REGISTERED COMPANY NUMBER.. I)4833113 (England and Wales REGISTERED CHARITY NUMBER: 1099203 REPORT OF THE TRUSTEES AND UNAUDITED FIIIANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 FOR THE TBuRy MUSIC FESTIVAL Randall & Pae LLP Chartered Accountants Chargrove House Shurdington Road Cheltenham Gloucesler8hlre GL514GA
THE TEf8URY MUSIC FESTIVAL CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 Page Reference and NMIniStratiVe Detailg Report of tho Trustees 2 to 4 gndent Examinerfs Report statsment of Financi*l Activitiqs Balan Sheet 7 to 8 Notes to the Financiol Statementg g to 15 Detsiled Slatement of Financial Acti¥lties 16
THE TEfBURY MUSIC FESTIVAL REFERENCE AND ADMINISTRATIVE DEfAILS FOR THE YEAR ENDED 31 DECEMBER 2023 TRUSTEES Chrfstopher Cooke James Golob Alexandra Graves Caroline Weller l<nNJht Helen Prlday Christopher Rose REGISTERED OFFICE Park Fami Shiplon Moyme Tetbury Glos GL8 8PR REGISTERED COMPANY NUMBER 04833113 (England and Wales) REGISTERED CHARtrY NUMBER 1099203 INDEPENDENT EXAMINER Randall & Payne LLP Chartered Accountants Chargrove House Shurdington Road Cheltenham Gloucestershire SOUCITORS Tanners SO15t0r8 Lancaster House Thomas Street Cirencesler Gloucestershire GL7 2AX Page 1
THE TETBURY MUSIC FESTIVAL REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2023 The Twslees present their annual repcft together with the financtal statements of the oompany for the 1 January 2023 to 31 Dember 2023. The trustses confimi that the Annual Report and financial statements of the company comply wilh the Current statutory requirements, the requirements of the companl8 goveming Ikicument and the proviston8 of the Statement of Recommended Practice {SORPI, applicable to chaTthes preparing their accounts in accordance with Financial Reporting Starmlard apKlica)le in the UK and Republic of Iretand {FRS1021 leffectrve 1 January 2015) as amended by Update Bullelin 1 {effective 1 January 2015)- Since the rnmpany qualifie3 as small under seclion 383, the strategic rewt required of medium and larue companies under The Companies Act {Strategic Report aThl Directorfs ReF4xt) Regulations 2013 is not required. OBJECTIVES AND ACTivmES Objeclives and octivities The Objects for which the chariiy was estsblished atp ts 'promote. maintain, imrmve advan the ucation of the public in the art aThl sctence of rnusic bythe Fe8entation of publ ¢mrtS 8Th1 lta.. The Tetbury Music Festtval of 2023 consisted of five concerts over fNe day4 23rd SeptemLEr and 28th September- 18t OGtober 2023, fuifiiing the charl1$ obieclives as detsiled abov Publc benafit The Trustees are aware of The Charity Cornmisson's Publc Beffl rules and its guidelnes as to Interpretati of the relevant section of the Charibes Act 2011. They are 8ati8fied thal the objects of the Charity and the actmties ofthe charityare wthin the definitions of Charilable Fl1oSe8 as set down in the Act The Tnjstees are not aware of any public detrimenl caused by the Charitys objects or aGtiwbes. and are they aware of anJr•ne reraviig anyform of prfvate benefft from the Charitys actiwiies. Volunteer8 The Fe81ival inUeS to be the gratefvl benefKiary of the pro bono work of rts Trustees and SUPFkn& ACHIEVEMENT AND PERFORMANCE Review of activilies We again presented programme8 and perfomier8 of the highest artisti¢ standard8. and the Fe3tivafs repulation for excellence has continued to grow. We conllnued to keep ticket pre8 as low as possit4e (from £10 to £351, aMI we again offered free access to children between 8 and 16 when aCCt1pan1ed by an adult. We are proud fhat a significant portK)n of our audience comes from within a radius of 20 miles of TetbLry. but our audience alr4) cSIsts of rnuS lovets from much further thld. Folbwing Ihe sucSS of the Saturday pre-concert lecture slot in preVicS years. we rerated Ihis fonnula thi8 year with a relevant lecture on the aftemoons of of the ncErt$ by hiuhly acckimed indivK1ua18. Both were hebj at the neaY Telbury Goods Shed Art8 Centre and the feedback upI[ft¥a. We are once again grateful to the Rev Veronica Hughes and the Tetbury PCC foi alknmng u8 to U8e St Marys, Church for our COfKrts, for Ythith privilege the Feslbval pays a charge. FINANCIAL REVIEW