**Chiltern Arts 17 months to 31 August 2022** **REGISTERED CHARITY NUMBER: 1171596** ## **FINANCIAL STATEMENTS FOR THE 17 MONTHS TO 31 AUGUST 2022** ## **Contents** |**Contents**|| |---|---| ||Page| |About Chiltern Arts|2| |Chair’s Report|3| |Independent Examiner's Report|5| |Statement of Financial Activities|6| |Balance Sheet|7| |Notes to the Financial Statements|8 - 11| Page 1 **Chiltern Arts 17 months to 31 August 2022** **REGISTERED CHARITY NUMBER: 1171596** Address 9 Townsend Gate Berkhamsted HP4 2FZ Trustees who served during the year David Peter Lillycrop (Chair) Anne Bolton (appointed 7[th] March 2022) Rev’d Canon Rosie Harper Alexander Taylor George Vass (appointed 7[th] December 2021) Christopher Glen Whitehead FCA (resigned 13[th] June 2022) Creative Director Naomi Taylor Objects of Chiltern Arts To advance the education of the public in the arts in all its branches, particularly music, literature and visual arts. To promote the arts for the benefit of the public, particularly, but not exclusively, by the establishment of an annual series of events (a Festival) that aims to advance excellence in the arts as specified above. Page 2 **Chiltern Arts 17 months to 31 August 2022** **REGISTERED CHARITY NUMBER: 1171596** ## **Chair’s Report** There is a view in the world of the performing arts that a festival’s fifth birthday is a significant event. An organisation like Chiltern Arts faces so many challenges in getting established, and securing early recognition and support, that survival to the half-decade point is a cause for celebration. We passed that milestone in style this year: the splendid 2022 festival, themed around folk tales, magic and mystery, was our fifth and confirmed, we hope and believe, that Chiltern Arts is here to stay. The 2022 Season was in two parts: our usual format, although the scheduling of the ‘taster’ weekend for February and the week-long main event for May was new. Feedback on the revised timings has been positive, and it is our intention to continue with broadly these dates in future seasons. It is to accommodate this new approach that we have moved our financial year end to 31 August, resulting in a seventeen-month reporting period on this occasion. February 2022’s weekend of music included a fine evening with both the Corvus Consort and the Ferio Saxophone Quartet; the programme included a Chiltern Arts commission, namely Vaughan Williams’ _In Windsor Forest_ arranged for choir and saxophones. The celebrated choir Tenebrae sang for us again, this time in atmospheric Dorchester Abbey; their _Sounds of the Solstice_ programme included music for harp (played by Olivia Jageurs) with the timely inclusion of a piece by a Ukrainian composer entitled _Prayer for Peace._ Continuing the Vaughan Williams theme, in the year marking the 150th anniversary of his birth, the May festival began with a stunning Choral Discovery Day and concert in which The Carice Singers, under the direction of George Parris, featured the work of the great man and of his underappreciated Swedish contemporary, Hugo Alfvén. Other highlights of the week included three string quartets – one of them Schubert’s _Death and the Maiden_ – from the talented Albion Quartet; a scintillating evening of _Silver Baroque_ from the two remarkable sopranos of Fair Oriana; and a virtuoso recital, at Wycombe Abbey School, by the 19 year old Jeneba Kanneh-Mason, just months after her triumphant solo debut at the BBC Proms. If audience reaction is a measure of success, the combined brilliance of Catrin Finch on the harp and Seckou Keita on his Senegalese kora was clearly another concert to remember. I must not allow those happy recent memories to displace the equally pleasing ones from the May 2021 festival – _Striking a Chord: Musical Resonance_ – which, having been a little delayed by COVID lockdowns, also falls to be mentioned in this report. Highlights here included the celebrated pianist Clare Hammond’s programme of music inspired by her work in prisons; a spectacular rendition of Bach’s _Goldberg Variations_ by Mahan Esfahani; and an evening of Mendelssohn, Britten and Wagner with the City of London Sinfonia, performers at all five of our festivals to date. I commented last year on the financial challenges faced by charities like this one, and the external funding environment has certainly not improved. We are delighted that we now have more members than ever before, including a larger number of those in our treasured _Gold_ category, and we are thrilled to have our first commercial sponsor, Savills, the property experts, whose banners were to be seen at our events in Henley and Marlow this year. Even so, we continue to face severe funding pressures and are constantly on the lookout for new income generation opportunities, provided of course that they are consistent with our goals and principles. Page 