RYE ARTS FESTIVAL CIO Reilstered charlty no. 1175309 Trustees, Report and Financlal Statements For the year ended 31 December 2024 CHATSWOOD AssoaATES Ablngworth New England Lane Rye, East Sussex TN317NT
RYE ARTS FESTIVAL CIO Trustees, Report and Financial Statements For the year ended 31 December 2024 Contents Page Charity information Trustee5' Report Independent Examiner'5 Report Statement of Financial Actlvities Balance Sheet Notes to the Financial Statements 8-12
RYE ARTS FESTIVAL CIO Trustees, Report and Flnancial Statements For the year ended 31 December 2024 Charlty Infomiati Trustees: Andrew Stuart David Angell Arabella Ansar Michael Boyd Reglstered Charlty Number: 1175309 Re81stered address; Abin8WOrth New En8land Lane Rye, Easi Sussex TN317NT Accountants: Chatswood Associates Abingworth New England Lane Rye, East Su55ex TN317NT Maln Bankers.. CAF Bank Ltd 25 Kings Hill Avenue Kings Hill West Malllng Kent ME19 4JQ
RYE ARTS FESTIVAL CIO Trustees, report for the year ended 31 December 2024 The Trustee5 present their report with the financial statements for the Charity for the above period. The financial statements of the charity which 15 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. 08JEcfs AND AcnvmES The objects of the charitable incorporated organisation are to a(fvance education for the public benefit by promoting and providing Opportunities for the appreciation, understanding 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 ANO MANAGEMENT Governin8 Document Rye Arts Festival CIO. formedy 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. Appolntm¢nt of Trustees The maximum number of Trustee5 is eight. Trustees serve for a three-year period retiring by rotation and are declded by the members at Annual Genernl Meeting. Vacancles between AGMS may be filled by the existing Trustees. Trustee Inductlon and tralnlng 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 understanding of their role. Or8anlsatlon The Board of Trustee5 is responsible for the mana8ement of the CIO. It regularly considers the operatlonal risks that the Charity faces and is satisfied that it has adeqvate system5 in place to minimise their impact. The Board has appointed. on an annual ba515. a Festival Organising Committee and monitors its compliance with standing orders and terms of reference. Health & Safety In 2017 the Tru>tec> est•blished a H••lth and S*fèty subcomrnitt•• to advi%• on policy and implèmentation. All appropriate personnel undergo first aid trainin8, and our Stage Manager has under8one 5pecialSst Safeguarding training. All venues used in the Festival are risk a55essed. The subcommittee regularly review the insurance policy to ensure adequate cover. ACHIEVEMENTS AND PERFORMANCE The 2024 Rye Arts Festival, in our view, was a succe55 on many levels. Firstly, the Festival has reported a reasonable surplu5 for 2024 which, wlth the previous yearfs result, has helped rebuild the Festival's finances to a sustainable level. Our reseThes are very nearly at the same amount as one yearfs Festival costs- a level that the Trustees believe is prudential and would help us survive a repeat of such recent shocks as the death of the monarch on the eve of a Festival and cancellation due to pandemic. The Trustees acknowledge what an excellent job the organising committee had done in recent years to reduce costs. whilst continuing to deliver a broad range of events with uncompromi5ed high standards. Ticket sales across the Festival stood up well as we once again brought international and local artistes to our audience.
