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2021-09-30-accounts

THE INTERNATIONAL ORGAN FESTIVAL SOCIETY LIMITED

(COMPANY LIMITED BY GUARANTEE)

FINANCIAL STATEMENTS FOR THE YEAR ENDED 30TH SEPTEMBER 2021

Company Number: 02644149 Charity Number: 1006151 COMPANY INFORMATION

Registered Office 33 High Street
St. Albans
Hertfordshire
AL3 4EH
Business Address PO Box 80
St Albans
Hertfordshire
AL3 4HR
Examiners Accountancy and Business Improvement Ltd
Suite 5b, The Oast House
Mead Lane
Farnham
Surrey
GU9 7DY
Bankers COIF Charities Deposit Fund
80 Cheapside
London
EC2V 6DZ
Barclays Bank plc
Blenheim Gate
22/24 Upper Marlborough Road
St Albans
Herts
AL1 3AL
CAF Bank
25 Kings Hill Avenue
Kings Hill
West Malling
Kent
ME19 4QJ

Page 1

THE INTERNATIONAL ORGAN FESTIVAL SOCIETY LIMITED

REPORT OF THE DIRECTORS

The Directors (who have also been appointed Trustees under the provisions of the Charities Act 2011) submit their annual report and the unaudited financial statements of the Company for the year ended 30 September 2021.

1. PRINCIPAL ACTIVITY

The Company is a registered charity. The Charity number of the Society is 1006151 and its Company number is 02644149. The Society is a company limited by guarantee whose affairs are managed by a Board of Directors elected at General meetings of the Society. Members of the Board, which meets regularly during the year, have individual responsibility for different aspects of the Society’s affairs. The Society owns an organ installed in St Saviour’s Church St Albans used for competition, recital and practice purposes. The Society also owns office equipment.

In setting out objectives and planning our activities our Trustees have given careful consideration to the Charity Commission’s general guidance on public benefit. The principal objective of the Society is to advance and encourage the use of the organ as a musical instrument.

Covid-19 has affected everyone enormously and continues to create uncertainty and confusion. The Board took the decision to go ahead with the 2021 Festival, based on assumptions of the restrictions that would be in place during July. Fortuitously, they decided to hold the Interpretation Competition online and to engage UK performers to reduce the impact of any travel restrictions. All events were held in St Albans Cathedral. Despite the audience for all events being capped at 50%, in line with Covid regulations, the Competition and Festival were an artistic success and the small overall deficit of £9,857 (2019 £13,202) was remarkable given the reduced capacities.

The Supporters Scheme, introduced in 2015, has continued to attract supporters in all categories, and this year has generated income including gift aid of £56,317 (2020: 52,765), which is much appreciated, especially during the Covid pandemic. The Board remains focussed on increasing the uptake of the Supporters Scheme to meet the objective of having annual pledged income to cover a significant proportion of operational costs.

Administration costs for the year increased to £78,962 (2020: £69,032). 2020 costs were lower due to continued focus on cost management, a temporary rent reduction and reduced activity in response to Covid-19 restrictions. When compared to Administration costs during the last Festival Year (2019: £89,209) it is evident that we continue to keep a tight rein on day-to-day operating costs.

Due to Covid, only one Saturday concert was able to be held in the year under review. Consequently, the organ concert series generated a deficit of £1,380 (last year a deficit of £2,424), taking account of donation income, costs, and associated Gift Aid.

The Society is grateful for major donations received from The Williams Church Music Trust, The Wixamtree Trust, The Kirby Laing Foundation, The Alan Brentnall Charitable Trust, The Champniss Foundation and to all other sponsors, trusts and individuals for their generous financial support during this challenging year. We were successful in our application to HM Government's Covid Discretionary Grant Fund for small businesses, administered through St Albans City & District Council, and received £12,244 during the financial year. The Society remains indebted to a large number of people for their voluntary help in all aspects of the organising of the society, its recitals and events.

There has been no change in the activities of the society, with the next biennial Festival, celebrating the IOF's 60th anniversary, planned for July 2023.

