Financial Actwitvds to whh (t r8lata$.' expendf(ure on raising furKl$ includ9$ the ¢osts of al fundraising actNilies and events. expendrture on charrtable aLliviti88 includes all c08ts incurred by the charty in under- taking activiligs th further Its chaiitable aims for the benefit of fts beneficiaries, includ- ing those support costs and $ts relating to the governance of th8 charity apportioned to charitable actsmties. expenditure In re8P&t d orchestral tours is renised in the period in whlch the tours te place. 1.4 Tanglble flxed assèts •nd dgproCiJtion Ccnputgr equipment Fixtures & rIng$ Musal equipment soo Slraight line 200h reducing balanco 20% straight line Certain musical instruments, such as doubl&bases, are considered works of art which have infinite useful lives and are likety lo appreciate in valuè. therefore no depreciation 18 provKJed for and Ihgy are stated at cost at the balance sheel date. 1.5 L8as•d assets All leases are 'operatino leases.. Rentsls under operating leaws aT8 charged to the Slalement of Financial Activities on a 8trab3ht4ine basls over the lease lemi. 1.6 Fornlgn curr•ncles 1kn¢t assets and liabilities denomin81ed in foralgn currèncles arÈ translotod into steding at rates of exchange ruling at the balance sheet PLtblk8hed on thg European Page 17
THE INTERNATIONAL YOUTH FOUNDATION n)orItIng European Unlon Youth Orchestra. European Union Youth Orchestra Foundation and European Unlon Youth Orchestra Assoclatlon) IA Charfty rnglstered In the Unlted Klngdom) Commission website. This rale 18 calculated a8 the average rate of exchange ruling in the month previous to the Balan Sheet dale. Transactions in foroJn currencies arg translalod into Sterling at the rate ruling on the date of the transaction publishod on the European Commissh)n webstte. This rate is calculated as the average rate of exchange ruling in the month prewous to tl)e Irans8don date. Foreign currency sterling purchase transaction5 are racord8d at the rate of èxchange ofthe transactions #$ detemined by the financial Inslllutlons. Exchange gains and losses are recognised in the Statement of FinaNal Activities. 1.7 Deferred In¢omlng r•SOu The Orchestra submits and makes income ckqims lo governments and ministries in advan in order lo be eligible for grants to be received lo fund events in futu periods. These grants ar8 tréated as deferred income and recogni8ed a8 a liability until Ihe conditions for use have been met. 1.8 Unreslrlctod and dfjslgnat fund$ Restricted funds ere subject to restrictions on their expenditure imposèj by the donor or through the terms of an appeal. All restricted fund$ held by the charity have Ihe r68triction that they may onty be Spent on the European Union Youth Orche$lra. Unrestricted funds are avail•le for use al the discretion of the Trustees wi furtherance of the general obje¢tive$ of Ihe charty. Designated fund8 are funds which the Trustee¥ have detemilned to de81gnate for a 8peclfic purpose. The Truslees reserve the Tvjht lo alter or change such designation in the future. 1.9 Flnanclal Instruments A financial asset or a fInanCk liability is recognised only whgn the Charity b0M89 a party to the contractual provisions of the instrument. Basic financial instruments are initialty rttognised at the amount receivable or payable including any related transtiOn costs. Current a88ets and current liabilities are 8ub5equenlty measured at the cash or other con81deratlon expected to be paid or recgrved arKI not disc(nted. Dgbt instruments are subsequentty m&qsured at amortised cost. Fina131 assets that are measured at eost or amDrtL8ed cost are revi•vd for objective evKJence of impairment al the end of each reporting dale. If there is objective evidence of impaimient, an impairment los$ is recognised undÈr th6 apprcprkate heading in the Statement of financial actNities in whKh the initial gain was recc*Jnisad. Page 18
