REGISTERED CHARITY NUMBER: 1192703 PORT OF THE TRUSTEES AND UNAUDITED FANcIA STATEMENTS FOR THE YEAR ENDED 30 JLWE 2025 FOR GS tNTERNATIONAL PIANO C&ssidys Ch3rt¢r¢d A¢¢ountanis South Stour Office5 South Stour Road Mershat Ashford Kent TN25 7HS
HASTINGS tNTERNATIONAL PIANO CONTENTS OF TIIE FINANCIAL STATEMEN75 FOR THE YEAR ENDFD 30 JUNE 2025 Page Reference and Administrative Details Rep)rt of ihe Trustets Ind¢pendettt Examine$ Report Statement of Financial Activities Balatkce She¢t Cash Flow Statement Notes to the C&sh Flow Statement io Notes to the Finaajcial Statements 11 to 19
HAsfrNGS INTERNATI NAL PIANO REFERENCE AND ADMNislliATJVE DETAILS RTHE ENDED 30 JUNE 2025 TRUSTEES S H Kowitz Rwrny J Marten A Keith J Yeo MBE N C Strickland D Brown S Hopwood T Adartjs (appotnted 24.02.20251 REGISTEREDOFFICE White Ro¢k Theatre White Rock Hastin85 East Sussex rN34 IIX REGISTERED CHARITY NUMBER 1192703 INDEPENDENT EXAMIYER Cassidy$ Ch8rter¢d A¢¢ountants Souih Swur Offices South Stour Road Mersham Ashford Kent TN25 7HS BANKERS The Co-operative Bank plc Balloon Sireet Manchester M4 4BE Pag¢ I
HASTGs INTERNATIONAL PIANO REPORT OF THE TRUSTEES FOR T E YEAR EFkDED 30 JUNE 2025 The trnstees preseftt their reN>rt with the financial statetnent5 of the charity for the year ended 30 June 2025. The trustee5 have aitopt¢d the provisions of Accouniing and Reporring by C.haTities.. Ststement of Recommended Pta¢ti¢e applicable to charities prepaTing thtir accounls ita CordIn¢e with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 (effective l January 2019). OWECTIV£S AND ACTIVITIES Objeetives #nd aim$ Th¢ object for which th¢ charity was fomi¢d and principal activity continues to be to advance, improve and mainthin public education in, and appre¢iaiion of. the art of music in all its aspects. SlgnSfie*nt Ietlvltles The charity achieves its objective by sts8ing a biennial internattonal piaTho ¢on¢erto ¢omp¢tition in Hastings, East Susgx and providing public con¢¢rts and recitals, toge¢her with year-round educational and engagement a¢tivities and other Inu5ical even15 designed to encoura8e the appreciation of music among all age groups. Publie beTrefit In s¢ning th¢ ¢haritys objectives and planning its activitie& the trustees have given consider&tion to and complied with the public benefii guidan¢e published by the Chariiy Commission for England and Wales. ACHIEVEMEiwfs AND PERFORMANCE As our competitioTh is biennial thi5 year was our non-competltion year. The T¥ustees and Ex¢¢ytiv¢ Team have inwested time in developiftg our organisational structure alongside growing our presence locally, nationally and within the Worldwide Piano Competitton arena. We appotnted our first Finance Director in November 2024. as we develop our op¢raiions. We continue to work with our prize winners. providing $p¢¢ialist tuitiofj and support to prL)gress th¢ir ¢ar¢¢rs ihrough a series of perfonnance opportuniiies. This has included suc¢e55ful conccrts at Cadogan Hall. St Mary's Perivale. Fairlight Hall. Battle Abbey and at Festivals such South Downs Summer Musi¢, Brighton F¢stival and Festival d'Auvers. Our annual pirni¢ ¢on¢ert is rLOW firmly ¢stabli5h¢d in both the local calendar and widcr music CErcuit. It also %rves a bridge between our WO supporting ¢merging artists and our work in the local community. As ever it was ¢x¢¢ptionally well atteTrded by around 200 people from the local arca. In March 2025 we were delighted to have our patron Sir Stephen Hou8h perforniin8 for us at Fairlight Hall. Our Leaming and Panicipation team have WOTked hard to ensur£ we deliver classical rnUSLC Lll way5 and pla¢¢s that deliver equitable accessibility. We have eSblIshed links with local community at3d ¢are settings. stJ¢h as St Mich2¢1's Hospice and Broomgrove Community Centre, where our