**Charity Registration No. 1079073** **Company Registration No. 3853371 (England and Wales)** ## **THE WINCHFIELD FESTIVAL** **ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2022** ## **THE WINCHFIELD FESTIVAL** ## **LEGAL AND ADMINISTRATIVE INFORMATION** |**Trustees**|T.C.L. Cary| |---|---| ||S J P Green| ||R.L. Milnes-James| |**Charity number**|1079073| |**Company number**|3853371| |**Registered office**|C/O William Sturges Llp| ||Burwood House| ||14-16 Caxton Street| ||London| ||SW1H 0QY| |**Independent examiner**|Susan Kumar ACA| ||Holden Granat| ||23 Oatlands Drive| ||Weybridge| ||Surrey| ||KT13 9LZ| |**Bankers**|Barclays Bank Plc| ||Leicester| ||Leicestershire| ||LE87 2BB| |**Solicitors**|William Sturges Llp| ||Burwood House| ||14-16 Caxton Street| ||London| ||SW1H 0QY| ## **THE WINCHFIELD FESTIVAL** ## **CONTENTS** ||**Page**| |---|---| |Charity's report|1 - 2| |Independent examiner's report|3| |Statement of financial activities|4| |Balance sheet|5| |Notes to the financial statements|6 – 11| ## **THE WINCHFIELD FESTIVAL** ## **CHARITY'S REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)** ## _**FOR THE YEAR ENDED 31 OCTOBER 2022**_ The trustees present their report and financial statements for the year ended 31 October 2022. The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's governing document, the Companies Act 2006 and “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)” (as amended for accounting periods commencing from 1 January 2019). ## **Objectives and activities** The charity's objects are to advance public education in music, art, drama and other performing arts in such ways as are charitable at law and in particular, through the provision of a festival of music and performing arts and there has been no change in these during the year. The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake. The main activities in relation to the objects of the charity for the public benefit are: 1. A biennial music festival 2. Support to musical education in local schools throughout the school year. ## **Achievements and performance** The Festival hosted two highly successful concerts in St Mary’s Winchfield in September 2022 with Sophie Rosa performing JS Bach’s unaccompanied violin works over two nights. The concerts raised £1,297 for humanitarian aid in Ukraine. The committee is well advanced in its preparations for the next Festival which will be held 23[rd] June – 1[st] July 2023. The Festival’s Outreach Programme entered its third year, building on the partnership with Hampshire Music Services (HMS) delivering musical education to primary schools within the Hart District of north east Hampshire. The Outreach Programme and the David Kaye Award scheme are proving to be highly successful in helping to raise the standards of music education for Hart’s Key Stage 2 children. Under the Outreach Programme, HMS delivered 135 (126) hours tuition to 15 (14) schools in the academic year 2021/22 (2020/21). This year, the David Kaye Award funded the purchase of additional instruments and IT equipment which are available for HMS to support the delivery of its music lessons to the schools taking part in the Outreach Programme. The Charity continues to be supported by generous donations from two principal benefactors, receiving £19k (£19.8k) in the year to October 2022. The donations from the benefactors support the running of the Charity and allow it to fund the Outreach Programme and the David Kaye Awards. ## **Financial review** The financial position of the charity allows it to commit to providing a rolling commitment to funding the Outreach Programme in partnership with HMS, which in turn allows HMS and the schools taking part in the programme, to incorporate the musical tuition into the school timetable At October 2022, £39,388 (£46,718) of the charity’s funds have been set aside to support the Outreach Programme and David Kaye Award. At 31 October 2022 the charity had reserves of £80,823 (£80,025), (or £41,435 (£33,307)) net of the funds set aside for the Outreach Programme and David Kaye Award). The Charity aims to hold sufficient reserves to fund its commitments to the Outreach Programmes, the financing of the next Festival and retain ticket prices at affordable levels. - 1 - THE WINCHFIELD FESTIVAL CHARITYS REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 OCTOBER 2022 The trustees have assessed the major risks to wthich the Is expc8&J. aThJ are saiisfied thal systems ara in pla¢0 to miti.gate expwufe to Ihe moior risk¥. Structur•. 