2020-12-31-accounts - The Peasmarsh Chamber Music Festival Trust

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REGISTERED COMPANY NUMBER: 04625088 (England and Wales)
REGISTERED CHARITY NUMBER: 1095978

`TRUSTEES' REPORT AND`

`UNAUDITED FINANCIAL STATEMENTS`

`FOR THE YEAR ENDED 31 DECEMBER 2020`

`FOR`

`THE PEASMARSH CHAMBER MUSIC FESTIVAL TRUST`

Gibbons Mannington & Phipps LLP
Chartered Accountants

82 High Street
Tenterden
Kent
TN30 6JG

THE PEASMARSH CHAMBER MUSIC
FESTIVAL TRUST

`CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020`

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Page
Trustees' Report 1 to 5
Independent Examiner's Report 6
Statement of Financial Activities 7
Balance Sheet 8
Notes to the Financial Statements 9 to 14
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THE PEASMARSH CHAMBER MUSIC
FESTIVAL TRUST

`TRUSTEES' REPORT FOR THE YEAR ENDED 31 DECEMBER 2020`

ThetrusteeswhoarealsodirectorsofthecharityforthepurposesoftheCompaniesAct2006, present
theirreportwiththefinancialstatementsofthecharityfortheyearended31December2020. The
trusteeshaveadoptedtheprovisionsofAccountingandReportingbyCharities:Statement of
RecommendedPracticeapplicabletocharitiespreparingtheiraccountsinaccordancewiththe Financial
Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).

`OBJECTIVES AND ACTIVITIES`

`Objectives and aims`

Thecharitablecompany'sobjectsaretopromote,improve,developandmaintaineducationin the
appreciationandknowledgeoftheartandscienceofmusic.ThePeasmarshChamberMusicFestival Trust
supportsanannualsummerchambermusicfestivalinPeasmarsh,EastSussex,co-directedby Anthony
MarwoodandRichardLesteraswellaseducationalprojects,andfundraisingactivitiesduringthe year.
Thefestivalincludesseveralpublicperformances,indifferentvenues,enablingtheFestivaltoreach a
wide audience for the concerts and delivering significant benefit to the public through this work.

TheCompany'sabilitytosupportthePeasmarshChamberMusicFestivalhasbeenenhanced by
successfulfundraisingcampaignsineachofthepastfewyears,whichhaveincludedbuildingupa circle
ofaround150friendsandpatronswhosupportthefestival,aswellasattractingsomesupportfrom local
companiesandcharitabletrusts.TheseFriendsandPatronshaveprovidedinvaluablesupport during
2020astheCompany,incommonwithsomanyotherartsorganisations,experiencedtheimpactof the
COVID-19 pandemic.

`ACHIEVEMENT AND PERFORMANCE`

TheCOVID-19PandemichadasignificantimpactonthePeasmarshChamberMusicFestival.In January
andFebruary2020plansweremadetopresentafestivalofpublicconcertsduringJune2020. However,
inMarch2020,justbeforethefirstUKnationallockdownwasintroduced,thetrusteestookthe decision
towritetoitssupporterstoindicatethatitwasunlikelythatafestivalcouldtakeplace. Unfortunately,
restrictionsremainedinplacethroughoutSpring2020and,atatrustees'meetinginMay2020,the 2020
PeasmarshChamberMusicFestivalwascancelled.However,thetrustees,ArtisticDirectorsand General
ManagerdevelopedaplantocontinuetodeliverpublicbenefitandtoenabletheCharitytoachieve its
charitable company's objects despite the challenging circumstances:

`Artistic activity`

Inlieuofafestivalofpublicperformances,theCompanypresentedaseriesofonlinecommunications to
its audience, in each case including some digitally recorded performances. These included:

- A recording of violinists Magnus and Marije Johnston performing Homecoming by Nathan Williamson - Two recordings from the 2015 Festival, featuring Richard Lester and Huw Watkins performing Huw's Blue Shadows Fall and the finale of Dvořák's American Quintet performed by violinists Anthony Marwood and Ani Kavafian, violists Pablo Hernán Benedí and Simone van der Giessen and cellist Richard Lester - A 'Desert Islands Discs' compilation, where those artists who had been booked for the 2020 Festival each recommended a recording to Friends and Patrons

