The North York Moors Chamber Music Festival TTht (A company IRmited by guarnntee) Trnstees. rep)rt and financial statements for the year ended 31 March 2021 Charity number: 1129262 Company number: 06878005 IEngland & Wales) *MGDZ8RU• 0211112021 )MPhAIES HOUSE 111 A18
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The North York Moors Chamber Music Festival Trust (A company limited by guarantee) Contents Legal and administraiive inforn¥iion Tiustees. report Independent examinei's ¢¢rx)rt Statement of financial aciivitie5 Balancc 5hcci NoL¢S to the finarKial sthtrmen 9-15
The North York Moors Chamber Music Festival Trust (A company limited by guarantee) Iwl and administrative intorntiOn Charlty number 1129262 Company registration number 06878LNJ5 (EnglaNI & Wales) Businem addre The Grdnary Appleron le m[S York Y062 6TF Registered orriee The Gran AppleuM le M¢yx5 YoTk Y062 6TF Truslets J Walion J Brookfi¢ld J Dingk K LAne A Ma50n J Secker (re5j8ned 14 Novenknr 2020) C Mason Secretary J Br(M)kfLeld Independent examiner W G Pear50n FCA FCCA Tht Barktr Partnership Chartered Accountsnts & Stamiory Auditors 17 Cenirdl Buildings Markcl Place Thirsk North Yorkshire Y07 IHD Bankers Barclays Bank plc 1-3 Parli3nYni Stfeei Yotk North Yorkshire YOI 8SE
The North York Moors Chamber Music FeIVal Trust (A company limited by guarantee) Report of the trustees (incorporating the directors, report) for the year ended 31 March 2021 The irustets present their rep)rt aThJ the fitw)cial ststetrrThts for the year cTrJed 31 March 2021. The trustees, who ale also dirt¢tots of The North York Moors Chamber Music Fesiival Trusl for rhe purp)ses of company law and who strved durirbg the year and up io the da of this rert are S¢L Out on pa8e l. Struetur4 governanee •nd managemtnt Governing documenl The North York Moor5 Chamber Music Festival Trnsi is a compafty limiied by 8uardniee aTrd a regisiered charity 80verned by its memordndum and articles of Wociaiion. ChaTity numbeT 1129262 and Compony numixr 06878(YJ5. The company w85 incorpordted on 15 April 2(1)) and re8i5red with tht (kn"lies Commission on 22 April 2(Xl9. AppointRn¢ntoftru51¢vs The diiectors of ihe ¢hatktsble company ('tl ¢harity'l we its In¢S for ¢1 purpose of charity law and throughoui this report are ¢olle¢iivcly referred to as the truuec5. The articles of sociaLl0n provth trus may be aptKJinted by tydinary t¢solution in general meeLin8. Objectivfs and activilies The objectives of the chariiy are LO prnm0. improve. develop and maIntn publi¢ ¢du¢aLiort in an appreciation of th¢ art and science of music in all a$ets by th¢ of publi¢ ¢orKerts and rrcit31s and by such of the ways as the members shall d¢terTnine from tsme 10 tiry. The chariry a tKJlicy io undertake ir5 activity WLthin historkcal buildings thin the North York Moors, in particular historic places of worship. The Tnjsi aeiively seeks to wpwjrt the upkeep of buildings ihrough the promotion. vi$ibilily and fjnanrial SUPFK)rt that can be gained from ani5tic ariivity. When reviewiTr8 rhe charity's objecuves and aciiviiies and ruthe plans th¢ rn1¢¢$ have ref¢rr¢J io the guidanc¢ coiitained in Ihe Chariiy Commission's general guidance public benefii. Achievements *nd performance Despite the impa¢t of the Covid-19 pandew¢ ID rurtailing charitable activiry for large PETLod5 of thi5 year, the TTU5tecs arc pleased to report thai our main achievemcni was ro produce a sum1r Fesiival of chamber music in fronr of a 12Vt awliee during Augusi 2020. Tht Iheme was 'RevoluiLon' which was ftM)st appositr as th¢ Fesiival piodu¢Lion had to radically adapi in order to go ahead. Thi$ involved moving 10 premises ai Welburrb Mar atjd using a marquee with wooden floor5 which could be adapied ro irKIr or ouidoor conditions as legislaiive framework required. Acoustic adapthtions were made. socEal dista1ng was obseryed aThJ a fvll Covid rniiigation plan implemented. Despite these extra bllrdens the Festival pro¢eeded in a safe and posirive rnanncr which was welcomed by both fanuljar facts and new audience mbers. Whilst equivalent festivals were either eancell¢d OT off¢T¢d ttKagt¢ online alrnallY¢s, we were one of the few 10 Pfovide live mu$ic to an iTh-p¢tson audi¢n¢e during 2020. The trustees corbsidei thai 5ignifi¢aThi reputsuonal and artisti¢ benefits have arcrued thE chariiy as a result of this activity. The usual one-off ¢ors¢ells at oiher tinxs of the year curtailed with otle caell#tion in May and a de¢ision Th)¢ ¢0 proceed with coThcerts in November or Marth. Work was ittad behind the scenes with a -bra[ing exercist in the Avtumn and rther work on t5tsbli5hin8 a music recordiTh8 Sludio was Pg$Std_ We will be a¢iing in collaboraiion with the company rnnning th¢ studio and a SteInY piano belonging the charity will be there.
