REGISTEREf) CHARITY NUMBER: 1191703 REP RT TRUSTE AND NA ITED FINANCIAL STATEMENTS F R THB YEAR ENDE 24 HASTINGS INTERNATIONAL PIANO Cassidys Chartci'cd Account&llls Soutli Sloiir Offic¢s Roman Road Mersham Ashford K¢nt TN25 7HS
HASTINGS INT RNATIONAL PIAN CONTBNTS OF THE FINANCIAL STATEMENTS FOR THE YEAR NDE 30 JUNB 2024 Pag6 R¢fei¢nc¢ and Administrative Details Report of th¢ Tiu$tegs Indep6ndentExiniiner's Report Statement of FinHnGial AGtivilies Balan¢e Sheet Cash Floiy Statcmcnt Notes to the Cash Floiv Siat¢m¢t)t io Notes to the Finaiicial Stalcnicnls 11 to 18 DetAiled Slatenient of Financial A¢tiviti¢s 19 to 2D
STtNGS INTERNATI NAL pfANO FEREN ATrQD ADmIsTRAT1VB FOR THE YEAR ENDED 3 ETAIL TRuEE8 Mrs S H Kowitz Dr Ii Wray M8 G E Qraham (resigtjed 15.10.23) J Marle M Lam {r¢bigned 13.6.24) A Keiih J Yco MBE N C Slri¢klaiid (appoiiilcd 19.7.23) P St¢ven5 (reSied 30.3.24) D Brown S Hopwood lapwTrint¢d 29.5.24) RECISTERED ofifiICE Wliile Rock Theatre While Rock Haslin8S E&sl Sussex TN34 IJX REGISTERED CHARITY NUIIqBER 1192703 JNDEPI4NDENT ICXAMINfi R Cassidys Ch8rt¢red Accountants Soiith Stour Offic¢$ Roman Road Mershain Ashford Kent TN25 7HS BANKERS Nation&1 WlMinst¢rBuk pl¢ HastlnES Havelock Road HasiiThg$ East Sussex TN34 IGW Tlie Co-op¢rativ¢ Bank pl l Balloon Street ManehEslri' M4 4F3E Page I
ERNATIONA REP RTOFTHETR THE YEAR ENDED J TEES 2024 Tlie trustees pr¢senl their repDrt witb tlig finan¢ial stjtemenls of th6 chal'ity for tlie year ¢nded 30 Jiine 2024. Thc tNste have adopled ilie provi8ions of Ac¢oiinling 4nd Repoiling by Charities.. Stalemenl of Recoininended Practi¢¢ nppli¢dblG to ¢hArilies prepgrithg tlieir accoiujts in accordance will) the Financtal Reporting Sfandard appli¢&bl¢ in th¢ UK atld Republic of Ireland {FRS 102) (¢ffective l Janiiary 2011)). ORJlI,C'J'IVtsS AND ACTIVITIES Objectives Th6 obj¢ct for ivhich IlJ¢ Charity was fonned and prin¢ipRI activity coaJtinue5 to be lo advan¢e. improve and maiiitain public ¢du¢ation in, and appre¢iation of, the art of niiisic all its aspe¢ts. Slgnlflexiit Mcflvltle5 Tl)¢ I114rily acliiovos its objectiv¢ by slaging ft biemiiRI intemational piono fesliyal and inlernatitsnal piano ¢oncerfo otllpdition in Haslings, East Sussex nnd pioviding piibli¢ bonwils ld rtGÉthls. lo¥ether iviih y¢ar-roiind ¢dtivJlional and en8a8emcnl activilies and other miisical eveiits desk8ned to ¢n¢oiirage tlie appreciation of mii$ic among all ag¥ groiips. Piibllt benetii In s¢tlillg the charity's objectives ond plallnins its a¢tiviti¢& the truste¢$ hav9 given Consideration to and complied with ihe public benvfit guidanGe lblIShed by tIL¢ Tharity Commission for Englind and IV&l¢s. ACHIEVEMELYT AIYD pERfiORf+lANCE Th6 Hasliiigs IiiterJiatlOJl?I I Pii2nV CDnc¢rlo Competition (HIPCCI h¢ld ¢v¢ry other year. Thc last coinpelilion ivas held in FebrylMdY¢h 2024 at th¢ White Ro¢k Theahy, Haslings and atlracl¢d 240 tyoinp¢lilors flo aT0nd th¢ ivorld. Each omp¥litor sLnt A short Yidco of ih¢inselY¢5 playing? whicli tbree jury niemb¢rs ival¢heif IA O¢lobei 2023 ttd catn# up wi¢h 40 finalists who weie invited to thv live ¢oJnp¢lition, Ten reserves werc lllso picked in casc of dropouts. In thr firsl roiind the 40 cojiipelitors play¢d two conctrtos iyiili all a¢companisl, froin ) sel list of classical aiid roin2L lltic ¢oiic¢rtos. After the first routid 20 players iveiE pi¢ked to perform a 28-niinul¢ r¢¢ilal prv¥rdmtn¢ of their own choice. Tliis had to include a five-Ininiit¢ solo Pi11no pitc¢ by illlenTrationally r¢noiled ¢ompos¢r L¢ra Auerbach, especially Gommi58ioned for th¢ cllp¢tit1On. For th¢ semi-finals ten s¢mi-finalists w¢r¢ pickcd to pcrform a fllll classiclll Goni¢rto wilh'fh¢ SDUtlibank Sinfonia a yoiing OtGh¢slrH bos¢d London with a growitig reputation