-A performance of Schubert's Moment Musical No. 3 by pianist Katya Apekisheva

-A performance of Vieuxtemps' Capriccio by violist Eivind Ringstad

- A performance of Dvořák's Romance for violin and piano in F minor, by violinist Grace Park and pianist Yoon Lee

- An educational newsletter, with performances by our education participants recorded during the 2018 and 2019 festivals, and a wonderful introduction to Creative Futures , presented by Sam Glazer

TheFestivalhasalwaysaimedtoincludeacombinationoftraditionalandlessfamiliarrepertoire each
year,whichwascontinuedthroughthesedigitalperformances.Thetrusteesaregratefultothese artists
fortheirperformancesandCDrecommendationsandpleasedthattheCompanywasabletopayeach an
honorarium for their contributions.

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THE PEASMARSH CHAMBER MUSIC
FESTIVAL TRUST

`TRUSTEES' REPORT FOR THE YEAR ENDED 31 DECEMBER 2020`

`ACHIEVEMENT AND PERFORMANCE continued`

`Digital concert`

InJuly2020,whenCOVID-19restrictionswereliftedbriefly,artisticdirectorsAnthonyMarwood and
RichardLestereachrecordedtwoworks;theseincludedworksbyBach,Prokofiev,Ysäyeand Alan
Ridout.ThelatteralsofeaturedactorWaltervanDyk.TheseworkswererecordedinPeasmarsh Church,
andwoventogetherasadigitalconcert;theRidoutwasseparatelyadaptedforuseinprimary schools.
TheconcertwaspresentedtothefestivalmailinglistanditsFriendsandPatrons.Theproject was
organisedasaco-productionwiththePortlandChamberMusicFestivalinPortland,MaineintheUS, and
someofthematerialswereseparatelysharedwiththeCorbridgeFestivalinNorthumberlandand the
Constellations Music Festival in Washington DC, increasing the reach of the Charity's work.

Thetrusteesbelievethatdespitethechallengespresentedin2020,thefestivalcuratedaseriesof digital
eventswhichwerewellreceivedbyouraudiences.Todatethedigitalrecordingshavebeenviewed a
totalofover4,600times,significantlyincreasingthereachofourperformancesbeyondour regular
capacity to accommodate a live audience.

`Feed back includes:`

'Fantastic! I love the setting, and the audio is done so well. Thank you.' [on Prokofiev]

'Thank you so much for this. I used to listen to this piece over and over… Happy memories.' [on Ysäye]

RegrettablythecontinuingCOVID-19restrictionsresultedinourbeingunabletopresentour annual
winter fundraising concerts in 2020. This has had a knock on effect on our fundraising initiatives in 2021.

`Education projects`

Inatypicalyearthefestivalteamdevelopsaninteractiveeducationprojectwithlocalprimary schools.
UnfortunatelyasschoolswereclosedduringSummer2020,itwasnotpossibletovisitpartnerschools as
usual.However,thetrusteescontinuetoconsidereducationalinitiativestobeavitalelementof the
Company's work, and we have continued to maintain our relationships with schools in East Sussex.

InDecember2020,thecompanypresentedonlineeducationalworkshopsatPeasmarshand Beckley
ChurchofEnglandPrimarySchools,whichwerewellreceived.Theworkshopsweregivenby the
educationspecialistSamGlazer,andfocusedongivingparticipatingstudentstheopportunitytolisten to
therecordingsmadeearlierintheyear,respondtothemusicandexplorethemusicalideaswithin the
AlanRidoutpiece(FerdinandtheBull)inparticular.Feedbackfromoneschoolindicatedthat the
participantsverymuchenjoyedengagingwiththefilmedmusic,andappreciatedthestoryand the
drama. A total of 60 children participated across the two partner schools.

WehadsuccessfullyappliedforgrantsfromRyeCommunityShop,RotherDistrictCouncilandthe Little
CheyneCourtWindFarmLtd,operatedbyInnogyRenewablesUKLimitedtofundtheeducationwork we
hadplannedforJune2020.[SussexandKentCommunityFoundationsco-ordinatethelatter grant
scheme.]WeweregratefultoourfundersforpermittingtheCharitytodeferuseofthefundsbothfor the
December 2020 workshops and for our education work in 2021.

