**REGISTERED COMPANY NUMBER: 02639507 (England and Wales) REGISTERED CHARITY NUMBER: 1040455**
## **REPORT OF THE TRUSTEES AND UNAUDITED FINANCIAL STATEMENTS**
## **FOR THE YEAR ENDED 31 DECEMBER 2023**
## **FOR**
## **BATH MOZARTFEST LIMITED**
Barber & Company A trading name of PCM Accounting Limited 2 Jardine House Harrovian Business Village Bessborough Road Harrow Middlesex HA1 3EX
**BATH MOZARTFEST LIMITED**
## **CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023**
|||**Page**||
|---|---|---|---|
|**Report of the Trustees**|1|to|3|
|**Independent Examiner's Report**||4||
|**Statement of Financial Activities**||5||
|**Balance Sheet**|6|to|7|
|**Cash Flow Statement**||8||
|**Notes to the Cash Flow Statement**||9||
|**Notes to the Financial Statements**|10|to|16|
|**Detailed Statement of Financial Activities**||17||
**BATH MOZARTFEST LIMITED**
## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2023**
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 31 December 2023. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).
## **ACHIEVEMENT AND PERFORMANCE**
## **Charitable activities**
The economic climate remained challenging for most Arts organisations, with rising costs, world-wide turmoil and uncertainty in financial markets casting a long shadow.
In 2023 Bath Bachfest and Mozartfest faced particular challenges at two of its major concert venues: the acoustic at Bath Abbey has changed following major renovation work, which resulted in complaints and then lower ticket sales for concerts there, and the heating failed at the Assembly Rooms on the first day of our November festival (this was resolved and no concerts were cancelled but it reduced the customer experience for several days). These issues, plus anecdotal evidence that significant numbers of our regular audience members, many of whom are retired and on fixed incomes, were attending concerts again but limiting the number of events for financial reasons, accounts for audience numbers still not reaching pre-pandemic levels, although at a level that most other comparable festivals envy.
In recent years the festivals have successfully worked with national and international tour groups specialising in musical breaks in attractive cities. These have resumed and are approaching pre-Covid levels although in November 2023 an Israeli tour group had to cancel at short notice because of the crisis in that country. All payments made by this group were refunded but it was too late to re-sell most of the (top price) tickets that they had booked and this unfortunately had a financial impact of c£7k and accounted almost exactly for the overall operating deficit made by Bath Mozartfest 2023. Bath Bachfest 2023 recorded a small operating surplus of just less than £1k.
During the year under review, the company has recorded an overall surplus, including investment income, amounting to £15,692 (2022: Surplus £40,416).
As ever the small management team has worked hard to reduce costs and increase support through pro-active marketing and fundraising activity. In 2023 a generous donation of £40k from a long-standing supporter made a significant contribution to the bottom line. A long-term plan to attract new, next generation, supporters is underway with a Nominations Committee created to identify both new board members and potential donors.
A healthy increase in the value of the Quilter Cheviot managed investments has also helped the overall financial picture.
## **FINANCIAL REVIEW**
## **Principal funding sources**
The charity's principal funding sources are from ticket sales, sponsorship and donations.
## **Reserves policy**
The trustees are conscious of the need to ensure the continued viability of the company and with the continued support of their sponsors, they believe that the company has sufficient financial backing to enable it to continue for the foreseeable future. They also consider that the reserves as at 31 December 2023 were at an appropriate level.
## **STRUCTURE, GOVERNANCE AND MANAGEMENT**
## **Governing document**
The charity is controlled by its governing document, The Memorandum and Articles of Association, and constitutes a limited liability company, limited by guarantee, as defined by the Companies Act 2006.
Page 1
**BATH MOZARTFEST LIMITED**
## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2023**
## **STRUCTURE, GOVERNANCE AND MANAGEMENT**
## **Status of the Trustees**
The trustees of the charity are also the directors of the company for the purposes of the relevant charity and company law and in accordance with the Memorandum and Articles of Association.
The Memorandum and Articles of Association, as approved by the Charity Commission, decrees that the Board shall comprise a minimum of two members with no maximum number. All Board members are elected by the existing Board, taking into consideration their professional experience and knowledge of classical music. No formal induction or training is given to new trustees, but they are given an introduction to the work of the Company and provided with the information they need to fulfil their roles which includes information concerning their duty as trustees and an insight into charity law. In addition they are required to sign a letter confirming their support for the objects of the company. Each director/trustee is appointed by the Board to serve for a period of three years after which he/she may seek re-election.
