RYE ARTS FESTIVAL CIO Re8lstered charlty no. 1175309 Trustees, Report and Flnanclal Statements For the year ended 31 December 2023 CHAT5WOOD ASSOCIATES Abingworth New England Lane Rye, East Sussex TN317NT
RYE ARTS FESTIVAL CIO Trustees, Report and Financial Ststements For the year ended 31 December 2023 Contents Pa8e Charity information Trustees, Report Independent Examiner's Report Statement of Financial Activities Balance Sheet Note5 to the Financial Statements 9-13
RYE ARTS FESTIVAL CIO Trustees, Report and Financial Statements For the year ended 31 December 2023 Charity Infomiation Trustees: Andrew Stuart Linda Harland John Case David Angell Arabella Ansar Michael Boyd Until 13-Mar-23 Until 16-Nov-23 Appointed 13-Mar-23 Appointed 13-Mar-23 Reglstered CharSty Nurnber: 1175309 Reglslered address: Abingworth New England Lane Rye, East Sussex TN317NT Accountants: Chatswood Associates Abingworth New England Lane Rye, East SussexTN317NT Maln Bankers: CAF Bank Ltd 25 Kings Hill Avenue Kings Hill West Malling Kent ME19 4JQ
RYE ARTS FESTIVAL CIO Trustee< report for the year ended 31 December 2023 The Trustees present their report with the financial statements for the Charity for the above period. The financial statements of the charity which is a Charitable Incorporated Organisation ICIOI have been prepared in accordance with the Charities SORP IFRS1021 "Accounting and Reporting by Charities.. Statements of Recommended Practice" applicable to charities preparing their accounts in accordance with 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. OBJECTS AND AcfiviTIES The objects of the charitable incorporated organisation are to a¢fvance education for the public benefit by promoting and providing Opportunities for the appreciation. understandin8 and enjoyment of the arts and in particular music, opera, dance, film, literature and the visual arts. throu8h an annual arts festival in and around Rye, and other activities from time to time. STRucfuRE GOVERNANCE AND MANAGEMENT Governlng Document Rye Arts Festival CIO, formerly Rye Arts Festival, was constituted by the Constitution dated 16 October 2017. The CIO took over from the Rye Arts Festival charity no 270474 on l January 2018. Appolntment of Trustees The maximum number of Trustees is eight. Trustees serve for a three-yeor period retirin8 by rotatlon and are decided by the members at Annual General Meeting. Vacancles between AGMS may be filled by the existing Trustees. Trustee Induction and tralnin8 New Trustees are provided with information on structure, business plans and recent financial performance of the CIO and are encouraged to consult with the Officers to facilitate the understandin8 of their role. Organlsatlon The Board of Trustees is responsible for the management of the CIO. It regularly considers the operational risk5 that the Charity faces and is satlsfied that it has adequate system5 in place to minimise their impact. The Board has appointed, on an annual basis. a Festival Organising Committee and monitors its compliance with standing order5 and terms of reference. Health & Safety In 2017 the Trustees established a Health and Safety subcommittee to advlse on policy and implementatlon. All appropriate personnel undergo first aid trainin& and our Sta8e Manager has undergone specialist Safeguarding training. All venues used in the Festival are risk assessed. The subcommittee regularly review the insurance policy to ensure adequate cover. ACHIEVEMENTS AND PERFORMANCE The 2023 Festival was a succe$5 on many levels. It brought talkers and performers with a national and international reputation to the Rye audience. showcased the very best of local talent from across the different fields of arts- achieved a MUcneeded surplusto help Secure the Festival's financial future; and, thankfully, avoided the interruptions of recent yearsl The programme included many local authors and people with a story to tell. Anwesha Ayra talked about how Rye has inspired her from her first visit in 1997 and 'Writing Rye in Light, is Anwesha'5 latest book is a collaboration between photography and poetry. The Festival was delighted that Dr Pat Argar returned to continue her insighfful talks into the writers who lived and wrote in our area. She also gave a fascinating and entertainin8 talk about Hop Picking in and around Rye.
