Charity registration number NIC101104
Company reglstratlon number N1051710 {Northern Ireland)
THE ULSTER YOUTH ORCHESTRA
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023

THE ULSTER YOUTH ORCHESTRA
LEGALAND ADMINISTRATIVE INFORMATION
Dlrectors
MrA Boyd
Mr D J Canmore
Mr P Mccrisken
Mrs C J Wells
Lady D E Trimble
Mr D W Smyth
Mr M McKavanagh
Mr R Pollen
Ms Ruth Millar
Ms N Curran
Mr S M Robinson
Socretsry
Mr S M RobSnson
Charfty number
NIC101104
Company number
N1051710
Reglstered offlc•
Cathedr81 Quarter Managed IOIOTk8pace
1091113 Royal Avenue
Belfast
Co. Antrim
BT11FF
Audltor
Harbinson Mulholland
Centrepoint
24 Omieau Avenue
Belfast
Co. Antrim
Northern Ireland
BT2 8HS
Bankers
Ulster Bank
91193 University Road
Belfast
BT71NB
Sollcltors
Elliott Duffy Garrett
CIO Elliott Duffy Garrett
40 Linenhall Street
Belfast
BT2 8BA

THE ULSTER YOUTH ORCHESTRA
CONTENTS
Page
Directors, report
Statement of Directors, responslbllltles
Independ•nt audltovs report
statement of financial activities
10
Statement of financial position
11
Notes to the flnanclal statements
12-21

THE ULSTER YOUTH ORCHESTRA
DIRECTORS. REPORT
FOR THE YEAR ENDED 30 SEPTEMBER 2023
The directors present their annual report and financial statements for the year ended 30 September 2023.
The accounts have been prepared in accordance with the accounting policies set out in note 1 to the accounts and
comply with the company's Memorandum and Articles of Association, the Companies Act 2006 and "Accounting
and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts
in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)" {as
amended for accounting periods commencing from 1 January 2016)
Structure, Governance and Management
The Ulster Youth Orchestra Limited was incorporated on 20 September 2004. There are eleven directors of the
company and new directors can be appointed at a properfy convened company meeting up to the maximum
permitted in ihe company's Memorandum and Articles of Associats'on.
Objectlveg and actlvltles
The company exists to give young people from across Northem Ireland the very best quality music tuition as well
as the opportunity to perform wlth the world's leading musicians and conductors. It does this through the provision
of an annual residential course consisting of workshops and tutorials ending with concert performances with
additional activities during the year.
The directors have pald due regard to guldance issued by the Charity Commission in deciding what activities the
company should undertake.
Achlevements and performance
During the period, the Ulster Youth Orchestra celebrated its 30th Anniversary. The celebrations came to
crescendo at the National Concert Hall in Dublin and the Ulster Hall in Belfast in August 2023 with perfomances
from acclaimed pisnlsts Barry Douglas and Michael McHale, a new commisslon by Greg Caffrey and a highly
commended BBC Radio Ulster broadcast.
The year began with the applicats'on process for the 2023 orchestra and there was a 44% applicant increase on
the previous year, bringing the numbers back to pre-covid levels. Auditions were held both online and in person
at Queen's University Belfast Music Department in December 2022. A total of 18 local professional musicians
made up the 9 panels who auditioned 140 young people.
The annual Play-in Day event was held on 19th February in the Harty Room at Queen's University, Belfast. Play-
in Day was developed to give all applicants a positive expen'ence post audition. 54 musicians enjoyed a day of
rehearsals and a short pertormance of music by Strauss and Schubert, conducted by emerging Irish conductor,
Karen Ni Bhroin.
2023 saw the Ulster Youth Orchestra collaborate for the first time with Northem Ireland Opera who Invited pl8yers
to audition for its new commission Nobodylsomebody - a teenlyoung adult opera premiere composed by Neil
Martin and written by playwright Fionnuala Kennedy. Matthew Quinn conducted the opera in 5 performances at
the Elmwood Hall in Belfast from 3rd to 5th March.
UYO'S partnership with the Hard Rain Soloist Ensemblg continued in April with a workshop and concert at the
Sonic Arts Research Centre at Queen's University, Belfast. The partnership with the Ulster Orchestra also
continues. with the Professional Experience Scheme.
During the year, the UYO String Quartet and Brass Quintet played at a variety of events, including the graduation
ceremonies at Greenmount Agricultural College in Antrim, the Belfast Lieutenancy Dinner to mark the passing of
HRH Queen Elizabeth at Grand Central Hotel, Belfast and as part of the Christma5 celebrations at Rushmere
Shopping Centre in Craigavon. A particularly notable engagement this year was the perfonnance of the String
Quartet at Hillsborough Castle at the Gala Dinner to mark the 25th anniversary of the Good Friday Agreement.
The main activity during the year was the 30th Anniversary Summer Residential Course and Concerts. The ten-
day course began on 3rd August with rehearsal conductor Daniel Hogan and a team of 11 highly respected and
experienced professional tutors leading the orchestra through a mixture of sectional and tutti rehearsals

