COMPANY REGISTRATION NUMBER: 01611491 CHARITY REGISTRATION NUMBER: 285831
Music for Youth
Company Limited by Guarantee
Unaudited Financial Statements
31 March 2025
Music for Youth
Company Limited by Guarantee
Financial Statements
Year ended 31 March 2025
| Page | |
|---|---|
| Trustees' annual report (incorporating the director's report) | 1 |
| Independent examiner's report to the trustees | 9 |
| Statement of financial activities (including income and | |
| expenditure account) | 11 |
| Statement of financial position | 12 |
| Statement of cash flows | 13 |
| Notes to the financial statements | 14 |
Music for Youth
Company Limited by Guarantee
Trustees' Annual Report (Incorporating the Director's Report)
Year ended 31 March 2025
The trustees, who are also the directors for the purposes of company law, present their report and the unaudited financial statements of the charity for the year ended 31 March 2025.
Reference and administrative details
Registered charity name Music for Youth Charity registration number 285831 Company registration number 01611491 Principal office and registered CBSO Centre office Berkley Street Birmingham B1 2LF The trustees John Dixon (Resigned 4 December 2025) Elizabeth Hutchinson (Resigned 4 December 2025) Florence Ambrose (Appointed 17 January 2025) Christopher Brown (Appointed 4 November 2024) Simon Bull Isabel Churcher (Appointed 13 June 2024) Antony Harris (Appointed 22 September 2025) Collin Hills Judith Kingston (Resigned 1 January 2025) Alexandra Merckx (Appointed 13 June 2024) Charlotte Moor (Resigned 6 September 2024) Jonathan Pelluet Samantha Stimpson (Resigned 13 June 2024) Chief Executive Officer Phil Castang MBE Independent examiner Mrs K Squire ACA The Barn, Meadow Court Faygate Lane Faygate Horsham West Sussex RH12 4SJ
1
Music for Youth
Company Limited by Guarantee
Trustees' Annual Report (Incorporating the Director's Report) (continued)
Year ended 31 March 2025
Structure, governance and management
a. Governing document
The charity is a limited company limited by guarantee, as defined by the Companies Act 2006, and is controlled by its memorandum and articles of association. It was incorporated on 4 February 1982 and registered as a charity on 24 November 1982. The company was established under a Memorandum of Association which establishes the objects and powers of the charitable company and is governed under its Articles of Association. The company is allowed to have up to ten members. In the event of the company being wound up, each member is required to contribute an amount not exceeding £5.
b. Methods of appointment or election of Trustees
The directors may from time to time co-opt a director, either to fill a vacancy or as an additional director, until they are formally appointed, or otherwise, at a general meeting. In addition, the directors shall retire by rotation at each AGM. They shall, if willing to act, be deemed to be reappointed unless at the meeting it is resolved not to fill their vacancy, or unless a resolution for the reappointment of the director is put to the meeting and lost.
c. Organisational structure
The Chief Executive reports to Music for Youth's trustees through quarterly board meetings, as well as by providing frequent updates on management accounts and business plans. The organisation also operates with three sub- committees, focusing on Audit & Risk, Programme Oversight, and Fundraising. Furthermore, a Senior Management Team, consisting of the Chief Executive, Director of Programme, and Director of Development, convenes weekly to steer the organisation's growth and direction. Additionally, the Programmes and Communications Teams hold regular meetings, along with weekly online staff meetings and periodic whole-team Away Days to foster cross-team collaboration.
d. Induction and training of new Trustees
Trustees are regularly briefed on their legal obligations and meet key employees and other trustees. They are regularly provided with management accounts, business plans and relevant governance documentation.
e. Risk management
The Board carries out regular reviews of the risks facing Music for Youth through its Audit & Risk Subcommittee and is committed to actively managing risks. The trustees have examined the major operational risks that the charity faces and confirm that systems have been established to enable regular reports to be provided so that the necessary steps can be taken to mitigate these risks.
2
Music for Youth
Company Limited by Guarantee
Trustees' Annual Report (Incorporating the Director's Report) (continued)
Year ended 31 March 2025
Objectives and activities
The objects for which the charitable company was established are to advance the education of the public and especially young people in all branches of the arts and in particular in music.
a. Aims
Music for Youth is a national youth music charity working with young people aged 25 and under across the UK. Our mission is to ensure every young person in the UK can achieve their musical potential by performing the music they love. We believe that music, and the chance to participate in high-quality musical activities, should be open to every young person. We are proud to support future generations of musicians, composers, songwriters, performers and producers and we do everything possible to remove barriers to participation.
Each year, Music for Youth engages thousands of young musicians from across the UK. Our professionally produced festivals serve as national showcases, celebrating excellence in musical performance and ensemble teaching. The season begins with the Regional Festival an open-access journey that welcomes participants of all abilities and culminates in the Music for Youth Proms at the Royal Albert Hall. Mentoring is a vital part of the Music for Youth experience, supporting musical development at both regional and national levels. Our annual programme offers a rich and evolving portrait of young people's musical interests and patterns of engagement.
