2024-12-31-accounts - Solent Music Festival

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COMPANY REGISTRATION NUMBER: 08218130 CHARITY REGISTRATION NUMBER: 1158876

Solent Music FesEval

Company Limited by Guarantee

Unaudited Financial Statements

31 December 2024

Solent Music FesEval

Company Limited by Guarantee Financial Statements

Year ended 31 December 2024

	Page

Directors' annual report(incorpora1ngthe director's report)	1

Independent examiner's report to the directors	4

Statement of fnancial ac1vi1es (including income and expenditure account)	6

Statement of fnancialposi1on	7

Notes to the fnancial statements	9
The following pages do not form part of the fnancial statements
Detailed statement of fnancial ac1vi1es	17

Notes to the detailed statement of fnancial ac1vi1es	18
Solent Music FesEval

Company Limited by Guarantee

Directors' Annual Report (IncorporaEng the Director's Report)

Year ended 31 December 2024

The directors, who are also the directors for the purposes of company law, present their report and the unaudited financial statements of the charity for the year ended 31 December 2024.

Reference and administraEve details

Registered charity name	Solent Music Fes1val

Charity registraEon number	1158876

Company registraEon number	08218130

Principal ofce and registered	23 FramleyRoad
ofce	Tonbridge
	TN10 4HS
	England

The directors

The directors
	Mrs D L Johnston
	Ms K A Spencer
	Ms S L Sutherland	(Resigned 1 July2025)
	Dr J M C Sargent	(Appointed 30 August 2024)

Independent examiner	Ian ScoW BA(hons),FCA,DChA Saint & Co.
	12/13 Church Street
	Whitehaven
	Cumbria
	CA28 7AY

Structure, governance and management

The company is a registered charity limited by guarantee. The charity was incorporated on 18 September 2012.

RISK MANAGEMENT

The directors have examined the major strategic, business and opera1onal risks which the charity faces and confirm that systems have been established to enable regular reports be produced so that the necessary steps can be taken to lessen the risks.

REMUNERATION

All directors give their 1me freely and no directors remunera1on was paid in the year.

Solent Music FesEval

Company Limited by Guarantee

Directors' Annual Report (IncorporaEng the Director's Report) (con&nued)

Year ended 31 December 2024

ObjecEves and acEviEes

The objec1ves of the centre are to advance, improve, develop and maintain public educa1on in, and apprecia1on of, the art and science of music in all its aspects by any means the trustees see fit, including through the presenta1on of public concerts and musical events.

We have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing our aims and objec1ves and in planning our future ac1vi1es.

Achievements and performance

The fes1val con1nues to grow year a_er year. It's a source of real pride to have created something that brings joy and excitement to the local community. With increased audience numbers and sponsorship in 2024, we felt confident programming an equally ambi1ous fes1val for 2025. The addi1on of the fes1val's very own orchestra has been a par1cular highlight, proving hugely popular with audiences.

Financial review

Following a surplus of £844 on the general fund there was a total of £23,962 in net assets on the general fund.

RESERVES POLICY

It is the policy of the charity to maintain unrestricted funds, which are the free reserves of the charity, at a level which equates to about 12 months unrestricted expenditure plus an allowance for any forecast shorcall on project expenditure. This provides sufficient funds to cover management and administra1on and support costs. At the end of the financial period unrestricted reserves are £23,962. Es1mated unrestricted expenses for the next 12 months are £60,000. It is hoped in due course that the reserves will increase to a figure consistent with these costs.

Plans for future periods

A_er another successful fes1val in 2025, planning is already underway for the next fes1val edi1on in May 2026.

Small company provisions

This report has been prepared in accordance with the provisions applicable to companies en1tled to the small companies exemp1on.

Solent Music FesEval

Company Limited by Guarantee

Directors' Annual Report (IncorporaEng the Director's Report) (con&nued)

Year ended 31 December 2024

The directors' annual report was approved on 25 July 2025 and signed on behalf of the board of trustees by:

Mrs D L Johnston Director

Solent Music FesEval

Company Limited by Guarantee

Independent Examiner's Report to the Directors of Solent Music FesEval

Year ended 31 December 2024

charity') for the year ended 31 December 2024.