Page 2

THE INTERNATIONAL ORGAN FESTIVAL SOCIETY LIMITED

REPORT OF THE DIRECTORS (Continued)

2. RESULTS

The Company made an overall deficit of £9,857 (2020: £34,135 surplus; 2019: £13,202 deficit) during the year under review. Consequently, General Reserves now show a surplus of £26,803 (2020: £36,660; 2019: £2,525). Designated Funds have increased to £9,400 (2020: £8350).

3. DIRECTORS

Directors who served during the year and in the period to date were: -

James Blake (appointed November 2021) Rogers Covey-Crump Stephen Hamill (resigned April 2021) Colin Hamling Michael Hurford Lesley King Heather Smith (appointed May 2021) David Titterington

4. POLITICAL AND CHARITABLE CONTRIBUTIONS

No political or charitable contributions were made during the year.

5. DIRECTORS RESPONSIBILITIES

Company law requires the Directors to prepare audited or examined financial statements for each financial year which give a true and fair view of the state of affairs of the Company and the profit and loss of the Company for that period. In preparing these financial statements, the Directors are required to: -

The Directors are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the Company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the Company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

In the year under review, the directors exercised the option to have the accounts examined independently, as per the previous year.

So far as the Directors are aware, there is no relevant audit information of which the company’s examiners are unaware, and they have taken all the steps that they ought to have taken as directors in order to make themselves aware of any information relevant to the examination and to establish that the company’s examiners are aware of that information.

Page 3

THE INTERNATIONAL ORGAN FESTIVAL SOCIETY LIMITED REPORT OF THE DIRECTORS (Continued)

6. APPOINTMENT OF TRUSTEES

The Trustees are appointed annually by rotation at the Annual General Meeting of the company. New Trustees are proposed by the Board or by members of the Society, and the Board may co-opt Trustees between Annual General Meetings. Induction training is provided for all new Trustees, where appropriate, and all Trustees are encouraged to attend courses and conferences that would benefit them as Trustees.

7. RESERVES POLICY

The Directors consider that the aim of the Society should be to create reserves sufficient to fund the normal net running costs of the Society for a period of four months and the net cost of a major Festival.

At the year-end there is a surplus of £26,803 on the General Fund, resulting in an overall balance sheet of £36,203 in respect of total funds.

8. RISK MANAGEMENT

The trustees continue to keep the Society’s activities under review, particularly with regard to any major risks that may arise from time to time. The major risks identified by this process have been mitigated to an acceptable level by internal control systems and other factors as appropriate.

9. REPORT

This report is prepared in accordance with the special provisions relating to small companies within Part 15 of the Companies Act 2006.

Approved by the Board on 11 January 2022 and signed on their behalf.

Lesley King Chairman

Colin Hamling Director & Competitions Secretary

Page 4

THE INTERNATIONAL ORGAN FESTIVAL SOCIETY LIMITED

INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 30TH SEPTEMBER 2021

Notes
£
INCOME
General
2
80,128
Festival
4
132,606
Bank interest
0
__

EXPENDITURE

General
2
2,866
Administration
3
78,962
Festival
4
140,763
____

Operating (Deficit) / Surplus
_
Before Depreciation


Depreciation
(Deficit)/Surplus for the year
11		 2021
£
£
106,099
0
4
__
212,734
7,539
69,032
(4603)
_
222,591
_
(9,857)
-
____
(9,857)
2020
£
106,103
(71,968)
_
34,135
______
34,135

The notes on pages 8 to 13 form part of the financial statements.

Page 5

THE INTERNATIONAL ORGAN FESTIVAL SOCIETY LIMITED

STATEMENT OF FINANCIAL ACTIVITIES (including income and expenditure account) FOR THE YEAR ENDED 30 SEPTEMBER 2021

Unrestricted Funds
Notes
2021
Income
£
Income from charitable activities:
Festival income
132,606
Organ concerts income
630
Fund raising events
-
Grants, sponsorship and donations
68,583
Other income:
Subscriptions
6,595
Sundry & AGM Income
0
Bank Interest
0
Lottery Income
4,320
Total Income
212,734
Expenditure
£
Costs of raising funds:
Festival expenditure
4
140,763
Organ concerts expenditure
2,010
Fund raising expenditure
856
Expenditure on charitable activities
Depreciation
-
Management and Administration of the Charity
A
78,962
_

