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 2024
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 2024
| 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 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 31 December 2024. 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 continues to be challenging for the Arts sector, with some audiences still not returning to pre-Covid levels and problems exacerbated by rising costs, world-wide turmoil and unsettled financial markets.
In Bath both the Bachfest and Mozartfest have experienced unique problems with venues: with the Abbey where recent major works have resulted in a changed acoustic, and also at the Assembly Rooms - to date the major venue for both festivals - which has reverted to the National Trust (having been managed by the local council for many years) and is now closed for complete refurbishment. This has already impacted Bath Bachfest in 2024 and will mean neither festivals can use this venue in 2025, and potentially 2026 too. Solutions have been found, but these come with limitations, including reduced capacity and thus ticket income, and lack of facilities for hospitality.
To date our audiences remain good, and the national and international tour groups which are of considerable benefit to the festivals have returned to pre-pandemic levels. We are fortunate to have very loyal audiences, many taking Friends membership in order to secure early booking for the best seats, and we are consistently praised for the quality and the breadth of the programming of our festivals which underpins this support. This is largely due to our long-serving Artistic Director, Amelia Freedman, CBE, to whom the festivals owe a considerable debt of gratitude for more than 30 years of continuous service.
Trustees are, however, aware that many regular audience members are retired and living on fixed incomes and have been impacted by volatile financial markets, and are coming to fewer concerts than previously or in some cases are unable to donate as generously. Competition from other local festivals and events is also strong.
Costs have risen across the board: artists fees and expenses, plus expenditure on administration, marketing and PR and production costs, but the small management team continues to work hard to keep these to a minimum.
Fresh audiences and donors are continually sought and with this in mind, as Trustees have retired, the newly formed Nominations Committee has identified, and the Board has appointed, a number of new Trustees who can introduce new, next generation, supporters. A succession plan is now in place for the Artistic Director.
Despite these varied challenges income has held up very well, as has return on investment. The Board would like to thank formally all those who contribute to the success of Bath Bachfest and Bach Mozartfest, from the most generous sponsors to those who buy tickets - to have these results with no public funding is quite an achievement and we are most grateful to everyone who supports our endeavours.
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 2024 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 2024
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 (resigned 15.11.2024) P Roper A Woodroffe Lieutenant General Sir R Cordy-Simpson (resigned 27.3.2025) Professor R Wendorf N Isherwood (appointed 22.7.2024) R Lovell (appointed 16.9.2024) W Lacey (appointed 27.3.2025)
Company Secretary
C Jones
Page 2
BATH MOZARTFEST LIMITED
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2024
REFERENCE AND ADMINISTRATIVE DETAILS 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
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 2024.
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:
-
accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or
-
the accounts do not accord with those records; or
-
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
-
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 2024
| Unrestricted fund Notes £ INCOME AND ENDOWMENTS FROM Donations and legacies 2 177,712 Charitable activities 4 Classical music festivals 206,100 Investment income 3 12,770 Total 396,582 EXPENDITURE ON Raising funds 5 20,224 Charitable activities 6 Classical music festivals 373,987 Other administration costs 8 17,309 Total 411,520 Net gains on investments 18,008 NET INCOME 3,070 Transfers between funds 14 10,000 Net movement in funds 13,070 RECONCILIATION OF FUNDS Total funds brought forward 304,490 TOTAL FUNDS CARRIED FORWARD 317,560 |
Restricted fund £ - - - - - - - - - - (10,000) (10,000) 98,952 88,952 |
31.12.24 31.12.23 Total Total funds funds £ £ 177,712 177,527 206,100 190,766 12,770 12,454 396,582 380,747 20,224 19,812 373,987 347,007 17,309 16,589 411,520 383,408 18,008 18,353 3,070 15,692 - - 3,070 15,692 403,442 387,750 406,512 403,442 |
31.12.24 31.12.23 Total Total funds funds £ £ 177,712 177,527 206,100 190,766 12,770 12,454 396,582 380,747 20,224 19,812 373,987 347,007 17,309 16,589 411,520 383,408 18,008 18,353 3,070 15,692 - - 3,070 15,692 403,442 387,750 406,512 403,442 |
|---|---|---|---|
| 380,747 | |||
| 19,812 347,007 16,589 |
|||
| 383,408 | |||
| 18,353 | |||
| 15,692 - |
|||
| 15,692 387,750 |
|||
| 403,442 |
The notes form part of these financial statements
Page 5
BATH MOZARTFEST LIMITED
BALANCE SHEET 31 DECEMBER 2024
| Unrestricted fund Notes £ FIXED ASSETS Investments 11 241,127 CURRENT ASSETS Debtors 12 41,866 Cash at bank 59,029 100,895 CREDITORS Amounts falling due within one year 13 (24,462) NET CURRENT ASSETS 76,433 TOTAL ASSETS LESS CURRENT LIABILITIES 317,560 NET ASSETS 317,560 FUNDS 14 Unrestricted funds Restricted funds TOTAL FUNDS |
Restricted fund £ 88,952 - - - - - 88,952 88,952 |
31.12.24 Total funds £ 330,079 41,866 59,029 100,895 (24,462) 76,433 406,512 406,512 317,560 88,952 406,512 |
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 |
|---|---|---|---|
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.