Participation numbers have been steadily growing, and we are encouraged by the demand for our activities during what has been a challenging time for the music education sector. With our National Portfolio Organisation (NPO) status comes a refreshed emphasis on ensuring equitable access for all which will see us working in Arts Council Priority Places and Education Investment Areas.
During the 24-25 season our activities benefitted over 30,000 children. 1,063 groups took part from across the UK. 48% of groups came from Arts Council England Levelling up for Culture places.
The charity activities are structured around three objectives:
ACCESS - to enable young people from all backgrounds and of all abilities across the country to participate in live music-making.
TALENT DEVELOPMENT - to support talent development and showcase the brilliance of young musicians across the UK.
BROKERAGE - to broker artistic collaborations and partnerships between artists and music education organisations.
3
Music for Youth
Company Limited by Guarantee
Trustees' Annual Report (Incorporating the Director's Report) (continued)
Year ended 31 March 2025
Objectives and activities (continued)
b. Public benefit
The trustees confirm that they have had due regard for the Charity Commission guidance on public benefit. Through the objectives and aims of the charity as detailed above, the charity has met its objective as a public benefit organisation to provide opportunities which advance the education of the public, and especially young people, in all branches of the arts and music in particular. The charity has benefitted the wider public through presenting and promoting showcases, performances and festivals by and with young musicians.
Further detail on the charity meeting its public benefit obligations can be established from the information within the achievements and performance of the charity in this report.
Achievements and performance
2. Achievements
The 2024-2025 season presented an expansive series of inclusive events in parallel to our core programme. These bold new projects galvanised our partners improving reach and profile.
a. Charitable activities
Highlights of 2024-2025
-
New Commission: by composer Cassie Kinoshi and poet Belinda Zhawi, commissioned in partnership with BBC Ten Pieces, ABRSM and Royal Albert Hall. Performed by 2,273 young people at the Music for Youth Proms, as part of the BBC Ten Pieces Creative Project.
-
Frequencies Music Video Festival: at the Midlands Arts Centre in Birmingham, the festival empowered young independent filmmakers, producers, and musicians to tell their stories, no matter who or where they are. Winners were selected by a jury of industry experts.
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Together for Music: A new festival in collaboration with Trinity College London, showcasing the brilliance of young blind, d/Deaf, neurodiverse, and disabled musicians from across the UK. This event is designed to improve access for young musicians facing the biggest barriers to participation.
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Music for Youth on BBC One's The One Show: Major coverage of MFY's Regional Festival,
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highlighting the incredible work music teachers do through our 'Thank Your Music Teacher' campaign.
4
Music for Youth
Company Limited by Guarantee
Trustees' Annual Report (Incorporating the Director's Report) (continued)
Year ended 31 March 2025
Achievements and performance (continued)
Core Programme and main areas of charitable activity in 2024-25 were as follows:
National Festival - July
The event showcased live performances from the next generation of young musicians, dynamic fringe stages, interactive workshops with industry professionals, the Frequencies New Music Residency, a specially curated Youth Citizens' Assembly, and inspiring showcase concerts throughout Birmingham. 8,723 young people took part in 208 groups. Primary Live is an hour-long interactive concert for KS1 And KS2 pupils with performances by young people, for young people. The concert was extremely popular and ticket demand was exceptionally high with just over 2,000 young people attending from schools across Birmingham and the West Midlands.
MFY Proms 2024 - November
The Music for Youth Proms was our most ambitious ever. Working in partnership with BBC Ten Pieces, ABRSM and the Royal Albert Hall, we staged the world premiere of Cassie Kinoshi's new piece, 'the colour of all things constant'. With words by poet Belinda Zhawi, the piece focuses on the timely theme of kindness. With a wonderful 4-star review in The Telegraph, audiences were inspired by the groups and the incredible massed ensemble of over 1000 young musicians performing each night on the iconic Royal Albert Hall stage.106 groups 2,273 young musicians from across the country joined us on stage.
Regional Festival, March 2025
The Music for Youth Regional Festival provided young musicians a unique opportunity to perform live, share their music, experience performances from other groups, connect with fellow musicians, and receive invaluable feedback and guidance from professional musicians and educators-our Music Mentors. The UK wide festival welcomed 18,000 young people, across 450 groups, aged between 4- 21, showcasing all genres and styles of music. 30% of regional events took place in Arts Council Priority Places and DfE Education Investment Areas. 450 groups took part in mentored sessions and the festival partnered with 27 Music Education Hubs. The Regional Festival series also included the 'Together for Music' festival at Symphony Hall, Birmingham. Together for Music works with inclusive music partners to stage a specially designed festival to celebrate the creativity and music making of young people of all abilities from deaf, neurodivergent and disabled communities.
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Music for Youth
Company Limited by Guarantee
Trustees' Annual Report (Incorporating the Director's Report) (continued)
Year ended 31 March 2025
Achievements and performance (continued)
Charitable activities (continued)
Frequencies (year-round)
The Frequencies programme exists to help anyone who wants a future in music: onstage, behind the scenes, playing, making, producing. We operate cross-genre, supporting bold multi-disciplinary ideas from young people throughout the UK. At Frequencies events:
-
112 young people worked at our festivals in non-performance roles including backstage coordinator, production, comms and social media assistants.