Principal funding sources The Festival continues to be the grateful beneffdary of the pro bono woth of its Trustees arKI supp(xters. The FrrlS of the Tetbjry Mu8lc Fe8tival - the 'Dolphin' _ are collectivdy indivKlually very important donorn aml supportW8. Thelr number& and thus their finanaal 8UPPOrt, ojntinues to grow each sear wrth the number of $ubscriLxng Dolphins having reached a record 182 in 2023 lup from 171 in 2022). Sir Mattin and Lady Smith in parbcular continue to contribute in a meaningful way by makyo their home available to the Festival when suth a venue 18 needed and their 1MpanYing hospitality urthubtethy to the benefrt of the cha17ty and Its objedves. Page 2
THE TETBURY MUSIC FESTIVAL REPORT OF THE TRUSTEES FOR THE YEPR ENDED 31 DECEMBER 2023 FINANCIAL REVIEW Reservas policy Taking into COndemI)n the restrict)n5 inposed by Covid in rent years, whith showed Ihe uncertalnty of what may happen at any grven time. oomrM)unded by the current ¢x)st of liwng crisis, the Festival deems It prudent to maintain reserves al a level at which the Trustees consider tt wauld be to withstand a reduction in income for these or any other factor6 that may cause the Festival to not go ahead C a material drop Wb ti(et sales. A base level of £30,tm of unrestricted funds is considered by the truthes to a minimun jerrt reserve to have in the bank at any Candar year end. Tse reserves, whith we review on an ongoiw basi5. enable the Festival lo have the ffidence to embark on projects which, vknile a1varlng Ihe standing of the Festival and malntaining tt5 artistic integrtty, may carry a degree of financial risk. At the end of 2023 reserves stood usefully above that £30,000 base level number. A6 at 31 December 2023, reserves cons181ed of £89,789 {2022.' 67.4981 general, unrestricted a1 designated reserves and £4Ch) of restricted reserves in relation to the Music In Loral School8 fund. These ate held lo enable the conlinued wtions ofthe charity. Going concern After makiw approprlate erjqulrfes. the Twstees have a reasonable expeCtatIL that the c(Knpany has adequate resourc8 to contnue in operatn existsnce for the fcyeseeable future. For this reason they continue to adopt the going concern ba8B in preparing the financial statements. Further detsib regardl the adoption of the going rx)ncem basis be found in the Accounting Policies. FUTURE PLANS The chartywill continue to operate in Ine historic operatb?n5, With the Tetbury Festival programme 2024 alreaoy avaiLqble and featuring 5 cx)ncerts betsveen 28 September and 6 Octob. srRUCTURE. GOVERNANCE AND MANAGEMENT Governing document The charity is controlled by it8 wveming dorAJment, a deed of tll( 8fKI constttute8 a Ilmited company, Iunited by gu8r8ntee, a8 deflned by the Companle8 Act 2006. Charity constitulion The company is registsred as a charrtable company limited by guararrtee aNI was set up by a Memorandum of Assoiiaiion on 10 July 21J03. The company is also a registered chartty under the number 1099203. The pthipal d)ject d the o)mpany ore to promote, malntain, improve and advano the ethCa1 of the publ in the art and slaen of muwc by the presentation of public concerts and re(¥tals. Recruitment and appolntment of new trustgos The magement of the company is the respjnsibility of Tnjstees 0 are elected and cwted Lnder the terms of the Artths ofA8sociatK)n. The Tetbury Music Festival is govemed by a Board of Twstees. there were six TnJ8tee8 during 2023. There is no time l¥nil on the number of year8 a Tnjstee may serve. Organlsational SInlUTe The management team incbjded Or81 Toryak, a part-time Fe8tival Administrator vtho attends Bo2 meetibYJ8 but 18 not a member of the Board. The Festival employs a Concerts Manager. Nithojas Ullmann. duri the Feslival. the Pjtistic Director, Jonathan Cohen, receives an honornrium. Risk management The ttee5 have a duty to identify and review the rlsks to 1¢h the thaiity 18 exp)wl and to ensure aF¢)rwiate contro18 are in place to provlde reasonable assurance against frdud and error. The B08rd of k8 responsible for the management of the risks faced by the charity. In the Opin of the Ttees. however, there are no rnalor risks to vthich the Charty is exposed, and continued re81KsJ administration will ensure that there is no bu&Jet deficit. proved by order of the board of tTUStee8 on ......... . and slgned on its beha by. Page 3
