CORNWALL INTERNATIONAL MALE CHORAL FESTIVAL LTD (LIMITED BY GUARANTEE)
Unaudited Trustees’ report and financial statements for the year ended 30 June 2021
Company registration number 04509936 Charity registration number 1099924
Cornwall International Male Choral Festival Ltd (Limited by guarantee)
Financial Statement for the year ended 30 June 2021
| Contents | Page |
|---|---|
| Legal and administrativeinformation | 4-2 |
| Trustees’ report | 3-7 |
| Reporting accountants report | 8 |
| Statement offinancial activities | 9 |
| Statement offinancial position | 10 |
| Notestothefinancialstatements | 11-16 |
Cornwall International Male Choral Festival Ltd (Limited by guarantee) Legal and administrative information For the year ended 30 June 2021
| Name of Charity: | Cornwall International Male Choral Festtval. |
|---|---|
| Company Registration Number: | 4509936 |
| Charity Registration Number; | 1099924 |
| Governing instrument: | Memorandum and Articles of Association. |
| Constitution: | Limited company |
| Charity objects: | Themain objects of the charityas defined by the |
| Memorandum of Association are:- | |
| - to advance, promote, develop and maintain public | |
| education in, and appreciation of, the artand | |
| science ofmale voice singing in all its | |
| aspects, particularly, but not exclusively through | |
| the holding ofan international festival. | |
| Charity Trustees: | B Taylor Chairman |
| J Larke | |
| JT Coplin | |
| RVL Ellis | |
| RJA Robinson | |
| A Howells | |
| MrsA Renshaw | |
| Ms D Skinnard | |
| A Lancaster | |
| J Pollard | |
| D C Lansdowne | |
| J Houldsworth | |
| DEHughes |
The above Trustees constitute directors of the company for the purposes of the Companies Act 2006. No director has any beneficial interest in the company. All trustees are members of the company and each guarantee to contribute £10 in the event of a winding up.
President
Colonel! Edward Bolitho OBE Lord-Lieutenant of Cornwall
Honorary Vice Presidents Michael Galsworthy CBE, CVO, DL Dr Roy Wales BEM David Peters Ellen Winser MBE DL Peter Davies
Festival Artistic Director
G Churcher
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Cornwall International Male Choral Festival Lid (Limited by guarantee) Legal and administrative information continued: For the year ended 30 June 2021
Suitable personnel are identified by the existing trustees on the basis of their skills and knowledge and invited to become trustees. Newly appointed trustees are provided with copies of the charity's accounts and memorandum and articles of association prior to appointment Guidance on the charity's ethos and activities is provided by
the Chairman and Festivat Artistic Director.
The following trustees retire by rotation at the next annual general meeting and offer themselves for re-election:J Larke, R Robinson, A Renshaw, A Lancaster and J Pollard
Principal address and registered: Peat House office of the charity Newham Road TRURO TR1 20P Bankers: Barclays Bank 14, King Street Truro TR1 2RB CCLA Investment Manager Ltd COIF Charity Funds 85, Queen Victoria Street London EC4V 4ET Independent Examiner: Hodgsons Chartered Accountants 48 Arwenack Street Falmouth TR11 3JH Organisation structure: The Trustees are responsible for the management and control of the charity and receive regular reports from the Festival Artistic Director
The Festival Executive Committee which includes the Chairman, Vice-Chairman, Treasurer and Festival Director liaise on a regular basis in order to make key decisions relating to Festival events.
As a result of the Covid-19 pandemic, face to face meetings have been temporarily suspended and when communication is required, this is undertaken via video conferencing.
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Cornwall International Male Choral Festival Ltd (Limited by guarantee)
Trustees’ report
For the year ended 30 June 2021
The Trustees present their annual report which includes the Directors Report for Companies Act purposes and financial statements for the year ended 30 June 2021.
Legal and administrative information set out on pages 1 and 2 forms pant of this report.
The trustees have adopted the provisions of the Charities SORP (FRS102) ‘Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard appticable in the UK and Republic of Ireland (FRS102).
Objects and principal activity of the charity
The Trustees have complied with the duty in Section 17 (5) of the Charities Act 2011 and have had due regard to public benefit guidance published by the Charity Commission in setting the activities required to meet its objects
The charity's objects are to advance, promote, develop and maintain public education in male voice choral singing.
