``` REGISTERED COMPANY NUMBER: 04625088 (England and Wales) REGISTERED CHARITY NUMBER: 1095978 ``` ## **`TRUSTEES' REPORT AND`** ## **`UNAUDITED FINANCIAL STATEMENTS`** ## **`FOR THE YEAR ENDED 31 DECEMBER 2021`** ## **`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 2021`** **----- 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 2021`** ``` ThetrusteeswhoarealsodirectorsofthecharityforthepurposesoftheCompaniesAct2006, present theirreportwiththefinancialstatementsofthecharityfortheyearended31December2021. 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 supportsanannualsummerchambermusicfestivalinandaroundPeasmarsh,EastSussex, co-directed byAnthonyMarwoodandRichardLesteraswellaseducationalprojects,andfundraisingactivities during theyear.Thefestivalincludesseveralpublicperformances,indifferentvenues,enablingtheFestival to reach 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,aswellasRotherDistrictCouncilandSussexCommunity Foundation. TheFriendsandPatronshaveprovidedinvaluablesupportduring2021astheCompany,incommon with so many other arts organisations, continued to experience the impact of the COVID-19 pandemic. ``` ``` Page 1 ``` ``` THE PEASMARSH CHAMBER MUSIC FESTIVAL TRUST ``` ## **`TRUSTEES' REPORT FOR THE YEAR ENDED 31 DECEMBER 2021`** ## **`ACHIEVEMENT AND PERFORMANCE`** ``` FollowingtherelaxationofcertainCOVID-19restrictions,theDirectorsweredelightedtobeable to presentaFestivalofliveconcertsinJuly2021,albeitwithsomerestrictionsrelatingtosocial distancing andreducedaudiencecapacitiesinourprincipalconcertvenuesoftheChurchofStPeterandStPaul in PeasmarshandStMary'sChurchinRye.WealsoheldtwoconcertsinWinchelseaforthefirst time. Severalperformanceswererepeated,includingthoseinWinchelsea,inordertoaccommodate our audiencemembers,whoexceedthereducedcapacityinnumber.TheongoingCOVID-19restrictions had someadditionalimplicationsfortheorganisationincludingreducedcapacityforperformersonstage, the needfortimedentryforaudiencemembersandadditionalcleaninganddisinfectantobligations between each performance. ``` ## **`Artistic activity`** ``` The2021Festivalwasthe23rdfestivalpresentedinPeasmarsh,includingtheearlyfestivals presented undertheoriginalnameoftheFlorestanFestivalatPeasmarsh.TheFestivaltookplaceoverfourdays, 1 to 4 July 2021, with education workshops taking place in five local schools during the previous week. ``` ``` Thefestivalcomprised11concerts,sevenheldattheChurchofStPeterandStPaul,Peasmarsh, East Sussex,twoatStMary'sChurch,Rye,andtwoheldinStThomas'ChurchinWinchelsea,anewvenue for theFestival.Fouroftheseperformanceswererepeatedprogrammes.Ournewconnection with Winchelseaenabledustoexpandoureducationpartnershipstoincludestudentsfrom Winchelsea, Icklesham, Rye, Peasmarsh and Beckley Primary Schools. ``` ``` InadditiontoAnthonyMarwood(violin)andRichardLester(cello)theartistsperformingatthe Festival were: ``` ``` Alec Frank-Gemill, French horn Tim Horton, piano Graham Mitchell, double bass The Barbican String Quartet The Navarra String Quartet ``` ``` TheBarbicanandNavarraStringQuartetscombinedtoformanensembleofstringplayersforthe Friday night ensemble concert, supplemented by eight additional ensemble players. ``` ``` ItisacentralaimoftheCompanytoinviteartistsofthehigheststandardtothefestivaleachyear, which wasachievedthroughtheseinternationallyacclaimedguestperformers.Additionally,theFestival always supportsyoungprofessionalmusicians,givingthemperformanceopportunitiestodeveloptheir careers