2024-12-31-accounts - The World Trust

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FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 FOR THE WORLD TRUST

THE WORLD TRUST Year ended 31 December 2024

Legal and Administrative Details

The Trust was established under its governing trust deed on 15 May 1991 and registered with the Charity Commission (registration number 1003265) on 26 June 1991. The Trust’s primary purpose is to promote, improve, develop and maintain public education in and appreciation of music and in particular musical works for orchestra and other ensembles. This purpose is fulfilled primarily through the staging of an annual music festival in and around Ripon, North Yorkshire. As a consequence, the Trust’s working name is Ripon International Festival.

In addition to its musical aims the Trust also exists to promote any charitable purposes throughout the world and in particular the advancement of education, the protection and preservation of health and the relief of poverty, disability and sickness.

Address of charity: The Festival Office Holly Howe Copt Hewick Ripon North Yorkshire Telephone: 01765 605508 Email: pastorale@gmx.com Web site: www.riponinternationalfestival.org President: Sir Derek Jacobi Vice president: Barrie Price Patrons: The Archbishop of York The Marquess of Zetland Dame Judy Kelly CBE Trustees: Mrs Stephanie Bell MA Mr Michael Brook Mr Martin Clark MA Eng Baroness Cox - Chairman Mrs Elizabeth Burton-Phillips MBE Artistic Director: Janusz Piotrowicz Director: Susan Goldsbrough

THE WORLD TRUST Year ended 31 December 2024

Legal and Administrative Details (cont’d)

Bankers: NatWest Bank Plc 3 Cambridge Crescent Harrogate Leeds Building Society 12 Oxford Street Harrogate Barclays Bank Plc Independent Examiner: Robert Horner BA FCA Crown Chambers Princes Street Harrogate

THE WORLD TRUST Year Ended 31 December 2024

Report of the Trustees

The Trustees report that the Financial Statements as at 31 December 2024 are in the format required by 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 (known as Charities SORP (FRS102)).

Objects of the Trust

These are set out on page 1 under Legal and Administrative Details.

Policies and Structures of the Trust

Ultimate responsibility for the Trust’s management rests with the Trustees who hold regular meetings to direct the aims and objectives of the Trust with regard to fulfilling its primary purpose. However, the trustees delegate the day to day administration of the trust to the Trust Director Mrs Susan Goldsbrough and Janusz Piotrowicz, as Artistic Director, who are responsible for artistic policy of the Trust.

New trustees are selected by the current trustees if it is felt that the individuals concerned can contribute to the Trust. Any new trustees are fully briefed as to the Trust’s aims and their duties as trustee.

The Trustees who were in office during the year were as follows:-

Mrs Stephanie Bell MA Mr Michael Brook Mr Martin Clark MA Eng Baroness Cox - Chairman Mrs Elizabeth Burton-Phillips MBE

The trustees have considered the induction and training requirements of trustees and ensure ongoing training needs are met.

Review of the Financial Statements for the Year

The financial statements show a surplus of £1,910. Reserves at the end of the period were £38,968. The trustees consider this to be satisfactory given the current economic climate in which obtaining funding is becoming increasingly difficult.

Risk Management

The Trustees are continually assessing the major risks to which the Trust is exposed, in particular, those related to the operations and finances of the Trust, and mitigate exposure to the major risks.

THE WORLD TRUST Year Ended 31 December 2024

Report of the Trustees

(cont’d)

Reserves Policy

The Trustees consider that a reasonable target for reserves is for reserves to at least equal the costs of running the Ripon International Festival for one year after deducting income received from external ticket sales. Thus, even if donations, grants and sponsorship disappeared completely, the Ripon International Festival could be planned and funded for one year. However, the trustees are constantly searching for additional funding to secure the long-term future of the Trust.

Public Benefit

The Trustees confirm that they have complied with their duty to have due regard to the Charity Commission’s guidance on public benefit when exercising their powers or duties.

