Charity registration number 1095723
Company registration number 04242801 (England and Wales)
THE TWO MOORS FESTIVAL LIMITED
COMPANY LIMITED BY GUARANTEE
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

THE TWO MOORS FESTIVAL LIMITED
COMPANY LIMITED BY GUARANTEE
LEGAL AND ADMINISTRATIVE INFORMATION
Royal Patron
HRH The Duchess of Edinburgh GCVO
Trustees
Mr. A Welch {Chairman)
Mr C Beer (VI￿ Chairman and
Treasurer)
Mr. NAlan
Mr. R Fletcher
Dr. C Taylor
Mr. J Wllan
Mr J Hamilton
Ms S Tooley
Dr C Richards
(Appointed 20 January
2025}
(Appointed 20 January
2025)
(Appointed 20 January
2025)
Mrs C Llewellyn
Mrs M Shaw
Artistic Director
Tamsin INaley-Cohen
General Manager
Nicola Semple
Charity number
1095723
Company number
04242801
Registered office
Lime Court
Pathfields Business Park
South Molton
Devon
United Kingdom
EX36 3LH
Independent examiner
Matthew Webb FCA
Azets Audit SeNices
UnitA, Woodlands Court
Truro Business Park
Truro
Comwall
United Kingdom
TR4 9NH
Bankers
Barclays Bank PIC
38 Boutport Street
Bamstaple
Devon
United Kingdom
EX31 1RX

THE TWO MOORS FESTIVAL LIMITED
COMPANY LIMITED BY GUARANTEE
CONTENTS
Page
Trustees, report
Independent examinerfs report
Statement of financial activities
Balance sheet
Notes to the financial statements
8-13

THE TWO MOORS FESTIVAL LIMITED
COMPANY LIMITED BY GUARANTEE
TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT)
FOR THE YEAR ENDED 31 DECEMBER 2024
The Trustees present their report and financial statements for the year ended 31 De￿mber 2024.
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)"
(effective 1 January 2019).
Objectives and activities
The charity's objectives are to advan￿ the education of the public in the arts, and in particular but not exclusively, in
music and the visual arts, to include the provision of a festival and music and arts competitions on Exmoor,
Dartmoor and surrounding areas.
The Trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the
charity should undertake.
Achievements and performance
The charity held another successful fests'val in October 2024. The theme of the festival was The Music of Time. The
Exmoor Weekend ran from 3-6 October 2024, and included fine performances by the Carducci Quartet, the
harpsichordist Mahan Esfahani and Connaught Brass. The opening cOn￿rt was a song recital in Lynton by
Roderick Williams and Christopher Glynn, which included Vaughan Williams's Songs of Travel and a world premiere
of a song cycle by Freya Wdley-cohen, specially Commissioned for the festival. Another highlight was the
'Encounters with Gershwin. concert in South Molton given by Lizzie Ball and James Pearson.
The Dartmoor weekend ran from 10-13 October 2024 and included a sell out concert of renaissance choral music
by Stile Antico in Okehampton, a performance by the recorder ensemble Palisander, a recital by our Artistic Director
Tamsin-waley-cohen, and recitals by pianist George Xiaoyuan Fu. The Festival Finale was a performance in
Exeter Castle of "Equinox" a work taking the audience through a 24 hour cyde of words, music and pictures,
composed and perfomied by violinist Henning Kraggerud.
The Young Musicians Competition is a particular highlight of the annual programme, and brings together exceptional
junior musicians from all over the South West to compete for winning places. This year it again took place in April at
Taunton School, by kind permission of the Headmaster and Director of Music. The four winners perfomied in a
concert in Chagford as part of the Festival's Dartmoor Weekend.
The Trustees would like to record their appreciation of the work of Artistic Director Tamsin Waley-cohen, and of
General Manager Nicola Semple and her excellent team who run the festival wth great efficiency and enthusiasm.
The festival runs across a wide and diverse geographic area and the organisation involved is never straightforward.
The Trustees would also like to the thank the dedicated team of volunteers who help during the festival.
The Trustees are also deeply grateful to the Friends, Associates, Benefactors and Patrons of the Festival, and the
other major donors and grant giving foundations, without whom it could not continue to produce such wonderful
music in this beautiful part of the country.

