Charity Number:
1109991
CHIPPING CAMPDEN MUSIC FESTIVAL
UNAUDITED REPORT AND ACCOUNTS
FOR THE YEAR ENDED 30 JUNE 2025
Chipping Campden Music Festival
Contents Page
Pages 1 - 3 - Trustees Report
Page 4 - Independent Examiners Report
Page 5 - Statement of Financial Activities
Page 6 - Balance Sheet
Pages 7 - 9 - Notes to the Financial Statements
Chipping Campden Music Festival Trustees' report for the year ended 30 June 2025
Prior Period
As noted in our report on the period ended 30 June 2024, prior to that period-end the trustees resolved to change the annual reporting date from 31 December to 30 June. The prior period ended 30 June 2024 was therefore only a six-month period. Throughout this Report the six month period ended 30 June 2024 is referred to as 2024, and the year ended 30 June 2025 as 2025.
Objectives and Activities
The objectives of the Charity remain the promotion and arrangement of concert performances, literary events and music education activities. The principal activities during the year ended 30 June 2025 were the music festival and literature festival held over three weeks during May 2025, the launch of a music education project in local schools, a production of “Waiting for Godot” in April 2025, and support for the Community Choir. A key element of the Music Festival each year is the formation, for the second week of the festival, of the Academy Orchestra, which teams young musicians embarking on a professional career with experienced professionals. The Charity also looks to collaborate with local groups including schools to encourage young musicians.
The 2025 Festivals
The literature festival continues to grow its reputation, showcasing a range of fiction and nonfiction titles. The plans for 2026 are to continue growing the festival through events involving interesting speakers and books and promoting the festival more widely.
The standard of performances throughout the music festival continues to be very high, and the focus of the trustees continues to be on maintaining the high level of musical performance which has been the hallmark of the festival to date. The total audience for the music festival in May 2025 was again over 4,300 (2024 just over 4,300), including some concerts that were in practice sellouts.
The financial results are commented on below.
The Education Programme
Due to the generosity of a local supporter who has funded the programme for this year and next, the Charity has been able to establish a substantive programme of support for children and young people in local schools. The programme sets out to develop the students’ learning of musical instruments and group performance, leading to performances of pieces specifically adapted for the purpose. We are fortunate in that another generous supporter has committed support to the programme going forward.
Financial Review
Activity during the period 1 July to 31 December each year has previously been limited to planning and preparation for subsequent festivals. Income receivable during that period has
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been immaterial, and costs incurred mainly in relation to the services of the Artistic Director and the Festival Director. In 2025 there has been more education-related activity during the period as the education projects grow. However, for the purposes of the financial elements of this Annual Report, a fair presentation is achieved by simply comparing the year ended 30 June 2025 with the six months ended 30 June 2024, while recognising that the higher surplus for 2024 is significantly attributable to six months’ less of Direction costs being included in that shorter period.
The total income for 2025, including ticket sales, sponsorship and donations, advertising income, and grants, was £412,000 (2024 £330,000). The income from charitable activities (essentially ticket and programme sales) was £208,000 (2024 £185,000), with the remaining income being donations, including related gift aid, of £201,000 (2024 - £143,000) and interest income of £3,000 (2024 - 2,000). £31,000 of the donations for 2025 were restricted for education projects.
Payments to artists totalled £207,000 including £17,000 relating directly to the education programme (2024 - £150,000).Total costs for 2025 were £402,000, including £31,000 from the restricted education programme fund (2024 - £274,000), leaving a surplus of £10,000 for 2025 (2024 - £56,000).
The trustees have always sought to hold ticket prices as low as possible and also to provide heavily discounted tickets for students. However, it is not possible to put on concert performances of the highest quality at such ticket prices without significant support from the patrons and friends of the festival. Although we are fortunate to have a very faithful body of patrons and friends, the precise level of financial support varies from year to year. The mediumterm trend is for support from patrons and friends to comprise between 30% and 50% of the charity's total income. The trustees seek to maintain this high level of support by keeping patrons and friends informed and involved and maintaining the highest quality of concerts and other events, which is what our supporters tell us they value most. The Charity carries forward unrestricted reserves totalling £279,000 at 30 June 2025. Reserves and Investment policy The reserves of £279,000 are represented by £17,000 in respect of the outstanding funding originally provided to the subsidiary company to purchase the piano used by the Charity, with almost all the remainder represented by cash in the trust's bank accounts. Excluding the funding to the subsidiary company, the reserves are equivalent to 65% (2024 - 91%) of the Charity’s core costs and continue to provide a reasonable measure of security for the Charity.
