REGISTERED COMPANY NUMBER: 01066757 (England and Wales) REGISTERED CHARITY NUMBER: 501953 ta Imar Peo Li Gu
anche Youn Pe Theatre Li ited Th ent of he Consolida d Financial tatemen f rthe Year Ended 31 March 2025 Page Report of the Interim Chai rs Report of the Trustees 2to14 Report of the IndependentAuditors 15to17 Consolidated Statement of Financial Activities 18 Consolidated statement of Fi nancial Position 19 Company Statement of Financial Position 20 Consolidated Statement Df Cash Flows 21 Notes to the Consolidated Financial ststements 22to42
Manch r Youn Pe Theatre Limited Th Re ort of h Year End 31 March 2L It has been a year of consolidation and rebuilding forConta¢t set against a continuing difficult time for UK Arts. Our team has continued to make a difference in the lives of young people, communities and artists across Greater Manchester. In li ne with our short-term business plan to continue to safeguard the future of Contact amongst uncertain times.we have sought stability and been careful in our decision-making. The world conti nues to be a challengi ng place for our young people and Contact has provided a safer space for thèm. to be themselves. to explore and to grow. Time has been spent re-establishing relationships across the city region with partners. communities and funders.. and on ensuringth3tContact continiJp.s to be part of conversations and maximisingthe impactfor the young people that we serve. An i ncreased focus on young people's pa rtici pation activities has meant that manyyoung people have had the opportunity to develop their skills. to make connections, build networks and further Contact's mission to Change the Face of UK Culture. Contact has been able to leverage its assets and provide huge amounts of supportto artists and community groups. continuing ongoing relationships and establishing new partners with shared values. A busy programme of public events has kept the teams busy working with corporate clients and grassroots organisations.ensuringthat the wider public audience of Greater Manchester are still engagingwith work in the building. Both the Cha rity sector and UK Arts are vital to the country. However. with less and less fundi ng avai lable and conti nui ng i ncreases i n ru nni ng costs it is more important now than ever that the work of Contact a nd partner arganisations continues to build communities. platform voices and provide meaningful learning and development opportunities. In the latter half of the year we set about recruiting our new leadershi p team. This involved a shift i n focus and the recruitment of a CEO role. replaci ng the previous Artistic Director/CEO joi nt model. In February we announced the appointment ofJ2ck Dale-oowd as CEO. who has to this pnint been leading Contact out of a difficult few years as Interim Executive Director. Jack has a long history with Contact. first starting as a Technician and workingacross manyteams in his time atContacL He and the reformed new seniorteam are focusing on Contact's longterm stability and suc¢ess.ensuringthatwe supportand upliftouryoung people and those from Global Majority. Disab5ed. Queer. Neurodivergent and Workingciass communities. Intentionally,thisyearhas been quieterthan previousyears.toaddressthedifficultclimateandto reorganise operations. but Still a hive of activity- My fellow trustees and l are extremely pleased at the distance travelled this year. as demonstrated i n these annual accounts.. steps taken to build a reserve. whilst exceeding the target number of young people's partici pations that have been provided. new and exciti ng piojecls that have started. that will cu Imi nate next yearand a varied programme of public facingevents. I give my thanks to the tremendou5 work ofthe staff team and trustees during this period of Change. Contact champions the values of ouryoung people and communities and this continues to set us apart across the city region and beyond, and it is due to the efforts of all of us thatthis continues to be successful. Contact continues to reinvent itself.. followi ng what is IWTipuilant toyou r)g people i n each generation. In a world whereyoung people are facing immense challenges. Contactwill continue to raise up the voices of those not heard, provide a much needed home for artists that have somethingto say about the world we all live in and champion the voices ofyoung people. The 12111125 port of the Chair was approved by the trustees of the charity on_.....-.. and signed on its behalf by.. ofessorJ de Groot Interim Chairof the Board
anche Thea Limited Re f rthey ort f theTru Ended 31 M tee rch 2025 The Trustees are pleased to present their Annual Report of the Trustee5 together with the financial statements of the Cha rity for the year ending 31 March 2025 which are also prepared to meet the requi rements for a Directors, Report and Accounts for Companies Act purposes. The financial statements comply with the Charities Act 2022. the Companies Act 2006. the Memorandum and Articles of Association. and Accounti ng and Reporti ng by Charities: Statement of Recommended Practice applicable to charities preparing theii accounts in accordance with the Financial Reporting standard applicable in the. IJK and Republic of Ireland (FRS 102) (eff8¢tive l January 2019). OBJECTIVES AND ACTIVITIES Objectives and Activities Ourvi iotk is a world where young people are empowered by creativity and the arts. OurllLiSSiQll is to change the faceof UK culture. From our sustainable creative building in manchester.we do this by= Empoweri ng you ng people from all backgrounds as creative leaders and agents of social change Su pporti ng the next generation of art15ts and creatives Inspiring new audiences Wlth stories and experiences that reflectourcommunity Ourkn are.. We take g young-person centred approach to decision-making -we promote inclusion. access. understanding between communities.and a commitmentto anti-raci5m We foster a rti stic excellent. i ntegrity and creative ri" k-taking We nurture new artists. creative leaders and audiences -we care forour health. each otherand ourcommunity We care for our planet and environment. worki ng towards a carbon neutral futu re We use these value5 to inform our activity, and as the f ramework for evaluati ng ou r progres5.1 n shapi ng ou r objectives for the year 8 nd planning our activities the Trustees have considered the Charity Commission's guidance on public benefit. including the guidance'public benefit= runninga charity IPB21'. Our tivi are: Providi ng tra nsformative experience5 foryoung people Producing high quality new work with a focus on social realities Operating a unique, ethical and welcoming building- Contact is an environmentally sustainable building with an energy ratingof A. Main Areas of Activity 2024-25 Ou r activity is mu Iti-fa¢eted dJid diverse. ensuri ngyoung people have access to creative learning program mes as well as world-class entertainment and artwork. The artistic programme maintains a focus on pressing social issues relevant to young people. giving voice to early career artists and those embarking on their C8reers from the communities that we serve. Our on-going target is that 50/0 of the artists that we support are Global Majority. markedly higherthan local or national averages.
nche ter You Peo le. atre Limit The ort of theTru For the Yea Ended 31 tees rch 202 OBJECTIVES AND ACTIVITIES- continued Main Areas of Activity 2024-25- continued Our presented programme of theatre. music. spoken word. dance. comedy and cabaret, although reduced this year. features early career and first-time artists alongside internationally acclaimed companies_ Contact audiences get to be the first to experience innovative and pioneering shows that go on to major venues and festivals. and to experience the work of artists who go on to renowned and award-winningcareers.aswell asthose presentingwork across theworld in mid-large scale productions. Within our iconic castle the atmosphere is open and welcoming with local young people populating the most front-facing roles. Contact provides a meeting place for young people. communities and artists to work and socialise together. We provide free Wi-Fi. and there is no obligation to buy or consume anything in OLAI public spaces. We also present a high-quality visual art programme of exhibitions and artlSts' films that complement and often relate to the performance programme. These are curated across public spaces around the building. and are always fr&e to enter. As an organisation championing young people. Contact pays all staff the national living wage. regardless of age. The Trustees are proactive in ensuring that our activities benefit the public andyoung people, and as a consequence have considered the guidance in all our activities and fee charging. TheAgencywas in its fourthyearof an original five-yearfunding agreementending injune 2025, butthis has been extended to l July 2026_ Agents from Moston and Harpurhey completed the program with three being selected for fu ndi ng a nd two seeing their projects through to delivery. Graduate agents of the program me have continued to deliver their projects and apply for funding to expand their work ir% their communities. Regular activity takes place at Contact such as graduate project.The Life Room. a space for men to meet and provide a community of support to each other. Contact continues to work in collaboration with national partners i n London. Belf3sL Chester and Southampton with additional partners i n Bolton joi ning. than ks to support from the National Community Lottery Fund. cyc produced Third Space. a performance created bya neurodivergent cast ofyoung people. workir)g with a neurodivergent director and young technicians. This performance was created for a neurodivergent audience and received feedback from those far and wide who had travelled to attend.work started on a second project. Creatively Minded Men. funded by The Baring Foundation that will culminate in 2025. part of a cohort of organisations across the country exploring mental health. young men and theatre. Music Drop. Pop Up Beats and Studio School were delivered consistently through the year after taki ng a brief brea k towa rds the end of 2022 to refi ne delivery and project designs. Level up restarted i n October 2023 as a 10-week short course. We had one consistent faci litator throughout with a different i ndustry professional ru n ni ng a masterclass each week, -hari ng their experti sg and industry knowledge. supporting yoij ng people in learning how to become an art15t and make money from their music. In September2023. we established a very fruitful partnership with Nordoff and Robbins. the music therapy charity. to place a music therapist in residence within Contact-thefiTSt iteration of this pilotof its kind- to supportourdeliveryof music projects. With the addition of a music therapist. we were able to add further therapeutic value and legitimacy to our projects such as Pop Up Beats a nd Studio School. in addition to bei ng able to offer more 1-2-1 sessions with young people who were in need of furthersupport to access our projects.we have worked successfully with a large number of PRU, SEMH. SEND and Hospital school settings, including Leo Kellyand Galaxy House. as part of our pilot projects into workingcloselywith music therapyand are building up a large database of potential referra I partners for futu re music projects as a result of the eva luations i nto these activities.
