Company Number: 2852295
Charity Number: 1032421
Cambridge Music Festival Limited
(a company limited by guarantee)
Report and Fxnancial Statements
For the year ended 31 March 2024

Cambridge Music Festival Limited
Contents
Page
Company Information
Report of the Trustees
Independent Examiner's Report
Statement of Financial Activities
Balance Sheet
10
Notes to the Financial Statements
11-13

Cambridge Music Festival Limited
Reference and Administrative Details
Trustees
Nicholas Bewes
Jon Gisby
Adam Greenwood-Byrne
Caroline Stenner (Chair)
Nicky Ivebb
Elizabeth Winter (appointed 20 June 2024)
Festival Director
Justin Lee
Regsstered Office
42 City Road
Cambridge
CBI IDP
Charity Registration Number
1032421
Company Registration Number
2852295
Accountants
N.TRUST Accountancy Ltd
Suite 3a Kings Hall
St Ives Business Park
Parsons Green
St Ives
PE27 4WY
Independent Examiner
AB Accountancy Ltd
57A Great Fen Road
Soham
CB7 5UH

Cambridge Music Festival Limited
Report of the Trustees
For the year ended 31 March 2024
The Trustees present their report and accounts for the year ended 31 March 2024.
Objectives and Activities
The company is a registered charity established to promote, improve, develop and
maintain public education in and appreciation of the art and science of music by the
presentation of public concerts, recitals, events for young people and by such other means
as the Trustees shall detennine from time to lime. The beneflts of these activities are
enjoyed by people in the City of Cambridge and the surrounding area together with
members of the University of Cambridge.
Public Benefit
The Trustees have considered the Charity Commission's general guidance on Public
Benefit when reviewing their aims and objectives and in planning future activities. In
particular, the Trustees consider how planned activities will contribute to the aims and
objectives set.
Review of the year and future plans
As CMF emerged from Covid-19 in 2021, it adopted an open schedule of concerts in
the autLunn and spring. This allowed more flexibility not only in the event of short-
terni cancellations but in enabling broader artistic options, which also led to increased
ticket sales. Given this artistic and financial success, CMF continues to promote
events broadly in October/November and February/March each season, and ticket
sales have increased again in the 2023124 season.
However, since Covid, it is also true to say that annual donations and corporate
sponsorship have fallen by approximately ttventy-five percenL making CMF more
reliant on a separate emergency ftmd provided by a generous long-terni donor.
Developing sources of private Éncome remains a priority if CMF is to continue
presenting inspiring events by some of the world's greatest artists.
These accounts report a small loss of £1,078 for the year. Reserves have reduced to
£45,67), a level that is still in line with the charity's Reserves policy.
The 2023124 accounts show a turnover of just over £180k compared to £220k in
2022123. However. this does not ￿llY reflect CMF, s activity foi the year since three
projects were presented in partnership with King's College (Conccrts at King's) and
one of these eventually went through the Coll¢ge's books. Take this into account and
the year's level of activity is equivalent to a tLirnover of over £220k, similar to the
previous year.
The parÈn¢rship witb King's College and in particular the support of their director of
music, Daniel Hyde, has been invaluable in bringing to fruition ambitious Festival
projects that are especially powerful when perfomied in King's College Chapel.