## **Organisational structure**
The day to day administration and other operational Company matters are delegated to a team of specialist professionals supported by members of the Board. Periodic reports are provided to the Board for review and action as required.
## **Risk management**
The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error. The Board has conducted a review of the major risks to which the charity is exposed and where appropriate has ensured that procedures and systems are in place to mitigate such risks.
## **REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number**
02639507 (England and Wales)
## **Registered Charity number**
1040455
## **Registered office**
7-9 North Parade Buildings Bath BA1 1HS
## **Trustees**
Sir David Bell C Allanson-Bailey T Osborne S Johnson P Roper A Woodroffe Lieutenant General Sir R Cordy-Simpson Professor R Wendorf
## **Company Secretary**
C Jones
## **Independent Examiner**
Christopher Horsley FCA Barber & Company A trading name of PCM Accounting Limited 2 Jardine House Harrovian Business Village Bessborough Road Harrow Middlesex HA1 3EX
Page 2
**BATH MOZARTFEST LIMITED**
## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2023**
**REFERENCE AND ADMINISTRATIVE DETAILS Principal Bankers** HSBC Bank plc, 45 Milsom Street, Bath, BA11DU
Approved by order of the board of trustees on ............................................. and signed on its behalf by:
........................................................................ D Bell - Trustee
Page 3
## **INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF BATH MOZARTFEST LIMITED**
## **Independent examiner's report to the trustees of Bath Mozartfest Limited ('the Company')**
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 December 2023.
## **Responsibilities and basis of report**
As the charity's trustees of the Company (and also its directors for the purposes of company law) you 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 carried out under Section 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**
Since your charity's gross income exceeded £250,000 your examiner must be a member of a listed body. I can confirm that I am qualified to undertake the examination because I am a member of the Institute of Chartered Accountants in England and Wales, which is one of the listed bodies.
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:
1. 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 (FRS 102)).
I have no concerns 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.
Christopher Horsley FCA
Barber & Company A trading name of PCM Accounting Limited 2 Jardine House Harrovian Business Village Bessborough Road Harrow Middlesex HA1 3EX
Date: .............................................
Page 4
## **BATH MOZARTFEST LIMITED**
## **STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2023**
|Unrestricted
fund
Notes
£
**INCOME AND ENDOWMENTS FROM**
Donations and legacies
2
**176,970**
**Charitable activities**
4
Classical music festivals
**190,766**
Investment income
3
**12,454**
**Total**
**380,190**
**EXPENDITURE ON**
Raising funds
5
**19,812**
**Charitable activities**
6
Classical music festivals
**347,007**
Other administration costs
8
**16,589**
**Total**
**383,408**
Net gains/(losses) on investments
**18,353**
**NET INCOME**
**15,135**
**Transfers between funds**
14
**10,000**
**Net movement in funds**
**25,135**
**RECONCILIATION OF FUNDS**
Total funds brought forward
**279,355**
**TOTAL FUNDS CARRIED FORWARD**
**304,490**|Restricted
fund
£
**557**
**-**
**-**
**557**
**-**
**-**
**-**
**-**
**-**
**557**
**(10,000)**
**(9,443)**
**108,395**
**98,952**|**31.12.23**
31.12.22
**Total**
Total
**funds**
funds
**£**
£
**177,527**
228,363
**190,766**
196,063
**12,454**
2,283
**380,747**
426,709
**19,812**
17,798
**347,007**
343,995
**16,589**
16,071
**383,408**
377,864
**18,353**
(8,429)
**15,692**
40,416
**-**
-
**15,692**
40,416
**387,750**
347,334
**403,442**
387,750|
|---|---|---|
The notes form part of these financial statements
Page 5
## **BATH MOZARTFEST LIMITED**
## **BALANCE SHEET 31 DECEMBER 2023**
|Unrestricted
fund
Notes
£
**FIXED ASSETS**
Investments
11
**312,071**
**CURRENT ASSETS**
Debtors
12
**19,186**
Cash at bank
**12,162**
**31,348**
**CREDITORS**
Amounts falling due within one year
13
**(38,929)**
**NET CURRENT ASSETS**
**(7,581)**
**TOTAL ASSETS LESS CURRENT**
**LIABILITIES**
**304,490**
**NET ASSETS**
**304,490**
**FUNDS**
14
Unrestricted funds
Restricted funds
**TOTAL FUNDS**|Restricted
fund
£
**-**
**-**
**98,952**
**98,952**
**-**
**98,952**
**98,952**
**98,952**|**31.12.23**
**Total**
**funds**
**£**
**312,071**
**19,186**
**111,114**
**130,300**
**(38,929)**
**91,371**
**403,442**
**403,442**
**304,490**
**98,952**
**403,442**|31.12.22
Total
funds
£
266,659
21,495
161,934
183,429
(62,338)
121,091
387,750
387,750
279,355
108,395
387,750|
|---|---|---|---|
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.
