2024-12-31-accounts

Charity number: 1205902

FAIREST ISLE FESTIVAL

UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 31 DECEMBER 2024

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FAIREST ISLE FESTIVAL

CONTENTS

	Page
Administrative details of the Charity, its Trustees and advisers	2
Trustees' report	3 - 4
Independent examiner's report	5
Statement of financial activities	6
Statement of Assets and Liabilities	7
Notes to the financial statements	8 - 10

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FAIREST ISLE FESTIVAL

ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS

FOR THE PERIOD ENDED 31 DECEMBER 2024

Trustees:

M H Scott

A J Sindall FCA

F Sanders

R Street

Registered Charity number:

1205902

Charity Address:

Flat 73, 57 Kingsland High Street, London, E8 2FA

Artistic director:

R Hollingworth

Bankers:

NatWest Plc

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FAIREST ISLE FESTIVAL TRUSTEES REPORT

FOR THE PERIOD ENDED 31 DECEMBER 2024

The Trustees present their report and financial statements of the charity, Fairest Isle Festival (‘the Charity’), for the period from 27 November 2023 to 31 December 2024. The Trustees confirm that the annual report and financial statements of the Charity comply with the requirements of the Charities Act and the requirements of the Charity's governing document.

Constitution

The Charity was established as a CIO on 27 November 2023.

Objectives and activities

a. Policies and Objectives

The objects of the Charity are to:

• Promote the Isle of Wight as a cultural beacon to attract new national and international cultural vistors and to act as a catalyst for prosperity, enhancing its profile and reputation as an island of culture;

• Provide new opportunities for local islanders to access musical experiences and insight into historically-informed early music, whilst enriching the musical landscape of the Isle of Wight; and

• Nuture and develop young creative talent born on the Isle of Wight and increase access to a diversity of music making in schools, through workshops and masterclasses with festival artists.

through the provision of a bi-annual music festival on the Isle of Wight and other associated events.

In setting objectives and planning for activities, the Trustees have given due consideration to general guidance published by the Charity Commission relating to public benefit, including the guidance ‘Public benefit: running a charity (PB2)’

b. Activities undertaken to achieve objectives

The Charity provides financial backing for a bi-annual music festival, Fairest Isle Festival, which takes place on the Isle of Wight. Tickets are subsidised by the charity and are available to the general public. The trustees confirm that they have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing the charity's aims and objectives and in planning future activities.

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Achievements and performance

a. Review of activities

Between Friday 10 and Sunday 12 May 2024, the Charity put on its inaugural festival bringing inspirational music from the 16[th] – 18[th] century to the Isle of Wight, led by artistic director, Robert Hollingworth, who delivered an ambitious programme of the highest quality. This included:

• A four-day vocal workshop for 26 singers;

• A concert of early music by recorder group, Palisander, who also delivered workshops to 434 children at 4 local schools and an informal performance to children and 60 parents;

• A vocal workshop with 200 participants (general public) and informal performance of Vivaldi’s Gloria with the Scandinavian group, Barokksolistene providing the orchestral support. Barroksolistene also provided a Strings Masterclass for 15 students at Osborne House and workshops at 2 schools for 60 children;

• A public Sea Shanty workshop led by Isle of Wight group, Brightstone Barnicles;

• A concert by Barokksolistene of their lively Alehouse Sessions , set in a raucous 17[th] century tavern;

• A performance of Henry Purcell’s Dido and Aeneas ; and

• Tours of the Botanic Gardens at Ventnor, the cultural landmarks of Newport and Ryde, and heritage talks on the history of the island given by the ex IOW County Archaeolgist.

Extensive feedback taken from participants and audience members from the weekend indicated the festival had met its objectives fully.

Further details of the activities of the Charity are available from www.fairestislefestival.com

Financial Review

a. Financial Review

The income for the year from voluntary sources, including donations, sponsorship and subscriptions amounted to £50,692. Income from charitable activities, which includes ticket sales, amounted to £20,686. Total income for the period amounted to £71,378.

Direct festival costs amounted to £48,526. Establishment costs, which are not expected to recur, amounted to £3,956. Other expenditure, including the costs of marketing and fund raising amounted to £16,591.Total expenditure amounted for the period to £69,073.