RYE ARTS FESTIVAL CIO Trustees report (continued) ACHIEVEMENTS AND PERFORMANCE Icontinuedl Chris O'Donoghue talked about desi8ning and building gardens at the Chelsea Flower Show - he has three medal-winning gardens to his namel The author William Shaw has deservedly been called 'a modern crime masterf. and while he's not a local his brilliantly drawn detective DS Cupidi is! There was a whistl&stop tour through the life and work of Sir Reginald Blomfield, an extraordinary Rye resident, by his great granddaughter, Isabel Ryan. Local resident, Miriam McGuirk. talked about her latest book Second Chances to an appreciative audience in the Mermaid's Tudor Room. Jens Knoop opened his first chocolate Shop in Rye just before the pandemic and expects to have 15 across the UK before the end of September and he entertained an audience about his Ilfe before chocolate and his many influences including architecture, philosophy and Japanese cinema, whlch lead up to his excitin8 new venture. Stephen Kember. who has an antique5 shop on Cinque Ports Street in Rye, is nationally well-known for his work on the 8BC's hit show The Repair Shop, where he is the in-house muslcal box restorer. Stephen was in conversation with Rye's pianola specialist Mike Boyd. The Festival included a selection of walks. fimberlina, Rye's resldent bearded lady. lead three walking tours around the town highlighting landmarks and houses associated wilh salacious gossip and intrigue. Timberlina also h05ted a Bingo Night. Paul Goring, who is Rye's wonderful Town Crier, led an atmospheric ghost walk on a couple of evenings and also dld daytime walks showing the hidden history of Rye. After nearly 25 years Mike Boyd brought the Pianola concert back to Rye Arts Festival.And what a performance he gavel The first half featured muslcal Interpretations on the Planola, and the second hall featured a Reproduting pianol And drama is always present at Rye Arts FestNal, with the Rye Players once agaln leadlng the way with a performance at the Tudor Room in the Mermaid Inn. 'Book Club,, which is about a local dysfunctional book club, was a tour de forcel A total triumphl Martin Wimbush and Sally Bayly and friends came back on the kst weekend of the Festival. With 50n85, poems, reading and laughter. Celebrating the 90th anniversary of the release of Kin8 Kon8, we screèned the movie at the Kino, wlth special introductory talk by our local monster expert and number one fan. Oliver Brooks. The Classical Musit programme was varied and focussed on young musicians. It kicked off with a wonderful concert on Saturday 16th September by the acclaimed Britlsh pianist Cordelia Williams. The Festival was delighted that Cordelia was able to perform in 2023 as her concert had to be cancelled at short notice in 2022 owing to the sad death of Queen Elizabeth11. And also with a re-arranged concert we enjoyed the Ensemble Hesperi. whose concert was of Venetian Baroque composers inspired by Canaletto's famous views of Venice. The COnrt was brought to Rye in partnership with the City Music Foundation ICMFI, which helps promote rising youn8 talents. CMF was also instrumental in the Mikeleiz-zucchi Duo concert featuring saxophonist David Zucchi and Spanish accordionist lfiigo Mikeleiz-Borrade. And those who came to See and hear the young Lithuanian pianist Gabriele Sutkutè to Rye were served up a real treat. Her musicianship was truly extraordinary, and we were lucky to enjoy a concert from a future star. There was an awesome foursome of folk and blues music concerts. with the Errol Linton Blues Vibe gig selling out within days of going on sale. Rye Community Centre also played host to Martin Simpson, the legendary
RYE ARTS FESTIVAL CIO Trustees report (continued) ACHIEVEMENTS AND PERFORMANCE Icontinued) folk singer/guitarlst, who made a triumphant third visit to Rye. Last year, the Rye audience was looking forward to the Fay Hield Trio's gig, but it had to be cancelled at the last minute owing to a tragedy affecting the band. so we were delighted that they were able to come to Rye for this Festival. Fay has one of the finest voices of her generation and is supported by Sam Sweeney lex Bellowheadl on fiddle and Rob Harbron, hernlded by The Guardian as a 'concertina Wizard,. Enthusiasts of down-home Mississippi blues loved the pure atmosphere created by Kelvin Davies and Gary Jones. Turning to the movies, 50 years after its release, we offered a golden anniversary screening of The Stin8' the film that reunited Paul Newman and Robert Redford after'Butch Ca55idy and The Sundance Kid,. Going back further in time, in partnership with Rye Film Club we presented a double bill of black and white films, both shot locally - The Loves of Joanna Godden, and The Quiet Woman,. A packed audience at Rye Community Centre was enthralled! Turning to books and talks, wine writer Henryjeffreys spoke about the amazlng success story of Engllsh wlne, much of It produced on our doorstep. Sarah Stanfield was 'Barmy in Wonderland. exploring the INes and wrlting of PG Wodehovse and Lewis Carroll and reveals the many connections