## **THE INTERNATIONAL ORGAN FESTIVAL SOCIETY LIMITED**
**(COMPANY LIMITED BY GUARANTEE)**
**FINANCIAL STATEMENTS FOR THE YEAR ENDED 30TH SEPTEMBER 2023**
**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 2023.
## 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 a Collins organ installed in St Saviour’s Church St Albans. As reported at the 2022 and 2023 AGMs, the Vicar and PCC of St Saviour’s Church have given notice for the removal of the IOF organ as there are plans to restore the parish organ and create a more flexible space. Due to the parlous state of the IOF organ, after over 30 years of use, it would need major costly renovations to return it to prime playable condition. The Board is currently engaged in seeking a new home and owner for the organ. 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.
Our latest Festival was held in July 2023. The previous Organ Competition, in 2021, was conducted online due to prevailing Covid restrictions on travel and close contact. In 2023, we were delighted to be able to present the complete Organ Competition at venues within St Albans and London and with all competitors staying with local hosts. Although costs were much higher due to inflation, we managed them stringently and kept within budget, however ticket sales were 13% lower than we had expected, reflecting the impact of cost-of-living increases on audience members’ household budgets, perhaps. Festival donations were an impressive £142,000 (2021: £79,547) and members of our Supporters’ Scheme more than doubled their contribution to £91,023 (2022: £41,575; 2021: £56,317), for which the IOF Board is extremely grateful. However, despite this, there was an overall deficit during the year of £16,760 (2022: £10,817 surplus; 2021: £ £9,857 deficit).
Saturday concerts have continued to be well-received by attendees but have made a loss this year of £5,358 (2022: £1,219 deficit). We are taking what steps we can to run the recital series as costeffectively as possible without diminishing quality and retaining their free entry for the public. However, hotel, travel, fees and venue hire costs have all increased due to higher rates of inflation and post-Covid price increases.
Administration costs for the year increased to £97,349 (2022: £85,828). This was due to extra office accommodation costs arising from decoration and refurbishment of the IOF office building exterior, instigated by the landlord, an increase in general costs during a Festival year and the general uplift in prices, due to inflation in the economy.
The Society is grateful for major donations received from The Williams Church Music Trust, The Champniss Foundation, The Kirby Laing Foundation, The Alan Brentnall Charitable Trust, The Wixamtree Trust, The Eric Thompson Trust, The Foyle Foundation, Old Possum’s Practical Cats, The Gretna Charitable Trust, the MT & SD Burton Charitable Trust and to all other trusts, sponsors, including St Albans BID, and individuals for their generous financial support this year.
The Society remains indebted to many 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 and Organ Competition planned for July 2025.
Page 2
## **THE INTERNATIONAL ORGAN FESTIVAL SOCIETY LIMITED**
## **REPORT OF THE DIRECTORS (Continued)**
## 2. **RESULTS**
The Company made an overall deficit of £16,760 (2022: £10,817 surplus; 2021: £9,857 deficit) during the year under review. Consequently, Total Funds now stand at £26,310 (2022: £47,020; 2021: £36,203). This is made up of General Reserves of £20,860 (2022: £37,620; 2021: £26,803 and Designated Funds which have decreased to £5,450 (2022 and 2021: £9,400).
## 3. **DIRECTORS**
Directors who served during the year were: -
James Blake Rogers Covey-Crump Colin Hamling Michael Hurford Lesley King Heather Smith 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: -
- Select suitable accounting policies and apply them consistently;
- Make judgements and estimates that are reasonable and prudent;
- Follow applicable accounting standards, subject to any material departures disclosed and explained in the financial statements;
- Prepare the financial statements on a going concern basis unless it is inappropriate to presume that the Company will continue in business.
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 £20,860 on the General Fund, resulting in an overall balance sheet of £26,310 in respect of total funds.
