Clwrity Regtsiraiion No. 1107812 lion No. 52TJ571 BUDLEIGH MUSIC FESTIVAL ANNUAL REPORT AND FINANCIAL SfA1EMES FOR THE YEAR ENDED 31. AUGUST 2•25
BUDLEIGH MUSIC FESTIVAL Charitable Incotp)rated Organisation LEGAL AND ADMThisfRATIVE INFORMATION Thistees Mrs CaiheTine Turner known as Ms Kate SomeTby Dr M Collie Dr M Eva5 MrJAI Registered office 5 West Terrace Budleigh Salienon EX9 6LU Charity number 1107812 Company number 5277571 Independent Examiner Mrj D Bick. FCA Bick Accouniants Ltd 18a Litileham Road Exmouth EX82
Indtpendent Examiner's Rryort to the af I rep)rt to the trustees on my of the acc(xuts of the Btsdieigh Music Festival ('d Chariry.) for the year ended 31 Augu 2025 which are se( page5 7 to 12 requireJneT]ts of the Chariues Acr 2011 ('the Aa.). I rert in respect of my examinion of the Clwiry's actlwts Caled under seaion 145 of the 2011 Aa and In ¢Ing ¢xl my exami¢1 I have followed all the appIable Direction5 given by thè Charlty CoJnm&ssioD secdon 145(SMb) of the ACL I have complered nly ejtanlnatlon. I c(mfirni no have come w my atteniion i l. accoundng ffCOTds were not keFrt in w ofthe ChaTity as Tewind by seaion 1>) ofthe 2. the accounts do noi accord wlth otr, or . 3. the accounts do cotnply wlth the applkable reqUiteM tl forni and cortent of xcourns set (t in the charl (Accounts and Rells) Re8llIaL 2(K18 (thEr than any requbement that the counts 8ive a 'm and fair vlew which 15 a matr COll51dered as part of an IPe[M examlnatlo I have no concerns and have come auoss other manas In cOnneOn wlth the examlnation to which attention slmwld drawn in thi5 th lxder enaAe a w(pr UrMIer of the SI8Ded: Name: James Blck FCA Addres&"18a Littleham Rlwd Exmim EX8 2QG
BUDLEIGH MUSIC FESTIVAL TRusfEES REPORT FOR THE YEAR ENDED 31" AUGusf 2025 The TnJsM p[ their rep)rt and fitwncial StslemLts for the year eIed 31" August 20Z5. The linancial sleMents have i1 pretwal &cordall with the acc¥Juniing polioes sel out note I to the aCCOiUlE5 and comply whth the charity governing d(U[De and the requirements of the ChaTiues SORP (FRS102). The charliy is consuiuied as a Charithle IncorwK3MI (h83D1Wl( wlth an associaiion governing d(KMeL The trustees WIKJ seryed dwin8 the year were.. Catherine Turner, kNJwn as M5 Kate Somttty DT M Lollie Dr J Keliher - dete January 2026 Dr M Evans MrJAIp New trystees art by an exisiing nwmber ID Cordan with the Consiiwiion and are elected at a subsequenL tneeiin%. New IFUStees are given a written 1ry1110n and advis io coD5uli the Charfiy Commission website lor funkn infonnation. Norke of the irwees ho any irIQaI inwem in the dwrfty. Injstees ate SUprted by a numbtr of actlve OF*raioDal trarns. The Thee$ aThJ Heads of Depanmeni M£ regularly io review ongoin8 0rationS aTMI plans aTrJ considu rrw projeLts. All major sira(eiic decision5 regarding the chariiy are m&le ai these meaings. UThler ihe Consilrniion the djariiy has the p)wer rnake investmeni li sees fiL Objects and aaivldes The chariiy's objerL4 and Its principal acuvilies continue 10 be 10 advantr the educailon of ihe public In the arts including music, an and drama. by holdin8 a feIval Én Budloi8h Saltenon aThl such her events as the irusiees shall from time io time deterniine. The auiviiies undertaken in further of the charily's (&jective5 are io: orgatLi5e ojliutsl evenis and, in panicular. a feAival of evening and lunthtlrne concens featurin8 nailonal a1 iniernaiional artists as well as Iwal and uwJmin8 perfonnff5; work wilh local sclKM)Is a[ young tryle io fosw musi(71 appEdation and enCUrage partlclpation In culiural events., liaise with l(Kal or8anisaiions and eSbE151ertts to a$sle lIvIlle5 with the feAival. Pubiit BEnrfit and Communlty V•lyn¢eern