emergita¥ artists perform¢d to r¢5id¢nt5 at no cost to the cart providers. Our sehools programme has grown and we delivered a ran8e of primary schcM)I sessions again 8( no eosl to the schools thanks to OIIT generous fund¢T$ and 5UPPOrter5. Our one day workshop with Saxon Mount Special N¢ed5 School wa5 particularly well received and we hope to further develop our schools offer. February 2025, Ha5ttll85 International Piano eo-d¢liver¢d a ¢ollaborativ¢ ¢reativ¢ musi¢ ond arts showcase with Or¢ Village Primary School, Hastings Coniemporary and the White Rock Theatre, and &8 part of the Pearls of the Sea programme. combining music-making with visuol and perfom7ing arts activities. The final p¢rforniane¢ of the pupil-designed composition. with Hastings ltttemational Piano piaTLiSt Gabriele Sutkute. was well received by over 250 family and friends. Page 2
FL4STtN'GS JNTEILNATIONAL PIANO REPORT OF THE TRUSTEES FOR THE IEAR ENDED 30 JUNE 2025 We trialled a new mental health wellbeÈng workshop called Sounds of Creativity with hcal artist Sophie Malpas. Th¢s¢ sessions give participants the opportunity to listen to selecied piano pieces whilst developing both their own and the groups artworks. We partnered with White Rock Theatre to deliver these sesstons. These will continue *n 2026 after the next ¢ompetition. None of our work would be possible without the Coniinued support of our Patrons attd marty significant grants and donations from Sussex Comrnunity Fund, Kowitz Fatnily Foundation. Th¢ Swire Ch8rity, The Foreshor¢ TrusL Magdalen & Lasher Charitable Trust, Postcode Society, Chalk Cliff Trust, Arts Council Et>gland and Lawson Trust, amongst many others. FINANCIAL REVJEW Financi91 position The principal funding sources of the ¢h2rity are donations. memberships and Sponsorships. These are essential kn enable the competition and concerts to be held, alon8 with Sup)rtn8 the charity's education and engagemeni programme. In years when the ¢omp¢iition is h¢ld an in¢rease in ihe principal funding sources are expected, alotlg with The associated Costs of holding the event. There was no competition held durin8 the year under review, the next ¢omp¢tition will be held in F¢bn2arylMar¢h 2026. tknnations in the year under review were £108,567 (2024.. £464,915). Memberships in the year were £31,458 {2024.. £44,026). The S¢at¢ment of Financial A¢tiviti¢s shows a defi¢it of £20,75112024.. surplus of £164,197) foT the year aad the Balance Sheet shows tolal funds of £148.566 {2024.. £169.317) at the end of the r¢tx)rttng period of whi¢h £8,163 12024.. £56,74?) are r¢stri¢t¢d funds. ThÈs w&s the fourth year of activity for the charity and although it has b¢¢D a ¢hailengittg year dtje to th¢ ot)8oing ¢ffe¢ts of the ¢ost-of-living crisis we were able to Use our reserves to maintain our charitable output. Reserve$ policy The charity airns to retain Sufficient funds for a minimum of thr¢e months expenditure costs. As at 30 June 2025 th¢ ¢harity has no signiftcant commitments not provid¢d for as a liabiliry in ihe a¢¢ounis and has uniestricted funds of £140,40312024: £112,575). This is below the projected target of £159.900 {2024.. £77.0001 for the next year. which due to being competÉtion year requires higher funding. The Trnst¢es held a strategy day in July 2025 and from that are developing a new organisational structure and operatln8 model. The Trustees belt¢ve these positive actions will support the charity's future activtties and achleve reserves itt Itne with their poli¢y. The Cha¥tty also has ihe ¢ontioued support of th¢ Kowitz Family FOndatIon (LTK) Limited and US Friends of Ha5ttngs PiarLO. Page 3