The trustees have continued to keep under review the level of surplus it is appropriate for the Charity to accumulate. In so doing, the trustees reference two broad aims, both forward looking. The first of these is the desirability of the festivals being able to continue forward in the face of an uninsurable event causing cancellation and the resulting loss of ticket income with which to settle liabilities to artists. The second is the desirability of the Charity being able to continue in the pursuit of its educational objectives without having to rely on public funds whose focus may change from year to year. Bearing these aims in mind, the trustees have continued to determine as an appropriate long-term target, reserves being 100% of core costs.
While the level of reserves continues to be below this level, the trustees are comfortable with the position and will continue to review the target each year.
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In the context of the purposes for which reserves are held, the trustees have determined that the investable assets which represent the reserves should be easily realisable and low risk, and all are therefore held in the form of short-term deposits and a current account.
Structure, Governance and Management
The charity is governed by a trust deed under which trustees are appointed. The charity is an unincorporated association. Trustees meet periodically as required but at least four times each year. New trustees can be appointed by the existing trustees. No other body or person has any rights to appoint trustees,
Both the Artistic Director and the Festival Director with primary responsibility for operational management, whose appointments were reported in our previous Report, have continued in post, supported by administrative assistance at peak activity times. Both the Artistic Director and the Festival-Director have been involved with the festival for many years.
The festival is also supported by a team of volunteers, particularly during the festival period in May, many of whom have also been involved for many years,
Reference and Administrative details
Name: Chipping Campden Music Festival
Status: Charitable Trust Charity Registration No: 1109991
Principal Address: The Old Police Station, High Street, Chipping Campden, Gloucestershire Trustees during 2025:
Arthur Cunynghame
David Roberts Ailsa Scott Suzanne Smith
The trust is a registered charity and makes returns to the Charity Commission accordingly. The trust's charitable status enables it to reclaim gift aid on certain amounts received from friends and patrons.
David Roberts is a director of the charity's subsidiary company, CCMF Piano Limited, whose sole asset is the Steinway piano used by the festival, and whose sole activity is providing that piano for hire.
APPROVED BY THE TRUSTEES on !6April 2026
Signed: Vy
David Roberts (Trustee)
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INDEPENDENT EXAMINER’S REPORT
Report to the Trustees of Chipping Campden Music Festival (charity number 1109991)
On the accounts for the year ended 30 June 2025 set out on pages 5 to 9
| report to the trustees on my examination of the accounts of the above charity for the year ended 30 June 2025.
Responsibilities and basis of report
As the charity's trustees, you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (“the Act”).
| report in respect of my examination ofthe Trust’s accounts carried out under section 145 of the 2011 Act and in carrying out my examination, | have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
Independent Examiner's statement
The charity’s gross income exceeded £250,000 and | am qualified to undertake the examination by being a qualified member of[the][Association][of][Chartered][Certified] Accountants.
| have completed my examination. | confirm that no material matters have come to my attention in connection with the examination which gives me cause to believe that in, any material respect:
the accounting records were not kept in accordance with section 130 of the Charities Act; or
the accounts did not accord with the accounting records; or
the accounts did not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 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.
| have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a preper understanding of the accounts to be reached.