The principal activity of the charity during the year was to continue to undertake the planning for the tenth International Male Chora! Festival which was planned for 2 ~6 May 2021 but due to the covid pandemic needed to be postponed until 28 April and 2 May 2022. This has involved investigating and securing venues, recruiting choirs and adjudicators and receiving entries for the 2021 International Composers competition which will be judged tater in the year. The 2020 International Composers Competition was judged during the year and to fill the void left by the planned 2021 Festival, a virtual Festival was organised through the internet between 1°! and 3 May.
In addition the Charity has continued to support the establishment of young male choirs in the county at primary and secondary ages.
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Comwall International Male Choral Festival Ltd (Limited by guarantee)
Trustees’ report
For the year ended 30 June 2021
Chairman’s Report 2021
Under “normal” circumstances 2021 would have been the year when we would have held our 10" Festival and | am sure that this report would have been reflecting on what would have been another great Festival. Unfortunately with the Covid-19 Pandemic continuing to dominate our lives the 2021 Festival did for obvious reasons not happen and whilst this was of course a major disappointment it has given us the time to look at other opportunities to keep the Festival flag flying!
One example of this being the virtual presentation in November last year of the International Composers Competition which attracted 650 virtual viewers and some fantastic entries. Another being the CIMCF Virtual Choral Festival that was held online during May this year which brought together choristers, composers and music professionals from all over the world. My thanks on behalf of the Festival must go to Arts Council England for their funding to support this event in particular and CIMCF on a wider scate, with thanks also to the generous support of CIMCF by local charities FEAST and The Tanner Trust. The success of these virtual events will also help us shape future events and the next international Composers Competition presentation in November will be a blended event with a mix of in person and virtual elements, which is also likely to be a feature of the future main event Festivals.
| would like to thank Gareth our Festival Artistic Director for his continuing commitment, enthusiasm and innovation in these very challenging times and would also like convey my sincere thanks to our President, Vice Presidents, the Board and other members of the Company, our Patrons and Sponsors, Choirs and supporters for their continued support.
We have endeavoured to keep the Festival moving forward and with plans for a LIVE 10" Festival in 2022 (28 April to 24 May), we have been greatly encouraged by the number of choirs already signed up and committed to take part, something at long last for us all to look forward to!!
Bruce Taylor
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Cornwall International Male Choral Festival Ltd (Limited by guarantee)
Trustees’ report
For the year ended 30 June 2021
Festival Artistic Director's Report 2021
If CIMCF was in the normal run of activities then this report would have been commenting on the Festival that should have run in 2021. instead CIMCF has found itself in somewhat of a holding pattern in 2021 and in the earliest stages of planning for the postponed festival that will now run in 2022.
However the “downtime” has been used to great advantage affording innovations in practices that, if it was not for the COVID pandemic, would not have been explored. Instead the festival can boast that during the period that his report covers, a virtual presentation of the International Composers Competition happened in November attracting 650 virtual viewers. Furthermore CIMCF brought together choristers, composers and music professionals from all over the world through the Virtual Choral Festival that was held online during May 2021. This attracted much needed funding from Arts Council England to help the event and CIMCF on a wider scale and again CIMCF was supported generously by local charities in FEAST and The Tanner Trust.
The pedagogical and musical benefits of these events were clearly demonstrated and it joined musicians together who would not otherwise have been able to. These virtual events also kept the profile of CIMCF high and this heightened awareness due to the diversification of activities attracted a new audience.
It is exciting to note that the learning from these virtual events will be embedded in future CIMCF’s with blended options available going forward. The next International Composers Competition presentation, an additional event in the normal run of CIMCF activities, will be a blended event with a mix of in person and virtual elements and this most likely will be a feature of future main festivals.
On a personal level | would like to acknowledge the support and empathetic vision of the festival board and executive committee. | am sure at times there will have been concerns and apprehensions in many regards but the encouragement and support has been unwavering.
Looking forward to 2022 | am relatively reassured at the current level of registrations of visiting choirs and maintain that CIMCF 2022 will be an important aspiration for many Male Choirs. A light at the end of what has been a very long and dark tunnel.
Gareth Churcher
Cornwail International Male Choral Festival Ltd (Limited by guarantee)
Trustees’ report For the year ended 30 June 2021
Review of Financial Position
The income and expenses for the year are disclosed on page 9. The Charity suffered a deficit of £3,921 during the year on its unrestricted activities. In addition to donations the trustees were successful in obtaining a grant from the Arts Council Culture Recovery Fund to assist with the cost of the 2021 virtual activities and secure the charity's ability to return to holding live events in 2022. Unrestricted Reserves of £22,925 remain at 30 June 2021 which will enable the Charity to hold the tenth Festival which has now been postponed unti! 2022.
investment policy
The charity's investment powers are set out in its Memorandum and Articles. The Trustees consider the day to day cash ftow requirements of the charity are such that surplus funds need to be held on a short, rather than a long term basis. Cash funds are monitored on a regular basis and where possible are invested on short term deposit although current tow interest rates provided little opportunity to do this.