L PIANO REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 JL'NE 2025 FUTURE PLANS 2025-26 is sel to be our busiest year yet. Our moin focus will be gn delivering our next wmpetiiion in FebnJary/March 2026. Entries closed in September 2025 with shortlisting hY4ving taken place in late October 2025. EntrÈes have Encreased by 20&/0 awareness of our competition continues to grow. We had an extended Picnic Weekend in July 2025 with ov¢r 240 att¢nde¢s OCTOSS ihe events, a large Gala Concen with the Royal Philhamionic Orchestfd, conducted by Scott Dunn, in Septetnber 2025, providing our recent winners with additional performance opportunities. Previou5 finalist Derek Wang is scheduled to perform sev¢ral concerts for us in¢luding one in New York for our Ameri¢an Friends. In education and outrea¢h the ¢harity has plans to continue to work in schools in And around the Ha5tit)gs arei particularly through schemes to give School age children aecess to wat¢hing liv¢ ¢ompetition ¢1oss¢s alongside our pwgramme of bringing pianists tnto schools. We have a range of outreach programtne5 scheduled iTh the run up to th¢ next Competition including a wel¢ome return of our Musi¢ in ihe Meadow sessions. placing a piano in the local shopping centre that anyone can book to play on and all can listen to. The Painted Piano Pmject is a new progrdmme where we will panner with lo¢al Community groups like S¢avtew Proje¢t Homeless Service and local artists to deliver art and tnu51C Ln open community settings. We will continue with care homes to ¢nabl¢ piapists to head into care homes and perfomi to the residents alongside specific sessions for Dementta sufferers and their carer5. We will ¢oniinue to support our recent and new winners with a serKes of perf0rn2n8 OPPQrtunitke5. not le&st the Winner5 Concert at Wigmore Hall in May 2026. STRUCTURE. GOVERNANCE AND,MANAGEMENT Coverning document The charity is a ¢h&ritsble in¢orN)rated OTgan15ation ICIOI and was established by a constitution dated 18 NoYemb¢r, regisiered with the Charity Commission on 8 December 2020. Recrnltment #nd Appolntmemt of trustees Every trustee must be a natural person and there must be a minimum of 3 trustees and ijot more than 12. In selecting individuals for appointm¢nt as trustees, the trustees Ellu5t have regard to the skills, knowledge and experience needed for the effective administration of the charity. Prospective rrustees are select¢d and appointed by the chair and other tn]5tees who have recognised k¢y skills that are needed running an Arts OTganisation, thi5 includ¢5 financial aGumen. policy and recrniimeni knowledge. Organtsxtlonal strueture The d&y-to-day operdtions of the charity are run by a Development Director (Sarah Coop), a Communi¢aiions Dire¢tor INi¢ky Webb) and the Concerts & Competition Mana8er (lan Br2gnall}. Thes¢ roles or¢ supported by a full tim¢ L¢3rning and tkvelopfftent Coordinator, a part time FinaTrce Director and part lime Communicatiotis aod Developm¢nt assisiants. Alongside these role5 are volunteer5 a Patrons Coordinator, Volunteer Mall2ger, Alumni Manager and an Operations Coordinator. The Board of Truslees m¢¢ts quarterly to manage the affairs of ihe charity and to provide strategiG overstght and financial goveman¢e of the charity. The ¢u]Teni chair of the Trustees Sarah Kowitz ÉS acting CEO and is the delegated senior tnanager for day-to-day management. This is ¢urr¢nily under review as the ¢harity looks to find a new senior management structure. Pag¢ 4
