Surrey Hills International Music Festival (trading as Investec International Music Festival) ## TRUSTEES' REPORT AND FINANCIAL STATEMENTS For the year ended 30 September 2021 Charitable Incorporated Organisation (CIO) number 1171264 **Surrey Hills International Music Festival (trading as Investec International Music Festival) REFERENCE AND ADMINISTRATION DETAILS** |**CIO name**|Surrey Hills International Music Festival|Surrey Hills International Music Festival| |---|---|---| |**CIO number**|1171264|| |**Principal office**|The Lodge|| ||Upper Street|| ||Shere|| ||Surrey GU5 9JA|| |**Trustees**|Julia Pearson|Chairman| ||Gary Lloyd|| ||Henry Pearson|| ||George Burnett|| ||Lyn Litchfield|| ||Cindy Peck|| |**Committee**|Julia Pearson|Chairman| ||Gary Lloyd|Treasurer| ||Patricia Jubert|Secretary and Friends’ Administrator| ||Henry Pearson|Adviser on Governance and IT matters| ||Wu Qian|Artistic Director| ||George Burnett|| ||Lyn Litchfield|| ||Cindy Peck|| |**Festival Management Services**|Roseland Services Ltd (Isabel Dawson)|| |**Bank**|Lloyds Bank plc|| |**CONTENTS**|**Page**| |---|---| |Trustees' report|1| |Independent examiner's report|F1| |Statement of financial activities|F2| |Balance sheet|F3| |Notes to the financial statements|F4| ## **Trustees’ Report for the year to September 2021** ## **1. About the Festival** The Festival is a Charitable Incorporated Organisation (CIO), with registered name Surrey Hills International Music Festival, trading as the Investec International Music Festival, with Registered Charity No. 1171264. The address of the Festival is: The Lodge Upper Street Shere, Guildford Surrey, GU5 9JA The Festival was founded by professional musician and entrepreneur Tessa Marchington and international pianist Wu Qian who acts as Artistic Director. The Trustees during the year to 30 September 2021 were: Mrs Julia Pearson Chairman Mr Gary Lloyd Treasurer Dr Henry Pearson Adviser on Governance and IT matters Mr George Burnett Mrs Lyn Litchfield Mrs Cindy Peck ## **2. The Festival’s management structure** IIMF is run day-to-day by a Management Committee which meets on a regular basis and is comprised of the Festival Trustees, Patricia Jubert (Secretary and Friends’ Administrator), and Artistic Director Wu Qian. Roseland Services Ltd continued to provide a part-time Festival Manager (currently Isabel Dawson). The Festival Manager also attends Management Committee meetings. ## **3. The Festival’s activities and objectives in the year** The Festival has brought world-class artists to perform annually in intimate venues in the Surrey Hills and surrounding area for more than a decade. 1 The Festival Season was initially programmed for May 2021 as normal, but because of the continuing pandemic restrictions it was postponed until September 2021. The postponed Festival Season, configured as a ‘Chamber Season’ was carried out very successfully as originally planned. Fortunately all of the artists and venues booked for May were available in September. To provide an appropriate degree of social distancing the concerts consisted of a shortened programme with no interval with most performed twice in the same day for different (and socially-distanced) audiences. Concert goers generally were very appreciative of this approach and the artists were all willing to perform a shortened programme twice for the originally negotiated fee. The 2021 Festival Season made use of four new venues, Place Farm Barn and The Stone Hall at West Horsley Place, St Martha’s Church and the stunning new Hilltop Building at the RHS Gardens Wisley. 