```
REGISTERED COMPANY NUMBER: 04625088 (England and Wales)
REGISTERED CHARITY NUMBER: 1095978
```
## **`TRUSTEES' REPORT AND`**
## **`UNAUDITED FINANCIAL STATEMENTS`**
## **`FOR THE YEAR ENDED 31 DECEMBER 2023`**
## **`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 2023`**
**----- 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 15
Detailed Statement of Financial Activities 16
**----- End of picture text -----**
```
THE PEASMARSH CHAMBER MUSIC
FESTIVAL TRUST
```
## **`TRUSTEES' REPORT FOR THE YEAR ENDED 31 DECEMBER 2023`**
```
ThetrusteeswhoarealsodirectorsofthecharityforthepurposesoftheCompaniesAct2006, present
theirreportwiththefinancialstatementsofthecharityfortheyearended31December2023. 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
companies and charitable trusts, as well as Rother District Council and Sussex Community Foundation.
```
```
Page 1
```
```
THE PEASMARSH CHAMBER MUSIC
FESTIVAL TRUST
```
```
TRUSTEES' REPORT
FOR THE YEAR ENDED 31 DECEMBER 2023
```
## **`ACHIEVEMENT AND PERFORMANCE`**
```
FollowingtheendoftheCOVID-19pandemic,theDirectorsweredelightedtobeabletopresent a
FestivalofliveconcertsinJune2023.Wepresentedconcertsinourprincipalconcertvenuesof the
Church of St Peter and St Paul in Peasmarsh and St Mary's Church in Rye.
```
## **`Artistic activity`**
```
The2023Festivalwasthe25thfestivalpresentedinPeasmarsh,includingtheearlyfestivals presented
undertheoriginalnameoftheFlorestanFestivalatPeasmarsh.TheFestivaltookplaceoverfourdays, 22
to 25 June 2023, with education workshops taking place in five local schools during the previous week.
```
```
Thefestivalcomprised9concerts,sevenheldattheChurchofStPeterandStPaul,Peasmarsh, East
Sussex,andtwoatStMary'sChurch,Rye.Weweredelightedtocontinueoureducationpartnerships with
Winchelsea, Icklesham, Rye, Peasmarsh and Beckley Primary Schools.
```
```
InadditiontoAnthonyMarwood(violin)andRichardLester(cello)theartistsperformingatthe Festival
were:
```
```
Simone van der Giessen, viola
Stefan Kassomenos, piano
Alexander Madzar, piano
Samuel West, actor
The Kleio Quartet
The Valo Quartet
Britten Sinfonia
```
```
ItisacentralaimoftheCompanytoinviteartistsofthehigheststandardtothefestivaleachyear, which
wasachievedthroughtheseinternationallyacclaimedguestperformers.Additionally,theFestival always
supportsyoungprofessionalmusicians,givingthemperformanceopportunitiestodeveloptheir careers
asprofessionalmusicians.In2023,theawardwinningKleioQuartetjoinedusand,inaddition to
performinganumberofworksduringtheFestival,alsoworkedwithchildrenparticipatingin our
education programme.
```
```
TheFestivalaimstoincludeacombinationoftraditionalandlessfamiliarrepertoireeachyear.In 2023
ourpublicperformancesincludedworksbycomposersrangingfromMozarttoSaint-Saëns,Shönberg to
Adès, and works by both Felix and Fanny Mendelssohn.
```
## **`Education projects`**
```
In2023theCompanycontinuedtoworkwithincludefivepartnerschools,RyePrimary,St. Thomas'
Winchelsea,IckleshamPrimary,BeckleyChurchofEnglandPrimarySchoolandPeasmarshChurch of
EnglandPrimarySchool.Theprojectconsistedofworkshopsineachschoolledbyexperienced Education
ProjectLeaderSamGlazer,accompaniedbymembersoftheKleioQuartet.Theparticipating children
werebroughttogetherintoalarge-scaleculminationconcertinSt.Mary'sChurchinRye.Anaudience of
around250teachers,parentsandfestivalsupportersattendedthisconcert,whichwasverywell received
by all who attended.
```
```
WeareverygratefulforthesupportwereceivedfromRotherDistrictCouncilandtheLittleCheyne Court
WindFarmLtd.,operatedbyInnogyRenewablesUKLimitedandco-ordinatedbySussex Community
Foundation,theKowitzFamilyFoundation,ArtsSocietyHighWealdandtheRudiMartinusvan Dijk
Foundation to fund our education work.
