2024-03-31-accounts

Charity registration number 213125

Company registration number 00177744 (England and Wales)

THE BRITISH AND INTERNATIONAL FEDERATION OF FESTIVALS FOR MUSIC, DANCE AND SPEECH

ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

THE BRITISH AND INTERNATIONAL FEDERATION OF FESTIVALS FOR MUSIC, DANCE AND SPEECH

LEGAL AND ADMINISTRATIVE INFORMATION

Trustees

Deborah Kate Ward (Chair) Priscilla Louise Morris (Vice Chair) John Logan (Honorary Treasurer) Yvonne Baisden

Christopher Philip Blurton (Vice Chair) (Appointed 12 May 2023) Annette Brown (Appointed 8 May 2024) Clara Angela Iris Lane Robert MacDonald Fiona McLean-Buechel

(Appointed 4 September 2024)

Jill Elisabeth Wright

Senior management

Claire Lloyd

General Manager

Charity number 213125 Company number 00177744

Registered office

Festivals House 198 Park Lane Macclesfield Cheshire SK11 6UD

Independent examiner

V J Atkinson BK Plus Limited 52 St Johns Lane Halifax West Yorkshire HX1 2BW

Website

www.federationoffestivals.org.uk

Investment advisors

Brewin Dolphin 12 Smithfield Street London ED1A 9BD

THE BRITISH AND INTERNATIONAL FEDERATION OF FESTIVALS FOR MUSIC, DANCE AND SPEECH

CONTENTS

	Page
Trustees' report	1 - 5
Independent examiner's report	7
Statement of financial activities	8 - 9
Balance sheet	10 - 11
Statement of cash flows
Notes to the financial statements	12 - 22

THE BRITISH AND INTERNATIONAL FEDERATION OF FESTIVALS FOR MUSIC, DANCE AND SPEECH

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT AND STRATEGIC REPORT) FOR THE YEAR ENDED 31 MARCH 2024

The trustees present their annual report and financial statements for the year ended 31 March 2024.

The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's [governing document], the Companies Act 2006 and "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)" (effective 1 January 2019).

Objectives and activities

Objectives

The objectives of The British and International Federation of Festivals for Music, Dance and Speech (‘BIFF’) are to advance, promote and encourage participation in all branches of performing arts.

The benefits to individuals and communities of participation in performing arts are widely recognised. Participation hones and develops life skills, quite apart from developing skills in the performance art itself. For many people, a performance offers a real sense of achievement which may not be equalled in their experience of other activities. In earlier years, participation in performing arts is a key component of a balanced education.

Principle activities

The principle activity of BIFF is as key support organisation for those involved in festivals featuring amateur performers. It provides a wide range of services and resources to facilitate delivery of fulfilling, inspiring and educational performance opportunities for everyone. The services and resources on offer continually evolve and develop to reflect current best practice and to meet ever changing needs and expectations.

Festivals play an important role in keeping alive local interest in the arts. They strengthen and support community activities by providing a meeting place for amateur artists of all ages. They encourage cooperation among various artforms for the common purpose of achieving higher standards of performance. While the practice of an artform may remain a source of valuable recreation for many performers, every professional began as an amateur. Many distinguished artists acknowledge that their first performance platform was provided by their local festival.

Public benefit

The trustees have complied with their duty to have due regard to the guidance on public benefit, published by the Commission, in exercising their powers or duties. The trustees consider how planned activities will contribute to BIFF’s aims and objectives.

Strategic report

The description under the headings "Achievements and performance" and "Financial review" meet the company law requirements for the trustees to present a strategic report.

• 1 -

THE BRITISH AND INTERNATIONAL FEDERATION OF FESTIVALS FOR MUSIC, DANCE AND SPEECH

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT AND STRATEGIC REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

Achievements and performance

BIFF engages in wide-ranging activities to support festivals, to help them to develop and grow, and to promote implementations of best practice in many important areas. In addition to festivals, BIFF has adjudicators, accompanists and supporters among its members. It actively encourages new members in all its membership categories.

