REGISTERED COMPANY NUMBER: 08071972 (England and Wales)

REGISTERED CHARITY NUMBER: 1149090

REPORT OF THE TRUSTEES AND

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

FOR

UD MUSIC FOUNDATION

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NOTE FROM CHAIR & CEO/FOUNDER

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Report of the Trustees

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Independent Examiner's Report

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Statement of Financial Activities

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Balance Sheet

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Cash Flow Statement

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Notes to the Cash Flow Statement

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Notes to the Financial Statements

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As we reflect on 2024/25, we are proud of the scale and quality of activity UD Music Foundation has delivered during the year, at a time when young Black talent continues to face systemic barriers to training, professional networks and progression within the music sector. From our base at Talent House in Newham to national and international stages, our work this year has demonstrated the impact of sustained, culturally relevant investment in young people.

A defining feature of the year was the significant growth of Flames Collective. What began as a pre-vocational weekly programme has developed into a semi-professional platform for young vocalists and creators. During the year, Flames Collective delivered 15 high-profile performances, including repeated national and international appearances with RAYE at Radio 1 Big Weekend, Summertime Ball, Reading & Leeds Festival and the MTV EMAs, alongside its first headline performance, A Gospel Christmas, at the Barbican. These opportunities reached a reported live audience of 129,952 people and a digital audience in excess of 2 billion. Participation and attendance remained strong throughout the year, with 100% positive participant feedback recorded, and five participants progressed directly into the Incubator programme. Members of Flames Collective also generated income through paid performance work, demonstrating the effectiveness of UD's progression pipeline.

Alongside this, the Incubator programme reinforced UD's role in supporting Global Majority artists at the point of transition into sustainable professional careers. Ten emerging independent artists completed a six-month accelerator programme combining an industry bootcamp, tailored mentoring, creative development and showcase opportunities. The cohort was 100% Global Majority and predominantly female and non-binary. All participants completed new creative outputs, with most achieving releases during or shortly after the programme, and reported measurable growth in confidence, business skills and professional networks.

Industry Takeover 2024 further demonstrated the value of youth co-curation and strong industry partnerships. Through an expanded seminar programme and a four-day All Dayer conference at Talent House, over 1,100 young people engaged with Black industry leaders and professionals. The programme exceeded participation targets and supported young people to better understand career pathways, progression routes and opportunities within both UD programmes and the wider music sector.

Talent House itself continued to mature as a key piece of cultural infrastructure. Through a subsidised membership scheme, free studio access, masterclasses and showcasing/open mic events, UD supported 50 Black creatives and start-ups to develop skills, creative output and peer networks. Alongside delivery, the organisation began shaping the next phase of Talent House activity, including open-access provision and residencies planned for 2025/26.

These achievements were made possible by the commitment of UD's staff, associates, youth leaders, trustees and wider community. The trustees would like to record their sincere thanks to Arts Council England, trusts and foundations, corporate partners and industry collaborators whose support has enabled this work.

As the organisation approaches its 25th anniversary, UD remains focused on its core mission: widening access to music careers, protecting culturally relevant spaces for Black talent, and strengthening pathways so that young creatives are supported to progress without having to navigate the sector alone.

Dr Anne-Marie Imafidon MBE, Chair of Trustees

Pamela McCormick MBE, CEO and Founder

The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 March 2024. The trustees have adopted the provisions of 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) (effective 1 January 2019).

The Urban Development Music Foundation (UDMF) was founded as a company limited by guarantee (company number 8071972) on 16 May 2012 and a registered charity (number 1149090) on 25 September 2012.

IMPACT STATS/OUR YEAR IN NUMBERS

Number of half-day sessions delivered

459 half-day studio sessions delivered to Talent House members.

115 total Flames Collective sessions delivered (weekly rehearsals plus additional progression activity).

Delivery across Incubator, Industry Takeover and education programmes contributed further structured sessions, though these are not reported as a single half-day roll-up.

Number of events

15 Flames Collective public and industry-facing performances.

10 Industry Takeover seminars/workshops, plus a four-day "All Dayer" conference comprising 10 panel discussions, 5 masterclasses and 2 live events/showcases.

12 Talent House member showcases and networking events.

10 Open Mic events delivered at Talent House.

Number of participants

30 Flames Collective core participants, with 41 participants engaged across the year including alumni and progression activity.

10 Incubator artists supported, selected from 86 applicants.

1,101 young people engaged through Industry Takeover seminars and conference activity.

50 Black creatives and start-ups supported through subsidised Talent House membership.

Live audience

129,952 live audience members reached through Flames Collective performances.

414 people attended 10 Open Mic events at Talent House, with a further 1,500 people reached through external community events.

Approximately 250 audience members attended Incubator showcase performances (The Great Escape and Talent House finale).

Digital audience

2,006,322,000 digital audience reach generated through Flames Collective performances and industry collaborations.

Young people in youth leadership and advisory roles

6 young people engaged as members of UD Creatives (Youth Steering Group)

OBJECTIVES AND ACTIVITIES

Objectives and aims

Purposes

UD Music Foundation (UD) is a Black-led National Youth Music Organisation based in the London Borough of Newham, with a 25-year track record of talent development and community engagement rooted in Black music culture. Founded in 2000 by Pamela McCormick and a collective of hip-hop artists, UD's mission is to educate, empower and create life opportunities for young people inspired by the sounds, words and rhythms of Black music culture, while contributing to a more diverse and equitable music industry.