Summary of Main Achievements

In the 26[th] year of Ripon International Festival we maintained Partnerships with the Young Classical Artists Trust, Ripon Library and the Little Ripon Bookshop and developed a new association with the National Trust which provided a concert room at Fountains Hall.

Ripon Cathedral was the setting for a concert by Royal Northern Sinfonia, conducted by Janusz Piotrowicz, of two of the greatest works in the classical repertoire: Beethoven’s violin concerto - soloist Tamsin Waley-Cohen - and Tchaikovsky’s Fifth symphony – a magnificent performance deeply appreciated by a full house; and Holy Trinity Church Ripon was packed for the Brighouse & Rastrick Band.

Rural Outreach performances took place in Markenfield Hall: two concerts by Duo Dorado, violin and harpsichord; St. Andrew’s Church, Kirkby Malzeard: Louise Thomson, harp; St. Mary’s Church Masham: The Atéa Wind Quintet. We presented four concerts at St. John’s Church, Sharow: ZRI classical/gypsy quintet, The Busch Piano Trio from Amsterdam, Quatuor Agate string quartet from Paris and Janusz Piotrowicz piano recital.

Fountains Hall at Fountains Abbey was the setting for a recital by Shu Jiang on Chinese Zithers. As always, the level of musicianship throughout the festival was exemplary. Helperby Millennium Hall hosted the Folk Trio Leveret and Ripon Library provided the location for a fascinating talk by the historian and writer Phillippa Langley. The Team of Volunteers created the duty roster and provided expertise and generous commitment in setting up, managing front of house, refreshments, door sales, distribution of publicity and many other tasks.

Artistic and Social Vision

The Festival aims are to inspire audiences of all ages and circumstances with first-class performance of classical music, including provision of symphony concerts and chamber music, which are the cornerstones of the festival. Also, the best of folk, world music, drama and writers, the wide variety giving the festival its distinctive character and atmosphere.

THE WORLD TRUST Year Ended 31 December 2024

Report of the Trustees

(cont’d)

Finance

Sponsors were Ripon Select Foods, who have generously supported for over 25 years, The Coulthurst Trust, Lithgow Perkins LLP, Booths, Lishman Sidwell Campbell & Price and the Festival Friends who also provided hospitality for visiting artists. The trustees consider that our modest reserves are sufficient to carry the enterprise forward given that our administrative outlay is small, but we need to significantly increase this reserve to give security in future.

Signed: Baroness Cox Chairman of the Trustees

THE WORLD TRUST Year Ended 31 December 2024

Statement of Trustees’ Responsibilities

Charity law requires the Trustees to prepare financial statements for each financial year, which give a true and fair view of the state of affairs of the charity and of its financial activities for that period and adequately distinguish any material special trust or other restricted fund of the charity. In preparing those financial statements, the Trustees are required to:-

1 select suitable accounting policies and then apply them consistently;
2 make judgements and estimates that are reasonable and prudent;
3 state whether the policies adopted are in accordance with the appropriate SORP on Accounting Regulations and with applicable accounting standards, subject to any material departures disclosed and explained in the financial statements; and
4 prepare the financial statements on the going concern basis unless it is inappropriate to assume that the charity will continue in business.

The Trustees are responsible for keeping proper accounting records which disclose, with reasonable accuracy at any time, the financial position of the charity and enable them to ensure that the financial statements comply with applicable Accounting Statements of Recommended Practice and the regulations made under S144 of the Charities Act 2011. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud or other irregularities.

THE WORLD TRUST Year Ended 31 December 2024

Independent Examiners’ Report to the Trustees of The World Trust

Independent examiner's report to the trustees of The World Trust

I report on the accounts of the Trust for the year ended 31 December 2024, which are set out on pages 8 to 12.

Respective responsibilities of trustees and examiner

The charity's trustees are responsible for the preparation of the accounts. The charity's trustees consider that an audit is not required for this year under section 144 of the Charities Act 2011 (the Charities Act) and that an independent examination is needed.