For those starting a festival, or who are new to organising an established one, BIFF offers members extensive resource materials and guidance covering almost every aspect of festival organisation. New festivals join each year and BIFF provides information on its website about becoming a member.

Many member festivals work with children and some also work with vulnerable adults. BIFF has developed extensive guidance on safeguarding and has prepared materials that festivals may use when formulating, implementing and communicating safeguarding policies.

BIFF recognises the importance of professional adjudicators and accompanists to festivals. Skilled adjudicators inspire and educate performers and audience alike. Each performer should leave a festival with some useful advice for further development and a real sense of achievement. BIFF encourages all adjudicator members to attend annual conference and on-line meetings where new skills, approaches and ideas are explored.

The small staff team at Festivals House provides year-round support for members. Improved facilities allow the staff to adopt more modern working practices, working from home as well as from the office.

BIFF supports a UK-wide network of ‘Regional Forums’. These meetings, which are open to all Federation members, are usually held twice a year and are facilitated by voluntary forum officers. Members share experience and practice, and additional meetings may be held to give further time to individual matters of interest and importance to forum members. Members of Federation staff attend a number of these meetings to talk about areas of concern and development, and as an opportunity to meet members. The rolling programme of visits to festivals in each region undertaken by forum officers has resumed.

The 2023 BIFF annual conference returned to its usual format – a live, in-person event – and was held at the Warwick University Conference Centre from 6th to the 8th of October. It comprised a series of presentations and discussions which were topical, relevant and of interest to festival members and adjudicators. The keynote speaker was Stuart Murphy, outgoing Chief Executive Officer at the English National Opera. In his inspiring address, Stuart spoke of his experience within broadcasting and the importance of the arts in society.

In addition to attending conference sessions, attendees had many opportunities to meet and establish contact with fellow members and to share and exchange ideas and experiences.

At conference, there was an in-depth introduction to the new mark scheme which has now launched after significant input from the Adjudicators’ Council and the Board of Trustees. The trustees wish to thank all of those involved in the creation of the new mark scheme for their hard work and efforts in bringing about this momentous piece of work. The trustees would also like to thank all those festivals who took part in the trials as well as everyone who offered feedback.

The transition from outgoing to incoming Chair of the Board of Trustees took place at conference. There is a huge amount of appreciation and respect for Steven Roberts’ work and efforts not only among the board of trustees but also within the wider membership. Incoming Chair Deborah Ward picked up the mantle from Steven and has the full support of her trustee colleagues.

The trustees acknowledge the valuable work undertaken by the Festivals House team, past and present, and the tireless efforts of members and volunteers throughout the Festival movement to ensure that many thousands of amateur performers will continue to have the opportunity to take part and to benefit from professional adjudication. The trustees will continue to work to deliver and enhance services to the membership and to fulfil the vision and aims of BIFF.

• 2 -

THE BRITISH AND INTERNATIONAL FEDERATION OF FESTIVALS FOR MUSIC, DANCE AND SPEECH

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT AND STRATEGIC REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

Financial review

2023/2024 has been a challenging year for BIFF. Whilst there has been a moderate increase in income this has been outstripped by above inflation increase in costs, most of which being outside our control; resulting in an operating loss (before investment gains) of £15,681.

Investments at year end show an improvement on the previous year, and income from investments has increased.

The decision has been taken to sell Festivals House, which, in due course, will have the dual benefit of providing much needed additional funds and reducing overheads. In the interim the directors, in conjunction with staff, will strive to redress the imbalance between income and expenditure.

Reserves policy

The trustees currently maintain a reserves policy set at £150,000, which equates to approximately 12 months expenditure. A surplus of funds is held in investments, which the Board considers necessary to generate a return on investment to support working capital, and to protect against any consequence that could threaten the continuity of the charity's work.

Excluding tangible fixed assets the value of unrestricted funds at year end was £273,610

Structure, governance and management

Company and charity information

The British and International Federation of Festivals for Music, Dance and Speech ('BIFF') is a private company, limited by guarantee, and registered in England and Wales, number 00177744. Its registered office, which is also its principal office, is Festivals House, 198 Park Lane, Macclesfield, SK11 6UD. It is registered as a charity with the Charity Commission, charity number 213125.

