Youth Lyric Limited
Company Limited by Guarantee
statement of Financial Activities
(including income and expenditure account)
Year ended 30 June 2023
2023
Unreslricled
funds Total funds
2022
Total funds
Note
Income and endowments
Donations and legacies
Charitable activities
other trading activities
Total income
22,640
119,493
9,593
22,640
119.493
9.593
9,576
114,836
5.158
151,726
151,726
129,570
Expenditure
Expenditure on charitable activities
Total expenditure
148,800
148,800
148,800
107,125
107,125
148,800
Net income and net movement in funds
2,926
2,926
22,445
Reconciliation of funds
Total funds broLJght forward
Total funds carried forward
17,709
17.709
(4,6761
17,769
20,635
20,635
The statement of financial activities includes all gains and10sses recognised in the year.
Al income and expenditure derive from continuing activities.
The notes on pages 5 to 12 form part of thèse financial statements.

Youth Lyric Limited
Company Limited by Guarantee
Statement of Financial Position
30 June 2023
2023
2022
Note
Fixed assets
Tangible fixed assets
13
3,672
1.046
Current assets
Stocks
Debtors
Cash al bank and in hand
14
15
200
2,522
18,739
200
2,703
30,880
21,461
33,783
Creditors: amounts falling due within one year
Net current assets
16
4,498
17,060
16,963
16,723
17,769
17,769
Total assets less current Ilabilities
20,635
20,635
Net assets
Funds of the charlty
Unrestricted funds
20.635
17.769
Total charity funds
18
20.635
17,769
For the year ending 30 June 2023 the charity was entitled lo exemption from audit under section 477
of the Companies Act 2006 relating to small companies.
Directors, responsibilities..
The members have not required the company to obtain an audit of ils financial statements for the
year in question in accordance with section 476.,
The directors acknowledge their responsibilities for complying with the requirements of the Act
with respect lo accounting records and the preparation of financial statements.
These financial statements have been prepared in accordance with the provisions applicable to
companies subject to the small companies, regime.
e fnancial statements were approved by the board of I
and are signed on behalf of the board by..
aulhorised
Issue on,.
Bry8
Rcr
tee
The note5 on pages 5 to 12 form part of these financlal statements.

Youth Lyric Limited
Company Limited by Guarantee
Notes to the Financial Statements
Year ended 30 June 2023
General information
The charity is a public benefit entity and a private company limited by guarantee, registered in
Northern Ireland and a registered charity in Northern Ireland. The address of the registered office
is 398 Springfield Road, Belfast, B T127DU. Anlrim.
statement of compllance
These financial statements have been prepared in compliance wlh FRS 102, 'The Financial
Reporting Standard applicable in the UK and the Republic of Ireland,, the Slalement of
Recommended Practice applicable to charities preparing their accounts in accordance with the
Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 (Charities
SORP IFRS 10211 and the Companies Act 2006.
Accounting policies
Basls of preparation
The financial statements have been prepared on the historical cost basis, as modified by the
revaluation of certain financial assets and liabilities and investment properties measured at fair
value through income or expenditure.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
There are no malerial uncertainties about the charity's ability to continue.
Judgements and key sources of estimation 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 are based on experience and other factors, including expectations
of future events that are believed to be reasonable under the circumstances.
Fund accounting
Unreslricled funds are available for use at the discretion of the trustees lo further any of the
charity's purposes.
Designated funds are unrestricted funds earmarked by the trustees for particular future project or
commitment,
Restricted funds are subjected lo restrictions on their expenditure declared by the donor or
Ihrough the terms of an appeal. and fall into one of iwo sub-classes.. restricted income funds or
erldowmenl funds.

Youth Lyric Limited
Company Limited by Guarantee
Notes to the Financial Statements {contAnuedJ
Year ended 30 June 2023
Accounting policies fcontlnuedj
Incomlng resources
All incoming resources are included in the slalement of financial 8clivilies when entitlement has
passed lo the charity.. it is probable that the economic benefits associated with the transaction
will flow to the charity and the amount can be reliably measured. The following specific policies
are applied lo particular categories of income..
income from donations or grants is recognised when there is evidence of entitlement lo the
gift, receipt is probable and its amount can be measured reliably.
legacy income is recognised when receipt is probable and entitlement is established.
income from donated goods is measured at the fair value of the goods unless this is
impractical to measure reliably, in which case the value is derived from the cost to the donor
or the estimated resale value. Donated facilities and services are recognised in the
accounts when received if the value can be reliably measured. No amounts are included for
the contribution of general volunteers.
income from contracts for the supply of services 15 recognised with the delivery of the
contracted service. This is classified as unrestricted funds unless there is a conlraclual
requirement for il to be spent on a particular purpose and returned if unspent, in which case
it may be regarded as restricted.
Resources expended
Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any
VAT which cannot be fully recovered. and is classified under headings of the statement of
financial activities to which il relates..
expenditure on raising funds includes the costs of all fundraising activities, events,
non-charilable trading activities, and the sale of donated goods.
expenditure on charitable activities includes all costs incurred by a charity in undertaking
activities that further its charitable aims for Ihe benefit of ils beneficiaries, including those
support costs and costs relating to the governance of the charity apportioned lo charitable
activities.
other expenditure includes all expenditure that is neither related to raising funds for the
charily nor part of ils expenditure on charitable aclivilies.
All costs are allocated lo expenditure categories reflecting the use of the resource. Direct costs
attributable to a single activity are allocated directly to that activity. Shared costs are apportioned
between the activities they contribute lo on a reasonable. justifiable and consistent basis.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any
accumulated depreciation and impairment losses. Any tangible assets carried at revalued
amounts are recorded at the fair value at the dale of revaluation less any subsequent
ac¢umul8led depreciation and subsequent accumulated impairment losses.