THE INTERNATIONAL YOUTH FOUNDATION {Incorporntlng European Unlon Youth Orchestra. European Unlon Youth Orchestra Foundatkn and Eurnp•an Union Youth Orchestra As$oclatlon} IA Gharlty r•glst•rod In th• Unlted Kingdom} 1.10 Judgements and key sources of estimtion uncortalnty The preparation of the financial statements requires management to moke judgement8, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually revieNed and are based on experience and other factorB, including expectation8 of fvture event$ that are believed lo be reasonable under the ircumstances. DONATIONS AND LEGACIES 2023 2022 other donation8 8,710 13,838 8.710 13,838 INCOMING RESOURCES FROM CHARITABLE ACTivftlES 2023 2022 (>)vernmenl grant rKeNable (Note 41 Grant receivabl8 from Italian Ministry of Culture {Notg 41 Grant receivable from Austrian authorities {Note 41 Sponsorships {Note 5) Corporate contributit 5) Other income (Note 6) 655.888 67.843 608,851 6.089 950.511 213,190 59,693 849,153 757.358 2.139.618 2,072,547 Federal Mlnlstry. Art and Cufture. Publlc Servlce and Sport of Austria •nd LoworAustrian Govemment The Sltssidiary EUYOA recefved an annual contribLrtion of VOO,00012022'. ÉNR) towards its cultLtral adiwlEs from Federal Ministry, Art and Culture, PubliG Service and Sport and É150.000 {2022.. ÉNill from the LvuerAuslrian gov8mmont toward$ rts cultur81 adNities. This is discbsed as grant receivab from Austrran authorities as above. Mlnlstry of Culture- haty The subsidiary EUYOF received an annual contribution of f18,000 {2022= Q50.000} towards 116 cumural aclivf(ies from Ministero della Cuttura {MiC). This is disclosed as grant receivable from Italian aLrthoritRs a8 at*)V& Pag8 19
THE INTERNATIONAL YOUTH FOUNDATION Ilncorporatlng European Unlon Youth Orchestra. European Unlon Youth Orchestra Foundatlon and European Unlon Youth Orchestra Assotlationl (A Charity r•gistor•d in tho unit Kingdom) GRANTS RECEIVABLE 2023 2023 2022 European Commtssion Ilaly Spain Finland Germany Sweden Austria The Netherland8 Greece Czech Republi Poland Romanoa Shjvakia Denma Malta Cyprus Luxembourg Portugal Belgium Flemish Estonia Hungary Lafvia Slovenla 3S1,139 78,000 26,450 23,000 20,000 14,880 850,000 18.500 13,600 15.000 15,000 15.000 11.5Th) 10,750 9,000 6,500 10.650 12.31)0 8,000 6,500 305.416 67,843 23.006 20,005 17,396 12,942 739,319 16,091 11,829 13.047 13,047 13,047 10,003 9,350 7,828 5,654 9,263 10.699 6,958 5,664 4,648 4,349 2,435 724.847 213,190 22,556 19,613 17,055 14,113 14,497 15,776 11,598 12,791 12,791 12,791 9,807 9,167 7,675 5,543 5,*9 10.488 6,822 5,543 4,417 4,264 2,388 5,000 2,800 1.332,582 1.163.701 Page 20
THE INTERNATIONAL YOUTH FOUNDAnON (Incorporating European Unlon Youth Orchestra. European Unlon Youth Orchestra Foundatlon and European Unlon Youth Orchestra Assoclatlon} (A Charfty roglstered In th• Unlted Klngdom) SPONSORS 2023 2022 Corporate contrlbullon 43,489 59.693 43.489 59,693 OTHER INCOME 2023 2022 Donations in kind BrLxhures aertISing Concert promoter8 and broadcasting receipts Sundry othèr Income 289,927 212.827 1.876 525.817 1 D8.633 469,679 762 767.358 849,153 ANALYSIS OF RESOURCES EXPENDED BY EXPENDrruRE TYPE Staff costs D•pr•ciation OlhoT costs 2023 2023 2023 Total 2023 Total 2022 Fundraising and publtcty Direct charitsble Sl,600 246,626 590 1358 48,874 107.064 1.776.604 2.026.588 88.723 2.2,36 304,226 2,948 1.826,478 2.132.652 2.091,119 Page 21