Cambridge Music Festival Limited
Report of the Trustees continued
For the year ended 31 March 2024
Review of the year and future plans continued
The events at King's College were among the higblights of the year. Daniel Hyde
conducted two of these: first, a perfonnance of Haydn's Creation for which the Choir
of King's College was joined by the Choir of New College Oxford and the
Philhannonia Orchestra. seconilly, a project devised by the Festival Director (with
v￿uable programme suggestions from Daniel Hyde and Jonathan Manners of the
BBC) to mark the tenth anniversary of the death of the composer, Sir John Tavener.
For the Tavener concerL the BBC Singers (buoyed by the BBC'S decision to reverse
its plan to disband the group) were joined by cellist Natalie Clein for a varied
programme that combined works by Tavener with composers he knew or who were
importallt to him - influences such as Messiaen and Tippett sat alongside music from
his schoolfriend, John Rutter, and a fornier pupil, Judith Weir, Master of the King's
Music. Lady Tavencr, Sir John RutteT and Dame Judith Weir were all present at the
concert which was broadcast on BBC Radio 3 and received a 4-star review from
Richard Morrison- 'a spine-tingling tribute, THE TIMES.
The third event in King's closed the CMF season and took place in Holy Week
(March 2024). The choir Tenebrae (director Nigel Short) perfornied Joby Talbot's
Path ofmiracles, a choral meditation on the pilgrimage to Santiago de Compostela.
As the Cambridge Independent reported: 'The power of the perforniance brought the
entire audience to its feet. What an amazing and unforgettable experience we had
shared.,
Other larger-scale events included the 12 Ensemble perforn]illg Strauss's
Metamorphosen for 23 solo Strings and the period-instrument group, Arcangelo
(director Jonathan Cohen), led by violinist Théotime Langlois de Swarte joined by
vocal soloists Anna Dennis, Anita Monserrat, Guy Cutting and Edwatd GrinL gave an
alI-Bach progran)Jne of cantatas and concertos.
'The Cambridge Music Festival has always presented the highest standards of
acluevement in the guests it includes for each seasoo and Arcangelo was an
enviable example of that standard. The ensemble produced an evening that can
only be described as magical., CAMBRJDGE INDEPENDENT
The critÈcal acclaim continued for three world-renowned chamber music artists". the
Takacs Quartet gave works by Haydn, Hough and Beethoven ('astonishing' as one
CMF donor described it). Stephen Hough perfonned a programme of Chaminade,
Liszt and Chopin ('There is no other word for it. Stephen Hough is simply an
outstanding pianist., CAMBRIDGE INDEPENDEND" and Angela Hewitt brought
her renowned interpretation of Bach's Goldberg Variations. (At dinner afterwards, we
discovered tbat 2023 marked the fiftieth anniversary of ber f￿st perfonnance of this
work, at her hometown church in Canada where her father was director of music for
many years.)

Cambridge Music Festival Limited
Report of the Trustees continued
For the year ended 31 March 2024
Review of the year and future plaus continued
'Extraordinary recital this evenKng. The Goldberg is my favourite of Bach's great
keyboard works, and I can't remember ever having heard it played better.
Wonderful that we all held the silence for so long after the fmal note., AUDIENCE
MEMBER (by emaÉl)
More contemporary fare was featured in another programrne devised by the Festival
Director which explored the jazz-inflected complexity of Conlon Nancarn)w's piano
player studies. Through their arrangements of these studies, the Bugallo-williams
piano duo from the USA were able to bring works that are humanly impossible to
perfomi into the concert hall - even with two pianos and four hands, this was a feat of
hire-wire virtuosity. The Nancarrow was placed in the context of contemporary works
(from the late 1960s and '70s) by Gyorgy Ligeti and Steve Reich.
'Congratulations to the Cambridge Music Festival for an original, exciting event-
a real rarity.,
CAMBRIDGE CRITIQUE
A new departure for CMF this season has been to explore the classical or art-music
traditions of other parts of the world. The Syrian-born Maya Youssef came to London
a decade aoo in the wake of civil war in her homeland. She brought to Cambridge a
programme for qanun- a 78-string zither-like instnllnent - that combined her own
compositions with the traditional melodies and modes (or rnaqam) of Arabic music.
Later in the season, the award-wining sxtarist Jasdeep Singh Degun (in the week of his
concert he was awarded RPS Soloist of the Year) was joined by tabla-player Harkiret
Babra in a 70-minute improvisation rooted in North Indian raga.
The uncertainty over whether CMF would be able to attract an audience for this work
was unfounded: both concerts sold out in advance and attracted an enthusiastic and
appreciative audience.
'At Cambridge Music Festival, Degun and Balva offered a phenomenal evening,
received with enthusiasm by the capacity audience., CLASSICAL EXPLORER
The 2024125 season opens with a return by the Philip Glass Ensemble, a decade after
their last appearance at CMF. Choral projects in King's College chapel include
Mozart's Requiem and Stravinsky Mass with the Choir of King's College and Britten
Sinfoni4 and a perforniance of Mendelssohn's Elijah with Simon Keenlyside in the
'title role, alongside soloists Carolyn Sampson, Sarah CoDnolly and Andre￿ Staples.
BBC Concert Orchestra and an expanded BBC Singers - the concert will be broadcast
on BBC Radio 3.

