## **Charity number: 1205902**
## **FAIREST ISLE FESTIVAL**
## **UNAUDITED FINANCIAL STATEMENTS**
**FOR THE PERIOD ENDED 31 DECEMBER 2024**
1
## **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|
2
## **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
3
## **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.
4
## **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.
5
## **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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