OpenCharities

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

2020-12-31-accounts

Registered number: 04833113 Charity number: 1099203

,

THE TETBURY MUSIC FESTIVAL (A company limited by guarantee)

UNAUDITED

TRUSTEES' REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021

THE TETBURY Music FESTIVAL (A company limited by guarantee)

———ee

CONTENTS

----- Start of picture text -----
||||||||||| |---|---|---|---|---|---|---|---|---|---| |Page| |Reference|and|administrative|details|of the|charity,|its trustees|and|advisers|1| |Trustees’|report|2-5| |Independent examiner's report|,|6| |Statement|of financial|activities|—|7| |Balance sheet|;|8| ||| |Notes to the financial Statements|9-17|

----- End of picture text -----

EEEEEEEEEEEEEEEEEEEEET

,

Neen nnn

. : THE TETBURY MUSIC FESTIVAL

(A company limited by guarantee)

ee OE EE —eS<0o703u5ue REFERENCE AND ADMINISTRATIVE DETAILS OF THE COMPANY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 DECEMBER 2021

Trustees

Christopher Cooke James Golob Alexandra Graves Caroline Weller Knight Helen Priday Christopher Rose Lady Smith (resigned 6 August 2020) Sir Martin Smith (resigned 6 August 2020)

.

,

Company registered number

04833113

Charity registered number

1099203

Registered office

Park Farm Shipton Moyne Tetbury Gloucestershire GL8 8PR

Accountants

Randall & Payne LLP Chargrove House Shurdington Road Cheltenham Gloucestershire GL51 4GA

Solicitors

Tanners Solicitors LLP Lancaster House Thomas Street Cirencester Gloucestershire GL7 2AX

_

----- Start of picture text -----
="
----- End of picture text -----

Page 1

.

THE TETBURY MUSIC FESTIVAL (A company limited by guarantee)

TRUSTEES’ REPORT FOR THE YEAR ENDED 31 DECEMBER 2021

The Trustees present their annual report together with the financial statements of the company for the 1 January 2021 to 31 December 2021. The Trustees confirm that the Annual Report and financial statements of the company comply with the current statutory requirements, the requirements of the company's governing document and the provisions of the Statement of Recommended Practice (SORP), applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2015) as amended by Update Bulletin 1 (effective 1 January 2015). Since the company qualifies as small under section 383, the strategic report required of medium and large companies under The Companies Act 2006 (Strategic Report and Director's Report) Regulations 2013 is not required. ,

Objectives and Activities

a. Policies and objectives

The objective of Tetbury Music Festival is to ‘promote, maintain, improve and advance the education of the public in the art and science of music by the presentation of public concerts and recitals.’ 5

The Trustees are aware of The Charity Commission's Public Benefit rules and its guidelines as to interpretation of the relevant section of the Charities Act 2011. They are satisfied that the objects of the Charity and the activities of the Charity are within the definitions of Charitable Purposes as set down in the Act. The Trustees are not aware of any public detriment caused by the Charity's objects or activities, and nor are they aware of anyone receiving any form of private benefit from the Charity’s activities.

b. Activities for achieving objectives

The Tetbury Music Festival of 2021 was destined to consist of five concerts over five days, 26th September and 1st — 4th October 2021, with a view to fulfilling its objective to ‘promote, maintain, improve and advance the education of the public in the art and science of music by the presentation of public concerts and recitals.’

c. Volunteers

:

The Festival continues to be the grateful beneficiary of the pro bono work of its Trustees and supporters.

Achievements and performance

a. Review of activities

After the disappointment of the previous year, where sadly we had to cancel the Festival due to the Covid-19 pandemic, it was wonderful that once again we were able to present programmes and performers of the highest artistic standards, and the Festival's reputation for excellence has continued to grow. We continued to keep ticket prices as low as possible (from £10 to £35), and we again offered free access to children between 8 and 16 when accompanied by an adult. We are proud that a significant portion of our audience comes from within a radius of 20 miles of Tetbury, but our audience also consists of music lovers from much further afield.