HASTINGS IwfERNATIONAL PIANO REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 JUNE 2025 SI'RiICTURL GOVERNANCE AND MANAGEMENT IDduttion trnining of new trustees New tTUStees are invited and encourBged to att¢nd a seri¢s of short training sessions to familiaris¢ themselves with th¢ charity and th¢ CQDtext within whi¢h it op¢tat¢s. These will cover. Th¢ obligations of the trustees The main doeuments whi¢h set out the operational framework for the ¢harity Resourcing and the CUTrettt financial position &s set out in the latest published a¢¢ounts. Key thanagement rernuneratio The trustees consider thai the irust¢e8 the D¢velopm¢nt Dire¢ior, the Communi¢&tions Dire¢tor and the General Manager are the k¢y Managemeni petsonnel of the Charity. All tNstees give their time freely an no trustees receEved remuneration i the year. ReMner110n for other k¢y managemeni p¢rsonn¢l is approved by the trustees. Risk mADxgemeDt The trustees have a duty to idet)tify and review the risks io which the charity is exposed and to ensure appropriate controls are tn pla¢¢ to provide re&wn&ble &ssurance a8ainsl fraud and error. The charity is subject to Fittancial. Le8tslativt and Operational Risks and has taken steps to mitigate such risks. FÉn8n¢ial Risk The charity aims to dtversify its sour¢¢$ of funding, whÉ¢h are primarily from it5 operations {including ticket sales and ¢ompetition entry fet5}, privat¢ donations and 8rants. The charity is a¢tiv¢ly pursuing grants io assist with its outreach plans, in particular for the eduealional ¢v¢nts planned as part of Hting$ lllt¢mation&l Pi&llo Festival. Ha5ting5 Internatsonal Piano matntains a multi-tiered patrons, scherne to encoura8e support for the concerto competition atkd the piano fesiaval. The charity is also pro-active in encour]ft8 support from local orgattisatiorts and busjnesses. Legislative Risk The charity maintains a Risk Register for its health aTrd safety at their ¢v¢nts. Procedures are in place to ensure compliance with child protection; two m¢mbers of stsff ar¢ ¢nhan¢¢d DBS ¢he¢ked and are Mental He<h first aiders. Policies for h¢alth and safety of Staff. volutttcers. competitors, adjudicator5 and audience members are up to date. Operational Risk As well as the risks outlined ab)ve. the charity faees additsonal operational risks, including the risk of unavailability of venue5 on destred dat¢5. lack of competitors. unavailability of adjudi¢aiors and redu¢ed audien¢e members. These risks are mittgated in the d¢velopmeni of our stl¢gI¢ plan, which allows for the divcrsification of fundin& activities and venues. and in the agile mattagement of our operations. roved by order of the board of trnstees on.. and signed on its behalf by.. rs S H Kowits- Trustee Page 5
INDEPBNDENT EXAMINER'S REPORT TO THE TRUSTEES OF HASTIN tNTERNA TI NAL PIANO Independent examlner's report to the trtssiees of Hastlngs International Plano ('the Ch#rity') I report to the charity trustees on my ex8mination of the 8¢wunts of the Charity for the year ended 30 June 2025. RespoN5ibilÈties bx5is of report As the charity's tnJs(ee$ you ar¢ r¢S$1b]e for the preparation of the a¢¢ounis in a¢¢ordan¢e with th¢ r¢quir¢m¢nts of th¢ Charitie5 Act 2011 (Ihe Act'l. I report in respect of rny examinatioEJ of your charity's accounts as carried out under Se£tion 145 of the Act and in caTryill8 oui my examination E have followed The Directions given by ihe Charity Commission under Section 145(5) (b) of the Act. Ind¢p¢nd¢nt ¢x8miner'$ $tat¢meDt SÉ#¢e your ¢harity's gross irtcome exceeded £250.000 yo1 examiner must be a member of a listed body. l ¢an ¢onfLmi that I am qualified to undertake the examinotioTh because l am a member of the Instite of Chartered Accountants in England and Wales. which is orte of the listed iy)ditS. I have ¢ompleted my ¢xamination. I co¢Jfim) ihat no matters have ¢ome to my attention in cortnertion with the ¢xaminatio giving me ¢aust to believe.. accounting records were not kept in respect of the Charity as required by Section 130 of the A¢t- or the a¢¢ounts do noi accord with those re¢ords,' or ¢h¢ a¢¢ounts did rto¢ comply with the applicable requirements con¢eming the foml and content of a¢¢(>unis set out i the Charitxes (Account5 and Reports) Re8ulations 2008 other than any requirement that the account5 8lVt a 'true and fair. view which is not o matter considered as part of an independent exaJnination. I hav¢ no wncerns and have wm¢ across no other matters in ¢onneciion with the examination to which att¢niion stiould be drawn in this Teport in order to enable a proper utlderstanding of the atcounts to be reached. S G Whorltsw FCA Cassidys Chartered Accountants South Stour Offices South Stour Road Mer5ham Ashford Kent TN25 7HS Dare.. Page 6