tsf excrll¢Trc¢. The fJJial five compelitors hAd the ania7.ing opportiinity to perform a complete roiii#nli¢ piano concerto ivitji Ilje Royal Philharmothic Orclieslra. in front of a packed Ivhite RockTheati'¢. All thc roiinds iY¢r¢ slream¢d on the IIIPCC iveb5Lte and Yi¢wed by n)any iwal¢her6. Thanks lo a donation from the Isabel Bla¢knnott Foundation, all tickets lo tjie ¢Jrly slag¢s of the competition wete free. Ive reached out to a range of commiinily Rroups an(1 piiblir services nd personally invited them to allend. We wer¢ liicky enoiigh to be visit¢d by a year flve class from Ore Vill8g¢ VriinaTy School atld rc5idents froni Old Haslin8s Housr cai home. During the compelition, & Piano was placed iii Priory Mc1( dows and mcmbets of thc public were invited to play on a Graiid Piano - this was highly SLICC¢Ssful aiid 50 performers of all ages and abilitie& including a competilor froin th¢ ¢omp¢tition played to those who catne inlo thr shvpping c¢ntT¢. Wc saw a ttal ris¢ in ovenll atlciidanco at the wnjpclilion, Iviili 1,410-dMy passe5 i551t¢d for Ili¢ fiTSt sla¥¢s. S¢at occiipancy iii Ili¢ coJnpeti¢ion showed an inereAs¢ fiom 1936 5¢ats in 2022 (b¢ing Ilie last year tlie coinpetition WA$ li¢ld) to 2268 in 2024- a growth of 17%. We ar¢ £11$0 (l¢lighle(I to r6poi1 a sigiiificallt 46Yo lJl¢l¢a8e iii BiOSS box office incoinc compared to 2022, from £22,338 to £32,561. We a¢lJieved this by taking a fresh perspc¢liY6 on ticket bands, overoll pricing sirai¢gies aDd discounts for certain groups. Th¢ next competition 1$ diiB lo b¢ Iitld in FcbriiRryIMarch 2026. Several rther sucte5sfvI fQnCETts were hold tluoughoiit tlLP year, This incliides re¢ilals At Brighton Festival, South Downs Mi1¢ F¢s1ival, Blchingham Festival, Batilo Festival aiid a Summer Picnic recital at Fairlight Hall, Iljis Gonrvt wa5 Put on by HIPCC and over 200 p¢ople att¢nd¢d th¢ r¢¢ital aiid 70 attended thE recilal lunch. Pa8¢ 2
NTERNATI ALPIAN REPORT OR THE YEA F THE TRUSTEE NDBD 3 E202 Thc charity hss dev¢loptd an exceptional year.roiind eiigageinettt progromine to lake hi8h-qii)lity music itito the Iwal ¢oiiiinunity. Tliis includes taking o PiaDlSt ittlo care IioniE5 Ivlthin tlie lo¢al cDttiinunity. Throiigla ils woi-k willi local Schools. il has given rtiimeroiTS ¢hildr¢n lh¢ opportunity to attend youth workshops, prorlIAnceS and mast¢rGlasse8. FINANCIAL RLI VIEW FIll11¢141 posltlon The principal funding sources of the FharAty are donulion5, Incmbersliips and sponsorships. Thesc or¢ ¢ss¢nial lo cnabl¢ the eompclilion and ¢0cert8 lo be lield) iilong iv£lh 5upporliiig Ilie ¢lkniiily's education and eng%1g¢mcnt prograinine. In yenrs Ivhen Ih¢ Compelilioo is h¢ld an incrcase iii Ili¢ principal fiinding sour¢¢s arc ¢xpected, alotig wilh the associafyd ¢o$ts or holding the event. Th¢ Competiliott was held during tlie year lider revi¢iv and tlie next coinpetition 18 diie to be Iield in FebTuarylMarch 2026. Dotiations in Ili¢ yeHr Linder T¢ViJV incrwsrd to £464,915 (2023- £114,354). Memb¢rslJips Ind sponsorsljips 2Llso increased 10 £44.02612023.. £11,993}. The Stat¢m¢rtt of Finanoiol Activities shows i surplus of £164,197 (2023.. E4.135) for the year and thE Balance Sh¢¢t shows total fiinds of £169,317 (2023-. £5,120) ot tho end of thB repDrting p¢rio(l of which £56.742 {2023.. £nil) are resirlcted funds. Tl)is was the third year of aGlivity for Ilie charity and alihougli it has been 2 cballellgitkg yer duE to the 0going cffcGt5 of tJi¢ Gosl-of-living crisis. the increisc in donalioiis, JnBThTrb¢iship sponsorthip is d¢L4iled in the acl)ieveineJ)l and performane¢ section above ljas liclp to geneialr tlie above iMPToved position. ReseNps pollcy TlJ¢ ¢liority r¢laitis sufficient fiinds for a iijirtimum vfthreB monilis ¢xi)enditiire