Man h t ryoun ple's Theatr mited Th Re orthey ort of he Trustee .r Ended 31 Mar h 2025 OBJECTIVES AND ACTIVITIES- continued Main Areas of Activity 2024-25- continued CONT=Acting=. a redesigned version of our entry level drama drop in. provided sustained engagement to two cohorts of young people, learningfrom expert practitioners in a lange of performance techniques and styles, cu I m i nati ng in a performance i n our studio theatre exploring thei r own narrative. Future Fires-. We continued to seekfundingforfuturefiswhl1StsUpP0rt1ngthe latestcohortto furtherdevelop their projects. A model with fewer contact hours for participants is still proving to be effective. though over a longer period of time for theyoung people to furtherdevelop their ideas.An impactful programme that we will endeavouito deliver again. Community Space In-Kind Support: As part ofcontacys commitment to SUPPDrting the local communities in wh ic h i t serves. we have conti nued to offer space i n-ki nd to various commu nity groups on a long-term b3S15 who align themselves closely with Contact's mission. aim and values. These have included Uncurbed Collective. Kids of Colour.42nd Street. Muslim Social Justice Initiative and Brighter Sound. On a shorter-term scale. we have also supported Manchestercarnival. Afrocats. Night People. Community Arts North West. GMYN and Create. Defi ne Release. Re-.Con.' recruited four new programmerlproducers, who have continued to work with our programming team at Contact to further develop their skills in producing and programming to culminate in a final project delivered as part of Queer Contact 2025_ This continues a long-standing program empowering young programmerslproducers with work-place experience and key support to develop core skills. Previous Re'.Con membprq have become both freelance and permanent producers atContacL well as Trustee5 and Chair of the Board. Queer Contact. continued its tradition of celebrati ng a spectrum of queer lived experience with a smaller festival i n partnershi p with new caterer. amplifyi ng voices of queer artists across the UK and beyond. featu ri ng our Cabaret. Comedy, a Quiz night and an event organised by Re'.Con to build communities for young queer people focused on activities such as dance. crafting and Djing. Commissioning & Artist Support continued with local artists benefiting from support to develop new works, including Malandra Jacks. Night People. Afreena Islam-wright. Richochet Theat. Rory Aaron. Tom Bass. Knock'n. Nash and Antimatter amongst others.
nchester Yo Peo le's Th re Limi The ort ol the Ttee$ Ended 31 M h 2025 forthe Ye ACHIEVEMENT AND PERFORMANCE Marketing A new Communications Manager joined us in year and has revamped Contact's Comms Strategy. Driving increased engagement and re-enforcing Contact as a thought leader in the field of youth engagement and youth voice. Engagement and followers have increased significantly across our social channels. in part due to an increase in storytelling and additional partnership work. tapping into followers of other organi8at.ions we're workingwith. Commercial The commercial team has been oversubscribed with space hires activity and demand has outstripped capacity at points throughout the year. High profile clients such as The Guardian and Captain Sandy supplemented our public facing programme giving a wider range to the offering we would otherwise have presented. Coram Shakespeare schools returned for their Autumn showcase and the number of enquiries continued to grow through the year_ Further woik is now underway to review profit margins to increase the amount of income generated for the group. Contact's Anti-Racism Trai ning package was delivered however with fewer cl ients than in previous yea rs. Thi s change was due to capacity initially and additional support was procured to administrate this offering. We conti nue to have i nterest i n the package and duri ng 2025-26 seek to expand this package to rea lise fu rther earn i ng potentia I whi 1st having a positive i mpact
Manch er Youn Theatr ited The Re rtheye ort of he Trustee r Ended 31 M h 2025 FINANCIAL REVIEW Unrestricted Fu nds The grou p had a deficit of £47.552 for the year (2024: £515.575). At the year end the group's unrestricted reserves stood at £93.072 su rplus (2024= £29.127 deficit). At the year end the rnmpa n5 u nrestricted reserves stood at £98.009 su rplus (2024.. £29.745 def icit). The principal sources of income were grants and donations. income from the artistic piogramme and commercial hires.Arts Council Engiand.GMCA. ManchesterCityCouncil.Coutts Foundation and Universityof Manchesterwere our principal funders In October 2022 Contact received news on the NPO application to secure ACE funding for2023-2026, in which £2,799.891 was granted (£933,297 per annum). Despite strong feedback. amongst the challenging funding landscape, ACE were not able to award an uplift in this NPO round. The 2023-2026 NPO period will focus on deliveri ng an i n novative response to ACE'S Let's Create strategy in the th ree key areas.. Creative People. Cultural Communities and Cre8tive & Cultur21 Country. This work builds on roots which are we11 embedded within Contact.. youth voice. supporting artists and creative work to empower people from underserved communities. We were successful i n attracting u nrestricted funds of £1.454.751 (2024: £1.521.724) i ncludi ng= Arts Council England- £933.297 (2024.. £933.297) Greater Manchester Combined Authority- £106.700 12024: £106.700) Manchester City Council -£35.676 (2024.. £35.676) University of Manchester- £41,080 (2024.. £41,080) - Coutts Foundation-£55.000 (2024.. £55.000) Donations- £2.639 12024= £7.0551 Restricted Fu nds We brought forward non-capital restricted project funds of £67.658 (2024: £48.778) During the year. we were SLJccessf u l i n attracting restricted project funds of £154.438 (2024". £86.756}. made u p by.. The Agency- £98.668 (2024." £71.450) to continue with the Agency project in partnership with Battersea Arts Centre. The project has received funding for a f ive-year period between 2022 and 2026. Wolfson Fou ndation - £49.500 (2024= £ni l) towards the i nstallation of LED lighti ng i n the Theatre. We carry forward restricted non-capital project funds of£122.177 (2024= £67.658). I nvestment policy and objectives The Trustees. havi ng regard to the liquidity requiiements of running Contact. have kept avai la ble f u nds in an i nterèst-beari ng deposit account and seek to achieve a rate on deposit which matches or exceeds i nflation as measured by the retail prices index.
nche ter Youn Peo Th imited The Re ort of the he Year Ended 31 March2LS ee FINANCIAL REVIEW- continued Pol icy on resetves Our goal is to maintain three months. operating costs. however the financial year end surplus of £93,072 (2024.. deficit of £29.127) is not enough to cover this. Post year end reserves conti nued to be depleted but expenditure reductions have been i nitiated i nclud ing a recru itment freeze for non critical posts and staffi ng restructu re_ Activities havp hp.gn rp.diJr.p.d fnr the remainder of 2025126 with a change i n leadersh i p and revi sed smal ler staff structure to ta ke Contact forward i nto 2025126. A reviewed focus on ways of worki ng to enable activities to continue focussingon income generation over the coming financial year is underway in order to bui Id resil ience and reflate reserves gradually. The successful Arts Counci l England NPO application secures ou r next funding cycle. along with conf irmed ongoing funding from MCC. GMCA, and Uom. howeverthe board are supporting the senior management team to recalibratethe business model. inordertoachievethe medium to long-term goal of buildingreserves back u p. Despite the ongoi ng challenges, the trustees are confi dent i n the strong governance processes, healthy board structure. a nd the decisive leadership under Jack Dale-Dowd. such that the organisation will conti nue to adapt to thechanging landscape. Contact remained at'minorf risk according to Arts Cour)cil England's risk assessmenL in response to the pragmatic action taken to bui Sd resilience. and the recru itment of further experti se and experience to the Board of trustees. Our i nternal risk register rating has been kept as'high. in 2024-25 with actions bei ng ta ken to reduce this rati ng. In the effort to create a MO commercial programme. this comingyearwe will see the introduction ofevents that focus on.. F8shion Music Gaming Sport Comedy TeacherTraining and Career Development Family and school focussed shows for holiday periods includingan annual pantomime Additiona I ly. we will create more consultancy packages following the model of ou r successf u l Anti-Ra¢ism Package. These will focus on the followi ng areas-. YoLJth Governance Safeguarding and Social Media Cli mate Confidence
Maneh Peo le. Th imited The Re ort of the Tru t he Year End March 2025 PLANS FOR FUTURE PERIODS Aims and key objectives forfuture periods Contacfs current focus is on business planning and strategic direction forthe nextfiveyears.This work is well underway and will be completed by end of Q3 25-26. The direction of travel for Contact s a refining of ouractivities. focusing ourefforts in youth engagement and arti. t dcvclopmcnt on local communities that are less represented in the sector. The first stage of a 5 year staff plan has been implemented with further changes planned in the coming years. as funds allow, to build capacity across the organis8tion. Remaining a lean core staff team, but building up to allow an agile approach to deliver. 25-26 will bei ng a slightly more active pu blic offer. with the retu rn of pa nto i n December, a busy autu m n programme of partnership and collaboration and Queer Contactgiowing slightly in the final quarter of the year. Engagement activity is being reviewed by our new Head of Engagement to launch a new Engagement Strategy. along with our new Creative Strategy that will respond to the constant changes across the country and with ouryoung people. The work that Contact will do and partnerships that it will continue with will be much more intentional. fol lowi ng the year of consol idation. we are cautiously steppi ng forward whilst remai n ing com mitted to our mission. A small programme of capital works has been identified and funding is being sought to refresh certain untouched areasof the buildingwhilvtaimingtodeliveron sustainabilityupgrades and replacementof end of life plant eqLJipmenL New partners hi ps 2 re bei ng forged with Manchester Metropolitan University and others. whi 1st exi sti ng partnerships are being planned over a longer period of time. enabling both Contact and our partners to be more i mpactful and more effective. We are excited forwhat the future holds for Contact. our work now is more important than ever.