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5 young presenters were mentored by professional presenters.
-
We piloted the UK's first music video festival created by rising talent aged 16-25. 25 groups were nominated for awards at the Frequencies Music Video Festival. We brought together a national network of partners committed to celebrating the creativity of young people, the festival showcased future talent with featured awards, open learning hubs and inspirational panel discussions featuring WarnerBros Studios, YouTube Music, Be United and BFI Network.
-
4 young artists collaborated with full-scale orchestras to perform original music at the Royal Albert Hall.
b. Future plans
The increased enthusiasm and demand to join the Music for Youth programme is encouraging. However, it's important to acknowledge the ongoing challenges currently faced by the music education sector. As a result of this uncertainty, Music for Youth has introduced some participation charges. Subsidies for groups without the financial means to otherwise take part are available to offset the negative impacts of these new charges. Renewed funding from PPL demonstrates confidence in MFY's artist development programme which we hope will grow in 2025-2026 with the support of new industry partners. Now in its second year, the continuing partnership with BBC Ten Pieces, ABRSM and Royal Albert Hall is helping MFY connect to more schools through the much-loved Ten Pieces project. To further support schools wishing to take part in the Ten Pieces Creative Project, MFY is launching Accelerando, a new teacher training initiative. This CPD programme is designed specifically for nonspecialist primary music coordinators, equipping them with the confidence and skills needed to bring a school group to the MFY Proms.
6
Music for Youth
Company Limited by Guarantee
Trustees' Annual Report (Incorporating the Director's Report) (continued)
Year ended 31 March 2025
Financial review
a. Going concern
After making appropriate enquiries, the Trustees have a reasonable expectation that the Company has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in the accounting policies.
b. Reserves policy
Reserves are spent at the trustees' discretion in furtherance of the charity's objectives. It is the policy of the charity to maintain unrestricted funds, which are the free reserves of the charity, at a level that provides sufficient funds to cover management, administration and support costs for expenditure that Music for Youth is committed to or contracted to in the forthcoming year.
Considering the current economic environment, the trustees consider the most appropriate level of free reserves to be in the region of £250,000. Current Unrestricted Reserves stand at £101,799 (2024: £101,224). The trustees acknowledge the need to replenish Reserves at this transition point for the charity, aiming to accelerate implementation of strategy to achieve this.
c. Financial review
The charity's income is derived from a mix of corporate sponsors, donations from trusts and foundations, public funding and income from events undertaken to fulfil the charity's objects. We continue to maintain rigorous financial controls and accurate forecasting. During the period, the Charity received donations amounting to £143,066 (2024 - £126,640) and grant funding totalling £283,480 (2024 - £377,809). In addition, sponsorship generated £91,750 (2024 - £96,704).
The total expenditure on charitable activities amounted to £657,302 (2024 - £908,859) with governance and other resources expensed totalled £4,000 (2024 - £6,000) during the year.
The total reserves at the year end stand at £101,799 (2024 - £101,224). The total fixed assets of the Charity amounted to £– (2024 - £158).
d. Investment policies
Under the memorandum and articles of association, the charity has the power to make any investment that the trustees see fit. The charity has a policy of keeping any surplus liquid funds in bank current and deposit accounts that can be accessed readily and are low risk.
Small company provisions
This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
7
Music for Youth
Company Limited by Guarantee
Trustees' Annual Report (Incorporating the Director's Report) (continued)
Year ended 31 March 2025
The trustees' annual report was approved on 4 December 2025 and signed on behalf of the board of trustees by:
ANTONY HARRIS
Trustee
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Music for Youth
Company Limited by Guarantee
Independent Examiner's Report to the Trustees of Music for Youth
Year ended 31 March 2025
I report to the trustees on my examination of the financial statements of Music for Youth ('the charity') for the year ended 31 March 2025.
Responsibilities and basis of report
As the trustees of the company (and also its directors for the purposes of company law) you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006 ('the 2006 Act’).
Having satisfied myself that the accounts of the company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of the charity’s accounts as carried out under section 145 of the Charities Act 2011 (‘the 2011 Act’). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
Independent examiner's statement
Since the charity’s gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of the Institute of Chartered Accountants in England and Wales (ICAEW), which is one of the listed bodies.
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:
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accounting records were not kept in respect of the charity as required by section 386 of the 2006 Act; or
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the financial statements do not accord with those records; or
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the financial statements do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a ‘true and fair' view which is not a matter considered as part of an independent examination; or
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the financial statements have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).