9ov•rnan¢• am* manag•m•nt The charity ts a compary Ilm6ted by warantw. The tNg18•9. vtho arè a180 thè direckn8 for wrpo¥e of company la4Y, aryl 8er¥ed durirKJ the year and up to the dale of ¥ignature of ftnanrial Sta1*n￿ts m.. T.C.L. Cary S J. P. Green R.L. Milnfj8-Jam6J New Iruslees ar• ¥el8ct•d and apwnt•d by thè existing Tnmtees fdknMi¥J an Interv** to detenrmng thelr sultsbS1ity. Non8 ofthe tnJst8e8 has any knofl¢lal irrter•st in the cc*npany. All of Ihb tr￿100$ afe momb8r8 of the comp&)y and guarantee to contribLrte £1 in the event of a windirwj up. The chartV¥ report was approved by Bo8r¢ of Tn*t￿. R.L. MIlne•￿arn88 Trustee Dated.. ## **THE WINCHFIELD FESTIVAL** ## **INDEPENDENT EXAMINER’S REPORT** ## _**FOR THE YEAR ENDED 31 OCTOBER 2022**_ I report to the trustees on my examination of the financial statements of The Winchfield Festival (the charity) for the year ended 31 October 2022. ## **Responsibilities and basis of report** As the trustees of the charity (and also its directors for the purposes of company law) you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006 (the 2006 Act). Having satisfied myself that the financial statements of the charity 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 the charity’s financial statements carried out under section 145 of the Charities Act 2011 (the 2011 Act). In carrying out my examination I have followed all the applicable 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 confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect: - 1 accounting records were not kept in respect of the charity as required by section 386 of the 2006 Act; or - 2 the financial statements do not accord with those records; or 3 the financial statements 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 financial statements 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 financial statements to be reached. Susan Kumar ACA Holden Granat 23 Oatlands Drive Weybridge Surrey KT13 9LZ 22 December 2022 Dated: ......................... - 3- ## **THE WINCHFIELD FESTIVAL** ## **STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT** ## _**FOR THE YEAR ENDED 31 OCTOBER 2022**_ |Statement of Financial Activities
**Unrestricted**
**funds**
**2022**
Notes
**£**
**Income from:**
Donations and legacies
3
7,445
Charitable activities
4
2,950
Investments
5
125
10,520
**Expenditure on:**
Other
6
(110)
Charitable activities
7
(8,924)
Total resources expended
(9,034)
Net income/expenditure for the year
Net movement in funds
1,486
Transfers between funds
6,642
Net movement in funds
8,128
Fund balances at 1 November 2021/2020
33,307
Fund balances at 31 October 2022/2021
41,435|**Restricted**
**funds**
**2022**
**£**
19,000
170
19,170
(19,858)
(19,858)
(688)
(6,642)
(7,330)
46,718
39,388|**Total**
**2022**
**Total**
**2021**
**£**
**£**
26,445
22,351
2,950
31,740
295
364
29,690
54,455
(110)
-
(28,782)
(59,888)
(28,892)
(59,888)
798
(5,433)
-
-
798
(5,433)
80,025
85,458
80,823
80,025| |---|---|---| The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuous activities The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006 - 4- THE WINCHFIELD FESTIVAL BALANCE SHEET AS Af31 OCTOBER 2022 2022 2021 Currènt Debtors Cash and bank and In hand 12 TTO 84,243 81.325 Cr•dIt￿. amounts f•ll du• vAthln en• >•Ar 13 (3,420) 11,3001 Net current •88ets InGom• fvnd• Re81ricled funds Unrgslricted fvJnd8 14 15 39.388 41435 48.718 33.307 The cornpany18 entttled to the exemptton from the autht rwArem•rt ccffilalrod In 8Klon 4TT of the Companlo8 Act 2006. ￿ th8 year endod 31 Octobor 2022. The tru8tees ecknowledge Ih•ir respon8ibifilies fry erfjurlng that th• tharity keeps accounting records whlch comply ￿ty"On 386 01 the Act and for prep8riNJ finana81 stslements ¥thich gNe a true and fair view of the slate of affairs of tho ¢ompany as at the end of flnaniial y88r and of its inc4)mlng resources and applicallon of resource8, induding its income and expgndrture, for the finano81 year in acctydanc* ￿th the requir¢menl$ of sections 394 and 395 and which otheTh*ise comply with the rnquiremth)ts of the Compan188 20￿ relallNJ to rinandal statements. so far as *icabia to th¢ Company. Th• members have not requlred the company to obtyn an autht of tts ffn8rdd slatemenl8 lor the year In qUa￿On in accordanc• wth sectlon 476. Th08e finanual stslements havo b8en wepwed In accord#n¢o ¥*ith thg provim *icabfe to compan165 8ublect to the small companies rngimo. Th8 financial st8tem8nts opyoved by the TnAte8# ￿ .. R.L. Mllno•-J8m•• Tru8tse Company Reglstr•tlon No. 3853371 ## **THE WINCHFIELD FESTIVAL** ## **NOTES TO THE FINANCIAL STATEMENTS** ## _**FOR THE YEAR ENDED 31 OCTOBER 2022**_ ## **1 Accounting policies** ## **Charity information** The Winchfield Festival is a private company limited by