The North York Moor5 Chamber Music Festival Trust (A company limited by guarantee) Report of the trustees (incorporating ihe directors. report) for the year ended 31 March 2021 Con¢ert attendances at the Summer Festival were consistrndy strong despitr conceTns about audience relllctan¢e ro congregate. Ticket income remained very ]Kalthy a1 iicket prices were again maintained ai Iheir curreni level; the truse$ continue to efftsu public berfil by allowing affordable access to world class music in local settings. The eost of a seasor) ¢ickei meant the price of each corert was aroutid £10 per ptrson which berKhrnatk5 vcry favourably against othu professional chamber mLtsie ¢on¢rrts withiTh Yorkshire. OTKC again cffons were also made io rnarkei and eruage younger wple to tend.. thi5 included discounred and free iickets. The ehange 10 an outdoor venue with nwquec and con¥Jliance with Covid regulall0r nxant tkre were $igDifKaoi items of unplanned cxpermliiure. However. this was more than mat¢h¢d by donatsorns from individua15 and other rhariiie5 to support the Summer Festival. The wstres ate espxially grateful for the grdnts and donaiioThs which allowed us io undertake this brave Sp witlv)ui drawing heavily upon our re5erve5. As a resuli of this in 2020121 we rerned a surplu5 of £17.242 in unre5thcied revenue fittmling which has been placed inio general rc5crvc5. Tr tru5ree5 rcmajn 5aii5fLed thai the Festival is operating in a fjnancially stable manDEr. Thc tTUStec5 remain active in their duties a]Lhough most de£isions in r¢lauon lo the SurnnKr Festival hail to be deali WiLh electronically. W¢ Nov¢mber to vi¢w the SuJnrNer Femival. plan ahead for 2021 and comple all siavjtory 8ov¢mance iequirtrnents. Financial review The charity relies on dOlonS and grants as th¢ main sour¢es of ithcorne. Effons to securc new funding sources have continued since the year ethl. Incorning resource5 for the year were £77.770. Resources exrrtn(kd durirtg the year were £61,426 resulting irt an overall net increase in funds of £16.344. Reserves The trusrees have e$tablisW o poli¢y wheieby a wninimum of 5% of Incorr sh)uld be held in reserves ai all limes to cover any unforeseen expenditure. Statement of trustees. responsibilities The trusttes (who 3r¢ a150 directo of The Nonh York mrS Chamter Music Fesiival Trusi for the purpose of ompany lawl are responsible for preparing the Trusrees. Annual Report and the fittarKial $&iements in accordance with applicable law and Unt1 Kingdom Gen¢rally AccepL¢d A¢counting Prnctice. Company law wuires tTuses to prtpare firWla1 s1¢¢[$ for tach fInala1 year which give a th]e and fair view of the of affairs of the charitable cotnpany ar¥J of the incoming re5011rce$ and application of rtsour¢e& in¢luding the itKome and expendiiure. of the charitsble comparty foT year. PTeyaring ttKsc flnancial sratements, the trusiee5 required -. select suitable accounting policies tl*n apply them ron5i5tently.' observe the meththl$ and prin¢iples in the Charitics SOiIP: tnakc jud8ements and ¢][¢¢5 that ar¢ reasonable aNJ prudenL 51ate whether applitable UK A¢¢ouniing Standards have been followed. 5ubj¢ct 10 any material depamJr¢s dixlosed and ¢xplwn¢d in the fjnancial ststemenrs. aThd prepare the fjnancial Statements on ihc 8OLn8 concern blS unless it is inappropriate io prrsume that the charitable company will continue in operation.