asprofessionalmusicians.In2021ourguestartistswereprimarilyresidentintheUKdueto ongoing travel restrictions due to COVID-19. ``` ``` TheFestivalaimstoincludeacombinationoftraditionalandlessfamiliarrepertoireeachyear.In 2021 ourpublicperformancesincludedworksbycomposersrangingfromBachtoRaskatov,Mozartto Turina andincludingchamberworksbyShostakovich,Britten,Mahler,Abrahamsen,Rossini,Straus,Ligeti and Dvorak. ``` ``` RegrettablythecontinuingCOVID-19omicronvariantresultedinourbeingunabletopresentour annual winter fundraising concerts in 2021. However these concerts were reinstated successfully in April 2022. ``` ## **`Education projects`** ``` In2021theCompanyexpandedthereachofitseducationprogrammetoincludefivepartner schools, RyePrimary,St.Thomas'Winchelsea,IckleshamPrimary,BeckleyChurchofEnglandPrimarySchool and PeasmarshChurchofEnglandPrimarySchool.DuetotheongoingCOVID-19restrictionswewere unable tobringparticipantsfromthesefiveschoolstogetherforasinglefinalperformanceaswehad hoped. Instead,wearrangedfortheBarbicanStringQuartettoperforminfourofthefiveschools.Although we wereunabletoinvitemembersofthepublictoenjoytheseperformances,theschoolswerein some instances able to include additional students as members of an impromptu audience. ``` ``` Page 2 ``` ``` THE PEASMARSH CHAMBER MUSIC FESTIVAL TRUST ``` ## **`TRUSTEES' REPORT FOR THE YEAR ENDED 31 DECEMBER 2021`** ``` WehadsuccessfullyappliedforgrantsfromRyeCommunityShop,RotherDistrictCouncilandthe Little CheyneCourtWindFarmLtd.,operatedbyInnogyRenewablesUKLimitedtofundtheeducationwork we hadplannedforJune2020.[SussexandKentCommunityFoundationsco-ordinatethelatter grant scheme.]WeweregratefultoourfundersforpermittingtheCharitytodeferuseofthefundsboth for someonlineworkshopswehadorganisedinDecember2020andforoureducationworkin2021. An additional grant was received from Arts Society High Weald for the workshops in June 2021. ``` ## **`Principal Achievements, and their financial impact`** ``` The principal achievements of The Peasmarsh Chamber Music Festival Trust during 2021 were as follows: -Presentationofelevenhighqualitypublicconcerts,enablingareturntotheprovisionofbenefitto the membersofthepublicthroughareturntoliveattendanceattheFestival.Althoughanumberof these concertswerefullysold,thereductionincapacityduetosocialdistancingmeasuresledtoareduction in box office income relative to prior years. ``` ``` -PresentationoftworepeatedpublicconcertsatStThomas'ChurchinWinchelsea,enablingour audience to attend all our concert programmes despite capacity restrictions in Peasmarsh ``` ``` -Broadeningouraudiencetoanewlocation.WeweredelightedtowelcometwonewFriendsto support the Festival as a direct result of this initiative. ``` ``` -EducationworkshopswereheldatRye,Winchelsea,Icklesham,BeckleyandPeasmarshPrimary Schools marking a significant broadening of our education programme and creation of new partnerships - A significant increase in reserves thanks to receipt of a generous legacy during the year ``` ## **`FINANCIAL REVIEW`** ## **`Reserves policy`** ``` TheaimoftheTrusteeshasbeentoretainsufficientreservestocoverapproximatelysixmonths of operatingexpenses.Inordertoachievethis,theCompanygenerallyraisesfundstocoverthecosts of thePeasmarshChamberMusicFestivalnotcoveredfromticketsalesthroughattractingdonations from FriendsandPatronsaswellasdonationsfromgrant-givingtrusts,withtheaimofgeneratinga small contributiontoreserveswherepossible.ThisalsoenablestheCompanytoinvestinmore significant artisticprojectsfromtimetotimewhilecreatingincreasedfinancialresiliencefortheCompany. Thanks