Gower Festival Society CIO Financial Statements For the Year Ended 31 December 2023
Watkins Bradfield & Co., HW Vaughan & Co. and WBV are trading names of WBV Limited, a company registered in England & Wales No. 07250663 Registered Office: Woodfield House, Castle Walk, Neath SA11 3LN Registered to carry on audit work in the UK and regulated for a range of investment business activities by the Institute of Chartered Accountants in England and Wales Details of our audit registration can be viewed at www.auditregister.org.uk under reference number C002565389
Gower Festival Society CIO
Index
Year Ended 31 December 2023
| Page | |
|---|---|
| Annual Report | 1 – 3 |
| Independent Examiners Report | 4 |
| Financial Statements | 5 – 7 |
| Notes to the Accounts | 8 |
Gower Festival Society CIO
Annual Report
Year Ended 31 December 2023
ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS
| CHARITY REGISTRATION NO. | 1198053 |
|---|---|
| PRESIDENT | Sir Karl Jenkins |
| CHAIRMAN | Mr W J Anderson |
| SECRETARY | Professor Peter Kokelaar |
| TREASURER | Mr John Mahoney |
| FESTIVAL SECRETARY | Mr David Pope |
| MEMBERSHIP SECRETARY | Mrs Anne Pope |
| EXECUTIVE COMMITTEE | Dr H Dunthorne |
| Miss V M Beynon | |
| Mr A Mathias (resigned 31.07.2023) | |
| Mr C Johnson | |
| Mr M Jenkins | |
| Mrs D Lloyd | |
| Mr W N Jones | |
| Mr L Carpanini | |
| Professor Roger Taylor (appointed 17.03.2023) | |
| Mrs J Wright (appointed 26.05.2023) | |
| BANKERS | HSBC Bank plc |
| Portland Street | |
| Swansea | |
| SA1 3DF | |
| INDEPENDENT EXAMINER | Richard N Chapple BSc (Econ) FCCA |
| WBV Limited | |
| Chartered Accountants | |
| The Third Floor | |
| Langdon House | |
| Langdon Road | |
| SA1 Swansea Waterfront | |
| Swansea | |
| SA1 8QY |
1
Gower Festival Society CIO
Annual Report
Year Ended 31 December 2023
The Gower Festival Society CIO is registered with the Charity Commissioners (No: 1198053) and constituted by Deed of Trust.
STRUCTURE, GOVERNANCE AND MANAGEMENT
The Charity is administered by the officers of the society and executive committee comprising:-
Trustees
President Sir Karl Jenkins Chairman Mr W J Anderson Secretary Professor B P Kokelaar Festival Secretary Mr D Pope Treasurer Mr J F Mahoney Membership Secretary Mrs A Pope Executive Committee Dr H Dunthorne Miss V M Beynon Mr A Mathias (resigned 31.07.2023) Mr C Johnson Mr M Jenkins Mrs D Lloyd Mr W N Jones Mr L Carpanini Professor Roger Taylor (appointed 17.03.2023) Mrs J Wright (appointed 26.05.2023)
Trustees are appointed following election by members of the Executive Committee.
New Trustees meet fellow trustees during the induction day. They are encouraged to attend appropriate external training events where these will facilitate the undertaking of their role.
OBJECTS AND ACTIVITIES
The object of the Society is to educate the public in the appreciation of music and other arts, principally by arranging an annual Festival in the district of Swansea and Gower.
-
In furtherance of the above object (but not otherwise) the Society may:
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a) promote, organise and hold an annual Festival;
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b) encourage and promote concerts, recitals and other events;
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c) undertake fund-raising activities to attract donations (but not to engage in any form of permanent trading);
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d) do all such lawful things as shall be necessary for achieving the aims of the Society including the acquisition of such items of personalty as the executive committee shall from time to time in its absolute discretion decide.
ACHIEVEMENTS, PERFORMANCE AND FINANCIAL REVIEW
The society was constituted on 24 February 2022 and acquired the assets and activities of Gower Festival Society from that date.
The Society aims to maintain its level of reserves in future years to enable it to effectively undertake the Society’s objectives in accordance with the terms of the Deed of Trust.
2
Gower Festival Society CIO
Annual Report
Year Ended 31 December 2023
PUBLIC BENEFIT
The Trustees are aware of their responsibilities in ensuring that the Society delivers identifiable benefits to the public in accord with established objectives and permitted activities. We have referred to the guidance contained in the Charity Commission’s general guidance on public benefit when reviewing our aims and objectives and in planning our future activities. In particular, the Trustees consider how planned activities will contribute to the aims and objectives they have set.
Signed For and on behalf of the Management Committee
W J Anderson Chairman
J F Mahoney Treasurer
Date:
3
Gower Festival Society CIO
Independent Examiner’s Report to the Gower Festival Society
Year Ended 31 December 2023
I report to the charity trustees on my examination of the accounts of the charity for the year to 31 December 2023 which are set out on pages 5 to 8.
Responsibilities and basis of report
As the charity’s trustees you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the Act’).
I report in respect of my examination of the charity’s accounts carried out under section 145 of the Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
Independent examiner's statement
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
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1 accounting records were not kept in respect of the charity as required by section 130 of the Act; or
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2 the accounts do not accord with those records.
