Charity reglstration number 213125 (England and Wales) Company registration number 00177744 THE BRITISH AND INTERNATIONAL FEDERATION OF FESTIVALS FOR MUSIC, DANCE AND SPEECH ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
THE BRITISH AND INTERNATIONAL FEDERATION OF FESTIVALS FOR MUSIC, DANCE AND SPEECH LEGAL AND ADMINISTRATIVE INFORMATION Trustees Deborah Kale Ward (Chair) Priscilla Louise Morris (Wice Chair- Stepped down 17109120251 John Logan (Honorary Treasurer) Yvonne Balsden Christopher Philip Blurton {Wice Chair) Annelle Brown Fiona McLean-Buechel (Vice Chalr from 17109120251 Jlll Elisabelh Wrighl Neill Oldham Verily Leah Willlams (Appointed 8 May 2024) (Appointed 4 Soplember 2024) {Appoinled 22 May 2025) (Appoinled 22 May 20251 Senlor management Claire Lloyd General hAanager Charlty number 213125 Company number 00177744 Reglstered offlcè Festivals Hous8 198 Park Lane Macclesfield Cheshire SK116UD Independant examiner V J Alkinson BK Plus Limited 52 Sl Johns Lane Halifax Wesl Yorkshire HX12BW Webslte •M.federalionoffeslivals.org.uk Investment advlsors RBC Brewin Dolphin 12 Smithfield Slreet London EC1A 9BD
THE BRITISH AND INTERNATIONAL FEDERATION OF FESTIVALS FOR MUSIC, DANCE AND SPEECH CONTENTS Page Trustees, report Statement of trustees. responsibilities Independ8nt examinees report Slalemenl of financi81 activities Balancé sheet 9-10 Notes to the financial slatements
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 2025 Th8 Irusleos present their annual report and financial statements for the year ended 31 March 2025. The financial statements have been prepared in accordance with the accounting policies Sel out in note 1 to the linancial statements and comply with the charills governing document, the Companies Act 2006, FRS 102 "The Financlal Reporting Standard applicable in the UK and Republic of Ireland. and Ihe Charities SORP "Accounting and Reporting by Charities-. Slalement of Recommended Practtce applicable lo charities preparing their accounts in accordance with the Financial Reporting Standard applicable in Ihe UK and Republic of Ireland (FRS 102)" Objectlves and activltles The objectives of The British and International Fed8ralion of Festivals for Music, Dance and Speech I'BIFF,) are lo advance, promote and encourage participalion in all branches of the performing arts. The benefits to individLJals and communilies of participation in performing arls are widely recognised and occepled. Particlpallon hones and slrenglhens life skills, quite apart from developing those 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, From a young age, particlpalion in performing arts shotsld be a key component of a balanced education. Prlnelple activities The prinelple acllvity of BIFF is as a key support organisalion for those involved in fesllvals featuring amateur performers. It provides a wide range ol services and resources lo facililale dellvery of fulfilling, inspirlng and educational p8rform8nce opportunities for everyone. The services and resources on offer continually evolv8 and develop lo reflect current best practice and lo meet ever changing needs and expectations. Festivals play an important role in keeping alive local interesl in Ihe arts. They strengthen and support community activities by providing a meeting place for amateur artists of all ages. They encourage cooperation among various arl forms for the common purpose of achieving higher slandards of perfomiance. Many distingulshed artlsts acknowledge that Ihelr first performance platform was provided by their local festival. Public benefit The trustees have complied with their duly lo have due regard lo the guidance on public benefit, published by the Commission. in exercising their powers or duties. The trustees consider how planned activities will ¢onlribule lo BIFF'S aims and objectives. Strateglc report The description under the headings "Achievemenls and performance" and "Financial review" meet Ihe company law requiiemenls for the Iruslees lo present a strategic report. Achlevements and performance BIFF'S role in providing a platform for performance has become ever more necessary In the current climate of cutbacks in all the performing arts, bolh in education and elsewhere. To Ihat end. the Trustees have begun a reslrucluring of ltte activities of tha Board to provide more professional support for Feslivals and Adjudicalors. Because of the increasing dlverslly of their WOTk, the decision was taken to appoint a second Vice Chair. Qfficers of the Board now include a Chair, two Vice Chairs and a Treasurer and they and the Trustees are very well supported by the staff al Feslivals House. A very welcome appointment lo the board in May was Annelle Brown, CEO of the Wollongong Conservalorium of Music. Annette brings a welcome breadth of knowledge to the board and strengthens our international experience and expertise. As part of our determination lo continue to develop a more professional and appropriate structure, we have looked to appoint Patrons who can advocate on behalf of BIFF. We are delighted that both the Kanneh-mason family and Anna Jayne Casey have agreed to act In this role and we look lorward lo working with them.