THE TEfBURY MUSIC FESTIVAL REPORT OF THE TRUSTEES FOR THE YEAR END DECEMBER 2023 Christopher R¢)se- Twstee Page 4
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE TETBURY MUSIC FESTIVAL Independent examinerfs rgport to the trustees of The Tetbury Music Festival (Yhe Company'l I report to the chaTity trustees on my examination of the accounts of the Company for the year endj . 31 December 2023. Responsibilities and basis of report As the chanty's trustees of the Company land also its directors for the purposes of company law} you are responsible fr)r the preparallon of the aceounls in accordance with the requirements of the Companies. Act 20061 the 2(J)6 Act'i. Hawng 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, I report in respect of my examination of your charitys accounts as carried out under Section 145 of the Charities Act 2011 I'the 2011 AGV). In carrying out my examination I have followed the Directions given by the Charty Commission under Section 14515) Ib) of the 2011 Act. Independent examlnerf8 8tatement I have completed my examinats'on. I confinn that no matters hawcome_to_my.attention_irLconnection_with.-th&- examination giving me cause lo beIve.. accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act", or the accounts do not accord wth those records,. or the accounts do not comply with the accounting requirements of Section 396 of the 20C6 Act other than any requirement that the accounts give a true and falr view which is not a matter considered as part of an independent examination-, or the a¢¢ounts have not been prepared in aG¢ordan¢e with the methods and principles of the Statement of Recommended Practsce for a¢¢ounting and reporting by charitw {applicable to Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republio of Ireland IFRS 102)). I have no concems and have come across no other matters in ¢onnection wth the examination to whKh attents'on should drawn in this report in order to enable a proper understanding of the accounts to be reached.. --- C&irr Nlcola Cairns FCCA. Randall & Payne LLP Chartered Accountants. Chargrove House Shurdington Road Cheltenham Glouceslershire GL514GA 3 June 2024 Page 5
THE TEfBURY MUSIC FESTIVAL srATEMEMT OF FINANCIAL ACTivrriES FOR THE YEAR ENDED 31 DECEMBER2023 2023 Total fund8 2022 Totsl fund5 untrd Restricted funds funds Nots8 INCOME AND ENDOWMENTS FROM Donations and legaaes 31.295 31,295 34,535 Charitable activities Tetbury Music Festival 53,057 53,057 49.604 Investsnent hme 582 19 Total 84.934 84.934 84,158 EXPENDThURE ON Raising funds 7.208 7,208 Charitable aclivities Tetbury Music Festival 60,435 60,435 57,987 Total 67.643 67,643 65,210 NEf INCOME 17,291 17,291 18,948 RECONCILIATION OF FUNDS Totd fu15 brought forward 67,498 67,898 48,950 TOTAL FUNDS-CARRIED-FORWARD-- -84.-789- 400 -85,-189 . 67-,898 The note8 fomi part ofthe5e fmancial ststements Page 6
THE TEfBURY MUSIC FESTIVAL BALANCE SHEET 31 DECEMBER 2023 2023 Total funds 2022 Total funds Unrestricted Re8tr1cted funds funds Nots8 CURRENT ASSETS 5.879 89,621 5.879 90,021 3,983 73,720 Cash at bank 95,500 95.900 77,703 CREDffORS Amounts falllng wilhin year -{10.711)- {10.711) (9.805) NEf CURRENT ASSErs 84,789 85,189 67,898 TOTAL $SErs LESS CURREP UABILrnES 84,789 85.189 67.898 NEf ASSErs 84,789 85,189 67.898 FUNDS Unrestrthd funds Restrthd fvnds 84.789 67,498 400 TOTAL FUNDS 85.189 67,898 The charitable ccxnpany is entilled to exemptknn from audit under Section 471 of the Companles Ad 2006 fcf the year 31 Decernber 2023. The members have not required the ccnpany to obtain an audit of fts financial statements for the year ended 31 December 2023 in aOrdan Secfion 476 ofthe Companies Ad 2006. The trustees acknowldge their responsftjilities for {al ensuring that the chaiitatrAe company keeps ac¢ounliro rertIS that comply with Secllons 386 and 387 ofthe Compani&8 Act 2006 and (bl Ffeparing financia] statemenis which give a ttue and fair vtew of the state of affairs of the chiiablp company as at the end of each financial year and of surplus or deficit for each financol year accordan with the requirements of Sections 394 and 395 and which otherwi8e Comp wilh the requirements of the Companies Act 2006 relating to financial statemenls, so far as applrAble to t dritable c(PanY. The notes frJM part of these fmancial statements Page 7 contniued...