To date, UD has supported over 50,000 young people experiencing racial inequality and socio-economic disadvantage. Participants are typically from communities underrepresented within the music sector, with disadvantage evidenced through factors including postcode, household income, free school meal eligibility and risk of exclusion. UD takes direct action to nurture talent, equipping young people with the skills, tools and professional networks required to access and progress within the highly competitive music industry. Alumni include internationally recognised artists such as Labrinth and Little Simz, alongside individuals who have progressed into senior executive roles within organisations including Apple, SoundCloud and Universal Music Group.

UD makes an important contribution to diversity, equity and inclusion in the music sector by addressing structural barriers to participation and progression, and by giving prominence to Black music genres that are often overlooked within mainstream music education and training pathways.

Between 2014 and 2018, UD delivered and contributed to large-scale action research and national pilot activity supported by the Paul Hamlyn Foundation, Arts Council England, Esmée Fairbairn Foundation and Youth Music. Working in partnership with organisations including Baby People (Derby), Brighter Sound (Manchester) and Bristol Plays Music/Multi-Track, this work strengthened UD's understanding of the intersectional barriers faced by young Black people in music education and progression. Learning from this period informed the organisation's programme model, business planning and long-term approach to talent development.

In 2022, UD realised a key element of its long-term strategy with the launch of Talent House, a purpose-designed studio and rehearsal facility co-created with young people and emerging artists, in partnership with East London Dance. Talent House was delivered through a five-year capital project supported by Arts Council England, the Greater London Authority, the London Borough of Newham / LLDC and the Foundation for Future London. The space enables UD to deliver sustained, high-quality programmes while providing free or low-cost access to industry-standard facilities for local communities and creatives working in Black music culture.

UD delivers its charitable objectives through a structured programme portfolio. Acceleration programmes, including Flames Collective and the Incubator, support emerging talent to progress into sustainable creative careers. Engagement and education programmes, including Industry Takeover, the Talent House access programme and Level 4 provision, focus on widening participation, developing skills and clarifying progression routes into education, employment and self-employment within the music sector. Live events and showcases connect local communities with emerging talent and professional opportunities.

Although UD operates within an area of high deprivation, the organisation is committed to excellence and to recognising the potential of every young person it engages. UD is driven by the principle that talent is widely distributed, but opportunity is not. While recent delivery has been primarily London-based, UD's programme model and partnerships continue to inform wider sector practice and contribute to national conversations on equity and access in music education.

ACHIEVEMENTS AND PERFORMANCE

Charitable activities

FLAMES COLLECTIVE

What Was Delivered

During 2024/25, Flames Collective delivered a high-volume, high-intensity programme combining regular training, creative development, professional performance and industry-facing activity.

Three auditions were delivered as planned, supporting recruitment into a core cohort alongside an alumni/associate group. The programme ran consistently across the academic year, delivering 28 weekly rehearsal sessions (against a target of 30) with strong attendance and engagement.

Creative and progression activity included a five-day intensive songwriting camp in August that resulted in 12 original demo tracks. In addition, 74 further sessions were delivered covering performance rehearsals, recording, filming and social content creation. In total, 115 sessions were delivered across the year (target: 63), equating to 72.5 activity days versus a target of 41, reflecting extended rehearsal and performance periods.

Performance and industry-facing delivery was a significant feature of the year. Flames Collective delivered 15 public and industry-facing performances (target: 3), including major national and international platforms with RAYE at Radio 1 Big Weekend, Summertime Ball, Reading & Leeds Festival and the MTV EMAs, as well as public festival, headline and corporate performances. The group also delivered its first headline concert, A Gospel Christmas, at the Barbican. Recording and industry collaborations included sessions linked to RAYE (Metropolis Studios / Grammys-related work), Debbie (Real Love), and a range of professional content projects.

What Was Achieved

Access

Flames Collective met its core participation targets, engaging 30 participants in the core group at year end. The cohort exceeded equity, diversity and inclusion targets, with 73% female/non-binary and 77% Global Majority participants. Engagement remained strong throughout the year, with average attendance of 72%, exceeding the 70% target.

Progression

Progression outcomes were strong across the cohort. 90% of participants completed before-and-after skills surveys, with 100% reporting improvements in skills, confidence and/or aspiration, exceeding the 75% target. The most significant gains were in vocal technique and performance, alongside progress in songwriting, collaboration, industry knowledge and career awareness.

Clear progression routes were demonstrated from the core group to the alumni group and the Incubator programme. Of the 41 participants engaged across the year, 22 continued into 2025/26, 6 progressed to the alumni group, and 5 participants progressed into the Incubator programme beginning in June 2025. Destination tracking was completed by 83% of participants, with 88% planning to continue with music and 32% identifying music as their primary career focus.

Quality

Participant experience and satisfaction remained high. 100% of survey respondents reported a positive experience, with 85% rating the programme as excellent or very good and 85% scoring 8-10/10 for likelihood to recommend. Qualitative feedback highlighted increased confidence, improved harmony and vocal technique, higher professional standards, stronger discipline, expanded networks and a strong sense of belonging. Participants consistently described Flames Collective as pivotal to their artistic development and future ambitions.