```
## **`Principal Achievements, and their financial impact`**
```
The principal achievements of The Peasmarsh Chamber Music Festival Trust during 2023 were as follows:
-Presentationofninehighqualitypublicconcerts,deliveringsignificantpublicbenefittothemembers of
theaudiencethroughtheirattendanceattheFestival.Anumberoftheseconcertswerewellsold,and we
were able to increase box office income relative to 2022.
```
```
-AnumberofnewsupporterswereinvitedtosupporttheCharityin2023,followingourfundraising event
in November 2022.
```
```
-EducationworkshopswereheldatRye,Winchelsea,Icklesham,BeckleyandPeasmarshPrimary Schools
marking a significant broadening of our education programme and creation of new partnerships
```
```
Page 2
```
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THE PEASMARSH CHAMBER MUSIC
FESTIVAL TRUST
```
## **`TRUSTEES' REPORT FOR THE YEAR ENDED 31 DECEMBER 2023`**
```
-OureducationculminationconcertinStMary'sRyebroughtallfiveschoolstogetherforthefirst time.
This concert format was very well received by all five schools.
```
## **`FINANCIAL REVIEW`**
## **`Reserves policy`**
```
TheaimoftheTrusteeshasbeentoretainsufficientreservestocoverapproximatelysixmonths of
operatingexpenses.Inordertoachievethis,theCompanygenerallyraisesfundstocoverthecosts of
thePeasmarshChamberMusicFestivalnotcoveredfromticketsalesthroughattractingdonations from
FriendsandPatronsaswellasdonationsfromgrant-givingtrusts,withtheaimofgeneratinga small
contributiontoreserveswherepossible.ThisalsoenablestheCompanytoinvestinmore significant
artisticprojectsfromtimetotimewhilecreatingincreasedfinancialresiliencefortheCompany. Thanks
tothereceiptoftwosignificantlegaciesduringthepastfewyears,thelevelofreservescurrently exceed
theagreedminimumlevel.Thetrusteesbelievethatthelevelofgeneralreservesisbothsufficient to
meet these aims, and to provide some financial support in continuing uncertain times.
```
```
Thetrusteesaremindfulofincreasinginterestrates,andassuchsincetheyearendtheCharity has
invested£97,954inaninterestbearingfixedtermdepositaccount.Thisamountrepresentsthetotal of
legacyfundsreceivedin2021and2022.Includingaccruedincrease,thisamounthadincreased to
£99,485 at the end of 2023.
```
## **`Financial Review`**
```
Theincomeofthecompanyisgenerallyderivedfromticketsalesforpublicconcertperformancesas well
asdonationsfromgrant-givingcompaniesandsupportfromindividuals.TheCompanyis particularly
gratefultoFriendsandPatrons,andotherindividualdonorsfortheircommitmenttothe Peasmarsh
ChamberMusicFestival.During2023,theCharitywasdelightedtowelcomebackanumberof Friends
andPatrons,whosesupportisinvaluable.At31December2023theCharity'sreservesstood at
£142,086,including£99,485legacies,whichhavebeenplacedinadesignatedfundasdescribed further
below.
```
```
During2023theFriendsandPatronsofthePeasmarshChamberMusicFestivaldonated£47,295 (2022:
£47,944)tosupportthefestival.Thecompanyalsobenefitedfromadditionalgiftaidof£7,582 (2022:
£9,096). The company secured grants totalling £5,000 in 2023 (2022: £5,600).
```
```
Thetotalincomeofthecompanyfromallsourceswas£96,777(2022:£160,743);theprincipal change
camefromthefactthatwehadreceivedasignificantlegacyin2022,whichwasnotrepeatedin2023. At
theendoftheperiodthecompanyhad£142,085(2022:£149,125)inunrestrictedfundsand£0 (2022
£0)inrestrictedfunds,therestrictedfundssecuredforeducationhavingbeenspentoneducation work
during the year.