guarantee incorporated in England and Wales. The registered office is C/O William Sturges Llp, Burwood House, 14-16 Caxton Street, London, SW1H 0QY. ## **1.1 Accounting convention** The financial statements have been prepared in accordance with the charity's governing document, the Companies Act 2006 and “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)” (as amended for accounting periods commencing from 1 January 2019). The charity is a Public Benefit Entity as defined by FRS 102. The charity has taken advantage of the provisions in the SORP for charities applying FRS 102 Update Bulletin 1 not to prepare a Statement of Cash Flows. The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £. The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below. ## **1.2 Going concern** At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements. ## **1.3 Charitable funds** Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives. Restricted funds are subject to specific conditions by donors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements. Endowment funds are subject to specific conditions by donors that the capital must be maintained by the charity. ## **1.4 Income** Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received. Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation. Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset. - 6 - ## **THE WINCHFIELD FESTIVAL** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** ## _**FOR THE YEAR ENDED 31 OCTOBER 2022**_ ## **1 Accounting policies** ## **1.5 Expenditure** Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably. Irrecoverable VAT is charged as a cost against the activity for which the expenditure was incurred. Support costs are those functions that assist the work of the charity but not directly as part of undertaking charitable activities. ## **1.6 Cash and cash equivalents** Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities. ## **1.7 Financial instruments** The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments. Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument. Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously. ## _**Basic financial assets**_ Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised. ## _**Basic financial liabilities**_ Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method. ## _**Derecognition of financial liabilities**_ Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled. - 7 - ## **THE WINCHFIELD FESTIVAL** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** ## _**FOR THE YEAR ENDED 31 OCTOBER 2022**_ ## **2 Critical accounting estimates and judgements** In the application of the charity’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods. ## **3 Donations and legacies** |Donations and gifts
Grants receivable
Donated goods and services
For the year ended 31 October 2022/2021
For the year ended 31 October 2021|**Unrestricted**
**funds**
**2022**
**£**
1,605
5,000
840
7,445
3,351|**Restricted**
**funds**
**2022**
**£**
19,000
19,000
19,000|**Total**
**2022**
**Total**
**2021**
**£**
**£**
1,605
1,445
24,000
19,800
840
1,106
26,445
22,351
22,351| |---|---|---|---| ## **4 Charitable activities** |Sales within charitable activities
**5 Investments**
**Unrestricted**
**funds**
**2022**
**Restricted**
**funds**
**2022**
Interest Receivable
125
170|**Festival**
**Festival**
**2022**
**2021**
**£**
**£**
2,950
31,740
2,950
31,740
**Total**
**2022**
**Total**
**2021**
**£**
**£**
295
364| |---|---| - 8 - ## **THE WINCHFIELD FESTIVAL** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** ## _**FOR THE YEAR ENDED 31 OCTOBER 2022**_ |**6 Other**
Other trading activities
**7 Charitable activities**
Outreach Programme
David Kaye Award
Restricted
Festival expenditure
Grant funding of activities (see note 8)
Share of support costs (see note 9)
Share of governance costs (see note 9)
**Unrestricted**
**8 Grants paid**
Grants to institutions
DEC - Ukraine appeal - donations raised from Sophie Rosa concerts
St Mary's Winchfield Parochial Church Council|**Unrestricted**
**funds**
**2022**
**Unrestricted**
**funds**
**2021**
**£**
**£**
110
-
**2022**
**2021**
**£**
**£**
10,193
9,495
9,665
2,693
**19,858**
**12,188**
1,868
40,851
2,536
1,000
2,884
3,675
1,636
2,174
**8,924**
**47,700**
**28,782**
**59,888**
**Festival**
**Festival**
**2022**
**2021**
**£**
**£**
1,297
-
1,239
1,000| |---|---| ||2,536
1,000| - 9 - ## **THE WINCHFIELD FESTIVAL** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** ## _**FOR THE YEAR ENDED 31 OCTOBER 2022**_ |**9 Support costs**
Printing, postage and stationery
Insurance
Liquor licence
Flowers, carpet fitting and misc.