Youth Lyric Limited
Company Limited by Guarantee
Notes to the Financial Statements (contlnued)
Year ended 30 June 2023
Accounting policies (contlnued)
Tanglble assets (contlnued)
An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other
recognised gains and losses, unless it reverses a charge for impairment that ha8 previously been
recognised as expenditure within the s181emenl of financial activities. A decrease in the carrying
amount of an asset as a result of revaluation, is recognised in other recognised gains and losses.
except to which il offsets any previous revaluation gain. in which case the loss is shown within
other recognised gains and losses on the statement of financial activities.
Depreciation
Depreciation is calculated so as lo write off the cost or valuation of an asset. less ils residual
value, over the useful economic life of that asset as follows..
Fixtures and fittings
Equipment
20 % slraighl line
330/0 slraighl line
Impairment of fixed assets
A review for indicators of impairment is Carried out at each reporting date, with the recoverable
amount being estimated where such indicalors exist. Where the carrying value eX￿ed$ the
recoverable amount. the asset is impaired accordingly. Prior impairments are also reviewed for
possible reversal at each reporting date.
For the purposes of impairment testing, when il is not possible lo estimate the recoverable
amount of an individual asset. an estimate is made of the recoverable amount of the
cash-generating unil lo which the asset belongs. The cash-generating unit is the smallest
identifiable group of assets that includes the asset and generates cash inflows that largely
independent of the cash inflows from other assets or groups of assets.
For impairment testing of goodwill, the goodwill acquired in a business combination is, from the
acquisition dale. allocated to each of the cash-generating units that are expected to benefit from
the synergies of the combination. irrespective of whether other assets or liabilities of the charity
are assigned to those units.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs lo complete and
sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing
the stock lo ils present location and condition.
Financial instruments
A financial asset or a financial liability is recognised only when the charity becomes a party to the
contractual provisions of the instrument.
Basic financial instruments are initially recognised at the amount receivable or payable including
any related transaction costs.

Youth Lyric Limited
Company Limited by Guarantee
Notes to the Financial Statements (contlnuedj
Year ended 30 June 2023
Accounting policies (contlnued)
Financial instruments (¢ontlftJuedJ
Current assets and current liabilities are subsequently measured at the cash or other
consideration expected lo be paid or received and not discounted.
Debt instruments are subsequently measured at amortised cost.
Vvhere investments in shares are publicly traded or their fair value can othe￿ise be measured
reliably, the investment is subsequently measured al fair value with changes in fair value
recognised in income and expenditure. All other such investments are subsequently measured at
cost less impairment.
Other financial instruments. including derivatives, are initially recognised at fair value, unless
payment for an asset is deferred beyond normal business terms or financed al a rale of interest
that is not a market rate, in which case the asset is measured at the present value of the future
payments discounted at a market rale of interest for a similar debt instrument.
Other financial instruments are subsequently measured at lair value, with any changes
recognised in the statement of financial activities, with the exception of hedging instruments in a
designated hedging relationship.
Financial assets that are measured al cost or amortised cost are reviewed for objective evidence
of impairment at the end of each reporting date. If there is objective evidence of impairment. an
impairment loss is recognised under the appropriate heading in the statement of financial
activities in which the initial gain was recognised.
For all equity instruments regardless of significance, and other financial assets that are
individually significant, these are assessed individually for impairment. Other financial assets are
either assessed individually or grouped on the basis of similar credit risk characteristics.
Any reversals of impairment are recognised immediately, to the extent that the reversal does not
result in a carrying amount of the financial asset that exceeds what the carrying amount would
have been had the impairment not previously been recognised.
Deflned contrlbutlon plans
Contributions to defined contribution plans are recognised as an expense in the period in which
the relaled service is provided. Prepaid contributions are recognised as an asset to the extent
that the prepayment will lead lo a reduction in future payments or a cash refund.
When contributions are not expected lo be settled wholly within 12 months of the end of the
reporting date in which the employees render the related service, the liability is measured on a
discounted present value basis. The unwinding of the discount is recognised as an expense in
the period in which it arises.
Limited by guarantee
Youth Lyric is a company limited by guarantee and has no share capital. In the event of the
charity being wound up, the liability in respect of the guarantee is limited to £1 per member of the
charity