THE TWO MOORS FESTIVAL LIMITED
COMPANY LIMITED BY GUARANTEE
TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
We are particularly grateful to the Exeter and District Classic Music Trust for their grant of £12,000 and their loyal
and continuing support for the festival. Vve are also very grateful for the generous support from the following trusts
and foundations
Boris Karloff Foundation
De Laszlo Foundation
David Family Foundation
Fidelio Charitable Trust
The Marchus Trust
The Golsoncott Foundation
Hinrichsen Foundation
John S Cohen Foundation
Maria Bjornson Memorial Fund
Queen Anne's Gate Foundation
Reed Foundation
The Cave Trust
Okehampton United Charities
The Foyle Foundation
The Vaughan Wlliams Foundation
The Francis Routh Trust
Tedworth Charitable Twst (for the Young Musicians Competition)
And several other foundations
Financial review
The Trustees are pleased to report that the charity made a surplus of £26.581 in the year (2023 - deficit of £8.149).
As a result the charity ended the year with unrestricted funds of £40,196 (2023 - £21,688) and restricted funds of
£8,073 (2023- £nil). The restricted funds relate to funds raised for the Young Musicians Competition in 2025.
While box office receipts were broadly in line with 2023, the number of tickets sold was significantly higher as the
festival did not have any high cost catered events in the year. The Trustees were particularly pleased to note that
there was a large number of new audience members this year, which suggests that the new approach to marketing
the festival is paying dividends. Costs We￿ also carefully controlled and the fundraising programme was successful
in raising additional funding for the festival.
The revised Friends Scheme has been suc￿Ssful in attracting some larger donors, and the focus going fO￿ard will
be on expanding the numbers of Friends at the entry levels.
It is the policy of the charity that unrestricted funds which have not been designated for a specific use should be
maintained at a level of at least £30,000. The Trustees consider this to be a prudent sum given the uncertainty of
their income and the significant fixed costs associated with the preparation and production of the annual festival. It
is the intention of the Trustees to gradually increase the level sufficient to fund the festival in a year where other
factors make fundraising more challenging.
The Trustees have the power to invest in such assets as they feel appropriate to the charity. At present any surplus
monies are held on deposit at bank.
The Trustees have assessed the major risks to which the charity is exposed. both financial and operational, and are
satisfied that systems and procedures are in place to mitigate exposure to these risks.
Structure, governance and management
The charity is a company limited by guarantee, incorporated on 28 June 2001 and registered as a charity on 30
January 2003. It is governed by a memorandum and articles of association dated 28 June 2001 as amended on 7
January 2002 and 4 December 2017.

THE TWO MOORS FESTIVAL LIMITED
COMPANY LIMITED BY GUARANTEE
TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
The Trustees, who are also the directors for the purpose of company law, and who served during the year and up to
the date of signature of the financial statements were=
Mr. Awelch (Chairman)
Mr C Beer (Vice Chaimian and Treasurer)
Mr. N Allan
Mr. R Fletcher
Dr. C Taylor
Mr. J Willan
Mr J Hamilton
Ms S Tooley
Mrs. AArnold
Dr C Richards
Mrs C Llewellyn
Mrs M Shaw
Mr M Randall
(Resigned 20 January 2025)
(Appointed 20 January 2025)
(Appointed 20 January 2025)
(Appointed 20 January 2025)
(Appointed 20 January 2025 and resigned 28 April 2025)
The Trustees are appointed by tt)e Board of Trustees following recommendations from the Nominations Committee.
None of the Trustees has any beneficial interest in the company. All of the Trustees are members of the company
and guarantee to contribute £10 in the event of a viinding up.
Statement of Trustees, responsibilities
The Trustees, who are also the directors of The Two Moors Festival Limited for the purpose of company law, are
responsible for preparing the Trustees. Report and the financial statements in accordance with applicable law and
United Kingdom Accounting Standards (United ￿'ngdoM Generally Accepted Accounting Practice).
Company Law requires the Trustees to prepare financial statements for each financial year which give a true and
fair view of the state of affairs of the charity and of the incoming resources and application of resources, including
the income and expenditure, of the charitable company for that year.
In preparing these financial statements, the Trustees are required to..
select suitable accounting policies and then apply them consistently-
observe the methods and principles in the Charities SORP:
make judgements and estimates that are reasonable and prudent., and
prepare the financial statements on the going cOn￿M basis unless it is inappropriate to presume that the charity
will continue in operation.
The Trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at
any time the financial position of the charity and enable them to ensure that the financial statements comply with the
Companies Act 2006. They are also responsible for safeguarding the assets of the charity and hence for taking
reasonable steps for the prevention and detection of fraud and other irregularities.