ctssls. A5 at 30 Jiine 2024 lh¢ Lharily hhs no significant conltMcnts nol provided foi liability in Ilie aceoiints and ha8 iinrestri¢t¥d Iiinds 0£ £112,575. Tl)is meets tlie tar8et of three Inoiitb5 expenditure wsts ivhtdi would be in th¢ rcsion of £77,000. FUTURE PLANS In Education and oiilrcllcli tlh¢ Chaiily has plans to work in Jiinior Schools itj and rtrviijid the Hasling8 area- wli¢i'¢ bling in Iiprigljt Piano nd one of oiir finulists from Ihc cojnpciition to show PiiPAis wli81 a PiRno can soiind like - w¢ ljave already been ill fiY¢ 5¢110015 this y¢ar with three differ¢nt Piaiiisls and a worksliop leadcr. Thcsc liave be¢tt day projects, but w¢ aTC hopEng to increase the visits to weekly to proyidr continuity of rniisi¢ iii 8¢1iool$ throiiglioiit tho year. As part of thir educational ajid ¢ttgag¢m¢nt pro8ramJne w¢ are lookinB at fuiidiiig Piano le&] for childrei) in priinary school, tiiablitig pupils to 8ain tliis valiiable ¢xp¢ri¢nc¢. W¢ are working with care homes to enabl¢ PiRnists lo head in to care hom¢s and perfor1 to Ilie residents. One vislt to Old Hastiii8s Care Hom¢ diiring the conipetition was very successful atsd the ie5idEnls got so mu¢h out of the sliort p¢rformance, giveji by oiic of thc comi)¢titors from Japlln. Th¢ Chaiity is also lookiiig &t offeri118 p¢rfoTTnRnces lo Dcmentia siiff¢r¢rs and th¢ir ¢ar6ts. Ivc are also looking at prtsvidirtg music to Baby and Tols groiip5. For oiir rec¢iJt winner Ive have A conc¢rl Will tlic RDyal PhIlhmi01¢ Owh¢strn at Cadogan Hall in S¢ptember 2024 - 4 recital at Si Mkrls Perivale in London in Nov 2024, pliis A gala eon¢¢Tt iii Sepl¢Jnb¢r 2025 with tliE Royal Pliilharmoiii¢ Oirhestra at Ihe While Rwk Theatre which has r¢aliscd ali int¢rtrst for there to b¢ a cla$si¢al seasoii at the While Rock Theati'e in 2025126. Thi> lias alr¢ady 8Qt a very intcrcst¢d $Wbnsor to fiind o p¢r¢¢ntuge maybe up to 25Y of thic co$ls Df IIIL5 concert. our Patron Sir Stephen Hoiigli will giv¢ i recital in mSh 2025. STRUCTURE, GOVERNANCE AND MANAGEMEI NT Goveynljig do¢uinent The charity is a ¢hthriiibl¢ IncorpoJtcd organislltion {CIO} und was estfiblished by a constilulion dated 18 November. registered with the Charity C0111miS5ion on S Dembe1. 2020. P4g¢ 3
TtNG INfERNATI L PIANO REPORT OF THE TR KTHB EARBNDED JUNB 24 8TRucfuRL GOVERNANCEI AND MANAGEMENT Reci'iiltment and appolntment ofnew triiste¢$ Evcry Iru51ec iiiiist b¢ a natural petsvtt Arld Iliero Inust b6 a Ininimiim of 3 ttustecs atld not iiiore tli&tt 12. In sele¢ting individuals for appointmertt as Iriistets, the tnislees miisi liav¢ regard to th¢ skills, kiiowledge artd ¢xperienG n¢ed¢d for th¢ eff¢¢live &(Iminishmtion of the chai'ity. Prtsspe¢liv¢ tnistees are s¢le¢ted and appointed by the ¢hfjir arid oikcr trustees who have recognised key skills that are n¢eded in running an Arts or8anIs&lioD, this in¢lvdes financial aciimen. yoli¢y anil r¢ctuilm¢nt kwwlcdg¢. Org8nls4ltlonal structure Tli¢ day-10-day opcraiioiis of the Charity air n]n by a D¢v¢lopin¢nt Director (Sarah Coop), R Comnjiintcdtions Dircclor (Nicky IV¢bb) and the G¢tt¢ral Manager (lan BTiEnall). Thes¢ roles ate supported by a full time Learning &nd Dev¢lopm¢nt Cooidinalor dnd a part tiine Coikntnunicalions assislanl. Alongside tbese rol¢$ ate Yolunl¢Ers- a Patrons coordinator, Aliitt)]ii Manag¢r and atL Op¢ralioJJ$ coordinatoi. An advert 1$ b#ing prepared to find a fiirth¢r voliint*ry posilivn Voliinfyer ittaJiag¢r. The Bo4rd of Tsle¢S meels qvartei'ly to inanage the affairs of th¢ charity lo piDvid¥ strale8lG oY¢rsight and fjiiancial 8overnallC¢ of tli¢ charity. The ¢wr¢Jit chair of the TISlee8 Sarrsh Kowilz is acting CEO aiid is the IIrl¥¥ted senior maiiager for day-to-day inattag¢ineJiL This is currently iiiider review os