Cambridge Music Festival Limited
Report of the Trustees continued
For the year ended 31 March 2024
Review of the year and future plans continued
Other choral events range from Theatre of Voices, the Anglo-Danish supergroup who
specialise in the music of Arvo Part, to the American folk quartet in a programme that
explores the theme of Midwinter through singing traditions in the USA (' Sacred
HaLTJ'), southern France (Occitan), and the driving percussion and polyphony of
Lithuania.
Chamber music artists include the pianist Boris Giltburg, Pavel Haas Quartet, and the
viol player Jordi Savall who returns after his 5-star (The Times) concert two seasons
ago. On a slightly larger scale, the Festival welcomes the young string ensemble,
United Strings of Europe, who are making a name for themselves at major venues
across Europe. And the Festival continues its exploration of art-music traditions from
around the world with an appearance by Jali Bakary Konteh, the tl]ird generation of
legendary Gambian kora players.
The season is completed with a free public installation, 'VR Orchestra,. The
Philhannonia Orchestra, s award-wirLning vÉrtual reality installation puts members of
the public at the heart of an orchestr& People sit on a revolving stool, are set up a
VR headset and earphones, choose one of three pieces and as they look around them,
they can see and hear the full force of a symphony orchestra.
The last year has seen significant changes in the leadership of the CMF board. Andy
Swarbrick stood down from the board after over three decades, involvement in CMF,
Including the last nine years as Chair. He has been a huge support to the current
Festival Director (since 2012), offering positive advice professionally and personally,
and in particul￿ introducing the charity to individual donors and corporate sponsors
whose financial support has proved vital in the continued success of the charity and in
attracting world-class artists. Andy also brought extensive musical knowledge and, as
a former partner at Deloitte, rigorous fmancial oversÈght. CMF is deeply indebted to
Andy for his many years of service and the significant impact he has made.
In October 2023 Caroline Stenner, a current CMF trustee and partner at Birketts (a
longstanding sponsor of CMF). kindly stepped in as Interim Chair.
In September 2024. Simon Crookall is to be appointed as Chair of the board. Simon
brings considerable experience of arts manaoement and fun(traising, and is famkliar
with the MUSIC￿ life of Cambridge. He studied Economics at King's College
Cambridge, where he was also a choral scholar, before taking up Toles at The Queen's
Hall Edinburgh (General Manager), the Royal Scottish National Orchestra (CEO),
Indianapolis Symphony Orchestra (President & CEO) and Hawaii Opera Theatre
(General DÉrector). Since his rettmi to the UL Simon has held fimdraising roles at
Lincoln Cathedral and Oxford Univcrsity, and is currently director of development at
Wolfson College Cambridge. CMF is fortLLnate to have secured a new chair of such
high calibre wbo is so well placed to help lead the charity through the con]ing years.

Cambridge Music Festival Limited
Report of the Trustees continued
For the year ellded 31 March 2024
Structure, Governance and Management
The organisation is a charitable company limited by guarantee, incorporated on 10
September 1993 and registered as a charity on 31 January 1994.
The company was established under a Memorandum of Association which established the
objects and powers of the charitable company and is govemed by its Articles of
Association.
The Directors of the company are also charity Trustees for the purposes of charity law. A
Fcstival Director, not a Director of the company, manages the day-to-day operations. In
addition to the Annual General MeetKng, the Trustees hold meetings as necessary to
discuss programmtng, sponsorship and financial matters.
Recommendations of new Trustees/Directors are put fonvard and approved for
appoKntment by the current board. Trustees are expected to attend as many of the board
meetings as possible throughout the year.
Terms of Trustees, membership are reviewed on rotation.
Risk Review
The Trustees have identified the major risks to which the company is exposed and
reviewed and implemented systems to mitigate these risks. The major risk continues to be
the reliance on project income Nvhich cannot be guaranteed, festival to festival, and which
may not necessarily cover the overhead costs and essential fees to the Festival Director
and other members of the festival's team. The Trustees continue to believe that the risks
of unknowable box office income must be safeguarded by an adequate contingency fund
in each overall festival budget.
Review of Financial Position
The net movement of funds for the year was a deficit of £1,078 (2023: £3,340 surplus).
The surylus in the general fund as at 31 March 2024 is £45,673 (2023: £46,751).
Reserves Policy
Recognising that the Festival's results are dependent on box office and sponsorship
income. neither of which is sufficiently predictable, the Trnstees seek to build and
maintain reserves of around £45,000 to cover about ninc months of running costs.

