Registered Number 02952926
PRESTEIGNE FESTIVAL OF MUSIC AND THE ARTS LIMITED
COMPANY LIMITED BY GUARANTEE NOT HAVING A SHARE CAPITAL
REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST DECEMBER 2024

PRESTEIGNE FESTIVAL OF MUSIC AND THE ARTS LIMITED
REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST DECEMBER2024
Contents
Pa
Trustees and Other Information
Chairfs statement
Artistic Activity
34
Trustees, Report
5-6
Independent Examiners, Report to the Trustees
Statement of Financial Activities
Balance Sheet
Notes to the Accounts
10-12

PRESTEIGNE FESTniAL OF MUSIC AND THE ARTS LIMITED
TRUSTEES AND OTHER INFORPIIATION
Trustees
G Vass
K T Hatfield
L B S Hungate
CNLane
E L Lilley
JA Trew
Dr N J Dearden
Secretary
A Giles
Registered Offi
1 St MarWs Street
Ross-on-wye
Herefordshire
HR9 5HT
Company Number
02952926
Registered Charity Number
1039968
Accountants
Thome & Co.
1 St Mary's Street
Ross-on-wye
Herefordshire
HR9 5HT
Bankers
HSBC PIC
The Cross
1 Broad Street
Newtown
Powys
SY16 2LX
Page 1

PRESTEIGNE FESTIVAL OF MUSIC AND THE ARTS LIMITED
CHAIR'S STATEMENT 2024
Presteigne Festival of Music and the Arts (PFMA} enjoyed a successful year. The main Festival took
place be￿een 23-26 August 2024. 2,597 out of a total available of 3,092 tickets were sold (84 % ),' this
represented a smaller number of tickets but a larger percentage of the totsl available than in 2023
(2,667 out of 3,375: 79% ). Surveys undertaken at the August Festival indicate that the overwhelming
majority of those attending were satisfied with the programme and performances. The latter were
again outstanding,- it is a great strength of the Festival that it attracts both established artists and the
very best of younger, emerging talent.
For the first time, PFMA arranged a Springboard Weekend in May 2024. This attracted an audience
from the local community including many who had not previously attended Festival events. Following
the success of this venture, a second Springboard Weekend has been arranged for 10-11 May 2025.
Other highlights of the year included the 'Compose Forf project (mentoring six early career composers
on new music for solo harp- each of the six pieces recorded and available to download from the
Festival website) and a singing workshop with Bob Chilcott, (which attracted singers from as far afield
as Manchester, Birmingham, Cardiff and Oxford).
There were four meetings of the Board of PFMA during the year, held remotely and in
Presteigne. PFMA'S accountant attended the face to face meeting in March 2024 in order to answer
questions raised by Board members. The Board continued to provide rigorous scrutiny of the financial
management of PFMA and the Board is satisfied that all relevant legal requirements have been duly
met.
Clive Lane
Chair
20 March 2025
Page 2