Governing document

BIFF is governed by its Memorandum and Articles of Association which were last amended on 5 October 2014. The company was formed in 1921.

Recruitment and appointment of trustees

Trustees are elected by members of BIFF and may be proposed by members or identified by serving Trustees. A skills analysis of trustees is conducted and where a shortfall is identified a recruitment plan is devised to address it. All trustees, including those elected honorary officers (chair, vice chair and honorary treasurer), retire at the Annual General Meeting following the third year of their appointment. A trustee who is not elected an honorary officer may serve continuously for a maximum of nine years. In normal circumstances, an honorary officer may serve continuously for a maximum of nine years from the date of first election to the honorary office.

Risk management

The trustees have a duty to identify and review the risks to which BIFF is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error.

The risk management strategy is managed by the Board of Trustees and comprises an annual review of the risks the organisation may face; the establishment of systems and procedures to mitigate those risks; and the implementation of procedures designed to minimise any potential impact on the organisation.

The Board of Trustees maintains a risk register, which is reviewed annually. Insurance covers the major financial risks and is reviewed annually. Systems of internal control are designed to provide reasonable, but not absolute, assurance against material mis-statement or loss. The controls are:

• Regular consideration of financial results in comparison to budgets

• Regular review of non-financial performance indicators

• Appropriate levels of delegation of authority to staff and segregation of duties

• Identification and management of risks across a wide range of headings

• Safety and fire risk assessments meeting legislative requirements

• 3 -

THE BRITISH AND INTERNATIONAL FEDERATION OF FESTIVALS FOR MUSIC, DANCE AND SPEECH

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT AND STRATEGIC REPORT) (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2024

• 4 -

THE BRITISH AND INTERNATIONAL FEDERATION OF FESTIVALS FOR MUSIC, DANCE AND SPEECH

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT AND STRATEGIC REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

Trustees

Deborah Kate Ward (Chair) Priscilla Louise Morris (Vice Chair) John Logan (Honorary Treasurer) Yvonne Baisden Christopher Philip Blurton (Vice Chair) (Appointed 12 May 2023) Annette Brown (Appointed 8 May 2024) Clara Angela Iris Lane Keith Ronald Lowe (Resigned 6 October 2023) Robert MacDonald Fiona McLean-Buechel (Appointed 4 September 2024) Steven Roberts (Resigned 6 October 2023) Jill Elisabeth Wright

Approved by order of the board of trustees and signed on its behalf by:

Deborah Kate Ward (Chair) Trustee

3 December 2024

• 5 -

THE BRITISH AND INTERNATIONAL FEDERATION OF FESTIVALS FOR MUSIC, DANCE AND SPEECH

STATEMENT OF TRUSTEES' RESPONSIBILITIES

FOR THE YEAR ENDED 31 MARCH 2024

The trustees, who are also the directors of The British and International Federation of Festivals for Music, Dance and Speech for the purpose of company law, are responsible for preparing the Trustees' Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company Law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that year.

In preparing these financial statements, the trustees are required to:

• select suitable accounting policies and then apply them consistently;

• observe the methods and principles in the Charities SORP;

• make judgements and estimates that are reasonable and prudent; and

• prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.

The trustees are responsible for keeping adequate 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 Companies Act 2006. 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.

• 6 -

THE BRITISH AND INTERNATIONAL FEDERATION OF FESTIVALS FOR MUSIC, DANCE AND SPEECH

INDEPENDENT EXAMINER'S REPORT

TO THE TRUSTEES OF THE BRITISH AND INTERNATIONAL FEDERATION OF FESTIVALS FOR MUSIC, DANCE AND SPEECH

I report to the trustees on my examination of the financial statements of The British and International Federation of Festivals for Music, Dance and Speech (the charity) for the year ended 31 March 2024.