`Principal Achievements, and their financial impact`

The principal achievements of The Peasmarsh Chamber Music Festival Trust during 2020 were as follows:
-Presentationofarangeofhighqualitydigitalmaterial,enablingongoingprovisionofbenefitto the
members of the public who usually attend the Festival.

-Preparationofnewdigitallyrecordedmaterial,recordedinPeasmarshChurchandproducedin a
co-productionarrangementwithPortlandChamberMusicFestival,Portland,Maine.Thisledto some
additional donations, including a handful of new donors

-Online education workshops at Beckley and Peasmarsh Church of England Primary Schools

-Asignificantincreaseincontributiontoreservesreflectingthegenerosityofthoseindividuals who
continuedtosupporttheCompanydespitethecancellationofthelivefestival,andthosepatrons who
kindly made additional donations to the Company in lieu of purchasing tickets.

Page 2

THE PEASMARSH CHAMBER MUSIC
FESTIVAL TRUST

`TRUSTEES' REPORT FOR THE YEAR ENDED 31 DECEMBER 2020`

`FINANCIAL REVIEW`

`Reserves policy`

TheaimoftheTrusteeshasbeentoretainsufficientreservestocoverapproximately6months of
operatingexpenses.Inordertoachievethis,theCompanygenerallyraisesfundstocoverthecosts of
thePeasmarshChamberMusicFestivalnotcoveredfromticketsalesthroughattractingdonations from
FriendsandPatronsaswellasdonationsfromgrant-givingtrusts,withtheaimofgeneratinga small
contributiontoreserveswherepossible.ThisalsoenablestheCompanytoinvestinmore significant
artisticprojectsfromtimetotimewhilecreatingincreasedfinancialresiliencefortheCompany. The
trusteesbelievethatthelevelofgeneralreservesisbothsufficienttomeettheseaims,andto provide
some financial support in continuing uncertain times.

`Financial Review`

Theincomeofthecompanyisgenerallyderivedfromconcertperformancesaswellasdonations from
grant-givingcompaniesandsupportfromindividuals.TheCompanyisparticularlygratefultoFriends and
Patrons,andotherindividualdonorsfortheircommitmenttothePeasmarshChamberMusic Festival.
During2020,theCharitywasgratefulthatmostofitsFriendsandPatronscontinuedtosupport the
organisationeventhoughitwasnotpossibletoorganisealivefestivalasoriginallyplanned.Further, a
numberofPatronswhohadpurchasedticketsfortheFestivalbeforeitwascancelled generously
transferredthesemoniestogiftstotheCharity.TheTrusteesgratefullyacknowledgethechangein the
giftaidlegislationwhichwaspassedearlyoninthepandemic,whichpermittedgiftaidtobeclaimed on
thesegiftswhereindicatedbythedonors.Asaresultofthesegifts,theCharityhasincreasedits general
reserves to £49,893 as at 31 December 2020.

During2020theFriendsandPatronsofthePeasmarshChamberMusicFestivaldonated£27,724 (2019:
£44,028)tosupportthefestival.Anadditional£7,603wasdonatedeitherinlieuofticketsor following
thedistributionofthedigitalconcert.Thecompanyalsobenefitedfromadditionalgiftaidof £6,962
(2019:£8,040).Inaddition,thecompanysecured£4,900tosupporteducationactivity(2019: £6,250).
Thosemoniesraisedforeducationprojectsthatwerenotspentduring2020havebeencarriedforward in
restricted funds.

Thetotalincomeofthecompanyfromallsourceswas£48,207(2019:£92,908);theprincipal change
camefromthefactthatwewereunabletopresentliveperformancesandthereforedidnotreceive any
boxofficerevenueorprogrammeadvertising.Howeverouroverallexpenseswerealso significantly
reduced.Attheendoftheperiodthecompanyhad£45,843(2019:£23,176)inunrestrictedfunds and
£4,050 (2019 £0) in restricted funds.

`FUTURE PLANS`

Likemanyotherartsorganisations,thePeasmarshChamberMusicFestivalTrustwas significantly
affectedbytheCOVID-19pandemic,whichledtoaUKnationallockdownattheendofMarch2020 and
thecancellationofthe2020Festival.TheCompanywasfurtheraffectedbynationallockdowns in
November2020andfromJanuarytoMarch2021duringwhichperiodstypicallytheCompany organises
fundraising events to secure financial support for the forthcoming Festival.