Business, Industry and Partnerships

Flames Collective achieved significant scale and visibility through its performance and partnership activity. The programme delivered 15 performances, reaching a reported 129,952 live audience members (target: 900) and a digital audience in excess of 2 billion. Ongoing and repeat collaborations with high-profile artists, promoters and venues, including RAYE and the Barbican, demonstrate strong industry confidence in the programme. Participants gained high-value professional credits, networks and real-world experience rarely accessible at this stage of development.

INCUBATOR PROGRAMME

What Was Delivered

During 2024/25, UD delivered a six-month Incubator programme supporting emerging independent artists at the point of transition into the professional music industry.

A competitive recruitment round ran from October 2023 to January 2024, resulting in 10 artists selected from 86 applicants. The cohort aligned strongly with UD's equity objectives: participants were aged 18-25, 100% Global Majority, and 60% female/non-binary. All participants were unemployed or under-employed at the point of entry.

Programme delivery combined industry knowledge, tailored mentoring, creative development and professional showcasing. A five-day industry bootcamp was delivered in April 2024, led by high-profile specialists across law, publishing, labels, distribution, A&R, live, PR, DSP strategy and digital marketing. Contributors included CMU/Music Business Insights, WME, Sheridans, PRS, PPL, MMF, CD Baby and un:hurd.

Participants received six months of one-to-one mentoring, with monthly sessions delivered by lead mentor Cleo Amedume, alongside specialist workshops covering publishing, legal issues, digital releases, marketing, A&R and visual identity. In total, approximately 60 mentoring sessions and five specialist workshops were delivered, slightly below the original target due to scheduling and attendance realities.

Creative development activity included two songwriting camps delivered with Likkle Dotz OTB and Levi Yarde, and four rehearsal days with a live band at Talent House. Artists were offered three days of free studio access each; actual usage was lower, with seven studio days used in total, reflecting the fact that several participants accessed alternative studios during the programme.

Progression support was embedded throughout delivery. All participants completed initial information, advice and guidance (IAG) sessions and Individual Learning Plans (ILPs), which were used to structure mentoring, creative output and professional goals. Participants were also signposted into onward opportunities, including UD membership (studio access, masterclasses and events), a further Talent House writing camp with The Masterminds and Not3s, and consideration for Accelerator funding, with early recommendations made for selected artists.

Industry engagement was a core component of the programme. Two industry-facing showcases were delivered: one at The Great Escape Festival (Brighton) on 16 May 2024, and the Incubator Finale Showcase at Talent House as part of Industry Takeover on 27 September 2024, powered by TRENCH. Participants also accessed industry decision-makers through speed networking, panels and showcase invitations, reflecting UD's "bridge to industry" model.

All artists produced at least one demo during the programme. Programme support resulted in seven confirmed public releases, including singles and music videos by Allyson (My Dear), Maraché (Drummer Boy), Izzy Withers (Solve), J2 (What's Da Move), Skee (Don't Lack and EP visuals), TayoLoxs (I Love) and Zuko Rosemeid (Do Me a Favour).

What Was Achieved

Access

The Incubator programme met or exceeded all access targets. Ten artists were supported, meeting the cohort target, with 100% Global Majority participation (target: 70%) and 60% female/non-binary representation (target: 50%). The cohort reflects UD's strategic role as a national talent pipeline for Global Majority artists transitioning into professional markets.

Quality

Participant feedback demonstrated high levels of satisfaction with programme delivery. 88% of participants rated the industry bootcamp as excellent or good, and 100% of survey respondents scored 8-10/10 for likelihood to recommend the programme. Participants particularly valued the organisation and credibility of delivery, the depth of business learning (including PRS, PPL and rights knowledge), access to specialist expertise, real industry contacts and the peer cohort.

Learning for future cycles was captured through evaluation and feedback, including the need for clearer forward scheduling, more producer-specific content, increased practical studio time, and additional space for cohort bonding and collaboration.

Progression

Progression outcomes within the programme were strong. 80% retention was achieved, exceeding the 70% target. Exit interviews and mentoring reviews showed consistent gains in industry and business literacy (rights, royalties and routes to market), strategic planning (release campaigns, branding and marketing), confidence in networking and self-management, and clarity around career stage and next steps.

All participants demonstrated measurable growth across audience and platform metrics on social media and DSPs (including Instagram, Spotify, TikTok and YouTube), indicating improved market readiness and early fanbase development.

Beyond the programme, participants were transitioned into UD Membership to support sustained development through studio access, masterclasses and events. Next-stage investment readiness was identified for a number of artists, with Accelerator referrals in development and priority signposting emerging for Skye, Skee and J2. Several participants progressed into more sustainable working patterns or advanced their professional profile through releases, live sets, new industry relationships and clearer EP or mixtape trajectories.

Business, Industry and Partnerships

The programme achieved meaningful industry exposure and network-building outcomes. Seven artists showcased to a combined audience of approximately 250 people across The Great Escape and the Incubator finale, with opportunities offered to all ten participants. Artists reported new and ongoing professional relationships with managers, lawyers, publishers, A&R, promoters and marketing professionals, directly addressing barriers to market access for Global Majority talent.