Cambridge Music Festival Limited
Report of the Trustees continued
For the year ended 31 March 2024
Trustees
The Trustees who served during the year were as folkows:
Nicholas Bewes
Jon Qisby
Adam Greenwood-Byrne
Louise Hudson (resigned 27 November 2023)
Julia lent (resigned 3 October 2023)
Caroline Stenner (Chair)
Andy Swarbrick (resigned 3 October 2023)
Nicky Webb
Small Company Exemption
This report has been prepared in accordance with the provisions in Part 15 of the
Companies Act 2006 applicable to companies subject to the small company regime.
Statement of Trustees, Responsibilities
Company law requires the Trustees to prepare financial statements for each fmancial year
which give a true and fair view of the charitable company's state of affairs at the end of
the year and of its income and expenditure for the year.
In doing so the Trustees are required to select suitsble accounting policies and then apply
them consistently, to make judgements and estimates that are reasonable and prudent and
to prepare the financial statements on the going concern basis unless it is inappropriate to
presume that the company will continue in operation.
The Directors are responsible for keeping proper accounting records which disclose with
reasonable accuracy at any time the financial position of the charitsble company
and enable them to ensure that the accounts 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.
The Trustees are responsible for the maintenance and integrity of the corporate and
financial infomiation included on the Charity, s wcb51te. Legislation in the United
Kingdom governing tE]e preparation and dissemination of fmancial ststements may differ
from legislation in other jurisdictions.
This report was approved on q 4t 20)oand signed on behalf of the Board
aThJfrth4J
C Stenner
Trustee

Cambridge Music Festival Limited
Independent ExAminer's Report
To the Trustees of CAmbridge Music F￿tival Limited
AB
ACCOUNTANCY
I report on the accounts for the company for the year ended 31 March 2024, which are
set out on pages 9 to 13.
Responsibilities and basis of report
As the ¢harity's trustees of the Company (and also its directors for the purposes of
company lawyou 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 callied out under s¢ction 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
I have completed my examination. I confirn] the no matters have come to my attention
in connection with the examination giving me cause to believe:
l. 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 oth¢r 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 conn¢ction with the
examination to which attention should be drawn in this report in order to enable aproper
understanding of the accounts to be reached.
Amy Bugg FCA
AB Ac¢ountan¢y
Address $7A Great Fen Road, Soham, Cambridgeshire, CB7 5UH
Date
£ Ilo IloLLt

Cambridg¢ Music Festiv81 Limited
StattmeDt of FiDatLcial Activities IiDtorporating ID¢ome & ExpendÉture Account)
for the year ellded 31 March 2024
Uttrestrieted
Fuods
Restricted
Funds
Totsl
Fuads
Totsl
Funds
Note5
2024
2024
2024
2023
IEtcome
Doultious
54037
54.837
102.812
Come fron) ¢h¥ritable Actlvltles
89.116
89,116
77.607
Ottler tr4ding Hcttvitie5
36￿0
36,000
40.000
ILve$tmell¢ itttome
982
982
154
Totsl io¢om¢
[80,935
180,935
220.573
Expellditure
ExpeDditsre OD r8isiDg fuDd$
20034
20,834
19,8
Expenditure th¥ritsblÈ activiti
li2W48
152,848
189.389
Governgllce
8J31
8J31
7,952
Totsl eipend5ture
182,013
182,013
217233
Net Rncomel{txpeDditure)
(1,078}
{1,078)
3.340
Ba]ances at l April 2023
46.751
46,751
43,411
Balancu #t 31 M4r¢h 2024
4S,673
45,673
46.751
The notes on pages 10 10 12 fonn part of these flnancial statwnents.