tlic charity looks to find a iiGw 5¢nior inanageincnt slnicture, IndiictTOEi IrAliilnE of iieiy truste¢ New Iruslccs are invit¢d and en¢outaB¢d lo attend o s¢1'ies of short training se$sions lo faMil8ris¢ themselves with tjie ihaiity and the eonlcxt iviihin which it op¢rot¢s. The5# will cover: Tli¢ obligations of the ItU51¢¢s Tlie main drtiimeiils ivhioli set out the optratiojial fromework for tlie ¢hRrity R¢50ur¢ithg and the ¢ui'r¢nt financial positioii as s¢¢ out iii thc lale81 piiblished a¢¢oiints. I<Ey iiIHnAg¢Jiient I'eihunei'otlon The tnisttes cotisidrr Ihal lh¢ triisl¢cs, the Developniettt Dir¢¢lor, the ConJinuni¢aiions Director and the O¢n¢rRI Manager are th¢ key maDHgemenl p¢rsoThn¢l of Ilie cliarily. All Iriistets give their lime frccly an no Iru5tees receiv remiineraltvn the year. R¢miineration forothcr key Jnaiiftgenitnt personllcl is approved by the tnL81¢¢s. Pag¢ 4
GS INTB NATI L PIAN REP RT OF THETEEs R THB YE RBNDED 30 024 STRUCTURE, GOVERNANCE AND MANAGEMENT R151( manng¢niont Tli¢ Inist¢ts have a diity lo identify atKI r¢viEw Ilie rSk8 to which tli¢ charAIy Is BXP05ed to ¢nsur¢ appropriale controls re iii plk¢¢ to provide r¢asoJioble assurance agatn$l fTAiid aDd ¢rror. The ¢hariry is wbj¢¢l to Financial, Legislative #iid OperalioJiAI Risk5 and has ¢aken 81¢ps to mitigi£ t¢ siich risks. Financial Risk The charity aims lo diversify its soiirces of fundin& whicli are pi'imhrily from its op¢rations (itt¢luding ticket sales and competition entry fee$). private dot]uliDiiS and grants. Thr Gharily Is actively pursuiJi8 gratsts to &sst5t ivith ils outr¢17 plans, in purticular for the ediicationlll ¢venls plii nned as part of HH51ings Int¢inatitsnal Piano Festival. Hasiin8s IntcrnalionAI Piano niaintains a multi-li¢red patrons, scl?eine to ¢ncoiirag¢ siipport for Ilie concetlv LDJllpetilion and tli¢ piano fesliv&l. The rliaiity is also pro-aclive in en¢oiirRgittg support from local oIganisaliott$ artd bu5ints5S¢S. L¢gislative Risk The charity mAintt*ins a Risk R¢gistÈr for it$ liullh aiid s&ftty at their 6Yenls. Procedures ale irt place to ¢nsure compliallce wilh child pro¢e¢lioii, two JneInb¢rs of skiff are ¢nhan¢¢d DBS cliecked aiid ar¢ Mcntal H¢alili flrsl aid¢rs. Poli¢i¢s for healtli and safety o£stalT, vollte8, coinpetitois, adjudic4tvr5 and aiidi¢n¢e membets are up to dale. Operaliortal Risk As WLII ihe i'i5ks oiitlined above, th¥ chclrily fiires additional operatLOni?I risks, including thc risk of iirtavailabilily of v¢niic8 on desired dal¢s, lack of¢oinpeli1015, Iillavailabilily of adjudi¢&tors and rediiced aiidi¢nty¢ m¢mbers, These risks are niilt¥#ld iii th¢ d¢velopment of our slrat¢gi¢ plan, Ivhi¢li fillttw5 foT the diversifieaiion of fundit)E, artiYilie5 aiid venues, ajid iii th¢agile managbmciit of oiir operalioiis. roved by order of the board of tLilSte¢3 on....... and si8ned on its behalf by: S H Kowitz- P4ge 5
DEPEND EXAMINEIi'S ASTIN S INTERN TTOT IONA PIAN ESOF Ind¢peiideii¢ ¢xamlner'$ i'eport to the trustees of Hastlngs Jiiternatloii&l PIArto (6tlJe Cliarlty? I report to the chtY toist¢es on my examination of th¢ a¢counts ef thc ChaTity for the year ended 30 Jiine 2024. ResponslblUtle5 and bAsls of rq)ort A$ th¢ Gh4ritl5 ttustses you are responsible for Ilje preparatioTh of the aCconIS in acttsrddnc¢ with th¢ ieqiiircinenls of tlke Charilies Act 2011 ('the A¢t'). I report irt respect of my exAmination Of your chaTlty's Accounts w$ c8rri¢d out und¢r S¢¢tion 145 of the Act Hiid in carrying out my examination I h4v¢ followed th¢ Directions given by the Charity Coi))mission undu Section 145{51 (b) ot th¢ Act. Ind¢pend¢iit exaniln¢i s statempnt Since Ylr ¢liarily's gross income exceeded £250.000 your ¢xamiiier niiisl be a Jn¢mb¢r of a li8l¢d body. I can ¢onfirm