``` REGISTERED COMPANY NUMBER: 05976080 (England and Wales) REGISTERED CHARITY NUMBER: 1117355 ``` ## **`REPORT OF THE TRUSTEES AND`** ``` UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025 FOR ``` ``` RYEDALE FESTIVAL TRUST LIMITED ``` ``` UHY Calvert Smith Chartered Accountants Heritage House Murton Way Osbaldwick York North Yorkshire YO19 5UW ``` ``` RYEDALE FESTIVAL TRUST LIMITED ``` ``` CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025 ``` **----- Start of picture text -----**
Page
Chairman's Report 1
Report of the Trustees 2 to 7
Independent Examiner's Report 8
Statement of Financial Activities 9
Balance Sheet 10 to 11
Notes to the Financial Statements 12 to 21
**----- End of picture text -----**
``` RYEDALE FESTIVAL TRUST LIMITED ``` ``` CHAIRMAN'S REPORT FOR THE YEAR ENDED 31 AUGUST 2025 ``` ``` Duringthe year,the Festivalcontinuedto pursue,withgreatsuccess,its core missionof bringinggreatmusicand the arts to communitiesacrossRyedaleandwiderNorthYorkshire.The year was markedby strongaudience engagement and a sense of momentum across all aspects of the Festival's artistic and organisational work. ``` ``` TheFestivalcontinuestoenjoyenormoussupportandgoodwillfromitsloyalandenthusiasticaudiences,the warm supportoflocalcommunities,andastrongnationalandinternationalreputationfortheexcellence and distinctivenessofitswork.Anumberofimportantinitiativescontributedtothisprogress,includingthe continued developmentoftheWaverleyYoungArtistsprogramme,newartisticpartnerships,andawidening geographical footprintacrossNorthYorkshire.ThesedevelopmentsreflectaFestivalthatisconfidentinitsartisticdirection while remaining responsive to the communities it serves. ``` ``` A key factorbehindourcontinuedsuccesswas once againthe creativevisionandinspiredprogrammingof our highly regardedArtisticDirector,ChristopherGlynn,whoalsocontinuedto providetheFestivalwithoutstanding leadership of our brilliant management team. ``` ``` This is my final report as Chairman,as I retired in October 2025 after five years in the role and ten years as a Trustee. It hasbeenwonderfultoseetheFestivalflourishduringthattime,whilealwaysstayingtruetoitsartisticvalues. My successorisEdAnderson,previouslyDeputyChairmanandChairoftheFinanceCommittee.Heissupportedby a Boardof Trusteesthathasbeenstrengthenedby new appointmentsin recentyears,providingcontinuity, experience and renewed capacity as the Festival looks ahead. ``` ``` Geoff Potter 29.11.25 ``` ``` -1- ``` ``` RYEDALE FESTIVAL TRUST LIMITED ``` ``` REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 AUGUST 2025 ``` ``` TheTrustees,whoarealsodirectorsofthecharityforthepurposesoftheCompaniesAct2006,presenttheir report with the financial statements of the charity for the year ended 31 August 2025. ``` ``` The charity is also known as The Ryedale Festival. ``` ## **`OBJECTIVES AND ACTIVITIES`** ## **`Objectives and aims`** ``` Thecharity'sobjectivesaretopromote,improve,developandmaintainpubliceducationin,andappreciationof, the art and science of music, drama and the performingarts in all their aspects by the presentationof publicconcerts and recitals and by such other ways as the charity through its committee shall determine from time to time. ``` ``` Wereviewouraims,objectivesandactivitiesineachfinancialperiod.Thereviewlooksatwhatwe haveachieved in thepreviousfinancialperiod.Thereviewlooksatthesuccessofeachactivityandthebenefitstheyhavebrought to thosepeoplewe aimtohelpandhelpsus toensureouraims,objectivesandactivitiesremainfocusedonour stated purpose.WehavereferredtotheguidanceintheCharityCommission'sgeneralguidanceonpublicbenefit when reviewing our objectives and aims in planning future activities. ``` ``` Allcharitableactivitiesfocusonachievingtheaimsstatedaboveandareundertakentofurtherthe charitable purposesfor the publicbenefit.The Trusteeshave had due regardto guidancepublishedby the Charities Commission on public benefit. ``` ``` Volunteers are vital in assisting with the income generating activities of the Charity. ``` ## **`ACHIEVEMENTS AND PERFORMANCE`** ``` TheFestivalcontinuedtoshowstrongmomentumin2025,withrecordticketsalesandwellover1,000 people attendingforthefirsttime.Thisgrowthwasespeciallysupportedbyactivityinnewareasofthecounty- including Skipton,Northallerton,RiponandSelby- as well as severalnewlyaddedvillagevenues,bringingthe Festivalto many people who had not experienced it before. ``` ``` At the heart of this momentum is an artistic model built around three connected commitments: ``` ``` First,tobringinternationallyrecognisedartiststobeautifulandhistoricvenuesacrossNorthYorkshire.This year's programmefeaturedartistssuchas Jess Gillam,EricWhitacre,VOCES8,StephenHough,TimothyRidout,Kate Rusby, Dame Harriet Walter, Arcangelo and the Royal Liverpool Philharmonic, among many others. ``` ``` Second,tobreaknewartisticground,demonstratedthroughamajorprojecttorevivelong-neglectedworks by Tippett,theworldpremiereofPhilipWilby'sorchestrationofArthurBliss'sViolaSonata,anexperimentalevent with poet Caroline