REGISTERED COMPATrff NUMBER: 04833113 (England and Wales)
REGISTERED CHARITY NUMBER: 1099203
REPORT OF THE TRUSTEES AND
UNAUDITÉD FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
FOR
THE TEfBURY MUSIC FESTNA
Randall & Pa￿8 LLP
Chartered Accountants
Chargrove House
Shurdington Road
Cheltenham
Glouceslershlre
GL514GA

THE TEfBURY MUSIC FESTIVAL
CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
Paga
Reference and Admlnigtrativg Dotall$
Report of tho Truste
2 to 4
Indgpgndent Examlnefs Report
Statoment of Flnancial AGdvltlg8
Balance Sheet
7 to 8
Notès to tho Flnanclal Statemonts
9 to 14
Detalled Statement of Flnanclal Actlvltles
15

THE TEfBURY MUSIC FESTIVAL
REFERENCE AND ADMINISTRAnVE DETAILS
FOR THE YEAR ENDED 31 DECEMBER 2024
TRU8TEE8
C C&*e (resigned 1111(hQ024)
J Gokts
A Graves
C W*r ￿¥g
C Rose
G A Wheeler£8m)K*￿l {appOIn￿ 16/￿024}
REGISTERED OFFICE
P*k Fami
shIpt￿
Tell)ury
Glos
GL8 8PR
REGISTERED COMPANY
NUMBER
04833113 (Eryland and Wales)
REGISTERED CHARrrY
NUMBER
1099203
INDEPENDEKf EXAMINER R￿all & Payme LLP
Charwove House
Shurdington Road
GL514GA
SOUCTfoRS
Tannérs Solths
Cirencester
GIoLKestershw8
GL7 2AX

THE TETBURY MUSIC FESTIVAL
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 DECEMBER 2024
The Tru8leès present thgir annual report togethar with financFal statements of the Company for the 1
January 2024 to 31 December 2024. The Iruslees confim that the Annual Report and financlal slalements of
the wmpany comply Nwth Iha current ststutory requirements, the requirements of the comp8nYs govemlng
documanl ond the provision8 of the Slatemonl of Reccfflmended Pra¢ti¢g {SORPI, app1￿&ble to charf(ie8
preparing their a￿UnIS tn accordance wlth Financial Reportlng Standard 8ppliGable in the UK and Republic
of Ireland {FRS102) (eff￿lIve 1 January 2015) as amended by Update Bullelln 1 {effe¢live 1 January 2015).
Slnc• the company qualrfies as 8mall under 8ecllon 383, the strategic report ￿quIred of medium and large
companies under The Companles Act 2006 {Strateglc Report and Dlrectorfs Report) Rggulalions 2013 is not
requlr¢d.
OBJECTIVES AND ACTIVITIE8
ObJ•ctl¥es and actlvltlo8
Thè Objects for which the charty wa8 88tabliBhed are to 'promote, maintain, improve and advance the
edu¢atlon of the publlc In the art and sc18n￿ of mu8lc by the pre8ent8tlon of publk concart8 and recltal8.'
The T8lbury Music Festival of 2024 consL8ted of fNe concerts over ffva day8, 28th September and 3rd - 6th
October 2024, fulfilling tho chartys otyedSves as detailed abova.
Publlc ho￿fle
The Tru8tee8 ara aware of The Charfty Comml681on'J Public Benafft Nle8 and 118 guiddlnes as lo
Inl¢rpr&tstion of the ￿levant Sectlon of the Charities AGI 2011. They ar6 satisfled that the oble¢ts of the
Charty and thg aclivllle8 of the charty ar& wllhln the definltlons of Charitablè Purpose8 aB Set down In tho ACL
The TnMle88 are not aware of #ny publtc d¢lrlment caused by tho Charitys objects or activities. and nor aro
they thvaro of anyone recehing any fomi of pr￿￿te benefft from the Charty8 actIV￿les.
Volunte•rn
The Fesllval conl5nue8 lo b• th• gral&ful btneficlary oltho pro bono work of h TnJ8teas ond •upport•rn.
ACHIEVEMENT AND PERFORMANCE
R8vl•w of aGtlvltles
We agaln pr¢8enled programmes and perfomier8 01 the hlghest artislk 8tandard8, and the Fesllval's
reputation lor excellgnce has ¢ontinued to grow. We contlnugd to keep Il¢ket prices a8 b)w aB posslbla (from
£10 to £401 atthough f¢x the flrsl time In over ton years, ordfjr to keep up with the r181ng costs wlh whlch we
are faced. we Increased our ticket prlce8 on dl seats apart from tha188st expensivo £10 one8. Onco aqaln
we offered Ire8 a¢ce¥8 to chlldrgn be￿￿on 8 and 16 whan accompanled by an adult. We rem&n proud that a
sIgn￿¢an1 portlon of our aUd￿nCe com88 from withln a radlu$ of 20 mlles of Tetbury, bul our oudience a180
conBl8t6 01 music loverB from much further afleld.
Foll¢Jwlng the succe88 of th8 Saturday prfrconcert lecture slot In p￿ou$ yearyJ. we repeated thi$ fomula this
year wllh 8 relevant le¢lurg on the aftemoons of two of tho ¢oncert8 by highly acclalmed indivldual8.
were held at tho nearby Tetbury Good8 shed Art8 Contre and the feedback wa8 upllftlng,
We am once agaln grateful to the Rev Pauline setterf￿ld and the Tolbury PCC lor all¢Mlng u8 to u86 Sl
Mary8. Church for our ¢1￿Cert&, for whlch prfvilege the Fe8tlval pays a chorg6.
FINANCIAL REVIEW
Prfnclpal fundlng sources
The Friends of thè Tetbury Festival - the 'Dolphins' _ are colleclivety and individually very iMport￿t
donors and supporters. TheSr number8. and thus Ihelr financial support, continue$ to grow each ￿ar Y￿th the
number of ¥ubscriblng Dolphln8 having reached a record 200 in 2024 (up from 182 In 2023). Sir Mortin and
Lady Smith In Part￿ular continue to contribute in a mganlngful way by making thelr home available lo the
Festival when such a venue Is needed and thgir accompanwn9 hospilaltty18 undoubledty lo the bgneflt of the
harity and Its oWecti¥eB,
Page 2