/\, , Signed: Date: [bOY x et b Daniel James Colwell FCCA CTA ATT Daniel Colwell & Co Chartered Certified Accountant
Signed:
Page 4
CHIPPING CAMPDEN MUSIC FESTIVAL
Year Ended 30 June 2025
Section A Statement of financial activities (including summary income and expenditure account)
| Rteatea | U | tricted nrestricte funds |
trict Restricted funds |
E | ndowmen funds |
t | Total turds | aera | ||
|---|---|---|---|---|---|---|---|---|---|---|
| £ | £ | £ | £ | £ | ||||||
| Income | ||||||||||
| Donations and legacies | 2 | 170,454 | 30,515 | - | 200,969 | 143,108 | ||||
| Charitable activities | 207,644 | - | - | 207,644 | 184,716 | |||||
| Investments | 3,362 | - | - | 3,362 | 2,308 | |||||
| Total | 381,460 | 30,515 | - | 411,975 | 330,132 | |||||
| Expenditure | ||||||||||
| Charitable activities | 3 | 371,272 | 30,515 | - | 401,787 | 273,855 | ||||
| Total | 371,272 | 30,515 | - | 401,787 | 273,855 | |||||
| Net income/(expenditure) before tax for | ||||||||||
| the reporting period | 10,188 | (0) | - | 10,188 | 56,277 | |||||
| Tax payable | - | - | - | - | - | |||||
| Net income/(expenditure) after tax | ||||||||||
| before investment gains/(losses) | 10,188 | (0) | - | 10,188 | 56,277 | |||||
| Net gains/(losses) on investments | - | - | - | - | - | |||||
| Net income/(expenditure) | 10,188 | (0) | - | 10,188 | 56,277 | |||||
| Other gains/(losses) | - | - | - | - | - | |||||
| Net movement in funds | 10,188 | (0) | - | 10,188 | 56,277 | |||||
| Reconciliation offunds: | ||||||||||
| Total funds brought forward | 268,429 | - | - | 268,429 | 212,152 | |||||
| Totalfundscarriedforward | 278,617 | (0) | - | 278,617 | 268,429 |
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CHIPPING CAMPDEN MUSIC FESTIVAL
As At 30 June 2025
| Section B | Balance | sheet | sheet | |||||||
|---|---|---|---|---|---|---|---|---|---|---|
| Nuit | i Unrestricted funds |
tri Restricted funds |
E | ndowment funds |
Total | 3024 | ||||
| £ | £ | £ | £ | £ | ||||||
| Fixed assets | ||||||||||
| Investments | 4 | 1 | - | - | d. | 1 | ||||
| Current assets | ||||||||||
| Debtors | 5 | 16,819 | - | - | 16,819 | 17,439 | ||||
| Cash at bank and in hand | 6 | 303,045 | (0) | - | 303,045 | 285,949 | ||||
| Total current assets | 319,864 | (0) | - | 319,864 | 303,388 | |||||
| Creditors | 7 | 41,248 | - | - | 41,248 | 34,960 | ||||
| . | ||||||||||
| Net current assets | 278,616 | (0) | - | 278,616 | 268,428 | |||||
| Total assets less current | ||||||||||
| liabilities | 278,617 | (0) | - | 278,617 | 268,429 | |||||
| Provisions for liabilities | - | - | - | - | - | |||||
| Total net assets or liabilities | 278,617 | (0) | . | 278,617 | 268,429 | |||||
| Funds of the Charity | ||||||||||
| Unrestricted funds | 278,617 | (0) | - | 278,617 | 268,429 | |||||
| Totalfunds | 278,617 | (0) | : | 278,617 | 268,429 |
Signed by a trustee on behalf, of all the trustees
David Roberts
Ll Nped Qo
Date
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CHIPPING CAMPDEN MUSIC FESTIVAL
Year Ended 30 June 2025
Section C Notes
1 Accounting Policies
a) Basic of preparation. These accounts have been prepared on an accruals basis and include income and expenditure as they are earned or incurred, rather than as cash is received or paid. The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland issued in October 2019, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102), the Charities Act 2011, and UK Generally Accepted Accounting Practice.The accounts include all the transactions, assets and liabilities for which the Charity is responsible in law. The Charity constitutes a public benefit entity as defined by FRS 102.
b) Income. Voluntary income, including donations, gifts and grants are recognised where there is entitlement, certainty of receipt and the amount can be reliably measured. Voluntary income is deferred where the donor has specified that the donation or grant must be used ina future accounting period. Income from charitable activities is recognised as earned through the provision of goods and services. Income is deferred where admission fees or performance related grants are received in advance of the performances or events to which they relate.
c) Expenditure. Expenditure is recognised whena liability is incurred.
d) Interest receivable. Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the Bank.
e) Debtors. Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.
f) Cash at bank and in hand. Cash at bank and in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.
g) Creditors. Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.
h) Going Concern. The Trustees are satisfied that the Festival has adequate reserves and that the forecasts for the next twelve months and beyond are suitably positive for the accounts to be prepared on a going concern basis.