THE TEfBURY MUSIC FESTIVAL BALANCE SHEEf- conlinued 31 DECEMBER 2023 These financEal staternents have been prepared in accordance wrth the pwvi5ions applcable to tharitalAe c¥Jmpanies subject to the small companies regime. The flnancial statements were approved by the Board of TNstee8 and aUthOred for wue on . and were slgned on118 behalf by.. Christopher Rose - Trustee exandra Gr8ves- Trustee The notss form part ofthe6e financial statements Page8
THE TETBURY MUSIC FESTIVAL NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 ACCOUNTINQ POLICIES Basis of preparing Ihe financial statements The fanCIal statements have been prepared in accordan VAlh AcLX)untirrd and Reporthg by Charities: Statement of Recommemled Praclice appIable to charttie5 preparing thelr a(Unts In aCrdan wrth the Financ4al Repordng Standard applicable li the UK Republ of Ireland (FRS 102) (effectpie 1 January 20151- (Charit5 SORP (FRS 102)). the Financkql Reporting starard aN)Irable in UK and Republr of Ireland (FRS 102) and the Companle8 Act 21)06. The Tettxrry Music FestNal meets the defmiiion of a publ benefrt entity under FRS 102. Assets and iltts8s are initsaHy recognised at historical c05t or tsansacticfi value unless othepmse stated in the relevant ac¢ountirYJ polKy. Company status The company 18 a privaiB company limrted by guarantee incorrwjrated vAthin EngLiTrJ & Wales. The ccxnpaWs registered address arml Trustees {arKI dSrector& for puip)ses of Company Law) are detailed on the RefererKe and hlmini%trative page. In the event of the MPanY being wound up. the liabilty in respect of the guarantee ts Itmlted to £1 per member of the company. The charitls operation5 and the prfnc4)al of the company is to provide musKal ¢oncets and recitals to Mernbs of the wb1. Income l income 18 re&)gnised in the Statement of Financtal Actwtts&8 On¢ the charity has entrttement to the fuThls, it i8 probable that the income wil be received and the amount be measured reltably. For legacqes, entitlement ta(en as the earfier dale on which efther. the rnPany is avrdre that proLts ha5 been granted, the estate has been finalised and notification has been made by the eXutOrIs) to the Trust that a distiibution wll be made, or %then a dk%tribution is received from the estate. Receipt of a legacy, in whole or in part, is only considered probable en the amount can be measured reliabty and the company has been notified of the exeGulor8 intenbon to make a di%tribulion. Where legacies have been rK)lified to the company. or the company is aware of the granling of probate, and the criteria for income re¢ognrtion have not been meL the legacy Is treated as a ngent asset and disck>6ed tF materk41. t)cmated SeICeS or facilitÉes are recognised when the MpanY has e4Jntrol over the item, any 1XdillOnS associated wilh Ihe donated item have been met, the receipt of economtc benefit frorn the Use of the o)mpany of the item Is probable and that economic benefft can be measured reliably. In accordan with the Charities SORP {FRS 1021, the general volunteer time of the FrierK18 is not recognised and refer to the Trustees. rewrt for more tnf0nTtat about their conlTibLrtion. On relPt, donated professional seiCeS and donated facilities are reciyJnised on basis of the value of the gift to the company whkh 18 the amount the company would have been wiNing to pay to cl)lain services or facilties (rf equivalent economic Ixnefrt on the cyen mthet a cOesn[sng amount Ihen recognised in expenditure in the period of receipt. Irrterest on fund5 hekl on deposit is Ind]ed when rE[Vable and the amount c4n be measured refb]Y bythe company; thi5 is normalty upon nolrhcation of interest paid payable bythe bk. Income tsx recoverable In relation to donation8 tEcelved under Glft Ald or deeds of c0vent 18 reojgnised at the time of dOrwIn. Inme tax recoverable in relation to invesknent income Is recognis&J at the fjme the investment income is r1vaL*. Page 9 contnued...