9
Music for Youth
Company Limited by Guarantee
Independent Examiner's Report to the Trustees of Music for Youth (continued)
Year ended 31 March 2025
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
MRS K SQUIRE ACA
Independent Examiner
The Barn, Meadow Court Faygate Lane Faygate Horsham West Sussex RH12 4SJ
18 December 2025
10
Music for Youth
Company Limited by Guarantee
Statement of Financial Activities (including income and expenditure account)
Year ended 31 March 2025
| 2025 | 2024 | ||||
|---|---|---|---|---|---|
| Unrestricted | Restricted | ||||
| funds | funds | Total funds | Total funds | ||
| Note | £ | £ | £ | £ | |
| (restated) | |||||
| Income and endowments | |||||
| Donations and legacies | 5 | 194,216 | 331,480 | 525,696 | 603,144 |
| Charitable activities | 6 | 158,299 | – | 158,299 | 64,736 |
| Investment income | 7 | 1,899 | – | 1,899 | 5,057 |
| -------------------------------- | -------------------------------- | -------------------------------- | -------------------------------- | ||
| Total income | 354,414 | 331,480 | 685,894 | 672,937 | |
| ================================ | ================================ | ================================ | ================================ | ||
| Expenditure | |||||
| Expenditure on raising funds: | |||||
| Costs of raising funds | 8 | 28,017 | – | 28,017 | 25,853 |
| Expenditure on charitable activities | 9,10 | 325,822 | 331,480 | 657,302 | 914,859 |
| -------------------------------- | -------------------------------- | -------------------------------- | -------------------------------- | ||
| Total expenditure | 353,839 | 331,480 | 685,319 | 940,712 | |
| ================================ | ================================ | ================================ | ================================ | ||
| -------------------------------- | -------------------------------- | -------------------------------- | -------------------------------- | ||
| Net income/(expenditure) and net | |||||
| movement in funds | 575 | – | 575 | (267,775) | |
| ================================ | ================================ | ================================ | ================================ | ||
| Reconciliation of funds | |||||
| Total funds brought forward | 101,224 | – | 101,224 | 368,999 | |
| -------------------------------- | -------------------------------- | -------------------------------- | -------------------------------- | ||
| Total funds carried forward | 101,799 | – | 101,799 | 101,224 | |
| ================================ | ================================ | ================================ | ================================ |
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
The notes on pages 14 to 26 form part of these financial statements.
11
Music for Youth
Company Limited by Guarantee
Statement of Financial Position
31 March 2025
| 2025 | 2024 | ||
|---|---|---|---|
| Note | £ | £ | |
| Fixed assets | |||
| Tangible fixed assets | 17 | – | 158 |
| Current assets | |||
| Debtors | 18 | 37,142 | 27,542 |
| Cash at bank and in hand | 116,437 | 108,459 | |
| -------------------------------- | -------------------------------- | ||
| 153,579 | 136,001 | ||
| Creditors: amounts falling due within one year | 19 | (51,780) | (34,935) |
| -------------------------------- | -------------------------------- | ||
| Net current assets | 101,799 | 101,066 | |
| -------------------------------- | -------------------------------- | ||
| Total assets less current liabilities | 101,799 | 101,224 | |
| -------------------------------- | -------------------------------- | ||
| Net assets | 101,799 | 101,224 | |
| ================================ | ================================ | ||
| Funds of the charity | |||
| Unrestricted funds | 101,799 | 101,224 | |
| -------------------------------- | -------------------------------- | ||
| Total charity funds | 21 | 101,799 ================================ |
101,224 ================================ |
For the year ending 31 March 2025 the charity was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
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The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
-
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
These financial statements were approved by the board of trustees and authorised for issue on 4 December 2025, and are signed on behalf of the board by:
ANTONY HARRIS
Trustee
The notes on pages 14 to 26 form part of these financial statements.
12
Music for Youth
Company Limited by Guarantee
Statement of Cash Flows
Year ended 31 March 2025
| 2025 | 2024 | |
|---|---|---|
| (restated) | ||
| £ | £ | |
| Cash flows from operating activities | ||
| Net income/(expenditure) | 575 | (267,775) |
| Adjustments for: | ||
| Depreciation of tangible fixed assets | 158 | 684 |
| Other interest receivable and similar income | (1,899) | (5,057) |
| Accrued income | (5,010) | (32,109) |
| Changes in: | ||
| Trade and other debtors | (11,580) | 59,339 |
| Trade and other creditors | 23,835 | (18,000) |
| ---------------------------- | -------------------------------- | |
| Cash generated from operations | 6,079 | (262,918) |
| Interest received | 1,899 | 5,057 |
| ----------------------- | -------------------------------- | |
| Net cash from/(used in) operating activities | 7,978 | (257,861) |
| ======================= | ================================ | |
| Net increase/(decrease) in cash and cash equivalents | 7,978 | (257,861) |
| Cash and cash equivalents at beginning of year | 108,459 | 366,320 |
| -------------------------------- | -------------------------------- | |
| Cash and cash equivalents at end of year | 116,437 | 108,459 |
| ================================ | ================================ |
The notes on pages 14 to 26 form part of these financial statements.
13
Music for Youth
Company Limited by Guarantee
Notes to the Financial Statements
Year ended 31 March 2025
1. General information
The charity is a public benefit entity and a private company limited by guarantee, registered in England and Wales and a registered charity in England and Wales. The address of the registered office is CBSO Centre, Berkley Street, Birmingham, B1 2LF.