Following the success of the Saturday pre-concert.lecture slot in previous years, we repeated this formula this year with an interview of Dame Jane Glover by Donald Macleod. This was held at the Tetbury Goods Shed Arts Centre and was better attended than any lecture or interview the Festival has hitherto arranged.

On the subject of venues, in order to de-risk the chances of the Festival concerts not being able to take place in St Marys’ Tetbury, where until the eleventh hour there was a real possibility of seating restrictions being

es

Page 2

THE TETBURY MUSIC FESTIVAL (A company limited by guarantee)

|

TRUSTEES’ REPORT (continued) a, FOR THE YEAR ENDED 31 DECEMBER 2021

imposed which would have made the concerts financially unviable, the Festival decided to hold the Thursday and Friday night concerts at Holy Trinity Church in Minchinhampton, six miles away from Tetbury. This added materially to the organisational logistics of putting on the Festival but our audiences were most appreciative of the efforts made, not to mention the workload involved, in hosting the concerts at two different venues.

We therefore express our sincere gratitude to the team at Holy Trinity, for enabling us to use their splendidly refurbished facility with particular thanks to the verger, Darren Clements, whose on site presence was greatly appreciated. ; We are also, as always, grateful to the Rev Veronica Hughes and the Tetbury PCC for allowing us to use St Marys’ Church for the concerts on Saturday and Sunday, for which privilege the Festival pays a charge.

Financial review

;

a. Going concern

After making appropriate enquiries, the Trustees have a reasonable expectation that the company has ‘adequate resources to continue in operational existence for the foreseeable future. For this reason they continue to adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in the Accounting Policies.

b. Reserves policy

.

Mindful of the problems that an economic crisis such as that seen in the 2008 ‘Credit Crunch’ would cause for the arts, as well as the uncertainties posed by Brexit, the Festival continues to maintain its reserves at a level which the Trustees believe is sufficient to withstand a possible reduction in income in the face of what may prove to be a period of continued economic instability. A base level of £20,000 of unrestricted funds is considered by the Trustees to be a minimum prudent reserve to have in the bank at any calendar year end. These reserves, which we review on an ongoing basis, enable the Festival to have the confidence to embark on projects which, while advancing the standing of the Festival and maintaining its artistic integrity, may carry a degree of financial risk. At the end of 2021 our reserves once again stood usefully above that £20,000 base level number — rather more so than in recent years due to the generosity of three large sponsors as well as careful husbandry of our finances and resources in a year of considerable ongoing uncertainty.

As at the 31 December 2021, reserves consisted of £48,550 (2020: £27,838) general, unrestricted reserves and £400 of restricted reserves in relation to the Music In Local Schools fund. These are held to enable the continued operations of the charity.

The charity received a donation of £1,200 in a prior year from an individual donor to be used to fund "Music in Local Schools" of which £400 remains. The Trustees are currently examining a number of options to ensure the best use of these funds.

c. Principal funding

The Friends of the Tetbury Music Festival — the ‘Dolphins’ — are collectively and individually very important donors and supporters. Their numbers, and thus their financial support, continues to grow each year with the number of subscribing Dolphins having reached a record 169 in 2021. Sir Martin and Lady Smith in particular © continue to contribute in a meaningful way by making their home available to the Festival when such a venue is needed and their accompanying hospitality is undoubtedly to the benefit of the charity and its objectives.

Structure, governance and management

.

Page 3

7

|

—_—

TEENIE

) THE TETBURY MUSIC FESTIVAL (A company limited by guarantee)

ep a SES 5 a I . TRUSTEES' REPORT (continued) - . FOR THE YEAR ENDED 31 DECEMBER 2021

a. Constitution

.., The company is registered as a charitable company limited by guarantee and was set up by a Memorandum of Association on 10 July 2003.