2021 saw the launch of an annual Pilgrims’ Concert & Guided Walk revealing the beauty of the Surrey Hills, beginning with a walk to the church of St-Martha-on-theHill, where a pair of outstanding young professional bassoonists performed. In spite of the pandemic, the Strings Scheme, administered by the Royal Grammar School Guildford was able to continue, in either virtual and face-to-face forms to fit with whether pupils were at schools or at home. The Scheme, which is significantly funded by the Festival’s as part of its charitable activities (with up to £4,000 per annum funding from Festival Friends and a specific grant from the Community Foundation for Surrey) provides violin and cello tuition to year 4 pupils at three Guildford primary schools under the expert tuition of professional music teachers. The Scheme has led to the creation of a string orchestra of pupils from years 5 and 6 who decide to carry on learning. ## **4. Financial review and statement on reserves** The Festival carefully manages its budgets as ticket sales rarely cover concert costs. The Committee members serve voluntarily and for no remuneration. The Core Festival sponsorship by Investec W&I continued at the pre-pandemic level for the 2021 season. With careful husbandry and the generosity of sponsors, Friends and other donors, the Festival’s financial position was maintained during the year to 30 September 2021, with a net increase in Unrestricted funds of £14,510 and no change in in Restricted funds. Principal sources of funds were: - Continuing sponsorship from Investec W&I and other corporate sponsors - (Allianz Musical Insurance and John Dibben, Jeweller). - Contributions from Festival Friends, the Directors’ Circle and Circle of Angels (a new tier for higher level donors, of £1000 per year). The principal expenditure has been on concert advertising and promotion, the Strings Scheme, and the cost of £14,055 for the Festival Manager. Governance costs 2 consisted entirely of necessary expenses incurred during committee duties and the cost of the Festival Manager. Consistent with the Festival’s policy of retaining sufficient cash reserves to act as working capital for each year’s activities and to act as a buffer against uncertainties in sponsorship income, an Unrestricted balance of £76,473 and a Restricted balance of £1000 have been carried forward as at 30 September 2021. ## **5. The outlook for the future** The Investec International Music Festival continues to be a much-loved local event with an increasing audience base. We look forward to an exciting future, with an increasing profile on the national scene, a solid financial base, enthusiastic audiences, and exciting programming for the seasons to come. 2022 is the 150[th] anniversary of the birth of Ralph Vaughan Williams (RVW) and the Festival will celebrate the composer’s anniversary in a way which is truly unique to the county – looking back at his musical legacy, so much of which was inspired by and composed in the beautiful Surrey Hills, but also looking to the next generation and emulating RVW’s own example of support for other composers, presenting the world premieres of three new works: - David Matthews’ new arrangement for chamber orchestra of RVW’s Romance & Pastorale. - Natalie Klouda’s Piano Trio No.2, specially written for the Sitkovetsky Trio and drawing on RVW’s own pastoral and literary inspirations (Natalie is a former pupil of the Yehudi Menuhin School in Surrey). - The winning work from the Surrey Hills Young Composer Competition, launched by IIMF this year to coincide with the RVW celebrations. The season will be launched on 19[th] March with special collaboration with RVW’s school, Charterhouse, bringing the Britten Sinfonia together with a selection of the school’s current music scholars for a performance in the awe-inspiring Memorial Chapel, in a programme including _An Oxford Elegy, Fantasia on a Theme of Thomas Tallis_ and the world premiere of a specially commissioned new arrangement by David Matthews of _Romance & Pastorale_ (directed from the violin by Alexander Sitkovetsky). The main festival fortnight will extend the celebrations with a thread of RVW’s music running through each concert alongside works by other composers: - The Sitkovetsky Trio & Friends will perform works by RVW, Klouda, Beethoven and the winner of the Surrey Hills Young Composer Competition (Hall, Charterhouse). - The Modigliani Quartet will perform music by RVW alongside Schubert and the string quartet by Ravel, with whom RVW studied orchestration in Paris and subsequently