Reserves Policy
The Trustees aim is to create sufficient reserves to ensure the charity's long term wability and in particular to support the holding of further male choral festivals. The Unrestricted Reserves stood at £22,925 at 30 June 2021 and based on their budgets of income and expenses the trustees are satisfied that the holding of the delayed tenth Festival in 2022 will be financially viable and an adequate level of reserves can be retained at 30 June 2022 to allow the Charity to continue to meet its objects. The balance of the Arts Council grant in restricted reserves of £12,589 will also be available to support future festival costs
In addition, thanks to a generous legacy from a former trustee of the Charity in 2016, restricted funds of £10,768 are held which will be used for the future support and development of two of the county's young male choirs
Risk Management
The Trustees have assessed the major risks which they have identified and to which the charity is exposed and are satisfied that systems are in place to mitigate the charity's exposure. The major risks relate to:-
- a) financial viability which the trustees have adopted a reserves policy to address and b) event risk for which insurance cover is held c) the covid pandemic which has resulted in the postponement of the 2021 live Festival to 2022
A detailed risk assessment will be undertaken in advance of the Festival events with particular reference to any implications of the Covid-19 pandemic that may still apply at that time.
Tax Status
The company being a registered charity is exempt from corporation tax on its investment and other non-trading income.
Future Plans
Having made the decision to defer the main festival event until 2022 the planning for this will continue in 2021 and consideration will be given in 2021 to holding digital on line activities to maintain interest in male voice singing and promote the 2022 festival.
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Cornwall International Male Choral Festival Ltd (Limited by guarantee)
Trustees’ report
For the year ended 30 June 2021
STATEMENT OF TRUSTEES RESPONSIBILITIES
The trustees (who are also the directors of Cornwall International Male Choral Festival for the purposes of company law) are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Company law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure of the charitable company for that period. In preparing those financial statements, the trustees are required to
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select suitable accounting policies and then apply them consistently; - observe the methods and principles in the Charity SORP;
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make judgements and estimates that are reasonable and prudent; - prepare the financial statements on the going concer basis unless it is inappropriate to presume that the chantable company will continue in business.
The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and to enable them fo ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Approved by order of the board of trustees on 10 August 2020 and signed on its behalf by:
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RJA Robinson (] i ) ‘
Secretary
10 October 20
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Peat House
Newham Road
TRURO
TR1 2DP
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Cornwall International Male Choral Festival Ltd (Limited by guarantee)
Independent examiner's report to the trustees of Cornwall International Male Choral Festival
(‘the Company’)
| report to the charity trustees on my examination of the accounts of the Company for the year ended 30 June 2021.
Responsibilities and basis of report
As the charity's trustees of the Company (and also 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 your charity's accounts as 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. | confirm that no matters have come to my attention in connection with the examination giving me cause to believe:
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accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or
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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
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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)].
Ihave no concerns and have come across no other matters in connection with the examination to which attention snoulepre drawn in this report in order to enable a proper understanding of the accounts to be reached JP DningHodgson BA’(Hons) FCA Hodgsons Chartered Accountants
48 Arwenack Street
Falmouth Cornwall
TR11 3JH
Date:- 9 Nadeadnas Bnd
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Cornwall International Male Choral Festival Ltd (Limited by guarantee)
Statement of financial activities (including income and expenditure account) For the year ended 30 June 2021
| For the year ended 30 June 2021the year ended 30 June 2021year ended 30 June 2021ended 30 June 202130 June 2021June 20212021 | |||||
|---|---|---|---|---|---|
| Restricted | Unrestricted | Total | Total | ||
| 2021 | 2021 | 2021 | 2020 | ||
| Incomefrom Voluntary income |
Noles | £ | £ | £ | £ |
| Donations, grantsand legacies | 4 | 21,700 | 8,600 | 30,300 | 0 |