tothereceiptofasignificantlegacyduringtheyear,thelevelofreservescurrentlyexceedthe agreed minimumlevel.Thetrusteesbelievethatthelevelofgeneralreservesisbothsufficienttomeet these aims, and to provide some financial support in continuing uncertain times. ``` ## **`Financial Review`** ``` Theincomeofthecompanyisgenerallyderivedfromconcertperformancesaswellasdonations from grant-givingcompaniesandsupportfromindividuals.TheCompanyisparticularlygratefultoFriends and Patrons,andotherindividualdonorsfortheircommitmenttothePeasmarshChamberMusic Festival. During2021,theCharitywasgratefulthatmostofitsFriendsandPatronscontinuedtosupport the organisationfollowingthedifficultperiodofCOVID-19.Asaresultofthesegifts,theCharityhas general reserves of £85,252 as at 31 December 2021. ``` ``` During2021theFriendsandPatronsofthePeasmarshChamberMusicFestivaldonated£37,190 (2020: £27,724)tosupportthefestival.Thecompanyalsobenefitedfromadditionalgiftaidof£6,142 (2020: £6,962).Inaddition,thecompanysecuredafurthergrantof£500inMay2021tosupport education activityinadditiontotherestrictedfundscarriedforwardsfrom2020(2020:£4,050).Alegacy of £40,000 was secured in February 2021. ``` ``` Thetotalincomeofthecompanyfromallsourceswas£111,577(2020:£48,207);theprincipal change camefromthefactthatwewereagainabletopresentliveperformancesandthereforeour earned incomefromcharitableincomeincludedboxofficerevenue,aswellasthelegacynotedabove. However, itshouldbenotedthattheboxofficeincomewasbelowthelevelreceivedin2019dueto reduced capacityinourperformancevenues.Attheendoftheperiodthecompanyhad£85,252(2020: £45,843) inunrestrictedfundsand£0(2020£4,050)inrestrictedfunds,thesefundshavingbeenspent on education work during the year. ``` ``` Page 3 ``` ``` THE PEASMARSH CHAMBER MUSIC FESTIVAL TRUST ``` ## **`TRUSTEES' REPORT FOR THE YEAR ENDED 31 DECEMBER 2021`** ## **`FUTURE PLANS`** ``` InJune2022,thePeasmarshChamberMusicFestivalwasabletotakeplaceinareturntothe Charity's preCOVIDmodusoperandi.Tenliveconcertswereheldacrossfourdays,includingtwo education performances which brought performers together from participants in our five partner schools. ``` ``` OurpartnerschoolsallundertookworkshopsinMayandJune2022,andallfivepartnerschools have indicatedtheirenthusiasmforacontinuinginvolvementintheCharity'seducationalprogrammein future years. ``` ``` Itisintendedthatinfutureyearsthecompanywillagainsupportafourdayfestivalofchambermusic, at whichAnthonyMarwoodandRichardLesterwillperformandinviteotherleadingmusicianstojoin them inpresentinganeclecticprogrammeofclassicalmusic.In2023the25thFestivalwilltakeplace.We will markthisimportantanniversarybyorganisingaspecialfundraisingconcertinLincoln'sInninLondon in November 2022. ``` ``` ThetrusteesareverygratefultoallthosesupporterswhohavedonatedtotheCompanyduring2021 and wouldparticularlynotetheirgratitudeforasignificantlegacyreceivedduringtheyear.Itisintended that thelegacyfundsareusedtocommissionaseriesofnewworksforchamberensembleinpartnership with selectedvenuesintheUKandfurtherafield.Thesecommissionswillensurebothanenduring musical legacybecreatedwiththesefundsand,throughthesepartnerships,thatadditionalpublicbenefit be derivedthroughsharingthesenewlycommissionedworkswithawideraudiencethanattends the Festival.Itishopedthattheseworksmightberecordedsuchthattheymightalsobemade available more widely through digital platforms. ``` ## **`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) ``` ``` Page 4 ``` ``` THE