```
```
Page 3
```
```
THE PEASMARSH CHAMBER MUSIC
FESTIVAL TRUST
```
## **`TRUSTEES' REPORT FOR THE YEAR ENDED 31 DECEMBER 2023`**
## **`FUTURE PLANS`**
```
InJune2024,thePeasmarshChamberMusicFestivalwasabletotakeplaceasinpastyears,witha very
successfulfourdaysofconcerts.CapacitywasincreasedinbothPeasmarshandRyechurches.Nine live
concertswereheldacrossfourdays,includingalargescaleeducationperformanceinStMary'sChurch in
Rye which brought performers together from around 150 participants in our five partner schools.
```
```
OurpartnerschoolsallundertookworkshopsinMayandJune2024,andallfivepartnerschools have
indicatedtheirenthusiasmforacontinuinginvolvementintheCharity'seducationalprogrammein future
years.
```
```
Itisintendedthatinfutureyearsthecompanywillagainsupportafourdayfestivalofchambermusic, at
whichAnthonyMarwoodandRichardLesterwillperformandinviteotherleadingmusicianstojoin them
in presenting an eclectic programme of classical music.
```
```
ThetrusteesareverygratefultoallthosesupporterswhohavedonatedtotheCompanyduring 2023.
Thereceiptofsignificantlegaciesinboth2022and2021hasenabledtheCharitytomake some
ambitiousplansforthefuture.TheTrusteeshaveallocatedtheselegacyfundsintoadesignatedfund to
support specific projects as distinct from funding ongoing operational costs.
```
```
Itisintendedthatthelegacyfundsareusedtocommissionaseriesofnewworksforchamber ensemble
inpartnershipwithselectedvenuesintheUKandfurtherafield.Thesecommissionswillensureboth an
enduringmusicallegacybecreatedwiththesefundsand,throughthesepartnerships,that additional
publicbenefitbederivedthroughsharingthesenewlycommissionedworkswithawideraudience than
attendstheFestival.Itishopedthattheseworksmightberecordedsuchthattheymightalsobe made
availablemorewidelythroughdigitalplatforms.Discussionsareongoingplacebothwithcomposers who
mightbesuitablecandidatesforthesecommissionsandwiththeWigmoreHall,whichhasoffered the
Charity three dates from 2025 onwards on which to perform these new works.
```
## **`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
considerthedetailedoperationsofthecompanyandtheassociatedrisksattheirregular trustees'
meetings. A detailed risk assessment is carried out each June ahead of the annual Festival.
```
```
Page 4
```
```
THE PEASMARSH CHAMBER MUSIC
FESTIVAL TRUST
```
## **`TRUSTEES' REPORT`**
## **`FOR THE YEAR ENDED 31 DECEMBER 2023`**
## **`REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number`**
```
04625088 (England and Wales)
```
## **`Registered Charity number`**
```
1095978
```
## **`Registered office`**
```
Landgate Chambers
Rye
East Sussex
TN31 7LJ
```
## **`Trustees`**
```
D Brierwood - appointed 22.03.23
G Dunning KC
V Dyer
R Jennings
P Millett
S Mortimore KC (Chair)
D A Rowland - appointed 20.12.23
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 25 September 2024 and signed on its behalf by:
```
```
G Dunning - 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 2023.
```
## **`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
outmyexaminationIhavefollowedtheDirectionsgivenbytheCharityCommissionunder Section
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.