The company is constituted under a.Memorandum of Association dated 10 July 2003 and is a registered charity number 1099203. ,

)

The principal objects of the company are to promote, maintain, improve and advance the education of the public. : in the art and science of music by the presentation of public concerts and recitals. .

b. Method of. appointment or election of Trustees

The management of the company is the responsibility of the Trustees who are elected and co-opted underthe terms of the Articles of Association.

c. Organisational structure and decision making

;

d. Risk management

The Board of Trustees is responsible for the management of the tisks faced by the charity. In the opinion of the Trustees, however, there are no major risks to which the Charity is exposed, and continued responsible administration will ensure that there is no budget deficit. ;

)

Plans for future periods.

a. Future developments

3

The charity will continue to operate in line with historic operations (subject to.any new Covid restrictions) with the _ Tetbury Music Festival programme 2022 already available and featuring 4 events between 24 September and 2 October 2022. , .

Members’ liability . The Members in the event of windingof the companyup. guarantee to contribute an amount not exceeding. £1 to the assets of the charity

This report was approved by the Trustees, on Z. 3.2022 and signed on their behalf by:

,

,

Page 4

|

THE TETBURY MUSIC FESTIVAL (A company limited by guarantee)

TRUSTEES’ REPORT (continued) , FOR THE YEAR ENDED 31 DECEMBER 2021

4 Christopher Rose TChairman)

Page 5

THE TETBURY MUSIC FESTIVAL (A company limited by guarantee)

INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 DECEMBER 2021

Independent examiner's report to the Trustees of The Tetbury Music Festival (the 'company')

| report to the charity Trustees on my examination of the accounts of the company for the year ended 31 December 2021.

This report is made solely to the company's Trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. My work has been undertaken so that | might state to the company's Trustees those matters | am required to state to them in an Independent examiner's report and for no other purpose. To the fullest extent permitted by law, | do not accept or assume responsibility to anyone other than the company and the company's Trustees as a body, for my work or for this report.

Responsibilities and basis of report

As the Trustees of the company (and its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 (‘the 2006 Act’).

Having satisfied myself that the accounts of the company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, | report in respect of my examination of the company's accounts carried out under section 145 of the Charities Act 2011 (‘the 2011 Act’). In carrying out my examination | have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.

Independent examiner's statement

| have completed my examination. | can confirm that no matters have come to my attention in 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 givea '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)].

| have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

Signed: Mn i commen T Watkins FCA Randall & Payne LLP

Dated: 3.4 2022 |

Page 6

;

:

THE TETBURY MUSIC FESTIVAL {A company limited by guarantee)

STATEMENT OF FINANCIAL ACTIVITIES INCORPORATING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 DECEMBER 2021

Unrestricted Restricted Total Total
funds funds funds funds
2021 2021 2021 2020
Note £ £° £ £
Incomefrom:
Donations and legacies
Charitable activities		 2.
3		 25,500
46,115		 -
-		 25,500
46,115		 -
26,829
Investments 4 3 - 3 10
Totalincome 71,618 - 71,618 26,839
Expenditure on:
Raising funds 5 3,765 “ 3,765 2,685
Charitable activities 47,141 -. 47,141 19,755
Total expenditure 7 50,906 - 50,906 22,440
Netincome before other recognised gains
and losses 20,712 - 20,712 4,399
Net movement infunds 20,712 - 20,712 4,399
Reconciliation of funds:
Total funds broughtforward 27,838 400 28,238 23,839
Total fundscarriedforward 48,550
400
48,950
28,238
eee

The notes on pages 9 to 17 form part of these financial statements.

Page 7

;

:

:

.

;

re
ee		 re
ee		 re
ee		 re
ee		 re
ee		 re
ee		 re
ee		 re
ee		 re
ee		 re
ee		 re
ee
THETETBURYMUSIC FESTIVAL
- (Acompany limitedbyguarantee)
REGISTERED NUMBER: 04833113 .
eRaE SE ES SS EETSET Se sr TE OES SR
BALANCESHEET
ASAT 31 DECEMBER2021
.
4
 2021
Note £ £ £ £
Current assets
Debtors 10 3,475 4,387 .
Cash atbank and in hand Oo 55,701 86,176 -
. 59,176 40,563
Creditors: amounts fallingdue duewithinone
year ; ; - a (10,226) (12,325)
Netcurrentassets. 48,950 . 28,238
.
Netassets 48,950 28,238
CharityFunds oe . a
Restricted funds ; 12 400 400
Unrestrictedfunds 12 48,550 27,838
Totalfunds 48,950 . 28,238