THE ULSTER YOUTH ORCHESTRA
DIRECTORS. REPORT
FOR THE YEAR ENDED 30 SEPTEMBER 2023
After the first five days of intense leaming, the tLrtors and Daniel departed and Venezuelan-bom American
conductor Ilyich Rivas, the performance conductor, arrived. Rivas enjoys a remarkable career with concerts all
over the world and was a perfect choice for this repertoire.
The programme opened with a new work by Northern Irish composer Greg Cafftey. Specially commissioned by
UYO for its 30th anniversary and funded by the Arts Council of Northern Ireland, 'Fanfare and Overture." In
Celeb￿lI0n and antlClP8tion of peace, local and universal, is dedicated to the young UYO players and celebrates
the hope, optimism and potential for a new generation for whom ￿latiVe peace can be assumed and enjoyed
following the signing of the Good Friday Agreement.
Jolning the Ulster Youth Orchestra In thls special year were of its highly acclaimed patrons, planists Bary
Douglas and Michael McHale. Barry Douglas performed Tchaikovsky's majestic Piano Concerto No.1 In the first
half and in the second half, Michael McHale played Gershwin's Piano Concerto in F.
Barry Douglas has established a major international career since winning the Gold Medal at the 1986 Tchaikovsky
International Piano Competition, Moscow. Michael McHale has also established himself as one of Ireland's leading
pianists and has developed a busy intemational career as a solo recitalist, concerto soloist and chamber musician.
Michael credits Barry as one of his great influences and mentors, and for the two to share a stage in one concert
was a rare and V￿nderfUl opportunlty for audiences and the orchestra alike.
The grand finale to our programme wa8 the thrilling and ever-popular West Side Story: Symphonic Dances by
Bernstein, which brought the evenings to a dazzling close.
The first concert was on 1 Oth August at the National Concert Hall in Dublin, where the orchestra enjoyed a standing
ovation. The finale was a sold-out concert on 12th August at the Ulster Hall in Belfast. BBC Radio Ulster recorded
the concert for broadcast on its flagship classical music show, Classical Connections, and the producer
commented, °il was oulstanding- everyone's perfonnance was at such 8 high st8nd8rd, 8nd given the pieces
perfom?ed were technic8lly difficult, I was hugely impressed by the musici8nship on disp18y.°
This year's course and concerts were a wonderful end to our 30th year and the success can be attributed to many
different factors; Ihe choice of repertoire, the choice of conductor and instrumental tutors, the welfare team and
staff, and most importantly, the enthusiasm and hard work that the young people demonstrated.

THE ULSTER YOUTH ORCHESTRA
DIRECTORS, REPORT
FOR THE YEAR ENDED 30 SEPTEMBER 2023
Flnanclal review
The company relies on funding and sponsorship as well as personal donations to enable us to undertake all our
activities. We also wish to acknowledge the ongoing support of members oflhe Orchestra and their families along
with the invaluable work done by our volunteers. Without the support both financial and in person the activities of
the Orchestra would be greatly curtailed. We are particularly grateful to the Arts Council of Northern Ireland who
have consistently provided funding, including during the Covid-19 period, which has providad a solid foundation
on which the 2022 programm8 could be developed with confidence. This in turn has supported the Orchestra's
success in receiving funding awards from olher Trusts and Foundations.
Major grants and sponsorship received this year were as follows..
Arts Council of Northern Ireland
Garfield Weston Foundation
The Foyle Foundation
Belfast City Council
Nl Opera
Radcliffe Trust
Enkalon Foundation
57,032
20,000
20,000
8,000
6,000
3,000
2,000
The Income from the Arts Councll of Northem Ireland, the Garfield Weston Foundatlon, the Foyle Foundation.
Belfast City Council and Nl Opera is regarded as restricted and is separately shown on the Statement of Financial
Activities. All other income and expenditure is regarded as unrestricted, with any surplus or deficit In the year
brought to resep4e8.
The level of income during the year was significantly higher than in prior years, due principally to the r8ceipl of the
Garfield Weston and Foyle Foundation awards, together with a higher contribution from member fees. This was
offset by higher programming costs, as the orchestra continued to move away from online activity and towards full
resumption of in-person activities.
The net outgoing resources for the year amounted to £1,252 (2022.. £28,958 incoming) leavlng a surplus in
reserves at the year-end of £97,898 {2022.' £99,150), £76.926 ofwhich is unrestricted (2022: £71,025).
Reserves Pollcy
The directors, policy is to ensure that sufficient unrestricted reserves are available to cover core admlnistratlon,
fund-raising and support costs, without which the charity could not function, and to provide for known future
developments, liabilities and uncertaintles. The level of reseNes is reviewed on an ongoing basis.
Rlsk Assessment
The directors have assessed the major risks to which the Orchestra is exposed, and are satisfled that systems
are in place to mitigate exposure to malor risks.
Dlrectors
The directors who served during the year are listed below
MrA Boyd
Mr D J Canmore
Mr P Mccrisken
Mrs C J Wells
Lady D E Trimble
Mr D W Smyth
Mr M McKavanagh
Mr R Pollen
Ms Ruth Millar
Ms N Curran
Mr S M Robinson