3 Chiltern Arts 17 months to 31 August 20Z2 REGISTERED CHARITY NUMBER: 1171596 l am fortunate to chair a board of wise and committed trustees. We recently said farewell to our long-serving Hon. Treasurer, Chris Whitehead.. Chris helped guide the charity through some challenging times and deserve5 our thanks. We are very pleased to have prevailed on Anne Bolton, an experienced trustee and executive, to join the group and to succeed Chris in the financial hot seat. l am delighted too that George Vass joined the trustee5 late last year: George is not only a distinguished orchestral conductor and director of choirs, but has served for some 30 years as Artistic Director of the prestigious Presteigne Festival. To all the trustee5, and to all the members of the hard-working Chiltern Arts team, I send my thanks. Finally I must pay tribute to the dedicated individual primarily responsible for our first five successful vears. Naomi Taylor founded Chiltern Arts and continues to lead our endeavours as Creative Director,. she now has yet another achievement to her name, having been successful in gaining a fully-funded place to study for a PhD through a consortium of Midland5 universities, in partnership with the British Arts Festivals Association IBAFAI, with the working title Re- imogining the Arts Festivol in times of crisis. Chiltern Arts, own sijrvival through the challenges of COVID, without a 5ingle105t performance, would seem to qualify her as an expert in this field I David Lillycrop Date.. zl',z} Page 4 Chiltem Arts 17 months to 31 August 2022 REGISTERED CJIARfTY NUMBER: 1171596 Independent examinees report to the Tn￿ee$ of Chiltern Arts I report to the charity trustees on my examination of the accounts of Chiltern Arts I'the TrusVI for the 17 months to 31 August 2022. Responsibilrties and basis of report A5 the charbty trustees of the Trust you are responsible forthe prepardtion of the accounts in accordance with the requirements of the Charities Art 2011{'the Act')- I report in respert of my examination of the Trust's accounts carried out under sertion 145 of the Act and in carrying out my examination I have followed all applicable Direttions given by the Charity Commission under settion 145{5llb ) of the Act. Independent examiner's statemert I have completed my examlnation. I confirm that no material matters have come to my attention in connertion with the examination giving me cause to believe that in any material respect: accounting records were not kept in ￿SpeCt of the Trust as required by section 130 of the Act: or 2. the accounts do not accord with those retords." or 3. the accounts do not comply wtth the applicable requirements concernin8 the fom and content of accounts set out in the Chartties (Accounts and Reports) Regulations 21J)8 other than any requirement that the accounts gNe a true and fair view which is not a matter considered as part of an independent examination. I confirm that apart from the change of the method of preparation of the accounts from the accruals to the cash basis las mentioned under Accounting Policies and note 61 there are no other matters to which your attention should be drawn to enable a proper understanding of the accounts to be reached. M.G. Wortley Bramble Lodge Colstrope Lane Hambleden RG9 6SL Page 5 **Chiltern Arts 17 months to 31 August 2022** **REGISTERED CHARITY NUMBER: 1171596** ## **Statement of Financial Activities for the period 1 April 2021 to 31 August 2022** |Notes
**Income from**
Donations & Sponsorships
**Charitable activities**
Concerts
10
Saint Nicolas Project
Grants
11
Membership Fees
10
Other trading activities
2
**Total Income**
**Expenditure on Charitable**
**Activities**
Concert Costs
Publicity
Consultants & expenses
Insurance
Sundries inc. Depreciation
Saint Nicholas Project
**Total Expenditure**
**Net Income / (Expenditure)**|**1 April 2021**
**to 31 August**
**2022**
**1 April 2020**
**to 31 March**
**2021**
**£**
**£**
28,519
5,628
44,993
4,542
0
21,338
21,100
2,234
5,140
1,340
71,233
29,454
(40)
0
**99,712**
**35,082**
72,915
5,034
6,229
1,879
11,952
11,008
1,868
741
1,558
993
0
20,998
**94,522**
**40,654**
**5,190**
**(5,572)**| |---|---| The notes on pages 8 to 11 form an integral part of these financial statements Page 6 Chiltern Arts 17 months to 31 August 2022 REGISTERED CHARifi NUMBER: 1171596 Balance Shttt as at 31st Aug 2022 31st March 2021 FIXED ASSETS Tan8ible Assets CURRENT ASSETS Debtors Cash at Bank Cash in Hand 1.581 16,113 16,430 250 16.680 17.694 CREDITORS Amounts fallin£ due within one year 162041 NET CURRE￿ASsET$ 16.680 11.490 TOTAL ASSETS LESS CURREPU UABIUTIES 16.680 11.490 CREDITORS Amounts falling due after more than ofte year 1901￿) 190,(￿]) NET ASS￿51 IUABILinESI 173,3201 178,5101 FUN05 Llnrestricted funds b/f 1785101 1729381 Surplus for Year 15,5721 TOTAL FUNDS at year end 173320) 178,510} The