Delivery reinforced UD's credibility with high-value industry partners, including WME, PRS, PPL, Sheridans, MMF, AIM, CD Baby and un:hurd, strengthening the organisation's strategic positioning as a trusted bridge between emerging talent and the professional music sector.

INDUSTRY TAKEOVER

What Was Delivered

During 2024/25, UD delivered an expanded Industry Takeover programme combining seminars, workshops and a large-scale conference designed to widen access to industry knowledge, networks and progression routes for young people interested in music careers.

A larger-than-planned series of 10 seminars, masterclasses and workshops was delivered between March and November 2024 (target: 6). These sessions included panels, creative workshops and business and legal activity. In addition, UD delivered a four-day Industry Takeover "All Dayer" conference at Talent House, co-curated with the Youth Steering Group and Media Team.

The All Dayer programme included 10 panel discussions, five masterclasses, structured one-to-one "Ask the Expert" networking sessions, two live events and showcases, and a marketplace-style careers and information, advice and guidance (IAG) space. Delivery was supported by a wide range of high-profile Black music leaders and partners, including BBC Music (1Xtra and Asian Network), Universal Music UK, PRS for Music, V&A East, POWER UP, TRENCH, Finesse Foreva, High Roller/No Signal, SoundCloud, Sony Music UK, AWAL, PPL, UTA, UK Music, Puma and others.

Content and amplification were built into delivery through multiple blog posts capturing key sessions, alongside ongoing social media coverage and Instagram highlights, extending reach beyond those attending in person.

Careers and enterprise progression was embedded throughout the programme. Sessions explicitly focused on demystifying roles within the music industry, outlining routes to entry and progression, and signposting participants into UD pathways including Level 4 provision, Incubator, membership/Elevator and Talent House studio access.

Programme quality was underpinned by co-curation with young people, with the Youth Steering Group and Media Team shaping content, speakers and format, and by industry-standard, culturally relevant programming centred on Black music culture, politics, trends and real-world career pathways.

Delivery was supported by a strong partnership model, bringing together labels, trade bodies, media organisations, agencies, managers, rights organisations and brands. Earned media and strategic visibility were achieved through partner amplification and a Music Week op-ed, alongside value-add partnerships secured at no cost to the programme, notably with TRENCH and Complex UK.

What Was Achieved

Access

Industry Takeover significantly exceeded participation targets, engaging 1,101 young people across seminars and the All Dayer conference (target: 600). This included 182 seminar registrations and 919 registrations for the four-day conference.

The programme achieved strong demographic reach, with 83% Global Majority participation (target: 70%) and 45% women and non-binary participants, just below the 50% target. 322 participants were under 25 (29%), below the original ambition for under-25 engagement, reflecting the programme's appeal to a broader cohort of emerging creatives at different career stages. 100% of survey respondents reported improved skills, confidence and/or aspiration, exceeding the 75% success measure.

Progression

Within the programme, progression outcomes were strong. In exit surveys, 100% of respondents reported that Industry Takeover developed their skills. The most commonly reported impacts included identifying new opportunities (48%), networking and meeting useful industry contacts (47%), gaining business and enterprise insight (45%), keeping industry knowledge up to date (39%), developing creative skills insight (31%) and increased confidence for a creative career (32%). Qualitative feedback highlighted increased clarity around career pathways, motivation, and feeling "opened up" to realistic routes into the industry through access to role models and decision-makers.

Beyond the programme, Industry Takeover continued to function as a key recruitment and progression gateway into UD's wider pipeline. Participants were signposted into Level 4 courses, the Incubator programme, membership/Elevator, Talent House studio access and further development opportunities.

Quality

Participant experience was rated highly. 97% of respondents rated Industry Takeover as excellent or good, with 70% rating it excellent. 90% scored likelihood to recommend at 8-10/10, including 62% giving a full 10/10. Partner feedback reinforced Industry Takeover's value as a rare space where young people can access high-quality industry knowledge, a credible and safe bridge into professional networks, and a visible talent pipeline for Black artists and young executives.

Business, Industry and Partnerships

Industry Takeover strengthened UD's position as a high-trust convenor for Black music culture and careers, evidenced by strong repeat partner engagement and public endorsement. The programme expanded and diversified UD's industry network, with major stakeholders participating across media, labels, rights organisations, agencies and brands.

A lasting content legacy was created through blogs, social assets and session formats that will support UD's programmes through 2025. Operational learning was captured through evaluation and SWOT analysis, identifying areas for improvement including earlier programming lead-times, streamlined speaker and communications processes, and improved audience survey flow, alongside opportunities for future sponsorship, travel bursaries, expanded curatorial partnerships and education links for the 25th-anniversary edition.

TALENT HOUSE COMMUNITY ENGAGEMENT

What Was Delivered

During 2024/25, UD delivered a year-long Talent House community engagement and membership programme designed to remove barriers to access, provide sustained use of professional facilities, and support progression for Black music creatives and small creative enterprises.