Bird, and a significant co-commission developed in partnership with Britten Pears Arts. ``` ``` Third,tocreateopportunitiesateverylevel,seenintheWaverleyYoungArtistsScheme,anongoing collaboration withBBCNewGenerationArtists,andawidevarietyofparticipationinitiatives- from'SongsThatMove',for people with Parkinson's and other neurological conditions, to family workshops and 'Come and Sing' events. ``` ``` SupportedbytheUK SharedProsperityFund,anewSpringFestivalfurtherwidenedparticipationandattracted high levels of engagement across the region. ``` ``` The 2025 AudienceSurveyfoundthat 91% of festival-goersratedtheirexperienceas "excellent"or "very good", while welloverhalfjudgedRyedale"better"or"muchbetter"thanotherUK classicalmusicfestivals.Usingthe established multiplierfrom the independent2024 economicimpact assessment,this year's activityis estimatedto have generated well over £1.5m for the regional economy. ``` ``` Together,theseachievementsreflectaFestivalthatisgrowinginreach,deepeningitsimpactandstrengthening its role in the cultural life of North Yorkshire. ``` ``` -2- ``` ``` RYEDALE FESTIVAL TRUST LIMITED ``` ``` REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 AUGUST 2025 ``` ## **`FINANCIAL REVIEW`** ## **`Investment Policy and Objectives`** ``` TheBoardholdsexcessfundsinaselectionofinterest-bearingcashdepositaccounts.Currentholdingswill be reviewed to optimise investment returns in an accessible form consistent with the operating needs of the Company. ``` ## **`Financial performance`** ``` Thefinancialenvironmentforartsorganisationscontinuestohaveitschallengesbutdespitethis,the underlying operatingperformanceof the Festivalhas remainedconsistentand robust.We achievedrecordticketsales across the festival which included venues on our regular circuit and new additions in Skipton, Northallerton and Ripon. ``` ``` The Festival'sfinancialpositionin 2025 was supportedby a combinationof earned income, donationsfrom individuals andtrusts,andproject-basedpublicfunding.ThisincludedsupportfromArtsCouncilEnglandthroughitsGrants for the Arts programme, alongside a grant from the UK Shared Prosperity Fund. ``` ``` Wehaveagenerousandloyalsupportbaseinourmembers,individualdonors,supportersandcoreaudiences. Our challengeis togrowthissupportbaseandengagea newgenerationof festivalparticipantsandattendees.There are plentyof opportunitiesfor us to do so with the varied artisticoffer and communityengagementprogramme.This year wewelcomeddonationsfromanumberofTrustsandFoundations,somefirsttimedonors.Inalphabetical order gratefulthankstoTheLizandTerryBramallFoundation,TheBlissSociety,TheBlissTrust,CalmcottTrust,R E ChadwickCharitableTrust,MainzCharitableFoundation,ThePatricia&DonaldShepherdCharitableTrust, The Michael Tippett Musical Foundation, Troutsdale Trust and the Waverley Fund. ``` ``` In the 2023-24financialyearwe recognisedin fullthe £90,000grantawardfromthe UK SharedProsperityFund with expenditureforactivityspanningtwofestivalyears.Inaddition,adonationof£68,500tosupportthe2025 festival wasreceivedinAugustlastyearandincludedintheAugust2024financialstatementstocomplywith accounting policies.Expenditurerelatingtothesetwofundingsourceshasbeenincurredinthe2025festival,which partly explainsthe net expendituredeficitof £110.5kin 2025comparedto a net surplusof £27kin 2024.Goingforward we anticipate income to be more aligned with expenditure and matched to the financial year of receipt. ``` ``` Overthelastthreefinancialyearsifwetakeintoaccountthesmoothingeffectofgrants/donationsreceived in advanceoftherelatedexpenditure,thefestivalhasmaintainedreservesintheregionof£100k.Thisactsas a reasonablebufferbutinnowayaretheTrusteescomplacent.Inpreparingthe2025-26budgetweareaiming to break-evenbut this does depend on achievinga robustfundraisingtarget and the continuinggenerosityof donors and supporters.TheBoardiscreatinganewDevelopmentCommitteetoensurethatfundraisingisakeypriorityfor the future growth and sustainability of the Festival. ``` ## **`VAT`** ``` TheFestivalisVATregistered,chargingVAToncertainincomesourcessuchasmembershipfeesandbarsales. The main Festivalincome,ticket sales, comes underthe 'CulturalExemption'scheme for VAT and no VAT is includedin the price.The effect of thisis thatthe Festivalcan onlypartiallyrecoverthe VAT thatit incursbasedon a % recovery rate relativetoitsVATablesupplies.Duringthecourseoftheyear£32.9kwaschargedtotheprofitandlossaccount for irrecoverable VAT. ``` ## **`Income`** ``` In preparingthe financialstatementsin accordancewith the CharitiesSORP, as explainedin our accountingpolicies on page 12, we are requiredto recogniseincomewhere the conditionsof entitlement,probabilityandmeasurement are satisfied.This means that for a number of our donationsand grants,where not dependenton meeting specific service conditions,we arerequiredtorecogniseincomethathasbeenpledgedaheadof whenitwillbe actuallyreceived by the charity; and in the case of some multi-year grants, significantly ahead. ``` ``` Inthe2025financialyear£nilofdonations(2024:£68K)wasreceivedforfuturefestivalsand£nilofgrants (2024: £60k) was recognised for future festival expenditure. ``` ``` -3- ``` ``` RYEDALE FESTIVAL TRUST LIMITED ``` ``` REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 AUGUST 2025 ``` ## **`Reserves policy`** ``` The Company'sReserves policyhas been to aim to buildup reserves to a level which meets the Festivalevent costs for theforthcomingFestivalandalsotoenableanorderlywindingdownof theFestivalshouldtheBoarddecideon that actionat any time in the Festival'syear.The Boardhas agreedto keep thispolicyunderreview in lightof the current financial climate and structural and contractual obligations of the Festival. ``` ## **`STRUCTURE, GOVERNANCE AND MANAGEMENT`** ## **`Governing document`** ``` Ryedale Festival Trust Limited is a charitablecompanylimited by guaranteegovernedby its Memorandumand Articles of Association. It is registered with the Charity Commission. ``` ## **`Recruitment and appointment of new trustees`** ``` There shall be at least three Trustees and the maximum number of Trustees shall be twelve. ``` ``` AllTrusteesareappointedfora fixedtermof threeyears.At theexpiryof theirFirstThreeYearTerm,a Trustee may be appointedfora secondfixedterm of threeyears.At the expiryof theirSecondThreeYear Term a Trusteeshall be requiredtostanddownfromofficeforaperiodofatleastoneyearfromtheendoftheirSecondThreeYear Term beforetheycanstandforreappointmentunlesstheTrusteesresolvethatbecauseofexceptionalcircumstances a Trustee may be reappointed for a third, and final, fixed three year term. ``` ``` InOctober2025theTrusteesconfirmedtheirintentiontoamendtheArticlesofAssociationtoallow, exceptionally, forTrusteeserviceinperpetuityshouldtheBoardresolveinrelationtoeachindividualcase,thatitwould be detrimentalto the Trust to lose the individual'sskill and experience.In December 2025 Trustees agreed new wording; the amendment process is now in train and expected to take effect early in 2026. ``` ``` The Trusteesmay at any time appointa new Trusteeto fill a casualvacancyand the term of officeof the new Trustee soappointedshallcontinueforaperiodofthreeyearsaftertheappointmentofthenewTrusteetothe casual vacancy. ``` ``` This year we were pleasedto welcome two new trusteesto the Board,Jenny Share (from 1 September2024) and Alan Davey (from 1 December 2024). ``` ``` TheFinanceCommittee,chairedbyEdAnderson,continuedtomeetquarterlytoscrutinisetheFestival's finances, submitting its minutes and recommendations, including a Risk Register, to the wider Board. ``` ``` TheNominationsCommittee,chairedbyAlisonSnell,continuedtomeetregularlytoplantrustee succession, includingthatoftheChairman,andreviewpotentialrecruits,submittingitsminutesandrecommendationsto the Board. ``` ``` The trusteestakeseriouslytheirresponsibilitieswithregardto HealthandSafety.The roleof trusteeleadfor Health andSafetyis nowheldbyJennySharewhochairsa HealthandSafetyGroupwhichincludestheArtisticDirector and FestivalProducerinitsmembership.TheTrusteeBoardhasapprovedaHealthandSafetyFrameworkto ensure effectiveoperationandreportingofhealthandsafetyarrangements.Thisframeworkincludesregularreports from theHealthandSafetyGroup,anannualreportonhealthandsafetytotheTrusteeBoardaswellasformal annual review and approval by the Board of the Health and Safety Policy. ``` ``` -4- ``` ``` RYEDALE FESTIVAL TRUST LIMITED ``` ``` REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 AUGUST 2025 ``` ## **`STRUCTURE, GOVERNANCE AND MANAGEMENT Organisational structure`** ``` The charity is organised as an independent festival, under the overall control of a Board of Trustees. ``` ``` TheBoardappointsanArtisticDirector,whoseroleistoprovideartisticandstrategicleadershipfortheFestival. He leadsa team of staffwho manageall operationalaspectsof the festival,supportedby a largeanddedicatedgroup of volunteers. ``` ``` The festival'sactivitiesare geared towardsthe two-week Summer Festival period,but also encompassa Spring Festival and standalone events through the year. ``` ## **`Staff and volunteers`** ``` The newly structuredmanagementteam successfullydelivereda logisticallycomplexfestivalacrossa wide geographic areawithgreatskillanddedication.Theywereassistedtirelesslyandskilfullybyagroupofover100 volunteers, without whose efforts the Festival would not be possible. ``` ## **`Awards and recognition`** ``` The 2025Festivalreceivedwideandappreciativecoverage.The Times notedthat"theRyedaleFestivalhas expanded greatlyinrecentyears…offeringahealthyvarietyofmusicinsomeofthecountry'smostbeautifulbuildings." The YorkshirePost observedthat"Ryedaleis now recognisedas one of Europe'spremierfestivalsof its kind",while Music OMHwrotethat"asalways,theRyedaleFestivaljustkeepsonofferingusperfectionintermsofsetting and performers." ``` ``` A YorkshirePostop-edalsoreflectedontheFestival'sartisticambitionanditsgrowingcontributiontoculturallife in North Yorkshire. ``` ``` FiveconcertswererecordedforbroadcastbyBBCRadio3,extendingtheFestival'sreachtonationalaudiences and amplifying the work