ResponsibiliEes and basis of report

As the directors of the company (and also its directors for the purposes of company law) you are responsible for the prepara1on of the financial statements in accordance with the requirements of the Companies Act 2006 ('the 2006 Act’).

16 of the 2006 Act and are eligible for independent examina1on, I report in respect of my examina1on of the charity’s accounts as carried out under sec1on 145 of the Chari1es Act 2011 (‘the 2011 Act’). In carrying out my examina1on I have followed the Direc1ons given by the Charity Commission under sec1on 145(5)(b) of the 2011 Act.

Independent examiner's statement

with the examina1on giving me cause to believe:

accoun1ng records were not kept in respect of the charity as required by sec1on 386 of the 2006 Act; or
the 2006 Act other than any requirement that the accounts give a ‘true and fair' view which is not a maWer considered as part of an independent examina1on; or
principles of the Statement of Recommended Prac1ce for accoun1ng and repor1ng by chari1es applicable to chari1es preparing their accounts in accordance with the Financial Repor1ng Standard applicable in the UK and Republic of Ireland (FRS 102).

Solent Music FesEval

Company Limited by Guarantee

Independent Examiner's Report to the Directors of Solent Music FesEval (con&nued)

Year ended 31 December 2024

I have no concerns and have come across no other maWers in connec1on with the examina1on to which aWen1on should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

Ian ScoW BA(hons), FCA, DChA Saint & Co. Independent Examiner

12/13 Church Street

Whitehaven Cumbria CA28 7AY

Solent Music FesEval

Company Limited by Guarantee

Statement of Financial AcEviEes

(including income and expenditure account)

Year ended 31 December 2024

		2024	2024	2023
		Unrestricted funds	Total funds	Total funds
	Note	£	£	£
Income and endowments
Dona1ons and legacies	5	28,227	28,227	25,443
Charitable ac1vi1es	6	28,701	28,701	23,339
Other income	7	4,267	4,267	6,291
		`─────────`	`─────────`	`─────────`
Total income		61,195	61,195	55,073
		`═════════`	`═════════`	`═════════`
Expenditure
Expenditure on charitable ac1vi1es	8,9	60,351	60,351	58,772
		`─────────`	`─────────`	`─────────`
Total expenditure		60,351	60,351	58,772
		`═════════`	`═════════`	`═════════`

		`─────────`	`─────────`	`─────────`
Net income/(expenditure) and net movement in funds		844	844	(3,699)
		`═════════`	`═════════`	`═════════`
ReconciliaEon of funds
Total funds brought forward		23,118	23,118	26,817
		`─────────`	`─────────`	`─────────`
Total funds carried forward		23,962	23,962	23,118
		`═════════`	`═════════`	`═════════`

All income and expenditure derive from con1nuing ac1vi1es.

Solent Music FesEval

Company Limited by Guarantee

Statement of Financial PosiEon

31 December 2024

		2024	2024	2023
	Note	£	£	£
Current assets
Debtors	13	4,267		–
Cash at bank and in hand		20,198		23,571
		`─────────`		`─────────`
		24,465		23,571

Creditors: amounts falling due within one year	14	503		453
		`─────────`		`─────────`
Net current assets			23,962	23,118
			`─────────`	`─────────`
Total assets less current liabiliEes			23,962	23,118
			`─────────`	`─────────`
Net assets			23,962	23,118
			`═════════`	`═════════`
Funds of the charity
Unrestricted funds			23,962	23,118
			`─────────`	`─────────`
Total charity funds	15		23,962	23,118
			`═════════`	`═════════`

For the year ending 31 December 2024 the charity was en1tled to exemp1on from audit under sec1on 477 of the Companies Act 2006 rela1ng to small companies.