THE TETBURY MUSIC FESTIVAL NOTES TO THE FINANCIAL STATEMENTS - contlntsed FOR THE YEAR ENDED 31 DECEMBER 2023 ACCOUTrUING POLICIES- nIInued Expenditure Expenditure is recognised once there is a legal or ciJnstruLaive obbgation to transfer e(x)nomic benefit to a third paty. it is probable that a Irdn5feT of enoMIC beneffts will be required in 5etllement the amount of the obligation can be measured reliably. Expenditure És classrfied by actmty. The o)sts of each activlty aTB made up of the totsl of direcl costs and shared costs. in¢Iling support costs invdved Sn undertakiw each activity. Direct Costs 8ttribulable to a single activity are allocated directty to that activity. Shared costs whh (x)ntribute to more than one activity and support cosis which are not attributable to a single actmty are a[ptioned been those activities on a basis ¢onsistent with the use of resources. Administrative costs are alocated on the basis of t8 spent, and depcIall0n ¢tharges alk)cated on the rM)rtion of Ihe assefs use. Support Costs are th08e costs incurred direcdy in support of eypeN1ire on the objects ofthe 0(XnY and indude project management (arrie(l out at Headquarter8. Costs of weralwmj funth are (y)6ts incurred in atlracling v0[thry income, and those inCued in trading athites that rae funds. Charitable activities and Governan costs a costs Incurred on the companWs operation8, Includlng supp)rt costs and costs relatiry to the governan of the company apw)rtioned to tharitJle actP4ibes. Taxatitin The c(Mnpany Is 4X¢nsklered to pass the tests set out In Pagraph 1 Schedule 6 of the Fft)ance Act 2010 and therefore it meets the definitK•n of a thantable company for UK Corw)ration Tax purwses. Ac¢oTdngty, the rxjrnpany is potentialy exempt from tsxaion in respect of income or Capital gain8 received within ctegNies covered by Chapter 3 Part 11 of the Corp)ration Tax Ac 2010 or Section 256 of the Taxalx)n of Chargeable Galn8 Act 1992. to the extent that such inrAJne or goins are awAig exdusivety Ic tharttable purposes. Fund 8ccounting . General futvjs aMrestriCIed.fund&IcILareava11&bje_for..uWat theJBcretionffjf.the.IrLteSi _ furtheran of the general objectives of the company and which have not been designated other purposes. Designated fund8 comprise UnreStrd funds that have been sel aside by the Twstees for partiJ1aT purposes. The aim and use of each designated fund 18 8et (xrt in the notes to the financial ststements. Restiicted funds are fij18 whith are to be used in accordance llth specific reStrlIanS imrx)sed by donors or which have been raised by the company for particular purposes. The costs of raising and administering such finds are charged against the speclfic fund. The aim aTrJ use of each restrkted fund is 8et out in the notes to the financpl statements. Investrnent income. gal and losses are alkicaled to the appropriate fund. Additional policies Going COnrn Ther? are no material uncertainties that may cast signrficant doubt on the Chartys ability to contlnue as a going conoem. The trustees are of the opinion that reserves remain suffKient forthe obieotrrfe8 of the Charity to be achieved in the next 12 months. TJe and other debtor8 are recogni8ed at the settiernent amount after any trade disont offered. Prepayments are valued at the amount wepaid net of any trade dtscounts due. Cash at bank and in hand Cash at bank and in hand irtludes cash and short temi highly lliuid investments vAth & sknrt malurlty ofthree months or sS frC the date of aUl$ition or openiig of the deposrt or slmlar accounL Liabilitie5 and provisions Page 10