## 8. **RISK MANAGEMENT**
The trustees have recently refreshed the IOF’s Risk Assessment and 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 17 January 2024 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 2023**
|Notes
£
INCOME
General
2
125,503
Festival/QPJC*
4
195,122
Bank interest
51
______
EXPENDITURE
General
2
19,328
Administration
3
97,349
Festival/QPJC*
4
220,489
______
Operating (Deficit)/Surplus
__
Before Depreciation
Depreciation
(Deficit)/Surplus for the year
11|2023
£
£
108,410
62,105
12
______
320,676
11,620
85,828
62,105
______
337,166
_______
(16,490)
270
_____
(16,760)|2022
£
170,527
159,553
_______
10,974
157
_____
10,817|
|---|---|---|
The notes on pages 8 to 13 form part of the financial statements.
* QPJC refers to the Queen’s Platinum Jubilee Concert which was a one-off event, organised as the Hertfordshire Lieutenancy’s celebration of the 70[th] anniversary of HM the late Queen’s reign. All income and expenditure were recognised in the 2022 accounts.
Page 5
## **THE INTERNATIONAL ORGAN FESTIVAL SOCIETY LIMITED**
## **STATEMENT OF FINANCIAL ACTIVITIES (including income and expenditure account) FOR THE YEAR ENDED 30 SEPTEMBER 2023**
|_Unrestricted Funds_
Notes
2023
**Income**
£
Income from charitable activities:
Festival/QPJC income
195,122
Organ concerts income
7,680
Fund raising events
-
Grants, sponsorship and donations
108,003
Other income:
Subscriptions
5,600
Sundry Income
-
Bank Interest
51
Lottery Income
4,220
Total Income
320,676
**Expenditure**
£
Costs of raising funds:
Festival/QPJC expenditure
4
220,489
Organ concerts expenditure
13,037
Fund raising expenditure
6,291
Sundry Expenditure
Expenditure on charitable activities
Depreciation
270
Management and Administration of the Charity
A
97,349
_______
Total Expenditure
3
337,436
Net (deficit)/surplus and movement in funds for the
Year
11
(16,760)
Net (Reduction) to Designated Funds
11
(3,950)
Balances brought forward at 1st October 2022
47,020
______
Balances carried forward at 30th September 2023
26,310|2022
£
62,105
8,401
-
89,952
5,752
-
12
4,300
170,527
£
62,105
9,620
1,852
148
157
85,828
_______
159,710
10,817
-
36,203
______
47,020|
|---|---|
|||
**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 2023**
|Notes
£
FIXED ASSETS
Tangible Assets
7
CURRENT ASSETS
Debtors and Prepayments
8
17,287
Cash at Bank
9
17,677
______
34,964
CREDITORS: amounts falling
due within one year
10
(9,036)
______
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|2023
£
£
382
16,020
39,481
______
55,501
(9,133)
______
25,928
______
26,310
20,860
3,550
1,400
500
0
______
26,310|
|2022
£
652
46,368
______
47,020
37,620
4,000
2,400
500
2,500
______
47,020|
|---|---|---|---|
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 2023 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 17 January 2024 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 turbulent economy, demonstrates the need to obtain additional new sources of funding and to continue to actively manage 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 2023.