The North York Moors Chamber Music Festiv Trust (A company limited by guarantee) Report of the trustees (incorporating the directors, report) for the year ended 31 March 2021 The trnstees are responsible for keeping prDpcr accounting records which disclose asonable accuracy ai any iirne the finanrial p05iuon of the charirablt company and which enable them ro ensure that the finan¢ia] Sta¢$ ¢omply with ihe Companies Aci 2(. They are also re$poosible for safeguarding the assets of the charitable company ar¥J hence for reasonable steps for the preveniion atMI detrciion olfrdud and other irregularilies. Small company provisions This report has been prepared Ln XCOTdance with the provisions 8pplicable to companies eniiTled to the small companies exemptiort. On behalf of rh ard J BTookfL Secretary 27 October 2021
The North York Moors Chamber Music F£stiVAI Tnt (A company limited by guarantee) Independent examiner's report to the trustees on the unaudited financial slatenients of The North York Moors Chamber Music Festival TrusL I report io Ihe charity trustees orb my examinaiion of the xcourtts of the corwny for the year ended 31 March 2021 which are sei our on pages 6 10 15. Responsibilities and b•sis of report AS Ihe chariils irusiees of the company (and also its direciors for the purEMW of company law) you are responsible for the preparation of ihe accounts in accordance with reqllirenxnts of the Compavies Art 2cQ61,t 2( Aci'l. Having saiisfjed myself that the acc¢JJnts of the Company Trjt required to bt audittd under Part 16 of the 2006 Act arKi are elL8ible for iThdtptndeni examtnatLon. I rtport in respect of my examinalion of your charity'5 arcounts a5 carried oui under secijort 145 of the Charities ACL 201 t (th¢ ?01 l A¢¢'}. In ¢atrying oui rny examinaiion I have followed ihe Directions given by the ChariTy Commissiorb under scciion l45{5)Ibl of ihe 201 I Acr. Independent examlner's report I have ¢omplete4J my cxamiDaiion. I confirm thai rnarS have come my aNeniion in conneciion with the examinaiion giving me cause io FKlieve.' (11 accountin8 records were not kept in le5cL of tl¢ company as wuir¢d by section 386 of the 2CQ6 Aci. or (21 the accounis do noi accord wilh those accounun8 records". or 131 thc accounts do noi comply wilh rlK accountin8 requ1mtnts of seetion 396 of the 26 kt other than any Tcquiremeni thai the accounts give a 'true attd fairf vi¢w which is a maitrr considertd as part of an independeThi examinaiion; or 14lihe a¢¢ounl$ have Dot been prepared in accordance with the thodS and pftnciples of the Staiemeni of Re¢Omrnered praciice for accouniirb8 and rep)rting by eharities [applieable to ¢harities prepaTing their a¢¢ounis in accordance with the Financial Reporting sndard 4)plicable in the UK and Republic of Ireland IFRS 10211. I have no concerns and have come across no 0r mallers in ¢onne¢iion with the examination ro which attention slK)uld be drawn in this rep)rt in order io enab a prtspcT understanding of the accounts io be reached. W G Pearson FCA FCCA The Barker Partnership Chanered Aceountants & Swuiory Audit 17 Ceniral BuildinBs Markei Place ThiT$k North Yorkshire Y07 IHD 27 O¢iober 22]
The North York Moors Chamber Music F&stival Trust (A company limited by guarantee) Statement of financial adivlties IlncorporntiDg the Income and expenditure account) For the year ended 31 March 2021 Unrestricted Restricted fun(Ls 21)21 Total 2020 Tolal Notes Income and endowments from: Donaiions and legaci¢s Charitable activitLts Other 34.576 18.606 9.588 15,IJM) 49.576 18.606 9.588 119.616 23,206 7,320 Total 62.770 15.LMX) 77.770 150,142 Expenditure ott: Refreshments MusiEian$' fe¢s Production expenses Staff Costs Venue hire Advertising and marketin8 Accommodaiion Moror and travel Accountan¢y fees Communi¢ations and IT Other office expenses Deprecialion and impairnieThi Donations Surldry eXnseS 5.421 lo. 7.577 2.216 5,421 20.600 7.6 2.216 5.339 28,950 6,632 2,088 1.940 6,037 1.941 9,697 1,178 ,158 4( 1,364 3.489 230 iO.(KK) 329 9.016 760 5.367 1.188 975 382 1.022 9.016 760 5.367 1,188 975 382 3.372 2,350 14 14 Total 45.528 17,679 63,207 70,449 Net incomelexpenditure 17.242 12.679) 14,563 79,693 Total fu15 brwght forward 55.409 76,821 132.230 52.537 Total funds carried forward 72.651 74,142 146.793 132.230 The ternent of financial activities includes all gains al 105ses in ihe year and therefore a separate sratemeThi of ioLal TCCO8nised 8ains and losses h&$ noi been prepaied. All of the above amounts rela* to coniinuing aciiviii&s. The wte5 on pages 9 10 15 forni an inregral part of these financial sraterwms.