Web page and social media
Professional fees
Independent examination
Analysed between
Charitable activities|**Support costs**
**£**
-
658
70
13
2,143
2,884
2,884|**Governance**
**costs**
**£**
40
1,596
1,636
1,636|**2022**
**2021**
**£**
**£**
-
739
658
1,483
70
70
13
336
2,143
1,047
40
1,060
1,596
1,114
4,520
5,849
4,520
5,849| |---|---|---|---| ## **10 Trustees** None of the trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year. ## **11 Employees** There were no employees during the year |**12 Debtors**
Amounts falling due within one year
Prepayments and accrued income
**13 Creditors: amounts falling dues within one year**
Accruals and deferred income|**2022**
**2021**
**£**
**£**
770
-
**2022**
**2021**
**£**
**£**
3,420
1,300| |---|---| - 10 - ## **THE WINCHFIELD FESTIVAL** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** ## _**FOR THE YEAR ENDED 31 OCTOBER 2022**_ ## **14 Restricted funds** The income funds of the charity include restricted funds comprising the following unexpended balances of donations and grants held on trust for specific purposes |**Outreach fund1 **
**David Kaye Award2**|**Balance at**
**30-Oct-21**
**£**
33,145
13,573
46,718|**Income**
**£**
9,000
10,000
19,000|**Transfer**
**Interest inc.**
**£**
**£**
(6,642)
81
89
(6,642)
170
**Movement in funds**|**Balance at**
**Expenditure**
**31-Oct-22**
**£**
**£**
(10,193)
25,391
(9,665)
13,997
(19,858)
39,388| |---|---|---|---|---| Note 1. The Outreach Fund has been established to work with schools in north-east Hampshire to improve the standard of musical opportunities for all pupils. The current focus is on Key Stage 2 Note 2. The David Kaye Award provides funding to schools in the Hart District to increase the understanding, appreciation of, and participation in music. ## **15 Unrestricted funds** The income funds of the charity include unrestricted funds comprising the following unexpended balances of donations and grants held on trust for specific purposes |||**Balance at**||**Movement**|||**Balance at**| |---|---|---|---|---|---|---|---| |||**30-Oct-21**|**Income**|**Transfer**|**Interest inc.**|**Expenditure**|**31-Oct-22**| |||**£**|**£**|**£**|**£**|**£**|**£**| ||**General reserves**|33,307|10,395|6,642|125|(9,034)|41,435| |**16 **|**Analysis of net assets between funds**||||||| ||||||**2022**|**2022**|**2022**| ||Fund balances at 31|October 2022 are|||**Unrestricted**|**Restricted**|**Total**| ||represented by||||**£**|**£**|**£**| ||Current assets/(liabilities)||||41,435|39,388|80,823| ||||||**2021**|**2021**|**2021**| ||Fund balances at 31|October 2021 are|||**Unrestricted**|**Restricted**|**Total**| ||represented by||||**£**|**£**|**£**| ||Current assets/(liabilities)||||33,307|46,718|80,025| ## **17 Related party transactions** There were no disclosable related party transaction during the year (2021 - none) - 11 -