THE ULSTER YOUTH ORCHESTRA
DIRECTORS, REPORT
FOR THE YEAR ENDED 30 SEPTEMBER 2023
Audltor
Harbinson Mulholland have indicated their willingness to contlnue in office and a resolution concerning their re-
appointment will be proposed at the Annual General Meeting.
Dlsclosure of informatlon to audltor
To the know18dge and belief of the dlrectors, there is no relevant information that the company's auditors are not
aware of. and the directors have taken all steps necessary to ensure the directors are aware of any relevant
Informats'on, and to establish that the company's auditors are aware of the information.
The Dlr8¢tors' report was approved by the Board of Directors.
Mr S M Roblnson
Secretary
Dated: 29 April 2024

THE ULSTER YOUTH ORCHESTRA
STATEMENT OF DIRECTORS, RESPONSIBILITIES
FOR THE YEAR ENDED 30 SEPTEMBER 2023
The directors, who also act as trustees for the charitable activities of The Ulster Youth Orchestra, are responsible for
preparing the Directors, Report and the accounts in accordance with applicable law and United Kingdom Accounting
Standards (United Kingdom Generally Accepted Accounting Practice).
Company Law requires the directors to prepare accounts for each financlal year which give a true and fair view of
the state of affairs of the company and of the incoming resources and application of resources, including the income
and expenditure, of the charitable company for that year.
In preparing these accounts, the directors are requlred to:
select suitable accounting policies and then apply them consistently.,
obseple the methods and princlples in the Charltles SORP,,
make Judgements and estimates that are reasonable and prudent.,
- state Ythether applicable UKAccounting Standards have been foll0v￿d, sublect to any material departures disclosed
and explained in the accounts,. and
prepare the accounts on the going concern basis unless it is inappropriate to presume that the company will contlnue
in operation.
The directors are responsible for keeping adequate accounting records that dlsclose with reasonable accuracy at
any time the financial position of the company and enable them to ensure that the accounts comply with the
Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking
reasonable steps for the prevention and detection of fraud and other irregularities.
Mr S M Roblnson
Secretary
Dated.. 29 Aprll 2024