THE TETBURY MUSIC FESTIVAL
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 DECEM8ER 2024
FINANCIAL REVIEW
Reserves policy
Taknig Into eonsideration the restrtctions imposed by Covid in recent years. whlch sh¢Jwed the uncertainty
what may happen at any given lime, compounded by thè current C05t of living crisis. the Fe81Nal deems (t
prudent to malnlain reservé$ at a18vel al which the Trustees ¢onsider it would be sufficient lo vAth8tsnd a
reduction in income for these or any other faGiors that may cause the Festival lo not go ohgad or a material
drop in ticket sales. A base level of £40.000 of unre$lricted funds is considered by the trustees to be a
minimum prudent reserve to have In the bank at any calendar year erKI. These rwaerves. which we rewew on
an ongoing basis, 8nabl8 the Festival to have the confidence to embark on projects which, whik? advancing
the standing of the Festival and maintaining its artistic integrty, may carry a degra• of financial risk. Al the
erKI of 2024 our ￿serveS stood useftjlly above that £40.000 ba8e level number.
As at 31 December 2024, reserves conslsted of £98,878 (2023.. 84,789) genert unrestricted and designated
re8ep4es. These are held to enable the continued operatksns of the charty.
Golng concern
After making appropriate enquiries, the Trustegs Iwo a reasonable expectation that the company has
adequ*e resources to continue in operatton exist•n¢g for the foreseeable future. For thi$ reason thoy
ontinue to ad¢)pl the going concern basi5 in preparing the finan¢io1 statements. Further details regarding the
adoption of the g)ing Con￿ ba818 bo found in the Accounting PolrGw.
FUTURE PLANS
The charity ¥￿11 continue to operate in line with historic operations, with the 2025 Tetbury Music Fasllval
programme already avallab￿ and featuring 5 concert5 betsveen 27th September and 5th octo￿r.
STRUCTUR£ GOVERNANCE AND MANAGEMENT
Govemlng document
The charity is controlled by rt8 govemlng document, a deed of trust, arKI con¥titutes a limited Cixnpary. limited
by guarantee, 88 defined by the Companies Act 2006.
Charfty constltution
The company is registered as a ¢haritable company limked by guarantee and was set up by a Memorandum
of A880ciation on 10 July 2003. The company is also a registered charty under the number 1099203.
The principal object of the company are to promote, malntain. umprove and advance the education of the
public in the art and science of music by the P￿entalkIn of publlc concerts and recitals.
Recrultment and appointment of new trustws
The management of the company is the responsibl￿ty of the Trustees who 8ra elected arrfl c(wted under the
teTm$ of the Aitths ofAssociation.
The Tetbury Muslc Festival is govemed by a Board of Trustees; there were seven TNst•es during 2024. This
was a year in which Goorge Wheeler4amiichael was appointed as a new trustee, ￿th his appointment
formalised at the 2024 AGM on 16th May. 11 was also a year wthen Chri5 Cooke stepped duwn 89 Trustee.
There 18 no time l¥nit on the number of years a Trustee may sefv
Organi$ational structure
The management team induded Orsi Toiiak. a part4ime Festival Administrator. Th8 F8stival employs
Concerts Manager, Nicholas Ulbnann. durlng the Festival., th8 ArtisliG DireGtor. jor￿than Cohen, receives an
Rlsk management
The trustees have a duty to identify and revlew the rtsks to which the charity is exposed and to ensu
appropriate contro15 are in place to provide reasonabl8 assurarKè agalnst fraud and error.
The Board of TnJ8tees is resp)nsibl8 for the rn?nagement of the risks faced by the charity. In the oplnion of
the Trustees, however, there are no major risks to whlch the Charity k5 exposed, and ¢ontlnued re3ponsiblg
admtnistralion will ensure that there 1$ no budget defKiL
Page 3