It is my responsibility to:

examine the accounts under section 145 of the 2011 Act;
to follow the procedures laid down in the general Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act; and
to state whether particular matters have come to my attention.

Basis of independent examiner's report

My examination was carried out in accordance with the general Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and consequently no opinion is given as to whether the accounts present a 'true and fair view' and the report is limited to those matters set out in the statement below.

Independent examiner's statement

In connection with my examination, no matter has come to my attention:

(1) which gives me reasonable cause to believe that in any material respect the requirements:

to keep accounting records in accordance with section 130 of the Charities Act; and
to prepare accounts which accord with the accounting records and comply with the accounting requirements of the Charities Act
have not been met; or

(2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.

Robert Horner BA FCA Crown Chambers Princes Street Harrogate

Date: 22 August 2025

THE WORLD TRUST Year Ended 31 December 2024

Statement of Financial Activities

Income and endowments from: Donations Sponsors Ticket sales Programmes & refreshments Interest received Income tax repaid Total Income Expenditure on: Charitable activities Artists’ fees & expenses Hall & instrument hire Marketing Hospitality Bank & box office charges Programmes & refreshments Performing Rights Society Governance costs Administrators’ expenses Computers & stationery Postage Telephone & internet Administration expenses Accountancy Insurance Depreciation Total Expenditure Net incoming/(outgoing) resources for the year Net movements in investments. Net movement in funds Total funds at 1 January 2023 Total funds at 31 December 2023	Unrestricted Restricted Total Funds Funds 2024 £ £ £ 3,495 - 3,495 35,550 - 35,550 34,606 - 34,606 2,678 - 2,678 425 - 425 1,241 - 1,241 77,995 - 77,995 45,700 - 45,700 5,908 - 5,908 4,722 - 4,722 442 - 442 1,763 - 1,763 646 - 646 821 - 821 11,200 - 11,200 1,029 - 1,029 898 - 898 595 - 595 - - - 1,566 - 1,566 434 - 434 361 - 361 76,085 - 76,085 1,910 - 1,910 - - 1,910 1,910 37,058 37,058 38,968 - 38,968	Total 2023 £ 3,028 32,250 34,965 978 39 1,392
		72,652
		44,805 5,580 4,363 167 2,190 1,041 1,095 9,200 1,530 518 576 - 1,428 478 415
		73,386
		(734) -
		(734) 37,792
		37,058

THE WORLD TRUST Year Ended 31 December 2024

Balance Sheet

Fixed Assets Office & musical equipment at cost Depreciation as at 1 January 2022 Charge for the year Book value at 31 December 2022 Current Assets Bank accounts Stock Prepayments Bank account re Ripon International Festival Current liabilities Net Current Assets Net Assets Reserves As at 1 January 2024 Surplus/(Deficit) for year As at 31 December 2024	2024 2023 £ £ £ £ 9,746 9,602 (7,944) (7,529) (361) (415) 1,441 1,658 128 128 280 280 1,495 - 45,357 64,070 47,260 64,478 (9,733) (29,078) 37,527 35,400 38,968 37,058 Ripon The World International Trust Festival Total £ £ £ (note 2) 5,415 31,643 37,058 - 1,910 1,910 5,415 33,553 38,968	2024 2023 £ £ £ £ 9,746 9,602 (7,944) (7,529) (361) (415) 1,441 1,658 128 128 280 280 1,495 - 45,357 64,070 47,260 64,478 (9,733) (29,078) 37,527 35,400 38,968 37,058 Ripon The World International Trust Festival Total £ £ £ (note 2) 5,415 31,643 37,058 - 1,910 1,910 5,415 33,553 38,968	2024 2023 £ £ £ £ 9,746 9,602 (7,944) (7,529) (361) (415) 1,441 1,658 128 128 280 280 1,495 - 45,357 64,070 47,260 64,478 (9,733) (29,078) 37,527 35,400 38,968 37,058 Ripon The World International Trust Festival Total £ £ £ (note 2) 5,415 31,643 37,058 - 1,910 1,910 5,415 33,553 38,968
			37,058
			Total £ 37,058 1,910 38,968

The financial statements on pages 8 to 12 were approved by the Trustees on 22 August 2025 to confirm and signed on their behalf by:-

Signed: Baroness Cox Chairman of the Trustees

The notes on page 10 to 12 form an integral part of these accounts.