HASTIN NO STATEMEN'T OF FINAN IA FOR THE YEAR ENDED 30 JUNE 2025 30.6.25 Total funds 30.6.24 Toial fund5 Unrestricted fund Restricted fLnds Notes IliCOME AfD ENDOWMENTS FROM Donations and l¢gacies 153.468 55.666 209,134 558,996 Ch4ri¢4bl¢ g¢tlviti¢s Piano Compdilion Piano Concert 69,805 6,027 21,708 21.708 Oth¢T trading activities Investmeni income Other income- Orchestrd Tax R¢li¢f 4,890 2.187 18,082 4.890 2,187 18.082 3,635 Toial 200,335 55,666 256.001 EXPENDITURE ON Raisitt8 fund5 3.237 3,237 2,057 ChY4ritablt Aftivities Piano Competition Piano Cottcert Educational activities General and support ¢osts 5,444 5,000 93,801 5,444 59,189 93,801 115,081 249,664 9,235 8,821 204,489 54,189 115 081 172,507 104,245 276.752 474 266 NET IP*COMEI{EXPENDITURE) 27,828 148.5791 120,751) 164,197 RECONCILIATION OF FUNDS Total funds brought forward 112.575 56.742 169.317 5.120 TOTAL FUNDS CARRIED FORWARD 140403 8,163 148,566 169.317 The notes fonn part of these fEnancial stat¢m¢nts Page 7
HASTINGS INTERNATIONAL PIANO BALANCE SHEET O JUNE 2025 30.6.25 Total funds 30.6.24 Total funds Uniestrict¢d furEd Restricted futids Notes FIXED ASSETS Tangible assets 13 860 860 342 CL'RRENT ASSETS Debtors Cash * bank and in hand 14 79,653 79,653 131437 1,013 197 380 167,017 44,073 211,090 198,393 CREDITORS Amoynis falltng due within one year 15 127,474} 135,9101 (63,384) (29,4181 NET CURRENT ASSETS 139.543 147706 168,975 TOTAL ASSETS LESS CURREwr LIABILITIES 140,403 8,163 148,566 169.317 NET ASSETS 140.403 8.163 148 566 169J17 16 Unr¢stri¢ted funds Restricted funds 140.403 8.163 112,575 56.742 TOTAL FUTr4DS 148.566 169.317 The financial statements were approved by th¢ Board of Trustees and authorised for issue on and were signed on its behalf by.. S H Kowitz. Trusttt The notes form part of these financial statements Page 8
4STfN PIA CASH FL TATEM FOR THE YEAR EINDED 30 JUNE 2025 30.6.25 30.6.24 Notes Casb flows from operating ietivities Cash generated from operations Tax paid {46,91.3) 18.0821 160.045 N¢1 cash (used inVpn)vided by operating activities 160045 C85h Ilows from inv¢$ting a¢tivitles Pur¢has¢ of tsngible fixed assets Nei cash used in investing activities Cb8Age eAsh eash equivalents tb¢ reporting period Cash alld cash equivalent5 8t the begittning of ¢h¢ r¢portillg period (65,943) 159,589 197 380 CAsh And tgsh equiv2l¢nt$ at the eod of the reporti% period 131437 197 380 The notes fonn part of these finan¢ial stat¢m¢nts Pa8¢ 9
HASTIGs LNTERNATIONAL PIANO NOTES TO THE CASH FLOW STA TEMENT FOR THE YEAR ENDED 30 IlF 2025 RECONCILIATION OF NET {EXPENDITUREyINCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES 30.6.25 30.6.24 Net {expenditrtyINeoffie for the reporting period {a5 per the Statement of Fin3DciHI Activities) Adju$tment$ for". Depreciation charges {Increaselldecreas¢ in debtors Increasel{dtcrea5e) in creditors 120.7511 164,197 430 {60.5581 33,966 3,188 7.454} Net C25b (used inyprovided by operations 46913} 160045 ANALYSIS OF CHANGES JN NET FUNDS At 1.7.24 Cash flow At 30.6.25 N¢¢ cash Cash at bartk and in hand 197.380 65.943 131.437 197380 65 943} 131437 Total 197380 65.9431 131.437 The note5 fonn part of these financial statements Page 10
