THE GWYL LLANFYLLIN FESTIVAL ASSOCIATION
Registered charity number 1158283
Trustees Annual Report covering 4th September 2023 to 3rd September 2024
Administrative Details of the Charity
The charity’s principal address is: Rhosddu House, Llansantffraid, Powys SY22 6TH
The trustees and principal officers are:
John Eddy - Chairman/Tustee Margaret Clennett - Secretary/Trustee Alistair Turner - Trustee Pauline Boucher-Glynn - Trustee
THE GWYL LLANFYLLIN FESTIVAL ASSOCIATION, known as the Llanfyllin Festival Association, is a Charitable Incorporated Organisation with a constitution. New Trustees are selected by Trustees and committee members and appointed at an AGM or a general meeting. It is usual for potential Trustees to serve on the committee before being appointed as a Trustee. The charity is run by volunteers; in the main these are the trustees and committee members, who organise and run the concerts and any other events.
Activities and Performance for the Period
As stated in the constitution: “The charity's objects are to promote, develop and maintain public education in and appreciation of the art and science of music in all its aspects by the presentation of public concerts and recitals and by such other ways as the trustees shall determine from time to time in the county of Powys for the public benefit.” To achieve its objective the Charity again organised the annual Llanfyllin Music Festival, this year comprising four classical concerts to be performed at St Myllin’s church. The audience, coming from Powys and beyond, totalled over 350 across all four events.
Financial Review
This financial year runs from 4th September 2023 to 3rd September 2024. We started the year with a net asset balance of £44,112 (which included current account £8,464 and deposit account £32,151) and ended the year with a net asset balance of £39,639 (which included current account £2,740 and deposit accounts £37,599). Total income for the financial year was £9,368 and expenditure £13,591, giving a net deficit of £4,473, being an operating deficit of £6,661, offset by donations and interest of £2,188. In respect of the latter our thanks must go to our patron, Peter Bennett-Jones, for his generous donation of £500. While the finances therefore remain healthy with significant sums in both the current and deposit accounts, consideration must be given to the fact that continued operating deficits at the level of this year and last will totally deplete funds within ten years. However, a policy decision was taken to allow overall funds to be reduced in order to continue staging concerts and additionally run an outreach programme. The purpose of any deposit account reserve remains as previously reported, namely to: make provision for an anniversary year of the Llanfyllin Music Festival;
help cover any operating loss;
- provide a buffer for the possible reduction in donations, while alternative sources of funding can be found.
The Charity’s bank is the NatWest, Owain Glyndwr Square, Aberystwyth SY23 2NB, and a deposit account is held with Cambridge and Counties Bank, Charnwood Court, New Walk, Leicester LE1 6TE.
Declaration
The trustees declare that they have approved the trustees’ report above.
Signed:
Full Name: John Eddy
Position: Chairman & Trustee
Date: 29[th] October 2024
INCOME & EXPENDITURE for the year to 3rd September 2024
| 2024 | 2023 | |||||
|---|---|---|---|---|---|---|
| INCOME | ||||||
| Direct Income | ||||||
| Festival - Ticket Sales | 6,360 | 6,344 | ||||
| Fringe - Ticket Sales | 340 | |||||
| Programme sales | 222 | 205 | ||||
| Refreshment sales | 598 | 276 | ||||
| 7,180 | 7,165 | |||||
| Indirect Income | ||||||
| Funding (Grants & Donations) | 740 | 1,150 | ||||
| Interest | 1,448 | 723 | ||||
| 2,188 | 1,873 | |||||
| Total Income | 9,368 | 9,038 | ||||
| EXPENDITURE | ||||||
| Muscians' Fees - Festival & Outreach | 10,150 | 6,100 | ||||
| Fringe costs | 1,478 | |||||
| Musicians' Travel & Accommodation | 1,383 | 1,582 | ||||
| Advertising & Marketing | 506 | 1,038 | ||||
| Online Ticketing | 0 | 820 | ||||
| Venue Hire | 1,000 | 750 | ||||
| Stage Lighting | 0 | 373 | ||||
| Programmes cost | 169 | 153 | ||||
| Refreshment cost | 548 | 318 | ||||
| Admin & Sundry | 82 | 750 | ||||
| Bank fees | 3 | 3 | ||||
| Total Expenditure | 13,841 | 13,365 | ||||
| Net Surplus/(Loss) | (4,473) | (4,327) | ||||
| BALANCE SHEET as at 3rd September 2024 | ||||||
| 2024 | 2023 | |||||
| ASSETS | ||||||
| Fixed assets | 1,100 | 1,100 | ||||
| Current Assets | ||||||
| Debtors - Festival & Fringe income | 3,967 | |||||
| Cash at bank NW - current | 2,740 | 8,464 | ||||
| Cash at bank NW - deposit | 4,065 | |||||
| Cash on deposit | 33,534 | 32,151 | ||||
| 40,339 | 44,582 | |||||
| CURRENT LIABILITIES | ||||||
| Creditors - Fringe expenditure | ||||||
| Creditor - St Myllin's Church | 1,000 | 750 | ||||
| Creditor - Workhouse | 820 | |||||
| Creditor - Alys Huws | 800 | |||||
| 1,800 | 1,570 | |||||
| Net Assets | 39,639 | 44,112 | ||||
| ===== | ===== | |||||
| REPRESENTED BY | ||||||
| Net surplus brought forward | 44,112 | 48,439 | ||||
| Surplus current yr | (4,473) | (4,327) | ||||
| 39,639 | 44,112 | |||||
| ===== | ===== |