of its artists and partners. ``` ## **`Outlook`** ``` Lookingahead,theFestivaliswellpositionedtobuildonthestrengthsof2025.Ourventuresintonewareasof the county,theriseinfirst-timeattenders,andthesuccessofboththeSummerandSpringFestivalsprovidea strong foundation for continued audience development. ``` ``` The commitmentsthatshapeourartisticmodel- attractingleadingartists,advancingnew artisticworkand widening opportunities- will remain central as we develop future seasons. Investmentin young musiciansthroughthe Waverley YoungArtistsScheme,strengthenedpartnershipswithBBCNewGenerationArtists,anddeeperengagement with community groups will continue to nurture talent and widen access. ``` ``` Supportedbysustainedaudienceenthusiasm,excellentnationalrecognitionandtheinvaluablecontributionof our volunteers,theFestivalentersthecomingyearwithconfidence,purposeandacontinuedcommitmentto share outstanding music-making with the widest possible audience. ``` ## **`REFERENCE AND ADMINISTRATIVE DETAILS`** ## **`Registered Company number`** ``` 05976080 (England and Wales) ``` ## **`Registered Charity number`** ``` 1117355 ``` ``` -5- ``` ``` RYEDALE FESTIVAL TRUST LIMITED ``` ## **`REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 AUGUST 2025`** ## **`Registered office`** ``` The Memorial Hall Potter Hill Pickering North Yorkshire YO18 8AA ``` ## **`Trustees`** ``` G Potter - Chairman until date of resignation (resigned 20 October 2025) ``` ``` E J S Anderson - Deputy Chairman, Chairman from 20 October 2025 ``` ``` H M Dobson - Treasurer ``` ``` Y S Ali A Beaumont Ellis A Davey (appointed 1 December 2024) A R H Grace Reverend Canon Dr V L Johnson T Schmidt J E Share (appointed 1 September 2024) A J Snell ``` ``` During the year the company paid £983 (2024: £1,078) in respect of Trustee Indemnity Insurance. ``` ## **`Secretary`** ``` J E Share (appointed 20 October 2025) G Simpson (appointed 1 May 2024, resigned 20 October 2025) ``` ## **`Independent Examiner`** ``` UHY Calvert Smith Chartered Accountants Heritage House Murton Way Osbaldwick York North Yorkshire YO19 5UW ``` ## **`Bankers`** ``` HSBC 27 Market Place Malton North Yorkshire YO17 7LU ``` ## **`Solicitors`** ``` Gerry Morrison C\o Wilkin Chapman Rollits Forsyth House Alpha Court Monks Cross York North Yorkshire YO32 9WN ``` ``` -6- ``` ``` RYEDALE FESTIVAL TRUST LIMITED ``` ``` REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 AUGUST 2025 ``` ``` This reporthas been preparedin accordancewith the specialprovisionsof Part 15 of the CompaniesAct 2006 relating to small companies. ``` ``` Approved by order of the board of trustees on 9 January 2026 and signed on its behalf by: ``` ``` E J S Anderson - Trustee ``` ``` -7- ``` ``` INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF RYEDALE FESTIVAL TRUST LIMITED ``` ## **`Independent examiner's report to the trustees of Ryedale Festival Trust Limited ('the Company')`** ``` I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 August 2025. ``` ## **`Responsibilities and basis of report`** ``` As the charity'strusteesof the Company(andalsoits directorsfor the purposesof companylaw)youare responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act'). ``` ``` Having satisfiedmyself that the accountsof the Companyare not requiredto be auditedunder Part 16 of the 2006 Act andareeligibleforindependentexamination,Ireportinrespectofmyexaminationofyourcharity'saccounts as carriedoutunderSection145oftheCharitiesAct2011('the2011Act').IncarryingoutmyexaminationI have followed the Directions given by the Charity Commission under Section 145(5) (b) of the 2011 Act. ``` ## **`Independent examiner's statement`** ``` Since yourcharity'sgross incomeexceeded£250,000yourexaminermust be a member of a listedbody.I can confirm thatI am qualifiedto undertakethe examinationbecauseI am a member of the Instituteof CharteredAccountants in England and Wales, which is one of the listed bodies. ``` ``` Ihavecompletedmyexamination.Iconfirmthatnomattershavecometomyattentioninconnectionwith the examination giving me cause to believe: ``` `1. accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or` `2. 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` `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)).` ``` Ihavenoconcernsandhavecomeacrossnoothermattersinconnectionwiththeexaminationtowhich attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. ``` ``` H Priest FCA The Institute of Chartered Accountants in England and Wales ``` ``` UHY Calvert Smith Chartered Accountants Heritage House Murton Way Osbaldwick York North Yorkshire YO19 5UW ``` ``` 28 January 2026 ``` ``` -8- ``` ``` RYEDALE FESTIVAL TRUST LIMITED ``` ## **`STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING AN INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 AUGUST 2025`** |`Unrestricted`
`fund`
`Notes`
`£`
**`INCOME AND ENDOWMENTS FROM`**
`Donations and legacies`
`3`
**`142,710`**
**`Charitable activities`**
`6`
`Festival events`
**`263,303`**
`Other trading activities`
`4`