Total Expenditure
3
222,591
Net (deficit)/surplus and movement in funds for the
Year
11
(9,857)
Net Increase/Reduction to Designated Funds
11
1,050
Balances brought forward at 1st October 2020
45,010
______
Balances carried forward at 30th September 2021
36,203		 2020
£
0
4,488
-
90,290
6,561
440
4
4320
106,103
£
(4,603)
6,912
627
-
69,032
_
71,968
34,135
-
10,875
______
45,010

_

A. Management and Administration of the Charity includes the remuneration of the Artistic Director, the professional fees and expenses paid for general management, the accommodation costs of the society’s office, the costs of newsletters, promotion and general office costs – see note 3.

CONTINUING ACTIVITIES

None of the charity’s activities was acquired or discontinued during the above two financial years.

The charity has no recognised gains or losses other than the result for the above two financial years.

The notes on pages 8 to 13 form part of these financial statements.

Page 6

THE INTERNATIONAL ORGAN FESTIVAL SOCIETY LIMITED

BALANCE SHEET AT 30 SEPTEMBER 2021

Notes
£

FIXED ASSETS
Tangible Assets
7
CURRENT ASSETS
Debtors and Prepayments
8
19,596
Cash at Bank
9
33,040
__
52,636
CREDITORS: amounts falling
due within one year
10
(16,433)
____
NET CURRENT ASSETS

TOTAL ASSETS LESS LIABILITIES
FUNDS OF THE CHARITY
General Unrestricted Reserves
11
Designated Douglas May Prize Fund
12
Designated Peter Hurford Prize Fund
12
Organ Repair Fund
12
Designated Improvisation Fund
12

TOTAL CHARITY FUNDS		 2021
£
£

-
12,731
33,454
__
46,185
(1,175)
_
36,203

36,203
26,803
4,000
2,400
500
2,500
___
36,203


2020
£
-
45,010
__
45,010
36,660
4,450
3,400
500
-
____
45,010

The notes on pages 8 to 13 form part of the financial statements.

For the financial year in question the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

No members have required the company to obtain an audit of its accounts for the year ended 30 September 2021 in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibility for complying with the provisions applicable to companies subject to small companies’ regime.

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies’ regime.

The financial statements were approved by the Board on 11 January 2022 and signed on its behalf by:

Lesley King

Colin Hamling

Page 7

THE INTERNATIONAL ORGAN FESTIVAL SOCIETY LIMITED

NOTES TO THE ACCOUNTS

1. ACCOUNTING POLICIES

a) Accounting Convention

The financial statements have been prepared under the historical costs convention and in accordance with the FRS 102 (effective 1 January 2016) and the Statement of Recommended Practice, "Accounting and Reporting by Charities" effective January 2015.

The Charity has taken advantage of the exemption in FRS102 from the requirement to produce a cash flow statement on the grounds that it is a small Charity.

b) Recognition of Income and Expenditure

All income is included in the SoFA when the charity is legally entitled to the income and the amount can be qualified with reasonable accuracy.

All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs to the category. Where costs cannot be directly attributed to particular headings, they have been allocated to activities on a basis consistent with those resources.

c) Going Concern

Based on past performance, and the cyclical nature of the organisation’s activities, the society’s forecasts and projections indicate that the society should be able to continue to operate at its existing level for the foreseeable future. However, the directors acknowledge that they are dependent on the continued support of the society’s many donors and that the potential shortfall in donations and potential restrictions on future Festival income, due to the Covid-19 pandemic, demonstrates the need to obtain additional new sources of funding and to continue to put downward pressure on expenditure in order to achieve that.

On this basis the directors are satisfied that the society has adequate resources to continue its operational existence for the foreseeable future. Thus, they continue to adopt the going concern basis of accounting in preparing these financial statements.

Page 8

THE INTERNATIONAL ORGAN FESTIVAL SOCIETY LIMITED

NOTES TO THE ACCOUNTS (Continued)

Fund Accounting

General funds are unrestricted funds which are available for use at the discretion of the trustees in furtherance of the general objectives of the charity and which have not been designated for other purposes.