## **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|2023
£
5,100
93,484
16,235
6,464
4,220
125,503
19,328
______
19,328|2022
£
5,257
82,952
8,877
7,024
4,300
108,410
11,620
______
11,620|
|---|---|---|
|||
|
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
-
19,328
Depreciation
-
270
Administration & management
15,042
82,307
15,042
101,905
**4. FESTIVAL/QPJC/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
**5.**
**NET INCOME**
This is stated after charging:
Depreciation
Examiners’ Remuneration|Staff costs
Other
costs
£
£
-
19,328
-
270
15,042
82,307||2023
Total
£
19,328
270
97,349|2022
Total
£
11,620
157
85,671
97,448
2022
**£**
17,478
-
-
-
15,500
29,127
-
-
62,105
25,845
1,396
-
12,787
56
615
317
2,829
994
-
2,115
455
-
14,696
62,105
2023
£
270
1,135|2021
**£**
44,081
714
1,036
5,542
-
79,547
-
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
2022
£
157
1,081|
|---|---|---|---|---|---|
||15,042
101,905||116,947|||
||||2023
**£**
41,656
2,759
1,933
2,918
2,190
142,364
-
1,302
195,122
55,845
12,089
70,155
46,281
77
11,979
2,510
4,956
1,166
-
4,868
4,259
5,568
736
220,489|||
|||||||
|||||||
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|2023
£
15,042
-
15,042
43,500
58,542|2022
£
11,149
-
11,149
40,000
51,149|
|---|---|---|
Transactions with Directors and other related parties: Consultancy Fees of £43,500 (2022: £40,000) have been paid to Xdiem Limited, a company controlled by the Artistic Director. No remuneration was paid to the other Directors of the Board.
During the year, two directors were reimbursed expenses totalling £3,832 (2022: £8,598); Artistic Director Expenses £2,061; C Hamling £1,771 of reimbursements which are mainly payments relating to IT costs.
There is one employee (2022: 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 2022
Additions
Cost at 30thSeptember 2023
DEPRECIATION
Balance at 1st October 2022
Depreciation to 30thSeptember 2023
Balance at 30th September 2023
Net Book Value at 30th September 2023
Net Book Value at 30th September 2022|Equipment
Organ
Total
£
£
£
809
-
809
-
-
-|
|---|---|
||809
-
809|
||157
-
157
270
-
270|
||427
427|
||382
-
382|
||652
-
652|
Page 11
## **THE INTERNATIONAL ORGAN FESTIVAL SOCIETY LIMITED**
## **NOTES TO THE ACCOUNTS (Continued)**
|**8. DEBTORS AND PREPAYMENTS**||**2023**|**2022**||
|---|---|---|---|---|
|||_£_|_£_||
|
Debtors||-|7,751||
|Prepayments||17,288|8,269||
|||17,288|16,020||
|**9. CASH AT BANK**|||||
|||2023|2022||
|||£|£||
|Current Accounts||17,669|39,473||
|Deposit Accounts||8|8||
|||_____|_____||
|||17,677|39,481||
|**10. CREDITORS amounts falling due within one year**|||||
|||2023|2022||
|||£|£||
|Other Creditors||9,037|9,133||
|||____|____||
|||9,037|9,133||
|**11. RECONCILIATION OF ACCUMULATED FUNDS**|||||
||Unrestricted||Restricted|Total|
||General|Designated|Funds|Funds|
||Funds|Funds|||
||£|£|£|£|
|At 1st October 2022|37,620|9,400|-|47,020|
|Movement in the year|(16,760)|(3,950)|-|20,710|
|Transfers between funds|-|-|-|-|
|Balance at 30th September 2023|20,860|5,450|-|26,310|
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 £3,550 and is used to fund a competition prize during Festival years.
## **PETER HURFORD PRIZE FUND**
This fund stands at £1,400 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**
In 2021, 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 was created. The fund was allocated to expenses incurred during the year ending 30 September 2023, whilst creating the new Improvisation Competition rounds and in support provided to the competitors during their preparation and subsequent performances.
## **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 2023 the charity was committed to making the following payments under non-cancellable leases in the year to 30 September 2023:
||2023|2022|
|---|---|---|
||£|£|
|Operating leases which expire:|||
|In over five years|0|0|
## **15. TAXATION**
The company considers it is entitled to exemption from corporation 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 2023 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:
- 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 next statement.
## **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 2011; and
- to prepare accounts which accord with the accounting records and comply with the accounting requirements of the 2011 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.
Accountancy and Business Improvement Ltd Suite 5b, The Oast House Mead Lane Farnham Surrey GU9 7DY
Date: 17 January 2024
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