PORTSMOUTH MUSIC FESTIVAL FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2024 Trustees, annual report for the year ending 30th April 2024 Registered charlty name: PORTSMOUTH MUSIC FESTIVAL (PMF) Registered Charlty Number: 1045780 Charity's principal address: 34 Woodlands Avenue Emsworth Hants P010 7QE The names of the trustees at this time are". Andrew Mcvitie Chairman Sandra Lawk)r Vice Chairman Carol Frogley Section Representative Wendy Lane Section Representative lan Frogley Treasurer 1) The trustees present Iheir report and financial statements for the year ended 30 April 2024. The accounts have been prepared in accordance with the accounting policies set out in note 1 of the accounts and comply with the charity's goveming documentation and applicable law and Ihe requirements of Ihe statement of recommended practice 'accountlng and reporting by charities, 2005 and has due regard to guidance publlshed by Ihe charity commission on public benefit. 2) Structure Govemance and Management a) The goveming document of the charity is the Constitution, which was adopted on 2P September 2000. The Conslitution established the objects and powers of the charity. b) Portsmouth Music Festival has been a registered charity since 12th April 1995. c) Membership is offered to local people who share in the vision of the objectives of the charity. d) The Trustees are elected annually at the AGM from members of the association. e) The Management Committee is elected by the members al the Annual General Meeting. n The Festival is affiliated lo and active in the British & I ntemational Federation of Feslivals for Music, Dance and Speech and a Patron of the All England Dance Association. 3) Objectlves and Activilles a) The vision of the Festlval Is to celebrate and promote participation in the performing arts by presenting an annual festival, enhanced by competition, which encourages performers from across the community and to promote excellence by providing professional adjudication. 4) The charity's objects and principal activities continue to: a) be that of advancing, promoting and encouraging generalty, the study and practice of the arts of music, dance, speech, literature and acting in all their branches. bl provide a platform for public performance, enhanced by competition, with indivldual assessment by adjudicators of national repute; and c) preserve and build upon the cultural heritage and ensure the future of the Festival through changing social and economic conditions. 5) In planning our activilies for the year, we kept in mind the Charity Commission's guidance on public benefit at our Trustee meetings. a) The focus of our aclivities remains the staging of an annual festival in which every perfomiance is professionally assessed and marked. This benefits the children, young people and adults by their participation in cultural activity, adding to their educatlon in the arts, developing their self- confidence and increasing their social skills. b) We welcome all children, young people and adults regardless of personal background, faith, gender or personal circumstances and we believe this philosophy of openness to all enriches everyone through the sharing of the talents, skills aptitudes and life experiences of our children, young people aged 3 to 18 years, adults and volunteers. 6) It is the policy of the charity to maintain unrestricled funds, which includes the free reseNes of the charity, at a level, which provides sufficient funds lo meet the ongoing operating expenditure, 71 Achievements and perfonnance The 2024 Festival was a moderate success, bolh artistically and financially. Most sections were reasonably successful following the serious decline last year due to the Covid pandemic. There was a notsble increase in entries for Vocal. Strings and Speech & Drama were sadly lacking in entries. Dance as usual was well supported running to eight days this year. The Final Concert was quile well attended. This year it was held at Crookhorn School, Waterlooville. Elias Simojoki (Trumpet) won the Solent Symphony Orchestra Concerto Award 2025, Ben Ward {Guitar) and Mia Drover (Piano) won the Ports Fest PMF Winners Showcase Prize and Katie Ho (Violin) and Priscilla Ho (Harp) were presented with the Chairman's Cup. Also Attica (Rock & Pop) were presented with a free rehearsal session at Casemates studios in Portsmouth. 8) Summary Financially, this year the income over expenditure was £3,839. Dance made a significant contribution to this sum, although, with a couple of eX￿ptions, the music ￿tionS also covered their expenses. 9) Year End Account The income was higher than 2022123, mainty due to the increase in entries across most of the sections. Expenditure was similar to last year although we changed the venue for most of the music sections to the Menuhin Room In Portsmouth Central Library 10) At the year end the charity has reseDies of £ 33,745 (2023: £ 29,906) which is to be reinvesled in future music festivals. 11) Planning for 2025 The committeé remains concerned that the festival relies on a small number of volunteers. Encouragingly a few new volunteers have joined, notably a local vocal teacher has taken over the Vocal section. The management committee will continue to encourage new volunteers to help run the festival. It will continue to promote the festival and take appfopriate measures to ensure the financial viability of the festiV81 is malntained. 