FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 DECEMBER 2025
FOR
THE WORLD TRUST

THE WORLD TRUST
Year ended 31 December 2025
Legal and Administratlve Details
The Trust was es12blished 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 educalion 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 musir21 aims the Trust also exists to promote any charitable purposes
throughout the world and in particular the advancement of education, the protection and
preserwalion 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@9mx.Gom
Web site..
www.riponinternalionalfestival.org
President..
Sir Derek Jacobi
Vice president..
Barrie Price
Patrons".
The Archbishop of York
The Marquess of Zetland
Dame Judy Kelly CBE
Tru5tees'.
Mrs Stephanie Bell MA
Mr Michael Br¢Jok
Mr Martin Clart( MA Eng
Baroness Cox - Chaimian
Mrs Elizabeth Burton-Phillips MBE
Mr Xin Yuan
Artistic Diredor=
Janusz Piotrowicz
Director..
Susan Goldsbrough

THE WORLD TRUST
Year endèd 31 Decemb8r 2025
Legal and Administrative Detalls {Gonl'd)
Natwest Bank PIC
3 Cambridge Crescent
Harrogate
Bankers..
Leeds BuiSding Society
12 Oxford Slreel
Harrogate
Independent Examiner".
Robert Horner BA FCA
Crown Chambers
Princes Street
Harrogate

THE WORLD TRUST
Year Ended 31 December 2025
Report of the Trustees
The Trustees report that the Financial Statements as at 31 December 2025 are in the formal
required by the Statement of Recommended Practice applicable lo charities preparing Iheir
.accoun15 in accordance with the Financial Reporting Standard applicable in the UK and
Republi¢ of Ireland (known as Charitses SORP (FRS102)1.
Objects of the Trust
These are set out on page 1 under Legal and Administrative Details.
Policies and Structures of Ihe Trust
Ultimate responsibility for the Trust's management ￿51$ wÈth 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 DireGlor Mrs Susan Goldsbrough and Janusz Piotrowcz, as Artistic Director. who are
responsible for artistic policy of the Trusl.
New trustees are selected by the current trustees if il is felt that the individuals concerned
can contribute lo 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:_
Mfs Slephanie Bell MA
Mr Michael Brook
Mr Martin Clark MA Eng
Baroness Cox - Chairman
Mrs Elizabeth Burion-Phillips MBE
Mr Xin Yuan
The trustees have Gonsidered the induction and training requirements of trustees and ensure
ongoing training needs are mel.
Revlew of the Financial Ststemenls for the Year
The financial statements show a deficit of £9. Reserves at the end of the period were
£38.959. The trustees consider this to be satisfactory given the Gurrenl economic climate In
whiGh obtaining funding is becoming increasingly difficult.
Risk Managèment
The Trustees are continually assessing the major risks to which the Trust is exposed, in
particular, those relateé lo the operations and fInan￿S of the Trust. and mitigate exposure to
the major risks.

THE WORLD TRUST
Year Ended 31 December 2025.
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 Internalional Festival for one year after deducting income
reGewed 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-lerm future of the Trust.
Publlc Benefit
The Trustees confirm that they have complied with their duty to have due regard to the
Charity Commission's guidance on public benefrt when exercising their powers or duties.
Summary of Maln Achievements
In the 27 year of Ripon International Festival we began with the Summer Celebrity ConGert
on 7° August by the Wihan Quartet playing two of the greatest works in chamber music
pertoire.- Schubert 'Death and the Maiden, and the Dvorak 'American'. The large audience
was deeply moved by the depth of sound and passion in their performance. The opening
concert of the Festival on 30tr August by the Orchestra of Opera North, conducted by Janusz
Piotrowicz, at Ripon Cathedral was a splendid occasion, gen9rating an ecstatic response
from a full house for Wagner Overture Tannhauser, Grieg Peer Gynl Suites 1 and 2 and
Dvcrak Symphony No. 9.
Rural Outreach perfomianc•s'. Johan Lofving and Yuwei Hu returned to Markenfield Hall
with an enchanting programme of Handel. Bach, Couperin and other gems in sold-out
concerts and Passacaglia Trio gave an engaging performance 'Jewels of the F￿nch
Baroque. at St. Mary's Church, Masham. We developed our association with Classical
Musicians Scotland, presenling lan Watt, classical guitar. al Sl. Nicholas Church. West
Tanfield and Andrea and Dgordje Gaji¢ violin and accordion, at Kirkby Malzeard. Young
musicians Trio Bohèmo, from Czech Republic. gave a dazzling perfomance of Dvorak,
Mendelssohn and Haydn at Sharow. Folk group. The Often Herd had a full house at
Fewston Church and Folk vocal quartet The Furrow Collective charmed the audience at
North Stainley. ZRI gave a slimulating perfomance of Janacek and gypsy Csardas hits, the
Londcn Revue Company was a h￿t with their new show 'Come Rain Come Shine., and the
Internationa1 Purves Puppets 'Aladdin' enchanted a lull house
of all agesl
at Bishop
Monkton village hall. The Flowers Band, National Champions and French Open Champion5.
demonstrated their refined musicianship at Holy Trinity Church. The Team of Volunteers
organised by Judith Kershaw proviéed expertise and generous commitment in setting up,
managing front of house, refreshments, door sales, distribution of brochures and many other
tasks.
As part of his mission to stimulate appreciation of classical music, Janusz Piotrowicz
undertook a piano recital lour to seven Scottish caslles. attracting a full house for each
concert. His travel expenses We￿ generously sponsored by The RannochTrust.
Artistic.and Social Vision
The Festival aims are to inspire audiences of all ages and circumstan￿5 with first-class
perfonnance of classical music, including provision of syrnphony concerts and chamber
music, which are the comer5tones of the festival. Also, the best of folk, world music, drama
and writers, the wide variety giving the festival ils distinctive chsraGter and atmosphere.