2. Statement of compliance
These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', the 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) (Charities SORP (FRS 102)) and the Companies Act 2006.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis.
The financial statements are prepared in sterling, which is the functional currency of the entity, and rounded to the nearest £1.
Going concern
The financial statements have been prepared on a going concern basis and the trustees note no material uncertainties in relation to the charitable company being a going concern.
Judgements and key sources of estimation uncertainty
No significant judgements or estimates have had to be made by the trustees in preparing these financial statements.
Income tax
The Charitable Company is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the Company is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes.
14
Music for Youth
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 March 2025
3. Accounting policies (continued)
Fund accounting
Unrestricted funds are available for use at the discretion of the trustees to further any of the charity's purposes.
Designated funds are unrestricted funds earmarked by the trustees for particular future project or commitment.
Restricted funds are subjected to restrictions on their expenditure declared by the donor or through the terms of an appeal, and fall into one of two sub-classes: restricted income funds or endowment funds.
Incoming resources
All incoming resources are included in the statement of financial activities when entitlement has passed to the charity; it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income:
-
income from donations or grants is recognised when there is evidence of entitlement to the gift, receipt is probable and its amount can be measured reliably.
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legacy income is recognised when receipt is probable and entitlement is established.
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income from donated goods is measured at the fair value of the goods unless this is impractical to measure reliably, in which case the value is derived from the cost to the donor or the estimated resale value. Donated facilities and services are recognised in the accounts when received if the value can be reliably measured. No amounts are included for the contribution of general volunteers.
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income from contracts for the supply of services is recognised with the delivery of the contracted service. This is classified as unrestricted funds unless there is a contractual requirement for it to be spent on a particular purpose and returned if unspent, in which case it may be regarded as restricted.
15
Music for Youth
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 March 2025
3. Accounting policies (continued)
Resources expended
Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings of the statement of financial activities to which it relates:
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expenditure on raising funds includes the costs of all fundraising activities, events, noncharitable trading activities, and the sale of donated goods.
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expenditure on charitable activities includes all costs incurred by a charity in undertaking activities that further its charitable aims for the benefit of its beneficiaries, including those support costs and costs relating to the governance of the charity apportioned to charitable activities.
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other expenditure includes all expenditure that is neither related to raising funds for the charity nor part of its expenditure on charitable activities.
All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs are apportioned between the activities they contribute to on a reasonable, justifiable and consistent basis.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other recognised gains and losses, unless it reverses a charge for impairment that has previously been recognised as expenditure within the statement of financial activities. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other recognised gains and losses, except to which it offsets any previous revaluation gain, in which case the loss is shown within other recognised gains and losses on the statement of financial activities.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
| Equipment | - | 25% straight line |
|---|---|---|
| Web development | - | 25% straight line |
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
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Music for Youth
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 March 2025
3. Accounting policies (continued)
Impairment of fixed assets (continued)
For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.
For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the charity are assigned to those units.
Financial instruments
The Charitable Company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.
When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as an expense in the period in which it arises.
4. Limited by guarantee
Each member of the charitable company undertakes to contribute to the assets of the company in the event of it being wound up while they are a member, or within one year after they cease to be a member, such amount as may be required, not exceeding £5 for the debts and liabilities contracted before they cease to be a member.
17
Music for Youth
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 March 2025
5. Donations and legacies
| Unrestricted | Restricted | Total Funds | |
|---|---|---|---|
| Funds | Funds | 2025 | |
| £ | £ | £ | |
| Donations | |||
| Individuals | 1,113 | – | 1,113 |
| National Education Union | 20,000 | – | 20,000 |
| Corporations | 25,284 | – | 25,284 |
| Trusts and foundations | 28,795 | 48,000 | 76,795 |