The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 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 statements, so far as applicable to the charitable company.
The notes form part of these financial statements
Page 6
continued...
## **BATH MOZARTFEST LIMITED**
## **BALANCE SHEET - continued 31 DECEMBER 2023**
These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.
The financial statements were approved by the Board of Trustees and authorised for issue on ............................................. and were signed on its behalf by:
............................................. D Bell - Trustee
The notes form part of these financial statements
Page 7
## **BATH MOZARTFEST LIMITED**
## **CASH FLOW STATEMENT FOR THE YEAR ENDED 31 DECEMBER 2023**
|Notes
**Cash flows from operating activities**
Cash generated from operations
1
Net cash (used in)/provided by operating activities
**Cash flows from investing activities**
Purchase of fixed asset investments
Sale of fixed asset investments
Investment management costs
Net cash used in investing activities
**Change in cash and cash equivalents in**
**the reporting period**
**Cash and cash equivalents at the**
**beginning of the reporting period**
**Cash and cash equivalents at the end of**
**the reporting period**|**31.12.23**
**£**
**(23,761)**
**(23,761)**
**(27,067)**
**2**
**6**
**(27,059)**
**(50,820)**
**161,934**
**111,114**|31.12.22
£
101,951
101,951
(165,693)
-
1,540
(164,153)
(62,202)
224,136
161,934|
|---|---|---|
The notes form part of these financial statements
Page 8
**BATH MOZARTFEST LIMITED**
## **NOTES TO THE CASH FLOW STATEMENT FOR THE YEAR ENDED 31 DECEMBER 2023**
|**1.**|**RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM**|**OPERATING ACTIVITIES**|**OPERATING ACTIVITIES**|
|---|---|---|---|
|||**31.12.23**|31.12.22|
|||**£**|£|
||**Net income for the reporting period (as per the Statement of Financial**|||
||**Activities)**|**15,692**|40,416|
||**Adjustments for:**|||
||(Gain)/losses on investments|**(18,353)**|8,429|
||Decrease in debtors|**2,309**|15,093|
||(Decrease)/increase in creditors|**(23,409)**|38,013|
||**Net cash (used in)/provided by operations**|**(23,761)**|101,951|
## **2. ANALYSIS OF CHANGES IN NET FUNDS**
||At 1.1.23|Cash flow|**At 31.12.23**|
|---|---|---|---|
||£|£|**£**|
|**Net cash**||||
|Cash at bank|**161,934**|**(50,820)**|**111,114**|
||**161,934**|**(50,820)**|**111,114**|
|**Total**|**161,934**|**(50,820)**|**111,114**|
The notes form part of these financial statements
Page 9
**BATH MOZARTFEST LIMITED**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023**
## **1. ACCOUNTING POLICIES**
## **Basis of preparing the financial statements**
The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', 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, with the exception of investments which are included at market value, as modified by the revaluation of certain assets.
## **Income**
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
## **Expenditure**
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
## **Taxation**
The charity is exempt from corporation tax on its charitable activities.
## **Fund accounting**
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
## **Fixed asset investments**
Fixed asset investments are shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in the Statement of Financial Activities.
## **2. DONATIONS AND LEGACIES**
|Mozartfest Society and donations
Sponsorship and grants|**31.12.23**
**£**
**79,236**
**98,291**
**177,527**|31.12.22
£
136,289
92,074|
|---|---|---|
|||228,363|
continued...