Ma h ter Youn Peo re Limited Re ort of th Tru tee he Year Ended 31 Mar h 2025 GOING CONCERN The Tru stees have carefully considered The Charity's going concern position with rega rd to its Arts Cou nci I England's N ational Portfolio Orgènisation (N PO) fu ndi ng Contact has recently been awarded fu ndi ng for the next cycle of NPO funding which covers the three years from April 2023 to March 2026 and we understand that th is fundi ng has been extended i nto 2026-27 year although this has not been formal ly notif led i n writi ng. Manchester City Council and the Greater Manchestercombined Authority IGMCA) have confirmed funding for the period to March 2026 and we are in active discussionswith them about future funding. seeking uplift in both ca ses. Although the N PO fundi ng continiJp.q at the same level. we continue to seek new f und ing partners and have been successful at increasing funds to supportour¢ore work. Contact's reserve policy requirement of f ree reseives coveri ng three months. operating costs are not met at the end of the period. Contact has budgets in place to build free reserves toward three months operati ng costs over the Current NPO fund ing period. Contact has prepared mitigation steps including new f inancial and com mercial strategies over the next two yea rs to bui Id free reserve and conti nue to focus on its mission by.. Prioritisi ng value for money programme. Conti nue to drive cost cutti ng exercises to reduce expenditure. New business model to generate voluntary and trading income. Robust financial monitoring and assessment using monthly management accounts. Fi nancial health Check through Stringent monthly cash flow forecast and qua rterly budget review. Maxi mise the efficiency of its commercial busi r)ess model to generate i ncome. The Trustees recognise the cu rrent financial position of Contact and. having assessed the new financial and commercial strategies including the cash position and the mitigation steps lincluding the renewal of the current overdraft faci lity as a buffer). are therefore satisf led that it is appropriate to prepare the fi nancial statements on a going concein basis.
ter Youn ople's Theatre Limited Th Re forthe of the Trustees oar Ended 31 March 2 STRUCTURE. GOVERNANCE AND MANAGEMENT Governing document Manchesteryoung People's Theatre, also known as Contact. is a registered charity (no. 501953) and a company (No. 1066757) limited by guarantee.The governing documents of Contact are its Memorandum and Articles of Association. which were revised on 21 March 2021. The company was incorporated on 18 August 1972 and registered as a charity on 31 October 1972. The Trustees of the Contact guarantee to contri butc and amount notexceeding£i to the assets ofthe Charity in theevent of a winding up. Appointment. i nduction and trai ning of Trustees Trustees reti re after three years by rotation_ These Trustees may offer themselves for re-appoi ntment for a second term. Al I new Trustees are recruited via a thorough process led by the Resources 8oard. Cand i d ates a re i ntepiiewed by a panel of Trustees and a separate panel of you ng people and if appropriate recom mended to the Board forappointment New Board members undertake a series ofinduction meetingswith the Board Chair, the Senior Management Team and staff. and a Com piehensive induction pack is provided. Board-wide trai ni ng i s arra nged as requi red. The Boa rd i ncludes one representative f rom the University of Manchester, one representative from the Greater Manchester Combi ned Authority and one representative from Manchester City Cou nci l. though the latter two posts a re currently vacant Organisation The Trust89 Soard ha" the following lub committees- f2esour¢es. Artistic Evaluation. a nd Trad i ng Boards. These committees meet at least four times a year with meetings scheduled to allow reporting back to the Board each quarter. The Trustees ensure the accuracy of all fi na nci81 i nformation through the work of its Resou rces Board, which reviews all financial informètion. the development of business systems and procedures. and progress in income generation 3nd fundraising strategies. The Resources Board, which meets on a quarterly basis. develops and monitors Contacts Financial Regulations and Risk Register. In addition, it reviews operational risks in relation to employment issues as well as keeping abreast of changes in employment law and developing relevant policies.The Resources Board also reviews Health & Safety policy and procedures as well as Ch i Id Protection 8 nd Safeguaidi ng Policy procedures. Members of the Resources Board bri ng expertise on business planning equality, diversityand inclusion. HR and finance. In terms of service quality. all individual projects undertaken by the organisation are subject to risk assessment. monitoring and evaluation procedures. Reports are made quarterly to the Trustees. The Trustees also mon itor the quality of services through its Arti stic Evaluation Board. which a150 meets quarterly. Rel ated parties and co-operation with other organisations None of our Tru stees receive remuneration 01 other benefit from their work as Trustees with the Cha rity. Any connection between a Trustee or Senior Managerofcontact with a production company. contracted actor, performer, or exhibitor must be disclosed to the full Board of Trustees in the same way as any other contractua I relationshi p with a related party. Contact has a Conflict of I nterest Pol icy and Register of I nterests. Contactand the University of Manchester have an agreementwhich allowscontactto leasethe buildingfrom the U n iversity, to access some faci l ities a nd setvices. and to collaborate with the Un iversity on progra mm i ng events for and by students. 10
Man ryoun Peo Theatre LI1 The Re f the Trustees h Year Ended l March 2025 STRUCTURE. GOVERNANCE AND MANAGEMENT Pay pol icy for senior staff The Directors. who are Contact's Trustees. consider themselves and the Senior Management Team to be key ma nagement personnel i n charge of di recti ng controlling running and operati ng Contact on a day-to-d ay basis. Al l Di rectors give thei r ti me freely and no Director received remuneration for bei ng a Di rectorlTrustee i n the year. Detai Is of relatpd party transactions are disclosed in note 31 to the accounts. Sa Saries are benchmarked aga inst market rates for al I staff. The pay if senior staff is reviewed annual ly and norma I ly increased in accordance with i nflation and at the same rate as other staff. Risk management The Trustees review the objectives. services. management and regu lar fundi ng of the organisation as part of an ongoing planning and review process. which includes the development of a Five Year Business Plan. The plan assesses Contact's development and sets targets in relation to a number of risk factors. including f ina ncial. operational. governance and external factors. In addition. the Resou rces Board reviews the risk process. These are also the routes for any additional areas of concern highl ighted by the review of the Plan or arisi ng through changes i n external circumsta nces. new activities or changes i n the Saw. The ri sk is assessed a nd any further action i s identified and para meters are agreed. The risk register. with any additional supporting i nformation. is then reported to the Boa rd qua rterly through the Finance & Risk Committee ReporL The Senior Management Team assesses day-to-day risks within thp rpmit agreed by the Board. identifying areas of concern, understandi ng risk analysis and agreei ng decisions withi n agreed para meters. The Trustees have reviewed the major risks that could impact on ContactThese are:_ Risk Increasingcosts due to energy and cost of living crisis Mitigation Focus of the Resources Board. implementing cost saving measures and developing additional fundraising capacity Ina bi l ity to meet increased i ncome targets Focus ofthe Resources Board. strengthening staff team and marketing communications and sales function Cuts in existing public sectorfunding Regulardialogue with ourfunders. reportingoursocial impact and reach.and business planning around newcommercial models of income Inabilityto retain existing staff and recruit new staff due to low salaries Focus of the Resources Board. review of salaries and cost base Cash flow and managementofcash f low Careful management of cash flows by finance team. Resources Board focus. implementing cost Saving measures and developingadditional fundraisingcapacity. The Board of Trustees a nd staff u ndergo regula r traini ng and professional development to ensure that they remai n abreast of current developments. changes i n statutes and best practice.
Manch t Youn le's Theatr ited The Re forthe Y ortof he Trustee r Ended 31 Mar h 2025 Reference and Admi nistrative Details Directors and Trustees The Directors of the Charitable Company Ithe Charity) are its trustees for the purpose of charity law. The Trustees and officers servingduring theyear and since theyearend were as follows: Chair Ms B Ikpasaja Resigned on 18 September 2025 Interim Chairs Mr B Anderson ProfessorJ de Groot Appointed on 18 September 2025 Appointed on 18 September 2025 Trustees MsFOpe Mr O Fatayo Ms P Swiderska Mr Polubayo Ms Tolaniran MSJ Y Cheung Resigned on 12 March 2025 Resigned on 24 April 2025 Resigned on 26 December 2024 Manchestercity Council representative Replacement pending GMCA representative Replacement pending University of Manchester representative Professorj de Groot Key Management personnel Sen ior Leadership Chief Executive Officer MrJ Dale-Dowd Directorof Finance Mr F Bradley Senior Management Head of Creativo Engagement Ms Lwhitehurst Role discontinued Resigned on 31 January 2025 Head of HR &Wellbeing MsCLee Appointed l June 2025 Head of Development MSJ Hall Appointed l June 2025 Head ofEngagement Ms B Rigby Appointed i June 2025 12
Th ited Reference and Admi nistrative Details (Continued) Registered Company number 01066757 (England and Wales) Registered charity number £019.5.2 Registered off ice Contact Theatre Devas Street Off Oxford Road Manchester M15 6JA Auditors Ascendis Audit Limited Unit3. Building2 The Colony Altrincham Road Wilmslow SK9 4LY Solicitors Gateley LLP Ship Canal House 88 King street Manchester M3 3AP Bankers Natwest Bank plc I spinningfields Square Manchester M3 8AP 13
h ster You eo Thea mited The Re Lof the Tru ear Ended 31 M tee rch 2025 for STATEMENT OFTRUSTEES, RESPONSIBILITIES The Trustees (who are also the d i rectors of Manchester You ng People's Theatre Li m ited (The) for the purposes of Company law) are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting standards (United Kingdom Generally Accepted Accou nti ng Practice). Company law require5 theTrusteestoprepareconsolidated financial statements foreach financialyearwhich give a triip. And fairviewofthe state of affairs of thecharitable company and of it• group. tsnd of the incoming resources and application of resouices.includingthe incomeand expenditure.of thecharitable companyand of its grou p for that period. In prepa ri ng those fi nancial statements. the Trustees are requ ired to select suita ble 3ccounti ng policies and then apply them consistently- observe the methods and principles in the Charity SORP-. make Judgements and estimates that are reasonable and prudent- state whether applica ble U K accou nting standards have been fol lowed.. and prepare the fi nancial statements on the goi ng concern basis u nless it is i nappropri ate to presu me that the charitable companywill continue in business. The Trustees are responsible for keepi ng proper and its accou nti ng records which disclose with reasonable accuracyat anytime the financial position of thecharitable company and of its group.and to enable them to ensu re that the fi nancial statements com ply with the Companies Act 2006. They a re also responsi ble for safegua rd i ng the assets of the charita ble company and of its group hence for taki ng reasonable steps for the prevention and detection of fraud and other irregularities. The Trustees a re responsible for the mai ntenance and i ntegrity of the corporate and fi nancial i nformation included on Contact'tr wcbsite. Legislation in the United Kingdom governing the prepardlioii dnd di ssemi nation of fi nancial statements may difler from legislation i n other jurisdictions. DISCLOSURE OF INFORMATION TOAUDITOR Each trustee has taken steps that they ought to have taken as a trustee in order to make themselves aware of any relevant audit information and to establish that the chariws auditor is aware of that information.The trustees confirm that there is no relevant audit information that they know of and which they know the auditor is unaware. POST BALANCE SHEET EVENTS There are no post balance sheet events to disclos AUDITORS The auditors,Ascendis Audit Limited.will be proposed forre-appointmentat the forthcomingAnnual General Meeti ng. 12111125 Approved by older of the board of trustees on .__._... and signed on its behalf by.. fessorJ de Groot Interim Chai r of the Board 14