A subsidised 12-month Talent House membership scheme was delivered for 50 Black music creatives and SME start-ups, removing cost as a barrier to entry and enabling sustained engagement with industry-standard facilities and support. Members were provided with free studio access through a staffed rota operating three days per week (Tuesday, Thursday and Saturday) across three studios per day. In total, 459 half-day studio sessions were delivered to members, alongside additional access during downtime where available.

Programme content combined skills development, showcasing and tailored support. Fourteen masterclasses and seminars were delivered (target: 12), including panels, workshops and practical skills sessions. Twelve showcase and networking events were delivered (target: 4), significantly expanding opportunities for live presentation, peer connection and industry engagement. Members also accessed 13 one-to-one business and industry support sessions (target: 12), alongside additional in-house support, with continuity supported through monthly member newsletters and ongoing signposting.

Progression support was embedded throughout delivery. Members accessed tailored mentoring and expert surgeries covering A&R, publishing, legal matters, royalties, marketing, PR, digital strategy and business infrastructure. Clear pathways were maintained into other UD programmes and opportunities, including the Incubator, Free Yard, Emerging Artist Residencies, Youth Steering Group and Media Team roles and consideration for Accelerator funding.

Delivery was underpinned by an industry-led model, with sessions hosted by recognised specialists and partner organisations including PPL, PRS, Sheridans, un:hurd, AIM and Stellar Songs. Significant in-kind partner input enabled delivery to exceed targets while remaining on budget. Recruitment and referral were supported through a broad ecosystem spanning Music Hubs, youth services, FE colleges and London-wide partners, strengthening Talent House's role as both a local and national access hub.

What Was Achieved

Access

The programme reached its target cohort, with 50 members recruited, aligned to the intended demographic and geography. The cohort comprised 48 young adults aged 19-29 and two participants aged 17, with 35 Black/African/Caribbean/Black British participants, representing the majority of the group. Gender balance was achieved, with 24 female, 25 male and one non-binary participant.

Barrier removal was effective in practice. Subsidised membership funding directly enabled participation for high-potential creatives who could not afford standard commercial access, and supported the employment of a dedicated coordinator to deliver consistent engagement and support.

Quality

Participant satisfaction was high, with 88% rating the programme as excellent or good (target: 75%). Participants highlighted the credibility of industry input and the relevance of content to their real-world development as key strengths. Learning for future delivery was captured through feedback, including the need for more practical, hands-on workshops and clearer scheduling lead-times to help manage clashes with work and study commitments.

Progression

Progression within the programme was evidenced by strong retention and active use of resources, particularly studio take-up, with 459 sessions delivered and consistent attendance among engaged members. Studio access, mentoring and showcasing supported creative output and skills development, including multiple releases, videos and live performances. Members reported increased practical business knowledge across royalties, publishing, legal issues, marketing and routes to market, and applied this learning directly to their projects.

Beyond the programme, clear progression routes were realised. Members progressed into Incubator 2025, Emerging Artist Residencies (including recording singles), Free Yard and ongoing Talent House access, Youth Steering Group and Media Team roles, and Accelerator funding consideration, with initial recommendations noted. Employment and industry advancement were evidenced through tracking and case studies, including paid performance work, management arrangements, internships, live bookings and broader industry roles.

Business, Industry and Partnerships

The Talent House programme strengthened UD's position as an industry-credible centre for Black music talent and creative SMEs. The scale of showcases, masterclasses and partner input positioned Talent House as a visible access, development and recruitment route for both artists and industry partners. Repeated live networking and direct mentor contact increased sector connectivity for participants, leading to tangible opportunities such as airplay support, festival slots, management relationships, internships and commissions.

Learning from delivery informed future sustainability planning. Post-grant plans refine the Talent House offer into a model combining Free Yard open access, artist residencies and a lighter, regular community engagement programme from September 2025, shaped through youth consultation and evaluation.

FINANCIAL REVIEW

Financial position

The Statement of Financial Activities on page 18 shows net expenditure of £56,243 (2024 - £69,637).

This is primarily made up of depreciation of the Talent House capital asset (£68,890) and a net surplus balance of £12,647.

The cash flow statement indicates a break-even cash position. The main difference in donations is due to the transfer of the asset which was a one-off.

Reserves policy

The trustees have examined the requirement for free reserves i.e those unrestricted funds not invested in tangible fixed assets, designated for specific purposes or otherwise committed. The trustees consider that, given the nature of the charitable company's work, the level of reserves should be equal to approximately three months of expenditure.

The trustees are actively pursuing sources of funding in order to ensure that there are sufficient reserves to provide to financial stability and flexibility.

SUSTAINABILITY AND FUTURE RESILIENCE

The charity's focus over the coming period is on organisational sustainability and planned succession. We will continue to strengthen governance and leadership capacity, including the development of an expanded senior leadership team and the recruitment of additional trustees and advisers. Delivery capacity will be supported through a combination of employed staff and specialist consultants, alongside ongoing investment in professional development and effective people management. Financial sustainability will be underpinned by implementation of our three-year business and fundraising plan, which is aligned with our Arts Council England National Portfolio Organisation (ACE NPO) funding agreement in place to 31 March 2026, with a planned extension year for 2026/27. The plan aims to leverage our Talent House asset in order to support a balanced and diversified income mix across public, voluntary and earned sources, grow turnover, and build reserves towards a target of approximately twelve weeks of operating costs. These measures are intended to ensure the charity remains resilient, representative of the communities it serves, and well placed to deliver its charitable objectives over the longer term.