THE ULSTER YOUTH ORCHESTRA
INDEPENDENT AUDITOR'S REPORT
TO THE DIRECTORS OF THE ULSTER YOUTH ORCHESTRA
Opinion
We have audited the financial statements of The Ulster Youth Orchestra (the 'company') for the year ended 30
September 2023 which comprise the ststement of financial activities, the ststement of financial position and notes to
the financial statements, including significant accounting policies. The financial reporting framework that has been
applied in their preparation is applicable18w and United Kingdom Accounting Standards, including Financial Reporting
Standard 102 The Fin8nci81 Reporting Stand8rd applicable in the UK and Republ￿ of Ireland (United Kingdom
Generally Accepted Accounting Practice).
In our opinion, the financial statements:
give a true and fair view of the state of the charitable company's affairs as at 30 September 2023 and of its
Incoming resources and application of resources, for the year then ended.,
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice. and
have been prepared In accordance wlth the requirements of the Companles Act 2006.
Ba31s for oplnlon
We conducted our audit In accordance vrfith Internatlonal Standards on Auditing (UK) (ISAS (UK)) and applicable law.
Our responsibilities under those stsndards are further described in the Auditors responsibilities for the audit of tho
financial slatements section of our report. We are independent of the company in accordance with the ethical
requirements that are relevant to our audit of the financial statements in the UK, including the FRC'S Ethical Standard,
and we have fulfilled our other ethical responsibilitles in accordance with these requirements. We believe that the
audit evidence have obtained is sufficient and appropriate to provide a basis for our opinion.
Concluslons relatlng to golng concern
In auditing the financial statements, we have concluded that the Directors, use of the going concern basis 01
accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, VR have not identified any material uncertaintles relating to events or
conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going
concern for a period of at least ￿e1ve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the directors with respect to going concem are described in the relevant
sectlons of th18 report.
other Infomiatlon
The other information comprises the information included in the annual report othér than the financlal statements and
our auditor's report thereon. The directors are responsible for the other information contained within the annual report.
Our opinion on the financial statements does not cover the other information and we do not express any form of
assurance conclusion thereon. 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 course
of the audit, or otherwise appears to be materially misstated. If we identtfy such material inconsistencies or apparent
material misstatements, we are reqUI￿d to determine whether this gives rise to a material misstatement in the financial
statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement
of this other infonnation, are required to report that fact.
Vts have nothing to report in this regard.
Matters on whlch we are required to report by exception
We have nothing to report in respect of the following matters in relation to which the Charities (Accounts and Reports)
Regulations 2008 require us to report to you if, in our opinion:
the infomation given in the financial statements is inconsistent in any material respect with the Directors, report.,
or
sufficient accounting records have not been kept., or
the financial statements are not in agreement with the accounting records. or
we have not received all the infomiation and explanations we require for our audit.

THE ULSTER YOUTH ORCHESTRA
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE DIRECTORS OF THE ULSTER YOUTH ORCHESTRA
Responsibilities of dlrectors
As explained more fully in the statement of Directors, responsibilities, the directors are responsible for the preparation
of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as
the directors determine is necessary to enable the preparation of financial statements that are free from material
misstatement, whether due to fraud or error. In preparing the financial statements, the directors are responsible for
assessing the company's ability to continue as a going concem, disclosing, as applicable, matters related to going
concern and using the going concern basis of accounting unless the directors either intend to liquidate the charitsble
company or to cease operations, or have no realistic alternative but to do so.
Audltor's responslbllitles for the audlt of the financlal 8tatements
le have been appointed as auditors under section 65 of the Charities Act (Northern Ireland) 2008 and report in
accordance with the Act and relevant regulations made or having effect thereunder.
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from
material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion.
Reason8ble assurance is 8 high level of assurance but is not a guarantee that an audit conducted in accordance wlth
ISAS (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and
are considered material if, individually or in the aggregate, they could reasonably be expected to influence the
economic decisions of users taken on the basis of these financial statements,
The extent to which our procedures are capable of detecting irregularities, including fraud, Is detailed below.

THE ULSTER YOUTH ORCHESTRA
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE DIRECTORS OF THE ULSTER YOUTH ORCHESTRA
Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including
fraud and non-compliance with laws and regulations, was as follows:
the 8ngagement partner ensured that the engagement team collectively had the appropriate competen￿,
capabilities and skills to identify or recognise non-compliance with applicable laws and regulations-,
we identified the laws and regulations applicable to the company through discussions with directors andlor
senior management, and from our commercial knowledge and experience of the sector.
We focused on specific laws and regulations which we considered may have a direct material effect on the financial
statements or the operations of the company, including Companies Act 2008, taxation legislation, data protection,
anti-bribery, employment, environmental and health and safety legislation
we assessed the extent of compliance with the laws and regulations identified above through making
enquiries of management and inspecting legal Corresponden￿,. and
identified laws and regulations were communicated within the audit taam regularly and the team remained
alert to instances of non-compliance throughout the audit.
We assessed the susceptibility of the company's financial statements to material misstat8ment, including obtaining
an understanding of how fraud might occur, by..
maklng enquiries of management as to where they considered there was susceptibility to fraud, their
knowledge of actual, suspected and alleged fraud; and
considering the internal controls In place to mitigate risks of fraud and non-compllance with laws and
regulations.,
To address the risk of fraud through management bias and override of controls, we:
performed analytical procedures to identify any unusual or unexpected relationships.,
tested journal entries to identify unusual transactions;
assessed whether judgements and assumptions made in determining the accounting estimates set out In
Note 2 were indicatlV8 of potential bias; and
Investigated the rationale behind significant or unusual transactlons.,
In response to the risk of Irregularitles and non-compliance with laws and rsgulatlons, we designed procedures
which included, but were not limited to..
agreeing financial statement disclosures to underlying supporting documentation,.
reading the minutes of meetings of those charged with governance.,
enquiring of management as to actual and potential litigation and claims., and
reviewing correspondence with HMRC and the company's legal advisors.,
There are inherent limitations in our audit procedures described above. The more removed that laws and
regulations are from financial transactions. the less likely it is that we would become aware of non-compliance.
Auditing standards also limit the audit procedures required to idents'fy non-compliance with laws and regulations to
enquiry of the directors and other management and th8 inspection of regulatory and legal correspondence, rf any.
Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may
involve deliberate concealment or collusion.
A further description of our responsibilities is available on the Financial Reporting Council's website at- https.'Il
www.frc.org.uklauditorsresponsibilities. This description forms part of our auditor's report.