THE TEf8URY MUSIC FESTIVAL
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 DECEMBER 2024
Approved by order of the board of tru8tses ¢)n ......
131512£12S...............
and signed on its behalf ty.
C R08e- Trustee
Page 4

INDEPENDEKf EXAMINERE REPO1￿ TO THE TRUSTEES OF
THE TETBURY MUSIC FESTIVAL
Independent exafflinerfs report tr• th• Intst•*s of The T￿b￿ry Musk Fesdval IYh• Compan
I report lo the ¢*arty trustees on my e￿minat￿)n ￿ the act(￿nts of th8 Company for the erthd
31 December 2024.
R8spoTrslbllitles and bas18 of report
As the charitys trustees of the Crynpany (and a180118 dlradrys for the purposes of cc*npary you are
responslble for the preparation of th6 accounts in acc(￿d￿ with the ToquireThnt&of C¢Jmpanie5 Act
2006 2006 Att).
H￿ing 8ati$f*d mysew th* the acc(yJnts of c¢)Mp￿Y are not required to be auditéd under Part 16 of the
2006 Act and are elb3￿1¢ for Ind￿nI examinath)n. I report in reSp￿t of my examlnatlon of your charitls
account8 as carriad oul under Sedion 145 of the Charrtms kt 2011 Ilhe 2011 ACV). In ¢aryying ¢xrt my
exwnlnath)n I have folk7*Md th8 Dnctions Iwv8n by the cha￿ CLYnmi88ion ut*lgr Se¢tkn 145(51 (b> of the
2011 A
Ind•p•nd•nt •x•MIn•￿ •t*toment
I have completed my ex8minatlon. l ¢onflrn that no matters hab7 comè to my attént￿ kn ¢onngGlI￿ with the
exwnination gmng me cau881a bell￿..
8ceountlng reccrts r#)t kept kn ￿p￿t of the c￿ •• requ￿￿ by Sectlon 386 of the 2006
the accounts do not aco)rd with those r￿ords. or
the accounts do not compty with tho ace<>untlng requlrements of Section 396 of the 2006 Act other
than any requlrement that the a¢¢ounts give a tru8 and fwr vknv which 18 not a matter considered a8
rt of an independent examlnati¢)n; or
the accounts have nol been prepar&1 In accord￿ ¥Ah thè m8lhth and princlpl•s of the Stalwn•nt
of Rec¢Thmend&J pract￿ for accounting and reporting by charilw IA)plrgble to tharrtl85 preparing
Ir accounts in accordance with tho FinartiAI Standwd ¥ppl￿blO In thg UK and Ropubll¢
ol Ireland {FRS 102)}.
I haw no conwn¥ and ha￿ cA)mo no MItt￿ in eonnth *ith t￿ •xamwthon to 7*thlch
attenllon should ￿ drv•m In report wi ¢xd•r to enable a pr¢w ￿￿orStandIng of the accounts to b
Nmla Calms FCCA, MA4T
Randall & Pwo LLP
Chartered Accountants
Chargrove House
Shurdirwn Road
Chellenham
Gloucestershir
GL514GA
2o.1512QZ.5...........
Page 5