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 2025 There are CUTTently Iwo main sub.committees who report to the board. The Adjudicators. Council is made up of three discipline specific groups and is chaired in lurn by a represenlalive from each disciplin8. Work has continued on the process of appointing new adjudicators and also providlng CPD as a means of ensuring the maintenance of high standards in adjudication. The Festivals, Council is made up of regional representatives and is chaired by one of those represenlatives. Their meetings provide a useful forum to promote best practice in the wnning of fesliv815 and much valuable work Is done as reglonal reps visit festivals in action, both to support and act as a channel of communication. In addltion lo these Iwo main 5ub-commitlees. the board has agreed lo set up a Youth Board and work on this project is currently In progress. There are plans also lo sel up project specific and lime limited 'lhlnk tanks" as and when the need arises. these will be populated by indlviduals with the appropriate skills and experience for the task in hand. As a part of the conlinuing drive lo provide up-lo-dale and professional support lo our mernbers. the board agreed lo appoint a Membership Officer. Their role will be lo look at th8 current mernbership struclure and the benefits of membership for fe51ivals, 2djudicalors, accompanists and friends. AlongsSde Ihls element will be responsibility for marketing, PR and the general promollon of 81FF. supporting and co-ordinaling tha work done by so m8ny volunteers. The annual Conference was held in September al thè University of WaiCk Conference Cenlre. This was a great opporlunlly for Festival and Adjudicator members to exchange experiences and ideas for good practice. Members were able lo lake part in sessions on marketing, the use of social media and fundraising and we had pracllcal 8xperience of the benefits of partnership. Kawai was Ihe official sponsor. providing a baby grand piano for our use over the Conference. In addition, every delegate received a Kawal notebook and pen. We were able lo share experiences across the disciplines ol the new Marking Scheme which was adopled in April and we ware reminded of the Smportance of ensuring equality, diversity and incluslon in all our evenls. We were delighted lo welcome two exceptional young musiclans, Braimah Kanneh-mason and Winnie Su, who spoke eloquently about their different experlences of musical education, including feslivals, in the UK and Australia and of their hopes for the fulure. Festivals House has become an increasing drain on the Federalion's finances. Patlerns of work developed by staff mean that Ihe building is used much less, with staff working from home and having one "crossover" day during the week. The decision ha5 been made lo sell the building and lo find suitable olfice space to rent In Macclesfield. Due care and attention Ss being given lo the care of Ihe archive of the Federatlon. The board Is hugely grateful to the leam al Festivals House, who enable and adminislrale our work. For part of lh6 year, they have been under-staffed bul Ihey have as always been at the end of Ihe phone or a computer terminal lo answer the myriad questions which come their way. We 81so acknowledge the tireless work pul in by Feslival members and supporters in providing a platform for the performance of life-enhancing art in all ils forms. The Iruslees will continue working lo strengthen and improve the seNices which fulfil the aims of the Brillsh and International Federation of Festivals. Financial review The financial statements for the year ended 31 March 2025 rellecl a year of on-going sector-wide pressures. Income for the year was marginally less compared to 2024, primarlly due lo reduced conference Income 811ied wilh a similar reduction in conference costs. The Charity's overall expendilure conlinues lo oulslrip lolal income-, mainly due lo a notable increase in member seNices and admin costs. The combination of lower investment gains and higher expenses have resulted in nel worth being reduced by £21.446. Investment performance remained modest, prompling the board to undertake a review of strategy lo ensure alignment wilh risk appelite and financial goals.