**`15,126`**
`Investment income`
`5`
**`2,120`**
**`Total`**
**`423,259`**
**`EXPENDITURE ON`**
**`Raising funds`**
`Raising donations and legacies`
`7`
**`10,312`**
`Other trading activities`
`8`
**`3,084`**
**`13,396`**
**`Charitable activities`**
`9`
`Festival events`
**`483,769`**
**`Total`**
**`497,165`**
`Net gains/(losses) on investments`
**`(178)`**
**`NET INCOME/(EXPENDITURE)`**
**`(74,084)`**
**`RECONCILIATION OF FUNDS`**
`Total funds brought forward`
**`180,492`**
**`TOTAL FUNDS CARRIED FORWARD`**
**`106,408`**|`Restricted`
`funds`
`£`
**`16,500`**
**`-`**
**`-`**
**`-`**
**`16,500`**
**`-`**
**`-`**
**`-`**
**`52,881`**
**`52,881`**
**`-`**
**`(36,381)`**
**`36,381`**
**`-`**|**`2025`**
**`Total`**
**`funds`**
**`£`**
**`159,210`**
**`263,303`**
**`15,126`**
**`2,120`**
**`439,759`**
**`10,312`**
**`3,084`**
**`13,396`**
**`536,650`**
**`550,046`**
**`(178)`**
**`(110,465)`**
**`216,873`**
**`106,408`**|`2024`
`Total`
`funds`
`£`
`172,206`
`324,034`
`12,984`
`2,290`| |---|---|---|---| ||||`511,514`| ||||`17,176`
`2,278`| ||||`19,454`
`465,054`| ||||`484,508`| ||||`378`| ||||`27,384`
`189,489`| ||||`216,873`| ``` The notes form part of these financial statements ``` ``` -9- ``` ``` RYEDALE FESTIVAL TRUST LIMITED ``` ## **`BALANCE SHEET 31 AUGUST 2025`** |`Notes`
**`FIXED ASSETS`**
`Tangible assets`
`14`
**`CURRENT ASSETS`**
`Stocks`
`15`
`Debtors`
`16`
`Investments`
`17`
`Cash at bank and in hand`
**`CREDITORS`**
`Amounts falling due within one year`
`18`
**`NET CURRENT ASSETS`**
**`TOTAL ASSETS LESS CURRENT LIABILITIES`**
**`NET ASSETS`**
**`FUNDS`**
`20`
`Unrestricted funds`
`Restricted funds`
**`TOTAL FUNDS`**|**`2025`**
**`£`**
**`10,331`**
**`1,382`**
**`61,658`**
**`4,817`**
**`130,252`**
**`198,109`**
**`(102,032)`**
**`96,077`**
**`106,408`**
**`106,408`**
**`106,408`**
**`-`**
**`106,408`**|`2024`
`£`
`-`
`1,740`
`117,068`
`4,995`
`158,174`
`281,977`
`(65,104)`
`216,873`
`216,873`
`216,873`
`180,492`
`36,381`
`216,873`| |---|---|---| ``` The charitablecompanyis entitledto exemptionfrom audit under Section477 of the CompaniesAct 2006 for the year ended 31 August 2025. ``` ``` Themembershavenotrequiredthecompanytoobtainanauditofitsfinancialstatementsfortheyear ended 31 August 2025 in accordance with Section 476 of the Companies Act 2006. ``` ``` The trustees acknowledge their responsibilities for ``` - `(a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and` - `(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 surplus or deficit 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.` ``` The notes form part of these financial statements ``` ``` continued... ``` ``` -10- ``` ``` RYEDALE FESTIVAL TRUST LIMITED ``` ## **`BALANCE SHEET - continued 31 AUGUST 2025`** ``` Thesefinancialstatementshavebeenpreparedinaccordancewiththeprovisionsapplicabletocharitable companies subject to the small companies regime. ``` ``` ThefinancialstatementswereapprovedbytheBoardofTrusteesandauthorisedforissueon9January2026 and were signed on its behalf by: ``` ``` E J S Anderson - Trustee ``` ``` H Dobson - Trustee ``` ``` The notes form part of these financial statements ``` ``` -11- ``` ``` RYEDALE FESTIVAL TRUST LIMITED ``` ``` NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025 ``` ## **`1. STATUTORY INFORMATION`** ``` Thecharityisacharitableincorporatedentity,registeredinEngland&Wales.Thecompanyislimited by guaranteeso has no share capital.In the event of a windingup of the company,the liabilityof the members is limitedto£10each.Detailsofthecharity'soperationsandprincipalactivitiesaregiveninthe Trustees' Report. ``` ## **`2. ACCOUNTING POLICIES`** ## **`Basis of preparing the financial statements`** ``` Thefinancialstatementsofthecharitablecompany,whichisa publicbenefitentityunderFRS102,have been preparedinaccordancewiththeCharitiesSORP(FRS102)'AccountingandReportingbyCharities: Statement ofRecommendedPracticeapplicabletocharitiespreparingtheiraccountsinaccordancewiththe Financial ReportingStandardapplicablein the UK andRepublicof Ireland(FRS102)(effective1 January2019)', Financial ReportingStandard102 'The FinancialReportingStandardapplicablein the UK and Republicof Ireland'and the CompaniesAct2006.Thefinancialstatementshavebeenpreparedunderthehistoriccostconvention as modified by the revaluation of certain assets. ``` ## **`Income`** ``` InaccordancewiththeCharitiesSORP,allincomeisrecognisedintheStatementofFinancialActivities once the charityhas entitlementto the funds,it is probablethat the income will be received and the amountcan be measuredreliably.Thiscanmeanthat,forgrantsanddonations,incomeisrecognisedaheadofwhenit is received by the charity and in the case of multi-year grants, significantly ahead of receipt. ``` ## **`Expenditure`** ``` Liabilitiesarerecognisedasexpenditureassoonasthereisalegalorconstructiveobligationcommitting the charitytothatexpenditure,itisprobablethatatransferofeconomicbenefitswillberequiredin settlement andtheamountof theobligationcanbe measuredreliably.Expenditureis accountedforonanaccruals basis andhas been classifiedunderheadingsthataggregateall costrelatedto the category.Wherecostscannot be directlyattributedtoparticularheadingstheyhavebeenallocatedtoactivitiesonabasisconsistentwith the use of resources. ``` ## **`Raising funds`** ``` Raisingfundsincludesallexpenditureincurredbythecharitytoraisefundsforitscharitablepurposes and includes costs of all fundraising activities, events and non-charitable trading. ``` ## **`Charitable activities`** ``` Festival event costs - These are costs of staging the productions. Support costs - These are costs of keeping the charity running. ``` ## **`Tangible fixed assets`** ``` Tangiblefixed assets are includedat cost. Items of equipmentare capitalisedwhen the purchaseprice exceeds £100. Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life: ``` |`its estimated useful life:`||| |---|---|---| ||`Rate`|`Method`| ||`-------`|`------------`| |`Office equipment`|`20%`|`Straight line`| |`Computers`|`50%`|`Straight line`| ``` Depreciation in charged in full in the year of addition, and not charged in the year of disposal. ``` ## **`Stock`** ``` Stocksarevaluedatthelowerofcostandnetrealisablevalue,aftermakingdueallowanceforobsolete and slow moving items. ``` ``` continued... ``` ``` -12- ``` ``` RYEDALE FESTIVAL TRUST LIMITED ``` ``` NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 AUGUST 2025 ``` ## **`2. ACCOUNTING POLICIES - continued`** ## **`Taxation`** ``` Thecompanyisacceptedasacharityfortaxpurposesandisexemptfromtaxonitsincomeorgainsto the extent that they are applied for charitable purposes. ``` ``` CreditreceivablebythecharityunderTheatreTaxReliefisrecognisedintheperiodthatthe qualifying productiontookplaceto the extentthatthe receiptand value of the claim are reasonablyassured.The credit is included in incoming resources from charitable activities. ``` ## **`Fund accounting`** ``` Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the Trustees. ``` ``` Restrictedfundsaretobeusedforspecificpurposeslaiddownbythedonor.Expenditurewhichmeets this criteria is identified to the fund. ``` ``` Designatedfundsare to be used for specificpurposesbutthereis no legalobligationon the charityto use the funds in this way. ``` ## **`Foreign currencies`** ``` Assetsandliabilitiesinforeigncurrenciesaretranslatedintosterlingattheratesofexchangerulingat the balancesheetdate.Transactionsinforeigncurrenciesaretranslatedintosterlingattherateof exchange rulingatthedateoftransaction.Exchangedifferencesaretakenintoaccountinarrivingatthe operating result. ``` ## **`Hire purchase and leasing commitments`** ``` Rentalspaidunderoperatingleases are chargedto the Statementof FinancialActivitieson a straightline basis over the period of the lease. ``` ## **`Investments`** ``` Investmentsare revaluedto marketvalueat the balancesheet date.Realisedandunrealisedgainsand losses are included in the Statement of Financial Activities and in the net movement of funds for the year. ``` ``` Thecharity'sinvestmentshavebeenclassifiedascurrentassetinvestmentsonthebasisthattheycan be readily converted into cash. ``` ## **`Government grants`** ``` GovernmentgrantsarerecognisedintheStatementof FinancialActivitiesoncethecharityhasentitlement to the funds, it is probable that the income will be received and the amount can be measured reliably. ``` ## **`Pension costs and other post-retirement benefits`** ``` Thecharityoperatesadefinedcontributionpensionscheme.Contributionspayabletothecharity's pension scheme are charged to profit or loss in the period to which they relate. ``` ``` continued... ``` ``` -13- ``` ``` RYEDALE FESTIVAL TRUST LIMITED ``` ## **`NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 AUGUST 2025`** ## **`3. DONATIONS AND LEGACIES`** |`Donations`
`Legacies`
**`4.`**
**`OTHER TRADING ACTIVITIES`**
`Bar and gift shop income`
`Sponsorship and advertising`
**`5.`**
**`INVESTMENT INCOME`**
`HMRC repayment interest`
`Investment income`
**`6.`**
**`INCOME FROM CHARITABLE ACTIVITIES`**
`Ticket and programme sales`
`Subscriptions`
`Theatre tax credit`
`Grants`|**`2025`**
**`£`**
**`153,364`**
**`5,846`**
**`159,210`**
**`2025`**
**`£`**
**`4,829`**
**`10,297`**
**`15,126`**
**`2025`**
**`£`**
**`18`**
**`2,102`**
**`2,120`**
**`2025`**
`Festival`
`events`
**`£`**
**`226,224`**
**`3,593`**
**`6,486`**
**`27,000`**
**`263,303`**|`2024`
`£`
`172,206`
`-`|`2024`
`£`
`172,206`
`-`| |---|---|---|---| |||`172,206`|| |||`2024`
`£`
`3,852`
`9,132`
`12,984`
`2024`
`£`
`-`
`2,290`
`2,290`
`2024`
`Total`
`activities`
`£`
**`188,515`**
**`6,940`**
**`8,579`**
**`120,000`**|`2024`
`£`
`3,852`
`9,132`| ||||`12,984`| |||**`324,034`**|| ``` continued... ``` ``` -14- ``` ``` RYEDALE FESTIVAL TRUST LIMITED ``` ## **`NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 AUGUST 2025`** ## **`7. RAISING DONATIONS AND LEGACIES`** |`Members' dinner`
`Promotional printing`
`Support costs`
**`8.`**
**`OTHER TRADING ACTIVITIES`**
`Opening stock`
`Purchases`
`Closing stock`|**`2025`**