THE TWO MOORS FESTIVAL LIMITED
COMPANY LIMITED BY GUARANTEE
TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
The Trustees, report was approved by the Board of Trustees.
Ckakles Eeek
.Ano*e¥Y.1WÉ￿h.,mè1}.3b: 2025 09..29 GMT+i
Mr. A Welch {Chairman)
Trustee
.CJisV.Le&ao£r,'JAo¥23..2025 15".03 GMT+]!
Mr C Beer (Vice Chairman and Treasurer)
Trustee
2510512025

THE TWO MOORS FESTIVAL LIMITED
COMPANY LIMITED BY GUARANTEE
INDEPENDENT EXAMINER'S REPORT
TO THE TRUSTEES OF THE TWO MOORS FESTIVAL LIMITED
I report to the Trustees on my examination of the finanaal statements of The Two Moors Festival Limited {the
charity} for the year ended 31 December 2024.
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 accordan￿ 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 examinerfs statement
I have completed my examination. I confimi that no matters have come to my attention in connection with the
examination giving me cause to believe that in any material respect-
accounting records were not kept in respect of the charity as required by section 386 of the 2006 Act; or
the financial statements do not ac￿rd ￿￿th those records" or
the financial statements do not comply with the accounling requirements of section 396 of the 2006 Acl 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 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.
Ma**hGw webb
Maltheiv Wdebb IJLllI 9, 2025 10:17 GMT+ll
Matthew Webb FCA
Azets Audit Services
UnitA, Woodlands Court
Truro Business Park
Truro
Cornwall
TR4 9NH
United Kingdom
Dated: 0910612025

THE TWO MOORS FESTIVAL LIMITED
COMPANY LIMITED BY GUARANTEE
STATEMENT OF FINANCIAL ACTIVITIES
INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 DECEMBER 2024
Unrestricted Restricted
funds
funds
2024
2024
Total
Unrestricted Restricted
funds
funds
2023
2023
Total
2024
2023
Notes
Income from:
Donations and
legacies
Charitable activities
107,518
52,524
22,000
129,518
52,524
90,826
63,514
10,500
101,326
63,514
Total income
160,042
22,000
182,042
154,340
10,500
164,840
Ex enditure on:
Charitable activities
141,534
13.927
155.461
162,489
10,500
172,989
Net incomel(expenditure)
for the yearl
Net movement in funds
18,508
8,073
26,581
(8,149)
(8,149)
Fund balances at 1 January
2024
21.688
21.688
29,837
29.837
Fund balances at 31
December 2024
40,196
8,073
48,269
21,688
21,688
The statement of financial activities indudes all gains and losses recognised in the year.
All income and expenditure derive from continuing activities.
The statement of financial activities also complies with the requirements for an income and expenditure account
under the Companies Act 2006.

THE TWO MOORS FESTIVAL LIMITED
COMPANY LIMITED BY GUARANTEE
BALANCE SHEET
AS AT 31 DECEMBER 2024
2024
2023
Notes
Current assets
Cash at bank and in hand
53,034
24,866
Creditors: amounts falling due within
one year
(4,765)
(3,178)
Net current assets
48.269
21,688
Income funds
Restricted funds
Unrestricted funds
8,073
40,196
21,688
48,269
21,688
The company is entided to the exemption from the audit requirement contained in section 477 of the Companies Act
2006, for the year ended 31 December 2024.
The directors acknowledge their responsibilities for complying with the ￿qUIrementS of the Companies Act 2006
with respect to accounting records and the preparation of financial statements.
The members have not required the company to obtsin an audit of its financial statements for the year in question in
accordance with section 476.
These financial statements have been prepared in accordance with the provisions applicable to companies subject
to the small companies regime.
2510512025
The financial statements were approved by the Trustees on .........................
AnttrvNIVelrh-IN1xg25,-2025 09..29 GMT+ll
Mr. A Welch (Chairman)
Trustee
C-￿￿¥1￿544éer-, May-2.3,-2025 li."03 GIIT-II
Mr C Beer (Vice Chairman and Treasurer)
Trustee
Company registration number 04242801

THE TWO MOORS FESTIVAL LIMITED
COMPANY LIMITED BY GUARANTEE
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
Accounting policies
Charity information
The Two Moors Festival Limited is a private company limited by guarantee incorporated in England and
Wales. The registered office is Lime Court, Pathfields Business Park, South Molton, Devon, EX36 3LH.
1.1 Accounting convention
The financial statements have been prepared in accordance with the charity's governing document, the
Companies Act 2006. FRS 102 The Financial Reporting Standard applicable in the UK and Republic of
Ireland" ('FRS 102") and the Charities SORP "Accounting and Reporting by Charities.. Statement of
Recommended Practice applicable to chanties preparing their accounts in accordance with the Financial
Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)" (effective 1 January 20191. 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 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 concem
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 adopi the going concem basis of accounting in preparing the financial statements. There are no
material uncertainties which may create significant doubt over the charity's ability to continue as a going
concern.
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.
1.4 Incoming resources
Income is recognised when the charity is legally entitled to it after any perfomiance 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.