THE BRITISH AND INTERNATIONAL FEDERATION OF FESTIVALS FOR MUSIC, DANCEAND SPEECH TRUSTEES, REPORT (INCLUDING DIRECTORS. REPORT AND STRATEGIC REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 R8sewes policy The Iruslees consider reseNes equivalent lo 6-12 months of overheads lo be necessary, and the sum £150,000 is judged appropriate to hold Sn reserve lo cover cash flow requirements and a contingency agalnst unforeseen expenditure or income shortfalls. The charities primary liquld asset is the sum of £236,176 held in inveslmenls, and excludlng tangible fixed assets Ihe value of unreslricled funds is £254,433. Post Balance Sheet Event Following the decision to s611 Festivals House and in compliance with Section 11g of the Charities Act 2011, the Iruslees obtained a wrillen report lo assess the viability of the sale, and determine a market value prior to sale. The inspe¢lion was undertaken by an Associate of the RICS as required by the slalule. The r6POrt indic8ted the property was capable of refurbishment and conversion lo resid8nlial occupancy. Subject lo planning and necessary consents, the recommended valuation of the property was estimated al £290,000. This is slgnificanlly greater than the balan sheet valuation- however. following discussions with a local eslale agency, there remains a degree of doubl on the likelihood of achieving this sum. 11 has been decided lo market Feslivals House al a sale price of £260,000. The sale process will be closely monitored and. if no significant inleresl shown, consideration will be given to listing the property at public auction. Structure, governance and management Company and charity information Th8 British and International Federation of Festivals for Music, Dance and Speech I'BIFF,) is a private company, limiled by guarantee, and registered in England and Wales, number 00177744. Ils registered office, which is also its principal office, is Festivals House, 198 Park Lane, Macclesfield, SK11 6UD. 11 is registered as a charily with the Charity Commission, charity number 213125. Goveming documenl BIFF is governed by ils Memorandum and Articles ofAssocialion which were last amended on 5 October 2014. The company was formed in 1921. Recrulfm8nl and appointmenl of Irustees Trustees are elected by members of BIFF and may be proposed by members or identified by serving Trustees. A skills analysis of Iruslees is conducted and where a shortfall is identified a recruilment plan is devised lo address it. All Iruslees, includlng those elected honorary officers (chair, vlce chair and honorary treasurer), retire al the Annual General Meeting following the third year of their appoinlmenl. A Iruslee who is not elected an honorary officer may seNe continuously for a maximum of nine yeafs. In normal circumstances, an honorary officer may serv8 conlinuoLJsly for a maximum of nine years from the dale of first election lo the honorary office. Risk management The trustees have a duly to idenlify and review the risks to which BIFF is exposed and lo ensure appropriate controls are In place to provide reasonable assurance against fraud and error. The risk management strategy is managed by the Board of Truslees and comprises an annual review of the risks the organisalion may face., Ihe eslablishmenl of systems and procedures lo millgale Ihose risks,, and the implemenlalion of procedures designed lo minimise any polenlial impact on the organisalion. The Board of Truslees maintains a risk reglsler, which is reviewed annljally. Insurance covers the major financial risks and is reviewed annually. Systems of internal conlrol are designed to provide reasonable, bul not absolute. assurance against material mis-slalemenl or loss. The controls are.. Regular consideration ol financial resulls in comparison to budgets Regular review of non-financial performance indicators Appropriate levels of delegation of authority lo slaff and segregation of duties Idenlificalion and management of risks across a wide range of headings Safely and fire risk assessments meeting legislative requirements
THE BRITISH AND INTERNATIONAL FEDERATION OF FESTIVALS FOR MUSIC, DANCEAND SPEECH TRUSTEES. REPORT (INCLUDING DIRECTORS, REPORT AND STRATEGIC REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025
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 2025 Truslees Deborah Kale Ward {Chalrl Priscilla Louise Morris (Vice Chair 1710912025) John Logan (Honorary Treasurer) Yvonne Baisden Christopher Philip 81urton Ivlce Chairl Annelle Brown (Appointed 8 May 2024) Clara Angela Iris Lane (Resigned 24 November 20241 Robert M8cDonald (Resigned 24 November 2024) Fiona McLean-Buechel {Vice Chair from 1710912025) (Appoinled 4 S8Plember 2024) Jill Ellsabelh Wright Nelll Oldham Verily Leah Williams Stepped down (Appointed 22 May 2025) (Appointed 22 May 20251 Approv8d by order of the board of Iruslees and signed on ils behalf by.. Christopher PhS1ip Blurton (Vice Chair) Tiustee Dat8,. 1611212025
THE BRITISH AND INTERNATIONAL FEDERATION OF FESTIVALS FOR MUSIC, DANCE AND SPEECH STATEMENT OF TRUSTEES. RESPONSIBILITIES FOR THE YEAR ENDED 31 MARCH 2025 The Iruslees, who are also Ihe direclors of The Brilish and International Federation of Festivals for Music, Dance and Speech for the purpo58 of company law, are responsible lor preparing the Trustees, Report and the financial slalemenls in accordance with 8pplicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). Company law r6qulres the trustees to prepare financial sialements for each financial year which give a true and falr view of the state of affairs of the charity and of the incoming resources and appllcalion of resources, Including Ihe income and expenditure, of the charitable company for thal y8ar. In preparing these financial slalemenls, the trustees are required to.. select suitable accounting policies and then apply them consislenlly- observe the methods and principles in the Charities SORP.. make judgements and estimates that are reasonable and prudent- and prepare the financial slalemenls on the going concern basis unles5 il is inappropriate to presume that the charity will continue in operallon. The Iruslees are responsible for keeping adequate accounting records that disclose with reasonable accuracy al 8ny lime the financial posilion of the charity and enable them lo ensure that the financial slalemenls comply willi 11)e Companies Act 2006. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for tho prevention and detection of fraud and other irregularities.