PRESTEIGNE FESTIVAL OF MUSIC AND THE ARTS LIMITED
ARTISTIC ACTIVITY 2024
The summary below sets out the main activities undertaken by Presteigne Festival of Music and the Arts
Limited to carry out its charitable purposes for the public benefit. The Presteigne Festival, located in rural
mid-wales, provides access to world-class music and arts events for an ever-widening audience base, also
bringing experience-broadening opportunities to its host community.
Artistic Director's Report
The 42nd Presteigne Festival took place over a five-day period from 22-26 August 2024, with a total of 25
ticketed events.
Local galleries and attractions contributed to the Festival with other arts-based activity including exhibitions
at the Sidney Nolan Trust and the Presteigne 'Open Studios. weekend which showed work by 36 local
artists and makers, several of whom were supported by the Sidney Nolan Trust Youth Arts Programme.
The Festival's music programme featured British composer Benjamin Britten and included a diverse
selection of works inspired by the natural world. The Festival also celebrated the 90th anniversary of Welsh
composer William Mathias. Richard Blackford was Composer-in-reslden￿ and there were 15 world
premieres.
Other living composers performed included Sally Beamish, Michael Berkeley, Nathan James Dearden,
Mared Emlyn, Michael Zev Gordon, Cheryl Frances-Hoad, James Albany Hoyle, Sarah Frances Jenkins.
David Matthews, Cecilia McDowall, Tayla-Leigh Payne, Joseph Phibbs, Julian Philips, Lynne Plowman,
Lara Poe, Adrian Sutton. Huw Watkins, Judith Weir, James B Wilson and Raymond Yiu.
Performances came from a superb collection of artists.. Piatti String Quartet, cellist Alice Neary, harpist
Anne Denholm, pianists Huw Watkins, Annie Yim and Joseph Tong, flautist Daniel Shao, soprano Rebecca
Bottone, mezzo-soprano Rebecca Afonwy-Jones, baritone Nicholas Mogg, actors Anton Lesser,
Christopher Good, Sarah Gabriel and Alex Knox, the Choir of Royal Holloway under director Rupert Gough
and the critically acclaimed Presteigne Festival Orchestra and Festival Ensemble.
A wide variety of non-musical events included showings of three Wales-produced films - 'Brian and
Charles,, 'Bolan's Shoes, and 'Y Swn, _ promoted in association wtth Presteigne Screen, readings and talks
from Sioned Davies (on the Mabinogion), the poet Nicholas Murray, Gavin Plumley (on Welsh art}, Peter
Sutton (on Piers Plowman) and Thomas Hyde interviewing Oliver Soden, Rhiannon Mathias and Richard
Blackford. The Festival also promoted a Bat walk in association with the Radnorshire Wildlife Trust.
Communlty and outreach actlvlty 2024125
Sprfngboard Weekend 2024
On 11 and 12 May, the Presteigne Festival hosted its inaugural 'Springboard' weekend, a series of
community-focused events. Highlights included tslks by Dr Toby Driver and lan Marchant, a screening of
Adil Ray's film Klimt and the Kiss, and performances by Dutch violinist Emma Roijackers and harpist
Heather Brooks. The weekend also featured harp music sessions at Presteigne Library, a shanty band at
The Duke's Arms pub and pop-up art exhibitions around town. With 67°/o of seats sold, 'Springboard' was
warmly received, engaging a new segment of the local community, many of whom attended the main
Festival in August. A similar event is planned for May 2025.
Bob Chilcott Choral Workshop
On 19 October, the Presteigne Festival, in association with Oxford University Press, hosted a one-day
choral workshop for amateur singers, led by the charismatic composerlconductor Bob Chilcott. Participants
studied music by Cecilia McDowall and Chilcott himself, with additional support from IMI aspiring vocal
soloists.
Page 3

PRESTEIGNE FESTIVAL OF MUSIC AND THE ARTS LIMITED
ARTISTIC ACTIVITY 2024
Communlty and outreach activity 2024125 - continued
Compose for
Marking another new initiative, the Festival launched its first'compose forf project, in partnership with Tg
Cerdd. Six early-career composers were selected through an open call and were mentored by harpist Anne
Denholm, Composer Lynne Plowman and Artistic Director George Vass through sessions in Cardiff and
online. The new works, for solo harp, will be premiered at the 2025 Springboard Weekend and filmed for
release via the Festival's online resource. 'Compose ft)rf is made possible with support from the PRS Talent
Development Network and the Colwinston Charitable Trust.
Presteigne Festlval at Blmilngham University
To expand awareness of its work beyond Presteigne, the Festival organises concerts in other major
ntres. In February 2025, pianist Annie Yim and actor Christopher Good visited Birmingham University to
perform a programme featuring works by J S Bach, Cheryl Frances-Hoad, Debussy, and Raymond Yiu,
interspersed with readings from Dr Sue Stuart-smith's book The Well Gardened Mind. This initiative
introduces the Festival to a broader audien￿, offering listeners a musical glimpse of the 2024 Fests'val.
Statistics
- A total of 2,597 out of 3,092 tickets were sold - 84 %.
Box Office amounted to £43,517-just under 25¥0 of expected turnover.
Footfall at Presteigne Open Studios was impressive with artists reporting visits from over 300 visitors.
- 283 people were at Annie Yim's recital at Birmingham University.
310/0 of the audience attended the Presteigne Festival for the first time in 2024.
- Administration costs amounted to under 23 % of estimated total budget.
- Artist fees and commissions (£66,375) amounted to over 37 % of estimated total budget
On
alf of the Trustees.
George
irector
31 March 2025
Page 4