```
```
Mr David Ashby
```
```
The Association of Chartered Certified Accountants
```
```
Gibbons Mannington & Phipps LLP
```
```
Chartered Accountants
82 High Street
Tenterden
Kent
TN30 6JG
```
```
26 September 2024
```
```
Page 6
```
```
THE PEASMARSH CHAMBER MUSIC
FESTIVAL TRUST
```
## **`STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2023`**
|`Unrestricted`
`funds`
`Notes`
`£`
**`INCOME AND ENDOWMENTS FROM`**
`Donations and legacies`
`2`
**`48,316`**
**`Charitable activities`**
`4`
`Peasmarsh Festival Ticket sales`
**`31,591`**
`Programmes and advertising`
**`2,757`**
`Gift Aid`
**`7,582`**
`Investment income`
`3`
**`1,531`**
**`Total`**
**`91,777`**
**`EXPENDITURE ON`**
**`Charitable activities`**
`5`
`Programmes and advertising`
**`9,482`**
`Concerts & Education programmes`
**`84,633`**
`Other`
**`2,283`**
**`Total`**
**`96,398`**
**`NET INCOME/(EXPENDITURE)`**
**`(4,621)`**
**`Transfers between funds`**
`12`
**`(2,419)`**
**`Net movement in funds`**
**`(7,040)`**
**`RECONCILIATION OF FUNDS`**
`Total funds brought forward`
**`149,125`**
**`TOTAL FUNDS CARRIED FORWARD`**
**`142,085`**|`Restricted`
`fund`
`£`
**`5,000`**
**`-`**
**`-`**
**`-`**
**`-`**
**`5,000`**
**`-`**
**`7,419`**
**`-`**
**`7,419`**
**`(2,419)`**
**`2,419`**
**`-`**
**`-`**
**`-`**|**`2023`**
**`Total`**
**`funds`**
**`£`**
**`53,316`**
**`31,591`**
**`2,757`**
**`7,582`**
**`1,531`**
**`96,777`**
**`9,482`**
**`92,052`**
**`2,283`**
**`103,817`**
**`(7,040)`**
**`-`**
**`(7,040)`**
**`149,125`**
**`142,085`**|_`2022`_
_`Total`_
_`funds`_
_`£`_
_`115,702`_
_`33,364`_
_`2,581`_
_`9,096`_
_`-`_|
|---|---|---|---|
||||_`160,743`_|
||||_`6,790`_
_`87,625`_
_`2,455`_|
||||_`96,870`_|
||||_`63,873`_
_`-`_|
||||_`63,873`_
_`85,252`_|
||||_`149,125`_|
```
The notes form part of these financial statements
```
```
Page 7
```
```
THE PEASMARSH CHAMBER MUSIC
FESTIVAL TRUST
```
## **`BALANCE SHEET 31 DECEMBER 2023`**
|`Unrestricted`
`funds`
`Notes`
`£`
**`CURRENT ASSETS`**
`Debtors`
`10`
**`9,769`**
`Cash at bank and in hand`
**`144,297`**
**`154,066`**
**`CREDITORS`**
`Amounts falling due within one year`
`11`
**`(11,981)`**
**`NET CURRENT ASSETS`**
**`142,085`**
**`TOTAL ASSETS LESS CURRENT`**
**`LIABILITIES`**
**`142,085`**
**`NET ASSETS`**
**`142,085`**
**`FUNDS`**
`12`
`Unrestricted funds`
**`TOTAL FUNDS`**|`Restricted`
`fund`
`£`
**`-`**
**`-`**
**`-`**
**`-`**
**`-`**
**`-`**
**`-`**|**`2023`**
**`Total`**
**`funds`**
**`£`**
**`9,769`**
**`144,297`**
**`154,066`**
**`(11,981)`**
**`142,085`**
**`142,085`**
**`142,085`**
**`142,085`**
**`142,085`**|_`2022`_
_`Total`_
_`funds`_
_`£`_
_`9,823`_
_`149,752`_
_`159,575`_
_`(10,450)`_
_`149,125`_
_`149,125`_
_`149,125`_
`149,125`
`149,125`|
|---|---|---|---|
```
ThecharitablecompanyisentitledtoexemptionfromauditunderSection477oftheCompaniesAct 2006
for the year ended 31 December 2023.
```
```
Themembershavenotrequiredthecompanytoobtainanauditofitsfinancialstatementsforthe year
ended 31 December 2023 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
25 September 2024 and were signed on its behalf by:
```
```
G Dunning - Trustee
```
```
The notes form part of these financial statements
```
```
Page 8
```
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THE PEASMARSH CHAMBER MUSIC
FESTIVAL TRUST
```
```
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
```
## **`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
```
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THE PEASMARSH CHAMBER MUSIC
FESTIVAL TRUST
```
## **`NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2023`**
|**`2.`**
**`DONATIONS AND LEGACIES`**
`Gifts and donations`
`Legacies`
`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`
**`5.`**
**`CHARITABLE ACTIVITIES COSTS`**
`Programmes and advertising`
`Concerts & Education programmes`
**`6.`**
**`SUPPORT COSTS`**
`Other`
`£`
`Other resources expended`
**`811`**||
|---|---|
|||
```
continued...