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 Iruslees on my examination of the financial slalemenls of The British and International Federation of Festivals for Music, Dance and Speech (the charity) for the year ended 31 March 2025. Responslbilitles and basis of report As the trustees of the charily (and also Its directors for the purposes of company law), you are responslble for the preparation of the financial slalemenls in accordance with Ihe requ1mentS of the Companies Act 2006. Having satislied myself that the financial stalements of the charity are not required lo be audited under Part 16 of the Companies Act 2006 and are eligible for independent examinalion, I report in respect of my examination of the charlty's financial statements carried out under secllon 145 of the Charilies Act 2011. In cafrying out my examinatlon I have followed the Direclions given by the Charity Commission under section 145(51(b) of the Charities Act 2011. Independent examiner's statement I have completed my examination. I confirm Ihal no mallers have come to my attention in connection with Ihe ex8minalion giving me cause lo believe that in any material respect.. accounllng records were not kept in respect of the charity as requlred by section 386 of the Companles Act 2006. the financial statements do nol accord with those records., or the financial statements do not comply wllh the accounting requirements of section 396 of Ihe Companies A¢1 2006 other than any requlremenl Ihal the financial slalemenls give a true and fair view, which is not a maller considered as part of an Independent examination., or the financlal slalemenls have not been prepared in accordance with the melhods and principles ol the Slalement of Recommended Practice for accounting and reporting by charities applicable lo charities preparing their financial slalemenls 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 othèr mallers in eonnect5on wilh the examination to which allenlion should be drawn in Ihls report In order to enable a proper understanding of the financSal slalements lo be reached. V J Atklnson BK Plus Llmited 52 Sl Johns Lane Halifax Wesl Yorkshlre HX12BW Date.. 16.Q.£o.i.Trb.cr 20U IL f Ivs Limimd
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 2025 Unrestrlcted Restricted fund5 funds 2025 2025 Total Unrestricted Restrlcted funds funds 2024 2024 Total 2025 2024 Notès Income from: Donations and legacles Charitable 2clivilies Copyright and Insurance Members Subscrlptlons Other trading activities 11,514 11,514 10.668 10,668 56,719 76,772 22,482 56,719 76,772 22.482 54.453 75.565 30,820 54,453 75,565 30,820 Investments 7,006 7,006 7,243 7,243 Total income 174,493 174,493 178,749 178.749 Expendlture on: Raising funds Charllable activities Copyright, Insurance and DBS Membèrs Servlces Members Support and Adminislralion Governanc6 26,591 26.591 43,095 43,095 67,990 88,260 67,ggo 88.360 57,650 79,690 57,650 81,286 100 1,596 11,310 5,977 11,310 5,977 10.121 2,278 10.121 2.278 Total charltable expenditure 173.537 100 173,637 149,739 1,596 151,335 Total expendlture 200,128 100 200,228 192,834 1,596 194,430 Nel gainsl(lossesl on inveslmenls 11 4,289 4,289 13.388 13,388 Net expenditure and movement In funds (21,346) {100) (21,446) (697) (1,596) {2,293) Reconclllatlon of funds: Fund balances al 1 April 2024 433,401 3,754 437.155 434.098 5,350 439,448 Fund balances at 31 March 2025 412,055 3,654 415,709 433,401 3,754 437,155 The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from conlinuing activities.