THE WORLD TRUST
Year Ended 31 December 2025
Report of Ihe Trustees
{cont'dl
Finance
Sponsors were Ripon Select Foods. Lrthgow Perkins LLP. both of whom have generously
supported for over 25 years. The Coulthur5t Trust, Booths. The Potter Group (Potter Space),
The W.W. Spooner Charitable Trust and Ihe Festival Friends who also provided hcspiiality
for visiting artists. The trustees consider that our modest reserves are sufficient lo carry the
enlerprise forward given that our administrative outlay is small, but we need to significantly
increase reseryes to give security in future.
Signed-
Baroness Cox
Chaifman of the Trustees

THE WORLD TRUST
Year Ended 31 December 2025
ststement ol Trustees, Responsibilities
Charity law requires the Trustees to prepare finanGial 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 Ihat period and adequately distinguish any material speaal trust or other
restricted fund of the charity. In preparing those financial statements, the Trustees are
required to'.-
selecl suitable accounting policies and then apply them consistently.,
make judgements and estimates that are reasonable and prudent.,
state whether the wlicies adopted are in accordanc£ wrth the appropriate SORP on
Accounting Regulations and with appliGable accounting standards, subject to any
material departures disclosed and explained in the financial statements- and
prepare the financial statements on the going GOn￿M basis unless it is inappropriate
to assume Ihat the charity will continue in business.
The Trustees are responsible for keeping proper arxounling records which disclose, with
reasonable accuracy at any lime. 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 detèction of fraud or other irregularrties.

THE WORLD TRUST
Year Ended 31 December 2026
Independent Examiners, Report to the
Trustses of The World Trust
Independent exarnlnerfs report to Ihe trustees of The World Trust
I report on the accounts of the Trust fof the year ended 31 December 2025, which are sel
out on pages 8 10 12.
Respective responsibilitles of trustèès and examiner
The charity's tnjstees are responsible for the preparation of the accounts. The chaflty's
trustees consider that an audit. is not required for this year under seGtion 144 of the Charities
Ad 2011 (the Charities AGt) and that an independent examination is needed.
It is my responsibility to..
examine the accounts under section 145 of the 2011 A¢t'.
to follow the procedures laid down in the general Directions given by the Charity
Commission under section 14515)(b} of the 2011 Act, and
to state whether particular matters have come to my attention.
Basis of independent examinerfs report
My examination was carried out in accordance wrth the general Directions given by the
Charity Commission. An examination includes a review of the accounting records kept by the
tharity and a companson of the accounts presented with tho$8 recoids. It also includes
consideration of.any unusual items or disclosures in the accounts, and seeking explanations
from you as trustees concerning any such malters. The prO￿d￿re$ 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 'lrue 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 examinalion. no matter has come to my attention..
111 which gives me reasonable cause to believe that in any material respect the
requirements..
to keep aGGounting records in aGcofdance with section 130 of the Charities Act., and
to prepare aGcounts which accord with the accounting records and Comply with the
accounling iequiremenls of the Charities Act
have not been rnet". or
12) to which, in my opinion, attention should be drawn in order to enable a proper
understanding of the accounts to be reached.
Ro
Horner BA FCA
Crown Chambers
Pnnces Street
Harrogate
Date. 30 July 2026