The company's financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

. The Trustees consider that the company is entitled to exemption from the requirement to. have an audit under the provisions of section 477 of the Companies Act 2006 ("the Act") and members have not required the company to obtain an audit for the year in question in accordance with section 476 of the Act. ,

----- Start of picture text -----
The Trustees acknowledge their responsibilities for complying with the requirements of the Companies Act 2006
with respect to accounting records and the preparation of financial statements. . .
) The financial statements were approved and authorised for issue by the Trusteeson 2. %.~.2022 and
Christop!deuunuoee sevcccesscrstiethece2 eoons . AlexandraCUDDOEUEEUCSUDEKOnDRaCeeDn GravesOE (Trustee) HOOGGEenEnDEDRNO DAES
: The notes on pages 9 to 17 form part of these financial statements. .
----- End of picture text -----

Page 8

:

THE TETBURY MUSIC FESTIVAL . (A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021

  1. Accounting policies

1.1 Basis of preparation of financial statements

The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2015) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.

The Tetbury Music Festival meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.

1.2 Company status

The company is a private company limited by guarantee incorporated within England & Wales. The company's registered address is Park Farm, Shipton Moyne, Tetbury, Gloucestershire, GL8 8PR. The members of the company are the Trustees named on page 1.

In the event of the company being wound up, the liability in respect of the guarantee is limited to £1 per member of the company.

The charity's operations and the principal activity of the company is to provide musical concerts and recitals to members of the public.

1.3 Going concern

, There are no material uncertainties that may cast significant doubt on the Charity's ability to continue - @§ a going concern. Despite the Covid-19 pandemic, the trustees are of the opinion that reserves _ femain sufficientfor the objectives of the Charity to be achieved in the next 12 months. ; a Page 9

THE TETBURY MUSIC FESTIVAL

————

(A company limited by guarantee)

a I I TTT CAO! EI NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021

, 1. Accounting policies (continued)

1.4 Income

All income is recognised once the company has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.

:

For legacies, entitlement is taken as the earlier of the date on which either: the company is aware that probate has been granted, the estate has been finalised and notification has been made by the executor(s) to the Trust that a distribution will be made, or when a distribution is received from the estate. Receipt of a legacy, in whole or in part, is only considered probable when the amount can be measured reliably and the company has been notified of the executor's intention to make a distribution. Where legacies have been notified to the company, or the company is aware of the granting of probate, and the criteria for income recognition have not been met, then the legacy is treated as a contingent asset and disclosed if material. , Donated services or facilities are recognised when the company has control over the item, any conditions associated with the donated donated item have been mei, the.receipt of economic benefit from economic benefit from benefit from from the use of the company of the item is probable and that economic benefit can be measured reliably. In accordance with the Charities SORP (FRS 102), the general volunteer time of the Friends is not recognised and refer to the Trustees’ to the Trustees’ the Trustees’ Trustees’ report for for more information about their contribution. On receipt, donated professional services and donated facilities are recognised on the basis of the value of the gift to the company which is the amount the company would have been willing to pay to obtain services or facilities of equivalent economic benefit on the open’ market; a corresponding amount is then recognised in expenditure in the period of receipt. .

Donated services or facilities are recognised when the company has control over the item, any conditions associated with the donated donated item have been mei, the.receipt of economic benefit from economic benefit from benefit from from the use of the company of the item is probable and that economic benefit can be measured reliably. In accordance with the Charities SORP (FRS 102), the general volunteer time of the Friends is not recognised and refer to the Trustees’ to the Trustees’ the Trustees’ Trustees’ report for for more information about their contribution.

Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

Income tax recoverable in relation to investment income is recognised at the time the investment income is receivable.

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Administrative costs are allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset's use. Costs of generating funds are costs incurred in attracting voluntary income, and those incurred in trading activities that raise funds. .

Charitable activities and Governance costs are costs incurred on the company's operations, including support costs and costs relating to the governance of the company apportioned to charitable activities.