that I ani qiialified to und¢rtak¢ lh¢ ¢xaininalion becaus¢ I am a iiiember of tjie Inslitule of Chartered Accoiiiilants in England aiid Wales, wliich is tsi1¢ of th¢ listed bodies. I hav¢ completed my #xatnination. I confirm that no muttBts hav¢ ¢om¢ ¢0 Iny altention in rtsnnection with the examination giving MB caiise to believe.. accoiintsttg rccords were tjot kept iii r¢sp¢ct of ihe Charity as required by Se¢lioA 130 of th¢ Act. or the accoiijits do not a¢¢ord with those records. or IIIG acco(Inls did Jjol ¢omply iviih th¢ applicablc r¢qiiitemellts ctsiicerjiitig th¢ forjn and content of Rceoiiiils set out ii) the Chatiti¢s (Accoiints and ReporLs') Rcgiilaliuns 2008 other than any reqvir¢ment that the ac¢ounts giv¢ a't1¢ and fair, view ivhicli 15 Ilot a matter considered as part of on independent exattiination. I hav¢ llo and hav¢ ¢ome aeross no oth¢r matters in conneclion with the exainination til whi¢h all¢nlion should be in this report in order to enable ll prop¢r vnd¢rstandith8 of Ihe a¢¢ount6 to bE iexlicd. S G Whorlow FCA Cassidy$ Chartered A¢countants Soiilh Stour Offices Roinan Road ershain Ashfoid Kenl TN25 7H8 Dat¢.. Pag¢ 6
TIN ERNATI STATEMENT F FINANCIAL ACTIVITIE THE YEAR 30.6.24 Total ftinds 30.6.23 Total fund5 Uiireslri¢ted fulld Rtstricled funds Noltts INCOME AND EiYDOWMC4 NTS VRONg DoiiRli(In% and legacies 475,754 83,242 558,996 132.597 Cliai'ltabIe fi¢llYltles Piartv Cvinp¢lilion Piaiio Qon¢¢r¢ Educational a¢tiViti¢s 69,805 6.027 69.805 6.027 27,933 J,650 Othei. trading a¥livili¢s Investtnent iiicoine 2,923 218 3,635 Total 555221 638 463 167 321 EXPENDITURE ON Raising fiinds 2,057 2,057 2.030 Cliai.Itable actlYl(les Pi2nu Compelilion Piano Collc¢rt Ediicational %?Ctivities Geii¢rdl and supporl costs 223,164 9,235 8,821 204 489 26,500 249,664 9,235 8,821 204 489 6,408 55.854 2,286 Totsl 447.766 474.266 163 186 NET INCOIME 107,455 56,742 164,197 4,135 RECONCILIATION ofi fiUNDS Total fuiids broiight fotward 5,120 5,120 985 TOTAL FUNDS CARRIED FORWARD 112.575 169317 Th# notes form part of11)¢sE fall¢l81 stRlements Pagc 7
STI 30.6.24 Total fuiid$ 30.6.23 Total fiinds Unr£5ti'icted fund R¢stricted funds Notes FtXED ASSETS Tangible agsels 342 342 CURIIENf ASSETS D¢btgrs Cash at bonk and in Iiand 14 1,013 140 638 1,013 197,380 4,201 141,651 56,742 198.393 41,992 CREDITORS Amoiints f8llin8 due wiltkirnone year 15 (29,4181 (29,418) {36,872) T CtJruiENT ASSE4 TS 112233 168 975 TOTAL ASSETS LESS CURRENT LIABILITIES 112.575 56,742 169,317 5,120 T ASSETS 112575 169317 FUNDS UIire511icltd fLinds Reslri¢led funds 16 112.575 5,120 TOTAL FUiYDS 169317 The financial statements wer¢ aNTrroved by th¢ Board of Trust¢¢s ond authoristd for i55ue on w¢ 5ign¢d on its b¢h If by.. ai.ofl.a S H Kowitz- Trust¢¢ The notes form part of th¢se fjnancial slatcments Pag¢ 8
HASTIN TERNATI NALP NO CA OR THB YEA WST ENDED 30 30.6.24 30.6.23 Nolcs CRsli floiys froiii opeiytlng a¢tlvltle5 Cash gelleiated from operalton$ 160045 Nel ¢ft$h providEd by OP¢TRtin8 activities 160 045 Casb floiys fi'om Inyestliig Hcllvltl¢s hir¢hase of tangible ftted asscts 456 Net cash (used inllprovidtd by iiivesling aclivitl¢S Chwngo In ¢a$h ¢Rsh eoulY4lents In tht reportiiig pei'lod Cash 4)nd cAsh ¢qiilYalentS at tlie ]p¢glnnlng ofthe repoi'tlng peylod 159,589 7,689 CAsli xnd ¢8$11 equlvalents #t tlie of tlie i'epDrtlng PErlod 197 380 The notes form pgrt of these fanl&l slfttem¢nts P98¢ 9
HASTINGS INTERNATI NAL NOTES TO THE CASH FLOW STATE THE YEAR ENDBD 3 E 2024 RECONCILIATION OF IYET INCOME TO fqET CASH fiLOW FROM OPERATING AcfiviTlfS 30.6.24 30.6.23 Net Income for the repoi'tlng poi'lod (hs per the StRternent of FlnHn¢lal Acllvltles) Adjiistnicnts foi.: Depre¢iation oliargos Decr¢#$¢ in debtors Decrease in ¢Teditors 164,197 4,135 114 3.188 7,256 3,702 IY¢t rasl) provlded by opei'atlons ANALYSJS OF CHANGES IN NET Fuf4DS At 1.7.23 Cash floiy At 30.6.24 Net C11511 Casli ai bank and in liand 159589 197380 159,589 197 380 Tolal 159 $89 197,380 The nofr8 form pirt of these financial stal¢Jn¢nl$ Pag¢ 10