12) Portsmouth Music Festival recognlses that an effective board of trustees Is essentlal If the charily is to be effective in achieving its objects. The board must seek to be representative of the people with whom the charity works and must have available to all of the knowledge and skills required to run the charlty, Indlvldual twstees must have sufficient knowledge. both of Irusteeship in general and of the Ch8rity's activities, to enable them to carry out their role and to represent the Charity at meetings and other events. Should any new person wish to put themselves fopNard as trustee, please make an application in writing to the board, 13) Declaration The Trustees declare thal they have approved the trustees, report above Signed on behalf of the charity's trustees l Frogley Treasurer Portsmouth Music Festival Date.. 21 November 2024 INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF PORTSMOUTH MUSIC FESTIVAL FOR THE YEAR ENDED 30 APRIL 2024 I havc ¢xamined the attached account and statement which have been prepared on the receipts and payments basis. We report on the accounls of Portsmouth Music Festival (the Charity) for the year ended 30 April 2024 which are set out on pages 3 to 5. Respective responsibilities of trustees and exydminers The charity's trustees are responsible for the preparation of the accounts. The charity's trustees consider that an audit is not required this year under section 144 of the Charities Act 2011 (the Charities Act) and that an independent examination is needed. It is our responsibility; to examine the accounts under section 145 of the Charites Act; to follow the procedures laid down in the General Directions given by the Charity Commission (under section 145(5) (b) of the Charities Act); and, to state whether particular matters have come to our attention. Basis of independent examiners, report My examination was carried out in accordance with the general Directions given by th¢ Charity Commission. An examination includes a review of the accounting records kept by th¢ Charity and a comparison of the accounts presented with those records. It also includes consideration of any uniisual items or disclosures in the accounts, and seeking explanations from you as trustees concerning any such matt¢rs, The procedures undertaken do not provide all the evidence that would be required in an audit and, cons¢quently no opinion is given as to whether the accounts pre￿nt a 'true and fair view, and th¢ report is limited to those matters set out in the statement below. Independent examiners, statement In connection with my ¢xamination, no matter has come to our attention: l) which giv¢s us reasonable cause to believe that in, any material respect, the requirements to keep accounting records in accordance with section 130 of the Chariti¢s Act; and to prepare accounts which accord with the accounting records and comply with the accounting requirements of the Charities Act have not been met. or, INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF PORTSMOUTH ￿fusIc FESTIVAL FOR THE YEAR ENDED 30 APRIL 2024 2) to which, in our opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached. Mrs Gillian Mclnlosh FCA for and on behalf of MMO Limited Chartered Accountants Wellesley House 204 London Road Waterlooville Hampshire P07 7AN Date; 24 NI0￿￿￿6￿ 202Ak PORTSMOUTH MUSIC FESTIVAL RECEiYfs AI¥D PAYMKNTS ACCOUNT~ GENERAL FUND FOR THE YEAR ENDED JO APRIL 2024 2024 2023 RECEIPTS Entries Subscriptions Admissions and programme sales Donations Isponsors Concerts Misc¢llaneous Investmcnl income 17,385 85 8,360 882 190 15,200 120 7,736 685 37 78 158 27,060 23,856 PAYMENTS Other expenditure: rundraising and publicity costs Management and administration M(Isic Festival costs 3,845 1,235 18,141 2,269 992 17,759 23,221 21,020 (Deficit)IExcess of receipts over payments 3,839 2.836 Cash and bank deposits brought forward 29,906 27,070 Cash and bank deposits carried forward 33,745 29,906 PORTSMOUTH MUSIC FESTIVAL STATEMENT OF ASSETS AND LIABILITIES AS AT 30 APRIL 2024 2024 2023 Cash and bank deposits - general fund Bank - Business reserve account 6,769 1,694 Bank - Current accounts 6,120 7,438 Virgin Money Charity Account 20,856 20,774 33.745 29,906 Fixed assets used by the Charity Trophies with a value of £8,650 are held by th¢ charity Approved by the trustees on 21 November 2024 and signed on their behalf by PORTSMOUTH MUSIC FESTIVAL NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 30 APRIL 2024 l Accountancy Basls These accounts have been prepared on the receipts and payments basis. 2 Unreslrlcted Funds All receipts and payments relate to general unrestricted funds. The investment income arises from the bank account funds. 3 ManAgement and administration Management and administration costs relate to postage, stationery, telephone and the general costs of administering the charity. 4 Fundraising and Publicity Costs Fundraising and publicity costs are (he dircct costs of fundraising for th¢ charity. 5 Music Festival Costs Music Festival costs are costs directly attributable to events carried out by the charity. 6 Cash and Bank Deposits All cash and bank deposits are held in unrestricted general funds.