PRESTEIGNE FESTIVAL OF MUSIC AND THE ARTS LIMITED
TRUSTEES. REPORT FOR THE YEAR ENDED 31ST DECEMBER 2024
The trustees who are also directors of the charity for the purposes of the Companies Act 2006,
present their report with the financial statements of the charity for the year ended 31st December
2023. The trustees have adopted the provisions of Accounting and Reporting by Charities:
Statement of Recommended Practs'ce applicable to charities preparing their accounts in
accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland
{FRS 102) (effective 1st January 2015}.
Princi
al Activit
The principal activity of the company is the presentation of festivals of music and the arts.
Structure Governance and Mana
ement
Goveming Document
The charity is controlled by its governing documen( a deed of trust, and constitutes a limited
company, limited by guarantee and has no share capital. The liability of each member in the event of
a winding-up is limited to £1.
Recruitment and Appointment of Trustees
Board members are the Trustees of the registered charity, who are elected in accordance with the
Articles of Association by an ordinary resolution of the company.
Members of the Board and recruited for the skills and knowledge they bring to the aims of the
Festival. This includes a knowledge of the classical music sector, board govemance, compliance,
risk, educational, accounting and legal expertise. Several Board members have strong local
connections, and this helps to ensure that the Festival is alive to local considerats'ons into account
and opportunities.
New directors are provided with a copy of the Articles of Association, Business Plan, recent accounts
and copies of the Festival's policies.
Organisational Structure
The Board of directors has responsibility for the Presteigne Festival as a company and as a charity.
The Board meets four times a year, including the AGM.
Day-to-day management of the Festival is delegated to the Artistic Director, the Festival Producer
and the Box Office manager. The Artistic Director is in regular contsct with the Chair and other Board
members in between rn￿ting$ to ensure performance against KPIS and budget.
Risk Managem8nt
The Board has an approved Risk Register, which is reviewed at least once a year and amended as
appropriate. All Directors have an obligation to identify new and emerging risks. The Board has
numerous policies and procedures, which are designed to mitigate the risks identified to the
maximum extent possible.
Public Benefit statement
The Trustees have complied with their duty to have due regard to the Charity Commission's public
benefit guidance when exercising duties to which the guidance is relevant.
Page 5

PRESTEIGNE FESTIVAL OF MUSIC AND THE ARTS LIMITED
TRUSTEES. REPORT FOR THE YEAR ENDED 31ST DECEMBER 2024
Dlrectors
The directors in office in the year were as follows..
G Vass
K T Hatfield
L B S Hungate
CNLane
E L Lilley
JA Trew
Dr N J Dearden
Approved by order of the board of trUSt￿S on
and signed on its behalf by..
G Vass - Trustee
Page 6

INDEPENDENT EXAMINERS. REPORT TO THE TRUSTEES OF
PRESTEIGNE FESTIVAL OF MUSIC AND THE ARTS LIMITED
I report on the accounts for the year ended 31st December 2024 set out on pages 6 to 10.
Respectlve responslbllltles of trustees and examiner
The charity's trustees (who are also the directors for the purposes of company law) 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{2) of the Charities Act 2011 (the 2011 Act) and
that an independent examination is required.
Having satisfied myself that the charity is not subject to audit under company law and is eligible
for independent examination, 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 examinerfs 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 the seeking of
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
I have completed my examination. I confirm that no matters have come to my attention in
connection with the examination giving me cause to believe..
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 other 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 (FRS102}.
I have no cOn￿rnS and have come across no other matters in connection with the examination to
which attention should be drawn in this report in order to enable a proper understanding of the
accounts to be reached.
Samantha Andrevts FCCA
Thorne & Co.
1 St Mary's Street
Ross-on-wye
HR9 5HT
Date..
Page 7