STINOS INfERN IONAL PIANO NOT TO THE FINANCIA FOR THE Y NDED 3 TATEMENT B 2024 ACCOiINTING POLICIES Ila515 ofpi'epAI'liig Ib¢ nngiielal statemeiits Hastings Intcrnatiojial Piano is a ¢harilablt IllCOTporated orgonisalion, r¢gistettd with tlie Charity Comnii8slon In En8land and Wal¢$. Th¢ charjty's registered number find r¢8lStcred offjce address Can b¢ found oji the Ref¢ren¢¢ and Adiknit)istrativr Details page. The fInancial slatem¢nts of the charityj which is a public bettefit entity under FRS 102, havE bEenyiEpar¢d in a¢¢or(lanc¢ with the Charities SORP IFRS 102)'AccountiDg and Reporting by Cli#rities.- Slal¢meJit of R¢commended Practice applicable lo ¢lTra¥tli¢s prepariJJg their ac¢oun¢s iii d¢cordance with the Financial Reporting Siatjdard appli¢abl6 in Ilie UK aiid Repiiblic of Ireland (FRS 102) {cffccliv¢ l JartllAry 2U19)', Financial Reporting Standard 102 'The Findn¢iHI Reporting Standard applicible in the UK and Republi¢ of Ireland, and the C.harilics Act 2011. The tinancial slat¢m¢i)Is Iiav¢ b¢¢ll prepare(l under the hisluricHI cost conv¢ntion. Tlie P1¢5cntotion ¢urrcncy of the finAn¢ial st&temcnts is Pound SterliLs (£) and amounts Jre roiinded to the iiearesl £. Income All income is r¢gnIsed in the Statement of Finan¢ial A¢liviti¢s oiice die cliarity has enliilenient lo the fLindg, it Is probable ihLgt Ihe income will be recciv¢d artd the amoiint tan mta5uied reliably. Expendltui Liabilitics arc r¢cogttis¢d R5 EKpendiftLre as soon as there is a l¢gal or consliiiclive oblix4lioti romTnillinbN th¢ chiirity to that expendit1¢, il is probable I1t a transfcr of economir h¢nefits ivill be reqiiired in s¢ltlement and th¢ amoiint of th¢ obli8atson caD be ni¢8sured r¢li)bly. ExpendiluTe is accoiillted for on an ac¢N&ls b&sj8 and lias bccn classified under h¢adiiigs that a8gr¢gate all cost rL.la¢¥d Lo th¢ categoTy. IVh¢i'¢ ¢osls ¢aJiiol be dir¢ctly Rltiibutcd to P8rticular hcadings th¢y have been allocated to p¢tivities on a basis Lonsislent ivith th6 u$¢ ofr¢sour¢es. TAnglble flx¢d Ass¢ts D¢pr¢cialion is provided at tlic folloWng annual rates in order to writ¢ off ea¢h asset over its ¢stimatediiseful life. Computer equipment 250A on ¢ost Taxatlon The charity 15 exempt from ¢orpor81iott tax on its charitable activilies. Fiind aceotiiitlng Un1¢51ricted funds ¢an be us¢d in a¢¢ordcinc¢ with the Gharitable obje¢liv¢s at th¢ dis¢retion of the tru$le<s. Rc5trsctcd fiinds tan only h6 Used for part]lIar restricled piirposes within the objeels of the cjiarity. Restrictioos ari5c ivhen specified by the donor w wlien fvDds are rais¢d for parti¢ular rcstticled purposes. irther ¢xplJnAtion of tlL6 natt]re and purpose of ¢ttch fid is LIIGluded An the notes lo t# financial stRt¢m¢nl5. Hire pur¢hR5e And leislThg ¢omm5tMonts R¢nlS paid uiJd¢r op¢r8ting l¢as¢s are cliarged to the Statein¢til of FinanciAI AclivifLes oll a straiglit lin¢ basis ov¢r thepeiiod of the lease. Pellslon ¢osl$ Aiiil olliei. post-i'etffirtin¢nt b¢ii¢fll$ Tho ¢liarity operates a d¢fin¢d Contribiilion pension heM¢. Conlributitsns pay&blo tt) tke cliarily's pension s¢lirJn ai¢ charged to Ilie Slatenient of Finaiicial Activities iii the period to which they relate. Debtors and ci'tdltoi's di1¢ wlthlii one ytai. D¢btors and ¢rcditors due iyidiiii one year with no slated irtler¢5t ral¢ 4r¢ r¢¢orrfed at tr8nsd¢tion prire. Any 105565 arising from impaiiineE)18re rEcogllis¢d a8 exp¢ndiliire iii th¢ Stat¢Jii¢nt of Financial Actiyilies. Pagcll coiilinLL¢d...
