Youth Lyric Limited
Company Limited by Guarantee
Statement of Financial Activities
(including income and expenditure account)
Year ended 30 June 2024
2024
Unrestricted
funds Total funds Total funds
2023
Note
Income and endowments
Donations and legacies
Charitable activities
other trading activities
Total income
20.572
109,494
10,752
140,818
20,572
109,494
10,752
140,818
22,640
119,493
9,593
151,726
Expendlture
Expenditure on charitable activities
Total expenditure
157,632
157,632
148,800
157,632
157,632
148,800
Net lexpenditure)lincome and net movement in funds
{16,8141
116,814)
2.926
Reconclllation of funds
Total funds brought forward
Total funds carried forward
20,635
20,635
17.709
3,821
3.821
20.635
The statement of financial activities includes all gains and losses recognised in the year.
All income and expenditure derive from continuing activities.
The note5 on pages 6 to 13 form part of these financial statements.

Youth Lyric Limited
Company Limited by Guarantee
Statement of Financial Position
30 June 2024
2024
2023
Note
Fixed assets
Tangible fixed assets
13
1,937
3,672
Current assets
Stocks
Debtors
Cash at bank and in hand
14
15
225
200
2,772
200
2,522
18,739
3,197
21,461
Creditors: amounts falling due withln one year
Net current assets
16
1.313
4,498
16,963
20,635
1,884
Total asset$ less current liabilities
3,821
Net assets
3,821
20,635
Funds of the charity
Unrestricted funds
3,821
20,635
Total charity funds
18
3,821
20.635
For the year ending 30 June 2024 the ch8rity was entitled to exemption from audit under section 477 of
the Companies Act 2006 relating lo 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 ofthe Act with
respect to accounting records and the preparation of financial stalemenls.
These financial statements have been prepared in accordance with the provisions applicable to
companies subject lo the small companies, regime.
The
ina
cial slalemenls were approved by the board of I
..121.112.1.....,
s and aulhorisedJopis
ue
and are signed on behalf of the board by..
ryans
stee
man
ruslee
The note5 on pages 6 to 13 form part of these flnanclal statements.

Youth Lyric Limited
Company Limited by Guarantee
Notes to the Financial Statements
Year ended 30 June 2024
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 Spiingfield Road, Belfast, BT127DU, Anlrim.
Statement of compllance
These financial statements have been prepared in compliance with FRS 102, 'The Financial
Reporting Standard applicable in the UK and the Republic of Ireland,, the Statement of
Recommended Practice applicable lo charities preparing their accounts in accordance with the
Financial Reporting Standard applicable in the UK and Republic of Irelarld IFRS 1021 (Charities
SORP IFRS 10211 and the Companies Act 2006.
Accountlng policies
Basis of preparatlon
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 al fair
value through income or expenditure.
The financial statements are prepared in sterling, which is the functional currency of the enlily.
Going concern
There are no material 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, eslimales
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 lo be reasonable under the circumstances.
Fund accountlng
Unreslricled funds are available for use al the discretion of the Iruslees to further any of the
charity's purposes.
Designated funds are unreslricled funds earmarked by the Irustees for particular future project or
commitmerll.
Restricted funds are subjected to restrictions on their expenditure declared by the donor or through
the terms of an appeal, and fall into one of two sub-classes.. restricted income funds or endowment
funds.