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Richard N Chapple Bsc (Econ) FCCA WBV Limited The Third Floor Langdon House Langdon Road Sa1 Swansea Waterfront Swansea SA1 8QY
Date:
4
Gower Festival Society CIO
Financial Statements
Year Ended 31 December 2023
1. RECEIPTS AND PAYMENTS ACCOUNT (GENERAL PURPOSES FUND)
| Income Receipts Subscriptons Donatons Gif Aid Ticket receipts Programme sales Advertsing receipts Sponsorships Bar receipts 100 Club Investment Income Bank and Building Society Interest TOTAL RECEIPTS Charitable Actvites Professional Fees Artstc Directors Fees Instrument & concert costs Hall Hire Printng and Advertsing Commission tcket sales Performing rights society Bank charges Insurance Postage, Statonery and Telephone Sundry Expenses Donaton to Piano Fund TOTAL PAYMENTS Net Receipts for the year Cash and Bank Balances at 31 December 2022 Cash and Bank Balances at 31 December 2023 |
31/12/2023 £ £ 2,792 2,075 1,678 6,545 29,435 842 1,860 13,525 454 721 46,837 1,009 54,391 22,850 3,750 4,180 2,106 8,672 2,002 770 146 44,476 675 543 1,722 75 3,015 47,491 6,900 36,823 43,723 43,723 43,723 |
31/12/2023 £ £ 2,792 2,075 1,678 6,545 29,435 842 1,860 13,525 454 721 46,837 1,009 54,391 22,850 3,750 4,180 2,106 8,672 2,002 770 146 44,476 675 543 1,722 75 3,015 47,491 6,900 36,823 43,723 43,723 43,723 |
31/12/2022 267 1,731 1,109 |
3,107 31,834 242 |
|---|---|---|---|---|
| 29,435 842 1,860 13,525 454 721 |
21,545 731 2,030 6,325 419 784 |
|||
| 22,850 3,750 4,180 2,106 8,672 2,002 770 146 |
22,262 2,250 3,594 1,060 6,687 707 659 0 |
|||
| 54,391 | 35183 | |||
| 44,476 3,015 |
37,219 1,819 |
|||
| 675 543 1,722 75 |
634 399 711 75 |
|||
| 47,491 | 39,038 | |||
| 6,900 36,823 |
(3,855) 40,678 |
|||
| 43,723 | 36,823 | |||
| 43,723 | 36,823 | |||
| 43,723 | 36,823 |
5
Gower Festival Society CIO
Financial Statements
Year Ended 31 December 2023
2. RECEIPTS AND PAYMENTS ACCOUNT (PIANO FUND)
| ECEIPTS AND PAYMENTS ACCOUNT (PIANO FUND) | |||
|---|---|---|---|
| Income Receipts Piano Income Payments Insurance Piano maintenance Bank charges Net Receipts for the year Cash and Bank Balances at 31 December 2022 Fund Balance at 31 December 2023 |
31/12/2023 £ £ 500 114 622 - 736 (236) 2,571 2,335 |
31/12/2022 500 114 553 50 717 (217) 2,788 2,571 |
|
| 114 622 - |
114 553 50 |
||
| (217) 2,788 |
|||
| 2,571 |
6
Gower Festival Society CIO
Financial Statements
Year Ended 31 December 2023
3. STATEMENT OF ASSETS AND LIABILITIES
| Tangible Fixed Assets Piano Current Assets HSBC Treasurer’s Account Swansea Building Society Account HSBC Current Account Payment in advance Current Liabilites Receipt in advance Deferred Income Capital Grant Represented by: General Fund:- Balance at 31 December 2022 Net receipts for the period Depreciaton for the period Amortsaton of Grant Piano Fund (Restricted Fund) Balance at 31 December 2022 Net (receipts) for the period |
31/12/2023 £ £ 1,000 146 42,108 3,504 300 46,058 - 46,058 47,058 - 47,058 36,901 6,900 (510) 1,432 44,723 2,571 (236) 2,335 47,058 |
31/12/2022 1,510 7,736 32,108 - - 39,844 (450) 39,394 40,904 (1,432) 39,472 40,849 (3,855) (1,517) 1,424 36,901 2,788 (217) 2,571 39,472 |
31/12/2022 1,510 7,736 32,108 - - 39,844 (450) 39,394 40,904 (1,432) 39,472 40,849 (3,855) (1,517) 1,424 36,901 2,788 (217) 2,571 39,472 |
31/12/2022 1,510 7,736 32,108 - - 39,844 (450) 39,394 40,904 (1,432) 39,472 40,849 (3,855) (1,517) 1,424 36,901 2,788 (217) 2,571 39,472 |
|---|---|---|---|---|
| 46,058 - |
39,844 (450) |
|||
| 36,901 6,900 (510) 1,432 |
40,849 (3,855) (1,517) 1,424 |
|||
| 40,904 (1,432) |
||||
| 39,472 | ||||
| 36,901 2,571 |
||||
| 2,571 (236) |
2,788 (217) |
|||
| 39,472 |
7
Gower Festival Society CIO
Financial Statements
Year Ended 31 December 2023
4. NOTES TO THE ACCOUNTS
i . Accounting Policies
Tangible Fixed Assets and Depreciation
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost of fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Piano – over 25 years
Grants
Grants relating to tangible fixed assets are treated as deferred income and released over the expected useful lives of the assets concerned. Other grants are credited to the profit and loss account as the related expenditure is incurred.
ii. Tangible Fixed Assets
| iii. | Cost At 31 December 2022 Depreciaton At 31 December 2022 Charge for the period At 31 December 2023 Net Book Value At 31 December 2023 At 31 December 2022 |
Piano 37,917 |
|---|---|---|
| 36,407 510 36,917 1,000 1,51 0 1,432 (1,432) |
||
| Deferred Income At 31 December 2022 Released during the period At 31 December 2023 |
||
| - |
8