``` 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`** **----- Start of picture text -----**
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
**----- End of picture text -----**
``` 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. ``` ``` Page 1 ``` ``` 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`** ``` 1095978 ``` ## **`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 ``` Page 6 ``` ``` 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 ``` ``` Page 7 ``` ``` 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 ``` ``` Page 8 ``` ``` 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... ``` ``` Page 9 ``` ``` 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... ``` ``` Page 10 ``` ``` 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`| ``` continued... ``` ``` Page 11 ``` ``` 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`**| |---|---|---| ``` continued... ``` ``` Page 12 ``` ``` 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... ``` ``` Page 13 ``` ``` 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). ``` ``` Page 14 ```