Despitethesechallenges,theTrusteesintendthatthecompanyshouldcontinuetosupport the
PeasmarshChamberMusicFestivalinfutureyears.Atthetrustees'meetinginSeptember2020,it was
decidedthatthe2021FestivalshouldtakeplaceunlessGovernmentrestrictionspreventedit,but that
theCompanyshouldreducetheorganisationalriskbyengagingonlyUK-basedartistsandby not
engaging an orchestra for the Friday night concert in Rye.

TheCOVID-19restrictionsinforceatthetimeofthe2021FestivalrequiredtheCompanyto reduce
audiencecapacitytomeetsocialdistancingrequirements.Toenableouraudiencetohearthe complete
programme,additionalperformanceswerepresentedatStThomas'ChurchinWinchelsea.Two further
programmespresentedduringtheFestivalwererepeated.Overalltheattendanceatthe2021 Festival
wasreducedfrom2019,andapriorityforfutureperiodswillbetodevelopanewaudiencetosupport our
workandtoincreasethepublicbenefitdelivered.Thepublicperformancesinthe2021Festivalhave been
recordedtoenablefutureuseofthematerialbothtoincludeaudiencememberswhowereunable to
attend and, potentially, to create future digital material for online workshops.

Page 3

THE PEASMARSH CHAMBER MUSIC
FESTIVAL TRUST

`TRUSTEES' REPORT FOR THE YEAR ENDED 31 DECEMBER 2020`

`FUTURE PLANS continued`

In2021theCompanyhasexpandedthereachofitseducationprogrammetoincludefive partner
schools,RyePrimary,St.Thomas'Winchelsea,IckleshamPrimary,BeckleyChurchofEngland Primary
SchoolandPeasmarshChurchofEnglandPrimarySchool.Wehavecommittedtoourpartnerschools that
wewillbringmusiceducationtothemaswehavedonein2021,andduringthe2022festival the
Company intends to support musical educational activities, as well as a public educational performance.

The trustees are very grateful to all those supporters who have donated to the Company during 2021.

Itisintendedthatin2022andfutureyearsthecompanywillagainsupportafourdayfestivalof chamber
music,atwhichAnthonyMarwoodandRichardLesterwillperformandinviteotherleadingmusicians to
jointheminpresentinganeclecticprogrammeofclassicalmusic.Wehopethatasrestrictionson travel
arelifteditwillagainbepossibletoengageinternationallyrenownedartistsfromaroundtheworldand to
welcome our international audience who were unable to join us in 2020 and 2021.

`STRUCTURE, GOVERNANCE AND MANAGEMENT`

`Governing document`

ThePeasmarshChamberMusicFestivalTrustisacompanylimitedbyguarantee,withoutshare capital,
incorporatedon24December2002astheFlorestanTrustandregisteredasacharityon14 February
2003.AtanEGMon26March2012itstrusteespassedaspecialresolutiontochangeitsnameto The
Peasmarsh Chamber Music Festival Trust, and it was incorporated as such on 12 April 2012.

ThecompanywasestablishedunderaMemorandumofAssociation,whichsetsouttheobjects and
powersofthecharitablecompanyandisgovernedbyitsArticlesofAssociation.Atthe2014AGM, the
MembersapprovedaSpecialResolutiontoadoptrevisedArticlesofAssociationreflectingrecent changes
in Company and Charity law.

`Recruitment and appointment of new trustees`

Membersmayelectorre-electTrusteesbyordinaryresolutionattheAGMandtheBoardmay co-opt
Trustees between AGMs.

`Organisational structure`

TheCompanyismanagedandadministeredonaday-to-daybasisbyitsGeneralManager.The General
ManagerconfersregularlywiththeartisticdirectorsandreportsregularlytotheChairmanof the
Trustees.TheBoardofTrusteesmeetseveryfewmonthstoreviewtheactivitiesofthecompanyand to
consider more closely the financial and managerial status.

`Induction and training of new trustees`

In 2011/12 the Trust introduced an induction process and introduction packs for new Trustees.