**`£`**
**`1,361`**
**`6,833`**
**`2,118`**
**`10,312`**
**`2025`**
**`£`**
**`1,740`**
**`2,726`**
**`(1,382)`**
**`3,084`**|`2024`
`£`
`868`
`14,619`
`1,689`|`2024`
`£`
`868`
`14,619`
`1,689`| |---|---|---|---| |||`17,176`|| |||`2024`
`£`
`1,683`
`2,335`
`(1,740`
`2,278`|| ||||`2,278`| ## **`9. CHARITABLE ACTIVITIES COSTS`** |**`CHARITABLE ACTIVITIES COSTS`**|||| |---|---|---|---| |||`Support`|| ||`Direct`|`costs (see`|| ||`Costs`|`note 10)`|`Totals`| ||`£`|`£`|`£`| |`Festival events`|**`311,060`**|**`225,590`**|**`536,650`**| ``` The figures reported above relate to the year ended 31 August 2025. ``` ## **`10. SUPPORT COSTS`** |`Management`
`Depreciation`
`£`
`£`
`Raising donations and legacies`
**`2,118`**
**`-`**
`Festival events`
**`222,836`**
**`2,754`**
**`224,954`**
**`2,754`**|`Totals`
`£`
**`2,118`**
**`225,590`**| |---|---| ||**`227,708`**| ``` The figures reported above relate to the year ended 31 August 2025. ``` ``` continued... ``` ``` -15- ``` ``` RYEDALE FESTIVAL TRUST LIMITED ``` ``` NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 AUGUST 2025 ``` ## **`11. NET INCOME/(EXPENDITURE)`** ``` Net income/(expenditure) is stated after charging/(crediting): ``` ||**`2025`**|`2024`| |---|---|---| ||**`£`**|`£`| |`Depreciation - owned assets`|**`2,754`**|`-`| |`Other operating leases`|**`4,762`**|`4,132`| |`Independent examiner's fee`|**`2,845`**|`2,710`| ## **`12. TRUSTEES' REMUNERATION AND BENEFITS`** ``` There were no Trustees' remunerationor other benefits for the year ended 31 August 2025 nor the year ended 31 August 2024. ``` ## **`Trustees' expenses`** ``` Therewerenotrustees'expensespaidfortheyearended31August2025norfortheyear ended 31 August 2024. ``` ``` Expenses totalling £Nil (2024: £Nil) were reimbursed to the Trustees during the year. ``` ## **`13. STAFF COSTS`** ||**`2025`**|`2024`| |---|---|---| ||**`£`**|`£`| |`Wages and salaries`|**`97,486`**|`103,479`| |`Social security costs`|**`4,600`**|`4,885`| |`Pension contributions`|**`2,041`**|`2,265`| |||| ||**`104,127`**|`110,629`| |||| ``` The average monthly number of employees during the year was as follows: ``` ||**`2025`**|`2024`| |---|---|---| |`Management and administration`|**`3`**|`4`| ``` Thenumberofemployeeswhoseemployeebenefits(excludingemployerpensioncosts)exceeded £60,000 was: ``` |||**`2025`**|`2024`| |---|---|---|---| |`£60,001`|`- £70,000`|**`1`**|`-`| ``` ThekeymanagementpersonnelofthecharitycomprisestheTrusteesandtheFestivalDirector.The prior periodalsoincludesthegeneralmanager,wholeftthecharityinthepriorperiod.Thetotalremuneration of thekeymanagementpersonnelwas£65,588(2024:£74,302).Thisfigurecomprisesgrosswages, employer's national insurance contributions and employer's pension contributions for the Festival Director. ``` ``` continued... ``` ``` -16- ``` ``` RYEDALE FESTIVAL TRUST LIMITED ``` ## **`NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 AUGUST 2025`** |**`14.`**
**`TANGIBLE FIXED ASSETS`**
`Plant and`
`Computer`
`machinery`
`equipment`
`£`
`£`
**`COST`**
`At 1 September 2024`
**`10,117`**
**`4,530`**
`Additions`
**`12,627`**
**`458`**
`At 31 August 2025`
**`22,744`**
**`4,988`**
**`DEPRECIATION`**
`At 1 September 2024`
**`10,117`**
**`4,530`**
`Charge for year`
**`2,525`**
**`229`**
`At 31 August 2025`
**`12,642`**
**`4,759`**
**`NET BOOK VALUE`**
`At 31 August 2025`
**`10,102`**
**`229`**
`At 31 August 2024`
`-`
`-`
**`15.`**
**`STOCKS`**
**`2025`**
**`£`**
`Stocks`
**`1,382`**
**`16.`**
**`DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR`**
**`2025`**
**`£`**
`Trade debtors`
**`34,901`**
`Other debtors`
**`-`**
`VAT`
**`3,577`**
`Prepayments and accrued income`
**`23,180`**
**`61,658`**||`Totals`
`£`
**`14,647`**
**`13,085`**|`Totals`
`£`
**`14,647`**
**`13,085`**| |---|---|---|---| |||**`27,732`**|| |||**`14,647`**
**`2,754`**|| |||**`17,401`**|| |||**`10,331`**|| ||||`-`| |||`2024`
`£`
`1,740`
`2024`
`£`
`19,984`
`13,619`
`-`
`83,465`|`2024`
`£`
`1,740`| ||`117,068`||| ``` Includedwithinaccruedincomeare amountstotalling£10,000(2024: £60,000)relatingto grantfunding which willbereceivedandspentinfutureyears.UndertheCharitiesSORP,andasexplainedinthe accounting policiesonpage13,incomeisrecognisedwhentheconditionsofentitlement,probabilityand measurement are satisfied. This income has therefore been recognised in advance of receipt. ``` ``` continued... ``` ``` -17- ``` ``` RYEDALE FESTIVAL TRUST LIMITED ``` ``` NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 AUGUST 2025 ``` ## **`17. CURRENT ASSET INVESTMENTS`** |**`18.`**|`UK Quoted investment`||||| |---|---|---|---|---|---| ||||**`2025`**||`2024`| ||||**`£`**||`£`| ||`Market value at 1 September 2024`||**`4,995`**||`4,617`| ||`Net unrealised gain/ (loss) on revaluation`||**`(178)`**||`378`| ||`Sales proceeds`||**`-`**||`-`| ||||||| ||`Market value at 31 August 2025`||**`4,817`**||`4,995`| ||||||| ||||||| ||`Historic cost`||**`2,800`**||`2,800`| ||||||| ||**`CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR`**
`Trade creditors`
`Social security and other taxes`
`VAT`
`Other creditors`
`Accruals and deferred income`||||`2024`