HASTINGS INTERNATIONAL PIANO NOTES TO THE FINAN IAL TA TEMEN FOR THE YEAR EED 30 JUNE 20?5 ACCOUNTING POLICJES Basis of preparlng the fin#tseil siateffttnts HastiTrgs International Piano is a charitabl¢ incorporated organisation, registered with the Charity Commission in England and Wales. The charity s registered number and r¢81Ster office address ran be found on the Reference attd Administrative Details page. The fEnancial statements of the charity, which is a public benefit entity under FRS 102. have beeft prepared in accordance with the Charities SORP IFRS 102)'Accounting and Reponing by Charitie5'. Statement of RecoEMm¢ndcd Practice applicable to charities prepsring their accounts In accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) {effective l January 2019),. Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland, and the Charities A¢t 2011. The financial staiements have been prepared under the hisiorical cosi ¢onvettiion. The presentation ¢TrenCY of the financial statements is Pound Sterlin81£) and omouTrts are rounded to the nearest £. Incotne All income is reeognised the Statement of Financial Activities once the ¢hartry has entitlement to the funds, it LS probable that the inctsme will be received and the amount can bc measured reliably. ExpeDdlture Liabilities art recognised a5 expenditure as soon a5 there is a legal or constructive oblgatiOn committing the charity to that expenditure, it is probabl¢ that a transf¢r of ¢conomi¢ ben¢fiis will be required in s¢ttl¢m¢nt and th¢ amollot of the obligation be m¢a5ured reliably. Expettditure is accounted for on an accruals b&8ss and has been classified under headings that aggre8ate all cost related to the ¢at¢gory. Where costs ¢annot be directly attrtbuted to particular h¢adtng5 they have been allocated io actiYili¢5 on a bas15 consistent with the use of resources. T#ngible filed issets Dep¢atIon is provEded at the followtn8 annual rates in order to write off each a5seÉ over its estimated useful life. Computer equipment 25Vo on cost Taxtion The charity is exempt from corporation tax on its charatable activities. The charity ha5 taken advant%e of Orchestr& Tax Relief where available. Fund #ceounting UTrrestrtcted funds can be in aecordance with the charitable obj¢ctiv¢s at the discretion of the trustees. Restricted funds catt only be used for particttlar restricted purposes within the objects of the charity. R¢5trictions arise when specifJ¢d by the donor or when funds are raised for particular resiiicied purposes. FLkrther explanation of the nature and putp)se of ¢a¢h fund is iTr¢luded irt the notes to ihe financial statements. Hire purchase and leg$inE commitmtnt$ Rcnta15 paid under operating leases are charged to the Statement of FiThaTh¢ial Ae¢iviti¢s on 8 strdight line basis over the period of th¢ l¢ase. Pension costs other post-retirement benefits The charity operates a defined contribution pension scheme. CoEJtribuiions payable to the charity's pension Scheme are charged to the Sthtemeut of Financi Aciivities in the period to which they relate. Pagell continued...
ONAL PIANO TES TO THE FÉNANCIAL STA TEMENTS- ¢ontinued FOR THE YEAR ENDED 30 JUNE 2025 ACCOUNTING POLICIES- continued Debtors And ereditors due withlrt one year Debtors and creditors due within one y¢8r with no stsied int¢resi rate are rec4)rded at iransa¢tion pri¢e. Any losses arising from impairtnent are recogni5ed &s expenditure in the Stat¢m¢nt of Financial Activitie5. DONATIONS AND LEGACIES 30.6.25 30.6.24 DoThation5 Gift aid Grants Subwriptions 108,567 13.036 56,073 31.458 464,915 3,005 46,550 44,526 209.134 558.996 Grant5 received. in¢luded in the above. are &s follow5-. 30.6.25 30.6.24 Arts Council England Other grants 2.950 53.123 20,000 26.550 56.073 46.550 OTHER TRADING ACTIVITIES 30.6.25 30.6.24 Futkdrdistng ev¢nts 4.890 INVESTMEIYT INCOME 30.6.25 30.6.24 Bank interest received 2.187 3.635 Pag¢ 12 ontinued...