between the two authors. The audience was spell-bound and educated by her talk. A youn8er Imainly female) audience joined Louise Boyce, mother of three and a model, to hear her tell tales from her debut book in the intimate surroundings of Rye Brewery Yard Club. It was a hurtllng gallop through the 'Teal' parenting calendar, covering the hi8hs and lows of modern motherhood. Patrick Diamond talked about the Labour Parfs past clvil wars. and Rye Rugby Club hosted rugby wrlter Peter Bills for an affectionate history of the rugby across the channel published to coincide wSth France hosting the 2023 Rugby World Cup. Moving on to drama, which was headed by an award-winning actress, Melanie Gall, who flew in especially from the US to perform at Rye. She performed 'ln8énye. Judy Garland and Deanna Durbin, which told the true tale of the lifelong friendship - and rivalry - between Durbin and Garland. Melanie a150 performed 'A Talent to Amuse'_ a play about the fascinating true story of Noel Coward's irreverent and unforgettable life. featurlng a d02en Iconlc songs, including 'Mad About the Bow, and 'Mad Dogs and Engllshmen,. Hoather Alexander. fresh from winning awards at Buxton Festival, presented 'ROOM.. A Room of One's Own,, a one-woman-play about Wirginia Woolf in 1929 as she haunts the shadows of Oxbridge. Volunteers Member5 and Sponsors The Organiser5 and Trustees of Rye Arts Festrval are delighted by and thankful for the loyal support of our Members, Benefartors, sponsors and advertiser5 whose generosity gives the Festival's finances a huge boost before the tickets 80 on sale and whose contrfbutions allow us to bring world class acts to Rye and charge very reasonable ticket prices, thebY meeting our charitable objective of promoting the arts and providing experiences which will encourage people to participate. The Trustees would also like to thank all the members of the Organising Commlttee and volunteers, without whom we could not put on the festival. FINANCIAL REVIEW The accounts for the year ended 31st December 2023 are attached to this report. These show a surplus of £18,77312022 £5.8061. This consisted of a surplus for 2023 of £11,985 and a write back of unneeded accruals from the previous year of £6,788. This surplus has meant that the CIO'S reserves have increased to £50,712, whlch is a much healthier level. The Trustees believe that the appropriate level of reserves would be around
RYE ARTS FESTIVAL CIO Trustees report (contlnuedl FINANCIAL REVIEW Icontinuedl which is a much healthier level. The Trustees believe that the appropriate level of reserves would be around £60,000, which would enable the festival to survNe a disastrous year should the festival have to be cancelled at the last minute. Reserves Poticy The poliry of the Trustees is to maintain suffitient reserves. which in the opinion of the Trustees, allow them to cover management and administration costs and plan for future years, Festivals. Investment power5 and pollcy The Trust Deed authorised the Trustees to make and hold investments Using the General Funds of the CIO. The Trustees havlng regard to the cash flow requirements of the Charity keep available funds in interest bearing accourbts. Trustees, responsibilities In relatlon to the flnanclal statsments The charity trustees are responsible for preparing a trustees. annual report and financial statements In accordance with applicable law and United Kingdom Accounting Standards (United Kin8dom Generallv Accepted Accounting Practice), for keeping proper accounting records which disclose. with reasonable accuracy at any time, the financial position of the charity and which enable them to ensure that the financial statements of the charity comply Wilh Charlty Commission guidance and for maintenance and integrity of the corporate and financial information included on the charitV5 website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions. FUTURE PLANS We continue to seek new trustees. The Board will be seeking to broaden audience base and introduce rsew forms of event whSch will help achieve an increase in revenue. The Trustees are keen to develop the membership base and to Increase involvement by them in the Festival. APPROVAL This report was approved by the Trustees and slgned on their behalf. Andy Stuart, Trustee 24January 2024
RYE ARTS FESTIVAL CIO Independent Examiners Report to the Trustees I report on the unaudited accounts of the charity for the year ended 31 December 2023 set out on pages 6 to 12. Respective Responsibilities of the Trustee5 and the Independent Examiner The charity's trustees are responsible for the preparation of the actounts. The charity's trustees consider that an audit 15 not required for this period under section 144121 of the Charities Act 2011lthe 2011 Act) and that an independent examination is needed. It Is my responsibility to.. examine the accounts (under section 145 of the 2011 Act.. follow the procedures laid down in the general Direction5 given by the Charity Commission (under section 1451511bl of the 2011 Act, and state whether particular matters have come to my attention. Basis of Independent Éxamlner's Report My examination was carried out in accordance with the 8eneral Dirertions given by the Charity Commi5s10n. An examination includes a revlew of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts and seeklng explanations from you a5 trustees concefnin8 ony Such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and consequently no opinion is given as to whether the accounts present a 'true and falr view,, and the report is Ilmited to those matters is set out in the statement below. Independent Examlnerfs Statement In connection with my examlnation, no matter has come to my attention.. 