THE TEfBURY MUSIC FESTIVAL
STATEMENT OF FINANCIAL ACTIVITIES
FOR THE YEAR ENDED 31 DECEMBER 2024
2024
Total
funds
2023
Total
funds
UnreslriGted ReslriGted
funds
funds
Not88
INCOhlE AND ENI)OWMENTS FROM
Donatlons and legacles
29,296
29,296
31,295
¢harltabl• acllvllles
Tetbury Mu8lc Fo8Uval
63,815
63,815
53,057
It)ve8tsnent Income
1,208
1,208
$82
Totsl
94.319
94,319
84,934
EXPENDITURE ON
Ralslng funds
1,125
1.125
7.208
Charltablg actlvltles
Telbury Music Festival
79,105
79,SOS
60.435
Tothl
80,230
80,630
67,643
NET INCOMEIIEXPENDITUREI
14,089
(400)
13,689
17,291
RECONCILIATION OF FUNI)3
Total fundj br￿ght lonvard
84,789
400
85,189
67,898
TOTAL FUND8 CARRIED FORWARD
98,878
98,878
85,189
Th8 notes fomi part of these flnanclal slalemer
Paga 6

THE TETBURY MUSIC FESTIVAL
BALANCE SHEET
31 DECEMBER 2024
2024
Total
funds
2023
Totsl
funds
Unrestrfcted Rastricted
funds
fiJrKI8
CURRENT A8SET8
Debtors
Cash at bank
5,528
98,598
5,526
98,596
5,879
90,021
104,122
104,122
95,900
CREDITOR8
Amounts falllng due vAthln one year
{5,244)
(5,244)
(10,711)
NET CURRENT A8SEf8
98,878
98,878
8S,189
TOTAL ASSET8 LESS CURRENT
UABIUTIES
98,878
98,878
85,189
NEf ASSErs
98,878
98.878
85,189
FUND8
Unrestricted fund8
R￿trIct*d furK18
98,878
84,789
400
TOTAL FUND8
98,878
85,189
The charltable company bj enlftlod to exempllon frcffi audlt undor $8ctlon 477 of the C(xnpan188 Act 2006 for
the year ended 31 De¢emb•r 2024.
Tho member8 hav8 not requlr•d the company to ¢blaSn an audrt of M8 finan¢lal 8tatements for the year ended
31 D•¢embor 2024 In accordance ￿th Section 476 ofth8 Companle8 Act 2006.
The tN8ts00 ocknth￿edge thglr r88ponofollllle$ for
{a) on8urlng that Ihe chaTttable company kw8 accounllng records that compty wlth Sectlon6 388 and 387
of the Compenie8 Act 2006 and
(b) preparlng financlal stalemgnts which glve 8 true and falr v¢vw of thg State of affolrs of the charltable
company 88 at the ond of each financlal year ard of Its SU￿luB or d￿CIt for each financlal year In
accordance with tho requlremenl8 Qf Sections 394 and 395 and whl¢h 01￿￿￿188 compty with the
requlrements of the Compani•s Act 2006 relatlng to flnarKlal 8tatomontS, 80 far 86 applkable to tho
charitable compony.
Thg noie8 fomi part ofthose financial 5tatmnl$
Page 7
continued...