Responsibilities and basis of report

As the trustees of the charity (and also its directors for the purposes of company law) you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006 (the 2006 Act).

Having satisfied myself that the financial statements of the charity are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of the charity’s financial statements carried out under section 145 of the Charities Act 2011 (the 2011 Act). In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.

Independent examiner's statement

I have completed my examination. I confirm that no 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 386 of the 2006 Act; or

• 2 the financial statements do not accord with those records; or

• 3 the financial statements do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination; or

• 4 the financial statements have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).

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 financial statements to be reached.

V J Atkinson

BK Plus Limited 52 St Johns Lane Halifax West Yorkshire HX1 2BW

Dated: 3 December 2024

• 7 -

THE BRITISH AND INTERNATIONAL FEDERATION OF FESTIVALS FOR MUSIC, DANCE AND SPEECH

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 31 MARCH 2024

Unrestricted Restricted funds funds 2024 2024 Notes £ £ Income from: Donations and legacies 3 10,668 - Charitable activities Copyright and Insurance 4 54,453 - Members Subscriptions 4 75,565 - Other trading activities 4 30,820 - Investments 5 7,243 - Total income 178,749 - Expenditure on: Raising funds 6 43,095 - Charitable activities Copyright, Insurance and DBS 7 57,650 - Members Services 7 79,690 1,596 Members Support and Administration 7 10,121 - Governance 7 2,278 - Total charitable expenditure 149,739 1,596 Total expenditure 192,834 1,596 Net gains/(losses) on investments 11 13,388 - Net expenditure (697) (1,596) Other recognised gains and losses: Revaluation of tangible fixed assets - - Net movement in funds 8 (697) (1,596) Reconciliation of funds: Fund balances at 1 April 2023 434,098 5,350

Total Unrestricted Restricted Total funds funds 2024 2023 2023 2023 £ £ £ £ 10,668 7,991 - 7,991 - 54,453 43,570 - 43,570 75,565 71,704 - 71,704 30,820 34,701 - 34,701 7,243 6,414 - 6,414 178,749 164,380 - 164,380 43,095 41,710 - 41,710 57,650 43,717 - 43,717 81,286 71,848 100 71,948 10,121 10,014 - 10,014 2,278 2,156 - 2,156 151,335 127,735 100 127,835 194,430 169,445 100 169,545 13,388 (18,630) - (18,630) (2,293) (23,695) (100) (23,795) - (152,500) - (152,500) (2,293) (176,195) (100) (176,295) 439,448 610,293 5,450 615,743

• 8 -

THE BRITISH AND INTERNATIONAL FEDERATION OF FESTIVALS FOR MUSIC, DANCE AND SPEECH

STATEMENT OF FINANCIAL ACTIVITIES (CONTINUED) INCLUDING INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 31 MARCH 2024

Fund balances at	31	March
2024			433,401	3,754	437,155	434,098	5,350	439,448

The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.

• 9 -

THE BRITISH AND INTERNATIONAL FEDERATION OF FESTIVALS FOR MUSIC, DANCE AND SPEECH

BALANCE SHEET

AS AT 31 MARCH 2024

Notes Fixed assets Tangible assets 13 Investments 14 Current assets Stocks 15 Debtors 16 Cash at bank and in hand Creditors: amounts falling due within one year 18 Net current assets Total assets less current liabilities Creditors: amounts falling due after more than one year 20 Net assets excluding pension liability Net assets The funds of the charity Restricted income funds 21 Unrestricted funds	2024 £ 400 46,693 21,282 68,375 (14,991)	£ 159,791 234,130 393,921 53,384 447,305 (10,150) 437,155 437,155 3,754 433,401 437,155	2023 £ 173 42,379 36,745 79,297 (13,204)	£ 162,139 222,909 385,048 66,093 451,141 (11,693) 439,448 439,448 5,350 434,098 439,448

The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 31 March 2024.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

• 10 -

THE BRITISH AND INTERNATIONAL FEDERATION OF FESTIVALS FOR MUSIC, DANCE AND SPEECH

BALANCE SHEET (CONTINUED)

AS AT 31 MARCH 2024

The financial statements were approved by the trustees on 25 November 2024

John Logan (Honorary Treasurer) Trustee

Company registration number 00177744 (England and Wales)

• 11 -

THE BRITISH AND INTERNATIONAL FEDERATION OF FESTIVALS FOR MUSIC, DANCE AND SPEECH

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

1 Accounting policies

Charity information

The British and International Federation of Festivals for Music, Dance and Speech is a private company limited by guarantee incorporated in England and Wales. The registered office is Festivals House, 198 Park Lane, Macclesfield, Cheshire, SK11 6UD.