THE WORLD TRUST
Year Ended 31 DeGember 2025
Statement ol Financial Actlvities
Unrestricted Restncted
Funds
Funds
Total
2025
Total
2024
Incomè and endowments Irom:
Donations
Sponsors
Ticket sales
Programmes & refreshments
3,470
27,450
36,631
1.488
3,470
27,450
36.631
1.488
3,495
35,550
34,606
2,678
Interest re￿iVed
Income lax repaid
(425)
1.386
(4251
1,386
425
1,241
Total Income
70,000
70,000
77,995
Expenditure on:
Charitable activities
Artists. fees & expenses
Hall & instrument hire
Marketing
Hospitality
Bank & box office charges
Programme$ & refreshments
Performing Rights Society
Governan￿ costs
Administrators, expenses
Computers & stationery
Postage
Telephone & intemet
ArKountancy
Insurance
Depreciation
46,164
5,694
3,307
837
1,751
755
46,164
5,694
3,307
837
1,751
755
45.700
5.908
4,722
442
1.763
646
821
6,250
1,448
644
457
1,680
733
289
6.250
1,448
644
457
1,680
733
289
11,200
1,029
898
595
1.566
434
361
Total Expenditure
70,009
70,009
76,085
Net Incomin￿(OulgQing} resources for the
year
Nel movements in investments.
19}
(9)
1.910
Net movement in funds
(9)
(9)
1,910
Total funds at 1 January 2025
37.058
Total funds at 31 December 2025
38,959
38,959
38,968

THE WORLD TRUST
Year Ended 31 Decgmber 2025
Balance Sheet
2025
2024
Fixed Assets
Office & rnusical equipment at cost
Depreciation as at 1 January 2025
Charge for Ihe year
9.746
18,3051
289
9,746
{7,944)
Book value at 31 De￿mber 2025
1,152
1.441
Current Assets
Bank accounts
StoGk
Prepayments
Bank account re Ripon Intemational
Festival
128
280
128
280
1,495
45,357
40,887
41.295
3.488
47.260
9.733
Current liabilities
Net Current Assets
37,807
Net Assets
38,959
38,968
Reseryes
Ripon
International
Festival
The World
Trust
Tolal
{note 21
As at 1 January 2025
SurplusllDeficit) for year
5,415
33.553
38,968
As at 31 December 2025
5,415
33,544
38.959
The financial statements on pages 8 to 12 were approved by the Trustees on 30 July 2026
to confirm and signed on their behalf by:"
Signed-.
Baroness Cox
Chairman of the Trustees
The notes on page 10 10 12 form an integral part of these accounts.

THE WORLD TRUST
Year Ended 31 December 2025
NOTES TO THE FINANCIAL STATEMENTS
ACCOUNTING POLICIES
Genèral
1.1.1 The financial slatements have been prepared under the historical cost convention
wittt the exGeption af investments. which are inc5uded on a market basis in
2ccordanGe 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.
1.1.2 These accounts have been prgpared on an arxruals basis.
1.13 The Trust is not registered for VAT and, therefore, VAT foms part of the Trust's
G05ts.
1.1.4 All income is reGognised 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 ￿cOgnIsed in the period in which the sponsored event takes
place.
1.1.6 Expenditu￿ is charged to the Statement of Financial Activities when incurred.
Tangible Fixed Assets
These assets are included at cost less deprecialion.
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 wnlten down value
Cash Flow slatement
The Trust is exempt from the requirement to provide a cash flow statement On the
grounds of its size.
Fund Accounting
General unrestricted funds compromise accumulated surpluses and deficits on
general funds and th8 cumulalive realised and unrealised gains On any investments.
They are available for use at the discretion of the Trustees in furtherance of the
Trusl's general charitable objectives. Restricted funds are created when donats'ons
are made for a particular area or purpose. the use of which is ￿Stricted to that area
or purpose.
io

THE WORLD TRUST
Year Ended 31 Decernber 2025
Notes to the Financial Stalements (cont'd)
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
Inlernational Festival.
2025
2024
Income
Donalions
Sponsors
Fund raising events
Ticket sales
Programme5 & refreshments
Interest received
Income tax repaid
3,470
27,450
3.495
35,550
36,631
1,488
1425)
1.386
34,606
2,678
425
Expenditure
Programmes & refreshments
Marketing
Artists, fees & expenses
Hall & instrument hire
Administrators, expenses
Computer5 & Stationery
Postage
Telephone & internet
Bank & box office charges
Depreciation
HospitaSily
Perforrning Righls Society
Insuran
Accountancy
755
3.307
46,164
5,694
6,250
1,448
644
457
1,751
289
837
4,722
45.700
5,908
11,200
1.029
898
595
1,763
361
442
821
434
1.566
733
1,680
70.009
76,085
SurplusllDeficitl
{9)
1,910

THE WORLD TRUST
Year Ended 31 December 2025
Notes to the Financial Statements {cont'd)
The-as5ets and liabilities included in the Trust's balance Sheet which relate to the
Ripon International Festival are as follows',-
2025
2024
Fixed assets at cost
Depreciation
7.777
7,777
1,152
280
1,441
280
1,495
21,625
23,466
266
Stock
Prepaymenls
Bank account
Building society account
Cash in hand
17,324
23,466
Total Assets
Creditors
42,316
8.772
48.573
15,020
33,544
33,553
Capital account 1 January 2025
Sufplusl Idefiat) for the year
33,553
31,643
Capital account 31 December 2025
33,544
33,553
2025
2024
Creditors
Accruals
Loan from The World Trust
3,488
5,284
9,736
5,284
8,772
15,020
12