`Risk management`

Thetrusteeshaveadutytoidentifyandreviewtheriskstowhichthecharityisexposedandto ensure
appropriatecontrolsareinplacetoprovidereasonableassuranceagainstfraudanderror.The trustees
considerthedetailedoperationofthecompanyandtheassociatedrisksattheirregular trustees'
meetings.

`REFERENCE AND ADMINISTRATIVE DETAILS`

`Registered Company number`

04625088 (England and Wales)

`Registered Charity number`

`Registered office`

Landgate Chambers
Rye
East Sussex
TN31 7LJ

Page 4

THE PEASMARSH CHAMBER MUSIC
FESTIVAL TRUST

`TRUSTEES' REPORT`

FOR THE YEAR ENDED 31 DECEMBER 2020

`Trustees`

G Dunning QC (Appointed 9 September 2020)
V Dyer
R Jennings
P Millett
S Mortimore QC (Chair)
J Sebline

Independent Examiner
Gibbons Mannington & Phipps LLP
Chartered Accountants
82 High Street
Tenterden
Kent
TN30 6JG

`Principal Staff`

General Manager - A Rowe

Approved by order of the board of trustees on 10 September 2021 and signed on its behalf by:

S A Mortimore QC - Trustee

Page 5

`INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE PEASMARSH CHAMBER MUSIC FESTIVAL TRUST`

`Independent examiner's report to the trustees of The Peasmarsh Chamber Music Festival Trust ('the Company')`

IreporttothecharitytrusteesonmyexaminationoftheaccountsoftheCompanyfortheyear ended
31 December 2020.

`Responsibilities and basis of report`

Asthecharity'strusteesoftheCompany(andalsoitsdirectorsforthepurposesofcompanylaw)you are
responsibleforthepreparationoftheaccountsinaccordancewiththerequirementsoftheCompanies Act
2006 ('the 2006 Act').

HavingsatisfiedmyselfthattheaccountsoftheCompanyarenotrequiredtobeauditedunderPart16 of
the2006Actandareeligibleforindependentexamination,Ireportinrespectofmyexaminationof your
charity'saccountsascarriedoutundersection145oftheCharitiesAct2011('the2011Act').In carrying
outmyexaminationIhavefollowedtheDirectionsgivenbytheCharityCommissionundersection 145(5)
(b)of the 2011 Act.

`Independent examiner's statement`

Ihavecompletedmyexamination.Iconfirmthatnomattershavecometomyattentionin 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)).

Ihavenoconcernsandhavecomeacrossnoothermattersinconnectionwiththeexaminationto which
attentionshouldbedrawninthisreportinordertoenableaproperunderstandingoftheaccountsto be
reached.

Miss Samantha Whiting
FCA
Gibbons Mannington & Phipps LLP
Chartered Accountants
82 High Street
Tenterden
Kent
TN30 6JG

13 September 2021

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THE PEASMARSH CHAMBER MUSIC
FESTIVAL TRUST

`STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2020`

`Unrestricted` `Restricted` `fund` `fund` `Notes` `£` `£` `INCOME AND ENDOWMENTS FROM` `Donations and legacies` `2` `35,328` `4,900` `Charitable activities` `4` `Peasmarsh Festival Ticket sales` `-` `-` `Programmes and advertising` `-` `-` `Gift Aid` `6,962` `-` `Co-commission Fees` `1,010` `-` `Investment income` `3` `7` `-` `Total` `43,307` `4,900` `EXPENDITURE ON` `Charitable activities` `5` `Programmes and advertising` `2,235` `-` `Education programmes` `-` `-` `Concerts & Education programmes` `16,641` `600` `Other` `2,014` `-` `Total` `20,890` `600` `NET INCOME/(EXPENDITURE)` `22,417` `4,300` `Transfers between funds` `12` `250` `(250)` `Net movement in funds` `22,667` `4,050` `RECONCILIATION OF FUNDS` `Total funds brought forward` `23,176` `-` `TOTAL FUNDS CARRIED FORWARD` `45,843` `4,050`	`2020` `Total` `funds` `£` `40,228` `-` `-` `6,962` `1,010` `7` `48,207` `2,235` `-` `17,241` `2,014` `21,490` `26,717` `-` `26,717` `23,176` `49,893`	`2019` `Total` `funds` `£` `51,456` `30,992` `2,406` `8,040` `-` `14` `92,908` `4,650` `8,785` `79,623` `1,683` `94,741` `(1,833)` `-` `(1,833)` `25,009` `23,176`

