Young at Art Ltd Company Limited by Guarantee Trustees, Annual Report (Incorporating the Dlrector's Report) Year ended 31 March 2023 The trustees, who are also the directors for the purposes of company law, present their report and the financial statements of the charity for the year ended 31 March 2023. Referonce and administrative details Registered charlty name Young at Art Ltd Charlty reglstration number NIC102564 Company registratlon number N1037755 Princlpal office and registered 2nd Floor Cotton Court office Waring Stre8t Belfast BT12ED The trustees MLee D Harvey l McFarland T Maguir8 R Croxford C Cong A Busby A Greaney S Johnston CLaw (Résigned 8 November 2022) (Resigned 31 May 2022) (Resigned 29 September 20231 (Appointed 25 Aprll 20221 (Appointed 26 June 2023) (Appoin18d 30 Septernber 2023) Auditor Fin8gan Gib50n Ltd Chartered accountants & statutory auditor Causeway Tower 9 James Street South Belfast BT2 8DN Bankers Danske Bank PO Box 183 Donegall Square West Belfast BT16JS
Young at Art Ltd Company Llmlted by Guarantee Trustees, Annual Report (Incorporating the Director's Report) (eonlinued) Year ended 31 March 2023 Structurei governance and management Governlng Document Young at Art Ltd is a company limited by guarantèe governed by its Memorandum and Articles of Association dated 19th January 2000. updated 7th October 2008. Young al Art Ltd 15 a registered charity with the Charity Commission for Northern Ireland. Young at Art Ltd is a membership organisation wlth currently 7 active members, no share capital is employed. Appolntment of trustees The Chairman and th8 Trustees recrult and select new Trustees as needed. New Trustees are recruited on the relevance of their professional skills, and their potential to be able to make a helpful conlribulion to the governance of the charity. As part of the recruilmant process they are made aware of a Trustees, legal obligations under charity and company law. the content of the Memorandum and Articles of Association, the committee and de¢ision-making processes, the business plan and recent financial performance of the charity. Once the polential new Trustee has agreed lo be considered for appointment lo the role, the Trustees meet to review and to vote on the candidates, suitabllity for appointment. If there Is unanimous agreement, their names are thèn proposed for appolnlment. to the voting Members of the Company at the next General Meets'ng. Arrang8menls for setting pay and rèmuneralion of key managèment porsonnel The pay of the senior staff is reviewed annually and normally increased in accordance with av8rage earnings. In view of Ihe nature of the charity, the directors benchmark against pay levels in other slmilar size charllles run on a voluntary basis. The rernuneration bench-mark is the mid-point of the range paid for simllar roles adjusted for a weighllng of up to 300/0 for any additional responsibilities. If recruitment has proven difficult in the recent past a market addition is also pald with the pay maximum no greater than the hSghest benchmarked salary for a comparable role. Oryanisatlon structure and how charlty mak08 doci8ion8 The board of trustees administers the charity. The board normally meets quarterly. A Director is appointed by the trustees to manage the day-to-day operations of the charlty. To facilitate effective operations, the Director has delegated authority, within terms of delegation approved by the trustees, for operational matters Including finance. employment and direct charitable activities. Rèlatlon8hips wlth related partles Non8 of our trustees receive remuneration or other benefit from their work with the chaTIty. Rlsk management The trustees have a risk managernent strategy which comprises: an annual revlew of the principal risks and uncertaSn118S that the charity fa9., the establishmenl of policies. systerns and procedures to mitigate those risks identified in the annual review- and
Young at Art Ltd Company Limlted by Guarantee Trustees. Annual Report (Incorporatlng the Dlrector's Report) (contlnuedj Year ended 31 March 2023 the Implementation of procedures designed to minimise or manage any potential Impact on the charity should those risks materlalise. Objectives and a¢livities The purposes of the charity are to promote for the public benefit, and, but not exclusively, children and young people up to 18 years.. The advancement of education The advancement of the arts and culture The relief of those in need by reason of youth, disability, financial hardship or another disadvantage The promotion of such other charitable purposes as may from tlme to tlme be detemiined. In shaping our objectlV8s for the year and planning our activlti6s, the trustees have considèred the Charity Commission's guidance on public benefit. The strategies employed lo achieve the charity's aims and objectives are to: An annual internatlonal arts festlval for children and young people up to 14 years with a broad mulli-artform programme An education and engagement programrne with schools and communlties, supportlng festival engagernent and artform understanding. enhancing accesslbility for children experiencing deprivation, and developing the learning ben8fit5 that deriv8 from arts engagement Support and development of the arts community in its work for children through mentoring individual artists, commissioning training, running tslks, seminars and forming strategic partnerships for the delivery of work.