Directors' responsibili1es:

the year in ques1on in accordance with sec1on 476;
The directors acknowledge their responsibili1es for complying with the requirements of the Act with respect to accoun1ng records and the prepara1on of financial statements.

companies subject to the small companies' regime.

Solent Music FesEval

Company Limited by Guarantee

Statement of Financial PosiEon (con&nued)

31 December 2024

July 2025, and are signed on behalf of the board by:

Mrs D L Johnston Director Solent Music FesEval Company Limited by Guarantee

Notes to the Financial Statements

Year ended 31 December 2024

1. General informaEon

England and Wales and a registered charity in England and Wales. The address of the registered office is 23 Framley Road, Tonbridge, TN10 4HS, England.

2. Statement of compliance

Repor1ng Standard applicable in the UK and the Republic of Ireland', the Statement of Recommended Prac1ce applicable to chari1es preparing their accounts in accordance with the Financial Repor1ng Standard applicable in the UK and Republic of Ireland (FRS 102) (Chari1es SORP (FRS 102)) and the Companies Act 2006.

3. AccounEng policies

Basis of preparaEon

revalua1on of certain financial assets and liabili1es and investment proper1es measured at fair value through income or expenditure.

Going concern

There are no material uncertain1es about the charity's ability to con1nue.

Judgements and key sources of esEmaEon uncertainty

es1mates and assump1ons that affect the amounts reported. These es1mates and judgements are con1nually reviewed and are based on experience and other factors, including expecta1ons of future events that are believed to be reasonable under the circumstances.

statements.

Key sources of esEmaEon uncertainty

Accoun1ng es1mates and assump1ons are made concerning the future and, by their nature, will rarely equal the related actual outcome. The directors consider there are no key sources of es1ma1on uncertainty.

Solent Music FesEval

Company Limited by Guarantee

Notes to the Financial Statements (con&nued)

Year ended 31 December 2024

3. AccounEng policies (con&nued)

Fund accounEng

General funds are unrestricted which are available for use at the discre1on of the trustees in furtherance of the general objec1ves of the charity and which have not been designated for other purposes.

Designated funds comprise unrestricted funds that have been set aside by the trustees for par1cular purposes. The aim and use of each designated fund is set out in the notes to the financial statements. Restricted funds are funds which are to be used in accordance with specific restric1ons imposed by donors or which have been raised by the charity for par1cular

Investment income and gains are allocated to the appropriate fund.

Incoming resources

passed to the charity; it is probable that the economic benefits associated with the transac1on will flow to the charity and the amount can be reliably measured. The following specific policies are applied to par1cular categories of income:

income from dona1ons or grants is recognised when there is evidence of en1tlement to the gi_, receipt is probable and its amount can be measured reliably.
legacy income is recognised when receipt is probable and en1tlement is established.
income from donated goods is measured at the fair value of the goods unless this is imprac1cal to measure reliably, in which case the value is derived from the cost to the donor or the es1mated resale value. Donated facili1es and services are recognised in the accounts when received if the value can be reliably measured. No amounts are included for the contribu1on of general volunteers.
income from contracts for the supply of services is recognised with the delivery of the contracted service. This is classified as unrestricted funds unless there is a contractual requirement for it to be spent on a par1cular purpose and returned if unspent, in which case it may be regarded as restricted.

Solent Music FesEval

Company Limited by Guarantee

Notes to the Financial Statements (con&nued)

Year ended 31 December 2024

3. AccounEng policies (con&nued)

Resources expended

that aggregate all costs related to the category. Where costs cannot be directly aWributed to par1cular headings they have been allocated to ac1vi1es on a basis consistent with use of the resources.

Costs in respect of charitable ac1vi1es relate to the opera1ng costs of running the recrea1on centre. Management and administra1on costs are those incurred in connec1on with administra1on of the charity and compliance with cons1tu1onal and statutory requirements.

Financial instruments

the contractual provisions of the instrument.

any related transac1on costs.