| Donations from charity giving platforms | 19,874 | – | 19,874 |
| Legacies | |||
| Estate of G N Radford | 7,400 | – | 7,400 |
| Grants | |||
| Arts Council England | – | 283,480 | 283,480 |
| Department for Education Northern Ireland | – | – | – |
| Kings Coronation | – | – | – |
| Sponsorship | |||
| Sponsorship | 91,750 | – | 91,750 |
| Other donations and legacies | |||
| HMRC Gift Aid claimed | – | – | – |
| -------------------------------- | -------------------------------- | -------------------------------- | |
| 194,216 | 331,480 | 525,696 | |
| ================================ | ================================ | ================================ | |
| Unrestricted | Restricted | Total Funds | |
| Funds | Funds | 2024 | |
| (restated) | |||
| £ | £ | £ | |
| Donations | |||
| Individuals | 2,551 | – | 2,551 |
| National Education Union | 20,000 | – | 20,000 |
| Corporations | 45,909 | – | 45,909 |
| Trusts and foundations | 48,500 | – | 48,500 |
| Donations from charity giving platforms | 9,680 | – | 9,680 |
| Legacies | |||
| Estate of G N Radford | – | – | – |
| Grants | |||
| Arts Council England | – | 311,480 | 311,480 |
| Department for Education Northern Ireland | – | 2,000 | 2,000 |
| Kings Coronation | – | 64,329 | 64,329 |
| Sponsorship | |||
| Sponsorship | 96,704 | – | 96,704 |
| Other donations and legacies | |||
| HMRC Gift Aid claimed | 1,991 | – | 1,991 |
| -------------------------------- | -------------------------------- | -------------------------------- | |
| 225,335 | 377,809 | 603,144 | |
| ================================ | ================================ | ================================ |
18
Music for Youth
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 March 2025
6. Charitable activities
| Unrestricted | Total Funds | Unrestricted | Total Funds | |
|---|---|---|---|---|
| Funds | 2025 | Funds | 2024 | |
| (restated) | ||||
| £ | £ | £ | £ | |
| Event ticket sales and programme | ||||
| income | 152,825 | 152,825 | 60,322 | 60,322 |
| Merchandise income | 5,233 | 5,233 | 4,414 | 4,414 |
| Catering income | 241 | 241 | – | – |
| -------------------------------- | -------------------------------- | ---------------------------- | ---------------------------- | |
| 158,299 | 158,299 | 64,736 | 64,736 | |
| ================================ | ================================ | ============================ | ============================ | |
| nvestment income | ||||
| Unrestricted | Total Funds | Unrestricted | Total Funds | |
| Funds | 2025 | Funds | 2024 | |
| (restated) | ||||
| £ | £ | £ | £ | |
| Bank interest receivable | 1,899 | 1,899 | 5,057 | 5,057 |
| ======================= | ======================= | ======================= | ======================= | |
| Costs of raising funds | ||||
| Unrestricted | Total Funds | Unrestricted | Total Funds | |
| Funds | 2025 | Funds | 2024 | |
| (restated) | ||||
| £ | £ | £ | £ | |
| Box Office Ticket and programme | ||||
| commissions | 23,938 | 23,938 | 25,107 | 25,107 |
| Merchandise expenses | 4,079 | 4,079 | 746 | 746 |
| ---------------------------- | ---------------------------- | ---------------------------- | ---------------------------- | |
| 28,017 | 28,017 | 25,853 | 25,853 | |
| ============================ | ============================ | ============================ | ============================ |
7. Investment income
8. Costs of raising funds
19
Music for Youth
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 March 2025
9. Expenditure on charitable activities by fund type
| Unrestricted | Restricted | Total Funds | |
|---|---|---|---|
| Funds | Funds | 2025 | |
| £ | £ | £ | |
| Festivals and Proms | – | 251,691 | 251,691 |
| Mentoring and coaching | – | 35,884 | 35,884 |
| Support costs | 325,822 | 43,905 | 369,727 |
| -------------------------------- | -------------------------------- | -------------------------------- | |
| 325,822 | 331,480 | 657,302 | |
| ================================ | ================================ | ================================ | |
| Unrestricted | Restricted | Total Funds | |
| Funds | Funds | 2024 | |
| (restated) | |||
| £ | £ | £ | |
| Festivals and Proms | 281,583 | 141,301 | 422,884 |
| Mentoring and coaching | – | 26,349 | 26,349 |
| Support costs | 74,094 | 391,532 | 465,626 |
| -------------------------------- | -------------------------------- | -------------------------------- | |
| 355,677 | 559,182 | 914,859 | |
| ================================ | ================================ | ================================ |
10. Expenditure on charitable activities by activity type
| Activities | |||||
|---|---|---|---|---|---|
| undertaken | Grant funding |
Support | Total funds | Total fund | |
| directly | of activities |
costs | 2025 | 2024 | |
| (restated) | |||||
| £ | £ | £ | £ | £ | |
| Festivals and Proms | 244,492 | 7,200 |
365,726 | 617,418 | 882,510 |
| Mentoring and coaching | 35,884 | – |
– | 35,884 | 26,349 |
| Governance costs | – | – |
4,000 | 4,000 | 6,000 |
| -------------------------------- | ----------------------- | -------------------------------- | -------------------------------- | -------------------------------- | |
| 280,376 | 7,200 |
369,726 | 657,302 | 914,859 | |
| ================================ | ======================= | ================================ | ================================ | ================================ |
20
Music for Youth
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 March 2025
11. Analysis of support costs
| Festivals and | |||||
|---|---|---|---|---|---|
| Proms Governance | Total 2025 | Total 2024 | |||
| (restated) | |||||
| £ | £ | £ | £ | ||
| Permanent and temporary staff costs | 325,053 | – | 325,053 | 394,347 | |
| Premises | 8,888 | – | 8,888 | 29,712 | |
| Communications and IT | 4,123 | – | 4,123 | 5,536 | |
| General office | 3,177 | – | 3,177 | 3,312 | |
| Finance costs | 910 | – | 910 | 443 | |
| Governance costs | – | 4,000 | 4,000 | 6,000 | |
