2025-06-30-accounts

Youth Lyric Limited

Company Limited by Guarantee

Statement of Financial Activities

(including income and expenditure account)

Year ended 30 June 2025

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|||||||||| |---|---|---|---|---|---|---|---|---| |2025|2024| |Unrestricted|Restricted| |funds|funds|Totalfunds|Total|funds| |Note|£|£|£|£| |Income|and|endowments| |Donations|and|legacies|5|13,874|—|13,874|20,572| |Charitable|activities|6|106,541|3,288|109,829|109,494| |Other|trading|activities|7|8,845|—|8,845|10,752| |Total|income|129,260|3,288|132,548|140,818| |Expenditure| |Expenditure|on|charitable|activities|8,9|(118,536)|—|(118,536)|(157,632)| |Total|expenditure|(118,536)|-|(118,536)|(157,632)| |Net|income/(expenditure)|10,724|3,288|14,012|(16,814)| |Transfers|between|funds|3,288|(3,288)|—|—| |Net|movement|in|funds|14,012|-|14,012|(16,814)| |Reconciliation|of|funds| |Total|funds|brought|forward|3,821|-|3,821|20,635| |Total|funds|carried|forward|17,833|-|17,833|3,821|

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The statement of financial activities includes all gains and losses recognised in the year ~~.~~ All income and expenditure derive from continuing activities.

The notes on pages 6 to 13 form part of these financial statements.

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Youth Lyric Limited

Company Limited by Guarantee

Statement of Financial Position

30 June 2025

																					2025	2024
																				Note	£	£
Fixed assets
Tangible fixed							assets													13	5,665	1,937
Current assets
Stocks																				14	225	225
Debtors																				15	475	200
Cash		at bank					and in hand														13,620	2,772
																					14,320	3,197
Creditors:						amounts falling								due within one year 16							(2,152)	(1,313)
Net current assets																					12,168	1,884
Total		assets less						current liabilities													17,833	3,821
Net assets																					17,833	3,821
Funds			ofthe				charity
Unrestricted funds																					17,833	3,821
Total		charity					funds													18	17,833	3,821

For the year ending 30 June 2025 the charity was entitled to 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 its 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 to 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.

These financial statements were approved by the board of trustees and authorised for issue on 12 March 2026, and are signed on behalf of the board by:

N Gilbert

R Creelmaw

N Gilbert R Creelman Trustee Trustee

The notes on pages6 to 13 form part of these financial statements.

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Youth Lyric Limited

Company Limited by Guarantee

Notes to the Financial Statements

Year ended 30 June 2025

1. 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, BT127DU, Antrim.

• 2 ~~.~~ Statement of compliance

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 to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (Charities SORP (FRS 102)) and the Companies Act 2006 ~~.~~

• 3 ~~.~~ Accounting policies

Basis 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 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, 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

Unrestricted funds are available for use at the discretion of the trustees to 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 to restrictions on their expenditure declared by the donor or through the terms of an appeal, and fall into one of two sub ~~-c~~ lasses: restricted income funds or endowment funds ~~.~~

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Youth Lyric Limited

Company Limited by Guarantee

Notes to the Financial Statements (continuea)

Year ended 30 June 2025

1. Accounting policies (continued)

Incoming resources

All incoming resources are included in the statement of financial activities when entitlement has passed to 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 to particular categories of income:

• e income from donations or grants is recognised when there is evidence of entitlement to 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.

• e 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 it 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 it relates: ° expenditure on raising funds includes the costs of all fundraising activities, events, non ~~-c~~ haritable 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 the benefit of its beneficiaries, including those support costs and costs relating to the governance of the charity apportioned to charitable activities.

• e other expenditure includes all expenditure that is neither related to raising funds for the charity nor part of its expenditure on charitable activities ~~.~~

All costs are allocated to 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 to 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 date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses ~~.~~

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Youth Lyric Limited

Company Limited by Guarantee

Notes to the Financial Statements (continued)

Year ended 30 June 2025

1. Accounting policies (continued)

Tangible assets (continued)

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 has previously been recognised as expenditure within the statement 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 it 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 its residual value, over the useful economic life of that asset as follows:

Fixtures and fittings ~~-~~ 20% straight line Equipment ~~-~~ 33% straight 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 indicators exist ~~.~~ Where the carrying value exceeds 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 it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash ~~-g~~ enerating unit to which the asset belongs. The cash ~~-g~~ enerating 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 date, allocated to each of the cash ~~-g~~ enerating 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 to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition ~~.~~

Financial instruments

A financial asset or a financial liability is recognised only when the charity becomesa 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.

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Youth Lyric Limited

Company Limited by Guarantee

Notes to the Financial Statements (continuea)

Year ended 30 June 2025

1. Accounting policies (continued)

Financial instruments (continued)

Current assets and current liabilities are subsequently measured at the cash or other consideration expected to be paid or received and not discounted.

Debt instruments are subsequently measured at 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 at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate 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 rate of interest for a similar debt instrument ~~.~~

Other financial instruments are subsequently measured at fair 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 at 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 ~~.~~

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund ~~.~~

When contributions are not expected to 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 ~~.~~

1. 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

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Youth Lyric Limited

Company Limited by Guarantee

Notes to the Financial Statements (continued)