THE BRITISH AND INTERNATIONAL FEDERATION OF FESTIVALS FOR MUSIC, DANCE AND SPEECH BALANCE SHEET ASAT31 MARCH 2025 2025 2024 Notes Fixed assets Tangible asset5 Investments 13 14 157,522 236,176 159,791 234,130 393.698 393,921 Current assets Stocks Debtors Cash at bank and In hand 15 16 417 48,730 304 400 46,693 21,282 49,451 68,375 Crtdltors: amounts falllng due within one year 18 (18.869) (14,991> Net current assets 30,582 53,384 Total assets less current Ilablllti8$ 424,280 447,305 Credltors: amounts falllng due after more than one year 20 (8,571 > (10,150) Net assets 415,709 437,155 The funds of the charlty Restricted income funds Unreslricled funds 21 22 3,654 412.055 3,754 433,401 415,709 437,155
THE BRITISH AND INTERNATIONAL FEDERATION OF FESTIVALS FOR MUSIC, DANCE AND SPEECH BALANCE SHEET {CONTINUED) ASAT31 MARCH 2025 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 2025. The diroclors acknowledge their responsibilities for complying with the requirements of Ihe Companies Act 2006 with respect to accounting records and the preparation of financial slatemenls. The members have not iequired the company to obtain an audit of ils financial slalem8nts for Ihe year in question in accordance wilh section 476. These financial stalemenls have been prepared in ac¢ordance with the provisions applicable lo companies subject lo the small companies reglme. The financial statements were approved by the trustees on 1611212025 John Logan (Honorary Treasurer) Trustee Company reglslrallon number 00177744 (England and Wales) 10-
THE BRITISH AND INTERNATIONAL FEDERATION OF FESTIVALS FOR MUSIC, DANCE AND SPEECH NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 Accounting policies Charlty Informatlon The Brilish and Inlernalional Federation of Festivals for Music, Dance and Speech Is a private company limited by guaranlee incorporated in England and Wales. The registered office is Feslivals House, 198 Park Lane, Macclesfield, Cheshire. SK116UD. 1.1 Accounting convention The financial sl8lemenls have been prepared in accordance wilh the charlly's governing document, the Companles Act 2006, FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Charitles SORP "Accounting and Reporling by Charilies.. Statement of Recommended Praclice applicable to charitie5 preparing their accounts in accordance wilh the Flnancial Reporting Standard appllcable In the UK and Republic ol Ireland IFRS 102)" The charity is a Publlc Benefit Enlily as defined by FRS 102. The charity has taken advantage of the provisions in the SORP for charities not lo prepare a slalement of cash flows. The financial slalemenls are prepared in sterling. which is the functional currency of the ch8rily. Monetary amounts in these financial slalements are rounded to Ihe nearest £, The flnanclal slalemenls have been prepared under the hlslorical cosl convenllon, Imodifled lo include the revaluation of freehold properties and lo include investment properties and certain financi81 Inslrumenls at fair valuel. The prlnclpal accounting policies adopted are sel out below. 1.2 Golng concérn Al Ihe lime of approving the financial statements, the Iruslees have a reasonable expectation that the charity has adequat8 resources lo continue in operation21 exislence for Ihe foreseeable future. Thus the trustees continue lo adopt the going concern basis of accounting in prepartng the financi81 sla18m8nls. 1.3 Charltable funds Unreslricled funds are avallable for use at Ihe discretion of the trustees in furtherance of their charitable objectives. Reslricled funds are subject lo specific conditions by donors or granlors as lo how they may be used. The purposes and uses of the restricted funds are sel out In the notes to the financial slalemenls. Endowment funds are subject lo specific conditions by donors thal the capital musl be maintained by Ihe charity. 1.4 Income Income is recognised when the charity is legally enlilled to it after any performance conditions have been met, the amounts can be measured reliably, and il is probable Ihal income will be received. Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of Ihe donation, unless performance conditions require deferial of the amount. Income tax recoverable in relation lo donalions received under Gift Aid or deeds of covenant is recognised al the time of the donation. Legacies are recognised on receipt or otherwise if Ihe charity has been notified of an impending dislribulion, the amounl is known. and receipt is expected. If the amount is nol known, Ihe legacy is treated as a contingent asset. 11