```
```
Page 10
```
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THE PEASMARSH CHAMBER MUSIC
FESTIVAL TRUST
```
## **`NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2023`**
## **`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:`|||
|---|---|---|
||**`2023`**|_`2022`_|
||`Other`||
||`resources`|`Total`|
||`expended`|`activities`|
||**`£`**|_`£`_|
|`Insurance`|**`653`**|**_`710`_**|
|`Post, stationery and office supplies`|**`158`**|**_`289`_**|
|`Bank charges`|**`263`**|**_`209`_**|
|`Sundries`|**`13`**|**_`35`_**|
|`Accountancy`|**`1,196`**|**_`1,212`_**|
||**`2,283`**|**_`2,455`_**|
## **`7. TRUSTEES' REMUNERATION AND BENEFITS`**
```
Therewerenotrustees'remunerationorotherbenefitsfortheyearended31December2023 nor
for the year ended 31 December 2022.
```
## **`Trustees' expenses`**
```
Therewerenotrustees'expensespaidfortheyearended31December2023norforthe year
ended 31 December 2022.
```
## **`8. STAFF COSTS`**
```
Therewerenoemployeesorstaffcostsfortheyearended31December2023norforthe year
ended 31 December 2022.
```
## **`9. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES`**
|**`COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES`**|||
|---|---|---|
|`Unrestricted`
`funds`
`£`
**`INCOME AND ENDOWMENTS FROM`**
`Donations and legacies`
`110,102`
**`Charitable activities`**
`Peasmarsh Festival Ticket sales`
`33,364`
`Programmes and advertising`
`2,581`
`Gift Aid`
`9,096`
**`Total`**
`155,143`
**`EXPENDITURE ON`**
**`Charitable activities`**
`Programmes and advertising`
`6,790`
`Concerts & Education programmes`
`82,333`
`Other`
`2,455`
**`Total`**
`91,578`
**`NET INCOME`**
`63,565`
**`Transfers between funds`**
`308`
**`Net movement in funds`**
`63,873`|`Restricted`
`fund`
`£`
`5,600`
`-`
`-`
`-`
`5,600`
`-`
`5,292`
`-`
`5,292`
`308`
`(308)`
`-`|`Total`
`funds`
`£`
`115,702`
`33,364`
`2,581`
`9,096`|
|||`160,743`|
|||`6,790`
`87,625`
`2,455`|
|||`96,870`|
|||`63,873`
`-`|
|||`63,873`|
```
continued...
```
```
Page 11
```
```
THE PEASMARSH CHAMBER MUSIC
FESTIVAL TRUST
```
## **`NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2023`**
|**`9.`**
**`COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES`**
`Unrestricted`
`funds`
`£`
**`RECONCILIATION OF FUNDS`**
`Total funds brought forward`
`85,252`
**`TOTAL FUNDS CARRIED FORWARD`**
`149,125`
**`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 1/1/23`
`in funds`
`£`
`£`
**`Unrestricted funds`**
`General fund`
**`51,171`**
**`(6,152)`**
`Designated funds`
**`97,954`**
**`1,531`**
**`149,125`**
**`(4,621)`**
**`Restricted funds`**
`Restricted Funds`
**`-`**
**`(2,419)`**
**`TOTAL FUNDS`**
**`149,125`**
**`(7,040)`**|**`-`**|**`continued`**
`Restricted`
`fund`
`£`
`-`
`-`
**`2023`**
**`£`**
**`9,564`**
**`205`**
**`9,769`**
**`2023`**
**`£`**
**`2,551`**
**`8,350`**
**`1,080`**
**`11,981`**
`Transfers`
`between`
`funds`
`£`
**`(2,419)`**
**`-`**
**`(2,419)`**
**`2,419`**
**`-`**|`Total`
`funds`
`£`
`85,252`
`149,125`
_`2022`_
_`£`_
_`9,693`_
_`130`_
_`9,823`_
_`2022`_
_`£`_
_`2,320`_
_`6,950`_
_`1,180`_
_`10,450`_
`At`
`31/12/23`
`£`
**`42,600`**
**`99,485`**
**`142,085`**
**`-`**
**`142,085`**|`Total`
`funds`
`£`
`85,252`|
|---|---|---|---|---|
|||||`149,125`|
||||||
||||||
||||||
||||||
||||||
```
continued...