HA TINGS INTERN PIANO TES TO THE FtNANCIAL STATEMENTS- ctsrtlin HB YEAR ENDBD 3 JUNE 2 DONATIONS AND LEGACIES 30.6.24 30.6.23 Donalions Gift aid Grants Siibs¢ription$ 464,915 3,005 46,550 114,354 6,250 558 996 ants r¢Kived, IllGludcd iii th¢ Above, are as follows.. 30.6.24 30.6.23 Arts Couiichl EDglind Other 8rants 26.550 OTHER TRADING ACTIVITIES 30.6.24 30.6.23 Fundraiiing events JP4VESTMENT INCOME 30,6.24 30.6.23 Baiik it)t¢reg1 receiY¢d 218 Pag¢ 12 conlinurd...
HASTtN INTERNATI NA PIA NOTE TO THE FINAN IAL STATEMBNT R THEY R ENDED in 24 INCOME FROM CHARITABLE ACTIVITIES 30.6.24 30.6.23 Activity Pian(> CompE¢ition Plano Concert Edu¢alioiial a¢tiYili¢s Cornpelitioll Incom¢ Concert lrtcome Edu¢atithi Iii¢om¢ 69.805 6,Q27 27,933 RAISING FUNDS RAl$liig ilonatloiis aiid legielts 30.6.24 30.6.23 indraising expens¢s 2,030 CHARITABLE ACTIVITIES COST8 Support costs (sce nol¢ 81 Dir¢¢t Costs Tolals Piano Cornp¢tition Piaiio CoDGert Ediicalional activities Oeneral aiid siipporl costs 249,664 9235 8,821 249,664 9,235 8.821 204 489 267 720 204 489 472 209 SUPPORT COSTS Inforniation te¢linology Governan¢e costs Management Financ£ Totals G6neral and support Msts 617 Pag¢ 13 continiiEd...
TES TO THE FtNANCIAL STATBMBNTS- eontinue FOR TFIB YBARENDED 30 3 NET ]NCOMEIIEXPENDITURE) Nel incomel(expeiidilute} is slated aftcr ehargingl(crediting)'. 30.6.24 30.6.23 Independettt ¢xamin¢Vs fees for the ¢xatnitJatioJi of the fancial Statonienls Ind¢p¢Ldoiit ¢xamin¢¢$ f¢es for a¢¢ountalJCy 5ervi¢¢$ 1,260 293 1,080 517 io. TRusfEESf AND I<EY MANAGEMENT RMUNERAT[oP4, FEES AND BENEI FITS Their wcre no tnisle¢s' remiineration or oth¢r benefLts for the year ended 30 June 2024 nor for the ye&r ended 30 June 2023. Diiring the y¢or (here were 3 12023.. 3) individuals considered ¢0 be key JnaiiagemBnt they r¢ceiYed fr¢5 of £108,348 (2023.. £54.443) in a8gr¢gate. No individiittl received fees in excess of £60,000. Trustees, expen$es TlieT¢ w¢re no trust¢¢s' expe118e8 paid for tli¢ year ended 30 Jiine 2024 nor for th¢ yeAr ended 30 Juthe 2023. ii. STAfif COSTS 30.6.24 30.6.23 Wases alld sAlaries Other pension Ctssls 13,162 320 19,906 367 Tlie average Inonthly number oF¢mployc¢s diiring the yearivas as follow5.' 30.6.24 30.6.23 Aiiminisli'otion ND eiKploye¢8 received emoluments in ¢xc65s of £60,000. Page 14
HASTIN ONALPIAN NOTES T THE FINANCIAL STATEMENT - ¢ontinu E YEAREND 30 202 COmPARATE8 fiOR THE STATEMENT OF fiINANCJAL ACTtVlTIES unStriCted futld R¢stri¢t¢d lknnds Total INCOME AND EIYDOWMCINTS FROM Doii*t10115 and l¢ga¢i¢s 132,597 132,597 ClJ41'ltatJle Rttlvl¢l Piano Con¢¢rt Ediicalional activities 27,933 3,65D 27.933 3,650 Olh¢T trading &Gtivitl¢8 Inveslinent iii¢oine 2,923 218 2.923 218 Total 167 321 167 321 EXPENDITURE ON Raising fiinds 2,030 2,030 ChArEtAble actlvltles Conipetition Piano ConG¢rt Bdiicatioiial activities G¢neral aiid support ¢QSls 6,408 55,854 2,286 6,408 55.854 2,286 TotAI 163 186 NET INCOME 4,135 4.E35 RECONCILJATION or riUNDS Total funtls brou8ht fonvllrd 985 985 TOTAL FUNDS CARRIED FORIVARD 5.120 Pa8¢ 15 ¢ontinii¢d...
HASTtNGS INTERNATIONA NOTES TO THB FtNANCIAL STATEMBNTS- c FOR THEYEARBNDED 30J in 13. TANGIBLE FIXED ASSBTS Computer eqiiipmtnt COST Addtlions 456 DEPRECJATION Cliarge foryear BT BOOK VALUE At 30 Jiine 2024 342 At 30 Jiine 2Q23 14. BTORS: AMOt7NTS FALLINC DUK IVITHIN ONE YEAR 30.6.24 30.6.23 debtors l>rtpaytn¢nl5 and iiiGthii¢ 400 613 15. CIIEDITORS: AMOUTr4TS FALLG DUE IVITHIN ONE YEAR 30.6.24 30.6.23 Trade creditors Social se¢iirity and other tsxes Other eredilors AcGtuEd expenses 23,713 266 359 3,429 78 8,665 16. MOVEMENT IN FufqDS Tqct rtioveniEnt in fiujds At 30.6.24 At 1.7.23 Unrestrlcted fiEnds Generol fund 5.120 107,455 112,575 Re8trIcte(I fiin(Is EdUtion & Eiigagement 56,742 56,742 TOTAL FUNDS 164 197 169 317 Pa8e 16 continued...