The notes form part of these financial statements

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THE PEASMARSH CHAMBER MUSIC
FESTIVAL TRUST

`BALANCE SHEET 31 DECEMBER 2020`

`Unrestricted` `Restricted` `fund` `fund` `Notes` `£` `£` `CURRENT ASSETS` `Debtors` `10` `2,877` `-` `Cash at bank` `49,344` `4,050` `52,221` `4,050` `CREDITORS` `Amounts falling due within one year` `11` `(6,378)` `-` `NET CURRENT ASSETS` `45,843` `4,050` `TOTAL ASSETS LESS CURRENT` `LIABILITIES` `45,843` `4,050` `NET ASSETS` `45,843` `4,050` `FUNDS` `12` `Unrestricted funds` `Restricted funds` `TOTAL FUNDS`	`2020` `Total` `funds` `£` `2,877` `53,394` `56,271` `(6,378)` `49,893` `49,893` `49,893` `45,843` `4,050` `49,893`	`2019` `Total` `funds` `£` `4,021` `30,088` `34,109` `(10,933)` `23,176` `23,176` `23,176` `23,176` `-` `23,176`

ThecharitablecompanyisentitledtoexemptionfromauditunderSection477oftheCompaniesAct 2006
for the year ended 31 December 2020.

Themembershavenotrequiredthecompanytoobtainanauditofitsfinancialstatementsforthe year
ended 31 December 2020 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.

Thesefinancialstatementshavebeenpreparedinaccordancewiththeprovisionsapplicableto charitable
companies subject to the small companies regime.

The financial statements were approved by the Board of Trustees and authorised for issue on 10 September 2021 and were signed on its behalf by:

S A Mortimore QC - Trustee

The notes form part of these financial statements

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THE PEASMARSH CHAMBER MUSIC
FESTIVAL TRUST

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2020

`1. ACCOUNTING POLICIES`

`Basis of preparing the financial statements`

Thefinancialstatementsofthecharitablecompany,whichisapublicbenefitentityunderFRS 102,
havebeenpreparedinaccordancewiththeCharitiesSORP(FRS102)'Accountingand Reporting
byCharities:StatementofRecommendedPracticeapplicabletocharitiespreparingtheir accounts
inaccordancewiththeFinancialReportingStandardapplicableintheUKandRepublicof Ireland
(FRS102)(effective1January2019)',FinancialReportingStandard102'TheFinancial Reporting
StandardapplicableintheUKandRepublicofIreland'andtheCompaniesAct2006.The financial
statements have been prepared under the historical cost convention.

`Income`

AllincomeisrecognisedintheStatementofFinancialActivitiesoncethecharityhasentitlement to
thefunds,itisprobablethattheincomewillbereceivedandtheamountcanbemeasured reliably.
Anyincomingresourcesreceivedinanaccountingperiodthatrelateexclusivelytofutureyears are
deferred on the balance sheet.

`Expenditure`

Liabilitiesarerecognisedasexpenditureassoonasthereisalegalorconstructive obligation
committingthecharitytothatexpenditure,itisprobablethatatransferofeconomicbenefits will
berequiredinsettlementandtheamountoftheobligationcanbemeasuredreliably. Expenditure
isaccountedforonanaccrualsbasisandhasbeenclassifiedunderheadingsthataggregate all
costrelatedtothecategory.Wherecostscannotbedirectlyattributedtoparticularheadings they
have been allocated to activities on a basis consistent with the use of resources.

`Allocation and apportionment of costs`

Directactivitycostscomprisethosecoststhatcontributedirectlytoanactivityandareallocated to
the relevant activity.

Supportcostscomprisethosecoststhatarenecessarytodeliveranyactivitybutinthemselves do
not produce or deliver an activity.

Supportcostsareallocatedtoeachdirectactivitybasedondirectcostsforeachactivityas a
proportion of total direct activity costs.

Governance costs are those costs incurred to meet statutory and constitutional requirements.