Youth Lyric Limited
Company Limited by Guarantee
Notes to the Financial Statements (¢ontlnuedJ
Year ended 30 June 2023
Donations and legacles
Unreslricled Total Funds Unrestricted Total Funds
Funds
2023
Funds
2022
Donations
Donations
22,640
22.640
9.576
9,576
Charilable activitles
Unrestricted Total Funds Unreslricled Total Funds
Funds
2023
Funds
2022
Grants
Fees and other activities
1,746
117,747
1,746
117.747
15,070
99,766
15,070
99,766
119,493
119,493
114,836
114,836
Other trading activlties
Unrestricted Total Funds Unrestricted Total Funds
Funds
2023
Funds
2022
Fundraising events
Merchandise sales
5,208
4,385
5,208
4.385
5.158
5,158
9,593
9,593
5.158
5,158
Expenditure on charitable activities by fund type
Unrestricted Total Funds Unrestricted Total Funds
Funds
2023
Funds
2022
Charitable activities
148,800
148,800
107,125
107,125
Expendlture on charltable actlvltles by activity type
Activities
undertaken Total funds
directly
2023
Total fund
2022
Charitable activities
148,800
148.800
107,125
10. Net income
Nel income is slated after chargingl{creditingl'.
2023
2022
Depreciation of tangible fixed assets
2,578
718

Youth Lyric Limited
Company Limited by Guarantee
Notes to the Financial Statements (contlnued)
Year ended 30 June 2023
11. Staff costs
The total staff costs and employee benefits for the reporting period are analysed as follows..
2023
2022
Wages and salaries
Employer contributions to pension plans
30,246
1,585
16,426
455
31,831
16,881
The average head count of employees during the year was 2 (2022= 1}.
No employee received employee benefits of more than £60,000 during the year (2022.. Nil).
12. Trustee remuneration and expenses
There were no Iruslees, remuneration or other benefits for the year ended 30 June 2023 nor for
the year ended 30 June 2022.
There were no Iruslees, expenses paid for the year ended 30 June 2023 nor for the year ended
30 June 2022.
13. Tangible fixed assets
Fixtures and
fillings
Equipment
Total
Cost
At 1 July 2022
Additions
2,971
1,276
5,204
4,247
5,204
At 30 June 2023
2,971
6,480
9,451
Depreciation
At 1 July 2022
Charge for the year
At 30 June 2023
2,551
420
650
2,158
3,201
2,578
2,971
2,808
5,779
Carrying amount
At 30 June 2023
3,672
3,672
AI 30 June 2022
420
626
1,046
14. Stocks
2023
2022
Raw materials and consumables
200
200
10

Youth Lyric Limited
Company Limited by Guarantee
Notes to the Financial Statements (conttinuodj
Year ended 30 June 2023
15. Debtors
2023
2022
Prepayments and accrued income
Other debtors
241
2,462
2.522
2,522
2,703
16. Creditors: amounts falling due within one year
2023
2022
Accruals and deferred income
Social security and other taxes
other credilors
3,802
146
550
15,618
782
660
4,498
17,060
17. Pensions and other post retirement benefits
Defined contribution plans
The amount recognised in income or expenditure as an expense in relation to defined
conlribution plans was £1.58512022'. £4551.
18. Analysi5 of charitable funds
Unrestricted funds
At
Income Expenditure 30 June 2023
It 1 JLFly 2022
General funds
17,709
151,726
(148,8001
20,635
Al
Income Expenditure 30 June 2022
411 July 2021
General funds
14,676}
129,570
(107,1251
17,769
11

Youth Lyric Limited
Company Limited by Guarantee
Notes to the Financial Statements fcontlnuedj
Year ended 30 June 2023
19. Analysls of net assets between fund$
Unrestricted Total Funds
Funds
2023
Tangible fixed assets
Current assets
Creditors less than 1 year
Net assets
3,672
21,461
{4,4981
20,635
3,672
21,461
14,4981
20.635
Unrestricted Total Funds
Funds
2022
Tangible fixed assets
Current assets
Creditors less than 1 year
Net assets
1,046
33,783
117,0601
17,769
1,046
33,783
117,0601
17,769
12