Youth Lyric Limited
Company Limited by Guarantee
Notes to the Financial Statements (conllnued)
Year ended 30 June 2024
Accounting policies (contlnuedj
Incoming resources
All incoming resources are included in the slalemenl of financial activities when enlillemenl has
passed to the Charity., il 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 ils amount can be measured reliably.
legacy income is recognised when receipt is probable and enlillement is established.
income from donated goods is measured al the fair value of the goods unless this is
impractical lo measure reliably, in which case the value is derived from the cost lo the donor
or the eslimaled 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 is recognised with the delivery of the
contracted service. This is classified as unrestricted funds unless there is a contractual
requirement for il to be spent on a particular purpose and returned if unspent. in which case
il may be regarded as restricted.
Resources expended
Expendilure 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 aclivilies, events, non-
charitable trading activities, and the sale ol donated goods.
expenditure on charitable activities includes all costs incurred by a charity in undertaking
activities that further its charitable aims for the benefit of ils beneficiaries. including those
support costs and costs relating to the goverrlance of the charity apportioned to charitable
activities.
other expenditure includes all expenditure that is neither related to raising funds for the charity
nor pari 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 lo that activity. Shared costs are apportioned
between the activities they contribute to on a reasonable, justifiable and consislenl basis.
Tangible assets
Tangible assets are initially recorded al cost, and subsequently staled al cost less any accumulated
depreciation and impairment losses. Any tangible assets carried al revalued amounts are recorded
at the lair value at the dale of revaluation less any subsequent accumulated depreciation and
subsequent accumulated impairment losses.

Youth Lyric Limited
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 30 June 2024
Accounting pollcles (contlnueLI)
Tangible assets (conllnued)
An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other
recognised gains and losses, unless il reverses a charge for impairment that has previously been
recognised as expenditure within the statement of financial activities. A decrease in the carrying
amount of 2n 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 to 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
200/D Straight line
330/D Straight line
Impairment of fixed assets
A review lor indicators of impairment is carried out at each reporting dale, with the recoverable
amount being estimated where such indicators exist. Where the carrying value exceeds the
recoverable amount, the asset is impaired accordingly, Prior impairments are also reviewed for
possible reversal al each reporting date.
For the purposes of impairment lesling. when it is not possible lo estimate the recoverable amount
ol an individual asset, an estimate is made of the recoverable amount ol the cash-generating unil
to which the asset belongs. The cash-generating unit is the smallest idenliliable group ol assets
that includes the asset and generates cash inflows that largely independent of the cash inflows
from other assets or groups of assets.
For impairment testing of goodwill, the goodwill acquired in a business combination is, from the
acquisition date, allocated lo each of the cash-generaling units that are expected lo benefit from
the synergies of the combination, irrespective of whether other assets or liabilities of the charity
are assigned lo those units.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and
sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing
the stock lo ils present IoGation and condition.
Financial Instruments
A financial asset or a financial liability is recognised only when the charity becomes a party lo the
conlraclual provisions of the inslrumenl.
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 2024
Accounting poll¢les (¢ontlnuÉd}
Financial instruments {¢onllnued)
Current assets and current liabilities are subsequently measured al the cash or cilher consideration
expected to be paid or received and not discounted.
Debt instruments are subsequently measured al amortised cost.
Where investments in shares are publicly traded or their fair value can otherwise be measured
reliably, the investment is subsequently measured at 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 al lair value, unless
payment for an asset is deferred beyond normal business terms or financed at 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 al fair value, with any changes recognised
in the slalement of financial activities, Wth the exception of hedging instruments in a designated
hedging relationship.
Financial assets that are measured al cost or amortised cost are reviewed for objective eviden
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 ol financial activities
in which the initial gain was recognised.
For all equity instruments regardless of significance, and other financial assets that are individLJally
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, lo 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.
Defined contribution plans
Contributions lo defined contribution plar)s are recognised as an expense in the period in which
the related seryice is provided. Prepaid contributions are recognised as an asset lo the extent that
the prepayment will lead to 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 dale 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 lo £1 per member of the charity