Cambrid*7e Music Festival Limiteil
Bal8nce SILeet
as at31 imareh 2024
rlotes
2024
2023
T8Jgible Fixed Assets
766
,166
Cllrrtnt assets
Debtors
Cash at bank and in hand
50,009
38,725
40,781
64.153
88,734
104.934
Creditors: amollnts f211Èng due witltill one yEar
(43,827}
(59.349)
44,907
45585
Net assets
45,673
46.751
Restricted
Unrestricted
45,673
46,751
4S,673
46.751
For the year ending 31 March 2024 the Company w&8 entided to exemption from audit und¢F section 477 of the Companics Act 2006 relats"n8 to
small ¢omtAnies.
The members have not Fequired the company to o￿n an audit in a¢coTrlance with section 476 of the Companies Act.
The directors acknowledge their responsibilities for complying with th¢ r¢quirements of th¢ comp￿ie$ Act 2006 with T¢$￿t to accountin8
records 2n0 the preparation of a¢¢ounts.
The gccounts have been prepared in a¢¢ordan¢e with the provisions applicable to companies subject to the small co]npanieg r¢8U)J¢ and in
accordance with FRS 102 SORP.
Approved bythe board on
C St¢ttner
CompallyNumb¢r 2852295
The notes on p38e5 10 to 12 form of these financial 5tatem¢nts.
io

Cambrldge Music Festival Limitcd
Notts to the Accounts
for the year ended 31 Marth 2024
Atcoulltlllg polieles
Accountiug ¢oDvention
These accounts have been prep&red under the hislorsca] cost convention with iierns recwised at cosi for tr2nsaction value unless othernise
5tat¢d sn the relevant not¢ to thesc accounts.
These fingncial Sfdtemeftts have been prepared io accordance with FRS 102, The Fingncial ReF4)rting Stand8rd appli¢8ble in the UK and
Republic of Ireland and with the Charities Act 2011.
Inf 0￿¢ aDd expEnditure
Income and expenditure iterns have been credited or ¢h8rg&l in the Statement of Financial A¢iivities on an accrua15 basis. Exp¢ndiLure
item5 in¢lude an el¢m¢nt of non-r¢¢laiTnable VAT.
Grnllts doll4tiotL$ attd spottsorslLiP illeOJth
Inwme relatlrtg to ￿tUre accowiiing periods is taken to the balance sheet as defe¥red income for Tecognitson in those future accounting
peTiods.
Tax reelASms on dollitions Ittd gifts
Gift Aid r￿￿1VAble is included in income when there i5 a volid declaration from the donor. Any Gift Aid amount re¢overed on a donaiion is
considered to be part of that gift and is treated as an addition lo the same thd &8 the initial donation unles$ th¢ donor sp¢cifi¢d othen¥is¢.
Re5tri¢ted fullds
Resources are recorded ort a re¢eivabl¢ basis 2nd all¢)cated to a Restrieled Fund if 2 limitation on their use is sp¢¢ified by the donors 2nd
provider5. Fund5 received in the direct opetation of the Charity are treated as Unrestrict￿ fi]Hd5. Oth¢r resources received without external
restriction may bedesignated by th¢ TnJst¢es For particul￿ PLwposes as deeraed appropriat¢.
Governance and 511PPOrt coBts
SuppM)rt costs have been allocaled between 8ovemance tosts and other support Govcrn8nce costs compris¢ all costs involvin8 public
a￿ountablIlty of the charity and ils compliance with regulation and 8ood prdctice. Supwrt costs includ¢ ¢entral fimctions and have been
located to activity c051c8legories on ab&%15 consistent with th¢ us¢ of the resourccs.
I￿etOWerable VAT is char8ed as a Cost to the charity.
T&nglble fixed assets
Tangibl¢ fixed assets are M￿ured at cost1￿5 accumulative depreciation and any accumulative impairn)¢ni losses. DeprecL2tion is provided
on 8]1 taft8ible fixed &ssets &t ￿te5 calculated to w¥ite off the cost. less estimated resTdual vdu4 of each ￿tt evenly over its expeeted use￿1
Ilfr, &5 follows..
Officeeouipment
2￿ per annum on a str&i8ht line b¥is
D¢btor5 Creditors
Dcbtor5 and CredItorsarere¢o￿jsc4 at their settlement value and are ail r#eivablelpayable within oneyear.
FiDall¢ial Ih$trum¢nts
The company only has financi￿ &%sets and financial liabilities of a kind that qualify &$ b￿]C fjnpmcial i[￿ertts. B￿1¢ financial
instruments Initially reco8nised attransaction value and subs¢quetLtly measwed at their setdernent wallle.
Going CODcer
The Yru5tecs have made sn 8ssessmenL based on ttv&slable future inform*ion. that the accounts should be prepared on a going con¢em ￿15.
Directors Remunergtion and ExpeDSES
The dire¢iors re¢eived no remuneration dwing the yearand wer¢ not r¢llllburscd for any exp¢nses.
The ¢ompany no employees.