THE TETBURY MUSIC FE8TNAL
BALANCE SHEEf- contlnued
31 DECEMBER 2024
companies subject to the smatl ccrfnpanies wim
Thefi
lal stat￿ents ￿ere apwoved by the Board (rf T￿￿ and aUt1MyB￿ br issue on
and *rre spJned on ts behalf by.
C R058- Trus
A Graves. Tnjst

The TETBURY MUSIC FESTIVAL
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
ACCOUNTING POUCIES
Basls of preparlng the financlal statements
The financial statements have been prepared in accordance with Accounting and Reportlng by"
Charities.. Slatement of Recommended Practice applicable to charltlas preparing their accounts in
accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS
102) (effective 1 January 2015) - (Charities SORP {FRS 102)), the Financial Reporting Standard
applicable In the UK and Republtc of Ireland IFRS 102) and the Companies Act 2006.
The Tetbury Music FestNal meets the definltlon of a public benefft entity under FRS 102. Assets and
liabilitles are initially rerngnised at historkal c08t or transaction value unle88 othekwlse stated In th•
relevant accountiNJ policy.
Company Status
The company is a prNats company lynited by guarantee inGoTporated within England & Wales. The
¢ompanl$ registered address and Trustees {aThJ dir8¢tors for Purposes of Company Lav} are detalled
on the Referer¢ce and AdministralNe page.
In the event of the ￿MpanY being wound up, the liab￿ty in respeci of the gwantee is limtted to £1 pgr
member of the compary.
The charitvs operations and the principal actmty of the wmpany is to provid? musical concorts and
recitals to members of the public.
Income
All income is recognised in the Statement of Financtal Actsvitses once the d)arity has entluement to the
funds. it is probable that the income wlll be recelved and the amount can bè measured reliably.
For lggacies, entitlement is tsken as th¢ earfier dale on which either. the company is wware that .
probate has been granted. the estste has been finallsed and notif￿atIOn ha5 been made by the
execulorfsl to the Trust Ihal a distribution wlll be made, ￿ when a dlstribution Is received from the
estate. Receipt of a legacy, in whole or in part is only cons¢dered probable when the amount can be
measured reliably and the company has been notffied of the executors irrtention to make a distribution.
Where legacies have been notffigd to tho company. or the company is aware of the granting of
probate, and the criteria for incomé recognition hav8 not been met, then the legacy 18 treated 88 a
contingent asset and dk￿loSed if material.
Donated services or fa¢llities are recognlsed when the cunpany has control over the item, any
cOnd￿lOnS associated Iwth the donal8d item have been met. the ft¢eipt of economic benefrt from the
use of the company of the item is probable and that econ¢Jnk benefit can be meagured reliably. In
accordance with the Charities SORP (FRS 1021, the general volunteer twne of the Friends is rv
r¢Gogni8ed and referto the Trustees. report for more inf0rnat￿n about their contrbi Lrtlon.
On receipt. donated professional $8M¢èS and donated fadlrfes are recogn18ed on the basi8 of the
value of the gfft to the company which 1$ the amounl th¢ company wtyjld have been wllloig to pay to
obtaln services or facilities of equivalent benefil on Ihe open market. a corresponding
amount is then recagnised in expendiiuro in the period of rÈcelpL
Interest on fijnds held on deposit is induded when re¢elvabk and the amount can bg mgasured
rellably by the company. this is nomialty upon nolfficatton of Interest pakl or payable by the b8nk.
Income tax I￿O¥e￿oble in relation to donations receiwd under GWI Ald or deeds of Covenant 18
reGogni¥ed * the time of the donation.
Income tax recoverabte in relation to investrnent income is recognised at the tlme the Investment
income is receNable.
Page 9
continued...