| Travel and subsistence | 2,691 | – | 2,691 | 2,464 | |
| Legal and professional fees | 8,243 | – | 8,243 | 282 | |
| Depreciation | 423 | – | 423 | 684 | |
| Computer and IT costs | 8,974 | – | 8,974 | 19,690 | |
| Staff training | 1,281 | – | 1,281 | 614 | |
| Office relocation costs | 1,963 | – | 1,963 | 2,542 | |
| -------------------------------- | ----------------------- | -------------------------------- | -------------------------------- | ||
| 365,726 | 4,000 | 369,726 | 465,626 | ||
| ================================ | ======================= | ================================ | ================================ | ||
| Included within governance costs were: | |||||
| 2025 | 2024 | ||||
| (restated) | |||||
| £ | £ | ||||
| Independent examiner's fees | 3,300 | 5,250 | |||
| Governance costs - costs of trustees' meetings | 700 | 750 | |||
| ----------------------- | ----------------------- | ||||
| 4,000 | 6,000 | ||||
| ======================= | ======================= | ||||
| 12. | Analysis of grants | ||||
| 2025 | 2024 | ||||
| (restated) | |||||
| £ | £ | ||||
| Grants to institutions | |||||
| Shift Video Productions | 500 | – | |||
| Grants to individuals | |||||
| 10 participants (2024 - 7) | 6,700 | 6,125 | |||
| ----------------------- | ----------------------- | ||||
| Total grants | 7,200 | 6,125 | |||
| ======================= | ======================= | ||||
| 13. | Net income/(expenditure) | ||||
| Net income/(expenditure) is stated after | charging/(crediting): | ||||
| 2025 | 2024 | ||||
| (restated) | |||||
| £ | £ | ||||
| Depreciation of tangible fixed assets | 158 | 684 | |||
| ============== | ============== |
21
Music for Youth
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 March 2025
14. Independent examination fees
| 2025 | 2024 | ||
|---|---|---|---|
| (restated) | |||
| £ | £ | ||
| Fees payable to the independent examiner for: | |||
| Independent examination of the financial statements | 3,600 | 4,500 | |
| ======================= | ======================= | ||
| 15. | Staff costs |
| The total staff costs and employee benefits for the reporting period are analysed as | The total staff costs and employee benefits for the reporting period are analysed as | follows: |
|---|---|---|
| 2025 | 2024 | |
| (restated) | ||
| £ | £ | |
| Wages and salaries | 275,388 | 342,080 |
| Social security costs | 29,112 | 31,544 |
| Employer contributions to pension plans | 22,085 | 20,723 |
| Other employee benefits | 1,468 | – |
| -------------------------------- | -------------------------------- | |
| 328,053 | 394,347 | |
| ================================ | ================================ |
The average head count of employees during the year was 7 (2024: 8). The average number of full-time equivalent employees during the year is analysed as follows:
| 2025 | 2024 | |
|---|---|---|
| No. | No. | |
| Production | 3.4 | 3.4 |
| Marketing | 1.0 | 1.0 |
| Development | 1.0 | 1.0 |
| Administration | 1.0 | 1.0 |
| -------------- | -------------- | |
| 6.4 | 6.4 | |
| ============== | ============== | |
| The number of employees whose remuneration for the year fell within the following bands, were: | ||
| 2025 | 2024 | |
| No. | No. | |
| £70,000 to £79,999 | 1 | 1 |
| ============== | ============== |
The number of employees whose remuneration for the year fell within the following bands, were:
Key Management Personnel
Key management personnel include all persons that have authority and responsibility for planning, directing and controlling the activities of the charity. The total compensation paid to key management personnel for services provided to the charity was £83,430 (2024: (restated) £83,430).
16. Trustee remuneration and expenses
During the year, no Trustees received any remuneration or other benefits (2024 - £NIL).
During the year ended 31 March 2025, no Trustee expenses have been incurred (2024 - £NIL).
22
Music for Youth
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 March 2025
17. Tangible fixed assets
| Website | ||||
|---|---|---|---|---|
| Equipment | development | Total | ||
| £ | £ | £ | ||
| Cost | ||||
| At 1 April 2024 (as restated) and 31 March 2025 | 23,728 | 31,279 | 55,007 | |
| ============================ | ============================ | ============================ | ||
| Depreciation | ||||
| At 1 April 2024 | 23,570 | 31,279 | 54,849 | |
| Charge for the year | 158 | – | 158 | |
| ---------------------------- | ---------------------------- | ---------------------------- | ||
| At 31 March 2025 | 23,728 | 31,279 | 55,007 | |
| ============================ | ============================ | ============================ | ||
| Carrying amount | ||||
| At 31 March 2025 | – | – | – | |
| ============================ | ============================ | ============================ | ||
| At 31 March 2024 | 158 | – | 158 | |
| ============================ | ============================ | ============================ | ||
| 18. | Debtors | |||
| 2025 | 2024 | |||
| £ | £ | |||
| Trade debtors | 10,113 | 2,700 | ||
| Prepayments and accrued income | 21,596 | 1,980 | ||
| Other debtors | 5,433 | 22,862 | ||
| ---------------------------- | ---------------------------- | |||
| 37,142 | 27,542 | |||
| ============================ | ============================ | |||
| 19. | Creditors: amounts falling due within one year | |||
| 2025 | 2024 | |||
| £ | £ | |||
| Trade creditors | 27,672 | 5,112 | ||
| Accruals and deferred income | 7,219 | 14,209 | ||
| Social security and other taxes | 13,917 | 9,005 | ||
| Other creditors | 2,972 | 6,609 | ||
| ---------------------------- | ---------------------------- | |||
| 51,780 | 34,935 | |||
| ============================ | ============================ |
20. Pensions and other post retirement benefits
Defined contribution plans
The amount recognised in income or expenditure as an expense in relation to defined contribution plans was £22,085 (2024: £20,723).