f the Inde Manche ter endent A itor Peo le's The to the meMberf Limited The Opinion We have aud ited the fi nancial statements of Manchester Young People's Theatre Limited (The) Ithe'charita ble parent Company) and its subsidiary (-the group") for the year ended 31 March 2025 which comprise the Consolidated Statement of Fi nancial Activities. the Consolidated Statement of Fi nancial Pos ition. the Cha ritable Pa rent Company Statement of Fi nancial Position. the consol idated Statement of Cash Flows and Notes to the Financial Statements. including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is United Kingdom Accounting standards. comprising Charities SORP- FRS102"The Financial Reporting standard applicable in the UK and Republi¢ of Ireland- a nd applicable law Un ited Kingdom Generally Accepted Accou nti ng Practice). In ouropinion the financial statements= give a true and fair view of the state of the group's and the charitable parent company's affairs as at 31 March 2025 and of its incoming resources and application of resources. including its income and expenditure. fortheyear then ended: have been properly prepared i n accordance with United Ki ngdom Generally Accepted Accou nting Practice., and have been prepared in accordance with the requirements of the Companies Act 2006. Basis foropinion We conducted our audit in accordance with International Standards on Auditing (UK) IISAS (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors, responsibilities for the audit of the financial statements section of our report We are independent of the group i n accordance with the ethical requ irements that are relevant to our audit of the fi na ncial statements in the UK, including the FRC'S Ethical Standard. and we have fulfilled our other ethical responsibilities in accordance with these requi rements. We believe that the audit evidence we have obtai ned is suff icient and appropriate to provide a basis for our opinion. Conclusions relati ng to goi ng concern In auditi ng the fi nancia I statement.8. wp hxvp. r.nncluded that the trustees, use of the going concern basis of accounting in the preparation of the financial statements is appropriate. Based on the work we have performed. we have not identif led any materi al u ncertai nties relating to events or conditions that. individually or collectively. may cast significant doubt on the groups and the charitable companys ability to continue as a going concern for a period of at least twelve months from when the fi nanci as statements are authorised for issue. Our responsi bil ities and the responsi bi lities of the trustees with respect to goi ng concern are descri bed i n the releva nt sections of th is report. other i nformation The tru stees are responsible for the other information. The other information com prises the i nformation i ncluded i n the Report of the Chai r and the Report of the Trustees. other than the fi nanci al statements a nd our Report of the I ndependent Auditors thereon. Our opinion on the financial statements does not cover the other infoimation and, except to the extent otherwi se explicitly stated i n our report, we do not express any form of assurance conclusion thereon. ln connection with our audit of the financial statements. our responsibility is to read the other information and. in doing so. consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements. we are required to determine whether thi5 gives rise to a material misstatement i n the f inancial statements themselves. If. based on the work we have performed. we conclude that there is a material misstatement of this other information. we are requi red to report that fact We have nothing to report in this regard. 15
ort of the Ind endent Audtrtor Manche Youn Peo le. Th he Member Limited Th of Opinions on other matters prescribed by the Companies Act 2006 In ouropinion, based on thework undertaken in thecourse of the audit.. the i nformation given i n the Report of the Chai r and the Report of the Trustees for the f ina ncia l year for which the financial statements are prepared is consistentwith the financial statements: and the Report of the Chair and the Report of the Trustees has been prepared in accordance with applicable lega I reqLJ i rements. Matters on which we are required to report by exception In the light of thp. knowledge and understanding of group and the charitable parent company and itc envi ronment obtai ned i n the Course of the audit. we have not identified material m i sstatements i n the Report of the Chairorthe Report of theTrustees. We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to reporttoyou if. in ouropinion.. adequate gccounti ng records have not been kept or returns adequate for oui audit have not been received from branches notvisited by us.. or the f i na ncial statements are not i n agreement with the accounti ng records and retu rns- or certain disclosures of trustees, remuneration specified by law a not made.. or we have not received al I the i nformation and explanations we requ ire for our audit. Responsibilities of trustees As explai ned more ful ly in the Statement of Tmstees. Responsibi lities. the trustees (who are also the d irectors ofthe charitable parent company forthe purposes of company law) are responsible forthe preparation ofthe financial statements and for being satisfied that they give 8 true and fair view. and for such internal control as the trustees determi ne i s necessary to enable the prepa ration of fi nancial statements that are f ree from materia I mi sstat@menL whether d ue to fraud or error. In prepari ng the financial statements. the trustees are responsi ble for assessi ng the group and the charitable parent company's ability to continue as a going concern, disclosing. as applicable. matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the group or charitable companyorto cease operations.or have no aliStiC alternative but to do so. Auditorfs responsibilities for the audit of the financial statements Our objectives are to obtai n reasonable assurance about whether the fi nancial statements as a whole a ie f ree f rom materi al m isstatement. whether due to fraud or error. and to issue a Report of the Independent Auditors that includes ouropinion. Reasonable assurance is a high level of assurance. but is not a guèrantee thatan audit conducted in accordance with ISAS (UK) will always detect a material misstatement when it exists. Misstatoments can arise from fraud or error and are considered material if. individually or in the aggiegate. they cou Id reasonably be expected to i nfluence the economic decisions of users taken on the basis of these financial statements. The extent to which our procedu res are capable of detecti ng i rregu la rities. i ncludi ng f raud is detai led below.. I rregularities. includ ing fraud. are i nstances of non- compliance with laws and regu lations. We des ign procedures in line with our responsibilities. outlined above. to detect material misstatements in respect of i rregu larities, including fra ud. The extent to which our procedu res are capable of detecti ng irregularities. includingfraud is detailed below= We obtai ned an understanding of laws and regu lations that affect the charity. focusi ng on those that has a di rect effect on the fi nancial statements or that has a fu ndamental effect on its operations. Key laws and regulations that were identified included UK Building Regulations. the Health & Safety at Work etc. Act 1974, the Companies Act 2006. the Charities SORP 2019. and Charity Commission requirements. We reviewed the Trustees. meeting minutes for evidence of non- compliance with relevant laws and regu l ations. 16
rt of the Inde Manche Youn nt Audltors to he Member Peo The heatre LimitedLI of Auditors responsibil ities for thp. aijdit of the financial statements- continued We gai ned an understa ndi ng of the controls that the Trustees have in place to prevent and detect f raud. We enquired of the Trustees about arhy incidences of fraud that had taken place du ring the accounti ng period. The ri sk of f raud and non- compliance with laws and regulations and fraud was di scussed within the aud it team and tests were planned a nd performed to address these risks. We identified the potential for fraud in the followi ng areas.. misappropriation of cash and other assets. We reviewed the financial statements disclosures and tested to supportingdocumentation to assess the compliance with relevant laws and regulations discussed above. We enqu ired of the Trustees about actual and potentia I litiAation and claims. We performed ana lytical procedures to identify and u nusual or unexpected relationshi ps that might i ndicate risks of material misstatement due to fraud. In addressing the risk of fraud due to management override of internal controls we tested the appropriateness of journal entries and assessed whether the judgements made in making accou nting esti mates were i ndicative of a potential bias. Due to the inherent limitations of an audit. there is an unavoidable risk thatwe. may not have detected some material misstatements in the financial statements. even though we have properly planned and performed ouraudit in accordancewith auditingstandards.Forexample. aswith anyaudit.there remained a higher risk of non-detection of irregularities. as these may involve collusion. forgery. intentional omissions. misrepresentations, or the override of i nternal controls. We a re not responsi ble for preventi ng f raud or non- compl i ance with laws and regulations and cannot be expected to detect all fraud and non-compl lance with laws and regulations. A further description of our responsibilities for the audit of the financial statements is located on the Fi nancia l Reporti ng Council's webcite at www.fr¢.orsu klauditorsresponsibi lities. This descri ption form.q part of ou r Report of the I ndependent Auditors. Use of Dur report This report Is made solely to the charitable companls members. as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable companys members those matters we ale required to state to them in an auditors. report and for no other purpose.To thefullest extent permitted by law,we do notacceptorassume responsibilityto anyone other than the charitable company and thc charitable compangs members as a body. for our audit work. for this report.orforthe opinions we have formed. Paul Allan Byrne BA (Double Hons) FCA (Senior Statutory Auditor) Forand on behalf ofAscendis Audit Limited. Statutory Auditor Unit 3. Building2 The Colony Altrincham Road WilmsSow SK9 4LY 3112125 DaLe'. 17
Manchester Young People's Theatre Limited {The)
Consolidated Statement of Financial Activities
for the Year Ended 31 March 2025
| 31 March | 31 March | 31 March | 31 March | ||
|---|---|---|---|---|---|
| 2025 | 2025 | 2025 | 2024 | ||
| Notes | Unrestricted | Restricted | Total | Total | |
| Funds | Funds | Funds | Funds | ||
| £ | £ | £ | £ | ||
| Income and endowments from | |||||
| Donations and Legacies | 2 | 2,674 | 2,674 | 7,055 | |
| Charitable Activities | |||||
| Grants - Core Funding | 6&7 | 1,116,753 | 1,116,753 | 1,116,753 | |
| Operation of building & related | 6&8 | 160,786 | 160,786 | 160,722 | |
| artistic programme | |||||
| Provision of participatory | 6&9 | ||||
| activities | 4,062 | 104,938 | 109,000 | 93,318 | |
| Health & Science Activities | 6 & 10 | 567 | |||
| Other trading activities | 3 | 115,232 | 115,232 | 175,005 | |
| Investment income | 4 | 244 | 244 | (1,321) | |
| Other income | 5 | 55,000 | 49,500 | 104,500 | 56,381 |
| Total income | 1,454,751 | 154.438 | 1,609,189 | 1,608,480 | |
| Expenditure on | |||||
| Resources expended | 11 | 148,896 | 148,896 | 189,597 | |
| Charitable activities | |||||
| Operation of building & related | 12 | 1,074,566 | 329,894 | 1,404,460 | 1,778,609 |
| artistic programme | |||||
| Provision of participatory | 12 | 62,836 | 52,824 | 115,660 | 142,891 |
| activities | |||||
| Health & Science Activities | 12 | 12,958 | |||
| Total expenditure | 1,286,298 | 382.718 | 1,669,016 | 2,124,055 | |
| Net surplus/(expenditure) before | |||||
| tax | 168,453 | (228,280) | (59,827) | (515,575) | |
| Taxation | 13 | 12,075 | 12,075 | ||
| Net surplus/(expenditure) after | |||||
| tax | 180,528 | (228,280) | (47,752) | (515,575) | |
| Transfers between funds | 26 | (58,329) | 58,329 | ||
| Net movement in funds | 122,199 | (169,951) | (47,752) | (515,575) | |
| Reconciliation of funds | |||||
| Total funds bought forward | (29,127) | 6,766,700 | 6,737,573 | 7,253,148 | |
| Total funds carried forward | 93,072 | 6,596,749 | 6,689,821 | 6,737,573 |
The notes on pages 22 to 42 form an integral part of these financial statements.