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document

UD Music Foundation is a Charitable Company limited by guarantee and is a registered Charity. It is governed by its Memorandum and Articles of Association, adopted on 16 May 2012.

TRUSTEES AND MANAGEMENT

UD Music Foundation is a Black-led organisation governed by a Board of Trustees who are also directors of the company for the purposes of the Companies Act 2006. The Board provides strategic leadership, oversight of financial performance and risk, and ensures compliance with charitable and company law. Day-to-day operations are delegated to the executive team, led by the Chief Executive Officer.

TRUSTEES

The trustees bring a broad and complementary range of skills and lived experience, encompassing the Black and independent music industries, global brands, charity and social enterprise leadership, legal and governance expertise, and diversity and inclusion. The Board is chaired by Dr Anne-Marie Imafidon MBE, a technologist, CEO and author, and co-founder of Stemettes, an award-winning social initiative supporting young women into STEM careers.

Trustee expertise includes senior leadership roles across legal, financial services, music industry governance and cultural production. Trustees during the year were:

Dr Anne-Marie Imafidon MBE (Chair) - CEO & Co-Founder of Stemettes, with extensive experience in technology, education, leadership and social impact.

Danny Pamma - Head of Legal (EMEA & APAC) at Visible Alpha, with prior legal counsel experience across multiple organisations in the City.

Ella Mbaeri - EMEA Head of Compliance at Morgan Stanley, bringing senior-level regulatory and governance expertise.

Gee Davy - Chief Operating Officer and Head of Legal & Business Affairs at the Association of Independent Music (AIM), leading organisational operations and sector-wide policy work.

Joseph Henry - Designer, urbanist and curator advocating for equity in the built environment through policy and cultural production. During the year, Joseph served as Director of Cultural Planning for the City of Boston and Assistant Professor at Columbia GSAPP.

Lisa Buchan - A senior brand and partnerships specialist with over 20 years' experience in marketing, commercial partnerships, entertainment marketing, PR and event activations, working with global brands, agencies and cultural change-makers.

The Board meets regularly and operates under a formal governance framework, including reserved matters, financial controls and risk management processes. Trustees are supported by external professional advisers where required and maintain oversight of organisational performance, safeguarding, equality, diversity and inclusion, and long-term sustainability.

STAFF AND MANAGEMENT

UD is led by a small, experienced staff team with deep sector knowledge and a strong track record in delivering complex programmes at scale.

Pamela McCormick MBE (Chief Executive Officer and Founder) co-founded UD in 2000 with the ambition of creating a leading organisation for identifying and supporting Black music talent in the UK. Pamela provides strategic leadership across artistic direction, organisational development and fundraising. Her work is underpinned by a commitment to equal opportunities, cultural relevance and sector change. Pamela has received sector recognition for her contribution to music and social impact, including Music Week Women in Music Campaigner of the Year and the Music Producers Guild Special Achievement Award.

External evaluation and organisational review by Nikki Shepperd identified UD's core capabilities as including:

long-standing experience working with diverse communities, with participant cohorts typically comprising 70%+ Black young people;

the ability to deliver complex projects at scale;

respected and skilled leadership, supported by an active and engaged Board;

lean and effective management, enabling responsive decision-making and efficient project delivery;

strong UK-wide industry partnerships and brand recognition among funders, industry and participants; and

the integration of stakeholder voice throughout the project cycle.

UD continues to recruit creative experts and artist practitioners with both industry experience and teaching credentials, strengthening the quality and relevance of delivery.

UD'S APPROACH: CO-DESIGNING WITH YOUNG PEOPLE

UD's approach to programme design and delivery is grounded in co-design with young people and is structured to optimise engagement, relevance and impact. Delivery is informed by participant need, responding to young people's identities, experiences and interests. Programmes are led by expert practitioners, ensuring high-quality, industry-relevant work connected to professional music careers, and are supported by partnerships across the music industry and community sector to amplify reach and add value.

Delivery is anchored at Talent House, providing industry-standard facilities and resources that support professional development and raise aspirations.

UD has an established model for co-designing change that particularly benefits young people who are underrepresented or who may feel they do not have a voice. In practice, this involves listening carefully to young people's ideas and feedback, testing how sessions and project plans can be improved, and revising delivery where possible. Where change is not feasible, constraints are explained transparently. Young people are supported to put their own ideas into practice and are encouraged to contribute to planning and delivery activity, using their experiences, creativity and imagination to shape change.

Youth voice is embedded through UD Creatives (Youth Steering Group). The group comprises six young people with high levels of participation across UD's events and programmes and plays a structured role in informing programme evaluation and continuous improvement. UD Creatives convene monthly meetings and maintain an ongoing WhatsApp group to support discussion and contribution.

FUNDERS AND PARTNERS

UD Music Foundation benefits from a wide network of UK-wide partnerships across music, education and the creative industries. The organisation has developed long-standing music education partnerships, including with local Music Hubs and the University of East London (UEL), alongside relationships with National Portfolio Organisations such as East London Dance, Create Define Release and Music for Youth. UD also works closely with major record labels, including Sony Music UK, Universal Music UK and Warner Music UK, and with UK Music members and music industry trade bodies.