THE ULSTER YOUTH ORCHESTRA
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE DIRECTORS OF THE ULSTER YOUTH ORCHESTRA
This report is made solely to the charity's trustees, as a body, in accordance with part 4 of the Charities (Accounts
and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charity's trustees
those matters we are required to state to them in an auditors. report and for no other purpose. To the fullest extent
permitted by law, we do not accept or assume responsibility to anyone other than the charity and the charity's
trustees as a body, for our audit work, for this report, or for the opinions we have formed.
Angela Cralgan (Senlor Statutory
uditor)
for and on behalf of Harblnson Mulholland
Chartered Accountants
Statutory Audltor
Centrepoint
24 Ormeau Avenue
Belfast
Co. Antrim
Northern Ireland
BT2 8HS
Harbinson Mulholl8nd is eligible for appointment as auditor of the company by virtu8 of Its eligibility for appointment
as auditor of a company under section 1212 of the Companies Act 2006.

THE ULSTER YOUTH ORCHESTRA
STATEMENT OF FINANCIAL ACTIVITIES
INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 30 SEPTEMBER 2023
Unrestrlcted Restrlcted
funds
funds
2023
2023
Total Unrestricted Restrlcted
funds
funds
2022
2022
Total
2023
2022
Not88
Income and endowments from:
Donations and legacies
Charitable activities
Investments
Other Income
23,597
57,510
1,205
2,974
111,032
134,629
57,510
1,205
2,974
18,442
44,481
87
3,150
58,491
76,933
44,461
87
3,150
Total Income
85,286
111,032
196,318
66,140
58,491
124,631
Charitable actlvltles
79,385
118,185
197,570
70,744
82,845
153,589
Net Incomel(expendlturel and
movement In funds
5,901
(7,153)
(1,252)
(4,8041
(24,354)
(28,958)
Reconclllatlon of funds:
Fund balances at 1 October
2022
71,025
28,125
99,150
75,629
52,479
128,108
Fund balances at 30
September 2023
76,926
20,972
97,898
71,025
28,125
99,150
The statement of financlal activities includes all gains and losses recognised In the year. All income and expenditure
derive from contlnuing activities.
10-

THE ULSTER YOUTH ORCHESTRA
STATEMENT OF FINANCIAL POSITION
AS AT 30 SEPTEMBER 2023
2023
2022
Notes
Flxed assets
Tangible assets
Current assets
Debtors
Cash at bank and in hand
11
20,659
27,885
13
4,010
80,141
125,880
84,151
125,880
Credltors: amounts falllng due wlthln
one year
14
(6,912)
(54,395)
Net current assets
77,239
71,485
Total assets le88 current Ilabllltl88
97,898
99,150
Income funds
Restricted funds
Unrestricted fund8
Designated funds
General unrestricted funds
17
20,972
28,125
85,000
11,926
65,000
6,025
76,926
71,025
97,898
99,150
The company is entitled to the exemptlon from the audit requirement contained in section 477 of the Companies Act
2006, for the year ended 30 September2023, although an audit has been carried out under section 85 ofthe Charities
Act (Nl) 2008 .
The directors acknowledge their responsibilities for complylng wlth the requlrements of the Companies Act 2006 vAth
respect to accountlng records and the preparation of financial statements.
The members have not required the company to obtain an audit of its financial statements under the requlrements of
the Companies Act 2006, for the year in question in accordance with section 476.
These financial statemgnt5 have been prepared in accordance with the provisions applicable to companies subject
to the small companies regime.
The financial statements were approved by the Directors on 29 April 2024
Mr M McKavanagh
Dlrector
Company Reglstratlon No. N1051710
11