The members have not required the company to obtain an audit of its financial statements for the year ended 31 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 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 2024
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 2024
| Notes Cash flows from operating activities Cash generated from operations 1 Net cash used in operating activities Cash flows from investing activities Purchase of fixed asset investments Sale of fixed asset investments Investment management costs Net cash provided by/(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 |
31.12.24 £ (52,085) (52,085) - - - - (52,085) 111,114 59,029 |
31.12.23 £ (23,761) (23,761) (27,067) 2 6 (27,059) (50,820) 161,934 111,114 |
|---|---|---|
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 2024
| 1. | RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM | OPERATING ACTIVITIES | OPERATING ACTIVITIES |
|---|---|---|---|
| 31.12.24 | 31.12.23 | ||
| £ | £ | ||
| Net income for the reporting period (as per the Statement of Financial | |||
| Activities) | 3,070 | 15,692 | |
| Adjustments for: | |||
| Gain on investments | (18,008) | (18,353) | |
| (Increase)/decrease in debtors | (22,680) | 2,309 | |
| Decrease in creditors | (14,467) | (23,409) | |
| Net cash used in operations | (52,085) | (23,761) |
2. ANALYSIS OF CHANGES IN NET FUNDS
| At 1.1.24 | Cash flow | At 31.12.24 | |
|---|---|---|---|
| £ | £ | £ | |
| Net cash | |||
| Cash at bank | 111,114 | (52,085) | 59,029 |
| 111,114 | (52,085) | 59,029 | |
| Total | 111,114 | (52,085) | 59,029 |
The notes form part of these financial statements
Page 9
BATH MOZARTFEST LIMITED
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
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 |
31.12.24 £ 81,427 96,285 177,712 |
31.12.23 £ 79,236 98,291 |
|---|---|---|
| 177,527 |
continued...
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BATH MOZARTFEST LIMITED
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2024
| 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 |
31.12.24 31.12.23 £ £ 12,770 12,454 31.12.24 31.12.23 £ £ 193,579 178,854 12,521 11,912 206,100 190,766 31.12.24 31.12.23 £ £ 20,224 19,812 Direct Costs (see note 7) £ 373,987 31.12.24 31.12.23 £ £ 140,921 138,924 53,548 50,731 28,162 22,164 112,390 97,402 38,966 37,786 373,987 347,007 31.12.24 31.12.23 £ £ 378 386 14,679 14,047 2,250 2,150 2 6 17,309 16,589 |
31.12.23 £ 12,454 31.12.23 £ 178,854 11,912 |
31.12.23 £ 12,454 31.12.23 £ 178,854 11,912 |
|---|---|---|---|
| 190,766 | |||
| 31.12.23 £ 138,924 50,731 22,164 97,402 37,786 |
|||
| 347,007 | |||
| 31.12.23 £ 386 14,047 2,150 6 16,589 |
|||
| 16,589 |
continued...
Page 11
BATH MOZARTFEST LIMITED
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2024
9. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 December 2024 nor for the year ended 31 December 2023.
TRUSTEES' EXPENSES
There were no trustees' expenses paid for the year ended 31 December 2024 nor for the year ended 31 December 2023.
10. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
| Unrestricted fund £ INCOME AND ENDOWMENTS FROM Donations and legacies 176,970 Charitable activities Classical music festivals 190,766 Investment income 12,454 Total 380,190 EXPENDITURE ON Raising funds 19,812 Charitable activities Classical music festivals 347,007 Other administration costs 16,589 Total 383,408 Net gains on investments 18,353 NET INCOME 15,135 Transfers between funds 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 |
Total funds £ 177,527 190,766 12,454 |
|---|---|---|
| 380,747 | ||
| 19,812 347,007 16,589 |
||
| 383,408 | ||
| 18,353 | ||
| 15,692 - |
||
| 15,692 387,750 |
||
| 403,442 |
continued...