HASTINGS tNTERNATIONAL PIANO NOTES TO THE FtNAN'CIAL STATEN4ENTS- continued FOR THE YEAR ENDED 'NE 2025 INCOME FROM CHARITABLE ACTIVITIES 30.6.25 30.6.24 Activity Piatio Competitiort Piano Concert Comp¢tition Income Concert Income 69.805 75.832 RAISING Fur4Ds R*isiDg dor&8tion5 Attd leg•cies 30.6 25 30.6.24 Fundraising expenses CHARITABLE AcfivITIES COSTS Support costs (see note 8) Direct Costs TthS Piano c.ompetition Piano Concert Edu¢aiional aciivities General atEd 5UPPOrt costs 5,444 59,189 93,801 5,444 59,189 93,801 115.081 115.081 158,434 115.081 273,515 SUPPORTCOSTS Infomiatiotj technology Governance cost5 Management Finance Totsls General and 5%JPPOrt costs 982 19,614 4,076 115.081 Page 13 continued...
HASTINGS INTERNATIONAL PIANO NO'I'E 'io'tIlE TrINANC.IAL S'I'ATLMENT coiiunv PIET tNCOMEI{EXPEP4DITLIIE) Net incornellexpendilurel is slotrd aft¢r chargin¥l{crcditsngl' 30.6.24 Independcnt exainincrfs fees for the examiiiaiion of the financi21 ststements Independent exaiminer's fees for aecountaiy services 1.200 293 io. TRUSTEES, AND KEY MANAC.EMENT REMIINERA TION AliD BENEFIT.8 iere w¢re no trustee5' r¢inunera¢ion or othtr benefits for the year ended 30 June 2025 iior for die year ended 30 Ju11c 2024. During the year there were 3 12024.. 3) irtdtviduals considered 10 be key manageitjent and (hey receiN'ed retnuncTatlDll and fees of £119,638 120?4.. £108,348) aggregat¢. No iiidividual re¢¢ived f¢¢s in ¢xr¢ss of £60.000. Trustee¥, txpenses There were no trustees, expens&% paid tor the year ended 30 Jiitte ?025 nor tor ihe year ended 30 June ?0?4. STAFF COSTS 30.6.?5 30.6.24 Wage5 and sa13ries SoKsal securiiy costs Other pensi CDSts 69,280 365 749 The average moiithly number of employees durin¥ the YearaS 8s ftsllows.. 30.6.24 Administratiott No eniployees received emoluLiiertts in ex¢ess (>f£60.000. Pagc 14 Coniiiiucd...
HASTINGS INTERNATIONIAL PIANO NOTES TO THE FINANCIAL STATEMENTS- ¢ontioued FOR THE YEAR ENDED 30 JUNE 2025 12. COMPARATIVES FOR THE STATEMENT OF FINANCIAL AcfiviTIES b'nresiricted fund Resiri¢ted funds Total funds INCOME AND ENDOWMENTS FROM Donaiions and legacies 475,754 83,242 558,996 Cbarit*ble g¢tivitt¢s Ptano Competition Piano Con¢e 69,805 6,027 69.805 6.027 Investment income 3.635 Totsl 555 221 638 463 EXPEYDITURE ON Raising funds 2,057 2,057 Cbarltable 2rtivitie$ Piano Competition Piano Concert Educational aciivities General aThd support Costs 223,164 9,23S 8,821 204.489 26.500 249.664 9,235 8,821 204.489 26.500 474,266 NET INCOME 107.455 56.742 164,197 RECONCILIAI'ION OF FUNDS Total futtds brought forward 5.120 5,120 TOTAL VUNDS CARRIED FORWARD 169317 Page IS cotttinued...