| Investments | 0 | 7 | 7 | 118 | |
| Charitable activities | |||||
| Competition | 0 | 1,259 | 1,259 | 0 | |
| Ticket sales (includingfundraising concert) | 0 | i) | () | 63 | |
| Total | 21,700 | 9,866 | 31566 | 181 | |
| Expenditure on | |||||
| Charitable activities | |||||
| Festival director's fee, travel and accommodation | 0 | 8,750 | 8,750 | 17,541 | |
| Postage, stationery and telephone | 0 | 81 | |||
| Virtual Festival and composercompetition costs | 3,025 | 3,750 | 6,775 | 30 | |
| Supporting ITcosts | $86 | 278 | 864 | 0 | |
| Marketingand public relations | 0 | 404 | 404 | 1,193 | |
| Administration costs | 5 | 0 | 605 | 605 | 464 |
| Total | 3,611 | 13,787 | 17,398 | 19,309 | |
| Net (expenditure) income | 6 | 18,089 | (3,921) | 14,168 | (19,128) |
| Transfers | (5,500) | 5,800 | 0 | fe) | |
| Funds at 1 July2020 | 10,768 | 21,346 | 32,114 | = 51,242 | |
| Fundsat30June2021 | 23,357 | 22,925 | 46,282 | 32,114 |
Continuing operations
All income and expenditure has arisen from continuing activities
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Cornwall International Male Choral Festival Ltd (Limited by guarantee)
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Company registration number 04509936 Charity registration number 1099924
Statement of Financial Position 2021 2020
As at 30 June 2021
Notes £ £ £ £
Current assets
Debtors 8 1,400 67
Cash at bank 53,016 37,335
54,416 37,402
Current liabilities
Creditors: amounts falling due
within one year 9 (8,134) 46.282 (5,288) 32,114
Net Current assets 46,282 32,114
Charity funds 10
Unrestricted funds 22,925 21,346
Restricted funds 23,357 10,768
46,282 32,114
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Statement by the directors :
The charitable company is entitied to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2021.
The members have not required the charitable company to obtain an audit of its financial statements for the year ended 30 June 2021 in accordance with Section 476 of the Companies Act 2006.
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The directors acknowledge their responsibilities for: (a) ensuring that the charitable company keeps accounting records which comply with sections 386 and 387 of the Companies Act 2006 and
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(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 profit or loss 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.
These financial statements have been completed in accordance with the special provisions of part 15 of the Companies Act 2006 relating to smal! charitable companies.
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These financial statements were approved by the Board of Trustees on 10 October 2021 and were signed on its
behalf by: gpa or °
B Taylor
Director |
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Cornwall International Male Choral Festival Ltd (Limited by guarantee)
Notes for the year ended 30 June 2021
(Forming part of the financial statements)
1. Constitution
The company was incorporated in England under the Companies Act 2006 as a private company Limited by Guarantee and not having a share capital. !n the event of winding up, every member of the company is liable to contribute a sum not exceeding £10 per member towards the debts and liabilities of the charity and the costs and expenses of winding up. The company number and registered office address can be found within the Report of the Trustees. The financial statements cover an individual entity.
2. Accounting policies
Basis of preparing the financial statements
The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP ‘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 (effective 1 January 2019) and the Companies Act 2006. The financial statements have been prepared under the historical cost convention, The financial statements are presented in sterling, which is the functional currency of the charity. Monetary amounts in the financial statements are rounded to the nearest pound sterling.
Donations
Income from donations is credited to the statement of financial activities when it is receivable.
Grants
Grant income is recognised when the charity is entitled to the income and receipt is probable.
Resources expended
Resources expended are included in the statement of financial activities on an accruals basis.
Unrestricted funds
These are monies received by the charity which can be used by the trustees without restriction to meet the charity's objects
Restricted funds
These are monies received by the charity for a specific purpose imposed by the donor
WM
Cornwall International Male Choral Festival Ltd (Limited by guarantee)
Notes for the year ended 30 June 2021
(Forming part of the financial statements ~ continued)
Deferred income
Deferred income is income received during the year which is carried forward as it relates to following years
Going Concern
The board has considered a period of twelve months from the date of approval of the financial statements and the board has a reasonable expectation that the charitable company has adequate resources to continue in operational existence for the foreseeable future. There are no material uncertainties that may cast a significant doubt over the charitable company's ability to continue.