THE BRITISH AND INTERNATIONAL FEDERATION OF FESTIVALS FOR MUSIC, DANCE AND SPEECH NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Accountlng pollcle5 (Continued) 1.5 Expendlture Expenditure is recognlsed once there is a legal or construclive obligation to Iransfer economic benefil to a third party, it is probable that a transfer of economic benefils will be required in selll8manl, and the amount or the obligation can be measured reliably. ExpendlluTe is classified by activily. The cosls of each activity are made up of the total of direct costs and shared costs, Including support costs involved in undertaking each aclivily. Direct costs altribuleble lo a single activity are allocated directly lo Ihat aclivily. Shared costs which contribute lo more than one aclivily and support costs which are nol allributable lo a single activity are apportioned belween Ih05e acliville5 on a basis consistenl with the use of resources. Central staff costs are allocated on the basis of lime Spent, and depreciation charges are allocaled on the portion of the asset's use. 1.6 Tanglble flxed assets Tangible fixed assels are initially measured at cost and subsequently measured at cost or valuation, nel of depreciation and any impairment losses. Depreciation is recognlsed so as to write off Ihe cost or valuation of assets less thelr resldual values over Ihelr useful lives on the following bases: Freehold land and bulldings Fixlures and fillings 1 % on rev81ualion 250A on reducing balance The galn or108s arising on the dlsposal of an asset Is determined as Ihe dlfference between Iho sale proceeds and th6 carrylng value of the assel, and is recognised in the statement of financlal acliiAtiès. 1.7 Flxed asset Investments Fixed asset investments are initially measured al transaction price excluding transaction cosls, and are subsequently measured al fair value at each reporting dale. Changes in fair value are recognised In nel Incomel(expendilure) for the year. Transa¢lion costs are expensed as incurred. 1.8 Impairment of flxed assets Al each reporting end date. the charily reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impaiment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to delermine the exlenl of the impairment loss lif any). 1.9 Stocks Stocks are stalod al the lower of cosl and eslimated selling price less cos15 to complete and sell. Cost comprises direct materials and, where applicable, direct labour cosls and those overheads that have been incurred in bringing Ihe stocks lo their present location and condition. Items held for distribution al no or nominal consideration are measured the lower of replacement cost and cosl. Net realisable value is the eslim21ed selling price less all eslimaled cosls of completion and cosls to be incurred in marketing. selling and dislribulion. 1.10 Cash and cash equivalents Cash and cash equivalents include cash in hand. deposils held at call with banks, other 5hort-lerm liquid investments with original maturilies of three months or less. and bank overdrafts. Bank overdrafls ar6 shown within borrowings in current liabilities. 12-
THE BRITISH AND INTERNATIONAL FEDERATION OF FESTIVALS FOR MUSIC, DANCE AND SPEECH NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Accountlng policies (Contlnued) 1.11 Financial instruments The charity has elected lo apply ihe provisions of Section 11 'Basic Financial Inslrumenls, and Section 12 'Olher Financial Inslruments Issues, of FRS 102 lo all of ils financial inslrumenls. Financial instruments ar6 racognlsed in the charilrfs balance sheet when Ihe charily becomes party lo the conlraclual provisions of the inslrumenl. Financial assets and liabilities are offset, with the nel amounts presented in the financial slalem8nts. when there is a legally enforceable right lo set off the recognised amounts and there is an intention to settle on a net basls or lo reallse the asset and sellle the li8bilily simultaneously. Baslc flnanclal assets Basic financial assets, which include debtors and cash and bank balances, are initially m8asur8d al transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement conslilul6s a financing Iransaclion, whérè Ihe Iransaclion Is measured al the present value of the future receipts dlscounled al a market ra16 01 interest. Financial assets classified as reeeivable wllhin one year are nol amortised. Basic financial liabillties Basic financial liabili116s, including creditors and bank loans are initially recognlsed al transaction price unless the arrangement constilules a financing transaction, where the debt instrument is measured al the present value of the future payments discounted al a markel rale of inleresl. Flnanclal Ilabilllies cla$6iffed as p8yable within one year are not 8mortised. Debt inslrumenls are subsequently carried al amortised cost, using the effective Interest rate method. Trade creditors are obligations lo pay for goods or seNices that have beén acqulred In th8 ordinary course of operalions from suppliers. Amounts payable are classified as current liabilities if paymonl is dué within one year or less. If nol, they are presented as non-currenl liabililies. Trade creditors are recognised initially al transaction price and subsequently measured al amortised cost using the effeclive inler6sl m81hod. Derecognillon of flnancial Ilabllltles Financial liabilities are derecognised when the charity's contractual obligations expire or 8re discharged or cancelled. 1.12 Employee benefits The cost of any unused holiday enlillemenl is recognis8d in Ihe period in which the employee's services are received. Termination benefits are recognised immedialely as an expense when Ihe charity is demonstrably committed lo lerminale the employment of an employee or to provide lerminalion benefits. 1.13 Retlrement beneflts Payments lo defined conlribulion reliremenl benefit schemes are charged as an expense as Ihoy fall due. 13-
