Charity number: 1169822
## **Highgate International Chamber Music Festival**
## **Financial Statements**
Period Ended 31 March 2023
## **Highgate International Chamber Music Festival**
Charity number: 1169822
Trustees: Mr A C Lloyd Mr A A Klouda (Chair and Artistic Director) Mr I F Baird (to 1 February 2023) Miss I O Botan (Artistic Director) Lady S K Gavron Mrs N M Klouda (Artistic Director) Mr S D M Potts Ms M Hellebo (from 1 March 2023)
Registered office: 22 Wey Lane Chesham HP5 1JH
|**Index to the financial statements**
|Page|
|---|---|
|Report of the Trustees|1-3|
|Statement of Financial Activities|4|
|Balance Sheet|5|
|The following do not form part of the statutory accounts||
|Trading and profit and loss account|6|
|Independent Examiner’s report|7|
## **Highgate International Chamber Music Festival Report of the Trustees Period Ended 31 March 2023**
The trustees present their report and the unaudited financial statements for the year ended 31 March 2023.
On 20 October 2016 Highgate International Chamber Music Festival was registered as a charity with the Charity Commission. Its registered charity number is 1169822. It is constituted as a Foundation Charitable Incorporated Organization. The governance and activities of the charity are managed by the trustees as set out in the charity’s memorandum and articles of association. Day to day decisions on planning and organising the charity’s activities are delegated to the three trustees who are the artistic directors of the festival.
The trustees have considered the major risks to the charity and are satisfied that the measures in place to mitigate these risks will ensure the continued successful operation of the charity in the short to medium term. (See section below on Covid-19).
## **Covid-19**
The impact of the Covid-19 pandemic on the performing arts world in the period 2020-2022 has been significant. We are hopeful that most of the restrictions on public events caused by the pandemic will not return but our plans will remain flexible and resilient in order to respond to changing circumstances.
After being unable to hold a live event in 2020 and having a smaller live festival in 2021, we were able to hold a successful event in 2022, following the plan developed in 2021 to cope with Covid risks - namely holding shorter concerts lasting about one hour with no interval. Free masks and hand sanitiser were available at the door and we continued to minimise the use of cash. We were able to return to serving refreshments. Audience numbers were good and enthusiasm for the concerts was undiminished.
Trustees are confident the charity has sufficient resources to continue to operate should there be a return to Covid restrictions in the current year,
## **Objectives and activities**
The objects of the charity are for the benefit of the public to promote knowledge and appreciation of the arts and in particular the art of music. The objects are fulfilled primarily by the organisation of an annual chamber music festival with concerts open to the public and associated activities including a free outreach project delivered to local schools.
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**Highgate International Chamber Music Festival Report of the Trustees (Continued) Period Ended 31 March 2023**
## **Achievements and performance**
Once it became clear that Covid restrictions were unlikely to return in 2022, we were able to plan a live event to mark the festival’s 10[th] anniversary. The event was held at St Anne’s Church from 7th-11th December with two concerts held each day - a total of ten concerts, each lasting around one hour without an interval. The ethos and atmosphere of the event remain focused on bringing together the very best, most inspirational musicians to explore and perform chamber music masterpieces old and new which audiences can experience at close quarters in the beautiful setting of Highgate’s St Anne’s Church.
An additional feature of the 10[th] anniversary festival was a special concert to help raise funds for the local charity Food Bank Aid which helps tackle the daily challenge of food poverty in North London. We were delighted that Rowan Atkinson CBE was able to take part in this fundraising initiative held on Friday 9[th] December which celebrated Schubert’s life and music through his letters and compositions. Approximately £4,000 was raised for Food Bank Aid from donations made online and on the day from this sold-out concert.
This year’s programme continued to showcase a diverse and exceptional array of performers and repertoire and as has become customary for the festival, the varied programmes featured muchloved staples of the chamber music repertoire set alongside lesser-known works worthy of greater recognition. There was a London premier of Natalie Klouda’s Piano Quintet, a unique musical journey from Corelli to jazz with Thomas Gould and Gwilym Simcock, a rare chance to hear Dora Pejacevic’s Piano Quintet and a performance of Mozart’s Adagio & Rondo K617 with the classical accordion taking the part of the glass harmonica for which it was originally scored. The week of chamber music celebration concluded with a performance of Mendelssohn’s Octet which had also ended the very first HICMF held back in 2012. Over 30 performers took part with participants travelling from Austria, Croatia, Germany and the USA.
Audience feedback continued to be very positive: “ _....thank you for organising such a wonderful few days. The programmes you put together, the musicians you employed, if that’s the right word, ensured a hugely enjoyable festival. Many thanks and looking forward to next year.”“...thank you all so much for such an exhilarating 5 days of music. They have all been terrific performances.”_
Attendance was good with no restrictions on audience numbers.
Despite live performances at the 2022 festival, unfortunately it was not possible to continue with the HICMF Young Artists’ Scheme. This was due to multiple factors, but in summary the logistical challenges and practicalities of organising and implementing such a scheme are significant and there was no clear way to proceed with the level of funding the festival had at its disposal and the time available to the Artistic Directors.