These include AIM (Association of Independent Music), BPI (British Phonographic Industry), MMF (Music Managers Forum), MPG (Music Producers Guild) and PPL (Phonographic Performance Ltd), who support UD's work through development funding, in-kind mentoring, professional expertise and work experience opportunities for underrepresented artists and workforce entrants.

UD has been a National Portfolio Organisation (NPO) of Arts Council England since 1999. In 2022, the organisation was invited to join an expanded National Youth Music Organisation (NYMO) cohort, co-funded by Arts Council England and the Department for Education, recognising UD's role as a nationally significant pipeline for nurturing Black music practitioners. UD is also a Talent Development Partner within the national network convened and funded by the PRS Foundation.

During the year, UD received support from a range of trusts, foundations and corporate partners, including:

Arts Council England

Awards for All

Brit Trust

Converse

Esmée Fairbairn Foundation

The Foyle Foundation

Garfield Weston Foundation

Paul Hamlyn Foundation

PRS Foundation (Talent Development Partner)

Sony Social Justice Fund

The trustees record their sincere thanks to all funders and partners for their continued financial and in-kind support, which enables UD to deliver its charitable objectives and sustain high-quality provision for young people.

Induction and training of new trustees

New trustees undergo an orientation day to brief them on their legal obligations under charity and company law, the Charity Commission guidance on public benefit, content of the Memorandum and Articles of Association, the decision-making process, the business plan and recent financial performance of the charity. During the induction day, they meet key employees and other trustees. Trustees are encouraged to attend appropriate external training events where these will facilitate the undertaking of their role.

Related parties

Urban Development Limited provided services that were essential to the delivery of the projects and activities that UDMF requires to effectively pursue its stated purposes. These resources and services included Urban Development Limited's property, music studios and equipment and staff and a development of a property that was taken over by UDMF. The services were provided on a cost recovery basis or in-kind.

During the year, all the assets, liabilities and activities were transferred from Urban Development to UDMF and Urban Development will become dormant.

REFERENCE AND ADMINISTRATIVE DETAILS

Registered Company number

08071972 (England and Wales)

Registered Charity number

1149090

Registered office

Units 19-20 Bourne Court

Southend Road

Woodford Green

Essex

IG8 8HD

Trustees

Lord V O Adebowale Director (appointed 6.3.25) (resigned 16.10.25)

Dr A O Imafidon MBE Chair of Trustees

Ms G Davy

Ms M Mbaeri

Mr J Henry

Ms L Buchan

Mr H Pamma

Independent Examiner

Raffingers Holdings Limited

Chartered Accountants

19-20 Bourne Court

Southend Road

Woodford Green

Essex

IG8 8HD

Solicitors

CMS Cameron McKenna Nabarro Olswang LLP

Cannon Place,

78 Cannon Street

London

EC4N 6AF

Bankers

Barclays Bank

Whitechapel Branch

Business Banking

Leicester LE87 2BB

Approved by order of the board of trustees on 23 December 2025 and signed on its behalf by:

Dr A O Imafidon MBE - Trustee

Independent examiner's report to the trustees of UD Music Foundation ('the Company')

I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 March 2025.

Responsibilities and basis of report

As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').

Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under Section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under Section 145(5) (b) of the 2011 Act.

Independent examiner's statement

Since your charity's gross income exceeded £250,000 your examiner must be a member of a listed body. I can confirm that I am qualified to undertake the examination because I am a member of the Institute of Chartered Accountants in England and Wales, which is one of the listed bodies.

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:

1.	accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or

2.	the accounts do not accord with those records; or

3.	the accounts do not comply with the accounting requirements of Section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination; or

4.

the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)).

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

Thurairatnam Sudarshan, FCCA

Raffingers Holdings Limited

Chartered Accountants

19-20 Bourne Court

Southend Road

Woodford Green

Essex

IG8 8HD

23 December 2025

2025

2024

Unrestricted

Restricted

Total

Total

fund

funds

funds

funds

Notes

£

£

£

£

INCOME AND ENDOWMENTS FROM

Donations and legacies

2

9,613

-

9,613

5,711

Charitable activities

4

Charitable Activities

688,396

64,773

753,169

809,441

Investment income

3

74

-

74

322

Total

698,083

64,773

762,856

815,474

EXPENDITURE ON

Raising funds

Raising donations and legacies

5

83,661

1,665

85,326

99,440

83,661

1,665

85,326

99,440

Charitable activities

6

Charitable Activities

683,546

50,227

733,773

785,671

Total

767,207

51,892

819,099

885,111

NET INCOME/(EXPENDITURE)

(69,124

)

12,881

(56,243

)

(69,637

)

RECONCILIATION OF FUNDS

Total funds brought forward

1,964,551

51,767

2,016,318

2,085,955

TOTAL FUNDS CARRIED FORWARD

1,895,427

64,648

1,960,075

2,016,318

CONTINUING OPERATIONS

All income and expenditure has arisen from continuing activities.