The overall surplus for the period amounted to £2,305, representing the total funds of the Charity as at 31 December 2024.

b. Going Concern

The Trustees are reliant on attracting grants and donations, together with making ticket sales, to support the Charity’s activities, particularly the bi-annual festival. However, the success of the inaugural festival in May 2024 gives the Trustees confidence that the Charity is a going concern and have prepared the financial statements accordingly.

c. Reserves policy

The Trustees’ policy is to build a level of reserves gradually so as to provide a stable base for its continuing activities.

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FAIREST ISLE FESTIVAL

INDEPENDENT EXAMINER’S REPORT

FOR THE PERIOD ENDED 31 DECEMBER 2024

Independent examiners report to the trustees of Fairest Isle Festival (“the Charity’)

I report to the Trustees on my examination of the accounts of the Charity for the period ended 31st December 2024.

Responsibilities and basis of report

As the Trustees of the Charity you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011(“the 2011 Act”)

I report in respect of my examination of the Charity’s accounts carried out under section 145 of the 2011 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 which gives me cause to believe:

• The accounting records were not kept in accordance with section 130 of the Charities Act; or

• 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.

Signed:

Peter Martin

33 Delphinium Place, Stafford, ST17 4FR

Independent Examiner

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FAIREST ISLE FESTIVAL

STATEMENT OF FINANCIAL ACTIVITIES

FOR THE PERIOD ENDED 31 DECEMBER 2024

Note Unrestricted funds 2024 INCOME FROM: Donations and subscriptions 2 50,692 Charitable Activities 3 20,686 TOTAL INCOME 71,378 EXPENDITURE ON: Festival expenses 4 48,526 IT and support costs 7,227 Branding, marketing and fundraising 5 7,724 Establishment costs 3,956 Other costs 1,640 TOTAL EXPENDITURE 69,073 NET MOVEMENT IN FUNDS 2,305 RECONCILIATION OF FUNDS Total funds brought forward - Net movement in funds 2,305 TOTAL FUNDS CARRIED FORWARD 2,305

Total funds 2024 50,692 20,686 71,378 48,526 7,227 7,724 3,956 1,640 69,073 2,305 - 2,305 2,305

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FAIREST ISLE FESTIVAL

STATEMENT OF ASSETS AND LIABILITIES

AS AT 31 DECEMBER 2024

Cash at bank Unrestricted funds	2024 £ 2,305 2,305

The Trustees acknowledged their responsibilities for complying with the requirements of the Charities Act with respect to accounting records and preparation of financial statements.

The financial statements were approved by the Trustees on 15[th] September 2025 and signed on their behalf by:

M H Scott	A J Sindall
Chairman	Trustee

The notes on pages 8 to 10 form part of these financial statements.

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FAIREST ISLE FESTIVAL

NOTES TO THE FINANCIAL ACTIVITIES

FOR THE PERIOD ENDED 31 DECEMBER 2024

1. Accounting Policy

Basis of preparation of the financial statments

The financial statements have been prepared on a receipts and payments basis. They are presented in sterling and rounded to the nearest pound.

Income tax recoverable in relation to donations received under Gift Aid is recognised when received. All expenditure is inclusive of irrecoverable VAT.

Fairest Isle Festival meets the definition of a public benefit entity under FRS 102.

2. Donations and subscriptions

2. Donations and subscriptions
	Unrestricted funds	Total funds
	2024	2024
Trusts and Foundations	5,750	5,750
Memberships and Donations	36,170	36,170
Gift Aid recoverable	8,772	8,772
Total donations and subscriptions	50,692	50,692

3. Charitable activities

3. Charitable activities
	Unrestricted funds	Total funds
	2024	2024
Festival ticket sales	10,746	10,746
FIF singers	9,940	9,940
Total charitable activities	20,686	20,686

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4. Festival expenses

4. Festival expenses
	Unrestricted funds	Total funds
	2024	2024
Artists fees	24,990	24,990
Musical Director	5,000	5,000
Venue hire	2,238	2,238
Production costs and instrument hire	2,115	2,115
FIF singers package	2,393	2,393
Travel, accommodation and subscriptions	11,790	11,790
Total festival expenses	48,526	48,526

5. Branding, marketing and fundraising

Unrestricted Branding, design and printing PR and marketing Fundraising and development Total Branding, marketing and fundraising	funds Total 2024 4,374 1,835 1,515 7,724	funds 2024 4,374 1,835 1,515 7,724

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