Designated funds comprise restricted funds that have been set aside by the trustees for specific purposes. The aim and use of each designated fund are set out in the notes to the financial statements.

Depreciation of Fixed Assets

Fixed assets are depreciated on the straight-line basis over their expected useful lives. The rates of depreciation used are: -

Office (IT) equipment

33%

Debtors

Other debtors are recognised at the settlement amount due. Prepayments are valued at the amount prepaid after consideration of any trade discounts offered.

Creditors and provisions

Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in a transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.

Financial instruments

The charity only has financial assets and financial liabilities of a kind that qualifies as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value statements.

Repayment of income tax

Repayment of income tax on Gift Aid, covenanted donations and subscriptions has been received in respect of amounts paid to the Society under deduction of tax up to 30 September 2021.

2. GENERAL

Income

Subscriptions
Donations, Sponsorship and Grants
Tax from covenanted subscriptions and Gift Aid
Organ Concerts, Fund raising and Sundry Income
Lottery Income
Total Income
Expenditure
Organ Concerts and Fund raising
_
 2021
£

5,843
58,469
10,977
519
4,320
80,128
2,866
_____
2,866		 2020
£
5,751
80,446
11,190
4,392
4,320
106,099
7,539
______
7,539

Page 9

THE INTERNATIONAL ORGAN FESTIVAL SOCIETY LIMITED

NOTES TO THE ACCOUNTS (Continued)

3. ANALYSIS OF TOTAL RESOURCES EXPENDED

Staff costs
Other
costs
£
£
Costs of generating funds
-
2,866

Depreciation
-
-
Administration & management
11,042
67,920
11,042
70,786
4.FESTIVAL
Income
Ticket Sales
Programmes
Competitors Fees
Art Exhibition
Advertising Revenue
Donations
Bar and Catering Receipts
Other Income
Total Income
Expenditure

Artists Fees
Instruments, Scores & Tuning
Competition Costs
Venue and Equipment Hire
Printing and Postage
Publicity and Advertising
Catering and Hospitality
Programme and Brochure Costs
Performing Rights
Bar Costs
Box Office Costs
Service Fees
Art Exhibition
Other Expenditure
Total Expenditure**		 Staff costs
Other
costs
£
£
-
2,866
-
-

11,042
67,920		 2021
Total
£
2,866
78,962		 2020
Total
£
2,936
-
69,032
71,968
2020
£
-
-
-
-
-
-
-
-
-
(2,561)
-
(2,042)
-
-
-
-
-
-
-
-
-
-
-
(4,603)		 2019
£
39,122
1,924
2,287
3,157
6,855
79,529
264
1,544
134,682
36,480
13,650
41,296
26,893
698
8,405
945
11,144
2,032
344
4,192
3,810
3,392
-
153,281
11,042
70,786		 81,828
2021
£
44,081
714
1,036
5,542
0
79,547
0
1,686
132,606
49,488
8,785
19,635
33,896
-
10,564
674
2,236
1,291
269
5,005
2,586
6,334
-
140,763

** The figure of negative £4.603 in 2020 is due to the accrued costs from 2019 not materialising.

This is stated after charging:
Depreciation
Examiners’ Remuneration		 2021
£
-
1,050		 2020
£
-
1,050
  1. NET INCOME

Page 10

THE INTERNATIONAL ORGAN FESTIVAL SOCIETY LIMITED

NOTES TO THE ACCOUNTS (Continued)

6 .

INFORMATION ON DIRECTORS AND EMPLOYEES

Staff Costs
Wages and Salaries
Social security costs
Directors Emoluments
Remuneration
Total Remunerations		 2021
£
11,042
-
11,042
36,000
47,042		 2020
£
9,393
-
9,393
29,666
39,059

Transactions with Directors and other related parties:

Consultancy Fees of £36,000 (2020: £29,666) have been paid to Xdiem Limited, a company controlled by the Artistic Director. Included in Debtors is £1,125, relating to an Art Exhibition purchase by the Artistic Director; this sum has now been received. No remuneration was paid to the other Directors of the Board.