Page 10
**BATH MOZARTFEST LIMITED**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2023**
|**3.**
**INVESTMENT INCOME**
Dividend and interest income
**4.**
**INCOME FROM CHARITABLE ACTIVITIES**
Activity
Ticket sales
Classical music festivals
Other festival income
Classical music festivals
**5.**
**RAISING FUNDS**
**Raising donations and legacies**
Sponsorship and donations
**6.**
**CHARITABLE ACTIVITIES COSTS**
Classical music festivals
**7.**
**DIRECT COSTS OF CHARITABLE ACTIVITIES**
Artists' fees and expenses
Marketing
Public relations and communication
Other festival production and performance costs
Administration
**8.**
**OTHER ADMINISTRATION COSTS**
Bank charges
Finance costs
Independent examiner's fees
Investment management fees|**31.12.23**
31.12.22
**£**
£
**12,454**
2,283
**31.12.23**
31.12.22
**£**
£
**178,854**
182,577
**11,912**
13,486
**190,766**
196,063
**31.12.23**
31.12.22
**£**
£
**19,812**
17,798
Direct
Costs (see
note 7)
£
**347,007**
**31.12.23**
31.12.22
**£**
£
**138,924**
136,993
**50,731**
51,045
**22,164**
20,149
**97,402**
101,878
**37,786**
33,930
**347,007**
343,995
**31.12.23**
31.12.22
**£**
£
**386**
386
**14,047**
12,770
**2,150**
1,375
**6**
1,540
**16,589**
16,071|31.12.22
£
2,283
31.12.22
£
182,577
13,486|31.12.22
£
2,283
31.12.22
£
182,577
13,486|
|---|---|---|---|
|||196,063||
|||31.12.22
£
136,993
51,045
20,149
101,878
33,930||
|||343,995||
|||31.12.22
£
386
12,770
1,375
1,540
16,071||
||||16,071|
continued...
Page 11
**BATH MOZARTFEST LIMITED**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2023**
## **9. TRUSTEES' REMUNERATION AND BENEFITS**
There were no trustees' remuneration or other benefits for the year ended 31 December 2023 nor for the year ended 31 December 2022.
## **Trustees' expenses**
There were no trustees' expenses paid for the year ended 31 December 2023 nor for the year ended 31 December 2022.
## **10. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES**
|Unrestricted
fund
£
**INCOME AND ENDOWMENTS FROM**
Donations and legacies
227,684
**Charitable activities**
Classical music festivals
196,063
Investment income
2,283
**Total**
426,030
**EXPENDITURE ON**
Raising funds
17,798
**Charitable activities**
Classical music festivals
343,995
Other administration costs
16,071
**Total**
377,864
Net gains/(losses) on investments
(8,429)
**NET INCOME**
39,737
**Transfers between funds**
10,000
**Net movement in funds**
49,737
**RECONCILIATION OF FUNDS**
Total funds brought forward
229,618
**TOTAL FUNDS CARRIED FORWARD**
279,355|Restricted
fund
£
679
-
-
679
-
-
-
-
-
679
(10,000)
(9,321)
117,716
108,395|Total
funds
£
228,363
196,063
2,283
426,709
17,798
343,995
16,071
377,864
(8,429)
40,416
-
40,416
347,334
387,750|
|---|---|---|
continued...
Page 12
**BATH MOZARTFEST LIMITED**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2023**
## **11. FIXED ASSET INVESTMENTS**
|**11.**|**FIXED ASSET INVESTMENTS**|||
|---|---|---|---|
||||Listed|
||||investments|
||||£|
||**MARKET VALUE**|||
||At 1 January 2023||**266,659**|
||Additions||**27,067**|
||Revaluations||**18,353**|
||Impairments||**(8)**|
||At 31 December 2023||**312,071**|
||**NET BOOK VALUE**|||
||At 31 December 2023||**312,071**|
||At 31 December 2022||266,659|
||There were no investment assets outside the UK.|||
||Cost or valuation at 31 December 2023 is represented by:|||
||||**Listed**|
||||**investments**|
||||**£**|
||Valuation in 2021||**14,588**|
||Valuation in 2022||**(5,534)**|
||Valuation in 2023||**18,353**|
||Cost||**284,664**|
||||**312,071**|
|**12.**|**DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**|||
|||**31.12.23**|31.12.22|
|||**£**|£|
||Trade debtors|**396**|816|
||Other debtors|**18,790**|20,679|
|||**19,186**|21,495|
continued...