PEASMARSH CHAMBER MUSIC FESTIVAL TRUST ``` ## **`TRUSTEES' REPORT`** ## **`FOR THE YEAR ENDED 31 DECEMBER 2021`** ## **`Registered Charity number`** ``` 1095978 ``` ## **`Registered office`** ``` Landgate Chambers Rye East Sussex TN31 7LJ ``` ## **`Trustees`** ``` G Dunning QC 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`** ``` A Rowe ``` ``` Approved by order of the board of trustees on 9 September 2022 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 2021. ``` ## **`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 ``` ``` 9 September 2022 ``` ``` Page 6 ``` ``` THE PEASMARSH CHAMBER MUSIC FESTIVAL TRUST ``` ## **`STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2021`** |`Unrestricted`
`fund`
`Notes`
`£`
**`INCOME AND ENDOWMENTS FROM`**
`Donations and legacies`
`2`
**`77,553`**
**`Charitable activities`**
`4`
`Peasmarsh Festival Ticket sales`
**`25,375`**
`Programmes and advertising`
**`1,998`**
`Gift Aid`
**`6,142`**
`Co-commission Fees`
**`-`**
`Investment income`
`3`
**`9`**
**`Total`**
**`111,077`**
**`EXPENDITURE ON`**
**`Charitable activities`**
`5`
`Programmes and advertising`
**`4,935`**
`Concerts & Education programmes`
**`64,681`**
`Other`
**`2,043`**
**`Total`**
**`71,659`**
**`NET INCOME/(EXPENDITURE)`**
**`39,418`**
**`Transfers between funds`**
`12`
**`(9)`**
**`Net movement in funds`**
**`39,409`**
**`RECONCILIATION OF FUNDS`**
**`Total funds brought forward`**
**`45,843`**
**`TOTAL FUNDS CARRIED FORWARD`**
**`85,252`**|`Restricted`
`fund`
`£`
**`500`**
**`-`**
**`-`**
**`-`**
**`-`**
**`-`**
**`500`**
**`-`**
**`4,559`**
**`-`**
**`4,559`**
**`(4,059)`**
**`9`**
**`(4,050)`**
**`4,050`**
**`-`**|**`2021`**
**`Total`**
**`funds`**
**`£`**
**`78,053`**
**`25,375`**
**`1,998`**
**`6,142`**
**`-`**
**`9`**
**`111,577`**
**`4,935`**
**`69,240`**
**`2,043`**
**`76,218`**
**`35,359`**
**`-`**
**`35,359`**
**`49,893`**
**`85,252`**|`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`| ``` The notes form part of these financial statements ``` ``` Page 7 ``` ``` THE PEASMARSH CHAMBER MUSIC FESTIVAL TRUST ``` ## **`BALANCE SHEET 31 DECEMBER 2021`** |`Unrestricted`
`Restricted`
`fund`
`fund`
`Notes`
`£`
`£`
**`CURRENT ASSETS`**
`Debtors`
`10`
**`2,631`**
**`-`**
`Cash at bank`
**`91,198`**
**`-`**
**`93,829`**
**`-`**
**`CREDITORS`**
`Amounts falling due within one year`
`11`
**`(8,577)`**
**`-`**
**`NET CURRENT ASSETS`**
**`85,252`**
**`-`**
**`TOTAL ASSETS LESS CURRENT`**
**`LIABILITIES`**
**`85,252`**
**`-`**
**`NET ASSETS`**
**`85,252`**
**`-`**
**`FUNDS`**
`12`
`Unrestricted funds`
`Restricted funds`
**`TOTAL FUNDS`**|**`2021`**
**`Total`**
**`funds`**
**`£`**
**`2,631`**
**`91,198`**
**`93,829`**
**`(8,577)`**
**`85,252`**
**`85,252`**
**`85,252`**
**`85,252`**
**`-`**
**`85,252`**|_`2020`_
_`Total`_
_`funds`_
_`£`_
_`2,877`_
_`53,394`_
_`56,271`_
_`(6,378)`_
_`49,893`_
_`49,893`_
_`49,893`_
`45,843`
`4,050`
`49,893`| |---|---|---| ``` ThecharitablecompanyisentitledtoexemptionfromauditunderSection477oftheCompaniesAct 2006 for the year ended 31 December 2021. ``` ``` Themembershavenotrequiredthecompanytoobtainanauditofitsfinancialstatementsforthe year ended 31 December 2021 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. ``` ``` ThefinancialstatementswereapprovedbytheBoardofTrusteesandauthorisedforissue on 9 September 2022 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 2021 ``` ## **`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 2021`** |**`2.`**
**`DONATIONS AND LEGACIES`**
**`2021`**
**`£`**
`Gifts and donations`