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| TineoHiE | Unrestricted funds |
Restricted funds |
Endowment funds |
Total funds | s00A |
|---|---|---|---|---|---|
| £ | £ | £ | £ | £ | |
| Donations and legacies | |||||
| Donations and gifts | 145,396 | 24,562 | - | 169,958 | 123,670 |
| Gift Aid | 25,058 | 5,953 | - | 31,011 | 19,438 |
| 170,454 | 30,515 | - | 200,969 | 143,108 | |
| Charitable activities | |||||
| Ticket sales, programmes and | |||||
| membership | 205,734 | - | - | 205,734 | 181,856 |
| Advertising Income | 1,910 | - | - | 1,910 | 2,860 |
| Other | - | - | - | - | - |
| Total | 207,644 | - | - | 207,644 | 184,716 |
| Interest income | 3,362 | - | - | 3,362 | 2,308 |
| TOTALINCOME | 381,460 | 30,515 | 411,975 | 330,132 | |
| 8Expenditure | Unrestricted funds |
Restricted funds |
Endowment funds |
Total funds | 5004 |
| £ | £ | £ | £ | £ | |
| Expenditure on charitable activities | |||||
| Artists | 189,334 | 17,414 | 206,748 | 150,060 | |
| Promotion and Direction | 93,153 | 8,170 | 101,323 | 53,075 | |
| Equipment and Venue Hire | 47,456 | 4,910 | 52,366 | 37,555 | |
| Programmes and tickets | 20,178 | - | 20,178 | 47,422 | |
| Administration and associated costs | 21,152 | 21 | 21,173 | 16,043 | |
| Total | 871,272 | 30,515. | - | 401,787 | 273,855 |
| Unrestricted funds |
Restricted funds |
Endowment funds |
Total funds | 9024 | |
| £ | £ | £ | £ | £ | |
| Analysis ofexpenditure on charitable | |||||
| activities | |||||
| Music Festival | 277,181 | 277,181 | 226,761 | ||
| Literature Festival | 78,229 | 78,229 | 41,321 | ||
| Chorus | 15,862 | 15,862 | 5,774 | ||
| Education Program | 30,515 | 30,515 | 5,774 | ||
| Total | 371,272 | 30,515 | - | 401,787 | 273,855 |
| 4 Investments | 2025 | 2024 | |||
| £ | £ | ||||
| Investment in CCMF Piano Ltd | 1 | 1 | |||
| 5 Debtors | |||||
| 2025 | 2024 | ||||
| £ | £ | ||||
| Prepayments and accrued income | 300 | - | |||
| Other debtors | 16,519 | 17,439 | |||
| Total | 16,819 | 17,439 |
All debtors are recoverable in less than one year
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|
6 Cash
Short term deposits Cash at bank and on hand Total
2025 2024 £ £ 296,524 277,318 6,521 8,631 303,045 285,949
7 Creditors
Accruals and deferred income Other creditors Total All creditors fall due within one year 8 Trustees The trustees receive no remuneration. Expenses of £404 were paid to Ailsa Scott
2025 2024 £ £ 29,854 23,566 11,394 11,394 41,248 34,960
9 Deferred Income
Movement in deferred income account 2025 2024 £ £ Balance at the start of the reporting period - 61,860 Amounts added in current period - - Amounts released from previous periods - (61,860) Balance at the end of the reporting period 5 - Examniners Fee 2025 2024 £ £ 1,500 1,500
10 Independent Examniners Fee
11 Taxation
The charity is registered for gift aid which it claims on qualifying donations. The charity is not registered for VAT. The charity is not liable for Corporation Tax in the year under review.
12 Employees
The charity did not have any employees in the year under review.
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