C3mbridgt l*fwsie Festival Limited
Note5 to the Accounts
for the year ettded 31 March 2024
Income
Unrestricted
Restri¢ttd
2024
2023
Doll8tions
Donations including GiftAid
54,837
S4037
54.837
102.812
102 812
Trus¢s & Foulld#¢lott$
Grani
Intome from charitable activiti¢5
Other Sal&
Tscket Soles
2,448
86,668
,668
77.607
89,116
89.116
Oiber tradill8 9ttivities
Sponsorship
36.000
3d,000
40.000
Investment iDCOTRt
Int¢r¢st r¢wiv¢d
982
982
154
Total exptnses
024
O¢al
2023
Tots]
Cost5 directTy allocated to
#tttvities
ConsulwiLS fees
Artis￿ fe¢s and expet
Outdoor arL8
PRS costs
Depreciation
Advertising
Camival ptoject
Dire¢t
14,738
l4,738
83?99
3274
,750
99
33,000
108222
8290
446
400
19,359
14.410
Direct
Dirxt
Dire¢1
Direct
Direct
(446)
400
34,844
446)
400
,844
Supporteosts alloc8ted to
gftlvities
Offic¢ costs
Accountanry feES
1￿Ce0v¢[able VAT
Tim¢
Direct
6,096
8,015
IJSS
3,702
15,466
3,702
IE,897
12,409
3.S3l
17.166
11,897
20
152.848
182,013
217233
aC¢N￿ of £5(X> has been in¢luded in the accounts forthe year in respect of the indeFendeni ex2tnine¢s fce (2023. £500).
12

Cambrldge MLtsie Festtval Limited
'ote5 to the Accounts
for the year eAded 31 Mareb 2024
TAKation
Th¢ company is a Tegistered charity and is therefore not liable to income tax or ¢orpoTalion tax on funds reeeived and expended on activities
¢ov¢r¢d by its charitable statu5.
Tanglble Flxed Assets
Otrice
equipment
Cost
As at 31 M8rch 2023
Additions
At 31 March 2024
2.0110
2.0110
Depreciation
As at 31 Mareh 2023
Charge for the year
Ai 31 ￿?￿h 2024
834
400
1234
Net bookv81ue
At 31 March 2024
766
Ai 31 March 2023
1.166
Debtors
2024
2023
TTadE debiors
VAT
Oth¢F d¢btor5 8nd prepayrnents
1,086
2,691
46.232
7,508
33.273
40.781
Crtditors: amounts fg11iDg due within one y¢ar
2024
2023
Trade creditors
VAT
AccNals &other creditors
12,244
3.271
50.212
31.583
43,827
59,349
Relattd PArty Trgflsactions
During the year trustees tnad¢ donatiort5 to the ch8rity totalllns £>.497 {2023: £7,495). No beneflts w¢r¢ TeceLVEd ￿ a result of these
donations.
In addition. sponsorship tot8]ling £IO,QOO12023.. £10.IXIO) excluditlg VATwas reeeived during th¢year frorn l>usin&8ses where a
TTU5tee 15 & directorlF4ther. The knefits given in iettjm forthe sponsorship did not differ from those 8iven to non r¢Jai¢d party sponsors.
10 1481 ststlls
The charity is a comp2LW limited by 8u2rant¢e and ha5 Do share capit￿. There arc 8 mernb¢rs who have guarantced to contribute up to £5
each io the 2sseL8 of the company in the eveni of its bein8 wouttd up with 8 net deficit of assets. The guaran*e ietnain5 in force for onc ye8
ft￿the r¢si8Hatson of a member.