THE TETBURY MUSIC FESTIVAL
NOTES TO THE FINANCIAL STATEMENTS- conllnued
FOR THE YEAR ENDED 31 DECEMBER 2024
ACCOUNTING POUCIE8- contlnu•d
Exp8ndltur•
Expgndilure is recognised once there Is a I￿0[ or ￿nStrUctive obligation to transfer economlc benefft
lo a third party. it is probable that 8 transfer of eGonomiG benefts will be required in settlement and the
amount of the obligation can be me&*u￿d rellabty. Expenditure is classrfied by activity. The costs of
each actlvity are made up of the total of dlre¢t ¢o$l$ and shared costs, including support costs invo
In und8rtaking each activty. Dlrect cost$ attributable to a single actlvity ar8 allocated directly lo that
a¢tivty. Shared costs which contribute to more than one actiwty and support Costs whlch are not
attribulabla to a 81ngle 8Gtfvlty are apport¢oned betsveen th088 aclfvilles on a basis consistgnl with the
use of resources. Admlnlstrallva eosts are allocated on the ba818 of tlm? Sp￿[ and depreGlatlon
¢harge5 alloGated on the portl¢)n of the 888et'$ u89.
Support costs are those costs Incurred dlrectly In 8UPPgrt of expendlture on the object8 01 the company
and include project man8gemenl caffied out al Headquarters.
CoBts of generatkng fund8 ar6 ￿sts kncurred In attradlng volurrtary income, and those SnuJrred in
Iradlng ￿tivit88 th81 rai86 funds.
Chgrlabb actlvities and Governance costs are c08ts Incurred on tho companys opgratSon8, Including
8upport C08t& ond costs relallno10 tho govomance of the compary apportl¢)ned lo charitabh actlvllle8.
Taxatlon
Tha company18 consldered to pa88 the tests #at out In Paragraph 1 Schedule 8 of the Finance Act
2010 #nd therefore 5t meets the dgfinition of a ch8rltsble company for UK CorporAtlon Tax purposes.
Ac¢ordlngly, the company 18 PQtenllal]y exempl from taxatlon In re8P8Ct of in￿rne or capltal gain$
rvA6ved wllhln categorles Covered by Chapter 3 Part 11 of the Corporallon Tax Act 2010 OT Sectlon
2S6 of the Taxalk)n of Charggable Galns Ad 1992, lo tho axt•nl that •u¢h Income or galns are appllod
exduslvely to charmable purpose4.
Fund accountlng
Géneral funds are unro8ldcted fund8 whl¢h are avallable for use at th• dlscretlon ol tho TruJtee8 In
further8n¢o of the general oble¢tlve8 of the ¢omp8ny and whkh havo not been de81gnatad other
purposes.
Deslqnated funds comprfse unrestrfct8d fvnd$ that have bean set aslda by the TNslo08 for partlcular
piJrp0668. Th6 aim and u88 of each d88lgnated fund16 sel out in the notes lo the financial statement8.
Restrktsd fund8 are fund8 whlch are to bo u8ed In Rccord8nce wlth 8pecM¢ re$lrictlon8 hnp08ed by
donor8 or whl¢h have b88n ral8ed by the company for partiuilar purpose8. Thè ¢osts of ralslng and
admSni8terlng such finds are charged agalnot the 8pecWk fund. The alm end of each re6tr1cted
fund 1$ set out In the notes to the finan¢lal stalem8nl$.
Inv88tment Ir¢come, gain8 and105888 are allocatsd to thg approprhts fund.
Addlllonal pollcl
Golng conc•m
There are no material uncertalnties that may ¢asl signfficant d¢)ubt on the Charitls ablltty to continue
as a going conc8m. The tru8tee5 are of the opinion that reserves remain Suff￿1￿1 for the objectlves of
the Charity to be a¢hleved In the next 12 months.
Debtorn
Tradè and other debtors are r8cognl$ed at Ihg settlement amount after any Irado dlscount offered.
Prepwnenls are valued at the amount pTykJ net of any trade diswunts due.
Cash at bank and In h•nd
Cash al bank and in hand includgs cash and Short temi highly Ilquid Investments vAth a 8hort maturfty
of three month8 or ths from th• date of acqulsttlon or ¢Jpenlng of the deposlt or similar account.
Llabllltle8 and provlslo
Pag810
contlnued...