Current assets and current liabili1es are subsequently measured at the cash or other considera1on expected to be paid or received and not discounted.

Debt instruments are subsequently measured at amor1sed cost.

Where investments in shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in income and expenditure. All other such investments are subsequently measured at cost less impairment.

payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

recognised in the statement of financial ac1vi1es, with the excep1on of hedging instruments in a designated hedging rela1onship.

Financial assets that are measured at cost or amor1sed cost are reviewed for objec1ve evidence of impairment at the end of each repor1ng date. If there is objec1ve evidence of impairment, an impairment loss is recognised under the appropriate heading in the statement of financial ac1vi1es in which the ini1al gain was recognised.

Solent Music FesEval

Company Limited by Guarantee

Notes to the Financial Statements (con&nued)

Year ended 31 December 2024

3. AccounEng policies (con&nued)

Financial instruments (con&nued)

individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteris1cs.

Any reversals of impairment are recognised immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

4. Limited by guarantee

Every member undertakes, if the company is dissolved while he or she is a member or within 12 months a_er he or she ceases to be a member, to contribute such sum (not exceeding £1) as may be deemed of him or her towards the payment of the debts and liabili1es of the company incurred before he or she ceases to be a member, and of the costs, charges and expenses of winding up, and the adjustment of the rights and of the contributories among themselves.

5. DonaEons and legacies

		Unrestricte d Funds	Total Funds 2024	Unrestricte d Funds	Total Funds 2023
		£	£	£	£
DonaEons
	Dona1ons	24,227	24,227	21,943	21,943
Sponsorship
	Sponsorship	4,000	4,000	3,500	3,500
		`─────────`	`─────────`	`─────────`	`─────────`
		28,227	28,227	25,443	25,443

════════════════════════════════════

6. Charitable acEviEes

	Unrestricte d Funds	Total Funds 2024	Unrestricte d Funds	Total Funds 2023
	£	£	£	£
Ticket andprogramme sales	28,453	28,453	22,776	22,776
Compe11on fees	248	248	563	563
	`─────────`	`─────────`	`─────────`	`─────────`
	28,701	28,701	23,339	23,339
	`═════════`	`═════════`	`═════════`	`═════════`
Solent Music FesEval

Company Limited by Guarantee

Notes to the Financial Statements (con&nued)

Year ended 31 December 2024

7. Other income

	Unrestricte d Funds	Total Funds 2024	Unrestricte d Funds	Total Funds 2023
	£	£	£	£
Gi_ aid	4,267	4,267	6,291	6,291
	`════════`	`════════`	`════════`	`════════`

8. Expenditure on charitable acEviEes by fund type

	Unrestricte d Funds	Total Funds 2024	Unrestricte d Funds	Total Funds 2023
	£	£	£	£
Music fes1val	37,423	37,423	39,938	39,938
Support costs	22,928	22,928	18,834	18,834
	`─────────`	`─────────`	`─────────`	`─────────`
	60,351	60,351	58,772	58,772
	`═════════`	`═════════`	`═════════`	`═════════`

9. Expenditure on charitable acEviEes by acEvity type

		Ac1vi1es undertaken directly	Support costs	Support costs	Total funds 2024	Total fund 2023
		£	£		£	£
Music fes1val	37,423	22,928		6	0,351	58,772
	`═════════`	`═════════`			`═════════`	`═════════`

10. Independent examinaEon fees

	2024	2023
	£	£
Feespayable to the independent examiner for:
Independent examina1on of the fnancial statements	500	424
	`═════`	`═════`

11.

The average head count of employees during the year was Nil (2023: Nil).

12. Trustee remuneraEon and expenses

received by the trustees.