**`863`**
`Legacies`
**`40,000`**
`Friends and Patrons of Peasmarsh Festival`
**`37,190`**
**`78,053`**
**`3.`**
**`INVESTMENT INCOME`**
**`2021`**
**`£`**
`Deposit account interest`
**`9`**
**`4.`**
**`INCOME FROM CHARITABLE ACTIVITIES`**
**`2021`**
`Activity`
**`£`**
`Peasmarsh Festival Ticket`
`sales`
`Peasmarsh Festival Ticket sales`
**`25,375`**
`Programmes and`
`advertising`
`Programmes and advertising`
**`1,998`**
`Gift Aid`
`Gift Aid`
**`6,142`**
`Co-commission Fees`
`Co-commission Fees`
**`-`**
**`33,515`**
**`5.`**
**`CHARITABLE ACTIVITIES COSTS`**
`Programmes and advertising`
`Concerts & Education programmes`
**`6.`**
**`SUPPORT COSTS`**
`Governance`
`Other`
`costs`
`£`
`£`
`Other resources expended`
**`532`**
**`1,511`**||_`2020`_
_`£`_
_`12,504`_
_`-`_
_`27,724`_|_`2020`_
_`£`_
_`12,504`_
_`-`_
_`27,724`_| |---|---|---|---| |||_`40,228`_|| ||||_`2020`_
_`£`_
_`7`_| ||||_`2020`_
_`£`_
_`-`_
_`-`_
_`6,962`_
_`1,010`_| ||||_`7,972`_| |||`Direct`
`Costs`
`£`
**`4,935`**
**`69,240`**|| |||**`74,175`**|| |||`Totals`
`£`
**`2,043`**|| ``` continued... ``` ``` Page 10 ``` ``` THE PEASMARSH CHAMBER MUSIC FESTIVAL TRUST ``` ## **`NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2021`** ## **`6. SUPPORT COSTS - continued`** ``` Support costs, included in the above, are as follows: ``` |**`SUPPORT COSTS - continued`**
`Support costs, included in the above, are as follows:`||| |---|---|---| ||**`2021`**|_`2020`_| ||`Other`|| ||`resources`|`Total`| ||`expended`|`activities`| ||**`£`**|_`£`_| |`Insurance`|**`481`**|**_`364`_**| |`Post, stationery and office supplies`|**`51`**|**_`244`_**| |`Bank charges`|**`268`**|**_`159`_**| |`Sundries`|**`13`**|**_`13`_**| |`Accountancy`|**`1,230`**|**_`1,234`_**| ||**`2,043`**|**_`2,014`_**| ## **`7. TRUSTEES' REMUNERATION AND BENEFITS`** ``` Therewerenotrustees'remunerationorotherbenefitsfortheyearended31December2021 nor for the year ended 31 December 2020. ``` ## **`Trustees' expenses`** ``` Therewerenotrustees'expensespaidfortheyearended31December2021norforthe year ended 31 December 2020. ``` ## **`8. STAFF COSTS`** ``` Therewerenoemployeesorstaffcostsfortheyearended31December2021norforthe year ended 31 December 2020. ``` ## **`9. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES`** |**`COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES`**|| |---|---| |`Unrestricted`
`Restricted`
`fund`
`fund`
`£`
`£`
**`INCOME AND ENDOWMENTS FROM`**
`Donations and legacies`
`35,328`
`4,900`
**`Charitable activities`**
`Gift Aid`
`6,962`
`-`
`Co-commission Fees`
`1,010`
`-`
`Investment income`
`7`
`-`
**`Total`**
`43,307`
`4,900`
**`EXPENDITURE ON`**
**`Charitable activities`**
`Programmes and advertising`
`2,235`
`-`
`Concerts & Education programmes`
`16,641`
`600`
`Other`
`2,014`
`-`
**`Total`**
`20,890`
`600`
**`NET INCOME`**
`22,417`
`4,300`
**`Transfers between funds`**
`250`
`(250)`|`Total`
`funds`
_`£`_
`40,228`
`6,962`
`1,010`
`7`| ||`48,207`
`2,235`
`17,241`
`2,014`| ||`21,490`| ||`26,717`
`-`| ``` continued... ``` ``` Page 11 ``` ``` THE PEASMARSH CHAMBER MUSIC FESTIVAL TRUST ``` ## **`NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2021`** |**`9.`**
**`COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES -`**
`Unrestricted`
`fund`
`£`
**`Net movement in funds`**
`22,667`
**`RECONCILIATION OF FUNDS`**
**`Total funds brought forward`**
`23,176`
**`TOTAL FUNDS CARRIED FORWARD`**
`45,843`
**`10.`**
**`DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR`**
`Trade debtors`