2025

2024

Notes

£

£

FIXED ASSETS

Tangible assets

12

2,169,849

2,232,687

CURRENT ASSETS

Debtors

13

94,126

136,000

Cash at bank

4,469

465

98,595

136,465

CREDITORS

Amounts falling due within one year

14

(123,789

)

(141,464

)

NET CURRENT ASSETS

(25,194

)

(4,999

)

TOTAL ASSETS LESS CURRENT LIABILITIES

2,144,655

2,227,688

CREDITORS

Amounts falling due after more than one year

15

(184,580

)

(211,370

)

NET ASSETS

1,960,075

2,016,318

FUNDS

18

Unrestricted funds:

General fund

1,895,427

1,964,551

Restricted funds

64,648

51,767

TOTAL FUNDS

1,960,075

2,016,318

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 in accordance with Section 476 of the Companies Act 2006.

The trustees acknowledge their responsibilities for

(a)	ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.

These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.

The financial statements were approved by the Board of Trustees and authorised for issue on 23 December 2025 and were signed on its behalf by:

Dr A O Imafidon MBE - Trustee

Cash flows from operating activities

Cash generated from operations

1

47,531

21,355

Interest paid

(10,759

)

(12,454

)

Net cash provided by operating activities

36,772

8,901

Cash flows from investing activities

Purchase of tangible fixed assets

(6,052

)

8,922

Interest received

74

322

Net cash (used in)/provided by investing activities

(5,978

)

9,244

Cash flows from financing activities

Loan repayments in year

(26,790

)

(27,585

)

Net cash used in financing activities

(26,790

)

(27,585

)

Change in cash and cash equivalents in the reporting period

4,004

(9,440

)

Cash and cash equivalents at the beginning of the reporting period

465

9,905

Cash and cash equivalents at the end of the reporting period

4,469

465

1.	RECONCILIATION OF NET EXPENDITURE TO NET CASH FLOW FROM OPERATING ACTIVITIES

2025

2024

£

£

Net expenditure for the reporting period (as per the Statement of Financial Activities)

(56,243

)

(69,637

)

Adjustments for:

Depreciation charges

68,890

68,390

Interest received

(74

)

(322

)

Interest paid

10,759

12,454

Decrease in debtors

45,393

11,847

Decrease in creditors

(21,194

)

(1,377

)

Net cash provided by operations

47,531

21,355

2.	ANALYSIS OF CHANGES IN NET DEBT

At 1.4.24

Cash flow

At 31.3.25

£

£

£

Net cash

Cash at bank

465

4,004

4,469

465

4,004

4,469

Debt

Debts falling due after 1 year

(211,370

)

26,790

(184,580

)

(211,370

)

26,790

(184,580

)

Total

(210,905

)

30,794

(180,111

)

1.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) '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) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Income

All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.

Expenditure

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.

Governance costs

Governance costs which comprise the costs directly attributable to the governance of the charity, including audit costs and the necessary legal procedures for compliance with statutory requirements, are allocated directly to the charitable activities to which they relate.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery

-

20% on cost

Fixtures and fittings

-

20% on cost

Website and logo

-

20% on cost

Computer equipment

-

20% on cost

Assets under construction are not depreciated until the work is completed and the assets are in use by the charity.

Taxation

The company is considered to pass the tests set out in Sch. 6, para. 1 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the company is potentially exempt from taxation in respect of income or capital gains received within categories covered by Pt. 11, Ch. 3 of the Corporation Tax Act 2010 or s. 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes.

Fund accounting

Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.

Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.

Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.

Pension costs and other post-retirement benefits

The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.

Debtors

Debtors are recognised at their settlement amount, less any provision for non-recoverability. Prepayments are valued at the amount prepaid.

Cash at bank and in hand

Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

Creditors and provisions

Creditors are recognised when there is an obligation at the balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of settlement can be estimated reliably.

Financial instruments

The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments.

Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value except for bank loans which are subsequently measured at the carrying value plus accrued interest less repayments. The financing charge to expenditure is at a constant rate calculated using the effective interest method.

2.	DONATIONS AND LEGACIES

2025

2024

£

£

Donations

9,523

5,621

Gift aid

90

90

9,613

5,711

3.	INVESTMENT INCOME

2025

2024

£

£

Deposit account interest

74

322

4.	INCOME FROM CHARITABLE ACTIVITIES

2025

2024

Activity

£

£

Grants

Charitable Activities

378,985

329,337

Trusts and foundations

Charitable Activities

171,000

208,703

Corporates

Charitable Activities

73,897

104,948

Earned

Charitable Activities

129,287

166,453

753,169

809,441

Grants received, included in the above, are as follows:

2025

2024

£

£

Arts Council England

359,337

329,337

5.	RAISING DONATIONS AND LEGACIES

2025

2024

£

£

Marketing

72,177

86,466

Development and fundraising costs

13,149

12,974

85,326

99,440

6.	CHARITABLE ACTIVITIES COSTS

Direct

Support

Costs (see

costs (see

note 7)

note 8)

Totals

£

£

£

Charitable Activities

479,398

254,375

733,773

7.	DIRECT COSTS OF CHARITABLE ACTIVITIES

2025

2024

£

£

Staff costs

260,547

265,640

Programme marketing costs

8,407

19,079

Other programme costs

33,485

27,767

Project management

58,669

43,932

Artists', tutors' and mentors' fees

118,290

184,980

479,398

541,398