111 whlch gives me reasonable cause to believe that in any material respect the requirements.. to keep accounting records in accordance with sectlon 130 of the 2011 Act- and to prepare accounts which accord with the accountin8 records and comply with the accounting requlrements of the 2011 Act have not been met,. or 121 to which, in my opinion, attention should be drawn in order to enable a proper understanding of the account5 to be reached. Davld Andrews ACIB, MCICM. FCT Chatswood Associates Abingworth New England Lane Rye, East Sussex, TN317NT 25January 2024
RYE ARTS FESTIVAL CIO Statement of Financial Activities for the year ended 31 December 2023 Unrestrlrted Funds Notes 2023 2022 Income: Donations Charitable activities Investment income Membership 10,884 57,970 232 6.150 21,69) 46,913 26 6.445 Total income 75,236 75,074 Expendlture.. Charitable Activities 56.463 69,268 Total expendlture 56,463 69,268 Net Sncomel {expenditure) belng net movement of funds for the perlod 18.773 5.806 Reconclllatlon of funds Total funds brought forward at l January Total fund5 carrled forward at 31 December 31.939 26,133 50,712 31,939 The accompanying notes fomi part of these financial statements.
RYE ARTS FESTIVAL CIO Balan Sheet as at 31 December 2023 Note5 20Z3 2022 Fixed assets io Current assets Debtors li 8,SiXI 62,354 8,504 50,689 Cash at bank and in hand 14 70,854 S9,193 Creditors 12 20,142 20,142 27,254 27,254 Net current assets 50,712 31,939 Total assets less current Ilablllde5 50,712 31,939 Funds Unrestricted funds 15 50,712 31,939 Approved by the Board of Trustees on 24 January 2024 and si8ned on it5 behalf by Alkn- Andy Stuart. Trustee The accompanying notes form part of these financial statements.
RYE ARTS FESTIVAL CIO Notes to the financial ststements for the year ended 31 December 2023 Accounting Pollcles 1.1 Basis of preparation of accounts The financial statements of the charity, which is a public benefit entity under FRS102, have been prepared in accordance with the Charities SORPIFRS1021 'Accounting and Reporting by Ch3rities.' Statements of Recommended Prartice applicable to charities preparin8 their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS1021 (effective l January 20151,, Financial Reporting Standard 102 'The Financial Reporting Standard applicable to the UK and Republic of Ireland, and the Charities Act 2011. The financial statements have been prepared under the historical cost convention. 1.2 Tanglble fixed ats for use by the charity and depreciatlon Tangible fixed assets costing at least £5CK) for use by the charity are stated at cost less depreciation. Depreciation is provided at rates calculated to wrtte off the cost or valuation of fixed assets, less their estimated residual value, over the expected useful lives on the following basls- Equlpment and software 1.3 Income recognltSon pollcles Items of income are reco8nised and included in the accounts when all of the following criteria are met: The charity has entitlement to the funds any performance condition5 attached to the itemlsl of income have been met or are fully within the control of the charity there Is sufficient certainty that recelpt of the Income Is considered probable the amount can be measured reliably. 1.4 Interest recelvable Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity.. this is normally upon notification of the interest paid or payable by the bank. 20% pa straight line basis 1.5 Fund accountln Unrestricted funds are available to spend on actNitie5 that further any of the purposes of the charity. 1.6 Expendlture and Irrecoverdble VAT Expenditure is recognised once there is a le8al or tonstructrve obligation to make a payment to a third partyi it is probable that settlement will be required, and the amount of the obligation can be measured reliably. Expenditure is c1055ified under the following activity headin8'. Expenditure on charitable activities includes the costs of events and educalional activities undertaken to further the purposes of the charity and their associated 5UPPOrt costs. Irrecoverable VAT is charged as a cost against the activity for which the expenditure was incurred. 1.7 Allotatlon of sUPPOrt costs Support costs are those functions that assist the work of the charity but do not direttly undertake charitable artivities. Support costs include back-office cost5, finance, and governance costs which support the Charity's artistic programmes and attivities.