Allcostsareallocatedagainstthefundtowhichtheyrelate.Coststhatcannotbeidentified to
specificfundsareallocatedacrossfundsusingappropriateapportionmentmethodsbasedon the
funds use of the relevant service or resource.

`Taxation`

The charity is exempt from corporation tax on its charitable activities.

`Restricted funds`

Theserepresentincomereceivedthatissubjecttospecificrestrictionsforusedeterminedby the
donor which are narrower than the charitable company's general objects.

`General funds`

These represent all other funds held for the general purpose of the charitable company.

continued...

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THE PEASMARSH CHAMBER MUSIC
FESTIVAL TRUST

`NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2020`

`2.` `DONATIONS AND LEGACIES` `Gifts and donations` `Friends and Patrons of Peasmarsh Festival` `3.` `INVESTMENT INCOME` `Deposit account interest` `4.` `INCOME FROM CHARITABLE ACTIVITIES` `Activity` `Peasmarsh Festival Ticket` `sales` `Peasmarsh Festival Ticket sales` `Programmes and` `advertising` `Programmes and advertising` `Gift Aid` `Gift Aid` `Co-commission Fees` `Co-commission Fees` `Grants received, included in the above, are as follows:` `5.` `CHARITABLE ACTIVITIES COSTS` `Programmes and advertising` `Concerts & Education programmes`	`2020` `£` `12,504` `27,724` `40,228` `2020` `£` `7` `2020` `£` `-` `-` `6,962` `1,010` `7,972` `2020` `£`		`2019` `£` `7,428` `44,028`	`2019` `£` `7,428` `44,028`
			`51,456`
			`2019` `£` `14` `2019` `£` `30,992` `2,406` `8,040` `-`	`2019` `£` `14`
			`41,438`
			`2019` `£` `Direct` `Costs` `£` `2,235` `17,241`	`2019` `£`
			`19,476`

continued...

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THE PEASMARSH CHAMBER MUSIC
FESTIVAL TRUST

`NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2020`

`6. SUPPORT COSTS`

`Other resources expended` `Support costs, included in the above, are as follows:` `Insurance` `Post, stationery and office supplies` `Bank charges` `Sundries` `Accountancy`	`Governance` `Other` `costs` `Totals` `£` `£` `£` `608` `1,406` `2,014` `2020` `2019` `Other` `resources` `Total` `expended` `activities` `£` `£` `364` *`687`* `244` *`182`* `159` *`332`* `13` *`2,957`* `1,234` *`1,338`* `2,014` *`5,496`*

`7. TRUSTEES' REMUNERATION AND BENEFITS`

Therewerenotrustees'remunerationorotherbenefitsfortheyearended31December2020 nor
for the year ended 31 December 2019.

`Trustees' expenses`

Therewerenotrustees'expensespaidfortheyearended31December2020norforthe year
ended 31 December 2019.

`8. STAFF COSTS`

Therewerenoemployeesorstaffcostsfortheyearended31December2020norforthe year
ended 31 December 2019.

`9. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES`

Unrestricted
Restricted
fund
fund
£
£
INCOME AND ENDOWMENTS FROM
Donations and legacies
45,206
6,250
Charitable activities
Peasmarsh Festival Ticket sales
30,992
-
Programmes and advertising
2,406
-
Gift Aid
8,040
-
Investment income
14
-
Total
86,658
6,250
EXPENDITURE ON
Charitable activities
Programmes and advertising
4,650
-
Education programmes
-
8,785
Concerts & Education programmes
79,623
- Total
funds
£
51,456
30,992
2,406
8,040
14

92,908
4,650
8,785
79,623

`Unrestricted` `Restricted` `fund` `fund` `£` `£` `INCOME AND ENDOWMENTS FROM` `Donations and legacies` `45,206` `6,250` `Charitable activities` `Peasmarsh Festival Ticket sales` `30,992` `-` `Programmes and advertising` `2,406` `-` `Gift Aid` `8,040` `-` `Investment income` `14` `-` `Total` `86,658` `6,250` `EXPENDITURE ON` `Charitable activities` `Programmes and advertising` `4,650` `-` `Education programmes` `-` `8,785` `Concerts & Education programmes` `79,623` `-`	`Total` `funds` `£` `51,456` `30,992` `2,406` `8,040` `14`
	`92,908` `4,650` `8,785` `79,623`

continued...