The North York Moors Chamber Music FÉstival Trust (A company limited by guarnntee) Balance sheet &5 at 31 March 2021 2021 2020 Note5 Flxed aets Tangible assets 77.830 79.937 Current a&8ets Debiors Cash ai bank and in hand 10.892 59,271 7.305 46.188 70.163 53.493 Creditors: amounts fllittg due within on¢ year 10 (1.2) (1.2(J)) Net current assets 68.963 52,293 Nel a&sets 146.793 132,230 , Funds Restricrcd incon fiLnds Unre5tricitd inco fund5 74,142 72.651 76,821 55,409 Total funds 146,793 132.230 The Balance Sheet con(inues on the following pagc. The note$ on pa8es 9 to 15 form an intrgral part of these financial statrrncrt5.
The North York Moors Chamber Music Festival TnLSt (A Company limited by guarantee) B8lance sheet (continued) Trustees statements required by the Companies Act 2( for the year ended 31 March 2021 FOT year ended 31 March 2021 ihe company"Wd5 entiiied w exernpiion from audit Ujer 5eciioTh 477 of the Companies Aci 2(K)6 relaling sma]l companies. Dire¢Lors' rt$pon$ibilitics= • Thr tMberS have nor rcquired thc conyny io oErfain an audii of its xcijunrs for the year in quesiion in accordance with ti10n 476: athd • The dire¢iors a¢knowledgc iheir re$p)nsibiliiies for complying with the requirements of the Cotnpanie5 Aci 20[ with respect to accouniing records and the preparation of accourbrs. These financial ststeftjtnts hav¢ pr¢pared in aecoidance with the provisions applioabl¢ io compani¢s subject to th¢ small ¢ompani¢s' Tegime and in accordance with FRS 102 Tr FinarKiaJ ReponiThg Sndard applicable in 4he UK and Republir of Iland.. The fknancial stakments wtre rovtd by the board on 27 Ociobtr 2021 and si8Thed on its behalf by J Walton Direttor The now on pages 9 to 15 forni an integnl part of these financial thtements.
The North York Moors Chamber msiC F¢stiVg1 TnLSt (A company limiled by guarantee) Notes lo financial statements for the year ended 31 Mareh 2021 Accountlng polieles The PTirKipal accouniing policies are sununarised below. The accounting polici¢s have b¢en applied consisn[lY throu8houi the year and th¢ prec¢ding year. B¥is of accounting The charity constitutes 3 public inefii enlity a5 defined by FRS102. The financial 5[atrnts are pttpared undei the historical tost convention. excepr for ihc Valuall0n of certain fixed ssets. in attordafjct wilh Accounting arvj Rtp)rtin8 by Charities". stament of Re£ommththd Pra¢ts¢¢ applirable to rhariiies preparing Iheir accouThts in aecordanee with the Finan¢ial Rep)ning Swidard applicable in Ihe UK and Republic of Ireland {FRS 1021 (¢ffe¢tive l January 20191 aThJ ihe CompaThies Aci and the Clwities Act 2011. The financial statements are prtpared in sierJ?ng. which i$ the fvrfiional ¢urruKy of ihe entity. C¥shflow The chariry has taken advanrage of exemptioth in FRS102 for the requirement io prLwJuce a cashflow 51aiemeni tcause it 1$ a small ¢haTity. Incoming resources All incorning resources are irlded in the statrmeni of financial aciivili¢s when the ¢harity is eDlitled 10 the irKorne ar rhe amount can be quantified with te&wnable aecuraty_ Tht following Specific policies are applied io particular categories of I0[= Voluntary inconr 1$ rtceived by way of grant& donarions aThJ sifts and 15 included in full in the siaiemeni of rinan¢ial aciivities when receivable. Grdnts whtre cniiilennt is not condktional on the delivery of a specific performance by the chariiy. are recognised whtn the charity trcomes unconditionally eniidcd 10 the grant. DOnad services and f¥iliti¢s alc included ar the valut the charity where thi5 can be quantified. Tr value of services provided by voluNeers has tK)i eTh included. Grants, irKluding grants for the purchase of fixejj &ssets. are recognised in full irt the stat¢meni of fLnan¢ial activities in the yeat in whi¢h th¢y are e1¥able. 1.4. Resources expended Expenditure is recogni5ed on an accrual ba%is as a liability is incurred. Expendithre includes any VAT which cannot be fi]Ily recovered. and is reported as part of the expenditwr to which li relate5. 