THE TEfBURY MUSIC FESTIVAL NOTES TO THE FINAMCIAL STATEMENTS- continugd FOR THE YEAR ENDED 31 DECEMBER2023 AccouKnNG POUCIES- continuod Additional pollcies Liabilrbe5 are recogni8ed when there is an obrallOn at the Balan sheet date 85 a result rrf 8 past event rt is PrObae that a b7nsfer of ecorthiic benefft will be required in 8ettlement, and the amow of the settkment can be estimated reliably. Liablities are reoognised at the amount that the c(ympany antripates it will pay to Sett the debt L¥ the amount it has received as advanced pajinents for the go¢xJ or 8eNices f( must provide. Provisions are measured at the best estimate of the amounts tequired to settle the obligalKJn. Where the effect of the lime vae of money is material, the provision is based on the pre8enl value of those am(xJnts, discounted at the pre-tax d[8cunt rate that relle¢ts the iisks specific to the Ilablllty. The unwinding of the diSU is recognised 1lhin interest payable and similar charges. Financial in5tThfflents The o)mpany only ha8 financial assets and financial IHbiltEs of a kirKI that qualrfy a5 bath financial instruments. Basic financial instruments e initsally renised at transaction value and 5ubsequenty measured at their setmement value %lh the exception of bank k)ans which are subsequently measured at amortised cost Using the effective interest melh¢XI. DONATIONS AMD LEGACIES 2023 2022 Donalions Gift aKI 25.416 5,879 30.552 3,983 31,295 34.535 INVESThIENT INCOME 2023 2022 Dep08it account interest. . 582 19 RAISING FUNDS Investm managgmont ¢osts 2023 2022 Administrntwe expenses 7.208 TRUSTEES. REMUNERATION AND BENEFITS There were np Ines' remuneral*Jn or olher berrts for the year ended 31 Declber 2023 nor for the year erbjed 31 December 2022. Trustees. expenses There we trtee6, expenses paid for the year eTrJed 31 December 2023 rr for the ypar ended 31 December 2022. Page11 c(lInu...
THE TET8URY MUSIC FESTIVAL NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 DECEMBER 20r3 COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACnVITIES Unrestiicted Restricted funds funds Total funds INCOME AND ENDOWMENTS FROM DOnatS and legaeS 34,535 34.535 Charilable activfties Tetbury Music Festival 49.604 Investment inu)me 19 19 T¢)tal 84,158 84.158 ExPENDuRE0N Raising funds 7223 Charitablo activities Tetbury Music Festival 5T.987 57,987 Total 65.210 65,210 NET INCOME 18.gA8 18.948 RECONCILIATION OF FUNDS Total fund5 brght forward 48,950 .TOT.AL. FUNDS GARRIED.FORWARD . -67.,496 DEBTORS: WAOUNT8 FALLING DUE WITHIN ONE YEAR 2023 2022 Other debtor8 5.879 3,983 CREDrroRS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2023 2022 Paents account Other credftors Accruals arKI deferred income 1,180 2.955 203 6.647 9.531 10,711 9,805 Page 12 c(tinUed...