18
Manehe ter Youn Th le• Theatre Limit021 Con olidated St ment of FinanciaLPO&in forthe Year En l March 2025 31 March 2025 Unrestricted Funds 31 March 2025 Restricted Funds 31 March 2025 Total Funds 31 March 2024 Tota I FLJnds Notes Fixed Assets TangibleAssets 19 14.207 6.597.418 6.611,625 6.900.806 Current Assets Debtors Cash At Bank 21 29 96.734 78.723 175.457 24.150 115.607 139.757 120.884 194.330 315.214 57.729 85,631 143.360 Creditors Amounts Falling Duewithin Oneyeaf 22 (96.592) (49.199) (145.791) (193.0391 Net cu rrent assetsl(liabi lities) 78.865 90.558 169.423 (46.678) Total assets plus/(less) current assetsllliabi lities) 93.072 6.687.976 6.781.048 6.851.127 Cred itors Amounts Falling Due After MoreThan One Year 24 (91.227) (91,227> (113.5541 Net assets 93.072 6.596.749 6,689.821 6,737,573 Funds Unrestricted Funds Restricted Fu nds Total funds 26 26 93,072 6.596.749 6,689.821 (29.127) 6,766.700 6,737,573 12111125 The fi na ncial statements were approved by the Board of Trustees and authori sed for issue on ........._.... and were signed on its behalf by.. fessor J de Groot Interim Chair of the 8oard The notes on pages 22 to 42 form an integral part of these financial statements. 19
Manch Peo Theatre Limited Co atement of Financial Po 31 March 2025 itio 31 March 2025 Unrestricted Funds 31 March 2025 Restricted Funds 31 March 2025 Total Funds 31 March 2024 Tota I Funds Notes Fixed assets Tangible Assets I nvestments 19 20 14.207 6,597.418 6.611.625 6.900.806 14.208 6.597.418 6.611,626 6,900,807 Current assets Debtors Cash At Bank 21 122,234 58.160 180.394 24.150 115.607 139,757 146,384 173.767 320.151 71,676 56.065 127.741 Creditors Amounts Falling Due Within Oneyear 22 196.593) (49,199) (145,792) (178.039) Net current assetsllliabil ities) 83.801 90,558 174.359 (50.298) Total assets plusl(less) current assetsl(l labilities) 98.009 6,687.976 6.785.985 6.850.509 Creditors Amounts Falling Due After MoieThan One Year 24 (91.227) (91,227) (113.554) Net assets 98.009 6,596,749 6.694.758 6.736.955 Funds Unrestricted Funds Restricted Funds 98,009 6,596,749 6,694.758 129,745) 6,766,700 6,736.955 Total funds 12111125 The f i na ncial statements were approved by the Board of Trustees and authorised for issue on .................................._. and were signed on its behalf by.. Professor J de Groot Interi m Chair of the Board The notes on pages 22 to 42 form an i ntegral part of these fi nan¢ial statements. 20
Manches er Peo re Limite Consolida Statement of for the Year Imar h Flow 31 March 2025 31 March 2024 Note Cash flows f rom operati ng activities Tax paid Net cash i nflowl(outf low) from operating activities 27 219.963 (12.323) 207.640 (73.558) (73,558) Cash flows f iom i nvesti ng activities Interest receivable and similar income Purchase of tangi ble fixed assets Net cash outflow from i nvesting activities 244 145.544) (45.300) (1,321) 18181 (2.139) Cash flows f rom fi nanci ng activities Repayment of loans and borrowings Interest payable Net cash outf low from fi nanci ng activities (21.5401 (25.205) (46.745) (20.782) 126.882) 147.664) Net i ncreasel(decrease) in cash and cash equiva lents Gash and cash equivalents at l April Cash and cash equivalents at 31 March 29 29 115.595 78.735 (123.361) 202.096 78.735 29 194.330 All of the cash flows are derived f rom continuing operations duri ng the above two periods. The notes on pages 22 to 42 form an integral part of these financial statements. 21
Man h t ryoun Peo h tre Limited The No e<he Consolidated Finan -al Statement for the Year En 31 March 2025 ACCOUNTING POLICIES Basis of prepari ng the fi nancial statements The financial statements have been prepared in accordance with A¢¢ounting and Reporting by Cha rities- Statement of Recommended Practice applicable to Charities preparing their a¢¢ou nts i n accordance with the Financial Reporting standard applicable in the UK and Republic of Ireland IFRS 102) (effective l January 2019)- (Charities SORP (FRS 102)).the Financial Reportingstandard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006. P.nntgCt meets the definition of a public benefit entity under FRST02_ Assets and liabilities are recognised at h i storica I cost or transaction value u nless otherwise stated in the relevant accounti ng policy notes. The f i nanci al statements are prepared i n Pou nd Steili ng (£). which is the functional currency of the entity. Amounts are rounded to the nearest £. Basis of consolidation The group financial statements consolidatethefinancial statements of the company and its subsidiary undertaking drawn up to 31 March 2025. A su bsidia ry is an entity control led by the charity. Control is achieved where the charity has the power to govern the fi nancial and operati ng policies of that entity so as to obtain benefits from its activities. The subsidiary undertakingwas incorporated as a subsidiary on l April 2020 and was dormant from that date unti131 March 2022. Its results and balances have therefore only been consol idated from I April 2022. I ntercompany transactions and balances between the charity and its su bsidiary undertaki ng are eliminated in full on consolidation. No Statement of Financia l Activities is presented for the charita ble parent com pany as permitted by section 408 of the Companies Act 2006. The charity made a deficit after tax of £42.197 (2024.. £516.193). Critical accountingjudgements and key sources of estimatior) uncertainty The preparation of the financial statements requires management to make judgements. estimates and assumptions that affect the amounts reported.These estimates and judgements are continually reviewed and 2 re based on experience and other factors. i ncludi ng expectations of future events that a re bèl ieved to be reasonable u nder the ci rcumstances. Significantjudgements The jLJdgements (apart from those involving estimations) that management has made in the process of applying the accounting policics and that have the most significant effect on the amounts recognised i n the fi nancial statements are as follows- Determi nation of whether there are indicators of i mpairment of the ta ngi ble fixed assets. Factors taken intoconsideration in reachingsuch a decision includetheeconomicviabilityand expected future financial performance orcharitable use of the asset Determi nation of whether leases entered i nto as lessee are operating or fi nance leases. These decisions depend on an assessment of whether the risk5 and rewards of ownership have been transferred from the lessor to the lessee on a lease by lease basis. 22
Manche Youn Peo Theatre Li The Notes olidated Fi ncial State nt for th Year Ended l March 2025 con ACCOUNTING POLICIES - continued Key sources of estimation uncertainty Accounti ng esti mates and assumptions are made concerni ng the future and. by their nature. will rarely equ a I the related actual outcome. The key assumptions and other sources of estimation uncertai nty that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the nextfinancialyearare as follows-. Determi nation of recoverabi lity of trade debtors. A specific provision i s made agai nst certai n debts where i n the opi nion of the trustees the debt is not fully recoverable. Tangible f ixed assets are depreciated over thei r usefu I lives taki ng i nto accou nt resi dual values. where appropriate. The actual lives of the assets and residual values are assessed annually and may vary depending on a number of factors. In re-assessing asset lives. factors such as technological innovation. product life cycles and maintenance are taken into account Residual value assessments Consider issues such as future market conditions, the remai ni ng life of the asset and projected disposal values. Income recognition policies Items of i ncome are recognised and included i n the accounts when all of the followi ng criteria are met.. the Charity has entitlement to the f unds.. any performance conditions attached to the itemls) of income have been met or are fully within the control of the Charity.. there is sufficient certai nty that recei pt of the income is considered probable- and the amount can be measured reliably. Income received in advance of a theatrical performance or provision of other specified service is deferred unti I the criteria for income recognition are meL Donations and legacies Donations are recognised when the charity has been notified in writing of both the amount and settlement date. In the event that a donation is subject to conditions that require a level of performance by the charity before the charity is entitled to the funds. the i ncome is deferred a nd not recognised until either those conditions are fully met. or the fulfilment of those conditions is wholly withi n the control of the charity and it is probable that these conditions will be f u Ifilled i n the reporti ng period. Grants Receivable Grants are recognised when the charity has an entitlement to the funds and any conditions linked to the grants have been met where performance conditions are attached to the grant and are yet to be met. the i ncome is recognised as a liability and included on the balance sheet as deferred i ncome to be released. Deferred Income Deferred i ncome represents amounts received for future periods and is released to i ncom i ng resources in those periods. Such income is only deferred when.. The donor specif ies that the grant or donation must only be used in future accou nti ng periods: or The donor has imposed conditions which must be met before the charity ha5 unconditional entitlement Investment Income Interest on funds held on deposit is included when receivable and the amount can be measured rel iably by the charity.. this is normal ly upon notif ication of the interest paid or payable by the bank. 23