1.5. Tangible nxed a&sets and depreciation Tangible fixed &s5ets are slated ai eosi less aceumulattd depreciation. Depreciation is provided at rates calculated io write off the c0511¢ss rt$idual Val of asset over its expcctcd useful life. as follows.. Fixtures aTrJ fittin85 Computer equiprrnt 2.5% arnl IO% straight line 25% straigh¢ li Depreciation is charged on paintings as iheir Sid81 value is considered w be in excess of their original cosi. I[TaIrMeTht reviews carried out slwjw thai thtir recoverable anuyunt is in excess of their tatrying arnount thereby supporting thi% l1£y.
The North York Moors Chamber Music Festival Trust (A company limited by guarantee) Notes to flnancial statements for the year ended 31 Marth 2021 Golng Concern The finan¢ial staterNeDts have i%cn prepared on a going concern basis as ihe Iru5tees believe thai no material uncenaintie5 exi51. The trusiees have considered the level of funds held and the exrttted level of income and exEIltUre for 12 months from authoTising these finan¢iai $taiemeDts. The budgeied Iorne and expenditUTe is sufficient with the level of reservcs for the charity coniinuc io able io conunut as a going concern. The t$$ have ¢onsideTed the impaci of COVID-19 on the chariiys acuviue5 as well as ihe wider econorny. Whilst 11 15 noi considered prdeiical ro accurately assess the durdiion and exteThL of the disrnpiion. the tn]$tees are confldent thai Ihey have in place plans LO deal with any finwiai loss that may arise. Donations •nd legacles Unreslricted Restricted futt(ts funds 21121 Totsl 2020 Tolal Donaiions Gran¢$- Overfield Trust Grants- Normanby Tw$1 Grdn15 NYM NaLional Park Grant5- Durham WharlTrusL 34.576 39.576 107.231 2.0 1,385 34.576 Is,o(M) 49.576 119.616 Charitable aetiviti¢s Unrestricted fuDds 2021 Totsl 211211 Tot Ticket sales BrLKhure sales 17,501 1,105 17.501 1.105 21.376 1.830 18.6(h5 18.606 23.206 Other Unr¢stri¢ted funds 2021 To¢*1 2020 Totsl Gift aid 9.588 9.588 7.320 9,588 9,588 7.320 io
The North York Moors Chamber M$1¢ Festival TnLSt (A eompany limited by guarantee) Notos to financial stalements for the year ended 31 March 2021 Net Ineome for the year 2021 21120 Nei income for the year 15 stsred after chargin8". Depreciaiion arbd other amounts written off tangLble fixed assets Independeni examiThers' remurrauon IndeperKleni examiners. remuneraiion from other work 3.373 350 838 1.363 350 828 Employees Employment costs 2021 2020 Wages and $alaries 2.216 2,088 No cmploytt received enK>Iurrnts of than £(A).(XK) (2020.. Nor}. Number Of employ5 The average Trvjnthly numbers of employees (including the [rUS5} durin8 the y¢ar. cal¢ulat¢d on the basis of full equivalents. was as follows.. 2021 Number 2020 Number Trusttts No Irustee expen5e5 were irTed during the ar (2020.. £nil). T¥xat5 The charity's a¢rivities fall within the exemprions affor&d by the provLSLI)ns of IncomE and CorporatioTh Taxes A 1988. Accordingly. there is no iaxaiion charge in these accounts.