Page 12
BATH MOZARTFEST LIMITED
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2024
11. FIXED ASSET INVESTMENTS
| FIXED ASSET INVESTMENTS | |
|---|---|
| Listed | |
| investments | |
| £ | |
| MARKET VALUE | |
| At 1 January 2024 | 312,071 |
| Revaluations | 18,008 |
| At 31 December 2024 | 330,079 |
| NET BOOK VALUE | |
| At 31 December 2024 | 330,079 |
| At 31 December 2023 | 312,071 |
| There were no investment assets outside the UK. | |
| Cost or valuation at 31 December 2024 is represented by: | |
| Listed | |
| investments | |
| £ | |
| Valuation in 2021 | 14,588 |
| Valuation in 2022 | (5,534) |
| Valuation in 2023 | 18,353 |
| Valuation in 2024 | 18,008 |
| Cost | 284,664 |
| 330,079 |
| 12. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | ||
|---|---|---|---|
| 31.12.24 | 31.12.23 | ||
| £ | £ | ||
| Trade debtors | 12,090 | 396 | |
| Other debtors | 29,776 | 18,790 | |
| 41,866 | 19,186 |
continued...
Page 13
BATH MOZARTFEST LIMITED
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2024
13. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
| Trade creditors Other creditors Accruals and deferred income 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 TOTAL FUNDS Comparatives for movement in funds Unrestricted funds General fund Restricted funds Bachfest fund TOTAL FUNDS |
At 1.1.24 £ 304,490 98,952 403,442 follows: Incoming resources £ 396,582 396,582 At 1.1.23 £ 279,355 108,395 387,750 |
Net movement in funds £ 3,070 - 3,070 Resources expended £ (411,520) (411,520) Net movement in funds £ 15,135 557 15,692 |
31.12.24 31.12.23 £ £ 9,025 7,370 5,884 8,070 9,553 23,489 24,462 38,929 Transfers between At funds 31.12.24 £ £ 10,000 317,560 (10,000) 88,952 - 406,512 Gains and Movement losses in funds £ £ 18,008 3,070 18,008 3,070 Transfers between At funds 31.12.23 £ £ 10,000 304,490 (10,000) 98,952 - 403,442 |
|---|---|---|---|
14. MOVEMENT IN FUNDS
continued...
Page 14
BATH MOZARTFEST LIMITED
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2024
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 380,190 (383,408) Restricted funds Bachfest fund 557 - TOTAL FUNDS 380,747 (383,408) A current year 12 months and prior year 12 months combined position is as follows: Net movement At 1.1.23 in funds £ £ Unrestricted funds General fund 279,355 18,205 Restricted funds Bachfest fund 108,395 557 TOTAL FUNDS 387,750 18,762 |
Gains and Movement losses in funds £ £ 18,353 15,135 - 557 18,353 15,692 Transfers between At funds 31.12.24 £ £ 20,000 317,560 (20,000) 88,952 - 406,512 |
|---|---|
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 £ 776,772 557 777,329 |
Resources expended £ (794,928) - (794,928) |
Gains and Movement losses in funds £ £ 36,361 18,205 - 557 36,361 18,762 |
|---|---|---|---|
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continued...
BATH MOZARTFEST LIMITED
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2024
15. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31 December 2024.
Page 16
BATH MOZARTFEST LIMITED
DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2024
| 31.12.24 | 31.12.23 | |
|---|---|---|
| £ | £ | |
| INCOME AND ENDOWMENTS | ||
| Donations and legacies | ||
| Mozartfest Society and donations | 81,427 | 79,236 |
| Sponsorship and grants | 96,285 | 98,291 |
| 177,712 | 177,527 | |
| Investment income | ||
| Dividend and interest income | 12,770 | 12,454 |
| Charitable activities | ||
| Ticket sales | 193,579 | 178,854 |
| Other festival income | 12,521 | 11,912 |
| 206,100 | 190,766 | |
| Total incoming resources | 396,582 | 380,747 |
| EXPENDITURE | ||
| Raising donations and legacies | ||
| Sponsorship and donations | 20,224 | 19,812 |
| Charitable activities | ||
| Artists' fees and expenses | 140,921 | 138,924 |
| Marketing | 53,548 | 50,731 |
| Public relations and communication | 28,162 | 22,164 |
| Other festival production and performance costs | 112,390 | 97,402 |
| Administration | 38,966 | 37,786 |
| 373,987 | 347,007 | |
| Other administration costs | ||
| Bank charges | 378 | 386 |
| Finance costs | 14,679 | 14,047 |
| Independent examiner's fees | 2,250 | 2,150 |
| Investment management fees | 2 | 6 |
| 17,309 | 16,589 | |
| Total resources expended | 411,520 | 383,408 |
| Net expenditure before gains and losses | (14,938) | (2,661) |
| Realised recognised gains and losses | ||
| Realised gains/(losses) on fixed asset investments | 18,008 | 18,353 |
| Net income | 3,070 | 15,692 |
This page does not form part of the statutory financial statements
Page 17