23
Music for Youth
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 March 2025
21. Analysis of charitable funds
Unrestricted funds
| Unrestricted funds | ||||
|---|---|---|---|---|
| At | ||||
| At 1 April | 31 March | |||
| 2024 | Income | Expenditure | 2025 | |
| £ | £ | £ | £ | |
| General funds | 101,224 | 354,414 | (353,839) | 101,799 |
| ================================ | ================================ | ================================ | ================================ | |
| At | ||||
| At 1 April | 31 March 20 | |||
| 2023 | Income | Expenditure | 24 | |
| £ | £ | £ | £ | |
| General funds | 187,626 | 295,128 | (381,530) | 101,224 |
| ================================ | ================================ | ================================ | ================================ | |
| Restricted funds | ||||
| At | ||||
| At 1 April | 31 March | |||
| 2024 | Income | Expenditure | 2025 | |
| £ | £ | £ | £ | |
| Festivals and Proms | – | 321,480 | (321,480) | – |
| Northern Ireland | – | – | – | – |
| Kings Coronation | – | – | – | – |
| Thank Your Music Teacher Fund | – | 10,000 | (10,000) | – |
| -------------- | -------------------------------- | -------------------------------- | -------------- | |
| – | 331,480 | (331,480) | – |
|
| ============== | ================================ | ================================ | ============== | |
| At 1 April | At 31 March | |||
| 2023 | Income | Expenditure | 2024 | |
| £ | £ | £ | £ | |
| Festivals and Proms | – | 311,480 | (311,480) | – |
| Northern Ireland | – | 2,000 | (2,000) | – |
| Kings Coronation | 181,373 | 64,329 | (245,702) | – |
| Thank Your Music Teacher Fund | – | – | – | – |
| -------------------------------- | -------------------------------- | -------------------------------- | -------------- | |
| 181,373 | 377,809 | (559,182) | – |
|
| ================================ | ================================ | ================================ | ============== |
24
Music for Youth
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 March 2025
21. Analysis of charitable funds (continued)
Festival and Proms
The grants received from the Department for Education and Arts Council England help fund the following activities:
-
Regional Festivals
-
National Festival
-
MFY Proms
-
Primary Proms
-
First Access Fund (Department for Education)
-
First Timers and Hardship Fund (Department for Education)
Northern Ireland
The grants received from Department for Education Northern Ireland help fund the following activities:
- Northern Irish young people's participation in above events.
Kings Coronation
A grant was received to fund charitable activities to be provided in order to celebrate the coronation of King Charles III.
Thank Your Music Teacher Fund
A donation was received to assist with the Thank Your Music Teacher campaign during the year.
22. Analysis of net assets between funds
| Unrestricted | Total Funds | |
|---|---|---|
| Funds | 2025 | |
| £ | £ | |
| Tangible fixed assets | – | – |
| Current assets | 153,579 | 153,579 |
| Creditors less than 1 year | (51,780) | (51,780) |
| -------------------------------- | -------------------------------- | |
| Net assets | 101,799 | 101,799 |
| ================================ | ================================ | |
| Unrestricted | Total Funds | |
| Funds | 2024 | |
| £ | £ | |
| Tangible fixed assets | 158 | 158 |
| Current assets | 136,001 | 136,001 |
| Creditors less than 1 year | (34,935) | (34,935) |
| -------------------------------- | -------------------------------- | |
| Net assets | 101,224 | 101,224 |
| ================================ | ================================ |
25
Music for Youth
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 March 2025
23. Prior year adjustments
During the year, the Trustees reassessed the disclosures of the charity activities and as a result the comparative Statement of Financial Activities has been restated to recognise the expenditure on fundraising and support costs which had not been separately disclosed in 2024. There was no adjustment to the closing of opening funds of the Charity. The trustees believe that this reclassification better presents the results of the Charity.
24. Analysis of changes in net debt
| At | |||||
|---|---|---|---|---|---|
| At | 1 | Apr 2024 Cash flows | 31 Mar 2025 | ||
| £ | £ | £ | |||
| Cash at bank and in hand | 108,459 | 7,978 | 116,437 | ||
| ================================ | ======================= | ================================ |
25. Related parties
The Charity has not entered into any related party transaction during the year, nor are there any outstanding balances owing between related parties and the Charity at 31 March 2025.
26