Page 13
**BATH MOZARTFEST LIMITED**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2023**
## **13. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
|Trade creditors
Other creditors
Accruals and deferred income
**14.**
**MOVEMENT IN FUNDS**
**Unrestricted funds**
General fund
**Restricted funds**
Bachfest fund
**TOTAL FUNDS**
Net movement in funds, included in the above are as
**Unrestricted funds**
General fund
**Restricted funds**
Bachfest fund
**TOTAL FUNDS**
**Comparatives for movement in funds**
**Unrestricted funds**
General fund
**Restricted funds**
Bachfest fund
**TOTAL FUNDS**|At 1.1.23
£
**279,355**
**108,395**
**387,750**
follows:
Incoming
resources
£
**380,190**
**557**
**380,747**
At 1.1.22
£
229,618
117,716
347,334|Net
movement
in funds
£
**15,135**
**557**
**15,692**
Resources
expended
£
**(383,408)**
**-**
**(383,408)**
Net
movement
in funds
£
39,737
679
40,416|**31.12.23**
31.12.22
**£**
£
**7,370**
297
**8,070**
23,170
**23,489**
38,871
**38,929**
62,338
Transfers
between
At
funds
31.12.23
£
£
**10,000**
**304,490**
**(10,000)**
**98,952**
**-**
**403,442**
Gains and
Movement
losses
in funds
£
£
**18,353**
**15,135**
**-**
**557**
**18,353**
**15,692**
Transfers
between
At
funds
31.12.22
£
£
10,000
279,355
(10,000)
108,395
-
387,750|
|---|---|---|---|
continued...
Page 14
**BATH MOZARTFEST LIMITED**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2023**
## **14. MOVEMENT IN FUNDS - continued**
Comparative net movement in funds, included in the above are as follows:
|Incoming
Resources
resources
expended
£
£
**Unrestricted funds**
General fund
426,030
(377,864)
**Restricted funds**
Bachfest fund
679
-
**TOTAL FUNDS**
426,709
(377,864)
A current year 12 months and prior year 12 months combined position is as follows:
Net
movement
At 1.1.22
in funds
£
£
**Unrestricted funds**
General fund
229,618
54,872
**Restricted funds**
Bachfest fund
117,716
1,236
**TOTAL FUNDS**
347,334
56,108|Gains and
Movement
losses
in funds
£
£
(8,429)
39,737
-
679
(8,429)
40,416
Transfers
between
At
funds
31.12.23
£
£
20,000
304,490
(20,000)
98,952
-
403,442|
|---|---|
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
|**Unrestricted funds**
General fund
**Restricted funds**
Bachfest fund
**TOTAL FUNDS**|Incoming
resources
£
806,220
1,236
807,456|Resources
expended
£
(761,272)
-
(761,272)|Gains and
Movement
losses
in funds
£
£
9,924
54,872
-
1,236
9,924
56,108|
|---|---|---|---|
Page 15
continued...
**BATH MOZARTFEST LIMITED**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2023**
## **15. RELATED PARTY DISCLOSURES**
There were no related party transactions for the year ended 31 December 2023.
Page 16
## **BATH MOZARTFEST LIMITED**
## **DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2023**
||31.12.23|31.12.22|
|---|---|---|
||£|£|
|**INCOME AND ENDOWMENTS**|||
|**Donations and legacies**|||
|Mozartfest Society and donations|**79,236**|136,289|
|Sponsorship and grants|**98,291**|92,074|
||**177,527**|228,363|
|**Investment income**|||
|Dividend and interest income|**12,454**|2,283|
|**Charitable activities**|||
|Ticket sales|**178,854**|182,577|
|Other festival income|**11,912**|13,486|
||**190,766**|196,063|
|**Total incoming resources**|**380,747**|426,709|
|**EXPENDITURE**|||
|**Raising donations and legacies**|||
|Sponsorship and donations|**19,812**|17,798|
|**Charitable activities**|||
|Artists' fees and expenses|**138,924**|136,993|
|Marketing|**50,731**|51,045|
|Public relations and communication|**22,164**|20,149|
|Other festival production and performance costs|**97,402**|101,878|
|Administration|**37,786**|33,930|
||**347,007**|343,995|
|**Other administration costs**|||
|Bank charges|**386**|386|
|Finance costs|**14,047**|12,770|
|Independent examiner's fees|**2,150**|1,375|
|Investment management fees|**6**|1,540|
||**16,589**|16,071|
|Total resources expended|**383,408**|377,864|
|**Net (expenditure)/income before gains and**|||
|**losses**|**(2,661)**|48,845|
|**Realised recognised gains and losses**|||
|Realised gains/(losses) on fixed asset investments|**18,353**|(8,429)|
|**Net income**|**15,692**|40,416|
This page does not form part of the statutory financial statements
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