formed a life-long friendship (Menuhin Hall). - The Festival’s Artistic Director, pianist Wu Qian and cellist Gary Hoffman 3 perform David Matthews’ _Dark Pastoral_ – based on the surviving fragment of the slow movement to an unfinished Vaughan Williams Cello Concerto - alongside other works by RVW, Mendelssohn & Chopin (Menuhin Hall). - The Festival Finale in the spectacular setting of RHS Hilltop at RHS Garden Wisley: clarinettist Michael Collins & Friends (including London Symphony Orchestra leader Roman Simovic) combine RVW chamber works with Beethoven’s Septet for winds and strings. Additional events in planning include an exhibition of RVW artefacts and lecture at Charterhouse by the school’s Head of Academic Music, Dr Russell Millard (19 March pre-concert event); a talk and guided walk led by writer, lecturer and broadcaster Richard Wigmore in the area around RVW’s childhood home, Leith Hill Place; and a young artist’s performance and guided walk in Dorking. 4 Surrey Hllls International Music Festival (trading as Imiestec Internatlonal Muslc Festlval) INDEPENDEMf EXAMINER'S REPORT TO THE TRusfEES ON THE FINANCIAL STATEMENT5 OF THE CHARITY For the year ended 30 September 2021 I report on the accounts of the tharTty for the year ended 30 September 2021, which are set out on pa8e5 Fl to F4. Respertlve responslbllttle5 of tntstees and examlner The charity's trustees are responsible for the preparatlon of the accounts. The charlty'5 trustees consider that an audit is not required for this year under section 144121 of the Charltles Act 2011 {the 2011 Act) arKI that an independent examination is needed. It Is my responslblllty to: examlne the accounts under section 145 of the 2011 Act: to follow the procedures laid down In the general dlrertlons gfven by the Charlty Commisslon under sertion 14515llbl of the 2011 Act.. and to state whether partlcular matters have come to my attentlon. Basls of Irbdependent examlnerfs report My examSnatlon was Carried out in accordance with the general dlrectlons glven by the Charlty Commisslon. An examination includes a revlew of the accounting records kept by the charity and a comparlson of the accounts presented with those records. It also includes ¢on5idefation of any unusual items or dlsclosures In the accounts. and seeking explanation5 from you a5 trustees conceming any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and Consequently no opinion is 8lven as to whether the accounts present a Irue and fair view, and the ￿pOrt Is limited to those matter5 set out in the statement below. Independent examlnevs statement In connectlon wlth my examination, no matter has come to my attention: 111 which glves me reasonable cause to belleve that Sn any material respect the requlrements: to keep accounting records in accordance with section 130 of the 2011 Act; and to prepare accounts which accord with the accounti￿& records and comply with the accounting requirements of the 2011 Art have not been met: or 121 to whlch, In my oplnlon, attentlon should be drawn in order to enable a proper understanding of the accounts to be reached. GJ Revill ACIB 3 De￿rnber 2021 F•lr¥lew, Pllylms Wayi Westhumble. RH5 GAP Fl Surrey Hills International Music Festival (trading as Investec International Music Festival) ## STATEMENT OF FINANCIAL ACTIVITIES ## For the year ended 30 September 2021 |Notes
Incoming resources
1
Incoming resources from charitable activities
Concert ticket sales
Programme sales & advertising revenues
Merchandise sales
Contributions from Friends
Contributions from Directors' Circle
Incoming resources from generated funds
Sponsorship & other donations
Grants
Income tax recoverable through Gift Aid
Total incoming resources
Resources expended
Charitable activities
Concert performers' fees
Hire of concert venues & instruments
Ticket agent sales commission
New commissioned work
Promotion, advertising & programme costs
Concert food, drink & other costs
Support of Strings Scheme in Schools
Merchandise purchases
Festival Friends' events
Governance costs
Total resources expended