JNTERNAT rBST THE FINANCIAL STATEMENTS- c OR THB YE 2024 in io. MQVEMEP4T IN IIUNDS- ctsndiiued Nel movement IA funds. included in til¢ Bbov¢ wr¢ as follows.. Incoming r¢S0ri¢S Resoiirces xp¢ttdEd Mov¢meiit in fiinds Unre$trlcte(I fiinds Q¢neral fund 555.221 (447,766) L07,455 Restylcted fiiiids Ediication & Engagement 23-24 CoJnp¢tilion 56,742 56.742 TOTAL FUNDS 638 463 474 266) 164 197 CompAI'allve$ for inovemeiit lil fiiiid$ Net moyement in fiinds Al 30.6.23 At 1.7.22 G¢neral fiin<l 985 4,135 5,120 TOTAL FUNDS 985 5,120 Complraiivc net iiiovem¢nt in fil[8 inGlitded in the above are 8$ folloivs.. Resources expended Mov6Jnt in 1lS resoiirces Uiire5trIct¢d funds General frnI 167,321 <163,186} 4,135 TOTALFUNDS 167321 163 186) EducatloA Engfigement- Funds or¢ hrld for th¢ cost of providittg the learning & parti¢ipationprogiiinin¢. 23-24 Compttltlon Fund3 ar¢ lield for the cost of liolding the 2023-24 Haslings InteinationRI Piaiio Con¢¢rto Coiiipelition. PaB¢ 17 continued...
ASTINGS IN AN OTES T THE FINA CIAL TATEMBNTS- continued FORTHB YBARENDED 30 JUNE 202 17. RELATED PARTY DISCLOSURES tALriMg Ilie year doiiations ti>lRlling £20,000 (2023.. £25,200) &lLd incmber8hip lbScriptIOnS of £5.60012023.' £nil} wer¢ received from tnisiees of Ihe charily. In addition, doiiations of £145,000 {2023.' £86,463) were received from th¢ Kowitz Fpmily Foiilldation (UK) Limited, a ¢liArity irt which Mrs S H Kowil£ is a trustee. There wcrc n conditions ttached to th¢ donations. Dur51 llie year tlie charity mnd¢ i6 Df Fairlighi H811 Esl¢?t¢s. a bNsittes$ owThed by tt ¢loso family m¢mb¢r of Mrs S H Kowilz. to T¢duc¢ ¥xpsE$ with r¥gar(l$ to ¢1*18 lield by the charsty. £10,56512023'. £2,496) w&s charg¢d to the ¢liariry during ¢h¢ year by F8irli8111 I4all Lslates, bcing lcss than Ilie acti1 ¢osl in¢urr¢d by th¢ biisin¢ss. A8 at 30 JUL¢ 2024 £Thil (2023.. £1,556) iyas due to Fairlighi Ha[ Estaies. Pag¢ 18
HASTING INTE IONAL PIAN DETAILE STATEMBNT FOR THB YEA F FINANCIAL ACTIVITI ND 30.6.24 30.6.23 INCOME AND ENDOIVMENTS Donatlons logfft¢lo$ DotTratiott$ fjift aid Orants Subs¢riptLOnS 464,915 3,W5 40,550 14,354 6,250 11.993 558,996 132,597 Otlier tradliig #etlvltles Fiindraising events 2.923 IiiYe5triient Incom¢ Bank interest received 3,635 218 Cliai'ltable octlvltle5 Competition Incne CopLrrl Incoin6 Ediication Income 69,805 6,027 27,933 Total Ineomlng i'esouY¢¢s 638,463 67,321 EXPENDITURE RHlslng don&tlons leEaele5 FiiDdiaising ¢KP¢nSE5 2,057 2,030 ChRI-Itable hcilvltles Comprtilion Bxp¢n%¢s 249,664 9,235 6,408 55,854 Educalioii Expettses 267.720 64,512 Suppoi't costs Maai&genient Wagts and fees Pehsions Carfied foiivard 178,248 320 178,568 85,313 367 85,680 This page does not form pirt of Ili¢ statutory finallcial statements Pagc 19
GS INTERN NAL PIANQ DETAILE FOR T T OF FtNAN IAL ACTIVITIES YBAR E 30JUNE2 3Q.6.24 30.6.23 Mgnfigement Broiight fonYArd Other operating leases Insiirance Telephone Postage lind sttttion¢ry Advertisiiig 178,568 4,436 85,680 3,001 40 275 1,498 2,710 898 517 80 778 1,784 4.078 5.957 3,298 114 Siibscriptions CvmpLilri' Costs Compul¢r ¢ouipm¢nt 200,424 94,619 FIT]Aiiee Bank charges 1,895 428 Inftrrinxtlon techiiulogy Repdirs renewJls 617 Governance costs AcGoiinlan¢y fees Total r¢8oiiir¢s expended 474 266 163 186 Net IneDiiie 164.197 This pag¢ dott not foNn part of iho sLilutory financial sthtements Pa8e 20