THE ULSTER YOUTH ORCHESTRA
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023
Accounting policies
1.1 Accountlng conventlon
The accounts have been prepared in accordance with the the Companies Act 2006 and "Accounting and
Reporting by Charities.. Statement of Recommended Practice applicable to charities preparing their accounts
in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).
(as amended for accounting periods commencing from 1 January 2018). The Ulster Youth company is a Public
Benefit Entity as defined by FRS 102.
The company hastaken advantage of the provlslons in the SORPforcharities applying FRS 102 Update Bulletin
1 not to prepare a Statement of Cash Flows.
The accounts are prepared In sterling, which is the functional Currency of the company. Monetary amounts in
these fin8n¢ial stalements are rounded to the nearest £.
The financlal statements have been prepared under the historical cost convention. The principal accounting
policies adopted are set out below.
1.2 Golng concern
The charity reported net expendlture of £1,252 for the year, of which £3,864 net income related to unrestricted
funds. At th8 year end the charity held unrestricted funds of £74,889. The directors have prepared projections
and, having considered the circumstances outlined above, are of the view that they have secured sufficient
funding to ensure that the company can continue to trade forthe next 12 months. For this reason they continue
to adopt the going concern basis in preparing the financial statements.
1.3 Charftable funds
Unrestricted funds are available for use at the discretion of the directors in furtherance of their charitable
objectives.
Restricted funds are subject to specific conditions by donors or grantors a8 to how they may be used. The
purposes and uses of the restricted funds are set out In the notes to the financial statements,
Endowment funds are subject to specific conditions by donors that the capltal must be maintained by the
company.
1.4 Income
Income is recognised when the company Is legally entltled to it after any performance condltlons have been
met, the amounts can be measured reliably, and it is probable that income will be received.
Grants and donations are credited to incoming resources on the earlier date of when they are received or when
they are receivable, unless they relate to a specifjed future period, in which case they are deferred.
Gr8nts and donations which have been restricted for use by the donor or which relate to capital expenditure
are treated as restricted income and are credited to the Statement of Financial Activities when they are
r8ceivable and when any performance conditions attached to the grant or donation have been met.
Legacies are recognised on receipt or otherwise if the Ulster Youth Orchestra has been notified of an impending
distribution, the amount is known, and r8ceipt is expected. If the amount is not known, the legacy is treated as
a contingent asset.
Income from charitable activities includes all incoming resources generated from audition fees, course fees,
performances of the orchestra and other sundry items arising from the charitable activities of the organisation.
All income is recognised in full in the Statement of Financial Activities when receivable.
12-

THE ULSTER YOUTH ORCHESTRA
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED
FOR THE YEAR ENDED 30 SEPTEMBER 2023
Accountlng pollcles
(Contlnued)
Income from other trading activates includes all incoming resources from the sale of Ulster Youth Orchestra
branded hoodies and t-shirts. All income is recognised in full in the Statemenl of Financial Activities when
receivable.
Investment Income is recognised when received and is allocated to the appropriate fund.
1.5 Resources expended
Expenditure is recognised once there 18 a legal or constructive obligation to transfer economic benefit to a third
paty, it is probable that a transfer of econom1¢ benefit$ wlll bo requlred in settlgment, and the amount of the
obligation can be measured reliably.
Expenditure is classified by activity. The costs of each 8Ctivlty are made up ofthe totsl of direct costs and shared
costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity
are allocated directly to that activity. Shared costs which contn'bute to more than one activity and support costs
which are not attributable to a single activity are apportioned between those activities on a basis consistent with
the use of resources. Central staff costs are allocated on the basis of tlme spent, and depreciation charges are
allocated on the portion of the asset's use.
This comprises all resource8 applied by the charty when working to meet it8 charitable objectives. This includes
support costs allocated to activities on the basis of time spent on those activities. Support costs are those costs
incurred directly in support of expenditure on the objects of the charity and include the costs of maintaining the
office.
Governance costs are those incurred in connection with the administration of the charity and compliance with
constituts'onal and statutory requirements.
All expenditure Is accounted for on an accruals basis and has been classified under headings that aggregate
all costs related to the category.
1.6 Tanglble flxed assets
Tangible fixed assets are initially meesured at cost and subsequently measured at cost or valuation, net of
depreciation and any impairment losses.
Depreciation is recognised so as to wrlte off the cost or valuatlon of assets less their residual values over their
useful lives on the following bases:
Fixtures and fittings
20Oh straight line
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds
and the carrying value of the asset, and is recognised in the statement of financial activities.
1.7 Impalmient of flxed assets
At each reporting end date, the company reviews the carrying amounts of its tanglble assets to determine
whetherthere is any indication that those assets have suffered an impairment loss. Ifany such indication exists,
th8 recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (If any).
1.8 Cash and cash equivalents
Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid
investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts a￿ shown
within borrowings in current liabilities.
13-