Solent Music FesEval

Company Limited by Guarantee

Notes to the Financial Statements (con&nued)

Year ended 31 December 2024

13. Debtors

13. Debtors
	2024	2023
	£	£
Prepayments and accrued income	4,267	–
	`════════`	`═════`

14. Creditors: amounts falling due within one year

14. Creditors: amounts falling due within one year
	2024	2023
	£	£
Accruals and deferred income	450	400
Director loan accounts	53	53
	`─────`	`─────`
	503	453
	`═════`	`═════`

15. Analysis of charitable funds

Unrestricted funds

	At 1 January 2024	Income	Expenditure	At 31 December 2024 £ 23,962 `═════════`
	£	£	£
General funds	23,118	61,195	(60,351)
	`═════════`	`═════════`	`═════════`

	At 1 January 2023	Income	Expenditure	At 31 December 2023 £ 23,118 `═════════`
	£	£	£
General funds	26,817	55,073	(58,772)
	`═════════`	`═════════`	`═════════`
Solent Music		FesEval

Company Limited by Guarantee

Notes to the Financial Statements (con&nued)

Year ended 31 December 2024

16. Analysis of net assets between funds

	Unrestricted Funds	Total Funds 2024
	£	£
Current assets	24,465	24,465
Creditors less than 1year	(503)	(503)
	`─────────`	`─────────`
Net assets	23,962	23,962
	`═════════`	`═════════`

	Unrestricted Funds	Total Funds 2023
	£	£
Current assets	23,571	23,571
Creditors less than 1year	(453)	(453)
	`─────────`	`─────────`
Net assets	23,118	23,118
	`═════════`	`═════════`
Solent Music FesEval

Company Limited by Guarantee

Management InformaEon
Year ended 31 December 2024

The following pages do not form p

The following pages do not formpart of the fnancial statements.	The following pages do not formpart of the fnancial statements.
Solent Music FesEval

Company Limited by Guarantee

Detailed Statement of Financial AcEviEes
Year ended 31 December 2024
	2024	2023
	£	£
Income and endowments DonaEons and legacies
Dona1ons	24,227	21,943

Sponsorship	4,000	3,500
	`─────────`	`─────────`
	28,227	25,443
	`─────────`	`─────────`
Charitable acEviEes
Ticket andprogramme sales	28,453	22,776
Compe11on fees	248	563
	`─────────`	`─────────`
	28,701	23,339
	`─────────`	`─────────`
Other income
Gi_ aid	4,267	6,291
	`────────`	`────────`

	`─────────`	`─────────`
Total income	61,195	55,073
	`═════════`	`═════════`
Expenditure Expenditure on charitable acEviEes
Ar1sts fees	33,833	36,333
Venue hire and administra1on costs	16,740	14,565
Instrument hire	1,350	1,540
Adver1sing	396	556
Food,drink and hospitality	3,517	2,330
Sundryexpenses	1,302	1,939
Travel and subsistence	1,865	280
Accountancyfees	500	424
Prin1ng, postage and sta1onary	848	805
	`─────────`	`─────────`
	60,351	58,772
	`─────────`	`─────────`

	`─────────`	`─────────`
Total expenditure	60,351	58,772
	`═════════`	`═════════`

	`─────────`	`─────────`
Net income/(expenditure)	844	(3,699)
	`═════════`	`═════════`

Solent Music FesEval

Company Limited by Guarantee

Notes to the Detailed Statement of Financial AcEviEes

Year ended 31 December 2024

	2024	2023
	£	£
Expenditure on charitable acEviEes Music fesEval
*Ac&vi&es undertaken directly*
Ar1st fees	33,833	36,333
Venue hire	2,240	2,065
Instrument hire	1,350	1,540
	`─────────`	`─────────`
	37,423	39,938
	`─────────`	`─────────`

*Support costs*
Administra1on costs	14,500	12,500
Adver1sing	396	556
Food,drink and hospitality	3,517	2,330
Sundryexpenses	1,302	1,939
Travel and subsistence	1,865	280
Accountancyfees	500	424
Prin1ng, postage and sta1onary	848	805
	`─────────`	`─────────`
	22,928	18,834
	`─────────`	`─────────`

	`─────────`	`─────────`
Expenditure on charitable acEviEes	60,351	58,772
	`═════════`	`═════════`