`Prepayments`
**`11.`**
**`CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR`**
`Trade creditors`
`Deferred income`
`Accruals`
**`12.`**
**`MOVEMENT IN FUNDS`**
`Net`
`movement`
`At 1/1/21`
`in funds`
`£`
`£`
**`Unrestricted funds`**
`General fund`
**`45,843`**
**`39,418`**
**`Restricted funds`**
`Restricted Funds`
**`4,050`**
**`(4,059)`**
**`TOTAL FUNDS`**
**`49,893`**
**`35,359`**|**`continued`**
`Restricted`
`fund`
`£`
`4,050`
`-`
`4,050`
**`2021`**
**`£`**
**`2,571`**
**`60`**
**`2,631`**
**`2021`**
**`£`**
**`2,228`**
**`3,950`**
**`2,399`**
**`8,577`**
`Transfers`
`between`
`funds`
`£`
**`(9)`**
**`9`**
**`-`**|`Total`
`funds`
_`£`_
`26,717`
`23,176`
`49,893`
_`2020`_
_`£`_
_`2,877`_
_`-`_
_`2,877`_
_`2020`_
_`£`_
_`1,898`_
_`3,300`_
_`1,180`_
_`6,378`_
`At`
`31/12/21`
`£`
**`85,252`**
**`-`**
**`85,252`**|`Total`
`funds`
_`£`_| |---|---|---|---| ||||`26,717`
`23,176`| ||||`49,893`| ``` continued... ``` ``` Page 12 ``` ``` THE PEASMARSH CHAMBER MUSIC FESTIVAL TRUST ``` ## **`NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2021`** ## **`12. MOVEMENT IN FUNDS - continued`** ``` Net movement in funds, included in the above are as follows: ``` |`Incoming`
`Resources`
`resources`
`expended`
`£`
`£`
**`Unrestricted funds`**
`General fund`
**`111,077`**
**`(71,659)`**
**`Restricted funds`**
`Restricted Funds`
**`500`**
**`(4,559)`**
**`TOTAL FUNDS`**
**`111,577`**
**`(76,218)`**
**`Comparatives for movement in funds`**
`Net`
`Transfers`
`movement`
`between`
`At 1/1/20`
`in funds`
`funds`
`£`
`£`
`£`
**`Unrestricted funds`**
`General fund`
`23,176`
`22,417`
`250`
**`Restricted funds`**
`Restricted Funds`
`-`
`4,300`
`(250)`
**`TOTAL FUNDS`**
`23,176`
`26,717`
`-`
`Comparative net movement in funds, included in the above are as follows:`
`Incoming`
`Resources`
`resources`
`expended`
`£`
`£`
**`Unrestricted funds`**
`General fund`
`43,307`
`(20,890)`
**`Restricted funds`**
`Restricted Funds`
`4,900`
`(600)`
**`TOTAL FUNDS`**
`48,207`
`(21,490)`|`Movement`
`in funds`
`£`
**`39,418`**
**`(4,059)`**
**`35,359`**
`At`
`31/12/20`
`£`
`45,843`
`4,050`
`49,893`
`Movement`
`in funds`
`£`
`22,417`
`4,300`
`26,717`| |---|---| ``` continued... ``` ``` Page 13 ``` ``` THE PEASMARSH CHAMBER MUSIC FESTIVAL TRUST ``` ## **`NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2021`** ## **`12. MOVEMENT IN FUNDS - continued`** ``` A current year 12 months and prior year 12 months combined position is as follows: ``` |`Net`
`movement`
`At 1/1/20`
`in funds`
`£`
`£`
**`Unrestricted funds`**
`General fund`
`23,176`
`61,835`
**`Restricted funds`**
`Restricted Funds`
`-`
`241`
**`TOTAL FUNDS`**
`23,176`
`62,076`|`Transfers`
`between`
`At`
`funds`
`31/12/21`
`£`
`£`
`241`
`85,252`
`(241)`
`-`
`-`
`85,252`| |---|---| ``` Acurrentyear12monthsandprioryear12monthscombinednetmovementinfunds,included in the above are as follows: ``` |**`Unrestricted funds`**
`General fund`
**`Restricted funds`**
`Restricted Funds`
**`TOTAL FUNDS`**|`Incoming`
`resources`
`£`
`154,384`
`5,400`
`159,784`|`Resources`
`expended`
`£`
`(92,549)`
`(5,159)`
`(97,708)`|`Movement`
`in funds`
`£`
`61,835`
`241`
`62,076`| |---|---|---|---| ## **`13. RELATED PARTY DISCLOSURES`** ``` Thetotalamountofdonationsreceivedfromtrusteesduringtheyear,withoutconditions, totalled £4,840 (2020: £6,433). ``` ## **`14. CONTINGENT ASSETS`** ``` ThecharitywasnotifiedofalegacyinApril2021buttheamountwasunknownattheyear end. The charity has since received £57,954 in April 2022. ``` ``` Page 14 ```