THE ULSTER YOUTH ORCHESTRA
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2023
Accountlng pollcles
(Contlnued)
1.9 Flnanclal Instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments, and Section 12
'Other Financial Instruments Issues, of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's balance sheet when the company becomes party to the
contractual provisions of the instrument.
Financial asset5 and liabilities are offset, with the net amounts presented in the financial statements, when there
is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis
or to realise the asset and settle the liability simultaneously.
Baslc flnancial assets
Basic financial assets, which include debtors and Cash and bank balances, are Inltlally measured at transaction
price including transaction costs and are subsequently carried at amortised cost using the effective interest
method unless the arrangement constitutes a financing transaction, where the transaction is measured at the
present value of the future receipls discounted at a market rate of interest. Flnanclal assets classified as
receivable within one year are not amortised.
Basic flnanclal Ilabilities
Basic financial Ilabilities, including creditors and bank loans are initially recognised at transaclion price unless
the arrangement constitutes a financing transaction, where the debt instrument is measured at the present
value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable
within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or sepiices that have been acquired in the ordinary course ot
operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year
or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction
price and subsequently measured at amortised cost using the effective Interest method.
Derecognltlon of flnanclal Ilabilities
Financial liabilities are derecognised when the company's contractual obligations expire or are dlscharged or
cancelled.
1.10 Employee beneflts
The cost of any unused hollday entitlement is recognised in the period in which the employee's servlces are
received.
Temiination benefits are recognlsed Immedlately as an expense when the company is demonslrably committed
to temiinate the employment of an employee or to provide termination benefits.
1.11 Retlrement beneflts
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
14-

THE ULSTER YOUTH ORCHESTRA
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2023
Crltlcal accounting estimates and judgements
In the application of the company's accounting policies, the directors are required to make judgements,
estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from
other sources. The estimates and associated assumptions are based on historical experience and other factors
that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting
estimates are recognised in the period in which the estimate is revised where the revision affects only that
period, or in the period of the revision and future periods where the revision affects both current and future
periods.
Incom• from donatlon8 and legacle8
Unre8trlcted Restrlcted
funds
funds
2023
2023
Totsl Unrestrleted Rostrlcted
funds
funds
2022
2022
Total
2023
2022
Donatlons and glfts
Grants receivable
14,837
8,760
14,837
119,792
5,342
13,100
5,342
71,591
111,032
58,491
23,597
111,032
134,629
18,442
58,491
78,933
Charltable actlvltl08
2023
2022
Box office income
Members, fees
9,308
48,202
5,137
39,324
57,510
44,461
All income from charitable activities is unrestricted in 2023 & 2022.
Investments
2023
2022
Interest reclevable
1,205
87
All investment income is unrestricted in 2023 & 2022.
15-

THE ULSTER YOUTH ORCHESTRA
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2023
other Income
2023
2022
Other income
2,974
3,150
All Other income is unrestricted In 2023 & 2022.
Expondlture on charltable actlvltle8
2023
2022
Depreciation and impairment
Direct costs and overheads
12,146
144,104
11,118
106,582
156,250
117,700
Share of 8UPPOrt costs (see note 8)
Share of governance costs (see note 8)
39,220
2,100
33.969
1,920
197,570
153.589
Analy818 by fund
Unrestrlcted funds
Restricted funds
79,385
118,185
70,744
82,845
197,570
153,589
Support costs
Support Governance
costs
osts
2023
2022
Staff costs
Office overheads
34,171
5,049
34,171
5,049
31,392
2,577
Audit fees
2,100
2,100
1,920
39,220
2,100
41,320
35,889
An81y8ed between
Charitable activities
39,220
2,100
41,320
35,889
Govemance costs includes payments to the auditors of £2,100 (2022- £1.920) for audit fees.
16-

THE ULSTER YOUTH ORCHESTRA
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2023
Dlrectors
None of the director8 (or any persons connected wlth them) received any remuneration or benefits from the
company during the year.
10 Employees
The average monthly number of employees during the year was..
2023
Number
2022
Number
Employment costs
2023
2022
Wages and salaries
Other pension costs
32,540
1,631
29,376
2,016
34,171
31,392
The total amount of employee benefits received by key management personnel in the period was £34,171
(2022- £31,392). The charity considers its key management personnel to be the Orchestra Manager and the
Administrative Assistant.
There were no employees whose annual remuneratlon was more than £60,000.
Remun•ratlon of key managemont personnel
The remuneration of key management personnel is as follows,
17-