THE WORLD TRUST Year Ended 31 December 2024

NOTES TO THE FINANCIAL STATEMENTS

1 ACCOUNTING POLICIES

1.1 General

1.1.1 The financial statements have been prepared under the historical cost convention with the exception of investments, which are included on a market basis in accordance with 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 (known as Charities SORP (FRS102)).
1.1.2 These accounts have been prepared on an accruals basis.
1.1.3 The Trust is not registered for VAT and, therefore, VAT forms part of the Trust’s costs.
1.1.4 All income is recognised in the Statement of Financial Activities when the charity becomes entitled to the resources. This is generally when the income is received, except where stated below.
1.1.5 Sponsorship income is recognised in the period in which the sponsored event takes place.
1.1.6 Expenditure is charged to the Statement of Financial Activities when incurred.
1.2 Tangible Fixed Assets

These assets are included at cost less depreciation.

1.3 Depreciation

Tangible fixed assets are stated at cost and are depreciated by annual instalments over their expected useful live as follows:-

Office and musical equipment - 20% of written down value

1.4 Cash Flow statement

The Trust is exempt from the requirement to provide a cash flow statement on the grounds of its size.

1.5 Fund Accounting

General unrestricted funds compromise accumulated surpluses and deficits on general funds and the cumulative realised and unrealised gains on any investments. They are available for use at the discretion of the Trustees in furtherance of the Trust’s general charitable objectives. Restricted funds are created when donations are made for a particular area or purpose, the use of which is restricted to that area or purpose.

THE WORLD TRUST Year Ended 31 December 2024

Notes to the Financial Statements (cont’d)

2 The principal activity of the Trust is the staging of the Ripon International Festival. Included within the Financial Statements are the following amounts re Ripon International Festival.

Income Donations Sponsors Fund raising events Ticket sales Programmes & refreshments Interest received Income tax repaid Expenditure Programmes & refreshments Marketing Artists’ fees & expenses Hall & instrument hire Administrators’ expenses Computers & stationery Postage Telephone & internet Bank & box office charges Depreciation Hospitality Performing Rights Society Insurance Accountancy Surplus/(Deficit)	2024 £ 3,495 35,550 - 34,606 2,678 425 1,241 77,995 646 4,722 45,700 5,908 11,200 1,029 898 595 1,763 361 442 821 434 1,566 76,085 1,910	2023 £ 3,028 32,250 - 34,965 978 39 1,392
		72,652
		1,041 4,363 44,805 5,580 9,200 1,530 518 576 2,190 415 167 1,095 478 1,428
		73,386
		(734)

THE WORLD TRUST Year Ended 31 December 2024

Notes to the Financial Statements (cont’d)

3 The assets and liabilities included in the Trust’s balance sheet which relate to the Ripon International Festival are as follows:-

Fixed assets at cost Depreciation Stock Prepayments Bank account Building society account Cash in hand Total Assets Creditors Capital account 1 January 2024 Surplus/ (deficit) for the year Capital account 31 December 2024 Creditors Accruals Loan from The World Trust	2024 £ 7,777 (6,336) 1,441 280 1,495 21,625 23,466 266 48,573 (15,020) 33,553 31,643 1,910 33,553 2024 £ 9,736 5,284 15,020		2023 £ 7,632 (5,977)
			1,655 280 - 40,024 23,466 580
			66,005 (34,362)
			31,643
			32,377 (734)
			31,643
			2023 £ 29,078 5,284
			34,362