Page 10

ee

1.7 Debtors

Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

1.8 Cash at Bank and in hand

Cash at bank and in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account. .

1.9 Liabilities and provisions

Liabilities are recognised when there is an obligation at the Balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably. Liabilities are recognised at the amount that the company anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide. Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised within interest payable and similar charges. Financial instruments The company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.

1.10 Financial instruments

1.11 Taxation

The company is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. ' Accordingly, the company is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes. .

ry

oe

Page 11

THE TETBURY MUSIC FESTIVAL

(A company limited by guarantee)

;

.

ic e
LLLOLnnLn,,,,L,TTee		 e
LLLOLnnLn,,,,L,TTee		 e
LLLOLnnLn,,,,L,TTee		 e
LLLOLnnLn,,,,L,TTee		 e
LLLOLnnLn,,,,L,TTee		 e
LLLOLnnLn,,,,L,TTee
NOTESTOTHE FINANCIALSTATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021
1. Accounting policies (continued) :
1.12Fund accounting
General funds are unrestricted funds which are available for use at the discretion of the Trustees in
furtherance of the general objectives of the company and which have not
purposes.		 been designated for other
,
Designated funds comprise unrestricted funds that have been set aside by the Trustees for
particular purposes. The aim and use of each designated fund is set out in the notes to the financial
statements.
Restricted funds are funds which are to be used in accordance with specific restrictions imposed by
donors or which have been raised by the company for particular purposes. The costs of raising and
administering such funds are charged against the specific fund. The aim and use of each restricted
fund is set out in the notes to the financial statements.
Investment income, gainsand losses are allocated to the appropriate fund.
2. Incomefromdonationsand and legacies
. Unrestricted Restricted Total Total
funds funds funds funds
2021 2021 2021 2020
£ £ £ £
Donations 25,500 - 25,500 -
3. Incomefrom charitable activities
.
Unrestricted Restricted Total Total
funds funds funds funds
2021 2021 2021 2020
£ £ £ £
Sale ofwine& programmes 1,083 - 1,083 -
Festival Ticket Sales 24,081 - 24,081 -
GiftAid 3,475 - 3,475 4,390
Dolphins Contributions 17,130 - 17,130 22,439
Other Income 345 - 345 -
Subtotal 46,114 - 46,114 26,829
Otherincome from charitable activities 1 - 1 -
46,115 - 46,115 26,829
Total2020 26,830 - 26,830
a Page12

THE TETBURY MUSIC FESTIVAL

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021

,

4. Investment income
Unrestricted Restricted Total _ Total
funds _
funds		 funds funds
, 2021 2021 2021 2020
£ £ £ £
Investment income 3 - 3 10
Total2020 10 - 10
5. Costs of raising funds
Unrestricted Restricted Total Total
funds funds funds funds
2021 2021 2021 2020
£ £ £ £
’ Administration Costs 3,765 - 3,765 2,685
Total2020 2,685 - 2,685
6. Directcosts .
Charitable Total Total
Activities _ 2021 2020
£ £ £
Artistsfees &expenses
Other Festival Costs
Marketing
Accounts& Examination Fees
Catering & Refreshments
Musiciansfund		 24,370
13,817
4,866
1,455
2,633
-		 24,370
13,817
4,866
1,455
2,633
-		 -
5,124
3,016
1,575
-
10,040
47,141 47,141 19,755
Total2020 19,755 19,755

5. Costs of raising funds

  1. Direct costs

Page 13

"

a

THE TETBURY MUSIC FESTIVAL (A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021

7. Analysis of Expenditure by expenditure type

----- Start of picture text -----
|||||||||| |---|---|---|---|---|---|---|---|---| |,|Other costs|Total|Total| |2021|2021|2020| |£|£|£| ||| |Expenditure on|raising|voluntary|income|3,765|3,765|2,685| |Costs|of|raising|funds|3,765|3,765|2,685| |Charitable|Activities|-|Direct|Costs|47,141|47,141|19,755| |50,906|50,906|22,440| |Total 2020|22,440|22,440| |8.|Net income/(expenditure)| |This|is|stated|after charging:| |.|2021£|2020£| |Independent Examiners|Remuneration|600|575| |Independent|Examiner's|remuneration|-|other services|1,050|7,000| |During the year,|no Trustees|received|any remuneration|(2020|- £NIL).| |During|the year,|no Trustees|received|any benefits|in|kind|(2020|- £NIL).| |During the year,|no Trustees|received|any reimbursement|of expenses|(2020|- £NIL).|,| |9.|Independent|Examiner's|remuneration|:|

