Somerset International Festival of the Arts
Trustees’ Report and Financial Statements
31 December 2024
Charity Number: 1195625
Somerset International Festival of the Arts Trustees’ Report & Financial Statements Year ended 31 December 2024
Reference and administrative information
Trustees
The trustees who served during the period were:
Simon Kodurand Professor Neil Allan John Turbervill
Charity Details
Registered Charity Number: 1195625
The charity is a Foundation Charitable Incorporated Organisation, which was registered on 25 August 2021. Its governing document is the CIO Constitution.
Address
Park Lodge 170 Main Road Cleeve Bristol BS49 4PP
Bankers
NatWest Bank Plc
Correspondence
somersetfestivalarts@gmail.com
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Somerset International Festival of the Arts Trustees’ Report & Financial Statements Year ended 31 December 2024
Trustees’ Report
The Trustees present their report and financial statements for the period ended 31 December 2024.
Charitable Objects and Activities
The Objects stated in the Constitution are as follows:
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To promote, develop and maintain public education with an appreciation of music and the arts in all aspects by presentation of public concerts and other aspects such as masterclasses, workshops, exhibitions and talks.
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To give musicians and artists in Somerset an opportunity to develop their knowledge and skills for the beneXit of the community through performance and exhibitions.
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To support other charitable organisations.
The second International Festival took place in October 2024, in Backwell, North Somerset. There were two aspects to the Festival:
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Four concerts at St Andrew’s Church, Backwell, to provide an opportunity for local residents to enjoy performances by top quality musicians outside a big city;
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Educational events for local children, to introduce them to the joy of music.
The Concerts
The evening programmes featured: The Glory of the Baroque, A Tribute to the Beatles, and Richter’s Four Seasons with an Einaudi selection. There was also a lunchtime performance of Schubert’s String Quintet in C. Audience numbers for all of the concerts were encouraging.
SIFA Education
We believe that music is an integral part of life’s education, and that equal access to music should be an opportunity given to all. SIFA Education was founded to provide unique transformative musical experiences through our education and outreach projects across Somerset, supporting and nurturing music education through partnership programmes with schools and the local community. Led by violinists Simon & Liv-Marie Kodurand, with exceptional tutors from the award-winning Bristol Ensemble Preludes, we unite children to engage in high-quality music making. For many local school children these workshops are their Xirst interactive musical experience.
Our music education workshops give children an invaluable opportunity to learn about music, listen to world-class musicians, play a variety of musical instruments, and make music together. Parts of these workshops are dedicated to group singing and rhythm exercises to promote a sense of belonging and boost self-esteem. Each of the music education workshops link to the national curriculum, ensuring cross-links to other subjects.
We also held a Festival Fun Day, which was a themed participatory event, bringing young people of all ages together to hear and play instruments of the orchestra.
In 2024 we reached nearly 2,000 Year 6 school children in primary schools in North Somerset; easily exceeding our target of doubling the 700 children we reached in 2023. In 2025 we aim to expand the programme to run year-round, and over the whole of Somerset.
We also held a successful family workshop day hosted by Music for Miniatures, with over 50 local children.
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Somerset International Festival of the Arts Trustees’ Report & Financial Statements Year ended 31 December 2024
Governance
The trustees meet regularly to discuss developments, Xinances, and other matters.
Financial Summary
Total income for this period was £14,801, and total expenses were £15,505, resulting in a deXicit of £704 which was covered by the brought forward bank balance.
Trustee Remuneration & Expenses
No Trustee was paid any remuneration or received any other benefits, except as mentioned below. No Trustee was reimbursed any expenses.
Liv-Marie Kodurand, who is Simon Kodurand’s wife, played in one of the concerts free of charge. She also worked for about 100 hours on administration and fund-raising, for which she was paid a fee of £500, which is significantly less than the market rate.
Related Party Transactions
There were no other related party transactions.
Reserves
The trustees intend to maintain sufficient reserves to meet anticipated expenditure.
Public Benefit Statement
The trustees consider that they have complied with their duty as set out in Section 17 Charities Act 2011, which is to have regard to the guidance on public benefit published by the Charity Commission when exercising any powers or duties to which the guidance is relevant.
Risk Management
The trustees regularly consider the risks to which the charity is exposed, and consider that adequate risk management procedures are in place.