financial statements were approved by the Board of Trustees on were signed on its behalf by.. and Anne Bolton - Trustee The notes on pages 8 to li form an integral part of these financial statement5 Page 7 **Chiltern Arts 17 months to 31 August 2022** **REGISTERED CHARITY NUMBER: 1171596** ## **Notes to the Financial Statements for the period 1 April 2021 to 31 August 2022** ## **1. ACCOUNTING POLICIES** ## **Basis of preparing the financial statements** The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2015)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities Act 2011. The financial statements have been prepared under the historical cost convention. ## **Going Concern** The accounts have been prepared on the going concern basis as the trustees consider that there are sufficient cash resources for the charity’s operations to continue beyond the next 12 months. As will be seen from note 8 the substantial loan is on generous terms with an expected repayment date in excess of 5 years ## **Income and expenditure** At a meeting of the Trustees on the 12th September 2022 it was decided to adopt the cash basis for the ongoing preparation of the charity’s accounts. On the accruals basis the surplus for the 17 months to 31 August 2022 would increase by £680 to £5,870 (see note 6) ## **Tangible fixed assets** Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life. Plant and machinery 25% of cost All tangible fixed assets are completely depreciated at the balance sheet date. ## **Taxation** The charity is exempt from tax on its charitable activities. ## **Fund accounting** Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees. Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes. ## **Pension costs and other post-retirement benefits** The Charity has one employee who earned less than the pensionable threshold. Consequently, the Trustees do not provide a workplace pension scheme. Page 8 **Chiltern Arts 17 months to 31 August 2022** **REGISTERED CHARITY NUMBER: 1171596** ## **2. OTHER TRADING ACTIVITIES** ||**1 Apr 2021 -**|**1 Apr 2020 -**| |---|---|---| ||**31 August 2022**|**31 March 2021**| ||**£**|**£**| |Advertising|200|0| |Prior year adjustment|-240|0| |Net advertising income|-40|0| ## **3. TRUSTEES’ REMUNERATION AND BENEFITS** No fees were paid to a Trustee during the period. (2021 £nil) ## **4. STAFF COSTS** The charity had one employee during the period (2021: 1) who has waived her right to salary and benefits. ## 5. **TANGIBLE FIXED ASSETS** |**Cost**
**Depreciation**
Balance b/f
Charge for year
Balance at year end
**Net Book Value at Balance Sheet Date**|**At 31**
**August**
**2022**
**At 31**
**March**
**2021**
£
£
840
840
840
630
0
210
840
840
0
0
**Plant & Machinery**| |---|---| Page 9 **Chiltern Arts 17 months to 31 August 2022** **REGISTERED CHARITY NUMBER: 1171596** ## **6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR** ||**31 August 2022**|**31 March 2021**| |---|---|---| ||£|£| |Gift Aid|0|1,417| |Prepayments (insurance)|0|163| ||0|1,581| If debtors were accounted for on an accruals basis, as was the case in the y/e 31 March 2021, then Gift Aid would be £100 and insurance prepayments £580 for the extended y/e 31 August 2022 ## **7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR** |||**£**|||**£**| |---|---|---|---|---|---| ||**31**|**August**|**2022**|**31**|**March 2021**| |Tickets paid in advance||0|||6,204| ## **8. LOANS** |Loans repayable between 5 and 10 years
Balance at start of year
Loans made in the year
Repaid in year
Balance at end of year|90,000
90,000
0
0
0
0
90,000
90,000| |---|---| The lender has confirmed their intention not to call for repayment, in whole or in part, before October 2031. If their intention should change at any time, they will endeavour to give the Charity at least 12 months’ notice thereof. The loan is interest free. ## **9. RELATED PARTY DISCLOSURES** Donations from Trustees were: |Donations from Trustees were:||| |---|---|---| ||**1 April 2021**|**1 April 2021 -**| ||**31 August 2022**|**31 March 2021**| |David Lillycrop|12,500|-| |His Honour Christopher Tyrer DL|-|2,026| ||12,500|2,026| ## **10. Covid 19** The social restrictions resulting from the pandemic meant that we were unable to hold a festival during the previous financial year. Consequently, income from concerts, grants and memberships, and associated costs, do not show a meaningful like-for-like comparison with the prior year. Page 10 **Chiltern Arts 17 months to 31 August 2022** **REGISTERED CHARITY NUMBER: 1171596** ## **11. GRANTS** The following trusts or organisations gave their financial support to Chiltern Arts over the period: Scops Arts Trust Foyle Foundation Buckinghamshire Council Dacorum Borough Council The Worshipful Company of Musicians The Vaughan Williams Charitable Trust The Carrington Charitable Trust Marlow Town Council Page 11