HASTGs INTERNATIONAL PIANO S TO THE FENANCIAL STA TEMENTS- conttnued FOR THE YEAR ENDED 13. TANGIBLE FIXED ASSETS Compu1er equipment COST At l July 2024 Additions 456 At 30 June 2025 1.404 DEPRECIATION Ai l July 2024 Charge for year 430 At 30 June 2025 544 NET BOOK VALUE At 30 June 2025 860 At 30 June 2024 342 14. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 30.6.25 30.6.24 Trade debtors 400 18,082 61.571 Prepayments and a¢ctued income 613 79.653 Pag¢ 16 continued...
HASTINGS NTERNATIONAL PIANO NOTES TO THE FINANCIAL STATEMENTS- continu EYEARE F.D 30 JL'NE 2025 15. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 30.6.25 30.6.24 Trade creditors So¢ial se¢urity and other taxes Other ¢reditors A¢¢ruals and d¢feryed In¢ome A¢¢nJed expenses 16.719 3.624 211 36.830 23.713 266 359 5.080 16. MOVEMENf IN FUNDS Net mov¢m¢nt in fund5 At 30.6.25 Ai 1.7.24 Unrestricted funds General fund 112.575 27.828 140.403 Restrleted (und$ Education & En8a8ement 56,742 148,579) 8,163 TOTAL FUNDS 169317 20.7511 148,566 Net movement in funds. intludtd in the above are as follows.. Incoming resources R¢sources ¢xpended Movetnent in funds LIDre5tricttd funds G¢D¢ral fund 2[.335 (172.507> 27.828 R¢stritted fund$ Education & Engagement Concerts Competition 45,222 5.000 5.444 (93,801) 15,000) (48.579} 55,666 104.2451 48,579) TOTAL FUP4DS 256.001 276,7521 20.751) Page 17 continued...
HASTINGS INTERNATIONAL PIANO NOTES TO'f14E FINANCIAL TATEMENTS- contirkued HE YF.AR ENDED 30 JLNL 2025 16. .MOVEMEP4T IN FUNDS- eolltlned ComparAtive5 for movement In funds Net ovement tn funds At 30.6.24 At 1.7.23 tinrestricted funds General fund 5,120 107.455 112.575 Restricted funds Education & En8a8emenÈ 56.742 56,742 TOTAL FUNDS 164 197 169,317 Comparativ¢ net movement in funds. tncluded in the above are as follows.. In¢oming resources R¢sources expended Movement in fvnds Unrestricted fundy General fund 555,221 {447,766} 107,455 Restrlcted funds Education & Engagemeni 23-24 Compttition 56.742 26.500 56,742 26.500) 83,242 26.SlX) TOTAL FL'NDS 638 463 474,266} 164,197 Edu¢Ation and Engagement- Fund5 are held for the cost of Providing lh¢ learning & participatloll PTogramtne. Concerts- Funds are held to support the ongoing program of concerts. CoDJpetition Competition. Funds are held for the ¢ost of tnaintaEnin8 the biennial Hastings Iniemational Piano Concerto Page 18 Continued...
STINGS INTEILNA TIONAL PIANO NOTES TO THE FNANCIAL STA TEMENTS- ¢ontinued FOR THE I'EAR ENDED 30 JUNE 2025 17. RELATED PARTY DISCLOSURES ])uring the year donations totslling 10.00012024.. £20.000} and membership subscriptions of £700 (2024.. £5,600) were received from trustees of the charsty. In addition, donations of £20,665 (2024.. £145,000) were received frorn the Kowitz Familv Foundation {UK) Limited, a charity in whÉch .Mrs S H Kowiiz ts a trnstee and donatsons of £65.000 were received from L'S Friends of H8stiDgs Piano, a nonprofii organisation registered in the L'PSA sn whieh Mrs S H Kowilz is Vice President. There were no cOndtIOnS attached to the donations. During the year the ¢harJty made use tsf Fairlight Hall EstatE5, a business owned by a close family member of Mrs S H Kowit4 to reduce expetjses with regards to events held by the charity. £4,850 (2024.. £10,565) was ¢harged to the charity during the y¢ar by Fairlighi Hall Estaies. being less ihan the actual cost incurred by the busines5. A5 at 30 June 2025 £niS12024.. £nil) was due to Fairlight Hall Estates. Page 19