PRESTEIGNE FESTIVAL OF MUSIC AND THE ARTS LIMITED
STATEMENT OF FINANCIAL ACTIVITIES
FOR THE YEAR ENDED 31ST DECEMBER 2024
31.12.24 31.12.23
Total
Total
Fund8
Funds
Note Unrestricted Restricted
Funds
Funds
Incomln
Resources
Voluntary Incoma
Grants, Donations etc.
Investment Income
Interest Receivable
124,067
85,727
209,794
104,038
868
868
430
124,935
85,727
210,662
104,468
Incoming Resources from
Charitable Activities
Income from Festlval Actlvltles
37,702
37,702
33,719
Total Incomin
Resources
162 637
85,727
248,364
138,187
Resources Expended
Charitable Activities
Direct Festival Expenditure
Governan￿ Costs
51718
150,096
69,044
219,140
1,200
143,745
1,200
Total Resources Expended
151,296
69,044
220.340
144,945
Net Incomin
Resources
enditure
11,341
16,683
28,024
(6,758)
Transfer between Funds
Total Funds brou
ht fO￿ard
738
35,222
34,484
41,242
Total Funds carried forward
10,603
51,905
62,508
34,484
Page 8

PRESTEIGNE FESTIVAL OF MUSIC AND THE ARTS LIMITED
BALANCE SHEET- 31ST DECEMBER 2024
Note
2024
2023
Flxed Assets
Tangible Assets
Current Assets
Debtors
Cash at Bank and in Hand
19,949
86,532
106,481
8,250
65,078
73,328
Creditors: amounts fallin
due within one
ear
10
43,973
32,086
Net Current Assets
62.508
41,242
Total Net Assets
62,508
41,242
Unrestricted Funds
General Funds
Restricted Funds
11
10,603
51,905
8,688
32,554
12
The charitable company is entitled to exemption from audit under Section 477 of the Companies
Act 2006 for the year ended 31st December 2024.
The members have not required the charitsble company to obtain an audit of its financial statements
for the year ended 31st December 2024 in accordance with Section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for
(a) ensuring that the charitable company keeps accounting records that comply with Sections
386 and 387 of the Companies Act 2006 and
(b) preparing financial statements which give a true and fair view of the state of affairs of the
charitable company as at the end of each financial year and of its surplus or deficit for each
financial year in accordance with the requirements of Sections 394 and 395 and which
otherwise comply with the requirements of the Companies Act 2006 relating to financial
ststements. so far as applicable to the charitable company.
These financial statements have been prepared in accordance with the special provisions of Part 15
of the Companies Act 2006 relating to small charitable companies and with the Financial Reporting
Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1st January 2015).
The financial statements were approved by the Board of Trustees on
and were signed on its behalf by:
C N Lane - Trustee
G Vass - Trustee
Page 9

PRESTEIGNE FESTIVAL OF MUSIC AND THE ARTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2024
1 Accountin
Policies
Basls of Accounting
The financial statements have been prepared in accordance with the Charities SORP (FRS 102)
Accounting and Reporting by Charities: Statement of Recommended Practi￿ applicable to
charities preparing their accounts in accordance with the Financial Reporting Standard
applicable in the UK and Republic of Ireland (FRS 102} (effective 1st January 2015), Financial
Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of
Ireland and the Companies Act 2006. The financial statements have been prepared under the
historical cost convention.
Fund Accounting
Unrestricted funds are available for use at the discretion of the trustees in furtherance of the
general objectives of the charity.
Restricted funds are subject to restrictions on their expenditure imposed by the donor or
through the terms of the appeal.
Incoming Resources
All incoming resources are recognised when the Festival has entitlement to the funds, certainty
of receipt and the amount can be measured with sufficient reliability.
Resources Expended
All expenditure is recognised in the period in which a liability is incurred and has been
classified under headings that aggregate all costs related to that category.
Tangible Fixed Assets.
Assets exceeding £200 in cost are capitalised and depreciation is provided at rates calculated
to write off the cost of each asset over its expected useful life, estimated in all cases to be
four years.
Taxation
No provision is made for taxation in view of the charitsble nature and object of the company.
Reserves
As good practice, recommended by the Charity Commission, the directors have decided to
aim to maintain general reserves at a minimum level of three months, management and
administrative fees and 50/0 of one festival's direct costs.
2 Tan
Ible Fixed Assets
Fixtures, Fittings
and Equipment
Total
Cost
At 1st January 2024
Additions
At 3qst December 2024
De
reciation
At 1st January 2024
Charged in Period
At 31st December 2024
Net Book Value
At 1st January 2024
16.655
16.655
16,655
16,655
16,655
16,655
16,655
16,655
At 31st December 2024
3 Grants Donations Etc.
We are requested to note in the accounts that these include:
The Elmley Foundation of £15,000, Colwinston Chartiable Trust of £10,000, The Garrick Trust of
£3,000 and The Vaughan Williams Foundation of £10,000
Page 10