Statement of Trustees’ Responsibilities
The Trustees are responsible for preparing the Trustees’ Report and the financial statements in accordance with applicable law and United Kingdom accounting standards (FRS 102: the Financial Reporting Standard applicable in the UK and Ireland).
Law applicable to charities in England and Wales requires the Trustees to prepare financial statements for each financial period which give a true and fair view of the charity’s financial activities during the period, and of its financial position at the period end. In preparing these statements the Trustees are required to:
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Select suitable accounting policies and apply them consistently;
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Make judgments and estimates that are reasonable and prudent;
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Observe methods and principles in the Charities SORP 2015 (FRS 102);
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State whether the financial statements comply with applicable accounting standards and the charity governing documents and rules, subject to any material departures disclosed and explained in the financial statements;
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Prepare the financial statements on a going concern basis, unless it is inappropriate to presume that the charity will continue its activities.
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Somerset International Festival of the Arts Trustees’ Report & Financial Statements Year ended 31 December 2024
The Trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity, and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008, and the provisions of the governing documents. They are also responsible for safeguarding the assets of the charity, and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The Trustees’ Report was approved by the Trustees on 14 February 2025 and signed on their behalf by:
Simon Kodurand
Simon Kodurand Trustee
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Somerset International Festival of the Arts Trustees’ Report & Financial Statements Year ended 31 December 2024
Statement of Financial Activities
| Year Ended | Period Ended | ||
|---|---|---|---|
| 31 December | 31 December | ||
| 2024 | 2023 | ||
| Income: | Note | ||
| Donations | 3 | 10,050 | 8,650 |
| Concert Receipts | 4,751 | 5,479 | |
| 14,801 | 14,129 | ||
| Expenses: | |||
| Charitable Activities | |||
| Performances & Education | 13,959 | 11,322 | |
| Support Costs | 1,546 | 1,228 | |
| 15,505 | 12,550 | ||
| Net Income/(Deficit) | (704) | 1,579 | |
| Total Funds brought forward | 1,579 | - | |
| Total Funds carried forward | 875 | 1,579 |
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Somerset International Festival of the Arts Trustees’ Report & Financial Statements Year ended 31 December 2024
Balance Sheet
| 31 December | 31 December | |
|---|---|---|
| 2024 | 2023 | |
| Current assets: | ||
| Cash at bank | 876 | 1,579 |
| Total net assets | 876 | 1,579 |
| Funds of the Charity | ||
| Unrestricted Funds | 876 | 1,579 |
| Total Funds | 876 | 1,579 |
The Xinancial statements were approved by the Trustees on 14 February 2025, and were signed on their behalf by:
Simon Kodurand
Simon Kodurand Trustee
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Somerset International Festival of the Arts Trustees’ Report & Financial Statements Year ended 31 December 2024
Notes to the Financial Statements
1. Basis of preparation & Going Concern
These accounts have been prepared under the historical cost convention, as modiXied by the inclusion of investments at market value unless otherwise stated in the relevant notes to these accounts. The Trustees consider that there are no material uncertainties about the Trust's ability to continue as a going concern.
The accounts have been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) issued on 16 July 2014, with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102), and with the Charities Act 2011.
The charity constitutes a public beneXit entity as deXined by FRS 102.
2. Accounting Policies
Income
Income is included in the Statement of Financial Activities when the charity becomes entitled to receive it, and its monetary value can be estimated with sufXicient reliability.
Expenditure & Liabilities
Expenditure is recognised where it is more likely than not that there is a legal or constructive obligation committing the charity to pay it, and the obligation can be measured with reasonable certainty.
Debtors & Creditors
Debtors and creditors are measured on initial recognition at settlement amount, and subsequently at the amount expected to be received or paid.
| 3. Donations Backwell Parish Council Bristol Airport Ltd Donation(s) from individuals Donated Services The Marchus Trust Nailsea Community Trust Nailsea Rotary Club The Ninesquare Trust Parkers Estate Agents Total |
2024 750 2,000 - 1,050 - 900 250 5,000 100 10,050 |
2023 750 1,600 500 - 4,600 850 250 - 100 |
|---|---|---|
| 8,650 |
We are extremely grateful for the generosity of our donors, without which the Festival could not have taken place.
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