1.1 Accounting convention

The financial statements have been prepared in accordance with the charity's [governing document], the Companies Act 2006, FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the Charities SORP "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)" (effective 1 January 2019). The charity is a Public Benefit Entity as defined by FRS 102.

The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.

1.2 Going concern

At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3 Charitable funds

Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.

Restricted funds are subject to specific conditions by donors or grantors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.

Endowment funds are subject to specific conditions by donors that the capital must be maintained by the charity.

1.4 Income

Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.

Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.

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THE BRITISH AND INTERNATIONAL FEDERATION OF FESTIVALS FOR MUSIC, DANCE AND SPEECH

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

1 Accounting policies

(Continued)

1.5 Expenditure

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement, and the amount of the obligation can be measured reliably.

Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset’s use.

1.6 Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Freehold land and buildings 1% on revaluation Fixtures and fittings 25% on reducing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities.

1.7 Fixed asset investments

Fixed asset investments are initially measured at transaction price excluding transaction costs, and are subsequently measured at fair value at each reporting date. Changes in fair value are recognised in net income/(expenditure) for the year. Transaction costs are expensed as incurred.

1.8 Impairment of fixed assets

At each reporting end date, the charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

1.9 Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition. Items held for distribution at no or nominal consideration are measured the lower of replacement cost and cost.

Net realisable value is the estimated selling price less all estimated costs of completion and costs to be incurred in marketing, selling and distribution.

1.10 Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

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THE BRITISH AND INTERNATIONAL FEDERATION OF FESTIVALS FOR MUSIC, DANCE AND SPEECH

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

1 Accounting policies

(Continued)

1.11 Financial instruments

The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities

Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Derecognition of financial liabilities

Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.

1.12 Employee benefits

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.13 Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

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THE BRITISH AND INTERNATIONAL FEDERATION OF FESTIVALS FOR MUSIC, DANCE AND SPEECH

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

2 Critical accounting estimates and judgements

In the application of the charity’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3 Income from donations and legacies

		Unrestricted	Unrestricted
		funds	funds
		2024	2023
		£	£
	Donations and gifts	10,668	7,991
4	Income from charitable activities
		Unrestricted	Unrestricted
		funds	funds
		2024	2023
		£	£
	Copyright and Insurance
	Copyright and insurance	54,453	43,570
	Members Subscriptions
	Members Subscriptions	75,565	71,704
	Other trading activities
	Conference	29,385	32,467
	Members services and other	1,435	2,234
		160,838	149,975
5	Income from investments
		Unrestricted	Unrestricted
		funds	funds
		2024	2023
		£	£
	Interest receivable	7,243	6,414

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THE BRITISH AND INTERNATIONAL FEDERATION OF FESTIVALS FOR MUSIC, DANCE AND SPEECH

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

6 Expenditure on raising funds

	Unrestricted	Unrestricted
	funds	funds
	2024	2023
	£	£
Fundraising and publicity
Travel and other costs	3,169	2,986
Conference costs	35,781	34,310
Centenary costs	4,025	4,289
Sales and Marketing/Profile Raising	120	125
	43,095	41,710