During the year, two directors were reimbursed expenses totalling £2,222 (2020: 1708; 2019: £6,501); Artistic Director Expenses £922; C Hamling £1,300, which are payments relating to IT costs.

There is one employee (2020: one), A Dixon, the Society’s Administrator.

No employees had emoluments in excess of £60,000.

7.TANGIBLE FIXED ASSETS
COST
Cost at 1st October 2018
Additions
Cost at 30thSeptember 2019
DEPRECIATION
Balance at 1st October 2018
Depreciation for the year
Balance at 30th September 2019
Net Book Value at 30th September 2019
Net Book Value at 30th September 2018		 Equipment
Organ
Total
£
£
£
12,368
84,338
96,706
-
-
-
12,368
84,338
96,706
12,368
84,338
96,706
-
-
-
12,368
84,338
96,706
-
-
-
-
-
-

Page 11

THE INTERNATIONAL ORGAN FESTIVAL SOCIETY LIMITED

NOTES TO THE ACCOUNTS (Continued)

8.DEBTORS AND PREPAYMENTS

Debtors
Prepayments

9.CASH AT BANK
Current Accounts
Deposit Accounts

10.CREDITORSamounts falling due within one year
Other Creditors		 2021
£
10,906
8,690
19,596
2021
£
33,032
8
_
33,040
2021
£
16,433
_ __
16,433		 2020
£
0
12,731		 2020
£
0
12,731


12,731

2020
£
33,448
6
_____
33,454
2021
£
1,175
_____
1,175
  1. RECONCILIATION OF ACCUMULATED FUNDS
Unrestricted
Restricted
General
Designated
Funds
Funds
Funds
£
£
£
At 1st October 2020
36,660
8,350
-
Movement in the year
(9,857)
1,050
-
Transfers between funds
-
-
-
_
_
______

Balance at 30th September 2021
26,803
9,400
-		 Total
Funds
£
45,010
(8,807)
-
_
36,203

Page 12

THE INTERNATIONAL ORGAN FESTIVAL SOCIETY LIMITED

NOTES TO THE ACCOUNTS (Continued)

12. DESIGNATED FUNDS:

DOUGLAS MAY PRIZE FUND

The Douglas May Prize fund stands at £4,000, and is used to fund a competition prize during Festival years.

PETER HURFORD PRIZE FUND

This fund stands at £2400, and exists to secure the future of the Peter Hurford Prize for the best Bach interpretation.

ORGAN REPAIR FUND

Donated sums in the year of £0; fund total of £500 towards future repairs of the Society’s Organ.

IMPROVISATION FUND

The Eric Thompson Trust donated £2500 to support a Workshop for Improvisation performers to hone their skills and to introduce a new format to the Improvisation Competition. Due to Covid, the Improvisation Competition was not held in 2021, so this fund has been created to preserve the donation for an Improvisation Workshop before the 2023 Competition.

13. LEGAL STATUS OF THE CHARITY

The charity is a company limited by guarantee and has no share capital. The liability of each member in the event of winding up is limited to £1.

14. FINANCIAL COMMITMENTS

At 30 September 2021 the charity was committed to making the following payments under non-cancellable leases in the year to 30 September 2021:

2021 2020 £ £ Operating leases which expire: In over five years 0 0

15. TAXATION

The company considers it is entitled to exemption from income tax under Section 505 Income and Corporation Taxes Act 1988 as it was established for charitable purposes only.

Page 13

INDEPENDENT EXAMINER’S REPORT TO THE MEMBERS OF THE INTERNATIONAL ORGAN FESTIVAL SOCIETY LIMITED

Independent Examiner's Report to the trustees

I report on the accounts of the charity for the year ended 30 September 2021 which are set out on pages 5 to 13.

Respective responsibilities of trustees and examiner

The trustees are responsible for the preparation of the accounts. The trustees consider that an audit is not required for this year under section 144(2) of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed.

It is my responsibility to:

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 next statement.

Independent examiner's statement

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

have not been met; or

Accountancy and Business Improvement Ltd Suite 5b, The Oast House Mead Lane Farnham Surrey GU9 7DY

24[th] December 2021

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