----- End of picture text -----

  1. Independent Examiner's remuneration : The Independent Examiner's remuneration amounts to an Independent Examination fee of £ 600 (2020 - £ 575), and accounts fee of £1,050 (2020 - £1,000).

10. Debtors

----- Start of picture text -----
||||| |---|---|---|---| |2021|2020| |£|£| |Other debtors|3,475|-|4,387|

----- End of picture text -----

ee

Page 14

:

a

,

THE TETBURY MUSIC FESTIVAL (A company limited by guarantee)

SS

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021

11. Creditors: Amounts falling due within one year

,

Creditors: Amounts falling due within one yeardue within one yearwithin one yearone yearyear
2021 2020
£ £
Other creditors - 464
Accrualsand deferred income , 10,226 11,861
, 10,226 12,325
£
Dolphin Deferred income
Deferred income at 1 January2021 5,290
Amounts received in the year 15,420
Amounts released totheSOFAduring theyear (17,130)
Deferredincomeat31December2021 3,580

Deferred income carried forward is in relation to Dolphin donations received in 2021 that relate to 2022, and a Sponsorship from Ashendene Trust which was received in 2021 that relates to 2022

----- Start of picture text -----
12. Statement of funds .
Statement of funds - current year
; Balance at
Balance at 31
1 January December
2021 Income Expenditure 2021
£ £ £ £
Unrestricted funds .
General Funds- all funds 27,838 71,618 (50,906) 48,550
Restricted funds ;
Music in Local Schools 400 - - 400
Total of funds 28,238 71,618 (50,906) 48,950
Statement of funds - prior year
Balance at
Balance at 31
1 January December
2020 Income Expenditure 2020
£ £ £ £
General Funds -allfunds 23,439 21,205 (16,806) 27,838
eC — — eee
Page 15
----- End of picture text -----

THE TETBURY MUSIC FESTIVAL (A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021

12. Statement of funds (continued)

----- Start of picture text -----
Restricted funds
Music in Local Schools 400 - - 400
Musician's fund - 5,634 (5,634) -
: 400 5,634 (5,634) - 400
Summary of funds - current year
Balance at
Balance at 31
1 January December
2021 Income Expenditure 2021
£ £ £ £
General funds 27,838 71,618 _ (50,906) 48,550
Restricted funds 400 - - 400
28,238 71,618 (50,906) 48,950
Summary of funds - prior year
Balance ai
Balance at 31
: 7 January December
2020 Income Expenditure 2020
£ £ £ £
‘ General funds
.
Restricted 23,439 - 21,205 (16,806) 27,838
funds 400 5,634 (5,634) 400
23,839 26,839 (22,440) 28,238
----- End of picture text -----

Page 16

is

THE TETBURY MUSIC FESTIVAL (A company limited by guarantee)

a , NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED:31 DECEMBER 2021

13. Analysis of net assets between funds

Analysis of net assets between funds - current year

: Unrestricted Restricted Total
funds funds funds
2021 2021 2021
£ £ £
Currentassets 58,776 400 59,176
Creditors duewithin oneyear (10,226) - (10,226)
48,550 400 48,950
Analysis of netassets between funds- prioryear :
Unrestricted Restricted Total
funds funds funds
2020 2020 2020
£ £ £
Currentassets 40,163 400 40,563
Creditors duewithinone oneyear (12,325) -— (12,325)
. 27,838 400 28,238

14. Related party transactions

A number of Trustees and their close family members are also members of the Dolphin Membership ’ Scheme and pay membership subscriptions. These subscriptions, and for 2021 donations, amounted to £1,375 (2020 - £3,379) in the year ended 31 December 2021.

|

Page 17