7 Expenditure on charitable activities

Copyright, Insurance and DBS Members Services Members Support and Administrati on Governance 2024 2024 2024 2024 £ £ £ £ Direct costs Staff costs 18,864 66,977 8,490 - Depreciation and impairment 955 1,322 168 - Office costs (1,826) - - - Copyright cover and insurance 30,230 - - - Adjudicators costs 1,095 - - - 49,318 68,299 8,658 - Share of support and governance costs (see note ) Support 8,332 12,987 1,463 - Governance - - - 2,278 57,650 81,286 10,121 2,278 Analysis by fund Unrestricted funds 57,650 79,690 10,121 2,278 Restricted funds - 1,596 - - 57,650 81,286 10,121 2,278	Total 2024 £ 94,331 2,445 (1,826) 30,230 1,095
	126,275 22,782 2,278
	151,335
	149,739 1,596
	151,335

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THE BRITISH AND INTERNATIONAL FEDERATION OF FESTIVALS FOR MUSIC, DANCE AND SPEECH

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

7	Expenditure on charitable activities								(Continued)
	Previous year:	Copyright,	Members		Members		Governance		Total
		Insurance	Services		Support and
		and DBS			Administrati
						on
		2023		2023		2023	2023		2023
		£		£		£		£	£
	Direct costs
	Staff costs	17,209	61,092			7,744		-	86,045
	Depreciation and impairment	2,675		-		-		-	2,675
	Copyright cover and insurance	17,840		997		897		-	19,734
		37,724	62,089			8,641		-	108,454
	Share of support and governance costs (see note )
	Support	5,993		9,859		1,373		-	17,225
	Governance	-		-		-	2,156		2,156
		43,717	71,948		10,014		2,156		127,835
	Analysis by fund
	Unrestricted funds	43,717	71,848		10,014		2,156		127,735
	Restricted funds	-		100		-		-	100
		43,717	71,948		10,014		2,156		127,835
8	Net movement in funds						2024		2023
							£		£
	The net movement in funds is stated after charging/(crediting):
	Depreciation of owned tangible fixed assets						2,444		2,675
	Depreciation of tangibles: Total SOFA charge differs		from	BS notes by:			(1)		-

9 Trustees

There was a total of £1058 of expenses paid to trustees during the financial year, £928 was reimbursed for traveling expenses (2023 - NIL) and £130 (2023 - NIL) related to other expenses incurred.

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THE BRITISH AND INTERNATIONAL FEDERATION OF FESTIVALS FOR MUSIC, DANCE AND SPEECH

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

10 Employees

The average monthly number of employees during the year was:

	2024	2023
	Number	Number
General manager	1	1
Administrative and support	3	4
Total	4	5
Employment costs	2024	2023
	£	£
Wages and salaries	89,649	83,401
Social security costs	2,703	1,038
Other pension costs	1,979	1,606
	94,331	86,045

There were no employees whose annual remuneration was more than £60,000.

Remuneration of key management personnel
The remuneration of key management personnel was as follows:
	2024	2023
	£	£
Aggregate compensation	43,369	39,806

The key management personnel of the charity have been identified as the general manager. The remuneration of the key management is set and reviewed annually by the trustee board.

11 Gains and losses on investments

	Unrestricted	Unrestricted
	funds	funds
	2024	2023
Gains/(losses) arising on:	£	£
Revaluation of investments	11,189	(11,387)
Sale of investments	2,199	(7,243)
	13,388	(18,630)

12 Taxation

The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.

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THE BRITISH AND INTERNATIONAL FEDERATION OF FESTIVALS FOR MUSIC, DANCE AND SPEECH

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

13 Tangible fixed assets

Freehold land and buildings Fixtures and fittings £ £ Cost At 1 April 2023 160,000 66,665 Additions - 96 At 31 March 2024 160,000 66,761 Depreciation and impairment At 1 April 2023 1,600 62,926 Depreciation charged in the year 1,600 844 At 31 March 2024 3,200 63,770 Carrying amount At 31 March 2024 156,800 2,991 At 31 March 2023 158,400 3,739	Total £ 226,665 96
	226,761
	64,526 2,444
	66,970
	159,791
	162,139