3 Employees and directors
The average number of employees during the year was Nil (2020 - Nil)
4, Donations, grants and and legacies
Donations, grants and and legacies 2021 2020 £ £ Grants County, Town and City Councils 1,000 0 Tanner Trust (restricted) 2,600 0 Creative Kernow (restricted) 1,060 0 Arts Council (restricted) 18,200 at) 22,700 a
Sponsorship and donations
Private Donations and Gift Aid 2.800. 0 7,600 —__9 Total 30,300 0
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Cornwall international Male Choral Festival Ltd (Limited by guarantee)
Notes for the year ended 30 June 2021
(forming part of the financial statements continued)
| 5. | Administration costs | 2021 | 2020 |
|---|---|---|---|
| £ | £ | ||
| insurance | 477 | 317 | |
| Other administration costs | 428 608 |
147 464 |
|
| 6. | Net Expenditure/(income) | 2021 | 2020 |
| £ | £ | ||
| Incomingresources fortheyearare stated | |||
| after charging: | |||
| Directors’remuneration | nil | nil |
The directors who are also trustees received no remuneration or expenses during the year (2020 ENil}
7. Taxation.
The company is not subject to tax due to its charitable status.
| 8. | Debtors | 2021 | 2020 |
|---|---|---|---|
| £ | £ | ||
| Gift Aid | 1,300 | 0 | |
| Otherdebtors | 400 1409 |
67 wail |
9 Creditors: amounts falling due within one year 2021 2020 £ £ Other creditors and accruals 4,280 1,089 Deferred income 3,854 4,199 8,134 5,288
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Cornwall International Male Choral Festival Ltd (Limited by guarantee)
Notes for the year ended 30 June 2021 (forming part of the financial statements continued)
10. Statement of movements on charity funds
| Unrestricted funds | £ | ||||
|---|---|---|---|---|---|
| Balance at 1 July 2020 | 21,346 | ||||
| Incoming resources forthe year | 9,866 | ||||
| Outgoing resources for theyear | (transfer) | (13,787) | |||
| Transfers | 5,500 | ||||
| Balance at 30 June2021 | 22,926 | ||||
| Made up of Debtors | 1300 | ||||
| Bank | 26,734 | ||||
| Creditors | (5,109) 22,925 |
||||
| Restricted funds | Youth Choirs £ |
_—Virtual Festival £ |
Arts £ |
Council | Total £ |
| Balance at 1 July2020 Incoming resources forthe year |
10,768 0] |
0 3,500 |
0 18,200 |
10,768 21,700 |
|
| Outgoing resources fortheyear | 0 | (3,500) | (111) | (3,614) | |
| Transfers | 0 | 9 | (5,500) | (5,500) | |
| Balances at30June2021 | 10,768 | —___ | 12,889 | 23.357 | |
| Made up of Debtors Bank |
- 10,768 |
100 2,925 |
. 12,589 |
100 26,282 |
|
| Creditors | - | (3025) | - | (3,025) | |
| 40,768 | - | 12,589 | 23.387 |
{a} The youth chairs restricted fund relates to supporting youth choirs in Cornwall
(b) The virtual festival funds relate to two grants given to support a virtual festival in 2021 (c) The Arts Council Recovery Fund grant was provided to partly support the virtual festival and also to assist the charity in continuing its activities which were affected by COVID
10 Deferred income
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2021 2020
£ £
Balance at 1 July 2020 4,199 0
Allocated to income in year (1,259) (0)
Amounts deferred in the year 914 4,199
Balance at 30 June 2021 3,854 4,199
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Cornwall International Male Choral Festival Ltd (Limited by guarantee)
Notes for the year ended 30 June 2021
(forming part of the financial statements continued)
11 Services received in kind
The trustees are appreciative of the services provided by Hodgsons in acting as Honorary Independent Examiners.
12 Comparatives for the statement of financial activities
| Restricted | Unrestricted | Total | |
|---|---|---|---|
| 2020 | 2020 | 2020 | |
| £ | £ | £ | |
| Income from | |||
| Investments | 0 | 118 | 118 |
| Charitable activities | |||
| Ticket sales (including fundraising concert) | 0 | 63 | 63 |
| Total incoming resources | 0 | 181181 | |
| Expenditureon | |||
| Charitable activities | |||
| Festival director's fee, traveland accommodation | (8) | 17,541 | 17,541 |
| Postage, stationeryand telephone | 0 | 81 | 81 |
| Festival concert, competition and eventcosts | 0 | 30 | 30 |
| Marketing and public relations | 0 | 1,193 | 1,193 |
| Administration costs | 0 | 464 | 464 |
| Total resourcesexpended | 0 | 19,309 | 19,309 |
| Net (expenditure)/ income | 0 | (19,128) | (19,128) |
| Funds at 1 July 2019 | 10.768 | 40,474 | $1,242 |
| Fundsat30June2020 | 10,768 | 21,346 | 32,114 |
14%
Cornwall International Male Choral Festival Ltd (Limited by guarantee)
Notes for the year ended 30 June 2021 (forming part of the financial statements continued)
13 Related party disclosures
There were no related party transactions for the year ended 30 June 2021 The trustees and festival director are listed on page 1 of the charity's financial statements
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