Manth er Youn Pe Theatre Limit The to the solidated Finan ial Statement forthe Y r Ended 31 March 2025 ontinued ACCOUNTING POLICIES - continued Expenditu re and irrecoverable VAT Expenditure is recognised once there is a legal orconstructiveobligation to make a payment to a third party. itis probable thatsettlementwill be required and the amountof theobligation can be measured reliably. Expenditure is classified underthe followingactivity headings= Costs of raisingfunds=comprisethecosts oftradingincludingcommercial hires andtheirassociated SLipport cogts 2nd fundraisingsupportcosts. Expenditu re on charita ble activities- includes the costs of performances, tou ri ng. partici patory work and other activities undertaken to further the purposes of the Charity and thei r associated su pport costs. Expenditu re on the capital redevelopment project is also included in this headi ng. other expenditure.. represents those items not falling i nto a ny other head i ng Irrecoverable VAT= is charged as a cost aga inst the activity for which the expenditu re was i ncu rred. Al location of support costs Support costs are those functions that assist the charitys work but do not directly undertake cha ritable activities. Support costs include back-office costs. fi nance, person nel. payrol l a nd governance costs which support Contacvs artistic programme and participatory activities. The bases on which s LJ Pport costs have been al located are set out i n note 14. Governance Costs These include the costs attributable to the charitys compliance with constitutional and statutory requi rements. includ i ng aud it. strategic ma nagement a nd trustees meeting and rei mbu rsed expenses. Taxation The cha rity is Considered to pass the tests set out in Paragraph I Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly. the charity is potentially exempt from taxation in respect of income or capital gains received withi n categories covered by Chapter 3 Pa rt 11 of the Corporation Tax Act 2010 or section 256 of the Taxation of Chargeable Gains Act 1992. to the extent that Sljch income or gains are applied exclusivelyto charitable purposes. Where the Charity5 trading turnover is higher (or lower) than the small trading exemption. UK corporation tax is provided at a mou nts expected to be paid (or recovered) usi ng the tax rates a nd laws that have been enacted or subsequently enacted at the reporti ng date on trad ing profits. The Charity will clai m Theatre Tax Credits for loss making performances i n l ine with H MRC gu idance when eligible. Its su bsidiary. Contact Events Limited, is subject to corporation tax provided at a mou nts expected to be paid (or recovered) usi ng the tax rates and laws that have been enacted or subsequently enacted at the reportingdate. Tangible fixed assets I nd Ivid ual f ixed assets costi ng £500 or more are capitalised at cost and are depreciated over thei r estimated useful economic lives on a straight-line basis as follows.. Long term leasehold buildings Fixtures and fittings CompLJterequipment Motorvehicles Land 2-10/. 3.85- 20% 33.33% 20% Not depreciated Bu i Id i ng redevelopment construction costs are capitalised in the year they occu r and depreci ated over the rema i ni ng length of the lease. Fixtures and fittings purchased as part of the ca pital redevelopment 24
Manche te Peo Th he re Limit d (Ll lidated Financ I Statement forth Y r Ended 31 Mar h 2025 ontinued ACCOUNTING POLICIES- continued Tangible fixed assets- continued project a re not depreciated u nti I the date of use. Professional fees relati ng to the capital redevelopment project have been expensed in the year they occurred. Do nated fixed assets a recognised at fai r value which is the amou nt Contact would have been will i ng to pay forthe items on the open market Financial i nstruments The charity only has financial assets and financial liabilities of a kind that qualify a5 basic financial i nstruments. Debtors Trade debtors are iecognised at the settlement amount due after any trade d iscou nt offered less any provi sion for doubtful debts. Prepayments and other debtors are valued at a mortised cost Cash and Cash Equivalents Cash at bank and in hand includes cash and short term highly liquid investments with a short maturity of thiee months or less from the date of acqu isition or opening of the deposit or si mi la r account Creditors and Provisions Cred itors and provisions are recognised where Contact has a present obl igation resu Iti ng f rom a past eventthatwill probably result in thetransferof funds to a third party and the amount due to settle the obl igation can be measu red or estimated reliably. Creditors and provisions are normally recognised at thèirsettlementamountafterallowinc forany trade discounts due. Borrowings Interest-bearing borrowings are initially recorded at fair value. net of transaction costs. Interest- bearing borrowings are subsequently carried at amortised cost. with the difference between the proceeds. net of transaction costs. and the amount due on redemption being recognised as a charge to the Statement of Fi nanci al Activities over the period of releva nt borrowi ng. Interest expense is recognised on an accruals basis. Borrowings are classified as current liabilities unless the charity has an unconditional right to defer settlement of the liabi lity for at least twelve months after reporting due. Fund accounting U nrestricted funds are ava i lable to spend on activities that fu rther any of the purposes of the cha rity. Restricted funds are donations which the donor has specified are to be solely used for particularareas of the charitys work or for 5 pecific artistic projects bei ng u ndertaken by the charity. Further explanation of the nature and purpose of each fund is included in the notes to the financial statements. Pensions and other post-retirement obligations The cha rity contri butes to a group money purchase defi ned Contribution pension scheme operated by The People's Pension. New a nd exi sti ng employees are automatically enrolled i nto the money pu rc hase scheme unless they have exercised the right to opt out of scheme membership. Employees join the money purchase pension scheme operated by The People's Pension. contract d i rectly with the i nsu rance com pany. The charity makes a matching contri bution of 3% of salary to this pension schemeand acts as Bgentincollectingand payingoveremployee pensions contributions.The contributions made for the accounting period are treated as an expense and were £11.278 12024.. £15.666). There were no contri butions outstandi ng at the balance sheet date. 25
Pe Li Not Con t temen Mar ACCOUNTING POLICIES- continued Operating Leases Renta I charges are Charged on a straight-line basis over the term of the lease. Going concern The Trustees have carefully considered The Charitys goi ng concern position with regard to its Arts Contact has recently been awarded funding for the next cycle of NPO funding which covers the th ree years from April 2023 to March 2026 and we understand that this funding ha5 been extended into 2026-27 year although this has not been formally notified in writing. Council England's National Portfol io Orga nisation (NPO) fu nding Contact has recently been awarded fund i ng for the next Cycle of NPO funding which Covers the three years from April 2023 to March 2026 and further with the additional 2026-27 year open for applications from ACE. Manchester City Council and the Greater Manchester Combined Authority (GMCA) have confirmed funding for the period to March 2026. Although the NPO funding continues at the same level, we continue to seek new funding partners and have been successful at increasing funds to support our core work. The Charity is unli kely to meet its commercial profit targets for 2025-26 though we plan to develop these nCorne streams further i n 2026-27. This will have a potential impact on the Charity bottom l i ne. Contact's reserve yoliby requ irement of free reserves coveri ng three months. operati ng costs are not met at the end of the period. Contact has budgets in place to build free ServeS toward three months operati ng costs over the cu rrent NPO funding period. Contact has prepared m itigation steps i ncluding new fina ncia l and commercial strategies over the next two years to bu ild free reseNe and continue to focus on its mission by.. Prioritisingvalue for money programme. Conti nue to drive cost cutti ng exercises to reduce expenditure. New bLJsiness model to generate voluntary and trading income. Robustfinancial monitoring and assessment using monthly management accounts. Fi nancial health check through stri ngent monthly cash flow forecast and quarterly budget review. Maximise the efficiency of its commercial business model to generate income. The Trustees recognise the current financial position of Contact and. having assessed the new financial and commercial strategies including the cash position and the mitigation steps (including the renewal of the current overdraft facility as a buffer). are therefore satisfied that it is appropriate to prepare the financia I statements on a going concern basis. DONATIONS AND LEGACIES 2025 2024 Donations Legacies 2,639 7,055 2.674 7,055 Income f rom donations i ncludes Gift Aid f rom individual givi ng From time to ti me Contact benefits from the involvement and support of volunteers. In accordance with accounting standards. the economic contri bution of general volunteers is not re¢ognised i n the ac¢ou nts. 26
Li No lidate teme Imar OTHER TRADING ACTIVITIES 2025 2024 ar & catering Hire of spaces Hire of equipment Office hi res Retail Consultancyfee Commission income Services income (300) 110.303 6,984 137.283 356 7.379 83 7.792 4.023 2.320 (4,553> 15.720 2.265 582 115.232 175.005 INVESTMENT INCOME 2025 2024 Investment incomg OTHER INCOME Unrestricted Restricted Funds Funds 2025 2025 Total Funds 2025 Tota I Funds 2024 Coutts Foundation revenue grant Coutts Foundation cost of l iving payment other Wolfson Foundation 50.000 5.000 50,000 5.000 50.000 5.000 1.381 49.500 49.500 55,000 49.500 104,500 56.381 INCOME FROM CHARITABLE ACTIVITIES 2025 2024 Activity Grants- Core Funding Operation of building & related artistic programme Provision of partici patory activities Health & Science Activities (note 7) (note 8) (note 91 (note 10) 1.116.753 160.786 109.000 1,116,7S3 160.722 93.318 567 1.386.539 1.371.360 27