The have corsidered the Charity Cornmission's guidance on public benefit relaiirtg io Its actlvliies. The charity is very involved in the communtiy and is de1 oft unpaid vOlunry help in all atta4 including concert anageMent. markeiing. publicity, si£wardin8 events aThl liaising with lestival Friends. Wiihout Such assisthnce the charlty would not be able w mea its thlectlves. The chartty relle5 on grants and FrivKls ¢k)nations as well a5 tickd sales. to cover opernun8 Costs, and has an established list of Friends ol the FeiVal wkne thtrnaiions t0VIde a vital solle of income. The tn]stees glve careful consi(knation to accessibiliry 10 events for those wih disabiliiyes and on low incomes. Chair's Yert. achi¢Yelllts and tOanCe This w&% the 20th year of the Budleigh Music Festival andThLqee5 were keen see it as a celebration of what we have athievLYt so far as well as a launch1 lor the fu1u. Following a strategy meaing in Spring 2024 where we sei wgets for the next 5 Yea il was pleasing io see in a mid-ienn rtview ol progltss in Augusi 2025 that many ol our ains a already embedded in the rnallagerne pmgramming Budleigh Music Fe5tsval.
With a programme of 20 events to celelThe our 20 year5 and a foLW on fillding Dew audleft we appointed our first ever Festival Manaw tsn a Irt.1]me tertD c(xKrdCt This role suwxjrts the kniAiC DitEaor and is
nsible for Concen manage4 Anig Liaison. programmes and Iure. en5Uting thai we can offer anists anil audience5 a complaely prof)01 experien despi most role5 within the or8anisauon bein8 coveMi by a tram of volunth5. Programming was varied alxl diverse. with perfonnances by HM Band of the Royal Marine5 Plymouth. Èhe London Africatt GOS] c11r. Sir &ephen Hough, Sir Mich1 MorEMugo and Jess Gillarn name bui a few. We held our fiN ever Families Day with a series of music worksl¥)ps held a(TOSS the iowD, mounied a Relax1 Concert which was well anendLid by local S[la1 (M)L$ and communiiy groups, had a h0O15 only concen, held a partnetship event with Blle1&h Saittyton Fesuval and On again held a dk)rnl workshop for local amaleur singer5 with partiapaion Irom 5 Ial 5cIMx)1s. Educaiion WO coniinues io I aL the hean of ihe Music Festival, wilh workshops held in sdwls, Dev¢)n Youth Wind (htheth [OrmIng wilh HM Band of the Royal Marines and Jess Gillarn. aThJ free tickets used by Sd1$ events. Tlcket revenue rematned bwartt despite SO minor redlI)n$ to sealing capacity in our main venue. We had slrong audhence aiiendance aCT¢)S5 all even wilh 3 sellwi 51M)ws and far more p)Ple &iending daytime events. Our PR campaign saw a latBe increase in our social media reath and 96% of responders to our audience SUTvey said ihai they would aiiend an eveni next year. Lkn a8ain Budlei8h Music FeIval was feawred in local TV news as well &$ I(31. re8ional and national PIVJS. Thtee5 had prepared themselves for a small lo this year due 10 the ambiiious programme. agreetng 10 dlp lrtto our reserves if necessary. However. financi& sutwrt from Fe1¥al Fri(Thb, a nurnber ol patrons and 8tani giving chariiies (including our flrst ever Council awanl) meant thai ihis was unnecessary. It coniinues io be a challen8in% financial larSta lor live (LS1(al mLLSkC events. a con]binaLiOn ol carelul planThin8 and lar8eied 8rant applicau0 have enabled us to conunue io mett our (twible aims. Future plans 5tKlude the first pttfornurKe In FeAival 2026 of a Syal commisslon by our pthn Bob Chilcoll for youth cholr and latt irfo. We wlll be collatK)raiitt8 wlth Devon Music Educatlon Hub. providlng perfomiance OprtUni11e5 lor over 3 thildm across Ikvon. Tr Fe5uval will a]so include iwo special rotnmetnoraiive and lundrdisinB even, (ollowin8 the of