Year ended 30 June 2025

5. Donations and legacies

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|||||||| |---|---|---|---|---|---|---| |Unrestricted|Total|Funds|Unrestricted|Total|Funds| |Funds|2025|Funds|2024| |£|£|£|£| |Donations| |Donations|13,874|13,874|20,572|20,572| |6.|Charitable|activities| |Unrestricted|Restricted|Total|Funds| |Funds|Funds|2025| |£|£|£| |Grants|—|3,288|3,288| |Fees|and|other|activities|106,541|—|106,541| |106,541|3,288|109,829| |Unrestricted|Restricted|Total|Funds| |Funds|Funds|2024| |£|£|£| |Grants|=|—|=| |Fees|and|other|activities|109,494|—|109,494| |109,494|-|109,494| |7.|Other|trading|activities| |Unrestricted|Total|Funds|Unrestricted|Total|Funds| |Funds|2025|Funds|2024| |£|£|£|£| |Fundraising|events|1,364|1,364|6,660|6,660| |Merchandise|sales|5,722|5,722|2,795|2,795| |Other|income|1,759|1,759|1,297|1,297| |8,845|8,845|10,752|10,752|

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1. Expenditure on charitable activities by fund type

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||||||| |---|---|---|---|---|---| |Unrestricted|Total|Funds|Unrestricted|Total|Funds| |Funds|2025|Funds|2024| |£|£|£|£| |Charitable|activities|117,498|117,498|154,936|154,936| |Support|costs|1,038|1,038|2,696|2,696| |118,536|118,536|157,632|157,632|

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Youth Lyric Limited

Company Limited by Guarantee

Notes to the Financial Statements (continuea)

Year ended 30 June 2025

9. Expenditure on charitable activities by activity type

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||||||| |---|---|---|---|---|---| |Activities| |undertaken|Total|funds|Total|fund| |directly|Support|costs|2025|2024| |£|£|£|£| |Charitable|activities|117,498|-|117,498|154,936| |Governance|costs|-|1,038|1,038|2,696| |117,498|1,038|118,536|157,632|

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10 ~~.~~ Net income/(expenditure)

Net income/(expenditure) is stated after charging/(crediting):

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||||||| |---|---|---|---|---|---| |2025|2024| |£|£| |Depreciation|of tangible|fixed|assets|1,865|1,735|

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11 ~~.~~ Staff costs

The total staff costs and employee benefits for the reporting period are analysed as follows:

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|||||||| |---|---|---|---|---|---|---| |2025|2024| |£|£| |Wages|and|salaries|21,269|27,847| |Social|security|costs|1,663|1,471| |Employer|contributions|to|pension|plans|961|1,008| |23,893|30,326|

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The average head count of employees during the year was 2 (2024: 3).

No employee received employee benefits of more than £60,000 during the year (2024: Nil) ~~.~~

12 ~~.~~ Trustee remuneration and expenses

There were no trustees' remuneration or other benefits for the year ended 30 June 2025 nor for the year ended 30 June 2024 ~~.~~

There were no trustees' expenses paid for the year ended 30 June 2025 nor for the year ended 30 June 2024.

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Youth Lyric Limited

Company Limited by Guarantee

Notes to the Financial Statements (continuea)

Year ended 30 June 2025

13 ~~.~~ Tangible fixed assets

																	Fixtures	Fixtures	Fixtures	and
																		fittings	Equipment
																			£			£	£
	Cost
	At 1	July 2024																	2,971			6,480	9,451
	Additions																			~~-~~		5,593	5,593
	At 30			June 2025															2,971		12,073		15,044
	Depreciation
	At 1	July 2024																	2,971			4,543	7,514
	Charge					for		the year												~~—~~		1,865	1,865
	At 30			June 2025															2,971			6,408	9,379
	Carrying amount
	At 30			June 2025																~~-~~		5,665	5,665
	At 30		June					2024												~~-~~		1,937	1,937
14~~.~~	Stocks
																						2025	2024
																						£	£
	Raw materials and consumables																					225	225
15~~.~~	Debtors
																						2025	2024
																						£	£
	Prepayments and accrued income																					475	200
16~~.~~	Creditors:							amounts falling due within one year
																						2025	2024
																						£	£
	Accruals and deferred income																					1,092	313
	Social			security and other									taxes									110	~~—~~
	Other			creditors																		950	1,000
																						2,152	1,313

17 ~~.~~ Pensions and other post retirement benefits

Defined contribution plans

The amount recognised in income or expenditure as an expense in relation to defined contribution plans was £961 (2024: £1,008).

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Youth Lyric Limited

Company Limited by Guarantee

Notes to the Financial Statements (continuea)

Year ended 30 June 2025

18 ~~.~~ Analysis of charitable funds

Unrestricted funds	Unrestricted funds	Unrestricted funds	Unrestricted funds
						At								At
				1 July 2024			Income	Expenditure			Transfers 30 June 2025
					£		£	£			£		£
General			funds		3,821		129,260	(118,536)			3,288		17,833
						At								At
				1 July 2023			Income	Expenditure			Transfers 30 June 2024
					£		£	£			£		£
General			funds		20,635		140,818	(157,632)				~~-~~	3,821
Restricted funds
						At								At
				1 July 2024			Income	Expenditure			Transfers 30 June 2025
					£		£	£			£		£
Grants						~~-~~	3,288			~~-~~	(3,288)			~~-~~
						At								At
				1 July 2023			Income	Expenditure			Transfers 30 June 2024
					£		£	£			£		£
Grants						-	-			-		-		-

Transfers have taken place during the year which relate to fixed assets. Youth Lyric used funding to purchase assets which have been transferred to Unrestricted Funds as they fully own the assets, no restrictions have been placed on these assets ~~.~~

19 ~~.~~ Analysis of net assets between funds

				Unrestricted	Unrestricted	Total	Total	Funds
				Funds				2025
					£			£
Tangible fixed assets				5,665				5,665
Current assets				14,320				14,320
Creditors less than 1 year				(2,152)				(2,152)
Net assets				17,833				17,833
				Unrestricted		Total Funds
				Funds				2024
					£			£
Tangible fixed assets				1,937				1,937
Current assets				2,972				2,972
Creditors less than 1 year				(1,313)				(1,313)
Netassets				3,596				3,596

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