Youth Lyric Limited
Company Limited by Guarantee
Notes to the Financial Statements (conllnued)
Year ended 30 June 2024
Donations and legacies
Unrestricted Totsl Funds Unrestricted Total Funds
Funds
2024
Funds
2023
Donatlons
Donations
20.572
20,572
22,640
22,640
Charitable activities
Unreslricled Total Funds Unreslricled Total Funds
Funds
2024
Funds
2023
Grants
Fees and other activities
1,746
117,747
1,746
117.747
109.494
109,494
109,494
109,494
119,493
119.493
other trading activities
Unrestricted Total Funds Unrestricted Total Funds
Funds
2024
Funds
2023
Fundraising events
Merchandise sales
Other income
8,660
2,795
1,297
6,660
2,795
1.297
5,208
4,385
5,208
4,385
10,752
10.752
9.593
9,593
Expenditure on charltable activities by fund type
Unrestricted Total Funds Unrestricted Total Funds
Funds
2024
Funds
2023
Charitable activities
Support costs
154,936
2,696
154,936
2,696
148,800
148,800
157,632
157,632
148,8(10
148,800
Expenditure on charitable activities by activity type
Activities
undertaken
directly Support costs
Total funds
2024
Total fund
2023
Charitable activities
Governance costs
154.936
154,936
2,696
148,800
2,696
154,936
2,696
157,632
148,800

Youth Lyric Limited
Company Limited by Guarantee
Notes to the Financial Statements fconllnue6}
Year ended 30 June 2024
10. Net lexpendlturellincome
Net lexpendilurellincome 15 Stated after chargingl(crediling)'.
2024
2023
Depreciation of tangible fixed assets
1,735
2,578
11. Staff costs
The total staff costs and employee benefits for the reporting period are analysed as follows..
2024
2023
Wages and salaries
Social security costs
Employer Gonlribulions to pension plans
27,847
1,471
1,008
30.246
1.585
30,326
31,831
The average head count of employees during the year was 312023.. 21.
No employee received employee benefits of more than £60,000 duiing the year12023'. Nill.
12. Trustee remuneration and expenses
There were no Iruslees, remuneration or other benefits for the year ended 30 June 2024 nor for
the year ended 30 June 2023.
There were no trustees, expenses paid for the year ended 30 June 2024 nor for the year ended 30
June 2023.
13. Tangible fixed assets
Fixtures and
rillings
Equipment
Total
Cost
At 1 July 2023 and 30 June 2024
Depreciatlon
At 1 July 2023
Charge for the year
At 30 June 2024
2,971
6,480
9,451
2,971
2,808
1,735
5,779
1,735
2,971
4,543
7,514
Carrying amount
At 30 June 2024
1,937
1,937
3,672
Al 30 June 2023
3,672
10

Youth Lyric Limited
Company Limited by Guarantee
Notes to the Financial Statements (contAnueLI)
Year ended 30 June 2024
14. Stocks
2024
2023
Raw materials and consumables
225
200
15. Debtors
2024
2023
Prepayments and accrued income
Other debtors
200
2,522
200
2,522
16. Creditors: amounts falling due within one year
2024
2023
Accruals and deferred income
Social security and other taxes
Other creditors
313
3,802
146
550
1,000
1,313
4.498
17. Pensions and other post retlrement benefits
Defined contribution plans
The amount recognised in income or expenditure as an expense in relation lo defined contribution
plans was £1,00812023.' £1,585).
18. Analysis of charitable funds
Unrestricted funds
At
Income Expenditure 30 June 2024
qt 1 July 2023
General funds
20,635
140,818
1157,6321
3,821
Al
Income Expenditure 30 June 2023
qt 1 July 2022
General funds
17,709
151,726
1148,8001
20,635
11

Youth Lyric Limited
Company Limited by Guarantee
Notes to the Financial Statements fconfinued)
Year ended 30 June 2024
19. Analysis of net assets between funds
Unrestricted Total Funds
Funds
2024
Tangible fixed assets
Current assets
Creditors less than 1 year
Net assets
1,937
2,972
{1,313)
3,596
1,937
2,972
(1,3131
3,598
Unrestricted Total Funds
Funds
2023
Tangible fixed assets
Current assets
Creditors less than 1 year
Net assets
3,672
21,461
{4,498)
20,635
3,S72
21,461
{4,4981
20,635
12