THE TWO MOORS FESTIVAL LIMITED
COMPANY LIMITED BY GUARANTEE
NOTES TO THE FINANCIAL STATEMENTS {CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
Accounting policies
{Continued)
1.5 Resources expended
Expenditure is recognised as soon as there is a legal or constwctive obligation committing the charity to that
expenditure, it is probable that settlement will be required and the amount of the obligation can be measured
reliably. The charity is not registered for VAT and all expenditure indudes this where appropriate.
All expenditure is accounted for on an accruals basis.
Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and
services for its beneficiaries. It includes costs that can be allocated directly to such activities, costs of an
indirect nature necessary to support them and costs associated with meeting the constitutional and statutory
requirements of the charity-
1.6 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 balan￿ sheet when the charity becomes paty to the
contractual provisions of the instrument.
Financial assets and liabilities are offset. wth 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 settie the liability simultaneously.
Basic financial assets
Basic financial assets. which indude debtors and cash and bank balances, are initially measured at
transaction price. Financial assets classified as receivable wthin one year are not amortised.
Basic financial liabilities
Basic financial liabilities, including creditors and bank. Financial liabilities dassified as payable within one year
are not amortised.
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 dassified as current liabilities if payment is due within one
year or less. If not, they are presented as non-current liabilities.
Derecognition of financial liabilities
Financial liabilities are derecognised when the charity's contractual obligations expire or are discharged or
cancelled.

LUQIU

THE TWO MOORS FESTIVAL LIMITED
COMPANY LIMITED BY GUARANTEE
NOTES TO THE FINANCIAL STATEMENTS {CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
Charitable activities
Concerts & Auditions &
Events YMS in¢ome
Total
2024
Concerts & Auditions &
Events YMS income
Totsl
2023
2024
2024
2023
2023
Sales within charitable
activities
51.534
990
52.524
62,059
1,455
63.514
Charitable activities
Charitable Charitable
Expenditure Expenditure
2024
2023
Subcontracted ManagerlDirector fees
Artist Fees
Production Costs
Fundraising and events costs
Advertising and marketing
Young musicians
New commissions
Insurance
Telephone, post and stationery
Outreach costs
Credit and bank charges
Software
Independent Exam
Other charitable expenditure
37,980
27,374
28,525
16,411
19,534
9,927
6,594
1,299
3,266
38,267
40,732
33,946
24,767
17,292
6,905
1,472
3,732
2,686
519
360
1.336
975
520
365
2,616
1,050
155,461
172,989
155,461
172,989
Analysis by fund
Unrestricted funds
Restricted funds
141,534
13,927
162,489
10,500
155,461
172,989
Trustees
During the year Sarah Fletcher, the wife of Richard Fletcher (Trustee), was paid £1,67712023.' £3,017) for her
services as manager of the Young Musician Competition. None of the other Trustees lor any persons
connected with them) received any remuneration or benefits from the charity during the year.
11

THE TWO MOORS FESTIVAL LIMITED
COMPANY LIMITED BY GUARANTEE
NOTES TO THE FINANCIAL STATEMENTS {CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
Employees
The charity does not have any direct employees. All sep11￿S are provided by contractors who invoice the
charity for the work done.
Taxation
The charity is exempt from tax on income and gains falling within section 505 of the TaxesAct 1988 or section
252 of the Taxationof Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects.
Creditors: amounts falling due within one year
2024
2023
Accruals and deferred income
4,765
3,178
Restricted funds
The income funds of the charity indude restricted funds comprising the following unexpended balances of
donations and grants held on trust for specific purposes..
Movement in funds
Incoming
Resources
Balance at
resources
expended1 January 2024
Movement in funds
Incoming
Resources
Balance at
resources
expended 31 December
2024
Outreach
YMC
Commissions
2.500
8,000
(2,500)
(8,000)
18,000
4.000
(9,927)
(4,000)
8.073
10,500
(10,500)
22,000
(13,927)
8.073
10 Analysis of net assets between funds
Unrestricted Restricted
funds
funds
2024
2024
Total Unrestricted Restricted
funds
funds
2023
2023
Total
2024
2023
Fund balances at 31
December 2024 are
represented by..
Current assetsl{liabilities)
40,196
8,073
48,269
21,688
21,688
40.196
8,073
48,269
21,688
21,688
12-

THE TWO MOORS FESTIVAL LIMITED
COMPANY LIMITED BY GUARANTEE
NOTES TO THE FINANCIAL STATEMENTS {CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
11
Related party transactions
Transactions with related parties
During the year the charity had no Related Paty transactions other than that set out in note 5.
13-