14 Fixed asset investments

			Brewin
			Dolphin
			Investment
			Fund
			£
	Cost or valuation
	At 1 April 2023		222,909
	Additions		68,085
	Valuation changes		13,388
	Management fees		(2,117)
	Movement in cash		(5,508)
	Disposals		(62,627)
	At 31 March 2024		234,130
	Carrying amount
	At 31 March 2024		234,130
	At 31 March 2023		222,909
15	Stocks
		2024	2023
		£	£
	Finished goods and goods for resale	400	173

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THE BRITISH AND INTERNATIONAL FEDERATION OF FESTIVALS FOR MUSIC, DANCE AND SPEECH

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

16 Debtors Amounts falling due within one year: Prepayments and accrued income 17 Loans and overdrafts Bank loans Payable within one year Payable after one year 18 Creditors: amounts falling due within one year Notes Bank loans 17 Other taxation and social security Trade creditors Other creditors Accruals and deferred income	2024 £ 46,693 2024 £ 12,013 1,863 10,150 2024 £ 1,863 1,944 2,251 252 8,681 14,991	2023 £ 42,379
		2023 £ 13,556
		1,863 11,693
		2023 £ 1,863 2,417 1,620 32 7,272
		13,204

19 Secured Debts

A bank overdraft facility is secured via a fixed legal charge, dated 19 March 2010, over the charity property at 198 Park Lane, held by Royal Bank of Scotland.

During the year ended 31 March 2024, and the prior year, the facility has not been utilised.

20 Creditors: amounts falling due after more than one year

		2024	2023
	Notes	£	£
Bank loans	17	10,150	11,693

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THE BRITISH AND INTERNATIONAL FEDERATION OF FESTIVALS FOR MUSIC, DANCE AND SPEECH

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

21 Restricted funds

The restricted funds of the charity comprise the unexpended balances of donations and grants held on trust subject to specific conditions by donors as to how they may be used.

	At 1 April	Resources	At 31 March
	2023	expended	2024
	£	£	£
	-	(50)	(50)
S Harrison Fund	50	-	50
Margaret Lane Award	3,300	(50)	3,250
West London Pianoforte Festival	2,000	(1,496)	504
	5,350	(1,596)	3,754
Previous year:	At 1 April	Resources	At 31 March
	2022	expended	2023
	£	£	£
S Harrison Fund	50	-	50
Margaret Lane Award	3,400	(100)	3,300
West London Pianoforte Festival	2,000	-	2,000
	5,450	(100)	5,350

22 Unrestricted funds

The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.

	At 1 April	Incoming	Resources	Gains and	At 31 March
	2023	resources	expended	losses	2024
	£	£	£	£	£
General funds	434,098	178,749	(192,834)	13,388	433,401
Previous year:	At 1 April	Incoming	Resources	Gains and	At 31 March
	2022	resources	expended	losses	2023
	£	£	£	£	£
General funds	610,293	164,380	(169,445)	(171,130)	434,098

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THE BRITISH AND INTERNATIONAL FEDERATION OF FESTIVALS FOR MUSIC, DANCE AND SPEECH

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

23 Analysis of net assets between funds

Unrestricted Restricted funds funds 2024 2024 £ £ At 31 March 2024: Tangible assets 159,791 - Investments 234,130 - Current assets/(liabilities) 49,484 3,900 Long term liabilities (10,150) - 433,255 3,900 Per balance sheet 433,401 3,754 Balance to allocate 146 (146) Unrestricted Restricted funds funds 2023 2023 £ £ At 31 March 2023: Tangible assets 162,139 - Investments 222,909 - Current assets/(liabilities) 60,743 5,350 Long term liabilities (11,693) - 434,098 5,350	Total 2024 £ 159,791 234,130 53,384 (10,150)
	437,155
	437,155 - Total 2023 £ 162,139 222,909 66,093 (11,693)
	439,448

24 Operating lease commitments

Lessee

At the reporting end date the charity had outstanding commitments for future minimum lease payments under non-cancellable operating leases, which fall due as follows:

Within one year Between two and five years	2024 £ 696 348 1,044	2023 £ - -
		-

25 Related party transactions

There were no disclosable related party transactions during the year (2023 - none).

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