```
```
Page 12
```
```
THE PEASMARSH CHAMBER MUSIC
FESTIVAL TRUST
```
## **`NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2023`**
## **`12. MOVEMENT IN FUNDS - continued`**
```
Net movement in funds, included in the above are as follows:
```
|**`Unrestricted funds`**
`General fund`
`Designated funds`
**`Restricted funds`**
`Restricted Funds`
**`TOTAL FUNDS`**|`Incoming`
`resources`
`£`
**`90,246`**
**`1,531`**
**`91,777`**
**`5,000`**
**`96,777`**|`Resources`
`expended`
`£`
**`(96,398)`**
**`-`**
**`(96,398)`**
**`(7,419)`**
**`(103,817)`**|`Movement`
`in funds`
`£`
**`(6,152)`**
**`1,531`**
**`(4,621)`**
**`(2,419)`**
**`(7,040)`**|
|---|---|---|---|
## **`Comparatives for movement in funds`**
|`At 1/1/22`
`£`
**`Unrestricted funds`**
`General fund`
`85,252`
`Designated funds`
`-`
`85,252`
**`Restricted funds`**
`Restricted Funds`
`-`
**`TOTAL FUNDS`**
`85,252`
`Comparative net movement in funds, included in the above`
**`Unrestricted funds`**
`General fund`
`Designated funds`
**`Restricted funds`**
`Restricted Funds`
**`TOTAL FUNDS`**|`Net`
`Transfers`
`movement`
`between`
`in funds`
`funds`
`£`
`£`
`5,611`
`(39,692)`
`57,954`
`40,000`
`63,565`
`308`
`308`
`(308)`
`63,873`
`-`
`are as follows:`
`Incoming`
`Resources`
`resources`
`expended`
`£`
`£`
`97,189`
`(91,578)`
`57,954`
`-`
`155,143`
`(91,578)`
`5,600`
`(5,292)`
`160,743`
`(96,870)`|`At`
`31/12/22`
`£`
`51,171`
`97,954`
`149,125`
`-`
`149,125`
`Movement`
`in funds`
`£`
`5,611`
`57,954`
`63,565`
`308`
`63,873`|
|---|---|---|
```
continued...
```
```
Page 13
```
```
THE PEASMARSH CHAMBER MUSIC
FESTIVAL TRUST
```
## **`NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2023`**
## **`12. MOVEMENT IN FUNDS - continued`**
```
A current year 12 months and prior year 12 months combined position is as follows:
```
|**`Unrestricted funds`**
`General fund`
`Designated funds`
**`Restricted funds`**
`Restricted Funds`
**`TOTAL FUNDS`**|`At 1/1/22`
`£`
`85,252`
`-`
`85,252`
`-`
`85,252`|`Net`
`movement`
`in funds`
`£`
`(541)`
`59,485`
`58,944`
`(2,111)`
`56,833`|`Transfers`
`between`
`funds`
`£`
`(42,111)`
`40,000`
`(2,111)`
`2,111`
`-`|`At`
`31/12/23`
`£`
`42,600`
`99,485`
`142,085`
`-`
`142,085`|
|---|---|---|---|---|
```
Acurrentyear12monthsandprioryear12monthscombinednetmovementinfunds,included in
the above are as follows:
```
|**`Unrestricted funds`**
`General fund`
`Designated funds`
**`Restricted funds`**
`Restricted Funds`
**`TOTAL FUNDS`**|`Incoming`
`resources`
`£`
`187,435`
`59,485`
`246,920`
`10,600`
`257,520`|`Resources`
`expended`
`£`
`(187,976)`
`-`
`(187,976)`
`(12,711)`
`(200,687)`|`Movement`
`in funds`
`£`
`(541)`
`59,485`
`58,944`
`(2,111)`
`56,833`|
|---|---|---|---|
## **`Transfers between funds`**
```
Thetransferfromtherestrictedtounrestrictedfundsrepresentsthecontributiontothecostto the
Charity of administering the education projects.
```
## **`13. RELATED PARTY DISCLOSURES`**
```
Thetotalamountofdonationsreceivedfromtrusteesduringtheyear,withoutconditions, totalled
£4,550 (2022: £10,180).
```
```
continued...
```
```
Page 14
```
```
THE PEASMARSH CHAMBER MUSIC
FESTIVAL TRUST
```
## **`NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2023`**
## **`14. CONTINGENT ASSETS`**
```
Thecharitywasnotifiedofalegacyduringtheyearof£11,818whichwasnotreceiveduntil after
the year end.
```
```
Page 15
```