RYE ARTS FESTIVAL CIO Trustees report Icontinued) ACHIEVEMENTS AND PERFORMANCE Icontinuedl Lookin8 at the dlfferent categories that make up the Festival. classical music remains at its heart. The organisers were pleased to welcome back the Piatti Quartet. on the 10th anniversary of their initial appearance in Rye as the Quartet in Residence in 2014. They gave two concerts - one in St Marfs Church. Rye and the next night in St Thoma5. Winchelsea, the second of which was in memory ol former Rye Arts Festival classical music director Peter Brice who had firsi brought them to Rye. We were also thrilled to welcome back, by popular demand, the young Liihuanian pianist Gabriele Sutkute. Her musicality, emotion and choice of programme in 2023 left the lucky audience members demanding that we should bring her back, and soon. Around three times as many came to witness her 2024 concertl There was also short concert and a Q&A with Teddy Otieno. a young Kenyan pianist who had appeared on the TV Programme The Piano. Cri5pian Steele-Perkins. a venerable British classical trumpet player of global reputation. gave a memorable concert at St Marf5. And Michael 8oyd entertained wlth a pianola concert featurlng Gershwin's Rhapsody in Blue and other jazz stondards. The Traditional and Contemporary team's programme Served up recently reformed Le Rue, 8ritain'5 finest players of Zydeco and Cajun music; the British 8Uitarist Steve Tilston,. middle American troubadour Ben Bedford,. Struggle Bu88y, from Sunderland, played down good-time blues from pre-war Chicago,. and An Dannsa Dub, who combined traditional Scottish music dub re88ae fusion got the Rye Community Centre on Its feel and skanklng. Books and talks were wide ranging. with a highlight being best5elling Robert Harris whose latest novel Precipice launched at the end of August. He also trailed Conclave- the multi-award-winnin8 film based on one of his novels. And Robert's wife Gill Hornby tslked about her historical novels, Wlth the audience gettin8 the added of bonus of Robert doin8 the interview - a lovely family affairl The recent ITV miniseries Miss Austen was based on Gill's novel and much of it was filmed in Rye. Camber and Pett Level. Helen Simonson, who was brought up in and around Rye, came home from the USA to talk about her latest novel rooted in the charmlng, pre-war, bucolic England. The film programme featured a 70th annNersary screening of Godzilla, introduced and explained by Rye's biggest fan of the glant Ilzard, Oliver Brooks. Chinatown, starring Jack Nicholson, got a Soth anniversary screening, and aficlonados of the finest wines available to humanity watched a bi8 screen showing of Withnail and l. And Green Grow the Rushes, which was filmed on Romney Marsh, was screened to a packed audience at Rye Community Centre. Drama was provlded by Heather Alexander whose Havisham was a fascinating study of the manipulative anti- heroine of Great Expectations - a one-woman tour de forcel Jonny Fluffypunk offered a kind of theatre of the absurd, whilst delving into his and our inner heroism. And the Rye Players, Holmes Under the Hammer was a rip-roarin8 farte aboul Sherlock Holmes penned by local polymath Oliver Brooks. There were ghost and historical walks in Rye- cellar tours in Winchelsea.. the annual coach tour to selected Romney Marsh churches,. a literary walk to East Guldeford- and nature walks in Rye Harbour Nature ReseNe. The opening weekend featured street entertainers in the centre of Rye offering fun for all the family,. juggling and circu5 skills and Captain Pugwash workshops at Tilling Green Community Centre- the Town Crier, crying; and Ryebellion Drummers beating their driving rhythms. The Trustees would like to thank all the performers. the or8anisers and volunteers who work tirele551y, throughout the year and not just in the fortnight in September to put on the festival. We would also like to thank our members. a5 well as the advertisers in the brochure and sponsor5, both private and corporate, whose upfront financial commitment mean5 income is guaranteed before any ticket5 are put on sale. Work is well under way for the 2025 Festival.
RYE ARTS FESTIVAL CIO Trustees report (continued) Volunteers Members and Sponsors The Organisers and Trustee5 of Rye Arts Festival are delighted by and thankful for the loyal support of our Members, Benefactors, sponsors and advert15ers whose generosity gives the Festival'5 finances o huge b005t before the tickets go on sale and whose contributions allow us to bring world class act5 to Rye and char8e very reasonable ticket prices, thereby 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 Organlsin8 Committee and volunteers, without whom we could not put on the festival. FINANCIAL REVIEW The accounts for the year ended 31st December 2024. which are attached to this report. show the festival finances to be in better shape than they have been for some years. The account5 show a surplus for the year of £9,77312022 £18.7731. Thls surplu5 has meant that the CIO'S resee5 have increased to £60,485, which the Trustees believe to be an appropriate level of reserves as it would enable the festival to survive a disastrous year should the festival have to be cancelled at the last minute. Reserves Pollcy The policy of the Trustees is to malntain sufficient reserves, which in the opinlon of the Trustees, allow them to cover management and administration costs and plan for future years, Festivals. Investment powers and pollcy The Trust Deed authorised the Trustees to make and hold Investments using the General Funds of the Clo. The Trustee5 havin8 regard to the cash flow requirements of the Charity keep available fund5 in interest bearing accounts. Tru5tees' responslbllltle5 In relatlon to the flnanclal statements The charlty trustees are responsible for preparing a trustees, annual report and financial statements in accordance with applicable law and United Kingdom Accounting Standards Iunited Kingdom Generallv Accepted Accounting Practice), for keeping proper accounting records which disclose, with reasonable accuracy al any time, the financial position of the charity and which enable them to ensure that the financial Statements of the charity comply with Charlty Commission guidance and for maintenance and integrity of the corporate and financlal inforrnatlon included on the charity's web51te. Legislation In the United Kingdom governing the preparation and dissemination of financial statements may differ from leglslation in other jurisdlctions. FUTURE PLANS We continue to seek new trustees. The Board will be seeklng to broaden audlence base and introduce new forms of event which will help achieve an increase in revenue. The Tru5tee5 are keen to develop the membership base and to increase involvement ljy them in the Festival. APPROVAL This report was approved by the Trustees and SiBned on their behalf. Andrew Stuart, Trustee 4 March 2025
