Registered No. 09957497 SALZBURG EASTER FESTIVAL FOUNDATION (a company limited by guarantee FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2025
SALZBURG EAsfER FESTIVAL FOUNDATION Financial statements for the year ended 30 June 2025 Contents Page Reference and administrative Information Report of the trustees lincorporating a directors, report) Independent Examiners Report Statement of financial activities (incorporating an income and expenditure account) Balance sheet Notes to the financial statements
SALZBURG EASTER FESTIVAL FOUNDATION Reference and admin15tratlve Information Trustees: Michael Berger-sandhofer Alberto 8adino Francisco Gaudier Fargas Salim Abdool Hamid Moollan Reglstered offlce: 22 Cliveden Place Belgravia London SWIW 8HD Independent Examlner: Philip Clark Azets nd 2 Floor, Regis House 45 King William Street London EC4R 9AN Company number: 09957497 CharSty number: 1167526
SALZBURG EASTER FESTIVAL FOUNDATION Report of the trustees (incorporating a dlrector's report) For the year ended 30 June 2025 The trustees present their report and the accounts for the year ended 30 June 2025. They have been prepared in accordance with the Memorandum and Articles of Association and the recommendations of Accounting and Reporting by Charities: statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard in the UK and the Republic of Ireland (Charities SORP IFRS 102)). Reference and adminlstrative details Reference and administrative details are shown on page l of the financial statements. The trustees The trustees who served the charity during the year were as follows: Michael Berger-sandhofer Alberto Badino Francisco Gaudier Fargas Salim Abdool Hamid Moollan Constitution and objects The charity was incorporated on 19 January 2016. Under its Memorandum and Articles of Association, it5 main objective is the promotion of aesthetic education and the cultivation and improvement of public taste in music, opera or other arts. The trustees have regard to the Charity Commission's guidance on the public benefit requirement when consideration what activities the charity should undertake. and they confirm that they have paid due regard to this guidance during this deliberation. Appointment and election of trustees The trustees are unpaid and were four in number during the financial year. The minimum number for a quorum is two. If any more are deemed to be required, through a lack of skills, resignation or disqualification. they would be recommended by the trustees for appointment. Financial review {including reserves policy) Total income for the accounting period was £41,86712024'. £37,652} and expenditure totaled £36,223 {2024: £36,874). Unrestricted reserves at the year end were £60,46612024: £54,822). The trustees had agreed during 2024 to devote donations towards the 2025 festival activities, thus during this accounting period one contribution was made to the programme in May 2025 of £34,3141É40,0001 and further expenditure was devoted to educational activities for music graduate students at the University of Oxford. Risk management The charity holds no assets other than cash. The trustees take the view that the main risks of the charity are financial. To mitigate any financial risk, they use a reputable bank and highly qualified advisors.
SALZBURG EASTER FESTIVAL FOUNDATION Report of the trustees (incorporating a directorfs report) For the year ended 30 June 2025 Plans for the future The Charity received a good level of support from donors in this financial year and recorded a moderate increase in incoming donations since the prior year. This enabled the trustees to carry out as planned the contributions envisaged during the previous financial year. making grants of £34,3141£40,0001, and to increase the Charit(s expenditure towards educational activities in England. The Charity remains a smaller contributor to the Arts in the United Kingdom and to its parent organisation in Austria compared to other sponsors. Looking at the future, the Charity aims to continue in its effort to promote the appreciation of performing opera and classical music among the British audience and to support the longer-term plans for the Salzburg Easter Festival through select contributions and direct cultural initiatives. Statement of trustees, responsibilities The trustees (who are also directors of Salzburg Easter Festival Foundation for the purposes of company law} are responsible for preparing the report of the trustees and the financial statements in accordance with applicable law and regulations. Company law requires the trustees to prepare financial statements for each financial year. Under that law the trustees have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law}. Under company law the trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing these financial statements, the trustees are required to: Select suitable accounting policies and apply them conslstently; Observe the methods and principles in the Charities SORP; Make judgements and estimates that are reasonable and prudent; State whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; Prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business. The trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charitable company's transactions and disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregu larities.