ol our key supponff5 - Janei Kelihcr, and Matihew Upham. We will rep)n further on all these In nexi year s annual reporL Financial review The tnjstees re[ that thffe wa% an overall fRnandal surplus of £7.818 for the year tjed 31" A81 2025. Total revenue Irom ucket $e$ was some I 1% higlr than 2024. This included one eveni thai was st>ed from ihe 2024 fesiival. The Feslival was again successlul in securin8 substhniiJ 8rants and sponsoE5hip from a nutnber ol funding organisaiions aTKi individual 5rffjnsor& Financial support from Fesiival friends also remained siron8. Total voluntary income w&% £8A175 c(Mnwed to £S2201 in 2024. Tothl eX[Mlt xyoss all festival actlvitie5 rose by some 24%. The sleMen[ of F5[wlai Aalvlttes shows a gmwth UOtes fuThls of £8J31. Restiiaed funds have decjpased by an overall amount of £SI3. The Balance Shea 5h)ws lo1 awrent assets of £72.067 (2024 £63,338). Af lowIng for accnwls and crliioTS of £14,(6, net curreni asse atnount 10 £58.Tr)1 (2024 £50,183). There are no fixed assets. The rave$ of the charity imlude unrestrictrl of £51.f4Jl (2024 £43.270) of whÉch £I&IXO is desfft8naied for youth and commkmity actlvltie Reserns lItY The Thtee5 have recenily reviewfft ihe financial rt5erves wjlicy. B&sed on the incased level of ambition and quality of the fesiival in receni years, 0$5 the arti]c pr¢)8fdmme a1 the education and outstach offeting. the festival fmances are now more heavily de[deI on securing sub5taniial sums of 8Tants and SPDnsotship. Whilst the fesiival has been successful io de in ihis regard, the llee5 are con5CiOU5 that this Income stream is noL guaranteed and thai 5i8nificani re5erYe5 should mainlained io cover fluauaiions. The uusiees are also conscious ol (he financial commiunents asxKiad with f1val.5 retnullerated mles suth as Ihe anisiic dirffior aTwJ festival rnanager.
Baged on these conskdetiOLL% the injsiees have set aD In(re tarytt for fmancial resave& The largei is io mainthin totak reserves tyUivaie to S6 of the anDuai costs of the lesttvaL averagLYI over thtee prior years. This revised p)liLry was approved ai a Tn&ees Theetin8 in March 2026. Based on the new wlkcy and expendiiu)E totals over the 3 years 10 31 Augusi 2025. the targd reswves level Th)w Aands ai circa 64K. The aim is to build our Ipsee5 accordingly. The InleeS have examined the major Se&l( business a1 0altOn31 risks whidt the thariry faLY5 aTMI confim) thai syemS aye in ple to enable neces io iy mid8aie tLsk% Idendfie The truslees are resEx)Th%ible for txeTriring the Th&ees anual rep)rt and the finla1 STatements In acrordance with applicable law and the Charities SORP (FRS102). The Inlee$ are responsible for keeping pro coYnu8 record5 whith disclose wilh reasonable accur the rjnancial ry&sitÉon OE the (IritY and enable ihem ascenain thai the fuwKial 5wernenL% comply with the requirements. The IneeS are respThible for safe8wdinB the a55ets of the driry •MI for tsklng Yeaqonable Mep5 for the ptevenrion of fraud and other Inegularitl The wusiees declare thai they have approved the Siuned on I1[ ol ihe IM)anl 0fThee5 Full nam catheri Tnr (aka Kale Somffby) PosltSon Chalr Dale
BUDLEIGH MUSIC FEsrtVAL STATEME1 OF FINANCIAL AcfiviTIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR Ef4DED 31" AUGUST 2025 Total Fund Note 2025 2025 2025 2024 Incoming Resource5 Voluntary income .)1 52274 86.175 52.201 Charithble aaiviue5 70.567 70.567 63.475 Other income 2,142 2,142 2.711 Toial income 106.610 52.274 158.884 118.387 Raising funds 4594 4.594 Charitable auivities 92.028 51787 14M.815 118.(KKJ Governance costs 1,657 1.657 659 Ththl expendiuue 98.279 52,787 151.( 122,105 Net (Expendiiureytncome 8.331 -513 7.818 -3,718 Funds ai SeN 2024 43.270 6313 .183 53.901 Funds at 31st Augua 2025 S1.fA)i s8.1 50.183