RYE ARTS FESTIVAL CIO Independent Examlners Report to the Trustees I report on the unaudited occounts of the charity for the year ended 31 December 2024 set ovt on pages 7 to 12. Respective Responslbllltles of the Trustees and the Independent Examiner The charivs trustees are responsible for the preparation of the account5. The ch3rity'5 trustees consider that an audit is not required for this period under section 144121 of the Charlties Act 2011lthe 2011 Act) and that an independent examination is needed. It is my responsibility to.. examine the accounts lunder section 145 of the 2011 Act follow the procedures lald down in the general Directions 8iven by the Charity Commission lunder section 14515llbl of the 2011 Act, and state whether partlcular matters have come to my attention. Basls of Independent Examlner's Report My examinètlon was carried out in accordance with the general Directions given by the Charity Commission. An examination includes a review of the accounting record5 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 as trustees concerning any such matter5. 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 fair vlew,, and the report is limited to th05e matters is sel out in the statement below. Independent Examlner's Statement In connection with my examlnation, no matter has come to my attentlon.. 111 which Blves me reasonable cause to belleve that In any material respect the requirements.. io keep accounting records in accordance wilh section 130 of the 2011 Act, and to prepare accounts which accord with the accounting record5 and Comply with the accounting requirement5 of the 2011 Act have not been met,. or 121 lo which, In my opinion, attention should be drawn in order to enable a proper understandin8 of the accountJ to bc rer4ch¢d. David Andrews ACIB, MCICM, FCT Chatswood Associates Abingworth New England Lane Rye, East Sussex, TN317NT 5 March 2025
RYE ARTS FESTIVAL CIO Statement of Financial Activities for the year ended 31 December 2024 Unrestrlcted Funds Notes 2024 2023 Intome: Donations Charitable activitles 9,225 56,341 10,884 57,970 Investment income Memberships 1,580 5,905 232 6,150 Total Income 73,051 75,236 Expendlture: Charbtable ActlvitSes 63,278 56,463 Total expendlture 63,278 56,463 Net Incomel lexpendlturel belng net movement of funds for the perlod 9,773 18,773 Reconclllatlon of funds Total funds brought forward at l January Total funds carrled forward at 31 December 50,712 31,939 60,485 50,712 The accompanying notes form part of these financial statements.
RYE ARTS FESTIVAL CIO Balance Sheet as at 31 December 2024 Notes 2024 2023 Flxed assets io Current assets Debtors li 8,500 112,480 8,500 62,354 70,854 Cash at bankand in hand 14 120,980 Creditors 12 60,495 60,495 20.142 20,142 Net current assets 60,485 50,712 Total a55ets less ¢urr¢nt 60,485 50,712 Funds Unrestricted funds 15 60,485 50,712 Approv•d by tho Agard of Tru6tg06 on 4 March 2025 •r*d ¢i8n•d on its b•half bv Andrew Stuart, Trustee The accompanying notes form part of these financial statements.
RYE ARTS FESTIVAL CIO Notes tothe finandal ststements forthe year ended 31 December 202 Accounting Policies 1.1 Basis of preparatlon of accounts The financial statements of the charity, which 15 a public benefit entity under FRS102, have been prepared in accordance with the Charities SORPIFR51021 Accounting and Reporting by Charities.. Statements of Recommended Practice applicable to charities preparin8 their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS1021 leffectNe l January 20151, Financial Reportin8 Standard 102 'The Financial Reporting Standard applicable to the UK and Republic of Ireland, and the Charities Act 2011. The financial statement5 have been prepared under the historical cost convention. 1.2 Tanglble flxed assets for use by the charity and deprec5atlon Tangible fixed assets costing at least £500 for use by the charity are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets. less their estimated residual value, over the expected useful lives on the following basis.. Equlpment and 50ftware 1.3 Income retognltlon pollcles Items of income are reco8nised and included in the accounts when all of the followin8 criteria are met.. The charity has entitlement to the funds any performance conditions attached to the Item(51 of income have been met or are fully within the control of the charity there is sufficient certainty that receipt of the income is considered probable the amount can be measured reliably. 2 pa straight line basis 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. 1.5 Fund 3ccountln8 Unrestricted funds are available io spend on activities that further any of the purposes of the charitv. 1.6 Expenditure and Irrecoverable VAT Expenditure is recognised once there 15 a legal or constructive obligation to rnake a payment to third party, it is probable that settlemerbt will be required, and the amount of the obligation can be measured reliably. Expenditure is classified under the following activity heading- Expenditure on charitable aciivities includes the costs of events and edutatlonal actlvities undertaken to further the purposes of the charity and their associated support costs. Irrecoverable VAT is charged as a cost against the activity for which the expenditure was incurred. 1.7 Allocatlon of sUPPOrt Costs Support costs are those funttions that assist the work of the charity but do not directly undertake charitable activities. Support costs include back-office Costs, finance. and governance C05ts which support the Charity'5 artistic programmes and activitEs.