Young at Art Ltd Company Limited by Guarantee Trustees. Annual Report (Incorporating the Director's Report) (continued) Year ended 31 March 2023 Achlevements and performance 2022123 was a landmark year for Young at Art. as we engaged with a total of 32,488 children, young people and adults, and celebrated our 25th Belfast Children's Festival, attracting over 25,000 visitors lo Belfast over the festival's 10 days, with a further 259,500 tuning inlo live radio broadcasts from the festival. We also delivered a varied range of education and engagement programmes, working with over 50 nursery, primary, secondary and special schools, engaging with a total of 1,992 children and young people. Key Impacts In the year.. Young 8t Art engaged with 32,488 children. young people and adults., 2023 B81fast Children's Festival (3-12 March 20231 presented 179 live events and perfomiances, attended by a total of 25,048 children. young people and adults: Belfast Children's Festival also attended by 79 internallonal delegates., Special festival 'Focus on Flanders,, supported by the General Representatlve of Flanders at the Belglum Embassy in London., 50Yo of festival events and 1 OOYO of educatlon and engagem8nt activit18s were free to attend for audience51participanls., 33°/o of festival bookers came from designated 'hlgh deprlvation, communlties, asslsted through strategic engagement projects., 51 % of festlval audl8n¢es came from outside Belfast, with 30/0 of those from outside Nl., 1,992 Children and young people from 52 schools benefitted from a range of Access, Education and Engagement projects in 'hlgh deprivation, communities., Young at Art employed 7 staff members: pemianent and contracted, and provided 8mployment for 407 freelance artists, facilitators and practitioner5, and 26 volunteers,. Professlonal development with 3 student placemenlslmentorships., CPD training for artists. facilitators and teachers delivered; 9 industry events, delivered in partnership wlth EUNIC (European Union National Institutes for Culture) London attended by 669 professionals and educationalists as part of the Belfasl Children's Festival., and the homegrown Showcase, supported by Culture Ireland, British Council and Arts Council Nl. profiling perfomance work from Northern Ireland for young audiences was attended by 79 international delegates.
Young at Art Ltd Company Limited by Guarantee Trustees. Annual Report (Incorporatlng the Dlrector's Report) {conllntsedJ Year ended 31 March 2023 Flnanclal review Young at Art made an operating loss of £39.166 of which £67,851 is a loss in restrlcted funds carrled forward {2022.- £41,113 surplus). At 31 March 2023 the total funds of the charity amounted to £475,242 comprising of unrestricted funds of £322.838 and restric18d funds of£152.404. It is the company's intention to build and maintain an appropriate level of reserves to be able to m8èt ils commitments during short-term difficulties and respond to unexpected opportunities or crises: in order lo protect its long-term sustainability. Reserves pollcy and golng conearn ReseNes are needed to bridge the timing gap between spending and receiving of income and to cover unplanned temporary shortfalls in income should they arise. Holding adequate reserves safeguards the provision of our services in Ihe event of unexpected significant financial pressures. The trustees consider that the ideal level of reserves as those sufficent to cover six months core expenditure of Young at Art plus provlsion for winding up andlor potential business re-structuring, investment in in programming research and development, potential box office deficits and upgrade and relocation of our office. For the year ended 31 March 2023, the board assesses the level of reserves needed to be held at £224,006. However. given that the operating environment is Ilkely to continue to be difficult over Ihe coming years, and to protect itself against a catastrophic loss of funds, the trustees have declded to aim towards building a lev81 of reseryes representing 9 months of running costs. Thls amount is held within designated funds which are unrestrScl8d funds that havè been earmarked by the trustees for a specific purpose. Designated funds can b8 undesignated at any time for future use with agreement from the board. Plans for future perlods The directors considered the external operating ènvlronment as part of their strategic planning process and have identified key priorities and areas of policy Interest and need that would enhance the company's mission. Young at Art fèels confident about the shortlmedlum term and enhancing support for objectives within our exlstlng body of work and engaging with more children through expanding our year-round activity and reach. Trustees, responsibilities statement The truste&s, who are also directors for the purposes of Company law, are responsible for preparing Ihe trustees, report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Klngdom Generally Accepted Accounting Practice}. Company law requires the charity trustees to prepare financial statements for each year which give true and fair view of the state of affairs of the charitable company and the incoming resources and application of resourc6s, including the income and expenditure. for Ihai period.
Young at Art Ltd Company Limited by Guarantee Trustees. Annual Report (Incorporating the Director's Report) (eontlnu•d) Year ended 31 March 2023 In preparlng these financial statements, the trustees are required to.. $918Ct suitable accounting polici8s and then apply them consistently: observe the methods and principles in the applicable Charities SORP., makejudgments and accounting estimates that are reasonable and prudenl., prepare the flnan¢lal statements on the going concern basls unless It Is Inappropriate to presume that the charity will continue in business. The trustees ar8 responsible for keeping adequate accounllng records that are sufficlent to show and explain the charity's transactions and disclose with reasonable accuracy at any lime the financial position of the charity and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the asset5 of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. Audltor Each of the persons who is a trustee at Ihe dat8 of approval of this report confirms that.. so far as they are aware. th8r8 is no relevant audit information of which the charItS audilor is unaware., and they have taken all steps that they ought to have taken as a trustee to make themselves aware of any relevant audit information and to establish that the charity's auditor is aware of that information. Small company provlslons Thls report has been prepgred in accordance with the provisions applicabl8 to companies entitled to the small companies exemption. The trustees, annual report was approved on 6 November 2023 and signed on behalf of the board of trustees by: MLee Trustee D Harvey Trustee