Manch t r Youn Theatre Limite te to the nsolidated Finan ial Statement for the Ye r Ended 31 March 202 UNRESTRICTED GRANT INCOME FROM CORE FUNDERS 2025 2024 Arts Council GMCA IGreaterManchesterCulture & Social Impact Furid) Manchester City Council University of Manchester 933.297 106.700 35.676 41.080 933,297 106.700 35,676 41.080 1.116.753 1.116.753 Al I relate to u nrestricted fu nds. INCOME FROM OPERATION OF BUILDING AND RELATED ARTISTIC PROGRAMME Unrestricted Funds 2025 Restricted Funds 2025 Total Funds 2025 Tota I Funds 2024 Income from theatre performances 160.786 160.786 160,722 INCOME FOR PROVISION OF PARTICIPATORY ACTIVITIES UnresLiiGLed Funds 2025 Restricted Funds 2025 Total Funds 2025 Total Funds 2024 BBC Reverse Mentoring The Agency Youth & Play (Young Manchester) Manchestercity Council (Pop Up Beats Workshop) 300 78.018 15.000 4.062 98.668 102,730 6,270 104.938 6,270 109.000 4.062 93.318 10. INCOME FOR HEALTH & SCIENCE ACTIVITIES Unrestricted Funds 2025 Restricted Funds 2025 Total Funds 2025 Total Funds 2024 GMCDP 28
Ma h ter Youn Theatr The Note he Consolidat Financial Stat ment r the Year Ende l March 202S RESOURCES EXPENDED Raisi ng donations and legacies 2025 2024 Fundraising support costs Commercial tradingoperations 79,481 69.415 93,032 96.565 148.896 189.597 12. CHARITABLE ACTIVITIES COSTS Operation of building& related artistic programme 2025 Provision of participatory activities 2025 Health & Science Activities 2025 Total 2025 Tota I 2024 Salaries Faci litator fees. project costs & expenses Travel. accommodation & subsistence Production & touringcosts Arti sts fees and box off ice splits Commissioning & artist development Box office & marketing costs Premises & technical costs Finance charges Recruitment & training Bad debts &write offs Depreciation Governance costs (note14) Su pport costs (note 14) 630.261 38,296 668.557 859.906 3.756 12.973 16,729 40.885 3.376 32,179 3,125 46.763 6.501 78.942 1.391 92.960 54.492 8.276 62,768 89,976 3.100 2.236 214.591 25.187 14.572 5.310 838 18 61 7.546 215.429 25.205 14.633 16.284 243.797 26.882 5.624 334.725 334.725 362.351 45.182 43.903 45.182 43,903 103.483 87,819 1.404.460 115.660 1,520.120 1.934.458 Of the expenditure amounting to £1.520,120 (2024.. £1.934.458). £1.137.402 (2024.. £1.520.547) was charged to u n restricted fu nds and £382.718 (2024= £413.911} was charged to restricted funds. 13. TAXATION 2025 2024 Theatre Tax Relief (12.075> (12.075) The Group has no liability to tax in eitheryearas it made taxable losses on its tradingactivities in both years. At the year end the amount of trading losses to carry forward amounted to £57,820 (2024.. £2.759). 29
Manche r Youn Pe Theatre Lim The tothec .olidated Fin ncial Statemen for the Year E_nded 31 March 2025 ntinued 14. ANALYSIS OF GOVERNANCE AND SUPPORT COSTS General Governance support function 2025 2025 Total 2025 Total Basis of 2024 apportionment Cateri ng for board & tru stee meeti ngs Salaries.wages and related costs Genera l office costs Audit & tax fees 2.656 2.656 80 Di rect 512 43.391 512 74.917 11,000 28,412 147.846 14.964 staff ti me Direct Direct 31.526 11.000 43.903 45.182 89.085 191,302 15. NET IMCOMEI(EXPENDITURE) Net i ncomel(expend iture) is stated after chargi ng= 2025 2024 Depreciation - owned assets Operati ng leases Audit fees Non auditfees 334.725 2.136 10.250 750 362,351 2.136 14,114 850 Of the audit fees i n 2024, £4,764 was payable to the previous auditor in respect of thei r 2023 audit. 16. TRUSTEES, REMUNERATION AND BENEFITS Except those disclosed in note 31. no trustees. nor any persons connected with them. have received any remuneration or any other benefit from the group duringtheyear. The grou p paid £nil (2024". £130) for rei mburseij expenses to two trustees duri ng the year. of which £n il (2024.. £50) was for reim bursement of travell ing cost and £ni l (2024= £80) was for reimbursement of a board d i nner. No other trustees have received any rei mbursed expenses duri ng the year. 17. STAFF COSTS 2025 2024 Wages and salaries Social security costs Pension costs Redundancy costs 720,655 43.585 11,278 8.000 783.518 973.060 48.618 15,666 1,037.344 The average monthly num ber of full-time equivalent employees (includi ng casua l and part-ti me stafQ du ri ng the year was as follows.. 2025 No. 2024 No. Perma nent staff i ncludi ng part-time One employee received emoluments between £60.001- £70.000 (2024- nil). No employees were paid over£70,001 in eitheryear. 30
Man h teryou Peo heatre L. ited Notes he Consoli ted Finan ial Stat ent rtheye Ended 3 arch 202 inue 17. STAFF COSTS- continued Pension costs are allocated to activities i n proportion to the related staffi ng costs i ncurred. The key management personnel ofcontactcomprise theTrustees, the Chief Executive officer.the Head of Creative Engagement (rose now discontinued). and the Director of Finance. The total employee benefits of the key management personnel were £187.751 (2024= £200,260). 18. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES Unrestricted Funds Restricted Funds Total Funds Income and endowments from Donations and legacies 7.055 7.055 Charitable Activities Grants Core Funding Operation of building & related artistic programme Provision of partici patory activities Hea Ith & Science Activities othertradingactivities Investment income other i ncviri¥ Total income 1.116.753 1,116,753 160.722 6.562 567 175.005 (1.321) 56.381 1.521,724 160,722 93.318 567 175.005 (1.321) 56.381 1,608.480 86.756 86,756 Expenditure on Resources expended 189.597 189.597 Charitable Activities Operation of bui 5di ng & related artistic programme Provi sion of participatory activities Health & Safety Activities 1.445,632 73.044 1.871 332.977 69.847 11,087 1.778.609 142,891 12.958 Tot81 expenditure l.aO.144 413.911 2.124.055 Net expenditure before tax Taxation Net expenditure aftertax (188.420) (327,155> (515.575) (188.420) 1327.155) (515.5751 Transfers between funds (13.058) 13.058 Net movement in funds (201.478) (314.097) 1515.575) Reconciliation of funds Tota I funds brought forwards 172,351 7.080.797 7.253.148 Total funds carried forward (29.127) 6.766,700 6.737.573 31
anche Th re Limit The Note the Con lidated Financial S tement _r the Ye r Ended 31 March 2025 ntinued 19. TANGIBLE FIXED ASSETS Group and company Freehold Property Fixtu res and Fitti ngs Motor Vehicle5 Computer Equipment Totals COST At l April 2024 Additions 10.465.508 227.474 45.544 15.469 174.713 10.883.164 45,544 At 31 March 2025 10.465.508 273.018 15.469 174.713 10.928,708 DEPRECIATION At l April 2024 Charge foryear 3.701.069 308.775 110,987 15.949 15.469 154.833 10.001 3.982.358 334.725 At 31 March 2025 4.009,844 126.936 15.469 164.834 4.317,083 NET BOOK VALUE At31 March 2025 6,455.663 146,082 9.880 6,611.625 At 31 March 2024 6.764.439 116.487 19.880 6.900,806 20. FIXED ASSEf INVESTMENTS Company Share in Subsidiary undertaking As atl April 2024 and at 31 March 2025 Details ofthe investment in which thecompany holds MO than 20% ofthe nominal value of any class of share capital a re as follows.. Company Number Undertakin Proportion of shares and votin hts held Re istered office Holdin Contact Events Limited 12543422 Devas Street. Oxford Road. Manchester. M15 6JA Ordinary loo% 32
the ter Peo The Limi The Note he Cons lidated Financial S atement for the Y r Ende 31 March 2025 -con 20. FIXED ASSET INVESTMENTS- continued Contact Events Limited Year ended 31 March 2025 Year ended 31 March 2024 Income Expenditure Trad ing Iloss)/prof it Profit gift aided to the charity (Loss)Iresult for the year 116.432 (121.990) (5.558) 144.678 (104.966) 39,712 (39.712) (5.558) 31 March 2025 31 March 2024 Tota l Assets Total Liabilities Net (Liabil ities)IAssets 22.325 127.862) (4,937) 69.219 (68.598) 621 The subsidiary ceased tradingon 30 September2024 and is now dormant 21. DEBTORS.. AMOUNTS FALLING DUE WITHIN ONE YEAR Group compan.y 2025 2024 2025 2024 Trade debtors Amount owned by subsidiary VAT Corporation tax Prepayments and accrued income 32.190 33.165 29.828 4.017 53,598 27.862 22.580 24.398 22.580 24.398 1.949 681 41.716 120.884 22.615 57.729 41,716 146.384 13.380 71,676 33
tery Theatr mited Th ote he Con for ated Finan ial Statem nt he YearEnd d 31 Mar h 2025 contin 22. CREDITORS.. AMOUNTS FALLING DUE WITHIN ONE YEAR Group Company 2025 2024 2025 2024 Other loa ns (see note 25) Bank overd raft Trade creditors Social security and other taxes Other creditors and custodian funds (note 23) Accruals Deferred income 22,327 21,540 6.896 66,584 25.415 13,032 33.566 26.006 193.039 22.327 21.540 6.896 66.584 25,415 13.032 18,566 26.006 178,039 34.012 12.617 7.493 22.906 46,436 145.791 34,012 12.617 7.494 22.906 46.436 145.792 Deferred income comprises advance ticket sales for performances of shows and income for projects due to take place after 31 March 2025 a nd is analysed below= Group and company 2025 2024 AtIApril Released inyear Deferred i n year At 31 March 26.006 (26,006) 4fi.436 46.436 12.407 (12,407) 26.006 26.006 23. CUSTODIAN FUNDS Contact acted as a Custodian trustee during the year for five independent projects run by ex- participants of Contact's programmes. All funds are held as cash in bank. Group and company Balance at l April 2024 Funds Balance at received Funds paid 31 March 2025 Hate Crime Awareness Uniquely Us Dawn to the Light Ku Itu re Fest 40 626 175 842 626 175 12.180 111.338) 13.021 111.338) 1,683 24. CREDITORS: AMOUNTS FALLING DUE AFfER MORE THAN ONE YEAR Group and company 2025 2024 Other loans (note 25) 91,227 113,554 34
Pe he Con idate Financ the Ye rEnd Ista ment eh2 Ontined 25. LOAMS An analysis of the maturity of loans is given below: Group and company 2025 2024 Amounts falling due within one year on demand= Other loans 22.327 21,540 Amounts falling beeen one and two years: other loans - 1-2 years 23.141 22,327 Amounts falling due between two and five years= other loans- 2-5years 68,086 71.988 Amounts falling due in more than fiveyears: Repayable by i nstal ments.. other loans over more than 5years by instalments 19.239 Manchester City Council has provided a £200.000 loan at a rate of 2.7% + the EC Reference Rate which i s the variable rate. Manchester City Cou ncil holds quasi-security over The Manchester You ng People's Theatre bu ildi ng. whereby a negative pledge is in place. 35