BUDLEIGH MUSIC FESTIVAL BALANCE SHEET AS AT 31° AUGUST 2025 Fun(b Fund5 Notes 2025 2025 2025 2024 Current assets Cash at bank and in hand 46.289 7.425 53.714 57.898 Debtors 14.278 4,075 1&353 Tothl CYen¢ a55e 1.567 ii.yjo 72,067 63.338 Crediiors due within i)ne year io -5.1(K) -14.066 -13,155 NLY current assets 51.601 S8,1 50.183 Ttxal assets less liabiliue5 SI.EI 58.(KJi 50.183 Fundg of the ch•rity General reserves 3&(11 43.] 35,183 Desi8naied funds 15.(MYI 15,IKM) Totsl charity funds SI.1 s8.1 50,183 For the financial year ending 31 Augu 2025 the charity was entled io exempiion from audit UT]der section 477 of the Companies Act 2W6 re]aiing to small companies. Dirertors responsibiliies: ii) the members have not required the company to obtain an audit of its CoUnts for the year in question in accordance with seciion 476.. iii) the Trusiees acknowledge their responsibtliiy for complying with the requirements of the Companies Act 2¢Y)6 with resFeCt to accounting records and the preparaiion ol accounts. These financial statements have been PTepared in accordance with the provisions applicable to the companies subject to the Sall companies lme and FRS 102 'The Financial Reporting Standard Applicable in the UK and Republic of Ireland,. e boatd of Thistee5 On.. . si on their behalf by Jo eTine Turner (aka Ms K ie Somerby). tee Mr J Alpe. Treasurer and TnLStee
BUDLEIGH MUSIC FEsfivAL NOTES TO THE Accoupifs FOR THE YEAR ENDED 31" AUGUST 2025 l. Accollniing policies al General intOrn(lon The Chariry is a chariLible IOrporated organisauoo incowed in England and Wales. The athlress of its regIred office S We51 Terrace Budleigh Salterton. EX9 6LU b) Basls of accounting These accounts have been prepated under the historical convenuon with items Tecognis(ql at cost OT tran(lOn value, and in accordance with the 2019 Ststemeni of Recommended Practice.. "AccouDling aThJ ReiM)rtin8 by Charities" applicable to charities preparing their accounts in accordance with Financial ReF*)rtin8 SMndard 102 and the Chariues Act 2011. The acLounts preseni a tEue and fair view. and there have been no dwges in acc(MJntin8 p)licy since ihe previous reportin8 perio(L There are no material uncertainties that cast significant doubt on the chariiy's abiliry to contlrtue as a going concern. The accounts are pre5enied in wund sierling (£} and io the nearest pound (£). c) Income nco8nldon Income 15 recognised In the Statemeni of FiTrancial Activitles (SOFA) when the chariiy becomes entiiled to the resources it is more likely than not thai ihe Irusiees wlll receive the resources, and the monewy value can be measured with sufficient reliabiliiy. d) Grants recefvable Grants are recognised when the chariry has an eniidement to the funds and any conditions linked io the grants have Ixen meL Where perforniance corKtiuon5 are attached to the grani and are yet io be mei, the income 15 recognised as a liabiliry included on ihe balance sheei as deferred income io be released. d) Expendlture rtcognitlon All expenditure 15 Kcoiinted for on an accruals basis and has been classified under headings that aggregate all costs related to the caiegory. EXndItUre is recognised where ihere 15 a legal or consrwctive obligauon io payments to thlrd partie5. li is probable thai the settlement will be required, and the amount of the obligation can be rnea5ur reliably. e) Debton and credttory e1¥able}PaYabIe within one year Debtors alld crediiors with Th) SEaied Rnierell raie and receivable or payable within one year are recorded at iransaction price. Any losses arising from impainneni are recognised in expenditure.