RYE ARTS FESTIVAL CIO Notes to the financial statements (continued) for the year ended 31 December 2023 1.8 Debtors Trade and other debtors are recognised at the Settlement amount due after any trade discount offered. Prepayments are valued at the amourbt prepaid after taking account of any trade discounts due. 1.9 Cash at bank and in hand Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of one yearor lessfrom the date of acquisition or opening of the deposit or similar account. 1.10 Credftors and provlslons Creditors and provisions a recognised where the charlty has a present obligation resultlng from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditor5 and provlsions are nomially recognised at their settlement amount after allowing for any trade dlscounts due. 1.11 Financlal Instruments The charity only had financial assets and financial liabilities of a kind that qualify as basic financlal instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value. 1.12 Volunteers The Festival is run almost entirely by unpaid volunteers and their input continues to be a key element in the Festival's akmlity to control expenditure. Donatlons 2023 2022 Sponsorship Donatlons Gift aid claimed 7,980 560 2,344 10,884 17,980 611 3,099 21,690 io
RYE ARTS FESTIVAL CIO Notes to the financial statements {continued) for the year ended 31 December 2023 2023 2022 Charitable artlvltles Income Ticket and programme sales Bars Inetl Advert15ing revenue Other income Inon-festivall Total Income 51.230 1,420 5.320 39.968 6.905 57.970 46,913 Less expenditure Direct cost of events Prior year costs Orher Festival expenses Printing and design Publicity expenses Other costs Inon-festivall Total expendlture Net income/lc05tsl Festival sponsorshlp Inote 21 Festival surplus/ Ideftcitl 36,840 16.7881 1,421 8,547 7,735 78 43.243 9,148 47,833 10,137 7.980 18,117 59,217 112,3041 17,980 5,676 Expendlture Direct costs Governance costs (note 61 Support costs Inote 51 47.833 276 8,354 56.463 59,217 560 9,491 69,268 Membershlp and support costs Advisors Stationery and postage Web51te costs 127 3,424 583 2,128 97 5,133 SLsbscriptions and sundry expenses Insurance Travel c05t5 Accountancy Telephone Bank charges Depreciation 2,131 25 750 95 750 121 1,221 1,148 112 8,354 9,491 li
RYE ARTS FESTIVAL CIO Notes to the financial statements (continued) for the year ended 31 t)ecember 2023 Governance costs 2023 2022 Committee expenses AGM costs 363 197 276 276 560 Staff costs No remuneiation was paid to staff costs In the year. Tru5tees' expenses There were no Trustee expenses durlng the period. Related party transactlons There were no related party transactions durin8 the year. io Flxed assets for use by the Charlty Equlpment Software Total Fixed Assets At I january 2023 Additions Disposals At 31 December 2023 552 552 552 552 Depreclatlon At ljanuary 2023 Charge for year At 31 December 2023 552 552 552 552 Net book value 2023 2022 li Debtors Trade debtors Prepayments GiftAid 8,5LKI 8,500 8,5CK) 8,504 12 Current liabilitie5 Sundry creditors 20,142 20,142 27,254 27,254 12
RYE ARTS FESTIVAL CIO Notes to the financial statements (continued) for the year ended 31 December 2023 13 Investment Incorne All of the charity's investment income arises from money held in interest bearing deposit accounts. 14 Cash at bank and In hand 2023 2022 CAF Bank Lloyds Bank PayPal Cash in hand 34,548 26,944 862 14,516 32.971 3,202 62,354 50,689 15 Analysls of charitable funds Analysis of movements in unrestricted funds Funds at 01-Jan-23 Funds at Income Expendlture 31-Dec-23 General Fund 31,939 75,236 156,4631 $0,712 16 Taxatlon As a registered charity, the Festival is exempt from tax on charitable acrivity. 13