SALZBURG EASTER FESTIVAL FOUNDATION Approval This report was approved by the board of trustees on 26/03/2025 and signed on its behalf by: Alberto Badino Trustee
SALZBURG EASTER FESTIVAL FOUNDATION Independent Examiner's Report to the Trustees of Salzburg Easter Festival Foundation I report to the charity trustees on my examination of the accounts of the company for the year ended 30 June 2025 which are set out on pages 6 to 9. Responsibilities and basis of report As the charity trustees of the company {and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 20061'the 2C()6 Act,). Having satisfied myself that the accounts of the company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your company's accounts as carried out under section 145 of the Charities Act 20111'the 2011 Act'}. In carrying out my examination I have followed the Directions given by the Charity Commission under section 145{5){bl of the 2011 Act. Independent examiner's statement I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect: accounting records were not kept in respect of the company as required by section 386 of the 2006 Act: or the accounts do not accord with those records; or 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 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 lapplicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021]. I 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 proper understanding of the accounts to be reached. Philip Clark Azets Regis House 45 King William Street London EC4R 9AN Date 26 lo
SALZBURG EASTER FESTIVAL FOUNDATION Statement of financlal artivities {Incorporatin8 an income and expenditure account) For the year ended 30 June 2025 Notes 2025 2024 Income from: Donations 41,867 37,652 Total Income 41,867 37,652 Expenditure on: Charitable activities Support costs 36,542 {3191 33,862 3,012 Total expenditure 36,223 36,874 Net income for the year, bein8 net movement in funds 5,644 778 Fund balance5 brought for#vard 54,822 54,044 Fund balances carrled forward 60,466 54,822 All amounts relate to unrestrirted funds and to continuin8 activities. The notes on pa8es 8 to 9 form part of these financial statements
SALZBURG EASTER FEsfivAL FOUNDATION Balance sheet as at 30 June 2025 Notes 2025 2024 Current assets: Cash at bank and in hand 59,626 55,662 Llabllltles: Amounts falling due within one year Net current assets 60,466 54,822 Funds: Unrestricted reseNes 60,466 54,822 60,466 54,822 We confirm that: Forthe yearended 30June 2025 the companywas entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies: and The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476. We acknowledge our responsibilities for: Ensuring that the company keeps accounting records which comply with section 386 of the Companles Act 2006; and Preparing the accounts which give a true and fairvlew of the state of the companvs affairs at 30 June 2025 and of its results for the year then ended in accordance with the requirements of sections 394 and 395 and which otherwise comply with the requirements of this Act relating to accounts so far as applicable to the company. These accounts have been prepared in accordance with the special provisions relating to small companies within Part 15 of the Companies Act 2006. The financial statements were approved by the trustees and authorised for issue on 26/03/2025 and signed on their behalf by: Alberto Badino Trustee
SALZBURG EASTER FESTIVAL FOUNDATION Registered company number 09957497 Notes to the financial statements For the year ended 30 June 2025 General information The Salzburg Easter Festival Foundation is a private company, limited by guarantee, domiciled in England and Wales The registered office is as shown on the company information on page l. Accounting policies a) Accounting convention The financial statements have been prepared under the historical cost convention and 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 in the UK and Republic of Ireland IFRS 1021 (effective l January 20151 {Charities SORP {FRS 1021) and the Companies Act 2006. bl Cash flow statement The charity has taken advantage of the disclosure exemption in respect of the requirements of Section 7 "Statement of Cash Flows" in preparing these accounts as permitted by FRS 102 and the Charities SORP IFRS 1021 Update Bulletin l. c) Income recognition All incoming resources are accounted for in the Statement of Financial Activities ISOFAI when the charity is legally entitled to the income and the amount can be quantified with reasonable accuracy. d) Expenditure recognition All expenditure is accounted for on an accruals basis, and is allocated to the appropriate heading in the accounts and includes VAT. e) Value added tax Value Added Tax is not recoverable by the charity, and as such is included in the relevant costs in the Statement of Financial Activities. Fund accounting The unrestricted general funds are those funds that are available for use at the discretion of the trustees in furtherance of the general objectives of the charity,
SALZBURG EASTER FESTIVAL FOUNDATION Notes to the financlal statements For the year ended 30 June 2025 Accountlng pollcies - Continued 8) Foreign currency translatlon The financial statements of the charity are presented in Sterlin8. In preparing the financial statements, transactions in currencies other than Sterling are recognized at the spot rate at the dates of the transactions, or at an average rate where this rate approximates the actual rate at the date of the transaction. At the end of each reporting period. monetary items denominated in forei8n currencies are retranslated at the rates prevailing at that date. Non- monetary items that are measured in terms of historical cost in a foreign currency are not retranslated. Exchange differences are reco8nised In profit and loss in the period in which they arise. Expendlture on charltable actlvlties 2025 2024 Donation 34,314 33,862 34,314 33,862 Support and governance costs: Accountancy Bank charges and exchan8e differences 840 (1,159) 840 2,172 (319) 3,012 Credltors 2025 2024 Accruals