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## **Highgate International Chamber Music Festival Report of the Trustees (Continued) Period Ended 31 March 2023**
For 2023 HICMF is proceeding with a simplified plan to share its musical activities with the wider community. In the 2023 Autumn Term, HICMF Artistic Director Ashok Klouda and animateur Polly Ives will perform musical story concerts based on the children’s book “The Dinosaur Department Store” in primary schools around Haringey.
Looking forward, the Trustees will continue their work to develop the festival so that it can continue to successfully deliver its charitable objects, strengthen its links within the local community and build its profile.
## **Financial Review**
Income in 2022 was just over £50,000, comparable to the 2019 event, the last one held prior to the impact of the pandemic. Expenditure was increased due to the large number of performers, many travelling from abroad, as well as the impact of inflation on costs such as venue hire and associated energy bills. As a result, the festival ended the year with a small deficit of just under £3,000. Overall reserves remained healthy at £57,394 The income received this year was spread between grants, donations from festival friends and supporters, ticket sales and corporate support/advertising. Gift Aid was also claimed on several donations. We remain very grateful to the ongoing support of a number of grant-making foundations, generous individual supporters as well as many loyal friends who donate, attend concerts and volunteer their help.
## **Reserves Policy**
The trustees consider that it is prudent to aim for reserves at around six months’ annual operating expenditure to mitigate any fluctuations in future income, to deal with unforseen risks such as Covid-19 and to allow for further development of the main activities of the charity, namely the annual chamber music festival as well as the education/mentoring and outreach work.
## **Trustee Board**
Ian Baird retired from the board of trustees after serving for over 7 years and grateful thanks are given to him for his help and support over these years. Marlena Hellebo, a longstanding supporter of HICMF is welcomed as a new trustee joining the board in his place.
On behalf of the Trustees:
.......................................................... Trustee Ashok Klouda
17th September 2023
............................................... Date
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## **Highgate International Chamber Music Festival Statement of Financial Activities Year Ended 31 March 2023**
|
**Incoming resources from**
**generated funds**
Ticket and programme sales
Other income
**Total incoming resources**
**Resources expended**
Charitable activities
Governance costs
**Total resources expended**
Net movement in funds
Total funds brought forward
Fund balances at 31 March 2023
|Unrestricted
Funds
£
21,815
28,670
50,485
53,168
240
53,408
(2,923)
60,317
57,394|Total
**2023**
£
21,815
28,670
50,485
53,168
240
53,408
(2,923)
60,317
57,394|**2022**
£
10,546
30,823
41,369
32,686
120
32,806
8,563
51,754
60,317|
|---|---|---|---|
All the above results derive from continuing charitable grants and activities and there were no recognised gains or losses other than those stated above.
There is no difference between the net movement in funds stated above and the historical cost equivalent.
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## **Highgate International Chamber Music Festival Balance Sheet As at 31 March 2023**
|**2023**
£
**Current assets**
Debtors
-
Cash at bank and in hand
57,394
57,394
**Creditors**
Amounts falling due within one year
-
**Net current assets**
57,394
**Net assets**
57,394
**Reserves**
**Unrestricted funds**
57,394|**2022**
£
-
60,437
60,437
120
60,317
60,317
60,317|
|---|---|
Signed on behalf of the trustees
## Ashok Klouda
...............................
Approved by the trustees :
Irina Olimpia Botan Lady Katharine Susan Gavron Marlena Hellebo Ashok Anthony Klouda Natalie Mary Klouda Alan Cameron Lloyd Stephen David Michael Potts
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## **Highgate International Chamber Music Festival Trading and Profit and Loss Account Year Ended 31 March 2023**
|Ticket and programme sales
Advertising
Grants, supporters and sponsorship
Donations
Gift aid reclaim
Friends
**Administrative expenses**
Artists
Festival manager
Administration costs
Lighting and recording
Hall and piano hire
Concert costs
Insurance
Printing and publicity
ExAminor mentoring project
Donations
Accountancy
|**2023**
£
21,815
950
24,147
-
2,340
1,233
50,485
29,555
6,650
178
3,800
4,896
3,356
370
3,278
-
1,085
240
53,408
(2,923)
|**2022**
£
10,546
800
27,088
59
1,233
1,643
41,369
18,440
3,112
400
2,912
2,138
1,998
166
3,520
-
-
120
32,806
8,563|
|---|---|---|
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## **Independent Examiner’s report to the Trustees of Highgate International Chamber Music Festival**
I report on the accounts of the charity for the year ended 31 March 2023 which are set out on pages 4 to 5
## **Respective responsibilities of trustees and examiner**
As the charity trustees, you are responsible for the preparation of the accounts in accordance with the Charities Act 2011 (the Act)
I report in respect of my examination of the charity’s accounts carried under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable directions given by the Charity Commission under section 145(5)(b) of the Act
## **Independent examiner’s statement**
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination which gives me cause to believe that, in any material respect:
1. The accounting records were not kept in accordance with section 130 of the Act; or
2. The accounts did not accord with the accounting records; or
3. The accounts did not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 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.
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.
Jane Spencer-Davis BA FCCA CTA **Spencer-Davis & Co.** Chartered Certified Accountants 4-6 Peterborough Road Harrow Middx HA1 2BQ
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