Net incoming/(outgoing) resources
and net movement in funds
Transfers
Fund balances brought forward
Fund balances carried forward|Unrestricted
funds
£
18,492
1,680
62
4,260
4,950
35,599
0
2,149
67,192
15,687
7,667
1,738
0
7,857
805
10,800
0
0
15,266
59,820
7,372
7,000
62,101
76,473|Restricted
funds
£
0
0
0
0
0
7,000
0
0
7,000
0
0
0
0
0
0
0
0
0
0
0
7,000
(7,000)
1,000
1,000|Total
2021
£
18,492
1,680
62
4,260
4,950
42,599
0
2,149
74,192
15,687
7,667
1,738
0
7,857
805
10,800
0
0
15,266
59,820
14,372
0
63,101
77,473|Total
2020
£
0
625
0
4,490
3,900
22,908
0
1,948| |---|---|---|---|---| |||||33,871| |||||178
420
946
0
6,620
0
9,808
0
275
9,954| |||||28,201| |||||5,670
0
57,431| |||||63,101| The statement of financial activities includes all gains and losses recognised in the year. All incoming resources and resources expended derive from continuing activities. The notes on page 4 form part of these financial statements. F2 Surrey Hllls Intematlonal Mwk Festlval {tradI￿ as Investet Internatlonal Muslc Festlval) BALANCE SHEET Asat 30 Seplember 2021 2020 Current w•ts Debtors & prepayments Cash at bank 59.551 30.321 89,872 2,598 62.234 64.832 Credltors f•lllni du• wlthln an• Credltors & accruals 112.3991 11,7311 N•t current •ss•ts/lll•blllll•s) ri,473 63.101 Totsl asmts less curwent Il•blllil•• 77.473 63.101 Capltal & ￿￿r￿•S Restrlrted Income funds Unrestrlcted In¢ome funds 76.473 62,101 Totsl th•rlty funds 77,473 63,101 The notes on page F4 form part of these a¢counts. The flnanclal statements were approved by the trustees on 3 Decomber 2021. JulSa P Pearson Ch•lrm•n of trust•ffj On b•haff of th• trusts Surrey Hills International Music Festival (trading as Investec International Music Festival) NOTES TO THE FINANCIAL STATEMENTS For the year ended 30 September 2021 ## 1 Accounting policies ## Accounting convention The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008). They comply with the 2005 Statement of Recommended Practice for Accounting and Reporting by Charities. Charitable status was granted on 20 February 2012. The Festival became registered as a Charitable Incorporated Organisation (CIO) on 24 January 2017 and all activities of the previous charity were absorbed into the CIO with effect from that date. ## Incoming resources Incoming resources are accounted for when the charity has entitlement to the funds, certainty of receipt and the amount is measurable. Income is generated principally from the sale of tickets, programmes and refreshments at the festival concerts, together with donations from the Friends of the Investec International Music Festival and other donors and sponsors. ## Fund accounting Unrestricted funds are available to use to further any of the purposes of the charity. Designated funds are unrestricted funds which have been set aside to fund particular future activities of the charity. Restricted funds are donated for particular areas of the charity work or for specific projects. ## Resources expended Resources expended are recognised once there is a legal or constructive obligation to make a payment to a third party. The costs of each category of charitable activity are the direct costs of that activity, including any attributable VAT that cannot be recovered. Governance costs include all costs of compliance with constitutional and statutory requirements, including legal fees, insurance, the costs of meetings and other administrative support costs. ## 2 Taxation The charity is exempt from corporation tax as all its income is charitable and is applied for charitable purposes. |3
Debtors
Gift Aid recoverable
Sundry debtors & prepayments
4
Creditors falling due within one year
Creditors & accruals
5
Charity funds
Unrestricted
funds
£
Closing balances made up as follows:
Net incoming/(outgoing) resources
76,473
Restricted funds brought forward:
Commissioned work
0
76,473|Restricted
funds
£
0
1,000
1,000|2021
£
2,149
57,402
59,551
2021
£
12,399
12,399
Total
2021
£
76,473
1,000
77,473|2020
£
1,948
650| |---|---|---|---| ||||2,598| ||||2020
£
1,731| ||||1,731| ||||Total
2020
£
62,101
1,000| ||||63,101| F4