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THE PEASMARSH CHAMBER MUSIC
FESTIVAL TRUST

`NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2020`

`9.` `COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES -` `Unrestricted` `fund` `£` `Other` `1,683` `Total` `85,956` `NET INCOME/(EXPENDITURE)` `702` `Transfers between funds` `(2,535)` `Net movement in funds` `(1,833)` `RECONCILIATION OF FUNDS` `Total funds brought forward` `25,009` `TOTAL FUNDS CARRIED FORWARD` `23,176` `10.` `DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR` `Trade debtors` `11.` `CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR` `Trade creditors` `Deferred income` `Accruals` `12.` `MOVEMENT IN FUNDS` `Net` `movement` `At 1/1/20` `in funds` `£` `£` `Unrestricted funds` `General fund` `23,176` `22,417` `Restricted funds` `Restricted Funds` `-` `4,300` `TOTAL FUNDS` `23,176` `26,717`	`continued` `Restricted` `fund` `£` `-` `8,785` `(2,535)` `2,535` `-` `-` `-` `2020` `£` `2,877` `2020` `£` `1,898` `3,300` `1,180` `6,378` `Transfers` `between` `funds` `£` `250` `(250)` `-`	`Total` `funds` `£` `1,683` `94,741` `(1,833)` `-` `(1,833)` `25,009` `23,176` `2019` `£` `4,021` `2019` `£` `925` `9,000` `1,008` `10,933` `At` `31/12/20` `£` `45,843` `4,050` `49,893`

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THE PEASMARSH CHAMBER MUSIC
FESTIVAL TRUST

`NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2020`

`12. MOVEMENT IN FUNDS - continued`

Net movement in funds, included in the above are as follows:

`Unrestricted funds` `General fund` `Restricted funds` `Restricted Funds` `TOTAL FUNDS` `Comparatives for movement in funds` `At 1/1/19` `£` `Unrestricted funds` `General fund` `25,009` `Restricted funds` `Restricted Funds` `-` `TOTAL FUNDS` `25,009` `Comparative net movement in funds, included in the above` `Unrestricted funds` `General fund` `Restricted funds` `Restricted Funds` `TOTAL FUNDS`	`Incoming` `resources` `£` `43,307` `4,900` `48,207` `Net` `movement` `in funds` `£` `702` `(2,535)` `(1,833)` `are as follows:` `Incoming` `resources` `£` `86,658` `6,250` `92,908`	`Resources` `Movement` `expended` `in funds` `£` `£` `(20,890)` `22,417` `(600)` `4,300` `(21,490)` `26,717` `Transfers` `between` `At` `funds` `31/12/19` `£` `£` `(2,535)` `23,176` `2,535` `-` `-` `23,176` `Resources` `Movement` `expended` `in funds` `£` `£` `(85,956)` `702` `(8,785)` `(2,535)` `(94,741)` `(1,833)`

continued...

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THE PEASMARSH CHAMBER MUSIC
FESTIVAL TRUST

`NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2020`

`12. MOVEMENT IN FUNDS - continued`

A current year 12 months and prior year 12 months combined position is as follows:

`Net` `movement` `At 1/1/19` `in funds` `£` `£` `Unrestricted funds` `General fund` `25,009` `23,119` `Restricted funds` `Restricted Funds` `-` `1,765` `TOTAL FUNDS` `25,009` `24,884`	`Transfers` `between` `At` `funds` `31/12/20` `£` `£` `(2,285)` `45,843` `2,285` `4,050` `-` `49,893`

Acurrentyear12monthsandprioryear12monthscombinednetmovementinfunds,included in
the above are as follows:

	`Incoming`	`Resources`	`Movement`
	`resources`	`expended`	`in funds`
	`£`	`£`	`£`
`Unrestricted funds`
`General fund`	`129,965`	`(106,846)`	`23,119`
`Restricted funds`
`Restricted Funds`	`11,150`	`(9,385)`	`1,765`
`TOTAL FUNDS`	`141,115`	`(116,231)`	`24,884`

`13. RELATED PARTY DISCLOSURES`

Thetotalamountofdonationsreceivedfromtrusteesduringtheyear,withoutconditions, totalled
£6,433 (2019: £3,330).

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