Manchester Y peOple. Th tre Li Th oth Con olidated Financial S atemen for he Year Ended 31 March 2 con 26. MOVEMENT IN FUNDS Forthe year ended 31 March 2025 Net movement in funds Transfers between At fu nds 31 Mar 2025 At l Apr 2024 Unrestricted funds U nrestricted fund Designated fund Icapital Redevelopment Project) 185.051) 180.528 12.405) 93.072 55.924 (29.1271 155.924) (58.329) 180.528 Restricted funds The Agency (Reaching Communities) 2021 _ 26 Weston Cultu re Fund Curiosity Fund Buildingfund Diverse Action (Live Art UK) Capsule 2119 Youth & Play {Young Manchester) Manchestercitycouncil Health & Care Commissioning TheAgencyAlumni BBC reverse mentoring Manchester City Council - Pop Up Beats Workshop CYC Baring 93,072 25,109 2.038 500 6,699.042 1.206 S89 21.498 50.928 76.037 2.038 500 6.474,572 1.206 589 21.498 (280.394) 55.924 13.759 2.529 430 13,759 2.529 430 3,591 (2.405) 3,591 2,405 6.766.700 (228.2801 58.329 6,596.749 TOTAL FUNDS 6.737.573 (47,7521 6.689,821 36
nchest Youn eo Thea Limi The Note thec olidat d Finan ial St tement forth Year E ded 3 March 2025 -co 26. MOVEMENT IN FUNDS-continued Forthe year ended 31 March 2025 Net movement in funds. incSuded in the above are as follows= Incoming resources Resources expended Movement in funds UnTestricted funds Unrestricted fund 1.466.827 11.286299) 180,528 Restricted funds The Agency IReaching Communities) 2021-26 Weston Culture Fund Cu riosity Fund Buildingfund Diverse Actions (Live Art UK) Capsule 2119 Youth & Play Iyoung Manchester) Manchester City Council Health & Care Commissioning The Agency Alumni BBC reverse mentoring Manchester City Council- Pop Up Beats Workshop CYC Baring 98.668 (47.740) 50.928 49,500 (329.894) 280.394 6.270 {2,679) (2.405) 3,591 (2.4051 154.438 1382,718) (228.280) TOTAL FUNDS 1.É21,265 (1.669.017> 147.752) There were no significant transfers between reserves during the period. 37
Youn eo le. heatre L"mited ote he Con olidat . Finan for the Y ar Ende I State Imar ents 025 inued 26. MOVEMENT IN FUNDS-continued For the year ended 31 March 2024 Net movement in funds Transfers between funds At 31 Mar2024 At l Apr 2023 Unrestricted funds Un restricted fund Designated fu nd Icapital Redevelopment Project) 116.427 (188.420) 113.058) (85,051) 55.924 55.924 172.351 (188,420) Restricted funds The Agency (Reaching Communities) 2021- 26 Weston Culture Fund Cuiiosity Fund Euildingfund Diverse Actions (Live Art UK) MCR Active- Holiday Action Fund Youth & Play {You ng Manchester) Manchester City Cou ncil Health & Care Commissioning The Agency Alumni GMCA Outreach GMCVO-Trauma responsive 88C Reverse Mentori ng MDreThan Skin Deep Capsule2119 (13.0581 {29,127) 3,973 2.038 500 7,032.019 1.206 2,457 11.282 21.136 25.109 2,038 500 6.699,042 1,206 (332.977) (T2.992) 10.216 10,535 21.498 16.863 2.529 (3.104) 13.759 2.529 {355) (7,635) (1.1601 355 2.175 5.460 1.590 430 (7) 880 (291) 589 7.080.797 (327.155) 13.058 6,766.700 TOTAL FUNDS 7.253.148 {515.575) 6,737.573 38
Manchester Y Theatr The to the Consolida d Financial Stat nt forthe Year 31 March 2025 AA -con 26. MOVEMENT IN FUNDS- continued Fortheyearended 31 March 2024 Net movement in funds. included in the above are as follows= Incoming resources Resources expended Movement infunds Un restricted fu nds U nrestricted funds 1.521.724 1,521.724 (1.710.144) (l.aO.144) (188,420) (188,420) Restricted fu nds The Agency (Reaching Communities) 2021- 26 Buildingfund Youth & Play (Young Manchester) Capsule 2119 Manchester City Council Health & Care Commissioning GMCA Outreach GMCVQ-Trauma resporisive MoreThan Skin Deep BBC reverse mentoring MCR Active- HolidayAction Fund .456 (50.320) 21.136 (332.977) (4,784) 1291) (3,104> (3551 17.635) (332.977) 10.216 (2911 13,104) 1355) (7.635) 15.000 300 (1,460) (1,1601 TOTAL FUNDS There were no significa nt transfers between reserves in 2024. Funds Name offund U nrestricted fund Description. nature and purpose ofthe fund The'u nrestri¢ted reserves" after al lowi ng for all designated f unds and i ncludi ng uniestri¢ted fixed assets. Designated fund Designated fu nd for Capital Redevelopment Project Name of restricted fund Description. nature and purpose of the fund Active The Agency (Reaching Communitiesl 2021- 26 Reachi ng Communities is fundi ng the conti nuation of The Agency ProjecL This covers Battersea Arts Centre in 2024125. Building Fund The Buildingfund was established to rebuild and extend the existingtheatre and was funded byTheArts Council of England. Expenditure represents the annual depreciation charge. Capital Redevelopment costs are transferred to the Bui Idi ng fund. 39
imited nt l March 202 for the Y 26. MOVEMENT IN FUNDS- continued Completed Weston Culture Fund Garfield Weston Foundation funded cultural organisations to restart their work after Covi d-19 and to re-engage audience It supported and outdoor programme of activities and events Curiosity Fund A partnership between BBC Children in Need and Wellcome which funded a new arts project forchildren aged 15-16 within an area of high deprivation who may have been d isabled or experience menta I health issues Diverse Action (Live Art U K) Contact was a partner in the Live Art UK Diverse Actions project which commissior)ed BAME live artartists to make new work Capsule 2119 The PRS Foundation supported the creation and performance of 16 new songs that subsequently became a time capsule for the Year 2119 placed withi n Contacvs refurbished bui Idi ng Youth & Play (Young Manchester) Young Manchester f unded a grant to C(Fdel iver a 12 month pi lot project that enabled young people from working class backgroundv in Manchcstci to explore art and activism Manchester City Council Health & Care Commissioning A one off project in 2023124 where Manchester City Council funded a community Arts Intervention with young parents in Wythenshawe The Agency Alumni Another project funded as part ofThe Agency Project BBC Reverse Mentoring This scheme connected 25 young people from Contacys network to 25 staff members across BBC Children & BBC Education in a 12 month reciprocal mentoring scheme Wolfson Foundation This was a one off project in 2024125 which funded capital expenditu re (being LED lighti ng throughout the Theatre). Manchestercity Council- Pop Up Beats Workshop Pop Up Beats was a music programme in 2024125 which was delivered i n schools. rather than at Contact The ai m was to use gioup music making. with live instruments. to improveyoung people's mental health and wellbeing as well as developingtheir self-confidence. Led by a Music Therapist i n Residence. from Nordoff & Robbi ns. in schoolsleducationa I setti ngs. 40
he ter Youn Peo re Limited The the Con olidated Fina I Statements - r Ended 31 Ma25 27. RECONCILIATION OF NET MOVEMENT IN FUNDS TO NET CASH FLOW FROM OPERATIONS 2025 2024 Deficit forthe reporting period Adjustments for. Depreciation charges Interest payable Interest receivable Decreaselli ncrease) in debtors (Decrease)/i ncrease i n cred itors (59.827) (515.575) 334.725 25.205 (244) (38.757) 141.139) 362.351 26.882 1.321 126.492 (75.029) Net cash generated byl(used in) operations 219.963 (73.558) 28. ANALYSIS OF CASH AND CASH EQUIVALENTS 2025 2024 Notice deposits (less than 3 months) Bank overdraft 194.330 85.631 16,896) Total cash and cash equivalents 194.330 78.735 29. ANALYSIS OF CHANGES IN NFf (DEBTIIFUNDS At l Apr 2024 Cash flow At 31 Mar 2025 Netcash Cash at bank 8a nk overd raft 85.631 (6.896) 108.699 6.896 194,330 Total 78.735 115.595 194,330 Debt Other loan due < l year other loan due > l year (21.540) (113.554) 1787) 22.327 (22.327) 191.227) Total 21 Net Idebt)If u nds 30. OTHER FINANCIAL COMMITMENTS At the reporting date the group and company had capital commitments amounting to £nil (2024: £3.1471. The tota I future mi ni mum lease payments u nder non-cancellable operati ng leases a re as fol lows.. Group and company 2025 2024 Not later than oneyear 534 534 41
Man host r Youn Peo hea re Limited Th te to the olidated Finan tatements - con for the Year E ed 31 March 2025 inu 31. RELATED PARTY DISCLOSURES Contact and the University of Manchester have an agreement which allows for Contact to lease the building from the University. to access some facilities and services. and to collaborate with the University on programming some events for and by students. On this basis Contact feels it is a ppropriate to disclose tra nsactions with the University as related party transactions. The University of Manchester awarded grants to Contact of£41.080 (2024.. £41,080).The Arts Council of Engia nd which prnvidp..q rore fundi ng to Contact has a chaige over the land s nd bL+ildi ngs of Contact. Contact received consultancy service i ncome. box office i ncome, hi re of space and other i ncome Df £2.866 (2024.. £4.583) from the Universityof Manchester, ofwhich £30112024.. £nil) was deferred at the yearend.There was an outstanding balance due from the Universityof£l.179 as at 31 March 2025 (2024.. £600). Contact purchased goods and services from the University of Manchester amounting to £nil (2024= £40) duri ng tho year. There were no outstanding balances due to the University at either year end. Two trustees were engaged on a freelance basis for various projects throughout the previous year, although not in their role as trustees: Ms A Wilson (resigned IS/ii12023) received £300, and Mr C Cremi n (resigned 15111120231 received £500. There were no such transactions i n the current year. Do nations from Trustees amounted to £ni l (2024= £nil) in the year. There were no outstanding balances due tolfrom any trustees as at 31 March 2025 (2024= £nil). At the reporting date the charity was owed £27.862 (2024: £53.598) by Contact Events Limited. 32. GENERALINFORMATION The charity is 2 company limited by guarantee. incorporated in England and Wales. and has no share capital. In the event of Contact beingwound up.the liability in respect of theguarantee is limited to £1 per memberofthe charity. The regi stered office address is Contact Theatre. Devas Street. off Oxford Road. Ma nchester. M15 6JA. Contact is the leadinguK arts organisation to placeyoung people's leadership and decision making at the heart of everything Our main areas of activity are= Provid i ng transformative opportunities foryoung people Producing high quality newwork with a focus on pressingsocial realities and presenting the future mainstream with a diverse and pioneering programme Operating a unique, ethical and welcoming building 42