THE INTERNATIONAL YOUTH FOUNDATION Incorporatlng European Union Youth OrGhestrJ, European Unlon Youth Orchèstra Foundatlon and European Unlon Youth Orchostra Assoclatlon) IA Charlty reglst•r•d In the United Kingdom) othor costs 2023 2022 Concert expenses Brochures Accommodation and subsistence TTgvol Premises Fundraising and markoting Communications Legal and profe8SK)nal Auditors remyneralion.. audit fee Auditors remuneration: grant audit Offtt costs Miscellaneous eypenses Trustse8 expenses Exchange difference8 L08888 and contingent liabilli88 Income tsx and VAT 646,186 7.879 S58.140 200.096 569,829 17,338 636.242 309,974 1.938 7,423 4,241 50,028 4,921 6,750 156,616 39.109 1,428 4.680 213 11.925 16,949 6.419 85.180 16.220 232.069 60.362 4A73 13111 3,171 1I26A78 1.822,655 Trustees expense5 consist of travel and accommc<lati¢2n expenses incurred in retation lo the Spring & SLbmmer Tours. CHARITABLE EXPENDITURE 2023 2022 Orchestra Support costs Depreciation 1.382.887 1,513,395 485,959 3,042 2,358 2,025,588 2.002,396 Page22
THE INTERNATIONAL YOUTH FOUNDATION (Incorporatlng European Union Youth Or¢he$tr•, European Uni¢n Youth OrGh•strn Foundation and European Unlon Youth Orchestra A880clatlon) IA Charlty rnglst•red In the Unlled Klngdoml ANALYSIS OF SUPPORT COSTS Ralslng Charltable funds Tolal 2023 Total 2022 100,400 100.400 959 1.198 287,248 306,786 246.626 304,226 325 1249} 4.834 61,699 2,192 217.336 264.661 1,938 4,680 Finante Office and adminislratton costs Salary costs Establishment costs Exchar48 differencas other overheads 239 19.638 57.61M> 131 162 (Note 101 {311} 4,834 77A46 640.343 717,789 552,506 Th8 basis of Sllocation of 8LPPQrt costs is detailed in note 1.3. 10. STAFF COSTS 2023 2022 Slaff costs were as folkms.. W4es and Salaries Social 5ecurty Gosts PensK)n 236,972 51.024 16.230 221,691 25,193 17.777 304.228 264,661 The averap weekty number of empk>yees during the year was as follows: 2023 No. 2022 Raising fund5 Direct charit*le Pagg 23
THE INTERNATIONAL YOVTH FOUNDATION {Incorporatlng European Unlon Youth Orchestra. European Unlon Youth Orchostra Foundatlon and Europgan Union Youth OTchestra A8soclatlon} (A Charity rogigterod in the Unlted Klngd¢)m) The number of employees who$8 annLFal amoluments lex¢bJing Employers, National Insurance ConlribLrtions and penswJn contributions) exceeded £6LI,000 in the year was.. 2023 2022 No. In the band £60.000- £70.000 In the bond £70,000- £80,000 PensK)n contributK)ns were made by the orchestra lo 2 employeeg annual emolumgnts excoeding £60,000. Th8so ¢onttibul*)ns were to a defined contrlbution scheme and totalled £16,230 in the year (2022.. £17.7771. The Charty considers its kgy management personnel Comprise of the Chi8f Executiv8 Officer, Executive & Finance Manager, Projects Manager, Tours Manager and an Orchestra Manager. 11. TANGIBLE FIXED ASSErs Computer ulpment Flxturos, flttlngs •nd office equipm•nt Musical •quipment Total Cost At 1 January 2023 Addition8 29,128 50,938 5.524 78.86S 168,931 5.624 At 310ecember 2023 29.128 56.462 78.865 164,456 Depreciation At 1 January 2023 Charge for year 26.663 517 37,172 2.392 7,472 1.145 71,307 4,054 At 310ecember 2023 27.180 39.564 8,617 75,361 Foroign exchange g8lnl(loss) 1694) (8,373) 5.958 13.109 Net Book Value At 310eeember 2023 1,254 8,525 78,206 8S,985 At 310ecembgr 21722 1.791 5.474 78.819 86,084 Page 24
THE IpifERNATIONAL YOUTH FOUNDATION Ilncorporatlng European Unlon Youth Orchestra, European Unlon Youth Orcho5tr* Foundation and Eurowan Unlon Youth Orchostra Assoclallon) IA Charlty reglstered In th• Unit•d Kingdom) 12. DEBTORS: Amouiifs FAWNG DUE WITHIN ONE YEAR 2023 2022 Income debtors Other debtor8 Prepayments and 8c<xued irKomg &Kial socurity and other tax9$ Grants recelvable 8.637 1.645 6,58S 11,L)00 35,598 224216 33,742 398,232 m,202 449,559 13. DEBTORS: AMouKfs FALLING DUE AFTER MORE THAN ONE YEAR 2023 2022 Grants reGeNab 130.368 159,647 CASH AT BANK AND IN HAND 2023 2022 Cash al bank Cash in hand 499.199 7,899 435.917 7.899 507,098 443,816 The above lolal includes a balance of £266.034 {2022.' £71.4411 In respeet of the European Union Youth Orchestra Foundation. based in Rome. Italy & g balan¢9 gf £182.424 {2022'. £354,772} in respxt of the European Union Youth Orchestra Ass(1#t10n, based in Grafenogg, Austria. Page 25
