Charity number: 1169822
Highgate International Chamber Music Festival
Financial Statements
Period Ended 31 March 2024
Highgate International Chamber Music Festival
Charity number: 1169822
Trustees: Mr A C Lloyd Mr A A Klouda (Chair and Artistic Director) Miss I O Botan (Artistic Director) Lady K S Gavron Mrs N M Klouda (Artistic Director) Mr S D M Potts Ms M Hellebo
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 2024
The trustees present their report and the unaudited financial statements for the year ended 31 March 2024.
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.
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.
Achievements and performance
In 2023 HICMF took place at St Anne’s Church from 23rd-26th November with seven concerts spread over the four days of the festival. 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.
Through a fundraising concert which took place on Saturday 25[th] November, HICMF was able to continue to support the local charity Food Bank Aid which helps tackle the daily challenge of food poverty in North London. Rowan Atkinson CBE returned to the festival to participate in this fundraiser which celebrated Mozart’s life and music through his letters and compositions. HICMF increased the funds it raised for FBA compared to 2022 to approximately £7,000 from donations made online and on the day from this sold-out concert.
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Highgate International Chamber Music Festival Report of the Trustees (Continued) Period Ended 31 March 2024
The year’s programme continued to showcase a diverse and exceptional array of performers and repertoire along with HICMF’s customary varied programmes which featured much-loved staples of the chamber music repertoire set alongside lesser-known works worthy of greater recognition. There was a performance of Natalie Klouda’s Five Rings for String Quartet composed to celebrate the 2012 London Olympics, a jazz concert focused on the music of George Gershwin showcased by the Julian Bliss Quintet and other concerts featuring music by Enescu and Richard Strauss alongside more familiar chamber works.
Audience feedback continued to be very positive:
“ Another highly successful and enjoyable festival for which many thanks.”
“...a quick thank you from both of us for another fabulous festival. You bring wonderful music and light into dark late November days.”
Attendance continued to be good with a sold out fundraising concert.
HICMF’s education work activity continued with HICMF co-director Ashok Klouda and animateur Polly Ives performing musical story concerts based on the children’s book “The Dinosaur Department Store” in primary schools around Haringey. These were very well received by the children and schools involved and HICMF will be organising these story concerts again in 2024 for other Haringey primary schools.
Looking forward the Trustees will continue their work to develop the festival so that it can continue successfully to deliver its charitable objects, strengthen its links within the local community and build its profile.
Financial Review
Income from the 2023 festival was just under £47,000, a small decrease on that of the previous year but from a shorter festival with fewer concerts. Expenditure was slightly lower than in 2022 and included a revamp of the festival’s website which was long overdue. As a result the festival ended the year with a deficit of just over £5,000 met from its reserves. Overall reserves remained healthy at £52,071 The income received came from a range of sources - 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.
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Highgate International Chamber Music Festival Report of the Trustees (Continued) Period Ended 31 March 2024
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.
On behalf of the Trustees:
ASHOK ANTHONY KLOUDA
.......................................................... Trustee
............................................... 8th January 2025
Date
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Highgate International Chamber Music Festival Statement of Financial Activities Year Ended 31 March 2024
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 2024 |
Unrestricted Funds £ 21,946 24,810 46,756 51,839 240 52,079 (5,323) 57,394 52,071 |
Total 2024 £ 21,946 24,810 46,756 51,839 240 52,079 (5,323) 57,394 52,071 |
2023 £ 21,815 28,670 50,485 53,168 240 53,408 (2,923) 60,317 57,394 |
|---|---|---|---|
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 2024
| 2024 £ Current assets Debtors - Cash at bank and in hand 52,071 52,071 Creditors Amounts falling due within one year - Net current assets 52,071 Net assets 52,071 Reserves Unrestricted funds 52,071 Signed on behalf of the trustees ............................... Approved by the trustees : ASHOK ANTHONY KLOUDA IRINA OLIMPIA BOTAN Lady KATHARINE SUSAN GAVRON MARLENA HELLEBO ASHOK ANTHONY KLOUDA NATALIE MARY KLOUDA ALAN CAMERON LLOYD STEPHEN DAVID MICHAEL POTTS |
2023 £ - 57,394 57,394 - 57,394 57,394 57,394 |
|---|---|
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Highgate International Chamber Music Festival Trading and Profit and Loss Account Year Ended 31 March 2024
| 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 Outreach costs Donations Accountancy |
2024 £ 21,948 1,300 20,518 - 1,475 1,515 46,756 20,175 9,620 194 3,923 3,661 5,256 380 6,255 1,119 1,256 240 52,079 (5,323) |
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) |
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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 2024 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:
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The accounting records were not kept in accordance with section 130 of the Act; or
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The accounts did not accord with the accounting records; or
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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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