THE BRITISH AND INTERNATIONAL FEDERATION OF FESTIVALS FOR MUSIC, DANCE AND SPEECH NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Critlcal accountlng estimates and judgements In the application of the charity's accounting policies. the Iruslees are required to make judgements, eslimales and assumptions about the carrying amount of assets and liabilities that are nol readily apparent from other sources. The eslimales and associaled assumptions are based on historical experience and other factors that are considered lo be relevant. Actual results may differ from these estimates. Th8 eslimales and underlying assumplions are reviewed on an ongoing basis. Revislons to accounting eslimales are recogniséd in the period in which the estimale Is revlsed where the revision affects only that period. or in th6 period of the revision and fulure periods where the revision affects bolh current and future P6riods. Income from donatlons and legacles Unrastricted funds 2025 Unrestricted funds 2024 Donations and gifts 11.514 10,668 Income from charltable actlvltles Unrestricted funds 2025 Unrestrlcted funds 2024 Copyrlght and Insurance Copyright and insurance 56,719 54,453 Members Subscrlptions Members Subscriptions 76,772 75,565 Other tradlng activSties Conference Members servlces and other 21,094 1,388 29,385 1,435 155,973 160,838 Income from Investments Unrestricted Unrestricted funds funds 2025 2024 Interest receivable 7.006 7,243 14-
THE BRITISH AND INTERNATIONAL FEDERATION OF FESTIVALS FOR MUSIC, DANCE AND SPEECH NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Expenditure on raislng funds Unrestricted Unrestricted funds funds 2025 2024 Fundralslng and publlcity Travel and other costs Conference costs Centenary cosls Sales and MarketinglProfile Raising 2,469 23,505 3,169 35,781 4,025 120 617 26,591 43,095 Expendlture on charitablo acllvltles Copyrlghl, Insurance and DBS Members Members Governance Servlces Support and Admlnlslratl on Total 2025 2025 2025 2025 2025 Dlrect costs Staff costs Depreciation 8nd impairment Copyright cover and insurance Adjudlcalor and festival costs 20,085 953 38,595 72,977 1.166 9,275 148 102,337 2,287 38,595 601 451 150 59,633 74,594 9,573 143,800 Share of support and governance Costs (see nole ) Support 8,357 Governance 13.766 1.737 23,860 5,977 5,977 67.990 88,360 11,310 5,977 173,637 Analysls by fund Unreslricled funds Reslricled funds 67.990 88.260 100 11,310 5,977 173,537 100 67.990 88,360 11,310 5,977 173,637 15-
THE BRITISH AND INTERNATIONAL FEDERATION OF FESTIVALS FOR MUSIC, DANCE AND SPEECH NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Expenditure on charltable actlvltles (Continued) Previous year". Copyright, Insurance and DBS Members Members Governance Services Support and Administrati on Total 2024 2024 2024 2024 2024 Dlrect costs Staff costs Depreclalion and impairment Office costs Copyrlghl cover and Insurance Adludicalor and festival costs 18.864 955 (1.826) 30,230 1,095 66,977 1.322 8,490 168 94,331 2,445 {1,826) 30,230 1,095 49,318 68,299 8,658 126,275 Share of support and governance costs (see note ) Support 8,332 Govern8nce 12,987 1,463 22,782 2,278 2,278 57,650 81,286 10.121 2,278 151,335 Analysls by fund Unrestricted funds Restricted funds 57,650 79,690 1,596 10,121 2,278 149,739 1,596 57.650 81.286 10,121 2,278 151,335 Net movement In funds 2025 2024 The nel movement in funds is staled after chargingl(crediting)'. Fees payable for the independent examination of the charivs financial st81emenls Depreciation of owned langible fixed assels 2,391 2,268 2,278 2,444 Trustees There was a total of £1,121 of expenses paid to Iruslees during the financial year, £1,060 was reimbursed for Iraveling expenses {2024 - £9281 and £61 (2024 £130) ielaled to other expenses incurred. 16-