THE ULSTER YOUTH ORCHESTRA
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2023
11 Tanglble fixed assets
FlxtureG and flttlngs
Cost
At 1 October 2022
Additions
55,588
5,139
At 30 September 2023
60,727
Depreclatlon and Impalrnient
At 1 October 2022
Depreciation charged In the year
27,922
12,146
At 30 September 2023
40,068
Carrylng amount
At 30 September 2023
20,659
At 30 September 2022
27,665
12 Flnanclal Instruments
2023
2022
Carrylng amount of financlal Ilabllltles
Measured at amortised cost
6,912
53,812
13 Debtors
2023
2022
Amounts falllng due wlthln one year:
other debtors
4,010
14 Credltor8: amounts falllng dua wlthln one year
2023
2022
Notes
Government grants
Accruals and deferred income
583
53,812
8,912
6,912
54,395
18-

THE ULSTER YOUTH ORCHESTRA
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2023
16 Government grants
Other deferred income
D8ferred income is included in the financial statements as follovts..
2023
2022
Deferred income Is Included within.,
Current liabilits'es
583
Movements In the year..
Deferred income at 1 October 2022
Released from prevlous perlods
583
(583)
1,167
(584)
Deferred income at 30 September 2023
583
16 Retlrement benaflt schemes
Defined contrlbutlon Schemes
The company operates a defined contribution scheme. The pension cost and charge represents contributions
payable by the company to the fund amounted to £1,631 12022- £2,016 ). At 30 September 2023 £Nil
contributions were payable to the fund (2022- £Nil).
The charge to profit or loss in respect of defined contribution schemes was £1,631 (2022 - £2,018).
19-

THE ULSTER YOUTH ORCHESTRA
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2023
17 Restrlcted funds
The restricted funds of the charity comprise the unexpended balances of donations and grants held on trust
subject to specific conditions by donors as to how they may be used.
Movement In funds
In¢orning
Resources
Balance at
rnsource8
expended 30 September
2023
Balance at
1 October 2022
ACNI
ACNI Capital
Garfield Weston
Ulster Garden Villages
The Foyle Foundation
Nl Opera
Belfast City Councll
51,733
5,299
20,000
(51,733)
(11,652)
{20,000)
1800)
(20,000)
16,000)
18,000)
25,725
19,372
2.400
1,600
20,000
6.000
8,000
28,125
111,032
(118,185)
20,972
The ACNI, Garfield Vveston, Foyle Foundatlon, Nl Opera and Belfast City Council funds represent grants
received towards core and programming costs of the Orchestra.
The ACNI Capital fund represents grants received from the Arts Council of Northern Ireland tOW8rds the
purcha8e of musical instruments for the Orchestra.
The Ulster Garden Villages award represents a grant received towards the purchase of musical instruments
for the Orchestra.
18 Deslgnated funds
The unrestrlcted funds of the charity comprise the unexpended balances of donatlons and grants which are not
subject to specific conditions by donors and grantors as to how they may be used. These include designat•d
funds which have been set aside out of unrestricted funds by the trustees for specific purposes.
Movement
In funds
Incomlng
Balance at
resources 30 SeptombBr
2023
Balan¢9 at
1 October 2022
Cash flow reserve
65,000
65,000
65,000
65,000
-20-

THE ULSTER YOUTH ORCHESTRA
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2023
19 Analysls of net assets between funds
Unrestrlcted Restrlcted
funds
funds
2023
2023
Total Unrestricted Restricted
funds
funds
2022
2022
Total
2023
2022
Fund balances at 30
September 2023 are
represented by.,
Tangible assets
Current assetsl{liabilities)
20,659
313
20,659
77,239
2,935
68,090
24,730
3,395
27,865
71,485
76,926
76,926
20,972
97,898
71,025
28.125
99,150
20 Flnanclal commltments, guarants08 and contlngent Ilabllftles
At the reporting end date the company had total outstanding commitments for future minimum lease payments
under non-cancellable operating leases, which fall due as follows.. Vl4Trthin one year £1,320 (2022- £1,320), within
o to five years £228 {2022- £228).
21 Relatsd party transactlons
There were no disclosable related party transaction8 during the year (2022 - none).
21