THE INTERNATIONAL YOUTH FOUNDATION {IncorpoAting European Unlon Youth Orchestra, European Union Youth Orchestra Foundation and Euroan Vnlon Youth Orchostra Assoclatlon) IA Charity reglstered In the Unlted Klngdom} 15. CREDrroRS' AMOUNTS FALUNG DUE WITHIN ONE YEAR 2023 2022 Amounts falling due within one year Trade creditors Social curity and other lax8S Other ¢1Or$ AC¢nlS and deferred irKome 76.054 118,209 37,738 176,987 101.788 43.731 31.801 375,046 408,988 552,386 16. FUNDS OF THE CHARITY Brought Incomlng RKourc8s Other Carrfed forward resources expended adjustments forward Rostrlcted funds EUYOF I EUYOA 245.086 152,2961 273.233 Unrostrirtod funds 340.654 2,067,785 12,080,356) 114,662) 313,421 Oeslgnated funds Liond Bryer Memorial fund 1.000 1,000 586.740 1148.228 12.132,652) 114,6621 587,654 16.1 CREATIVE EUROPE Creative Europe funding is gwen by the European Commis$ion'$ Crg*N8 Europe Pan- European cuKural entlties programme {2021 20231 as support for the aclNitie8 of European Union YoLrth Orchestra. 16.2 NATIONAL FUNDERS Annuol grarts donated by EU Member stat&s twards the acbvity oftho Eurcpean Union Youth Orchestra. 1&3 UONEL BRYER MEMORIAL FUND This 18 a re8eNe which cannot b8 freety spent by the charlty because11 is cLYnmitted to a $pecrfK purpose as detennined by the Trustee5: 10 sUPPOrt a young musician lor musicians) who has demonstrated huge musical tabnl and potential, but whose development and career would benefit greatly fr(Yn financial assistsnce. Page 26
THE INTERNATIONAL YOUTH FOUNDATION (Intorporntlng European Unlon Youth Orchestra. Eur¢pean Union Youth Orchestra Foundallon and European Unlon Youth Orch6stra A¥soclatlon) (A Charity r•gistsr•d in th• Unlted Klngd¢m) 17. ANALYSIS OF NET ASSETS BETWEEN FUNDS Réstrict Unrestri¢l•d DIgnated funds fund8 funds 2023 2023 2023 Total funds 2023 Total funds 2022 Tangible fixed assets (Note 111 85,985 85.985 86,084 Curi8nt assets (Nots$ 12 10 14) 258,446 651.211 1,1)00 910.857 1,053,022 Credrtors due within one year (Note 151 1408,9881 {408,988) 1552,366) 258.446 328.208 1,01)O 587.654 586,740 18. CAPITAL COMMITMENTS No capital expenditure was authorlsed or contractéd ft)r at the balance Sheet dale. 19. OTHER MATERIAL COMMITMENTS IN RESPECT OF CHARITABLE PROJECTS Plaase refer to page 7 {cchairmen and TTuslees' Report) in respect of future plans of the Charity. In ling with th8 reserves polKy of the Chanty, and as a matter of good pra8. no financially binding commitments have b88n 8nt8r8d into which might jeoparéise the financial of the Charity in the event of non-receipl of any currenlty Un8Ured funding. TRANSACTIONS WITH TRUSTEES AND RELATED PARTIES No remuneration was paid lo any Tte8 durin9 the financial year 2023 {2022.. £Nill. T¢)tal sum paid in Truste8$' expenses for the year, in x¢ordance %wth the Trustees. Expenses Policy, wa$ £4,473 12022.. £1,428) for reasonabb and necessary travel ¢0sts. accommodatk and subsiSt8nc8 in carrying out Ihair responsibilities as Trustees during the ye*. 21. NOPWONEfARY INCOME AND BENEFITS Accommcéatlon. subslstence, travelling and ctsnrt expenses in respect of certain coneerts We paid diredty by the hosting organi¥ation¥. The monetary value of such benefi15 for thi¥ peri has b6èn assèssed by the Trustees and is included in thes8 financial statements as both incoming resourees and applutton of r8s<>urces. Page 27
THE INTERNATIONAL YOUTH FOUNDATION Ilncorporatlng Europgan Union Youth Orchestra. European Unlon Youth Orchestra Foundatlon and Europwan Union Youth Orchestra Association) IA Charlty rnglstered In the Unltod Klngdom) MANAGEMEKf TEAM The Co-chairmen of the IYF chair and one Trustee are members of the EUYOF Board of Directors. Two Truslg9s of the IYF are members of the EUYOA Board of Directors. Marshall Ma$, is th8 appnted Secretsry General of the EUYOF and thè ExecutNe and Artistic Director and a member of the Board of Director5 of the EUYOA. and the Chief Executive Officer of the Page 28