THE TEfBURY MUSIC FESTIVAL
NOTES TO THE FINANCIAL STATEMENfs - Mntlnu•d
FOR THE YEAR ENDED 31 DECEMBER 2024
ACCOUNTING POUCIES- contlnu•d
Addltlon•l pollclos
abilities are recognised 7hthen there Is an d)rUati￿ at Bdanc£ sl*et d*e as a result of a past
event. il is prcknable a transfer of econom￿ benefjt knryl] be required wi sethemenL thè amount
of the settlement tan be estlmated refw. Liabffitie8 are recrfjnised at the amount that the company
anticipates it wll pay to settle the debt or the amount tt has recelb*d as adv4n¢gd payments for the
good or seNces it must pThde. Promi￿¢￿$ are measured at the best estimate of thg amounts
required to Sett￿ the O￿KdatKJn. Whern thé effect of the tim& value of money Is materlal. th& provision
is based on the present value of Itthe am¢)unts, disc¢)unted at the prfrtax discount rate th* rellèct$
the risks 8pecrf￿ to the lithkty. The the dlscount is recognl8ed within interetst poyable and
simikn charges.
Flnanclal Instrum•nts
The company onty has financial a88et8 and finar￿￿￿ liabli1188 of a klnd thal qu811fy a8 flnarteial
Imtruments. Ba¥ic financial in$tnmients are inrt• rncognised at transa¢*ffi value and 8ub8equ8nlty
mo88ured at Ih•r tsettlement vdu8 *ith the ex¢eptK)n of bank k*8ns arn subsequenlly measured
at amortlsed c08t dfecthm kntere&t m*hod.
DONATION8 AND LEGAcies
2tr24
2023
Donations
Glft aid
23,TTO
5,526
25,416
5,879
29,2
31.295
INVE8TMeNT INCOME
2024
2023
Deposit accourt Intere61
1.208
TRUSTEE8' REMUNERATION AND BENEFrrs
Thern wdre rK+ Irustew, romun•rnlion or cther benefts for the yaar end•d 31 D•¢thnb8r 2024 n¢x for
tho ended 31 Oecember 2W23.
w•r• no tru8teu' expen8e8 pfjid for th• yow onded 31 Dwibor 2024 nor for thg sw onded
31 Doe￿ber 2023.
COMPARATIVES FOR TrE STATEMENT OF FINANCIAL ACTMTIES
Total
lund8
fvnds
fund$
INCOME AND ENDOWMENTS FROM
Octt)at￿ns and legacles
31.295
31,295
Charllable acllvltlgs
Tetbury Muslc Festtv
53,057
53.OSI
Investrnent incc#ne
84.934
EXPENDITURE ON
Page 11
cOntin￿d...

ThE TETBURY MUSIC FESTNAL
NOTES TO THE FINANCIAL STATEMEpifs . contlnued
FOR THE YEAR ENDED 31 DECEMBER 2024
COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTMTIES- continued
Unrestricted Restricted
fvnds
Tota
fuThJs
Rash￿ furK
7208
7.208
Charltable actlyltleg
Telbury MU￿¢ Festival
f4).435
60.435
Tolal
67.643
67,643
NET INCOME
17.291
17,291
RECONCIUATION OF FUNDS
T¢)lal tunds bI￿ght foThvard
67.498
400
TOTAL FUNDS CARRIED FORWARD
84.789
85.189
DEBTOR8: Amouiifs FALUNG DUE WITHIN ONE YEAR
2024
2023
Other d*tors
5.526
5,879
CREDITORS: Amoupifs FALUNG DUE VIIThIN ONE YEAR
2024
2023
1.740
1.180
Other creditors
9,531
5.244
10,711
MOVEMENT IN FUNDS
Net
movement
in fvjnds
At 111r24
31112124
Ufirostrlctod fvnd8
General fund
David Th¢ynas Trn￿t
74.789
10.IXJO
24.089
(10,000)
98.878
84.789
14,089
98.878
R8stricted funds
MUS￿ in locd school$
1400)
TOTAL FUNDS
85,189
13.689
98,878
Page 12
¢￿tinued...