THE BRITISH AND INTERNATIONAL FEDERATION OF FESTIVALS FOR MUSIC, DANCE AND SPEECH NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 10 Employees The average monthly number of employees during the yearwas: 2025 Number 2024 Number General manager AdminSslralive and support Total Employment costs 2025 2024 Wages and salar16S Social security costs Other pension cosls 96,594 3,824 1,919 89,649 2,703 1.979 102,337 94,331 There were no employees whose annual remuneration was more Ihan £60,000, Remuneratlon of key management personnel The remuneration of key management personnel was as follows.. 2025 2024 Aggregale compènsation 45,385 43,369 The key management personnel of the charity have been identified as the general manager. Th8 remuneration of the key management Is sel and reviewed annually by the trustee board. 11 Galns and losses on Investments Unrestrlcted UnrestrScted funds funds 2025 2024 Galnsl(lossesl arising on.. Revaluation of Investments Sale of investments 4.690 14011 11,189 2,199 4,289 13,388 12 Taxation The charity is exempt from taxation on Ils acltvilies bocau5e all ils income is applied for charitable purposes. a7-
THE BRITISH AND INTERNATIONAL FEDERATION OF FESTIVALS FOR MUSIC, DANCE AND SPEECH NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 13 Tangible fixed assets Freehold land Flxluros and and bulldlngs rittlngs Total Cost At 1 Aprll 2024 160,000 66,761 226,761 Al 31 March 2025 160,000 66,761 226,761 Depréclation and Impalrment At 1 April 2Q24 Depreciation charged in the year 3,200 1,600 63,771 66,971 2,268 Al 31 March 2025 4.800 64,439 69,239 Carrylng amount Al 31 March 2025 155,200 2,322 157,522 Al 31 March 2024 156.800 2,991 159,791 14 Flxed assat Snvastments Add Investments I Cost or valuation Al 1 April 2024 Additions Valuation changes Management fees Movernent in cash Disposals 234,130 46,036 15,304 11,8691 3,712 161,1371 Al 31 March 2025 236,176 Carrylng amount At 31 March 2025 236,176 Al 31 March 2024 234,130 15 Stocks 2025 2024 Finished goods and goods for resale 417 400 18-
THE BRITISH AND INTERNATIONAL FEDERATION OF FESTIVALS FOR MUSIC, DANCE AND SPEECH NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 16 Debtors 2025 2024 Amounts falling dua wlthin one year: Prepayments and 8rUed income 48,730 46,693 17 Loans and overdrafts 2025 2024 Bank loans 10,434 12,013 Payable within one year Payable after one year 1,863 8,571 1,863 10,150 18 Creditors: amounts falllng due wlthln one year 2025 2024 Notes Bank loans Other taxation and social securlty Trade creditors Other creditors Accruals and défÉrr8d incomè 17 1,863 1,017 2,963 37 12,989 1,863 1,944 2,251 252 8,681 18,869 14,991 19 Secured Debts A b8nk overdraft facility is secured via a fixed legal charge, dated 19 March 2010. over the charity property al 198 Park Lane, held by Roy81 Bank of Scotland. During the year ended 31 March 2025, and Ihe prior year, the facilily has not been ulilised. 20 Creditors.. amounts falling due after more than one year 2025 2024 Notes Bank loans 17 8,571 10,150 19-
THE BRITISH AND INTERNATIONAL FEDERATION OF FESTIVALS FOR MUSIC, DANCE AND SPEECH NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 21 Restricted funds The reslric18d funds of the charity comprise Ihe unexpended balances of donations and granls held on trust subject lo specific conditions by donors as to how they may be used. At 1 Aprll 2024 Resources At 31 March expended 2025 Margaret Lane Award Wesl London Pi2noforte Festival 3.250 504 (100) 3,150 504 3,754 (100) 3,654 Prevlous year: At 1 Aprll 2023 Resourcès At 31 March expended 2024 S Harrison Fund Margaret Lane Award Wesl London Pianofortè Festival 50 3,300 2,000 150) 150) {1,4g6) 3,250 504 5,350 (1,5961 3,754 22 Unrestrlcted funds The unreslricled funds of the charity comprise the unexpended balances of donallons and grants whlch are nol subjecl lo specific conditions by donors and grantors as lo how Ihoy may be used. These Include designaled funds which have been sel aside out of unreslricled funds by the Iruslees for specific purposes. At 1 April 2024 Incoming resources Resources expended Galns and At 31 March 105ses 2025 General funds 433,401 174,493 (200,1281 4,289 412,055 Prevlous year: Al 1 Aprll 2023 Incomlng resources Resources expended Galns and At 31 March losse5 2024 General lunds 434.098 178,749 (192,834) 13,388 433,401 -20-
THE BRITISH AND INTERNATIONAL FEDERATION OF FESTIVALS FOR MUSIC, DANCE AND SPEECH NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 23 Analysis of net assets between funds Unrestricled funds 2025 Restricted funds 2025 Total 2025 At 31 March 2025: Tangible assets Investments Current asselsl{118bililies} Long term liabilllies 157.522 236,176 26.928 18.571) 157,522 236,176 30,582 18,5711 3,654 412,055 3,654 415,709 Unrestrlcted funds 2024 Restrlcted funds 2024 Total 2024 At 31 March 2024: Tanglble assets Investments Current assetsllliabililles) Long term liabilili6s 159,791 234,130 49.630 (10.150) 159,791 234,130 53,384 (10,1501 3,754 433.401 3,754 437,155 24 Operatlng lease commitments Lessee At the reporting end dale the charity had ou151anding commitments for future minimum lease payments under non-cancellable operating leases. which fall due as follows-. 2025 2024 Within one year Between two and five years 696 348 1,044 25 Related party transactions There were no disclosable related paty Iransaclions during the year (2024 - none). 21