D Golng concern The financial stsiements have been prepared on a going concern basis as the tnstees lIeVe that no aterIal uncertainties exisL The trus have considered the level of funds held and the expected level of income and expendilu for 12 months from authorising these financial statements. The budgeted income and eXnd1 is sufficient with the level of reserves for the charity to be able to continue as a going concem. 2. Fund accounting The Lknrestsicted funds held by the charity are funds which can be used in accordance with the charitable objects at the discretion of the thistees. Within these funds. an amouni of £15(MJO been deslgnated by the tneeS for delivery of education and outreach projects. Resiricted funds held by the charity are funds which have been grand or donated for specified purposes and may only be used accordingly. Typically. these late to FesuvaE COre[l5 and events or io wider prngramme5 such a5 educati( and community outreach. Restricted fund flows were as follow5 . Balance ai 01109r24 Balance at 31108125 Festival &tivity Income ExndItUTe Evening concens Dayrime concens Special evcnt5 1 ducation & outreach Fesiival Frie15 events 11.375 -11.375 12.261 27.438 1.2(K) -12.261 -27.951 -1.2(M) 6.913 Toul restricted funds 6.913 52.274 -52.787 3. Voluntary Income 2025 2024 Donations- unrestriaed 8,667 22.649 7.855 8.018 Grants- restricted Granis- unresuicwl 20.21KI StMJnsor5hip- n%tricted Sw)nsorship- iinrestricied Gift aid tax Yecovered- reMriLThl 2&2 20,620 71X) 1.375 2,555 Gift aid tax recovered- unrestritted 1,691 562 Payment5 for Friends even 86.175 52.201 Gifi aid lax recovered associated with restricted grants and s[Kit[Ship is treated as restricted fun(Ls these.accoun The iotal of restrirted grants & sponsorship atKI a55(Kiated gift aid for 2025 was £52,274. These funds were fully expended in the year. A small funher of £513 Telating to education & outreach acttvity has been met from Kesetves. io
- Income from Charitable aLlivits 2015 2024 Ticket revenue from fellivai events 67,926 E,958 Progrdmme sales Sales of refreshments 1.507 1.041 i.oio 70.567 &3.475 Ilcket revenue is rew)rted gross. befo b)x office and other transaaion charge5. Programme sales and sales refreshments were previously rewrted below under 'Other Income,. Following review by the Thtstee5, these sales are now included atN)ve as they a iniegral the festival aaiviue& Other Income 2025 2024 Advertising income Bank interest 1.265 1.227 Other 97 494 2.142 2.711 Ralslng Funds Funds were raised by holding events io which Friends were invited, including receptions in November and in June. The cosi of these evens is recorded in this line of (he accounts. together with related thinistration costs. ExpondiknuE on drible activldos 2025 2024 Direct costs of events 85.245 28,512 19,334 58.783 21,564 Indirea costs of events Advertisin8. PR. website, and brochure cos Other inditett costs 20.701 11.424 &592 Education and (tach programme IndependenE examination 420 144,815 118.(MX) The Educatitsn and Outreach progtamme is Th)w consideted by ihe Trnstee5 to be an integral part of the Feaival. The lated expilure faus across all the line5 aixwe and is no longer reported separately. li
Governance costs of £1,657 (2024- £659) inclllde insurance and other services. 9. Debtors 2025 2024 Gift aid tax receivable 4.240 1.2(KJ Grants & s$45h1p receivable Other debtors and payments in advance 14.7(X) 213 18,353 10. Credltors due wlthin one year 2025 2024 Royalties (PRS fees) Other crediiors 4,182 5.738 420 Accruals Deferred itKome 3.597 14.066 13.155 Deferred revenue for 2024 related to sponsorship for a postwned event, which instead ran in 2025. 11. Ttee$ tranwcdons Duiing the year Ms Somerby. Dr Keliher, and Mr Alpe were reimbursed for various expenses direc(ly incurred in the administration and delivery of the Fesuval. In iotsl the amounts were £326 for Ms Somerby) £90 for Dr Keliher, and 1448 for Mr Al. Ms SoMey. in her professional capacity a5 freelance music and drama specialis¢ wa5 paid £400 in October 2024 lor delivering workshops 10 Schools for the 2024 fO1Val, and £300 in July 2025 for delivering workshops to schools for the 2025 festival. No other Trustees were paid any remuneiaiion or benefits fro employment direaly or through a related entity durin8 the year. 12. ReLiied parry transacti The charity has nc* at any lime during rI{ Iwd any transactio8 wlth trustees and conneaed parties. other than as di105ed ate. 12