THE TEfBURY MUSIC FESTIVAL
NOTES TO THE FINANCIAL STATEMEPITS- contlnuod
FOR The YEAR ENDED 31 DECEMBER 2024
MOVEMEKf IN FUNDS- contlnued
Not moNYmgnt in funds. Irt1￿ in the abo%* are as folkms:
In fund$
Unrmtrfctsd funds
General furvj
' David Thomas Trust
94.319
(70.2301
(10,0(M))
24.089
(10.OLKI)
94.319
(80,2301
14,089
RWtrIct￿ funds
Mu81¢ In to¢al 8ctr#x
{400}
{4￿)
TOTAL FUNDS
94,319
{80,830)
13,689
At 111r23
Sn funds
31n2Q3
Unv••trkt•d funds
Generd furKI
David Thomas TnMI
47,498
20.0fy)
27,291
(10,OryJ)
74.789
10,000
67.498
17291
84,789
Re•trl¢t•d fvnd•
Mu•le In kKal sthooli
400
TOTAL FUNDS
17.291
85,189
C(mparatl¥e net movemant In fund•. Ind￿18d kn Ihel above are as fo*M:
eXp￿d8d h funds
Unro*trfct•d fund•
General fund
DavKI TI￿na• TrLMt
157.6431
{10,0001
27.291
(10,1)XI)
84.934
{67.643)
17.291
TOTAL FUND8
84,934
167.643)
17,291
Page13
¢￿tinUed...

THE TEf8URY MUSIC FESTIVAL
NOTES TO THE FINANCIAL STATEMENTS- continu¢d
FOR THE YEAR ENDED 31 DECEMBER 2024
MOVEMENT IN FUNDS- contlnued
A current year 12 months and wioryear 12 months combined pos6t11￿ is as foll¢v•VS.'
Net
movement
in funds
At 111r23
31112r24
Unrestrlcted funds
General fund
David T￿M83 Trust
47,498
20,000
51.380
I20.C￿l0)
98,878
67,498
31,380
98,878
Restricted funds
Music In local schools
4fM)
(400)
TOTAL FUNDS
67,898
30.980
98,878
A current year 12 months and prior year 12 months combined net m¢)vement In funds. Th)¢luded in the
above are as follows..
Incoming
resources
Resources Movgrnenl
expended
in funds
Unr•strlct•d funds
General fund
David Thomas Trust
179,253
1127,8731
120,0001
51.380
{20,O¢yJ)
179.253
(147.873)
31,380
Restrlct•d funds
Muslc In l¢)cal schools
{400)
(400)
TOTAL FUNDS
179,253
1148.273)
RELATED PARTY DISCLOSURES
A number of Trustees and thgir close famity members are also members of the Dolphin Membership
Scheme and pay the relevant membership subscriptions. These 8ub$Griptions, and for 2024 donations,
amounbj to £1,250 {2023- £1,375} In the year ended 31 December 2024.
There were no outstandin9 babn¢e5 Wth related parttes at 31 De*mb6r 2024.
Page 14

THE TETBURY MUSIC FESTIVAL
DEfAILED STATEMENT OF FINANCIAL ACTMTIES
FOR THE YEAR ENDED 31 DECEMBER 2024
2024
2023
INCOME AND ENOOWMENTS
Donatlons and legacles
Donations
Gift aid
23,T/O
5,526
25,416
5.879
29.296
31.295
Investment Income
Deposit account Interest
1.208
Charttablo a¢tlvltl8s
Festival ticket sales
Sale of wine and programmes
Grants and sponsoTship
Olher income
40.770
4.24S
18.800
33,8n
4,749
14,300
136
63,815
53.OS7
Total Incomln9 regouv¢eg
94,319
84,934
EXPENDrruRE
Ralslng donations and legacles
Admlnlstratfve eypen8e8
1,125
7,208
Charltable actfvitlos
Ticket sale fees
Artist fees and expenses
Catertrwj and refreshment
Other festNal expenses
Marketing
ExaminatK)n fe8S
Music in local Schools
1,284
45.696
3,575
15.658
10.784
1.908
600
32.446
3,251
14.325
8.679
1,734
79.505
60,435
Total resources exwded
80.630
67,643
Net Income
13.689
17,291
Thls page does not fomi part ofthe Statutory financial statemer
Page 15