The North York Moors Chamber Mwic Festival Trust {A company limtted by guarantee) Notes to financial statements for the year ended 31 March 2021 Fixture fittin and Computer ¢quipment equipment Tangible flxed a&8ets PAintings Cost Ai l April 2020 Addiiions Disposals 85.444 3.030 92,280 1.268 11.2881 ,268 (1,2881 Ai 31 March 2021 85.444 3,786 3.030 92.260 Depreciation Ai l April 2020 Char8e for ihe year On disposals 8.637 3.023 3.71YJ 350 (1.288) 12,346 3,373 11,2881 At 31 Marrh 2021 2.771 14.431 Net book values At 31 Marth 2021 73.784 l.Ol6 3.030 77,830 AE 31 March 2020 76.807 3.030 79,934 Debtors 2021 2020 OtlKT debtors Prepaymtrtts and accnjed in¢oThr 9.576 1.316 7,305 10,892 7,305 Creditors: #mounts f¥l]ing due wi¢hin on¢ year 2021 2020 Accruals deferred tncome 1.2 1.2 12
The North York Moors Chamber Music Festival Trwt (A company limited by guarantee) Notes to financial statements for the year ended 31 March 2021 ii. Analysis of net auets between fun(is Unrestricted Re&tricted tndS fuD Total funds Fund balanccs ai 31 March 2021 as rcprcscn*d by.. Tangible fixed assets Currenr assets Current liabilities 5.426 68.425 (1,2() 72.405 1.737 77.831 70,162 11.2CQ) 72.651 74.142 146.793 12. Unrestricted funds At Incoming Outgoing Oim4llO At 31103ni General fund 55,409 62,770 {45.528) 72.651 Purposes of unrestricted funds The gen¢Tal fund Comprises those which trustrcs arr free to Use in aOrda1c with charitable objeciive&
The North York Moors Chamber Music Festival Trust (A company limited by guaran¢ee) Notos to financial statements for the year ended 31 Mareh 2021 13. Restricted funds At ltscoming Outgoing At 31ffj3ni Marquee datIon Anonymous donation Sieinway Piano fund Durham WharfTrusi FOu[atiOn The Normanby Trust L2ghiing fund donaiioTh S¢aging Fund donations I5.0) 500 71,738 73.903 {2.165) {2.0(Kl) {8,0) (70) (444) 2(Kl 2.218 130 1.774 76.821 (17.679) 74,142 Purposes of restricted funds The dona(ion represent5 rrrfmbies received WardS the hire of a marquee for the feslival of music. The anonymous donlon represents K)nleS receive41 iowards the comrnissioning of a COmnn?raIlve painting. The balance represenrs Ihe undepreciaied elemeni of the painting. The Steinway Piarto fijnd represethts ath anonytwus gift rcceivcd for the purchase of a Sreinway piano and asso¢iated ¢osts. The balance Tepresents the uwJcprecia*d elemenr of the piano and associated costs ai ihe end of The financial year together with rhe balance of the donaiion which is io be used agaisi rnre costs associated wilh Ihe piano. The Durham Wharf Trusi Foundation fll[ and NoMnbY Trusi fund were for the purrMJse of supporting the summer festival of music. Th¢ lighting furtd donation iepresents yry)nies received ioward5 the purchase of lighiing for use by the charity. The balance represents the undepreciated elemeni of the lighiing ai end of Lh¢ financial year. The Staging Fund donation$ rep¥eseni m1¢$ ff¢eived towards th purchase of rtable stsgiDg wed by the harity. 14. Related party transaflions Mr J Wallon is 3 tn1$ and dirttior of the Chariuble cotnpany. During year ihe chariry paid Mr Walton £2.IX)0 {2020- £2.750} for his services as professional Ml¢lan$ ort an arnLS length commercial basis. Mr J Brookfield is a trttstcc arwj director of thc charithble company. Durin8 the year Mr J Walton made an unconditional donation of £5(MI (2020.. £5)) 10 the eharitsbl¢ ¢ompany. 14
The North York Moors Chamber Music Festival Tnt (A company limited by guarantee) Notes to financial statements for the year ended 31 March 2021 15. Company limited by gu•rnnte¢ Thr Nonh York Mty)TS Cham Musi¢ Femival TnLU is a ¢ompany limi( by guaran*e aod accordingly does noi have a share capiial. Every member of the company undertakes LO ¢ontyibute such aTwunt as may be ffqUIT not exceeding £1 to the as5¢ts of the charitable company in the event of its being wound up while he or she is a rnber. OT within one year after he or she ceasts io bc a member. 15