PRESTEIGNE FESTFVAL OF MUSIC AND THE ARTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2024
2024
2023
4 Income from Festival Actlvlties
Ticket Sales
Online Booking Fees
Programme Sales and Advertising
Bar sales
31,341
999
2,575
2,787
37,702
27.352
915
2,740
2,712
33,719
5 Direct Festlval Ex
Artists, Fees
Production and Venue Costs
Advertising, Programme and Box Office Costs
Artistic Directorfs Fees
Employers National Insuran￿ on Directorfs Fee
prOdu￿¢S Fees
Administration Wages
Community ActivitylProject
Other
enditure
47,325
101,925
22.645
18A17
2.316
14,000
4,272
1,769
6,471
219,140
36,470
44,397
18,095
17,341
2,493
111,000
4,138
4,358
5,452
243,744
6 Governance Costs
External Accountanvs Fees
1,200
1,200
7 Staff Costs and Numbers
Staff costs were as follovrfs:
Director's Fees
Wages
Total salaries
18.417
4,272
22.689
17,341
4,318
21,65
Employers National Insurance
2,316
25,005
2,493
24,152
No employee eamed in eX￿sS of £60.000 (2023: nil)
The average number of employees was I (2023.. 1)
8 Directors. Remuneration and Related Pa
Transactions
Only one Director was remunerated during the year, this amounting to £18,417 (2023: £17,341).
Within Artist's Fees of £47,325 {2023'. £36,470) are payments to one Director, Mr George Vass,
totalling £2,500 (2023.. £2,000) and a payment to The Nova Music Trust of £400 (2023: £100) for
services performed at the Festival.
Within Production and Venue Costs of £38,650 (2023: £44,397) are expense reimbursements
totalling £874 (2023: £1,157) paid to Directors (2023.. one Director).
Page11

PRESTEIGNE FESTIVAL OF MUSIC AND THE ARTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2024
2024
2023
9 Debtors
Debtors and Prepayménts
19,949
19,949
5,800
5,800
10 Credltors: amounts fallln
Festival Futures
Grants
Accruals and Deferred Income
due wlthln one
41,386
46,857
2,587
43,973
1,801
48,858
11 Unrestrlcted Funds
Asat
1.1.2024
Asat
Ex enditure 31.12.202
Income
T￿nsfer
General Funds
Total Unrestricted Funds
738
738
162,837
162,637
151,296
151,296
10,603
10,603
The Directors have agreed that the New Commissions Fund should be reclassifed as Restricted Funds and
merged with the George Vass Commission Fund during the year ending 31 December 2020.
12 Restricted Fun
Asat
1.1.2024
Asat
enditure 31.12.2024
Income
Transfer
Community Project l Activity
George Vass Commission Fund
Shared Prosperity Fund Grant
Festival Futures Fund
(2,1501
22,548
807
19,658
51,262
14,000
85,727
558
11,500
51,217
5.769
69,044
{1,901)
30,706
14,824
35,222
23.055
51.905
A new restricted Festival Futures Fund was created in 2020, with donations being carried forward into 2021
and onwards.
Page 12