`£`
`19,898`
`1,892`
`1,186`
`14,011`
`28,117`
`65,104`| ||||||| ## **`19. ANALYSIS OF NET ASSETS BETWEEN FUNDS`** |`Unrestricted`
`fund`
`£`
`Fixed assets`
**`10,331`**
`Current assets`
**`198,109`**
`Current liabilities`
**`(102,032)`**
**`106,408`**|`Restricted`
`funds`
`£`
**`-`**
**`-`**
**`-`**
**`-`**|**`2025`**
`Total`
`funds`
**`£`**
**`10,331`**
**`198,109`**
**`(102,032)`**
**`106,408`**|`2024`
`Total`
`funds`
`£`
`-`
`281,977`
`(65,104)`
`216,873`| |---|---|---|---| ``` continued... ``` ``` -18- ``` ``` RYEDALE FESTIVAL TRUST LIMITED ``` ## **`NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 AUGUST 2025`** ## **`20. MOVEMENT IN FUNDS`** |**`Unrestricted funds`**
`General fund`
**`Restricted funds`**
`Community Song Cycle`
`Ryedale Festival Strategic Growth Support`
**`TOTAL FUNDS`**
`Net movement in funds, included in the above are a`
**`Unrestricted funds`**
`General fund`
**`Restricted funds`**
`Community Song Cycle`
`Ryedale Festival Strategic Growth Support`
`Specific Concerts - Restricted`
**`TOTAL FUNDS`**|`s follows:`
`Incoming`
`resources`
`£`
**`423,259`**
**`-`**
**`-`**
**`16,500`**
**`16,500`**
**`439,759`**|`At 1.9.24`
`£`
**`180,492`**
**`5,000`**
**`31,381`**
**`36,381`**
**`216,873`**
`Resources`
`expended`
`£`
**`(497,165)`**
**`(5,000)`**
**`(31,381)`**
**`(16,500)`**
**`(52,881)`**
**`(550,046)`**|`Net`
`movement`
`At`
`in funds`
`31.8.25`
`£`
`£`
**`(74,084)`**
**`106,408`**
**`(5,000)`**
**`-`**
**`(31,381)`**
**`-`**
**`(36,381)`**
**`-`**
**`(110,465)`**
**`106,408`**
`Gains and`
`Movement`
`losses`
`in funds`
`£`
`£`
**`(178)`**
**`(74,084)`**
**`-`**
**`(5,000)`**
**`-`**
**`(31,381)`**
**`-`**
**`-`**
**`-`**
**`(36,381)`**
**`(178)`**
**`(110,465)`**| |---|---|---|---| ## **`Comparatives for movement in funds`** |**`Unrestricted funds`**
`General fund`
**`Restricted funds`**
`Community Song Cycle`
`Ryedale Festival Strategic Growth Support`
**`TOTAL FUNDS`**|`At 1.9.23`
`£`
`179,489`
`10,000`
`-`
`10,000`
`189,489`|`Net`
`movement`
`in funds`
`£`
`1,003`
`(5,000)`
`31,381`
`26,381`
`27,384`|`At`
`31.8.24`
`£`
`180,492`
`5,000`
`31,381`| |---|---|---|---| ||||`36,381`| ||||`216,873`| ``` continued... ``` ``` -19- ``` ``` RYEDALE FESTIVAL TRUST LIMITED ``` ``` NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 AUGUST 2025 ``` ## **`20. MOVEMENT IN FUNDS - continued`** ``` Comparative net movement in funds, included in the above are as follows: ``` |**`Unrestricted funds`**
`General fund`
**`Restricted funds`**
`Community Song Cycle`
`Ryedale Festival Strategic Growth Support`
**`TOTAL FUNDS`**|`Incoming`
`resources`
`£`
`416,597`
`4,917`
`90,000`
`94,917`
`511,514`|`Resources`
`expended`
`£`
`(415,972)`
`(9,917)`
`(58,619)`
`(68,536)`
`(484,508)`|`Gains and`
`Movement`
`losses`
`in funds`
`£`
`£`
`378`
`1,003`
`-`
`(5,000)`
`-`
`31,381`
`-`
`26,381`
`378`
`27,384`| |---|---|---|---| ## **`Unrestricted fund`** ``` Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees. ``` ## **`Restricted funds`** ``` Restricted funds are to be used for specific purposes laid down by the donor. ``` ``` Thenotesabovesetouttherestrictedincomereceivedandutilisedinthisandtheprioryear.The balances carriedforwardrelatetofundingwhichhasnotbeenutilisedfortherestrictedpurposeatthebalance sheet date. ``` ``` Restricted funds include: ``` ## `Community Song Cycle` ``` TheFestivalhasalongtraditionofCommunityOperasandCommunitySongCycles,co-created by professionals and amateur performers, and bringing together people from all walks of life. ``` ## `Ryedale Festival Strategic Growth Support` ``` This representsgrantincomeawardedunderthe UK SharedProsperityFundthatsupportedvariousaspects of the festival's development, including a Spring Festival supporting local creativity. ``` ## `Specific Concerts - Restricted` ``` Fundingawardedtosupporttherunningofspecificindividualconcertsatthe2025festival,including a performance of Tippett's 'Crown of the Year' and a performance of Bliss' Viola Concerto. ``` ``` continued... ``` ``` -20- ``` ``` RYEDALE FESTIVAL TRUST LIMITED ``` ``` NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 AUGUST 2025 ``` ## **`21. CONTINGENT LIABILITIES`** ``` There were no known contingent liabilities as at 31 August 2025 or 31 August 2024. ``` ## **`22. RELATED PARTY DISCLOSURES`** ``` There were no related party transactions for the year ended 31 August 2025. ``` ## **`23. STATUS`** ``` The companyis limitedby guaranteeso has no share capital.In the event of a windingup of the company, the liability of the members is limited to £10 each. ``` ## **`24. THEATRE TAX RELIEF`** ``` TheTrusteeshavesubmittedaclaimforTheatreTaxRelieftoHMRevenue&Customsforthe2024 Festival totalling£6,486.Thisamounthasbeenrecognisedasincomeinthestatementoffinancialactivitiesandas a debtor in the balance sheet of these accounts. ``` ``` The Trustees will also be submittinga claim for Theatre Tax Relief for the 2025 Festival,but considerit prudent not to recognise this income until the claim has been made and agreed. ``` ``` -21- ```