THE TEfBURY MUSIC FESTIVAL NOTES TO THE FINANCIAL STATEMENTS - c¢)ntlnued FOR THE YEAR ENDED 31 DECEMBER 2023 MOVEMENT IN FUNDS Net movement in funds At 111r23 31112123 Unrestricted fund8 General fund David Thomas Trust 47,498 20,000 27,291 {10,C(JOI 74,789 10.000 67,498 17,291 84,789 Restricted funds Music in k)c*l schools TOTAL FUNDS 67,898 17,291 85,189 Net movement n funds, included in Ihe above are as folows: Incoming resources Resources Movement endl in funds Unrestricted fund5 Gerwal fvnd Davtd TIK)ma5 TTu5t (57,6431 (lo,0) 27,291 <10,0001 (67.643) 17,291 TOTAL FUNDS 167.643) 17,291 Comparaliveg for movement in funds Net movement in funds At 31112122 At 111r22 UnYe51rr¢ted funds General fund t)avMI Tlx)mas Trust 48,550 11,052) 20,000 47,498 20,000 18.948 67.498 Restricted funds Music in k)cal schools TOTAL FUNDS 18,948 67,898 Page 13 continued...
THE TEfBURY MUSIC FESTIVAL NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 DECEMBER 2023 MOVEMENT IN FUNDS- continued Comparalive net movement in fu18, included in the above are as follows: Incomlng r&sources Resources VeMent expended in fund8 UnT8stricted funds General fund Davkl TIK)ma8 Trust 64,158 20,000 {65,210) (1,0521 20.000 84,158 {65,210) 18.948 TOTAL FUNDS 84,158 {65,210) 18.948 A ojrrent year 12 rnonths ar¥J prior year 12 months wmbined position is a8 folbm: Net movement In funds At 3111W23 At 111122 Unrestricted funds General fund Da1 Thomas Tru8t 26,239 10.000 74,789 10,000 36.239 84,789 Restricted funds Music in k)cal schc4)18 400 400 -. TOT.AL.F.UNDS_---. -48,950 A cwrent year 12 monlhs and pr year 12 mc)th8 MbInetI net movement in funth. Iluded in the ve are a8 folhm: Incoming ReSrCeS Ikjvement resources eXnded infvnds UnrestTiCted funds General fund David Thcna8 Trt 149,092 20,000 (122.8S3) (10,0001 26,239 10.000 169,092 (132,8531 36.239 TOTAL FUNDS 169,092 (132,8531 36,239 Page 14 continued...
THE TEfBURY MUSIC FESTIVAL NOTES TO THE FINANCIAL STATEMEMTS - continued FOR THE YEAR ENDED 31 DECEMBER 2023 10. RELATED PARTY DISCLOSURES A number of Twstees and their ckjse family members are also members of the Dolphln Membership Scheme and pay the relevant membership subscriptions. These sUbsul)tlcs. and for 2023 donations, amount to £1,37512022- £1,625) in the year ended 31 December 2023. Jaffles Golob also Mle a one-off donaknn to the dJariEy of £4.000 duiing the year {2022- nil) There were reimbursed eXnSeS to Chaimian, Christopher Rose, of £282 in the year which related to festival expandi {2022- £5121. There werB no outstandlng balance8 wSth lated partle8 at 31 Dember 2023. Page 15
THE TEfBURY MUSIC FESTIVAL DETAILED STATEMEKf OF FINANCIAL ACTivrriES FOR THE YEAR ENDED 31 DECEMBER 2023 2023 2022 INCOME AND ENDOWMENTS tk)natiorts and legacies t)onations Gift aid 25,416 5.879 30,552 3,983 31,295 34,535 Investment income Deposit account interest 582 19 Charilable acliviti95 Feslival licket sale5 Sale of wine and rKcgrammes Grants sponsorship other income 33,872 4,749 14,300 136 27.216 3.614 18,755 19 53,057 49.604 Total Incorning resources 84.934 84,158 EXPENDuRE Investment management costs Admknistr8tive expense8 7,208 7,223 Chaiilable activitles Artist fees and expenses atering and refreshmenL_ . Other festival expense8 Marketing Exinat)n fees 32,446 -J,2S1_ 14,325 8,679 1,734 31,27T ,238 14,306 7,516 1.650 60,435 57.987 67,643 65.210 Net in¢ome 17,291 18,948 This page doe8 not form part ofthe statytory finanGial ststements Page 16