RYE ARTS FESTIVAL CIO Notes to the financlal statements lcontinued) for the year ended 31 December 2024 1.8 Debtors Trade and other debtors are recogni5ed at the settlement amount due after any trade discount offered. Prepayments are valued at the amount 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 year or le55 from the date of acquisition or openin8 of the dep051t or similar account. 1.10 Credltors and provlslons Creditors and provisions are recognised where the charity has a present obligation resultin8 from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obli8ation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowlng for any trade discounts due. 1.11 Financlal Instruments The charity only had financial assets and financial liabilitles of a kind that qualify as basic financial ir15truments. Basic financial instrument5 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 kev element in the Festival's ability to control expenditure. Donatlons 2024 2023 Sponsorship Donations GSft aid claimed 6,530 550 2,145 9.225 7,980 560 2,344 10,884
RYE ARTS FESTIVAL CIO Notes to the financial statements (continued} forthe year ended 31 December 2024 Z024 2023 Charltable artlvitles Income Ticket and programme sales Bars Inetl Advertising revenue Other income Inon-festivall Total Income 48,054 1,897 6,390 51,230 1,420 5.320 56,341 57,970 Less expendlture Direct cost of events Prlor year costs Other Festlval expenses Printing and design Publicity expenses Other costs Inon-fe5tivall Total expendlture Net incomellcostsl Festival sponsorship Inote 21 Festival surplus/ Ideficitl 36.377 36.840 16,7881 1,421 8,547 7,735 78 128 9.658 7.849 319 54,331 2,010 6,530 47.833 10,137 7,980 18,117 Expendlture Direct costs Governance costs Inote 61 Support costs (note 51 54.331 391 8.556 63,278 47,833 276 8,354 56,463 Membershlp and 5UPPOrt costs Advisors Stationery and postage Website costs li 3,854 303 127 3,424 583 2.128 Subscriptions and sundry expense5 Insurance 2,375 Travel cost5 Accountancy Telephone Bank charge5 Depreciation 750 88 1,175 750 121 1.221 8,556 8.354 io
RYE ARTS FESTIVAL CIO Notes to the financial statements {continued) for the year ended 31 December 2024 Governance costs 2024 2023 Committee expenses AGM costs 391 276 391 276 Staff costs No staff were employed during the year and therefore no staff remuneration was paid. Trustees. expenses There were no Trustee expenses during the period. Relaled party transartlon5 There were no related party transactions during the year. io Flxed a55els for use by the Charlty Equlpment Software Total Flxed Assets At l January 2024 Addltion5 Disposals Al 310ecember 2024 Depreclatlon At l January 2024 Charge for year At 31 December 2024 Net book value 2024 2023 li Debtor5 Trade debtors Prepayments GiftAid 8500 8,500 8.5 8,500 Iz Current liabllitles Sundry creditors 60,495 60,495 20,142 20,142 li
RYE ARTS FESTIVAL CIO Notes to the financial statements Icontinuedl for the year ended 31 December 2024 13 Investment Income All of the charity's investment income arises from money held in interest bearing deposit accounts. 14 Cash at bank and In hand 2024 2023 CAF Bank Lloyds Bank Paypal Cash In hand 54,657 57.106 717 34,548 26,944 862 112,480 62,354 15 Analy51s of charltable funds Analy515 of movements in unrestricted funds Funds at 01-Jan-24 Funds at Income Expendlture 31-Dec-24 General Fund 50,712 73,051 163,2781 60,485 16 Taxatlon As a re8lStered charlty, the Festlval Is exempt from tax on charltable activity. 12