**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: - a) promote, organise and hold an annual Festival; - b) encourage and promote concerts, recitals and other events; - c) undertake fund-raising activities to attract donations (but not to engage in any form of permanent trading); - 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: - 1 accounting records were not kept in respect of the charity as required by section 130 of the Act; or - 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